What's up you guys? All right? Well, Red day recap here. Second, red day recap in a row down 13 000 bucks? Um, frustrating day. We didn't see a lot of really good follow-through especially at the open. The open was really choppy.

I went into the red and actually made back losses. Uh, later in the morning, even into the afternoon on Ntn which ended up squeezing up like 250 or 275 percent. But it was not a good start to the day. I went deep in the red and then had to dig myself out, which is really frustrating.

I don't like doing that. It's what I did yesterday. It's what exactly what I did not want to do today and it's exactly what I do not want to do tomorrow. So what I did today that didn't work was, um, I mean honestly like taking any trades in the first, um, first 15 minutes of the day.

I had a couple that were okay, but um, it was just a bad start and I don't know, You know it's I don't know no real rhyme or reason why that happened to be the case. sometimes it's just the pattern I suppose of the market where we've I've had been noticing this pattern the last few days of some of the pre-market gappers, the leading gappers making really big moves at like 7, 30, 8, 30 in the morning, and then by the time the bell is ringing, they're already fading, the bell rings, and they sell off more. so I've already missed the move. Um, so I think it was a continuation of that pattern and I think that I need to be a little more disciplined tomorrow waiting for better quality entries.

And if that means trading less, it means trading less. I mean, it's Friday's the end of the week still up on the week about 70 80, 000. so it's a good week all things considered. No reason to have a third red day.

So if I can't find really good quality setups, it's not going to be worth taking any trades at all. I'd rather take two great trades than 10 so-so trades. I mean, you know less is more so in this market right now now. we'll get back into a market where things are hot and you can be much more aggressive, but that's just not really been the case last three days: Tuesday, Wednesday and today Thursday.

So tomorrow Friday gotta take it easy. but I hope you guys enjoy the recap. I break down frustrations on my swing trades and my day trades and um, we'll be back at it first thing tomorrow morning. All right, See you guys in the morning.

All right you guys. So uh, we're gonna do a midday market recap here. Uh, well. it's a little later in the day.

it's a little. It's like two, two o'clock or uh, was it 2? 15. So that's where I sit on the day read: 13 000 Second red day in a row. Um, I'm red across the board just about.

Except really in good shape on Ntn, 25 000 in profit on Ntn, but red on Igc, Red on Fat, Red on Hx, which I just lost on. And that was my final. like. All right, I'm done.

Um, red on Mcrb. And my swing trades are not in good shape either. Well, my Etsy trade stopped me out and my Netflix trade is fine. So I'll talk about these, um, the day trades and the swing trades all things considered.

Right now, let's see. Um, let me pull up my trades for the month of, Uh, August. So trades for the month of August? Uh. As of right now, I'm up 361 thousand dollars on the month before today, so I'll be up 348 000 on the month.

All right. So dipping down a little bit. Um, if I go into my calendar, I was read yesterday by 10 000 and I'm going to be read today by 13 000.. So Two two red days? Relatively small.

Thankfully, I had a ninety thousand dollar day on Monday, so I'm still green on the week despite these two red days, which is great. Uh, tomorrow Friday. I really need to finish the week with a green day. But um, we'll see what we'll see what's in store for us.

So let me talk about my swing trades first, because I'm I'm frustrated. I'm going to say that I'm I'm borderline furious. So my filled order here on this, uh, credit spread my fill was four dollars and 88 cents. All right.

So I had a credit spread, a put, credit spread, the Uh, 115 and 100 puts. let's look at the current price of those two. All right. So if I go into, um, if I go into this, uh, on Etsy, this is the 28..

So if I do 115 and 110. So basically I had sold the 115 and then bought the 110 which gave me a credit but I had to buy them. I it stopped me out. So I bought the 115 and then sold this.

That's a 56 cent debit. How in the world is it possible that I filled at 4.88 cents when the current value of that is 56 cents? Well, I asked the same question and I actually talked to Td Ameritrade about because I said, listen guys, I I was in this yesterday and I set a stop at two dollars and fifty cents yesterday. Uh, yesterday when the market closed on Etsy. That position was in the red, but the current price on it on that spread was like two dollars and 20 cents.

