I have been asked to do a Twitter service where I give out my set ups and told I can make a good return from selling it as a monthly subscription service, here is why I won’t do it.
When I was doing my template service even though it was very low cost I wanted to ‘provide value’. In order to do this I found myself feeling under pressure to come up with trades in order to justify the monthly fee. I had added a mental filter to my trading analysis of ‘provide value’ which is a good way to start forcing trades that don’t exist! I felt more and more uncomfortable and although at the time I rationalised it was because i was too busy to provide a good service, it was really due to the pressure to be ‘right’ which i felt was affecting my trading and so I cancelled the service.
I cover this in my book Overcome Your Fear in Trading where I talk about how our mental filters overlay the trading system filter we are applying to the charts. I for one want to feel relaxed when taking my trades not under pressure to ‘perform’.