If you’ve heard of Steven Dux, the widely popular day trader, you must have heard mixed reviews of him. Some sources call him the GOAT of day trading, while other sources call him a fraud.
So who is telling the truth and who is lying? Or are they both right? And if they are both right, how in the world would that even be possible?
Today, I’d like to clear the air about who I, Steven Dux, am, and what I have achieved in the world of finance, most specifically the world of day trading. And by the end of this article, you will be able to make your own determinations of whether or not I, Steven Dux, am a fraud or not, for yourself. And you will be able to take information not just from myself, but from third parties, and make your own informed decision about whether or not I am a legitimate day trader, or just a fraud, for yourself.
When you read about some of the things written about me on discussion forums and across the web, you’ll notice that a lot of people speculate and ask the question: “Is Steven Dux a fraud?”
I’ve never been one to shy away from opening up about my trading, how much money I make, and the profits and losses I go through.
So today I’ll address this question once and for all…
As a newcomer to learning about stocks, day trading, and the people who are educators in the field, I’m sure it gets overwhelming for you to find out about mentors and the speculation that surrounds them. Who should you trust? What if someone turns out to be a fraud?
Who you end up picking to learn from is a matter of your hard-earned money after all.
Here you are ready to invest your time, energy, and money into day trading and the internet tells you the person you want to learn from might be a fraud. It’s worrying!!!
That’s why I’d like to look at a few facts and debunk some myths today, so you can make your own educated decision of who I, Steven Dux, am, for yourself.
Before we get to myself, let’s talk more about the industry as a whole. The first question that comes to mind when it comes to day trading in itself is: why do people even wonder if a day trader can be a fraud? Isn’t this just a profession?
Well, it is. But we also have to acknowledge the fact that trading is a profession where people can earn more money than they would have in their pre-trading life. And yet, 94% of new traders fail.
Additionally, the perception about day trading being a scam also has to do with movies like Wolf of Wall Street. It doesn’t exactly paint traders in a good light, does it…
Then on top of that, you hear a lot of horror stories about people who may have decided to learn from a particular educator within the day trading space, then end up blowing their account or feeling as if the education that they received was lacking. Every now and then, you will even hear instances where people straight up call their educators out as frauds themselves.
To give you a little background of who I am and what my day trading journey looks like, I started day trading in 2016. But before that, my life was nowhere like it is now. I was an exchange student living here in the United States who barely spoke any English.
I moved to America when I was in high school and when I was in college for chemistry and engineering, I knew I wanted to continue to live in America and make it here.
Aside from working in the dorm rooms in college, I wanted to earn more money to live a comfortable life. So I studied real estate but realized that my language barrier made it extremely difficult for me to understand the written contracts associated with the profession.
When I looked into the stock market, I realized that my background in data, charts, and technical analysis, a lot of the things that I was learning in school, would significantly help me if I chose to pursue this path to earn money.
All I had to do was figure out how to be a part of the 6% who actually succeed at it. And it did not come overnight, as I talk about in my origin story (click here to read it).
When I first began trading, I used my tuition money for school and put it into a stock brokerage account. I lost $15,000 within my first month of day trading, which was over 50% of the $27,000 I started with. So I took a loan from a friend, reassessed my strategy, then tried again.
I took my account to $60,000, lost half, then by the end of the first three months, I made $900,000 in profit.
Times were rough back then, especially when I was honing down my strategies to really understand and get used to the psychology behind how the stock market works. But as time has progressed, I’ve been able to consistently make over a million dollars a year trading each year to date. As I’ve spent so much time day trading and refining my strategies to date, there have even been months where I’ve made over a million dollars—to over a million dollars in a singular day—trading stocks you may be familiar with like AMC and Game Stop, to trading stocks that you may never have heard of, like DWAC.
Because I’ve been in the educational space for so long sharing videos on YouTube, writing my blog, and teaching educational programs, this is where the speculation of me not being the real deal comes from.
How did I do it?
How did I do it so quickly?
Surely there must be something going on…
Let’s address some common myths and thoughts that a lot of people who encounter me for the first time think about.
Let’s dive in…
1: Does Steven Dux Actually Trade Himself (And Consistently Make Good Trades)?
One of the reasons people assume (or wonder) if a trader is a scam artist or fraud is when they’re not sure if that trader even trades themselves.
It makes sense.
There are people out there who are educating others on the stock market, but they haven’t made their own trades for a year, sometimes half a decade and some haven’t even day traded for the past decade.
