All right everyone. Well, I realized that I missed a perfectly good opportunity to wear this shirt. It is Valentine's Day and I have a gift for all of you for our current students. I'm going to hang out with you for the next hour and give you the gift of me.

We're going to do a little Q a uh for those on uh, Youtube you're getting the same gift and you're also getting a gift. Uh, if you would like to use a coupon code Valentine40 to save 40. All right. So uh, I can't believe I forgot to put this shirt on this morning when I sat down.

but uh, I did. So it was my mistake. But I'm making up for it in a big way here. So I want to talk about, uh, the market that we've been in here.

uh and those, uh in the chat you can, uh, post you. I think you know how with with a question mark. um you can make a post if you have a specific question for me. Uh, I will get through as many as I'm able to.

Uh, we'll hang out for about an hour, uh, until about five. Uh, it's a little less than an hour. so uh, before we get into that, um, we've been in a, uh, a sort of choppy market and I think that there's uh, a lot of traders who are sort of asking these questions of how do I trade in a choppy market and this is forcing me to sort of get step back a little bit, go back, maybe to the drawing board and figure out you know what's working, what's not working, Because in a market where we have a lot of volatility, we're seeing really big, really exaggerated moves. You'll see a stock go up 400 500 percent.

and so even if you only capture a tiny bit of that move when the move is huge, a tiny bit of a huge move is still pretty good when the moves are smaller. Catching a tiny bit of a small move, well, sometimes that's actually taking a loss, right? And that's what I think a lot of us have experienced. So today was another decent green day for me. Um, I'll log into my account.

uh, just to show you so my reti my main account is at zero, my retirement account is at 6 600.. As always, my results are not typical and the typical result of most beginner traders is losing money. So I want to say that from the very very beginning. Here for those tuning in on Youtube especially, trading is risky.

Don't trade with money you can't afford to lose. Take it slow and trade in a simulator before you put real money on the line. The good news for those of you who are seeing that we've got the coupon code for 40 off. If you go over to the Warrior Pro class, you go to products and you go to Warrior Pro.

You will see that our Warrior Pro membership includes of course access to my flagship day trading course, access to the chat room for a year. It also includes access to a trading simulator because we want to encourage you to practice this simulator before you put real money on the line. That's why we give you access to the simulator real-time market data so you can practice trading and software Very, very similar to the software that that I'm trading on. You can jump in, you can jump out, you can be actively trading the markets and getting that practice and that's what you want to do.

You want to practice before you put real money on the line. All right. So I'm going to move this back down here. So now in the last, um, 90 days or so, Uh, you know I've been on a little bit of a slump.

I had a little bit of a pullback the first. Um, well, sort of. Actually this was right here January 4th so that was the very beginning of the year, so you can see. I mean, I've made some money, gave a little back, and now I've made back a little bit.

These are pretty big numbers as you can, probably, uh, see if you're looking at the mouse over and I'll go full screen so you guys can see this a little bit better. These are large numbers. Uh, but uh. We're definitely a little bit of a grind and so one of the things that I've been focusing on here in February is trying to get in, get green and get out, not overstay my welcome, and be grateful for the small gains.

As a result, my accuracy has been pretty solid. So let's look here at detailed and we'll look. We're going to focus in just on accuracy here. So Accuracy: 69.4 percent? Uh, if we go back to last year or January, accuracy is at 71.7 percent.

That's pretty good, right? So out of 200 and I have 315 trades, 226 have been winners so far This year, let's go back to 2020. Let's go back two years and we'll go to today's date of 2020 and you'll notice that uh, on today's day of 2020, I was up uh, 64 000 with 64 accuracy, Similar number of trades 334, but only 214 winners. The accuracy was a little bit lower and 2020 was the best year that I have ever had as a trader. But on this same day two years ago, in 2020, I was actually up a little bit less and it's a reminder that we don't know what's around the corner.

We don't know what's coming next. We don't know if we're going to have another game stop or if we're going to have another you know, crash in the market. We don't know. But if there is volatility, I will be here ready to capitalize on it.

And my goal for you guys is that I'm able to teach you how the financial markets are working so you understand the ins and outs of them. I'm able to teach you about day trading to the point where you really understand it and my goal is to teach you the strategy that I trade every single day. not with any guarantee that you'll achieve results similar to me, but that if you're wanting to learn more about trading, learning from someone who knows what they're doing makes a lot of sense. Graham.

