Well, well, well here we are. Red Day Recap: Boy, how the tide has turned. Easy come easy. Go from up 115 000 yesterday on Euro, the down this morning 28 000 on Sckt and down another 8 000 or so on Xbio.

What a way to finish the week. It was wild. I started today in the Red 12 000. Second trade down 28 000 Two big losses.

Third trade. Xbio started making a little bit back, so on Xbio I ended up making a thousand Two thousand, Five thousand, Eight thousand, Nine thousand, then was up only seven thousand on it, then finished up fourteen thousand. So being up fourteen thousand, I'd cut my loss on the day from twenty eight thousand. Uh, in half.

That's a victory by itself. And then I went for one more trade. one more trade. I lost 22 000 on that trade and in that, I gave back the 14 I just made on Xbio and uh, finished at max loss on the day minus 36 000.

it's disappointing. Uh, it's very typical to have big red days on Fridays and we're going to talk about why during the recap. It's also very typical to have big red days that follow big green days. On big green days, you get aggressive.

you get. I I tend on a big green day to get aggressive uh, to trade really really well make some great money and then on the next day I come in, charged up, aggressive and ready to keep pedal to the metal. Sometimes that works. and for that reason, sometimes I have huge green days back to back to back to back because I keep getting more charged up, more aggressive and then I'll have a red day.

That's so the way it almost always is for me. Uh, at the end of the day, that strategy of increasing um, risk and being more and more aggressive when the market is hot, and when I'm getting positive reinforcement from the market of being up a hundred thousand dollars that long term has paid me really well. But today is one of those days where while we had some good momentum on Wednesday and I was up 50 and then came in Thursday, sized up even more and was up 115 on Neuro Friday, I came in, sized up even more and gave back. So I gave back 35 percent of what I made yesterday.

It's a decent amount, but I'm still finishing the week in the green. So it's a marathon, not a spring. Sometimes it is two steps forward. Three steps back.

Three steps forward. One step back. So you know, Yesterday we call it three steps forward. Today is one step back.

All right. So it is what it is. I don't want to throw more good money after bad and lose more today if the market is not hot, If the market is not giving me the resolution that I was looking for that I thought we might see, then the best thing for me to do is to cut my losses, cut it all off the table. Go to Cash so my account's in cash and be patient.

I'm gonna have to sit with the loss of 35 000 through the weekend. I'm not going to try to make it back today, but coming on Monday and Tuesday Wednesday Thursday of next week. Hopefully we see some good opportunities and if we do, I'm not even going to be thinking about this loss. I'm just going to be focusing on capitalizing on those good opportunities and I will have the confidence because I will see when we have good opportunities.

I just want to see it right in front of me. I'm going to see the setup and I'm going to take it. And next thing you know, I'm going to look over at the P L and it's going to be at 14, 15, 16, 20, 25, 30, 40, 50, 000. So I try to remind myself that today's loss while in this moment doesn't feel good.

A week from now, it's gonna be water under the bridge, just like skinning your knee. The twenty three thousand dollar loss on Monday and then the fifteen thousand that I lost on Tuesday it was forty thousand dollars. read in two days. Well, I just did basically that same amount in one day, but I did it in two days.

It was already water over the bridge when I made 50 000 on Wednesday that that fast. Now Trading easy come easy, Go like that. And for me it was about 20 seconds. It was one trade where I sized up too much.

I kind of lost my my center. I took way too much size. I think I was thinking that if that trade that last trade was green that it was going to put me from down 14 000 on the day and it would have it would have with the position that I had. If we had gotten the resolution I was looking for, it would have.

but it wasn't really the right move to take that level of risk. And so that was a little bit of a lapse in judgment to be that aggressive that late in the day when I was still red. On the day. That's a Hail Mary pass.

You know you're you're trailing by five points, you've got 10 seconds on the clock and it's a hail Mary pass. If it works, you're a hero and if it doesn't, you're a zero. So unfortunately, that was, uh, the story today. and that's not a reminder of how risky trading is.

How many emotional traps there are on the market in the market, then I don't know. So I encourage you not to blindly follow me or anyone else. I encourage you to trade in a simulator before you ever trade real money and I want to remind you that my results either profit or loss are not typical. Trading is risky.

Take it slow. Please hit the thumbs up for the Red Day recap. I'll see you first thing recharged on Monday. All right everyone.

