Alright guys, so time for a midday market recap. Today is day 43 of the Hundred Thousand Dollar Challenge and I'm finishing the day up Six thousand, one hundred eighty nine dollars and Seventy Nine cents. So not a bad day at all. Today was a day though where I was feeling a little bit of frustration and I know that I took that frustration out on my trading account and that is a risky thing to do.

You know when you start throwing around big orders it I mean it can work but it can also go the wrong way really quickly. and today I was on the right side of it which maybe is luck more than more than anything. So let's I'll break down. You know what kind of got me into that place today that I traded with frustration and the Daily Watch list.

But the big picture is that yes, today is a green day. tomorrow will open around ninety two thousand dollars. which means I'm around eight thousand dollars from the Horan dollar mark. so March seventh I'm definitely, you know it.

This just goes to show that a couple of really good days can really help you get some big steps forward. Yesterday was 5,600 today's 6100. so you know I'm up twelve thousand dollars. Nearly twelve thousand dollars in two days, you know I just went from being at eighty thousand to 92 thousand.

Two more days like that and I'll be over a hundred. On the other hand, if I go back into a slow period then obviously I'll just have to tread water and that's really what I was doing last week, you know I made money last week mostly because of Friday but I was treading water from February 23rd really until until Thursday the second of March During those, let's see one, two three four five, six days of trading I didn't actually turn a profit I mean those were six days where I dipped down and then kind of came back up. but I was net breakeven so you know obviously that could happen again. I could have a red day where I lose four or five thousand dollars and I'm gonna have to step back I'm gonna have to readjust, reevaluate and then start to, you know, gear up for the next move.

you know, back up towards the highs and you know that's just something that I lob viously have to you know deal with if that happens I know that I'll have another red day. Hopefully I can get to a hundred before that, but knowing my luck, I'll probably go to like 101 and then drop down to like 95 and have to kind of recross that threshold. but hopefully I can I can cross it with some confidence and just you know, really blast off Now when I started this challenge at the beginning of the year in 2016, I made two hundred and twenty-two thousand dollars. So I thought that if I set my goal to take a $583 account and turn it into a hundred grand, that that would be I mean that would be a real achievement if I could do that in all of 2017 I didn't I But at the same time I knew that the hardest part would be building the account up to 25,000 You know last year it took me a month to build from a thousand dollars up to eight thousand.

So I thought well Jesus if last year took me a month to get that far, you know it might have taken me another two or three months to get to 25,000 last year. So I was thinking this year, well, maybe it'll take me, you know, all of January just to get to $8,000 or maybe even part of February and then into March and into April just to get to 25,000 But I knew once I got to 25,000 I could move my money into my speed trader account and I could go back to doing probably 20 22 thousand dollars a month. and so I figured you know the hardest part would be that first leg of the challenge up to 25,000 and then from that point forward I could really, you know, grow at the rate thousand a month. So from that point forward would probably only take you know three or maybe four months.

But you know, since I thought it would take three or four months just to get to 25,000 I was sort of projecting. you know it could easily take eight months. and yeah, maybe a hundred thousand was a conservative goal for the entire year, but I didn't want to set the bar too high I thought it would be. You know, realistic.

Just just kind of put it at a hundred thousand. And and you know, see how I could do so at this point. Right now, you know I'm up ninety two thousand dollars in the small account in forty three trading days. You know, here we are March seventh or whatever it is.

So obviously I'm ahead of schedule by quite a lot at the same time on the month. right now, I'm up about sixteen. I'm up about fifteen thousand, nine hundred on the month of March and you know we're about one week in. so you know I'm not sure that I'll be able to hit my goal or hit the game that I had last month in February of sixty thousand dollars.

