The Hardest Part of Day Trading... 💥 DAY 5 | Small Account Challenge

[@DaytradeWarrior]

Download my ThinkorSwim Layout, Micro Pullback PDF, and my Stock Selection PDF Guide: 🍏 warrior.app/tos-free-gifts1

[@infinitelyllc]

💣

[@grim-zj1vg]

Hey ross just wondering how can we switch between paper traiding using your tos setup it seemed after applying your layout the option gos away unless you go back to tos default

[@drock5108]

Hey I’m wondering about how u go about getting healthcare for your family? Do u use Marketplace or find it elsewhere? I know it’s a little personal but right now I have BCBS at my job and I know guys who stay here for the insurance and do trading after they get off. But when it’s time for me to hang it up here I need to figure out things like health care for my family and at what point after I start building a big account when should I pull money out to put into my bank and how much should I have outside my account to make the switch? I’m a truck driver so it’s hard for me to get to a trading setup at home. It’s still gonna be another year or 2 before I’m ready to feel comfortable enough to use real money.

[@TristanLegard]

Today was my second day on this journey. I am only in practice mode and yesterday I did not trade at all. Today I did trade. £26 profit on PRGT, I spent the rest of the day watching.Lets see what tomorrow brings!!

[@anthonyperry8018]

My least favourite part of having no money is also the lack of money, yes 😂

[@infinitelyllc]

me too... holy cow!

[@JonBorpa]

My coworkers had a challenge last month $500 for one month whoever gains the most wins. I won and ended at $1019. If you don’t have 500 bucks you should probably work on that first 😂

[@ericolson553]

It’s one of the hardest things that I’ve noticed is that it’s so easy to have a couple red trades just to see an amazing setup form later that you have no buying power for. I feel like having a bigger account takes a lot of pressure off of individual trades, not getting too attached tho the outcome of one single trade. So many times if I’m using the rest of my cash and I know it’s the last trade I can afford, I find it more difficult to take a loss, sell at my stop etc, because I know it can determine whether I am are red or green on the day.

[@DaytradeWarrior]

This is super common because we never know what is around the corner. That is why the approach is just 20 cents rather than hitting homeruns

[@jameslin8368]

Use small account to build your strategy. You need a sound strategy to build your account. If you don't have a profitable strategy, you'll lose all no matter the account size.

[@jamesbogere6105]

Ross I am in love with your videos. You nail the technicalities and how you feel when you are in a trade I like tge way you verbalise your feelings. It makes me learn how to do it

[@AutumnRainTurkel]

Your video is timely and feels more like trader therapy. It's what I needed to hear, when I needed to hear it. Thanks Ross!

[@iamshaker]

Hey ross. Just my two cents here. I think that traders who have small cash accounts, especially when they're just getting started, should focus on taking 5-10 trades a day, maybe even a little more. I feel like this would help them learn more about the market, while experiencing the emotions of going up and down throughout the day. I say this from personal experience. The more i split my cash into smaller trades, the longer i'm in the market and therefore the more i learn. I'm still in the beginner phase, but since i started splitting my cash into smaller trades, ive gotten to experience different sides of the market that i wouldnt have otherwise been able to experience AND learn from! I feel like no matter how much sim experience you have, trading with your own money comes with its own set of challenges (mainly psychological).

[@DaytradeWarrior]

Great approach!

[@michael-4560]

Great idea. I am thinking the same. On one trade I have to go back to paper trading for the rest of the day and it's totally different. Going to use this approach. Split into about 3 to 5 trades rather

[@iamshaker]

@@michael-4560 Yes! At first, you might not be as profitable, but believe me! The experience of trading with your own money, going up and down on good and bad trades, making beginner mistakes and paying real price, it’ll all work out in your favor long term! At least that’s my theory 😂

[@iamshaker]

@@michael-4560 Hell yeah! In my experience, it helps me learn more about myself and about the best set ups, while experiencing the real emotions of making and losing money. Good luck!

