The two week trading challenge is over and I failed. My goal was a two week double up. But the 34% I did hit IF done every two weeks is 1M 1,000,000.00 in 6 mos. That’s my new trading challenge and I explain how these trading challenges can help you learn how-to trade stocks and build a small account.
This is Part FIve of the “Freedom Traders” Series – How I Learned to Get Over the Wall and What May Help You.
There are links at the bottom of this post to Part 1 : My Personal Stock Trading Story. How I Blew up Two Accounts and Then Learned How to Trade, Part 2 : Trading Checklist – Rules I Follow Before Triggering, and Part 3: Now I’m Inspired!.A Struggling Trader That Inspired Change, Part 4: We Want (Need) You! Apply to Nearest Recruiting Station.
Introduction:
This post is about my journey in challenging myself to become a better trader and how that might help you learn how to trade stocks.
There are many ways to become a better trader that I can administer in my discipline, but one thing that happens when you trade day in and day out is that focus gets easily lost in the noise. The noise of the markets, this thing called life and the noise in running businesses and more.
Hopefully this method of focus (trading challenges) assists you in your focus, helps you be a better trader, and for those that need – it may also help you with building a small account. You can use the same methods involved here Swing Trading as well as Day Trading.
So lets get started and I will explain below how to take advantage of our documentation of my journey to your benefit.
The Two Week Trading Challenge is Complete
So yesterday, Friday, was the last day of my two week trading challenge. The goal was to double a small account and I didn’t – I accomplished a 34% increase on the trade account balance. Is started with 20,000.00 and ended up with 26,772.00.
Here’s the tweet:
Likely it now for two week 20k double small account trading challenge +6772.00. No double but 30%+ is okay ROI #tradingchallenge
Likely it now for two week 20k double small account trading challenge +6772.00. No double but 30%+ is okay ROI #tradingchallenge
— Melonopoly (@curtmelonopoly) May 12, 2017
We video recorded the challenge daily in the room and have posted the daily trading room videos to our You Tube channel.
My New Trading Challenge
The new challenge will start Monday. The challenge is to meet the same return (34%) every two weeks and compound that amount every two weeks (compound trading) for six months. And after six months, if I succeed, that small trading account will have one million dollars in it. We will as always, trade live and record the process in the trading room and post it to You Tube.
If I fail then hopefully I come close. Either way, it is a great way to stay sharp and focused on winning. Turn off the noise and trade what is important.
I should be able to do it because in past trading challenges I usually did much better than this most recent one.
I failed. My goal was a two week double up. BUT 34% I did hit IF done every two weeks is 1M 1,000,000.00 in 6 mos. That's my new challenge. pic.twitter.com/2fzD5nzRl0
— Melonopoly (@curtmelonopoly) May 13, 2017
How my Trading Challenges Can Help You Learn How To Trade Stocks and Build a Small Account
We are documenting the process in various ways. It takes loads of time to document this process, but we’re slowly getting things up on You Tube and our blog is full of daily reports and analysis of trades etc.
And it seems to be helping! Getting a lot of feedback from people – really, really nice to see – it feels great!
"Best week in trading journey". 👊🎯 Now that my busy day is over, I re-read this in my study time. Importance of that statement is humbling. https://t.co/VqS0jobmUe
— Melonopoly (@curtmelonopoly) May 13, 2017
Below is a quick guide of how to access this documentation for your personal trade study;
Pre Market Trade Set Up Review. Every morning at 9 AM in the trading room I review with trading room members the set ups on momentum stocks for the morning. When we have time we post this specific half hour session to our You Tube channel. If we don’t have time to take that snippet there is always on our You Tube channel the complete raw trading room footage posted.
How does the premarket prep help you learn to trade? You need to know what you are looking for if you are going to trade momentum stocks. It is critical to success.
Market Open – Momentum Stocks. When the market opens (as with premarket) we endeavor to snip that and post it separate to You Tube. Same as above however, if we don’t it is still on the raw trading room video that is posted daily.
