Hey everyone Alright so here we are: First day of: March 39th Trading Day of 2019 and third read de recap: What is going on this week has been horrible. Four out of five days this week we're read: this is not good at all I've really got turned around. You know the good news is up until yesterday I was still green on the week. Well now today I'm red on the weekend which makes it my first read week of 2019 I Guess I was due for a little bit of a pullback.

you know, making 130,000 in the last two months, it's been amazing. So again, a little bit of pullback here off those highs and now I need to consolidate, tighten up my risk, focus on a quality set ups, and get myself moving back up. That would be the focus first thing Monday morning. as usual, any questions, any comments, leave them below give me a thumbs up for doing the red day recap.

These days are not fun, but I know you guys learn a lot from them. so enjoy the recap and as usual, leave comments below. Alright, see you guys on Monday All right everyone. So we're gonna do midday market recap.

Go to the trades from today: Friday First day of March It's my third red day in a row which is such a bummer you know I and today is the worst red day of them all. This has been a tough week and I really you know I was dreamed I was up like $1,200 and then I took that trade on GSB and just you know gave it back. So it's a bummer. No doubt about it, it's not the way I wanted to start March You know, having three red days in a row, this has been though probably the worst trading week.

Just this last week, the worst week that I've had all year. it's been a great year, but you know to have this kind of just bummer of a week is definitely disappointing. So March First starting with a Red Day recap, Let's see, today is the thirty fourth, fifth, Six, seven, eight, thirty ninth day of the year. Day 39 And yeah, Red Day recap.

So you know today's one of those days where we ended up seeing some surprised momentum which I you know I didn't have high expectations for Friday and the Gap scanner this morning really wasn't all that strong. this was our Gap scanner this morning leaving Gap or PBY is too expensive. too expensive GSB which I traded only had 500 shares of volume so I really didn't even look at it pre market I didn't really look at it until the bell rang and I saw that it was consolidating right here and that's where I got in and I'll cover that trade in a second and then you know NVA X that's the floats to high GPS price is too high. that's not interesting SS y Well, this ended up going from a dollar 45 up to a high of a dollar 65 only 20 cents.

Not the biggest move. so I didn't do super well I didn't even trade it I GC took a stab on this one and that was my first one. So this morning this is what I was watching. I had a GC pH iik I had CIFS and I can't remember what was the Oh and then I had B PTH right? B PTH So these were the four that I was watching this morning now pH iik I Thought looked interesting for continuation because you'll see yesterday.

it was actually pretty strong. Made this move from 220 all the way up to 360 right here. consolidating, but it needed to break over three. I wasn't gonna be the first one to buy it I was waiting for the break of three and then I was gonna jump in and you know, didn't happen and then sold off.

flushed back down. So you know disappointing there on pH Iix that we didn't get the you know that nice kind of. you know continuation and follow-through You know? So that one was off the list pretty quickly. BP th No.

actually the BP th was also a continuation set up that it didn't really have super high hopes for. honestly. I put an order at $3 and my first trade on it was it right around 3. I'll cover that one in a second.

The first one though was IG See, this is my first trade of the day. so this one you know I was looking at the daily chart and said ok, it's got room here up to 3:30 You know this is one to definitely keep an eye on. It's got some potential there, but the bell rang pre market high was 93 and so I jumped in at 96 and 97 and then I sold on the ask at 99. I actually tried to sell at 3:02 and I got a weird fill I don't know why my order went at 99 but only made a hundred and forty-four dollars on that trade.

It hit a high of 305 and then sold off. so you know it didn't end up being. you know that that clean kind of big breakout that that maybe I was hoping for. So anyways, that was IG c BP th this one hitting the scanner I jump in I guess my first entry was 324, adding it 345 and 340 nine and then selling it as it came back down here.

Where was this at? 43 and 45? So not. you know. My first trade on it wasn't really that great because what ended up happening was it hit some resistance right here. Hit a high of 53 resistance in a 1-minute micro pullback broke out of that level and squeezed up to a high of 89.

Then it does a pullback here and I added on this dip which is a little unusual. it dipped down and I added where they had let's see added at 63 and 67 right here. So adding on this dip as it dips down and as it surges back up I sold through the highs so that was like I don't know $900 winter or something like that. adding here waiting for the first woman to kill make a new high but then anticipating it and getting in just a little early.

So we got that break and that move higher right there which ended up being a nice little scalp. so I did well on this one and then and then you can see it ended up going even higher without me, which you know hindsight being 20/20 I could have kept trading it, but this was around the time when was this 944 943 that jumped in? GSB So GSB I saw out of the gates it was on the Gap scanner. wasn't really paying attention to it but out of the gates it squeezed up to six dollars. made this big move and that was consolidating right here under six.