[@adammohney534]

While I somewhat agree with your comment, I also somewhat disagree. From my own experience, I started taking multiple smaller trades each day and it definitely did help me learn the market. My losers were bigger than my winners though on average because I was learning and because I was trading more stocks that were less than ideal. I switched to taking one big trade, focusing on the best set up and I went from being down 20% to finally being green. I'm averaging about a 6-7% return every single day since I started. I have the odd red day here and there, with my red days being twice the size as they were before, but they're less frequent and my green days are 5 times the size they were before on average. TL;DR Multiple smaller sized trades WILL help you learn the market, but likely at a loss. Bigger trades have forced me to be more disciplined and finally become profitable.

[@bbarnett7667]

If you’re new to his channel, do yourself a favor and watch his previous small account challenges. Ross is a beast when he puts himself in a corner.

[@ohayo4699]

what value of his small account?

[@oops-nope]

@@ohayo4699 He starts around $500.00

[@iRembi]

@@ohayo4699 Start was with ~$13K.

[@BarbOnFire]

LOVE Your videos! Always inspiring! Thank you!

[@fate5624]

Your videos are extremely great and filled with incredible information. There is no one on KZbin like you this is top information, top videos

[@DaytradeWarrior]

Thanks! If you are looking for more education check out the Warrior Pro 2 week trial its great for a look inside how we trade every day! www.warriortrading.com/pro-preview-trial/

[@annawells4931]

I love that you're doing this challenge. Im still learning so much. That disipline and controlling emotions is hardest for me. I also suffer from selling winners too soon. My losses always seem to end up bigger than my gains. What tips do you have for letting winners run?

[@ZoltanNFA]

That video was Rossome!! So much valuable profit keeping mindset advice. Definitely watching again to take notes.

[@Jam3sLow8558]

Ross thank you as always for the great in-depth contents, constant reminder and motivation. I mentally challenged from my negative spiral. still trying to get back on my feet and hopefully this video serve as a reminder to stay discipline for me... cheers!

[@richb7938]

Hey Ross! Love your channel and what a great instructor you are, and entertaining. I'm that 68 year old guy that just got emotionally triggered a few hours ago. Even though I have a $150/day personal loss limit, I just blew right through it and $800 in a "death spiral" out of my prop account. That aside, the more I watch your programs, the more I realize I need to learn how to trade for real and quit the prop firm gig. Thanks for the shows and teachings.

[@DaytradeWarrior]

Hey try to keep accountable but mistakes do happen! check out the trial as it could be very helpful! You can check out the 2 week trial to see if you are interested, It Includes the live stream and live trading with me as well as scanners, news, charting and access to a sample of the education portal! www.warriortrading.com/pro-preview-trial/

[@PrashantKapoor-b9k]

bro besides solid technical analysis and the right psychology, your biggest edge is that scanner which gives you alarms on momentum ...

[@HablemosdeMercados]

I started a small cash account in LS with a 2k account that had a spiral with the results last week, just having a better week this one, but still red in the month. Working and adjusting to have a green close of the month... Nice video Ross

[@aydenrkenney7435]

Ross I appreciate all the guidance you give out. I started watching you a 2 months ago. Just started paper trading 2 weeks ago with your strategy. Such a surreal moment when you mentioned GLMD because I bought it at $8.02. I feel like I’m starting to really get the hang of it and I can’t thank you enough!

[@David-ro3jb]

Thanks to your advice I am profitable. One trade a day! Best advice I have received on my trading journey. Thanks Ross!

[@WiryaNikxa]

Hey Ross, Thanks for your content, can you breakdown the time you spend on each steps? for choosing the right stocks and also Due Duty, and how fast we need to be to not losing the right entery point for execution?

[@DaytradeWarrior]

Great question! for new traders it can take them a long time.. once traders get used to how everything works and the market conditions I spend very little time as the scanners and or news tell me everything i need

[@davesian1893]

Ross a lot of gold nuggets in this video. In the past would have been over my head. I used to short, it was easier with a work schedule. I've gotten back to the momentum strategy. Really enjoying it and the way you teach it. Thanks for all that you do. Exciting challenge!

