Hey everyone Alright, so today's gonna be another red day. Recap: This has been the worst week in fact I think of my entire trading career and I suppose that's relative to the fact that I've never, you know, had more profits than I had up until just before this week. You know it's kind of how it always is. Like, you know, because you're constantly growing, growing, growing, growing, growing, and so you know you finally get that pullback.

It's like, well, it's at the top of this really long run. So of course that pullback could end up being the worst pullback you've ever had. It's kind of like if you ever put money into your 401k or something like that, you know it's growing, growing, growing. and then like in December when the market drops ten percent, you know the drop in that 401k is probably the biggest drop its ever had.

Because of course, right up until that point, it had the most money it had ever had. And you know that's kind of like for me, having grown this small account and gotten myself so close to this million dollar. you know, finish line. I've never had an account really bigger than what I have right now.

In terms of you know, historical profits and even buying power both my accounts. I've got three active accounts right now and they're all pretty big, so you know I I Think that this sometimes lends itself to being, you know, getting a little bit more fixated on the size of the loss rather than keeping it in perspective. So it's another read. Date: down 16 grand it's disappointing for sure.

That's obviously another pretty bad week. lost 28,000 last Wednesday we could go today down 16 grand Today lost about 6 grand on Monday So you know this is like almost a $50,000 drawdown on my account. forty fifty thousand I'm not sure exactly where it's at I got a you know look at all my numbers and stuff, but you know I've made money on Thursday and Friday which was good by you know it was basically like lost on Wednesday made it a little bit on Thursday Friday and then gave back what I made on those two days on Monday and then today just went one leg lower. frustration for sure.

I'm kind of in uncharted territory here, having you know, never had really this big of a loss in such a short period of time. Certainly have had big losses and my worst day ever was a $30,000 red day and it took definitely a couple months for me to bounce back from that. It didn't happen overnight. Now I'm at a place where in a really good week of trading I might make fifty or seventy-five thousand dollars.

so you know these numbers are like yeah, obviously it's not fun to lose 50 grand in a week of course I know at the same time a really good week I can make that much and you know I'll tell you that making that much doesn't feel as good as losing this much feels bad. Like in terms of emotional extremes, the up of making fifty thousand is here. The down of losing fifty thousand is like way down here. but that's just part of the deal of being a trader.

So you know the more all the story is that I'm back in boot camp I'm in Trader Bootcamp right now to go start tomorrow. Tight restrictions on my account just until I can clear the slate. I Thought I was clear, but I think the loss from last week isn't out of my system yet and I need to spend some time trading with small sighs. So that's how I'm gonna finish up the month of March and so I'm gonna start the month of April and you know we'll see where I'm at at the end of next week.

But I need a period of time just to clean clear the slate? Kind of put that loss behind me. You know, get a better read on the market. I've been sort of aggressive at the wrong times I've hesitated at the wrong time. so I'm kind of like just a little bit out of sync.

and you know then once I've got a period of sort of resetting, maybe mid April I'll start to feel a bit better. Maybe the market will be strong and things will start to open up again. But if I keep doing what I'm doing, that's not gonna work because what I've done the last week hasn't been successful. So I need to step back I need to adjust the Strad slow down, stop trying to focus on hitting homeruns I know I I tell myself not to.

And then of course today I was trying to hit a homerun again. so you know I need to really, really pull it back. and the only way to do that is to bring the share size down and put myself in boot camp. Force it to happen and it's a punishment.

I Mean it really is a punishment, but it's designed as a cure. It's designed to help get myself out of the rut and it's what I've always done in the past. so I've had a really bad month pretty much any time I've had a red month I put myself in a boot camp the next month. So I'm gonna be red here in March no way around it down about $25,000 on the month, making it my worst month in more than five years.

but you know that's okay. I'll bounce back from it I always do and it'll start with boot camp tomorrow morning 9:15 All right. So I'll see you guys in the morning for pre market analysis. We'll start trading soon as the bell rings.

