Hey everyone Alright, Well today is day seven of the small count TD Ameritrade Side Hustle Challenge. It's a little bit of a mouthful, but this is a challenge that I'm doing with TD Ameritrade Cash only account and seeing you know how how quickly I can grow it and also proving that you can do this as a side hustle. So today on the seventh day, I'm now up just about $1,500 since I started the challenge which is pretty solid and I've been averaging about two hundred dollars in a day. Not bad, right? $200 days I'm seven days B 1400 I'm up a little I'm right around 1500 so making some progress.

It is a little on the slower side and you'll probably notice that I haven't traded in TD Ameritrade every single day. In fact, the last few days we've been seeing some incredible momentum in the first like three minutes of the market. and I've been hearing a lot of people say in the chat room that in the last couple weeks TD Ameritrade has been a little laggy at the open, a little glitchy, and I've kind of thought you know with a small account I really can't afford to get in a trade, have the platform freeze on me and also have a stock drop and I'm just gonna take a huge loss I can't risk it. So for the last few days I really haven't been trading right at the open, but today I saw a stock that fit right within my price range right within my strategy, Took the trade, locked up the profit, and now the account is right up to just under $4,000 Next stop: five grand, then seventy five hundred, ten thousand, Fifteen thousand, twenty twenty-five thousand dollars.

That's the goal for this side Hustle challenge. It's gonna take some time, but you know something that'll kind of be working on over the course of the next few weeks and maybe next couple months or so. As always questions, comments, leave them right down below. If you're not already subscribe to the channel, hit that subscribe button.

I'll see you guys tomorrow Wild card Friday All right everyone, So we're gonna do a recap on my T. V-- Ameritrade Small Account Challenge. Gosh, what's it? What day is this now? I've got to go check on my YouTube channel and see what the last video was I Want to say it's day seven, but I keep I've been off a couple times so let me just confirm what day it is. Let's see.

Uh, that was thousand. All right. So this was the last day I traded in the account and this was day six. So yes, day seven and I'm up two hundred, eighty five dollars and ninety two cents which is terrific.

Could have been a little better, but you know I'll take what I can get. So I traded with the majority of my buying power I Bought a thousand shares of a stock priced at the time at about three dollars and fifteen or three dollars and twenty cents. It was s Gbx. Now S.

Gbx may have been on the Gap scanner a little further down here. Yeah, it was right here, gapping up five percent with thirty nine thousand shares of volume. S GPX Had news this morning of a reverse split. Now, reverse splits are pretty common, especially in small cap stocks.

And to give you a little bit of sort of their back story, when a company does an initial public offering, you know they'll sell let's say a million Ten million shares onto the open market. But you know eventually if the stock gets below $1 the exchange will tell them that you're not in compliance. You have to maintain a minimum price of $1 per share in order to stay listed on the the big exchanges. And so what they'll often do is a reverse flip.

And so a traditional split is when like Apple at $700 did a seven to one stock split. So the next day that the stock was trading at $100 But if you were holding a thousand shares at 700, the next day when you opened your account and saw the price was at 100, Well, you're actually now holding seven thousand shares. and so the float goes up. When they do traditional splits, when you do a reverse split, the float goes down.

So if you're holding 10,000 shares at you know 10 cents, the next day you're holding a thousand shares at $1 And so as the float goes Down. the supply, the number of shares available. A trade gets smaller and that can create an imbalance between supply and demand, especially when it coincides with a breaking news headline like we saw on my Oh going from $7 up to $40 a share in two days. All right, so you know this ended up kind of sparking some momentum in Reverse split stocks over the last couple days.

This was another one that made a big move from 6 to 11 almost 100% And so when I saw Sgp X on the scanner I thought that there was a good chance this would be the next one. So I put it on my watch list pre market and I said that I'd be watching it over the pre-market high which was 333. but I'd be of course watching it out of the gates. I had a little pre market pivot around 3:20 and the bell rang and pretty much immediately it started to squeeze up.

and so and I can maybe dial into the ten-second Charkas boy. this was a quick one and it wasn't as clean as I hoped it would be. Not not even close so it starts popping up. So right in this candle I punched the order to buy.

