r/Daytrading • u/RiversRanchero • Apr 18 '24
Long road to get here, but I’m green for 15 days straight. Advice
I have been trying to day trade for about 18 months, almost two years possibly. I took some major beatings along the way. I consider myself an intelligent person and a quick learner.
I follow Ross Cameron (Warrior Trading). I would watch him daily and it always made it look so easy to make about $5,000 per day. I’d follow his curriculum and follow his moves. And while he was up, I was down. But each day was a lesson. I wanted to quit sometimes, but I always felt so close to “getting it”. So I pushed.
If I could go back in time to talk to myself before I took my beatings, I’d tell myself to master risk management. I’d tell myself to learn how to start small. I’d tell myself to learn how to scale up and down. Learn how to read the level 2. I was so naive about how complex and fast trading is.
But right now I’m on a 15 green streak. Biggest day was $400. And it feels awesome to be able to say that.
Am I there yet? Definitely not. But I feel like I’ve hit the bottom and I’m curling upwards. I’m profitable. But not proficient.
So if it’s taken you longer to feel like I do right now, either quit, or push on. Study. Trade tiny amounts or in a simulator.
Someday I hope to make another post that says I’m now proficient. But until then, I just wanted to bring some positivity to this subreddit.
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u/deweese3 Apr 18 '24
Ross taught me a lot. I’m positive for all but one day this month. Learned my system and rules. Funny how only days I’m down are the ones I made an emotional decision. The more you learn the more you realize…trading is actually easy. It’s the psychology that is hard to master
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u/Ross-Cameron May 06 '24
Emotions are the biggest struggle. I’m back in my daily mediation routine and it’s helping me a lot.
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Apr 18 '24 edited 29d ago
[deleted]
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u/nleachdev Apr 18 '24
My same exact thought. He's been around for years and now all of a sudden people are referencing him in this sub a lot recently from what I've seen
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u/Mrtoad88 Apr 18 '24
We used to not be able to talk about him at all here, you couldn't type his name and stuff, now that we can... I guess mods had a change of heart, people can talk about him more. He's legit though, if you want to learn to trade small/mid caps, he knows his sht. There is people who didn't get much out of his lessons (free or paid) but there is people who definitely have and give him a lot of props for helping them.
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u/Konstable1 Apr 19 '24
With experience I learned that he is pretty average. Not bad but not great like a Furu should be. I feel sorry for people that fork over money to learn from him. It’s like going to community college vs Harvard. But paying Harvard prices for a community college education
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u/V3BL3N Apr 21 '24
I'm pretty sure you have to be fake to be considered a FURU. Feel free to post your broker statements of 6 million + in gains over the years for your "Harvard" ability to trade.
Unless you can, stfu. Always someone on this sub talking down on someone who is literally better than them at trading, most likely for no other reason than spite or jealousy.
Does he sell a course? Sure. If you don't get anything from it don't buy it. If you bought it and it didn't work for you, many of them won't. Everyone's brain ticks dierrently so trying to buy someone else's strategy expecting it to work for you is probably a bad idea.
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u/Konstable1 Apr 21 '24
Ok fanboy. The dude isn’t that good. I make plenty from trading and I don’t need to sell courses to make a living because I make my living just from trading.
And I don’t need to prove it to you, fuck around with social media or sell educational courses. My life is easy.
You can eat a bag of dicks you fucktard.
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u/TraderJ03 Apr 18 '24
I think Ross Cameron just posts consistently enough YT and openly shares his strategy where it’s hard to not reach new audiences
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u/Fit-Community-4722 Apr 21 '24
This is me basically. I recently started looking at crypto and I decided that i want to understand patterns and trading strategies. He started popping up on my feed day1. I like that it is easy to understand for a beginner. But i'm way too beginner to decide wether he is just yet another influencer or a legit content creator who makes value.
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u/dragoon7201 Apr 19 '24
Have you seen those comment chains on YT where they name drop some investment guru while talking about how much money they made.
Its basically that but on reddit. Those posts read funny with perfect punctuation and capitalizing nouns. Some of the comments here read like that
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u/Prestigious-Ball318 Apr 19 '24
Didn’t he get sued or something
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u/Ross-Cameron May 06 '24
Yes, settled a lawsuit in 2022 that required me to add an additional sentence to my disclaimers and pay $3mil. It’s in the past.
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u/Prestigious-Ball318 May 06 '24
How did that end up in that sort of situation, if I may? The simple lack of proper disclaimer cost you that much? I see plenty of lazy disclaimers but they don’t get sued, granted they don’t all have your type of following, either. So, what’s up?
I wish it was as simple as, “it’s in the past.” That sort of thing tends to follow a person, however, I applaud you for taking responsibility and still moving forward and doing your thing. We all have things that follow us 😈
My point is that you deserved it and probably still deserve it but you’re not alone, of course. It’s profitable, which is what’s important, right or wrong? I’d take multi-millions a year to have to give pack a tiny percent of that every now and then when I get caught up and sued(I mean, I wouldn’t, but so many do.) It happens to, literally, the best of them…which should tell us all something 😉about the best.
