What's up everyone? All right? So in this episode, I am joined by three other Traders Hamang, Max and Danny and we're gonna talk and give you the state of the market address for uh, this week here and we're going to talk about kind of where we're at on the year so far. we're six weeks into the year and it's a good chance to kind of level set. like how does this year feel so far? are we moving the right direction and then we're gonna talk about a couple specific trades on Msgm and maybe a few others because we did just have this sort of burst of momentum over the last week and a half. So we'll break that down.

But um, you guys hear from me enough. So why don't we get started with Danny and Danny You know, how's this year feeling so far for you? Um, it's it's a good question I think how is it feeling is really difficult? um how am I doing is really pretty well I can't really focused on my strategy that I know works well for me um I wasn't really happy at all with how I performed in 2022 and so I took a lot away from that of how I want to adjust my trading this year and I really focused on on my own strategy and um, trying not to make the same mistakes I was making last year. Yes, not as much, not as badly. you know, just trying to do a little bit better And it's been working out for me so far this year, but um, it's been really difficult.

Uh, it's it's a really difficult time in the market right now. It's very choppy, but um I've been doing well to avoid a lot of the chop and trying to trying to just be really patient. get good at entries and good trades. One of the things that I know about you you are trading with TD Ameritrade you have no commissions and since we have no commissions at least last year I saw a lot of days that I might have thought you were over training like like you hanging in long hours just trading and trading and trading.

and I'm like you know I go run some errands I come back and you're like I'm in this I'm in that but my God he is still going at it. So on the put on the one on one hand you know there's a downside, you're over trading I think maybe. but on the other hand, you do gain a lot of experience doing that. It's a lot of time in the chair.

how are you raining that in? or are you still trading like all through the day? So that was one thing about last year that I wasn't too happy with being on. TD of course I don't pay for every trade that I make you know unless it's a red trade. So I'm not disincentivized from just taking a trade that I feel I want to take. Um, that definitely solidified some bad habits in my trading that I think really hurt me in 2022 where you were really not paid or rewarded for sticking around.

Um, at the same time, I did learn a lot from the mistakes that I was making and I seem to be doing better with that coming into this year. and um, I was actually writing just some thoughts down yesterday and one of the things that I wrote down was that I have been really happy with how I've pretty much been trading the morning session lately and just getting out. Um, one of the realizations that I kind of came to was if I wanted to make more money on that day, I should have taken bigger size on the setups that I knew were good and I should have tried to figure out how to avoid some of the losses. and then aside from that, like just over trading When there's less volume through the middle of the day and there's just no range.

It just doesn't make sense that I'm wasting energy. How do you say that? Because I was thinking about something similar this morning at when I was looking at Celz because and I know Max you were trading it this morning too. so Celz leading gapper Mike and else on the screen so you guys on YouTube will be able to see it. Um, but you know I I felt like I ended up missing this kind of big candle that went from 1 15 up to 136.

I looked down for a second I was like recording one of my stupid YouTube shorts and I look back up and I'm like oh my God is it 135 I just missed it and then I kind of overcompensated by trading it a lot. you know the area where it had like no range, it had like an eight Cent range and I'm like in and out with big size making nothing turning commissions and sometimes I think like there was a. There were a couple of really good opportunities today and there'll probably be a couple good opportunities every day. I need to try to hit those hard and then when it gets choppy and range bound just like seriously slow down with share size until it opens up again.

Yeah sometimes they do open up again but other times they don't and then I'm looking at all my trades are the range where it was choppy one of so a follow-up thought on that. um one of the traders in our community. for anybody on YouTube who's not aware uh we've got this guy to knowing yeah animal yeah every now and then he just drops these little tidbits that are so important and one of that recently was something about all I need is range and volume and with those two things you can make there are traits that are worth taking and I have done really well to kind of infertilize that lately he's like is this just kind of like range down five to ten of cents or is it actually going to give me a move that's worth trading? Wow and so that's been really good for me. and then whenever something is kind of range bound I've been doing a good job to just not trade it because those can be really tough.

They can really suck you in to over trading, getting really frustrated, and then like having to really having a day that you really didn't plan for. Yeah. I agree. Good point.

So all right. well, so max. um, what about you? Where are you at? Um, you know these first six weeks of the year? Are you feeling like you're off to a good start? or churning? Or yeah, um, first six weeks so far I'm off to a pretty solid start, especially compared to how quarter four was for me. good.

from September to November I Just read at three weeks at those were three months in a row I've never had two months two Redmonds in a row so that is really tough time to overcome. But I mean as of right now the start of the year I feel like we've been getting more volume? uh, more opportunities. And like Danny said though too it I Think this is a market that's gonna be really hard to learn in for a lot of new. um Traders but at the same time though too.

Uh, you know you're rewarded for the good setups you're taking, but you're also punished for the bad side of sleep. You're also feed so it's kind of hand in hand. You're going to learn a lot easier at it. Um, but I mean one thing that I really want to take into the studio too that I'm already noticing is that my red days are significantly bigger than my green days last year or two I over traded just left Danny So I'm trying to get up earlier so that I don't kind of go on safe habit of trying to get out of my red days take out the hole but that's kind of so far for me.

I'm noticing that there's some decent moves to capitalize off of though. Cool? yeah yeah. I mean we I felt like well I mean it's a it's a matter of my my actual statistics January was better than December and it was better than November and it was better than October It was the best month I'd had since September uh so January was better for me I was like okay I'm starting to get into a group I had one red day which was a little bit of a bigger red day but I had a lot I didn't have any big green days but I had a lot of kind of nice base hit days and they added up. you know, 19 or so base head days and one red day or 20 days in the month? we'll give or take.

