Stock Recomendation Programs

[Cburg]

Dear Forum,
Has anyone tried any of these programs: easystocksystem.com or: etfsystem.com or uptradingsignals.com?
They all send out pics at the beginning of each day using a computer program.
I'm getting ready to jump in, but I am very apprehensive, since I've been in Forex managed accounts that have all tanked!
Thanks for the help!
Sincerely,
Cburg
:|

 

[PokerBrat]

I can't say I have ever tried or even heard of those systems. But looking at the websites, they don't give a great deal of info and they all look very similar in style and with the same info (almost word for word) on the FAQ page. I'm not saying that they are a scam, but things like that make me a little suspicious.

Before you pay for a tips service you should know what you are getting. Have you contacted them to ask for any more info?

If you do use one, post your results here as I am sure people would be interested in them.

 

[johnnyonspot]

I've never tried them or anything similar. FWIW, I think one is better off picking their own stocks based on their own experience and reasoning. This lends itself to building confidence in your picks, which allows you to stay in a trade that stalls out on you instead of getting out and then watching as it goes big your way. I think any money spent on anything like this is better spent subscribing to a good stock screening web site that allows you to write your own filters and go back in time to see how they would have performed. Such sites also invariably have very experienced traders who freely share their own scans, many of which are very good. Going back in time and proving to yourself the scans work gives you all the confidence you need to use them. Paper trade them for a while and if its all good them jump in, or jump in right away without paper trading if you're satisfied from the past results. Finally, understand that I am relatively inexperienced at trading so this is, as stated, FWIW, but this is the route I am taking and though the sample size is small I am doing alright so far and having fun. I have made mistakes no doubt, usually with timing entries and exits, but hopefully am learning.

 

[PokerBrat]

Johnny, what stock screening software are you using?

 

[johnnyonspot]

I use stockfetcher. I am primarily using a filter I poached off a thread there, somewhat modified by moi--though I use the original too. It works well. Clued me into the drop in the energy sector Tuesday. Hope it lasts. I only swing trade my IRA right now so cannot short; instead bought the triple bear energy ETF and worked out well today. One of several good trades these filters have alerted me to.

 

[leonle]

I used bestgrowth.com,I am alerted by this site very well and I made quite a few bucks with this and saved my money at crucial junctures.You will be updated with the stock market flow and the suggestions automatically or whenever you needed.Mostly the analysis proves to be correct.
Hope it works for you..good luck Cburg.

 

[johnnyonspot]

I used bestgrowth.com,I am alerted by this site very well and I made quite a few bucks with this and saved my money at crucial junctures.You will be updated with the stock market flow and the suggestions automatically or whenever you needed.Mostly the analysis proves to be correct.
Hope it works for you..good luck Cburg.

I tried to go to bestgrowth.com and it does not seem to be there anymore.

 

[leonle]

Sorry mate it is bestgrowthstock.com not bestgrowth as I mentioned earlier.

 

[Cburg]

BestGrowthStock.com

Sorry mate it is bestgrowthstock.com not bestgrowth as I mentioned earlier.

Hi Leonle,
Do you know what their track record looks like? I can't find any performance data on the website. Thanks for the info!
C'burg

 

[johnnyonspot]

Hi Leonle,
Do you know what their track record looks like? I can't find any performance data on the website. Thanks for the info!
C'burg

I took a cursory glance and they are reporting gains of 10% and 13% for August and September 2008 respectively iirc. More anecdotal than anything, but better than nothing I guess. It costs $33 per month or $99 per quarter. Might want to try them out and paper trade them for a month, or ask them for all of their picks for the last year and see how they did on your own if they will not give you the results for you to simply spot check. I still think one is better off developing their own system, or adopting someone else's, and proving to themselves that it works in order to build up the confidence. The more confidence you have built up before sticking the money in, the less one will be guided by fear and greed and thus make poor decisions. Its nice to be able to buy something, see it go against you right away, but still know deep down that because it met all requirements to buy in the first instance it will go up sooner rather than later if you just let it.:whistling