Everyone's Different

The reason that being able to personalize your results is so important is that not all advisory services trade in the same way, and not all of them will be suitable for you. Each has their own trading system, their own way of investing in the markets.

Some day trade and are constantly moving in and out of the market. Others will take longer term positions, while others can be in the market for months invested in various Exchange Traded Funds or LEAPS. You will need to know what an advisor’s trading strategy is before you subscribe to them.

But knowing their particular strategy is only the beginning. There are many other differences as well.

Some advisors trade frequently — sometimes over 50 trades per month. Others will barely trade once a month. So if you're looking for some "market action", you might find trading once a month a little frustrating.

Some have a high cost per trade — they usually average over $10.00. On the other hand, some average no more than $2.00. The cheaper the stock or options the more you can buy, which means brokerage and subscription fees will impact your profitability less than if you're with an advisor who is recommending more expensive buys.

With some you can make good money starting with a bank of $5,000, while with others you'll need to invest at least $40,000 to be profitable.

And with some you can risk as little as 5% per trade and come out ahead. With others, you will have to at least double that, which means increasing your risk and your exposure to the market.

These are just some of the factors that will affect your profitability. (If you're not exactly sure how the profit on trades is calculated, or you want to see how these issues can actually impact your profitability, see the section on Returns.) There are also other factors, such as:

The monthly subscription fee — how much is it and how will it affect your bottom line? In some cases it can be quite substantial, particularly as a percentage of your anticipated profits. 

The number of open positions an advisor holds at one time — will you be able to maintain as many? You'll need to in order to enjoy the same level of profitability as the advisor.

These are the types of things that you need to know before subscribing to an advisory service because they will ALL affect your profitability. Consequently, the more information you have about a particular service before you subscribe to it, the better!