The Broker I Use to Day Trade with a $500 Account - Small Acct Challenge Ep 3
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- Опубликовано: 6 июн 2024
- 2023 UPDATE / NAME OF THE BROKER IS: Capital Markets Elite Group (CMEG).
Their commissions are currently $2.95 per execution with max commission of $12.99 per trade. In order words, they are expensive. I would not trade with CMEG unless I already had a track record of profitability trading in a simulator. To get practice, consider a Free Commission trading broker like Think or Swim (TD/Schwab).
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Warrior Trading // Ross Cameron // Day Trade Warrior
2023 UPDATE / NAME OF THE BROKER IS: Capital Markets Elite Group (CMEG).
Their commissions are currently $2.95 per execution with max commission of $12.99 per trade. In order words, they are expensive. I would not trade with CMEG unless I already had a track record of profitability trading in a simulator. To get practice, consider a Free Commission trading broker like Think or Swim (TD/Schwab).
I love you! ❤️
Does Sterling recognize CMEG?
Ross, Been busy moving this past week and getting set up. It is always a great motivator to see your videos in my news feed. Your Steadily pushing me into something I know I should be doing.
Nice Lifemile, stay tuned for this challenge!
how's it going?
Warrior Pro student here, just started this last week, already on lesson 6 in your small cap day trading course...absolutely love the course and I just wanna thank you for these videos...missed you this morning in the chatroom. Unfortunately my schedule doesn't allow me to get into the live mentor classes, but anyways, thanks for always staying relatable!
Really great to hear that. Unfortunately I wasn't trading yesterday. Don't forget you can always see the recording of the mentor sessions in the education portal.
How’s the Warrior Pro course going?
So, how is it going a year later?
It’s fair to point out that the broker is not listed after clicking on the link in the description. It is only an invitation to register for a class. I was hoping it would not be an offshore broker, but it turned out to be CMEg as expected. I like Ross and his videos, but it is misleading to say that you will reveal the broker and then don’t. I had to find out who the broker was through the comments.
Hey Steve, The link brings you to the live webinar, which gives you a copy of the ebook for signing up. We're sorry you feel misled.
broker??
Clearly states CMEG on the link. Now, anyway.
@@DaytradeWarrior is it not misleading to say you’ll give the name and don’t ?
Thank you for saying CMEg i was looking for hours for that name
I love your video so much Ross very encouraging! I'm struggling at the moment with the PDT rule I think its time for me to move out from Robinhood after two months. I'll try the Bahamas one so I be free to trade. I really love trading waking up at 5am everyday and can't wait for the weekend to be over so I could trade.
These are two offshore brokers that people in our community or our educators have used that you can research.
For accounts under $25,000 (as little as $500), you can take a look at CME Group (US and all international residents except Canada).
CME Group review: www.warriortrading.com/capital-markets-elite-group-review/
CME Group Rebate Program: www.warriortrading.com/cmeg-broker-rebate-program/
CME Group website: cmelitegroup.com
For accounts under $25,000 Minimum deposit of $1000 available to anyone outside of the USA Even Canadians:
TradeZero review: www.warriortrading.com/trade-zero-broker-review-how-it-matches-up/
TradeZero WT rebate program: www.warriortrading.com/tradezero-broker-rebate-program/
TradeZero website: tradezero.co/
Thank you Ross!
I really appreciate the sharing of your journey. It is inspiring!
Yeah, you're welcome Jim!
in my 1 week of learning day trading this man has taught me more than i ever was taught in school
🤓👍
My side hustle was Fiverr then Upwork around 5 years ago. Then they became my full time income. Watching your videos have been very inspiring! I invested in a number of stocks using my retirement funds and yesterday I did my first day trade. I will be watching the small account video series you posted as I want to start small first then build up from there. My fiance and I have been watching your live videos each morning since last week, we are hooked! Thanks for providing all this useful information! Warrior Pro is on my watchlist, so when my account has reached a certain amount I will be investing in that education for sure!
Awesome!
Thanks I needed to hear this I'm cutting back and learning~
You're welcome Keenan!
Your great video makes me cry. You symbolize of humbleness is more sustainable than any greed
Appreciate the kind words wes.
Southern California
Love the videos! Thank you Ross! I will be starting the small account challenge with you!
Appreciate that Israel! Let's do it!
New trader here”4months” I’ve made some money but now I’m starting to give some back. Gonna watch your entire small account vids 😁👍🏼
Great video! I lived for years in a converted school bus to save the money for trading and do different online side hustles like web design & social media management!
That’s awesome!! I’ve spent alot of time looking a busses. Being 6’2” is my disadvantage there! I’ve seen a few that add a small gas or wood stove!