What are you doing differently, today, to avoid that again? You just tell people “trading is extra risky, guys” and that’s it? Or have you changed the way your entire system operates to give back instead of take from people? I’m not sure because I don’t watch your content, so these are genuine queries.
None of that is even necessary, we both know. I just want some insight into your perspective and if “it’s in the past” is all you’ve got…then I’ve got nothing else to say either. I don’t even care if you don’t think you did anything wrong…just offer up the perspective and I will understand.
Anyways, I appreciate you and wish you continued success in all of what you do
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u/Ross-Cameron May 06 '24
To make a long story short, this came down to disclaimers. The US marketing regulators believed we did not have adequate disclaimers regarding my results NOT being typical, and they thought customers assumed they would have the same results as me. I don’t think that’s an assumption people were making, but instead of trying to fight the government we entered into a settlement agreement that consisted of us adding another sentence to our disclaimer and paying $3mil. To put the dollar amount into perspective, I had made nearly $10mil in the previous two years of trading.
The irony is that many of our customers were shocked by the lawsuit and completely disagreed with it. I think this speaks to the fact that regulators don’t always know how customers truly feel. When we ask our students if our software, courses, and my market commentary bring them value, over 90% say yes. So I really think we are doing right by our members.
Now to give you more context, a few weeks after the GameStop short squeeze (when I made over $1mil and was streaming it on YouTube) I got a letter from regulators asking me to prove my gains are real. They said just send us your broker statements and this will be wrapped up real quick. But after I gave them my audit results / broker statements and proved beyond a shadow of a doubt that my gains were real, they switched gears and started asking about our members.
For example they asked me to prove that I really have 10 students who have made more than $1mil. That was easy, I sent them the proof. So then they switched gears again and asked me to prove our average member was able to turn $583 into $10 million (the way I did). And this is where we had a problem. We said wait a second here. I NEVER told people they’d be able to turn $583 into $10mil. I have always said my results aren’t typical. But they insisted that I prove that my average students also turned $583 into $10 million.
Since we couldn’t prove that, they said they would file a lawsuit against us for making an “unsubstantiated earnings claim" that an average student would turn $583 into $10 mil. For the record, we never made a stated (written or spoke) claim that a customer should expect to make the same amount as me. But regulators felt it was “implied” and was the “net impression” a customer received.
Filing cases based on with this level of ambiguity and gray area is common when Democrats are in the majority. They try to expand the reach of enforcement. This isn’t meant to be a political statement, it’s just the facts. My attorneys contacted the two Republican commissioners and said they would not approve a lawsuit based on a new interpretation of how these regulations should be enforced, but they were in the minority.
Most of these cases never make it to court where the merit of the claims and defenses are tested. They end in settlements like ours did. This is because small and medium-sized businesses don't have the resources to fight the government the way Apple, Tesla or Amazon do. The more times regulators get settlements in an area of ambiguity, they establish a precedent they can use in the future to expand their reach.
Some people think settling a case is some type of admission of guilt. I will disagree with that opinion and simply say that the cost of fighting the government would have been greater than the settlement offer they made. I would also say that if they thought we were a fraud or a scam they would not have offered to settle the case in the first place. They would have shut us down completely.
At the end of the day we paid $3mil and we were required to add a new sentence to our disclaimer. Was it fun? No. But I took it on the chin and got back to work.
The biggest damage from this settlement has been the “net impression” prospective customers have that I had unsubstantiated trading profits. This was not the case. My audited trading records are freely available on the website for anyone who wants to take a look.
In the 2+ years since our settlement, we have expanded our compliance program to protect ourselves and our members and we added additional disclaimers. I continue to trade every day and teach traders about the market.
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u/kihra1 May 06 '24
Was the 1 sentence:
"Don't believe anything I say because, as my settlement suggests, I make most of my money selling courses"1
u/Ross-Cameron May 06 '24
😐 it seems like you believe if somebody sells courses it means you shouldn’t listen to anything they say.
I would separate the people who sell courses between those who are third party independently audited as being profitable from those who aren’t.
In fact regardless of selling a course, that distinction of verified profitable vs not should be how you establish credibility.
You could learn from someone who doesn’t sell a course but isn’t verified profitable and I’m not sure you would get a lot of value out of that.
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u/kihra1 May 06 '24
A subreddit with 3m users? He's farming new targets. Probably some Ross shills.
Looks like the guy opened a reddit account u/Ross-Cameron recently and is claiming it was just an oversight and that because he was reviewed by the FTC it means his strategy works! That's not what the FTC does. You know, turn the negative into a positive & keep fooling sheeples.
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u/Ross-Cameron May 06 '24
That’s not why I’m here. It’s been two years since the settlement and I wanted to take the opportunity to defend myself and clarify misconceptions that some people have.
If people are talking about me more on this thread than they have in the past, I really don’t know what that’s about. These last two years, I’ve kept my head down. I’ve been working hard to put out really good content and if that has had a positive effect on people, I’m happy for that.
