How many trader chat internet advisory services are out there?

Question

There are many "advisory" services for day traders that offer trading signals in chat rooms. Examples are pristine.com, marketwise.com, lbrgroup.com etc. I'm wondering how many of them are out there. And, on average, how much capital does it take to start up one of these. Taking the question further - how many "clients" do you need to break even per month on average, what's the turn over rate in clients and how do these companies go about recruiting clients. Is that too many sub-questions? (This is my first question).

Answer 1

Well, just the fact that your question had so many parts probably gives you an indication of how many services there are out there.

From what I can tell, there are thousands of advisory services. Some I know of have several products (like schaeffer.com). Others just have one.

In any event, the number of subscribers needed is dependent upon your fixed and variable costs, not of someone elses. My startup costs are fairly fixed, so then, it's mainly x subscribers at $y to break even, and then after that, it's profit until such point I need another person to manage the flow of information, etc.

The key in differentiating yourself is your performance and your advertising. Both will get you more clients, however, your performance will help keep them.

Hope that helps!

Answer 2

Wow !!