Is Day Trading Academy a scam? There has been a lot of chatter about this trader training platform in online trading circles of late, and many have been wondering if it’s legit. Well, that’s what we intend to find out in this Day Trading Academy review.
Before we get into it all I first wanted to say congrats for being here on my site. Many people join stuff online without doing any research first, and some even end up buying into scams. Because you do your homework, chances are you’ll never be one of them.
Let’s now take a good look at Day Trading Academy and see if it lives up to its promises…
Company Name: Day Trading Academy
Owner: Marcello Arrambide
Price To Join: $2000
My Rating: 5/10
~ The Day Trading Academy Review ~
I’m not an associate of the Day Trading Academy in any way, so this is a totally independent and unbiased Day Trading Academy review.
Whether it be trading Forex or futures from home online, doing business, or even filling out surveys, it seems everyone is looking to the internet for options to make some money these days.
And why not? There are loads of opportunities online, and because it’s global, it doesn’t matter where you are in the world you are or what time of the day it is. We can all make money 24/7…literally.
I actually live the true definition of the laptop lifestyle, and all because the income I generate comes from online sources, and some of it from Forex trading. I actually make a fulltime income, but don’t work fulltime hours.
Anyone can make money online, and it’s one of my goals to help others live the kind of freedom lifestyle I now live.
It’s because so many people are on the internet these days looking for options, that so many make money scams exist. Sometimes they’re in the guise of legit training platforms too. We always need to be aware of this and keep our guard up.
The reason I write so many reviews on my website is because I’m here to help, and reading product reviews of training programs and make money online (MMO) schemes is one of the very best ways to avoid the scams and discover what’s worth getting involved with.
Because I trade a bit of Forex myself, when I came across the Day Trading Academy, I knew I had to look into it and write a review on it.
Let’s now see if Day Trading Academy is worth joining or not.
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What Is Day Trading Academy About?
Day Trading Academy was launched in 2011. It is the brainchild of trading professional, Marcello Arrambide, who has been an avid trader for almost two decades now.
It focuses on teaching successful future’s trading and the ever-popular Forex market.
DTA is a training platform that’s always evolving, as it’s an open source project that is continuously being developed and improved upon by a number of industry professionals.
What this means is that the training here never goes stale and is always being updated with new information, new ideas and new strategies. You’ll never stop learning and this makes for a very unique environment.
Apparently the people running the academy are very “hands on” with their students. You’re made to feel very involved and not just like someone looking on from the outside, and we’ll get more deeply into that aspect shortly.
The big push in the sales pitch for joining this platform is that students, once they learn how to be successful day traders, can work from anywhere in the world, in essence allowing you to live the laptop lifestyle of freedom and travel.
Trading can be lucrative, but obviously also very risky if you don’t know what you’re doing or don’t have proper risk management in place. In fact, it would be crazy to start Forex trading without some form of training or intensive study into it first.
That’s where platforms such as Day Trading Academy attempt to fill the void between beginner and successful trader.
There is a lot to Forex trading, way more than learning a certain trading style or a strategy or two. It’s a very in-depth subject as well as very intensive.
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Who Is Marcello Arrambide?
I mentioned that Marcello Arrambide has been trading the markets for nearly 2 decades, having started his Forex career in 2002, when online trading was very much in its infancy.
It wasn’t all a bed of roses for Marcello, as he suffered some losses as most traders will at some point. In fact, he chewed through his first investment of $25k.
This isn’t an uncommon scenario for newbie traders, and that’s why it’s so vital to learn as much as you can first, from experienced experts, before you even think about putting any real money on the line.
After his initial losses and having then learnt some new strategies that did work, Marcello decided he wanted to train others how to trade successfully and not make the early – and costly – mistakes he made at the start of his trading career.
The Day Trading Academy was born in 2011 and has been going strongly ever since.
These days Marcello is a keen traveller and definitely lives the definition of the laptop lifestyle. He has travelled across 5 continents, taking in 110 countries and has lived in 12 of them.
How Does Day Trading Academy Really Work?
You’ll find that many platforms that have anything to do with Forex trading – whether training or otherwise – usually try to either sell you or give you some sort of automated bot software that supposedly does the trading for you and has unbelievable success rates (fake).
I’m happy to report that Day Trading Academy doesn’t bother with that nonsense, nor are they trying to sell you any trading signals.
DTA is more about hands on training in the trading arena, where as you’re learning to trade, you’ll submit samples of your trades to your instructors for evaluation and comment on a regular basis.
Now remember, everyone on staff at the Day Trading Academy is a successful and experienced trader in their own right, so you can expect that the corrections and advice you’ll receive will be valid for the most part.
When students complete the training they are required to become trainers themselves, which sounds a little odd to me. Not sure if there is any form of compensation for that or not, but there should be if students are paying so heavily to do this training.
The idea is that by the time you’ve completed the training you’ll be a confident trader, ready to start making a living online from your day trading efforts.
The Day Trading Academy Training Course
One thing Day Trading Academy seems to heavily focus on is teaching people to trade without indicators, just clean charts.
I also find this a little odd as well, as using several indicators in combination can really help with making trading decisions, along with studying and understanding the candlestick chart patterns.
Anyway, the aim of DTA is to have its students confident enough to trade without “confusing” indicators. They focus on teaching you about price action and trade according to that.
