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Warrior Trading // Ross Cameron // Day Trade Warrior

What's up everyone? Alright, so here we are: Seventh Green Day in a row. Up Three Thousand dollars again. Well, today, I'm actually up Three thousand, Eight hundred, but three thousand in my IRA account which is the one I'm really focused on and then eight hundred taking a short in my center Point accountant. So that was like a little bit of profit.

But the IRA is what I'm really focused on because tax free. The profits are tax free and the withdrawals are tax-free That's the advantage of using a Roth IRA if you haven't already checked it out. I've got a whole video where I talk about how to set up a Roth IRA, how to make the contributions, etc. etc.

so make sure you check out that video. Maybe we'll drop a link below for it. So anyways, vii Green Day in a row. A little bit of a hot streak here.

about $23,000 in the last seven days, and now I'm about 17,000 dollars away from crossing that big finish line the million dollar mark in the small account challenge. So you know I Started this challenge over two years ago. feels like I've been doing like a master's degree cuz it's just this big long marathon and I'm getting so close to the end. So I'm thinking alright, well if I'm doing three thousand dollars a day, it's about six more days.

You know that puts me something. I'm next week Maybe fingers crossed. We'll see. So getting really close to that spot today, you know, a solid day.

No home runs, but a couple decent trades. A few decent opportunities that I sort of missed, but we're still seeing some really good action in the market. so this is a time I Think to continue to be aggressive. Now for those of you guys have been wondering: how I find these stocks, how I manage my risk? Register for our workshop tonight 7:00 p.m.

Eastern It's gonna be a lot of fun. Alright, so we'll put the link down below for you to register to that as well. Alright, and as usual, any questions, any comments, leave them below. Let me know how you guys did today.

Did you make some money? You know which trade I'll answer in the comments later this afternoon. All Right See you guys first thing tomorrow morning. All right everyone. So we're gonna do our midday market recap core the trades from this morning.

Today's gonna be the seventh green day in a row. finishing up three thousand, thirty three dollars in my IRA account as it gets up towards a hundred and twenty-five thousand dollars. Start the account this year with twenty nine thousand dollars in it, so making some really nice progress here around three hundred percent growth. You know it's just gonna be kind of this project for this year to grow the account as much as I can.

Also took some trades or one trade in Centrepointe a short on our Geo 331 dollars. So between Centrepointe and my main account I'm up $3,800 which is great You know? another really solid day. Three thousand dollar days are a good way to keep a 9 to 5 job away. So let's see you learn right this in my calendar here.
So plus 3.8 K 46 Green Day So over forty sixth day of 2019. So I now have this year forty Green Day's and only six red days which is great to end your question. I Don't know why my buying power is a little less than my equity I've kind of noticed this happening each day. It's like it's like this and I'm not really sure why that is I don't know.

It's a good question. It hasn't really been like that much of an issue. it's only a little bit less. so I don't know if it's something with Lightspeed or if they're no.

I don't I mean I'm all closed out. all the trades are closed, no open orders. so yeah, I'm not sure what that's about. it must be just something that they're doing with the way they clear my trades at Lightspeed But that's okay.

it hasn't really been an issue. So yeah. so anyways, let's start by looking at our watch list from this morning. So this morning and you know these trades, my big winner opt T was straight off our pre market watch list.

Alright, so this is our watch list this morning. Oh Geo was the leading gapper and I was watching this one initially. To the long side, I mean the only problem was that by the time the bell was ringing, it had already dropped down quite a bit. So this one had a nice long ascending wedge here from yesterday into this morning, but it broke at pre-market from 12:15 all the way up to a high of sixteen dollars and fifteen sixteen dollars and fifty cents.

So a really big break out there. And but by the time the bell was ringing, it had already sold off most of those gains. and then it sold off right out of the gates. I Took a short on it on the one-minute chart right here for a Bear Flag breakdown.

So this was a Bear Flag and I shorted it at let's see where it was. My short: twelve dollars and thirty one cents and covered at Eleven Ninety twelve and the rest of twelve thirty. it dropped down here to a low of 11 56 but then it popped right back up to 1240. So I was like, well, I don't know, maybe it's I don't know, maybe it's gonna go higher.

