What's up everyone? All right? Well, uh, a Red day? Yeah, this is frustrating. Thursday Flat? well for seven dollars? whatever Friday No trays Monday No trades Tuesday Red 400 today Red 2,900 Well, you know what the loss produced. An awesome recap. You guys are gonna enjoy it.

Watch to the very end some really key life lessons about dealing with frustration, being patient, and the process of finding success in a market where it feels like you're only successful when you're financially well-off and there's no pressure about whether or not you make money, so that's not fair. We'll talk about it during the recap. I Hope you enjoy it. comments questions below I'll see you guys first thing tomorrow and you know what? tomorrow? 1:00 p.m.

Eastern We're gonna host a workshop where we're gonna talk more about this stuff. so make sure you guys register. you can see the link block. Alright, see you there! alright guys, So recap here today.

Second red day in a row was down 400 yesterday. We'll give back about 2,900 today. This is a little bit of a frustrating day for me on Evh, you know I I Really just had a hard time with this one. The first place where I took a trade was right here on this on this false breakout I Jumped in it for the break of 20, in at 15 and and and 20 and then stopped out at 97 so lost 1200 bucks.

You know the next entry I Jumped in trying to scalp the break over eight dollars and you know I was I Hesitated to buy the break of 20 because I felt like you know getting in for the break of 20 was I just didn't expect it to work. you know it sort of did a little false break here. false break here and I hesitated and then it rips up to 58 and I was like alright, well hmm interesting. should I scalp over 50 a and I didn't scalp over 50 a and then it squeezes up to 810 and I jumped in because you can see here for the break of 8 and you know that that just didn't work out well I topped out at 810 and then just gave back that entire move.

So part of me was thinking I would wait and go shore and then I was because I actually did have shares available to borrow and then I thought now it's that's gonna be You know if I do, if I short this, I'm this might be the one that actually surprises people and if I'm thinking about going Shore then then I'm probably way behind like you know that's because I don't usually short these so so I didn't short I just was gonna take a little scalp off the top for the break of eight but it reversed as you can see really quickly there. so at $2,900 in the red, that's not a great day. This is a tricky stock with a false breakout here. This kind of setup here, which I would have done a lot better on just either shorting or not trading at all.

but you know I think the problem for me is that at an 80 million share float, this one's just not as predictable. I'm getting a little caught off guard with a false breakout. What? I expected would probably be another false breakout here I hesitated it then rips through the high and makes what is a pretty impressive $0.75 breakout which you won't typically see from an 81 million shares stock. So I don't know, just kind of got on the wrong side of this one.

Better trades would have maybe been I mean this one I don't really know that this had this consolidation here I took a trade for the break over this level I think that made sense. so that was a $1200 loss. Getting back in here for the break of 25 I had it mapped out and I thought that that would be too risky because the stock has already done a number of kind of whips where it looks like it's gonna go and then it does a false breakout. so I thought well let me wait for confirmation but the high was 47 so I was like well now I can't no no, no I really buy it 247, it's probably gonna drop right back down and I actually had an order ready to go short at 750 and then I thought, well let's give this a second, this might surprise us, this might be stronger than I thought and as it rips up here: I took my starter at 88 and in the same second I was getting filled at $8 you know.

and this really shows the the damage of using hot keys because that's a 12 cent difference index in the fill in the same second. Now if I'd filled my whole order at 88 when I was selling and taking some profit at 8:06 that would have been a winning trade, but because part of my order filled right at the top at a obviously that was that was too high of an entry, we hit a high of 8 10 and then reversed off that level. So I guess I'm a little bummed out that I am this far in the red because that's gonna put me down a little over 3,000 now in the month. I was down 300 on the month coming into the day and now this is a good-sized loss.

So you know this is a little bit of an unusual start to a month to be this far into the month and really kind of before today, not feel like I was on the scoreboard at all four days into the month not being on the scoreboard, just being basically flat is not good and now I'm on the board. but I'm going the wrong direction. so you know this is just a continuation essentially of July which is difficult trading the last big Green Day I had two weeks ago today I made $3,700 which really isn't a very big green day. I mean relatively speaking.

so it's been two weeks since my last $3,000 day and my last a really good day was an $8,000 day and that was a full month ago. Now on this one: I probably could have made 8,000 if I had been a little more patient and had the conviction to hit it to the short side at 8:00 with a stop at 8:10 but I didn't have the confidence to take that trade and so I didn't go short. I Thought it would be safer just to scalp a little profit off the top and I ended up losing another $1,500 So you know in two trades, neither of them were blowout losses, which is good, but neither of them were obviously winning trades. So this right now is gonna be, you know, continuing a month of trying to just do capital management and capital preservation as much as possible.

