Hey Ross, it’s Jack! great episode! Smashed the thumbs up! It’s true I didn’t have any beginners luck but what helped me out was taking it slow by not sizing up too fast to keep me in the game to gain the experience needed to become profitable. I knew that once I turned the corner it was just a matter of repeating what works and scaling it. Warrior Trading has helped me achieve success in trading and it’s hands down the best place to start your trading journey. I’ve been a member since 2021 and it’s been one of the best decisions I’ve ever made. Thank you so much Ross!!
Hey Ross. Been day trading a little over a year now, when I was in the break even phase, talking to people about my journey... the detractors... They say, you put in all that time, all that effort, and you're telling me your happy with not losing money... my answer... A DEFINITIVE YES!!! Step forward several months later, I talk to one of those same detractors... he proceeded to give me crap putting in all that time, and all that effort, and still being down overall. Moral of the story, for those reading. Don't let the detractors get you down. Keep putting in the work. Keep staying disciplined.
@@DaytradeWarrior you said in this video that you started the year with $700K. Do you usually use that full amount + margin in every trade? If not, approximately how much do you use per trade? (without margin) Thank you.
This has been one of your very best shows Ross , speaking so plainly from your wealth of knowledge is refreshing to hear on what can be a complicated subject.
September I hit a reset and the past 3 months I’ve had 65% accuracy and 1.5:1 P&L. But net income has been red because of commissions. I have been trading with small size. But yes! It improved my confidence and all I have to do now is deposit more now, increase my share size and keep trading the same strategy. 2024 is my year!!!
Hi Ross, I just wanted share with that I finally saved enough to buy an F15 trading laptop. Looking forward to being with you in 2024. I'm saving up for that too..lol 🎉 Thank you for being so inspirational over the past 5 years. You are the best!
Looooved this episode!!! Helped me realize a few things I've been doing wrong and what I can do better. thank you so much. Looking forward to the small account challenge.🥳
I've definitely lost confidence. But building back slowly. Not adding any money to a small account, margin off, and building it, and my confidence back up. Going well so far 😅
Ross - A couple of questions: 1) Why do actually 'specify' a profit target; in a trend, isn't the profit 'open-ended'? 2) How much capital (including leverage) did you employ to make the $306k in 2023? Also good point where you said "...am I risking $3,000?... no, I'm risking $150..." is a very important point. People need to enter the $150 into any Kelly Criterion calculations, NOT the $3,000.
Hey! Yes 1) a stock should have the reasonable potential to give 2:1 profit/loss. I can hold longer. 2) I rarely took trades exceeding $100k total value
@daytradewarrior When I see your stats I am reminded that a trader just needs that small edge. Your stats are sobering some will FOMO over $300,000 and say i want that. it was the little number that stood out and meant the most. I don't think anyone would set a goal for 2 cents a share by the end of the year, especially right when they are FOMOing into a stock with 10,000 shares that has moved from $2 to $7. Their thought is can this move another $5 a share not can i get 2 cents out of this. You are right about the break-even trader and how big of a deal this is when you can see what just a penny a share can do.
Ross, great video as always! As a full time trader, how do you cover cost of living expenses from your trades? My understanding is that the majority of your trades are made from within a retirement account which - if I understand correctly - cannot be withdrawn from. Although this helps grow your account (due in large part to being exempt from tax), I fail to see how these profits can be used to cover daily cost of living expenses. Do you instead cover daily expenses through your LLC and Warrior Trading salary? If so, a video covering how you have all that setup would be appreciated
So the income I get from royalties from my book, TH-cam revenue, and income from trading tools and trading courses can’t be earned in a tax free account. So those I have no choice but to pay tax on. So that income goes to cost of living and savings, and then for trading, I don’t want to add even more taxable income, so I let that be 100% in the retirement account. I’ll say tho, it’s pretty cool you can trade in a retirement account. There aren’t many jobs where your earnings can be saved tax free for retirement.
One option would be to start with 2500-5000 in a cash account. Trade with 250-500 in capital each trade at a time but use only up to half of the account size because cash used for stocks take 2 days to settle, then you could trade a few times every trading day.
Trade in a simulator - for sure the best advice - 18 months in a SIM and still not live - the amount of money i saved doing so is crazy. the losses are big lessons - learn how to lose first!