Uh, you can email Steph at Warriortrading.com for a renewal. So if you're a current member and you want to renew your membership, you can use Um. we do have coupon codes for Valentine's Day so you can email Steph. You can also email team.

That's fine too. So Mark said, um, one thing holding me back. If you can't sell on the Ask: do you just hit the bid Too Many of my trades go green and then go red because I can't sell on the ask So that's a great question and we do talk about that. Uh, and I talked during the chapter on Hot Keys specifically about some of the variations that I will make to hotkeys and selling on the Ask depending on the type of stock that we're trading.

So just as a skier of course it's ski season and the Olympics are happening. You will put you'll wax your skis differently for different conditions if it's different temperatures out, you do want to make some modifications to the type of hotkeys you're using and the type of routes you're using and the offsets you're using based on market conditions. And that can be not just hot and cold markets, but actually the type of stock you're trading right now today. So a stock like Gamestop that has a really large spread that's going to be a harder stock to sell on the ask.

Just because the spreads are bigger, you're going to feel much better if you do offsets between the spread, you could do midpoint orders. You could do pegged orders. You could do five cent offset below the ask. You could do 15 offset above the bid you could do.

There's different approaches for trying to get in the middle of a spread when you have a big spread, but um, it's a good idea to take some, um, some type of approach. This is what we call a fairly big spread right now. We've seen this more than once, we certainly saw it on Gamestop, and so what you want to try to do is cut an order right between. So if you want to be a buyer rather than buying right at the ask, you could buy at the midpoint, but you can also sell at the midpoint.

All right. So um, so that's high level, but there is more detail in the answers to that question than nuances in that chapter of the classes, so I encourage you to check that out. Uh, but so you know. kind of going back.

The the big thing. Uh, of course, last year was a great year for me. Uh, 2020 was a great year for me, but 2020 started kind of slow. Uh, just as this year started kind of slow, but ended up being the best year I've ever had.

Could this year become the best year that I've ever had? It could. I wouldn't say that I'm expecting that because I think it. I don't want to set unrealistic expectations for myself that I'm always doing better better better because one of the challenges is with setting goals. In a way, it's like what's the point in trading and the reason I say that is because it is so there.

So much of it is completely outside of your control. We have no control of whether or not there'll be another game stop. We have no control over whether or not the market's going to drop 30 percent or just keep grinding up another 10 15. That's without, that's out of our control.

There's nothing we can do, but what we can do is we can dial in our own discipline to be very aggressive when opportunities strike, to be more conservative when the market is cooler, and so being a bit more conservative while the market's been cooler here these last few days, I've been pretty happy. You know, average This last, you know. Averaging set almost 72. Accuracy is good.

Um, being able to have February almost all green. Yeah, I had one red day, but bounced back quickly. These last three days were terrific. Today 6600 is terrific.

So that's four green days in a row. And it's let's see. Uh, let's see 4, 5, 6, 7, 8, 9, 10, 11. one red day in the last 11 days.

So green 10 out of 11 days of the last 11. And that's you know, maintaining really good accuracy. So that's me keeping my head above water. Now if I focus on the daily goal that I might have of 20 000 a day because that was, uh, what I was at.

Just a shot. A little shy of what I was averaging. uh, from about 2020 to Uh 12 of 2021. Roughly just approximately about nineteen thousand dollars per day.

Holy moly, Nine million dollars. Gross profit. Geez louise, that's a lot of money. So it was a a pretty a pretty epic run there.

And it is slowing down in these last couple weeks. But even within that two-year period I had, uh, I had very cold months. I had somewhere I basically was break even and so that's not totally uncommon during a hot streak to have moments of pullback. And so what's important is being able to dial it in, slow down, and then pick back up when it's hot.

So um, step, um, Stephen. So I noticed you did a really good job avoiding getting burned in false breakouts this morning. What additional factors did you use to limit your entries? So one of the things that I've been focusing on is trying to get in, get green, and then if I go back, going back a little bit smaller. now.

