Prolific Traders is a course, created by Cameron Kelly, about teaching students how they can use Artificial Intelligence (Ai) tools to help them make money with day trading to the tune of $12k per month. Cameron’s program basically uses what he likes to call the “smart money system” in order to see consistent results.
Cameron also doesn’t just teach this stuff, he actually puts his money where his mouth is which right off the bat makes him different from other day traders who are selling courses like this.
What I would like to do in the next couple of minutes is answer a few questions that I often get about courses like this, give you a basic rundown of what day trading is all about, and help you decide for yourself if this course and day trading truly is something so want to get involved in.
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After all, what you don’t want to do is jump blindly into something with high hopes and dreams just to find out a year or two down the road that it wasn’t all that it was cracked up to be, because those glares from friends and relatives at family reunions can cut pretty deep and make you want to crawl into a hole waiting until the doomsday meteor hits.
So, is day trading really for you?
That’s what we’re going to be talking about in this Prolific Traders review.
But before we get too deep in the weeds about Cameron Kelly’s course, let’s take a look at a few things about Day Trading.
What Is Day Trading All About?
Day trading is a type of investing strategy where your goal is to try to buy and sell securities for a profit, but the trick is doing this all in one day. The idea is to spot minor fluctuations in the marketplace and try to capitalize on them. So, you’ll need to have a good understanding of how the markets work and use them to your advantage.
Most of this involves trading financial instruments like:
- Stocks
- Options
- Futures
… but it’s not necessarily limited to just these three.
Now, unlike long-term investments, day traders will typically close all their trades at the end of the day so they can avoid any risks of loss by holding them overnight.
What Are The 4 Day Trading Strategies?
Next, let’s take a look at the more common strategies that Day Traders use…
- Scalping: This one is most common and involves making multiple small traders based on minor changes in prices with the goal of these trades accumulating to a big pay off at the end of the day.
- Range Trading: Range trading (aka Swing Trading) involves trading within the price range that a particular stock or option is known to change
- News-based Trading: Traders often use this strategy in order to profit from the market volatility that comes from positive or negative news, a company’s earnings releases or data dumps.
- High-Frequency Trading (HFT): This approach used software and algorithms to make many minor trades all at the same time very quickly.
Why Is Day Trading So Controversial?
For the most part, day trading is considered by most in the field to be too risky of an investment even though there is the possibility of making money fast. But with all the fast money comes the inevitable loss of money (ie, easy come… easy go).
Those who shy away from day trading do so because they consider it more like gambling rather than a sound investment strategy over the long-haul. They also don’t consider day trading to be a better performer especially when considering fees and taxes.
What Are The Risks?
At this point, you’re probably wondering about the actual risks involved, so here are a few…
- Financial Loss: Day traders will typically lose more money than the average trader, especially early on.
- Stress: This is not something you can set-and-forget – it involves constant monitoring and making quick decisions.
- Leverage: Some day traders will actually use borrowed money (think loan sharks) to make multiple trades, which if they lose will have a much larger impact on their losses.
How Do You Get Started?
If I haven’t scared you off from the idea of day trading, then you might want to consider the following if this is the route you want to go…
- Get Educated: Learn about the financial markets, different strategies, and how to read charts and graphs.
- Create A Trading Account: You’ll need to create an account that caters to day trading with low fees, a platform that’s reliable, and good customer support.
- Start Small: Start with a small amount of money that you can afford to lose while you’re learning the ropes.
- Decide On A Plan: Come up with a solid entry and exit plan and don’t let emotions get in the way.
- Be Disciplined: Be strict with your risk management and take advantage of stop-loss orders.
Now that we have a good idea about Day Trading, let’s take a closer look at Cameron Kelly’s program…
What Is Prolific Traders?
In Cameron’s course he basically teaches 3 main tactics…
Support and Resistance Levels: Cameron teaches you to use Ai tools to find the points where the markets shift. You can set up alerts to tell you when to enter trades.
Touch, Confirm, Enter: This is based on candlestick patterns. Touch identifies a change in a trend… Confirm notices an upward trend… Enter is the huge jump in the trend and is where you get in.
Exit Strategy: This is a significantly large charge where you should get out.
Who Is Cameron Kelly?
Cameron Kelly is a six-figure trader and coach with a background in dropshipping and affiliate marketing but neither of these panned out the way he had hoped.
His trading journey started one day, while working his 9-5, when he met up with a Wall Street intern which led to him making $3,000 in just one day on the S&P 500 Index.
It didn’t take long after this for Cameron to see the light and switch careers.
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What Do You Get In His Course?
Inside the course, you’ll get the following:
- Training: 55 video beginner friendly, top tier lessons about trading and market psychology.
- Personal Mentorship: 1-on-1 coaching with Cameron and his team
- Lessons: You’ll learn the basics of creating, testing and building out your trading plans
- Smart Money: Cameron teach how to use Ai for automating your trades
- Coaching Calls: You get access to 2 live mastermind calls with Cameron every week
How Much Does Prolific Traders Cost?
I couldn’t find the cost of the course listed on Cameron’s website, but there is a survey you’ll need to take as well as booking a call to learn more.
What Is My #1 Pick For Making Money In 2024?
Personally, I would have to say that Day Trading business model is much too risky for my taste. I’m not much of a daredevil, and all the stress and sleepless nights involved can subtract a lot of years from the end of your life.
Trust me I’ve been there.
Which is why I prefer something much more safe and predictable, Digital Leasing.
Basically Digital Leasing is the process of setting up multiple digital assets for small businesses to help them make more money, while you get a small fee for your trouble.
The beauty of this is that once you have your assets set up and clients in place, it’s pretty 100% hands off.
So, no need to constantly watch those charts and graphs or worry about loan sharks coming after you to collect.
If you’d like to learn more about why Digital Leasing is my #1 pick, just click the button below.
