What's up, everyone? All right? Well, Today red Day recap. In fact, today is the biggest red day that I've ever had. As of today. Perhaps in the future I'll have a bigger red day.

But as of right now, this is the biggest red day I've ever had. I'm not happy about it. Um, I'm gonna kind of talk you through my how I'm feeling, my kind of initial gut response, my reaction, how I'm going to sort of, uh, pivot, adjust, start to rebuild the account. It's the only thing you can do traders.

We're resilient. We're going to talk about that during, uh, this, I guess red day recap. which is kind of. But this is all.

It's a red day recap. But it's also very specific to the emotional challenges of trading and, um, you know, recovering from, uh, from loss and everything else. So yeah, it's a it's a tough pill to swallow. It's not fun, but I have gone through so many of these cold streaks that I know out of every cold streak opens up the next hot streak and so I just have to get through it.

I have to not feed this downward spiral by being more and more aggressive and getting more and more emotional. and I should have stopped sooner. And I probably say that every single time that I have a big red day. but this is where I'm at right now so my only focus is just trying to have a good day tomorrow and be focused on better quality trades and just to slow down a little bit.

So I really hope you guys enjoy this. Please hit that thumbs up for the Red Day recap. I've got my biggest green day I've ever had on Youtube and this is the biggest red day I've ever had. So you know this is the real journey.

Trading is not easy trading, even for someone who's been doing it for a long time, can be very difficult. It is a sort of emotional game more than sometimes anything else, but this gives you a little bit of insight into that journey, so I hope you guys enjoy it. And um, make sure you please hit that thumbs up and subscribe if you haven't already. All right everyone.

So um, today is a red Day recap. I am, uh, this is actually the biggest red day of my career. Um, so I felt like I needed a little help from a friend. Hey buddy, are you up there up man? can you see me? I can see you? No, you're not.

You're not getting it. He's he. doesn't see the video there. He is there.

he is. Hey, is that it There you go So you know I? Um, I'm I'm kind of bummed out. Um, well let me show you my P L. I'll show you guys where I sit So I'm down.

Fifty seven thousand, five hundred, seventy two dollars and fifty Eight cents. You can see I'm read on one two, three, four five, six, seven out of eight stocks. So just across the board, Red. and then in my main account, I'm also down eight thousand red on two out of the three stocks there.

So basically today I have well, 57 57 plus Um, plus 8 is 65 000 in the red, you know? But plus commissions. it's going to be A it's going to be the biggest red day I've ever had. Um, I the biggest red day. The biggest green day I've ever had is a recap on Youtube.

You know. I I recap the big Green days. I recap the big Red days. obviously.

Fortunately, Uh, my biggest green day is much larger than my biggest red day. That wasn't the case up until this year. Uh, about a year ago, my biggest red day was 30 grand and my biggest green day was like 41 000 or 42 000. And the green days have definitely gotten bigger in the last.

Um, you know, the last year or so. But right now as I sit right now, I'm sitting down on the month. This is actually the worst start I've ever had to a year. This is the worst year I've ever had so far.

If the year ended today, this would be the worst year of my career. Um, but fortunately it's only January 12th, But it is a bad start. It's not a great start and I feel defeated. I already did a recap where I was down 40 000 and then I came back and I took a couple more trades and now I'm down 50.

Well, 65 000. So I thought maybe as part of this recap kind of talking it out. One of the things that's helpful for me is, you know, for Jess, you know, member of the 100k club has made over a hundred thousand dollars in profits trading. So I know that if there's someone that I'm going to vent to, it's always helpful to vent to someone who kind of knows what's what it's like.

Who knows what's going on? Um, you know. As much as I could call my mom and say mom, I had a bad day today. She's she's You know she's not. She's not gonna understand.

Oh my gosh, you lost sixty Five thousand dollars. Wow, you could have bought a lot of things with that and I'll say yeah, but you're right and you know it's it's not going to go super well. She's not. She's actually going to make me probably feel worse without even trying without meaning to.

but just because you know she doesn't know what to say. And so um so Jess here I am. Biggest red day ever. I'm I'm bummed out.

not you know. And let's so one of the things that um I would say is let's Stop. So we're going to use the acronym Stop Stop. Take a breath, observe how I'm feeling.

I'm I'm angry. My heart was racing a little bit earlier. I was I took a couple really big positions. Uh, 30 40 000 shares.

I was holding them up 10 000 and I wasn't taking the profit because I needed to go up a dollar a share to really make a difference. Then it came back down to break even and I was like oh god if I if I hit the bid here, I'm gonna get slippage. Then I'm finally hitting the bid getting slippage and a ten thousand dollar winner turns into a ten thousand dollar loser. So and then p is perspective.

So the big picture here is Um, this was my month of December where I I finished up about 600 grand my gross profit for December. Now you might think that this is bragging right now, but this isn't bragging. This is part of perspective. And it's always important to put perspective around your losses.

So 740 000 in gross profit. My net profit after fees and commissions was 650.. So being down 57 000 in one day or being down what is now a hundred thousand or so on the month, uh, in fact, given the perspective and the context is actually, um, could be worse, it could certainly be worse. Something that I used to do and how many of you guys can relate to this? Um, what I used to do is every every three to four weeks I'd have a red day where I'd give back everything I'd made in the last three to four weeks So you know I I would have been averaging maybe 200 a day or 500 a day.

for a month. I'd be up like four or five thousand and then in one day I'd lose five grand. I'd be back to square one. Has that happened to? Yeah, you know I've done that.

