Day 16 of the Small Account Challenge +$468.65 | Ep. #17
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Today I finished Day 16 of my Small Account challenge and I broke the $10k mark. In the last 16 trading days I’ve grown my account from $583.15 to now over $10k. I was hoping to be at $12,500 by the end of the week, and unless things really pick up tomorrow or Friday, that may not happen. I have to remind myself that even though I’m setting aggressive goals, I have accept that I can’t force trades. I can only take what the market is willing to give me, and on some days, that might not be much.
This morning as I prepared my watch list I was feeling a bit disappointed by the fact that we didn’t have any good looking gappers. The biggest gappers we had were higher priced, which was in keeping with the fact that the overall market was surging higher today. I think the political climate of the last few months has had a positive impact on the market, although it’s certainly not what I would have expected. I expected the market would be choppy or even bearish, especially in light of the surprise election. It seems investors are optimistic that this change may mean a better outlook for large companies. In any case, during 2016 I lost money on the days when the market was up big. Knowing that statistic, I was more conservative today. I scaled back and only waited for the best setups.
In total I took 2 trades in my small account, one trade on $CDTI and one trade on $OMEX. I locked up $468.65 in profits and although it’s certainly not the biggest day of the year, green is good. I have to remind myself that slow and steady wins the race, and today is progress.