What's up everyone? Alright, so here we are: Day 1 of the Italian Trading Challenge First day down goal is $25,000 and I now have twenty five thousand, six hundred, thirty nine dollars to go. Today's a red day but only down $639 Not the end of the world. I'll bounce back, hopefully tomorrow morning first thing bright and early. I'll be doing the watchlist 9:15 to see you guys there.

What's up everyone? All right? So we're gonna go over the trades from this morning to our midday market recap. Today is first day trading here in Italy Fortunately, it's gonna be a wet day recap. I Think this is the third red Monday in a row, which is disappointing. but the good news is that it's a small red day down.

only about 600 dollars. But I suppose what's even more disappointing is that it's just indicative of this continued lack of momentum in the small cap market that we've seen for the last. I Guess the last week or so it really started last Monday and last month it was just really. it was just disappointing.

Well, last week Monday Tuesday Wednesday I was read: Thursday was a small green day Friday it was a small green day and then today it's a small red day so you know not seeing a lot of action but I kept a share size smaller today I Didn't go for home runs because I told myself You know what Given the fact that the momentum has been choppy for the last couple days, even something today that looks a quality is not a quality considering in the last five days we haven't had a single stock go parabolic and really explode. And on that same note, when you have a period of a couple weeks where you're seeing stocks left and right going parabolic and exploding even be quality. Setups are worth trading because you're in a strong market. but you got trade the market that's right in front of you.

and as much as I want to keep trading and I want to find something to get myself back into the green or to you know, start building my cushion on this trading challenge. I'm working on right now today, isn't it? Not the day that's gonna happen. So V V P R You can see I lost about 1500 on this one I Took two trades on it. My first trade was right off the highway scanners right here.

Jumping in at 158 for the break over 60. I was thinking a potential squeeze into a circuit breaker halt. All of a sudden it hit the scanner, it's squeezing up and I saw that there was news today. So I was like okay, you know this is a former runner history of making moves you can see on this candle.

Back here it's breaking out. it's above our moving averages. Looks good I Jump in and it immediately drops back down to a dollar 35 or a dollar 30 pops back up here but I had to stop out and so just like that I lost 1,200 dollars or maybe 1,300 on the very first trade on that stock which was really disappointing I Then got back in right here right here actually for the break over 75 thinking it would break 80 and make new highs. So my goal there was to try to make 5 to 10 cents.

It hit a high of 80 but then it didn't break out over that level so there's really no opportunity to get much profit. and then it dropped back down when sideways here and I ended up selling it kind of right in this area at 71 for a 4 cent loss on 6000 shares. so lost another $240 on it putting myself down 1500 on the name. So that was the worst stock of the day and again you know it's on the daily chart.

Looks good is opening up. It even has news today that floats about 9 million shares relatively low, but it's just not working. The one that so that was the most, maybe disappointing because it just failed right away. The one that was I would say the most frustrating was our leading gap or in the entire market today which is nerve any.

RV This one was not easy. Big move pre-market The bell rings choppiness and then fails so you know it's just like I Don't trade pre-market and it's one of my rules I wait till the bell rings I Have been doing that for a long time to prove that you can be a very profitable trader trading one hour a day from 9:30 to 10:30 in the morning. My goal here while I'm in Italy is trying to make twenty five thousand dollars US dollars. and if I'm able to do that, then in the time that I'm here I will make the amount that is equal to the average income for one year working here in Italy The average Italian income is about twenty six thousand US dollars.

So I'm gonna try to make that trading I'm gonna do it one hour a day today. It's not the best start, but of course I know it all comes down to averages. Last year finishing at five hundred grand was ten times the average income in the United States Twenty times here. the average income here in Italy and you can trade the mark from anywhere in the world from right here you know or from New York City on Wall Street doesn't matter, you don't need to be on Wall Street to trade.

So anyways, nerve, You know, just disappointing that the breakout kind of happened pre market. by the time the bell rings, it's choppy now. I Took two trades on this in this first one minute candle right here. The first trade I got in at 788 for the break bait dollars.

It then drops to 7:30 the low of this candle 7:30 no 741 and then it rips back up. Breaks through $8 and hits a high of 8:32 So I only got a partial fill of about 2200 shares. so I held through the dip down fifty cents a share down a thousand dollars. It then comes back up and as it came back up and broke eight I sold and took my profit of about five hundred and fifty dollars.

