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Options Trading Experts
The Smart Profits Report: Issue # 187
Tuesday, March 01, 2005
Options Trading Experts: How to “Test Drive” an Options Trading Expert
By Karim Rahemtulla
Investment Director, Mt. Vernon Research
I just returned from hosting a very successful options/traders conference in Phoenix, T he Profits at the Peak Traders Conference.
It was a success not because of the weather in Arizona - it rained every day - but because of what I heard from the audience: How important it was to actually hear how the different options strategies and systems work from the people who develop them.
And, they are right: It is the ideal way to learn how you can trade better, and even with whom you may want to trade if you get a chance to do it, a sort of options trading experts test drive.
An Educated Decision vs. The Sales Pitch
It’s just not the same to read about a service or system… especially when you can actually “touch and feel” the product, so to speak, when you are being told about it in person by the editor.
Better still, at a seminar like the one we had in Phoenix, you get a feeling about the people behind the services - the editors AND the customer service people.
While we never give individual advice to anyone at these conferences, the attendees do receive a very good education to get them on their way. When I speak on a strategy like LEAPS options or my service, The Income Trader - A Covered Call Strategy, for example, I actually give the audience the nuts and bolts of the system so they can try it out for themselves.
I don’t want to sell anything without telling you what you are getting… and I mean exactly. Then it’s an educated decision on your part, and not some response to a high-pressure sales pitch.
When people come up and ask how much the service costs, my answer is always the same: I don’t know and, whatever it is, it is too cheap! That usually gets a smile.
Why It’s Important to Teach - Not Just Sell
I don’t know what the service costs, and I personally don’t care. I leave the selling to the sales team. You will see booths and sales people around the perimeters of a conference, but at ours the real action is in the middle - in the room where we talk about what we love - trading - and how we do it.
I know that I go to these events wanting the audience to learn, and that is what I advised the other speakers to do, as well: teach, not sell. If they have a good system, they will explain it well, and you will learn something from them.
To me, the real mark of success is when the person in the audience knows how a system works and understands that he can use it, too. There is no better feeling than realizing you can pass something like that along.
Good Trading,
Karim Rahemtulla
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Today’s Smart Profits Cribsheet
- For more on the importance of trading with systems like the ones we’ll discuss, check out Smart Profits #120, Investment Speculation: 6 Secrets to Creating a ‘300%-Return System’ Using Stock Options.
- Check out the Smart Profits Glossary for definitions of words like “LEAPS” or “covered calls” found in today’s article.
Related Articles:
- Understanding Option Trading: Cut Your Losses… And Watch Your Gains Run
- The Covered Call Strategy - The “Big Daddy” of Options
- The Chicago Board of Options Exchange: The Website Every Options Trader Should Know
