What's up everyone? All right? Well here we are. read: they recap first: really good-sized red day in a while. For me, it's always disappointing. I never liked having big red days.

Today kind of was the perfect storm where I was I'm using a mom I knew a trading computer which you know as always you switch computers and some of your settings I tested them out, but you know some of them aren't working. like for instance, none of the audio alerts we're going on my scanner so you know right at the bell. Of course that's when I realize it and I've got to kind of quickly to get them turned back on. so I can know what's moving in terms of the audio alerts.

So little things like that kind of threw me off my game a little bit and it was snowing out. Was running a little late to work so it's kind of like a little bit flustered and sat down leading gapper life. jumped into it right out of the gates and and then you know my first trade was a small winner and then jump back in and it just was like a big drop and I got back in a couple times. I kept kind of going back for it and I just kept losing on it.

It was like ridiculous is frustrating and so I took five trades on life and I lost on three out of the five and I lost over $7,000 just on that stock which is terrible. it's just not. It's not great I'm not happy with that. I did make money on CT IB which was good.

that one squeezed up about three hundred percent. I made about four grand on it even though it made a really big move I didn't feel like I could take enough size because I was kind of chasing it the whole way. so I kind of took small positions breakout, breakout, breakout and then I gave back a thousand dollars on the last one. so finished up only three grand.

and then there was a third one that I lost on. So just kind of a choppy day and I'm a little bummed out, but you know it's it's the way it goes. So I hope you guys enjoyed this red day. recap as I get into the details of the three stocks I traded green on only one out of the three.

Obviously not a super-strong day, but maybe a couple days of rest before we see kind of the next wave of momentum and we see some more stocks start to really open up. Alright, so as always questions comments, leave them below and they'll see you guys first thing tomorrow morning. Hopefully we have a good Gap scanner when we log in tomorrow morning. Alright, see you guys in the morning! Alright everyone so we're gonna go with trades from this morning.

Today is gonna be a red day recap and it's the first red day in a while. I'd have to go back and look at my calendar and see when my last red day was, but you know I had a close call. Red day on. it was either the day before Christmas or two days before Christmas where I went down about $2,400 and then ended up finished in the day up fifteen thousand a today's a day where I went red I bounced back into the green and then I dropped back into the red.

So you know the in fact I'm more red than if I had just stopped trading after my first you know, couple of trades, but hindsight of course is 2020. It's easy to say that looking back that I should have just walked away sooner at the time. I Thought it was worth continuing to trade. so let's look at the Gap scanner and we'll put up life first because this is the one that I'm the most read on and it's the one that was also deleting Gapper.

which is kind of disappointing that it ended up failing as much as it did. Alright, So at 9:20 this morning, life was on the Gap scanner gapping up 68 percent and this was our pre market chart it had. Let's see, let me just refresh this. This was that.

Is it really that much volume that doesn't look right? Um, 915 huh? I Don't recall it having that much volume? No, and it's it. That's not possible because it's got 8 million shares of volume right now, but it had a lot of volume. Um I think it was maybe about almost a million I think Oh like eight hundred nine hundred thousand shares. So I was gonna say that I would have liked I would have noticed that so the pre market high was $8.00 and generally speaking I thought okay, this you know this looks interesting over the pre-market Hi is there a place that I can get in a little earlier to anticipate the breakout? and I thought that looked like about 7:30 to about seven dollars and thirty cents roughly.

So the bell rings and in the first 1 minute and I will just. and and by the way, the daily chart we were opening above 200. No clear gaps or windows on the chart, but now also nothing really concerning. So I I just kind of left it there for the time being.

alright. So on the 1-minute chart the bell rings and I jumped in right here for the break over 7. It was right over 7:30 I'm in at 7:30 it pops up to 7 62 I take my profit it then drops back down to 690. I'm only out with about 300 dollars a profit.

It was a quick move, it then curls back up and on the next candle I jumped back in thinking it looks like it's gonna break back over the highs and that was right here. This candle squeezed back up to 55 and I got back in at about 45. 48 for the break of 50 that after it broke the half dollar that it would rip back through a high a day and you know then we'd be looking at this sort of 8 dollar spot. You know this ended up doing a couple of really big whips where it kind of whipped up and then just flashed back down and so in this trade right here I got back in it with 6,000 shares for the break over 750 it hit 755 and then drop back down to 7 and I lost 3 grand.