So um, gonna do my recap. Red Day recap. It's Friday and um, I was green on uh, Xbio but just went red on it. I was looking for that trade through a 475 right here the break of 475 and it was a flat top setup so we had one, two, three attempts at that level and then right there.

just that rejection. You know it's tough because it's a it's a good five minute setup and unfortunately when something drops 70 cents in one candle, you just don't have a lot of option when you're in high except just to cut the loss. So I'm red in my um. main account and I'm ready.

Um, so I'm I'm let's see. so I'm red in my retirement account. No, which one is this? Um, this is my retirement account. So I'm actually green in my retirement account and read in my main account.

I got them mixed up. So yeah. so anyways, that's where I set. It's a red day for sure.

Um, don't love that. but you know that's part of trading and yesterday was a great green day. So I was up over a hundred thousand dollars yesterday. You know on this one we had some great opportunities on it and I traded it as you can see well in my main account and then that last trade right there.

um that was just one trade and that was the loss right there. One trade so you know I don't know, maybe it comes back up but what I was looking at on this was, um, the break over 40 and then I was adding for that squeeze right here and I was holding through the micro pullback which I looked at as a micro pullback right underneath the flat top for them to break and the squeeze up to five. And so you know. Unfortunately on this one when it broke 50 and then back to 40 I thought oh I don't know, maybe I'll give it a second and it ended up just flushing right down to 401 before.

well you can see here bouncing back up to 42. it's always hard to know whether the right move is just to hold and give it a chance to bounce back up. but it it seems to me that when I do that I end up then stopping at the bottom of this sort of flush because I do like a i'll panic exit. I'm just like whoa, this is dropping way too much.

I'm in with too much size, I got to just bail and you know here you go, it's back up. 40 50 cents. I mean if this thing ends up breaking 75, I'm gonna feel like how am I the guy that managed to lose money on the setup that was so clear? Well, it was a false breakout right there. and a false breakout right here.

And a false breakout right here. So sizing up going into a level that had already been rejected twice is risky for sure. And I was already not having a great day. So I actually went down this morning on S C K T and on, um, about twice.

So I lost on it in both my retirement and my main account. And then I recouped the loss, basically cut it in half with this profit on Xbio, and then went back to down, Uh, 10 000 more than what I was down previously. So someone asked earlier. You know, how do you know when to throw in the towel and call it a day? You know, when you have something like Xbio squeezing up, it feels like you know you should trade it And I struggle with that with the answer to that, because on the one hand, I made back, uh, half my losses.

You know, I cut my loss in half. And that was, you know, Right here on these trades, I cut my loss in half and then in one trade, I lost back. You know, everything I had just made in the last hour of trying to make some losses back, plus another 10 000. So down 36 000 on the day is a probably the biggest red day of the month.

Not totally uncommon for a large red day to follow a big green day. Usually when I have a big green day, the next day I come in aggressive. Which makes sense because I had a really good green day and when day two, day three, day four are also strong, that's when I end up having four, five, six really big green days in a row and I can do really, really well. But this is what can also happen.

You know you have a big green day, you come in the next day aggressive, swinging hard, and if the market's not set up and it's not strong enough, well then you end up catching some big size losses. And that's what ended up happening today. So it's you know, it's disappointing, I would say for sure, but you have to take that with a grain of salt relative to the profit on the week. Uh, so let's see.

So on Monday I lost 23 000, then on Tuesday I lost 15.. So I was down. Let's say 40 000 on Monday and Tuesday. and then Wednesday I made 50 000.

So that put me up 10 000 on the week. and then yesterday I made 100 000. So that put me up 110 000 on the week. And so now being down, well, just even round up to 40 000..

if I'm down to 40 000, I'm still up 60 000 on the week. So and at the end of the day it's been a good week. Has it been a bit of a roller coaster starting red, going green, and then finishing red here today? Yeah, it has, but that's part of trading and we know that trading is risky and we know it's easy come easy go. In a matter here of 30 seconds, I went from down 10 000 on the day to down, uh, 35 000 on the day or whatever, right? So 10 seconds got in just a little too high and you know, got stopped out on that flush.

That's how quick it can. You can lose it, and I suppose just as quickly you can make it. But we know that while there's a lot of opportunity in a volatile market, more traders will find themselves on the losing side than on the winning side. And so today I'm on the losing side.

