What's up everyone? All right? So here we are Thursday Morning fourth day of October Finishing the day up four thousand eight hundred eighty Three dollars Green is good. Finally, the wind is at my back and we're getting some momentum in the market. Where's my? where's my remote? I Gotta have the green lights turn down here. Alright, so there we go.

Green feeling good I'm loving it. You know this is finally what I needed I'm up about $12,500 this week and just like that in four days, I've made more than I made all of last month. It's crazy how you know when the markets hot, you can just really stack up those profits. and when the markets low, it doesn't matter if you trade eight hours a day if there's nothing moving.

If there's not enough volatility, you're not gonna make anything. so you know you gotta be able to be patient. Last month I was patient I took it slow and instead of being aggressive and digging myself a hole, I just kept making small profits and now the markets hot. I'm picking up the share size and making some really good games so we'll break it down.

Today's midday market recap. As usual. any questions, any comments? leave them below I'll come back here and answer them later today. All right, Enjoy.

All right everyone. So we're gonna do our midday market recap here just a couple minutes before 10:30 so we're at the end of the first hour of trading. I Traded today for 25 minutes and made four thousand eight hundred eighty Three Dollars. And actually four thousand Eight hundred eighty Two dollars and ninety eight cents.

So a nice Green Day For me, this has been a great week. I'm up about twelve thirteen thousand dollars on the week and one of the things that I said or mentioned to you guys earlier was the fact that and and John pointed this out that this is where the last two months of being patient and waiting for really good quality setups now is paying off keeping losses small. So for the last two months the market has been choppy no doubt about it. I didn't make a lot in August I didn't make a lot in September But what I did a good job of was not digging myself a hole because in the past during a choppy market where we weren't seeing good follow-through what would be very common for me would be to take you know a few big trades, get aggressive, have a couple four or five thousand dollar losses, and when you have three, four five, or six of those, suddenly you've got a hole.

and I've had a hole as deep as twenty to twenty-five thousand dollars that I then have to spend the next couple weeks digging myself out of I mean even in a hot market like this, making twelve fifteen thousand dollars a week, that's great. But if I had a twenty thousand dollar hole I would I would only be half way out of it right? So you know this is where learning to you know, throttle back when the market is slow and then go back and put the pedal to the metal when it's hot is so critical for your long-term success. Just because you know it just creates such a sense of kind of disappointment and frustration when you do dig yourself a really big hole and you guys spend weeks getting out of it. This is my accumulated drawdown here.

So this is you know, my P&L of trading for the last three years and if I zoom in here on the cumulative drawdown, you can see. So basically this is like right now: I'm I'm at all-time highs I'm You know I am basically I've literally at all-time highs. But down here, this little dip, this little dip, this dip, this dip. these are what you would call draw downs.

It's the drawdown off of your all-time highs. So in terms of actual dollar amount you can see back in 2016 my draw downs weren't that bad. Four thousand dollars down and then I'm back up. You know, got a little bit bigger as I start getting more aggressive in 2017 taking more sighs.

So here's a $13,000 drawdown. There's a twenty thousand dollar drawdown. Seventeen thousand, twenty two thousand, nineteen thousand twelve thousand this was August and this is the month of September was really good, you know? So obviously I after sort of seeing this trend, I was like, you know what? this is not really a good direction for the draw downs to be going I am concerned that if I keep going this way it's gonna just keep getting bigger and bigger and you see it going across my other monitors. So I was like at some point I've got a cap.

the drawdown you know I mean obviously this is in conjunction with this curve going up more and more and more because I've been more aggressive on my share size so sixteen was more like this. you know have little period of flat and you know then I started to really open up. So it is part of the nature of being more aggressive that you're gonna have bigger losses you know and you this might happen. but I'm really trying to kind of pull it back a little bit so you know maybe that's ten twelve thousand dollars.

That was the deep deepest of my last drawdown. so kind of trying to, you know, get back into more moderate pull backs again. Bring this back to the Deadliest Catch those of you guys who also watch that show so think of think of me right now as one of the boats that during the last. Let's just say during the last six weeks there's been a ton of storms.

You know you've been hearing about people going out, but they're not catching a lot, they're having a hard time finding the crab and so you decided to, you Know kind of hunker down and sit tight now. I Know realistically, most of the seasons aren't long enough that you could take six weeks off. Well, let's just say it's a it's an open season and you could. so you've decided to stay at the dock.

you save fuel, you didn't have to pay wages and salary. you were able to just kind of like, you know, shut down for a few weeks and then when you start to hear the things are getting better, that's when you go out and the other guys. they're now in the hole from spending the last six weeks going into the red. burning fuel, paying wages you know, repairs, bait, everything else, and so they're down here trying to get back up and you're just coming out basically with a clean slate.

