I never said that there isn't anyone that can do it, I always pointed out that the ones that reply to this thread can't.
I think the guy has spent years learning all the little nuances and tricks involved in trading those type stocks.And I'm sure those tricks are many! Someone is not going to learn them overnight.
Pay attention to his comments. There are wankers on this forum that have said that they make 1% a day.
Agreed. If you spent more than $30 on learning trading you spent to much. If you don't already have a good career going & a long term investing acct that grows over the years than forget trying to make up for it with day trading.
I think what people need to take into account when they talk about Ross Cameron is that he has a chatroom following his trades. He's always going to be the first one into the trade and then other people in the chatroom will follow the same trade. This gives his trade an advantage because there's always going to be a delay for the other people getting in. If you read through the entire FTC documents regarding their lawsuit, he spent tens of millions of dollars in advertising over a 3 year span but didn't make anywhere near that in profits over that same 3 year span. I've only watched a few of his free YouTube videos, but there were some past videos of his where he would mention when he was going to increase his size at a certain price target and if you slowed the videos down you would see he would sell at least half his size before then adding to the position. He later removed position size from his videos so it was harder to figure out what he was doing, and that was likely deceptive to his chatroom audience. I'll share my experience and even the strategy I used because it was profitable for about 1.5 years during COVID and can't be used anymore. I think I made around $5k-$10k per week if I remember correctly. But I only traded every other week because of my regular job (hospitalist). I traded solely with TD Ameritrade using the ThinkorSwim platform and only used market orders. I only traded stocks with a 1 cent spread priced greater than $1 dollar. I would pick the high volume small cap stocks that were running in pre-market to trade during regular market hours. I would read the order flow on level 2 and bought 4000 shares at a time and looked for an immediate pop of 1 cent or more. The vast majority of the time you couldn't get more than a 1-2 cent pop, but occasionally it would pop more. TD Ameritrade was very good at giving you the midway price on almost every trade (0.005 cent) which limited my risk big time. If there was no immediate pop, I exited the trade which a vast majority of the time was break even because of that 0.005 cent price improvement. For some reason there were some stocks with lots of volume that had very predictable and slow order flow that was very easy to read when price was getting ready to change direction and move up. There were other stocks that the order flow was so fast it was impossible to read and capitalize on the direction change. But something changed after I got a warning from TD that I was trading too much and that I would get banned if it continued. The price improvements decreased significantly, order flow speed increased significantly to where it became unreadable and I could no longer make money off that strategy. But it worked for quite a long time. I know someone else who capitalized off of a structural issue within Fidelity's trading system where they figured out on certain stocks they could buy on the bid and immediately sell on the ask if they were quick enough with entering the trade. They eventually got banned from that brokerage. What people should realize as well is that all trades are labeled long, sell or short sell per exchange rules so it's very easy for the market makers to keep track of the imbalance. I don't think any trades are actually hidden from the markets because I have kept track of my average price of a trade I layered into and realized that it was nearly impossible to get on the correct side of the trade from the beginning. Price always seemed to meet a barrier right at my average price and hang there for a while before breaking through. That let me know that someone is tracking the trades and knows my average cost. Is it HFTs that create these issues, I am not sure. But day trading, specifically scalping, has become more difficult over the past few years. Would I give up my day job to trade, not unless I made at least twice my salary for 3 years. The big boys in the trading game (as in firms) hire PhDs to look at the data for a reason, they are trying to literally squeeze every last penny out of the market that they can. And remember that there are some firms that have market maker access, not to be market makers, but to read order flow and capitalize off that info. They trade with FPGA cards that can trade in microseconds and have access to every single exchange and dark pool out there. So if they can buy 100 shares in a dark pool for a cost of 5 cents and sell them on ARCA for a 25 cent rebate, they will do that all day long. I think I also recall reading that retail trades are labeled differently than Algo trades because they are eligible for price improvement whereas an Algo trade is not. So in my eyes that makes retail trades easy picking for anyone with MM access to the exchanges to see those trades. It's very difficult to compete with that type of technology and how quickly they can move price against you.