I don't think that I'm gonna be able to do that in March I mean obviously if we keep having days like this, I may be I will. but I'm not sure I'm not sure that that's going to be realistic so far. it feels like trading is a little slower this month. so I don't think I'm gonna get that far.

but you know if I can get into the 30s or the 40s, that would be great. And if I can do thirty thousand a month on average this year, that would put me at you know, three hundred fifty thousand, three hundred sixty thousand versus two hundred twenty last year. So you know if obviously, if I keep having 50 thousand dollar months 60 thousand dollar months, you know we will just see what happens. But I'm just gonna keep myself focused on these sort of short-term goals.

they're easier for me to visualize, easier for me to stay focused on. and you know once I hit that goal I just kind of, you know, set my sights just a little further down the horizon and I just kind of keep doing that and next thing you know, you know I look back and realize I'm you know have suddenly turned this into a you know, six-figure account. or or maybe you know, a year from now it'll be seven hundred thousand or something like that. I mean who knows, but I'll just keep working it and you know we'll see.

you know we'll see where where it gets me. So today as I got started I opened up my watch or I opened up my Gap scanner and I really didn't see anything that I was particularly crazy about. So the gap scanners right here I'll configure this historical time for 9:00 a.m. on today to 7th.

So when I was looking at the gap scanner I saw we had n MBL as our leading gapper and I was like all right gapping at 45% Let's look at this one and I saw that it was a buyout. So buyouts trade sideways. they don't They really don't move that much so nothing there. so that one I said nope, nothing there meet meet me.

This one we've traded in the past don't really like to trade. it ended up you know, open and kind of weak and then just selling off. Now know that this one started its move after hours. I Really prefer to trade setups that start there move pre market because when it starts after hours then I always feel like you know I'm kind of late to the party like ever the party's already started and I'm just sort of barely joining in.

so I really prefer to get in these a little bit earlier. Alright so after our trades they usually avoid and that's why eat erm I Was a little skeptical about because it started the move after hours there was another one NTN same thing there was news after hours I think it was earnings so both of these I was a little iffy on it, just was like I'm not sure if I like them and as the bell was about to ring I said look NTN we'll see what it does. it looks interesting but I'm really not sure. Eat erm we'll see what it does.

Maybe there's an opportunity, but I'm not sure and look at this. ET RM In the first five minutes you know drop down to a low of 691 and then spiked up to a high of 813. That's a lot of volatility. and right, there is a lot of opportunity.

right? Anytime you have a stock that moves a point in the first ten minutes, there's opportunity. So even though this didn't have a lot of volume only four hundred thousand shares, it was definitely moving a lot now. I was watching my scanners and I was of course watching the chat room. Now what ended up happening right around 9:15 and this is what got me really frustrated was our one of our servers crashed.

And you know this is something that is. Technology can be just an incredibly frustrating thing. Whenever we or anyone else has this issue with technology, it just gets me irrationally angry because it's something that I always expect to work, you know? I Don't congratulate it when it's working I just feel like you're doing your job. but when it's not working I get very, very frustrated and so you know when the server crashed I saw these emails coming in I realized I wasn't able to connect to my watch list and you know that was obviously very annoying.

So you know all morning our tech team has been fixing that issue. You know we're back up and we've been back up for a while now. but it got me very annoyed. So as soon as the bell rang I was in this state of just feeling really agitated, which is not always the best mental state to be in when you're trading.

You know, trading when you're frustrated. You can start to do stuff that you wouldn't do when you've got more of a calm head. and I think that's pretty much you know what happened to me I felt frustrated I saw HT t GM pop up and someone said hey, check this one out this was on our scanners maybe not as early as 9:00 a.m. it was on a little closer to the open.

a slight gap here and you could see it had a high of 3:20 and I said pre market that yep I like this I'll definitely have it on watch. So I had the level two on this one up. The bell rings and it pops up to a high of 3:45 on that first candle and then it pops up to a high of 351. So volume starts coming in.

