Set And Forget is a day trading website run by a man named Alfonso Moreno.
He claims he can help you trade profitably using supply and demand imbalances.
Is this a good place to learn or another investing scam?
We'll get to the bottom of this question in this review.
Additionally, we'll look at what's being offered and if there are any red flags.
Let's get started!
Set Amd Forget Summary
Creator: Alfonso Moreno
Price to join: Depends on service (hundreds for course, thousands for mentoring)
Do I recommend? No
Overall rating: 2/5
There are many day trading courses and gurus out there, and I doubt many of them create successful students (most probably aren't profitable traders themselves).
So although I don't recommend Set And Forget, it's not because I find Alfonso especially bad or anything like that.
Day trading just doesn't work, and it has a 1% success rate.
No amount of trading, tools, or strategy will change those odds.
There are better ways to make money and better ways to invest.
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The Odds Are Stacked Against You
I'm not someone who looks for perfect odds before I get started with something.
But for me to really commit to an activity or money-making method, there has to be some sort of realistic chance of success.
Maybe like 30%.
That shows me it's hard to succeed, but enough people do well that I can believe it'll work if I try hard.
However, the day trading success rate is way, way lower.
It's so low that I would never try to be successful at it and would never recommend anyone give it a shot.
So how low is too low?
About 1%.
There have been many studies that have proven this.
The reason so few people make money day trading is because it's impossible to guess where an asset's price is going to be in a few hours.
There are too many factors involved, and the idea that you can use charts or patterns to guess is absurd.
Additionally, there are many fees involved with day trading that can make a profitable trader unprofitable.
It can cost up to $100 to execute a trade.
Add this all up, and you have 99% of people failing.
What Is Supple And Demand Trading?
Day trading relies on what is called technical analysis.
Technical analysis involves various charts and patterns, and the idea is that assets follow certain patterns regularly.
And once you learn certain patterns, you can guess where the price of an asset will be.
Obviously, with the success rate of day trading being 1%, this isn't true, but it's what day traders are selling to their audience.
The technical analysis that Alfonso Moreno is selling to his audience is "supply and demand trading."
Supply and demand trading is the idea that the price of an asset is relative to the supply and demand of the asset.
So if supply is high and demand is low, you will want to short the stock, and vice versa if demand is high and supply is low.
Here's an example of a chart that supposedly shows both:
Again, though, so much can change a stock's price in a few hours.
The idea that you can just look at a chart like the one above and know when the stock is going to go up or down is nonsense.
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What's Being Offered At Set And Forget?
There are a handful of services being offered at Set And Forget.
Here's a look at each category of services being offered.
Trade Ideas
The most popular service at Set And Forget is Trade Ideas.
There are different options to sign up, and you can pay monthly, quarterly, yearly, or get a lifetime membership.
Basically, you get to trade ideas and set-ups for your ideas.
According to Alfonso, he has made over 2000 trade calls in the last few years.
How have those trades turned out?
He offers no proof that they're profitable or that they would have made you any money.
Courses
There are currently two courses for sale at Set And Forget.
The first is the Supply and Demand course.
This goes over the principles of supply and demand trading and will cost you $395.
The second course is Oil and Gas.
This is another supply and demand course that focuses on energy.
It costs $49.
Coaching And Mentoring
The last service that you can buy is live training and mentoring.
The price of the coaching depends on how much training you want.
For 4 hours of 1-on-1 training per month, it'll cost %95 per month.
For 24 hours of training, it will cost $1895 per 3 months, and for 48 hours of training, it will cost $3500 per 6 months.
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Set And Forget FAQs
Still have some questions about Set And Forget?
Here are the answers to any remaining questions you might have:
1) Is Alfonso Moreno Legit?
Apparently, Alfonso is a dance teacher turned day trader.
So he didn't really have a history with finance before becoming a trader.
He doesn't offer any proof that he's a profitable trader, and there's no track record to look at.
There's only one reason for this, and it should be obvious.
Any profitable trader would proudly display their results because it's so hard to succeed.
If something had a 1% success rate and you were in that group, wouldn't you show potential customers this?
Alfonso's lifestyle is almost certainly funded by Set And Forget and not from actually trading.
2) How much time do I need?
According to Alfonso, he only trades for 30 mintes every 1–2 days.
That's why it's called Set and Forget.
He just makes his trades in advance and lets them play out.
But if you're a beginner, you will need to devote much more time than this.
Most traders claim you need at least a couple hours when the market first opens and maybe an hour when the market closes.
3) Are any of Set And Forget's Services worth it?
No, I don't think so.
I doubt the products are worse than any others.
It's just that I would never recommend anyone get involved with day trading.
Basically, no one is making money doing it, and the only real way to make money with day trading is by selling courses.
It'll just end up being a waste of time.
Long-term investing will always be the best way to get returns from the stock market.
4) Are The Prices Fair?
The cost of Set And Forget products is about what you'll find anywhere else.
Day-trading gurus tend to charge a lot for their services.
Those fancy vacations and nice cars you always see day traders driving around in aren't going to pay for themselves.
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Wrapping Things Up
That's the end of my review of Set And Forget.
I've reviewed a bunch of day trading programs and haven't recommended a single one.
I never will, to be honest.
It's a strategy that simply doesn't work, and I don't want any of my readers getting involved with day training.
The best way to make money with stocks is to invest in the long run.
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