Alright guys, so here we are at the end of day 15. At least this is the end of day 15 for me because it's lunch time. So end of day 15 finishing with 800 and $3.63 in the small account. I'm going to post this on stock to it so plus 8 Oh 363 on just one stock BGI I Kept it simple today I didn't over trade a total of I think three trades on this one stock between my two accounts.

so up nine hundred before Commission's and 803 sixty-three after after commissions. which is you know overall not a bad day. You know the this week is so far seemed kind of slow. Yesterday we had G lbs you know gapping up again and that was very choppy.

Not an easy one to trade and then this morning we really didn't have much of anything that looked good on the gap scanner. So I'll pull the gap scanner up here, we'll do historical date and I'll just do 9 a.m. and you'll be able to see that there really wasn't anything this morning that looked back great. And by the way, here is my P&L for today up right here: 800 and $3.63 Alright so commissions about a hundred bucks I trade a total I think six thousand shares today, six thousand that I bought and then six thousand I sold.

So I guess twelve thousand total shares and I'll go over the entries on BGI in a second. but based on the watch list it was a pretty, you know, a pretty non-event day. You know there just wasn't much that that looked that great. We had MPs X up at the top of the watch list or the Gap scanner, but that was a buyout so no trades on that I dxg here.

this one's pretty crowded. no interest in trading that one. this one only 100 shares of volume D FF n it's below the 200 moving average. so if I go over here and I show you guys D F F n you'll see that on the daily chart.

this is coming up. but it's going to run into this purple line. That purple line is the 200 moving average and it still weighs off that level. but that's going to be an issue so no interest in trading that one cat B right here I Didn't like this Gap.

We traded it last week and I wasn't really that impressed with it. so no trades on cat B ended up. you know, having this really high tick up here pre market and then opening basically flat. so really no action on that one and you know I was thinking it was like around 9:00 I'd like nine 9:45 or so I hadn't taken any trades yet and I was like you know what? Today just might be a day where I don't trade I want to trade but I had to remind myself I was like Ross look you know you're up $9,000 You're you're up to $9,000 in equity right now.

So 8500 profit in the last 14 days in the small account. Don't push it. You know you don't need to overdo it. You don't want to have a day where you give back 1500 or 2000 dollars and it doesn't take much to do it.

You know, for any of us that trade with bigger-sized you know you can lose a thousand bucks like that. and I really don't want that to happen in this account. so I would rather not trade and maybe miss a setup that works that was only so-so than to risk taking trades that are so-so quality and taking that big loss. I just can't afford it right now and that comes back to the ability to maintain composure and really, the exercise self-control As a trader, it's not easy.

I Mean there have been a lot of times where I've gotten overly aggressive I started to get emotional I start to get frustrated and I take it out on my trading. nine times out of ten. when you trade like that, you lose money and I think you know this is kind of. This is a tough job, especially because so many traders are as I Think we know young men.

A Lot of men in this community. A lot of young men middle-aged as well. But you know when when you're a young buck, you know you're You're out there trying to, you know, make some money in the market. You can get really emotional and really frustrated, especially when it's not working your way.

You know you can't. You can't punch the market, You can't. You can't force the market. You're not stronger than the market.

We never will be. It's like you know, trying to fight a rip current or something. We're not stronger than the ocean. We're not stronger than the market.

and we just always have to remember that if the markets going down well, then that's the trend. We can't fight it and it means we either step out of the way or you know, sell our positions or whatever it is. But it's something that I know. I experienced a lot as a younger trader in my mid-20s and you know now as I'm getting a little bit older I think I'm kind of.

You know having two things happen at once. One is I'm getting a little older and I may be calming down a little bit and the other is I've had more experience as a trader and I'm able to make better decisions because of you know that experience and and I have more confidence and so now I have the ability to say on a day where I don't see anything good that you know what I don't have to trade today, you know today today I'm gonna watch Law & Order you know catch up on you know Stabler and and Benson and you know, just just chill out a little bit. As it turns out, we ended up having some good opportunities today. so actually really just one.

