Day 42 of My New Small Account Challenge | Recap by Ross Cameron transcript

[Music] what's up everyone all right so green day recap here in the small account so now rallying back up with a big green day today unexpected well it's friday and i was read yesterday my main account had sort of low expectations today but i got green now uh what we've had a little bit of in the last couple weeks is this sort of um low flow low volume fomo momo where we've seen these kind of big exaggerated moves on light volume stocks and low float stocks hlbz today traded that in my main account and did really well it initially started on pretty light volume and took off but the first trade i jumped in and man it ripped it moved fast and i got green in small account and i added for a big trade in the big account and i lost on it so between the two accounts i'm down twelve thousand dollars so i'm red i'm green in the small account but i'm red in the big account and i'm a little disappointed so i'm going to talk about that during the recap the fact is these low float low volume momo stocks they can produce big winners but they can be so volatile if you don't get in the right spot or you end up chasing it too high which is what i did in my main account you can get crushed and so these types of parabolic stocks can be my like achilles heel in trading because i go for them because i see the big potential and i sometimes get the big win but i also very often can get crushed on them because i size up too much too high and then sometimes they just run into a wall a huge seller you don't know if it's a institutional seller an inside person selling you don't know what it is but you hit the wall and then they can tank and that can be really bad and it's hard to know with certainty over a long period of time what my net profitability is on you know sort of those particular types of stocks i talk a little bit during the large account recap about my metrics just based on volume and the majority of my profit is on stock that has at least 25 million shares of volume by the end of the day so those are stocks sometimes that start on light volume but continue going higher because usually they have a good catalyst they have news et cetera et cetera so those are the ones i do the best on the ones that are light volume well sometimes the biggest ones start light and then they take off and other times they start light they pop up they fade and then that's that unfortunately that's what ended up happening today in a small account so i got green because i was aggressive jumped in but then in my big account chased it thinking you know home run potential big big move fireworks i think i was trying to recoup some of the loss from yesterday well i ended up losing 17 000 bucks on it so up 5 000 in a small account down 17 in the main account not a smooth day but a good day to recap as always and i hope you guys enjoy it in case you already know trading is risky most beginner traders lose money and especially with these really volatile stocks these can be great but they can also be really risky so trade cautiously assume you will lose money and trade in a simulator until you have proven profitability if you're profitable a simulator that's when and only then you start to transition into real money but always starting with small share size then increasing as you gain confidence experience so on and so forth my results are not typical so you shouldn't try to blindly follow me or anyone else all right take it slow hope you enjoy the recap i hope you also watch the large account recap and i'll see you back here on monday morning have a great weekend [Music] all right everyone so today is day 42 small account challenge and it's a surprisingly big green day now what's disappointing is that the stock that i'm agreeing on in the small account i'm down 17 000 on in the main account which puts me down 12 000 on gdev i didn't take any trades on hlbz in the small account but i did trade in the big account for 43 000. so once i was read in the main account on the stock gdev i set the small account aside and my goal was just to try to reduce the damage in the main account so if i hadn't gone right in the main account i probably would have traded hlbz in a small account but unfortunately because i was red i had to just focus on recovering the loss which i did manage to do on hlbz but anyways it was kind of rough so gdev hlbz both of these initially light volume stocks that started to squeeze up both had news this morning hlbz ended up being the one that held gdev was not so gdev um as i sat down to look at the scans the first stock i looked at was crvs and i thought okay this looks interesting over 375 and i put out an order so it was ready to go at 375 but i didn't didn't click on that uh didn't click the buy button i just had it basically entered so the way i would do that just for instance is to go crvs and i can press shift three which is the max shares i can take based on this price and then i would enter the order like that and then i i can click the buy button when i'm ready all right so i had it ready to go and then someone said gdev and i pulled up gdev and i looked at the daily chart on it and what i saw at the time was that all-time highs were 1105. so i saw 1105 i saw that it had news at 7 a.m and it was starting to move a little bit now it was on light volume so initially and we can even go into the 10 second chart on this so you can see with a bit more um detail so initially when i looked at it it