Where Should You Turn For Options Education? (And Who To Steer Clear Of)

options education

When you are first starting out as a trader you will no doubt have a huge number of questions and concerns and you will want to know quick answers to things like, What can I expect to make in my first year? Or what is the best options strategy for me to succeed? There will be hundreds of others and it’s not always clear where to turn to for high-quality options education, or where to avoid.

Unfortunately there are many people out there who make a living by exploiting the public’s natural desire to become wealthy and some of these companies and programs should be avoided at all costs as they really won’t benefit you in the long run.

Hopefully this blog will help you to avoid some of the more suspect training and point you to some credible options education resources (not just my own!) to support your learning and development as a professional trader.

Now, I’m sure one of those “free seminars” will have tempted many of you after you saw it advertised everywhere, right? And if you didn’t go to one for options then I’m sure you have been to one for something else as they are marketed well, to tempt you in.

What Happens At These FREE Seminars?

Typically, it goes a bit like this – you get to come to a free seminar which is fine, however, once there you will very quickly realize that the event itself holds little, if any, educational value for you. Its aim will be to convince you to sign up to a high-priced course or program that will enable you to “make easy money”. All I can say is don’t believe the hype!

Some of these courses will cost you well over $1,000 and you should seriously question them. I’ve even seen some people advertise so-called one-to-one programs which cost more than $10,000 per month! Talk about the scam of the century! Please, please don’t be fooled.

Where Can I Get Reliable Options Education?

I hate to see people taken advantage of, particularly when you can sign up as a member of Option Alpha, completely free, and take my free beginners course in Options Trading right away, at absolutely no cost to you at all. The 20 lesson course will take you through everything you need to know to get set up in options trading.

But I don’t want you to think I’m just here to plug my own courses, far from it! I want all would-be and newbie traders to learn as much as they can about the industry from as broad a source base as possible.

Start The FREE Course on "Options Basics" Today: Whether you are a completely new trader or an experienced trader, you'll still need to master the basics. The goal of this course is to help lay the groundwork for your education with some simple, yet important lessons surrounding options. Click here to view all 20 lessons ?

Read Every Options Trading Book You Can Get Your Hands On

A much cheaper way of learning than paying for these “get rich quick” seminars, is to pop down the local bookstore and pick up a couple of really good books on trading to get you started. I’ve posted about some of my favorites before but you can always email me if you have a question about a book you are looking to purchase and I’m more than happy to share my opinion.

It might feel easier to just sit back and be spoon-fed all the information in one day at a seminar but think about it, are you going to learn more at a ridiculously expensive seminar with questionable credentials, or from spending $20 on a book by a well-known and well-respected trader? You need to get the best out of your own options education so choose sensibly.

The reality is there is no quick fix or cheats sheet for success in trading. What you need to do is learn the basics and arm yourself with the knowledge you need to make right and calculated trading decisions on a regular basis. There is no “get rich quick,” but there is for sure, a way to earn a regular income trading, once you have mastered the skills.

By all means, if you still want to go to some cheap hotel and pay an outrageous premium to hear a wannabe trader “teach” what you can find out on your own, knock yourself out! I’m sure anyone reading this can tell you how much of a waste of time it turned out being. Options education is a process – there is no quick and easy shortcut if you want to learn effectively.

You will learn much more by your money on great books and reading from reputable websites. Here is a list of some really great websites for trading information and news which I have put together. Then start trading small and never stop learning! Keep a log of your trades and write down what went right and wrong.

Great Options Education Resources For Beginner Traders

If you honestly don’t know where to start or if you need a refresher, here are some of the most trusted sources I still use and refer to for my own trading education:

Option Industry Council – www.optionseducation.org

Chicago Board Options Exchange – http://www.cboe.com/learncenter/

The Options Guide – www.theoptionsguide.com

thinkorswim – www.thinkorswim.com

As you can see, there are many free online educational resources, lots of books to read. While I don’t wish to blow my own trumpet, I have created hundreds of blogs, podcasts and video training tracks on all aspects of learning options trading, which are all available completely free of charge to Members on OptionAlpha.com.

Please, don’t be fooled by the Get Rich Quick scams – if you are serious about becoming a trader in whatever capacity then explore all of the resources I’ve shared here with you. Spend some time on my site to see if trading is your thing, and then just get started on a small scale and trade regularly and consistently.

There really is no substitute for learning, and then doing it yourself and you will be able to make a regular and consistent income that way and follow in the footsteps of the most successful traders.

It’s not a get rich quick answer but wouldn’t you rather spend your thousands of dollars actually starting to trade for yourself and building a small profit gradually, rather than just hand it over to some scam educator?

 

About The Author

Kirk Du Plessis

Kirk founded Option Alpha in early 2007 and currently serves as the Head Trader. Formerly an Investment Banker in the Mergers and Acquisitions Group for Deutsche Bank in New York and REIT Analyst for BB&T Capital Markets in Washington D.C., he's a Full-time Options Trader and Real Estate Investor. He's been interviewed on dozens of investing websites/podcasts and he's been seen in Barron’s Magazine, SmartMoney, and various other financial publications. Kirk currently lives in Pennsylvania (USA) with his beautiful wife and two daughters.