Hey everyone all right. So today is day One of the Small Account Challenge. Take Two. Yesterday was Day one, Part one where I lost thirty dollars and then day one, Part two where I made back fat loss and finished up about 500.

And today is day one, Take Two. I'm not happy with yesterday. I was really. I was really annoyed with myself.

Yesterday I felt like I didn't Really, I just I kind of laid out what my goals were to try to grow the account about 10 a day. Uh, I had said that I was going to try to focus on taking one good trade a day but left the door open that maybe I would take two or three if the market was good. and then yesterday I took one trade and I got in the stock at 880 and it went up uh over 10 all the way up to over nine. I made a thousand dollars on it and then I got back in and then started giving back profit and then I tried to get back to where I was at and I I just ended up over trading.

I finished up 825 before fees and commissions but up. actually? uh, 483 dollars and some. or I now I can't remember what it was but um, I keep saying it any. whatever it was, um after fees and commission So I I spent almost half my profit went to fees and commission.

So it just wasn't a good day and I was like, well I've ruined the small Account challenge because I got off to such a bad start. Um, not that I didn't make money, it's that I wasn't happy with how I traded and so I kind of came back and I thought about it. I said, you know what, Let's just let's just so the account has now 2900 in it, It's still a small account. Let's just do kind of take two.

Let's just try to clear this light. And so today is day one, Take two and I'm so much happier about the way I traded today. I have four executions, one buy and three sell orders. That's it.

and I'm up 274.80 before fees and commissions and commissions will not be big today. So today was a good first day and this is what I'm going to do again tomorrow and the next day and the next day One good trade. Now if that one good trade, the one that I feel really good about goes red, so be it. I'll have one red trade and I'll be done for the day, but by having a higher quality standard, I think the likelihood is higher that I'll have a green trade accuracy.

I don't know what I would strive for. I was kind of thinking maybe like 75 or 80 which would be significantly higher than my average of 65 to 70, but if I am trading a lot less, that may be obtainable for a period of time. You know if I take eight trades and I have two losers, all of a sudden, you know there's not a lot of trades to kind of buffer the losses seriously, drawing down the percentage of success, but that, but that's not really too important. I think more importantly is having the discipline to get in.

Get green, get out, and yeah, get in. Get red. Go red. Stop right there and come back the next day.

That's the small account approach. That was my plan and I just sort of fell into that, uh, bull trap of the market, which is. I got excited, I had a big winner and then I was like, okay, let's go back for more. Wow, the market's really hot and all of a sudden my initial plan was like it was off the rails.

It was gone and I think that that is probably not uncommon. Um, but anyways, so today is a much better day. so it's a little bit shorter. Recap: because there's only one trade to go over.

But I talked a little bit about my main account as well. So I I traded in the small account and then when I was done there, I was like, okay, I'm going to focus the rest of the day on the big account and I guess a few good trades over there too. so that's that's nice. But this is gonna be the recap for the small count challenge.

Day one, Take two. which is another way of saying day two. But uh, day one, Take two. At aka Day two.

I hope you enjoy it and make sure you hit that. Thumbs up and I'll see you first thing tomorrow morning for date. Day two. Uh, take two.

We'll see. Now that's that's the thing. Because now today's day two. So tomorrow would be day two.

Take two because I'm just every day's gonna be. Then the next day's Day three. Take three. Day three.

Take two. Or maybe tomorrow is just day three. and now I'm probably overthinking it. Um, although I guess today is officially day two.

but it's really day one. Take Two. And in case you thought that, my results are typical that this is a normal you should expect. I'll fund an account 2500 and turn it into this amount.

No, you should not. This is the result of someone who's been trading for a really long time. Okay, trading is risky. My results are not typical.

Most beginner traders with a small account will lose money. You should trade in a simulator before you put real money on the line, prove you can be profitable, and then if you're profitable in the same, you can consider flipping the switch to real money. But that first day, you should be definitely focusing on one trade. That's it.

