What's up everyone? All right? So here we are Friday morning I busted out the raccoon shirt I've got my Grateful Dead shirt underneath it bringing all the good luck and guess what? Today we had a 100% mover. finally our kDa taken off and you know I Here I am I'm the idiot that somehow managed to lose money on it I made $1,000 1200 AD the kind of breakout right around a circuit breaker Hall which we'll talk about during the recap and then I went back in for seconds, tried to take another trade on the break of 450 half dollar break. false breakout flushes down and get back all my profit. drop into the red and I said that's it I'm done.

So I'm taking this thing off I thought it brought good luck now I'm not really 100% sure I'm just gonna work the rest of the day with this shirt and trying to let it go. This has been a week of terrible no, no good follow-through The one big big opportunity I end up screwing it up so that's August raining so that's all right, you know I'm just gonna put it behind me from every loss is a lesson. Soak that in. Enjoy the recap today! I'll see you guys first thing Monday morning.

all right everyone So we'll do our midday market recap here. Super frustrating for me on our kDa I finished the morning up about a thousand bucks on it. This is a this is the stock that was right off our watch list and we knew it was probably gonna be tricky right out of the gates. The bell rang and it sold off.

I didn't take any trades on it and I didn't take any trades until my first trade right here right around 1005 it squeezes up, breaks through the view app and gets halted going up. Now at this point I already had like 10 million shares of volume. it was pretty crowded but I did jump in coming out of that first halt and my first trade was a break over $4 I made 200 on it and then I got back in right here for the second break over for and made about a thousand. So I was up about twelve hundred dollars on the stock.

It then sold off from a high of 428 all the way back down to 364 which I thought looked pretty bad but it bounced right back up and went back too high a day. I mean I was impressed I was really surprised but then off of high a day it did this red shooting star and it failed. So at this point I didn't take this trade I did not take this trade and I didn't take that trade I left it alone for a while I let it consolidate on the 5-minute chart and really proved some strength and then as it curled back up right here this is where I started to get interested again because I was like alright, this thing is actually holding up and we've got room up to the five dollar gap fill here in the 200 moving average. So I started thinking that if this broke over 55 that this would give us a nice a nice breakout and so I got back in it and I went a little aggressive on the share size right here as it broke over actually was right here as it broke over the half dollar, it broke 50 and I was like you know, 360 thousand shares of volume coming in in this one-minute candle.

I jumped in and then it flushed down here at 27 and I stopped out and I went from being green on the name to red on the name and then it rips up to 75. So what a slap in the face man. this stock has been frustrating. It's it's up 110 percent but boy when you get chopped out like that, there's it.

There's almost nothing more frustrating because you had the right idea and the timing was wrong and I had confidence in this one. the fact that it was holding up this well I really thought this was gonna make that bat move and but I had to respect my stops. just like traders right now as its dropping, you have to respect your stops because it can go down a lot further. I mean this thing can come back to the View app of 370.

You don't know how far it's gonna drop and so you follow your stops, you bail out and you know this is a stock of nearly 40 million shares of volume is tug of war. We're not singing I mean we're seeing volatility, but we're not seeing. It's not parabolic. it's not going straight up.

The biggest move here was right in this area and and it actually would have been really difficult to trade unless you were watching it at that time because it took off so fast. So I'm very disappointed that I went from green on it to red. But I'm gonna respect my rules of the max loss and say that you know I'm gonna live to trade another day. I'm not gonna revenge trade this stock and try to make back what I lost on it.

you know? hey, the market still is open for a couple more hours. I You know I could keep trading. That's not a good idea. The smartest thing for me to do at this point is just to step aside if the markets rough.

If you get shaken out a little bit, step aside. you know as I look at sort of where I'm sitting on the month you know I just kind of keep having small loss. I mean this. This for me is I would consider this to be a small loss because my daily goal is 2,000 So to lose my daily goal in one day is not a big deal for me.

You know it's gonna put me down around five six thousand on the month right now and that's obviously not the right direction, but at the same time I Look back at my last hot streak and on my last hot streak I Made $27,000 in seven trading days. a hot streak before that I Made fifty five thousand dollars in ten days, averaging five thousand a day with $21,000 being my best day. So hitting five thousand $7,500 days becomes a regular occurrence when the market picks back up and in the meantime I do have to try to keep the losses as small as possible because at this point that first green day that first really solid Green Day is gonna have to make up for these last, you know, five or six kind of smaller red days and I really wish rather than getting me back to break-even that Green Day was gonna put me, you know, nice and big in the red in the green, but that's not gonna be the case this time around. Those of you who have watched me trading over the last, well, two and a half years of this small account challenge or over the last five plus years I've been putting videos on YouTube You've no doubt seen me go through periods of incredible hot streaks, making more money than even makes sense I Mean Ridiculous.