So just like that I gave back the profit I had made and I was down about $2,600 on it. Alright so then it flushes down here, it drops down again, it comes back up and it just continues to show this choppiness. It hit a high of 50 of 50 but it couldn't break over this 50 55 60 level. so you know just kind of struggling.

false breakout. we watch it continuing sideways. right? here was where I ended up taking my last trade on it and this was a really disappointing trade and I jumped in this as it was squeezing up because what I thought was that we were getting ready to have a break of V whap, a break of V whap and then a quick rip up through the high a day and so as it started to squeeze up on this candle I got in at 680 adding at 690 and adding at 7 I took 11 thousand shares which was the biggest position I'd take him all day I thought I really thought it was gonna work and if I look at the 5-minute chart, you know maybe I should have been a little bit more cautious. The first three 5-minute candles were all red and weird.

Oh geez, you can see these long topping tails and bottom tails and it was very choppy. It was really whipping around I Thought that if we had this tipping point of break of V whap that we could get a quick move. I thought it looked like the right type of stock that could do that. and and maybe maybe it was earlier here.

but after these three candles, these are like three big kind of red flags, you know, waving right in my face. Red Doji Red doji. Red doji. it's whipping around.

it's very choppy and so I jumped in here on this green candle which was a pretty big green candle, no doubt about it. it looked at that moment like pretty good. It was the biggest green candle in a while. pretty high volume second to this one.

but of course this one did something pretty similar and this one did something pretty similar and so did this one. So it hit a high of 706 and I was actually planning on adding up to 15,000 shares if we broke over 720 Now obviously if that had happened and then it did a quick rip up to 747 57 60. That probably would have been a $7,500 winner, but that's not what happened. It ended up dropping right back down to 660 to 650.

I hit the bid at 662 and I filled 5,600 shares I then hit the bid again I didn't fill at 45, it dropped too fast and I ended up hitting the bid at 621. So you know I ended up losing on that trade a solid $5,000 you know and and that put me. That just really kind of ruined my day. Now at that moment, I was already read because of TR and X and I'd give him back the profit I made on CT IB on on on TR NX So I was I was already not in great shape on the day and that just ended up being the trade that was was the end of the day for me, so that was disappointing.

It was a false break as you can see, and what sometimes happens is when you have these can be particularly strong setups in the sense that when you have a false breakout to the downside, the stocks can rip up really quickly. Like right here. We had sort of a double bottom at 6:55 and there's it ripped back. That almost looked like a pretty good setup because anyone that's shorted into that double bottom gets faked out and that's the cover as it rips up.

But on the flip side, anyone who buys into this false breakout ends up having to bail out. Plus, the short sellers go short and that's where you get that imbalance to the sell side. And that's kind of what creates the some of these big whips in these types of stocks. So definitely disappointing on Life.

I took a total of I believe four trades on it and I was read on. Let's see, Actually, no I took five trades and I was read on three out of the five and the two winners that I had were both pretty small. So I'm well in the read on Life and I'm disappointed with that, you know, But at the same time it's it's part of trade. I Mean you can't be too disappointed.

You can't let a stock you know make you crazy. This is part of trading. You're not gonna win every single trade. We all know that.

so it just means keeping your losses as tight as possible and not overstaying your welcome. I Think the mistake I made on this is that I overstayed my welcome on a stock that was already showing a lot of choppiness. Yes, break a few app is a valid setup. It's probably the only thing that would have worked on this, but I sized to aggressively considering it had already shown so many warning signs.

so that was a mistake on my part to be that aggressive. So the loss I still probably would have traded it, but the loss maybe should have been a little smaller if I had been a little more mindful of the risk on that stock. So so that was life. So anyways, I started the day down 2,400 on life but I actually got myself into the green by about $2,000 on CT IB I'm up only three grand on it right now.

so CT IB it was on the Gap scanner right here. but I didn't have a lot of faith in it, mostly because at the time it was a cheaper stock, it was down at around a dollar 20. Well, it ended up squeezing up to a dollar eighty three and getting halted on a circuit breaker. It resumes I get in for the break of two dollars.

it opens it a dollar 84. It dips for a second then surges up I get in it - and it rips up to a high of 241. I'm holding a small size into this Hult This is a 5-minute chart. If we look at the one-minute you'll see that it squeezes up I bought it right here for the break of two hits a high of 238.

