Tips On Picking A Trading Service

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.

  1. Does this services resonate with me?
  2. 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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