That was not too bad in February So far has been kind of that continuation of base hit days. today. For me, it's like another base hit day. It's not a big green day, but you know, 20 days like today they certainly add up as long as I don't have those big red days that are you know drawing against it.

Come on, what about you? Uh Hey guys. So for me you know the year has not been treating me that well. I am in a drawdown trouble in Paradise Yep, uh you know I mean at the end of last year I was doing fine October November I was just charting through and then I had my first red month in December and I was also on a trip to India Bali Singapore and I'll stream a little bit there. Uh, but you know when I came back I just wanted to like I saw that I missed.

you know, really great moves in the market. So I guess I had a little fomo yeah and that just made me just want to come in swinging and you know I I you know I call myself started slowing down and then you know I it and then I was on this journey where I was just you know I really decreased my goal down to like That's nothing I'm like I just won a green day yeah very small Green Day spine and then you know it's making these small increment moments and then all of a sudden boom and then small increments all of a sudden boom. so I'm still red on the air. uh but I think I'm not I'm not too too red on the air.

um just just about at break even or lower. but you know that's that's my story and you know just to reiterate what Max and uh Danny said this. Market is really hard because it can really punish your mistakes. It can really punish the bad moves and you know the the good moves that you make.

The good trades that you take are not super rewarding so it could be really. You know you have to be really mindful coming from someone like me. I added so much to my Arsenal last year. I was trading all kinds of setups, you know, just added I just kept adding more and more and more and well yeah it was true that it was making me more.

I did make a lot of you know make a lot from those moves and I was happy with that. but now is my time to just you know, bring it down and just close off to a few setups that I can nail and make consistent amount of money. It's not about how much money I don't need to be making a lot of money. I just need to be making that consistent profit, do my work and get out.

and yeah, I was also with Danny you know, sitting all day I think 2021 I was sitting there like all day on my screen 2022 halfway through I just started getting up and just leaving and out around like 11 o'clock Yeah, you know Max was doing that too. like just towards the end of 2022, we're just getting up and just leaving at around like 10 30, 11, 11, 30 Max uh and this year I've been doing the same, but some days I'll stick around just a little bit and then definitely, you know, dangerous time right now. for me at least it's from 11 to uh 2 30 and then I'll sometimes. I'll come back at like three to four and see what's going on, but you know it's been dead in the afternoon.

but yeah, that's that's where I'm at. Yeah, I mean I listen I I feel you being on the drawdown and um I I didn't have a very good finish to the year last year I was really bummed out because I had like I was like August was my best month of the year which is totally atypical and then I was like okay I have the goal for what I want to do in September October November December and if I do that I'm gonna finish the Year this and then I came up like actually I was a I was above it in September um by 30 and then I was built I was like way below in October way below in November not even close in December and I was like wow, okay, that goes out the window and I kind of had to come back to this. Just be consistent right now I'm doing the best I can There's just not as much to sing my teeth into and I think it's a combination of, you know, we had this crazy 2020 2021 trading surge, tons of liquidity, tons of momentum, and now you know You've heard from all these broker dealers, you know fewer customers and this and that and the question about what's going to happen with payment for order flow. and there's the and the bear market.

and I think all of that has um Zapped some of the liquidity out of the market and so we've had some volatility. We've had some range, but sometimes when we have it, it's not very liquid so it's like well, I can't even size into this thing you know I mean yeah, if something might go up five points but then I could never have bought 20 000 shares to capture it without a ton of slippage and that that's kind of a bummer. Um, so it's you. Yeah, I've been kind of just in that mentality of like just catching those bass hits.

I I've also been dealing with that thing about you know, not being able to size in because I'm I was used to taking huge sizes you know and then I've only kept going up from like 2020 to 2021 and then 2022. and then now that I have to I know there's been periods where I had to size down. You know, just because I'm gonna draw down or just have to tighten up a little bit until you know I'm in a better spot then I can size up again. but you know right now, uh, you know I guess I Just want to ask you guys that for those that are listening that you know have been shooting for a while or are barely profitable, how to like kind of navigate through going up and down in size and just navigating that area of when to size up and when to size down.

So for me, I'm just sized down I'll just take like, you know, maybe a few thousand shares. and if not, I'll just take a thousand shares. That's what I'm doing right now. Danny Maxwell about you guys? Um, I am.

So for for people watching who don't know, I'm a I'm not quite as uh, large or aggressive as a Trader as Madison come on yet. uh Max and her mom can load up ten, twenty thirty thousand shares on stuff I'm still working up. uh, you know, one, two, three, five thousand shares. So I am since I'm doing well with my strategy right now I am still Travis Salza.

Um, so for me, like most of 2020, I was probably taking trades with between one to two thousand shares. Um, today my biggest position I was holding was 5 000 shares. So I'm like I mentioned before I'm trying to load up on those plays that I think are really high quality and that's my strategy at the moment. I'm still trying to size up, but mostly just because you know I'm not in a drawdown.

Um, I've been seeing consistent success with my strategy. Um, so to me that means you know, take more size I don't I don't really want to be just totally comfortable all the time? Um, at the same time you just have to take what the market gives. Uh Ross you were talking about. You know your plans for like September October November the rest of the year last year and it just makes me think you know we we all have these plans and expectations and then and then the market just doesn't care.