It then dips down I'm all out I sell as it curls back up. First one minute candle to make a new high is over - I Got back in actually at - 229 I think it was 228 I Got in a little high or maybe it was 220. In any case, I got in a little higher I wasn't totally sure it was gonna work but as it started to open up I jump back in and it rips up to 241 and gets halted, it resumes and I add coming out of the halt for a test of $3.00 I hits a high of 333, almost halts again it doesn't it then doesn't micro pull back first camel to make a new high. it pops up to 365.

another pullback here. Back in for the break of 340, back up to 375, a dip and a pop to a high of 385. So I ended up making $4,000 on that move right there which was not bad. So at that at that moment after that trade I had gone from down 2500 on life to up 4,000 on CTI B I was up like $1700 on the day which is a pretty good day.

Not bad at all. I ended up getting back in with a starter right here. It was right around this spot here and when I got in it that this was right around 10:30 That was when life did this break out right here. 1021 Ok so actually I got in it and must have been a CTU IB must have been right.

It was like right right in here somewhere and there was that wasn't right there. Anyways I got it I got back in it in this area with a starter and I was just holding him I ended up stopping out and it ends up going all the way at 4 so I ended up giving back so my profit on it whatever. but I stopped out because I was losing on it and I need to focus on life. So I switched gears to focus on life which you know obviously was a pretty quick trade and then whatever hit public below my max loss.

So umm CTI be finishing up 3 grand on it I'm a little disappointed that I didn't do better but I was I guess a little distracted by life and that early loss would put me a little on the defensive and then once I ended up hitting max loss on it I was done for the day but second stock had traded after CT IB was TR NX this one. you know it's kind of frustrating. all of a sudden it pops up from 120 130, 140, 150 and I looked at that and I was like this looks really similar to CT IB and I thought there was a catalyst on it so I jumped in it at 48 and 55. the halt level was I think it was 65 I thought it was gonna squeeze into a halt I thought because this looked really similar to CT IB that it would have.

it would kind of trade in a similar way which is often the case with momentum that several stocks either in the same sector or similar price range or similar technical setup like float or resource flip will trade similarly. So when I saw it squeezing from 120 130, 140, that was my analysis. What I failed to do on it prior to getting in was check the float. The float was 32 million shares.

it was not on the hide a momentum scanner. it was being called out by traders in the chat room because it was moving quickly which it was. but I neglected to check the flow and so I jumped in it and because I thought it was looking so similar to CT IB and looking good I took bigger share size this candle right here it drops from 155 down to 131 I held through that drop. it happened very quickly.

It then consolidates here I gave it a second to bounce back up and as it broke 135 here I bailed out and hit the bed. So that was disappointing because on that trade I gave back most of the profit on CT IB and I put myself back in the red on the day because of course at that point I had taken $2,500 loss on life I'd made 4 grand on CT IB which put me up 1500 on the day and I lost 2500 on TR NX So now I'm down a thousand on the day again. So I'm back to red on the day and that was before my final trade on CT IB where I lost another thousand and my final trade on life where I lost another five grand. So overall, today was not a great day and you know today is a day where I'm in between small account challenges and so I'm trading in my bigger account and you know it's like in my bigger account.

Of course I can trade with larger share size and it just so happens that you know I haven't been focusing on the large account for the last like month because I've been doing small account challenges I've been trading it sort of on the side, but not focusing on it. you know, as as much as today and then today the day I'm focusing on it trading with larger share size. We end up seeing really kind of choppy action so that's disappointing to say the least. You know it's it.

Feels like today is one of those days where it is a pretty big step backwards. Relatively speaking to you know how I what my Green Day's it. But now they say that I haven't had some really great green days in the last month. I mean you know I can't I can't say that I have them because I've had some great days.

