I have been running this website for almost two years now and have been very happy with the growth of the site. I really didn't know what to expect when I started this - if I would get readers, what direction would I take the site, etc. - but now to have over 1,000 followers on Twitter and almost 900 Feedburner subscribers, along with the growth in the number of hits per month, I am quite happy. So far, everything on the website has been completely free - the videos, the charts, the commentary - and I have always intended to keep most of the site free. To be honest, I think I have put quite a bit of very useful and informative work out there for readers to hopefully enjoy and profit from over the past two years. However, for the amount of time I put into the videos published on the website, I am going to make a small change to that service that will allow me to be compensated slightly for my work there. I hope you understand.
Some readers have asked me before about starting a full-time paid service and my answer to that has always been, "well, with two young kids and a full-time job, I can't lock myself into that type of time commitment," and that is very true. My family is most important and I never want to have something else monopolize my time over them. I also have personally always questioned the necessity of subscribing to a service that charges a monthly fee, many of which are quite expensive. When I am fully invested, what good does a subscription service do me? In addition, when the market is in a position where I know there aren't too many trades to be made, what good does a subscription service do me? This is not to say that all subscription services are bad - there are many great traders that run great services out there. But for me, it never fit with my style - I would feel guilty about having people pay me to tell them to sit on their hands and do nothing, which really is the best advice many times in the stock market.
So, what I've decided to do is charge a small fee ($3) from now on for any video I put out on the website. I do believe that the videos contain a wealth of information that not only help traders prepare themselves a game plan for the market every few days, but also allow them to learn technical analysis and how to read charts as they go. I think $3 is more than reasonable for the information you get in the videos, including the individual setups on both sides of the market. Since I am charging this small fee, I plan on making the videos a little longer than they may be right now and will try to include specific buy levels and sell levels on the setups I include. You will likely notice the change in the sample video below.
The reason I chose to progress in this manner is that it also allows me flexibility in my writing and workload. I will likely do two to three videos per week, but if I have other commitments, I will do less. If the market is dead and I don't see many opportunities to make money, then I will just tell you that straight out and avoid the video all together. I believe this also allows the reader flexibility as well. Perhaps you are going on vacation for a few weeks and won't be trading. Well, that's fine - you won't be paying for anything you won't use. Maybe you are already as fully invested as you want to be - well, that's fine as well. Maybe you just need a few weeks away from the market (always a good idea from time to time). When you are ready to trade again, the videos will be there for you. Maybe you are having trouble finding some setups and want to get a few ideas. The videos will be there for you.
Basically, I look at these videos as trading tools for use as you like. I will share the setups and stocks to watch that I find in my scans with you, stocks like ...
- BEXP (mentioned here and now up over 100% from buy area in less than two months)
- CVGI (mentioned in video here and here and now up over 40% from buy area)
- KONG (mentioned here on 9/1 and now up over 30% from that buy area in under three weeks)
There will be no change in the rest of my website - I will still do the "State of the Market" reports with my thoughts daily along with random posts on trading topics from time to time and those will remain completely free, although I will not be sharing my watchlists in those commentaries as I do now. Occasionally, as well, I will share some videos for free. In addition, you are always welcome to email me or leave comments regarding stocks shown in the video and I will do my best to answer your questions.
I hope you understand and accept the change - I am not attempting to make a fortune on this website and all of my writings will remain completely free, but I think being compensated slightly for the amount of information shared and time spent in the videos is fair. You can check out the video below and then look for the change sometime during the upcoming week. Thanks and best of luck next week.