Day 29 of My New Small Account Day Trading Challenge | Recap by Ross Cameron transcript

[Music] what's up everyone all right well here we are small account day 29 and i'm finishing up 2800 bucks the account's up 20 today this is a terrific day the only disappointing thing was i had a fantastic setup and i could only buy 500 shares of it i wish i could have bought more but the stock was at 24. i had 13 000 in my account so 500 shares 12 000 bucks i really couldn't afford much more than that so i went in with 500 shares made three thousand on that trade lost 288 on another trade finished the day up 2800 bucks that is a terrific day so as always my results are not typical most beginner traders lose money you should assume you will lose money with that assumption in mind take it slow and train the simulator before you put real money on the line please hit the thumbs up comment below and i hope you enjoy the recap and i'll see you first thing tomorrow for day 30.

[Music] all right everyone so today is day 29 small account challenge i'm up 2864. and 82 cents i started this morning with 13 043 so let's see the math on that in terms of the percentage return 2864 divided by 13.043 just 21.9 now that is a terrific day it'll put me up uh just a little under 16 000 going into tomorrow uh rgc was the biggest winner and i bought 500 shares of it around 24 that was pre-market that was the most shares that i could afford to buy uh it was on a break of v web setup um let's see it broke the v right here and then this was a trade i took right there 24 15. i didn't expect it to squeeze up to 28 and then up to 32 but it did and i wrote the momentum and you know the the thing about this is that with with a 13 000 account 500 shares at 24 is 12 000 i couldn't afford to buy more shares i would have loved to have but i simply couldn't afford to and you know i mean of course that's been the story pretty much right along in the small account challenge but what's kind of a bummer is to have a stock go up from 24 to almost 40 a share 15 points and be able to make only 3 000 on that move you know it kind of makes me think a little bit uh because you know there's obviously like today for instance you know or let's say last friday last friday i finished the day of like i don't know three thousand dollars in my in my main account and i finished the day of 1400 in the small account and after i finished trading or maybe while i was trading but i didn't notice it this stock rgc started to squeeze up and it made you know a remarkable move and i'm sure there are people uh that traded it all day long on friday and didn't walk away with more than a couple hundred dollars and that is because of um you know as a factor of share size you know they traded as aggressively as they possibly could but with a small account they couldn't afford to take that many shares and so as aggressively as they could produce smaller profits you know whereas for me trading more aggressively even though i didn't trade that stock in the first hour of the day i walked away on friday up like 4 500 between those two accounts and i wasn't feeling super great about it because i felt like i could have made should have made more but you know at the end of the day uh i i i certainly made more in that small window than others may have made who traded every opportunity that presented themselves so i think being able to have being able to graduate to the level where you can go big get aggressive make the amount of money it might take another trader to make in six hours of trading in in just one hour because you're going big on the few trades you take and then so so you might miss opportunities later in the day but isn't the whole idea of trading that you don't want to be sitting in front of a computer all day long of course some do and some do for lack of anything else to do some do just because of the kind of um you know addictive power of making money and the you know the gratification that comes from finding success in the market and trading can be you know bit addicting on that level at times so i don't know but in any case i definitely felt some fomo that i missed that move on friday uh i think i traded it on monday and lost 6 000 on it which annoyed me even more and then i saw yesterday after hours that it squeezed up um right here and i was uh i wasn't on my uh computer at the time but i saw um i got a message i saw on a comment on youtube that this thing was squeezing up whatever so i was like i pulled up the chart on my phone i was looking at it and it's a good thing that i don't have a trading app on my phone because i was so tempted just to say you know what i'm going to buy 10 000 shares of this and swing it into tomorrow because it was closing strong and it's recent ipo kind of set up it's the type of setup that can make big moves but you know then of course this morning uh from that high yesterday of 24 25 it pulled back down um quite a bit to a low of about uh what was it i guess it pulled back down to like eight nineteen dollars um dropped no that's four a.m yeah um here we go so yeah i pulled back down to like 18 19. uh the low there was 1794 and then the break of the web set up and i as i was looking at this i was like i don't know guys it's running into descending resistance on this sorry descending resistance on this trend line right here it's going to have another one right here and it's got ascending resistance right here and it's got the v web at 30 bucks or no sorry it was 21 at that time so i was not sure it