In New Book, Warrior Trading Creator Reveals What It Takes To Be a Day Trader 


It’s a profession surrounded by a lot of hype. On the one hand, people tell stories of instant success, making tens of thousands — if not millions — of dollars off a single trade. Yet on the other hand are stories of complete failure — people being ruined by the promise of a quick buck. So what does it truly take to be a day trader? In his new book, Warrior Trading’s Ross Cameron reveals all. 

In How to Day Trade: The Plain Truth, Cameron doesn’t sugarcoat day-trading. He tells it like it is. In doing so, his aim isn’t to amass followers or converts to his chosen profession. Instead, he tries to steer people away — at least those who might not be a good fit to become a day trader. Because the simple fact is, according to the Warrior Trading founder, that day-trading isn’t for everyone. And he’d rather people find that out before losing their shirts. 

But for those truly suited to day-trading — and who have the drive and tenacity to do it — Ross Cameron provides a very clear road map for becoming a day trader. 

First Learn — Then Learn Some More 

Very few people are successful day traders by simply opening a trading account and jumping straight in. If they are successful with their first few trades, it’s not a pattern that’s likely to continue unless they spend some serious time learning the ropes — and that’s not something that can be done overnight. 

“Let’s assume you’re willing to learn,” wrote Warrior Trading’s leader in his book. “It’s not like school, where you might pull an all-nighter and pass the test.” 

In order to be successful in this “real-life school”, Cameron said you’ve got to first learn a lot of concepts: “That takes work but is straightforward.” 

The basic concepts are the types of instruments you can trade and how they work, how to use a trading platform, how to manage a trading account, and how to read charts, to name just a few. 

Next, you’ll need to understand how to manage your risk. “This involves a set of principles that you’ll apply in different situations,” wrote Cameron — like when to sell even if you think a stock will still go up. When to persevere and when to acknowledge your losses

Warrior Trading Founder Recommends Practicing in a Simulator 

If you’re smart, says the owner of Warrior Trading, you won’t risk a dime in the early days. Instead, you’ll “see how good you are in a simulator before trading in a real money account,” Cameron advised. 

Market simulators are virtual stock markets that emulate the true behaviors of the markets. 

“Maybe you’ll be amazing at first, or awful; the market will quickly let you know,” Cameron explained. “A trading simulator is like the driving instructor, making sure you don’t get wrecked.” 

In a simulator, you can figure out what you’re doing wrong, fix it, and try more simulator action, Cameron shared. Only when you’re consistently doing “at least OK” should a budding trader even think about using real money. 

“No matter how good you were in the simulator, you’ll discover that trading with real money is different, so there’ll be an adjustment phase,” the Warrior Trading  founder advised. 

Start Small, Then Grow Your Account as Your Skills Grow 

Trading in a $500 account is like driving your first car, Ross Cameron opined. 

“You’ll make beginner mistakes, but the damage is minimal in a small account. Spend all the time you need in that safe environment where the stakes are low. Once you’ve proven consistency, confidence will follow. That’s when it’s time to scale up to a larger account.” 

The key is not to jump in at the deep end, Cameron recommended. Instead, he advised a slow and incremental build of knowledge and experience. 

Ross Cameron: Day-Trading Is a Psychological Battle 

Once you understand the basic concepts and have gained some experience, that’s only just the beginning. Then the real test starts. Day-trading can be an emotional roller coaster of highs when you’re doing well and the lowest of lows when you lose money or get stuck in a grind. That’s why Cameron encourages new traders to really get to know themselves and have the presence of mind to understand their reactions to the various things that will happen to them in the course of day trading. 

“I don’t want to be overly dramatic when I say that a battle will soon happen between your ears if you choose to day-trade,” wrote Warrior Trading’s Ross Cameron. “On the one hand, you’re not going into real combat. But what I see too often on social media is a casual approach to day-trading, as if it’s a hobby like gardening.” 

In particular, Cameron said the skill to take losses and not allow them to cause you to lose focus is an act of mindfulness. 

“In our popular culture, mindfulness is usually confused with meditation, but they are not the same. Mindfulness has nothing to do with sitting in a certain pose, with your eyes closed in a calm setting, holding your fingers in a certain way,” Cameron shared. “You can be mindful while running flat out, or while intently looking at your stock-trading screens. Mindfulness is a way of stepping back mentally, and observing what your own brain is doing at the moment.” 

Human emotions often work against traders while they’re in the thick of a trade, said the founder of Warrior Trading

“The emotions of fear and greed are present in every trader, including me. The very best traders can experience those emotions without acting on them. When you allow your emotions to overtake your rational thought process, you risk over-trading, exposing yourself to unnecessary risk and excessive losses,” he wrote. 

So, what does it take to be a day trader, according to Ross Cameron in his book How to Day Trade: The Plain Truth? A lot of learning, a lot of practice, and the ability to take a good look at yourself and control your emotions. 

Disclosure: This is sponsored content. The sponsorship may include, but is not limited to, payment for article placement to the publication, compensation to the writer for their time, or other arrangements. 


The content of this article is for informational and educational purposes only and should not be construed as financial advice or as a guarantee of success in day trading or any other form of investment. 

Day trading involves substantial risks, including the potential for significant losses. Results can vary greatly, and past performance is not indicative of future outcomes. Readers are encouraged to conduct their own research and to consult with a qualified financial professional before making any investment decisions. 

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