The jump from the simulator to trading with real money is huge. I honestly think anything more than 3 months in the sim is a waste. You have to trade with real money in order to master your emotions. Start very small but get out of the sim.
When im selling (day trading penny stocks) should i join the ask to sell or sell the bid minus one or minus two? Im not worried about a little slippage if rips down but im flirting with the rite way to set my hit keys to get in and out any advise?
@@o0king23that’s highly looked down upon but hey, if that’s all that’s available at the moment, then screw it. I got a nice 10% on a trade Friday end of November on a road trip to Florida. Do what ya gotta do!😀
Not a bad year at all. On your number of trades, do you count a BUY as a trade and a SELL as a separate trade? Or is the BUY and the SELL together considered one trade when looking at your number of trades? When you average in with a few BUY trades, are each counted as a separate trade? Just trying to get a perspective comparing it to my trading and my results to see how I stand. Thanks ...
I know your daily goal is 5k do you think if you change it from 5k to 3k do you could get your performance percentage up ? Because most days you be up 3k anyway? That’s still 750k a year
Maybe so, I left my higher daily goal from 2022 thinking I’d be able to hit it consistently but I can up short many days. Over trading also drove commissions higher. I suppose if I set goals lower then walked away when I hit them if generate less commissions at the least
hi Ross, another great video with tons of great info. One question I have is you say you started your IRA trading account with 18K but only traded 3X's a week because you were under 25K which I take to mean that your trading with margin, i thought you cannot trade with margin in an IRA account. please clarify, thx
You can apply for a margin account so trades effectively settle immediately and you can keep trading BUT they don’t offer any leverage. So it’s really just settlement margin.
so how im suposed to not trade water also there isnt 2 to 1 trades, u dono when there gona spike 2 to 1 and u cant selll half, coz small account... doent make sense
I wanted to ask here, you mentioned the solid advice of trading in a simulator. I’m going down this path now but when I look into the application like for level 2 (edit: or level 1), it asks for a 10k account for the free version. Is there any solid applications you would recommend to get started while using paper trading?
On average there are 252 trading days a year. So if a trader can average / make and retain around 1,200 a day they will have a really good year..... As a newer trader I realize trading consistency takes time, so I'm setting my sites much lower. Currently, I only trade Nas 100 and most days there always seems to be opportunities can't wait till I'm seasoned enough to capitalize more often.
Hi. I took a position on the EURCHF in the M30 timeframe yesterday. I was almost 2:R in profit, and I moved my stop loss to breakeven but slightly positive. To my surprise, I ended up with a loss even though the price didn't touch my stop loss. The only observation is that a gap formed in M1 but not in M30. Does anyone have an explanation? It's Deriv 🙏 Another thing: the same thing happened to me when I was trading in demo mode initially. I was in profit, and on the chart, they wrote "market closed" within a 10-second interval and then "market open." They automatically closed my position, even though it was a Monday evening. Still Deriv.
Thanks @rossCameron. Just curious to know, you mentioned in many previous videos that Warrior trading is also a software company. What tools have you developed? Bruce (An Engineer from the UK).
Ross, thank you so much for sharing your knowledge and insights. It has truly been inspiring for me as a trader in helping me control my emotions. You are the most authentic trader in sharing content and I’ve felt it has been the most helpful content out there.
So, your average trade is 3 minutes. So, you dont get in and out of a trade fast right? I wonder how u do that if the stop loss is tight and close to the bottom of the previous candle. How it doesnt stop you out in so much time. I would imagine you get in and if in 30s it hasnt gone up you may fear a flash and close the position. But, I see 3 minutes in losses and winners as well. A little tough for me to keep that much cause most stock go up for 1-10 minutes and then flash hard and then they go sideways. Yes, even those with news. I may try keeping my trades for longer and see what happens. Maybe it is the right thing to do but I have also seen some other guys that get in and out in 5-10 seconds like Tim or another guy on your channel dont remember his name. Isnt that safer for a beginner? Thanks!
Hey Ross, nice year end profit you made. I will be demo trading in 2024. What are some of the best trading platforms for beginners to demo trade in 2024? Something simple and easy for beginners?
@DaytradeWarrior thanks Ross, Happy New Year! I'm at 7 months and holding my own. I'm break even, granted I don't risk a ton right now. Appreciate all the videos and instruction!