Let me just say that I have learned quite a bit from you! I have been stuck trading in my Firstrade account bound by the PDT rule making it nearly impossible to gain any momentum. I turned $250 into $1800 in 6 months. It should be a lot higher..and what sucks the most about the PDT rule is that if you have a bad trade, not only are you down a trade for the week but you have to wait for the funds to settle...this prevents you from being able to re-enter on a stock to recoup losses, let alone not being able to trade period since the funds are locked up...and just the wait alone causes soo many lost opportunities..its brutal! Not to mention, like you said, who just has 25k laying around? Anywho, Thank you! Thank you! Thank you! I am beyond grateful for all of the time you take to provide so much free knowledge! Its absolutely priceless! I mean cmon...6 X the buying power! Wowzers! Im just waiting for my deposit to clear so I can get started! Seriously, THANK YOU!
You're so welcome Steve, that's why I make these videos! Stay tuned for the small account challenge!
Watching your videos all the time is building my confidence to become committed and learn how to day trade the proper way. Good luck on the challenge next month I will be watching!!!!!!!!
thanks Aj appreciate it! Keep up the good work!
Hey Ross, just watching this in November 2020. Love you content! I don't see the link in the description for your current Broker choice, who do you recommend?
CMEG
Shout out from NZ(New Zealand) learning to be a day trader. Watching your vids to get me on the first steps.
Awesome! To get started with Warrior Trading join us in our next webinar! It's free to join and sign up and you will receive a copy of my best-selling eBook "How To Day Trade" just for attending! Sign up here: webinar.warriortrading.com/signup
Hi Ross,
Thanks for your videos.
I trade from Paris, France.
Even if I only trade futures on US indices, I always have fun following your videos and I appreciate how fair you are in your comments :)
Take care
Awesome, thanks for the support Nicolas!
Hey Ross! I'm an italian day trader trading from Bangkok, Thailand.
I don't trade stocks, i trade the DAX german index. I find your videos entertaining and that's why i watch you even if i don't follow your trading style. Keep up the good work and good luck for your new challenge, i will be following you!
Nothing wrong with that, glad you enjoy the videos!
These are my favourite videos that you do. Understanding you need to reduce costs to potentially increase revenue. It amazes me how many people have never even thought about this? They want more money whilst spending beyond their means???
It's easy to overlook Craig, and it's easy to get caught up in spending money left and right. All we can do is try to stay humble and do the simple things.
I switched my heating to use smart plugs and use Nodered to control when they come online automatically or if manually turned on turn off after an hour. looking to add temp sensors in all rooms to automate it more
Nice, great way to save!
Good evening Ross, My name is John Shea I am from Billings Montana just loved your video. I am one of your warrior pro students in the Large Caps. This is my first month live and my first trade was stop out for $8.59 so happy my first trade was green I followed my pivots and strategy. I hope to do this full time some day.
Nice John, keep it up!
I am grateful for your lessons, I used to use another famous trainer for day trading but his demeanor and love of riches didn’t match my personality. You seem more real and I cant wait to earn enough to take your course.
Thanks Timothy, happy to help! Look forward to having you on board!
You are such an inspiration! Thank you Ross!
Glad I was able to share the video, thanks for watching!
Yo Ross, I am currently with cmeg and the margin restriction list they have had for last 3 days is ridiculous. Just a heads up since you are recommending them for small accns. I can’t use margin on any s&p 500 and they have over 6,000 companies restricted for margin. Some penny stocks that are running I can’t even use my own full cash amount. They have it restricted to 125% lol. I’ll be closing this accn tomorrow cuz no point if I can’t use margin.
👍🤓
Hey! Great video! Any recommendations for a broker to be used from Belgium? Keep it up!
Hey Livio, These are two offshore brokers that people in our community or our educators have used that you can research.
For accounts under $25,000 (as little as $500), you can take a look at CME Group (US and all international residents except Canada).
CME Group review: www.warriortrading.com/capital-markets-elite-group-review/
CME Group Rebate Program: www.warriortrading.com/cmeg-broker-rebate-program/
CME Group website: cmelitegroup.com
For accounts under $25,000 Minimum deposit of $1000 available to anyone outside of the USA Even Canadians:
TradeZero review: www.warriortrading.com/trade-zero-broker-review-how-it-matches-up/
TradeZero WT rebate program: www.warriortrading.com/tradezero-broker-rebate-program/
TradeZero website: tradezero.co/
Omg, I watched Episode 2 and was trying to listen and do dishes - while computer was in kitchen. I could not! I loved watching your Uber video. I love watching you and I cannot get my housework done because I learn so much from you and you are so fun to watch! Thank you for these helpful, oh so helpful videos!
haha thanks for commenting! Keep watching!
I love your videos!!! I love learning and thank you for sharing your knowledge..
Thanks for watching!
Appreciate the videos. I keep sharing with everyone that wants to start trading. I've been trading 22yrs now and just easier to send off your videos then teach the basics to them myself
Thank you! 22years wow! You've had a career! Do you average roughly the same income each year?
