I had been a member of Dan Zanger’s Chartpattern.com service for over a year and will try to share my experience with his service to help you make a decision whether his service is for you. I will give you an honest overview of his service, the good and the bad.
I had $9,500 in my account when I first started using his service. Unfortunately for me the market was in correction mode and not too many trades were working out. I can’t hold that against him of course. Luckily it didn’t last too long and I was able to recover and got my account up to $10,360 in matter of a few weeks.
Dan Zanger holds the world record for a one-year stock market portfolio appreciation, gaining over 29,000%. In around two years, he turned $11,000 into $42 million. Fortune magazine on December 18, 2000, wrote an extensive article on Dan Zanger, covering his trading style and personality.
He has spent thousands of hours studying every type of chart pattern. He looks at fast growing companies with revenue growth and applies his chart pattern analysis to them to pick the best ones.
Dan Zanger’s Chartpattern.com now has thousands of members around the world and is in its 12th year providing services to industry market makers and stay at home traders alike.
Dan Zanger Review
How his service works:
Every Sunday, Monday and Wednesday evening he emails and posts on his website his list of charts annotated with comments on them. Not all of them are his current holdings, he combines his watchlist in it as well with a comment on what will make him buy it.
For example, he will have a trend line drawn on the chart and if the stock breaks above the trend line you would buy the stock. Since there are no real time alerts, unless you are watching the markets all day you will need to have a resting order in the market to buy it if it meets the criteria.
Every morning Dan emails you a brief summary of market conditions, what he expects for the day and it warranted any overnight action in the markets.
One thing I like about Dan is that while he is not a big fan of shorting stocks, if market conditions warrant he will give out a short recommendation. You will need to have a margin account if you are going to short stocks however.
I found this to be one of the most valuable features of Dan Zanger’s service. I have a full time day job but I was able to have his chat room up during the day and found it interesting and educational.
Dan has a moderator there to make sure everything stays on a professional level and there are several experienced traders who will give out their own picks during the day. Dan pops in now and then during the day and offers a few comments. When he does, he is inundated with people asking him about various stocks and he will offer a very brief opinion on it.
Recent examples of winners:
Netflix, Inc. (NFLX)
Celgene Corporation (CELG)
If you are a day trader, the chat room with experienced traders sharing advice and tips is a very nice feature and you can learn from them. Dan pops in during the day to answer questions and mention stocks that are good candidates for a day trade.
Dan’s record is second to none, if you follow his picks you will make money. His 3 times a week newsletter will show you his current new picks and his latest holdings. The morning report is a quick update on what he expects to happen during the day.
He has a 2 week free trial that you can test drive his service and see if it suites you. If you don’t think its for you, cancel in the 2 weeks and it won’t cost you a penny. You do have to give him your credit card info though. You can cancel at any time, there is no commitment, it’s a month to month deal.
His customer service is not good; I emailed him a couple questions about his watch list of stocks and never heard from him.
Stocks will sometimes show up in his emails that he has a position in that I never saw in previous days watch lists.
Maybe the biggest knock is that Dan Zanger does not give very specific prices of exactly where to get in or get out. He has a trend line drawn and you have to make your best guess where to get in and there is no stop loss given.
He also will make changes to his positions during the trading day that unless you are on his chat room all day you will not know about until the next day’s email update.
There is no education section where you can watch training videos or read articles. He has some recommended reading books and his list of rules but that’s it. It would be difficult to learn enough to go it on your own.
The fact that there is no real time text or email alerts such as Jason Bond does was the final deal breaker for me.
I used Dan’s service for just over a year and I did make money with Dan Zanger BUT I feel that for my money there are better stock picking services out there. The services that I am currently using are Microcap Millionaires and Jason Bond Picks I feel that I get much better value for my money with them than I did with Harry Boxer.
If you need help in deciding which stock picking service best suites your style of trading, click here for my comparison of the services.
Looking to open a brokerage account or find a better one? I wrote some reviews of brokers I have used and currently using.
OptionsHouse Review (Currently Using)
Scottrade Review (Used when I first started)
Regardless of which Stock Picking Service you use or if even if you choose to go it alone, please download my two trading guides; 7 Habits of Millionaire Traders and How to Take the Proper Size Position for Your Account
NO strings attached, no email required.
If you have any questions about Dan Zanger or any of the other stock picking services, feel free to contact me and I will get back with you as soon as I can.
– Robert Walsh