What these educators are teaching tends to be dated strategies that no longer work because the ones teaching these methods are so distanced from actively participating in the stock market that they’re unaware of whether or not the strategies that they are teaching are still working under the current market conditions.
Then there are day traders who may have gotten lucky one time with one huge trade, then decided to create an educational course because they made millions, but these educators are usually charlatans who got lucky and know they did exactly that.
Then on top of that, they try to maximize their returns from that one month of trading by selling an educational product, because they know they won’t earn profits in the stock market if they were to enter into it again.
Then there are other educators who haven’t made a single trade in their lives and still create courses for the general public to consume, who are straight out trying to defraud the people who buy into their products.
Understanding the landscape and the backgrounds of these educators, I knew that I needed to do something different when I first started my trading career.
When I first began trading in 2016, I made sure to verify all my trades and upload them to sites like Kinfo and Profit.ly. These sites allow you to connect them to your brokerage account and upload your trades into them, so they move over and verify all of the trades that have been made, so each person who uses these sites has all of their stock trades listed in the platforms.
So many people want to only showcase their wins, but sites like these track both the wins and the losses, then on top of that, they allow users to the site to go through and look at the history of each and every single trade that was made, to see the realized gains and losses for each position and ticker that was traded over a period of time, when the information was last uploaded into the system.
I personally decided to participate in these sites from 2016 to the end of 2021, so people could see that I consistently earned profits year over year and that my trades weren’t a one time fluke, and to show people that even as to date, I am still actively involved in the stock market myself.
Here is a snapshot of my Profit.ly profile:
This means I need to enter my account information and then data is pulled from the broker into Profit.ly. Once this happens, the trade has a checkmark next to it like in the following picture:
I also update my trades on Kinfo. If you scroll down through the link here you will see each and every trade I have ever made since the beginning of 2016. As you can tell, Kinfo verifies trades in a much similar fashion to Profit.ly.
In addition to verifying my trades on these platforms, I’ve always made it a point to release my account statements up until sometime in 2021, when my profits started to become too high to share.
Here are some account statements that I have shared publicly in the past.
January to August 2020 TradeZero brokerage account statement:
havent post statement for a while
+2 million on tradezero so far this year.
market kinda slowing down in the summer as usual pic.twitter.com/D0YBRgAnFJ
— stevendu (@Steven1_994) August 1, 2021
July 2020 TradeZero brokerage account statement:
july account statement
+450k on trade zero in july pic.twitter.com/sqAOGxPZwZ
— stevendu (@Steven1_994) August 4, 2020
August 2020 TradeZero brokerage account statement:
+210k in August not much going on this month
but its good to take a break sometimes pic.twitter.com/fGfIPofjOB
— stevendu (@Steven1_994) August 29, 2020
June 2020 Guardian brokerage account statement:
+1.15 million in June (account statement) pic.twitter.com/cSlRcNJFl2
— stevendu (@Steven1_994) July 6, 2020
December 2020 TradeZero brokerage account statement:
— stevendu (@Steven1_994) February 20, 2021
January to December 2020 TradeZero brokerage account statement:
2020 is the year I crossed the 10 million dollar mark. Still can’t imaging make 100 per trade to now 1.4 million a month. Thanks to all my friends who supported me during good times and bad times pic.twitter.com/c5i6DJtIN7
— stevendu (@Steven1_994) December 31, 2020
I started posting my account statements in 2019 as you can see here:
May account statement pic.twitter.com/tTcAogdWUW
— stevendu (@Steven1_994) May 26, 2019
Since people didn’t really believe whether or not the account statements were real, in 2019, I searched for a financial professional to verify my account statements with my brokerage.
In 2019, I got my account statements verified/audited by a certified CPA from the Bahamas.
I documented it here in this video.
Prior to 2019, I posted my gains on certain trades just like many other stock traders do. But there is a flaw with that kind of approach, especially when you want to present yourself as an educator and mentor in the space.
Let’s say you were to theoretically make a large amount of money as I did in October 2021, where I made $6 million in a day.
The next day, you could theoretically have lost all the money you have earned, which many day traders end up doing. With a society that’s embedded into sharing highlight reels and the very best moments, many people on social media only indicate their wins and not their losses.
By sharing my account statements in the past, I wasn’t indicating whether I was a trader who was able to only win some of the times. I was able to document and share my consistent trades that ultimately led to profits while allowing the losses to be indicated in those statements as well.
When you think about other traders, mentors, and educators in the space, you have to ask yourself a few questions.
- Are they trading for themselves?
- If they are, are they only posting their wins?
