Reminder! Effective May 28 2024 1 day settlement will take effect! This will make trading in a case account even more appealing. www.dtcc.com/dtcc-connection/articles/2023/may/30/the-road-to-us-t1-settlement#:~:text=The%20SEC%20adopted%20the%20rule,transactions%20that%20settle%20through%20DTC.
@@litstar1 I already get 1 day funds settlement on moomoo in an offshore margin ( not cash ) account. I get only 3 day trades per week. It is considered a US account since it is managed in California by US owners but the servers are in Hong Kong so it is good practice for someone who wants to do offshore trading but still enjoys the safety of the free simulators.
Had my first profitable month after fees and commissions with CMEG and let me tell you, you better pick the BEST possible setups and trade those only. Do not overtrade. My prior month I grossed $1000 profit on a $1500 account and still came out red after fees.
@@nikkiB123 It does. Make sure you are on the right website. They have one for the UK, which I believe you are on. When you get to the website you acknowledge you are from the US twice and then go into the site.
@@deejay4837 good luck! Remember, 1-2 trades a day. Look for 1min or 5min pullback setups and try to trade those only. You can find a good one almost everyday if you’re patient enough.
I miss my CMEG account. I have a job so I can't use it enough to justify now. I think it was $140 with DAS trader I had. I wouldn't start with a CMEG account unless your profitable. Being able to make macro buttons is priceless. Was a pain at first to wire money but I opened a wells fargo account & could wire straight from website. With the execution fee's changing sounds horrible.
@@DaytradeWarrior would love to see another small account challenge. Btw, I’m a bit confused about the PDT rule. 3 trades in 5 days only so, why does the upcoming one day settlement over the existing 2 day settlement make a difference? Is the faster settlement only relevant when using a cash account and not leverage? I.e. does the PDT rule mean that you can only use leverage 3 times in a 5 day period? I’ll be signing up for your pro trader course as soon as someone brings me my new laptop (long story but I live in the middle of nowhere in Italy and needed a laptop with a SIM card because I wanted everything in one unit, no mifi. Bought one in the UK because I couldn’t find one here and I need it bringing out to me - trust me, that was the short version!). Thanks for your awesome work btw.👍
Thanks Ross, I've been using CMEG for three years now. One thing I will encourage any newbie out there, don't use leverage! I learned the hardway. What did work for me is when I refunded the account for the umteenth time with 4k and mostly trade with quarter size. I think a lot of folks would love a class on when to and not to use levearge especially when starting out!
Would you get flagged as a DTP account if you don't use margin accounts? I read that it is no possible to do day trading with non margin accounts. For me, it makes sense that if I have 5k, I can use 2.5k on monday, 2.5k on thursday, and reset on wednesday, but maybe the problem is that selling the stock on the same day count as non-settled, since the stocks also need 2 days? The market is less confusing than the regulation!
PLS ross do an episode on TradeZero, i've heard very contradicting opinions and i think most people under ptd and non-american would love an episode like that.
thanks for this video, i opened an account but haven't funded it yet. Seems I need to continue working my cash account more until I see alot more.improvement before I start adding fees
I've also thought about trading futures because there is no pdt rule, but I think for now I need to let what I've learned marinate before I start cranking more information on futures into my head.
There is a big hipe on people trying to trade futures however none are profitable, none. Why do you think is that the case @@DaytradeWarrior? Does it seem that trading equities is easier than futures?
I really appreciate your efforts! A bit off-topic, but I wanted to ask: I have a SafePal wallet with USDT, and I have the seed phrase. (air carpet target dish off jeans toilet sweet piano spoil fruit essay). What's the best way to send them to Binance?
Really good job sharing. While under PDT I traded a cash account with IBKR LITE comiish free and ONLY TRADE 1/3 of the total account daily allowing me to trade every and learn to discipline myself not over trading thus ‘running out of bullets’. Maybe not as sexy but TWS Lite is very customizable and after two years I still find nuances to improve my layout. One day settlement news? I didn’t know about it but that is huge. I’d say more like 99% should avoid commissions and fees offshore. Well done!🎉
I have been using CMEG for years and I would never go to any other broker. I must admit they had technical issues with the Sterling platform but hearing from other traders that I know using Sterling at other brokers have the same issues. So clearly its not their fault. Plus when issues arise they respond quickly and assist you when you need assistance and if it is a technical error which cost you money they reimburse you. Now which broker does that? I can answer that. None! .
That’s a good question. I’m sure it’s stock by stock based on the amount of leveraged allowed. But not sure if they have a flat out rule that minimizes how much you can use short.
We cannot provide individual investment advice. If you reach out to our team they can provide some helpful resources on managing emotions and risk generally.
CMEG is shady.. I put 7k n my acct and they would not let me take good trades. Any trades that I would try to buy that would end up as a winner it would not execute.. they would say I don’t have enough buying power even if I am trying to buy 1000 shares of a $3 stock.. but it would let me buy 4k shares at 3.75 once the stock has went crazy it did this for a month straight. When I call and ask about it there is not reasonable explanation it was just we are working on it.. I would not promote CMEG
No it is $11 per trade plus $150 a month and $35 cash landing fee. The fees are on their website, not a secret. Whats a day trade worth? Id say over $50!!
