Small Account Challenge Begins

Small Account Challenge Begins

Team,

 

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!