What's up? I won. All right? Well, I Don't know what to say. $25,000 It's a big green day. Two big green days in a row.

12,000 yesterday 25,000 today M Why o from a low yesterday of about I don't know. Five, six dollars, maybe up to a high today. $40 a share. That type of momentum.

We don't see it every day. it's you know, every every couple weeks we'll see a stock do something like that. Sometimes it's more frequent and sometimes they do get clustered together. Probably with the big momentum on Tesla that may have triggered a little FOMO And right now to me, it's all about capitalizing on that FOMO and riding these big exaggerated waves of momentum both up and down.

If you can, shares to borrow or difficult for a lot of these stocks, but at least ride in that momentum up. And today I did it really well. Sixteen thousand dollars of profit on my oh, and the thing is, we'll talk about this during the recap. I Kind of screwed up my first entry I should have been able to make at least twenty thousand dollars on this stock today and a sixteen thousand is great, but it could have been better and so I always sort of.

you know. Tell myself Ok, good job today, but you can do better and what could you have done better? Because that's how you keep growing as a trader, you know? Yes, of course I could say hey, I'm gonna throw in my towel here I'm really happy with, you know, my profits and everything else. But on the other hand I think it's a good idea to keep kind of setting the bar a little higher and a little higher. So I Hope you guys enjoy this recap and guess what tomorrow at 1 p.m.

Eastern I'm gonna host a live workshop. There's gonna be a link right down here in the description where you guys can click on it and you can register and during the workshop. What I'm gonna do is I'm gonna talk a little bit about these trades on my o I'm also going to talk about my December small Account Challenge where I took 500 bucks and turned it into over fifty thousand dollars in 17 days. Seven teen days Crazy! Alright, so we'll talk about that and it's basically gonna break down for you my strategy of how I find these stocks each morning before or they make the big move.

All right. So make sure you guys register for that workshop tomorrow. I Hope you enjoy the recap. As always questions, comments, leave them below and hit that subscribe button if you haven't already.

All right you guys! So we're gonna go over the trades from today. I'm gonna finish the morning here up twenty five thousand, three hundred twenty-five dollars and three cents which is terrific. This is a nice green day and after making twelve thousand yesterday, it puts me up thirty-seven thousand dollars on well actually no thirty eight thousand on the week I Had a thousand dollar day on. Monday So thirty eight thousand on the week? That's not bad.

Mike Realistically, I've been sort of thinking a lot about what my goals are in terms of weekly goals and monthly goals and stuff like that and even annual goals. and I'll talk about that a little bit when I do my 2019 Year in Review But right now I think one of the challenges for me is that when I set really high expectations like you know, fifty thousand dollars a month or something like that that if I'm up only 25,000 or 30,000 or 40,000 I feel disappointed because I haven't reached the goal that I set for myself. Well, on the one hand, it's great to set goals for yourself. On the other hand, you don't want to set goals that are so high that you become, you know, in sort of a constant state of pushing yourself and not being satisfied when in fact, you're doing quite well.

So to be up $38,000 on the month, three days in I've hit my monthly goal. Let's be realistic, that's great. that's and that's a thirty thousand dollar month is terrific. So now I'm at a point where it's kind of a question of do I ease off the throttle a little bit, pull back, and just kind of coast through the rest of the month.

You know I mean we're we still have I were three days into the month so I mean we still have a full really a full month ahead? or do I you know, push the pedal to the metal and lean in a little bit to this hot streak that we're clearly seeing today. I told myself I didn't even think my yo-yo was gonna be a continuation set up I'm up 16,000 on it and I thought there was nothing left to trade on this one because when I looked at where it closed I kind of watched it through the afternoon a little bit and I saw it closed around. you know, $13 So I was like oh, that's disappointing. It really gave back most of its gains on the daily chart.

It looks like a shooting star candle so probably not gonna you know, be able to trade that well as it turns out, you know of course yesterday just to give you a quick recap of my trades for those that missed yesterday and I'll pull some of these lines off just to clean up the chart a little bit. All right, there we go and there we go. Alright so yesterday my ax was on watch as a as a gap and go set up and the reason it was on watch was because of course it was gapping up, had news and was a recent reverse flip right out of the gate. Two squeezes from seven to ten I jumped in as it squeezed up was holding into the hall.

it resumes and surges up, to a high of 14 80. It then pulls back I bought this pullback and it surges up to 1765. It then pulls back again. it breaks out over 1765 up to 1960.

