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Are you day trading with a small trading account in 2021? I have 3 REALISTIC tips for you to do so, especially if you're a beginner day trader!
🔽Time stamps:
1:20 Review your trading performance in 2019
3:41 Let winners run in day trading
5:49 Build good trading discipline & good trading habits. The only SECRET in day trading
8:35 Focus on ONE trading setup or strategy.
11:21 Recommended day trading strategies for small trading account

Let's start the 2020 trading year fresh. Yes you want to grow your small trading account fast and find that secret sauce I bet... but here are 3 REALISTIC TIPS I have for you. No day trading marketing, no BS.

1. Review your trading from 2019. Note your key strengths and weakness:
My personal weakness in 2019 is lacking patience to let the trade work. Often I'll lose patience when a stock is consolidating for 5 to 10 minutes and exit for either minimal gains or a small loss. Then of course I'd see the stock squeeze and ran to new highs as per my plan 10 min later.

However, my strength is adding bigger size and scaling into winners in trading. It's by doing so that allows my trading risk reward to be a lot greater than 1 to 3. Reviewing your own strengths as well as weakness going into trading 2020 will help you keep your winners big while losers small!

2. Create a good trading discipline & routine for yourself
While most day trading marketing gurus out there tell all the beginner traders that the key to growing small account day trading is their "secret" penny stock buy strategies... the key is really trading discipline!

It doesn't matter if you have the best day trading strategy in the world, if you do not have the good trading habit to keep your profits. I highly recommend watching this video on trading psychology and building a good trading discipline.
   • MUST READ Trading Books, Trader Psych...  

3. Focus on just ONE trading set up or strategy that you're good at
It doesn't matter if you see other traders making millions shorting penny stocks or pump and dumps, if those trading set ups don't work for you... then it's a distraction that can cause FOMO!

Paper trade and find just ONE strategy, and trade only when that set up is present. It could be buying the morning washout for a bounce, or shorting penny stocks with dilution in their SEC filings.

How I grew my small account day trading years ago, was by buying penny stocks in hot cycles, such as the shippers, blockchain, weapon bubble. And focus on trading large cap stock earnings and news in the seasons where penny stocks are dead with no volume.

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DISCLAIMER: I am not a financial adviser nor a CPA. These videos are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.

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