If I have some days where I do get back some profit which I expect, you know then that's that's a that's okay I'm alright with that. I just I Do hope that we start to see some better follow-through at some point. It's kind of. for me.

it's always difficult because I know that this is my worst time of the year and so there's part of me that's like, why do I? Why am I even bothering? You know, why am I even gonna try to trade through my worst time of the year I might be better off taking the whole month off. just really don't even worry about it. this is. you know these last this last week for instance has been negative.

but at the same time, you know part of my commitment is to show up every day and trade and look for opportunities. and I don't want to miss an opportunity and there's some FOMO in that because you know I feel like the day I don't show up is the day that we'll have a stock that ends up squeezing 300% you know and it's like oh man, you know and that might be the one opportunity for the entire month. That's kind of, you know I Think you know the fishermen out there trying to catch the like the big yellowfin tuna. You know the man, when they catch a tuna, it's like a six eight thousand dollar fish.

Potentially, you know they're god forbid they take the day off and they miss that one big fish of the season. I mean that can make your season. Now you know trading as I say it's not about one day making or breaking your career, but in the context of short periods of time. A week you know, or a couple days you know can feel like boy that that one trade could have made The difference today.

on Evh, this one trade could have made the difference had I had the courage to press the Buy button 225 I Just would have been riding that profit right up through the highs instead. I Was timid about pressing the Buy button because of the false breakout. so I didn't want to take a trade until it had proven strength. but then by that time gosh, it was really extended and it wasn't realistic on this one as it turns out to expect that it would really really open up.

I Mean it opened up, but not crazy. You know 75 cents is good, but you know crazy open up would be that it moved up to 850 and then it actually held that level. You know this is a big red candle at high a day, so this is just the market. you know, kicking up some some dirt and you know you eat it a little bit.

That's part of the deal. you just gotta embrace that. This is part of the Careers trader. There's ups and downs and I have no right to complain being up.

You know, just under three hundred thousand dollars on the year, but certainly days like today can wear on you. You know you don't love coming to the market and having it be as unproductive as it as it's been. But one of the things I mentioned earlier during our watchlist was the fact that for me, in terms of revenge trading and this wasn't a revenge trade by any means, I chased it a little bit and you know you would have gotten away with chasing it here and you would have gotten away with chasing it here. and just happens that where I took my trade it didn't get away with it.

This could have just as easily squeezed up to 850 and I would have made 2500 bucks on it so you know it could have gone either way. This one just went that way. But you know the thing is I don't I I don't really have a lot of revenge trading anymore because the stakes are have become a little lowered because I can pretty consistently perform really well in the first quarter of each year January February and usually March You know it puts me in the driver's seat for the rest of the year now because I'm in the driver's seat I don't feel that pressure that I need to have a really great week. a really great month.

I'm kind of like. you know if if I close the month of August red, it's not gonna kill me. And the the very frustrating thing about trading is that you're not gonna get to that place of letting go and detaching from your daily P&L until you've achieved some level of success. But that is the mindset that you need in order to achieve success.

So how do you get that to that place mentally before you're actually there? financially, you know and that's I Mean that's the that's the real struggle I would say for me, you know I obviously was at a point in my lifestyle with cost of Living where I tried to bring the cost of living down as low as possible so that I could make it by with as little as five hundred dollars a week. So you know then when I got to the point yeah, and I'm not live-streaming on Facebook right now. But so then when I got to the point where you know I was consistently making 500 a week or a thousand a week that was covering my my cost of living I mean it was actually putting me in a good position. You know that that was a choice I was willing to make and I bet a lot of you guys would willingly make that decision to take a pay cut in exchange for a better quality of life.

one where you don't have to go into a nine-to-five every day, an answer to a boss that you don't like and to try to help them become very successful. You know, you know. And so I get that because that was that was what I did I said I'd rather make less money and move back up to Vermont than keep living this life of you know working ten hours a day in New York City You know, four. Just so I can afford $2,000 a month in rent and and leasing.

