TheTradingChannel EAP Course: Honest Review




What Is The EAP?

As a lifetime member and self-declared graduate of Steven Hart’s EAP Training Program, I think it’s time that I write a review on his course material and services as a trading mentor.

I joined the program in January of 2018 and became consistently profitable in early 2019, so I believe I’m in a good position to give my honest opinion about the course.

The EAP stands for Email Analysis Program.

This is a program where Steven emails you his personal trading setups (not intended as a signal service) so that you can follow along with him and be confident that you’re seeing the markets and executing the strategies you learn the same way he is.

The course is designed to help new and struggling traders transition from being unprofitable to becoming consistently profitable over several phases – although there are also advanced sections intended for traders who are already profitable and wish to expand their playbook or optimize their performance.

Steven teaches objective rules-based price action strategies that he personally uses to extract profits out of the markets (and has used for many years), he advocates sensible risk control measures, and he specializes in forex trading.




Introduction

Before I begin this review, in the interests of transparency, I should state that obviously I’m going to be a little bit positively biased with this review because Steven has helped me personally go from a struggling trader to a profitable trader and I owe a great debt of gratitude to him for that.

Yet in saying that, despite the success I’ve had under his guidance, it’s important to note that there is no “one size fits all” trading mentorship arrangement, and I do not benefit financially in any way from convincing you to join his course.

I’m simply here to share my experiences with you to help inform your decision on who to work with in your trading journey. I’m doing this because I enjoy helping other traders, I’m a passionate fan and student of Steven’s, I’m bored of staring at charts all day and enjoy writing to pass the time. I have no secret agenda with this review.

It’s entirely possible that Steven will not be able to help you to achieve success in your own trading depending on the style of trading you prefer, your goals as a trader, and the market you would like to trade.

Steven specializes in swing-trading over scalping. He’s not going to help you get rich quickly or easily but rather help you build a sustainable trading business through months of hard work. And he’s a forex trader who does not teach stock, commodity or crypto trading – although in my experience, many of his concepts and strategies do translate well to other markets.

So if you’re looking to get rich quickly or easily, or you’re lazy and averse to hard work, or you don’t take your trading seriously and you just want to be spoon-fed shortcuts like a trading signal service, then his course is definitely not for you.

But if you’re a fan of transparency and honesty and reality, and you’re willing to work hard to truly earn your success as a trader, then his mentorship program is likely to help you on your journey.

And if you’re focused on becoming a systematic rules-based forex trader, then it’s also likely that you won’t need any other training courses in order to achieve the success you’re seeking.

So if you’re a forex trader who is in this game for the long-haul, and you prefer objective rules-based trading strategies over ones that require a lot of subjectivity or discretion, then I think you’re going to find a lot of value out of this review – and even more out of Steven’s EAP training course.

And if after reading this review you still have questions or concerns, then he also has a YouTube channel with over 300,000 subscribers and hundreds of hours of free educational content to consume! Go and check that out if this review does not satisfy your curiosity.

I’m confident you’ll find his free high-quality content more than helpful.




Pricing & Competition

Let’s start with the question that’s probably of most concern to you – is the EAP membership worth the cost?

Quality of content aside, in comparison to Steven’s competitors, the pricing itself is quite competitive. But let’s do some number crunching to prove it.

At the present time of writing this review, he has three pricing tiers (in US dollars):

  • $197 per month
  • $297 per quarter
  • $997 lifetime access

Considering I’ve spent up to $2000+ per product on trading courses that provided a mere fraction of the value that Steven offers (and in some cases weren’t helpful at all), I can safely say that this price is more than reasonable for the quality of the content you will receive.

But don’t just take my word for it – let’s break down your other options.

The main competitor to Steven would probably be Tier One Trading.

First I should mention that I’ve never been a paying member of the Tier One program. But I have taken their trial and enjoyed it, and they are the only other forex trading education program out there on the internet that I’ve come to trust, so I think it’s fair to compare Steven to them.

