I learned an important lesson today: a lesson about a color a color that I will never wear ever again. I'm down $11,000 and well I can really only blame one color. you know what the color is I gave red a chance I tried to make it work I gave it every chance in the world. Fool me once.

Shame on you. Fool me twice. Shame on me. So today's one of those days where I got a little aggressive and I paid the price for it, you know I felt early in the morning that I was starting to get frustrated because I tried to take three trades and all three of them.

For whatever reason my I wasn't getting filled. It was really weird I'll have to see if it happens again. there's probably just the luck of the drop. but I was feeling frustrated because I missed three good opportunities.

So then the fourth trade comes up and I'm trying to compensate for missing the first three and I go in with bigger sides I get right in I'm like I'm not missing this one and then it drops right away and I lose $4,000 I mean it was ugly and then a minute later I see another stock at the scanner and I did what I always say I shouldn't do which is I just I impulsively jumped in I looked at it and I was like oh my god, it's up 80 cents. It looks like it's about to get halted on circuit breaker. I'm gonna jump in. it's probably gonna get halt, it's gonna open higher and boom, that's gonna get me out of the hole.

you know I was thinking get me out of the hole instead of is this a good trade and that's that thing we talked about about needing that moment of pause if if I could set up this type of thing on my account where if I have a trade that I'm down more than four thousand dollars I'm not allowed to take a new trade for 15 minutes like just a pause. and if I try to, it's gonna reject my order. Hey, you're in your 15-minute pause. That for me would be incredible because it would stop me from doing this snowball having one loss and then right away going in for a second, a third, and a fourth.

So I'm down 11,000 bucks today and even though I was up 14,000 on Wednesday and 4,000 yesterday today feels a lot worse than those days felt good. So those days were like yeah, a decent days and then down 11,000 bucks feels horrible and going to the weekend I Know, spend the whole weekend thinking about how I'm such an idiot for being so aggressive. but I'm gonna try to, you know, cheer myself up, pat myself on the back and say hey, you're still up twenty thousand dollars on the week it's still a great week. Yeah, you pushed it, but you don't know your limit until you push it and you don't get to.

you know, $583 to happen dollars without pushing it sometimes and when you're on the edge of your comfort zone, sometimes you will fall. You will have losses, but you get back on the horse and that's what I'm gonna do on Monday morning. So anyways, we'll break down all of the trades today during today's midday market recap. Alright everyone, so finishing the morning here, important lessons were learned today and that's what trading is all about.

learning from your mistakes. My biggest mistake was choosing to wear red today which is a color that I will never wear again as a trader. Finishing the morning down $11,000 which is obviously completely disappointing and I had such a great week so you know to be up 28,000 on the week and then have this loss is disappointing. For sure.

to have the loss right before the weekend I'm gonna be thinking about it all weekend long. So yeah, I'm still have 20 grand on the week or whatever it is which is good, but it almost you know. it's one of those feelings if you're only as good as your last trade so it just basically feels like it. that doesn't mean anything to me then that's I'm just being honest about how it feels.

I'm sure some of you guys are like Jesus I would I would kill for a $20,000 week and even if it meant that I had to lose $11,000 on Friday I'd still kill for it. but you know when you're in the in the midst of it and you're in the zone, you you? You don't feel like a hero for finishing the week up twenty grand? When you it's you know it's like you're in a race and you have the best time. but you crawled for the last quarter mile. It's like all right, I mean I don't really feel like I finished with a lot of confidence or a lot of strength? Yeah, I finished I guess I came in you know, first or whatever it is, but it's certainly not the strong finish that you were going for.

so that's kind of how I feel right now and again. I'm just, you know I'm not trying to be ungrateful for making twenty thousand dollars in a week. I Do feel really fortunate and those feelings of being fortunate will come a little bit later. but right now I still feel a little bit disappointed in my trading today.

