How to turn $1000 into $25,000 in 20 mins

Michael Esther
01-23

Here's 20 steps to know in 20 minutes to grow your small account to $1,000,000+ Remember, trading is 90% psychology and how you perform under pressure. Its based on how you behave, deal with uncertainty and be able to deal with discomfort.

Right now,@PhilipSoungCho is turned $5K into $25K in less then 3 weeks of trading. Everyday, he was green and its was LIVE in front of thousands of traders.

#1. Open IBKR or Webull CASH account. You could also open a margin account if you want to. Open 2 accounts. 1 for swing trader and 1 for scalping. So you don't mix the 2 types of strategy.

#2. Write down 10-15 rules for you to follow and never break. This is the start of your trading system. The only way to grow your account without gambling, consistently and in control is by following the rules you create for yourself.

Here's a few examples of mine:

  • Only trade 0-2x a day (no more then 2). Sometimes you take 0 trades and this is fine.

  • Sell at least $0.60+ $1.20 from entry

  • Stop loss is always at $0.30. Never take a loss more than $0.30.

  • Only trade the SETS-UP you know and plan before market opens at 9:30am EST.

  • If you take 2 red trades, STOP and call it a day.

#3. Print and save this cheatsheet here as a checklist to follow.

#4. Review every trade you take and ask these questions. Did you ENTER the trade too early? Why did you enter the trade too early? Did you sell too early and what caused you to sell to early. Fix these mistakes the next day.

#5. Pick a TRADING SET-UP to master. Here's 8 of them. Just pick 1 or 2. You actually only need to master 1 to be a millionaire trader. Its never the strategy that isn't working. Its you! You are not executing the trading set-ups properly.

#6. NEVER BREAK THIS RULE. You'll find 99% of your time trying to do this exact thing.

  • ALWAYS SELL at your target price.

  • ALWAYS STOP OUT at your stop loss no matter what.If you can do this then you've mastered trading.

#7. Spend time getting better at technical analysis each day. Here's 1 minute lesson I teach for you to learn from:

#8. At 9am each day, Always draw the key levels where you will take trades from. NEVER trade in random places. Always take trades at these key levels.

#9. Start off with 1 contract size only. And when you are scalping always buy weekly options that expire THAT week. So for this week, it will be Jan 23. The strike should always be $3-$10 out of the money. So if TSLA is at $430 get $433-$440 OR get contracts that are $2-$4 only. Always risk only 0.50 no more then this.

#10. Practice this for as along as you can until you are consistent. Yes, this is boring, its annoying, but the reason why you are not growing and making money isnt because you've skipped this important step. And you are too focused on making quick money and proving to people you are the best when you can't even follow the basics.

#11. Remember, trade only things you are NATURALLY comfortable trading. If you aren't quick, do not use the 1min chart. If you get stopped out all the time get off the 1 min chart. Use the 5 min chart. Its slower and there are less trades but they are higher probablility once there is confirmation for your entry.

#12. CONFIRMATION is one of the most important concepts in trading. Look at this picture, you aren't trying to catch the move at 1 when it starts to crash. Most NEW TRADERS want to get in early because the entry is better. The real ENTRY is 2 because this is where you get confirmation that sellers are in.

Then you take a HIGHER probability set-up with more confidence. You should feel really focused and time slows down so you can take your entry. Once you take your entry the only thing to do now is SELL AT STOP LOSS or at PRICE TARGET. NEVER sell earlier.

#13. It will take you 90 days at least to rewire your brain such that you are only EXECUTING the trade not trying to predict the stock market. This means, most of the time you are selling early becuase you think the move is done. NO, the MOVE IS DONE when you hit your price target. DM me to help you with this. I have a MASTERCLASS series for you to learn from.

#15. MEMORIZE this picture. There are 5 candles here. Take the entry on the 5th candle always after it starts to move above the PREVIOUS candle high. In fact, the best entry is to wait for this 5th candle to close then take an entry. This is the HIGHEST probability trade you can take.

You are watching for 1st candle buyers to come in then on the RED candles, sellers to push down and FAIL. As soon as you see sellers FAIL and buyers are coming back, you can take the entry.

#16. If you work full-time, you don't need to trad everyday. You only need to SWING trade which is better and safer. You don't have to manage the trade as often. Buy at least 3 weeks out or even 1 year LEAPS. For example, if SPY dropps under $680 you can get June 2026 expiry for $700 calls. This won't happen everyday so you'd have to just wait. This is why trading is all about patience.

#17. Remember, if this isn't working its NOT THE STRATEGY. You aren't taking the time to fix your mistakes. Lets say you keep making the same mistake over and over again like you overtrade. The rule is 2 trades a day max. You notice you take 10 trades a day. Well is this a strategy problem or you not being able to control yourself?

#18. Over the years, we've helping thousands of traders grow thier small accounts to life changing amounts like the secret to consistent trading is not to rush the process. Trading is hard because you are spending most of your time rewiring your brain to not chase money and not seek relief once in the trade.

For example, people sell early becuase they are scared, dont like the uncertainty, are uncomfortable with the candle moving up and down. So the only way to get better here is IGNORE the discomfort and force youself to sell at your target.

#19. Watch all the MARK DOUGLES VIDEO Parts 1-4. It will transform how you think about trading.

#20. If you get this far! Comment "Banana" so I know you are taking this seriously. DM us for a price since you got this far. The last thing to learn is where to sell!!! My best advice is SELL after you see a key level of SUPPORT is broken or when you see 2 red candles form on the 5min. Its a good spot.

Usually the 1st red candle close is only a reaction we don't get confirmation until buyers are exhausted and has failed. Selling is by far the hardest part to trading.

Lastly, if you risk $50 on each day try to make at least $100 on that trade. Do not try to make $500 or $1000 on every trade on a small account. These trades are rare and do not happen every day. They key is to focus on boring, repeating and simple trades to grow your account.

Always, DISCIPLINE over dopamine. Discipline is freedom. Discipline in all aspects of your life. If you want something bad enough, no one can stop you but yourself no matter how long it takes.

For SG users only, Welcome to open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with unlimited trading on SG, HK, and US stocks, as well as ETFs.

🎉Cash Boost Account Now Supports 35,000+ Stocks & ETFs – Greater Flexibility Now

Find out more here.

Complete your first Cash Boost Account trade with a trade amount of ≥ SGD1000* to get SGD 688 stock vouchers*! The trade can be executed using any payment type available under the Cash Boost Account: Cash, CPF, SRS, or CDP.

Click to access the activity

Other helpful links:

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment