Optionetics Ripoff Options Trading Educational 2day Seminar Redwood City California

I found this while researching clone scam. I cut and paste this directly from Wadecook.com Someone please check and verify before it gets erased and no proof of this....READ DOWN BELOW WHERE IT SAYS OPTIONETICS...

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Wade Cook Financial Corporation (WCFC) has filed for Chapter 11 Bankruptcy and is no longer providing seminars for new or old customers. If you are trying to contact the Trustee of the WCFC Estate, please contact them directly at 206-442-5523 or email them at WCFCTrustee@foster.com

In the wake of the Chapter 11 bankruptcy of WCFC, many people were left unserved after they had paid for enrollment to financial education seminars.

If you are one of those unserved students, Profit Strategies Group, Inc. recognizes your serious interest in money management and trading education and would like to help you continue your efforts. We have a successful history of helping individual investors, just like you, to create and conserve financial wealth. Because you recently paid for something that you did not receive, we would like to make you an offer?


You're Invited


Profit Strategies Group, Inc. is an educational organization that teaches people how to create and conserve financial wealth. Our company is not related to the former WCFC, but as part of a transaction with the estate of Wade Cook Financial Corp., our company has offered to waive the $3,995 tuition for our seminars for anyone who was owed a WCFC seminar when they went out of business. Our seminars are produced in association with Optionetics, a leader in the investment education field.

Click Here for Details of the Offer

Our offer to waive the tuition for a 2-day seminar will not effect an individual's right to pursue any money owed from WCFC and has no bearing on legal suits against Wade Cook Financial.

Oscar from Utah, I agree on several points but also disagree on other you have made. I do agree that if you have some knowledge of trading equity stocks, optionetics's material will be absorbed far easier than if one has no idea of how the market works. But doesn't a college freshman tackle calculus with no prior knowledge of it?

I also agree with you that trading is a business, I stated that in my last post.

However, I disagree that one is to be overwhelmed with NO recourse should they choose to take part. Reattend as many 2 day seminars as you want and talk to the instructors there to clarify anything you do not know. You certainly don't need the coaching if you feel you can handle it on your own. Those are offered to the people who are serious about this and would like to grasp the material faster.

Lastly, I would wonder why as you are overwhelmed already with info from the 2 day, why on earth would you attend the ADVANCED 3 day seminar? Whether it be the computer course or the one in Las Vegas.

I have stated this, and will state it again that this is not a get rich quick scheme.

To all of you, who are taking Optionetics' courses so as to get rich quickly, please be warned. The courses are for people have one or two years trading in equity stocks or if you are a beginner that is seriously seeking more information in trading stocks with options as a business. I have taken the three day seminars and I can tell you that you will be overwhelmed and will become frustraded as I did. You will get a briefing of the fundamentals and videos and audios but after that you will be on your own until you purchase their coaching service. Unless you are willing to pay for $2995 for a briefing of the fundamentals and then another for personal coaching and then another for expensive tools so that you can write it off as a business expense then you have found a business opportunity.

Let me address the points you have brought up.

1st, the material is top notch. Of course it would seem complex to new students at first, but if you study it and put the time into understanding it you will realize it is 2nd to none. As for the 2 day seminar, what did you expect? It IS 2 days. To cover all the material completely I would say it may take more than a week. This material is highly informative and is the result of multiple years of experience and knowledge. Would you rather have more info or less info?

2nd, you claim the material will not make you back the $2995 in 6 months. Have you ever heard the statement : Past performance is no guarantee for future performance. Some have made it, some have not. There's only 1 person who can tell if you will make that money back and it is YOU.

3rd, ask yourself if you had not been to the intro 2 hour workshop and had no prior knowledge of basic calls/puts, how valuable would the info presented in the 1st morning be?

4th, regarding the software, how many pro traders you know who don't trade with some type of program whether it be charting or analysis? Note that while optionetics says it is highly recommended, they are NOT forcing you to buy them.
You may be able to trade profitably without ever touching them.

5th, regaring Elliot Wave, it is not something you have to live by. Many traders don't use it, although it does work rather nicely with ADV GET.

6th, if you have a life savings of $28k, why are you putting it all to trading? George is right to say never risk more than 5% of your TRADABLE account. Do you have to risk $2400 to make $8985 in 1 trade? Or can you balance it out over several trades in case you are unlucky? I know a trader who started with $2500 and has made $1500 in 5 months, starting in late May. Not the triple money he was looking for, but much better than what you'd get at the banks these days. Please also note that unlike stock trading, options offer more than a 1:1 payoff if correct.

7th, regarding the bulletin board postings. I answered in that very thread by Nick83, and I will ask do you have ANY idea of probalities and statistics? If not, educate yourself on them and what it means in options trading. I will go on record saying it is very hard to be profitable without some type on options analysis software. Lucky for you, there is a way to use excel for this, although I don't know the exact setup. For new options traders, I will also say you will lose money. You won't be right on every trade.

As for beaconpub, well you took the seminar vs the beginner course and you got what you paid for. It's a beginner course for a reason.

As for sharonna, the answer is in every thing I have posted so far. I can deduce from your entire posting so far that you think this is a get rich quick scheme. It is not. Trading is a business.

By the way, I don't work for optionetics, and if you have progressed since your original posting, ignore my post. But by giving out copyrighted information on the net, you may be susceptible to a lawsuit. Just a heads up.