I've done that plenty of times, especially when I was just getting started. You know I'd hit those like two hundred dollars. Two hundred dollars. I'm like wow, I'm on a roll.

Two hundred dollars. I'd start racking them up and be like I'm I am The man. I got this. Yeah, you're on fire and then you know I get smoked.

Just everything plus some. I'm like how am I going to recover this this 8 000 loss Like I just I thought I was doing good. What happened? Yeah, and and and the the the realization in that moment that to recover that loss is going to take five weeks of impeccable trading At 200 a day uh or whatever it is, sometimes it's the next day. What's even the point? Why even get out of bed? I'm so emotionally destroyed.

Why even why even bother? You know, like what's what's 200 a day when you've just lost 8 000. So tomorrow I feel that that so right now. so sort of. The topic for this session is, um, kind of just a stream of consciousness about the experience of having a really big loss.

Whatever that might be for you. Maybe for you, it's not 60 thousand. Maybe that's just me. Maybe maybe for you, it's two hundred thousand.

Whatever the loss is, it's a big number where you're feeling upset and you feel like you've just made a mistake. This is a, uh, a recap and a session that will help you. We're gonna be talking about, uh, the experience of the loss. We're going to talk about the process of rebuilding.

We're going to talk about the importance of resilience because traders We are very those who certainly are successful and those who are on the verge of success. We're very motivated people. We want to make this happen. We have a goal which is to be successful traders and we refuse to give up.

And that's why we keep coming back day after day after day and even in the face of having just had big losses. So you know I'll be back tomorrow. But the question is, how do I trade tomorrow to not just continue to fuel a downward spiral? Because sometimes if you have one big red day, you can have a second big red day because you're trying to make it all back or something like that. So so we kind of started.

I gave you that acronym of um of stop which is, um, a good one for stress situations That maybe you've already heard of it. But um, so stop. Take a breath, observe how you're feeling, and then get perspective. And perspective is also not just the perspective here of like the context of.

You know, while it's true that this is the biggest red day of my career, what's also true. It's also true that last year was the biggest green year of my career. It's also true that I made 5 million, a little over 5 million in gross profit last year. It's also true that I have been on a little bit of a red streak.

It's also true that I was a little too aggressive today. So a lot of these things can be true at the same time. It may be true that I feel like an idiot, but it's probably not true that I am an idiot, you know? So it's kind of keeping these things in perspective. uh, and not wanting to beat yourself up too much and and then usually what I do after something like this is I kind of.

um, one of the things that usually helps me feel better about the loss is to step back and ask myself where did things go wrong. So I think I'm going to do that with Jess and kind of talk it out a little bit and that'll give you guys a little perspective of where things went wrong today. So my very first trade today was on. Let's see, actually my first trades were in my main account and my very first trade was a small winner of 886 dollars with 1 000 shares on Actc.

I bought it at the open as you might recall and I had kind of said you know it's the leading gapper but um where's my Gap scan It's the leading gapper but I'm not really sure. the floats a little higher, the price is a little higher. it's a special acquisition company I don't know, but it was squeezing up pre-market and so as soon as the bell rang I jumped in with a long of um let's see in my retirement account of a thousand shares at Um 20.49 and I sold for about a dollar a share of profit most of it. So I made 800 bucks in my first trade.

My second trade I jumped in Capr and this was at the open. It had dropped and then popped back up and I got in to anticipate the first one-minute candle to make a new high. I was long at 590. Now if we look at this chart here, um it didn't Even the first candle didn't even make a new high.

So I was long and it immediately dropped and I lost 3 200 bucks on it. I was anticipating the break over six so I was getting in a little early but then there was that wall there at 590 a big seller. I gave it a second, it dipped down and then it was. It just dipped more.

It didn't. It was just immediate rejection. So I cut the loss and with that I was. I was right on the day realizing at that point that I was down 2400.

I was like oh, I'm in my main account, not my retirement. I'm going to switch to my retirement account because the retirement account is tax-free So I switch to my retirement account. And my first trade over there was getting back in Ac Tc and on that one on my first trade back in it I had a small winner, a negligible winner of like 300 bucks. that was.

As it was squeezing back up, it looks like uh, right in, right in here. He started squeezing back in, I got in, I got out, it was showing strength. I got back in, I got back out and it halts going up. So you know a couple nice trades but not big money because I was afraid of holding because I was chasing it.

You know what I mean Like this is and this is kind of the problem that recently it feels like if you don't jump and chase it, well it you miss the trade because the only trade here was just kind of a chase a rip and then it just faded. So I chased it. But then I added back and when I added back I took a good size loss on it. Uh, I think the loss was, I don't remember how much it.

was. but it was a good size loss. So with that I was down maybe 9 000. On the day I was going, Red K-u-k-e was an ipo.

This one I wasn't really watching that I didn't even realize it was ipoint today but it halted going up. I bought on the resumption, made eight thousand dollars as it squeezed up into the second hall, tried to buy the dip on resumption and gave it all back except for 1500. I mean you look at this dip and it really just came all the way back down. I was actually holding into a halt going back down.

Um so two halts up and then one hulk coming back down. It just could not. it couldn't hold up. So at that point I was down.

uh let's see that. So at that point I was still down around like I don't know 8 000 or something. and then I had dlpn this one I jumped into to anticipate the uh, the squeeze right here on this pullback at 70. I think I bought like 10 000 shares right here long at 70 or something like that, maybe 80 or 90 even and looking for the break of five.