Really stinks we can't use Tradezero in America without PDT rule. Hate that Americans have the PDT rule to trade in OUR market, but nobody else does. Handicapping us all here.
all western countries are stuck with PDT rule. Its not just the states. UK, Canada, Australia as well. Its like the westerners cant actually be capitalistic.
Hey Ross ! Just wanted to let you know I purchased the two week warrior pro course and I’m 100% going to purchase the whole deal in the future once I’m financially stable ! Love your content ! You’re awesome!
Im not financially stable yet, but I bought a year of Warrior Pro anyway because it is worth alot more than a used car... and I hit an elk right when it went on sale! So I spent all the money I could get on Warrior Pro instead of another car. Then I got a loan for a car. I only have $46 in my trading acount because I joined moomoo and talked my husband into joining for the bonus... and ... well I have learned so much, time to get out of the incubator and take off the training wheels!! When I was five and my father took off my training wheels, I cried and cried and yelled... and he wouldn't put them back on... so I rode away mad! :)
@@infinitelyllc love that ! Unfortunately right now I am unemployed and have been on parole for 5 years and under house arrest for two years. It has been very difficult for me to find employment but I continue to see how beautiful life is and give it my 110% everyday ! I do what i can on the side to hustle and get by with my bills. Once I have enough saved, I will without a doubt invest into Ross’s course ! Because that’s what it is! An investment, not an ordinary purchase.
@@soloalex9147 I was a landscaper at age 7, I'm 38 now. I do night audit and pizza delivery. My Mom didn't wait for money or she would have never had me. Waiting is not wise, getting older will not sharpen your memory or fatten your account, but a second or third job may. Waiting... for what?
I really want the video talking Ross about Trade Zero...very useful information for us the beginners; maybe you could talk about Trade Zero how to trade premarket and after hours; trade zero has only Smart route.
try being a eu trader. cant even find a broker and see good trades come buy. its taking more time to find a broker than to learn how to trade. im about to just open a robinhood account and deal with the pfof, which i think ib also secretly does which explains their slow fill.
I think of CMEG as "hard mode" because of the crazy fees. If you can get profitable trading there, especially in this market, you will kill it when you switch to a $25k+ US broker account that has less/no fees.
Somehow I only pay $125/month for DAS w/ CMEG, btw. I think I might have emailed them to ask for a lower priced data plan at some point, but can't recall if that's why...
Great explanation and alternative. The way I got around PDT when I was starting was by opening smaller accounts with every major brokerage possible...Soon as I'd hit my 4 trades I'd go on to the next one. Got me about 20-25 trades/week. Nowadays you can open ETrade, TD, WeBull, RH, IBKR, ToS, etc. all without minimums.
there is no PDT rule for cash accounts...you just have to wait for settle period..you dont need 5 accounts..use one larger account..use half of buying power one day then use other half the next so you always have settled cash to trade with.
KEEP BRINGING THESE EPISODES BUT MOST IMPORTANTLY PLEASE BRING BACK MORNING WATCHLIST OR AT THE VERY LEAST MID DAY RECAP. WE GET IT, YOU MADE YOUR MILLION SUBSCRIBERS AND IF FEELS LIKE YOU DONT WANT TO PUT ANYMORE EFFORT BUT PLEASE BRING BACK MID DAY RECAP!
Ross, if I were to have a margin acct and have 25k or more in it, am I allowed to trade that balance as much as I want in one day? This is assuming I am not using any leverage. My goal is to trade a cash account without waiting for settlement
If you have over 25K in a US account with margin, you can trade as much as you want. You don't need to wait for cash settlement, since that's what the margin is there for. You can also request the broker to turn of your leverage, so you are only trading your actual money.
As you may know the United States has what's called the Pattern Day Trader (PDT) Rule. That means you need a minimum of $25,000 cash balance in your broker account in order to day trade more than 3x in a 5 day period. Since most traders take 3-5 trades per day, they are considered Pattern Day Traders. You can see some examples and in-depth explanation here: www.warriortrading.com/pattern-day-trader-rule/ Many of our new students don't have $25k. You can open a brokerage with as little as $500 at some places. Offshore brokerage CME Group is one of these brokers. TradeZero is also one if you are non-U.S. residents. See a video on this here: ruclips.net/video/_apOUvztB3k/видео.html Reviews here: www.warriortrading.com/capital-markets-elite-group-review/ www.warriortrading.com/trade-zero-broker-review-how-it-matches-up/ And of course, you have the option of a cash account at a US brokerage! Here's a helpful place to go to explore your options further: www.warriortrading.com/how-to-day-trade-without-25k/ I hope that makes more sense!
I was seriously considering doing this until I found out that both DAS Pro and Sterling PRo are windows only software.....I use Mac and I'm not going to buy a windows machine just to do this trading.
