What's up, everyone? All right? So ready. Recap here today. I'm bummed it's a big red day, but you know that's life. I had a couple big green days last week a big green day on Wednesday, so you know it's okay giving back what I made on Wednesday essentially.

so I still have Thursday's profit on the month, so I'm green on the month, not by as much as I was. But that's all right. I'll keep it going. I'll be back at next week.

Remember, the market's closed on Monday, so next week is a short week. I'll be back on Tuesday see if I can have a decent day and remember just one red day doesn't have to become a red streak. You have to stay disciplined, stay focused, and just brush it off. Get back on the horse and look for a nice base hit and that'll be what I'll be doing on Tuesday.

I hope you enjoy the recap. As always, my results are not typical you should assume as a beginner trader you would lose money. So with that assumption, trade in a simulator before you put real money on the line. I hope you enjoy the recap.

It's a red day recap and I kind of break down sort of the emotional stuff which I think is always helpful for you guys. So please hit that thumbs up and I'll see you first thing on Tuesday morning. All right. So uh, well, it's a red day recap and I'm giving back everything that I made on Wednesday on Wednesday.

Let's see, I was up about 40 40 I was at 15 yesterday so gave back all of uh, Wednesday's profit back to up about 15 000 on the month. Oh boy, so you know this. Unfortunately, it's so discouraging. Um, let me just hide the scanners for a second.

So this, uh, ruins my metrics. It just kills my metrics when I have these types of losses. And that's what I'm kind of thinking about more than anything are my metrics. Um, you know you.

From um, last month, uh, to yesterday I was up 224 000. uh, profit loss ratio had finally gotten to about one to one after a couple of big winners. But now if we look at my profit loss ratio just for uh, let's see. Well, it's about it was.

it was a good one even despite one big loser. Well, it's going to be ruined after today taking a big loss on Impl. So what's the deal with this one? Well uh, it was halted pre-market So we saw the news headline that the stock was halted, then saw the news come out that they got Fda approval and they read the headline and I thought that that seemed like a pretty solid headline. Well I guess it goes to show not to be.

Um, let's see there it is. Um, not to try to over interpret, uh, the headline. Sometimes the news doesn't really matter, just if there is news is what matters. I read the headline and I thought, okay, I get migraines.

This is a migraine drug. It sounds like that's promising. It sounds pretty good. It's pretty interesting so it resumes from the halt and goes from 28 to 45.

Nice squeeze, right? Yeah, for sure I thought it was going to go higher. I added in my big account as it started squeezing up right here and I just kept adding. I went big and um, right through here. I held into the open, was looking for a trade over the halt level, and I cut the loss as it broke down at 32 right here and lost 41 000.

So I'm in the red 41 000 and I don't know. I maybe it'll curl later in the day. Maybe maybe next week it'll be better. I thought I had the right idea on this one, but I let my interpretation the fundamentals override what the technicals were showing me.

which was a topping tail candle, then a red candle, then a false breakout, then a drop all the way down to 32. you know I was green on it. I was great. If I had, well, if I had just taken profit up here, I would have been green.

Uh, you know, if I hadn't taken profit and not gotten back in, I would have been green. Probably 30 000. So that was the swing in the P L from up 30 to down 40. that's a 70 000 swing from top to bottom.

It's a big swing well so kind of back to square One for the month of September. I guess this had the potential. I thought to give me a pretty huge month a pretty huge day which would have been put me in great shape on the month and I screwed it up. I'm discouraged for sure.

but as I said before, if you can't handle discouragement, trading is the long, uh, the wrong career because this is part of trading. You get knocked down and you get back up. You got to get back up. Okay and you're gonna get knocked down again and then you gotta get back up again and that's just gonna keep happening until you eventually stop trading.

That's just the way trading is as a career. This isn't like running a you know, ice cream stand or a banana stand where you just keep making new bananas and serving them. And it's not the post office where it's just envelope after envelope and it's the same routine. This is a very volatile job trading in a very volatile market and I thrive on them.

I like the excitement of the Big Green days and they wouldn't feel good if it weren't for the Big Red days. So you know I think we all get the adrenaline rush on those days. And today I took a big trade and the potential was huge and that was a rush. That was an excitement and it could have worked.

and it almost did. but then it didn't And so the loss is also. I suppose a bit of a um, you know, like emotional response. and now I've gotta buckle down next week and start focusing on recouping this loss.

Forty thousand dollars. I can get that back in one, one or two good days, No problem. But uh, you know it's It's disappointing. those one or two good days could have been adding profit to the month.

