Hey everyone all right? Well, today's a red day recap and I guess that should have been expected since I was green yesterday because the trend so far this month has been green. Red Green Red Green red. I am not. I haven't put together two back-to-back green days this year, which is a little discouraging.

I'm in a cold streak here. Um, but it's part of trading. It is what it is. so I'm going to talk about that during this recap.

Talk a little bit about the resilience to come back each day despite the frustrations and everything else and I'll break down the losses from today which are not fun, but again are while keeping things in perspective the nature of trading with larger size. So I was up over 600 000 in the month of December and as I sit right now I'm probably down about 60 000 or maybe a little more in the month of January. So that was 10 steps forward and the first you know, two week week and a half here is one step back. As far as a cold streak goes, that's okay.

As I was getting started trading I used to have you know four or five weeks of progress and then one day back to square one. but a lot of you guys know what that's like. So while a red streak like this is frustrating, I am also with ratio maintaining my trend of keeping the pullback generally small relative to the last stretch up and out of this. No doubt out of every cold streak goes the next hot streak, But every hot streak has to end.

So these are the ebb and flows: the ups and downs of training and to try to ride through them without getting sort of caught into the emotional spiral of frustration and anger as you're going down or in euphoria and a huge level of confidence in yourself as you're going up. being able to kind of, you know, have that even keel as you're going through these ups and downs. That's probably one of the biggest challenges of trading. not one that I always handle as well as I could, but that I'm trying to work.

So anyways, that's the topic for today's recap. I hope you guys enjoy it as always. Please hit that thumbs up if you haven't already subscribe to the channel if you haven't already and I'll see you first thing tomorrow morning for Wednesday and since today was Red, hopefully tomorrow Wednesday will be Green. All right, I'll see you in the morning.

Hey everyone all right. So uh, Red Day recap here. It's one step forward. One step back.

For me, that's the trend of this month. Green on Monday. Red on Tuesday. Green on Wednesday.

Red on Thursday Red on Friday Green on Monday Red on Tuesday. I'm down 39 000 in my main account, plus 2400 in my other account. So down 40, 42, 000, 41, 500. I mean, I.

it's kind of. It's it's it's insulting. It's embarrassing. It's unbelievable how wrong I've been this.

Well, I guess today yesterday I mean was good. but so let's look at Qli which is the last one I traded. Um, so on this one I was long I so it halted up an ipo today and halted up. I didn't trade that, It then went into a second hall.

I didn't trade that I didn't trade this or this. I waited for a pullback and I bought right here. at 1591 3500 shares, it went into a halt up and on the resumption hit a high of 22.. So from 16 to 22 is five points on 3500 shares.

It's a 15 000 winner. But I guess I was seeing more potential in this than I I should have. I was thinking we might see a move up towards Uh 25.. So I actually added 6 000 shares at 22 and seven seconds later I hit the bid at 1837 and lost 12 grand on the trade.

So I was already down 28, 000, 27, 000. I was already having a bad day and that put me over the edge. Now on this. You know you have this exaggerated move from 8 22 which I chased and again, you know the momentum strategy.

buy high, sell higher. Um certainly works. But this is an instance where I added too high and I just I I couldn't Um, I couldn't manage it. So if if this was showing right now and open right now, it's showing it open at 15 20.

Which would be low if this was showing an open at 20 or or something like that. I would actually be bullish for a bear squeak or bear trap and then a short squeeze through the highs of 22. But at this point that doesn't look like that's going to happen. I'm really just kind of.

I'm bummed out today. Uh, you know, I mean as anyone would be to go through a stretch of one step forward, one step back, one forward, two back, one forward, one back. I was up 31 000 yesterday today I gave it all back. so now I'm back to low low of the month.

Um, you know, let's go back. So Qli down 12 000 on that the trade before that Dlpn. I was feeling annoyed and was frustrated that at that point I was down i think 15 000 or so on the day and I bought uh, 27 000 shares here for the breakthrough five. I hit a high of 530, then flush down here to 4 45.

with a bigger position I'm not able to just take the five cents off the table and I ended up losing. um on that position, I was out at 443. I was already down 5000 on it from a trade right here this morning. so I lost 5 000 on it there and then another 15 000 on it right there.

