All right. So time for our midday market recap. Go over the trades for today. Today is the last day of the month, which is, you know, always kind of a day where you don't really want to try to be a hero.

you just kind of want to take whatever you've got for the month and you know, carry that momentum into next month. Now me, on the other hand, I'm hoping that the only thing that gets carried into next month is better luck because this month has not been really great for me. But in any case, I certainly didn't want to do anything crazy. Now as many of you know, I put myself into Trader Rehab on Wednesday and Thursday had a little relapse.

Anyone who's ever been to Rehab knows doesn't always stick the first time around. So I'm back in Traitor Rehab today and following the rules which I feel good about despite the fact of them town $185 My trades today were pretty solid I traded more names than you typically see me trade we've got. Let's see, was it two, four, six, eight stocks SNC are trade both long and short I've got two shorts on here today and I managed my risk well on really all of these trades so you know I came up a little on the the wrong side, but with a 66 percent accuracy. The main problem was average losers 14 cents, average winners only 11 cents So a slightly negative profit loss ratio And that right there is the problem.

You need to have a positive profit loss ratio, you know? and of course drive for that. But I'm definitely not beating myself up over. you know, losing 185 dollars today that that's not a big deal. What's good is that today was a day where despite being slightly in the red, I was challenged to not break my rules.

Of course you know when I'm down I think I was down 550 dollars at one point because I took a trade on let's see it took CCN are made 550 on that one but then I lost 336 I'm seen at and I lost 571 on TB BK and then I had the pram trade. so you know I had those like for losing trades or three losing trades back-to-back and it put me down about $550 on the day. and then I finished the day with three winners recouping four hundred and fifty dollars. Now my last trade on Smcr I was actually up 750 on it and I didn't take the profit on it I ended up only closing it with fifty six dollars in profits.

so a little disappointing there and I'll show you that entry in a second. but you know one of the things that I'm really trying to focus on and I'm going to try to continue to focusing. Focusing on this through the month of May is to be a little bit more conservative in the way I trade. So one of the things that you'll notice here is that my account is seventy thousand dollars smaller than it was yesterday.

Started this morning with thirty one thousand dollars because I decided to wire out seventy thousand dollars. so I paid myself for the first quarter, basically took some money out, paid myself for those gains, and I think that that was a good decision I Started the year with $583 built it up to about one hundred and twenty-two lost about twenty thousand, and have decided to take profit and pull out seventy thousand to sort of reset get myself back to trading with a small account because I mentioned yesterday I Think most of you guys who are in the room and probably many of you that watch on YouTube and Facebook and so like that don't have six-figure accounts and you're not striving for homerun trades. If you think of this as kind of like the baseball player analogy, you know you've got those baseball players who are homerun hitters. They are swinging for the fences to try to hit home runs, but a lot of times they step up to the play and they strike out.

It's kind of like they either strike out or they hit a home run and they strike out more often than the. but when they do hit a home run, it makes up for all those strikeouts. especially when it's like a Grand Slam Now in the month of April I was really striving to get some some. Grand Slams You know I set myself up a couple times with you know, twelve hundred dollars of profit and or three thousand dollars of profit and I was looking for the big win.

You know the eight $10,000 winner and I was trading in a way that was very different from the way I traded with a small account. So obviously I I feel like that didn't work out very well in April Not because the strategy doesn't work, but simply because the market was not as strong and I was sort of being a little stubborn about adapting my changing are adapting my trading to the changing market. The market simply was not easy to trade in. April and I've heard this from long biased traders I've heard it from short biased traders I've heard it from lots of different traders that April was a difficult month and for me it certainly was.

In fact, it was the most difficult month I've had in over two years of trading I finished the month down four thousand, one hundred and seventy eight dollars. But for his red month in nearly two years of trading obviously this is, you know, a big correction from hitting twenty-five thirty thousand dollars in a month. but it is part of the deal with trading that there are times where you're going to step up to the plate doing pretty much everything right, but the market just isn't on your side. My flawed this month was not being quick enough to to adapt to this market I kept stubbornly taking 10 to 15,000 shares thinking that stocks that were hitting a high day scanner would go another 20-30 percent And you know what? That worked out really really well in February works out really really well in March and obviously it worked out well in December of January as well.

