how much will you pay for a trading subscription service

[trc4949]

Quote from logic_man:


So, if you go the $100/year route, your going to have some really small traders as your only likely subscribers. Anyone else will write you off. [/B]

Yes, I saw some case study on that before... this guy was offering Ebook for 19 dollars.. and got ok sales,, but then when raised price to 29 dollars the sales numbers skyrocketed....

it is quite interesting that human psychology believe that just because something has a higher price that it must be better or more value or 'expensive' and therefore they MUST have it.. whereas before it was just an after thought...


So I mostly agree with your point.. but I cannot get into the mind of every customer....

If some broker or more wealthy clientele sees a trading service offered for $100 per year, but then also sees very clearly what is being offered for such a price in a well presented format... then I am not sure they would just ignore it and say it is worthless...

People who have good amount of money also like to be choosy and find high value, and cheap price for things they buy too...

If a wealthy person could buy a new BMW 3 series for $15,000 maybe they would still buy it ?

 

[Bob111]

Quote from trc4949:

thanks for this point. But I don't believe there is any guarantee offered by any investment letter, tv investment show, or mutual fund.... this is a risk business... anything can go wrong at any time...

Are there services that can improve a traders advantage over time? yes sure there are... are they guaranteed to do so? probably not.

well that's true...and that's why i said-that depends on service(and your 'system'...for example-i don't want to play any stocks with news. does it worth to pay for subscription service to filter them out? certainly,if it's improves your results significantly. how much would i pay? depends on how much you are making from this particular system and cost of service. have to be rational price\balance. if you making 10K a year and subscription cost 5K-it's probably not worth it.

 

[BlueTurtle]

first, tell me your real name so i can remember you in the future...

i have a service....one signal every 8 years. 100k per customer.

no guarantee....except that i get their money and keep it.

that is great......for the clown the starts the newsletter.

so you see...even for $100 a year....prove to us you have been making $100 per year.

why not....seems soo easy

i'll wait for the statements.

 

[logic_man]

Quote from trc4949:

thanks for this point. But I don't believe there is any guarantee offered by any investment letter, tv investment show, or mutual fund.... this is a risk business... anything can go wrong at any time...

Are there services that can improve a traders advantage over time? yes sure there are... are they guaranteed to do so? probably not.

It is true there are no guarantees that a service will be profitable. The guarantee is that subscribers won't have to pay if it isn't. It's a slight difference but the result is that the primary thing your subscribers have to worry about is the opportunity cost of taking your recommended trades over either doing nothing or taking other trades.

Again, that's how I would do it and I think that would attract a much bigger fish into your net. If I'm entering a market, I always want to position myself as a premium provider, not a commodity. I'd rather have 10 subscribers paying me $10K/year than 1000 subscribers paying me $100/year.

 

[trc4949]

Quote from BlueTurtle:

first, tell me your real name so i can remember you in the future...

i have a service....one signal every 8 years. 100k per customer.

no guarantee....except that i get their money and keep it.

that is great......for the clown the starts the newsletter.

so you see...even for $100 a year....prove to us you have been making $100 per year.

why not....seems soo easy

i'll wait for the statements.

elliottwave dot com takes in millions of fees per year in subscriptions... where is their guarantee ? where is their value ?

 

[SteveNYC]

Quote from trc4949:

elliottwave dot com takes in millions of fees per year in subscriptions... where is their guarantee ? where is their value ?

http://www.elliottwave.com/

On EWI's Brand-New Service -- Elliott Wave Junctures

"I just had to write in as this one [lesson] on high-probability setups just blew my mind. It gave me an 'aha' moment.

One of those very rare moments where you feel you have just learned something of inestimable value."

— Sunil G., Roseville, CA

I Want 'Aha Moments' That Help Me Spot Trading Opportunities



Nuf said.

 

[logic_man]

Quote from trc4949:

elliottwave dot com takes in millions of fees per year in subscriptions... where is their guarantee ? where is their value ?

I guess I am a little confused by what you actually are proposing. EWI is a scam and their trading advice is atrocious. If you follow it, your account value will eventually go to zero. Is that the caliber of "advice" you envision yourself giving?

If that's what you want to emulate, I think it's going to be pretty difficult because they get subscribers based on Prechter's reputation, so it's basically a cult of personality.

If you want to offer something of value, EWI is absolutely irrelevant to the discussion.

 

[TheGoonior]

Why not offer the service with a trial and let the market dictate what you can charge?
And when I say trial, I don't mean the "2-days" or "1-week" like most stuff. It should be a good amount of time that lets the tester determine the worth AND it shouldn't require you to pony up a credit card or register or anything else. Maybe that means free for 3-6 months. Consider that your business expense for focus-group testing.

 

[trc4949]

Quote from logic_man:

It is true there are no guarantees that a service will be profitable. The guarantee is that subscribers won't have to pay if it isn't. It's a slight difference but the result is that the primary thing your subscribers have to worry about is the opportunity cost of taking your recommended trades over either doing nothing or taking other trades.

Again, that's how I would do it and I think that would attract a much bigger fish into your net. If I'm entering a market, I always want to position myself as a premium provider, not a commodity. I'd rather have 10 subscribers paying me $10K/year than 1000 subscribers paying me $100/year.

from a business point of view wouldn't you want to be at the price that maximizes subscribers at a given subscription rate? I understand about being seen as premium and all.. but there must be a sweet spot on that bell curve of dollar rate versus subscriber numbers....

and honestly from all the trading subscriptions sites i have seen MOST are charging 50 dollar a month... so into the 500 to 600 range per year......

I just do not see any subscription sites pushing the limits of VALUE to subcribers at an attractive annual rate...

I suspect most of them charge 50 a month because most only stick around for a month or two... and then cancel which is a shame..

 

[trc4949]

Is that the caliber of "advice" you envision yourself giving?

Not at all. I want to push the limits of value and that is why I appreciate everyone's feedback in this thread. But I need to know what optimal value is in this type of transaction.

I have a better idea now.

Quote from TheGoonior:

Why not offer the service with a trial and let the market dictate what you can charge?
And when I say trial, I don't mean the "2-days" or "1-week" like most stuff. It should be a good amount of time that lets the tester determine the worth AND it shouldn't require you to pony up a credit card or register or anything else. Maybe that means free for 3-6 months. Consider that your business expense for focus-group testing.

I will offer 30 days free... offering more than that is sort of giving away the whole candy store... or maybe it should be 60 days free? I am not sure.