So I'm seeing some thumbs up for the law & Order call out which I'm happy you guys appreciate that. So BGI this ended up being the stock that I traded today and it was unexpected. it wasn't on my watch list, it just ended up. you know, hitting the scanners and I looked at it and I said yeah, looks good I'm gonna take a stab so that whole thought process happens really quickly, right? and so let me walk you through kind of the analysis: The quick analysis that I had to do on that trade before I got in where I had to decide.

do I want to take this trade or not? how much size am I going to take? How aggressive I'm gonna be? What's my stop? What's my profit target, you know, so on and so forth. So BG I will scroll back here on the hide a Momoa scanner so it first hits at 9:43 So I'm 13 minutes into the day. no trades whatsoever and I'm thinking that you know this might be a slow day. And just to preface this, I did see CLR be moving today, but my concern with this is that it was a little too cheap.

I Thought that it was going to be fairly crowded because even in the first two minutes ahead like I think it was like two million shares of volume. So I was like this one's gonna be crowded. it's pretty cheap I Don't think it's going to be the type that really opens up. We've traded it in the past and it's just never been the easiest.

But BGI although it's a similar price range, this is a former runner. Alright, so I pull up the chart on BGI I see this, get hit on the scanner and immediately I recognize that that is that name is a former runner that's a stock that's had a history of making a big move. So I'm like ok BGI this is something that I want to look at very quickly. Alright, and I'll show you.

let's see this right here is BGI at 9:43 so it's popping up at a dollar 67 and this is the chart. We went from a dollar 50 up to 210 and then we're kind of consolidating right now, but we've come back off that level a bit. Alright, so as soon as I saw that popping up, I thought okay, you know this might be the one and what you can see here is that early in the day it kind of popped up, pulled back, consolidated, and then made a second move. you know, right here around 9:40 - and that's when it hit the scanner when I saw that I was like okay, I like it and I'm going to jump in I got in at 970 sorry at 171 and 175 and 177 basically buying as it was squeezing Now I took 4,000 shares and I set a 10 cent stop in my shirt trader account.

So I was like okay I'm risking $400 you know it's it's maybe more risk than I'd like, but you know I think I can I think this is one that I can easily get 15 to 20 cents on and get that quick profit cushion. So I got in in a pops up to a high of 192. I was like okay, not bad so I'm still holding. Now at that point you know with 4,000 shares I'm up from 75 to 95 would be 800 bucks.

It pops up through $2 Actually what happens, it pops up right to the $2 spot and when it hits the $2 spot it we could see a lot of sellers putting their orders at $2 and that told me that. you know this is a little bit heavy. There's some people that are you know, maybe shorting this or that are taking profit now something that we sometimes notice and well just you know. this is just a tangent for a second.

But when I take short positions and I was watching IBM today sounds like rain, you know what? I know exactly what that is. Let's see, let's see if I can back out with us for one second. There we go. That should fix it I pop back on.

All right, That should fix it. So IBM so when I'm seeing these stocks that are moving up really quickly that are you know running fast a lot of times. what I do is I know that they're gonna have resistance at the whole dollar or and the half dollar. So if I see it coming up - you know 74 or 75 let's just say it's coming up to 75.

I might think you know what I might put out in order to short. you know, let's say a thousand shares at 92 and maybe I'll short another thousand at 98 because I think it's going to come up here but then hit that resistance and then roll over. So I start putting out my sell orders as we get up to the whole dollar because a lot of times they come up and they tap that level and then they roll over. So when they tap that level and roll over, you know by the time they roll over they can quickly drop back down to the 70s especially the higher price names and by the time you get confirmation you're chasing it.

So that's why some traders will short as these stocks are going up. We also do that if a stock has short sale restriction because we have to short on the ask. So we start putting out these orders. and then what happens is when you when you start shorting a stock in the 90s like 92, 95, 98 and it drops down, you're profitable.

But if it gets up and it breaks over that whole dollar, you do one of two things. A lot of traders will set stops right on the other side. So like you know, 7502, 7500, 375 Oh five, others will set stops at seventy Five Eleven or 75 twelve to give it a little bit more room. It kind of depends on account size.

some some will just hold, but a lot of people will be like okay, I'm stopping out. this is too strong. So that's why long biased traders get into these stocks for the break of the whole dollar knowing that there's a lot of people that will buy there and shorts are going to cover and when they send those those orders to cover, you get that additional pop and that sometimes brings us right up to you know, whatever it is to twenty-five to thirty to forty, sometimes we continue to squeeze. Now in the case of BGI this squeezed up here and it broke.

