In the following video I answer a reader's question about using stops in one's personal trading when using a paid subscription service. Sometimes trades do go against us and it's important to take steps to protect our trading capital.
Reader questions:
“When using a service like All About Trends (or any similar service) does it make sense based on your trading experience to use stop-loss orders in spite of the fact they don't recommend specific stops?”
2 Questions you must answer before subscribing to any trading service.
- Does this services resonate with me?
- How will this service integrate with my overall trading methodology?
It doesn't matter how well a service has performed in the past because someone else was pulling the trigger on those trades – not you. The best way to ease yourself into a new service is to paper trade their system as you integrate it into your own trading plan. Only then will you know if a new trading service is going to work with your personality.
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