Uh, you know? Well, hey, I'm green in this account, but really, marginally that's in my retirement account. Uh, and then here in my main account and just in the red, you know. But I actually at some point today got the two accounts confused. Um, I don't know when that happened, but at some point today I got them confused because I actually thought this was my retirement and this was my main account.

So uh, this. it doesn't. Not that it really matters, except that it's a little bit better because when you lose in your main account, you can write that off against the income that you produced in the main account. When you take a big loss in your retirement account, you're not writing it off against gains because you don't have any tax in the retirement account, so it's actually better this way.

so that adds a little bit of a silver lining. Uh, it's not one that is the best, but you know, hey, you find something positive and a loss, that's that's a good way of coping with it. So anyways, that was Xbio. um a stock that had no news.

but that made this kind of big move and my first trades on it were um in my as it turns out retirement account at three dollars. So right in that area traded it from three up to four, made fourteen thousand. That was solid. uh and then came back for.

you Know that that one trade? uh right here that second attempt and look at this, you know, see this right here. you can see it's coming back up. This is. this is where the the market can really kind of drive you nuts because you feel like man, I should have just I should have just held I'd be back to break even here I took a 22 000 loss on that trade.

Oh, but maybe not see that's the shiftiness of the market and how quickly it can change your emotions from. Oh, I should go along. Oh my God. I'm getting stopped out a second time, a third time, a fourth time.

I suppose it all speaks to not overstaying your welcome trading less so you know, today my equity curve is going to look like red and then made back half the loss and then in one trade to max loss and that's it. So this accounts below the max loss which I have set at 20 000. this one's not below the max loss, so I could keep trading in it, but I'm not going to. I don't like to lose more than 20 000 because 20 000 is my daily goal for profit.

so I don't want to lose in profit more lose in a red day more than I would make in profit in one regular good day. So that's Xbio stock with no news, but kind of became the most popular and biggest moving stock today. Although choppy as you can see and Sckt was the one that I lost on um, this morning, my first two losses which put me down 28 000 were both on Sckt. Extremely disappointing.

Just uh yeah. I mean it is what it is, but the first loss was twelve thousand dollar loss on this false breakout right here. And then the second loss was a sixteen thousand dollar loss right there at the open. So those are my two losses on Sckt.

Just really like you can see, it was a pretty choppy day acor another stock that was choppy. This one popped up and then sold off. As you can see right there, Uh, Mdgs was super choppy. Some days are like this trading is hard and some days are a lot more difficult than others and this is a day where we had a lot of volatility and it was really, uh, it was hard because we would just get these nice you know, a nice move up and then the whole thing would retrace all the way back down to as if it never happened and then back up and then back down again.

So that's a tough market to trade through and in hindsight, today's a day where I'm going to say I wish I had stopped sooner. If I had, I would have an extra 10 000 in my pocket or maybe even 20 000 depending on when I had stopped. But when I saw that momentum on Xbio I jumped on it and I traded it really well. and then, um, you know.

So I guess the challenge here is I took too big of a position on that last trade. You know, taking too big of a position there on that attempt at 75. maybe at that point I should have said listen, you know you're you're back to flat in this account. Uh, and then I guess I switched here to try to kind of cut some losses in this account.

you know, just take it slow and instead I just kind of went for that big trade. the rip through 75 up to five 525 544. And you know, today's a day where trading past my max loss cost me at the end of the day. you know, But then.

but it? It didn't until that last trade. So that's where you have that mixed messaging from, you know, sort of positive reinforcement of okay, you traded past your max loss and you made 14 grand and then, but the last trade was down 22.. So you know I lost an extra 8 000 or whatever. So it's just, uh, it's very very, very tricky to know conclusively what is the right decision and at what point to walk away Because you know, if I'd walked away down 28 000 and then later someone said hey, you see what Xbio did I would have looked at it and thought, man, I for sure should have traded that.

Look at that move from 250 to 4 to 480 475 I wouldn't have imagined I could possibly trade it and end up losing on it. Such a big move. How could I possibly trade that and end up losing? You know, eight thousand dollars on it? That's not. There's no way.

Well, I just showed you how it's done. It can happen. So we speak and talk about Fomo A lot. We're gonna have Fomo Friday session at one o'clock today with Ted.