Get in, get out, and you should be trading it with smaller size. I traded with bigger size today. I use the leveraging account as first day with real money. That's not what you should do so I could do day one, take three tomorrow, which would be, uh, trading as if it really were my first day with a real money account.

but that would just be taking the same trade except with 50 shares or something. and I, I don't really think there's any point in doing that. I think that the idea of one good trade a day is what's most important. and then you have to adjust your share size based on where you're at in your progression of learning to train.

Okay, so with that, let's get into recap and I hope you enjoy All right? Day two of the small Account Challenge. So um, or as I like to call it, day one, Take Two. So I kind of wasn't happy about how I traded yesterday. Um, I felt like I was way too aggressive and just didn't really approach it.

I just you know, I think looking back on it, I had. The problem was that on my first trade I had a big winner and then I just kind of got that excitement of wow, I just had a big winner. I'm going back in for a second trade and then I just started giving back profit. So I finished yesterday up 483 dollars after fees and commissions or something like that.

So this morning, um, I came in with a starting balance of let's see account values. Uh, so starting balance this morning, of Uh, 2943 dollars and 16 cents? I said. you know what? I kind of feel like I'm not. I'm not happy about how I trade yesterday, so I'm just going to do a do-over.

I'm just going to pretend that it's day one today. So today was day one. Take two Because the right way to trade on Day one of Small Account Challenge is to take one trade, get green, and get the heck out. So you take one trade on something you feel really confident in, you get green, you get out, and you don't go back.

Now if on that one trade that you feel really confident in, you lose, You cut the loss, keep it small and still walk away and you come back tomorrow. That's what I should have done yesterday and if I did that, I'd be had. Would have been up a thousand dollars yesterday which would have been awesome. Instead I was up 400 whatever dollars.

So okay. Today I sat down, was looking at the Gap scans and in fact our leading Gapper was Dtst Dtst right here. So Dtst uh I was a little unsure about it because it made a big move yesterday and today was just continuation of that move and so I was kind of like I don't know if this is the one but I I decided to give it a try and the place where I bought it was at 1280. There was a seller at 1280 of 30 000 shares and I said i i'm going to buy as this seller breaks and it went 30, 25, 22, 21, 20, 18, 17, 16, 15, 14, 13, 12, 11 and I punched it.

I bought uh about 1200 shares. You can see I traded 256 shares. So I bought um 1 23 shares I guess. Um, and the way I did that was I was just trying to figure out.

Well, based on the amount of buying power I have of 17 000, what's the most shares I can take? I'm not trading just with the cash balance. This is a margin account with leverage which makes it very risky. You guys know that trading is risky and this was certainly it's always risky A trade on leverage. It makes it even more risky because if you lose the money, you end up owing that money to your broker.

So anyways, um, I took one trade. I got in at 1280. I set my profit target. Hot keys for plus 15 cents and plus 25 cents.

Uh, those hotkeys by the time I pressed them were plus 15 and 25 cents against the current ask. So they were at about 1303 and 13 15.. my orders at 1303 did get picked up as it hit a high of 1315 and with that I had one trade, one entry and three exits. So I bought with one order and I sold in three orders.

So I have four tickets. At two dollars a trade is eight dollars in fees. The Ecn fees will be uh, like, eight dollars as well. Point Zero, Zero, four times, twenty five hundred.

And so all things considered, I'm going to be up probably about 255 today, which is a terrific day. And it's a much better first day than yesterday. And so so I'm happy with that. And so what I said was, you know what I'm going to take? I'm going to do exactly the right thing here.

This is my first day. Well, day two. But day one, Take two and I'm gonna put it aside and I won't take any more trades in this account. I'll come back and do the same thing tomorrow.

That is the right way to approach a small account. One trade that you feel really confident in now. um, in my main account. I then said i'll keep trading because it's like 9 15..

