If you’re someone who’s interested in stock and binary options trading, you may have come across Scott Bauer. He’s been in the trading game for over 30 years and has made a name for himself through his training sessions and recommendations.
But what makes him so special? That’s what we’re going to find out in this review. We’ll take a look at Scott Bauer’s background as a trader and determine whether or not his Prosper Trading Academy program is a legitimate opportunity.
As an internet entrepreneur, I’ve had the chance to review numerous online programs over the years. So I’m in a good position to share my thoughts on Prosper Trading Academy.
To be clear, I’m not affiliated with the program, and I’m not getting paid to write this review. You can trust that I’ll give you an honest and unbiased assessment.
By the end of this review, I’ll also share with you my top recommendation for making a full-time passive income online – it’s something that has worked wonders for me. Let’s get started!
Table of Contents
- What is Prosper Trading Academy?
- Who is Scott Bauer?
- Other Coaches of Prosper Trading Academy
- How does Prosper Trading Academy help you make money?
- What’s inside Prosper Trading Academy?
- How much does Prosper Trading Academy cost?
- Prosper Trading Academy Discount?
- Refund Policy
- 5 Prosper Trading Academy Red Flags Exposed!
- Is Prosper Trading Academy a scam?
- 5 Challenges of Stock Trading
- Is there a better way to make passive income?
What is Prosper Trading Academy?
Prosper Trading Academy is an online financial training platform created by Scott Bauer. Its main goal is to help investors of all levels to enhance their trading skills.
Scott Bauer is the leading coach at Prosper Trading Academy LLC. With his expertise and experience, he can help you achieve your trading goals.
Other instructors at Prosper Trading Academy are also seasoned veterans with a combined experience of over 75+ years in the financial market.
At Scott Bauer’s academy, you can expect to learn about equities, options, futures, cryptocurrency, and forex. Depending on your trading goals, you can choose from programs that range from 3-months to 2-years.
Who is Scott Bauer?
Scott Bauer is a well-known figure in the trading industry. He began his career as a clerk at the Chicago Board Options Exchange and quickly rose to become one of the highest-paid traders globally.
Scott’s journey to success wasn’t a straightforward one. He tried following the trade blueprints designed by money managers, but they didn’t work for him. So, he decided to fine-tune them and came up with new strategies that focused on options trading. Today, he follows a set of rules that give him an edge over other traders, and he consistently makes 2-digit to 3-digit profits every month.
Scott’s expertise in trading has landed him several media appearances, including Fox Business, CNBC, and Bloomberg TV. He shares his insights on trading strategies that are easy to understand and highly effective at turning profits every day.
Scott primarily trades options for e-mini S&P 500 futures and stocks on both exchange and OTCBB markets.
Other Coaches of Prosper Trading Academy
Scott Bauer is the top coach at Prosper Trading Academy LLC. Other coaches are:
Charles Moon: The Penny Stock Specialist
Charles Moon is a coach at Prosper Trading Academy who specializes in penny stock trading. He provides services to people who are looking to trade stocks and has a deep understanding of technical analysis, an essential part of penny stock trading.
Before joining Prosper Trading Academy, Charles worked at Great Point Capital LLC as an equities trader, where he honed his skills in active portfolio management. He also worked at CME Group as a representative, where he offered various options for risk management in the future. Charles has appeared on several reputable news channels like CNN, BNN, CNBC, Fox Business, and Bloomberg Business as a market commentator.
Mike Shorr: The Options Trading Expert
Mike Shorr is another esteemed coach at Prosper Trading Academy. He focuses on training students in short-term options trading and has vast experience working as a derivatives trader at CBOT, CBOE, and CME.
Mike is an expert in treasury and agricultural markets and has been teaching options theory classes for a long time. His entertaining teaching style keeps his students engaged, and he teaches them the art of entering and exiting trades on the same day.
Mike’s program also emphasizes options volatility strategies, but it primarily focuses on daily options movement to allow small traders to take advantage of the market. With Mike’s guidance, students learn to trade options quickly and effectively.
How does Prosper Trading Academy help you make money?
Prosper Trading Academy’s ultimate goal is to help their students make money in the markets.
Trading involves trying to profit from the financial markets using short-term strategies, and the academy can teach you the necessary skills to do so effectively.
The courses cover a wide range of topics and strategies, such as technical analysis, options trading, and futures trading. They also provide real-time market data and access to experienced traders who can provide guidance and support.
- Learn more about stock trading.
What’s inside Prosper Trading Academy?
Prosper Trading Academy offers a variety of courses tailored to your needs and level of experience. Let’s take a closer look at what they offer.
Options Volatility is a course designed to teach you the basics of option pricing and how to strengthen your portfolio against market fluctuations. This course will be useful if you’re expecting quarterly earnings reports, market events, or geopolitical unrest. Learn to incorporate data into your trading plan and make informed decisions.
Penny Stocks are a popular choice among experienced traders. This course will teach you basic and sophisticated strategies for minimizing potential losses. The focus is on over-the-counter trading rather than long-term investing.
Short-term options allow traders to profit from a rising or falling market with an appropriate amount of risk. With this course, you’ll learn how to trade options quickly and efficiently. Most trades are opened and closed on the same trading day.
Momentum Stocks (E-Book, Free Download)
Discover the basics of stock trading with the Momentum Stocks E-Book. Thorough research on stocks, including short sales and dividends, is recommended. Learn about market entry and exit orders, algorithmic trading, and sound trading psychology to make smart investment decisions.
Bitcoin and other cryptocurrencies have offered some of the most promising investment opportunities over the past decade. This course will teach you how to master the fundamentals driving price reactivity, identify the best companies within each token category, and profit from market volatility.
