Qualities of the ideal signal service(ES)
- Thread starter esdaytrade
- Start date
I'll be the first to admit, I haven't figured out how to consistently trade and be profitable. I am still learning and trying but it sure would be nice to rely on a "Guru"s calls to make a little money in the meantime while I learn, if ever. For this I would gladly pay money for 5pts per week, I just don't think it exists. Original poster sounds nice and has good ideas but until he does it and proves it he's just a guy typing words on a keyboard. Sorry, not trying to be negative and if you do start a service I will do your free trial.
I think that trying to follow room calls for the purpose of day trading the minis is a waste of time, it never works. Newbies can find value in some rooms that teach but shouldn't spend more than a couple of months in any room learning the purported edge.
In response to the OP, how many ES points did you bank last week? If less than 20 per contract you really have no business making room calls and you are setting yourself up for a lot of headaches and probably trading losses. You have a good thing going don't mess with it.
In response to the OP, how many ES points did you bank last week? If less than 20 per contract you really have no business making room calls and you are setting yourself up for a lot of headaches and probably trading losses. You have a good thing going don't mess with it.
ok, thanks again for everyone that gave their input.
I thought about it over the past 2 months since starting this thread and I have decided to take the next step and see how feasible this idea is. If there is interest, I'm looking for 5 or so people who would like to try and follow my ES trades over instant messenger for a few weeks. PLEASE do this in SIM mode. To follow someones trades who is merely an anonymous poster is beyond silly.
This will be free and we'll just see how it goes for myself in terms of how it affects my own trading and if those that are following can get same entries. I will NOT be doing teaching only alerting you to the exact trades I am taking in my own account. Will be shooting for 5 pts ES per week net after commissions. If that is not enough for you then don't bother and my advice is to get your expectations for this business in check.
those that choose to follow me can post experiences here if they wish.
If you are interested please email me at esdaytrade@gmail.com.
If I can get a few people then maybe we'll start up next Monday the 8th and do this through the end of October.
thanks and happy trading
Rick Dawkins
I thought about it over the past 2 months since starting this thread and I have decided to take the next step and see how feasible this idea is. If there is interest, I'm looking for 5 or so people who would like to try and follow my ES trades over instant messenger for a few weeks. PLEASE do this in SIM mode. To follow someones trades who is merely an anonymous poster is beyond silly.
This will be free and we'll just see how it goes for myself in terms of how it affects my own trading and if those that are following can get same entries. I will NOT be doing teaching only alerting you to the exact trades I am taking in my own account. Will be shooting for 5 pts ES per week net after commissions. If that is not enough for you then don't bother and my advice is to get your expectations for this business in check.
those that choose to follow me can post experiences here if they wish.
If you are interested please email me at esdaytrade@gmail.com.
If I can get a few people then maybe we'll start up next Monday the 8th and do this through the end of October.
thanks and happy trading
Rick Dawkins
I don't think you should spent the time on this project because the long term business model is flawed.
In order to sustain this project, that is, get revenue, you'll need to advertise extensively and maintain a damn good track record. Many others have entered this field and failed. And retail money moves in and out of the next good story like institutions in hedge funds. At your peak, you'll be lucky to have 75 subscribers. then people will drop out, blow out their accounts, go on their own etc., etc.
One of the better sites, swingtrades.com, just closed their futures room for lack of interest. Millenium traders is holding on by a thread.
Then there is the headache factor: dealing with people who don't get fills, complain about the calls, etc. A better plan is to charge $5-7K for a totally bundled program that include teaching and access to your trading room forever. And whatever you do, don't take credit cards. Disgruntled customers can call the issuer and say you didn't deliver the goods or misrepresented the service and a charge back will be on its way to you pronto.
Due some more due diligence before spending any money on this project.
In order to sustain this project, that is, get revenue, you'll need to advertise extensively and maintain a damn good track record. Many others have entered this field and failed. And retail money moves in and out of the next good story like institutions in hedge funds. At your peak, you'll be lucky to have 75 subscribers. then people will drop out, blow out their accounts, go on their own etc., etc.
One of the better sites, swingtrades.com, just closed their futures room for lack of interest. Millenium traders is holding on by a thread.
Then there is the headache factor: dealing with people who don't get fills, complain about the calls, etc. A better plan is to charge $5-7K for a totally bundled program that include teaching and access to your trading room forever. And whatever you do, don't take credit cards. Disgruntled customers can call the issuer and say you didn't deliver the goods or misrepresented the service and a charge back will be on its way to you pronto.
Due some more due diligence before spending any money on this project.
thanks for your thoughts. They are many of the same concerns I have. If this happens, I don't envision it being a huge mass marketed website. IMO, the reason those sites do so much advertising is because their service is lacking in results and people are constantly leaving. This would be capped at 25 people and my goal would be on honest results only recorded when price pierces level and money back guarantee if results don't make $$. My hope is that this would result in people staying on and not jumping to next service, guru, or system on the merry-go-round of failure that is known all too well.
only in test phase now to see how it goes for a few people (and myself) following through end of October and then I'll make a decision about moving forward with it.
I have received 2 emails so far and looking for a few more people to do free test run with me so email if interested at esdaytrade@gmail.com.
thanks and happy trading
only in test phase now to see how it goes for a few people (and myself) following through end of October and then I'll make a decision about moving forward with it.
I have received 2 emails so far and looking for a few more people to do free test run with me so email if interested at esdaytrade@gmail.com.
thanks and happy trading
Here is an idea:
Make your calls in the Index futures chatroom here on ET. The conversation is blogged and recorded, so everyone can look it up your calls with timestamps on them.
One week trial run should be enough. Personally I would expect you to do at least 3 ES per day per contract, holding the longer the better and trades less the better.
Good luck...
Make your calls in the Index futures chatroom here on ET. The conversation is blogged and recorded, so everyone can look it up your calls with timestamps on them.
One week trial run should be enough. Personally I would expect you to do at least 3 ES per day per contract, holding the longer the better and trades less the better.
Good luck...
OR you could just hire a spammer like 0t here and he will spam as many forums for you as he can just like he tried with Trading Zoo, although the thread appears to be have been deleted.
It's ironic that his advice is to do what trading zoo does - charge $6k up-front and cash in.
3 ES points per day per contract ?? averaging that over the long term? Wow, if that is what people expect than it ain't happening from me but if you make this on your own I'll pay you $500 PER WEEK to IM me your trades and I'll trade em alongside my own !!
