 Whoever comes in late comes in late right so okay What's up guys happy Monday Today is YouTube live day, right? So if you guys don't know if you guys are new to channel every single Monday at 11 a.m I do a YouTube live the reason why I do a YouTube live on Monday is because Monday is used to be my worst performing day And I used to make these live videos or these video diaries to help me improve my Monday trading And it just so happens that now Monday is one of my best days ever So I do these videos every Monday and the reason why I do them at 11 a.m Is because soon as my trading is done at 10 30 a.m. I cut my trading off at 10 30 I do I've 30 minutes to just go to the bathroom get my shit together and then at 11 I come on so that you guys can see the raw Perspective or the raw mentality of a trader who has just executed that has made or lost money And you guys could kind of pick my brain and I could kind of explain to you what my thought process is because Any more time than 30 minutes. I forgot what I traded. It's on to the next I don't even remember what I traded last Monday. I don't remember what I traded last Tuesday Wednesday Thursday Friday It's out of my head. So whenever I see people making videos from like a week later or two weeks later I think to myself. What the hell is the point of that? That's that's already over. So Sorry the production quality isn't amazing But you're getting raw Perspective and raw trading emotions and raw trading lessons on these live videos And it's nice to see and interact with the chat too. So What I want to talk about today is how to grow a small account, right? And we've made hundreds of videos on this hundreds But the reason why I want to revisit it now is because I actually saw something on Instagram, right? So right now guys, it's 11 0 5 on a Monday, August 23rd, right? So I was scrolling through Instagram. I don't know last Maybe on Saturday or Sunday And I saw something that said The lifespan of a trader or like the goals of a day trader or something like that And it went a little bit like this it went open up a small account You know small account is anywhere between 500 to 5000 in my opinion if you want to start to day trade you need at least 5000 that's my opinion. There's people who have done it with less There's people who have done it with more of a 5000 as a solid number that you need So what I saw on Instagram is this page or this article or whatever it was was the life cycle of a trader So when you want to first start trading your first goal as a trader is to have a $5,000 account Now you could make that $5,000 from selling shit on eBay. You can make that from driving uber. You can make it from You know your day job shit like that, right? So the first thing is how to get to that $5,000 to start day trading. So do all that shit next after you have that $5,000. What is your next step? Your next step is to get that 5,000 and grow it to 25,000 now why is 25,000 such a significant number 25,000 a significant number because that is the pattern day trader rule So there's a stupid rule in the stock market guys that says that if you don't have $25,000 to trade with you could only trade three times in five days Right and that to me is created to help the small guy But do you go to a casino and they tell you oh no you could only trade you could only gamble if you have 25,000 no they don't give a fuck they just want you to go and go and go right so this rule is designed to help The small guy I get it. I understand it. I just think it's stupid, right? But that's your life cycle, right? We're gonna talk about the life cycle of a day trader, right? So your first goal is to get $5,000 to day trade sell shit on eBay sell your fucking Pokemon cards Whatever it is and then once you grow that $5,000 guys once you grow that $5,000 to 25,000 your next goal is to grow that to 50,000 which is a psychological number and then once you grow that 50,000 to 100,000 now the game changes right the game changes and why does it change is because if you got to the point of growing a $5,000 account to $100,000 that means that you have a process that is repeatable That means you have a strategy that is repeatable and that means that you know what you're doing now From the beginning when you went from a $5,000 account to 25,000 to 50,000 to 100,000 Your goal is to grow your capital your goal was to build that bankroll your goal was to build yourself up Now what's the next level that happens after a hundred thousand and this is what I really liked what I saw and this is why we're Talking about after you get to 100,000 your goal is not to grow your capital Your goal is now capital preservation Your goal is to make sure that you don't lose money anymore, right? So sure you're gonna grow and grow and grow but once you get to 100,000 Your biggest goal or your biggest mission is to make sure you don't fucking lose it right and to me That's obvious right that's so obvious like why when you get to that level obviously you don't want to lose it But to me it was like a light bulb clicked in my head and I was thinking to myself Yeah, that is true like we do it automatically like I get to that point. I don't want to lose my money I'm up two million dollars this year. I don't want to lose my money But I often forget in the day-to-day of trying to build and build and build and grow and grow and grow That my main focus shouldn't be on growing and building my main focus should be on preserving my capital Using risk management to not lose that 2 million to not lose that 100,000 So that's the first concept that you guys have to understand that was like very very Enlightening to me right it's very enlightening to me because you know once you get to that level once you have proved your Consistency once you have proved that you could do this your goal is not to keep fucking making crazy money Your goal is to make sure that you never lose it ever again It is very easy to make money in the market guys You could close your eyes and hit a fucking button and make money The hardest part the reason why most fail the reason why most give up is because they can't keep the money You hear it all the time. I made money 30 days in a row. I made money a hundred days in a row I made money sixty nine thousand six hundred ninety nine six nine nine nine days in a row and that one day Wiped it all away All right, that is the most common mistake or the common hurdle that traders face They left one day wipe it away and that's why