How to Pick the Perfect Option for Your ProfitSight Alert
First and foremost, welcome to ProfitSight!
By now, you’ve read our onboarding manual…
You’ve chosen your symbols…
You’ve input your dashboard trade settings…
Now you’re ready to start trading!
As your signals start going off, this guide will help you select the right option.
The process is very simple – if you follow these guidelines.
So, let’s begin!
Step #1: Know Your Price Target
For this example, we’ll use a confirmed “M” pattern on Coinbase (COIN).
As you can see below, the “M” pattern triggered and suggested an entry level at $44.28.
![](https://monumenttradersalliance.com/wp-content/uploads/2022/12/table1.png)
The first downside profit target was $43.77 (designated by the yellow line on the COIN chart), followed by a further downside profit target at $43.50 (designated by the red line on the COIN chart).
Based on this trigger pattern, the software was looking for a $0.78 downside move on COIN ($44.28 trigger – $43.50 downside target = $0.78), with possibly even more downside from there.
So, right there, you have the first step. You know your price target from this “M” trigger: $0.78 lower.
Step #2: Know Your Time Frame
Once you know your target, the second step is for you to determine your time frame.
More specifically, this step requires you to determine how long you’ll be around to track and monitor the trade.
For example, do you have a lunch meeting that’ll require an hour or two of your time later this afternoon?
Are you leaving for a vacation the next day that will keep you out of the office for the next week?
Or will you be around for the next day or two – and thus you’ll be able to track the trade?
Your own personal time frame will determine which expiration date you choose.
If you’ll be around, then choose an expiration date one week out.
If you’ll be in and out for the next few days, then choose an expiration date one to two weeks out.
If you’re going to be out of town – or unable to track your trade on a day-to-day basis – then maybe give yourself a full month of time. Or maybe skip the trade altogether and trade the next signal that comes in when you’re able to trade.
The point is, make sure that you’re trading in a way that works for your schedule. Wall Street doesn’t care if you have an afternoon tennis match or a lunch date. The markets move according to their own schedule – and thus you must trade accordingly with what fits into your own personal agenda.
As a basic guideline, always give yourself at least one week of expiration time.
That way, you can account for any “land mines,” as we call them, which are unforeseen news events that could temporarily impact your trade. If you give yourself an extra day or two, you can withstand any unpredictable news events and still be able to come out on the winning side of your trade.
This leads directly into Step #3…
Step #3: Know Your Strike Price
Once you know your price target…
And once you know your time frame…
Step #3 is easy.
We recommend choosing an option that’s as close to “in the money” as possible.
For instance, on the COIN trigger above, the “M” formation went off with the stock trading for $44.28. In this example, the closest “in the money” put option was the December $44.50 puts – but since this is just an example, let’s keep it simple and go with the $45 puts.
(See what the options string looks like below.)
Using the time frame guideline, you could’ve entered the COIN December $45 puts that expire on Friday, December 16.
At the time of the trigger, they traded for around $5.00.
And as the “M” formation played out, they traded up to $5.80.
It was a simple 16% winner in a matter of minutes.
This specific COIN put option is boxed in below.
![](https://monumenttradersalliance.com/wp-content/uploads/2022/12/Table-2.png)
Summary
If you follow these three simple steps, you can best maximize the effectiveness of your ProfitSight software.
- Know Your Price Target: See what sort of move the software is predicting.
- Know Your Time Frame: See how you can best trade the trigger given your own personal agenda – and give yourself at least one week of expiration time to account for any unforeseen land mines.
- Know Your Strike Price: Choose the closest option that’s “in the money.”
Follow these three simple steps, and you should have great success trading the triggers. Of course, as you grow comfortable with this method, you can adjust accordingly. But as a general guideline, this is a beginner’s guide to best utilize the triggers and choose which option to play for any given trigger.
As you know, if you have any further questions, you can feel free to message the Mod Squad – they’re always on standby to assist you LIVE anytime you need a hand. But above all, we hope this quick-start guide will get you off on the right foot.
Yours in smart speculation,
The Monument Traders Alliance Team
P.S. If you want to get more triggers, then you may consider increasing the amount of symbols that your software package scans for. To upgrade, simply call our VIP Service Squad at 888.215.5311 or 410.864.3083 and inquire about the best available upgrade offers.