Has anyone here subscribed to Dan Zanger's service? What I am trying to understand is this: He mails out several suggested trades every week. Roughly how many work? 10%? 30%? 50% Thanks in advance, Andy
Doesn't he provide past performance stats? Also, do his "suggestions" have particular trade management rules and minimum profit targets? Without a solid framework, it's not possible to define the word "work" in relation to his "suggestions". When I was a noob I subscribed to an options service that provided trade suggestions with full details of the reasoning behind the trade, as well as entry price levels, stops, and profit targets. The performance results were published on the site. Everyone could see the results before deciding to subscribe. I also subscribed to stock trade service and they provided trades with specific trade management instructions, and they published the monthly results on their site, years worth of results. Later I subscribed to a free sample of a swing trade service from a different company. They'd provide a weekly trade, explanation of the setup, as well as entry price, stop, and two suggested profit targets. I tracked the results of the trades for nearly a year and of the trades that triggered an entry (not all of them did), a significant majority hit the profit targets. I had concrete proof that this was a reliable service. Even though they all provided a very specific framework for the trades, it's not really possible to know if these services would work for any particular trader because the human factor comes into play. In my case I would pick and choose from among the suggested trades and I would manage them my own way. So once you find out if Zanger provides a track record or a free trial and you discover that you think his service is potentially profitable, the big question is: Are you really, really good at following instructions precisely without question?
NoDoji, Yes, very true. I suppose I should be more precise in asking the question: what percent of the trade setups get stopped out (assuming all trades are executed exactly according to instructions)?
I took the free trial a couple times. There is no track record. He gives you some trade ideas and what you do with them is up to you. I think it's useful to see what kind of setups he takes and the rules he follows. At least you can be sure, from his record, that he knows what he's doing. But I think the stocks themselves are usually the big stocks everyone follows like PCYC, AAPL, GOOG, etc.