Small Account is Averaging $100/day! | TD Ameritrade Side Hustle Challenge Day 4 transcript

what's up everyone all right well today is day four of my t v-- ameritrade small camp challenge and I'm up just under a hundred bucks so that means in four days I've been averaging a hundred and twenty-five dollars a day and yet counts up over five hundred bucks it's at over three thousand fifty dollars right now I started with two thousand five hundred which is a pretty small account it's certainly not as small as you could go you could go down to five hundred dollars or even two hundred with TD Ameritrade but I think you have to expect that your daily games would be proportionally smaller so if I'm averaging right now 125 a day with twenty five hundred if I had twelve hundred I might be averaging sixty-five if I had six hundred I might be averaging 30 if I had you know three hundred I might be averaging 15 and that's all okay for those first five six seven eight nine ten days because remember as you start to grow the account you're able to start buying more shares of the trade to take and your daily games naturally will increase and that's we're gonna talk about during today's recap and I'm gonna compare this a little bit with a small account challenge that I did last month which was a little bit different I started with 500 but I used an offshore broker that allows you to day trade with margin and leverage even with as little as five hundred bucks so very different challenge this TD Ameritrade cash only account it's a little bit slower but slow and steady wins the race and I want to prove to you guys that it can be done alright so this is where we're gonna hear day for $97 profit counts up over three thousand dollars and it'll be back in it for day five and hopefully we have another green day all right everyone so we're gonna go over our t v-- ameritrade small count challenge today is day four and i'm up ninety seven dollars and twelve cents on one trade on v IV e v IV e this morning was the let's see first second third fourth fifth leading gapper gapping up 38% float of eight hundred and thirty thousand shares currently with eleven million shares of volume pre market it had about two million shares of volume and was forming this ABCD pattern so an ABCD pattern is a pattern that can be traded both on the five-minute time frame also the 1 minute timeframe and basically what we look for is we've got the first high and then we've got a the low of this pullback be the pop-up but it cannot break the high c the next pull back and this pullback cannot break this low right here and then d is where you get in for the break over this high and so what you have here is this pivot it makes a high it pulls back and then it comes back up now initially right here this is actually a flag pattern but the flag pattern fails to result in a break through high of day and that can sometimes happen either when the stock is really extended or where the volume is light or where for whatever reason it just doesn't have enough buyers to break through the highs so then it pulls back and now as long as this pullback doesn't break the low of this first dip it's still bullish if it breaks this low right here what it's essentially doing is just stair stepping down then you would expect a small move here and then the next one down would continue to go lower and so this trend right here is just a stock trending down but because this this dip was not lower than this pullback it's actually showing strength its consolidating between the low of this pullback right here and the high of day so this is our there's a lot of lines on this chart but this is the range that we're working in and this is all technical analysis and this is what helps me establish a low-risk entry point which is what I need in order to grow what is a tiny account this TD Ameritrade account I started with $2,500 so I'm now up five hundred fifty one dollars and 56 cents in four days of trading averaging about a hundred and twenty-five dollars a day to make $125 a day if I'm able to do that consistently in this account over the course of a year maybe twenty plus thousand dollars from a starting balance of twenty-five hundred that by itself would be impressive but what you guys know is that once the account starts to grow of course the buying power increases and I can start trading with larger and larger share size and so if we go back and I'll show you the metrics from the small account challenge that I did in December and I'm just gonna pull this up here so I'm gonna filter this by tag cmeg there we go okay so filter all right so this is my my small account challenge that I did in December all right now this challenge was a little bit different from the TD Ameritrade challenge because I used an offshore broker now using an offshore broker and they don't enforce what we know is the PDT rule and that means they allow me to day trade or any one to day trade as much as they want in my TD Ameritrade account here this is a cash account which means I can trade the for the full three thousand dollars but then I have to wait two days for that cash to settle for it to clear it's kind of like every time you take a trade it's like cashing a check alright so now I've got to wait two days for this trade to settle before I can trade with that money again now over here in this cmeg account I was trading three four five times a day I didn't have to wait for the trades to settle they would settle instantly and I would be allowed to continue trading and that's the difference between a margin account a cash account but TD