Do I need to know much about options to use WiseReport?
If you choose to auto-trade the WiseReport information, you don’t actually need any knowledge about options. But if you choose to act on the recommendations yourself, we recommend that you attend at least a basic options course like our Options Base Camp.
What if I want to learn more about options?
Options21 conducts extensive education seminars, ranging from free presentations over 4 hour courses, to our 3 month mentoring program. For more information please visit our education page.
Who is WiseReport suitable for?
WiseReport is a service designed for any level trader. The newsletters are produced as pdf files and emailed to subscribers. If you have the knowledge and ability to implement and manage a trade, you can act on the information yourself and at your own discretion, or if you are totally inexperienced you can give OptionsXpress the authorisation to act on the information provided by this service.
What time frame do you select and what markets do you trade?
The average trade is in play for 41 days. Approximately 60 days to expiration is often chosen. We trade US options markets only.
Do you need trending markets for the trades to work?
Our trades will work whatever the markets are doing, whether they are going up, down or sideways.
Do I need OptionVue software for this?
No, the WiseReport service is a stand alone product. However, trading is about becoming independent, so we do recommend OptionVue 6 as the best options analysis software we could give you access to. If you want to become a professional trader you need professional level tools. OptionVue 6 is the answer. You can trial it free today.
What markets do you cover?
We restrict the WiseReport trades to US market trades, due to the excellent liquidity and choice of trades. ASX options don’t offer the same liquidity and choices.
What kind of support do I have?
If you have any queries or questions, please don’t hesitate to contact us via email (paul@options21.com). But please note, that we are NOT permitted by law to answer any questions that relate to an individual’s trading strategies or personal circumstances, and that we do not provide specific investment advice.
Why am I not receiving the trades as promised in the trial?
Trades are delivered as a pdf file attached to an email. Please check your spam folder or make sure you add “autotrade@options21.com” to your list of trusted email addresses.
Can I use you as a broker?
No. Options21 and its WiseReport service are licensed to provide you with General Securities Advice, and is not a broker for any financial trading instrument. We can recommend a number of brokers and dealers though, that will fit the level of service you require. Options21 and WiseReport receive no financial benefit from recommending any service provider.
How much do I need to start trading with?
This is dependent upon your individual circumstances and objectives. You should never risk capital, that if lost will affect your lifestyle. We recommend that you seek advice from a licensed planner or advisor before undertaking any trading activity. Your minimum required account size may also depend on your broker, but optionsXpress require no account minimums. They also have a free virtual trading platform which will allow you to trade in real time, log trades and record your performance.
What if I need more information on Auto-Trade?
For a complete online explanation on everything to do with auto-trading, signing up and specifying settings, the optionsXpress Australia website at http://www.optionsxpress.com.au contains a comprehensive “FAQ” section. We recommend that you thoroughly explore the topics under “Xecute (auto-trading)” and “Xecute Settings”.