What's up guys? Alright, so we're going to do our Friday recap and this is also going to be episode two of Behind The Trades And today we're going to be talking about the fear of missing out and this is something that was really impacting me this week. I was really dealing with this on several days, both the fear of missing out on particular trades and then the frustration of having some myths having missed some really good opportunities. Alright, so I'm going to start by giving you a recap of the week and we'll start I suppose with the recap of today, the last day of the week. So I'm finishing today with four thousand, Eight hundred, Fifty Eight dollars, and Ninety Seven cents.

Which means I'm now breaking over 40 thousand dollars in my small account. This is the account that I started on January 1st just about a month ago with 583 dollars. That's pretty crazy. I'm up over seventy-five thousand dollars this year and forty thousand of that is in my small account.

So let's dive in here and talk about the agenda for today. Episode two. So we're going to go over the weekly stats. We're going to talk about the best trade of the week.

We're going to talk about the worst trade of the week and you're going to find out that just like last week, my best trade of my worst trade were on the same stock last week was FF HL This week is our GSC and then we're going to talk about today's topic, which is the fear of missing out and some of the psychological battles that we all have as traders. And then we're going to have a segment called ask the Warrior where you can ask me questions that you have. You can talk about the trades you took this week, what went right, what went wrong, etc. Now I'm excited to announce that on Monday we had our our free chat day and we had over 2,000 370 traders joining the chatroom between the main chatroom and our free chatroom.

It was the biggest free chat day that we've ever had and it was fantastic. You can see this is a login map of where traders were logging in, logging in from all around the world Hawaii Alaska South America Africa Lots of traders in Europe Lots Raiders On the East Coast Lots of traders in China and you know Asia Asian countries and of course some traders in Australia and New Zealand as well. Now on Monday this coming Monday we're going to host a follow up free chat Monday for anyone that missed the the free chat day on Monday of this week. Alright guys, so mark your calendars who'd be able to log into the chat room by 9 a.m.

on Monday morning? All right Now let's talk about the weekly stats. So the total weekly gains in my small account $26,000 Crazy, Just crazy. Twenty six thousand, three hundred, Thirty Seven dollars, and Ninety cents really blew it out of the water. Last week, my total weekly gains were right around Five thousand Five hundred.

So I really took a big leap forward last week. I Ended the week with fourteen thousand, five hundred and eighty seven dollars in my account this week. I'm ending with 40 thousand, eight hundred and Sixty one dollars. My account that means I'm up seven thousand and eight percent this year for 2017 versus my starting balance, which is, you know, obviously pretty ridiculous.

but I had to be really aggressive to get there. And you know I'll talk about the trades I had this week. This was a wild week. This was the craziest week I've ever had.

the trader I made sixteen thousand on Monday I lost thirteen thousand on Tuesday and made six thousand on Wednesday twenty-two thousand on Thursday and today I was up eleven thousand. and then I lost seven thousand and now I'm up a little back and I'm up forty eight hundred. So some real extremes, right? Real whipsaws And you know it's the result of being really aggressive. I've wanted to grow this account as quickly as I could and I've had to take more risks than I might ordinarily take and that's resulted in these whipsaws.

So accuracy this week. Ninety one point, six, seven percent, twelve trades, and eleven winners. Now, unfortunately, the one loss I had was over five thousand dollars and it was a 75 cent loss on 7,500 shares. So my profit loss ratio week is 0.462 1, which is a negative profit loss ratio.

it's not one to one. which means based on that profit loss ratio, when you risk, you know, let's say your risk $2 to make a dollar, you need to be right 66% of the time just to break. Even so you know, with these types of statistics I really need to have very high accuracy and I had that this week. but ultimately I need to learn you know from the lesson and that loss this week and not allowed that to happen again.

All right. So that's kind of the the big picture breakdown. I Did this week trade and both my small account and my big account and as a result, my total profits on the week are $37,000 which is the best week that I've ever had. So and last week was a fantastic week as well.

So you know we're just seeing some really awesome opportunities in the market and that's all it is. We're just seeing really great opportunities and I'm in a position where I'm able to capitalize on them and be aggressive. Now, Part of the reason I made so much money yesterday was because of the fact that I had taken a big loss earlier in the week and I was getting aggressive. I was compensating for that loss by being more aggressive and taking more risk and that can be really dangerous so we're going to talk about that in a moment.

When we talk about the fear of missing out. So let's first talk about the best trade of the week. The highlight of the week: our GSE 7500 and $46 This was the one that really just got me going I mean this was Monday morning I made 7500 in this account I made it was 8500 in my other account which gave me sixteen thousand dollars in total profits. So this was a huge day.

Now the entry was really pretty simple: I got in this at 450 with 6,200 shares and it was based on a break of the half dollar. Now why did I get into our GSE I got into our GSE because it was a former runner. It was a stock that has a history of making big moves and last year we had a day where it went from $2 to $8 So no one is the type of stock that can make really big moves. I was especially aggressive on it I was as soon as I saw it I was like I need to jump in this and I'm gonna ride this momentum as long as I can I Got in at 450 and it spiked up to just under $6 per share which is a really obviously a really good move now.

