1. How long does it take to start making money?
With our 21 Day to Success Program, our goal is to have trading live starting in week 4.

2. What times can I trade?
We call the Trades from 10:00AM AEST until the close of the Australian market 4pm.

3. Can anyone be successful?
Yes, we have taught young school leavers as well as retired great-grandmothers. The course is designed to take a novice right through to becoming trader.

4. How long does it take to finish the E-course (training)?
You can do the e-course in 4 to 5 hours. It is recommended to do the e-course a minimum of 3 times to become familiar with the technical language and the signal set ups.

5. Can I trade from overseas?
Yes. You will receive the SMS trade alert and simply call us and we will place the trade for you. It is that simple.

6. How much money is recommended to open a trading account?
10K AUD.

7. Do I need a new computer?
No, as long as you have an Intel chipset (centrino or duo core) your computer will be satisfactory.

8. Do I need to be an expert on a computer?
No, if you can surf the net then you can learn to trade.

9. What kind of internet connection do I need?
ADSL, ADSL 2, cable or wireless broadband or satellite.

10. How much download per month?
Very little, you are not glued to the computer screen all day.

11. How many trades can I expect per month?
That depends on your risk profile and you trading capital. Feel free to view our guide on the Advisory tab, this will give you a good understanding of what you can expect to make month after month.

12. Who do I speak to if I have Questions?
You have many avenues to get your questions answered.
1300 member support during trading hours.
Email Support.
Attend the weekly online interactive coaching sessions.

13. How often is the e-course updated and how will i know, is it free, how long do I have access to it?
We update the e-course whenever it is needed. When we do update it you will notified via email.
Yes the updates are free.
You have lifetime Membership and lifetime access to the online classrooms.

14. I’ve heard trading in these current markets is risky?
Investing like in shares at the moment is extremely risky as the only way to profit is for the value of the share to go up and as you know the market can go in either direction. What we do is vastly different as we trade the market and DO NOT invest in the stock market. By trading the market it gives us the opportunity to trade the market when it is gaining value as well as trading the market when it is losing value. So as you can see in these so called risky times it is an excellent time to trade as we can potentially take advantage of the market in any condition. But as always there is a risk in any financial market and you should only be trading capital you can afford to lose.

15. Are there any further costs the training i.e. more modules to purchase, advanced strategy courses?
No. The course covers all from beginner through to intermediate and advanced strategies and training.

16. Does the system run on Mac’s??
It can but it is not advisable to use Mac’s.

17. If it’s that easy why isn’t everyone doing it?
The strategy is simple. Most people never seek out change. To change is to make decisions, the majority of people are fearful due to the lack of education and feel uncomfortable. Motivation and desire to change are necessary to become a profitable long term trader.

18. What happens after 12 months – where do your trades come from?
Whilst you continue to use Elite/Halifax as your broker the trade recommendations will continue.

19. Would Andrew be our mentor – if not who?
Andrew and Les Noon will be your Options Mentors.

20. Would our “mentor” also be able to review other proposed trades – ie so that we could better develop the ability to build trades ourselves?
Yes. We hold 10 minute webinars every weekday morning at 9.30am AEST. These are of trades that may occur in the market that day. Should they confirm you will receive an SMS alert. On Monday evenings at 7.30pm - 8.30pm AEST we also hold a webinar in which he gives his insight into longer term views of the market. Tuesday evening at 7.30pm - 8.30pm we hold a webinar in which covers a Q&A session and discusses the trades of the week how the profitable trades are going and the non-profitable trades are fairing and as to why. We only provide general advice please refer to the full disclaimer below.

21. Would we be able to either use the platform to put trades – or the phone (say after 2 months)?
Yes, if you wish. Placing Options trades on a platform can be tricky if you are unfamiliar with the process. It is not recommended as if you make a mistake it can cost you heavily. If you are confident and well practised then by all means.

22. Do you have any recommendations for setting up the account structures to minimize tax?
Only your accountant and yourself know your financial position and as such your accountant should be consulted for advice on such issues.

23. Is this course tax deductible?
You will need to consult your accountant.

24. What if for some reason you don’t bond with your mentor?
Call the brokerage before enrolling and introduce yourself before investing with us. 0755 854200

25. Is it possible to sign up for “Your cashflow weekly” options advisory services without becoming a member?
No. the purpose of the course is to educate our trades on the what, why and how of the Options trades we undertake. Our approach is significantly different to that of other brokers as we wish to empower our traders and not keep them in the “dark”.

26. How long do I have to place a trade after the SMS is sent?
Generally most people call in within the hour. However we are still able to put people into the trades until the market closes at 4pm.

Note: Price can move if you wait until the end of day affecting the potential outcome.

27. Is there an ongoing fee for the SMS trade recommendations?
No. It is included in the course package.

28: Is there a monthly live data fee for Options trading?
No. We don’t charge fees for data when trading shares or options.

29: Does one have to own the shares first??
In order to do the covered call strategy you need shares that have options to trade over them.

30: Are there any transaction fees with the account?
There is brokerage per trade to be paid plus GST as well as the Option clearing house fee. Brokerage is $65 or 1% whichever is highest. The OCH fee is $1.02 per contract.

