What's up everyone? All right? Well here we are: Day five of the small count challenge and I'm up three hundred and fifty three dollars which is awesome, but you know what? Today is the first day that I'm really feeling a little bit of FOMO I'm feeling a little frustration. yes on day two I finished the day down twelve dollars and that was disappointing no doubt for a second day in the challenge having a red day but I stopped out really quickly and that day you know I I was green by about 75 and then you know gave it back and I guess I was feeling a little frustrated. but I feel more frustrated today at least I feel like I do. And so I've got a couple of rules in place that tell me if I have one of those things happen I have to stop trading for the rest of the day and I had one of those things happen today.

The three rules. The first one is if I'm down more than my max loss on the day which I currently have set at $100 which is 10% of my account. So if I lose 10% of my account one day I have to be done for the day. Now when I first started, that was a $50 daily loss.

but now as my accounts gotten bigger, its $100 that didn't happen fortunately, which is great. But the second rule is that if I give back more than half my daily profit, I have to walk away. So if I'm up 400 and then I'm up only 200, I've got a step back. That didn't happen either, but what did happen? Third rule: if I have three read trades in a row back to back to back I have to take my hands off the keyboard and I'm done for the day.

and if I keep trading, what happens if I break a rule I gotta cut one inch off my hair and I really don't want to do that so I don't want to break any rules I put a punishment in place that you know I'm willing to stick with and so I'm not gonna break that rule I have three red trades net and that's where I feel a little frustrated. So what ended up happening today was in the first like ten minutes of trading. I made four hundred and sixty seven dollars. It was the best day that I've had in this small account challenge.

I was trading in my small account and I was trading in my main account in my big account I made four thousand nine hundred dollars. so trading two accounts at the same time, both of them up. you know, almost the same but one times ten because I can trade bigger share size and then I ended up taking a couple more trades I took one more trade on a breakout and I ended up losing on that trade. So and my small account I went from up 467 to up only 440.

So I lost like $25 and I was like okay, whatever, it's fine. one loss, not a big deal all right. So the stock does the false breakout but then it holds up. it consolidates.

So then I got back in when I thought I was gonna break out again I lost again. they lost about $35 on that tree and then I was up only 410 or 411 and I was like okay, that's not great but I've only give him back $50 I haven't hit any of my thresholds for needing to walk away and the stock still looks strong. It had the big move right out of the gates I had a big move on Friday same stock I trade on Friday so I'm feeling good about it All right. So it consolidates a little longer.

it's holding up coming back up to the view app and I get back in and then it drops really hard. a false breakout and when that trade I lost $60 So I went from a 410 to up 353. So three red trades. Now obviously on those three red trades I lost about 115 dollars but not including commission.

So in each one of those trades, I press the Buy button and I press the sell button. All right. So buy, sell, and then times three. So at least six six orders, six orders at $2 apiece is $12 in commission plus the ECM fee.

So really, I probably gave back an extra 120 or 130 off my highs and that's what's giving me a little thumb. I'm feeling a little frustrated and if the stock ends up ripping later this morning or this afternoon, I'm gonna feel like wow, Man, you know I had the right idea, but my timing was wrong and that's part of trading is you know that's gonna happen and being able to sit with that emotion and not act on it right? I mean if I cuz right now I could act on it I could say you know what I'm gonna keep trading. Yeah I've had three read trades but I'm gonna take another trip. but what happens if I do that and then it lose another hundred bucks and now I'm down lonely I'm up only 250.

then I'm gonna start getting really angry and then I take another trade. Oh all right, well, I've got to get myself back up 500. That means I've got to take a big position and get a big $250 winner. And is that really gonna happen at lunchtime? Probably not.

