Investools.com by Wealth Magazine Review

Investools.com by Wealth Magazine.

I went to one of the all day motivational seminars a few months ago, and while I was there I listened to a great motivational speaker, who made everything sound easy.

I signed up for Investools and tried to use them. My thoughts where that for someone who was interested in buying and holding for a while it looks like it would probably be a good thing to try.

Does not seem to take a lot of time, and over the long run it will probably work for you.

After my subscription ran out then I started getting calls, I didn't answer for a while, but they were very persisted and caught me at the right time and I answered, they said they have live coaching and I thought they said trades you could watch. (I maybe wrong about this, and just wanted it hear it).

First they wanted me to sign up for the $300 package, (or $309.00 something like that), I said no and they said they have a $159 package. It was for 7 months of something, and then 1 month of the coaching...

So I re-signed up.

I called my coach and he talked to me for about 15 minutes about how to use the site, said I should watch some videos and take some of the test... After I told him I have been trading for 20 years.

This was probably this first mistake, anyway... I took the tests and they had some
stuff like this:

Preferential Bias - distorted their view to support their trade.

Prospect Theory - also known as loss aversion theory, is the idea that people do not equally equate a $1,000 loss and a $1,000 gain.
According the the theory. people assign more weight the to losses than they do to gains because they want to avoid pain more.

Disposition Effect predisposition toward get-evenitis, because people dislike incurring losses much more than they enjoy making gains and are willing to gamble in the domain of losses, they will hold on to stocks that have lost value,
and are eager to sell stocks that have risen in value. This is referred to as the disposition effect.

Myopic Loss Aversion MLA - is a lack of foresight or discernment, a narrow view of something, Aversion is the avoidance of anything associated with an unpleasant or painful stimulus.

So this is great if you want some background on trading theory (and you don't know how to use google). Then you take a test, so I pass 3 or 4 of the test and then the coach told me to go to the "Investing Foundation Trading Rooms" well these cost extra.

I don't really know how much extra, a couple hundred bucks a month probably.

But at this point I am really feeling like I am totally wasting my time, and the live coaching turned out to be someone who will hold you hand and walk you through using their web site. This is basically worthless to me. If you don't know how to use a computer then you might get a lot out of this.

I am sure they could get you up and running no matter how long it took you to find their website, and help you turn on your computer.

So I call them today about canceling my subscription since it's not doing anything for me, and I really had a big mis-understanding about what I was signing up for.

The guy tried really hard to talk me into the $300+ package, but I just kept thinking that would be like adding money to a loser. Ask any good trader, do you add money to a loser?

Then when he saw I wasn't going for the $300 door, he decided to let me switch my 1 month of coaching for a month of "trading room" I was on the fence if I even want to spend any more time at this site even if it is for free.

But I let him talk me into it so I could see what the trading room thing was, if it is as basic as the coaching then I will know in a few minutes probably and will be out of there.

That was this morning and now the markets are getting ready to close and they still have not updated my account, so I still don't know what is behind there trading rooms.

But I have until Friday to cancel and get my money back and today is only Tuesday, so hopefully by tomorrow I can get a look at it.