@@DaytradeWarriorI am in Canada and not familiar with retirement account. How do you manage your daily expenses because I understand if you spend from retirement account they tax you. Do you have a monthly salary?
Ross, do you pay yourself monthly salary? I saw in a comment that all is in retirement account. How do you pay yourself? I know you trade pre market. Do you trade post market? Job well done in 2023🎉 congratulations 👏🏾. Can’t wait to make $200K next year. Here is to a great 2024 to us all 🎊
Hey Ross I am guessing you are in USA? I am new Zealand so I will have to get up 3am to watch your live broadcast which I don't mind... just confirming
Great content. Don’t you trade with million dollar orders? In small caps will be very risky but just curious if that is the reason. 2020 and 2021 seemed to be your big profit years
Ross you have 11 million in profits right? Why dont u size up or is it too low liquidity in your stocks? because i feel like 3-5k a day is low if you have a 5mil+buying power
Ι am just wondering if this possible for all of us if w learn the stuff needed, why with numerous years of experience he has capped in 300.000$ and not scale to 1 2 3 5 10 20 50 millions by just using for money and more leverage? Sorry if that question sounds naive or easy I am a beginner. But I am just thinking that if Ross is able to only make 300k we should target 5-10k a year maximum.....
Hey Ross, it’s Jack! great episode! Smashed the thumbs up! It’s true I didn’t have any beginners luck but what helped me out was taking it slow by not sizing up too fast to keep me in the game to gain the experience needed to become profitable. I knew that once I turned the corner it was just a matter of repeating what works and scaling it. Warrior Trading has helped me achieve success in trading and it’s hands down the best place to start your trading journey. I’ve been a member since 2021 and it’s been one of the best decisions I’ve ever made. Thank you so much Ross!!
Thanks Jack! Keep up the great work!
Hey Ross. Been day trading a little over a year now, when I was in the break even phase, talking to people about my journey... the detractors... They say, you put in all that time, all that effort, and you're telling me your happy with not losing money... my answer... A DEFINITIVE YES!!!
Step forward several months later, I talk to one of those same detractors... he proceeded to give me crap putting in all that time, and all that effort, and still being down overall.
Moral of the story, for those reading. Don't let the detractors get you down. Keep putting in the work. Keep staying disciplined.
Moral of the story...Don't share your journey to others, no one really cares about it except yourself!
Thanks Ross, Really great video. Probably the best one you have done! So informative. Congrats on a great 2023! All the best for 2024! 👊🏼
Cheers thanks Ben!
@@DaytradeWarrior you said in this video that you started the year with $700K. Do you usually use that full amount + margin in every trade? If not, approximately how much do you use per trade? (without margin) Thank you.
This has been one of your very best shows Ross , speaking so plainly from your wealth of knowledge is refreshing to hear on what can be a complicated subject.
Thanks Ross! Happy New Year, and the best for 2024!
September I hit a reset and the past 3 months I’ve had 65% accuracy and 1.5:1 P&L. But net income has been red because of commissions. I have been trading with small size. But yes! It improved my confidence and all I have to do now is deposit more now, increase my share size and keep trading the same strategy. 2024 is my year!!!
What commissions? Most brokers are free!
Thanks Ross for teaching all over the 2023 and helping so many people. God bless you and Happy New Year 2024.😊
Hi Ross, I just wanted share with that I finally saved enough to buy an F15 trading laptop. Looking forward to being with you in 2024. I'm saving up for that too..lol 🎉
Thank you for being so inspirational over the past 5 years. You are the best!
good job ross! happy new year
Thanks Ross and happy new year.
Only 9minutes in and the perspective you just gave was spot on for me. I’m risking way too much. Thank you for everything you do.
You got this!
man i love stats...keep it up ross.all the best for next year
Thank you Ross. Nuggets of knowledge as usual.
That is why I follow you. Once again you hit it out of the park. Luv ya brother !!!!
Great story (and lesson) about FOMO on the stock you had actually traded
Thank you Ross very much for this amazing video. Happy New Year!!!
Love warrior trading. Became a warrior pro student last sale and I’m so excited and learning so much 😊
Looooved this episode!!! Helped me realize a few things I've been doing wrong and what I can do better. thank you so much. Looking forward to the small account challenge.🥳
You’re such a real person , and not a fake I find so much value in that. I’m an option trader but still love your videos keep em coming.👍
Happy New Year and Congratulations my brother. You are an INSPIRATION.
