Mindful Trader Review
Overall
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Easy To Use?
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Cost
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Profitability
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Time Needed
The stock market is a competitive arena, and Mindful Trader is a major participant. Eric Ferguson is the proprietor of Mindful Trader, and he makes his living by sifting through significant historical facts about the sector.
Trading individual stocks may be challenging at times, and it can be much more difficult to trade equities actively. Swing traders, who keep their shares for a few days to a few weeks are aware of this situation.
This review will cover this process through Mindful Trader, a stock selection service that aims to assist consumers. Continue reading to learn more.
Mindful Trader Overview
As a stock-picking service, Mindful Trader emphasizes swing trading tactics and provides timely warnings to its clients. It was built to assist anyone interested in trading but doesn’t have time to figure out what works and what doesn’t to become proficient.
Backtesting of the last 20 years of stock performance and trend analysis are the foundations upon which Ferguson’s trading systems are built. Mindful Trader has much more to offer new traders, but more experienced investors will find value in the constant stream of signals it provides. These alerts can point advanced investors in the direction of potentially lucrative possibilities.
Aside from providing stock choices, Mindful Trader also offers insights that can help you improve your trading tactics and increase your chances of success.
Not only do you receive notifications for swing traders, but it also provides a core strategy that will assist you in tackling the financial markets by Ferguson. Additionally, it has tutorials that may instruct you on how to trade equities efficiently in the market.
Features
If you plan to pay a monthly membership fee for a service, you undoubtedly want to ensure that you receive value for your spending. So, here are some features that Mindful Trader offers.
Stock Picks
Stock Picks are the major element of the service. There are 6-8 choices weekly, although it varies weekly, with some having no options and others having as many as 10 or more.
A trade alert consists of a variety of components. Here is what you’ll see when you get an alert:
1. Bought or shorted. “Bought WMT” or “Bought ETN”: the code of the stock you bought. Because you short-sell, there may be occasions when it shows “shorted” instead of “purchased.” However, the majority of options will be for purchases.
2. Sale Price. The selling price appears after the words “purchased” or “shorted.” If you bought or sold the stock at this price, this is what you paid for it.
3. The Target Price. Before taking any further action, the stock must hit the target price. Before you can profitably sell a stock you recently acquired, it must rise to the profit objective. Short-sellers must wait for prices to fall to the goal before they may buy back their shares.
4. Stoploss. One of the most important tools for any active trader is this one. You can set a stop-loss at a specific price if the stock rises in the opposite direction of what you anticipate. That will allow you to cut your losses and go on to the next transaction immediately.
In recent years, Mindful Trader has experienced tremendous expansion. The stock recommendations made by Eric, which are determined by historical probabilities and the inclinations of price momentum, continue to be the most important aspect of his service. Today, helpful, instructive videos have been added to the live trading.
At the moment, the member dashboard is comprised of the following sections:
- Stock education
- Options education
- Futures education
- Other resources
- Live trading
- Help getting started
Mindful Trader Trade Alerts
This stock market service is available without the notifications provided by Mindful Trader. Your portfolio and profits will grow as a result of their assistance.
It is common for the company to broadcast one to three warnings daily between 6:30 am and 3 pm PST. The number of suggestions is comparable to several day-trading programs, which is saying something. A phone call or email is sent out with the stock name, the price Ferguson paid for the stock, and the profit escapes and stops loss.
For further protection, it tells you when to exit the transaction if the target price is not met. You must follow Ferguson’s instructions for fixing your settings and sit around waiting for results.
Get in Touch Directly with Eric Ferguson
Not only does Eric Ferguson engage in each trade alert he sends out to his customer base, but he also encourages customers to get in touch with him.
Anyone registering for the Mindful Trader service is granted access to Ferguson’s email account. Ferguson is excited by the opportunity to converse with novice and seasoned traders and provides prompt replies to all emails.
People searching for insights have even been able to call Ferguson or have a Zoom session with him if they make the request.
Backtesting
Backtesting played a significant role in developing the trading methods that Eric Ferguson uses in the Mindful Trader program. It covers twenty years, which means that consumers have access to a considerable amount of data.
In fact, Ferguson endured a lot of difficulties and exerted great effort to gather and validate this information.
Ferguson says, “it cost me more than $200,000 and 4 years of my time to understand and implement these trading tactics.” Not many people working in this industry are prepared to commit to ensuring that their stock market insights are put through extensive testing.
Performance of Mindful Trader
The fact that Mindful Trader’s creator, Eric Ferguson, is so open and honest is a strong point of the company. Before you sign up, he outlines the outcomes of each trade alert that has occurred since Mindful Trader went live. It allows you to evaluate the financial success he and his followers have enjoyed directly following his trade alerts.