was going to work but uh when it once it broke v and held above it that micro pullback at 24.15 that was the place where i was like okay it's holding so got above it held above it and then from there off it went and you know as it sits right now um it seems like perhaps it's not quite done yet it's halting going up at 35 so if i find out later that this goes to 50 bucks or 75 dollars you know something crazy like that well i feel fomo i probably will but at least today i'm the guy walking away green on the stock that's up 125 that was not the case yesterday when i was trading tcat well i guess that was going on in my small account but i was right it went red on it in my main account i traded a little bit later so not overstaying your welcome being grateful for the profit being grateful for what you have um i was riding my bike yesterday and um i rode my bike through a cemetery and i have my son on the bike and he's never he we i've never we've never brought him to a cemetery before he's never been to one and he's just dead now what's this uh what what does what does rock what this rock what this and you know three and a half so don't wanna you know throw the downers on them too much listen man people die i'm gonna die someday so you know i try to like you know go gentle and i was like well you know these are uh you know these are these are stones that people put here to remember people that were really special and he's like and so we rode through it and i said um you know this is this is a place to be quiet and to be you know really grateful for the things that we have and i said that and i kind of was reminding myself and that was of course yesterday i um you know i had two red days in my main account this week and i was thinking about how i was not feeling very grateful i was feeling pretty disappointed and [Music] that you know listen life is short and try to enjoy it and try not to beat yourself up too much and try to be grateful for the things you have and not always be wanting for more and more and more because you can't have everything in the world nobody can so people that want everything will never be happy but constantly be unsatisfied and and trading you can never be the best trader you can never be the most profitable trader so if that's your goal um you will be unhappy because you will never achieve that one person in the world might what you know one person is but uh but that's that's never gonna be probably any of us so if you can carve your little piece of profit out of the market and you can have a couple of good days that's something to be really grateful for now that's easier said than done because i know trading is risky and i know that most people lose money trading i know that a lot of people work really really hard and still find themselves coming up blank and so uh when i got home later that night i was watching the deadliest catch on my phone and uh the for some reason this episode like really struck me because i don't remember which captain it was um but you know he said he said it's always a fishing's always a gamble and he set like a hundred pots um and he's like you know this is either gonna make or break our season right here and you know sometimes you're you're flush and sometimes your butt you know type of thing like that there's just this gamble in it and um he said you know this is this is what like this is what we this is what we live on and so as that first pot was coming up as they were picking up that string of putts the adrenaline was there the excitement is this going to be you know a full uh set of pots and we're gonna finish our season here or are we you're gonna have to go back and start over and it was you know a good set and they i think they finished up there you know but with trading sometimes it you know just feels like you're doing everything right you're just coming up blank not unlike uh having a slow stretch of fishing and you know with those guys with their um you know boats they've got you know they've got expenses they've got all these things they've got to think about um they're trying to run business and you know they they need they can't just be picking up empty pots uh all day long that doesn't work and likewise as a trader we can't just be breaking even every single day or skipping on trades every single day because we don't see anything we like or losing money every single day so that there's that pressure there's that stress and i guess the similarity is that uh you know unlike uh i don't know a a job where you're selling like widgets and you know you have predictable sales you just have to keep selling those widgets or whatever they are um you know trading you uh you know you eat what you catch and so you just you constantly have to keep finding those new opportunities and so that's where it feels that every day um every day has this level of significance and importance that is uh creates stress and that that can be hard to deal with and i can i can definitely relate to that because i still have that myself even after all these years of trading so anyways um so some food for thought there uh and then acpa that was a stock that had news at 9 00 a.m and it was halted then resume trading it was a merger i thought maybe there'd be something there but lost 280 bucks on it so those are my two trades two stocks i trade for the day rgc and acba 2800 green day accounts up 20 and i'll be back at it tomorrow for day third all right i'll see you guys then 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]