Next stock lmfa, i seriously just - cannot take this stock seriously because uh, i read it as laughing my ass off happy monday, everyone and in the morning session, with a small, green uh. My main watch on the day was neil um nioh, so the stock. You know if you look at the charts, you know we're trading at all-time highs and uh. They have some pretty good news over the weekend with neoday announcing new products and new partnerships and a lot of analyst upgrades today.

So overall i'm long biased, i'm neo. So i had some no pretty decent entries on did buy um and then, unfortunately, i didn't sell into the breakout um, because a lot of times i'm a stock like an io a lot of times. We see continuation on the daily um. I really thought we were gon na hit 70 dollars, but unfortunately we didn't know it was kind of tough uh.

Seeing that i was up a lot. You know i was up from 63, even at the 63 80s and then you know yeah. I was up like three dollars: a share four dollars almost and didn't sell into it. Uh, because i was trying to hold and be patient for the big move being that it's already um um.

First uh 10 minutes of the trading day. I was trying to be patient and let the trade work out, but unfortunately we sold all the way back down and i stopped out of some position and once we bottomed around the 62 50s um, i read the backing added on the way up here. I'm not afraid to add higher right, because i have that big picture thesis on the neo-long, but unfortunately it just couldn't break out and hold the 65s and re-test higher um. I did go back in smaller size after these cells for some smaller scalps but um.

You know right now we're reclaiming 64 v watt, i'm out of neo for now uh a little bit disappointed, but also, if you also have to think about it. If a stock, you know sold off from the highs and consolidated which it did for an extended period of time from you know, basically around 1020s to the 1130s 1140s area, they held the 63 dollar this level they held these level firmly. You can see it retested once twice three four times um and each dip they got bought back up, so i'm still bullish on neo. I think we might see more continuation to the upside on the daily um, but i don't know if that's gon na be today.

Uh could be this afternoon or tomorrow, um, so overall, the long turned out to be a small win um, which is okay, but you know us day. Traders were never happy right, even if we're ending with a small profit, but if you have to think about it this way, all your trade should have four potential results: small win, big win, small loss will break even so those were the planned results for the straight. So ended up with a small wing on this, which you know it's: okay, okay, i'm a little bit disappointed. Okay, okay, i'm disappointed my main watch on the day really was just an io and uh.

I was really looking to capitalize on the dead bikes and on the long once it starts trending, but when, when nio is doing this choppy action trading in a channel between 65 dollars and 63, it's hard to trade unless you channel trade um for some small scalps, Which you know it's viable, but you just want to make sure you are using the levels and being patient with your entries. So next up we have lmfa. So this was just a tiny scalp trade on the side for me, and i just cannot take this stock seriously because it just sounds like laughing my ass off, but this stock was a small shorts for me on the side. While i focused on neil um, you can see the stock.

You know i had a pretty good run up after hours and uh pre-market today is sold out from four forties and all the way down to two sixties and then out of the gate we had to push towards. This 370s had a small short, just scalp size and then shorter on the way down 320s added, some three trends and then covered most of it around 280s, and then we entered once. We failed that three dollars repeatedly that breaks you know and it starts holding around here. That's where i took out all of the short and the stock is reclaiming, and you know kind of just sideways, but the daily chart still looks like it got sold off from the highs, but small straight on the side, just a scalp for me, uh we'll see If this consolidates for a bigger move, it seems like they're, slowly trapping shorts here below v-lap um 280s and holding a higher low so we'll see if it gives us a a bigger move later on.

So let's go over some q a shall we uh. So the first question is basically asking about the time frames. What time frame i use to trade. So when i'm trading the open, especially when it's very volatile, i prefer to use one minute and i do think the time frame you use for your trading would be determined by your trading setup.

If you are more of a trend joining on the large caps for them all day long for the breakout moves, then i think those will be good with higher time frames such such as uh, five minutes or even ten minutes. But if we're doing the momentum trades, especially when a stock, that's very volatile with your cat trying to catch the dips, i prefer to use one minute, or sometimes it's two minutes as well um. So that's just kind of how i see it. There's no one time frame that fits all your strategy or your personality or your trading style.

It really depends on how you trade, generally speaking, if you're trading the faster setups, like the momentum trades, that we just talked about um the parabolic moves upside and downside um. The lower time frame is preferred, and i just think the price action moves are clear. On the lower time frames as well um, but as for swing trading, you want to use the larger time frame such as um the hourly charge four hour chart or the the dating chart for your swing trades. So again, it depends on your trading strategies or your setups um.

If you are newer to trading, if you're a beginner, you can start with a five minute time frame or the three minutes as well. So the second question is a good question. Um. How much is your equity in your trading account, and what do you suggest? Should we pile up the profits in the trading account, or should we keep our equity fixed and withdraw our profit and have backup in case the account will blow up? So i think um.

This is a really good question. It's one. I get asked a lot by my members um. I always suggest that if you can um treat your trading like a business, so just like a business, you pay out salary to employees every two weeks.

So i would do the same with your trading account if you can and obviously, while you're on the road to building your account to be pdt. That would be a little bit more difficult because you want to go through that 25 000 mark. But i think once you're over that it'll be a good idea to take out um to pay yourself. You know even a couple thousand dollars or whatever you need every two weeks.

I think that's a good idea, but i will say during times of volatility, where there's a lot of place, i tend to keep more equity in my in my accounts, so it depends on the market condition if it's, if things are slowing i'll, definitely you know keep It fixed at a certain amount, but if there's a lot of opportunities then i will you know, maybe just withdraw a very, very small amount. Just so i can say i have done it. I have paid myself out, but, generally speaking, um you, i think it's a good idea to treat it like a business and pay yourself every two weeks, um, because you know unless that money is in your actual bank account, you don't really see it right you. Otherwise, it's just in your trading account and, like this person said um, you know a lot of times when we're careless.

You know that could lead to a big blow up and you you lose like two weeks or even a month of your profit and then that's the time where you'll start questioning. Oh man, i wish i paid myself out um every two weeks, just to lock some profits in in your actual bank account. Now. The third question is from nick um he's asking about.

You know trying to average into a bad position and keep changing my strategy. How do i know when to drop a trade? Do you have a video in more detail, so a big no-no in my playbook in terms of day trading is uh never average down to a loser like i, if you guys have been following me with me for a while and watching my recaps uh, my my This is again, this is just how i trade. I would much rather just drop a trade when it hits my stop-loss, then to keep on holding and hoping and averaging down and hoping for it to reverse for the stock to go back to green. I kind of look at it.

This way that stocks they tend to trend, whether it's to the upside or a downside for at least an extended period of time. So why add into a loser and put more of your hard-earned money in the losing position when it's already trending down, then i just rather get out of that initial position for a small loss. Then i can use that capital to go back into a different trade. That's already trending to the upside, so i'd much rather add on the way up than to keep on averaging down to a loser.

If that makes sense. So the short answer is just have a stop in mind and follow that before you enter into the trade, because unless you start doing that, your winners are gon na be smaller, because each green, you see you're gon na get out and then your losers will be Bigger because you keep on averaging down so hopefully that makes sense to you guys. If you have more questions on this, you can leave them in the comment section but uh in my trading rule book averaging down to a loser is a big, no, no um, because that's the biggest reason most people blow up they'll keep on averaging down putting more Money in the losing position to a point where, on the winning position and the trades that's actually working, you don't have any more capital to add into it. If you have any more questions for me feel free to leave them in the comment section below.

Thank you guys for watching and i'll see you guys next time. Hey guys thanks for watching. I hope you enjoyed 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.