What's up everyone? All right? Well, sorry to report a second red day. Recap: Two red days in a row. You know, I always feel like my performance each day somehow defines me. You know, if I'm green on the day? All of a sudden I feel so good about myself.

I feel like I've done my job. I did exactly what I was supposed to. I made some money. I feel great about myself.

I feel great about life. I have a red day and I feel terrible. I can't help that feeling that each individual day somehow has the ability to change. Like the definition I have.

Like how I define myself as either being a success or a failure. Um, I. I think about it from a sports perspective of how good you feel. Um, winning a match and I'm competitive.

So you know whatever sport it is that I play in high school or you know, whatever I or just you know, casually with you know, friends or something. I always have that competition inside me. I want to win. and losing.

It feels terrible. So this is really hard to have that personality trait when you're a trader because part of trading is losing. We know that. I mean, that's a fact.

Even the best traders are going to lose probably 30 of the time and be right 70 times. That would be fantastic. My metrics aren't even that good. I'm more like a 66 67 right now.

and that's over thousands and thousands of trades. Over 10 000 trades. So uh, you know, looking at the metrics of my red days, uh, something that obviously I noticed yesterday was how the losses on my red days are four times as big as the losses on my green days. You know, I just.

I end up taking these huge loss and it starts getting really emotionally fueled. And today I got really emotionally fueled. You know, I started green and then uh, I went, I went red and I then actually got back to green. but then I went.

It's a deeper red. I just started going deeper and deeper and deeper. and it felt that the stakes as I started going deeper red became higher and higher and higher to try to have this Hail Mary pass finish the day green and feel like a hero. And then the odds started getting lower and lower and lower that that was going to happen.

And when I broke 20 000 and was below max loss, that was my last trade and I was done for the day. Of course in that last trade I went from down 16 to down 27. I lost 11 000 on the last trade. It was again one of those kind of hail Mary home runs and my trading today just was not dialed in.

It's really disappointing when that happens. you know I I could. I think that one challenge that I am definitely having is trying to trade into accounts at the same time. And you know the reason I'm doing that.

I'm doing the small account challenge. But then if I miss a trade in the small account, if I take a trade in small account and then miss it in the big account, missing it feels like a loss. Even if I'm zero, it feels as bad as losing because that same trade that I might have made 500 on in a small account, I could have made 5 000 under 10 000 on in the big account trading with bigger size and so I struggle with that. And today I tried to trade both accounts at the same time, which I did last week as well, much more successfully.

But today was a day where you know I would give in the small account and then it would go higher and then I'm getting in too high in the big account and then it pulls back and I stop out and then I get back in and then you know it. Just it just felt like I was constantly just a little off and the stock that I lost the most on was Tcat. You know it went up like 50 while I was trading it and I managed to just have terrible entries. If I had just been a little bit more dialed in on buying the dips until you graft into the squeezes instead of sizing up as big as I did too high and then getting caught.

you know if I trade just a little differently it would have been probably the difference between being down 23 000 and being up 10 to 20 000. Really, it's just like a small adjustment, but can make a huge difference. So as I look to the week ahead now, I'm in a place where I was up like a hundred and I don't know. Thirty five thousand 000 over 10 days of trading.

and now yesterday I lost 40. today I'm down 27. So I've given back 67 thousand dollars. I've given back half.

So 10 days of progress gone into trading days and now I'm thinking about what I have left on the month: 35 38 thousand dollars in profit is what I have left on the month from Up 109. As a Friday. now, I'm up less than 40.. So I'm getting a little nervous and I don't want to go right on the month again like I did at the beginning of the month.

And I'm thinking that maybe I'm wondering if I should just put the small, the big account on the shelf and focus just on the small account for a couple days. I mean, I clearly feel like I need to reset a little bit after two big Red days. I don't know that I would be able to trade the large account. really calm, cool, and collected tomorrow.

