Day 1 of My New Small Account Challenge | Recap by Ross Cameron

[Music] what's up everyone all right so today is day one of my small account challenge and yes i'm in a bus i traded in a bus this morning this is my traveling trading station i've got this little table here i've got my one laptop two monitors i was set up even broadcasting and streaming from the bus so i'm trading on the road and i'm gonna go as far as this 150 foot ethernet cable will take me that's right i'm hardwired i tried trading in the bus yesterday and um as it turns out i don't know this metal bus doesn't um get very good wi-fi signal and even though it was good enough to trade it wasn't really strong enough to run my broadcast so i decided not to trade yesterday uh in the small account and today is day one now uh i hope you are subscribed to the channel and i hope you hit the thumbs up because what i'm gonna do for this small account recap uh for for the entire small account challenge i'm gonna do quick recaps quick breakdown of the trades i take so you guys can go through day one two three four five six seven eight nine ten and just quickly watch those recaps as the account grows and of course there'll be some dips but as it you know as i make progress now i'm doing this challenge because you guys said hey ross i want to see you do another small account challenge but this time i don't want you to use any leverage so i said all right i'll give it a shot so with 4 316 in the account today is day one of trading with no leverage but i want you guys to know that my results are not typical they're not going to be typical of a beginner trader because i've been doing this for a long time you guys thought that you could learn something by watching me do a small account challenge i'm happy to do it but i want you to understand that trading is risky most traders lose money so before you put real money on the line you better make sure you know what you're doing and you can know that by practicing in a simulator practice in a simulator real-time market data you can practice side by side with me if you'd like a lot of our students have access to the simulator that we provide them so you're welcome to do that but don't put real money into the market until you know what you're doing all right so with that said i want to cover uh two other important things number two the profit from this small account challenge whatever i make uh between now and and the last day of the challenge that number i'm going to donate to charity and my goal is to hit 25 000 you want to know why because when i hit 25 000 and i donate that 25 000 to charity it's gonna put me over one million dollars in charitable donations today i'm at 975 000 and i would love to cross the million dollar mark kind of is part of the end of this small account challenge so that is something to get excited about that's coming soon and number three before we get into the recap today all about the micro pullback and so what i just actually put together a micro pullback strategy pdf that you can download click that link right down there and download it you can download it you can save it and it's going to walk you through a bunch of examples of micro pullbacks what i like about them when i take them when i don't take them i'm going to show it to you on this trade i took today which was a nice one 636 dollars of profit even on a small position of just 200 shares so a small position got some nice profit one trade one trade a day is a small account way that's what i'm gonna be doing during this challenge now i was tempted to go back for a second trade today and i suppose if i had i probably would have made a little bit more money but uh but that's okay i think the most important thing is being disciplined with a small account and just taking one trade a day so i will use most likely the full amount the 4 000 well whatever the the balance is in the account i'll probably use about that whole amount for one trade so i'll get in and then i'll get out now remember if i take a trade with four thousand dollars it doesn't mean i'm really risking 4 000 because i'm not going to hold my stock until it goes to zero if it goes down 10 i'll sell for a loss which means on the 4 000 trade i'm really only risking perhaps 400 which is still 10 in my account but just so you understand how i'm managing risk so my goal is to grow the account uh pretty consistently but to not take any big losses i don't want to lose more than 10 in one day that's for sure that's gonna be a hard stop all right so with that let's get into day one recap of the small account challenge if you haven't already subscribe to the channel hit that subscribe button and make your way through the small account challenge from day one two three four five six seven eight nine ten all the way up until he hit twenty five thousand all right thank you guys for tuning in this is a lot of fun thank you for asking me to do it uh getting me kind of pumped up and motivated i'm excited i hope you enjoy it hit that thumbs up and enjoy the weekend all right everyone so let's get into that recap we're gonna break down the trades from day one of the small account challenge uh no leverage so again just to reiterate starting balance today four thousand three hundred sixteen dollars and six cents total profit before fees and commissions six hundred thirty six dollars approximate fees which are two dollars per ticket uh one buy order in one sell order that's gonna be four dollars plus i have an ecn fee on the four dollar 400 shares i traded ecn fees are calculated at .0039 so 400 times .0039 is going to be approximately a dollar and fifty six cents so plus four and then um six thirty six so i'm gonna be sitting at about 630 dollars which is a good day now you know the interesting thing today is and i had said this yesterday as well i was like i don't really want to