So far, so good
I have only been with this service for less than one month, but my initial impressions are positive. I still have much more studying and may update later, but for now:
I would recommend a novice trader considering this service first start with Nate's DVD and then move to the chat room since without the proper foundation, IU will not make any sense to you. I also do not think this is the best place to be for a brand new, utterly wet behind the ears trader with zero knowledge about anything. Sheer newbies should start with Sykes like I did and then decide what's right for them once they have a couple of clues (I recently got a few, so I stepped up to IU).
I did not sign up for the Elite plan, just the Investors Live plan. That gives the chat, the scans, and a bi-weekly lesson with Nate. This was an especially good deal given the sale that was going on at the time which Nate will have every now and then. By purchasing a one year plan, the monthly cost was less than $90.
The chat room is definitely bs free and has real traders trying to make real money, so it's best to stay out of it completely and observe the chats until you can contribute something genuinely useful about a current ticker movement - you will learn much more that way. By comparison, Tim's chat room was so full of dweebs I got tired of it - no value to me and I do not miss it. As good as he is, Tim just attracts too much of the the hoi-polloi. Just my experience.
I only gave moderate marks for education since this plan really doesn't offer the level of instruction available via the Elite plan, but it still has some useful nuggets. One thing I really appreciated was the video (separate from the video library) where Nate explains how he sets up Equityfeed scans. This really made me think about how much more versatile that platform is compared to the more basic scanners available through brokers like IB and ToS. Nate has EF set up so that he can catch mid and late day movers before they go parabolic (pro tip: scanning for new highs isn't all there is to it!)
Nate continually updates the chat room with this info as he does with the morning and evening scans. One day I'll take the plunge and get my own EF subscription, but for now having Nate do these scans is a nice bonus that simply subscribing to EF and attempting to figure it out on my own would not bring.
His trading style tends to be a lot more scalp oriented, especially considering what's happened to the OTC and pot stock plays lately, as well as how much the market has slowed down since earlier this year (2014) generally. It is as true for Nate as well as rest of the gurus as well - you have to take what the market will give you. Of his three chat rooms, the momentum chat is by far the most popular.
Unlike other gurus who stick to only a couple of setups, there are a lot of plays in the way Nate trades but don't ever treat them like slot machines - planning and understanding why Nate is trading them is key. Yes, he moves with more size than most new subscribers and can win a lot with a few small tics up, but he can lose a lot just as easily. It isn't random guessing that gets him over the 75% verified success rate on Profit.ly. BTW, it goes without saying that if some guru is selling you a service of any kind and does not have verified trades - preferably on Profit.ly, and preferably auto-imported, then move on. There are fakes and con men everywhere, some claiming very dubious 75% win rates. Bull. Shit.
I'm not sure how valuable the regular moderators are but there are definitely some top traders in this chat room that I know do not monitor some other gurus. They may not say much, but the fact that they are there at all was a big selling point for me. Nate is not junior league and I think if his chat room were worthless these big players like Modern Rock and LX21 would hit the road, even if they are rich enough to buy whatever service they want.
The one negative is that Nate still has Suretrader listed as an affiliate, a broker which in my opinion sucks. They may have been ok at first but they cannot keep up with the flood of demands ever since Tim Sykes ramped up his popularity by appearing in major news feeds a couple of months back. Yes, Suretrader has borrows now and again but their execution times on OTCs are pathetically slow - they simply do not have the routes to make it faster. When it comes to any broker, you get what you pay for. At a minimum you need Interactive Brokers for shorting ($10k account minimum) but even then Centerpoint - which is who Nate uses - is head and shoulders above the rest. Problem is you need $30k to get in the door which might be a problem for some new traders.
I've never had to PM Nate yet so can't comment on his responsiveness. As far as entertainment value, could not care less; that isn't why I chose the service.
Good luck & stay green!
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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