Jump to content

Small Account Challenge aka Warrior Trading Strategy


Recommended Posts

Just now, dmedin said:

@nit2wynit Sorry to hear that :(  I do not trade in real shares at all now.  If I did it would only be ETFs.

Yes, though i don't know anything about ETF's I'd have made considerably more by Spread Betting PINS Instead of buying Shares.  As soon as they're either back up to Cost or in Profit I'll be selling.

  • Like 1
Link to comment

Well, that's it from me then for this week.  Even though I've been missing the 1.30pm US Open for the entire week, my  £500 Small Account balance is up £103.  However though I did start with £1877, I only traded with £500 or Less Margin.  I've made a total of £405.67 and Lost a total of £303.24, leaving a profit of £102.43.  On the whole I'm up 25%, but I've given away far too much and actually didn't take profit as quick as i should have.  I Estimate I'd be up about £250 if I'd played the way i know i should have.

@DSchenk where are you?? :O :D

 

Link to comment
  • 4 weeks later...

Ok, so let's have a look what was going on with Ross whilst I've been away.

In terms of trading strategy, this video got released: https://youtu.be/_NAM_oTYUQM

There's a nice pdf you can download for free here: https://www.warriortrading.com/small-account-strategy-lesson/

In short:

  • Scanning the market for biggest gappers with highest relative volume. Price under $20, above $1
  • Entry set-ups: Pullback patterns on 1min and 5min charts
  • Risk Management:
    • Risk $50 to make $100 (or 10% of account size)
    • Daily max loss -$100 (or 20% of account size)
    • 3 consecutive losers and out for the day

 

In terms of brokerhttps://youtu.be/Tm-mOUMkM8E

Answer: CMEG (offshore, to work around PDT rule in the US)

 

In terms of chartinghttps://youtu.be/8wkucabTMk4

TD Ameritrade, cause charts are for free

 

In terms of Starting capitalhttps://youtu.be/RTuq7QXniFc

Answer: $500

 

Matches with my defined rules for this challenge. Can't wait to dive in again.

Unfortunately just found out it's Thanks Giving this week 🤯 No trading on Thursday, and prob no point on Friday neither.

  • Like 1
Link to comment

Not the best start back in today.

 

Watchlist

image.png.38b4b3fdf326f7c2c1c10b6e4d3ab769.png

 

Trades

Was trading well in the beginning on IFRX.
Then tried to make some gains on CHS, which didn't work out as planned.
Raised the stakes a bit and went back on IFRX. Got too cocky in the end and booked a big loss on a $0.10 flush out.

Glad I'm still on Demo :D 

image.thumb.png.14036faff3221f6d3c91423b1f198e6c.png

 

  • Like 1
Link to comment

I've been continuing with my Fail Analysis; re-enforcing why and when not to trade as well as Time of Day etc.  Learning what Not to do is proving far more difficult than What to do! :O  But it all leads to the same result.

 

I've got my account down to £507 so from tomorrow it's all serious.  I'll be putting some time to understanding all of the options in the Trade Ideas Scanner to fine tune it.

Future starts tomorrow for me.  :D

  • Like 1
Link to comment
5 minutes ago, nit2wynit said:

5000 shares??  That's not right, is it?  100,000 isn't it?

What do I know though lol.  I'm a bit late trying to figure this out again.

Won't matter much anyway. As you see most of the tickers gapping up have more than 50k volume anyway. Just don't want to miss anything. As long as the scanner only spits out 10-20 tickers or so all good.

Edited by DSchenk
Link to comment
1 minute ago, DSchenk said:

Won't matter much anyway. As you see the scanner have more than 50k volume anyway. Just don't want to miss anything. As long as the scanner only spits out 10-20 tickers or so all good.

I'm still struggling here.  Put some Filters in and only 1 stock has shown lol.  I'll figure it out later.

