Scott Bauer can be your text mate for a price, perfect if you’re tired of only receiving boring texts from your SMS operators. None of those sweet nothings and cheesy messages though, just eight real-time trading alerts with stock entries, management, and exits. I mean, what do you expect? He’s married and a stock trader from Prosper Trading Academy after all. But seriously, should you give Scott and his program a shot? My short answer would be no, not really. Reasons why I say no are listed on the review below.
So, what is Prosper Trading Academy first? Well, it is an online training program founded by Scott that claims to have 75+ years of trading experience. I’m not sure how they arrive at this figure, but they likely add the years of experience from its instructors in Scott Bauer, Charles Moon, and Mike Shorr. Scott alone had 25+ years of professional equity and index options experience at CBOE and CME. From its name, the Academy offers trainings relevant to stock trading.
Aside from the trading signal alert service in Bauer’s Power Picks I mentioned (and lowkey made fun of) earlier, there is also a training program on options volatility headed by Scott himself. The said program includes the following training resources: The Ultimate Guide to Trading Options which is a 42-page book with insights about options trading, Options Volatility Video Crash Course which is a video version of the options trading book but more extensive, and The Six Figure Method which claims to reveal Scott’s secret options strategy that made him a six-figure earner. It also includes Live Options Signal Room which is basically a live coaching session during the morning, and a webinar subscription where you can watch Scott himself do options trading in real-time.
The academy also provides other trainings regarding Penny stocks, short-term options, momentum stocks, cryptocurrency, options income and long-term trading, and basic pointers on securities investment and trading. Mind you, they’ll try so hard to sell these regardless of you needing it or not.
Speaking of selling hard, the first reason I don’t like this program is the cost. All of these trainings cost at least $20,000 yearly. You heard it right, twenty grand is not enough for lifetime access. A terrible take really for the saying “nothing lasts forever, all we have is what’s between hello and goodbye.” Quite frankly, there’s no such thing as hello for me in this. Nothing but “bye, felicia.”
Another reason to swerve from this program is because of its reviews. The Trustpilot ratings is pretty good, to be fair. But from my extensive experience as a reviewer of programs and businesses, I usually value the few detailed feedbacks more than the many generic ones. In Prosper Trading Academy case, the positives are too generic and sometimes talking about something except Prosper Trading Academy. This is why the one well-written complaint in BBB before caught my attention. If my memory serves me right (which I hope so since the BBB page of Prosper Trading Academy is down), the complaint is about the program being too basic and ineffective. More losses following Scott’s rather expensive strategies apparently that tossing a coin is much better.
Besides, I really cannot advise anyone, especially newbies, to try stocks trading. It is very risky and highly volatile endeavor that is not for the faint of heart. Personally, I wouldn’t want to subject myself on a biz that puts me on an emotional rollercoaster every single time. Call me boring but I don’t want none of that thrill, sorry!
If you still want to learn stocks trading despite the risks, you can at least learn it first from free resources on the internet. Zero charge for lifetime access, how about that Scott? For paid but affordable courses, the rule of thumb is to only pay a grand or less.
Don’t get me wrong, I don’t think the Scott and his Prosper Trading Academy is a scam. He’s providing something of value in stock trading but it’s just not worth the asking price and quite the opposite of being bang for the buck. Unless you like the thrill and gambling mechanic of a very risky endeavor like stock trading, I would very much discourage you to make this as your source of income.