Now if you look at Etsy today, it's up like five percent. So let's look at Etsy, Etsy, it's up Five Five point seven percent. So how in the world is it possible that at 11 A.m 11 01 A.m right here right here Right at that time stamp at 11 A.m that I got stopped out on a trade at four dollars and 88 cents? That is now at a dollar. Uh, is that 55 cents And they said that, um for for a second that options contract uh spiked up.

The puts spiked up. Now puts go up when the stock goes down. So when the the stock's going up, the puts are going down. and honestly, it's a that's it's a bunch of.

It's a bunch of malarkey if I'm gonna be totally honest because that's impossible. So whatever, I mean it's three thousand bucks doesn't kill me, but it really pisses me off. It really upsets me because uh, it's garbage. It's not.

it's not correct, and I tried to escalate to them and they're just defending themselves. So I got stopped out at 4.88 on a position that's currently worth 55 cents and that I should be green on. And so my max loss on it was 250. And it didn't stop me out at 250 which was my max loss on the on the stop order.

It stopped me out at 488.. Two dollars per contract above that. So for 10 contracts that slippage right? there is over two thousand dollars. So you look at this and um today I locked up profit on the 150 by 155's They were red on the day but green.

Overall I took this stupid loss at four dollars and 88 cents on this contract spread right here that's currently at. You know, whatever this is and I took these off the table. I mean the fact is, um, I, I mean I the So here's the problem. so you could say, well, why are you even using Td Ameritrade? I'm using Td Ameritrade because, um, it's such an easier platform to use for, uh, for trading options.

It's really easy to put trades together. So like right here, I can you know easily say oh, I want to do you know the 120s and then buy the 115. you know, I've got the 25 Delta, 15 Delta and then I can click confirm I can see Okay, max profit, max loss. Okay, this is right right? So that's it.

And then if I want to do an Iron Condor, I can say all right So I'm going to do that. Plus I'm going to do the Let's say you know this by sorry this, buy this down here. So I'm going to sell this one, I'm going to buy this one and then I'm going to sell this one and buy this one. So now I've got an Iron Condor here so I can look at it like this.

It's very easy to use and it's really nice that you can click on a trade and you can very easily set a stop. The unfortunate thing is, this is now the fourth time I've had this happen with stop orders at Td Ameritrade. So basically the stop orders are useless because they don't work properly. So um, I don't know what to say.

I mean, it's incredibly frustrating because to take a trade and not have a stop order on it, especially with options, is potentially you know, risking, uh, something going against you like, really, really badly. So that's why stop stops are important. And here they're not letting you use it. Now in, uh, so I can let me log out of this for one second.

Um, I'm going to log back into my retirement account for one second. Um, so I don't have my Um in my uh, Actually, I might not even have the quotes turned on on this one. I think it's it's deactivated, but over in in light speed. You know I love light speed for day trading, but for trading options, it's uh, it's really pretty difficult.

So now it looks like actually I don't have any of my yeah because I think I I turned it off because I didn't want to use the market data on it. So in any case, you know I'm using a platform that is a little bit easier to navigate, but is it's causing some other problems so I'm not sure really how to deal with that. Uh, you know, if I if I tried to do options in my E or my Light Speed account, there's two problems. Number one: Light won't let you do cash secured puts which is a problem in a retirement account because I want to be able to do them so you can only do the spread.

So I can't do cash secured puts which is what I have right now on that Netflix trade so I can't do one of the strategies that I want. and number two, their options chain is like it's just it's hard to navigate the order, where you put together options, trades is hard to use and so all of it makes it really slow and hard for me to navigate. And I also don't really want to be swing trading in the same account that I'm day trading in because you know if I log in and I'm already starting the day red because of swing trades. That throws me off when it comes to my day trades, you know.

So instead, uh, I kind of separate the two. So swing trades over Td day trades with light speed. And I mean I think the fact is, unfortunately, I'm just not going to be able to use stops on on some of these some of these trades if I want to if I want to trade them and that's not ideal. But what happened today is not ideal either.