After two big Red days, I think that if I was going to, I would have to do it with smaller size to avoid having a third Big Red day. And so perhaps it makes more sense just to instead focus on the small count for a couple days and just kind of let the big account be what it is and let a couple small days of small count days go by of resetting and coming back down. Now of course, if we end up having a huge move tomorrow that could end up fueling even more fomo because I will have missed it entirely in the big account. You know the first two days of the week here haven't been great, then let's say tomorrow we have a great day.

but then I I don't do well that could then spiral out and all of this comes back to emotions, the emotions of a traitor, the mindset. And it's one of the hardest things about trading. because you always run into these walls and you have these setbacks and then you have to get through them and each one feels a little different. They feel similar, but they feel also a little different.

They all have their own nuance of the conditions that led to this scenario. This place I'm in right here today. and part of doing this recap. Doing these recaps.

I've been doing every day since 2017. 17, 18, 19, 20, 21 Five years of daily recaps. Uh, they're not always fun, They're not always pretty, they're not always. You know something I feel really good about, but I do them each day.

I hope they help you. As a reminder, my results are not typical the profit I've made in this time. It's not typical. My experience training is not typical.

The typical result is that traders lose money and they feel the way I feel right now every single day. They just keep coming in and losing and losing. and losing. So with the assumption that you'll lose in your mind, you should practice in a simulator before you put real money on the line.

Today I'll do a short recap of the stocks I traded. It's not very. I mean, I don't think it's very exciting from a trade perspective. My entries were too high.

I stopped out on dips and then um, I did the exact opposite of how I would trade on a good day where I'd buy dips and sell into breakouts or maybe add smaller size for the breakout. It just today was backwards and the result was. I went negative and so anyways drew the line of sand once I cross max loss. No more trades.

That's it. I'll be back tomorrow. Probably focusing on the small account for a couple days, but I'll let the market tell me. you know what's right.

If I come in tomorrow and the Gap scanner looks terrible the way it did yesterday and today, I probably won't trade in a big account. I probably shouldn't have traded in the bank account yesterday and today if I had been only focusing on the big count, maybe I would have traded better, but I just didn't trade well, so I don't know. But in any case, I'm gonna let the Gap scanner tell me tomorrow which account to focus on. I'm gonna try to focus on just one and not trying to divide my focus by trading two accounts at the same time, because that's you know, in a hot market.

And like last week, it was fine. But right now, when the market's challenging me a little bit more, I need to be a little bit more nimble, a little quicker. And so I've got to make some adjustments. So that's the game plan.

That's what always is about making adjustments, fine tuning, trading, and a strategy is not static. It's not always exactly the same. You have to be able to adjust to market conditions, and that's something that's very hard for beginner traders to understand. why.

Why did this set up which looks exactly the same as this one? These are exactly the same. Why did this one work In this one failed? Was there anything that could have given me some insight? uh, or some sort of predictive idea that this one would be more likely to work and this would be more likely to fail. And and that's there are certain things that will. And overall, market conditions is a factor, and there's others as well.

And there's also just the fact of, well. not every trade works. but if you can start to get dialed in on how to adjust the strategy each day to accommodate these underlying conditions in the market, it will allow you to become a lot more successful. But it's hard.

It's hard for me to be able to sort of have the that fine touch on the throttle, be able to ease off and then back on in a smooth way, in a way that really is successful for the trading account and not, uh, counterproductive. So anyways, enjoy the recap as always. please hit the thumbs up and I will see you back at it first thing tomorrow, maybe only for the small account recap. Tomorrow we'll see, we'll see what the market gives us.

All right? All right. So second grade day in a row was up 6 800 on my first trade on Rgc, lost 11 000 on the second trade on Sprt, and then lost 23 000 on Tcat. stock's up 50 and I'm the guy who's read on it. Yeah, it's a tough day.

It's not fun I would say for sure. You know being up 7 000 on that first trade I was like all right man. that's great. You know.

First trade you got green, you have 7 000. That's that's fantastic. You know you had a red day yesterday. You're green.

