So with trading as you probably know right now, I'm trading with a larger account I have a six figure account and so I could buy 10 000 shares of a stock and if I make 12 cents I'm up 1200 bucks and you might say Ross that's awesome. but I'm only trading with a three thousand dollar account if I make 12 cents on 200 shares I'm up 24 bucks. It's nothing. so for me to make 200 a day I have to with those 200 shares, get a full dollar or share out of the market and that's what I'm trying to do.
I'm trying to get a dollar a share out of the market and if you are approaching trading from that mentality, what you're doing is you're disregarding what the successful profitable Traders are doing. You're throwing it out the window. You're saying oh, that doesn't apply to me because I have a small account and that is exactly wrong and that is going to lead you to failure. It's wrong, what you want to do and this is I Believe this with 100 of my heart.
What you want to do is you want to look at what those successful Traders are doing and you want to try to replicate it on a smaller.
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where the coffee is hot and so is the chat
Because they are not you. Lol
Not a fan of this one. I think this is misleading. Although, I dont think purposely misleading.
While I agree that $1 per share is silly/wrong, the truth is that, in order to get where you are, you eventually used heavy leverage on a small account, which is extremely risky for a "typical" trader with a small account.
The difference is, you knew what you were doing by then, so the probability that you would do well, while taking on massive risk, was higher.
So in that sense, I agree that watching what other successful traders do, is important. But its not as simple as replicating, on a smaller scale.
The whole concept of scaling is massively complicated, scary, risky, and different, for every successful trader, and every single trade.
Most successful and unsuccessful traders break their rules. And in so many cases, its because they're going in too heavy (scaling) at the wrong time – sometimes its because theyre chasing or averaging down while in the moment.
All Im saying is, replicating on a smaller scale (which is how this video ended), is nowhere near the whole story. If replicate on a smaller scale, and cant eventually scale up, you'll end up in the same boat, as trying to get a $1 per share.
I’m only trading on a 100$ account and I’m negative 😭😭😭
🤔
Love it.. thanks.. my goal is to make 5 cents per share with a 4K cash account. I only make 2 trades of 1000 per day. I’m practicing on my entries and exits and controlling my feelings. Consistency is the key. A couple of years then I’ll increase my size. 👍🏼is a marathon not sprint right?
Thank you Ross
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I'm trying with 40% per day 🤣🤣
that's it