Description
http://www.consistentoptionsincome.com/. The upfront course fee is $1,995 and I do not see a refund policy. He claims 5% consistent return and says doesn’t use condors or spreads. He does buy and sell calls & puts in the same month and on the same underlying which does sound like a spread to me.
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If you see REAL records then the system can be trusted. I don’t trust any of these back-tested results, especially in fast moving markets. Back-testing does not take psychology into account so forget that noise. Ask the man where is his ACTUAL trading account and results from it.
Thanks! The whole thing looks suspicious to me. The site asks for email to provide links to more videos about the statergy but no link received in the last 2 days.
I’ve heard options writing described as “Picking up pennies in front of a steam roller”. Writing covered calls [the simplest/safest trades] leaves you exposed to 100% of the downside but little of the upside.
I have tried hard to work out how, but it eludes me. I have even done such a course and wouldn’t recommend.
thanks Bill! Yep, option writing by its nature is low yield but the sell is to do ‘high’ probability trades and then cut your losses early coz risk/reward ratio for any high probability out-of-money option spread will be pretty high.
Option writing has different forms. Risk/reward are directly related. Take a look at this article – http://steadyoptions.com/articles.html/post/articles/google-earnings-trade-risk-vs-reward-r27.
I have been using this strategy since 2005 and can’t honestly tell you, it’s one of the best option plays I’ve ever used. I have spent tons of money, as most have, learning how to trade options. Consistent Options has performed exactly as the developer states. In fact, he has broker statements on his website. There are very few ‘experts’ offering that for all to see. I can also confirm, any questions I have ever had, have been answered in a very timely manner. Take a leap of faith in this program, I did and I am very glad I did!
derekd
thanks Derek! can you share a little more about the strategy used? on a typical trade what is your risk/reward ratio? how many times do you have to adjust the trade to remain profitable? what would you say is the minimum amount of money that should be invested to make the trade work considering cost of the course + commissions?
thanks!
could you please contact me regarding showing me how to use the programme I bought it a couple of years ago but have put it in a box and not been able to get it , I would just love to be able to trade and get the results he advertises can you help me I am in australia and I am on what app . skype . etc
My suggestion is to try MyWealthyOptions.com Guarded Strategy. They are consistently profitable and have good risk management in place. Check them out.
thanks George! This seems to be a pretty new service which started on 12/15/2011. I am not sure if performance on such a short time scale is a good indicator. I think 10 percent per month has a much longer record and I would rather sign up for it, if I want to go that route. I was looking more at learning strategies which I can implement rather than relying on a newsletter.
vrader, if you want combination of education and trade alerts, check out http://www.steadyoptions.com. Every trade alert comes with detailed explanation and discussion on the forum.
I had contacted John and at ConsistentOptionsIncome.com and got a prompt reply. He just send me an invite for a web seminar where he will explain hos strategy more . Unfortunately, I am out of town and can’t attend but thought I would post it here, in case someone else is interested. If you do attend, I would appreciate if you could write a small note about what you thought about it.
Title: Learn a Unique Options Trading Strategy
Date: Saturday, July 14, 2012
Time: 9:00 AM PST (12:00 PM EST)
Register:
This is the link to register:
https://www3.gotomeeting.com/register/419890878
Vrader,
One thing to consider when evaluating an option trading strategy is whether it aligns with your personality and the amount of time you have to commit to monitoring your positions. Swing trading and volatility trading (as examples) are often tough for a retail trader to manage – they require precise entry, diligent position sizing and rigorous trade management. Options selling strategies can be more forgiving and certainly “feel” better due to their higher probability of success. There are some great passages in the Jack Schwager’s Hedge Fund Wizards book about traders’ search for the right strategy for them – it makes all the difference.
Dear everybody
I just began using the COI strategy 13 months ago and have never had a loss. Unfortunately because of being generally very broke I have had to withdraw any ‘real’ profits just to survive and have been able to manage 5 real trades, but in the last 3 months have managed to go from $7 000 to $10 000 (i.e. I have managed to scrape together $7 000 by other means).
I have been too busy surviving to keep exact records, though I will have to go through my OptionsXpress statements soon to keep the Australian Taxation Office happy.
Thoughts at random:
– Being in Australia I’m mostly asleep when markets are open. Using John’s safeguards as contingent orders I have woken up once to a $3K profit and once to a $4K profit when the RUT moved significantly – on just one contract. This is close to 100% profit – way beyond John’s safe levels. Unfortunately they were both months when I was broke and were just paper trades.
