I know that Ross Cameron of Warrior Trading is running commercial business and many people don't trust him, others look at him with curiosity, while some follow and try to learn. I've been in all those camps and try not to have specific opinion without a proof one way or another, but couple years ago I've subscribed to his chatroom, later looked at his audited results, etc - and didn't see specific signs of wrongdoing, except being suspicious of some of his liquidity where he was able to buy or short most of the volume without moving the price (until the price moved later). I don't recommend buying anything from him, while he does post a lot of free YouTube videos showing how he trades. Anyway, he is now running a new small account challenge that may be worth following, supposedly starting with $395 earlier this week and already more than doubling his money to over $1000, while projecting to go up to $100K+ within a year. https://www.youtube.com/results?search_query=Warrior+Trading (his last video from today should be uploaded to YouTube later, I initially saw a Facebook post about his account already being $1000+)
Someone tell the guy to fund an account at $500K and we'll have a comp. Winner takes loser's account like a pink slip.
It depends: a) I subscribed to his chat room when he was still relatively unknown and didn't have as many followers (could be more than 2 years ago), and he seemed to actually have trading skills. I learned his approach, understood it, and believed it may be viable. b) The answer may actually be "no", because I follow several prop firms on Twitter that trade the exact same stocks. And I see plenty of Tweets about the same stocks outside of Ross Cameron's camp. There are only several penny stocks (or micro-caps under $5) that release meaningless press-releases each day, so everyone trades them. c) Many penny stocks are pumped and dumped through various marketing schemes, while many prop trading firms follow and trade around those moves, so finding or detecting pumps and dumps is a very viable trading strategy. Tim Sykes got rich off of shorting penny stocks that were heavily promoted but didn't have reasonable fundamentals. And really this is how many people make money - on high volatility, regardless of the reasons, or possibly because of understanding the reasons. Microcap stocks have small capacity, but some people did make their first $million on them. d) I also have mechanical/systematic strategies for trading these stocks and I'm actually streaming my own micro-cap trades to Twitter, and often these turn out to be the exact same stocks that Ross Cameron trades, as well as Seven Points Capital. Except I mainly go short and often in opposite direction to Ross. I just wait longer (often overnight) for all that trading to be done and the price to drop back where it's supposed to be. I couldn't replicate his long strategy, but at least I'm able to trade the same stocks regardless of who is pumping them, but they do get pumped multiple ways and Ross is not the only trader with thousands of followers.
I've been thinking of doing my own small account challenge. Fund a 'gambling account' and see how much I can grow it, and have low enough starting balance in it where I don't care if it goes to zero. Was thinking of trading big moving things in that account such as UGAZ/DGAZ, NUGT/DUST.
He'd lose when trading options, futures or anything high capcity, but he'd win on penny stocks up to their capacity. So it's really comparing apples to oranges, and I'm not sure who'd win. And I don't have access to him to make that proposal...
What do you guys guess Ross's annual gross income is from his trading edu biz before expenses of office overhead (remember, has a New Hampshire AND Cali office!) and employee salaries (about 30 now)? My guess is around 10-12 million gross and his split is 50%. Trading 5 NQ contracts can make as much as he does without all of the fuss he goes through just to find what to trade. And no special status, 60/40 tax split, one-liner on the tax form.
Dude, no. Ross makes 300K-400K per year from his penny stock trading on an account balance of around 90K. His trading is a side-hustle to his real job.