Iâm new to stock trading and wanted to pick your brains abit about stock advisory services. About six weeks ago, I opened an account with Ameritrade.com. I deposited 4,500 dollars just to get the feel of how things work. My plan is to put a lot more in if things go well (I sold a rental house and came away with a good profit). I also signed up with a stock advisory service. I donât have the lingo down yet, but Iâve made 8 trades and only held onto them for 2 or 3 days. Every trade I placed was recommended by the service. Each trade gained between 1.5 and 3.5 percent within 1 to 3 days. These results were almost exactly what they had anticipated. I thought these were good profits. Actually, they were a lot better then I expected. I completely understand that I could lose as well. I actually opened the account planning on losing some money while I learned the ropes. But I havenât lost a dime yet (I know its early) and Iâm kicking myself in the butt for not depositing more. I just donât feel comfortable yet. My question is, do you guys use these services? I know there are hundreds of them. If you do, are these results typical? Or is a bad around the corner and its going to just the opposite? Iâm very surprised at how little I know and how well (I think) Iâm doing. Any incite would be appreciated. Thanks in advanceâ¦.
starting out making better than expected money in the markets in your first trades is probably the worst thing.
The "winners" take care of themselves. I'd worry more what to do with the losers. Where do you get out, what percentage loss, percent of capital used, etc, etc.
Raptor- Keep in mind that it's not your winning percentage that will make you money(although that won't hurt lol), it's your money management that will ultimately make or break you. For instance, you're ALREADY lamenting the fact that you didn't wager more...that kind of thinking will screw with your head. Good trading- Don-
I'm making 25%+ of my first trade and now it's haunting me back. It's quite hard to go back to that level and I ended up loosing half of my trade and only able to pull a break-even now. Just be careful of your successful trading.
Easier said than done, but dont get greedy or you'll give it all back in one trade. If you never bet more than xx% of your bank then you'll technically always be in the game to play another day - even after some hits. And if you do actually have an edge that xx% will eventually make you buckets of money. Keep us informed about how you progress. I'm also hunting for and trying out advisory services. Check this out : "Have you heard of Mark Hulbert ? He publishes Hulbert's Newsletter in the US. It's a newsletter that monitors the returns of online advisers. Mark Hulbert says "80% of advisers fail to beat the market." It's therefore remarkable, I'm sure you will agree, that every single online adviser in ....... claims great results !!!"