Small size for me, maybe make a couple hundred dollars if I'm lucky if we have some good markets and that'll shut it down. Back at it Friday Morning all right I'll see you guys in the morning. All right, So found for them To our midday market recap here. Go over the trades from this morning.

Today's a day where we had kind of again an interesting gap scan I'm gonna go here. Timeframe: Historical 9:25 A.m. leading gapper this morning RBZ Alright so this stock was up 87% by the time the bell was about to ring. but as you can see, the bell rang and it dropped from 16.

I mean it popped up for a second to 18 and then it dropped really hard all the way down to about 12 dollars. So it dropped about 6 dollars per share which is a really kind of nasty drop. And of course this morning we had. We knew that hunt was halted on a T12 ya pop-up screen share for you guys hang on one second.

So we knew that hunt was halted on T12 halted pending providing more information to the exchange. so this one was certainly not going to be on watch. We knew that D car the DC AR had done a secondary offering in the morning so that one was not on watch and CTRM squeezed up all the way to $21 this morning. but then by the time the bell was ringing was down here at like $14 I did take a trade on this one right in here and made about 2 grand on it.

but but that overall it's weak So what you'll notice here our Gap scanners today. you know for the most part the stocks on it failed RBZ fail Sx TC Mega fail. I mean this is like a really nasty fail. This one just went to 9 and then straight down to $7 and then down to 6.

This one is you know almost going to be red versus yesterday's close. so that's S XTS CTRM You know red ji lbs this one I wasn't watching too closely but it's Red Ship and this one I traded and look at this rejection from 750 all the way back down to $5 So you know what? I Was really hoping we would have today was continuation of yesterday's momentum and we didn't get that. So my watch list this morning was Sx TC R Bz Sita CTRM and I had G lbs and ship on watch as maybe trades but I wasn't really sure about them. First trade out of the gates was on S XTS so we pull up this trade gonna be down 16 grand today you know? Which makes it my third red day in the last week which is disappointing and the bulk of it is getting slammed on SXT S or S xt C this one I got into out of the gates for a Gap and go trade break at the pre-market highs and you know well you can see what happened.

This just dropped a dollar per share 9,000 shares down. You know about a dollar 20 cents per share? so you know. got in around 8:50 stopped out around you know, 750 and it just it just dropped so fast. I mean this is just really difficult stuff to trade and you know on this one.

I I jumped in it and it did pop up here to a high of 924 and I was like okay, you know I got it in this first. cam blows like alright I'm up like 50 cents per share. it's 70 cents per share and I think that unfortunately I've been in this I've been really struggling with the mindset of trying to have homeruns trying to hit really big trades. Really disappointed that I didn't have any profits yesterday, you know? I sat on the sidelines while these stocks made really big move and then you know and Dan I'm gonna go ahead and correct you there buddy.

Um, I'm still up a hundred thousand dollars this year I took five hundred eighty three dollars and turned it into what is right now about nine Hundred and Fifty thousand dollars. Nine Hundred and Fifty thousand dollars. So um, you know this is a strategy that is. It works.

But you have to be willing to be aggressive. And being aggressive means you take risk. You don't turn 583 dollars into nearly a million bucks without taking risk. You know that's just the way it works.

so you know If you wanted a low-risk strategy, certainly this isn't it. Day trading is not low-risk It never has been. But you know for me, it's all about being aggressive. and you know I've had days where I've killed it.

You know I've had days where I've made $40,000 and then I've had days like today where I'm down 16 grand. The reality is a day like today is an in-between day. It's a red day. It's a good-sized red day, but it's not the worst red day of all time.

It's it's just a red day and this comes with a territory of taking risk and being aggressive. So anyway, so SXT see, let's see right here. So jumped into that I jumped into it like I right up here first camel to make a new high. we popped up and I could have taken profit on this.

