Is Option Alpha a Scam? Free Courses, Is It Bait?
Welcome to my Option Alpha review. Are you looking to trade the stock market? I am sure that you agree with me when I say that there is a wealth of information online, especially when it comes to making money online. It can become confusing and overwhelming. Who do you listen to? Who do you trust?
Option Alpha is one such platform that offers load of free courses. Is Option Alpha a scam or is it a decent way to make-money-online? I am going to show you what the platform is all about, whether it worked for people, and most importantly, if it's the right platform for you to join.
It is my hope this review will give you all the information that you need to make a sound decision.
WHO IS THE FOUNDER OF OPTION ALPHA?
Kirk Du Plessis is the founder and head trader of Option Alpha. The company came into operation in 2007.
According to his LinkedIn profile, he studied at the University of Pennsylvania and obtained his Bachelors of Science at the University of Virginia in 2008.
Kirk is a former M&A Investment Banker and REIT Research Analyst.
WHAT IS OPTION ALPHA ALL ABOUT?
The mission of Option Alpha is to provide an all-in-one platform for retail investors and traders by offering first-class education, groundbreaking research and data analysis, integrated backtesting, and crowdsourced intelligence software.
In 2020, the company announced the release of the first public auto-trading platform for stock and options retail investors.
According to Kirk, Option Alpha is home to more than 240,000 investors from 48 countries. It has also been featured in industry-specific investors such as Nasdaq, Inc.500, and Investors Business Daily.
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HOW MUCH DOES IT COST TO JOIN OPTION ALPHA?
The latest news is that there are no pricing options available at this point.
You can sign-up as a free member and access their free content. I am going to show you in a minute, exactly what the free stuff is about.
I read from other Option Alpha reviews that they usually have a Pro-membership package as well. This upgrade gives one access to receiving daily trade alerts, the nightly video review, and their current investment portfolio.
At this point, the developers of Option Alpha have launched their new automated trading platform that is in the beta phase.
You can sign-up to their waitlist, to be in line to test it.
At the time of writing this review, there is only a free membership available.
THE OPTION ALPHA EDUCATION COURSES
As a free Option Alpha member, you have access to 10 Complete courses that cover trading.
They are all made in video format.
These are the various topics that are covered within the program.
- Option Basics (20 Video Lessons)
- Entries and Exits (26 Video Lessons)
- Options Expirations (11 Video Lessons)
- Bullish Strategies (12 Video Lessons)
- Neutral Strategies ( 7 Video Lessons )
- Bearish Strategies (13 Video Lessons)
- Portfolio Management ( 16 Video Lessons)
- Pricing And Volatility (12 Video Lessons)
- Trade Adjustments (15 Video Lessons)
- Professional Trading (14 Video Lessons)
And these lessons are not the only educational tools that Kirk provides. There is some high-quality podcast on Youtube as well.
There are also e-books and guides that talk about exit strategies and a checklist for entering a trade.
You also check out his blog. And if you want to know how to make money by writing online, check out this article.
WHAT IS THE OPTION ALPHA FULLY AUTOMATED TRADING PLATFORM ALL ABOUT?
Apparently it's a stand-alone trading platform that allows you to automate your trading strategies (stocks or options) with absolutely no coding required.
Kirk and his team spent five years developing this platform.
How does the Option Alpha automated trading platform work?
The first step is to link a brokerage account to the platform. Or if you still not feeling confident enough, you can always just do paper-trading.
Then you create an automated strategy, also known as a ''bot.''
Then the platform handles the bots but you still have the last say on how your trades are managed.
You can create simple or complex automation. You can save them as templates. And these bots will prevent you from missing an exit position in your trades.
Here is a video on the new trading platform in action.
WHAT I LIKE ABOUT OPTION ALPHA
Unlimited access to loads of free courses
Plenty of Youtube training videos and podcasts.
Membership packages are not contract-based.(when it was offered to the public)
The company has a long-standing in the market
The company honors refunds
Good support team
WHAT I DO NOT LIKE ABOUT OPTION ALPHA
Have to be on a waitlist to test the new platform
Not a passive income earning opportunity. You have to be actively engaged in trades.
OPTION ALPHA COMPLAINTS OR COMPLIMENTS
There were lots of rave reviews about all of the free stuff that Kirk made available.
Lots of positive feedback for the podcasts and YouTube videos.
But at the end of the day, it's the results that speak volumes. And there are REAL testimonials as well.
Take a look at some of them below.
Do keep in mind that these testimonials were recorded in 2019. I would like to see the feedback on members implementing the new automated system. So watch this space.
IS OPTION ALPHA A SCAM? MY PERSONAL OPINION
Kirk provides value in the courses. I like the fact that nowhere on the site, are indications of him selling you on a 'dream' or ' an empty promise.' It's not like Cash Sniper and CB Wealth, where the owners promise you the world.
You don't hear anything about getting rich quickly. Option Alpha has also been around for a long time, and that means that Kirk is doing something right.
If you have a keen interest to learn more about the stock market and options trading, it might be a good start as far as the free training is concerned.
I think that it's a better alternative than signing-up to a broker and following his advice.
At the end of the day, you are investing in yourself. You are educating yourself and learning the necessary skills. By educating yourself, you risk losing hard-earned money.
Venturing into the stock-market game does require a great deal of your time. And while I agree with Kirk, that you may only need a few hours of the day for the training, it's a different story when it comes to the actual trading with REAL money.
Once your money is locked in on a trade, you have to keep an 'eagle-eye' on what's going on and when to take action. (Things might change when the new automated trading platform is made available to the public.)
I also learned that there is no one strategy that is successful all the time. On quora.com one of the more frequent and professional investors recommended that if you are a newbie, it is advisable to have a "multi-year track history of trading." and a "deep and not superficial understanding of the maths involved."
Like any business, it requires patience and discipline.
At this point, I would not say that Option Alpha is a scam. However, I would not recommend it either.
With the new trading platform still in the beta phase, there is not much feedback from members. Therefore the success rate is not known. I will definitely update this article, once this info is made public.
As I said if you have an interest in learning about the stock market, it does not hurt to do the courses though. It's free and it can give you a good idea of how the trading world operates.
If on the other hand, you are one who does not like the numbers game and looking to earn a passive income, then take a look at my number recommendation here.
INVEST IN THE GREATEST ASSET YOURSELF
The online world offers you the real possibility of not only earning REAL money online but also the chance to earn a passive income.
In other words, you can build yourself your very own business that will reward you on a recurring basis.
The key is that it starts with investing in yourself. Investing in learning the necessary skills to making this possible.
The good news is that you can get started even though you might not have any experience. You do not need to outlay huge fortunes to get started.
You also will not be alone on your online journey.
Thanks for checking out my Option Alpha review.
I hope that it has helped you out.
Have you tried micro-job sites before? If so what was your experience like?
Looking forward to hearing from you.
Kind Regards and Take Care