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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? Alright, so in this video, I'm going to talk about Charles Schwab and the race to Zero. So this has been a huge week for active traders and even passive traders because brokers left and right have been dropping their Commission's to zero. You can check out in the description some of the links to the other videos I've done on E Trade Ameritrade and interactive Brokers, but right now we're going to talk about Charles Schwab Of course we can't talk about them without at least touching on Robhinhood so you can see right up here on my screen. Share: I've got Robin Hood on my desktop on my laptop screen.
So in 2013, Robin Hood came on the scene with Free Trades. Now it's a free trading app that many of you guys have probably used or obscene and the problem ultimately is that it's so primitive it's not gonna work if you're an active day trader trying to trade three to five times a day. it's It's suitable for someone who's a passive trader who wants to throw a little money into the market. and I think they were trying to attract, you know, Belen eels and just get people to download the app and put in.
you know, one hundred and fifty dollars so they could buy a couple shares of, you know, Facebook or Apple or something like that. So they've had a following, no doubt, and over the last few years it seems that they must be putting a dent into some of the market share for the big brokers like Ameritrade Interactive Brokers E, Trade and Charles Schwab because this week it is really you know kind of hit all-time records with all of them dropping their Commission's down to zero dollars per trade. Now Interactor Brokers was the first to do it in this last kind of wave of price cuts. What they did was they released a new kind of platform or a new product offering.
It's a very similar offering to Robin Hood. It seems like an app I Think it might work on the desktop, but it seems very primitive and it doesn't have a lot of features. Charles Schwab has done something a little differently. They just said across the board, Commission's rolling back to zero And so let's look at the Charles Schwab website for one second because this is kind of interesting to me.
So here we've got the pricing right Here It says we believe you should always know what you're paying and never overpay. Alright, so right here it says $4.95 If I refresh this page, let's see I think it was on the refresh. it's like it's this. Pricing change is so new that it doesn't like.
The website isn't even fully updated so let's see Schwab ETFs. Those have been zero for a while and stocks for a while were $4.95 per trade. So now let's just go to the Charles Schwab main website. Here we go: Zero commissions on online equity trade starting on October 7th.
All right. And then they're saying Z Trade Do it No. Does Fidelity do it? No. And they've got this satisfaction guarantee.
All right, so we can read more about this. But the long story short is that they've released this new this new commission structure which is zero and that obviously is a you know, it's a huge change What? I'm really curious about and if you're currently using Charles Schwab I would love for you to put down in the comments and what you think this is gonna mean for you if it's just simply the platform stays the same and now your Commission's are zero which is awesome. Their platforms not amazing, but it's also not terrible and you can use it. If you're an active trader, you know, or do you think that they're going to be you know, giving you free Commission's but then adding in, you know, taking things out their standard and making them premium features. like having to add on complete market data for a hundred or two hundred dollars a month or something like that because they've got to cover their bases. Some winner. Ultimately, I Think this is one of the biggest questions is how do brokers like Robin Hood How do they do it? And so let's look a little bit at some of the stats on Charles Schwab Right now Schwab says they get only about 8 percent of their total revenue from commissions, so ultimately dropping Commission's to zero, it's only gonna hurt them by eight percent. In fact, they say it's only going to have a three to four percent impact on net profit their net profit.
And I think the reason is because they currently have three point seven trillion with the T trillion dollars of assets under management. And so ultimately what they really want to make sure of is that people keep their accounts with Charles Schwab that people that trade maybe only once or a couple times a month, or a couple times a quarter. or even if they train a couple times a week that they keep their money there because those assets under management is what they really are clearly making their money on. Because it's not the Commission's They estimate that this drop in commissions is gonna cost them between ninety and a hundred million dollars a quarter, but ultimately that's still only a fraction because they're gonna do really well so their stock isn't suffering nearly as much as TD Ameritrade We'll talk about T V-- Ameritrade in another video.
If you guys haven't already seen, you can click the link below to check it out because their stock. It was fifty dollars last week. It's at thirty three dollars Today they are taking. This is the worst week they've had in twenty years and that's because commissions are a larger percentage of their profit.
But for Schwab you know I mean they're gonna have to try to make up the ground somewhere. and if they could do it by enticing more people to join the brokerage and then they've got more assets under management. Well, that's probably why they're thinking it's only gonna have a three to four percent short-term impact on net profit because they're gonna make up the ground on the other side. So leave. Leave your questions and comments below. I'm really curious to hear what you guys think about this and check out the other videos on each rate. Ameritrade Interactive Brokers And yeah, until next time. Happy Trading! If you're still watching, you must have really enjoyed that video.
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Sucks because Schwab just introduced new 6.95 fees per OTC trade. The reason I moved to them was because of their no fee OTC trading. Rethinking it now.
Which would you say is better for penny trades with triple zero stocks? Schwab or td?
Schwab fills on street smart edge are actually better than interactive brokers to my great shock.
Do you have any videos of you using their platform Street Smart Edge?
Would you recommend Charles Schwab for Charting and Active day trading ?
Thanks for the video Ross, I would like to see your thoughts on their platform for fast day trading and comparing it with TOS and light speed, Respect. Cheers
Samsung 8 plus which is the best program thinking about 1
Question can you day trade with Charles Schwab
Hi Ross.