31: Do we have to call immediately after receiving sms or any time of the day?
Normally we see an opportunity that should last a few hours, however that can change during the day.

32: If one contract in the US market is only 100 shares, how many shares make up one contract in the AUS market?
In Australia each option contract is worth 1000 shares, unless there has been a capital adjustment for the company and then it may increase to compensate

33: Is Halifax a market maker?
No. Our preferred broker Halifax Investment Services are not market makers.

34: What sort of starting bank are you suggesting?
For covered calls you have to buy 1000 shares, so that means you need at least $3000 for Lihir Gold to $47000 for Rio Tinto. It is up to you. For spread trading you need about $10,000

35: Are there any ongoing fees e.g. sms fees etc?
There are no ongoing fees after you have become a an Elite member. If you trade shares and options you will pay brokerage on those trades.

36: How much is 10 contracts worth?
It depends on how much the option is worth. For example if the option is worth 50 cents then 10 contracts would cost $5000. However the margin required would the spread less the credit paid.

37: Do you have an 'auto trade' facility, where the trades automatically get copied to my trading account?
No. We do not offer the auto trade facility.

38: Is there any other ongoing fees to get SMS recommendations the second year?
No. As long as you have a funded account with Halifax you will continue to receive SMS notification.

39: When do we know when to exit the trade ?
All client trades’ are monitored by their nominated broker at Halifax Investment Services all times. If anything needs to be done about an existing trade they will be in contact with you immediately via an SMS alert and a phone call.

40: Can you write covered calls with CFD’s instead of owning the full shares, that would increase the leverage ?
You would need to provide collateral for the options as the CFD and Option accounts are not connected.

41: Since potential reward is lower than potential risk with your credit spread, 13/37 for example, do you send a stop-loss SMS as well?
We often send an SMS but generally call to exit a trade. With credit spreads there is effectively a stop loss built into the trade. This is why in a volatile market credit spreads are so appealing.

42: All of this is viable if you succeed more than fail when choosing shares going in the correct direction, so what is the selection strategy is this all done by you??
The strategies are produced by our team of traders. We have very experienced advisors who specialise in these types of trades. They do the trade selection.

43: Can the option be exercised before July end?
Options can be exercised at any time by the buyer of the option. However it is extremely rare to be exercised early unless there is a dividend to be paid. We are aware these risks and avoid the trades with problems like this.

44: How can you buy back the call option if it is in the money and the holder decides to exercise?
If you are exercised you cannot buy back the option. You are obliged to deliver the stock. If you do not have stock to deliver you need to buy it on the market to fulfil the obligation.

45: What is the time span of your analysis?
Covered Calls are usually for a period of 1 to 3 months, depending on the stock. Credit Spreads are for a maximum of 4 weeks.

46: Is there CGT?
A: Capital Gains Tax is paid when you make a profit on share trading. Income tax is payable when you make a profit on Option trading. However you need to discuss this with a qualified tax advisor to confirm this comment.

47: What other systems do you offer apart from selling credit spreads ?
We have 11 trading strategies that we employ regularly, however we can trade in any situation.

48: Is it a one off fee or a yearly fee?
The options course is a one-off fee

49: On a 10k investment what would be the average income ?
There is no way we can forecast an average return on trading

50: Do you provide the trading loans or is this through a third party?
Halifax does not provide any financing to trade.

51: $85 per option contract means $850 for 10 option contracts? is $1700 round trip if required ??
No the brokerage is charged at a flat fee of $85, however if your trade is higher than $8500 you will be charged 1% brokerage.
Note: For all Elite Traders members we are now offering discounted brokerage for at $65 per trade.

52: How many of the 11 strategies can be applied from a SMSF (super fund) ?
It would depend on each individual Super Funds investment mandate, restrictions and risk profile.

53: What’s your max potential loss?
For Spread Trading it is the difference between the 2 options minus the credit received multiplied by the number of contracts.

54: Are there any credit risks? or are settlements guaranteed by exchange?
The Australian Stock Exchange guarantees all option trades by taking the counterparty position on options. Therefore there is no risk of default when trading options.

55: Can you sell a Put?
Yes you can provided you have the full amount of the exposure in your account.

56: When you sell an Option - do you need a buyer ie what happens if no-one wants to buy - do you lose?
No. The Australian Option Market uses Market makers who are obliged to quote a price for Options.

57: Difficult question, but on average if you had $10K-$15K in your trading account what would you expect the average monthly income to be?
We don’t provide forecasts for trading returns.

58: To buy the 10 Contracts on the spread what account balance to we need to have.
The margin required will depend on the type of spread traded. If the spread is for 50 cents then for 10 contracts you would need $5000. However the credit paid for selling the spread reduces the margin required ie if the credit paid was $0.18 then on a $0.50 spread the margin per share required would be $0.32. Then for a 10 contract trade the margin would be $3200. It is recommended to have an account balance of around $10K if you choose to trade with 10 contracts.

59: Do you think that a second wave of crisis is coming up ?
There is a large amount of uncertainty surrounding financial markets at the moment. It is difficult to know exactly how the market will respond. The outlook is not certain.

60: Question regarding account with Halifax, is the account segregated?  and when are account statements issued?
Your account is segregated when you trade shares and options. Your statement is delivered via email and for options it is delivered every month.