Challenge Complete: Small Account Day Trading $4.3k to $30k in 45 days

all right good morning everyone well it's been a while how's everyone doing so it's a little after 9 a.m and i wanted to tune in here today for day 45 of the small account challenge uh you can see the account uh right now i've already taken uh one trade which was on wimmy w-i-m-i and i think today maybe the day that i cross over thirty thousand dollars we'll see i'm still about 600 away from that level so i'll show you my account balance right now so started this morning with 27 607.13 and with the eighteen hundred sitting at about twenty nine thousand four hundred seventy eight dollars and three cents so i started this small account challenge 45 trading days ago um with about four thousand three hundred dollars so if i can cross over 30 000 that'll be uh well that's my goal so i set that goal and the plan is uh to then donate 25 000 which is essentially the the profit since i started with 4 300 so i'll donate um 30 000 minus 4 300 and that is going to put me over 1 million dollars in charitable donations which i'd be really excited to do today we'll see whether or not that happens so for this uh exciting day 45 of the small account challenge i thought i would stream on youtube and get folks excited because this is something that i've been really looking forward to so if it doesn't happen today well we'll try again tomorrow i might not make another 600 today and so then i'll try again tomorrow for those tuning in perhaps for the first time i'm going to put up my disclaimer as a reminder in case you didn't already know that trading is risky most beginner traders lose money and so you should assume as a beginner trader you would lose money as well and with that assumption in mind trade in a simulator before you put real money on the line my results are not typical so you shouldn't try to blindly follow me or anyone else yesterday we had a great day uh trading hlbz we had news on that at 8 30 a partnership with um uh amazon so that was news posted at 8 30 yesterday and this one squeezed uh promptly from about 14 all the way up to 36 a share the power of news headlines we're partnering with these big companies this is can be pretty big and then uh just last night after hours mrin partnership with google and this stock which i didn't trade goes from 565 all the way up to 10 49. so for those tuning in on youtube for the first time hit the thumbs up please and um maybe share the video with a couple of friends i'm going to roll our intro and then we're going to get started breaking down the watch list for today [Music] all right let's see i'm going to let's see i'm going to copy this and move this to a different um feed i'm going to put this right over here i'll put it up at the very top so just as a reminder youtube delays live broadcasts they're pretty darn close to live but there is an inherent delay it could be it's usually like 10 seconds sometimes for some people depending on where you are it could be 20 30 40 seconds so just be mindful of that uh for those that are in our chat room we use ultra low latency streaming servers we spend a lot of money on those so you guys have very very low latency depending on where you're logging in from again all right so let's see um all right so my routine every morning starts about the same way for those that haven't already checked out my video on trading gappers we can post that uh maybe in the comments and pin that to the comments so each day i start by looking at our gap scanner leading gapper this morning is mrin this is the stock that has news of a partnership with google this is a good uh it's a revenue share agreement with google it's a good agreement uh and the the stock has responded pretty favorably to that however at this point uh one of the things that i struggle with a little bit is feeling that i already missed the big move you know the big move was when it squeezed from six bucks to ten dollars now it's consolidating sideways and ultimately is is range bound it's range bound because it's not making new highs it's below the pre-market high of 11 16. it's above the pre-market lows so it's in range and so for that reason i'm just kind of leaving it alone for the time being but i would say that if it broke over 11 16 i'd be interested so i could uh sort of anticipate if it got up towards 11 75 11 85 11 95 10 10 75 1085 1095 up towards 11 that there'd be a higher likelihood that it'll break through 11 and so on and so forth but for um for right now i'm gonna leave this alone so that's mrin our leading gapper the float is 15 million shares it's got 15 million shares of volume so it's got a lot of volume here which is good but right now the chart is not really moving enough it's not going parabolic i think i missed the big move okay so that's mrin aemd is our second leading gapper in the entire market it's up only 34 so this is a much lower gapper relatively uh speaking at least pre-market high is 5 50. uh well this one i don't see news on it doesn't necessarily mean there isn't news but my news feed is not showing anything so i'm going to leave that one alone for right now if it broke the pre-market high i'd be more interested 550 p-o-a-i this one's up nineteen percent it's a one