What's up you guys? Alright, well today's a day where everything that could go wrong went wrong. Today was a disaster. It's snowing outside as you guys can see and so I'm trading from home I'm not in my typical trading station of enough light all my monitors I don't have you know I'm just I'm working with what I've got. but I knew that today was gonna be a bad day I just didn't know how bad it would be.

So let's get into the recap. All right everyone. So and we're gonna go over today's recap. you know this was yesterday.

I'll just start by going over yesterday yesterday I knew we had a snowstorm coming and so I went down to my office downtown and I grabbed my my two USB monitors because I had left them at the office over the weekend I usually bring them home with me but I think last week I was like you know I I probably shouldn't bring to carry these around everyday I might end up breaking them so I'll just I'll leave them at the office and then of course you know we have snow coming in on Monday So I had to go back to the office together. not a big deal. So I go down in the office I get the monitors and I come back up I set them up here in my little office at my house which is okay, you know I have fiber. However, I've never really used this office a whole lot for for trading and I only have one ethernet cord.

Alright, so I've got I've got one ethernet cord. But today I have two laptops and my plan would this small account challenge was that I would be recording my trading every day. So I'd be recording my trade. So you guys and you know would be able to go back and watch you know the trades, especially from the first week or the first two weeks in the small account challenge.

I Thought that those would be really especially helpful for you guys to see. The problem is that you can. normally the software that I have I can only screen record one monitor at a time and the monitor usually broadcasting is the one over here on the left side. So I was like alright.

Well then I'll use my other computer for broadcasting my scanners to the chat room and to Youtube and then this computer I'll use for trading. and so this morning I started streaming on my two computers. You know this one was great because it was on the fiber hard wired. this one was on Wi-Fi and it kept dropping out and then you know within like three minutes I saw people you know complaining the screen shares blurry, this audio is cutting out and then I was streaming on YouTube and YouTube was not working.

So I was like alright and this is around 9 a.m. So I was starting the day feeling a little flustered. the dogs were barking, the plow truck was here, you know, everything was kind of building up and I was like okay I'm I'm feeling my blood pressure rising I'm feeling myself getting more and more frustrated with every bark that I hear and every you know I just it was. It was just escalating.

so I was like okay, what am I gonna do here and I've got you know a situation I need to kind of work through it so I said you know what I'm gonna ditch the recording I'm just gonna I've got to just have a good broadcast so it is what it is I'm not gonna be able to record today, that's fine. So I just switched back to using this computer only which was hardwired. so the broadcast when I did that was back time and so then we started going over the watch list. We've got that figured out, started going over the watch list and the leading gap of this morning was aslo.

now a SLN is a stock that I did really well on last week. I mean I really smoked it it was. It was just some really solid trades and great opportunities. So the bell rings and by the Soto by the way, this was gapping up.

with a pre market high of 8 dollars and 10 cents. it was looking pretty good and the only thing that I was a little worried about was they already had 1.5 million shares of volume pre market as of right now. It has nine Point Four, five million shares of Oli. so the bell rings and as you can see, right at the open stock dips down.

So I'm watching it right through here and I said I think over 650 it's gonna be a red to green move right here and it breaks 650. but I was like you know I'm a little hesitant I'm a little nervous because it's a lot of selling that we just saw these first two candles so I'm not sure. And the thing with the red to green move is that inherently a stock that's red has shown weakness. so you're buying something that's kind of weak which is not I mean it's okay, right? - green moves can work and this one did.

But the first camel to make a new high right here. it popped only up to 70, but the spreads were kind of big so if I taken that tray it I almost definitely would have lost money on it, then dropped down and then right here. it ripped back up and squeeze all the way. It broke the high of this level of 670 which would have been a potential entry.

It broke 670 and then it broke the high. It tapped $7 and pulled back for a second and I was like hmm should I get in it here and so I'm looking at my level two and then I click on it and I try to click shift 1 because I wanted to see how many shares I'd be able to buy and nothing happened and I'm like what is going on here This is insane. Well nothing happened because I had a lost connection window that was up above my order window I lost connection during my pre market watch list and I had an even though the quotes were streaming I hadn't closed the window and it was underneath everything else. So I you know.

so once again, technology failure, just frustration. But I thought to myself, you know yeah, I saw I hit 93 693 and then it dipped for a second down to like 663 or 673 and I was like you know what? that's 20 30 cents. that's a that's a big drop I don't know I don't know if I can risk it and then it breaks through 7 7 58 all the way up to 818 and it gets halted. So now it's halted 818 and I'm sitting here you know, holding my hands like this, just feeling like God de missed it.

