Alright guys, so time for a midday market recap. We're gonna go over the trades from today. Now today today is tricky day. today was February 1st the beginning of the month.

It was also in the shadow of the worst day of the year which was yesterday for me and you know this week has been tricky on Tuesday Err, let's see it was on Monday I had the biggest winning trade the biggest winning day of the year I made about $16,000 and then yesterday I lost 13,000 So my biggest winning day and then my biggest losing day back to back I think that that is the type of thing that is really common for me. that I will have a great day and then the next day I try to you know repeat that same success and it just doesn't work and I end up having the biggest win and the biggest loss on the same stock. It was true last week on CA TBH I think it word it was it lat I Can't remember what it was last week, but it was true last week on FF HL that's what it was and it's gonna be true this week on our GSC And you know I think the cause is that that one stock is the most volatile so it has so much potential to either do really well or do really badly. Fortunately, today I was able to stay focused I took I traded three stocks and I made four thousand, three hundred and forty three dollars.

which puts me back up above twenty thousand dollars. I Opened today at sixteen thousand Five Hundred and Ninety-six and you know all yesterday I was I was feeling annoyed with myself because I had put together such a fantastic month for the month of January and then on the last day of the month you know I screwed it up and ended up you know, giving back a bunch of profit and it's just a very annoying thing to do. it's when you have your goal and then you give it back. Very very frustrating.

So you know in any case, today I was able to rally and and have a good day and I was being aggressive today. I was mindful as I was sitting down this morning that I would be feeling that revenge trading that I'd be feeling a little bit of a real aggression to try to get back what I lost and then I had to be careful not to allow that emotion to get me into a bad trade. On the other hand, that emotion can help me in a certain way. be more aggressive.

It's like getting pumped up before a game day and you know getting yourself into the zone and really ready to attack the market is not a bad thing. and so if you imagine like the day this or last November where Dr. Ys went to $120 or wengie lbs squeezed up, it's the day before that I had had a red day, then that day where the market went insane I would have been aggressive and I could have just you know, destroyed it. I could have had an amazing day because my mindset was just to get in there and be really aggressive so you can harness that emotion in a positive way as long as you channel it on only taking good quality setups.

The problem is that as the beginner trader, it's really easy to let that emotion get you into anything where you just start trading Apple and you know Facebook and Twitter you start totally trading outside your normal zone and then you just end up giving back profit. So I'll show you guys who are watching on Facebook This is my PNL for the day: 4340 $3.62 commissions today a staggering three hundred and fifty dollars. I mean really, really ridiculous and I'll be the first to admit that I may have over traded a little bit. I was taking bigger sighs I Started on Hm NY with 5,000 shares and then I added 5,000 So I had 10,000 shares of that one.

Which means basically that trade between one by two buys actually. I bought in twenty five hundred share blocks so it was four orders. that's 16 to buy plus scaling out I think in four pieces, maybe even been five is forced. That's $32 right there on that one trade in commissions.

But then I have ecn fees and those ecn fees are based on every share that I trade. so it adds about $40 to the 10,000 shares to buy it and another $40 to sell it. So that's $80 in Ecn fees or maybe $60 in ECM fees plus the $35 It's like a hundred dollars in commissions for that one trade. Fortunately, on that first trade, I was able to make about $2,800 and then I got in for the second pullback or the first pull back for the second trade and I made another 750.

So Hm and why was a good trade and then I took a trade on Plum PLM 5000 shares, eight cents, four hundred dollars, and eat. Erm, four thousand shares, seven hundred and seventy nine dollars, about fifteen cents or or 20 cents or whatever that was, so you know. Generally speaking, I was a little more aggressive today, but I was only trading setups that I felt were strong and as I was saying in the room, there were a couple of opportunities to just jump in stocks that were running and I said no I've gotta wait even though I would have actually made money if I had jumped in it I said I have to wait for the first pull back because I I just can't I just need to have a good day And my goal today was I had two goals. The first goal was to just close the day Green I mean it just closed the day Green just kind of like clean the slate and then The second goal was to only trade a quality set ups and the hope was that by only trading a quality set ups I would end up having a descent day and the other hope was that we would have some a quality set ups.

So let's break down the trades as I took today. I'll move this out of the way. So first trade was Hm and why this was gapping up nine percent on news. There was a headline that was on market watch so saw the gap, saw the headline and you can see this pre market how this was consolidating right under five dollars.

