Alright guys, so time for a early midday market recap. This is kind of a mid-morning market recap, but I've got some errands to run around lunchtime. so I wanted to just go over my trades here as we kind of come to the end of the first hour of the day. it's quarter of 11 right now and really I haven't traded anything since 10:05 I've you know, had some great trades, right? it out of the gates at the open and now it's slowed down quite a bit in the last 45 minutes.

So this seems as good a time as I need to do a midday market recap now. I'm finishing the day in pretty good shape I'm up 1925 dollars in my small account right here, so that puts me up just under 12,500 for tomorrow and then in my big account I'm up five thousand, Nine hundred and Nineteen dollars. So although this is good combined being you know, just under eight thousand dollars, I'm actually a little disappointed. and the reason is because my last two trades were losers.

I was up about nine thousand and a little over nine thousand. Nine thousand, Three hundred. and I gave back thirteen hundred dollars. So to make nearly eight thousand in a single day and feel a little bit bummed is good.

In a sense. having your last trade be a loser keeps me humble. You know it's kind of a reminder that, well, you know it was a good day, but then at the very end of winning the race, it's like you got slapped in the face so you kind of won the race, but you're kind of left with this sour note and that's where I'm at today. I'm happy with the trades I Feel like it was a for the most part a good day but I I definitely ended with two losers.

So the good news is that I'm not going to go into the day tomorrow feeling overconfident because you know my last trade today my last two trades were giving back profit and that's good. You never want to be an overconfident trader because we can get into that mentality. You can start doing some really sloppy stuff. So for those of you that are on screen share I'll show you my P&L here.

I already showed it For those of you on Facebook live, let's see. So I don't know if I really deserve to write to light the candle this morning smells good but because I ended the last two trades you know gave back some profit I don't know I I think I'll just go ahead and light it anyways. why not There we go. Okay, so Candles Celebration $8,000 I'll take it And here's here's my trades for today: So $1,925 in the small cam and you know that is pretty good.

That puts me about halfway to the $25,000 mark. That's really, you know that's what I've got my my sights set on and I can't wait to get there. It'll be a relief when I get there I Don't know why It'll be such a relief I mean it just feels like getting past that point is a big deal and that's when I'll switch my account and so I'm excited about that. And then you know six thousand dollars in my small account or my big account will put me up tomorrow around 52,000 and better than then.

Either of that is the fact that I'm now up over $35,000 on the month, making this my best month in the last year and a half. So my best month of 2016 was June and I made thirty four thousand five hundred. So as of today I've I've shot past that. Obviously we still have three trading days left in the month, so I still have a chance to to give up that position.

Is this being the best month? Hopefully I don't, but you know I'm not going to I'm not going to celebrate until the month is done. but you know right now as of right now I am up over $35,000 and I think I might have a chance at 40,000 you know I just really need a couple more winners, a couple more decent trades and I'll get there. So let's go over today's trades. We'll talk about what it did right, what it did wrong, and why I feel a little bit disappointed that I gave up some some of my profit and then we'll do some Q&A So it's gonna be a little bit of a shorter recap today, but well, I'll make sure I get as many questions answered as I can.

Okay, so to start the Gap scanner this morning, let me pull this up here. All right. So we're gonna do historical data scan for 9:00 A.m. All right, so you guys can see.

this is my scanner for 9:00 A.m. This is what I was looking at you know when I'm starting my day and I saw FF HL as our leading gapper with a 4.5 million share flow gapping up 40% And there was news. All right. So this is the stock that I made 1500 on in my small account and I made 4200 on in my big count.

So this is right off the watchlist. I mean it was on my watch list and it was right off the Gap scanner. So what made me want to trade that? All right? let me put this over here. so I see it's gapping up and I go through the same process I go through every day, you know I Wake up I Opened my laptop I Checked the Gap scanner All right.

FF HL Let me take a look at the chart I look at the chart and I'm like, okay, you know what? this is good. Why is it good? It's good because it's opening above the 200 moving average. It's obviously as well opening above the 9, the 20, and the 50 moving average. So it's opening above any of that resistance.