So no continuation on Dlpn. So that's the biggest loser of the day. Second biggest Qli, third biggest Bmra, Bmra. I was green on and that was along at 7 13.

it squeezed into a halt at 744. I added at 7 45 on the dip it came back down. I lost 5 grand on it atif I bought this for um a break through the half dollar right here at 45 I stopped out at 35. I mean like bought the top irix on this one lost 600? um I don't remember this trade very well, but whatever.

I lost 600 on that one actc I was up 10 000 on this one this morning. I had a really nice trade on it. uh at the let's see I believe it was at the open here and then another one right here and then I had it and then I gave back my profit on it. Buying the dip right here went back to break even on actually no sorry I on this trade here I was down 10 000 on it and then I got back in at 21.30 right here and made back that 10 000 and I finish up 124 dollars on the stock and kuke I was up 8 000 on this was kind of similar uh buying on this one the halt resumption so it halted up.

bought the resumption and then on the dip here. tried to buy a dip and gave back uh 6 500. and over here I had one trade on Capr that was also just a, you know, immediate kind of rejection up here at Along for the break of six. So you know, as I look at my trades here, I just I'm at a little bit of a loss.

We're just seeing some really, really terrible action in the market. It's very discouraging. It's never fun to have this happen. So I'm sitting now on a good size red streak.

I'm not sure if it's helpful to go look at where I sit. Um, but I guess I will. let's see. So so this let's see.

So let me zoom this back in. All right. So so I was down 68 000 before recovering 30 000 yesterday. So now I'm back to down 68 plus 10 000.

So back to down 78. My previous biggest draw down was 75. so I'm tied. Basically, I'm breaking my biggest draw down and that was from December.

If you look at my P. L, you know I'm hanging out here. Kind of a little under the highs. 75 000 off the highs.

That's not too bad all things considered. You know, 6.7 million we had. I had a you know, long stretch of consistent and then 2020 just skyrocketing profit as the market was just surging and we were seeing incredible opportunity. So yeah, it's just for the month of um, January that I'm not very happy with where I sit.

So 12 000 plus 42 puts me down 55 that 54 000 or so on the month accuracy is a little lower than usual. I'm usually up around 70. I'm at 60. Profit loss ratio is negative because of the big losers that I've been catching.

You know, it feels like today today could have easily been a green day. I was up 10 000 at one point. Today when I had my trade on Kuke and I had my green trades on Atc, I was up 10 grand and then gave back that lost on Atc and then Qli. I got a micro pullback but I was adding into it.

Yeah, it's a tough day, no doubt about it. But as always, you know I do the recap every day. Whether it's a green day or a red day. The green days are fun to recap and obviously I've had more than my fair share through the month of, well through the whole year of 2020.

I mean, 2020 was just amazing. So right now I'm I guess paying my dues a little bit here in the beginning of the year. it's going to force me to sit back down and kind of take another look at how I'm sizing. my position sizes right now are too big for the current market.

But then the problem with sizing down is that if I size down, I'm not going to have much, uh, much hope at recovering the losses. And I think that that's the that's the sort of challenge that a lot of traders have is all right. Well, you know I just took. You know, I'm down 50 000 on the month.

I can make 50 000 in one day. I was potentially looking at a 35 000 winner on Qli when it looked like it was going to squeeze up to 25, 27, and 30. And then all of a sudden, um, I'm not sure what happened, but it it just it rolled over hard there. so you know it's not.

It's not hard. I mean yesterday I had a nice 31 000 day. It's not hard for me to potentially have a big green day, but it's not going to happen if I size down. So the challenge here for me is deciding.

Is this the point where I say all right, You know what? Enough's enough this month. If I'm going to be taking two steps forward and two steps back, I might as well be doing it with 2 000 shares. You know what's the point? I'm up 25 000 down 25 000 up 20 down 30 down 35, up 30, down 39. I mean might as well just move the decimal over and be trading 2500 up 2500 down 1900, up 3800 down.

You know I'm just trading with such kind of big numbers right now that the pressure is a little higher because now I'm like, well, I'm down. This is the most red I've ever. Actually, I think this is the most red I've ever. been on a month.

