Day 26 of My New Small Account Day Trading Challenge | Recap by Ross Cameron transcript

[Music] what's up everyone all right well small account challenge today not bad not great not bad was up uh 20 today and this was the biggest green day i've had in the entire challenge today's day 26 and then one last trade took a dip and rip on a halt resumption got caught in a halt down and gave back almost half my profit on a day so i'm finishing the day up just under fifteen hundred dollars before fees and commissions fees and commissions are going to be a little higher today the one stock that i traded on a dip and rip was with larger share size so the commissions are going to be higher because of ecn fees but still finishing green up over 10 on the day which is great 12 500 approximate starting balance this morning 1500 gross profit that's a good day it's not as good as it was before that last trade but it's still a good day and i shut it down because it's always better to walk away with some money in your pocket than to overstay your welcome and end up going around so that's it for me day 26 i hope you guys enjoy the recap as always in case you didn't already know trading is risky most beginner traders lose money so you should assume that you'll also lose money with that assumption in mind trading a simulator before you put real money on the line my results are not typical i've been trading for a long time now these small account challenges are fun they're a cool way for me to kind of test out my skill trading a small account again it's not something i've done in a while so it's fun and this one's been a little different not using any leverage but now as the account is getting a little bit bigger and i'm trading a little bit more the profits are adding up so this has been the best week for sure it was 2000 or whatever it was on um wednesday 2500 yesterday another 1400 today fifteen hundred i mean these are three back-to-back big green days so now the account on monday is gonna be close to fourteen thousand dollars so i'm really starting to cruise up towards that goal which is crossing over twenty five grand and ultimately probably getting closer to 30 so i guess i'd say i'm about halfway to the 30 000 profit target for this account although on day 26 i don't think it's going to take me to day 52 to get there you know if i figure i'm halfway there took 26 days to take another 26 to get to that 30 000 mark i don't think so not if i keep doing two three thousand dollars a day or you know one to two thousand a day like i have for the last three days if i keep doing that i might hit that level in the next 10 15 days and of course if i get one really good trade once the accounts a little bit bigger i've got like 18 000. see this is where you start seeing exponential growth potentially because you know for the first well for basically every day of the small account challenge i've been trading with 90 of my buying power so however much cash i have in the account ninety percent of that i'm using for a trade now i would use a hundred percent but they don't actually have a hot key for calculating a hundred percent so you just use ninety percent that's just easy so anyways ninety percent of buying power now on the first couple days making only a hundred dollars my buying power was increasing very just incrementally but then as the buying power's gotten a little bit bigger now i'm starting to make bigger jumps so you know my buying power on i think monday was like 7 thousand and then i had a two thousand dollar green day about ten thousand now with ten thousand dollars in buying power yesterday had twenty five hundred dollar green day now it was twelve thousand five hundred and twelve thousand five hundred today i was up twenty now i'm up only 1500 but still you're seeing it start to increase and once i have 15 20 30 thousand dollars in buying power that's when i could start seeing five six seven thousand dollar green deaths and i'm not using leverage right now so uh you know with leverage that can be even more parabolic but just as easily as you can make money you can lose money because trading is risky so and today finished with a red trade not the way i wanted to go in the weekend would have felt better if i finished up 2600 but that's the way it goes that's training so i hope you enjoyed the recap please hit that thumbs up and i will see you guys first thing tomorrow morning now hey as a reminder um we're going to be starting back to school do classes for your pro classes this fall so i'm gonna be putting out some information about that um fairly soon to let you guys know the schedule and what we're planning stuff like that but uh if you're thinking about kind of getting into the mindset of wanting to learn how to trade want to start practicing we'd love to help you set that up all right so uh i will see you guys first thing on monday morning for day 27. enjoy the recap [Music] all right everyone so um today is day 26 small account challenge and i'm finishing up 1495.73 but last trade was an 1100 loss which was kind of a bummer so i'll break down the trades that i took today it began with gov x i took a couple trades on this i was looking for the break pre-market of 744 it was a little risky because i was buying this below the volume weight average price and it was kind of right at this yellow descending resistance line but i thought if it broke it and we broke view out we might get a squeeze back up to about 8 22. that was the idea so i took a couple trades on it made 164.56 and then it sold off so we got it we did get a tap at the half dollar 750 at the open but it wasn't able to hold that level so disappointing but um all's well that ends well so that's um govex next trade was cat b this was our leading gapper today because of a reverse split and i jumped in it as it did this red to green move and wrote the momentum on this um as it broke here let's see what was my first entry on it my first entry um 735 no no sorry that was the other one first entry was 722 on cappy took profit at 740 got back in at 750 took profit as it went up to 760 770 kept getting in getting back out we got to move on that up to 857 which was pretty good so on that one i made 2 477 dollars and 69 cents which is great and then you know coming into 10 a.m grnq was halted up at 7 40. i bought the dip on resumption uh right here in the 50s 55 was looking for the breakthrough 60 and move up towards two dollars it flushed and i was stuck in a halt down at 7.40 it resumed i added at 35 it didn't bounce and i stopped out that whole position at 34. so that was disappointing because i gave back over 1100 not quite half my profit on the day because i was up 2500 or 2600 but pretty close and so with that you know had to shut it down that was it i'm disappointed that uh i had that loss but you know it's just the way it goes it was a dip and rip set up sometimes those work well the only thing on this one is that i didn't realize how close the halt level was because see how the bit is so stacked up here you know the hot level could be one two cents away and you don't realize it you have to pull this up a little bit further to see it's at 111 and 141 going up so i didn't recognize how close the hall level was and that unfortunately meant i didn't sell when it dipped down to the 40s because i was like oh well dipped down to 40 will appear to pop right back above the half dollar and then i was gonna haul down so disappointing on that but uh you know all things considered the account this morning had let's see um twelve thousand five hundred dollars so uh 1500 divided by 12 500 it's 12 gain on the account today it was a 20 game before that last trade but you know coming into the market on monday i'll be starting a little under 14 000 13 700 or whatever it is so um that's that's going to be that's solid this week has been phenomenal for the small account i started this week with i think seven thousand dollars in the account or something like that so the account is almost doubled just this week so making some progress which is good yes i caught the biggest loss i've had so far in the challenge today but if there's ever a day to catch it it's a day when you're already well into green and this was my cue to stop trading here so it's about the same time as yesterday a little past 10 a.m i'm done for the day and i'll be back at it on monday morning for day 27 of the small account challenge as always in case you already know my results are not typical the experience of most beginner traders is that they lose money so you should assume you also lose money with that assumption in mind trade a simulator before you put real money online take it slow all right so that's it for me i hope you guys have a good rest of the day and i will see you 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]