Hey everyone Alright, well guess what? The hot streak is alive now. not in the way that I want it to be. I don't have a red day. Hot streaks.

and when you have a red day, today is a flat day. No traits, very unusual. This is probably only the second day in the last six months that I've taken no trades. I'm still watching my scanners but I don't think there's gonna be anything moving today.

I'm just gonna do the smart thing manage my risk, sit on my hands having the presence of mind to say the markets not really hot today for my strategy. I don't see a quality setups so there's no point in risking $1,000 if I don't see good quality trades. And for me, there's no point in taking a trade where I risk a hundred to make 200 because I'm not trying to make 200 a day. I'm trying to make 2,000 a day.

So if I can't hit my daily goal and I don't see good opportunities, it's actually better for me to step back. Wait, no reason to waste my commissions, waste my energy, just sit tight, become be cool. be that spearfisherman waiting to see the fish. and then when I see it boom I'm gonna strike.

Maybe it'll be tomorrow, who knows, but you know there will be big winners. But today market just didn't have those opportunities so played it safe. Hot streak is alive and well. Alright so I will break down the watch list from this morning kind of what I was looking at.

why I didn't take trades during the recap today and as usual, any questions any comments leave below I'll come back for an answer this afternoon. I'll see you guys first thing tomorrow morning. I Remember to subscribe because I do live broadcasts every morning so you guys can see my watchlist before the bell rings. Alright I'll see you guys tomorrow.

Alright everyone, so we're gonna do our midday market recap here. Go over the trades from this morning I am gonna finish the day break-even which means the hot streak is still alive. Today is not a red day I Ended up not taking a single trade today. This is the first day I haven't taken any trades while sitting in front of the computer and looking for trades since I think December and December was the first time I had a day like that in like six months.

So you know what? I think for me I'm I'm really gonna give myself a pat on the back here because rather than be aggressive and try to swing for the fences and hit a home run which hey, I would have loved to have done I would have loved to have had a big win today. I've got a workshop that I'm hosting tonight at 7:00 p.m. and you know it's always nice to host a workshop and be able to say yeah I made you know eight thousand dollars today. but the risk you know just would've been worth the reward.

I Didn't see a homerun opportunity and you know right now when I was thinking last night about my Pl I made you know 2,000 on Wednesday 1700 on Thursday and then 700 on Friday So what's the trend? They're decreasing profits right? A little less, a little less a little less. And what sometimes happens is if I don't take note of that I will go ahead and take a you know, be aggressive on day four, day five and that's the day where I go into the red. So I'd rather say well hold up. My profits for the last three days have been decreasing a little bit I made only $5,000 last week.

so let's just sit tight see what the markets gonna do. and if that means I take a day off, wait for the market to smooth out and then start trading and make some money. Hey, that's awesome. That's me trading the market I'm in, not the market I want to be in.

that's called presence of it's a really important skill to learn and I know that it's hard because you know ultimately we all want to be green every day, right? I Mean we come here. we sit down to trade. The goal is to make money. It's not just to, you know, sit here and twiddle our thumbs.

but at the same time, there are inevitably, over the course of 250 trading days in a year, there are days that you're gonna kill it. You're gonna triple your daily goal. and there's other days where the market is just gonna be slow. and if you try to be aggressive, you're gonna lose money.

so you have a choice. On those days, it's either a break-even day or it's a red day. It's not gonna be a green day, and if it is a green day, it's not gonna be a big green day. Which means it's probably not even worth the risk of going deep into the red for a very small green day.

Now at the beginning of the year and the beginning of a new month, it's also easy to feel that pressure thinking, well, geez, you know I made X amount last year I gotta you know, make some real progress on that goal or you know we'll look I've got my bills come and do at the end of January I need to make enough money. Don't put that pressure on you, just let it go. Don't even think about it. If you comes in your mind, say I'm not gonna think about that I'm not even gonna entertain that that train of thought I'm gonna focus on what I need to do.

It's being the best trader I Can be trading the best quality setups and the profits will follow. You might have a day on, you know, the last week of the month where you end up making three or four times your daily goal or maybe even more because you're patient and instead of that Green Day Getting you out of the hole from over trading in the last, you know, couple weeks, it's just profit. So anyways, look at the Gap scanner today and now they give you kind of a sense of why you know. My day ended up being a little bit of a slow start.

so these scans I run every single day. My morning routine is is the same every morning I Get up when I I Drive down to my office I Started working in this office about six seven months ago. I Actually, you know I worked from home up until then, but when you know, Warrior Trading grew a bit and we ended up having a number of team members all working at my house. We sort of got to a point where we were like, you know what it's it's let's open an office downtown so we got an office space downtown.