Uh, it's one that I highly recommend for you guys. I struggle with this and I've been doing this for a long time. It's just not something that goes away. it's something you're always going to be working with.

You're always going to be facing it and you'll have periods where Fomo is hitting you harder and it's more difficult. and you'll have periods where it's easier to kind of brush it off, but it's always there. and that's one of the things that makes trading so difficult Because that's not something that ever goes away no matter how many years of profitability you have, no matter how much money you've made. I've had a great year and yet I still each day have to struggle with this.

And we all do. And you know, in the small account, the approach of one trade a day definitely eases the emotions for sure. but there's no way I would be up as much as I'm up this year in my main account if I was trading only one trade a day. There's just, I mean there's there's no way, it's just not not even, um, close to possible.

So I'll just log in to my metrics on the main account and just kind of show you. So let's see. so Main Account: I haven't imported any trades for the month of July because I really, I just wanted to kind of not look at July and just focus on you know, taking good trades and let the profit be what it is. So for this year I've taken so far 4 thousand trades, four thousand, one hundred forty trades.

you know. So you take the total gain gross profit as of the end of June of and we'll do net profit after fees and commissions. So you know 2.12 million dollars. Divide that by 4140 trades.

I'm averaging only 512 dollars a trade. So if I took only one trade a day, there's only 250 trading days in the year, so that would have me averaging 128 000. Now probably if I took just one trade a day, I would probably make more than 500 on average per trade. I'm sure that I would.

So I guess that that math doesn't really mean a whole lot, but but I don't think there's any way that I would. Well, let's just so let's do the math that way. So right now I'm tracking for let's say 4 million dollars on the year divided by 250 trading days. So I'd have to make sixteen thousand dollars in each.

Uh, trade on average in one trade? I just don't think that's realistic. That's that's too big of a winner for one trade. No, it's not impossible. I do have 16 000 winners, but to have that be my average one trade profit? I don't know.

that seems unlikely, so I don't know. Um, just thinking out loud on the one trade day thing. Definitely a good way to combat emotions as a beginner trader, even as an experienced trader who is needing to press the reset button and kind of go into trader rehab, I think that it's um, that it's a really good, um, it's a really good idea to for that rehab period. Say one trade a day until I get through this kind of just stressful time.

Whatever's triggering that fomo, it could be a million things, but whatever's causing me to get so aggressive and emotionally impulsive and revenge trade just to break that streak. A guy just do one trade a day for, you know, three weeks and then start with two a day. Three a day for a day just to press the reset button and start to recover. I wouldn't say that that's something that I need to do right now in my main account.

I had a good week. Sure, I was read on Monday and Tuesday, but I had a great day yesterday. a great day on Wednesday. So Wednesday Thursday were terrific.

Made 150 plus thousand in two days and you know today giving back a little bit off the top by still still been a great week. So I think that for me, the area that requires that extra level of discipline is is knowing whether or not I should walk away when I hit the max loss. And because sometimes I'll hit max loss, keep trading and finish the day. Green it has.

It's Pr. That's probably the worst thing that's happened to me in my career hitting max loss, continuing to trade, and finishing the day green because it has ingrained a very conflicting message about max loss. What's the point of having a max loss if you'll trade past it and why have a max loss if sometimes you trade past it and then finish the day Green? Is it actually serving a purpose? So that's that for me. Is the the biggest? Uh, the biggest struggle is whether or not I should have one and then if I'm gonna have one.

Whether or not I'm gonna actually respect it and follow the rules of it. Capping losers is very important. That's part of the statistics of being profitable, minimizing the red days, keeping the damage as small as possible, not letting it get bigger and bigger. And today, you know.

Had I been able to have someone um, you know, watching over my shoulder or something, maybe that person would have been able to say hey, okay dude, you went from down 28 000 to down only um, 16 or 15. why don't you cut your size from 50 000 share max position to like 10 000. start reducing share size and I didn't. You know I I went into this with 45 000 shares and I lost 50 cents and that was a 22 000 loss.

Just like that, it's gone so I don't know. I share this with you. If it's helpful, it's helpful. If it's not, it's not.

But these are the things that I think about when I'm trading at the end of the day. It's a loss. It's a red day. Maybe you don't have to read into anything more than that.

Hey, it's a red day. Deal with it. Move on. That's that's part of trading.

