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You can choose from hundreds of newsletters and advisory services that will alert you to trading opportunities. Some are good, some are real good, and many are useless. How do you know which is which? |
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Among the services we have previewed and found to be effective are: Pristine.com, eGoose.com, Tsignals.com, StreakingStocks.com, and TradeHard.com. Although their services vary, each does a good job of alerting you to potential trading opportunities each day. |
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As an example, lets look at Digital Discipline ReportTM, a daily advisory service offered by SixthMarket.com. |
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The Digital Discipline Report scans the entire NYSE, Nasdaq, and AMEX each night, searching for revival buy, smart buy, wedge buy, and others. The picks are delivered to you over the Internet each evening, featuring promising chart setups for the next day's trading. A service like this knows what good setups look like and helps make your work easier. |
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Each opportunity comes to you with a complete trading plan, including: symbol, action, entry price, slippage, initial protective stop, and exit target price. |
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Here is a sample from an actual report. Notice that the information is clear, concise, and easy to follow: |
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Figure 14.1
Sample Trading Plan |
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You should review more than one newsletter and advisory service, and use as many as you feel are useful. After all, you are looking for help in finding profitable trades, so subscribing to two or three services can help increase your chances for more successful trades. Be ruthlessly practical about making your choices, no matter what a service costs. Just one good trade can more than pay for a full year's subscription! |
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