Alright, now in this candle, it actually squeezes up from 304 up to 334 and then in this candle up to 350 and then in this candle up to 382. I was adding as it was squeezing up. now in TD Ameritrade What I did is I click the Buy market button like right here. click buy market and then over here I want to trade it as well in my main account so I typed in S Gbx and I start pressing shift one shift, one shift one to buy a thousand shares I Then came over here I clicked join ask I wish I had tapped 500 before doing it, but I didn't So I joined the Ask and ended up selling my whole position up 28 cents.

Now this hit a high of 82 382 which was more than 50 cents from my initial entry. but I only captured 28 cents here because I kind of hit the joint ask button a little too soon I feel it was a little too soon. On the other hand, in this next candle it dropped down to 295 and then here it was down to 242. So this was really kind of disappointing that it didn't hold up better I think it was led by a couple of different things happening in the market at the same time.

My oh, the stock that this was sort of sympathy to was dropping pretty hard. Jan JN the other stock that was at the top of our Gap scanner also dropping really hard. So we had a little bit of weakness in the market, which was not the best time to take that trade. The market ended up heating up a little bit towards 1030 as InP X squeezed up and I did end up doing pretty well in my main account trading the stocks that I traded.

but this was not the clean, awesome breakout day that I was hoping and Sgb X I thought had the potential to get up to 4 and it just it just didn't So kind of disappointing that I didn't get as much as I was hoping for there. but at the same time, trading in this account it's all about base hits. I take that base hit and then I you know, reload. look for the next trade.

So because I used three thousand dollars of buying power, I only have about five hundred dollars left. that means I probably can't trade in the account tomorrow and I'll have to wait till the day after tomorrow, so you know that's part of the deal with the small account challenge. One of the things that has prevented me from trading in this a little bit more frequently. A number of people have been reporting issues with TD Ameritrade in the first 5 minutes of the day and so for the last few days I wasn't trading in the first 5 minutes because I felt like I I was just concerned that I would that the platform would freeze up and if I had a big loss I just can't afford that.

Of course my o was too expensive to trade yesterday in the small account, so I didn't even consider it. And so finally today I got a stock that was within my price range to buy a thousand shares which is kind of the you know minimum share size I mean I'll take 500 but I really would rather be trading with a thousand shares because then if I get 15 20 cents I'm actually making a nice nice bit of money. you know, 150 200 dollars. So the cash only account small account challenge with TD Ameritrade is as we would expect going slowly, but at the same time I'm on my seventh day of trading and in these seven days, I've made well.

Now let's see, almost fifteen hundred dollars. I started with 25 hundred. So fifteen hundred divided by seven is two hundred and fourteen dollars per day. Now, unfortunately, I haven't been able to trade in it every single day, but I'm still making some progress despite the fact that this is kind of a backburner side hustle challenge.

And that was kind of the intention because if you're the type of trader that wants to day trade every single day with a small account, well, you're really gonna want to look at a broker like one of the offshore brokers that I used for my small account challenge. So you know, let's put it in perspective during my small account challenge which I started on December 1st I started with 500 dollars so I started with account 80% smaller than this account and let's see how I did in the first seven days. So let's go twelve one, two thousand, nineteen, twelve I don't know. 20, 2019 I'm not sure exactly where what what the seventh day was.

Maybe it was the fifteenth or something. Well, let's see one, two, whatever. Let's just go like this and look at the calendar. I'm gonna type in Cmeg which was go and let's look at the calendar here.

So this was day 1 2, 3, 4, 5, 6, 7 and then this was day 8. So by day 7, which was the 12th, how much should I made? all right. So by day 7, well, I've actually only made eight hundred and seventy five dollars seven days in. so I'm actually doing a little bit better.

However, that was seven days back-to-back and this has been seven days over the course of like three and a half weeks or four weeks because I haven't been trading every single day and of course by the end of the month, I had grown the account to over fifty thousand dollars. Fifty Three thousand. So you know if if you're looking, add a trade every single day and use margin and use leverage, Well, it's not gonna happen with TD Ameritrade But if it's a side hustle challenge and you trade a couple days a week, well that can work. So another another day of progress here during this challenge.

I Guess the same as my first seven days over during the last challenge I Am green. Oh actually no. So first seven days I had to read days. So so far with T V-- Ameritrade I Am green all but one day.

So I'm gonna try to keep it going and get this count up to four thousand and then forty five hundred and then five thousand Seventy five hundred ten thousand and just keep building it as a little side hustle challenge. Alright, so I hope that's been helpful for you guys and I will be back at it first thing tomorrow morning. Hey, it's me again. The most popular video on day trading on YouTube was made by me.

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