- How many of them verify their trades?
- And how many of them are sharing their account statements?
These are important questions when deciding if a trader is the right person for you to learn from.
So I don’t get upset when people question if I’m the real deal. It’s good that you take the time to figure it out.
2: Isn’t Dux Just A Student Of A Famous Day Trader?
When I first heard about day trading, I didn’t know much about it.
I felt overwhelmed with all the information out there and was unsure who to trust. All the so-called “experts”… who was the real deal, and who was just a scam artist? I had no idea.
So, I decided to do my own research. I bought books, read articles, watched videos, and completed seminars and courses. I did this for hours every day. I invested a small fortune into courses, books, and seminars.
Every penny I had went toward learning my craft. In a way, I became my own teacher because I decided to gather all the data available, sort through it to find what is relevant, and taught myself how to trade through a lot of practice.
I purchased courses from every single recognizable course creator at the time. However, since I went to school for engineering, I was taught to go and test data and models to see whether or not they worked. I backtested all the strategies that were taught to me within the courses that I took. I tried these strategies to figure out which ones worked and which ones didn’t through two methods: by paper trading and by accumulating large amounts of historical data and running them through formulas on Excel.
What I found was that almost all of the strategies had a win rate of less than 50%—which just didn’t cut it for me. Especially more so when it comes to the free public resources of stock trading strategies that you find readily available on the internet through free resources and websites.
For me, a strategy can be said to work if it leads to a win over 65% of the time (with at least consistent returns of 20-35%).
These are numbers I have arrived at after immense practice and experience.
In high school, I got into this habit of condensing what we were being taught into what was most important. A lot of what we are taught is not really useful. So in order to save time to play more video games, I got into this habit.
I guess that habit stuck because I did the same with trading courses.
I wanted to learn as much as possible in as little time as possible.
I had to make it work. I knew immediately, trading stocks suited my personality.
I pieced it all together after hours of studying the markets.
It sparked within me a need for experimentation and questioning everything. If this works, why? If this doesn’t work, what could I have done better?
Each advice, tip, or system I consumed led me to another. I was constantly discovering new insights and skills every day. I understood that, at the end of the day, trading stocks comes down to counter-strategy and knowing the numbers.
I continuously learned other people’s strategies and tweaked them based on what worked and didn’t. Every day for months I would pick up other people’s strategies, break them down, pull them apart, test them on the market, and refine the process.
Of course, this was not easy or quick. This took hours and hours of studying and practicing. Based on my experience, I was sure that this is not sustainable for every trader to do, and that’s what inspired me to create the Freedom Challenge in the first place.
3: Is He Going To Make Me Buy Scam Stocks Or Pump Up A Stock And Dump It On Me?
I never tell my students what stocks they should or shouldn’t buy. The way I teach, I don’t tell my students to buy anything specific. At all.
I teach them how to read graphs and charts and identify patterns. I teach them how to follow strategies. I give them my advice on what to avoid doing so they don’t blow their accounts. I remove all the ambiguity and confusion that surrounds stocks and help people learn about the market in the most efficient way possible.
But I understand where this apprehension comes from.
Many course creators compel others to buy certain stocks in order to lead them into a “pump and dump.” This is when they boost the price of certain stocks and they use this to their own benefit. Pump and dump strategies are manipulative (not to mention, illegal!!)
How this usually works is simple. A course creator or so-called alleged educator will buy a particular stock that trades with significantly low volume and a low market cap. Because these two indicators on the stock are so low, the price can be manipulated to move up quickly through a small volume of orders of the particular ticker.
They then promote the tickers of these stocks to the people they’re “teaching”. These alleged “students,” or as I would like to call them, victims of fraud, end up purchasing the stock thinking that it will be a winner in their portfolio.
The students watch as the stock continues to rise. Close to the end of the day, the course creator then unloads the shares they purchased and takes a profit. The stock then goes down, so the victims of the fraudster’s “pump” of driving the people who follow their stock advice end up holding the bag when the stock “dumps,” which it almost always does, with almost all of the victims taking losses on the particular stock.
I do not recommend any particular stocks, at all. I also do not trade stocks under $5. I have gone into the reasons for this in detail in this video.
Over the last few years, penny stocks have gathered a lot of attention. The famous Hollywood movie, “The Wolf of Wall Street” started a dialogue about “pink sheet” stocks and how investing in them is often a huge scam (which most of the stocks on the pink sheets are).
Reputable stocks are traded on the Nasdaq and NYSE exchanges, and that is where I trade and where I teach my students to trade.
