Hey there!
Welcome to my Mindful Trader review.
This is a swing trade alert service from Eric Ferguson and if you're here you're probably wondering if it's a scam or not.
I'll answer that here.
Below you'll see everything you need to know about this product including background information, a look at what you get, price and more.
You'll know if Mindful Trader is worth buying by the time you're done reading.
Let's get into it!
Mindful Trader Summary
Creator: Eric Ferguson
Price to join: $47 per month
Do I recommend? It depends
Overall rating: 3/5
There's definitely some things to like here.
Mindful Trader gives you alerts about trades and they handle all the research. All you have to do is make the trade.
However, the founder of Mindful Trader claims the last 20 years he has averaged 140% yearly returns on his trades.
He launched Mindful Trader in 2020 and the first year it's been in operation he only achieved 10% returns.
Makes you wonder about his claims of success in the past.
Better opportunity: I've reviewed all the top places to get high return stock ideas. To see my favorite (which is extremely affordable), click below:
Who Created Mindful Trader?
Mindful Trader was created by Eric Ferguson.
Eric is definitely a math nerd and has some pretty impressive mathematical successes.
In high school he graduated at the top of his class.. he even got a prefect score on the math section for his SAT's.
After that he went to Stanford and got an economics degree.
So Eric is a pretty sharp guy.
Like most traders Eric didn't have too much success when he started out.
He was just following other people's trades and never learned how to do it for himself.
Because of this he decided to learn trading more in depth.
He developed his strategy over time and started trading with these new strategies in the summer of 2020.
In November 2020 Mindful Trader launched.
What Does Mindful Trader Focus On?
Mindful Trader focuses on swing trades.
Swing trading is when you're looking to make profit in a short to a medium amount of time.
Typically you'll enter a trade and exit in a couple days to a few weeks.
One thing to note is you'll likely be making more than 3 trades a week doing this strategy.
Eric himself recommends up to 3 trades a day.
If you look at his trades he's trading every single day:
In order to get the full benefit of Mindful Trader's alerts you'll need to make the same trades he does.
In order to make more than 3 trades a week you'll need to have more than $25,000 in your account by law.
So if you have less than $25,000 this service is completely useless to you.
To be honest you'll need more like $30,000 for Mindful Trader to be useful.
$30,000 will ensure you don't drop down below $25,000.
Recommended: Best Place To Get Weekly Stock Ideas
Eric Has A Track Record Of Success (Maybe)
Eric may have launched Mindful Trader in 2020 but he's been trading for over 20 years.
Here's a look at the returns he's gotten in the last 20 years (according to him):
Over the last 20 years he has an average return rate of 146%.
That's really, really good.
The years he had low returns were during the dot com bubble.
It seems whenever there's crazy stock events Eric doesn't do as well.
Unfortunately since Mindful Trader has launched Eric is only up 10%.
That's decent but it's nowhere near his average of 142%.
Obviously the stock market is crazy right now because of Covid so maybe that explains his drop in returns.
Or maybe he's misleading about past returns.
You really have to wait and see to see if his returns go back to normal.
What Do You Get With Mindful Trader?
Mindful Trader is a trading signals service.
Basically you sign up and then you get alerts when trades meet certain indicators.
These picks can take form in:
- Stock picks
- Options picks
- Future picks
Along with the trades you'll get emails detailing why Eric likes the trades.
You can expect 1 to 3 trads picks a day.
However, since the trades need to meet certain parameters there won't always be a pick everyday.
Additionally, you'll get educational tutorials that go over how Eric makes his stock and options trades.
Lastly, you get direct access to Eric.
If you have a question you can email him directly and he'll answer it.
Want The Best Stock Picks?
I've reviewed the best programs that do this.. to see my top pick, click below:
Who Is Mindful Trader For?
Swing trading is not for everyone because it involves a lot of research and you need to execute trades in a pretty timely manner.
But the good news here is you're getting alerts and all the research is done for you.
Mindful Trader posts their picks when the trading day begins and you only really have to dedicate 15 minutes to executing the trades.
So as long as you have some spare minutes in the morning this service can work for you.
Really the only barrier to using this service is the minimum legal amount you need to execute more than 3 trades a week.
You do have to be on top of things for this to work, though.
It's not crazy effort but you can't just make a trade and sit back for years while it matures.
What Are Customers Saying?
The reviews are pretty good for Mindful Trading.
Most people confirm that the service delivers what's promised.
You get stock picks every day and then you have to execute.
The main criticism I see is about Eric's trading past because this year's returns are so low.
Every year he claimed to pretty much get 140% returns and this year it's only around 8% to 10%.
The average stock market return this year is 25% so he's lagging behind.
When you're promised 140% returns and only get 8% I can see why that would make you a little upset.
Recommended: Best Place To Get Weekly Stock Ideas
How Much Does Mindful Trader Cost?
The price of this service is $47 per month.
I think that's a pretty good price for what you're getting.
Like I said you should have $30,000 if you're going to get involved with Mindful trader.
You'll make much more with the trading alerts than the cost of this service over a year ($564 per year).
I Couldn't Find A Refund Policy
If this service required a yearly payment not having a refund policy would be a pretty big deal.
When you have a customer that's dissatisfied they should be able to get your money back.
But this is a monthly service so you're not paying a lot upfront.. only $47 per month.
Because of this it's not the biggest deal that there's no refund policy.
Recommended: Best Place To Get Weekly Stock Ideas
Mindful Trader Pros And Cons
Is Mindful Trader A Scam?
No I don't think so.
Eric seems like a genuine guy and he gives you exactly what he promises to.
You get emails and texts with picks every single day and then you execute them.
Simple but when done right it's very profitable.
However, it's definitely a red flag to have your worst year trading the second you start selling signals.
Is he lying about is past performances?
I guess time will tell.
But as of now he's giving picks that are average.
If it never goes back to 140% returns then I might have to revise my opinion.
Here's A Better Opportunity
Mindful Trader isn't too bad if you have a decent amount to invest and the discipline to make the trades.
The good news is there's still a lot of good places to get stock picks.
I've reviewed all the best places to get good stock ideas.
To see my favorite (which is very affordable), click below:
Get High Return Stocks!
I've reviewed 100+ stock picking services. To learn more about my favorite, click below:
