Are you interested in forex trading and looking for a reliable platform to learn the necessary skills? Is Day Trading Academy one of those platforms? This Day Trading Academy review shares the ins and outs of this platform.
If you want to make money working from home, you might have encountered the day trading business model. Day Trading Academy is one platform that claims to teach you the ins and outs of forex trading.
It’s good that you’re interested in doing your own analysis before you start the system. And in this in-depth review of the training program, we will share if it’s a scam or a legitimate source to get a jump start in trading.
Day Trading Academy Review
This platform is the brainchild of Marcello Arrambide. The open-source program claims to get you up and running with forex trading. It has some unique features and comprehensive training modules, but there are a few things we didn’t like.
Marcello Arrambide is no stranger to the trading industry. He has been in it for almost 20 years while actively participating in day trading. However, he’s been creating and providing online trading techniques for the past eight years.
Apart from running the online trading Academy, Marcello has other passions. He is an avid traveler, having toured more than 110 countries on five different continents. On top of that, he’s immersed himself in different cultures while living in 12 countries globally.
His hasn’t been a journey of success all through regarding online trading. In fact, Marcello has had losing streaks with online trading since he started. He is reported to have lost $25000 in his first investment.
Losing such a huge amount of money has been his motivation for the online trading academy. Marcello wants to help other novice online traders find their way in the trading industry. He has tips and tricks to help you avoid losing and create successful investments.
However, many people are wondering if this is just another scam like so many others out there. Fake reviews and testimonials are some of the put-offs (a big surprise awaits you, read on to find out!).
Not only do they take the credibility away from the course, but it’s also a very deceiving way to sell a product. And even if it was simply a marketing ploy, that is still very unethical.
The training program is also a little too expensive for most people new to online marketing. The training membership will cost you $2,000 one-time and then $150 monthly.
But let’s dig deeper!
What is Day Trading Academy?
It’s an open-source project and has training modules from forex experts from all over the world. The business model has gained quite some fame over the years and is constantly changing. With time, it’s evolving and improving, but the fundamentals remain the same.
The program founder has been in the industry for over two decades and has nearly a decade of coaching experience. He goes on to talk about how he lost money a few times and teaches tactics using which you can minimize your losses, too.
Unlike other programs, day Trading Academy doesn’t sell indicators or software trading bots. You will be working with real people who do trading full-time. Once they train you, reciprocation is expected, and you’re supposed to coach other members.
This way, you’re not just giving back to the community but also practicing the skills you’ve learned. The trading education that you receive from the online trading academy is what most people focus on.
Regarding trading strategies and training, other platforms tend to fall short. This is because they tend to rely on demo accounts to train traders. And while this is good for beginner training, it might not help you become a successful trader.
Using demo trading only shows ‘demo successes,’ which some traders display as actual winnings. The Day Trading Academy ensures online traders receive better trading education. Once you complete the training, you have to offer it to another person, and so on.
The good news is you are guaranteed training from live, experienced traders who understand and are quite skilled in trading. They come with the latest market information, trading strategies, risk mitigation strategies, and trading techniques.
See Related: Best Books on Making Money Online
Trading without Indicators
The program has nothing against indicators which some people love to use. DTA focuses on trading charts which is the recommended approach. They, however, teach how to use indicators to estimate the direction of the trade.
The whole concept has nothing against trading indicators. But, some trading strategies become complex when you incorporate trading indicators. This is why there’s an emphasis on basing trades on clear charts.
Viewing these clear charts and voiding any complications when making decisions is much easier. The charts are a better way of making informed choices during trading so you can make a good profit. This is the concept behind Day Trading Academy.
As a beginner, it might be necessary to use some indicators as you build your confidence. But, as you become an experienced trader, this becomes less as you adapt and make better choices.
A Strategic Approach to Profits
Traders who opt to train with DTA will notice the strategic approach of this online trading academy. The goal is to equip beginners with skills they can work with as traders for a long time.
The trainers emphasize that traders must adhere to and implement the patterns trainers highlight. This is a winning strategy for beginners as they master online trading. That way, you can gain market aptitude and more confidence as a novice trader.
As you gain more confidence, it’s time to start employing chances to trade strategies. It works for risk management and both trading entries and exits.
DTA will then check your ability to read the market and start implementing advanced trades for profit. These are usually pro trades that don’t fall within standard trading rules.
If you run your own business, work full time, or have other responsibilities, you might want to make this training a part-time activity. This is one of the reasons why DTA has come up with training programs that suit busy folks. They claim the curriculum provides a good learning pace for beginners who want to be actively involved in trading.
The learning is carried out in multiple phases – Beginner, Intermediate, Advanced, and Pro. You can get started based on your current level and create a customized learning plan to suit your needs better.
Recommended for total beginners who have no idea about trading. If you’re already familiar with how things work, you may still complete this phase to solidify your foundation.
It’s a great place not only for novice traders but for those with experience to sharpen their skills. In fact, there’s suitable information you might find useful as an experienced trader.
The beginner phase comprises 19 chapters, including an introduction to technical analysis. There’s also a chapter on the psychology of trading and emotional intelligence.
This phase is for the slightly-advanced traders and aims to get your feet wet. It teaches you to find the best times to trade and covers a handful of risk mitigation strategies.
Here, you can learn all about the best ways to make or not to make trades. There’re also chapters on maximizing risk management and maximizing profit targets. During this phase, DTA provides the NinjaTrader module and Emini Basics.
In addition to the free introductory classes, advancing your skills means learning to handle market movement exercises, plus reversal pattern exercises. There are real exercises for active and accurate trading. You can also learn about different market behaviors.