How does watching the market open momentum trade videos help you learn to trade? Often when I’m in a trade I explain what indicators I am looking at and why. Momentum stocks are more predictable than most realize, but you do need to know how to trade them properly or you will blow up your account.
Trading Room Raw Video Coverage. As I mentioned above, we record the whole session. When you review the raw video there are a few things to know. The video is turned on in premarket, which can be an hour or so before open. The time you see at the bottom right of screen is my local time. The more recent videos are done will have that time in mountain time so you have to add 2 hours for New York time. This is important because if you are looking for premarket comments, market open trades, mid day reviews or you want to correspond the time that may be noted on the transcript (more on transcripts below) with the raw video coverage you need to add two hours to the time you see on the screen that you see in the video. The transcript times noted are Eastern, the video time in bottom right corner (at least for now) is Mountain time. So that’s important when trying to correlate the transcript to the video.
Mid Day Chart Set Up Review. This is one of the most important parts of the day in our trading room to review if you are wanting to get swing trading ideas, learn how to trade stocks and the indicators / disciplines therein and for many other reasons. We do a mid day chart review everyday from 12 noon – 1 PM. You will find that if you review the last two weeks (during the trading challenge) that those videos are full of stock set-ups and trading knowledge. I am one step at a time taking the traders through the steps of trading with various indicators and trading disciplines. Here again, if we don’t post the one hour snippet you can still access it by reviewing the raw footage for the day (most days there are two videos of raw trading room footage by the way).
The last two weeks we dealt with what I would call chapter one of how to use indicators for trading (daytrading and swingtrading) and how to find the proper chart set-ups. So every day at lunch we’ve been reviewing chart picks, chart set-ups, and I have been training on charting indicators and how to trade through the set-ups.
Our members can even ask for specific charts to be brought up on the trading room board and I will review their charts, give them my take on the set-up and my take on when I would enter or exit the trade on daytrading and swing trading time-frames. Our members can even send me their trading plans and as I have time I review them and send back any comments.
Also, we just started what I would call Chapter Two of trading chart set-ups in the room on Friday, we are now getting in to more Fibonacci work, risk reward, and how to trade out of bottom set-ups with moving averages and fib extensions.
Premarket Trading Plan Newsletters. Our pre market newsletters explain what I am looking at in the market for the day. They include various tickers on watch and why. Live trading room newsletters and live trading room access, alerts, and newsletters option.
Post Market Trading Results Report. The post market reports are one of the best learning tools we have for traders. The complete transcript from the trading room for the day is in the report, the various trade set ups for day and swing trading are discussed, my trades for the day are reviews, the trading room raw footage is embedded and there are various other things a trader can use. You can take the trades in the transcripts and see what was discussed in the room (chat) and also review the trade on video feed to see what I had to say about the set up and more. As we get time we are also snipping individual trades and putting them up on You Tube.
There are also many other ways you can access our documentation to learn, I do regular one on one trade coaching, we hold trading academy sessions, we have a swing trading platform and many other ways for a learning trader to dive in and get at it – view this link.
I’ve Heard It All Over the Years from The Naysayers – Transparency is Key & Challenges with Building a Small Account
I’ll just say it quick, we endeavor to be the most transparent traders on Wall Street. Why? Because it deals with the trolls and naysayers fast. If every call, every trade, everything we do is documented on video and in various blog posts etc then that deals with the naysayer. Now, there are very real and considerable challenges to building a small account – especially as you scale.
You will find if you attend our trading room that there are not a bunch of wild west cowboys blowing their brains out. We win, we all win a high percentage of the time. And for those that don’t believe that the majority of our members win most of the time – review the daily transcripts and tell me I’m wrong. Why do we win? Because we respect the disciplines of a process in trading. We don’t gamble.
The bottom line is I take a small amount (in this case a 20k piece) and start a small account and go about building that.