Link to comment

Was going well for me today

 

Started off on the wrong foot on SFET. Leading gapper, but was selling off

Then one trade on GTT, which was a break-even

Then I saw ASLN popping up on the screener. Just up 50%.

I jump in and ride it nicely.

Total profit: £581.20

 

I got to give it to you @nit2wynit, this US market open gap and go play is insane :D:D 

Actually think this could work.

My funds in the account are now little over £1000 already, how long should I play on the demo? Until £5k?

image.thumb.png.b77a95355d39e8763648299242ab4a36.png

image.thumb.png.c6be3562e054bfc3d59f3f87ac3e8c12.png

Link to comment

Weeeeew, Fantastic result bud well done.   Everyone seems to think winning on the Demo 'Isn't Real'.....but i beg to differ.   Though this is one of the more Rare opportunities that occur; High % Gains above 10%

I couldn't possibly tell you when to go Live, but I would personally wait for at least 20 Trades and take stock of Loss and Profit findings.    Find similarities in Why and How they worked.  Make sure your P/L is a minimum of 1:1.  No point having 10 winning trades of £20 and 4 losses of £100.
 

Other than that.....BRILLIANT :D  Imagine that was a 20k account...............

Edited by nit2wynit
  • Like 2
Link to comment

Popping up 50%+ on the screener. :D 

That's one for Ross's "High of Day MoMo scanner"

You what he's gonna say: "And then I saw ASLN popping up on the scanner - and I'm thinking, wow, this is gonna go with or without me. So I jumped onto it for the break over $2 and then added at ..." :D Same story everday

  • Great! 1
Link to comment

So turns out Ross traded ASLN, but lost $60 on it.

However, he made like $3k on PNRL. That didn't even show up on my momentum scanner.

Will need to have a look tomorrow why it didn't show up. Would've been a nice opportunity as well.

 

He also mentioned from next week he's gonna focus on the small account challenge, so we should have a better way of matching performance.

Link to comment

Right pal @DSchenk What's on the table today?   I'm late again and still put Zero Time to learning the scanner settings.

I've brought up TI and gone to the left panel and selected Pre Market.  All Windows are Empty of info!

Also, can you move the windows around?  I  can't.  I can Pop Out but can't move what's on screen.

Edited by nit2wynit
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • image.png

