Anyone ever use Trade10.Com or know anyone who has?

Posted by HardToSay on January 08, 2009 (12:18AM)

I have found 0 reviews everywhere that I've looked, and I've been looking for about the past hour. I'm weary to even try it, as what site doesn't have consumer/user reviews these days?
Has anyone paid to use this website?

Can anyone recommend an alternative if they can't recommend this one?

Thanks in advance for your feedback!

Posted by Veneratio on January 08, 2009 (12:32AM)

Quite frankly, I have never understood why people pay for these types of sites. The majority of them are scams. The one's who do offer "honest" advice, for example the slew of Fool's pay to access newsletters , rarely outperform simple market indexes over a long period of time... By the time reports on these stocks are published, portfolio managers, hedge funds, and other high capital players have almost always already caught on... leaving the individual investors like you and me with nothing to gain.

That being said, you make money by acting on an idea that is unique. Sure, a certain newsletter might offer "unique" recommendations at first but as word gets out and hype is created over this particular investing "service", it no longer becomes unique and it becomes worthless.

Just my two cents. Sorry if I wasn't able to be of any help.

- Veneratio

Posted by HardToSay on January 08, 2009 (12:38AM)

Veneratio,
Thanks for your feedback!

I was taking a look at other forums on other sites discussing similar services that the above site has to offer. All of the forums I've read have reached the same conclusion as you, so it seems as though the best thing I could do is spare myself and not use this type of service. I agree with you that one makes money by acting on an idea that is unique.

You were of help. Thanks again.

- Hard to Say

Posted by Veneratio on January 08, 2009 (12:47AM)

HardtoSay,

I think the best investment you can make is to learn from the experiences of former successful investors. One Up On Wall Street is a brilliant book written by Peter Lynch, the most successful mutual fund manager of all time. It offers a wealth of priceless advise. My personal favorite is The Intelligent Investor, regarded by almost all to be the best book ever written about investing. If you have any other questions feel free to drop me a message. Best,

Veneratio

Posted by corbinb2 on January 08, 2009 (08:30AM)

The other thing to conisder is that EVERYONE has there own style of investing, even it is based on other's actions. The best thing you can do is learn what your own style, psychology etc. is and fit everything else into that. There are always best practices, general indicators, but the actions you take are solely based on you and your mind set, level of experience and personal knowledge. Nobody else has what you have in your head.

The short version is everyone needs to do their own research and develop ther own skill set. Once you know yourself, you would be surprised how 'easy' it becomes.

Posted by Pauly B on January 10, 2009 (06:55AM)

Corbin2 you are spot on!!!  Getting to know yourself is one of the biggest challenges and most rewarding things in trading.  I trade options and do a little FOREX.  I learned quickly that trading is more about risk management and less about making money.  So many of these pay services are looking for the huge grand slam home runs.  I am satisfied getting singles and doubles and remaining consistent.

It is so interesting that these pay services never stress a trading plan, trading size, and stop loss!  They only stress the huge 350% winners.


I trade a lot of income strategies in my option trading and found that you will find core stocks and indexes that will over time consistently make you money.  The times that I have varied and gone away from these core products and strategies I get burned.

My in box on my email is good for about 15 pay services a week soliciting me.   I hit delete!!!!

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