So that's good and it has a history of being a runner. This is a day where it went from $1 80 up to 450. So that's a really big move, right? This is a stock that has a history of making big moves and today it's gapping up with news. So could today be the day that it makes another big move and the answer is yes because has a history of making moves when it has news.

So given that all I need to do is find my entry. So I'm looking at the chart pre market and I'm thinking okay, well we have a pre market high here of 360 pre market high of 360 looks good I would I would like to get in under the half dollar of 350 if really I you know that's exactly where I would like to get in but at the same time this is a stock that if the market opens and it starts to move I just I may want to just jump in and that's what I ended up doing. So the market opened here and we opened at. let's see, the open price was actually 370.

so we kind of opened high and we dipped down for a second to 351. and when we dipped down that's when I was like okay, I'm gonna jump in this so I pulled I put out my order to buy 2500 shares and I filled I'll show you right here: I filled 70 shares at 375 only 70 so you know this was me trying to get in and I only filled 70 shares. That's so disappointing I ended up adding up here in the three, six in the four 60s almost $1 higher per share. That's where I ended up adding because I you know wanted to get a piece of the action.

but obviously I was trying to get in that at a much much lower price and I was very very frustrated that my orders didn't get filled. but this is part of the deal. When you're trading a fast-moving stock, you put out an order. if it moves too fast, it's going to be above your where you put your order.

I mean the only way I could have guaranteed I would have gotten my position is if I had used a market order but then I would have gotten filled a lot higher now in my big account. I got filled at 389 and 405 so I filled pretty high in that account and I was like that's fine I can give it some room but in a small account I really have to be very dialed in about getting the exact right entry so you can see here this started squeezing up. We went up to a high of let's see five seventeen now on this candle right here. This is the second candle of the day at 931 we had a little bit of a doji, we went up to a high of 72 and then we pull back and so as the price came up and started to break over that level it basically if you broke down that one-minute chart, that one-minute candle into a like 10 second increments, you would see that it went up it, pull back and then it started to curl back up just by watching the price.

That's when I got in in my shirt trader account and I added there. So I got in at 460 and 462 and 468 and 470. so kind of mixed fills in that area. and then we squeezed from there up to $5 and in that trade I was able to make I think it was 30 cents on four thousand shares.

so you know in and out 1200 bucks and you know I was like okay, that's good. Meanwhile, I also added in my big account had 10,000 shares with like a 4:30 average. we popped up to $5 I sold over the pop and as we came back down I stopped out of the rest. So the thing is realistically, I could have made that same amount of money in sure trader because I had the buying power I've got $70,000 in buying power I could have taken that same exact trade and made $7,000 in sure trader today I could have and I didn't because I didn't get filled on that first order.

So you know again, a little bit of frustration there I Decided to buy the first one minute candle to make a new high which was an entry over $4.99 So this squeezed up those first three candles, pulled back one candle, first candle to make a new high I added here now again as this was starting to spike up I added we got the high of 5:20 and then we rolled over now I Sold on both sides, an insurer trader on that trade I had a profit and in my big account I gave back $1,000 so you know and because you can see how harsh how harshly this was rejected, it squeezed up to 5:20 and then dropped to 430 and this is almost the same thing we saw yesterday on: CDTI first one-minute candle to make a new high. It's a great setup and it just did not work. so that was obviously disappointing on that trade. I got myself up to being up 1,900 in my shirt trader account because I got a winner on that first pullback and in my speed trader account I held thinking that we might get to move to 550 open up and I stopped out with $1,000 loss.

So that was the first trade on it. Now at that point I was like alright, you know what? Yeah, I Kind of am feeling a little bit frustrated and something I'm going to talk about tomorrow is learning to be learning to have a sense of a sort of presence of mind when you're starting to feel frustrated and flustered to adjust your trading because you don't want to trade when you're angry and so I was starting to feel frustrated. So this FFA Chalcis or starts consolidating here I decided a little while later right at 10 a.m. that I would add back over $4 for the move thinking that this was going to be the first five-minute Campbell to make a new high and we would get that curling action and a move up towards 5 450 maybe even higher.