I didn't do that super well on um, a couple of the trades. I took A couple of the trades I did size up a little bit bigger when I went back in, but that's kind of what I've been focusing on right now and trying to address aggressively trade first and second micro pullbacks, and then not overstaying too much third and fourth, and also trading first and second. Uh, one minute pullbacks, but not, uh, too much beyond third and fourth, or first and second into third and fourth. So the simple answer there is that I've been trading with smaller size, which leaves me lighter on my toes so I can move out of the way faster, so if I feel like it's not breaking out as quick, I can jump right back out.

And with smaller size, I'm not really getting that much slippage now. Craig asks whether we can apply, um, some of the strategy for trading large caps, especially very strong stocks. maybe Tesla on a day where it's particularly active. And yes, you certainly can.

One of the things that I'll say is that when I try to day trade stocks like Tesla, one of the things that I often do and I did this today, but I do it in general is I like to trade breakouts. I'm a breakout trader and I like, of course to trade Momentum. Now Tesla had a decent a little bit of momentum this morning. This would have been a breakout right here at Um.

88.78 All right now. That gave you a squeeze here up to 8.85 That's not bad. And then it continued before a red candle. it continued almost all the way up to 900..

So that ended up being a solid breakout. This is an Abcd pattern on the one minute chart you can see right here, plain as day. However, one of the things that I have found especially on a stock like Tesla is that buying at breakout spots can give you basically a high update entry and then if it falls breakouts, you're stuck with like a three four point flush and those false breakouts can be really nasty. So for that reason I, even though I do, you certainly can apply Momentum Breakout trading to stocks that are large caps.

like Tesla. You do have to be a bit more cautious and accumulating along moving averages is going to make more sense. But then what gave you the confidence to trade this today? It has low relative volume. It's not particularly high.

the volume is somewhat light. The spreads are fairly big, so even though you end up in hindsight seeing this nice pattern in the moment, you would have seen that. The last time it came up to this level, it did a nasty false breakout. Then it came up and it did it again.

It went to 878 and then dropped to 871. a seven point flush, and then it came back up and broke. So one of the things that's hard is getting in and out break even on large caps because the spreads are bigger, so that requires you to have more conviction or start scaling in because it's just not as easy to get in and out unless they have really high relative volume. So on a day where they have really high relative volume, then maybe so that that's a good question.

Um, and Jake, you seem so quickly. Um, jumping into different stocks or using different scanners? No, these are the scanners that I'm using every single day right here. Um, right there. However, I do keep a close eye on the chat commentary and so if I see someone type a stock, you know and someone might say Xyz is moving, you know Ipw's moving.

Let's just say I might pull it up and then take a look and say, indeed it is, You're right, it's not on my scanner. Perhaps for one reason or another. I'm not always sure these scanners I've developed, and they do have some fairly tight criteria for a stock to hit the scanner. and in doing that, I naturally will be filtering out some ideas that might be valid, but I'm trying to have a smaller list of good ideas and not get flooded with tons of stuff with a lot that's junky.

So when you start filtering in, you invariably do lose some of the good. A perfect example of this is the filtering that I do for maple syrup. So I've got my taps out with sugaring over the weekend, and when I boil down the sap into maple syrup, I'll filter it before it goes in the cans or in the glass jars. But by filtering it, you do lose some good syrup on the filter.

You know, I mean you could squeeze it out, but then you really, you end up losing some of the good. But you get, you get rid of the sediment stuff like that and that's important. So with scanning, you do sometimes lose some of the good and so sometimes someone will mention something and I'll pull it up and I'll say you know it's not on the scanner but it's not a bad idea. It looks good and I usually the first thing I would do is I would type it into the stock quote window and just check the metrics on it.

So what was this Cyrn? So I would say well, what's the float right? Because maybe someone's pulling out an idea. It's like a 200 million share float or something like that. So what's the float If the float's right, Because that's the one thing I don't see on the chart. I don't see the float.

Sometimes you can kind of guess what it might be on a more thickly traded stock, but but not always. And yeah, so for those tuning in on Youtube, thank you for tuning in. I hope you hit the thumbs up if you like the broadcast here. The the scanners are included as part of your Annual Warrior Pro membership, so you have access to the chat room, the simulator, mentor sessions Monday through Friday, and our scanners, which is really nice.

You also have access to the live trading archives, all the classes et cetera et cetera. so you could check out the, um, the syllabus over here. We've got this 15 chapter starter course and then we've got the 20 chapter pro course. So Trey Tc2000 does allow you to add float to your charts and I really like that a lot.

