Traders' Resource  |  AUG 2011

Traders’ Resource: Consultants

Consultants consult on just about every conceivable worry traders have. They have been called in to consult on everything from tax advice to weather reporting. Can all this help you? Maybe. The rules for checking out consultants are simple: check references, check references, and (did you guess?) check references. Nothing can be more vague than a consultant’s initial proposal, but nothing is clearer than a client’s opinion on the success of a consultant’s engagement. Consultants without satisfied clients are likely to be doubly expensive: wasted money and wasted time. When checking references, make sure you use some references not supplied by the company you are evaluating. That said and with that in mind, you must do your homework before calling a consultant in to help you. Be sure you can say in one sentence what you want the consultant to achieve. In addition, be sure you know of and can contact people who truly specialize in your area of concern, not simply someone who will take on any problem that someone dreams up. Again, references from others (and satisfied customers) are great lead.

by Technical Analysis, Inc.