What's up everyone? Alright, so here we are Monday morning June 4th back in the saddle and you know what this is part of trading I got a knock down on Friday and I got right back at it Monday morning the whole weekend I was really just I wanted to get back in the saddle because you know it's kind of one of those things where when you screw when I screw up, it's something I want to try it again right away. It doesn't matter what it is if it's you know, skiing, going off the jump. if it's water skiing, wakeboarding, you know I just I want to try it again. try it again.

until I get it. And so if I have a day where I lose money I'm always eager to get back and you know, just kind of get green again. Now there's difference between doing that and revenge trading. Revenge trading is when you're aggressively trying to make back the loss and that's something you have to be careful about because if you have a big loss three, four, five thousand dollars, whatever it is, fifteen twenty fifty thousand dollars, you're never gonna make that type of loss back in one day.

So you have to sort of separate those two emotions. Am I trying to revenge, trade or am I just trying to get back in the saddle, back on the horse and start making my way back up. And that's really what it's about for me is I just want to start. you know, making my way back up you know, one step at a time and today Green Day Thousand dollars.

That's good I'm happy with that So an accuracy was on point. Five out of six trades were winners. So and today was a solid day. and having said that, the market was still a little choppy.

It's been choppy the last week and a half and so I'm in a market where I have to be a little bit more disciplined, a little bit more careful and unfortunately today I traded smart so we're gonna do it again tomorrow. But anyways, let's break it down today's trades and today's midday market recap. What's up everyone? All right? So let's see here we are back in the saddle. Today is Monday June 4th So alright.

PML Today, finishing the morning up 1140, seven dollars and fifty six cents. Not bad. Green is good. You know today is just a solid Green Day thousand dollars.

I'm happy with that. Thousand dollars for a long time was my daily goal. Thousand dollars a day. And you know in the last six eight months I've kind of increased that daily goal to like three thousand dollars a day.

And that's really what I've been averaging almost every swell averaging. Let's see as of right now, mm mmm 763 dollars per day this year. So having a three thousand dollar daily goal is, you know it's not unrealistic. However, we know that some days getting three thousand is just not gonna happen and other days you know you're gonna hit five or six or 10,000 so they all average out.

So even though you might look at your averages and say oh, I make X amount on average it doesn't necessarily mean that you should be fixated on trying to hit that amount every single day, because some days will be better and some days will be worse. And today's a day where I'm up a thousand and I really shouldn't be trying to swing for three thousand dollars of profit. It wouldn't be. It wouldn't be realistic, it would be way too aggressive and I would most likely give back the thousand dollars that I have.

So let's see what's going on over here. So you know, I'm gonna be happy with a thousand dollars. Today is the 99th trading day. Alright, day 99 of the year.

So one thousand, one hundred forty seven dollars, and 56 cents. Green's good. I'm happy with that now obviously. I had a red day on Friday and my only goal today was just to be green.

Even if it was just five hundred dollars, you know it wasn't to try to, you know, make 10 or 15,000 It was just too close to date green and even though Friday was a big red day, I've had bigger draw downs and that's the thing you know that's kind of interesting. Oh yeah, I see that I'll reset screen share. Let's see, did you do too? So I've had bigger draw downs and so when I talk about drawdown. Drawdown is the difference between your all-time highs and the lows of their pullback.

So if you go from being up a hundred thousand on the year and then you draw down to 75,000 you've got $25,000 drawdown, right? Because you drop 25,000 and that that could happen in one really really bad day. Or it could happen over the span of two or three weeks of choppy trading. you know, lost here, lost there, just kind of slowly. you know, losing a little bit more, a little bit more each week until things turn around.

And so for me in the last year. So my max drawdown is right around $25,000 and you know that's not an insignificant amount of drawdown. I Mean it's a it's a fair amount, but it was never in one trade. it was always over the course of you know, two or three weeks of just choppy trading where you know I made some profit and then I blues and then you know one step forward and then two steps back.

Another step forward, two more steps back and you know when you're in that type of market where you're just grinding, it can get very frustrating and you can start to give into FOMO and it can make you know they'll It can make the losses worse. So in any case, even though I had a good-sized loss on Friday the way I'm kind of thinking of it is okay. I basically ate up my max drawdown in in in one day and now I have to start moving back up. you know I can't continue to drawdown I have to just off that level, you know, start heading back up.

So this is my my drawdown chart. so let's see: I had drawdown of $20,000 in April of 2017 I've had draw downs of seventeen thousand, Fifteen thousand, Fourteen thousand drawdown here of 22,000 drawdown here of seventeen thousand. these are both this year. You know these were almost back-to-back I was down 22,000 then I bounced back.

Then I was down six, sixteen, seventeen thousand. Then I bounced back. So realistically, you can see the draw downs are getting bigger, but that's relative to my account getting bigger as well. So as my profits have gone up, I've been willing to take on more risk and so that's even though this looks, you know, maybe not great.