I think it's great that they do that E-signal does not have that as as far as I'm aware, I don't think they've added it. So yeah, some charts do show you float also and that does help you because then you can type something right away and see the float immediately. but not all have that. So Uh, Robert asks, why is it so easy for you to buy and sell pre-market I use Active Trader think or Swim and sometimes I cannot sell fast.

So the software that I use for my trading is light speed so that's the uh what? what you're seeing right here And no doubt this is pretty fast. So um, let's see I can switch here. This is my um, my main account so I can go to Zvzt. So if I want to buy this Nasdaq test stock so this is these are pretend test trades.

They're not going to count against my P L for the day so I can type in my shares 1500 shares price O2 But of course what I usually do pre-market is marketable limit order so if the ask is 1002 I might put the order at 10 12. I can buy this is a day order date and and that works pre-market which is nice. If I did a market day order then that probably wouldn't go through right now. Yeah, because it's after hours, but if I do a day order that'll go through right now and instantly instantly you're filled.

Now of course, you probably feel a little faster on a test stock than maybe a real stock and you don't really get slippage. But in any case, um, I can press shift one and add another fifteen hundred shares, shift four and add another four or five thousand. whatever that was, and control Z, sell the whole thing and just like that, I'm out. So this allows me to move in and out very quickly.

And I've said many times that I think that this is great software to use. But there's a downside. And the downside is that I pay a commission every time I take a trade. So unlike, uh, Td Ameritrade, they still charge commissions.

This is software used by a lot of, uh, professional traders, institutional traders prop firms use this software so it's it is reputable. Um, but it's it's used by people who are trading big money and they pay the commission and I still pay the commission. So that's that's the downside. Uh, and I'm not going to say that I think it's required to be a profitable trader to use the software because I don't.

Uh, we have right now, eight students in our community who applied for million dollar badges and verified that they've made over a million dollars in trading profits. So they have a million dollar badge next to their name when they're typing. and as always, those results are not typical. But of those, uh, let's see one, two, three, four, I, I think I know for a fact.

absolutely three of them are on Td Ameritrade, but and two others I think might be. So that could be as much as you know. Fifty percent of those students now. Uh, those traders.

Uh, obviously Td Ameritrade has a ton a ton of customers, so there's gonna be some on there that naturally are successful, and some of those might be part of our community, but they'll also have some on there that aren't successful. and nobody really knows how successful the average trader is because there's not a lot of information about that. We do have some disclaimers on the bottom of our website that you could check, which are studies indicating that the majority of day traders will not make money. but those are, uh, even those metrics.

Or those studies are somewhat limited in that one of them is on. Even though study of a over a billion trades 3.7 billion trades it's on a Taiwan Stock Exchange between 1992 and 2006., found that only 9.8 percent of trading volume was generated by predictably profitable traders, and that only three percent of all day traders uh, there were profitable. There's other articles in 2005 small case studies. I mean, these are just.

it's small. so we don't really know, but um, we've always heard is that the majority lose money, and I think that there's good reason to believe that. So Kevin, how do I flip through charts and ticker symbols so quickly? Some of that would probably be um, hand-eye coordination and typing, which might be, uh, some of the kind of natural. Um, I don't know.

I mean, we've sort of talked about aptitudes for trading, and being able to type quickly is probably helpful. Uh, you know, for a fast-moving market, flipping through different charts that's just typing and pressing enter. I mean, that's all it really is, you know, But that's I don't know, that's it's just that's what I do. I mean, I do it all day long when I'm trading the all trading day long and I've been doing it for a long time.

So you just get into a a bit of a rhythm. Um, typically Nasdaq for my, Uh, for my market, for my routing. Yeah, so one of the challenges I've tried using um, uh, I've tried using some of the more advanced routing if you want to call it that. Some of it I've found interesting.

They have dark pool routing. they have routing, different institutional routes and stuff like that, but you know those are the ones that seem to be more finicky. They sometimes go down at the sometimes you'll have a order lock up, you'll have a sell order and it's not filling and it's uh, clearly you know, Like on Zvzzt, a sell order at 9.95 and you're like it's 9.99 on the bid. Why is my order not going through and your order has gotten locked? It's just gotten lost, but you can't cancel it and you try to cancel it.

