Hey guys, Alright, so time for a midday market recap. We're going to go over the trades for today. Finishing the morning up sixteen percent on my small account. two hundred sixty eight dollars and forty cents after commissions, which is good.

This is now the best day of the year in the small account. Yesterday was $248 I think it was two forty eight and today up to Sixty eight. and you can see how as my buying power is increasing, it's going to be increasingly easy for me to have big days like this. You know, to Sixty Eight.

Hopefully you know a week or even two weeks from now will be a small day and you know I'll be doing three, four, five hundred dollars. But you know for right now where I'm at in this challenge. We're on day seven and I should like my celebratory candle here because I'm finishing with my 19th consecutive winter, which is pretty awesome. So 19 consecutive winners? That's a great way to start a small account.

I Mean it's a little bit of luck I suppose. but at the same time, 19 consecutive winners is the result of me being really, really picky about what I'm willing to trade I'm not taking a lot of trades I'm being very particular about what's worth trading. You trade the best you leave the rest, your accuracy goes up. You know, the only thing that I have to deal with is the fact that my average winners are fairly small and commissions are still a really big piece of the pie.

So let me show you guys my P&L for the day, those of you on screen share you can already see 268 268 dollars and 40 cents I Started this morning with one thousand, six hundred and thirteen dollars up a little over a thousand dollars since I started this account last week and my buying power is right around eleven thousand so you know that's pretty good. Now the two trades I took GEVO and SK Ln $260 on GEVO 110 on SK Ln and commissions you can see are over a hundred dollars. so you know that's that's the problem, that's the this is my post on stock twits and then this is my live account right here. Alright so you know I'm at a point where Commission's continue to be a pretty big piece of my profits.

It's not ideal, but it is what it is. So today I took a total I have total of 13 executions, 13 orders 13 times, 495 per trade is 64 35. so that's why it's that high. and then the Ecn fees are just the result of you know the number of shares that I'm trading.

So you know the basically the way I trade today was a you know, a little bit closer to how I would trade with my regular size account I got in SK Ln when I first got in that one and I can pull up my order sheet here and see show closed orders did you to do so? The first trade of The day was some reason this isn't sorted in the right time. So first trade of the day was buying 2,000 shares of SK Ln sent the order I got filled right around 334 335 I'm sorry I got filled right around 324 and that popped up to a high of 334 I only locked in six five and a half cents profit on 2,000 shares. you know, $110 And the thing is after Commission's on that trade because of the way I bought with one order and then I sold by selling a thousand shares and then I sold 500 shares and then I sold the remaining 500. You know I didn't have to do for executions or for you know, for tickets, but you know what I was like? Well I'm up five cents on 2,000 shares and it's kind of not moving.

so maybe I should just let just take half off the table. You know, just take take a thousand shares off. That's a little bit of profit it covers covers the trade, the commissions, and if it does drop back down, it reduces how much I'll lose if it quickly drops 20 cents. you know I get in stocks at Apex points where I expect they'll have that big breakout.

so if they don't have that big breakout I try to get out of the way quickly so pops up five cents I sell half and then I'm like uh, you know I'm not sure. settled out of 500 shares and then you know, finally sell the rest. Then I get into GEVO and GEVO was kind of an interesting one because the stock was halted. it squeezed up and was halted on a circuit breaker.

Now if I pull up the GEVO chart here and SK LM Just by the way, this was on the watchlist this morning. It was a gapper and so I was watching it for this long right here over 225. for those of you that couldn't see the chart and I'll put this on Youtube long over to over 325 thinking that over 325 we would go back up to high of day. Pre market highs were 345.

so in my entry at 325 my stop was 319. so a six cent stop. profit Target was 350. That was my Target.

that's what I wanted to see. but when we popped up to you know, 334 and just the volume stopped I realized okay, obviously this thing's not moving I just got to get out of the way. I guess it actually went as high as 43 45. but I in any case, you know I I just I took the small win on it and moved on to the next one and that faded.

Now one of the things that we noticed this morning yesterday we had some parabolic moves. you know we had D FF n the stock that I made in eleven thousand dollars on. But We also had I Am you see I am you see squeezed up yesterday from a low of 214 up to a high of 427. So 100% move we had SGL yesterday which squeezed up ridiculously from $6 all the way up to 17 17 49.

