What's up Everyone All right So well. as you can see behind me, the lights are still shining red. second red day recap. Well, third red day of the week.

I'm an a little bit of a rut last Thursday the market was slow Friday market was slow Monday last 32 bucks Tuesday I made almost ten thousand which was awesome but it was just one opportunity and the rest was pretty choppy yesterday I lost 1,300 and today I'm down $5,800 So good news is I'm still green on the week, but bad news the last week has been pretty choppy. We're not seeing good follow-through so today is. what's really frustrating is that I was Green I was up two thousand dollars and I managed to turn that into being red Five thousand on the day that for me is a trigger to just walk away. It's like so frustrating.

so you know closing up shop walking away. did the recap. You guys can go through it. any questions, any comments, leave them below I'll answer them later and as always we'll be back at it first thing tomorrow morning because you know what, rather than try to keep trading today, I'll come back at tomorrow.

There's always another trade. it'll be around the corner. we're gonna choppy. Marcus So best thing to do is just you know, reduce the risk, be smart and wait for better opportunities so that's the game plan.

Hope you guys enjoy the recap and I'll see you first thing tomorrow. What's up everyone? Alright, so time for our midday market recap. Today is sadly a red day recap. so I'm gonna change the lights to red because that's the kind of day it is.

It's a little disappointing I will be sniffing my fair share of gasoline today because I am down five thousand, eight hundred, fifty nine dollars and 78 cents which is the exact opposite way I Was hoping to finish today, but you know this is the life of a trader. There's ups and there's downs. You can't take one without the other. You can't separate them.

This is just the way it goes. So you know the good news is I am still green on the week. So even though I'm down, you know almost six thousand dollars today. you know it's still a green week and that's what's important.

It's not as as big in the green as well. Obviously it was before today, but making 10,000 on nearly 10,000 on Tuesday was a great day and you know so now I was read on Monday down 32 bucks, read yesterday down 1,300 and read today down 5,800 So for sure you know the momentum is is slowing down and today today is a disappointing day because you can see my accuracy was actually pretty good I'm green on three out of four names but then I had that one trade that I got a little too aggressive on and I got smoked. So the trades out of the gates will just kind of break it down. We'll start by going over the the watchlist pre market.

Alright so every single day starts the same way and also reminder guys this coming Monday July 30th at 1:00 P.m. Eastern We're hosting a live online training session with me so I'll be teaching you guys about how to manage risk, how to find strong stocks to trade, and how to find a quality set up. So the - on YouTube and Facebook you'll see the link to register down in the description so would love for you guys to register. Seats will be limited as usual.

I think we're gonna cap it it I Don't know if it's 250 or 500 seats I Can't remember but we've had some problems with our webinar online trading software so hopefully by keeping seats limited we'll have better performance. So anyways, that's coming up next week. But what we're gonna talk about during that workshop is one of the steps of finding strong stocks to trade. and so every day starts the same way.

It starts with going over the Gap scanner. so with the Gap scanner is showing us is all of the stocks in the entire stock market that are gonna open higher this morning than they closed yesterday. Now we go over this all the time. This is not anything new for those either in the chat room, but the reality is every single day there are stocks that move twenty to thirty percent.

BS P.m. today was up over a hundred percent. That's a huge move. so we see these opportunities again and again now.

We can often identify these opportunities pre market before the bell even rings by looking at this scanner right here. So SVU is already gapping up 64 percent pre market 64 percent. So the whole thing with pre market is kind of funny. The pre market starts at I Want to say 4 a.m.

for some stocks and goes up until the bell rings at 9:30 Now, most stocks don't trade pre market, maybe a couple of shares a little bit here and there. Most just don't really trade pre market institutional traders who want to take really big positions. They're not going to be able to buy pre market because there's not enough shares changing hands. So institutional traders don't trade pre market retail traders.

Yeah, we could buy small positions pre market, but a lot of times stocks they don't have a lot of volatile ah'd of volume and they're a little choppy err. So for most of us we wait till the bell rings. Now if you look at a stock like I, just look at Apple For instance, Apple this morning it traded pre market. The gray here is the pre market period.

