- Editor Rating
- Rated 2.5 stars
- Live Traders
- Reviewed by:
- Published on:
- Last modified:
- ValueEditor: 70%
- QualityEditor: 65%
Live Traders is all about real traders making real decisions in real time on the virtual trading floor. Three financial pros trade forex, stocks and options live. They discuss the rationale for every move they make in fast-paced, informative chat rooms where they communicate directly with subscribers. Although access to the forex and stock chat rooms is a high $197 each month, the separate training packages cost average several hundred dollars apiece, making this trading platform a relatively expensive way to master online day trading.
Online day trading success comes from a combination of having the right knowledge and the right mindset. The trading day can be quick, chaotic and even downright confusing. Successful traders don’t just need to know how the technical side of trades works, they also need to understand how their emotions can affect their trading performance.
Live Traders offers comprehensive trading instruction in forex, stocks, and options. They don’t just teach the mechanics of trading. They also focus on how to keep your emotions in control and maintain clear focus throughout the trading day.
The following review covers all the features offered by Live Traders. I took an in-depth look into every aspect of the trading platform, including the member’s areas. You’ll be able to see exactly what it’s like to trade with Live Traders. I also cover all the costs associated with the site such as the various subscription plans.
Finally, I’ll give you my personal recommendation as to whether or not Live Traders is a trading platform which can help you achieve your trading goals. Check out my complete review now:
As the name suggests, Live Traders is all about, well, live trades. They offer a few different live chat rooms where you can watch and listen to professional traders make trades in real-time. They also offer a variety of blogs, training courses, and other educational resources to help you learn day trading. They cater to both new and experienced traders.
There are three different types of trades available: Forex, Stocks, and Options. Each category is further divided into two separate sub-categories. These are chat room access and video training packages.
The basic idea behind Live Traders is that you pay for what you need. If you already understand how to trade forex, stocks or options then you can skip the lessons and only pay for access to the specific chat rooms you intend to use.
There are separate logins for Forex and Stock trading. Here’s what that screen looks like:
Let’s take a look at each:
Forex Trading Chat Room and Forex Instruction
Forex is trading on the Foreign Exchange markets. There’s a lot to learn, but the benefits include quick profits and the ability to trade outside of traditional market hours. Here’s how the Live Traders Forex section is broken down:
1. Foundations and Fundamentals of Forex
This is the basic training program. You’ll learn Forex trading from the ground up with this package of trading strategies including swing and long-term. You’ll learn general strategies and indicators for success. This program costs a one-time fee of $697.
2. Access to the Forex Trading Room
This is where the action is! The live forex trading room lets subscribers watch (and hear) real-time trades from the Live Trader pros. Swing Trading is done by Anmol while Dale provides Forex Analysis. (I’ll go into greater detail about all the staff later on.) You also get access to email alerts, text message alerts and access to the private Live Traders Twitter feed.
In the Trading Room, you can ask questions and interact with the trading pro and other subscribers. You’ll receive a daily guide for trading strategies designed specifically for the current market. Subscribers can also use the AutoTrader Copier service to copy the team’s trades exactly.
This is a subscription service which costs $97 a month. You can also purchase a Forex Combo Deal for an initial $697 with a monthly $97 subscription fee.
Stock Trading Chat Room and Stock Trading Instruction
This is a similar setup as the Forex section; only Stock Trading has three different learning courses. They are:
1. Trading with an Edge (one-time fee of $97)
This series of video lessons covers Basic Trading Principles and Strategies. You’ll learn why and how stocks are traded. This course also covers technical analysis, charts, technical patterns and other strategies. You’ll learn why technical analysis is considered superior to fundamental analysis.
2. Advanced Pattern Recognition (one-time fee of $497)
This is a more advanced course on trading strategies which use pattern analysis. You’ll learn how to create your trading plan or “blueprint.” This involves learning the right time to trade, how to read chart patterns and basically how to kickstart your trading career.
Another important element to this course is learning how to manage the emotional highs and lows which are associated with day trading. You’ll learn how to keep a cool head and not let your emotions affect your decisions on the trading floor.
3. Professional Trading Strategies (one-time fee of $1900)
This is the advanced course, usually only recommended for traders who have successfully completed the previous two. You’ll learn Level 2, sales reading, and advanced order entry and execution.
The focus here is on long-term, professional trading success. You’ll develop a plan to execute within the first hour that the market is open, and then continue with an analytic approach to “win and adapt” throughout the entire trading day.
These Professional strategies aren’t designed for part-time traders or novices. Instead, these are generally the course to take if you want day trading to become your primary source of income.
Stock Trading Chat Room
This functions identically to the Forex chat room. The difference is the product being traded – stocks instead of forex. Access to this chat room is $147 per month.
Stock and Forex Chat Room Access Bundle Package
Interested in trading both? Live Traders offers a Bundle Package which gives you access to both chat rooms. The Bundle Package costs $197 each month, which is a $50 savings.
