In my search for strategies to achieve financial freedom, I came across Interactive Trader’s 3 Day Stock and Options class. I must admit that I wasn’t exactly looking for a class on trading stocks, but I’m always open to learning more about the market to become a better investor.

It all started when I was surprised with tickets to see one of my favorite sharks, Kevin O’Leary, in Santa Clara, California. Prior to seeing Mr. Wonderful take the stage to give his thoughts on finances and investing, two other guys I never heard of before, Jeff Tomasulo and Steve Sitkowski, shared some interesting insights about money and were promoting a program/class that teaches you how to analyze the market and profit no matter how the market is doing.

At the end of their sales pitch, they offered a 3 day $997 class to teach you how to trade options (puts and calls) for cash flow. My wife and I decided to give the opportunity a chance because it covered two people and a full tuition rebate/refund would be given if you placed 15 live options trades within 60 days of completing the workshop training. Below is my review of Interactive Trader’s 3 day class on trading options.

First off before I start my review…

I’ve been to several financial/wealth building workshops before and understand that their aim is to try to sell you on courses, tools, coaching, etc. My objective for attending the Interactive Trader workshop was to increase my understanding of trading options which always confused me, pick up gems of financial truths, and network with others also pursuing financial freedom. I also intended to keep an open mind to any products/services that would be offered. My personal review is to help others interested in attending or purchasing an Interactive Trader course because at the time of this writing there aren’t many real reviews on this organization and its products. I’ll be sharing my personal perspective and notes with the hope that it helps you with making a decision. There may be some “spoilers” which can take away from taking the course from a fresh experience, so feel free to scroll to the end for my summary and key insights.

Day 1

The first day started on a Thursday evening and was held at the Crowne Plaza Hotel. There were about 30 attendees ranging from college students to folks close to retirement age. The workshop was well organized with plenty of staff to help us register and distribute workbooks/training materials.

Our lead trainer/instructor, Stephen Libman, appeared transparent and personable. Before diving into the details, we all reviewed the objectives and expectations of the workshop. We also reviewed the traits of successful vs unsuccessful students.

Key Objectives:

1. Get you to start THINKING like an investor
2. Teach you the power of PROBABILITIES and how to profit in any market environment
3. Set you on the path to becoming an ELITE INVESTOR

Workshop Objectives:

1. Education & Application
2. Motivation & Interaction
3. Change YOUR Paradigm (the way you look at things)
4. Lifetime of Education and Success

Successful Students:

• Are Passionate
• Push Themselves
• Have Patience
• Collaborate
• Talk about Ideas
• See What Others Don’t
• Give Back
• Have a Clear Understanding

Unsuccessful Students:

• Are Distracted
• Don’t Accept Change
• Are Impatient
• Try to Do It Alone
• Say It Can’t Be Done
• Blame Others
• Are Self-Centered
• Complicate the Work

One thing that impressed me with Day 1, was taking the time for us all to really think about our motive to act, our Why. One question really had me thinking: “List the 3 most meaningful, non-financial changes you would like to see in your life.” It was difficult for me because it made me realize that many of my goals were based on money. If money was not an issue, what would be your top 3 goals?

We were then asked to give an account for our current rates of returns on our investments. Again, this had me thinking. I’m invested in the stock market and have retirement accounts, but I don’t have an accurate picture of my rates of returns and any associated or hidden fees. I was definitely motivated to gain clarity on my investments.

At the finish of Day 1, we covered why you should trade options, key terms/definitions, how to open a trading account, were introduced to our consultant (i.e. salesperson), and given an assignment to read Who Moved My Cheese by Spencer Johnson. I was pleased with the information presented and my interest for learning more about options was sparked.

Day 2

Our first full day of training started promptly at 9am. The morning began with a group discussion on our reading assignment and investor psychology. We then watched a video on crab mentality. The rest of the day consisted of introductions to mutual funds, exchange traded funds (EFTs), buying and selling options, technical analysis, and case studies.