Tier One is a reputable trading education platform run by Akil Stokes and Jason Graystone – two traders who I have the utmost respect for. I thoroughly enjoy their free content and I’ve learned a lot of valuable information from them.

However, given the fact that they have a whole team of trading educators and offer a broader and more general variety of trading education content and products (including software), their overhead and thus their prices are much higher. To join Tier One, you’re looking at about $297 per month – which is a +66% increase in price.

For someone who isn’t sure what they want out of their trading yet, then perhaps the broader range of possibilities is more fitting to them. The best analogy I can think of is that Tier One is like the large franchise chain of forex trading who have a broad menu versus Steven’s small family-run restaurant who specializes in a certain cuisine – in this case, 4HR and 1HR swing-trading and simple rules-based strategies.

So if you want a more intimate hands-on 1-on-1 mentorship instead of the broader audience-style mentorship, then Steven’s course may be better suited to you.

This is a review of the EAP Program and not Tier One, so I won’t go into much more detail about Tier One here except to say that I have no conflict of interest when it comes to giving advice on trading. I don’t care who you choose to go with – I just want to help you to make an informed decision about your financial future.

And the only reason I point out Tier One and not some other random forex education company is because they are literally the only forex trading education course promoters I’ve come across in my 4+ years of trading experience who share the same level of transparency and honesty as Steven. They also share similar styles of trading and methodologies.

So if you’re considering going anywhere else or you’re unconvinced by this review by the time you finish reading it, I’d recommend checking them out.

Otherwise – if you like the sound of having a close 1-on-1 relationship with a trading mentor who is committed to helping you reach profitability through a simple but effective step-by-step process, then continue reading to find out more details about what Steven offers.




Trading Strategies & Backtesting

In Steven’s EAP course you will learn several different strategies ranging from structure-based counter-trend trading to trend-continuation and trend-following swing trading strategies.

At the time of writing this, he teaches five different rules-based trading strategies in the EAP course:

  • A trend-continuation / momentum pullback strategy
  • A counter-trend double-top & double-bottom strategy
  • A mean-reversion RSI reversal strategy
  • A structure-based swing trading strategy
  • A consolidation advanced pattern strategy

Having learned all of these strategies myself I can safely say that they are all as simple to learn as they are effective. They all work excellently in their own respects based on certain markets and market conditions, and most of them work on multiple timeframes including intraday.

But best of all – you don’t have to take my word for it, or even his word.

That’s because he also teaches you perhaps the most important aspect of successful forex trading – which is the process of backtesting.

Backtesting Results
Backtesting Example

By backtesting these rules over historical data for hundreds of trades and several past years, you can prove for yourself that these strategies did in fact produce a profit over the past.

Now of course – as the obvious risk disclaimer says, past performance is no indication of future performance, and whatever these strategies did in the past does not guarantee that they will perform the same way in the future. But it certainly gives you a great idea of what to expect, and it’s better than nothing.

After all – if a strategy wasn’t profitable over the past 10 years, then why would it suddenly be profitable now? And likewise – if a strategy was profitable over the past 10 years, then why would it suddenly stop working now?

So perhaps the best part of the EAP program is that by mastering these strategies that Steven teaches and the process of backtesting them and optimizing them, you will essentially learn how to develop your own strategies (or test strategies learned from other educators).

So in other words, Steven won’t just give you some fish. He will teach you how to fish, which is infinitely more valuable.

Furthermore, he will also share with you his advanced backtesting and live trading journal spreadsheets which do all of the mathematics and heavy lifting for you. Creating your own spreadsheet requires knowledge of Excel formulas and hours of work – by signing up to the course, you get to shortcut that monotonous part and download his template.

Or of course, if you just want the spreadsheet and don’t require mentorship or guidance, you can download mine here for free.




Style of Teaching

Steven takes a laid back, casual and easy-going approach to educating – so you won’t get bored listening to him teach. He keeps things entertaining and he’s full of energy, so it’s very easy to follow along with his lessons.

The lessons are no longer than they need to be and not fluffed up with unnecessary content or ramblings (or unsubstantiated claims), and so the they are easy to digest and implement. He takes care to be concise in his explanations and does a great job of explaining his ideas clearly.

