Day 27 of My New Small Account Day Trading Challenge | Recap by Ross Cameron transcript

[Music] what's up you guys well i'm not going to sugarcoat it it's a red day down more than 10 in the account it's the biggest red day of the small count challenge here on day 27 both in percentage and in dollar amount i'm down about fourteen hundred dollars now uh what's interesting is that it puts me back in about twelve thousand in the account i started this morning at fifteen uh sorry thirteen thousand six hundred eighty seven dollars i think it was i'll confirm it during the recap uh lost fourteen hundred so i'm back down to around twelve thousand what's interesting is that i made 14.95 so 1500 on friday so it basically wipes out what i made on friday puts me back to where i was on thursday and on thursday after two huge green days in a row i felt phenomenal you know my account was growing i had had a 2 000 green day on the 24 on day 24 then made 2500 account was up 25 on day 25 and so going into friday i was feeling amazing yeah my account was the same exact size as it is today but i was feeling really good and that's gonna be the big difference tomorrow i'm not going to come in tomorrow feeling phenomenal feeling like i'm on top of the world feeling like i'm on fire i'm going to come in feeling this sense of disappointment knowing that i had been up x amount and then given it back that i had just experienced a loss and that emotion that disappointment is going to make me much more susceptible to falling into the traps of the market the bull traps the traps emotionally where you jump into something you revenge trade you give into fomo because you feel that urge to make back losses so i've got to be really careful tomorrow the account may be at the same number but i'm not in the same mental space so the rest of this week i've got to go slow and steady just try to put some space between me and this big red day break the trades down from today in the recap this is a perfect example of how easily profits come and go trading is risky most beginner traders lose money and you should assume therefore that you will lose money as well and with that assumption in mind trading the simulator before you put real money on the line my results are not typical so take it slow all right i hope you enjoyed the recap please hit the thumbs up for the transparency it's a red day recap this is valuable for you guys just as much maybe even more than green day so please hit that thumbs up and i'll see you tomorrow for day 28.

[Music] all right so i'm going to do a recap here it's a red day it counts down 10 started this morning with thirteen thousand six hundred eighty seven dollars and forty four cents down fourteen hundred bucks so this is a red day for sure uh it's disappointing the last trade there that i got read on was buying the dip on rgc on resumption from this hall and stopped out right down here lost um as it has obviously failed to make new highs i was looking for a dip and a rip back up towards 1858 we just didn't get it but the one that got me the worst was vvos and it's discouraging to see it squeeze up to 70 708 709 here and for me i traded it uh early i traded it pre-market and my first trade on it was right here i bought at 7 30 for the break of 7 35 this flat top it hit a high of 740 reversed and sold off all the way to the v web i stopped out and lost 650 bucks on that i then got in for a dip and lost on the dip as well down 750. i then got back in um let's see it was right around i think it was right here lost on that one went down 900. then i got back in right here and lost again down 1200. so this one i mean i just couldn't get dialed in on it and i don't think i had a single winner in fact no maybe i had no i don't think i had a single winner on it i think i had like six trades on and not a single winner which is terrible and then to see it now you know from the low of end up going up to seven dollars is is frustrating but there's nothing i can do i mean i'm it is what it is now and below my max loss on the day i can't keep trading so it's a bad start to the week uh it's never fun to start the week like that because it just sort of sets the tone emotionally like you know you've sort of dug yourself this hole and now the next couple days you keep feeling like oh i want to try to make back what i lost on monday and it just unfortunately sometimes puts you in a tricky head space which isn't great especially kind of going into the last week of the month although i could uh you know i think what is probably important uh and of course makes it easier in the small account tomorrow we'll be being very quick to cut losses and be a bit more picky on my first trade to try to get green to try to start the day in the green and you know clearly if i get some good trades i can do really well the way i did last wednesday thursday and friday but today i gave back everything i made on friday i was at 1500 on friday and i gave it all back so back to where i was at the end of the day thursday now at the end of the day thursday i was feeling really confident i just had two huge green days i was feeling really good so although my account is back to the same number it was on thursday emotionally i'm changed emotionally i'm in a different place because i feel the loss the frustration the disappointment and so that's going to be the biggest impact tomorrow is trying to manage those emotions and not let them you know steer me into bad trades where i give in to fomo or get too aggressive um you know and things like that so anyways it is what it is day 27 in the books red day biggest red day so far of the challenge both in dollar and in percentage that's the way it goes trading is risky easy come easy go and today i was on the wrong side of the market on um all the setups that i was trading so that's that's part of trading for you so that's it day 27 in the books 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]