Well, here we are again. This feels very familiar. Second red Day Recap: Didn't this just happened last week? I was read on Monday and I was read on Tuesday last week. And then I rallied 50 000 on Wednesday, a hundred thousand on Thursday, and then I was read: 36 000 on Friday and I'm read about 37 000 today.

So two back-to-back red days and they're bigger red days. So I'm down about 75 000 in two days. What went wrong? What happened? Well, um, today I'm actually green in my small account, which is nice. Friday I was read in my small account.

I was right across the board on Friday. Today I was at least green in a small account and today I had a couple of nice trades. I had a nice trade. uh, on Neuro.

That was my first trade of the day. I had. um, I had a number of nice trades, but like Friday I overstayed my welcome. So something I did on Friday on Xbio.

Uh, I was read on the day and you know it was my first trade on Friday. That just put me in the red down. I think what was it? 20 000 or something like that? It was a big loss and it was disappointing. It was 12 000.

but it was a big loss. It was disappointing and so I was immediately trading. kind of from this place being read and when Xbio started to pop up I got aggressive on it with big size real quick. but because I had big size and because I was already in the red on the day, I took the profit off the table pretty quickly.

So I ended up cutting my loss on Friday from minus 28 000 to minus 14 000. Xbio keeps going and I was like man, if I had held that position, I'd be not only flat, I'd be green on the day. And so then I got back in again. big position chasing me and then as it came back down, I stopped out back to my low of day 36 000.

almost the same exact thing happened today. So I went red. I did go green on my first trade and then I went red on a flush at the open. Trading at the open is risky and that has, uh, you know, the last two days I've had disappointing trades at the open, but that's sort of not totally uncommon.

No traders rate 100 of time and I just happen to have that happen two days in a row. So then, uh, we had the stock pop up and I got really aggressive on it, but again, because I was on the defense trying to recoup losses, I took my profit pretty quickly and then so aggressive in terms of large share size, but then conservative in terms of selling. too soon it ends up continuing a lot higher. I bought a pullback it pops up a teeny bit and then flushes and ended up going from green on the stock to red just like Xbio, so I think the problem there is the fact that when you go red, you know you start to feel that desperation.

You start to get aggressive trying to go from red to green, trying to make back the losses. And so sometimes I start swinging aggressively at anything that pops up taking big position. If it doesn't work, I'm out right away. But if it works and I can get a little bit of profit 15 20 cents.

I take it off the table, kind of trying to chip away those small wins, but then if that ends up keep keep, it ends up continuing to go. It keeps going. I feel that Fomo that man, if I had just held it, I would have made back all my loss. And then that Fomo kind of kicks in and leads to an entry that's way too high thinking it's going to keep going.

And then it did it on Friday and it didn't today and and neither of the stocks both on Friday and today that I started making back money on. But that then I inevitably finished. read on. Neither of them were leading gappers, neither of them had really clear, obvious or what I thought were strong catalysts.

And so while we did get some nice momentum on both of them, neither of them continued in the same ways, for instance, as Neuro earlier in the week. And I think sometimes when you have a big momentum stock like Neuro, you start setting this expectation that everything is going to move up that much. And sometimes in a hot market, everything does seem to move up that much for a short window of time, and then it kind of self corrects and we start to get more traditional. Some stocks are strong and others are weak.

So right now we're in a market where it feels like one day is really hot and one day is really cold. It's really more. Not the day, exactly. But it's that on one day we have one stock that's really, really strong.

and then on a day like today, there wasn't as obvious a stock. There were a couple that were so so, but without that leading obvious gap. That was a problem, and that's what made Nero so strong in the previous trading sessions. But not third, not on Friday and not today.

And unfortunately, I'm I'm red today. So second, red day recap and I took some notes for myself. The notes I took, um, focus on the leading gapper. Uh, if I need to go into Trader Rehab, that's probably going to be one trade a day.

