Small Account Challenge Begins
Today I started the small account challenge. I started today with just over $19,000 in the account and ended the day with just under $20,000. A great start!
Obviously I made quite a few new trades today. When the market was oversold like that and showing potential you have to try and take advantage of that. Will it last? I'm not sure.
Today I made around $760 in the small account just on GOOGL. I didn't plan on day trading that one, but when the money is there I have always taught you to take it and run. I don't have anymore day trades left in the small account so I have just transfered just over $1,000 to a cash account also with TD Ameritrade. These two accounts will be used in this challenge until I get near $30,000. Thats just over $10,000 away. First goal is set. Now let's get it.
What's next? expect smaller trades like I have been doing this week. You'll notice that nearly every one that I have been doing is around $500. When I started really growing my account is when I was making $500 trades and taking profit. a few hundred dollars a day adds up real quick. Never forget what compounding trades can do for you:
I have nearly everything done in the account that I need to do except for a few big losses that might still hit it. If it does, oh well I will make up for those losses. I won't be adding any cash to this account and plan on just creating income off of the little money here. The live streaming was tested part of the day today and I will continue to test it to make sure that it works correctly for everyone.
I'm seriously excited about this challenge, I hope you are too!