So did I sell my entire position today in Tqq? or of TQ what's in On team to trick you attack the solutions. But before we even get started with today's video, I'm thinking of hosting a free Live trading session tomorrow I'm gonna leave it up to you yet if you guys can get this video to over 2 000 likes I Will host a free live trading session tomorrow Friday December 30th The last trading day of the year for free right at Market open. So this will give you a taste of what it's like to watch me trade live. Something to learn, find Profit Group gets to experience every single day.

If you want to learn more about our OPP team, that's that second link down below. But again, if you want me to host that free live trading session, all we literally ask you to do is get this video to over 2 000 likes and make sure that you subscribe without further. Ado I Wanted to update you guys on my position just like when I share that just because I buy doesn't mean that you should buy. Just because I sell does not mean that you should sell I did reduce my position size today in Tqq I sold the majority of the positions that I uh, majority of my shares that I was day trading with uh within our live training session with our Lpp team.

Mills Caught very early on I was adding to my Tqq position as the NASDAQ Market was indicating signs of an uptrend. It really didn't break this pattern until two to three hours after the market opened. We then began to trade sideways. One of the things that I talk about all the time with my Lpp team is again any open position.

there's a position that's open to risk. so if there is no progression meaning that if the stock is not continuing to indicate signs of an uptrend, if it's beginning to trade sideways, if it's beginning to show signs of a resistance level which is very easy to see, right right around 1750 that was kind of the peak, but a lot of the consolidation that happened today was right around 1738. at least that's where I mainly saw it to happen. You guys could see that it had its resistance range right around that 1750, but its support range right around that 17, 30, 17, 27 and again, it's never going to be perfect.

But within this range we began to establish some form of you know support and resistance range. At that point when there is no progression. Again, going back to the basics: any open position is a position that's open to risk. I began to load off on my position I had at one point over 30 000 shares of Tqq I began to load off on it, reduce my position size and yeah, I mean I didn't sell perfectly I think my average exit was right around like 1733 1735 it hit highs of 17.50 and again, my goal should never be to be perfect because at that point I'm going to let myself down all the time, right? My goal should never be to get in at the lowest price point and sell at the highest.

My job as a Trader is to get in when it makes sense that it's a good deal right? doesn't meet my criteria's opportunity on my side. And then when I see things to look a little bit more risky than what I want to be able to tolerate, then that's when I can begin to ask those kind of like simple questions. Am I still seeing progression? always seen a potential break if pattern. What's my upside potential versus my downside risk? Why do I still have an open position If my original intention was to day trade, but it looks like there is no more upside potential based off of this intraday plane.

And that's when I decided to reduce my position size from over 30 000 shares to now 8 000 shares. I'll probably reduce my position size by the time the actual aftermarket trading session closes. Uh, back down to about one to two thousand shares and we'll start fresh with a clean slate tomorrow for our free live trading session if you guys get it to over 2000 likes. But one of the things that I want to talk about is what's what happened today.

So if you didn't watch our earlier video today, we talked about initial claims for those that are unaware. Again, my job here on YouTube is just to make you aware and keep things a little bit more simple of these economic reports. They make them very complicated to understand and they're not. The first report was one hour before the market opened.

Uh, the first two reports, it was initial claims and continuing claims. You could see that initial claims had an expectation of 220k and they came in with an actual of 225k. I Want to explain this to you? It's actually super simple. Initial claims means the the number of people that have filed for unemployment for the first time initially.

right? Continuing claims are the people that have filed for unemployment on a continuous basis, right? It's not their first time. So again, going back to these actual numbers, you guys can see that initial claims we had an expectation of 220 000 people that were going to file for the first time. It was actually 225 000. Again, right now bad news is good news.

That means that more people have filed for unemployment than expected. This means that most likely more people have lost their jobs. Why would that cause the market to go up again? It's a very backwards way of thinking. but right now we're trying to look at the stock market.

Through The Eyes Of the Federal Reserve the Federal Reserve has been raising interest rates to bring down inflation. They want the economy. They want the economy to really feel the pressure and to really slow down. So this actually supports the Federal Reserve and their focus and their efforts.

So this means that they can hopefully be less aggressive with future interest rate hikes in 2023.. So I Just wanted you to understand the why. Why did you know know the market go up if a worse report was expected or more people filed for unemployment. Again, it's not about what I Think it's not about what I want, but the Federal Reserve wants unemployment to be higher, right? They want the Econ.

They want the economy to slow down. They want unemployment to be right around 4.1 to 4.3 percent by 2023. What's to be reported tomorrow? This is the Chicago PMI. So if you actually end up tuning on into our free live trading session tomorrow, this is going to be the Chicago PMI And it's going to be 15 minutes after the market opened and the expectation is 40.

The prior is 37. The Chicago PMI is pretty much an index that gives us a better understanding on how manufacturers are doing in the Chicago region. It's nothing crazy, it will influence the market for you know, a short period of time, but it's not something that should be detrimental to the overall market. So just please understand that, right? And that's going to be 15 minutes after the Market opens tomorrow on December 30th Again, it will be hosted.

We will catch that movement live within our free live trading session. An amazing day for most of the market. If you were a bull and check this out, this is for Tesla Tesla is up eight percent on the day and an additional one percent after market hours. This is a nice little comeback after it's you know, aggressive 11 almost 14 sell-off in one day.

but again one green day. This is one thing that I wanted to make sure I made very, very clear why am I day trading so heavily But why don't I hold that position for a long-term You know potential well I don't know if this is the bottom of the market, right? So I have no problem taking advantage of an opportunity for these you know, short-term rallies. but I also need to understand that these rallies might not last forever, right? The market just might correct itself and sell right back off again. And I might want to end up shorting the market on the way down.

And this is what I want to show you. If we look at the actual NASDAQ futures and you look at it on the five minute time frame, it's very easy to see how much the market gapped up today alone I mean that's a huge gap up and if we don't hold at this 11, 000, 11, 000 range Uh, for the NASDAQ Market you know we have a huge gap back down and that is my concern of again I want to have enough money that I take it seriously and then I put money in areas where I see there to be long-term potential. but I also don't want to be blind to the idea of thinking that this is the bottom, right? I I don't know. No one knows if this is the bottom.

The idea and the focus that I have right now is for my long-term place I'm not afraid to take advantage of those positions I just do it in a more calculated way I have a lighter position so I can tolerate the time that it will take for the market to actually recover. and when it comes down to my intraday plays like today, they meet my criteria of directions are my favorite if there's progression and again, that's when I step on the gas, but that's only for a short period of time. I'm very excited for 2023 and hopefully the market does end up resuming back to being bullish, but again, only time will tell. So that's why we always talk about put yourself in a position that you can tolerate the time that it will take for markets to actually recover, not need them to recover.

There's a big difference, right? You need to find that balance. It does take time, but after you make a couple of mistakes I think you, you'll actually begin to take it seriously. So if you have any questions about what we talked about today I Hope that you know that you can always send me a direct message via Discord And that's that first link down below, especially if you've ever wanted to get started again. I Can't answer your questions if you don't reach out.

If you have any questions and you want to reach me, I'll reach out to me over Instagram That's going to be the third link down below I am verified on Instagram and yes, that is my only Instagram account. All of the other ones are fake and I can promise you that again. If you want to be able to watch me trade live tomorrow and you like the way that I broke things down today I'd love to have you for our free live training session. just get this video to over 2000 likes and make sure that you subscribe to the channel.

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Let's make sure that we're in the year on a green now. Take it easy team!.