Nice clean bull flag right here then rips all the way up to 32, pull back and then a breakout moving higher but on lighter volume which I called out as a divergence there to be mindful of and it ended up reversing off that level so hit a high of $35 which was incredible I mean I made 12 grand on it which was good but at the same time if I'd held a thousand shares from $10 I mean I would have made an extra 20 grand on it, but you just never know what stock is gonna do something like this. So anyways, it drops down and then pre-market it's already coming back up. Well, it came back up a little bit after hours and then pre-market it's surging again. So this was actually at the top of our Gap scanner this morning.

It was gapping up a hundred and thirty percent which is awesome. all right. So it's gapping up a hundred and thirty percent now right out of the gates I'm watching it to jump in and I kind of screwed up my order a little bit so as soon as the bell was ringing I was looking at it and I was like this is a flag I Want to get in for the break over 3154. Alright so let me pull up my trade on this one real quick.

So as you guys may recall, um I had an unprecedented red streak in my retirement account from December going into January it was terrible and I just I was really frustrated over it and so I decided you know what? I'm gonna I'm gonna disable my main account which is the this Ross CA account disable it completely. So if I try to trade in this account right now, for instance, whatever I'll just I'll just use it. shouldn't the order should go through. but I'll press shift 1 cannot place any any long order.

Alright so I press shift 1. pretty sure you know it doesn't matter how much I press it I can't take any trades in this accounts. it's locked alright. But the thing is when I log in each morning I log in by default to the Ross Sea a account that's my main account.

so then I have to switch over to I have to tab this over to the retirement account which is fine. The only problem is this morning I forgot to do that and this is the second time that I've forgotten to do that Sometimes right? you know we're ten seconds from the Bell I'm still on Ross CA I've got my O up I've you know I'm watching it 3154 and it just sometimes is a case that I just absent mindedly forget to tab over. Alright, so I type in the order for a thousand shares I'm gonna bump the order up to 31 dollars. All right.

here's the Bell watching and there: I saw a green and I start pressing the buy button. Do I fail? Of course not. My orders get rejected as soon as I saw that green I start pressing the buy button I'm not the only one that saw that there's 3180. there's 30.

there's 33. Holy smokes I ended up getting in at 33 50 as it was squeezing up here. So here I'm like son of a gun. You got to be kidding me.

So I was like that's all right, calm, cool. So I was like okay, well I wanna I do want to trade this for the break over $35 which was yesterday's high. That's still the spot that I'm watching from 35 we've got room on the daily up to $39.90 This is a resistance level. This is what we break down in chapter 4 of the day trade course.

so 39 90 and then $45 above that. Alright, so I end up jumping in here. Well I guess I wait for a little pullback or something. What about gosh, where do I even get in? So now I'm feeling I guess a lot of frustration because I'm thinking about that guys with 3,000 shares I mean on the bid at 33 I'd be up almost 9 grand I missed the whole trade.

So this is the way it goes sometimes. So then I let it dip down here and on this dip, this is where I jumped in. So right now it's doing a little a little micro pullback. I'm letting it pullback for a second.

it dips down there. So I'm watching on the ten-second chart as it's dipping. it's got a hold below. it could certainly can't go red, but it's holding that level.

So I check I put my mouse over to see what that that price is and as I see volume coming back in here green I'm looking for the first candle to make a new high. hands on the buy button. ready to go I'm a little nervous cuz I'm also like I kind of screwed this up but let's just make sure we trade smart here. This is now showing well-defined resistance at 50 so boom I punched the order I punched it again there and now I'm in right here looking for this to break through the high.

Now we're gonna get this squeeze up to 35 37. look at that. look how fast that is. So I take profit as it's squeezing up I throw orders on the ask now we're at 37 30 I'm trying to sell but I'm also you know I'm in this moment I was kind of like I'm gonna just try to salvage trade and make as much as I can.

given the fact that I really screwed it up from earlier. So now I'm just gonna watch for a second and we end up on this stock getting a high of close to $40 I know I add back in some place. look at that. Oh my God.