And that's kind of how the month of October is for me, you know. I I didn't make a lot of progress in August or September but I didn't go into the red. So now I've just been kind of idling at my all-time highs making a little bit of progress and now I'm able to open up. so I'm happy with.

you know, the this week. It's definitely a great start to the month. I've now made more this month in four days and I made all of last month, you know? And and that's just the way it is. You got to come in every day because you never know when the market will pick back up and so now it's time to put them out pedal to metal and I did today.

Absolutely. Now today's a day where I was actually up about $7,500 and I'm walking away with only forty eight hundred. So I gave back a little bit of my profit. but today felt like the right day to be aggressive.

and for me I wouldn't have been up seven thousand if I hadn't started being aggressive right away. you know I was right away like wow, things are taking off I got to really put the pedal to the metal. get aggressive I think we've got a lot of there's a lot of potential today and this is where I talk about you're either going to leave money on the table like I did yesterday on VT VT Yesterday I wasn't as aggressive as it could have been left money on the table today I pushed it and I gave a little bit back. You know you're all is gonna be one of the other.

You're never gonna be perfectly in and out exactly the right time. It's just impossible. So let's kind of break it down for today. All right.

So today starts like any other day looking at our Gap scanner. so we're gonna go to a historical time frame 9:25 A.m. All right. So 9:25 a.m.

this morning I'm watching the scans and this is what I see leaving Gap or I am but it's only got five thousand nine hundred shares of volume. not sure about it. Second-leading gapper in the entire market ii stock opening or up the most pre market is V XR T Alright, so I pull it up V XR T and I look at it and I say okay, this one's interesting I'm a little bit disappointed that it's already pulled back a little bit. Pre market had a pre market high of 490, came back to 350 but is now curling back up and as you can see just before the bell, it actually squeezed up to a high of four dollars and 48 cents.

So on my So, my bias on this is obviously to the long side. Where do you guys think would be a good entry on the stock? 454 90 maybe 420 for me I got into the half dollar into anticipating the break of the half dollar. Alright so let's zoom up here. bunch of trades today.

First trades in nine thousand shares 450 Stepping up to the plate being aggressive because the markets been hotter so instead of taking just six thousand I took nine thousand and immediately boom I mean this thing popped rate to four seventy one second later I'm scalping the twenty cents of profit. That's nine hundred dollars in one second and this was predictable. but this stock would this amount of volume pre market would squeeze out of the gates and did it ever so it pops up to four seventy, it pulls back I sell some and then when I see the strength I'm like I'm getting back in back in at four sixty seven selling a little bit, adding it for ninety. So now I'm being really aggressive on this I'm scalping.

it pops up to a high of 525. it pulls back it then surges back up right here. I'm adding it 545 50 I'm selling it five 75, 70 AD a cat5 oh this was a short that accidentally took so as of right here I'm selling the rest at 574. So right here we get a move from 450 up to a high of six dollars in two minutes.

That right there I made like $4,000 That was a really solid trait or maybe it was even more than that. So this was a really nice trade. It's a gap and go set up I didn't go for a break of pre market high I bought a break of the half dollar which was also a pre market pivot. All right so it squeezes up here at then pulls back, pulls back, does the micro pullback as you can see I took a little scalp on WM LP this one hit the high a day Momo scanner right where was it did you? did you? did you to do see where where this is now I can't I can't find it.

it was on the scanner here there It is so this one hit the scanner. WM LP jumped in that half dollar break six that Seven Thousand shares sold some at Sixty Seven, Sixty 156 wasn't really the biggest mover I Then get back into V xrt for the break over six as it was doing this one-minute micro pullback and then I'm scalping this move here up to Six nineteen. I add back a 650. I'm selling at 6:59 so this is where I'm getting in getting out.

I'm clearly being aggressive on this trading with large size scalping the move here all the way up to a high of 669. At this point I was up on this stock about six thousand $6,000 $6,000 profit here. $5,000 sorry five hundred dollars a profit on WM LP And then I take a trade on Ygy I Ygy I was also on our Gap scanner this morning. This one right here gapping up with 43,000 shares of volume.

And guess what, They have a headline this morning that's based on a hemp derived product and we know how hot cannabis is right now. So this one I jumped into as it was squeezing up. pre-market high was 850 I jumped in as it broke the pre-market high a little hide 880 and 895 and I'm selling on the move up to 950. it hits a high of 980 and on that when I made 1200 bucks.