Nothing happens and then you've got to get on the phone and say hey, there's this order out here, it's pending and then they gotta check it. Five minutes goes by, Ten minutes goes by, they're like oh okay, we see it, It's clear now you can go ahead and sell. Well, you know my luck. Gamestop has just dropped 20 points in the meantime.

So I go with this the the old reliable Nasdaq for most of my routing and I find that it's uh, it's pretty good. So uh, Josh says there's everything on this channel other than how to scale the daily goal. So I do think that I have a video on scaling the daily goal. Um, but um, scaling your trading.

Let's see, I'm almost positive I do. I just have to find it for you. But in the meantime, um, let me give you kind of a little bit of my two cents on that. So as I was mentioning earlier, you know I, I'm setting my goal.

I initially set my goal this year: 2.5 million dollars. That's around 200 000 a month. And based on how I've been trading, how I traded through Uh 2021, I thought that that was probably realistic. So this is year and date.

Um, this was 2021. All right. So you know you can see these were 400 000 months 376, 500, 466, 333. So I thought, you know, 200 a month seems like setting the bar kind of low.

2.5 is a good goal. Uh, But then we came into January and although we had a good first two weeks, it got a little choppy. So right now I'm behind my goal and I'm thinking myself, well, I don't want to put undue pressure on myself that now I need to hit. Now, I need to make up what I've sort of fallen behind or what I've missed because that can.

On the one hand, it can. It can drive you, and sometimes that can be a good motivator to push a little harder and be a little more aggressive. On the other hand, it can lead you to take unnecessary risks that can cause unnecessary losses. So that's a challenge and I am not the best at finding the balance point on that because I tend to push myself too hard and then have those unnecessary losses.

And then I'm frustrated and I've got a setback. So I I would probably say in general that you could set your daily goal at whatever you want, but it doesn't mean you're gonna hit it. You could set your daily goal at ten thousand dollars, You could set it a hundred, You could set it a hundred thousand dollars. It doesn't mean you're going to hit it, and whether or not you hit it in to a large extent is going to be based on market conditions.

If you have proven you have skill, if you're trying to just sort of generally increase profits, the logical thing to do is slowly and consistently increase share size. just like if you're I would think like lifting weights or something. I don't know what your frequency is that you would add a little weight, but you know if you're lifting weights every single day or I don't know, three times a week or whatever and you're doing 25 pounds or 50 pounds or whatever, it makes sense. I mean, if you're trying to push yourself, you should probably be adding five pounds every.

I don't know, someone else, tell me. But that's the that's the idea. that you should be adding a little bit, adding a little bit, adding a little bit, and you know you start with a thousand shares. next thing, or a hundred, then you go to 200, then 300, 400, 500.

After you know, increasing by 100 shares a week. By 10 weeks, you're up to a thousand and then you keep doing that. For another 10 weeks you're up to 2000 shares. Another 10 weeks up to 3 000 shares, and you've just slowly increased your uh, your share size and you've been able to acclimate to the higher share size.

As you've been increasing it, you don't go from 100 to 3 000. overnight, you increase slowly. So I think from that perspective, scaling. That's sort of the most logical approach to scaling a strategy.

It's just slowly increasing share size. And and that's one of the things that I try to remind myself and others that if you can trade profitably, even with 100 share positions, 10 cents a day, that's only going to be. You know, 10 bucks. 10 bucks a day before commissions? Okay, it's not a lot of money, but can you scale that to a thousand shares over the course of 10 weeks? Because then you're making 100 a day over the next 10 weeks.

Can you scale to 2 000? Then you're at 200 a day? Maybe you can't but maybe you can. So that's what you have to focus on. trying to get something that works with small size and then start scaling scaling to the level of 5 000 a day. Starts to get into having the confidence to add to positions, not just get in with one entry and then get out, but start to scale in.

Add into breakouts aggressively by dips that starts to get more fluid and that's like flow state trading. and I think that that's a place that you do have to push yourself a little bit to get there, but you don't want to try to push yourself too hard too soon because you're just going to end up making mistakes. You have to feel comfortable with it. Um, at what point do I feel more comfortable trusting setups after a cold or weaker market? So during a cold market we may have like tomorrow, for instance or the next day we may have one.