You've got about 300,000 shares of volume 250,000 and the first two minutes and so when I saw that I was like okay, this one's starting to move and look at the daily chart. The breakout spot you can see is right here at the half dollar and over that level we've got lots of room. so I jumped in 10,000 shares I just jumped right in 10,000 shares at 350 and then I added had three I added it 364 added at 357 364 and I added at 397 I think I had 16 or maybe 17 thousand shares of this I was being really aggressive on my share size it pops up to 408 and I was hoping that we would continue up towards 450. I ended up coming back down and I started selling at 392 and 389 and 376 and then I kept a position on this with a stop at breakeven and I held that position all the way until this candle.

right here. this big red candle at 9:42 I was still holding my 500 shares or whatever it was until 942, but what I decided to do on this one was over 394 right here. I added back thinking that we would break over the whole dollar and go up too high a day. this was the first 5-minute candle to pull back, first 5-minute candle make a new high and this ended up being a really sharp rejection of that level, right? We popped up to 403 and then we came all the way down to 351.

I mean this was the highest volume candle of the day, at least on the one-minute chart and it was all selling And you know I'm really not sure what caused that I had sold most of my positions sooner I got back in, spiked up, and then obviously reversed and I got stopped out. So I ended up giving back about $500 to profit on HT t GM But in total, I made five thousand, two hundred and six dollars. So a a really solid trade but with fairly big share size now. I Don't think that the risk on this one was as bad because of the strong daily chart because of the fact that it was gapping up.

you know it was. it was the stock that we definitely had on watch for a lot of good reasons, but I sized up in a pretty aggressive way I saw it during that trade I saw ET RM moving na KD this one started spiking up here a little bit later in the morning so you know he was seeing stocks pretty active and the next one was my s Z and on this one I jumped in I did the same thing I traded it twice I traded the first trade getting in at 350 which on this one was definitely extended and I saw this was a gap or you know, coming up to 280 but at that time I was like I think it's too weak on the daily chart. Well, it starts to spike up and so that's when I said alright I'll I'll jump in this it spikes up to 317. it pulls back, it pops up here to 336.

it pulls back and as we broke over 336 I started getting in at 340 and let's see on this one I added at 338, 341, 359, 363 and 351 so you know I was again adding as it was squeezing up and I was I mean I was chasing it I was being really aggressive on this one. but thinking as it broke over this blue line here which was 2 which was 363 that we had potential to gap-fill up towards a 641. which is true. this was a good daily chart and this was big volume today.

so you know I was right on these things. but I positioned myself pretty aggressively I Think something about being frustrated. You know it's kind of like you know, getting yourself kind of shake, shaking up or sort of. you know, into the zone before you go out on on the field and you just kind of like don't feel fear.

You know that fear that I would normally have about having 10 or 15,000 shares and losing 20 cents. It's like it wasn't there this morning. I just was kind of kind of like I don't care and you know the market was on my side and that's good. I'm trading the right setups.

My instincts are still good but today was the day. I was being pretty aggressive I wish I was this aggressive. On a day when you know we had a stock like D Ry S or G lbs. go from you know, $10 to $20 Like you know if only I could be a little bit better about knowing when to you know have the server crash I could really harness this to my to my benefit.

Maybe our tech team can look into that, but you know in the meantime, in today's a day where I got pretty aggressive I did get back in my SZ for the first five minute candle to make a new high, adding it 343 and adding again at 360 she added again 360, 360 and 380. My thought on this was that this was the first five-minute candle to pull back and this would go up to 380, break over high a day which was 378 and go up to the whole dollar of 4. So I took 10,000 shares thinking it would work and then in this candle here we went from 75 all the way back to 37 and down to 27. I ended up losing 1,300 bucks on it.