guys. That's why we've implemented so many barriers So many seatbelts so many parachutes so many insurance policies to make sure that once you do make it Once you do get it to not give it back And these are things that include hard market stops if you are a day trader You must use hard market stops if you are a day trader you must use max size So this is a concept that I want to talk about you guys because I trade these days like a 35,000 to $50,000 account, okay The reason why is because I used to trade with a 35,000 dollar account and every time I moved it to $50,000 I wired out 15,000 now. I'm doing the 50,000 to 75,000 It's nothing more than the same concept just with bigger numbers So it's the same thing so the point is that when I have an account That's let's say 50,000 to make the math easy for me on an account like that I don't use more than like 3,000 4,000 shares on the day-to-day The problem is is that other people other traders with a similar account size use 20,000 30,000 40,000 shares And then they let one loss wipe them out. So if there's one lesson I could give you guys It's proper sizing whatever size you think you should be using cut it in half Right cut it in half and see how much more your trading improves, you know I used to trade at SMB capital right and I had a max size there of like 150,000 or 200,000 shares some bizarre Outrageous ridiculous number right and what I learned every time I was using large size like that. I kept getting stopped out I kept fucking ruining my risk tolerance right and then when I dropped it dramatically to like five or ten thousand shares Which is like a 90% less amount I started to make way more money the thing is guys do not over size do not use large size Give yourself a max size at the broker level for most traders for most beginners I don't think you should be using anything more than 2,000 shares max size Doesn't matter if you have a $10,000 account. I mean doesn't matter if you have a $50,000 account or $500,000 account If you are just starting Just starting and you are over PDT Okay, if you are over PDT and you are just starting 2,000 shares max size if you are under PDT and just starting You know anywhere between a hundred to 500 shares max size and the reason why is because these will protect you This will be your roadblock. This will be your barricade. This will be your parachute This will be whatever, you know, I'll give you an example on the day that AMC crashed, right? So I have a I'm a plaque I have a plaque of my exact trade on AMC when I made $705,000 in one day. So today that AMC crashed I Used 30,000 shares, okay? I used 30,000 shares because that was a first red day setup. It made the most sense to me I was stalking it for a day But before that I was only using 2,000 shares on it and the reason why is because I save I reserve I protect my max size for the best setups only so again, we'll talk about all that stuff in a different video I have fucking tons of videos on sizing, but what I want to talk about is the seatbelts so Max size hard stops max loss What is the maximum amount that you want to lose on your account per day in my opinion? It should only be one day's worth of work So if you are making consistently a hundred dollars a day your max loss is a hundred dollars a day now Why is that? It's because when you lose money in the stock market guys when you lose money in the stock market your confidence goes down I've made millions and millions of dollars in the market and 120,000 dollar loss day. I'm just like Do I fucking suck do I might am I am I meant for this try fucking quit? Doesn't matter what level you are guys because it is a mental game It's a mental game so it hurts you mentally So if you lose you only want to lose one day's worth of work so that your mental is not damaged So that you can make it back the next day cuz think about it if you make a hundred dollars a day And you lost a hundred dollars on Monday chances are you're gonna make it back on Tuesday, right? But the problem is that people make their max loss exponential, you know If you're making a hundred dollars a day and your max loss is five thousand dollars motherfucker It's gonna take you months to make that back and that's what's wrong, right? So set your max loss for only one day's worth of work, right? So we have max size. We have max loss. We have hard stops now timing is very important in the stock market, right? So what I've learned guys is ten thirty a.m. Based on my statistics based on my rules is When I lose the most amount of money after ten thirty a.m. I turn to a degenerate drunk gambling drug addict maniac I don't know what the hell happens a screw goes loose in my brain and because the screw goes loose in my brain at ten thirty I walk away. I leave I avoid it, right? I avoid it because that's my stats, right and just so happens that that is when That is when these zombie rule comes into effect guys, right? So those are all the ways to preserve your capital, right now the tunnel of this video is how to grow a small account, right and In my opinion guys in my opinion the best way to grow a small account is to scalp, right? people have different opinions people have different ideas people have different Mindsets and the reason why I think scalping is such a good way to grow an account is because if you only use a thousand shares And you make ten cents a share you make $100 a day There's a lot of people on the internet and a lot of people on social media that say you got to go for the big Picture plays you got to go for the home run plays you got to go for the big plays But they often forget that before they had million dollar accounts They had to build it up some way you don't start with a million dollar account and look for big picture setups You don't start with a half a million dollar account and look for home run trades What you need to do to build your account and build your bankroll is take ten cents every day Take ten cents every day and call it a day, right? And then after a month you make $3,000 and then the next month you make $6,000 and the next month you make $18,000 and the next month you make $40,000 and then all of a sudden you're now up a hundred K on the year You can now afford to maybe risk 10% of that capital on bigger picture setups So in my opinion guys in my opinion if you want to grow small account You need to use a thousand shares. You need to use ten cents a share You need to be able to make money Repeatedly right repeatedly