Not a great setup, but the thing on this one was it halted up, pulled back and then as it ripped through the highs I thought I was like this looks like it might go through five and then into another hall, but it it just petered out So it took a five thousand dollar loss on that and on that one I kind of. I took bigger size on it. It was 25 000 shares, lost 20 cents. So 5 000 loss and then on this one when it came back up right here I got back in it with 30 thousand shares right there At five it rips up to five thirty.

I'm up Thirty cents on thirty thousand shares. That's nine thousand dollars. It looks like it was gonna halt going up and I was like good This looks great and then in this candle here it drops to 480 and I'm down. I'm down six grand and then it goes sideways and I stopped out on this candle right here for a fifteen thousand dollar loss.

Why are you laughing? You know that I had that same this this everything you're talking about was me yesterday. You know not to cut in your your recap but you know I I started the day out, I had some issues with my broker, you know I couldn't get out of the trade so I was instantly read once I once I got back in action right? like all right I can recover this. I I've done it before I could do it again. Yeah, everything that I bought instantly went the other way and I'm like all right, there's no way that this is this is actually happening.

You know I'm I, I think I'm a good trader. I, I, I think I'm doing the right stuff. you know. And then I just started.

um getting that emotional fuel of you know I'm jumping in this anything that's popping up. I was like I'm jumping this. It has to go up right and it just everything just went the other way. Yeah well yeah, and that's that's kind of what happened.

You know after the Dlpn trade I was down. I think around 30 grand. Uh eng. It was a very similar type of thing.

I took a trade on it at um. seven. it was. it was actually where was it? Um man, this thing.

Where was this. um now I can't remember where it was, but I think it was. it was either here. Yeah, no, I thought it was here.

and then what was the low here? 68. I feel like I might have stopped out on that candle before it came back up. I don't feel like I was holding into that move back up. So I was in here again.

30 000 shares. Now I'm every trade basically taking with big size because I'm trying to recover another 9 000 loss. Qli this one. So on this one look at this man.

this this goes from it halts up on an ipo, halts up a second time. I miss the resumption because it was halted here for like an hour and then it re a long time. It resumes, halts again and then I pulled it up and I was like i don't know and it resumed and went right into another hall and I was like ah I missed it. resumes right into another hall.

okay I'll watch the next one right in, another haul and then on this one. Here you see that that candle, it dipped and so on that candle. I actually bought it at fifteen dollars and ninety cents which was a really good entry. It then halted up at 7, 16, 17, 16 and gapped all the way to 22..

So I was up. Five dollars a share on 3 500 shares. That's 17 000. I bought 6 000 at 22 at high of day and it looked like because the thing is on this candle it opened, it dipped down for a second, the high was 22 and then on this red candle it curled up.

It looked like it was to break 22 and then I was thinking 23, 24, 25 and then it halted down at 17.99 Thank goodness. With 10 000 shares my average was 1968. I hit the bid at 1837 around there and I lost 12 grand. if I had not gotten filled.

On resumption it went down to 14. it hit a low of 12 bucks. With 10 000 shares that could have been a 70 000 loss. It curled back up here to a high of 16 but it never recovered So that was.

um that was not great. that was not not great at all. Um and you know the the 10 second chart on this you can see the dip where where I got long. the setup is not that different from one that I would have traded last month on uh, Spcs or Acy or some of these others and ended up being in with 9 000 shares.

Then it will halt at 24 and potentially a 70, 80, 90, 000 winner. But today just it didn't have the steam. it just couldn't do it. It did a nice dip and I should have just taken it all off the table.

but it the fact that it dipped down and then surged back up is bullish. And then I think what happened here was there was just a huge market order. Someone just I don't know sold a huge position and it just boom right into a haul down. So that was um pretty bad.

So then I was down 42 000 or something like that. I don't remember exactly where I was. I had another trade. I did try one more trade on it for the break over volume weight, average price and I lost on that one.

Again, that was in my in that account and my last trade was on Actc. so on Actc. This one is, uh kind of disappointing to see it's up this much. I bought.

um let's see we had a consolidation here and I had first a quick trade over 2130. Uh, was it 2130? I can't remember. um I can't remember. Maybe it was 22-15 A quick trade here up to 23 and then I bought the pullback at 23 and I bought it with 38 000 shares.

So this is a big position of a higher priced stock and I'm in it. It pops up to let's see what was this. Um now I'm trying to remember no no I think it was at sorry. The spot that I sized up on it was for the breakthrough.

the High A day. I had a bunch of trades on it um through the whole day but the one that got me the worst was um it was. It was this one. right.

Here it was. it was right in here. I was long right here for the break through the highs for a high day break the high a day you can see was right here. I was looking for continuation through 2338 and um you know I mean we're talking about a pretty big range on this and I sized up and I added too high it comes up, it couldn't break through 24 then drops down.

I stopped out down here I think it was down here and you know I was like all right that's it. You know I'm throwing in the towel and then you know now it's up at 25. So I think that um, as I look at my trades today, you know I feel like I, you know I was chasing a lot and I'm not looking at a lot of these and being like wow, That was a really solid entry. And then you know the ones that were solid entries.