Instead, I'm back to square one. But you know each one of these uh drawdowns. You know you can see right here. This is just like the last um, year.

I can go back a little bit further. Let's see you know each one of these drawdowns here. Forty Seven thousand, Twenty Six thousand. You know, those were multiple back to back red days and then coming into 2020 I started to step it up, had a pretty big uh drawdown right there that was.

It was a pretty big drawdown. I really didn't have much of a drawdown through even the hottest part of 2020. But then coming to the end of 2020, that's when I've started to see some bigger drawdowns. But I've recovered from every single one of them.

And so right now when I come in on Monday, I'll be down 40 000 off my all-time highs in the account. All-time high from 2017. When I start my small account challenge is 8.29 million. so off a high of 8 million 8.29 million, I'll be down 40 000.

Which when you look at it in that big picture, it's a tiny tiny little blip. You can barely even see it on the chart. Just a tiny little blue. So I'll be down just a little bit off those highs and I'll recover.

But it's not how I wanted to go into a long weekend. No question about that, I was, um, I. I literally said before I started trading, you don't want to go take a big loss going into a long weekend. Well, then look at me, take a big loss going into the long weekend.

So now I get to think about this all weekend and instead of feeling like hey, I'm up 60 000 on the month, it's smooth sailing when's at my back, I just got a coast. Well now I'm back to 15 000. but that for me is more or less break. Even so, I'm back to flat on the month and I've got to start over.

So I'll start over on Tuesday flat on the month and the goal is still 200 grand. But first, Target's 100 grand. and it's going to take a couple of really good trading days to get back there. but you know we don't have them.

So in hindsight, I just got I got too too biased on it. I just thought the headline was so good that it would make a big move and the technicals pretty early on showed that it was struggling. And you know, if I had just stopped trading right here at this false breakout, I would have not been read today. But you know, if it wasn't for pushing the envelope and trading a little outside my comfort zone and being aggressive, I wouldn't be up as much as I'm up.

you know, in total. So I go. You know, all out I trade aggressively and that's just the way it is. Uh, now the important thing I think today, which is a lesson from last week or two weeks ago, is not to keep trading.

At this point. you know it's uh, I have an 88 chance of increasing my loss by 50. I have less than 12 percent chance of finishing the day. So making the right decision and not, uh, doubling the loss is the best thing I can do today.

So that's what I'm gonna do. Calm, cool, collected. take it with the you know, kind of. Well, I don't know what it is.

Um, you know, grain salt or take just some. That's really what I was thinking of. but you know you. just you.

take it and you move on. That's all all I can really do. So I'm gonna take the loss, eat the loss, and move on. live to trade another day.

Never want to empower one trade to end my career. Roll the punches. There you go. Um, take advantage.

Yeah, never wanna. uh, let one trade ruin your career, ruin your month. And and certainly this didn't Feels emotionally like it might as well have because of how kind of crappy it feels. Uh, but, but it doesn't and a week from now, I'm not even going to remember this loss.

You know what I mean it. I can recoup it and recover from it so quickly. Within a couple of days, it's water under the bridge and it's gone. But in the moment in the moment it stings, it burns, it hurts.

Uh, it's not fun. And so you know in the moment when you're feeling that emotional reaction, that's when you should not be continuing to trade because you're frustrated, you're angry, you're disappointed, and if you keep trading, you're going to keep making more mistakes. most likely, uh, with high 88 certainty. Uh, and that will result in increasing losses, which will get you even more angry.

And then that starts to become this self sort of feedback loop of getting more angry, trading more aggressively, getting more angry, more aggressive, and then all of a sudden that's when you could be talking about blowing open account. And I'm doubly upset today because I took essentially the same trade in my small account and lost 4 000 in my small account. So my small account got smoked today and I was reading it yesterday. So I went from being within like, you know, four thousand dollars of closing up the small account challenge to now, uh, being ten thousand dollars away, I went from up twenty six thousand to upload nineteen thousand in the last two days in the small account.

So a good good size loss. thirty percent drawback draw down. Uh, but again, not one that's not recoverable. And and even if I went, you know all the way back to flat in the account.

Even if I took a 20 000 loss and I went back to flat, I know I can still recover even from that. Even if I lost eight million dollars in the trade, I could recover from that. I could start over with 583 dollars and 15 cents and I would recover. So that's something really special about trading.

that knowledge that you can recover. you can recover losses. Not that it's fun to do it, not that you ever want to take a loss that big, but um, but on the day that you're read the knowledge that you have this skill, if you've been one of the one percent that have it that you can now generate some income even from a very small amount, it's not for everyone. and most importantly, because of the emotions involved with trading, you know it's the confidence hit.

