Day 4 of My New Small Account Challenge | Recap by Ross Cameron transcript

good morning everyone all right well another day begins here it's day four but i gotta go drive out to my trusty parking spot i i like to have a nice view when i trade so i get the bus started here we go all right in reverse and we're going to back out oh got the emergency brake on always want to double check that before you put your foot on the gas forgot today a little smoky back there the engine burns a little oil all right so i just kind of back up like this just a nice steady i just go in reverse so just one gear just that way i don't have to turn around and go in the first and then go see it so they just back up it's going reverse all right and this this spot over here is kind of nice because it's a little shady uh and i think that's gonna basically do it right there yeah all right ready for day four the small account well before i can start trading this goes without saying but i've got to connect ethernet and power so you know this is van life of course i've got my ethernet right here and i've got my power right here i keep these on the wood pile that way it stays nice and dry when it rains i drag them out over here lift up the back so knock that up oh can't do that with one hand i just don't have the upper body strength wow i guess 10 years of trading really really does eliminate any muscle mass okay that's good to know all right and then these guys i kind of do like a little lasso type of thing i sort of sort of swing them up there like that and then i just go up front and grab them so i don't know what day 4 has in store for me yet i haven't even you know turned anything on here we go in and gotta do the same with ethernet okay in all right ready to go so i i haven't even looked at the gap scanners yet i i hope i pray for some nice momentum today but i'm a little skeptical because i yesterday was a bit choppy we didn't have a lot that looked really good so i guess we'll see how things look and of course as always i'll break it down for you guys during the recap now in case you thought trading was easy i'd like to be the first to remind you that it's not most and they're all foggy see it's kind of humid in here most beginner traders lose money in fact even traders who've been doing this for a long time still manage to lose money so i would encourage you if you're thinking about learning to trade to trade in a simulator before you ever put real money on the line if you can't be profitable in a simulator you shouldn't be trading with real money it's really that simple so trade in a simulator and then flip the switch and now we're going to get into my recap as always my results are not typical i don't even know what the recap is going to be but as i sit here and start to get things loaded up it looks like we've got some gappers so let's see what day 4 in the small count challenge holds [Music] all right everyone well uh this is day four of the small account challenge and i finished up uh 204 dollars and 58 cents before fees and commissions be a little under 200 after fees and commissions not bad for day four but you know i almost didn't take any trades today at all because you know i just wasn't totally sure we didn't have a fantastic gap scanner you know we had a couple things that looked okay but nothing that looked absolutely amazing and so for that reason i was a bit more cautious and i just well i just took one tray that's what i was gonna do anyways but um so let's look at it was sgoc uh let's see um so this right now is at 12 19. so first of all this stock was on our gap scanner this morning uh in fact it was the second leading gapper in the entire stock market but it was only gapping up 24 it wasn't really the biggest gap that we've ever seen and this is what's on the scanner right now but sgoc was our second leading gapper and what i liked about it in contrast to the leading gap or glg glg was too cheap i'm not going to really trade one dollar stocks not really into that io too cheap um let's see there were a couple others here fr ln very light volume lizzie i've traded it before haven't done super well on it so kind of didn't have much interest in lizzie i said maybe it was interesting if it could break over i think it was 265 275 right there um but it couldn't so no trades on lizzie and then sgoc you know i missed it yesterday it did put in a big move um or actually i can't remember maybe maybe it was the day before that but in any case there was one day that i really felt i missed it and um i think it was yesterday actually but you know you got this nice squeeze yesterday morning and so this morning as i saw it on the scanner i started looking at the chart and i thought all right we've got this descending resistance line you know could we get a squeeze up to that level which is about around 14.13 and i decided to give it a stab and so if we dial this in here on the 10 second chart what you'll notice is that we actually had this morning and what i would call an abcd pattern so let me go back a little earlier we've got a couple other little areas where it did pop up um but so this was this was where i took my trade so right in here you could see it started to pop up right in this area from 12 up to 13. it pulled back we had this period of kind of consolidation and i first tried to buy at 1287 and that was right here i didn't get filled on my order and that's the order you'll see right here um that i ended up cancelling so it pops up a little higher it goes up to 13 14 it dips and i don't know if anyone knows the name of that pattern right there those on youtube and facebook you might not know it but that's a one that's a 10 second abcd pattern typically we would trade that on a five minute chart or one minute chart but it is an abcd pattern so it's one of the patterns that we talked about in the classes and we actually talked about it in uh the free day trading 101 workshop that i gave you guys a link to the other day but the link is in the description if you do want to register to it so anyways this is a abcd pattern a pop-up a pullback pop-up a second pullback and then a breakout and so i jumped in for that breakout it pops up here to 1370 it pulls back it tries to go higher on another micro pullback it's not able to it dips down i took the profit off the table it pulls back and then i traded it in my main account and we've got this trade at the open up to a high of 14.42 i'll do my big account recap separately but um you know i kind of i also said we've got to be really careful on this because while it has a history of popping up it's actually popping up just a little bit um right now as you can see it also has a history of dropping so it's coming right back to that yellow line but this history of popping up here uh and we can see it on the on the one minute chart pops up and then drops look what it did earlier yesterday pops up and drops it has this kind of history so you got to be careful on it i was careful i didn't overstay my welcome in the small account i left a dollar a share on the table because it went up over 14. so left money on the table but i got green so traded the total value of this trade was a little over five thousand dollars my account this morning starting balance was five thousand five hundred twenty seven dollars and eight cents produced about two hundred dollars of profit smaller green day uh it's about not even five percent growth in the account today but uh you know at the same time it's not bad four percent growth or so it's still a really decent day for a small account challenge and one trade kept it kept it green one trade a day is a small account way so uh i'm happy with that and it finishes the week here with a green day so four days in uh decent progress didn't trade at all on day three but day four was good so keeping the recaps short here so you guys watching them uh down the road can just kind of you know go through them quickly so day one day two day three and there's day four in the books about two hundred dollars of profit and i'll be back at it first thing on monday morning with day five all right i'll see you then monday morning day five and hey as a reminder if you didn't already know trading is risky most beginner traders lose money and i encourage you to trade in a simulator before you ever put your own money on the line all right have a great weekend and i'll see you for day five 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