Everything Steven teaches you will be backed up by backtesting results, and he even takes the time to send you examples of real trades he is taking in the live markets that meet the rules of the strategies you will learn (not intended to be a signal service).

Example of an EAP Email

He also breaks down his equity curve every few weeks in a video presentation to demonstrate what it looks like to trade through drawdowns (losing streaks) and rough patches – as well as the good times. This is most beneficial to newer traders who struggle with patience and discipline or other trading psychology issues.

Observing Steven trade the strategies he teaches you will imbue you with confidence in what you’re doing.

Watching him trade through new equity highs, into drawdowns which sometimes last weeks, and then back to new equity highs is extremely valuable to prove to new traders that it is possible to be a profitable trader if you have the courage and confidence to stick to the plan.




Quality of Content

As far the quality of the video content goes, I have no complaints whatsoever.

The videos are high-definition, the audio is clear and high-quality, the demonstrations are simply presented without any unnecessary fluff or nonsense, and I’ve never had any issues accessing the website.

The EAP course is as good if not better than the average A-grade forex trading education content. I’ve been through plenty of courses, and I can say with confidence that Steven’s stands up against the best of them in terms of both literal quality and figurative quality.

As I mentioned earlier, Steven is a talented educator with a great skill for explaining his concepts and ideas and talking through his thought process. Even as a beginner trader, I had no trouble understanding what he was talking about at any time.

Obviously some concepts will take time to make sense to you if you’re brand new, but as far as explanations go, Steven is definitely one of the best in the world at expressing the complex ideas behind profitable forex trading.

The content is unlocked all at once, so there is no drip-feeding or weekly unlocks designed to limit how much content you can binge-watch like many other courses out there.

Obviously it’s advised to take your time mastering each concept one at a time before moving onto the next, but you can learn at your own pace in the EAP course.




Mentorship

Perhaps the most valuable feature of the EAP course membership is not even the course material itself, but the fact that you get a priority direct-line straight to Steven himself.

If you have a trading-related question that only an experienced trader can answer, he is there for you. For other questions regarding non-trading related information, he has staff members who are very competent and experienced with customer service who will respond to your queries.

But if you run into a problem with your trading, or come across a subject or concept that doesn’t quite click for you, then you have the ability to email Steven at any time and he will always respond to your question.

Obviously, given the fact that he has hundreds of students, it can take a few days or even weeks for him to get around to replying to you. But he always will, and he’ll always respond with great detail and encouragement.

Steven is not judgmental towards new traders and no question is too stupid to ask. Believe me, I asked him plenty. He was always gracious, patient and detailed in his replies. I never had a question I asked him that he couldn’t or wouldn’t help me with.

As far as mentorship goes, I couldn’t speak more highly of him and his service. The one drawback perhaps is that you can’t video or voice call him, but honestly, unless you’re illiterate and can’t read or write (in which case maybe trading isn’t for you in the first place), then there’s no reason why email conversations can’t suffice.

Plus with emails it’s easy to send screenshot examples of things you’re struggling with – which I highly recommend, because it’s pretty hard to explain most trading concepts or issues without a visual aid or chart to reference.

All in all I give him an A+ for mentorship service. I’m amazed that he finds the time to be so available and helpful for so many students, and really, that’s what you’re paying for when you sign up to the EAP program.

Most of the information he teaches you could probably learn on your own without the course material – but it would take you many years of sifting through all the noise out there, there’s no guarantee that you’ll ever find out what works, and you would have no psychological or educational support.

When you pay for Steven’s course, you’re paying to save yourself years of time learning strategies that don’t work. You get to skip all the challenges of reading through dozens of books, watching hundreds of videos and consuming years of content and hard lessons and go straight to mastering what actually works.

And the added bonus is that Steven is personally there to help you with every step of your journey – even after you become profitable.

I still speak with him regularly about new issues that pop up from time to time (spoiler alert: even after you become profitable, you will still have challenges with your trading!). And he is always happy to talk and a pillar of encouragement and motivation.

