This is gambling NOT investing pure and simple. Have him read MMM, Bogleheads, Bogle, financial samurai, Collins, Ben Carlson, Malkiel and Ellis. Just to name a few. These are some of the brightest minds in the field on investing and your friend is going to bet against them is a sense.
Also Google some of the on-line trading reviews. One I recall charged THOUSANDS of dollars for their "advanced courses" after the $300 seminar.