I've been trading with Tradenet for roughly six months at the time of this review. While a company that offers various services ranging from self-learning to personal mentoring, the extent of my exposure and review of Tradenet is limited to the trade room.
To set the tone of my review – you are absolutely getting your money’s worth.
About the trade room:
Company founder Meir Barak and Vice President Scott Malatesta primarily run the trade room. Several other analysts, who are also simultaneously in the room at varying hours of the day, supplement them and switch off during the lunch hour of the trade day. At any given point in time, you are trading alongside from 2-5 analysts from 9:30am to 4pm EST. Unlike other trade rooms that center only around one person, you’re exposed to several analysts here at a time, and on occasion guest analysts that stop by in the room offering their views. Having extra sets of eyes on the market help with finding lucrative trading opportunities that otherwise would be missed. While other trade rooms shut down after the first hour or two of trading, Tradenet’s trade room is open until closing bell, giving you the chance to trade at any hour of the trade day. On Monday mornings at 8am EST, they bring in an investor named Shlomo Cooper who talks about the current market sentiment, what is going on globally, and how you should put your trades in perspective in light of those developments.
Tradenet focus on day trading the US equities market, focusing on stocks mostly ranging from $10 up. On occasion will you find them trading stocks under $10 and almost never trading penny stocks. An informal answer by Meir when I asked why we don’t trade penny stocks is because institutional traders are generally not allowed to trade penny stocks, and that the rules are different when institutional traders are not involved. His philosophy is that if you know how institutional traders trade, you simply ride that momentum their buying and selling power provides. Retail traders that command the price action of penny stocks aren’t bound to the same rules institutional traders are, therefore your ability to predict the price of a stock isn’t as clear.
All the analysts will post well in advance the trades they plan on taking and what their stop losses are, so you can prepare and plan accordingly. This gives you enough time to look at stocks and decide whether you’re interested in mirroring the trade and how many shares you’re willing to take. They are very good about looking into questions and recommendations by users in the room, usually taking half their trades based on what users suggest. When they don’t take those trades, they will do you the favor and pull up the chart for the room to see, explaining why they’re not good trades to take.
Trade room atmosphere:
I think the biggest benefit of being in this trade room is the attentiveness to detail the entire Tradenet team has towards traders in the room. Many trade rooms I have visited in the past ignore the vast majority of what users are typing and asking, but here you don’t get that same feeling. In Tradenet, they are so dedicated to this concept that there is a permanent support representative named Clifton who constantly keeps his eye on the chat, answering questions by both new and seasoned traders. Meir and Scott will also take their time to go back in the chat, scrolling upwards to find questions that were left unanswered. When things begin to wind down during the day, Meir will hang around and turn the room almost into an informal seminar, pointing out interesting patterns he saw and explaining aspects of trading from candlestick formation to trader psychology to funny stories. He’s very personable and you really feel like you’re friends sitting at a coffee shop together, bantering back and forth.
The trade room feels like a constant educational experience and you’re really getting a 2-for-1 deal by joining Tradenet. While trading is a stressful occupation, the light-hearted banter and atmosphere makes it easier for everyone to feel more relaxed. I highly recommend that you take advantage of their 14-day free trial of the trade room to experience it yourself. No commitment, credit card or personal details outside your email and telephone number are needed to sign up. You’d be doing yourself a huge favor to check out and ultimately join the Tradenet community.
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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