What's up everyone? All right? Well here we are. It's the end of the first week of August. sounds familiar and I'm sitting here with a big red day. Well, I have told this story many times how one of my turning points was the first week of August and it was a big red day at the end of the week and it was a 4, 500, 5 000 red day.

and it put my account below the Pdt level and it meant that I wasn't going to be able to day trade unless I deposited 4 000 or 3 000 and got back above the Pdt level. I didn't have the money to deposit back in my account so I had to go into my barn and find some stuff I could sell on Craigslist to come up with some money. And it was a difficult time and during that period, I poured through my trading metrics. I asked myself, what am I doing? It's working.

What am I doing That's not working And that was the beginning of me turning the corner now. Uh, the problem on that day was that when I lost 5 000, my monthly goal was 5 000. So I had dug myself a huge hole. My daily goal was 200.

so I was down, you know, 25 times my daily goal. It was bad. Today my daily goal is 20 000 a day. I'm down 36 37 000 today.

It's just disappointing. It's discouraging. It's not the way I want to start the the month of August, you know. I started with two small green Days Trader Rehab 5000 on Monday 5000 on Tuesday Wednesday was down 28 000 before recovering and finishing down 4 000.

not a good day Yesterday took one trade, made 400 bucks Today I lost 1600 on my first trade, made it back on my second, got green by like two thousand bucks. uh, and then took a fifteen thousand dollar loss and just like that, I was down twelve grand on the day, tried to recover, uh, recovered some of it. Uh, but then fell further into the hole and now I'm below max loss below 20 000 and I can't trade anymore. Today I'm done.

Maybe something goes up if it goes. Goes without me. I got to cut the losses somewhere, so that means I'm down. um, 36 minus 10, 26.

But then plus four. So 30 000 on the month? Well, my monthly goal right now? you know I actually don't To be honest, I don't really have a monthly goal right now. I, I really haven't been, uh, setting one. Although my good months have been between 250 and 400 000 this year, it's pretty impressive.

So I have a goal right now of at least hitting 100 000. That's kind of my minimum goal. The fact is, I can do that in one day, in one good day, or two decent days, or three just okay days. So it's kind of.

The bar is set pretty low at 100.. 200 is a little bit more of a stretch because it requires me to trade really well pretty much the whole month, and 300 to 400 requires not just me trading well, but some true parabolic momentum like you know we had on Neuro last month. And so you know how almost half of my profit last month came from that one parabolic stock this month? Uh, I'm up about 35 000 on Robin Hood, but I'm down like 50 000 on Bysi losing on it on the first day, not trading yesterday, and then losing 43 000 on it today. Uh, and it's the classic problem of I had a good trade.

I had a great entry but with small size. I sold it, then added back with big size and then it fails. Of course. You know what a hot market.

the ad back continues in this market. the ad back has been failing and so uh. I. I feel pretty discouraged because this has been a real trade.

A rehab fail this week. Um, I did well the first two days and then Wednesday was bad, Yesterday was was good and then today is bad. So it's just not been a good week for me in terms of restricting myself to smaller size and having discipline and really taking it slow. It's it's you know, kind of just the way I'm wired.

I trade big, I go big, and when the market's hot, I do really well and there's no doubt about it. pays well. I'm sure there's people that watch me trade that are like oh my god, he's adding at the highs. What is he doing? You know it's not a hot market.

He's going to get nails to get crushed. and then there it goes. Of course in a hot market, they see they added the high. They're like man, he's got some cojones.

Look at him, he's adding at the high. This thing. Whoa. it's so extended.

But there it goes. Another two points. Did he just really make sixty thousand dollars in one trade? So it's a sword that cuts both ways and that's just the way it is. Um, you can't have the winners without the losers and the losers are discouraging.

Days like today are you know? feel like a real downer and especially miss the beginning of the month, a slow month? Um, you know, and I'm it's I think the problem for me with Trader Rehab is I go big on the first trade. I go in with full size of 6000 shares on the first trade and then when I lose on it I just feel like well, then on trade two I need to take bigger size to make back the loss. You know if you lose a full two dollars a share with six thousand shares, you're down twelve thousand. There's It's like the odds of you making two dollars a share are so slim for me that the only way I'm going to make back 12 000 is by increasing size and then getting smaller winners.

