Estimated reading time: 6 minutes
We are doing the unthinkable by disrupting an on-going marketing campaign where the owner of a Forex training/trading product called the Lazy Trader, is aggressively drumming up support to bring positive awareness towards his website.
The Lazy Trader website is run by some guy called Rob Colville, and as you can see, his website is quite popular and this is because he spends his very top dollar marketing it instead of focusing on teaching his students how to trade.
Rob Colville aka ”London’s Laziest Trader” is a nickname and also a marketing stunt.
In case you don’t know, the guy is more concerned with dressing up his image positively, and by describing himself as ”London’s Laziest Trader”, he is actually telling everyone that Forex trading is easy, and you can always generate amazing profits in as little as 10 minutes.
Basically, Rob Colville is telling his listeners that he works for 10 minutes each day on the Forex markets — and he earns a living out of Forex trading and nothing else!
Okay, we were thinking that if this is the case, why is he involved in collecting fees left right and center with the promise that he will teach and even give you access to ”quality learning materials” for a lifetime?
This is the first sign that our Rob Colville does not have a verifiable track record which can be used to prove that he actually makes 80% of his income from trading the Forex market.
But it’s actually the opposite. 80% of his income is generated from the sale of his Forex products and site membership.
Such ”Forex tutors” love to target novices because learners convert the best in this kind of arrangement. The Lazy Trader is no better than the scams you see around.
The Lazy Trader is basically a Forex training program which will cost you $252 to gain access to the ultimate membership.An on-going monthly fee of about $160 will also apply.
Rob Colville claims that he teaches swing trading (long-term trades) rather than day trading. That’s the reason he says that trading for a profit only takes him 10 minutes a day.
The content of this site is offered in music, video and written formats.
Rob teaches his students to study the markets while looking for certain key points such as resistance/support while also considering market history to determine the likelihood of that market reversing.
He claims that this method has the highest overall profit potential.
Besides, this man sells Forex signals as well. He claims that one has to put their money where their mouth is by practicing what they preach. So he sells signals as well.
The expected return on investment is estimated between 5-10% per month.
When asked if the Lazy Trader is ideal for novices, he replies with a big Yes.
Nonetheless, we feel that this is a tactic for luring novice traders since the content of this site is very mature, plus some users have always complained of getting a raw deal.
To say that the Lazy Trader is ideal for new traders would be quite misleading. We take those claims with a pinch of salt.
Therefore, while swing trading is a sound strategy for those who have nerves as strong as steel and a substantial amount of capital to invest in the Forex market, it is never ideal for all traders.
The first thing you ought to realize is that the type of trading strategy you will use depends with your personality.
Some people simply don’t have the patience to watch their trades play for days.They keep watching the markets every now and then, which would result in exhaustion, consequently poor judgement.
And in this case, the slightest awkward movement in the market would be interpreted as a losing position, and this would force them to close the position prematurely.
Generally speaking, the Lazy Trader is not a good course for all traders. However, Rob does not mention this fact no matter what as he is clearly concerned with getting your money — as opposed to helping you achieve success in the long run.
Rob entices users to take his ”free Forex training” valued at 10K.
However, certain conditions come with this contract, and it’s actually not free.
Therefore, for any trader to be guaranteed a position in the trader apprentice program, they must fulfill the conditions below:
You realize that this is nothing but promotion work. Like we said before, this guy is more concerned with marketing his products and getting a cut from Forex brokers whom he promotes. He is a ”Forex tutor” who is also doubling up as an internet marketer.
It’s like trying to kill two birds with one stone. The outcome is always obvious — you lose one target.
It would also be extremely difficult to believe that he is promoting Oanda and the rest for no commission.
Honestly, if you follow those instructions, do you realize that real money is involved here? This is not a demo account, and thus the element of risks sets in.
Where is risk management here? Remember that this set of instructions applies to both newbies and those who have traded for sometime — probably looking to learn new strategies from the Lazy Trader by Rob.
So, where’s position sizing, and things like stop loss? And why are you committing real money to Forex trading if you’ve never done that in a demo account first?
The idea of this ”apprentice program” is that you should open a position of any lot size and leave it running.
However, anyone with brains will tell you that this is the quickest way to burn a newbie’s Forex account.
This is always a perfect scenario for cleaning up a novice’s account, and those who are responsible for this misleading advice know it very well.
Nevertheless, they are encouraging you to make this move because they expect handsome commissions from brokers whom they are affiliated with.
The Lazy Trader has some user reviews here and there. The bulk of those reviews paint the Lazy Trader in the best positive light.
Surprisingly, all users don’t mention that they are making consistent profits with the Lazy Trader program.
Instead, they only claim that this training program is the best they’ve seen.
On the other hand, serious traders who are determined to succeed want results. What good is it if this program is hyped but doesn’t give long-term results in the end?
The bottom line is that not a single user has reported that they came, signed up to the Lazy Trader program, and are now making an impressive 5-10% monthly gains.
The sad truth is that Rob Colville doesn’t practice what he preaches.
The second fact is that this man earns a living by selling out his Forex courses as opposed to trading the markets— It would be too risky for him, I Guess.
Anyways, if you want to learn from experts with a sound track record and actually make money from your training, use our recommended Forex products here.
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