39:54 open P&L right now is nine thousand, Two hundred and Ninety six dollars. So my chart is now not really perfectly adjusted. All right. So now we've got 40 right here.

Took a little profit so now I'm still holding a thousand shares from my average is 35 26 now. Meanwhile, PBY is surging up. This is one that we also kind of had on watch SNES I had on watch but the volume was really light. Now we're up to hundred percent eight hundred sixty thousand shares of volume.

This at this moment my my heart was pounding because this was like sort of a really intense trade I botched it from the beginning I screwed it up. then I'm you know I'm back in. well I'm then I'm in for real but I'm in higher than I initially wanted. The risk is high.

This is a three thousand share position on a thirty five dollar stock. I've got a hundred thousand dollars in this trade, you know? So I'm feeling that pressure and I'm like I'm I'm You know it's one of those times where I'm kind of tunnel vision and this is where I need my muscle memory in order just to press the hotkeys, press the buttons the right way because it's so easy to be a deer in the headlights and to try to do all of this while at the same time articulating out loud to you guys what I'm doing. These are the moments where it can be difficult and I do the best I can but it's It's not easy and the reality is day trading is not easy. This is something that takes a really long time to get good at.

It's a lot of hard work, a lot of dedication, a lot of discipline, and a lot of Drive at the end of the road. For those that get through that learning curve, the rewards can be pretty incredible. You know, twelve thousand five hundred dollars right here is obviously amazing. This is a really solid breakout pattern I should have made more on it than I did, but you know I'll take what I got.

so so let's see. So then I take a trade up here looking for the break over 40? I don't end up getting failed and I end up stopping out right here with ten thousand dollars a profit. All right. So now it drops down.

so see. This is where we have this drop. All right. So the stock.

All of a sudden it's just from almost $40 to 29. I Looked at that and I was like that's a ridiculous drop. This thing is gonna bounce back up. That's too much of a drop and so right here.

I Saw it and I So first my order was rejected. It was rejected because 38 dollars and 73 cents is way too high. It's more than 10% above the current price. so I had to get into that using my hockey I Got in using my hockey 2906 and I was looking for it to bounce back up through the V whap.

We did get the bounce back up for a moment. it was a little moment of truth whether or not it's gonna work I Was a little nervous on it, but it ended up working. We got a rip up I take a little profit off the table as it's squeezing up I took off profit a little too soon. but look at that spread right there.

That's a $2.00 50-cent spread. So you know, selling a little into the ask and you know, locking up some gains on it. So I ended up having another trade on it, but that was the that was the sort of first was this three five minutes of the day. so some pretty wild price action on my O as you can see right here.

Unfortunately, it did not come back up to the high of $40 so my ads that were up there near the highs ended up being. well, they they were too high. but nice bounce off the low here. So we got that and for what it's worth, you know that was in part inspired by this drop that we had yesterday on Tesla and again this morning.

So the just this drop bounce drop. Big volatility, big whips. So when you when the market starts to get really kind of irrational often when you get those strong dot drops, you get a bounce off off the low. So anyways Tesla traded yesterday at In trade today I did have the options chained up on it I was looking at doing a trade there but I didn't end up taking it.

So anyways, that was Tesla So my o $16,000 I I kept watching it for a while wondering if maybe it would break through the V whap through here. I had a trade right in this area here. First five-minute candle to make a new high I didn't end up making much on that and then it broke down here I was still watching it until it broke down right here and at this point you know it's I'm interested but it's it's got to get back up. obviously above the volume weighted average price, so that may be it for that stock.

Ok so then at that point I was willing to watch pretty much anything that hit the hide a momentum scanner that looked similar because what I expected from this move yesterday from a low of 7 to a high stay of 40 was possible sympathy. momentum on similar stocks, similar setups. So what was this stock set up? It was a recent reverse flit with news and lots of room to the 200 moving average. It was a bottom bound set up a stock they'd been beaten up for a while.

Po Po A I was actually on our scanner a couple days ago I think it was on this day right here. or maybe this day it's a reverse split from like a couple months ago and it first pops up and hits the scanner. Let's see it was what time was this? oh that's that's yesterday I guess Go away forward. let's see.

