What's up everyone? All right? So here we are Wednesday morning third day of the week and finishing in the Red Max Los Max frustration down Five thousand, Seven hundred bucks. So today's a day where I took two trades I lost on both of them. Only two trades but boom boom two red trades I'm done in the first ten minutes and sometimes that's the way it is. It's a first-round knockout and it's frustrating and you know that's just part of the deal with training, it doesn't always go your way.

What's annoying for me is that yesterday I hesitated on the lead-in gap or ASTC I didn't get in at 694 and it popped up to 750 without me. Now the reason I hesitated was because on Monday when I jumped right into the leading gap or I lost I hesitated on Tuesday Wednesday I jumped right in and lost. So it's like huh? You know you just one of those days where it feels like you can't win because you know I if I had done this yesterday, would have had a great trade and I do it today and then doesn't work and I you know, whatever, it's just frustrating. so that's part of the deal.

The second trade that I took a good quality set up made sense I got in a 650 drops to 620 Denton been down to 580. 20 minutes later it squeezes up to 10 bucks without me. How frustrating is that? So I had the right idea, but my timing wasn't quite quite right and so you know, lost on that one. And so for me after that big loss that I had at the very beginning of the month, I reinstated a max loss on my account I called my broker I haven't had done the accountant actually like a year and you know I finally was like a $16,000 loss is just too much because on that day I was down twelve thousand and then I kept trading and that's how I went from down 12 K to down 16 K which is just stupid.

It was that extra $4,000 totally unnecessary. It was emotional. It was impulsive. I'm better than that.

but you know I fell into that that old habit the block traders fall into it gave in to follow, gave in to the emotions. so after that I was like $5,000 max lost I think count if I'm down more than five grand. I'm done for the day I'm cut off. Don't let me take new trades and it's alive.

It's active on my account, so that means right now since I'm down 5,700 I cannot initiate a new trade without calling my broker and asking them to lift this max loss I'm an account so you know for me, it's like after the second loss, I was very frustrated. $5,000 is not a lot of money to lose for me relative to where I'm at right now. but I was frustrated because I had two losses in a row I wasn't doing anything differently from you know what I would do on any other day. it just things didn't work and that's annoying.

And if I had gone back in for the second trade when that one started to curl back up, you know on the one hand, yeah, from six dollars to ten, ten dollars, eleven dollars I could have made back all my money. But if it had done a second false breakout and I jump in a seven and then it tanks to six and I lose another four thousand dollars, I'm down nine thousand. You know it's just at a certain point you got to draw the line. And so I've drawn the line at 5,000 below that I don't take new trades and that means hopefully the deepest red day I'll have is in the $5,000 range.

Granted, if I take a trade on down 25,000 and they you know I can they don't close my trades for me so I can hold a stock deep into the red I've got to still press the sell button. but if I'm below 5,000 I can't take any new trades. So today it feels like maybe that hindered me a little bit, but you know that's that's again, that's the FOMO talking because the rational part of my mind says Ross the very fact that you were down 5,000 says it wasn't a very good day for you. You weren't on your mark, trading maybe wasn't quite right and you got to draw the line somewhere and you drew it and you followed it and that's what's important.

So yeah, we'll break it down in today's midday market recap and you can see my to trace from today. that led to a $5,700 All right everyone. So we're gonna break down the trades from today. It's a Red Day recap.

First Red Day recap in over a week. It's frustrating and now we'll go over the trades from today. I'll just pull up my broker screen so you can just see what we're looking at here. So sitting it down? $5,700 so a pretty decent size.

you know, red day which is disappointing we've been in. this has just been a very difficult month for me and it's funny how the tide can change in the market. January I made a hundred and seventeen thousand dollars best month of my trading career and in February I lost ten thousand dollars for the whole month I lost ten grand So it's like you know that's kind of. The crazy thing is the market can go from being hot to being cold pretty fast but then bounced right back in March Forty fifty thousand February March April was great May 75,000 and then here in June I'm right now down I was down only two thousand on the month as of yesterday and now I'm back to down, you know, eight thousand so it's it.

