Everyone Well, I was once told snow means a new beginning I Sure hope that's true because I Just finished my second consecutive red day the last twenty days. two days of red 18 days green. But these last two red days have been tough. So hoping to bounce back tomorrow.

Friday with a Green Day finish the week strong. Going into next week feeling good. All right. Gonna break it all down in the recap today.

Any questions any comments leave below I'll come back to answer em later this afternoon All Right See you guys first thing tomorrow morning. Alright everyone, So time for our midday market recap. Record the trades from this morning. I'm gonna be finishing the day in the red second red day in a row.

Definitely a little bummed out about that. You know I was hoping to come back, you know, get set up back in my home office. Have a green day I Make a little money, but you know, just it didn't happen and it's a combination of sort of factors. Definitely a big one is just the overall market today not being quite as easy for me, and in fact, the last week or so has been a little bit more difficult.

So today's gonna be Red day number two down. two thousand, nine hundred and eight dollars and forty three cents. Don't want to forget about the cents, so it's the 226 day of the year, but today. So in the last 20 days I've had two red days and 18 green days during those 18 green days.

I made about seventy-five thousand dollars. So you know giving back four grand off the top now as of close to five percent drawdown versus the last twenty days. But you know, I'm not pumped about it. but I'm also not going to be, you know, bent out of shape about it because this is just part of the deal with being a traitor.

There's ups and downs. There's no such thing as a traitor who makes money a hundred percent of the time. The only thing that makes money 100 percent of time is the broker, right? the house, and you know, and and maybe some algorithms or something. but you know, and of course I'm sure even then, it depends on what scale you're looking at because when your scale is all the way down to, you know, maybe like an hourly scale.

Are there some hours where a broker might lose money or a hedge fund algo might lose money? Sure, Are there some days where it might lose money? Maybe. Are there some weeks where it might lose money? Well, probably probably rarely. Are there some months where it might lose money? I Hope, hopefully not. You know, For me, when I'm down in the timeframe of daily, there are some days where I lose money, step back to the weekly.

Occasionally I'll have a read week. you know, a couple times a year. If you maybe a few times a year, I'll have a read week and this week I'm down for well. I'm no.

wait. let's see. this week I made 2,000 on Monday and Tuesday. So I'm down about $2,000 now on the week.

So this might end up being a read week, you know? and that happens a few times a year. read months. I've only had one read month this year, so you know once you start stepping back and then what about Red Quarter? I Haven't had a Red Quarter since I was a beginner trader a read year I haven't had a read year since I was a beginner trader. So you know when you start to step back, confidence is restored.

That all right, You know this is just a little, you know, a little blip and it's not the end of the world. But of course, when you're sitting here trading, you're so hyper-focused You've got television and you're looking at, you're looking straight at your P&L and the stock that's moving today and that's your focus. and you don't think about all this other stuff. and so when you're in that tunnel vision, it can convince you want to day like today.

You know what? I Really don't want to close the day red. so if I don't want to close the day red I guess I should just keep trading until I'm not red anymore. So you take trade number four, then you take trade number five. Trade number six, Trade number seven, Trade number eight.

And maybe in some of those trades, there'll be a green trade. But will it be enough to get you out of the hole? Probably not. And what you're gonna do is you're gonna use up a lot of that mental you know of bandwidth just trying to dig yourself out of the hole. You can get yourself more and more and more frustrated.

And then when you finally get out of the tunnel and look around, what's your P&L look like you might be down $10,000 $15,000 Maybe $20,000 Maybe you're down $200,000 and I've seen all of that happen to traders and I've had a lot of that happen. even to me. I mean I've had a day where I sat here down $5,000 sitting and waiting for the next train, just sitting and waiting hoping for something to pop up that would give me an opportunity to get out of the hole and I jumped into something really aggressively spiking up on the scanners kind of like a Di. L Just did and promptly lost $25,000 and it became my worst.

The worst day of my career. down $30,000 So you know, take it from someone who's done this before earlier. I think Randy or one of our other students asked if I could stick around and keep calling out you know setups as I see them because I said okay guys, three read trades. That's rule number three three read trades in a row I'm walking away so I'm leaving and I said well you know if I sit and I keep giving throwing out ideas based on my accuracy today I'm gonna throw out a couple more losing ideas because I'm just not really hot today.

