Beware of Subscription Trade Advisory Services

“Today I am giving you my most reliable trading technique . . .”

“It can help you predict when the market will turn . . .”

“Only 3 contracts could potentially earn you thousands. . .”

“One of our expert coaches is available to assist you. . . ”

“As seen on TV. . .”

“You can get rich trading. . .”

“We’re up 100% in 3 days. . .”

“We made so much money by 11am, we spent the rest of the day playing golf. . .”

“I got rich trading &  left my wife for a supermodel. . .she’s 22, I’m 57.”

“It’s great being able to fly charter . . .”

“We take Visa and Mastercard , after you pay the $4800 fee, I’ll share with you the strategies that we’re giving to our institutional clients. . .”

DON’T BELIEVE THE HYPE!!!! There are numerous subscription trading and investment advisory services that claim to give you the moon.  There are flaws with auto trading services that automatically enter orders for you via a subscription linked to your brokerage account. Also, alert services that give you stock picks via e-mail or text message are often received too late to capitalize on a day trade, and too bad to suffice as a quality long-term investment.  BEWARE!!!

If a service doesn’t give you a free trial, or a very low cost trial with no commitment beyond the trial period, I would avoid the service. A reputable services typically gives at least 1 free  week with full access to the service so you can evaluate its merits prior to a several hundred to several thousand dollar annual fee.  Participating in free or low cost trials can give one insight into the strategies used by the various services, potentially helping one become a better trader or investor without committing to a monthly or annual fee.

There are some good services out there, but no service is a panacea for those who lack the basic knowledge to trade or invest on their own.  This is because at times, a prudent individual will achieve greater success by vetoing stock picks they don’t agree with, potentially missing out on opportunity, but limiting the risk of bad paid advice.


Leave a comment

Filed under Finance

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s