So anyways, sold the rest of it and I recovered the rest of it breakeven basically but still net a hundred dollars on only three thousand shares which is nice you know I mean I didn't take a huge size on it I did reserve six thousand but I only took three thousand because I was like I'm not totally sure on this setup and you know was able to get a quick eight hundred, thirty one dollars and sixteen cents. so that's nice. This is not going to contribute to the $583 to a million dollar challenge. this account isn't included so this is just kind of like you know, a little bit of profit on the side which is fine, but nothing you know, not that big of a deal.

So I'm gonna mark down today officially as being only three thousand dollars of profit towards the $583 two million dollar challenge. You know, just to kind of keep things simple. I don't want to have a deal with like a new brokerage account at the very end of the challenge because it's just like you know one more thing to have to deal with with you know, going through and you know, auditing all of my profits and everything else. so just keeping a simple finishing up the challenge with Lightspeed So I'd like to be today opt T This was a reverse split stock so reverse split today taking effect and this was our pre market chart high of $8 with a little pivot here around kind of like 750 the bell rings and it takes off I tried to jump in this I was like this looks awesome I mean I wish I could have bought nine thousand shares of this with an average of eight dollars because the bell rang and it squeezed right up to a high of 950.
So you know, just like that I could have made like twelve thousand dollars on this trade but I only filled eighteen hundred shares so I ended up not selling them I was like well whatever I'm just gonna hold them and let's see if I can find a place to get get back in. but then it came all the way back down and so I sold it for like a $300 profit. It dropped down as you can see here to a low of 755, almost going red on the day and then it started to curl back up. The first five minute candle to make a new high or the one minute kill to make a new high right here was 843 and I started adding back in 828 849 to scalp the break over nine.

Nine dollars. Add it again, 890. We got a high in the nines, but it didn't really work super well trying to take another trade there at nine, but that didn't work very well either. so we hit a high of 921.

but right in there I was able to make $4,000 getting in, you know 828-850 and selling up at 890 and nine dollars. So that was the cleanest trade of the day. and then on the five minutes. been pulling back really since that not like super strongly but just sort of fading so that was opt T the BP th this morning had a secondary offering announced pre market it dropped from forty two dollars to twenty eight and popped back up to thirty eight.

Now on this one. I did take one trade this morning I took 500 shares long at 37 and added at thirty seven fifty I was thinking if this thing's gonna make a big move like yesterday I'll give it a stab but it dropped back down so I lost 75 cents on a thousand shares so down seven hundred forty dollars But I was okay with that because at that point I was already up four grand on the day and I was like you know this is an okay trade to take a stab on so that was B P th no other traits on it al QA This one was off the hide. a Momentum scanner jumped in that with 9,000 shares right here at 41, it hit a high of 54 and then dropped back down here as you can see and so it took a $900 loss on that. So at that point I'd had two losses in a row BB th and al QA so I'd give it back about $1,600 of profit.

The next trade I took was on VV PR V V PR I jumped in to actually you know I've got a decent entry on it getting in down here at 40 right around I got in at 41 as soon as I hit the high today Momentum scanner I jumped in it right around the dollar 45 or something like that. Let's see where's the trade? So V V P are 35 45 right there. but then I ended up selling it at 46 and 51 because it kind of didn't really give us a big move you know. and then I hit 69 and dropped back down.
So I got back out. it comes back up here. I've got back in which was right here and then stopped out right here for a $600 loss. So I went from up to huh two down 400 on the train.

then I got back in this as it started to curl back up. you can see here it broke over 65. Maybe this move up to $2 So I got back in and made back about $600 So I don't know. two winners, a loser? not really.

You know the easiest type of you know trade, but whatever. So only up $200 on that and that was where I called it a day. So you know a Green Day $3,800 Definitely not the easiest day. a little choppy, but you know a Green Day nonetheless.

so I'll be happy with that right now. It puts me about 17,000 dollars away from the million dollar line in the sand that I've got here for this small account challenge. It's not really a small account anymore, but in any case, so seventeen thousand, four hundred, fifty three dollars away from the million dollar line in the sand. a hundred and Forty-seven thousand dollars so far this year.

So I've got three hundred fifty two thousand dollars between me and the five hundred thousand dollar annual goal. Which means I need to average about $1,900 a day every day for the rest of the year, every training day. And that's good because so far in 2019, I've been averaging $3,200 per day. So even if my average goes down to only 1900 a day, I'll still cross over the half-million dollar mark.

