What's up, everyone? All right. So second red day recap in a row. Here is a very typical red day recaps for me: Red days are often clustered together, I go on really good hot streaks, and then I have a red day and then I start to kind of slide and get too sloppy and emotional, and a couple red days sort of stack together and then I cool myself down the market. hopefully in that time starts to smooth out and then I go back on to another hot streak.

So I'm I'm definitely. Um, you know these are two big big red days for me. Down 25 000 today down 37 yesterday. So these are my two biggest back-to-back red days I've had in a a good stretch.

So I'm gonna have a kind of long recap today where I talk a little bit about emotionally what's that, what that's doing for me and where I'm at and I hope you enjoy it. So as always, trading is risky. Easy come easy go. In a market like this, I can lose 25 000 like that anyone can so be very mindful of that.

You should be trading a simulator. If you're a beginner trader, you should not be putting real money on the line because most beginner traders lose money. Alright, so I hope you enjoyed the recap. Please hit that thumbs up if you enjoy if you get something out of it and I'll be back on added on Monday, hopefully kind of clear the slate from the weekend.

Um, those who want to study up a little bit over the weekend, jump over Worrytrade.com You can check out lots of resources, lots of guides, lots of terminology pages. We have lots of stuff specifically for people who want to learn about day trading. So check out the website and I'll see you guys first thing. All right everyone.

So um, second red day recap here down about 25 000 between my Uh. two accounts read on. Uh well. three out of five stocks I traded.

First trade of the day was on Orph and on this one you know I was really not super confident on it. I mean it had this huge gap down 50 gap down overnight and then it's already had filled the gap quite a fair amount. Um, but I did get a trade on it at the open. We did get this pop.

I didn't jump in it aggressively with big size, I kind of chased it and I did it with smaller size and I I just didn't feel super confident. So I made 2 000 bucks on this opening candle right here. It ended up going a little higher later, but not a lot and then it kind of pulled back. I actually I did take sorry a second trade on it for the second.

a break of nine right here. but that was a small winner as well. So anyways, two thousand dollars total profit on Orph. Uh, my second trade was Utme lost ten thousand on it and this is the one I lost on yesterday.

so kind of did a little revenge trade on it. you know I. I looked at this and I actually liked it a little bit better for a a bounce off the low Huge sell-off yesterday. I got in too early for a bounce and and took a loss on it.

but I thought if it broke over 2037 then 2036 was the next target, then 22, then up towards 25. we've certainly seen that happen before, so this was a little bit cleaner to me in a way than Orph because it wasn't as extended going into the open. So at the open it sells off, then it starts to curl up and as it broke through high of day of 640 I was like okay I'm going along red. This is a red green move Now typically a red to green move the entry would be the first, the second the candle makes new high which would have been 19 but I wanted to see if it would break V web so I got in a little high and I even added uh for the break of 20 and then in this candle it just immediately flushed all the way back down to 18 and I stopped out with a 9 000 loss.

Boom! Second trade of the day I'm down like 10 grand. you know, close to 10 grand. So then my third trade was on Alf and Alf I jumped into uh it squeezes into a halt. I was not in it before the halt.

it then opens higher and I jumped in it. Uh, for the break over 734 which was a long it's like a 10 second kind of micro pullback. I got in basically like right right here for the break over the high. A day I was like, okay, it dipped, but it's it's bouncing back up.

but I got in a little high and then I stopped out as it flushed down here. so that was not great. Uh, took a good size loss on that. probably had a little too much size on it.

That was a nasty false breakout right there. and then um, waffu popped up and I took um, or I had. I had to trade on this. um for the break over.

um, what was it was like the break of, um, eight. I got in it pretty early. uh, but then I I sold it pretty early as well. and then I got back in a little high.

uh, right up here. And then I gave back half of what I made on it as it came back down. So that one I didn't trade super well either. Um, so that was kind of a mess.

and then, uh. over in my main account I got smoked on Amc, so I shouldn't even be trading it. You know. I mean, this is my thing with these types of stocks.

Amc Gamestop. I mean I I. typically don't do well on them because they're so choppy. it's not high relative volume today and I traded it at a desperation.

I. I was just hoping to jump on the stock that was moving and catch a easy winner and help recoup the losses. and instead I doubled my loss on the day I got in right here for the break over 64.50 I stopped out down here like an idiot. Then it comes right back up here.