Sorry about that. Um I still have yesterday's scans up. Okay so my Oh yep yep yep I'm see I my oh so it's gonna hit the scan I think in the - some things too 90s maybe to 97 to 97. Three dollars.

Alright so hits the scanner, it starts popping up and the stock rips from three all the way to four dollars and then gets halted on a circuit breaker. Alright so I jumped in as it was squeezing up as I saw it hit him a scanner I pull it up I Saw mmm oops I saw we've got a headline right here. so with that headline I was like okay we've got news. It's a recent reverse split with new.

it's moving up fast I'm gonna jump on at the relative volume very high even when it first hit at 97 to 97. so I jumped in it, it's squeezing up 304 323, 28, 340, 350, 356, 370, 380, 390 Halting at $4 it resumes and hits a high of 530 I made nine thousand, nine hundred, sixty bucks on that stock. Really, really nice. However, I will say that this was a little surprising then.

I'll go into a tighter timeframe here. right here it flashed down I actually added right here for the break over five. Yeah, break over five hits high of 516 515 I actually added at 525 and in the next candle I added two thousand shares it drops down to 420 and I was like okay, I'm not gonna panic and hit the bid I I was considering buying but I was like now, let's just let's just leave it for a second. it bounces in that next candle back up to 480 and so I ended up getting out with like a $500 loss or whatever.

It then consolidates sideways. it comes back up to five I tried to get back in I stopped out a second time and then I had my final trade on it. Where was my last trade? My last trade was right here as it was breaking what I thought was this resistance at 479 looking for the move back up to five, but it was kind of a heavy. seem sort of heavy once it got up into this five dollar area.

So a lot of sellers my Oh coming back up to the view app I see that again the the only place I would really be a buyer. Probably it's tough because the as it turns out, the first five-minute candle ended up being a red shooting star which is not a very strong five-minute candle. so I would need to see it back over the video I need to probably see it back closer to 30 to 35 and you know if it got back up to 35 then I'd be like okay, this looks like a shot has a shot at high a day but I don't know so you know. despite a little bit of a fumble at the open, I'm still walking away in pretty good shape.

I've got to be better about remembering to switch into my IRA account. You know the nice thing with trading in the IRA of course is that these gains are they're tax-free It it's a retirement account so there's no income tax on it I Set up this account with 6000 dollars in 2018 from my $583 to $1,000,000 a small account challenge I Took out 6000 from that and put it into a retirement account as a 20-18 contribution and so I started with I think fifty five hundred and then added for the next year contribution. So I made three contributions totaling I believe about eighteen thousand dollars and from there I've been growing this account and the growth is no income tax on it so so that's nice and that's one of the advantages of focusing on that account. The other problem that I was having with trying to trade into accounts was just getting sloppy and miss managing risk and making mistakes.

So and then the last couple trades on YT en that one hit the scanners I jumped into it with I tried to take 2,000 shares, I got a partial fill made 24 bucks. basically was a break-even trade and then Wafu is the only one. I'm read on and I actually jumped in it. It was doing this little pullback right here and I bought it right like here as I thought it was forming this one-minute set up to break over 21 and I stopped out down here for $831 loss only to see it come back up here.

you know, 10 min 15 minutes later. but that's fine. it's I cut that loss pretty quickly so I'm not too worried about that. So in fact, the biggest loss of the day on them.

What was on my o and that was from when I was up about 12,000 and then gave back 2,000 as it dropped. but I kept trading at that point because I still thought that there was some good opportunity. it was still really early in the day and then I ended up. you know, having this final loss on Wafu and feeling like it was not worth continuing to trade.

So at this point, I'm gonna throw in the towel. 25,000 today, 12,000 on Tuesday So that's 37 thousand on the week plus a thousand on Mondays Thirty-eight thousand dollars on the week. The IRA contribution limits. There's a couple different limits.

There's a limit. Well, I think it's six thousand for this year? Could you could look it up and google it? But the I'll just do it here. IRA Contribution Limit 2019 I Believe you can still do a 2019 contribution up until April 15. So it's six thousand dollars if you're under the age of 50 and then you can do I think a little bit more if you're between 50 and 59.

