So let's recap the month of October and talk about the five trading rules that I had and which one stood out to me most. I Really hope that you learned something new, and if you do, please consider dropping a thumbs up and subscribing to the YouTube channel if you feel like we earned it. So first off, what were the five trading rules for? October The first one was closing the position each day. So the idea of making sure that that you don't turn a day trade into a swing trade just because it didn't go according to plan, right? The second rule was allow the market to paint the picture for the day.

How many times have you entered a position right when Market opens and then you know 5, 10, maybe even just 30 minutes later? Uh, direction right becomes much more clear because you've given the market time to identify its direction for the day, allowing the market to paint its picture for the day. But again, if you jump in too early, you don't really give the market the time or really give yourself enough data to go off of to make a more informed decision. So that's the idea behind that trading rule. So get better at closing.

um, a position at resistance regardless of the dollar amount. So that's just something of like, you know, hey, if you're at a if it's showing signs of a resistance or you're at an overbought level, um, never be afraid to lock in profits right and not to overthink it. Uh, the fourth one is, make your money and walk away. We'll talk about that one in a little bit and then having your max loss.

no exception. So mine was set at $5,000 My Max loss? Uh, per trade, right? So it's not for the overall day, it's just per trade I trade with over half a million dollars. Just to put that into perspective, it's a 1% loss. Um, the biggest trading rule that stood out to me in the month of October and I'm not going to short Cod it I want to expand on it? Uh, but I thought this is why it would be super valuable for you guys because I know it is for me.

Um, is closing the position each day 100% out of all of them? I would have to say, you know, allowing the market to paint its picture for the day? Super super important. Uh, getting better at locking in profits at signs of a resistance? you know I'm I'm I've always been okay and and pretty good at already doing that so it wasn't a super hard habit to to improve on. Uh, make your money and walk away. um I I would kind of say those two.

So the make your money and walk away and close your position 100% each day are the two biggest rules that stood out to me. And the reason why is I Often find myself especially if I exceed my daily goal of you know if I hit over 6K for the day I often find myself, you know, if it's still one or two hours within the market open I I'm still trading and one thing that I explained and expressed to my Lpp team is sometimes I'm still trading if as if I haven't even taken a position, right or if I'm not even at my daily goal. And my biggest takeaway from that is that when I continue to trade and I've already exceeded my goal I when you continue to trade, you don't It's not guaranteed that you're going to make even more money right? Often I find myself giving a lot of that money back, right? So like I've had days where I'm like up 20K and then I continue to trade and then I give back $7,000 right? Because I take two or three bad trades uh, that follow and then I'm like oh wow, you know, like there was no reason for me to even do that. One of my biggest takeways.

One thing that and again, I'm going to touch on this tomorrow because I'm making new trading rules for the month of November but I want to expand on this one very quickly I Cannot stress how important it is that when you hit your daily Target or that you see that the market is not super clear anymore. I mean this week is not a bad is not a good example because Direction has been super clear right at least this past week. That just happened. The NASDAQ Market was super bullish.

You could see right the the really nice pushup. it was all in favor of Tqqq right? The NASDAQ Market was going up so it's very easy to kind of go with the flow the idea of making your money and walking away and closing out your position each day. I Cannot stress how important this is by making your money and walking away. It encourages you to be super selective.

You limit yourself on on the time that you give yourself in the market which is you know good and then once you do make it, you just set yourself up for the next day the idea of making your money and closing out your position 100% Let me expand on this. It has been such a bad habit of mine that if I you know once I make my money I leave 10 or 20% of that position if I'm still trading into Market close and I just leave it open. But you have to understand I trade with half a million dollars and even 10 or 20% of your position right? You might be like okay, but what if it does Gap up and I did a pros and con list like in my head very quickly and I was like okay, well if it does Gap up kind of just like Tqqq did at least with Tqqq this week week. it made sense because Direction was favorable right? Market Sentim was very bullish, but sometimes Market's been very choppy and yet I still justify holding a position overnight because I'm like, oh, but what if right? the Market opens up in the green and then I'm up right with a 10 or 20% position.

But most likely right, there's a 50/50 chance that it probably won't And then at that point, not only do I now start the day off in the red, but now I have to catch up to just be break even right. So it's not even that I'm not in the green, it's that I have an open trade now I'm in the red and then now I have to catch up just to even be break even. And at that point, that is twice as exhausting of hoping to get lucky and ending in the green or starting in the green, right? I I see so much value for myself, at least that if I do close out my position the day before four Once the market does open. If I allow the market enough time to paint its picture for the day.

I stay selective I have the option of continuing to stay cash or the option to go long or go short depending on what the market presents for me for that given day, right? And that is a position that is so valuable because I really get to decide what I'm going to be for that next trade. a bull or a bear depending on Market Direction instead of crap now I have to catch up now I have to make back the money that I'm down because I carried over a position on the day. Now that's counterproductive and if we're talking about building healthy habits I don't see holding a position overnight hoping to get lucky when obviously Market sentiment is not clear. Now again, if you're entering a swing trade, that's a different story if Market sentiment is very clear and it continues to show signs of progress.

Then again, you can just the if y it with that because you have a reason why. But if you just carry over your day trade into a swing trade because you're like, well, what if it does open up in the green I cannot stress enough. it. It brings on so much more stress just to carry over that position and possibly open up in the red.

You're just putting yourself in a more challenging position. especially if you're under the PDT rule, right? Because you're going to waste day trades, you're starting off in the red and you're going to be wasting day trades just to get back to zero, right? So why even do that? So for me, it's much more peace in mind, starting clean every morning, giving the market the time that it needs, being selective and then choosing what I want to trade instead of feeling like I need a catch up. And to me, that was one of my biggest takeaways in the month of October that I'm going to work on in the month of November of walking away when I hit my daily goal even if it's at 8:00 a.m. or 10:00 a.m.

Just respecting the market enough. it's not about respecting me, it's about respecting the market enough that I know I can give some back and at that point right just knowing when to walk away and to not be afraid to close out the position 100% because of the peace of mind that it provides the next day. To me, those are such valuable habits I want to work on that I really feel can make a big difference long term and again, that's what it's all about, right? Building small but healthy habits today that benefit My Future Self And that's what we're going to continue to work on tomorrow. I'm going to be uploading a video about healthy habits that I'm going to be uh, establishing for the month of November So make sure that you guys stay tuned to that.

all I ask you to do is subscribe. Um, and hopefully we earn your thumbs up in this video. And let me know down in the comment section what was one of your biggest takeaways for the month of October when it came down to Lessons Learned and habits that you plan to establish in the month of November. So hope that ear a thumbs up.

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