So, and you know that for me, is a good annual goal I mean it's terrifical. Of course, if I continue at the daily average right now, let's see I've got about a hundred and eighty four days left in 2019. So one hundred eighty four times three thousand would be five fifty two. plus the hundred and forty-seven thousand that I have right now would be seven hundred thousand.

So you know I mean it all comes down to the averages. But realistically, this month has been a little below average things to starting with a red day. But now I've got six days in a row or seven green days in a row. And in the last seven days, let's see how much one I made in the last seven days? I've made about twenty-two Yeah, about $23,000 So that's you know, that's really, that's a good seven days, no doubt about it, so you know, just gotta kind of keep the pedal to the metal.

Keep trading aggressively as long as we have good conditions to do that. in Whitby Pth being so strong and sympathy momentum yesterday on our Geo and opt T today. it's definitely a time to be a little bit more aggressive. I didn't take any twelve or fifteen thousand share positions today opt T didn't have quite enough volume for me to trust that type of size.
It could have happened, but it didn't give me that opportunity. o Rgo didn't give me an opportunity to the long side, even if it had. it was a little too expensive. You know I'm somewhat limited on buying power, you know 122,000 I can I can trade pretty much the way I want to with nine to twelve thousand shares.

but you know, some of these stocks as they get more expensive, become a little bit more difficult to be aggressive. So yeah. But anyway, so some profit here in the IRA some profit in Center Point which is good. So green and in both of these accounts here today.

and of course we back at first thing tomorrow morning 9:15 pre market analysis and see if we can, you know, have another three thousand dollar green day again. Reminder tonight 7:00 p.m. Eastern I'm hosting a free workshop so those of you guys that aren't doing anything this evening, you're welcome to join me and I'm sure we'll have a really great turnout. Remember the first thousand people that that attend the workshop will be in, you know, listen mode and you can also type anyone that comes in after the first thousand is in listen-only mode.

So yeah, listen-only mode means you can't type and ask me any questions. So if you want to be able to ask questions, make sure you show up a little early so maybe get there around 6:45 Alright, so that's it for me. I've got a couple mentor sessions with students this afternoon one-on-one sessions and I'm gonna get ready for the workshop tonight and I'll see you guys later today. Alright, see you guys later if you're still watching, you must have really enjoyed that video.

So why not subscribe and get email alerts anytime? I upload new content. Remember when you subscribe, you become a member of the Warrior Trading family.

By Stock Chat

where the coffee is hot and so is the chat

32 thoughts on “Tax free ira money! $3k ross’ trade recap”
  1. Avataaar/Circle Created with python_avatars Iwanna Playbass says:

    Ross I can't find your how to set up an ira account video.

  2. Avataaar/Circle Created with python_avatars Mark Walstead says:

    Why was the original hour long video about this taken down?

  3. Avataaar/Circle Created with python_avatars Fred Heidari says:

    I would love to see a video on how to save taxes by setting up an LLC

  4. Avataaar/Circle Created with python_avatars JD B says:

    Any updates on the IRA account?

  5. Avataaar/Circle Created with python_avatars Tim K. says:

    Hello Ross, It would be very helpful if you made a class with an accountant on stock taxes! There are a lot of questions if you are trading with an overseas broker, do you need to pay taxes in the us.? If you live overseas as a us citizen and trade us market, where do you pay taxes. Also, if you live overseas and trade with an overeasbroker. Thank you! Your classes are great you are a gifted teacher!

  6. Avataaar/Circle Created with python_avatars Peaceful Soundscapes says:

    I thought a roth IRA was only tax free to withdraw from if you're at least 59 years of age?

  7. Avataaar/Circle Created with python_avatars Petr Kout says:

    When you went long at $37 and $37.50 on BPTH, you put your stop loss at near $36.50 or so (that's where you say you stopped out). Sounds like a nice tight stop, but given the range the stock was having on that one minute chart at that time, it was pretty much certain that you'd get stopped out at that price even if the stop was to continue growing. How did you reason about placing the stop loss at that price?

  8. Avataaar/Circle Created with python_avatars Livc Bef says:

    Hi, from what time to what time is possible to trading in lightspeed?

  9. Avataaar/Circle Created with python_avatars Roger Roth says:

    I love it . Sticking to the money managers.