This is what newer traders will get the most value from. Experienced traders will perhaps get more value out of skipping all the BS out there and learning his profitable trading strategy rules directly, whereas rookie traders will get the most value out of his guidance and 1-on-1 support.




Trading Performance

Let’s not forget that we’re here to make money.

If what you learn from a trading educator doesn’t translate into trading profits, then you’re wasting your money – and worst of all, your time.

Thankfully, Steven is the real deal. He is a professional trader with over 10 years experience trading the forex markets, and his strategies certainly work as advertised.

He proves this regularly by providing email analysis where he sends out screenshot examples of each trade he takes that meet the rules of his EAP strategies. He journals each trade that he sends out in a spreadsheet for full transparency, and plots the equity curve throughout the year.

This serves two purposes. First, it demonstrates that what Steven is doing actually works and he is a genuinely profitable trader with the authority to teach what he knows.

And second, it inspires his students who are struggling with their trading to see that it is possible to be profitable over the long-term if you have the patience and self-discipline to stick to your plan and continue trading the strategies even when they’re suffering through the dreaded drawdowns.

Steven leads by example. He’s not just a theoretician. He teaches the theory, but then he walks the talk and demonstrates in real-time how to execute the theory properly and consistently.

I’ve been a member of the EAP program since 2017, and since that time, every year has produced a greater than +100% return on his initial capital. At first this seems too good to be true, but it’s important to note that Steven is a professional with over a decade of experience.

His results, although possible, are not typical, and most traders will not experience returns that good on their own until they have earned the right to make that sort of money by mastering their trading process and trading psychology.

But, the results are real. And Steven really does generate profound profits with his strategies, and even if you make half of what he makes per year, that’s still more than the average trader.

So by that metric alone, depending on how much capital you are starting with, the course will effectively pay for itself over the long-term if you successfully master the concepts he teaches.

2019 EAP Equity Curve: +150% Gain



Target Audience

There are three types of traders who will get the most value out of the EAP course, and they are:

  • Brand new beginner traders
  • Experienced traders who are struggling
  • Profitable traders who want to learn new strategies

If you’re brand new to trading, then Steven’s course will teach you everything you need to know in order to form a solid foundation to begin your trading career on the right foot.

He’ll explain risk management and position sizing, how to analyze charts and read trends, how to place trades, how to determine your stop loss and target placement, how to use indicators, how to write a trading plan and create objective rules for trading strategies, and of course he will mentor you until all of these concepts click for you.

And if you’re experienced at trading but are struggling to find success or consistent profitability with your process, then what he teaches you will help you to isolate exactly what’s going wrong with your trading – and then he’ll mentor you through the process of fixing it.

Finally, if you’re already successful and profitable, then you can simply steal his strategy rules and add a few new setups to your playbook without spending all that extra time exploring trading ideas and backtesting concepts that don’t work.

And if you’re one of the few who don’t need mentorship with finding success, he’ll still help you with ideas for strategy optimization and creation and expanding your success.

Steven is an extremely talented and very experienced trader, and I don’t think that there are any students out there who he couldn’t help to improve their trading – assuming of course that they are open to learning and willing to work hard at implementing his advice.

So I’d say his course is suited to all traders who are hard-working, who understand that trading is a long-term game, and who wish to improve their performance.




What the Course Looks Like

When you subscribe to the EAP course and become an official student, you’ll get access to a very clean and simple interface presenting all of the course content in an E-Learning layout.