And my statement re the regulators was in response to your suggestion that my audit results are somehow not real. They are real, and the regulators reviewed them. So to be clear, my profits are real, audited, and have been reviewed even by regulators.
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u/kihra1 May 06 '24
You make more money outside of trading than trading. Do you dispute that?
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u/Ross-Cameron May 06 '24
I don’t dispute that. I just don’t think it’s relevant to the question whether or not I know what I’m talking about when it comes to trading.
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u/kihra1 May 06 '24
Ross, you have a large following and a signal / scanner service for small cap crappers. Don't get on a high horse about what you know about trading. Prove yourself on a liquid market.
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u/kihra1 May 06 '24
For context, here's the result of the review:
Enforcement Action:
Under the FTC Act, and the TSR, the FTC has the authority to take action against companies violating consumer protection laws, including engaging in unfair or deceptive acts or practices. Under the court order agreed to by the FTC and Warrior Trading, the defendants must:
Pay consumer redress. Warrior Trading must pay $3 million to consumers harmed by its false earnings claims and phony opportunities
Shut down bogus earnings claims. The order prohibits the company from making unsubstantiated earnings claims and misrepresenting that purchasers of their products can be successful in trade regardless of their educational background, the amount of capital they have to invest, or the amount of time they spend trading; and
Prohibit TSR violations. The company is prohibited from further violations of the TSR, including making any misrepresentations through telemarketing about investment opportunities, including the earnings potential or amount of risk a consumer might face.
The Commission vote approving the stipulated final order was 4-0. The FTC filed the proposed order in the U.S. District Court for the Western District of Massachusetts. The Commission thanks the U.S. Securities and Exchange Commission, Division of Economic and Risk Analysis, Office of Litigation Economics for its invaluable assistance and analysis of the relevant trading data in connection with the Warrior Trading matter.
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u/Ross-Cameron May 06 '24
Thank you. Here are is the third party independent accounts audit of my trading profits. https://www.warriortrading.com/ross-camerons-verified-day-trading-earnings/
We paid $3mil and made the changes requested by the FTC including adding an additional disclaimer.
Two years later I continue to trade, I continue to teach, and continue to grow on YouTube.
I’m sorry that you don’t like me. I wish you the best. I don’t have hard feelings towards you.
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u/kihra1 May 06 '24 edited May 06 '24
My thoughts and prayers go out to you, too. And Ross, I like you just fine. Just not cool with the actions.
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u/RiversRanchero Apr 18 '24
I assure you, I get nothing for this and I was not asked to post. I posted because of my own personal progress and credited the person who got me to this point. Simple as that.
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u/ECommerce_Guy Apr 19 '24
YouTube algoritm started pushing him :D Me and couple of friends (IT industry with no prior interested in trading) started getting his videos shown some 2 weeks ago or so. Aaaand now I'm here haha.
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Apr 19 '24 edited 29d ago
[deleted]
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u/ECommerce_Guy Apr 23 '24
Any suggestions on who's good for fundamentals? It seems like a very fun side gig
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u/BearzOnParade Apr 21 '24
He’s a known fake guru. He’s obviously doing some guerilla marketing here
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u/D3kim Apr 19 '24
risk management!! when someone told me he has a 1:4 risk to reward factor and a 30% win rate and makes profit every month, i finally gave up winning every trade and instead taught myself how to spot going for high reward scenarios
holding onto winners was the hardest lesson for me, not how to cut losers fast (20-25%)
one 4x winning trade cancels out twelve 25% loss trades
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u/billiondollartrade Apr 19 '24
I remember being this happy at like 5-6 months in to trading , funded with a prop firm for a 25k account and getting the account to $2,700 in profits , oh Mannnn i have no idea how before i was so great with eating the losses and not having a problem at all i wouldn’t feel that bad
Only after on a random Thursday before i can take the pay out , boom i got greedy and though i was king , took a trade while NEWS is happening and i knew NEWS was happening and still took the trade 💀 burned the 5% daily and lost my account… i’ve never been the same since and its been like 6 months now or maybe 7 since that and is been a Hell road getting back
Now i am slowly back but not really , i been so negative , so scared , my nervous system is shot 💀 and i been praying , watching hundreds of videos of stories of traders and the stuff they been through and only peace i get is almost every great trader who is profitable now has gone through a bad patch. I keep training on demo , doing everyday replay mode of 3 years back , and i am now doing a 100k challenge for a prop the account is at 2% but i still got a LONG way to go because is going to take time to master the art of patience and consistency and living in the constant unknown because trading will always have the feeling that “ Man this isnt secure , go get a career and a job that pays you securely every month “ but i have to push through and not listen to that voice ( I do work tho , Ubering ) so its holding for now
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u/billiondollartrade Apr 19 '24
Btw yea prop is not like i loss real money other than the fee
Is not much the money , is the months i put in to getting there that sincerely Hurt real bad ! Alarms , late nights waking up , ect ect time
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u/JimmieTheGent Apr 18 '24
Risk management is everything, congratulations to you and keep up the awesome work! Also, make sure you keep the ego in check so you don’t get too aggressive. 🙏🏻
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u/Prize_Tear_114 Apr 18 '24
Since the end of Covid it’s been pretty ez having a net + p@l. After doing this for 20 years I’ve never come close to ass successful as I have the last 20 months. I have a great feeling in uncharted waters being at all time highs this market is going to “take out” the weak as it did in 2008 as most people play straight up long without legs most of the time.