It hit two dollars and then it started to pull back and so I was like you know what? I don't want to get into a situation where this comes all the way back down where you know where that two dollar spot is. really resistance and you can see here how it went from net from two dollars all the way back down to 85. So I went from being up 25 cents to being up only 5 cents. So I took profit as we started to see that resistance.

I hit the sell button and I started to sell on the bid in the 90s. So I sold like 90 to 95 and 85. just kind of like alright I'm going to take out three cores in my position but if this shows strength and it looks like it's going to come back up, Well that's ok too. I'll add back.

so then what I what I did on this one is I said ok I'm going to look to add back over the whole dollar over to dollars and as I started to see volume coming in at 195 I was like that's it I'm gonna punch the order so I added 2,000 shares right here at 195 and we immediately popped up to 210. So you know immediately I'm up. you know, hundred bucks now I got two thousand shares in my shirt trader account and in my bigger account about eight thousand so more aggressive in my bigger account. I've got a much you know much bigger cushion in that account.

Now we pop up here two to twelve and we pull back to 197 and that's when I kind of panicked I was like that's not what I wanted to see You know I didn't want to see this go to 212 go all the way down to 97 because that looks like it might be a false break. You Know where we break over the level and then we totally reject it and sometimes that will be high of day and we sell off from there. So as soon as it popped back up a second time, this is where I sold and I sold on the Ask at 2:08 So I put out my orders of 208 I sold on the ask and then it ended up coming down here and selling off. So in total in two trades, one entry at 75 and then a second entry at 95 I was able to make in my small account $900 That account started this morning with nine thousand and seventeen dollars and I made 10% in one day.

So tomorrow I'll open close to ten thousand dollars and you can see a BG I continued to fire on the scanner as it was squeezing up and and then that was really it on the scanners. Nothing else popped up here. so there were no other trades. all right.

But you know BGI some solid trades on this one. Today's a day where in my small account I made 800 bucks after commissions and my big accounting made 2,500 So you know I'm you know trading. Basically two different strategies here. One is, you know, more aggressive holding positions, a little bit longer, taking bigger size.

This accounts got forty three thousand dollars and then my other account. you know I'm being a little bit more conservative, taking profit faster and making sure I'm just building. you know, one step at a time. So I'm trading two very different strategies which a lot of traders do.

especially traders who trade an IRA account and also trade in a regular account and it's a little tricky to do that. and I found that sometimes I end up focusing in the wrong place because of the way. I've do chosen to take my risk and you know the the result is that by the end of the morning and you know this is lunchtime I start to feel pretty exhausted just because all morning I've had to do these quick risk analysis decisions. So when I first saw BGI pop on the scanner, the first thing I said is it's a former runner I Remember number two: it's got a strong daily chart with no nearby resistance and it's above the 200 moving average.

it's above the 200. it's above the 50. it's above the 20. it's above the 9, so it's really strong.

Number 3: it's got. it's up 13% Number 4: its up 13% and it has high relative volume. There may not be a catalyst, but it's giving us a technical breakout. It's worth jumping in and then checking to see if there's a headline.

I Didn't see any fundamental news and so this may not be a stock that continues. but the same time we've been seeing such strength in the market of small caps in with G lbs E t RM ID X G that it makes sense. The traders are now looking for that next stock to jump onto and I am too. I'm looking for the next one that's gonna make a big move I was thinking BG I you know certainly has potential of traders wanna jump on it and if it has news and then of course I would have been in one of the strongest stocks of the day with a really good price.

Once I realized that you know this doesn't have any big news, there's not breaking news I sort of adjust my focus to I'm just gonna you know, try to take the profit and you know and not overstay my welcome. Now the five-minute chart on this. We ended up getting a pretty sharp pull back down to the 9 moving average, but because you know this has gotten so squeezed up, the pullback ended up being almost a 50% retracement and it didn't take this bounce here. The first five-minute killin will make a new high.

The reason is because by the time that was happening, the price was below the 20 moving average on the one-minute chart and I really like to buy when stocks are above the 20 not below it. So I didn't end up taking that trade even though it you know would have worked from 77 up to I mean it Really? Actually it's only from 77 to 84 so you know 7 cents of profit I mean it's not worth it if the windows only 7 sign and we rarely capture the entire window we capture. you know, half of it. Maybe it.

so you know the profit potential. there are only three cents. It's not worth it when you deal with the spreads and a little bit of slippage. That's not a profitable trade.

