What's up, you guys? All right? Well, Red Day recap. Down 19 000. That's not the way I wanted to start the week, but you know it's the way it sometimes goes. So I'm gonna break it down for you guys.

In the recap, I'm gonna talk uh, kind of a lot about Trader Psychology today and some of those uh, parts of trading that can be really frustrating, even for someone like me who's been doing it for a long time. So please hit that thumbs up button for the Red Day recap. I hope you guys are subscribed to the channel. For those that have said Ross, you only recap your Green days.

I recap every day. I've been recapping every single day since January 1st, 2017. So you can go back every day Red Day and Green day. But you know it's been just the case that over the last few months I've had a really nice stretch of lots of green days.

Not too many red days, but here in the last week I've had a little cluster of choppiness. A couple red, two red days last week, one already this week, a couple of small green days on Tuesday and then on Friday. So feels like you know I'm kind of churning a little bit. you know, was up 22 000 on Friday, then down 19 000 today.

Maybe I'll make 20 000 tomorrow. and then I don't know. lose 10 000 on on Wednesday. That's grinding.

And you know. I mean if you're going to be grinding and going sideways, you might as well do it with smaller numbers. But I mean I don't know. I guess it doesn't really matter, but I I just.

I feel like today was kind of a frustrating day and Tesla just was the biggest letdown for me because I had a couple of great trades. I had absolutely the right idea and the wrong timing. It's not enough to have the right idea, you need the timing down also. And so I'm right on Tesla, which is a large cap tray that I kind of switch gears too because small caps were slow today.

But anyways, you guys enjoyed the recap again. Make sure you hit that thumbs up button if you haven't already and I'll see you first thing Live streaming as always tomorrow morning for the watch list. All right. See you guys in the morning! Okay you guys So uh, we're gonna do uh, red Day recap here.

Red Day to start the week Monday, which is not a great start to the week, but um, yeah, it's it's interesting. Tesla is my biggest loser today. Obviously a large cap stock, but on Tesla I I really thought that. I mean honestly, it made a really big move today.

But here was my problem. I was doing breakout trades on it and so my Tesla trades back here. Uh, let's see like one of the first ones. So this was a trade I took on Tesla right? Oops.

Hang on. Let me get my pointer up right here. So I got long right there on that green candle. I bought a thousand shares which is a pretty big position on Tesla.

uh as you can see it pops up 251 and then drops down here to a low of um down here was 43 and I stopped at about 40. I don't know, it was like 43 44. So on that one I lost 6 000 bucks and not a second later and the reason I stopped out was because you know I was in for the break of the half dollar and then it flushed down and then a second later it rips up here all the way up to 1787. Unbelievable.

It pulls back here for a second as you can see and I got long right here for the break over 1900 which I thought was gonna give us a break through all-time highs. it didn't and on this one even though I was up three dollars a share on the ask for a second I didn't take profit and I didn't stop out till this candle here. So one loss, two loss and these were both buying breakouts in contrast to buying dips. And then my last trade on uh Tesla was right through here.

um where I got long as it was um in this area and I bought right here as it was breaking this level because I thought okay here we go, we're getting ready to break through the highs break out trade stopped out down here or wherever it was right down here. So again, I just, uh, you know I kept taking stabs at it. but the breakouts weren't working and the problem with Tesla is that I didn't feel confident enough to buy dips. And I think you know that speaks a lot to my strategy from a few years ago where I was much more confident doing breakouts in general across the board on small caps, and I wasn't confident doing dips.

and on days where we were only seeing false breakouts, I would just lose money like I did today on Tesla. Whereas now that I'm much more comfortable doing dip trades on small caps, it usually allows me to do pretty well. Lode is another frustrating one. This is not responding super well to breakouts.

It's got 173 million shares of volume and you know it's choppy. It keeps breaking levels and then breaking back below them. Whole dollars above below, below the v, back above it, back below it, back above it. The high here was 210, but it's at best.

You get five eight cents on a breakout and I took a couple trades on it and I had one winner and two losers. So I'm read on Lode by four thousand bucks. Mbot was the leading gapper today and I tried my only trade on. it was a red to green move and so I bought right here.

