Day 30 of My New Small Account Day Trading Challenge | Recap by Ross Cameron transcript

[Music] what's up everyone all right so today is day 30 of the small account challenge and i'm finishing up just over 400 a little bit of a smaller green day here to finish the week it's friday but a green day nonetheless i took three trades i had two winners and one loser i was up at my the most a little over 500 and then gave back a little bit off the top on my last trade i lost about seven cents a share on a 1500 share position so not bad not not a bad loss so that finishes the week and that means right now uh at day 30 so i'm crossing just over 16 000 in equity in the account i started 30 days ago with about 4 dollars so i've made some really nice progress here over ten thousand dollars now uh the first ten days were pretty slow if you recall my focus was one trade a day one trade a day is a small account way so i was in the groove one trade a day between day 10 and 20 i start taking two trades a day and between days 20 and 30 i started opening up to three trades a day or if i saw a trade or a stock that was really strong i would just trade it as actively as i wanted to especially between uh day 24 25 26 my 7 28 and well today day 30 i didn't trade too much but so now i'm kind of taking um you know some of the um some of the i don't know what you should say training wheels off and trading a little bit more actively i'm not using leverage in the account yet there may be a point where it makes sense to start using a little bit of leverage but right now i still have it turned off so just using the cash balance so between day 30 and day 40. my approach is just going to be when we find a stock that's really strong i will be actively trading so i'm not going to restrict myself to three or four trades a day i'll just actively trade it but focusing my trading on the morning so between 8 30 and 10 30 in the morning eastern standard time that'll probably be the focus of when i do the most trading in the small cap my goal is still 30 000 so uh i'm 14 000 away from that level and it's taken me 30 days to get to where i'm at now but i suspect over the next uh 30 days if i go all the way to 30 days the account's going to be growing faster because i've got more equity i can take larger positions so i don't think it's going to take me 30 days to get to 30 000 at this point another 30 days i think i'll be able to get there um quite a bit faster in fact if i am hitting a thousand dollars a day average over the next 14 15 days i'm gonna get there uh in the next two three weeks so uh anyways uh that's that's what's uh coming up and i thank you guys for tuning in as always in case you already know day trading is risky my results are not typical and the typical experience is that most traders lose money so you should assume that you'll lose and with that assumption mind trading the simulator before you put real money online thank you guys for tuning into the recap please hit that thumbs up comment below and i'll see you on monday morning for day 31.

[Music] all right everyone so uh today is day three of a small account challenge up 406 dollars and 67 cents the big momentum stock today was uh sprt however i did not feel like i could really trade it in a small account because of share size right now i could only well right now at 37 dollars i could buy 300 shares which actually isn't bad but when i was up in the 40s and 50s i was only able to buy 100 shares and it kind of squeezed up and i i chased it in my big account and made some money on it but i just didn't feel like i could really justify the risk uh to chase it in the small account so i didn't maybe i should have but i didn't so small account the only stock i traded was this um rnxt which uh had a sort of big move pre-market it squeezed up from 8 all the way up to 16 pulled back and then um as we started squeezing up right here i jumped in it uh as it broke over let's see uh let me zoom forward here so it was right here in this green candle i got in at 880 sold at nine got back in 925 sold at 938 got back in at 9 49 sold at 9 42. so those were the trades there on um rntx two winners one loser and nothing else really showed up today that was kind of the right price range for me to trade i almost took a trade on bbig right in this area and then i just say you know what the float 60 million shares i don't think many traders are watching it right now all eyes are on sprt i just took a trade on rnxt it didn't work out that well so you know what let's just let's just take a breath and that was the right move it didn't end up really breaking out that much sgoc popped up a bit i was watching that neuro popped up in bed so had some stuff i missed today i didn't trade at all yesterday i i wish i would have liked to have traded a little bit more today you know even now seeing that oh actually i could buy like 400 almost 400 shares of sprt you know it's a little tempting to try to go for a trade but you know it's 10 15. it's getting later in the morning we're seeing volume um since uh pre-market um sorry since the open volume has started declining so it's better not to overstay my welcome i'm green i'm going to be grateful for that so this account which started 30 days ago at 4 300 bucks is going to be crossing over 16 000 today so it counts up um you know well times four which is great so that that's some nice growth from 4 000 to almost 16 uh just over 16 000 and we'll see what the next 10 days bring for me i haven't really made like a strong game plan of how i'm going to be trading over the next um 10 days from day 30 day 40. between day 20 and 30 i started trading more frequently so rather than restricting myself to just three trades a day if something was strong i would just trade it um i think that's fine i think i'll probably keep doing that between days 30 and 40. i could use leverage at a certain point start using like you know two times leverage or three times leverage or something like that but but for right now i'm not doing that it would speed up the account growth obviously but i don't really i feel like i need to speed it up that much at this point i'm moving along well enough so uh oh and there's neuro popping up through 15 so that one's moving a little higher so you know stock like neuro right now um let's see my share size would be 900 shares you know so it's it's big enough that i could um you know if i got a good trade on something like this of 30 40 cents i could you know be nice the daily chart has a little bit of resistance coming up here around 16 but the main issue you know it's up 50 but there's no news on it and it did have this really big move but then because it sold off that feels a little bearish feels like there might be some bag holders and might be some people that are going to want to short against these pops so as it starts pop enough short for the kind of next uh roll kind of back down so 15's got a little bit of resistance and then there's some right there in the 15 somethings and then you've got room to 16 so it needs to clear 15 59 before it really opens up on the daily but in any case it's friday it's august and i think it's better just to shut it down take the 400 off the table and come back tomorrow or on monday for day 31 so that's it for me day 30 is in the books a smaller green day but green is good and as always my results are not typical you should assume as a beginner trader that you'll lose money with that assumption in mind trade in a simulator before you put real money on the line all right thanks for tuning in i hope you guys have a great weekend and i'll see you on monday 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]