Okay, so let's go over the trades from today. I'm finishing the morning up $376 It's not the most impressive morning. Having said that, it's Friday and I didn't really want to push my luck too much. and I'm also actually you know, trying to kind of just bounce back a little bit, not bounce back in terms of revenge trade, but just sort of clear the slate from the red day that I had yesterday yesterday was one of the biggest red days I'd had and like a month or a month and a half.

So that was kind of disappointing. And it was definitely. It's just interesting how one trade that you get a little impatient on and get a little too aggressive on can just so badly throw off your day, your week, or even your month. Trading is one of these things where you have to be able to maintain composure through every moment that you're taking a trade.

You know, even one you know fifteen minute lapse in judgment can cost you tens of thousands of dollars potentially. And that's you know that's a little scary. It's almost like trading is like being. you know.

It's like being a surgeon. Every trade has to be calculated. You have to make good decisions. Now, unlike a surgeon, we can afford to be wrong thirty percent of the time and that's fine.

But even when we're wrong, it has to be within the parameters of what we can tolerate. In terms of risk, We can't you know, be wrong and lose a hundred grand because you know you can't make a living as a trader if you do that on a regular basis. So anyways, today, my goal was simply to have a green day. just finish the month with a green to finish the week with a green day, not do anything crazy.

Having said that, there wasn't a lot that looked good this morning and that was a little bit of a concern. So our Gap scanner here I'm gonna run this for a historical date. We'll do this at 9:20 a.m. this morning and this is exactly what the Gap scanner looked like this morning.

So as I sat down I was like okay, well a ADHD is the leading gap or up 19% but I said I don't trust it this doesn't look that good to me I really don't think I'm gonna want to go for it so you know we'll see maybe over 140. But this week it's sort of been weird because we've had these low-priced ox's and moving up. But like Dr. Wi, both days this gapped up.

its sold off. You can see on the daily chart. actually, in fact, on this one, the last one two three, four, five, six, seven, eight, nine days have been read on this stock. Despite gapping up substantially, it sells off, so it's just been.

you know, really, not an easy one to trade. So that was the Yard Wi Yesterday There was hu s a low price stock kind of broke through a dollar and then back down to 70 cents down 30% We had a bi L which is the one I lost on yesterday, squeezed up but rolled over hard couldn't hold these levels I got into high A which GI earlier in the week was interesting but you know has not been able to hold up so when I saw ADHD on the scanners I wasn't super interested in it I just felt like a another one dollar price range stock I don't just kind of sick of these. next one down Kmph. And it's not just that I'm sick of them.

it's that this is a 27 million share afloat, gapping up 19% 600,000 shares a volume. It just doesn't have the the look for something that could go to. you know a two three four hundred percent move potentially doesn't have that potential. Kmph the next one on the scanner.

this one has the five cent tick spread and in fact it ended up not even being a gapper, right? For some reason it was gapping and then it opened flat so obviously nothing there. DFT 77 million share float at $60 not in my price range CN I t 24 million share flow dollar 6 again what's the what's the potential in this 5 10 cents I mean potential so limited so nothing on that one. Let's see and that we had C AMT on here and this one I said I'm good you know I was like well I don't like it because it's a you know it's it's kind of a bounce off the lows. It's not a very good daily setup, but what I did think is that possibly over 6:30 it might be a scalp, a scalp up to 640, maybe 650 660.

That's kind of what I was thinking just a quick 10 15 cent scalp, a relief bounce a pop off the lows I wasn't expecting it would move back to 7 or anything like that but just a little bounce off the lows and that was really the only one that I saw out of the gates that I thought looked decent. So in the bell rang and it started to pop up and break through pre market highs I was like okay this looks looks good I took 2500 shares at 629 and added 2500 at 6:30 it popped up to 637 and I was like okay you know this looks decent and then it dropped down to 610 and so I lost 800 bucks on it and it was like this. That was that was stupid. You know it was Yes, I had the right idea, but the problem on this one was the daily chart wasn't that great and I knew that I mean I knew that I knew it wasn't in a quality setup.