So I think probably Etsy is it's not the most, uh, thickly traded in the options market so stocks like Apple and Tesla probably would I would I would think would have better performance uh with stop orders. but I'm not really sure and I'm not super interested in switching brokers and doing all that stuff because it's It's just such a pain to do it, especially when you have to move a retirement account because you've got a you've got to do like a special type of transfer. and it took I took like I don't know three weeks to get this one set up just to transfer it from light speed over. So I'll I'll just stick with it and you know today's a little frustrating.

Um, that that happened because I was sitting here looking and I was like I was like my Etsy trade is in great shape. Like I said it like two minutes before I looked over and my position was gone and I was like what? What just happened? Why? How is this even possible? So uh, all right. well I've got my Netflix trade. So the Netflix I sold the Um 465 puts at 1.70 they're at 68 cents right now.

I'll say that I don't love that it's coming back down a little bit at this very moment, but at the same time these expire tomorrow at the end of the day, so I'll probably be all right there. My strike price is 65 so I'm a ways out. I think I'll be okay. S P 500 is coming back down as well, so that's probably you know, creating a little bit of the drop on Tesla or on Netflix.

I was thinking about doing a Tesla trade off the top. um this one might not be a bad idea up here. I could do a tesla uh call spread. so let's look at the weekly.

I wouldn't do that far out I want to do this week. The problem on Tesla is that even way up here at 1800 um you know the premium is not terrible. I mean it's not great, but it's not terrible. but the um the volatility is still pretty high.

You know Tesla can move up and down 30 40 points and that can create big swings in the option price. So if I do a uh, even if I do a call spread that's way out at 1800 I could still have some serious volatility in that in that price if I come down to like 1689 which was the pivot back here seven. let's just say 1700. That's it for 15.

I could get sell this here for a 70 cent credit 700 credit but my max loss on it's 9 300 which is why typically I would say okay I'm just going to put a stop on it 700 credit I'll put a 700 stop on it. but then if I come back and I see I got stopped out you know uh like I had happened uh earlier in the week where I came back and I've gotten stopped out for like 160 loss I was like it never hit 700. why did it or my one to one why did it just jump me out? I'm back out of the trade. It's ridiculous.

So uh, that's you. Know it's important to be able to manage your downside. and when you're not sitting and staring at it like that's the other problem with light speed. Light speed doesn't allow you to set any stop orders on options trades which is why I was like.

That's unacceptable because I need to be able to manage my risk. I understand if you're day trading, you know if you're doing a day trade on on options. Okay, fine. you know you're staring at it.

but if you're doing it as a swing trade then you know I mean some. Some bad news comes out. something happens. You want to be able to control your downside.

Downside Risk. It's important. It's It's how we trade. So if you can't control your downside, then you know the upside's not worth it.

So I I don't know. Um, given this problem here that I'd be comfortable with, Uh, taking this, taking this trade. Um, because the downside on the call spread is can be, you know, pretty nasty. and Tesla.

I mean this is a red doji on the daily. It totally feels like it's due to pull back after that big move. There's the split that's coming up. Uh, so you know the overall market's pulling back a little bit, but this contract down here at 1700 it's going to be too volatile even right now.

I mean, look, it's this was just in the force. Now it's in the fives. Look at how fast this jumps around. so you've got to go further out of the money to get to the place where you can be in something and not staring at it wasn't Weren't we just looking at this at like 120? You know? So this thing is like really moving around.

Quick 164, 158, 175. you know, Next thing you know, just like that, you look away, you look back. it's at 250.. So that's that's the case with.

um, some of these stocks like Tesla and Amazon that are volatile. and their options, uh, chains are also pretty, uh, pretty volatile. which is great for swing trades as long as you can manage your risk. All right.

So enough about that. So let's look at the day trades from today. So today not only was, uh, frustrating on the swing trade side, it was also frustrating on the day trade side. Thank goodness for ntn ntn uh went up over 250 percent today from four dollars all the way up to a high of 7.76 which is awesome.

