I decided to start this follow along after having a good amount of our discord members both free and premium asking if it is possible to trade with a sub $1,000 account. I typically tell them that it’s possible to trade with any size account, however for brand new traders the best investment is in themselves, meaning spending what you are able to on Trading Education. When I say “spending what you are able to” I mean either money on courses/coaches, or time on free education and resources.
Once you feel confident enough to brave the markets, paper trading is a great way to get exposure to how trading works without risking your own money. Think of it like batting practice. When you learn to ride a bike for the first time, there’s a good chance you will fall a few times before you get the hang of it. The same goes for trading, which is why a lot of new traders start off paper trading so that those “falls” don’t happen while their hard earned money is on the line.
It might be daunting seeing other traders posting about their $100,000 accounts and thousand dollar profits per trade, but even they started somewhere. If you’re trading with a smaller account, for example $500, the trades you make are just as important as those traders with $100,000. Because you’re at a stage where you are (hopefully) building good trading habits and mindsets that will not only help you down the road when you do have a $100,000 account, but also help you get there.
All of these trades are found and played using Jay's Technical Analysis Strategy taught by Jay himself in our Coaching Program!!!
Jay's strategy that we are using for entries with this Technical Analysis based trading style is waiting for the price to break below a certain price level, and then waiting for the price to have either a 1H or 4H candle close back above that level for entry. The reason for this is to wait for confirmation, and stop losses to get cleared out before entry. We have an 8 Week Charting Master-Course in our Premium Discord where we teach members how to find plays using this strategy. We also have a Technical Analysis Coaching Program that goes over how to play them to perfection (including an advanced stop-loss strategy).
- If you are up 5%-10%+ (depending on your risk:reward) we believe it is never a bad idea to secure profits by setting a stop loss or trailing stop loss if it fits your plan, regardless of target.
- These trades are strictly based off of the charts. If you are up on a play, and there is a news catalyst coming (Fed Meeting, CPI data, earnings) and you’re unsure of the expected move due to it, it’s never a bad idea to take profits and let the catalyst shake out before re-assessing.
- The "4H/1H Entry" criteria strategy we use only counts during regular trading hours, not pre market or after hours candles.
- We LOVE to use StocksBuddy to help us determine potential areas to take profit before our targets are hit.
- Always do your own research before making any investment. This is only meant for educational and entertainment purposes only, not financial advice.
$NIO
This one traded in the $60 range back in 2021, but now is $4.80 (as of this writing). I am waiting for the price to break below $4.40 followed by a 1H candle close back above $4.40 for entry. I am not aiming for too much on this one, so have targets at $6.34 and $7.24, with a stop loss at $3.60. I'll be using/allocating $25 for this trade.
$TRIP
This is a clean setup here. I'm honestly not sure if this one will hit our entry level of interest, or if it will do it soon, but if it does I really like this trade setup. I am waiting for the price to break below $13.73 followed by a 4H candle close back above $13.73 for entry. Targets at $19.37 and $20.59, with a stop loss at $12. Using $30 for this trade.
$SYM
This is an AI stock, looked upon as a cheap alternative to $NVDA for some investors. I am waiting for the price to break below $37.22 followed by a 4H candle close back above $37.22 for entry. Targets at $47.42 and $57.16, with a stop loss at $34.17. If we keep dipping below $37.22 and don’t get back above it, I’m watching for the same 4H candle setup at $29.62 (price breaks below and then 4H candle close back above), Targets at $37.22 and $47.42, with a stop loss at $26.80. Using $50 for this trade.
$UBER
This one had a nice move above all time highs, but now it fell back down to that level. We traded UBER in the past using the same Technical Analysis Strategy. I am waiting for the price to break below $57.22 followed by a 4H candle close back above $57.22 for entry. Targets at $63.84 and $70.43 with a stop loss at $55.11. If we keep dipping below $57.22 and don’t get back above it, I’m watching for the same 4H candle setup at $48.85, Targets at $57.22 and $63.84 with a stop loss at $45.79. Using $70 for this trade.
$HOOD
$24.74 is our target, it's all about how we get there. For this one, we see a Cup and Handle forming here. I am waiting for the price to break Close above $20.90 with a 4H Candle, and then I will be setting a limit order (not during pre-market/after hours) for $20.90. Target is at $23.74 with a stop loss at $19.59. Using $80 for this trade.
This is day 1 of the $500 account follow along, today was all about getting the charts and setups ready. This challenge is NOT about forcing trades, we let the trades come to us. Make sure to check out our discord where I will be posting all the updates on these trades!!
For those who followed the $250 Account Challenge Days 1-3 and Days 4-7 on this blog, I decided to instead turn that into a crypto challenge, and use this $500 account follow along to strictly trade stocks using Jay's Technical Analysis Strategy!!
The information provided is for educational purposes only and should not be considered investment