Just the way I was with a small account. One trade a day. I could do it with a big account as well. I don't want to, but I could.

and if I have to restrict myself to maybe two or three trades a day in the big account just to get disciplined, I could do that size down when read during the bounce back. I tend I think a lot of traders do this to size up during the bounce back as I'm trying to recoup losses, and the fact that I'm red is already an indicator that this isn't the right market to be trading really aggressively in. so I shouldn't be taking even bigger size than earlier in the day and size up only therefore when up big because at the same time, some of the strategies I have of buying high day breaks and getting really aggressive if something is squeezing higher. While it hurt me a lot today and yesterday, it also pays off when the market is hot.

So what's the difference? It's the same strategy. It's the same technique, but sometimes it works and sometimes it doesn't. The variable and what seems to be an indicator of whether or not it will work is how strong the overall market is, which is reflected in what my P L is. So if I'm already up a lot yes, pedal to the metal, be aggressive.

If I'm red or I'm like break even, that's probably not the time to be trying to step up and get aggressive. It's so hard for me to keep that presence of mind in the moment when I'm seeing the level two ripping. I'm seeing the time and sales ripping and I'm wanting to press the buy button and then for the month of August. So we're approaching the end of July here.

I don't know how much I'm up on the month. I'm quite sure I'm over 200 000 because I had a 60 thousand dollars just last week, I had 100 dollar day last week and I had some good trading earlier in the month, so I I'm quite sure I'm over 200 on the month. I'm not positive, but I'm pretty sure I've made the decision not to look at my P L this month so I don't get fixated on you know, where I'm at and then if I lose money, how much I was at at my peak before I started to lose money. so I tried to free myself from that extra stress.

But going into the month of August, um, I am contemplating this as an opportunity to exercise some discipline. Traditionally, August and September have been slower months for me. That wasn't really the case last year and last year was an exception to the norm. and so far this year has been an exception to the norm just in general.

So maybe this year will be a fantastic August of September? I'm not sure, but what I'm thinking about is, um, making a commitment for the month of August that I will not trade past the max loss I set on my account because this is a really tough one because as I've talked about, there are days where I'll hit my max loss at 9 32 and I'm like I'm not going to stop trading at 9 32. there's definitely more opportunities in the market. Maybe I don't make it all back, but I'm not going to stop trading 932. And so then I'll increase my max loss by continuing to trade past the number where I said I would.

And so I took some notes on the last four days where that's happened the last four days. Um, here in, Um, in the month of, uh, July. So on the first day it happened, I lost an additional 10 000 past the max loss. The second day it happened.

Um, I lost an additional fourteen hundred. so I made back six five thousand. and then I lost sixty five hundreds after that. So I was down fourteen hundred more than the max loss.

The third day I lost 15 000 more than the max loss. That was pretty big. Um, and the fourth day I lost 7 000 after taking a trade past max loss. So I mean right there, you've got 25, almost 30, 000, 35, 000 in potentially avoidable losses.

Now, the only thing this doesn't calculate is if there were days this month and there might have been, but I can't remember where I hit my max loss, but then finished the day green and therefore finished up after hitting Max Lawson. But I don't remember that happening this month and it might have, but it would have. been earlier in the month because I just don't recall. Um, some of us traders seem to have a short-term memory.

We've just so focused on the day and the trade. and we know that's day trading. We're in such a hyper focused, um, mindset. it's and it's a good thing to be able to kind of brush off losses and not dwell on them.

But yeah, I don't know. So my thought is, um, what about just for the month of August? Just a test, continue to take notes on the trading and stuff like that, uh, and how I perform when I'm having a day where I go simply in the red. But would I be willing for just a month to, actually, uh, force myself if I hit that minus twenty thousand dollars minus twenty thousand on the day to stop and to not take any more trades even if I see something ripping, Even if I see something that looks like a great setup and it feels like you know what if you hit minus twenty thousand and then there goes neuro. From four to five, to six, or seven to eight, to nine, to ten, to eleven, to twelve, you'd feel like an idiot for not trading it.

And that's why Outside out of mind is usually the right approach just to shut it down and get away from the computer, because that Fomo can lead you to jump back in. And just as I did today, on and on Friday, it's very possible to have a stock make a big move like that and you jump in. You get out quickly, you get back in, you get out quickly, then you get back in. Then it goes down.