Training comes in the form of written, audio and video formats, so there’s something to suit everyone’s favoured learning methods. You’ll also be required to regularly submit homework to the instructors for evaluation.
Training can consist of either recorded classes or live classes. If you can get in on the live classes, you’ll be learning to trade along with your instructors as they trade their live accounts with real cash.
Let’s now look at what the training modules consist of.
This phase of the training is specifically designed for complete beginners who know nothing about trading.
Here you’ll learn the basics from the ground up as you work your way through the 19 lessons. You’ll learn about technical analysis, the psychology of trading, how to control your emotions during trades (vitally important) and much more.
Although this is targeted at newbies, some traders with experience who would like a refresher on the basics can benefit from this phase as well.
Obviously more advanced than the first phase, in this section you’ll discover when it’s the right time to trade and when not to trade. You’ll also learn about risk management, which is just as vital to trading successfully as keeping your emotions in check.
Other things you’ll learn are:
- Maximising profit targets
- Mastering the Ninja Trader platform
- Understanding market behaviour
- And more…
It’s during this phase that really start to get right into things, as now you’ll be trading live and with confidence (according to DTA).
It’s also during this phase that you’ll be receiving feedback on your trades, highlighting what mistakes you may have made and what you did right.
You’ll be learning what are considered to be some unconventional trading methods, along with how to study the market.
The Pro Phase is deigned to take your trading to the next level, rather than teach you how to trade, as you’ve already covered that.
This is not a phase you want to tackle if you still feel like you haven’t got a grasp on what was taught in the first 3 phases. This fourth phase is built for those who are serious traders with a good understanding of the trading environment, otherwise the information here is likely to go right over your head.
Trade live with DTA instructors and learn to blast your trading profits into the next stratosphere.
Other Things To Consider
Firstly, trading of any kind is a high risk environment. You really need to practice for several months on a demo account before risking real money on trades. That doesn’t seem to be a focus of the Day Trading Academy and I don’t agree with that approach. Otherwise it's just like gambling.
A lot of their trading strategies seem to be based on following your instincts and trying to read clean charts with no indicators. Again, this approach could get you into financial trouble. Having said that, you will be trading live alongside your instructors, who are risking their own money as well.
It seems to be hard to find any verifiable positive reviews out there regarding students having success. The reason I say this is Day Trading Academy offer one free month of membership to every student who writes a review of the platform and puts it online.
The training is quite expensive, so not really suited to any beginners who are looking to start off trading Forex with a mini account of only a few hundred dollars.
Owner Marcello Arrambide has been caught out writing fake positive reviews of DTA on various forums, under the guise of being a Day Trading Academy student.
Day Trading Academy is targeted at newbie Forex traders and experienced traders alike, as the 4 phases of training cover most experience levels.
It’s always wise to seek out some training before going into live trading. After all, you’ll be risking your own money, so it’s smarter to maybe spend some on training first and invest in yourself before you invest in the market.
What I Like
- You can make some really good money trading Forex if you learn what to do, practice, and adopt proper risk management
- Marcello Arrambide has been trading for nearly 20 years, so he does know a lot about the industry
- Day Trading Academy has been going for 8 years (at the time of writing this review)
- You’ll trade live with course instructors
- Receive feedback on your trades
- The course is newbie friendly
- A+ rating on BBB
What I Don’t Like and Red Flags
- The price of the course is quite expensive
- Some of the strategies they teach sound questionable to me
- Marcello Arrambide has been caught out writing positive testimonials for his trading course
- Students are encouraged to post reviews of DTA online in exchange for a month of free training
- Forex trading is a very high risk environment
- I’m not keen on how they teach people not to rely on indicators
- They don’t encourage trading on a demo account first
- There is only one review on the BBB website, and it’s a negative one, stating that the academy is nowhere near as hands on as they make out
How Much Does Day Trading Academy Cost To Join?
I mentioned that it’s quite expensive, and for newbies just looking to test the waters of Forex trading, I think it is rather costly.
The first year of membership will set you back $2000. If you want to remain a member of Day Trading Academy after one year, you’ll pay monthly at $150 per month.
I haven’t gone through their training, so I’m not sure how long it takes, but maybe you don’t even need to remain a member after a year if you’ve completed all the training. Not unless there is some other benefit to staying a member and keep on paying.
I highly recommend another trading academy which is bway etter in my opinion and much cheaper to join. Check out my review of Traders Academy Club here.
Is Day Trading Academy a Scam Or Legit?
I don’t think there’s any scam going on here at all with Day Trading Academy. You just have to keep in mind that trading is high risk and rewards can never be guaranteed, no matter how experienced and skilled the instructors are.
No trader never experiences some losses, but with training, guidance and risk management in place, there’s no reason why you can’t learn to become a profitable trader.
I do think DTA has some merit, and I really like the hands on approach of being able to submit trades for evaluation, along with trading live with the instructors, but I do think the price is a bit excessive; especially for beginners who may just want to test the waters with a small trading account.
I’m thinking this platform might be better suited to traders who already know the basics and have experience, who may be looking for ways to take their trading up a few notches.
For some great free beginner training that’s actually very in-depth, take a look at the BabyPips School of Pipsology.
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