How I'm Making $286/Day| Day Trading with $1,000 transcript

today is day two of my challenge to day trade with 1,000 bucks and in today's episode I'm going to walk you through why I chose $11,000 and how I'm able to day trade with such a small account on day one after a roller coaster of trading going from green to red and back to green I finished with about $412 but as I said I didn't know how much my fees and commissions would be until the end of the day so my fees and commissions were a little over $31 $ that means going into day two I am starting with $1,381 two now remember the broker that I'm using gives me six times leverage so the amount of buying power that I have is that $1300 * 6 which means today I can buy a little bit more stock than I was able to buy on day one all right so now let's look at my first trade for day two all right so Mullen just hit my scanner and this one is is one that was hot in the last couple days so I'm looking to see if I can get in this right away cuz it's got news I got a partial fill of 173 shares out of about 550 let's see I'm in at 10:30 and it went a little higher which is why I got a partial fill but now we're stalling out all right let's see if I can get out on the offer 1046 that'd be 16 cents no fill so far uh so this is a high day momentum scanner trade I'm bailing on it $466 in the red keeping the loss tight small loss you know that's a little frustrating but with stocks to hit the scanner and they have news you just never know so getting in with a tight stop and seeing if we can let it ride is great in this case it stalled out small loss that's all right that's trade number one I'm going to look for the next one and let's see what else we find so right there first trade trade of the day in the red but don't worry Here Comes trade number two okay so arbb uh this one halted up at the open so here here's what I'm looking at here this stock is strong it was on the high a day momentum scanner it was on the top Gainer scanner the problem is it's under $5 a share so I can't use my leverage I have $88,000 of buying power but only $1,300 of equity so that means I could buy 400 shares 4 * 3 is 12200 so I can buy about 400 shares of this which now that it's halted up tells me well it's got the potential so I'm going to look to do a dip and rip on resumption all right so orders at 305 hands on the buy button watching resumption showing 297 in right there 305 and out right there boom $584 that is a dip and rip on a resumption clean well that definitely felt like a victory but I'm I'm only up $12 on the day $11 on the day I'm not making a lot of progress but here's the thing that I'm reminding myself even these small baby steps are important if I can make even just $50 today hey 5 time 6 that's going to add that much more buying power that I'll have for tomorrow for day three so maybe today is not going to be a day where I have any big home runs but if I can catch a couple of small base hits and just add a little bit of progress to the account that's great ultimately anything I can do to avoid a draw down is important and adding a little bit of profit is good now for those of you joining for the first time I mentioned in the last episode that once we cross 10,000 new subscribers during this series I will reset my account back to 1,000 bucks I also said that once we cross 10,000 thumbs up on videos in this series you will help me unlock my newest piece of inventory so I can get rid of this old broken monitor here and so I can upgrade this old laptop all right so we're making progress slow and steady just like the small account Challenge and you can help by hitting the thumbs up and subscribing to this episode all right so that was trade one trade two now let's look at trade number three okay so M MOX halted here $ 859 is uh the resumption right now it was halted at 8:14 I'm watching this for a dip and rip same as arbb so looking for resumption just a moment of pause hesitation or pullback and then green on the tape I'm going to hit that buy button I'm going to look for a squeeze higher let's see what this does all right so I can use leverage on this and green on the tape there we go I'm in at 27 26 uh 39 is the halt up but 901 970 on the bit I'm taking it off the table okay so H 61 $1.50 puts me up$ 72 $73 on the day just a little quick scalp there so today the dip and rip on halt resumption paid that's not bad now that locked up day two but I did have fees and commissions so on day two I had about $18 of fees and commissions which meant after the $72 I I really only finished up about $54 so a pretty small green day in this episode you're going to see day three day four and day five but let's talk for a second about why I'm day trading with a 1,000 bucks what's the why all right let's jump onto the screen share here why bother day trading with $1,000 okay here's my wild crazy opinion I think everyone should try day trading with a th000 bucks at least everyone that is who is interested in actively day trading and this is for a couple reasons number one small accounts require not only require they force discipline if you cannot be disciplined with a small account it will blow up and it will be gone and that's it now what I love about trading in a small account is that if you make a aake and you blow up your account your account is disabled and you will not be able to trade in it until you deposit more money and that means you have a built-in resting period a cooling off period now some of you guys know my story but for me my turning point was a big red day that blew out my account so I couldn't trade in it until I added more money so I had it was actually like a week where I couldn't trade in it at all and that was the time I spent diving into my analytics looking at my metrics trying to figure out what I was doing