[Small Account Challenge aka Warrior Trading Strategy]

Will be looking at.

Gameplan: Focus on Basehits, Don't jump in too high, Cut losses quicker, Switch to 5min chart after 15mins

Profit target: £100

[Small Account Challenge aka Warrior Trading Strategy]

Doesn't look like the most exciting gap list of all time today

[Where do I find the order book]

Wow, 100 per month. That's insane.

Thanks for checking anyway @CharlotteIG

There's gotta be a cheaper provider for US Level 2 out there - anyone know anything?

[Small Account Challenge aka Warrior Trading Strategy]

Agree, join us on the demo buddy, @dmedin

Maybe we can crack it together

[Small Account Challenge aka Warrior Trading Strategy]

53 minutes ago, dmedin said:

Are these videos free or do you need to subscribe?

You can watch the mid-day market recap for free every day, but the live trading is his paid program

45 minutes ago, dmedin said:

And if it does ... all we need to do is all copy him and we'll all be millionaires like him?

Plain copying him won't work, cause of the Spread-Betting limitations me and @nit2wynit call out. But essentially that's what we're trying to do. Not as easy as it sounds though  as you see in the thread - you still need to overcome your own emotions. A strategy is just a strategy - pulling the trigger at the right time is a whole other level.

42 minutes ago, dmedin said:

I'm surprised he has time to trade with all those videos - not just recording them but editing and uploading them must be a full time job

Well, trading is only 2 hours per day, right? The rest goes into his business:

• His youtube channel probably makes around $50k a year in ad revenue
• He sells his book (I bought one). His rank is about 50,000, that's about 5 books sold per day or about 2000 per year. Let's say he earns $5 per book sold, that's another $10k per year.
• His trading chatroom is between $99 and $197 per month, let's average at $125 per month or $1,500 pa. How many of his 400k Youtube Subscribers will be signed up there? 0.1%? That's 400 and another $600k income per year.

Totalling these 3 at $660k income. Not even considering trading.

You see, succeeding in business always wins.

 

[Where do I find the order book]

Although there is still no L2 for the US market via L2, right @CharlotteIG?

That would be another point to pick up with the desk or whoever is owning that service.

[Small Account Challenge aka Warrior Trading Strategy]

Well you can get reversals with every chart size. Question is are you trading the reversals or are the reversals catching you off?

2 minutes ago, dmedin said:

Is there any evidence that this Ross character actually makes money?

Going live daily and doing it in front of the camera not enough?

[Small Account Challenge aka Warrior Trading Strategy]

1 hour ago, dmedin said:

I still don't recommend trading on 5 min charts.

What chart would you recommend then?

I think in the first 10 mins of the day, the 1min chart works best, everything else is just a single bar jumping up and down - no entry possible.
Afterwards, the 5 min chart should work pretty well.

I might be focusing too much on the 1min chart after like 3pm, where the 5min might be better suited.

[Small Account Challenge aka Warrior Trading Strategy]

Yeah agree, bit of overtrading.

Analysing my past days, it seems that if I had closed the books at like 3pm (half an hour after market open), I'd be better off. My first 2-4 trades of the day seemed the ones with the highest success rate. Straight at the open, first pullback. Afterwards I typically jump in too high and lose it again.

Let's see what tomorrow brings, but maybe I should work with dynamic position sizes.

Like first trade of the day with 100% size. If in profit, then scaling back to 50% and after 3pm to 25%.
That way you might add a little more to your profit or lose a little, but not all the profit you made.
Question is, if first trade is in the red, then downsizing won't bring you back in the green, so then either call it quits straight or go in again with 100% until max loss hit.

Mindful this goes against Ross strategy though. Think he plays the first trade of the day small (create a small cushion) and goes up in size afterwards.

Dunno

[Small Account Challenge aka Warrior Trading Strategy]

Alright, it's been a psycho thriller today

Ending the day down: £107.40

Good start with PCG, two trades in the green. Then two trades in the red. Essentially back to 0.
Then saw TGTX going wild on the scanner, so jumped in. Obviously, I made it again to just buy the top of the move. Happens to me all the time. Lost a few bucks on that.

AR, also from the watchlist was next. Total thriller. My first position went straight into the red, then I took another position on the reversal. Worked out in the end with £36 and £30 profit on those two positions, but been sweating all the time.

In between small trades on TGTX again, but stopped out at break-even.

Finally DTIL. Shouldn't have really traded this. Down 40% on the day and was trying to catch some reversals. Didn't work out. Should've sticked to gap and go, then at least would've finished the day on break-even.

