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Looking for guidance // Sheridan Options Mentoring, SMB U or John Locke?

Discussion in 'Options' started by TheSpeculator152, Jan 3, 2016.

  1. TheSpeculator152

    TheSpeculator152 Well-Known Member

    Can you help me?

    I am serious about becoming a great options trader and would like to avoid going down the route of consuming free information only. Where did you start your journey and what would you recommend to others?

    I have head good things about one-on-one mentoring and option training classes from John Locke, SMB Options Foundation Training and Sheridan Options Mentoring.

    I am hoping some of you have experience from working with either of these firms and can give me some guidance on where to start.

    Thanks! :)
    Last edited: Jan 3, 2016
  2. tom

    tom Administrator Staff Member

    TheSpeculator152 and Chuck like this.
  3. TheSpeculator152

    TheSpeculator152 Well-Known Member

    @tom, thanks. Will check it out.
  4. Andrei

    Andrei Well-Known Member

    Here are some thoughts:
    SOM - I was a member of SOM community, but never did any mentoring with him. However, I talked to his main mentors and have several conversations with Dan. I like Dan a lot, he created a very good community of option trades and also made it fun. However, after awhile I found his classes and webinars to be enjoyable but a bit repetitive and often too "generic". My trading did improve somewhat, but I probably have lost as much money I have made from trading condors and calendar spreads and other strategies he teaches.
    After awhile the biggest value for me was the community around SOM. But at this stage what you can get from this website and community is by far more valuable and educational. (Thank you Tom and Jim).

    SMB - I am a member of their Optionstribe community and I have viewed many of their webinars. SMB is where I found JL's courses. Again, Capital Discussions site is better and more accessible for new traders and more informative for more experienced ones. Optionstribe is worth joining, sometimes they have interesting presenters and they have a good library of webinars.

    JL - I am in his community coaching program and it is useful for getting some questions answered, but the main value is in his programs: M3, BB, Rock, APM, etc. It really turned my trading around and I mean MY trading. John's goal is to teach trading through his programs, not to just instruct on how to use them.

    So the bottom line: I would go with M3 then BB, these two are the foundation of JL's approach. Study then, backtrade or trade small, then you will find your own way and see how much one-on-one mentoring you may need. Now combine what you learn from his courses with this website and friendly people:), and you will have a winning strategy for yourself.
    Last edited: Jan 5, 2016
    Carsten5000, Vijay, GreenZone and 4 others like this.
  5. Meteor528

    Meteor528 Member

    I too started with Sheridan Mentoring (SOM). Prior to this, I had had very little exposure to options trading. My goal was to learn how to trade options because of the leverage they provided. I had a number of mentoring sessions with one of his mentors. and although the mentoring sessions and website were very good for learning the different trade types (ie. condors, butterflies, calendars, etc), I found that trading the Sheridan style of trades was getting me nowhere. Thus, the SOM program was good for me to learn the basics about options and option spreads. However, it wasn't until I saw a few webinars showing the John Locke style of trading that really got my interest

    So, after following John Locke on his free weekly webinar for a couple of months, I not only purchased his entire M21 System (M3, BB, Rock, M21) but have also had 1on1 mentoring with John and I have had very good success with his style of trading. However, although I own all his programs, I have actually only traded the M3 live. There is so much to learn with the rest of his programs that I am taking it slow until I become proficient in the M3. My next step is to trade the Bearish Butterfly. I will then start the Rock and finally put it all together with his M21 System. I also am a Premium member of his website so that I can better follow his weekly webinar and review it after it is recorded. The weekly webinar is free on Monday mornings at 9:00 EST, however, the recorded sessions of the weekly webinar and Trade Logs are only available to Premium members.

    To summarize, I totally agree with Andrei and his recommendations, Start with the M3 and work your way up to the BB and so on. If you want to trade with peace of mind and want to make some descent money trading options, I highly recommend John Locke's programs.
    Carsten5000, Andrei and Dale like this.
  6. David Stewart

    David Stewart Well-Known Member

    I would go with the Capital Discussions Mentoring program it it was me
    Chuck likes this.
  7. TheSpeculator152

    TheSpeculator152 Well-Known Member

    @Andrei and @Meteor528, thanks a lot for your thoughtful guidance on where to start! I appreciate your time in sharing your thoughts. For now, I am also very much drawn towards John Locke's approach - especially the M3 as it indirectly teaches one how to manage a trade by the Greeks - something I guess is A MUST for long-term survival. Others, outside of CD, have also suggested I start with the M3, so I am beginning to see a pattern emerge :)

    Having spent a few weeks following the CD Forum and participating in Tom's Round Table today and yesterday's Trading Group 2 webcast, I am impressed with how much collective experience is being shared with the community. I will sign up for a CD Gold membership once I can devote some more time towards options trading.

