Alright guys, so we're going to do a little bit of an earlier midday market recap here. This morning. it's about 11:15 so normally I go on right around lunchtime 12:00 noon and do the midday market recap. Today things have slowed down just completely.

We had some good opportunities right out of the gates and by an hour in the markets have just been dead. If we look at the overall market, you can see overall markets are rolling over as well. So I'm finishing the morning. this is I believe it's day 62, Let me just confirm.

Yeah, today's day 62. So finishing day 62 of the Hunter K challenge up six thousand, four hundred, seventeen dollars and ninety two cents. So three stocks I traded two small winners and then one really solid trade. So I'll break down these trades in one second.

I Just wanna show you the overall market you can see overall market. they're rolling over a little bit. those you watching on Facebook live. You can see the gains there today.

64 1792 cents, three trades Apop CY CC and pram are en Okay so you know, as you guys know, Friday was a disappointing end to the week as I lost $5,000 So you know this number may seem big sixty four hundred dollars. but you know when I'm having good days is the type of days I have when I'm having bad days. you know three, four or five thousand dollar losses are the type of days I have unfortunately, so you know that's just part of the deal with trading with big size. Really, that's all it is.

but my focus is to look for a quality setups and then be aggressive when I see them. So as you guys know, last week we started live day trade course with class One on Monday. We talked class 1, class 2, class 3, and class for. Each class was a minimum of three and a half hours.

The longest one was over four hours long. So these classes are now uploaded on the website. You guys can start streaming them. but in the first four classes of the day trade course, what we talked about is building your foundation for success as a trader and that really rests on a couple of important elements.

First is your ability to manage risk. Now Friday for me, wasn't the best display of risk management. even after years of trading, there are times where you will have a little bit of a setback. you get a little bit emotional, you get frustrated, you take it out on your account and the markets going to remind you really quickly that when that when you do that you know you will get slapped in the face and that's what happened on Friday.

But risk management is first and foremost and if you're able to manage risk, you know ninety-five percent of time, ninety-eight percent of time you know that's what you have to do. There will inevitably be a couple times where you make mistakes. That's part of trading, that's part of life. but You just have to always have that in the back of your mind.

What's my risk on this trade? By understanding risk, you can now do proper analysis of whether the trade is even worth take Worth taking if you know you're risking a thousand and the potential profit is only 400 or 500. Is that a trade that's worth taking right? And you know the answer is no, that's not. You risk a thousand when you have the potential to at least make a thousand, if not two thousand or three thousand for a two to one or three to one profit loss ratio. So if you don't understand risk before you take a trade you don't know what you're risking, then you.

You probably also don't know what you really stand to gain and whether or not you can even justify taking the trade. So this is one of the reasons that a lot of beginner traders end up blowing the blowing up their accounts. They jump into the market with real money without understanding. You know really simple concepts like profit loss ratios require percentage of success to be act to be profitable and that sort of thing.

And then secondly, the second element that you need to understand is stock selection. Every single day, I'm searching the market for a handful of stocks that meet my criteria for having homerun potential so you know dur the phase when I was still in strategy development which took almost two years, kind of des fell. developing my strategy, refining it, trying to figure out what works, what doesn't work I realized that almost every single day there's a stock that moves twenty to thirty percent. And that's true.

Today we had a couple stocks make big moves Fran made a move this morning from 320 all the way up to 410. That's a huge move that's in excess of 30 percent. We had Apop make a pretty big move here on this green red to green candle as we went down and then bounced back up a low of nine, nine, sixteen up to a high of 1060. so you know it's ten 15 percent bounce.

we had Cyc see that went from a low of 430 up to a high of six dollars again and this 20 30 percent moves. So these are the types of stocks as active day traders that we want to look at. You know, if you have a small account and even though my accounts over a hundred grand right now, this is still a relatively small account. You know if I put this money into mutual funds at 5% a year I'd make five thousand dollars a year.

Well, today I made you know over five percent just in one single day. So if I want to grow my account quickly I need to focus on the type of stocks that are more likely to make big moves. And then if I capture half of that move or a quarter of that move, you know I can build up my account really quickly. So stock selection is, you know, absolutely critical to your success as a trader.

A lot traders get into the habit of trading the wrong type of stocks, and if you trade the wrong type of stocks, you're not gonna see the big moves. Your risk management's can be all screwed up and almost inevitably you will lose money as a trader. So the first key concept and corner of your foundation is risk management. The second one is stock selection.

