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#daytrading #warriortrading #rosscameron #stocks #learntotrade
Warrior Trading // Ross Cameron // Day Trade Warrior
Before we continue...👀
💰Remember, day trading is risky and most traders lose money. You should never trade with money you can’t afford to lose. Prove profitability in a simulator before trading with real money.
❗❗My results are not typical. We do not track the typical results of past or current customers. As a provider of trading tools and educational courses, we do not have access to the personal trading accounts or brokerage statements of our customers. As a result, we have no reason to believe our customers perform better or worse than traders as a whole.
❌Do not mirror trade me, or anyone else. Mirror trading is extremely risky https://www.warriortrading.com/why-mirror-trading-is-a-bad-idea/.
🍏 All of the content on our channel is for educational purposes only. No data, content, or information provided by Warrior Trading, the Site, or the other products and services of Warrior Trading, is intended, and shall not constitute or be construed as, advice or any recommendation to buy, sell or hold a particular security or pursue any particular investment strategy.
✔️If you don’t agree with those terms and our full disclaimer (https://www.warriortrading.com/disclaimer), you should not continue watching our videos.
Still with me?
Now let’s dig into some helpful information …
What’s my story? ✏️ You can read it here: https://www.warriortrading.com/ross-cameron/
And check out my broker statements here 📝 https://www.warriortrading.com/ross-camerons-verified-day-trading-earnings/
Our website is filled with free info 🔎 Start with this guide, no opt-in required: https://www.warriortrading.com/day-trading/
Learn about my stock selection process, how I determine entries/exits, my strategy, and more in my free class 💻 Register here: https://www.warriortrading.com/free-day-trading-class/
#daytrading #warriortrading #rosscameron #stocks #learntotrade
Warrior Trading // Ross Cameron // Day Trade Warrior
What's up everyone? All right? Well, today is the last day for a little while in my TD Ameritrade small account side hustle challenge I'm down 500 bucks and the challenge that I'm having right now with this challenge is that I am not willing to focus on it 100% because I want to trade in my main account which is where I make money TD Ameritrade the accounts small and so I don't even on a great day I might only make 200 or 300 dollars. we're an equally great day and my big account I'd be looking at well, a great day. My bank accounts fifteen to twenty thousand her up. so unfortunately I just can't focus on it right now.
There may be a time later in the year in the summer next year where I can pick it back up and work on it. But right now I need to focus on my big account. So today I took one trade. meanwhile I was focusing on trades in my big account and he managed it well I lost five hundred dollars and it kind of feels a little discouraging and like I'm just trying to do too many things at once right now.
so I'm gonna put it on the back burner for a little bit. The account balance will stay as it is right now and I'll come back to it when it's a better time for me when I don't mind sacrificing some profits in my main account. But right now, especially being early in the year I feel like I need to me to be really working harder in my big account so that's gonna be my focus right now. Questions Comments on this recap: Feel free to leave them down below: I'll see you guys tomorrow morning and I'll be on my main account.
Alright, see you guys all right everyone! So I want to do my TD small count side hassle challenge Recap: it's a mouthful and go over my traits from today. So today is another red day in the small account Challenge I'm down 500 bucks and at this point I'm I'm kind of thinking that this is gonna be my last day in the small account just because it's it's not something I'm able to focus on and because I'm not able to focus on it I'm just not able to trade it as well as if it were my primary focus. The reason I'm not gonna make it my primary focus is because at best I would be only making maybe 200 to 250 dollars a day and in my main account I average closer to 1,700 a day. so it's just I can't sacrifice I Don't want to sacrifice the profits that I will make in my main account by focusing on this small count challenge.
but in these days I've done this account this side Hustle Challenge I have proven that you can certainly grow the account. There's two ways you can do it, of course, the one way of trading with half of the available balance each day because it's cash only or trading the full amount every other day. One of the challenges with cash only accounts is that you feel like you have to be really picky about what you're willing to trade because once you use that that buying power, you can't use it again. You can see right here I only have was it five hundred thirty dollars of buying power left.
