Alright guys, so time for a midday market recap on today: the 32nd day of the hundred thousand Dollar Challenge! So this week has been a little bit tricky for me. I had a red day yesterday and you know it got me a little bit frustrated. I had a really good Monday and Tuesday than a red day Wednesday of course I was red on Thursday and Friday of last week and lost nine thousand dollars on those two days. So that's was still fresh in my mind this week as I was trying to rally and bounce back.

Now, something that I've talked about quite a bit is how I've been feeling really driven and very eager to get to this this kind of milestone of $100,000 and I think it's encouraged me at times to force trades or to take really exceptionally big positions. bigger trades than I would have taken at any time probably last year and last year I really wasn't thinking about like this mindset of like I needed to get to. you know, a hundred K or 200 K I just I really wasn't even thinking about it. it was just like yeah, having a good week that's great and you know that was fine.

So on the one hand, this goal that I've created for myself to take a 583 dollar account and turn it into 100 grand is a huge motivator and I am I'm really competitive even with myself like I want to do better than I did last week I want to do better than the last time I did a small account challenge and I get really frustrated myself when I'm not at the performance level that that I think I should be at. So yesterday I was a little bit frustrated course Thursday and Friday I was pretty frustrated and you know whenever I have a setback I you know I go into my go into my hole and I kind of think for a little bit my mancave and then I come out the gates swinging you know, ready to attack the market and that's what happened today. I you know came out of the gates swinging looking for a big trade I took I think a total of five trades today, maybe even six. My accuracy was pretty poor.

My first trade on Nov N and I'll give you the the breakdown of the stats: I'm finishing the day up six thousand, three hundred and sixty seven dollars and sixty six cents which on the surface was a good day. A little below the surface is the fact that I was up ten thousand and then I gave back three thousand so or thirty five hundred so you know that's the part that's not as pretty and I'm ending the day on a read trade. So again, even though I had a great day, I'm ending with like a little bit of a you know, a slap in the face so that keeps me. you know every time that happens I get knocked down I could just come back wanting to get right back up and and right back to the top.

or you know, as you know, wherever I would have been if I hadn't had that setback and I would have been around seventy thousand dollars. So now in my mind is seventy grand I need to get over seventy grand today I started the day at sixty thousand and I'm gonna close around sixty Six Sixty seven thousand. So for those of you watching on Facebook you can see the PNL right here so you know Obviously the big picture is that this is a great day. $6,300 is good but it's never fun to have a thirty one hundred dollar loss.

The ten thousand dollar win is nice, but you can see I was read on three out of my or two out of my three trades today that the stocks that traded so accuracy today you know a little bit poor wasn't really where I wanted it to be and you know the fact that I had a big win and a big loss is again the result of being really aggressive on my position sizing. You know when I step up to the plate and they take 10,000 or 20,000 shares when I make fifty cents per share that's ten thousand bucks. That's five to ten thousand dollars and I had twenty thousand shares of See You Are After I added out of the halt. so with a 20,000 share position I made just over 50 cents which was obviously you know a great trade with Psix.

I took a starter of 2700 shares and then I added 2500 and added 2500 again I got myself up over 7,000 shares and on that trade I was up about 30 cents on 7,000 shares. So I was up 2,100 bucks and instead of taking profit I actually was adding because I thought it was going to go higher and then when it all of a sudden dropped down to break even and then down 30 cents you know I just kind of again the way I've done several times in the last week. I just kind of sat there because all of a sudden my position is so big that I know if I just mark it out I'm gonna lose more even more in slippage and then the loss is going to get bigger and that's exactly what happened. and they ended up holding some of Psix through a circuit breaker haul going down.

So obviously you know in this one candle here where we went from 694 actually we were too high as high as 694. I Guess I mean that means I was up with 7,000 shares, 60, 60 cents, 7 times 6. that was up $4,200 on that. obviously only for a second, but my thought was that if we could break through 7, you know we'd be off to the next half dollar 750 and then maybe eight dollars.

Obviously it didn't happen. So I ended up coming back down and happened very quickly. And you can see here on the 1-minute chart how fast you can go from being up to in this candle I mean literally in this one-minute candle I went from being up 50 cents to break-even and I kind of was like okay, I'll hold through this for a second and in this candle we went all the way down to 594 and I was down thirty cents. So and here we are.

you know, coming back up towards the highs, but you know, in any case, a little bit of frustration there on that one. And both Psix and See you are these were both scanner alerts. these were stocks that hit the hide a scanner I saw them on the scanner I punched in the symbol I see it spiking up and I jumped in on Psi X It actually halted before I could get in. so I didn't even get filled until after the Hult it resumes trading.