Options Income & Long-Term Trading
Get the inside scoop on trading and managing options like a hedge fund manager. Whether you’re a novice or a seasoned pro, you’ll learn how to find and execute options trades, set profit targets, and monitor positions and risks. Avoid common mistakes and achieve success with options trading in the long run.
The Foundation Room is a learning resource for traders of any experience level. Here you can refine your trading skills or discover new strategies to become a more reliable trader. Learn about option volatility theory, standard and specialty stock trading, trading psychology, and technical analysis tools such as scanners and algorithms to identify potential market openings. Receive live instruction and feedback on your questions and concerns each day.
How much does Prosper Trading Academy cost?
If you’re interested in taking courses with Prosper Trading Academy (PTA), it’s good to know that they have different prices for their courses and newsletters. Here’s a rundown of their current pricing:
- Momentum Stocks ebooks: Free to download
- Options Volatility: $499.99 for lifetime access
- Penny Stocks: $4995 for 3 months of access
- Short-Term Options: $4995 for 3 months of access
- Cryptovault Newsletter: $1997 for lifetime access or $699/year
- Options Income & Long-Term Trading: No info available
- Foundation Room: No info available
It’s important to note that you’ll need additional money for actually making trades while following the training.
So, if you’re considering investing in any of the PTA courses or newsletters, make sure to factor in these costs as well.
Prosper Trading Academy Discount?
Unfortunately it looks like Prosper Trading Academy isn’t offering any discounts at the moment.
Prosper Trading Academy does not offer refunds.
You won’t get back your money even if you’re not satisfied with their courses.
Here’s what I found in their Terms and Conditions…
“If you decide to purchase a course or training materials from Prosper, you agree that there will be NO REFUNDS, NO EXCHANGES, and NO RETURNS. All sales are final and there are no refunds in whole or in part.”
5 Prosper Trading Academy Red Flags Exposed!
Here’re some red flags you should know:
1. Kicked out of the Webinar for Offering Feedback
One customer complained that they were removed from a paid webinar for offering feedback to the instructor, Scott. The customer mentioned that Scott was spending too much time telling his life story, and they wanted to move on to the actual options training. However, Scott didn’t take the feedback well and removed the customer from the webinar just 20 minutes after it started.
2. Lost Money on the Course
Another customer mentioned that they had bought the course back in May 2020, but had lost money 2/3 of the time. They lost over $7,000 in addition to the $10,000 cost of the course. They advised others not to take the course and were disappointed that they couldn’t give it a zero-star rating.
3. Poor Trading Recommendations
One customer said they signed up after reading the positive reviews but were ultimately disappointed with the program. They lost over $10k, and all the recommendations they received were at a loss. The customer even suggested that flipping a coin would have generated a better return. They don’t understand how the company is still in business and suspect they make more money selling courses or signals than trading themselves.
4. Questionable Sales Tactics
Another complaint was that the company called truck drivers, trying to convince them to pay thousands of dollars over the phone for “trading education.” They make it seem like customers can follow along with “professionals” and become rich themselves. However, the customer advised others to avoid the program and run away.
5. Unreliable Signal Services
Another person tried Prosper Trading Academy’s signal services and found them to be unreliable. They relied too much on the signals and ended up losing money. The lesson they learned was that it’s better to figure out trading strategies on your own, rather than relying on others to tell you what to do.
Is Prosper Trading Academy a scam?
Prosper Trading Academy isn’t a scam. However, based on my experience, I must say that the company uses a team of skilled salespeople who might put pressure on you to sign up for their services.
Personally, I found their high-pressure sales tactics quite off-putting. In fact, I had to hang up on one of their representatives because they kept repeating the same sales pitch. For me, this wasn’t a great start to the trading journey.
In my opinion, it’s best to figure out how to trade yourself rather than relying on others to tell you what to do. I haven’t come across any credible testimonies from people who consistently made money from signal services. On the other hand, I know of several who ended up losing money.
5 Challenges of Stock Trading
Stock trading can be exciting and potentially lucrative, but it’s important to keep in mind the potential downsides. Here are some cons to consider:
1. Possibility of Losing Your Investment
One of the major downsides of stock investing is the risk of losing your entire investment. If a company performs poorly, its stock price can plummet, causing investors to sell and resulting in a loss of your initial investment. If you can’t afford to take that risk, you may want to consider investing in bonds instead.
2. Research and Monitoring
When buying stocks on your own, it’s essential to do your research on each company to determine its potential profitability. This involves reading financial statements, annual reports, and keeping up with the company’s news and developments.
You also need to monitor the overall stock market as a whole, as even great companies can be affected by market corrections, crashes, or bear markets. This can be time-consuming and requires a significant amount of effort and attention.
3. Capital Gains Taxes
While you may be able to get a tax break if you sell your stock for a loss, selling for a profit means you’ll be liable for paying capital gains taxes. Be sure to consider this when making investment decisions, as it can eat into your profits.
4. Emotional Decision Making
Stock prices can rise and fall rapidly, often causing individuals to make poor investment decisions based on emotions like greed and fear. It’s best to not constantly check the price fluctuations and instead check on your investments periodically. This can help you avoid making emotional decisions that may negatively impact your portfolio.
5. Competing with Institutional Investors and Professional Traders
Institutional investors and professional traders have more knowledge, resources, and sophisticated tools to invest in stocks. As an individual investor, it can be challenging to compete with their level of expertise and experience. This can make it difficult to achieve the same level of success as professional traders and may result in lower returns on your investments.
Is there a better way 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.
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 starting 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.
For more information, you can check out my full review of Wealthy Affiliate.
Where to Join Wealthy Affiliate?
Wealthy Affiliate has a very simple pricing scheme. It has 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.
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You can enjoy all these values without paying a penny.
So I strongly recommend you to register a free account and see it yourself.