[@lorisinclairminor]

So I’m at the beginning of my trader journey. I’ve watched several videos from different creators on YT & several of yours. I have found you to be very helpful. I am gonna do my first challenge next month fora month but instead of a” small account” 13k like this, I’m doing a MICRO MICRO account challenge mainly because I don’t have much money at all😂 but also I’m doing it for the experience, not to get rich. I’m excited to see how things turn out. If I remember, I’ll keep you posted

[@DaytradeWarrior]

Nothing wrong with a very small account! make sure you find some mentorship or education so you don't feel lost! you can check out the trail here if you want! www.warriortrading.com/pro-preview-trial/

[@TC16888]

Hi Ross, in your earlier video. NVVE had a nice squeeze, but it was followed by a quick squeeze and drop around 7 AM that dropped over 50%. I did not jump in when it bounced back because I was worried it dropped too much. What made you feel comfortable going into that particular trade?

[@bradestes3231]

MACD bounced and stayed positive, volume increasing on one of the most obvious top gainers at 7am...that's my opinion anyway but it was not a typical launch for sure.

[@Prometheus61]

On the age thing, I'm 63 now. And I started at $8K. That's all I have left to my name. Cash only, of course. But, man! Let me tell you, It IS a nail-biter. I'm glad you are proving that it CAN be done, because I had my doubts about TOS for the last 5 months.

[@DaytradeWarrior]

Take it Slow!

[@stacyrich113]

Please! Please! Please! Don’t use Think or Swim!!! It’s a TERRIBLE platform! I don’t know why he endorses this. Switch over to Trade Station or something else that is geared more towards professional traders. Think or swim is terrible at filling orders at the price you want. Look at it this way, NO professional trader uses think or swim. NOT ONE! You will not be successful with TOS.

[@inputexpert]

U can do it. I traded 1 share until I turn the corner. I'm 74. Age has nothing to do with it. be safe. be green. smile. (tm)

[@deonzeelie]

Agree with Ross take it one A trade at a time. Paper trade if you are trying any new strategy. Paper trade for 6 months to make sure your indicators work and guide you. All the best God bless

[@deonzeelie]

You are learning from the best teacher hands down

[@MartinPHE]

seems more a double edge sword, I hate it because I have to bail when it looks bad then it goes back up and I'm out even at 30 40 50 cents it goes up to 1.00 more it leads to I'm going to hold.. Then when you hold it tanks and your pissed.

[@jameslin8368]

That's why trading is glorified gambling. I will even say stock market is a legal Ponzi scheme just like the casinos. It's more difficult than playing poker because the odds cannot be accurately calculated.

[@markseamans4682]

Wow Ross. You nailed it. I had a jackknife today. Then, I kept digging deeper and deeper. I asked you about the one trade a day idea. You confirmed. I'm trying to dial this in. Anyway, sorry, scattered thoughts and ideas. Thanks for the guidance! I'll now watch the rest of the video.... 🙂

[@markseamans4682]

Fyi, 1 trade, green: $290. I waited, watched and controlled my urges.... great suggestion.

[@nathanleaders3355]

Another small account good day I had 150 start on omex at $1.09 added 2000 shares at $1.24 held a little to long. Never sold even thought it was down to $1.14 but it had a lot of volume and looked like it was going to rip back up. bought the drop down as the stock was going back up at $1.2 and sold all 3150 shares at $1.45. Up on the day around $750, best day yet. Could have held for a few hundred more but got out and paid myself!

[@TravisHunter-hm7nf]

OMEX was good to me today as well, but dont hold like that it will not pay off in the long run as I've learned!

[@DaytradeWarrior]

Great job!

[@britney7034]

Hi Ross! Love your content! Best stocks day trading channel for sure! How much money did you start the Thinkorswim challenge? Is it the retirement account? Was just thinking if it’s and you get above 25k, it still going to be a problem to day trade in it as it’s a 401k account, right or am I wrong?

[@melvinmoorman4512]

I think a small account for me has helped me justify what im looking at in the chart alot deeper.

[@k.adrian.e]

You are one Awesome teacher Ross. Challenge accepted.

[@kingyetoe]

VVPR Keep an eye out over next few weeks.

[@Riverplacedad1]

My issue with small accounts is the pattern trade rule. It forces you to set stops larger than you wish

[@deonzeelie]

Brilliantly done 👍🏻 congratulations Ross

[@truedat-f5f]

Thank you Ross. You are always spot on.