Ameritrade as a u.s. broker if you set up a margin account with 2500 which you could they would say you can only day trade three times every five days because that's the rule until you have over 25,000 so with a small account challenge here really the goal is you know how quickly can you grow it to 25,000 and then flip the switch and turn it into a margin account where you can start trading an unlimited number of times each day but even during and let's see I'm looking for the overview even during the first few days here of my cmeg account challenge and I can just do this like to the 15 let's just say you know my gains were really small $158 $12 170 for 427 350 198 and then a loss and then a green day right so the gains are pretty small and that's just relative to the fact that during those first few days of a challenge you don't have a lot of buying power so when you first set up a brand new account you've got to be super conservative about a quality setups trade the best leave the rest number one and number two being very mindful about how much you're risking on every trade you take so this is my trade on and vib alright so V I ve you can see right here I was in at a dollar 37 a dollar 37 with 1,000 shares now I entered by pressing 1,000 shares and then clicking the buy market button now you never know for sure when you press the buy market but and exactly where you'll get filled you know but hopefully you get filtered a pretty good spot alright so I'm in right here as the stock is starting to curl up for the break over 45 the pre-market pivot here the high of the level of a B is 46 so I'm looking for the break of 46 and then a retest of high of de which is 50 and this squeeze all the way up to 60 and so just like that I had a nice trade now in fact I ended up selling as it was breaking over the half dollar there was a little bit of resistance as it was coming up there I I wasn't sure that it was really gonna open up and a stock of this price range if you get a full 15 cents you just you're up ten percent and so when I was up ten cents I figured I better start taking a little profit off the table and so I put in my button here to sell 300 shares I sold 346 347 348 I did that by typing in 300 shares right here and then the first time I pressed joint asked and I couldn't actually tell if my order sold on the ask because my position size didn't change and so I I clicked cancel all and then I clicked sell market I was like you know what better just lock it up sell market and then I sold market again sold market again and then the last hundred shares I just sold like that and you can click these to change your share size so this isn't a home run day by any means but growing a tiny account isn't about swinging for homeruns it's about focusing on base hits and so today I got a nice base hit and I didn't use all of my buying power so I still have 1500 $79 a buying power left which means if I wanted to you know continue trading today I could or what would be smarter is that I save this buying power for tomorrow so that means I can trade basically half my cash today half of it tomorrow and then on Wednesday because today's Monday this money that I traded today will clear up so I can trade with that amount on Wednesday and then the money I trade with tomorrow will clear up and I can trade with it on Thursday and so basically if you put in twenty five hundred dollars you can trade with twelve hundred dollars every single day and as you grow the account then you can trade with a little more a little more a little more each day so making some progress here slow and steady that's kind of the only way to grow a cash account unless you're gonna try to do a kind of I don't know like Hail Mary pass by buying some out of the money options at ten cents and hope they go up to like a dollar but that would be very risky and most of those options will expire worthless so you'd have to really I don't know where you would get the confidence to do something like that with your tiny account but I wouldn't feel comfortable doing that so a nice day here day four and averaging about $125 a day so we'll see whether or not tomorrow will be day five I'm not going to be a stickler on trading this account every single day if I don't see something that I can justify risk on I'm not going to take any trades and justifying risk is a combination of the market we're in the price of the stocks that are looking good and these setups this was a very nice ABCD setup and it's unfortunate that it didn't hold up better GNP X was another one that I this was one that I traded in my main account we had a similar setup right here it wasn't actually an ABCD setup it was a pullback a flag pattern I was a little cautious on it because it was the third pullback we already had the first in the second pre market this was the third one out of the gates so I was okay taking it in my main account but I didn't feel comfortable taking it in small account it ended up being a winner but you know it's better to be safe than sorry all right so any questions on these trades in TD Ameritrade of course those you guys watching on youtube leave them down below in the comments and I will see you back for the next update in this small account challenge the next day that I trade in it hey have you seen my most popular video on YouTube it's got over 5 million views you can check it out right here and check out one of my other videos on YouTube right here I hope you guys enjoy as always if you have questions leave them down below in the comment section I personally respond to every comment that's posted [Music]