dollar and sixteen cent stock so it's a cheaper one price uh uh float is uh three point seven million shares 2.64 million shares of volume pre-market pre-market high is up here around pre-market highs at this point not very interested in that i usually don't trade i don't trade stocks below a dollar i don't trade penny stocks and a stock this cheap i usually wouldn't be very interested in although i will say that in the small account one of the nice things on a stock of that price range is that um let me type in p-o-a-i and i'll press shift three so i could buy like 18 000 shares of it right that's just using 90 that's using 90 of my buying power so potentially a trade like that um you know could become a big winner because of how many shares i can buy but i just generally don't trust these lower price stocks so i'm going to leave that one alone all right so that's poai ontx 15 million share float this one also popped up pretty nicely let's see squeeze from five up to 640 but is pulled back right now is below the volume weighted average price i was having a little bit of an internet issue the other day and i noticed i had a little bit of a just like a little bit of a lag here today as well so i'm not sure exactly what's causing that but hopefully it doesn't continue mrin yup it's curling up a bit so i'm going to remove all my drawing tools on the daily chart and break this down a little bit so the high was way up here at 27 26 so that's a ways off next level is 1055 and then 1198 and then 1246 then a little bit of gap fill so just kind of looking at the highs of these candles to see where we might see resistance and then nice big gap up there and then if we pull the chart out even further you can see that this stock has all-time highs weight around 140. so i don't know it it's not a very strong chart compared to something like hlbz you might think well this stocks this chart's not strong you've got those big red candles that's true now because of that red candle but on the other hand it's at all time highs so we usually like the all-time highs set up quite a bit blue sky is what i call that no upside resistance and mrin does not have that so i'm a little hesitant in fact i kind of would look at this as probably having resistance up around this level here descending resistance however it is the leading gapper so there will be a lot of people that are probably watching it but i don't know that that one's the right one for me some folks have mentioned a daily setup on jcs but this one's gapping up um really only like four four five percent it's not a very big gapper and the volume is light but again on this one you can see how 1145 was the high of that red candle and then beyond that looks like all-time highs are around 24. it's also not a recent ipo this chart goes all the way back to 1982. xpof i just saw that move up the scanner this is a looks like a bit of a more recent ipo stock so you never know with stocks like these um but i don't see that it has any significant volume at the moment and probably more importantly i don't see a catalyst to justify why it's moving up so i saw it move up the gap scanner it is up 12.8 percent but crtd is up a little bit as well we've got about 10 minutes to the bell the opening bell so the survey there what's the hardest thing about trading for you finding stocks managing risk managing emotions decisions or finding a strategy and managing emotions and decisions is coming in at the top well that doesn't surprise me too much this has been a year where we've seen so much uh kind of parabolic momentum stocks like gamestop i think that that no doubt has created a fair amount of fomo among traders it created fomo in me i fall victim to it as well so one of the big challenges is not over trading and not getting in way way way way too high and so many traders fall into that habit uh let's see where is it this is the um this is this is how i think we all feel sometimes and unfortunately the market has a way of making us feel really really stupid and how did i possibly make uh such a silly mistake so i've uh been there and i made a pretty um pretty bad trade on uh zevo let's see this was two days ago where i traded it um early and i was up 17 000 and even though i identified the devil horns right here indicating this stock might be preparing to ruin my day i proceeded to go ahead and take this trade uh it was right around right around here and i proceeded to lose about 35 000 on it as it dropped back down so you know you can have all the red flags waving in your face and then still take the trade and i think that that um that is fomo that's the definition of fomo the fear of missing out if you're missing an opportunity so um you know it's uh it's one of those things that you see on on wall street bets as well you know traders who you know were up 2 million 3 million 4 million dollars didn't take profit why green profit it's not enough they're looking for more and then it comes back down and i mean we've seen the stories so for me i i've i haven't gotten any yolo trades i haven't gotten any single trade that gave me a million dollar winner i don't think that that's i mean it might happen but i think that's extremely unlikely because that's not how i trade so it for me trading