– In he last 3 months I have woken up to $500 profit, $1030 profit, and $1250 profit (the last two on 2 contracts). Of course I close out quick smart at these levels.
– When I was puzzling my way through the training (including John’s more advanced training), support from John was almost instant (except once when he was on holidays). Otherwise there was always an overnight answer.
– Because I am only able to just survive at the moment financially (and emotionally), I do the absolute most basic trades. If you need more ‘intellectual’ trading stimulus, John’s training goes far beyond what I am presently using.
You will probably have guessed – I cannot recommend COI and John’s knowledge and support highly enough. AND for the first time in about 10 years of paying for courses, I have actually earned more than the money I have paid for a trading course.
AND most importantly, he has given me hope/reason to see me getting out of my present emotional and financial predicament.
Paul Smith
At first you feel as though you would like to have trading ‘alerts’ from John, but you soon come to realize John has taught you to be fully independent. You don’t need this kind of crutch. I don’t ‘need’ John anymore, but I’m sure-as-eggs happy to shoot him a quick email with my latest successful trade and a big thanks each month.
Hi Paul,
I purchased the course also, but have not implement the COI because of the uncertainty that I feel. I wonder if you could provide an update since your last post. Thanks for your help.
Paul and Hal. I’m looking strongly at the COI course and am thinking of purchasing the Smart Levels course first. Any comments on that strategy?
I am also thinking of purchasing his course. He talks about using the rut but can it be used on regular stocks such as google, appl , pcln etc. I have just recently lost my job and I need to create an income for my every day expenses.
Would appreciate any feedback
I purchased Smart Levels, but the DVD does not work. No response so far.
I see a number of potential shills in the replies above. I’ve been a full-time option trader now for 8+ years. I’ve studied naked options, verticals, and complex spreads with more marketing names than I could even list. I’ve listened to hundreds of seminars and spent thousands of hours backtesting. I’ve also watched every episode of _American Greed_. John’s track record has zero losses in 10 years of posted results. In my opinion, that should be enough to tell you this is clearly a scam. If you doubt then run it by Dan Sheridan, Mark Sebastian, Brian Overby, Tom Sosnoff, or any other educators in the field and see what they say. I’d be interested to know.
I don’t know anything about the site/course, but LOL at Sosnoff being an expert. He’s a great businessman (i.e., makes a ton from TastyTrade commissions) but there’s zero proof that’s he’s a profitable trader himself. In addition, he comes across as very arrogant and full of himself. He basically says that only HFTs and his style of trading are profitable. I guess he’s never heard of Ray Dalio, James Simons or many others who prove him wrong.
I gave you three other choices besides Sosnoff, JP: Dan Sheridan, Mark Sebastian, or Brian Overby. Not good enough? Try Dan Harvey, Ron Bertino, or Andrew Falde. I’m guessing ANY of these seven would tell you it’s a scam. All real trading strategies have losses. His results show no losses in over 12 years of monthly results: MADOFF, MADOFF, MADOFF.
I said “I don’t know anything about the site/course” so don’t know why you need to get emotional and downvote. Anyway, I tried his course and had mixed success (see my most recent post). I was skeptical beforehand about no losing months. I agree guys like Bertino are the way to go if you trade options (which I no longer do). But there’s a steep learning curve. It’s way, way behind the Sosnoff and Options Alpha type stuff aimed at newbies.
It was long ago. I made money, then lost it, not being able to Daytrade the Future vs the Options Strategy quick enough. One really, need his Smart Levels to go with it, and to be disciplined, i.e. to buy and sell when it does not look good to protect the Option Strategy . It was a good strategy compared the one’s I have been sold. Always think about going back to it.
Well I bit the bullet and tried COI in 2017. Made money paper trading for 3-4 months, then one month of actual profits. But then I lost a little over 10% (twice the target I was trying to make) on a trade that I had to keep adjusting. I felt like it could happen again so I stopped. The results on his site are hypothetical (he doesn’t give precise details and definitely not account statements or third-party audits). I also didn’t like how there were 2 or 3 different methods and some subjectivity (especially determining smart levels). I’d be curious if some the early success stories had continuing success. It wasn’t a terrible method (I’ve seen much worse and more dangerous), and might be profitable long-term, but I wouldn’t trust 5% per month. He’d be on the Fortune Top 100 list if he really had that every year since like 2006.