What's up everyone? Today's the first trading day of January and unfortunately it is a red day. so today's gonna be a red day recap. I reach a level four of frustration in my trades today. You can hear all about it in today's midday market recap.

Alright everyone, so today is our first midday market recap for the month of January and for 2018. So you know here we are at the beginning of the new Year and today was a little bit of a frustrating day for me. Got off to a really good start with three or four really pretty solid trades and then I ended up just getting a little bit too aggressive and then having several losses in a row. which is one of those things that is, you know, for me, really frustrating.

It's actually more frustrating to have I think it was for red trades in a row than it is to lose. you know, thirty eight hundred bucks or whatever it is. So I'll show you my PNL here today. you'll be able to see where where I'm at.

So giving back some of my profit from what was it Friday remember how much I made on Friday Let's see I finished on Friday with thirty? No, it was actually four thousand dollars. So I just gave back four thousand dollars was just basically Friday's profit. So that's only one day back, right? So you know, several steps forward. One step back.

it's not the end of the world, it's just a little bit a little bit annoying. So anyways, and you can see here the the trades that I took so very first trade out of the gates was bu RG and this is one that was gapping up this morning. we had news on it and it was moving up. cryptocurrency sympathy, all that stuff.

so on this one right out of the gates I was watching it for a possible pop over the pre-market pivot which I thought was going to be on the one-minute right around 4:40 so we were kind of selling off and then we popped up. We dropped down a little bit and I thought if we could break over that level that we would then start to move back up. So my very first trade was long 5,000 shares at 4:31 it pops up to 447 I sold a quarter, it drops down to 442 I sell more and I guess I sold the rest at 433 I then get back in at 450 selling at 453 454 adding back at 450 again a third time selling at 467, 463 adding back at 475, 468 selling at 497 and five and 484 high of day was 514 so you know on this one I was kind of trading in and out of that range. got back in it 493 499 or something like that sold at 499, sold a little more 512 so actually sold two cents off high of day which is not bad but you know getting in, getting out, getting in, getting out and I managed to make about $2,100 profit on the name.

So overall you know that was fine and then my next trade was Lte-a and I jumped into this with 8,000 shares at 698, its halted and it resumes and squeezes all the way up to a high of 765. So you might wonder, well how did I manage to make only a hundred and eighty eight dollars on this trade? So I was in, its halted, it squeezes up at tap 750 and what I decided to do was I sold at 7:38 and 740 most of my position and then I got back in at what was it I got back in. oh actually I sold some all the way down at 688 because it dropped down and then as it popped back up I back in at 7:44 and then stopped out at 675. So I went from being up two thousand dollars, twenty-five hundred bucks and then I gave it back on that trade.

So that was my first read trade of the day losing twenty one hundred dollars or so on Lte-a So I gave back most of my profit you know - one hundred eighty eight dollars. So that was frustrating and you can see it came all the way back down here to six and just it was not clean at all so that was frustrating. Then I got into Ch CI and on this one I got in high I thought it was gonna tap four dollars I got in at 371 as you can see I ended up stopping out at 3:19 You know it popped up here tapped 390. it couldn't get over that level and then it dropped all the way down here to 273.

I mean it dropped a full dollar per share. So on that one I lost 2,600 bucks and so at that point I went from being up two thousand four hundred dollars on the day to down 270 and I thought okay, I'm down two hundred seventy bucks. You know what? Should I just stop trading or should I look for another opportunity I saw SG RP hit the scanner and it was kind of like CH CI sort of looked similar to the way that one I looked when it first at the scanner. So I jumped in it and you can see here this was a total fake out.

It ended up dropping further down. Then it started. He went from thirty to forty nine and then all the way back down to sixteen. So I lost seven hundred bucks on that.

and so at that point after these four trades, I was down nine hundred and eighty bucks. So now I've got two losses in a row. three sorry, three losses in a row. Lte-a CCH CI + SG RP And you know that point.

I I should have just walked away because I was starting to feel frustrated. You know, having three losses in a row and giving back your whole day of profit is really frustrating and I took one last trade and that was on. MTP This one also squeezed up, got halted I got in after the halt and you can see here: I got in at 63, 62, 63 I got a little slippage on my entry and then it came all the way back down to 210 I stopped out at 206 I lost 2,800 bucks on that one. So that was the fourth loss in a row and you know at that point I was just like I'm done for the day this is I'm just feeling really frustrated and you know I've had days where I lost more than 3,800 bucks and I didn't feel frustrated at all because I just felt like you know I got into something and I stopped out right away and it just was a big loss.

but whatever today I felt really frustrated and I think it's for a couple reasons I felt frustrated. Number one because I had my daily goal I was up 2,000 bucks and I gave it away. So number one I had it and I gave it away. That's really frustrating.

Number two: I was wrong on four trades in a row, which just at a certain point gets very frustrating by itself. and number three, three of those four losses were big losses because I got caught in stocks that were really extended right at the tipping point and then they had that big drop. So you know today's a day where I wish that you know I really wish that I just said I'm down $265 I'm just gonna be done trading for the day I'm not I'm not even I'm just done because the very fact that I had my daily goal and I gave the whole thing back. how many days do you think I've had my daily goal, gave the whole thing back and then went back to being at the daily goal versus how many days I did something like this where I went back to break-even and then I just went further into the red I just wished that I'd I just walked away and so I'm frustrated number four with myself for continuing training even though it was choppy and I should have just I should just walked away.

So I'm really frustrated I don't I hate starting a month in the red I hate starting the are in the red. So now I'm in the red on the year. Whatever. it's the first day and 3,800 bucks.

The big picture is the money really doesn't even. It's not even the money. that's as much of an issue because that's only giving back one day of profits gave back the profit from Friday. It's more of the frustration of those four points that has me a little irritated, but you know that's that's just the way it goes.

And we had an amazing month last month. eighty four thousand dollars in profit in December and you know this is a different start to 2018 than I had for 2017, but just a reminder that you've got to stay focused and I should have been scaling down on my share size as I got further into the day not increasing my size and so that was a mistake. And today I just I just wasn't as focused and wasn't as disciplined as I should have been. And maybe it's being kind of.

You know, whatever. A little lakhs of days ago after coming back from a three-day weekend and just not as focused today. so the market will always remind you if you're not focused that you've got to get focused. So tomorrow we'll be back at it.

and you know my account is in the small rates. You know I'm at $35,000 this morning. I'll be at 31,000 tomorrow. so you know I'm I'm really got to be very smart I can't have multiple days like this or I'm gonna go below the PDT level.

you know I've got to get myself back into the green and dig my way out. So I really congratulate those of you that made your 2,000 bucks on Bu RG and walked away I know John Elton he's up 3,600 bucks today and you know why it's cuz he took his profit on Lte-a and then he didn't trade this crap. but actually he might have traded. CCH I had made a little money on it, but he didn't chase them so high as I did.

So you know that's being a little too aggressive and not following your rules can really quickly put you on the other side of the you know, the PNL line. So anyways, that's where we're at here today. Not the way I was hoping to start the month, but you know we'll get back at it, you know, first thing tomorrow morning and hopefully we'll have you know a couple of you know really good traits in the morning. The first couple trades you know are the ones that are most important.

so hopefully we'll have a couple of good ones to start the day tomorrow. All right. So anyways, that's it for me and I'll see all of you guys first thing tomorrow morning. Oh hey, I didn't see you there.

Well I was just working on the dream board for my next home run trade. Hopefully it comes soon. Until then, Make sure you subscribe to get email alerts anytime I Go live or upload new videos. Until then, happy surfing!.