So after hours and pre market right in here. So you know a little bit of trading. but a lot of these small cap stocks are pretty thinly traded this morning in the entire stock market of thousands and thousands of stocks over 10,000 stocks. This is the entire list of stocks that were opening that were already at more than 5% pre market.

So we've got 2, 4, 6, 8, 10, 12, 14, 16, 18, 20, 22, 23 stocks. if I'm counting that right, Only 23 stocks at a 10,000 that are up more than 5% That's significant. These are breaking the standard deviation of typical range. so these ones are the ones that we're going to look at.

and I focus on the top 10. so 2, 4, 6, 8. Well, so you know right around. From there, up is what I'm looking at now.

I Start by looking at the stocks that are lower float. They have a float of less than 10 million shares so that's this one here. this one down here and that's about it. So this morning there were only two with a lower flow.

and then I also look at the ones that are up the most. so 64 percent is big. However, at $32 I won't trade it so that one's off the list. BPI acceptable I'll watch it ta o P Acceptable Maybe a little high on the float.

at 23 million, this one's too high. and so just like this, this one's too cheap. I End up narrowing down my watchlist to a few that look good. So this morning we're watching a WX for possible continuation.

Had a pre market chart here where it was consolidating. We were watching that for a break to the upside. It did end up breaking to the upside and then it ended up having a really sharp drop. Very very difficult price action.

I Ended up making money on it but only a hundred and eighty six dollars. It just wasn't an easy stock to trade. and so you know my my only trade on it was coming out of the halt the it opened and it was very choppy. choppy, choppy, choppy up and down, up and down, up and down and then all of a sudden boom it pops up in this halted on circuit breaker it resumes and I jump in for the break of 510 it pops up to a high of 523 I sell three quarters and I stopped out of the rest as it comes back down making only 180 dollars on five thousand shares.

Very silly, you know, just not good at all. And look at this ended up just tanking right here. So why is this this stock doing this spiking up here and tanking here? I Really don't know. He was doing it yesterday and it was very difficult to trade whether you were long or short.

So I don't know what's up with that one but only made 186 bucks on it. Alright next one on the list Ta o P I Wasn't sure about this one I thought it was a little too cheap. ended up you can see popping up a little bit but I just didn't go for it. it wasn't that interested.

Next one down TR CH The float was too high above 20 million not interested ft ft higher float light volume no trades this one Nothing nothing A DMA On the watchlist pre market, you can see how they had a pre market high of about 530. The bell rings and it starts surging up. All of a sudden, this one pops up. makes a big move I jump in it as it's squeezing up.

Getting in for the break of the whole dollar at 6, it squeezes up to 6. Let's see 6 17 comes out of the hot, gets halted, Resumes hits a high of 6 30. I had 5,000 shares so I'm up about 1500 bucks and then it comes all the way back down. So I only actually made $296 on that trade.

Another really small winner so just kind of a bummer there. And then we had BPI Alright so BPI was on the watchlist this morning, had earnings right here on the scans and you can see out of the gates. This put in a really nice move from 10 dollars all the way up to 12. I Took two trades on it very first trade out of the gates I actually took a short on it, shorting right here at 11:20 sorry 1122 which is very rare for me, but you can see I'll scroll this up short at 11:21 smaller-sized I'm not as comfortable to the short size a little higher price stock shorted it 11:21 it drops to 1090 I try to cover I don't get filled and then I stopped out as it curled.

so I made 250 bucks it then as you can see it was doing nice pull back, will pull back there and move higher. a little pull back there to move higher. sharper pull back here but it ended up moving higher so you know pretty good strength and so I ended up getting in right here to the long side at 1175, scalping up to the move to 12, selling 1/2 $11.99 and then stopping out the rest as it came back down So you can see I'm long at 1077 selling half at $11.99 and sold the rest as it came back down at 64. So you know again, not these aren't home runs.

these were very small trades, only up 360 bucks on that stock and then came BS P.m. BS P.m. the one that ruined my day. So Bs P.m.

when it first started popping up I was like I don't know guys I don't think I liked it that much because look at how horrible it was yesterday. it just tanked. it dropped really hard, received a listing notification so it drops really hard but then today it starts popping up Alright so I'm like honestly I'm not that interested in it unless it breaks over 250 the half dollar. that's the 200 moving average.

