Trademonster paper trade review
These result in many a "DOH! Many traders will remark about how much their trading education cost them, literally Have a look at the OptionsMONSTER software - it runs inside a browser window - ignore the side panels and just concentrate on the centre, it is quite intimidating to look at first-off, but actually relatively simple and well-laid-out once your eyes have been exposed to it for a while; try the following -. This all looks pretty good and it's real market data, - real-time once you open a real account , and a "real" trading platform - so why bother with this "StockWave" rubbish!
For example, a typical stock could have options with 25 strikes available, both calls and puts, both of which can be either bought or sold "long" or "short" - that's possible trades to make for single option combinations, now think of how many there are for 2-leg combinations, 3-legs and 4-legs. Those of you who know some maths and the formulae for combinations will know how big this is as it involves factorials. Among all of these possible trades it is possible that there's a nice little trade to be made, with good win probabilities and decent expected return, and without too much risk - it's just that you will never find it!
StockWave to the rescue StockWave can search automatically for trades for you - it can do so exhaustively , which will get very slow for 3 or more leg combinations, or it can do so using an optimising global search algorithm to find some good candidates. It will output them on a table and you can rank them by payoff and expected return, then review them back on the Trade Creator window - and if you like it, then it is at this point that you go back into CBOE optionsMONSTER to re-create the same trade over there and check it out - note that you need to check things thoroughly now, that the payoff profile looks the same and the breakeven positions agree - note doubly that the initial prices used in the trade searcher MUST agree with those in optionsMONSTER, if they don't you will simply be wasting CPU cycles to calculate garbage!
These three options trading professionals used their extensive experience to help build a powerful trading platform. The online brokerage was launched in and has quickly established itself as a leading operation in large part due to its dedication to always making their services better. With the focus firmly on trading options other products and services are available this broker is well worth considering for any options trader.
It isn't the cheapest broker on the web, unless trading in very high volume, but it does offer certain advantages, for example it has an excellent trading platform. So even though you may not find it to be the least costly there are definitely certain aspects that will draw you in. You can read our comprehensive review of TradeMonster below.
We have looked at the commissions and fees, the trading platform, the research and analysis tools, and the quality of the customer service. There are aspects of Trademonster that should appeal to all options traders. The trading platform is advanced enough to satisfy experienced traders and easy enough to use for beginners.
The fee structure makes trading a little expensive for low volume traders, but excellent value for high volume traders. Unlike with many brokers there's no base fee for trading options at TradeMonster.
The cost per trade is based solely on the number of options involved. The fee structure is graduated depending on how many options you trade per quarter. By contrast, the lack of a base fee and the sliding cost per contract makes trading pretty cheap for those buying and selling in large quantities. TradeMonster doesn't have an annual account fee or on an inactivity fee, but there are a few extra charges. There's nothing particularly unreasonable in their schedule of fees though.
At TradeMonster the trading platform and all the associated tools are web-based, so there's no need to download anything. It's one of the most impressive platforms around and it's very fast and responsive. Beginners will love how easy it is to use and understand everything, while experienced traders will appreciate its more advanced features and the fact that it can be customized to suit personal preferences.
TradeMonster was formed with options traders in mind and this is very apparent. A minor complaint would be that trading can involve having to open a lot of different windows rather than everything being integrated. This can cause a bit of frustration but is by no means a major issue. This opens a much simpler window and allows you to place your orders quickly and easily without any of the bells and whistles.
Spectral Analysis gives you a visual overview of your planned strategies while straegySEEK helps you pick strategies based on criteria you define yourself.