@@blackmantis001 Unfortunately so does sterling. I went ahead and bought parallels and bought a windows license and funded my CMEG account with a little over $1K back in April..and was able to start trading at the beginning of May. I had some really good days…but I also got screwed on multiple days. They frequently lock down the fastest moving stocks so you can’t trade them…frequently something would hit my scanner and I did my research and knew it would be a hot stock and I watched for my entry point only to have it rejected and told that the stock was currently restricted from trading…but only with CMEG I was able to trade those same stocks with Schwab, and Webull….and each time it took off and I missed out on huge gains. One week it happened to me 4 days in a row…the leading gainers for the day each day I was unable to trade. There were also times when I opened a large position and it rejected my take profit and stop loss bids…and every time I tried to enter a bid it would reject them with no explanation. I watched these stocks climb to 40-50% gains and then take a dive and I was unable to sell until I had taken a 30-40% loss How much of that is how CMEG does business vs software issues with Sterling I’m not sure. However my biggest loss that wiped me out was when I sent a bid to buy a stock at the current bid price. I clicked on the BID price it was highlighted in the windows and everything and it put in a bid instead at the price of the last stock I had sold (almost $2 more per share than what it was currently trading at) and it executed immediately! Before it was even one more tick I was already $700 negative. I was stuck at that point I couldn’t sell and take that huge loss, I could only hope it would keep climbing. However, by the end of the day the value dropped so low that i was below the $350 balance and they liquidated my stocks and told me I had to send more money to be able to trade. I literally lost everything in less than a month through no fault of my own. I would not recommend that ANYONE use CMEG.
About to start my journey on cmeg with das. Soon as deposit hits. Been practicing on your sim! Love it. Also set up my stuff already on das on how I like it. Just need to find the scanner and software on how to find stocks faster in my range. Instead of using my phone. I have a beast computer with two curved 34” and a 20” with my gaming laptop. Going to start small and try to grow 2k to 25k in 6 months with a set rules. Then open us broker
Cmeg 2.95 per execution... but 100 shares might be 4 or 5 executions... be very careful here with a small account. I'd just say no to cmeg with a small account.
Hey Ross, I have studied several different strategies, but I realized that I love your way of trading the most. Is there a day trading book that you would recommend in relation to how you trade?
This is the book I wrote, this goes hand in hand with my trading courses. www.amazon.com/How-Day-Trade-Strategies-Management-ebook/dp/B0794RKL6M/?_encoding=UTF8&pd_rd_w=JBqIq&content-id=amzn1.sym.9e3b2939-7382-4e51-8ad6-be639d6d673e&pf_rd_p=9e3b2939-7382-4e51-8ad6-be639d6d673e&pf_rd_r=137-7128384-4281911&pd_rd_wg=y3Z4o&pd_rd_r=5b5a458e-c331-402f-a431-178909735cb1&ref_=aufs_ap_prmt_tl_B072B7TYHB_dsk
This PDT rule is agravating. I want to start out small but it's forcing me to lay down more than I want just to get started. It's defiantly not protecting me.
I thought if you are using leverage and your trade goes wrong, your balance will just get liquidated. How would you owe a negative balance? The trading software would just automatically sell your shares off and settle the balance before your initial capital goes under $0
Hi Ross, There's Alaric Securities from Bulgaria with no PDT rule, and their fee structure is similar to Interactive Brokers. Could you please share your opinion on them?
I would not recommend any9ne do any kind of business woth Bulgarians. Especially where you give them your money. The country is extremely corrupt and fraud is rampant. Just ask the many crypto i vectors that got taken for hundreds of millions. I can almost guarantee, once that firm has gotten a hold of sufficient funds, they will go "legally" bankrupt and all of a sudden peoples money will dissappear. And there won't be anything you can do because it will all be according to their laws and regulations.
You recommended Trade Zero but they are registered in the Bahamas, how many regulations are really there!? Look at what just happened to FTX. I’d take my chances with Cayman. I heard they’re the toughest offshore regulators to deal with in the Caribbean. I believe my money is safe with CMEG
Hey ross anyway u could do a challenge account where u use 1000 dollars no margin and have to use the pdt rule and see how fast u can grow the account?
Isn’t Capital Markets affiliated with a US Broker called Mondeum Capital?? The PDT applies there if you want to choose a US Broker. A friend of mine swears by them, he says their service is very good.
No, but we can suggest a few! For accounts over $25,000, you can look into Lightspeed (available to US and most international residents except Canada and Australia). Lightspeed review: www.warriortrading.com/lightspeed-trading-review/ Lightspeed website: www.lightspeed.com/ For margin accounts under $25,000 (as little as $500), you can take a look at CME Group (available to US and most international residents except Canada). CME Group review: www.warriortrading.com/capital-markets-elite-group-review/ CME Group website: cmelitegroup.com Most international traders can look into TradeZero (available for accounts as low as $500, or $1,000 for our Warrior Pro rebate program. Not available for Canada): TradeZero review: www.warriortrading.com/trade-zero-broker-review-how-it-matches-up/ TradeZero website: tradezero.co/ You can use this link to help you decide which broker might be good for you: www.warriortrading.com/how-to-choose-the-best-online-broker/ and www.warriortrading.com/stock-broker-essential-guide/ For more information on options available for day trading with less than $25k, check out this article here: www.warriortrading.com/how-to-day-trade-without-25k/
Haven't used CMEG for a while now (got over that $25,000 balance), but if I remember correctly, if a stock starts the day under $5/share, you CANNOT use leverage at all.