So we saw a bunch of really you know pretty extended moves. I'll show you the chart on this one, some pretty extended moves here on a few names and then what ended up happening today's he's rolled over, the market opened and they rolled over. so there's SG NL The big move yesterday. bell rings and it rolls over I Am you see you get the big move Yesterday market opens and it rolls over ET RM This one has been in play as well.

Big move yesterday. market opens and it rolls over. Now you know the one thing about these guys is that I actually can't trade them because they're restricted in sure trader So sure, traders restricting all of those really volatile stocks. You know, because they don't want beginner traders or traders with small accounts to over leverage themselves and do something stupid, you know and blow up the account.

So as a result et RM is on one to one margin. so I could only buy $1,600 worth of stock and that's only like a hundred shares. So I can't make money on it d DF FN is on restriction I am you see is on restriction, you know SG NL So all of these stocks I couldn't even trade in my small account if I wanted to I just wouldn't be able to buy enough shares. So I was aware of the fact that today we had the potential to see some follow through on some of those big moves from yesterday.

But then what ended up not happening was you know we just didn't get the buying out of the gates and they rolled over. See you are was another one had a reverse split like GEVO made a big squeeze yesterday from $3 to $7 and is now pulled back down to the four 80s so you know no opportunities on those ones. But as KLN on the other hand was a fresh gapper. so I was like okay s Kalyn looks good and then GEVO right around for whatever reason I have no idea what caused this spike.

but right around 955 it suddenly squeezes up about you know, 60 cents and is halted on a circuit breaker. So I was like okay, squeezes up, it's halted I'll look to jump in this for continuation. so that's what I did the market. It resumes trading after the five-minute circuit breaker halt I jumped in with 2,000 shares of GEVO Let's see, I got in right around 436 and then it popped up to 455 and then it dropped back down I stopped out at 443.

You know it was about 90 bucks or something like that. It wasn't a big winner, but that was one entry, one exit. So now you know I'm up to what was it? Five executions, five tickets. Now that's like six seven.

Then I took I got back in GEVO and on this one I got back in at 60. Let's see, I got back in at 455. it spiked up to a high of 470 maybe for 74 and I sold it for 65. A thousand sold another foul.

So another 500 at 468 and another 500 at 455. So there that got me up to my 13 total tickets and you know another on that. That was a good trade though, and total profit on the name. $260 But the result is that I'm up three hundred and seventy dollars before commissions after commissions I'm up only 268.

So you know what could I do to help reduce the number of commissions right now I could avoid scaling. Scaling is a strategy that works really well when you have big size because you know when you've got 5,000 shares and you're up twenty cents, you want to sell half. You know, take a little off the table and who cares about the $5 Commission But when you're doing it with 2,000 shares and the profit is only ten cents, you know every time you do that you're just taking away from the profit. So at the same time it does reduce my risk because as soon as I get into a trade, I'm getting in with max sighs.

You know, I'm pretty much using all my buying power when I first get in and so as soon as it pops up, I'm able to start reducing my risk by taking some of that risk off the table. And if right now it's costing me, you know a little more because you know proportionally, the Commission's are higher than what I'm making than what they would usually be, then maybe that's just something that I have to deal with for the next couple weeks while I'm building up this account. So that's kind of the two schools of thought. one do I change my strategy to accommodate the higher Commission's which then means I might be taking a little bit more risk because I'm holding the full position until I see an exit indicator and sometimes when you finally see that exit indicator, you know the stock is dropping.

So that could go from me being up ten cents on two thousand shares which is a nice a nice $200 winner to being breakeven or even worse, being red. And I've had a couple of trades so far where I got in, it popped up. you know I sold half and then I sold the rest breakeven. and if I hadn't sold half at profit, I would have been red on the trade.

So the result of me scaling out is that my accuracy is higher. I've got a lot of winners 19 winners in a row, but my average winner does become a little bit smaller because I sell half pretty early on and then you know if it does end up running because I sold half my position so early, you know the amount I'm going to make on the trade is really reduced. On the other hand, if you know it pops up I sell half and it does drop fast. that might ordinarily be a loser for a trader who's holding the whole position.

and for me, it's a small win or you know, just above breakeven I Think that for me right now I need to be mindful of commissions and not overdo it with the scaling, but at the same time, this is a strategy that works really well for me. I've been doing it for a long time, so I'd say I don't want to change my strategy I'd rather just stick with the strategy deal with the Commission's being higher knowing that every single day I add a little more profit I'm increasing my buying power. my account is getting larger and I'll be able to really in a couple weeks start trading almost the same as I would trade in my regular account, you know, and then then I don't have to worry about this. So I think the only thing it means is that the ramp-up period is just going to be a little longer because days like today you know 25% of my profits or whatever went to commissions.