You know I could have easily made $4,000 of profit on it, but it didn't sell it because I was looking for a bigger move and of course on this one. I was looking at the daily chart. this stock is a former runner I made about $22,000 on it trading it in January So it's a stock I've done well on in the past former runner history making big moves with a clean daily chart and so for me when I looked at this I you know I was like you know what? this one looks like one and you know that really has some potential. You know this is the type of thing that I like to that I like to try to jump on and you know when I can.

So daily chart room from 8:47 with really no resistance up until two three dollars so you know that was the back of my mind potential that you know if this one started to open up and we've got a lot of room. But as you can see big rejection here, the one minute pullback you know first cow makes a new high and then flushes down here and I stopped out down here at seven seven fifty so you know that was obviously a disappointing start to the to the day and I was like well now you know what am I going to do down ten thousand dollars in the first two minutes of the day? Should I just walk away? Should I just stop? Should I just throw in the towel and be like I'm done and that's something that I I never really know what the right answer is on that because you know when you hit your max loss in the first two minutes. Obviously it's still very early in the day. It doesn't mean that there won't be a lot more opportunities as you get further along, you know.

But on the other hand, when you start red, sometimes it is a good idea just to go ahead. and you know, throw in, throw in the towel so you know, whatever. So SXT see and took the loss on it. you know it is what it is next.

trades on CTRM CTRM I jumped into it coming out of that halt. this popped up here as you can see right here. We got a little one minute pullback and I scalped it from 1650 up to a high of 1850. I only took 1,500 shares on this and made more than a dollar per share which was a really you know solid trade.

So happy with that, You know that was a nice little scalp and then from that point on it was pretty much watching the hide a momentum scanner. So let me go back. I restart my computer a little bit ago so let's see and go time frame will go to this morning. All right? So CTRM yep, okay so pops up.

Okay so ship pops up Shi P you know and I looked at and I was like I'll give it a chance you know I'll give it a chance and I jumped in it at six dollars and 40 cents. So I'm in it right here as it's squeezing up I Jump in It squeezed up to seven dollars and sixteen cents and it's halted All right. So you know I jump into it I'm up on five thousand shares, about four thousand dollars. Well, on this one again.

I had that choice. Take the profit or go for a bigger win and on this one I was thinking, well, you know, given what we've seen yesterday CTRM Hunt I Think there's a good chance this is gonna go into a second halt and it's gonna keep going. So coming out of the first hall, it dips down for second as it pops back up. I add at 7:25 it's a high of 736 and then drops back down to 630 and my new cost basis now is 670 with 9,000 shares.

So I stopped out right here and end up turning a $4,000 winner in to $4,000 loser because I was swinging for a home run. you know, and this is where emotion can get the best of you now I am right now kind of in somewhat uncharted territory. and the fact that in over the course of the last two and a half years of trading, this is the biggest drawdown that I've had. and if I show you my let's see, where's the liquidity that that one, um, hang on let me just.

I'm just pulling up trader view here just to give you a perspective when loss expectation. Here it is so you know this is these are all my trades you know, fully verified will do just from January 1st 2017 so we'll filter that so you know over a million dollars before commissions but whatever. So anyways and this is where I was sitting at the end of last month. I upload all these metrics each month So as of the end of last month, my Cute! My biggest drawdown during this challenge was $24,000 All right.

So that was the biggest drawdown that I've ever had that was on May 1st 2018. So we go here May 1st 2018. that was that was right here. Okay so right at that point when I was up about $600,000 in this account I dropped down 25,000 and that was my biggest Rhonda and now you know up here I'm down in the last week you know over $40,000 I'm not exactly sure I got a we'll have to pull up my metrics to see where I'm at.

So this is my new kind of biggest drawdown that have that I've ever had or that I've had since I've started this challenge and really kind of in my modern you know career as a trader the last like four years. I haven't had a drawdown this big so you know I went up to nine Hundred Ninety Four thousand dollars. You know now I've dropped down here to about 950 thousand or whatever. So you know this right here has been the last week and you know of course the way I look at it.