Because I was in this kind of just aggressive mindset, I would be in with so many shares the second it hesitated, I would just get out and sometimes be cutting a 20 cent or 30 cent loss only to see it bounce right back up and then what do I get back in? So why today did I kind of let myself start just trading these poor quality setups and just start getting so aggressive? I would say that the feeling for me today was a feeling of frustration and a little bit of maybe desperation. I have had a you know, obviously a bad start to the year as we sit here. this is very early in the year and for context I was read in January of 2020 and I still finished the year up 5 million in gross profit and I was read January of 2020 right here. So but you know I am red and I actually haven't had two green days in a row.

I was green and red, then green, then red, then red, then green. Yesterday I was like yes, finally, thirty thousand dollars. I cut the losses on the month and half and today I think the thing that was upsetting me was seeing stuff moving like Actc and Qli and Dlpn and being super annoyed that I was missing it. And then when I was getting in it that I was losing.

You know, I was just like this is unbelievable and then getting more frustrated and trying to jump on anything that was moving to try to recoup losses. And just all right, I just got to rip a couple quick trades. You know, 20 000 shares, 20 cents here? 30 cents there. That'll get me back to break even on the day.

Next thing you know, I'm taking a 50 cent loss of 20 000 shares and I'm doubling. I'm going from down 10 on the data down 20.. And I did recover from down 20 to down only 5. And then I went right right back in the run.

So I don't know. Yeah, it's I think it's It's always important to know. You know when you're kind of in that, um, that that downward spiral when you're like, all right, I'm grabbing this grabbing at this grab at this, that number one is is having the ability to realize that. yeah, you know, and it's I think that's what's kind of nice about.

like the chat room, It's like all right, yeah, like hey, like why are you trading that stock or um, you're below your max loss. You know why you're still going, You know, we kind of keep each other mindful. Um, but it's also good to hold yourself accountable. You know that when you're breaking those rules and you're kind of grabbing at different stocks, and like you said, you know you're You're upping your share size as you're going red.

You know. So it's you're getting that kind of divergence of you know, your reds getting bigger. Um, you're taking bigger share size and it's It's just kind of fueling that that downward spiral. Um, it's important to you know, as traders.

and like you said, you know we're We're very determined people. Day traders are extremely determined. You're not gonna, you know, go sit in your bed and cry yourself to sleep. You're gonna, you know, get up, come back and attack it again.

But it's being. It's being mindful enough to see that apply it and then change. You know, change and adapt. right? Like yeah, you can focus on how red you are.

but if you start tomorrow, you know at Zero, start at Zero. Respect Everything that you know, you know, you know you're a good trader. You've proven that you're a good trader, that that starting from Zero again will is such a strong confidence boost. Yeah, I think that will.

Um, you know it always puts you in such a nice step forward and it puts you into a whole new mindset of you know, forward momentum. Instead of dwelling on that that feeling of fear, you know, sometimes you have a feeling of fear when you take, um, some red trades or take some big losses. Yeah, yeah. I think, um, yeah.

I think for me, I, I mean, I, I just I. I don't know. I hold myself to this kind of unrealistic standard of I don't ever want to have red months. I don't ever want to have red weeks.

I don't really ever want to have red days. And if I have a red day, you know, through the month of December, I had a number of days where I was down 25, 30, 40, 000. I kept trading and I finished the day green. And those are days that can be really dangerous because they can teach you that revenge trading in a hot market can get back those losses.

This is revenge trading in a cold market. In a cold market. There's there's not a lot of hope. Uh, it's just there's not enough momentum in the market.

and then trading with really large positions when there's not enough enough, not a lot of momentum in the market. you're gonna have a big slippage. And so what I did today in December probably would have produced very different results. Qli may have well halted a second time and gone to 28 and 30.

recent ipo breakouts in December were on fire. Uh, Dlpn might have continued, might have just been more momentum on that one, and Astc might have been cleaner. or maybe all eyes would have been on Qli as it ripped to 50 and that would have been the one I'd be focusing on. And that's something that's really confusing for me because as I'm sitting here, I'm like, okay, well I just had a big red day.

I what I'm doing right now just based on my P L is not working Now I'm still the same trader that did X, Y and Z last month last year. everything else, perhaps in a different market. Everything that I did today would have been totally fine and I would have been sitting super green. but right now it's not working.

and if I do everything I did today again tomorrow, there's probably a good chance tomorrow's gonna be a pretty bad day as well, Because although momentum can shift on a dime, I am not really seeing, I don't see any indicator that's really gonna happen. So what do I do tomorrow? And this is where I really struggle because I don't want to. You know, I don't want to restrict my the options in front of me are I take the day off? get a couple days to kind of get space because I'm you know, just I'm just in a um, I'm just in a frustrated place, I need a couple days to cool off. Uh, second option.

I come in tomorrow, but I set a max share size Really really small of like 2 000 shares or 5 000 shares or something like that and I just trade conservatively. I just take a couple quick trades. I have a max law set on the account and I I don't trade past it. I just accept that if I do have another red day, even though I will be very frustrated to have another red day even with small size, that it's better.

Just limit the bleeding. Um, the boat's taking on water. First I need to stop the bleeding. Uh, because the next couple weeks of bailing out, just less bleeding means less of those losses I've got to try to bail myself out of.