I sold partial at 550 and then we dip down just for a second. You can see here on the chart we had this green candle we dip down and then we popped back up and as we broke this level here over 556 dollars for five fifty five sixty that's and I added back added back 4,000 shares and we got that spike. Now that spike was not sustained, it squeezed up and then it rolled over. but it was enough for me to be able to book a profit on it.

Alright so that was the best trade. This was a stock that was in play the day before. Now when you look at the daily chart here, this was the day before this doji candle and so when I was looking at this day here this was Monday I was like okay this is the first day that it's going to make a new high and that's a pretty big deal. It's a reversal on the daily chart.

The last time we had a reversal on the daily chart is when we went from $2 to $8 per share. That was I think in the fall. So I was like okay, the history might repeat itself. it's a former runner, it's making the first day to make a new high.

We've got potential. and when I saw it here out of the gate squeezed from 378 up to 4 and of course it hits the highe day scanners 4:35 I was like yep, this is it I got to jump in I see the symbol and right away I recognized it and that's kind of my process when I see a stock hitting the hide a scanner. The scanners are color coded so yellow is massive volume and low flow. These are typically stocks that if they have a lot of volume and there's a good reason for it.

they can make huge moves and I'll show you some other examples of that later on. but as soon as I saw this, I was like ok RG SC I'm familiar with the stock. it's a former runner history of making a big move. I'm going to jump in I'm going to get aggressive on it I jumped in for 50 60, 200 shares rode the momentum up seven thousand, five hundred and forty six dollars.

Now time our GSC made this kind of big move. It did something interesting. it had a big move. and then day two was the day it exploded and that's what I was kind of thinking might happen on Day 2.

Day 2 is right here where it ended up being read the entire day. Well, my worst trait of the week was also our GSC I'm going to move my iPhone here just for one second. So my worst trait of the week are Gse, right? Same stock that I had such a great win on on Monday I jumped back in on Tuesday and I really got destroyed on it. It was a horrible trade between my small account of my big account I lost 13 thousand dollars so this was obviously something that we talked about quite a bit in the chat room.

So what went wrong here? Well, I got in this basically I was chasing the proper entry. The proper entry on this was at $6 and you can see right here: $6 the you know the first five minute candles to make a new high right in this area. that was the proper entry with a stop at 590 and I prepared my order to get in at $6 I press the Buy button to buy six six thousand shares I go six thousand room 7,500 and I only filled 200 shares of the order. Two hundred shares is extremely frustrating because it immediately popped up to 650 and I knew if I had that full order of 7,500 shares, I'd be up three grand.

Unfortunately, I only had 200 shares so I was only up a hundred bucks. But I thought okay, last time this stock made that follow-through move it ran. you know from $2 to $8 and today is the same pattern on the daily chart. So I think that that's what's going to happen.

So I said you know what, Forget it, that's fine. I'll just buy this at 650. So I bought 7,500 shares at 650 for the half dollar break. kind of similar to what I did the day before buying it.

the half dollar. well in this case we didn't get follow through, it immediately dropped down to 630 and then it dropped down to 6 dollars and the stopped out at 575 and I lost 25% of my account in just one trade and that right there exemplifies. you know the risk when you trade with large-sized and when you use margin that you can have these really big draw downs that really screw up. you know your your account and that's that's basically what happened.

You know I had this really big drawdown and it was. It was very frustrating. I was really. you know that whole day I was kind of moping around because losing $13,000 in a single day having just had you know the best day is such a long time.

making 16,000 on Monday and then to lose 13,000 I felt like I just was so upset with myself and I've gone from my account going from like 14,000 up to 22,000 and now we were going to drop back down to like 16,000 and it just felt like obviously a big a big step back and it was. you know, fairly demoralizing. Now on this trade, on our GSE I Know that I made a mistake and the mistake was that I chased the proper entry. It was extended at 6:50 and I got in there and it rolled over.

Now this is a stock that you know was already fairly extended because of the previous move the day before. Yes, it was on the Gap scanner had some volume, but my entry at 6:50 was 50 cents - hi with my entry at 6:00 stopping out at 575 made sense. but when you're in at 650, 575 is now that much further away. So I chased it and that was the big.

The big mistake there now. just today we saw this stock my OS and it ran from three dollars all the way up to five a two point run and on this one I said guys I need to wait for a five-minute setup I can't chase it I can't I need to get that clean size in it setup and you know what? We never got it, it never happened, it just went parabolic and although even right now it's sort of consolidating, giving us a 5-minute setup. The problem is this stock went from zero you know to up 80% in 30 minutes. and when they go that extreme that quickly, they don't usually give you a nice clean, gradual pullback.