So I'll show you this chart here consolidating right under $5 and so I looked at this and I was like this is what I wanted our GSE to do yesterday to hold under five or well, it was a hold under six in that case. but you know to hold under this level. So as soon as the bell rang I was like I want to get in this and I'm gonna get in under five and ride it. So right here is the break over the 200 moving average right down here and I knew as soon as we broke over that level we had potential.

HMN Why is a former runner so stock that has a history of making big moves? It also has a low flow so when we have an imbalance between supply and demand, it can move very quickly and there's a day here where we went from $5 to $13 You know it's not uncommon for this stock to do that type of thing, which you know is one of the reasons it's on my watch list as a stock to keep an eye on anytime its gapping up because we have these opportunities all right. So market opens and it ends up actually opening just a little lower. It opens and a surprisingly low. It opened at 72 and so I saw that and I was like you know what, that's fine That just gives me a better opportunity to get in this trade at a lower price.

So let's see I got in at to do just look at my orders here. So I started adding at 77, 80, 85, 89 and 90. So I added into that push and then we got the pop over five up to 525. So we got this first opportunity here and then this this right here is the same thing we saw yesterday on.

we saw it on two stocks yesterday I can't remember the names right now but that same push right out of the gates. We even saw it a little on our GSC I just got in it too high. All right. So we popped up here, we pull back, had the first trade here I got in I got out I got back in down here and then sold again through this push up to the high of 533.

So two trades right in here and I thought this one had the potential to really open up today and six dollars. It was kind of like my until Target six dollars above their 650 above their seven 7:58 but it just couldn't really get the the momentum so it didn't end up really working out as well as I wanted. Despite that, I still made thirty five hundred dollars. so closed up that trade and then I'm looking for the next one.

Dr. Ys was on my radar because it was gapping up, but I expected it would be choppy and that's exactly what it was. The biggest candles of the day are all red. Big red Big red, Big red.

three huge red candles. Not an easy stock to trade at all. so no trades on Dr. Ys.

I said i'm gonna leave it alone even though pre market this looked like a decent flag right in here. I just felt like it was too risky and yesterday it traded 165 million shares of volume which is pretty crazy. Alright, so let's see. Then we had Pul M and P LM just popped up on those scanners out of nowhere.

it squeezed up from 220 up to a high of 283 and I feel a little annoyed on this one because my entry let's see I jumped in this one. There was a we had the high right here. first candle to make a new high I got in on the this red candle as this red candle dropped down I got in at 65 and 67 and 70 and then we popped up here up to 80 and then kind of dropped down. we popped back up to 80 and that's when I sold I was like alright, this thing's not holding 83 was the high and there was a big seller.

there's a like a 20,000 share seller sitting at 280 so I got in, it didn't hold I got out and then I wanted to get back in but I was nervous because of that big seller at 280 we came back up to 280 here again that seller was still there, we dropped back down and then we came back up here and we kind of broke through that level and that ended up being the first five-minute Campbell to make a new high, the break over 280 and that moved back up. So I'm a little annoyed that I missed that pullback opportunity because I could have made another maybe 500 600 dollars on that. but in any case, I made 400 on it and was content with that. So at that point I thought I was probably done for the day and I was up around 3400 or $3500 and I was like, well, you know, that's probably it.

We're kind of getting into the lunch hour, getting close to lunch, and just not seeing a lot and Dr Ys is selling off so the shippers are selling off as well. so maybe this will just be be it for today and then eat erm spiked up. so eat erm is another one of those stocks history of making a big move very recently kind of down here and curling up. Today was the first green day after a couple red days and when I saw that I was like okay well if this can break above this moving average we've got lots of room unfortunately wasn't able to do that but what I did do is I jumped in and rode that momentum.