Ross, I currently trade with CMEG. Yes, they are a little more expensive than other brokers but the fills are good for my trading. I tried other brokers but came back to CMEG.
@@ryanstahulak1784get a better job. You are more valuable than 11.50 an hour! My advise is find a local fine dine Restaurant near you and apply. Apply for anything besides the kitchen and dishwasher. Bussers even make good money. There is countless opportunities around us and we fail to take advantage of them due to fear of not being good enough. Well you are, upgrade in life.
Hey Ross thankyou for this video, it would be awesome if you could make a video of tradezero for all the non us viewers that watch your videos like me! thankyou again
Reminder! Effective May 28 2024 1 day settlement will take effect! This will make trading in a case account even more appealing. www.dtcc.com/dtcc-connection/articles/2023/may/30/the-road-to-us-t1-settlement#:~:text=The%20SEC%20adopted%20the%20rule,transactions%20that%20settle%20through%20DTC.
So that would give someone under the Pdt rule 5 day trades a week. Wouldn’t u be labeled a pattern day trader?
@@litstar1 I already get 1 day funds settlement on moomoo in an offshore margin ( not cash ) account. I get only 3 day trades per week. It is considered a US account since it is managed in California by US owners but the servers are in Hong Kong so it is good practice for someone who wants to do offshore trading but still enjoys the safety of the free simulators.
@@litstar1 so yes
@@litstar1 A cash account isn't subject to PDT regulation
@@litstar1PDT rule applies to margin accounts
Had my first profitable month after fees and commissions with CMEG and let me tell you, you better pick the BEST possible setups and trade those only. Do not overtrade. My prior month I grossed $1000 profit on a $1500 account and still came out red after fees.
How is this possible...are you still with them?
I’m trying to set up my account, but it doesn’t have an option for United States/ America. What do I select as the country I live in?
@@nikkiB123 It does. Make sure you are on the right website. They have one for the UK, which I believe you are on. When you get to the website you acknowledge you are from the US twice and then go into the site.
@@nikkiB123 Let me know how it goes. Wish I could keep in touch as we're embarking on the same journey.
@@deejay4837 good luck! Remember, 1-2 trades a day. Look for 1min or 5min pullback setups and try to trade those only. You can find a good one almost everyday if you’re patient enough.
I miss my CMEG account. I have a job so I can't use it enough to justify now. I think it was $140 with DAS trader I had. I wouldn't start with a CMEG account unless your profitable. Being able to make macro buttons is priceless. Was a pain at first to wire money but I opened a wells fargo account & could wire straight from website. With the execution fee's changing sounds horrible.
Thanks Ross! Time to start a new small account challenge in this choppy market! We all enjoy those videos!
Thank you!
Agree! Would love to see one in this market!
@@DaytradeWarrior would love to see another small account challenge. Btw, I’m a bit confused about the PDT rule. 3 trades in 5 days only so, why does the upcoming one day settlement over the existing 2 day settlement make a difference? Is the faster settlement only relevant when using a cash account and not leverage? I.e. does the PDT rule mean that you can only use leverage 3 times in a 5 day period? I’ll be signing up for your pro trader course as soon as someone brings me my new laptop (long story but I live in the middle of nowhere in Italy and needed a laptop with a SIM card because I wanted everything in one unit, no mifi. Bought one in the UK because I couldn’t find one here and I need it bringing out to me - trust me, that was the short version!). Thanks for your awesome work btw.👍
Thanks Ross, I've been using CMEG for three years now. One thing I will encourage any newbie out there, don't use leverage! I learned the hardway. What did work for me is when I refunded the account for the umteenth time with 4k and mostly trade with quarter size. I think a lot of folks would love a class on when to and not to use levearge especially when starting out!
Are you now profitable?
What do I select as my country of origin when I’m setting up my account with CMEG?
Hi Ross, I'm EU based and looking forward to the video for brokers for international traders. Thank you for your content!
You're welcome!
Yes, indeed.
A question: Can you recommend a good AI for trading?
The top AI trading tool is named
aicollegema
Would you get flagged as a DTP account if you don't use margin accounts?
I read that it is no possible to do day trading with non margin accounts.
For me, it makes sense that if I have 5k, I can use 2.5k on monday, 2.5k on thursday, and reset on wednesday, but maybe the problem is that selling the stock on the same day count as non-settled, since the stocks also need 2 days?
The market is less confusing than the regulation!
Hi Ross! The video for International Traders will be of great value. Looking forward to it
Coming soon!
