About Trading Techniques
Trading Techniques is an online course created by Steven Dux to help inform those pursuing a profession in day trading. The course is tailored mostly toward those looking to trade highly volatile penny stocks with information covering both the long and short sides of trading.
But does this $1,200 course really reveal “The secret to making 7 figures in a year”?
Who is Steven Dux?
Steven Dux is a self-made millionaire known for turning his life savings of $27,000 into $3,000,000 all before being legally able to rent a car. Needless to say, his results speak for himself, but how did he fall into this profession that not too long ago was shadowed in relative obscurity?
Well Steven Dux is a Chinese Immigrant who made his way to the United States for High School before finding himself studying Environmental Science and Accounting in College. It wasn’t long before life took a turn for the worse and Steven found himself backed into a corner.
The love of his life had just broken up with him, his dad was breathing down his neck to return home to China, and the limitations of his F-1 visa made it clear to him that the few options awaiting him after college were nothing that would make him feel any sense of pride.
So, he did what any sensible young man in his position would do. He invested the $27,000 for his College Tuition in the market, lost half of it, borrowed another $10,000 from a friend, and in less than a year made $1.3 million. So, you know, just a typical everyday success story…. |Sarcasm Implied|
Trading Techniques Pricing
Right off the bat, not going to sugar coat it, this course is no small purchase. $1,200 to gain access to insight that Steven Dux believes is crucial for anyone out there looking to profit from the stock market.
But how does it compare with its competitors?
Trading Tickers – Fluctuates between $997 and $2,000 depending on current deals
- Wolf Trading – A Day Trading Guide by Roland Wolf
How to Make Millions – Full Price is listed at $997, but DVD is rarely not on “sale”
Trading Techniques Curriculum
The Trading Techniques course covers a variety of topics inside of its near 10 hour run time.
Within its contents you will learn:
- Market Basics
- Trading Psychology
- Long and Short strategies
- Risk Management
- How to build your own statistical database
The Basics, the fundamentals, the building blocks upon which any skill or trade is developed. In the first part of the online course Steven Dux ensures to condense all the starter information any prospective trader needs in order to begin.
This includes the broker he himself uses, listing the pros and cons of each one, doing his best to remain unbiased to any particular broker. Although he does repeatedly throughout the near 10-hour runtime remind the viewer how great CenterPoint Securities is for short selling.
From here in an interesting twist, instead of informing the viewer as to what a beginner should know, he instead decides to redirect the viewer to a list of books he believes will do it for him. Not really a knock against him, but towards the end of the video you can really feel how Steven is trying to reach that 10-hour mark on his course with various filler, and I can’t help but feel he missed an opportunity to do some of that here.
After the beginning stages of his course he starts to become similar to a one stop penny stock Wikipedia page. Offering basic definitions of market vernacular easily accessed and most likely known to the various consumers of his course, who have most likely already delved deep enough into the penny stocking world to not only discover his online course, but to pay $1,200 for it.
Again, not really a knock, but I can’t help but feel this is more filler in an attempt to reach his 10-hour goal.
One of the more conflicting areas of this course would have to be the subject of psychology. In the course’s promotion, trading psychology happens to be one of the more grabbing topics of its proposed curriculum. The idea of understanding the “why” behind the more explosive moves in the market can be quite the confidence booster and something I myself as a trader, have found to be very beneficial in having the confidence to trade day in and day out in such a volatile profession.
However, in the beginning of this course when this topic is first touched upon, instead of receiving a general knowledge of the psychology of trading, instead you are greeted with a slide only speaking of its importance. It can be likened to telling somebody the benefits of eating healthy and the wonders it can do for you, and then not telling them exactly what eating healthy is, leaving it vague and open ended to an unexperienced individual.
Steven does however touch upon the subject a bit more when explaining his trading patterns in the second part of his course. He details his opinions as to why he believes certain things in the market happen and explains his reasoning behind it. Steven is more known for his short selling abilities, but he takes the approach of a counter puncher in boxing, learning the opposites of his patterns and using that to gain an upper hand in the market.
