Really ? Why I only see advisory services with HYPOTHETICAL track records ? Help me to find one that shows an ACTUAL track record , please
The question "why would anyone sell profitable system" is of course, naive. Several reasons right off the bat (assuming a systems is actually PROFITABLE): 1) Trading is a lonely business. 2) Some people like teaching/helping others 3) Every system has losing days and drawdowns. Subscription revenue helps to balance those times 4) It is money. As said above, why would a few hundred thousand or even a couple million be sneezed at? It is also low-risk revenue, as opposed to being exposed to leveaged holdings.
LOL. If someone is seeing more risk in their trading than in their advisory service, then what the hell are they doing offering trading advice? While there are always exceptions to every rule, a good rule to keep in mind is those that can't, teach. And those that can't trade, start web sites. Or write books. Why? Because there's a sucker born every minute, and it is human nature to look for shortcuts and think that somebody else has the answers. And the more bullshit they sling and the bigger their ego, the more suckers they attract. It has always been so, and always will be. Sorry to say, but people are generally very gullible. And when it comes to trying to find new ways to make money, people get REALLY stupid and check their brains at the door.
I trade about 20% of my trading account with http://www.wickedprofits.com Been with them since 2005 and they had only 1 losing trade in the last 3 years since they only do 1 trade per month. The 1 month when a loss occured was for .02 cents per contract. Great service but again I only invest a small portion (20% or less) of my trading account every month since their strategy of selling credit spreads can wipe you out......but so far no problems.
I dont think a newbie is looking for a shortcut as much as a way to go about this business.as with any proffession someone showed another the way.I will look into" trade the news" I dont think anyone would sneeze at mid 6 figure income and above .Obviously monetyis a factor but not the only one knowing how to do is just as important thats what i meant by not everyone being into the greed thing and teaching a real way to approach this
Hi MargoTrader, I checked your blog, are the daily chart setups the place to start? Or is there another link somewhere in the blog to know where to start.
So, it seems like someone with a moderately profitable advisory service could generate additional income by starting one of these. However, the field seems very unregulated...no need for qualified investors or anything. So, how would one start such an advisory service and make sure that future subscribers can't sue or send your ass to prison after a black swan event or if you get lazy and dont update your calls as fast as you should or you dont have as good system as you thought you did. *do not want to open an advisory service, just curious about legal ramifications and protections behind opening one up*
www.collective2.com My experience was that posting trades on this site was a pain in the ass - so I stopped. trades are either free or paid... some people blow out trading options or futures, other have longer term success. It is probably worth it though for a rank amateur or even experienced folks to see what people do on a site like that. Mind you alot of these trades likely dont consider margin requirement and are being gamed by the authors- be realistic and keep this in mind.
todd,read the book about jesse livermore. It costs nothing if u get it at your library.It will also explain y u lost 50k and how not to.It comes down to not relying on other people to make you money.Ignore all the noise,news,rumors and so called experts.Cramer is a perfect example of how great experts are-not.Being knowledgeable about markets and knowing how to trade are 2 completely different things-again,cramer or ron insana exemplify this-2 market journalists who cant trade for jack. There is no easy money.Dont rely on others to bring your fortunes.
Back in 1996 when I first got on the web, there was a guy who had a banner ad on a chat board that I found. He was a Canadian and was mostly into mining stocks. Now, I have no idea if he's making or losing money for himself or his subscribers. But I just googled his name and his website is still up after all these years. So I'm not endorsing him, I really no nothing about him other than he has staying power. His name is Louis Paquette and here's his site: http://www.emerginggrowthstocks.ca/