Yeah, totally. you just. you just have to trade what is actually happening in front of you as best as you can and kind of listen to what's happening with your results. From that.

Yeah, no, that's a really, really good point. I mean that's like you know, being a surfer and going out and being like I'm gonna catch big waves today and then you go out and then you're old there and there's nothing there. It's like okay I guess that's not happening but yeah I mean you could I feel like with that you could I don't know I mean I'd like to think that you'd be like yeah, it's not even worth trying but with Trading it can be easy to kind of lie to yourself in a way and be like there's enough here for me to really try and I know for me like when I do that and I'm like in this grind of like really struggling to make like a couple of small winners. but then when I have a stock that ends up being really clean I'm like night and day like why was I driving myself crazy with all that chopping from a walk? it's it's such it's such a mindset thing and you're an analogy right there was just making me think you know I live out near the coast here in California go surfing um I think it's just totally your expectations.

like sure, a head high day on, you know, really nice breaking waves is awesome but if that's not what's happening I'll take out my longer board and just enjoy the nice day out on the coast. I'm not going to be looking for those same waves if it's not happening I'll just you know, have fun and have a good day. So I think it's kind of hard to do with trading, it's not. It's like you can't really just like have fun and like hang yeah some like I don't know it's on.

The main point with that is like if you're not happy to like head high barreling days in the market, yeah, only expect it and swing for it because then you're going to be really pissed off about why. that's me. that's me for sure. I'll be taking a couple thousand shares and then I'm like oh, this is the one and then boom I saw something like a punished really bad I think that and that's that's my.

that's been my struggle because it's such an ego related thing I feel like it Just my ego just takes a huge hit when I'm one of the size down from 20 000 shares, two thousand shares because yeah, it's so many it comes back to expectations, right? My expectations are that I'm taking that and I need to be making at least this much, right? Whatever number that is I need to be making at least this much on the market. but at the back of my head I have to be real with myself that this is not the market. but you know ego is also kind of a thing that is not going to let you realize that it's gonna make you so emotional in the moment. I Know this is it and you just jump in so you have to be really Mindful and practice outside of trading that you know this could happen.

These are the scenarios that I can run into. and even at those in those scenarios, one I am down not to go back and revenge tray, just go and find a quality setups and if not better, just get up and come back tomorrow. Yeah boy. I agree with that.

What about you? Yeah, honestly I like that you say something about expectations though too because I think it's so difficult to control the remote things when you come off really big green day or a really big green streak and then try and size up the next day it's back from the same momentum. That's the thing about creating those. If you can come into each day even after a Big Green Day and expect nothing out of it I think that's going to say most of these for success and I can speak English too. From last week I had a really big Green Day the next day I'd offer more than I needed 84.

uh and that sucks. You know it's not easy going fermented. Two, however though, I like to think rad periods or red days as a learning lesson though too because last quarter or last not quarter before I can save. Last year there was a period where I didn't size down just like you.

Ross I had a really good August month that wasn't the best one ever. Investment building here. Uh, in September I was expecting, you know, similar results so I wasn't able to size down and I kept the same share size and I got chopped up on crazy. So I took a massive hits off.

Yeah and it took me a little too long to size down my size and I'm like I'm editing about it. but yeah again expecting nothing though from each period or each day. I think it's going to be the best though for your share size or for gift profits. and yeah, it's it's you know for me right now I feel like I want to try to hit the one or two really good setups with more size to make them count so that for me might be like 15 or 20 000 shares.

I I was trading with a cap through from like maybe May or June of last year until starting towards the end of the year. I was keeping him pretty solidly under ten thousand. Sometimes I would go to 15. occasionally I let myself go up a little higher, but very rarely.

but more recently I've been more comfortable starting with 10 and going to 15 or maybe 20. today I went a little higher on Celz because it was cheap. It was like a dollar 20 cents or something, but it was 35 000, 37 000 shares. But in any case, I'm kind of trying to hit those one or two trades a little bit more size to make them count and then just like, get out earlier and that you know I I Really do struggle with that because I do get Fomo and you know on Msgm last week to show you guys the chart.

For those that are watching, you know I I really got some pretty bad fomo on that one. Uh, this is the one that Max did really well on and then, um, who was it? Msgm maxed it really well on it on the first day and then gave back those profits on day two. I had a really close call on day two, like sizing up early pre-market and so like if we look at that one. um, and maybe what was your for all of you guys, you know, the four.

The four of us are through with the review. Um, when you were trading Msgm like what was your kind of take on it? Were you all trading it pretty early? Because or were you? did you wait until it started to open up? For me, it was pretty much right at the open. Uh, I waited for it, uh, to start to open up a little bit. Uh, mostly to what we've been seeing before.

that though. I Like to follow some sort of trend that we've been seeing up to and for the most part at the beginning this year we've been seeing our decent leading gabbers start to fail and kind of just paid off. Yeah, uh. so on this one though, I was kind of expecting something similar to it.

