Alright guys, so time for a midday market recap. We can go over the trades from today. Here we are Tuesday January 17th and I'm finishing the day up 51% on my small account I Started the morning with four thousand, five hundred and one dollar of total equity and I'm up two thousand, three hundred and ten dollars and nine cents. So today's a great day up fifty fifty-one percent.

I mean it's ridiculous Tomorrow I'll open the account close to sixty eight hundred and I'm you know, working my way right up. So I'm six point eight percent of the way to a hundred thousand which you know is good. that's I'm well on the way but still I need to keep this up. You know what I mean like when you think of it like that I'm this far to here so I've got a ways to go.

but I'm you know about? you know more than twenty percent of the way, twenty-five percent of the way to my $25,000 first target. You know that's my first target because once I get there, I can switch my account back to Speed Trader I get the advantage of going back to a lower commission rate and you know, training in a firm where my money's here it's in the United States I'm more comfortable having a large account there and you know, really building up that cash now the equity balance All right. So you know this again is a this is a great day I'll show you guys those of you who are watching screen share right now you can see my P&L this is from that I posted on stock twit So two thousand, three hundred and ten dollars this is here over on my live account. She can see there with the time going.

all right so you know. Like I said, a solid solid start to the week. I mean you can't really ask for much more than fifty one percent in a single day. So definitely a good start.

So let's talk about the stocks that I traded today. Now when I first got started this morning I really wasn't I wasn't really crazy about anything I didn't think today was going to be a great day and because this is my tenth consecutive Green Day I was I was I was this morning feeling nervous even yesterday I was feeling nervous I was like I think I'm going to have a red day tomorrow I just feel like I'm going to have a red day. you know nine consecutive green days. It feels like the red day is coming.

Granted, last year I had a 58 consecutive Green Day streak. So it's not to say I haven't had long streaks of just green days. But it's not just that, it's also that I think on Friday I had my 20 I Want to say 29th consecutive winning trade now I can't even remember where I'm at. see if I wrote it down? yeah I think it was my 29th consecutive winter was on Friday and today I took three.

Let's See I took four trades on BMTC one trade on G lbs and one trade on PTX and they were all winners. So now I'm on my 35th consecutive winning trade. I mean you know something's got to give. How long can I keep up this hot streak? The pressure is almost unbearable.

but you know this is for me, the result of being very disciplined about what I'm willing to trade also for what it's worth. I was down $4,000 in my speed trader account this morning and I held through that until it went to being a winner. So you know I guess I'm getting my share of stressful trades over my regular account while I focus primarily on the small account. So I'll walk you through the trades I took today the one that got me down on the regular account and then came back up.

And you know how I was able to make 51% in one day. All right. so the watchlist this morning: I'll pull up trade ideas here. As I said this morning, there wasn't anything I was super crazy about I was kind of like, you know I don't know.

there might be a couple gaffers, but a lot of the stocks on my watch list I just didn't feel super confident in. So I'll pull up the scan here. This is exactly what I was looking at at 9:20 So I'll show you this so you guys can see it. so that's the scanner as of 9:20 so we had see am I at the top Fwp those are both a little more expensive BCE I $2.75 so that's good.

But then you've got the float here of 49 million shares so that floats a little too heavy and then we've got B Vxv. This one was one that we've traded a couple times, but my issue would be V X V was the fact that the daily charts kind of a mess. So let me show you guys the daily chart. Now you can see.

the daily chart has this huge doji candle we're in that one day we went from four dollars all the way up to seven and then all the way back down. and I can we use this as an example of what we've been seeing in this market? I'll talk more about that in a second. but B V X V Was on watch for possible long over 485. The thing is, as soon as the bell rang it was halted on a circuit breaker.

got halted, drop down. then it spiked up. Not enough. Volume was just too choppy so nothing on that one.

Back to the scanner GEVO Was on watch recently did a reverse split, but you know the thing with GEVO is that I don't know. It's just been beaten up so much that anyone who's been holding for a long time is happy to get out on these spikes. And it often spikes up and themselves off. So that's kind of a thing we've been noticing on Gebo is that lots of stock spiking? Oh you know, lots of times it spikes up and sells off.