Focuses on advanced strategies and assumes you’re already ready for the market. With this phase, you can know which trades are valid/invalid before you put a dime into some.
Momentum direction is important once you learn how to read the market. You can employ trading strategies to differentiate between valid and invalid trades. This is possible even without spending a single coin on a trade.
This is a feedback-based phase by DTA, meaning you can send in feedback. Learners also have the chance to share different trading approaches that they encounter.
The advanced phase helps you master the setting of dynamic profit targets, as well as unconventional trading strategies to help you better predict the market. In other words, you are learning a new but more realistic trading style that not many day trading programs will teach.
4. Pro Phase
This is the last phase and helps you get a deeper understanding of the market so you’d feel confident no matter the market condition(s). At this stage, you have a better understanding of trading and can withstand any storm that comes your way. Pro classes are exclusive, so you must be ready to be a committed online trader.
The most successful traders who train at DTA have winning strategies that they use. If you are ready to dip into live markets, the Pro Phase requires you to put your skills to use.
You can also be part of the trading community and interact with other traders. That way, you learn, share, and make profits.
Is the Day Trading Academy Training for Everyone?
Can anyone take part in the DTA training? Or is it only suited for specific people? These are some of the questions people ask in the beginning when they come across the Day Trading Academy.
The good news is that the DTA training suits all folks interested in day trading. If you want to move away from working a 9 to 5 job or want to earn part-time at home, this is a good idea.
Unfortunately, DTA does have a limited intake of students. They only accept a set number of students per training. Those lucky to get a spot will benefit from the training provided by live traders with experience in online trading.
All DTA classes are live online, making them easily accessible from many parts of the world. The academy provides trainees with an exclusive link that they can use to access these online classes.
Besides training classes, beginner traders also become part of an exclusive member area. Here, you access pre-recorded classes and interact with each other. Real traders provide classes on DTA, making it easier for beginners to understand the market and make money.
For the first year with the Day Trading Academy, expect to shell out a one-time $2000 payment. After the first year, it will be $150 per month.
The classes are online, and the program doesn’t accept everyone. You can only enroll if you’re selected.
The program is pretty expensive for what it offers, and there are relatively cheaper options to get started with trading. YouTube is one free resource from which one can find anything scattered in different places.
Why Do People Choose Day Trading Academy?
DTA has a massive number of folks who want to learn day trading through the program. But why do they choose this training when there are so many other cheaper options available?
1. Better Market Understanding
Well, DTA says that they have a better understanding of the market. This is not based on indicators or software but on price action.
You have to learn different trading approaches as a beginner to become a successful trader. Price action is one of the most important things to learn about day trading. This comprises in-depth market analysis and daily market recaps.
2. It’s Ideal for Novice and Seasoned traders.
The mentoring program can be useful since it covers different training levels for traders. For instance, you can start at the beginner level if you’re a novice trader. That way, you can learn about market movements, that’s important knowledge.
3. Live Classes
This training program only caters to a specific number of traders. This means you have a better chance of learning more since there aren’t too many students per class. Live traders offer better training and flexible training courses for busy adults.
Live classes are available 2 times per week on DTA. The live traders who teach these classes are forthcoming with useful information.
Day trading can be an uncertain environment with lots of risks, especially for novice traders. This is why live training is important to understand certain market aspects.
4. It’s Realistic, Teaching you the Aspects of Risk and Rewards.
With DTA, you also learn the element of risk and reward, a commonality in day trading. In essence, it teaches you that traders lose and will lose trades. However, you must learn the power of risk and reward, which entails the money you risk losing and any profit you might make.
5. Doesn’t Rely on Software Trading
DTA isn’t a software-selling business that makes you rely on them for successful day trading. Instead, you learn how to read the market in real-time and make informed decisions. The goal is to learn the right behaviors by building discipline and psychology.
6. Ample Learning Time
This training can last a minimum of 3 months, giving you ample learning time. Day trading can be a challenging course to learn, so DTA aims to make things simple. The review classes after the training are a great way to cover all questions you may have.
It’s also important to note the DTA required checkpoints throughout the training. The purpose of these checkpoints is to reinforce learning using homework. Some homework helps you gauge how much you know and what you need to revisit.
Homework is available in the form of charts that students work on and send back to DTA. This is one way to check areas that need correction that experienced traders can assist. It’s also one way to learn progress from the first core class in your trading education.
Pretty much all of the testimonials and reviews are fake. We found an instance where the founder wrote a review for his product on the futures.io forum (and later got banned). This is what we found:
After this incident, people are yet to hear from the founder on the forum. It didn’t help that we couldn’t find any ‘real’ student success stories either. Also, the costs are astronomical, which can be a huge risk since there is no (limited) social proof.
A lack of testimonials can worry beginners who want to learn about day trading. DTA has video testimonials on its website, but it’s hard to authenticate them.
Is Day Trading Academy a Scam?
No, this Day Trading Academy review shows that it is not a scam. For starters, it cannot be considered a scam since the user(s) are not scammed once they make a payment. They get access to a community of traders where the information they learn can be (potentially) worth a goldmine.
The best way to start day trading is to learn what it is and how to do it properly. That way, you can avoid losing money and learn all about trading, especially on the stock market.
You get access to some of the best trainers in the space and learn some of the most legitimate tactics. However, the testimonials are all made-up. Even the founder has been exposed for giving testimonials for his own product!
This way, there’s no way to know if the program is actually that good or just another bin-worthy program like countless others. It’s also ridiculously priced at $2000 one-time + $150/per month. That’s too much of a risk for a beginner, and if things don’t go their way, it can make a big dent in the wallet.
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