I’ve looked into this and from what I can gather from many hours of online research, most trading courses exist in a gray area – technically legal, but ethically sketchy. Some might be genuinely educational, but a lot are just monetizing hype.
That’s right – 21 year old Brad who’s been scaling his trading account for the grand total of 3 months can make a course, advertise it all over YouTube, and sell it for $1000 a pop.
However, these day trading course providers should be following some rules otherwise they may find regulators knocking on their doors:
- Misleading claims – if someone says things like: “You’ll be rich in 30 days!”
- Giving investment advice without a license – course creators shouldn’t be telling you what specific stocks to buy or sell.
Also be on the look out for:
- High prices with no refunds
- “Gurus” flaunting rented cars and luxury lifestyles
- No proof of consistent success or risk disclosures
- “Secret” strategies no one else knows
- Upselling, e.g., you buy the course, then they try to sell you into coaching for more cash
Is there a specific day trading course you’re looking at? I’m happy to put it under my cynical microscope 😊
