Day 9 🥳🤗 Account is up 50% TODAY! - Small Account Challenge Ep 15 transcript

what's up everyone all right well here I am on the traveling trading station making some money this morning another solid day small account continues to grow I am up right now one thousand two hundred sixty two dollars and ninety two cents which is an awesome day this is the ninth day of a small count challenge so this morning when I start trading I had two thousand four hundred dollars in the account so he counts up fifty percent today yesterday or Friday was a hundred percent today's fifty percent this is pretty crazy so tomorrow on day ten I'll be starting with about three thousand six hundred dollars of total buying power of total account value my buying power is thirty five hundred times six so I'll have over twenty thousand dollars in buying power and now that I'm kind of past that first week I can start really growing the account quickly it's a beautiful day here still in Miami and sunny at the beach it's nice and warm I mean considering it's December it's awesome down here really can't complain at all so you know the only thing that I'm a little disappointed about today is that I was up 1,600 and then I gave back 400 on my last two trades and in my big account I was up 6,000 and I gave back 4000 on my last two trades so you know that's a little disappointing the small accounts still in great shape you know $1,200 is fantastic the big account yeah that's a little bit of a bigger hit I gave back more than half of my profit on that one but it's the way it goes you know I had a really great day on Friday and today I kind of continue to be a little aggressive roll some of those you know profits into today's risk in order to take a little more risk for bigger return and generally it worked I'm green I'm in good shape could have been in a little better shape if I walked away a little sooner but you know on the other hand on Friday I I probably left money on the table I didn't stay quite it I didn't trade quite as much as I could have the stocks continued to run and I didn't want to that today so today I traded a little longer and ended up instead of leaving money on the table giving back a little profit but it all kind of balances itself out over the long run and right now on day nine I'm feeling really good with a small account they get some great progress and I'll go into a day ten and really good shape alright so I hope you guys enjoy the recap as always questions comments leave them right down below and I'll see you guys first thing tomorrow morning for day ten alright everyone so we're gonna break down the trades from this morning up one thousand two hundred sixty two dollars and ninety two cents in my small account which is awesome of fifty percent the big account my retirement account is up two thousand thirteen dollars which is great now I was up six grand so it's not as good as being up six grand but two thousand is still still good but my main account here is down thirteen hundred so on this one I took one trade on Mir M got out basically flat and has a second trade on SIF where I lost 1400 so I'll break down the trades here and this is one of the things we were talking about during the inner circle just because you can trade in three accounts at the same time doesn't necessarily mean you should dividing your attention across three accounts is certainly not an easy thing to do and sometimes in the case today I was a little frustrated in my this account here Mir M because I was just was pressing my my hotkey so the way I trade these two accounts is with my left hand I trade my small account and with my right hand on this computer I trade my big account and you know so it's kind of a next level of trading but in any case and that's what I do and what ended up happening was when I was pressing shift 1 to get into Mir em I wasn't highlighted on my level 2 window and so obviously I didn't fill any shares and it ended up ripping over $2 a share that was right here from 17 up to the halt level of 1882 and so I was really frustrated and you know because I tried to take six thousand shares of that in my big account and that would have been awesome and at that point I was already up to 6 grand so that could have put me up ten or even you know maybe fifteen thousand but I you know wasn't on the right window so the orders didn't go through and so then when it's squeezed up here to the 20s ended up taking a couple more trades but I was sort of feeling a little FOMO here even though it's feeling good on this account is feeling a little FOMO on this account and you know that that's a sort of tough place to trade from where one account you're feeling great about the other one you're feeling FOMO or frustration on but you know right now it's kind of the only way that I can do a small account challenge and still make good money not that $1,200 isn't good in a small account today but I made 1,200 on a stock that with a big account I can make you know 6,000 on so you know I I'm not sure I don't know I mean once this account gets a little bigger I'll have the buying power to focus on it pretty exclusively although of course at that point I'll probably be getting ready to do another small account challenge so I can kind of keep doing these small account challenges and you know keep kind of showing you guys how it's done so in any case let's break down the trades okay so today started pretty much like any other day looking at our gap scanner it's Monday a gap scanner at 9:15 a.m. was looking kind of interesting I mean nothing spectacular but um you know but not bad so the leading gapper as you can see actually had no volume agent JLI only one share volume so that one we just ignored and skipped over ax sm $85 stock so that one's no good and the next one down was mi RM at eleven dollars and 81 cents up 44% with a 4.3 million share float and thirty-four thousand shares of pre market volume so this met all of the criteria for being a stock worth trading the only thing about it that was a little tricky was the price the price being you know at ten is a little higher than I prefer obviously I was trading LM px on Friday at thirty dollars plus a share so it's I'm willing to trade them if they're showing strength but it's also really common the stocks of this price range will kind of pop up go sideways get