So I feel like a total idiot today. I just came in and threw away like 25 000 like that it's gone and I'll tell you man, in A in a cold market I can lose 25 grand so fast. It's not even funny. and that's what I did today.

The market was cold. You know we didn't have a good gapper I said yesterday. I'm not even sure I want trade today, but um, you know I I can't not trade. it's I.

I'm just so in the market. it's almost impossible for me to take a day off. So I I don't take days off. I I trade through it and you know I get caught with these big red days because I don't follow my own rules and then you know I'll make it back next week or whatever it is.

I would be such a better trader and I would probably make so much more money if I had the discipline to truly follow my own rules and and truly trade the market. I'm in and acknowledge when the market is is choppy and slow. I've been doing this a long time and I haven't been able to. I haven't I haven't gotten there and I don't know if I ever will.

To be honest, I and it's not like I mean, I'm It's not like I'm not doing well. I am up over two million dollars on the year right now and I was up five million last year. So I guess it's big picture working for me. But you know, days like this are totally unnecessary.

Yesterday was totally unnecessary. So I've you know, lost like fifty thousand dollars in the last two days. In basically just kind of, um, you know, emotional trading where I I don't I haven't been following my own rules very well, so that's always disappointing when I do that. and um, and I.

I You know, I think that a lot of traders struggle with it and that's why I share it with you. Just you know. Honestly as can be like this is this is my life. As a trader.

It's It's not easy and it's a struggle. And it's an emotional struggle more than anything else. I have the physical skill and I understand the markets well enough to do well. I don't have the ability to, um, hold myself and hold my hands and hold myself back when I'm when the market cools off and then what ends up happening is, I'll have you know, 10, 15, You know, 20 green days, Good green days, and then you know, four or five red days I'll give back.

You know, half of what I made or a third of what I made. And then the next hot streak starts. So you know my kind of, um, my my, my. trading, you know, is kind of just always in these you know, these waves of giving back profit.

But what I'll say is that, um, I mean, I think to a certain extent that's true of a lot of traders. and I think the personality that you need to have to be able to be a successful trader requires this kind of irrational aggressiveness. uh, and overconfidence in the market Because we know 90 of traders lose money. So to be so naive to think that you would actually make money requires you to obviously have kind of like, you know, uh, some type of malfunction and I, um, this is the these are the areas where it comes out for me in a negative way.

where I have losses. Of course, I can be irrationally confident when stocks are really strong and make a tremendous amount of money, but then the confidence is still here, even when the market's obviously terrible. Um, but in my early years of trading, um, you know I was trading more like that where I'd make a thousand lose a thousand, make a thousand lose a thousand. But in fact, actually, it was more like this because I was.

Actually, you know, I was actually losing more than I was making in my early years of trading and I was having to take money out of my account to pay bills and I was having to add more money into my account to get myself back above the Pdt level and this and that. So I think the experience for a lot of people is going from um, you know, as a beginner. I would say for anyone who has found success in trading, it probably, um, is a curve that kind of looks, uh, and I'm drawing it here. I would say it probably looks like that for most For most traders who find any degree of success, it starts with losses that, uh, I don't know why it's not focusing.

It starts with losses. uh, and then it starts to base out and you have this period where you're still red in your endeavor to learn how to trade, but you know you're You're kind of like breaking even. You make a little, then you lose a little, then you make a little, then you lose a little, and then all of a sudden you realize it's been like six weeks since you had a loss and your account's grown a little bit. And then the next day you take a stupid loss and then you go another four or five weeks.

You know nice progress. And then you take another stupid loss. and so now they're getting kind of further apart, they're less frequent, and and then that's when you start to see growth in the account. Unfortunately, the fact is that that stretch right there.

I mean that could be five years. For some people, it could be five months. It could be five years. I mean, it's the what dictates when you will start to flatten out.

Um, and when if ever you'll start to actually flatten out or make progress. Honestly, a lot of it does come down to emotion. You know? I mean I would say that it comes down to a combination of emotion and then overall strength in the market. I've had the good fortune that this market has been really strong for the last year or so a year and a half, which has been great, but I've also had periods where the market was more consistently choppy the way it is.

Um, the way it maybe was like yesterday and today, and during periods like that, I could go for a month, you know, without having a really big winner. And it's It's just kind of draining, although, um, both emotionally and financially. Although what I will say is that I I do think that we are in this sort of new stock market. um, where there's more market participants than there have ever been.

