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Daniel Parker is a mysterious character and leader of a day trading community called, True Trader.
If you are reading this True Trader review, you must be a Day Trader.
Or, you are hoping to master the trading skill that enables you to be your own boss making money from home.
However, is True Trader a legit program that will allow you to achieve financial freedom?
There are so many gurus claiming to hold the secrete to trading stocks.
But after joining these day-trading communities, people discovered the guru has no secret. It’s just a scam.
Is True Trade another trading community scam?
I have done thorough research about Dan Parker and the True Trader platform to write this review.
Now, I’ll tell you everything that you wanted to know.
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True Trader Review Summary
Name: True Trader
Business Type: Day Trading Platform
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What Is True Trader?
TrueTrader is an online stock trading alert community. The platform promises to help all levels of traders to earn the most from the market.
The community goal is to send out one-day stock trading alerts for members to make money.
The platform utilizes a chatroom to provides the fastest trade alerts.
The trade alerts do not come from one member. All members can post a stock alert in the True Trader chatroom.
However, the leader of this day trading community is Daniel Parker, aka Dan Parker.
Most members look up to Dan Parker to learn his method of trading stocks.
Every morning, Dan Parker and other professional traders will go live to offer members stock alerts and options trading education before the stock market opens.
You will learn from Dan Parker how to trade and see Dan Parker trade live on the platform.
Who is Daniel Parker of TrueTrader?
Dan Parker is the leading trader in the True Trader community. He conducts a live trading stream on the platform every morning.
If you want to meet Dan Parker, you have to join True Trader.
But, no one can confirm the identity of Dan Parker.
Dan Parker may be a fictional character.
The founder of True Trader created this character to hide his identity.
If this is true, there is no way to find information on Dan Parker.
There is a good explanation why the founder of True Trader doesn’t want people to know about him.
You must be a licensed stockbroker to provide trading advice. Dan Parker is a fictional character to protect the trader from SEC.
This character also protects the founder from lawsuits and liabilities to members.
TrueTrader promises members a 2% return on investment every day. It’s unrealistic ROI with day trading.
You can find many YouTube videos and blog posts that verify the fall promise of 2% daily profits.
So, I am not surprised that Dan Parker doesn’t have a Facebook, Instagram, and LinkedIn account.
However, the question is not about the identity of Dan Parker.
You want to know if this trader has the trading strategies that can help you make money.
Now, let’s take a look at what True Trader is all about.
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How Does True Trader Work?
Think of True Trader as a stock trading alert service. The platform offers members a simple trading alert method that allows them to make profitable trades.
Before the market opens, Dan runs a live stream options trading education preparing members for the day trading.
The morning live stream session is very thrilling and fast-paced.
Dan provides members a pre-market trading plan as well as his Long/Short strategies.
The trading plan consists of the stocks he is watching and what’ll trigger a trade.
All stock trades must execute and close during the first 60 minutes of the day. It is a day trading strategy that Dan has used to make huge profits.
This particular form of real-time trade alert is unique and enjoyable. However, It’s not easy to copy the trades since they’re exceptionally fast real-time trade alerts or options trade alerts.
If you enjoy watching professional stock traders in action, you will find several benefits to this particular form of stock trading.
Here’s what you get when you join True Trader.
Inside The True Trader Platform
After joining the Trude Trader community, you are encouraged to complete the Strategy Masterclass course.
The course teaches you the trading procedures that Dan utilizes to make money.
Sure, you can enter the chatroom and start trading from day one. But, it will be difficult for you to follow Dan on the live stream.
Completing the Strategy Masterclass course is the key to longer-term stock trading success. It gives you the knowledge and skills to find your trades without relying on Dan.
First, we’ll review the True Trader Strategy Masterclass course. Then, we discuss the benefit of chatroom trading.
True Trader Lifetime Course Access
Your subscription comes with lifetime access to the Strategy Masterclass course. The course has four sections.
1. Dan Trading Strategies
This section gets you up to date with Dan’s day trading techniques, which he refers to as scalping.
Dan Parker claims the scalping techniques allow him to make a consistent 2% to 5% of profits daily.
The lessons cover the pre-market analysis, custom trading files, and support/resistance zones. You must have some basic knowledge of stock trading to understand these trading strategies.
This course is not for novices or beginners.
