I bought rocket trades when it first came out on a whim. It was a definite impulse purchase for me because I tend to be skeptical but the price seemed too good to pass up. I figured I would share my experience with Charlie Moon and his service to help you make a decision on whether this is worth it for you.
So here it is, the good, the bad, and the ugly.
I have my money in two buckets, long term retirement savings, and a shorter term trading account where I shoot for bigger gains. I started trading in the shorter term account a few years ago and wish I had access to a service like Rocket Trades back then since Charlie offers a killer watchlist to help people get up to speed. I typically keep around 25k in that trading account but sometimes I trade with more and sometimes I trade with less. I would have been way less overwhelmed as a new trader had I had this service because just knowing what to look for in the market can be overwhelming for a newbie.
My big take away which I can’t say enough though is value. This is not Charlie’s top tier service, but for the price, you wouldn’t expect it to be. However I was blown away with how much I got for my investment.
Rocket Trades Review:
Charlie’s sales pitch for Rocket Trades was pretty straightforward. The promise is you get access to his watchlist, but more importantly, four to five of Charlie’s best trading signals each month sent via email.
The price for the Watchlist and Trade Signals was $97 bucks a year which works out to less than $2 per trade signal.
He also lists previous signals and watchlists which is quite convenient as you can see below:
You can take as many or as few of the trades as you like, and you can go as big as you want on each trade. I figured it was worth a shot because if even a single one of his recommendations was good, I would earn my money back and then some.
In reality I was blown away with how much Charlie over delivered. I expected the watch list to be just a list of names, but in reality Charlie provides a ton of rationale that is clearly backed up by high end analysis and research.
The same attention to detail and research quality applied to the signals themselves.
Never once did I feel like I was throwing darts. It was obvious to me why Charlie had conviction behind each of his signals and everything was backed up with a methodical thought process.
So what was my favorite part of this service?
Honestly, I work during the day and can’t stare at a screen. Being able to place trades with conviction without having to put in the hours of research is a great feeling.
What would I change?
I would LOVE if Charlie put out more trade signals. I guess it makes sense that he only sends out his highest conviction picks but after a few good ones I found myself checking my phone during the day to see if there were any updates.
The other problem is that if you miss the alert… you miss the alert. Markets move fast so a few times I had to wait for the market to pull back after missing an entry. Charlie has been good about reminding me to stay disciplined as well.
The Bottom Line:
Only buy a stock picking service if it offers value.
Rocket Trades costs less than 100 bucks a year so it is kind of a no brainer.
I mean… Netflix is more expensive than Rocket Trades… and I have never made a DIME sitting on my couch watching Netflix.
Even though I was super skeptical at first, I made a point to do my research on Charlie and Prosper Trading Academy. Nobody is perfect but I was impressed with the quality of the reviews on TrustPilot. It helps that the quality of the trade signals has been impressive too and I have been considering upgrading my membership to one of Charlie’s higher tier services.
Frankly though, at $97 this one is a no brainer.
Updated October 11, 2020
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