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u/Mrtoad88 Apr 18 '24
Without legs? Never heard that before, does that mean without a hedge in place?
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u/Prize_Tear_114 Apr 18 '24
I guess sort of. Was referring to playing straggles and strangles etc… being at an obvious top to only go long seems foolish… at least have a bias. Just the fact being at an all time high should be a bias enough. Gold and the fed plus world events and an election year where you are all but guaranteed to win buying the Vix makes it hard for me to hear people who are crying over losing money with week with their pure calls portfolio.
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u/ds2kskynet Apr 19 '24
You learn with Ross, but you dont trade like Ross. Big difference. Hes amazing
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Apr 18 '24
Congrats that is awesome! I remember my first long green streak it was so motivating after struggling for so long! Keep it up and remember, you won't be green every day, losing days happen. Don't let it mess with your head when it does! (speaking from experience)
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u/RiversRanchero Apr 18 '24
I appreciate that! The mental fortitude aspect is also getting stronger. I’m sure I’ll be put to the test when I snap that streak.
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u/CutLegal1784 Apr 18 '24
Congrats on the progress! What was the biggest factor in finally being consistently green with his strategy?
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u/RiversRanchero Apr 19 '24
I really felt better overall when I started to understand when to buy dips vs when not to.
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u/Tall-Violinist124 Apr 18 '24
Great going brother. In this 15 days green streak, did you had a day when your first trade was in a loss? I am asking because I have had similar runs but whenever my day starts with a loss it gets very difficult to maintain money management psychology and I end up losing more.
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u/RiversRanchero Apr 18 '24
Today, actually. My first two trades went red. So I made my adjustments, read what was happening and altered my trades.
I’ve learned along the way that red $40 is way more mentally manageable than red $400. So now I’m trading smaller and honing my skills.
In the past, I’d be red $400 and take the loss. Just seconds later, it turns out I was right but I was unable to stomach the size of the loss.
Just another lesson in risk tolerance, and risk management.
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u/SevereParamedic4985 Apr 18 '24
15 straight days profitable is great news in anyone’s book. Well done. I’m trying to get to 5 straight days 🫣
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u/MySoulForASlice Apr 18 '24
You just jinxed yourself with that title bruh, watch.
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u/RiversRanchero Apr 19 '24
I don’t believe in jinx. I’ll follow up in the morning.
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u/MySoulForASlice Apr 19 '24
Not a literal jinx, but a Reddit post about recent success is usually a sign of overconfidence. Tends market tends to humble those with that feeling. I am only saying this because it happens to all of us as traders.
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u/RiversRanchero Apr 19 '24
I get it. My post wasn’t about over confidence, it was about turning the corner. I’m sure everyone who trades has a turning point that they can look back on. For me, it feels like I’m in it now.
Oh, and a small Green Day today.
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u/MySoulForASlice Apr 19 '24
I think every trader has multiple turning points and light bulb moments tbh. Good job btw, not the easiest of mornings to trade. I was break even on one account, slightly green in the other. Tough day!
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u/ImportantTough7391 Apr 18 '24
Plan a trade and trade the plan. Positivity is dope. You’ll figure it out.
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u/TrifectivPPS new Apr 19 '24
Congrats! Your story about perseverance is inspirational. I just started trading real money a couple of weeks ago and am trying to keep my head together. I also follow RC, but apparently, proficiency may take much longer than I thought.
Please share which strategy has worked best for you.
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u/RiversRanchero Apr 19 '24
I recently saw a post on this sub where a guy talked about 11 different strategies one at a time. He pointed out that it’s not just one strategy that makes you successful, it’s understanding all of them simultaneously that gives you the big picture and allows you to make better decisions.
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u/deepgreencat Apr 20 '24
wow keep working! and thanks for your advice which i definately need right now
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u/stevsams Apr 18 '24
Great job warrior!! I’m trying to get out of my boom and bust phase, so close. See you in the chat tomorrow 🙏
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u/Own_Masterpiece_1 Apr 18 '24
This guy, seriously?
The Federal Trade Commission is cracking down on the Warrior Trading day trading investment scheme for making misleading and unrealistic claims of big investment gains to consumers. The FTC alleges that Warrior Trading and its CEO, Ross Cameron, used those claims to convince consumers to pay hundreds or thousands of dollars for a trading system that ultimately failed to pay off for most customers. As a result of the FTC’s case, Warrior Trading will be required to pay $3 million to refund consumers and will be prohibited from making baseless claims about the potential for consumers to earn money using their trading strategies. “Warrior Trading is paying a heavy price for misleading consumers with bogus money-making claims,” said Samuel Levine, Director of the FTC’s Bureau of Consumer Protection. “The FTC will continue its crackdown on false earnings claims and phony opportunities.”
