Trc, why not come out and just say that you want to pitch a service. What's the point in discussing this in the 3rd person. No one is going to pay you for fib signals. The truth is, 99% of the investing or trading public for that matter would be better off being long broad market ETF's and fixed income. They don't need to "catch" big trades. You know who the rich guys are on this site? It's not the 20 something traders with fib levels, it's the 55 year olds with vested 401ks who have been long risk assets passively the last 30 years.
There is nothing wrong with buy and hold or dollar cost averaging... certainly that worked better during the last 30 instead of the last 10. but there is nothing wrong with trading either.... there are commercials every day from the brokers pitching to people to sign up with them to a trading account.. they are even talking about using MACD in some of those commercials... thanks for the feedback everyone.. but I must admit I am a bit surprised that almost every single post has been strongly against this whole subscription newsletter thing...
gartman must be an et member cause he sure sounds like a 2 bit phoney. goes on cnbc and claims he's long from the LOWS last week in gold and stocks.
He is simply doing what you do, call trades out a week after the fact. You're right, maybe he is a member of ET!
The guys that can make something like this work have little or no real incentive to do it. There is no reliable source of supply hence there is no business model to be structured. Unless of course a guy can make some coin on superb promotion that is at its heart dishonest (the claims are always phoney), take the quick buck and play regulatory roulette. The regulators miss most small scams.
That's not true entirely. Ned Davis was one of the pioneers in the space. Has been around for decades. Very highly respected. http://www.ritholtz.com/blog/2013/04/interview-ned-davis/ The problem is, most of the good ones are damn near dead now. They came into this business back when there was more integrity. Now days you are mostly right. Of course the market is saturated with them now when back in the 70's and 80's there were very few of them out there. But the model can work and Davis is proof of that. But that era is long gone.
I know a chatroom where you make 100 ES point a year per contract, unfortunaly subtracting commissions its only 50-75 points or so. Commissions are really huge in most trading systems. it only costs 50 a month. I think its value for money. so its 1 ES per month for 5 ES point a month, a 400% return! Or 1 ES for 50 ES if you trade 10 cars, a 4000% ROI!
100 points a week and you've got something. A year, doesn't get an lamer than that, not even a good lie.