While I know there's a lot of 'pay' sites for stock picks, i'm always cautious since I know there's a lot of shady people out there... i've noticed some sites offering free stock picks, anyone have any experience with them? such as: http://automatedtradingmodels.com/ or http://www.stocknod.com/free-stock-picks.aspx Thanks
I gave one my email address and now my computer is overloaded with junk mail. Be careful. No picks ever came.
That's why I prefer not to give out my address, better than giving out my credit card! LOL There are some that do offer just viewing the picks and no emails and I know some guys on twitter talk about stock picks as well... just curious if someone found a reputable site
You might try this one. http://www.barchart.com/stocks/signals/top100 Can't guarantee that it will work. They have worst picks as well.
I love these types of web-snakes, oh I meant web-sites: 1. There is usually never a Profit and Loss curve. They typically just show the net gain or loss per trade. Can't let the Muppets see the possible drawdowns. 2. There is usually not a plot of the capital usage or any mention of how much money is to be allocated per trade. This is done so they can just add up the individual trade returns and act as though that is the return you will get. Hint: it doesn't work that way in real-life ... you can't put your entire account balance into each trade and have multiple trades open at the same time. 3. They never account for trading fees or slippage. Hey, I thought trading was free and if the chart shows the price then I could surely have bought or sold it at that price! 4. There is never any indication of who runs or operates the web-site ... it is usually "successful traders" or some other supposed "experienced" market gurus. 5. They seem to disappear and reappear about every 6 months with some new fantastic money making system. Unfortunately, lots of people fall victim to these snakes but as they say "There's a sucker born every minute and two to take his money." For some realistic information on trading systems take a look at Futures Truth, Attain Capital or Striker. They track and/or offer real-trading systems to their clients. I have never used them but I often check their web-sites to see what kinds of systems are actually doing well. Another source is Collective2 which has a fair number of stock trading systems. I would consider putting some money into a managed account if I could actually find a system that returns >10% a year with smal drawdowns. Alas, I have never come across such a system in my many years of trading.