How much money do I need in my account in order to follow the trading recommendations from Traders Notebook?
Because we are focusing on low risk, low margin trades, we recommend an account size of about $20k. But you can go even lower to begin with if you trade only options or spreads. In this case, an account size of about $10k will do the job.
Can I take the trades on an IRA account?
Yes, you will be able to trade the recommendations using an IRA account.
How many monthly trading recommendations can I find in Traders Notebook?
We can give you only average numbers because it depends on the markets, but you can expect between 4 to 8 new trades per month.
My broker told me that selling options is a very risky business. Is this true?
Trading in general is risky, but there are ways to control the risk. In Traders Notebook, we focus on covered or hedged strategies like Spreads or Iron Condors. This way we always have a defined maximum risk for each trade.
Do I need a specific trading platform if I want to trade the recommendations?
No. You can trade either with a discount broker like Interactive Brokers, or use one of our brokers if you don't have one. Please contact us if you need help, or if you are not sure your current broker is the right choice for this kind of trading.
Spreads seem complicated to trade, and I do not understand the mechanics or the trading ideas behind the trades.
Don't worry, in Traders Notebook we focus on simple strategies. Trading spreads is as simple as it is to trade an outright futures contract like the ES or the Euro FX. All trading ideas are explained in detail, and whenever needed, you can contact Andy.
How often will I receive the Traders Notebook?
Traders Notebook is available for every trading day. In addition, you will be added to Andy's email database to receive updates during the trading day as needed.