Now, the disadvantage obviously is that I can't take out any of the profit here without incurring a 10% penalty and having to pay income tax on it. So paying income tax plus a 10% penalty you know that's that's not great. Although if I really want to take the money out I Could you know you just have to accept that? that's that's a penalty. So you know if you need to take out 50 thousand, it's like, all right.

Well, I'm gonna pay, You know, X percent income tax plus another five thousand on the 10% penalty. You know if you need it, you can do it. It's just that's that's the deal. So right now I'm focusing on growing this account, building it back up after the kind of long red streak that I had from December going into January and I'm feeling good to have a couple of really nice big green days.

It's actually gonna put the account close to its all-time highs I'll have. just log in and see exactly where it is after today. But in any case, it's in good shape. Now the traditional IRA is tax free growth.

but then when you take the money out, you pay income tax on the withdrawal. even when you're in your 60s. a Roth IRA you put the money in post tax and then when you take it out when you're 59 60 years old, it's also tax-free when it comes out. However, there's income limits to contributing directly to a Roth IRA.

So I make too much money to contribute directly to a Roth IRA. So what a lot of people in my situation will do is they'll make a traditional IRA contribution and then you do a Roth IRA conversion. You convert it to a Roth IRA. You pay your income tax on it and then it becomes a Roth So it's kind of a I have a video specifically on that.

But anyway, so that's about it for today. Solid Green Day I I Was kind of getting to a point where I was like hmm, you know I'm only $15,000 away from having a record a record. A $40,000 is my biggest green day ever and my only maybe disappointment is that I didn't trade SN es this one I had on my level two. You saw it right at the open I had it up I knew it was a reverse split I knew that you know it was interesting.

However, there was no news until 938. Not that this is maybe the best news headline I've ever seen, but the news came out at 9:38 so there wasn't a headline before the bell. So at 9:38 you know there's this headline. whatever.

And all of a sudden there pops up to 717, it gets halted. It then resumes, squeezes up to 771 up to 8:20 and is halted a second time. It resumes, it squeezes up to 9, 57 is hauled to a third time, Resumes squeezes up to 1053, all to the fourth time. Resumes squeezes up to a high of 11:15 for a fifth halt in a row.

All of that on only about a hundred thousand shares of volume. So I missed the first one partially. Probably just didn't have a lot of volume. so I wasn't looking at it super seriously.

I was waiting for more volume to come in and then all of a sudden it just takes off. Felt like I couldn't jump in, didn't watch a sit on the drop here. I did consider doing a buy off the low, but I didn't because I felt like it dropped a little too much. So so I missed that one if I had jumped on it.

maybe this would have been a record. Green Day Of course if my o had broken over 40 and ripped to 50, that would have done it for sure. And if my order had gotten filled right at the open at 30 dollars and 25 cents, that would have added an extra six or seven grand probably. But it's fine.

this is a Green Day I'm happy with it and my o again the spot that I would be interested. I mean if it does halt going up then I would start to get like okay, this is is opening up This is something I should be seriously looking at. We haven't had any halts since 10:15 It's now almost noontime, so I'm not really expecting that. This is gonna do a big breakout only because the open was this high red volume bar.

It had a pretty strong sell-off and it doesn't have fresh news today. Having said that stocks can be irrational and if they want to be really strong, I'd like to try to capitalize on that and ride that momentum. but I'm not sure that I'll be able to do that on my o. so I'll keep half an eye on it, but I'll probably be done trading for today and then be back at it tomorrow and you know we'll see what the market wants to give us.

Maybe another couple days of hot momentum and I'll be able to make up for some of the mistakes I made in January and get myself into a really solid place on the year. All right, So that's my game plan right now. I Hope you guys have a good afternoon for those you guys that keep trading and I will see you all first thing tomorrow morning. I'll stay in a chat room here to keep an eye on my O, but we'll call it a good day on the recap.

Hey, have you seen my most popular video on YouTube It's got over five million views! You can check it out right here and check out one of my other videos on YouTube right here. I Hope you guys enjoy it as always. If you have questions, leave them down below in the comment section. I Personally respond to every comment that's posted.