Here’s a screenshot of the front-end that you will be working with as a student:

Example of Course Website

And here’s a list of all the topics covered in the course:

Basics Course

  • Intro + Course Walkthrough
  • Changing Your Mindset
  • The Anatomy Of The Candlestick
  • How To Read Price Action
  • How To Read The Trending Market
  • Advanced Structure Training
  • Intro To Indicators
  • Advanced Candlestick Entry Patterns

Transition Course

  • Introduction
  • Pullback Strategy Rules
  • Pullback Strategy Stops & Targets
  • Backtesting + Spreadsheet
  • Backtesting CAD/CHF & AUD/USD Together
  • Optimizing Your Portfolio
  • Creating A Risk Management Plan
  • Calculating Risk Per Trade
  • Creating A Trading Plan

Advanced Course

  • Introduction
  • Advanced Multiple Targets
  • Advanced Single Targets
  • TCSC Candlestick Entry Pattern
  • Double-Top / Double-Bottom Pattern
  • 123 Reversal Strategy
  • Swing Reversal Strategy
  • Aggressive Entry Strategy
  • Advanced Pattern #1
  • 3XT OTZ Training (For Advanced Entries)

Weekly Review Videos

  • 2017 Weekly Reviews
  • 2018 Weekly Reviews
  • 2019 Weekly Reviews
  • 2020 Weekly Reviews
  • (Future Weekly Reviews)

Students also get access to the EAP Facebook community where they can interact with Steven and fellow students of the market.




Why Teach?

A common question many newer traders ask when it comes to finding a trustworthy trading educator is why would they teach if they’re so good at trading?

Why aren’t they sitting by the pool drinking margaritas, doing cocaine and getting fat with a dozen beautiful women and friends partying all around with millions in cash falling from the ceiling?

The answer is simple.

There’s only so many margaritas you can drink before you get bored (or sick). Sure, after finding immense success as a trader, you could live that hedonistic lifestyle if you wanted to – but where’s the purpose? Where’s the meaning?

You don’t become a truly successful trader in the first place unless you’re driven and ambitious. You need a strong motivational drive, because trading is far from easy. It’s stressful, it’s difficult – and worst of all, it’s monotonous.

And it’s precisely due to these reasons that a successful trader might become a mentor or educator.

I’ll use myself as an example. When I first began trading, I was solely focused on mastering the skill of trading. And I still have a long way to go before I can call myself a trading master.

But once I’d worked hard for several months and became consistently profitable and intimately understood what it takes to be a successful trader – namely consistency, discipline and patience – I got bored. Seriously bored.

Unless you’re a day trader who takes 25 trades per day with huge risk and likes to live by the seat of your pants with adrenaline flowing constantly, then swing trading can get quite boring after a while.

I mostly trade the 4HR chart, just like Steven, because I enjoy having free time to invest into my passion projects – such as this website and my YouTube channel. That means I have four hours before needing to do anything between trades. And some weeks I don’t even get a setup that meets my rules!

So I became a content creator because I enjoy writing, I enjoy sharing information, and I happen to be good at it.

And because I feel such a debt of gratitude to Steven and other honest content creators out there for helping me to become a consistently profitable trader, I figure the least I can do is pass on my knowledge the same way they did.

Now I’m not yet experienced enough to offer my own trading course – but I absolutely see the allure. It’s extremely rewarding in far more than a financial sense to help other traders progress along their trading journey and attain true autonomy and financial independence.

As human beings we all have a desire to contribute to the community that raised us and provide value in some way. If it’s not through a 9-5 job, then it’s usually always through creativity, entrepreneurship or altruism.

Plus there’s the important fact that we have no control over the markets and we never know when a bad month or year is going to come along where we don’t make any money (or even lose some money), so it never hurts to have an alternative income stream. Why not make it something you enjoy doing, something that excites you and inspires you?

I love helping other traders overcome their challenges and limitations, and I can absolutely see myself becoming a trading educator myself some day. Not because I want the money, but because I want something meaningful to do with my time besides stare at charts all day.

So if you’re like me when I first started, and you’re skeptical at someone like Steven’s motivations for teaching, and you adhere to the old misconceived adage that “those who can’t do, teach” – then you’re missing the point.

Sometimes, those who can do, and do really well, are so passionate and get so little satisfaction out of keeping that passion to themselves that they want to teach and share their knowledge and help other aspiring initiates achieve what they’ve achieved – because it brings them more joy and purpose to their lives than trading profits ever could.

People like Steven are trying to build a legacy – not just a business.

Now not all trading mentors are like this – some of them simply want your money because they’re horrible traders and they need to pay their bills somehow, so they scam you out of yours.