$15,000 $19,000 several five, six, seven thousand dollar days. So you know to be read down 7300 in this account is it's not the end of the world, but it's also sort of the beginning of the month. it's the beginning of a new year and sort of. so it sort of feels like you know not the right direction to be moving in initially.

But that's a very short-term outlook because trading is all about averages and you will certainly have days where you lose money and the goal is to try to keep those days as as small as possible and then you know if you do have a day that gets a little out of hand and the loss is bigger than you wish it had been. one of the important things to do is to kind of recap what did you do that day and that's why these recaps for me are really so beneficial, not just for you but for me as well because it forces me to go back through my trades and kind of ask myself, where did things go wrong and I would say today that things went wrong when I took this trade on TR NX because I traded it impulsively without doing my full checklist because I saw it moving and I wanted to jump in that momentum and I didn't realize until after the fact that this stock really didn't fit within my wheelhouse and at that point now I'm back to read on the day and I think that kind of experience of going from read on the day to green and then back into the read set me to be maybe searching for something more aggressively that could put me back to green. which is why I got back in CCI be for that final trade that I ended up losing a thousand bucks on. and it's why I got back into life for a potential break of V whap which did not end up happening, you know? So oh, I think I got in for the first five minute candle to make a new high.

it was right here and then I got stopped out. Maybe it might have been right on this candle before this thing ended up ripping up, but at that point I was I was not in good shape on the day. so you know, um, live to trade another day. I Mean that's that's the important thing.

There's no such thing as a trader that doesn't have losses from time to time. There's no such thing as a strategy that doesn't incur losses from time to time. It will happen to all of us and to the best traders and even the very very best traders in the world who trade. You know, with seven eight figure accounts, we'll have days where they end up losing.

You know, who knows. a couple hundred thousand dollars, half a million dollars, maybe more. You know, big big money traders, so it's all relative. The most important thing is that if you're trading with real money that you're able to say that this strategy that I trade is consistently profitable over the long term as long as I stick within the rules.

Now, if you venture outside of the rules, then you're bound to get yourself in trouble. So having that reminder every day of what my rules are and staying within them is important today for this account: I I did not have three consecutive losers and I didn't have Well, I guess I gave back more than half of my gains technically speaking because of the profit on CTI be and then losing it on TR NX I guess I didn't really look at it that way because I had already been read on the day and in the moment I Just it didn't quite occur to me that I had crossed that threshold. but I guess I had and then now I'm down below my max loss so which is set at $5,000 on this account. So this is my big account.

I do trade aggressively in it I'll have some big green days, but I will have some big red days. Over the course of you know, months and years, the account has consistently grown, so this is just gonna be one of those days that I'm gonna close read. It's disappointing have a big red day towards the beginning of the year, but it's also a good reminder to focus back on the basics of the strategy, knowing what works, and everything else. So anyways, that's it for me.

I Hope you guys have a great rest of the day and I will see you as always first thing tomorrow morning where hopefully we will see a little bit of better momentum off our leading gap or life today just leading Gapper and it's been terrible all day long and that kind of set the tone. I Think for the rest of the day, which is unfortunate. you can see this stock popping up now q uik from 7:00 up to 8 31, right? So when you see something like that, it can be very tempting to jump right on it I'll pull up the level 2 just so we can see what it looks like. It's got a hundred thousand shares of volume with large spreads.

This thing could go right back down just as fast. So at this time of day, this is where a trader who's in a state of desperation can start throwing money at the market. and if you're jumping in stocks with 30 cent spreads with 3,000 shares, your instantly down $1,000 So you're going into this with basically the cards stacked against you and that that's not gonna work long term so you have to focus on highest quality setups. and I think today I over traded crowded stocks CT IB got a little crowded TR and X was very thickly traded and life became very crowded.

So with the loss today is the result of probably over trading a little bit. So anyways, I'll be back at a person thing tomorrow morning. Press the reset button and hopefully we have some better momentum in the market. Alright, see you guys in the morning! Hey, have you seen my most popular video on YouTube? It's got over 5 million views.

You can check it out right here and check out one of my other videos on YouTube right here I Hope you guys enjoy it as always. If you have questions, leave them down below in the comment section. I Personally respond to every comment that's posted.