Hey everyone Alright so we've come to the end of the Italian trading challenge. It's been. well, it's been an amazing three weeks. It's been a little disappointing as far as trading is concerned.

Of course started with a read week first week of vacation that's never fun. second week made back all the losses from the first week so that was good. and then last week and then this week made some good progress. But today's come to my first read day of July down $6,600 so you know blew a little through my max loss which I adjusted to five thousand right now because I'm trading a bigger share size and yeah, so that's a little disappointing.

Started the trip I think pretty much with a red day, finishing the trip with a red day. This just happens that this trip has coincided with a slow period in the market where I took some losses and then things sort of starting to pick back up slowly and then finishing with a little bit of a tough day. So not the best three week stretch. although I kind of liked leaving and traveling during times.

I don't really expect peak market conditions because you know if if I end up having internet problems, you know if I have tech issues or you know the power goes out, it's not that big a deal whereas during October November December January you know those are the times of the year where I really want to be able to be present, be at peak performance, have my computer, have my fiber, internet connection, and everything else. So anyway, so I'll be back in my office on Monday Back on the fiber, try to make a little bit of money start to you know, recoup today's loss and move towards that forty thousand dollar goal for the month of July which is still within reach. We've got 13 trading days left this month. Alright everyone, that's it for me.

I'll see you guys first thing Monday morning. all right, so we'll do a quick midday market recap. We'll just go over the trades, but I took today real quick and just break down first red day of the month. So I'm gonna finish the day down 6,600 which is disappointing.

It's the biggest red day I've had in about two weeks. Last week was all green up 14 grand this week. coming into today I was up like I don't know twelve or thirteen grand and just cut that in half so we'll only be up about seven, six or seven grand on the week and that's a little disappointing. but I am still up twenty thousand on the month which is good considering we're right at the halfway point.

Well actually this is. we're gonna have a couple more trading days this month because we'll have next week the week after. and then we've got Monday Tuesday Wednesday 29th, 30th, 31st. So I actually have 13 trading days left in the month, which is good, but yeah, so hopefully we'll be able to still hit the $40,000 monthly goal.

but today did not help and I'm disappointed a little bit with the price action today. Obviously being red across the board. red on three stocks is the opposite of how my P&L has looked pretty much everyday in the last seven days. I have a seven day hot streak where I made $27,000 and that just ended today with the six thousand dollar loss.

So that's about if you thought of it in percentages. Ten steps forward. Two steps back. losing.

This is about twenty percent or so of those gains. So you know I mean it's all relative and for me, this is acceptable risk. But the winners are always clustered together. and of course the losers are always clustered together because that's trading based on hot or cold markets.

When you're trading in cold markets, you'll find the losses seem to come back to back. So today, leaving gapper in the market was S. Gbx gapping up 90% The thing is I really I just I wasn't that into it and I had the trades I took on it. really didn't work out I took a trade right in here and this first kind of breakout thinking it was gonna squeeze right up to 75 and make a move.

excuse me up to $2 it didn't and so my first loss was right here and then you can see how it curled up and I got back in right here. that was a bull trap but I didn't know it at the time I thought it was gonna work I thought First five-minute candled make a new high and it just the second. I pressed the Buy button it it dropped and I just I was like alright. well that's that's no good.

So I just stopped right out and I didn't have to hold through the halt or anything like that I just hit the bid right here. But yeah, disappointing and this is essentially what looks like it's gonna be a breakout. First candle to make a new high and then to move higher. and so at the breakout point you have a lot of accumulation of buyers which makes sense.

people are buying for the breakout me included. and then the moment that breakout fails, all those people who just bought well, they bail out. Plus short sellers will head to the short side and people who've been holding through this consolidation with a stop down here they bail out and so you have an imbalance and it's to the sell side and that's what creates that. that's sort of pop up, it fails and then strong drop down.

Of course if it had broken through this level you know then that would have been resolution to the upside and it would have been a good setup. But yeah s GPX really disappointing one for me just because my two trades on it were both losers. Vvp are also on the Gap scanner, third or fourth, leading Gapper up 32% Tried to take a couple trades on it and lost on both of them. First trade was right here.

first one minute candle to make a new high in for the break over to 12 or to 13. It hit a high of 218 and then dropped. stopped out, took the loss, got back in right here as this little pullback was forming, thinking it would do the this breakout here now that it's shown the strength of holding. it didn't and so I stopped out a second time.

