How much time does VT take?
How much time does it take to use Velocity Trader, and when do I need to pay attention?
VT can take you as little as 10 minutes a week to execute. Here’s how…
- New Trades (Tuesdays) – The new trades get posted to the website around 2 a.m. ET. You can see them on the website and you will also receive an email (and an SMS text alert if you’ve signed up for that, too) by 9 a.m. ET. You will then log in to your online brokerage account and, in less than five minutes, place your two new trades for the week. You may also need to spend a few extra minutes adjusting your limit prices that afternoon in order to get filled. This process is explained in each trade Alert.
- Roll Alerts – Whenever Jim advises you to roll a trade, you’ll want to do so the same day you receive that advice, preferably as soon as possible. Each rolled trade takes 2-3 minutes to execute using your online broker.
- Expiration Days (Fridays) – If you have an open trade that Jim has not yet rolled before the Friday expiration date, be sure to pay attention to the website or email or text on that Friday afternoon starting at 2 p.m. ET. If Jim issues a roll alert on expiration day, you must execute that roll before the market closes or you will be assigned the stock. If you will not be available at that time, you'll want to close your trade early and then roll it on the following Monday, if need be.