Day 13 of My New Small Account Challenge | Recap by Ross Cameron transcript

[Music] what's up everyone all right well uh today is day 13 of the small account challenge a little nervous you know 13 feels like well you know you think of friday the 13th uh 13 day i don't know i mean you know there's a lot of buildings that don't even have a 13th floor they just skip right over because you know people get a little anxious about number 13. so unfortunately i knew it was day 13 as i sat down because the first thing i said was okay guys here we are day third oh my god and i was thinking about it immediately so i um took two trades today and the first trade was 250 winner the second trade was a 14 loser approximately so i'm up 240 on the day before fees and commissions not bad and that's going to be the end of the week for me i'm not going to be in tomorrow so um the account is growing i started about 7 200 today up you know another 240 dollars will put me up close to 7 500 going into the month of august which means my account is up almost 75 percent here uh since i started trading it uh which was about three weeks ago you know slow and steady wins the race absolutely this isn't tripling an account overnight i'm not trying to do that i don't think it's uh would be a smart move for anyone to try to do that what i'm trying to do is take one to two trades a day one trade a day during the first 10 days two trades a day here now up to day 20 and then maybe three trades a day moving forward towards the end of august if i continue to generate some success with two trades a day realistically every day so far that i've taken two trades i've had one good one and one that was either break even or a small loss i haven't had a day where i had actually two trades where both of them were really good um i don't know why that's just the luck of the draw i guess the first two days that i took two trades i had the break even one first and the good one was second uh yesterday i actually only took one trade and it was a break even trade basically and today the good trade was first and then the not as good one was second so but anyways um i hope you guys enjoy the recap and i'm excited for august i'm excited for this account to continue growing i do have a goal of turning it into approximately 30 000 and then donating uh 25 000 to charity when i make that donation it'll put me up over one million dollars in charitable donations which i'm excited about so uh i'm making slow progress i still have like 23 000 to go but my feeling is that i don't i shouldn't focus too much on the number just focus on continuing to take good quality trades profits will follow and usually it is the first few weeks in a small account that are the slowest because you don't have the buying power to take big positions and right now this is the first time i've done a small account challenge where i haven't used my leverage so even though i have four over forty thousand 000 in buying power right now i can't i'm not using it i'm only using my cash balance which is seven thousand dollars seven thousand two hundred so you know even a nine dollar stock i can't buy a thousand shares of it so it's slowing me down for sure so it's extending this kind of account growth phase which usually be faster using leverage but it's a little slower and i think that's safer and it's a you know it's a fun challenge to do it this way but it does it is extending out that 25 000 donation a little further than i thought so i'm kind of like oh man i thought i was gonna be there already but that's okay um it'll come and uh you guys will be able to keep watching as i make progress so i'll see you uh on monday for day 14. and as a reminder in case you didn't already know day trading is risky i think we all come into the market knowing that we have a great likelihood of losing money and you know it happens i have i've been on a cold streak for like the last two weeks in my my large account i had some profit and some loss and some profits and some loss last two weeks in my big account uh i only have about i actually have ten thousand dollars in total losses even though i had a couple of huge green days i had several medium-sized red days and i don't have any profit in the last two weeks i've gotten a small loss so you know trading is risky and you should approach trading with caution assume you'll lose money and with that in mind trading a simulator before you put real money online do yourself that paper all right so i hope you guys enjoy the recap and i'll see you for day 14 on monday [Music] all right everyone so uh small account recap day 13 and i'm up 240 dollars and 60 cents i did have my second losing trade today i took two trades i bought uh flgc at 961 and sold it at uh 10.95 then i added back at 9.75 and sold it at 9.73 so a two cent loss there from 75 to 73. so that's a small loss 14 loss on 700 shares it's not bad it's totally manageable and i am okay with that so this is the flgc chart a momentum stock from yesterday that made a uh you know pretty big move yesterday and then after hours pre-market this morning but it was pulling back a little bit by the time we were coming into the open so my first trade was um right let's see it was actually right here uh i believe that was my first trade on it i bought that dip right there and then i had this trade right here and then there was another one uh let's see where was it no sorry um i think this was the first trade right there and this was the second trade and i stopped out of that one break even so those are my two trades i bought off ascending support this yellow ascending support trend line and i was looking for a breakthrough um the the high of the v web 1010 uh now i'm looking at that entry and so the high that candle was 95 and my exit was 10. so yeah it must have been that i sold um right there but maybe i did get in right here oh i can't remember i think i think i did actually i think i got in right here and i got filled at 61. so i think that was my first entry and i think this was my second entry because i don't think i filled one two cents off the low usually i wouldn't get that good of a fill because i buy on the ask so i bought the ask and then sold on the ask as well i did put out some profit target orders here and here now they didn't get filled i put out some profit targets here and here they didn't get filled and then i did a test order here for someone who has had a question that that wasn't something i was actually trying to buy day 13 in the books started this morning um with 7 22.49 added 240 so i'll be at 7 500 approximately not quite but approximately so i started the account with 4 300 so that means the accounts up about 3 which is um not bad at all versus the 4 300 starting balance it's up about 74 so this account is growing slow and steady this is day 13. i'm not going to be trading tomorrow so day 14 will be august 1st it's a slower time of the year it's not the time that i really expect a ton of momentum so it'll be a lot of kind of small base hits but small base hits of 100 200 a day are totally fine that will keep the account growing and i don't i didn't really set any goal for myself for what number i wanted the account at the end of the month because it doesn't really matter the profits follow as long as i focus on good quality trades the profits will follow so you know whatever the account uh ends at the end of august doesn't really matter i mean hopefully it's green but it is profit but at the end of the day as long as i sit down here focusing on one to two good trades a day my accuracy should stay high because i'm being selective and i should continue to generate some profits in the account so that's it uh here for day 13 a quick recap not much to cover but i'll be back at it on monday morning all right see you on monday for day 14. 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 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