Account Update 4 - $1,492.57 +6%

Daily Comments

Really interesting day today, felt really good about the stream, I think its showing some of the things I’ve talked about previously in far better detail. I was incredible proud to see so many people be green on ASTR. That was a play that a lot of people previously would’ve lost a lot of money on.

Play Breakdowns


This play went exactly how I’d expected. I called out a trim just before the launch window and I sold off some contracts for a profit. When the rocket lifted off we got the further anticipated run of buy volume which we sold into and we were completely out by the time anyone had realized that the launch wasn’t successful. This play was important to me because it accurately showcases why mentally resisting the urge to gamble is so important. I’m sitting there with a 12% gain on account free and clear and had to deal with none of the extra stress of waiting to see how things panned out. This is how you generate wealth, it won’t happen tonight or tomorrow, but over time, these gains will compound and we’ll be much wealthier than we were today.


I’m going to be honest and say that this play was a bit of a mistake. I had voiced concerns with entries before the CPI data and those concerns were valid and I should’ve listened to them. The mistake I made was getting into a play that I wasn’t totally confident in with little research and not obeying my own intuition. Taking plays that are right for you is paramount. I’ve said many times that I have never traded a share or option on DWAC. Still haven’t to this day because the plays never seem right for me and that’s OK. With that said, I’m still holding this position despite having been able to exit slightly green. I’m currently betting that the overall thesis may still be accurate and that bearish momentum on SPY may drive this one down a little more. I’ve very likely to cut this tomorrow morning at open in the volatility.


Our beloved was a casualty of SPY today. It had a great run but then ran out of steam and came back to earth. I had called earlier in the day that options had been hovering around that .40 level and it would be a good cost basis, despite having taken a couple options earlier in the day, I took my ASTR gains and averaged down my position to a cost basis of .42 cents, just shy of that golden level (hopefully). This highlights why its important to average into positions. That means buy your position in little spurts not make one large buy and freak out and get over-leveraged.


Made an intraday scalp after UBER’s earnings miss intraday. Those that watched the stream saw me use the price ladder to collect at a cost basis that was decently near the low and then analyze support lines and SPY movement to determine a good exit. This scalp was held for roughly an hour and a half and was 32% gain on position.

Closing Thoughts

I think this challenge will be one of the greatest things we’ve undertaken in this community. We’re not fully up and running yet and I have several more ideas that we’re going to try as I get more used to trading on stream and providing updates on my thoughts but I can already see the positive effect its having. The challenge has shown this week that by taking careful entries on fleshed out plays, you can substantially increase your wealth over time. I’m not making hundreds of trades per day, I’m not even holding many positions, but my account is growing substantially day after day.

Today I made $80.40 and I didn’t really do anything besides watch a rocket launch and make a handful of buys and one scalp. You can look at that and think, yeah, ok so what? Well that $80.40 was with a purposefully limited amount of capital. It was 6% which means, lets say I had an account with even $5,000 in it, that’s $300. If we zoom out and look at the week we’re up 49%. So instead of $492 this week, we would’ve made $2,500. Friends, there is no rush. All that matters is consistent profitability. I know there are some of you that have watched the stream and thought “this is boring”, yeah, it very often is. But what matters more? Entertainment or wealth? Its up to you.

See you tomorrow.


Today we were up +6% on account for the week we’ve hit +49% on account.

If you’ve read the post, please give it a like so I can keep track of how many people are actually following this.


Conq could you give a little explanation on “using the price ladder”? I don’t know what that means? Are you looking at order flow to see where the bid/ask is to get a sense of where the price is coalescing?


Went over this in the stream today. This is what I’m referring to which is a feature of TD Ameritrade’s trading software TOS:

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Thank you Conq!

I often struggle with this and has cost me money but I’m getting closer each day to being more discipline


This hits home so much. Analyzing my own trading, as soon as I stray away from this and make a non calculated trade, I lose money. Every. single. time. Im learning an insane amount from this, thank you thank you thank you. :pray:


Really appreciate all the knowledge/education found in these!


For this challenge you don’t use the entire capital but just a fraction of it. While the cash fraction settles in, it allows you to trade the remaining cash for the next days’ trade correct?


Thank you for the daily updates. Really interesting to watch along with whenever I can between my day job.


keeping cash available allows you to average down (or up) as needed, allows you to play advantageous setups that happen intraday or overnight, and most importantly, means you don’t get blown out if something moves against you.

for example, I entered a few March BBIG puts, knowing I might be early. I started with a small position, averaged down when the price ran further, and ultimately exited the trade for +10%. Not huge profit, and there’s a chance the price drops further before my expiration, but 1 in the hand is better than 2 in the bush.

ETA: Wanted to thank you Conq for putting the work in to transcribe stuff during the day and posting updates as you go. I’d love to watch the stream but I have class during the day, but checking in when I get a discord notification and reading the daily recap is incredibly educational.


Can already tell this challenge will no doubt create better traders within the community. Discipline is key and Conq’s insights here are great.

I used the pricing ladder in ToS active trader today and boy, have I lost a lot of money not utilizing this earlier.

Thanks for taking the time to inprove the stream quality as well as review the workings of the pricing ladder.


Awesome stuff conq! I really appreciate you streaming and explaining your trades. It really does help a lot. Can you explain your thought process and indicators you look for to verify good entry and exit points?
There are so many indicators out there and different trading styles for different people, but what I’ve been using is rsi, macD, vwap and relative volume. Along with a 9 day moving average exponential and a 180 day simple moving average.


Really enjoying this and appreciate the time you’re putting into summarizing. As someone who can’t be in VC most days I also appreciated the channel alerts in Discord. Was very easy to follow along real time and see how things evolved.


Thanks for this conq. It really helps having you as an example and understanding the mindset of a successful trader. It’s especially helpful to see that small gains over time win more then big gains all at once.

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Conq - this is great stuff, I wasn’t able to follow along much during trading hours this week as it’s been challenging at times just to get my trades in so doing my catch-up at night and these posts help out a lot. You’ve also inspired me to follow along and try it out on my own, some early successes and failures but learning a lot from slowing down. I think this is an incredible direction to take with the community and hopefully help create some incredible wealth in the process!


Amazing work!

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I’ve mainly been following along via the forum so far but would love to tune into the stream. Only problem is I can’t figure out where that’s at, lol. Did you decide to do it on YouTube or is it discord based?


Becuase this is a private topic


Thank you for the youtube, that’s exactly what I was looking for.

Would you know why I can’t see it on the youtube channel - but only through that link? Is there a way I can get past that?

That’s the intent :slight_smile:
Conq has it unlisted, which means the only way to get there is to have the link.

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