All Swing Traders, if you don’t have the time or inclination then maybe Eric Fergusons trade alerts service might be of use to you.
This service could be a perfect way to start swing trading without giving up your day job.
In this Mindful Trader review, we will be discussing things like…
Is the Mindful Trader a scam? Is Eric Ferguson legit? Is Mindful Trader worth it, plus FAQ and Pros and Cons?
By the time you have read this review, you will be in a better decision making position on whether to pursue this service further or not.
Without further ado, let’s begin.
[Affiliate Disclosure: The Mindful Trader Review has been thoroughly researched from information and testimonials that are in the public domain. This post may contain affiliate links which means we may earn a small commission, however, this won’t affect what you pay!]
Product: Mindful Trader
Founder: Eric Ferguson
Website: www.mindfultrader.com
Product Description: Swing trade alerts
Cost to join: $47
Recommended: Maybe
Summary: Mindful Trader takes all the hard work out of swing trading by doing all the research for you.
In theory, all you have to do is run with the daily trade alerts that Eric and his team come up with.
Eric brings to the table over 20 years of experience as a trader and a statistical analyst but are his claims justifiable?
The Mindful Trader is a membership site that came onto the scene in November 2020 and reports on daily trade alerts for Swing Traders.
The service might appeal to all comers especially complete beginners who find the whole research thing a little taxing and confusing.
The trade alerts that you receive from Eric Ferguson are trades that he actually invests in himself.
This should give you the confidence to take his lead and invest in yourself.
You will get these alerts either through email or SMS with all the data that you would need.
Such as the exact same ticker purchased, the actual price paid and the profit exit and stop loss.
This should allow you to replicate the same trade in a matter of minutes.
For anyone who doesn’t have the time; services like Mindful Trader are ideal and will increase your probability.
But what about Eric Ferguson and his background?
Who is Eric Ferguson?
Eric Ferguson is the CEO and founder of Mindful Trader and has been involved in trading for over 20 years.
He is known as a statistician, a numbers person with an aptitude for mathematical equations and algorithms.
If you are wondering what gives him the credentials then you would have to say that Stanford University has something to do with it.
With a degree in Economics as well as a perfect score in the maths section of his SAT test.
To help Eric in his research, he adopted an analytical approach by learning how to program in several languages.
He completed his research in 2020 and started trading based on his results and then Mindful Trader was launched in that same year.
His approach to research is referred to as backtesting and he gives you an insight into how he approaches this in this 15-minute YouTube video.
Eric’s 20 Years of Trading Results
These results are spread over 20 years and are what Eric bases his back-testing results on.
143% over that span would be considered good returns however some years were not too good due to the housing market crash and of course Covid.
Some might have concerns that since he started Mindful Trader that his returns have been between 8% and 10%.
However, that would still be considered a good return especially as around 90% of traders do not make any money.
Take a look at Eric explaining those returns and how he goes about his back-testing.
What You Get With Mindful Trader
Eric Ferguson’s Mindful Trader is a trading alerts services for traders or would-be traders who are looking for a more relaxed trading strategy.
This is a monthly service whereby you sign up and receive daily alerts based on a certain set of criteria all based on Eric’s research.
They will come in the form of future picks, options picks and stock picks.
You can expect on most days between 1 and 3 picks with some days where you might not see any.
He will convey this information through emails and is very approachable for any questions that you may have.
As a member, you have access to all the historical data that Eric has compiled over the years, with tutorials.
That teaches you his options and stock trading strategies in detail.
There is a newsletter that anyone can sign up for.
According to Eric, he claims to have spent over $200k and 4 years of his own time developing these trading strategies.
Who is The Mindful Trader For?
The Mindful Trader is for anyone looking for an edge as a trader without having to take on all the necessary research.
Having said that though, you should still always do your own research.
Mindful Trader is for swing traders who are looking to hold onto trades for one to three weeks.
Swing trading may be a better trade strategy and efficient use of capital but there are downsides.
Such as more volatility and higher commissions.
How Much Does it Cost to Join Mindful Trader?
With the Mindful Trader, you get a lot of transparency whereas most other similar services tend to be the total opposite.
Mindful Trader is a membership site that will currently cost you as of this review $47/month.
From what we have seen you are getting terrific value.
There is no contract once you become a member and are under no obligations which means you can cancel at any time.
Mindful Trader is at a pricing level that many are going to be able to afford and whilst it might appeal to many.