This is all I'm looking at is that man, you just hit Nine Nine Ninety Four and now you've dropped to here. You know this is Tom Brady dropping the ball. you know at the Super Bowl it feels like such a disappointment. You know all the pressures on to cross this level right up here and you know I I Screwed it up and now I'm gonna have to dig myself out of this hole.

And of course, even this week it's been like, well, you know I'm down like you know, 20 grand, 25 grand, you know? I Can just kind of stay focused, get a couple really good trades, but that's been a combination of kind of like hesitating yesterday I hesitated on some stuff, missed some opportunities today I jumped aggressively on opportunities, but they didn't end up working. You know, So it's like that's the frustration. Now you know. When you step back and look at the bigger picture, you know this is where I came from just over the last two and a half years.

So all things considered, Yeah, damn, the strategy works pretty well. but it doesn't mean you won't have losses. and there's no strategy that doesn't produce some losses. I Mean that's just if you're looking for something's gonna be right a hundred percent of the time.

go ahead and put your money in a savings account. But if you put five hundred eighty three dollars into a savings account, you know, two years ago I don't know, Maybe you'd have like six hundred dollars. Now you might be up like I don't know. fifteen dollars an interest so that's a sure thing.

You won't lose money, you've got the interest, but you know You if you don't risk it, you're not gonna get it. So you know that's the whole deal. And right now, being in this kind of uncharted territory of you know, psyching myself out, getting so close to the finish line and then having this pullback you know? I I really really was hoping this week that you know Monday I would jump in have a third green day in a row I had some great days on Thursday and Friday then Monday I was red yesterday I hesitated didn't take any trades today, you know, jumped into sxtz and it was just it was just the wrong one. I mean this thing just got pummeled and then you know CRE X this was off the hide.

a momentum scanner. Look at this thing from a high of 371. this dropped all the way back down to 262. So this is the kind of market that we're in right now where it's a little unpredictable.

It's hard to know which one's gonna go and which ones not going to go I Am te look at this from 11 to 15 back to 11. There's volatility, no doubt about it. And with volatility comes opportunity but trying to swing for the fences on these just I don't know they're not sticking. you know, even hunt yesterday.

I mean it did open up later, but in the morning you know when all the way up here and came all the way back down. And of course you know to make things even more frustrating is not having availability of shares to short any of these stocks. So you know I have my account with Center Point but I guess I'm not waking up early enough and reserving the shares because people are reserving them ahead of me and I don't have shares available to borrow so even if I wanted to short these I can't which is you know, annoying. So I can really only trade them one direction and you know at this point it's just been.

you know, a tough a really really tough week. I mean this has been the most difficult week that I've had I would probably say in my whole career as a trader, you know I mean obviously it's in the context of I'm still up on them the year and it's been. you know, a great couple years since I started this $583 challenge. but this has just been a really bad week.

and what really I think is the mark of a good trader is being able to. you know, being able to put that aside and adjust and get back on the horse. And so you know tomorrow, what's my goal? You know my goal is just to be green. It's certainly not to try to make back everything I lost today and that's very, very hard to put that out of your mind because you feel like Mana, you know I lost 16 grand yesterday.

you know today - urgh, you know tomorrow when I see something, there's gonna be a part of me. instinctually. that's like hmm. you know if I size up on this could this gives me a $16,000 winner? It's it's inevitable.

You can't. You know you can't separate yourself from those thoughts. They will happen. But what you can do is you can prevent yourself from acting on those thoughts.

