What's up everyone? All right? Well, Day one of the Small Account Challenge is in the books. It's a red day. So first day here, I started with 2 500 in my account and I'm up 194 dollars and seven cents. But I over traded and I'm almost positive my commissions are gonna be more than that.

I think I'm gonna be down 25 or 30 today. Uh, I. I just. I was too aggressive and I mean that's just the bottom line.

I was too aggressive. I had initially planned that I would just take one trade, I would take one trade. If I got green, I'd be done. and I had one trade.

My first trade was really good and then I got back in. My second trade was pretty good and then I got back in. Then my third trade was a loss and or maybe it was my fourth trip. In any case, then I had a loss and then I was from that point on trying to get back to my hive day.

you know, I just really wanted to get back to that number and and I couldn't do it. and I turned commissions, insurance, shares and just start giving back more and more and more and more. And then I just got to a point where I was like I'm going to be read on the day after commissions. I better just stop here and not let it go deeper.

So I think this is a good uh. it's going to be a good recap for Small Account Challenge. It's a good reminder of the risk of over trading and why it's so important to get green and walk away. which is what my plan was.

but then I kind of got just hijacked when the market I started getting opportunities and I was like, okay, I'm just gonna, I'm just gonna trade and um, that was a mistake So this is gonna be a good recap. First day of small Account Challenge Not a big green day. It's actually the first of my four small account challenges. I think it's the first time I've started with a red day.

Although actually, now, come to think of it, um, the small count challenge that I did in December of 2019. I actually think I might have started that one on on a red day too. Let me just double check before, I uh, before I say for sure. Now for those of you guys that don't understand how leverage and margin work, I encourage you to come over to Warriortrading.com and check out our website because I will break that down for you.

I did use leverage uh on my trades this morning. No, it was my. It was my second day net profit where I was read by 18 bucks so 139 and then read about 18. So yeah, this is the first time I've ever done a small account challenge where I start on a red day but at the same time you know 30 bucks or whatever 25.

Whatever it is, it's it's already water under the bridge. Um, there's some good lessons I learned from from the first day. I'm not going to get bent out of shape over it. I'm not going to keep trading.

I'm not going to revenge trade, try to make back the losses. I'm just going to let it be what it is. It is what it is. An interesting first day one that I think you guys will benefit from and I'll be back at it tomorrow.

Uh, kind of recharged. Dialed in a little bit more after the results of today and hopefully day two will be a little bit better than day one. All right, So that's it for me. I hope you guys enjoy the recap and I'll see you first thing tomorrow.

What's up everyone? All right? So day one: Small Count Challenge Small Account frustrations. Um, today was kind of a, you know it wasn't wasn't really a great day. Yeah, I'm up 194. But I traded, um, 30 000 shares so my commissions are 94 and then my ecn fees.

um, are going to be another hundred dollars. so I'm I'm basically break even or probably red. I think I'm red 25 or 30. So it's a red day on my first day of the small account and I'm annoyed.

I had. um, you know, the small account frustration. I had my first entry on Osat at 8 20. I bought 1500 shares or about that.

so of course I've got 2500. but times six times buying power is fifteen thousand dollars. Those aren't familiar with which broker I'm using. I talk about it for students that are part of the classes, but it is a broker that doesn't enforce the Pdt rule.

So first trade at 8 20 goes up to 8 45, then it pulls back, then up to 8 68 70 880. I took profit off the table on the way up and was up. I don't even remember how much at that point. 600 700 I did a dip trade at nine which was kind of risky and got out of that and I was up about 1100 total on the day.

Fantastic! First day, got back in for another dip trade. held it for a while. Choppy Choppy Break even. Got back in for another trade for the break over 920.

Stopped out up 12 on the day. Wow. Then at the bell we get the drop red to green move. Got in that made some money back up 824 on the day.

Then uh, Sqbg pops up so this continues higher but I didn't trade it through this area so no additional trades on it. Then Sqbg pops up and on this one I was looking at it at 22.50 but I was like I don't know, it's too expensive. I missed it, it goes into a second halt, it then opens, it drops and then it rips up higher and I bought it right here on this dip off 2725 thinking it was going to squeeze out early short sellers that got caught maybe on this bear trap and then right into a flush down lost 630 bucks and with that gave back my profit that I had on Osat and was back to up only uh, 824 dollars. So a disappointing uh sorry, up only 194 dollars, but then after commissions probably down 25..