So my watch list out of the gates today was GEVO possible long over $5 but I'm a little nervous about it B Vxv possible long also over $5 but again I'm a little nervous about it. and then G lbs now G lbs squeezed up on Friday And then it was halted in the middle of the day which kind of unusual to have this happen. but it squeezed up and was halted at 739. All right now when it was halted, you know we were like okay, you know how long is it can be halted for it ends up resuming after hours at 405 or 505.

it resumed, sold off you know from from 739 all the way down to low of 471 and then bounced up. So today I was watching and I was like well you know it might be interesting over now. this is before the market opened over this level here of six dollars because I'm thinking if they can get over this level here then we might be able to get a move back, curl back up towards seven dollars and if we get above 7:40 then we've got new highs and we could really open up again. Market opens it themselves off Now when it starts to turn around here.

this is when I said okay, I'll jump in for a scalp. Now it was. it squeezed up to 625 right here. and then it was halted on a circuit breaker.

So when stock squeezed up more than 10% in basically a one-minute period, they can get halted for five minutes on the volatility pause. Now, if you guys aren't super familiar with that, you can go on. you can go on. YouTube I've got a long video on that I Can also give you guys a link here in the chatroom and just find the page Warrior.

Circuit breaker halts alright. so here's the link for those of you in the chat room. For those of you streaming you can see right here: Circuit breaker halts all right. So this has a lot of info about what causes the halt, the different types of codes and stuff like that, and it is fairly complex.

I mean the reason it's complex for a couple of reasons. One, the thresholds are different right at the open and right at the clothes, so that confuses things a little bit. Between 9:30 9:45 we've got a bigger threshold and then the threshold is different on different price stocks and different tear stocks. So again, there's some variables here, which makes it a little bit confusing, but something to be mindful of.

And I've got a long video that really does explain how the circuit breakers in quite a bit of. detail so you guys can check that out there. But in any case, G lbs squeezes up and is halted at 625. So when a stock squeezes up and it's halted, what I do is I treat it almost like the high before the halt is is like the I of day.

no and even if it's not the hive day I treat it as though the hi a day. So this was halted at 625 I like to buy over hi a day so if we open below 625 I would enter for the break of like pre market highs the break over 625. now in this case we actually open just a little bit higher. We opened it like oh we open it we opened it 630.

All right and then immediately we start to squeeze up towards 650. So I was like okay I'm going to get in this for the half dollar break I Got in with a thousand shares at 650 and it pops up to a high of 679. So immediately I was up 290 bucks I was like okay this is good, you know a nice little winner here but it came back down almost just as fast and so I stopped out with only $91 profit. so a small winner on that one.

and again this is the stock that people are underwater on who have been holding from the sevens from Friday. So not surprising that it wasn't clean. but I decided to give it a chance because you never know so that was G lbs. PTX Will talk about the the best trade of the day last PTX This one was a great daily breakout.

First camels making new high on the daily and quickly opened up I Got in this not really the best place you know I was getting him pretty high I'll show you the iPod on the one minute time frame on this one and you know I think it was. it was fine where I got in I was just going for a scalp but I don't know. The problem is that I only got a partial fill. So we first when I first thought it was consolidating right at this level here which is 350 where that yellow line is.

So 350 was where I was watching it but I missed my entry there pops it up to 372 and it pulls back I was like okay that's fine I'll get in for the break over 372 which is kind of this second pullback right here. It's like a micro one-minute pullback. so I was like alright I'm going to get in this here at 372 I got in at 368 but instead of filling my full order I only got a hundred shares so I got in at 36 viii it pops up to 395 I sell my hundred shares for nineteen cents of total profit which is how I got nineteen dollars so you know that's fine. Wasn't a big winner obviously, but the setup was good and with a thousand shares of two thousand shares, it would have been a pretty decent trade.

Alright, so now let's go to BMTC which was today's today's big winner so be NTC How did I trade this one? Well, you can see here right out of the gate the stock squeezed from 250 all the way up to 450. So really a parabolic move I'm like I was showing you guys just a minute ago on DV XV that stock that went from $3 to $7 and all the way back down. This is another one of those stocks that really went parabolic. It went from 0 to 60 and then you know it's just sort of fading off that level.

I Mean it's it's in the 3 60s right now, so it's still up a fair amount. but we're not seeing these stocks holding their games now. I Did not have this one on my radar at all I wasn't even watching it, didn't even know about it. but that's what my High Momentum scanners are for.