@@DaytradeWarrior It is consistent. Consistently changing :) I will say that a couple handfuls of decisions over the years have made the biggest difference overall. Qcom back in the late 90s was the 1st best decision and Amzn best current hold.
@@bullonwallst That's funny you say that about Amazon, LOL! I was at a convenient store telling the kid working there to get $350 together and buy 10 shares of it, 'even ask your parents to loan it to ya' I think it was the fall of 2008. He probably never did, nor did I then either(my dough was already tied up in a bunch of stuff) although I have some exposure to it thru a IRA. I missed a rare trading opportunity of a lifetime but back then the sky was literally falling to anyone that was closely watching the markets.
@@dontswin I have had many people come back over the years either friend, acquaintance, or sometimes only met once that would stop me at the grocery store or at a bike night which happened this past summer and tell me how they made it happen because of my over bearing way of stating they neef to invest into something even if it's just yourself and not the wild world of the markets. It happened to me as well. I remember back in February 2007 when a old man stopped into the specialty grocery store as my girlfriend at the time is helping him with a beverage selection. He picks up this bottle and says this Jones Soda is going to be hot. So she calls immediately and tells me this. I end up taking a position on a Thursday I believe it was and Friday it went crazy and continued for a bit. I don't even know if Jones Soda still exists as I'm writing this today, but I'll never forget that winning advice and that was one of the first and last times I took a position from information like that, but as you said you could almost thow money at the wall and it would stick.
@@bullonwallst I think REED bought out Jones. Yea I just looked it up it was 2010. Reeds valued Jones at around 37 cents which was less than 1/2 what it was trading the day before! I traded in and out of REED a few times, lately the stock is similar to what goes in a dumpster. Back in Aug. it was low $3's now 68 cents! The volume of REED shares is tiny compared to a few years back, I wouldn't touch that one now! So glad I didn't sit on that REED forever, small world sometimes. Good story, thx.
Hey Ross! I’m watching your videos from Stockholm, Sweden 😊 I actually quit my job to be a trader before even placing my 1st trade because I had enough of my job and thought trading fits my personality perfectly . I gave myself 6 months to learn and become profitable. It’s been 2 months now, I don’t regret my decision, still learning and making mistakes but getting closer to my goal everyday. Sorry for the long post but I wanted to share my experience. Very excited for the small account challenge 🙌
Wow that is awesome, keep at it!
I hope you are happy with it now. I'm thinking of the same thing. I'm sick of the IT industry and low salaries in Europe.
i really appreciate your detail and concise descriptions! flash back pics are fun to see ( kitchen, VT house, mowing lawns!!) aloha
Glad you enjoyed it!
Hey I've followed you for a long time and I still haven't started but I will soon. I just wanted to say thank you for everything you do. You genuinely try to help people and I think you enjoy teaching and that separates you far from the competition (there really ain't much) lol but thanks Ross from Odessa Texas! Oh and I live in a family full of girls so my side hustle is helping them with everything imaginable smh lol I'm screwed 😂
Hey KCKC, right on from Texas! That's where the Bennets lived (from the TV show Hero's) Keep working hard!!
I just started watching your they are entertaining and very informative! I'm from Canada and when I went to your link it said CMEG has not service for Canadians. what broker do you recommend for Canadians?
TradeZero, TD Direct and Questrade are popular with Canadians in our community- you can check them out! If you haven't had a chance to attend yet, the best way for you to learn more would be to join us in the next live Warrior Trading webinar. The webinar is free to join, and you will receive a copy of Ross' best selling ebook "How To Day Trade" just for sticking around until the Q&A! You can learn more and register here, if you're interested: www.warriortrading.com/free-day-trading-class/
@@DaytradeWarrior I was going to. But it but it's a little rich for my blood right now.
What program do you recommend I use to paper trade with until I learn markets and software? Any of them real time that move with markets that use stops and real time replication on getting in/out of a trade?
Have you checked out our simulator? You can learn more here: www.warriortrading.com/paper-trading/
TD Ameritrade has thinkorswim charting software that you can paper trade with for free. No need to spend money to paper trade.
Hi Ross,
Thanks for sharing your knowledge! Should I start CMG account as standard or active trader?
I used active trader as I trade intra-day.
Warrior Trading Hey I saw there is a $25 fee per broker assisted trade, what is a broker assisted trade?
Hi Ross, hello from Singapore. I'm a part-time trader / investor. I watched some of your videos and find them quite interesting. Especially your $500 account challenge. So I decided to follow through this channel. Now on episode 3, look forward to see the end of the challenge.
hey Joseph, Welcome to the channel!
Great video. Some of the side hustles that I employ are painting interior/exterior houses, working part time at Walmart and residential cleanup of brush/debris. Will consider Uber in the future.