Really great setup, really great stock, and I would probably expect we'll have, you know, a couple good, really good solid stocks. Each week they may not be as exciting as in a really hot market. We'll probably have a few each week that are that are decent. So if I see one that comes up and is trading pretty cleanly initially I have low expectations, but if the first pop as it starts to squeeze up holds well, adding back with smaller size on the second and then trading it a little bit more aggressively waiting then for a five minute setup and if it starts to really open up, just actively trading it.

But yeah, I'm initially going to be a little bit cautious. Um, until we've probably had you know, a few really good back-to-back days and then it'll be like, okay. Things are starting to heat up, or we have an individual stock that really is doing something impressive and that is starting the next round of momentum and I may not fully capitalize on that first one, because at the moment I won't know that it's not going to just be another false breakout. It'll really have to prove itself to me.

So it is a little challenging when things are slow because you when things start to pick up, you'll feel like you've left some money on the table. Um, so Mike, that would be having orders. um, hidden right here so you can have it. If you just leave that as zero, it'll just default to Hidden.

Yep, and then your order would not display on the level two. It would be a hidden order and you're allowed to do that And I think you could do that with Td Ameritrade, Although I can't I can't remember 100 so it's easier to cut losses when your share size is smaller. When your share size is big, it starts to get more emotional. You know you probably got some slippage on the entry.

You know you might get some slippage on the exit. You don't want to hit the bid until you're 100 sure it's not going to work because it's just not easy as easy to get right in and right back out. So a small size. when you know you can hit the bid and get out with almost no slippage, I'm much more inclined just to bail.

No emotion, Don't care. I'll let it go. It's when the size gets bigger that the emotions start to come and come in and become a factor. So this these last three or four days trading with smaller size has made it easier for me to just cut those losses and let them go In maybe the middle of January.

I had a couple that I trade with way too much size and held and averaged down and hoped it would turn around and didn't Got stubborn, didn't want to give up and then ended up getting smoked. You know, in a hot market that same trade might have ended up turning into a winner. You know you can sometimes learn bad habits in a hot market because you can hold through a really nasty pullback and the next thing you know, it's back at high a day and you're like, ah phew Okay, that was close, but that luck will run out and a cold market is not the time to be averaging down like that. Um, there's no reason to hide an order when you're buying my orders just by default.

You set your defaults for, uh, the the window and I set them by default as, um, let's see, visible automatic. I must have just set to set it at hidden initially here and I just leave it that way. That's really more for selling for selling on the ask if you're holding a 50 000 share position and you want to sell 25 000 shares if you, especially if it's a big stock like a Tesla, if you put a 25 000 share block order out, it's going to scare off market participants. They're going to say oh, there's a huge seller and then you've you've hurt yourself.

So you're allowed to not hurt yourself when you're trying to sell if you choose not to. And if you're trying to buy, if you're trying to accumulate a big position, you might not want to put that whole order on the bid. You might want to let it be a hidden order so people can go ahead and sell to you because otherwise you put a huge order for 200 000 shares on the bid. Well, someone's gonna put the order one cent in front of you so they allow you to hide your orders as you'd like.

Um, some traders do probably more experienced traders more than beginner traders, and that's also probably a platform limitation. But uh, it, it makes sense, especially if you're doing midpoint trades. Um, you know you're right. It may be a slow year for small caps, and that's fine.

I can certainly grind on 5000 thousand dollars a day. if I average five thousand a day. that's still a million dollar a year. And that's a great year.

I mean, at the end of the day it's not 2.5 it's not five, but it's a million bucks. and I'm okay with that. But here's the thing I suspect we'll have during the year: at least a few really, really good stocks, and I should have at least a few days where I break a hundred thousand dollars. So if I do that three days this year, Well, that's 300 000 right there.

That'd be 30 of a million dollar goal if I have. You know, 10 days where I do 50 000? That's 500 grand, you know? So I I suspect that we will have more. And and I mean this is total projection because I have no idea what's in store. Nobody knows, nobody knows what's coming for us.

This year, it might be a year where we really have to exercise discipline, keep our head down. Just you know. Hit those bass hits day after day. It's not going to be fireworks, it's not going to be exciting, but we just get in, get green if we can, and shut down, or we may have an amazing year with some of the best opportunities we've ever seen.

