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Small Account Challenge aka Warrior Trading Strategy


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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.

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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

 

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  • 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.

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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

 

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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

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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
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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.

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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

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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
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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

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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.

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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
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