Green Day's Thirty Forty Fifty thousand Forty thousand dollar days I Mean you've seen it and you've also seen me go through periods where you know I've kind of had this type of stretch where I haven't had a lot of homeruns stocks that usually I would trade and get have big wins on like this: I stock it up a hundred percent I don't have profit to show for it, You know it. It ended up being, you know, a choppy. a choppy stock you know, took a lot of trades on it, but you know, wasn't able to turn that into, you know, into some decent profits. So you know this is no doubt part of trading any.

It can get frustrating when you have a series of days where you know things don't line up quite right or where you're too aggressive and I'll be really proud for all of you guys who finished the day green on Arkady a who knew the right time to take your money off the table and I should have just done it I said I was like I'll probably just I'll probably just finished a up twelve hundred dollars but you never know. Maybe we'll stick around and the only reason I was really sticking around was because I know that I'm red on the month and I felt like I got to put in a little more time here to try to you know, turn the month around and instead of turn the month around I just took another step back. Now on the one hand, there's a little FOMO in there. you know? which is you know, the fear of missing an opportunity past my peak time of day.

On the other hand, there is a part of me that genuinely feels like there are opportunities in the afternoon that usually I kind of have the approach of I did well enough in the morning. I'll focus on other stuff in the afternoon. And it's not because I don't think that there's money to be made, it's just that I prioritize my time to trade in the morning and then you know I have other work in the afternoon. but because the morning trading hasn't been getting me where I want it to today I was like, well, if Arkady a is the biggest moving stock of the entire week which at this point it is, then you know, let let me maybe put in the extra hours and watch this thing and and see if maybe you know I if it's the one strong stock of the month that you know ends up breaking five and going to six and seven I'm gonna regret that I didn't spend an extra couple hours watching it because we're at a season where there aren't as many opportunities.

so when they do present themselves, you got to dig deep and try to maintain discipline and trade a little longer if you can. And I did that today and unfortunately I had the right idea. This was not the wrong idea for a break over 55 I just had the wrong timing I was too early and because I used relatively tight stops I had to flip out rather than hold through the pullback. I do I will hold to certain pull backs, but on this one I've seen it do some sharp pull backs and so I knew that this isn't one that I should hold through the pullback and think it'll probably come back up because it could just as easily not.

And then as it dropped here I don't want to hold something down 50 Cent's that's not gonna work so you know, Whatever it's it's It's a little disappointing that the price action wasn't better on this one, that we didn't get strong breakouts that on the one-minute chart. you know. let's count the false breakouts for a second. No full screen the one-minute Let's go back to the beginning of the day.

So false Breakout: red to green move right here. That was the first one. This not really a false. I Mean this was kind of false breakout because it broke above three and it looked like it was gonna work and then it flushed down to the short side.

So that's the second false breakout. This was very strong. This was a false breakout right here. Third false breakout.

This retest back up to the high was not a very well sustained one. so that's probably a fourth false breakout and this would be the fifth one and this would be the sixth one. This was a really nasty one right here that was. That was not pretty through here.

This is just sort of choppy and then, yeah, that was a really nasty one and this was a really pretty nasty one as well. And this was just a fail. So you know this is a stock that I'm sure I'm not the only one that got you know slapped around a little bit by it and you know it's it's just it's just kind of part of the deal. Ultimately, any day that you can walk away, read and say you know what I walked away at the right time because if I had kept trading I just would have gotten myself into trouble.

You deserve a pat on the back and doesn't feel like it because you're finishing the day. Red and being red is never what you want. But um, you know it's certainly better to have a small two thousand dollar red day for me then have an $8,000 red day. I Mean let's talk about my worst red day of the year.

I mean I Don't know if I want to talk about that day actually, but there was a terrible day, but you know I Just look back here. Here's a day in: March I Lost $5,800 $5,800 Here's a day. Let's see: Inmate May: I had a day where I lost seven grand another day where I Lost five grand June Here's a day where I lost nine thousand dollars now mind you I'm still up two hundred and sixty five thousand dollars on the year Two hundred, Sixty five thousand dollars and it's August I still got September October November December for really strong months ahead of me. but um, you know to get to that two hundred and sixty five grand I have have had a few red days July There's a day where I lost five grand.

There's another day where, um, let's see. back here in: June I lost 14 grand So in the last week in the last five days of trading, yeah, I've lost about five. six thousand dollars. mm-hmm and I guess I would say that I'm actually pretty impressed that despite the market being is difficult as it is, I've been able to keep the losses as small as I have because losing five grand over the course or six grand over the course whatever it is of a week for me boy, I've done a lot more damage in one bad week than that.

I've had a bad week where I lost 20 grand, you know? and that comes with the territory of trading. With big size, you don't get to two hundred and sixty thousand dollars on the year taking risk. You don't make $500,000 in a year without taking risk. So it's all about risk versus reward.