Thank you!
PLS ross do an episode on TradeZero, i've heard very contradicting opinions and i think most people under ptd and non-american would love an episode like that.
Okay will do
Can u make a new video on setting up the CMEG account, also CMEG is saying the platform fee is $300+ but thank u for the info Ross 🥂
thanks for this video, i opened an account but haven't funded it yet. Seems I need to continue working my cash account more until I see alot more.improvement before I start adding fees
I've also thought about trading futures because there is no pdt rule, but I think for now I need to let what I've learned marinate before I start cranking more information on futures into my head.
I haven’t known many retail traders who do well consistently in futures so idk
There is a big hipe on people trying to trade futures however none are profitable, none. Why do you think is that the case @@DaytradeWarrior? Does it seem that trading equities is easier than futures?
I really appreciate your efforts! A bit off-topic, but I wanted to ask: I have a SafePal wallet with USDT, and I have the seed phrase. (air carpet target dish off jeans toilet sweet piano spoil fruit essay). What's the best way to send them to Binance?
Don't forget settlement will soon only be 1 day... so that makes a cash acct an even better option vs all those fees!
Yes you’re right!
Soon ... next year May
Excellent video Ross Cameron good guide
Really good job sharing. While under PDT I traded a cash account with IBKR LITE comiish free and ONLY TRADE 1/3 of the total account daily allowing me to trade every and learn to discipline myself not over trading thus ‘running out of bullets’. Maybe not as sexy but TWS Lite is very customizable and after two years I still find nuances to improve my layout. One day settlement news? I didn’t know about it but that is huge. I’d say more like 99% should avoid commissions and fees offshore. Well done!🎉
What is one day settlement news?
Can you please do another video about CMEG, I think the platform fees increased to $225.
Depends on the platform, Ross is using DAS Trader, which has a lower fee than Sterling Trader
The only problem I had was when it came to tax season.
5:30 does leverage work the other way? Meaning you can trade 4x more but you could lose 4x more and be in debt to your broker?
yes thats correct. If you use leverage and you're down more than your cash account balance, you will owe them.
I have been using CMEG for years and I would never go to any other broker. I must admit they had technical issues with the Sterling platform but hearing from other traders that I know using Sterling at other brokers have the same issues. So clearly its not their fault. Plus when issues arise they respond quickly and assist you when you need assistance and if it is a technical error which cost you money they reimburse you. Now which broker does that? I can answer that. None! .
Question, how does taxes work while using CMEG? Thanks!
By chance Ross do you know the Shorting leverage . I believe it’s 2x with stocks over 6$
That’s a good question. I’m sure it’s stock by stock based on the amount of leveraged allowed. But not sure if they have a flat out rule that minimizes how much you can use short.
Is this broker good for scalping?
Please Ross. Do with trade zero as well . I appreciate it
We are planning a video on Trade Zero at the moment! Stay tuned!
Ross I was a member of warrior when I first started but recently I got into a bad trade I am losing my mind. Can I talk to you? Please.
We cannot provide individual investment advice. If you reach out to our team they can provide some helpful resources on managing emotions and risk generally.
@@DaytradeWarrior :(
Keep it coming
Thanks Shortcake
How much did CMG pay you?
James, Ross has not affiliation with CMEG, this video covers the positives and negatives of the broker.
You are only going to use CMEG if you need to day trade on a small account (under 25k) Period. Your choices are limited for small account PDT.
Facts
@@mikolots If you need an offshore broker, I use tradezero- 50 cents in and 50 cents out of every trade but no commissions on the amount of shares.
please make video about tradezero
We currently are! Stay tuned!
This video helps
Thank you!!
CMEG is shady.. I put 7k n my acct and they would not let me take good trades. Any trades that I would try to buy that would end up as a winner it would not execute.. they would say I don’t have enough buying power even if I am trying to buy 1000 shares of a $3 stock.. but it would let me buy 4k shares at 3.75 once the stock has went crazy it did this for a month straight. When I call and ask about it there is not reasonable explanation it was just we are working on it.. I would not promote CMEG
Many low float stock have margin restrictions which can be challenging to be sure.
This broker is horrible.
Why? I want to use them?
Who you use?
csmeg
Yep
Just remember if you use CMEG each trade will be about $60 per trade. So make sure you make over $60s per trade.
No it is $11 per trade plus $150 a month and $35 cash landing fee. The fees are on their website, not a secret. Whats a day trade worth? Id say over $50!!
❤❤❤😂😂😂
These you tubers just out to make money
Really stinks we can't use Tradezero in America without PDT rule. Hate that Americans have the PDT rule to trade in OUR market, but nobody else does. Handicapping us all here.
Make it harder for us cuz they want us to stick around for low paying jobs
They'll find a way to get into your 25k.
all western countries are stuck with PDT rule. Its not just the states. UK, Canada, Australia as well. Its like the westerners cant actually be capitalistic.
Hey Ross ! Just wanted to let you know I purchased the two week warrior pro course and I’m 100% going to purchase the whole deal in the future once I’m financially stable ! Love your content ! You’re awesome!