Now, specific to building a small account as it relates to trading… there are challenges. There are things (risk) such as blowing your account up. Or, for example, as you scale there is the issue of sizing in and chipping out large entries and how exactly that is done and what type of instruments you can or should be trading at various levels in the build of your account. Some of things are dealt with here on our website also (see the last section of that page about the compound trading discipline).
Nonetheless, ALL OF THOSE concerns will be dealt with as I build my small account (this post would turn in to a book if I explained each here). How will these concerns be dealt with as I build my small account? I will be of course training and working with our members in the trading room all day long on the various disciplines therein. How does this help you if you are not in the room? In two ways; one; if you are not a member you can access the information I pointed out above and two; if you are a member we will be compiling slowly polished video series that will deal with each trading set-up and discipline / challenge you will encounter in building a small account.
How to Get Involved
Swing Trading – If you have a day job and you’re a swing trader we have services for you – visit the website. You can get swing trading newsletters with set-ups regularly and you can view trading room videos in your personal down time at home when you are not at work. This trading challenge and the disciplines therein apply to swing trading also (as I mentioned above). You can even on your day off come in to the trading room on occasion over the lunch hour chart review and ask me to review charts you are considering. Or, you can send me your charts.
Day Trading – If you are a daytrader you can get in to our trading room and trade along with us. You can even take that up a notch and join the challenge with me. Send me a note and tell me you’re ready to do that and I’ll work with ya and you’ll be part of that team. You may shoot for 1% every two weeks or even 34% like myself, or whatever, it doesn’t matter.
Casual Observers – Our post market trading results reports are published to our blog daily and they are not locked. You can review those and the publicly available videos anytime on You Tube.
What’s My Plan Going Forward?
My plan going forward is to have a trading room with winners. That’s it. I don’t care how big the trading room is – we do very well with our algorithmic model charting services and the trading room subscribers could never match that or even come close as it relates to my financial benefit. So I’m not doing this for that. I’m doing this because its a passion. I love trading and I love seeing new traders get out of the muck and mire the industry noise has them in. It’s brutal – very, very brutal and I’d like to be a part of the solution.
"Learning to trade for profit (a predictable process) is largely about deprogramming the noise that works against us."#freedomtraders
— Melonopoly (@curtmelonopoly) May 13, 2017
In January I want to hold a Freedom Traders summit where we can all meet, somewhere on a beach and finally meet face to face. Have a few days to unwind, celebrate in our success, take in some leisure events and maybe have some guest speakers. Basically I would like to award us with a job well done.
Let me know if any of this appeals to you and lets get you involved.
My challenge starts Monday and I hope to have you along for the flight!
"Your attitude, not your aptitude, will determine your altitude."
Zig Ziglar#attitude #billionaire pic.twitter.com/ZmHimzwRxj
— BILLIONAIRE MAGAZINE ® (@BillionMagazine) April 27, 2017
Enjoy your day off!
Also, I’ll do my best to get the “How to Write a Trading Plan” out sooner than later.
Click here for the link to sign on to any of our services. https://compoundtrading.com/shop/
Message me anytime with your story or questions. And if you follow me on Twitter and I don’t follow back so you can DM then send us an email to [email protected] with your Twitter handle.
I have had a number of people message me to get involved in our launch – with moderating, coding and at various other levels! I will be writing back to those inquiries soon – as soon as we’re done initial set-up of services, which should be within two weeks.
Cheers!
Curtis
Part 1 : My Personal Stock Trading Story. How I Blew up Two Accounts and then Learned How to Trade.
Part 2: Trading Checklist (Rules) I Follow Before Triggering a Stock Trade.
Part 3: Now I’m Inspired. A Struggling Trader That Inspired Change.
Part 4: We Want (Need) You! Apply to Nearest Recruiting Station.
Part 5: Learn How to Trade Stocks (Build a Small Account) Following my Journey.
Part 6 a: Trading Set-ups. How-To Develop a Systematic – Predictable Process.
Article Topics; Trading Challenge, Compound Trading, Freedom, Trading, Trader, Learn, How to, Trade, Stocks, Build Small Account.