And then the third option is to come back tomorrow and leave everything exactly as it is. Trade with fifty thousand share size. Hope that we have a big move and that I catch it and grab 10 points on it and make 500 grand. And that's those are sort of the ranges and of course there's a few spots in between, but those are sort of the ranges of my options for tomorrow.

and I think we can all agree that coming back in tomorrow emotionally charged from the biggest loss I've ever had, and from being read on the month and running the year, I'm not going to be in a place where I could responsibly trade with 40 and 50 000 or 100 thousand shares and trust myself to make good decisions. I also don't think the market's going to be strong enough tomorrow just based on the fact that today and this month so far has been slow and then I don't really want to take the day off completely because I'll just be sitting thinking about today and I usually find that the best way for me to kind of start to recover is to get back on the horse. Take a few trades and kind of get just a little a couple of green trades space between me and this big loss. And so that kind of brings me to the option in the middle, which is to come back tomorrow with restrictions on my account, which is essentially trader rehab where I restrict my trading and I could put a cap on my size tomorrow of 5000 or whatever.

whatever it is. Let's just say 10 000 shares for right now. Um, and the problem for me is that I sometimes will talk myself out of that because I'm like, well, what's the point? What's even the point of trading with small size? You know I'm down seventy five thousand dollars or whatever. Sixty five thousand dollars today? What's even the point of trading with small size so I can make 650 bucks? I'd have to do that 100 days in a row.

Like, what's the point you know, And that's what will encourage me to continue to trade with bigger size and um, unfortunately, that can allow the the losses to sort of start to snowball even more if I'm starting tomorrow with 25 000 shares. you know what I mean. So I so the right decision is to stop the bleeding and to trade with small size and the regret of missing out that I'll have the Fomo and the Romo regret. Unfortunately, that is the punishment for my failure today to manage risk in a better way.

That's what I've got to do. Yeah, I think I think a lot of that. Um, you know what you're saying is so accurate. Um, and a lot of that too is as day traders, we're so connected to the P L.

Yeah, because and that's what in the end. Obviously, that's what you're looking for. You're looking to make money. But I think, um, in what I've done and what I actually did today, you know I was on.

I was. I'm in the same boat. You are, I'm not. I'm not down as much, but in relatively speaking, you know we trade.

you and I trade very much alike. Um, I just don't take the share size that you take and being disconnected from the P L. Um, when I came in this morning, I was like, you know, I have to just respect the chart. It doesn't matter the small share size.

As long as I'm respecting the chart, I'm not looking at my P L. I'm not trying to recover everything all in one trade. Um, and in the end it just turned into very clean. very smooth trading.

You know, taking trades off of a nice chart, letting the trade ride to a certain area, taking, you know, selling half selling, quarter on whatever it may be, and that, um, in turn, kind of gave me a nice little confidence boost. You know, I ended on a decent little green day. Now it's just, um, not looking back at that. You like whatever your losses may be.

It's just like I said before starting from zero. With this this new found, um, you know accuracy. You know just now. Just keep repeating it day after day and then obviously when the when the time is right and then we have we see those those big you know, four, five, six, eight hundred, a thousand percent moves.

That's when you can come out and and really start pushing it again. Yeah, maybe that would be the day that you know comes. It instantly wipes out that big loss. Yeah, no for sure.

Um, you know I could really use a 100 000 green day right now. Um, I can pretty much guarantee you that there is a 100 000 green day in my future. Not too far away. Is it a month away? Is it two weeks away? Is it three months away? I'm not sure.

but there's one somewhere out there and uh, you know I. I just. I can't get myself so bent out of shape trying to force it when the market's just not there when it's not hot. And I think that you know if I said well, I'm going to do trader rehab until I've made back all my losses.

If I did that, I'd be just trading looking in the rear view mirror. I'd just be constantly focusing on this number that I have to make back. I really don't want to do that and that's not really a good way to to focus. I think that what I should do and this is going to be hard because it requires some discretion, but what I should do is trade with smaller size for the rest of this week, see how these next few days finish out.

If I have three small green days and maybe we start to see something open up, maybe next week will be better, but if it continues to not be gray, I have one green day, one red day, another small green day, at least the days will be smaller because I'll be trading with smaller share size. and the realistically I can guarantee you two weeks from now. I'm going to be totally over the the losses from today. I just kind of have to get through the next few trading days in the next couple weeks.

and this is kind of part of the process of like, you know, in a way, grieving a big loss, um, of just it's so raw when it happens right away and the emotion is so strong that you'll sometimes think I'll do anything to try to. Um, you know, I to not feel this way anymore and the best way to not feel this way anymore would be for me to hit a hundred thousand dollar winner. You know, like right about now. But um, that's then trading to try to make yourself feel better to get that big win.

That's the emotional stuff that's not trading the market, that's right in front of you. so it's not. It's not the right way to be trading, it's just the fact that when those emotions are really strong, that's when your emotions can start to hijack your trading. And I think that there was a point today.

And there's probably a point Many days in the last month where I've been read, I've been a little frustrated. not happy about it. I've been able to dig myself out of the hole and finish green and were some of those days revenge trading that worked out. Maybe were some of those days just me digging myself out of the hole and finishing green? Yes, I mean I don't know what you don't what you call it I I I don't like to say I wouldn't like to say that every single day I've ever been down more than 10 000 than finished green was a result of revenge trading.

Necessarily because I think some days the market genuinely provided good opportunities. I was in a good enough mindset to trade them well, and trading them well meant that I walked away with profit on those names and was was Green. But today, as the losses started to kind of snowball, I was like, okay, I'm gonna take a little break. I took a little break, Then I came back and I was like, okay, I'm coming back.

All right, I'm down twenty thousand or thirty thousand. Whatever. It was all right. let me let's see what's moving.

