"First Hour Trading" is a neat system geared toward day traders, which focuses on catching profitable moves during the first hour of the trading day.
Manny Backus is the developer behind "First Hour Trading", and though he's pretty young, he has established a solid trading track record.
"First Hour Trading" is great for new traders, because you get access to a daily chat room where you can even chat with Manny himself. This is where the trades for the day are called out, along with the entry and exit points.
I tried out "First Hour Trading" for a month, because there is a 30-day money back guarantee before you get charged $157 month.
Manny will post two stocks about 10 or 15 minutes before the market opens, and those will be your trades for the first hour. He is very cautious to say his trade calls are only good for the first hour, and that should you choose to trade these stocks beyond that time you do so at your own risk.
Some days you'll have two long trade picks, other days both will be short and sometimes it's one of each. One constant is that Manny always trades only Nasdaq stocks, nothing else.
When you're in the chat room you can interact with other traders using "First Hour Trading", and see their posts as well. It seems to me more people are making money with "First Hour Trading" than are not.
Of course, Manny calls out his share of losers, but he always calls out tight stop-losses so you're not taking big losses using "First Hour Trading."
One frustration with "First Hour Trading" is that Manny always calls out trades that he has gotten at entry price, but that is unlikely for you to obtain. It is very rare to see any of the traders in the chat room make more on a trade than Manny. I've seen it happen, though with little frequency.
In addition, I reviewed the tape of some stocks Manny recommended on a particular day to see if his supposed entry price was ever printed. Only to discover it wasn't, which lead me to believe he occasionally fudges his results.
I even posted a message in the chat room about this, and it was blocked so no one could see it. That made me very suspicious.
I ended up asking for my service to be canceled before the 30-day trial was up, and the customer service promptly obliged. I was never charged a dime.
Overall, I believe new traders can make a couple of hundred bucks on most days using "First Hour Trading". It's not the best system on the market, but the price is fair for what you get and most of Manny's picks are stocks that have good moves in them.
I give "First Hour Trading" 3 1/2 out of 5 stars.
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