Nice, keep it up James!
BEEN WATCHING VIDEOS FOR ABOUT 40 HOURS AND READING FOR 16, THE FRUSTRATION IS REAL
There is a lot to learn! To get started with Warrior Trading join us in our next webinar! It's free to join and sign up and you will receive a copy of my best-selling eBook "How To Day Trade" just for attending! Sign up here: webinar.warriortrading.com/signup
Love the vids Ross! True inspiration! Coming from the land down under! Putting the knowledge I've learnt to paper trading.. My little side hustle is professional Indoor Skydiving coaching :)
That's some adventurous side hustle!
I have done quite a bit to save money. Time truly is needed to get a feel for the stock market... there are many things to observe and learn. Starting small, base hits, patience and commitment are needed. I truly enjoy waking up early and watching for a good stock to trade.... it is great job! Everything you said is great advice, and I hope everyone that is serious about succeeding will make wise choices. There is definitely less risk when a proven strategy is being utilized. Thank you Ross for all of your support and dedication to helping all of us, you are very much appreciated!
Will you be doing the watchlist on RUclips this coming Monday?
Stick with it Jeremy, you got it!
My boy made 450k from 5k by taking his course. Like wtffff. Might just pull the trigger and buy the course.
That's amazing Nick, thanks for sharing! www.warriortrading.com/trading-courses/
Question: With the PDT Limit enforced with brokers like ETrade, etc. can you open more than one account with them to multiply what you can day trade?
Ken, yes that's one way to do it.
Great info thank you. My question is: Would you recommend against using a Chromebook for starting. I would like to get comfortable using the broker sims and I'm not yet committed to the idea of day trading until I learn more. I want to limit my investment until I'm a bit more confident.
I am not sure if all trading apps work properly on a chromebook as they are designed to run on windows. You can learn more about choosing the right computers and setting up
your workstation in these 3 helpful blog posts:
1. www.warriortrading.com/day-trading-computer/
2. www.warriortrading.com/3-tips-for-buying-your-first-trading-computer/
3. www.warriortrading.com/multi-monitor-day-trading-work-station/
I've been using a Chromebook for a couple weeks now. I'm not successful, but it's my fault and not my device
Hey Ross...I am so glad u are doing this challenge as it is really gonna motivate me to take my trading to the next level here in the UK. See you in the chatroom
That's the hope! See you in chat!
Hey Ross! This is my favorite relatable video so far. I've seen your live day trading but do you ever take any swing trades?
Glad to hear it! I don't take any swing trades, though, we recently made a great article that goes into detail about how we swing trade, and include links to a watch list that gets updated on a regular basis. Click here to check it out: www.warriortrading.com/swing-trading-strategies/
Let us know if you have any further questions on this topic and we would be happy to help!
I cut my subscription services, cut cable, and reduced how often I eat out for a while. I will be trading from Crestview, Fl!
That's a very good way to save money!
I cut my own hands so I can stop shopping online.
Me and my wife team drive a simi truck so I have been learning and trading on the fly i started a year a go blow up one account working on the second doing much better this time with your help thank you so much for your time and patience to teach people like me
Ross, I just stumbled on your channel and have been consuming your videos like a kid in a candy store! I love them! My ultimate goal is to make just enough to fund a motorcycle journey across the world. I have already begun paring down my living expenses and am now ready to start this new journey in trading. Thank you for your videos and inspiration!
That’s awesome!!! I love the south of that! Did you see that documentary with Ewan McGregor, I think it’s called “the long way around”
Great video! Ross, you did a great job putting this video together, brilliant as always. I can totally relate to your story, I quit my job because I hated it, it was a six figure job, but I prefer to make half and be happy than to make more and be miserable. Since I quit my job I have been doing day trading full time (for almost a year, but only 6 months with real money), and I am finally turning the corner. In order to cut costs, I moved in with my girlfriend to share living expenses, and since I spend all my time at home, I don't need a car, so I returned the lease that I had plus I don't have to pay for car insurance anymore. Also, I withdrew money from my credit card 0% APR for 24 months, plus I have a very tight budget for my living expenses. I am willing to do whatever it takes to live my life on my own terms and to never work for anybody ever again!
Hey Cesar! T hanks as always for the comments! 0% for 24mo is a pretty good deal, I haven't heard about that before. I'm so glad you are turning the corner! It's all about being disciplined!
You are very welcome Ross, all your videos are always great and very useful. Yes, that was a great offer from Citi and I also got another one from Chase 0% APR for 18 months, they have been very useful to help me pay my bills during my learning curve. Thanks! Definitely, discipline is key, I have been following my rules and I am finally starting to see good results, I am getting there!
Hopefully one day I'll be trading on those portables and traveling around!
Righ on! You can do it!
I've been watching yours videos even the ones that u posted long time ago either while your driving or in the office , they r really encouraging and helpful I really appreciate your free content .
