True Trader Review
Scalping is the name of the game, according to True Trader’s foreman, Dan Parker. True Trader is an online trading program that promises a way out of the soul-sucking 9-to-5 job. Every day in the program, students learn directly from Dan as they watch him trade live when markets open, specifically
- strategies for entering and exiting financial markets,
- when and where to act on a trade, and
- when to sit and wait (fighting the urge of impatience).
True Trader Essentials is $195 for the Go Monthly package and $1,495 for the Go Yearly access. Both package options include the masterclass, options course, primer sessions, trading psychology sessions, risk management & expectancy sessions, beginner’s webinar, and exclusive access to True Trader’s library of high-impact training (over 500 hours worth of content). They have a partial refund policy for the 12-month plan calculated based on the number of months the member was active on the platform. No refund for single-month plans.
Dan works with other gurus on the platform to pinpoint Key Inflection Points (KIP) and gives members a trading plan 15 minutes before financial markets open. But, here’s the catch: Dan and the other gurus never share how much they profit and only show the percentage of their gains and losses (they promise to go above 2% on gains). Pretty strange for a trading platform. This shouldn’t be an issue for someone who regularly wins on trades. What’s more strange is that there’s almost nothing on Dan online. No Facebook page, no Instagram, or LinkedIn. Nothing. It’s a mystery how a prominent trader can live an almost invisible life.
True Trader and the Scalping Business Model
True Trader is a good course for learning how to trade. It’s a Trustpilot-verified company with a 4.5-star rating out of 234 reviews, and it’s said to have over 2,000 members as of writing. But you should have at least $20-$25K to invest in scalping and have above-average knowledge in trading to follow Dan’s calls in his live sessions.
Since True Traders is an online-based course, I’m skeptical if
- Beginners can follow the fast-paced trades without a solid foundation,
- Dan and his team of gurus are indeed making money from trading, and
- It’s as profitable as Dan claims it to be (they never reveal earnings).
The scalping method is not new to the trading world. It’s as old as the stock market itself. Scalping is the arbitrage on price gaps caused by a bid-ask spread or market manipulation. True Trader uses this business model to make a quick profit in trading. The trader takes advantage of changes in currency prices to profit by reselling. It’s the shortest form of trading because it happens within minutes or even seconds. However, the lack of info and transparency on how this ‘winning’ system was developed raises a red flag.
Dan says he only focuses on two or three stocks that have a good correction following a good or bad start. The ultimate goal is to enter the market at the exact moment the stock price fluctuates. And then, he sells it when the price corrects within minutes (sometimes seconds), and bags the cash. It’s proven to make money, but what’s suspicious is that Dan and his team never reveal their earnings. Makes you question if they’re really making money or if it’s all just an illusion.
There are lots of uncertainties in trading. And, if you’re a beginner, your best attempt to win is to piggyback on Dan’s strategy as you learn the ropes of scalping and trading. But, even if you follow Dan’s every move, there’s no 100% guarantee that you win in every trade.
Building and renting out digital properties is a more sensible business model. It also has advantages you can’t get with trading. Compared to trading, it’s easier to learn and you don’t have to piggyback on someone else’s strategies.
Despite some cons, True Trader is an affordable and comprehensive trading course. But it’s too complex for a beginner to master in a few weeks or months. But if you’re a risk-taker and have the money to spend, you can still give this a try, but be open to the possibility of losing more than winning.