So let's break down the trades from this morning. it happened pretty quick I stopped trading it like 9:40 I mean I was done in the first 15 minutes. so very first. Well here's the thing and for this is interesting.

So my first a trade attempt was on M Dgs and what was kind of weird was I I tried to jump in at $2 for the opening range breakout 10,000 shares I it at $2 and I I didn't get filled. Bad luck you know it is what it is. so I didn't get filled with 2 bucks. it squeezes up to a high of 240 which would have been a $4,000 winner and I probably would have sold for like a $2,500 winner I probably would've gotten like half of that.

So that was a bummer that I missed that trade completely. so I didn't get anything on that and nothing. Then Khali comes up on the scanner and I try to jump in Caly with 5,000 shares at 227 it then squeezed up to - sorry 527 then squeezed up to 584 and and I was I missed it So I missed two trades in a row and now I'm really getting frustrated and I knew I was getting frustrated but I was just like take a breath, you know it's okay BG I was halted. it was up a hundred percent and it resumed from the halt and I jumped in thinking it it looked like it was gonna squeeze higher and maybe go to three dollars.

I got in at 257 and 259 and 269 here with like 60 100 shares. it then like instantly drops to two toddlers and it's just like okay, that's gonna be a loss, it pops up to 250 I gave it a second and then it dropped all the way to a dollar fifty six. I mean what a rejection So this is really I mean it's you have a margin of error for whatever reason on this one, it just didn't hold up at all. and so I took a four thousand dollar loss on it.

And here's the problem. so that was at 9:38 and ninety seconds later see DNA hits the scanners and without taking time to really slow down and say look, you're down four grand on the day, why don't you just maybe call it a day and be done I see this spiking up and I'm like I'm gonna jump in it I'm gonna jump in it at eight dollars because this thing looks like it's gonna get halted on a circuit breaker I want to get in before the halt. It'll probably halt and then I'll try to sell it up around nine bucks. that's what I was thinking.

Alright, so I was like I'm just gonna jump in this and I jumped in aggressively thinking I was thinking it was about to get halted I took ten thousand shares and then added another twenty five hundred at literal high of day. Well, not literal. It was 8:30 and we hit a high of 35 and then it dropped. It came all the way back down to 698.

Three minutes later, it did not hit a circuit breaker halt. It did not continue higher and on that one I had to bail out and I sold half of fifty eight, a quarter at forty eight, and the rest at forty four. A seven thousand dollar loss And you know that's how quickly the tide can change. So one of the things that I was mentioning in the little video that I made before this recap.

so those of you watching on YouTube will see it. Those who go on Facebook you haven't seen it yet I was talking about how you don't, you don't know the edge, you don't know your limit until you you push it and you don't know how long a hot streak will run until you take that loss. because in the last few days, stocks just like BG I have been getting halted three times. So buying after the first halt has been okay because they've been going into a second halt and several have gone into a third halt.

So this based on what's the the setups. we've been trading this week, but this was a good entry. Now it didn't work, but it doesn't mean that this didn't wasn't working all week and that's what gave me the 28000 or whatever in profit that I got up until today. Cali it was the same thing I got in that at 525 as it was squeezing up and it squeezed up to $8 PRP Oh, I got in at a dollar 28 and it squeezed up to you know, 250 or whatever it was.

So this just didn't work today and I should have been faster on. cDNA I should have done two things I should have said Dhoni I shouldn't even taken the trade because I should have just said you're down four thousand bucks. Be very, very careful about what you're willing to trade. It's better to wait on the pullback, then just jump it and on this one I just jumped in and that was a mistake I should have waited on a pullback.

Jumping in can work when you're in a really strong market. but today already I was getting the the early warning signs that the market was not strong. so that was a problem and you know the I wish that I was had this kind of reset button on my account where you know I go into my trade warnings here and I could create a warning I have a warning at share size I'm gonna bring this down to 10,000 shares for Monday because I don't want to take really big sighs on Monday I want to just be green and get back on the horse and not have another big loss. but I wish I can have another one here where if you have a loss bigger than X amount, maybe I say $2,000 don't warn me on taking a trade any time for the next 15 minutes.