[@xagremnightyndale673]

After 2 relatively big red days, this is what I needed. I'll focus on 1 trade per day and focus on improving accuracy

[@bradestes3231]

You just mentioned XCUR in the start of the vid, not even knowing what's about to happen while you record for an hour but I've already seen that future lol. I said I should have known myself that it would go hard with more of that great "we're not getting delisted anymore" news but I was out and not even looking for new highs after the first few minutes. Bummed I quit too early but green is green

[@xaviervila75]

Many Thanks Ross I appreciate your videos so much. Only a question, in this challenge the trades are in post market and regular trading hours?

[@DaytradeWarrior]

They can be both premarket or regular hours!

[@xaviervila75]

@@DaytradeWarrior Gracias Ross, crystal clear!

[@richb7938]

Oh, just one other thing; maybe a video explaining the difference between using prop firms and learning how to trade legit would be interesting. Thanks again.

[@AhmedKamalAbdelhalim]

Ross, what do you do when a stock is squeezing up? Do you still wait for a dip or jump in or skip the trade?

[@adamhassler8556]

I started with inheritance. It's gone. Still going though. Small, slow and steady.

[@pausavino2682]

Hi Ross!! Im a bit confuse to wich time frame use for the micropullback strategy, I'm try to switch from M1 to S10 and I feel better on M1 for now, but I lose a lot of opportunity that happened on the S10 chart... So what do you suggest me about? I would like to find a balance, like opportunity and quality... Thank you for your job!!

[@Tammy-WhammyTV]

Thanks for the video, Ross. I would love to hear what you think about futures trading and prop accounts. If you have already discussed this in a video, please point me to the one.

[@Charlay321]

Invested in this series! Thanks Ross

[@waltdee1986]

I paper traded for about a month and just started trading with a small account on Monday. I do feel that I am hesitating too much on 'A' type setups, simply because it now feels more real. I'm sure this is a normal feeling and just part of the adjustment phase.

[@DaytradeWarrior]

Yes it is, it's the fear of failure that often makes us hesitate

[@melvinmoorman4512]

The way I coped with that transition was to trade ridiculously small share size, like 5-10 max. Mentally I multiplied the losses and winners by a factor of 100. For me that made it easier to adapt….

[@libre5531]

Thank you very much for your comments words, you have no idea how much I needed to hear this, best regards.

[@Unpack]

Thank you Ross.

[@diego81683]

Great stuff can you go more in depth of the fundamental analysis? Thanks

[@gamingisasport]

Thanks again for the free knowledge!

[@jamesperkins9833]

“Sucking a little bit less,” that’s pretty good advice!

[@Faithinfocus007]

Ross so happy started small account challenge with 142 and now it is up to 173.59 goal is by the end of month to be around 250 for this month just starting small for now!

[@Matthansmail]

Perfect video for me, thanks Ross!

[@TellavisedINC]

Have a shwab think or swim and have been trading for a few months. Should I do it in a IRA?

[@jp-fn9ou]

Hey Ross, how much was the initial funding for the small account challenge ?

[@jasonholt124]

13k

[@georgegiorgio]

@DayTradeWarrior Ross, you’ve mentioned many times that your rule of making $1000 before going further during the day, how much do you risk to make that first $1000?

[@TradingMadeSimple-r6e]

You got a point about making it with a small account.

[@johnmaxwell1356]

A 1 trade a day challenge is a crazy good idea. I'd rather make or break my entire day inside of 10-30 minutes rather than sit, scouring the market for half the day (literaly), looking for a "possible" win.

[@MiNiONaToR31]

Do your strategies work with CFDs? I know I am limited in terms of opening time and stocks.

[@DaytradeWarrior]

Yes you can, but not all brokers offer CFDs for small caps, so just check that.

[@jasontaylor2237]

hey Ross really appreciate everything. I have a question. I have Interactive Brokers as well as TOS but for speed of pre-market trading which would you think would be better? I'm thinking IB because it does allow you to offset the trade price. Meaning for pre market I know one can only use limit orders. With IB you can program hot buttons to offset the entry price for +.01 or .02 cent. Just curious to know you thoughts on this. I know with TOS this is not capable. Again thank you sir.

[@DaytradeWarrior]

I have found TOS to be better!

