What's up everyone? Alright, so here we are, finishing the morning up: Eight Hundred and Eleven Dollars. This is actually gosh. this is the smallest green day of the month and you know eight hundred and eleven dollars is still a great day. I Haven't lost sight of the fact that five six years ago, eight hundred dollars would have been like an amazing day.

Seven hundred Fifty bucks. I Would have been so excited because at that time I was probably only averaging. you know, 150 250 a day on really decent, good quality days. So to be in a place where now I'm averaging 5,000 to 8,000 in a good market on a good day making only 800? Do you know it doesn't feel like a lot of money, but that's the time where it's important not to not to lose sight.

You know not to become detached from the reality that this is a lot of money. So feeling good about that and you know it's another green day. It's just momentum. Today goes a little bit slower if anything.

I over traded today I took I don't know how many trades must have been like 15 trades or something I mean it was just getting in, getting out, getting in, getting out, and you know I kept taking stabs of things and they don't only pop up maybe 5 or 10 cents. So lots of small winners, one bigger loser and yeah, it just it wasn't feeling it. So I did something that it's kind of rare I said you know what? I'm gonna call it a day instead of pushing my luck I'm just gonna call it a day. Up 800 is great I'd rather be up 800 than down 1500 and it could happen just like that on a day like today when the momentum is not too high.

more false breakout. So I'm taking the money 800 bucks and I'm done for the day and I'll be back at it tomorrow. Hopefully we'll have a better day. I'm gonna finish up this week strong.

So I'll break down today's trades in today's midday market recap and as usual, any questions, any comments, leave them below if you enjoy the video, give it a thumbs up. Alright, enjoy and I'll see you guys first thing tomorrow morning. All right everyone. So we're gonna break down the trades from today.

finishing the morning up only 811 dollars. Kind of a little bit of a slower day for me. This is the first day this month that I'll be closing with anything less than either a thousand dollars of profit or a thousand dollars of FOSS So this is everyday this month. so far I've been either you know, down more than a thousand are up more than a thousand I haven't had a day.

that's just, you know, a three figure day. So kind of a little bit unusual here. but I think the thing is typically on a day like today when we don't have a lot of momentum I wouldn't be a green day, this would be a red day because I would have kept pushing it and you know I would inevitably had another loss like this one on Schmitt and finished the day down. you know, 1,500 bucks or something like that.

So today's actually a good day in the in the sense that I'm kind of maintaining the composure and just saying. you know what, Mark, it's not really really hot today. I'm just gonna step out of it before I do something stupid before I risk an unnecessary loss and you know that's something that I you know I wish I had done last. Thursday When I had a red day, it was totally unnecessary.

So today really kind of followed the rules. a little bit better there and so so that's a good thing. Now you can see the stocks that I traded this morning today was kind of interesting because the leading gapper the one that I traded right out of the gates. Actually this was Schmitt s MIT So again, you know for us, every morning starts the same way.

it's breaking down the scanner so it's finding you know the the one to two stocks in the market with the potential to move 20 to 30 percent. You can see Smith is up s MIT 58% right now. So if I run this for historical time at 9:00 in the morning, you'll see that s MIT see historical date. There it goes.

Um, see, let's run it for 9:15 There we go. So Schmitt you can see was our leading gap or up 45 percent at the time and it was at 3 dollars and 43 cents. This had everything we look for. it had it was the right price, it was a lower float.

it had news it was up 45% ahead. Decent volume so I was watching it for a break of 370 and here's the thing that's kind of a bummer on this one. It broke that level pre market so right before the bell rings it pops up to 380. So it had already started to break that level pre market and when the bell rings I was just a little bit you know I wasn't totally sure how I wanted to trade it I ended up getting in at 390 and 395 but then it hit a little resistance around 4.

So you know I took some profit at 405 407 and was 7,500 shares. It was like a $400 winner so you know wasn't a home run like some of the other Gap and Go stocks that we've traded in the last couple weeks and you know it's just kind of a small win. 400 bucks it drops down, it comes back up I Get back in here for the second break over for looking for a move to up to a high of 410 412 on that one I think I don't know. It was basically a break-even trade I added back at 405 and 403 and 408 and then sold at 408 and 398.