We're right on. Main Street I can go out, you know, grab a bite to eat. Everyone else can do the same I have got fiber internet and so it's really convenient and it's only ten minutes down the road from my house so you know I Get up, you know I dress from the waist up whatever I Come down to work and the first thing I do is I opened up my scanners so these scanners are showing me all of the stocks in the entire US market that are going to be opening higher than they closed on Friday As you can see a Xsm gapping up a hundred and seventy four percent, that's a pretty big gap. so on this one you know I pulled it up.

but I took note of the fact that I already had 2.9 million shares of volume which to me meant that it was going to be crowded. So you see how the biggest move right here early in the day was on lighter volume. What we often notice is that when stocks first come out with news and traders first are jumping into it, that on lighter volume we can see incredibly big moves from 350 to $7 That's like a 50% move on or a hundred-percent move on. You know a total of like half a million shares of volume and then the the remaining.

You know 2.4 million shares of volume was in this period of churn and so one of the indicators that that I use for students during the inner circle we talk about the the market profile maps that show you that volume profile and what we know is that when you get into the lighter volume areas, you can see really big moves. So think of a five-lane highway you know, outside LA or New York City or whatever. When you've got only a few cars on the road, you can be zipping through. Stocks move really fast when there's lighter volume, when the volume gets really crowded, its congestion, and what you end up having are lots of traders that are putting up buy orders, putting out sell orders, and you end up having a much thicker market as you can see here with Bank of America for instance, and these are stocks, they're not gonna move as quickly, they're gonna be more, you know, just sort of choppy.

And so our goal as traders is to try to find stocks that have news, have a valid reason to make a big move, and to try to find it as early as possible. So on a Xsm, by the time I was looking at it here at 9, you know, 15, it was really too late. I'd already kind of missed the bulk of the move and I could have had a bias to the short side, but it did have a valid headline and it was up 175 percent well. The bell rang and it ended up bear flagging and then selling off out of the gates.

So the short bias approach would have worked I didn't take the trade and you know that's that's the way it goes sometimes. but no traits to long side. So this one pretty much was off my list already pre market because I just didn't think it was gonna be a good one for a breakout second one down. my Nd this had news of a merger.

Merger agreements aren't always good catalysts to trade so I had that one off the list. Next one down LX ft is $57 It's too expensive. Ello XO is $230 that's too expensive BS VN only has a thousand shares Sage is 138 QE Peas Got a thirty two hundred thirty seven million share afloat I am SM that floats too high. Price is too low, none of volume flow too high.

flows a little high prices a little low prices do high prices too high. Price is too low, floats too high. this one actually. I ze a was okay.

a dollar forty four ten million share afloat and it did end up popping up here. From a dollar fifty to a dollar seventy, that maybe was the cleanest one actually. and and I missed that one F Pay hit the scanners but didn't really hold up very well and have this pretty sharp rejection right here. So basically the the bell is ringing and I you know I didn't even have anything typed in my level two windows I really wasn't watching anything except for the hi day Momo scanner watching for scanner alerts.

Nothing Nothing. Nothing Nothing Nothing Nothing there. Nothing nothing. Ize a By the time I saw it, it was already kind of too far up.

CER See hit the scanner but only was sixty thousand shares of volume so wasn't interested in that. it's below the two hundred. I didn't see news on it so I left it alone and then you know that was basically it. So no trades today and like I said, it's better to be breakeven and to be read.

So I'm gonna manage my risk in a smart way there and I'll be back at it to trade tomorrow and you know no doubt I'll make up for the days as I skip. You know it's it's just it's definitely a win to say. it's not worth the risk to be aggressive today and having the presence of mind to make that decision is a real accomplishment. So any of you guys that also decided not to trade today, give yourself a pat on the back.

You did the right thing and you know you'll live to trade another day. went back at it first thing tomorrow. Alright everyone, so a workshop tonight 7 p.m. for any of you guys who've been interested in becoming a warrior Pro student I'm gonna host that first workshop of 28 2019 here 7:00 p.m.

Eastern and we will be back at it tomorrow. I've got a warrior pro mentor session for a warrior pro students tomorrow at 3 p.m. Eastern and I got to switch gears here for a inner circle one-on-one session at 11 a.m. so late morning and going into the afternoons I'm doing one-on-one sessions with our inner circle students.

So those of you guys that have wanted you know personalized mentoring either from me from Mike from Steve from our in-house trading therapist Ted or from our junior moderators including Roberto arsh Selina and Vince or I think I'm gonna start doing sessions as well. We'd love to have you guys as part of the inner circle all right. But anyway, so I'm gonna switch gears and do that and then I will see you all either at 7 p.m. tonight or back at it first thing tomorrow morning.

All right, have a great afternoon you guys! I'll see you a little bit later if you're still watching. You must have really enjoyed that video. So why not subscribe and get email alerts anytime? I upload new content. Remember when you subscribe, you become a member of the Warrior trading family.