FREQUENTLY ASKED QUESTIONS
Q
What kind of financial instruments are tradeable on TradeAlike platform?
A
Currently TradeAlike platform offers ability to send out and receive single-leg options and vertical spreads. As more traders come onboard, platform can be expanded to include other types of trades such as Calendar spreads, Butterfly and Iron condors, Straddles and Strangles etc.
Q
How do I sign-up to become an Alert Sender?
A
If you are interested in becoming an alert sender, please send us an e-mail at info@tradealike.com and we will be in touch.
Q
How will I be notified of a trade?
A
You will receive an instant notification on your mobile with simple and easy to execute instructions.
Q
When do I exit a trade?
A
You have full control of your trade and can come out whenever your goal is met. However, a notification is sent out whenever a trader closes a trade.
Q
How many trades are made each week?
A
As you are given an option to accept or ignore the alert, it is up to you how many alerts you want to trade on. Everyone has different level of risk aversion, access to capital, and trading goals.
Q
Can I get some free credits and try out the app for free?
A
You only get charged for a credit when the trade is closed in profit. However, if you still want to give it a try, leave us a note with your user ID, and we can give you a free credit.
Q
How long is each position held?
A
It really depends on you. Whenever you want to exit a trade, you have the option to do so. The alert sender will send out a notification when they close the trade.
Q
I am new to options trading, can I still understand and place the trades?
A
Options are risky financial instruments that are not for everyone. You should only trade & invest in them after being knowledgeable about these securities. However, the instructions to execute an option trade and the reasoning behind it are all shared via the alert.
Q
Do you offer Auto trading service with any third-party brokers?
A
Auto-trading service for TradeAlike platform is not offered at this time.
Q
Do you trade on your own alerts?
A
Yes, most of the traders trade on their own alerts. However, they are not under any obligation to do so, just like you.
Q
How do I cancel my service?
A
Simply stop purchasing any advance credits, and you have effectively cancelled your service.
Q
Do I get notified if a sender manages a trade?
A
Whenever a sender changes the position size, or provides any commentary, the detailed update is posted under the individual alert and also a notification is sent out. However, it is up to receiver’s discretion to close or manage the trade however they like.
Q
How do I get a refund of the credits that I have purchased?
A
Unfortunately, no refund is given for any advance credits that are purchased.
Q
What is the average contract price that you trade?
A
It all depends on which sender you are following. It it an option trade or a stock trade. Historically speaking, we have seen all kinds of range. The good thing is you will know the range of price in dollar terms before you buy an alert.
Q
How do I get to the TradeAlike platform?
A
Please download the ‘Tradealike’ app from iTunes store (Apple platform) or Google market (Android platform), and follow the prompts to get started.
Q
I signed up, why am I not getting alert notifications?
A
Please allow TradeAlike app to send you notifications via your phone settings.
Q
Can I get an alert on an e-mail?
A
Due to the nature of fast moving markets and the trades made using this platform, it is not appropriate to use e-mail for delivering an alert.