So it's like okay, that's not bad 550 I then got back in it right here anticipating the break over eight I added back at T1i sold in the 90s and like that I was up about $1,500 on the day I made another thousand dollars on this trade right here and then I got back in this right here at 90 thinking it was doing a one-minute consolidation here. I literally got in on this red candle at 90 the height of this candle was 90 and then it dropped down to 725 and like that I lost everything I had made. you know except for $120 a profit I then switched over and took the trade on Nerve I believe it would no, no, when was this I think this was after nerve so I think it I took when I took the trade on nerve. it put me down about maybe I can't remember actually how much I was down on the day or when when I took these trades.

sorry, this was nerve VV PR was the one that I took a trade on and lost on Maybe that was in between those two trades? Yeah, must have been. But in any case, so made some money, then was down like 700 bucks and then lost a little bit more giving back profit on a nerve. Small trade on Mln T only $26 Not impressive, obviously. Took that trade for the break over the half dollar right here.

It actually, you know, broke the half dollar well. I took two trays. the first one was right here. That one dropped down.

it then came back up and broke it here. Squeezed up to a high of 75. but I just I didn't do well on that one. I sized kind of wrong and didn't get good entries or good exits.

And then the last one was a Vgr a reverse split stock today that hit the hide a momentum scanner for squeezing up eight percent in the last five minutes. So on this one I jumped in, made about $750 it squeezed up to a high of 90 93. A halt on a circuit breaker resumed to hit a high of 404. it then dropped right back down.

it popped up for a second, I was able to get partial fills in the 90s and then hit the bid at 80 as it dipped back down $750 you know, not bad I guess but that was a 9000 share position. so generally today obviously didn't make a lot of progress. A little bit more red than green and I guess that's kind of a profit loss ratio issue because my accuracy I'm green on 3 out of 4 names. but the reality is the VPP are I've lost twice on Mln see: I lost one son and nerve I lost one son which leaves four losers and then a winner on a PG are a winner unnerve and a winner on Ml and T.

So I'm actually only right on three out of seven trades today. It just happens that I am green on three out of the four names, but really not super super hot today and you can see on the hide a memo scanner nothing else is really moving. I mean we're just, you know, dealing with the market being dead right now, which is tough and this isn't a summertime thing necessarily. it's just.

you know it's not seasonal, it's cyclical. We had some amazing momentum the first two weeks of June made 50 grand in two weeks, made the average incoming United States in two weeks of trading and now we've come into this little period where the momentum is just not on our side and I think what's probably causing part of the problem is that the leading gap or the last few days has been getting knocked down. nerve, leading gapper selling off a Xgt was that bit from yesterday I think it was or Friday xgt the leading gap or got sold off. so you know you sort of have this market where if you're trained at a short side, even if you're kind of wrong on your entries, the leaving Gabor's are still fading.

Now there will be a time where we see one of these leading Gap birds like a GEVO type stock that remember of the time when it was gapping up like a hundred percent. from two fifty to five, the bell rang, it got knocked down to like four dollars, went sideways, and then it ripped up, broke through. Five. Hit Five Fifty gets halting a circuit breaker.

Resumes squeeze is higher. It literally hit a high of twenty one dollars within a period of less than an hour. So you know the stock all the sudden took off and just exploded was up five hundred percent on the day. Well, that's what long biased traders like myself love.

That's amazing opportunity. And you know what creates that incredible opportunity is the fact that people will be shorting that stock early in the day and early in the move and they'll get squeezed out and they'll be forced to cover it as it moves higher. And that's gonna create double amount of buying pressure. buying from long traders.

FOMO Traders triple buying power and buying from short covering. What you're seeing right now is sort of more of the other side where everything that pops up seems to fade and so short sellers are more aggressive about hitting things to the short side. long traders are more conservative rightfully so. I'm being more conservative with my share size I'm not trading with fifteen or twenty thousand shares.

you know I'm trading with six to nine thousand because I know that half of these stocks. Yeah, maybe they'll squeeze up five or ten, twenty to twenty cents and I'll get a little profit, but the other half are just getting hit and knocked right back down. So it's not the time to be super aggressive and it's a hard thing to really embrace because as traders, we feel like our job every single day is to make money. And you know again, looking back on last year, obviously I finished the year in really great shape, but I did not make money every single day of last year.

