William Karaman is a 22-year-old day trader, entrepreneur and owner of Traders Society, a day trading chatroom and educational program teaching beginners how to trade penny stocks and options. Will got involved with the stock market at 12 years old and has spent the last ten years to learning his craft.
Will is smart and realises it’s easier to make money teaching instead of trading full-time, let’s not forget selling education is a lucrative business. With all that recurring monthly income, you could easily do over three figures per year in revenue without having to risk capital. Nowadays, Twitter is littered with these “day trading mentors” selling expensive courses despite possessing a limited track record.
Caught Paper Trading?
I first came across young William on Twitter, he had a few thousand followers and was posting some impressive profits. What really caught my attention was when he live-streamed his $50,000 profit shorting AWX. AWX was a stock that was hard to borrow but Centerpoint did have shares to short during pre-market hours. The problem is Will forgot to change his route from ‘MARKET’ to a route that was available. Centrepoint later tweeted out they didn’t offer a route called ‘MARKET’, meaning that it was a paper trade on a demo account. Centrepoint, also tweeted out they were in communication with a lawyer regarding Karaman spreading misleading information about their brokerage.
Old StockTwits Profile
On June 2018, he tweeted out when he makes his first million he will be buying a certain watch in all silver. This contradicts an old account on Stocktwits from 2016, claiming that he turned $4,000 into $1.4 million in under 3 years. Taking the shady approach of using false claims to build a business.
Poor Customer Service
Below is a screenshot from Will’s discord chatroom. Apparently, he got annoyed by a member repeatedly asking to show proof of his track record. Can’t believe this is how Will treated a paying customer who spent $1700 to join his service. I’m more shocked at how someone could waste $1700 when there are so many free resources online!
Armstrong Williams invited Will, his family and Bjorn Brooks (successful student) onto his TV show By “invited” I mean he probably had to pay to get interviewed, TV shows don’t normally invite people on for free to promote their businesses. At first, he was giving very short generic answers to questions from the host but towards the end couldn’t stop talking! Mainly they discussed how his strategies work and what it takes to become a successful trader. His sister and Dad talked for about a minute and Bjorn (who looked like he was held hostage) chimed in with some words of wisdom. (Take a drink every time the phrase “history tends to repeat itself” is repeated).
I don’t have anything against Will personally but he does open himself to criticism by aggressively promoting his service online. The kid does have an army of haters monitoring his every move, eager to highlight any of his mistakes. To stop all the hate, Will should simply share brokerage statements to verify his track record. This is the only way he will be taken seriously, screenshots are not sufficient.
What has happened to Will?
In recent times Will became homeless because of large losses from trading options and built up significant credit card debt. He was evicted from his apartment and at one point was sleeping in his car to save money. Will deleted most of his social media channels but recently reopened an Instagram account. Based on watching Instagram stories, the state of his mental health is worrying. On the 30th of June, Will checked in a behavioural hospital/drug rehab clinic for a few days. Let’s hope he hasn’t burnt bridges with family and gets the professional help to get his life back on track.