The second half of Day 2 consisted of a speedy review of advanced strategies (e.g. bull put spreads, bear call spreads, collars, iron condors) As most of us were obviously lost and confused, Stephen wrapped up the day with telling us about Interactive Trader’s advance programs and a story about missed opportunity where one of the co-founders of Apple, Ron Wayne, foolishly sold his stake in the company (which would have been work $90 billion today).

The key take away for me from Day 2 was the concept of Trade Management and Repair, outlining a set of disciplined investment rules for trading:

1. Don’t invest more than 10% (of your portfolio) in a trade
2. Never lose more than 2% (of your portfolio) in one trade
3. Make sure you will gain more if you’re right than you should lose by the time you realize you are wrong

Our assignment for the day was to identify 3 financial news stories which might impact the market in the coming week.

Day 3

Our final full day of training began with going over our homework assignment and investigating companies which would likely be affected by news headlines and current events. It was fascinating to apply cause and effect analysis on news stories we typically consume without really thinking. Stephen did some virtual trading with potential options strategies to use to show us what was possible.

Then, we again quickly breezed through some more advanced strategies (e.g. covered calls, straddles, strangles, butterflies), futures, and cryptocurrencies, followed by a video with testimonials about Interactive Trader’s advanced programs and upcoming dates for their advanced workshops.

The key take away for me on Day 3 was to protect yourself at all times. The average person does not have a will, a living will, and living trust. Most people insure their car and home, but not their life and estate.

The 3 day training actually ended early with plenty of time to speak with our consultant to make a decision on whether to purchase any of the advanced programs which consisted of 3 packages: $19,997 for Platinum, $24,997 for Elite, and $33,997 for Elite Plus. We were then divided into two different groups: those who purchased and those who didn’t purchase advanced training. Whether you decided to purchase additional training or not, everyone was treated with respect.

Summary

In the end, I felt that Interactive Trader’s 3 Day Stock and Options class was worth the $997 price tag and time commitment for beginner options investors. It introduced and re-introduced important investment strategies and philosophies, but buyer beware! I did feel a bit misled as to the rebate (full refund of $997 tuition after making 15 trades) because after 3 days of training, my partner and I did not feel knowledgeable or comfortable enough to make any options trades. This doesn’t mean that we won’t take action, it just means that the $997 class did not prepare us to make simple options trades and we’ll need to further educate ourselves in order to take advantage of the rebate.

Overall, the training was composed of general investment advice, important life reminders, startling financial facts, motivational quotes, and a rushed review of options trading strategies. The main benefit for me is that this workshop piqued my curiosity about trading options.

Here are my pro’s and con’s for the 3 day course:

Pros:

• My wife and I are more openly talking about finances and our money-related goals
• A desire for learning more about investing has been sparked
• I’m thinking more like an investor (as opposed to a consumer mindset)
• Being mindful of world events and their effects on the market
• Very low sales pressure. Yes, they will try to sell you on their advanced programs, but they won’t push you and their tactics are very subtle. I’ve been to other workshops where they really apply the pressure and shame those who chose not to buy what they were selling.

Cons:

• The training does not prepare you to make a simple real-world options trade. I’m not sure if it was by design, but the training jumped back and forth between strategies without confirming understanding from the audience. Instead, we were told that we’d all eventually “get it”.
• The workbook provided is essentially just a glossary of terms. I was taking vigorous notes, but the presentation did not help us complete workbook at all. After reviewing my workbook, it’s mostly blank with concepts we never really covered
• We were misinformed about getting two Interactive Trader accounts. We were told to call into customer service the following Monday to activate two separate accounts, but when I called they stated that this was not true
• Asking questions was discouraged. Yes, I understand that questions can take up time and lead to unrelated tangents, but asking question should be a welcomed part of the learning process. We were told to write out questions down, but Stephen never really covered questions posed by other students, except for when it was convenient
• Engaging/interacting with other students was discouraged. Ok, it may be true that when pursuing financial knowledge, we shouldn’t consult with other unexperienced investors (i.e. the most expensive advise is free advise), but I believe there is power in sharing your journey with others

Why I didn’t purchase Interactive Trader’s advanced training

I must admit that my partner and I heavily considered purchasing the Platinum or Elite program. After Day 2, we were actually leaning towards purchasing advanced training. It was during the lunch break of Day 3, where we went on a walk and decided that we would not move on with the advanced training.