If I only traded a quality setups this week, I wouldn't have trade, that probably wouldn't have trade yesterday. I wouldn't have traded on Tuesday and it's kind of hard to be a day trader and to sit here all day long and then not trade. So inevitably we end up saying well, if there's no a quality setups then they'll trade be quality setups. If there's no, be quality setups.

well I guess I'll trade a/c quality set up and how far down do you go until you finally say the market is not worthy of my money today? Well, I took this trade and probably shouldn't have doubled, should just stick stuck with the 2500 shares, popped up to 637, was up in a hundred bucks and then you know pretty much just like that down to 620. As it broke 620 and dropped to 6 6:08 I stopped out. but I got some slippage. so a little bit of a annoying trade there on another day.

Though this setup could have given us a move up to 640 650, it's not unthinkable that that could have happened. that we could have gotten to 1015 cent, maybe 20 even 30 cent move. it just didn't work today and I knew that the daily chart wasn't that great and we're in a market right now where we're not seeing a lot of follow-through so it's probably not the best time to take stabs at B&C quality setups. So anyways, that was kind of annoying.

Started the day down 850 bucks. My only goal today was to close the day Green So that all of a sudden made you know my job that much harder now I needed to make 850 just to break even I needed to make 1500 to close the day up. you know, four or five hundred bucks or whatever. it is what it would have been.

So at that point I sort of figured well. I'll watch my Hiya day scanner I'm not seeing anything on there I Saw high-priced names like Alibaba breaking out but it would be very silly for me to switch from trading though. you know $1.00 stock or $2.00 stock to all of a sudden trading $150 This is not my price range. it's not my go to strategy and you know what? Look at what happened here in the first, the first like five minutes this would be like this is honestly like my kind of like what happens to me I'd be like oh look at this the first candle to make a new high.

a little pullback here I'll get in, you know, right here. 147 Next thing you know, it drops down to 144 and that's why I just I Really avoid these high priced stocks because they're not as predictable. Look at the five-minute chart up to 147 all the way back down to 144 and then back up to 148 and then back down to 145. That I mean this is choppy.

These are some huge ranges. It doesn't mean you can't make money on them, but you have to be really, really dialed in on your entry. And these are stocks we're buying. The apex.

Point Buying the breakout point rarely works. What you have to do instead is accumulate a position, add a support level, or short at a resistance level. Assuming you'll be down 20 or 30 cents before you are up, you're just kind of legging into the position because these have such range. So if you are able to buy on a support level and then sell as it moves away from support, you might make a point a point and a half.

Two points on a good trade. So being up or down 20 30 cents is irrelevant. So trying to get in at the first candle to make a new high to make a twenty thirty cent scalp doesn't justify the risk. You can't trade these stocks that way, so you know For me, I just find them to be I Just find them to be difficult to trade and I'm not as successful on them and I don't make as much money on them.

So inevitably I gravitate towards the area of the market where I make the most money and that stocks between 250 and ten dollars. So that was Alibaba Nvidia NVDA Also, huge range on this. you know, squeezing up from 164 to 166 and then selling off here down to 156. So big range on this one and right now my account has 42,000 dollars in it if I want to take a thousand shares of this I'd be using like all of my buying power I mean that's a lot of risk I You know it's just it's a lot of risk.

Not that you expect this to get halted and then suddenly resumed at $90 a share, but if it did, you'd lose 60 grand. So you're putting yourself in a position where if worst case scenario happened, it could blow up your account whereas worst case scenario on MOS y For instance: I got it in this one. this is the the next trade I took I got in this one with even if I took 10,000 shares at a dollar 50 I only took 3,500 which meant my total cash outlay there. you know there are 3,000 times a dollar 50, right? it's it's very low.

well under $10,000 of outlay. Worst case scenario: gets halted drops 50% I can recover from that, right? and almost any trader could recover from that. So these these are more forgiving in my opinion and your risk is a little bit lower if you have a worst case scenario type of event knock on wood. You know that you won't have that.

But in any case, Mo Sy started to pop up and on this one someone in the room called doubt, they said hey, look at Mo Sy, it just popped up and that was when it popped from a dollar 40 up to a dollar 50 and I looked at that consolidation this one minute. micro pullback under a dollar 50 and I was like I can get in this at a dollar fifty thirty five hundred shares I actually pressed the order for five thousand, only filled 3,500 Alright, so got a partial fill I was like that's fine I'll take the thirty five hundred, cancel the rest of the order and immediately it popped up to 164, pulled back, popped up then to 171, 170, 171 Through this move to 171 I was I was holding I didn't sell any of it I just held the position I was up twenty cents which was 750 bucks and I was like you know this is this is a good trade I'm just gonna hold tight on this What I want to do in fact is add to the position on the first pull back the first good pullback. So as we pulled back here down to 164, I said that's what I wanted I'm gonna add and I added 5,000 shares at 165 and then as we squeezed up to 175 I sold the whole position and I made 1,000 I think it was 1022 dollars So thousand bucks and that put me green on the day. So at that point I said okay, well good job you're green On the day you took one trade, this was to me a much lower risk trade I mean my, you know my risk with the 5,000 shares if had gotten filled the full five thousand ten cents.