is just about you know base hit after base hit small base hit small base hit and sometimes trading can feel sort of boring and i think that that means you've brought the emotions down quite a bit so my metrics here you know and you have to take these with a grain of salt because my results are not typical but this is based on over 16 000 trades it took 16 000 trades for me to make 9.5 million in gross profit 16 000 trades you know years i don't make i'm not gonna you know put it all into gamestop and make nine million dollars in two weeks that's a lottery ticket i would love for that to happen but it's never gonna happen and the only way it would happen is if i took an obscene uh you know degenerate level of risk and just can't do that so it's about small base hits average winners being sixteen hundred dollars here's an eighteen hundred dollar winner right there but as you can see over [Music] long periods of time if you can maintain good decision making which is easier said than done you know that's that i think that that's what you want to be focusing on the big picture hi alex good morning so we've got about five minutes to the bell here and um i was hoping that perhaps we would see something let's see a bit more exciting i thought maybe we'd see a news headline at 9 9am so yep small account to answer that question after today's profits is at twenty nine thousand four hundred seventy eight dollars and three cents goal is thirty thousand so about six hundred dollars shy of the goal that would be one uh trade potentially but have to focus on finding good trade so mrin resistance at this yellow descending resistance line all right so a watch list there um someone mentioning ar qqq let me look at that one so the float on arqq is a bit higher 110 million shares it did make a big move yesterday but is a bit of a higher float ater curling back up room on the daily back to 16 68 which would be the high of this candle right here and then back to 1910 a bit of a flat top pattern ater oops so a stock like this at this price range i can't take too many shares of which is sometimes a challenge about two minutes to the bell so the flat top breakout pattern is a gap and go entry this is a bit of a meme stock which is a little tricky uh i don't see that it has specific news which is also a little tricky so one of the problems with uh meme stocks is that because you have people that were buying them you know as it was kind of squeezing up here from 8 to 16. some of those traders are still holding it hlbz is their news on it so this one um i don't see any fresh news and the volume is is very light but um if there was a headline that would be different i would be looking for the breaking news headline we had breaking news on it yesterday but anyways yeah from 26-27 so when you have stocks like ater you have some uh bag holders some traders that are still holding it from 17 18. and some of them are going to put orders to just get out break even and so that creates upside resistance as they come back up unfortunately um so for that reason i'm having a little bit of a hard time wanting to be a buyer here because i'm afraid that we'll run into resistance levels so there's the open with some sellers at night at uh in the 90s 95 10 000 share seller so nice gap and go there through 1468 up to 1527 no trades on it for me mrin dipping down a little bit not able to break through that descending resistance line sava not interested in that right now 1668 is your level on ater but you can see mrin pulling back a decent amount so that's that chop at the open where it pops up and then pulls back not able to hold the level ater has a high of 15 27. wimmy from the breaking news at 8 30. still just hanging out here floats a little higher dicb on the halt scan i see that this is one that has no news i'm sure the volume is very light so really preferring news or obvious momentum one or the other still early here at 9 33 nice on wimmy squeezing up a bit more i don't want to chase that up here though i've only taken one trade in the small account on which was on wimmy keep it on watch but right now waiting ater from 1527 back down wimmy up to 30 29 nice good to see hlbz popped up just a little bit but 28.50 was the level that really probably needed to break that was the pre-market high seems like a pretty quiet open so far aside from uh the 1468 to 1520 flat top breakout on wimmy which was a gap and go setup have that been lower priced i probably would have taken it but in the big account uh in the small account i really 1500 shares just not a very big position so kind of just felt like uh better to wait and focus on something that has more momentum not sure about this one let me check the float grom 11 million share float so i see it but i don't see news on it it's below its moving averages i don't see a 200 which means it's a somewhat recent ipo dvax um check the float on that floats high at 90 million ensc check that one so no news on it looks like a continuation a little bit from the previous day um if it broke over 440 445 that would look better but currently is a gap down yesterday it went from 453 dollars to 455 but wow look at that range on ater that's kind of stressful all the way down to 1428 then back up to 1550. no