If I can cut the losses in half today, that would be good and then I lose another ten thousand. Okay, I'm gonna take a break for a few minutes, take a break, come back. All right. If I can cut the losses in half today, that would be good and then lose a little bit more.

And so it's like, all right, You know what? Everything my, i'm just you know, might the breakout momentum strategy is not working really well on some of the stocks like Actc and then on the ones that it might work better on. We're just not seeing enough continuation. Today's just not the day man. you just gotta live for tomorrow.

Just like, move on and not keep trying to force it. So yeah, you know that's it's that's a it's hard to do that too because like you say, you're kind of like you're in the moment. You're like oh I, next one next one we'll do it. The next one will do it and you're just.

you know you're spiraling down. Yeah, um, versus taking. You know you could just take one really solid trade. And just like you know what, I'm green, I'm done to mock it up.

Come back the next day. Um, and that'll Like you said, once you get that space between you, um, it is Very. It's kind of like it's It stings quite a bit. you know, as soon as it happens.

Um, but yeah. you if you take that time, you reflect, you look at your year, you look at where you are, um, and just kind of take in consideration everything. That you know, how far you've come and and what you've kind of gone through. You know you've gone through losses before.

You know, I've gone through losses before and we've obviously recovered all of them. Yep, and um, if you look at that all the time, it it helps you get over that. that kind of sharp sting of of taking a loss. Yeah, yeah, and you're definitely right about that.

Having faith in the the overall ebb and flow that out of this cold streak will come another hot streak. And you know, six months from now the everything going on today is going to be totally irrelevant. So given that, probably not worth getting too bent out of shape over it. but it is in the moment.

It is definitely very difficult to accept that that kind of big haircut and to accept that this is just not a super strong market. And I I wish that I was better at accepting it sooner. But I think what happens for me is that when I have when I'm in a hot streak and I have the first loss first, good size loss. Oftentimes I'll be like, okay, well you know, just lost 40 grand off the top.

All right, Well, that that's that's not great, but I can. I can bounce back. I can recover. I do a dip tray.

Next thing you know, I've recovered it and I'm kind of back up at the top. And then that. That might be like the false breakout. You know, I'm like back up at the top, but you know, just kind of barely.

And then a couple more trades and now I'm starting to stare. Step down, I try to do another dip. You know, another kind of risky aggressive setup and then now I'm I'm three red days in, I'm down 50 000 and it's like, all right, At this point, I probably should tighten it up, but now I I feel like I I don't really want to because if I go with small size, I'm just locking myself in that I'm going to be dealing with digging myself out for a longer period of time and I'm kind of guaranteeing that I won't have one trade. Quick recovery back into the green and that's a hard I guess reality for me to settle into.

And yeah, I don't know, I, I, I, you know this is I think again I said this earlier, but it's kind of an occupational hazard with trading that we have this stress around big losses. Um, just because there's no such thing as a trader that makes the same amount of money every single day. Every day of the year, there's going to be days that are better days that are worse. Those days bring out different emotions in you if you're really pushing it and trading at the edge of your comfort zone.

which I do, and I think that you often do as well. even though our comfort zones are different. Um, the P L's are going to be numbers that you know bring out some emotion, some bigger green days, some bigger red days, and so yeah. the the best thing you could do is is scale back, reduce the size for a little while.

That's the trader rehab just to kind of cool off. And yeah, maybe come in, just take one quick trade. One of things that's going to be frustrating is when So tomorrow I'll probably be hesitating a little bit because I'll be like I don't know. I I want to make sure it looks good and then you know something like this that rips from 19 to 21, 50 and halt's going up.

I'm gonna be like man, you know I'm obviously missing that one and then it finally does. Uh, a pullback and then you know my luck. The pullback is a false breakout and fails and it's like, you know, come on like I can't even I'm trying to focus on slower. you know, trying to slow it down a little bit, not jump so fast and I'm still not catching it.

And that may be just the nature of trading through a choppy market. Unfortunately, and that's a good reason to trade with small size until we start to think to see things open up. Now the question there about why don't I cut my losers faster? The biggest reason and one of the problems for me today was um, adding so like on Actc that's already on it. So this one on the trade that I uh where was it it was somewhere up in here, wherever I think it was here, you know I I was long like up here and then I was adding up here for the move up to you know up here.

So my cost basis on this ended up being really high because I was adding the better entry would have been down here 23 and I was in probably 70 cents above a good entry. and then as it's consolidating sideways now because I've added, I've increased my position. and if I was trading, I mean if I was paper trading, you know, trading a simulator I could just hit the bid like that. But with real money, there's liquidity issues with some of these stocks with large positions That it's not.

I can't just unwind a 30 000 or 50 000 share position with one click. If I do a market order of 50 000 shares I'm going to get, I'm going to get some good slippage on that. And so I always will scale in and then I scale out. But yeah, it definitely makes me hesitant sometimes to just cut my losses really fast.

So you know it's kind of like, um, you know, trying to navigate a a i don't know, like a 200 foot yacht through the marina. You just don't have the your you can't be nimble and you you know you just I don't know where to go that analogy but it to the extent that sometimes with small size you can be really nimble and you can get in get out block clock, Profit in with four thousand out, four thousand boom that's 800 bucks. Do that four more times as it's ripping up and you're in and out. Instant order execution.

