Day 12 of My New Small Account Challenge | Recap by Ross Cameron transcript

what's up everyone all right well today is day 12 of the small account challenge and i'm up 24.80 that's it one trade i didn't see anything else that looked good i just couldn't get i just couldn't get in the group today and in my main account i was read on the day so that's an indicator probably just the choppiness of the market so i think it was the right approach not to take any more trades today so i i would have allowed myself two trades but i didn't see a second one that looked good so one trade a small green day it's better than a red day but you know it's really really nothing much and it wasn't a very good trade i'll break it down during the recap and as always in case you didn't already know trading is risky most beginner traders lose money so you should assume that you lose money with that in mind trading a simulator before you put real money online all right trade cautiously i'll see you guys first thing tomorrow morning for day 13.

[Music] all right everyone so today is day 12 i believe of the small count challenge and uh yeah day 12. and i'm sitting up 24.80 and i'm not going to keep trading today you know unfortunately we didn't have a great gap scanner today infi float was too high grvi this was okay but it was quite choppy and i didn't trade it very well i traded it in my main account i didn't trust it in a small account i made 10 000 and lost 15 so i'm down 5 on it uh btbt is a crypto bitcoin sympathy stock i didn't want to trade that sprt i thought maybe if it got over eight um or over nine broke a v break a v but couldn't do it most of the move on this has been after hours and during regular trading it's been tricky i'm not sure why um and so anyways really didn't have a whole lot that looked great um flgc hitting the scanners and you know i was kind of looking at that one earlier but volume was very light and didn't end up really making much of a move at the time but it is an all-time high sort of setup so these ones can open up a bit but the float's 35 million shares so um but then of course the one i traded um was not a very good trade at all as xc someone posted in the chat room asxc news 9 a.m and i was looking for news at 9 00 am i was hoping we would have some headline at 9am that would give a nice trade and so i uh pulled it up and i saw that he had just spiked from 220 250 and i was like okay here we go we've got news on it and so i typed in the symbol so i i typed it in and punched the buy button bought it 2.45 and i bought let's see so 2 480 shares which was basically the biggest position i could take with 95 90 buying power and uh you know it popped up there to 2 79 and i stopped out when it came back down at uh 246. made 24.80 one penny per share exactly one penny it's just lame uh it ended up curling back up a little bit towards um at the open and throughout the morning but uh yeah so that was it and at that point i was just like you know what i shouldn't have taken the trade because what i neglected to do was check the float normally when a stock is hitting my scanners it'll show the float now this one wasn't hitting my scans and i thought well maybe that's because the way my settings are too tight it's just missing the scan and that sometimes happens but i jumped into it and then i realized after the fact um i so i type in the symbol here 80xc or asas xc and i check the float 232 million shares that's a large cap it's not a small cap in terms of the price or in terms of the float and that was a mistake i shouldn't have taken that trade and i ended up bailing on it so you know large float more stocks with larger floats um you know whether it's a mid cap or large cap this is probably it's not really a true small cap with a float that big even though the price is low they can be tricky and you have those algos that are on those types of stocks much more than on large cap than on true small caps with floats of under 10 or 15 million shares and you know you get that sort of algo spike on news it pops up and then immediately reverses that's so common and that was a trade that i jumped in too quickly too aggressively and i'm lucky it wasn't a 2 300 loss because it easily could have been so that was a mistake and i was kind of a little desperate for a trade i really wanted to get a trade and um i should just i should just sat on the sidelines and waited and if i had done that i probably wouldn't wouldn't have ended up taking any trades today and that would have been better than one bad trade so that's day 12 not really a great day there but uh we'll live to trade another day and we'll be back at it first thing tomorrow something i i was struggling with a little bit with some of these like flgc and also um gr vi a little bit and definitely sprt is you know they're still a little on the expensive side you know in a stock like this given that my account balance right now is like seven thousand two hundred dollars i can't buy even a thousand shares of a stock at nine dollars so i'm looking at seven eight hundred shares and i'm asking myself man 7 800 shares you know i mean i i don't know if i'm even gonna make 20 20 cents on it is it really worth it to take that one trade on something that i don't even know that i'm gonna get 20 cents on it it's like 150 160 bucks so that's part of my calculation right now that will be less of a factor as the account grows but and then that was you know the other reason i was so aggressive on asxc i was like it's the right price it's the right price for a small account this this thing could could move and you know that over um overtook my kind of due diligence and it resulted in a pretty pretty silly trade so that's day 12 in the books uh one trade one entry one exit and i'll be back at tomorrow for day 13. 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 [Music] you