Auto trading options make selling options seamless
We are happy to be introducing several enhancements to the OptionGenius.com service this month and the first of these enhancements is Auto Trading Options. As the days go on, we will announce 3 major improvements that should make membership much more valuable.
Auto trading options is a great concept where members have the ability to have their broker execute the OptionGenius.com trades for them in their account.
Best of all, there is no extra charge for this service.
What this means for members:
Once we send out an email option trade alert, your broker will automatically enter that order for you in your account. Chances are your order will be filled faster than you could do it yourself. Eoption.com has an auto trade option desk where they have people who just sit and wait for these alerts all day. Once it comes in, they enter the order for you at the price listed in the email alert.
This is great for those who can’t get to the computer as soon as I send out a trade alert. If you have ever missed a trade because the market moved too fast, this service should help solve that problem.
- You will always have full control of your account.
- You can cancel the autotrading at any time.
- OptionGenius.com has no access to your account or your money. We actually have nothing to do with this – it is an agreement between you and your broker.
- If there is a trade that is entered for you that you do not like, you can exit the trade.
- Eoption.com has the lowest commissions we have seen.
- We are not affiliated with Eoption.com in any way. After researching several brokers, they were the easiest to work with.
The only requirement is that you have an account at Eoption.com and an active membership with OptionGenius.com. Currently Eoption.com is the only broker we are autotrading with. If you use another broker and would like us to autotrade with them, please email them and let them know of your desire.
How it works
Once you have an account with Eoption.com, you fill out and sign an Autotrade Agreement. You get to choose how you want OptionGenius trades executed. You can use a percentage of your account for each trade, or you can choose a number of contracts for each trade. What we recommend is that you tell them to use a percentage of recommendation. So for example, since I use $10,000 as my account size and base all the trades on this amount, if you are also trading a $10,000 account and want your account to match mine 100%, then you would instruct them to use 100% of recommendation. If I send out a trade using 10% of the account, it will be the same in your account. If you have an account with $20,000 you can tell them to use 200% of recommendation. That way if I use $2,000 for a trade, you will be using $4,000 for the same trade.
Many of you have been asking for autotrading for a while. I want you to know that I have thoroughly tested Eoption.com and their order fulfillment capabilities. I opened a real money account with them and for two months had them autotrade that account. They did a wonderful job getting the trades executed. I do not forsee any problems, but if there are we will quickly address them.
Option Trading Automation
Keep in mind that this is between you and the broker and things can go wrong. It is your money and you should be watching it like a hawk. Just because this service makes it easier to follow OptionGenius does not mean you have any less responsibility in managing your money. Also, there is no guarantee that all trades will be executed.