There's so much interest, Uh, certainly from Reddit, and um, just the general public about active trading that I'm not sure that it's gonna cool off the way it did in the past. I mean, I don't know, but I I feel like possibly trading has had this tipping point where it's becoming more of a mainstream um, topic. More and more people are aware of it. The opportunity? As risky as it is, so I don't know.

Maybe we won't see the you know, extended slow periods that I'd seen in the past. I hope not, but you know, only time will tell. So in any case, um, today, it feels like you know I'm super disappointed. Second red day in a row down.

Fifty thousand dollar. Over Fifty thousand dollars in two days? Um, sixty like Sixty five thousand dollars in two days? Just you know. total total lapse in in in sort of my emotional and disciplined type of control. Um, going into the weekends just a real drag.

But you know, on the other hand, it's like you know at a certain point and at my level, which you know, there's a lot of people at my level. There's a lot of people at levels like way way beyond me, but probably most, uh, people watching this video are not at my level. So you know, when at my level, you know, having a twenty five thousand dollar loss or losing fifty thousand dollars in two days is it's not gonna really change anything. It's I wasn't planning on.

you know, spending that money on something else. It's not money I needed to pay a bill, It's money that was in my account or in my retirement account. So it's sort of like the money. Then at that point is not really.

Um, it's not really a factor, it's the emotion. It's what losing money means to me. What it means to me is that I did a bad job today. I'm I'm bad at my job.

That's like. what I tell myself is wow. You're a real. You know there's just fill in the blank whatever you want.

And that's how I feel about myself because I came in to do a job and I completely failed at that job today. And I did yesterday in a row. So now two days in a row of completely failing at my job. That's where I It's more of a the way the loss makes me feel what it means.

it means I'm bad at my job. I, um, you know it's embarrassing. It's it's upsetting. It's feeling frustrated that I don't I'm not able to, um, you know, have the common sense to know when to stop and this and that.

And in those moments you know there's a complete disregard for everything I've accomplished. It's like none of that matters. You know, none of that matters. Like I've accomplished this, or I traded this much or I'm up this much on the month that that doesn't.

You know. It's like I could say those things to try to make myself feel better. but I know that they're just things that you say to make yourself feel better about the truth that you suck today. So I'm so hard on myself and I don't know if other traders are as hard on themselves as I am.

Maybe they are, Maybe they're not. Maybe. Like I said, this is part of my like, um, sort of like system error where I just like beat myself up too much and you know, end up just putting myself in a situation where, um, I just am being so negative on myself that it almost becomes a self-fulfilling prophecy. Because to a certain extent you do have to.

you know you, your, your perception, your attitude can influence your reality. So when I start getting really down on myself about my trading, you know it's going to make me more likely to hesitate, second guess myself, and then overcompensate later by chasing or getting in something too high. And so this all comes into. Um, why Trading is is so difficult? Because it is a mental game every single day.

It's a mental game you against you and the market is what you know is sort of the battleground. but it's you versus you. So I lost, uh, that battle today. I lost it yesterday.

Uh, but um, I I know. big picture that life is good and it's fine. I'll no doubt recover this rather quickly. I had some great days earlier in the week.

I'm probably I. Realistically, I'm probably flat on the week right now because I had a great, i think thirty thousand dollars on one day of the week. Um, what was it? Let me just pull it up here. Um, so you know.

And I do. I say this to make myself feel better. Yeah, I guess a little bit. Um, but is there also value in making yourself feel better and not just constantly beating yourself up? Yes, there certainly is.

So I was up about 65 000 on the week before yesterday. So yeah, I'm back to flat. I'm gonna be probably red on the week by like five grand. So these two days wiped out the previous three days.

So starting on Monday it's like this: Just pretend that that week never happened and started over Monday. Basically the same as I was right here. That's not the end of the world, right? If I can really, truly believe that and put myself in that headspace, then I'll probably have a great week next week. If I spend next week just focusing on how much I'm down and how much I need to make back and you know this and that, then I'll probably continue to struggle.