Or you know, paying for my car to be in a parking garage. And you know I mean it's like $24,000 a year just to cover housing. So you need to make thirty six thousand a year, whatever before taxes. Then you want to cover.

You want to get food in there? You want to get some doing fun stuff. You got to be making fifty sixty thousand a year right out of college. That's just not happening. you know? So anyways, so I was willing to say, you know what? I'm gonna just live a more simple life I'll take the pay cut and you know that means I'd have a period of time where I'm not gonna have all the newest and fanciest things.

I'm okay with that and so that's that's how I I live for a while and then the pressure was off and I just adopted this mindset of I am a successful trader. You know you adopt that mindset and you do what successful traders do. Which means you don't stress when you have a bad day. So I'm down nine twenty nine hundred bucks today.

You know this is not a great day, but I don't stress about it I just let it go and I have a detachment. you know the for me. I'll take money out of this account a couple times a year and then I'll have that money you know saved aside. so it's not like I'm taking money out at the end of each week.

and if I don't make twenty five hundred dollars this week, that means I'm not going to be able to. You know, Pay This bill. Or Pay That bill. You know that's what starts to get you into that really short-term mindset of need to do this each week.

And that's not realistic. You're gonna have months the market where and we looked at this in our mentor session for Warrior Pro Students last night. we're in three months of in 2016. June July August I made about ninety six thousand dollars and I finished that year with two hundred and twenty grand.

So I made forty percent of my profits in three months. You know? I mean in 2017 going into 2018 I had an $80,000 month in eighty five thousand dollar month and then eight hundred and fifteen thousand dollar month three months back-to-back J it was November December January So in three months I made what was that? one hundred and sixty 275 280 thousand dollars in three months. So when the market is hot I am going to be pedal to the metal and I'm gonna be aggressive and you're gonna see three, four, or five thousand dollar days back to back to back when the market is cold. I need to be more conservative I Really wish that I hadn't jumped into this way up here I should have restrained myself and just said you missed it, You missed you.

didn't take it at 25, you didn't take the break of the high a day, you didn't buy this first pullback. you're just getting in too high and just leave it alone. But but I thought there was a little more meat on this one and it could go just a little further. And so you know today that wasn't the right move.

And in a hot market, it might have gone further, you know for sure. But we're not market right now so you can't trade the hot market strategy in a cold market. So anyways, hide a volume on a red candle. Big rejection.

false breakout here. False breakout here. Both of them got me. I Know that's what happens when you trade an 80 million share float stock you get.

You get faked out and it got me. So that's fine. You know. move to trade another day.

Never let one trade have the power to make or break your career. So if you miss a day, you miss a day. If you have a bad day, you have a bad day. But you get back on the horse, you roll with the punches and that's this is I'm gonna teach you and ultimately those are lessons that we're going to serve you really well in life.

When you know you get knocked down a few times you your car breaks down and then you, you know just one thing after another. I don't know I remember when I was living up in Vermont it would. That's type of stuff where I was right on the edge of that poverty line and you know then my dog gets sick and that's $1,000 vet bill and then the car. the axle breaks on the car and you know I've $150 to buy a new axle and you know it's the car is out of commission for.

you know it's just like you're doing the best you can to stay ahead. and then you can knock down. You get knocked down, you can knock down and we gonna do. You're just gonna sit and wallow and be you know, depressed and and deflated.

I mean it's okay to be that way for a little while, but then you got to pull yourself together, get back up and you know, and get back to doing what you're doing and trying to make the dream a reality. And it can happen. And it happened for me. it didn't happen overnight, but you know it happened so it was all worth it.

But anyway, so that's where I'm at today. Um, you know I'm disappointed because this is one two, three, four, five days into the month and I haven't had a single good green trait I mean this is you know, unprecedented, but at the same time not shocking for August Well I got a green trade. Tomorrow time will tell. We'll see.

I'll be here 9:00 9:00 A.m. 9:15 to do the watch list and I'll try to find something. so keep showing up. Keep trying to find something and it'll connect at some point.

So anyways, I'll see you guys first thing tomorrow morning. 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. Remember when you subscribe, you become a member of the Warrior Trading Family.