It's relative to the account growing because when I started this account, you know those small gains. You know it was a very small account. So anyways, you know right now at whatever it is on drawdown I've got to be careful not to let it go any further. So today's the first day digging myself out of the hole.

you know, one shovel full and there's a thousand bucks. All right tomorrow. let's do it again. Another thousand bucks and then Wednesday Thursday Friday and just slowly start digging myself out.

And I don't mind if I have a red day this week. you know, as long as I don't go deeper than the low of yesterday. So right now basically I could say I only have about eleven hundred dollars of profit to work with. You know when I'm thinking about tomorrow I don't want to go down more than 11-hundred because then I'm going to be use back to you know, hitting my max drawdown.

So tomorrow I want to make sure I don't risk more than like five hundred dollars on a trade on the first couple trades. Once I start to get into the green, then I may feel comfortable taking a little bit more risk, a little bit more risk and that's fine. But initially I've got to start a little bit small so let's see today actually was pretty good I took six trades and I had five winners and and I'm happy with that on bky I this loss I was talking to John he made money on he made actually I don't know how much you may prior on a thousand bucks but he got in it much earlier than I did and he sold into this squeeze and you know again you know I I was a little aggressive on this one getting in at let's see - let's see 350 350 for selling some at 63, some at 54, then the rest getting stopped out. so I got in at the half dollar up here at 350 thinking it was gonna maybe squeeze into a circuit breaker haul.

that's what I thought because it had just moved this much. but but it didn't and then it dropped all the way back down to 255. What a ugly drop! It ended up rebounding a little bit, but I just was a little cautious on this. I didn't get in until the volume was a little bit higher.

By the time I was in, it was probably 300,000 shares of volume down here. when it first started moving where John got in at 260 or 270, you know that was A that was a good entry. I mean oh, that was nice, but for me I just chased it up a little bit. So I gave back some profit on that nine hundred thirty-four dollars.

But when I had that loss I already had profit on a ETI so I was already in the profit zone which was good. So a ETI we were watching this one out of the gates and I honestly did the same thing I got in this at the half dollar I got into the dollar fifty and it squeezed up to 54 and was halted on circuit breaker. So my initial entry on AET I was not really any different than the entry on bky I Got in at 47 and at 50 75 hundred shares sold three quarters of 53. It then pops up as it resumes from the halt to a highest well now I've like 65 and then dropped down I sold the rest and then I got back in at 62 and I sold a 69 71 and I think 73 in there 72.

so maybe like 300 on the first trade, 200 on the second trade had that loss on Bky I and then back in a ETI now with 7,500 shares of dollar 77 and that was as it was squeezing up right here. So I jump into 77 it hits nine - it pulls back I hold through the pull back, it then comes up and hits 97 and I'm scaling out into that pop I guess I sold it 89 and 92. It wasn't able to hold the highs of this level so I hit 97 and then pulled back. Small little scallop on chn are easy trade right off the scanners, you know, not.

not too much to say about that one. just jumped in this one. 320 was a little bit of resistance I ended up selling fast cuz I saw a big 25,000 share seller at 325 so got out of that quickly $156 and then a couple more little scalp trades on a ETI in at 94 out at 202. that was on that final squeeze up through high of day the high was 200 soups a ETI the high a day was 202 and I sold 625 shares a high a day so not bad on that one.

Overall pretty good. one thousand nine hundred twenty-five dollars profit there. gave back a little bit on bky eye and made a little on chn are and you know that's a kind of low stress. thousand dollar day didn't take massive share sighs.

7,500 shares was the biggest size today. Certainly could have been more aggressive but chose not to be. You know this morning I did that pre trading checklist did I eat well? The answer was yes Did I sleep well? The answer was yeah I slept I slept pretty well. What's the market like today? The answer was at the market this morning looked choppy.

the last five days had been choppy, and there wasn't anything on the Gap scanner that looked good. So that made me think. all right, well, market conditions right now we're only so-so day of the week it's Monday Usually Monday's are strong, but you know, let's be a little bit more conservative. Also, keeping in mind that I had a red day on Friday and he's just kind of.

you know, get myself out of the hole. I Had a stress dream over the weekend that I lost another twenty thousand dollars today. So I'm just glad that that dream wasn't a prophecy and that I was able to manage my risk and you know, keep myself on the green side of the PNL line today. So thousand dollars a day keeps the job away.

I'm happy with that and I'll be back at it tomorrow. You know this is the thing with training. You just gotta, you know, keep your spirits up and you know you're gonna have days where you'll lose money. That's inevitable.

It's it's you can't get around it, but you just got to bounce back and not get too bent out of shape about it. And so you know here we are. Monday Morning Thousand Dollars Green is good and we'll be back at it first thing tomorrow. Tuesday 9:15 pre market analysis and we'll start trading as soon as the bell rings at 9:30 All right everyone, So that's my game plan and I will see you all back here in the chat room tomorrow morning.

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