So for whatever reason that was not working out as well in in April and I'm glad that I was able to adapt my strategy and you know at least here at the very and of the month to scale back. but of course it would have been nice if I had done it sooner. So you know today is the third day of my self-imposed rehab and you know I'm happy with the way I'm finishing the day although I'm down 180 bucks. I followed all the rules and I can feel good about that.

So my goal for the month of May is to continue to cap myself at 2500 shares until the market shows me that we're going back into one of those feeding frenzies. And you know that's one of the things we've talked about a lot is the fact that when you're in kind of a feeding frenzy, you'll see stocks like the stock Nov M that I showed you guys yesterday I'm if it was February 12 to February 11th, you'll see stocks go from $5 to $8 without pulling back. They just go crazy and then they're done and so that's what I call the feeding frenzy. So if you think of like you know, whatever a fish in the water and all these you know big sharks are going after it.

They all jump in, they get their piece and then they're gone and there's nothing left. If you're being the polite fish saying, oh, I'm going to wait for a reasonable opportunity I'm not going to push my luck. I'm just going to sit back and wait. Well next thing you know that the meal is gone.

There was nothing there I mean it's all been eaten up by by the turret, by the fish or the traders who got in there first. So on this Nov n you see how this went from 5:00 to 8:00 and then all the way back there was never an opportunity for a nice respectful you know, easy to trade pullback. The best way to make money on this was simply to jump in. It was to chase it.

But knowing that we were in a market at that time we're chasing was working. We're getting in at half dollars and whole dollars and riding them up to the next level was often the best way to get into these stocks because they would go from zero to 60 and then right back down to two flat. Now in the current market we're seeing something a little bit different, which is and seeing that is another example of it. even today.

this stock you know you kind of got the back and I got in this at 9:35 9:30 right here for the first five minute candle make a new high right? Nice, easy, happy, good looking pull back looking for the break of high a day we come up we hit 939. it's get gets rejected off that level and drops down so low it actually goes red on the day you know. So I lost whatever three hundred bucks on that I stopped out quickly I got in at 9:30 I stopped out with 2500 shares that like 9:20 so wasn't a big loss or anything like that I did the right thing but this is the market that we're in. We're not seeing these stocks continue higher and higher and higher.

We're seeing them pop up and then get hammered back down. That was. See now let's look at Pram Fran was the Gap and Go stock. It was gapping higher and pre market high was 372.

it dropped as low as 305 or 304. Now my entry on this was not the typical gap and go trade of buying pre market highs. I bought the first candle to make a new high on the one-minute which was you'll see it right here an entry at 337 340 it popped up to a high of 45 that's up five cents and then drop back down to 330. So I stopped out of that one quickly.

only lost 160 bucks out of 2500 shares which is good risk management and it's just as easily could have gone right back to high a day. It's a right What a red to green move does? It just didn't go from red to green and went from red to up a little and then just sold off more so you know continued weakness on that one. And so this is the thing is that you have to be able to be a responsive trader where you respond to the market. If you're in a really strong market where you're seeing these feeding frenzies left and right, then you know it's silly not to try to take advantage of it like we had that huge move.

On to our YS right the our YS going from two dollars $200 and we had sympathy momentum on how many stocks was that we had G lbs Also a shipping we had DCI X also a shipping stock. These companies I'll do cargo container ships We had Ec Es EA we had Sino S Ino these are all shipping stock. Every single one of them got that sympathy feeding frenzy. Traders should jump down looking for opportunity.

We don't have any examples of that in April not really, not one. We had a couple of stocks that were ok for one day but not continued. multiple days of really clean momentum. So the responsive trader would say I'm going to taper back my share size I'm going to reduce my risk I'm going to step out of the market a little bit.

Maybe I'll keep trading a little bit with small sides, but I'm going to wait until we have those good opportunities. and then when I see that stock go from you know, $2 to $10 and really prove that there's momentum, then I'll be one of the traders that comes in looking for that next move expecting to see that that sort of feeding frenzy. And if you see it's working and if you don't see it, you get right back out very quickly. So that's one of the challenges that you know it.

