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Tom Stein wrote:
>
> Over the past 15 years or so I have subscribed to lots of newsletters...
> 800#...900#..etc......as I look back on them I come to the following
> conclusions.........
>
> The services that taught me their methodology were well worth it(even if I
> discarded the methodology for my trading).
>
> The services that just gave recommendations without explaining
> their methodology were a big fat waste of money.
>
> At this time their are about 2 newsletters out there that both teach me
> and suit my particular trading style...very important point...MY particular
> trading style.
>
> Hope this helps some of you who are considering a newsletter.
>
I have found the same thing for me re systems. I find it very difficult
to follow a system where I just receive the signals because I don't know
WHY the stop is where it is , etc. Nor do I know how careful the author
was in his/her backtesting (even tho I imagine most are much more
knowledgable than I, since I've only done this part-time (?) for 2
years. (Finally, my initial plunge into commodities was following a
signal service; I followed it fairly closely and ended up with 25% of my
account left. That makes it very hard to trust someone else's work,
even though part of the fault was mine for not understanding about
drawdowns.)
I have come to the conclusion that unless I can purchase the system and
understand it, as well as test it myself, I'm probably wasting my money
subscribing to a signal service or a purchasing a black box system. If
I can purchase the system, then I might have the confidence to trade it,
or might learn something from the techniques used.
Conrad Bowers
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