What's going on everyone, i'm so excited waking up today, seeing so many gappers on scan. We have bbig ater, we have the sprt, the amc, just a tons of different names and i'm so glad that there's more volume and momentum coming back into the market. So i'm definitely expecting a really hot september. So, let's start with bbig.

First, this one, i traded this on the short side. This is a afternoon runner on friday, in which a stock rang up from five dollars. All the way to you know pre-market today, ten fifties, essentially it doubled over the course of the weekend. But if you look at this daily chart on bbig this long wig around beginning of this year, you can see the highs on this day.

High volume traded that 200 million shares traded, the top was around 940s and above that you have also like pre-market highs around 10s and 1050s. So that's going to be key for me to see whether the stock is going to be continuing the gap up to the upside and above 10s, it could go to 12 or 13 or if it rejects the highs around the 950s and 10, then you get some Retracement to the downside, but i was looking to see how it reacts around this level at the open. I did show the stock around 950's starter thinking that we might get some chop and grind back to test the tens um. I did cover most of it here.

I want to see if it does bounce back which it did um. It touched ten dollars, but it didn't get filled that ten dollars wick happened, really fast um. I don't know if anything really printed around there, but that ten dollars um. I doubt anyone got filled.

It happened so quickly and then slam right back down after seeing that ten dollars rejected twice. Essentially, this is a double top right. Keep in mind of the daily charts. You have the daily resistance up here in the 940s, and that's why i was thinking okay.

This might start to unwind, especially when it topped out so early on by this is like not what 9 40 950s after it topped out. That's why i went. In short, i covered some first of all, because i didn't have the best average cover time. I waited to see if it's gon na really test the tents again to add back in and once it failed, this 950 940s area.

That's why i got in shorts and i was more patient this time around. Essentially, i was waiting for the confirmation to short into it short of this. This little wig i didn't get stopped out. I wasn't scared because i saw the previous high set in and then this thing just flushed um.

This thing i was actually halted to the downside from nine dollars uh when it sold off to like 790s. I hold it and i showed the bouncing to it 840s and cover into the low 780s, and i was out most of my shares by 720s. This thing took a while when you're buying or shorting these momentum stocks um. You can't just expect to have one entry, one exit you could, if you're just scalping for the smaller move, which is fine, nothing wrong with that, but for a stock that has gapped up like we said, doubled um overnight, i'm looking for a bit more.

So my best cover was down here 720s and i covered the rest of it. Here i tried to re-short here around eight thinking we might re-flush down to the move which it did, but i didn't have the patience to hold it uh i covered the reshorts here. I added some more thinking that we might get the at least a test of um and six eighties, but i didn't like the fact that i was kind of holding up setting higher low. So that's why i got out all of it and you can see after i got out that 750s, the stock tanked uh a dollar.

More so would i could. I should have um you could always make more. But overall i think it's a decent trade, because i was really patient instead of trying to pick the top, whether it's at 10 or 10, 20 or 9, and let it set in lower highs and have clear risk reward to go. In short, with a good stop out level, so it was really worth it and locate was kind of expensive on this, but with a range it gave, it was really good on the downside.

So this thing, i think, still has more room to fade. Uh could potentially go to six or even back to where it came from on friday, which is five thirties near the end of the day, either today or tomorrow, but for now i'm all done with the stock. Now the next stock i traded is amc on the long side. You guys know i'm always better at trading amc on the long side, but amc today, as we discussed last week, i thought that was just the first move on the daily chart.

When we had a big squeeze, i did try to see if we're gon na get more follow through the secondary days and then also on friday. On friday, i also long a stock, but that ended up just being a break-even trade. It didn't really break out, but technically speaking, if you look at a daily chart that candle, even though the breakout wasn't as strong, it was still a green day on friday. So today i want to see if it can break out through friday's highs.

Essentially, friday's heists were around the 41 60s and also, if you look at daily chart, there's a level around 42 42 right here. You can see that was rejected once here back in the middle of july, and that's also the areas of support zone from ju earlier. In june and earlier in july, so that's the reason. That's an important level to look at for amc today, and that 42 level is also the pre-market highs right right here.

You can see pre-market today it had a small gap from 40 80 to 42 dollars. It did pull back rejecting that 42 dollars level first and that's why i got in long. I was buying the dips around 4150s and then later on 41 40s. After seeing that it's holding the lows correct, i got in long so some small and got in back in on the v1 reclaim right here.

Added on the long side wants to reclaim v-wap seeing the volume coming in right. I always look at volume and i use view up. These two are the only indicators i use when i am trading uh doing day trading anyways these two only indicators, everything else i just find them lacking just a lot of lag in all the other indicators. So that's why i don't like using too much indicators, um and with just v up and volume.

I get to read the price action, a lot closer. So that's my preference not saying you can't use indicators, you do whatever you want, but for me i prefer to just use the candlesticks volume and also viwa. So that's the reason i got along near here. 41.