So I added back right here first 5 min to Kindle to make a new high and as you can see it went red right away. and that's where I lost another thousand dollars in my speed trader account and I lost 350 or 400 in my small account and that's why I'm now up only 1500 on that name. So that and that was my last trade of the day and that was the one where I just felt like I got in. It was a good quality set up, it just didn't work so you know it is what it is I stopped out and took the loss and I had the cushion on the day to be a little aggressive and take a stab at it, but it just didn't work out.

Now in between my first trade on FF HL and my last trade I took a trade on MSD I MSD I was hitting the high a day scanner the high Damos scanner and I saw this and I was like ok you know this is an interesting one. This is a stock that is also former runner has a history of making big moves and you can see here the the alerts on the high Damo scanner to 10 to 15 to 18 etc. At that point it was up 39% on the day, 40% of the day so I was like ok, this looks good I'm gonna jump in try to ride that momentum so on this one I got in again on this we were on the 1 minute timeframe, got in at let's see for the break over 250 I got long at 248 and 250 and we spiked up to a high of 295 which is awesome. Nice quick pop in.

My small accountant made $583 and in my big account I made 1,800 a little over $1,800 so you know that was a good trade and I know today is one of those days where we were just seeing these stocks moving. GLB Yes this is another one that I didn't trade today but in the middle of the morning it went from 750 all the way up to $10.00 ran up two and a half points I didn't trade, it went without me but it just goes to show that this is one of those days where there have been a lot of opportunities and you've got to be able to, you know, kind of jump from one to the next. and the high day scanners just sort of been blowing up all day long. Tons of alerts on this and some of them have just looked at like see psh and I said oh I think I'm gonna pass on it I ended up not doing too much pul em I passed on as well.

It ended up making a pretty nice move. From a dollar fifty up to 260. this'll be up almost a hundred percent today. So this is one of those days where being aggressive is going to tide me over potentially for the rest of the month.

You know the rest of the month might be slow. I Mean this whole week has been slow up until today. It's been a slow week. So let's see, my total profit today is seven thousand, eight hundred and forty five dollars, and my total profit on the week is eleven thousand, you know? So basically 70% of my profits came from today came from one day, one opportunity.

You know, two trades, whatever it is, and that's that's an important thing to realize that if I have a day like this just once, let's just say once a month, let's say I have a day like this twice a month where I can make eight thousand dollars or so. Well, that's sixteen thousand dollars a month. If I could do that twice a month, you know every every month I'll be up over 150 thousand dollars. This year, you know it'll be a great year.

And so that's kind of the thing of realizing that two days out of the month can make or break your entire year. Potentially, when the trading is hot, you have to be aggressive, and when it's slow, you have to have the ability to just be patient and wait for better opportunities. And again, I'm going to talk about this more tomorrow. Tomorrow at lunchtime, we're going to go over the best and worst trades of the week and we'll talk about one of the kind of my sort of personal lessons from the week.

One of the things that has really been something I've been mindful of which is being patient and we're also going to do a long Q&A session. so that's tomorrow. At lunch time we'll go over all my stats for the week and you know best and worst trades and stuff like that. All right guys.

So let's see now as we go into lunch hour, you know it's 11:00 a.m. right now, but we were very quick in the morning. lots of opportunities and that slowed down quickly. Slow.

Just kind of slowed down completely. So now as we go into the lunch hour and in the afternoon, you know the only things I would really be interested in would be reversals. They're higher priced STX is one that I was watching for a reversal and ended up being a pretty nice one. but again, you'd have to tie up a lot of money to take that trade so no trades on that one.

GL BS Even though there are maybe some opportunities this morning, it's just not the cleanest one to trade at this point. And you can look at the daily chart when you look at one, two, three, four, five, six doji candles in a row. And those doji candles. you know their candles where the opening closed is almost the same price.

You've got these long upper and lower wicks. Those are candles of indecision, right? They show that there's a tug of war going on between traders and I really don't want to trade stocks that have that tug of war I Want to trade stocks that have a clearing that I think will have a clear imbalance between buyers and sellers. So you know whether it's STX because of news or its FF HL You know choosing which one to trade is just a matter of managing your risk you know, and doing a risk risk reward analysis. Which one can I risk the least and have the most profit and that's almost always going to be stocks under $10 We because I could potentially take a very large position and if it goes up, you know 50 cents or 80 cents I'm making 10 20, 30, 40 percent gains.