It is coming back down now, but you know, in any case, uh, still some great opportunities. There looks like a flush down to the volume weight. average price. no surprise there.

So I started my day on fat fat and this one my first trade was actually pre-market so uh, I can't remember where this was. Um let me go back up here. So the first trade was actually yeah. I was buying to anticipate the break over 12 and that was like right in this area.

Here I think it was on this micro pullback. It came back up, popped over 12 and then flushed down. I made 1800 bucks on the first trade. it flushes down and I tried to do a dip trade on it and I lost on two dip trades.

So going into the open I was up only 500. One winner and two losers. So that was going into the the market open. The market opens and this uh rips up and gets halted right here.

On resumption, it squeezed and then flushed down to 9 15. And I bought 5 000 shares and then added another 5 000 and then that went up to 15 000. I was trying to do it a bounce trade and in hindsight I thought it was going to false halt and rip back up. I thought it was like opening flush and then ripped back up and I was wrong.

It halted going down so it halted going down right here at 9 15. it resumed and hit a low of 784, popped up to a high of 9 11. I was in at 9 15 but I took the loss on it of 14 000 so that that sucked and if I look at it I mean it wasn't a very good trade. You know it was a stupid trade.

so that's a little annoying by itself because it's not like it was an A quality trade. It was just A. It just wasn't. You know it wasn't an A quality trade.

It was A. It was a poor quality trade. I took way too much risk on it and I really don't know. I don't even know why why I did that.

I just I reacted quickly. I saw it there at 9 15. I thought it was doing a false haul and I was like boom, I'm going in. Um, Igc uh Was also one of my first trades out of the gates and on this one I got long.

I got long right here for the break over. What is this? Um, I got long right here for the break over 350 and it flushed down and I stopped out of it. I stopped out quickly though. I cut my loss fast so I cut my loss on it as it came back down here.

it came back up and did a red to green move, ripped up and I got long. but then I added way too high and it flushed way back down to 380. it bounced back up to 420 but it didn't recover and I was in way too high. and so on.

That one with 30 000 shares I lost 17 000. Uh, well, I guess not in one trade because I had my first loss in the second, but two losses on it. So that was. I mean, it's like just a, you know, disaster.

Those two red trades in a row. Now, I did have some trades on Ntn in the middle. Uh, because Ntn was already starting early in the day. as you can see, it was ripping up.

So again, Ntn is my saving grace for today. Um, it's the only reason I'm not down a lot more than I am. So yeah, nice moves on that, but we'll cover that in a second. So then we have Mcrb.

Mcrb. Super frustrating because I jumped in it. Um, this was a trade. let's see.

No. Um, this was a trade that I took for the break of 27 that immediately dropped back down to 25 and I lost three grand on it. Or four grand. And then I got back in it.

In this area. right here. it popped up for a second, came right back down. I tried it again, right through here.

It popped up for a second, came right back down, and then right here. Finally, it rips all the way up to 31 without me. How frustrating. So sometimes they go, you know, without you.

and today this one went without me. So super frustrated on that one. Uh, in my last trade on Hx, I uh, was trying to do a one minute uh, micro pullback on a long right. here for break over 78 and it came back down.

So on that one 20 000 shares the bottom fell out and it dropped from 70 down to 50 20 drop and so I took a 3 600 loss on that. but again back to Ntn. This one was the one that saved the day for sure so we had some really good action on it overall. as you can see here right out of the gates from three to three, fifty up to four.

Double Top right here. failed to break the double top flush down and then came back up through four and rips up to five, pulls back down, bounces off the V-wap and then back from five all the way up to 530, then back down to the V-wap again and then from 450 up double topping at the pre at the high a day of 5 32 and then from there up to Um to 6 to 7 and then all the way up to a high of 770 or so. So I mean I don't know it was, um not a great day today for me across the board. I mean it's the second red day in a row and I have a couple stocks that I'm you know pretty deep in the red on uh none of the losses are more than twenty thousand dollars which is good you know 20 25 000 is kind of my mental like I don't really want to lose more than that on one trade and so I didn't do that.