The third one is identifying the strongest chart patterns. Now these patterns are what I use to understand. Basically is what I used to find a low risk entry, an opportunity to get into a strong stock with a minimal amount of risk. So when you when you choose the best stocks, when you trade the strongest patterns you again are reducing risk.

So it kind of all comes back to risk management is the most important concept, but with stock patterns or chart patterns today on prey on. the reason I was aggressive on this is because we got a clean one minute pullback. all right. Now this clean one a minute pullback right here in the context of a stock that is $35 a share would not be something I'd be interested in, but this was the right type of stock to trade for.

a couple of reasons. Number one, it's a former runner. This is a stock that just the other day I made good money on. Let's see what day did I trade it? we traded this one on I can't remember what day I guess it was what day was this? this was Thursday that we had the big move on this one.

So Thursday this thing popped up yeah I remember this one so you know we had this move here from a low of 275 all the way up to a high of 458. I didn't do as well on it as I wanted to do and I was disappointed because it made such a big move and I missed the initial entry. so it pulled back and we had one day of resting. The first day to make a new high is what I was watching.

And that meant this candle green candle today had to break yesterday's high of 331. So this is a stock that was on my watch simply because of how volatile how big of a range it's had now I figured today if we had the first candle to make a new high, we would get a bounce. Anyone who is short from up here as this candle starts to move up will likely cover. you know if you're holding a short and you see the daily Campbell making new high that took a place to get out especially when you have increasing volume.

So I knew that this would be a spot that we would likely get a big move from 3:30 up to 364 dollars maybe higher and that right there is an opportunity for a 10, 20 30 % move. So even though I didn't really know if this would go all the way back to high a day of for 58 I thought at the very least we would get a nice 20% move and that's exactly what happened. So it starts to pop up I see it on the scanners and I watch the pullback and I'm like okay here we're getting a pullback and this setup has really two setups in one. The first setup is it's the first one minute pullback on a strong momentum stock.

The second setup is that it's right under the half-dollar of 350 and I guess the third setup is that at the same time we're having a daily breakout. So when I saw this I was I was like this looks awesome I like it I want to jump in I'm going to be aggressive and I jumped in right away with 5,000 shares I doubled to 10,000 at 350 and then I added another 1200 shares or sorry, 2500 shares up in the 70s and this popped here up to a high of 365. Other traders recognized the same set up and then we squeezed up to a high of 388 389 and so at that point I had 12,000 actually I sorry I had I think 13,000 shares with an average of 357. So my average was a little on the high side.

Now this was halted because it squeezed up 10% in basically two candles and this is the type of stock that's more likely to get halted anyways because of the big range it had the other day. Traders see it. Anyone who's short starts to cover long biased traders jump in for the squeeze. seeing.

oh, look, prance in the scanner again I Want to jump in. This is the same type of thing that we saw on HT GM on Apop on ET RM on so many others. So this is a setup. a pattern that repeats itself.

Okay, so we pop up here and as we squeeze over $4 I add another 25 hundred shares, we pop up to a high of only let's see four and then only for 10. What was interesting is that out of the halt, we actually opened just a little lower we opened at actually. we opened flat at 389. We dipped down and then we surged back up and as we searched back up I was expecting we would break, not just to 410 you know, over four and go to four, ten to four, Twenty four, twenty five.

I Wanted to see that big move potentially up to four fifty eight. So as soon as we popped up and I was seeing a lot of selling going through and I wasn't seeing, you know the price moving up as much as I wanted I said you know what I'm gonna get out I hit the bid and sold twelve thousand shares right around four at 4:05 402, 401 and then I sold the remainder of my position at 377. So in that one trade from an entry at 350, twelve thousand shares up to a high of four ten, Six thousand, Two hundred eighty one dollars. Now if that had gone up to 425 or 450, it could have been a $10,000 winner.

My best day of the year so far is a twenty two thousand dollar day. So you know, obviously back of my mind potential is that this could be a really huge winner. but at the same time if I'm seeing weakness I need to be quick to take in profit because I have a large position every 10 cents I lose I'm gonna be losing 1500 bucks of profits. so I don't want to have thirty cents of slippage now on Friday on the trade I lost on I had twelve thousand shares I was down 2500 bucks which was twenty cents and then when I hit the sell button I got basically twenty cents of slippage and lost an additional $2,500 so it doubled the loss which is obviously horrible.

So I really didn't want that to happen on this one, you know for sure. I didn't want to go back to break-even but I just had to make sure that I took profit when I had it. so that was pran. Solid trade on the one-minute set up and we got a pullback here which I was you know I Was hoping we would get secondary opportunities on this, but because of the volume profile where the highest volume of the day was selling, it just didn't really hold up.