Feels like this is a month like February just not seeing a lot of clean action I keep getting caught in false breakouts. Really frustrating and you know the last few days have been particularly frustrating even though I made seventy seven hundred on Monday that was nice. It was frustrating that I lost money on GEVO So the last three days I've actually lost money on three of the biggest movers on Monday we had GEVO and I lost money on it. So GEVO was our big gap or on Monday and I ended up losing money because right out of the gates it did this.

I got in for the break of the pre-market high right here break a pre market high and it dropped all right. So then yesterday on ASTC I was a little bit nervous and I was like you know what I don't know if I'm gonna take the break of the pre-market hi and guess what? I hesitated on it break a pre-market high of 7 boom it squeezes up to 7 78 would have been a great trade. So then I get in on a pullback right here and I got stopped out as it comes back down those 3,000 bucks. So on this one.

if I had followed my kind of go to strategy buying the pre-market high, boom would have been a big winner today on see Lbs Big Gapper I jump in for the break of the pre-market high and what happens, well you can see it's it's all red. So I jump in and on this one I took 4,500 shares so I got in really like pretty pretty fast I jumped in at 32, 38 and 43 anticipating the break of the half dollar would then lead to a retest of the pre-market highs. So my target was a break of 73, a squeeze over 12 and then you know continuation. It hits 11:45 and then drops 75 cents to 1075 I held through the drop, it drops down to 1060 I'm still holding it, then curls back up, squeezes to 11 65 and I'm like alright, that's what I'm talking about and then drops attendant I mean two, Nine dollars and 85 cents So and I I don't know I I don't know what I should have done differently on this one.

This is a red to green move setup I held through the pullback in the red, waited for the red to green move. It happened as it squeezed up to 66 I still had my eye on that 1173 mark which was the pre market highs and you know next thing you know it's breaking 11. So on this one I was like well, I'm gonna have my stop at $11 you know I got to keep a relative I can't let it go back all the way to 1060. So let's just look at this chart for a second.

Alright, so this is what it does. His squeezes up to a high of 11 65 and then right doing a little bit of a micro pullback. so I'm like alright I'll give it a chance to curl back up and then in this in this is 20 seconds it drops to 1075 I sell and I get filled at Ten Eighty Four and then it drops and I have to sell the rest on the bid at Ten Twenty Eight. So I just got slippage on these candles and then you know it's a good thing I sold because it just really continued to go lower.

I mean it popped up for a second foot. You know it's just continued to go lower and lower. so on this one you know the go-to strategy didn't work and this all speaks to you know kind of comes back to statistics because you could say well Russ why why are you buying the brake of these pre market highs if you know. obviously you lost money doing it on today on on Wednesday and you lost money on it on Monday GEVO on Monday I mean it's not, it's not really price range related Evo was was in the price range on Monday it just you know for whatever reason didn't work I ended up doing red to green move ast see yesterday worked out well enough for that breakout and good win there.

but I Mystics I was being I was hesitating and then today I pull the trigger and you know I got I got knocked down so that's that's where it can be kind of frustrating and when you're not consistent to your strategy, you know when you hesitate then you end up missing winners And that certainly doesn't help. but one of the things that I always do after a red day. So today's a red day. So what do I like to do I like to pull up my metrics just to kind of, you know, take a look at where I'm at.

big-picture stuff. So the last 90 days have certainly been, you know, a little choppy. I mean last 90 days have made I guess about 170. $180,000 was a little bit red came up into the green couple pull backs.

another pullback. last three weeks. four weeks have been kind of choppy so you know this is kind of what I'm looking at I had a couple really big green days which were awesome, but I've had some bigger red days as well and you know today's gonna be one that's kind like you know, a $5,000 loss right around there. so that's high level.

a little more detailed looking at the metrics. this is. let's see. let me just look at here.

to date. for instance, we'll just do two thousand. Well, whatever. I mean it's it's fine.

