Alright, let's go over the trades from today. today's midday market recap. It's a little after 1:00 p.m. now and I want to go over you know kind of the trades from today and how things went down.

Today was a day that I hit max frustration levels and you know this happens from time to time. This is not the first time I've had a day where I was at kind of max frustration I'm sure it won't be the last day. this is part of trading unfortunately I'm just today was really trying to get a really good sized winner and that didn't happen I only took one trade today. the one trade I took was on Dr.

Am. Now I was head to 10 on this one pre market because of the fact that it had popped up to 3:30 and pulled back down to three dollars on no news and I thought that was a little bit concerning. but when the bell rang I had it on my radar as one to watch and it quickly popped up here to 335. It first popped up to 325 and on that pullback I added 3,000 shares.

At 325 it pops up to 335 them up 300 bucks Could I have taken profit? Sure I couldn't take them $300 I didn't I let it pull back right here and I said you know what on this one-minute pullback right here I Really like the way this looks because on the daily we're curling up, we're curling out of consolidation and we have room up towards 382 right up here. Now the things I liked about this stock was that the float was low about 1.5 million share flow. That tells me that this is a stock that has a very limited level of supply and can potentially make a big move and can move very quickly unlike some of the stocks that we've watched. You know for instance, some of the higher price names I'll let me update Screenshare for you guys.

Looks like it's lagging some of the higher price names or higher flow stocks. They just don't move that much like Immu for instance. So I Am mu for instance, one of those names that has a lower average true range doesn't move as much lower risk but lower reward potential. So the stocks that we usually do really well on our floats of under 10 million shares.

So seeing Dr. Am had a 10 million share float or 1 million share float made me think okay, this might have some potential on the daily chart to open up. so as it pulled back on the one-minute micro pullback right here at 331 or 330 I said you know what I'm going to add on the first candle to make a new high which is right here at 3:30 I added 10,000 shares now I had 13,000 total, it moved up to 347 and I was up I mean I guess 1600 bucks which is not bad I was looking for the break over 350 and I actually was ready to add another 5,000 shares for the break of 350 which would have gotten me up to 18,000 with an average of around 335 probably or 338 with the 338 average with 20,000 shares or 18,000 shares. My target was a move up to 384.

so if this had broken over 350 and gone to 360 and 370, I would have been up. Let's see: 38 48, 58, 68, 30 cents. That's about 5 $5,000 Winner potentially and that's what I was looking for. My goal this week was to have won $5,000 winner and I thought that this one could be the one.

Unfortunately, what I did is I took a $1,600 winner and I didn't take it off the table I didn't lock it up I held it looking for the bigger move and on this candle it came all the way back down to 328 and at that point I've said this before I have a really hard time when I was just up 1500 bucks to break-even I have a really hard time selling at breakeven it's really hard for me to do that I'm not sure exactly why it's so difficult, but I'm not good at selling when that happens and instead I held it and I said well, I was just up 1,600 bucks I'm gonna I'm just going to hold it, it's probably going to come back up and so it ends up coming down to 320 and 318 and now I'm down 1,300 bucks and I'm like, dang it this is. you know not what I wanted to do today. Now it's consolidating here and I'm thinking okay, well first Campbell make a new high is what I'll watch. Meanwhile, I'm looking at the five minute candle that just closed as a red shooting star and I'm thinking that's not good.

it's holding the 20 moving average which is fine at this point I'm already down 1,300 bucks. I'll just see what happens. and I sold on this candle right here as it broke down and I ended up losing 2,700 bucks and went from being up 1,600 to down $2,700 And that's max frustration. I Think you know that's when you you know when you go from being up a thousand or 1500 bucks to down a thousand or 1500 bucks 2,700 bucks.

Whatever might be max frustration, You get it into a setup using good entry. Totally decent entry. That wasn't the problem. the problem was it didn't break over the half-dollar and then it suddenly dropped 20 cents.