right what I was doing wrong and that's when I made my discovery of the strategy that I actually was the most successful at but I hadn't realized it because it was buried under so many other trades I was taking at the same time had I been able to just continue trading you know what I would have done I would have gone onto a negative feedback loop a spiral a downward spiral where the more I would lose the more emotionally fueled I would get which would increase my share size which would mean my I would take even bigger losses and then my accuracy would go even lower and I would just go down and down and down I sometimes call it the Snowball Effect and for Traders who have been trading for a while you know exactly what I'm talking about how you can just spiral so the thing is if you have a 253 $40,000 account you could blow up the whole thing in one day spiraling now this can still happen with a small account but with a small account because it's a small account the total amount of damage is limited so my feeling is that you can reduce the damage the the potential damage and you can lower the stakes from making mistakes because mistakes will happen so another kind of analogy that I would say is uh I wouldn't let my son has a beginner driver well he's not a beginner driver yet but when he becomes a beginner driver I wouldn't let him drive a $250,000 sports car as his first car I'm going to assume that he will make mistakes because that's human we all make mistakes we make mistakes when we're learning to drive we make mistakes with a trading account so why not make this the the stakes lower why not let him drive in an old Volvo like what I had when I was getting started they're tough as can be you you Dent it so what it's no big deal so similarly with a trading account by trading in a small account you're going to make mistakes but the cost of those mistakes ultimately is lower and I think my overarching philosophy here is that if you can make it in a small account you can make it anywhere that's the old saying with New York if you can make it here you can make it anywhere and with a small account it really does show an incredible amount of discipline focus and resilience now I've done many small account challenges and I can tell you each time I have to put my best foot forward I have to bring my best to the table in order to do well it really requires that of you you do not have a lot of wiggle room I will say there are some things about this small account challenge that are especially challenging for instance the fact that the broker that I'm trading with doesn't allow margin on stocks under $5 that's that's limiting me and it is limiting me in a way that if I had a25 $330,000 account I certainly wouldn't be limited so there are some additional limitations with trading in a small account that's one of them a second one is that sometimes I've seen so far in this challenge that there are stocks between five and up that the broker is also just not allowing leverage on because they think they're too volatile and too risky so with only $1,000 I can't really make that much money I can't really trade them and as a result I'm sort of missing some of those opportunities so while that is true what that's also teaching and reinforcing is patience to be patient to wait for your setup and then when it comes to strike all right so now let's look at day three and my first trades from day three so on day three I'm beginning with $1,435 in my account the account's up 40% this is good and 1,400 * 6 my buying power is increasing okay so today with $ 9,745 in buying power I just locked up first trade $188.7 I forgot to press the record button before I took that trade that was a Flatt top breakout I was looking for the break through $8 you could see on the chart how we have support at around 720 this blue support level as we started to C curl over that level and through volume weight average price I jumped in right there now on this stock I do have leverage so I was able to take a bigger size which is great that's exactly what I wanted 1,000 shares so it was just under 1,000 shares I got a partial fill but got in with about 1,000 shares and got out so 18 cents a share of profit that's hey that's a great start I am happy with that so this stock is interesting to me and I think that we're going to see some more opportunities it's up 120% it is one of our leading gainers today so this I got to focus on and get dialed in and see if I can find a couple of more quick trades so I'm starting to get dialed in here for a trade over the break of 850 just a quick scalp around the half dollar and whole dollar all right so putting my order at hands on the buy button 500 shares uh yeah 5 600 yeah I want to keep it a little moderate here I don't want to go too too heavy not going to do a th000 shares uh just yet not yet I already got one good trade today I don't want to give it back I want to add a little profit without screwing up okay A little false breakout there off of 850 we've got a little shooting star candle forming okay so we're coming back up here and I've got my order still at 850 I'm going to put it for 500 shares scale down a little bit and I'm looking for a trade here for the Breakthrough 859 so I'm in here 500 shares at 825 down 40 bucks right now uh looking for the break through 859 let's see we've got 835 there I'm not loving this right now because I sort of think that should have gone right away I took 110 off the table uh let's see what this does and I'm out right there I sold on the offer uh so I'm up $214 56 added a little bit of profit on that trade 500 shares in and out I just got a little little gun shy a little nervous 859 now is feeling it's feeling a little heavy here on the one minute like we're getting a little extended so that's all right just going