  • Posts

    • Copper Elliott Wave Analysis Function - Counter-Trend Mode - Corrective Structure - Zigzag Position -Wave 4 Direction - Wave 5 Details - It appears wave 4 has been completed but we need a confirmation above 4.686 with an impulse break. Otherwise, the price could make a minor corrective bounce below the confirmation level and falter further. Copper prices are reversing upward, recovering from the sell-off that began on May 20, 2024. The broader picture indicates that this sell-off is a correction within the larger bullish cycle that started in October 2023. The current recovery, which began on June 18, 2024, has the potential to rise further and possibly break the high from May 20, 2024.   Daily Chart Analysis: On the daily chart, a bullish impulse wave has been developing since July 2022, when copper hit a low of $3.13. This impulse wave is currently in wave (3). Specifically, wave 3 of (3) concluded at $5.192, and wave 4 of (3) likely ended at the low on June 18. We can anticipate copper prices to recover into wave 5, completing wave (3) above $5.192 before the next pullback for wave (4) occurs. The invalidation level for this wave count is at $3.975.   H4 Chart Analysis: On the H4 chart, wave 4 appears as a double zigzag pattern. Wave a (circled) of 4 ended with an impulse structure, while wave c (circled) concluded with an ending diagonal pattern. A bullish confirmation would occur if the price breaches $4.686 with an impulse wave, indicating a strong likelihood of further recovery.   Alternative Scenario: Alternatively, the decline on the H4 chart could be interpreted as an impulse wave. If this is the case, the current bullish recovery remains valid. However, we would not see a breach of the $5.192 high before the price resumes its downward movement to break below $4.379. Therefore, in both scenarios, copper prices are expected to maintain their current recovery to at least the $4.69-$4.788 range in the near term.   Summary: Copper has been recovering from the sell-off that started on May 20, 2024, within the context of a larger bullish cycle that began in October 2023. On the daily chart, a bullish impulse wave has been forming since July 2022, with wave 3 of (3) completing at $5.192 and wave 4 of (3) likely concluding at the June 18 low. The price is expected to rise into wave 5, surpassing $5.192 before the next pullback for wave (4). The invalidation level for this wave count is at $3.975.   On the H4 chart, wave 4 is identified as a double zigzag, with wave a (circled) ending in an impulse and wave c (circled) in an ending diagonal. Bullish confirmation would be a break above $4.686 with an impulse wave, signaling further recovery.    Alternatively, if the decline is an impulse wave, the bullish recovery is still valid but without breaching $5.192 before dropping below $4.379. In either scenario, copper prices are likely to continue recovering to the $4.69-$4.788 range in the near term. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!  
    • ADI Elliott Wave Analysis Trading Lounge Daily Chart, Analog Devices Inc., (ADI) Daily Chart ADI Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minor wave 3 DIRECTION: Top in 3.   DETAILS: Looking for continuation higher towards medium level at 250$. We have a nice alternation between a sideways wave {iv} and a sharp wave {ii}.   ADI Elliott Wave Analysis Trading Lounge 4Hr Chart, Analog Devices Inc., (ADI) 4Hr Chart ADI Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive   POSITION: Wave {v}. DIRECTION: Upside in wave {v}. DETAILS: We seem to have completed the correction in wave {iv} with a clear three wave structure. Looking for continuation higher into equality of {v} vs. {i} at 254$.   Welcome to our latest Elliott Wave analysis for Analog Devices Inc. (ADI) as of June 19, 2024. This analysis provides an in-depth look at ADI's price movements using the Elliott Wave Theory, helping traders identify potential opportunities based on current trends and market structure. We will cover insights from both the daily and 4-hour charts to offer a comprehensive perspective on ADI's market behavior.   * ADI Elliott Wave Technical Analysis – Daily Chart* In our Elliott Wave analysis of Analog Devices Inc. (ADI), we observe an impulsive trend pattern characterized by a motive structure. ADI is currently positioned in Minor wave 3, indicating a continuation higher towards the medium level at $250. The wave structure shows a clear alternation between a sideways wave {iv} and a sharp wave {ii}, which is a typical feature in Elliott Wave theory, suggesting healthy trend progression. Traders should monitor for the top in Minor wave 3 and the potential transition into wave {v}, which could offer opportunities for profit-taking or strategic adjustments to long positions.   * ADI Elliott Wave Technical Analysis – 4Hr Chart* On the 4-hour chart, ADI continues to follow an impulsive trend mode within a motive structure, specifically in wave {v}. The recent correction in wave {iv} appears to have completed with a clear three-wave structure, indicating a possible resumption of the uptrend. The target for wave {v} is set at the equality of {v} vs. {i} at $254. Traders should look for confirmation of this upward movement as the wave {v} progresses towards the target level, which may present opportunities for entering long positions or adding to existing ones.   Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here!  
    • Asian shares rose to a one-month high on Wednesday, led by a rally in tech stocks like Nvidia which surpassed Microsoft to become the world's most valuable company. The dollar was steady as soft US retail sales data reinforced expectations of the Federal Reserve cutting interest rates later this year. Markets are pricing in around 48 basis points of rate cuts by the Fed in 2024. Trading is expected to be muted due to the US markets being closed for the Juneteenth holiday on Wednesday. Oil prices were steady, with Brent crude around $85 per barrel and WTI crude near $81.5 per barrel. UK inflation slowed to 2% year-on-year in May, from 2.3%, and held at 0.3% month-on-month. Core CPI slowed to 3.5% YoY from 3.9%. 
×
×
  • Create New...
us