How to Grow $1000 to $100,000 Day Trading in 2024 | 100x Strategy

the beautiful thing about trading is you do not need that much Capital at all to grow a small account and create a massive income machine for yourself I'm going to show you exactly how after 7 years of trading I would take a $1,000 account and grow it into a $100,000 account after this video you will know how and where to get a high leverage with a small account guidelines to follow so you can safely grow that account and not blow it up as well as a specific strategy that I've become consistently profitable using so you can go into every trading day with a plan to follow and not feel lost when you're trading now there are a lot of ways to get leverage when you're trading what I found to be the best over the years's trading is Futures currently if you trade the S&P 500 Index Futures you get around 450 times leverage so one es Futures Contract which is the s&p500 index takes about $500 worth of cash in your account to get control over and that contract value is at around $2,200 so if you held that contract and the S&P 500 Index went at 1% you would make $22,000 now that is an insane amount of Leverage for one contract and one account with that size and so what they've done is they've created the micro Futures which is just on10th of the size basically all you need is $50 in your account now to get control over one contract which gives you control over a tenth of that $2,200,000 so you can control over $22,000 now this is definitely a simplification of this you are technically using something called margin margin is just a trading term that basically just means collateral so again Futures give you massive leverage but if set up properly which I'm going to show you how to do you can keep your risk at around $20 per trade to calculate your risk per trade if we're looking at the micro S&P 500 futures which is technically called the mees you find the difference between the price you want to enter at and where you want to place your stop loss then multiply that by the value of either the share price if you're looking at shares or for futures the point value for micro Futures one point is worth $5 so if we're risking around four points then you're risking $20 for that trade so if you want to trade Futures the platform I use is called ninja Trader and I've actually created a really easy tool in ninja Trader to calculate your risk in real time for a quick example if you just take let's say we want to enter in for a buy right here as a long and you're just going to enter in here and put your stop loss below here all you do is just take this tool you say I'm going to enter there and I'm going to stop loss right here and it spits out that okay I need to trade two contracts or if I trade two contracts my risk if the trade goes all the way down and hits my stop loss I will lose around $20 so that is really important and helpful for entering in trades and keeping your risk because when it comes to account growth there are some really important rules that you need to follow if you want to grow your account properly and safely so when you first start out and you're getting used to trading and trading a strategy trade on a simulated account I know it's not glamorous you want to jump in and make money right away but give yourself time to get used to the strategy and then once you feel you have it down move on to a real money account mistakes in trading lose you money and so try and avoid that as much as possible because we all make mistakes when we're First Learning something so when you're starting out let's say you start with a $1,000 account I wouldn't risk more than 5% of the account value per trade this is plenty of risk to grow your account quickly when you're consistently making profitable trades or if you're struggling and you know still trying to figure it out which is totally normal it will not blow your account up too quickly either that's the biggest thing we're trying to prevent here is you blowing up your account and losing money and having to either reinvest or just give up on trading so now let me show you a strategy that you can use to start growing a small account today over time I realize the simpler the strategy the better and this strategy you can use on really any Market or time frame so it allows a lot of flexibility I personally focus on day trading on the S&P 500 futures using a one and a 15minute chart I have kind of a fstep entry process I follow for every trade and the first step of that is I like to look for key support and resistance level how I draw those is I actually look at a 15-minute chart and just look at the swings in the market where is the market making clean bounces off of on the upside and the downside and what I'll then do is I'll just say okay well the Market's clearly been bouncing off of here it's had two really clean touches right here and the same thing for the support level it has some clear bounces down here and so I'm just going to draw a support level off of that and so this gives you a really strong Foundation to an areas of value to look for as the market moves forward so when it comes to one of these levels again kind of like it is right here you can say okay we're at a resistance level that's more likely that the Market's going to potentially reverse off of that so then that's where the one minute chart comes in or the lower time frame chart if you choose something else is it gives you a more accurate entry because if you look at this well the market came up here and did bounce off of this really nicely this resistance level up here but on a 15minute chart there's not really much to go off of you know it just has kind of a couple candlesticks here and then it reverses really quickly and with a smaller time frame chart you could have a lot more information and make a good trading decision based on that and that's what we want to do every time is we want to have reasons to get in so you can consistently get in good trades every single time and so now I want to walk you through a real trade that I took on a small account using this strategy so you can see that you can take this exact strategy and apply it to a small account yourself so with these steps the next step is going to a smaller time frame and analyzing what the trend is doing as it comes up to our resistance level that we have up here and so what you can do with this strategy is you can bet that the Market's going to go up off of the support levels but you can also bet that it's going to go down off of resistance levels and so Step One is waiting for the market to come up to our resistance level but step two is analyzing the trend you can see I have an uptrend right here you see the