But I did have you know, four stocks that were all good size losses. So you know, where did I? Where could I have done better today? Um, I think initially this morning I was a little frustrated that Fat was already starting to fail pre-market and I just kind of felt you know it's it's frustrating because we had yesterday such a like epic fail on Mnpr that I was just like man again like this is frustrating. We're not seeing good momentum, what's the deal? We're not seeing good follow-through And so you know as a long biased trader, I don't like to see that and it's hard not to feel frustrated. So the bell rings and it's down here.

It then rips up and gets halted. without me I wasn't in it. And then on resumption I was like okay because I was looking at this and I was thinking you know what? Okay, like it's still holding up relatively well. If this thing can rip through the V wap back to 11 and 12, I mean this might end up seeing a squeeze up to 13.

All-time highs on the stock were 1380. so it was not too far off hitting all-time highs from back here. So that's where I was like you know, above that level is blue sky so I jumped in sort of impulsively in that flush which usually I wouldn't do if I didn't already have a cushion. but I had just taken the loss on Igc, which was the leading gapper and or one of the leading gappers and one of the ones I really thought was going to work.

and so I was really kind of frustrated. I think initially that not only had I had kind of a not very good pre-market trades on Fat Fat, but then right out of the gates. this one that was like looking super strong to me, consolidating right underneath this level look picture perfect for a breakthrough 350 and a squeeze maybe you know, hauled up to 375 380. the bell rings, it drops to three bucks and then down to 281.

So I just was like God dang it. So I got out of that and then kind of. I think impulsively because I was a little frustrated, jumped right into Fat without even really taking a breath. I mean, you look at the time of this and this was like the first two minutes and then Fat was, um, you know, going into this right here at like minute three right there and then it's halted for five minutes.

So while it was halted, I switched gears and was trading other stuff. I was trading Ntn and Mcrb, which neither of those were particularly productive. And then finally, and uh, Fat resumes and I'm taking the loss on it. So just like yesterday, um, yesterday, I was down 25 000 and then recovered half the loss and finished down um, 11 000 or so.

Today again, I was. I was deep in the red on these. I mean, this is 14 000 here. that's 17 there.

And then you know there were these ones. but I had profits on Ntn so. But in any case, I was pretty deep in the red and I, you know, recovered a good portion of it. But um, you know, more than half, I guess.

But but I still feel just annoyed because I don't like spending the day digging myself out of the hole. It would just be better not to dig the hole in the first place. And so, in hindsight, what could I have done differently? Well, I mean, the very fact that the leading gapper that I was watching F-a-t was choppy pre-market It's a red flag. The fact that Igc failed right out of the gate.

So that's the second red flag. But you know that could have prevented me from buying into a halt going down on Fat Igc. I shouldn't have been so aggressive on. you know, I shouldn't have been so aggressive on it.

I should have waited for confirmation, waited for a better, you know, better quality setup. Hx. That was fine. Mcrb, I chased it.

And the problem is that we've been in a market for the last couple of months where you can really get away with chasing stuff because you know, I mean, I could have gotten away if I chased it right here. If I chased it right here, at 28 bucks, it went to 31.. But because I lost on the first chase, I didn't go. I didn't want to do it a second time.

But in the last few months, you've definitely been able to get away with chasing because stocks have just been going higher and higher And higher and higher. Irrationally Strong. Crazy Strong. Makes no sense, but it can.

It can teach you some bad habits. Um, so in a little bit of a softer, colder market, you know that's where you have to. You know, fall back on some discipline and have the discipline to say wait, I gotta wait for a pullback And it's frustrating because sometimes by the time these pull back right here, you didn't get a one minute pullback. This thing went from.

I mean, you have a tiny one here, but this basically went from 28 to 31 without pulling back. And that feels frustrating because you feel like if you just chased it, you actually would have been rewarded by the market. You would have broken rules and chased it, but you would have been rewarded. You would have made money if you followed your rules and waited for the first pullback.

First one minute kale to make a new high. You would have lost money because on this one, by that point it was too extended. So you know again, I mean day trading is not easy. Day trading is very difficult and even for someone who's been doing it for a long time because you know every day is a little different and every month is a little different and you have to be able to adapt to current market conditions.