They go up and then to come back down and unfortunately on this one I missed my opportunity. Now the interesting thing here with my OS is that I could have gotten away with chasing it if I had chased this stock. I would have done okay right? So sometimes you will get away with chasing another time you will get stopped out and you know you'll lose money like what happened on our GSE So how do you know when you should chase and when you shouldn't chase? Well for me I Obviously need to be a little bit more mindful about my share size when I decide that I'm going to chase a stock if I'm making the conscientious decision that this is extended, but I'm going to buy it anyways. I should be reducing my share size.

That's number one, number two stocks that are more likely to give us a big breakout on a one-minute setup or that are worth chasing our stocks that have a really strong daily chart. My OS has a very strong daily chart today, much stronger than our GSE so that's in its favor. And number two: It's just right now starting to squeeze. It hasn't been moving all day long, it hasn't been.

you know it hasn't It's not well into the run, it's at the very beginning of the squeeze and traders are just starting to see it and just starting really to jump into the trade. so we're still very much. it's still very fresh. Momentum Stock: where's our? GSC on the second day was a bit more played out and I think traders had already.

You know, kind of had their fun with it and we're either short, biased or just no longer interested because we simply didn't see the follow-through that I was expecting. Now the interesting thing this week, and of course on my biggest day where I made $22,000 I traded for stocks that day and three out of the four ran 50 to 100% and the fourth one ran maybe if 40% and then it rolled over completely and you never really know which of these stocks hitting the scanners are going to make that huge move, which one is going to go from to $5 and which one's going to go to 3:05 and then drop all the way back down to 250. So with that in mind, you always have to set your stops, you have set tight stops and know your max loss on every trade, and you don't want to allow a single trade potentially to blow up your account. And although losing 25% was not blowing up my account, it certainly was a very big drawdown.

and I wasn't not something that I was planning on or that I was happy that I had to experience. All right guys! So the topic of today and this is very topical to my trades this week is the fear of missing out. Obviously it's been a really wild week for me and this week with the huge wins now the huge win on Monday wasn't result of fear of missing out. that was just I got aggressive I was in the right place at the right time, the strategy worked and it paid off big-time now.

I've been trading with larger share size this year and I've also been trading with larger share size because I've been trading into accounts. So in some what some of these positions I've almost been doubling my risk because I have 10,000 shares here and 10,000 there. So when it works, it works well. Obviously when it doesn't work, you lose $13,000 But on Monday everything connected and I was able to capitalize.

But my best day of the year was quickly followed by my worst day of the year losing 13,000 And that type of loss can really start to trigger these emotions. So the fear of missing out. It's a phrase that really embodies both the fear and the greed, which are the two emotions that drive the stock market All right. The fear of missing a big winner combined with the greed and the jealousy of knowing that others are hitting that trade and that you should be getting a piece of it too.

So it's you know that that fear of missing out it can really manifest in a number of different ways. And this week it hit me really badly on RT Se, you know, as you guys already known as I've already mentioned, but at the same time, that emotion carried me through the week and led to my biggest day and has led to me making $37,000 this week. So it's to say that this emotion is not necessarily a bad thing, it's just one you have to be able to come to terms with and really understand and have a sense of awareness for All Right now, if you're in greed, specifically the fear of missing out, these are emotional responses to a trigger. and that trigger can be any one of the following: Number one: You see a stock suddenly make a big move and you completely miss it.

Maybe you weren't trading that day. Maybe you were. You know, you weren't even watching that stock. But for whatever reason, a stock has made a huge move and you missed it.

Trigger Number two: you're watching a stock you tried to get in, but your order didn't filled and what should have been a huge trade ended up being nothing at all. Or number three, you see somebody on Facebook Twitter or even in our chat room bragging about big profits and you feel like you missed that opportunity. You know you missed the trade and now you're on the wrong side or your breakeven or you're you're at a loss. Or number four, you're in the chat room.

Let's say, you're in our chat room or any chat room and you hear me take a trade. But because you weren't prepared for an entry, you end up missing that opportunity completely. And then you feel frustrated and you've got that fear of missing out that you just missed out on something. So these are a few of the triggers you know that I've experienced over the years as a trader.

So how do you respond to those triggers? How do you respond to a trigger in general? Now, the common reaction When you feel like you have a fear of missing a trade, The common reaction is simply to do everything you can to alleviate that fear. And how do you alleviate that kind of fear? You press the Buy button. You get in. You no longer have the fear of missing out once you press the Buy button.

And once you're in the trade, right, or what might happen is the next stock that shows even the slightest bit of potential. You jump into it and we barely without even thinking. you just jump right in and try to capitalize on that opportunity. All right.

So here's the problem. when you do that. you really aren't thinking about risk when you take that trait. When you start impulsively jumping into the next trade, you're not thinking about risk.

All you're thinking about is profit, profit potential. And it's the greed. Now that's kind of what happened to me. I Know this.