And of course 20 cents with 13 thousand shares is $2,600 So you know I ended up instead of stopping out break even taking a 20 cent loss on it and I'm frustrated about that this. I I Know that there are traders in the room who were saying good trade I made money on it because they sold at 344 345 they took the profit. Now you know as I Suppose the head of this trading community, the largest trading community I tried to lead you know by example: I tried to make every trade I take fall in line with the strategies do they teach I don't like to sell three seconds or five seconds after I buy it's you know I like to give trades time to work and on this one the time I could have locked up the profit is if I sold it immediately. but that's not really what I was looking for I was looking for something a little bit bigger and then of course the emotion with a bigger position is that when you hit the bailout button, you do get slippage and so I hit the bailout button at probably three 12 or three thirteen right as it broke here.

the low is 318. I might have hit it at 315 and of course I got filled at three, fourteen, thirteen, Twelve eleven ten, you know I'm getting filled on the way down and so obviously a little disappointing I'd like to be in a lot of ways one of the first ones in the trade, but also in a sense one of the last ones out of the trade in terms of our students. I mean I don't want to leave you guys hanging I'd rather go down with the ship if it's going down unfortunately like I just and in this case, that's what ended up happening I gave at the time. you guys certainly had opportunities to get out for profit, for breakeven or for a small loss and I ended up.

you know, holding it until I broke down here. So definitely a frustrating day. It's not just losing money, that's frustrating right now. it's the fact that I've been I feel kind of up against a wall for the last few weeks I keep coming up against it and pulling back and that wall right now is fifty thousand dollars in my account I keep coming up to 47 48 49 and then pulling back 46 47, 48 49 and then pulling back I keep hitting this wall I Don't think it has anything to do with $50,000 I think it's just that we're in a bit of a tricky market and it's a market where we're not seeing as many homerun trades.

I mean on Friday we had ZN was it Friday or Monday we had the Yen which was the surprise move that all of a sudden went from two fifty to four dollars. So we had this one, but that hasn't carried over whatsoever into other names. this was just one trade, it was one stock and every other one since then is just been flat. So you know MD was the MD Rx today or Mt Mt Now I'm forgetting what it was MT BX and B TX MBR X this one today the same story really.

it's just right out of the gates, kind of popped up, dropped back down. not easy to trade. so for me, this, this is again just kind of. The month of June has not been what I was hoping it would be last.

June was fantastic I made thirty two thousand dollars this month. That's not going to happen last month I made about eighteen thousand or seventeen thousand. It was decent, but I really wasn't that impressed with it. And of course in the month of April I lost four grand.

So as of right now, I'm down about two grand on the month of June You know I just haven't been getting those home runs rates and unfortunately this month I've had a few big losses the same as I did May Prabha $600 loss earlier this month, had a $1400 loss earlier this month and $2,800 today and not seeing the big winners to really compensate for it. So after commissions are all said and done, I'm down like two grand on the month right now with seven days to go. But you know what's my goal for the month I'd like to finish the month up ten thousand dollars. Realistically, that's my minimum target.

ten thousand dollars a month? I mean really? I'd like to be up twenty thousand, but I'll take ten thousand on a month like this I might have to just settle for zero. The fact is coming into the market every single day looking for setups, taking trades, and treading water is a bit taxing emotionally. I Think this is a time where if I wasn't the head of this community, I would probably just take a couple weeks off. I would just wait until someone says hey, we're having some really good momentum.

You should come back So you know, because the reality is I'm up $150,000 this year so far and I really don't need to be grinding out during slow trading I wish that maybe I was a little bit more adapted to different market conditions and that I could be extremely profitable in all markets. I'm sure everyone wishes that probably every trader in the world that may not be realistic, even even the best traders. you know, even the Bill Ackman's have read months or even read years in the case of his hedge fund. You know I mean it's not unheard of, but as a day trader I certainly don't like it and so you know.

Yeah, that's the thing. JP You know yeah. I made I took $500 and turned it into $100,000 in 45 days. But in day trading you're only as good as your last trade, so no one cares about that anymore.

You know it's what can you do today. Okay, what'd you do yesterday and what you could do tomorrow? So there's always that pressure to keep delivering. And I think that right now we're in a difficult market to keep delivering to keep getting homerun trades. we're just not seeing a lot of them.

I Know Mike is doing pretty well on some of the higher price names he did really well on Tesla Traded I think Adobe and Red Hat today I was watching these ones. but my concern is that if I'm thinking about starting to trade penny stocks or starting to trade 150 dollar stocks, that the fact that I'm thinking about that isn't indicator. To you know, take my hands off the keyboard because that's not my go-to strategy. That's not what I built my career on.