and I think you know? Like I said yesterday, that's just part of the battle of trading with a small account. commissions are proportionally large. They're just a larger percentage of your profits yesterday in my regular trading account. you know I finished the day with $9,500 and my Commission's were let me see what they were did you did - was it my commissions yesterday were 95 dollars.

so you know versus a $9,500 day. You know that's proportionally a very small amount, but then here we are in sure trader with $100 of commission, but only you know three hundred seventy in profits. so it's just it's just part of the deal. and I definitely encourage traders to remember that.

Sure, traders a great place to trade, but you can't over trade if you get into the habit of taking ten fifteen trades a day. you've got to multiply those by two or three for every entry and every exit. and then your commissions are going to be hundreds of dollars a day. I Remember I had a day last year when I was doing the small account challenge where my commissions were crazy high.

I'm gonna see if I can find that day I'm pretty sure I have it on the website here. You know it's just one of those days where I got aggressive I just started trading a lot and next thing you know I was my Commission's were hundreds of dollars. So let's see. here's a day where this is from last year.

That's a day where my commissions were two hundred forty two dollars. Let's see, there's a day where the Commission's were two hundred and three dollars. It's not horrible I do feel like there's a day. there's another day that's 230 in commissions.

You know all of these days you know almost all of them were green so it's like not the biggest deal I guess they're no. Guess maybe 230 was as high as it went. thought it was higher than that. but in any case, you know it for a day where I only made well I made three trades on this day 230 bucks in commissions.

So you know three trades and it definitely definitely hurts that 25 percent of my profits there went to commissions in total. During that challenge where I was trading at sure, Trader I made $10,000 and 2,500 of it went to Commission's so it was right about 25% And you know last year in my in my main account at Speed, trader I made two hundred twenty two thousand dollars after commissions and my commissions were twenty five thousand. So segrete kind of crazy $25,000 in commissions. but that's only ten percent so that's much.

that's more reasonable you know and I can handle that. You know that that that works. and so anyway, it's just something to be mindful of. For those of you trading in Sure Trader or trading with a small account, commissions are tough.

It's just something that you got to kind of work through. Now for those of you that are at Lightspeed and some of you at Speed Trader also are choosing to do this, you can trade with per share Commission So if you only trade a hundred shares, your Commission's might only be you know ten cents or they're true or thirty cents or something like that it would be 30 cents. And then if you trade a thousand your Commission's be three dollars. You can do that.

With light speed you can get per share pricing. But the disadvantage to that is that if you take 15,000 share all of a sudden your Commission's are going to be like 40 or 50 dollars each way. and you can be back at a hundred dollars in commissions. So that only works when you're trading per share.

Trading commission structure is only good if you trade on average less than 500 shares. Once you're trading more than 500 shares, it's really better to be on a per share or a per trade commission structure. Alright, so in any case, that's kind of where we're at today. It was, you know, sort of a slow day in my regular Speed Trader account.

I only made one hundred twenty dollars on GEVO sure trade or $268 after commissions. So you know another solid day. I'm up two hundred eight percent on that account. Started with five hundred eighty three dollars and I'll open tomorrow a little over 1800.

So that gives me Thursday and Friday to get over two thousand dollars which hopefully I'll be able to do and hopefully close the week right around two thousand two hundred which would be a thousand dollars profit this week. All right, so we'll see what we can do. That's the goal. Hopefully I'll have a couple more good days.

just takes really just takes one trade. But I've been averaging to two stocks a day in this account. so if I can find two opportunities to jump in, you know, get some profit and get out. That's what I need right now.

You know it's just like every little brick building up this foundation. and then once the foundation is high enough then I can really start to I can't really start to pick it up. alright guys, so any questions from those of you watching, let's see Sergio you say you finished the day with three hundred fifty two dollars was up five hundred but gave some back, decided to be done. You know what? that's smart.

One of the things I used to do a lot is when I was up. You know if I like I have triggers and one of those triggers is that if I'm up you know five hundred dollars and I have a six hundred dollar loss and I go red then I get really frustrated and I start just I want so badly to get back to where I was and almost always if I give in to that emotion I end the day down thousand bucks or more. So I've had to have the presence of mind to say, well just throwing the towel on the day, walk away and so for you, you know not trying to fight to get back that you know $150 you lost is really good and you should be proud of yourself that you were able to take the 350 and walk away $350 a day consistently is like 80 thousand dollars a year. That's great, You know you should be.