to keep chipping away small gains and now let's see if this bases out uh might get another trade for the break of all right so this is crazy that broke 850 with some Incredible strength and I have a little bit of fomo right now but I'm going to look for a dip here for the break over 12 so 250 shares reducing size let's see looking for green on the tape there's green on the level two in at 79 looking for the break over 12 okay uh put my sell order out didn't fill anything this is not not exactly I wanted to see this push right through I'm going to bail out here what is going on why is my order not filling come on all right so just gave back a 100 bucks on that why didn't my sell order fill at150 so following this trade I realized that I actually hadn't set up my hot Keys correctly and that's why I was getting this or this problem and I was getting it both when I was buying and when I was selling on some of the trades that I have already taken so far you might have noticed I was getting partial fills well it it also happened here on the exit so let me show you what what was happening all right so with my hot keys I can choose the way I have the settings um uh offset so the way I have it is I want to buy the as for a stock squeezing up and I want to sell the bid for a stock where I'm ready to take profit and bail out especially if it's dropping now I do try to sell on the ask so I do have a sell ask hotkey and on my sell ask hotkey I'm selling exactly on the ask price no offset just that's it but on the sell bid hotkey usually I have an offset of minus 10 cents I do 10 cents that way if the if the stock is currently at let's just say for example the stock is at150 my order is going to go through for 10 cents below the bid it's going to go 1140 and that means my order will most likely get filled I'll get filled at maybe 11:45 or 11:42 I won't get stuck so what just happened on that trade was I got stuck my order was sitting there at 1150 but because there was no offset it was pinned right at 1150 but the bid had dropped okay so what I ended up doing after this trade was I went in and I changed my hotkeys to add the 10cent offset that I normally use for the bid and to add a 10cent offset to the upside for the ask so if I want to buy on the ask my order by pressing shift one if the ask is currently 1180 the order will go for 1190 that's going to get give me a little bit more room to get in now as it's turned out so far the partial fills have actually saved me a little bit cuz I had a couple of Trades where if I'd filled the full order the loss would have been bigger but I think that's just the luck of the draw gen generally speaking I want to be able to fill my full order cuz I'm confident in the trade so I need to be a little careful and make sure I'm focusing on the best quality setups but these are the hot keys that I'm going to use okay so it's day three the middle of day three I realized my hot Keys weren't uh set up correctly so now let's look at the next trade for day three all right I just have to change my hotkey setting here okay so I got to go bid minus uh let's see bid minus uh where is it there it is okay okay bid minus 10 cents all right so I'm going to do- 10 cents and then that way when I sell it's going to go 10 cents below the bid okay all right so now that that's done I'm going to fix the other hotkeys okay so I'm putting my order here at 1121 for 250 shares looking for that squeeze back through that top orders at 71 I'm in right there at 1140 looking for the squeeze through $150 let's see if we retest $12 so there my got filled with no problem on the entry down a teeny bit right here but looking for the break through 1150 there's 57 60 66 80 71 all right let's see what this can do is it going to go up to 12 there's 1187 late 11 1192 1195 boom taking some profit through the highs nice all right that feels good of course this one was only with 250 shares but nonetheless that's a good trade okay so still holding 32 shares shes now up uh over $200 which is good 200 a day has been kind of my target I would love to hit 200 a day consistently with a small account all right so now I'm putting a new order here for 250 shares looking to add back let's see if this want to continue up towards 13 high of day just under right around 1250 there's 1288 oh man all right well I'm still holding 32 shares up over a dollar a share 13 coming up put the sell order there uh there we go nice sold another 30 share 25 shares at$ 12299 uh still holding seven shares left up almost let's see coming up on $2 a share not bad that was a nice trade wish I'd taken a little bit of a bigger position put the order on the ask and out the rest 1248 now for the fifth trade on day three I end up doing something you don't see very often but I did a dip right at the open that gave a nice squeeze almost a dollar a share so let's check out this last trade of day three okay so I'm looking for a uh dip here off of 13 for a retest of the pre-market high around 14 so I'm going to take 250 shares here going into the open and let's see if we get a tested that pre-market high so in there with 250 at 309 there's 245 260 270 288 out [Music] $463.30 in commission not bad about 10% of my profit went to fees and commissions which means I walked away still with a profit of about $415 that is super solid for day three and that means in 3 days of trading my account is up 80% just about that is awesome now remember when I said everyone should day trade with a $1,000 account let me add a little bit more to that yes I think it's important to day trade with $1,000 account because it teaches you discipline but I want to remind you you should not trade with a real money account until you have first proven profitability in a simulator and when I mean profitability in a simulator I don't just mean