So these scanners are searching the market for any stock that's squeezing up. BNT See showed up on the scanner I pulled up the chart and I was like yep this one has potential. So when it first came on the scanner it was at 3 dollars and 17 cents and it already had 220 or 250,000 shares of volume. The float was six point one eight million shares and the relative volume on the 5-minute time frame was thirty thousand times higher than average, which is Huge.

that's why I have this in pink because it catches my attention and it was already up 71 percent on the day. So I was like okay, clearly this stock is showing potential to be parabolic. so I'm going to just jump in I put out my order, it's just squeezing up so I was like I'll get in at the half dollar which is similar to what I did on G LDS I'll get into the half dollar and when I get into the half dollar I set my stop ten cents below. so I get in at 350 stop is at 340 now I put my order at 357 as the limit order and I got filled at 3:57 which was seven cents higher than I wanted to really get filled at, but that's the thing with limit orders.

Sometimes you get filled a little high. you're choosing the most you're willing to pay and the most I was willing to pay was 357. That's what I got filled up so 2,000 shares long at 357, it pops up to a high of 430 and I added through the squeeze at 399 or 398 for the $4 break. So it gave me an average in the 70s and we pop up and get that My average was about 74 72 something like that and we get this squeeze up to 4:30 Now as it drops down I was like okay I better take profit and I sold that position around $4 390 so I wasn't able to sell in the 430 is the way I wanted to at the same time I took 10,000 shares in my regular account at $4 got in at $4 because I was like this thing is strong now I had to hold that through this dip here down to you know, 44 which was fairly brutal obviously.

but I said you know what, this is a strong stock, it's parabolic I really think the first pull backs going to get bottom. So now at that point I was all out in my shirt trader account. but I was waiting for the first one minute Campbell to make a new high to get back in. So I got back in on this green candle right after that red candle.

So I got back in at 370 and immediately we went up to $4 Immediately I was up 30 cents so I sold through that spike. we pulled back I got back in right here at $4 and sold through that spike again which that second spike was kind of a false breakout. it pops up and then pulled back. But between my first trade at 357, my second trade at 370 and my third trade at $4 between those three trades, I was able to make between 600 and 800 dollars per trade and that gave me a total profit of two hundred, two thousand, four hundred and twenty nine dollars before commissions.

So you know none of these trades were in my regular or in my small account. Really really big size and in my big account. As we got back up, over $4 I sold into that squeeze and was able to get out with $700 profit. So I was happy to not have a loss in that account.

But at the same time, you know I know I can handle losses in that account because I've got more. sigh I've got a bigger account. You know if I do have a loss, it's not the worst thing in the world. The most important thing for me is to build the small account and so one of the challenges is trying to trade in two accounts at once and this is, you know, not something that's easy to do.

One is the focus and the other one you know kind of takes the back burner. The annoying thing right now is that the one that takes the back burner is the one that I can take 10,000 shares on. last year when I did this challenge when I would do that, I would focus just on the big account because I was had so much size and I really didn't want to take losses and I think just over the course of 2016 I got more comfortable having losses, a little more confident in my skill and my strategy and so at this point I don't mind holding through the first pullback I Don't want to hold you the first pullback but if I have to, I will. and so you know today on this one I Helped through the first pullback and instead of getting panicked and selling into these drops I wait for the first cams, we'll make the new high and in this case, that brought us right back to high a day.

And in many cases, not only do we go too high a day now, we go up to 450 and maybe even five dollars. So that's when we start to see these really exponential moves. and it didn't happen to be the case on this one. But you know that strategy of buying into the squeeze and then buying the first pullback is solid.

Holding through that first pullback is a little risky right now because some of these stocks because they go 0 to 60 a just come all the way back down and that's kind of a challenge right now. We've seen so many stocks in the last week two weeks B.x just you know. exceptionally strong SG NL you know Na KD n VTR Apop BBS PM GEVO Sk Ln cool scene at I Mean there's just been so many that have been doing this, it's made it hard for traders who want to focus just on the 5 minute chart because if you were just trading the 5 minute chart on Dnt see, you don't have a single set of today, you don't so you had to be aggressive. You had to get in on the 1 minute get in, capture profit, and then get out and you have to be quick.

