What's up everyone? All right? So in today's episode, I'm going to talk about missing a great trade I'm going to share with you some tips that hopefully will help you as you deal with this in your career because if you're a trainer, aspiring, intermediate or Advanced experienced Trader this happens. It will happen to you. It happens to me all the time. But I'm going to share with you a little bit of a fork in the road moment that I saw today and this could be the difference between being able to maintain a position of strength and momentum in your own Trading or fall victim to emotions and start to spiral.

So let me share this with you just today. For instance, I'll set the stage give you a little context. So for the last two, three weeks, the market has been garbage. There hasn't been a lot of good action.

it's been very, very slow. so now there's different ways you can trade through slow periods. I Made a conscientious choice to scale back my share size and to pretty much put myself on the sidelines. I was like said to myself: I said listen buddy, you look great I always look in the mirror when I'm talking to myself I Give myself a little pep talk, give myself a little column I say hey, you look great That beard today Phenomenal.

It's on point since we're here. Uh, let's get real for a second. The market sucks in the past. We all know you and you want to know that you tend to trade way too aggressively in a terrible Market.

You dig yourself a pretty big hole, let's try something different. This time the market was starting to get cold a couple weeks ago. I said you know what I'm going to step back I'm going to slow down instead of trading B quality see quality setups I'm just going to say trade the best and and literally leave the rest and as a result I didn't trade very much in the last two and a half weeks. but I also didn't dig myself a deep hole like I might have in fast or like I probably would have if I had traded pretty aggressively.

So the long and short of it is that coming into today I was feeling kind of like blah you know I was not really expecting to take very many trades I didn't really think I was going to see any a quality opportunities but what ended up happening was we had a stock that squeezed up a little bit consolidates right around view app and I sort of was like all right this is going to be another one that Fades you know I saw it pop up and I thought no this one's gonna fade. it's no no expectation for it in fact I think it's probably a short but as I'm watching it, it's not dropping. boy that thing's holding up. it's kind of weird and then I thought if this thing breaks this pivot the high of that little move I think it's gonna go and so as I see it starting to break I try to press the buy button and I'm a little too slow.

It goes up 25 cents a share without me. So now I'm like okay boy, this ah shoot All right. Well now do I really want to chase it I don't know maybe I should goes a little higher and it pulls back just for a second and right there I punched it on a micro pullback I said you know what, let's go I'm I'm buying it here. Granted I was buying it like 45 cents higher than my initial attempt, but you know, buy high sell High The setup was okay I jump in there.

it ends up going a little bit higher and I knew I had kind of chased it a bit. so I got out pretty quickly, booked the profit and then I didn't get back in. Now it ended up giving a couple of more pretty clean opportunities and I didn't trade them. I was like oh gosh, I don't know I I didn't make enough on my first trade to give myself a big cushion so you know I I just didn't feel like I could afford to lose it and I I saw a Trader say you know what guys I sold way too soon I'm getting a phone call.

um I'm kind of like frustrated here. I'm gonna call it a day. This is a traitor in the chat room. He's got a million dollar badge.

so I you know I I Pay attention to what he says and I'm thinking all right, you know this is someone that he knows what he's talking about. He's probably he I think he's got the right idea and and right in that moment I realized as I saw another stock pop up I saw someone else type in jumping in it. but that's traitor who missed this one opportunity today are playing the game of chasing everything that moves. They're trying to kind of overcompensate for the fact that they missed the first one and you know the first one ended up consolidating sideways.

You know we had this big move up from like eight dollars to 17 a share and then it pulls back and you know while it's pulling back, the Macd crosses over and it's kind of choppy and it does make a second attempt at the high and I was like no, you know I I didn't make as much as I should have on the front side of the move I'm not going to go back and trade it now and that was the right move because it did one of these pops and then flush halting down. So that's exactly right and that's the type of trade where even on that same stock I could have overcompensated out of frustration for not fully capitalizing on the first move. you know I kind of missed a couple of good trades I got one in there, maybe two, but it, you know it's just it is what it is and and so for me today I'm gonna give myself a pat on the back and say I am really glad that I was able to show some restraint and that I didn't jump back into it that I just said you know what? I got green on it Maybe I could have pushed it a little harder, but the fact is I sort of missed the first entry I got a little something out of it, but I didn't get such a big cushion that I could afford to start taking some risk I Really, you know I didn't. So the right move here is to take the gain off the table, to be grateful for it, and to come back tomorrow.

