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Friday, September 11, 2009

Advisory services... change of heart?

I signed up for one more option trading service to try out. Another 90 day trial. This one has a lot of technical analysis going on. The advantage may be in the stock picks rather than the charting as looking for the particular patterns used in this system would be a lot of work without some nice software to run the scans. I tried some software that would do some of this and it was more expensive than the services, by far.

I have had a bias against signing up for these types of services in the past as I felt that it amounted to trying to take the easy way out and that is not like me. I have always felt the need to "do it myself" so that I know exactly what I am doing and what I am getting into. Even when doing work around the house the only things that I generally will hire out are windows, carpets and roofs.

Anyway, having three currently active services, all still on trial, is kind of cool in that I am getting email alerts every day and can choose to take the trade or not. While most of the work is done for me I begin to wonder if it is like the windows, carpets and roofs. It has never been that I cannot do the work. With windows I get full manufacturer's warranties, same with carpets but I also like my knees too much to do carpets. Roofs...well that is just hot and hard and if I screw it up it can ruin a lot of interior work with water damage.

So with options, I know how to select the right option for my style now. By following a trade plan I know that I can (and have) generated profits. Perhaps using a paid for service is not as bad as I figured it might be.

I may have already mentioned that if any service can cover it's cost in the trial period I may keep it and see where it may go. If all three perform in that manner then it allows me a certain amount of diversification over and above the options themselves as each applies it's own style within the market that they do best in.

So my debunking may have converted me.

Jeff.

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