ChartAdvisor

[pkfryer]

I've subscribed to this site. They only call several buy/sells a month but they are surprisingly accurate! They base their advice on a combination of TA and chart patterns, but mainly chart patterns.

They have only been going since the beginning of the year but the track record so far looks good! Check them out as I think its probably a little gem!

http://www.chartadvisor.com

 

[Trader333]

I would find out what the intraday drawdown on some of these trades are. Looking at the charts they have posted some of those stocks moved by more than $1.50 in one day. If you had traded 1000 shares and had this kind of movement go againt you then you would take a $1500 hit and in my view this is a real possibility.


Paul

 

[pkfryer]

They include an entry, stop loss and target price with their chart calls. So at least you know the risk before hand and can use risk management appropriately. I dont 100% trust advisory sites anyway so would probably only risk 1% at the very most.

Im not really in to advisor sites but sometimes I find it educational to see other traders take on things. The last half a dozen of their calls have been on the ball so far. I'm going to set up a spread sheet to see how it would have worked out in reality. The losses are quite small, and the wins looks pretty good.

I have read in numerous books that often the old fashioned classical charting methods of resistance/support and chart patterns (including candlestick patterns) are often more reliable than indicators although more subjective and open to interpretation.