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Small Account

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Scott asked 6 years ago
Hey Pat, Just became a member of Mission Winners.  Been following your Free videos for a bit.  Really excited to be part of the team! My question is about Account and Position sizing.  Most of the stocks you cover are $100+.  I'm still new to trading and my account is size is under $10,000.   How should I approach my position sizing without risking too much on a single trade when it comes to Max List stocks?
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Pat Walker Staff answered 6 years ago

First off, Welcome!
Glad you're part of the team!  Here are a couple of thoughts. On the higher-priced stocks, just buy 2 shares. I'm serious. Then, if it runs, sell 1. Let the other work for you. Know it sounds crazy, but it works.
Also, Key on the stocks under $100. We own SEDG at 28. We own ACLS just over 25. We own SQ at 29. We own TER at 37. Take your account. Divide by. Put 2,500 in each. That's how I started. Or you could do 2K in each. When it goes up some, take 1/2 off. Let the balance work. And, Message me!  It's why I'm here. Ask questions! "Pat, when should I sell some?" I will answer you pronto. NEVER be afraid to ask.  One last point, I encourage you, please don't put all your money in 1 stock. It's great when it works. But it really messes with you when it doesn't. Keep losses small. I really focus on SIMPLE bases where it's EASY TO SEE THE ENTRY SPOT. Why? Cuz if that stock falls I know where to sell some fast! 
I know I typed a lot. But I hope it helps. Please, keep asking questions. I NEVER want to hurt someone. Yes, we will have losses. But we keep them small. We must. As I've stated, I take this seriously. I want to speed up that learning curve. Make more $$$ faster. 
Have a great weekend. And I thank you for letting me work for you!

Sincerely,
Pat