All right everyone. So we really do midday market recap here. Go over the trades from this morning another tough day we've been in. I mean I've been a bit of a rut here the last the last week and two days.

This being the seventh day of pretty difficult trading, just have not been seeing the continuation of the follow-through that we had at the beginning of the month. and what worked at the beginning of the month has not worked in the last couple weeks. And today's trade is another perfect example of it. In a hot market, this would have easily been a 3040 thousand dollar winning trade and the market that we're in right now.

it's trade where I went from up 10,000 on it I was up 10 grand. Unrealized to break even and then instead of you know, just walk away flat. I tried to recoup the 10 that I'd given up and went down 14. Actually, this is so similar to what I did two weeks ago and I can't think of the name of the stock off the top of my head, but it was a stock that squeezed up and I made about 10,000 on the ramp on the move up and then at the top I added back it gave back the 8 and then took another trade and dropped down about 11 or grand or so on the day.

Super super similar. It's you know, a little disappointing to see yourself make some of the same mistakes again and again. You know, I would say the hardest part about being a trader is no doubt the sort of emotional and behavioral components. the actual act of training, buying, pressing buy button, sell buttons.

That's all easy stuff. when the markets strong, anything you buy works when the markets not strong would. just you know. for us, for small cap traders the last two weeks, it's not been strong.

If you were trading at the long side, it can be really difficult to keep that presence of mind and slow down and and and not continue to be as aggressive as you were or would be in a strong market. So let's see. So basically this morning I had nothing on the watchlist I had no expectations of any of the Gabor's working out at all xB IO wasn't even on my watch list I wasn't even looking at it. but the bell rings and right here at about 9:30 for it spikes up to 10 72 It hit one of my scanners and I was like whoa, okay that's that's crazy I Noticed at the moment after the spike spreads were huge it died down back to about $8 and this is what I was watching the first 5-minute candle making new high I just sort of had that spot of 1072 in my mind that you know if it came back up it might break that level and so I was watching it and right here you can see.

volume came in and it got halted I Jumped in at about 928 for the first 5-minute candle to make a new high while the entry would have been at 9:00 and I chased the entry and then I added at 981 going into the halt. So at this point I have were just like 955 or something like that going into the hall it resumes. it squeezes up to a high of 11 77 and I doubled my position as it squeezed up. So I'm adding.

So now my new cost basis is like 10 Ten fifty or something. We went from 950 to 1050 and of course at that time I could have just sold and taken my profit in that spike. I mean this was already a win, but I was looking at this on the daily chart and I saw this gap from 1188 right here all the way up to 13 80. And so I thought that if this thing broke 1188, we would have no resistance until 13 80 and this might be the one that goes parabolic.

and so instead of taking the base hit when I had it I started to, you know set my sights on a potential grand slam. You know it's like the bases are loaded and it's that moment where you could just you know get a base head and and try to you know get a runner to come in and instead you try to be a hero. You try to go for the big trade and no doubt you know if this has gotten up to 13 it would have been a thirty forty thousand dollar winner. Absolutely it hit a high Of the high was 12:30 and I actually added I added more at 12:20 and 12:30 at the almost at the high of day I did that because I thought it was gonna go into a third Hall we had first Hall second Hall and I thought this was gonna be a stock that would give us a third Hall It's a recent reverse split.

the floats about a million shares. It's a former honor with a history of making big moves and with this daily chart there's beaten up char as it starts to curl. Yesterday was Green to that Friday was Green today big green. It just to me looked like the type that could make a big move and honestly I think in a hot market this probably would have squeezed up to thirteen eighty.

We probably would have gotten that move, but in the market that we're in right now, traders have been a little more cautious, short sellers have been a little more aggressive and what happened was this resumed from the halt. it squeezed up for a second. it then hesitated and started to roll over and I hit this and control X Control X I was like get out and I was able to get partial fills right up here. locked up some profit, it drops down, gets halted going down I'm still holding a partial position through the halt going down.

it resumes and is now trading right in this area. It drops too low of 937. I don't like to panic out while stocks are selling so I was like I'll give this a second to bounce back up and it bounces back up here to 1036 and then right here. It actually looks like it's to me potentially gonna make a move back up towards 11.