Context is important. The context of this, while that is true, what is also true is that I'm coming off a year where I broke 5 million in gross profit last month I was up over 600 000. you know? So with those things that provides the context which I think it's important to have that perspective both for I suppose you watching this as a viewer on Youtube or Facebook, but also even for me to maintain that perspective. If I get super focused on the fact that this is my biggest red month I've ever had or the biggest drawdown I've ever had, then I'm focusing on the negative.

Uh, putting myself in a negative frame of mind that's not helpful, that's not going to serve any real purpose and helping me reposition, get centered and start to dig myself out of this hole. So the better thing to do is you know to take a breath to recognize that I am feeling physical sensations of pressure. You know my heart's pounding a little bit mostly more when I like right after cut that loss and was like very frustrated Max loss on the day my account's locked. I can't trade anymore.

Today I've I've just I'm I'm locked out for the day and I'm really disappointed. Gave back everything I made yesterday so the feeling of success yesterday has now been replaced with a feeling of that was, uh, you know, premature and now I'm back in the red. So those feelings are are certainly very physical and an emotional. The emotional parts are well as uh, contribute to that physical sensation and then the next step of okay, well let's put it in perspective here and let's try to be a little bit more, uh, objective as I look at this.

while it's not nice that I have three green days on the month and four red days, while it's not fun that I've been green one day, red the next day, and I haven't been able to even put together two back to back green days, This right now is probably the worst red streak I've had since November. And all things considered, I came off a really nice hot streak in December. one of the things that used to happen to me. um, and I'll just draw this out for you, what used to happen to me would be that I would have a um, I would have a green stretch.

You know where I'd have some have some profits like that and then I would. you know in the course of two days, give it all back and go back to breakeven and then I have to spend another two months or whatever getting back to here and then back down. and sometimes you know, stair stepping down where my my account value was decreasing. So when I used to have a big snowball day and I would lose what at that time might have been four thousand or five thousand or eight thousand dollars that could have been giving back a month or six weeks of profit, I feel very grateful that I'm able to take a 50 000 loss or be down 50 000 on the month or even 70 000 and that I'm not even giving back a week of good profit from the previous month.

So while the numbers are big, that helps provide context and perspective. So as a beginner trader, if you had a month where you made 5000 and then you had a week where you're down uh, 1200 or 1500, you and I would be basically in a very similar place based on our ratios. And while I understand how frustrating it is or you might feel because I feel frustrated as well, stepping back and giving yourself that context and perspective is important. It's not about trying to trick yourself into not feeling bad.

It's not about trying to not take accountability for trades that you took that you maybe wish you hadn't taken. I think that there's certainly an opportunity to go back and look at some of the charts and ask yourself on losses. You know what was the setup? There was this. really a good quality setup.

why did you buy where you bought? And I think a lot of my trades today were chasing momentum because we haven't had a lot of really sustained momentum. I think I've been in the habit of just chasing whatever starts to move, but then what we're seeing is things start and then they fade. So like Bmra, this is very, very typical of what we've been seeing. They kind of start and they fade.

And so the reason I've been chasing these momentum moves is because if you wait for the pullback, there's no pullback. It just fades. So your only opportunity sometimes at least it feels right now is to sort of be chasing and just trying to catch a little bit. And unfortunately you know and you look at something like Qli which is back at 14.

the only opportunity to trade. this was to chase it and I maybe on another day in a hotter market I might have been green on it. Maybe I might add at 22 would have been fine, it would have halted going up. Then we're looking at a move to 25 and I'm looking at a 30, 40, 50, 000 winner.

That's probably what would have happened if we saw the same exact setup in December, which was obviously a much hotter month in the market. But market conditions are important and I have never been good at really adjusting my strategy to accommodate market conditions. I've said it a million times that I need to ease off the throttle sooner, I need to slow down sooner and I never seem to do it. and I would say that that for me is probably one of my biggest Um.

frustrations in myself that I sometimes will tell myself, okay, take it slow today and then two minutes into the day, I'm along with forty thousand shares and I'm down Twenty thousand dollars and I'm like what happened, what happened to your pep talk of take it Easy today where you know what's going on and and and I? I don't know. I I think that, um, this is, you know, the occupational hazard of trading. Um, is this, uh, disconnect sometimes with saying you'll do one thing and then a second later seeing something in the market that pulls you off that that game because so much of trading is, um, well, it's it's trading. the emotion in the market.

