Whether you’re an experienced trader or a newbie just getting started, trading alert services can be helpful. These services monitor the market and send you real-time alerts when they identify a potential trade opportunity that fits your trading style and criteria. Many of them also offer educational materials and watchlist features that can help you improve your trading skills.
Most options trading alert services are web-based platforms that you log into to gain access to their analyses and alerts. Some also have mobile apps that you can use to receive the latest recommendations. They’re a great option for traders who don’t have the time to keep up with the markets every day, but want to remain on top of opportunities.
While not all alert services are created equal, the best option alert service providers have a solid track record of successful trades. They also provide a number of educational materials and a social element that can make them a good choice for newbies to the industry. While these services can be a bit pricey, they can increase your returns and help you become a more successful trader.
The best option alert service, The Trading Analyst, will set you back $787 a year (though there are cheaper quarterly and monthly plans). This is quite a large sum to fork out at once, but it’s one of the most cost-effective services in this category. The service provides anywhere between 2-10 trade alerts each week, targeting gains of 50% to 100%. Its average win size is also higher than its loss size, which is a big selling point.
Other options trading alert services that we recommend include Mindful Trader, which has a great track record and a low risk profile. They issue around 2-3 weekly alerts, and focus on momentum trading to capitalize on short-term price movements. Their educational material is also excellent, and they have an 80-85% success rate.
Another excellent options trading alert service is Sky View Trading, which offers high-speed alerts and fantastic educational materials. It is a good choice for newbies and swing traders who don’t have the time to follow the markets all day. However, it has some drawbacks, including a high price tag and the need for significant capital to hold positions.
Most options trading alert services will keep records of their past trades and performance statistics, although these may be difficult to sift through. Ideally, you should look for a service with a profit factor of 2.05, which means that its profitable trades make about twice as much as the losses it incurs. This is a good indicator of its consistency and reliability, and can help you determine if it’s worth the subscription price. Most services will also display their trading results on their website, so you can check them out before making a decision. However, you should note that trading options is a risky investment, and even the best alert services will not guarantee profits.