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Small Account Challenge aka Warrior Trading Strategy


DSchenk

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On 04/12/2019 at 20:51, nit2wynit said:

Booooom.  Day 1.  Nailed it.  lol @dmedin @DSchenk  Come on Team WT

 

Total £716 :D

 

 

 

 

 

 

Day1.jpg

@dmedin

why is this not proof to you it can work?

these are 4 'risk managed' trades using a £500 account.  My risk on each one would have been £50 or less.

What is there to doubt?  i really don't understand you, but i think you've been studying the wrong strategy for too long you simply don't believe it, or won't believe it.

Why aren't you trialing along side with us doing this?  Go on the Demo,  Look at the watch list, give it a go.  What's the problem?  Risk no more than 10% each trade.  Max loss, Max Stop etc.  Get in get out 1:1  Aim for 50/50 PL

 

Then come back and say it doesn't work.  We'll talk more :D

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Ok guys, still not there. Almost blew it on this one.

First traded OBSV right at the open.
First position was in the green, then I added. Next thing I know is, the prices flushes down 30cents and just like that I'm down over £100. Bad luck? Should've taken profit, wa?

Then I saw ASNA popping up on the Momentum scanner. Wasn't on the gap scanner in the morning because less than 1$. Probably gonna adapt the gap scanner from tomorrow down to 10ct.
Anyway, jumped in and bought the top as always. Down almost £200 by that time.
I thought screw it, I'm going short ASNA as the momentum seemed broken.
At least that worked. Almost made everything back, but still down £43 on the day in the end.

Account balance: £640 (few more days and I'm back where I started :D )

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Couple of learnings for me:

  • I don't think I'm good with adding to my position. From tomorrow I'm going in with 90% of my account size, so that I can't add. It's more of a win or lose situation. Easier to take profit as well. Today on OBSV I didn't take profit instantly, because I didn't add to my position yet. Then I added and both trades went into the red afterwards.
  • Don't buy the freaking top !!! Wait for the pullback.
  • Like 2
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Thanks for posting this. I've been following warrior trading, and using IG spread betting for a while, but could often not trade the same stocks Ross does on IG, as you guys mentioned before, so have mainly been trading indexes so interesting to read! 

@DSchenk Have you found you can use trade ideas on demo account to find gappers pre-market, and momentum stocks when in play please? New to trade ideas, but have been using Benzinga pre -market prep, stocktwits and Finviz to find potential stocks to trade..

Good work with the post, thanks

Edited by dbhill
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Hi @dbhill, welcome to the forum. Nice to see a new name appearing.

Trade Ideas on Demo account works perfectly fine for scanning gappers pre-market.

For Momentum Stocks in play it won't work, because on Demo the data is 20mins delayed. For scanning live I use ProRealTime which you can get for free with IG,if you trade 4x per month (or else costs £30).

I did a screenrecord how to set-up the pre-market scanner with Trade Ideas here (if you've not seen it yet): https://youtu.be/UHoLM5eIwco 

 

Let me know how you get along!

  • Great! 1
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1 minute ago, dmedin said:

The more I hear about Demo the worse it sounds lol.

That's the Demo of TradeIdeas mate. And the 20min delay doesn't matter. Ross builds his watchlist 20min before the open as well, so if you have a quick double check right before the market opens you see the same list as Ross. All easy

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Thanks for the response @DSchenk

I finish work at 4pm so I wasn't able to check through pre market and trade today but I will try and have a look at the pre market through Trade Ideas tomorrow.

I had a few trades on smaller stocks after work and ended up breaking even. Could of come out with a small profit early on but kept trading, got in a bit of a mess and had to trade my way out. Happy with break even.

Traded, CHH, PG&E, OLLI

Checked out the video too, thanks very much, very clear.. 

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4 minutes ago, DSchenk said:

Looking thin today

image.png.e100e6b08d1f6373b25162428d4d9299.png

Remember the ultimate goal here.  This is the Demo.  We're practicing Emotions.  Over trading.  Max Stop, Max Loss.  Timing.

