Are you on the hunt for an honest review of True Trader and wondering if Dan Parker is a scam artist? Look no further!
As someone who’s been around the block in the online business world, I’ve checked out countless trading programs and can say with confidence that most are just scams. The supposed gurus are the only ones raking in the cash, while their students are left empty-handed.
But fear not, my friend! I’m here to give you the lowdown on True Trader and Dan Parker, completely unbiased as I have no affiliation with them.
Plus, I’ll even reveal a better alternative that’s helped me generate a full-time passive income online.
Table of Contents
What is True Trader?
True Trader is a day-trading community where traders can learn from Dan Parker, an experienced trader who shares his expertise through live trading sessions every morning. True Trader aims to provide a platform for dedicated and focused traders to make money together in the stock market.
The gurus on the platform, including Dan Parker, focus on identifying Key Inflection Points and creating pre-market trade plans. Dan Parker executes his Long/Short strategy every morning when the market opens, and you can see him trade live.
Dan Parker’s trading strategy is simple yet effective. He concentrates on two or three stocks that he predicts will experience significant corrections when the market opens. He enters the stock at that time and sells it when the price corrects, which happens within a few seconds or minutes.
- Learn more about stock trading
Who is Dan Parker?
Dan Parker is the founder of True Trader, a company that claims to teach people how to trade using strategies used by professional traders. However, there isn’t much information about him available online. You won’t find his Facebook page, Instagram, or LinkedIn, and he’s not featured in broker or publication profiles.
So, what’s the deal with Dan Parker, and should you trust him as a trader? Well, that’s a tough question to answer because there’s little information to verify his claims.
Dan Parker says he can teach you how to make money by showing you when and where to enter and exit trades, but there’s no way to confirm his success.
Without more information, it’s difficult to say whether Dan Parker is a successful trader or not. It’s important to remember that just because someone claims to be a professional trader doesn’t necessarily mean they are one.
How is the training structured?
True Trader is a platform that provides trading education and resources to its members. Here’s what you can expect from their training program:
True Trader offers three courses to teach you trading strategies, pre-market analysis, and how to use ThinkorSwim. The courses are not beginner-friendly, but they provide advanced content to help you improve your skills.
Dan Parker’s Strategy Masterclass teaches his proprietary scalping technique that claims to make a profit ranging from 2% to 5%. You’ll also get a trading plan 15 minutes before the market opens, but some members have found it insufficient.
True Trader offers live chat rooms where you can interact with other members and get trading advice. However, the chat rooms can be chaotic, with many people shouting at the same time. It can be challenging to decide which advice to follow and ignore.
In addition to the courses, True Trader offers short tutorials on how to set up your charts and candlestick charts to identify the highest, lowest, and closing prices. However, the tutorials are not beginner-friendly.
Trading Psychology Coach
True Trader has hired a coach named Kim Ann Curtin to teach members about the common psychological blocks day traders face. Kim talks about four topics, including ego/inner gremlins, fear of failure/greed, FOMO/comfort with loss, and discipline/lack of proven edge.
Who is True Trader for?
True Trader is not suitable for beginners. You must have a basic understanding of trading to follow the fast trading signals.
So, if you’re an experienced trader looking for a community to trade with and learn from, True Trader might be the right platform for you.
How much does True Trader cost?
The monthly subscription for True Trader is $395, which can be quite expensive. However, if you opt for the 3-month package, the cost per month drops to $230, which can be more manageable for some traders.
If you’re looking for a longer commitment, the yearly plan is the cheapest, at $99 per month. This may seem like a great deal, but it’s important to do your research before committing to a full year.
Some people may feel that Dan Parker, the founder of True Trader, is trying to force customers to choose the yearly plan by offering it at a much lower rate. However, it’s important to keep in mind that pricing strategies like this are common in the industry, and not necessarily an indicator of the quality of the product.
That being said, it’s always a good idea to be cautious when signing up for any subscription service. Make sure to read reviews, research the company, and understand their refund policy before committing to a long-term plan.
Praise for True Trader
1. Lots of content and features
True Trader provides a wealth of resources and features to help you improve your trading skills and knowledge. While these may not necessarily guarantee success, they can be valuable tools in your trading toolkit.
Criticism of True Trader
1. No verified success stories
One major drawback of True Trader is the lack of verified success stories from students who have used the platform to achieve significant gains. Without such evidence, it can be difficult to gauge the platform’s effectiveness.
2. High investment required
To make money on the platform, you’ll need to invest a significant amount of money upfront. This can be a daunting prospect, especially if you’re just starting out in trading.
3. Dan Parker’s track record
Although he is the creator of True Trader, Dan Parker does not have a verified track record in trading. This can make it hard to assess his credibility and the efficacy of his platform.
4. Not newbie-friendly
The platform’s content can be quite complex and technical, which can be challenging for newcomers to trading. If you’re just starting out, you may find the learning curve steep.
5. Expensive membership fee
Finally, True Trader’s membership fee is quite steep, which can be a barrier to entry for many people. Before signing up, it’s important to carefully consider whether the platform is a good fit for your needs and budget.
Is True Trader a scam?
I won’t call True Trader a scam, but I do have some concerns. While Dan Parker does offer services like a chatroom, scanner, and courses, there are many negative reviews and refund requests from customers.
One thing that should raise a red flag is that Dan Parker never shows his profit and loss to members. Some members have discovered that Dan Parker actually has a poor performance in trading and loses money most of the time. This may be the reason why he devotes so much time and effort to create True Trader. If he could make a lot of money by trading, he would just focus on that instead.
It’s possible that Dan Parker makes most of his money from selling True Trader memberships rather than trading. Due to the red flags surrounding True Trader and Dan Parker, I don’t recommend anyone to join True Trader.
If you’re looking for a better recommendation to make passive income, building a digital asset is a great option. I personally have joined a legitimate and sustainable online business platform that has enabled me to make a 4-5 figure monthly passive income in less than a year.
If you’re interested in learning more about this opportunity, I’d be happy to share the details with you in the next section.
Is there a better way to make money online?
Although investing is one of the most popular ways to grow your wealth and give you some passive income, the stock is unpredictable.
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.
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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.
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But How Much Can You Earn with Wealthy Affiliate?
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Where to Join Wealthy Affiliate?
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