However, pretty early on at the open we saw Randy premium which I liked um and then shortly after that it scared to sell off. Back done on their Settlement hours again and then one thing again. Another criminated scene though is these low days get caught up and then we get into the grievable out of it. So I was kind of waiting for that then too and once we got back over Highway I was pretty bold shot but I kind of waited more so for it to start curling and prove that it was going to pulled interesting I see on that one for me I started trading it um I missed that Spike at 7am and I was really annoyed at myself because I was had set the intention that I was going to be sitting down to trade at 7am and then that morning I got held up you know things happened and I it wasn't there.

so I missed that 7 A.M Spike and basically sat down and was you know, sort of like I basically aggressively traded it between 715 and like you know, 9 15 and I got green on it. but like if we're going to be honest, like that wasn't the range where it was really moving except for maybe like three candles around 8 15. it was basically like range bound and then I kind of tapped myself out when we saw that false breakout at 9 50. I don't know if you guys noticed, but it like hit 950 and then it dropped all the way down to 850 and I was like whoa, see, that's what I'm talking about.

this thing is too risky. But then it came back up, blew through 950 and halted up at 12.50 and I missed that whole thing and I didn't want to chase it and I left all that on the table. you know, not that I walk away green because I did. but I just felt like maybe I didn't trade it as well I don't know I I was frustrated myself.

what did you do on that one? Danny well um yeah. so what you were just talking about where it it, uh, it hit the high in like 950. it dropped back down and then it came back up. That is kind of the main setup that I've been watching for lately is and Max was talking about it too.

We have been seeing these bigger moves happen when something is chopping around and it tries to reject multiple times and it can't break down. You need to see it get bought up off the bottom a couple of times and then usually what we'll see is an attempt upward. Maybe it gets rejected. Um, and then maybe we'll have like one more downtick that gets bought up into highs.

Um, so that's actually where I started trading it it? Um I forget about time of day, but it was right around nine dollars. It drops down to like 8.95 for just a tick. It got bought up, it made a bottom tail and it went straight up. That's phenomenal.

Yeah, it's on the it's on the one minute chart. Yes, I'm looking. Yeah, yeah. Uh so I I actually didn't I didn't make really big profit on it I did well enough.

Um I was trading pretty conservative size on it because of the range of the spreads. Um I didn't expect that it would make that big of a move. Yeah, Um, so I I guess I didn't fully understand the risk and reward on it. Um, you know it's it's always easier to look back and say oh I Guess that's why I squeezed a thousand percent on the day.

but those ones are really hard to trade when they're just going straight up fall to Halt It's like where do you get in That makes sense. and and how do you get in when they're moving so fast? Yeah, they can be really hard to trade and they can make a lot of emotions and so like if you got green on it I think you just take it. uh if you were red on it or just a little bit red on it, it's just it is what it is. Those are kind of outliers and um, those can be pretty difficult.

So let me just get it. Sorry, it's cool. we see that though because the Cult I did do pretty well on it wise because the alts up though in that period. I Feel like every time it just goes from Fall to cult I'm chasing like crazy.

Yeah. so I missed the entire room basically from 10 up to 16 and I was waiting for the pullbacks on those because some of these setups though. Just like that at the end of the week was talking about the um, it was over 10 and 20 week, you know? I think it was that bottoming too. That's a beautiful setup right there.

That's a pullback after coming down behind a day. I Think that's more of the setups that I've been looking for rather than the extensions. Even though you can get a nice glue up, they're a lot safer to them. You're it's you know you're expecting to call back waiting for it.

so when you get it, you're You know what you're looking for. Yeah, yeah for me. I would say Msgn I was trading it with you in the morning Ross Uh, you know about seven A.m 7, 15 ish, pre-market yeah and then and then yeah. I was treating it all through all throughout the halts, you know, but the first one I made quite a bit and then when it opened up, you know, the uh right around Danny when you were saying that not in 50 that you know uh the little push down below none and then it started going up when we saw that I started trading it actively and then I was in the first hall and then I made you know I got really green and then the second heart right before it held in I actually uh we made an eagle high and then on the way back I took a pullback and I gave back 75 of my profits.

Wow dude off and that was the worst feeling. especially when I knew that you know I'm red I was really good I mean I could have uh that was gonna probably put me great uh on the month I'm not sure about that. Bob uh anyway I was doing good and then after that hot I'm like okay, yeah so this is probably I'm just gonna be have to be okay with this. let's just walk away but then no, it wasn't done yet.

it holds up again and then I took that again and put me back where I was as you were saying Danny this could be these are not at all like you know. For those of you listening out there, it's don't be. Don't feel like a loser if you didn't take part in this madness because you know it's not. It's not gonna bring good feelings to you, even if you made a lot of money, don't feel like you know all of a sudden you know how to trade now because you know this is not.

This is an outlier situation here. This this does not happen every day, right? and that it happens once in a blue moon for sure. then it could really punish you and then so I made it back and then and then later on I was just training it throughout the day because I'm like then I was I think chasing percentages. that's what I was doing I'm like okay, uh, it's it's at 700 now so it's probably gonna go to 800.

that's being a little. 900 is going to go to a thousand percent. So and did it hit a thousand percent on that day I forget what like 985 or something like that? Okay so and then I'm like you know it's definitely gonna hit a thousand now. So I was buying some pullback I forgot winner and that's where I gave like 40 of the back and then I'm like I'm done.