You know, maybe it's the market, Maybe it's me I think it's a combination, probably of both, but for whatever reason, I'm not on today. So if I keep throwing out ideas, odds are they're not gonna be very good. and also, you know I'm sort of trying to do a lot of things at once. I mean I'm I'm trying to trade my own account and do what's smart for my own account while also you know being a teacher for all of you guys and so sometimes typically those are compatible.

but there are times where they're not compatible. and on a day like today, the right thing to do for me as a trader is to get as far away from my computer screen as possible. So I don't keep trading cuz I need to manage my own risk I know for you, as a student, you're probably like, well, you know, why don't you just sit and hang out with us and you know if you do see something like a D il Papa walk us through it and I guess the problem for me is that it's very hard to do that without going ahead and pulling the trigger on the trade. And then that's how you end up taking trade number four or five and six.

and and that's when it can get bad. So you know in any case, I Saw John walked away earlier today as well. He sent me his P&L he was up like 300 bucks today so he actually did a little bit better than me. But you know it, it wasn't an easy day for sure.

I mean it just generally I was not an easy morning and the last few days haven't been easy yesterday. I lost 800 bucks the day before I only made 900 the day before that I only made 900. You know those are small green days. so I haven't had a really big home run in about a week and a half and it's kind of disappointing because you know December of last year was my best month of the year.

I Mean it was a really great month and you know, here at December 2018, I'm only up right now I'm really not up that much, you know a bummer. I was really hoping to finish the year with, you know, another really strong month. Granted, we still have you know, two, four, six, eight, ten or eleven days left in the year so things can turn around really quick. I mean I had mornings where I was like ah I don't want to do anything this morning except for just try to be green you know? And and then you know I make $10,000 Marybeth.

So I mean the thing is, yeah, I could do I could trade in the simulator. but if I'm not calling out good ideas, if the market is not hot, it doesn't really matter whether it's Sim money or real money, it's not. It's not helpful. You know, if this is this is just me.

You know my account. I'm down three read trades, but is this a reflection of how easy or difficult it is to trade today? Because if it is, then it's probably not a good good day for a beginner trader. even an Sim to really keep pushing it, you're most likely gonna get frustrated, you're not gonna see good resolution, you're gonna lose money, and I don't want to have days where you know. You also feel kind of just discouraged because the market is just you know, slow.

but you keep trading, you keep you know, pushing it, and then you lose money even if it isn't Sim. So anyway, so let's break down the trades from today. so um, let's see, get this little closer. All right.

So Gap scanner this morning let's see time frame historical date: 9:00 we'll just do like 9:25 a.m. Okay so leading Gap or A-t-il gapping up 38% as you can see right here. so on this one that I lost 700 bucks on it it was gapping up pre market had a pre market high as you can see here of 290. So as soon as the bell rang I jumped in for the break over to 90 I ended up kind of not getting the best fills.

Let's see I got in at 89 and then I doubled at 98. So I was in with 6000 shares at 94 and then we had like I don't know 10 or 12 thousand shares seller at $3 So I was like um I don't know I might maybe I should try to unwind the position a little bit, sold some at 99 and 98 and then it flushed down here to 72 63 and I stopped out at 73 and yeah, I guess that was at 73 So that was kind of a bummer and that was you know, right out of the gates I mean this just flushed came down, ended up doing a little bit of a red to green move here, squeezing back up to 310. another one-minute micro pullback ended up failing a rejection drop back down all the way back down, back to basically the lows. So it's back down to this level.

and you know, granted a little bit of support here at the 260 level. not enough to justify to me an entry, just kind of go in sideways and then all of a sudden right here it blasts through. Three dollars, goes too high a day, squeezes up, gets halted at 363, resumes, taps a high of 389 and has now faded a little bit off those levels. So on the daily chart, this has room up to 5 and that's why I was initially interested in it this morning, but it didn't make the breakout.

when I got in, it did this red to green move, then it sold off and then finally here, it made a big breakout. but then after the halt, it kind of just gave a little final push and then is sold off. So this may set up another 5-minute chart pattern for later today. Maybe it will get up over 4.

Maybe it will even hit 5, but you know, 13 million shares of volume 66 percent gain. Considering all that, it's been a little harder to trade than I would have expected. So on this one I am you know taking a $786 loss and done bit? Next one was my OS this one I jumped into pretty aggressively. it spiked up right here.

it looked like it was gonna go higher I was looking at this on a daily chart at that above to a dollar ninety-nine above two dollars, you know? Then it had room to go up towards 250. So I jumped in at 74, 78 and 79 and then added at 80. really thinking it was gonna go but it was just so thick with sellers I ended up selling it at 75 81 and where else 72. So considering I had 12 thousand shares, losing only three hundred eighty six dollars is not a bad loss, but that was disappointing.