So I looked at that and I was like this thing looks you know this looks good I mean it really it looks, it looks interesting. hi a day is 596. It's got news today right here fourth Quarter so you know I took a look at the headlines so I was like all right you know this is a stock that that has a catalyst. It has a reason.

You know to be moving up and you know this is something that is certainly worth keeping a close eye on. So I jump in it at 6 it squeezes up right here and usually when this happens I'm thinking ok, this has a lot of potential. So I just started adding so I first got in at 6 and then I added at let's so I got in at 6:00 added at 619 646, 19 641 672 So I'm adding as it's squeezing up I'm thinking that you know this thing is gonna squeeze into a circuit breaker halt at 7:00 and so I stepped up to the plate and it hits a high of seven and I'm like alright, this looks good sup a whole dollar per share. Next mental target 750 and the next minute it drops right back down to 613 you know, so you know and then it continues sideways and and then that was it.

You know. So this was really super disappointing. I mean you know, just boom. popped up and then slammed right back down.

So I lost fifty five hundred on it and you know I was like alright well and and this is kind of where today you know I made the questionable decision of continuing to trade. you know it in on other days usually I would say look, you're past your max loss, you know, call it quits I think I was just frustrated on this one. Anytime a motion is coming into it you know you should just step back. but and I saw it consolidating like this and I was like you know what this thing it looks strong and yesterday the last couple days we've seen a bunch of these stocks that do these kind of like you know rejection moves.

you know they move up, they reject it and then they end up in the afternoon or later in the morning squeezing right back up. So we saw yesterday on CIFS you know where were a couple of other ones that we've been watching our kDa you know these these kind of like big moves. rejections looks like it's dead and then right back up and that you know. So this is the thing that made me kind of have hope that it may again.

So I was like alright well I've already hit Max Payne my IRA so I'm not gonna trade in my IRA anymore I'm gonna pop up my main account and the last $4,500 in my main again. So my main account I took a trade on XS PA this one hit our high. add a momentum scanner you can see right here and this one I jumped into pretty quickly because it was a reverse split stock. recent reverse split right here and so I saw that and I was like yep I'm jumping into this thing.

this looks good. Well that was that was okay. Ended up hitting a high of four. Let's see what's on my scanner here.

B PTH So I ended up hitting a high of 409 and with 10,000 shares I was able to make 2,000 bucks so you know that was okay. let's look at B PTH for a second. Yeah so that's moving a little higher anyways. So but then I got it to GSB again I was like I know I'm you know I'm gonna get back into this first five minute Campbell to make a new high right here.

So I jump back in and that ends up being a false breakout of course. now it's back at 605 so you know if I come back in the morning or tomorrow more Monday morning and see that this went up to 650 I'm gonna I'm gonna lose it but you know I got back in, stepped up to the plate I thought you know maybe it would make another move higher and I was wrong PL AG hit the scanner, halted open higher, dipped down, searching back up the highest for 30. So for 30 s usually the level I would watch but you know today has been just a day of rejections and you know this is a disappointing way to start the month, that's for sure. You know no one likes to start the month deep in the red.

Now I'm further in the red then I would likely make back in one day Now having said all that with my first trade on GSB Had this broken $7 had it gone into a circuit breaker halt, this probably would have been at least a $15,000 winner. So you know again, it's risk to reward. So I lost. You know, five grand with the potential to make fifteen.

It's a good profit loss ratio. It was a trade that I think was worth stepping up to the plate to that on another day. You know with the gap with the news might have been the biggest mover. Maybe today it wasn't because traders were focusing on VP th.

you know I'm not I'm not really sure exactly why it didn't. You know, make the big news that I thought it would make. but you know this is just part of the the life of a trader that you are gonna have days where you lose money. You know being a trader trying to never lose money would be like being a boxer trying to never get hit in the face.

You're in the wrong career. It's gonna happen. There's nothing you can do about it so you just try to, you know, make the good decisions. keep the losses as tight as possible.

Always ask yourself, do I have the potential to double what I'm working What: I'm risking whatever you're risking. Whether you're taking, you know you're stepping up to the plate like me. you're risking $5,000 which sometimes I will risk And you guys have seen me. make ten fifteen, twenty thousand dollars on a really good day.

You know the risk to rewards, but sometimes you take the risk and you lose. You get hit and it's just you got. You know, take the hit and be willing to just get back into it the next day. That's as simple as that.