Training is not necessarily something where you have a hard set rule that you take the same amount of risk on every single trade. You have to be able to throttle and taper your risk up or down based on the market. That's a responsive trader. Now, a trader who's just impulsive or you know, reactive will just jump from one thing to the next without having the presence of mind of what's happening with the larger market.

and I think that something that I've talked about is the fact that you know taking five hundred dollars and turning it into a hundred K and 44 days was awesome. and I think that I felt that I needed to continue to have a really big trades five eight, ten thousand dollar days. But the reality is there was a window where I was able to be that aggressive and make those kind of profits. and in that window sort of closed in mid-march and since then, we've seen just not as not as many opportunities for really big wins that could give me the you know, five to ten thousand dollar potential.

And so while in the first quarter, it made sense to take what might have been a thousand dollar profit and let it ride for that bigger winner because the cab out that was no longer the right strategy in March and April and so a lot of you guys saw me. You know, in trades where I was up two or three thousand dollars, say okay guys, I'm doubling and you'd probably like wow, he's doubling I double my risk, double my position expecting that secondary move to take us. you know, from being up two or three thousand to up six or eight thousand and instead would come back to break-even by the time I bailed out I would lose, you know, with slippage and I'd end up being red on the name, going from up three thousand dollars to break-even and that happened more times than I can count in the month of March of April. So and obviously you know, putting the pedal to the metal and being aggressive and doubling up didn't work well in in April but it certainly did very, very well in February.

Well enough that it was probably able to tide me over in terms of profits. But the point really is that I could have had a better month in April if I had been faster to respond to the market and if I hadn't been quite so stubborn I Think that I felt like you know I've had. you know last year was obviously fantastic. Twelve consecutive green months I've had a great first quarter.

I'm just going to continue stepping up my accounts bigger I can trade a bigger size. There's no reason I should be able to continue having big wings, but you know the market is what's dictating whether or not you'll have big wins. It has nothing to do with your account size or you know what you did in the last six or eight months. It's does the market today this month have the potential to give you, you know, home run trades.

And the reality was this month, it really did for me for my strategy. So I'm going to continue as I said. You know, my self-imposed trader rehab through the month of May trading with smaller size. Today was the third day of rehabbing them.

I'm happy with how it turned out. You can see a variety of trades here, both long and short. My short trades were on CNC Are you can see this one here now on this one I shorted off of this first squeeze here because we saw two full. our six eight consecutive green candles Aiken second-degree candles to me I thought okay, this thing is ready to pull back and and that was correct.

So let's see I shorted this right up here at where was it shorted right around this candle Here at 4468 we drop down to a low of 44 sorry of 1468 shorting dropping down to low 14 35 and then popping back up a little bit I ended up covering for $100 Profit 107 wasn't a big win, had the right idea, but you know I didn't didn't make as much on it as I could have ended up going back up to the highs I flipped along for the first 5-minute Campbell to make a new high as you can see right here for 18 I took twelve hundred shares and then I doubled which was risky I doubled it 1450 to 2500 shares and that gave me an average of 14 33 or 35. So 2500 shares from 14 35 in this candle we spiked up to a high of 14 67 so I was up 750 bucks. but then we pretty much immediately came back down and I said I'm not going to let this one go red that's what I won't do and so on. this candle here.

as we broke down, that's where I stopped out and ended up you know, getting $56 profit which obviously was a little disappointing considering I had just been up 750. But the reason I didn't sell it there. It's because I thought this had a realistic target of hitting the high right here. Fourteen eighty from Fourteen Eighty, fifteen dollars was the next logical target and I thought that was also possible Now ended up having the right idea to hit a high for 1540.

My timing was just maybe not quite right. it needed to pull back a little bit consolidate before that next move up and I certainly would have held through that pullback because if I've held through the low of this pullback I would have gone from being up 752, down 750. so it was right for me to stop out. It was just unfortunate that it didn't continue and give me a little bit of a bigger way and that was the last trade I took and that one had the potential to give me to put me back a green on the day.

But actually the last trade I took I was Rd us. This is the second to last one and this in hindsight was an awesome trade. I shorted this right here at $43 4305 and I showed it on this candle right here and again on this one. The reason was because we had this big consecutive squeeze and we were hitting the 200 moving average right up here at 43 15.