So this is where I decided. You know this is that moment of truth where I could have either just bailed on my position or add back to it and for whatever reason at that moment and this is sort of the blessing and the curse of I Think the way: I trade I can have such tunnel vision that I can usually be really good on my hotkeys. Really pretty good reading level to time & Sales trading on the 1 minute 5 minute chart I'll be in the zone, but when I'm so in the zone sometimes I sort of lose focus of the fact that hey Ross you know you've been read five out of the last. you know, seven days or whatever the case was, this might not be the time to be really aggressive.

You should have taken your base hit and you should not be adding back to this. but as its consolidating here, this to me was kind of similar to what it did right here. and so I thought okay, if it holds up right here and it was, we might grind back up towards eleven. and if we break eleven and move up to eleven fifty twelve, this might go back to high a day just the way it did in this pattern.

So you know this is where I got a little aggressive too aggressive and I decided I was like all right I'm gonna add back to this thing. got a high here of eleven of 10:57 it drops, it goes sideways, that didn't break and so then I'm kind of holding and I'm a little bit not sure about it and right here drops to nine Seven five as soon as it drops in 1975. I was like alright I gotta bail this doesn't look good so I tried to sell I filled maybe 200 shares of my order, didn't fill my order, did not fill, it dropped to fast and then here flushes down to nine twelve I'm like I try to sell again I'm getting partial fills on my sell order. the spreads are big, it's I'm just not having an easy time getting out and then here it drops down to 850 to my lowest exit was 870.

So you know this was the high a day volume on that candle and it just was really disappointing. So you know I went from being up 10 grand down 14 on the stock. so $24,000 swing in the PNL it's you know it's disappointing and I think the hardest part about it is the fact that this setup would have worked really well had we been in a hot market. and sometimes it's hard to predict when the market will change what will be the first stock.

Had this gone to 13 and then maybe to 14 or 15, this would have been the first stock to sort of maybe start a new round of momentum, but being able to time your trades so that you're hitting the first stock as a new round of momentum starts with big size, it's very difficult, bordering on just not possible. And if you keep doing it you know as as I have been for the last week or so you're gonna keep incurring big losses. You know it's like you just keep swinging and missing and swinging and missing and you know I've just been basically giving back profits I had an amazing start to the month of June making 50 grand and the first week and a half you know terrific start and then I've proceeded to you know have a red day. Big red day last Monday read on Tuesday and Wednesday small green days on Thursday and Friday small green day no small red day yesterday and then a big red day today.

So I've given back about I would say right around 32,000 dollars of of that profit which you know is totally disappointing. So you know I went from being up 50 on the month to being up I don't know somewhere between 15 and 20. I'll have to log in and see where I'm at tomorrow or sometime later in the month. Maybe not a good idea to log in tomorrow and then see it and feel FOMO But I think the challenge for me and you know I There's definitely people that have said hey, Ross clearly you don't know how to manage risk and you know to that I would say I'm trading the same exact strategy that I use to turn $583 into 1.1 million dollars over the course of about two years.

the strategy works. A feature of the strategy is that there will be some big swings in the P&L from time to time and that's because I'm taking a fair amount of risk. This trade, had it worked well, would have been a thirty forty thousand dollar winner. So to risk 14,000 to make thirty thousand, here's a two to one profit loss ratio.

If we look at the detailed and then I'll go down to a win/loss expectation you'll see here. Whoops, You'll see here this: This is my equity curve now on a day like you know today. I'm kind of. you know down in this area here.

a a little bit of pull back. This right here was a $50,000 drawdown. $47,000 You can see it right here. Doesn't look like much on the equity curve, but that was forty six.

Forty seven thousand dollars in losses from right there - right there. That little that little pullback. So you know in the grand scheme of things, these draw downs are not statistically significant and in fact, this was a 5% drawdown. At the time, the account was near million dollars of profit.

the biggest drawdown being five percent. during a time when the account grew by about a hundred and eighty three thousand percent. You know I mean it's it's really not that bad. but I'm saying that to try to make myself feel better because on those days like there and you know, like what I'm having right up here, it can feel devastating.

You know, can just feel like ma'am Everything I'm doing is going wrong. Everything I buy the second I buy. it is just you know, tanking or the trade that I think is gonna be a homerun and I'm being aggressive on total fail and that you know when we're in such a hyper, hyper focused sort of mindset of daily profits and weekly profits, you know, monthly profits. An individual day that sets you back two weeks is feels really kind of emotionally devastating.