Here’s why:

• If the introductory course was any indication of preparing us to make real trades, then the structure/delivery of information didn’t meet our needs
• Our consultant didn’t take the time to really understand our financial goals or go over a concrete strategy to achieve our goals. I was turned off when we were told it would be “easy” to make enough profit to pay for the advance program
• I asked my consultant if we could speak to any of his current or previous students to get an honest opinion of the program. He said he’d look into it, but we never got what we asked for
• Upon research of Interactive Trader (Response Marketing Group, LLC?), there wasn’t enough information about the company, even though we were told that they’ve been in business for 20+ years. Also, the lack of alumni reviews/responses was a warning sign. Most, if not all, of the reviews you’ll find are promoted by Interactive Trader. I only found one real, thoughtful review. Don’t get me wrong, I take all the online negative reviews with a grain of salt and they didn’t influence my decision because most of these folks are just looking for an easy, get-rich-scheme. The issue is that there aren’t any real, honest, and independent positive reviews for their advance training
• There are plenty of other programs out there (for a fee and free). I understand there is value in paying for speed of acquiring knowledge, but I felt that the Interactive Trader programs were significantly overpriced for the value you get
• The one striking benefit I desired from the advanced training was a connecting with a mentor, but it sounded like students weren’t assigned a dedicated mentor. I was inspired to tap into the knowledge of my father, who has been trading all his life, but I just didn’t know the right questions to ask regarding options trading. Instead of taking a risk and paying for a mentor I’ve never met, I decided to leverage relationships in my life that already exist

Next Steps

Even though I decided not to purchase advanced training this time around, that doesn’t mean my pursuit of knowledge and experience is over. Here’s what I’m committed to doing:

• Taking full advantage of all of the tools and resources provided by the $997 interactive trader course (e.g. instructional videos, virtual trading, 1 year customer support)
• Connecting with and growing my relationships with mentors
• Researching and taking other paid programs offered by reputable sources (e.g. Investopedia, The Motley Fool, etc.)
• Attending local meetups and networking with other experienced options traders
• Making at least 15 trades within 60 days to get my $997 refund!

Key Insights

Finally, here are a list of quick insights I jotted down during the weekend class that caught my attention:

• Know your motive to act!
• There’s a psychology to successful investing. Use logic and strategy; most people use emotion and greed
• Everything has to do with what we believe. Whether you can or you can’t is based on what you believe
• The fastest way to change yourself is to hang out with people who are already the way you want to be
• Don’t rely on only one income source. Become “job optional” where you can choose whether or not you have a job
• Most people want to be successful but they don’t do anything about it.
• Time does NOT equal money. Time equals freedom. Time is more valuable than money
• Genius is common sense at an uncommon level
• Treat your life like a business. Pay for speed and pay for avoiding mistakes
• On the other side of your comfort is the life you’ve always wanted to live
• Nothing is more expensive than a closed mind
• In order to succeed, your desire for success must be greater than your fear of failure
• “Life opens up opportunities to you, and you either take them or you stay afraid of taking them.” ~ Jim Carrey
• Protect yourself at all times!

I sincerely hope this review has been helpful to you some meaningful way. Remember, your financial future is 100% your responsibility and you’ll need to make a decision about what you want achieve in terms of financial wealth.

Feel free to reach out to me if you have any other questions or would like to connect by clicking here.