This is. this is a big picture. This is like two years of trading or something like that. One one 2017 we'll start there.

So since 1 1 2017, accuracy is 70% so you know this is where I say all right. Look, today's a red day. Today's a day were yes, I did lose on two trades, but over the course of 1,500 trades my accuracy is 70% That's a pretty strong you know metric to base it on. If I go back even further to 2016 when I started using Trader View.

You can see here we've got two thousand, two hundred sixty-nine trades and accuracy is the same. We just add twelve hundred more trades. Accuracy is the same. so I can tell you over a long period of time.

I'm right, seventy percent of the time. Alright, so yeah, I'm What's gonna happen is the losers sometimes get clustered together. You have two three four days that are really tough and then the winners get clustered together on the other side Where you have you know back-to-back winners. Of course.

The thing is when you see these big these big red day is like a $12,000 loss. That's what's always tough to see. So I think today you know. The thing that makes me frustrated is number one.

see Lbs. This just really really bad false breakout. It was just so bad it was a it. Now I'll say that this ends up being a triple tap.

triple top, one, two three, basically three tops there and that 1173 spot. that was a heavy level of resistance. It couldn't break through it and we got a big rejection there. So you know I'm gonna eat the thirty seven hundred dollar loss on that one.

Disappointing and an N/a KD that one's just frustrating. So Na KD was watching it pre market high was eight dollars. It had dipped down and then started to surge up. right here it was on our scanners hit the high Damos canner I jump in at 650.

So I jump in it at 650 because I'm like, alright, this thing looks interesting, looks like it's moving up. you know, maybe it'll get a move to $8.00 It kind of had this funny headline overnight. so I get into 650, it goes sideways I end up having to stop out around. you know, 6:15 I take a two thousand dollar loss on it.

Alright, so I stopped out. It ends up dropping all the way down to a low of five dollars and 11 cents. Look at that. five dollars and 11 cents.

That is awful and so I'm like man, this is just really a tough market right now. go sideways, go sideways. and then here it doesn't read the green move. kind of like Clvs except this one actually worked.

It breaks six, it goes up to seven and it gets halted right here. Five minutes Cerca burger halt or ten minute at 8:20 And so this is that moment where it's like by this point I was just feeling like I was feeling really maxed on frustration this morning because in the last last week I only made $2,000 Last week was one of the worst weeks of trading that I've had. and you know months I mean making only 2,000 for me. It's just is very frustrating.

300 a day, 400 a day, 500 a that is that is very slow trading for me. So I was feeling frustrated Monday had a nice green trade $7,600 and I felt like I needed it finally I was you know I was getting a nice big win getting a move higher and you know I I felt like you know that was a little bit of redemption and then Tuesday you know, thousand bucks and now today I feel like it gave back so much of you know so much of that profit so it's just a little bit frustrating. Um, you know to finally get a nice big win and then to give it back two days later. It's just irritating and to CC lbs not work out that you know that's frustrating and AKD frustrated.

so I was I was frustrated I was just like that's enough and here's the thing. I set a set of $5,000 max loss on my account and that means that today I cannot take a new trade if I try to take a new trade I'm gonna get rejected on the trade so I'll just show you as an example. I'll just try to buy one share and it's gonna say nope. Cannot place any long opening new position orders so it will not let me place the orders I can press it again and again and again again again.

Let's go say nope sorry can't place any new trades because you're down more than $5,000 So that meant it was just like I'm done. you know, ten minutes into the day I'm done and I'm not going to be able to take any more trades So that just makes me even more frustrated. And today it meant today I missed any KD However, you know what I would say is that if I take in this trade I probably would have been inclined to take big sighs I would be inclined to take big sighs because I'm down $5,000 and so the quickest way to make that back is to take ten, maybe fifteen thousand shares right now. Yesterday on CL BS just for reference, we had the stock do this kind of thing where it rejected it, did a false breakout on the first move and came down it, then comes back up again and this is the spot where maybe I would have been tempted.

