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Step 2: reading newsletters

The second step in my “scanning” process are newsletters.

Newsletters and other publications can actually be a tremendous help in order to find the “perfect” trade. Think about how difficult it is to sort thru the endless lists of stocks every day by yourself. Chances are that you miss some great opportunities. By looking at other tips you can vastly expand your horizon and it also takes away some of the work from you.

It is extremely important though to only consider those trading tips that you completely understand and that match your personal criteria.

If you need help defining your own strategy please have a look at my book or consider my coaching services. You must know exactly why you are entering a trade, what to expect and most importantly what your risk is.

Here is a list of newsletters and services that are interesting:

http://www.hardrightedge.com/trader.htm (at the bottom of the page there are several newsletters)
http://www.tradingfrommainstreet.com (check out the free trial)
http://www.millennium-traders.com
http://www.chartsmarts.com

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