Um, so overall kind of disappointing. I over traded today, I was too aggressive, I traded too long and I should have just taken my early gains off the table. I had two opportunities to take good gains off the table and I overstayed my welcome. And and now.

and I think I started over trading because I was trying to get back to up 1100. you know, and and I, I never got there. and now I'm risking going deep in the red if I keep trading. So at this point I kind of just have to say all right it is what it is.

I gotta shut it down and live to trade another day. You know this breakout on Osat. The setup here for the breakthrough. You know, the high.

While it's interesting and tempting as we get later in the day and this has some high volume on red candles, it's already been choppy. We get an increased risk of false breakouts and you know if I jumped into this and tried to take my you know max share size using leverage on it and all of a sudden it flushes 40 50 cents on me. Just like that, I'm gonna be down a thousand bucks on the day, you know or 500 700. So I have to manage my risk and not be emotional about holding on to trades or trying to make back what I lost.

and I think today is a good lesson on that. Uh, some of the trades I took are trades I definitely would take in my big account but weren't really suitable for a small account because I went in with too much share size on the first trade, it didn't give me room to add Uh or or average down and reduce my cost basis and so I was just kind of in full size and that's not a great position to be in when you're not totally confident on the setup and I did that a couple times and then just over trading in general. So yeah, I'm a little discouraged. I think this is the first time I've had a red day on my first day of a small account challenge and you know what? the biggest difference is? Every other small account challenge I've done the first day only took one trade, but in this instance I had a little bit.

I put a little more money in the account 2500 and so I felt like I could afford to trade a little bit more and take decent positions and potentially have a really good day. Which I guess I did. It just didn't happen for me. Um, things were a little choppier than I was expecting.

This setup right here is is so tempting. I want to watch it unfold that I probably would have already been in this right here and I'd be adding at 71 and 2 for the break of 76 and then to anticipate the breakthrough 83 and look to take profit in the 90s for the break of 10.. let's see what it does. Look at that.

So back to 71: 58, 59 on the bid, 60 on the bid. If it breaks 950, you're gonna have a panic flush. Most likely there's 58. So that would have been a failed trade, a false breakout.

So I'm doing the right thing by sitting on my hands. You know it looked like a good setup, but another false breakout. So anyways, um, not the most exciting first day of a small account challenge, but educational for sure. and a big reminder to walk away when you've got a small count.

Get green, Shut it down. Walk away. You can give back your profit so fast and then you start to feel like you need to chase to get it back. and then you can just go deeper and deeper and deeper into the red.

So get green, Walk away. That's what I wish I had done and I was too aggressive today. So uh, will be a red day. We'll find out how much it is probably tomorrow when I, um, when I log in and see what my, um, what my balance is, but red day.

but I don't think by much. Um, like I said, I think 25 or 30 after commissions are factored in. so it's fine. Um, it's a 25 30 lesson to walk away sooner I guess.

But but you know, I could have been up 1100 today, so maybe it's a thousand dollar lesson. It takes a little bit of time to kind of re re-adjust from big account to small account and that's what I'm gonna have to work on over the next couple days. So that's day one in the books. Nothing to be super excited about, but that's the small account struggle.

and this is, I think probably very typical of a small account. A day where you make money, give it back, make money, give it back, and then finally, just throw in the towel in the red slightly. As always, my results are not typical. uh, probably for most traders, their first day with a real money account is deep in the red.

so don't, uh, trade with real money until you practice in a simulator and don't try to blindly follow me or anyone else for that matter. All right. So thanks for tuning in for day one of this small account challenge. It's a red day, but I'll be back at it first thing tomorrow morning.

All right, See you then! I hope you really enjoyed that video and make sure you hit the thumbs up and subscribe to the channel if you haven't already. Our goal is to hit 1 million subscribers this year, but we won't get there without your help. So please please please hit that subscribe.