So you know this was one where I it was being aggressive and I got on the wrong side of it I should I could have sold for profit easily but I didn't so you know could this have been a 10,000 dollar day? you know, maybe maybe if the market was a little stronger and maybe if I'd been a little tighter with my stops on the two losses. but 6200 just about that is is good and you know I think today you know I'm glad to have a nice cushion here at the beginning of the month. Now up sixteen, fifteen thousand, nine hundred on the month and maybe try to tape her back a little bit because you know, a day like today I think could have been a day where I lost five or eight thousand dollars and I don't really don't want that to happen, especially at this point in the challenge. I mean I want to cross over that level you know, without having a really sharp pullback right before that big that big milestone.

So you know this just goes to show you know even traders with years of experience you know could sometimes get rattled and get frustrated and that can impact our trading now. I think I even while I was trading that way, I did have a presence of mind and you know I didn't I was being more aggressive than usual, but I wasn't taking 35,000 shares or something like that. I mean I was still within my kind of max limits I was just going straight to the edge rather than kind of testing the waters a little bit and I've got to be a little bit more careful on that. So in any case, you know, fortunately, trading good setups, the right stocks, you know, with gaffers with gaps or news you know allowed me to have a pretty solid day.

And you know, get myself that much closer to the hundred thousand dollar mark here. So that's kind of where we're at today, as we were kind of closing the opening range, finishing the first hour. the first 90 minutes I was starting to look at the gap scanners I didn't see anything on there at all. There was nothing that was really looking good.

So no trades off the sorry the reversal scanners is what I meant No trades off the reversal scanners today I had a couple that I was looking at but I didn't get a trade. So you know now we're going into lunch and probably a good good time just to shut it down until tomorrow. Hopefully we'll see some good opportunities tomorrow, you know. And as we go into Thursday and Friday and just really keep you know, stacking on those profits here in the first, the first full week of March You know if I can get myself up to $20,000 profit on the month I'm 4,000 away.

that would certainly be a nice, you know, a nice cushion to kind of get to that minimum profit target on the month in the first 8 days. If I can get to a hundred thousand by the end of this week, that would be awesome, but I would need to. I mean this would need to be a $20,000 week. I mean literally.

So I haven't had $20,000 week since let's see since the week of the 13th and it started with two really solid days on Monday and Tuesday 8,000 on Monday 8,000 on Tuesday I lost 1,800 on Wednesday and then I made six thousand on Thursday. So let's be mindful that you know my best trading is the beginning of the week. The end of the week is when I've been having some some big red days. so Thursday and Friday I definitely need to keep that in the back of my mind.

I'm gonna actually look for my sticky note pad my post-it note to write a note to myself to just be a little bit more conservative towards the end of the week and where my notepad left went. But anyways, you know, definitely just try to scale back a little bit going into the weekend. but you know, tomorrow. hopefully I'll be able to get a good opportunity.

a couple good trades and just keep keep grinding away. You know, one day at a time. The most important thing with all of these trades is to keep stops as tight as possible. So with ten thousand shares on this one I lost 13 cents, it's not a big deal with 2,500 shares on HT GM I lost 20 cents.

So my average losers today are 17 cents and my average winners are 26 cents. So even though my accuracy is only 50% two winners and two losers profit loss ratio is solid. This week, my average winners are 27 cents and my average losers are 11 cents, which gives me almost the three-to-one profit loss ratio. Now with a three-to-one profit loss ratio.

if I'm right 50% of the time, I'm going to be a profitable trainer this week. I'm right. My accuracy is let's say right now 57 percent. So it's not about being right on every single trades, it's about keeping the losses small and only taking trades that gave you the potential for that 2 2, 1, 3, 2, 1, 4, 2 1 profit loss ratio.

And these ones definitely had it. And you know, so that would be what we're looking for tomorrow. Same setups as usual. Hopefully we'll see some good opportunities and we'll be able to jump right right back in first thing Wednesday morning.

Alright guys, so that's it for now. I can do a little Q&A here. Yes I'll move the Gap scanner over so you guys can see the Momo scanner it has scroll to the top. Mo Sy is on it I Saw this on it a little bit today.