Or it could be anywhere in between. And my guess if it's going to be on the colder side would be more intermittent cold days and then hot days just sort of mix together. and so on days where it's hot, being able to step up to the plate is important. However, if hot means a stock goes from four dollars to eight bucks, but it's on light volume and it's just on a one minute chart and then it comes right down.

That's not going to be something I'm probably going to be able to make 100 grand on because I'll never feel confident taking you know 40, 50, 000 share position. and I probably even if I did wouldn't get enough of a move. I mean it just. I would get too much slippage on the entry, too much on the exit, so we would need the combination of big volatility with high relative volume and high total volume in order to take uh, pretty decent positions.

But um, you know I mean the the thing again there on the goal is you could set a goal and then the market will just do what it does and you could do the very best. You can trade as aggressively as you can, but you know if the market really is cold, you're going to be better off just trying to hit those base hits. Be consistent. aim for 70 accuracy or something like that.

Keep the losses smaller. Don't over trade. Don't overstay your welcome trade during the time when the volume is at least the highest. That way you can get in and out the easiest.

that would be generally pre-market and the first hour of the day. And don't overstay your welcome. And and I'm okay with that. You know, I'm also in a different place than other traders out there.

There's traders that don't. They're not in A, you know, I have a family, I have two kids and I, I want to be able to have a, uh, a lot of time for them. That's a important goal that I have in my life, and that that's a more important goal than the extra half million or million or even two million that I might make if I trade eight hours a day or ten hours a day. So that's a sacrifice, but it's one that I'm willing to make.

You know, my parents of course, made a lot of sacrifices raising me and my sister and took a lot of time off work and just were regular nine to five jobs they weren't, you know, doing the type of stuff that I'm doing. And then my dad stopped working when I was in elementary school and he was. You know, basically you know, a stay-at-home dad. if you want to say that or or unemployed.

you could say that as well. Uh, depends what kind of spin you want to put on it. but um, he was around a lot and I wanted to be able to have that for my kids. but I had kid.

I started having kids almost 10 years before my my dad did so. um, I'm still working, but I'm trying to prioritize a family and so you know. Anyways, it's just to say that you could in a cold market really try to grind and trade all day through the afternoon and you would catch some sporadic opportunities here and there and that's fine if you want to do that. I don't want to do that right now.

Uh, possibly in a hot market. I'd be willing to do that a little bit more because that's the time when it makes more sense. You know I'm not going to try to. You know I'm not.

It's just like catch the fish when they're biting. When you've got the opportunity, that's time to push hard. If it's not really happening, the um, squeeze isn't worth the juice if if you know what I mean. So when the market's hot, those are the times that it may be worth spending a little bit more time trading and knowing that.

well, maybe this will. I'll pay it forward and make enough money to take a month off of. You know, take my kids on a road trip in a Rv for a month, you know, somewhere down the road I don't know, you know what I mean and that I'd rather do that when the market's cold and uh, this would be maybe a good time to do that, But you never know when it's going to pick back up. And that's why I just keep coming in every day.

So let's see. Um, yeah, and I don't use any market orders, but I will use marketable limit orders. I do still have my offshore account. uh, that's with um, Cmeg.

I trade in it sporadically usually when I want to add live trading archives in chapter 16, which is the small account challenge. So I I do have that account. It's got like five thousand dollars in it, but I'm not really trading it on a daily basis. The gains in it are taxable, so I am not super inclined to trade in it too much.

The squeeze isn't worth the juice, just some more. I'm never good with those types of things. I don't know. You're probably right.

So uh, all right. Well, yeah, so that's I really just want to come on and uh, chat for a little bit. Four to five after hours doesn't seem like really too much is moving at the moment. S p 500 You know we've We've got some global uncertainty.

Um, but that's that's that's part of trading. So we'll see. We'll see how we get through this stretch here. We did dip below the 200, but then back above it overall market.

obviously. the big pullback in 2020 and then the rally which started in um, in April. The best month of my career was June of 2020. So to put context around that June 1st, let's see was right here and this was the 30th.

So really that was. that was the best month of my career And it's not like really anything that exciting was happening in the market. I mean it, you did have the first four days, was good, but then you had a pretty big sell-off there. back down to the 200, a little bit of a bounce and a little bit more sell-off So for the most part I mean we opened higher than we closed.