My recommendation to students is that the OTCBB and the Pink Sheets are not the best platforms to use for trading penny stocks. The reasons are that there are fulfillment issues, you could get stuck in trades, there are delays in timing, and other issues.
It’s recommended to steer clear of the platform and stick to trading on Nasdaq, which is a much more reliable platform and doesn’t come with the setbacks one would encounter on the OTCBB or the Pink Sheets.
If you see an alleged educator promoting stocks that are on the OTCBB or the Pink Sheets, run in the other direction.
When I started, I had to take the long route. I started teaching because I didn’t want other people to go through what I had to. After hours and hours of practice, I developed strategies I wanted to share with upcoming traders so they could maximize their profits.
I’ve condensed everything I’ve learned over the years into my courses.
My objective now is to help people avoid the scams out there and succeed at day trading for real. I know that success is possible in this industry; my students and I are proof of that.
But without the right guidance, it’s easy to get disillusioned or even scammed by people who don’t have your best interest in mind.
My objective is to train people through education, not hype them up to fall into situations that would end up causing them to blow out their accounts.
4: He Surely Just Preys On His Students To Make Better Gains For His Own Trades, Right?
Let us first understand what a pump and dump strategy really is…
Many times, promoters “pump” up the stock price of a bad or unknown company by using certain tactics. These tactics are… hyping up the company using free penny stock newsletters, PR articles, and the most commonly used one these days: social media.
Suddenly, headlines appear everywhere that have too much chatter about how this completely unknown company is the new super cool company that you must invest in and why you should not waste anymore of your time.
And yep… all the advice tries to convince you to buy its shares.
But if you read carefully, it becomes clear this talk about the company is full of fluff without any real information about the company. Sometimes, people take big positions in these companies and get their stock promoter friends to hype up their company’s reputation.
And now when the company’s stock reaches an (artificially) inflated level, they “dump” these stocks at a huge profit. The stock price then goes down and the investors are left high and dry with a huge loss in their hands.
Try not to fall for these scams and be very careful about every decision you make as soon as the trading day begins.
It helps to have an experienced and active mentor who guides you through the process to make sure that you earn the right kind of profits.
Picking the right kind of stocks is one of the most important steps in Day Trading.
If your stock selection is off, profits are hard to come by.
The thing is, you cannot possibly monitor all of the stocks all of the time with the objective of picking from them. There are just far too many.
If you think you can do this manually, there’s no chance.
So how do I keep an eye on the right stocks to pick the best one? I make my own watchlists. A watchlist is a set of stocks that one can monitor for potential opportunities. Creating a watchlist is an essential aspect of my daily routine.
5: Doesn’t Dux Lose A Lot Of Money Because 94% Of Day Traders Fail?
It is common to lose money while trading. It’s just a part of the game.
You cannot win every time, but we can limit our losses and maximize our profits.
I would happily tell you if I would have reached a point where I no longer face losses, but no one ever gets to that point—not even the best trader in the world. It’s impossible to never take losses from trading stocks.
You have to instead mitigate your risk and focus heavily on technical analysis.
If you’ve had time to look through my YouTube channel or my Instagram, you can see I’ve had quite a blessed life thanks to trading. But what people don’t realize is that there are hard days and losses too that happen behind the scenes.
Day trading is not a get-rich-quick scheme. It’s a long, difficult road filled with lessons, 94% of people in the market get wiped out. The trick is to stay in the other 6% by managing your losses.
In the world of day trading, each loss is a stepping stone to making a greater profit. I don’t feel that losses are necessarily a bad thing. They are an essential part of the journey that everybody has to go through. In fact, I’d say the key to my success has been to learn from my mistakes and turn them into opportunities to reassess and strengthen my strategies the next time around.
In May of 2020, I realized there was a major shift in the market and that I needed to readjust my positions, and because of this mistake, I was able to have one of the most profitable months in my entire trading history—breaking the 7 figure mark in one calendar month and earning an astounding $1.15 million (read all about that here).
You’ve seen the screenshot for this month of trading earlier in the article where I shared the screenshot of my June 2020 Guardian brokerage account statement,
Mistakes compel you to take a second look at your strategy. This is precisely how you adapt and how you level up your life and career (so long as the strategies you choose work more than 65% of the time).
I teach my students how to make their own watchlists, perfect their own strategies, and not blindly follow what I do—telling them which specific stocks to buy has never been my style.
6: What If He’s Just Showing A Large Amount Of Profit But Then Losing It All The Next Day?
The journey I’ve had so far has been full of both losses and profits.