So last twenty, Noah's 1300 on that one, 2400 on SG BX and O H RP I You know this stock hit the scanners. It squeezed up from a doll from 410 up towards five I bought it at 494 the break over five. it hit a high of 515 and then immediately reversed and I stopped out of that for $2,800 loss. So I increased my max loss to $5,000 which I think right now makes a little bit more sense given the share sides I've been trading with I've obviously been trading with nine to 12 thousand shares.

so to have a max loss of two thousand is kind of tough because that's only a 20 cent loss or maybe even only a 15 cent loss with full size. So I've given the loss a little bit more space up to five, but obviously need to continue to be right 75 percent of the time in order to accommodate that today. Obviously one of those days where if I had just thrown in the towel down 2 grand, I would have stopped a lot sooner and you know I would have been better off for it on other days and namely on on Wednesday I was down $1700 I was $300 off that max loss and then I finished the day up 8 grand. So you know that was a day where absolutely trading past.

Let's say I had been down 2100. you know, an extra 400 bucks. It was the right thing for me to keep trading because we continued to have good opportunities Now today, since I'm read across the board, it's not a good idea to keep trading. We're not seeing good follow-through Overall, the market for small caps to the long side is pretty weak today, so definitely today's a good day to stop.

and maybe I should have stopped a little sooner. Set up on SG BX cost me an extra $1600 or $1,800 so I wasn't below five until that trade and I just you know, it's kind of annoying because I knew it's like I knew that it wasn't really worth it because what was the? the thing I could ask myself is how much is this really gonna go even if it works. The entries is 65, The high a day here is 75, The pre-market high is at 88. What are we talking about? 15 20 cents at best.

Is it even worth it? and you know then here it drops 25 cents. So I took a full 10 or 15 cent loss on it. but I don't know I I didn't really think it was worth it I took the trade anyways and so that was. that was my own fault.

I I wish I had just left that one alone. but yeah, just know we're just not seeing it today and that's a bummer. but you know what all things considered. I'm gonna finish this week with more money than I started the week with which is progress that's great I'm gonna finish you know up twenty thousand dollars on the month which is really good I've dug myself out of the hole from my first week of trading in Italy where I lost 14 grand and but in total on this trip I'll probably have only made about in the course of three weeks I lost 14 grand then I made back 14 grand and then this week I'm only up like 6 grand so only $6,000 net profit for 3 weeks of trading.

You know that that's not great, but of course that's just sometimes gonna happen if you have a little bit of a slow period and you lose some money and then you spend the first week of the next hot streak, you know, kind of digging yourself out of the hole. The span of those two three weeks won't be particularly impressive as of right now. You guys can see my brokerage statements updated on the website at the end of each month I finished the end of June I'm just gonna grab my P&L on the year. Let's see right around two hundred and fifty seven thousand dollars at the end of at the end of June which is good.

So I'm up now to sixty-seven to 77 $277,000 right now on the year the goal is still five hundred grand and I'm gonna need to I'm gonna need to have a strong probably October November December to get there I Expect that the month of August will be a little slow. it's that part of the summer where you know things tend to slow down a bit. So what I'm probably gonna do going into the month of August is take a bunch of money out of my account and just make it. So even if I want to be aggressive I can't be that aggressive because my account is smaller and I think that'll really preserve preserve my equity through slow summer months of August and then it's into September When things start to pick back up, the account will grow and I'll be able to start being a little bit more aggressive.

So anyways, that's kind of my game plan as we look at August but interestingly this week has been terrific. I mean vis say last week was great. This week has been solid. So you know today a little bit of a departure from these hot markets.

I Was really hoping it would be my eighth consecutive Green Day by a little step back so that's fine. You know Again, keeping it in perspective. If you get so hyper focused on like just one day, you know you can get yourself bent out of shape. You can start getting way too aggressive.

and the big picture is one day, as long as you have reasonable risk management, one day we'll never make or break your career. so it really doesn't matter if it's not a good day, just you know, put that day away and and finish it off and be done and come back tomorrow. So that's what I'm gonna do today. There's no reason I'm going to try to get bent out of shape to make this my eighth consecutive Green Day and go take a fifteen twenty thousand share position on the next stock that hits the high today.

Momo Scanner not worth it. Today is not the day to be aggressive like that. so we'll take the red day. you know, eat the loss, learn from it and come back tomorrow or on Monday back in my office and hopefully recharged, feeling good and ready to keep making progress on the month of July towards that forty thousand dollar goal.

Alright, so that's it for me. I'll see you guys first thing on Monday morning. Enjoy the weekend everyone! if you're still watching, you must have really enjoyed that video. So why not subscribe and get email alerts anytime? I upload new content.

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