There is a vast sea of stock option trading services out there, and it’s easy to get lost. Instead od drifting aimlessly, floating from one to the next, it’s valuable to ascertain the qualities that are your “must have’s” in the service you choose. Here are some things you should look for.
Minimum Portfolio Size
A lot of newer traders may not want to dive in with a minimum portfolio size commitment, but this is exactly what you want to look for in your stock option trading service. Why? Because this means they vet their clients based on whether or not they are serious about making money—and serious enough to commit considerable capital to their trading. Serious traders require a well-founded platform and trading service. A service that requires a minimum portfolio size is more likely to have real professionals who aren’t just out to take advantage of optimistic newbies.
A Solid Offering of Tools
The tools you need to make trading decisions have to be available with your stock option trading service. Sometimes, an options service will have limited charts or even no charts at all, while they are a staple of stock trading services. The ones without adequate charts need to be avoided. They are trying to make options trading look like a simple gamble. And you don’t want to gamble or over-simplify these investing decisions. Look for trade analysis that is supported by charts for each trade.
Reasonable and Predictable Trade Durations
A stock option trading service needs to have a specialty. Specific strategies should be used to achieve steady results. If the stock option trading service you’re looking at has trade durations that vary too widely, go from one day to five or six months, that likely means they are spreading themselves too thin. Look for a company that specializes in either long or short term options. Their trade times should either be about a month or less or greater than that, but a mix of both is not recommended. If they are focused in this area, this tells you they have invested resources into educating their staff about that specific set of time frames and how the market acts within that situation. That kind of thinking is what you need on your side.
In order to be confident in your choice of a stock option trading service, these things must be in place. Otherwise, you could be considering an unprofessional service, or worse yet, a scam. Trade Genie meets—and surpasses–these qualifications. Grab more info at MyTradeGenie.com.