2. Setting Up True Trader Trading Account
The second section teaches you how to use ThinkorSwim.
ThinkorSwim is an electronic day trading platform created by Ameritrade. It is a default trading platform used by True Trader.
The platform suggests members open a trading account of $25,000. This investment level allows you to trade options without restriction.
You cannot short sell certain stocks if the fund in your account fall below the investment requirement. It will limit your trading profits because short-selling is one of True Trader’s main strategies.
3. True Trader Proprietary Scanner
This section contains short tutorials that cover different topics to set you up for actual trading.
The first tutorial teaches you how to set up and read different stock charts.
You learn the basics of setting up a candlestick to identify the stocks’ highest, lowest, and closing prices.
The tutorial even covers stock patterns to aid you with Technical Analysis.
The second tutorial set you up for the morning live trading stream.
You must be ready to receive Dan’s trading alerts from day one.
Every morning, 15 minutes before the market opens, Dan Parker will send out the trading plan for the day.
You learn to read the trading plan and narrows it down to two or three stocks that Dan is watching.
The tutorial teaches you to pinpoint Key Support and Resistance Zones of the stocks. You will know the right time to buy or sell the stocks.
Since you are only trading during the first hour after the stock market opens, having a game plan with the buy/sell mapped out will help you stay focus trading live with Dan.
The last tutorial discusses Dan’s proprietary stock scanners. It teaches you how to take advantage of the Pivot Scanner to find profitable trades.
True Trader stock scanners will help you pick out the right stocks three times per day.
In the morning, members can view the pre-market scanner.
Then, the scanner will give you an intraday reading.
Finally, you’ll have an aftermarket scanner.
4. True Trader Trading Psychology Coach
The trader psychology coaching teaches you to be patient as a day trader.
You learn to stay disciplined and allow the market to work for you.
Kim Ann Curtin is your psychological coach.
You learn how to handle the typical psychological blocks that day traders face.
- Inner Ego: It’s also known as ego trading. Kim teaches you how to handle your ego from interfering with your trading strategies.
- Fear of Failure: It prevents traders from putting a new trade for fear of losing.
- Comfort with Loss: She talks about the willingness to accept losses. Risk is part of investing in the stock market.
- Discipline/Lack of Proven Edge: She shows you how to incorporate discipline in your daily trading.
This lesson will help transform your life to become a better trader.
Once you have completed the Strategy Masterclass course, you will have the skills and confidence to do the daily live trading with Dan.
True Trader Chatroom Access
The chat room is where the actions take place.
Every morning, Dan will appear to deliver his pre-market analysis. He will discuss the trading plan and when to buy or sell the watched stocks.
You can also able privately chat with Dan during the live trading sessions.
The chatroom is the place to watch the pros at work and learn through their experience.
Trading side by side with professional traders will give you the confidence to enter trades.
New traders often lack the confidence to take action for fear of losing money.
A lot of alerts and trades are posting in the chatroom thought the day.
The chatroom is the place to get advice from the pros when you’re not trading live.
If you want to make money as a day trader, you should spend a lot of time in the chat room.
Overall, True Trader provides complex trading services to assist day traders.
However, does this alert service justify the price?
How Much Does True Trader Cost?
The cost to join True Trader is expensive indeed.
Recently the price has been changed to become a little more affordable.
The current cost to purchase a subscription for True Trader is as follows:
- It costs $295 for the lifetime Masterclass access.
- There is an additional cost of $99 per month to access the trading chat room.
TrueTrader eliminated the $395 per month regular price and the $99 per month annual subscription discount.
The new pricing tactic seems to generate more money for Dan Parker. Instead of paying one price for both services, you now have to purchase the service separately.
Those who purchase the chatroom access only will quickly realize that they need to buy the Masterclass as well.
Without taking Masterclass, you might not be able to communicate and follow Dan on the live trading.
You must be very careful before joining True Trader. There is no guarantee that you will get the money back after you pay.
Does True Trader Work?
You should know there is no guarantee of profits trading stocks. Most day traders lose money.
So, does True Trader deliver the 2% to 5% profits it promises?
No one knows because Dan doesn’t show his profit and loss (P/L) screen. He says showing it doesn’t help the subscribers to become better traders. It’s distracting them because they only focus on the percentage gain.
Sure, you get the training, the stock scanner tools, and access to the chatroom. But, this doesn’t mean you can make money.