So five hundred bucks of risk upside potential I move back up to the high of this candle which is 194. So five hundred versus upside potential of potentially twenty-five hundred dollars even if I didn't add and there's no way I wouldn't have added. but it's so upside potential. really more like five, maybe five thousand dollars if it had worked really well.

So that's a ten to one profit loss ratio I Can take that trade In contrast. see AMT What was the profit loss ratio? Well, as it turns out, I was risking a thousand because I was risking 20 cents because this is a higher price stock. So 20 cents becomes, you know, more logical. So 20 cents risking a thousand bucks? Well, what was the potential? My target was 650.

Well, that's a thousand dollars. So that's a one-to-one profit loss ratio that's not as good right back in the mind. Target homerun potential on this I Didn't really think there was any. Maybe once, maybe a 660.

that's you know, $1500 Like maybe. So that to me is just the profit loss ratio wasn't there on this trade for me. I Took it anyways thinking well, you know it's probably going to work I'll just get in, get right out, grab couple hundred bucks and that's a dangerous habit to get into thinking that you can just get in, get out, and get profit because you're thinking about the profit, not about the risk reward ratio, and so on. So I'm not as happy on this trade, but I am happy with my trade on my house.

Why? So that was my those are my first two trades on it. I Got back in then for the first five minute candle to make a new high. Alright, so that was my entry right here at 168 on this one I took 4,000 shares I started with 2,000 at 66 just below the breakout and I added 2,000 as we broke over 68, giving me a 67 average with 4,000 shares. We made a move here up to a high of 80 I took the profit a little early in the move because you can see here.

we popped up to 75 and there was a 15 or 20,000 share seller on the ask at 175 right right here where you see this at 161. Right here you see a 10,000 share bid at 60. Well when you see a 15 20,000 share seller on the ask, you know that's a little bit of resistance. So as it popped up there I said you know what I'm only in at 67 and it was like 72 by 73 73 by 74 I started selling on the ass I got filled at 73 72 and sold the rest at 69 or something like that and it dropped back down to 65.

you know, and that so that meant I would have gone from being up to 300 bucks on it to read and then suddenly it popped up to 80. But I'm fine with the way I traded this made 1200 $33 total on the name, about a thousand on the first trade and about two hundred on the second trade and so 12 33 - 857 on CMT puts me up three hundred, seventy six dollars, and forty-five cents. so that's fine. You know that's a fine way to finish the day.

Could have been a better day if I hadn't traded CA MT and it could have been a better day if Mo Sy had worked out a little bit better. A couple of people in the room were asking me during this second pullback here: would I take a trade like right here for the first. The second five-minute count would make a new high. You know we had the first pullback and then here's the second pullback and I said no because usually what we want to see is that we get the pullback and then we move higher up to like 190 and then we pull back and we move up to 210 220.

We don't like seeing it pullback go up to 180 and then come right back to the place where we bought the first pullback that's showing weakness. so on this one I didn't want to get back in and that was the right decision. Now you know for me. I I Kind of have you know two schools of thought here for the month of June At this point thanks to the red day yesterday, I'm not looking as nice on the month as I hoped I would be coming into the second full week next week.

So there's sort of two things I could do I mean one approach is you know to continue doing basically what I did through the month of May which is to go for small wins. You know, base hit here, base hit there and that gave me $17,000 in the month of May which is a good month. but you know the other approach is when I was going for base hits. a lot of those base hits were B or even see quality setups that I was just kind of like.

well I'm not, you know I'm I'm not expecting anything big I'm not expecting a homerun and my risk is a little on the high side. trades like C IMT You know, just this was just a base hit, it was just a base hit and then it ended up going wrong. You know? So in contrast, the other approach is to really focus on more of the home run setups to trade less. But know that if I get one trade this month where I get in for the first five-minute Campbell to make a new high with let's say 10,000 shares and then I double over high of day and have 20,000 shares and it goes $0.50 in that one trade.