So unless it breaks over 250 I don't care about all right? So it pops up to $2 it gets halted. It resumes higher, squeezes up to 250 and to 69. so I jump in at at 269. there was this 2 so I jump in it at 269 right here I get partial fills on all 4 orders and I've got like 3500 shares.

It resumes and it pops up to a high of 3. I added 290 I sold half of my position or whatever this was at - 299. sorry I can't see this very well. Let me move this up.

so I sell half my position at 299 I then added back at 3:20 and 324 I sold it 329 and right here I was up $2,000 on the stock and I was feeling good and the thing was taken off it was squeezing higher I then decided to add for the break over 350 because I thought it looked like it was gonna get a halt to the third time in a row. So I add right here 7500 shares at 330, 340, 340, 3:42 and then look what happens. I added so high and then in one candle in one minute it went from a high of 343 to a low of 263. At that point I was pretty much a deer in the headlights I was just like you know, no type of thing and you know, it's like the problem is.

the one of the worst things is when you have a profit, you're up being up two thousand dollars and then seeing it all of a sudden reverse and now you're down like five grand. There's just it's just the worst. There's nothing worse than it going from being green on the day to going to read on the day. For me, it's a trigger.

It's absolutely a trigger because it just brings out the emotion you had it and then it disappeared. it's gone. So the red the green to red move. It is the worst move to have as a trader and so at this point it's top.

It gets halted going down, it opens lower and they end up stopping out for a seven thousand dollar loss. I lost seven thousand bucks. So I went from being up two thousand on it to down five thousand and I was down four thousand on day four thousand, three hundred or something. So it's going sideways, going sideways I Decided to get back in here as it was moving back up.

it hits a high of 295. it pulls back I hold through the pullback. it then pops up to a high of 320. I Hold through the move thinking that I'm looking for a retest of high a day on this kind of u-shape and then in this candle, it drops all the way down to 274 50 cent drop.

It's sin consolidating sideways, sideways, sideways and I'm holding holding holding until finally I stopped out right here. So I lost another fifteen hundred bucks on that pullback and you know it's just it's disappointing. It's you know, to go from being green on the data rad, it's very frustrating. It's a trigger for me and so I ended up.

You know, following the rules. max loss is five thousand if I'm down more than five. K I'm done for the day, so it's set back, no doubt about it. But the last two days I'm down like $8,000 and that's a bummer.

but it's not Again, really outside my standard deviation for pullbacks. as I'm growing an account for me, the largest pullback I've had is closer to 25,000 or $27,000 I'll just show you my reports where I track that information. So let's see I'm trying to remember I think it's under detailed win-loss expectation and this is my cumulative pl and this is the max drawdown. So right here you see this is growing all the way up to over a million dollars of profit since I started using the software which was in 2016.

So my max drawdown is $22,000 so that means over you know from from all-time highs the most I dropped was 22,000 and that was on the last drop which was I Think right in here that was the last one I went from yeah a high of 870 2000 and profit down to 850 thousand. So that was a $22,000 drawdown from the high. So today, my drawdown. well, my cumulative drawdown in the last two days is about 8,000 So that's gonna be a dip almost undetectable on this equity curve and and I'll bounce back from it.

No doubt about it. It's just, you know I Got to make sure I don't have another red day tomorrow. You know another $5,000 day would put me down thirteen thousand. Fourth red day could put me down Fifteen thousand A fifth red day.

You know that's where it would start to really compound. but in the context of where I'm at right now I don't really? I'm not too concerned about that happening. The thing that that gets me is when in one trade I lose like ten thousand bucks I just have a blowout loss and and I'm not already green on the day. That's when it hurts a lot.

But fortunately I I didn't have that, didn't happen there, didn't happen today and hopefully won't happen. Alright so anyways, you know this just kind of helps put it in perspective for me. Which always helps. Anytime you have a red day, it's like okay, let's put this in perspective is this Is this an account buster? Is this? say just a normal standard deviation? You know these days I'm not gonna say that going from A1 of going, you know, dropping down 22,000 which is what these this is right here.