50S added on the vywa reclaim added on this little dip here, 42, 30s and at that point i'm at full size. So it's important to make sure that it's going to hold up this 42 dollars area. Yes, it did sell off a little bit but 4180s. That's not terrible right, and only if it does break down v1 break down 42 and hold beneath it, then i have to stop out for a loss, but it actually held up.

So if you look at it use a two minute or the five minute candle, the stock didn't hold below forty two dollars uh. That was fine. That's all i held sold some into the 43s and then out all of it around 43, 60s and 44. So nice little long from uh, 41, 80s average after all the ad so sold into the 44s, and i did try to go back in smaller size this time around 43 60s um added some more here here, even here after i see that it's reclaiming the 40, The the highs you can see a lot of times with amc is after setting a high, sometimes they test v-watt, but the fact that just keep on these um holding these higher lows means it's still strong.

So that's the reason i got back in on amc on the long side, even though with smaller size was still decent. When i sold some into the 44s, some more trim more positions, so i only have small size left and i got back in sorry. I sold it into the 44 70 saying that it's rejecting 45. So that's why i started giving back some profits on amc here here, seeing that it's not really bouncing, and then i just got stopped out here.

So this trade was a loss. I got backing again around 43 80s and then later on, around 43 40s. I also um stop up for break almost break basically break even on this trade, and the stock just ended up going back higher higher to test 45 dollars. But overall i did give back some on the long side, the re-entries, but my initial long was the one on full size.

So i'm really happy about this trade, even though i didn't quite get the top at 45 dollars, but i still caught the meat of the move. Now i cannot just mention the winners and never talk about the losers. My loser on the day is the stock mmat and it's actually not a good trade because it was a winner and i could have sold. I should have sold and i didn't - and i kind of let it go for a little bit too long.

So when you turn a winner into a loser, that's a bad trade. In my opinion, mnat, the plan was to let it reclaim the key level around five five tens which it did after the morning breakout you can see when it broke out at five. All the way to 580s had a huge pullback, so i wasn't watching it at that point. But after seeing that it's reclaiming the highs, you can see a pullback.

All the way to a low of five dollars went back up to v1, pull back again to five 10. This area is what we consider higher lows right, so it broke the intraday downtrend it's holding the highs. So that's why i got in long and right here. 5, 30s thinking that we're going to do a v1 reclaim and push to test, potentially the highs of the day and potentially even higher on the daily.

But with this kind of setup that i play, i will buy the higher lows 530s and add on higher highs. Sure, but it's always important to sell into the breakout move, especially when it's these um small cap stocks, it's up with no news, so my mistake here is not selling at this partial position into the breakout um. I think i got a little bit greedy. Yes, i did get a little bit greedy.

I was looking for potentially 570s or 580s, but it just didn't happen. You can see after that, 560 is rejected. It's it held like a lower high, but at that point i should have at least taken some profit or just get out and reassess my trade again for later for at least a smaller profit. But i just kind of let it go on for a little bit too long, but when it comes to small caps, when your thesis is no longer working in your favor, you have to stop out.

Otherwise. Imagine if i was holding my position from 540s average. All the way down to now 440s that would not be fun. This would be what we call bagholding and again we're not holding the lvs or the gucci we're holding the the broken stocks like forever, 21 and h m all right, it's time for our q and a's.

The first question is, from net benny, mind to share your approach on setting stop loss. So my approach not saying this is the right way or you should do this, but for me what i personally do is my way of setting stop. Loss is always different for each setup. Your stop loss should be the area in which the your setup no longer makes sense.

So, for example, on my trade, that's a loser on mmat on the long side, if my whole thesis is too long, these lower highs. Sorry higher lows below v-wap um, i got i did get in 530 and i even added here 540s. Then this thing should keep up the uptrend and especially has to hold that view up area. That's why i use as an overall over under and see whether the stock is holding up strength or not um and and after seeing that it's not holding you up right.

You can see yeah sure it held here and here, but after you try to bounce and gets rejected. So that means my thesis is no longer valid right. It's not holding v-wap. So that's why i stopped here at 5, 28..

Of course everyone set their stops differently. Some people don't even use stops, but for me the way i do it is i set it at the areas in which my setup, when my strategy is no longer valid, and if you are thinking to yourself right now after hearing what just said well, what exactly Is my setup and what is my strategy then you should probably take a step back and kind of reevaluate. What exactly is a setup you're treating and you should know at which point is your setup no longer working, then that should be your stops. The second question is a fun one.

From i see flowers, do you have high blood pressure for doing this profession? The answer is no, but i really don't sleep enough. If you have any more questions, feel free to leave them in the comment section below i'll. Do my best to answer them unless i've already made videos about them in the past, i'm really excited that momentum is coming back to the market, we're seeing more gappers for both the small caps and the large caps. So, let's see what the rest of the week brings.

Thank you guys for watching and i'll see you guys next time. Hey guys thanks for watching. I hope you enjoyed the video and the bad jokes. If you want to see more day, trading content make sure to subscribe and follow me on twitter and instagram for more.

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