All right everyone. good morning. Uh well. uh Wednesday Morning here.

We're already at the middle of the week because of course we had the holiday yesterday. So I hope you guys enjoyed the day off. I'm sitting here this morning looking at a very dull Gap scanner. You know you see the top three gappers and percentage have no volume right now and then you've got impl A-s-a-c-s-t D-w-a-c Dwac just popped up a little bit, but you know these aren't These aren't big moves right now, so today feels like the day after a long weekend.

In a way, it feels slow at the moment. There's not a lot of really strong headlines. we're not seeing a lot of really clear, clean, obvious moves. Uh I don't see what the obvious stock would be for this morning.

So I haven't taken any trades yet. I'm being patient. I Think that's going to be a key to success today, because here's the problem. if you go red, if there's not a lot of opportunities, it'll be really hard to recoup those losses and it would be very, very easy to go red.

Um, so let's see. um I would say at this point we've got 30 minutes to the opening bell, but um I am not super optimistic that we're going to see anything exciting in the next 30 minutes. Let's see I'm just putting my message in my support room. Yeah, okay, all right.

uh Cccc or C's this one? Uh, false breakout on a five has rolled over. Not very interesting looking I Don't have any interest in it. It doesn't look great. floats higher.

It's easy to borrow. it's It's very unlikely to me that it's going to be anything exciting here in the next 30 minutes or the next hour, so no interest in that one agfy reverse split XXII I Believe this is a reverse split as well. So you've got a couple reverse splits today. impl dollar 69.

This one's a little bit cheaper. Bwac sitting at 15.25 Uh. I had a rejection you could see right here on the 10 second chart. It popped up to a double top at 1570 and then rejection and came back down.

Well, let's see. Um, well, the floats too high on that. Price is too high as well. Overall: Market S P 500 Pulling back a little bit this morning? Uh, still over uh.

440. but uh, pulling back just a little bit. Nothing super exciting. Um, Rvlp to cheap.

So this is the type of day where I put my audio alerts on the scans and you know I just sort of sit and wait. I'm not gonna. There's no point in staring at the level two and getting sucked into a trade because I see a big buyer or something like that? I've got to wait to see if something actually starts to pull away. So Dwac I was a little hesitant on it I traded it and did very well on it back when it made this really big move.

You know, nearly two years ago I mean this was forever ago, but you know it's really since then. just it came down hard. it did. Bounce from 40 back up to 90.

Sold off hard and it's pretty much at the lows right? so there is some news out on it. Um, but I don't find it to be super exciting. In any case, if it starts to move up I'll be interested I Feel tired today. It's like you know it's three o'clock in the afternoon.

It's a funny time to kind of for me to sit down and be super super focused. I'm not used to it, so in any case, the Market's making me only more tired because nothing looks interesting. really foreign. All right.

Well, I'm just saying tight. I've got my audio alerts turned on, so um, I'm ready to trade. But nothing right now is very enticing. So let's see.

Um, we have rules. A question. We have rules in place to control our emotions, but they can hurt our P l um I mean yeah, they can hurt your P L Sometimes following your rules can keep you out of a trade and if that trade appears that it would have been a winner, then you feel like following a rule hurt your P L. But that's in a very narrow view over the Long Haul The ideas that following rules keeps you out of the really, really bad trades and so if you're out of those trades, then that saves you far more than any money that you lost for missing some good trades.

Uh Jazz What's the audio alert? So I have audio alerts on my scanners here. so when a stock hits the scanners, it's going to trigger an audio alert. So I can go walk around I can go outside. whatever.

As long as that my speakers turned up I'll hear if a stock starts moving and it uh, fits my criteria. Um I think Ncra is a broken chart. It popped up early early, but um, rejected and came back down. so I have a hard time trusting that kind of chart pattern I Think for a small account, it doesn't really matter when you start because a small account is all I mean my Approach is.

It's about taking 10 Cent Winners and just stacking them up. so taking lots of base hits and the 10 Cent Winners though you can find those any day, The problem is, it would be a hard time to try to, um, swing for home runs. So if you're doing a small account Challenge and trying to swing for home runs like putting everything in one stock and hoping it goes up 400 percent, this would be a bad time for that. But if your mentality is focusing on basic basic base hits, there's been tons of Basics Um, you know for sure.

So how big a loss is and whether or not that's acceptable is going to be based on your risk tolerance. And of course, you know your account size if you have a 500 account losing the whole thing. Well, yeah, that's a bad percentage loss, but it's also only 500 bucks. so maybe it's tolerable having a twenty five thousand dollar account losing the whole thing and that's going to be pretty painful.

You don't want to. You want to really, really try to avoid that. Um, so you know for me, I have I have a six figure account I have had one for a long time. There was a period where I kept my account around 50 000 and then I kind of kept around 100 and then 150 200 and right now I have it at around 300 which is the smallest it's been in probably I don't know two years, but this doesn't feel like a time that I need that extra buying power and I just don't need it right now so there's no point in it in having it here because it's an opportunity cost by not investing it somewhere else.

