Review of Trade with Mr. X .com

I've been a member of www.tradewithmrx.com for several months now and I was one of his earliest followers on twitter.  I was very impressed by first the quality of his tweets and then his free youtube videos and I encouraged other traders to check them out.

I joined his paid site the second month it came out and I've gotten a ton of emails / twitter messages from traders asking me whether I thought it was worth the $200 a month.  For that reason, I thought it would be helpful to provide a review of the service and my experience with it.

Initial Skepticism  

Experienced traders are naturally suspicious of big claims.  We've all seen so many charlatans pop up at every bull market with bold claims.  Despite the quality of the videos and tweets, by nature, I'm skeptical of big claims and  displays of what I call "trader porn" e.g.  big houses and huge trades--  Tim Sykes, Jason Bond type characters.  That said, the initial videos were excellent and thought provoking so I brought them to the attention of some trader friends in the spring of last year-- you can see I expressed my skepticism in doing so back in April 2017:

"@[] did you watch the Mr. X videos I posted?  https://www.youtube.com/watch?v=D-54yBOmCMw He claims to have made a 100 Mill as a hedge fund manger . Obviously, internet claims are suspect, but it is fun to watch him work, he is in the "right stocks." He's repeatedly been saying he's 200% long right now with 100% in TSLA. He'll only be in 5 to 6 stocks at once."

As another trader recently asked for my opinion put it:

"Now I’ve been around the block for some time(35 years) as a trader and in the markets, so like @[], my radar goes off when I see an anonymous promoter in shades, with a black shirt with one too many buttons unbuttoned, producing YouTube videos from a glitzy Vegas condo and touting that he’s one of the 1% who has figured out the mysteries of the market.  Add to that the fact that he was reportedly a successful hedge fund trader and has a large personal bank roll, but now he is selling retail investment services.

...Having said that, I’ve watched his public You Tube videos and he seems earnest and open. The trading information and market observations described in the public videos seem congruent with my beliefs about and experience with price action and volume. So I have been intrigued to join his site, if just for a month or two, to have access to more of his hopefully in depth videos on supply and demand and institutional sponsorship, but I have been hesitant to do so."

After being a member of his site, I can honestly say that Mr. X. is the real deal. This is some of the best education a trader can get in the market.. and I say that as someone who spent a year at the CBOE and had formal training in trading.

I think a lot of the skepticism of Mr. X's is because some traders have a misimpression about what Mr. X was actually saying and incorrectly interpreting tweets as believing that Mr. X's was suggesting that he always right. Quite the contrary, Mr. X is wrong a lot and he will freely admit that. The best traders in the world are-- they are just better at realizing when they wrong and correct much quicker than the rest of us.  Mr. X cuts his losses  and reverses his mistakes very quickly.

But he Made So Much Sense

Despite my initial skepticism, Mr. X's approach was very logical and made sense to me.  I was probably 65% of the way there in my own thinking and I had developed setups that would put me in the same stocks and even with similar entry points.  However, I didn't really understand the market forces which caused my setups to work sometimes in a big ways and other times not at all.  Mr. X explained it perfectly with the concept of maturity.  You can see how it worked out very well in the trades he shared on his public twitter feed such as AAOI $60s to $100 in just a couple of weeks and why he sold at the highs at that time.

The Tradewith Mr. X Service

At $200 a month the price is higher than most services directed towards retail traders.  Mr. X has stated that the price is a filter to steer away less serious traders so that he would have the ability to give specific and personal feed back to his members.

 My initial thought was that I would join to check it out and figured that $200, at worst, was worth it to watch the 10 + hours of the crash course videos.

I'm pleased to say the service has exceeded my expectations in every way.

What you Get

In addition to the crash course videos there is a library of market cycles and historic winners.

Library:

In these sections, Mr. X explains how the evidence of supply and demand would have allowed us to buy, hold, and sell the stocks.  I personally do a ton of chart research in historical winning stocks and love the library.  X typically covers 1 or 2 stocks a week.

He also has an "Advance" selection where he covers other tactics such as how to identify and trade shakeouts, gaps and other material that is extremely helpful.

Watchlist

Every week Mr. X updates a watch list A and a watch list B.  In all honesty, most experienced growth oriented traders will have the many of the same stocks on their watchlist.  The big difference is how he analyzes the watch list and points out all the fine details of the stock where the danger points are, how to trade it, where it could pull back and still look normal.

Portfolio
Mr. X lists his positions as well as the % of his portfolio each one holds. After reading everything thing there is to read on trading and swing trading, this was a game changer how someone could hold some positions so large with such conviction. ... and then if it didn't act preciselylike it should cut it without a second of hesitation.

Trader Alerts

Mr. X has a private twitter feed which member get alerts when he enters or sells a position.  These alerts are timely as he will often indicate before the market is opening that he plans to buy XYZ stock at the open.  In other words, he is not front running an alert to move a stock like some other services do.  Moreover, the stocks that X is trading are not the type of stocks that our buying will move.  Rather they tend to have large floats with institutional support and not some low float garbage.

After he takes a trade, X will usually put up a video of the reasons why he took the trade and the fine points of the chart that most traders overlook.

Emails

Mr. X invites member questions about stocks and I have pretty regularly taken advantage of that invitation. I have always gotten prompt and detailed responses to my questions.

What it Tradewithmrx.com is and is Not

Trade with Mr. X is not a stock picking service where he runs some scans and calls out xzy stock is breaking out.  There are 100s of such services out there but I doubt any of those traders have much conviction in their trades.  I've seen X go up to 70% of his account in a single stock but explain in excruciating detail how he will manage the risk.  I recognize those types of numbers will cause most retail traders's heads to spin.  This not  a swing trading service.  I've seen him take position and cut it because for 10% gains the next day because of risk management and essentially toss the trade aside when other services are publicly bragging about nailing an 8% gain in the same stock.

Trade with Mr. X is an educational service that is aimed to teach us to be great traders.  The service is directed at getting 100% gains in stocks.  I knew that before I joined, what I did not realize was how much work goes into hitting the right entry.  I've seen Mr. X go after the same stock 5 or 6 times to get an entry right at the boiling point.  He did it with SQ-- which he took down nearly a 100% gain on a large position.One member had over 300% gains last year so its working.  I personally did about 25% in the two months I've been a member despite this being a pretty rocky period in the market.

Conclusion

I highly recommend the service.   Despite the higher than average price tag, it delivers more value than other services.  Tradewith Mr. X has improved my anywise and my eye for charts has gotten much better, I've improved my mental game, and I'm hitting the long ball.