When the losses get bigger and bigger and bigger, it becomes harder and harder and harder to be positive and to talk yourself out of those negative thoughts that you feel about yourself and about trading and this and that. So half of trading is sort of managing your trading in a way that you don't put yourself in a position where you create an emotional obstacle that could be become almost impossible to recover from. For instance, you know, if I took a one or two million dollar loss trading for me? I? I don't even. I mean that that could be so devastating it would no doubt take many months, if not potentially years to recover from financially.

just. I mean, I'm up two million dollars on the year. It's been six months, so if I lost two million dollars today, it could take me to the rest of the year to get back to flat and that would be in great market condition so it could take even longer, you know. So for that period of time, uh, I I would be just every day having that cloud over me.

So how do you? How do you kind of operate when you have a cloud like that And I'm just going to think it out loud because you know what? I bet there's people out there watching this that are like yeah, dude that I am down 200 000 in the last you know, couple years trading or whatever it is and I I feel like that that is your two million like that's an insurmountable obstacle. how can I ever recover it And so um, what What I would probably say to myself if I just lost two million dollars and I said man, I'm down 2 million Oh my God I would say all right. Well um, in in my situation, that loss, um would still be in the context of my overall career if that loss was like day one. I came in the market and lost two million and was like wow, how do I recover I don't know that I would even want to continue trading because my first experience was digging a hole so deep it might be impossible to recover from.

so hopefully there's no one in that situation. But you know, if you came into the market and in your first six months you did lose a lot of money, then you have to ask yourself, Okay, I'm clearly not a profitable trader right now. what is the path for me to get to profitability? What would I have to do? And so I I would say one of the things that would be really hard to do but would be necessary is to stop the bleeding. so I would.

If it were me, I would stop trading with real money and I would switch to a simulator and the justification to not do that would be that Well, I need to make back real money and I'll never make back real money in A simulator and while that's true, the reality is that you're not worthy of trading with real money based on the way you've been trading for the last X period of time and based on how much you've lost. So until you can start to prove profitability in a simulator, you can't trust yourself with real money. so you might as well. You can either stop now while you still have something left or you could blow everything you have left and then train a simulator.

Then I'd say might as well stop now. might as well take at least what I still have and preserve it. So then I would trade in a simulator for a while. If I was able to prove profit building a simulator, then at that point I would begin to shift towards, uh, trading with real money, but with really small size for a period of time.

It's kind of like the bootcamp is trading a simulator, your halfway house is trading with real money but with like 100 shares. And then you start graduating up to 200 to 400 to 600 to 800 to a thousand progressively as you prove that you're maintaining your metrics so it's a slow, it's over a slow period and so during that whole period. Ultimately, what What I've done when I've taken a big loss and I've known it's going to take weeks or months to recover from it? I, uh, try to pretend that I I just I. I've literally like I used to write my P L on a calendar.

Kind of like what you have here and when it was a physical calendar I would take a little piece of paper and I would just put it over that red day just like that and be like nope, that's that's over the red day. I'm just gonna pretend that didn't happen. Um, how is it helpful to pretend something didn't happen? Well, it stopped being the focus and um, that by itself allows you to bring more productive and more positive thoughts into your focus into your sort, of, you know, right in front of you. So kind of for you know, a big loss.

If I lost 2 million bucks, I would say all right. Um, well I'm not going to sit here every day and see how much I still have left to make. Oh, I still have 1.9 million 600. Whatever.

You know, 1 million 965 000 left to make. Oh, I still have 1 million 962 000 left to make. I wouldn't be looking at it every single day. That would be a demotivator.

It would be the focus. I would stop thinking about it. I wouldn't look at it. I wouldn't look at it for months.

I would just I. I would just put it out 100. I would say I'm not even going to entertain a thought of checking to see those numbers. I am just going to focus each day on each individual day, trying to be a good day.

And I wouldn't look at where I sit on the month, I wouldn't look at where I sit on the week, I wouldn't look at this type of calendar. I would. Just you know, I just wouldn't look at it. Now I I might to check into to make sure I'm actually making money from time to time.

I I might There might be something that I would need to do, but I would just do my best not to try to, um, view that gain as oh, I'm just gosh. I've made 25 000 in two months which could be terrific for someone, but if it's after losing a huge amount, it no longer feels good. So I would try just focus on the positive, try to keep rebuilding. But um, you know, but if I lost two million and then I uh, made back like a hundred thousand and then lost another two million, you know, then then I might be getting into a situation where I'd have to say, you know what, I might have to actually throw in the towel here.