Both the Stock and Forex Chat Rooms have a similar layout. Let’s take a look:
Even though there’s no in-room activity currently, you can still get a clear sense of how the chat rooms function. The list of subscribers and trading pros is in the left column. The live trading screen, where the pro makes his trades, is in the main black box. Underneath is the chat window with the box you’ll use to enter any comments or questions.
Not too many day trading platforms offer much in the way of trials, so Live Traders earns kudos here. They have a two-week free trail for their forex chat room and another for their stock chat room. Here’s the sign-up page:
This two-week trial costs $7, which seems like a reasonable enough price to check out the both the Forex Room and Signals. However, keep your eye on the calendar. After two weeks, you’ll automatically enroll in the monthly forex chat room subscription plan. This could turn your free trial into a $97 fee if you fail to cancel ahead of time.
Live Traders makes an attempt at transparency, but they fall a little short. Their Trading Results section is an archive of monthly reports. Here’s an example:
Unfortunately, that’s the full report for the entire month. While the information is somewhat useful, it’s also very bare. I’d prefer more description and personal annotations.
Live Traders has a section called Education which is filled with blog posts. While I’d like to see a little more variety in the types of material presented here, to be fair, they do have a lot of blog posts. Here’s a sample:
They have just under 50 posts divided into Education and Trading Room. While these can help augment a trading education, the posts themselves aren’t strong enough to teach day trading from scratch. On the plus side, all of these posts are available to read without a subscription.
What are the Benefits of the Live Traders Chat Rooms?
No matter what type of financial product you’re trading, the Live Traders chat rooms are where you’ll find all the action.
From the moment each chat room opens, you’ll get to watch and listen to the Live Traders professionals as they trade in real time. Entry, stop, and targets are posted along with all real results.
These results include losses, too. The Live Traders team wants you to see real trades, and real trades will include mistakes. In fact, these bad moves on the virtual trading floor are often excellent teaching tools.
Each day the real-time trading activity is used to illustrate at least one larger trading lesson. Expect to see anywhere from five to 10 trades daily.
The Live Traders Team
Most online day trading platforms have a single individual who makes all the trades and creates all the teaching material. Live Traders is a little different. Instead of one person, this platform is run by three. They are:
Jared is the founder of Live Traders. After ten tough years in the rigid, stressful world of Wall Street, Jared decided there had to be a better way to trade. He founded Live Traders in 2014. In the first year alone, he turned $2,000 into over $100,000 with the same training strategies he still uses today.
Anmol originally started day training in college. As with many first-time traders, he didn’t see much of return on his investment right away. But over time he developed effective trading strategies which took him from $0 a week to over $10,000.
Anmol and Jared are co-founders of Live Traders. Today he spends most of his time managing funds and teaching subscribers. He’s also an avid and successful real estate investor.
A former corporate consultant, Jay, began day trading basically for fun. Today, he’s a full-time professional online trader who regularly takes out over $5,000 each month. He claims 95% of his 50 former students are making over $10,000 a month with day trading.
The Pros of Live Traders
- “Real” chat rooms. The traders and community in the chat rooms keep it all very real. They make mistakes. They become frustrated. They bungle a trade here and there. These are all good qualities. New traders get to see what online day trading is really like, and that’s the most efficient way to learn.
- The trading professionals. Three experienced traders is often a huge benefit for subscribers. Aside from specialized instruction, three pros on the team also increase accessibility.
The Cons of Live Traders
- Technical stability. The chat room had problems loading correctly, at least for me. During trading hours I was typically fine, but the chat room had many issues working properly during non-trading hours. I would’ve preferred some Off Topic chat where I could discuss general trading strategies.
- Separate Chat Window. The chat window is a separate window, which I found a bit awkward to navigate.
- Costs. The education videos are high quality, but I can’t recommend new traders spend so much money on educational info which can be found on similar sites for a far lower price. The practice of charging separately for training tools isn’t precisely an industry norm, either.
Is Live Traders Worth the Money?
That depends on your needs and level of experience. The separate packages of training videos cost several hundred dollars each. If you want to go from the introductory course all the way through to the professional course, you’ll spend over a $1,000.
However, if you’re already familiar with forex, stock and other types of day trading, Live Traders has a lot to offer at a more reasonable price. Their combo package offers access to both the Forex and stock chat rooms for $197 a month, which is in the low to mid-range compared to similar platforms.
For those who already know how to trade, I’d recommend using the $7 trial to check out the chat room for yourself. However, if you’re an absolute beginner to day trading, Live Traders is unlikely to be the best site for your needs.
Live Traders: Complete Review
Summary: Live Traders is all about real traders making real decisions in real time on the virtual trading floor. Three financial pros trade forex, stocks and options live. They discuss the rationale for every move they make in fast-paced, informative chat rooms where they communicate directly with subscribers. Although access to the forex and stock chat rooms is a high $197 each month, the separate training packages cost average several hundred dollars apiece, making this trading platform a relatively expensive way to master online day trading.