It’s the sheer fact that I maximize my profits that I have a good portfolio today.
And each of these wins and losses, I have documented.
I’ve also shared multiple screenshots of my account statements throughout the years, like the one seen below, which summarizes my monthly trades for January and February 2021.
To learn more about how to read a brokerage account statement and what all of the fields mean, read here.
It’s virtually impossible to be cost-effective with every trade; that’s why you must be far-sighted enough to keep your losses low. In many years as a teacher and mentor, I’ve noticed something more devastating than the losses can be how we deal with them.
So yes, even I face losses from time to time.
The difference lies in how I deal with them.
I know what to do next, ensuring my losses don’t stack up. So although I experience both wins and losses, I achieve more wins because of my mindset, approach, and skillset. This doesn’t just happen. It’s taken time to develop all this.
This is what I teach my students; not just the skills, but how to use these in good times and bad.
7: Aren’t His Cars Rented?
I do not rent my cars. I own them. I like them. I’ve always had a passion for them.
Check out this recent video I did of my house tour and you will see some of my cars too…
Recently, I bought a Lamborghini Aventador SVJ. Other than that, I’ve owned a few other cars. Some of those include a McLaren 570S, Ferrari 488, Lamborghini Huracán, Koenigsegg Regera, and the Rolls Royce Ghost.
I like these cars and the profits I have earned over the years have made it possible.
Year after year, even with losses and tricky market situations, I’ve managed to emerge with profits over a million a year—and recently, even $6+ million in a single day.
The numbers speak for themselves.
8: But Don’t A Lot of People Call Him A Scam?
When you’ve achieved a certain amount of success and have something to show for it, there are always people who talk negatively about you.
If people are talking about you behind your back maybe it’s because you are two steps ahead of them. There are a few types of people who claim I am a scam, so let’s go through them one by one to discuss how their claims do not stack up!
There’s the general public that has a perception in mind that some course creators run scams—but it’s mostly because they think day trading itself is a scam. The same goes for people who teach real estate courses.
When people see other people earning large amounts of money, they are unable to fathom that it is actually possible to do this. So they resort to a preconceived bias within themselves and automatically dismiss anything that looks remotely close to this as being a scam.
It’s human nature and just a part of human psychology.
Very few people actually take the time and effort to seek through multiple data sources to discover whether or not someone is a scam or not and will just go off the first inclination of what they see. It’s how people are. Nothing can be done to change the opinions of these people because a person convinced against their own will is of the same opinion still.
On the other hand, some of the people who fall into this category can see substantial amounts of proof within regards to this topic, then still dismiss a person off as being a scam. They just aren’t willing to believe something that doesn’t align with their reality. And it makes sense. Life is extremely difficult for a lot of people in the world. If all they are accustomed to seeing in their real lives is tragedy, pain, and misfortune, it is extremely difficult to see the world outside of that lens. And anything that reflects differently to these perspectives leads to being a scam.
But that’s the person who goes off and calls me a scam from a first glance or has a preconceived bias that makes them act this way.
There are other types of people who will make that kind of insinuation as well.
Some people who say that all the profits I show are a scam are mostly unaware of how the industry works and have a superficial view of trading. They have never taken my courses and say these things based on their own perceptions.
These perceptions come from the various things they’ve heard or read about trading: from the movies they’ve seen, rumors they have heard, etc…
They know over 94% of traders fail, and while that is true, it does not mean trading or any course creator is a scam.
They have also heard big investors like Warren Buffet say that holding stocks forever is what works best but this does not work for small investors. Most people don’t have $100,000 – $200,000 to invest. Reading about tycoons like Buffet can make you think those big investments are the only way to go, and that other smaller forms of investment are scams. The truth is, people need to begin with micro-cap stocks/day trading because there are fewer barriers to entry.
It’s a level playing field… You can go in with a small amount and start making good money within weeks.
Many people are not aware of this and end up assuming day traders are running some sort of scam. This is a nuanced subject and because of their lack of awareness, they believe these claims.
It is easy and human to sit on the outside and make speculations, but the data speaks for itself.
9: But I Saw a Lot of YouTube Videos Where the Host Was Calling Steven Dux a Scam Artist
YouTube is a great platform. There are so many channels on the platform that are designed to entertain the followers of each respective channel. And YouTube creators love doing whatever they can to maximize the number of viewers they can have on the content that they create, so more people watch their videos.
This is how they get paid for the content that they create.
By driving more viewers to the videos that they make.