My worst week of this year. My worst week of this year. Well, it was definitely in March I'm not sure which which of these two weeks was worth worse this week I was down 15 grand the third week of the month. So $15,000 is actually the worst week of the month this year.

That's a it's a bad week Yeah, I mean I was down in the month on the the entire month. but I actually made money the first half and then lost money the second half. So yeah, a $15,000 read week now I had. What's interesting on this week is that I made 8,500 on Tuesday I lost 28,000 on Wednesday and then I made back 6 grand on Thursday and Friday So it was.

You know you've got fourteen thousand dollars in profit and twenty eight thousand dollars in losses. It does build character, no doubt about it. something that I'll remind you guys and I was really going through it. in In March I was telling myself where you are today is exactly where you are meant to be.

I was a day away from crossing over the $583 to 1 million dollar goal before I lost that 28 grand. and what I realized was that there was a another lesson that I needed to learn in this journey before I could cross that level. And you know this is the very real human experience of ups and downs and the market. You know you see it every single day, So you're gonna have this in life and ultimately this all will make you you know, a little bit wiser and a little bit more tolerant to the ups and downs you experienced in other areas.

To be able to get beaten up and get back on the horses is life. So we do it every single day. As a trader, there's other careers where you're simply not forced to experience these ups and downs in the same way that we experience them as traders. When you're when you're up, you feel like you're never gonna be down.

When you're down, you feel like you're never gonna be up again. You know that's the that's the, that's the saying. So you just you have to find equilibrium in that and be able to get through without getting shaken. And you know, no doubt.

two years ago when I was in the middle of my $583 challenge I set the goal at a million dollars after I crossed over a hundred grand I still had 90 percent of the way to go. you know what I mean like I was at a hundred and ten thousand and I was like okay I've got eight hundred and ninety thousand dollars to go I I Believed that I could do it but I was only ten percent of the way there I had a really long way to go and I was you know I was I was I was been nervous about it and it unfortunately became a six month long stretch of really slow trading. It was from May until like September that I didn't make a lot of money so you know I really quickly made about a hundred grand and then I got it up to like a hundred and twenty or I don't know whatever was and then from May until September I only made another like thirty thousand dollars. so you know I was like jeez man I really put myself I set the bar a little too high a little too soon I'll plum full of my metrics here we can just take a look.

all right so reports view. we'll just look at Sheehan uary mm so team to December So this was the small account challenge here. you know, not a bad year and not not a bad year at all. If I can make another hundred grand this year, I'll top out that year which would be great.

but let's look at the win-loss expectation because this was this was the year. I could have walked away right here and come back right about here and skipped if I could have skipped out on all of this cuz this. this was the stuff that builds the character. This was the stuff where you learned the discipline.

This was the stuff that was not fun. I mean this is a one month long period? Yeah, I turned $583 into one hundred one hundred ten thousand. a little bit of a pullback here below a hundred and then back up here to about a hundred and thirty six. drop back down to 117, back up to 120, back down, back up here, back down.

It felt like I wasn't making a lot of progress. Here's a one month stretch where I was basically flat right. even longer, that was a two month long stretch. Okay, and I was just keeping my head above water.

I was just trying to keep my head above water. Survive too. You thrive knowing that I will thrive when the markets strong. I'll survive when the markets a little slow and then look at this.

we opened back up. I Mean this is incredible. This is the month of November in 2017 and a little bit of pullback, you know? I went from up 300. I gave back.

was that a 17 grand. $17,000 in the red over the course of two weeks and then right back up. Finish the year super strong. So you know you never know when you're gonna have the AB and the flow.

It's not like it's not necessarily seasonal, you know it can. It can catch you by surprise and and that's just that's just part of the deal. so you know, buckle up your your on the ride, on the journey and right now I'm kind of in this type of period here. If I go 7-6 19 to whatever sure see if that will filter that you know this is kind of where I'm at right now.

You know it's like you know was up and down and up and down. this is just in the last two months I mean maybe would go back here to the beginning of the year. get a little bit of a better picture of the the year and its whole. You know this year's been a little tougher for me.

You know I mean you I'm transparent. this is you know. Full disclosure: I've had years that have been a little easier than this one. This was not super fun right through here.

I Would say this was primarily self-inflicted was completely avoidable I was too aggressive at the wrong times and started swinging for the fences and you know, had some strikeouts. That was my own fault right through here I was a little too aggressive. This was the beginning of the Italian trading challenge. I took a trade where I was up 15 20 grand and turned it into a $10,000 loser with down 14 grand on the day.

Could have done without that. So you know that was self-inflicted That was that and you know it's one of these things you know. I've when I teach you the Strad you want to teach you the templates of how to trade the market. You know you're then on your own to trade the market based on the strategy and we all at times deviate from the strategy.