This one's giving us a little bit of a break out. a little consolidation there under 280 and then nice break from 280 up to 320. Not bad at all. Definitely a good one to watch again.

That's an opportunity. You know that's a stock that's you know up what is up 48 percent right now so you know there's a big window there to capitalize and to generate some serious profits. Mentor class will be at 4 p.m. today.

Yes for Warrior Pro Students will be doing a beginner questions from 4:00 to 4:30 and then advanced questions from 4:30 to 5:00 I'll have the Gap scanners right on screen share each morning. I'm not sure I don't think I'm gonna post the watch list for a couple days just while we deal with a server issue and just make sure it's a hundred percent fixed. So I just want to instead post in the chat room and and not have that extra strain on the servers. Yeah, when is St.

Patrick's Day that's next? Friday So yeah, that should be doable. I mean if I can make $8,000 between now and then I think I should be able to do that as long as they don't have a big red day. So once I hit the hundred K mark I don't have any new challenge that I'm going to do. I'm just going to keep trading in its account and you know I'll just kind of set my new target.

It may be one hundred fifty thousand and then one hundred and you know, 75 or two hundred or whatever. You know, pretty much that's it. You know, just to keep, I'll just keep trading in this account, drawing out money from time to time. but this is the account that I'm gonna trade in for a while.

I mean there's not I don't really have any desire to try to repeat that challenge from five hundred to a hundred grand? I Mean it. It was a lot of it. Was definitely a lot of stress to do that. a lot of pressure, and so I don't really want to do that again, not anytime really soon.

I think I'll just be happy that I've when I've hit that milestone and just kind of keep trading as usual. So my percentage of good trades and bad trades 57 percent this week are winning trades, so 43% are losing trades. You know that's where I'm at for the week right now. I think for the entire year I'm around 70% accuracy though.

Yeah, I mean definitely there's people that are gonna hate on me for you know, making 100 grand in three months I mean whether I did it with a regular-size account or a small account, people are gonna hate on me. The thing is, it's I mean it's really, it's not that hard. I mean yeah, it's challenged, it wasn't It wasn't easy, but the hardest part was really just the first couple weeks. building up my account and building up an account is just a matter of finding good quality setups and scalping.

20 cents here, 30 cents there, taking quick profits. You know, once you've got five thousand dollars in equity I Really think anyone could do it pretty much? I mean 100.5 hundred dollars to five thousand is probably the hardest part, and above five thousand is fairly easy because you know with five thousand dollars, you've got thirty thousand dollars in buying power with sure trader. I mean you've got the buying power to take pretty much every trade I took today except for maybe except for one or two. but I mean for the most part, you could have taken almost all my trades today with a small shirt trader account of five or six thousand dollars.

so you know it's not really. I Mean you know I wanted to show basically that you can because you know so many people think you need a lot of money to be a day trader and you don't. It's not about how much money you have, it's not about having a big account, it's about it's really about just having a strategy and having the skill now. I'm not I'm certainly not using 95% of my buying power right now.

You know, as of right now, am I buying powers like $250,000 So you know I'm not I'm not going in with buying Power hotkeys I'm just going in with 5,000 or 10,000 shares for the most part to start and then I add if it works. Sure, trader minimum is $500 I've been using hard stops a little bit this week. I've been putting them out at basically after I sold pretty much took all the profit that I really wanted I've been putting a stop at breakeven so I did that with HT GM So technically I only had one trade on HT GM because I never went to zero on the position before adding back. So you know I sold whatever 15,000 shares and then bought back to 2500 or whatever it was and then went to zero.

but I never went 100% to a zero position. The easiest thing for me to look at is the five minute chart to look for the bull flag to look for the flat top breakout and you can see a really nice one here on. MOS Why I mean this is a very clean pattern right here under 280 I'm sure I mean a lot of traders notice that, which is why it broke out as well as it did I think Maddy The upper threshold of share size is going to depend on the stock. There are some stocks where you can take fifty thousand shares, you could take a hundred thousand shares, and there's some stocks where twenty thousand is gonna be really hard or ten thousand might even be hard.