And that's something that a lot of us really struggle with. We've been trading really well for the last you know, few months and so we want to keep doing that well. And you know we've been trading with big size or you know, whatever the case may be for you. You know whatever's been working, you want to keep doing it.

but sometimes the market's going to say listen, I know, you know Rasa I want to be trading with 25, 35 000 shares right now, but that's that. Was a market that was okay in the market where we were seeing stocks going up 200, 300 every single day. It would have been okay on Ntn today, but on the other four or five stocks I traded, it was not okay. So you've got to trade the market that you're in and you know tomorrow's Friday, it's the end of the week.

Um, you know, as I sit here I'm kind of like, man, I don't even. I don't know what I really feel like because I've got these two red days. Two back-to-back red days. Um, you know the lot.

The cumulative losses between the two are like 22, 000, 23, 000 or whatever. So 10 000 yesterday, 13 000 Today, I'm still up. I was up 100 000 before these two days, So I'm still up 75 000 on the week. which is great.

You know, I mean it's not. There's no no pity party for me. I mean, I'm still in really good shape here, but um, you know, at the same time, I don't want to come in here and just keep spinning my wheels because that's not fun. Uh, I don't want to have a third red day in a row.

You know, I need to kind of clear the slate and press the reset button. And what's really frustrating is that the only way to do that is to trade with small size. Because with small size, uh, it's much easier to get. I mean, you know, with 5 000 shares, I can get in and get out.

You know, one order in one order out. If I'm trying to take 30 000 shares. by the time I've got my 30 000 share position, I will have taken a starter of 10. I've doubled to 20 and tripled to 30..

And that'll be over the course of like 15 cents. And what I'm giving up is just selling the 10 000 shares that I bought 15 cents ago for 15 cents of profit. That's 1500 bucks with 30 000 shares. Now I need the stock to go up, not just the 15 cents, but now 20 30, 40 cents so I can start unwinding the position for nine or ten thousand dollars of profit.

But if we're not seeing 30 40 breakouts, then I'm better off just grabbing the 10 15 cents a share with 5 000 shares, then trying to keep scaling back up to 25 30 000 shares and keep either getting stopped, out, break even, or getting caught in a flush where I'm losing. you know, 5 000 or 8 000 a clip and giving up what could have been a small base hit. You know, Again, I I don't want to encourage swinging for home runs, but there's definitely a market where I think it's the right move to be more aggressive. And then there's a market where it's the right move to ease off the throttle a little bit.

and last a couple of months, it's been the right move to be aggressive. I just uploaded my Uh broker statements for the month of, um, the month of July for you guys. so I'll just pull those up here for one second. Um, so if you guys on the Warrior Trading website and you go to the footer down at the bottom, you'll see my 20, uh, 2020 earnings and broker statements.

All right. So you've got 2017, 2018, 2019, 2020. So this 2017 started with Day One of the 583 Dollar Challenge. So when I started over with 583 January 1st, 2017, I finished that year with 335 000 in profit.

Right then we roll in and those so those are the statements from 17.. then we roll into 18 which started at 335 and continued up to like 700. Then we go to 19. It started 700, went up to like 1.2 million.

Then we've got 2020 which is you know out of control total gains as if um I got to update this as of July 30th, 3.7 million, 583 dollars to 3.7 million. And so you know you go back and look at um the hot market that we had in the month of um, you know, whatever it is the month of July and it was like back to back huge green days. Well number one, I didn't have a single red day in July. Uh, I have two red days here in August but it was just like back to back 950 000 gross profit.

Go back to June, the month of June 770 000 and my main account and 550 in my retirement account. It's 1.2 million dollars. You know? I mean it was like we were just seeing huge momentum back to back and and May wasn't Uh, wasn't bad either. May was also a six figure, um, six figure month.

So you know that was a time where it was the right decision to try to scale up as much as possible and if I could do it all over again, I would. I would do the same thing. And if you know, and I would even try to be more aggressive now having had that experience. But as we come into what has been maybe the last three days of choppier markets uh, I hate to, you know I hate to accept any defeat and say oh, maybe the market's slowing down.

