WEBSITE & MEMBERSHIP FAQ
This is My First Day! Where Do I Start??
First and foremost I want to sincerely thank you for joining our unique OptionsMeister community. You should be commended for your decision to become a “self-directed” investor.
I understand that all the content you are exposed to as you navigate the website can be overwhelming. So take a depth breath and fully understand that your decision to become a trader requires your time and patience. The learning process should be approached as you would a marathon and not a sprint. I want to further assure you that trading is indeed a “learned skill”.
Here is a link for a short video to help you around the OptionsMeister website: http://bit.ly/2tzzT6i
I would suggest you enroll in the course, “An Introduction to Probability Based Trading“. This is a self-paced course that will familiarize you with the concept behind being a Probability Based Trader.
Where Do I Direct Website Specific Questions?
If you need assistance with anything on the website simply click the link “Help & Support” that you can find in the NAVIGATION column on the right side of most pages.
How Long Am I Able to Remain a Bronze Level Member?
You are welcome to remain a Bronze Level Member at OptionsMeister as long as you wish. There is no expiration date. As long as you remain a Bronze Level Member you will receive the OptionsMeister newsletter and have access to all the benefits of a Bronze Level Membership.
Where Do I Find the Resources Included With the Bronze Level Membership?
As a “Bronze” member you have access to a lot of great content which is constantly being added to. The “Resource” page features “icons” that offer convenient access to all available content. OptionsMeister encourages you to upgrade to a Silver or Gold membership. An upgraded membership will give you access to a wealth of great trading related material and resources.
Are Your Monthly Mastermind Calls Recorded?
Yes, all monthly mastermind calls will be recorded and archived. Access to the calls will be in accordance with your membership level.
Can I Access My Membership on Multiple Devices?
Yes, the OptionsMeister website is accessible on desktop computers, laptop computers, tablets and smartphones. OptionsMeister will be developing an app for easier access to IOS and Android based products in the future.
Where Do I Modify Email Address, Password, Contact Information, etc.?
Your “account” page is the “go to” place where you can modify all of your personal information.
SUBSCRIPTION & BILLING FAQ
Where do I find help and/or support for issues that arise ?
Your first stop to find answers to your questions relative to your membership and this site is right here! I encourage you to review all the FAQ’s in this module. We have made a concerted effort to cover everything we could anticipate.
If you cannot find your answer here, then please go to the support tab and send a question to us. We will get back to as soon as possible.
Can I Upgrade or Cancel My Membership Status at Anytime?
Absolutely, there are no long term contractual commitments. All membership levels are month to month. You are free to either upgrade your membership level or cancel at any time (we hope you don’t).
If you chose to cancel your membership (we hope you don’t) your membership will be active until your next billing cycle. There are no “pro-rated” returns of membership fees.
What Method of Payments Do You Accept?
OptionsMeister accepts most common credit cards using Stripe as the processor. OptionsMeister is in the process of adding Paypal as a method of payment. In the interim, if you would like to use Paypal as your payment method, please contact OptionsMeister via the “Support” tab.
How Do I Change My Method of Payment For My Membership Level?
Your payment method can be changed in your “Account” page.
Do I Receive a Refund If I Cancel or Modify My Membership?
OptionsMeister memberships are “month to month”. You may cancel or modify your membership at anytime. As memberships are only one month in duration, terminated memberships continue until their expiration date. For that reason there are no “pro-rated” returns of membership fees.
Where Do I Go On the Website to Find Specific Trading Information?
Aren't Options Too Risky?
This is one of the most common questions that I am asked by traders that are considering trading options. My first response is always the the same, “are they too risky to buy or too risky to sell”? I am not trying to be a smart a__, but many aspiring options traders don’t realize that options can be bought or sold. Yes, contrary to conventional wisdom, you can sell something you don’t own.
Do you have a suggested minimum account size?
Of course you can fund your account with any amount, but federal regulations require a minimum of $2000 in order to be eligible for a Regulation T margin account. A probability based trader typically uses a very small percentage of their account to achieve above average returns. For that reason it is recommended that the account is initially funded with a minimum of $5000.
There are two other benchmark levels of account size that should be noted. To avoid the restrictions of a “pattern day” trader the account minimum is $25,000. To qualify for a portfolio margin account the minimum account size is $125,000.
What do you suggest as a maximum risk per trade?
A new trader should confine their trade strategies to defined risk trades. Initially it is suggested that the maximum risk is approximately $70 per trade. That amount is the total risk on a vertical credit spread, the most common trade for beginning probability based trader.
Do you have one specific "go to" strategy for options trading?
This is a very common question. I always respond in the same manner. If you “put a gun to my head” and told me to pick one single strategy it would be a short strangle. My bias toward the short strangle is because it is a premium selling strategy and consists of just two legs making it easier to manage or adjust.
Strangles of course are “undefined risk” trades and I would not recommend that a new trader use strangles as their core strategy.
Vertical credit spreads are the “go to” strategy for probability based option traders.
I am new to option trading, on which strategies should I focus?
That is an easy one. As a “newbie” option trader you should focus your trade executions on basic, “defined risk” trades. Simply stated those strategies are vertical credit spreads and vertical debit spreads. It is of paramount importance that you spend the first several months of trading on finding, executing and managing vertical spreads.
There are several reasons I would suggest you initially concentrate on vertical spreads:
- Vertical spreads are the foundation of options trading. Most complex strategies are some combination of vertical spreads. It should make sense that if you master these basic trades it will serve you well as you introduce more advanced strategies.
- As a new trader you are bound to make “operator errors”. With vertical spreads you can mitigate losses from platform (technology) errors while you learn.
When Would You Recommend a Trader Consider More Advanced Strategies?
As you progress in your trading knowledge and platform proficiency you will naturally want to “expand your strategy horizon”. OptionsMeister provides an “Options Strategy” module that categorizes all option strategies into Trade Level 1, Trade Level 2 and Trade Level 3 option strategies ranked by risk.
As a member at the “Silver” level or higher you will have access to this resource.