So it really it wasn't a very good trade I think I maybe was up 500 and then lost a hundred or something like that and then I got back in for one more stab right here at $4 and you can see how it did this big rejection. It popped up and then it dropped all the way down on this red candle and right there I lost like 1600 bucks. So I went from being up 400 on it to down 1200. I already had a small win on another stock so at that point I was down about $500 on the day and I was like okay, you know what.

got to be careful. This is right now this is my first red day in a week. I was read last Thursday and so you know right now I am read I got to be careful I don't want to make this day worse I want to try to, you know, get out of the hole but you know, be smart about it. And so the next stock was MTS L MTS L Again, we traded it yesterday, traded again today.

You know a nice move here from three up to 350, a pullback right here, a flag and then to move up to a high of 370 so made some money on that one. eleven hundred bucks again not a home run. it just felt like I don't know, it just didn't feel really clean I kind of kept popping up and dropping. You can see this drop right down here.

another drop. let's see where is it right in this area here so you know it wasn't the easiest one. Only made 1,200 bucks on it so that got me out of the red and into the green which was good. Small went on my Oh off the scanners.

jumped in for the break of three dollars. it hit a high of 307 and then it came back down. so you know only 600 bucks on mat PE d This one hits the scans from 270 up to 320. Did a little bit of a pullback here, but again on this one I really didn't do that well on it.

only 400 bucks. so small win and TRT another one you know it. Jumped in with 200 shares and got stopped out with a 50 cent loss. so you know, just kind of a bla day.

It wasn't super exciting making eight thousand dollars. Yesterday was a great day, making four thousand a day before and 7500 the day before that. Those were great days. Today's a day where I didn't do anything differently.

The market just wasn't hot. But so this is kind of the thing that they can be difficult for traders to understand because they think geez, I didn't do I did the same thing today that I did yesterday yesterday I made eight thousand dollars today I made only 800. What gives, right? I don't understand. So even if you do the same thing every single day, it doesn't produce the same results because them market is different.

So there are days where the market is going to be stronger and you're gonna see stocks go from $3 to 4 to 5 to 6. and then there's gonna be other days where the market is just sluggish. it's a little slower. Stocks at 3 will only go to 340 350 and then come back to 3.

So you know that's kind of one of the things that he's a little bit hard to understand early on that you could be doing the same thing every single day, but your profits vary. so some days are gonna be big winners and some days are gonna be big losers and you know you're not really doing anything different. it's just the differences. what's happening with the overall market so you know and I guess another thing to mention there is that sometimes you can learn bad habits because you can break the rules, but make money because the market just happens to be really strong.

And if you do that on a day when you know the markets weak, that breaking that rule is gonna get you into trouble. So yeah, so let's see so Smit But so a bunch of trades here you can see I've got I had traded a lot today. 103 total trades 200 in something thousand shares, 220,000 shares of volume you know I traded a lot and I don't have a lot of profit to show for it so you know that's kind of a thing. That to me I was like all right at this point I'm just churning shares I'm working for the broker more than myself I just got a throw in the towel and and be done.

When you trade this much and you're not really making progress, it's a it's a good queue to just you know be done. So I kept my Mack share size today at 10,000 shares. warnings here: Ten thousand and one I Don't think I exceeded that If I press an order that's more than 10,000 shares, it's gonna pop up This this warning sign for me and I can override it or or choose not to. So let's see.

so trades on Smit MTS Sell this one. So I was in MTS sallet 344 345 Tried to scalp it up to a high of to the 50s. Again, that was only a small winter. it was like 600 bucks there.

10,000 shares wasn't that exciting. trying to sell on the ass, not getting filled, having to cancel the orders, just piecing out in really small sizes. as you can see here, sort of unnecessarily so. I think on this one.

I was selling on the ask, trying to reduce the loss because it had dropped down and was popping back up. Got back in at 45, sold at 51, you know? But again, these are really small wins like they don't. They barely justify the risk. Schmitt Back in at 95, 5,000 shares stopped out at 62.

so that was that big loss there. The one big one of the day. MTS L Got back in here 10,000 shares at 50. You know again, like there's just so many trades.

it's kind of hard to look at each of them individually, but this is as it was curling back up right here. I Got back in at 50, it popped up to a high of 69. was waiting for one minute micro pullback and it failed. so you know that's just kind of the thing.

that's a little bit tough. One of our students send me a message today Joseph he was asking about. You know how to deal with the kind of fear of losing and so one of the things we've had a number of traders over the years you know, kind of had this issue. The one trader that I remember the most kind of distinctively.

