How I'm Making $286/Day with a $1,000 | Small Account Challenge Ep. 2

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

Introduction to the Day Trading Challenge

0:00 - 36 sec

The trader begins a challenge to grow a $1,000 account through day trading.

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

First Trades and Strategy Execution

0:36 - 1 min, 23 sec

The trader makes his initial trades and provides insight into his strategy.

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

Continuing the Trading Day

1:58 - 1 min, 21 sec

The trader continues trading, discussing both successful and challenging trades.

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

Reflecting on Trading Challenges

3:20 - 53 sec

The trader reflects on the day's trading, emphasizing the importance of small gains and discipline.

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

Explaining the Purpose of Trading with $1,000

4:13 - 2 min, 3 sec

The trader explains why he believes everyone interested in day trading should start with a $1,000 account.

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

Day Trading with a Margin Account

6:16 - 1 min, 45 sec

The trader discusses the mechanics of day trading with a margin account and the associated risks.

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

Trading Recap and Looking Ahead

8:01 - 1 min, 0 sec

The trader recaps his progress and looks forward to the next steps in the challenge.

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

Day Four Trading Summary

9:01 - 1 min, 18 sec

Day four presents new challenges and modest gains for the trader.

Day four presents new challenges and modest gains for the trader.

  • Despite trading various stocks, he ends the day with a small profit after accounting for fees and commissions.
  • The trader expresses his struggle with margin restrictions on certain stocks.

Chapter 9

Day Five: Best Day of the Challenge

10:19 - 59 sec

The trader experiences his best day of the challenge on day five.

The trader experiences his best day of the challenge on day five.

  • He successfully navigates trades on NXI, overcoming initial frustrations with share limitations.
  • The day concludes with a significant increase in profit, bringing the account up by 140%.

More Ross Cameron - Warrior Trading summaries

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