Trade Stalker with Mike Reed
Trade Stalker is a ‘live’ day trading experience, owned and operated by Mike Reed of Fort Wayne, Indiana. The company is offering various futures day trading educational products.
Mike Reed seems to be a nice and genuine person. Confined to a wheelchair, he elicits compassion and sympathy. He is doing the best he can.
However, this is about the best I can say about Mike Reed. His trading product and service is terrible. He has no track record of ever trading successfully, refuses to share a track record, or disclose individual trading performance. Yet, he expects the public to fork over $3k for a trading educational product based upon unproven and unverifiable concepts and theories.
Thanks for reading today’s review of Trade Stalker
What is Trade Stalker? The company is a one person, futures trading educational business owned and operated by a person named Mike Reed. The Trade Stalker website has an official address listed as either PO Box 9783, Fort Wayne, Indiana or 9705 Muldoon Road, Fort Wayne, Indiana.
On December 18, 2017, we received a request for review on our sister website: Trader.Help.
Trade Stalker is offering the following products and services:
- ‘Reed The Greed’ CD Training Course $795, one-time fee.
- Trading Boot Camp $3,000: a webinar only, one-week educational experience
- ‘RBI’ nightly market commentary $97 per month.
Trade Stalker is currently occupying the following social media profiles:
A quick perusal of the social media profiles reveals that Mike Reed is very active with social media. In fact, he produces a ‘market recap’ video nearly every single day. I know from managing the TradingSchools.Org blog that consistently producing content is a real challenge. But Mike is very consistent and keeps to task. That’s commendable and speaks to his devotion and dedication.
According to Archive.Org, the TradeStalker.com website originated back in 2005. So we are talking 13 years! This is an incredible amount of time for a trading educator. Usually, these sorts of businesses last 1-2 years and then disappear. So this is a real surprise.
Online reputation of Trade Stalker
Considering that Trade Stalker has been around for such a long time, I would expect to see plenty of complaints, gripes, and chatter. However, to my surprise…there is absolutely nothing negative written about Mike Reed of Trade Stalker.
Whether fair or not, you would expect to see something. But hardly a negative comment exists.
In fact, Mike Reed took the added step of becoming an accredited business with the Better Business Bureau way back in 2007.
All things considered, Mike Reed has an online reputation devoid of hardly any negativity. Paradoxically, he has very little positive material written about him. Curious.
He is just sort of ‘there.’
Contacting Mike Reed of Trade Stalker
On December 21, 2017 we began a series of emails to Mike. What we really wanted to know-does he have a verifiable track record? Does he have an account statement? It would seem that surely, over the past 12 years, there must something that we can verify regarding past performance history.
We explained that we were interested in investing $3,000 for the ‘boot camp’ but we needed to see some sort of proof that he is actually trading. And if so, does he have a track record of trades in which to judge his successes or failures?
Mike responded that he did not have a track record. Nor did he have an account statement that he could share. He explained in an email, “having a track record has no correlation with teaching what I do during the trading camp.” On the contrary, having a verifiable track record is the most effective variable in selecting a trading educator. Mike Reed has no track record. At least that he would be willing to share.
If I were hiring a lawyer, or a dentist, or a landscaper…having some sort of history of success helps a customer feel that they are dealing with a competent individual. Apparently, Mike Reed disagrees.
Why no ‘bad reputation?’
During our review process, we discovered that many years ago, Mike suffered from a diving accident and is now confined to a wheelchair. In fact, he uses a software program to dictate what he is speaking and then converts his voice into written words.
These dictated words form the basis of his nightly RBI email reports.
Every single day, he sends out a lengthy RBI report. Each report usually encompasses 800-1000 written words. They are quite lengthy. If a person were to hand type these daily reports, it would be quite the task.
Are the RBI reports of any value? Essentially, the reports are his interpretation of the daily market action. He is simply describing what has already happened. Hindsight is a beautiful thing, you are never wrong.
Are the ‘RBI’ nightly reports and day trading ‘chat room’ of any value?
After reading the nightly reports, in my opinion, they were of little value. About as useful as a financial ‘talking head’ that you might find on CNBC or Fox Business.
Additionally, Mike will ‘live’ chat his thoughts via a message board. These ‘live’ chats are 3 days each week and begin around 10:30 AM to 12:00 PM, CST. Once again, he is quite active in his daily commentary, and you can find a log of his thoughts here.
Typically, during the 90 minutes ‘live’ chat room, he will speak approximately 2000-2500 words.
Are there any specific trading recommendations contained within this ‘live’ trading room session? No. Everything is given as generalities like, “this needs to bounce before it might go higher.” Or, “if we test the resistance, then it could double top and that means it might go lower.”
I would describe it as financial soothsaying. Akin to a financial fortune teller, “your finances could possibly improve if you buy bitcoin last year.”
The following word soup was pulled from the ‘live’ chat room, see if you can make sense of what he is saying…
02 Jan 2018 09:42 am
Can someone please explain how this is useful trading advice? Sort of like, if drive your car to the red light, then prepare to go, but first stop and check to see if the light is still green. Once the light is green, make sure you didn’t already pass the light because it most assuredly will turn red at a later time.
Picking on the crippled guy
As I sat here, trying to figure out what to write about Trade Stalker and Mike Reed…I couldn’t help but imagine him stuck in a wheelchair. Not being able to move his hands and type out messages. Not being able to get up and go for a hike, or play baseball, or go fishing, or a do the things that we all take for granted.
And then I thought, do I really want to be a dick to this guy? Write a nasty review, which could affect his business? What if this little trading educational gig is his only source of income? What if this business is pretty much all he has? Do I really want to be an asshole and write a crappy review? I really did not. What kind of a mean-spirited jerk puts pen to paper and beats up a guy stuck in wheelchair? Nope, I did not giving enjoy giving Mike Reed a negative review. Not one bit.
Maybe this is why nobody else has written anything negative about Mike Reed, in all these years past? Maybe I totally wrong, and the guy is an awesome trader. But I doubt it.
The best traders are more than happy, and more than willing to unzip and whip out their awesome trading performance summaries.
The nature of markets
The financial markets are pretty amazing ecosystems. The market couldn’t care less about Mike Reed and his wheelchair. It only cares if he brings money to the table, and is he willing to wager upon his opinion.
The market doesn’t care if you are a transvestite that recently got out of prison. It will reward even the oddest or strange natured person. It requires only the willingness to wager.
The market doesn’t care if you are a child or an old man. It doesn’t care about your degree in chemical engineering, your experience as a prostitute, or your grandmothers’ feelings. It simply rewards the most cunning, it lavishes wealth upon those with the best foresight, the best research, the technological edge. The rest are just feelings, and the market has no room for your feelings. Nor does it have any owe you anything. It simply takes and gives.
I have often heard that “the markets are a cruel mistress.” The more I observe the markets, and the various players that interact, it is apparent that the markets are indeed a cruel mistress.
Thanks for reading. And Mike Reed, when you read this…I sincerely apologize if this review has hurt your feelings. Nobody with even a bit of humanity would enjoy writing a negative word about a person confined to a wheelchair. However, would you really want me to treat you any differently than anyone else?