I'm in the USA as you know restricted by PDT, ...what broker would recommend that offers leverage and DONT have the PDT ?
If you haven't had a chance to attend yet, the best way for you to learn more about Ross' favorite offshore brokers that don't follow the PDT rule would be to join us in the next live Warrior Trading webinar. The webinar is free to join, and you will receive a copy of Ross' best selling ebook "How To Day Trade" just for sticking around until the Q&A! You can learn more and register here, if you're interested: www.warriortrading.com/free-day-trading-class/
This is my second go with WTPro. My first time was in 2017. I was working 70 hours 6 days from midnight til done and most days was not home til around noon since I had a 30-45 minute commute daily. I might have done better even though I was only able to trade on Thursday. I switched jobs and now only work around 40 hours a week with a 5 minute commute. I cut my paid down about 30% but now have more time to study and trade. Even though I’m in my 4th year I think of my time as my first year of learning. Thanks Ross.
You can do it this time!
Hey Ross, would you mind making a video explaining how to do limit orders and such on CMEG
Yes I can definitely do that!’
How exciting Ross! I love your content! Thanks bro!
Thanks Manuel!
Hi Ross, I'm a Brazilian guy who looks up to you! Thanks for this series! I want to do the same as you! Thank you for everything!
Appreciate the support Rafael, thanks for sharing!
great video Ross. Thanks for sharing your experiences. Greetings from Brazil!
Thanks Fernando!!
500 is really tied to start , I know you did it already but the cushion for losses / commission fees etc is really low with only $500 . Good luck
Yep it's going to be a slow first few weeks!
It's not going to be easy that's for sure GA
@@DaytradeWarrior Wicked hard. I started with $540 and lost about $170 after a month, then my $170 platform fee/market data hit. Down to $100, lol.
Very interesting always wanted to do this even watch day traiding videos when I was deployed years ago. They just never explain what to look for. Still lost to this day. I have 1000 to start with that's not the issue i just dont know where to start.
Hey Matthew, it can be hard to find good education that's for sure! The best way for you to learn more about trading and how you can get started would be to join us in the next live Warrior Trading webinar. It's free to sign up and you will receive a copy of my best selling ebook "How To Day Trade" just for attending!
Sign up here: webinar.warriortrading.com/signup
Hello 😊 I love your videos and the way you explain yourself ! I clicked on the link to find out what broker you recommend for the $500 Challenge but I had to give my email ? Anyways thank you so much for your videos 😊
Thanks for watching Cindy! Ross was using Capital Markets Elite Group, or CMEG, as his brokerage for his Small Account Challenge in December 2019. CMEG is an option for day trading small accounts because they are located offshore and not bound by the PDT rule, so they allow day traders to start with as little as $500. You can see our review here: www.warriortrading.com/capital-markets-elite-group-review/
In January 2020, Ross was day trading a $500 cash account at TD Ameritrade. Because it is a US brokerage and a cash account, there was a settlement period of 3 days so he did not trade it every day. Here's a little bit of insight into the difference between a margin and cash account: www.warriortrading.com/margin-account-vs-cash-account/
If you're also considering day trading the US markets with less than $25k, you'll want to make sure that you're aware of the different choices available. I highly recommend this article here: www.warriortrading.com/how-to-day-trade-without-25k/
Keep in mind that, because they allow leverage on small accounts, trading a small margin account can be particularly risky for beginner traders. Ross always stresses the importance of gaining a proper education and practicing in a trading simulator BEFORE going live with an account.
Feel free to read some more about our favorite brokerages and how to choose one here: support.warriortrading.com/en/support/solutions/articles/19000045045-broker-recommendations
and some of Ross' favorite strategies here: www.warriortrading.com/momentum-day-trading-strategy/
Thanks for the video. Whats the best laptop for a newbie day trader? Specifications?
Hey Favor! I think a simple Lenovo is a great machine. I realy like them!
firstly, thank you for being you and doing this! you're a sharp dude and your work is appreciated. i cut my water bill down 30% by turning my shower water off while i lather and also when I brush my teeth. yeahhh buuddyyy!
You're welcome! And that's a way to save money and the environment!
As requested I'm trading from a 44' sailboat in southern Florida. I doubt you can cut costs this low. I still want to make $100k in 45 days so I can go cruise as long as possible.
🤓👍
Awesome man this is my goal.
What sailboat are you cruising on?
Your living the dream
Hi Ross. I´m from the UK, but living in Norway. One question I have is regarding the scanner that you will be using during the $500 challenge, and whether you will continue to use the paid service?
Awesome, thanks for tuning in. I am going to be using CME Group! You can learn more here: www.warriortrading.com/capital-markets-elite-group-review/
The stock market on our country; Philippines is currently bearish and we don't have short selling yet so I'm planning to day trade the US market. Your videos help a lot. thank you!!
