Welcome To ‘Steven Dux Chat Room‘ Review!
You may hear of Steven Dux who is the famous penny stock day trader. Steven has many programs that teach the knowledge in day trading.
This review is dedicated to his chat room. I had joined his chatroom for 6 months and later I quit because I found a more stable way to make money. Not only that, I decided to quit because I lost faith in Steven’s truthfulness.
I will reveal what I found about his proof of income that causes me to quit.
Who is Steven Dux
Steven is the infamous day trader who makes $1 Million from $27,000 in a year by trading penny stock. He was an engineering student in Ohio and he later found out about penny stock through Timothy Sykes’s marketing video.
He trades differently with Sykes. Dux focuses on shorting penny stock while Sykes usually goes long in trading. They both prove their trading income through a platform called ‘Profitly’ which is founded by Tim Sykes.
Recently, people have found out that you can delete certain trades from your broker statement when you try to validate the trades on Profitly.
Therefore, what you see on their Profile is not 100% true. Yes, these data are imported from the stockbroker but you can delete the losing trades and make your profile looks nicer.
How Much Will It Cost
Dux offers 3 types of memberships:
Tier 1 $99 per month:
- Access to the chatroom
- Stock Watch List from Monday to Friday.
Tier 2 $149 per month:
- Everything in Tier 1
- Monthly report where it shows you the statistic of each strategy. How much is the winning percentage and how often it comes up in the market.
Tier 3 $2 or $3.5k:
- Everything in Tier 1&2
- In Person Meeting with Dux
- Trading Technique DVD
What Do You Get From His Chat Room
He usually comes into the chatroom at 9 or 9:15 a.m. Eastern Time and he will alert if he trades anything almost in real time. But he does not place trade every day, he only trades what he thinks is tradable. He usually trades 2-3 days in a week but he will always be in the room at 9:30 a.m.
There are 1 or 2 days in a week that he will be at the Tier 3 chatroom and his assistant will alert his trade in pretty much real time as well.
Usually, when there is no trade, he will leave at like 11 in the morning. If there is a trade, he usually leaves before 1 or 2 pm. He usually sells most of his share before 12 pm if he trades. He rarely trades after 12 pm.
How Long To See Result
It will depend on your discipline and the market. In the penny stock sector, you can make or lose a lot of money like $100,000 in 1 or 2 minutes.
Therefore, it is nerve-wracking to trade penny stock and most of the time people will lose money if they want to make quick money.
In my opinion, patience and discipline are the most important things to succeed in trading.
How Much Do You Need To Start Trading
I would say you will need at least $3k to start to make a profit with Dux’s trading style. Because Dux focuses on shorting and you need to pay a locate fee for like at least $0.02 per share to short a stock.
Thus, you need to pay at least $20 to short 1000 shares of stock and you don’t even know if the stock will go up or down. Locate fee rises quickly. it is rare that you find something like $0.02 per share. By the time Dux sees a good opportunity, everybody will snatch the share and the locate fee will skyrocket.
For a low float stock, 1000 shares can cost $100-$200 sometimes.
You can definitely learn Dux’s trading strategy by joining his chatroom and sometimes he will replies questions. However, it is a little pricey to join the chatroom for $99 per month.
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