My plan was simple enough. I would day trade only a few stocks of a company at a time. I would keep my per-trade Risk to 5% of my overall account balance ($1 out of $20). This meant that if I purchased 5 stocks of ABC Company at $2.00, my stop would be placed no lower than $1.80.  If I purchased 10 shares at the same price, I’d have to move my stop to $1.90.

I knew I wouldn’t make very much Money, but neither would I risk much – and I would have some skin (if not a lot) in the game. My objective at this point was not to make a lot of money anyway, but rather practice day trading and become consistent at making a profit – or rather keeping my wins larger than my losses.

Every paycheck, I would deposit some small amount of money ranging from $10 to $20. As my experience and account size grew my position sizes would become proportionally larger.