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Sheridan Options Mentoring

www.sheridanmentorin..
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Have you tried to learn how to trade from books or seminars? That's not the best way to learn a complex skill. Trading is a craft like any other profession! Did your doctor read books on surgery and start operating on patients? Did your airline pilot read a few books, get good at a computer flight simulator and then fly 200 people across the ocean? Of course not. They had instructors. Mentors. You can learn trading with the school of hard knocks, but that takes a long time and normally a lot of capital and stress.
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Dan's education works for me!
I have had a really good 2015 and it would not have been possible without Sheridan creating the classes and system to teach me the craft. It has taken me the better part of 3 years to really figure it out and own it (slow learner, lol), but I really feel like I can continue trading this way for the rest of my life. The hardest part for me was stopping the dumb mistakes, like "I hope, I hope, I hope" trading, thinking I was smarter than the market, and revenge trading trying to get my money back. I feel like there is a harmony and a cadence to income trading, and once you hear it, feel it and get into the tempo, it all just came together for me. Part art, part science. And of course the happiness I get out of closing a losing trade for a manageable loss so I can get back on my horse and go collect my next profitable one because I have the probabilities stacked in my favor. I am convinced my mentor thought I was going to flame out because during my mentoring sessions I was saying the right things but not doing them. So if anyone had a little side wager on my ability to stick with it, the one who bet on yes wins the prize!

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I bought Dan's program to save money
I have had a lot of experience in options education, I have completed many Options courses including the Investools PHD program. I don’t claim to know everything about options but I consider myself very well educated after completing the Investools course. I came across Dan Sheridan’s services from youtube, he did an interview with Karen Bruton AKA Karen the Super Trader (also an Investools PHD) and she claimed to have learned a bunch from Dan. On Sheridanmentoring.com they are promoting that they can get students .50¢ per contract with no ticket charge at an options broker. I trade thousands of contracts each month and found this hard to believe, I don’t get even close to that rate with my high volume. I called Sheridan and told his sales person that I found this hard to believe, but he assured me this was the case. I decided to spend the money on the Bronze Mentoring ($4000 to get the better options rate.) I was hesitant, but within 48 hrs my rate had been changed and I am now saving over $900 per month on my broker fees. The salesman also claimed to have dozens of Investools students in the Sheridan program furthering their education. I am still new to the community and am excited to start poking around the tools and resources.

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Better alternatives at lower cost else where
When I started learning options many years ago, I found sheridan options mentoring (SOM) a good way to get started. It was the best available learning resource I could find then.

In my opinion, what used to be great about isn't really Dan's teaching but the community. There were a dozen very dedicated veteran traders and mentors who contributed selflessly in the community forum. They continuously innovate and improve techniques as well as develop a really deep understanding of how options work in live trading. The community continuously sharpened the sword, turning basic butterflies, condors and calendars into more refine strategies that can be consistently profitable in changing market environment. All those knowledge is recorded and shared in the community at no extra cost.

Unfortunately, most of the great veterans and mentors in my personal opinion are gone. For one reason or another, they left the community. For example - John Locke, Mark Sebastian, Dan Harvey, Jim Riggio and Seth Freudberg, just to name a few. Now, the community is far less active than before and the quality of the sharing has dropped tremendously.

Seth Freudberg went on to set up the options education in SMB called OptionsTribe http://optionstribe.com/

Mark Sebastian set up OptionPit http://www.optionpit.com/blog

John Locke started his own mentoring program (http://www.lockeinyoursuccess.com/) and created a popular M3 butterfly strategy which he shows on OptionTribe and on Youtube every week for free.

Jim Riggio set up http://capitaldiscussions.com/ A popular community among advanced options traders. Many of the ex-SOM veterans are now members of Capital Discussions. The sharing there is very similar to the previous SOM forum and it is very active. Membership is free.

All the resources above are either free or significantly less expensive than SOM. Therefore, in my personal opinion, they present better ROI. Beside those listed above, TastyTrade founded by Tom Sosnoff, the ex-founder of ThinkorSwim is another excellent free resource - www.tastytrade.com The amount of content there is mind boggling and the quality of the content is better than many paid resources.

Obviously, some will find SOM most suitable for them. My point is do your research before spending your limited options education budget.

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Best Year EVER!!!
I just wanted to write to this to say thanks to Dan for all the advice during my mentoring and afterwards. This year was my best year ever. I still have a lot of work to do as I only made ~16%. I didn't manage the early part of the year very well, but I stuck to the plan and fought my way back. My first year after mentoring was my worst as I was doing a lot of trading jujitsu, constantly changing my strategy. I tried to trade like a 5th grader in 2014: put on a butterfly when the vols were high and put on a double diagonal when the vols were low. Stuck with RUT and SPX. I really like those two trades, especially with the little tweaks I am adding after backtesting 2014 again. I feel confident to increase my size a little now and will be adding a couple no touch trades. Thanks again for all you guys do. This stuff makes grad school a lot more interesting (and its already pretty interesting)...

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Dependable education that delivers.
I was driving across northern Arizona on the interstate, going 80 miles and hour, very frustrated with a trade that hadn’t worked out for me. I was thinking about Dan and all of his classes, giving out his cell phone number saying, call him when you want to. It was a late Friday afternoon, and I decided to give it a shot. Not only did Dan answer the phone, he went through the trade, he built it on his own computer, because I was driving I couldn’t give him all the details. We talked through the details, we talked about what I might have done, what I could have done, what I should have done, maybe. He truly helped me with the long term by giving me those ideas and just being accessible. I love the support you get from this group and I think it’s the best thing going.

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Traderbill2080 Zanesville, OH

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Fantastic options Education with personal support.
I ran into Dan a couple years ago. I was stuck at home with an injury that prohibited me from working physical, not mentally. Ran across options trading and looked at my various offering out there and saw that Dan was highly recommended. When I talked to him personally and my experience in the program found that those recommendations were, if anything of short of what the program is. I was really excited to see that he didn’t promise a million percent return in the first year. It’s hard work but it’s also not impossible. So my experience with Dan and Jay in particular has been fantastic. Also with the software that allows us to investigate these ONE, it’s been great and I continue to use that daily.

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Mkomar Brookfield, MO

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Sheridan Mentoring is about getting results from trading.
I’m holding in my hand an article that Dan wrote in 2007 in Stocks & Commodities magazine. It starts with, “Options seminars go together like baseball and hotdogs.” Dan’s consistent, because he still talks about Portillo’s hotdogs in every one of his classes. But the point of this is to explain what I think differentiates Dan and the great Sheridan team from other competitors, who seem promise the world and probably present good material, but don’t seem to deliver or to get people motivated for results. Dan consistently reiterates that trading options is a craft, it’s about doing. Somehow I think he gets the class motivated into actually doing trades. You have to understand, Dan will say things like, “Put on this trade thirteen weeks in a row, and don’t stop until you figure it out.” And his point is, you have to put on the trade, you have to be in the trade, you have to know what it’s like when things start to go against you and how you’re going to adjust, or what your going to do in these trades. [You need] to understand some of the challenges of the trade and work through that craft. He will use a lot of examples like cooking pasta. You can be instructed on how to cook pasta, but until you cook pasta 100 times you wont’ understand the subtleties of the craft and cooking pasta. You won’t understand what spices to put in…It’s important you learn to consistently put on a trade and Dan and the crew seem to do that. They give good examples, they give good examples of results and how they’re traded it.

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Dave1492 Montgomery , TX

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It's All About The Theta!
Sheridan Options Mentoring (SOM) is all about theta. And not just the kind you get to keep as money in your trading account either! It’s also about the theta you get to keep from sharing ideas with other members of the SOM communities, using those ideas to adjust your trades and even design new trades to manage risk and make more theta. Dan Sheridan said it best during one of his many multi-weekly webinars and mentoring sessions, ‘we’re basically a worldwide lab for options trading.’

Frankly, it’s just the greatest resource for options traders. One fee gets lifetime access - although there are additional fees for annual access to the website and optional real-time trade modeling software. But the countless webinars and trading groups are available in real time all week long and archived for reviewing anytime, and as many times as you want. The mentoring gets you started in focusing on trading for income – trading for theta by understanding the option “greeks’ and how to read them to adjust your theta-based trades. I’m a member of SOM and I highly recommend it!

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Cklvdino Wauconda, IL

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Best investing move I ever made
I joined Sheridan Options Mentoring in late 2008 with the goal of trading options for a living.

Prior to that I had been trading options in my spare time with mediocre results, not knowing what I was really doing. Sheridan’s mentoring jumpstarted my trading, and gave me the knowledge and experience to build my trading ability. Together with your mentor you put on and manage trades in each of several strategies so as to gain experience as you learn. A big advantage of the Sheridan program over others is the mentoring spans a period of about 6 months, so you have time to watch and manage your trades. The ONE software they use lets you backtest any strategy using real historical prices, and it is modern software and less expensive (compared to the other options analytical package out there).

Another factor that sets the Sheridan program apart is it has an intense focus on how to manage and adjust your trades once you are in them. I have seen other programs that simply teach (in 2 or 3 days) what the strategy is and how to enter it. The real skill comes from knowing how to manage the trade while you are in it, and when to exit.

Dan Sheridan has built a community of members who are trading options and you have access to literally thousands of recorded (and live) Webexes of how they trade, and you can contact them directly. Most explain in detail how they trade and will show you their actual results. Dan makes 5-10 new webexes each week. There is no other program available that works like this, and once your mentoring is done this is the most valuable part. My mentoring got me started, the community catapulted me forward in my trading ability. Many are good friends.

Your membership gives you access to the “trading groups”, which are a group of the community members who meet online about once a week to discuss their trades, work on new trading ideas and help each other out. Again no other program has this.

As with any area of knowledge you get out what you put into it. If you are willing to work at it, and study the craft this program gives you what you need to become a successful options trader.

This program has allowed me to realize the dream of being a full time trader and leave my professional career for good. It is the best investing decision I ever made.

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The best "Real World" approach I have seen yet...!
Dan Sheridan is a salt-of-the-earth kinda guy! His personality and charisma is what drew me in from the others. I have spent plenty of money over the last decade+ trying to find an educator that got me, so far, Dan is the only one that has! I am also a Forex and Futures Trader and would like to see his Community expand to these and other areas, but in the Options World he is Tops!

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