I wonder if I actually have the metrics of how many days out of last year I was Green and how many I was red just out of curiosity. Let's see if I can log into Trader View if they have that metric. you know cuz at the end of the day it is all about your averages. But for us I know for all of us who are traders, it feels on any day to be red like such a defeat.

And if you're red three or four days in a row or you have a red week or red month even it feels like you're just you know, kind of at the bottom of you're sort of emotional confidence. But the thing that will make you feel better is just reminding yourself that it always comes back. momentum always comes back in the market. So even if we have slow periods and we can't make a lot of money, it always comes back.

And then during that period when it's hot, you can make more than enough to cover up the losses. So let's see. So let's look at winless Lost Days for 2018. So okay, so there's 179 winning days last year and 56 losing days.

So 56 losing days I Mean you know, would have been terrible to have them all in a row, but that was spread out over the course of the whole year. So about 200 And let's see you know, 230 trading days of the year? Just about 200? Something like that? 25, 20, 30, you know? But it wasn't without red days. And on those red days those 56 red days combined I had $200,000 in losing trades. My accuracy on red days only 42 percent, You know? So Tiger See is not hot On red days, you know, makes sense.

Average losers. The this is what I don't like to see is that the average losers are so much bigger than the average winners. You know, even on a red day, you'd like to see a better profit loss ratio just to show you that you're managing your losses a little bit better. But of course, then on the winning day is a solid two to one profit loss ratio.

75 percent accuracy on winning days and 767 thousand dollars of profit on the winning days. So the net profit is the combination of the two minus commissions. but you know, just kind of as a reminder for you guys who some of you are newer to trading. and you have a red day or a red week and you feel like the sky is falling.

it'll probably still feel that way even after months and years of being profitable. but you learn to keep it in perspective that it's only one day. it's only one week, it's only one month. and you know month of the year.

Let's look up here at the calendar for 2020 18, 20, 18 calendar right here. watch I wanted to see it. well even see February was terrible I mean absolutely terrible and what I was going to show you there was that I was read in the month of February last year and I remember feeling like oh my gosh, this is terrible I'm you know, just had my best. The best month of my career, followed by my first red month in over a year of trading.

What's going on? It was just one month, it was an anomaly and I bounced back. The summer was pretty good June July were fine August was slow September was slow but things picked back up. So this is the the AB and the flow and the AB and the flow. That's just part of the deal with trading.

I'm sure would be nice to be able to just get paid the same exact amount every single day we come to work. but to get that, you've got to compromise and that would be basically accepting working of it like a nine-to-five job instead of being your own boss being your own boss. no matter what the job career is, you've got those ups and downs. Being a freelance contractor, you've got projects and things slow down.

You know you get a new project and then you have a dry spell. Think it's just kind of get slow and we give up the security for that freedom to be able to make our own schedule to be able to. For those of us that have jobs that you can do from anywhere in the world to be able to do it from anywhere in the world. and it takes that sort of emotional fortitude to be able to see through the red to see through the choppiness out to the horizon and other things will always get better on the other side.

So I Hope that makes you guys feel better. Those who maybe are also read the last couple weeks or the or yesterday or today or Friday or whatever momentum will pick back up and when it does, you'll see me in you know, mornings where we get a couple hot stocks and I'm gonna make five ten thousand dollars within the first 15 minutes of the day. You guys know it'll happen because it's happened before and it will happen again. It's just the way it goes, so right now can't be super aggressive.

have to kind of hold back. be more conservative, you know? Yeah, I probably could have finished today up 500, maybe $1,000 if I hadn't jumped on. Vvp are quite so fast and if I hadn't gotten back in nerve. So a couple of slight adjustments today could have been the difference between being red and green for sure I could have been green today and for that I'm a little disappointed, but today was not gonna be a home run day.

Today was not gonna be a $5,000 green day that just wasn't going to happen, wasn't in the cards Anyways, that's it for me. I'll see you guys first thing tomorrow morning. Well would be 3:30 in the afternoon here when the bell rings. but we back at tomorrow and we'll hope to see some nice stocks on the scanners and hopefully we can lock up a green day.

All right. See you all first thing tomorrow morning. Bye everyone! if you're still watching, you must have really enjoyed that video. So why not subscribe and get email alerts any time? I upload new content.

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