We're not trying to make a million in one day....though it would be nice.

The goal is, to end the day or the hour up 20% of our Capital, or Break Even.  That's it.  Risk only 10%.

Luck is for gamblers, so I  wish you good fortune. :D

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Well, I'm absolutely convinced that holding out for more than 1:1 PL with a Double the Spread Stop then moving my Stop to the Buy In price is costing me a **** load in profit.  

I said Yesterday i would be playing for 1:1 but tested the 2:1 today again and proved why I need to stick to 1:1.  I've literally given back £150 in profit today.  though the trades themselves cost me nothing as i moved my Stop to Buy In, It's still technically a Fail to pocket profit.

So that's it.  From next week.  I will be rigid on 1:1 PL until I can safely grow the account.  I'll use tomorrow to continue testing but then reset my account to £500.  :D

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Jo, been a struggle today. Ups and downs like crazy.

Closing the day -£30.

Traded TTM, PT, IPXL and DEPO.

image.thumb.png.db94f5ff23b65cbaff3acc5017dbe445.png

First trade on TTM, went in on the big move, but got stopped out basically at break-even. Afterwards it surges. Lol

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PT, was hoping for the big move as well, but never happened, lol.
First made 5 bucks, then lost 30. Moved on after that, as clearly selling off and no trades to short.

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DEPO got me badly. First made some bucks on the move up. Cool. Then there was this flat top forming at the high of day and on this false breakout I went in, but it flushed down, taking all my profit. Hating false break-outs.

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Finally IPXL.

Got in on the break over VWAP and got stopped out.
Got back in on the move up and stopped out at break even. Classic.
Then got back in on the next 5min set-up. This time it worked out and I made a good bunch of money. Balance almost at £50, which is where I would've stopped for the day.
Obviously I went in again on the break over high of day and lost it. Balance back to 0.
Tried a quick short afterwards, which was more revenge trading than anything. Also didn't work out.

image.thumb.png.fdc84b6c597b63ea15ef3290bcdfd838.png

  • Thought provoking 1
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Alright guys, this is it for today

Finishing up £48.

image.thumb.png.7bd088f3ed95723a1b1521ca7d6f9e44.png

 

First tried BLRX, but it was just selling off. Stop-loss hit immediately.

image.thumb.png.43069a6c6ee4e4bb2404e5d618d658ee.png

 

After that I struggled to find any momentum at all, so decided to play some shorts on IPXL. Worked out well, especially the second leg.

image.thumb.png.ffb5d40e1537e05c21c74a0b8944ba73.png

 

End of week 3: -£132

Account Balance: £658

Total Performance: +£158

Let's see what we can wing next week, more or less the last real trading week of the year!
If I can get the account back up to £1k, happy.
If staying below £1k, then gonna extend the DEMO into January.

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On 11/12/2019 at 10:08, DSchenk said:

Hi @dbhill, welcome to the forum. Nice to see a new name appearing.

Trade Ideas on Demo account works perfectly fine for scanning gappers pre-market.

For Momentum Stocks in play it won't work, because on Demo the data is 20mins delayed. For scanning live I use ProRealTime which you can get for free with IG,if you trade 4x per month (or else costs £30).

I did a screenrecord how to set-up the pre-market scanner with Trade Ideas here (if you've not seen it yet): https://youtu.be/UHoLM5eIwco 

 

Let me know how you get along!

 

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Hi all, been up and running and watching from the side lines.

Thanks for putting the list up early as I made my own list from the gap scanner from ideas but you seemed to have more plus alot of the tickers I could not trade on IG but jumped on TG Therapeutics at 973 and took some money from that. Then jumped back in at 1059 and she plummeted and my heart just sank. I managed to ride it back up to 1053 and got out with a small profit of £20. Should have put my stop in but am still learning to get out quick . I was so lucky it went back up. Thought I was going to be on a bad loss because I didn't get out early enough.

I find that if you only gain a small amount each day its better that going hard at it and loosing. 

Still got loads to learn.

Anyway cant wait till monday. 

Great content and look forward to next week. Have a great weekend.

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