repeatedly make money the reason why so many traders fails because they go for home runs Right always moving today the VOS the VOS was moving today and a lot of long biased traders were in the stock because of these Discord pumpers right a lot of discord pumpers were in these this stock video s They said it's a buy at six the stock goes to seven. They're silent It's like a ghost town It's like you have no idea where the hell they went right it went to seven dollars and all these guys that bought a six six fifty six six seventy six eighty six ninety seven that had no guidance on how to exit or what to do Stock is trading now a six ten they overstate for a home run and They ended up losing their money So forget the home run mentality a home run happens Fucking after every 100 trades you maybe get one home run So if 99% of the time you're not gonna get a home run Why are you going forward 100% of time? Let me say that again a home run only happens probably one out of 100 trades So there is a 99% chance that your trade is not gonna be a home run trade So why are you focused on a home run trade a hundred percent of the time when you know that? 99% of the time the trade is a scalp and you will make money, right? You will make money. So that's why I want you guys to understand guys is There's plenty of different strategies in the market. There's plenty of different ways to make money in the market You know people make money on crypto people make money on forex people make money on futures I make money on stocks and what I've learned is my strategy paid out one point five million dollars last year It's about to pay out two point five million dollars this year and God willing it's probably gonna pay out five million dollars next year So yes, sometimes on an AMC I go for a home run But that's one time out of a hundred every other day day to day like today I made three thousand dollars. I shorted VV us VV OS at six twenty nine I got out at five eighty nine I made forty cents a share and I walked away, and that's it and that's why I'm here guys That's why I'm here to educate you guys so You guys can say what you want about trading you guys can say what you want about MIC you guys can say whatever you want But I mean, I don't see anyone else coming on here every single week and teach you guys this stuff I mean, I don't see anyone throwing free events. I don't see anyone doing any of the stuff And you know the reason why we do it is because I actually like trading. I'm a passion. I'm passionate about it I like helping people. I like learning from other people as well So yeah, that was basically that's kind of the main things I want to talk about on this video is you know growing from zero to five thousand Twenty five thousand fifty thousand hundred thousand to preserving your capital What type of seat belts can you put on to make sure you do not lose that capital? And what kind of strategies that you could use to find consistency long-term in the market so Now that you have a multi-millionaire day trader here. Why don't you ask me some questions? Let's do a live Q&A guys So this is a live video. So the live chat. Let's start asking some questions. Oh VBS just take Go figure all those people that waited that bought the discount a discord alert That bought all that fucking bullshit ass pump and dump shit that went for a home run trade because home run trades We're the way to make money. You just had a home run loss Now I'm getting full Now I'm getting full. So what do I do I go back to the questions? Hey, hey Alex was the best scalping technique for you what I like to do guys I like to look for pre-market charts that are broken that tank at the open And I short the first resistance into VWAP those are usually solid ones Would I repurchase VV OS if it hits 590? Repurchase no no no it's broken. It just had a death candle guys. You don't buy that shit Hey Greg. I saw your email. I'm actually the guy that helps with support. So as soon as I'm done with this Greg I'll help you out. Don't worry. What time frame are you guys using? I use the one minute for intraday I used the five minute for longer perspective and I look at the daily chart always before I enter a trade What do you think about playing ETF options in a cash account? Avoid it guys avoid that stuff avoid it Avoid the ETFs avoid the options avoid all this shit man Just stick to the basics the reason why you trade options is to get rich quick does not exist Let me tell you something 90% of options contracts fail worthless So you have only a 10% chance of winning. Why would you do that? Alex which broker would you suggest for a small account under PDT if you are outside of the USA use trade zero if you are Inside of the USA use Venom trading. I hope these videos are helping you guys man because you know I was talking to Tosh. I was like dude. I don't even need to be doing this stuff I don't need to be making videos. I don't need to be doing MIC. I don't need to be doing any of this stuff People always say all you guys are making so much money from MIC blah blah blah all the money We make goes back into marketing I make a hundred times more money from my trading than I do the community and the reason why the community exists is to Help everyone out man. So I hope you guys don't take it for granted because one day it might not exist I'm brand new to trading. I bought AMC and GME and held I'm still up on those a decent number I know this isn't real trading this MIC help a newbie become a decent trader Most of our members are brand new traders if I was you bro. I am not an investment advisor. I have no licenses I'm crazy in the head what I would do is I would again This is not investment advice is I would lock in some profits Maybe pay some bills and then focus on learning how to trade the right way guys So we used to have like a big promotions guys the only promotion we have going on right now is half off your first month so for a hundred dollars you could join the community for a month and see what we're all about and God willing knock on wood the watch was paced for itself. So I'm about done guys. I'm kind of tired Kind of want to rest a little bit. So if you guys have any more questions leave a comment on the video and What I'll do guys is because I haven't done this in a while is Leave a comment with one lesson you learned from this video And I will pick someone to get a free monthly membership If not, if you are not selected, it's half off your first month on my investing