This is good enough I haven't We haven't seen this momentum and you know I was more than I was more excited for the momentum I was gonna brought yeah, how much money I was able to make on the whole Ticker on the madness that happened I'm like you know what? this is finally gonna bring some new Traders some more momentum into the market and tomorrow I'm looking forward to tomorrow Whatever happened today I'm just gonna shove it under the rug and you know, just brush it off. Yep, whatever. I'm more excited for tomorrow. Yeah, we did.

it did start. I mean we at least for me I didn't have my biggest uh, green day of the year on bad day or on that stock. um I did okay on it but it you know for a variety of reasons I left money on the table this and that but I felt I feel like we've sort of I've been in this groove of hitting decent bass hits and I hit some decent bass hits on it and I got a little over what I said to my daily goal and I was like you know that's good I don't want to overstable welcome because I've had so many days where I give back those gains I get emotionally activated and then it starts to spiral and right now I'm kind of just like I'm I'm wanting to be in the practice of trying to trade less and I I feel like there'll be a time when maybe we are seeing more opportunities and those are times I should stick it out. but am I think in hindsight it could have stuck it out a little longer on Msgm, but you know the it's just so hard to know because like it happened to you, it went higher and then you managed to give back 75 percent in a place where you would think that was even possible.

but it can happen. That's the thing and that's the worst feeling too. Yeah I would I would so much rather one of so I was a swimmer in college and through my high school days and all of that one of the best things that one of my coaches and friends told me one time was consistency over intensity every time because you get it's It's so hard when you're just like trying to be so intense and try to like nail the whole rugs and then you're just so emotionally activated and it's hard to not take that into the next day. It's and you did a really good job of that last year.

Ross through the summer you were talking about how you would kind of sized down but then you had like what like 45 grilling days in a row? Yeah no I you know you're right. Yeah, it was that that was I was taking solace in the fact that even though I wasn't hitting big green days, I was having lots of small green days. but I I did kind of get myself into a little bit of a thing where I was like it's actually I was telling myself I was like it's not hard to be green every day and I'm going to preface with all my disclaimers here than trading is hard but I got myself into this mindset where I thought it wasn't hard because my first couple trades I would sort of test the water with smaller size and if I went red I was red usually only a little bit and so there was lots of time in the day for me to get back to green. Or if I went green then I just kind of start scaling down right away.

and so you know I I did end up eventually having a red day and and ending that you know, long green streak. but I still finished the year being pretty consistent. Even though I didn't have big big green days, it was pretty consistent with small green days, you know. But um, you know I I You have to be careful not to get yourself too caught up about consistency because then you can get yourself into that its own mental trap of doing everything possible not to have a loss when really, if that doesn't matter, it's not a big deal.

It's totally okay to have red days, so it's it should be in. uh, any good trading plan should include Reddit is because they're going to happen. You're going to take red trades. You're going to have red trades even if you're a really good Trader yeah.

but it's also yeah. You know, as you guys are mentioning it, it's really you know our human 's are not used to having red days right? I mean when we plan in forward, let's say you're planning today tonight. when you're watching this, you're planning for the next days. uh uh.

trading plan. You're like okay I'm gonna take this I'm going to take that about. You know your mind, your psyche is not going to let you. You know, foresee that on red day, right? you have to kind of force it.

It's your ego doesn't let you or you know you're fearful. your yourself is not going to let you. It's really, it's hard to be okay with uncertainty, right? So you have to really take that. Uh, make that a point that hey, you know tomorrow could be a red day and it's part of the game.

Yeah, how big of a road day? I Don't know that's based on, that's based on a plan, but you know you have to be okay with that uncertainty. and that's what this game comes with I Think it's also important though to understand exactly where he went wrong with those days. So understanding your loss, your red days, your rep trades I Think that's also the most important part though, too, because I think for cost of the reason that we're profitable is because we are. You know, in a way, perfectionists.

and we're always trying to improve in our strategy. So in order to do that, we must understand exactly where we went wrong And learn from it though too, to understand exactly what to do or what not to do. You know, tomorrow the next day? Yeah, for sure. No, that's a really good point.

You, you have to be trying to learn from mistakes, so it doesn't mean the thing is, not every loss is necessarily a mistake because you know even the best Traders are going to be right. probably only 70 of the time, maybe 80. So 20 of time you're going to be wrong and those aren't You shouldn't look at those as mistakes. You should look at those as calculated trades that you took that were losers and that's totally okay.

But then there are also mistakes that you can make which is a day where you go from I don't know. like for me. So the day at the second day msgm day one, you know I did do super well and then day two I sat down at my computer at uh, super early. it was um, well it was I wanted to be sitting here by 7am but I was running a little bit late again and so by the time I sat down it was 6 58 and I didn't have my glasses on I was just like turning on my computer and I was like okay, what's what's moving and I saw, uh Msgm was at 47 a share or something like that and I was like all right I was like Double Take I was like for real oh my God it was.

It was up 200, it was gapping up again and so the second I saw that I just like I started pressing the buy button at 6, 40, 6, 59 and it ended up um, squeezing up to a high of 52.64 cents a share. and then the next candle dropped all the way down to 45. It dropped like almost eight points in one candle and I was holding full size. And you know what? God forbid they had dropped the news of the secondary offering at seven A.m That thing could have dropped 20 points and that's exactly what did happen when they did drop the offering news.

Um, you know, a little bit later that morning. uh, it was. It was right here. for those looking at the chart, so like that was a spot where I made a mistake in my judgment call you know I took way too much size I was too aggressive I wasn't thinking about how it was a second day of continuation.

you know, profit taking at 7am and anyways, so you know that was an opportunity for me. Fortunately, I was able to unwind the trade and finish green on the day. But uh, those are the types of things that you don't want to brush under the carpet. You really want to look closely at where you made a mistake and what you can do to try to avoid it.

