Hey everyone Alright, Well here we are finishing the week with another red day. This has been a little bit of a disappointing week. Not a lot of progress in fact I'm gonna be in the red this week, but that's part of being a trader. You got to take the downs with the ups.

It's hand in hand, you can't separate the two. So this is a week where there's definitely a lot of opportunity to learn. And my hope is that by sharing the rent days with you, you maybe learned even more from those days then from the big green day. So enjoy the recap.

As always questions, comments leaving below and I'll see you guys first thing on Monday morning. All right everyone. So we're gonna do our midday market recap for the morning today. This is the like I don't know fourth or fifth day I'm just really like lackluster action in the market where we just haven't seen a lot of good momentum.

We haven't seen a lot of follow-through deleting gap or today, well bleeding Gaffer was NCT Y which was too cheap, wasn't interested in that PRP o is actually the one that I focused on. it's now at two dollars and eighty three cents. but PRP oh you know I traded it yesterday. it made this big move and pre market it kind was looking like we were gonna get second day follow through continuation.

so when the bell rang it dipped down. For a second it dipped down and then it surged up and as it surged up here I jumped in at right around 362 it then flushed down to 339. It then continued to sell off to 330 I tried to take a bounce trade-off of 330 right here that failed I stopped out of that so one lost two losses and then I was just done with it. So you know it's kind of almost impressive.

To the sell side: 1 2, 3, 4, 5, 6, 7 8 red candles bear flag another big red candle bear flag, another drop-down bear flag another drop down. So the momentum on this one was on the sell side, we did not see clean follow through. This is it did not give second a continuation. so on that one I lost 2,000 bucks which is disappointing.

So this one got me for a two thousand dollar loss on two trades. which you know is disappointing also because I lost on it yesterday. so right on it yesterday. Red on it again today.

This one I just did not trade well so I gotta mark this in my calendar. I'm down 922 on the day. Let me. let's see, there's my P&L here on the day so was red.

yesterday was red today you know I was green on Wednesday but not by a lot. So it's kind of like having just this whole week has been a wash, you know which? It's a kind of just a bummer, although at the same time, we had a really nice hot streak from mid-august until the second week of September where I made about $60,000 So $60,000 during that hot streak during this cold streak? I'm down about five grand this week and I was down 800 last week. So second red week in a row. Damn 6,000 making sixty thousand over four weeks and then losing six grand over two weeks.

In terms of you know, keeping things in perspective, you know that's good progress. A little bit of a setback and you know, obviously I would like to see next week I start to stair, step back up. Guess what next week is October October November December January Those are statistically my strongest months of the year, so I'm really looking forward to being on kind of the other side of the statistical you know kind of trading line. We're typically from May until September for me is slower and then from October through well February and March are better so that's something to be excited about.

I Do expect we will see more stocks like PRP Oh, when I was hosting our workshop yesterday and looking back at some of these charts, you know I was like man, those are some beautiful charts stocks that were going up 100, 200, 300, 400 percent in one day. Looking at BP ta to Arkady Al Fi N Dr Y Yes, I mean some of these just incredible charts and those typically are setups that we see between. Well, I guess it's between October and March or so. So the fact that we're getting into that time of year is great.

I would really want to try to capitalize on it. and although I'm a little disappointed to have a couple of you know read trades this week and to have two weeks of basically you know, difficult trading, you know it's not breakeven trading. I mean I have lost some money these last two weeks, but fortunately I haven't dug myself a really deep hole and you know that's one of those things that I'm always thinking about. Drawdowns happen in trading.

You know it's trying to be a trader who never experiences loss. You're trying to achieve the impossible. So rather than set a unrealistic standard, the standard that that I instead try to set is to have minimal drawdown as much as possible. So if I look at my detailed here and these are my metric all my metrics.

So this shows me my my drawdown stats. Now draw downs for me have gotten bigger this year as I've been trading with larger share size. stakes are higher and that's just been. You know this.

This is sort of like this: bigger share size, bigger dollar amounts, bigger draw downs. So the biggest one I've had now I think in my entire career was a $46,000 drawdown. So I lost 46,000 dollars off of my my all-time highs so we can go back. that was that was this little blip right here.

Doesn't look like a lot, but that's what it was. And then I had another pretty steep drawdown in June down 34,000 and then I had a drawdown in let's see the beginning of August before my hot streak began. that was 15,000 and my drawdown right now is about 6,000 So you know, trying to keep draw downs less than 10 grand or less than 15 grand I think is a good you know, a good kind of standard and that means that it's okay to have loss being a loser 29 percent of the time. Well, I still made over a million dollars milli and a half dollars during this period, so it's okay to be wrong.

Thirty percent of the time it's just and sometimes those losses are all clustered together. Usually they are. You know I'll have a period where I'm trading with just not a lot of follow-through losses get clustered and then I'll have a period where I'm trading really well in the winners of clustered. So when the losers are clustered, that's when you're gonna be experiencing.

It's this stair step down and the goal is to minimize it as much as possible. Now, if you're a trader who has days or weeks like this where you just give back weeks or months of progress I want you to know that I know exactly how that feels because I have been there. The goal that I set for myself when I was having those types of draw downs was to try to I was having them almost on a monthly basis once a month. I would give back my entire previous month of profit.

So I you know, make some progress and then give it all back. make some progress and give it all back. And I started to set a goal of just trying to put as much space between those bad red days as possible. So I say okay, it's been.

You know it's been how many weeks since I had a snowball red day where things just got out of control. It's been one week, it's been two weeks, been three weeks before weeks. My goal is to get at least six weeks and then I got at least six weeks and then I was like, okay, my goal is to get eight weeks between these red days I know that they're gonna happen. They're maybe not a hundred percent avoidable yet, but just try space them out.

And then I tried to get in the mindset of you know, understanding what are my triggers that are resulting in this type of drawdown. This was a very emotional week of trading for me. Without a doubt, I was trading emotionally I was had a lot of stuff going on. it was really stressing me out and I I wasn't I wasn't a hundred percent there in terms of my own training.

Now you know, even for me having a sense of awareness I still kind of let it happen and so it's something that you know always have to try to focus on and improve. So anyways, and that's about it for me. I've got to run here so I will catch up with you guys first thing Monday morning. Hopefully we have some great stocks on the scanners.

We can start the week off on a good note. Monday will be the last day of September and then on the other side. So yeah, and the trades on TTP H I kind of was focusing on PRP Oh TTP H pullback trade here adding into a halt Oops up here that didn't work a drop down coming out of the halt I sold three quarters of my position right at the half-dollar held the rest into the halt for the move higher I actually added back into the hall and then held what I was holding at that point. came back down, stopped out Fran So this was not a very good one so we reverse split setup which I thought might work Fran Nice pullback here, but I took the Fran trade when I was already in TTP eh and I was out of buying power.

Both of these are non marginal so I actually ran out of buying power mostly because Fran is so expensive. but anyways that that's it for me. Then a $900 red day I was able to cut the loss in half rather than try to make it all back I Cut it in half and you know that's that's in progress. So anyways, that's it for me.

I'll see you guys on Monday if you're still watching, you must have really enjoyed that video. So why not subscribe and get email alerts any time? I upload new content. Remember when you subscribe, you become a member of the Warrior Trading family.