So let's go back here. This is the one where I was tempted to buy it at 670 which was let's see where was it I was tempted to buy it yeah kind of like right in here at 660 as soon as it hit my hide a scanner as soon as I saw hitting that scan that I was like this looks good I want to jump in it people in the room were mentioning it but I said no you need to wait, wait for a good opportunity so it ends up popping here up to a high of 695 and then pulls back and I was like okay this one-minute pullback is my opportunity to get in. So I got in right there at 695 and 4,000 shares rode the momentum here up to 726. pulled back, popped back, up over 726 734 and we went all the way up to a high of 778 and then up here at 780.

we had a 40,000 share seller and that guy kind of put the put the cap on the move today during the 5-minute consolidation. I Was watching for a possible pullback here for a 5-minute setup, but what I said is that we've got one doji candle, two doji candles, Three doji candles. That's showing us that there's a lot of indecision that there's a lot of kind of tug-of-war and I said I don't think this is going to be a good one for a move up I think I'm just going to leave it alone and I'm glad I did because it ended up selling off. So today, Ivory cooped all but about a thousand of my loss from yesterday and that's good.

and even with the loss yesterday, I was kind of like, well, you know I guess I gave back most of my profit from Monday but you know I was still green on the week, so you know as of yesterday, let's see I was between my two accounts I was up about three thousand on the week, so you know this gives me a nice boost forward and you know for that I'm happy. I Also traded my speed trader account today, but I didn't do as well I only made twenty two hundred dollars I broke even on plum made eleven hundred on Eat erm and made 1300 on Hm. NY So I didn't make as much there because I was looking for bigger moves and like it. we just didn't get the bigger move.

So total profit on the week right around ten thousand dollars and that includes a thirteen thousand dollar loss so that's good I guess I mean would rather be a little higher than that, but you know what? this is part of the deal of trading. It's really hard to not. kind of. You know, count your your chickens before they hatch or whatever because you see yourself making these gains and you're like oh my accounts up up up it's getting higher and higher but you know that it goes up and it has to come down so it's kind of like you just you have to budget for that.

And one of the things I was thinking about last night is the fact that one thing I talked about during kind of the I guess spring or summer when the Deadliest Catch is on is the fact that you know having a day where you give back thirteen thousand dollars it obviously is not fun. it's nobody enjoys that I certainly don't enjoy it. but I kind of think about it the way I watched The Deadliest Catch so you know when you're watching The Deadliest Catch Those of you who have watched the show on the Discovery Channel it's the crab fishers fishermen up in Alaska It seems that sometimes they when they set their crab pots near the ice pack, the ice pack is always kind of moving. When they set their pot near the ice pack they can get really well.

They can do really well. they just full pots and they can you know collect a lot of crab and basically you know reach their quota really fast. But there's a risk there with putting the pots that close to the ice pack. and I would sort of say that day one Monday was me putting the pots really close to the ice pack.

I Went picked him up $16,000 and it was a big win and I was like set him back. Let's do this again I set him back and went back in for our GSC day - and that's when the ice came over the pots and instead of being able to walk away with profit you know I'm trying to minimize my loss. and what happens when the ice comes over their pots? It kind of, you know, pulls the buoys, it buries the buoys and they can no longer. Sometimes they lose all their pots and that's an example of kind of pushing your luck getting a little greedy and you know it is what it is.

so at the same time it's kind of part of business. You know they know from time to time they're gonna lose a pot and they're going to have one that breaks or the line breaks or whatever it might be. and there are times where they for whatever reason are going to decide to set back in a place that they think is going to be really good and it all. they all come back up empty.

You know something changed or they set back and then they got greedy, the ice came over and you know there you go. you end up with a big loss. and so I think that's kind of a similar to what happened with me on Monday getting really aggressive on our GSC really nailing it $16,000 and thinking that history would repeat itself and that we would see the same type of follow through on our GSC on day two that we saw last year when it had a two-day breakout and it went like 400% I Really thought it looked almost the same that we would have that same follow-through and maybe we would have if it weren't for D our YS catching so much of the attention yesterday. but I you know, ended up getting overly aggressive and maybe a little greedy.

push my luck and you know I gave back some profit. So a lesson learned yesterday and today I was able to regroup I took good quality setups I didn't chase I didn't have the issue with getting partial fills and then buying much higher I took my entry, took my trade, had my stop and able to walk away now with $4,300 so you know that's good I feel really good about that. getting to 25000 and this small account has been something that is really important to me. I Really want to get there as quickly as I can and the risk with trading aggressively and using margin and you know, kind of like stepping up and trying to swing for the fences on every every time you're up.

at bat is that you will have some some losses. So when we break down my P&L for the month of January we'll see it's steady up, steady up and at the end we had some big green days and then I had no red days until I had one giant red day and I think that's kind of the luck of the draw with being this aggressive. it's gonna work until it doesn't and then it's gonna be painful. but fortunately having accuracy in the you know, low 70s or whatever it is, we'll find out when I export my report or do my trade report.

but unfortunately the losses have been kind of few and far between and it's been the result of focusing on a quality set ups. All right. So that's where we're kind of finishing today. I'm hoping Thursday and Friday I can have continued some really strong trading and help build up this cushion on the month.