One highly popular way for content creators to get more viewers to watch their videos is to talk about someone who is recognizable within a field that many people pay attention to. I just happen to be a recognizable person within my field, so a lot of attention is drawn upon me, so people who either follow or know of who I am can be brought into watching their videos, out of curiosity.
As you’re personally doing your own research as to whether or not I am a scam or not, you’ve probably stumbled across these videos yourself.
These videos are designed to build up speculation within whether or not someone is credible and ultimately to bring clout to the person who created the video, not to the subject matter of the video.
That’s fine and these content creators could say what they want to say, but we cross-reference these YouTubers with our students who are in the Freedom Challenge. None of them are.
Throughout the years, YouTube has become the go-to site for upcoming traders when they want to find out about certain trading courses and which one they should go for.
Naturally, many of the other educators in my space, who usually fall within the aforementioned topics above, also have taken to YouTube to undermine other course creators. The intent of talking poorly of other course creators for these people is to sell their own courses. And they feel that if they undermine all of the other people who are educating in their fields, then they will be seen as a source of truth. They do this because they want you to purchase their courses from them, and to take away from other educators who have already built an entry point for the new stock trader who enters into the market.
It’s a deceptive marketing technique, yet a marketing technique nonetheless.
If you hear something you want to believe from another educator who doesn’t have nearly as much influence or a track record of success, that is more than up to your own discretion. I’m not going to stop you from believing whatever it is that you want to believe.
On the other hand, if you look at my YouTube channel, you’ll notice my content is purely educational. I don’t sell anything on my channel. I just provide insights, tips, and advice.
And a video here and there about my life. That’s it.
As a course creator and mentor, sharing knowledge is what I focus on, as opposed to many other YouTubers who only focus on underminings for their own personal objectives, whether it be to earn more from ad revenue, gain clout, or to sell their own educational services.
The nature of our industry is that there’s always a competitor trying to one-up you; there are always people saying your success isn’t real and there has to be something fishy going on.
It is part of the deal because they would prefer to get their hands on the students who turn to you. Sadly, their method of selling their own courses is to badmouth other course creators, instead of backing up their claims with data.
They do not have success stories of their own or their students to show you.
It’s easy to create clickbait thumbnails calling someone a scam.
But if they had done a little bit of research into what my numbers are, their claims would fall flat.
A bunch of these competitors have created a ton of articles and videos about how other course creators are scams but they themselves are selling courses.
In their videos, these people who claim I’m a fraud continue to say this is their “opinion,” but opinions are based on judgment and perception, not facts.
Facts come via numbers and those are out in the open.
I’ve also personally reached out to a few select groups of people who have called me out on their show, like CoffeeZilla. He never responded to my inquiry, because he’s scared to be proven wrong about who I am on his own show. Just imagine how embarrassing something like that would be for someone like him. To have been beholden to a belief, promoting that belief to an audience, then being called out as wrong on your own channel. That would completely shatter his ego and self esteem, so we let him be.
On the contrary, I did a video with Jubilee where they did a social experiment and had a lot of people ask me questions about what it was like to be a millionaire.
A popular YouTuber by the name of Graham Stephan reacted to that video and made a scuffing remark as if turning $27,000 into $3 million was unlikely to have happened.
Graham actually took the time to sit down with me and we walked through my account statements and discussed my journey as a trader. He asked me a lot of difficult questions to get the facts straight. And within that video, he asked me about the aforementioned $6 million day I had in October.
I actually had flown in to see Graham the same day I made that trade when I was in Las Vegas. He asked me where the stock would be the next day. He tossed out some speculative numbers. And I told him it would be within a certain range. The next day, the stock hit the exact range I told him it would be at. Watch the video below to see the full interview, or fast forward to the timestamp of (insert timestamp) to see the exact moment where the stock prediction occurred.
I’ve also been on other channels like:
The Fung Bros
And more, where I’ve discussed day trading and how it works and shared my account statements with them.
10: But Doesn’t Steven Dux Get Bad Reviews On Third Party Review Sites?
In a perfect world, third-party review websites would be unbiased in opinion. The sites are set up to make reviews so people can use the information within those sites to make an informed and well-thought-out decision of whether or not someone is legit or not.
The problem is that when it comes to the world of finance, there is a lot of money that is involved. Some third-party review sites will make reviews of certain programs and course creators better than others by either accepting a bribe or trying to extort the course creator for monetary compensation into changing the grade that their course was given.
Trust me, I know. I’ve been the victim of these extortion schemes but I refuse to pay them to change the reviews. And if I’m being extorted and given low scores for a legitimate program, then you have to imagine whether or not the other course creators were given flying high colors because they handed over a significant monetary donation to the owners of these sites.