If you use the chatroom to follow Dan trading, it’s not clear-cut either.
The live trading stream is fast-paced. It is not easy to buy or sell at the price points recommended by Dan.
Even if you do, there is no guarantee you make money with the trade.
That brings me to the next point.
Is True Trader Legit?
TrueTrader is a legit stock alerts and training program.
Yes, there is a lack of info on the lead trader Dan Parker. However, you have a lot of proof online that Dan is conducting a live trading session every morning.
You can join the True Trader chatroom to observe the live trading session. It’s real.
Even though True Trader is legit, I would not recommend it.
It’s not easy to make money as a day trader.
There is no way True Trader can deliver a consistent 2% to 5% of trading profits every day. It is a false promise to get you to join.
If you visit the BBB website, you will find so many customer complaints that True Trader ads are false, misleading, and scam.
TrueTrader does offer a unique stock alert service. But, it’s not a business that can generate a consistent level of income for you.
According to many True Trader members, Dan Parker doesn’t make money as a day trader.
Dan makes most of his money by selling the True Trader memberships.
If Dan can make so much money by trading, he would never share it with you.
True Trader Income Testimonials
The places to find positive reviews and income testimonials for True Trader are on their website and YouTube ads.
Don’t they feel like fake testimonials?
I share a few of them here for you to decide.
- Emry: “I joined TT nine months now, and since that then, I’ve had thirty-one winning weeks and just four losing ones, without one losing month. I usually profit four or five times each week. Each profitable month I have increased my trading size by 15%, and I have had a few days where I made more in a day than I had taken home in a month working for the San Francisco Zoo. I realize it’s about the system and where I made more in a day, but it’s good to make money when you’ve bills to pay.”
- Elliot: “I have been a member of your service for about five or six months now. I love it! Your levels are bang on and I am constantly profitable with them”
- Armin: “I’ve been with you guys for the last 4 months or so and have been doing incredibly well. To be honest I was a little worried about the oil drop and covid19 affecting the market and causing a massive spike in volatility. Well, one month into the “chaos”, and you guys are still killing it as if nothing ever happened. A world-class group of traders here.”
One income testimonial you cannot find is from Dan Parker.
What is Dan Parker hiding?
Why he never shows his profit and loss screen to members?
Maybes, members are telling the truth. Dan doesn’t make money regularly but loses money most of the time.
That’s normal with day trading.
True Trader Pros and Cons
I have shared with you a lot of information about True Trader.
Now, it’s time for us to review the good and bad of True Trader by Dan Parker:
True Trader Pros
- The live trading stream is exciting. It helps inexperienced traders build confidence by trading alongside the pros.
- True Trader offers a lot of content to educate you about their trading system. You can learn to become a day trader on day one.
- The chatroom and scanners make it easy for you to plug and play.
Those are things that I like about True Trader.
Let me share with you the bad stuff.
True Trader Cons
- My biggest beef with True Trader is their misleading ads. They give the impression that you can make money by simply following Dan’s buy or sell calls. It’s much more complicated than that.
- The Masterclass is not for beginners. You must have basic knowledge of trading to understand the strategies.
- It requires $25,000 to open a trading account. Who has this much in cash?
- There is no information on the lead trader, Dan Parker. I am smelling something fishy about this platform.
- The 2% to 5% everyday trading profit is a lie.
- No proof of success. Not even from Dan.
Now that I have given you the pros and cons. What do you think of True Trader?
Is True Trader Worth It?
Investing in stocks is a popular method to earn passive income.
However, True Trader is different. It’s a day trading platform.
Day trading is not a passive investment. It takes a lot of your time. You must constantly study the market, read charts, and waiting patiently for the right time to buy or sell.
You might make some money on the first few trades but can lose it all in the other attempts.
Day trading is gambling. It’s not a safe investment.
I don’t think True Trader is worth it if you are looking for an opportunity to generate a consistent income.
It is exciting to watch the live trading sessions. New traders might learn a few things from it. But, it is not easy to replicate the trades. You have to be quick and fast or missing out on the stock price target.
TrueTrader is not a stable and secured method to earn passive income.
Don’t take on so much risk and lose all your money.
When it comes to earning passive income, you have plenty of low-risk opportunities to invest your money.
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I hope this True Trader review answers your questions, is True Trader by Dan Parker legit?
Until next time.
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