trade higher price stocks in the small account challenge the higher price stocks are just they're not really my favorite for trading in a small account i really don't want to take 100 200 share trades and yet at 906 there was um a news headline posted and let's see it said volume move in regards to being mentioned as a short squeeze play cln that was it 906 and i pulled up clnn and uh you can see here 5.7 million shares of volume or 5.87 million shares of volume today the price is 13.94 what was the gap coming into the morning so the gap on this was relative volume 157 percent which is huge um change from the close well i guess right now it's five percent because it's still updating oh sorry the gap there is thirty percent um so gapping up thirty percent so anyways i pulled up the stock and i was like okay i see it and i had already looked at osat which was our leading gapper today up 84 i did end up trading osat in my main account today but i'll do a recap for that separately works i traded works in my main account as well although this is a lower price stock pre-market and kind of as we were getting towards the open i didn't really think it looked that great so i wasn't really i wasn't really that into it i just kind of felt like this is a one of those continuation ones and at this point it's already kind of pulling back here so the trades ended up being okay um as it squeezed up there but in any case i'd already looked at it wasn't too sure blin nine dollar stock had a big move but then was back below v wap i wasn't sure about that one either so pre-market i hadn't taken any trades yet and when i saw that news headline on clnn i looked at oops i looked at it and let's just back this up because what i want to show you is the micro pullback so what i'm going to do for the youtube recap here today uh i'm going to um give you guys the strategy download for the micro pullback warrior pro students you guys already have gone through the entire micro pullback chapter in the classes which um just for for reference for those maybe watching on uh youtube or on facebook whatever the case is um the small cap day trading course uh right now is sitting at let me just see how many slides we're at one thousand three hundred uh 39 slides uh and this is our 20 chapter class this is the the day trading the uh warrior pro day trading course not the small cap course i'm sorry not the starter course so this is in addition to the starter so anyways uh there's an entire section which is chapter 8 on momentum trading and in chapter 8 the micro pullback is its own chapter which we have maybe an hour and a half plus a bunch of live trading examples of but this the strategy pdf is going to be a concise breakdown of the micro pullback and and when i like it when i don't like it so make sure you guys on youtube click that download just just below for that so clnn um popped up here and when i first pulled it up at 906 this was 906 right here it was at like 15. and 20 cents and i was like okay um i i guess i see that it has all-time highs uh not too far away so that makes it a blue sky set up all-time highs around 1750. you have a pivot right here at 1648 and you've got another kind of pivot at 14 71. so i was like okay it's above this level um and it looks like there's another one right around here uh you know you could i could see how it has a history of putting in some big green candles here it had a move yesterday from 10 up to 13 it was continuing free market but initially i was like i don't know so i kind of mentioned it i was like yeah it looks interesting but i don't know 27 million share float let's see if more volume comes into it so then i look away i look back and it's at 16.50 and i was like wow that thing just popped up a full dollar a share so now let's zoom in on this right here so i want to get in on this candle so here it goes from 1525 up to 1550. nice 25 cents goes up to 15 uh let me just play this like this goes up to 15 60 15 80 15 90 16 16 30. hits a high of about 1644 and pulls back to 1599 and this is where i started looking at a possible micro pullback so i was watching it off of 16 16 support and it dips down it pops back up to 1644 and i was like oh boy okay this thing looks like it wants to go it's it looks like it wants to break and i thought if it breaks 1644 what's the first target well based on the daily chart and we go back here 1644 if we can break that level we're looking at that move up towards 1750 that's all-time highs if it breaks 1750 now we're in a blue sky setup and it's a somewhat recent ipo this isn't a stock that has trading activity back to like the 1970s or something like that the stock is only traded a little bit back in here and when you see this kind of price action it i don't know exactly if this was like an up list um i don't know the whole story but obviously volume came in sort of in december of 2020 and then a big day right there in february pull back another big day so former runner status uh blue sky setup and it's a micro pullback and at the time i kind of thought it was the most obvious setup given that the two other gappers above it osat works and and three blin we're not looking that great so when something hits my scanner meaning it's moving up quickly and or uh i see that there's a headline posted about it and this headline was a little bit funny it was maybe it's a short squeeze candidate what does that mean but in any case i pulled it up and it was moving so now i let it pull back again and my entry i said if this thing breaks over 644 645 i'm a buyer because this is a break of a flat top and micro pullback the flat top is 1644. so uh it was right there 1644. so what i was looking for was for it to break that level and all of a sudden it breaks and goes right to 1750. now that is a micro pullback you can see how it's uh it squeezes up then sideways consolidation then