Now not all third-party review sites operate this way.
Some of them do operate legitimately, but they are few and far in between.
One of the legitimate financial course review sites however is Trading Schools. They do not accept bribes. They do not extort people to write reviews. And they actually thoroughly take the course and go through all of the information within the course.
You can see their review of my course here.
Regardless, it’s up to you to remember that the internet is full of varied opinions and misleading thoughts. You have to think about the agenda behind every single person who is leaving any kind of statement, whether positive or negative, and come to your own conclusion of whether something is legit or not.
It’s up to you to make sense of this (mis)information.
It’s important to take some time to summarize what you want to achieve from day trading and to create a map of what your future looks like.
11: Steven Dux Messaged Me On Social Media (Instagram, Twitter, Facebook, TikTok, etc.) And Asked Me to Invest Into His Account Management Program. Is This Legit?
This is 100% a scam.
This link leads to all of our official social media channels: https://linktr.ee/Duxtrading
I will never direct message (DM) you on any social media platform. If you receive a DM on social media, check the username closely. You will be able to see that a digit or a letter or an underscore or some other indicator is off.
These accounts are run by scam artists who know that I am a legitimate day trader and educator, and they want to leverage my credibility into their scams so they can take money directly from you.
I will never ask you to send me money.
I will never offer to manage your portfolio.
I will never ask you to do anything.
The only official source of correspondence from the Steven Dux team is by email and we communicate directly from email@example.com. Any other profile that is sending you a message on social media is 100% impersonating me and is 100% a scam artist.
12: Most Of His Students Fail, Right?
It’s easy to assume that my students fail. Especially when you think of the landscape of day traders who are selling courses out there. Earlier, we uncovered the fact that a lot of people who are selling courses do not actively trade themselves.
We also uncovered the fact that there is also a group of course sellers who put people into pump and dump scams. On top of that, we discussed how I had backtested the strategies that these course creators promote in their programs, and how I had unveiled that the majority of these strategies had success ratios that were under 50%.
So with what you can find from many of the educational sources out there today, it’s easy to assume that most students who go through a program will fail.
On the contrary, even with the right education from a reputable source, there are a lot of people who do not succeed when it comes to day trading. That is because to become successful at day trading, it takes education, skill and discipline. Not many people can hold things together when it comes to discipline.
Whenever somebody signs up to become my student, there’s one thing I make clear from the very beginning: That (on average) it takes a year of studying and practicing the material you are taught through paper trading, before you can get proper results with day trading!
Many students will fail because they will get ahead of themselves and want to trade before they are fully versed with the subject matter and all of the intricacies of how the stock market works. Others are unable to stay disciplined. Many begin to overtrade and blow their accounts.
Some people will not listen and try to do things their own way, like trade on margin accounts with borrowed funds as opposed to what they have and are able to risk. But even with all of the natural reasons that day traders tend to fail, my students do see a 20% success rate, which is significantly higher than any other mentor who is educating their students through courses.
Some of my students have gone on to make over 7 figures.
Recently, 3 of the top 8 traders on Kinfo are my students.
To help further the education of my students, I went through the trades of two of these students. I suggest you go through this video and see how I reviewed their trades.
You could also check out this article where I stress the importance of such reviews.
Whether it’s because of the circumstances in their life or lack of patience, it’s common some students will not stick in the race for long enough. That is just human nature.
To say they failed because of the course would be unfair. The course has been designed to give results when someone puts in the hard work and dedication. The results are out there to see.
13: Doesn’t He Make More Money From His Course Than He Does Trading?
This is a common misconception because why else would big traders create courses?
It has to be for the money, right?
Well, I can only speak for myself … But I teach because I want to give back.
When I first started day trading, I wished that there was a source that I could go to that has the information that I have acquired to date. I had to sort through so much information from so many places, then go and validate whether what I was being taught was legitimate or not.
The frustration for what I went through was devastating and it breaks my heart to see others have to go through similar instances. What bothers me the most is when I see other people who get into day trading go out there and blow their accounts.
Ultimately, what I want more than anything is to see people who enter the stock market succeed. And the only way they are going to be able to succeed is through having the right material to study. People who go into the stock market need to understand so much more than the terminology of how things work and how to read graphs and candlestick charts and so forth.
They need to be prepped with strategies that actually work and need to learn how to identify and recognize patterns. They also need to have someone with whom they can bounce questions off of when they are uncertain about whether or not they are doing the right thing.