He was a pharmacist for his entire adult life and he had his own pharmacy and he sold it and now he was retired and use doing a little trading to make a little bit of money. And for him and his whole line of work as a pharmacist, he just would had this belief ingrained in him that he could never make a mistake. He couldn't make a mistake. You make a mistake once as a pharmacist and something really bad could happen right? You give someone blood-pressure medicine when you mean to give them I don't know something else and you know a vitamin and you know it's bad news.

So he just had this really strong belief that he could not make mistakes. So that caused him as a trader to do a couple things. Number one, it caused him to hesitate because he wanted to be 100 percent sure it was gonna work and the reality is in the market. There's never 100 percent certainty.

So he had the first issue of hesitating and then the second issue of when he took a trade and it was going down, he didn't want to sell it for a loss because you know once you press the button and sell it and take the loss, you know you're running. You've now made it official. But as long as you're holding the trade, there's always the possibility that it could go back up right? And so he had these two problems: one hesitating and two holding losers too long. And so what I encouraged him to do was to focus on going through the emotional conditioning of getting good at losing.

Now you know I'm kind of a guy that's gotten good at being a loser because I'm a loser every single day in the sense that I'm always gonna have losses I'm never not gonna have a loss. I mean and maybe you know we can look at my trader view stats like you know, maybe there'll be times here there where I get lucky and you know I don't have any really big losses. This is my win rate for the last 30 days. so 87 percent was the best day.

So that means every day in the last three days I've had at least one loser. Now if I go back further than that, maybe we'll see a couple days in here. Okay, so I've got three out of the last. Well now we're going back a little further.

but out of the last now 30 days back into June I have three days where I had 100% success and the remaining 27 were days where you know I did have at least one loser. So being a successful trader does not mean not losing. That's not realistic. It's not a realistic standard to hold yourself to.

You know it's just. it's not it. it's not. So you have to get good at losing and that means you know being quick to take the loss.

And so one of the things that I encourage you guys to do is do some emotional conditioning to experience loss and to be okay with it. So here's two ways that I've been students to do this in the simulator. So you're trading the simulator and number one when you're trading, you got to trade with small size. All right.

So you trade with small size because when you trade with big size, inevitably the emotions flare up. You get more of the emotions. You get more frustrated when things don't work. Then when the dollar signs are bigger, we always get more emotional and this is the same for me.

So first step is to reduce your share size to like a hundred shares and trade with a hundred shares. Because when you lose money with a hundred shares like look today I lost 50 cents per share on Trt, 50 cents per share. it was only 200 shares. so there's only a hundred bucks.

I Mean it's kind of a big loss, but you know it's really that amount of money doesn't mean anything to me at this point. It's not a big deal. so you want trade with amount of money that is not a big deal for you Where you're like look I could care less I'm down fourteen dollars today. It doesn't matter and you do that for a month.

and during that period of time you're gonna just focus on trading the right way because the amount you make or lose is no longer significant. It's not gonna change your life. It's not gonna mean you can't pay your mortgage. It's not gonna mean you buy a new car.

It means nothing. It's you know, Of course, in a simulator, it really means nothing. because it's not real money. But then what I always do is I would say do that for a month in the simulator and do that for a month with real money and prove to yourself that you can start focusing just on trading the trade the right way and not worry about you know really how much you make or lose and that does mean that during that month you might lose money on commissions.

Okay, so say look I'm gonna give myself. you know, five hundred dollars. You know this month and I can lose the five hundred in commissions I'm not I don't care about how much I make after commissions I'm focusing on before commissions because commissions when you're trading with a hundred shares are a huge piece of the pie. but we were trading with ten thousand.

they become miniscule so don't factor in commissions. Just don't worry about that. For right now, focus on conditioning yourself to take that loss and take it quickly. So the first thing is trading with small size and then the second thing is to use live stop orders even though I person don't like to use them if you used a live stop order.

let's say on small caps that was 10 cents or 15 cents. If you're getting in at the right point, you're getting in at the apex point. These stocks aren't going to look back. Now if you get in at the wrong point, they might pop up and drop 15 cents and then go.

