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Any Day Traders here ever used InTheMoneyStocks?
 

wallstreetballa's picture
ST
(Gorilla, 665
 
Points)
 on 7/22/12 at 11:46pm

Quickly ran a search on InTheMoneyStocks here on WSO and cannot believe that those clowns have the audacity to be posting their market opinion on here.

A couple of my buddies are trading solely on their opinions which is beyond me. Granted some of what they have said has been correct, I kind of see their service as a hand holding website for rookies with no brain.

Regardless, wanted to ask if anyone's used them or has friends who have, whats your opinion on them, etc

Holla

Tags:
Urban Guerrilla's picture

When I day traded, I would

ST
(Baboon, 126
 
Points)
 on 7/22/12 at 11:51pm

When I day traded, I would look at analyst estimates and read some blogs, but I'd always form my own opinion and have conviction behind it. Someone would ask me "why did you buy into xyz stock" and I'd have some solid rationale -- whether it was correct or incorrect is besides the point -- the whole idea is that you can come up with reasonable expectations given the market turbulence and white noise made by people/ firms that push the stock lower or shoot it up. I've never used their service, but when people are more busy giving advice, they are less busy making money and putting money where their mouth is. My two cents.

ky0ung's picture

^this You should always come

 
Points)
 on 7/23/12 at 12:36am

^this

You should always come with your own rationale to explain why you bought or sold something.

KelvinL's picture

I was with them for over 2

(Chimp, 1
 
Points)
 on 11/5/12 at 10:49pm

I was with them for over 2 years, and was one of the first services I used when I was trying to learn this trade. Not knowing a whole lot at that time, I was immediately suckered into the "hype" of a "no-hype" pro trading service.

Looking back now, they have taught me many valuable lessons. That is, what a truly successful trader is NOT. I'm now able to distinguish snake oil salesmen quicker than than you can say "In The Money Stocks Dot Com".

In short, they make themselves look like a very legitimate service that is trying to teach a highly proprietary methodology known only to a select few. The reality is, it's just a very basic trading system put together with bits and pieces of very common technical trading ideas like moving averages, gap fills, Fibonacci retracements, pivot points, classical chart patterns (H&S, double bottoms etc..) and candle stick analysis. Of course, to give it their special touch, they throw in a very secret and proprietary "time count" system which is nothing more than an actual count of the number of bars you see. Voodoo trading? That's what you'll get here. All this for a cool 600 bucks to learn.

All right, my actual results with that. I tried both the professional chat room (200 bucks/mth) and their Research Centre (50/mth). Chat room was absolutely a joke, as most here already said. Gareth will take no responsibility for trades UNTIL they play out. Nick will make only 2 trading calls a MONTH. I did very poorly with them in terms of scalping. e..g making 35 cents on scalping a hundred dollar stock like GS... (it's a joke).

The swing trading aspect, Research Center, is half decent. 60^% of the trades actually do work well... but if you dig a little bit deeper, you'll notice very big flaws in their swing trades. Very wide stops, that absolutely do not seem to agree with that they preach during their trading Webinars. Why huge stops? Of course, keeps you in a bad trade longer in hopes that it'll turn out a winner.

asad147's picture

They are the best , they

(Chimp, 4
 
Points)
 on 3/27/13 at 9:39am

They are the best , they teach people of the world how to trade Stocks , of course they teach the basic principles of Technical Analysis which are common knowledge , but the way they bring in all the pieces together and guide investors so that they can apply that knowledge to make money in the stock market is superb , I have been a member of their service for two years and trading the US Stock Markets for last Ten years and lost all my life savings in the 8 years before I got to know about ITMS , I can say that if I had known about ITMS ( Nick & Gareth ) I would not have had those losses , they have taught me how to trade the Market in a safe and profitable way , as we all say God bless Nick & Gareth for what they are doing .

Tandem's picture

It's a load of bullshit like

 
Points)
 on 3/27/13 at 1:12pm

It's a load of bullshit like any other service selling you tips. Don't touch it.

woodywoodford's picture

Reminds me of VectorVest.

(Baboon, 159
 
Points)
 on 3/27/13 at 1:30pm

Reminds me of VectorVest. Just stay away.

Also, holy asad147 - you work for "Nick and Gareth" or what?

GZlimited's picture

what a joke these negative

(Chimp, 1
 
Points)
 on 3/27/13 at 3:13pm

what a joke these negative people are lol. This was thread mentioned on the ITM member forum about you guys saying another member worked for them, comical. if you actually knew ITMS you would be making money too and have respect for what they provide. only on the internet is this judgement allowed by people who know nothing they are speaking of. The ITMS track record speaks for itself; honestly check it out, learn, then speak. That would be far more useful to other people.

YouKnowWho's picture

I signed up just to share my

(Chimp, 1
 
Points)
 on 3/27/13 at 8:55pm

I signed up just to share my experience...

When I first started the service, I made good money on one of nicks cycle calls. I wrote a thank you for the advice, and was soon targeted to sign up on 3rd party websites to post my favorable opinion. In return, they discounted my subscription fee for a month. That was the first sign of something fishy. They then went through a period where they made horrible calls but they still acted like they were banging out profits which pissed me off. I started taking notes on the trades they made. They were nothing more than a .500 batting average.

Gareth is an outstanding salesman. Nothing more. He is an average trader at best. And I say "at best" because he has Nick there to keep him in check.

If someone would simply do the math on how many subscribers they have, its easy to see that their cash flow is from marketing their website, not from trading. The free videos market for the Research Center. The Research Center videos market for the ChatRoom, the ChatRoom markets for the overpriced WEBINARS. It's a great little scheme they have running. But they are better at this scheme than they are at trading the market.

And the comments above are all accurate. Some hit the nail right on the head...

"Gareth will take no responsibility for trades UNTIL they play out. Nick will make only 2 trading calls a MONTH."
"I kind of see their service as a hand holding website for rookies with no brain"

CBSWannabe's picture

nicholas santiago worked at

(Monkey, 43
 
Points)
 on 3/28/13 at 10:46pm

nicholas santiago worked at northwest airlines for many decades, and got his series 7 in 2002 - 2005. Gareth Soloway graduated from Binghampton in 2003 and worked at Metlife until 2007. And all of a sudden these guys are day trading experts giving advice to people? They say a sucker is born every minute and it looks like they got lots of them. IF anything I give them props for selling people nothing valuable.

CBSWannabe's picture

also on Gareth Soloway's bio

(Monkey, 43
 
Points)
 on 3/28/13 at 10:51pm

also on Gareth Soloway's bio on the website it says: "Following his work in the financial sector, Gareth went on to trade alongside professional traders on the institutional side on the business." But based on his U4 its clear he worked for Great Eastern Securities, Inc which went out of business shortly after he left the firm. As well, unless they have a prop trading desk he was just a registered representative which means hes trading alongside REGISTERED REPRESENTATIVes...which if you think they are professional traders i LOL.

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