You're welcome JC! If you haven't had a chance to attend yet, the best way for you to learn more about trading and how you can get started would be to join us in the next live Warrior Trading webinar. The webinar is free to join, and you will receive a copy of Ross' best selling ebook "How To Day Trade" just for sticking around until the Q&A! You can learn more and register here, if you're interested: www.warriortrading.com/free-day-trading-class/
Cape Town here, thanks Ross
You're welcome Omar!
I just go by the rule of Arkaad, from The Richest Man in Babylon: pat yourself 10% first, to save for your future! I have over 20k within 3 years!
Awesome Soul, that's great!
Excellent book, i also like the part about find others who are making money in what you want to do and learn from then.
I pay myself 85% of my income from my day job. Only living on the remaining 15% plus income from side hustles. My goal this year is to increase my income from side hustle to match my day job so I can have enough to buy Ross's course.
Trading from Arkansas, some brokers give special deals for veterans and/or first responders. Thank you for what you do, I have learned a lot from the videos. I have been day trading for a yr and after many red and costly days I have slowly learned my niche and am working my way back to the green. There's always something new you can learn to improve your trading and that's what has and continues to help me today. Thanks again, you're doing a great service!!!
It's my pleasure Michael!
Hey Ross just started watching and I’m wondering what accounts you would recommend for a Canadian that is looking to start. Thanks
You can learn more about brokerage options for Canadians here: support.warriortrading.com/support/solutions/articles/19000127818-brokerage-options-for-canadians
Yess I’m watching , thank you for the motivation and showing us that we can trade to.
RIght on man!!
I'm from Nairobi, Kenya. My side hustle is doing people's assignments for $20 a paper
That's one way to do it Eugene, keep it up!
That's decent cash there dude. Keep hustling get your money up
Do you run
Hello Ross, your videos are always great.. I am newbie here. I was wondering about the logic behind making this PDT rule. Was this rule made to slow down the traffic in this profession (less traders if they have less money in their account)or there brokers needed Day traders cash sitting in their account so that they can make more money (on profits by giving that money to margin account holders)... Just my thought. Kindly share if there is something more to that..
Lol sweet I did a lot of research into them they seem pretty good, finishing my account info tonight, I don't trade small cap yet but good luck Ross!!
Just open a cash account with a real broker. The PDT rule only applies to MARGIN accounts.
Nice, let's do this!
This rule cost me hundreds and held my account hostage
It's a tough one that's for sure!
@@DaytradeWarrior I m trying for DEMO account in CMEG....Which Account type to choose from Active and Standard Accounts? and what is the difference between them??
Please wear gloves when handling insulation lol
Also side hustles include SkipTheDishes food delivery, doing surveys, and e-commerce
Lol please wear gloves I was thinking the exact same thing 😂🤣😂
lol
Yes I know the insulation is itchy!
Surveys actually pay?
@@stephenappiah8226 if you want capital , work a normal job for bills etc then go collect scrap metal after work save EVERYTHING from scrap for the trading account . Eat potatoes eat tuna HUSTLE ! if you want it , its not that hard . Look forward /get pumped to collect scrap .
I know I am coming to this video series a bit late but I am finding it super interesting so far and really enjoying the mention of cutting the cost of living, as I have been putting this into action myself. I work a night shift and have decided to try and cut down my work week a little and find more 'fulfilling' hobbies, that also cost less than my previous ones and or can make me some money on the side. I like to think of 'cutting the cost of living' as really 'giving myself a pay rise', I started off small with the budgeting and now I'm honestly amazed how far I can get my money to stretch. I used to spend more than I earned, now I have 3 savings accounts fed by standing order and still find myself with excess each month. I don't feel hard done by I feel more free.
Wow it's great to hear that! Keep it up!
Ross you are not only a great daytrader but you are also a great film maker. Thanks for every video!
thank you!
im gonna start over with you Ross. $500 also
let's get it
i'll deposit my $500 next week.
Right on man!! We'll do it together!
better to trade with a prop account, learn to trade with someone else's money, otherwise you will be depositing a lot more than $500
Tony, keep us updated on how it’s going bro!
you better put in 1k at least to make it worth it. your bank will charge $35 and cmeg will charge $45 for the wire deposit. cmeg will deactivate your account if it falls below $350. they charge $4-$9 per trade plus $125+ in monthly fees. unless you are a seasoned trader like ross, you can count on losing money right off the bat. I blew up two 5k accounts within a couple months in cmeg like an idoit. it is VERY easy to lose money in this penny stock world. good luck, best bet is to use the sim and pretend its real money, not take ridiculous size to make big money off a few cent move.
Ben jones i graduated from the warrior pro trading course. this is not going to be my first account. i know how to trade... thanks to Ross👍
I babysit bald eagles in the zoo for side hustle.
