CamTheMan’s $5M profits now verified by Business Insider

[themickey]

If you are a profitable day trader making millions, that activity requires a huge amount of energy.

Ask yourself, why then run another side business hussle running a web site along with social media promoting yourself?

If you strike a gold mine, does one then set up a carnival in the centre of Kalgoorlie?
Of course you do, its called a snake oil circus.

 

[newwurldmn]

cause he needs more buying power

You seriously think that would be an economically rational reason in this case?

 

[themickey]

We've seen this movie before in politics, the more succesful you are the greater the social media circus you wish to create.

 

[themickey]

Fooled by smoke and mirrors.
Not surprised any longer.

 

[deaddog]

businessinsider editors are idiots though.

I don’t understand why anyone whose earning a lot in the markets would spend their time running an educational service. There are far more lucrative options if you have the means for those same hours.

I don't understand why a lot of people do what they do.

Here's a possibility. The guy loves what he is doing. He eats, sleeps, breaths the markets. People keep asking him how he does it. For whatever reason he is willing to share. (Not every one is). To weed out those who are trolling you charge a nominal fee.

If you can trust the magazine he has proven he's capable of trading. Everyone has a different reason for doing what they do. I'll give the guy the benefit of the doubt.

 

[Pekelo]

For whatever reason he is willing to share.

If he does stocks, getting more people doing the same AFTER he already got in position is strengthening his position. Is he already long of X? Bunch of more people coming in using his advice and buying X up pushing the price up. Same with being short.

That is why HF managers advertise their position AFTER they already took it. They need to convince the sheeple to come in and move the stock the way they want it. Now this guy even makes some extra money while doing that? Smart dude, after all, you can be wrong in the market, but subscription fees are forever!!!

 

[guru]

I suspect that top traders know and feel how difficult it is to sustain super-high returns over many years, and that this will end or have down periods. While they’re also seeing that the other Cameron (Ross Cameron of Warrior Trading) makes $10M-$20M/year selling courses while making $1M from trading, and actually hired other people to run his educational business so he doesn’t even have to do much. A company making $10M-$20M/year may be worth 10x more, so $100M. That’s a viable business, despite being shoddy and shady in case of Ross Cameron where his own winnings aren’t that huge and capacity is limited. CamTheMan may even try to copy Ross in terms of educational business for the lack of better ideas outside of trading.
And I’m really not sure what other businesses the top traders could start to make more money or invest their money. Trading education is like investing or buying a business for free, because you provide all the products.
While trading on your own or running a hedge fund is more stressful, unpredictable and has limited capacity.

 

[newwurldmn]

If he does stocks, getting more people doing the same AFTER he already got in position is strengthening his position. Is he already long of X? Bunch of more people coming in using his advice and buying X up pushing the price up. Same with being short.

That is why HF managers advertise their position AFTER they already took it. They need to convince the sheeple to come in and move the stock the way they want it. Now this guy even makes some extra money while doing that? Smart dude, after all, you can be wrong in the market, but subscription fees are forever!!!

there have been studies to show that when HF managers reveal their positions they are really looking for liquidity to reduce their holdings.

 

[guru]

WTF they write that he's a momentum trader but he buys the dip? That is just called buy the fucking dip because Fed put is free money

I was discussing this topic with another trader in the past, and it really looks like buying dips/pullbacks is the same strategy as momentum strategy, because dips should be bought mainly on stocks with positive momentum. A dip without momentum isn't a dip.
Interestingly, there may be a difference in stops: because buying dips means doing opposite from people who just got stopped out and sold at a loss. So basically in the "buy the dip strategy" the theory is that you're buying dips from "losers" who are stupid enough to use stops and sell on dips Even though both variants may be trading momentum.

 

[qlai]

If you are earning millions/year trading, why would you try to start an education company for hundreds of thousands (and i'm being generous in the income he can earn from the education company)?

I don’t know of any trader that started educational business after making millions(except retired ones). The ones I know of started education business before they started making millions. And those millions are very recent mostly due to the volatility we have been experiencing. I am not saying they are legit, just saying that if you look at their progression it makes sense. But, since I am in one of such chat rooms, I often wander myself - why the hell is this guy still running it?! I would not want to deal with people and get on the mic everyday. Maybe it keeps them grounded?