According to what is stated on the Mindful Trader website, the trading performance of the company’s 20-year backtesting has resulted in an average return of 143 percent. Also, there was a direct and indirect financial drawdown of 28 percent.
Mindful Trader Cost
The cost of using Mindful Trader is $47 per month. It is substantially more expensive than services that include buy-and-hold investing but significantly less expensive than services that involve day trading. Because the anticipated profits from Mindful Trader fall in the center of those generated by the other services, the current pricing appears to be spot right.
Mindful Trader Pros and Cons
There are many good reasons why you should consider signing up for this service as a member. As a potential customer, you must be conscious of several certainties that this company upholds.
Pros
Utilizing the various services that are on offer from the company carries with it many benefits, the most significant of which are as follows:
- Beginner friendly: When you’re just starting in the world of trading, it may be a stressful and daunting experience. It makes it considerably simpler and less intimidating for beginners to trade.
- Test of 20-year-old Data: Twenty years have gone into the development of Eric’s method, and he has a history of outstanding returns.
- Affordable for most people: Although some people are unhappy with the price, on the whole, it seems to be reasonable. In the future, the value of the choices will unquestionably increase to reflect the degree to which they were successful.
Cons
Even though it has several benefits, there are also some drawbacks associated with it.
- Low profits to be had this year: This year, returns are expected to be between 8 and 10 percent, despite Eric’s assertions that they’ve been as high as 140 percent over the past 20 years. That’s not a very good thing. Consider waiting a year to see whether the situation improves.
- No refunds: Since this is a subscription service, the fact that there is no option for a return is hardly the most significant drawback.
Joining Mindful Trader
Simply having a brokerage account and sufficient cash on hand is all you require in addition to registering for the service. Although Eric uses TD Ameritrade, you may use whichever brokerage you like most; it will still function. While it is feasible to imitate Eric’s technique with a smaller beginning capital, he suggests having at least $10,000 available to get things off the ground.
The monthly subscription for Mindful Trader is a fixed rate, so even though it might seem a lot, keep in mind that it’s only one payment. When you have a larger portfolio, choosing a service that charges you a single monthly rate is always advantageous.
Since they do not charge a percentage of your inventory as their fee, the total amount you spend on fees will never go up. The Mindful Trader will not be in charge of maintaining your portfolio on your behalf, so the flat price makes perfect sense.
Frequently Ask Questions (FAQs)
The following are some of the most commonly asked questions about Mindful Trader:
Is Mindful Trader legit?
The swing trading service, Mindful Trader is supported by twenty years’ worth of historical data analysis. There is just a one-month minimum commitment required for a membership, and users are granted access to all of the services immediately upon signing up.
Additionally, the degree of openness is quite high, and the precise trading characteristics are communicated to the subscribers.
Does Mindful Trader work on a mobile device?
Since Mindful Trader is still in its infancy as a business, there is not yet a mobile application that is specifically designed for it. Even if notifications may be accessible through mobile, the platform itself is not designed to work particularly well with mobile gadgets.
Utilizing the platform on your home computer or portable laptop will provide a superior experience.
Is the Mindful Trader a penny stocks-only investor?
Penny stocks tend to be the focus of many such venues. These are shares of micro-companies that are only a few cents each. As a result, many swing traders risk losing out on a good opportunity and instead choose to buy low and sell high.
In light of these issues, Mindful Trader only invests in large-cap firms with a lower risk of experiencing dramatic movements.
What’s the finest stock-picking service?
The stock choosing service that best meets your requirements is the one that is considered to be the greatest overall. Trade frequency, trading platform, and assets moved all need to be considered, coupled with an emphasis on maintaining low costs and transparency.
Reviews
Customers of Mindful Trader are, on the whole, pleased with the service quality. Nevertheless, the company still has certain areas in which it may be improved; therefore, some customers may leave unfavourable reviews.
DayTradingz
DayTradingz gave Mindful Trader 4 out of 5 stars in this review. They stated that the instructional content of Mindful Trader is valuable for all early buyers and that it makes sense to watch a video to understand the platform better. It was well worth the time that was spent.
Modest Money
People come to Modest Money to learn about investing and how to utilize it to improve their lives. Mindful Trader received a rating of 4.7 out of 5 on its website.
Reviews Bird
Reviewsbird is now ranked as the top review website in the United States. 9.6 percent of Mindful Trader’s customers are satisfied with the company’s offerings, and most of their concerns center on delivery.
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