I found this to be quite enlightening and refreshing, and although Steven can get a bit carried away in his course, he offers about as much information as he can as to the “why” behind each of his patterns.
Long & Short Strategies
Okay here we go, the meat of this online course and the most likely reason 99.99% of those who purchased this course decided it was worth the investment. The trading strategies of one of the most talented young traders in the world.
Steven teaches four long patterns and five short patterns in his course that he uses to make money in the market. He begins more focused on the long side of things, explaining their benefits to smaller accounts and his rational behind the strategies. Steven throws a lot of information your way in rapid succession, filling pages on his power point slides to the point of almost bursting.
This can be seen as both a good and a bad thing. The information given is valuable and important to understanding how to trade, but with the sheer volume of information being thrown at you at once, it can feel quite overwhelming at times. This paired with Steven’s relatively thick accent can make truly grasping these concepts quite a challenge upon itself.
I will reiterate the information is there, and there is obvious merit to what Steven says, but a lot of his examples are all given in hindsight and not explained in a live situation. This becomes an issue when comparing it to another online trading course such as “Trading Tickers” by Tim Grittani, where each pattern touched upon in his DVD is accompanied by live examples of his past trades, where whether win or loss he shows his reasoning behind the decisions he made, owning up to any mistakes and using them to help teach the viewer.
When reviewing something from the past it is very easy to appear all knowing when you already know the outcome, and in the case of most of Steven’s charts, the patterns he teaches have already played out. This could be forgiven, but later on when Steven does post his live trades he doesn’t’ seem to always follow his own rules he set before earlier in the course. Coming up with new reasons not touched upon in earlier segments.
I do not fault Steven for this because the market is a rather volatile place and things are always changing. So many variables can affect a trade that only experience, and a level head can help you identify the situation at hand. I just wish that Steven would have found more live examples that fit the outlines of the patterns he touched upon earlier in the course, instead of searching for past charts that had already played out and fit the model he had created.
Lastly some very important basic information not touched upon is the explanation of identifying dips and pull backs. Both are rather important aspects of trading, and mentioned frequently by Steven himself, but he never goes on to explain what quantifies as a dip or pull back forming in real time. Instead relying again on past examples where hindsight is 20/20 and easily identified.
The stock market is a dangerous game to play, and emotions run wild for the many who walk into it uniformed on how to control the inevitable losses every trader will have.
Steven does an incredible job here; he teaches something in his online course that is not normally detailed in most of the trading courses I have come across. All teachers of this particular trade will explain to you the importance of cutting your losses quickly, but what does that mean? Does it mean as soon as your position puts your earnings at an unrealized loss you must get out? What if it’s just a quick price fluctuation, or one of those dips or pull backs we keep hearing about?
In this aspect of the course Steven shines in explaining how risk management truly works and how to cut your losses. He explains how when entering a trade, you must always have a point identified where the pattern you are trading has broken down, and you must cut your loss! On top of this he says something that I myself would have liked to know when I first started, and it’s about understanding that we can’t always control how much we make, but we can almost always control how much we lose.
You can tell Steven understands the importance of risk management, and so far in all my studying I have never come across someone who has explained this topic in such clear and concise terms. Truly helping the struggling trader learn to understand the importance of risk/reward and how it can lead to sustained success. Steven does an excellent job of getting the point of risk management across.
How to Build a Database
In trading circles Steven’s spread sheets are almost legendary. You spend enough time around this kind of work and no doubt you’ll hear about the guy who has accumulated so much data that it can almost be put down to an urban myth.
But here in this course Steven gives us a deep look into his own personal database. Giving a crash course on the importance of keeping up with an ever-changing market and detailing how he goes about it himself.
Steven doesn’t hold anything back here, and the insight into a millionaire trader’s database can be invaluable to anyone trying to maximize their potential earnings in the market. However, I do wish some of the given information wasn’t handwritten… Cause I mean no offence, but his handwriting can be almost indiscernible.