That's pretty sweet!
Roy Braker how much does a job like that pay if you don’t mind me asking?
Wow, thank you, cool monitors. As a minimalist, I was looking for a collapsible, portable, compact laptop desk, but then there wouldn't be room for two later-to-buy side monitors like yours because I was thinking they would need support from underneath, but now I see yours are attached to side of your main laptop with no table contact - they're in the air, fantastic. Now I'me going to get a compact table.🥇 By the way, are the side monitors secure enough not to get detached and fall if they stick out of the table?
Awesome! Definitely go for these monitors, they're tiny!
I use Ten One Design monitor mounts.
Loved the videos Ross!
Love to hear it Simms!
I'm just starting to get through your material video by video. I've watched about 5 videos now and I'm still a bit confused on the what... You speak of sharing info, but it seems your site is paid only content for members. You specify CMEG currently, but don't explain why other than PDT. PDT only applies on margin accounts, are you saying you can't do this challenge without a margin account, or maybe I need a better explanation of PDT restrictions on cash only accounts. I'm looking forward to learning more about stock screening and the tools you use for your watch list creation as well. If you can help me by either answering or simply saying --- "keep watching and you're answers will come".
a cash account is limited by how much cash you have - you still have to wait for your cash to settle before using that cash again. margin means you can sell a stock, then use those funds instantly. to grow a small account fast you need to be able to use all or most of your account balance every day
Side hustles: Uber Eats delivery, washing cars, drywall repair.
All great ways to setup some side income!
Beffbefwbfbefew fbw
Hey Ross, so I’ll be joining the warrior course as soon as I finish my final exams next week but I just want to find out if starting with $1000 would be an alright amount or if I should consider finding ways of making more capital to start?
That's awesome to hear, as for your question, we actually get this question a lot, so we wrote a blog post to help explain in a little more detail. You can read it here: www.warriortrading.com/day-trading-for-a-living/
Thank you very much
Awesome stuff Ross! Great to see younger people get into trading and learning an valuable skill set.
I trade out of Hawaii, but travel globally for my profession and like to take some trades while traveling.
Trading from Hawaii!! Market opens at 3:30am right?
Warrior Trading 3:30AM except for daylight savings time (we don’t observe it) so it’s 4:30 AM in the winter. It’s brutal, but I own and manage a law firm so it lets me trade prior to starting my real day! #hustle.
Hell yeah I would take a pay cut to live on my own terms!!!!
I don't think you're alone with that thought.
there is a saying that if your mindset is to work for money, you'll never get rich.
@@th3orist the mindset is not about money, its about living in your own terms. I would rather make less money but do what I want!
I turn 18 in 2 months while finishing high school and I was not sure what career I wanted...I have been watching your videos for about 2 years now and I want to give it a shot
Awesome Patriot, Thanks for getting in touch!
Warrior Trading cannot provide support or services for people under the age of 18. As such, we won't be able to help you with your query.
It is important to note, if you're under the age of 18, you won't be able to legally trade. However, you could still open what's called a custodial account with the help of a parent or guardian. You can ask a parent or guardian to read more on custodial accounts here: www.warriortrading.com/5-things-to-know-about-custodial-account/
I hope this is helpful. Please feel free to email us back once you are eighteen and we would be happy to help you further.
Very good and useful thx. I am beginning to like you! ;) Also, I went to the asus site. Need to know what model ur monitors are and perhaps why. Thx in advance.
These are MB169+ 1080 monitors
@@DaytradeWarrior thx so much man!
Thanks for the information. So which one do you recommend in case you can open an 25 K account and a Non-US-Resident?
Hey, These are two offshore brokers that people in our community or our educators have used that you can research.
For accounts under $25,000 (as little as $500), you can take a look at CME Group (US and all international residents except Canada).
CME Group review: www.warriortrading.com/capital-markets-elite-group-review/
CME Group Rebate Program: www.warriortrading.com/cmeg-broker-rebate-program/
CME Group website: cmelitegroup.com
For accounts under $25,000 Minimum deposit of $1000 available to anyone outside of the USA Even Canadians:
TradeZero review: www.warriortrading.com/trade-zero-broker-review-how-it-matches-up/
TradeZero WT rebate program: www.warriortrading.com/tradezero-broker-rebate-program/
TradeZero website: tradezero.co/
@@DaytradeWarrior Hi Ross, here´s my case: As a non-US I have opened an account at Tradestation and funded it with over $ 25 K. Still I have been put under the PDT-Rule which I don´t understand. Alternatively I can go to offshore brokers like CMEG or Tradezero who are charging a lot higher commisions. The US-Brokers are overal the better Brokers in sense of Platform, Charts etc.
in my opinion.
As I am planning to daytrade what would you recommend? BTW Interactive Brokers charge US-Stocks with a minimum of $ 1,- which ads up to. Appreciate your Videos
wait, so is the PDTless broker that CMEG one?... or someone else?
