What's up everyone? All right? Well, today is Friday and it is my ninth day of the small account challenge. Over the last eight days, I've had eight green days in a row. I've grown a account from about four thousand three hundred dollars. Starting balance today was around fourth.

Ah, sorry, six thousand, seven hundred dollars. So account's been up about fifty percent and my daily average has been about, uh, three hundred dollars a day. But as I've said right along during this challenge, my results are not typical. Most traders out there will find themselves on the other side red each day, consistently struggling to find profitability for a variety of reasons.

Today is my first red dead in the small account. I'm down 327 dollars approximately. so I had my first loss. Uh, and it's a little disappointing.

You never like to finish the week on a red trade, but yeah, hey, what can you do? It is what it is. Um, the critique that I would have on my trade today was that I should have sold it a little sooner. you know? I got in for a five minute bull flag setup, which is a standard pattern. It wasn't a perfect full flag, but not all patterns are picture perfect and that's okay.

it was on the right stock I think to trade it was the leading gapper with high relative volume. had just made a big move and I bought that first candle to make a new high. I was up about 20 cents and then, uh, it reversed and dropped almost a dollar a share and I lost 300 bucks. So I wish I'd sold a little faster.

One of the things with Free Market is that you can't use stop orders. So for instance, my stop at break even which is a hotkey that I like to use, I can get in a trade I can press. Once I'm up 10 or 15 cents, I can press stop at break even and if it comes back down, I'm out flat. but you can't use those pre-market so you got to just really watch it closely.

Unfortunately, it flushed in one 10 second Candle 50 cents and the next one another 50 cents. And just like that I was. I was faced with cutting the loss. Uh, I did not exceed my risk parameters on the trade.

I didn't lose more than I am comfortable losing, which is good. My daily max loss is 10 of the account in one day. So with a 6700 account, about 670 dollars of max loss. So I uh, lost 330.

it's about half of that. So about a five percent loss on the account today giving back about one day average profit over the last eight days, that's all acceptable. Again, I think it's good to critique the trade and say, what could I have done better and turn the loss into a lesson? And the one thing that I wish I had done was cut the loss a little bit faster. so I got to be a little bit better about that going into next week.

But I don't have anything else really to say about the trade. It was a good quality seven that just didn't work. and it's a good reminder that there is no holy grail in trading. There is no indicator.

That's right, 100 of the time there's no setup that works. 100 of the time losses happen, even to the very best traders, even. uh, long-term traders and investors. The billionaires out there.

They have losses too. Being in the market is not about not losing, it's about knowing how to lose quickly, gracefully, cut the loss quickly, and move on to the next opportunity. And so, I'll do the recap today. I hope you guys enjoy it.

Hit that thumbs up please! As always, my results are not typical and trading is risky so I encourage you number one not to blindly follow me or anyone else. and number two trade in the simulator before you put real money on the line. I hope you enjoy the recap and I'll see you first thing Monday morning. Hopefully we see, uh, some better follow-through in the market to start the new week.

All right, See you then. What's up everyone? Alright, so um, I'm gonna do a recap. Small Account Day nine and today's the first red day in the small account. And it's not a small red day unfortunately.

Um, it's not huge, but it's bigger than I'd like I guess. actually. Uh, based on what we're looking at from the last, um, eight or so, or uh, nine days. my daily average was around three hundred dollars a day.

Three hundred? I thought it was around 328 dollars actually. So basically, today's a loss where I'm losing. Um, one day of average profit, which is acceptable. My max loss that I had set for myself was to not lose more than 10 percent of the account in any one day.

All right. Well, uh, I didn't catch a loss that big. But you know, the account this morning started at six thousand, seven hundred, thirty six dollars, and forty seven cents. So I'm down five percent and it's a good size loss.

And it happened early on. Sckt. This was our leading gapper and I bought a a fairly typical bull flag set up here. First, can we make a new high? Now This had a little bit of an issue, which was that it was extended.

It was a bit extended at the time of the entry off the nine moving average. Uh, the news on it. You know, was there was news out, but it was out after hours yesterday Sometimes that can be a little bit of a problem when the news is out the previous day. Uh, pre-market doesn't always continue well.

But we had this really nice move here and the first pullback got bought up nicely and so I thought this looked good. I would say the only failure in this trade was not exiting faster. I think that's the only thing that I could have done better. Um, it popped up right here as you can see and I got in at 79.

Oops. So my orders? um right there. So I got in at 1479 with um, it was 414 shares I guess. yeah for 414 shares.

So I could have gotten in a little earlier on the one minute sort of 10 second micro pullback here as it broke through this descending resistance. Um, I got in at 79 so I got in a little higher. It's not too bad. It was the first five minute candle to make a new high and it went up to 1506 and I didn't sell because 1506, um to me was okay.

