True Trading Group is a company that claims they can help you beat the market like a pro.
It's run by Michael Perinotti.
Is this offer going to help you profit or is it all just one big scam?
You'll get an answer to that question in this review.
There's a lot to consider with True Trading Group so make sure to read everything below.
You'll get insights on the owner, a look at what you get and more.
All your questions will be answered by the time you're done reading.
Let's get started!
True Trading Group Summary
Creator: Michael Perinotti
Price to join: $2,122
Do I recommend? No.
Overall rating: 1/5
True Trading Group is a typical trading education company.
They make all these claims about how good they trade and how they can help you become a profitable trader.. but it never really works out.
To top it off the owner recently paid $100,000 in fines for market manipulation and running pump and dump schemes (at the expense of his audience).
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Michael Perinotti Is A Pump And Dumper
There's a lot of sleazy and scummy people in the trading world.. and Michael Perinotti, the owner of True Trading Group, is another one of them.
Michael describes him self as an award winning option trader and finance expert.
In reality he's just a sheep in wolves clothing.
A huge red flag in Perinotti's past is he engaged in pump and dump schemes and was prosecuted by the SEC for it.
Here's a summary from the SEC describing what Michael and his associates did:
Basically Perinotti was paid by several penny stock companies to promote their stock.
Perinotti then marketed the companies and set up several trading accounts under different names to make it seem like people were buying the company.
This was to create the false perception that the companies were worth investing in.
As part of the deal Perinotti was given stock in the companies he was promoting as well.
This is illegal because this artificially inflates the price of the stock.
Once the stock price rises, the people promoting the stock who bought at a cheaper price sell the stock for profit.
The people they tricked into buying the stock all lose money.
As a result Perinotti has to pay nearly $100,000 in fines and came to a few other agreements with the SEC:
Only a person without morals would do this and makes anything Michael is selling illegitimate.
Part of the True Trading Group offer is you get trade alerts from Michael.
How can you trust these trade alerts? How do you know they're in your interest to buy or Michael's?
Or someone Michael is working with?
This is basically all you need to know about True Trading Group and whether you should buy from them.
Don't Believe Any Of The Testimonials
You shouldn't believe any of the testimonials on True Trading Group's website and that's not just me saying this.. True Trading Group says not to believe them!
True Trading Group admits (in the fine print) they don't actually vet any of the testimonials they put on their website.
Now that you know Perinotti is a pump and dumper would it surprise you if he was faking testimonials as well?
There's a good chance that's what is happening.. or at least manipulating beginners into leaving positive reviews.
One reason I believe this is True Trading Group relies heavily on Trustpilot for their testimonials - they're all over the True Trading Group website.
It's pretty well known Trustpilot can be manipulated.
Here's a funny video of a guy creating a fake company and getting loads of 5 star reviews on Trustpilot:
As you can see it's pretty easy to game.
Additionally, you can pay Trustpilot to moderate the reviews about your company.
Many people claim you can get negative reviews taken off as long as you pay Trustpilot.
And True Trading Group monitors the feedback on Trustpilot very closely and responds aggressively to all negative reviews.
For example, one person called them a scam and claimed they were manipulating the market with their alerts.. as a result True Trade Group responded with threats to sue:
Is this really a company you want to pay thousands a year to?
The owner of True Trade Group literally manipulated the market in the past.
I don't know if he ever did it through True Trading Group but it's an undeniable fact the owner is a market manipulator.
There just seems to be very immature leadership at True Trading Group.
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Don't Mess With Day Trading
True Trading Group has training and services for all investors and they have many that revolve around swing trading and day trading.
Day trading is basically impossible to have success with and you should avoid it.
Here's a few reasons why you should avoid it:
Less Than 1% Success Rate
A lot of people know day trading has a low success rate but most people don't know how bad it really is.
Some put it at around 10% but the real number is less than 1%.
True Trading Group acknowledges this in their disclosure:
There's a few reasons why the success rate is so low.
The main reason is it's just impossible to guess where a stock's price will be in a few hours or the next day.
There's too many factors that effect a stock price and every day trade you make is like flipping a coin.
Additionally, there's many fees involved with day trading.
Each trade can cost you up to $100 in fees alone and short term trades are taxed the most.
It's A Full Time Job
Unlike long term investing that can be done in a few minutes a week, day trading needs to be treated like a full time job.
You will need to wake up hours before the market opens at 9 AM (6 AM California time) and spend hours a day looking at a computer screen.
This isn't something that you can do with a job or any sort of a busy life.
Most people just don't have the time for it.
Technical Analysis Won't Save You
One last thing before moving on to the next section.
Many people who day trade will tell you there's a low success rate because people don't learn technical analysis or chart reading blah blah blah.