One of the things that I've struggled with in the past and I've talked about. this is how in the beginning of the month I can get a little overly aggressive and I can't write in an attempt to try to get myself into the driver's seat as quickly as I can I sometimes get too aggressive on the wrong setups and I was very mindful of that this morning that I was I wanted to be aggressive. that was okay, but I could only do it on the right setup. so I did it and it was a good day and hopefully tomorrow and Friday we'll see good quality setups as well and I can inch closer to $25,000 so that's the the spot that I'm really excited to get to.

You know, once I'm over that level, I can switch back to my Speed Trader account and not have to try to trade into account. so I can just trade in Speed Trader I'll have to sort of. I will have a slightly different strategy for the this challenge even though I'll be in my Speed Trader account. I'll have a slightly different strategy because I'm not going to want to take as much risk.

My Speed Trader account right now is a 60 or 55 thousand dollars so I can afford to be a little bit more. you know, risky with that one and it'll all have to. You know, taper things back again, but that's that's okay. So hopefully I'll be able to get started in that big account within the next couple weeks and make my way right towards the next threshold which I guess will probably fifty thousand dollars and then 75 and then 100.

All right guys. So let's see I want to make sure we answer any questions that you guys have for those of you watching on Facebook or who are gonna watch the recap on YouTube You can post comments and I'll make sure we answer them. I Started the year with about 27,000 28,000 in speech writer so I'm up about a hundred percent. Let's see how many trades do I take it once Orlando I only take one trade at a time.

very rarely. Well, I you know, do more than that I just feel like if I'm taking 10 trades, each trade has 10% of my focus. You know it just divides my attention I do better if I can focus on one at a time. and you know, obviously if I have 10 trades, I'm gonna be focused mostly on one.

So I'll probably have you know 80% of my attention on one and then very little attention on the other ones. which isn't really a good strategy for me for the way I trade. so one at a time one Trey get in, get out, and then for the next one now Archie SC for a swing trade that's not one that I mean I would be sewing trading now I might have considered it for a swing trade, if I was a swing trader for the first daily candle to make a new high, but we got that. such a strong resolution right away.

I don't know I wouldn't still be holding it so Mohammed Yeah when you see on the level on the time and sales you can see here, this time in sales has read those are orders that go through on the bid. Green is on the ask and white is usually an order that goes between the spread. all right, so it's neither on the ask or the bid. it's somewhere in the middle exit strategy on each.

erm. Well I Wanted to see it get up to eight dollars and when we saw that heavy seller at 80 I was kind of like this is going to be an issue and we dipped down. we came back up. We tried to retest it I was ready to even add to my position over 80 but we couldn't We just didn't have enough buyers one to buy up that order.

So I threw in the towel. So Graham in terms of getting the best entry, you know the safest entry is almost always going to be based on the five-minute chart and so if the best entry to you would be the safest then you would focus on the 5 minute. If the best entry is one that gives you the most opportunity to profit then you may want to use more of the one-minute chart. and I use a combination of the 1 minute and the 5 minute.

I Use the 1 minute at the open and in the first 30 minutes because of the level of volatility. I Know that there's opportunities you know right here where you see this candle go from 220 to you know, 3 8, 283 I Mean there's a lot of volatility there. There's a lot of opportunity for profit, but you have to get in and be quick. All right, let's see, but if you're having trouble with accuracy or chasing then I would focus on the the 5 minute time.

Alright guys, so again, if you have questions, put them in the comments I'll make sure I get those answered and we'll be back at it first thing tomorrow morning 9 a.m. this afternoon at 4 p.m. Jeff is gonna do a warrior procession so he'll be talking to you guys about his swing trades and some of the option trading strategies that he's using. So a warrior pro students, you can stay tuned for that and everyone else.

I'll see you first thing tomorrow morning. Let's be honest, if you made it this far, you must have really enjoyed that video. So what's stopping You subscribe right here and get email alerts anytime I upload new content. until then.

happy surfing!.