1506 let it pull back and then look for a break over 1506 15 10, 15, 25 and I was thinking maybe 15 50. this actually didn't have any resistance on the daily chart until 1862. So I was like this: this looks good to me. Well, sometimes they look good and they just don't work and in this case it rejected.

And one of the things about trading pre-market that is, um, that's riskier is that you can't put in stop orders so you know perhaps I could have put a stop at break even and I could do that on a trade. Um, you know that I take like right now during regular trading hours, but pre-market you can't do that so I didn't have any stops on it. and um, in this one candle it it flushed down to 14.50 and it it happened fast and I thought okay, um well let me just give it a second, you know let's see if it pops right back up and in the next candle it drops to 1390 and then as it pops up here this is where I sold. I sold as it popped back up off of the low of 1390 uh or 1380 and I sold it 14.

uh and it ended up going a bit lower from there and it did rally back up um, but never back as high as my entry. So I definitely made the right decision to cut the loss. Um, it's come back down even more here. So it was the right decision and the only failure was not cutting it faster and and you know honestly that's just part of the deal with trading.

Sometimes you catch a big flush and you just it's a 10. It happened in 10 seconds. You just you do the best you can but you can't cut it any faster than you did. And um so so that's my, that's my loss, That's my my one trade of the day.

And because I'm capping myself at one trade a day, the day is not going to get worse. It's not going to get better, but it's not going to get worse. That's my one trade and that's it. Down 327 dollars and six cents before commissions, probably 330 or so after 331.

And excuse me, you know most importantly, living to trade another day When you have your first loss in a small account. It's scary because every day counts, every day has to count. And so having that first loss is, um, it's a scary feeling, You know you're starting to move in the wrong direction and the the best way to make that feeling go away. Well, I won't say the best way.

The fastest way to make that feeling go away would be to take another trade and get green and finish the day green. Because then you, you're back on your hot streak. You feel good again. Unfortunately, if I've gotten back in this um, I'm 99 sure I would have continued to lose money.

So you know it just wasn't strong and this was our leading gapper and that honestly set the tone for the rest of the day for everything else. Well, so far it's only 10 am, but so far 9.50 Um, so Sckt went down a core. This one popped up and then rejected really hard. So today's a day where we're not seeing follow-through Um, but some days are like that and that's just the way it goes.

Uh, the account is green on four out of five days this week and it's green on eight out of the last nine days. And uh, I'm gonna be sitting uh, in pretty good shape on the account. Yeah, no, it's a drawdown, so I'll be back at about 6400. Uh, on Monday.

But 6400 is, um, still great progress from the initial starting balance. And what's really important is just getting through that first red day. You know, having the right day happen, putting it behind you and then beginning to rebuild, so you know that will be Monday and Tuesday of next week. Beginning the process of slowly rebuilding the account, I think this, um in in terms of other small account challenges that I've done, I've had red days early on.

Yeah, so this isn't really atypical. It's actually probably more unusual for me to have eight green days in a row in a small account. So um, so it was bound to happen and it just happened to be today, and it was Friday. But I'm not going to beat myself up over it.

It's not a catastrophic loss, it doesn't blow up the account, it doesn't even exceed my risk tolerance for each individual trade or for the day, so it's an acceptable loss. Yes, I could always say I wish it was a little smaller, and I think that that speaks to the desire to improve and to get better, but you know that's that's a healthy criticism of a loss. I could have cut it a little sooner and that would have been smarter. and you know I can work to do that better on the next time I'm in a situation that's similar.

So that's all you can do. Try to learn from your losses, turn them into lessons, and then start rebuilding one small trade at a time. You know it may take two or three days to make back that 300 loss if Monday and Tuesday are a little slow. but I have no doubt that I will make it back.

And so one of the things that I always look back at and I do this. It's a big confidence booster and I showed this to you the other day. Um, I look at my um, my metrics you know from the last week or whatever it is and I say okay, this is where I've come from. So right now today I'm going to be in sort of this little dip right here.

You know I just took a little bit of a loss, but I'm still the trader who had this streak right here and I could do this again. So what was I doing? During this period? I was focusing on one trade a day. Eight quality setups. Now I took one trade a day.

Today, it was a good quality setup. No problem with that. It just happened to be a loser. That's the way it goes.

So that speaks to the fact that even the best traders are only right. You know, 65 of the time, 70 of time I was due for a loss, I got the loss and um, that's fine. I'll be back at it on Monday. continuing to focus on one trade a day, eight quality setups and I have no doubt that I will recoup the losses.

but I don't want to think about it as you know, trying to make them back. It's just taking a loss and then moving forward. so I'll move forward and probably continue to average if I can to 300 a day and keep growing the small account. So uh, that's it for me.

It's a little bit of a disappointing finish to the week, I suppose, all things considered, but that's the way it goes and I'll see you guys first thing on Monday morning. All right, I'll see you then. 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.

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