At 12 at 10 000 shares, it squeezed up to a high of 12 20 and then right back to 11 and I lost 6 000 bucks and that was it. I was out. You know. So this type of price action.

Now seeing Lode breaking that level, this is really hard to predict. There's no real rhyme or reason. I mean yes, you have the first five minute candle to make a new high over 207. but this technical setup right here that just came back to a double top.

That's not a pattern that I've I visualize. It's not a pattern that I see it happened, but I don't know why. I don't always understand why you have some of these moves that sort of go against the logical pattern, but you know it's the way it is now. Rxt is the one that I'm green on.

There was some news on it and it squeezed up and got halted. And I bought on resumption from the halt at about 17 or 1870. for the break of 19, it squeezed up to 1945. it then came back down so it didn't hold its levels.

So unfortunately today I would have been better off had I not traded Tesla. But on the other hand, I had some really nice trades on Tesla a few weeks ago and I had a day where I bought it for the break through 1600 if you recall and it ripped 30 a share. I mean it went from 16 to 16 30, 16, 40. it was awesome.

And so when I saw Tesla moving today, I was thinking about how awesome it was on this day. and on that day, it actually responded pretty well to breakouts today. not as much it? I don't know, so you know it's a little setback here. Nice 22 500 day on Friday, and then, you know, starting the day, starting the the week here in the red 19 000.

That's gonna be me closing the biggest red day uh, possibly of the year relative to the biggest green days, It's certainly not. It's not the end of the world and I'm not read on any individual stock more than 11 000 and I'm not read on any individual trade more than 6 700, which was the one big loss I had on Mbot. But if I pull up my stats here and let's see, I'm going to look at calendars, so I'm definitely catching up here with. you know, a couple red days last week and then a red day again here.

So three red days kind of clustered together and a small green day on Tuesday and of 11 000 and a small green day on Friday of 22 000.. I did make 92 000 on Monday, so you know I'm in good shape on the month of August, but I could, really, um, you know, do without too many more red days. So 34 or 348 000 was before Friday, so 300. Well well basically it's gonna be the same.

It's maybe up to 350 now, but um yeah, I don't know. It's uh. I think the thing with momentum is that we have ebb and flow and we know that. And today I wanted to be a little patient because some of the stocks that oh my god and if Tesla breaks 1800, I'm gonna I'm gonna literally cry.

Uh I won't cry. But I'm gonna be really discouraged because this right here like it doesn't. Oh my god this is. it.

Doesn't make sense. You know what I mean like look at this and I can't get back in here. You know I can't get back in. I can't get back in at 97.

I was in at 90 bucks or 1790. I can't I can't add back at 1800. it's a bad entry but this one this one has done this today a couple times on me like it's exactly what it did before and I set my stop down here at um. 1778 because I was like yeah, let's give it room you know, give it room on your stop so you don't get stopped out and then I lost the full.

you know I hit the full stop down there at 78. I got filled at 76, 76, 13.. So now here we go in that one minute it went from 87 to 99 and now you're gonna have people that most likely will chase the breakthrough 18. But the problem here is that, um, I'm already down 19 000 on the day if I got in for the break of 18 with a thousand shares.

And I mean let's just say best case scenario, it goes to 1805, I'll make back five grand. All right, that's it's. just not gonna be much. I can't take three.

Four thousand shares of this A thousand shares is 1.7 million. That's a lot of money. now. I think that if it breaks 18, it's gonna rip.

It's going to give us quick squeeze up to 1810. But I could be wrong just because I think that doesn't mean it'll happen. So let's see what it does. There's 98.50 So typically right there this is a micro pullback.

I would be buying this for the breakthrough 98.60 So let's say this is where I'm I'm going long, so this is where I'd usually be in and I'm crossing my hands because I'm frustrated and can't take the trade. If I have my hands on the keyboard, I'll probably my hands will take it without me without my my brain cross checking it. So I'm down. A dollar on the bid.

Two dollars on the bid. Dollar on the bid. Two dollars on the bid 96 34 Was there 96 34. So I'm down two dollars a share on the bid.