And so you know a couple things that I've done on this account now: I went ahead and put the two thousand dollar max loss on it. So if I'm down more than two grand I can't take another trade And that means on the day like today when I lose ten grand in the first minute, I'm done for the day. Disappointing as it is at this point. clearly would have been better if I just finished the day down cut ten grand than down sixteen grand and I think I had the same thing on Monday I'm gonna pull up my my trade records here on Monday I started the day I Want to say it started down like fifteen hundred dollars or three grand or something and I started down twenty-eight hundred and then by the end of the day I was down about 6 grand or 5,800 so you know it was like one.

First trade right out of the gates was down to 2,800 bucks and realistically should just thrown him this out because the next three trades that just lost more money on and that was pretty much the same today. Yeah, I made some money back on CTRM but you know my mindset was was was broken. You know my mindset on ship wasn't to take the four thousand dollars it was. You're still down sixty five hundred on the day you need a ten thousand dollar winner out of this.

You know what I mean and that's that's where you start to make mistakes. You stop trading the right way. You start trading based on your P&L and actually I'm gonna do this again. I did this last week and it didn't save or maybe I forgot to save it.

So I'm gonna go with six thousand share max position size for the rest of the week. Thursday Friday So Thursday Friday is not about making a lot of money basically same as last week. If I can just be green, that's all I can really care about. So max position size six thousand shares I'm gonna take off the dollar amounts of equity up here because I don't want to even look at that tomorrow.

It's not helpful I don't need to see that. so I'm just gonna go like that and I'm gonna save my layout here I'll save it when I put I'll save it right down here. So let's see, save the layout. Full screen layout all right? Yep, Okay, so you know it's one of those things that you know the only way to rebuild is one brick at a time, one trade at a time and that means potentially 200 to 500 dollars a day just to have a period of time to kind of reset.

and in a lot of ways I'm really looking forward to doing another small account challenge just because you know the last a few months. Being you know having such a big account, you know I've been taking some really big trades, some big risks and you know, yeah, I've had some big winners, but there's a lot of stress that comes with it and I just AM you know, kind of over it right now and looking to bring it back down so you know I think at this point, whatever I just I need to finish this challenge. and if I have to go back for a little while of trading with even 2,000 3,000 shares just to clear the slate and just to kind of mentally reset, then that's what I'll do. and I'll just go with small sized you know, one entry, one exit 200 400 600 dollars a day obviously trading and making only $200 a day.

it's gonna take a really long time to, you know, make back what I've lost in the last week. but you know at the same time what is most important is resetting mentally because until I've reset mentally, I'm gonna keep making mistakes. And so this is Trader Bootcamp. Essentially, that's what.

that's what I need to put myself into. Um, you know it's the first time I've even said that out loud to myself, but you know at this point that's actually what I need. This is gonna be my first red month in over a year, which is you know, certainly disappointing. And you know I said right now I'm up only about a hundred and ten thousand dollars on on the year.

you know, talk about pathetic. Its March 27th. Well let's look at where I was last year at this time. Last year at this time I was up about a hundred and fifty thousand dollars.

so about 40k behind last year, you know, and and I need to make that up somewhere. But but ultimately and you know it's easy and you can see you know it's easy for me to beat myself up. You can see how frustrated I I'm getting with myself and I'm at a level where I'm I'm making money you know I mean Graham not the last week, but you know I'm I'm doing well this year, but it's not good. Nuf four or five years ago, making you know $200 a day you know wasn't good enough.

and I need to start making 300 a day and now making 2,000 a day isn't good enough I need to be making 5,000 a day. So you know in three years from now, maybe making 7,000 a day isn't good enough and I'll be wanting to make 10,000 a day. I mean I have no idea I'm not sure, but you know, just kind of. It's that mentality of a trader that you're always trying to do better.

not necessarily than other people, but then yourself and be more successful and to grow. And so this is a month where you know I'm kind of doing the opposite of that. You know I'll say that this is this is no doubt a difficult, you know kind of stretch that I'm going through here getting so close to crossing that finish line only to you know, get a flat tire and watch you know everyone pass me by. me.