a pop through that level and then it goes up to 1880 it goes all the way up to 20 dollars it hit a high of 19.95 and i entered at 1646 so i bought as it was breaking that level just like i said i was going to for the break through that micro pullback top and then i took profit in 1964. i took profit uh i don't remember if it was as it started to pull back or as it was still going up now but in any case it was right in that area uh then i was looking at this and thinking okay this right here could be the next micro pullback right there 19 back up to 20. and had this been just a little bit stronger i think we would have gotten a breakthrough 20 this to me it looked right for that breakthrough 20 but it just couldn't do it so it came back up here to 1965 and then it couldn't break through 20 and it ended up pulling back from there and i think the reason probably is a combination of the fact that at that time we also had blin osat and works works ended up um as you can see here this is blind so works ended up popping up right at the open and osat ended up kind of retaking i think the position of being the uh the stock to watch as it started to curl right here at around 9 15. it's it kind of started to curl back up right underneath its pre-market high and so i think this the focus shifted back to this is the leading gapper with certainly a lower flow typically a float of under 10 million shares is one that would be more likely to watch so a lower float stock and so this one became the focus now uh just to show you another example ahpi uh ahpi right here this one also gave some nice micro pullbacks this stock squeezed from four all the way to over nine dollars which is impressive so micro pullback can be both on a one minute chart and on a 10 second micro time frame so let's look at some micro pullbacks on this okay so as i look at this i would say that this right in here looks like a fairly clean micro pullback right through here you can see how you've got a bit of a micro pullback it popped up and then right through here's micro pullback right underneath the high of day that's not bad it goes into a halt it resumes it drops that's a dip trade then it goes back up to the high this right here was a micro pullback right there at 738 for the break of 750 goes into a hall at 7 70. this right in here was a micro pullback you know the times i'm going to be more cautious trading micro pullbacks is as they get more and more extended because that can be when we start to see some false breakouts but you can see there was another one right here another one right back here and that was marking the high there of 19 of 9 30. so this one uh did give some has given some great opportunities in fact this one right here coincided with the first five minute candle making new high that would have been an entry at 804 which was right about uh we mark that at 804 right about there so then what you have is multi-time frame alignment when you have multi-time frame alignment of both a one minute and a five minute that's when i usually have the most confidence to be aggressive however on a stock that's moving quickly like ahpi and some of these earlier moves you don't have time to wait for a five minute setup and there are times where we'll see stocks even like osat where they just rip up and they don't give you that five minute pullback you never get a five minute setup and so if you don't take one minute micro pullbacks or even 10 second micro pullbacks you simply may not be able to take the trades which is okay as a beginner trader because micro pullbacks are for sure uh pretty aggressive and therefore fairly risky but at a certain point i think it makes sense to try to add that strategy in your tool belt because you know there's a micro pullback at 13 going into 1350 that's 50 cents now this is a micro pullback on a halt resumption that ended up being a false breakout and a rejection so micro pullbacks like i said that stocks are getting more extended can be a little bit riskier uh but there was there were a a bunch of them today so anyways i'll break them down a little bit more in the micro uh pullback strategy pdf that i'm putting up there for you guys and now let me just give you um because i know you guys are gonna be asking for it a little tour of um of the bus all right so let's see so i've got my camera set up um over here so cameras attached to the window right there and this is my traveling trading station this is the same trading station essentially that i've used um you know whenever i travel so whether it's in europe or around the united states wherever the case is i have my laptop and i have two usb monitors i actually have a spare one somewhere because i wasn't sure one of these was i thought was glitching out but these usb monitors are pretty awesome because they're like a quarter inch thick they're super skinny as you can see right there so you can pack two of them side by side and then lean them right up against the laptop and if you have tsa approved tsa pre-check then you don't even have to take this out of your backpack when you go through the airport you just pop this thing right in and and you're good to go which is pretty cool so this is the traveling trading station i kind of wanted to trade from the bus just to do something a little different um you know i guess at a certain point when you've been trading for long enough you feel like you have to keep it interesting so i was like all right why not this is this is fun i love the bus i love you know it's nice and bright but not too sunny because it's kind of overcast today but uh so if it's really sunny it might be hard to see the screen it's not too hot i've got a nice little breeze of course i can open this up here a little bit more so this just fell off i'm gonna have to put that back together but this spring loaded so there's a little nut that holds it