If you ask one of these people how much they make day trading they'll just go silent.
The truth is technical analysis and all other supposed day trading strategies are complete nonsense.
You don't have to trust me either.
Take Warren Buffet's word for it:
Many studies have proven you can't improve with day trading.
In fact, the more you day trade the worst your performance typically is.
This is because day trading is gambling and you can never beat the house.
The more you try, the more you lose.
True Trading Group Overview
There's a lot of different aspects to True Trading Group.
Here's everything you can expect to get with a membership:
With your subscription to True trading Group you get a daily chat room and trading room.
Here you'll be able to watch Michael Perinotti and the team at True Trading Group trade.
You'll s their screen, hear them talk about the market and get their trade alerts.
Weekly Group Coaching
Every Thursday there's a group coaching session limited to under 200 students.
This is run by one of the True Trading Group coaches.
The point of these sessions is to improve and learn more about trading.
You get access to TradingViews' Pro+ charting software.
Here you'll be able to track stock prices and test out your new technical analysis strategies.
Remember, though, charting and technical analysis doesn't really work.
People who day trade claim scanners are a must have.
These tools help you find stocks that are worth trading supposedly.
You will get access to Trade Ideas' scanner which is one of the more well known tools for day traders.
With your subscription to True Trading Group you get access to a virtual trading simulator.
This allows you to paper trade without losing money.
I like this feature a lot because it allows you to see how hard day trading is without actually losing money.
Hopefully it convinces you to not actually lose money with day trading.
Social Sentiment Screener
Day trading is very big on Twitter and other social media sites.
Many stocks explode after insane coverage on social media (like AMC and GameStop).
This tool scans these websites to find out which stocks are being talked about the most.
Along with all the other tools you'll get full analysis and ratings on all public companies.
This includes price, volume, history of price, analyst ratings and more.
You'll get a list of stocks that the team at True Trading Group are eyeing.
This will save you time in the morning and pre-market.
Whenever Michael makes a swing trade you'll get an alert.
This includes analysis of the trade, when he enters and when exits.
The last part of the offer is training on various topics.
You'll get courses on:
- Swing trading
- Trading psychology
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True Trading Group FAQ's
You might still have some questions about this company and what they're offering.
Here's some answers to any questions you might have:
1) Is True Trading Group Worth Its Cost?
So here's the thing..
I actually think you get a decent amount for your subscription.
For example, Trade Ideas scanner costs a minimum $1000 per year.
If you were to buy all the tools offered at True Trading Group separately it would cost much more than $2,212 per year (the cost of True Trading Group).
However, I just don't trust the owner because he was convicted of manipulating the market.
I just don't see how you can trust his trade alerts or advice after that.
On top of everything a lot of these tools have to do with day trading.
It really doesn't matter how many expensive tools you have to day trade with - you're going to lose money.
There's a 99% chance of this.
If you spend $2,212 on True Trading Group you're just starting more in the red.
2) Is Michael Perinotti Legit?
I don't think so.
Trading is extremely time consuming and risky.. Michael is probably making millions from True Trading Group.
There's really no need for him to trade.
Additionally, the pump and dump stuff is despicable.
Any person that would pray on unsuspecting traders for profit is horrible person in my book.
This alone makes Michael completely untrustworthy.
3) Is There A Refund Policy?
There is a refund policy but man.. it's one of the more confusing I have ever seen before.
There's so many strings attached and hoops you have to jump though.
For example, you have to pass all of True Trading Group's exams and maintain "certification" without a lapse for more than 2 weeks.
You have to log into the chatroom for 50 out of 253 trading days.
You can't profit in any trading period that is more than $1,150 at any time in an entire year.
So even if you make that then lose $10,000, you're still not eligible.
There's more that you can read on True Trading Group's website if you want.
Overall this is an awful refund policy.
4) Is There Any Similar Programs?
There's a lot of different day trading programs and gurus out there.
Some I've recently come across are:
They all have the same vibe as True Trading Group and I wouldn't recommend any of them.
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True Trading Group Pros And Cons
True Trading Group Conclusion
Thanks for reading my review of True Trading Group!
I hope you got an answer to everything you're look for.
The truth is there's a million places just like True Trading Group out there.
They operate in the same manner, offer the same stuff and typically have the same red flags.
The truth is these companies make a lot of money because there's a lot of naive investors out there.
If everyone knew the true stats for day traders and knew how deceptive companies like this are, they wouldn't exist.
But True Trading Group is very good at marketing and they know how to sell memberships.
Don't be fooled by them!
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I'd pass on True Trading Group and would pass on anyone recommending day trading.
The truth is long term investing is the only real way to make money from the market.
It takes a little longer to see results but the results will always be a million times better.