I'm gonna go for it. it's gonna break the pre-market highs I'm gonna do it I'm gonna take a big trade on this and then what happens, it ends ups. you end up getting stopped out and that's how you go from being down 5,000 on the day to being bent down 7,000 being done, 8,000 being done, down 10,000. Now as it turns out, this one ended up working.

but this you know this would have stopped you out based on you know, following your rules on max loss, so on any KD God forbid I'd say jump back in it at seven and then it does this again and sometimes when it does it again, does it even more dramatically and it goes down to five dollars. It stops out. anyone who is holding through here. you know that could that? Then that's how you go from being down five thousand on the day to be done, ten thousand being down 17 thousand whatever it is and I just have to draw a line in the sand.

The June first was the worst day I've had Trey it was the second worst red day my trading career on June 1st down sixteen thousand dollars and it's easy to rationalize and say well you know I've I've made so much money that you know whatever I was I could hold it a little longer, hold it a little longer which is what I did and that's how in three trades I went. you know, down, you know down that much. So I was read on three names and you know there it goes. sixteen thousand.

you have to draw the line somewhere if you don't drive it. see I was down twelve thousand on this day on these two trades right here I was already down twelve thousand and then I took a FOMO trade on this one I jumped in emotionally and lost another forty five hundred. Stupid bad trade. Bad mistake.

So if I'm down twelve thousand and that wasn't enough for me to draw the line and say I'm done. You know what happens when I'm down sixteen thousand am I Gonna go ahead and take that fifth trade because what I'm noticing is that as my you know as my gains have gotten bigger and bigger. so have the losses right? See the losses get bigger, the gains have gotten bigger but the losses are getting bigger. Also what I want to do is I want to have the losses stay fixed where I'm not letting them get bigger, let the gains grow, but continue to respect your max loss.

So I've kind of been operating without a max loss for about a year and you know it's just sort of like, well, you know, I'm obviously I'm making money I don't really need to follow that rule. but I think the problem is that I've as a result, you know, let these draw downs get bigger and bigger. So this shows my max cumulative drawdown. So you know in 2016 my max drawdown was like five thousand dollars.

I mean I was only going down five thousand before bouncing back up and they made two hundred thousand that year? Two hundred twenty, you know? But then come here in 2017. I had a 20,000 dollar drawdown so that was a really bad you know, three two to three weeks of trading I lost 20 grand and that was after having taken 583 internally turning it into a hundred grand. So I you know, made some really good money and then I let myself, you know, just kind of let it too much of it go. And then you can see a couple other big draw downs here here and then here and you know this was on whatever this is.

June 1st losing sixteen thousand in one day in the day before I'd lost three grand. so down nineteen thousand two days I Don't want this to just keep going like this where I have you know the next draw down I lose 25 grand and then I'm losing. You know, 30 grand and 40 grand I don't want to do that? Yes, obviously I want the winners to keep going up and when you have exponential growth like this in my account, you know this is the growth in my account in the last two years. So this has grown really quickly and obviously to take the amount of risk to generate this type of return, there will be drawdown.

but I have to draw the line somewhere. That's what I'm trying to say. and so I'm drawing the line at five thousand and could I have made back some money on any Kady Sure I probably could have made back some money on it. however if it had gone the wrong way and given this one had pretty big spreads and the volatility was pretty crazy I could have easily been looking at a ten thousand dollar loss if I really was being emotional and aggressive and then boom, that's how I get break back to down here, you know? So I just can't do that I gotta draw the line somewhere and keep the hold to keep the whole small I've got to dig out of a five thousand dollar hole.

but I can do that in one day. I can dig out of a five thousand dollar hole in one day. digging out of a sixteen thousand dollar hole in one day? Well, you know it's possible, but that's a little more difficult you know. and my whole trading career best day was forty thousand, second best was 33rd best, twenty nine, twenty nine, twenty two and those are my five best days of all time.