You should be pumped about that. What's up James Alright, that sounds good. Um, so and finish Michael you say you finished red because of Commission's I definitely had that happen to where you know before commissions I'm green but after commissions I'm down. you know 100 bucks or whatever and that's you know that's one of those days that is annoying but it's the cost of cost of doing business I guess cost of trading and this is a job where we don't have a lot of overhead.

you know? So our primary overhead some software subscriptions, some tools and then the Commission's that we pay that you know in every trade. Alright guys, so that will do it I guess for today and I will see you guys, first thing tomorrow morning. Hopefully we'll have some better stocks on the Gap scanner today. Seems like it was kind of like that rest day in between some big momentum yesterday and hopefully it's a big momentum tomorrow.

That's that's what we'll see. Okay, I'll take a look at that I am and P yeah if there's any stocks you guys want me to look at I can I can take a peek So I am in P2 this one. It's a literal penny stock. It's 19 cents a share, so for me it's just it's below my minimum price.

I wouldn't trade stocks this cheap? I Really don't trade stocks below a dollar you can see on the daily chart. It's got the 200 moving average at 34 cents and the 50 moving average right here at 20 cents. It kind of came up and tapped that 50 and then pulled back off that level. et RM Yeah, kind of fading today, rolling over a bit, but you can see again how the market opened, it dropped down and then spiked up and then it came down again just so choppy and I'm you know.

I'll admit I'm one of the guys who despite this stock moving from $1 to $30 a share I'm a guy who lost money on it. You know how is that possible that a stock could move that much and I could be so stupid? Well, you know I it just didn't seem to trade it in the right ways the first couple days the first day especially I didn't trade it at all and then you know or maybe I traded. it took a small trade on it and then day to day three, it just seemed to get choppy and you know it's not the first time we've seen that happen. and even Dr.

We D Ry S was not the easiest stock to trade. I was away during the day where it had the biggest move. but during the first day the first day that Dr. Ys spiked up, it spiked from $4.75 up to $15 and it did it a lot like the way S GNL did yesterday s Gnl squeezed up.

you know, 300% on very very light volume. You know the volume was very low and I was surprised. So the spreads were big, it just all of a sudden you know you get a breakout and boom it just spiked three points and that's very hard to trade. So I was like okay at the same time.

maybe I'll watch it today because it might do a secondary move the way Dr. Ys did and you never know. this could be the next stock that goes to $50 but ended up rolling over of course. Yeah, Ec Kelly, I can look at that one.

I oh I see that spike there on the scanner. I don't know. I'm not really into trading that one right now. When you look at the daily chart, you can see that the price is below the moving averages.

And last night during our mentor session with the Warrior Pro students, someone was asking, you know what's what are one of the first things you look at on a daily chart or when you're looking at daily charts and what I like to see is that the stock is above the moving average. So if I show you right here, this stock is below these moving averages. So each one of these here here and here these are like, you know, areas of resistance. They're likes.

like a line. You know, a little ceiling, one here, one there, one there, one there. you've got four in a row. So for the stock to get up through this, it's got to break through each of these levels.

and a lot of times they struggle to do that. So I much prefer stocks like let's see I dxg. So when we were looking at I much prefer when stocks are above these lines. Now this isn't the cleanest set up right now, but it's at least above these resistance lines so that makes it cleaner for me.

SGL You know it's now above these resistance lines. Yesterday, it broke through them, all, right? So that's kind of what I look for. You know that's one of the first things I look for I Want to see that ideally the daily chart is clean. It doesn't have to be perfect them So yeah, Clyde a dot, one dollar minimum.

Now with my sure trader account I can't trade stocks below three dollars and have margin so you know right now I could take a thousand shares of a dollar sixty stock because I've got $1,600 and once I have three thousand dollars, I'll be able to take a thousand shares of a two dollar and 80 cent stock. But by the time I've got three thousand dollars, three times six is eighteen. I'll have eighteen thousand and buying power. Which means if I wanted to take you know five thousand shares of a three dollar stock 320 I could I could start being a lot more aggressive and again, I'm going to be like that.