You know this is what happened to me on Tuesday when I want to buy our GSC at 6:50 you know I was in that same kind of fearful state of having just missed a big trade, feeling frustrated that I didn't get filled and I said to myself, this thing's going to go straight to seven, maybe eight So you know what, why not just jump in I don't want to miss it and so I jumped in 7,500 shares at 650 and I was instantly down 25 cents on 7,500 shares and I was looking at a fifteen hundred dollar loss and at that point that's when you know the fear kind of kicked in instead of selling when I was down, you know, selling when I was down 25 cents. I was feeling afraid I was feeling afraid of taking my first big loss in the small account I was afraid of. You know what people might say about me, what people in the chat room would think you know if I would be able to bounce back quickly and I really wanted to not make that loss real and so to not make that loss real, the easiest thing to do was to keep holding it and that fear com patent itself I kept holding instead of selling I held the next thing I know I'm down 50 cents and of course the fear intensified because now I know I'm really making a big mistake and the embarrassment is going to be even worse when I have to explain why I held the stock down. you know, 50 cents And at that point I realized that I needed to try to minimize the loss as much as I could and so I decided well I need to get out of this stock I am going to take a loss, but I'm going to try to wait for the first candle to make a new high and unfortunately we broke below $6 dropped immediately down to 575 and I said I got to sell this I overcame my fear and I made the loss I said you know what, just take the loss.

it's not that bad. you'll bounce back from it and you know I knew that I couldn't allow the stock to blow up my account so I pressed the cell button and lost fifty five hundred dollars. Now the stock ended up dropping two more points from 550, down to 450 and down to 350 if I had held it stubbornly just held and held and held I could have lost over twenty thousand dollars and I could have totally erased my entire account. Everything I've made from January 1st until then I could have given back now.

everything that I just talked about occurred in the period of about two minutes I got in right out of the gates as soon as the market opened. It popped in that one minute Campbell from six dollars to 650 I got in at 650 and in the next one minute Campbell it dropped down to 625 to $6 of 575 and then to 550 and then down to four the four 80s. it dropped very very quickly. So you can see how as an active trader as a day trader, we have a very, really a very short period of time to make quick decisions.

and these decisions can be extremely. You know, important and whether or not we make 10,000 or we lose 10,000 I'm glad that I was able to overcome that fear, but that fear allowed me to hold a stock a little too long. The fear of missing out is what got me into the trade. The fear of missing out is also sort of a we call it the fear of missing out, but it's really driven by by greed.

but the fear of missing out what caused me to chase the trade and then the fear of making a loss real by pressing the sell button encouraged me to hold it a bit longer. The fear of loss right as Dave says in the chat room. I after I had the fear of missing out I had a fear of loss I didn't want to take the loss and want to make the loss real and so I held way too long now. I Always talk about breakout or bailout If you get into a trade and it doesn't work immediately bail out and I certainly had the opportunity to sell when I was down only 20 cents, but with 7,500 shares, that would have been a pretty big loss and I was afraid of taking that all right.

So you know you could see how quickly all these thoughts had to run through my mind in a period of you know, 120 seconds. I Had to make a decision and that decision potentially could have ruined my account if I decided to keep holding it or you know, minimized the loss. So I ended the morning down seventy five hundred dollars or fifty five hundred dollars in my small account seventy five and my big account down thirteen thousand on the on the day and I felt embarrassed I felt frustrated I felt defeated obviously I'm doing this all in a very public way and I I knew that that would be something I would be challenged by during this small account challenge that I'm not doing this, you know to just challenge myself I'm doing this to show you guys that is possible and that means when I have good days I've got lots of people celebrating with me. but when I have bad days I have people saying that you know why'd you do this.

why'd you do that? even though my good days I had people you know criticizing me as well you know I Had someone say yesterday that if you took if I took away the Trade Ideas scanner I'd be nothing and you know I was like well I mean I guess the Trade Ideas scanner is a pretty important tool so I'd have to go back to basics. You know if you took a chainsaw away from a lumberjack, he it kind of be nothing I mean he could use the old fashioned method of you know, using a Saab you know both or whatever it is, but you know you're always always going to be haters. especially when you do something like this. was very public so and in any case I've seen many, many traders run into the struggle of Revenge Trading and on Tuesday after I took that big loss I did not continue to trade I said that's it I just totally blew up my max loss.

My max loss is only supposed to only be a thousand dollars and I just blew way past it I'm done for the day I'm not going to keep trading. There's no way I'm going to recover this in one day I just got to throw in the towel and that's what I did now when I did my video about being in Las Vegas on the racetrack. One of the things that I mentioned is the fact that when you're driving a racecar, if you crash that car, if you're going way too fast and you screw up and you crash that car, the cars damaged and you know needs to go into the shop for repairs and during that time when it's being repaired you have the opportunity and really it is an opportunity to reflect on what went wrong. Traders don't have that same that same opportunity really because as soon as you take a loss you can jump right back in and keep trading.

and I could have kept trading all the way to 4:00 p.m. And you know what? I've done that in the past that's called revenge trading when you're trying to get back what you lost. So I fought the desire to do that on Tuesday and I said I just got to walk away I'm done for the day I made 16,000 on Monday loss of 13,000 today I'm still up 3,000 on the week. Let's just be happy with that and take a break.

