Description
Tracks the recommendations and strategies of 100+ newsletters and trading advisories.
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Pro-Trading-Profits.com
Pro-Trading-Profits is an online service that ranks the performance of various timing services and online investing newsletters. I subscribed to it on 2/17/10, paying $64.95 for their quarterly subscription.
It is interesting to read through their rankings and performance reports. Some of the reported results are so eye-popping that they don’t even make sense. An annual difference of 6,827% for Momentum Options Trading? Yeah, right. What does that even mean?
Worse yet, there is no standard of verification or reporting. Pro-Trading-Profits does not really act as a watchdog or third party verification service, which it advertises itself to be.
Another service which gets eye-popping reports on their rankings is the Glinser QLD/QID model. But this Glinser model did not go live until April, 2009. Yet PTP reports straight from the Glinser website that they achieved a return of 814% in 2008. Very very impressive – except that it didn’t really happen. Since the Glinser signal went live, the performance has been horrendous. Conveniently, their reports to Pro-Trading-Profits end in October, 2009. PTP simply published a history of hypothetical trades and results based on the optimized backtesting that Glinser submitted to them. There was no verification at all, and there is no mention that these are hypothetical backtested results only. I also find it disreputable that a “verification” service would put up with a service simply ceasing to report results once they take a bad turn and letting the stellar results stand.
There is all kinds of laziness, misrepresentation and lack of accountability.
There is no trial period, guarantee, or refund policy. After accessing the site and seeing the poor quality of the analysis, I unsubscribed the very next day and asked for a refund. No go. No refunds.
I can not currently vouch for competitors, but I did contact TimerTrac and asked them about their methods. They assured me that they report only on signals and trades issued in real-time or verified by mutual fund companies. I would be interested if others can recommend reputable rating and tracking services. Hulbert’s does it for newsletters and StockGumShoe is making an effort to be a place where people can go for honest and useful reviews.
I currently run a newsletter and found the same problems glworden found. PTP does not “verify” the trades of the newsletters they follow. When they first asked if they could track my newsletter, they just added what I already had on my track record page. No verification was ever requested. In addition, they asked for new trades after each month. We would send them the trades but again, no verification. We could have sent them outrageous trades to our benefit, but didn’t do that of course.
Their results and graphs and very complicated to follow and are VERY INACCURATE! Some months would show lesser or greater gains than actual. Same would be for losing months. Some were more or less than actual results. Not sure how they calculate returns, but it’s completely off.
We stopped having them “verify” our trades due to inaccuracies of their calculations.