I might actually have to stop doing what I'm doing because it's not working. You know, Maybe I would give myself one more chance to turn it around, but at a certain point there has to be some acknowledgement of is this working or is it not. If it's not working, it's not. working, I hope that I'm never in that situation.

Uh, today is certainly not that situation. You know, I'm down 25 grand. So now I've just managed to make myself feel like wow. 25 grand? That's like nothing.

It's not 2 million, so it's nothing. It's no big deal. I'll bounce back from this in a couple of days. That wasn't the intention of telling that story or talking a little bit about how I would feel if I was in that situation.

but it has the effect of making today feel like a very, very small, very very manageable red day. Uh, which is which is good. But yeah, red days are tough and and so you know. Today for instance, you know I'm stopping here.

Could I choose to keep trading? It's only 10? 45. Sure, I could keep trading for the rest of the day. I could trade till 4 pm. I just saw um, Leds pop up.

You know I could jump into this with 20 000 shares right now and if it goes to 22 dollars, I'd be up 40 grand on it. Hey, that'd be nice that put me up 15 000 on the day. Or I could get in at uh, you know, with 20 000 shares right here in 1968 and stop out down here at 19 down. another 15 grand and then I'm down.

You know, 40 000 on the day And then I take one more trade and then I'm down. 50 000 and one more trade. Then I'm down 75. One more trade, then I'm down 85.

One more trade, then I'm down 120.. People, people have done it before. There's no reason I couldn't do it. If you were gonna challenge me to see how much I could lose in one day, I could probably lose over a million dollars if I if I tried.

You know, just throwing money out the door. So you have to have a place each day where you say, all right, I gotta cut it and I have that set. Usually at about um, one day's average profit. My my average daily gain this year has been about twenty thousand dollars a day.

So once I'm down more than twenty grand, I usually just feel like I I don't even feel like there's a a chance to make it back. If I'm down five grand, I still keep going. If I'm down ten grand, I usually still keep going. If I'm down fifteen grand, I might give it another try or just wait for something that looks good.

18 maybe. But now you know when I'm down 20, 25, it's kind of like I don't even. I mean my best time of trading is the morning at the open. We're past my prime time.

The condition the market clearly is not good. I'm down so much to make ten thousand dollars I would need twenty thousand shares in a fifty cent move or ten thousand shares in a full dollar move. That's that's not feeling likely. So I get to a point where I just kind of say you know what it's it's just not even worth trying and that's very important because other people will just keep going and going and going.

So um, I have that at least. But I would have been better off if I just hadn't even traded today at all because there was nothing that looked great. So why did I even bother? And you know it's just a struggle that I that I have. So that's the struggle of being a traitor and I think it's something that a lot of people deal with.

So anyways, that's it for me. I gotta shut down the charts and close everything down before I you know see something rip up and then get tempted to maybe try to take a trade on it. So I I just I'm just going to shut it all down and let it be what it is. Monday's a new week and this week as it turns out was scratch for me.

Break even you know, more or less maybe read a little bit, but more or less a break even week. So three days forward, two days back back to flat. but Mondays. Um, you know, Monday is a new week and I have the opportunity to start over with a clean slate and hopefully a couple of days off on the weekend have the effect of kind of bringing the emotions back down a little bit.

So I just kind of like chill and you know I could. I could reduce my share size going into next week. given that I've had two red days, probably would be a good idea at least on Monday to trade a little bit more conservatively. So maybe I'll go and just put a max share size um on my account here for Um for Monday so I can.

I can just do that and then save the save the layout so I'll go into trading. I'll go into warnings and it's set at 50 000 right now, I'll just put it at 10 000 shares. Not to say I can't easily lose 10 grand with 10 000 shares, but I'll just save the layout like that. So 10 000 share max position on Monday and if I start to build a cushion, maybe I can revisit that, but that'll keep me a little bit kind of tapered back in the first first few trades I take.

So good luck. Um for those who keep trading, although by the time this is upload, the market will probably close. so hope you guys had a great week. Hopefully you did better than me.

There were certainly opportunities to make money, but there were opportunities to lose money as well. That's trading. Trading is risky. My results are not typical.

so thanks for tuning in here and I will see you guys first thing on Monday morning. See you on Monday! Hope you really enjoyed that video and make sure you hit the thumbs up and subscribe to the channel if you haven't already. Our goal is to hit 1 million subscribers this year, but we won't get there without your help. so please please please hit that subscribe.