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That was the best and most honest review of TTG. I did 3 trials and I think you are bang on. While I don’t think they are a scam, I guess once a pumper always a pumper. Now they don’t pump stocks, they pump TTG, which would not be a bad thing per se, but they are going the wrong way about it. Mr. Adam is right, it’s a business, unfortunately, their business is getting new recruits and getting as much money as they can from them. In all my trials, every day, and sometimes a few times a day, they try to push members to buy either life, STR, or traderpalooza services. With them, everything is about marketing, trying to figure out what incentives they can push to get people to buy other services. I get why. They don’t make a lot of money from trading, so in order to generate revenue they need new members. If instead of marketing the services with all kinds of tricks and phony statistics, they will concentrate on trading, I mean proper trading not this daily scalping for crumbs BS, it may become a decent service. Until then, unless one subscribes only for the courses (I didn’t have time to take them so can’t comment on the quality, but I suspect that they are at least decent) and some add-ons, like TradingView and Benzinga news feeds, it may be worth it.
The chat room is noisy and mediocre mods, are front-running the alerts. Many times by the time the alert hits the chat and you try to follow it, they already send another alert with a sale.
All their stats are kind of made up. Based on how they report the trades you can never know if the trade actually made money or not. And this is by design. The technical term for it is smoke and mirrors.
For example, alert at 10 am, buy APPL at 145, 10:01 am, sale some APPL 145.75, 10:5 sale some APPL 146.6 still holding some, and at 11 am cover APPL 143.
You can actually lose money on the trade, but in their books is calculated as 2 wins and one loss.
They bribe members to participate on YouTube with strict instructions. You have to like the stream, email it to somebody (it may be to yourself too), be on the stream, register, and then they have a draw (which sometimes is postponed, so they can double dip on that too) for a chance to win. This is just so they can have good stats on YouTube and claim that they are watched. The funny part is that, except for the relentless marketing, their YouTube streams are pretty good, on-point, and informative.
In conclusion, not a full-scale scam, but very promotional with subpar trading. From what I saw, they actually try, but just can’t get off this pump-up mentality.
Thanks for your insights! This was very helpful!
You can’t take anything they tell you on the YouTube stream at face value. It’s a lot of hype and click bate. A very promotional group with a lot of talks and substandard trading.
Mike starts his daily YouTube streams by saying award-winning trader from a hedge fund and claims ppl refer to TTG as the Netflix of trading. First, if you were the awarded trader at the hedge fund, no wonder it went belly up. Second, nobody is referring to TTG as the Netflix of trading, just you. It’s a bullshit story that you tell to your YouTube watchers. It’s the same playbook used in politics. An anonymous source plants a fake story in a print/online news outlet, and then they run with it like it was real reporting by an independent source in the first place.
We have 8 Pro traders, aka the MODS? Are you kidding? It shows you have never been around pro traders if you call your team pro. Not even average. If I think about it, this is not even a coherent group. It’s some random dudes with access to a microphone, chasing whatever is hot on their scans. There is no strategy unless you consider counter-trade on up days or chasing pennies a strategy.
They mostly lose or break even, so when they have a 50-cent win it’s all high fives, great job team. Kind of pathetic, considering that in the process they have missed huge gains in many other stocks or even in the stocks they have traded if they will have more patience and waited for the setup to take shape.
1 price all-inclusive is for base membership. After that, there are extra plans, that Mr. Mike Perinotti and Mr. Suge up-sell to death every other day. And they are very cunning about it. They put a form, members have to fill out, so they can verify who is suitable for it, trying to create the illusion of exclusivity, when in fact it’s money they are after. And based on how much they promote the service with all kinds of offerings, including to members, it’s clear they are in desperate need of money.
And be prepared to be bombarded with polls multiple times a day. Mr. Suge really tries hard to see how he can make the members buying more of his offerings.
For more than a year now, every day is until tonight at 12, after that prices will go up. They go up a few $ and come back in a few days because once they start raising the price nobody buys them. It seems they are an outfit that sells computers and used trading membership to do it. Like buy a computer from us and get a one-year free gym membership, but disguise it the other way around?
As for “Everyone at TTG shares a strong passion for helping others improve”, it’s true as long as you don’t disagree with them. If you do, you are muted or banned from the chat.
You are absolutely right. It’s a con game once you are a member of upsales. With 10,000 members there will always be some winners on there live stream. When I said this in chat they muted me and said to talk to to elana or some other ass hole but once I canceled the auto renew they wouldn’t answer shit. Mike was on TraderTV big mistake it’s free informative and enjoyable and I’m not muted and can rip ttg a new one. Can’t wait until he is on again.
Thanks for the link to the SEC judgement. That says it all.