really choppy and don't really give us big moves it's more often that when a stock goes from four to six to eight to ten to twelve that when it's trading at twelve dollars it's still kind of trading like a four dollar stock because it was just at four dollars you know this one was at seven fifty wasn't actively traded really and then you know gapped up to twelve so this is when I was a little unsure about and didn't end up trading for a few minutes look I'll show you kind of where I start trading it so that was Mir ran on the gap scanner and an SF was a couple down here at three dollars and fifty cents so let's look at SF first SF also met the criteria actually in a better way 350 is a better price twenty-nine percent gap is great four million shares of a four-million share flow twenty two thousand shares of pre market volume the bell rings and it opens at 3:19 now this was kind of interesting because even though you see this is a big green candle it actually opened a little low versus kind of the pre-market clothes which was at 3:40 so when it opened below 350 you know not and kind of looked like maybe it was going down I sort of hesitated it then ripped through 350 hits 375 380 390 395 $4.00 and then it does a micro pullback right here I got in for this micro pullback break out at 4 and rode that momentum that pop up to 420 and then I got back in on this dip right here and sold on what ended up being a double top at 420 so those are my two trades and actually on this one right here this first trade it hit a high of 399 it then dipped down to 370 and as it started to curl back up that's where I got in around 375 for that break over 4 so I wasn't in it for I was in just below well below that level we got the break of 4 in the whip up to 420 and I sold on the ass taking profit around 4:10 or something like that the second trade was a good one however I took this second trade in my large account and I added at 315 and 320 was gonna bring us our 4:15 4:20 thinking it was gonna break that level next target being 450 460 maybe five before 50 was the next target what ended up happening is it flushed back down to 375 and so that was the trade in my larger account where I ended up losing $1,400 which was kind of disappointing you know that's that's not what you want but the reality is I I can't be as fast in I can't be super super fast into accounts at the same time I only have two hands so I trade a small account with the majority of my focus and the big account you know if I take a trade and it ends up rip and working then that's great but if it doesn't work right away I'm not gonna be able to kind of cut the loss fast I'm most likely gonna have a bigger loss in that account and so that account will be marked by bigger winners and bigger losers just as the nature of sort of that strategy is gonna dictate so anyways double top here at 4:20 and then from there fading back down not holding this level and has no longer been in play so six hundred and twenty three dollars and 53 cents in a small account on that was pretty good and then on Mir M will switch to this one my first trade on it was actually a really kind of a small trade it broke over twelve seventy four it rips up here to 1368 it hits a high of 14 seventy nine it does a pullback and then right in here this was my first really good trade on it I had one trade right in here for the break over fourteen kind of just jumping on the momentum and that was the one where I basically I was up fifty cents for a second and then way back down and stopped out flat so I was like okay that's a little choppy not not easy and then this is this pullback here so you see how on the one minute it starts to pop up it hits a high of 1479 it pulls back and then this right here over fourteen twenty first little candle to make a new high a break of this level that was the spot and so that's where volumes started to come in we got that break of 1450 a rip up to fifteen sixteen a halt at 1605 I'm still holding small shares into the hall alright then it opens a little higher it pulls back and then it pops up over seventeen but it doesn't really rip nicely until right here when it comes back up and breaks 1725 so then this was the next entry in the small account where I did really well in the big account this is where I missed my fill it then squeezes and gets hauled to the second time at 80 needs to it opens higher all right it hits a high of 20 it pulls back it rips up and I added it $21 and 84 cents for the break over 22 it broke 22 hit 22 19 and then it dropped to 20 dollars and 25 cents and I lost a dollar fifty per share so I actually took a pretty good-sized loss on it giving back four grand in one trade it then came back up here I took another quick trade on it this was in the small account and this was the trade where I lost 400 bucks so I thought it was gonna break 22 and you know I just thought it did but it doubled topped at the highs so today's a day where I gave back a little bit of profit off the high and you know this is kind of I don't know I mean I'm I'm a little bummed out that I gave back as much as I did in the large account the small account I'm pretty okay with you know $400 is not something you love to do that was with 200 or 300 shares so it was a pretty quick pretty quick loss in the big account it's disappointing because it can sometimes take you know days or weeks to get a really nice six or eight thousand dollar winner and I had it this morning and then I didn't take her back my risk enough on that last trade and so on that last trade I gave back more than half of my daily gains by continuing to trade with the same share size of 5,000 and 6,000 shares so I was I was being a little too aggressive there generally the smart thing to do is to start to reduce share size as you get you know further and further into the day I know Ibraheim you did pretty well today up around 7 and you're talking about how you've you've had a really great hot streak I mean you had you've had some huge green days in the last couple weeks 5,000 10,000 you're the $16,000 day it had four awesome days in a row and so in four days so you just say it's made $28,000 in four days which is awesome I mean that's that's incredible but he said earlier today he said I feel like a red day is coming and a big loss is coming and I actually I had a I had a