was around 11 58 or something like that 11 53 and i was like okay that's interesting i don't know it's like it's light volume i don't really know i'm not sure um i'm not even sure if i really looked at the volume but nothing was really happening so i looked at some other stocks i was looking at crvs i was looking at um ipha which was another one hlbz the news hadn't come out yet because this was a little before nine and in this candle right here it spikes up to 12 68. i saw that and i thought oh man here we go because that's a that's over a dollar a share then it goes up to 14 12. now the problem for me on this um is that i've taken a couple trades on light volume stocks like this recently and i've gotten smoked i lost on um one trade like this in the small account and it was a big loss it was two dollars a share and i had another one in my main account where i went from up 27 000 on it and i lost 60 000 and finished down 30 000. so i was a little bit hesitant but the fact that it had already squeezed here from 50 to 14 i was like man i i can't i can't not take it so i punched the order in the small account for the break of 14. i bought it 14 1 uh 50 whatever shares so this is twice the shares i traded because i bought and i sold so i bought and then it squeezed up uh to 15 and in my main account i added at 16. it squeezes up to 17 and up to 18. in my main account i added at 18 not in the 1890s and i added again at 1993 so i added in my main account basically at the highs and on this what i was thinking about were some of these stocks that have made these epic moves pre-market given the fact that this is a blue sky setup it has no uh nearby resistance it's a blue sky trade above 1105 these are ones that can make big moves so i started getting aggressive and adding thinking we were going to see 25 maybe 30 thinking about glsi and some of these other stocks have made huge moves once they start to move they can really take off and at that moment it was uh i think the second or maybe the first leading gapper it was tied with crvs but what i didn't check was the float i didn't even look at the float it was moving and i jumped in on the first pullback it retraced we didn't get a first one minute candle to make a new high i sold in the small account i took the profit and in the big account i added i averaged down i averaged down and tried to dig my way out of the trade hoping that it would come back up to 18 19 and 20 hoping that the first one-minute candle to make a new high would resolve correctly and back through the highs and hope of course is not a strategy and i was holding it from at one point green as it hit a high of 2086 and it showed 25 up on the ask it was maybe one or two tiers away but i was thinking wow this thing might this might give us that surprise fireworks move and ended up did that it didn't and i stopped out in the main account and lost seventeen thousand seven hundred forty three dollars so this is sort of a um bittersweet day because on the one hand it's a it's a good day in the small account it is but it feels so disappointing that i lost as much as i did in a big account and it's discouraging that it didn't hold up so then when hlbz started to pop up initially i was cautious because i was already read on the day and i was approaching my max loss so i didn't trade it in a small account at all i just traded it in the main account and then this one ended up squeezing but i was so timid as i was trading it and this thing ended up going from 10 all the way up to 1819. it became the leading gapper at 9am when the news came out it became the leading gapper and all of a sudden the focus shifted to this stock and gdev was the chart was ruined it popped up and then it had just faded so you know it's tough on those types of stocks that pop on light volume both of them hlbz and gdev were light volume initially and uh hlbz's the end the one that ended up being stronger of the two and perhaps the float was an indicator perhaps that the news broke right at 9am and hlbz immediately responded was also an indicator but it's it's just a little discouraging and then you have this etrf uh that we traded last week or earlier this week um so etrf flowed 16 million shares on this one and you got that afternoon squeeze on it from 12 up to 20. so a big big move but also on light volume and i i was disappointed that i had missed that one uh but then it came down and then the next day wednesday squeezes up and makes an even bigger move but again on light volume this initial move right here was like a hundred thousand shares and it had gone from ten dollars all the way up to fifteen fifty and then up here it goes from 28 all the way up to 40 bucks relatively still on lighter volume higher at that time those increase in volume so yeah today's a day where i feel a little bit frustrated that i kind of bought right into a squeeze i thought it was gonna make a big move and i thought in the small account i was gonna cross thirty thousand dollars today i was like the small account this thing goes to twenty-five dollars this is gonna be a twelve thousand dollar winner so i got too aggressive and i'm glad at least the preservation of the small account because i didn't add higher and higher and higher and higher i didn't i wasn't adding higher and higher i just took one ad at least on that one even though it came back down i was still able to sell for profit but in the big account i added way too high and i took a good size loss so i'm discouraged on that uh hlbz