So I take that type of trade and then I'm breakeven on the day or I'm right on the day now. I'm even more frustrated, you know? and if you go down that kind of path, the losses start to snowball, they get bigger and bigger and your emotions start to snowball. and they get higher and higher and you start to become really impulsive. And of course, you know later that night when you step back, you'll be like man, what was I thinking why didn't I just stop when you know I had those three losses and I was at least still up $350 right? Hey, let's step back and get some perspective here.

it's still a green day. Well the only way that I learned that was by having so many snowball days. they started putting rules in place like cutting off an inch of my hair that you know kind of snap me back into into shape. So anyways, this is where I'm gonna sit today.

I'm I'm You know it's a little hard in this very moment right now since I just stopped trading to feel super grateful about the day cuz I feel I'm still feeling a little bit frustrated that I had those three losses. but you know, once I step back and I'm out of my office later this afternoon or whatever I'll feel I think I'll feel like alright, you know here's a good day: $350 It's a great day on a thousand dollar account and you know that's gonna mean the accounts up to 1300 or whatever tomorrow. I'm not trading tomorrow cuz I'm flying to Miami but you know I'll be back at it Wednesday Thursday Friday and hopefully we'll have a good three-day you know streak there and can continue this growth in the small county, right? So anyways, that's it for me. As always questions comments, leave them below I Hope you guys enjoy the recap and I'll see you guys on Wednesday What's up everyone? Alright, so we're gonna do our midday market recap here for this morning and break down the stocks that I traded well actually only trade one stock I traded el MPX the same stock I traded on Friday Friday I made three hundred, four hundred and twenty seven dollars on the stock today I'm up three fifty three.

So I'm gonna pull this chart up here LMP X This morning was on my Gap scanner. it was gapping up. Again, it gapped up on Friday it squeezed out of the gates on Friday from six up to or from 580 up to a high of 659. It then pulled back.

Consolidated this morning was gapping up to six eighty so all-time highs it's a recent IPO pulled back a little bit out of the gates. it started to squeeze up I jumped in at 675 as I started to see buyers coming in and we got that quick surge up to eight dollars and 85 cents. Two dollars a share which is awesome I mean really a solid breakout. So I'm happy with this one and you know overall it's it's been pretty good.

I was up as I As you guys know, over 450 dollars on the trade and my first first couple trades. So let's pull back this chart down to ten seconds just so you guys can really kind of see what was happening here in the first. like three minutes of the day when the stock was really surging up quickly. Alright so um the bell rings and the stock starts the day just kind of sideways as you can see right here it was just sort of not doing anything and then all of a sudden on this candle volume comes in and so I bought at I think it was six seventy five or six eighty anticipating the break of the pre market.

hi we got the break of the pre market high which is awesome and then we got this surge here up to 750 on that breakout I took my profit I got out of the trade you know locked up the profit and then on this little micro pullback I added back right here. so I added back right there. So this first trade was about I don't know it was a hundred something dollars. so till my profit got back in right here it surges up to eight.

it then pulls back I then got back in right here for the break over eight. it surges up to eight thirty on this trade I got back out of it flat. It ended up being basically like a I don't know ten dollar winner because it popped up and then pulled back. but then as it surged back over eight thirty I got back in right here and it hit a high of 885.

it then dropped quickly, rejecting that level, consolidating sideways right here it pops back up I Took another trade for this break right right at this level here which is sort of the breakout spot. It didn't hold that level and then it dropped back down. So as of right here which is 933 I was up 467 dollars I had booked the bulk of my profit. then I continued to trade it and the spots I continued to trade it I watched it consolidate down here at this level just above 650 and as it started to bounce right here I got in for the break over seven.

it pops from seven up to a high here of 747 which is awesome but it didn't hold that level. it then drops back down. alright so on that one I got stopped out I was looking for it to rip over 750 and make a move up towards 8 and then back to high a day and that's not what happened then I got back in right here at 712 and stopped out down here at set about 705 so that was my true. that was another trade there and then I got back in right here as it rips up to 7:30 I'm thinking now it's gonna break 750 now we're gonna make this move up towards 8, maybe higher and again it drops and so I stopped out right there and at that point it had three law and I was like I am done for the day and so as I see a PTO hitting the scanner.