so it's kind of stock specific. I Mean it depends on the float, but it really it's a liquidity issue. It depends on the relative volume. Does the stock have a lot of relative volume? You know, Mo Sy has very high relative volume today, but only 1.7 million shares.

so taking fifty thousand shares of this would would be hard, but taking ten thousand or five thousand or ten thousand wouldn't be a problem. I Don't think at all I think one of the problems that I've had maybe recently or definitely today was just kind of adding into the squeeze. Now that works well when you have a parabolic stock. When you have a stock that goes from you know $3 to $4 and four to five and five to six, you can add at every half dollar, you can add a little at three, a little at 350, a little for a little at 450, a little at five and just kind of keep adding.

and what you end up with is a really big position with a good cost average and then if you get that final, just blow off top where it just sort of goes like straight up to seven or eight dollars. with that good cost average you're gonna you're gonna crush it. But I think I've been applying that to stocks that maybe don't really have that potential. so I just kind of add and add and add and I'm essentially chasing it.

But as long as I start with a good position, a good core I think it. You know for the most part it's been working out well. HCG Ama gave back some profit staying with my SZ but you know my stats are showing that it's working. So yes, I know that I do chase stocks.

A lot of people you know might criticize me for that or say you should, Just you know, always buy on the pullback or buy at the low. The problem is, you've got a lot of stocks that go you know from zero to sixty that you know or not in terms of dollar, but just in terms of like, they just explode and then and you never really get a clean pullback like I know we've Nov and when it went from $4 to $8 we never got a clean pull back on that. So because I hesitated I wasn't willing to jump in I lost. So you have to think, well, look, if I'm gonna just kind of jump into, you know, just jump right into it even though it's halfway up the run.

I'll do it in a controlled way. So think of rock climbing. Most people are gonna say, well, you know you should stop. You should start at the bottom of the of the wall, right? And yeah, that makes sense.

Start at the bottom of the wall, start at the bottom, work your way to the top. But let's just say, for whatever reason, you know you kind of stepped out and you're you're half. you're halfway up the wall. Well what do you do? Do you start, you know with a slack rope that's gonna let you fall all the way down to the floor.

No, you get you go out halfway on the wall, but you have a tight rope and that's a stop that? That's exactly what a backstop is. So you're like yes, I'm getting out and I'm already up 15 feet you know, off the ground. But my stop is, you know, five feet below me. So maybe this is riskier than starting at the bottom.

but I want to get out I want to do this I want to participate I'm gonna jump on it and I'm gonna have this tight stop and that's basically what I do on my trades. you know I get in. Maybe I'm getting in a stock that's already extended. Maybe I am buying a one-minute pullback, but I'm getting in with a fairly tight stop 20 cents.

You know, average loss this week is 11 cents. Average loss you know for all of I mean if I'm just scrolling back here like months is 18 cents. So you know I'm getting in stocks within eighteen cents top on average. That's fine to me with the potential to go 20 cents, 30 cents, 40 cents or more.

but you know anyways. I mean that's just my two cents. Obviously, if you're a trader that prefers to, you know, trade a little bit slower. that's fine too.

You know this. MOS Y Right here is a decent 5-minute set up and I'm gonna be actively trading. but I'm definitely gonna be buying 5-minute setups and I'll trade one-minute setups when I see them. but I'm only gonna really trade one-minute setups on a stock that's either a former runner has a catalyst or is on the gap skin.

You know, that's kind of my men criteria, but HTT GM and my SZ both met that, which is why they are worth jumping into. Alright, so with that I'll let you guys enjoy the lunch hour and we will jump back in first thing tomorrow morning. All right guys! I'll see you in the 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 any time I upload new content. Until then happy surfing!.