We all have losses from time to time. But I think for me one of the ways that I handle the losses is by trying to derive a lesson from them. If possible to give myself that critique and that kind of criticism of this is where you made a mistake. This is what your problem is.

This is what you need to do better. And so that's where this sort of internal dialogue that becomes a recap comes from. And and I don't. You know, I don't have a system right now.

I mean I guess I could do it today. and um, today could be day one of a of a new kind of system. Um, and I'll just write it down here. So to today's date is the 23rd.

so I'm just going to title this max losses. So 7 23 hit minus 12k, one more trade, then minus um 28k. traded a lot to minus 15k, then big loss minus 38k on the day. So maybe I'll start taking some notes about what happens when I trade through when I trade past max loss.

and if I start because right now I don't have, I have, my feelings about it, but I don't actually have the metrics to know. I mean could I go back and look at every day that I've been read? Sure. but that doesn't even tell me about all the days that I was green that I was red and then finished green. So I think starting to take notes about the max loss days and trying to then if I'm gonna make a decision like I actually stopped trading when I'm below a certain amount, it's based on some actual data points, not just a feeling because the whole feeling problem is that the market gives sometimes a positive reinforcement for a bad behavior like it sort of did today.

positively reinforced me when I made fourteen thousand dollars on Xbio, gave me confidence, made me think I was doing well, and then I went back in for one more big trade and then got smoked. So I need to kind of get a better sense of overall if we look at over the next six months 10 max lost days, how many of them resulted in me finishing the day deeper in the red or in the green. And if we find that 90 of the days where I met my max loss I finished the date deeper and the red then that starts to say be the this is the proof right here. This is the proof to stop doing what you're doing and right now I don't have that because I know there have been enough times and today could have been one of those days.

If this had ripped through 475 to 5 with 40 000 shares, I would have been Green today, right? I would have gone from down 28 thousand dollars to Green. And I think that that's probably knowing that that was a possibility if that trade worked for me was one of the reasons I was as aggressive on it as I was. But um, in any case, I'll start taking notes on that and we'll see Um, we'll see if I if that teaches teaches me anything or if I learn anything from it. So man I don't know.

Anyways, that's it for me. So it's Friday and um, so typical to finish the week sort of with a little bit of a fomo setback because of the emotional stakes of wanting to finish the week strong. You want to finish the week on a green note. You want to feel good about yourself over the weekend.

That means Friday was a good day so the stakes were high To try To finish today. Green and I failed. I failed in my small account, I failed in my main account. uh, or well, I failed in my retire.

No, I failed in my main account and whatever I call it failed all across the board because this is negligible. So anyways, uh, the fact is, I have to be patient. I'm not going to make back these losses today. I know, just like I made back the 40 000 I lost on Monday and Tuesday with one fantastic Momentum stock on Wednesday.

with Neuro I can easily do it, but the market has to be there. and Xbio, you know, I just wasn't able to really position myself to crush this one despite a big move here because I was already kind of with my back against the ropes having been down 28 000. So I started slow and then it was up a lot and then I was chasing it and it just kind of fell apart from there and sckt was just gross. that was just a terrible gap and go.

Uh, alzn was a bad gapper so the market today was soft and uh, I did the best I could on Xbio, but expecting fireworks out of it was probably not realistic. So anyways, that's it for me. It's a red day recap. I hope this is helpful for you and I will see you back here first thing on Monday morning.

A new week and it'll be the last week of July so we'll try to finish, uh, finish the the month without letting things go off the rails too much. While I could look at myself as being down 38 000 off my high of month in a very narrow window of between yesterday and today, that's true. I could also look at myself as just closing the week up sixty thousand dollars and I'll come in next week and see if I can add a little more profit to the end of the month. So that's that's the reason that I'm not importing my trades every single day, because when you do that, you're constantly benchmarking yourself of yesterday's where you sat yesterday.

And I think that that's too much of a micro view of a P. L equity curve, because it really is about the big picture. This is a marathon, not a sprint. You're going to have some slow days, you're going to have some red days a month from now.

None of them will matter, and they're all water under the bridge. My 23 000 loss for Monday is already water under the bridge, and the loss from today will be water under the bridge by the end of next week. so it's not worth getting bent out of shape about. This is a marathon, not a sprint.

I'll see you guys on Monday. I 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.