Anyone here know of someone who took a serious stab at using InvesTools software? Any word on their results?
I am also interested in success with Investools. Also, the demo I visited demanded $3,000 for training to get started with subsequent subscription of $50 per month. Is there a way around the $3,000. What if the product is not worth this $3,000 outlay. BusinessWeek offers a lesser version. Is it worthwhile? GRW
Disclaimer: I am a coach with Investools, writing as an individual, not representing the company in ANY way. I want to clarify a misconception this question might lead to, and I am NOT speaking for Investools. Did I mention Investools is NOT responsible for anything I write here? Okay. Also I want to apologize in advance in anyone thinks I'm trying to advertise. I am not. But having been a reader/poster to this website for a couple of years BEFORE I became a coach for Investools, I wanted to give this forum community what I thought might be useful insight. Investools is an education company. It's products are market education and analysis tools to help you make the most of that education. The $3,000 is for training. If you hope to spend $3K on a website or software that will make money for you, forget it. In fact if you think ANY software can make serious money for you without you having to do the research, taking responsibility for your own results and spending the time learning to trade with emotional discipline and patience, then you should spend a single dollar on ANY software. In fact, take all your money out of the market right now and dedicate yourself (if you are truly interested in the subject) to learning about the market. Anything less is just a series of losses waiting to happen. I began trading with Wizetrade years ago. I actually made money at it, but most people I know didn't. I read books by Van Tharp and many others, I went prop trading with Bright Trading for a few months (good guys but I'm not cut out to be a prop trader and didn't do well at it). I traded on my own for a couple years using nothing but Prophet.net. I still use that and like it alot. I became a full-time coach with Investools about a year ago and have since coached over 100 students in the program. About half of them improve their results. Most all of them want to double their money every year. Three of the students I coached might actually do that. Most of the half that don't improve their investing don't take it seriously enough. Which baffles me. How could you drop 3K and then just not do it? But maybe that's actually cheaper for them since they find they aren't cut out to be traders and they can make more money doing other things. So bottom line: Investools is a method for education. Yes it works. I have improved my own trading greatly as a result of the education I took from them before becoming a coach. It has helped my trading more than anything else I have done. Does it automatically make money for everyone who buys education from them? Not on your life. If you make money from Investools education, just like anything else--it will be your fault and no one elses. What Investools Education really does is save you time. You will learn the market faster, and in my own opinion, better, by using their education than by trying to bump along on your own. CERTAINLY better than by buying some black-box software and trying to implement it. Hope that helps, -g P.S. INVESTOOLS IS NOT RESPONSIBLE FOR MY IRRESPONSIBLE POST!
So, here I am 7 months later and an Investools devotee. I spend every morning with webinars and websites. After several live sessions, courses of home study, a conference in Las Vegas and a lot of research and reading, I am getting the hang of it. Investools is well worth the price. grw
GRW, I am genuinely happy for you and your success. Hope you noticed the downtrend in the market and are either protecting yourself from it or profitting from it. -gs
What about comparing investools to other educational traders/investors class rooms or workshop, like OTA online trading academy, Cybertrading University, daytrading university or BetterTrades..I give better trades a two thumbs down. and a scale from 1 to 10, 10 been the best I give it a -100. better trades BIG MISTAKE Thank You
Glad to hear it worked for you as well. I feel the exact opposite though. I learned everything Investools has to offer and then some (A LOT more actually) from reading books that definitely comes out to much less than 20K if you're Ph.D. or even the 3K start up whatever they call it. I forgot now. This isn't directed towards you, really I am happy for you, I just want to make sure any noobs who read this don't go flocking to Investools without hearing other stories. I just don't want noobs to feel ripped off like I did 7 months ago ;D. For the record, I'm doing very well at the moment, especially since we went in to this correction, no more choppiness (at least for now), and it has nothing to do with Investools... Edit: I think I'll give an example, just so the newbies that read this will understand where I'm coming from a bit better. I believe I paid $3500 for the "Advanced" technical (Lol@the usage of advanced technicals, they make it sound so good to a newbie who doesn't know a thing about stocks) home course material. I say I believe because I'm not exactly sure, since this was 7 months ago, and I don't feel like looking for receipts. Could be more actually. Thank god I wasn't foolish enough to buy the class and coaching. Anyway, all they teach in that 3500 dollar book is simple stuff like triangles, double tops/bottoms head and shoulders, pennants, some candlestick patterns, and other indicators like RSI, OBV, CCI. I say other indicators because in the 3000 dollar start up book (Plus a class and website access) they go over the green arrow crap with the MACD and Stochastics, which is nothing more than those indicators crossing the line to create an Arrow, give me a break. Pick up the chart pattern encyclopedia by Bullkowski, and any other technical book like Steve Nison's candle stick book if you want to learn about that, which obviously comes out to less than 3500. Better yet, look up RSI and other indicators on the internet, google it, and you'll get free information on how to use most indicators. Investools is ridiculous. Ok well, that's all I'm going to say. Good luck to everyone .