So circuit breaker halt because the stock moved more than 10% in the last. Basically the last two minutes it gets halted. Resumes: it gets halted at 5:41 it resumes at 565 and then I got in at 590 and it spikes up to 4 643 and it's halted you know and even right there I was up for my 590 average 50 Cent's but only on like 2700 shares. So that's when I decided to add 2500 at 650 and another 2500 at 680 for the break of $7 So why would I add when a stock is going up you might you might ask you know I've got my good entry.

Maybe I should just hold that entry. Well you know this is obviously an example where it didn't work. But the reason and I'll show you see you are are see you are because that one did work. But the reason I do that is because let's say I take 5000 shares at or a little just exactly how it happened I take 2700 shares at 590 and then it pops up to 650.

Now I have two choices. One choice is to sell half and at that point I was up like 1500 bucks. So I could have sold half and adjusted the stop to you know, maybe to break even on the rest or a profit stop. Alternatively, because the stock is showing strength I could add to that position and that's what I did I added at 650.

So now my average comes up to like 620. So my average has come up. but now I have twice the share size. So instead of 2700 shares now I've got like 5,000 shares and my stop is now.

my stop should be have my entry point and that's where I made a mistake here. My stop should be right at my entry point. So now I'm not actually risking a loss and if the stock now goes to 75 or 80, I'll make twice as much in profit on basically no risk because my stop is breakeven. The problem that I'm having is keeping the stop at breakeven.

that's that's obviously the issue that I'm having. and it's You know it's come up several times where I've gotten into a trade, I've chased it higher where I keep adding as it goes up. You know the reason I do this is because look, we've had trades where I add and it just squeezes. you know, straight to 750 or to eight.

and so yeah, even though I my a bridge isn't as good, I've got a bigger position and I can ride this wave that much longer and make you know that much more money. The trade we took on D FF n this was at the beginning of the year, but on this day the stock we got in it like $8.00 I just grabbed 2,000 shares and ended up opening at $15 Now imagine if that happened with a 20,000 share position, you know that that would be $100,000 winner if it happened and you never know when you're going to get in and just be in the right place at the right time and have that type of resolution. Obviously it didn't happen on Psix, but you know it wasn't It wasn't the worst set up. The real problem here is that I should have I should have just hit the hit the bailout button when I went down to break-even You know as soon as I was went from being up a lot and I went red I should have just sold and not even thought about it.

and that's something that I need to work on because this is not the first time that this has happened this week even And so it's something that I need to be mindful of when I get into a trade. It's fine if I want to add, but I'm increasing my average and I can't let a winner turn into a loser I mean that's really the rule of thumb. don't let a winner turn into a loser and that's what I did on this one and it ended up being a 30 You know I mean I basically lost $7,000 from the high of 694 all the way down to the low of 580. The issue here is that you know I can be critical of myself, but the is: this was a very quick I mean this was a period of 120 seconds? you know it's you don't have a lot of time to think and if you try to sit there for a moment and make a decision and think the stock is still dropping and you're losing more and more and more and more you know.

And then you start to get in the situation where, well now I'm in the hole. Maybe I should wait it out, you know I don't I want to make a good decision I don't want to panic out of this trade and you know it can just get. it can just compound itself because you're just sitting there like a deer in the headlights as you know the trains getting closer and closer and closer. So obviously I'm not happy with the way I manage risk on this trade.

If I'd been able to stop out breakeven I'd be up nine thousand dollars today. that would be nice instead I gave back some profit being overly aggressive and this is kind of you know I stepped up to the plate big share size who really thought it was gonna work and then I got stubborn I didn't give up and came back down to break-even I just I felt that it was gonna work and so you know hindsight being 20/20 I should have just thrown in the towel as soon as it broke back below the half dollar probably after moving up to 94 as soon as it came back down to 5 to 650 and broke 650. I should have just gotten out of the trade so you know, a little frustrated with that I See this? You know, getting some momentum again here. Clearly it's very strong.

The one minute pullback is the spot that some traders would take the first one minute candle to make a new high right there for me. You know this kind of the lunch hour I'm down $3,100 on the name I could recoup some of the loss, but I would wait for a really clean set up I Probably clean five-minute to reduce my risk because I don't want to give back more profit from the day. All right. so that's the trade on Psix, the trade on See You Are and I'll pull up Kay BSF Also now the trade on See You Are was in part motivated by the big miss I had yesterday on Nov n Yesterday we had the stock and Ovn when from 550 to $8 and this is a great example of a stock where if you had been adding, let's say you decided you started with 5,000 shares at 550, you start with 5,000 shares at 550 and then you say well, I'm gonna double over $6 So now you've got 10,000 shares at 575, it breaks up to 650 and you're like, you know what? I'll add another 2,000 shares at six or twenty five hundred shares at 650 So you've added 2,500 shares.

