What's up guys happy monday, so we had a huge gap up across board with a large cap market uh with a vaccine, positive news, 90 effective rate um, that's bullish, everyone's looking forward to that um as well as the election results finally announced. So you know i was looking for more of a you know: trend joining uh one directional market today, and it was actually kind of choppy um after the open. I think you know everything just gapped up a little bit too big too fast. So today you know it was a little bit frustrating i'm still agreeing on the day, but i was trying to size into the biggest trade and it didn't really work out.

So a lot of the big trades turned out to be small winners, which is fine at the end of the day. Um, you kind of just have to take what the market gives you and maybe we'll get a big move tomorrow or later down this week. Who knows so this one, you know, had a huge gap up from 14, all the way to 19 free market. I was looking to short for some at least some profit taking at the open um just because this stock, you know, has a history of selling off some gaps um, but i was shorter early.

I was wrong early on when i stopped out you can see. I took a nice loss on starter size in the front side, but it's only once that you know this view up level failed. I started scaling shorts again and it ended up working out well and i was covering on the way down here, most of it around. Eighteen dollars in bottom ticket, i was thinking that we might actually get some more follow through to a downside.

Maybe you know a nice retracement to around seventeen dollars um. That's why i really shorted it didn't work cut it. I re-hit it again. You know this time around.

I did get some. You know nice short side. Things just got a little bit too too choppy with the market um and we were kind of consolidating with the rest of the stocks um. So i took took it all off um.

You know in hindsight you know, i should have you know, left it on till around 18 mark, but um kind of got chopped up around here. So that's the part where i was kind of frustrated. I did add back uh and trim some and re-entry and re-entered short and i'm happy about that. But i don't think today is the day with the big move you can see after this no double bottom, technically speaking, right very easy to see.

You know a low here prior low pre-market, and you can see we held that low at the middle of the day around 11 o'clock and we just reclaimed very slow, though like it's, not a violent breakout, move that i had wanted. If i were to go along the reversal and we're kind of trading around this range, so it's gon na chop now around midday, so i i want to stay away from that. I just want to take the meat of the move. So, even though i didn't get a big move, um i had wanted on ccl today.

I think you know, maybe tomorrow we'll get that so next one is amc, entertainment um this one, you know the same thesis i had with um ccl. I was looking to short the retest to previous pre-market levels and we got that around four dollars. You know i didn't size into this, just because i was focused on ccl and when i'm trading multiple stocks. At the same time, i usually focus on one or two with the most size.

This one was kind of like a side plate. I had a decent entry and shorted on the way down covered at the bottom here nice one dollar share, but i gave back everything on the grind back up here: re-shorted re-shorted, some more covered. All of it basically started giving back profits from the initial trade. Doing that again here, the reason i'm wenting back short here is thinking that oh four dollars failing after this fails, i think we're gon na retrace back to 370's.

I was wrong um, so i actually covered for a nice loss basically gave back profits from all the shorts in the morning, um red on the sticker, and i went in long you can see. I went in long starter, 403 added to full size 408 and then we got like a small push to 420. today was was not an easy day. This is what i mean right.

You know we had to trend down. We had a nice reversal, but the reversal was just so slow and so weak. That's why i didn't think um. This is a true reversal.

That's gon na test, the upside um, but you know your living. You learn so acb or cannabis. So this stock, i actually lost money on friday, both on the long side and the short side um. But today it worked out well for me: um they had earnings.

You know some nice earnings call um. You know b-town revenues etc, but we're just very extended on the website and um. You know at the open. We got this nice push basically to test the pre-market heist level around 14.60 and that's why i went.

In short, the initial idea was just a scalp right. I shorted it covered most of it here, but i left half of it on, as i watched ccl trade and this one actually, you know, gave me a lot more than i thought um. You know i wasn't sure what it's going to tank down to, but it actually went all the way down here to about 1180s level. So that's why i went out and covered all of it and i actually wanted to learn the reversal, because i think acb will gon na get more move to the upside um, maybe not today, but potentially later on in the week um.

That's why i went in long here didn't work. You can see how longed around 12 30 didn't work out stopped out. I tried it again thinking that, okay, like maybe that was just a fake out breakdown. Um didn't work again, so i cut it so i lost on the long side on acb and once it stayed so weak.

I just went in short again thinking that okay, it's heavy like i don't want to fight the trend um. I tried it twice and ended up with a small loss and that's okay and i'm out on the long side, so i reshorted it um around 1170s covered all into 11's, tried to redo it again, no decided not to outstay my welcome that was around the time. I started giving back a lot of profits, so you know take the meat of the move and move on it's only monday. There's the market market's gon na still gon na be here tomorrow and uh for four more days this week.

So next stock is mrna. This is a stock, i'm very familiar with i traded a couple of times, maybe a little bit more than a couple of times in the past. This one is also up on sympathy play with um pfizer right with the vaccine, news um, you know so they were up. You know from 72 all the way to 81 pre-market.

This was just a scalp for me at the pre-market level, sculpted here, 80 shorted down to 78, and then i covered everything at the open around 76. The reason i like playing the stock is because um it gives very nice range up and down. I will come back to trade this on days, where it has volume um. So even with you know, even let's say you only have 100 shares 100 shares a short at 80 dollars down to you, know 78 and then 77, that's decent profit.

