Hi everyone- Just wanted to introduce myself. My name is Chris Mercer from Tradesight.com. We are now sponsporing the Education forums on Elite Trader and are very happy to be here. If I can answer any questions about our service, please ask them here or e-mail chris@tradesight.com. Just a quick overview of our company...we provide education and trading calls in stocks, forex, futures, etfs, and options. We have been around for about six years and we have four analysts in various capacities. Thanks
May I suggest you get your primary services audited? Timertrac.com, Collective2.com, theta research, timerdigest and others do this. It would make you a heck of a lot more credible than just talking...
While I think that audited tracking can be useful if we were just swing trading ETFs or even casual traders of stocks, I'm not really sure how it would have much validity for active day trading. For example, we give our stock subscribers anywhere from 4-20 daily chart triggers with entry triggers and stops ahead of each session. We also give additional guidance on those plays in our real-time Tradesight Messenger, which some people might use and others might not. We also give more active trading calls throughout the day in our Trading Lab, much of which is based on Demark counts and other technical indicators. I've seen a lot of "audited" results that traders can never seem to replicate, and the problem is that the analyst is too busy saying his entry and exit points instead of teaching people how to trade, what counts as a valid entry, how market direction should factor into your trade size on the play, and how to learn to manage trades with a tight stop loss strategy that lets winning trades run (at least a piece of the trade). Our main purpose is to teach people what counts as valid entry points and then to teach them the all-important tools for trade management. That doesn't work if you approach the market with a 1-in, 1-out strategy. We do that with our own trades as well as any trade idea that a subscriber asks about in the room. Our free trial currently allows for a week in our Trading Lab if someone asks for it, which is something that we don't typically do. There, I think people would get a much clearer perspective on what we do than any other way.
To give you an example from yesterday (Wednesday), our calls coming into the day included SGMS long over 19.33 and BAC short under 23.60. The market gapped down Wednesday morning and headed up to fill the gaps. SGMS triggered long right as the S&P was about to fill the gap, which means there is a good chance that the market will stall out at that area. In addition, we recommended a tighter stop than our stated $0.25 original stop due to the timing of the trigger. Therefore, in our Trading Lab, we explained that less size should be used on the play because the market direction was uncertain at that point. Sure enough, the market rolled over, and SGMS only went about $0.17 in the money before rolling over, which I would consider not enough. Then, a little later, with the market direction clearly heading down to lows, BAC triggered short under $23.60. We recommended this for more size because of the clear market support at the time, and the trade triggered (options used in this case) and went from $23.60 to $21.60 at the close with no movement against the $23.60 trigger. So while the two trades were called equally on paper in advance, the specifics of analyzing the market and adjusting your size and stops a little helped keep the loser smaller than it needed to be, while the other trade worked great.
You use a lot of words to explain why you are avoiding the concept of independent proof. I usually find vendors are squeamish at the idea, because they know their stuff doesn't work, like 99% of the other services who rely on "trust us and send in a check, dolt." Next, you will be pointing to a lengthy list of faked testimonials, which as useless as everything else they say. Sorry I asked and thanks for confirming that you are peddling snake oil. Warning to the wise...
Well, gee, let's see. You can take a trial for free and even come into our Lab for free, or you can just be a hater who has no idea what we do. Come into the room for a week and I'll put our trading up against yours in real time. Better than an audit. I'm assuming you have a competing service or else you'd be doing your own due diligence instead of trying to scare people off without facts.
Chris, welcome to ET and good luck. I hope you knew what you were getting into when you became a sponsor. This is a tough place for educational service vendors. I hope you have thick skin and can remain professional while you get raked over the coals. Many have come before you and many will come after you depart. I hope your expectations for a ROI are very low. Again good luck and don't let the critics get you down.
Thanks for the comment. I appreciate it. I've been trading for 17 years, so I've pretty much seen all of the junk. A lot of times, the trolls on the boards are pretty transparent since they don't take the time to educate themselves before they speak. ;-)
WOW - A FREE WEEK'S TRIAL - THAT IS MUCH BETTER THAN AUDITED RESULTS!!!!! 99% of these services are snake oil. You have not covered yourself in glory showing why you are different.