But the last three days one two and today have not been great. Monday was terrific. Friday tomorrow could be amazing, but these last three days have not been great. When you come in to the market you have to ask yourself, you know what's the condition, the overall market and I think based on the condition, the overall market Tomorrow even though it's gonna feel frustrating and I'm gonna feel like I'm you know, throttling myself back to say 10 000 shares is max size.

I can't go for a third red day. I can't I can't do it. I can't have a third ten thousand dollar red day. I mean, I can afford it, but I don't want it and so I'm gonna have to just reduce my share size to start the day.

And you know if I build a cushion and this and that, then all right. Okay, maybe I'll get maybe fine. Maybe I can get myself scaled up to some nice trades, but I gotta start building the cushion. And until I've built my cushion of five to ten thousand dollars, I can't.

Uh, I can't scale up to Fifteen Twenty thousand shares because when I'm in with fifteen twenty thousand shares on my first trade and then I lose, that immediately puts me red. Seven thousand to Ten thousand dollars. Fifteen thousand dollars. And now I'm on the defensive side, you know, and I need to start on the offense.

So tomorrow I'm gonna try to be aggressive building my cushion with ten thousand share trades. And then once I get up to ten five, ten thousand dollars of profit on the day, then I'll scale up to 15 20 000 shares. If that never happens, then it doesn't happen. And if I lose then I'm losing.

at least with smaller share size. So the losses will be smaller And you know we'll finish the week tomorrow with hopefully some nice opportunities. But uh, you know we'll We'll just see. So that's from the day trade perspective.

Swing trades tomorrow. I'll be glad to log into my account and not see this. um, stupid trade. uh on Etsy which is just a reminder.

Well actually I guess I'll still be holding these 10 contracts that are worthless, but that was part of one of my spreads so that's fine. It's only 70 bucks. Um, I've still got Netflix there. Um, we've got 30 or no.

about an hour to the bell. So Netflix right now I guess is fine. I would set a stop on it, but you know, watch me do that and then get stopped out at ten dollars and lose five thousand bucks because that's what just happened on Etsy. So uh, I'll go back and say guys, how's this possible and they'll say, you know, I don't know, Why don't you? You know, why don't you just shut the hell up and stop complaining Because we got other things to do because that's customer support All right.

So Netflix. Um, let's see Etsy. What else? Um, what else do we have? Uh, all right. So Tesla.

So Tesla. Um yeah. I mean I am. I do still like the idea of the credit spread up here.

The premium is like very, very low. but on the other hand, that's because it's kind of a it's kind of a no-brainer trade. I mean, the trade is basically that this won't break 1800 by the end of day tomorrow. So what do you think? The likelihood is that it breaks 1800.

I think it's low. I can take that trade right now. Someone's willing to pay me a credit here of you know about 200 bucks for that trade. so you know I can.

I can try it and I can try to set a stop on it. We'll see whether or not that gets filled, but you know the fact is. Uh, you're not going to get good odds on a trade like that because you know the odds of it actually happening are very low. You'll get good odds if you take a trade like right here at the money and say, all right, you know, what am I? What's my profit loss ratio? It's one to one.

Makes sense. This has a 50 50 chance of you know being in the money it's You're not going to get good odds. Uh, you. You know.

I mean your odds here are are better, but it's it's not. You have such a high likelihood of losing that it's not a trade that would be smart to take so over here. my limit's at 17. at 20 cents, it's at 21 right now 25.

We'll see if it picks it up and fills. Um, and again. I'd like to be able to put a stop on it, but it's only an hour to the close. so I'll just, um, I'll leave that an Iron Condor around the Five Delta.

So yeah, yeah. well. that's exactly right. So the probability of this trade right here.

Um, so the probability of the eighteen hundred expiring, uh, worthless is ninety-six percent. I've got ninety-six percent probability that this will expire. Worthless right here. So that's why I mean, this is like a Four Delta.

Now I could do the Iron Condor spread. You're right. I could go on the other side and also sell. you know, the 1400 or something like that.