But multiple smaller winners. And just like that, you know I'm like, all right, I'm I'm overriding the the share size restriction and that's what I did today on Robinhood which paid off, but on Bysi did not pay off. So uh, you know I. I'm I'm not going to say that I'm going to do anything really differently next week.

This is. uh, you know I've been trading for so long. This is just the way I trade. There's green days.

There's red days. The red days are great, are big, the green days are big. You know this is just how it is. So I'll be back at it.

And I am thinking about taking you know, maybe a couple days just to kind of like press the reset button. I'm glad that we're coming into the weekend. Um, and in hindsight, had I focused on the small account because that was what I was thinking about, I was like, maybe I should focus on the small account. Like all week next week.

That's what I was saying a week ago and you know I didn't. I mean, I I traded both accounts. Maybe next week, I really should just put the big account on the shelf. You know it's down.

You know? Now I'm I'm continuing the red streak that began in July. That's the problem because I'm down 30 000 this week. So I was already down 126 000 last week. Now I'm down another 30..

So I'm glad the loss is smaller than last week. But now I'm down 150 000 off of my all-time high of a year, which was probably like 2.7 million. So it's tolerable. But you know the loss is getting bigger and the drawdown is getting bigger.

If the market's not giving me those big wins, maybe it is better just to put that account up on the shelf. And the thing in the small account is that I just simply don't have the buying power to go big. I can't do it, not until the account grows, so it may be a good idea just to I. It's one of these things that I've said before.

I hate putting it on the shelf when it's in this state of kind of. You know, I'd feel better putting it on the shelf when it's like at all time highs because it's like it feels more complete, like you've completed a project. Or you know you've got this like you're at a good stopping point. It doesn't feel like a good stopping point when you're kind of stopping after having a big screw-up Although that's probably psychologically the best time to stop just to get some space from it so I've got some stuff to think about over the weekend.

I'll maybe I'll do a video on Sunday or something like that and let you guys know what the plan is for the week ahead because I'm not sure what it's going to be right now. I don't know, but having two red weeks in a row is discouraging for sure. And it's seasonally typical July August, but it doesn't make it feel that much better. So it's kind of the same as I started January.

First two weeks of January I lost like 180 000 bucks, finished the month up almost a million dollars. But it was a bad start so I don't know. Not sure what I'm gonna do, but in any case, um, I'm I'm really grateful that it's not a 200 000 or 300 000 red day for sure. You know, because it because then then in one day I would have lost my entire profit for the month like I had so many years ago when I lost 5 000.

And then it's It's unthinkable. Not it's it's like I'd have to trade. Fantastic. just fantastic setups.

Perfectly trading just to finish the month, flat to finish the month. Even green would be impossible. And that's not the situation right now. The situation right now is I'm one good trade away from being green on the month.

That's great. Okay, can I have the discipline to wait for one good trade? or am I going to keep getting chopped out trading? You know these poor not as good quality setups and that comes down to discipline. It's a really tough one. It's a tough one.

for I think probably a lot of day traders because we're so tuned to being aggressive. That's uh, that that internal wiring to be aggressive is what makes me a good day trader. But you know, even the best day traders. and I'm not saying I'm the best.

But even even good day traders Profitable day traders? Uh, struggle with knowing the right time to ease off the throttle and we all go into red Street stretches have ruts and digging our way out is important, so I'll be interested to see you know, a month from now. Kind of where I'm at. six weeks from now. How I was able to dig myself out of this one? If it was just through focusing on small trades for a period of a couple weeks like trying to just get green small easy trades.

Or if it was, I don't know. We'll see, we'll see, time will tell. All right? So that's my intro to the recap. I'll do the full recap, which is just a continuation the same conversation.

really. I'll show you the trades I took, but um, that's it for me Again, This is my digital journal. I'm just sharing with you guys the ups and downs of being a trader. A lot of ups, but there's a lot of downs and trading is risky.