This is perfect. Just good. And then when I got into Sprt, uh I, I just didn't expect it to fail so dramatically and I thought that we were going to get for sure on this pullback right here. a retest of uh of 13..

I was like this daily chart. it's opening up. It's moving quickly so you know I bought 25 000 shares and then lost 50 cents on it. So you know that was a bummer.

And just like that, it ruined my morning. You know I went from green on the day to down three thousand and then when Tcat came along. uh you know I was green on in the small account, but in the big account I kept screwing up my entries. My last entry was at 866 right here with 35 000 shares.

Stopped out because it broke down right here. My entry before that was with 20 000 shares, right here at 805.. my entry before that was, uh, I don't remember. It was yeah, actually it was right here.

It was. Um, it was like seven. The high here was 763. It was like 763 and it broke, but then it couldn't hold and it came back down.

So I don't know. Man, it's um, it's a bummer for sure. So that's gonna put me up only 50 000 on the month now. Uh, so I've given back.

Let's see, I'm up 65 000 on the month as it sits right now and now. So what I'm talking about. So I'm going to be up only like 30 000 on 35 36 000 on the month. Look at this thing.

I just took a I just took a legit ten thousand dollar loss on it. and look at it. You know that sucks. That's super super super frustrating.

Then the Fomo kicks in. You say, you know what? Screw it. I'm back in and that's what I've just kept doing. and I've done it like three times today so I don't know.

Some days, uh, trading is is harder than others and today I just could not stay green. And once I started going red, I could not get back to green and I tried. I tried hard. it's quarter of 11.

and I I gotta throw in the towel. I gotta give up. I'm down too much. I'm below my max loss which is twenty thousand.

So right now I have an 88 chance if I keep trading of increasing the loss on the day by 50. So unless I want to be down 50 000, I should just walk away right here. And the fact is, I'll link to trade another day. Um, it's not fun having these big red days like obviously.

Uh, on the other hand, it is important to have perspective. Um, you know. And so the perspective and the big pictures is always critical because that's always there. You know? Is it true that I'm down 27 000 today and was down 40 grand yesterday at 67 000 in two days? Yeah, that's true.

Um, it's also true that despite that, you know, despite these last two red days on the month, I'm still up. You know, 35 000. All right. So you know.

Here's the thing. I kind of don't think I should trade my big account for the rest of the month. I hate saying that, but it's better to finish the month up 35 grand and to go red and just spend the rest of the month trading in a small account, small accounts, green on the month. so I might just put the big account on the shelf here for the rest of the week.

I don't know, I I'm just not trading it very well right now and it's important for me to preserve what I have and not, uh, it's part of risk management. Not let it go against me, so it's something for me to think about. I don't know, I'm not really sure, but uh, definitely a disappointing two-day uh red streak here. So you know I turned a one-day loss into a two-day red streak and that's a bummer.

But you know, again, big picture on the year. You know life is good. 2.3 million dollars. So it just so happens that this last, um, well, the last two weeks of July I began this pretty serious red streak.

These last two weeks were really bad for me. and then I had two good weeks. uh, here in August. But now I've given back about, you know, almost half of the profit I made in just two days.

That's not fun, you know. So it's like 10 days of progress and then two huge red days if you look at that on sort of a cap on a on a chart. Well, it's kind of hard to see here, but we go back to like seven. So July.

you know, you can see, like I've obviously had some nice big green days for sure. But then you know those those big red days are just brutal. So I'm not able to break through the high right now and I'm now on another draw down back down to this sort of area. So you know, as always, it's a reminder with trading.

Easy come easy go. Uh, there's no I. I don't know of another job where I could make or lose this much money this fast. You know I what's another job where I could average? um, you know, whatever it is.

Uh, twenty thousand dollars a day this this year? Um, and on my biggest day, make five hundred grand and on my worst day, lose 240. you know these are huge numbers. This is huge numbers and at the end of the day the number is green. and that's what's important.

