What's up everyone? All right? So today, second red day in a row this seems to happen to me. I'll have a really nice hot streak 5 10, 15 green days in a row and then I kind of come up against a wall and I'll have a couple of back-to-back red days. Sometimes it's 2 days, sometimes it's 3 days. So today's the second red day in a row down 3,800 bucks.

And you know this morning I was really mindful of saying Ross you got to take it easy today because yes, I lost money yesterday. but we also saw a lot of false breakouts. Now part of the reason I lost money is because I just didn't get filled on a really good setup. So yesterday could have been a $4,000 winner for me, but it wouldn't have changed the fact that we still saw a lot of false breakouts and the one stock that I traded didn't end up holding up at all.

So today I was mindful of that and I said you gotta take it easy but I saw a trade pre-market that I thought looked really good and this is what's challenging and a quality set up in a choppy market automatically as a beat quality setup because remember we are always trading in the context of what's happening in the overall market and I lost sight of that a little bit today. I continue to be. you know, a little aggressive on that first trade and right out of the gates it got slammed back down. It was a gap and go set up I jumped in.

it popped up and boom came right back down and I had to take the loss so took a $6,000 loss on that and then spent the rest of the morning kind of slowly digging myself out of the hole finishing down 3,800 so you know I cut the loss down a little bit which is good and maybe I'll be able to dig a little bit more out tomorrow, but you know I'm still finishing red. so anyways, we're gonna break it all down in today's midday Margaery cap. All right everyone. So finished in the morning here in the red down 3817 bucks.

but overall still green on the week and very green on the month up about 6000 on the week, 70,000 on the month. So having a couple of days here of chop is to be expected. It's really just about minimizing the losses and trying to keep those pull backs as small as possible. So yesterday I was down 1500 this morning I knew I was gonna have to be a little bit careful but the the stock I was watching pre market was DXR and I really thought this one looked pretty good I mean it was strong from a move from 8 up to 10:50 up 30% Nice Gap Headlines: A little pullback here excuse me pre market with a high of 75 So my setup on this type of trade is I usually prefer to get a little bit of a pullback I like to see these drop down and then I get in as they pop it back up.

That didn't really happen. We opened at 10:40 we dip to 10 39 and as we started to curl up I jumped in for the break over the half dollar of 10:50 So I got into this here I'll just bring this up here with 7,500 shares but I got kind of a bad fill I was using my hotkeys and so I ended up getting filled at 58, 63 and 69. it pops up to 70. It was like 80 and then it started to drop and so I tried to sell half I only filled 1100 shares I tried to sell more on the ass trying to kind of scale out I really wasn't able to and in this candle it dropped down to $10 So at that point I was like okay, well obviously that's a quick drop I'm gonna give this a second to see if it'll do a red to green move.

so sometimes what they do is they pop up, they pull back for a couple of candles and then they surge right back up through the open. So I was like I'm gonna ride this out I'm gonna give it a second and so that was right here and then it dropped down to 975. I didn't like that it popped up to 1020 and then right here I finally said nope I gotta bail out and so I sold a 10-7 1070 right here and 1075 so that you know that's a $6,000 loss I mean that's a big loss and it's disappointing I was trading a little bit of a higher price stock. over $10 is always a little bit riskier, you know? but just as easily this thing could have gone to 15 bucks.

So I think the the thing that I knew I had to be careful today because yesterday we saw a lot of false breakouts and so I was thinking all right I should be careful but pre-market I really thought this looked great I mean this looked to me like a really good quality setup and you know I just ended up getting stopped out and it didn't work. So I guess I would just chalk that up to the 25 30 percent of the time that I'm not right. You know my accuracy is between 70 and 75 percent right now and sometimes everything looks good and you take the train and it just doesn't work. and it's It's not really any fault of your own, it's just the way the strategy is.

There's no strategy. That's right, 100% of the time. So today's a day where I took a little bit of a loss and that's fine for me. The losses are bigger just simply because I trade with a larger size.

You know, larger dollar amounts. That's why I'm up seventy thousand dollars on the month right now. It's why I'm up two hundred and nineteen thousand dollars already this year dentally. April So when you trade with big size, your winners are big.

but you're losers are big and you know it's one of those things. If you can't handle the losses, you shouldn't be trading with that type of size. I can handle these losses. It's not a big deal.

I'm not. I really I don't I'm not upset today at all because I've had a great week, a great month, and I know that I'll get it back and that trading with this type of size if that had worked, would have been 7/8 $10,000 winner. So you know it's just what comes with a territory, so you got to be able to kind of compartmentalize that. put it away.

I'm not stress on it and and that's again. as long as you know that you have metrics that are sustainable, you've got a good you know, profit loss ratio and all that stuff, Then you can have faith in your system, faith in your strategy. You don't get stressed. So again, you know my trader view stats here.

This is: I've been importing trades here since 2016, so you know, obviously you know a lot of trades in here $850,000 2,000 trades. but over all of those trades my accuracy is 71% right? So you know that's what kind of gives me the faith that sure there's gonna be Red Day's largest loss is $12,000 loss, biggest winner: 31,000 There's gonna be some extremes, some big winners, some big losers, and then there's just a lot of stuff in between. That's just kind of part of the deal. So today, so a little bit of a red Day, but it was just one trade, one trade that got me down and then I took a couple others that helped me get back.

you know, a little bit out of the hole. So next trade was OPG em. now this one I was a little skeptical of as well. And here's the problem.

when the bell rings and the two stocks you're watching both like kind of tanked. It's not good and so that's what happened on OPG and it popped up and then it rolled over hard. it started to curl back up and I got in it right here at the half dollar. ended up popping up all the way to a high of 79.