like one green day I mean you should have like four to five green weeks at a minimum that's probably going to take you a couple months to string together you know five green weeks in a row so I would really encourage you to practice in a simulator because listen if you can't make money in a simulator you have no business putting real money on the line let's be honest real money is not going to be easier than a simulator it it's going to be a little bit harder because there's liquidity issues you don't have in a Sim so first prove you can make money at least in a simulator and then flip the switch to go live so what I want to do for you guys who are tuning in for this small account series is I want you to check out there'll be a link pinned to the top of the description in the comments pin in the comments top of the description so I have put together a 30-day trial that is specifically for you guys right here on YouTube it is a 30-day trial at Warrior trading where you will have access to a trading simulator with real time level two Market data hot Keys everything the same as me so you could practice trading side by side with me and test yourself see if you have what it takes to be a Trader during your 30-day trial you guys are also going to get access to my chat room my live audio video broadcast my scanners and my charts and my news feed so you're going to get access to all of that for 30 days to really give it a spin we're also going to give you a sample of a few classes from my warrior Pro curriculum I want to do this because I want to see you know you guys join me let's try to do this together let's see what you can do in a simulated environment where you're safe and will not risk real money because as always I'll remind you my results are not typical this challenge well I've been trading for a long time I've got a lot of experience so of course I'm able to do relatively well with a small account challenge but even I can make mistakes and as a beginner just do yourself a favor and practice in a simulator and check out the 30-day trial it gives you a chance to test out our tools and practice in our simulator without taking a lot of risk so check it out now let's go back to the slides let's talk about the mechanics of how to day trade with 1,000 bucks all right so there are two types of accounts you have cash accounts and you have margin accounts with a cash account the way this works is you can only invest and trade with cash these accounts are the easiest to open anyone can open them but they're restricted by settlement time effective June 1st 2024 settlement time is T1 which means you have to wait one day for a trade to settle so if you take if you have $1,000 account and you take a full a trade that uses all of that buying power on Monday then you can not take any more trades on Monday but on Tuesday you could trade with that full th000 again so basically you could trade your full account once each day and then you have to wait for those trades to settle and you could trade again tomorrow there is no minimum account size for a cash account you could open a cash account with 10 cents and there are no day trading restrictions with a cash account you could day trade as much as you want until you run out of money which with a $1,000 account well you could take $1,000 worth of Trades and then once you've taken that you've got to wait until all of those trades settle until tomorrow so as an example here a $1,000 account would allow you to trade up to $5,000 of stock each week with T1 right settlement on on one day so basically it's your account balance times 5 that's the max amount of money you can trade given my goal of trying to get a 10% return on a trade with a 5% stop loss if I put the entire account into a trade I'd net $100 on day one with a Max loss of 50 bucks right now accounting for one red day a week I figure the way I kind of do my my math is that my weekly goal uh weekly goal is dailytimes 3 cuz I'm going to hit my daily goal on let's say Monday Tuesday Wednesday and Thursday and then I'll hit my Max loss on Friday and that's usually going to give back one day of progress so you know just to allocate for fees and commissions I just sort of figure my weekly goal is the Daily Times three so unfortunately the most I'd be able to realistically grow my account with a cash account would be 30% in one week and that would be a really solid week week but here's the biggest drawback to a cash account it takes the same level of knowledge commitment and skill to trade once a day and make 10% on that trade as it would to trade 10 times a day so ultimately with a cash account you're limiting how much you can grow your account and how frequently you can trade and given how much you've invested in your knowledge and your skills why do you want to be held back you want to be able to trade you want to be able to be active now of course a cash account for someone trading with one share and just trying to build consistency and who's treading it essentially like a simulator that's fine but when you're trying to treat it like you know to real money you're trying to actually grow the account it's going to hold you back so let me introduce the margin account a margin account allows lending to trade with borrowed money it doesn't change the settlement date the trades still take the same amount of time to settle but you don't have have to wait for them to settle you can continue trading essentially on borrowed money from the bank which equals your account balance but a margin account requires margin approval so margin approval there it's a long margin contract and the approval and the agreement states that if you lose money that you're trading that's borrowed you'll owe it back to your broker so they're lending you money to trade with and if you lose it well