Random Walk or Sheridan Mentoring

[jwhere]

First off, I just want to say thanks to everyone who posts here. I have been studying options for a couple of years and appreciate the help that everyone freely provides from their posts.

I am comtemplating pursuing the Sheridan Options mentoring program. My question is to those who have used the books provided by Random Walk, in particular the One Strategy, Time Spreads, and Option Greeks texts. Do you feel the books are worth the investment if I am able to join Dan's mentoring program?

I appreciate all the help!

[Peter77]

Hi Jwhere,

I have purchased all 4 books from Random Walk, and I must say they are pretty good books - quite detailed and practical rather than just theory. Although, they are quite expensive and one wonders sometimes whether they justify the cost. After reading them, I don't actually actively trade any of the 4 strategies at the moment (not because I don't like them, just that I am concentrating on Iron Condors, and that is not one of the book strategies).

Do you really need to purchase them to do a Dan Sheridan mentoring program? I would encourage you to buy them if you can fit it into your budget, but I wouldn't say they are the magic bullet or anything...

[Mojo]

I highly recommend Sheridan for his mentoring program. In my eyes the best value out there for $6K with strong points for being systematic and managing risk.

Mojo

[Marcelo]

Hi, Mojo

COmparing the SHeridan Mentoring and Investools High Probability, which one would you consider the best return for your money?
Thanks

[Mojo]

I only went to the first High Probability class that Investools put on. Very good instructors but I felt like the level of the class wasn't as high as promised and I was a bit disappointed. From what I've heard they have done a lot to revamp it and keep the same great instructors. HPT is really for folks that have mastered the basics and are looking for HP trades to add to their quiver.

Sheridan, on the other hand, is a much broader education in options. He takes students a long way down the run to running their option trading "like a business" and does a great job managing risk.

So, it really depends on where you are in your training and what you hope to accomplish.

Mojo

[Julia124]

Just signed up with Sheridan. I did my research (option-related yahoo groups and elitetrader forum) and I know that's exactly what I was looking for - detailed plan for each strategy with variations in adjustments. As for RandomWalk, someone mentioned that BWB book does not cover adjustments, their website does not have "look inside" or even contents, and the price is completely off.
Besides having full-time job while taking Sheridan's course is not a problem.

Julia.

[jwhere]

Thanks for the replies so far!

I received an email today from Random Walk, which I'm sure most of you have as well. I already have the collars book so I am able to get the remaining three (Option Greeks, One Strategy, and Time Spreads) for $700. From the responses so far it sounds as though the consensus is to save my money for Sheridan's mentoring program. Does Random Walk's new deal change anyone's thoughts?

Thanks again!

[Mojo]

Nope, not for me but I also haven't read any of the Random Walk books (OK, the original one from the 70s but the new ones you are talking about).

Mojo

[chinigun]

My personal opinion is do both if you can (especially the level 1 essential seminar from RWT). I've got all the books and done most of the courses from RWT and I've also joined Dan's mentoring program. The RWT is very much tailored for people to trade with the knowledge like a professional floor trader. Their current Option professional course is very good and covers things in practice (not theory) that most option texts miss out. It will also cover stuff that the Sheridan Mentoring program doesn't but that's not to say you can't pick it up during the live sessions or from others in the Sheridan mentoring community. If I was a beginner though I would probably pick the Sheridan mentoring program as it is a very well rounded program to get you from a beginner to trading with real money with very good support. However the depth of knowledge (from a professional perspective ie floor trader) will not be as explicit (ie contained in manuals etc) in the Sheridan mentoring program. Again no silver bullets in the RWT stuff but there is stuff I think all option traders should know (but not necessarily have to use) like how to avoid pin risk, when to expect assignment etc etc (this info may of course be in other books that don't cost as much!).

cheers,

Michael

[shazza007]

Wow. I just started posting in here because I really like the blog and subscribe to that. I am also a member of Sheridan's community and have been with them since Feb of this year. It is nothing short of fantastic and I can't say enough good about it. Yeah. That good. Tough to feel great about spending $6k on anything these days. But Dan's program? Worth it.

And no. I don't get paid in any way, shape or form to say any of that. If you're a member of his community, you'll soon find yourself feeling the same way! LOL. Kinda fanatic sounding, I guess. LOL.

I did research a lot of the other programs out there. Sheridan's is good due to the lifetime community aspect. But like Michael said in his post, there are no silver bullets and Sheridan's program requires a lot of effort from the student. If you are serious about learning income options trading, then his methods are terrific. If you want the fast gun approach of spec trading, then look elsewhere!

Now having said all of that, I must look into this RWT stuff as I'm unfamiliar with it.

Just my two cents. Oh... and if any of you join Sheridan's thing? Find me in the forums. My name is Share. Always happy to meet my fellow traders!