Happy New Year!!
Ross your system has helped me tremendously. Thanks brother.✌🏿
Wednesdays were pretty rough in small caps. I took a pretty large hit myself, on a Thursday tho. Thanks for the recap.
I've definitely lost confidence. But building back slowly. Not adding any money to a small account, margin off, and building it, and my confidence back up. Going well so far 😅
Congratulations Ross. I love watching you. I'd love to be better at this. But you are fantastic in all teachings.
I think 2023 was not an easy year for day trading. Congratulations 🎉 Ross
Happy New Year mentor Ross
👋🏽🥳🎉
The book is awesome I read ur first one and now this one thank you
Good vid, very straight forward
Looking forward to a better trading career in 2024
I've bought your book from the Books App on my iPhone and will be buying the hardcover version to add to my collections
Ross - A couple of questions: 1) Why do actually 'specify' a profit target; in a trend, isn't the profit 'open-ended'? 2) How much capital (including leverage) did you employ to make the $306k in 2023? Also good point where you said "...am I risking $3,000?... no, I'm risking $150..." is a very important point. People need to enter the $150 into any Kelly Criterion calculations, NOT the $3,000.
Hey! Yes 1) a stock should have the reasonable potential to give 2:1 profit/loss. I can hold longer. 2) I rarely took trades exceeding $100k total value
How do we get our hands on a good scanner?
Remember Ross just like you told us in the classes you only need 10 cents a share
@daytradewarrior When I see your stats I am reminded that a trader just needs that small edge. Your stats are sobering some will FOMO over $300,000 and say i want that. it was the little number that stood out and meant the most. I don't think anyone would set a goal for 2 cents a share by the end of the year, especially right when they are FOMOing into a stock with 10,000 shares that has moved from $2 to $7. Their thought is can this move another $5 a share not can i get 2 cents out of this. You are right about the break-even trader and how big of a deal this is when you can see what just a penny a share can do.
merci , très important pour moi tes conseil bonne année
you are the most knowledgeable trader ,thanks you for the videos.
Do you have a video in detail of how you set up your trading company and the steps you took to set it up as a salary paying job for yourself?
Ross, great video as always!
As a full time trader, how do you cover cost of living expenses from your trades? My understanding is that the majority of your trades are made from within a retirement account which - if I understand correctly - cannot be withdrawn from. Although this helps grow your account (due in large part to being exempt from tax), I fail to see how these profits can be used to cover daily cost of living expenses.
Do you instead cover daily expenses through your LLC and Warrior Trading salary? If so, a video covering how you have all that setup would be appreciated
So the income I get from royalties from my book, TH-cam revenue, and income from trading tools and trading courses can’t be earned in a tax free account. So those I have no choice but to pay tax on. So that income goes to cost of living and savings, and then for trading, I don’t want to add even more taxable income, so I let that be 100% in the retirement account. I’ll say tho, it’s pretty cool you can trade in a retirement account. There aren’t many jobs where your earnings can be saved tax free for retirement.
Thank You for answering the question Ross. You are always so transparent. You truly are the best!@@DaytradeWarrior
Most of the traders who earn millions just focus on Flexing their luxury life. You are just awesome to be so simple and workaholic.
Hi Ross are you trading 7am Eastern time? Are you trading options at all?
Anyone know how and where i can download his annual tracker?
Hi again also how can you get things going without 25k in the account? Gotta swing trade right??
One option would be to start with 2500-5000 in a cash account. Trade with 250-500 in capital each trade at a time but use only up to half of the account size because cash used for stocks take 2 days to settle, then you could trade a few times every trading day.
@@Gogh-Jam ok so then I could day trade ??
and I am too excited for the second small account challenge!
Trade in a simulator - for sure the best advice - 18 months in a SIM and still not live - the amount of money i saved doing so is crazy. the losses are big lessons - learn how to lose first!
The jump from the simulator to trading with real money is huge. I honestly think anything more than 3 months in the sim is a waste. You have to trade with real money in order to master your emotions. Start very small but get out of the sim.