You average down, it goes down more, you average down more, and then you take a huge loss and you're the guy who is down 35 000 like I was on Tuesday of last week. On a stock up over 100 on the day you think it's not possible, but it is. So that's my thought for the month of August, and I'm also wondering about whether or not it's a good month to put some size restrictions on my account for max share size because we're coming into what is typically a slower time of year. But I don't want to have too much of a bias because last August was good, and maybe this August will be good too.

I, I don't know. Um, and when the market is hot, even just one day when we have one stock that's hot like neuro, sometimes you feel like you've got to really dig deep and capitalize on it as much as possible because for the whole month of August, it's possible that we'll only have what if? Let's just say we only have three awesome stocks. Three awesome stocks for the whole month, But three stocks that make really big moves like neuro like you know could be days where if I'm aggressive, I could make forty fifty thousand dollars on each of those three days, not trade the rest of the month. Three days of trading, Three really great stocks 150 000.

That would be pretty okay, except for the struggle to have the discipline on all the other days of not trading and I don't think I can do that. but can I be focused on being aggressive when it's really the right time? and something I struggle with because I'm tuned to just be aggressive. Period. And you know these last two days are a reflection of when that does not pay off.

Of course, at large. Um, it does when you look at things big picture so I don't know. Uh, still. a couple of things I have to work out there I'm thinking about.

I'm not totally sure what the right approach is yet, but leave your comments below and what you think would be a good idea for the month of August: share size restriction, max loss restriction, or just you know, wing it, no restrictions and just go big or go home. Well, I don't think August or September are the months to try to do that with, but you tell me what you think and I'll check out those comments later on. and I'll see you first thing tomorrow morning for day 11 of the small account and just a regular Tuesday at the end of July in the big account. and day one of trying to dig myself a little bit out of this rut of the last week where you know, I went red, then Big Green and now gave back.

Ultimately, let's see, I made 150 000 in two days and then gave back 75 000 in two days. So I've given back 50. Four steps forward. Two steps back.

That's trading. It's risky, easy come easy go, and it can be really frustrating. And my results are not typical. So if you're a beginner trader, assume you're going to lose money and trade in a simulator before you put real money on the line.

We'll see you guys first thing tomorrow. All right everyone. So uh, Red day, take two down. uh 24, 000, 25 000 in my main account and down 12 000 in my retirement.

The only stock I'm well, I'm green on Xbio by 11 and green by 4 700 on Neuro Sgrp. I'm read on when you add the two trades together. Um, I was about flat on. Oh, I was green on it and then overstayed my welcome.

I think the the big challenge for me today has been that and maybe Friday as well. I keep expecting more momentum. I keep expecting bigger moves. So like Sgrp, my last trade on it, I had a trade right in here where I was sized up for a parabolic move through four and it topped out here at 386.

I thought it was going to keep going. I got back in right here and took a loss as it dropped back down. I thought that that was going to resolve back to four and I had the same thing happen right here. looking for the breakthrough 55 and it just couldn't go.

So you know today's been a choppy day for me. I'm green in my small account on two trades but right in my big accounts over trading. So the first trade of the day for me was on Neuro and I was up 4 700 bucks on it and that was trading at pre-market as it was squeezing up right here. so I had a nice squeeze here.

made 4 700 bucks. that was great. And then the bell rings and I lost 22 000 on sprt so I jumped in sprt as it was squeezing up here. I got in for the break of eight dollars, I got in at 7.90 and on this one same thing I thought okay that's the first five minute candle to make a new high.

I'm looking for the breakthrough 790, then up to eight it hit a high of eight and then I was looking for a re-test of the pre-market high of 83. Rejection just couldn't do it. Broke that level and it dropped right back down to 7-12 and I stopped out at seven. I waited a second.

I gave it a chance to do a red degree and I figured well, I'm in this deep I might as well give it a chance and I I stopped out. I had to. I had no choice so that put me down 18 000 on the day. you know, down 22 here, up 4 000 there.

Second trade Naov jumped in with 30 000 shares and man this thing just got really wrecked. I mean this is pretty nasty, but I got in for the red to green move. I got in uh right here as it did the red to green and was adding uh, I was in at 75. I was actually in at the top.