My account is still up, but back at £683.7.

Let's see if I can bring it back to £1000 this week.

[Small Account Challenge aka Warrior Trading Strategy]

Mindset is everything, but family is more important! Enjoy!

[Small Account Challenge aka Warrior Trading Strategy]

That's what I'm gonna be looking at.

Gameplan: Focus on basehits (£10, £20 profit). Don't go into red. Daily goal: £100

[Small Account Challenge aka Warrior Trading Strategy]

Loads of good stuff happening today

[Small Account Challenge aka Warrior Trading Strategy]

Still on Demo mate.

Will only go back to live in January and only if the Demo account has at least grown to £2k.

[Small Account Challenge aka Warrior Trading Strategy]

Ok, another red day for me today.

Wasn't really having any luck today.

First I was trading ECPW, but got stopped out at break-even 4 times in a row.

Then I jumped onto KLXE and made some nice profits: £82

I thought only £18 short of my daily goal, must be possible to find something else to trade.

I saw WLL popping up on the Momentum screener and jumped in. That's when things went wrong.

I nicely caught the end of the move. God dammit! Once I realised that I tried going short, but also didn't work out. Although would've been a nice one to short - but guess I was already at the end of my patience at that point.

Learning of the day: Realise when it is a slow day and take the profits you made, no matter how small. Small profits are still better than small losses  

 

End of the week 2 stats of the small account challenge:

Weekly Performance: -£117
Account Balance: £791
Total performance: +£291

 

[Small Account Challenge aka Warrior Trading Strategy]

Not the most exciting watchlist today

Goal: £100 (would also make me break-even on the week)

[Small Account Challenge aka Warrior Trading Strategy]

Also found one where the maths don't end up

LXRX - market cap $449m > $250m - but still not tradeable

[Small Account Challenge aka Warrior Trading Strategy]

ok nice one @Caseynotes

quickly checked today's scanner and seems to match

SAVA, BHAT, CRIS not tradeable, cause market cap too low

@CharlotteIG How can we put a request in with IG to lower that threshold to maybe $50m?  That would help us a lot 

[Small Account Challenge aka Warrior Trading Strategy]

6 hours ago, Caseynotes said:

If I remember correctly on IG US stocks need a min market cap of $250M to be included on the leveraged platform

@CharlotteIG That would be fabulous to have confirmed from official side. If this is the rule, at least we can plan with it

[Small Account Challenge aka Warrior Trading Strategy]

Ross made 74 bucks today. Maybe we should lower our expectations a little. Shoot for £50 profit target instead of £100 with £500 funds.
If my profit target today would've been £100 (£1000 account size), I could've stopped after my first trade and walk away.

https://youtu.be/mrpFiHkWENo

 

[Small Account Challenge aka Warrior Trading Strategy]

1 hour ago, nit2wynit said:

But the drop could be coming for Aurinia

Still not dropping, wa?  

Tomorrow will be better - we just need to overcome emotions. Tricky bit

[Small Account Challenge aka Warrior Trading Strategy]

I'm done for today

Been a lousy trading session

After about 10mins I could've locked in my £200 daily profit goal. Failed to do so.

Now ending the day down £190.

That's what I was trading

Good start, capturing the move from 900 up to 1100.

Then got burned on what I thought would be a reversal.

Then at the actual reversal I placed a couple of trades, but somehow got stopped out all the time, where this should've been some easy profits from 950 til 1050. Weird one.

Let's see what tomorrow brings - currently down £98 on the week, should still be possible to finish the week green

[Small Account Challenge aka Warrior Trading Strategy]

Anyway, game-plan for today (Note: Last, Volume and %Chg is yesterday's data)

[Small Account Challenge aka Warrior Trading Strategy]

@CharlotteIG Exactly as @nit2wynit says

Scanner today

IG has all those tickers on the platform, but

• AKER can't be traded at all (long or short)
• BNGO can't be traded at all (long or short)
• DLTH can only be traded long (going short is not possible)
• SEAC can't be traded at all (long or short)
• EXPR can only be traded long (going short is not possible)
• ...

Is there a system behind why some of those are long & short restricted and some of those are short restricted?
Short restrictions make more sense to me, if you can't borrow you can't borrow, that's fine.
But long restrictions don't make much sense to me, other than IG wants to protect their capital.

[Small Account Challenge aka Warrior Trading Strategy]

1 minute ago, nit2wynit said:

I'm beating Ross by a mile lol.

Keep going mate - who's at 1mil first - this is here the question  

Also we need to switch to live first