With even 200 shares, this could have been $200 A great start to the small count challenge. So coming out of the hall I'm like okay, it's gonna resume from the hall five minutes later I'm gonna watch it coming out of the hall I think I'm gonna get it and guess what happened it resumed from the hall I'm about to press the Buy button and then it doesn't break the high right here of 18. it opens at 18 and it flushes down. No trades.

that was a close one and it comes all the way back down and it gets halted going down. So this is some pretty crazy volatility. I mean this is honestly this is this is tough stuff to trade. So what we saw was a swing first to the upside and then a swing back to the downside and then through here I was like I'm done with it I am NOT getting back in this stock unless it breaks over 818 and it has not broken over 18 and in fact I said below 6:30 is a short right here but I didn't want to take a short I felt like that was it was sort of past my first hour of trading so I was like I'm not gonna try to short but it ended up, you know, being kind of a quick little drop pop up and then a nice resolution down to 555 and that kind of bounce off that level.

So that was a SLN. Now while a SLN was squeezing up, we had Bibby be IMI pop up and all of a sudden the stock squeezes from 320 to 340, 350, 360, 370, 380. It does a little pullback at 4:00 and then surges up to 455 and I'm watching it as it's surging up. But here's the problem: Stocks under $4 I don't have margin on so while it was under $4 I had no margin.

the second it crossed over for I was I had my margin on it but then it felt extended and so this squeezed up and this final kind of high was right here at 9:40 A SLN resumed at 9:41 and when it resumed it dropped and so did Bimmy. Bimmy was kind of trading simple a SLM and so when ASL and dropped, Bimmy dropped as well and so here we are. Day one, no trades and I would say thank goodness you know my my concern here this morning and these were just test trades I was just having an issue with my my hotkeys I was trying to I was I was getting orders denied so just testing stuff. So no trades today and this is a day where I really strengthen that muscle discipline.

Those who guys that watch my video over the weekend about the the things I wish I had known when I first got started trading and of course I talked about a number of different things but one of them was really the importance of building that muscle of discipline today was not easy. Today everything started wrong my you know I lost internet twice. power flickered a couple times now I have a backup generator for the whole house. but you know that if we lose power, everything drops and then it crosses over.

You know so it for a second. I'm offline and so when power flickers, it effectively does the same thing I drop off for a second and then I'm back up being on a laptop I don't Actually, the computer doesn't turn off, thank goodness, but things drop for a second. So lost, you know, the internet. A couple times, this computer was really frustrating.

It was not streaming well and then when it was streaming for a second, everyone was like your audio sounds terrible. So I had to go scramble and find this headset that I wear when I'm doing a seminar. It's like the seminar that we've got coming up in Miami so you know I had to switch gears real quick and grab this thing and plug it in and change my settings. So then I'm using this.

but then the broadcast drops anyway. So it was like everything that could go wrong went wrong. and you know what it probably would have done when I was a beginner trader out of frustration. I would have just said screw it I'm take trader I'm jumping into Bimmy.

At 450, it's gonna rip to five. you know, forget it I'm just getting in because you know what a winner would make me feel better I Don't feel good I'm frustrated I'm annoyed. Surely a nice big green trade will make me feel better. So that emotion of feeling kind of off your game and disappointed can sometimes lead you to take an impulsive Trade because a winner will make you feel good.

Unfortunately, that's an impulsive trade and you're thinking about the wind potential, not the risk potential. So on a SL n I'm gonna bring this back just to a 10 second chart because I want to show you this kind of micro pullback that occurred and I want to show you why I hesitated on him because I did hesitate and for me this was what I was asking myself I saw it pop up right here to 695 and the MS candle it dropped down to 670 so it dropped 25 cents. Now if I press on this a SL n if I press shift one shift one is going to prepare an order using 50% of my buying power. so that right there is 50% of my buying power.

200 shares 75% of my buying power is 300 shares, 90% of Noes 90% of my buying power is 360 one shares. So I can see how many shares I can take. but I only have $500 in this account. If I'm down to if I'm down 150 bucks my account will auto liquidate and they lock it up.

So if I take a trade let's say with 300 shares if I bought this for 300 shares it at 95 then when it dropped here down to 70 I would have been down you in this case about a hundred bucks. but let's say it dropped to 50 for a quick second, they would have market ordered my position, close it, and now my accounts locked and I've got only 350 bucks left. So I was really mindful that that's real risk. so something that's as volatile as this that has already done you know, one false breakout right at the open where it looked like it was gonna squeeze over 720.