I was looking for the squeeze to four and stopped out. It came back down here at like 40. 30 cent loss or so. Um, 40 cent loss on 30 000 shares.

I'm glad I cut it when I did, but it just you know, I did not expect that. And um, so on Sgrp. When I first jumped in it, I was pretty quick to take the profit off the table and I was in at uh, about 250 in my main account. I sh, you know, if I'd held from 250, that would have been a great trade.

It hit a high of 386, but you never know how high they're going to go. And given what we had just seen on some of these other stocks, I was quick to take it off the table And then I got back in. And then I had a nice trade on the break of three. so I got in with 20 000 shares right here.

26 000 actually for the break of 310. I held it and then I switched to my retirement account and said all right, I'm going to hold that account in my main, hold that position in my main account and now I'm going to trade it more actively in my retirement account. So I got in at 320, took some profit at 330, got back into 330, took some profit at 340. got back in at 340.

then was adding 345 350 went big at 350. For the break through the half dollar, it squeezes up to 355 and I was thinking okay, 358 is the halt level going up. This thing looks like it's going to halt. I had 40 000 shares and then right here it drops back to 308 and I had to cut it.

I had to stop out. I took a 12 000 loss and I ended up stopping out of the 26 000 share position in my main account here. Break even. You know I thought it was going to keep going and you know, Yeah, it ended up coming back up here.

um through here. but it stopped me outbreak even and I couldn't keep holding it. I couldn't let it go. Uh, I couldn't let it go red and it dropped down here all the way to a low of 272 and then curled back up here to 386.

And on this curl I I tried to jump in and ride the momentum and again, it just didn't have as much momentum as I thought. You know it's tricky because I I mean we've been trading in such a hot market. uh the last year. Plus that's a five minute setup right there.

Um, you know I made 150 000 between Wednesday and Thursday on uh, Neuro and was it no. it was Neuro both days. You know, I I really, uh, crushed it on this stock. But then I lost 36 000 on Friday and I'm down 37 000 today.

So now I've given back 75 percent of the profit just from, uh, whatever. it was Wednesday and Thursday. So I mean, I know that last week I was up 60 000 even after, uh, you know, even after Friday I was still up 60 000 on the week. So I cleared the week in the green.

Now I'm down 36 000 on this week and I have a goal of finishing this week in the green the same as I did last week. And if I have a fifty thousand or a hundred thousand dollar day on Wednesday or Thursday, that'll happen. You know. But you just never know when the next Momentum stock is going to come around.

And I think the challenge for me is that I I look at setups, I see their potential, and I'm not always good at moderating my expectation of what the stock could do for maybe the reality of the current market today, which is that Friday and today were a little choppy. so you know, Unfortunately, I'm I I. I just am tuned to go big and going big does pay pretty well. but obviously this is the other side of that big losses when the market's not hot, and I think that I would be a more profitable trader if I was able to get better at easing off the throttle when the market was cold and I've said that a thousand times.

But I'm just not. I'm not good at that, the market's cold and I still, you know, I still trade aggressively. You know, look at this. This dropped down to 3316 off the View app and you know that five minutes starting to open up.

But while my expectation would be, I should get in right here for the breakthrough. 86 The squeeze through four halt levels 411. that doesn't seem like that would be realistic. I think the problem is kind of like a, you know, dog chasing a squirrel.

When I'm just looking at the tape, I'm seeing it ripping and I just jump in and and next thing you know, like right there I'd be a buyer. 72 74 75 Looking for the break through? 86 You know, just all of a sudden like that I'm in and I I find it very challenging to slow myself down when I see something moving quickly. So you know the good news is I am green on the month. Um, we are coming into August and September.

August and September tend to be slower months for me. Uh, last August I think was pretty good. I'll have to just double check my metrics. um, but you know we are coming into a little bit of a slower period of of the year so it's not a bad idea to reduce share size and kind of try to chill out a little bit just given the fact that I often find that during uh during this time of year I just trade not as well.

So so last year. So I'll give you you know, a couple of years here. so you can see. So this was August and September from so this was 16.

August and September were um okay. 17 August and September were not great. 18 They were not great. 19 August was surprisingly good last year.

