Finished my day-trading with a 1.926% profit. Today wasn’t a normal day when the New York market opened because “Core PCE Price Index m/m” was released at 8:30am, and had made the market a little choppy. I lost in my first position, but then recovered with the second one, and finished the day with a 1.926% profit.
The stock market is not currently doing good and swing traders and investors have lost 3 trillion in the past several months. This is not good news for the economy and I am really sorry to see that the stock market is still crashing, and I really hope that it turns around. However, this doesn’t affect us at all because we do day-trading. We open the platforms every day and trade based on the trade setups we see on each single day, whether the overall direction of the markets is up or down. Therefore, if you want to make profit consistently and grow your account slowly but surely, day-trading is the solution.
The Importance of Starting Stock Trading With a Small Account
People make mistakes if someone doesn’t show them the right way, and they want to do something through trial and error. Unfortunately, most people never ask for guidance before they start something new, and they do it just based on what they think is correct. Therefore, they fail over and over, and then they give up.
When I say you must start your stock trading with a $500 or $1,000 account maximum (first demo and then live), it has a very important reason (read this and this). Learning how to trade is not just about learning the techniques, taking positions and making profits. It is about gaining experience and building your confidence too.
After learning the techniques, if you start with a big account, you will destroy the foundation of the confidence you need to build and have it in your trading journey because your losses will hurt you, and chances are you will give up before you become a consistently profitable trader.
For example, if you start with a $100,000 account and you lose 2% or $2000 on the first day, it makes you scared. Maybe $2000 is nothing for someone who can afford a $100,000 account. But it is still a big loss for the first day.
What if you lose on the second and the third day too??? What if you lose 3 days in a row???
Then, a $6000 loss is not easy to handle emotionally, even for someone who can afford a $100,000 account. Usually, when this happens, novice traders trade for revenge to recover the losses as soon as possible. And, this will result in more losses. You were supposed to build your confidence and become a consistently profitable trader. But, now you are overstressed, disappointed, and overwhelmed, while you have already lost a lot of money that looks impossible to recover. You don’t see it in yourself to recover your losses through trading. So, you either decide to keep fighting more, or you give up and leave the markets for good. If you keep fighting, you will definitely wipe out your account. If you give up on stock trading, you will miss the chance of achieving financial freedom through one of the best and greatest ways of achieving financial freedom.
The joyful journey of achieving financial freedom that could be 100% risk-free and safe too, now has turned into a nightmare and one of the worst memories of your life. But, such a disaster happened just because of a mistake that could be avoided: Starting with a big trading account
What If You Start Your Stock Trading Journey With a Small Account?
If you learn the techniques properly, demo-trade for 1-6 months to become a consistently profitable demo-trader, and then start a $500 live account, you will build your confidence like a big and strong mountain that can never be destroyed.
With a $500 account:
1. If you lose 2% in a position (you must limit your losses to 2% in any position you take), it will be $10 only. Maybe $500 is a lot of money for some people, but still they can handle a $10 loss. Even if they lose 3 days in a row, it becomes $30 that still looks very easy to recover.
2. If you trade persistently and turn your $500 into for example $100K, gradually and by making about 2% profit per day on average (which is what we do in our program), then your confidence is already built and has become the big and strong mountain I talked about above. Such confidence even helps you turn this $100K into $1 million and more, if you keep trading the same way, making 2% per day, gradually, slowly but surely. Trading this way, you can turn a $500 account into $1 million after about 29 months, which is GREAT.
3. Unlike someone who has started with a $100,000 account, when you turn a $500 into $100K and then you lose 2% in a position, you won’t care at all because you have already experienced this a lot during this long journey and you do know that you can easily recover this loss, which is what you have done numerous times before. Someone who has turned a $500 into $100K through making 2% profit per day on average, won’t be scared of losing 2% or $2000 in a position because their confidence is already built, and they are confident about their confidence 😀
This is how it works. It is your choice to have a proper start and continue this journey, or destroy it in the first step.
What Does LuckScout Do for You?
LuckScout helps you become an independent and self-sufficient wealth-builder:
In The LuckScout Community, you and other members of the site have a share from the website’s income, based on your activities and the points you earn. Maybe you don’t need this money. But, there are so many in The LuckScout Community who need it to start their trading journey.
In The LuckScout Community, we help humanity. We help people to achieve freedom, for free, and risk-free. If you want to be part of this program, even if you don’t need the money that LuckScout pays you, still your presence and activities help others who need this money. You won’t pay them any money. You won’t pay us any fees. But your activities on the site, not only (1) help you earn more points to have a bigger share from the website’s income (whether you need it or not), but also (2) they help other members to earn more points and have a bigger share from the website’s income too, while (3) they help the community to make more money, and so on. Above all, your activities (4) help you to become eligible to trade with us every day, which is where you can learn to turn your $500 account into a big capital that makes you financially free.
Change your focus from making money to serving more people. Serving people makes the money come in. — Robert T. Kiyosaki
In The LuckScout Community, you help people to achieve financial freedom through your presence and activities, and other members and the community help you do the same. There are so many who need your presence and activities here. And, “activities” is the price of being part of this awesome program and system that even gives you the $500 you need to start trading risk-free.
Your current month (September) performance and the points you have earned may make you eligible to join us in our private trading room in the following month (October), if you reach the minimum requirements. And, it will be the same every month, unless we decide to modify and optimize the rules and criteria (read this post carefully to learn how we trade and how you will trade with us). We want everyone, including you, to make the most of The LuckScout Community and this opportunity.
I love you all💝
Please see the attached screenshot: