Mindful Trader Review
This Mindful Trader review covers all the features Eric Ferguson offers with his stock picking service. I'll provide you with first-hand information and insight-perspectives about what subscribers can expect when signing up for his service.
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About Mindful Trader
The Mindful Trader Eric Ferguson founded his swing trading advisory service and currently lives with his wife and kids in California. Eric is a Stanford University graduate, and his degree in Economics and a perfect score on the math section of the SAT test qualifies him to do mathematical research.
At first, Eric struggled like many traders. He tried various trading strategies, but the results were inconsistent. Eric is a "numbers guy" and tends to think of trading related aspects in terms of probabilities. He concluded that the mixed trading results were caused by missing kind of blindly without an edge based on his experiences.
That's where the Mindful Trader project started. Eric began to define trading strategies clearly and evaluate their historical success rate based on 20+ years backtests. He started his stock market research and identified trading strategies that have been profitable in the long term.
The median annual return of his strategies in the 20+ years backtest was 181%. On November 2, 2020, Eric started the transition from hypothetical results based analysis to live trading. He shares his trading strategy, entries and exit point of his trades with subscribers at mindfultrader.com.
Proceed reading the Mindful Trader review to learn more about the exact features of the trade alerts, the education content, backtest results and, more importantly, the total return on the account since inception.
|🏢 HQ||United States|
|🚀 Features||Education (stocks, options, futures), trading signals, private support|
|⭐ Trader||Eric Ferguson|
|👛 Discount||See review|
Mindful Trader Features
Mindful Trader has grown significantly recently. Eric's stock picks based on historical probabilities and price momentum tendencies are still the core feature of his service. Meanwhile, live trading has been complemented by valuable educational videos.
The member dashboard currently includes the following sections:
- Live trading
- Help getting started
- Stock education
- Options education
- Futures education
- Other resources
Now let's talk about the most important Mindful Trader resources.
Stock Buy Alerts
The stock buy alerts are the bread and butter of the service. Eric started live trading of his trading strategies in November 2020, and in the first 5 months, his live account grew by 19%. Despite the fact that the market was kind of volatile in this period, that's a pretty decent return for a stock picking service.
How do the trade alerts work?
The watchlist is a newly introduced feature and monitors stocks that are close to the potential entry price. The watch list includes the watch date, ticker symbol, potential entry price, profit target and stop loss.
The majority of stock trade alerts are on the watchlist before a live trade happened.
Mindful Trader is a swing-trading service. Therefore it is not essential to have the exact same entry price since being a bit late doesn't make a big difference overall. That's actually pretty beneficial compared to a day trading service where cents make a difference in profitability. Traders who trade with Eric don't have to worry if a trade gets executed for $79.50 or $79.65 if the profit target and stop are some % away from the entry price. For day traders, it would be a huge difference.
The watchlist can be used to place the exact order ticket early. A bracket order that combines the entry order and OCO order with the target and top could be used to manage the trade with a minimum time effort. However, at the market open, prices are sometimes even better than the planned entry price. And if the entry price is better, the stop loss level and target level may have to be adjusted since they are finally calculated based on the actual entry price.
One newly introduced watchlist feature is the options info. Subscribers asked Eric to include stock options info on the watchlist. Eric now has options contracts information in a separate column for those traders who prefer to trade his strategy with options instead of stocks.
The live-positions page at mindfultrader.com includes:
- All of Eric's live positions.
- The exact entry and exit point of all trades since inception.
- Detailed information about newly opened and closed trades.
The information includes details like:
- Trading date
- Time executed
- Ticker symbol
- Position buy/sell
- Entry price
- Profit target
- Stoploss price
- Maximum holding time
- Position size
As you can see, Eric operates with pretty detailed information, and any trade includes a protective stop and a profit target. The maximum holding time is a pretty interesting feature of his service. Instead of waiting month or years until either the stop loss or profit target are hit, Eric defines a maximum holding period of a couple of days. This way, three things can happen to your position.
- The price hits the profit target price and get's closed
- The price hits the stop loss price and get's closed
- If neither the profit target nor the stop loss price gets hit, the trade gets closed at any price once the maximum holding time was reached
This way, the time where the money is at risk, it pretty short, and traders have fresh capital for new trades more frequently. Eric's primary strategy is a momentum strategy. It makes sense that a position gets close after a couple of days if the expected fast momentum to the upside doesn't unfold immediately.