So the thing is on Wednesday morning as I was sitting down by my computer I couldn't help but think I would like to make back everything I lost yesterday. Sure, who wouldn't right? I'd like to make $13,000 today I'd like to get my account up to $25,000 my small account and I had I just felt so frustrated because I was really celebrating and really excited on Monday And then that was followed by being really bummed out on Tuesday So on Wednesday I wanted to make it back but at the same time I knew that I couldn't force trades and in the past when I've had that desire to get back up on the horse and just you know, really get back in the game I have done some stupid things like just any time I see a stock spiking up by 15,000 shares I only need 30 cents was 4500 bucks. Do that three times I'm back and you can't do that. You know that.

Doing that is how you lose 30 cents four times in a row and you lose next for $12,000 because you're being emotional. You've thrown risk-management out the window. You're not focusing on good quality setups. You're trading impulsively right now.

What? I decide to do on Wednesday As I said okay Ross Look, here's the deal. Obviously, you want to try to make back the money. That's an emotion that you feel right now I Understand that? You know. of course this is me talking to myself of course.

I Understand what? what? I'm saying So yeah. I Understand what you're saying Ross That's you know you're dead-on You want to make your money back. We're going to make it happen. But don't forget, only trade a quality set ups.

you know, don't be aggressive on anything if it's not equality. If it's not equality, don't trade. And so that was my mentality coming into into Wednesday Morning, which was also the first of. February.

Now for those that don't know, I have a history of losing a lot of money at the beginning of the month and that that is also an emotional behavior because I want so badly not to have a losing month that I'm kind of desperately looking for a winning trade. and when you're looking desperately, you lower the quality standard of a trade that you're willing to take. And so in the past I've had this history of losing a lot of money to beginning of the month and I was very much aware of that when I was thinking about being aggressive on, you know Wednesday February 1st that. this is the beginning of the month.

this is really not looking good. What if you made 40,000 dollars last month and here on the first day of the month, you lose another 10 grand? You're going to start the month in the hole so don't do that. just start slow and steady. And so my approach on Monday was that if I saw a good set up, I would be aggressive and I saw I took three trades HM and why pul em and eat erm and I made.

let's see on Monday I are on Wednesday I made back about sixty sixty eight hundred dollars I was aggressive I took big share size but I only did it on equality setups. So what I was able to do was I was able to harness that emotion into a positive way, right? and that that's where the sense of mindfulness, the presence of mine really paid off. So I knew that taking two to three thousand shares would not get me back to where I was before I had the loss and that I would need to take six to ten thousand shares. But again, I knew that would lead to deeper drawdowns if I was wrong.

and that's why I needed to be so smart about what I was willing to trade. Now you know that. so I ended up having a little bit of a rebound day. I was like, you know, I made forty forty five hundred dollars in my small account.

Twenty-two hundred my big account. You know, not that six thousand dollars is a great day. But of course here's me saying oh, it's not bad I mean I have a suck great still red Burt versus yesterday. but you know, whatever I guess it's okay and so I'm still kind of moping around and then I come back on Thursday morning with the same kind of mentality that okay, you're back up to twenty thousand dollars.

You're only five thousand away from that first target of twenty five grand. You can do it. just one trade you're going to get back. get me back on the horse.

And if you think about my P&L let's see, Monday was a big step forward. Tuesday was a drawdown Monday was a little bit of a move back up. do you see the bull flag forming and then Thursday was the breakthrough. the high as I squeezed back up through high a day and now today was a little bit of continuation.

So on. Thursday and I Also want to preface this by saying that I have been struggling with the fear of missing out ever since I was away in November When Dr. Ys ran to $100 on that day, I was checking my phone while I was in meetings and I was getting more and more frustrated and upset. I was getting like just so aggravated that I was missing the biggest opportunity that I'd ever seen in the market.

I've never seen a stock go. you know from two dollars all the way up to a hundred? had never seen that before and of course I was out of the office that day and I wasn't able to trade it. so I kind of been carrying that frustration that baggage for a long time and anytime I see a stock starting to move up whether it's G lbs or its ET RM or Idx G or my OS hm n yr GSC I see it and I'm like I need to jump on this I cannot be the guy that misses another big move and so I've been jumping on these with more sighs. I've also realized that because my metrics are good because I have a good profit loss ratio and I have good accuracy.

The only difference between me making 20 thousand in a month and making 40,000 is share size. If I increase my share size, I'll make more money and that's why I made 40,000 last month and I've up thirty seven thousand dollars this week. So thirty-seven thousand dollars on the month of February so far and it's February 3rd now this now let's let's bring back to or come back to Thursday morning. So Thursday morning you know I recognized that on Wednesday I had kind of mismanaged my trade on PU L M because it ended up actually going parabolic.