trades on it for me neither in the big account nor the small account ontx 15 million share flow but it's below v web volume weighted average price arq the 100 million share flow is giving me cause to wait mrin nope that's no good discb i didn't check the volume on it it's higher priced and only has 16 000 shares of volume with no news so this is a stock that has a history of making these kinds of low volume moves but uh with very light volume and big spread right now the spread is 63 by 67 that's a four point spread so can't manage risk on that so ater green on the five when you have something that's had this much range i always am cautious buying it up at these highs because it could just flush right back down maybe it doesn't but it's too risky i went tx hitting the scans broke over v pre-market high is 654. arq making another one of those kind of straight straight up squeezes into a circuit breaker halt at 3302 no trades on that for me dvax 33 is a pretty high entry if you're in at 33 that's high of day on a 110 million share float so right now managing emotions and managing decisions it's not super hard for me to not jump on anything when nothing looks good sometimes we can convince ourselves that something looks good when it really doesn't but while arq chart looked okay the volume was light yesterday it was choppy as well where it popped up and then had these big red candles and the floats you know 100 10 million shares so i didn't trust that one uh ater the meme stock factor made me a little nervous so left that one alone i think that was the right move so right now it's if i see something i i mean i i know when i see something it looks good and i don't hesitate i just i'll jump in it so if i'm hesitating it means there's something that's i'm not feeling something's not feeling quite right maybe it's the volume maybe it's the float maybe it's the lack of a news catalyst wimmy the only one i traded and i traded that earlier nice pattern but it was a red uh rejection off that candle double top now here 34 back down to 406 so that of course would make me cautious buying up here because then i'd be thinking well what if it drops back to 406. spir yesterday's candle was a pretty big topping tail so if you're hesitating too much if you if you're seeing good setups and you're just letting them pass you by again and again and again that's likely a fear of losing money you're afraid of loss and so your fear of losing money is stronger and as a result you're just not taking the trade at all the in my experience the best way to break through that is to reduce share size and start pulling the trigger that way you're just getting you're throwing yourself in there but with smaller share size the losses are are much lower if you lose and the profits are smaller too but it just brings everything down brings the emotions down so then you can start focusing on doing what you need to do which is finding good trades confidence follows consistency right once you start getting more consistent you start getting more confident then you start taking bigger share size it's a sort of positive feedback cycle but you can't start that positive feedback cycle if you're afraid of even taking trades which is why many people will build confidence by trading in the simulator because at least there you don't have to worry at all about losing real money you could just really practice trading just for the sake of practicing oh and in that way it's more of a game or a puzzle the reward is not monetary in that moment i suppose but it's the knowledge that you're building a track record we've been in a little bit of a market where um it's kind of been like hit or miss where like yesterday we had that you know really huge uh move on hlbz and then that was like the main stock that was strong so um today we don't really have like a really really strong one we don't have a really really obvious one hey happy birthday ryan uh september 22nd so yeah we just don't really have a super super strong one today the leading gap or mrin has been weak that sets the tone a little bit aemd second leading gapper also not that strong poai so you know it just kind of um becomes a certain point that unless something starts to pop up and become obvious traders just keep sitting and waiting but eventually people get up and leave and they say i'm sick of waiting so if we don't see anything until two or three in the afternoon by that time the number of people that are still sitting and waiting is much smaller than between nine and ten or nine and eleven so even if you do start to get some momentum it's usually not going to be as strong arq popped up there to a high of 3440 but then back to 3302 on the bid holding up technically it's a one minute micro pullback right now back over 34 would be what you would want to see but i would be selling into a move like that 35 on the ask big spreads 50 cent spreads so if nothing looks good how long will i typically wait before i kind of just lose focus or give up typically if i don't take any trades between 9 30 and 10 i'll just stop at 10 i'll say all right you know i i sat here for 30 minutes and nothing nothing looked good i'm just going to call it a day so usually i'll wait half an hour after my last trade and if i