Have you heard of these trading newsletters? Scam or not? - Aussie Stock Forums

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  1. #1

    Default Have you heard of these trading newsletters? Scam or not?

    Hi everyone,

    I am after some advice/recommendations if that is ok.

    My Dad wants to learn how to make some money trading and has asked for my help in figuring out where to start to learn the ins and outs.

    He has come across people in the States that selling financial newsletters such as Stansberry & Associates, Daily Wealth Trader, The Oxford Club.

    I am research these people so that he does not get involved in anything nasty.

    All I can find on these people is that they all work for the publishing company Agora and the only things I can find online come from their own websites.

    Has anyone on this forum heard of them?

    Alternatively, is there a book or a course or a website where I can direct my Dad to, to learn the basics from a trustworthy source?

    Many thanks

  2. #2

    Default Re: Have you heard of these trading newsletters? Scam or not?

    Personally if I was starting out again I wouldn’t subscribe to any newsletter because I believe you need to understand why you’re putting your money into a stock.

    The first information that I read about technical analysis was www.investopedia.com/university/charts/ There’s a lot of good information on that site under the active trading tab. After reading the info at the link above I highly recommend this site http://www.swing-trade-stocks.com/ the information is sound, easy to understand and free.

    I bought this course for about $100 http://www.tradingmasterplan.com/ and for that money I thought it was very good value. I also bought the course from http://www.swingtraderguide.com/ for about $110 but I believe the tradingmasterplan is sufficient.

    Other places to go to get some free video tutorials are www.stockhaven.com and http://www.stock-market-strategy.com/

    For charts he could go to http://www.incrediblecharts.com/ which has an educational menu on the left side of the page, however the industry standard is www.stockcharts.com but http://www.freestockcharts.com is worth a look as is http://bigcharts.marketwatch.com and let's not leave http://www.finviz.com/ off the list.

    A recommended book for later is “High Probability Trading Strategies” http://www.dymocks.com.au/ProductDet...9#.U9whSWPiiJ4

    Later after your father believes he has a handle on the ins and outs of stock trading there are two schools of thoughts about finding stocks to trade. One is to create scans that will select stocks that have the potential to be good trades in the short term. The other approach is to consistently follow a certain number of stocks and only trade them. I personally fall towards the second options because I like to get a feel for the way a stock behaves. In either case a newsletter isn't necessary. What is of much more benefit is if he can find a group of traders who he can discuss stocks with, assuming that they're competent traders.

    If he intends to trade the US market sign up for a papertrade account at https://www.thinkorswim.com/tos/client/index.jsp but since they don't accept accounts from Australian citizens any more he may have to pretend to be an American when opening the practice account.

    Hope this helps.
    Last edited by saroq; 2nd-August-2014 at 10:59 AM.

  3. #3

    Default Re: Have you heard of these trading newsletters? Scam or not?

    Forgot to include these links.
    Your father really should pursue education first before he thinks about getting stock picks from a newsletter but if he's determined to go that way have a look at http://itradingapp.com Picks and analysis of stocks are sent to your ipad or you can access them by computer.

    Robert Desmond from http://thecontrariantrader.com/ is worth listening to for the way he analyzes charts here's an example http://www.youtube.com/watch?v=-thI8uxpvUE

    Michael Mathew from http://www.winningstockcoach.com/ also does a weekly chart analysis and he's worth learning from. Here's a recent example of his video http://www.youtube.com/watch?v=JUsPiJaXDrU

    I'm not endorsing anyone or any product I'm just passing on information that I've found some use in.

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