Tradebuddy.net is a Private Trading Academy (PTA) operated by an unverified trader called Tony Ivanov.
This is not what we envisioned at first and so we’re abet skeptical including this one into our list of recommended trading products and services.
It even makes a lot of sense investing in managed portfolio accounts rather than taking the learning curve because this is where we fall into the hands of charlatans.
Now, the trading educator at TradeBuddy is running this business from Los Angeles, United States and claiming to be an accomplished stock trader.
In fact, Mr. Tony Ivanov describes himself as a technical analysis and trading psychology trainer.
According to Mr. Ivanov, his mentorship will accelerate your journey to day trading success.
In fact, everybody can be a trader as long as they pay the subscription fees that TradeBuddy is asking for.
Tony Ivanov also provides “top of the line education content to 1000 students”.
TradeBuddy.net even provides “free content” to hundreds of thousands of students out there.
We do not know who these students are and we don’t want to rely on fraudulently produced testimonials.
A quick traffic audit shows that Mr. Ivanov’s website currently receives less than 150 visitors per day.
It’s not even possible to enroll thousands of students from a website like Tradebuddy.net. Where does this vendor get the traffic from?
And of course the mouth-watering “testimonials”. There is something that is not right about these supposed reviews and testimonials from “customers” of TradeBuddy.
Chatroom access costs $97/monthly or $948 annually. And then the “lifetime” plan requires students to folk out $1497 yearly.
What exactly is included in the TradeBuddy subscription program?
According to the sales page, Tony Ivanov will provide hundreds of recorded videos, one-on-one mentorship, personalized trading review, small cap and options trading strategies, daily review of the stock market and trade recaps, daily hot stock list and trading plan, live Q&A sessions and of course unwavering all-round support, 7 days a week.
This YouTube channel will give you an idea of how Mr. Tony Ivanov looks like.
TradeBuddy.net was set up with a clever sales copy from every corner of the website.
And if you are a rube, it’s very easy to get along with whatever information you’re being fed with through the sales pages.
There’s also some reference to tape reading. I will discuss this later on.
Currently, students who want to join Tradebuddy can try it for 14 days and of course this is not a free trial. It is a financial commitment.
In addition to this, Mr. Ivanov claims he has a moneyback guarantee.
We stopped believing these guarantees long time ago especially where vendors with unverifiable track record are involved.
Is TradeBuddy even legitimate?
At this point, I am concerned with the question of whether or not this vendor trades a live account.
He uses his Twitter page (Mydailygains) to post a mix of general trade advice and philosophy.
By posting this stuff on social media, he believes that this will help him achieve some credibility.
The key highlights from his sales copy is that he trades pullbacks and also does some tape reading.
While pullbacks can do wonders if a sound trading plan and strategy is involved, the proof is always in the pudding when any trading educator sells you this idea.
However, I do not know whether to believe tape reading. It’s ridiculous.
If you have ever seen the order book, you know how numbers flash before your eyes faster than you can figure out anything.
Some people who tape read claim they can get secret information that others just won’t see.
It is almost like mystical stuff where some charlatans claim they can see where the market is heading by just glancing at the order book.
Their idea cannot be quantified or backed with any science. Ultimately, tape reading is not something that can get back tested or validated.
Therefore, when you see any trading educator making reference to tape reading, they are clearly scamming you.
Does Tony Ivanov of Tradebuddy really trade?
This is a good question but the answer is that he doesn’t. We’re not even sure if he maintains a live brokerage account either.
This is why he went on a rampage to back his claims using shady testimonials.
Why is he even afraid of showcasing his redacted broker statement to prove that he is an accomplished stock trader?
The answer is simple; if he can show you mouth-watering reviews and testimonials, you will believe him without asking any further questions.
Any sales page with a hypothetical performance disclaimer at the footer is obviously a scam.
If you are a successful trader, producing a redacted broker statement even for 2 months only will be the simplest request to honor.
There is no absolute reason to recommend TradeBuddy or any of its affiliate services.
In truth, I cannot tell whether the owner of TradeBuddy is a professional stock trader or a mere charlatan.
Maybe even Tony Ivanov is not sure of the answer.
However, one thing that I am absolutely sure of is that if you will send Tony your $1497, you will be acting purely on promises.
The bottom line is that not all trading educators are bad.
There are many who will have zero proof of their trading success while not so many will accompany their claims using verifiable trading statements or some sort of disclosure.
Thanks for reading.