Now your average is you know, getting close to $6 and you've got 12,000 shares? You say, you know what? I'm gonna do my final add over $7 and just try to ride this momentum. So now you've got an average of 15,000 got 15,000 shares with an average somewhere around you know, 630 and when this goes up to 730, you're up fifteen grand when it goes to 750, you're up seventeen. It peaked out at eight dollars, and that turns into potentially 15 to $20,000 winner, right? So the thing is, if you started at the very beginning with 20,000 shares, you right away our risking. Let's say 30 cents, 6,000 bucks.

Whereas when you started with 5,000 shares, 30 cents is only $1,500 So 25 percent of the risk on your initial on your initial ad and then knowing that you can add as it goes up, you're not actually really increasing your risk if you're moving your stop up. And then that's how you get yourself into this position where you're holding fifteen or twenty thousand shares of a stock and you're like my stop is a break-even So if if you could have the opportunity to hold 25,000 shares of a stock with a break-even stop, your risk is now zero and your profit potential. if it works, let's say it goes One point. you're 25 grand.

That goes two points. That's $50,000 and this is a stock here that went from 550 up to $8 That's two and a half points. So that's a lot of potential and that's what I thought when I started. when I saw see you are hitting the scanner I saw it hidden two scans and I was like okay this looks like an O VN did yesterday.

It's kind of coming up out of consolidation. It's got a lot of room to go. I'm gonna jump on this and I'm not gonna miss it. So that's what I did See you are starts popping up I got in at my now.

my average was fairly high I started adding at 6:00 sorry at 350 and I got filled 368, 373, 78 and even as high as $4 So I didn't I really didn't get as good of a fill as I wanted. My average was just under 370, but because I took five thousand shares and then doubled to ten thousand and then added another five thousand, it got halted. halted at $4 We resumed and as we resumed I take my final add and we squeezed up to a high of 444. Now I thought potentially this could go up to $5 because that was resistance on the daily chart at the 200 moving average.

So although it didn't get up as far as that for my average of 68 70 has it started to come back down. I took my profit and I got about 50 cents of profit would 20,000 shares. So you know there you go, there's $10,000 This is not a trade that even worked out that well, but it was still a good winner unfortunately. Nov n yesterday you know it was.

It was just a great trade and I missed it And that's the luck of the draw. Sometimes you miss these, sometimes they just completely run without you. They hit the scanners. You know that the hundreds of thousands of people using these scanners see the stock hitting it.

They jump in, it moves up, and if you you know when to go walk the dog or you know fell out of your chair for a second and then got back up, you might have missed the opportunity. I mean it just happens that quickly. So Nov n great example. yesterday's see you are not even the best example to not not even the best trade, but I positioned myself aggressively.

Psix I wasn't able to position myself as aggressively because I didn't get in before the first halt. It was halted here at 541. If I was able to get in with like 10,000 shares or 15,000 before this first halt, then I could have done a lot better. But I was adding out of the first haul getting in at 590.

so not the best average there. And then let's see, we've got some ones mentioned in KBS Eff is getting some momentum. you know there? Look at that from eight to nine seventy so you know. But obviously right, there is a good amount of volatility.

a point and a half. the volume is pretty light on it. If we'd go back to Psix, this one just moved from 550 to 750. So these are the opportunities that you have to be looking for in the market when a stock starts to move, when it starts to hit the scanners, when it starts to get a little bit of momentum, we're in a market right now where those moves have become exaggerated and although some of them become real targets for short sellers, they pop up and then they come way back down.

Others get really good continuation. Like this End Psix and they make that secondary move. Figuring out which one is going to make the secondary move and which one is just going to pop up and fade is something that obviously if I knew I would just hold through the pullback or I would just be accumulating through the whole pullback. But you just don't always know and it's kind of like you have this collective trading mentality where you've got these.

you know, hundreds of thousands of day traders out there and they go from one stock to the next. and for whatever reason, this one is pretty attractive right now. See, you are. Had a headline this morning which made me think it was going to be pretty good.

and you and Nov n I don't even think there was news on that yesterday, but it was fantastic, right? So it's it's hard to understand the rhyme or the reason, and that's where you know. Traders who focus on fundamentals can get themselves so frustrated because it just doesn't always make sense and that's why we focus on technicals. so we just do what the chart tells us if the chart is showing volume, if we've got our scanner alert, we've got volume. We know it's a stock that has potential.