Eric sends a market commentary email to subscribers each day talking about the financial markets, current positions, stock pick updates and planned changes.Click Here To Become A Member Of The Mindful Trader
Trading education has become a major part of Mindful Trader, and the educational videos are great resources for all subscribers. Eric explains his Mindful Trader strategies in detail, teaches how to trade stocks, provides guidance on how to use Think or Swim, and talks about trading indicators.
Two new Mindful Trader educational sections have been added in the past weeks. The options education and futures education section with strategy videos and basics information about this type of asset is worth it to watch.
Eric is a swing trader, and he talks about his trade strategies by sharing his trading platform during the videos. All videos have a personal touch since you can see him talking to you in the videos.
Direct Contact with Eric Ferguson
The direct contact with Eric is something where Mindful Trader stands out from the competition. You can message Eric directly and ask all the questions you have. You can ask him about his swing trades, trade performance, and latest news. You can explain your trading style, ask him about his trading approach, and exchange ideas or submit suggestions to make the service even better.
Mindful Trader Backtest Results
The Mindful Trader strategies have been tested on the daily time frame for 20 years before the service finally went live with trading in November 2020. Eric invested $200,000 and 4 years of his life to develop the trading strategies for Mindful Trader. He analyzed price movement tendencies, compared returns, and now shares his supercharged trade alerts with subscribers.
Looking at the history is important, but of course, there is no guarantee that historical performance will repeat over and over again. There is never a guarantee for success when investing. But having proof that a strategy performed well in the past 20 years gives an edge compared to blindly investing.
Mindful Trader Performance Data
Here is the backtest performance data of the last five years:
- 2020: +85%
- 2019: +320%
- 2018: +32%
- 2017: +313%
- 2016: +206%
Swing trading by itself is a more relaxed approach compared to intraday trades with day trading services. The majority of day traders loses money, and if swing trades generate an annualized income with a median annual return of +181%, which was the Mindful Trader strategies backtest result over the past 20 years, then it might be worth it to consider preferring swing trades and stock picks with holding times of a few days instead of making hundreds of day trades per day.
But this, of course, also depends on your personality. Do you have the patience to wait days? Maybe a few days holding period are too short for your personality, and you prefer to buy and hold trade alert services like the Motley Fool Stock Advisor.
Wealthy Heart Blog
The Wealthy Heart blog is a blog dedicated to emotions around money, and the content follows the philosophy of the name of his service. Mindfulness, patience and well-being.
The Mindful Trader subscription fee is $47 per month. The pricing is straightforward and simple. The minimum subscription period is 1 month, and you can cancel the service at any time.
Mindful Trader Review Conclusion
Mindful Trader is a swing trading service backed by 20 years of historical data analysis. The minimum subscription time is only one month, and subscribers have access to all features right from the beginning. The transparency level is excellent, and the exact trading parameters are shared with subscribers.
The educational content is beneficial for all new investors who join Mindful Trader, and it makes sense to watch the videos to understand the platform better. The time invested is worth it.
Is Mindful Trader right or wrong? How is it about the risk exposure and trader returns compared to your expectations? I hope that the Mindful Trader review answered the majority of your questions.
You can join Mindful Trader for 1 month by using this link. The educational content alone is worth the costs, and I recommend all subscribers to start with a paper trading account when placing their first trades with Eric. Get an understanding of how to set up the orders trading will become more manageable.
The Mindful Trader Pros and Cons at a glance:
- Mindful Trader is backed by backtest results based on 20 years of historical data
- Live-trading of strategies since official inception in 2020
- High grade of transparency
- Valuable educational content for Mindful Trader subscribers
- Stock market, options and futures trading insights
- Relatively short time since the official inception of the Mindful Trader service
Mindful Trader is best for swing traders aiming for holding periods of about 1 to 2 weeks. About three new trades are generated on average every trading day, and a zero commissions trading platform helps to make trading more efficient.
What is the best stock picking service?
The best stock picking service is the one that fulfills your needs the best. Trade frequency, trading platform, and assets traded need to be considered alongside with focus on transparency and low costs.
Do professional traders lose money?
Professional traders lose money as private investors do, but they may have faster access to market news and high-end trading servers.
Are Trade Alert Services worth subscribing?
Yes. Trade alert services are worth subscribing to if there is proof that the service outperformed indices like the S&P 500 and Nasdaq 100. Another important factor is the transparency level of the service.