In the first chapter he pulls no punches. Here are four key points he makes in the soon to be released How to Day Trade: The Plain Truth.
1. Ross Cameron won’t try to convince you — but you may be convinced anyway.
On the very first page, Cameron declares, “I will not try to convince you that day-trading is your ticket to great wealth. In fact, if your personality and circumstances are not suited to day-trading, I’ll convince you to stay away from it, thus saving you all kinds of time, money, and frustration.” Cameron adds that his book isn’t “a thinly disguised sales pitch to get you into ever-more-expensive training and coaching programs.
“I will never tell you I’ve ‘cracked the code’ and have the only true system for making day trading ‘easy.’ Quite the opposite. I’ll describe how very hard it is to become a good day trader. You’ll see from my audited brokerage statements how I’ve become reasonably good at it, but also how I’m far from perfect.” Cameron says that readers of his new book will discover that he’s developed one approach to trading and that he makes no claims of superiority over other strategies. “Other traders may teach very different strategies from mine. That’s fine — there is no single solution to most challenges in life, and day-trading is no different,” he writes.
2. Ross Cameron provides valuable lessons.
That’s why this new book is so valuable to genuine day traders who want to really understand what they may be getting themselves into. It’s not a glossy account from someone trying to suck you into the trading vortex. Instead, it’s aimed at helping people understand — and prepare themselves — for the life of a day trader. “I wrote this book to bring real-world clarity to that sensationalized reputation surrounding day-trading,” notes Ross Cameron, adding that at social gatherings, he’s always nervous when he’s asked that casual icebreaker question: What do you do for a living?
“I dread when people ask me that, because if I choose to tell them I’m a day trader, I can count on a strong reaction. Usually not an enthusiastic, positive one. After all, if you follow the financial markets and media at all, you can’t help but hear about a few so- called day traders who decided to dabble in some hot stock and soon are bragging on social media about how they’re up a million dollars and will be retiring before the age of 30.” Or, writes Cameron, people asking the question might have heard of some guy who made some money on a tip, felt like he now had a hot hand, and sunk his savings into a stock. The guy had been assured by social media and TV loudmouths that this stock was the “next Tesla” and it would be “going places” very soon.
“Except with no strategy for managing risk, when the stock reversed, his account followed, and he became another statistic of a failed trader,” Cameron explains. “Some people experience big winners on beginner’s luck, and others lose it all in risky gambles. A few professional traders survive the ups and downs of the market and maintain long track records of consistency. For them, it’s an uphill battle to explain how professional day trading bears little resemblance to public opinion.”
3. Ross Cameron’s bluntness is exactly what prospective traders need.
Readers of the new book will see a Cameron who’s very blunt about day-trading. “Day-trading is like a magnet that strongly attracts some people and strongly repels others. The problem is that it often attracts the wrong people, and drives away other folks who might be great at it, if they only knew the facts,” he writes, pointing out that the goal of his book is to fix that unhappy trend.
“I will blow up the many myths and misconceptions that form a hard shell around day- trading. It’s difficult to think of other professions that are as misunderstood.” Another spoiler alert for the book, from the author: “You’ll not get any ‘magic keys’ to day-trading in this book, or ‘secrets that the big guys don’t want you to know.’ That’s the clickbait that attracts the wrong crowd.”
4. Ross Cameron paints a realistic picture of day-trading.
In truth, the book paints a realistic picture of what day trading actually is — and what it isn’t — all from the perspective of someone who doesn’t seem to be afraid to show the reader the good, the bad, and the ugly of his world. And for those serious about becoming day traders, Cameron’s book provides a genuine sense of what it’s like to sit at a computer and trade stocks as a professional, but also how to do it as a beginner.
“You will get a clear sense of whether this profession is a good fit with your personality or not,” writes Cameron in his introduction, adding that his aim is to provide “a detailed and realistic step-by-step path of how you could dip your toe into this business, and then maybe your foot.”
There’s the wrong way to get started that causes most people to fail, and then there is at least one right way, Cameron shares, pledging to “cover them both” in his book. In How to Day Trade: The Plain Truth, Ross Cameron covers the ground that people serious about day-trading need to cover. He explains the markets and how they move.
He details the gear you need to trade — including accounts, hardware, software, and research portals. And perhaps most importantly, he covers the psychology of being a trader — how to prepare yourself for the big highs and lows, and how to become a disciplined professional. You can find Ross Cameron’s book at online retailers and warriortrading.com. The e-book is $9.95, the paperback is $18.95, and the hardcover is $24.95.
The information provided in this article, including in the book How to Day Trade: The Plain Truth, is for educational and informational purposes only and should not be construed as financial advice. Day-trading involves a significant risk of loss and is not suitable for all investors. Readers should consider their financial situation, objectives, and risk tolerance before engaging in day-trading. Past performance is not indicative of future results. It is recommended to consult with a qualified financial advisor before making any investment decisions.
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