So I was like okay, I'm going to short at 43 it drops down to the low of 42 47 it pops up to 43 sideways, sideways and on this candle where it drops down I covered And then of course it ended up coming here all the way back up to 40 310 and I stopped out the rest break-even at 43. So you know this only ended up being $289 not 5 or 10 minutes after it pops up to a high of 43 10. You know, breaking through the high or breaking through the whole dollar and stopping me out, it ends up dropping down to 42 41, 40, 39, 38 dollars per share. So I for sure had the right idea.

but look at that little fake out on the 5-minute chart, the first five-minute candle to make a new high, and then that harsh rejection. So one of the things that I would say is I would never buy a five-minute candle to make a new high like this, especially on this price range. when the price is this high and went so extended off the nine moving average. you want to buy off this moving average when it's floating way up here.

it's a real indicator that's to extend it. So obviously a little annoying Hindsight: being 20/20 it could have just held my full position and probably done a lot better. but at the same time I took a low risk entry risking about 18 cents. and although I could have gotten back in here maybe around 11:15 or so at that point, I wasn't watching it so.

but I think it's good to keep an eye on potential false breakouts. This is the 5 minute false breakout, but it was somewhat predictable because of how extended we were off the nine moving average. When your extended off this moving average going into that first Kim will make a new high. you really increase the chance of a false breakout and that's exactly what we saw here.

So definitely a solid trade. Still $289 though it could have probably been a little bit better. TBH BK This one a little bit disappointing as I mentioned before on this one. I Took a one-minute set up.

We had this breakout on the 5-minute chart squeezed up to 673. a little bit of a pullback and so I bought it. We have this little consolidation oops right here under 650. So I got in at 650 thinking that we would break the half dollar and go back up to 673 and we had this little micro pullback.

These two little candles were the same high, we popped up to 660 and then drop down to 625 and so I had to stop out and that's why that ended up. You know, being a loss and unfortunately the biggest loss of the day. of course you know ended up going back up towards 660 but not before. I Mean really? I probably stopped at the lows, but you never know what whether it's going to be the lows or whether it's could do something like seen at where it goes.

you know all the way down right? I mean how do you know you don't and so you set a stat based on the amount of money you're willing to risk on the trade and you follow that stop and sometimes you're going to stop out. it's going to pop right back up but other times go stop out. it's going to drop another 20 30 % and you definitely don't want to be holding when something like that happens and then see. CCR was my biggest win of the day.

This one was good on both the 1 minute in the 5 minute now I was willing to take the 5 minute set up on this for a long over to 20 although I was nervous about it because of how extended it was over them over the nine moving average. but getting in here at to 2020 500 shares we popped up to a high of 240. so that's a quick 500 bucks. see $550 right here.

So it was a solid train, but it clearly didn't hold those levels and end up coming back down to about $2 So you know maybe this is an opportunity where short sellers would have seen this and you know, tried to take shorts on the spike. but you know I'm not sure what what caused it to drop down so quickly, but either way it definitely got rejected. So a reminder to take profits when you have them now. I Thought that Smcr was a little bit of a stronger 5 minute setup, which is why I was more inclined to hold it longer because it had come down here to the 9 moving average.

I Was a little concerned that it broke that level, but I What I liked was that the volume on these red candles was light. The light volume on the red candles versus high volume on the green candles. So I really thought this looks good. Breaking over 1508 on the daily is a daily trigger that has room all the way up to 24 45.

So a lot of potential in that window, but you know ended up not really capitalizing on as well as I could have. So in total today, I'm actually only down 15 dollars before Commission's took a bunch of trades. you know, 10 stocks trade each of them a couple times so you know today is kind of a flat day and that's fine. you know, kind of treading water until the next.

Green Day So when I'm back on Monday my goal will be. you know, continuing with small size 25 hundred shares max. try to hit $500 in the first 30 minutes. If I can get myself up to a thousand a day, then that's great.

I mean that's definitely back in my mind goal but $500 is the minimum. You know it's kind of the minimum target each day $500 today's 100 grand a year, so you know if I can keep doing that, then that'll that'll be good. If I can keep doing that during a slow and choppy market, then that'll be really good. And and when the market does pick back up and we get back into that feeding frenzy, I can respond, increase my share size and capitalize on that opportunity, but then again, be able to be quick to scale back I think realistically for the month of April You know if I had been a little faster to respond, I might have been able to finish the month up.