Tell me please what is the best platform for scalping?because I hold shares maximum 1 minute (sometimes I less than 1 minute) and sell it.
is there a 15 min delay in stock price
Do I understand that Lightspeed requires $25,000 to open an account??
Hey, I am super new to the stock market and stocks in general so please forgive me if this question isn’t a very smart one lol.
Is there a way to invest in a companies stock without using a middle man/without using one of the trading apps? Like say I want to buy stock from Tilray- I do I do this without using an app like E-Trade, TD Ameritrade, Charles Schwabb, Fidelity, Robin Hood, etc;
In other words, is there a way to go directly to a given company to purchase stock from them and just keep records of your own stocks/stock portfolio??
In more other words— how do I avoid using a company to buy stock from another company??
I think Schwab is probably selling our data or possibly selling our orders to high frequency traders. I have Schwab and am satisfied, but it's my only brokerage account (Besides Robinhood because I wanted the free stock, it was worth $3.50).
You also need a minimum of $25k to day trade more than 3 times in 5 days.
which platform would you recommend Charles Schwab or TDA, i want to be able to buy stocks and have the opportunity to by and sell futures. From what i can find TDA only has about half or even less futures on offer, and Charles Schwab has what looks like all futures avalible. My concern is, from what i can find its sounds like Charles Schawb is a bit slower to make trades. TDA looks good but offers less on the futures side, and what i can find sounds like they make trades faster. Any help would be appericated. PLEASE Thanks.
Schwab also purchased TD Ameritrade. Waiting for the Think or Swim platform to be integrated with Schwab. Potentially lowering the interest rate that cash earns will offset the income from commissions.
I really want to open an account, i just cant figure out who would be best, any help would be awsome. PLEASE Thanks
Ross would you consider opening a trading account with Schwab to test it out and let us know the results?
UNTICIPATING YOUR NEW START OVER. YOU MIGHT CONCIDER REVIEWING CHARLES SCHWABS TRADING PLATFORM IF IT IS A SUITABLE PLATFORM FOR A BIGGINER TRADER AND A EUROPIAN CITIZEN. StreetSmart Edge Trading Platform Charles Schwab
have been using their platform streetsmart edge for a while. my favorite platform of all(TOS is my 2nd favorite). Did not notice any changes so far since they dropped commissions to 0
Fidelity is commission free now also
Ross,
The big issue I think is the pfof( price for order flow). will it decrease?
Robinhood was theoretically free but not really because other brokers report price improvement such as schwab. You were getting a free trade but you were not ever getting a price improvement which could be tens of dollars on each trade.
Good luck
I am form Palestine if u want to see Gaza please take a look on my channel
There platform sucks for tade trading the buy and sell executions are slower than dial up internet i could call the pit and get a faster response
TD is free too. And has one of the best workstations. I also use Schwab for Checking, because their ATM card has no foreign currency conversion fees when used overseas.
what is your comments on lightspeed and CMEG going to Commission free
Ross Im curious to know what lightspeed is up to!!! Do you happen to know if they intend to join the zero commission race sooner than later??
Get rid of PDT rule .. that is big next thing for any broker to convince the trade commission because it’s a scam
I totally disagree… Robinhood is ok for swing trading
Td Ameritrade good platform a bit faster executions but no OTC stocks, E-Trade excellent executions and just back tracked on OTC stocks and finally Schwab best customer support, good executions and OTC stocks to play with. Only question is will Ross open a Schwab acct to test?????
Does anybody know zero commission broker for Canada? Thanks
Merrill Lynch/ Bank of America is similar to Schwab but has basically Commission free for years (100 free trades per month). Clearly, cannot day trading in either brokerage, investment or at most swing trading Large Cap only
….and I had some TD Ameritrade paperwork awaiting my time to read for possible future use of their services. Not anymore!
Ok soooo I went with TD Ameritrade…eaaasssyy process 😁👍. But oooommmgggg this looks nothing like the 2 I was using previously…one was R.H…omg..omg..i have to learn how to maneuver in this thing, but cant quite afford your class yet…😢….you ought to have an essay contest and give a class away 😉….Fortunately i found likeca local weekly trading group here in —- where i can get some basic instruction….but seriously you should do a contest and giveaway a class…maybe you can use it as a tax write off….What do u think red…lol sorry..couldnt resist….I meant Mr. Ross 😊
I use TOS, and they went ZERO commision as well. I couldn't be happier! They still charge .65 cents per option contract, and I'm an option trader… but it's still a much better deal than before. I think Robin Hood is toast now, lol! Unless they can think of something to compete with the big brokers. But they just lost their ONLY advantage.
Only Interactive Brokers planed the cut, they updated their Website and you get all details. Schwab &Co only reacted. Put a statement out and that’s it. It’s a shame how they did it. But it had to be quick after IBˋs perfect planed step. I don’t think that their offers in detail will be better to IBˋs one (IB Lite) – why should they? I don’t think that they will go to 0 for heavy trader, esp. if you are using external software and their API environment. Let’s see what the details will tell us, when they update their websites.