Foreign. Good morning everyone! Well, it's uh, top of the hour 9 A.M So we're gonna start the morning show here on YouTube Thank you folks who are tuned in already and who have already hit the thumbs up! I Really appreciate that. So this morning is a particularly slow start and yesterday I wasn't super surprised that it was slow because uh, as I indicated yesterday I seem to be in a little bit of a, um, a habit of having a rather big red day following a long weekend. And that's because the day after a long weekend can be slow.

So that seemed to be the case this morning. and um, when I sat down uh, was the case yesterday and this morning it also seemed slow. So it seems to be the case that right now we just don't have a ton of momentum. uh, we're sort of in between big momentum stocks you know, we had, uh, obviously, uh, some bigger movers in April and then in early May.

but the last couple weeks have been really slow. which is kind of a bummer. I Was hoping uh as I brought back the morning show that there would be a little bit more, um, action, a little more excitement. but anyway, it's just the luck of the draw.

It's like doing a small account challenge. You know you could just have the timing that you start a small account Challenge and it's really slow for those. Uh, that first week and you know trading is hard enough, but sometimes luck is not on your side. so if that's the case, it is what it is Can't force it, you just have to be patient.

So right now we're in a little bit of a grind. It's slow. I'm reminded last year of the fact that my best month of the year was in August a month that typically I expect to be very slow. historically August and September are slow months for me, but last year August was my best month of the year in September was great too.

So you know I was pleasantly surprised by that and it gives me hope that you know I should keep showing up every day because you just never know. You never know when you might get a stock that makes a big move. ends up giving you some great opportunities. in the middle of a slow patch.

you can all of a sudden have a stock that takes off and the fact is it really only takes one trade a day. We think you know like very honestly about what our goal is here. When I started trading, my goal was to sit down and try to make 100, maybe 200 a day. I wasn't trying to get rich I was just trying to pay some bills.

just make enough money to pay a couple of bills. And so you know, 100 200 dollars that's 10 cents with one thousand to two thousand shares. So all we really need to do is find one or two opportunities each day where we have the potential to capture maybe 25 to 40 cents and we'll be grateful to take 15 to 20 off the table. Thank you! So anyways, um, it's about 905.

we've got 25 minutes to the opening bell and um, at this point here I'm Well, why don't we go over the scanner? why don't we look at the scanner and I think that'll help us get kind of oriented. Um, you know, with uh with what's what's moving this morning? So Wlgs All right. this one's our leading gapper. It's at 48 now.

48 is not a not a huge gap. Uh, but it's up 48. The high here is 228. It pulled back a little bit down to 202.

bounce back up to 222, back down to 207. I Guess we could kind of draw a little bit of a uh trend line here right right around there so you're kind of near ascending support. Um, the only thing that I would say is that if we look at the level two on this Wlgs, you can see it's really stacked up. see how stacked up that is stack of sellers.

This is going to be a very thickly traded stock. This isn't going to be a stock that really moves too much. I mean I know it's up 49, but that's probably because it's so cheap. uh I don't know I I'm I'm a little bit.

uh, and now you've got a crossed Market you've got a seven seven there. I'm a little bit. unsure about this one. I I Just think that you know.

I I Sort of have my minimum price of two dollars. This is above that technically, but it's awfully cheap. I I Just don't think this is going to be a big mover. So I think the problem with this is you'd have to be willing to buy it and just hold it for a while.

You know, because it's probably going to be a grinding stock. So if you have the patience to buy and hold for a while, then by all means, if you don't, this one might not be the best one for you. That's my. that's my two cents so far on it.

Um, so I feel like my desk is sort of a skew? I Don't know. I'm gonna have to try to get this reoriented here at some point. Anyways, Um, so Wlgs, Mrkr is the second leading gapper. A float is 6 million shares.

I Didn't mention the float. on Wlgs, it's 15 million. It's got five six million shares already, so you've got almost one time. Uh, you'll have half float rotation.

You'll have one time flow rotation for sure. Today it's gonna have a lot of volume. Uh, but I Don't think that's going to be able to overcome the I don't know market makers are on it. So Mrkr, it's below volume weight average price here.

So again, you know it's not positioned well and that's not including the issue about price. It's too cheap. but um, it's also below. V Web Lumber Liquidators LL You know this is this is not something that I would be interested in trading.

I Usually avoid the stocks with higher levels of institutional ownership. uh I I tend to find that they grind more and I think that there's more algorithmic trading on these types of stocks, which makes it kind of like trying to play chess against the computer. So unless you're willing to again, just kind of. Buy and Hold I Think these are going to be difficult for short-term breakout trades of any kind.

Trvn uh Mark just popped up above Trvn mark. Have traded this one in the past as well. It's got a 13 million share float. It's a lower price stock doesn't really make big moves.

not interesting Trvn lower price stock. so the top five gappers are all I mean they're all really at this point. I'm like, not interesting. They're either too cheap or floats too high.

we don't have the right combination. and I know I Sound picky here, but uh, you know being picky is. well. I guess it's how I've been able to make over 10 million dollars in net profit.

you know, in a hot. Market This is the thing. This is something actually kind of interesting here in a Hot. Market You can definitely reduce your quality standard because you'll notice that just there's just so much positive sentiment that it seems like everything is going up.