My results are not typical and most traders lose money. So this feeling right now. This is what most traders feel every single day. It's just finishing the day disappointed.

Discouraged. Frustrated. Not sure how to move. Uh, how to sort of move forward? So yep, it's a challenge.

appreciate, and really take note of that. Okay, so that's it for me. I hope you guys. Uh, enjoy the recap.

Hit the thumbs up. It's a red day recap. Transparency is important. I'll be back at it and I'll see you guys.

I'll see you guys soon. Okay, enjoy the recap. All right. Well coming to the end of the week here, finishing red down 36 000? um the bulk of everything Really the loss on Bysi.

Ironic because you know you have this big move here. the problem and this is you know this is where I struggle a little bit. Um, I have a small size trade here because I was already down 15 000 on Bysi at a small size trade here. made back like three thousand dollars on this move, then had a nice trade here and then on.

This set up right here took uh, too much size and disregarded my six thousand share max size and then ended up taking a twenty thousand dollar loss on that trade. So went from down fifteen thousand or whatever to down thirty six. Uh well. well gosh, I don't even know whatever it was so I just got got myself too aggressive and this is um, typical August.

Trading Hood was my biggest winner 9000. So I did well on that. But uh, Bysi was. just the losses on that were just too big.

And you know, I stopped out at the low of that drop there. that was. You know, just me bailing out, cutting the loss. And it's always tricky when that happens because even right now it's up a little.

It's up about 30 cents off of my stop where I bailed out, which was pretty much the low of that candle. Five cents off the low. But you know at a certain point you can't just keep holding it. It could flush back to V-wap If you just stare at it while it drops, you get caught a halt going down.

So I am red on the month of August. Um, by, you know, about thirty thirty thousand dollars. I really only have. I have two green days.

Five thousand each. Then I was, um, down four thousand on Tuesday or Wednesday and then yesterday was up four hundred. So down thirty six thousand today. Uh, it's tough when the market just doesn't feel like it's on your side, where you come in every day, day after day and just you know, kind of keep getting smoked.

It's disappointing. It's not fun, nobody. No one in the world likes that. Um, you know.

Unfortunately, it's kind of the reality of trading. There's no such thing as a trader who's green every single day, every day of the year. The only person who's green every day, of the year. is a stock broker who makes the money on the commissions traders.

We have green days, We have red days, We have green months. We have red months. As we sit right now, I feel really grateful that, uh, you know we're coming into, you know, it's the first week of August. Whatever.

So I'm down 25 30 000 on the month. That's not a big deal, I know for sure and you guys have seen this that in one good day, I can make a hundred thousand dollars. Uh, unfortunately. um, this has kind of been my my stretch here for the last little bit.

You know it's and this wasn't This isn't updated for August, but August will have two more green days like this and then one more red day like this. You know I'm cutting my losses pretty much at the same level. you know, 30, 36 000. I'm not trying to fight it and you know, make it back.

I'm just saying, uh, well, that's that's that. That sucks, but you know what can you do And but I'm not having these type of green days and the way I had in June July 28, 30, 40, 000 green days like back to back. you know, 10 of those in a row and you're sitting up 200 000 on the month. A nice hundred thousand dollar day is obviously what you like to see.

So as we sit, um, right here, you know I'm just. um, I'm in a grind and this is very typical of August. Uh, I would say that it's another Um. setback for me in terms of trader rehab and managing risk and using small size.

It's something that I'm really struggling with. I I'm not good at committing myself to it. You know I'll do it for a couple days and then I'll just say, you know what I'm I'm I'm cutting myself short. I'm selling myself short by not being more aggressive, but you know, at the same time after this is what was I.

I was read last week. So this is two red weeks in a row for me. Uh, which is. That's pretty bad.

It's disappointing. Big picture. You know it's not that big a deal, but you know when you look at the calendar it's like, all right, that's a red week And then here first week of August is a red week. So you know I'm in a bit of a struggle here.

These last, um, three weeks or so, I'll be. I'll be happy to break out of it. but at the same time, it's no different from what I had the first two weeks of January. It's not different from the first two weeks of February.