And now on the daily you have two doji candles. There are shooting star candles with this tall upper wick. We've got one here and now we have one today, so this is obviously not not ideal. All right, so that's Bran Apop.

This one has been extremely volatile. We've had some really good opportunities on this one. Today we were opening higher and we had this big kind of whip right out of the gates which was pretty wild really. I jumped in this at $10 which was a little bit of a chase so I only took a thousand shares in.

At $10 we got a high of 1064, I sold 400 shares at 1060 and then I sold the rest break-even at 10 and then we dropped all the way back down to 930. I mean just such a range. So in that range is an opportunity to profit. If you're quick, you know if you're able to understand the right entry and the right exit, you can do well.

But you know if you overstay your welcome on these. Obviously it can get pretty pretty nasty. So fortunately I was able to book a couple hundred dollars on that one and then see Ycc. I Got in this out of the hall, the spiked up and was halted.

the same is pran and then we got this little pullback and we got the break up and over. Let's see, we got the break over 550 up to 565 I was in at 550, got to move to 565 and all the way up to a high of 605 I added at $6 for the break of the whole dollar and there was a hidden cellar. We probably saw like 50,000 shares of buying going through it at 4 at 6 dollars. but that cellar wasn't moving, it just kept showing $6 So you saw all that accumulation traders buying, buying, buying and then when that couldn't break up to the next level, traders just bailed out, they hit the bid, they got out and that's when we got that big flush here.

Right down 48 cents to 552. So I was out of that. but I did take a little bit of a loss and that's why I'm up only $99 on it. So today was really about one solid trade.

The other two you know, had the right idea just wasn't able to get full position sizes. or you know, I got a little bit of a fake-out which happens sometimes so that was the so that was the reason those weren't as big. STD Y was on the scanners this morning as a gaps can stock gapping up looking to move higher. My problem is that has a five cent tick so it trades in five cent increments and I knew because of that it wasn't going to be easy to trade and so I just left it alone.

It ended up having a lot of volatility, but no trades on that one for me, so that was STD Y We also had another one on the scans this morning that was the same way. So being able to quickly look at these stocks and recognize okay, this is a five cent tick, You know these are the reasons it's not going to be. You know, have homerun potential. It's important to be able to make that analysis really quickly this one.

NVC are you can see squeezed up pre market to 1430 and then pulled back down to 12 once the bell rang. so not the easiest one. Alright guys, so anyways, that's that's about it for today. A solid day and the first day of April first trading day and I actually wasn't thinking about it being the first day of the month.

which is good because when I think about it being the first day of the month, sometimes I can get myself into kind of a weird head space where I'm trying to build my cushion as quickly as I can So fortunately, today was just a really solid day 6400 bucks and hopefully that momentum continues through the week. But at the same time, remember right now as of today I've made more money than I made all of last week Last week I made 10,000 and then I lost 5,000 on Friday. So I only finished the week up about 5,000 dollars. So as of right now Monday morning I've done better than I did all of last week in five days of coming to the table every morning to trade.

So with that in mind I do need to taper back my risk a little bit obviously I want to have $10,000 weeks? You know that gives me 40,000 a month. but at the same time I need to take a quality set ups. less is more focus on the best, leave the rest trade the best quality set ups. Don't trade the junky stuff if there aren't good setups tomorrow or through the week, I'll trade less and when we see a good opportunity like pram, I'll jump in with sighs, catch the four or five thousand dollar winner, and then step back.

you know, and kind of wait for the next opportunity. And that's kind of how you have to trade. You have to just sort of scan look for the best quality setups. It's almost like spearfishing.

You're just sitting, waving, waving. and then you strike. And then you get it. And now you sit.

and wait. and wait and wait wait and then you strike. And then you sit and wait. And that's how you have to trade in my opinion.

So it's about accuracy, getting in, being aggressive, capture the profit. Get out of the market I Did it today up sixty four hundred dollars. So feeling good about my trades this morning and that was really my goal that I told myself this morning as I came in the market I was like look, you have a red day on Friday You know, don't worry about trying to make back what you lost. Your goal today is to manage risk on every single trade and if you can do it, you'll have earned yourself a little bit of caffeine.

So this is my reward and it was just staring me in the face this morning knowing that if I was good and I traded smart I'd get a reward. So fortunately, I'll get a reward and that's good news for everyone in class tonight. We'll prepare ourselves for another three for our class. Maybe it'll be shorter I don't know, we'll see.

but anyway, so that's it for now and I will catch up with you guys a little later this afternoon. Okay, thanks guys! 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.

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