I'll try I've had I had days in the hot Market where I had like 15 stocks I traded I'd be green on 12 out of the 15. you know the accuracy was phenomenal, but it's the opposite is true in a colder. Market You know you start getting that aggressive in a cold. Market You're going to be red on most of these stocks.

Um, uh, now you, You could. You could certainly short. However, we need volatility to be profitable in a serious way. and if we don't have enough volatility then whether you're long or short, it's going to be hard to be particularly profitable.

One of the challenges during the cold Market is having the discipline to be patient because when you start feeling desperate, you start feeling Restless you start feeling like man I haven't taken enough trades I'm not hitting my daily goal or my weekly goal or my monthly goal. You start forcing it. You start forcing it. you.

You're going to reduce your quality standard because you're You don't see anything you like. So you force a trade on something that's a little lower quality. What's going to happen? Your accuracy is going to decline. Then you have a couple of big red trades during a cold market.

Now you start to get frustrated, You start to push harder and you dig your the hole deeper. So you know this is how you can start to go on these downward. Spirals And it's an area where emotions can amplify your profit loss swings. So emotions during a hot Market confidence excitement.

You know those can fuel profitability if you get more and more aggressive. but while maybe in that instance, those emotions can help you maximize opportunity and make more money, the same is true during a cold. Market The emotions of frustration getting the better of you. All of a sudden you start averaging down, buying more and more shares.

You know the next thing you know your drawdowns are getting Amplified because of emotions as well. So anyways, be aware of that. Um, this morning I'm just a little disappointed that we don't have a better looking Gap scanner. You know we have a couple of stocks that are up a good bit.

you know, 46 30 but it's not as much as what I would like now. I do have my audio alerts turned on um for my scans here. So essentially you know I could go walk outside I could go do the dishes I mean I could do anything really. As long as I've got the audio alerts on and the volume turned up key, then you know I don't need to sit in front of the computer screen now I will of course because you guys are all tuning in and you want me to be here.

But but for your sake, if you want to get up and walk around and stretch your legs I Wouldn't blame you because there's nothing really particularly exciting happening right now and you don't want to get that Restless boredom of I'm just sitting in the chair I need to, you know I need to press a button and then next thing you know, you've taken a sort of silly trade. So one of the things that I'll do and I have the benefit of doing this is you know I can go um, respond to some comments on YouTube you can go check some emails I can you know take a couple of phenomenal pictures of myself and post them on Instagram You know I've got things that keep me sort of busy so I can stay here in front of the computer um, and uh, usually prevent myself from making a catastrophic stake Sudoku Yes, that's a good one. although I find that the complex, the challenging puzzles. um I don't like to have to take a break I'd like to finish it before I you know you get your head.

you start to get in the zone there. it's really keep that focused. but anyways, um, let's see. So oh yeah, and today is the last day of May So um I would say some would argue Memorial Day marks the beginning of summer so welcome to the beginning of Summer We've got the month of May wrapping up here today and it we had a good start and then it cooled off quickly.

You know some of the uh, some of the drama with the debt ceiling and blah blah blah. you know it's always something, but um, that weight on the overall Market a little bit we still have the recessionary fears and this and that the AI stocks that gave us some good opportunities earlier in the month kind of cooled off here towards the end of the month. So a year ago today I was in Martha's Vineyard doing a Martha's Vineyard trading challenge which was, uh, a pretty good success as I recall I was I remember finishing it feeling a little frustrated I had I don't know like I was a 10-day challenge I had like nine pretty solid days I think on the 10th day I gave back almost all the profit I'd made in the first nine and I was pretty disappointed I came out of that feeling like I needed to step off of the emotional roller coaster that can sometimes be trading and I decided uh to go into the summer and this was this is last summer into the month of June or through the rest of June trading very conservatively so I remember setting a Max position size for the month of June and I Also, um, adjusted my Max loss and then what ended up happening was uh, let's see going into June I'll grab my calendar here of last year I ended up having um kind of a a slow finish but then I had a really good stretch pretty much from you know, this sort of Turning Point around June 20th and these were a couple no trade days I just said you know what I'm not I'm not if I don't see something I like I'm not going to take any trades at all So this marked I think the end those two red days of my Martha's Vineyard challenge I was super annoyed. Came back the next week, had a decent week but felt like I was still trading aggressively.

Had a big red day here and then I was like you got to dial it in, dialed it in and then proceeded to finish the month with six green days went into July began a nice green streak, had two small red days only three thousand dollars red in those two days and then had a really nice finish to July and then we went into August which was my best month of the year last year and no red. August finished with 180 000 in profit in one month. So that's how um, you know and that's that came out of a um you know came from. you know, having a sort of real frustration losses and then being like okay I need to turn this around and uh yeah, that was a great month and that September was really great too October cooled off a little November was cold, had a bunch of no trade days uh but you know it was green December was a little colder as well and then you know that takes us into um into this year.