So this is the kind of stock i prefer to trade. Big range, big breakout, as opposed to you know. Stocks like you know in hindsight cc. I wasn't the best pick just because it moved so slow and in such a tight range, but uh marina was good.

I reshored it uh once i reclaimed, i got out uh reshorted here covered some and then you know got out as well and i tried to go back in reshorted here, 78 down to 77, so decent small play for me, but you know in hindsight it's actually The cleanest play from all the stocks i traded today, amc was, i got chopped up. Ccl got chopped up, um last trade onct this one i did. Okay, i didn't i didn't know the focus for me wasn't on the small caps today. I wanted to trade.

The big caps uh, but this one turned out to be a nice scalp. I did take a loss on it uh over here and then over here you can see. I took the loss on this twice. I took some profit on the short side.

First um, once it reclaimed, i re-shorted it got squeezed out, took a nice loss here on the front side and you can see uh once it starts wicking and rejecting the 620s area also pre-market and after hours levels. Once i reject when i went back. In short, six tens, six dollars that breaks down, we got uh five sixties and even lower here and we're fading down to five dollars. This is not a stock.

I won't uh i'll stay. You know i traded it. I think yesterday. So you know yesterday, friday and thursday, each time it seems weak it reclaims and like try to spike um.

They didn't do that today, but that's why i wanted to stay safe on it. Um, but still, you know, took a nice loss in the front side. Um. It's okay to be wrong: um, just wan na make sure the losses are like relatively small.

So i kept that small and that's the reason i can go back and re-hit it short uh. Once i see the resistance area holding up so yeah small green on the day for me uh, i was looking for a lot more, especially with the big caps like ccl and amc and then, of course, acb on the long side um. But i think we just need the market to kind of cool down consolidate for a little bit and see if we can get a big move um later on in the week. So well, the first question: on the day john rock is asking hey: can you tell when was your aha moment like when you felt like you got trading figured out, so it's not like there's a single thing or like a single answer.

That's gon na solve all your trading problems and turn your trading around uh, just like a v-shaped bottom. It doesn't work like that. It's a lot of small things, that's very important, but you needed to build up your foundation. So while i cannot tell you a single moment, i can tell you a series of small moments, so no it's things like risk management.

You have to start taking it seriously at first you're gon na feel like it's a waste of time. It's gon na it's gon na feel like it's. You know it's slowing you down in reality, it's actually one of the many things that's gon na you know start stop you're bleeding your account and start allowing you to see some momentum and that your losses are going to be more controlled. Once you take risk management seriously and then that's once you stop losing so much it's where you can see your gains start to compound in trading.

It's not always about how much you make it's actually more about how much you don't lose. So when you lose, you lose a small amount right. Obviously, you want to keep on making gains, but you want to learn how to control your losses because it's normal to have pullbacks, but you don't want to have a drastic sell-off on your p l curve, so risk management, that's important. It's one of the things that you need to start implementing.

If you really want to see your trading turnaround and not turn around point, it's not gon na be like a single moment or like one day you just have it all figured out um, it's gon na be slow, but that's the truth and that's the process of Trading for you um, so risk management is one. Another thing is um start creating your own plan and start. You know trading your setups instead of just chasing chat, room alerts or what everyone else is talking about. You should use chat rooms as scanners and as idea generation it shouldn't be uh.

The reason you're in and out of a stock is because you see someone else mentioning it, and another thing is, i can think of is um. You know: try to trade, the price action trader stock and stop looking for secret sauces or shortcuts or secret indicators that will make you profitable because it doesn't exist. You have to put in the work second question: what price action candlestick books do you recommend i can recommend you some books, but i'm just gon na put this out there. You cannot learn how to trade price action from reading a book.

I'm not trying to be mean, but i think the best way is with screen time. You have your broker platform right, just sit there look at how the stocks are trading, how the candles are moving, how it rejects the resistance or bounce of support. That's how you learn price action, trying to learn price action from a book. It's like trying to learn to play the piano or play basketball from reading a book.

You have to learn by doing it right yeah. So that's my recommendation, for you know if you really want to learn price action, you can learn about all these candlestick charts candlestick patterns and if you just google candlestick patterns, you see a lot of those things. Uh and those are just individual small pieces of information that might help, but if you really want to learn how to execute them, you have to you know, paper trade, look at your broker platform, there's no shortcuts around this you're, not gon na find an answer to Your trading from one book or from one youtube, video right - it's a it's gon na, be accumulation of a lot of information that you have to start taking um into actually implementing them in your trading. So i'll link a video on the trading books.

I recommend in the description below, if you want to check it out uh, but you know it's important: it's good to learn about psychology, discipline, et cetera and even the candlesticks to learn how to execute. You have to learn by doing all right guys, hope you learned something from the video uh. If you did, please remember to drop a like at the bottom of the video good luck guys and, let's hope the market picks up later this week. Hey guys, thanks for watching, i hope you enjoy the video and the bad jokes if you want to see more day trading content, make sure to subscribe and follow me on twitter and instagram for more.

If you'd like to trade with me daily and get my free weekend, watch list and trading journal make sure to check out the links below for more resources. Stay, green, stay, positive and i'll. See you guys next time.