This is a trade. We're literally in the first 15 minutes in a period of 15 minutes. I was able to grow my account by 51% So you know many of these trades were short as a minute long. Getting in for the breakout, looking for the break is either immediately getting it and being in the profit and selling half or you know, having it not work out the way I wanted and stopping out with a small profit.

you know, So this is kind of the you know the exciting time as my accounts getting a little bit bigger and I could start to be a little bit more aggressive. Now tomorrow, 6800 will be my starting balance and remember in March of last year I made about 8,500 so that was 8500 was the revised goal for the end of this month. and I think that I've got I mean I I'm almost there I mean really? I'm only two thousand dollars away from breaking breaking that goal and I'm going to see if I can get towards ten thousand dollars I can get to ten thousand dollars in this first month and I can do 15 thousand next month. I'll have my twenty five thousand dollars by March first so we'll see.

you know I'll take what the markets willing to give me and today even in the first few minutes before BMTC came up at this point, you know 935 936 I had no trades and I was like okay, you know what maybe I'm not going to trade today I'm if there's nothing to trade I'm not going to trade and you know I didn't like FF SFR I didn't like P.m. e I didn't like Nak and I was checked Chivo but it was selling off so I was like well, you know what, you don't have to trade today. You had a great week last week. So so if there's no good set up and then don't touch the keys, just hands off And then all of a sudden we had this setup and I was like, you know, okay, that's the one jump you got to jump it and so having the intuition educated intuition.

Its educated. It's intuition that comes from years of trading and years of experience Having that ability to see a set up quickly, do risk analysis, look at it, and say okay, this is a setup where if I risk four hundred, I could very likely make eight hundred and I only took two thousand shares to start, but my stop was probably 20 cents. 15 20 cents. Now that's a $400 loss if it had gone the wrong way and that would have been losing 10% of my account because I'm at forty five hundred.

So obviously I don't want to have a $400 loss. but from a risk/reward standpoint, it makes sense. and I can afford that loss now I couldn't afford that loss two weeks ago when I first started this account. but I can now.

So two weeks ago was day one of the Small Town and I started with five Hundred and Eighty Three dollars. You know. So this is this is a potential I mean again I say again and again. you don't need a lot of money to make money as a trader.

Hopefully this month I'll be able to make ten thousand dollars from a five hundred dollar starting balance. So it's not about having a lot of money, it's about having skill. That's all it is. It's just skill.

And you could give me five hundred eighty Three dollars. And I really think that I can turn into a hundred grand within a year just in a trade. After trade, one one trade at a time will move a process of building the account. You know, lots of small trades as I've had in last few weeks.

Today is my best day of the small account. on Friday I made seven hundred Ninety Nine dollars and on Thursday I made one thousand seven hundred and sixty one dollars. Thursday was the turning point that was the big day. Before that, my best day was only two hundred and sixty dollars, so it took a little.

You know it took basically what one, two, three, four five, six, seven days of games between 124 and 260 some relatively small gains before I had built up my account to the size where once I saw the homerun setup I was able to take sighs and get a $900 winner and that's how it started on. on Thursday you know I took I took two trades and made $200 on both of them. So I was up 400 and then I took a third trade 2,000 shares and I made like 600. You know something like that.

It was like you know two small trades and then that third one and Boom Big step forward. So Thursday was a big step forward. Friday was a smaller step forward $800 It was still my second best day of the of the year of this challenge. And now today is and I'll mark it in the calendar plus twenty two thousand, three hundred and ten dollars, and nine cents insure trader Which makes this my best day of the year.

plus seven, twenty four in speed trader. Which is fine. So my speed trader count started the year at 28,000 and I'm up to forty one thousand five hundred. So I'm you know, building my way up there and Shir Trader started with Five Five Eighty Three and I'm up to 68 hundred.

So you know, building both of these accounts, the focus is a small one. I don't really have any hard set goals for what I want to do with the big account. you know, make some money but doesn't I'm not trying to make as much as I made last year because I'm not focusing on that account primarily. So if I can make you know I'm up twelve thousand dollars this month in that account.

So if I can do that each month in addition to the hundred thousand wisher trader, then that puts me, you know, right, at two hundred thousand dollars again for 2017, we'll see you know, as a certain point obviously probably around March I'll close down share trader and I will just be in Speed Trader and then I'll be able to focus 100% on that larger account. but I'll have to drop my balance back down to twenty-five thousand when I do that, let me make that switch. Alright, so you know Henry and I see your comment there about needing fast internet. You do need fast internet.