    Thanks again!
  8. Andrei

    Andrei Well-Known Member

    Start slow and don't wait for the perfect time to do it. Watch JL's free videos here on CD, SMB, Youtube. You will learn a lot. Them get M3 and start trading small. You will need OV or ONE to trade and to backtest. One you understand the basic approach, select a mentor. This way you will not waist your mentoring hours on the very basic stuff.

    Good luck and keep us posted on your progress.
  9. Kevin Lee

    Kevin Lee Well-Known Member

    I agree with everything that Andrei and Meteor528 said. My learning journey went through very similar path. I'd just add that insist on learning from someone who is not just good at communicating but a trading who is still trading live.

    Trading cannot be learned classroom styled. It is a craft that requires a good coach along your side to help you. During my initial years, I learned from options trading programs like Optionetics and SOM. These programs are useful for beginners but they are too generic. I believe today, I can get most of those knowledge from free resources on the web.

    I learned a lot of theoretical knowledge from these programs but couldn't become a consistently profitable trader. What really turned my trading around was learning from great traders like John Locke and Dan Harvey. The key difference is they trade what they teach and they have well tested trade plans you can follow. John even shows you his trade on a weekly basis - you get to see the good, the bad and the ugly.
    Avi, Andrei and RayM like this.
  10. TheSpeculator152

    TheSpeculator152 Well-Known Member

    @Kevin Lee, thanks for your perspectives. I really appreciate them.

    A plan is starting to form in my mind. Initially I thought about taking the SBM Options Foundation Course (part 1 + 2 @ USD 1,999) but after having followed this forum, listened to countless podcasts and read numerous books, I am thinking that starting with something like John's Super Simple Spreads, M3 along with mentoring from either John or Dave Thomas is a better option. Paying for someone to explain what the Greeks etc. are does not seem right - I believe in learning by back trading proven strategies to see how volatility, adjustments, etc. affect one's position. Does this sound right?

    You mention learning from Dan Harvey, do you mean indirectly via the forum or 1-to-1 mentoring? My understanding is that he does not mentor anymore.
  11. tom

    tom Administrator Staff Member

    Dan Harvey did mentoring for Dan Sheridan years ago but is not mentoring any longer. Dan does attend Trading Group 2 frequently and there are several really good recordings in the library.
  12. TheSpeculator152

    TheSpeculator152 Well-Known Member

    Yea, I saw your Road Trip presentation the other day. Pretty fast paced for a new options traders but fantastic to be able to tap into the wealth of knowledge you guys bring to the table.
  13. tom

    tom Administrator Staff Member

    There was a lot of information to get out in an hour. Sorry if it was a little rushed. Hopefully you can re-watch it with the slides and makes sense of it. :)
  14. TheSpeculator152

    TheSpeculator152 Well-Known Member

    @tom, I will but it is too advanced to start with. I like the style of trading as it fits with my risk tolerance but I feel I need to start with something more structured such as SSS and M3 to learn how to maneuver the Greeks.
  15. vega4mike

    vega4mike Well-Known Member

    As kevin alluded to, there are lots of free resources out there. Quite a lot more than when most of us started out ( I like most of the traders here started out with SOM). I will suggest John's youtube channel, which he started I think sometime in 2012, it is a treasure of knowledge if your prepared to do the hard work, i.e take one strategy & follow it through to its conclusion learning how he makes the adjustments along the way, hard work because its not organised in a way to make that easy to accomplish, but nonetheless its free and accessible.
  16. TheSpeculator152

    TheSpeculator152 Well-Known Member

    @vega4mike, thanks. I have already watched quite a few of the M3 videos - they are good as introduction but only show sample trades. I don't mind spending money on the M3 program to get an organized learning package.

    Also, as others suggested, back test it and get mentoring for hand-holding at the beginning.
  17. Tps

    Tps Guest

    Just about everyone here, including John Locke started with Sheridan. SoM provides a critical foundation, and I highly recommend Dan and Jay Bailey as mentors. Say what you want about simplicity, ect regarding SoM, but the bottom line is that Dan knows as much about options as anyone heree. I think a lot of folks over complicate options trading; Dan keeps it simple and practical. That being said, Capital Discussions is also an excellent resource.
  18. TheSpeculator152

    TheSpeculator152 Well-Known Member

  19. tom

    tom Administrator Staff Member

    Don't do the online classes. They are taught to a group and only last 4-6 weeks typically. Sheridan Mentoring used to be the only thing around back in the day. That's why a lot of use old heads came from there. These days, there are MANY more choices.
  20. Al G.

    Al G. Well-Known Member

    I personally, enjoyed and learned a lot from Sheridan online classes. At that time I did not know much about options and the online classes provided a way to learn how to put on a trade, analyze the trade in ONE software and most importantly risk management, it provided a very good base. However, if you are well versed on putting on trades and managing by the greeks, then the online classes might not be that helpful in that it will be covering ground you are already familiar with. Your best bet would be to take a look at Dan's free intro classes and see if you like his style and learn anything. If you do, then take the online class. If what he is saying, you already know then pass.

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