So, what's going on team a quick little stock market update for you all, so i got a lot of good questions based off of my earlier video from today. So, first off, if you guys, are not subscribed to the youtube channel, make sure that you guys do subscribe. I upload new videos every single day, especially as the market has been pretty crazy with selling off for the past two and a half months, and in the past seven days we've been seeing a steady recovery. It's been super exciting, but if you want to stay up to date, smash that, like button and of course, subscribe turn on that post notifications.

So what is happening tomorrow? Well, the homeboy jerome powell is actually speaking tomorrow at eight in the morning eight in the morning and that's eastern standard time. So it's so amazing for us over here in the west coast. I get the the blessing of waking up at five in the morning and seeing how the market reacts to what drum said so uh all i'm looking for is for him not to announce anything worse. So we all i mean a lot of people have been asking a question ricky.

Why has the market been going up the past seven days, nothing's gotten better right? Inflation is still present still higher than ever. In the past 40 years, interest rates are going up. It's 10: it's expected to be more aggressive than uh. What was originally anticipated.

The tensions between russia and ukraine are still present, and oil prices are still there right or they're still high. So why is the market beginning to recover what i've learned about the market? And i'm not too sure if it's just myself, but what i've learned about the market is that it's not that good news was shared that causes the market to go up. It's that not worse news was shared. Is what causes the market to go up so as long as things are not getting worse, then things get better for the market right because they're already factored into the market.

So you need to understand that it takes time to understand. But again, that's the easiest way that i can make sense of why we kind of sold off yesterday, but didn't sell off today. Is things are not necessarily getting worse, which is good for the overall market? So again, 8 am set your alarms, i'm thinking of hosting a live session uh just so we can kind of react to what it is that he says together. If you guys would want to again tune on into that live session, just letting you guys know the previous video has to hit a thousand likes and it's about 59 likes away.

Last time i checked so it's up to you if it hits a thousand likes i'd, be more than happy to go, live at five in the morning and that's right before my live trading session. So a couple things that i want to answer very quickly: the nasdaq market pushed up today tkq ended the overall day um, nearly six percent in the green, the nasdaq market, two percent in the green. What i want to talk about is why is it i'm? Just i'm just answering, i got a lot of questions about this today and i love explaining myself. I love explaining myself not because i feel like i need to, but i want beginners that follow me right, because you guys have a lot of people to choose from to follow.

I want you to understand why i do what i do. I don't need you to agree with it. That's not the purpose here. I don't need you to copy me.

That's not what i want, but i want you to understand. I'm a big believer that i learn best when i understand why someone does what they do right with. That being said, the nasdaq market has been selling out for about two and a half months. So if the past two and a half months has taught me anything, it's that i should not be too confident.

Let me get a show of hands of anyone watching this video that trades perfectly every single time that that captures the bottom of a reversal and then sells at the overall top every single time. I don't know about you, but i'm not a perfect trader. I i've! Never captured a stock at the very bottom played it all the way to the very top and then locked in profit. Let me tell you what i realistically do.

I tend to sell early because i would rather sell early than so late. So when people ask me ricky, why are you day trading tqq now and not swing trading it right now? Well, it's overbought! Look at the macd look at the r side. It's a little bit more on the overbought side. Today was the seventh day or really sixth day in the past week that it's been green.

It's not that i need the market to pull back, but that i'm here to prepare for the worst, and let me explain this to you: i can day trade, these etfs. I can day trade these stocks that are going up every day right, but for the past six days the market's been going up so now we're reaching these overbought levels and a potential resistance level. It's not that. I don't think that the market can continue to go up.

It's not that i do believe in that. I want it to. I hope it does, but i know realistically, if the past two months have taught me anything, is that the market, when it pulls back it, pulls back hard, and i don't want to be in that position. I don't want to be invested and then it goes all the way back down and then i end up feeling like i am just so discouraged to trade again.