don't see anything else then that's when i just say ah enough's enough try again tomorrow sometimes i'll hang around longer but i don't really you know if i'm going to have a good day it starts strong if i'm going to have a bad day it starts kind of slow and then just gets worse what i don't love about ontx is that it's below the 200 moving average yes live classes today at 12 pm eastern for warrior pro students so that's a false breakout there arq has a topping tail candle on the one minute and it's red nice job david hosting a p l of 566 dollars arq going a bit higher up to 36. see how the way this candle changes right now it's topping tail now it's a really big topping tail almost a shooting star so when you've got such big spreads the moment to moment the candle could change significantly and all of a sudden you're like whoa am i long this stock that has a topping tail shooting star on the five minute this is a terrible entry so you don't want to get too sucked into the one-minute chart to lose sight of whether or not it's extended so for whatever reason today has been a bit slower was hoping after that first trade on with me that i'd get a couple more trades and cross through that 30 000 mark and well i guess it just hasn't happened yeah maybe wednesdays and thursdays have been pretty good days for me but i am looking forward to finishing up the small account and it's not to say i won't do another small account challenge uh because i'm sure i will but it'd be nice to just focus on one account for a little bit trying to trade two accounts at once is not easy so a ater because it has this topping tail on the last five and then the bottoming tail it's just got this range that i think would probably make any trader a little bit nervous i would say that if this double tops at 50 and then consolidates under this level level format after that looks like the only halts have been kind of lower volume or higher price dicb arqq yes class at 12 noon for warrior pro students we're going to do a class on drawing ascending and descending resistance lines and breaking down daily charts so it'll be a technical analysis chapter yes it will be recorded i'll do class in the uh warrior pro mentor room i think i think uh jess will be finishing his q a at uh 12 so that'll that'll work fine arq keeps going higher the high there is um 36.42 but on a stock like this in the small account let's see i could buy 679 shares you know so i would need a full dollar a share to get a 600 winner and after that topping tail red candle on high volume seems that would be a little risky but the blue sky setup is i think the the best thing that this one has going for it and i guess the question is is that stronger um than the fact that the float is 110 million shares i don't know it's got a high there of 38. so we'll see how it holds up actually gonna draw so it's actually running like right into resistance right here if that's a valid line so your high there was 38.39 sorry george yeah best to take the day off then stuff so aemd this one has a pre-market high of about 550. the floats 15 million shares the level 2 seems a little stacked up the five minute chart is a little extended so it would need a five minute pullback but it could be worth watching mrin so selling off pretty hard a possible bounce would be 843 the 200 moving average you know that's a possible spot but so it's a little bit it's a little ways down i'm not usually a buyer right here because if i bought for a reversal trade right here for instance uh what i would have a problem with is the fact that it's gonna probably have resistance at nine coming back up it's probably enough resistance at like 95 96 97 98 because traders are going to feel very nervous about buying for the break over a whole dollar so that doesn't leave me a lot of profit if i could get in at around 8.50 that would be buying off of the whole dollar and getting back up to 875 or 880 shouldn't be a problem so i'd be much more likely to be a buyer around 850 especially given the 200 moving average than right here at 875. so i would say possibly at 8.50 i'd be a buyer or in the 850 area 860. so this right here is a bear flag but we'll see and they may not find support at the 200 moving average it may just go right through it uh aemd holding up ater super choppy and ar qq is also holding up so it's kind of in between these levels the high being 38.39 the low of this pullback down here being the 35 63. crvs setting up possibly a red to green move that one um it's a bit of a meme stock as we know although i see a pretty clear level at about nine dollars on this if he could break through nine then i would look at yesterday's high which is 9 54. so yeah there could be something there but the charts not super clean so mrin selling off a bit more usually for reversal i would like to see peaking volume at the low because that creates the volume bottom it's not doing that so that makes it harder to get that snap off the low for a pop back up to get a nice snap and a pop usually we need a volume bottom small accounts start with about four thousand three hundred dollars so it wasn't the smallest account challenge i've ever done but yeah about four thousand three hundred arq 37.49 but you've got that topping tail