It took me about six weeks to recover from that drawdown right there. and of course I recovered. Well, the low of that pullback was somewhere around 1:00 Well, this is gross. I'll go switch this to net.

So the low from 992 down to 944. Oh yeah, so after commissions 47,000 right? So that makes sense. So you know from 944, I've grown the account up to you know, one point, Zero, seven, six right there. And that was before the fifty thousand dollars of profit this month.

So you know about a solid hundred and sixty thousand dollars or so from the last red streak. So the last hop basically this hot streak was about one hundred and seventy thousand dollars of profit. And now I've been on a red streak here where I'm down about 30 grand. So it's kind of like, you know if each step is thirty thousand dollars.

that's you know, like whatever. Five steps up, one step back. Okay, it's part of the deal. time to get ready for five more steps up.

But the problem of course is that you just don't know when the markets going to turn. and I've had periods where you know I went through four or five months of fairly slow trade and during periods like that you can't swing for the fences because you're not gonna hit home runs, you're just gonna get strikeouts. But really, since 2017, since November 2017, I've been on a pretty long and extended and sustained hot streak. Generally, you know, with an exception of you know, a couple pull backs here and there.

So I think for me: I wish I was better at adapting to cold markets and slowing down faster. And you know, taking my foot off the gas I have a bit of a hard time doing that I keep being aggressive even when the market conditions are saying. You know, go slow and sit on the sidelines and you know if I was better at sitting sitting on the sidelines, then during these periods of slow trading instead of losing 15, 20, or 30,000 or more, I would hopefully just kind of be breakeven for a period and then I would you know things would pick back up? So in terms of how to, you know for me, how to learn from these losses. it's really good.

Tough one. I'm not sure what what I need to do in my trading to prevent myself from getting tunnel vision when I see what I think is an equality opportunity? How to remind myself that Ross that's not equality. When the market for the last week and a half has been terrible, it means anything that you think is a quality is automatically A B It's just because part of the rating system ranking for an equality stock is the overall market. You can't forget about that so you know and yet I do And that's the the one spot where you know sometimes say okay today my Mac share size is you know, six thousand shares or whatever and then I'll see something like this which I'm like whoa, this has huge potential I which of course it did in with six thousand shares, you know maybe I would have done better if I hadn't been more aggressive down here or whatever.

But then in the moment I'll say oh, I'm gonna go ahead and increase my share size this this is a great opportunity. So maybe for me, like even as I am about to say it, I'm like making an exception to the rule but I was about to say is that maybe what I should do is at the beginning of each day say today my max share size is six thousand shares and that's because of the performance in the market that we've seen over the last couple weeks for instance. So tomorrow my max share size is six thousand shares. and then what happens tomorrow if we end up seeing a stock like this go from eight to nine, to ten, to thirteen, to fourteen to fifteen dollars and and what if it does its first pullback and then it goes up to 17 to 18 to 20, you know what point is it like whoa, Okay, today is the day that we're having that stock that's going parabolic and if I don't increase my share sighs I'm not gonna fully capitalize on it, you know and that I think that's really speaks to the struggle of of FOMO the fear of missing out that if I restrict myself that they'll miss opportunities.

Therefore, you know I I should be at a level where I don't apply any restrictions I'm able to simply, you know, be so present in the moment that I can quickly go from 3,000 share position to 25,000 share position if the market justifies it and then just as quickly come back down. But in practice, I'm not good at making that adjustment. So you know, for the duration of my trip here, in terms of trading, you know feels like I've kind of ruined the vacation. put a little bit of a shadow over it.

It's gonna be impossible not to be thinking about this for the rest of the time that I'm here, you know. And so that's what I've got to deal with just the fact that this is where I'm at right now. This isn't what I wanted for the end of June I want to finish the month strong, go into July feeling great and I screwed it up and it is 100% my own fault. Other people were green on this trade, other people who were calling it out in the chat room who got in down here and sold up here or sold right here, made money and I was swinging for the fences and you know, took a big loss.

