Ross Cameron is the founder of Warrior Trading, a chat room and trading education service targeted at beginners. He’s the red-haired, scruffy looking dude behind the company and employs other mentors to teach different strategies for trading small cap stocks. Ross has a net worth of $4 million as of 2020.
Warrior Trading originally started just as a blog in 2012. Over the last eight years it has become one of the most popular live day trading chat rooms. Clearly, he must be doing something right, but questions remain. Is his service popular because he provides the best education or because he’s a clever marketer? Personally, I think it could be a mix of both components. I’m skeptical due to the abundance of fraudsters selling courses and not showing verified profits to back-up earning claims.
Their mission is to create 50,000 full-time traders by 2020. A very ambitious statement but apparently they have 500,000 members so it’s not as crazy as it sounds. I think they’ll be doing well to help 500 people quit their jobs and trade the markets full-time from home. According to a survey from 100 randomly selected graduates from the Warrior Pro group, 82% who completed the class became profitable traders. This could be true or they could have purposely cherry picked their top students. 82% success rate sounds far fetched.
Ross is the main guy and founder, he follows 3 simple strategies – gap and go, reversal and momentum. These are easy to learn and spot but that doesn’t make them easy to make money with. He employs two main instructors as he can’t teach 5,000 students all at once. Mike Herman trades news driven momentum stocks above $20 using technical analysis and market sentiment to gain an edge. Jeff Foster is a swing trader with 9 years experience. Jeff likes to play high volume momentum stocks with solid chart setups and is constantly testing new strategies. From reading other reviews from past customers these two guys have been highlighted as the best instructors to follow.
Warrior Trading Chat Room Overview
They have three different pricing options starting at $149 per month, $297 per quarter and $897 annually. Bonuses are offered for those crazy people who decide to join on an annual basis. If you’re thinking of signing up, I recommend going through all their free content on YouTube and reading blog posts. You’ll need to pay to learn the more dense material. Also, they offer a 7 day free trial and you can use the coupon code “300OFF” to save $300.
The chat room is very active with an average of 1,000 people on a daily basis. Composed of traders with varying degrees of experience, from novice to veteran traders. It’s useful for beginners to follow the live market commentary from Ross to grasp a better understanding of the basics. Every morning a watch list is posted at 9:00 am, then at 12pm he provides a mid-day recap followed by a short Q&A session so everyone is up to speed. Due to the amount of activity in the chat room, there a dozen moderators to help deal with the volume of questions. The most asked questions are always related to finding the best broker. FYI the top 3 penny stock brokers recommended are normally TradeZero, SpeedTrader and Interactive Brokers.
The most important topics thought to new members are risk management, stock selection, chart patterns and Level 2. Risk management is the sole reason 90% of traders blow up their accounts, never place a trade unless the setup offers a favorable risk to reward ratio. Cameron reiterates a 2:1 profit loss ratio is key to success, in theory this sounds simple to adhere to but requires a lot of discipline. Once you understand risk management the next step is stock selection, it’s all about finding low float stocks between $1.50 to $10, moving 20-30% in a single day.
Ross compiles a list of 3-5 volatile stocks that he expects will be hot on a certain day, he uses a scanner from trade-ideas.com to discover these setups. This scanner is super expensive and monthly plans cost $188 per month. Most members are starting off with small accounts so they won’t be able to afford this. The final piece of the jigsaw is chart patterns, some of the breakout chart patterns they teach include bull flags, flat tops, flat bottoms, bear flags and ascending + descending wedges. In addition, they also sell advanced online training classes to those more serious about investing in their education. Warrior Pro costs $4,299 and the exclusive Inner Circle fee is $9,997 per year.
Is Warrior Trading a Scam?
Calling Warrior Trading a scam is inaccurate but is a well-oiled marketing machine run by Ross whose main goal is to make money. The whole concept of quitting your job and having the freedom to travel the world by trading on your laptop by a beach is a major selling point in their sales pages. I can’t seem to escape his advertisements, Facebook ads promoting free e-books + pre-recorded webinars follow me around on every page I visit and for some strange reason, his YouTube videos appear in my recommended video list quite frequently. He must spend a fortune on paid ads, web designers and copywriters to achieve so much coverage.
Also, I don’t really like the way he implements high-pressure sales tactics to persuade people to join his webinars that show how he made $100,000 in 45 days, they create a false sense of scarcity by claiming there are only limited places left when in reality unlimited spots are available. It’s obviously a clever tactic used by other guru’s like Jason Bond and Investors Underground to increase revenue. Motivating customers to take action instantly before the opportunity is removed is not illegal but kind of sketchy. Another thing I noticed is Ross has a good understanding of how to rank websites on Google and owns multiple small websites to outrank webpages who talk negatively about his brand.
Despite all the controversial claims and click-bait headlines, Ross has posted proof on his blog to verify profits for 2016 and 2017. Even though he is fully transparent and publicly shows his trades, haters will always doubt his success and want more proof. Haters dislike the fact how much he makes selling high-priced products.
Due to his success, Ross has had thousands of customers so it’s unlikely he’s able to please everyone. He can’t reply to every email as there are only 24 hours in a day. Just because he receives a few complaints it does not make him a scam but you should definitely take heed of the criticisms. Luckily there are websites such as Trust Pilot and Investimonials where customers leave reviews. Always be skeptical of overly positive reviews. It’s common for gurus to encourage members to give away free bonuses and trials in return for a testimonial. Also, rivals and haters like to leave bad ratings to damage his reputation purely out of jealousy.
Ross Cameron vs Tim Sykes
Both guys have made millions selling courses and have proved they are profitable traders so they decided to monetize their knowledge. It’s easier and less risky to make millions selling subscriptions than it is trading penny stocks. Tim Sykes was the original pioneer of selling products such as DVD’s and a chat room for penny stocks, his marketing and lavish lifestyle did not go unnoticed, Bloomberg even labelled him a “millionaire douche bag”. On the other hand, Ross is a chilled, laid-back person who doesn’t drive around in a Lamborghini. He markets himself as an average Joe which appeals to more people. Clearly he’s an intelligent person so his results won’t be easy to copy.
Tim Sykes served as a big inspiration for Cameron. He realized there are millions to be made as an entrepreneur and copied their business models. If you look at both their websites, they are quite similar with banner ads of recent trading results, case studies of successful students and pop ups asking your email address. Once you leave their websites their remarketing ads follow you around until you give up and finally join.
They both also cherry-pick successful students and heavily promote them. It would make no sense to profile members losing money. These testimonials are supposed to inspire new students but lead to new subscribers joining with unrealistic expectations. Most sign up thinking they can just copy their alerts and make easy profits. They don’t realize penny stocks are volatile so you won’t receive the same entry and exit points. The problem is the majority of subscribers don’t possess the required traits to succeed and aren’t willing to put in the effort to become a consistently profitable trader. If you fail it’s entirely your own fault!