We were kind of in a range, but we were having a lot of gaps in the market. That's kind of the way it was, so I hope you guys have a great rest of the day. I'll be back at it first thing tomorrow morning. I hope some of you guys use that coupon code Valentine40 to save 40 on your year-long Warrior Pro Membership students.

If you'd like to upgrade your membership, you're welcome to do that. You can email us and we can get you set up and we'll if we don't get back to You immediately today. Don't worry, we'll we'll We've got you guys covered with our member loyalty program so we'll We'll make sure we take care of you and I'll see you guys all back here tomorrow morning. Hopefully we see some good opportunities and we can keep this week Keep this week going.

I'm I'm hoping to have a uh no Red February minus one day. So one red Feb and I'm uh, you know that's that means if I'm gonna set the goal of not having another red day this month, I you know, not that that really again matters if the market cools off or whatever. but it means on the first trade being a little bit cautious. If you go real big on that first trade, you can dig yourself such a big hole there's no chance of recovery.

And then that first trade going so deep in the red also is a big red flag. caution flag. You don't? You know you don't want to be seeing? So my wife's family. They know that I like cars, so they got me a Nascar jacket which I have to wear whenever they're around.

Uh, I'm not. I don't watch Nascar, but I do like cars. There's a pretty big difference anyways. So uh, in Nascar, you know you don't want to see the orange flag or whatever on the second lap.

You know it's like you want to get in the groove. And so if on your first trade or your second trade, you immediately go deep into the red. It sometimes it sets the tone and then it's hard to recover and so you just you have to be a little bit careful on your first couple trades and so that means testing the water, getting in, getting green, getting out, and you know, then that's it. So go back for more if you have a cushion today.

Uh, first trade was 1500 shares, almost 50 cents a share and I made like 700 bucks. So that was a good first trade and built my cushion and then from there I continued. So that goal of trying to be green means a little more conservative on the first trades. The thing is, in a hot market, I might go all in on the first trade because you know as soon as you sit down you're just seeing things go crazy and you're not getting opportunities.

If you don't jump quick, you're not getting opportunities. so you have to adjust that based on the market you're in and in that kind of hot market. I don't mind taking the risk of potentially going red because I know the market's so hot I can make it back really quickly. But um anyways, so that's it for me.

Um, and no Gmat Got nothing different. Um so uh. a marketable limit order. Uh, this is just a anyone can do this.

I don't have any special privilege. You put an order at 10 15. You press the buy button. where are you going to fill Right here at 1002, you're going to fill at the current price no higher than 10 15..

So I'll often say okay guys, I have an order at 10.50 ready to go. That's what that means. I can click that right now. If I want to, I can.

I can be clicking that as soon as it squeezes up. And then you know, take profit whenever I want. But that's what I do. I put it up it.

That is in contrast to using a market order. It's a marketable limit order. So it is a limit order. But it's marketable.

It goes through basically a market price. So yeah, Kscp, you know, says this one moving up a little bit and I'm glad to see it. Your high was 9 36 this morning. So on something like this, the order would be um, you know, up here at um, whatever, 90, 90, 905.

Something like that, right? So it's 903 905 and then if it breaks that level, I can get in either write it 90 as soon as I see 98.99 and then punch that button and I'll fill it. You know, 99, but not any higher than 903. So I'll say okay or next order is 9 15. I want to see it break 9, but then really break with some conviction.

So I mean there's there's a million ways you can do it, but that's the way I tend to do it. So it's the actually the daily resistance was 9 35. the high of day today was 9 36. So I mean it hit that daily resistance basically to the penny.

And then the next level was 9.53 So you do have a little bit of resistance lined up on this. and remember it's five o'clock It's getting late in the day, so you know this is not the best time to be taking a trade while there's a little bit of a break of nine. First pullback, second, pull back. It's a one minute pullback.

It's still late in the day to be taking this kind of trade. So again, hot market. I would do it. Cold market.

No, not for me. so that's it for me. I'll let you guys go. I hope you have a great rest of the day and I'll see you back here on um, tomorrow morning.

Tuesday Morning bright and early. All right See you then. Reminders always. Trading is risky.

My results are not typical so take it slow. You.