These are quick opportunities, but this is what active traders are looking for. That's what day traders are looking for. You know, short-term communities and this is what I've been doing for years and years looking for short-term opportunities and I look for it on all price ranges. but I've always found that between three and ten dollars, those are the stocks that are the most volatile.

Those are the stocks that are most popular among retail traders, which is what all of us are for the most part. And so those are the ones that have the best resolution. Now again, we talked about the importance of high relative volume. BNT See today has traded 6.5 million shares of volume.

You know this will be probably one of the highest relative volume leaders of the day and we got in it early because we have the right tools because we have the scanners so we get an early capture of a profit and then we get out of the way now. I Had somebody ask me why in sure Trader you can see here that it's showing my buying power is 37,000 even though my equity is only 4,500 Well what's your trader does is intraday. They adjust your buying power based on your profit or your loss. So if you lose money, if you lose, if I lost $4,000 my buying power would go all the way down to 3,000 it would drop all the way down.

and if I make $10,000 my buying power is going to go up. you know to 70,000 or whatever it is so that buying power is adjusted intraday which is different from I Don't think Speed Trader does that although I never look at my buying power Speed Trader So I'm not 100% sure, but that is something they do over a short trader. All right guys. So let me answer some of your questions here.

I See you guys posting some questions so let's see. let's go through and get some answers. and you guys can also call out symbols and I can look at stocks for you. All right.

So cost per trade at Speed Trader Michael For regular traders, just you know, coming in, its 495. For anyone that's part of the warrior trading community, its 395. For our students who are part of the rebate program, it's 295. So 295 per trade is the lowest that our students have.

All right Saran asks how much money I trade with at the moment and you can see here: Equity $4,500 Buying power right now is 37,000 so you know six times leverage. Obviously, with the small amount of money, I'm able to leverage that to do you know to do big things for better for worse. Fortunately, so far it's been for better. All right.

Mitch Yeah, I'm you know I I am trading bigger size and the regular account 10,000 shares is pretty standard. So when I have a good day I can make you know five, ten, even twelve thousand dollars as I made last week or whatever that was it was on. What day was that? I did twelve thousand? That was on the tenth. That was a week ago, week week ago today.

So yeah, I am going to trade larger size in that account. but once I switch over to that being my small account. you know once I've made twenty five thousand or twenty six thousand and I move my money out of sure trader I'll put it in speedgrader I'll reset speech Raider to that same amount and then I'll just continue from that point forward and I'll have to adjust my share size at the beginning to be a little more cautious. and Hey Joe what's up I saw you logging in there.

so Colorado to answer your question there, the broker I'm using a Sure trader. they are located in Nassau in the Bahamas and they don't enforce the PDT rule which is why so many day traders are using them. It's just the reality that if I opened an account with Ameritrade with each trade with even speed trader I need that twenty five thousand dollar minimum account balance and because of that you know it puts a lot traders just immediately out of the game. I mean if you know twenty five thousand dollars, you can't date trade, That's it.

seems crazy. You know The problem with that to me is that having that amount of money it this is kind of based on when the 1990s we had this. you know all these retail traders and heading into online trading and a lot of people lost their shirts and so to kind of protect uneducated traders from getting into the market and having leverage and all that stuff, they created this twenty five thousand dollar minimum. A lot of people come in with twenty five thousand dollars.

Doesn't mean they're educated, doesn't mean they're less likely or more likely to make money or lose money. It really doesn't, But it's the rule. So you know for those of us that are below that level, we either have to swing trade, trade only three times a week or use a broker like shirt trader. And so that's what I've been using.

So it is a margin account. its margin I've got six times leverage. which is, you know, fairly ridiculous. All right, let's see.

So now that's a good comment of Sebastian Entry Day: Sure, trader is going to take steps to mitigate their risk as a broker. and so one of those steps is that if there's a stock that's extremely volatile like BMTC they're going to change the margin requirement on it. So some stocks have full six to one leverage. Meaning you've got $1,000 You can six thousand in buying power.

You can use the full six thousand, but then other stocks they reduce. Sometimes they reduce it to two to one, Sometimes they reduce it to one to one. BMTC is two to one right now. So last week when my account was only like $1,000 that meant I couldn't trade it at all.

This week was $4,500 I Could still buy a thousand shares, maybe 1500 shares. but I can't use much of my buying power sometimes. Not any of it so you know it's it's an inconvenience for us, but it I understand why they do it. You know they do it to prevent Raiders from you know, blowing up the their accounts and they're on the hook for that in the short term.

