InvesTools anyone?

Quote from gscott:

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. :D

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! [/QUOTE

Investools has a lot of information and options but if you really want to learn the whole thing be prepared to spend somewhere in the range of $20k for the full training. And many people that came to the 2 day seminar were people that had paid for the training and were still trying to learn how to use it.

Expensive lesson, buyer beware in my opinion.

My 1 year subscrition came with the $2k cost for the 2 day seminar and I will not renew when it expires.
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One of my colleagues attended an InvesTools workshop last month and she was impressed with the searches that she felt would save her a lot of time in researching stock fundamentals. She's in I.T. and gets off on searches. She gave me this link to look at. http://www.investools.com/toolbox/index.jsp

I went there and it is a set of videos that show the searches and other tools. I haven't finished viewing them yet (I'm on a slow dialup) but they do look pretty good, especially the thing they call a Big Chart that shows which industry groups are gaining institutional money and which industry groups are losing institutional money.

My question: Is there some other place where people can do these kind of searches or see the industy group money flow for free instead of paying $2K to get it?

Thanks in Advance
 
Keep in mind that Investools charges a monthly fee of around $30 to use their site. There are certainly far too many people out there that want to show you how to be a millionaire using their gizmo but me being a hearty skeptic and fond of my hard earned money, none have really impressed me to date.

As for sites that offer information for free they are out there but the information is not all in 1 place. You have to look a little bit but they are free and for the small investor like me they work fine.

Try Market Watch, MSN Money, Zachs, Mornigstar, StockConsultant.com, Ice Cold Stocks and pick and choose what you are looking for.

I am currently looking into some reasonably priced investing software or service that will help me invest more knowledgeably without costing a fortune. Many of them have free trials with a full refund so you can try them out.

I just used VectorVest and it is an exceptionally good product but too pricey for me with the $59/mo. usage charge.

Good luck!
 
I can't believe that people on ELITE TRADER would even be asking about some investment product being hawked on an infomercial.

There is no holy grail to anything in life. Not school, business, investing, relationships or health. You have to learn on your own.

For $3000 you might as well just dump that into a broker's account and play around with it yourself to figure out what to do.
 
I plan to attend an Investools free workshop on Friday, 6/22. I'll post my impressions after, if anyone is interested. (Let me know - otherwise there's no reason for me to waste space in the thread)

My thanks to peekaboo2yoo for starting this thread. With 13 pages and >64,000 views, it obviously was a good idea...
 
Quote from Optimistic:

I plan to attend an Investools free workshop on Friday, 6/22. I'll post my impressions after, if anyone is interested. (Let me know - otherwise there's no reason for me to waste space in the thread)

My thanks to peekaboo2yoo for starting this thread. With 13 pages and >64,000 views, it obviously was a good idea...
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If you know anything about sales, watch for all the trial closes that caused me a great deal of concern. IMO, to really appreciate what they offer you should attend the 2 day session and that will cost you ~$2k but includes a year of site access.

I still use the charting and research tool frequently as it helps with analysis. The information provided is extensive but can be found elsewhere for much less.

I would say it is a matter of choice but the new investor should be very careful as the full training series costs >$20k and is money that could be better spent for the newby.
 
I don't mind trial closes because I know that's how sales people are taught to make a living. (I *did* mind the sleaziness at the Better Trades free workshop that I attended this month).

If a friend will split the $2k cost with me, I'll try the two-day Investools workshop after I attend the free one this Friday.

Thanks for the advice!
 
Quote from Optimistic:

I don't mind trial closes because I know that's how sales people are taught to make a living. (I *did* mind the sleaziness at the Better Trades free workshop that I attended this month).

If a friend will split the $2k cost with me, I'll try the two-day Investools workshop after I attend the free one this Friday.

Thanks for the advice!
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They do give you a real nice pen and free lunch if you sign up for the 2 day deal!!

As for the friend, you can bring someone along for no additional charge so your friend could also attend for the same price and they would also get the pen / free lunch deal.

A real two-fer :)
 
At the June 22 2007 seminar in Dana Point CA, the price was $1K plus $50/mo after 6 mos.

A month before that in nearby Irvine CA, the price was $2K plus $30/mo after 6 mos (my colleague was at that one).

In each case, the price included a 2-day instructor-led class plus the online class, plus bring a family member for free, and your credit card would not be charged until after 7 days.

I was glad about the $1k price, even though it will be more expensive in the long run.
 
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