The big number. The net profit is green. So that's always what's important. And it's green here in August as well.

Now thirty thousand dollars. My goal was a hundred grand and I hit my goal and then in two days you know, gave it all back. Well, not all of it, but gave a lot of it back. So two thirds of it, so you know.

and it's especially disappointing to have it happen. Um, you know today on the stock T Cat to have such a such big losses on it. While it you know has continued to go higher, it's a feeling that I would have done better if I had just held the position. You know from right here I'd be up a dollar a share.

I'd be green on the day. Well, that's not really a good strategy to hold through a big draw down. but in this case or and it would have been a good strategy to hold the 35 000 share position right here. Through this pullback down to 818, I had to cut the loss.

but if I had held it, I could have walked away. Green. That sends a confusing message and that that's a big challenge with trade that you get these, um, sort of. I don't know.

It's um, you get positive feedback for sort of breaking rules and I don't know. So I'm bummed for sure. No, no doubt about it, I'm bummed out. I'm not happy about this.

I don't like, I don't like losing. Nobody does. Um, in training nobody likes to lose. When I win, I win big.

When I lose, I lose. big. And so the emotions are high. They come on the losing side and so I'm I'm emotionally triggered.

I'm fueled. I'm frustrated. I'm angry. All of the feelings that anyone else would have.

The number is just the number. You know. it could be down 2700. You could feel the exact same way I feel.

You can be down 270 bucks and feel the exact same way I feel. Or you can be down 270 000 and feel the exact same way I feel. The number is, you know that's that's relative And some people would say, man, you know this guy's such a whiner. He's such a complainer.

He's up. He's still at 35 000 on the month. That's more than I'm going to make this month. Maybe that's more than I make an entire year.

It's all relative. So I'm frustrated. I'm disappointed. This is not a good.

uh. two days last two days. my accuracy yesterday I think was exactly zero percent zero percent on my winners. which is embarrassing.

Today was you know I mean I had some. I did well in the small account today which is good. um and I had you know there's one good trade earlier on um, Rgc which was good but sprt just totally failed and Tcat I just kept chasing. You know what? So that's that chasing the momentum.

That's a it's a real tough one because so many of us fall into that and in a hot market, chasing the momentum can work so well because things just keep squeezing just. we kept getting these topping tails on. This one kept coming up to a hot level and pulling back. It just didn't halt.

And and I don't know why I didn't really get dialed into buying dips on it. Um, maybe it was the topping tails and those reversals that just made me think, oh, it's it's not going to hold up the fact that there wasn't a very clear catalyst on it. I just thought this was just going to kind of squeeze and then that was it. So I don't know, but you know it is what it is.

You guys have seen the Red Day recaps. You know there's so many of them. This is. this is nothing.

nothing new. There's no trader in the world that doesn't have red days, and I don't think there's anyone that doesn't get upset about the red days. It's just part of trading. But it's It's a part that unfortunately I don't think you get used to.

and given how long I've been doing it, I mean, while I can pretty pretty easily brush off you know, the twenty thousand dollar loss? like yeah, you know it is what it is at the end of the day. It's not going to change anything really. You know it's not going to change my ability to pay bills or anything like that. It's just.

it's just. it's just disappointing so I can brush it off. But um, it's in the moment. Just that that feeling of being wrong.

that feeling of that frustration that that is an emotion that I really, I really don't like it. Probably nobody does. I don't like feeling that way. I don't like feeling super angry.

You know. I got triggered here when I stopped out at, you know, 790 for a 5 000 loss, 6 000 loss. Whatever it was. and then two minutes later it rips up to here and I was like god damn and I just say, you know what.

Screw it, I'm all in. I'm going all in about 35 000 shares went all in, you know, and um, hit 885 and then pulled back. stopped out. No.

then it goes again. Yeah, that's a kick in the face kicking the teeth. The market will do that to you though. So if you're the type of person that can't handle that risk, this is the wrong place to be Because losses happen.