I mean you know if you lose $10,000 and you only put in two thousand, I mean they're on the hook so they want to try to prevent that from happening. and Brian yeah, what alerted me to BMTC was that it was on my hide. a memo scanner right here at 9:36 That's that's how I found it. it was thanks to the scanner.

So once again, this scanner, you know having the right tools there, you know it's paying the bills. All right. So let's see any other questions. Let's see: Robin Hood Question about Robin Hood The problem with Robin Hood is that it's a mobile app.

To me, that's a problem. You don't have level two. you can't really fully read the market. It's not a tool for active trading.

It's not tool for day trading. It's fine for swing trading. For investing, you know it's a great way to get Millennials interested in the market. but in terms of being a real tool for day trading, it's just it's just not so I wouldn't use that personally.

And Chad I mean yet the upfront cost to start trading the the primary cost really is not the account and it's not. You know the tools like there are some tools that will be helpful having these scanners. These scanners are $100 a month. These scanners are really helpful.

You know, having something like good charts thought that's important. that's going to be helpful. So scanners charts you know, getting your broker account set up. but ultimately you can see that money in terms of account size is not the most important thing.

The most important thing is your education and your training. so you know that's the primary cost. Getting started now of course I didn't spend any money on education I did it all on my own and that's why I took me 18 months. So then you've got to be able to pay for the cost of living for 18 months or whatever your learning curve is.

And obviously the students you know that we're working with. We're hoping that we're able to get them, you know, into into the market trading profitably much sooner so they don't have to go through that long drawn-out process that I had to go through. Michael I mean I use a margin account. The problem cash account is that you have to wait three days for trades to settle.

so you know if you buy and sell a stock today, you can't trade that money again for three days. And that means you know you just sit and watch other setups go by and you can't participate. So that's why we usually would use a margin account. but at the same time, margin accounts require $25,000 minimum if you're going to day trade.

So it's like this is where you know beginner traders kind of get into a pinch. so you know for myself, it certainly made a lot of sense to go and fund this 500 dollar account with share trader. You know what? I'm putting $500 out there if I can grow it. That's awesome.

If I blow up the account, well it's five hundred dollars. It's a learning experience. You know five hundred dollars I mean it is what it is I mean it just made sense to do that. And now my accounts growing and I'm able to sort of, you know, get the wind you know, behind my sails and really get some momentum.

So I think it makes more sense to you know if you're going to really try to trade to trade an account where you can have margin where you can be aggressive. So with margin accounts, you don't have to wait. Ethan So you know as soon as you sell, your margin is back. So thirty seven thousand in buying power.

So I buy thirty seven thousand dollars of stock. my buying power will go to zero as soon as I sell. It goes right back to thirty seven thousand. So it's just like you know.

it's just constantly there, which is awesome. That's what allows us to be, you know, so so aggressive. And Patrick 51% is my total gain on the day trading three stocks I made about I don't know. forty eight percent on BNT see on three total trades I thought it was four, but maybe it was only three and then another 110 dollars on two other stocks and Josh yeah my I think you probably saw my comment there on Robin Hood Great for swing trading because there's zero commissions which is awesome.

But what I kind of feel like they did is they sacrifice features that should be standard on every broker in order to give you free. Commission's so what did they sacrifice? Well, you don't have level two. That's a problem. Not having level two data means you can't see market depth and you can't see when there's a 50,000 share seller trying to unload a position or when there's a 200,000 share buyer trying to take a large position.

So as an active trader, it's like it's like trading with you know, one eye closed or it's just you're so limited. Limited It just doesn't make sense. But for swing trades for long term positions that where you don't need level two, it's a great. It's a great tool.

It just kind of depends on your situation, your strategy, and that sort of thing. And that's why the right tools for me might not be the right tools for you, you know? And but if you want to be an active trader like myself, then you know we would probably both be using the same tools. All right? So let's see so we can check on students here. Just do two and move this over, check on students in the simulator, see where they're at for today and Srgio Yeah, I mean the number one thing for every trader is risk management.

That's it. It all comes down to risk management. can you manage your risk and so on? all of my trades you know here. in the last couple weeks I've been keeping my risk very minimal knowing that I can't afford to have a loss.

so I'll risk. You know, 200 here and now as high as 400 on this one trade. I am getting a little bit more aggressive as I get further into the challenge, but I'm still always being mindful of risk and that's one of the ways. I mitigate risk is only trading in the first two hours of the day.