while it's a really nice 43 000 winner in the big account i didn't get any of it in the small account and the first 20 000 was just digging me out of the hole so today is it's a green day for the small account and it's a green day for the big account but it's not it's not the greatest day i'm i'm discouraged that we didn't have better momentum and it's a reminder of imlp from last week this one that i lost 30 grand on you know i don't understand why we sometimes have stocks that have great news imp impl had great news and ended up that it's now down over 50 from when that news came out i don't understand that but i guess that's not for me to worry about as a technical trader just focus on the technicals and don't get fixated on what a stock should do or why one might do this and another might do something else we don't know when we have insiders or institutional traders that may be selling into a big pop we have these algo spikes we have bull traps we have bear traps in the market let's be honest can be irrational it can be irrational in a way where we see a stock like glsi uh go from you know what was this eight dollars to 150 bucks in one day and it can be irrational where we see a stock that can go from 100 to 20 in one day or from 20 to 10. so the momentum goes both ways and for those out there that are learning how to trade you know trading is risky and you got to practice in a simulator before you put real money on the line but trading does not come without risk and i step up to the plate when i think something's going to go up i buy and i keep adding and when i'm right i could throw down some huge green days i had a in my main account i had 102 000 green day on wednesday so stepped up to the plate and ip indp initially this was another one that started on fairly light volume a fairly light volume move right here news came out and it goes up to from 9 all the way up to twelve i missed that move but then caught the next leg of it going up irnt another one from this week lighter volume this move uh at six in the morning in one candle from 45 to 60 on 127 000 shares of volume so for traders that were either in prior to that or were able to take profit into that it's an opportunity but it's risky stuff so for those that keep trading today trade cautiously i hope hlbz does hold up it's pulling back a bit more right now than i'd like and based on how indp finished on wednesday i'm a little bit concerned about whether or not we're going to see good staying power we keep seeing these you know move and retracement and i don't like seeing that i want to see multi-day continuation we got a little bit of it on irnt we got a little bit this week on opad opad had some multi-day continuation but i'm looking for some you know really nice multi-day condition a continuation i'm trying to think of um lmpx this was one this was an ipo in december of 20 um 2019. this this is multi-day continuation when over the course of several days they continue higher boy i can't wait till we have some of that again it only strengthens the intraday setups when you have that multi-day continuation and right now we're seeing a lot of pops a lot of drops a lot of nasty bull traps some big flushes and if you're not careful the gains go quick and today and yesterday were both nearly red day recaps for me yesterday was a red day today was nearly a red day but you know this type of rejection right there that one right there it's not fun so i feel for those that are red on hlbz it could have happened to me those on gdev that are red i'm red too and i know how frustrating i'm redneck between my two accounts i know how frustrating that is i'll be looking forward to seeing clearer and cleaner momentum and i still struggle with not knowing which ones are going to go and which ones won't of course if i always knew then i wouldn't have these big losses when i have them but that's just part of trading and this is the part trading that makes it so hard to manage risk especially in a small account but just in general is by the time they start moving then you feel like you're chasing it so i did chase this and on h um lbz i was nervous about chasing it because of what had just happened but i did it anyways i chased it anyways and that's why i said i said i'm gonna embrace the chase i'm just gonna i'm gonna go for it and man this thing just went 12 50 to 13 to 14 then from 14 to 15 to 16 to 17. that's the one that that worked and it continued at the open so maybe today i was a little too trigger happy jumping in on a setup that was moving quickly without first checking the float which is an important part of due diligence had i checked that i might not have taken the trade so that was a mistake on my part and hldz if i had just taken this one i would have traded it more aggressively from the start because i wouldn't have been on the defense and in the red although maybe i wouldn't have made as much in my small account today it's hard to say maybe i would have made even more this one ended up having a nice move and it held its levels really well so i don't know but anyways in any case that's it for me uh green day in the small account day 41. i'll be back at it on a month no wait today is day 40. uh is today day 42 yeah today's day 42. so i'll be back at it on monday for day 43 and hopefully we can start the week with a nice gap scanner and some nice momentum all right that's it for me trade cautiously and i'll see you guys on monday morning 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]