You know it's trading that Fomo in that fear and that greed and the regret that people have of missing opportunities. And you can see how it fuels stocks of all price ranges in all market caps. We had have obviously seen crazy moves on Tesla, Triple D in the Lat which is a 90 million share float. Stock has seen a really impressive move.

I mean, these ones, you know it's it's. definitely the market can be irrationally strong. and look at Sigl the stock that Elon Musk inadvertently um, got people excited about because he mentioned to buy signal or to use signal. But Signal Advance Inc.

doesn't even make the software signal So the stock goes from 7.75 and they don't even make what people thought that they were buying. That's like earlier this year when people start buying Z-o-o-m thinking it was zoom. but Zoom stock is Zm, so both of those zoom and Signal provided opportunities. Certainly, something like Qli provides opportunities.

and there are times when I seem to be really in the zone and I capitalize on these really really well. And then there are other times like today and like the this past week or so where I just feel like I'm constantly a step in. Just one step off, I I have an expectation of what I think might happen. and I'm just wrong.

And because you know, in in the moment, you know, as I see something like you know, Qli halting here, you know it just halted 1436. Now it's showing 1796. Imagine if that really does get back up to that level, then all of a sudden very quickly you're thinking, whoa, over 1716, We've got room here to 1799. We might get a move back up to 22 to break a volume weight, average price, and all of a sudden your bias has changed very quickly to home run potential.

Or you know, to a potential. Um, you know, parabolic stock or something like that. So yeah, I don't know I I I'm trying not to get myself kind of too bent out of shape about where I sit right now, because while it's disappointing, I felt a similar level of disappointment at the end of November. when I finished the month down twenty seven thousand dollars.

I was down twenty seven thousand in November. I mean look at the month, I was red Like every you know, I had a five day hot streak here. But other than that I was red. Green red green red green.

You know it was the same same type of story. And I started the month in the red by well I had a 74 000 green day there I guess. But um, you know by here I'd gotten myself from at one point being up a hundred thousand on the month to back in the red. So in the moment that was very discouraging.

Very disappointing. I was very upset with myself. I was feeling, you know all of the I guess same emotions that you would say that that I that I could say that I'm feeling right now. And then I proceeded into the month of December and made 600 grand.

So that's where sometimes it feels like um not trying as much as I can not to feed those emotional ups and downs is important because you know it based on my track record you know this is you can see here. So this was like the month of October was good. You know November wasn't that great. Well I have to do gross here or net because the commissions were the problem in November.

but by the end of November you know I had finished down. I guess I started whatever like right around here so had nothing to show for the whole month. Had a couple of nice days in early December and then boom, a couple big losses and then all of a sudden this big surge. But in this little stretch here, I was very disappointed in this stretch here and especially in this area.

I was very disappointed to be down 99 000 including commissions, to be down 88 000 including commissions. I mean these are big drawdowns. I wasn't happy about it, but the perspective of you know, where I sat on the year, um, is something that maybe I wish I'd held on to a little bit better. And as we go into you know, the New Year here.

trying to be mindful that while it's always frustrating and annoying to have a cold streak like this for any trader of any strategy, this is the inevitable part of trading, You can't There's no avoiding it. This is just how it is. It's how it's always been. You have hot streaks, you have cold streaks, hot streaks, and cold streaks.

And ultimately as a trader your goal is going to have to be to try to keep the keep the losses during the cold streak as minimal as possible so you're not giving back too much from the hot streak. But whenever a hot streak. ends, you know you're going to be giving back a little bit off the top as things start to cool off. It's I mean it's just the way I've always experienced trading and I think it's just the way it is so you know Again, I mean I think with any strategy you're going to see that ebb and flow so you just have to account that.

Okay, I'm going to have a little drawdown. and for me having a drawdown once a month where I was giving back everything I had just made in the previous four weeks as a beginner trader was not acceptable and I was getting really frustrated. And then I started to maintain the composure. to you know, push those losses back or push those um, red days a little further apart.

So instead of being and you can see here, it's showing a 1698 resumption. So all of a sudden that gap halted at 1436. And it's it's showing this resumption. So this is where it starts to look really kind of bullish for a move back up higher.