It made a really big move and so I noticed that the market right now is extremely strong. We're seeing some really good opportunities. HMN y pu LM Let's see what was the other one. ET RM and so on Tuesday morning the first trade or Thursday morning the first trade I took was PU LM I jumped in seventy five hundred shares made ten cents, some seven hundred fifty bucks, 800 bucks I was like alright, that's good Again, a lot of people would be totally happy with that and I'm like, that's fine I'm you know, twenty percent of the way to the goal Five thousand dollars and so I look for the next trade and I see B NTC hitting the high a day scanner and I look at that and I say that stock as a former runner with a history of making big moves I look at it I jump in I get in six thousand shares at 255, it pops up to three dollars I'm up twenty seven hundred dollars.

I ended up making about a thick four thousand around four thousand five hundred dollars on that stock that day trading the first pullback and then the second pull back. So BNT see it popped up and it's surged and if I back out of this just for a second, I'll just back out of this webinar or this slide that I'm running here for you guys just to show you the B NTC chart because it was really a beautiful chart. This is the type of thing that we love to see as traders. The move from $2 up to $3 pullback from 3 up to 444 33 second pullback.

These circle areas the the safe opportunities to get in these types of names. I'll show you guys who are watching on screen share on Facebook Live super super clean and I realize okay clearly there is some strength in the market today. so we had B NTC and then we had a course pol M some good trades on that. This was today.

go back to yesterday. PU LM from four dollars to seven and we had Nak D which parabolic from a low yesterday of a dollar 20 up to a high today of over 450. totally parabolic and by scalping these opportunities, getting in booking the profit the first one minute pullback the first five-minute pullback yesterday or you know I yesterday Thursday I was able to have the biggest day I've ever had twenty-two thousand dollars in total profits. but I came into the day feeling a little bit emotional and and I was being a little bit aggressive right now.

This was again because I had just had this big loss. So the interesting thing is that I would not have made $22,000 yesterday I guarantee you I would have made that much money if I hadn't lost 13,000 on on Tuesday Losing that money on Tuesday is what you know is really what triggered that kind of emotional response to get more aggressive. The good news is that I have the educated intuition which is the result of years of trading to channel that emotion to harness that emotion to help me be a better trader. So a lot of traders will say that you should buy.

You know, But look, no one should really say this, but you should bottle up your emotions. You know you got to be like a machine and I try to be that way sometimes like just be a machine. Don't let this get you rattled. Don't get frustrated, don't get emotional, you know.

next thing I know I'm wallowing around all afternoon I lost there $2,000 I Was watching this this movie. it was like a Louie it's lexically the 14th on Netflix and they show this woman who's you know in labor or know she's got poison. She's the laying there on the bed, she's dying and I'm like she's having a better day than me. Look at the shoot I feel like I'm in the same boat.

hurry You know we're both just us is the worst and this is no fun and this is. This is a struggle with training but as much as you try to not allow it to get to you, you just can't help it. And on Tuesday of course you know when you have these extremes in the PL I Was just feeling really bummed out now of course you know yesterday I was like wow, that was yesterday I was almost like that's crazy I can't even I Never thought I'd have a day where I make $22,000 so I kind of was just like I don't think I was like celebrating I was just sort of like that was that was nuts and you know what a fantastic day and now here we are on Friday and I had said I would not trade on Friday I was like I'm not going to trade on Friday I'm just going to I'm gonna wire out all my money from Sure Trader and go put it into my speech: Raider account I'll start Monday on a clean slate called Speed Trader this morning. they said my account won't be ready Monday they've got to do some more paperwork so I was like oh well in that case I guess I might as well trade in short trader today but then I was starting to feel like maybe I junks myself I put on my lucky sweatshirt and I was like all right, we're gonna, we're going to do this.

We're going to trade this and I took two trades and I made 48 hundred bucks. So now I'm up forty over forty thousand dollars in the small account and today in my big account I made eight thousand dollars on D Sfn I took fifteen thousand shares and we made fifty cents and I was like that. that. was good I'm going to buy the first pullback I bought the first pullback with sixteen thousand shares and I was up four thousand dollars on it and it turned around to dropped and I ended up losing eight thousand lost everything I made so in my bag in my big account I'm up I'm actually down $86 and this is again me finishing the week with it's like it's almost like I win the race and after I cross the line I fall off my bike and like scrape my knees because it just it makes it impossible to enjoy the victory.

and this is this half. yesterday - I made $22,000 but my last trade of the day I lost 750. so I have this sort of I don't know what it is but I keep doing it. And the good news is that in the sense that it I think keeps me kind of grounded.

it reminds me at the very end of a good day that you can just quickly give back money as you make money this week. In total, I have lost. It's really pretty crazy, but I Vlad I've had over twenty thousand dollars in losses this week despite being up thirty seven thousand. I've had 20,000 in losses.

That means this would be a $57,000 week if I didn't have any losses. but again, that's not reality and I wouldn't have had the aggression. you know if I hadn't gotten knocked down exactly I wouldn't be so hungry to bounce back and I would have been probably content just to do 2,000 a day 3,000 a day, maybe 4,000 on a good day. I wouldn't have pushed it so hard and pushing it is with, you know, propelled me up to this level.