20 September and August. Uh, August. September were slower than the previous months but they they were okay. and then you know we have coming into this year and I don't have um, my um, my metrics imported.

I guess fully. I must have imported something for July at one point. but uh, but I haven't been looking at where I sit on the month so my guess, um is going to be around 250 000 or so on the month if I was gonna guess. But you know.

So there you go. Look at that. look at that rejection. Ugh.

I don't like seeing that. It's not fun. We like to trade momentum. We like it when stocks are squeezing up.

We don't like this choppy stuff, but well, it's not going to be. you know, Christmas every day. You're not going to get a Neuro stock every single day of the year. So we will get those types of Big Momentum stocks from time to time.

and then we have to be able to be a little bit more conservative when things are slower. And today I was trading with Big Size. I was being aggressive and so now I've got two red days back to back. So Red Friday red here Monday and I will try to just be Green tomorrow Tuesday.

Obviously, if I just stopped after Neuro one trade I'd be up 4 700 bucks. So the one trade a day thing you know, jumping into Sprt at Eight was a little bit of a chase. And the thing that's very difficult is that chasing can reward you very well in a hot market because I'm sure that many of the trades I took on Neuro uh, even today was a chase that went straight up in in 10 minutes. Or if we look at some of the other days here, you know this went from 28 to 40..

So these often are stocks that you're chasing a little bit, sometimes a little bit, sometimes a lot. You buy a high sell higher. that is Momentum trading. and Momentum Trading for me is a very profitable strategy, but you have to manage the risk on it and you have to be able to be present in terms of understanding how hot the momentum is today.

So I don't know, but no reason to get too bent out of shape. Uh, it's just important to try to turn the loss into a little bit of a lesson, but I I really don't have any specific strategy for what I can do to get better at. uh, this kind of problem that I have also I suppose calling it a problem, um, it it's It's hard to always know. Sometimes I say well, maybe this isn't a problem.

Maybe this is just a feature of my strategy because it's been this way for so long. At a certain point it that's just what it is. This is just the way I trade. So if I look at my um, let's see detailed P L here.

Um, let's see, I'm looking for win loss expectation. You know. I mean this is kind of just the way it is. That's from Uh 2020, That's from Uh, April of 2020.

That's 7.3 million dollars. So you know the problem that I have Uh is a good problem to have, It's just the fact that I don't like these drawdowns. I don't like being down 75 000. I don't like being down 100 000.

I certainly didn't like being down over 300 000. But this, you know there's no trader who doesn't have drawdown because there's no trader that just goes up every single day. I think that it's um, maybe just. I don't know.

It's just the the frustration. A little bit of having multiple back-to-back losses, like striking out four times in a row. Five times in a row. You just kind of feel like you just feel like you're losing your groove.

You lose a little confidence. That's not a great feeling. Maybe that's it. Maybe that's what's most upsetting about it.

But anyways, uh, not going to get too bad out of shape over it. I you know I would like to grow this account. Um, so from let's See One 2017 so I'm you know about 1.1 million away from crossing 10 million in gross profit which is my my first goal at this point. Uh, that doesn't include most of the profit though from July, So we'll see what I'm up at the end of the month.

But like I said, I haven't been looking at where I'm at because I because the problem now is I would if I looked at where I was at maybe I would say oh wow, I was up 350 and now I'm up only 275 because I know that I'm down 75 000 in two days. So you start feeling this pressure to get back what you were down, same as during a regular day of trading. I was up five thousand and I lost three. Now I'm trying to get back to up five, so to take that that calculation completely out of my mind, I've chosen not to look at my P L this month, which is good, but I will look at it obviously at the end of the month which is only a few days away.

So this is the last week of the month. Hopefully we get a couple of a couple more nice momentum stocks and hopefully I can find a way to trade something like Sgrp that is up 68. Uh, without losing money. That's I think that's where it gets frustrating to be to have a stock where it's up 63 and I somehow managed to lose money on it.

That's where it feels like it adds a little insult to injury. But this is trading and it's hard. And it's risky. And um, it's mentally hard.

It's physically, not really super hard. but it's It's mentally a big challenge. and every single day you're faced with that challenge. And they're traders who will trade for years.