[@Hindsighttoday]

On the macd, what chart do you use to judge when to buy? 5s 1m 5m?

[@nunovurbiznis]

What slippage percentage do you recommend for high volume trades?

[@DaytradeWarrior]

Somewhat small maybe a few cents

[@connorsticklen5229]

The hardest part with a small account for me is all the stress from having to have a perfect trade. When I paper trade I feel that even if the stock is up a few cents it’s ok to take that money but for a small account it’s hard because that will be your only trade for a small gain

[@DaytradeWarrior]

This is why some traders use offshore brokers to get the freedom to trade more

[@planet3trade]

Ross, Do you have this Challenge LIVE every day? If You do, How can I watch this Daily Live Challenge? Thanks

[@DaytradeWarrior]

I’m streaming live everyday for members at Warrior Trading!

[@jastelle45]

@@planet3tradeYes

[@infinitelyllc]

​@@planet3trade yes! ❤

[@3pieceandacoke]

Are you trading (entry) mostly pre-market?

[@rafaelruiz8194]

Would I be able to day trade on Robinhood ? Or what is the best platform to day trade with a small account?

[@Elie941]

thanks ross 😍

[@jonburtness9313]

Margin accounts with less than 25K can only trade 3 trades per 5 business days. 4 trades if the 4th trade is held overnight. That is with Schwab.

[@PQCoachCAL]

@DaytradeWarrior what did you START with in terms of funding your small account for the ToS challenge please? Am I hearing correctly that you started with $12k??

[@DaytradeWarrior]

I started with $13k, it’s a cash only account so I’m only able to take 1 trade per day. Whether I started with 1k, 5k or 15k the strategy is the same. 1 trade per day

[@Unpack]

For a small starting account, how much money do you start with?

[@loylfashion5976]

What is the best trading platform/brokers to use for 1st time traders?

[@DaytradeWarrior]

In my opinion we offer the best tools for beginners all the way to expert traders.. as far as brokers you would have to just find one that fits you best !

[@Joseph.Bmaj9]

Ross is the real deal, I've been learning a lot.

[@tradinigtom2024]

What simulator allows you to trade outside regular trading hours? Couldn't find one....😵‍💫

[@EricLangdon-c7x]

That’s how I lost my account “oh no I need that money back YOLO BIG MONEY on the next stock I see”just to double my loss and I start shaking my phone as if the markets a slot machine 😂

[@DaytradeWarrior]

Been there!!

[@lorisinclairminor]

😂

[@fritz8927]

Hi ross how to open international broker account? Yes if person is a us citizen who leave in the us?

[@treasure1018]

Is it possible to share your fees too, so can see the net after fee? Thanks

[@bmyleoo9848]

i started with a $600 in a cash account, i began to be confident and having green just about every trade after 2 weeks

[@vishavdeepsingh7790]

How can we trade stocks with high spreads. Some stock are moving 50 cent in 3-4 seconds. How can we manage risk on those. I have normal green days and then a red day which vipes up all of my profits.

[@DaytradeWarrior]

Most times the spreads are big on a fast moving stock we reduce share size to off set the risk

[@RhombicChthulhuSONIC]

I too had a brutal day today. And it wasn't even that hard of a day. I fell victim to apophenia and got tilted after 3 consecutive losses.

[@remeshvijayan9486]

I am an Indian working in Oman. Am I eligible to trade like you? Pls advise.

[@joshdickson4426]

Was watching the market this morning and didn't even to take a trade because i couldnt find one that was obvious so i guess that is a good day just knowing to stay out of nothing moving

[@Dino-eo1xj]

thanks Ross!

[@rubenscecilien868]

Hey Ross, i been watching your videos for a while and I'm trying to get more into day trading, i use to trade big company's but my losses were bigger than my gains, came across your channel started trading penny stocks but I'm having trouble making profit, when i find a company catalyst and alot of buyers for some reason I'm having trouble getting into the trade or by the time i enter the trade momentum is gone, any advice for me ?

[@DaytradeWarrior]

It depends on why you are getting in the place you are? are you chasing a large % move or just buying what news looks good? could be many reasons but it sounds like chasing the moves are what the issue could be!

