- - - - I wrote the full review before realizing Trustpilot has a word limit. So, this is the last half of my review. See "Part 1" before reading this. - - - -
After you've been in the course for a while, you realize that you have to occasionally break/bend some of their rules. Troy and John excuse their rule breaking with having experience in knowing which rules, and when, will cause you the most pain if broken. Plus, they'll claim a number of their trades fall outside the core strategy, but are within one of their other frameworks. But, you cannot trade within their framework without occasionally ignoring some of their rules while prioritizing others.
I'll admit to breaking a rule that seriously cost me. I went heavy on a stock (Nuscale Power, SMR) and it went deeper, faster than a nuclear powered sub. It is a stock recommended in Troy and John's lists of favorite stocks to trade within the LSO strategy. Plus, I'm a believer in the long term prospects for nuclear power. And, its Technicals were good when I entered the trade. But, "Don't go heavy" would be way above "Don't lose money" on my list of rules. My bad on that one. I'm not laying blame on LSO here. They would definitely recommend against this.
I had three other stocks that went way deep in the money, which I'm still baby-sitting, at much less than 1%/week. I didn't break any rules on those. My strategy for managing Covered Calls has developed from my four DITM trades. The LSO framework is not of much value for the CC half of the wheel.
LSO customer support is excellent for the most part. After-hours and weekend emails often were answered within an hour. The only bad experience I had was with one of their upsells, "Troystradomus". This course was advertised as giving insight into figuring out what sectors are poised to outperform the market, to assist you in selecting which stocks to trade. Well, the value of that course content was terrible. It was essentially Troy's autobiography and no person's life story is worth $159. To top it off, I only had access to the course material for 13 days when they cut me off without warning. So, they initially allowed my access to continue past my subscription end-date in order to take my money for this add-on course. But, then they cut me off without giving me adequate time to view it all. There were some bonus items that may have been worthwhile. However, I never got to view them because I didn't anticipate losing access so soon after having paid that much.
Having said all this, I would say that if you're new to Options Trading, this course, even at $2K, is probably worth the money. Especially if you could benefit from some hand holding as you risk your family's financial future. They won't baby you along though. They tend to do a good job at prodding you to spread your wings and get out of the nest.
I don't think the monthly access to their tools and community is worth $100/month. There are better wheel analysis tools out there for much less. And, they don't subject you to all the marketing and fawning over how amazing this course is.
LSO is a good way to get into the Schwab trading environment and learn Think-or-Swim as well. Just don't quit your job because you've got $100K to invest and can get by on $50K/year.
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We provide options trading training and software that focuses on helping all experience levels of traders generate weekly profit. Our methodology requires only a couple of hours a week to manage and is built upon very simple and consistent "low stress" option selling strategies. Based upon the widely respected Wheel Strategy, yet with a twist that allows for more rapid and consistent profit.See more