  10. Avataaar/Circle Created with python_avatars Afro Amigo says:

    Awesome gains man! So it seems the only option to benefit from paying zero taxes is through an IRA Roth account (Retirement). The only issue is waiting till the age 59 to withdraw. That's fine and dandy but I may not live that long due to cancer if it returns again. If this is the only option. Then I guess plan B is to move out of this Democratic state (high taxes, high crime rate and a high cost of living) and set foot in Texas or Florida. I'd get a tax bill for 31% instead of 40% if I'm profiting over $200k a year. I guess that's the route I'll take. I hear Houston and Dallas is quite nice…

  11. Avataaar/Circle Created with python_avatars Sean Mcfarland says:

    Can we use opening range breakouts on the 5m? like to start at the open

  12. Avataaar/Circle Created with python_avatars Thorad krupinski says:

    I actually have that buying power issue also with TradeZero.. non issue really

  13. Avataaar/Circle Created with python_avatars Thorad krupinski says:

    The vids seem like they are higher resolution👍🏼

  14. Avataaar/Circle Created with python_avatars D H says:

    lost alot more money today. Down 15k. Cant get a green day EVER. im gonna have to go back to work. Please dont like this comment. This is not a likable comment.

  15. Avataaar/Circle Created with python_avatars JChan59 says:

    missed the one minute pullback on OPTT. Didn't chase it and decided not to trade for the day. There is always tomorrow.

  16. Avataaar/Circle Created with python_avatars Tyson Paige says:

    I just signed up for your chat room and Ill be signing up for your tutelage soon. So grateful for your video's and the way you teach. From Lyme Disease to Cancer, you've given me something to be excited about that. Thank you

  17. Avataaar/Circle Created with python_avatars Houston Cranford says:

    I hope everyone makes lots of money!!

  18. Avataaar/Circle Created with python_avatars Houston Cranford says:

    Wow Ross! dude you're just an amazing trader my friend, just keep hitting them out the park. you are an inspiration to everyone that follows you!

  19. Avataaar/Circle Created with python_avatars Saul Velez says:

    Will there be another live webinar since it just cut out randomly?

  20. Avataaar/Circle Created with python_avatars Douglas Nyenke says:

    aye bro I'm really happy for you man you seem like a nice guy.

  21. Avataaar/Circle Created with python_avatars NFT Hero says:

    Good job man! Getting close to the finish line, very exciting! I'm routing for you. I'm down 6% today but I'm going to hold it overnight and see what happens tomorrow. Got a home run last time I did that. Hopefully my new career isn't short lived. lol

  22. Avataaar/Circle Created with python_avatars Chad Brinkman says:

    You'll pay taxes when you spend it. It's tax deferred, not tax free on a IRA

    ROTH IRA you're limited on how much you can put into every year.

  23. Avataaar/Circle Created with python_avatars Jon Hall - Day Trading says:

    Well done today Ross, it wasn't an easy day.

  24. Avataaar/Circle Created with python_avatars Chris White says:

    I'm just getting started and I use the etrade platform and I can't figure out how to find the gaps and bullish moves. Can anyone help me?

  25. Avataaar/Circle Created with python_avatars Kofi_Classic says:

    How did you come up with $29K in your IRA to start with when you said in your video that max contribution/year is only$5500. I got confused on this because you just started with your IRA last year right?

  26. Avataaar/Circle Created with python_avatars a says:

    your a legend ross fr!
    i look up to you

  27. Avataaar/Circle Created with python_avatars Moises Lerma says:

    thank u sir 4 ur knowledge!! semper fi!

  28. Avataaar/Circle Created with python_avatars Nadine Thabit says:

    Hi Ross, I'm a beginner and everytime i see your videos i feel upset because i found lightspeed is complicated software. Is it easy to trade with it? And i also prefere if i can use mobile or web. Any ideas?

  29. Avataaar/Circle Created with python_avatars Transit Lost says:

    Lost $1500 on SEEL by 10:30am, went straight to Cheesecake Factory for an early lunch ,then drove to the beach and rented the meanest waverunner for a few hours to let my demons loose and hit the Atlantic Ocean. Just got back ,ready for tomorrow morning !

  30. Avataaar/Circle Created with python_avatars Jesse brown says:

    Can you send the link for the video on setting up IRA Account?

  31. Avataaar/Circle Created with python_avatars Jeff and Josh Comedy Channel says:

    I thought you cant contribute to a Roth IRA if you make over $135k. Clearly you make more than that. Or is this an IRA you had before you started making money?

  32. Avataaar/Circle Created with python_avatars Bernardo Alegría says:

    nice Ro$$ exelent my man

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