But this is what a lot of Traders will do and this is what I've seen other Traders do just time and time again. they missed that first trade. Now the stock is up 100 115 percent they buy. You know this kind of secondary pattern.

it's not as strong as the first, one, pops up a little bit and then it flushes and they're the person who's read on a stock that's up over 100 percent and not only has it been cold for the last two three weeks, Finally, we get something that moves and they managed to lose money on it. I Can relate to this because I have been in this exact same place before I know exactly what this feels like I have done that and I could have easily done it today. I You know I I restrained myself I pulled myself back from that temptation. but it could have easily happened today.

You know. Today I saw a couple other stocks pop up and I was like, all right, Feels like we're having a little bit of a sort of boost of, you know, momentum today. But I I just I kept saying you know you don't have enough of a cushion on the day I don't think to take the risk. You know this is an important psychology of trading and I'm going to talk about a little bit more in my class tomorrow.

So I'm going to teach a class on YouTube tomorrow at 11 A.M on scaling, scaling in and scaling out so you could bookmark that if you want. You might see it as a an upcoming video. But in any case, I'll be live at 11AM for that class. So the thing here is that as a beginner Trader beginner Trader You're typically going to want to focus on keeping it really simple with one entry.

one exit. Get in. Get green, get out. You don't want to overstay your welcome.

You don't want to push it right now. as a beginner, they're just trying to build some consistency. You know very well that most people who trade lose money. You know my results aren't typical, and you're just trying to get in the mindset of just capturing little slivers of profit.

Are you maximizing opportunity? No, absolutely not. Right now, that's okay. You're not efficient, but you're just trying to get green each day and be consistent. That means you focus on a quality setups, trade the best, and then anything else.

You really should just leave along. Now, the next kind of evolution of that you know is starting to increase share size a little bit more. and rather than just selling, as soon as you have 10 or 15 cents of profit, you hold until you see an exit indicator and then the next evolution is scaling in, adding, adding, and then scaling out selling sellings. Try to keep a little piece as long as you can, you know, and that's all great.

But the fact is, when you start doing that, sacrificing that initial base hit, you know when you, instead of, uh, sell the whole thing at 15 cents, you hold it for a bigger move, You are risking losing that unrealized profit. You know we've all seen stocks flushed down and all of a sudden you know that unrealized gain is gone. And so that's the risk that comes with trying to push it a little harder. you risk giving back.

You know the unrealized gain. And so on a day like today, you know I got my my my sort of one trade you know I got my 20 cents a share whatever it was. but I didn't get 40 50 60 cents a I didn't get a dollar a share I didn't get such a big move that I felt like wow I've hit my daily goal and I have this much extra because when you hit your daily goal and then you have that much extra, you can use that extra as your risk for the rest of the trading day you say? listen I already hit my daily goal and I'm up in extra x amount. So now on my next trade I'm going to risk x amount and if I lose it like who cares, it's I still am walking away my daily call and that's when you're really in the driver's seat.

That's where you can start to really step up to the plate. but sometimes you know if it just so happens that you miss that, you know really good trade that first trade and that might have been the best trade, then anything beyond that feels like chasing and you don't really have the profit cushion to take the risk. and so the right move. In those circumstances, the right move is to protect your consistency and just say all right I gotta lock it up I'm going to be green I'll try again tomorrow I'll try to do better tomorrow And the the wrong move.

The mistake is to just start to spiral. You know to just start trading. trading trading trading, chasing good trade that you missed. Because while there might be some days that you end up finishing better for it, you know you make more what's going to happen certainly a few times.

and maybe even more than what you know, The opposite is that you'll end up giving back a ton and then you end up finishing your day red. Maybe deep red. That's where you're like wow I feel really silly here I had a you know I had a really solid basic day which would have been great. and look at me, it's gone, you know, pissed it away being too aggressive Laden Not the best setups because I'm upset that I missed a good one.

So that's your fork in the road. You missed a good trade. Now you have a choice. You either start, you know, flailing, grasping for straws, just trying to catch the next one because you're frustrated you're overcompensating, or you have the presence of mind to say you know what? I missed it.