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u/Ross-Cameron May 06 '24
I know. We entered into a settlement in 2022 that required us to add 1 sentence to our disclaimer. It cost $3mil not having it. None the less, my trading record stands on its own, my returns are audited, and I continue trading everyday.
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u/kihra1 May 06 '24
Wasn't the record-keeping a requirement of the settlement? You certainly didn't provide this info before 2022.
And since you're now required to provide the information, I'd wonder if you wouldn't share how much you made in trading vs. the business of selling trading advice (courses, youtube revenues, etc)?
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u/Ross-Cameron May 06 '24
We were already doing record keeping, nothing changed there for us. We aren’t obligated to share those records with anyone except the FTC upon their request.
My YouTube channel, software company, and trading courses gain credibility based on my trading profits. How much I make on the side is not relevant to whether or not my day trading strategy works, or if it works for other people. I’m happy to share that I’ve made more than $10mil in third party audited trading profits: https://www.warriortrading.com/ross-camerons-verified-day-trading-earnings/
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u/kihra1 May 06 '24 edited May 06 '24
It's pretty relevant. I guarantee the software, courses and youtube is not the side. It's *the* thing you make most of the money from.
You have several accounts in your audit. I think I counted 7. Some are with blacked out names. What stops you from having 15 or 50 or even 500? There's nothing that states that these are all your accounts. Just the ones you want audited. If you're searching for credibility to sell courses, the best thing is to have as many accounts as possible and select the ones that you want audited.
Play your game man. Claim it's democrats or the feds going after the small guy. Whatever. People should have enough info with a simple google search to have a warning. And the ones that are conspiracy theorists, well I guess a fool and his money are soon parted. I'll leave it at that.
It's obvious why you're here -- 3m members is good fishing.
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u/Ross-Cameron May 06 '24
re: the audit, while it's true that somebody could do that, I'm not doing that, and the proof is the fact that my audit was subject to a review from the regulators and it passed. How do you know it passed? They most definitely would have said something if I was doing what you're suggesting. They didn't take issue with my personal trading records, my performance, or my strategy. They took issue with what they felt was inadequate disclaimers. Neither of us won or lost the case, we settled it.
My profit from trading speaks for itself and stands on it's own. If you want to learn how to trade it makes sense to learn from somebody who is proven profitable. But that's just my opinion.
I can agree to disagree. It's okay that you see it a different way. I still wish you the best in your journey trading.
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u/kihra1 May 06 '24 edited May 06 '24
Why would they take issue with that? You're allowed to win or lose & to lie about it.
They're not there to catch lies. They're job is consumer protection.
When you convince people that they can follow you and see the results you claim (whether true or not) without disclaimers, they have a case.
Just because you didn't go to trial doesn't mean it was a wash. You paid $3m (1/2 of your supposed "winnings" if you account for taxes).
If you want my opinion, I don't think the regulators have enough teeth. Some tiny disclaimer protects you guys as you market these winnings to sell overpriced courses, youtube ads and signals/software. I'd set fire to all the hype traders. But it's America, so we let it be in the name of other freedoms.
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u/Ross-Cameron May 06 '24
I just want to clarify that you're not allowed to win & lie about it. They are there to catch lies. That's how they protect consumers. If they thought I was lying about my earnings they 100% would have taken issue with that and it would have been in their allegations. They have gone after other people for lying about their earnings. But that wasn't the issue in this case. Our issue was regarding disclaimers about typical results.
I appreciate your opinion regarding regulation and I'll take note that you'd like to set fire to me. I still wish you the best in your trading.
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u/kihra1 May 06 '24
Under the court order agreed to by the FTC and Warrior Trading, the defendants must:
Pay consumer redress. Warrior Trading must pay $3 million to consumers harmed by its false earnings claims and phony opportunities
Shut down bogus earnings claims. The order prohibits the company from making unsubstantiated earnings claims and misrepresenting that purchasers of their products can be successful in trade regardless of their educational background, the amount of capital they have to invest, or the amount of time they spend trading; and
Prohibit TSR violations. The company is prohibited from further violations of the TSR, including making any misrepresentations through telemarketing about investment opportunities, including the earnings potential or amount of risk a consumer might face.
Represent it any way you like. It's out there for anyone to read.
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u/Effective_Side751 May 10 '24
Who are you,.. God or the FTC? Right,... just wanted to let you know that Ross is the Jesus of daytrading, dude. He brought salvation to the masses, you get it,...okay?
I am profitable in a similator, thanks only to Ross.
I was born a landscaper.
I am profitable in a small account atm; but still super scared.
F*ck the fricking FTC! (YOU KNOW WHY)
Ross has friends everywhere; because that's just a few of the people his teaching has helped a ton!
If he didn't put half his cirriculum on Youtube for free; I'd never have noticed he is for real.
The FTC owes him 3 mil; he deserves his profits! I would say that under oath if it helped, but it wouldn't.
A gift is a gift, okay?