But you know, unfortunately there will be outlier traits like that every month every year, probably where for whatever reason you know, maybe it was just you got in the sort of the heated moment you made the wrong call and the cost was substantial and now you've got to recoup it and it's frustrating him on when you're in the situation of like rebuilding an account with like small basis small bases, small base hits you have like 15 small base hits in a row and then in one day of all, give all 15 days back. Yeah, the one that were talking on that day I was building my account back up. you know to small days consistent green days I had a nice day on that MSG and when I made that 900 move next day I got a little too excited and like you know what? Yes, momentum's coming. So like you know, yeah, you know most of us Traders know that oh, we're losing is part of the game and we'll always kind of aware of that in the back of our head.

but you know, a lot of times we don't realize that that could also happen. So I wasn't ready for a green uh for a red day and I was hurting vs when Msgm was going up and oh by the way people talk about the why did Msgm go up after their offering right? Well we'll come to that. Okay, but I was uh, trading vs and I'm like you know what next the first day after the momentum after a stock goes up hundreds of percent, this is going to go up. So I just sized in and you know it just started holding down and down and down.

I don't know why I was holding a loser in all these I don't usually hold a loser I'm really quick to cut off my losers but I kept holding it and before I realized it was the biggest, biggest red day of the year, you know, small steps and then boom, it goes down right? So I mean that's that's the game. The problem with that one was it was so much sympathy to Msgm. and so when Msgn had the offering, it dropped immediately on that same candle. and then it did halt up at the open.

but then it halted down one two, three, four times in a row. Yeah, I mean I I didn't expect that either. I was really surprised it went down that far and that was a Divergence because at the time Msgm was at the offering and I was thinking of Hudi this summer. So remember Hudi this summer? Yeah, they had an offering and it was at like 20 bucks.

The stock at the time was trading at like 200. it instantly drops to like 20 bucks and then it went way lower. I Thought Msgm was going to go lower because I was like oh, offerings at 21 but it goes from 21 all the way back up to 50. yeah, 49.71 yeah I'm still like 50 bucks I and I mean the offering was only 180 000 shares which I was kind of surprised they only sold that many but you know it was weird I don't remember if the hudi offering was like way bigger.

uh I think it was at 20 or something. it was similar price. A lot of shares right? Yeah so I'm just gonna pull up the chart here of hudi I mean this thing in one candle dropped from 160 a share and so the offering price was around 20 and you can see it didn't bounce all day. so that's when I was expecting would happen with Msgm I didn't think it was going to bounce I thought it was just done.

but yeah so yeah. but it bounced. it bounced really well and and yet despite the fact that that was bouncing vs which was sympathy to Msgm was holding down so it was like I did not I was totally and that's why I was holding it because I'm like look be you know the no one was expecting this and that's happening on Msgn and while we're seeing this, you know, a relatively great move. good news and everything vs.

okay two Hawks down. It's probably gonna just make up for it all together after just you know, halting again because we've seen this action in the market before and that's why I was expecting it. But you know, that obviously had to do that I broke one of our rules is you know, holding her Loser Yeah so and I got? You know that one time I break that rule I got paid for it. It's correct I mean yeah, you know what though I I bet I bet there's been some other times that you did hold a loser and end up coming back up and those are like easy to kind of forget about.

Yeah, I'm just like throwing it out there because but that was the time where it finally caught up to you and it, yes, that's a better way of putting it finally caught up to me. but I've done that too I mean I've I've had I totally. you know I've had trades where I get stubborn and I'm like why am I still holding this thing and yeah, and and that that for me I start to get that even a little bit today on celz because I really thought so you know this is something that Manoli talked about when we hosted our Summit he was talking about themes and So like um, yesterday we had SQL right? So SQL makes this epic move from 40 cents up to a dollar a share. and then at the open SQL squeezes up and halts.

It was a really nice halt. So I'm going to show people this chart so they can see it a little bit better. My computer's kind of like glitching out here because I'm broad streaming and recording and everything else. But anyways, um so it makes this crazy crazy nice move and so you know I treated it yesterday but I didn't do as well as I could have.

Did you guys trade SQL yesterday I did I traded in with you around two dollars pre-market Okay, and I've been before that. but I'm doing this thing where I don't trade the top gapper at the open I think that's like a terrible light. Well, you know what though. You know what? Okay, at the Open at the open of 9 30 we are definitely seeing Chop and that's when you either see continuation, it will hold up, maybe or haul down or read the green moves.

So I'm okay with you saying at the open as on the open after a minute I just I just need to leave it alone for a minute. Sure. Well so anyways, so so I thought we were kind of getting into this theme where these like kind of sub one dollar stocks that break over a dollar, you know, squeeze up because Celz felt really similar this morning and so when it was at a dollar 40 I was like okay I think this is gonna Gap I think it's gonna at the open squeeze into a halt if it breaks through 140. and so I just started buying it and I took a couple trades on it I was sizing that but like one yeah starter at 129, adding at 133 more, adding more 138 it hits 139.