whether it's Nov n its HM Nyg lbs Cu Our Psi X These are stocks that all have potential for various reasons. They meet the criteria of being in play, so when we see those stocks hitting our scans, we look for an opportunity to get in and manage risk. I think I did a pretty good job today on Nov n I managed risk on that even I did trade that one today I was going for continuation on this one I took I think it was right around 5,000 shares right out of the gates I was thinking along over 3/7 sorry 670 because of this consolidation all of yesterday we were holding the 630 level curling up. so I was like okay, okay I'll get in this ride the momentum I get in at 670 I'm up like 50 cents per share as it spikes up to a high of 722 and I was like this looks great I'll probably add over 750 and then look for the move to $8 and I'll end up having 1015 thousand shares with a 720 average or maybe a $7 average and this is potentially an 8 $10,000 winner.

Obviously it ended up rolling over, didn't follow through, stopped out, but I only lost six hundred and thirty six dollars. so on that one I was really good on Psix, you know I think I I don't know I think I just I was surprised at how fast it dropped I thought I really thought it was going to go more and I was wrong, you know? and I need to be more willing to accept defeat faster and not hold on to these so long because I get myself into a pickle. and now this week and here's this is the worst news of the day for many of you: I'm not going to be here tomorrow I'm not going to be trading tomorrow I'm taking the day off I'm taking a long weekend because we don't have any trading on Monday so I'm gonna be out obviously obviously Monday and then also Friday So four-day weekend. So today is also the last day of my trading week and I'm finishing the week with 21 thousand dollars in total profits.

Here's the thing on my winners: I made $40,000 and on my losers: I lost twenty thousand this week. Forty thousand dollars in winning trades and twenty thousand dollars in losing trades this week. So you know that tells you kind of you know where I'm at with my trading I'm stepping up to the plate you know with pretty big share size and you know when it works, it works and when it doesn't, you know it's bad. And this week I had a $4,500 loss I had a $3,100 loss $2,600 loss of $2,400 loss 3 $1500 losses and then several that were smaller than that On the bright side, I had to $10,000 winners or winners that were very close to 10 grand I had a $5,000 winner earlier in the week $2,500 winner and 3 $1,500 winners.

So the winners, you know outweigh the losses. and ultimately, that's what any successful trader looks for. You know I'm not gonna beat myself up for losing 20 grand this week. I mean I'm at a net profit and you always look at what your net gain is.

So my statistics. The interesting thing is that my average my percentage of success has gone down during my Sure Trader Challenge. When I was trading, you know, for the first 24 days of this this hundred thousand dollar challenge, I was trading with Sure Trader So from $583 up to 41,000 and during those 24 days I traded with 87 percent accuracy I was being very selective about what I was willing to trade and in those 24 days I only had one red day on that red day I lost 5 grand But really, you know my accuracy. I had 54 winning trades and only eight losers.

so you know that's something that was really. You know that was really fantastic. Now this week, I actually only traded with 56% accuracy so my accuracy has dropped down a little bit. and it's absolutely a result of trades like Psix today that earlier in the year when I didn't have as much of a cushion I wouldn't have been as aggressive about adding and I would have just taken the profit.

I would have just been like forget it, take, take the $2,000 and be done with it. So this is to say that you know, even if you lined up two versions of me side-by-side to trade the markets, those two versions of me would trade the market differently depending on the our mentality. You know where they're at in the month, where they're at in the year, how they feel on that day. You know whether that orange dog over there is driving them crazy? you know it's it.

There's there's gonna be variables, and so whether you're one of our students that's trying to trade similar stocks as me you know, or I there were three of me lined up. There's always going to be a lot of variables. We all have different risk tolerances and you can see how mine have have changed during the last Burley during the last few weeks that we've been in in: February Even in the last two weeks last week I made $5,000 I was up fifteen grand and I gave back nine thousand on Thursday and Friday the week before that I made $26,000 So I mean it was like, you know I killed it So 26,000 and then you know, five thousand last week and this week I'm up twenty thousand. So on the month, I'm up 58 thousand dollars on the year in total profits I'm up a hundred thousand, Three hundred and Ninety Nine dollars.

And that's in six weeks of trading. And on my small account challenge quote: small Count challenge I'm up sixty six thousand, Six Hundred and Fifty Five dollars. So obviously at the very beginning of the year, there's an extra thirty five thousand dollars. That's because for the first, the first month when I had that really small account, I was also trading in my regular account and holding positions longer.

