T3 Live offers a lot of different investing and trading services.. they have a bunch of newsletters and educational programs for sale.
They're pricey, though.
I bet before spending any money on them you want to know if they're scams or not.
I'll answer that in this review.
There's a lot to see so make sure you read everything.
You'll get an overview of all the products, a look at some important background information and more.
Let's get started!
4 Facts About T3 Live
Before we get into what's being sold at T3 Live, let's take a look at some background information.
Here's what's important to know about this company:
1) Scott Redler Has A Sketchy Past
Scott Redler is one the owners of T3 Live and unfortunately has some serious red flags in his past.
I went to FINRA to see if he was registered to sell securities like he claimed and he was.
However, half of the firms he worked for previously were outright scams.
Two of them have been banned by FINRA from selling securities:
The companies with the red triangles and exclamation points are the ones banned.
I couldn't find much about Millennium Securities Corp. besides them being expelled in 2004:
But there's some information out there about Continental Broker Dealer Corp.
There was a Washington Post article from 1997 that detailed how this company used unethical sales pitches to trick people into buying bad stocks.
The broker who called the writer of the article told him a bunch of false information about a stock.
In 2004 Continental Broker Dealer Corp was shut down by FINRA:
Being expelled by FINRA is not something that happens often.
There's bipartisan agreement that FINRA doesn't do enough to stop security scams.
So if you're punished by them you dis something really bad.
I can see a young guy making a mistake and working for one of these companies early in their career.
But Scott worked for TWO of them with many years between each one.
Also, Scott launched T3 in 2007.. so it's not like there was a lot of time for him to change his ways.
To me it seems like Scott got tired of working for scammers and wanted to be in charge...
2) T3 Ran Pump And Dump Schemes
Another HUGE red flag concerning T3 Live happened a few months in October 2021.
One of traders at T3 named Mark Melnick, who ran a trading room called T3 Newsbeat Live, was convicted of a pump and dump scheme.
The scam worked like this:
Mark and a bunch of other traders would create option contracts for a certain stock.
Mark would then spread false information about the company he created the option contract for.
This would lead to buzz and people buying the stock.. in return the price would temporarily increase.
Once the stock price went up Mark would sell his contract and make money.
In two years (January 2018 to January 2020) Mark did this 100 times, profiting over $300,000 from this scam.
For his part Mark got sentenced to 5 years in prison and a fine of several hundreds of thousands of dollars.
What makes this scam so horrible is it lost T3 members money.
T3 members were buying the stocks at inflated prices. Meaning the stock would quickly crash after they bought it.
3) Heavy Focus On Day Trading
I can go on and on and on about how horrible day trading is..
Day trading is the single worst way to trade and it's a major focus of the products at T3 Live.
Here's some important things to keep in mind with day trading:
0.5% Make More Than Minimum Wage
Day trading is such a scam because it's essentially gambling - guessing what the price of a stock will be in a few hours is impossible.
You're basically guessing heads or tails every time you day trade.
It's worst because you have to pay fees on every trade you make.. this makes it basically impossible to ever profit.
This point is made in a report released by the North American Securities Administrators Association regarding day trading:
It's common knowledge that more people lose money at a casino than make money.
This is no different.
Day trading and gambling are similar in that the more you do either, the more likely you are to lose money.
A massive Brazilian study into day trading showed the more people day trade a year, the less likely they were able to profit.
This means you can't improve with day trading the more you do it.. same with gambling.
Eventually the odds stacked up against you will make you unprofitable.
The house will always win.
Technical Analysis Is A Joke
Scott Redler claims he's an expert in technical analysis.. which is another red flag against him.
People who believe in technical analysis claim they can get an edge in day trading through chart reading and candlestick patterns.
This is the kind of stuff they believe in:
A believer in technical analysis will tell you this chart can predict the price of a stock in a few hours.
If it were true the success rate for day trading wouldn't be so low.
The truth is these charts don't predict anything.
Warren Buffet famously said the following:
If 5 people look at the same chart you might get 5 different interpretations.
4) Scott Makes More Selling Products
I just want to make one last quick point about T3 Live and Scott Redler.
Typically there's only one type of person that makes money in the day trading world.
