How I'm Making $286/Day with a $1,000 | Small Account Challenge Ep. 2
Ross Cameron - Warrior Trading
45 min, 45 sec
A day trader documents his journey of growing a $1,000 account, explaining his strategies, experiences, and the mechanics of day trading with a small account.
Summary
- The trader starts a challenge to grow a $1,000 account through day trading and achieves an 80% increase by day three.
- He navigates the complexities of cash and margin accounts, leveraging six times his account size.
- The challenge showcases the importance of discipline, the use of hotkeys for efficient trading, and the potential risks of using margin.
- The trader emphasizes practicing in a simulator before trading with real money and offers viewers a 30-day trial to test their skills.
Chapter 1
The trader begins a challenge to grow a $1,000 account through day trading.
- He explains his motivation for choosing a $1,000 account and leveraging six times the amount for trading.
- The first day results in a green finish with concerns regarding fees and commissions.
Chapter 2
The trader makes his initial trades and provides insight into his strategy.
- He encounters a partial fill on a stock with news, aiming for a quick profit but has to bail out due to stalling movement.
- Despite a red start, he maintains a disciplined approach with tight stop losses.
Chapter 3
The trader continues trading, discussing both successful and challenging trades.
- He executes a successful dip and rip trade on a stock resumption, making a small profit.
- Frustrations arise with stocks under $5, as his broker doesn't provide leverage for these, limiting his trading power.
Chapter 4
The trader reflects on the day's trading, emphasizing the importance of small gains and discipline.
- He stresses the significance of avoiding drawdowns and making incremental progress.
- The trader also mentions the community's role in helping him upgrade his trading setup through subscriptions and likes.
Chapter 5
The trader explains why he believes everyone interested in day trading should start with a $1,000 account.
- Trading with a small account enforces discipline and allows traders to limit potential losses while learning.
- He compares trading to driving, suggesting that beginners should start with less expensive, less risky options.
Chapter 6
The trader discusses the mechanics of day trading with a margin account and the associated risks.
- He elaborates on the restrictions of a cash account versus the benefits and dangers of a margin account.
- Using an international broker allows him to bypass the PDT rule and trade with less than $25,000.
Chapter 7
The trader recaps his progress and looks forward to the next steps in the challenge.
- By day three, the trader has increased his account by 80%, showcasing the potential of disciplined trading with leverage.
- He invites viewers to join a 30-day trial at Warrior Trading to practice in a simulated environment.
Chapter 8
Chapter 9
More Ross Cameron - Warrior Trading summaries
Beginners Guide to Day Trading (with ZERO experience) $1,000 Small Account Challenge
Ross Cameron - Warrior Trading
A deep dive into day trading strategies, including the presenter's personal success, risk management, stock selection, and chart patterns.