That’s why it’s important to only work with trading mentors who are transparent about their own results – the good, and especially the bad.




Pros

  • Low Pricing
  • Equity Curve Analysis
  • Emailed Trading Setups
  • 1-on-1 Mentorship
  • Access To FB Community
  • No Hidden Costs, Required Software or Upsells

Cons

  • No Live Room
  • No Video Or Voice Call Mentorship (Email Only)
  • No Software Products or Tools (Besides Spreadsheet)



Conclusion

In conclusion, I just want to say that regardless of how much I’ve enjoyed and appreciated Steven’s guidance, it’s important that you make your own decision regarding who you choose to be your mentor.

Just because Steven’s style of teaching worked so effectively for me and many others doesn’t necessarily mean it will for you. For example, the most common hesitation I hear from aspiring or struggling traders I’ve met over the years who I’ve tried to introduce to Steven is that “he’s young”.

I hear this from mostly older traders who are accustomed to learning from men with grey hair in Wall Street style suits with horn-rimmed glasses and condescending attitudes. It’s ironic, considering they ask for my advice and I myself am only 29 as of writing this.

Unfortunately, that’s the world we live in and many of us have been conditioned to only respect authority from people who “look the part” more so than those who are actually doing the part.

No matter how hard I tried to convince some of these traders that Steven could help them, they weren’t interested. They wanted to learn from someone their own age or older.

So if you’re one of those people who can’t get past the fact that Steven is a young entrepreneur who isn’t jaded or pessimistic but full of enthusiasm and passion for what he does, and you think that youth equates to inexperience or incompetence, then perhaps his program is not for you.

And that’s perfectly fine! There are dozens of other trading education experts out there who are happy to sell you their services. Maybe you would prefer learning from a more conventional style educator like Akil and Jason from Tier One Trading.

But if you’re more open-minded about who you learn from and all you care about is that the content is affordable, easy to consume, easy to understand, and most importantly – actually works – then the EAP course is probably for you.

In any case, I’d highly recommend that you check it out – sign up for a month, and if you don’t like it, at least you know you tried. Otherwise as I mentioned earlier, he also has a YouTube channel with loads of free valuable content.

There’s no reason why you shouldn’t take your time to watch his free videos and get to know Steven’s style of trading and educating before you commit to buying from him.

I hope you found this review helpful in your quest to find your trading mentor. Having a trading mentor who is both talented at trading and at teaching is paramount to your success as a trader.

The most important thing I can stress in this review is that if you can find a mentor who you can form a close bond and relationship with such as I have with Steven, then your chances of trading success will increase dramatically.

Good luck with your trading journey, and please feel free to leave any questions, comments or your own experiences with the Email Analysis Program below.

– Matthew.


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Fabiano Giglio
Fabiano Giglio
4 months ago

I liked the way you laid out everything.
Good work :)
Something I might consider in the future but i already have paid for 3 courses and still not able to make a profit.
So my question would be, what does your course or you have different than the other 3 courses I paid for ?
Thank you

WhatSizefx
WhatSizefx
4 months ago

Hi Steven your education you give or I learn from you it’s like eating all meal in the restaurant

Kevin
Kevin
3 months ago

Thank you so much for your thorough review, much appreciated. I am thinking about signing up today, but I have a question. This maybe quite sophomoric, but does he tell you which software or online trading platform to utilize in his course? I am sure that the answer is most likely yes, and that is another revenue vertical for him, but I wanted to make sure that a platform / software selection was part of the ‘training’. Thanks

Micheal Kato
Micheal Kato
2 months ago

Hi Mathew. Am Micheal from Uganda Africa. To people like me who live on a dollar a day saving and joining the EAP will take me years. I sell fruit and make just enough to pay my two roomed house and look after my family. Am not complaining thanks to God life beats all. People like me went to school but circumstances get us striving. How can I join ? I’ve been self teaching fir a year now. Joining the transition and mastery course is but a dream for me. I can’t sell my kidney because it’s all I have.… Read more »