If it breaks 96 I'm gonna start to feel a little panic. the one minute's holding up but it feels like it's floating in in thin air. Um, you know it's just so stretched out. 40 on the ask 97, 39 on the bid 96 on the bid 96 26.

Oh boy. Well, I'm I'm I'm honestly just. I feel a little discouraged. But sometimes trading is discouraging.

Sometimes it's You know, even after years and years of doing this, you'd need to do this for 10 years. Almost 10 years like I've been doing it and still get faked out. It's every single day we come in here to sit down. I'm excited.

I love sitting down and trading. I really do. Uh, but that's of course because the majority of the time I'm green. You know when when you have days like today they're frustrated? Absolutely.

It doesn't matter that I'm up 350 000 on the month, It's frustrating to have a day where you come and sit down and it feels like nothing is working or where you get stopped out and then it rips. I would have been, you know, better off. Today, if I had just taken a position and walked away from my computer, I'd be up from my position. Down in the 50s, I'd be up 50 000 bucks on a thousand shares.

So the fact that I could have been up, you know that much? Uh, but I'm I'm red On the one hand, it's frustrating on the other hand, as a motivator to try to be better. You know, sometimes people are, uh, they'll You know, they're like Ross. Man, you're up 350 000. Why do you even sweat it? Why do you even care? I want to be better.

I want to do better. I mean, you know it's even on a day where I'm green 20 000. if there was an opportunity to do better, I'd want to do better. So uh, you know this is a day where the market is definitely getting me frustrated.

and small caps were choppy this morning. So that's why I was kind of like. you know what, small caps are choppy? I'm going to leave them alone. I'm going to switch gears to large caps and Tesla's clearly strong.

And I did have some green trades on Tesla, but I didn't take the profit I was holding for the bigger move. and then I kept getting stopped out. So you know if I had gotten in this here for the break of like 93.94 You know that did give a quick squeeze up to 99. but now here we're back.

Four dollars a share. Five dollar to share off the highs. It's pulling back today. I in terms of share size, I was pretty good about my share size.

I was mostly trading with small size. I mean Tesla is kind of a different different ballpark there, so there's back to 99.. there you go. See that move? That's a four dollar move on the ask.

Four dollars on the ass? 450 on the ask? Oh god it kills me. It's so upsetting to have had the right idea and to have the wrong timing. It's not enough to have the right idea. You have to have the right idea and the timing.

so will it hold 18? If it holds 18, the next stop's 18 10.. So you know I was in with a thousand or 500 shares at 1790 and I was looking to add for the break of 18 to get myself back up to a thousand shares. Realistically, right now, with a thousand shares, I'd be up eight or nine thousand. Again, you're not talking about huge money.

Um, in terms of what's good for me because I can't afford to take that many shares of this. I mean even a thousand shares is a ton of money. I could trade options on it, but you know that's uh, those are tough for quick trades because they're the spreads are bigger. So um, you know it's a, uh, I don't know really what else to say.

It was the right move to stop out. It came and broke support. I could have said i'll wait till it closes below support but then I could have lost another three four dollars a share. I cut my loss and then I couldn't get back in because it spiked way too fast.

This micro pullback right here I couldn't take because I had already had too many false starts and if I was still holding the whole thing now, I'm back to break even. Look at that down. Back down. Ten dollars a share? It's it's hard stuff.

Um, you know this is it's A. It's A. it's a hard stock to trade and maybe I should have just left it alone and said, well, there's nothing in the small caps. I'm not even going to trade this, but it had some good trades on Tesla previously, so I figured I'd give it a shot today.

I just, I don't know. couldn't time it right. So you'll live and learn. At least I lived down 19 000, but I'll get through it and I'll be back at it tomorrow.

And you know I, I don't really know. It's it's very hard to set expectations right now or Targets in terms of like, goals and things like that because this market has been crazy. I mean, I've been having twenty fifty, seventy, five thousand hundred thousand dollar days so many times that it's like just that's routine. But then the last four days, uh, or five days I guess including today has felt kind of like, um, I don't know.

It feels like the wind has sort of come out of the sail. like. all of a sudden, it's like, where's the momentum, What's going on? Why are we seeing so many false breakouts? Could it be that it's August? No. Maybe.

