I was fortunate to be a member of the TradeSmith team that met with hundreds of investors this past weekend at the annual Oxford Club Investment U in St. Petersburg, Florida. We got a chance to speak with both longtime and new TradeSmith members, all of whom are looking to become more successful investors.
A common question we heard during the conference was “How do I follow my newsletter recommendations with TradeStops?”
It’s a great question. After all, individuals pay anywhere from several hundred to many thousands of dollars every year to access great investment ideas from some of the best analysts around. They want to be able to take advantage of these stock ideas using the TradeStops tools they trust.
It’s not difficult, but there are a few places within the TradeStops tool you’ll need to visit. You can access the easiest starting point by clicking on the “Newsletters” tab at the top of the home page. This opens up the links to all of the Newsletter publishers that have partnered with our tool.
If you have a subscription to a newsletter that’s not listed here, please contact our Customer Success team and we will reach out to the publisher to see if they would be willing to add their newsletters to our growing list of offerings.
Once you’ve opened this page, click the link(s) for the newsletter(s) you follow. This will direct you to a login page where you’ll enter the login information for the newsletters you follow. For this example, I’ll click on the Oxford Club link.
After you’ve entered your credentials, you’ll see the list of newsletters for which you have subscriptions on the left-hand side. Because of the proprietary nature of the subscriptions, we’ve blanked out the holdings in the middle of the page.
On the right-hand side of the page are the TradeStops Volatility Quotient (VQ), Stock State Indicator (SSI), and the current SSI Stop Price. These are what you’ll use to determine if a stock is right for you.
It’s easy to add all or some of these positions into a Watch portfolio. By clicking the green “Add as Watch Portfolio” button, it quickly adds all the newsletter holdings into a Watch portfolio. Here’s how that portfolio shows up in TradeStops:
You can also add individual positions instead of the entire portfolio, if that is easier for you to manage, by just clicking the “plus” button next to the name of each ticker symbol at the far left-hand side.
Once you’ve set up the Watch portfolios, you can add alerts to the positions that can help you manage your entry and exit decisions. For this example, we’re adding an SSI alert to each position. This alert will let us know when each stock has triggered a new SSI Entry or SSI Exit signal. To do this from the “Position” page, just click on the box at the top and then click on “Add Alert.”
One of the advantages of adding your newsletter subscriptions is that it allows you to build a portfolio based on the best recommendations from the newsletter editors you follow, and then maximize that information using the tools in TradeStops.
We can go into the Pure Quant Portfolio Builder Tool and click on the newsletter publishers as our data source to screen. Here’s a screenshot of that using the Oxford Club newsletters as our example. Our goal is to build a $100,000 portfolio using 20 stocks.
The Pure Quant tool will take all the recommendations the newsletters searched (in our case, Oxford Club) and run them through our proprietary screening process to find the stocks that our research has shown give you the best opportunities over a longer period of time. Below is a sample of the output generated. There were 52 stocks that qualified through our screening process out of hundreds of possibilities. The top 20 are sorted by the least amount of time in the SSI Green Zone.
The resulting Pure Quant portfolio shows you how many shares you would want to own in order to take an equal amount of risk per position. You can also see the source of each of the stocks as well as its sector classification.
Product Education Specialist Marina Stroud and I will look at how you can manage your newsletter stock picks in TradeStops during our next educational webinar on Wednesday, April 10 at 1 p.m. ET. Click here to register for this event.
Research and Education Specialist