The time has come for a small day trading account challenge! It has been a long time coming for me to really put my skills to the test and apply the same strategy that I teach in my 5 hour education DVD. After many requests from new traders I have decided to finally pull the trigger. I have decided to fund the small account challenge with an $800 balance ($784.96 to be exact). The reason I went with this specific amount is because I feel that this is a very reasonable amount that one can afford. I want to relate myself as much as possible to a new trader doing this for the first time! Before the start of this journey I decided I was going to use Suretrader as the broker because this allows me to get past the PDT rule (Pattern Day Trader). The PDT rule is the hardest thing that new traders tend to struggle with. Being under the PDT rule only allows you to have 3 day trades a week. While using Suretrader I can have as many trades as I like, also Suretrader allows me to have a 6:1 buying power. This also comes in handy when trying to grow a small account. However, this can be very dangerous for some if you’re not mentally disciplined.
The type of trading I will be doing with the small account challenge is “Scalp Trading”. I’m taking the largest size I can while using my buying power and I capture 10-30 cent moves. I am only taking the “Meat of The Move”. I come to the market and I “Nail and Bail”. I am being a true “SNIPER” waiting for the right move at the right time. I am only trading the first 15-45 minutes of the market. This is where I am able to profit the most and scalp the best setups. I will be using my hot keys for this challenge from start to finish. I have my hot keys setup for my entries and my exits which allows me to quickly enter and exit trades in the push of a single button on my keyboard. This allows me to drastically improve my trading speed compared to other traders who are NOT using hot keys on their desktop platforms or even web based traders. This is how I am able to trade so fast in a blink of an eye!
I hope you enjoy watching me grow this small account and follow me on this journey. I will continue to post my daily profits and losses on this page as well on social media. Let this journey begin while the pressure is on! Make sure you watch and subscribe to my YouTube channel for daily recap videos!
WE HAVE COMPLETED THE SMALL ACCOUNT CHALLENGE AND REACHED THE FINISH LINE WITH A TOTAL PROFIT OF $101,464.87
I WOULD LIKE TO THANK EVERYONE FOR SUPPORTING ME ON THIS FIRST ATTEMPT AND JOURNEY
I WILL BE STARTING A NEW SMALL ACCOUNT CHALLENGE (SAC2) WITH THE AMOUNT OF $650
-$1,309 on $NSPR $ZN Day 71 (SAC) extremely annoyed was up +$3900 this morning and gave back my profits and ending the day RED! Have a bad flu 🤒 not focused! Like this and retweet on twitter for a youtube video later on of my trades I took #mafiatrading #mafiadaytrading #leg… pic.twitter.com/1G4Dofv7MU— Magic Mike (@mafiadaytrading) February 14, 2018
+$1,678 on $ZSAN Day 81 (SAC) WE HAVE CROSSED THE $100K FINISH LINE WE HAVE OFFICIALLY COMPLETED THE SMALL ACCOUNT CHALLENGE THAT WE STARTED 81 DAYS AGO WITH ONLY $800 DOLLARS 😊 #mafiatrading #mafiadaytrading #legitboss #teammafia pic.twitter.com/OlMSNwB9B1— Magic Mike (@mafiadaytrading) March 2, 2018