So I'm not gonna be able trading it again until Tuesday at best and this is Friday right now I Probably by the way, won't get this uploaded until Monday because it's Friday at 4:30 But in any case, let's look at TN X P So TN X P is the one that I traded one entry, one exit you know and it was. It was the wrong. It was the wrong move today pre-market this was the price action as you can see right here and on the 1-minute chart we had a little pullback and that occurred just after the open is it started to surge up and I was like okay I'm gonna just take a position on this I'm gonna jump in first one minute camel to make a new high I'm looking for the break over 30 and I'm just gonna let it ride I'm gonna hold it and while I'm holding that I'm gonna focus on trading in my regular account. So my regular account in the first five minutes I made about three thousand dollars trading be Lph be Lph which was definitely the right move now. I could have traded this in my small account with a hundred shares and I instead of making 3,000 in my big account, I would have made about 300 in my small account. but again, big account keeps taking priority when it comes to you know what? I'm gonna trade each day. So while I was doing that, TM XP was coming back down I wasn't focusing on it at all as focusing on my main account and then I was like okay, well T an XP is pulling back I'll just give it a second. kept trading in my main account, the spy and VIX and stuff like that and then finally stopped out down here to dollar Ten.
So you know it did end up coming back up later in the day. but it was the right move to stop out and be. why is a stock just yesterday at a similar price range. They ended up making a pretty big move and that was what I thought.
that's why I thought TN XP might be a good one today. I was like, you know we just had a low price stock made a big move on the coronavirus catalyst. This one might be worth it, but no, that was incorrect. So taking the loss there drops the account back down to 3,800 and again I I Just don't have the energy right now to focus on this or the willingness to sacrifice the gains in my main account.
so I'll just leave this account it is now I don't need the money so I'll just I'll just leave it where it is. It'll earn maybe a little interest or something and maybe there'll be a point where I can come back to it and trade in it more actively. or maybe on as a summer project when the markets are slow as it is. that would be an okay time.
but right now it isn't something I can really focus on. so that is a problem unique to me. If you're trading in a small account because it's the only account you have, then you trade in it every day. You try to make your hundred a day 200 a day, whatever it is, and you're obviously happy with that.
So can you date? Trading TD Ameritrade Yes. Can you trade with margin account? Yes. If you create a cash account? Yes, you can do both with small accounts and you can grow the account so we'll see what's in store for this account in the future. But right now I'm gonna close this and that'll be the last time I open it for. well probably be quite a while here. All right, that's it for me. I Hope you guys have a great day and I'll see you all soon and make sure you tune in to my main account recaps which will be hopefully a little bit more exciting. Alright, see you guys there! Hey, did you know that? I Go live every single morning between 9:00 and 9:15 to stream my pre market watch list.
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Bring this back?
Well, you are the one that stared the challenge. This slow growth should have not been a surprise for you. You should take down this challenge.
In conclusion Ross can’t grow a cash account because of the rules 😂he gave up
I originally started with TOS on the mobile version for paper trading about a year ago, and was on my way paper trading and I got used to the pace of day trading. now getting back into it on the desktop version but cant seem to get the feel for the program.. after watching some of your content on brokers I am left confused about which broker and account type to use. I have also heard bad reviews about TOS under its new ownership and zero comm setup, although the free price is appealing the delay time (and alleged poor customer service) is not. I cannot justify a subscription for a direct access broker but I want to break into day trading small amounts and work my way up. from a newbies pov it doesn't make sense to pay for lightspeed then use a cash or ira account. Offshore brokers seem like the way to go to avoid pdt but the monthly again is too high and their services seem sketchy imo. if I cant fund a proper us margin account (25k) would a cash account or retirement count be better ? even though I want to "day trade" I would not be eligible to short sell, should I just start with Swing trading or even Position trading instead? Am I overthinking this? ! I guess all I'm asking is , Is TOS still a viable option or are there faster more intuitive alternatives? hate to ask these questions which are prob a broken record but I just cant find "what I want to hear" I suppose.
it just shows you that us rules and regulations make it extremely hard for small accounts to grow
So what you're saying is… if you know what you're doing and consistently winning, go offshore with a small account. Cash account is a grind.