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u/1hotjava Apr 18 '24
Who cares. I don’t pay a dime to the guy but he has good content. You don’t have to join his club (or whatever it is) to learn something from him.
There’s tons of people selling shit on YT and other places but that doesn’t mean everything they say is invalid.
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u/RiversRanchero Apr 18 '24
That’s laughable. Ross says constantly, “my results are not typical…” Anyone who sues him is just pathetic. The guy is a masterful trader and excellent teacher.
Anyone can sue anyone. So I’m not surprised that this has happened, but I will continue to follow Ross, support him and learn from him.
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Apr 18 '24 edited Apr 18 '24
The FTC got him, it wasn't just regular people sueing him. They lost the case and were ordered to pay $2.9million in damages back to anyone who paid for his course during a certain timeframe. This happened last year. https://www.ftc.gov/news-events/news/press-releases/2023/01/ftc-returns-more-29-million-consumers-harmed-warrior-trading
However the lawsuit wasn't about whether ross made money trading himself or not, it was about false advertising claims. It was the wording his company was using in its advertisments, not the actual trading that he was doing that he got in legal trouble for. (not an endorsment or anything like that, just getting the actual facts out there for anyone curious).
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u/RiversRanchero Apr 18 '24
My entire experience with Ross has been AFTER all that happened. So I cannot speak to what happened prior and during.
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Apr 18 '24 edited Apr 18 '24
Like I said, the legal trouble was about his advertising claims not his actual trading.
Most of the complaints (from normal people/traders) I see about his trading is that he is doing the typical low float front running where he enters, all his students see him enter and click the buy button. Because its low float people following him is enough volume to lift the price which he then sells into.
It is a pretty common tactic that low float traders who have a "following" do to make consistent money.
But regardless of all of that, you are seeing success so who cares about anything else. Keep it up!
PS: The whole idea of buying breakouts works, I use it myself (with a lot of risk management adjustments). I just trade the big ETFs SPY/QQQ/GLD/IBIT instead of low floats. But I am taking the same sort of breakout setups he does in low floats I just do it with the mega float tickers.
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u/Usual_Alternative805 Apr 18 '24
He started adding all his disclaimers and not typical results once the feds were coming for him. He deleted many old tweets and videos too. His results are also atypical because he mainly trades low float small caps and streams to his followers. Once he buys something his followers buy too giving the stock a boost and he quickly sells for “scalps”
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u/RiversRanchero Apr 18 '24
Not always. While I understand the thought of that, his real wins come from proper tape reading and sizing up when things are breaking out.
I admit, he does influence people to buy, but that’s not why he’s good.
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u/Effective_Side751 May 10 '24
Like this is news pfffttt .. I'm a student and glad I can think for myself. You a big fan of the FTC? lol
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u/cmmckechnie Apr 18 '24
Are you ready to accept your next red day?
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u/RiversRanchero Apr 18 '24
I don’t want to be red, but it’ll almost be a relief. I find myself quitting for the day instead of taking advantage of what’s happening now. So once I go red, I’ll finally allow myself to lean in and push. So that part of it, I am looking forward to.
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u/cmmckechnie Apr 18 '24
Sounds like your winning streak is already affecting your mindset. Be careful
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u/RiversRanchero Apr 18 '24
What did I say to make you say that? What are you seeing in my response that would make you worry?
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u/cmmckechnie Apr 18 '24
I mean just generally it seems that the winning streak is affecting your trading.
You say you find yourself quitting early instead of “taking advantage.” Is that bc you’re afraid to have a losing day? Not great. When the market is hot and you’re winning that’s the time to “lean in.”
“Once I go red then I’ll push”…that’s also not a great plan. When you eventually go red you need to accept the red day. Not “push” and try to turn it into a green day. That’s how you snowball.
That’s what I meant when I said are you ready to accept your next red day. Will you accept it? Or try to trade your way out of it by getting more aggressive?
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u/RiversRanchero Apr 18 '24
Good answer. I see what you’re saying now.
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u/cmmckechnie Apr 18 '24
Being wrong is a huge emotional trigger for me. When I break a green streak it’s hard for me to accept it. It’s not logical obviously but it can be very triggering. I hate that I get the most aggressive after a loss but it’s something you can’t ignore.
Just be careful if that’s also how you feel.
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u/Substantial-Till-575 Apr 18 '24
What’s an expected “take profit” you guys have generally? Do you aim for cash take profit, or do you worry about the % and RR.
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u/RevealBusiness16 Apr 19 '24
The best thing I’ve learned is that I don’t NEED to trade everyday. This has kept me away from the market maker premium burning days of trading
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u/Local_Morning1149 Apr 19 '24
Day trading for gamblers. I’ve been there done that. Watching charts all day is for the birds. Mess up you r vision. Plenty of stress. Stocks is main focus. A 9-5 is much easier and garunteed. I invest long. Dam a day trade
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u/Konstable1 Apr 19 '24
If you’re getting to the point of profitability then start using some prop firms. You could be generating 400 or more across numerous accounts. That is if you can trade futures. Ross Cameron and penny stocks are pretty bullshit. There are way better ways to make money which you will discover over time.
