My aim is to have a list of this type of services here on ET. I have included a signal service that I call 'GPS' here for the benefit of all. No one GPS is ever perfect, and I'm sure I'm not the only one who'd like the opportunity to expand my horizons.
What is a futures trading GPS System? It's a tool you as a trader (most often a day trader) use to make sure you're in the right "neighborhood" when making trades. It's not run by a somebody who tells you exactly what trades to make and when, because the only thing you're going to do with something like that is lose. For example: if you're driving on the road and you see the exit you know you're supposed to take right in front of you, but your GPS erroneously tells you to continue to the next stop, YOU SHOULD STILL TAKE THE EXIT! This is equivalent to using a system's trading signals to lightly guide you throughout a trading day, but not relying solely on them.
One guideline I'd like to add to make this list more coherent is use of the following format:
All comments and feedback appreciated.
Here's mine, now show me yours.
YOUR TRADING STYLE:
TOOL:
PROVIDER:
URL:
PROS:
CONS:
----------------------------------------------------------------------------------
MY TRADING STYLE: Day Trader
TOOL: Real-Time Futures Trading Signals
PROVIDER: My Brokerage
URL: http://www.cannontrading.com/education-day-trading-webinar.php
PROS: It's a proprietary system, and the signals have had a good record of being valid - making it a good GPS system for me. The guy who runs it (the brokerage VP) also regularly gets on and provides commentary on the markets, particularly at market open and during times of high volatility. I use it as my right-hand tool when trading, and honestly it actually makes me feel less lonely when trading alone at home.
CONS: It's not available for every contract. It covers the E-mini S&P, Crude Oil, and the Euro Currency extremely well... but I'm not sure whether it supports any others. I would call them to see what your options are.
What is a futures trading GPS System? It's a tool you as a trader (most often a day trader) use to make sure you're in the right "neighborhood" when making trades. It's not run by a somebody who tells you exactly what trades to make and when, because the only thing you're going to do with something like that is lose. For example: if you're driving on the road and you see the exit you know you're supposed to take right in front of you, but your GPS erroneously tells you to continue to the next stop, YOU SHOULD STILL TAKE THE EXIT! This is equivalent to using a system's trading signals to lightly guide you throughout a trading day, but not relying solely on them.
One guideline I'd like to add to make this list more coherent is use of the following format:
All comments and feedback appreciated.
Here's mine, now show me yours.
YOUR TRADING STYLE:
TOOL:
PROVIDER:
URL:
PROS:
CONS:
----------------------------------------------------------------------------------
MY TRADING STYLE: Day Trader
TOOL: Real-Time Futures Trading Signals
PROVIDER: My Brokerage
URL: http://www.cannontrading.com/education-day-trading-webinar.php
PROS: It's a proprietary system, and the signals have had a good record of being valid - making it a good GPS system for me. The guy who runs it (the brokerage VP) also regularly gets on and provides commentary on the markets, particularly at market open and during times of high volatility. I use it as my right-hand tool when trading, and honestly it actually makes me feel less lonely when trading alone at home.
CONS: It's not available for every contract. It covers the E-mini S&P, Crude Oil, and the Euro Currency extremely well... but I'm not sure whether it supports any others. I would call them to see what your options are.
