how much will you pay for a trading subscription service

[trc4949]

Quote from atticus:

Think of the man hours it took for Baron to develop ET. No trading skill needed but countless coding and admin man-hours. Now consider that you really don't need any coding ability, but anyone trading since '94 should not need to market some (sorry) lame fibo site. If you're good there will always been an order of mag more cash in independent trading and/or managing OPM.

I've done some consulting on the side on structuring, but never selling the signals. It's simply not good business. You wouldn't even be considering this if you were profitable.

there are many supposedly great traders who also seem to offer subscription services... why???

Larry Pesavento offers a monthly subscription for $170 a month...

Jake Bernstein offers all kinds of subscriptions

there are plenty more... but why are they doing it ??? they seem to be great traders very very smart... hmmm

 

[Random.Capital]

Quote from trc4949:

...why would it hurt to have a trading ALLY for a full year that sends you keen observations or setups of big patterns which could help you along the way?

For the same reason I wouldn't want to share a foxhole with a civilian.

 

[trc4949]

Quote from atticus:

It's simply not good business.

I disagree. Perhaps I will be proven wrong over time depending on what I learn...

but for now I like to think that there is HUGE value in essentially hiring another trader for a fixed monthly or yearly fee
to notify them when they identify BIG PATTERNS in stocks or ETFS.

big reliable patterns are the real MEAT in this business and can help ANY trader overcome too much draw down and otherwise poor trading performance...

yes they can look for them on their own and spend hours upon hours doing so... but time is money as the old saying goes..

and an extra pair of eyes does not hurt...

I personally would love to pay for a service which sends me big patterns throughout the year right into my email.. all i have to do is subscribe...... and I would not care if they only send me a few patterns a year...

but it does not exist that I know of...

 

[trc4949]

Quote from FreakofNature:

Absolutely Zero!

Name one insanely good trader that makes good trading calls on a daily basis with timely entries stops and exits in a liquid enough market.

They don't exist!!!!!!!!!!!!!

generally I agree..... thats why I think any subscription service should emphasize big patterns, the real meat of this business...

a subscription service offered by a trader whose definite chief aim is to focus on big pattern swing type trades

I think many traders yearly performance could be helped to a large degree if they have a few big patterns in their pocket...

it would also help them diversify their trades and style

 

[Random.Capital]

Quote from trc4949:


but for now I like to think that there is HUGE value in essentially hiring another trader for a fixed monthly or yearly fee

Except what you're talking about here isn't in fact another trader, it's someone writing about trading.

There is a very big difference between the two.

 

[ammo]

Quote from trc4949:

I disagree. Perhaps I will be proven wrong over time depending on what I learn...

but for now I like to think that there is HUGE value in essentially hiring another trader for a fixed monthly or yearly fee
to notify them when they identify BIG PATTERNS in stocks or ETFS.

...

those big patterns,suppose he's right 3 in a row, and you bet big on the next one, he see's something and get s flat or reverses, you don't see it and you lose your shirt,you can't trade with confidence on someone elses eyesight,only a fool would follow,so that's why it's bad business,you would at some point or another be putting people in harms way, unless of course your gs ,jpm, morgan, then it's applauded and you are rewarded with huge bonus'es

 

[trc4949]

Quote from Random.Capital:

Except what you're talking about here isn't in fact another trader, it's someone writing about trading.

There is a very big difference between the two.

So what would you suggest is the best way to attain maximum credibility in offering a trading sub service ?

To have the person running the service actually take all the trades he is writing about or suggesting as good trade setups ? and then to keep a detailed record of P&L over time ?

 

[trc4949]

Quote from ammo:

those big patterns,suppose he's right 3 in a row, and you bet big on the next one, he see's something and get s flat or reverses, you don't see it and you lose your shirt,you can't trade with confidence on someone elses eyesight,only a fool would follow,so that's why it's bad business,you would at some point or another be putting people in harms way, unless of course your gs ,jpm, morgan, then it's applauded and you are rewarded with huge bonus'es

wouldn't this problem be solved with specific stop loss level suggestions ?

if subscribers do not follow the stop loss rules it would be unfortunate, but that would be beyond my control I think..

 

[Random.Capital]

Quote from trc4949:

So what would you suggest is the best way to attain maximum credibility in offering a trading sub service ?

To have the person running the service actually take all the trades he is writing about or suggesting as good trade setups ? and then to keep a detailed record of P&L over time ?

For me, I'd have to be convinced the person is actually a trader. And by that I don't mean someone who "trades", I mean someone who's actual livelihood depends on their trading income. Which begs the question of why they need to generat income from what is basically a newsletter, but whatever, that's a separate issue.

It's a non-trivial thing. Honestly, I'd probably have to know you personally, or know someone who knows you personally.

 

[ammo]

Quote from trc4949:

wouldn't this problem be solved with specific stop loss level suggestions ?

if subscribers do not follow the stop loss rules it would be unfortunate, but that would be beyond my control I think..

most solve it with if this, then this ,but if , then this,they are a dime a dozen,if you want to post live trades,losses ,wins,stops,and the when where and whys,then the reader might learn how to fish instead of eat for the day,if you were going to do that,you would learn a lot yourself about your trading,it may take off,i am assuming that your trading is not providing you with a satisfactory level of income, i could be wrong, you could have other reasons, like boredom, or wanting to give back