Could it just be the ebb and the flow we had a crazy crazy run and now it's time to be patient and wait for a A quality A plus a plus opportunities and trade less. Maybe I didn't trade a lot today. Rxt was, uh, two trades Lode was I think three trades mbot might have been two trades and Tesla was maybe three or four trades so I didn't I didn't take a ton of trades, but I just didn't really have any winners. I didn't have any good winners, so now you're back down here.

So people who chase it, they get you know, spanked by the market. and of course short sellers might have gotten a little squeeze there, but it's tough stuff. So all right, Well, I live to trade another day. Uh, I mean I would be disappointed today if there was a small cap stock that had ripped up to 300 and I was red.

I'm red today because there really wasn't a lot of momentum. It was choppy. It was choppy across the board and I tried to dip my toe in the large cap market with Tesla and I just didn't do well. So if I hadn't taken Tesla, I'd be down 8 000 or so on the day I did venture out and lost 11 000, but I think I had made like 12 or 15 or something on it last time I traded it.

So all things considered, I'm not going to say I'm Tesla's dead to me, but I probably won't trade it again tomorrow. Tomorrow, I'll probably just focus on small caps and if we don't have any good small caps, then I'll just leave it alone. Now to add a little, um, salt to the open wound. I did get stopped out on my swing trade on Tesla with Td Ameritrade.

Obviously, I mean that clearly. So the problem is. Td Ameritrade has been offline today. I still can't log in on my computer.

I can only log in on my phone. So my max loss stopped me out on Tesla. Um, but I do have one swing trade that's still open on Netflix which is green. So I read on the day on my swing trades.

but that's to be expected with this big move on Tesla. So I'll I'll make it back later in the week probably on something else. But for right now I'm not going to add anything new because I can't even log into a Td Ameritrade on my computer. Um, I'll show you when I try.

It's honestly kind of pathetic. It's 2 30 in the afternoon and every time I try to load it says installing updates. I'm going to restart my computer and I'll actually shut things down so I can restart it. Um, right after this.

But yeah, I uh, every time I log in even though obviously I'm um, connected to the Internet because I'm streaming. so let's see, it'll give me this little error message. oh gosh, is it gonna let me in here for the first time today? Looks like it's actually loading. so 2 23 is the first time today I've been able to actually log in.

It's that's still pretty pathetic. But all right. So finally logged in. Um, yeah, so all right.

Well here we go. So um, Etsy, that was, uh, from last week? It's I don't know why I was still there. Um, Netflix So 235 on the day, but Tesla 1700. So Red, Red, Red Red Red Today across the board.

But again, all things considered, it's the you know, it's the ebb and the flow. So you know, let's look at this since. um, look at this since May. so we'll go to detailed.

I mean, since May, this is my fifth red day, Five red days and four months of trading is phenomenal detailed. And let's look at the win loss expectation. So that's where I was sitting before before today. So today is gonna be down.

uh, a little bit more. But you can see these are, um, these are very small pullbacks in the grand scheme of things. But I was cognizant of the fact that, uh, I did have a couple big red days last week and I was like, well, I was 13, 000? whatever. But I said to myself, listen man, you don't.

Even though you might be able to afford a 25, 000, 35, 000, or 50 000 red day or even 100 000. Red day doesn't mean I want it to happen. So don't be stupid. You know, don't take 50.

000. Don't get aggressive because sometimes when you start to get frustrated, you just start pressing that buy button. You're like, screw it. You know I'm just going to go in.

I'm going big and can only go so big on Tesla. But you know, on a stock like Lode. If I wanted to be stubborn and buy a hundred thousand shares, I can afford it. It's two dollars a share.

It's a cheap stock That's only 200 grand. I could buy 500 000 shares of this. I mean, if you really want to be stubborn, you can. You can be stubborn on some of these if you have enough buying power.

So uh, but that doesn't mean it's gonna work. That's just you getting frustrated with the market. and the market will almost always punish you for trading emotionally and trading impulsively in that way. So it's definitely a good time right now to try to be a little more patient.