And I know Larissa mentioned she's had a couple really awesome days and inevitably you know she'll have a red day at some point in the future it's going to be. She'll feel the same way I'm feeling she's I know she's had a day like this where she's felt this way and it feels like you know in that moment that it'll never, You'll never can never recover it. I'll never get get back. You know the loss.

It just feels so raw in that moment. But then you know you kind of step back a little bit. You look at your metrics. what have I been doing right? What have I been doing wrong? Um, you know the volume on that one was pretty low, but the rate of change was there.

I don't know if there's really any specific kind of takeaway I would have from that trade of you know, make a new rule or whatever. I don't know, but I I think that something that could be helpful for traders in the future with sort of like Ai would be if your broker could actually start like you know what in the moment where I was up like 30 000 and then went back to like break even like what if the broker was like okay, uh, you should stop trading right now at zero you were just up like 30 grand because even though you might mentally say I probably should do that, you know, and even the position of my small account, I was green on it. and then it went red And as it went red I kept holding. So it would be interesting if there were some things there that would help you kind of um uh, you know if they were actually back tested but you know that's I.

I don't think that's going to happen, so it's just just trying to think you know, hope for some way to help you trade better without having to actually just have better discipline. I mean that's kind of like, wouldn't that be nice? Of course it would be nice, but that's not the way it works. irmt another one that made a big move but then retraced it all the way up to 1850, back down to 1550 Apop selling off just like it always does. gap fade, gap fade.

So yeah, maybe just to just stuck with my kind of gut and not take night trades today since I was a little hesitant going into long weekend and I didn't really like the uh, the gap scan. but then we got that hail Mary pass you know and I went for it. So the good news for me uh is that even after that I'm still green on the month I tried. you know it's kind of like I was up a lot and I said you know what, let's let it roll.

Let's see if I can go from up 60 000 on the month to up 120 000 in one day and sometimes kind of letting it roll like that is the way you get yourself up a million dollars on the month. My best month last year I was up over a million dollars and it wasn't. You know, without taking risks, I had to take risks to get there. I had to have trades where I let it roll and didn't sell real quick.

I let it turn into a big winner and I did so. But then of course there's been other times where I do that and I just get um, you know, kind of smoked So I could say oh, I should trade with smaller share size and I wouldn't have read days like this. But then I think what would happen is I would acclimate to the smaller share size. So if I was always trading with smaller share size like max size of like 5 000 shares yeah, I probably wouldn't have a loss of more than 15 20 000 very often.

But I also probably wouldn't have green days of more than you know, 10 000 either. So when eventually a big red day comes, it would probably feel just as bad as this one does now because I would have, um, you know, acclimated to smaller share size. So I'd rather try to keep myself acclimating to experiencing huge losses and being able to recover Because if I can handle the big losses and recover, then I'm going to be able to take and get the big winners. It's if you can't handle the losers that you can't trade a big size.

So if you've got, uh, you know the willingness to handle those big losses, those allow you to start scaling up and I try to trade at the edge of my comfort zone. I tried to keep growing and I pushed myself really hard, especially during the pandemic when we had the big drop in the market and then things started to rally and I after that became a better trader. My draw downs have gotten bigger, but the P L has grown and I'm sitting up over two million, about two and a half million on the year. Right now, it'll be my second best year of all time.

If I finish, you know, anywhere below five million. I was up five million last year, which was mind-boggling but I'm at two point little over 2.5 well before today, so 2.5 in net profit right now on the year, and we've got all of September, October, November, December. Typically, Fourth Quarter is my strongest of the year, so going into the end of the year, I hope that I'll have some some really solid uh trades. and we certainly did, even in the last.

Um, you know, the last week and yesterday and the day before. we're both really good days, so I think we'll have it. Just got to wait for that next stock like Rgc or Fc Uv. And perhaps you know.

I mean, if you wait for something to really start to take off, you miss the beginning of the move And actually you know what's interesting. Um, you know this one kind of has a similar thing. I could have lost 40 000 on this, right on a move like that and then you know you fast forward a little bit later and all of a sudden look at that now. that definitely, uh, is super painful when that happens because you're like, how is I lost 40 grand and then it did this.

But maybe waiting until they really open up a bit more on a little higher volume would be a better idea. I don't know. we'll see. So anyways, that's it for me.

Red Day recap, but we'll live to trade another day. I'll be back at it on Tuesday. Markets closed 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.

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