Hey all, If anyone is interested, I would like to get into a discussion of what the *maximum* is that you would be willing to pay on an annual basis for a trading subscriptions service which offers the following: 1. monthly state of the markets report sp500, gold and silver with charts projections and analysis of bull or bear trend. Plus as needed inter month analysis of the tape of sp500 gold and silver and mining shares. 2. fibonacci pattern scans on 1000 ETFs, stock market indices, all nasdaq and NYSE stocks, sp500 stocks, and then results or best charts shared with subscribers on a rolling basis (in between months as warranted) Fibonacci pattern scans for bull/bear setups of Gartley patterns, Butterfly patterns, AB=CD patterns, Bat, and Crab patterns. 3. cup with handle pattern scans on 7000 stocks 4. occasional video reports going over the patterns, market index analysis and gold and silver or individual stocks. There are so many trading subscription sites out there now and some of the prices I have seen almost seem absurd. I have seen $99 per month from some sites and $157 per month to $200 per month on others. but most seem to be in the 30 per month to 50 per month range which would equate to about 400 to 600 per year... thoughts ? Please take the poll and tell me the max you would pay on an annual basis.
At one point, I paid $45/month for a service that had positive expectancy. Given that, I don't think I'd pay any more than that. That said, if a service provides guarantees of certain minimum profits per month, then I suppose the price I'd pay would reflect that guarantee. If you are analyzing multiple markets, you ought to be able to extract some profits from at least one and those profits should be sufficient to cover your losses in other markets. Personally, if I offered a service, I'd guarantee at least the equivalent of $1000/month in profit over three markets combined (ES, Euro and Crude). Some months all of that profit might come from one of those three or all three or whatever combo added up to $1K/month, if the subscriber traded 1 contract per trade. I'd charge $200/month to equate to the 20% of profits that hedge fund managers get. If you don't take the trades, it's your problem. If you traded more than 1 contract and make more than $1K, it's a bargain. That's how I'd signal that my interests and my subscribers' interests are aligned.
It all depends what the service claims and if it has a documented track record. I wouldn't pay for the service you mentioned, as I'm not into Fib/Gartley stuff and you can get chart/tape analysis from many sources if you can't do it yourself. Personally, I'd want to see a real-time, audited track record that beats the market on a risk-adjusted basis. A good and realistic backtest would be a plus, too. But that's just me. I have no interest in more subjective services that just give you "tools and ideas" or "starting points to make your own trades."
Absolutely ZERO. The value added is so minimal. Copy/paste fundamental stuff, then just guesswork and the ol' "IF this happens, it's bullish...if this, bearish" but that means nothing the next night when things change. People have said this before, "Why spend your time SELLING stuff when you can be trading and making money?" OH, you like dealing with subscribers complain and spend time teaching real basic stuff? no, nobody does...they want and NEED money. There is below average stuff for free you can find. If you need a friend that bad, go make one...don't try to buy one why pay for a scan... tons of FREE scan stuff out there as well. http://www.stockfetcher.com/
When I first got started trading, I bought a few services in the $700 a year range. All of them came out ahead that year (2010) and I learned a great deal from one of them, which came with a DVD training course. I'm thinking about renewing one of them at $100/mo. I also found a couple others in the $50/mo range that were OK. The only bad service I had was a certain well known technical analysis based daily update. Talk about stubborn top calling, and getting impaled. Perma bears, armed with analysis tools, are very dangerous........
I was visiting a trading buddy at Tudor and I found copies of Prechter's monthly black book all over the place. I was shocked how gullible people can be, even those at the top of the food chain.