up there and big spreads 50 cent spreads drma halted so the first thing i see on this is that it's a blue sky setup the all-time high is 650. float 1.7 million shares halted on a circuit breaker there was some news initiating coverage the 14 price target so on this one i suppose you've got um kind of one issue which is that the volume is a little light that therefore creates bigger spreads you do have news on it this morning which is good uh the resum the halt time was at 1001 and 17 seconds so resumption would be 1006 in 17 seconds halted at 569 and we would really want to see it break 650. so you know on something like that you never know you could end up getting in in this area and 575 six dollars and it goes to six it gets halted again and then you're looking at a blue sky set up kind of like arq and then more traders as more volume starts to come in more traders see it and more traders realize hey wait this actually does have some news today maybe it's not the best news we've ever seen but it is news nonetheless so yeah um then the question is do you get in early like on the first halt resumption or do you wait for it to prove itself with lighter volume it's probably safer to wait for it to prove itself but if it starts to if it resumes high and continues then i probably i'd consider being a buyer over six dollars with the first target being that it just breaks through six and goes up to like 625 650 or something like that then if it holds that level i could look for trades for the break of 650 which would be a blue sky setup so i'll put an order on this um let's see i'll watch it on resumption we'll see where it resumes i'll put the order at six dollars and 25 cents and then i can always be a buyer a little earlier but just see so quick starter there 75 and then i'll add over six so looking for my ad at six there's a seller and i'm going to look for that seller to break and then i'm going to add so watching the seller at six to come down next halt level 629 so holding right now at 75 with the order at six dollars to add this is a micro pullback here i'm about break even on it but i'm looking for the breakthrough six and then 625 given that it's a blue sky setup so let's watch for it to come up to six dollars again watching for my ad adding right there now looking for the breakthrough six so we're looking for six dollars then 610 there's 91 on the ask i want to see 95 96 97 and that quick break through six dollars there's six on the ask holding 2500 shares can we get the break through six so see how it's struggling a little bit there because it's struggling i'm taking my profit and putting a new order at 6 10 to add back if it can break six then i'll add back on the break of six orders at 6 10. watching now up here added 607 now looking for 6 15. so once it breaks through that level now i try to look for that move up to 615 625 so let's see if we get the break of 625 holding 639 shares right now took a little profit off the table new order is 6.25 so watching up here for the next trade it's gotta hold over six dollars hi this candle is 6 13. watching the blue sky setup on the daily we know is 6.50 hi this candle 613. so i'm going to let it form a one-minute pullback and we'll see if we get another trade on it so all right well 724 let's see that's going to put me um just over thirty thousand dollars the small account current equity thirty thousand two hundred and two dollars and ninety one cents ten thousand share bid on uh drma so maybe what i'll do now if i take more trades on it i'll just trade in the big account put my order at 6 15. that way i don't give back the profit in the small account i haven't taken any trades in the big account so far today so we'll see what this does here about 1.1 million shares of volume now this one's on our hi-demomo scanner seems like there's a seller at six maybe a hidden seller but over six uh 607 608 i'd consider another trade you know it opened it 75.80 squeezed up i got in and took the profit out and added back i thought it was going to retest at least 650. i'm kind of surprised it didn't but maybe that speaks to the fact that today given the fact that mrin our leading gapper has failed that traders are just not interested in taking too much risk so um nice bounce on mrin and drma halted up at 570 bought resumption 575 added for the break of six and took profit on the break of six putting me up two thousand five hundred ninety five dollars on the day this through a five minute setup i'll watch uh for the main account but this is uh day forty five last day of the small account challenge as i cross uh 30 000 so i started with 4 300 in the account i traded for 45 days i did not use leverage on any of the trades i use i had i actually emailed the broker and asked them to take the leverage away so i couldn't use leverage so i traded with no leverage just the cash balance which means today i was able to trade with 27 600 because that was my starting balance today and i said that once i hit 30 000 i would donate the profit to charity so let's see approximately thirty thousand two hundred dollars minus forty three hundred is twenty five thousand nine hundred so we'll be donating that to charity um today i'll put it on my credit card arq this one you've got a