Has anyone used a service like qqq-trading-system.com.
I am new to investing in stocks etc. and their ad popped up on my screen when I was doing some research. It looks like it may be expensive but if it works....? (I have absolutely no affiliation with them)

Kenny

Kenny,

Hopefully, someone will post who has used such a service. But in the meantime, I’ll make some observations.

I have never personally used a service like the one you mentioned, but when I was a broker I had plenty of clients who did, and I can’t say I can remember a lot of success stories. Sometimes the service that they were using was fine, but what would happen is that people would end of not faithfully following the buy/sell signals that the service was giving them and/or they had poor money management skills. So the system may make money, but most people will still end up losing money.

I visited qqq-trading-system.com, and I’ll just tell you how I look at something like that. First of all (and I may have missed something, I didn’t spend a lot of time on the site), I can’t tell from their “About Us” page who these people are. Before I followed their advice, I would like to know their names and something about their background.

Also – and this is critical to me – I couldn’t tell how they go about generating their buy/sell signals. It says that they do it by analyzing volume rather than price, and that’s fine. But exactly what do they look for in their volume analysis and how does that translate into profitable trades? It also says that they use some discretion. That makes it even more important that I know who these people are.

If you look at the bottom of their home page, you’ll see that they have about twenty other sites that offer something similar to QQQ trading – SPY trading, DIA trading, technical analysis trading, mutual fund switching, option trading, etc. So evidentially they’re experts on just about everything.

I think that they’re probably making some good money because they recognize what most people want. People want something simple so that they don’t have to do a lot of work. They just want to be told what to do so that they don’t have to make decisions themselves. And they love to see promises of huge returns, no matter how unrealistic they may be.

It’s a wonder to me how I get anyone at all interested in what I say, because I tell people just the opposite. I tell people that they’ll have to work their tails off to become financially educated. I tell people that making money in the markets will be one of the most difficult, challenging, but intellectually satisfying things that they ever tried in their life, because they’re competing with some of the smartest, most market savvy people in the world. I tell people that they’re going to have to invest in their business, just like they would in any other business. And I tell people that pie-in-the-sky rates of returns are very difficult to achieve – especially as you start working with larger sums of money. Believe me, that's not exactly what people want to hear.

But I also tell people that if they’re willing to pay the price, the rewards of total freedom, fascinating work, and financial independence are well worth the effort.

Larry

Larry,

I appreciate you taking the time to check out the site and post a follow up. I know you are very busy.

You reaffirmed my gut feeling in as much as that I am sure someone may be able to make money using their advice and having mentors is always smart, however I personally would feel more comfortable knowing the why & how instead of following blindly. I'll keep studying .

BTW - Thanks for the tapes you send out w/ casflow game purchases. (Following the smart money & How to use options to maximize profits) Any plans on releasing them as CD's?

Kenny

Kenny, don't worry about me being "very busy." I try to stay as un-busy as I possibly can. Anytime that you have a question, this is the place for it.

As far as putting the tapes on CD's is concerned, if I weren't so technically inept I would probably do it . No, seriously, we're looking into doing that.

Larry

I do use a timing system on QQQ. It is called Timingcube. I do not use it a a sole source for decisions. I monitor the COT reports and Investor Business Daily's big picture to stay in tune with the major and intermediate market moves. Timingcube has been well worth what I have spent for it.

It has a pretty good site for evaluating it's performance up to the lates signal.


www.timingcube.com

I came across this site while looking for information on what swing trading is.

www.mrswing.com

This one focuses on individual stocks but also has a service for the QQQ.

Anybody use this one or know someone who does?

Seems like there are quite a few of these services that make investing look so easy.