In my Freedom Challenge, on top of the prerecorded material that covers the basics and intermediate levels of trading, I also live trade with my students every Tuesday and Thursday.
On these days, my students get direct access to not just myself, but each other. My students are able to watch how I trade throughout the day and ask me questions, and the group questions as well. By having this face to face time, they’re able to get direct access to myself and learn the insights I have acquired over the years.
When it comes to the finance side of the equation, day trading pays me way more than my courses ever could. It always will. There’s no question about that.
After all, I made $6 million in just one single day of trading in October 2021.
Most people assume that any trader who is successful will not teach you the secrets to their success.
That’s not true at all.
A good teacher is happy to guide you because of their passion for teaching and giving back to the community. This is why I decided to create The Freedom Challenge.
I thoroughly enjoy my role as a teacher and mentor.
But at the end of the day trading is (and will remain) my main profession.
14: Isn’t The Course Designed Just To Scam People And Make Money Off Of Them?
The objective of my course is education.
I found this world of trading after much deliberation and it proved useful in changing my life.
A lot of people find the same fascination within the stock market that I found when I first discovered it myself. I want to share what I learned about it with as many people as possible, so they don’t end up blowing their accounts and being part of the 94% of day traders who fail.
It’s been quite an honor and a humbling journey to go from being an engineering student to becoming a day trader, then to becoming a teacher in this field. I’ve loved every part of my journey up to this point and I feel I will continually do so as time progresses.
My aim is to dispel the myth that you have to live in your office to be successful in your career.
That there are more career options beyond the 9-5…
Most people are doing jobs they do not enjoy. A worldwide poll conducted by Gallup revealed 85% of people are unhappy in their jobs. Work is a huge aspect of life that gives us a purpose, but sadly, for many, it’s become a source of dissatisfaction.
Many people are searching for novel ways to make a living (and achieve financial freedom) and because people already have a fascination for the stock market, I want to ensure they have the best possible education when it comes to their trading careers.
Especially after the pandemic and with inflation being quite recognizable in our everyday lives, people have gone through a mindset shift when it comes to their careers. They are looking for more profitable avenues to earn a living from.
My aim as a teacher has always been to educate people about day trading.
At the end of the day, they have to make their own call if this is the right industry for them.
Once they have made the decision to start trading, I don’t want anyone to waste the time and money I did.
The aim of my course is to eliminate this process and help new traders start faster and better than I did. This has helped some of my dedicated and passionate students to achieve numbers beyond what they would have if they did this by themselves, or even with other courses.
One of my students took a course by an extremely popular day trader who has been in the industry for over a decade. He didn’t see any success with him. But once he took my course, it just clicked for him. That’s because I take much more of a data-driven approach when I’m educating my students.
Results like this, and the aforementioned results of the two other students on the Kinfo leaderboard I referred to earlier in the article, are worth looking into because it shows these kinds of profits are possible with the right kind of training.
A lot of these success stories exist, and at the same time, there are students who give up before they can see proper results. Day trading has given me a lot to live a blessed life and I want to pay it forward. My students have become my community and I feel fulfilled when they thrive.
Your Next Steps…
So what do you think? Is Steven Dux a scam or not? You’ve probably made up your mind by now. But if you haven’t, there are some other things you should do.
I understand there are a lot of questions in your mind about where to start, who to trust, which course to invest in… They are all legitimate questions to ask as a beginner.
Before you buy anyone’s course, make sure they’re transparent about their own trades, share their account statements, and have a good track record.
Make sure they are someone who talks about data and statistics and not just hype.
Steer clear of someone who tries to sell their course by only promoting the lifestyle that comes with being a successful trader. While the fancy vacations and exotic cars might be nice, you have to ensure that your educator is not earning the majority of their money from their courses, let alone the stock positions that they influence their students into taking.
You have to ensure they are a successful, legitimate trader themselves.
Do your own research and trust your own judgment.
If you’re keen on learning more about day trading, check out this Investing for Beginners series. I’m devoted to mentoring beginners in order to make day trading your primary source of income. I also invite you to take a few further steps with me:
- Subscribe To My Youtube Channel: this is where I share practical day trading tips and training on how to trade, as well as behind-the-scenes insights into the trades I make.
- Join My Newsletter: I write these emails for people who want to learn the basic Day Trading Tips and the practical steps they should take to get started.
- Join The Freedom Challenge: This is my flagship program for traders who want to level up and learn about the techniques I use, how to use them, and what to do to turn Day Trading into their primary income stream.