In our Web site we have a section called "Target Customers". In this we discuss the three groups that can benefit from our services:
A: Novice Traders who need to learn a system of how to trade, and more specifically, how to spot and interpret daily and intraday patterns.
B: Intermediate Traders who need a refresher course or want a confirmation of their own readings on the market.
C: Advanced Traders who want another pair of eyes looking for possible set-ups.
Today, we'd like to expand on this by concentrating on the beginners. For newbie traders, our system--like any other closed system that provides background, analysis, and advice for a specific area--holds a certain fascination. We tell them what stocks to watch, when to enter, when to take profits, and when to cut your losses. If you're new you can learn a lot from this: you can familiarize yourself with a successful system, you can recognize what kind of charts work, and what kind of charts do not, you can learn how professional traders interpret patterns.
However, there comes a time when you must start applying our teachings to your own data. We recommend that after several months of successful trading you start running your own scans or looking through your own list of stocks.
Set alerts on charts that you like -- if they coincide with ours, great, if not, trade them anyway.
Why do we say this? We're 3 traders who send you a newsletter for basically the price of a buck a day. All we should do for you if you are new is to teach you what kind of charts to look at, and to understand what kind of intraday conditions are of importance when you plan to enter a position. After a while, you will enter the ranks of the majority of our subscribers who use us to supplement their own readings and watch-lists. Ultimately, this is where we want you to go. Why do we say this? Well, for one, you should never rely on anyone but yourself. What if we decide to close our doors, retire young, or run into unforeseen circumstances? (We're only saying this rhetorically, of course -- we'd like to be around for a long time since writing this newsletter has been one of the best decisions we have ever made). Second, you will never be able to gain the required confidence if you do not at some time stand on your own and trade your own selections. And without confidence, you will never be able to evolve into a strong enough swimmer to tackle the shark-infested, murky waters of the world of finance.