Alright so I know some of you guys are watching Matt and Ma T Mattel This is one of those ones that is very active today. Big gap down consolidation and is you know it's definitely worth watching it. It has high relative volume, the float is higher, but it's got a big range. We know it's going to trade in a pretty big range, so there'll be a lot of opportunities on that one, you know.

But again, the risk is higher in the sense that you're going to tie up more capital to trade that stock. Yeah, Mike And so you know. That's the thing you realize with all of these stocks GLB SF F LH or FF HL that you don't want to chase them. You need to have the right entry Because look, you know there's people that probably bought G lbs up here at the 990s thinking it was going to go over 10 you can get so tunnel vision so focused on trying to capture profit that you forget you know you're You're out on a Ledge without a rope and you can fall off and that's the end of it.

So you have to be really smart now to answer your question. I Try to get in at the apex point of all patterns so the apex point is the first candle to make a new high. In the case of G lbs, it was around 10:15 First camel to make a new high was breaking over 9 10 or 9 20. so my entry there would be 9 20.

Well, I'm going to give it a little offset so I don't run into the issue I Had today with F F HL where I only got 70 shares. so I put my order usually like 925 or something like that and I see my OS popping up here. This is one that we had on our radar because it ran on the same day as F F HL Now my concern with this is that the volume is light. I Really like the daily chart for this curling action, but our volume today it's only 50,000 shares.

It's hard because this it's a nice setup on the day leave and I could easily see this going back to four. maybe even four fifty or five. Maybe we'll just watch and see if volume comes into it. I'm not sure if we're gonna get the best opportunity though, even though I like it.

I'm concerned we won't see enough volume. Maybe wait till tomorrow unless we see some big orders start to go through. and David for scanning I use trade ideas so that's the platform. that's the software that I use and then I create all of my own scanners inside it.

It's kind of like using like Microsoft Excel like you've got the platform and then you've got to put in your tables and stuff like that or use your formulas. So that's what I've done here has created all of these scanners based on what I think are the criteria for home run setups. Every trade that I took today and that I take in general is a limit order, but I used that offset. So if I want to get in a stock at even F F F HL I wanted to get in at a 370 I put my order at 375 I thought that was enough room, but I only filled 70 shares at 75 and then it was above my order.

So you know that's just the way it goes sometimes. but every order is the limit order and I just use that offset to give myself a little bit of room above the ask. so I can hopefully get my full order Santiago the five cent tick a pilot program I'm just going to give you the link to that. Let's see five cent here and you can.

you can read about it. I've got a video on it and a pretty long article. I offset from the ask price when I'm buying I offset from the ask and when I'm selling I offset below the bid because again, if I want to sell two thousand shares and there's only a hundred sitting on the bid, you know 354 well I'd rather just put my order down at 349 and make sure my whole order gets filled. I Don't want to have to cancel it and sell it again and that stuff.

thanks Brett Yeah the scanners had pul em today I just I passed on it because when I first saw it on the scans, there was a big seller fifty thousand share seller at 202 and I was like wow, this guy's probably going to be an issue I'm just gonna leave it alone and then you know next thing you know it ended up breaking over that level but I didn't think it was gonna be as clean. All right guys. So I think that'll do it for me today. Keep my OS on watch I know I'm you know I'm not sure I'd just be cautious on it I definitely have the cushion, but right now you've got 10 cents spread and pretty light volume so we would need to see some volume coming into that.

If you see that ramping volume you see more and more buyers coming in the ascending volume on the 5 minute chart, then there may be an opportunity to take a trade over 3, 330, 340 or 350. So 10 cents top 20 cent Profit Target initially. unfortunately 10 cents tops. It's going to be hard when you've got a 15 cent spread, so have to reduce position, size and kind of manage that risk accordingly.

All right guys, I will see you all first thing tomorrow morning. Let's be honest, if you made it this far, you must have really enjoyed that video. So what's stopping you? Subscribe right here and get email alerts any time I upload new content. Until then, happy surfing!.