If you are interested in financial investment, you might like to know what it takes to become a successful trader.
The Daily Traders promises to teach you an “organic approach to trading” that enables you to make money in the live markets.
However, can he give you any guarantee on results? Is The Daily Traders a Scam?
In order to give you an answer, I’ve spent some time diving into the course The Daily Traders.
Since I’m not affiliated with the program, you can rest assured that my review is unbiased and genuine.
At the end of this article, I’ll also tell you about a free training platform that can help you create a steady passive income almost at zero risk.
Below is what I’ll cover in the review of The Daily Traders.
Who is The Founder of The Daily Traders?
The training program was created by Mark who has worked in various day trading companies. His YouTube channel The Daily Traders has 40.6k subscribers.
According to Mark, he started the academy after noticing that most traders are confused with trading strategies.
The mentoring group’s mission is to help all traders in the programme achieve financial freedom and enjoy the trading life.
But in my observation, becoming a full-time trader who has to worry about the volatile market from time to time is a nightmare.
After all, investing in stocks is risky because the financial market is very volatile. No one, including Mark, can accurately predict the ups and downs of stock prices.
What is The Daily Traders?
The Daily Traders does not sell you any software, bot or indicator for trading. It is a trading mentor program where you can work with 12 sneakers who are actively trading themselves
This makes it different from other similar courses where you have to invest in a lot of indicators and use clean charts to make trading decisions.
The idea behind this is that this type of training gives you more flexibility to make money in all market conditions.
Day trading involves opening and closing multiple positions throughout the day. To profit from short-term movements, day traders identify trends and react to current events.
An Overview of The Daily Traders
This mentorship program is called the Exclusive Trading Mentorship Group. The course consists of 24 videos with a total duration of 2.5 hours. On average, it only takes 2-3 days to complete the course.
Below is an overview of the content of the course:
- See exactly when Mark buys and sells a Stock
- Receive all notifications in real-time
- Understand position breakdown & explanation
- 25+ in-depth screen share & whiteboard training videos
- Designed to make learning efficient & effective
- Full trading system breakdown & execution
Exclusive Discord Server
- Daily pre-market stock watchlist
- 1on1 mentor consulting with The Daily Trader
- Get your questions answered in real-time
- Access the community of day traders
- Live announcements, updates, insights, analysis ETC.
Pros of The Daily Traders
1. You will see instant results
Day trading is fast and you will see immediate results. And what do I mean by immediate results?
After just a few minutes you will know if you are right or wrong, because the trade will either move in your favor or against you.
At the end of the day, after you have made a few day trades, you know how well you are doing, do not you?
Cons and Complaints of The Daily Traders
1. Day trading requires split-second timing
The system isn’t suitable for people who make decisions and are slow to commit. Day traders must be able to analyze the market quickly and execute high probability trades quickly and confidently when they see a high probability trade.
Also, you must be able to manage your trade, maintain impeccable discipline, and manage risk and reward efficiently.
2. Day trading can be more emotional than other types of trading
The pressure of the time limitations can make it difficult for you to handle a profit and loss statement that moves up or down quickly.
3. Not possible to get rich
It is unlikely you will get rich or make an exorbitant amount through a single big trade; wealth is usually acquired over time through a series of small trades.
4. Multiple transaction fees
Multiple transaction fees apply because of the numerous positions held and the fast-paced activity on the financial market that one is involved in.
5. Day Trading is risky
The risk in day trading is still high even with the analysis or recommendation of Innovation Investor. They don’t give any guarantee. Some stocks may lose their value, even their entire value, if market conditions deteriorate. Microcap stocks are especially vulnerable to market manipulation.
6. You’ll need a considerable amount of initial capital
Technically, there is no minimum amount required to start day trading. But you’ll probably need at least $200 – $1,000 to really get started. For example, to buy a stock that costs $60 apiece, you need $6,000 in your account.
7. You still have to count on your investment skills
The Daily Traders only gives you some insights or ideas about investment opportunities. But for the execution part, you still have to rely on your own judgment and skills.
Is There A Refund Policy?
The Daily Traders doesn’t provide any money-back guarantee. You should think twice before signing up for their program.
The Daily Traders Pricing
The price of this program’s package is $494, which provides you with lifetime access to digital course materials, one-on-one trainer support, live trading, and review courses.
If this is too cheap for you, you can also buy other packages that will provide you with additional benefits.
Is The Daily Traders a Scam or Legit?
I don’t think The Daily Traders is a scam.
But you must note that 95% of new traders lose their money and most of them fail to recover the money even in the long run.
On the official website you are also promised that with their strategies you will never suffer financial losses. In other words, the profit is always higher than the loss.
Is that possible? The claim that The Daily Traders can save students from losses implies that the academy has access to all kinds of insider information, which is not the case.
In fact, no matter how experienced you are in trading, you are still exposed to many uncertainties that can blow away your hard earned money in one fell swoop.
At the end of the day, their recommendation or ideas can only serve as a reference for making an investment decision. And you have to bear your own risk in doing day trading.
Is There an Easier and Better Alternative 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 Mark, 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 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.
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But How Much Can You Earn with Wealthy Affiliate ?
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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?
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