I Know that that's when I have peak performance. That's when I make the most money. That's when trading is the easiest for me. So that's the time for me to get in there.

It's like you know it's almost like if I want if I I wanted to get in there. you know, work as hard as I possibly can and then get out. Be done with it. So that for me, works really well and that's what I've been doing.

You know for this Shirt Raider challenge. So for students who are in the simulator, you know we've got. let's see this morning 306 in the simulator and you know you've got a mix of red and green as you'd expect from beginner traders. Today's a day where you've got about two thirds that are red and about a third that are green.

So this shows. You know that these are students kind of. You know at various points in their journey. some of them are in our classes, some of them aren't working through trying to figure out how to manage risk on every trade.

Have the trade smart or how to trade better, how to get into the strong stocks at the right setup. and this is all practice. This is what you need to do. You get a practice practice practice to get to the point where you can, you know, start doing this with real money.

It's not something that you can just say I Know this looks easy, but it is the result of a lot of hard work. You know that's what it took for me to get to where I am now Ryan I Haven't pulled any money out of my shirt trader account yet I haven't decided what I'm going to do if I might just I don't know I haven't decided yet. so I'll just let it build up to 26,000 and then take it all out and move it all over to Speed trader I think that's probably going to be the easiest thing. just I mean I think it's going to be easy for a number of reasons.

but I know that people. If they're like you know they see that I had you know five because I let's say I draw out $5,000 at the end of a good week and then my account goes down. People say oh you looks like you lost money, you must have had a big loss or at the end of the challenge I go from having a seven thousand dollar account to having twenty five thousand and speed trader before towel at wide tree house doesn't make sense than that up. What did he do? So just to make it super clear for everybody you know, make it easy.

I'll probably just leave the money there till it's twenty six thousand and then transfer it all to Speed Trader. Obviously if I was trading, you know if I was. if I was really. you know starting with an account this small I would probably need to take money out to pay bills and maybe that would slow down the rate that I could grow a small account.

But you know I can't I mean there's so many variables I can't it's hard to hit them all. Yeah milestone. All of our students that are in the Warrior Pro classes have access to these scanner settings and they have them for life now. These scanners are run inside Trade Ideas and we work closely with Dan Merck into CEO of Trade Ideas.

To you know, make sure we have some custom layouts specific for their platform because so many of our students are trading there. So as soon as you sign up and watch I think it's class 9 where I give you all my scanner settings and show you how to use them. So Mitch I'll give you the link for for speed trader for the Commission There we have a broker rebate program. We have that with Speed Trader Sure Trader and Light Speed and that broker rebate program means that they will.

They'll reimburse you for the cost of your education. So if you spend $2,000 on education, they'll give you a $2,000 credit that will come off of commission. So every trade you take, you have reduced commissions until you've recoup the total cost of your education which is awesome. I Mean even right now if let's just say there was like you know a let's say I want to learn like Forex or something like that and they're like you know, oh yeah, this Forex broker will give you a 100% rebate on your class I'd be like that's awesome I Signed up for the class I take the class and then just through trading I know I'll get my cost repaid.

you know, just one trade at a time over the next few months. So let's see. I'll give you the link here: I'm just finding it on on Google Speed Trader rebate All right there you go and Daniel you you said that. Ucn fees you feel like are misleading and this is this is an interesting thing.

You've got DCN fees with Speed Trader with Light Speed with Sure Trader with interactive brokers and you can say they're out there. A little bit of a surprise to some traders who sign up thinking that it's going to be 495 per trade and that's it. That there's no fees, but these fees exist they don't exist with with each trade or merit trade and so large traders who go from trading with one of those places to one of these find it as a surprise I know I did when I first got started but you know they give you the discount Commission and then they charge you to Ecn fee which is kind of a pass-through charge that's going to the exchanges and stuff like that so it is what it is. You kind of have to budget for it today.

My Ecn fees are $78 insure trader and my Commission's are 148. So commissions are on the high side today, you know? and that's just part of the deal. You know it's not a lot you can do about it unfortunately. All right guys.

So with that I'm going to call it a day and I will see you all first thing tomorrow morning. All right Thanks guys! Let's be honest, if you made it this far, you must have really enjoyed that video. So what's stopping? You subscribe right here and get email alerts any time I upload new content. until then.

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