Service Identifying Market direction

I have subscribed to a few services in the past but I have developped my own way to look at the market and I no longer look for educational material so I hadn't used any advisory service until I subscribed to the traderreport (www.alternative-investor.net ) whose main value in my eyes is to provide me with a roadmap for the week ahead

lots of long term charts of stocks, FX, bonds pretty much everything that is moving. It's nice to be able to spend less time on the computer during the weekend and just print that stuff out then read it over breakfast. Their trading recommendations are also better than most of what's out there IMO
 
Quote from Option Trader:
Anyone have a recommendation of a service that stands out to quite consistently identify the direction of the market?
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Yes. This service sits on top of your shoulders. Its called a brain. And if its a good one you can inform and train the mother to consistently get it right for the day ahead.
:)
 
Quote from murray t turtle:

Agree calling tops/bottoms in trends is somewhat pointless;
since both are a process, SELDOM if ever a one time ''peak'' .....

BIG differrence between figuring market direction;
and meaningful reversals.

One of the most helpful things for identification of maket direction, regurdless of market [NYSE,NasdaQQQ, whatever ];
Market Makers Edge , book by Joshua Lukemen. He doesnt try to predict reversals tops or bottoms however .

Also the highest probability is you will eventually learn why ;
the'' trend is your friend'';
not- the reversal is your freind!!!!!

Reversals would be more important in counter trends[ smaller trends that have nore slippage;]
than trends.:cool: [/B]
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Agreed that trading with the trend is the right way to go, but still most people lose money because of the difficulty to know when to stop. A service with a good track record to call a reversal doesn't mean to trade with the reversal, rather time to play it neutral. WIthout a good track record, you will always find services that will tell you to get out during the main part of the move. The fact there are so many who don't have a good sense, doesn't prove that nobody knows.
 
Quote from youarefired:

I have subscribed to a few services in the past but I have developped my own way to look at the market and I no longer look for educational material so I hadn't used any advisory service until I subscribed to the traderreport (www.alternative-investor.net ) whose main value in my eyes is to provide me with a roadmap for the week ahead
More...

For how long have you had it for, and how has it influenced your trading patterns?
 
Quote from psytrade:

www.investment-models.com/ he has a record dating back to 1970.
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Perhaps this type of thing is along the lines of what I was thinking, as his goal is to keep you out of the market at the wrong times, and that increases your confidence level during the other times. If a service would be on smaller terms as well is what I had in mind.
 
Quote from Option Trader:

For how long have you had it for, and how has it influenced your trading patterns?
More...

Gotta say I have had it for only about 2 months, including the 3 week free trial . It's not to get trading ideas although I do get a few of them every week. Until I find or develop a bunch of systems that watch and trade indices, metals, FX I can only follow so many markets without spending my weekends chained to my computer and at my age I start realizing I have got better things to do:) it's only 44 bucks anyway I used to pay hundreds for some services.
they also have weekly updates and intrday alerts although I don't use those
 
Quote from Option Trader:

Anyone have a recommendation of a service that stands out to quite consistantly identify the direction of the market?
More...

http://www.mcoscillator.com/
They have the best track record on market timing. The service has been around for many years.
You can study there timing model based on relative strength of Russell Growth vs Russell Value and test it. It tests well for market timing.
 
Quote from Option Trader:

Agreed that trading with the trend is the right way to go, but still most people lose money because of the difficulty to know when to stop. A service with a good track record to call a reversal doesn't mean to trade with the reversal, rather time to play it neutral.

WIthout a good track record, you will always find services that will tell you to get out during the main part of the move. The fact there are so many who don't have a good sense, doesn't prove that nobody knows.
More...

==========

Yes, you have to factor in ones personality,home office preference;
one service mentioned with only 1 or 2 signals/year is too long term for me.

Frankly the main reason that came up in my records for losing was by far ,trading too large % of account and just as bad for me was using too much leverage, including but not limited to OTM options.

Actually that was one of the few things i did not believe when most of the top traders in Jack Schwager mentioned ,limiting risk 1-5% of account.Was WRONG on that.

And one of the many reason thats important is even with an 80% hit rate, which probably haven't had that high over all;
50% drawdown requires 100% gain to break even.

Plus even an 80% hit rate could have more than 20 losing trades in a row, even though thats a very low probability for a experienced swing trader, it could happen that way.

Merry Christmas to you/family,happy Hannukah & like the king of Saudi Arabia said;
oil consuming nations should cut thier oil taxes.:cool:
 
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