So I guess that's you know, and the biggest struggles a trader is that mental hurdle. Even after doing this for years and years, it still gets me that I'll find myself being aggressive at the wrong times. You know, conservative at the wrong times and not not across the board. You know I mean obviously I'm giving myself a little bit a hard time here, but you know I'm green obviously green on the on the month.

despite this green on the year by wall right now probably about $250,000 But if I could tighten this up I could do so much better and I know I can do better. And I think that that's the part that nags you that you know last year I made about $700,000 and then I had $200,000 in red days. So I finished up only 500 grand. Wouldn't it be nice if I could have cut those red days in half? reduce some of those losses by not doing emotionally impulsive, super aggressive.

You know stupid stuff like this and that's you know. And that's what I want to work on is as a trader being able to be so present in the market that when the market is hot I can be aggressive and when it's cold I know to slow down and take take profit sooner. Something that is very confusing in the market is that sometimes you get rewarded for breaking your rules adding into this after the second haul here, adding right up here. You know that's a pretty aggressive thing to do, but you know, let's look back at RBZ for one second and you know an example where on this stock I followed this stock I followed my rules and didn't chase it for some reasons.

Charts loading really slowly here and ended up halting like five times in a row going up. It was good. This must have been right up in here or something you know, so followed my rules, wasn't aggressive on it, missed. You know what was probably one of the biggest opportunities that we've seen this year? It wasn't there, was it? Well, whatever.

I'm not gonna be able to find it off the top my head. These charts are loading too slowly. but in any case, there was a day where it halted, going up like five times the room and just went totally straight up. and if you had broken your rules and chased it, you would have made money.

and then there days like you know, a day in that case where I followed my rules and I kind of felt like I got punished for it because the stock goes up so much and I didn't chase it, didn't make any money. So these mixed messages from the market getting rewarded for breaking rules, getting punished for following rules, and then the fact that doing the exact same trade will have completely different outcomes depending on what's going on in the overall market. So you know that just adds this whole extra layer which if you're trading by yourself, is just gonna be overwhelming. The biggest benefit of trading with the community is that you get a sense of what's happening in the market.

what other people are doing, what they're looking at, If they're green, if they're red, what's working, what's not working and you know that that kind of helps you combat that. that struggle between you know when to be aggressive and when not to and but then at the end of the day, you've got to be the one that says all right you know, I'm gonna I'm gonna fall I'm gonna stick with my guns and follow my rules here. this isn't the time to be aggressive, you know, or do like what I do and kind of just like swing for the fences on like every trade regardless of market conditions and either sometimes hit huge homeruns or sometimes have huge losses. and since I'm right 75 percent of the time I make money doing it.

But the emotional extremes of you know the big ups, the 40, 30, $40,000 Green Day's and then the big downs is just like they're really nice to level that out a little bit. Well actually would be really nice to keep the Big Green Day's and minimize just the red days, but that may be asking for something that's just not possible in this career. So anyways, that's it for me. Long recap, but hopefully helpful for those of you guys who are in similar positions.

The biggest struggle now is that tomorrow and you know the rest of the week and whatever I'm just gonna have this instinct that I'll have to fight to be aggressive. being down 30 grand and in a week is you know it's not a good feeling and the best way to alleviate that discomfort is to make thirty thousand dollars right. And that may have been a contributing factor to why I was as aggressive on this as I was because I was already coming in to the day down like 18,000 over the last week and so instead of just taking my profit, it was like well, I've got a hole I really want to get out of it. just would love to just start this vacation off with a huge win.

big confidence boost. you know be on the top and this wasn't the day to do it. You know that doesn't matter. The market doesn't care that I'm on vacation.

The market doesn't care that my Internet's not that great right now. Market doesn't care, You know, And you got trade to market that's in front of you. You go out there to go, you know, surfing or something like that. It doesn't matter if you want to hit big waves.

if they're not there, they're not there. It's you know, easy when you're looking to the waves in that sense to say alright, well there's nothing gonna' things gonna happen today, but we're trading because things are always moving and because you may see a setup it's easy to pull the trigger. But what we lack is the resolution in the follow-through and that's where it can get really frustrating. So anyways, that's it for me.

I'm gonna wrap it up and I will see you guys first thing tomorrow morning 9:15 I'm having a trouble live streaming on YouTube this week because of my internet so I may or may not be live-streaming than YouTube But I will certainly do the recap and those you on YouTube Encourage you guys to join Chatroom. Alright, see you guys later. 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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