When im selling (day trading penny stocks) should i join the ask to sell or sell the bid minus one or minus two? Im not worried about a little slippage if rips down but im flirting with the rite way to set my hit keys to get in and out any advise?
I keep forgetting about day trading and my ambition. Watching your videos remind me to get back in it once I build my portfolio back up.
Ross you are a great trader but you may even be a greater teacher
What Brocker do you use?
Once I am no longer homeless, I will get a computer and start learning how to day trade.
🤣
You can do it straight from your phone no need for a computer
@@o0king23that’s highly looked down upon but hey, if that’s all that’s available at the moment, then screw it. I got a nice 10% on a trade Friday end of November on a road trip to Florida. Do what ya gotta do!😀
Me too, once I’m no longer homeless, I will get a computer and do day trade again😅
Get a job first
Not a bad year at all. On your number of trades, do you count a BUY as a trade and a SELL as a separate trade? Or is the BUY and the SELL together considered one trade when looking at your number of trades? When you average in with a few BUY trades, are each counted as a separate trade? Just trying to get a perspective comparing it to my trading and my results to see how I stand. Thanks ...
How do we join the small account challenge?
Thanks❤
Is there any audible version of the book available?
Not yet, but coming soon!
I know your daily goal is 5k do you think if you change it from 5k to 3k do you could get your performance percentage up ? Because most days you be up 3k anyway? That’s still 750k a year
Maybe so, I left my higher daily goal from 2022 thinking I’d be able to hit it consistently but I can up short many days. Over trading also drove commissions higher. I suppose if I set goals lower then walked away when I hit them if generate less commissions at the least
Awesome consistency...2024 wash rinse repeat..
hi Ross, another great video with tons of great info. One question I have is you say you started your IRA trading account with 18K but only traded 3X's a week because you were under 25K which I take to mean that your trading with margin, i thought you cannot trade with margin in an IRA account. please clarify, thx
You can apply for a margin account so trades effectively settle immediately and you can keep trading BUT they don’t offer any leverage. So it’s really just settlement margin.
Would like to see you trade on TD Ameritrade over pdt.
Thank you Ross
so how im suposed to know my profits to ls ratio
so how im suposed to not trade water
also there isnt 2 to 1 trades, u dono when there gona spike 2 to 1
and u cant selll half, coz small account... doent make sense
Ross are you on a per share or per trade commission plan?
Per trade plus ECN fees
Do you use a limit offset? Or buy bid ask?
definitely enjoy videos
I wanted to ask here, you mentioned the solid advice of trading in a simulator. I’m going down this path now but when I look into the application like for level 2 (edit: or level 1), it asks for a 10k account for the free version.
Is there any solid applications you would recommend to get started while using paper trading?
On average there are 252 trading days a year. So if a trader can average / make and retain around 1,200 a day they will have a really good year..... As a newer trader I realize trading consistency takes time, so I'm setting my sites much lower. Currently, I only trade Nas 100 and most days there always seems to be opportunities can't wait till I'm seasoned enough to capitalize more often.
You're awesome for handing people the keys to succes for free. All the people have to do is grab the keys.
Hi. I took a position on the EURCHF in the M30 timeframe yesterday. I was almost 2:R in profit, and I moved my stop loss to breakeven but slightly positive. To my surprise, I ended up with a loss even though the price didn't touch my stop loss. The only observation is that a gap formed in M1 but not in M30. Does anyone have an explanation? It's Deriv 🙏
Another thing: the same thing happened to me when I was trading in demo mode initially. I was in profit, and on the chart, they wrote "market closed" within a 10-second interval and then "market open." They automatically closed my position, even though it was a Monday evening. Still Deriv.
Whats your average trade amount Ross?
I’d have to check in my metrics but avg position size was probably 10-15k shares this year
Triple for 2024🎉🎉🎉🎉
Thanks @rossCameron. Just curious to know, you mentioned in many previous videos that Warrior trading is also a software company. What tools have you developed? Bruce (An Engineer from the UK).
Hi Bruce, we’ve developed the custom scanners, charts, chat room, and live streaming platform!
Buenos dias Ross good morning happy new year .i have a A q.Can you do a account chalange starting with 500 dollars .thanks
Ross, thank you so much for sharing your knowledge and insights. It has truly been inspiring for me as a trader in helping me control my emotions. You are the most authentic trader in sharing content and I’ve felt it has been the most helpful content out there.