double top there at 30. i like it but what i don't like about it are the big spreads that's what i don't like about it the spreads are big the volume has declined and a stock like drma really should have ripped on that setup that daily blue sky setup over 650 with the news catalyst it should have moved faster and should have moved more so given the fact that a lower price obvious setup like that didn't work as well as i wanted it to my expectations for a higher risk higher price setup with 110 million share float are very very low okay so um let's see so i'm going to start doing some donations here i'm going to donate 5 000 as a one-time donation to the berkshire humane society and let's see i'm just gonna move this over here all right so that's my info let me get out my credit card okay and then do my expiration okay all right so there's the first donation five thousand dollars and let's see i'm going to do 5 000 to volunteers in medicine which is um here in our local town so this one's going to want me to do it through paypal so i'll do five thousand dollars for them so these donations are gonna put me over one million dollars in charitable donations with a lot of that going to local organizations here in berkshire county massachusetts okay so there's five thousand dollars to volunteers in medicine all right i've got another one here gotta enter my credit card okay let's see if that one goes through okay this one's for um organization called berkshire agricultural ventures they support local uh farmers who then supply food to organizations like berkshire bounty so i'll donate another 5 000 over there berkshire bounty distributes food both from excess from the local farms but also uh donations and we have local food pantries where you can just basically go in and go shopping and then you don't pay anything so you just you can it's really pretty cool all right so that's 5 000 to um berkshire bounty so we've got 5 000 there's 10 there's 15 there's 20. and let's see all right one time donation all right let's see that's the country the united states there we go all right um let's see if this one goes through that one i'm not sure if that went through or not i'm gonna go check my card so i'm just going to donate um one other but just giving that a second arq rolling over a bit yeah i see that yeah that you know well it looked interesting but didn't want to overstay our welcome on that one okay let's see all right so and there's um boston uh children's hospital there so five thousand dollars and then let's see um i guess i've got another 900 to donate so i will donate let's see oh people's pantry that's a good one all right so i'll donate a thousand there all right so that will be 26 000 donated right there so turned forty three hundred dollars into thirty thousand dollars making about twenty six thousand in profit uh about a six was six hundred percent return something like that uh 4300 times six times seven so nice six seven hundred percent return there and happy to pay that forward as always my results are not typical you know i'm someone sitting down doing a small account challenge who's been trading for a really long time so this is not the typical result a beginner trader with a 4300 account should expect but i know that it's been helpful for you guys i've certainly seen it in the comments uh in the chat room every single day of trading well just about every day has been saved for live trading archives so we've had live trading archives that students are able to go and rewatch which i know is helpful because the way i make decisions and manage risk and manage emotions in this account is different from how i trade in the big account in the big account i can take a lot of risk i can be really aggressive and certainly when that pays off i can crush it and if it doesn't and i lose i can recover on monday i was down 30 000 in my main account on tuesday i recovered and finished up 55 000 so i can afford those types of swings in my main account i cannot afford those types of swings obviously in my small account so i have to be approaching the small account a little bit differently and when i began the challenge i approached it from the perspective of one trade a day one trade a day is the small account way and so i took one trade a day and um i did that every day until let's see i did that for i think it was the first 10 days one trade a day and then day uh 10 through 20 i would take about two trades a day and days 20 through 30 i started taking more trades and between 35 and 50 well today's day 45 i've just been actively trading so if today i only took a couple trades like three trades total i guess or maybe four i don't know but in any case only took a couple trades today on two stocks but some days i might uh during the challenge been more active when there were more opportunities or whatever the case was so i think that um a question that i was asked um recently was about scaling in and adding and i feel comfortable scaling in and adding i didn't do that as much in the small account as i did in the big account even during this challenge you know i i traded aggressively but i wasn't i wasn't crazy about um ad ad ad you know i had to manage risk and when you start adding you start throwing off your