Yes, it's CME Group, you can learn more here: www.warriortrading.com/capital-markets-elite-group-review/
Hahaha your suggested comment at the end of the video
lol glad you found it funny!
I am getting myself ready to start following you and learning with the small cap challenge and also am aiming to sign up to warrior pro course in the near future.
I am based in Australia and recently set up a interactive brokers account mainly so I could trade Aussie (asx) stocks and USA exchanges but haven’t been loving their system so my thoughts are to use my existing IG markets account to trade Australian cfds if and when I want to and set up a new and proper broker ready to trade USA stocks.
I have enough to drop into a broker to be above the PDT rule so I am note sure if I should just set up with who I am likely to trade with long term rather than go with a small account broker offshore in the short term before transitioning over to another later? I could put protective measures in place with the broker to ensure I don’t blow up the account while learning (eg max share size or loss etc).
1) If you said just set up with who to use long term I am confused as to whether I should go with:
a) lightspeed
b) centre point (seem to have lost short shares available which may be good) or
c) tradestation.
2) If you said go with a small account offshore then to start with then I am unsure whether it would be best to go with
:
a) CMEG as your preferred broker or
b) tradezero as I am in Australia so could use them and get some free commission trades which may help when starting out.
Sorry for the long winded comment. Any advice would be greatly greatly appreciated!!!
Thanks
That is awesome to hear, and those are great questions! Since I don't want to leave to long of a comment here, if you email into our team at team@warriortrading.com we can help you get those questions answered ASAP! Talk soon
Warrior Trading Hi Ross. I did that and Katie came back to me already but with it being ain important question to me I was hoping for some advice direct from the grand master :). I’ll forward it on again now in case you see it. If not that’s okay I understand. Thanks.
I work a full time job, and also do amazon fba, this will be the 3rd year of growing my amazon business.. Starting 2020 I will be able to fund my trading account with enough money to not worry about the pdt rule :)
Awesome, that's great Mike!
Doing DoorDash after college classes. I should have 2k by December 1st
Right on man!! That's awesome!!
damn, that much money, holy crap, i wish i could have something like that in india that payed that well
That even sound more safe than day trading
If you are in populated area that has DoorDash you can make 300 to 700 a week from it if you put in the work for it.
@@TheDarckwarBut it won't get you to a million dollars in a life time and Ross already goes for the second :-(
My side hustle is selling my comic books that I accumulated over the years. I have a lot and many of them are golden age comics
Wow that's awesome! I bet those can be very valuable!
I'm from Philippines, I'm newbie about stock trading, a month ago I open an account here in our local stock broker and I keep on loosing money, that's why I stop for a while and need to educate myself, I came to your you tube channel and I agree of what you have said that what we need is the winning strategy, because even we have small money we can make it grow if we have a winning strategy, and you proved it by 500 dollars start challenge and you made it big, hopefuly in the future I can trade the US market because it was a big market unlike here in our country
Awesome, that's right Ronel, b sure you are signed up for Priority Access for the special black Friday offers: www.warriortrading.com/priority-access/
Hi Ross! I clicked the link in the description to see which brokerage you chose and to watch the PDT video, but the link takes me to a sign up page for your small account challenge capstone class. I signed up for it, but is the video still up or do I need to wait until you have another class? Love your videos! I’ve learned so much already
CMEG lightspeed
I cut my own wood too!
I drive a truck and I’m a licensed contractor two jobs to make it work sir
Nice Darin!
Darin Bordonaro I signed up in Xmas from Sydney still haven't heard squat
You could completely avoid the PDT rule by having a cash account.
@@0xNefu Split money in half. That way you could trade everyday.
A major component of his strategy is to use leverage to grow a small account as quickly as possible.
Ustocktrade ,cash account no pdt , and deposits same day. Only draw back is $1000 only deposit
YES totally, but settlement margin takes too long. Check out the video on this page where I breakdown the MATH of trading within the PDT rule. It literally would have taken me 5x as long to grow my account. www.warriortrading.com/small-account-challenge-pdt-rule-guide/
Everyone comments about the cash account, it’s a tale as old as the wind. Most day traders know about it but the settlements are awful.
Hey ross wanted to say thank you for all the knowledge I got scammed by many courses that were supposed to teach you how to day trade successfully and were just basic courses teaching you the very basics of trading. I read your book several times and even took notes. It is powerful stuff especially the break down I believe it is a course in itself. Thank you Ross once I get the funds I will purchase your course to get even more knowledge although like you said I have stopped looking for the holy grail.
It's my pleasure!!
Thank you for showing the way Ross, is this broker also available for Canadian residents?
Yes KZ, they are available for Canadians as well. www.warriortrading.com/capital-markets-elite-group-review/