You're doing market orders or limit orders and they're just filling instantly. You just try to do the same thing with 40 000 shares. it's not going to work. And so um, that's where I am kind of struggling because in a hot market, you know, stepping up to the plate with that big size when I get two dollars a share with 40 000 shares.

that's when we're talking about 40 80, 120 000 trades. I've you know, biggest winner of, uh, last year was I think 120 120 000 bucks in one trade. Biggest Losers: 58 000. Fortunately, I didn't set either of those records.

well, the losing record today. But you know you're not going to hit that with small size. That would be almost impossible. So yeah, I think it's um, it's it's the hot market sizing that's causing a little bit of a problem because I'm adding and adding an adding and then I've got a full-size position and instead of getting that extension through the level, it just fades back down.

And now I'm back to break even. But with 30, 40, 50, 000 shares, I can't just hit the bid. And so then I wait to see. Well, I don't want to hit the bid and then see it pop right back up.

and then it it doesn't. And then I exit, where it's obvious and where it's obvious you're gonna see a flush and then I'm getting slippage on the exit. So that's another advantage with small size. And that also speaks to.

um, just to put this on full screen for a second, the potential diminishing profits that come with increased share size. Where you could actually have a place where you start making less money as you increase your share size because of liquidity issues in the market. And this may be a time that I'm having that issue where the current share size that I'm trading is not working in a cold market. And perhaps in the last week had I been trading with only 5 000 shares every day, I I'd actually be in.

Um, maybe I'd be in. Maybe I'd even be green. I don't know. I I don't know.

but um, yeah, so that's a long answer to your question there about um, why don't I just cut my losses faster? But I I would with smaller size and I really can't with bigger size. So with a bigger size position, you're a bit more committed to the trade and so when it doesn't work, it's the impact is stronger. So I think that the the takeaway from today and kind of the resilience and the um, the feeling of I'm gonna recover this I will make this back and the confidence that I will knowing that my strategy is sound and that the problem here not really a strategy problem, more of a execution of the strategy, more of a letting emotions get in the way a little too much. Um, you know anyone can say criticize or whatever they want about me as a trader or me and the way I manage my emotions, but um, it's just, uh, sort of the way I trade right now.

I I'm aware of it. I want to get better at it, but I do find myself sometimes on that emotional roller coaster. So anyways, I'm right now needing to step off of it for a little while and cool off. Let the emotions simmer back down a bit and that means my game plan coming into tomorrow.

I had I put had Lightspeed put the max loss in my account. I had them set it at ten thousand dollars so you can see that that's that's actually already set here. So actually I could. I could trade in this account right now if I want to.

but I'm not going to. Um, so I'm I'm have a 10 000 max loss on the account. That is a little generous. I could tighten it up to 2500, but um, what? I really don't.

What I did quite a bit of last year was I start the day on my retirement account. I hit the max loss and then I traded my main account. Well, that ended up being, uh, a lot of profit in my main account that now I have to pay income tax on. So I'm just going to set the max loss out a little bit further.

Maybe I won't trade in the main account at all. I could just disable it for a little while, but for whatever, I'm not going to think about that right now. For right now, just focus on my retirement account. I want to try to, you know, trade there and I asked them To set a max size of 20 000 shares on my account.

But tomorrow when I come in, I think that I'm gonna trade with six thousand share max size. That'd be two orders of three thousand. So what I can do here? Uh, even though it might mean that I miss a little bit tomorrow, it's fine. So I think what I'm gonna do is go into my warnings I'm going to set.

I'm going to do my own restriction of 6 000 shares. Now this one I could. I could choose to override. You know, and if I end up having a i don't know, You know that's the risk.

But um, that's where I'm going to set it for right now. And I guess then the question is when we look at my P. L. So far on the month, every day this month has been more basically more or more than 20 000 up or down except for 19989.

But let's just round up. So every day has been up or down more than 20 000. So today's red. Based on this pattern, I've got a good chance of being green tomorrow.

And that's the part of me that's like well just keep doing what you're doing. You'll get 20 000 bucks. probably 25 000 maybe. Um, but I can't risk a second red day in a row.

Not right now. and I need to kind of if I had a second red day in a row. the emotional damage that would cause uh is actually more significant than the benefit that the green day would give me. So this is a time where I actually have to be really protective and guarded of maintaining my emotional balance and trying to nurture and support my emotional recovery here as I kind of re-stabilize and get my confidence in my legs back underneath me.

And so for that reason tomorrow I'm gonna probably have to come in and do kind of hit and run trading of boom Boom in out Green, I'm done, I'm walking. I'll be back tomorrow and just try to put some green days under my belt. And if I do that for a few days in a row and the market just does what it does, maybe it starts to pick back up, then maybe by sometime next week we'll be in a better position and I'll feel comfortable stepping up to the plate. But um, I I'm just not not in a place now where I could feel comfortable being aggressive tomorrow.

so I don't think there's any way I'll hit like I I don't. I don't know that I should even set a daily goal right now. I'm not going to hit a 10 000 daily goal with 6 000 shares. It's almost.

I mean, it's not possible, but we would need something to go up several dollars a share so I don't know. I guess I'll just I don't know What do you think, Jess, You know that's what I was just going to jump in and say that. that's what I was kind of. Um, I avoided.

I didn't set a daily goal because number one, I was trading the chart. Um, I wasn't looking at my P L. so I was letting the daily goal kind of come to me based off of proper trading. You know, proper share size, not getting emotional, and then it it just letting it be what it it wanted to be.

You know if if I went right instantly, yes, I'd peek at it just to make sure you know I wasn't going right? Obviously. But if I went red, you know that that means I was done. You know, Cut it off, walk away because more times than not you know you look back and you're like, oh, I'm fueling that red day or that red week, That red month just like you were talking about. You know you're just going down down down.

