Sheridan Mentoring Administrative Fee

I am an som student that have listened to paul demers and jim riggio for years. I will be coming over here, because my account now has a timer on it. I sent Dan an email where he asked if we thought we had lifetime access we could keep it. ...But they are cancelling me anyway if I dont pay it. They seem to be taking a divide and conquer strategy where they are censoring us on the forum so we cant voice our displeasure. I have lost all trust.
 
Chris, you mean Dan is canceling your account despite you responded you were promised lifetime access? Wow ! That's bad.
Anyway, I think Dan is killing the goose that lays him golden eggs and he doesn't know it. The greatest value of SOM is the community and not Dan's teaching nor strategies. Dan is effectively killing the community.
 
I cannot speak personally, but a good friend of mine also speaks highly of the Option Pit training.

Posted by Kevins
 
Good Morning,
I joined 2 1/2 years ago and the reason I purchased the $6000.00 plan was because it was stated on the website that it was a lifetime membership. Now I'm told that this promise on his website was interpreted as a marketing tool by Dan. I'm sure that a first year law student could beat that argument. Mr Sheridan is swindling us. What we should do is collectively gather our resources and obtain legal council and get our money back. $6000.00 is a lot of money to just give this guy without fighting back.

Regards,
Elwood
 
See http://web.archive.org/web/20130301014648/http://info.sheridanmentoring.com/
As late as Mar 1, 2013, the Full Mentoring sales page stated:
  • 12-Month Access with Help and Support
    This access includes (minimum) 12 one-on one mentoring sessions. All live and archived sessions, private trading forums, a weekly live help desk and all other tools, features and content on our members-only website. You’ll have access to email and phone support if you have any questions. Indefinite Access after 12-months.
I didn't bold that now....it was bolded on the sales page so it was emphasized to have indefinite access.

The May 7, 2013 capture shows that bullet was changed to:
  • 12-Month Access with Help and Support
    This access includes (minimum) 12 one-on one mentoring sessions. All live and archived sessions, private trading forums, a weekly live help desk and all other tools, features and content on our members-only website. You’ll have access to email and phone support if you have any questions.
    NOTE: A small maintenance fee will apply after the first year.
The sales page changed after March 1, 2013 but before May 7, 2013. Therefore, anyone signing up before March 1, 2013 should have no annual administration fee in my opinion.
I'm disappointed that Dan said that the website sales page was "just marketing" and he's not bound by it. As was mentioned earlier, that smacks of deceptive advertising. You can't promise something and later say that you aren't bound by what you said.
 
I never "signed up" or joined Dan's group, but, like many, I was introduced to options trading when he did webinars and videos for the CBOE. I started paper trading and reading everything I could get my hands on regarding options trading. However, over the years, I began to see him become more "commercial" as he cut ties with OptionVue and the CBOE. Nothing inherently wrong with the changes, but they clearly showed something was going on.

I wish him the best and hope he returns to his "roots" as he has probably inspired a lot of people such as myself to consider options trading.

Posted by Rod M
 
Dan hasn't cut ties with the CBOE. He still does the Options Safari show, webcasts and seminars with them. OptionVue is a different story. Dan is a partner with OptionNET Explorer so it would be a conflict of interest.

Dan did certainly do a lot for retail option traders. I think he was the first person doing mentoring for retail option traders back in 2004, which did inspire many people to try option trading.
 
Sorry, I was referring to the hour-long webcasts he did, sometimes in conjunction with Jim Bickman. I never did understand the OptionExplorer thing, as Ovue was and is so thoroughly entrenched as a standard. and for the beginner, free access to TOS. He did succeed in causing OVue to drop their prices, so that was a plus.

Posted by Rod M
 
Tom,

I think Charles Cottle was doing mentoring before Dan. The difference was that Charles was more geared towards Pro and semi Pro traders. Charles has never marketed anywhere near the extent Dan has. Charles has always been very very careful about earnings expectations (some people not so much....) I believe that the first edition of Charle's book (Coulda Woulda Shoulda) was published long before Dan got off the floor.
 