I mean I was up 18,000 at the very beginning of the month and the first five or six days and then obviously have dropped back down since then. I Don't know that I would have been able to finish the month with eighteen or twenty thousand because I can because of the red days and the just general general choppiness. but I think I probably could have finished with maybe ten to twelve thousand which obviously would have been better than being red and I would have needed to just take base hits when I had them and not try to go for the big win. Now by not going for the big win, I Also wouldn't probably been up $3500 on some of those trades because the reason I was up that much is because I was being really aggressive on my share size.

So if I had tapered back my share size, if I'd been more responsive I'm sure my you know average daily gains would have decreased versus the month of February or March, but I think I would have finished in slightly better shape. So this is a month where I was a little stubborn I chose to be really aggressive and the result is obviously that I the market wasn't on my side and I gave back profits. So at the probably beginning of next week or sometime in next week. Now once I get my statement for the month of April I'll upload it to the website I'll get it posted there.

it should reflect the $70,000 withdrawal my account and it'll show my P&L for the end of the month. So it'll probably you know somewhere around four thousand dollars in losses for the month of for the month of April and then I'll be able to show you guys my stats for the entire month, my profit loss ratio, my accuracy percentage of success I Know that my profit ratio will be negative. my losers were bigger than my winners and that's because every time I stepped up to the plate for a homerun I got slammed back down I only had one homerun trade in the entire month of April. $6,400 is actually the first day of the month, so you know when you have a one or two homerun trades a week that greatly increases your average profits, right? Your average win portrayed skyrockets when you have one or two $10,000 winners, so when you don't have those, then you know obviously your ratios are going to be lower.

And then of course on the flip side when you end up getting some slippage on your exits with big share size that increases the losses. So my accuracy: I'm not sure where where to land, probably somewhere in the 60s, but the profit loss ratio is probably going to be the thing. That's a little bit more concerning the fact that I simply didn't have any homerun trades that were able to make up for those losses. and I bet my average losses will be bigger than they were in March or in February simply because I was being stubborn I got in so many trades and just got slammed back down I didn't sell them soon enough I was frustrated and I wasn't adapting to the market and so my you know my metrics will reflect that.

but anytime you have a difficult week or even a difficult month, it's a good opportunity for you to sit back and reflect and look at your metrics. For me, this is certainly frustrating. You know it's been a stressful month and it's been frustrating having three consecutive red weeks. But at the same time, I've gone through this before you know I had one day where I lost $30,000 and that day felt like a day that I would never recover from.

I mean it was so upsetting it was so disappointing. But the reality is I totally recovered from it, you know. and I've made hundreds of thousands of dollars since that day. and you know I will likely make hundreds of thousands of dollars, you know in the coming months and years.

So this month will be a little bit of a stumbling block, a little bit of a slow month, a little bit of a setback, but an opportunity to learn. and I think the lesson here is to be more responsive to the market. and just I mean it's kind of. It's a humbling month because it reminded me that I need to be more I really need to be more conservative on my share size.

So you know when the markets not on my side. So you know, even for me, trading for you know, years and years, weeks like this or months like this are an opportunity for me to learn and to hopefully improve my strategy. So you know for me coming on and you know, trading every day in front of you guys and then doing these midday market recaps despite some days that I certainly would have rather, just not even talked about them. We're designed to show you the reality of being a trader that you will have some awesome weeks and some awesome months.

It is possible to take 500 dollars and turn it into 100k, but it's also possible to then have a month where you lose four grand. You know, just a few weeks after hitting that goal because that's the way trading is. You have ups and you have downs. So my hope is that you guys are able to learn from these.

You know some of the things that I'm going through. Even if I'm at a slightly different you know phase and the journey of being a trader, then you guys are that you'll still be able to see these as things that you can learn from. And hopefully if you find yourself in a similar situation which I know many of you probably you know have had three consecutive red weeks or even three consecutive red months and you're probably having to ask yourself some of these same questions: what am I You know, what could I do better? What what it resulted in these big losses, you know. And that means diving into your metrics.