you got to pay them back now with just settlement you don't have to worry about that so some people say Ross how does it work with trading in a retirement account I do have margin in my retirement account my big account but in a margin account they will not sorry in a retirement account they do not give you any leverage so ultimately all it means is that I don't have to wait for settlement I could just trade trade trade trade trade but I don't have leverage the four times or six times leverage that different Brokers may give you so with a standard margin account you're going to get leverage they want you to trade they make more money when you trade more so they want you to sign the margin agreement they want you to use leverage also if you want to short stocks you have to have a margin account again because of the risk of unlimited loss with shorting you have to have the margin agreement that you'll repay your broker so the downside with a margin account is that there are minimum account size and it varies depending on your br broker and your location so ultimately when you apply for this margin account and you are approved your broker will allow you to invest and trade on borrowed Capital settlement margin rather than waiting for trades to settle before the next day you're just allowed to trade immediately that's used specifically for retirement accounts so let's talk about how leverage works okay so depending on your broker and your location the amount of Leverage you can be offered will vary typical Leverage is four times which means if you have a 25 $5,000 account * 4 = 100,000 that means you could actually be day trading with $25,000 of your account and then $75,000 of borrowed money from the broker which would give you that full $1,000 of buying power I don't have to tell you it goes without saying I think I'll say it anyways trading on margin and Leverage is very risky you should never do it if you don't always already have a track record of profitability not just in a simulator but also with real money I am comfortable using margin and leverage because of the experience that I have but a beginner Trader should not and that's why the United States in February of 2001 enacted What's called the PDT rule the pattern day trader rule the pattern day trader rule says that in the United States if you open an account in the US you have to maintain Ain a minimum balance of $25,000 if you're going to day trade on margin and day trading in the definition written at that time meant more than three trades in 5 days three day trades so ultimately everyone who's day trading is going to meet that uh that restriction or or hit that limit so the result is that all of the US Brokers Robin Hood Weeble amerit trade you know all of the Brokers all of them they're forced to in enforce this $25,000 PDT minimum rule however International Brokers are not required to enforce that rule that that's a rule that the US made for us broker dealers so International broker dealers they follow rules based on the country that they're located in now those Brokers will can also allow you to trade in the US market so that's the type of broker that I'm using I'm using an international broker for this challenge because they allow day trading with margin and leverage and the minimum account size is 500 bucks so there are a number of Brokers that offer this this video is not promotional to any one broker or another ultimately this is the way I think of it the a broker is a tool and this is a tool that is a risky tool specifically the tool of using leverage and margin and day trading with a small account however for someone who has proven they have the skill in a simulator and maybe with a cash account with Robin Hood or thinker swim you may feel that a cash only account is limiting you and holding you back and you don't feel you're able to just come up with 25,000 so for you there is a cost benefit analysis to using one of these tools like an international broker so ultimately as investors we have choice if we want to choose to open an international account we can but we have to do so knowing that there are some different risks with an international account we we don't have us Deposit Insurance that we would have with a US account so I'm not going to put my life savings in international account I'll put a small amount of money 500 a th000 couple, I'm okay with that but I just have to remember that I don't have the same recourse that I would have with a US broker dealer and that's especially true if you open an account with an international broker that is in a country that doesn't speak English that then it's like a whole extra barrier of how you communicate with them and everything else so you guys have to make your decision of what you think is best for you for me for this challenge for the speed that I wanted to grow my account it was a no-brainer to go with an offshore broker so with the offshore broker that I'm using I have six times leverage and yes if I deposited $25,000 I would have $150,000 of buying power but I don't need to deposit a minimum of 25,000 in my account and this is the thing that I mentioned before is I think that's way too much risk to take for a beginner Trader to put up 25 Grand that's way too much money that's like a you know beginner driver with a fancy car you're going to make mistakes and mistakes are going to be painful so instead I would rather trade with a small account so I can deposit $1,000 and then time 6 oops time 6 equals $6,000 of buying power and now just like that I see a stock at $5.95 I could buy ,000 shares of it if it goes up to 625 I'm up 300 bucks right so now I can start to grow my account a little bit faster using this margin and leverage so on day four I came in with $1,850 194 of buying power accounts up over 80% in the first 3 days