Our world is busier and noisier than ever. With a great many things occupying our minds and dividing our bodies, it’s hard to find and hold on to the simple things: peace, relaxation, stillness, quietude.
Hence the surging popularity of mindfulness. Whether through meditation, yoga, or breath awareness practices, people of all stripes are turning away from the heated bustle of Western life and embracing Eastern examples which promote and facilitate a healthier relationship with existence.
Eric Ferguson, founder of Mindful Trader, a stock market trade alert service, recognized a similar phenomenon within the world of trading: things are messy, scattered, adhering to patterns which seem not connected to rhyme or reason but a labyrinth of macro stats that don’t always add up.
Being a “numbers guy”, Eric was naturally disturbed by this, and also intrigued. The stock market was baffling, but Eric realized that with a little “historical” research into the strategies he was using, things cleared up: he was becoming mindful of the situation.
His brainchild is geared towards providing users with swing trade alerts. With a purely data-driven approach, solid reviews on Mindful Trader state how the service provides you with the kind of objective view that helps you get a handle on what Modest Money’s Bob Haegele calls an exceedingly “chaotic” market.
Swing trading is a speculative strategy that differs somewhat from day trading. Without the frenetic energy of the latter, swing trading sees investors looking at more sustained “shifts” or movements occurring across the markets; swing trades typically last a few days to a couple months.
Eric has seen a 146% median return rate over the years using his strategies, which speaks volumes. By concentrating on “swing” trading, Eric boils down his choices based on coding and hard data. This is a departure from services like The Motley Fool, whose “picks” are based more on traditional research and gut intuition. Instead, Eric throws feelings to the wind and places his belief in the long tradition of Cartesian logic.
Let’s take a closer look at what makes Mindful Trader stand out in a crowded field of stock alert services.
Mindful Trader – Know Your World
Stock picks are the core feature of Mindful Trader. The number of picks users receive per week can vary, but we usually see between 6-8.
The novel thing about Mindful Trader is that you don’t just receive a simple “pick”, but each trade alert comes with an entire information profile – this gives you the added confidence to part with your hard-earned cash.
- Bought or shorted: Eric usually tips his customers off on whether the stock in question has been “bought” or “shorted”. This is great information to know, as this distinction changes the complexion of that stock trade considerably.
- Sale price: secondly, users are always provided with the price he bought and sold the stock for. Again, this is all an effort to place you in Eric’s shoes.
- Target price: this shows the price that the stock must reach before further action is taken. For example, if he just bought a stock, it must reach the “target price” before he decides to sell.
- Stoploss: nothing unique here, as this is a tool that all active traders use. By setting the “stop-loss” at a certain price, you can automatically sell that respective stock so as to reduce potential losses. This is a great “hands-off” approach for semi-active traders that can’t sit at the computer every hour of every day.
Mindful Trader Pricing
While Mindful Trading is an intriguing tool for anyone interested in active stock trading, it is on the pricey side. Coming in at $47/month, this is more expensive than other “buy-and-hold” and robo-advisor services.
What we like about Mindful Trading is that it feels much more “intimate”. With companies like The Motley Fool or Investors Underground, you are attaching yourself to multi-tiered conglomerate, for both good and bad.
But with Mindful Trading, it’s almost like having a little Eric in your pocket – as Modest Money’s glowing review notes, subscribers find themselves “emulating” or directly copying Eric’s style of approach.
The Bottom Line – Mindful Trading and the Average Joe
Swing trading is a great middle ground. Most investors do not have the time nor the mental perseverance to make it in the boisterous world of day trading – as Annie Nova of CNBC notes, “individual investors do not have the wealth, the time, or temperament to sustain the losses that day trading can bring”.
Swing trading offers the quick thrills of day trading without the absolute commitment. By emphasizing a “buy-and-hold” strategy that typically sees you sitting on a stock for a week or more, you won’t need to be glued to your computer to reap benefits.
Perfect for those with a relatively busy schedule, this is a low-maintenance approach to stock trading that is still exciting, and, perhaps more importantly, profitable.