Mindful Trader Review: Can Copying Strategies Bring You to Profits?
Our Mindful Trader review covers a signal seller company of Eric Ferguson. Eric provides trading strategies and tutorials on how to reach profit targets, but can Eric be trusted, and is copying strategies a sure way of getting profits?
If you’re a stocks and options trader who’s starting and has no prior knowledge, Ferguson’s strategies don’t require any, so this could be a great way to start your trading journey.
The Mindful Trader stock picking service is a great feature worth trying. However, we need to make sure this company is reliable, so keep reading our Mindful Trader review.
About Mindful Trader
Mindful Trader is a stock-selecting service for swing traders managed by Eric Ferguson. Ferguson is a retail trader who finds and shares short-term stock, options, and future trades with subscribers using backtested tactics.
Despite using backtested techniques, Mindful Trader has had a mixed track record of performance since its 2014 launch. We’ll examine the features of the firm in more detail in our Mindful Trader review to help you choose whether it’s worth the money.
Before you continue, make sure to check out StratiFi, a fin-tech business that gives investment advisers access to sophisticated risk technology as a potential partner.
|Financial Authorities Warnings
|If a withdrawal is possible
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|United States, Canada, India, United Kingdom, Indonesia
Eric Mindful Trader is only sharing his strategies, without any guarantee it will work. In the FAQ section, there is an explanation that his goal is for traders to earn money, however, profits are not guaranteed as they depend on the current market change and other factors.
Mindful Trader is not a regulated entity. Companies like this are not required to be regulated but it wouldn’t hurt to use a company that adheres to regulatory rules and holds a license from reputable authorities such as the FCA or ASIC.
Mindful Trader Features
The available assets include stocks and options and the picks posted are for those trades. The available stocks are only for large companies, like $10 billion+, such as S&P 500 and other large companies. Typically these stocks have plenty of liquidity and volume.
Eric posts a trade or two and the entry and exit points most mornings. He typically aims for a profit of 1% to 2% on each trade. If the profit or stop loss is not reached, the exit date is typically within a week. The Mindful Trader performance is a section where Eric posts a detailed breakdown of how all his trading strategies performed in a 20-year back test.
Ferguson makes his trading methods and tactics available for everyone to copy, which is a fantastic feature of this firm. He offers numerous video tutorials that walk through his pullback method in addition to a stock screen that works with the Thinkorswim trading platform.
Mindful Trader Pricing and Plans
The most basic plan seems to be the Feature account, which is used to trade stocks, options, and futures. The Extra Options account includes the entry price, price objective, and stop-loss price. The good trades can be found in the Feature account, according to Eric.
Stocks priced between $20 and $100 and options contracts with premiums under $1 are the main emphasis of a Low-priced Stock and Options account.
It is the responsibility of traders to monitor Mindful Trader as it does not send out alerts when new trades are made. However, Eric does recommend downloading additional monitoring programs to enhance the experience. The monthly payment is $47 and there is no trial period available for this service. There are no Mindful Trader discount options to choose from either.
Traders Share Their Experiences
If you are looking at the firm’s Trustpilot reviews, you won’t find many of them. There is only one 5-star comment and that isn’t enough to evaluate the company. However, we did find a helpful Mindful Trader Reddit discussion that we could use to check what traders think.
One trader expressed his suspicion that, strangely, you can communicate with the other members to know what’s going on. Either way, this trader, like several others, thinks the technique is working quite well so far for someone who is still learning or simply doesn’t have the time to undertake independent research.
Some traders didn’t like the service, so they canceled after the first month. The cancelation process was smooth and easy. Eric’s risk-to-reward ratio is 1:1. So if you start on a losing streak, you’re constantly trying to claw back to break even.
Weighing the Pros and Cons
Can I Make Money While Trading Online?
In summary, Eric’s strategies are great as they don’t require any prior knowledge, so beginners can start immediately without having to spend months on education. On the other side, copying strategies is not a surefire way to get rich. Either way, Mindful Trader is not expensive, and for $47 you can try it for a month to see how it goes.
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Is Mindful Trader Legit?
Mindful Trader appears to be a legitimate business and there are no reports of a scam from other traders. According to everything we have so far, they don’t pose a threat to investors.
How Much Does Mindful Trader Cost?
The subscription is $47 a month, with the ability to cancel if the service is not what you expected.
Is Mindful Trader Worth It?
Considering the amount of benefits and features you get once subscribed and the time required to learn everything Eric knows, yes, Mindful Trader is worth trying.