"X, I am thinking about offering a service for reversion to the mean trades if there is enough interest. I wanted to post about it in comments, but wanted to check with you first to see if it was ok (don't want to be accused of spamming).
The way I envision the service is that I will post my gap list every morning, then I would post the candidates from that gap list that I am watching as the morning progresses. I would post my thoughts on charts as they formed, and let everyone know what I'm watching, what setups look good, red flags, etc.
What it would not be - I don't want to have a service where I call entries and exits, as that takes the trading responsibility away from the person making the trades. Instead, I want to communicate everything I see; they will have my opinion on the charts, and based on that they can form their own opinions and make a decision on what to trade and when.
Advantages - I've tried a lot of services over the years, and they are usually hard to follow. Since I am trading on a 30-minute timeframe, it should be easier to issue updates and thoughts, and the overall tone will be relaxed and easy to follow (meaning there won't be 100 useless, hard to follow updates every hour). Also, I think I will use something like Yahoo Messenger which will allow me to easily broadcast messages; that way they don't have to monitor a room or wade through chatter that is off topic.
Price - I'm not sure. I am not looking to make a lot of money, only to make it worth my effort. I'm already doing the work, it is just the effort of communicating that work to others. I'm initially thinking something like $25/week, but I need to give it more thought.
As I said earlier, this is dependent on whether I can get enough interest. If people are interested, they can send me an email indicating that to rtmtrades at gmail dot com.
Thanks and let me know if I can make the comment.
X note - please address all questions on Michael's proposed service to him via email (provided in his message above), not in post comments. I want to keep post comments focused on charts, trades, and blog stuff. Thanks.
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