So now I'm going to keep trading for the rest of day. my main account. and I am the guy who's down eleven thousand dollars on newegg. How is that even possible? The stock's up 150 today.

Well, I'll I'll show you. Um, I got in right right here on this false breakout. right there. That's where I got in right there.

False breakout stopped out. It flushed down two points. I stopped out at the bottom of this candle at like 35 50 and then it rips up and I was like i can't get back in here I'd be chasing it and then it goes to 40 and I was like i can't get back in here I'd be chasing it Then it goes up to 45 and I was like wow I'm an idiot Look at this thing, go and it goes up to 50 to 60 to 70 and I just kept feeling like I'm if I get back in that I'm just gonna uh I'm just gonna make a mistake. So anyways, this, I'll talk about that during my recap.

I suppose for the main account this is this was really a recap for the small count challenge, But I think most importantly, if I had kept trading in the small account I would have generated a lot of commissions. and um, the trade on Bon was high risk. That was extremely aggressive. It was risky, The trade on Newegg was risky, Vpr Vrpx was was risky.

so I mean kind of everything. Today has been crazy choppy halts going up, then opening way lower. just weird price action and I just am grateful that I'm not read today. So I got green in the small account.

I then flipped to the main account. I got green there and um, yeah, I'll recap that separately in more detail. But so today is day two of the small account challenge and I approached it from a much better place than yesterday. so I think that overall this was A.

This was a solid day for a small account and this is exactly what I want to do every day in the small account for the rest of this week and then going into next week. You know at a certain point the account will be big enough that maybe I'll start feeling like oh, I could go back in. You know, I could go back in for seconds, but you know, if you can get green on that first trade, There's nothing wrong with just saying one trait a day and that's it. I'm done.

There's nothing wrong with that at all. We all fight Fomo. I I fought it Today I fought Fomo and you know, the only I I did try to get back in New Egg on one trade. Uh, and it would have been a winner but my shares didn't fill and then after that I said no.

and that was the dip trade which would have been good, but uh, Fomo can get the best of us. Over trading can get the best of us. And so having that rule of one trade a day? 10 cents a day? you know, 20 cents a day? In this case, uh, 20 cents a profit per share on Dtst? That's a terrific, really terrific day. It's just the fact that it's so easy to trade, just punching the keys that we all can fall into that habit of over trading, getting more and more and more and more aggressive.

And if we start to go red, then we start to try to recoup the losses and then we can start to spiral. So yesterday was, um, I think very educational for you guys just to kind of see like wow, how aggressive I was uh and how it really was. Not a smart way to approach uh, day one with 2500 bucks even though I made more yesterday at the end of the day. I did make more yesterday, but it was not implementing I think a set of rules for a small account that are sustainable in the long term.

It was kind of shooting from the hip and being really aggressive and that type of trading can blow up a small account real quick. So this is day one. Take Two. Day one was part one, part two, and now it's Take two.

Day one, Take two. Start with twenty nine hundred dollars. I'm up, uh, a little less than ten percent on the account today and that's a good day. No, my results are not typical the experience for probably the majority of people that try to trade and twenty five hundred dollar account will be losing money because trading in small accounts is really difficult for a lot of reasons.

not just because trading is difficult, but because of the sort of psychological disadvantage that comes with knowing your back is up against the wall. The commissions are a disproportionate percentage of the profit, so it all makes it hard, which is why it's that much more important to focus on one really good trade, and maybe once you start to get comfortable going up to two or maybe three. But let's see how I do with one good trade for the rest of this week and maybe all of next week. One good trade a day? I don't know yesterday I took.

Actually, I don't even know how many trades I took yesterday. I took a lot of trades yesterday and and so I don't know really what my accuracy was. It was probably like average, you know, 60. Whereas if you focus on just one really good trade a day, you know, maybe maybe I could be at 80 on the week if I have four green days and only one red day and that would be great.

So that's day one. Take two. All right. I hope you guys enjoyed it and I'll do a recap separately for uh, my main account.

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