a second false breakout right here and this one, you know, kind of seemed like a third one for second because they hit 70 and then drop back down to 49 and then it broke. But then it pulled back here and this was that moment where I asked myself not how much can I make on the trade I knew that if it worked, that could make a good amount I asked myself how much I'm risking taking this trade can I afford the risk and the answer in that moment was no because I have a small account obviously right now I'm on day one of the smallest of small accounts that you can possibly have five hundred dollars I mean this is a tiny account and if I had a thousand or two thousand or three thousand, I probably have gone ahead and taken this pullback trade I could have I would have had the cushion and been able to afford a little bit of the risk, but on this day I had to be careful and that meant sitting on the sidelines. It's even You even look at the overall market right now you know the overall market is. It has been up so much this year.

you know there's a party part of anyone that might think man I should have I should have done a refinance on my home and and put the that money into the market I'd be up 15% this year right? Okay, yeah, I guess so, but what if they had gone the other way. At any time when we get a recession, the market can drop 30% So yeah, that 15% reward is nice I've won things so that's great. No one complains about a winner, but could you have handled it if you did a refinance and then lost 30% your money and you now have stopped a mortgage payment and the answer is probably no. And similarly with a trade like this on a SLN could I have afforded the risk and how would I be feeling right now if I was doing this recap and I said listen guys I jumped into this SLN trade you know and it it just it did this move this big big drop you know two seconds after I got in and I just blow up my account it's done, it's gone I got start over that would feel that would feel pretty bad now that this could happen to me.

certainly and if it happens as a result of trading a setup that was totally following the rules as just a you know, crazy kind of drop a freak type of thing. fine, whatever. that's that's part of trading and all. I'll live with it.

but if it happens if I take a loss like that because I've given to FOMO or it given to frustration, that's where I'm gonna be upset with myself. So um I had a bunch of you guys and over the weekend leave in comments on my videos and stuff asking about which broker I'm going to be using for the small count challenge. So you can see this is Cmeg right here and this broker will let me day trade as much as I want with a five hundred dollar minimum. So I put in my 500 bucks and I can day trade as often as I want I do have to pay Commission it's not a free commission broker like TD Ameritrade or each rate I pay a commission of two dollars for every trade I take that's a group rate for warrior Pro students that are joining right now as I'm starting this new small account and so it's a special kind of promo rate that's in place right now and then I have a nice en fee.

you know the toll for every share that I trade. So those Ecn fees can be anywhere from point Zero, zero, one five meaning an extra 150 bucks on a thousand shares two Point zero, zero, three which would be an extra three. dollars for every thousand shares. So trading a thousand shares, buying and selling could cost me between.

well, five dollars to buy another five to sell. That's ten dollars, you know, maybe 15 at the most. So I've got to make at least a dollar or at least a penny per share. Really just a cover my cost.

So a trade where I got in something and I'm only up two cents per share? Well, that's really not going to be much of a winner after commissions. so I've got to be mindful of that as well. But anyway, so this is where I'm sitting today. No trades and it didn't trade in my Lightspeed account either.

I certainly could have, you know. But today, and as I kind of am starting the first week of a small account, I'm really focusing on this account. now. What I'll probably do is, you know if I have one really good trade in this account, I'll probably say okay, that's it I made my hundred bucks I'm done with that account for the rest of the day.

I'm gonna focus on this account, you know, for the rest of the morning. but this morning I just never got the opportunity to build a cushion SLN was too quick, bimmy didn't hold and I I didn't want to give it to FOMO Right now, my last I think eight out of nine days have been green and I'm on a little bit of a hot streak. I did have one red day in there where I lost five hundred and today's gonna be a no-trade day. But you know the thing to remember is there is always gonna be another trade around the corner so there's no reason to.

you know, chase one of these and end up blown up your account when there'll be another opportunity that you can jump into. no doubt tomorrow or the next day. So that's my plan right now. Not the most exciting start to my small count challenge, but just a great opportunity.

Strengthen that muscle discipline. And I told you guys I was very clear that it's very possible I won't trade on day one if I don't see something that's perfect and you guys should, you know, have that same attitude. If you're trading with a small account, quality over quantity trade the best. Leave the rest.

it's got to be the way. So that's it for me. I Hope you guys have an awesome afternoon and I will see you all first thing tomorrow morning and hopefully we have, you know, some more stocks on the Gap scanner. Hopefully we have something that maybe isn't quite so crowded in a pre market and we see a little bit clearer, clearer momentum I Think a good way to kind of measure momentum today is or any of the small cap stocks that we're on the watch list this morning at PI a day right now or near high a day and the answer's no.

Most of them that popped up have ended up coming back down, so we're not seeing a lot of Momentum sustaining. That's okay. Live to trade another day. I'll be back at it tomorrow.

Alright, see you guys in the morning, everyone! Hey, did you know that I Go live every single morning between 9:00 and 9:15 to stream my pre market watch list subscribe to the channel. Press the bell for the alert and you'll get the.