Now you're down so much you're like what's what's the point of of you know, walking away. I'll just keep going and see if I can recover All this. Yeah, so yeah, that's that's what helped me. You know, just hiding, hiding everything.

You know I don't need to know what I'm making as long as I'm trading the strategy properly. Um, you know, taking taking off the chart, trading stocks with momentum with news, You know, the wind is at your back? Yeah, you're right on that. Yeah, so maybe just kind of trying not to look at where I sit on the day. and um, I'm curious about.

I've sometimes wondered about setting a max loss on my account of like 100 bucks. Like if I go red, just stop trading. Um, just because, you know, usually my best days I go green right away. I mean, let's be honest, usually that's what's gonna happen.

I'm going to go green right away. but sometimes you'll have a day where you do have a loss and that's totally fine. We lose 30 percent of the time statistically, and sometimes those one or two losses will be the first two, and then I still finish the day in good shape. It's just that when you're already a little emotionally fueled when you go red right away.

Sometimes it's like you get up the next morning and someone's throwing salt in the open wound immediately the second you sit down your computer. and so it's just like it's just immediately putting you back in that mindset of I'm still losing. I'm still not dialed in. and so for that reason, I probably should have a tighter max loss on my account tomorrow.

Maybe Maybe I'll say tomorrow I'll put it at 2500 bucks. So if I go down more than 2500, I'll just say, you know what, Whatever, I'm just gonna call it a day. So it's read two date red days in a row, it's it's fine. Obviously, in a hotter market, making back 2 500 bucks is like easy for me, so I just have to wait for the hotter market to come.

And you know, if I had five 2500 red days in a row at the end of the day, that would be a lot easier to recover from than a 38 000 red day? A 65 000 red day because I went into the trenches trying to battle it out all the way to the bitter end. So I don't know. It's just the Fomo that comes when you do get stopped out and then later in the day you see that stock you lost on ended up ripping up like 300 after you left and then you're like, um, then you feel like I shoulda, I should have kept going, but again right now to guard that emotional, uh, stability to try to just focus on getting my confidence back tight. Max loss: 2500 bucks, 6 000 share max size for tomorrow and maybe see you know whether or not I can just trade for a short, shorter period of time because one of the other challenges is my emotional composure is probably my ability to maintain discipline when I'm really in the zone.

Might be for five, six hours? Maybe maybe. but when I'm already so easily triggered because I'm in this state, it only takes one loss for me to go off the handle. You know, So I. I just I.

I hardly have the ability to trade till 11 a.m right now. Not that there might not be opportunities and this and that, but just because I'm I'm vulnerable right now, so I have to be careful and so tomorrow is probably going to be just a hit-and-run try to. hopefully We have a decent Gap scanner and there's an obvious Gapper. We had one yesterday and we really didn't have a good one today.

and that's also an important thing of just being more present with the current market you're in. And maybe tomorrow is a good day if I sit down and I'm like I don't like the scanners maybe at that point I say, you know what guys, there's nothing here for me. I have no trades pre-market I don't like anything for the Gap and go. I'm just it's not worth it.

I'll just come back tomorrow, I'll just take the rest of the day off and I'll come back tomorrow because if I'm already looking at stuff pre-market and there's nothing and there's nothing in the Gap and Go scanner, then the day's already not looking great and that's kind of what today actually was. So yeah, so that's kind of the process there of you know, thinking about the loss and um, kind of going through it, talking about it and coming to some type of game plan of okay, this is what I'm going to do to kind of dig myself back out, and then it's leaving all that right here at my desk so I can go hang out with my kids and enjoy the rest of the day and say a couple of things that I'm grateful for and not try to get too. You know, deep into feeling sorry for myself, because in fact, um, feeling sorry for yourself accomplishes nothing. It accomplishes absolutely nothing.

And so you might as well just not feel sorry for yourself. Feel grateful for the things that you're grateful for, the opportunity to be a traitor, the opportunity to sit here and and teach you guys from everything about what works to everything about what doesn't work, the ups and downs, and you know, for my health and everything else. So that's what I'm going to do. I appreciate you guys being here and again, this is me putting it on the table.

the real journey, the real ups and downs of being a trader. Uh, yes, the ups are, you know, glamorous and I'm sure a lot of people would love to make 200 000 in one day. But remember, uh, you know if if you can't handle the losers, you're not going to be allowed to have the winners And it's even. I still struggle with how to handle the loss and compartmentalize it to be able to put it away and not be thinking for the rest of the day that 65 000 is the price of a brand new I don't know, Volvo station wagon or something, but uh, I mean think about how how how many skittles I could have bought with 65? I could probably fill up this entire room with skittles for 65 000? It's a lot of skittles, so got to find a way to just put that aside, we're talking about big numbers.

Think about how many skills Bill Ackman could have bought when he lost like four billion dollars on Herbalife. A lot of skittles, but you find a way to put it behind you. And obviously people who are far far more successful than me have figured it out and I can figure it out too. So thank you guys for being here.

Thank you Jess for being my sounding board and I will see you guys! Um, back in the chat room tomorrow and we'll see what the market wants to give us all right? See you guys later! Bye everyone! Thanks for having me, You're welcome. See ya, take care! Oh hey, I didn't see you there. Help us hit 750 000 subscribers by hitting that subscribe button and stay tuned and check out some of my other awesome uploads right here on Youtube.