So like so, I would just sort of have that additional warning sign not to keep jumping impulsively into trades because it can be impulsive and that's what I talk about with the emotional side of things that even though logically I'm saying yeah I got a way to guys slow down when you're in the heat of the moment, especially after having a really big win or a really big loss. It's easy to get a little impulsive and to trade from an emotional standpoint. And I've been doing this for seven years, six years. and I'm saying even now it these things still happen to me.

You don't become totally immune to it, you constantly have to reinforce good trading behavior, and you know and making good decisions even when you are under pressure. But you know we were looking at my Trader View report yesterday and I'll pull it back up today just to again put things in perspective a little bit. Not to discredit the fact that this is a red day, but this is my month so far. this will be my third red day of the month and you know I can look it.

Let's see where is this win-loss days? Trying to remember which one shows the the big equity curve? Let me filter. I'll filter this all the way through January of 2017 Did you did you to do win-loss expectation? Can ever remember where it is? There's somewhere where you can see a chart of your equity curve I Think it might be under detailed actually detailed win-loss expectation? Here it is. So this is my equity curve starting $583 you know, a year ago and strong. Move up, some sideways sideways.

another big push up right Here this was a huge leg up but I had some draw down so I had draw downs here and I had a little draw down here in February before I've started open up. So this you know this right here. This little blip was 14,000 dollars of profit. So just to put it in perspective, so losing eleven thousand dollars today I'm going from here to like here and I'll recover I'll get back on the horse.

it'll be Monday morning and we'll just keep grinding back up, making my way up towards the million dollar line in the sand. That's the goal to take $583 and turn it into a million bucks and it'll happen And and there will be other big days like this. This isn't my biggest loss of the year and it probably won't be the only time I have a five figure loss in 2018. I'm sure I'll have another one that you know catches me off guard I'm in a really hot streak and then boom I take a big loss and I get knocked down.

That's part of trade getting knocked down and that's why a lot of people say this is such a hard job because you've got to be able to handle getting knocked down and it it's not fun. It's not fun to take these big losses. Actually, this might be the biggest loss of the year I Don't remember if I had a date in February that I lost this much February was a worst month in terms of accuracy, but let's see ya. actually didn't have a $10,000 as $7,500 losing day and then in January January was pretty strong.

So yeah, this is actually my worst day of the year here. You know that'll that'll be $11,000 And why is? why do I not have a trade for the 13th? Don't tell me I didn't trade that day excite I know that I did the 13th? Yeah, Alright, so I'll have to add that in there. But anyways, 14,000 green on Wednesday Nine thousand, eight thousand, nine hundred on Monday And yeah, eleven thousand today. It's disappointing.

I Guess it's the worst day of the year, but it's probably not gonna be the only day of 2018 that I'm down more than 10 grams so you guys will be able to watch over my shoulder through all the ups and all the downs. Midday recap every day as usual and this is really you being able to see what it's like to be a trader. Yeah, we're gonna. we're gonna have awesome days.

Thirty forty thousand fifty thousand dollar days. I'm hoping to have a day sometime this week where I make $100,000 in a single day, but I will have days where I also take big losses. You know if you're stepping up to the plate and going for big winners, sometimes you're gonna miss and you're gonna strike out and that's just part of the deal. So yeah.

Peters still finishing up probably 18 grand on the week right around there. So Green is good and even though I had a little bit of a bump here at the end of the week and I learned an important lesson about wearing the color red, it's not gonna stop me from getting back on the horse on Monday morning. Alright so I hope you guys have an awesome weekend and we'll be back at it first thing on. Monday All right, I'll see you guys then if you're still watching, you must have really enjoyed that video.

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