Warrior Trading 100k Challenge Review
Table of Contents
Starting in January 2017 Ross Cameron, founder of Warrior Trading, challenged himself by trading with a small account. He would start 2017 with $583.15 and planned to spend 2017 growing it to $100k.
I believe Ross Cameron at Warrior Trading is the first trader I am aware of who had challenged himself to turn $500 +/- into $100k. Talk about putting your money where your mouth is. The “challenge” was to accomplish this task in three months, which is a gargantuan task in itself.
How Did 100k Warrior Trading Challenge Start?
Ross’s intention was to prove that success in day trading is not about having a lot of money, but having the proper mental focus, training, and strategies. His plan was to do mid-day recap on every day of the challenge.
These mid-day recaps were live streaming events on Facebook Live, as well as to his YouTube Channel. He had also written a blog and posted on a daily basis to trace his journey from $583.15 to $100k. He also wanted transparency and uploaded his broker statements at the end of each month of his Warrior trading $100k challenge.
Some of the rules, goals, and strategies of Warrior trading $100k challenge are listed below:
Rules
- Limit of no more than 5 trades per day, focusing on 2-3 trades first 30 minutes of trading;
- Have a max daily loss of -$100, and a daily profit target of +$200. In each trade taken, risk ratio (2:1) or $100 to make $200;
- Pay the full brokerage price of $4.95 per trade and ECN fees.
Goals
- Use a strong momentum trading strategy;
- Hit $100k as fast as possible;
- Use a lot of small wins for a few weeks to build up the account;
- Stay focused.
Strategy
- Capture around $0.20 of the upside per trade;
- Institute hard stops stock position drops by $0.10;
- Each trade taken must risk $100 to make $200;
- Capitalize on the opportunities during the opening range;
- Deal in volume, and rely on momentum to quickly scalp breakouts before other traders;
- Use hotkeys to get in and out of positions quickly, and be disciplined;
- Manage risk effectively to minimize potential/ actual losses.
The linear flow of 100k Warrior Trading Challenge
The recaps that Ross Cameron utilized for his 2017 Warrior Trading 100K Challenge were informative and clearly defined his strategy in every one presented. His recaps provided an in-depth analysis by Ross Cameron on his initial strategies to build up his account to reach an equity position.
His Warrior Trading 100K challenge recaps can be best split into three months. The first month is best described as his build-up to equity and $10k mark by finishing out January so that he could trade larger volumes.
The second month spelled some doom for him on his quest to 100K in the Warrior Trading 100k Challenge. He started his month out with a loss of 6k but quickly gained momentum. On February 2nd he had his best trading day in February; he made $14,800 and ended the month by gaining between 60K to 69K.
The last month of his Warrior Trading 100K challenge in the recap focused on honing his strategies to reach the 100K mark and was more aggressive in his trades and involved more risk. He finished out the month of March having accomplished his goal within the first six days at 100K.
Lessons learned after 100k Trading Challenge
In the world of day trading, you often hear the words “guru”, “mentor”, or “expert” and hear so many claims of success. Time has shown that eventually, those same individuals will eventually have to put their money where their proverbial mouth is.
The Warrior Trading 100K Challenge was the first of its kind as a demonstration to the masses who would like to enter the world of day trading but need to know what successful mentorship and strategies look like.
To the potential day traders, the Warrior Trading 100K Challenge is simply a declaration by Warrior Trading that they have proven what others are only still talking about.
