Wed. Sep 30th, 2020

My Money Magick

The Money, Tax and Law Underground

iMarketsLive is a better option than Tradera but I still left iMarketsLive… here’s why

3 min read

Quick Summary

You have 7 days to try out iMarketsLive, so dont take my word for it. Just pay with credit card and get your bread back.

iMLTradera
Live Education100Sunday session with master trainer. And live trading sessions during the week with master traders Starting at 2:30am and continuing all the way to 10pm at night.
Offline education105IML has 40+ education modules on forex. Additional packages exist for cryptocurrency and high-frequency trading. Tradera has forex education only, and it was offline during my month with them.
Strategies50+1The Tradera trader does not explain why he makes his picks. On every live session, they explain exactly what factors led to their choices.
Traders20+1
Mindset training10Mindset training on Thursday with Bob Proctor, a world-reknowned coach on productivity. FREE with membership.
Cost175 or 275/mo99/moIf you want to save money, go ahead and pick the mongrel. I’ll pay for the racehorse and the overflowing cup of benefits.
Cryptoyesno8-figure earner supplies trading ideas on crypto.
Metatrader Tools20+NONE
Company ageFounded in 1998 (22 years old)Founded in 2020 (still in diapers).Most new companies dont last. I cant imagine anyone taking a test drive at both companies and remaining with Tradera. As people see the limitations in the program, they will go with the seasoned vet in forex meets MLM.
PositivityOff the chartsSuper goodDerek Conway (the trader for Tradera) is a super-open guy who is easy to talk to and the people in the community are positive. But “positive” is an understatement for the members of iMarketsLive. You would swear everyone is snorting cocaine they are so positive – in the chatrooms, on Telegram, instagram, everywhere.
Trading Idea Sources10+1There are numerous signals for you to follow depending on which markets, trading styles, and master traders that you want to follow.

Any drawbacks to IML?

If there is any drawback to IML, it is that you get a roadside zoo of things to choose from. Tradera is like Zen and IML is like Tibetan Buddhism… in Zen, you dress in black and do one simple thing: follow the breath. In Tibetan Buddhism, you have all these colors of dress, all these wall paintings, this ritual, that ritual, this chant, etc, etc. It really can get bewildering because you get SO MUCH for your money.

There are over 40 professional traders and tons of websites and tons of events… you get WAY more for your money at iml and frankly they have so much stuff, it is very painful to keep track of it.

But that’s not why I left. I left for 2 reasons: lack of automation, cheaper options

I found a great person to follow at iMarketsLive:

but the signals were written on a tradingview chart as was rapidly going over why he chose them and were very time sensitive and needed to be entered as he was talking… the pressure of time could lead to errors in typing things in and getting the SL and TP right. That’s what lack of automation does for you.

Also, IML is very pricey for a home business, $175 minimum per month and $235 to start. So if you arent making that back, you feel frustrated.

But the nice thing is: with a person like Timur Tradez, you can start with a $400 account and compound it up to 6 figures quickly if you correctly enter his trades. Or check out this killer success story:

So success is definitely there in IML but the lack of automation and the availability of automated cheaper options makes it not appealing at this time.

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