That's not what I've made you know four hundred, fifty thousand dollars in the last few years trading. This is going to be a quarter the second quarter of 2017 where I simply don't make a lot of progress. First quarter I went from five hundred to one hundred and forty five thousand or something like that. And right now for this second quarter, lost four grand in April made 18,000 in May and so that's a net of 14,000 and right now I'm down two thousand on the month.

So twelve thousand. Granted, that's still four thousand dollars a month, which is still on par with the average income in state of Vermont 52 thousand dollars a year. But of course it's not what I would expect of myself. It's not where I want to be I can't force it though I can't force the market to be better I can't force amazing setups I you know, can't I can't You know, I just have to sit tight you in wait.

It's hard to do that though. when you're coming into the market every single day after a certain period of time, you just it's easy to let that frustration get the best of you. And so I know some of you guys are probably like, well, you know you've been doing this for a long time and if you can't make a couple thousand dollars in a month, you know what are the odds that I'm going to be able to make that? And I think that it comes down to right now the different approaches. there are students I know John is one of them.

He's certainly he's green. On the month it might be up 5,000 or 10,000 dollars I Know he's not having a record mountain, but he's doing well. He's green, He's probably on the stock like Dr. Am, taking his 5 cents and getting out and I'm still grind.

I'm still a little bit more in that swing for the fences mentality and it may be because I'm not as dependent on the money that I make trading. You know I've got long term investments and you know, of course, as the owner of the largest trading community I'm focused on the business and stuff like that. So I can afford I suppose to hold some of these trades and look for a 5 or 10 thousand dollar winner. And if it doesn't happen, it doesn't you know really matter as much for me the money that I make in my trading account I'm just putting away for long term retirement anyway, so it's that may be a factor in the way I trade.

these are personal fact so that any one of us might have for different reasons. Justin Who's got his real-estate business and you know things like that, he may be thinking well, you know I can hold these things and be a little more speculative. Give it room to make that big move. Next thing you know, it goes back to break-even.

when you're counting on that 300 or 400 dollars a day to pay your bills, you definitely are more aggressive with taking the profit off the table. And I think I've gotten I've moved away from that a little bit since my account has gotten larger. I mean when I was in the $500 price range $1,000 two thousand, three thousand I was certainly very quick about taking the profit off the table because I was so focused on the small account. now my accounts bigger and the money in it just sort of sits there.

I'm not really doing anything with it other than you know, trading it and stuff like that. and I think maybe the you know the that's affected me a little bit. I could cut the account size down I was planning on doing it once I got over like fifty five sixty thousand dollars and maybe that would help I'm not sure. but right now the reality is we're not in a really strong market and if we were in a strong market I probably would have made five or six thousand dollars on Dra Em and I probably would have made eight or ten thousand dollars two weeks ago on that stock that I lost five grand on and a lot of the trades that had been just sort of breakeven or small winners would have been big winners.

That's what it was like in February when I made $70,000 and the best month that I've ever had, everything was working. We were just in an incredibly strong market, so that attitude of hold it and let it ride certainly worked very, very well during the stronger market, in the slower market the way we're in right now, you have to be faster about taking the money off the table. So just because I haven't been particularly successful this month, doesn't mean that you following the same strategy that I trade wouldn't have done better because of those personal motivators. The reason why you're taking the profit: the account size you're trading with the purpose of your trading account Stuff like that.

For those of us that aren't, depending on the income from trading, we may be a little bit more speculative and that may mean during a hot market we make a little bit more because we hold the winners a little bit longer, but during a weak market we kind of break even because those yeah swings for the fences don't really materialize. and I don't know, you know that that might be a factor so something to think about there. But I don't want any of you guys to be discouraged because the reality is I will bounce back and I've had so far a fantastic year despite the fact that these last couple of weeks or months have been slow and this has been you know, I spent some time in the last couple weeks looking at more. You know, thinking more about some of the real estate that I own, getting building that out a little bit more whether I want to continue doing that or or not.

