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InTheMoneyStocks has a rating of 3.6 stars from 113 reviews, indicating that most customers are generally satisfied with their purchases. Reviewers satisfied with InTheMoneyStocks most frequently mention day trading, and track record. InTheMoneyStocks ranks 17th among Stock Trading sites.
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I have executed every one of their recommendations and am blown away at the profits they're generating. I have never been able to trade without my emotions or psychology causing me to miss out on significant gains or realize huge losses. ITMS helps me make decisions without emotion. Due to my career and young kids, this service allows me to generate profits while learning a foundation on TA. Thank you, Gareth and the ITMS team!
Worst service ever. Beware of subscribing. Way over leveraged and negative. You do not see how bad the drawdowns are until you subscribe. Please don't make the mistake. This trader Gareth does not care for the individual subscriber. His account is based on his wealth. He can risk $1mm and not feel any qualms about it. But for most of us this is not ideal. Stop the insanity! I.am looking into reporting this company to the authorities for unethical business practices.
I participated in the ‚Live Day Trading Room‘ for a few weeks and found no significant reason to disagree with the five-star reviews. (The only caveat is that you have to have a zero commissions account; if you live on another continent and do your trading with a bank that charges 0.5% per trade, your winnings will be too meagre, percentage-wise, to be worth the risk.)
However, I very much regret following the stock tips given in the ‚Verified Investing Alerts‘ (Gareth's swing trading service, predominantly mid and large caps, few trades with small caps; I was a member for four months). Here, Gareth never cuts his losses quickly, but often doubles down on losing trades. He calls it ‚easing into a position‘, but averaging down is frowned upon by quite a few major traders (do an online search for ‚stocks average down disaster‘ and read the first few articles). This is not the strategy you run when you want to maximize overall net profits, this is the strategy you run when you want to minimize the percentage of losing trades (in line with that, he rarely runs his gains, but usually secures them when they're up about 10%). Big difference, as one sizable negative position nullifies several smaller winners. Gareth also minimizes losses by not closing losing positions for a very long time; at the time of writing, there are about twenty open positions from last year, the three oldest dating back to April (more than twelve months ago). This is definitely not swing trading anymore, but long term investing.
There's also the issue of misleading success statistics. For 2020, this service claims a ‚total gain‘ of 1,507.67%, making you think that one year of following these trade alerts would have made you a 15x return on your investments. Not so fast. First, all the open positions are not included. Second, the relative position sizes are completely disregarded. Third, the recommended position sizes are often very small, sometimes as little as 0.25% of your portfolio, but usually about 1%. A 10% gain on such a position sounds nice, but only increases your account by 0.1%, an almost negligible amount. A much more sincere way of doing this would be a model portfolio account of, say, $100K at the beginning of the year, and a definite dollar amount at the end of the year, something other traders/bloggers do.
If you're not an above intermediate level trader, I would still recommend subscribing for just one month, not for the stock tips, but for the daily videos, as you might learn a few things from his technical analysis and find out about some interesting ETFs. There are also several multi-hour courses on ITMS, but my experience with the ‚Apprentice Trading Library‘ video series was mediocre, and you only have access for 30 days.
I'm now definitely done with ITMS. I'm sorry this was a bit on the harsh side, but all these five-star reviews had to be balanced out a little.
I couldn't find a review specifically for their blog so I'll leave one here.
One of the better market views for free on the Internet. Very informative, provides most of what you need to know for Technical Analysis. Absolutely something to be bookmarked if you want to learn to trade. The only real downside is they do big annoying ads in between videos and blog posts, could be worse but considering it's free I wont make a big thing of it but still worth mentioning. I did use their options service briefly but couldn't justify the $100 price tag for me to keep.
This site is good, but not for everyone. I lost money because I dont have the right personality for trading. I don't enjoy the risk. So when ITMS raised the price of membership, I quit.
Id like to rejoin, but find someone to split a membership with. Why? Because even though Im not a trader, but I'm still an investor in the long term. If you're interested, send me a note.
Been with these guys since March 2017. Seem like knowledgeable traders, but two big warning signs for me: 1) they don't report all their big losing trades. They took a big 50% loss in a DRYS a few months ago. I let them know they hadn't updated it in their 'closing trades' section, and they said they would update it. Well, 2 months later,,, still not updated. And when I email them about it,,, they now ignore me. Not good. 2) Gareth states what the stop price is when entering each trade,,, but then totally ignores it. And that is why he takes some big losses. I think he is just hoping it will bounce back, but when it doesn't,,,, they conveniently don't list it on their closing trades page. Others seeing this?
Nothing has changed, I still consider it a 3 stars. Actually in their portfolio, 16 out of 19 stocks are in deficit. But things will change as soon as markets reverse. Some of negative stocks bought in 2014 won't appear in their 2015 track record but will be updated in 2014 record. Still some small cap stocks are included to boost track record yields.
ABOUT ME: I'm a good investor, but a bad swing trader.
ABOUT inthemoneystocks.com: It's two technical traders, Gareth and Nick, who create the content, and their staff. Nick is a good, mature guy. Gareth is very very talented, but he's a cowboy and obnoxious.
THE GOOD:
1) They are excellent at reading stock charts. I've learned a lot.
2) Although they say news is meaningless, Gareth's (Nick's too) analysis of market events is amazing. Gareth tells the inside scoop. Example "The market tanked today because bla bla bla. Tomorrow, Greece will announce bla bla bla... the markets will tank bla bla bla... if so, the Fed will announce bla bla bla, and markets will skyrocket, etc."
3) The charting and analysis helps me follow the markets which is helpful for my longer term investments, (but I don't make money swing trading.)
THE BAD:
Short term trading is extremely difficult. I lose money swing trading, but I can't blame inthemoneystocks. I don't have the stomach (nor time) to follow their trade tips exactly 100%. As a result, I don't know if their trades actually work. (not for me) But I find the information useful and fascinating. I use it to follow the markets. I just don't bother trading…. Or trade very little. Unfortunately, using them as an analysis source is too expensive if you are not trading.
Anyone wants to contact me to talk further, I welcome you to contact me. Send a message.
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