I’ve watched this course five times and I’m still not sure what I’m looking at.
Trading Techniques Course Quality
Steven is a talented young trader and quite obviously very dedicated to his craft. He has an almost endless supply of knowledge about the market it would seem, and you can tell he does try very hard to explain himself.
However, there is an old saying that just because you can do something doesn’t necessarily mean you can teach it. The course can feel like a mess sometimes, jumbled and thrown together with no clear point. Throughout the course, topics can jump around a bit with no clear connection and on more than one occasion Steven has been cut off mid-sentence during an explanation, and the course has moved on to the next segment without ever circling back to the unfinished topic. In fact, one time he seemed about to clarify an important topic of shorting into one of his more challenging patterns before suddenly changing to the next slide.
It can feel like Steven himself is flustered during the course, like he just can’t find the right words. I understand that English is his second language and he might find it challenging at times to correctly express himself, and then when coupled with his accent, it can make for a difficult viewing experience. Because of this I can’t help but feel Steven’s course would have greatly benefited if he took the extra time to add subtitles to his videos. I myself could understand him without too much difficulty, but other traders I have conversed with have had a much harder time than I did, and I know would have greatly appreciated the added benefit of subtitles.
So overall while the information may be there, the production quality was rather poor. Audio quality sounded as if it was recorded with a cell phone and the handwritten slides didn’t do him any favors, especially when coupled with the almost nonlinear nature of the course.
Does the Trading Techniques Course Deliver?
This is a rather tough question, but I would have to say yes and no. Yes, because the information is there, and if you dig hard enough you will find some gold, but I have to say no because Steven doesn’t seem like he’s ready to teach just yet. A great teacher conveys his thoughts in clear and concise ways, guiding his student to where he wants to go. Steven feels all over the place at times and I can see this course being quite overwhelming for any new traders.
Who is Trading Techniques Best For?
Despite its faults, traders from all levels can benefit. New traders can gain a wonderful insight into the new world they are diving into. Intermediate traders can learn more advanced techniques that will help them expand on previously obtained knowledge. And advanced traders who may already have developed their own winning strategies can benefit from a new point of view.
Is Trading Techniques Worth the Money?
I cannot say that this course is worth the $1,200 price tag that it comes with. I have studied 3 other online trading courses and this one had the lowest production quality by far. The information is there, the student just has to dig through it hard enough to truly benefit from it. It’s a worthy first attempt at teaching, but a rough draft shouldn’t command this kind of price, especially when compared to its competitors.
Trading Techniques Alternatives
There are quite a few alternatives out there that can be used in place of “Trading Techniques”. Search YouTube long enough and I’m sure you can find quite a bit of free information for those on a tight budget. One such would be Ricky Gutierrez who has a strong catalog of free information on his channel that any new trader can benefit from.
If you’re willing to pay more though, my recommendation would be “Trading Tickers” from Tim Grittani. Much of the information covered in “Trading Techniques” is covered in that DVD as well, and even despite its relative old age to some of the newer trading courses out there, it still has to be considered one of the best on the market.
On top of this, in an ever-changing market it might be best to skip the online courses all together and join some of the various chatrooms out there. Steven himself even has one that I’ve heard nothing but good things about. Online Courses can get dated rather quickly as the market shifts, but if you’re a part of a chatroom you can be connected to some of the top traders as they shift their strategies to best take advantage of the current market environment.
The Final Verdict
While there is no denying the information is there to be accessed by those dedicated enough to hunt for it, the course can still tend to feel rather overwhelming and confusing. The information can be conflicting with other points later on in the course and it can feel as if Steven can’t make up his mind on exactly what he wants to teach. I still believe Steven is an incredible trader, and the market is a rather confusing and ever changing place, and while he may understand trading I feel as if he hasn’t yet grasped how to convey it to a hungry audience starving for knowledge.
- Plethora of information
- Inside look into the mind of a millionaire trader
- Poor Production Quality
- Steven can be hard to understand at times