Is anybody using an advisory service for the QQQ's, nasdaq e-minis or the S&P e-minis that they are happy with? By the way, I would be happy only if the advisory service was profitable far in excess of the cost
Are you looking for the traditional advisory in terms of a "mentor" or are you looking for trading systems/methodologies?
I am looking for an advisory service that provides entry and exit signals via email in real-time, not for daytrading, but for short term trading of 1-5 days (maybe more). Service must have a profitable track record, of course. Some would say that such a service does not exist; however, why wouldn't a profitable trader sell his signals to make even more money with no additional stress and little effort? I know I would.
Why? If you are a profitable trader with good signals, you probably don't have that much stress to begin with.
kernan - thanks for the heads up on the previous post. I may have not made myself clear. Selling signals seems to me to be easy money - wouldn't all of us take as much easy money as we could? I know the hassle of having customers and running another business now enters into the equation, but why not hire a guy to run the advisory business for you if you don't want the hassle.
What are your expectations ? How many signals would you like to get per week, how many points in ES would you be happy with? And finally how much would you be willing to pay for a service which gives you a profit of $500 per week ? Walter
Walter - all good questions. No more than 1 signal per day with average of 2-3 per week. I would be happy to net 5 ES points per week trading one contract. Your last question is the best, because I have discussed this with other traders and I have received a wide range of answers. Some say they will pay very little because they are taking all the risk, others will pay a lot just to be profitable. Personally, I would pay at least $100 a week to make a net profit of $500. I say "at least" since I don't know all of the parameters of the service yet, like how many contracts I would have to trade to make the $500.
Since traderscott asked - Capital Berkeley, LLC provides automated trading systems for the S&P E-mini through monthly lease agreements. Even though using a broad range of systems has produced better results over time, an investor/trader can use as little as one system in their account. One can auto-execute the systems at a qualified broker or take delivery of the software and trade the signals on their own. All systems are 100% mechanical and non-correlated to provide different entry and exit parameters. Check profile for website.