[@vodermore]

What’s your opinion trading from 2pm to 4pm eastern time? People from the west coast, it’s really hard to get up 4am in the morning to trade the pre-market! When the market opens at 9:30am eastern time, it’s time to get ready to go to work for most people in the west coast!

[@DaytradeWarrior]

It can be done for sure!

[@emilyanderson5541]

Ross, What will you do with the money in this account once you meet your $25K goal?

[@bartsross]

Question for the group: When you submit your original order to you, immediately follow it with your stop loss? Do you send your order for profit or submit when reached? Just looking for others thoughts.

[@michael-4560]

I use the same plan PM, market, and AH: I immediately send a stop loss trigger order. I then follow a 'winning' trade with a new stop loss trigger order that cancels the older stop loss. I do not have a preset profit order yet, but submit a profit taking order as I watch the level 2. However the idea of presetting a profit trigger order is a great idea. My so loss trigger orders are buy 1 share that triggers a sell order as stop loss, and can trigger whatever I want them to. e.g. full position or part position

[@TraderRoss]

It's going to depend on what your trading. Fast moving momentum trading you putting in sell orders to scale out of it before it flushes. You would have a mental stop & Ross alot says he using a .20 stop but he is skilled enough to actually stop out & not go deer in the headlights when he's 5k down. Slower trading you can put in a stop & just relax until you profit or stop out.

[@bartsross]

@michael4560s appreciate the feedback and thoughts. I am new, so I am not sure about sending a new order to cancel out another.

[@bartsross]

@@TraderRoss thanks for the comment. It's good to gather perspective as I continue to learn.

[@michael-4560]

​@@bartsrossI trade on das trader pro platform. CXL ALLSYMB instruction on the new order cancels previous orders. I tried trading interactive brokers and through trading view. Both were horribly slow. Das T works amazingly well, fast and no delays

[@jobmoses514]

hey Ross TOS doesn't have 10 second candles, any solution for this?

[@trulosdoulos6849]

Would you say this is a hot, cold, or mediocre market right now?

[@Elie941]

Thx Ross ❤

[@Anne-cv4ms]

I love your shirt.

[@jameslin8368]

Looks like Christmas tree.

[@ncb1003]

Awesome!!!

[@idontknowwhatidontknow]

What about in cold market no pre market trade !

[@MikeMullins-d8o]

prtg was awesome today gave half my profit back also

[@matt3935]

Spirling is my biggest issue that I am slowly working on. It truly turns into a disaster.

[@kencrane4096]

Was your 2017 SAC with Suretrade?

[@DaytradeWarrior]

Yes it was

[@frendolous3422]

i’m noticing a trend where the less trades i do in a day, the greener i am.

[@DaytradeWarrior]

Yep!

[@Timbira666]

If your account only had almost two thousand dollars, how did you manage to trade almost 16 thousand in a cash account? Can you use leverage in a cash account? Ps. I love your videos!😊

[@vanman2743]

Is Ross doing a New tos challenge now?

[@jackiesimplejake]

Having a tough time here, I feel like I truly am learning a lot but I'm also losing. Learn and lose, learn and lose

[@madddaddy3135]

118 fills today on 10 shares , scalping mostly all green until a flush, then to get it back to green 100 shares on six or seven fills and I am destroyed . Down 400 .. overtraded , bad setups , low volume, what was I thinking!😒

[@DaytradeWarrior]

This is the hard part about scalping! one mistake can set you back

[@mename7670]

How much did you start with on this?

[@DaytradeWarrior]

$13k starting balance

[@mename7670]

@@DaytradeWarrior ok thanks. It helps put perspective on the profit percentage.

[@charliemcgrain]

YOU NEED ENOUGH MONEY to be able to recover if you get all of your losses in your first few trades. Even if you have a really good edge, you still expect to have losses, right. I BLEW MY ACCOUNT UP 3 TIMES, (just small 500 dollar accounts) until I learned the proper discipline of choosing the right stocks and cutting losers really fast. So, it cost me 1,500 bucks, until I could finally start clawing my way up.

[@litstar1]

Ross i know u caught XCUR in afterhours?? Thing made a massive move

[@DaytradeWarrior]

I saw that!!