So, your average trade is 3 minutes. So, you dont get in and out of a trade fast right? I wonder how u do that if the stop loss is tight and close to the bottom of the previous candle. How it doesnt stop you out in so much time. I would imagine you get in and if in 30s it hasnt gone up you may fear a flash and close the position. But, I see 3 minutes in losses and winners as well. A little tough for me to keep that much cause most stock go up for 1-10 minutes and then flash hard and then they go sideways. Yes, even those with news. I may try keeping my trades for longer and see what happens. Maybe it is the right thing to do but I have also seen some other guys that get in and out in 5-10 seconds like Tim or another guy on your channel dont remember his name. Isnt that safer for a beginner? Thanks!
Damn.. that’s amazing
Hey Ross, nice year end profit you made. I will be demo trading in 2024. What are some of the best trading platforms for beginners to demo trade in 2024? Something simple and easy for beginners?
that's actually pretty low considering you are one of the best
Warrior Trading looks like a Dr Seuss character
What platform I can use in dubai ???
I might have missed something but how are you pulling money out of your Roth IRA without taking the penalty?
I leave the money in the Roth IRA to keep growing, I haven’t taken anything out. I just keep reinvesting it.
@@DaytradeWarrior gotcha I understand now thanks and happy holidays!
this is so good
Nice .. I did $287,000.. funny in 2021 i made that in 1 month times have changed hope they go back to those days
Same!
Ross, from your experience, of the profitable traders you know, how long on average does it take them to be consistently profitable, ballpark?
for me 3.5 Years
Most successful traders I know turned the corner within 2 years, 3 at most
@DaytradeWarrior thanks Ross, Happy New Year! I'm at 7 months and holding my own. I'm break even, granted I don't risk a ton right now. Appreciate all the videos and instruction!
hahaha the single most unrealized profit in my life was 400k chf, then realized with 250k with one trade...Ross keep going
DO U TRADE OPTIONS
No options stock only
In your past say 10 years how does 300k for the year compare?
TY
What percent/ $ amonunt of this will be paid in taxes ?
0.00 from day trading income. This is all in a retirement account!
@@DaytradeWarriorI am in Canada and not familiar with retirement account. How do you manage your daily expenses because I understand if you spend from retirement account they tax you. Do you have a monthly salary?
I want a scanner
Ross, do you pay yourself monthly salary? I saw in a comment that all is in retirement account. How do you pay yourself? I know you trade pre market. Do you trade post market? Job well done in 2023🎉 congratulations 👏🏾. Can’t wait to make $200K next year. Here is to a great 2024 to us all 🎊
Warrior Trading isn't free...
Hey Ross I am guessing you are in USA? I am new Zealand so I will have to get up 3am to watch your live broadcast which I don't mind... just confirming
Great content. Don’t you trade with million dollar orders? In small caps will be very risky but just curious if that is the reason. 2020 and 2021 seemed to be your big profit years
No, he doesn't trade in million dollar orders.
I traded with big size in 2020-2021 but I’ve scaled back down, I trade with relatively small size now. $100k in my account is more than enough.
$306K nothing to sneeze at, but think I remember you making more than that actually several times in only one day. Still congrats (and no offense).
Wow, Ross, you hit the nail on the head! Share that proof and leave those doubters (Haterz) speechless. You're a legend! Tell Iman to kiss your @$$
300k + . Nice!
Ross you have 11 million in profits right? Why dont u size up or is it too low liquidity in your stocks? because i feel like 3-5k a day is low if you have a 5mil+buying power
I don’t trust myself to try to day trade with 5-10mil positions. I’d rather invest it long term for 10%/yr
and those $10.7M are just from trading, we are not even counting how much he is making by teaching people, what a legend! :D
Ι am just wondering if this possible for all of us if w learn the stuff needed, why with numerous years of experience he has capped in 300.000$ and not scale to 1 2 3 5 10 20 50 millions by just using for money and more leverage? Sorry if that question sounds naive or easy I am a beginner. But I am just thinking that if Ross is able to only make 300k we should target 5-10k a year maximum.....
The $5K daily goal?
What about starting with $500,000 to make billions. Can that be accurate?
So after all that work it’s 150k ish after taxes.
$0 in tax. He has it in a Roth IRA account.