now all I can feel is a little bit of FOMO because I've hit my my max my my one of my rules which is you know three read trades and I'm done for the day and so even if this stock ends up ripping the $15 you know my rules state that I can't trade it the all-time highs. It looks like up here round 457, you've got some news out on it. The stock is moving up. You know it.

it's a 41 million share flow. It's a little on the higher side in terms of flow, but it's clearly moved quickly. This is sort of one of those days where I really just have to step away from the computer and not sit and watch stocks continue to run. When I know that I've kind of hit my limit because I'll just get myself more and more frustrated and I'll completely lose appreciation for the fact that three hundred and fifty three dollars is still an awesome day.

I mean that's a terrific day. I should be very grateful. Very happy for that, you know. But the initial feeling is well, I was up for 67.

so can I make back one hundred and ten dollars and hey, on a PTO maybe I could jump in this thing with you know, five hundred shares if it breaks over for and grab a quick you know 20 cents per share. and and that type of thinking is thinking about profit. that's trading your P&L that is not trading the market that's in front of you and I suppose at the same time you know trading. You know using rules like oh I'm down more than a hundred I have to stop trading or I've had three losses I have to stop trading.

You know is also maybe trading your P&L a little bit. but I think it's okay to trade it from the risk side but not from the profit side in the sense that well, you know I have a certain amount of money here I can't afford to just keep you know Trading: Okay, you know if I'm if I'm losing money I have to stop. That's just a constraint of your account whereas telling yourself that you should keep trading to try to make back what you lost. you know the market just may not be conducive to doing that and it would just be too risky.

So I'm gonna walk away. $353 I Had 1036 in my account this morning after commissions today. I'll probably have 300, you know I obviously traded quite a bit today and I over stayed my welcome with those last three trades. So those Commission's are $2 for every trade plus the Ecn fee.

It's just part of the deal right now. With a small account, these commissions are going to be a bigger piece of the pie, but you know it is what it is. I Did trade in my large account today as well and that account was up $3,800 so you know, made about ten times more using obviously much bigger share size. This account my biggest share size was 500 shares and most of the last couple trades I was taking were 200 shares.

So I was scaling back my share size in order to prevent having a big loss. But yeah, it's a it's a green day so I'm not gonna be trading tomorrow tomorrow I'm flying to Miami and then I'll be in Miami for our inner Circle seminar on Wednesday Thursday and then trading with our team on Friday. And yeah, so I'm gonna be out tomorrow, which is kind of a bummer, you know. I obviously don't like missing trading days, especially when I'm in the middle of this kind of small account challenge.

but it just it. You know it is what it is and so I'll be. you know. back at it on Wednesday morning and the nice thing is that now I've got a little bit of a cushion so you know I'll have about 1,300 dollars in the account on Wednesday morning.

and since I'm not going to be in my comfort zone obviously I'll be. you know, in at the conference room in Miami and we the audience not just streaming but also in person I'll probably want to be a little bit more conservative on my share size and not try to, you know, be a hero and hit a big home run. But if I can make another $50 or $100 and just continue to have slow growth, then I'm totally happy with that. And when I'm back in my office here and you know, well, it's actually I'm not gonna be back in my office for two weeks.

But you know, in any case, once the cushion on the accounts gotten a little bigger, I can start being a little more aggressive. So anyways, this is just part of the process of growing a small account. So here we are finishing up day five: three hundred fifty three dollars and fifty cents. and probably after the first eight or maybe ten days.

I'll do a recap of the first eight or ten days, what my profit loss ratio is, what the total profit is, you know, and kind of everything else. Alright, so um, that's it for me I Hope you guys have an awesome rest of the day. Keep trading and I will see you guys on Wednesday morning. Alright, bye everyone.

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