You’re now just two steps away from getting the first of many opportunities to score triple-digit gains. And it’s absolutely imperative that you’ve got everything thing you need to place the perfect trade.
Now in Part 4, I showed you why we flip stocks here at the club – and never buy them.
And today, I need to make sure you’ve got your account ready to trade – and collect profits – in two simple steps.
Now you may already have a retirement account, such as an IRA or a 401(k). But what you may not know is that you can trade options in it. If you’d like to use your retirement account to trade options, then all you need to do is simply contact your broker to get it converted for options trading. Then, you’re ready to move on to the next step: getting your options clearance.
But if you don’t already have one or would prefer using a separate account for options trading, here’s what you need to do right now…
Step 1: Choose Your Broker
Step 2: Get Your Options Clearance
Notice that it only takes about five to 10 minutes tops open your account, so you should have your account ready to at least use the simulated trader (or virtual trader) before Trade Day.
And speaking of…
Nowadays, you’ve got a crucial advantage veteran options like me never had when starting out – a virtual trading account.
While virtual trading, or paper trading, doesn’t actually involve real money, it’s the best way to get familiar with options trading and placing orders before you start using real money. There is nothing like putting an order in backwards to kill your ego (my very first trading mistake) – so take advantage of this awesome tool.
Next, in Part 6, I’ll be sending you a “trading” checklist to make sure you’re all set for profits.
In the meantime, here’s your action to take…
I’ll talk to you again soon…
Make sure your account is ready to trade (whether opening a new account or getting clearance to trade options in an existing account). The entire process takes up to two days, so you’ll need to act now if you want to get in on our first trade.