Those red days were Huge. This was a hundred thousand dollar red day and that was 260 000. I dug myself a huge hole in the month. Um, you know, April Some bigger red days there 58 000 May.

This was a bit of a red stretch. wasn't super deep, but you know, June? Thirty Seven thousand, Twenty Five thousand. So you know this is just the way it goes. And uh, if you didn't already know, trading is risky.

Easy come easy go. Just like that it can be gone. So uh, no reason. Uh, you know I'm I try to look at the glass half full, as much as I can.

So looking at the glass half full, I'm up. Uh, let's see on the year 2.6 million gross profit. So I'm down 30 000 today. It's all right.

This strategy pays really well. Granted, it pays better when the market's hot, not as well when the market's cold. but big picture. Over a long periods of time, strategy pays really well.

I'm just. I've never been good at taking my foot off the gas. I trade big. I go aggressive.

Hot markets are cold markets. I swing big and at some point someday in my career maybe I'll get better at that. but I sort of doubt it if I haven't At this point, I don't really think I'm going to change. So you know I trade Big.

I trade aggressively. and that's the way I turned less than 600 bucks into what's now 9 million gross profit. So you know I sometimes feel like I I wish I could ease off. I wish I could go slower.

but going big is what's worked for me. And the the thing is, if you can't handle the losses, then you're not going to be able to have the winners. And so the losses aren't fun. Uh, but you know I I have losses like this all the time and I bounce back the next day.

I step up to the plate and you know, who knows, maybe on Monday I'll have a 75 000 Green Day 100 000 Green Day can happen just like that. And you know, when the market's hot. You guys have seen how I can stack up those profits. you know, 20, 30, 40, 50, 70, 80, 100, 150, 200.

the best day this year was just under half a million dollars. So it just sucks to have a grind of two or three weeks where you keep just kind of like stepping up to the plate and swinging hard and you just feel like you're in a little bit of a rut. but you got to try to keep your head up. We've all been there and uh, it's part of trading and trading's not easy.

The hardest part is the emotional stuff so I never like to finish the week on a red note. I don't like to start the month in the red, but this is what it is here for the month of August. So down let's say 30 000 or so on the month. Um, that's fortunately for me.

just one good day away from being back to flat. You know it's a few good days away from being up 100 000 on the month. So I I haven't dug myself such a deep hole that I have no chance of recovering by any means. but you know I'll need to try to hope that we have some better opportunities in the following three weeks for the month of August.

If you know, let's say if next week shows the same as what we're seeing now it just continues to be choppy, then you know it's going to be a little discouraging, but there's nothing I can really do about it. I could choose not to trade at all. I could say oh I'm not going to trade, it's going to take, you know, just take the rest of the month off and come back in September. I could do that, but I don't plan to.

You know, I I like to be able to be here every day because you never know when you're going to get that surprise move and a lot of times they do come as a surprise. All of a sudden you have this big move and you didn't see it coming and if you were just sitting on the sidelines you would have missed it completely. So I show up every day looking for opportunities and um, I don't know. we'll see.

Maybe maybe at some point I will think about. um, I'll see, I'm going to think about it this weekend. Um, and kind of come up with a game plan for next week because I I don't really know. I mean I'm in three weeks now.

choppy trading. So maybe it is time to take a little step back and take a little summer vacation and and recharge. Um and then come back a little later. I don't know.

Maybe maybe that is the time because you know, the third week of July I was down like 30 000 and then had two huge days, you know. But then it proceeded to give all of that back. So I don't know. I mean the fact is, the market's just not very hot right now, so we'll see.

I'll keep thinking about it. But um, for those of you guys going through the classes, Study, study, study, watch those live archives. This, you might not think it. but this is the best time to be studying because when you're studying during a hot market, you feel so much fomo because you're missing so much opportunity.

Studying during a cold market prepares you for the next hot market. So prepare. Get ready, Study, study, Study. That way, when things start to pick up, you'll be in a position to really experience it and practice and and do well with it.

All right. That's it for me. Um, sorry to finish the week with kind of a downer, but it's just the way it goes and I'll be back. and well, we'll see.

Uh, I'll I'll be back. I'll be back. All right, I'll see you guys later. 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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