which is great but on day four I traded a couple different stocks sngx which was a cheaper one so I wasn't able to use any leverage and then lbph which was a more expensive one I was able to use my leverage but it's a $16 stock and with bigger spreads I found that the risk on this one was a little bit more difficult to manage and so I ended up finishing the day with profit but it was not a home run day day four I locked up at in total at the end of the day final trade was a loss and so I finished with $93 80 of profit but I had $34 in commissions that left me with less than $60 after fees and commissions so one of the common team for the first 4 days has been dealing with some frustration around the margin restrictions at the broker that I'm using so I can't I don't get leverage on any stock under $5 which means with even with 1,800 bucks you know the worst case scenario has been stocks that have been like $44.50 because $4.50 I can't even buy 500 shares with my cash and I don't get any leverage but a stock at $55.50 now I I can buy almost 2,000 shares of it so now I'm starting to get into a place where if the stock is priced right between five six and seven I can do some real damage with this account now of course that damage could go both ways and I am being cognizant of that so the way I'm essentially figuring out whether or not a stock has Leverage is by pressing shift one so my hotkey for shift one right now the way I have this set up is shift one is share size my share size is buying power times 90% all right so times 90 so if I have $122,000 of buying power or $10,000 of buying power to make the math easy it's going to enter share size equal to $9,000 of stock now with the broker that I'm using on a day-to-day basis my my my typical us account they actually show me in the top Corner uh of each of each uh level two window they show me how much margin I can get and so this one here says 100% And what that means is that I have to use 100% of my cash to take the trade in other words no Leverage is offered whatsoever this one is 25% which means I'm allowed to use full four times leverage so I find that to be really nice the platform that you've been watching me trade uh with this small account challenge does not have that same feature so the only way that I'm really able to figure out how many shares I can buy is by pressing shift one now shift one is going to tell me the number of shares I can buy but it does not automatically adjust leverage for stocks under $5 so what I just know is that on a stock that's like $2 I could press shift one and it's going to take my buying power and multiply it by 0.9 and and then what it's going to do is it's going to check to see whether or not the broker has put an additional restriction on that stock if they have then I'm going to see that even even though I have my buying power I still can't take a full position and that did happen on a few stocks even today there was a stock that was $6 or $7 a share and I wanted to trade it but unfortunately the broker had chosen to restrict leverage on it because it was a more volatile stock and ultimately they're trying to protect themselves they don't want to issue margin calls so what's a margin call a margin call is when you end up taking that trade where let's just say for example you know you buy let's say there's a you've got a $1,000 account and you've got six times leverage you buy the $6 stock a full thousand shares which means you've got $6,000 on it and then it drops let's just say the stock drops to $3 a share $3 a share you're down three grand well wait a second you only have a $1,000 account that means your account is actually negative 2,000 and your broker is sending you a marginal a margin call in that amount and they're saying we want the $2,000 and in the US when you sign a margin agreement I mean it's it's like it's like a Lo it's a it's an official bank loan so you now will owe them that money if you have a car you they could force you to sell your car to come up with the money to meet the Margin Call they could force you to sell your house and this is one of the reasons that short selling is so risky because even last week or two weeks ago we saw this stock that went from $25 to $500 a share and if you were short 1,000 shares of that you'd be on the hook for $475,000 as a margin call to your broker so as a policy I am not short selling in this account now although I I may on one or two trades if I see a really good opportunity it's not going to be my go-to strategy because the risk is too high but there's still risk with trading on margin to the long side you could have a stock that does drop 50% although it's you know the likelihood is there I I suppose right it depends on what you're trading whether or not there's news what the catalyst is so on so forth so there is certainly risk even trading to the long side when you're trading on Leverage so you have to do it responsibly you have to do it carefully and you you have to work within the restrictions that your broker sets for you now as we talked about earlier in the episode if I was day trading with a $1,000 cash account my growth ultimately would be limited I I think to probably 30% a week which is I mean that's still great I wouldn't be able to do it exponentially you know to Infinity but you know that would be sort of my my growth limit yes I could trade some crazy out ofth money option contracts that maybe could go up 400% but that's like those are lottery tickets that's not really the strategy that I trade which is based on Thousand tens of thousands of Trades of historical data so for my strategy a cash account I could grow but it' be slower work so with a margin account I don't really have a restriction which is why here we are day four my Count's already up 80% and now let's take a look