Day 21 of My New Small Account Challenge | Day Trading Recap by Ross Cameron transcript

what's up everyone all right well today is a red day recap for the small account and it's uh salt in the open wound to see the stock that i lost on that i lost big on um i got in at 32 80 30 to 60. it dropped to 30 and i stopped out so i lost 600 550 just on that train it went a little lower to like 29 maybe 28 and then just ripped up to 34.74 without me oh gosh that hurts you just feel like you had the right idea had the right idea but the timing was wrong and the problem on that trade was i ended up having a poor profit loss ratio and i'll talk about it during the recap you know god didn't think he was going to break immediately and then it flushed and at that point i was down so much on it that i gave it room uh to bounce and it did but then didn't really work and it just became a bigger loss and so you know the challenge of the small account today was that i hesitated on a similar trade early that ended up being a big winner in my main account i was like ah it's too risky for the small account i'll trade it in the bank account i could have just taken it with smaller size in the big account but or a small account but i didn't you know in any case so i didn't trade it at all in a small account it makes a big move and then when this one this opportunity showed up i was like oh i'm not gonna miss that and i took the trade and then you know that's the one that doesn't work so the challenges of trading in a small account missing an opportunity then fomo kind of overcompensating getting into the next one and then not wanting to give up on it so kind of a bummer here day 21 red day recap but um it's okay i'll have to trade another day i'll be back at it first thing tomorrow so i'll see you guys then uh day 22 hopefully uh not for a third red day recap but for a green day recap all right hit the thumbs up and as always remember trading is risky most beer traders lose money that's a typical experience you should assume therefore that you will lose money you should trade in a simulator before you put real money on the line all right my results are not typical so take it slow all right enjoy the recap i'll see you tomorrow [Music] all right everyone so um finishing the day in the small account down 643.99 that's a bummer for sure that's a big red day um i didn't trade that in it at all yesterday i didn't see anything that looked good and today i felt a little antsy i was like i can't just not trade in it multiple days in a row you got to find something and so the first stock i traded was xbio xbio well so in my main account today i'm up 23 000 i had a great day in the main account on ahpi the problem is that i didn't feel that i could trust this one in the small account because at the time the spreads were big the price was too high and so i missed the opportunity i ended up overcompensating by then taking a trade on acy in the small account but then highlighting exactly why that's probably not the right type of stock to trade in a small account so anyways i missed hpi in a small account traded it in the big account did well that's fine but in the small account the first trade was on xbio so on xbio as it popped up it was right around uh here that i got it as it popped up here i got in at um 4 and it pops up to a high of at the time it did not break and i stopped out break even well i lost 16 on it no big deal it came up and tried it again it failed and then finally it did break through that level but then it failed pretty dramatically so that was kind of a bummer um i'm not even i'm not really sure why um that that was the case but it was just it was choppy and you know the fact is i guess one of the reasons why is that it wasn't one of the leading gappers it wasn't one of the obvious stocks and so you know i i should have just left it alone well i immediately then jumped into ocx you know i get read 16 bucks and i really want to kind of get green so i jump into ocx which um had just squeezed up and i bought the bounce off the v-wap at 5 11. so in that fire 510 stopped on that at 503. i couldn't afford to keep holding it as it pulled back lost 94 on that putting me down 111 on the day then i didn't take any trades until acy acy i decided to give a stab on it and that was right it was right about here i bought it at 3262 for the break of 33. i thought at this point's a flat top at that point it was a five minute setup and i thought it looked good it dropped all the way to the v web i held through the pullback i was down like 500 because i ended up stopping at about the same price right here so i held through the pullback i didn't intend to initially because i got in the trade thinking it was going to break 33 right then and i was going to have a winner immediately and when it hesitated and dropped then i kind of thought well shoot i don't really want to stop out on this for a dollar a share loss it's we first we have this yellow ascending support line it broke that but then i'm like well the vmap's right there and it bounced off the view app from 30 50 all the way back to 32.50 two point bounce off the v back you know what this thing may end up going today but unfortunately i held through a much bigger drawdown than i had planned on so i was down 500 on it then comes back up to basically down 10 cents but at that point i was like no if this breaks that's the spot and it hit 32.50 and then dropped and i stopped out right there and so unfortunately on this one i just could not um keep holding it and even though it's up from where i sold right now by a dollar a share if i had kept holding it i could have risked it going into a halt down so you know today highlights um one of the challenges with trading in a small account that sometimes you miss the stock that ends up being the big mover because you think you can't afford the risk and then because it worked then the next one that's risky you take the trade on it but of course it's still risky and then you end up not taking loss on it so i'm disappointed to have a fairly large red day here um it's not my max loss but it is three red trades and so i'm not going to take any more so between days 20 and 30 taking three trades a day is fine but i just went for that last trade thinking i'd get green and i just couldn't do it so discouraging but uh you know it's it's the way it goes with small accounts and the challenge here especially is the level of patience it requires it requires so much patience because small accounts can be so slow a small account is a slow account and that's a good thing but it's it takes a lot of patience and for me um i think that's where the frustration kicks in a little bit because i end up missing you know an opportunity and then i'm kind of feeling fomo on it and maybe i trade in the big account but you know i'm missing a small account and then i'm just like oh man it just kind of gets to you so that's kind of what i'm feeling a little bit today um just like you know just like a little bummed out and you know it's this is like 600 is like my biggest green day and you know the trade on acy i wouldn't have made 500 on it if it had worked i was probably only going to make like 200 of them so you know to be down 500 on a stock i probably only have the potential to make 200 on is that classic you know negative profit loss ratio which is the result of sort of holding and hoping and that's a problem so i think that these problems are compounded by trading in a small account in a large account uh using leverage i can get aggressive on the stocks that are strong i can afford to trade them and uh you know the stock that i made the most money on today's hpi i didn't even touch it in the small account you know i i just let it go without me so it's a small accounts are a challenge but at the same time it's a proof of concept that's the whole point it's you know it's sort of a just can can you keep your head above water and if you keep your head above water long enough then clearly you're doing something right and then at a certain point you recognize if you're swimming with weights around your ankles maybe you should take the weights off and training a small account sometimes feels like swimming with weights on your ankles because you're you're held back by share size you're you're held back by the risk and so if you can make it in that small account then that's when well you have a small account slowly over the course of six eight months or whatever it is grows to a big account and then that's fine or you say you know what it's worth me justifying investing in myself and turning it into a big account you know by moving money from somewhere or selling my old car whatever you know you might do which are things that you know i've done myself when i was trying to keep my account large enough to to trade because i knew small account would be challenging but uh you know again it's a challenge that i took up here during a time of year when statistically there isn't a lot going on so yeah just kind of taking a couple trades here and there i'm not i'm disappointed but i'm not super stressed about it um i've been interested to notice that the interest in the small account has been waning on uh on youtube you know i kind of thought that people would be more interested in it that was sort of the ideal okay people really want me to do a small count challenge all right i'll do it but consistently every single day my recaps are getting almost twice as many views on the main account in the small account people are really excited on like day one and two and it's just like not interesting so i don't know um i'm wondering whether or not it's really interesting to people i mean the statistics are telling me it's not but maybe today is a red day we'll get more views so that's it for me as always training is risky my results are not typical take it slow one tray at a time and we'll be back at it tomorrow for day 22. and that right there was an entire video with no 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