Do you get what i mean and i've been in that position so many times that any time i i swing trade, something and then it begins to recover, and then we reach a specific resistance level or a level where it's overbought enough. I need to be realistic with myself and understand that i'm not a perfect trader, i'm never going to capture the bottom of a stock on the top of a stock perfectly. So why am i you know not locking in profit or reducing position size at overbought levels? That is why i've sold my position on tqqq and when it comes down to swing trading, i'll hold a couple shares. I mean i have 2 800 shares uh 2800 dollars right now in comparison to what i trade with it's very my new, it's less than two percent right, i'm fine with holding a couple of shares, but i'm not going to hold a hundred thousand dollars worth of Tkq at these levels, the risk is simply not worth it.

That's that's all i have to say if it continues to rally tomorrow, i can day trade it and i can continue to partake in that rally and then, by the end of the day, i can close out my position manage and mitigate my risk at these overbought Levels, big picture, so if when it does pull back because it's not if but when it does, and the market opens 5 or 10 percent in the red, i'm not going to be devastated, i'm going to be excited because now i get to take advantage of an Opportunity - and it's because i've seen this cycle happen happen over and over again. So again, if you want to continue to hold your position, hold it, i'm not here to convince you. I want you to understand why i'm choosing to reduce my position size at these overbought levels as we're expecting somewhat of a pullback. It's not that you have to do it as well.

Is that i want you to understand why it's because i'm not a perfect trader, but i understand it enough that i don't want to put myself in a position where i then have to tolerate that pullback, and this goes the same way for everyone that part took In amc, amc was one of the top gainers today insane movement, i mean from normal market hours 15 and then after market hours. Ten percent trust me if you're day trading this, it makes perfect sense on why you are it's a high risk, high reward type of play. You can say whatever you want down in the comments section, but direction is in your favor. It is a day trade.

In my opinion, how can you say it today traded to movement? Really, it's a movement. That's been losing people 80, since the peak of amc right. Does that look like a movement for you? Well, the squeeze hasn't happened. Well, it's never happened in the history of the stock market, so i'm sorry that i don't believe you i'm okay with missing out on something.

That's never happened before. I'm not here to hope for something to happen, i'm here to take advantage of an opportunity right. So if amc continues to remain bullish and it remains and and maintains, that momentum then cool, it makes sense on why you're day trading it but to hold it overnight. You really think that amc is going to hold at these levels based off of its history.

It's only a matter of time for it to correct itself. So again, it's asking yourself: when is enough enough when it comes down to day trades, it's not about you being a perfect trader because realistically that's impossible, your entries and your exits are never going to be perfect. But that's okay! That's the great thing about this. The goal is always just to simply make progress: it's not to be perfect and to be okay with sometimes walking away, while that stock is still going up, because at the end of the day, i would rather capture a small portion of an opportunity than to be Someone that rides it all the way to the top and that bag holds it all the way to the bottom.

I know you know who i'm talking about, and i know a lot of us have been in that position before. That is exactly why i'm saying this. So those watching for the first time that are absolute beginners, don't need to make the same mistake that we did. Is that not the whole purpose of recapping our successes and our failures? It's why i started my youtube channel to not just talk about all of the lavish screen days, but to also put into perspective.

How important and crucial red days and risk management is to a trader, especially when you're just getting started. It's keeping trading realistic and, of course, simple, so i'm very excited to follow up with the market tomorrow. I hope that whatever drone pal says, i don't know why. I have this picture here, but i hope that whatever he says it causes the market to continue to go up i'll trade, it i'll day, trade, it and i'll close my position by the end of the day, i'm okay with that you do what you think is Best for your future self and i'll do the same over here.

My focus is risk management every single day. So again, if you guys want to tune on in to that live session, make sure you smash that, like button and, of course make sure you subscribe as well. If you guys want to be able to watch me, trade live as soon as tomorrow at market open. That's going to be my learn, plan, profit group and again that's that second link in the description - and this is the only group that gets to watch me.

Trade live every single day at market open for our live trading session and from the reminder, you guys see the wall street hoodie that i'm wearing right now all of my gear when it comes down to the mouse pads. Everything that is that i have in my office, including the flags back there are all from shoptechbuds.com, and that is that fourth link in the description, you guys want to pick some of that stuff. Up again, we do ship worldwide so make sure that you're aware of that, we appreciate your guys's time. I hope and wish you guys an amazing start to the week.

Let's buckle up because things might get choppy like always, let's make sure that we end the year on a green now, take it easy team.