- Options Trading Services
- 20 Years of Trading
- How to Choose the BEST Options Strategy
- 2. Cater to different factions of your audience – Multiple Edition Strategy
- 1. Get people in the door with a free plan – Freemium Strategy
- A Trading Community For Beginners And Experienced Traders
- Recommendations and Reviews
Options Trading Services
When it comes to options trading services, and option subscription recommendations, I'm very careful and selective about who and what I recommend. My credibility (and the Great Option Trading Strategy site's credibility) is very important to me.
20 Years of Trading
I've made no secret of my own Leveraged Investing philosophy and approach to investing.
But I realize that using trading stock options as part of a long term investing approach will not appeal to every investor and trader.
I've used a number of options trading services myself in the past.
And when it came to choosing an options service, I always had the same three essential questions.
- Is the person or people operating the service legitimate? By legitimate, I don't mean that a service has to be operated by someone with a specific type of Wall Street resume.
How to Choose the BEST Options Strategy
I don't really need to see another staged photo of yet another big man in a big suit.
But what's absolutely crucial is knowing that the service I'm considering is run by someone I can trust. I've been scammed by services in the past and it's infuriating.
[Seriously - one such trading service I briefly used recommended an Embarq (EQ) call option. The next day the stock opened slightly lower, and continued going lower and lower.
2. Cater to different factions of your audience – Multiple Edition Strategy
I monitored this position closely, both the call option and the underlying stock. At no point was the call position ever in the black!
The trade continued to deteriorate and I ended up taking an approximate 30% loss on the call. And on the options trading service's results tracking page?
The operator had the audacity not only to not claim a loss, but he actually credited himself with a small 7% gain! Now that's what I call a scam.]
Trust is crucial.
- Is the person or people operating the service competent? A service may be legitimate but still not be profitable for its members. Not to be crass, but what good are ethics if I can't make any money?
1. Get people in the door with a free plan – Freemium Strategy
If I'm paying for a product or service, I want to know that it's going to be worth the cost, both in terms of price and my time. Can I consistently make profits? Will I be able to make more money with the product or service than by just doing what I do on my own?
- Will the service make me a better investor or trader? It's like that Japanese proverb.
A Trading Community For Beginners And Experienced Traders
I don't want someone just to give me fish, I want to learn how to fish for myself. I want a service that helps me grow and become a better trader or investor.
And if I ever stop using the options trading service? I want to be able to look back on my time with the service and say, "Hey, that was a very valuable experience.
That was money well spent."
Recommendations and Reviews
Terry Allen - StockOptionSuccess.com
Morningstar - Ratings and Research
Trading Scams - Services to Avoid
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