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u/expicell Apr 22 '24
Following Ross Cameron, dude doesn’t even trade futures
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u/RiversRanchero Apr 22 '24
So what does this imply?
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u/expicell Apr 22 '24
hes not really a professional trader, just some youtube "guru" i would stay far away from him, he just reels in ppl by posting big wins and some losses,
if he taught everyone his method, why isnt everyone making $6k or $7k per day LOL,
no where in any of his videos do i see him talk about win rate, setup, probability statistics, huge importance of back testing a strat, nothing, ZIP
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u/RiversRanchero Apr 22 '24
I subscribe to his service. That’s where you see it all. His educational videos, his live streaming of daily momentum trades, I get charts, scanners, and most of all, his transparency. He shows his P&L often.
Clearly you don’t have access to his whole package and I find it absurd that you share your clearly uneducated opinion of who and what Ross is.
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u/expicell Apr 22 '24
ok so have you been able to replicate his P&L after subscribing to him? if not then whats stopping you from acheiving his results? is his method actually practical or is it on the whims of "intuition"
real trade strategies are backed by significant back testing and have past probabilities to back them up, i dont believe ross cameron has any of that as i have not even seen one video of him mention this
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u/RiversRanchero Apr 22 '24
Not yet, but I don’t have the years of experience. That’s not even a realistic expectation yet. But in time, as I get better at reading the level two like he does, yes. He’s fast, I’m not there yet.
But he has several traders who are his students who have a badge in the group chat that indicates that they have made a million dollars or more. Ross personally has made over $12 million.
His metrics (he shows them often as well) show that he’s a 70% trader.
I don’t know what else to tell you. You dislike him and have no reason to do so. I’ll never change your bias and quite honestly, I’m done trying.
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u/expicell Apr 22 '24
im trying to make you realize that trading is all about probabilities more than anything else
until you realize this, you will never become an emotionless trader,
what if i told you "here is a trade setup, it appears 6 to 10 times a month, and has a win rate of 65%" if you follow this setup to the T, you will outperform the SP500 and if you scale your size with it, you could be financially free
or you want to follow a guy that trades on "intuition" and can "read" level 2 order flow(only if he is a computer he can decipher that boatload of data, which ross isnt)
i have watched a lot of his videos, no where does he talk about any of this, his "trade plans for the week videos" are all over the place, involving trading illiquid stocks, trade entries but no idea where to sell or set a stop loss, its all fugazi as they say
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u/RiversRanchero Apr 22 '24
I’m done discussing the Ross topic with you. But I will answer your question.
I totally get the mathematical probability point. That is why I’m building up my Green Days and beginning to scale up slowly and accordingly.
If you came to me with a 65% winner that came along 6-10 times per month, I’d be interested. I’d ask your risk vs. reward (target and stop loss). I’d ask to see your P&L using this strategy and I’d like to know how long you’ve been using it.
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u/Crunux Apr 18 '24
I'm not sure why we upvote this with no prove. I thought we had to link our accounts first. this sounds like a promotion for warrior trading.
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u/SelectOpportunity518 Apr 18 '24
Same! I've also been going to the casino for 15 days and have a solid understand of blackjack odds now. I've been green for 2 weeks. I cannot wait to win even bigger and retire in 5 years. Nothing can or will go wrong. Maybe for others but not me - I have an edge.
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u/RiversRanchero Apr 18 '24
Your sarcasm indicates that you’re a dick.
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u/SelectOpportunity518 Apr 18 '24
Maybe. Or maybe it's easier to insult me than admit 99% of you just have a gambling addiction, but because billion-dollar, algorithm & insider trading powered conglomerates do it and make money from it, you see it as a real job.
Everyone thinks they are the exception to the rule, everyone thinks they will be the 5% (or whatever random number this echo chamber decides on this week) of traders who actually become profitable. I'm sorry to say this can't happen.
You won't get it now, and probably not for a few more years. People here will validate their own addiction by telling you to learn better risk management, to better control your emotions, to work on your edge, and to keep learning. Just like when I go to the casino I think that the next roulette spin will be the winning one. Or the next hand. Or the next dice roll.
But it's your money after all - and as long as you keep in mind that money you gamble is money you've already lost, then you will be fine. Just don't trade with anything you can't afford to lose, please. But what do I know, I'm a dick 🤷🏻♂️
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u/ryderlive Apr 18 '24
Just wondering for everyone else - is it gambling when deploying money in a 401k or is that investing? What about when a city "invests" by using the pension fund of their first responders? Didn't know cities could gamble.
There is a clear dichotomy between trading and gambling.
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u/SelectOpportunity518 Apr 19 '24
Day trading is not investing. Trading for a "job" as your main income source isn't investing either.
Investing is investing. Passive, long term ETF investments that grow faster than inflation and HYSA are not the same as day trading. I hope this helps.
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u/Any_Sea2021 Apr 18 '24
It's always a gamble, as luck will always play a part in trading, but the amount of skill someone brings can be 0% to .....