But you know one of the things I said to myself this week was to focus on five-minute chart patterns because we saw some really good 5-minute chart patterns last week. A couple of them I missed and you know I realized that those were some of the setups that I could have been the most aggressive on I could have been taking you know either easily three, four, or five thousand shares in my small account, maybe ten or fifteen thousand in my big account and doing really well on. the problem is that I was jumping from one momentum stock to the next because that Hayate scanner was just firing off the lurtz all day long and what end up ends up happening is that when a stock is pulling back and consolidating I stopped focusing on it because I've looked to the next thing and then I missed that consolidation in the first five minute candle to make the new high. So you know I've got all these charts here.

So one of the things I want to try to do this week and just in general is keep some of those stocks on the back burner. So I'm kind of watching them waiting for that consolidation and waiting for that pullback entry. so you know BGI Now of course, at this time of day as we get into the lunch hour, I'm not really inclined to trade it, but you know some of the other small caps. If we were seeing some nice consolidation in the late morning, I'd be really interested and I hope that we'll see that this week.

I Hope that we see another really strong stock here. You know, tomorrow or maybe the next day we're kind of in between parabolic stocks where you know we're sort of waiting for that next big headline that everyone jumps on and it's just like ok, this is the one and you know we obviously had to shipping stocks. We had some action in a couple names like ET RM and I DX g ET RM I never really found to be that easy to trade despite the fact that went from $6 to $30 For some reason, this one wasn't super easy. I the oops idea.

Gee. also not the easiest kind of spiked up a couple times so we'll see what's next. But in the meantime, if I can keep you know picking off 200 here, 400 there, you know, 600 there. I'll be able to continue to build my account up.

so tomorrow I'll open just under $10,000 9800 and I'm you know, focused in on getting to 12,500 hopefully by the end of the week I mean I definitely want to be there by the end of the month which would be between now and next Tuesday that would put me halfway to $25,000 which is really my first, my first big target. You know that's kind of like $25,000 is real milestone. so if I can get halfway there 12,500 I'm going to be you know, feeling good about my you know my kind of my track here that I was able to get halfway there by the end of January. If I can increase my position size, I can also increase my profits and maybe I'll be able to get to 25,000 by mid-february hopefully by a giant bio March 1st at the latest.

that kind of my goal is March 1st. but I would like to get there by President's Day weekend which is I think the 17th of February Yeah so the 17th of February though realistically I would have to make if that was going to happen I'd have to make. basically I mean I'd have to make $5,000 or close to $6,000 a week for the next three weeks. and this week I'm only up.

You know how much did I make yesterday? Can you remember May 3 19 So I'm only up $1100 this week. so I'm I don't know. we'll see. you know I got to take what the markets gonna give me.

We can all have these kind of you know goals, but I'm not going to get bent out of shape if it doesn't happen. you know there's I can't control everything. you know. it's just I can control how much I'm going to risk on a trade and whether or not I'm going to take a trade.

but I can't control whether or not we're going to have big setups or you know, breaking news and that sort of thing. So I'll take what I can get and hopefully we'll have some good opportunities here tomorrow and going into the rest of the week. All right. So that's where we're finishing up today.

Day 15 of the small Account challenge up eight hundred and three dollars and 63 cents. Which puts me puts me just under ten thousand dollars And that by itself to be able to take five hundred and eighty three dollars on January 1st and turn it into nearly ten thousand dollars in one month. That by itself is a pretty big accomplishment, but I'm still only about 10 percent of the way to my hundred thousand dollar goal. So slow and steady.

This is a marathon. It's not about just you know, sprinting out of the gates and then collapsing. I got to continue. and I've got to keep it up.

And that means I have to continue to manage risk, continue to trade smart and remember that you know not to be negative, but that you know one lapse in judgment can give you a really big setback. So every time you sit down to trade, you got to be focused. You got to be a hundred percent there. You know, mentally, emotionally, and if you're not, then that's a good day to just step back away from the keys.

All right guys. So that's it for today and I will see you all first thing tomorrow morning for Day 16. 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 anytime I upload new content.

Until then. Happy surfing.