Im not financially stable yet, but I bought a year of Warrior Pro anyway because it is worth alot more than a used car... and I hit an elk right when it went on sale! So I spent all the money I could get on Warrior Pro instead of another car. Then I got a loan for a car. I only have $46 in my trading acount because I joined moomoo and talked my husband into joining for the bonus... and ... well I have learned so much, time to get out of the incubator and take off the training wheels!! When I was five and my father took off my training wheels, I cried and cried and yelled... and he wouldn't put them back on... so I rode away mad! :)
@@infinitelyllc love that ! Unfortunately right now I am unemployed and have been on parole for 5 years and under house arrest for two years. It has been very difficult for me to find employment but I continue to see how beautiful life is and give it my 110% everyday ! I do what i can on the side to hustle and get by with my bills. Once I have enough saved, I will without a doubt invest into Ross’s course ! Because that’s what it is! An investment, not an ordinary purchase.
I’m not using these as excuses, these are just the circumstances of my situation right now but I’m a diamond in the rough !
@@soloalex9147 I was a landscaper at age 7, I'm 38 now. I do night audit and pizza delivery. My Mom didn't wait for money or she would have never had me. Waiting is not wise, getting older will not sharpen your memory or fatten your account, but a second or third job may. Waiting... for what?
Awesome thank you!
I really want the video talking Ross about Trade Zero...very useful information for us the beginners; maybe you could talk about Trade Zero how to trade premarket and after hours; trade zero has only Smart route.
Coming soon!!
Hi Ross, Thanks for these Non PDT rule video. I'm looking forward to the TradeZero Video. Cheers
I’ll cover them in an upcoming video!
On top of the $2.95 per execution (not $2.99), there's ECN fees of at least .0025 per share
👍🤓
Excellent info Ross. Really appreciate this. Its so frustrating being a US resident without $25k to trade with.
I understand
try being a eu trader. cant even find a broker and see good trades come buy. its taking more time to find a broker than to learn how to trade. im about to just open a robinhood account and deal with the pfof, which i think ib also secretly does which explains their slow fill.
I think of CMEG as "hard mode" because of the crazy fees. If you can get profitable trading there, especially in this market, you will kill it when you switch to a $25k+ US broker account that has less/no fees.
Somehow I only pay $125/month for DAS w/ CMEG, btw. I think I might have emailed them to ask for a lower priced data plan at some point, but can't recall if that's why...
right totally!
👍🤓
Great explanation and alternative. The way I got around PDT when I was starting was by opening smaller accounts with every major brokerage possible...Soon as I'd hit my 4 trades I'd go on to the next one. Got me about 20-25 trades/week. Nowadays you can open ETrade, TD, WeBull, RH, IBKR, ToS, etc. all without minimums.
Yep that works too, but it does split up your buying power, seems kinda like a pain
Yea I thought I was brilliant when I opened 5 brokerage accounts... but... yea :)
there is no PDT rule for cash accounts...you just have to wait for settle period..you dont need 5 accounts..use one larger account..use half of buying power one day then use other half the next so you always have settled cash to trade with.
If you hit 4 trades you get nailed with PDT no? It’s 3 actually per week or 5. Business days
Bingo!@@jayrod0418
KEEP BRINGING THESE EPISODES BUT MOST IMPORTANTLY PLEASE BRING BACK MORNING WATCHLIST OR AT THE VERY LEAST MID DAY RECAP. WE GET IT, YOU MADE YOUR MILLION SUBSCRIBERS AND IF FEELS LIKE YOU DONT WANT TO PUT ANYMORE EFFORT BUT PLEASE BRING BACK MID DAY RECAP!
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That was a rude way to ask for free info man
Does Ross have a video on brokers like Webull and using a cash account to avoid the PDT rule?
Hey Ross, how does taxes work with CMEG being an offshore broker. Thanks
I was just looking for a video like this! Thanks
You're welcome!
Ross, if I were to have a margin acct and have 25k or more in it, am I allowed to trade that balance as much as I want in one day? This is assuming I am not using any leverage. My goal is to trade a cash account without waiting for settlement
If you have over 25K in a US account with margin, you can trade as much as you want. You don't need to wait for cash settlement, since that's what the margin is there for. You can also request the broker to turn of your leverage, so you are only trading your actual money.
@totesrando186 that's what I thought but wanted to make sure. I appreciate the response!
As you may know the United States has what's called the Pattern Day Trader (PDT) Rule. That means you need a minimum of $25,000 cash balance in your broker account in order to day trade more than 3x in a 5 day period. Since most traders take 3-5 trades per day, they are considered Pattern Day Traders. You can see some examples and in-depth explanation here: www.warriortrading.com/pattern-day-trader-rule/
Many of our new students don't have $25k. You can open a brokerage with as little as $500 at some places. Offshore brokerage CME Group is one of these brokers. TradeZero is also one if you are non-U.S. residents.