So obviously we'll do an entire recap of the month of April, one side, my statements, and everything like that. But and I'm excited to compare the month of April with maybe the month of February where you know I did so well. They'll be interesting to kind of compare those metrics, but you know the metrics are certainly a reflection of my strategy that I was trading, how aggressive I was being, and the type of market that we were in. And those are things that although they're reflected in the metrics, you may not know.

on the surface that this month Ross was really stressed out, that this month the market was really choppy and or this month Ross decided to be really stubborn and not sell has his losers too soon so we'll kind of. Obviously the narrative is in the daily recaps, but we'll do the monthly recap. My statements are usually available on the fifth, which is next Wednesday but they sometimes take longer. So I don't know.

maybe five business days could be the six could be the seventh. Might not be able to do the mid date or the month recap until early the following week, but in any case, we'll get to it when when I have those statements and we could sit back and kind of look at those and as soon as my trades from today are are logged in trade review always be able to see the big picture of my stats. So I'm excited for Monday It's the beginning beginning of a new month with you know, a set of rules designed to reduce my stress to trader to focus more on those small gains. 500 Here, you know, 300 there.

and because again, I know that that's what most most of you guys are looking for Anyways, you're not swinging. You know, in a position where you can swing to the fence for a ten or fifteen thousand dollar trade. You're trying to get consistency base hits. So yesterday was, you know, a little bit of a bump.

but today back to focus and even though I'm closing slightly Raddatz it's totally within the parameters of the strategy and with the new kind of rules of of Trader Rehab. Okay, so with that, I'm going to go ahead and let's see end this video and upload it to Youtube. So folks watching on Youtube you know, put comments down below those of you watching live. You can ask a couple questions and I'll answer them and then we'll We'll go grab some lunch for today.

So Dave I think Jeff or maybe Mike can put up scanners I'm not I'm not going to have my scanners up I Don't think I'll be able to have them up all day long. Mitch I mean I think that obviously shorting the higher priced stocks worked out well today on Hardy us and on Smcr and I've wanted to be more mindful of watching them when they hit my scanners or when I see one that does look really good. Today we didn't happen to see a lot, but we saw those two and so yeah, I think I will be more apt to trade those. That's the interesting thing is that when you're trading when you're going for homerun trades trying to get five or ten thousand dollars, you don't trade reversals because the high price reversals.

you know, $50 a share? you can't take 10,000 shares of that. you can't take five. That I mean take 5,000 shares. You're putting a quarter million dollars into the market I mean you just don't feel comfortable doing that And so inevitably you look at those trades and you're like, well, best case scenario, like Rd U.s.

you know you take a thousand shares. Maybe you make five hundred or a thousand bucks, but even on Rd U.s. if I was, if I was going to make five thousand dollars on this, I would have had to take some share size and that would have been a lot of risk. So when your motivation is to try to get big trades big wins, you focus on the stocks that will deliver that.

And that's not reversals. When your focus is trying to get you know, maybe three, two hundred fifty dollars each day so you can hit seven hundred fifty bucks. Well do you start to become a good vehicle for that type of target? So I will trade these probably more in the coming months when I at least are in the coming week sillies, but at least when I see them on the scanner. So the type of stocks you trade is definitely a reflection on the strategies that you're and you know that you're trading the scanner that makes noise is this scanner in the back? The low float scanner? That's the one that has an audio lure turned on.

No, no class today Dave no classes on practice and next week Love class on Tuesday Wednesday and Thursday my share total actually I'm not sure what my total shares are I already turned off the laptop I was trading on but it wasn't a lot I mean I traded I took the thing 9 trades 2500 shares each. So you know, say 10 times 2500 is 25,000 25,000 buying 25,000 selling is about 50,000 shares maybe and JC Usually when I'm trading with large share size, they don't trade more than one stock at a time because I don't want to I want to focus 100% on the one that I've got all the risk on. But when I trade with smaller size, I'm more likely to take a couple trades at once, maybe two. All right.

So um, with that, I'll let you guys go and I will catch you all first thing Monday morning I Hope you guys all have a great weekend. All right! I'll see you Monday morning.