nightmare over the weekend an actual bad dream over the weekend that I I took a trade and lost five thousand dollars in the small account and that I was just like oh my god this isn't like not only did I blow up the account I'm I'm down five o'clock you know I'm down five grand I only had twenty five hundred in the account in my dream so I was red I was I was now in the red in the account and it was such a real dream that I was just like I was the whole next day which was yesterday Sunday I was thinking about and I was like oh man I got a I've got to just take it easy you know what your account up a hundred percent so I made this sticky note it counts up a hundred percent slow and steady slow and steady you know this isn't a race this is a marathon just you know set your pace now and and and and just kind of grind on those smaller numbers you know sometimes it's a you know it's kind of a strategy of you know racing and stuff like that sometimes you want to get out in front you know quickly and then pull back and kind of set your pace other people are totally okay with like kind of starting slow and then gaining towards the end but you know a lot of people kind of like to get out early push a little hard and then just kind of set the pace and then maintain and you know right now in the last this is day 9 of the small count challenge ninth day the account tomorrow will have three thousand six hundred dollars so I started with 520 I've now got $3,600 so the accounts up 5 5 times 5 25 5 times 6 is 30 5 times 7 I mean it's up seven times in the last five nine days this has been a really nice nice hot streak that we've had here and you know I it's okay to taper back a little bit bring down the share size and try to reduce the risk so you know I think that [Music] certainly on my first couple trades of SIF I was a little more conservative I didn't go nearly as aggressive on it as I could have once it was over four dollars I had you know my margin on it but I didn't want to push it too hard so SIF I took a little slow I hesitated it at the start and then you know kind of waited for a good pullback am i RM you know I stepped up on it but trading with between 100 and 300 shares so my buying power would accommodate being much more aggressive than that but you know I didn't want to I didn't want to push it and get smoked so trying to sort of get myself in the mindset of the marathon setting my pace and if I can maintain 500 a day that is fantastic absolutely fantastic I don't need to be hitting thousand 1,500 or 2,000 dollar days back-to-back obviously if the market is hot that's fine and the market has been really hot here in the last you know the last two weeks mostly on LNP X but you know here we have another one up right now 115 percent so this is a day where money can be made and it makes sense to be a little bit more aggressive but you know always just trying to keep that kind of question in your mind of what am i risking on this trade and can i really afford that risk and you know today I was able to afford the risk I took and I'm walking away walking away so you know definitely when you get into that kind of race mentality of oh I want to cross this line I want to make this amount of money that's when I can start to get into a little bit of trouble myself I know that from you know my experience so I I have no idea how much I'm up on the month right now you know it's the it's the sixteenth we're about halfway through the month I know I'm up thirty four hundred as of today or thirty six hundred in the small account but in my big account I'm not tracking it at all I'm not even looking at it I'll look at it at the end of the month but the reality is checking my balance on a daily basis to see where I am relative to my typical monthly goal it's not helpful it's not gonna change how strong the market is or how weak the market is so I just have to continue to be focused on trading the market that's right in front of me all right so that's the game plan will go into day ten tomorrow hopefully we'll see some continued momentum whether it's on Mir M or SIF or something else we trade it today LM px having a little bit of a pullback day today which is I think absolutely to be expected so I wasn't eager to jump into it I'm just gonna let it continue to consolidate we'll see if it gives opportunities later this week but with the price being higher on this one I just said you know guys I I just I don't feel like I could trust it I could just lose too much too quickly because I knew the volume pre market was already lighter since it wasn't gapek higher so I just felt like I liked her volume on a stock of this price range of spreads I knew would be big and so I decided to mitigate that risk by not trading it at all so I'm glad that I stuck with it and a nice comment that someone posted on YouTube mentioned exercising your stopping power so your ability to stop and that even though some days absolutely you'll walk away having stopped only to watch a stock like L MPX go another you know fifty percent without you that extra step muscle that's a strengthen that muscle to walk away is very very important you have to know when to walk away on Friday I walked away at the very top you're not going to do that consistently every single day it's that's almost impossible today I'm walking away a little bit off the top I gave back a little bit market but with what we were seeing on Mir M and relative to the momentum that we saw Friday I'm Ellen px I thought that it did make sense today to you know to step it up a little bit more but you know I I did get back some profit so I actually would have been better off today if I stopped trading right it you know I don't know ten o'clock or so in any case think of that as sort of strengthening the muscle so even though it doesn't always feel good it's really important to do that ok so that's it for me I will see you guys tomorrow for day 10 of the small count challenge alright see you guys tomorrow bad one hey did you know every morning I go live to stream a pre market watch list subscribe to the channel press the alert button and you'll get the notifications if you want to learn more about trading check out the links in the description and if you have questions post them in the comments because I personally respond to every comment posts on my channel [Music]