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Small Account Challenge aka Warrior Trading Strategy


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9 minutes ago, dmedin said:

If it was easy and simple everyone would do it ...

Easy and Simple is a matter of Knowing and Practice. 

Thousands of people....ARE Doing it! :D

However, I'm failing to control my Time these days and losing track.  I'm yet to figure out the Scanner settings lol

Edited by nit2wynit
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3 minutes ago, dmedin said:

I'm sure there are lots of websites out there willing to sell that information!

Don't forget that this is all so much more important than hospitals, good public transport and crime-free streets!

Vote BoJo :D

lol

 

I really think you've over complicated your strategy d old boy.  Is it going up or down?  Place a Stop.  Get out when it's 1:1 or 2:1.  

Forget TA.  you don't need it.

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21 minutes ago, nit2wynit said:

Any luck??  Still playing with screener here :D

Hi all, Hope you dont mind but I have been trying to do this and somehow stumbled across your forum.

Everything you have all done I have been trying to do the same. Ive been looking for a break out on the gappers but haven't seen anything that looks of interest . Plus IG have closed some trades down to sell only.

Hope you dont mind me butting in. 

 

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alright guys, sorry, trading took a bit too long today and then I went off into the gym before it gets too crowded in there.

Anyway, **** slow day, today.

Finishing at -£180 :( 

Only traded one ticker: VRAY

image.thumb.png.cea545c8d83ec3a5cb5df5c18e9b8b47.png

First got caught on the spike up and consequent sell off at market open. But happy to have kept my risk tight and only lost £116.
Then made a bit of it back on the rebound.
As it failed to make new highs, I though this is gonna be it for the day and went short. However, it actually made new highs in the end. Certainly wasn't expecting that.

All the other tickers on my watchlist were boring as ****, nothing good to trade.

Still up on the week, so tomorrow is gonna be a new day with new opportunities.

image.thumb.png.e255ba2ae8966ec7bd752b6b243d8beb.png

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8 minutes ago, DSchenk said:

God dammit @nit2wynit - I can't work with you like that :D  Need you to be on point at 2.30pm each day, ready to crush it!

Gonna make that screengrab now how the screener works

I know i know pal, I've been too distracted then come 2.30 I'm not in the right place.  Will get there. :D  Though i was watching ASLN as it failed all day.  Clear that the excitement had died a little.  Back to normal I guess.

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18 hours ago, DSchenk said:

alright guys, sorry, trading took a bit too long today and then I went off into the gym before it gets too crowded in there.

Anyway, **** slow day, today.

Finishing at -£180 :( 

Only traded one ticker: VRAY

image.thumb.png.cea545c8d83ec3a5cb5df5c18e9b8b47.png

First got caught on the spike up and consequent sell off at market open. But happy to have kept my risk tight and only lost £116.
Then made a bit of it back on the rebound.
As it failed to make new highs, I though this is gonna be it for the day and went short. However, it actually made new highs in the end. Certainly wasn't expecting that.

All the other tickers on my watchlist were boring as ****, nothing good to trade.

Still up on the week, so tomorrow is gonna be a new day with new opportunities.

image.thumb.png.e255ba2ae8966ec7bd752b6b243d8beb.png

I somehow missed this.  Wondering if I'm seeing all messages as they occur.  I've often had zero notifications to this post also. 



Anyway.  Here's a Tip re Market Sentiment.  Yeah yesterday looked Slow.  If you go to Wall St or FTSE for instance, you can see the make up.  It will either be Largely Red, Largely Blue or a mixture of the two.  This usually tells me which way the market is going on the whole.


Really need to find a decent News source too.


Well done on Risk Management too, though you still need a max loss. 

Edited by nit2wynit
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9 minutes ago, dmedin said:

Yeah ... losing everything you made yesterday the next day is pretty much the definition of pain.  You have to be a masochist to do this to yourself.  It's torture.

That's Risk Management though.  Plus if you're hoping for 1:1 or 2:1 P/L then you gotta lose sometime when going for 70% Win rate. :D

Come on pal, Keep the Faith :D

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20 hours ago, clivevincent said:

Or did i miss something I should have seen but didnt. If there was a trade I should have got on in the gappers please let me know.

What you see or don't see is dependent on what you're looking for.    @DSchenk has outlined search criteria at the start of the thread.  Welcome to the forum.

Yesterday can be considered as 'Slow', but that's not to say opportunities weren't there.  I'm expecting a Slow day today too.  There's a great deal of hesitancy in the air.  Or maybe I'm constipated! lol.

 

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42 minutes ago, dmedin said:

Yeah ... losing everything you made yesterday the next day is pretty much the definition of pain.  You have to be a masochist to do this to yourself.  It's torture.

Still green on the week mate, so all good. Didn't lose everything I made :D

No trading for me today unfortunately, am busy with another project. The funding for my live account got to come from somewhere, right ;)

Wish everyone else good luck today!

 

Btw, Ross did yesterday make his money on DRIO, the leading gapper. We can't trade this on IG, is this all a **** **** crappy conspiracy against us, IG????

For those interested, he also stated his account fees, which are £105 per month for the direct market access platform ( @Caseynotes was wondering this once) and about $2 commission per trade. Also he needs to tax his profits.

So from the $158 he made yesterday, he pays about $16 in commission bringing him down to $142. After 40% tax, he's at $85 in profits.

Who's better off now? UK Spread-betting or Ross? With SB at least I get to keep the full £158, if I make them, but can't trade everything. Will be real interesting to see, which account grows faster in this challenge. Ross is obviously the better trader amongst all of us, so reckon will be quite difficult to beat, even if we have a SB bonus :D 

https://youtu.be/_EDKOfOIJiY

 

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1 hour ago, DSchenk said:

Btw, Ross did yesterday make his money on DRIO, the leading gapper. We can't trade this on IG, is this all a **** **** crappy conspiracy against us, IG????

I can't find a single **** Stock to trade that's popped up on the scanner!!!  Conspiracy you say??

 

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1 hour ago, DSchenk said:

Still green on the week mate, so all good. Didn't lose everything I made

 

If you could automate your system (at least somewhat), it would be far more bearable to ride out the drawdowns and losses.  But then again, buying and holding would have the same effect and then you don't need to look at the markets at all for months on end.

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1 hour ago, nit2wynit said:

In case you're missing the potential in this @dmedin, this is with only £500.  If this was a 20k account, it would have been a risk of £800, with a profit of £3200. :D

I think haha.

 

I don't get it though.  I mean, trading on 1 min chart.  I would kack my pants.  :D

 

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5 hours ago, nit2wynit said:

I had to do it the old fashioned way and simply go down the list.  PG&E is an old favourite.  1 Trade.  Up £82.  Done for today.  Initial risk was £20.  Moved Stop to +£40.  watched it flutter at £90, Sold at £82.

Nice work mate - I'm back in the game tomorrow

Ross did -$12 today, so maybe good I wasn't in the market today :D 

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3 minutes ago, DSchenk said:

Nice work mate - I'm back in the game tomorrow

Ross did -$12 today, so maybe good I wasn't in the market today :D 

It was tough going pal.  Literally 10 or 15 from the scanner couldn't Bid with IG.

He was up $158 yesterday.  So, for now, we're all winning :D

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