We believe complete beginners to trading should become conversant with the language before joining.
Having said that though, the investment that you would be making with joining is minimal.
However, we estimate that you are going to need between $5,000 and $10,000 to start swing trading.
A good thing about The Mindful Trader is that you are only paying a flat fee.
Whereas with many other services the larger the portfolio the bigger the costs.
In this case, Mindful Trader is not looking after your portfolio so that flat fee would make sense.
Is The Mindful Trader a Scam?
We don’t think it is.
Eric has over 20 years of experience as a trader and spent over $200k of his own money to come up with the strategies that he shares with his members.
He comes across as a genuine person who’s willing to help you in any way he can.
For complete beginners to trading, it might be a good thing and it really isn’t going to cost you very much to find out.
It doesn’t matter how good someone claims to be as a trader they are always going to get it wrong some of the time.
Trading is a volatile industry and if you are thinking that you can make a quick buck then this is not for you.
This should be a long term strategy.
Mindful Trader Review Pros And Cons
PROS
Not Too Expensive:
You are always going to find some who think Mindful Trader is too expensive but you have to give Eric credit where credit is due.
After all, he has spent over 200 thousand of his own dollars to share his own trading strategies.
If you are expecting 100% gains all the time then I’m afraid you are in the wrong game.
Eric Seems Like A Genuine Person Who Knows His Stuff:
In our extensive research to bring you this review, we found nothing too serious on a negative front and a very forward guy.
Swing Trading Is Less Intimidating And A More Relaxed Way Of Trading:
We see a lot of people going into day trading simply because of the thought of quicker and better returns
We are all for the long trade although we are only talking a couple of weeks, all the same.
You don’t have to be on your toes all the time where seconds count.
No Commitment With Membership:
There are no upfront payments like we see with many products like this and if it isn’t for you then just cancel your monthly membership.
CONS
Low Returns In Recent Times:
Over a twenty-year period, Eric claims to have averaged around 140% return on investment but that is an average.
If you take a look at his stats then you will see that some years have been low but that could be for many reasons just like his current returns of 10%.
Something to take on board but I wouldn’t read too much into that.
The Mindful Trader Review – Final Thoughts!
The Mindful Trader is a trading alerts service specifically for swing traders and Eric has dedicated over four years of his own time.
Along with over $200k of his own money to come up with the strategies that he uses today and shares with his members.
There is no full commitment and can cancel your subscription at any time.
From the day you join you get access to all the data, training and strategies along with his daily predictions.
He seems like an open book and very approachable.
Is the Mindful Trader worth it?
The risks to joining are minimal so what do you think?
How we Make Passive Income Online?
Something that we would all like to achieve is passive income, where you can leave your business alone.
With very little intervention and it just keeps on generating cash 24/7.
Affiliate marketing is the key and a great business model that anybody can learn.
It’s a very cost-effective way to create a thriving online business.
If that might be of interest, you can check out Wealthy Affiliate of which I have been a member for the last 3 years and it won’t cost you a dime.
The Mindful Trader FAQs
Is Mindful Trader Worth The $47 a Month Fee?
Trade alert services are definitely worth looking at and the Mindful Trader as far as we can see comes with a lot of transparency.
It is also a service where you aren’t making a commitment because you can drop out at any time.
Is Eric Ferguson Legit?
I guess people, in this case, traders are evaluated on their successes over the years and whilst Eric has over 20 experience as a trader.
There is no proof and we could not verify this information.
What Are The Downsides To Joining Mindful Trader?
Even though Ferguson has all this experience you should still be doing your own research.
Nobody can promise you solid returns simply because all trades are not winners.
Nobody can predict what is going to happen in the future, not even Warren Buffet and with all the research and experience over many years.
Doesn’t mean that anything is guaranteed because every investment is a risk.
You have to take the rough with the smooth and the ones who can ride out drawbacks are the ones that will typically succeed in this game.
Can We Trade Through Mindful Trader?
Unfortunately not, you will have to find your own broker to be able to take on the trades he predicts.
Eric uses TD Ameritrade, so you might like to check them out.
Can You Recommend Any Other Trading Products And Services?
In the last few years, the internet has exploded with trading products but you have to be careful and do your research thoroughly.
Here are some that might be of interest, which we are not associated with…
Hey Guys and Gals, great to meet you and hope you enjoyed this post. We created this site to help people like you avoid the pitfalls of making money online and hopefully steer you onto the right path. ENJOY!
View all posts by Mick
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