I’ve been meaning to do an Investors Underground review for awhile now. Over the past year, I’ve tried about 5+ different trading services, all of them ranging in quality. Some of the services were pretty solid and others not so great. Regardless, I couldn’t justify spending $1000/month solely on trading services so I had to let a few go. Of the ones I’ve tried, Investors Underground was the absolute best.
I’ve been a member of the Investors Underground chat room for about a year now and it has become such a large part of my trading. The amount of trading resources here is astounding. The best part of the service is the actual community and how it shapes your trading mindset. My favorite part about this service is how actively everyone trades. I was a member of some other services where there would be occasional alerts but not much other action. While this may work for some other people, I prefer to be trading more actively. After all, I’m by the computer anyway. So, without further ado, let’s start the review.
Investors Underground Review
I figured the best way to do this review would be by breaking down each component of the service and how I use. I don’t do many reviews, but Investors Underground has become a tool in my trading arsenal, so here’s my Investors Underground review.
The first part of my Investors Underground review will focus on the scans. Nate’s pretty famous for his “InvestorsLive Scans.”
When I first started transitioning from trading solely OTCs to trading NASDAQs as well, I relied heavily on the scans. I would review all of the charts and read Nate’s commentary on the setups to prepare for the next day. Initially, it took me awhile to understand this new trading style. I was accustomed to looking for OTCs to swing trade, using a combination of both fundamental and technical analysis. The Investors Underground scans are based almost 100% on technical analysis, so it took some time to get used to some of the jargon and this general approach to trading. That being said, once I got the hang of it, going through the scans became a piece of cake. I would go through them, choose the stocks that fit my strategy and add them to my watch list for the next day.
I still use the IU scans as a basis for my watch lists. For me, the value isn’t in discovering stocks that are “in play.” I like seeing Nate’s game plan for the next day so I can see how it compares to my own. I still use my own scanners, but those are generally for intraday moves.
The Investors Underground chat room serves 2 main purposes for me.
- Do you ever find yourself staring at the screen looking at tons of stocks without finding any solid trades?
- Do you ever see a stock going crazy (extra volatile) and wonder the best way to trade it?
The IU chat room answers solves both of those problems for me.
First and foremost, the chat room is a great idea generation tool. Essentially, it’s another scanning tool for finding stocks (as I mentioned in a previous post). The only difference is that this scanner has the human element. Think of it this way. Hundreds of traders are scanning the markets looking for trading opportunities all day long. When they find a solid trade, they share it in chat. It’s like having hundreds of traders working for you! Of course, not all of the alerts are pure gold, but the moderators do a solid job of eliminating the noise and keeping the alerts valuable.
The second reason I use the chat room is for when I get stumped. We’ve all seen those crazy moves – whether it be Ebola stocks, a short squeeze, or some other radical event. It can be tricky to figure out a game plan. I like to see what everyone else is doing so I can better understand how traders are handling a move. I’ve found that the right insights on trades like those can save me a lot of money.
When I first joined Investors Underground, I would watch the video lessons religiously. If I had free time, I’d be watching a video lesson. I’m a big fan of learning from experience and the second closest thing was trade recaps. I’ve spent a lot of time studying trading theory as well but nothing really beats analyzing an actual trade (whether it’s your own or someone else’s). If I know a trader is successful, I like to think about why they entered and exited a position. What did they see? What was the risk? What was the game plan?
The trading recaps helped me better understand NASDAQ day trading a lot better. Now, I’m more comfortable with trading these kinds of stocks so I don’t watch the video lessons as frequently as I used to, but I’ll still come back to them if there are any crazy moves for the day. You can never learn too much.
Here’s a sample of one of the free video lessons
That about sums up my Investors Underground review….
For those who are considering utilizing a trading service to help them improve their trading, I highly recommend Investors Underground.
IU has become less of a service for me and more of a tool, like my charting software and broker.
I’ve tried a few trading services and they all had some form of value, but only IU was able to justify the monthly cost.