cost basis and you go from having potentially a great entry to by the time you've scaled up all of a sudden your entry is not so great anymore so and that happened to me yesterday on hlbz so the safer approach in a small account is really one entry and one exit and then you start taking one entry and scaling out in maybe one half and then another half and then you start taking one entry and you scale out a quarter and then another quarter another quarter so maybe you have five trades one entry and four exits and then you might have one entry four exits and then you add back there's a new setup that's formed a new one minute pullback and now essentially you're taking two trades so the brand new trade has to stand on its own and then out of that trade you might have that one entry and then another three exits and then again perhaps as you gain a bit more confidence and the stock continues stronger maybe you take a third trade but one entry one exit it's a great way to start and the right way to start is by trading in a simulator because if you can't make money in a simulator you can't trade with real money it just makes no sense so you start in a simulator you build a track record of success and you can look at your metrics from trading the simulator you can say okay you know these are the metrics of how i'm trading um let's see let me pull up my trader view stats and then when you get ready to flip the switch and go live start trading with real money then you have these metrics as kind of your benchmark of okay this is what i know i've done in the past this is what i know i'm capable of so all i have to do is stay focused on trading these setups and um you know not overstaying my welcome so this these are my metrics as of i don't know when the last time i imported was i'm going to have i don't even know if i've imported for any a couple days of september but that that's about it so that's fine whatever but that's what you want to do you build that track record first in the sim then you start trading with real money but with small size and then you start to increase share size as you gain confidence one of the goals for me for you guys for warrior pro students is not necessarily that any of you are going to make as much as me or become as successful as me i've been doing this for a long time but that through the classes you gain financial literacy you become better equipped to understand the mechanics of the market how it works and that knowledge is empowering you whether or not it's to actively day trade or perhaps to have a more active role in choosing a financial advisor and understanding what the heck they're saying when they're talking about investment strategy and stuff like that it's about that holistic better understanding of the financial markets and education that many of us did not get in high school or in college and so we kind of have to scrap information together from where we can and for some it's putting together videos on youtube which is all fine and great but for others it's wanting to learn from someone who's credible and who has proven that they are profitable and so i'm happy to be sharing with you my experiences trading to whatever extent that they do help you so that is day 45 some live trading and a recap in the books and um i thank you guys for tuning in there will be no recap for the main account today i didn't trade the main account this was just a small account day and i'm grateful to be green i just didn't see anything that um was strong enough i drma had it held that level of six uh 615 was the spot i was watching for the main account but and then that didn't end up happening arq i was tempted but uh i held off especially with that yellow resistance line up there and so yesterday this the main account was up 55 000. today zero no trades well let's see how i do tomorrow it only takes one good trade one good opportunity over trading is um something that a lot of beginner traders and even experienced traders fall into and uh it's it could be a a nasty habit so less is more get green get out if you do that you're doing something that the majority of people haven't figured out how to do successfully and in the market of trading active trading so it's about 10 30 here no more trades for the small account i'm not going to take my first trade in the big account at this time of day and i will be um back again soon i'll keep an eye on the the metrics of this video which is uh on youtube was a youtube live and uh if we see some good thumbs up on this video then maybe we'll consider putting scheduling some live morning content again uh this fall so i'll keep you guys posted on that we'll see how this video performs okay all right that's it for me thank you guys 10 30. i'm shutting it down i'll trade another day i'll be back at it tomorrow you

Channel: Warrior Trading

Views: 43,630

Keywords: day trading, day trading strategies, trading strategies, how to day trade, beginner trading strategies, momentum day trading, stocks, trading, how to trade, stock trading, penny stocks, pdt rule, shares, float, volume, candles, profits, Wall St, finance, brokers, Ross Cameron, warrior trading, day trade warrior

Id: poAsmyf-anw

Length: 84min 50sec (5090 seconds)

Published: Wed Sep 22 2021