at day five Nei up 84% I've already broken the ice with my first trade on this up $66 a relatively small trade I have right now $1,913 in equity which means as of now day five my account is up 90% okay so first trade today is in the books and now I'm going to look to see if I can find some more trades on nxi but I'm going to tell you this one is going to be frustrating cuz it's right under that $5 price which means I can't buy a lot of shares of it I want to buy 1,000 shares of this and make 300 bucks and3 but I can't afford it so I'm going to be limited on this one to 300 400 share positions and you know yeah I can make 20 cents and make 40 or 50 bucks but it's not going to be the same so I'm just going to do the best I can given uh the restrictions on it all right so I just locked up two quick trades on pidu I forgot to record before those trades uh I'm back in here at 931 150 shares I'm trading this with kind of small size you know I'm I'm a little timid on it but uh you know let's see what it wants to do it's volatile for sure okay so we've got 960 on the bid 959 so I'm I'm back out of that small gains on it just kind of gosh darn it I sold it too soon whatever it's fine I'm I'm just trying to chip away here um see if I can you know $200 already today I'm feeling pretty good about that um I don't want to push it too hard I don't want to have a big draw down so uh we'll see if I can add a little more profit without taking too much risk all right so now that nexi is over uh $5 I've got my leverage trying to get in here I filled eight shares at seven that's a uh not even a real position that's annoying I'm trying to do a dip here and see if it curls back up towards yeah the problem with eight shares is that the commission to buy and sell I mean I I'd have it go have to go whole dollar a share even to make eight bucks so now I'm kind of stuck holding this until I either add to it or I don't know just take the loss I guess but let's see what this does I think I'm going to add down here for the pop back up over seven all right but what is the deal do you see so my order again partial you I'm just going to get out of this thing for some reason my orders are not filling I put the order there and it just it did not I filled another 13 shares so I just lost a couple dollars there on commissions whatever okay so I'm buying this here at 660 uh this is 500 shares right off the 20 moving average this is psychological support and I'm looking for the curl back up to seven 500 shares could have bought more but dip trades can be a little riskier so uh let's see so right now up about 20 cents on the offer looking for $7 there we go there's 87 89 on the ask 90 good 94 taking half off right there at 7 that's 40 cents a share taking another half off there at also about 7even now let's see what else this wants to do okay so we've got a high of day right around 740 uh this was resistance uh so got to be a little careful there but let's see if this can get back over seven I want to see it hold $7 there's seven all right so I'm going to take the rest of this off the table here uh not bad honestly not bad that was a solid trade sitting at $382 4 on the day not bad this is my third best day so far of the small account challenge now sitting at 558 $56 amazing we just got a retest to the high of day I got a trade there from 720 up to 730 starting to lean in and size up a little bit I've got a little bit of a cushion so this is uh this is really coming together well I am happy with the action today all right so I'm looking for a trade through the half through the high of day so I've got my buy button uh ready to go here 750 is the order that's the top of the limit 500 shars green on the tape I'm in slow fill but filled at 730 just kind of a slow fill it was like filled and then kind of like stalled and then filled the rest all at once sort of weird not sure why but I'm in um but there's 40 back to 30 huh on the offer 30 on the ass 38 I'm going to put it out and whatever I'm taking it off the table I I this is having some resistance here still holding 42 shares let's see if I can get out of the rest of this uh my order's there it's just not filling I'm going to sell on the bid all right that's good you know what that's a solid day $579 188 that right there is the best day of this small account Challenge and there you have it the first 5 days are in the books the account is up 140% I started with a ,000 bucks now we've got $2,400 and I'm going to keep growing this account remember once we cross over 10,000 new subscribers boom I'm going to reset the account back to 1,000 bucks once we cross over 10,000 thumbs up on this small account series you're going to help me unlock a new piece of inventory and I am desperately wanting to replace this monitor right here because it is very difficult to use for trading it's very hard to see the scanners everything down here is impossible to read so I cannot wait for that so please smash that thumbs up button it makes a huge difference for the channel and for my trading station right here and I want to remind you hey if you want to watch over my shoulder as I'm trading during this challenge join us for the 30-day trial this is an ongoing challenge so join the 30-day trial you're going to access to a realtime simulator with level two Market data you're going to have access to my scanners my charts my newsfeed the chat room and my audio video broadcast plus we're going to give you a sampling of a few classes straight out of the warrior Pro curriculum to help give you a jump start on your way so come check us out over at Warrior train.com there'll be a link pinned in the top of the comments and in the description to do the 30-day trial and coming at you next will be episode three let's see where we go from here all right I'll see you there