- What types of stocks are selected for your picks?
- Do you trade penny stocks?
- Do your picks require any judgment on the part of your subscribers?
- Do I only have to check your site once a day?
- So, I check the site in the morning for new trades and I enter these trades at my broker. The trade descriptions include a buy price, a target sell price and a stop loss price. What else do I need to do?
- I don't understand buy stop orders, limit orders, and stop losses. Can you help?
- How long does the average trade last?
- Do you use stop losses?
- How much money do I need to get started?
- Do you short stocks?
- Does your system account for market psychology and proper money management?
- Can I mimic your trades in my IRA?
- How much money do I allocate to each trade?
- I have tried other stock picking services and they were not very helpful. How is your service different?
- If I trade all of your stock picks, will I be clasified as a Pattern Day Trader?
- Do you offer a free trial?
- What if I have a question that is not answered here?
What types of stocks are selected for your picks?
Our stock picks are listed on the NYSE, NASDAQ and AMEX. We require that the stock meets a predetermined daily volume, so when our subscribers buy or sell the stock it will not influence the stocks price.
Do you trade penny stocks?
No. Although there may be a few solid companies that are penny stocks, the vast majority are extremely risky. These are not the type of selections you will receive from Insight Stock Picks. If you want the "action" associated with penny stocks, I would recommend a trip to Las Vegas. At least you will have fun losing your money!
Do your picks require any judgment on the part of your subscribers?
No. Each day we list what we are trading in our member's area. You will know exactly what we are doing in advance of the market opening. There is no judgment on your part. You will enter the same orders as we do.
Do I only have to check your site once a day?
Yes. We have targeted this site to traders who hold full time jobs or who don't want to spend their day in front of a computer screen. We give you both buy and sell instructions which should be entered with your broker in the morning. You only need to check your brokerage account later in the day to see if your order was filled.
So, I check the site in the morning for new trades and I enter these trades at my broker. The trade descriptions include a buy price, a target sell price and a stop loss price. What else do I need to do?
Nothing, except check with your brokerage firm to make sure the orders were properly executed.
I don't understand buy stop orders, limit orders, and stop losses. Can you help?
This is explained in detail in the services section.
How long does the average trade last?
We select both short-term and long term swing trades. The short term swing trades have a holding period of 1-10 days; the long term swing trades have a holding period of up to 30 days.
Do you use stop losses?
Always! We believe it's foolish to not exit a trade that is going against you by more than you believe it should. We cut our losses short and let our profits run.
How much money do I need to get started?
You can start with as little as $2000 at some of the major online brokerage firms. We are not affiliated with any brokerage firms and prefer you select your own broker. But if you are having problems, e-mail us at firstname.lastname@example.org and we will send you a list of reputable online brokers.
Do you short stocks?
Yes on occasion. The majority of our trades are on the long side of the market. However, we believe that having some of our portfolio on the short side of the market offers downside protection in the event of a rapid market decline.
Does your system account for market psychology and proper money management?
Yes. In brief, we believe that these are 2 of the most important areas for successful stock trading profits and are often the areas overlooked by non professional stock traders.
Can I mimic your trades in my IRA?
Unfortunately you can not short stocks in an IRA. You may however mimic all our long trades in your IRA.
How much money do I allocate to each trade?
Our model portfolio assumes a $20,000 portfolio value and utilizes margin which brings total buying power to $40,000. Each of our trades is allocated a fixed 25% of total buying power or $10,000.
Subscribers, especially those who autotrade, would allocate the same 25% of buying power to their trades or use a fixed dollar amount that equals 25% of their total buying power. The fixed dollar amount would change from time to time as the subscribers portfolio value increased.
The idea is for our subscribers to not only mimic our trades but to mimic our money management also. Proper money management is a major key to successful trading.
I have tried other stock picking services and they were not very helpful. How is your service different?
There are some other good stock picking services, but we believe we distinguish ourselves in that our subscribers know what we are going to trade IN ADVANCE. This allows you to complete you trading before the market opens and complete your trading in less than 15 minutes a day. It also gives you the ability to achieve the same results we do.
As for the other non reputable stock picking services, the internet is ripe with people willing to take your money with false and misleading statements. If you want the HYPE or feel the need to be told you will consistently make 400% a year following our stock picks, we suggest that you try these services. You will quickly see that you will never be able to obtain the same results that they claim.
We offer a professional service that will not make any wild claims as to what we have made in the past or to what we will make in the future. We want customers who know that not all our trades will be profitable, who know that there will be periods where our system losses money, but who also know that the key to successful trading is to follow a disciplined trading system that will achieve consistent profits in the long run.
If I trade all of your stock picks, will I be clasified as a Pattern Day Trader?
No. We are swing traders and not daytraders. Although occasionally our target price will be reached during the same day as the stock was purchased and therefore the trade will be considered a daytrade, we make sure that following our stock picks will not result in pattern day trader classification for our subscribers.
A pattern daytrader is an SEC designation applying to any account that executes four or more round-trip trades within any rolling five business day period. In other words, 4 daytrades within a 5 day trading period will lead to you being designated a pattern day trader. Pattern day traders are subject to special rules, one of which requires a $25,000 minimum in the traders account.
Do you offer a free trial?
Effective June 1, 2005, we no longer offer free trials. We have decided to devote all our time to our paying customers.
What if I have a question that is not answered here?
Contact us at email@example.com
We are always interested in hearing from our subscribers or potential subscribers.