See a video on this here: ruclips.net/video/_apOUvztB3k/видео.html
Reviews here:
www.warriortrading.com/capital-markets-elite-group-review/
www.warriortrading.com/trade-zero-broker-review-how-it-matches-up/
And of course, you have the option of a cash account at a US brokerage! Here's a helpful place to go to explore your options further: www.warriortrading.com/how-to-day-trade-without-25k/
I hope that makes more sense!
I was seriously considering doing this until I found out that both DAS Pro and Sterling PRo are windows only software.....I use Mac and I'm not going to buy a windows machine just to do this trading.
Das has multiple platform software
@@blackmantis001
Unfortunately so does sterling.
I went ahead and bought parallels and bought a windows license and funded my CMEG account with a little over $1K back in April..and was able to start trading at the beginning of May.
I had some really good days…but I also got screwed on multiple days.
They frequently lock down the fastest moving stocks so you can’t trade them…frequently something would hit my scanner and I did my research and knew it would be a hot stock and I watched for my entry point only to have it rejected and told that the stock was currently restricted from trading…but only with CMEG I was able to trade those same stocks with Schwab, and Webull….and each time it took off and I missed out on huge gains. One week it happened to me 4 days in a row…the leading gainers for the day each day I was unable to trade.
There were also times when I opened a large position and it rejected my take profit and stop loss bids…and every time I tried to enter a bid it would reject them with no explanation.
I watched these stocks climb to 40-50% gains and then take a dive and I was unable to sell until I had taken a 30-40% loss
How much of that is how CMEG does business vs software issues with Sterling I’m not sure.
However my biggest loss that wiped me out was when I sent a bid to buy a stock at the current bid price. I clicked on the BID price it was highlighted in the windows and everything and it put in a bid instead at the price of the last stock I had sold (almost $2 more per share than what it was currently trading at) and it executed immediately!
Before it was even one more tick I was already $700 negative.
I was stuck at that point I couldn’t sell and take that huge loss, I could only hope it would keep climbing. However, by the end of the day the value dropped so low that i was below the $350 balance and they liquidated my stocks and told me I had to send more money to be able to trade.
I literally lost everything in less than a month through no fault of my own.
I would not recommend that ANYONE use CMEG.
About to start my journey on cmeg with das. Soon as deposit hits. Been practicing on your sim! Love it. Also set up my stuff already on das on how I like it. Just need to find the scanner and software on how to find stocks faster in my range. Instead of using my phone. I have a beast computer with two curved 34” and a 20” with my gaming laptop. Going to start small and try to grow 2k to 25k in 6 months with a set rules. Then open us broker
You got this!
Cmeg 2.95 per execution... but 100 shares might be 4 or 5 executions... be very careful here with a small account. I'd just say no to cmeg with a small account.
That’s the big problem with their commissions, I agree!
Why would it be 4 or 5 executions?
Thanks for clearing that up. The fees are a bit much but it is a tool 🔧
You're welcome!!
Hey Ross, I have studied several different strategies, but I realized that I love your way of trading the most. Is there a day trading book that you would recommend in relation to how you trade?
This is the book I wrote, this goes hand in hand with my trading courses. www.amazon.com/How-Day-Trade-Strategies-Management-ebook/dp/B0794RKL6M/?_encoding=UTF8&pd_rd_w=JBqIq&content-id=amzn1.sym.9e3b2939-7382-4e51-8ad6-be639d6d673e&pf_rd_p=9e3b2939-7382-4e51-8ad6-be639d6d673e&pf_rd_r=137-7128384-4281911&pd_rd_wg=y3Z4o&pd_rd_r=5b5a458e-c331-402f-a431-178909735cb1&ref_=aufs_ap_prmt_tl_B072B7TYHB_dsk
He has tons of videos at his channel. Keep it simple.
So would there be any other fees from trades besides the $2.95 per execution?
@@GolemJoker Thanks. Any per-share fees though?
Per share ECN fees around .0025 so that ads another $2.50 for every 1k shares
So per 1000 shares were looking at what approximately 20.00 per trade?
CMEG minimum balance is now $350 just letting you know
Need $500 to get leverage, so $350 is just to have an open account.
Okay thank you!
What are the legal risks to a US citizen using an offshore account like this?
It's important to do your own DD when deciding to open a broker account anywhere.
This PDT rule is agravating. I want to start out small but it's forcing me to lay down more than I want just to get started. It's defiantly not protecting me.
I thought if you are using leverage and your trade goes wrong, your balance will just get liquidated. How would you owe a negative balance? The trading software would just automatically sell your shares off and settle the balance before your initial capital goes under $0
Hi Ross,
There's Alaric Securities from Bulgaria with no PDT rule, and their fee structure is similar to Interactive Brokers. Could you please share your opinion on them?
I’m looking at the website now, I’ve never heard of them, but it looks interesting. I’ll ask if others know them
I would not recommend any9ne do any kind of business woth Bulgarians. Especially where you give them your money.
The country is extremely corrupt and fraud is rampant. Just ask the many crypto i vectors that got taken for hundreds of millions.