So you know those things have been on my mind for sure. that might be distracting me from trading I'm not sure yet at the moment we're a little bit of slow market. Fortunately, my long-term investments have been doing well since we're at all-time highs on the spy and you know, collecting the the monthly rent from the properties that I have. so that's all good trading.

It'll bounce back right now. We're just in a little bit of a grind and my tendency to swing for the fence has not been especially good for for this market. So you know that's just kind of where I'm at right now. And some of the thoughts that are that are on my mind: I Know you know will be interesting to see John's blog post at the end of this month for the month of June I think in one of the months earlier this year when he did his blog post in about I think he made I don't know 40 $50,000 trading and he'd made another forty fifty thousand dollars on his other businesses and that definitely changed his mindset.

the ability to diversify your income. It's something that I really encourage you guys all to think about in one way or another because of the fact that when you diversify your streams of income, you're no longer 100% dependent on any one of them and that makes you less stressed out, right? You know if I was a hundred percent dependent on rental income and all of a sudden you know a boiler goes out and I have to put five thousand dollars into a new furnace or I've got to fix a roof and it costs three or four thousand dollars? Suddenly that becomes a major issue and you get a lot of stress. Same with trading. if 100 percent of your income is dependent on trading, you have a bad month and it's like oh my gosh, this is crazy.

But when you start to diversify, you become less stressed on any one single. Avenue And because you're less stressed, you perform better. Stress doesn't help you perform better. Now today I was getting a little stressed out and I think part of that is because I'm have a lot of people watching me over my shoulder and so when I trade badly or I'm not trading at the level that I would like to be trading, it frustrates me and adds pressure.

But for you guys who aren't in that situation I really encourage you to do. you can to diversify your income. That way you're just going to be less stressed out and that means you're more likely to be performing better and as a result, you'll do better. I Mean it's just this kind of domino effect.

It's a spiral and it can either be a positive spiral or it can be a negative spiral. The negative spiral is when you get frustrated and so you start forcing things and then you lose more money and you get more frustrated and you for some more things and you're spiraling down. You don't want that. You want to spiral up where you're increasing confidence.

You've got multiple streams of revenue that are doing well. You can work on little bit of this. You can work on a little bit of that and that's how you really create the ultimate financial freedom. I Think that's really that's really the key.

And so a lot of the students that are in Our Warrior Pro course are already small business owners. They own their own businesses. Justin was a good example. John of course is a good example.

Many of our students are in this same situation where they have their own business and they decided to add trading as a second source of revenue. They're like. well. I could trade for a couple hours a day.

Why not? like how many of you guys right now we've got six hundred still in the room? It's afternoon. I'll just do a quick survey. instant poll here. How many of you are small business owners or are working on second or third sources of revenue? question? Mark me, get hurt? Yes and no.

I'll just put up a poll here. So again, this might not be the best time to do a poll because of the fact that it's 1:30 in the afternoon and more than half of all of our members have already checked out for the day. Probably some of them because they've got to go work on one of their other businesses. But mmm, you know.

In any case, right now looks like we've got 67% working on that second third source of it of revenue, which is fantastic. That's really good. now. owning your own business can have a lot of headaches regardless of what the business is.

so it's not always. You know whether it's real estate or I mean it doesn't matter what it is, there's headaches in that business. But that's why it's nice to have diversification so those headaches? because it's not your only source of revenue, doesn't become as big of a deal and you can have a little bit more of just step back from it a little bit and and not let it bother you quite as much. All right, So that's an interesting poll there, but not surprising.

And of course, trading is something that is all about being independent and that is right in line with owning your own business of course. I Suppose trading is your own business in a lot of ways, but in any case, that's my. That's my recap for today and some food for thought. and hopefully that inspires some of you guys to start thinking about how you can generate some additional revenue streams.

if you haven't already, at least get that. get that thought and going in your mind. Okay so I hope you guys have a good afternoon and we will pick back up first thing tomorrow morning at 4 p.m. Today we'll have our warrior procession which I'm hosting.

So I'll see you guys students at 4 p.m. All right, that's it for now. I'll talk to you guys soon. Oh hey I didn't see you there well I Was just working on the dream board for my next home run trade.

Hopefully it comes soon. Until then, make sure you subscribe to get email alerts anytime I Go live or upload new videos. Until then, Happy surfing!.