Makes more sense. It makes more sense to take three or four thousand shares of a stock at 350. try to get twenty cents, get a quick 700 800 bucks. That's going to make more sense than taking a thousand shares of a stock that's priced at 280, you know I'm just going to gravitate towards those higher priced stocks now once my account is 6000 or 7000 dollars.

Well, I could trade the you know, the cheaper ones also, but I probably won't and generally they're not as clean. A couple today that Oh RPG r OG was it o PGN that one was popping up a little bit today. We also had was that other one o dxtr was popping up pretty I mean that one did make a nice move today from a dollar thirty all the way to 220 so you know sometimes those are worth watching but again not below a dollar. So my East signal plan is the middle-of-the-road package.

It's not the most expensive one, but it's not the cheapest one it gets called Signature Guys could call up East signal and usually if you call them they'll give you a like a discount or kind of like an introductory like promo type of thing. All right, let's see. Yeah! so Ivan that's true. You know right now I am trading in two accounts which is hard I mean it really really is hard and yesterday I had a winner I made money while I made money in both accounts but on the stock cool c Ool I was profitable, inshore trader and I lost in speed trader.

you know it's it's just hard to trade two accounts at once and my focus is primarily the small account because I can't afford to take losses in it. So I have to be really diligent now. Last year was different because I was trading in both accounts but I would take really big size in my big account and then I would focus on the big account because I knew if I lost money the loss would be you know, a lot higher and it just became the account that I would focus on more. and this year I think just because I had such a great year in 2016 I just don't really care as much about my big account.

like yeah, I'd like to make five hundred or a thousand a day, but if I don't, it just doesn't bother me. So I think that my mentality is a little different and I'm able to kind of take a position in the big count. Let it sit there while I focus on a small account. Hopefully they're both work.

If not, you know I'll stop out a big account, take the loss in it. So yesterday I lost $1400 on on that one. that one trade, whatever it was yeah as I'm cool. alright guys.

so any other questions yeah market I mean inevitably I will have a losing trade in the small account. And the important thing is that I cut the loss really quickly. You know that I just bail out I cut the loss. don't hold on to it, you know, And that would be that'll pretty much be the the most important thing.

It'll happen. Yeah. Jonah So on average speed traders about 10% The Commission's are about 10% of my profits and obviously they don't calculate them based on a percentage of your gains. It's just that at the end of the day, that's kind of what it is, what it ends up being.

And sure trader is closer to 25% at least right now you are re sure I can look at that one so you know this one. I'm I'm not super super crazy about uranium resources. the float on it you are are e is 211 million shares. you know it just made a big move for sure in the last couple days from a dollar 72 all the way up to $4 For whatever reason, you know we've traded this one in the past and it hasn't been super easy to trade.

So when I saw it popping up I was just kind of like, uh, not not too interested. And then I think I missed the proper entry points. So you know in hindsight, it was pretty clean this morning. On that first pullback for an entry, around $3 was a pretty good setup and then the second bull flag right around 3:00 10:15 at 3:00 Let's see, at 3:19 I mean those are good setups.

They're pretty clean. So yeah, it ended up being better than I expected. Kind of surprising. So Derek my strategy is all about trading the morning.

The first two hours is when we have the most volatility so we have the most volume and the most momentum. Generally speaking, that's true almost every single day. not just on you know, the stocks that I'm trading, but on almost all the stocks in the market. So I've always done really well trading the morning.

and for me, I have I'm not sure if it's my attention span or the fact that you know as a trader we have to make risk analysis really important risk decisions on every single trade and I sort of get like decision fatigue where at a certain point in the day I've I've had to make so many of these decisions that I stopped making good decisions and that's the cue for me to step out of the market and to turn off my trading account. So generally when I would trade in the afternoon, it's when I would start to get sloppy. It's when I would start to have big unnecessary losses because I just I'm not as focused as I am in the morning and you know. so I focus on trading the time of day where I'm at peak performance and when I'm at peak performance I'm the most aggressive and last year I was able to make $220,000 trading the first two hours.

Now if I traded for four hours a day, would I be able to make four hundred and forty thousand? No, no way. definitely not. because statistically, when I trade in the afternoon I lose money so that's me. Not everyone's the same with that, but you know that's just the way the way I've been.

So almost the entire year I was trading with a forty thousand dollar account at the end of each week or at the end of each month I would draw money out last year and keep my balance right around Forty thousand. All right guys, So we'll leave it at that and I Will see you all first thing tomorrow morning. All right, 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 any time I upload new content.

Until then Happy surfing!.