So I've only had five days of my entire trading career where I made more than twenty thousand dollars in one day, right? So to make back sixteen thousand or twenty thousand and one day I'd have to have like my best day of all time and that one of the top five and that's just not. That's not logical. However, how many days have I had where I made more than five thousand? Well that either I've had more days than I can even count. So keep the whole small I can dig out of it quickly and then I get right back to green and the day for me to be really aggressive.

You know the day that I made 40,000 the day I made thirty thousand. Those weren't days that I was down five grand and then miraculously got myself to up 30. Those were days were the first two trades were really big winners and then I felt confident to take trade three, four, or five with even more sighs and boom I kept going up. I've never had the biggest day of my career start by being down three thousand dollars.

So yes, I've had some days where I've been able to recoup the loss and in fact on Monday I was down I think 2,000 before I finished the day up 7,500 So that can happen. but from down 5,000 to up now that that really doesn't happen down 1500, maybe down 2,000 maybe down 2500, maybe 3,000 Starting to get unlikely and if I go down further than that, the odds and be finished in a day in the green are very unlikely. So I called Lightspeed and asked him to set this max loss in my account. They set it on my account and now it's it's live now I could have taken the trade in my IRA today I could have switched and said I'm gonna trading the IRA But here's the thing I Knew doing that would be just emotional and and the thing is as any, KD was surging up I had stepped away from my computer I was like I just needed I'm just I'm annoyed I'm just got to walk away I can't just sit here and watch these things happen like I'm just not gonna.

That's just gonna annoy me I'm not gonna sit here and watch the market when I'm on my max loss I got to step away. so I step away I come back I See, it's halted and I'm like, you know, annoyed and just figure, well, whatever I'm not gonna trade it coming out of the first halt in my IRA There's way too much risk there, so I'll just come back at it tomorrow and again. That feels like that's also kind of breaking rules because if I'm down 5,000 on the day trading the IRA and it just doesn't feel like the right day to do it, so it is what it is. It's my fourth red day of the month, lost sixteen thousand on the first day of June lost fourteen dollars on June sixth lost $480 on June 11th and then here today I'm down 5700 We've got seven days left in the month I'm still down eight thousand on the month.

My goal really is to try to close the month in the green, so got to make a thousand dollars a day pretty much and I don't know. It seems like the market is is very interesting. Right now we're seeing a lot of big moves pre-market see Lbs. You know the bulk of the move was pre market the bell rings and it sells off so that doesn't really work with my strategy.

ASTC was the same thing. bulk of the move was pre market the bell rings and is selling off. so I do better with stocks that move during regular market hours and a KD I guess counts as that even though it did this ugly kind of move. But hopefully we'll just continue to see more opportunities off the scanners and you know we'll you know, get some.

Redemption I Don't think this is a market where it's safe for me to swing for the fences and it didn't swing for the fences today I Wasn't taking huge sighs. This is not a blow out day. I Mean you guys have been following me for a while know that it's it's a red day but it's not blow out I'm not gonna. You know it really makes no difference.

It doesn't change anything with my account. I did take out 20,000 yesterday so I could pay some bills. so I'm at 79 thousand this morning which I was okay with doing because I don't really need this much money in my account these days given that the markets slow. so tomorrow we'll be at 74,000 or whatever 73,000 and I just keep growing the account, get it back up to the 80s, the 90s, take some money out, get it back up, and you know it's just that.

grind. Two steps forward. one step back, Two steps forward. One step back.

As long as the big picture is still green, you know that's what counts. And and it certainly is. So don't don't feel bad for me today, it's it's not a big deal I'll be back at it and hopefully we'll see some better opportunities. Alright guys, so that's it for me.

and I'll see you all back here in the chat room first thing tomorrow morning. pre market analysis and we'll see if we can bounce back and finish the week strong. 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.

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