So now I'm up. Let's see Six Five: $7,700 $7,700 I see the next stock hit the scan Sno A and I you know I see it and I'm like this thing looks good. Boom I'm jumping in. jumped in.

it was six thousand shares jumped in Sno A six thousand shares it was I was already consolidating here as it broke this level I jump in here at 35 and it hits 39 on this one I got a little bit of a loss. Biggest loss in the last two months. Got in at 35 I tried to sell at 39 I could see there was a hidden cellar I tried to sell in the ask. None of these orders filled, not even one share.

There were a lot of hidden sellers. someone was unloading some sighs I don't know they must have been in from earlier or I don't know where but I hit the bid at 202 and 190 and lost 2200 bucks. So I went from being up $7,500 to being up about five thousand dollars. All right, Five thousand, five hundred.

and then I took a trade on VX RT One more trade on this one and I got in at six. Where was it? 635, 638, 639 and I stopped out some of it for profit and the rest as it dropped down to 626 and 597. So now I've got two losses in a row and I'm up only 4500 bucks and I'm like, okay, time to take a breath. Yes, I was just up 7,500 So I've lost 3,000 I've given back not quite half my profits, but I've given back a decent amount of money I got a slowdown I pushed it maybe a little too hard that you know that that happens.

Pushing it is how I got myself up to 7,000 so I'm not gonna feel FOMO I'm not gonna feel regret I'm not gonna try to revenge trade to get myself back up to 7500. I'm gonna be grateful that four thousand eight hundred eighty three dollars is more than I had thirty minutes ago. It is progress on my account is progress on the 1 million dollar challenge. So I took a breath I was like, okay, you know I've got two losses if I have a third loss in a row, guess what? I got to walk away because of my rules if I have three back-to-back losses I'm done for the day.

So at this point I'm like, all right, let's just go really easy. let's see if anything looks good and I ended up taking two more trades on V X R T and on those two trades making about 300 bucks. so not big big profit, but you see, it pops up here to 719. It pulls back I got in there at 718, scalped it up to 23, but it really wasn't a big winner at all.

I mean like for cents? so maybe like 120 bucks there. Then I got in at 7:44 right up here for the break of the half dollar, it goes up to 760. I'm selling it 57 and 55 and sell the rest back at 20. so made like another 180 bucks there.

So you know four thousand eight hundred, eighty three dollars is good I'm not gonna finish it high of day I Guess you I don't think that this would be considered a three thousand dollar drawdown when I look at the metrics I'm not actually a hundred percent sure like to me when I think about drawdown I'm thinking about an actual red day. So on a day where let's say I lost twenty thousand and then made twenty five thousand I finished the day up five. Is that a drawdown? I'm not really sure on the day where I make seven thousand, but I finish up only forty eight hundred. is that a three thousand dollar drawdown? I don't I don't think so.

To me it's not. but I'm not sure exactly how it's calculated in a traitor view where my metrics are. but in any case, to me, you know I've got ninety four thousand dollars in the account as of today. so if I tomorrow, if I lost money off of that, that's a drawdown intraday to me doesn't count.

so tomorrow I'll have just under 100 K in this account. I'm getting close to being able to give myself a paycheck, which will be nice because I haven't taken any money out of this account since I don't know June or July but usually I let it grow up to about 100k, take money out, drop it back down to like 75 or down to 50 in a really hot market I would leave the full hundred K in here so I could take 15 or maybe even twenty thousand share positions I wouldn't need I wouldn't need my buying power for it, but notice that VXR T has margin restriction so that means right now if I wanted to take ten thousand shares, its gonna take sixty thousand dollars of buying power. so I can do that. If I wanted to take twenty thousand shares, it would take a hundred and twenty thousand dollars in buying power and I've got only 94.

so I couldn't do it. So if I take out fifty and I've only got fifty thousand dollars left, I wouldn't even be able to take nine or ten thousand shares of the stock and that could limit my ability to make money. So I want to make sure I keep enough in here that I can trade the way I want to but not so much in there that I start to get a little complacent or a little sloppy because you know I've I can afford to take losses sno way of course is things coming back up. The thing I said about this is the only place I would watch.

it is if it broke over the highs and shows that it's you know cleared out those those early hidden sellers. But of course buying up here be buying a double top. This is a cup formation. We want to let the handle form that's flagging underneath the highs right here.

and then you can buy the break of that cup and handle formation. but I'm gonna leave it alone. It's 10:30 10:45 Gonna call it a day. 4,800 bucks.

Green is good I'll be back at it first thing tomorrow morning. We'll finish up the week strong and hopefully going to the weekend feeling good. Alright so that's it for me I Hope you guys have a great afternoon and I'll see you first thing tomorrow morning. Those are you guys on YouTube or Facebook Leave comments below.

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