$22,000 drop I'm not gonna say that's not painful because that was painful I was really frustrated myself I was you know, disappointed. But then I Have to say listen. Russ You know no one's gonna be playing the violins for you because you're having this kind of little pullback. Give me a break.

You know this is where you've come from. This is what you've done in the Let just in the last two years. You know, give yourself a break. Yes, you're red.

Yes, you got to adjust the markets a little choppy. It's a little slow, but this is part of trading. You've got to get used to it. So you know today you know I'm not gonna beat myself up.

but I'm disappointed that I got aggressive on BS P.m. However, had that gone into another halt above 350 and squeezed up to four which in a strong market certainly could have? Well, I might have been out ten thousand dollars on that stock. And remember I had a ten thousand dollar a day. Nearly ten thousand dollar day on Tuesday So you know this has been a really nice hot streak right here.

It's been about almost a hundred thousand dollars on this leg. It's been a good leg and here I'm gonna have my first little setback which will be down about eight thousand. Hopefully I can turn it around on well I don't really expect to turn around on Friday tomorrow's Friday but Hopefully I can turn around early next week and you know finish July I'm in good shape I guess above 40,000 somewhere between 40 and 50 and going to August feeling good? That's the game plan. Alright, so any of you guys that have a red day today or ever have a red day, the first step is put it in context: You know we all have red days.

Being a successful trader is not about never having red days. That's not what's about, it's about having average winners and exceed average losers and/or having a percentage of success. That's where you win more than you lose I win about 70% of the time even? You know? Yes, I have read days just like anyone else I That means I lose 30% of the time. So three out of every ten trades will be losers I Got a couple of them today, but overall my accuracy is pretty good and this is over the course of years of trading.

However, for me, my profit loss ratio is about one to one. My average winners are about equal to my average losers and that's the biggest downside to the strategy that I have, which is taking profit quickly. There's other traders out there that they wouldn't take profits. When they're up, you know, 15 or 20 cents, they'll hold it and look for that bigger winner.

But what's gonna happen is that a number of those times the stock will come back down to break-even and it'll end up being a loser. so their accuracy will be lower. just like BS P.m. I could have sold this trade where I got in at 85 I could have sold it as it popped up to 320 I was up 25 30 cents.

you know I could have sold it and taken profit and I didn't I held for the bigger move. As a result, my accuracy is gonna decrease a little bit because of that choice. There's a lot of traders who trade like that. in general.

they don't take profit when they're up 20 cents because they're looking for 50 cents or 75 cents per share. So they're going to have higher profit loss ratios and lower percentages of success. So you know you start to have to decide what type of trader do you want to be I'm the type of trader that I need the confidence boost from being right 70 percent of the time. It makes me feel better.

It makes me feel more comfortable being aggressive taking bigger sides and so I'll sacrifice the profit loss ratio in exchange for that accuracy. And that's kind of the thing we all do this Bs P.m. if it goes too high a day, I will literally cry because I'm gonna be the guy that lost money on despite being up a hundred percent. But that's okay, that's the way it goes.

Tomorrow is another day. I'll have another chance for a winner. There's always another train around the corner. you know another trade coming up.

so I'll be back at it first thing tomorrow. Hopefully you can finish up the week in good shape. I Just want to break the red streak and finish in the but I'm not expecting tomorrow is gonna be a big day. I Think we're still in a choppy market, so you need to manage risk, trade smart, and trying to keep those losses small.

possible. If it ends up being another three or four days of choppiness, then you know that's that's what it is. That's fine. but I need to keep the share size small.

so I don't risk doing something stupid. All right. So that's it for me today. Those of you that want to register for the seminar and the online training workshop that were gonna have on Monday If you check out Facebook or YouTube you'll see the links that are posted there I Don't have the link right now to drop in the chatroom I just don't have it on my computer so but I'll mention I'll remind you guys again on Friday and of course on Monday All right, so that's it for me.

I Hope you guys have a great afternoon and we back at it first thing tomorrow morning. All right. see you guys in the morning! 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 any time I Go live or upload new videos. Until then, happy surfing!.