You know Monday is not about revenge trading. It's not about trying to make back all of today's loss. It's just gonna be trading the market that I'm in. If I see something like GSP that looks really good I'll probably be tempted to jump in it now.

unfortunately because I now have three red days in a row. Even if I do see something that looks really good I really do have to restrict myself a little bit because you know at a certain point you've got to cut the bleeding. You know you don't want to keep getting hit in the face. You know, ten days in a row at a certain point, you got to be like all right.

I Got a slowdown here. You know, as you know, as much as I can bank on. you know, my last three years of 70% accuracy. This is a stretch that is not working super well for me.

I got to reduce the share size and back a little bit. You know, until things start to feel a little easier and a little cleaner. You know? So Monday you know has to be kind of just, you know. back to basics.

focused on good quality setups and not trying to push my luck too much. you know? and and it's just one of those things. It's been a while now since I had a red day like this. I Don't know if I have my 2018 calendar right here, but well, whatever in any place.

No, it's right here. so you know going back. this is the worst day so far of 2019 and the last time I had a day this bad, you know FOMO this and these why these things you say Ross Well, you know you're doing this. recap.

Look at BP th just went from 520 to you know 620 I Know you know a certain point, you gotta cut your losses. The frustrating thing on these types of stocks is that they can grind and grind and grind. and then they just finally open up and it can be a little bit of a surprise. You know it's you know? Obviously, you get that surprise breakout.

So yeah. anyway, it's been a couple months of the hell us, You know this bad. I've been pretty good about keeping the losses tight which is great, you know I that's that's always the name of the game. But today I stepped up to the plate I was trying to you know hit a Friday home run get myself off to a great start here in March and I just it didn't end up you know, working out for me and then of course you know with my attention focused on that one BP th maybe I didn't fully maximize on the opportunity.

although at the same time you know you can see on the five-minute you know doji candle Doji candle Doji candle dojo doji so you know, not the absolute easiest. I'm 18 million shares of volume now. easy to borrow. tempting no doubt about it, you know.

but at a certain point you know rules or rules and you know if I jump into this year would 10th out. I mean you know this is the thing with FOMO is the higher it goes up, the more you feel like you should just jump in and then you end up buying it up here and it's like hello, This thing just went from five dollars to seven bucks. Why are you buying it at seven? You know, if you missed it, you missed it so you know that's the that's a tough thing with FOMO Is it When you trade? From that emotional perspective, it just puts you in this position where you know you, you break rules and you make really kind of irrational decisions that don't make sense buying stocks like as they're hitting high of day because you're just like forget it. this thing's strong I'm jumping in and next thing you know you just bought it at 650.

I Mean you know, literally. right now the high is 644 and there's someone who pressed the Buy button is 644. You know they're down 20 cents and what happens if this breaks you know 610 and flushes down to six? They're down 50 cents. You know we 10,000 shares.

Just like that, you give back $5,000 It can happen very fast so you know you got to really be it. You know your peak whenever you're trading and if you start getting emotionally you know, fueled. that clouds your ability to be focused and it makes you more apt to make mistakes. And no doubt for me, you know taking a good sized loss like this makes me more apt to make a mistake and take a second trade even though I really shut it.

I should just call it a day or maybe focus on you know something with more potential then just keep kind of going after a stock that already burned me once. but you know it is what it is. Even after years of doing this, it's easy to you know have a day where you let you know you let yourself break a couple rules because you say well you know I've been doing this for a long time. had a great month last month.

you know I can I Can take a little bit of risk and you know it's just one of those things you got to keep it in check. So yeah, today's a red day. A little disappointing there, but be back at it first thing Monday morning. You know, not really realistically too much damage.

And this is of course the the challenge with trading into accounts. You trade into accounts. you can make money in both accounts and you can have two huge winners. And I've had days during this small account challenge from 583 up to 100k and then up to now million we're trading in both accounts.

you know, taking the same trade twice I make twice as much money. but I've also had days we're taking the same trade twice I lose twice as much money. All right. So this is one of those days where you know I'm losing twice as much trading both accounts.

You know, kind of the downside there. but but that's okay. you know. Again, all things considered, it's a red day.

but it's not a blow up. it's not a this is certainly not a catastrophic day and you know, live to trade another day. Be back at it first thing tomorrow morning. Our Monday morning.

Alright everyone, so that's it for me. And I hope you guys have a great weekend. Rest up, study, study, study, go through the classes, go through the live trading examples. you know? let's let's hope that we have some good action next week.

But you know, be prepared for things to be. You know, maybe a little on the slower side, which means it's a great time to study. Great time to practice in the simulator, you know, and just you know. Trade smart! All right everyone.

I'll see you guys next week 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. Remember when you subscribe, you become a member of the Warrior Trading family.