So I always am investing I take the money that I make day trading and then I reinvest it. So if money's just sitting in cash, that's not working I'm losing money on inflation. So I want to keep that money growing? That's the whole idea. So for me, day trading is a way that I can grow.

You know, relatively quickly. Smaller amounts of money, you know, a couple hundred thousand million something like that and then I take that because the thing is, you can't I don't know a lot of people that can day trade with like a 10 million dollar account and you know, go from 10 million to 100 million. There's not it, it would be. It would be too hard to scale into positions.

Um, you would have to hold for days and there's people that can do that. but that's a totally different Strat that's not the type of day trading that I do. It's not the type of day trading that I learned how to do when I started trading. I have a small account so I take the money that I make trading and then I put it in places that can handle that type of scale.

But then of course the returns are small, but that's fine. All right. So it's about uh 10 past, so 19 minutes to the 18 minutes the opening bell. No trades yet? Uh do I use stop losses I use Mental stops I don't use live stop orders pretty much ever pre-market They won't even work so you have to be disciplined.

You have to be able to press that sell button. Ira Trading is margin only with no leverage. That's right. Can you send an email? Um, a email team at Warrior Trading.com that that's really the fastest way um to get in contact tonight? Can let people know to look for your email.

The internet speed's okay. um internet's better today than it was. um on Monday I'm using a US broker a U.S broker's support Roth IRAs which are for retirement an international account wouldn't support that. 2wac it it sorry.

it did go up a bit. Um, but I didn't really trust it. The volume was very light at the time, the spreads were big, it didn't feel safe. it ended up squeezing up and then it came back down.

It did a full, pretty much a full retracement so it didn't hold up. I Don't really think I missed that much. So yeah, this feels like a Monday after a long weekend. it feels slow.

So I'm trading pre-market right now because the strategy that I've traded for all these years has been based on trading stocks that have news. and that used to mean the news would come out pre-market but trading wouldn't start till 9 30. and between 9 30 and 10 is when I would trade and then news came out and people wouldn't wait till the 9 30 opening bell. They would start trading it sooner and so if you didn't jump on, you missed it.

So now it's kind of like you trade right when the news comes out. So 7, 7, 30, 8, 8, 39, 9, 30 and then once the Market opens, we don't have as many uh news headlines that break during the trading day, so news headlines usually come out pre-marketing after hours. So that's actually been a little bit of a better time to be trading news. Uh, Jack you probably above 10 million and below 200 000.

I did try to trade large caps when I was getting started and what I found was that, uh, my results were very inconsistent because I was trading stocks that, uh, I was trying to trade the same basket of stocks pretty much every day. I was going to the same same old names that I was familiar with. I was trying to master them and it felt impossible to find an edge. Um, you know you would just look for a setup.

You see a setup that looks good and then all of a sudden it would do the opposite what you thought it was going to do. I could not find consistency. The area I found consistency was focusing on stocks with high relative volume and you're going to see the highest relative volume on small cap stocks. And so these are the stocks that I've traded for all these years, turning less than 600 into over 10 million just trading small caps 14 minutes the opening bell, 13 and a half minutes.

So I'm on the Amalfi Coast in Italy and I've been here. Uh, let's see since the I can't remember what day I flew out anyways. I've been here for a while and um, I'm gonna be here for a bit more and then I'll be back. Uh, towards the end of July back home for a little while and then I will be um, traveling again.

Yes, 583 dollars to sixteen thousand one month in 2017. That was all base hit trading Base hit base hit base hit. It's just that I was able to take more share socks last month. I only took base hits I finished up thirty four thousand dollars.

Just base hits, nothing. Nothing huge in a hotter. Market You'll start getting some of those bigger winners. That's that's what allows you to start to really grow an account.

That's when you start getting a couple of the big winners in addition to the basics. Yeah, I Want to go to Thailand at some point? CCC It's a grinder. You're not gonna find this. CCC is type of stock that you buy and you hold you walk away.

you come back. Uh, you know, an hour later it's going to be up 10 cents a share, 15 cents a share. This is not a fast moving stock. It's not going to be a parabolic stock.

I Would be shocked if it becomes that it's easy to borrow with a higher flow. I Just don't think it's likely so it's current price action isn't interesting to me. Is it possible that later in the day it keeps grinding higher, accumulating short Sellers and then it starts to squeeze? Maybe that that's a different setup than what I would be typically trading and I'm not going to participate in that move. I did do a small count challenge with TD Ameritrade using um, a cash-only account.

so I traded half the balance every other day and that's fine. You know it's it's just going to be slower. but you have no commissions so you know you keep more of what you make, but it's going to be slower. All of the tools that I use, from the broker to the charts to the scanners, they only allow trading the U.S market.