It's not even a good analogy, but you know it's I I've done this to myself and one of the things that I am a pretty strong believer in is that things happen for a reason, both good and bad. and this isn't something that I've had to deal with in a really long time being in a real rut having a really kind of extended red stretch and this is something that for whatever reason I needed to go through before I could finish this challenge. You know whether it's so I would have a greater appreciation of the meaning of taking $583 and turning it into hundred? K So I would have a greater appreciation of some of the struggles that you guys are going through who are newer to the market to reconnect with some of the emotions that I was having five years ago and ten years ago when I was first getting into trading. But for whatever reason, this is something that I needed to go through right now.

and you know I got a surrender to the flow. This is where I'm at right now and I'm at the bottom of a little bit of a hole and I have to see my way out of it. and you know, lead by example and I hope that you know over the next couple weeks, that's exactly what happens I start digging my way out of the hole. you know I'm able to reset, recharge, get focused, and kind of get back into a groove.

And certainly it would help if the market holds up. The markets been a little erratic the last week. In fact, the whole month of March it's been a little crazy and this month is no doubt been a tough month for me. So you know this is just one of those challenges of being a traitor and you know you got to face it.

Being a warrior, a day trade warrior, it's not about not having fear, it's about being able to face that fear. Whether it's the fear of missing out, the fear of loss, the fear of failure, it's about being able to face that fear and keep trying. And my goal is. you know, just always to keep trying to keep growing and through each one of these experiences.

the Drawdown: The big losses. I've always come out on the other side a better trainer and I have no doubt that that will happen with this one as well. A lot of lessons will be learned from it and which one's halted on T 12 Hunt hu NT Yeah, I know that one is is there another one, but you know in any case, Rvz that looks like it's probably halted on circuit breaker. I mean it's halted going up so that looks like a circuit breaker halt.

But in any case, and you know, obviously not gonna trade again today. I'll just just for the heck of it just to show you I Should this should be enabled on my account, let me just scroll down here. Yep, so Global trading locked I'm down more in 2000 Sorry. can't take the trade so that's good.

You know, starting to reigned in a little bit. Just got to be in in boot camp here for a little bit. That's that's what I need I need a reset I Need a full at least a full week just to reset III Don't I Just not in a place where I can trade with Nine Twelve fifteen thousand shares and you know, really, really, do it in a in a in a in a good way. So that's alright.

You know this is one of these things that's really important. And of course what's interesting today is you know John Hill tens up six thousand dollars trading the same stocks as me but not swinging for the fences, just taking the base hit. You know what I mean So it's like someone trading the exact same stocks as me, following the rules of the strategy which is to really focus on base hits. Boom is coming out on top making six thousand dollars and then you know I've got you know my thing over here for you know all these reasons with the $583 challenge, the million dollar mark being an you know super aggressive and trading the same stocks trying to make a home run and I'm down 16 grand so you know very good job for John today Congrats to him and and to all you guys who are green today cuz I know a lot of you are we had some.

there were some opportunities today, no doubt about it. I am te ship CTRM but if you were going for the big move going for the home run, it did not pay off you know and so that's where I made the mistake. So anyways, that's it for me. You know, another kind of day of struggle here in this small account challenge, but you know, like I said, every single day during this challenge, we've done the recap.

Whether it's a green day or red day, there's opportunities for you guys to learn a lot from these trades, so you know it's It's a good thing for you guys to be able to see it. Alright, so that's it for me and I'm gonna shut it down here and I'll be back at it first thing tomorrow morning. Trading with small size and adjusting the focus and just really trying to put today out of my mind and focus just on. You know if I can do a couple hundred dollars and have a green day, that'll be a good Thursday All right.

So I'll see you guys all back here tomorrow morning if you're still watching. You must have really enjoyed that video. So why not subscribe and get email alerts anytime? I upload new content. Remember when you subscribe, you become a member of the Warrior Trading family.