Marcello Arrambide, the guy behind wanderingtrader.com and daytradingacademy.com considers himself to be the luckiest person in the world: he has location freedom, time freedom and financial freedom. He has achieved all this through day trading the stock market. For a few thousand bucks, he can teach you how to be like him. Just let me clear my throat a moment. Ahem, BULLSHIT, cough.
Let’s start by having a look at how Marcello answers the question: how much can I make day trading: trading stocks, he claims a huge 495% in six months, for which he offers a photo as proof. For S&P 500 e-mini futures trading, 1-2 hours a day are enough to make a full time income. With such results, no wonder he’s a carefree globetrotter.
The main issue is that none of the claims Marcello makes are supported by any facts: his day trading academy website has been up for 5 years now but we’re yet to see a third party verified track-record. Instead, we’re offered lots of worthless testimonials.
He was caught red handed when he tried to leave a positive review on futures.io posing as a client:
What really pissed me off and made me write this article was the following video he uploaded on YouTube: Why Day Trading Forex Is A Scam. It’s so full of BS, it is criminal.
So here we have a scammer who’s been selling dreams for 5 years calling the most liquid market in the world a scam. Say what ?! Any trader who knows the ABCs of trading Forex can tell that Arrambide doesn’t have a clue of what he’s talking about in that video.
He mentions brokers manipulating the market – yeah, maybe some bucket-shops registered in a Pacific island, only that their clients aren’t actually in the market at all. They trade against the broker, so it’s the data feed they get from the broker that gets manipulated.
He mentions Central Banks manipulating the Forex, without going into details. But if we consider QEs for instance to be acts of manipulation, the effects were propagated to all asset classes, including stocks and the S&P 500 that Marcello supposedly trades.
Apparently Forex is a zero-sum game where the money lost by retail traders goes to institutions, hedge-funds, banks. That’s a myth that I addressed before.
After insisting on how terrible the Forex market is for trading, Marcello recommends the futures market where according to him, you can make an average of $100 a day with a $1.000 account.
I’m just amazed of how he was able to compact so much BS and misinformation in under 3 minutes.
To conclude: Marcello Arrambide presents a well crafted illusion. All you have to do to see through it is to separate the facts (his travels) from the fiction (that he pays for them via day trading profits). Even if you’re only interested in traveling, I’d recommend you steer clear from such a dishonest person. There are plenty of legitimate travel blogs and sites out there for you to choose from.