We do things because they are hard. Not easy. Js
Hi Ross thankyou again for doing this challenge, it has been of incredible value for me. I was wondering when you're thinking of resuming this small account challenge again.
You shouldn’t have given up…you’d have doubled and could’ve inspired us small fish lol
Hey Ross … just stumbled across your channel. Wonder if you know of a way to send an ask +1 order to the market using TOS Active Trader. I can do it on the ladder but I get too slow chasing the price up on a fast move. Just want to configure one of my 'BIG BUTTONS' to send a limit ask +1. Congrats on your success . Thanx.
wow, the time were the stocks plumbed…:(
Ross have you been having issues with TOS having delays in filling orders causing losses? I'm looking at switching to another platform and light speed is one I am looking at.
Smart move,unusual time required a change in anyone plans. I want to see you on your main account anyway.
Go fore and mitigate
I think everyone here would do the same thing, I / we appreciate you coming this far on the small account challenge, thanks.
Hey, just wondering if you could make a video about how to get a funded account to trade with.
I have been trading for a few months now and been showing some consistency in my trading especially the past 3 months, but I need $200 to start trading forex on my broker. How do I show my skill to people so they can help me so I can become successful.
This is my passion and its hard because im trading on demo but I cant use my skill on a live account.
Could you make a video on how to get funded without having to pay monthly fees at prop firms?
If I may ask, what platform holds your "Big account"?
Perhaps you can do swing trading in the small account? I get it's a different mentality to scalping, but it'll require less oversight and offer a little variety to the channel.
who's your broker?
Do you offer trading signals service ?
Who do you recommend as a broker for day trading under 25k since TradeZero doesn't accept US citizens?
Do you think there is a possibility of the markets closing for a few weeks or being completely reconfigured?
Wait maybe i missed something here! You make up to $15,000-$20,000 on your main account and your little side account you lose $-500.00 and stressing? Ok got it! Smh
Ross, sometimes the good path isn’t the obvious one. Your small account gives more people hope than your large account. If you focus on your small account which gives many people hope, I believe it will reward you much more than your large account, especially during these hard times. That is spiritual advice from a nobody but spiritual advice has proven throughout history to be, by far , the most beneficial. God bless you brother.
Seems like a great plan, and the markets will surely rebound in the next few months for sure! Are there any stocks in particular that you are looking at next week also?
If trump stops trading next week will I loose my money. I own a few small pharma stocks ect. Hope it doesn't happen
I would do the same thing homie. Right decision. 🐢
problem with small accounts like a 500 dollar cash account , traders will never manage risk at reasonable level. mentality will be if i have only 500 dollars in my account , i'm gonna go all out to get to PDT level quickly.
you should never risk more than 1-2% of your account per trade 2 % being very generous. which is like 5-10 dollars for a 500 dollar account with no margin, and dont forget if you are risking 1-2 % on margin, you are risking borrowed money which you cant afford to lose if you are financially that limited .
if you do the math :
hypothetically say you risk 1% your account per trade. which is 5 dollars per trade that you risk. on a trade with 100 shares you are talking about a 5 cent stop loss, if you trade low float stocks 5 cent move is nothing , all these stocks barely follow any clean pattern they can stop you out easily. realistically you need at least 10-20 cent stop loss on the tight side , which means you drop your share size to 25-50 shares, unless you catch a stock on a wild day, you most likely will make 10-20 cent per share on a good trade majority of the time with small caps, which is 2-5 dollars profit. if stock goes crazy and you somehow hit 1 dollar a share profit which could be considered as huge homerun, then you make 25-50 dollars.
in summary:
growing small accounts need a lot of work and going to be really discouraging to see things progress very slowly. if you dont have at least 5-10 grand to your name which you dont have big trouble losing, trading is probably not your game.
Good for you Ross! Do what you gotta do and don’t let anyone tell you different 🐐!
You know what might be fun is turn that into your swing trade account