And that says you didn't get into the right point. But if you get it at the right point, they just take off and they go. So like Schmidt for instance, this one this morning. You know if you had said ten cents, top on it and you bought it at 85, you know something like this.

This popped it right up to a high of 409 without looking back. So right there is like 15 cents of profit and of course you could cancel your stop order and sell it and take the profit and you're done all right. and that would be fine. A stock.

You know some of these ones that we've looked at em TSL or MDG s yesterday. You know some of these ones they just take off and they just go and so that 10 cent stop in on a on a home run on an equality trade. You're not gonna get stopped down on trades that pop up and drop down and then go. You'll get stopped out.

And the reality is sometimes that's for the best Because look at this. Let's say on this one, you got in at 19, you had your 10 cent stop. It stops you out at 80. Well I Stopped out way down here at 60.

So stopping out at 80 with a 10 cent loss is not a big deal. and by making it automated where you're using the stop order it kind of conditions you just to be like well I you know the computer stopped me out. It wasn't even me. It kind of takes the hard work of pressing the sell button and you delegate that responsibility down to the computer.

Let the computer handle the hard work of realizing the loss. So you're in the simulator, you can go to the hot keys you go ad hoc he scroll down stop. Let's see. so do a stop order to sell long position with average price.

so this would this would stop out your order at your current average price. So for instance, I'll just say soups I'll set this to shift s for stop orbs shift s to stop order. Okay so that's gonna be my stop order. So now if I go to a stock like like Bio see I'm holding 500 shares in the simulator or whatever.

So I am holding the 500 shares. My average is 601. but the current price of this stock is, you know it's obviously higher than that and I might have to log out, log back in. my quotes aren't loading.

Let's see Bio see what's the price? 646 All right. So I press you know shift s and now I'm gonna have a stop order on this stock right here now. I've got a stop sell order at you know, Five. Whatever it is 6:01 my average cost.

All right. So that's the stop at breakeven I'm gonna cancel that order if you want to do a stop ten cents below the bid or something like that, you go to add hockey, go to stop order and then where is it? Stop Order! Just looking for this stop order, sell long position with average price reduced by okay. so so I think this would be selling ten cents below your cost basis and then the other one would be to sell below the bid. Where is that stop order to sell long position on the bid And then we reduced by ten cents.

So this would be the one to once again. I Got them Do this. Okay so I'm just gonna do shift D for right now. okay shifty and I'm gonna save that.

Alright so now I've got a hotkey on shift D to sell. let's go to another one. I'm up on jaw. So this is Solar stock so on this one.

if I press shift D I'm gonna have a stop order ten cents below the current price. Why my quotes aren't loading here. you have to log out and log back in. but I'll just press shift D So now I've got a stop order that's down ten cents.

So the advantage here ends for the full-size So the advantage here is that you're sort of delegating that responsibility to the trading platform. so you just get stopped out and it's like oh, I got stopped out It is what it is now. The reason I don't do that with the way I trade is because number one: when you put out stop orders, market makers can see them. So if I put out a stop order on a 15,000 share position and a market order can see that, you know they may try to do stop hunting which is where they try to flush the stock down to literally pick up my shares and then the stock rips back up.

So that starts to happen when you trade with big size and lots of people have stop orders out. so for that reason I I avoid using them. But for small size and for a beginner, in terms of going through this emotional conditioning process, it's a good technique just to get yourself comfortable with experiencing loss because ultimately I lose every single day and that's okay. That's part of this career.

It's not part of the career as a pharmacist to make a mistake and lose money everyday, but it's part of the career of a trainer so you just have to get good at it. So practice makes perfect all right. So anyways, that's about it for me here today. You know, 811 bucks.

it's not, uh, nothing to write home about, but that's a Green Day I'll take it and I'll be back at it first thing tomorrow morning. We'll try to finish up this week strong with hopefully a couple more winners. Tomorrow will be the one hundred and thirty second trading day of the year and I'm sitting right now with about almost twenty thousand dollars of profit on the week, which is awesome so you know if I can get another nice day on Friday Well, I'd be happy with that. All right.

So that's the game plan those are you guys watching on? Facebook YouTube You know, feel free to leave some questions. Leave comments below. I'll come back and answer them later. You enjoy the videos, give us a thumbs up and I'll see you guys all first thing tomorrow morning.

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