Thanks Howard. I didn't know when Charles Cottle started teaching. Thanks for that! Charles's book is fantastic and highly recommended.
 
I think that what Dan had going for him was that he took what could be a very academic (boring) subject and made it entertaining.

Posted by Rod M
 
tom said:
Good Morning,
I joined 2 1/2 years ago and the reason I purchased the $6000.00 plan was because it was stated on the website that it was a lifetime membership. Now I'm told that this promise on his website was interpreted as a marketing tool by Dan. I'm sure that a first year law student could beat that argument. Mr Sheridan is swindling us. What we should do is collectively gather our resources and obtain legal council and get our money back. $6000.00 is a lot of money to just give this guy without fighting back.

Regards,
Elwood
Click to expand...

Elwood,
I feel your pain . The same thing happened to me. I like Dan and his service and I thought my $6K was for a lifetime membership. I felt ripped off when they changed the membership to have a 12-month duration. He should have treated us "early" members better. How much trouble would it have been to simply leave mu login active. No incremental costs for him. My bet is that his is in the process of selling his business and the investment bankers want to eliminate lifetime memberships.

Posted by johnfaig
 
Few weeks ago I visited Sheridan online forum. To my surprise, the forum is very inactive, with about 20 new posts per month (to compare, we have more than 40-50 a day). I posted three comments which disagree with Dan's opinion. All three comments have been deleted. Dan then emailed me and asked to call him. I replied that I'm a bit busy (which I was - unlike Dan, I'm actively trading). Then I get the following email from Dan:

"Kim, I asked you to call me to discuss this. Since you are to busy to talk, for now, I have taken you out of the community."

I paid $6,000 for a lifetime access, and now I'm banned because I was too busy to call him..
It turns out that this is typically what Dan does if he perceives someone as a competitor. He did it with Seth Freudberg, Mark Sebastian, Tony Sizemore, John Locke, Kerry Given (aka Dr. Duke), Casey Platt and I’m sure quite a few others. So I'm in a good company..

Fortunately, we have now forums like https://forums.aeromir.com/ and https://steadyoptions.com/forums/ where people can post without the risk of being deleted. We have some discussion about Sheridan Mentoring on our forum.

Censoring is never a good thing. It failed miserably in communist countries, and it failed at SOM. SOM community is pretty much dead, but Dan has only himself to blame.
 
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Seems like Dan Sheridan still hasn't realized he is killing the goose that lays him golden eggs. Long time ago, SOM community was vibrant. Now that has migrated mostly to here. We are enjoying censor-free sharing, thanks to Tom .
 
Their reaction is possibly a natural, though I would say that it seems that you wanted to voice an honest opinion. Often the worst thing that occurs is when someone does not voice their opinion. Good customers care, and those you lost don't say anything. In my opinion, some folks are unable to handle the truth and to use it as constructive feedback. I would not be able to out talk Dan, so I would not have bother calling.

When I look at the business model, it seems there is an endless supply of new students. However, that is as far as the mentoring goes. I liked certain things about it but.... If you wanted to further the learning you do have to move on.....which is why I do like Capital Discussions.

I will not be renewing when my membership ends. Don't see why I should pay for the dead forum. Furthermore, I welcome annual "free" anytime
Click to expand...

Well, the topic was about Karen Supertrader. To my surprise, Dan was actually defending her. I understand why Tom Sosnoff would defend her, but why Dan would do it is beyond me. I posted a link to my article from over a year ago - https://steadyoptions.com/articles/karen-the-supertrader-myth-or-reality-r110/, which was deleted immediately along with the post itself. Dan is really not able to handle any criticism, and censors posts that disagree with him. This was Tom's experience as well.
 
I suppose she is a good advertisement / association to get new students.

Personally, I like to listen to Jim and Paul's discussions but somehow their trading groups disappeared and replaced with the trading groups led by the mentors and Dan.
 
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