It doesn't break, it drops I was like I'll just hold it because I I really think it's going to Gap and go and you know I ended up giving back um I guess I don't know maybe half of my profit on the day? not quite half but anyways uh I gave back some and I I you know just said well I was getting stubborn I was getting frustrated and I was like you know what? This is the spot here where it's time for me to walk away because if I keep trading now I'm gonna be get I'm gonna get careless and I'm just gonna say you know what I'll take 30 000 shares and I don't care if I'm down, you know, three grand Unrealized. I'm gonna hold it and I'm gonna wait for it to break or I'm gonna get flushed out and it'll hold down I'll be down six grand and it's much better to be up. You know, whatever I am today 1700 then you know, down down that much it's just not worth it. So 18 whatever.

but I don't know I'm just I'm I'm kind of so the last name. my wife um you know we're gonna go to Italy um we again this year and we've been going quite a bit and she's Italian so um you know she's been talking about uh you know we've sort of been a conversation of whether or not you know how how much I should be studied up on Italian culture. So we've watched stamber Tucci's you know in Italy stuff and that's been fun and then last night she was like let's watch Eat Pray Love and I've never seen it um I'm not caught up on all Julia Roberts movies. so I was like okay so we watched that and there they were talking about the expression of the sweetness of doing nothing.

it's an Italian expression but I don't know how to say it because I don't speak Italian and it struck me like I was like that's funny because this year one of the things I've kind of been thinking is like we're still in a bit of a bear Market I Want to trade every day I want to show up every day but I don't want to sit here for eight hours a day. and yes, sometimes when it's like you know I'm it's 9, 45 or 10 a.m and I'm like I'm done I feel I almost Guilt Trip myself to walk away like I'm so not my our culture is like at least in my view of it is like is so not being able to enjoy the sweetness of doing nothing. It's letting work, work, work, hustle you know? Okay baby and yeah and so like that's been really hard for me to kind of come to grips with because the thing with trading is that that mentality of like I need to even like out of stubbornness around a gill keeps sitting here. I don't think that that's really the way and I mean I don't know, you know I how many hours a day do you guys each trade like typically typically I've been going from lately Pacific time like six times, six fifteen up until 8 39.

So like two hours plus ish. Okay, yeah, I'm above the same day and I've had like hour and a half two hours back of the open. But I'm also learning though from last year. just like I mean I sat down for eight plus hours a day last year and I was over trading did myself deeper and deeper and I didn't feel good about it either, even for my green days.

I just felt like it was I was over trading just to get there and it just didn't feel like quality trading to me. So this year, I really putting that an emphasis on getting out early. The tough part though, is when there's really no momentum trying to leave early, it's like okay, well what do I do for the rest of my day? Yeah, I don't know I feel bored when I leave too early, so that's that's kind of sometimes. I give myself into staying though for that reason and neither do I find a hobby that's Max you're on.

you're an hour ahead of me so we're We're pretty early so like we'll be done in trading at eight nine in the morning when other people are maybe just going to work and we're like yeah I'll go to the gym I bought myself a skateboard a few weeks ago I've been trying to escape over I've been trying to do other stuff I was doing the numbers the other day I was um you know of course I people that work for me and stuff like that and I was like man, like maybe I should just do some of what they're doing. it would save me money and I was like how much would it actually save me and I'm like okay well you know thirty dollars an hour times eight I'm like 240 bucks God it's nothing and I feel tired I'm like training is it really does get you spoiled because like it's so hard to imagine working like eight hours that kind of hourly rate. So like the prospect of like either of you like Max or Danny like going and getting like a different job you'd be like why even bother it would say it would like not even move the needle. Yeah not to say there aren't other things you could do that might be more lucrative but that would require time like I don't know but real estate or something you know people talk about.

but come on, what about you? What's your? because you're on East Coast time? So yeah. so I um recently you know I've used the Gen lag to my advantage and I get up super early at 5am um at the computer about 6 30. okay, uh or seven a.m you know. um and so I so because I'm sitting early I usually leave around 11 o'clock uh or like 10 30 sometimes because I know right now that's the theme.

like 10 30 everything's dead and then or like I'm even starting like 10 15 ish everything just starts to die down and then it picks back up later like 11 30 12. but I'm not safe for that. So I'll four hours and then maybe half an hour to an hour later on so average four hours which is still a lot I think I need to bring that he's red on the year is someone's working, someone's putting in too many hours. you guys feel down to like two hours.

that seems doing a sweet spot you're working too hard for him on. yeah it's well. see. the thing is though for me is the uh, the fomo that I get when I see a big move that happens between 10 30 and 12 or between you know, whatever we look like.

Last week we were seeing some good moves between two and four and even after hours and Jess was like do you think you know? do you guys think we should be trading after hours or like afternoon I was like God I don't know but like I agree that there have been a couple of really nice moves cetx I think that one went from I don't know 7 to 15 or something and I think Rsls did an afternoon move and you know you see those you're like well they're definitely moves and I we someone was asking today about the moves that sometimes happened at 4am and they're like should I be getting up at 4am and someone else was like I'm telling you I I'm up at 4am I watch them. The spreads are huge, the liquidity is terrible I mean I really can't chase it. they're only good for waiting to short the reversal, but you know that's that's all they're good for and that still is risky too. So I don't know I how are you guys coping with missing some of those? no afternoon Wells Oh, telling me what you know what is a good way to stop having fomo or have less fomo is take a trade from your phone at the gym.

It had to be your biggest grad trade in. Jade that'll that'll help you want to do it so much I'm gonna teach you. come on, that's a that's a mistake. That's definitely and you know what? I'm really grateful Lightspeed You know which is the broker that I'm using.

There's no mobile app for it. Um yeah so I um you know I yeah I I don't trade on my phone I mean I do have a TD Ameritrade app on my phone so I have a retirement account there but I don't I'm not, you know and I just don't trade on my phone like trying to day trade I don't freaking Das has a mobile application. It's really good. Okay, well it's not as like it lags and stuff but like you know, the level two on it is is really good.

