Elizabeth
What an experience!
In November 2018, I attended the a presentation from Kevin O'Leary in Alberta Canada. I had no idea it was put on by Interactive Trader and the focus was actually about learning to trade options. I found the presentation very captivating and decided to sign up for the 3 day workshop. Yes, there was a very strict sign up time and the cost was $1,300 CAD, but they let you bring another person. So technically 2 people can split the cost. They also allow for a reimbursement of this $1,300 CAD fee if you achieve a few things - completing the online videos and getting a 70% grade on a quiz, placing 20 virtual trades and 20 live trades (can be a combo of stocks and options) I did experience a bit of buyers remorse because I felt so rushed and then read some reviews that night, so I called them and they were very nice said I could attend 2 days of the 3 workshop and if I didn't find it helpful, I could cancel and get my $1,300 CAD back. I said ok, and went to the 3 day workshop. The 3 day workshop was intense! I had my suspicions that it was going to be a sales pitch and knew there was a big price tag attached to the advance training. The workshop presenter was very engaging, there was a lot of material to cover, so there was no questions. Occasionally vocal people would yell out questions cause they wanted to get to the answers fast, and the honest truth, is this isn't a "get rich quick scheme" trading options is complex and they try to give you a lot in a short period of time. Yes, there were people frustrated that left and of course this isn't for everyone. There's an element of "training the mind and coaching" that goes along with the 3 day workshop, which I think works, people have to be in the right state on mind if they want to invest in something like this and follow through. So if they weed people out, it's probably for their own good. We did have quick meetings with our consultant, ours was a young man who worked with us to see what our goals were and to understand our situation. Initially I expected sales pitch, but he wasn't like that. Maybe we got lucky. The full 3 days were of intense learning and testing our wits, but my partner and I were pumped and took it all in. On the 3rd day, we were told more in-depth about the advance training and the cost. The full package is priced at $20,000 CAD. But our consultant and worked out a plan that met our needs, and then I understood better why the consultant meets with students, it's because they can help you if you really want to learn to trade options. The final cost of an advance training package is for 2 people, so you can split it to minimize the cost. We signed up for a package for the advance training and opted out of few things for the time being. Another person there mentioned that they did that as well. Our package included a 2 day live trading lab which was extremely helpful and 1 on 1 training on the platform and technical analysis. In between the time following the 3 day workshop and the lab, we watched a lot of the videos online and took the quiz and got prepared. The videos are very helpful and the resource line is fantastic, the customer service is amazing. We also started doing virtual trades. Once at the lab, there was some review of options and then practice on the platform. Sure there are very complex spreads but the directional calls and puts get easier and easier to understand. After the lab, there was certainly an increase in confidence for many people there. The virtual trades are really helpful to see what you're doing right and wrong and the resource line is extremely helpful. I do think that this options trading education is quite expensive, it's certainly not for everyone, it can very complex if you don't slow down and dedicate time to learn it. It's true that they say about trading options "one way or another you're going to pay for it." It's either going to be through the expensive education or learning it on your own and making costly mistakes. You don't get the support and knowledge base on Youtube and the internet. These people are very good at what they do and the way the company is ran is very successfully. I know that it's going to take several months if not a year to make back the money as we begin live trading. But the education is worth it. It really did seemed like a boot camp. Tough in every way, but so applicable and rewarding in the long term.