You keep getting kicked in the teeth, you keep getting back on your feet, and you know if you've got, if you've been practicing a simulator. If you've been trading with real money, then you know you know that you'll make it back. And it's always important to be able to draw the lines somewhere. So another trader someone else might have just kept doing this might have gone right back in right here.

and then maybe they're back in here. I always draw the line. Sometimes I don't stop as soon as I should, but I draw the line. That's important.

A certain point. You just have to say, let's see writing's on the wall. Some people aren't able to do it and um, you know you hear about those stories of people that just go. you know, all out and in one day they just the account is gone, they just keep going.

and the whole motivator there is, um, well I'm already down this much. My day is already so so bad. If I keep trading, there's hope so. right now, statistically I have a 12 percent chance of finishing the day green, 12 or an 88 chance of doubling my loss.

Just about increasing it by 50 and some would say well, I'm already red so I guess I could be. I could. I could handle being now 50 grand. What's the difference between being down 27 being down 50? Both both suck.

so maybe I'll just go for the the 12 chance that I'll get back in this here at 8 15 with 35 000 shares and it rips up to 915 and I can sell for a dollar a share profit be up 6 000 on the day. Redemption? You know that's that's obviously a very, um, dangerous thought process because then it could also go down to 750. and then you're You know you're down 50 and then You say, well, I'm already down 50. what's the difference between being down 50 and being down 100 and just keep going? So the the big thing that I've got on my mind is the fact that I've given back more than um, at this point, I hit my monthly goal and I've given back more than half of it.

That's a problem. That's a problem. And it happened quick. So now I've got to really think about, do I just you know, throw in the towel there and say, hey, I'm up 30 000 on the month.

It's August is what it is. Not a great month, but you know that's life. Try again, try again next month. It's probably the right thing to do and probably trade the rest of the month for me my small account.

Which in other words, if I didn't have a small account, I would make this a small account. I would take money out and say, all right, I'm not going to allow myself to trade a big size because I've proven I can't do it well Right now. I'm going to call Lightspeed and tell them to set my Mac share size to a thousand shares, and if I lose with a thousand shares, even for the next 10 days of the month, I'll still probably finish the month green. I'm not going to lose thirty five thousand dollars on a thousand share positions, so at least not on stocks of this price range.

So whether it's reducing share size or whatever it is, and then you know after a little bit of period of time, the benefit is that in five days and seven days, I'm going to have emotionally been able to reset. And this is the thing I talked about yesterday. So right now I'm gonna be at. you know, whatever it is.

Um, Forty thousand, Thirty Eight thousand dollars on the month. So the last time I was at that level was right here. But when I was up at forty one thousand, I had just come from down Thirty Four I was. I was up.

Seventy thousand dollars. In like 10 days I was feeling great. I was feeling really strong. I was in the zone So emotionally, even though I'm at the same number, I was a different person here because of the strength that I had behind me.

Than I am here on the back side of this sort of momentum, so you always sort of have to keep that in mind. Anyways, that's it for me. It's a red day. recap.

Two in a row. the winners are back to back. the losers are back to back. Last week I had two fantastic green days, and on these two days, I gave back that profit 31, 000, 32 000..

So the profit I made last week, I just gave it back in two days. Pretty much. that's not a reminder of how risky trading can be. I don't know what it is.

I don't think that any one of you are trading without understanding the risk, but in case you are, trading, is risky. Easy come easy go. And my results are not typical. You know I'm focusing on the loss here because of course it's a red day recap.

But uh, being able to lose twenty seven thousand dollars and still be bringing on the month, being able to lose sixty 000 in two days and still be up two and a half million on the month? Those results are not typical. The typical experience is losing money, so I'll leave you guys with that and I'll be back at it tomorrow. Try to focus on the small account. Get Green.

Shut it down. Let's try another day. I hope you really enjoyed that video and make sure you hit the thumbs up and subscribe to the channel if you haven't already. Our goal is to hit 1 million subscribers this year, but we won't get there without your help.

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