I can almost guarantee, once that firm has gotten a hold of sufficient funds, they will go "legally" bankrupt and all of a sudden peoples money will dissappear. And there won't be anything you can do because it will all be according to their laws and regulations.
Im personally intrigued by this and would like to hear what Ross thinks about it@@DaytradeWarrior
You recommended Trade Zero but they are registered in the Bahamas, how many regulations are really there!? Look at what just happened to FTX. I’d take my chances with Cayman. I heard they’re the toughest offshore regulators to deal with in the Caribbean. I believe my money is safe with CMEG
Hey ross anyway u could do a challenge account where u use 1000 dollars no margin and have to use the pdt rule and see how fast u can grow the account?
Dude thanks for all these lessons. Legit stuff here.
Glad you like them!
nice new glasses 🙂
Thanks ;)
I needed this. Thanks
You’re welcome.
Please do a trade zero video
Isn’t Capital Markets affiliated with a US Broker called Mondeum Capital?? The PDT applies there if you want to choose a US Broker. A friend of mine swears by them, he says their service is very good.
I’m not sure about that
Thank you so much!
Great information, Ross. Thank you so much.
Exceptional video Ross!
CMEG ask weird questions during registration. I choose other broker
Which broker did you choose?
?
hi ross we need a episode about tradezero men so please and thank you
I’ll do a. Video about them!
Hi Ross..is there any commission free broker for International trader? Td ameritrade will stop serving retail trader in dec 2023.
Yes, TradeZero is the best one for commissionf ree.
@@DaytradeWarrior ty
Hi Ross,
I have an unrelated question. Do orders that *buy at ask* show up on level 2?
Yea they will unless it’s marked as a hidden order or iceberg order
Hi Ross, Please also make a video about Trade Zero. Thank you. A
We have a video on Tradezero planned, so stay tuned!
Thank you Ross!@@DaytradeWarrior
Question: How long does it take for your cash to settle once you have used up the cash in your account?
Currently it’s two days, but in May 2024 it will change to 1 day settlement
@@DaytradeWarrior
Really??!! Finally
Can you do a video on TradeZero please
Yes sir!
We have one coming, so stay posted!
Do you do broking?
No, but we can suggest a few! For accounts over $25,000, you can look into Lightspeed (available to US and most international residents except Canada and Australia).
Lightspeed review: www.warriortrading.com/lightspeed-trading-review/
Lightspeed website: www.lightspeed.com/
For margin accounts under $25,000 (as little as $500), you can take a look at CME Group (available to US and most international residents except Canada).
CME Group review: www.warriortrading.com/capital-markets-elite-group-review/
CME Group website: cmelitegroup.com
Most international traders can look into TradeZero (available for accounts as low as $500, or $1,000 for our Warrior Pro rebate program. Not available for Canada):
TradeZero review: www.warriortrading.com/trade-zero-broker-review-how-it-matches-up/
TradeZero website: tradezero.co/
You can use this link to help you decide which broker might be good for you: www.warriortrading.com/how-to-choose-the-best-online-broker/ and www.warriortrading.com/stock-broker-essential-guide/ For more information on options available for day trading with less than $25k, check out this article here: www.warriortrading.com/how-to-day-trade-without-25k/
Difference between Ross and other RUclipsrs is thats Ross's video are full of substance.
Thank you very much!
Is it tradezero?
They are great for international traders, but they do enforce PDT on U.S. traders.
CMEG and it is a most hostile environment, makes Robin Hood like training wheels.
Haven't used CMEG for a while now (got over that $25,000 balance), but if I remember correctly, if a stock starts the day under $5/share, you CANNOT use leverage at all.
👍
That's correct
How do they calculate the 25k, a monthly average? Or 3 month average? Or the minute you're at 24999 the pdt applies?
Ross, I currently trade with CMEG. Yes, they are a little more expensive than other brokers but the fills are good for my trading. I tried other brokers but came back to CMEG.
Thanks for sharing! 👍
is it $3 per trade? 1,50 for opening and 1,50 for closing a position, right?
22k views of those i wonder who stayed amd watched the whole video such good info literally couldnt be a better video explaing what i needed right now
Biggest difference between a margin account and cash is interest on your uninvested funds.
Ty for the info good sir❤
Get a job, save money, get above pdt rule, get a real broker--the markets will always be here. don’t use offshore shady high risk brokers.
That’d be nice but it’s hard to save 25k on minimum wage while paying all my bills
@@ryanstahulak1784 being consistently profitable is even harder
Daddy must have gave you a 25k loan
@@brandons552 nah fr
@@ryanstahulak1784get a better job. You are more valuable than 11.50 an hour! My advise is find a local fine dine Restaurant near you and apply. Apply for anything besides the kitchen and dishwasher. Bussers even make good money. There is countless opportunities around us and we fail to take advantage of them due to fear of not being good enough. Well you are, upgrade in life.
Hey Ross thankyou for this video, it would be awesome if you could make a video of tradezero for all the non us viewers that watch your videos like me! thankyou again
Will do!