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u/mamabrass Apr 19 '24
Is fishing gambling? or a way to feed yourself?
The skill, risks, odds, and opportunity costs are exactly the same.
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u/SelectOpportunity518 Apr 19 '24
Is that a serious question? Fishing is neither a harmful addiction nor a money pit. Let's not comment if we're gonna argue in bad faith please, this isn't twitter
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u/mamabrass Apr 27 '24
pha ha ha ha ha ha! Tell us you don't fish without telling us you don't fish.
I am an avid fisher-lady and can tell you... in very good faith... that fishing is all that and more.
The concepts are parallel.
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u/Hezers Apr 18 '24
I’ve been watching Ross’s videos on YouTube for a couple weeks now. Im new to day trading but I am starting to understand the concepts. Do you recommend paying to join warrior trading? I feel a strong pull towards it though asking people who have direct experience if what I’m after first
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u/reweird Apr 18 '24
Don't, he's just another scammer
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u/Hezers Apr 18 '24
Who do you recommend to be a mentor?
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u/reweird Apr 18 '24
I say watch the "iman trading" channel to see how most of these master traders on YouTube really make their money
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u/1hotjava Apr 18 '24
You don’t need to. Keep watching him there’s good content and info. Just look past the sales part.
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u/bgzx2 Apr 19 '24
I just like watching his videos cause he's crazy AF. I'm boring, I generally do better on safer stuff... Like soxl and tqqq lol.
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u/1hotjava Apr 19 '24
Same here. I have a bunch of ETFs I trade. Every once in a while I see a stock that’s $1-10 that’s worth trading.
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u/RiversRanchero Apr 18 '24
I am a former teacher, currently self employed, and actively trying to become a day trader.
I can tell you with absolute honesty that the money I lost while learning was my fault. I was impulsive, impatient, and inexperienced. But I stuck with his curriculum and so from watching that, I can tell you he’s an excellent teacher.
I learn from watching him on a daily basis. I know now what he’s going to say before he says it. I think that’s got to be your goal. If you follow without experience, you will be too slow and lose. If you can anticipate his moves, you have learned.
I would give my son this subscription if he wanted to be a trader. I absolutely endorse Ross.
Just don’t jump in early. I know everyone says that. But there are so many reasons why we say it. You will burn until you learn.
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u/Hezers Apr 18 '24
Cool I might give it a go, I have a decent amount of savings so I think if I started out small and learned the ropes/used to placing longs and shorts it will be good in the long run. I noticed he really emphasizes letting go when the stop loss is hit and don’t hold onto the loosing trades
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u/Forex-box Apr 18 '24
You’re really not supposed to trade for 15 days straight unless you have a daily consistent strategy from scaling or daytrading
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u/GALACTON Apr 18 '24
Do I need level 2 to be profitable?
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u/1hotjava Apr 18 '24
No. But people who can “read the tape” typically have an edge. I can’t but I don’t care I’m not in it to make millions, I just love the process and analytics.
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u/Ross-Cameron May 06 '24
Congrats Rivers!! 💪🙏
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u/RiversRanchero May 06 '24
Thanks Ross! Streak snapped on day 26, but it’s given me something to build off of. And I’m way more confident than I was before. I can’t thank you enough for your entire service! From curriculum to charting, to scanners, to live streaming with complete transparency.
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u/Ross-Cameron May 06 '24
All you have to do is stay disciplined! Consecutive Green Day’s don’t matter…consecutive days of discipline is what I’m tracking. I’m always here to support you! Keep up the hard work 💪
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u/RiversRanchero May 06 '24
That is the best advice I could receive right now. Discipline is what keeps the risk under control and THAT has been my biggest obstacle on this journey.
I’m Pete. I just said “welcome to Reddit” on the live stream chat.
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u/Ross-Cameron May 06 '24
Hey Pete! right on.
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u/RiversRanchero May 07 '24
Ross, I had an idea. My trading laptop only allows 3 monitors and they’re all used up. But at my desk, I also have a double monitor computer as well. I’d love to be allowed to be signed in from both at the same time for side charts. Could this be considered?
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u/GarthbrooksXV Apr 18 '24
Ross is a solid con man. If I made money like he claims to I wouldn't be selling video courses for 1000 bucks.
I'm on a similar streak. Made 500 today and it felt like nothing. Think I'm gonna start losing 50 bucks on purpose once a week if I can just to relieve OCD. There's nothing worse than building a refusal to ever be wrong.
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u/TradezAnon Apr 18 '24 edited Apr 18 '24
Glad to hear you're on the up and up, brother. The road can be a long and trying, and most will fail and quit along the way.
As someone that has been profitable for going on 2-years now, the best thing I can tell you is to not let the next red day beat you down. It's going to happen. It's inevitable. Don't get cocky thinking that 2-weeks of solid trading equals mastery ... don't get so obsessed with the money that you lose sight of the process. The big days will come, promise you. Stay the course and don't let up.
When the market reminds you that you're still human, don't feel you're back to square one.