New service to test, started yesterday.

I love playing with the services out there and I decided to start playing with another. It's all about the timing this time though.

The new one is a longer term stock trading setup run by the same group as the daytrading and momentum option trading systems... "systems" is not really a proper term to use though as this is not software deciding anything. I did look at a software system yesterday that may be a decent system but I will wait until August to try that out.

Part of my initiative to try yet another system is my desire to diversify my portfolio. I don't overly like the idea of relying on one setup as it may not always work as well as it is now. I figure one for each timeframe that is working is a good start. I will branch out on my own again once these are working well and I have the strategy and my implementation down pat... and when I have some more cash to play with.

So, I have been considering this new stock setup as there are a ton of tools that go with the subscription along with the callouts. These tools may be very useful in my own independent trading, we'll see. Meanwhile, seeing as the market is heading down for a bit it has been taking gold and precious metal stocks with it. This new service is mainly in these sort of stocks right now, which makes perfect sense as this is the sector that is still taking off.

With the pullback I figured that there would be an opportunity soon to be able to get into the picks at decent prices, or even lower than the initial entry targets. I was so right. In fact there was a video update today saying just that....Buy, Buy, Buy. If you were already in, buy some more to average down (which isn't something I would normally suggest, but this is a sector call and John has been right about a lot of stuff).

I decided to set $10,000 aside for this trial. Trades around the $500 area only which leaves some cash for additional trade setups or to add to the existing ones if needed. I will not use any margin for this as the trades range from $1.20 to $7 I equal weighted everything to the nearest 100 shares, largest trade is 400 shares. 11 trades in all.

The nice thing about these is that I can set and forget them. There are exit targets which I can just set GTC orders for and I can also bracket a stop as well... not that stops are used with the service but there are some terribly obvious support levels that, if broken, will be the stepping off point for a steep drop... I would place my stops below these far enough that I won't get a "touch and go" trigger.

Time will tell on this one as the timeline looks like up to 200 days... sometimes as short as a week or two though.

Jeff.