Oh yeah, not that this makes Investools any better, but I did forget one thing that's also in that advanced technical book, which is Fibonacci....but again, you can look it up on google, or read on it in other books which still comes out to less. Really, all that book talks about is things such as that. I'm sure I forgot other technicals that the book goes over, but you get the idea. This is all stuff that can be read in any book or on the net for free. Also, when I mean it goes over, I mean just that, it goes over Fibonacci. For example, it doesn't go in depth on how to use Fibonacci, and all the strategies that can be used with Fibonacci, they just give you a general description, and use of fibonacci, nothing big. That course book is like a jack of all trades type of book, goes over a lot of things briefly, but nothing too in depth. I expected more from it, I mean for 3500 dollars, I want in depth look at these things, and all the different kinds of strategies, I don't want brief uses, and descriptions that I can find by googling it. What's even sadder is if you don't buy the advanced technical course, they restrict you from being able to use things such as Fibonacci, and they let you only use Stochastics and MacD for the most part. Basically, they only let you use what they went over in the start up course that gives you access to their site. That's pretty shady if you ask me. I did buy both options courses as well (They don't let you buy the advanced technicals without buying the options courses), and I don't have examples for those. Mainly because I don't use options, and I haven't read any books on options, at least not yet. However, I'm sure you can still get the same information cheaper in a book about options. Lets be real... Also, the class that comes with the start up book wasn't all that great. All they did was pretty much repeat what is said in the book. Yes, they did add in a few things here and there that wasn't in the book, like their "experience" in a certain situation (lol@experience, I doubt they're even traders now) , but overall, they just repeated what's already in the book, which led me not to buy any other classes or coaching. Sorry but, I know how to read, and I can apply what I read, I don't need someone to tell me something that I already know due to reading it in the book. What's also funny is that I explained that to one of them, and told them I'm not buying coaching lessons, and they were quite condescending about it, and explained how most people fail, blah blah blah. In essence what he was saying, without saying it, is if you don't buy the coaching and other classes, you will fail or quit. The market is too complex to learn on your own and you need us, without us your chances are slim to none. You get the idea, and it rubbed me the wrong way. While the market is complex, and most people do fail at this game, I'm doing great (at least for now, hehe), and I'm happy that I didn't cough up another 10 grand for coaching and classes. Thank god. Let me add one more thing on the start up course book (The 3000 dollar one with site access). You can learn everything that is in that course book by reading how to make money in stocks, and the author is William O'neil. Actually, you'll learn more by reading that book I just said, and I believe the book costs 15 dollars.................................Hmmm, 3000 dollars, or 15 dollars... You can see why I feel a little ripped off huh? You can then buy a subscription to IBD for three years saving that 3K (If you get everything IBD has to offer. Obviously much cheaper subscription if you don't get everything IBD has to offer) which is much better than Investool's website or any other website, doesn't have to be IBD, that's just what I happen to use at the moment. Before I educated myself on the market, and found great sites like this one, I would have bought those coaching lessons if I felt I needed them. My original thought was to just buy the course material read and learn it, and practice it paper trading. If for some reason I couldn't understand something, or was having a hard time with Investools course material, then, and only then would I get coaching since I can't do it on my own, but I did it on my own, and I bought countless other books to educate myself. Also, I never renewed my membership, and I now use Tradestation, and like I said already, I use IBD. Well, this post is much longer than what I thought it would be, but just trying to get my story out there. If anybody goes to investools, I wish you the best. Hopefully you'll get what you want out of it and don't feel ripped off like I do. To those satisfied with Investools, good for you guys as well, I sure wish I didn't feel ripped, and felt like that money was well spent....but sadly, I don't for reasons already stated....:|