And I could sell this and buy this here. That's that's well, that's too low. That's not enough credit. Um you know the thing is the the puts are really low in price because we've just had this big move up.

the calls are better price. So yeah if I go down the thing is I mean even if this pull this could pull back tomorrow off this green doji and I could see it coming back down to 1470. you know what I mean like that's not out of this world to see that. So really I would only kind of feel comfortable like around the obvious spot which is 1360 and there's no premium on that.

That's just too low you know. And I don't want to do cash secured on this because I don't want to own a Tesla at this price. It's still too expensive in my opinion, so I don't think I'll do the Condor. But um, this you know is kind of close to getting filled.

I'll see maybe if I have to adjust it a little bit, but this is. it's basically 170 200 bucks. It's not a great profit loss ratio, but it's a trade that has a high likelihood of expiring worthless. Which means I get to keep the premium because I'm selling the contract.

So starting on Monday? Uh, we're going to have options trading classes beginning for as part of our back-to-school summer school program. So um, you guys can tune in for that of course Warrior Pro students that'll be in the Warrior Pro classroom starting right around. Um, it'll probably be around 11 30. it'll be when I finish my trades in the morning.

So the issue here is that as this starts to come down, uh, the value is going to start to decline So that 15 cent mark, it's not worth it for 15 cents. I mean, and I'm not going to take 100 contracts on it. It's just, uh, you know, I'm willing to take a little bit of risk. but when you start taking a big position, your risk can go really high.

So I'll leave this order here as it sits at 20 cents if it fills in the next hour. Fine. If it doesn't and it looks like it won't then fine. You know I'll miss that trade.

And I could. I could look into next week. You know, I mean I could. I could always say you know, roll this out.

we'll just look at the um, let's see next week. So if I did this, um, down 1800 for next week, you're gonna have a lot more premium see here 80 credit. But one of the challenges with this is that, uh, you know you're going to have to. It's going to be a slower wait because of time decay.

it's going to take longer. I mean, it's the end of next week, right? And we do have the reverse or the traditional stock split that's coming. I think, what is it? The 24th I can't remember. Uh, is it? Hx squeezing up again? Yeah, I'm only a little bit though.

So all right. Well, in any case, um, I'm not going to do anything else there. It is what it is. Um, Netflix is still in good shape.

The Id on Tesla is a good idea. Maybe it'll fill, maybe it won't and Etsy would have been fine if I hadn't didn't have a stop order. I'd be up on it today. So um, can't use.

Unfortunately, I can't use stop orders with Td Ameritrade on options. which, um, you know, I mean one of the reasons that Lightspeed says they don't offer them is because because of the illiquid market of options that you can get bad fills and stuff like that. So they probably just said, you know we don't want the complaints that come with it. so we're just not going to offer it.

And maybe that's the smart move because here I am using them and just getting frustrated. Um, but whatever. So now looks like the credit is um, 10 by 10 and 14 cents on this 1800 weekly. So as this goes lower closer to the bell, I got a little greedy.

I didn't want to take 170 or 17 cents, I wanted the full 20 cents and now it's gonna go without me. So whatever. All right, Well, that's it. Uh, red day recap.

but uh, a good I think a good day for you guys. Some good lessons here and we also had a really good Warrior Pro mentor session with some live trading on Ntn. So I think that, um, I think that that's um, that's going to be helpful for you guys as well. So I hope you guys go back and watch those recordings and enjoy them And I will see you all first thing, uh, tomorrow morning for the watch list and I hope that we see some good things on the scanner.

uh tomorrow morning? Otherwise I I might not even take any trades and just say whatever. Come back on Monday, but I'll I'll decide tomorrow once I see what the gap scan looks like and um, I don't know but I might. I might just take the day off if we after I do the watch list if I don't feel like there's anything that looks good. so uh, be an opportunity for you guys to get into the classes if that's the case.

All right, that's it for me. Enjoy the last hour power hour. Hopefully there's something that gives you some last minute opportunities, but I'm not gonna push my luck. 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 you.