So I was applying two different types of strategies to the market and that ended up working. I mean we've been in a market where stocks are strong and I'm going to continue to ride this momentum as long as I can. I can't wait to get to the hundred K mark I Think that I mean I could be two weeks away I could do it I Don't think there should be any reason that I won't be there by the end of March but you know we'll see, maybe maybe things will slow down and I'll have to kind of adjust a little bit. You know the reason that I've been making as much as I've been making is because I've been willing to risk a lot and you know I have confidence in my strategy I have confidence in the stocks that were trading I've confidence in these trade ideas scanners that I'm using.

You know confidence in the tools I have and I've been stepping up to the plate so you know the winds have been good, but the losses have also been fairly painful. I mean if I look geez I don't even know if I want to look but since I said it since I just said it now now I need to know I'd like to see how much in total I've lost in in this year because I know I've had some some pretty big losses so let's see that's column. X So I want to see my my total winning trades my total losers. So in total so far this year I have made let's see to do Oh wow.

191 thousand dollars in winning trades and I've taken ninety thousand dollars in losses so you know that's those are some big numbers. But the end result is that I'm up. You know 100 grand before commissions and I guess or after I probably up a hundred and ten before commissions and a hundred after commissions. So Green is good I think there's some room for me to improve as a trader I think that if I saw these metrics on a student's account, I would say that you need to tighten up the losses a little bit that some of these losses are too big and you know in the last six weeks you take I'm saying this to myself.

but if I if I was looking at this as a student, I would say you've taken ninety thousand dollars in losses I'm not saying you haven't had a good month you have, but you got to find a way to tighten those up and so you know for me, you know what I need to do is get better at stopping out breakeven when I get into a trade that works and it's green and then comes back down I Also need to, you know, try to be a little more careful about chasing I Definitely chased Q Bak earlier this week the same way I chased our GSE last month and both times doing that really cost me. So anyways, that's where we're at here. at the end of the month, the end of February I will post my February broker statement. I've already posted my January broker statement for my short trader portion of the challenge and yeah, you know these are real trades.

It's a real strategy. 100% back it up with my statements for anyone that wants to see them. you know this is. this is not something that I don't think almost anyone could do if you get the proper training.

If you learn the strategy, if you start with small size a hundred shares at a time, two hundred, three hundred, four hundred and just slowly scale up as your confidence grows, then you can do really well and I'll be excited to hear how our student John does this week. or that is not this week, but this month I Know that he's he's doing a really fantastic job trading side by side with me. same strategy and he'll probably be approaching at least forty thousand dollars this month. So you know.

and there may be a month where he does better. I know that there were days this week where he was green and I was red because I pushed it a little too hard and you know I got I got spanked and that's just. that's what happens when you get a little too aggressive and I think he's not quite as aggressive as me and that's for him. Sometimes really does pay off.

So in any case, I'm sure John will as he said he was going to do a blog post about his month, so he'll do that. but John and Roberto both trading the same strategies as me. Of course so many of you are as well. You know, really, the goal is just as a momentum trader to search the market.

we're hunters of volatility. We're searching for volatility and volume and opportunity. and we see it almost every single day. whether it's a bull market or a bear market.

I Statistically do better when the market is red. Today we have a red market. Yesterday we had a green market and I lost money so it doesn't appear to be a coincidence since that was the statistic that I maintained for all of 2016 and I'm continuing through 2017 so you know these are things that if you don't know that you are typically red on green market days when the markets up a lot, then you're not going to be able to adjust your strategies. So you have to be aware of these metrics.

So I track all of my metrics I've got them in Trader View. My metrics for the month of January are posted. You guys can look at them and I'll just keep posting them on a monthly basis. you know, just shortly after the end of the month.

Once, I get my statements and stuff like that, all right guys. So I think that's it for today and I hope you guys all have a great weekend. I'm sorry I won't be here tomorrow. you can.

You can bet that I will be I will be missing the market at 9:30 I'll be feeling a little bit lost about what to do, but it is what it is. so I'll be back first thing on Tuesday morning I Hope everyone has a great long weekend and yeah, I'll see you here bright and early. All right. So we're not going to do a free chat next week and we're going to postpone it.

We've got so many new faces in the community I Think we'll just take a week off from that so we'll just enjoy. Next week it'll be a short week and I'll see. Maybe I'll make a YouTube video this weekend skiing with Ross All right so you guys can look out for that. It'll be coming soon.

All right. I'll see you guys soon Have a great weekend. 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 any time I upload new content.

until then. Happy surfing!.