Autotrading is a relatively new feature at most brokerages that allows an investor’s trading account to mirror that of a professional.
OptionGenius.com, an option trading advisory service, just launched their autotrade feature this week in conjunction with TradeMonster.com, a registered broker/dealer, to be able to offer autotrading to their members. Through autotrading, members of the OptionGenius.com advisory that have a brokerage account at TradeMonster.com can opt to have the OptionGenius.com trades executed in their TradeMonster.com account automatically.
“Normally we email trades to members and they have to log into their brokerage accounts and try to execute their own orders. But if the member does not have time to trade when the trade alert is issued or is not near a computer, the member may miss the trade. This is no longer a problem because the broker will execute the trade for the member as soon as they get the trade alert from us,” says Allen Sama, Head Trader at OptionGenius.com.
The individual investor keeps total control of his money. At no time does the trading advisory have access to his funds or account. Autotrading is an agreement between the trader and the brokerage company.
In the case of OptionGenius, members of this service would notify TradeMonster.com that they wish to autotrade with OptionGenius. Once the trading account is updated, every time a trade alert is issued by OptionGenius, TradeMonster.com will attempt to execute the trade for the member in their trading account. The member can then login and change the trade at any time. Members also choose how much to invest in each trade.
As with all trading, there are risks individual investors need to be aware of. The trade may not get executed. If the limit price in the trade alert is not attainable the trade will expire without getting filled. Also, the trade may lose money.
“Autotrading gives the average person, who works full time and cannot trade during the day, the ability to take advantage of trading options and learn at the same time. Our members are not required to use this feature and there is no extra charge for it,” says Sama.
About Option Genius LLC
Option Genius LLC aims to help individual investors earn above-average returns by using conservative option trading strategies and proper money management. Monthly returns of 8-10% are common.
Web Site: http://www.optiongenius.com
Tagged with: Business • Common stock • Companies • Equity Investing • Industry • Investing • Investment Research • Investor • Markets • Mutual Funds • Option Genius • Option Trading • options • Options strategies • P/E ratio • Preferred stock • Stock market • Stock Picks • Stock trader • Trade • trademonster
Filed under: Business
Like this post? Subscribe to my RSS feed and get loads more!