So now I'm down a thousand bucks on the day. Trade number 3 CH Ek this one was on our Gap scanner this morning. It pops up on the Momo scanner I see it and I'm like okay you know I knew there was a headline on it and so I jumped into this one as it started to squeeze up here. squeeze as you can see from 360 all the way up to 398.

So I jumped in this one at 66, 68, 73 and 73 got a partial fill on this order. So at 9,500 shares sold some at 96 only a tiny about and then I added back 6,000 shares at 91 and 95 for the break over $4 I mean I'm stepping up to the plate here and we just didn't get that break over four. You know if we've gotten the break of four and I move up to 420 450, this would have been a really nice winner. My average was like 380 or 384 with I think 14,000 shares so you know on this one I was ready for to step it up and you know up to 420 would have been four or five thousand dollars of profit.

but we didn't do a one-minute micro pullback and go higher. We did a one-minute micro pullback and I just had to sell because it was coming down too far. So I lost 1,700 bucks on that one, you know? and that's just the way it goes. So that's it.

Three trades, three losses stepped up to the plate on two of them. ATI L was kind of small and I'm just gonna follow the rules today. So you know in the sense that three red trades puts me below rule number three and I'm also down more than $2,000 which is rule number two. So you know keeping losses relatively tight is what will keep you in the market considering my account size and everything else, $3,000 red days certainly not the end of the world.

My account this morning was at 201 thousand dollars, so we back down below 200k tomorrow. But whatever, it doesn't it doesn't really matter. It's not a big big red day. you know survive.

- you thrive, keep your head above water. live to trade another day. You know all that stuff is. you know relevant on a day like today.

I'd love to be green, but you know it's just. it's just. this is the hardest part of being a trader is that you know you're gonna have days where you sit down. you thought you do it.

You follow the rules, you do kind of everything you're supposed to do. And on a day when the market was hot, what would have happened was see HEK one minute micro pullback would have gotten bought up, would've squeezed up to four, maybe four 20, maybe even gotten halted at 4:40 Could have been, you know, a $7,000 winner. I could have been a really big win on a hot day. My OS on a hot day this micro pullback would have bought up would have broken over $2.00 would have been selling my 12,000 shares from 180 or whatever it was at two bucks $2,400 there.

Adi L in a hot market would have broken over four, and with 6,000 shares I probably would have made 602, maybe $1,200 at most or broken over three. That one wouldn't have been a home run, but it would have been a bigger winner and that would have gotten my cushion started. So I wouldn't say that, you know I Just say my trades in a hot market would have worked well and today in a cold market they were a little bit too aggressive for just kind of the market that we were in. so you know, got to bring it back down tomorrow.

Friday You know I don't want to have a third red day recap. so I just have to try to be focused right out of the gates on getting a green trade getting myself in the driver's seat. It's not about making back the losses from yesterday or today, it's just about trying to be. you know, just trying to be green and kind of clean the slate from these last two red days.

And ERUs know when I hit my daily profit target I Don't walk away I do keep trading generally but I set a new rule which is that I'm not gonna give back more than half of my daily daily profits and how to tell when the markets hot or cold I mean it's kind of hard because yesterday obviously we had sort of a big move on you Xin especially in the afternoon. You know there were some opportunities, but it didn't feel like it was easy. So I would say a reflection would be how the gap are performing. the socks are gapping up, are they going higher because that's gonna kind of create FOMO among traders and then stocks a hit the high day Momo scanner are more likely to open up and make bigger moves, but you know it's just kind of keeping an eye on the biggest gainers and and how how clean they're moving, how much they're moving.

So you know it is kind of based on my trades on my strategy. So if you trade a totally different strategy for trading Mike's strategy, you might say the markets really hot. If you are a short seller, maybe today you'd say the markets really hot. You did well in Chdk, you shorted Adi L.

and my OS you shorted so you know it it's relative, but you know from my perspective and for my strategy, it feels a little colder today. Alright, so anyways, that's it for me again. Reminder Today 1:00 p.m. Eastern About an hour and a half Mike is hosting a workshop on a large cab Trading for any of you guys who aren't already in the Warrior Pro class, you're welcome to register for that workshop I Put the link in the description on Facebook and I probably won't put the link on the YouTube video because by the time it gets uploaded, it'll already be past one o'clock.

So you guys will probably just miss this workshop but can attend the next one. Alright, so I hope you guys have a great afternoon. We'll be back at it first thing tomorrow morning around 9:00 9:15 for pre market analysis and hopefully I'm able to finish the week with a couple of green trades. All right! I'll see you guys in the morning.

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