I was just wondering if anyone has ever come across some real, actually experienced, profitable newsletter? I have checked so many out online that my head is spinning. I thought that I would throw it out to the rest of you, most of whom are far more experienced traders than myself.
Thanks,
Brett
I don't know of any specific person/group I would put 100% trust in....I usually bounce around a number of places to just see what anyone might be looking at. It's been said around here a million times (and for good reason) that you should just trade what you see and not on what someone else thinks will happen. That being said you can check out these guys, maybe it's something you will like: Peak Theories
If anyone is interested in sharing research costs for specific newsletters etc please PM me I'm also interested in some others that have been highly recommended.
You are going to laugh at this, but a friend of mine did a backtest of the following Newsletter:
The Gartman Letter
The author, Dennis Gartman, is an alleged trader...although in 15 years of trading its not known if he ACTUALLY does any trading.
He is also a TV personality.
The backtest was done based on Mr. Gartmans big picture calls...meaning whenever he published a letter or came on TV saying "Its time to go long this market" OR "Its time to short this market"...and the backtest was done on SP500 futures, on Gold, and on Oil.
The results?
HE GOT THE DIRECTION WRONG EACH AND EVERY TIME GOING BACK 6 YEARS.
And not even a "little" wrong...he was wrong for almost 10-20% moves...HUGE moves in futures markets.
You could make a lot of money take the other side of the trade from Mr. Gartman.
I do hope he comes on BMT and addresses this post.
Around 5% move the market. 10% try to follow the 5%. The rest provide liquidity.
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Been saying the same thing for a couple years myself, although never did the backtest to prove it. The worst thing Gartman can possibly do is agree with me, then I know I'm in trouble.