Yeah I don't know if you should tear down it and I don't I'm not. don't even tell people I pretend you guys just erase what it just hurt. yeah I'm I'm not gonna feel so it can be such a it can be such a hard part. but I mean over time pretty much every time I've given into Fomo yeah I've lost or more often than not when I give into Fomo on red on those trillions.

Yeah and eventually you get to the point where you're like all right I see this movie and kind of sucks that I'm not there. but like that's I could be read on it too like that's the ultimate. Yes it's so maybe I'll catch it. but like I I could be sitting in my computer right here and be ready for it I could still be read on it.

Yep, yeah so here's something that I do and you know part of the reason why I do sit a bit longer only just a tad way longer is that I want to watch the screen with everything open I just practiced this for myself I don't know, it might not be helpful for most people I probably wouldn't be but I just watched the screen ad do I practice not taking a shirt yeah I just sit there and I practice. you know just being present and being okay with you know everything being open because I feel like that gives me more control than just me walking away and just you know dashing out of here and then next day I see something I feel like that gives me more phone with sometimes I have to be just okay with it that you know I'm here I'm done. you can climb up another 100 percent whichever stock you are and I will came with it not taking you I think once I started doing that that has given me more so that calmness and just be. you know just being present there I I admire that I find myself like with Msgm as it was going higher and I was and I didn't trade it so I was like I'm an exercise discipline I said I was gonna get back in I said I was done for the day I'm gonna be grateful for my gains and not trade it but as it went higher I started finding myself getting more and more frustrated.

I was like God damn it it just kept going higher and higher and I was like are you serious I just watched this thing go from 950 to 25 a share. Yeah, like I wouldn't be able to do that. you know that so that's where and then and I didn't trade it but then the next day I was like so kind of like I was just ready to fight and I fired hot. So like I don't know I I maybe I need to work on that and that's it might you know.

I clearly wasn't able to fully accept you know sitting and watching it I was not okay with it I wasn't yeah I wasn't there. but yeah, that's something. Yeah well. One of the things that I've found really interesting lately is I track my trades and Trader View and um I've been trading for over three years now, so I don't always get the most insightful data on like things I'm really doing wrong or right at this point.

like it's pretty pretty consistent and standard. But what I did find recently was um I didn't read constantly on stocks that moved 500 percent the previous day. if I try to trade them the next day I'm red. That's interesting.

So yeah, it's like expecting continuation or I guess maybe like having expectations like right now we're not really in a continuation type. Market Um, so one thing that's been helpful for me is I TR I Just try to find something new. like when we've been looking at the same stock for a week. I'm like I don't want to trade this anymore I Want to find something new and usually something does pop up.

It might take a few days or um, one thing that's helped me with Fomo is like just the realization there's going to be another move. Maybe today, maybe tomorrow, Maybe next week. There's always going to be more moves I don't need to get this one. Um, you know just being patient and waiting for the right move to trade is the right thing to do.

It can be hard see I I I know about myself and I'll put my metrics up here for people that are watching this video. So basically for me, um, 90 plus percent of my profit is on stocks that have 500 times higher volume than the 50-day average. But I would say my profit is a bit more split between the volume today, which is the highest and the volume by the prior day. So I have a lot of stocks that.

So basically to explain the majority of my profit is on stocks that have also five times higher relative volume than the previous day. But I have about um I don't know so that that's the that's the majority but then like right behind it there's a they have uh about three million dollars of profit. So like 30 of my profit is on stocks that have 50 of the volume of the previous day or less. Which means they're lower than the previous day.

and those are continuation days. Yeah, so like I So thirty percent of that 10 million give or take is on continuation days. and then you know. so I kind of have that inverted um bell curve I Guess where I've got a lot on the low relative volume versus previous day and a lot on the high versus previous day.

but both of those are still five five times higher than the 50-day average. So yeah, that continuation stuff I I find that I personally can do well like on day two, but I do have to be careful getting into like day three day four, day five. keeping up going back to the well because that's when I sometimes find that I'm going too far. but um, we're We're coming up about an hour.

So I'm thinking, why don't we end this episode Um, if anyone has any closing thoughts and then if you guys enjoyed this who are tuning in, we can do this again soon. Uh, so any closing thoughts on game plan for you know, the next couple weeks ahead. Me: I'm just keeping my head down. um I'm doing well I'm gonna try to keep doing what I'm doing.

Um, the main thing I think it's doing well for me is just being really patient to try to get the entries that I know or at least think are the right ones. Um, so I'm just gonna keep trying to do that. Keep cool, keep ahead and keep in mind Lane call to my plan Max Yeah, pretty much the same thing as me I mean I look like I want to continue to be done super early and not stay for the chat and get myself caught up in something that I don't like to be trading? Um, and so far I'm not a great start too. So I just want to keep and keep your train wrong and not really get caught up on what I've been doing and have expectations.

so just as long as they're consistent and then following my discipline. yep, among what about you? Yeah, I would say you know being okay with that red day, that if it, um, if and when it comes inevitably and just trying to keep it small instead of sitting there longer and longer to just dig myself deeper I think you know that's that's for me and I'm sure it's going to help a lot of you out there. Cool, Right on. Well thank you guys um who have tuned in for this episode.

Reminder: As always trading is risky and our results are not typical so take it slow. Whether you practice in a simulator, you trade on what let's see what do I usually practices simulator, before you put real money on the line and whether you trade with me or you trade on your own, remember that trading is risky all right. I'll see you guys for the next episode real soon.