Um, you know they'll be five years into their career and then they'll hit a slow patch or and it even happens with big investors because you just always have that pressure of i'm only as good as my last trade. This is a performance sport I have to keep performing. You know you, the Olympics are on right now and you think about the Olympics and um, the the awareness that these athletes have that there is a limited period of time where they can truly compete at an Olympic level. and once that window closes, that's it.

The sponsorships will go, you know, and they've got to move on. And I mean you can only do some of these things for so long. And so that's something that we have in a little bit of different way with trading. Well, you could certainly trade for a much longer period of your life.

You feel that pressure that you have to keep performing. You go on an extended draw down or extended slow period. You start to feel that pressure. Is it? Is it over? Have I lost my touch? You know? Is this now? Uh, you know the young guys are coming up and and I just haven't adapted everyone's trading crypto and I'm still here trading Nasdaq and Amex stocks or whatever.

You know you just you start to wonder. Uh, now I'm not actually genuinely wondering those things after two red days, but after an extended long period you you can feel that way. And I've had that happen to me before. I had my longest period was about six months and in those six months I only made like thirty thousand dollars.

I made money, Then I lost money. Then I made money. Lost money made money lost money and it kept happening. Um uh hey David, that's awesome.

Good for you. David said he's a double gold medalist. joined the warrior team as a retirement plan. What was your sport? Congratulations, that's that's awesome.

That's really cool. So this I suppose speaks to him. Um, for sure. but but I think that that's you know this isn't like, um, I don't know.

It's not like opening a a a retail store or a, um, I don't know. You know some type of online business or something. You know where you're just like I can sit back and you know, whoever owns like Ll Bean or whatever you know they don't have. I mean, I'm sure they have some pressure.

Are we gonna get pushed out of the market by Amazon? You know, will people still buy from our catalog? You know, I'm sure there's still pressures, but ours feel so. um, they happen so frequently and they can happen after like every trade that there's just this, um, different pressure that's there and that's something that can be really hard to handle and it's something that I, um, I still, I really still struggle with. So no, I don't know. but that's where I'm at today and I'm sure I'm not the only one having a red day today, so I'm sure some can relate to this.

We will get through this, um, little two day cold stretch. I mean, it was a Cr. I was like super hot market four days ago, was at my high of the month with a hundred fifty thousand dollars in two days and then two back-to-back red days. and both of them are big.

Both of them are, uh, in excess of my daily average, which is twenty thousand dollars a day in profit. So I've now given back basically four days of profit average profit. So it's gonna take me four days to get back to flat, but at least, uh, maybe longer. so I gotta sit down, buckle down.

Plan for just getting in, getting green, and then getting out, and putting some back-to-back green days under my belt and not overstaying my welcome. Uh, and and and perhaps being a little bit more dialed in on my quality of setup for the big account the way I am for the small account. you know, small accounts. Green today? Uh, of course it's only 493 dollars, but uh, it's green and I took only two trades and I focused on better quality setups.

Certainly, if I had just taken two trades in my big account, I most likely would be green. But maybe that will be the approach. Uh, for tomorrow, just to trade less, limit myself a little bit and try to get green and then end the two-day red streak. Because really, like today, obviously I'm not thinking about the red days from last Monday and Tuesday.

Last Monday and Tuesday I was in the red and I was feeling bummed out about it. and then you know within a couple days I was made back. All the losses we had. some hot markets.

wasn't expecting it, but it happened so I'm not going to be spending the rest of the day you know, moping or dwelling on this. It's not worth it. The water. The loss will be water under the bridge within a couple of days.

but I do hope to finish tomorrow Green. So one trade, maybe two. we'll see, get green and then call it a day. So that's it for me.

Uh, so green. Uh, in my small account, but read in my retirement account and my main account. pretty much the same as as Friday, so just not not a great follow-through was too aggressive buying into high-day breaks and not getting continuation. With small size it's easier to jump right out, but with bigger size it's harder to pivot as quickly so got a size down.

Slow down and you know, ease off the throttle a little bit. All right, that's it for me. I'll see you guys tomorrow. 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.

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