So if I wanted to trade, there's a question of why am I only trading the US market? Why not other markets? If I want to trade other markets, I would actually have to, um, get a whole new set of tools for those other markets. And you know I I don't feel inclined to do that and not many people do. Yeah, really. I mean we have international people that come trade the US market because it's got so much volume and even on a day like today, we don't have a lot of volume.

So you know if you think the volume is like here, you should see some of those other markets. Thank you. Appreciate that. Saba Uh yeah, this one I took a big loss on I think it was last year, not interested in it.

The Fourth of July sale is not going to run very long, it is still running right now. It's a a discount on your membership of where you're trading which includes access, tools, chat room, streaming, news, scanners, charts, and classes that go with it. So you know how to use the tools. So how come so question how come I can trade in Fidelity account pay no fees whatsoever and you do have to pay fees I don't use Fidelity It's because I use a different broker.

that's why I use a broker that is for professional Traders that's what it's for. It's for institutional Traders but I use it even though I'm a non-professional retail Trader I'm a non-professional from the uh regulatory sense because I don't have a license I'm not a a broker. but of course I trade for a living. So um anyways, that's a broker that charges fees and what you get in exchange for those fees is the right and the ability to do direct access uh routing.

so you can route your orders through very specific networks to for executing your trades and that can increase your execution speed and speed is can be profitable. So uh I you know the thing is I started trading there so long ago. it was when you still had to pay you know, four, five, six dollars a share. TD Ameritrade If I was starting over today, I probably wouldn't use the broker I'm using I would probably just use TD Ameritrade Um, you know, but I have so many students who use it successfully.

I I Think it really is just fine, but I'm used to something else. Uh, um. I haven't been quite willing to switch you, but I may at some point. Oh, there are tons of examples of hidden buyers and sellers in the classes.

Yes, uh, yes, the starter includes access to my stream. Uh, and you'll see that if you come over to the website. So the problem with shorting small caps I mean you're shorting stocks that are pretty cheap? You're you're You're the most it can go up if from a short would be if it went to zero. and that's not going to happen.

On the other hand, a three, two three dollar stock could fairly easily go to four, five, six, seven, eight, nine, ten dollars a share. So just from the pricing fact alone, your downside as a short seller is a lot higher than your upside. That's a fact, All right. So you've got a lot more downside than upside you.

In fact, you have unlimited, um, downside risks because of how much you can lose shortage. And we have stock just last week or the week before that went from fifty dollars to a hundred and ten dollars a share and it happened really quickly. So that's number one. It's a lot more risk and I've seen a lot of short sellers I mean again and again again blow up their accounts I Don't really see that many short sellers who are successor I see a lot more of them who pull up their accounts, so that's it.

Takes a lot of discipline to be able to bail out when it goes against you and not just keep at it. You only have to blow up once and then you're done right. So number two, uh, availability of shares to borrow. It's hard to find shares to borrow on a lot of small cap stocks, so you could have absolutely the right idea.

but then you can't find shares. If you do find shares, then number three, you have to pay to borrow and it could be expensive. So now you're in the red before you've even taken a trade just because of your borrow fees. Number four: you cannot short in a retirement account, which means I would have to pay income tax on all of the gains I make on the short side, which means I would only keep half the profit.

So what's really the point? And I Guess number five is the market keeps going now. so shorting against one of the strongest economies, the Strong Bull Market. it seems like a recipe for disaster. Now that's just my personal opinion.

I'm a long bias Trader I Invest long term in the market to the long side. I'm not a short seller. That's not the way I approach it I Do understand how short selling works I understand it well enough to know when they're going to cover and when we'll see a squeeze. but I don't I don't trade to the short side I Do still have a Cmeg account, but their fees are high I Agree 100 it's It's not a cost effective platform.

it's an expensive platform. So I do my YouTube broadcast from 9 to 9 30. basically to give you my watch list, it's not uh, it's really not meant to Encompass my whole trading session because I'm already streaming to Warrior Students, My Warrior Pro students and I continue to stream after the opening bell. The 9 to 9 30 Morning Show is to give you my watch list, answer some questions, maybe take a couple trades if something's moving, but it's a small little sample of what my day is like.

Thanks Bob Thank you guys for hitting the thumbs up I Hope you guys had a great Fourth of July I Put the link um in the chat feed here for our fourth of July sales which are still going on. You can check them out for um, uh, probably the rest of this week through. Thursday Friday All right. So um, we've got about a minute to the opening.

Bell so I'm gonna end the YouTube Morning Show here. reminder. As always, trading is risky. My results aren't typical, so manage your risk, take it slow, practice the simulator before you put real money on the line, and um, make sure you don't try to blindly follow me or anyone else.

All right. I'll be streaming again tomorrow and I'll see you guys then and I may come on. I did a Q A um on YouTube live yesterday so you guys are welcome to check that out. Um, you know the more people that check it out, the more people that watch those videos, the more inclined I am to do them again.

So uh, so check it out, Hit the thumbs up and I'll see you guys for the next one real soon. Foreign.