I'll make $10,000 You know through the month months of February March and early April I was routinely having eight $10,000 days. Using that strategy I would probably prefer that less trading but more aggressive on equality setups. The problem has been simply that if I could have done that last month I would have done that last month. We just didn't see a quality set ups.

We didn't see ones that gave us even the a quality set ups. They didn't give us the 50 60 70 cent breakouts at the apex point I Mean there were a couple that did, but they were few and far between. and because they were few and far between I didn't feel comfortable sizing up on them. So while part of me wants to, you know, try to get more aggressive and look for homerun trades I Think that's in part because I want to recover the $5,000 loss from yesterday.

But don't have to remind myself that you know when you get knocked down, the only way to get back up is just one trade at a time. Wall falls down. You rebuild it. one brick at a time.

You can't rebuild it with 15 bricks all at once. Yeah, you might find you know if you're doing. you know, a fieldstone wall. Obviously, building with pebbles is going to take a lot longer than building with big stones.

or maybe building with one. Boulder Sure is nice when you have that opportunity to get a big trade. and when I see that opportunity I'm willing to step up. but the problem was yesterday: I stepped up to the plate to try to go for a home run and you know I ended up way overextending myself on risk and taking a big loss.

and now I've dug this hole for myself that I have to get back out of. So in our behind the trades episode that we're gonna start here in just a couple minutes. I'm gonna be talking about getting out of a trading rut and you know that'll be very topical. Not that I'm really in a rut right now.

I've I mean I just had one red day, but I think it's more about the mentality of how to react to a loss or several losses or a period of you know, three, four, or five weeks of just kind of consecutive choppiness and slowness. So going into next week I've got it Got it written down here to only trade the bull flags and micro pullbacks. I mean basically just any type of pullback is fine. just pullback entry.

which is, in other words, do Not chase extensions. Now chasing extensions works. When you're in a really strong market because you have that feeding frenzy crowd mentality, stock start to squeeze up, traders just pile in, and it works. but it's not working right now.

so I was definitely able to aggressive yesterday. There's a part of me that wants to get that big five $10,000 $15,000 trade I'll get it, but I can't force it. so in between now and when I see that next? really good opportunity I Got to just keep focus on the bass heads. One trade at a time and you know, today puts me up $376 on basically three base hit trades I Don't think any of none of them really had the potential to give me a $10,000 win, but they had small potential.

So if I can focus on the base hits and make sure that within them I take the ones that have the least amount of risk I should be able to get this month back on track. All right. So that's the game plan here. I Feel good that we're finishing the week on a green note.

You know I'm not gonna beat myself up for. you know, for yesterday, if I beat myself up for every red day, I'd be I mean I'd really not be doing well because traders have red days. we have average four to five red days a month I Don't need to go into a deep depression every time I have a red day I Just have to accept that that's part of training. It's a hard part to accept, but it is something you have to accept.

So as we kind of you know, come back on. Monday I'm just gonna keep grinding away on the small bass hits until I can see a trade that justifies me taking you know, the fifteen, twenty, twenty-five thousand shares and getting that you know potential big winner. I'm just waiting for that next parabolic stock right now and I'll be excited when we have it. It'll be an opportunity to have a big day hopefully, but you know right now we're in between those stocks and that may last for a little longer than I'd like.

but I can't change that. So anyways, that's it for today. We're gonna finish the week here with the green trade which is good and clear the slate over the weekend and then be back on Monday where hopefully we'll see some really good opportunities. Statistically, we see the best opportunities at the beginning of the week.

Monday Tuesday Wednesday So Monday Tuesday Wednesday of next week I'm going to be fired up ready to get some trades on. Hopefully the market will be on my side and will give us some a quality opportunities. If it does well, should be a great week next week. Okay, so that's it for today.

Here on the midday recap and we're gonna switch gears and go into our seventh episode of Behind the Trades. Alright, so for those of you watching the recap on YouTube make sure you go watch the next episode of Behind the Trades. Oh hey, I didn't see you there while I was just working on the dream board for my next home run trade. Hopefully it comes soon.

Until then, make sure you subscribe to get email alerts any time I Go live or upload new videos. Until then, happy surfing!.