It's not the person who studies their charts the most or is the most disciplined.. I truly don't think either of those make a difference.
The only people making money in the day trading world are the people selling day trading services and products like Scott.
I mean look at Scott's past trading history..
The guy was in a boiler room cold calling horrible stock picks to random strangers.
He wasn't learning winning trading and investment strategies.
All he learned was how to pitch something to naïve people.
That's all that's going on here. Any money Scott makes comes almost solely from T3 and selling services.
He has no track record of being a successful trader or anything like that.
He doesn't have to trade if he's making millions from T3.
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T3 Live Offer Overview
T3 Live offers various products including newsletters, trading floors and educational programs.
Here's a look at each category and what's being offered:
T3 Live Newsletters
There's four different newsletters for sale at T3 Live.
Redler Report ($129 Per Month)
The Redler Report is the newsletter that Scott Redler runs.
It's for day traders that want stock ideas everyday.
This newsletter promises to give you over 25 stock ideas every morning.
Additionally, you get two videos a day covering different chart analysis.
Lastly, you get access to Scott Redler's private Twitter account.
Hit And Run ($129 Per Month)
This service is run by Jeff Cooper and revolves around swing trading.
Swing trading is when you buy and sell a position in a few days or few weeks.
The core of this offer is the daily newsletter that comes with stock trading ideas.
Additionally, through out the day you'll get follow ups on the trade ideas with buy and sell points.. as well as chart analysis.
Also, you get a 7 part training video that covers "hit and run patterns."
Strategic Swing Trader ($129 Per Month)
The next newsletter is run by Sami Abusaad and like the name suggests it revolves around swing trading.
Strategic Swing Trader is a lot like the previous newsletter we just covered - not sure why T3 felt the need to have two of these products.
Like the previous newsletter you get daily swing trading ideas as well as a training program.
Options In Play ($129 Per Month)
The last newsletter is based around options.
It works a lot like the previous services.. you get a bunch of option picks daily as well as market analysis.
Additionally, you get option training if you sign up for the annual membership.
There's a bunch of educational program for sale at T3.
I'm not going to go over every single because there's too many to cover.
None of the courses are particularly impressive or ground breaking.
Most of them cover topics like technical analysis, day trading, swing trading and stuff like that.
They're also pretty short.
Most of the courses aren't more than a few hours long.
Virtual Trading Floors
There's four different trading rooms at T3 Live.
Just a quick reminder:
A legitimate scam was run out of a trading room at T3 Live. This scam landed the moderator of the chat room in jail and lost people in the chat room a lot of money.
As far as the trading rooms are concerned they all have a different focus.
The one run by Scott Redler is focused on day trading and the one run by Sami Abusaad is focused on the Pristine Trading System.
The third is a trading room for people looking for institutional level community and the last one is run by Derrick Oldensmith.
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My Thoughts On T3 Live
There's a lot to unpack about this company.
Here's my main takeaways:
From this review you can probably tell I despise day trading.
It's almost impossible to profit and even if you do profit it likely will be less than minimum wage.
If you're paying for a newsletter or trading room, you're starting in the hole before making a single trade.
All of these programs cost thousands when you add up their monthly fees.
One subscription to a newsletter and trading room will cost you over $3,000 PER YEAR.
If you're one of the lucky people that makes a couple thousand from day trading you're still in the red.
The price of these products will prevent you from profiting.
Bad Refund Policy
Another thing to dislike about T3 is their refund policy.
They basically only offer refunds if you buy an annual plan:
If you're not satisfied with a service you should be able to get your money back in 30 days,.
Most legitimate services will offer a refund no matter the reason.
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T3 Live Pros And Cons
T3 Live Conclusion
There's so many red flags with T3 that you can't ignore.
Most of Scott's career in trading before T3 was with legitimate scams. Companies so bad they were shut down and aren't allowed to operate in America ever again.
There's no proof Scott learned his lesson from his years at these brokerages.
In fact, it's the opposite.
In Scott's bio he brags about his trading experience:
This is actually a lie.. he got his start in 1995 with Millennium Securities, which was shut down by FINRA.
A very serious scam was run right under Scott's nose at T3 too.
I can't recommend any of their products because of this.
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Pass on anything from T3 Live.
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