The high here was 17 16. again, if it breaks that level now all of a sudden, are you going to actually see a move back up towards 22? Or is it going to flush back down to 14? So in any case, um, yeah, as a as a beginner trying to push the red days as far apart as possible, the big Big Red days number one, and then number two, trying to keep the losses as small as possible. So you go from having one step forward in one month and then giving it all back the next month to actually making some steady progress. So I am certainly making steady progress.

But the ups, while they're bigger than they've ever been for me, the downs inevitably are also bigger than they've ever been. And so the emotions that come with that are are certainly higher. But I also think that I've done a pretty good job emotionally conditioning myself to be down you know, 42 grand today and for the most part to be able to brush it off and after this recap, shut it down, walk away and come back tomorrow. Kind of just you know, new day.

So that's good. That's definitely good. And while I could size down, uh, right now, one of the things that is important for me is to continue to be comfortable trading with large size, because when the market heats back up, I'm going to need that larger size to have a really good hot streak. And that's when you're going to start seeing me having you know, 30, 40, 50, 000 days back to back to back and 100 000 plus weeks.

you know? So I'm not going to get those types of weeks if I don't keep the share size up. If I start really scaling down on share size, then I'm going to lose the comfort that I have right now with these kind of big numbers. So I think it's while right now I don't love that I'm grinding and losing a little bit. uh, commissions, but also just from losses.

I think that the benefit of keeping my size share size higher is that I'm continuing to, to, uh, maintain the comfort around this. You know, these sort of extremes which is good. And if I can hold through this stretch and get myself, um, you know, just through the red streak and into the next hot streak, I'll be. I'll be glad because once the next hot streak starts, I'll be trading it with larger size.

And you know, today, Qli very easily could have been the turning point for me. I could have gone from down 27 000 on the day to up 10 000 or 15 000. It could have. It just wasn't quite.

it just wasn't quite strong enough. Bmra, you know, could have you know, given me something here, but then failed. Just very similar to how Govx did yesterday. so we are definitely in some chop.

While I could also just say you know what, I'm just going to step back and take a take a week off, take the rest of the week off or come back. you know, whatever on end of next week or just wait for someone to send me a message and say hey Ross We're starting to see some parabolic momentum again. This is a time for you to come back. The problem with doing that is that I would, uh, be losing the, um, the emotional conditioning to the ups and downs and I would inevitably as I come back, start to feel initially rusty and kind of like, you know, just not totally there.

So by sticking it out and getting through this, I'm in the trenches. I'm seeing what's moving, I'm very connected with what's happening in the market, what's working, what's not working, and when things do start to pick back up, I'll be quick to capitalize on it. Just as I've been quick to jump on pretty much anything that starts to look good. It just has been the case in the last two weeks that what starts to look good very quickly starts to look terrible and then I'm in too high.

So anyways, that's it for me. Uh, you know, red Day recap. But a great day for uh, transparency and for showing you guys the the real struggle uh, which will be, you know, a constant battle probably for me and for for any trader out there, the struggle to get through cold streaks with composure, having the resilience to get back on the horse after repeated losses and repeated knockdowns. Because you have this goal, you have this motivation.

You have this determination to try to make this work. And while I have some great success under my belt, I am determined to have a really good year in 2021. And that means I've got to keep coming back every single day. and I've got to push through this and the first you know week of the hot streak when things pick back up.

Unfortunately, we'll be recouping losses incurred during the cold streak, but um, that's okay. I, I've been there before, I'll get through it and on the other side, things will no doubt be better. And here you see the spread and the halt going back down. So halted Up at 1436, gapped to 16 and then sold right back down to 14..

now this may possibly gap higher because it's halted at the volume weight average price. So 1440 was the halt. If this opened at, I would say anything like 15, 30, 15, 40 and then broke through 16. Then that's where you're starting to see that it's kind of, um, coming back up.

but it's got to hold that volume weight, average price, and I don't know that it does. So tricky day for me. A tricky day for a lot traders, I'm sure. but these losses are our lessons.

No doubt about that. So I hope you guys have a better day than me. A great rest of the day and I'll see you all first thing tomorrow morning. All right, see you in the morning! Bye everyone And that right There was an entire video with no ads.

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