Yeah, it's certainly possible that even though I missed that first good trade at the second trade I took could have ended up being a big enough winner that I hit my daily goal on it. In which case you all's well, it ends well and I can keep trading. I've got that cushion that just wasn't the case today and that that trade that I took you know was a little riskier, which is why I it most likely didn't become a big winner because I couldn't afford to just hold that whole position until I saw an exit the cater I knew I was getting in too high. So that's where you know it goes back to the very beginning of getting a good entry.

I Get it though. it's you know if you miss that good entry, it's frustrating and I think if there's a second opportunity and you could take it with small size, you know, whatever. that's okay, but you just want to be careful that that second entry is is still good quality. And if you're that you're not just lowering your quality threshold, you know it's also certainly worth being aware of.

uh, the right stock versus the right setup. On a day when the market is really hot see a couple stocks, they're showing some real strength. I'm willing to trade like less than perfect setups because I know I'm trading the right stock, but that gets into real Nuance of being able to read Market sentiment and being able to really get a feel for you know, how hot or how cold it is. As you probably saw today, momentum can flip on a dime.

We saw stock today go from like three bucks to what was it? Thirteen dollars. Fourteen dollars. That'd be just crazy and we saw another one go from eight to Seventeen eighteen. I Mean we saw several impressive moves today I Hope that it's a sign of more to come.

Maybe it is, not sure yet, but uh, but even if it's not a sign of more to come and let's just say it's not, Let's just say today was like a fluke we had. we have some really good opportunity then. that makes it even more important that you don't dig yourself a hole on a day when things are moving. but you're not centered up here.

You know, because you missed your first trade or whatever the case is through, because then you're just going to be in that situation where the Market's cold, you're not doing super well, and then you have a big red day because you got emotionally hijacked. That's not fun, so you know I have the max loss on my account right now I have it set pretty tight I'm not giving myself a lot of room if I start to slip down I'm just cutting it quick trying to really be dialed in. so those first couple trades they really have to count for me. and unfortunately, today, you know.

yeah, I got green I'm grateful for that, but I was not able to crush it the way I hope to. So I'm in this position that you might. you might as well feeling like we had a big move and I missed it. There was a couple great trades and I missed those two little timid.

but I'll also tell you that it's very common that when it's been cold, those first couple stocks start to move. you don't quite hit him quite right. You are timid. You know it's been cold, you've gotten punched in the face time, so you're a little nervous about sticking your head out.

It's not going to be until you start to see a little more consistency, both in the way stocks just perform and then also of course in the way you trade them that you'll start to gain the confidence to step up to the plate a little bit more. So you know after a couple of base hit days you start to get you know your groove back a little bit you sort of thing. Okay, all right I think I'm getting dialed in, so let yourself off the hook a little bit. If it's been a little choppy, it's been a little cold and you missed a couple of uh, you know, possibly good opportunities.

I'm just I'm sure that you're not alone on that 100 sure. So if that makes you feel better then I Grateful for that. and I would just keep yourself focused on just trying to do a little bit better each day and trying to maintain that, uh, positive kind of mental headspace. because that's what it's about.

When you get in your head, you take those really big losses and you get an emotional hijack. It's such a setback, it's a setback, not just financially. In the loss of that moment, it costs you the opportunity for days, sometimes weeks while you're having a slowly rebuild confidence. There's a lot of missed opportunity.

so doing everything you can to keep yourself at kind of the top of your game mentally is important. and and that's why that really is I mean that's why I've been sitting on the sidelines these last couple weeks because I've just like you know, yeah on the sidelines you get a little rusty and a little bit. but but you don't have to draw down the the emotional hijack that like a real loss of confidence. so that's it for me.

I Hope this was helpful and I'll see you guys for class tomorrow at 11. And for those that have any questions or comments as always, feel free to leave them down below. And I'll remind you since we were talking about trading today and certainly some big movers, then my results are not typical. That trading is in fact risky, so there's no guarantee you're going to find success whether you trade on your own you learn from, so take it slow, practice the simulator, the market will be here for you and I'll see you in class tomorrow.

All right. Thanks for tuning in for this episode. Hope you subscribe to the channel I'll see You soon.