on there so let me close that you know it's it's a 1961 bus what do you expect okay so there's a couple things that are a little loose horn still works that's good and i can you know like i said i can take this thing on the road will it start right now well so that's a great question um i don't know if it will i'm gonna pull it out of here let's see there it goes yeah [Music] so she's running and uh you take this thing all over the country but of course uh only as far as ethernet will take me because i i really although trading on wi-fi is okay for you know for my own trading for my own trading it's fine but if i'm going to run a broadcast and i'm going to try to upload videos to youtube i can't i i mean i could do that on wi-fi but if i'm going to try to run the broadcast it's going to start there's going to be start starting to be a latency issue so anyways um being hardwired makes a little bit better and honestly there's not really a lot of um good service right here in the driveway but hey who's that hello girl girl i'm over here hey girl and she loves it she says she gets to stay close to her dad and also be outside watching chipmunks at the same time so we're both living the dream all right well um i guess that's that's it for the recap so i'm gonna probably put the bus back in the garage and then i'll be back tomorrow and uh try again another you know another day two in the small account and the goal will be one trade one trade a day is a small account way get green shut it down now if i go red my max loss is ten percent of the account so that would be four hundred dollars based on the current account uh today the only problem is that's how i was basing my max loss when i was trading with leverage and my daily goal was also 10 which was 400 i don't know if i can get 10 without using leverage the thing is i think some days i might be able to so today for instance my one trade was 200 shares and i made 600 bucks if i could have bought a stock at four dollars i could have bought a full thousand shares and then with a thousand shares if i made 60 cents i'd be up 600. so you know a stock kind of like um not osat but sort of like ahpi i mean that that's the right type for trading a small account because the price is a little lower and you know you're getting these 50 60 70 squeezes and you're getting several of them look at it right now it's all it's coming back up to the high towards 928 so this one would have been great for small account i i just stuck with my rule of only taking one trade and and that may be a rule to rethink at some point just because um some days when the market's really hot you might have four or five really good opportunities and then another day when the market's cold you have zero so is it really smart to sell yourself short on the day when the market's hot i don't know i mean i i guess i feel like discipline is also really important when you've got a small account so for that reason um maybe it maybe it is smart just to take one trade even if the market's hot and just maintain that discipline and then you know once the account gets a little bit bigger maybe you could take a few more trades i don't know but i i think it's the right approach right now one trade a day and you know for traders that are trading um and have to wait you know two days for settlement you know if i take a four thousand dollar trade then i can't trade for two days i gotta wait for that trade to settle so you have to be really strategic it's gotta be like one really good trade a day um you know based on how you use your buying power etc so i don't know but i think for right now it's it's a good approach and i was kind of starting to feel a little bit of that urge to go back in hpi i was like let's see if i can be up a thousand dollars today and i was like no man i follow your rules follow your rules so that's it green day day one of the small account challenge no leverage 200 shares so 200 shares times 16 a share is you know about 3 600 bucks in the trade 3 hundred bucks so you know bought thirty seven hundred dollars were give or take worth of stock and then sold it for about a six hundred dollar profit so uh that that was a really nice trade i didn't expect it from that price but i kind of thought even if i just got you know 50 cents to a dollar with 200 shares it would be you know 100 bucks maybe 200 and that would be a good first day uh and i didn't see anything else that i thought looked better osat works blind i thought those ones were risky so anyways that's my recap for today it ran a little longer but for future recaps i'm going to try to keep them really quick so you guys watching down the road can just kind of blast through the small account challenge you know day one two three four five six seven eight nine ten the goal is to make generate 25 000 of uh total profit and then donate uh 25 000 to charity when i do that it's gonna put me over one million dollars in total uh charitable contributions donations so uh i want to cross that milestone at the end of this challenge and make it uh something to remember so that's the goal and i am 24 000 uh 300 of the way there give or take so i've got my work cut out for me but i'll be uh be working at it and i'll be back here first thing tomorrow trading in the bus uh for day two of the small town challenge all right see you guys then and that right there was an entire video with no ads i don't monetize my youtube channel with video ads which means you guys get to enjoy the content but do me a favor please hit that subscribe button and give me a thumbs up and let youtube know that this channel is the channel to watch if you want to learn about day trading

Channel: Warrior Trading

Views: 78,980

Rating: 4.9396925 out of 5

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: smUTLP5kV1Q

Length: 25min 20sec (1520 seconds)

Published: Tue Jul 13 2021