market was clearly kind of just bouncing up here and you want to wait for that to break because this strategy is more of a reversal strategy you know you want to bet that the market is going to switch directions and so you need to make sure that that uptrend is broken so right here the market is clearly breaking below this uptrend and so that's step two that is the uptrend is broken because we want to confirm that before we jump into a trade and so the next step step three is confirming that that uptrend is starting to shift so in an uptrend you can see if you just look at kind of the swings the market if you're looking at the highs is making higher highs and the lows are getting higher and higher as well and so that's just kind of Basics into reading a trend and then if you look on a downtrend will the it's the opposite the highs are getting lower and the lows are getting lower and so there is an area where that shifts right here between uptrend making higher highs and then it making lower lows and lower highs and so that's you want to jump in right here when it starts to make that shift and so what that looks like is right now you can see this is making higher highs higher highs and then the idea is well if this is going to shift into a downtrend it needs to put in a lower high right here to kind of confirm that a lot of times this pattern can be called a head and shoulders pattern if you want to look that up that is just kind of basically as you have an extreme High here and then there's two lower highs on either side of it it's essentially this part of the uptrend basically shifting and so it's a good signal of when the uptrend is going to happen and so how I then confirm that and finally jump into the trade is seeing that this lower high is confirmed and how I confirm that is if you look at this big red candlestick here and reading into the candlesticks let's just look at what these you know five candlesticks say right here the Market's kind of going sideways and then it's going up those two big green candles signify the Market's going up and then that big red candle signifies that the Market's going down and so that's just zooming into the trend basically and then you have the more massive high right here this is essentially that and so that's a lower high potentially and so the idea is you know you have to take kind of a leap of faith when you jump into a trade and that's what you're doing here you're assuming that if jump in right here on a trade it might do this and so that's what this whole kind of checklist does is it makes things in your favor as much as possible and then so from there I just calculate okay if I enter in here once this Candlestick closes you want to wait for the Candlestick to close you can see down here there's 9 seconds remaining on the Candlestick closing and then I'm just going to put my stop loss I actually put my stop loss up here for this trade because you want to leave it at the swing High and the idea is that well I want to see this trade play out out and if it kind of moves around here well that's totally okay right we could still be making kind of a lower high here and then go lower and so you kind of want to get in let things play out and then let the signal come to fruition essentially you got to let things play out and give things wiggle room and so here I traded one micro feutures contract and so the risk here if you just take the difference between these two and multiply it by five the risk is about $43 and so I'm risking about $40 on this trade so it's not a super massive trade but for a small account it's a good siiz trade and then I'm just targeting kind of down here because my thought is well the Market's kind of gone up here and if it's going to reverse well it's going to go back down here and you also see there's another support level down here so it's likely that the market if it gets going it's going to move all the way lower and so here this is where the stop loss is extremely important CU you can see if I just skip forwards a little bit in this recording that the market kind of comes up against me a little a little bit here and I'm down money technically that's why it's important to have your stop- loss in a good area because just like I kind of talked about before is you can see the market kind of just moved around a little bit here and then you can see now it's getting going really nicely and so once it gets going I like to manage my trades kind of fluidly and so I actually move my stop loss to break even once the kind of Trades gone in my favor because I like to take risk off the table but when you're first starting out I definitely which we'll get into in a minute suggest having a more strict risk reward of going for two times your risk in profit so what I mean by that is if you risk let's say just $50 up here you're going to go for $100 down here that's a lot more simple managing trades takes a lot of experience and understanding of the market and so I would suggest kind of trying to stick for more something strict when you first start out here you can see because we're getting down lower to these support level down here and the Market's really moving Nic nicely I actually move my stop loss down pretty tight and get knocked out there but the trade went I think about two times two and a half times my risk and you see that was a really clean move and the market kind of started to actually bounce and find some support down there now going for a higher risk reward with trading is better because it allows you to be wrong more often and still be profitable in the long run just looking at this graph right here A 1 to1 risk reward ratio you only need to be right about 50% of the time but with like that last trade if you go for you know swings like I do with reversals you can go for 1 to 3 1 to four and you only need to be right 20 to 30% of the time to break even and start to make money now I quickly went over this trading strategy but if you want a more detailed deeper dive walk through of this trading strategy and checklist I use consistently to trade in the market check out this video right here

Channel: Riley Coleman

Views: 100,467

Keywords: live day trading futures, day trading strategies, futures trading, futures trading for beginners, futures trading strategies, trading strategies, trade ideas live, day trading live, stock market for beginners, price action trading, Price action trading strategy, price action trading system, price action trading live, price action trading for beginners, price action trading small account, trading price action, Trade ideas live, live day trading, scalping, scalping strategy

Id: 54VkJAXwomY

Length: 11min 56sec (716 seconds)

Published: Sat Oct 21 2023