So anyways, um yeah I just uh. it just reminds me here as we're coming up to this similar time of year. So sitting at about 12.1 million in Gross really would like to improve my profit loss ratio a little bit. But go take time to do that a few.

um, a few. uh, bigger losses for that ratio for sure. Okay, so it's about 9 18 so we've got a little over 10 minutes to the opening bell. The Gap scanner is more or less unchanged.

We didn't get any. Um, we didn't get any new new headlines here in the last few minutes, so we're uh, gonna have to be patient. Whoops! About 10 minutes to the opening bell. Thank you the those of you who are tuning in on YouTube for the morning show.

We brought back the morning show to celebrate our anniversary here on YouTube it's the 10-year anniversary and when I started uploading videos to YouTube So I want to do something special for you guys and bring back the morning show here for a little bit. So thank you guys for tuning in. Really do appreciate it. Thank you for hitting the thumbs up! Thank you for sharing this with some friends and I Hope you find Value in this.

I Wish that there was a little more action. Uh, you know, but it is what it is. You know you can't. You can force it.

Uh, you most likely lose money if you force it, so it's better not to. So Greg is curious about my accuracy percentage on winning days versus losing days? Sure, so let's let's take a look at that while we have a few minutes. So um, let's see wind days versus losing days. Um Okay So accuracy on winning days is 72 percent, Accuracy on losing days is 52 percent and you know it's certainly it's worth asking yourself.

and this is a very tricky question. Um, you know, at what point can you at what point can you realize it's going to be a red day and stop immediately because aren't there? Of course some days that go red but then finish green. So that day ends up moving into the green category here of a winning day because I finished green. But for days that go red and then stay red, the accuracy is 52.

So that is a substantial difference in accuracy. Now, if we look at um, average winners, average winners are smaller. Instead of being 1500, they're 1100 And average losers are like almost three times bigger from minus Eleven Hundred to minus three thousand. So those average losers start to get a lot bigger on those red days.

Uh, but this is all this is. You know a huge question of how can you anticipate Is it is there something in the data and maybe we need to harness AI for this? But is there something in the data that can tell us sooner what's going to happen based on statistics that you know if you have these three things happen, you know you go down this much or you have this big of a loss, you've got a 90 probability of finishing the day. You know, twice as red as you are right now, so this is your friendly reminder to walk away. but it would take a significant amount of um of thought and careful look into what some of those recursor um signals might be of knowing when to walk away.

But I think it's probably fair to say that um I should learn to walk away a little sooner. but at what number exactly I don't know. And like I said, you know you've got these days where you do go from red back to green. So and by the way, for those of you guys tuning in on YouTube, you're welcome to come.

Uh, check out I Put a link here where you can download my technical analysis series and my Gap and Go strategy. so I'll paste that again here. Check that out. for those of you guys who haven't already, you can learn a little bit more about my strategy there and the mentoring that we offer at Warrior Trading.

And for those that are interested and I know there's some that are interested just in tools. You don't want the classes because he took you know normally to see my stream you've got to be a member of Warrior. You got to be a warrior starter or a warrior Pro member. So Warrior starters a thousand bucks Warrior Pro is over 5 000 depending on annual and this and that.

We do run discounts and specials on it, but you know this, it's more expensive and uh, in any case, some people just want the tools so we use. All of our students have access to this day trade dashboard here, but you can subscribe to Daytrade Dash if you'd like. It's 197 a month and that'll give you access to charts, scans, news, and there's a chat room there. It's a separate chat room from the warrior chat room.

Uh, if you would like to add on my audio video broadcast, you can add that on for an additional 100 a month and then you could cancel that portion of it anytime you want so you can. You can decide, but that's 197 a month. Now you know some people say, um, how did you make it so cheap Uh, other people say 197 a month is expensive When I was, uh, getting myself situated with trading I was subscribing to Charts for about a hundred and seventy dollars a month just for charts. That's it.

It was just charts 170. I was subscribing to scanners for another 200 a month I was subscribing to various new as Benzinga for another hundred dollars a month. News: Services The next thing you know you've got, you know, two, three, four, five, six hundred dollars a month. And one of the things that I wanted to do is to build all of the the tools that you absolutely need into this, um, one platform.

So that's what you guys have access to at Daytrade. Dash Um, so right now I uh I haven't taken any trades because I don't see anything that I like. So I'm just being, um, just being patient. Uh, if you go into profile here, you can change your settings.

Um, let's say hashtags go to quote website. So if you turn this on, then clicking here is going to load the quote on the website and if you turn it off and I have mine turned off, then clicking on this will update your charts right here because these are all linked together. Now these charts and these scans don't link to outside platforms so it doesn't link to like a TD Ameritrade account or you know, to your broker. but they link internally and you can link them out to your pop outs too.

External browsers or monitors. Foreign? Okay, well uh. we've got about 90 seconds to the opening bell. Oh yeah, all right.

So with 30 seconds to the bell, I will end the morning show for today. but I'll be back at it again tomorrow. So thank you guys, uh, for tuning in. We're kind of with a bit of a no watch list this morning, but we'll see, uh, what stocks start to squeeze up during the opening range, so we'll be watching the opening range carefully.

All right, Thanks as always for tuning in. I'll see you guys first thing tomorrow morning.