It is not within the strategy. To swing for the fence is the way I did here or the way I did here. However, sometimes swinging for the fences works for me and sometimes it gives me a 40,000 dollar green day like it did right there. So you know I've I've gotten into the habit of occasionally deviating from the strategy and taking quite a bit more risk than I probably should.

And it, you know it pays off more than a dozen, but this year's been a little tough right here here in June and July right now. or August right now I'm down six thousand off of this level. So I'm I'm like basically right here. I'm not I'm just a little bit below the low of this three twelve.

so like right here. so that's the last week. All right. So let's keep things in perspective.

You know the strategy works. Sure, I could adopt secondary strategies and things like that. Those you guys that want trade large caps you can trade them with Mike he's the expert there and I don't want to step on his toes by trading large caps in the small cap room. You want to trade futures.

Go trade them with Steve You know you're welcome to learn additional strategies. I'm I'm the type of person that I feel like I'm can be really good a couple of things and I can't be really good at a ton of things. So I just try to be really good at one thing and when that one thing works really well, I'm gonna I'm gonna kill it and when it doesn't work as well I have to be patient and I have to slow down and you guys are welcome. Someone like John Elton I've been truly impressed at how well he's been able to trade multiple strategies.

Some people really can do it and it's in their nature. for whatever reason that they can. They can flip the switch and and and do two different things at the same time. I mean it's like listening to Bob Dylan played the guitar where he's like maintaining almost like a rhythm guitar while he's doing while he's finger picking a solo.

I mean it's incredible. You know how you could possibly maintain two rhythms at the same time and yet you know someone who's just at that level can do it. And so some people can. And I personally, you know, do you know I can do my one thing but then I'm not super good at getting outside of that.

Speaking of which, today is the 24 year anniversary of Jerry Garcia passing away and I promised you that I would tell you the story of where I was when that happened. So 24 years ago I was 10 years old and me and my mom were on a road trip we were driving to. We were driving from Vermont from Brattleboro Vermont to Anchorage Alaska which those who haven't taken that drive it's a pretty long drive and so what we did was we had a Toyota Corolla and it was our it was my friend's car his family was moving to Alaska and they they didn't they didn't want to ship their car and I guess they didn't really want to sell it and so they said if you guys want to drive it you know we'll we'll pay you some gas money to drive it and you can. The car was filled with their stuff and you can you can drive it and so my mom and I took the drive and my sister and my dad stayed home and it took about a month and during that drive we're listening to radio a lot and the Grateful Dead was on some of the stations not all of them out in the Midwest but the news came August 9th a he had passed away it was and I we were on that trip we were driving and they did a so like a radio can't remember the name of it but they did a radio special of you know playing some of his some of the greatest songs that you know he'd been known for and it was it was.

It was pretty cool so you know I was ten years old and I never got to see them play live. My parents didn't ever bring me to a concert, but I've seen Dead and Company and some of the various iterations of the band and they're pretty incredible. So yeah, encourage you guys to put on a a record if you have one and actually that is one of the first rack my parents had records and that was one of the first ones. I think was working Man's Dead that that that I played.

you know he had records like you'd play them just over and over again. So yeah, I have some fond memories and that music brings brings those back. But here we are 24 years later and I I don't think I pictured I'd be a day trader. you know, today as an individual day? whatever.

it's not not the best day of my career, but um yeah, it's kind of funny how how life can you know give you some surprises and that whole saying earlier I am today exactly where I meant to be. Through the frustration through the ups and the downs kind of on the you know downside of this little pullback. this is where I meant to be right now and out of this. I will learn something about myself about my trading that helps me take it to the next level and I may not know.

You know all the reasons that I'm going through this pullback right now I may not know you know exactly why I had to lose 30 grand before I crossed over the million dollar mark. Maybe I won't know until you know a little further down the line when I look back and I think boy that it was really that that that was when things started to change and sometimes that's not the case. But from every loss is a lesson and you know that's the thing that we just try to keep reminding ourselves as traders. So you lose a little money and you gain a little wisdom.

All right, So that's it for me. Anchorage was beautiful I enjoyed British Columbia and the Yukon driving through there on the Alaskan Highway was pretty incredible. It's long stretch of road so yeah and you know that's kind of with people that follow the dead around. it's all about getting it's the it was the 70s, 80s and 90s version of being on the road you know? Jack Kerouac So some cool stuff there.

but anyways I'll let you guys go and I'll probably jump on some point over the weekend on YouTube live and Facebook live and at some point tomorrow I plan to jump on and and do it and ask me anything session from the house so you guys who are hanging out tomorrow make sure you get tuned in and I'll see you guys hopefully I probably sometime tomorrow really afternoon. Alright, enjoy the rest of the day. Everyone will see your first thing of course on Monday morning and I'll catch some of you on YouTube and Facebook tomorrow if you're still watching. You must have really enjoyed that video.

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