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trading advisory evaluation


i am interested in getting feedback for an outline of subjects that should be covered in reviews of advisory service free trials. appreciate your time.

max
Excellent topic max - thanks!

I assume what you're trying to do here is standardize a report so that we can compare apples to apples.

I guess that I would want to know the following as a user/reader of this.
  • Were the calls given ahead of time.

  • Were the calls unambiguous.

  • Were there clear entry/exit levels give.

  • What capital base was required to trade these calls.

  • What were the daily draw downs.

  • How much was put at risk with the stop levels given. i.e. in worst case scenario how much could have been lost in 1 day.

  • What was the daily return.

  • The daily return versus the risk.

  • Does the guru answer all reasonable questions.

quote:
Originally posted by day trading

Excellent topic max - thanks!

I assume what you're trying to do here is standardize a report so that we can compare apples to apples.

I guess that I would want to know the following as a user/reader of this.
  • Were the calls given ahead of time.

  • Were the calls unambiguous.

  • Were there clear entry/exit levels give.

  • What capital base was required to trade these calls.

  • What were the daily draw downs.

  • How much was put at risk with the stop levels given. i.e. in worst case scenario how much could have been lost in 1 day.

  • What was the daily return.

  • The daily return versus the risk.

  • Does the guru answer all reasonable questions.





thanks day. could you also add a few subjective issues that might be important to a prospective member? id also like to hear from as many as you as possible.

max
I would be interested in:

The underlying premise of the method: trend following, breakout, fading, key reversals (picking tops and bottoms).

The typicial holding period: 5 minutes or less, 30 minutes, 1 hour, all morning (or afternoon), all day ?

Special software or programs: Do you have to use / purchase special software or be using a specific charting or data service. Can you use any broker, or do you have to be using a specific broker like IB or Trademaven ? What is the software application used by the service: do you need a Hotcomm or PalTalk account ?

Education/Training: How extensive or intensive is the training or education provided by the service ? What medium is the training provided, a multi-media CD, a manual in Word / PDF format ? What follow-up help / education can be expected ?

Degree of difficulty: is the method simple, easy to learn, or complex ? Are the trade signal setup's very easy/obvious to see/recognize in real-time ? What minimum level of skill is recommended to use the service: a new trader with little or no experience, previous e-mini/futures trading experience, or a high level of previous experience ?
Subjective? I suppose you could include the reviewer's gut feel about the honesty of the guru or the claims about the system.
quote:
Originally posted by day trading

Subjective? I suppose you could include the reviewer's gut feel about the honesty of the guru or the claims about the system.



by subjective i meant things not related to just the economics of the methods. the sort of the thing pt posted (thanks pt).
just a thought...

max..you recorded the results of your trials so accurately, and it has really been a "value-add"...have you ever considered creating your own website where you evaluate these trading vendors..a possible business model..hummm
quote:
Originally posted by youknowwho

just a thought...

max..you recorded the results of your trials so accurately, and it has really been a "value-add"...have you ever considered creating your own website where you evaluate these trading vendors..a possible business model..hummm



no i havent. i question how much demand exists and how to monetize it. i have no interest in a freebie website that doesnt generate meaningful income. any ideas.....?
There's a web site called collective2 (www.collective2.com) that does something similar to what you are talking about. You might get some ideas from there.

If you want to monetize something like this you could create a consumer report and sit in on all the free trials of all the rooms that you can find and then email your consumer report to subscribers/members or sell it as a one-off.

You might find the reward to effort ratio on the low side though. It's going to take a lot of work to put that together and as you said, "how much demand exists". Not sure how you would measure that demand...
quote:
Originally posted by day trading

There's a web site called collective2 (www.collective2.com) that does something similar to what you are talking about. You might get some ideas from there.

If you want to monetize something like this you could create a consumer report and sit in on all the free trials of all the rooms that you can find and then email your consumer report to subscribers/members or sell it as a one-off.

You might find the reward to effort ratio on the low side though. It's going to take a lot of work to put that together and as you said, "how much demand exists". Not sure how you would measure that demand...


pass. if you remember i got involved in this process to see if i could cut the learning curve and avoid the road to ruin in becoming a successful fulltime trader.
Perhaps my blog is interesting for your purpose. I show real-life performance of some Collective2 systems (i.e. trading a portfolio of systems in a real account) and share my analyses on http://scitra.blogspot.com

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The extreme-os discussion has been moved here: Collective2: extreme-os