All right. So here's the thing. when you guys feel that sense of fear, You know the fear that you're missing out on the trade. You see that trigger.

You need to train yourself to have the presence of mind to have them to be mindful enough to realize that you're experiencing that emotion. And now the next first step is is is tracking that you're having this emotion I'm feeling and you can say it out loud. Seems silly, but I do it a lot. You know I'm feeling angry.

You know I get a flat tire I'm feeling angry right now. It's like I say the emotion but because I say it I now I'm having the presence of mind that I'm angry and there are times in my personal life where I'm I'm having a just not a good day and I'm like I'm feeling agitated so this person around me is maybe getting on my nerves. You know more than I should let it and let's just keep this perspective. I'm a little agitated I'm not going to take it out on them.

So interestingly, trading has made me more mindful of how I can act when I feel emotional. You know whether it's happy, sad, you know, frustrated, or whatever. So the fear of missing out is an emotional response. but it's not a bad one.

It's only a bad one if you allow it to overtake your rational mind and common sense. So for me, I was able to use the fear of Missing Out this week and I was able to use fear in a sense to drive me I was able to use it almost as the carrot in front of the the rabbit to really encourage me to push harder to dig deeper and then produce the best month or the best of the best week that I've ever had. And this, you know may end up being one of the best months I've ever had depending on how the rest of the month goes. If you can improve your sense of awareness and harness FOMO the fear of missing out, you can improve your trading so this no longer has to be a bad word, right? And that's that's the big thing that I want you to take away from this.

Over my years of trading, it took me a long time to make these kind of realizations and I hope that you guys are able to learn from what I'm saying and not have to learn by experiencing this. and I'm one of those people. This is something I was saying to a student yesterday I was on the phone. You know he was saying that I like to do things on my own and I said well, you know what, so do I that's that.

That's what most day traders are like. We want to do things on our own and this is the inherent conflict with trying to provide education for day traders. I'm trying to provide education to a group of people who desperately want to be independent I wanted to be independent I didn't want you know I didn't want a regular job I didn't want to keep doing that I wanted to be on my own and that same you know, just sort of personality trait is why I didn't seek out education when I started trading I was like no, I'm going to do this on my own I can figure it out right I want to be independent But here's the thing. I've gone through all of this, you know I went through all these struggles I can help you avoid some of the trial and error that I had to go through.

So II If you're in our chat room, you know you're part of the community. Maybe you're not in the classes yet. you haven't joined them just by being part of this community. You're surrounded by traders who are going through some of these same experiences.

You know, the fear of missing out emotional trading? Someone who says, well you know I bought my OS at the high a day you know, two weeks ago and I'm still holding it. You know we some of us have to learn by experience. We have to, you know, fall off the bike a couple of times before we really get it. But my hope is that by us talking about these things, it will at least help you process these.

You know these kind of experiences in your journey to becoming a traitor because these are things that we all struggle with and we'll all struggle with it one time or another. All right. So you know this is the thing. I Used to think that you have to not trade from a place of fear at all.

You have to just totally put that aside. But what I realized was that that's almost impossible. It's it's very, very difficult to not be emotional to not have emotions and so you know you look at any trader you know, traders on, you know, a hedge fund trading desk. They're not going to say that they don't have emotions, that they don't get angry, that they don't get frustrated.

It's not about not having emotions. It's not about not being afraid. It's about facing that fear. And it's real fear.

Facing that fear with the bravery to not give in to it all right, or to be even better, be able to channel it and harness it. So you're harnessing that emotion to help you be a better trader. and maybe even a better person. And this obviously has been a fantastic week.

I'm hoping that the month of February these first three days are a sign of a fantastic week to come and month to come. We'll see, you know. I I Really don't know, but the market has been exceptionally strong. We've got several stocks almost every single day going up over a hundred percent.

My OS is up 99 percent right now on 11 million shares of volume. so there are lots of opportunities every single day. and my job, you know, is to find those opportunities to point out what I consider to be some of the best entries and to trade my strategy. and that's what I've been doing and that's what I'll continue to do.

I'm thinking that this is going to be a pretty strong month. I Know that there's hot streaks and when we have those hot streaks, that's when you have to be aggressive. You have to capitalize. And this is a week where I'm making thirty seven thousand dollars.

If I have a week later in the month where I'm breakeven, it doesn't matter because this week is going to tide me over now just to step back a little bit. Last year I had I didn't start off nearly as well as I've started this year. I started with about eleven thousand in January and then lonely five thousand in February and seven thousand in March during February and March and into April. Last year, I was doing my small account challenge at Sure Trader and although at the time I was proud that I took $1,000 and turned it into $8,600 I Now look at that as being totally pathetic.