I was in right here at 250 and right through this area of kind of a little bit of congestion. It was just sort of like choppy right there. I started scaling out because I felt like I maybe had too much risk on the table and it just wasn't gonna work. and then of course it ends up popping on this one candle all the way up to 280.

So look at the draw there. I Sold most of it in this area first, but made some money on that I Ended up getting back in for the first 5-minute candle to make a new high which was right here and it popped up only to 71 and then roll / so I made 1200 or 1300 and then I gave back about 600. So no big deal there. One winner, one loser still green on the name.

next. once I know si and oh this one kind of a surprise. Just all of a sudden hits the scanners, it squeezes up from about a dollar 15 to a dollar. Thirty I jumped in at a dollar 29, it pops up to a dollar 40.

It pulls back, then squeezes up to a dollar 44. I Sold through this area here at about dollar 40 just didn't really hold up super well. Ten thousand shares and then adding another five thousand. So fifteen thousand, but only eleven hundred dollars of profit.

And that's just the reality of trading these cheaper stocks. They don't have the same range, so a little bit of a winner there. And then last trade of the day was VT VT Out of nowhere it spikes up about I don't know 20% or 30% goes from $2 all the way up to 240 and I jumped in as it was squeezing up at 235, pops up to 243, then hits 246 and I'm selling it. 240 didn't really hold up that well so only made $279 on that.

But you know what's nice is that I was able to recoup about $2,200 today on decent trades. So yeah, I had that one haircut right out of the gates. Five six thousand dollar loss. It is what it is.

and I was able to keep on trading and recoup some of the losses. But really, this wasn't a good day of trading. It wasn't easy. We were seeing a lot of chop and so we're gonna have to be a little careful tomorrow as well.

I don't want to have three red days in a row, right? You know? we're gonna have to really be mindful that maybe we're seeing a little bit of the tide turning. We had an amazing first two and a half weeks of April and if we need to scale back a little bit, trade with smaller positions and reduce risk until things open up again, that's just fine, you know. I'd rather make $70,000 or whatever it is $80,000 in three weeks and then have for days they don't trade it All right? That's better than having four days where you lose 15 grand. So as of right now, I'm down 3,800 today plus 1500 from yesterday.

So I'm down like five grand, you know in the last two days. So I want to try to minimize how much? I'm gonna let that get away from me. So tomorrow a part of me would say don't even bother trading because it's Friday but I will come in and there's certainly a possibility that we'll see some momentum. Last week you guys had FTF tea which gave you that kind of surprise momentum squeeze and that's what sometimes happens on Fridays So right now, basically what we need to see that was from two dollars all the way up to 360.

so we get one of those tomorrow. Boom. That could be a five $10,000 winner just with one trade. which would be awesome.

So you know the thing is, when you start to see the tide turning, you start seeing more false breakouts, more stocks that pop up and they come back down and you have to be a little careful and so what? We want to see our stocks that pop up and then they pull back and then they go for the second leg up. So continuation is what we want to see. and yes, we can scalp the pops, but if we're seeing them getting slammed back down faster and faster and harder and harder, that's gonna start to get a little bit frustrating. and we don't want to.

You know, get our accounts chopped up so you can see here like this is what we would call a very strong rejection. It pops up and then all the way back down that's actually a bearish engulfing candle which I'll take a screenshot for the classes because that's a decent example of it. So it's It's when right out of the gates you know you have a candle that's more red than the previous one who's green. So I'll just grab a screenshot there and so that's obviously a rejection.

CHC I someone called that one out in the room. This one kind of a rejection here as well. didn't have a lot of volume. V T VT Didn't hold up at all.

Rejection: DX are obviously hard rejection. This is an ugly gap. I Mean it gapped up and it fell. It's filling the gap all the way back down.

so that's you know that doesn't look really good for momentum. so it may take us a couple of days to kind of clean the slate and reset, refresh, and then what will end up happening is a stock. Whether it's tomorrow or Monday or Tuesday will pop up and early. Short sellers who have been making money on these are gonna short it and then next thing you know it's gonna keep going higher and they're gonna cover it and more traders are gonna go in and boom, you got a stock that's gonna go from $2 to $6 and that gets the momentum going again.

So these are the cycles, the ebb and the flow. and after those false breakouts yesterday and again today, we're definitely gonna have to be a little bit careful here for the next couple days. What I'm gonna do is I'm gonna I'm gonna reduce my share size down to I'm gonna put it at 10,000 shares for right now just just for Friday just trying to finish up the week with a couple scalps. If I make 500 500 bucks that that would be great I just don't want to push it, push it too hard so maybe I'll actually set it it well.

Well I'll leave it at this for right now and we'll see. Obviously we'll see how things look tomorrow. But remember you know tomorrow is in the context of what has the week been like. Has it been a strong week or a little bit choppy? and what we know is that the week was good, but the last couple days have been choppy.

So even if you do see what looks like an A quality set up like DX are you can't lose sight of the fact that it's still in the context of you know, what was the market like today or over the last couple days. So anyways, that's it for me I Hope you guys have a great afternoon and we'll be back at first thing tomorrow morning 9:00 9:15 for pre market analysis. Alright see you guys in the morning 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.

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