Are you looking for a review of a trading community called True Trader? Is Dan Parker a scam? Can you really make money in the stock market by following Dan Parker’s advice?
There are so many gurus claiming to help people make money, but after reviewing hundreds of similar programs, I found that most are scams. Only the gurus themselves are making money, but not the students.
So in the past week, I have done thorough research about Dan Parker and his True Trader platform. So I can tell you everything you want to know.
As a disclaimer, I’m not affiliated with True Trader or Dan Parker, which means I’m not paid to write this review. So you can be sure that my opinions are unbiased.
At the end of this review, I’ll also tell you a much better alternative that has enabled me to make a 4-5 figure passive income every month.
Below is what I’ll cover in this True Trade review.
Who is Dan Parker?
Dan Parker is the founder of True Trader.
Let me tell you some background information about Dan Parker. I have searched for Dan Parker’s information, but there is very little information about him.
I cannot find his Facebook page, Instagram and LinkedIn. I cannot see Dan Parker featured by brokers or publications.
So you may ask why you should trust him or learn from him? Is he really a successful trader?
Dan Parker claims to share the trading strategies that are used by most professional traders. He claims to teach you where to enter and exit trades to make money.
But I cannot verify any of Dan Parker’s bold claims. It raises a red flag to me.
What is True Trader?
True Trader is a day-trading community.
When you join True Trader, you will learn from Dan Parker how to trade. You will see Dan Parker trade live every morning.
True Trader claims to be a platform for dedicated and focused traders to make money together in the stock market.
Dan Parker and other gurus on the platforms all aim to identify the Key Inflection Points and make pre-market trade plans. Dan Parker will go live with his Long/Short strategy every morning when the market opens.
Dan Parker’s strategy is quite simple. He focuses on two or three stocks that he predicts to have strong corrections when the market opens. He will enter the stock at this movement and sell it when the price corrects.
All happens within a few minutes or seconds. It’s very fast.
True Trader is not a platform for beginners. You need to know the trading basics in order to follow the fast trading signals.
Here’s a summary of what you will get when you join True Trader:
You will learn how to do trading by going through hours of content. There are three courses that you can get access to.
The course content is quite advanced and not beginner-friendly. You will learn the pre-market analysis, custom trading files, and resistance zones.
The Strategy Masterclass will teach you Dan Parker’s scalping techniques. It is a technique that Dan Parker claims to make a profit ranging from 2% to 5%.
Moreover, Dan Parker will teach you his proprietary scanner to pick out the right stocks. You will also get a trading plan 15 minutes before the market opens, but some members said it is a joke to get it 15 mins ahead of time.
On True trader, you will be asked to use ThinkorSwim to trade. It is the default platform to trade. This electronic trading platform is created by Ameritrade. There is a tutorial to teach you how to use it for day trading.
You can do live chat with other members in the chat rooms. You can get advice from others. However, it’s very chaotic as many people are shouting at the same time. You will have no idea who to follow and ignore.
There are some short tutorials in addition to the courses. Again the content is not beginner-friendly. For example, you will learn how to set up your charts such as the candlestick chart to help identify the highest, lowest and closing prices.
Trading Psychology Coach
Dan Parker hired a coach called Kim Ann Curtin to teach members the common psychological blocks day traders have.
Here are the four topics that she talks about:
- Ego/Inner Gremlins
- Fear of Failure/Greed
- FOMO/Comfort With Loss
- Discipline/Lack of Proven Edge
True Trader Pricing
True Trader is very expensive indeed. It costs $395 per month. If you choose the 3-month package, you will have to pay $230 per month.
The yearly plan is the cheapest, but still costs $99 per month.
It seems that Dan Parker wants to force you to choose the yearly plan, which is much cheaper.
Usually bad programs or platforms like using these pricing tactics because they know their product is bad and cannot retain members. So they want to lure people into the yearly plan.
This pricing tactic should raise a red flag that you must be very careful before you go for the yearly plan. There is no guarantee that you will get the money back after you pay.
Pros and Cons of True Trader
Let me give you a summary of the pros and cons of True Trader by Dan Parker:
- The platform offers quite a lot of content and features, although they might not help you make money at the end of the day.
- There no verified success stories of students
- You have to make a huge investment into the platform before making money
- Dan Parker doesn’t have a verified track record in trading
- The content is not newbie friendly
- The membership fee is very expensive
Is True Trader a Scam?
I cannot say True Trader by Dan Parker is a scam. At least, I don’t have evidence to prove this.
It’s true that Dan Parker does deliver service like the chatroom, scanner and courses.
However, it doesn’t mean I recommend it.
Actually, when I researched customer reviews, I found so many negative comments about True Trader. Many people are requesting a refund and said it is a scam.
One thing that should raise a red flag is that Dan Parker never shows his profit and loss to members. Some members found that Dan Parker actually had a pretty poor performance in trading. He doesn’t make money on a regular basis, but loses money most of the time.
I think this is the reason why he devotes so much time and effort to create this platform True Trader. If he can make so much money by trading, he would just focus on trading.
So I think Dan Parker makes most of his money from selling the membership of True Trader instead of trading.
Since there are many red flags about True Trader and Dan Parker, I don’t recommend anyone to join True Trader.
Instead, I have a better recommendation for you to make more passive income.
Building a digital asset is the trend. I have joined a platform that has enabled me to make a 4-5 figure monthly passive income in less than a year.
It’s a very legit and sustainable online business that anyone can start today.
If you want to know more about it, let me tell you in detail in the next section.
Is There Any Better Alternative to True Trader To Make Passive Income?
Although investing is one of the most popular ways to grow your wealth and give you some passive income, the stock is unpredictable.
Even if you have the tips or insights from the so-called experts like Dan Parker, it doesn’t guarantee you will win in the stock market.
Only God knows when the stock price will rise or plunge. You may be able to make some money in a few attempts, but lose it all in the other attempts.
So if you really want to make a stable and secure stream of passive income, I would suggest you start an affiliate marketing business online instead.
Affiliate Marketing is perfect for anyone who is new to online business.
In fact, of all the online business models I’ve tried, affiliate marketing is the easiest and most rewarding so far.
In affiliate marketing, you can actually run your business almost with zero cost and achieve a steady and sustainable passive income to pay for your bills. You don’t need any initial capital and can even do it as a side hustle.
And if you really want to learn affiliate marketing and build a business from scratch, I’d recommend you to get started with the most reputable platform for affiliate marketing: Wealthy Affiliate.
Wealthy Affiliate is an all-in-one platform for building your affiliate marketing business from scratch. It offers you a free account (including a free website) with comprehensive training on SEO (free traffic methods), which enables you to get started with affiliate marketing right away without paying a penny.
But How Much Can You Earn with Wealthy Affiliate ?
A 21-year old student from Wealthy Affiliate was able to earn $7,395 in just 1 week, which means he made more than $1k a day…all while using free traffic methods.
Wealthy Affiliate has existed for 15 years and there are many success stories in the past decade.
To give you more examples, here are some of the other inspiring success stories of Wealthy Affiliate members.
Where to Join Wealthy Affiliate?
Wealthy Affiliate has a very simple pricing scheme. It has a free and premium membership.
If you want to feel about Wealthy Affiliate, you can sign up for the free starter membership here (no credit card required). You can select to be a free member with no time limit.
And as a starter member, you can get instant access to the community, live chat, over 500 training modules, 2 classrooms, networking, commenting, 1 free website, access to the keyword tool.
You can enjoy all these values without paying a penny.
So I strongly recommend you to register a free account and see it yourself.