I Mean, look at me now: 500 to 40000 in 23 trading days. So I've really one up to myself and I don't think I'm even going to dare do this challenge again next year because I don't know that it would be even possible that I could top this return. But what I am going to do is keep trading. I'm now 40% of the way to $100,000 $100,000 to my first is well I guess was my next target.

Now 50,000 is going to be a nice milestone. so put a milestone at 50,000 another one at 75,000 and the last one at a hundred grand. That was my goal for all 2017 to turn five hundred and eighty three dollars into a hundred thousand dollars. I'm 40 percent of the way there on February 3rd so things are looking good, but I'm not going to put the carriage ahead of the horse.

you know I'll take it slow, be aggressive when the trading is good, step back, ease off the throttle when it starts to slow down, and make sure that I'm trading in a smart way. I Know that I got a little aggressive this week and I want to try to taper that back a little bit I think now that I've gotten such a big cushion on this account I can kind of, you know I some big swings on the way up, but now that I've really built myself up I can kind of just get into the grind and if I can grind on $4,000 a day I mean that is a million dollars in one year and I don't expect to be able to make that amount of money consistently I Know that there's going to be lots of slow days, but you know that is the potential that if you can really figure out the strategy, then all you have to do is size up and I know there's traders out there. I mean I see them on Twitter and you know stuff like that that are taking 30, 40, 50 thousand shares on a regular basis and having thirty thousand dollar days on a regular basis. So it can.

it can be done. It's just whether or not you're in an emotional place to handle that amount of risk and I'm not really there yet. Even my first trade yesterday I wasn't really risking much more than maybe $1,000 but you know we'll see where I'm at in six months. Just keep keep working along and you know, just keep making progress and always keep trying to be a better trader.

Alright guys, so now we're going to do just a few short minutes of asking questions. This has been a longer than expected behind the trades episode, but I'm glad that we really got into this topic because it's something that I have so many traders asking me about on really almost a daily basis. Alright, so any questions that you guys have from the week or from some of the trades now that I've taken here today, so let me back out of the slides and let's see I will jump into screen share. So my OS obviously you know I missed this Doing this recap.

It's very rare that I would take a trade at lunchtime. I Don't know that I would have taken it today, but you can see the first five-minute camel to make a new high was over 450. That candle popped to 470 and then drop down to 437. So if you got into a trade let's say 5,000 shares at 450 and it pops up to 470.

you know you're up 20 cents. 2,000 bucks. So to go from being up $1,000 down 750 because you would have to hold and drop back down and then goes up again be a little choppy. I Know it's not something that I would be super excited about.

so Andy I'm I'm a Momentum trader I mean I'm a day trader and the strategy that I trade is primarily a momentum day trading strategy. That means I'm looking for stocks that are moving and the way I find those stocks is by using these High Today scanners and then searching the stocks that are on those scams to see if they have news if there's a reason they're running. Interestingly, a lot of stocks make really big moves with no news whatsoever, so news is not always required if the stock does have high relative volume and it's starting to get some really good action. All right, let's see, the starting balance for my Speed Trader account will be exactly what's insurer Trader I'm going to take that money and I'm going to move it into my Speed Trader account.

So I think I'll be starting on Monday with what was it? forty thousand, eight hundred and sixty one dollars plus or minus units, commissions, and Ecn fees sometimes change that a little bit. but right around there is where I'll start on Monday So it depends what Speed Trader says. If I can fund my account on Monday then I won't trade in the small account on Monday that would be the month at the day that I wire the money out and I will wire out and then wire into Speed Trader and hopefully be able to trade Speed Trader on Tuesday. So Sarah the Commission structure at Speed Trader is much lower.

It's much better, and that's obviously preferable once you're above the twenty five thousand dollar minimum. But you know, until you're above that level, you got a trade at Sure Trader. which is why I started the challenge at Sure Trader. You know with five hundred and eighty three dollars that you don't have a lot of options of where you could trade.

So I started Sure Trader built up to 25k which was my first mark and then I said once I hit 25k I would move to Speed Trader now I didn't realize I would you know blow through 25k all the way up to thirty six thousand and then there'd be some delay in opening my account. So right now I'm just continued to trade there and add an extra forty eight hundred dollars today. but my Commission's today are two hundred fifty bucks. so you know those Commission's are? you know, a pretty pretty big piece of the profit and something that I would always have to deal with if I stayed with Share Trader.

So the minimum balance I'm not sure if it's 25,000 or 30,000 but definitely the minimum balance today trade is twenty five thousand. So alright guys. Well we started right around twelve noon and it's just about 1 p.m. so I'm going to ask if you guys have any other questions, leave comments in Facebook on Youtube.

this is going to go on Facebook YouTube and on our podcast and sounds like it's time for me to take the dog for a walk and go get some fresh air. So I'm going to take off and I will see you guys all first thing on Monday morning Alright guys I Hope everyone has a great weekend! Let's be honest, if you made it this far, you must have really enjoyed that video. So what's stopping You subscribe right here and get email alerts any time I upload new content. until then happy surfing!.