October 4, 2023

'If you don’t have $5,000 in your account, then you can skip this ad''. Scott Bauer explains that you need at least $5k to make this strategy work. Scott and his team only trade 5 to 7 stocks, and there's nothing special about them. The difference maker is a repeatable system they use to trade stocks and options. Looking for a fast-track method to learn the trading biz? Scott says he unlocked a proven system, and he’ll share everything in Prosper Trading Academy. 

Prosper Trading Academy is a complete platform for learning how to trade. It’s for beginners and experienced traders who want to make a consistent income while minimizing trading risks. The five main programs offered by the academy are: options volatility, penny stocks, short-term options, momentum stocks, and foundation room.  Short courses cost $499.99 and full courses cost $4,995. No refund in any of the programs and courses. You can also join Scott Bauer’s Power Picks Webinar for free. Pre-registration is required because slots are limited. Aside from training, they also offer mentorship, trade alert subscriptions, high-potential trade signals, and mastery programs. Students learn 

the basics of options trading, 

trading in real scenarios, 

trading psychology and, 

strategies for entering and exiting markets. 

Prosper Trading Academy is headed by its CEO, Scott Bauer. He has been an options trader for 30 years and an expert market analyst. Scott graduated from the Illinois Business School with honors. The highlight of his career is his appointment as the vice president of Goldman, Sachs, and Co’s equities division. He also traded for the Chicago Board Options Exchange (CBOE) and the Chicago Mercantile Exchange (CME). Scott was the only trader to trade Amazon options back then. With a strong background and experience, Scott is more than qualified to mentor. He built a powerhouse of coaches by bringing other experts to Prosper Trading Academy. Scott Bauer teaches options volatility, Charlie Moon mentors penny and momentum stocks, and Mike Shorr coaches short-term options. Charlie Lewis heads to the foundation room. 

Prosper Trading Academy and Options Trading 

Prosper Trading Academy offers great courses and programs overall. It’s 4.5 star rated in Trustpilot out of 263 reviews given. It also ranks 85 out of 132 under the best companies category and ranks 92 out of 140 as an educational institution. There are success stories from students. James Pontak claims to have gained $5k on his first week under the mentorship of Mike Shorr. Robert Peters says he’s been a member since 2019 and is very satisfied with the coaching and support he’s received from the Prosper Trading Academy team. 

Prosper Trading Academy is better than other trading courses because of its roster of world-class trading coaches. The coaches have different expertise and are active traders themselves. They can quickly spot changes in trends and apply new strategies in their mentorship. Scott has built a good reputation in the industry as a trader for 3 decades.

What I don't like, though, is that they're over-promising results. Trading is not as easy as what Scott claims it to be. Even a proven, repeatable system cannot make anyone rich. Scott Bauer said it himself: trading is challenging, and it is not for everybody. There are expectations from students who wish to join the academy (more of it in the code of conduct). I also find it interesting that Scott and other mentors are not registered with the US SEC. They can only teach trading strategies, not give professional financial and investment advice. It's odd that they're encouraging people to pay $4,995 to learn from them, but go on an ad to say they're not licensed to give financial advice. Isn't it ironic? 

Aside from that, the trading biz is unstable, unpredictable, and extremely risky. 80% of traders fail. Beginners with zero trading knowledge and experience will obviously struggle to keep up. The University of California found that 40% of new traders quit after just a month. And, only 13% make consistent profits over a 6-month period. In fact, the Financial Industry Regulatory Authority (FINRA) reports that 72% of traders encounter a financial loss

Even the best training from world-class coaches cannot guarantee consistent profits. Successful traders are developed over time through experience. They learn the biz, study the market, and create a trading plan to control risks. Watching an online course will not equip you enough for the tough trading world. Overall, Prosper Trading Academy has the potential to develop good traders. But it's a huge gamble. You need at least $5K for the full course, another $5K to invest, and lots of patience to learn to trade. ROI is not guaranteed here. 

About the Author Pamela Salvana

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