And I I would say I'm okay with trading large caps right now just because of the fact that I have such a big cushion in terms of my monthly profit and annual profit, that this is a good time for me to try to venture a little bit outside my typical comfort zone and and see whether or not you know I can start to develop some strategies for trading large caps because there are times of the year um, where large caps are really, really hot and where small caps are slow and so when that's the case, you either say all right. Well, I guess I'm You know, I guess I'm not going to make any money for this little period of time or hardly make any at all. or where I'm going to, you know, step up and really try to, um, you know, venture a little outside my go-to So anyways, I'll keep venturing a little outside, but I'll maybe try to manage the risk a little bit better so I don't have maybe an 11 000 loss on a large cap. Today I was kind of going for potentially that trade on Tesla, saving the day that last trade for the break over 1800 and ended up just actually doubling my loss.

I was down 8 500 and then after that trade down 19 000. So oh boy, what a day. Well, I'll be back at it tomorrow and I'll trade with a little smaller size until we see that next stock that makes a big move. That's what I need.

I need a 200, 300, 400 move and uh, that'll probably spark the next round of momentum, but you know it's a patient waiting game. Until we get it. it could be tomorrow. It might not be until a week for from tomorrow.

or maybe it'll be longer. I don't know. Um, but until that happens, the small cap market's probably going to be a little choppy. That's usually the way it is.

We get a big big move. Three, four, five hundred percent. All of a sudden things get really, really hot for a little stretch time. Big winners all clustered together.

Big green days, back to back to back. and then you get one that just is a bull trap. You know, it traps the bull traders. All of a sudden you get a huge flush.

It's red all day long. Kind of like what we saw on Mnpr and we saw it on a couple others. And then all of a sudden long traders get nervous. short sellers get aggressive, and that starts a period where stocks just seem weak and heavy aggressive short selling, which you know you could short, but then availability of shares to borrow is always going to be a challenge.

and something like Lode is probably hard, long or short because it was just choppy and grinding. So in any case, um, I'm not going to flip short And I don't like flip-flopping I think that that creates even more problems when you say oh, I'm short and like lost. Now I'm going to flip long. I'm long.

I lost. Now I'm going to flip short. Then you just start to really get dizzy. so I'm not going to do that.

I'm just going to be a little patient right now until that next round of momentum starts leading. Gapper Today Tyht was a reverse split, so only 70? That's not a huge gap. I mean, only 70. We've been seeing 100 gappers on a regular basis, so anyways, ready.

Recap: Hope you guys enjoyed it. Um, not the end of the world for me, but I know. discouraging. Uh, certainly for uh, for me.

and probably for a lot of you guys who you know come in every day to try to make a little money, and when there's not a lot of money to be made, it's yeah, it feels a little frustrating, but I have to just remember that, uh, there's no way I would have been able to anticipate this crazy stretch of momentum that occurred from May until you know, here in early August. And every day I come in because you never know what day it's going to be that you cast your line out and you catch that big fish. You just never know. You never know when that big winter's gonna be right around the corner and when all of a sudden you're gonna, you know, land on a stretch of really hot trading.

Maybe some of the best trading you've ever had your whole life, So you got to keep showing up every single day. Some days are hot, some days are slow, and it's important within your risk profile to manage. The downside? for me, a 19 000 red day? Yeah, it's not fun, but I made 22 000 on Friday. It's one step forward.

one step back. so manage your losses based on you know, kind of what you typically are making on a good day and then said that, Maybe that, or maybe that times two at the most. So you know, my daily goal right now is 10 000 my daily average. Um, since May has been 38 000 a day in in profit, my daily average on the year is probably going to be around 20 000 a day, 19 482 per day average this year, 3 million in gross profit.

So you know a 19 000 red day is no big deal, but you know, having five of them back to back? Well, that starts to be a little bit of a problem, right? So that's where you just gotta start to just be mindful. All right. So anyways, that's it for me. Hope you guys had a better day than I did and I will see you back here first thing tomorrow morning.

And that right, There was an entire video with no ads. I don't monetize my Youtube channel with video ads, which means you guys get to enjoy the content, but do me a favor, please hit that subscribe button and give me a thumbs up and let Youtube know that this channel is the channel to watch if you want to learn about day trading.