What's up everyone? Alright, so today's the right day recap. Unfortunately, I'm not happy about it, you know girl down here. she's not happy about it. No one's happy about it, but it's you know, the life of a trader.

Ups and downs. Easy come easy go. Yeah, and you know it's it's it's it's been a crazy month, you know. I had a good good stretch in the middle and I had a great February so you know I had this I tallied up about forty four thousand dollars in profit during the first month of the market crash and the coronavirus really hitting the market.

but the way it kind of that was from February going into March and where I'm sitting right now March started rough and then was really good in the middle except for some over trading I didn't pay a big price on the over trading it. it didn't really cost me a lot I had a couple days I gave back profit but other than that none of those days were big big red and then yesterday I had a red trade on BL pH in the first minute of the day just bought for the breakout loss of dollar share dollar fifty a share. So today I was like my first goal is to not hit my max loss in one trade which I didn't have happen which is good but V V us was the one I was watching and I hesitated to jump in it at four right out of the gates because of what happened yesterday on. BL pH now V V us different stock, different price range and broke for and ripped up to 425 430 it would have been in the media 25 30 cent winner and I was immediately like shoot I should have taken that trade so it pulled back for a second I got in there for the break of 35 it failed I took too much sighs so on my first trade I was down like 2 grand at least 2 grand I didn't see my P&L but I know it was a good loss.

he might have been more and so then I was like alright we'll have so now I'm read already but not to the max loss. it curls back up I get back in again with big sighs. it rips up to 450 and I'm holding full size and I'm like picture perfect. it hits 50, it pulls back to 47 48 I'm like you know what? I'm gonna sell half I sold half, it pulled back down to like the 30s it curled back up to 45 47 I added back and I added back more than half.

So I went to full plus some and I'll break it down in the recap but it didn't break for 50. the thing hit for 50 and then in basically one candle I've got my charts up here dropped back to like 380 just like a 60 cent drop to 70 cent drop and now I'm holding full size to this huge drug and so just like that I know I'm deep in the ground. Next trade I've had a couple really small trades, nothing exciting and then s GPX pops up right now it's at $12 after hours I traded it from 5:30 up to 6:30 made $1 a share. Perfect.

It was picture-perfect Let's see, let me just pull back this chart here and yeah, it hit a high of 624 so it wasn't quite a dollar but close to it. Then it dips down for a second and they thought it was gonna curl back up over 6. I added back and then lost like a dollar. 50 a share.

gave back everything I made on it and then doubled my loss on the deck. So Ii read de recap and then of course is frustrated CSG BX it You know the thing is it hit a high of 624, came all the way back down to 326 326 de. then at 120 it ripped through view app hit 540 micro pullback, broke, hit a high of 590, then ripped up into the close to 10 and then after hours up to 1275. So you know it's not that we didn't see momentum today VV us wasn't great, but Sgp X was good.

it's just that the morning wasn't easy I don't usually trade in the afternoons and this is one of those days where I'm like man should I have been you know and I had things I was doing this afternoon but should I have been, trading through the whole day? You know it's only when I'm read that I start to ask myself that question because I feel like boy I could have made back a little money if I kept reading and when I'm green I'm always happy with what I've got. So you know I've said that a million times. the traders who trade through the whole day. a lot of times their traders who are trying to compensate and make back or get themselves whole from a big loss at some point and so trading can be erratic.

It can be emotional and you can profit from that, but if you fall victim to it, you can double triple or quadruple. Your loss is an afternoon training. So tomorrow is a new month, new month and I'll put March behind me and you know it's for all of us. Kind of an opportunity to sort of press the reset button.

you know you obviously carry with you some you might even carry some positions with you from March but you carry with you some of the baggage. What was good and what was bad what's been working, what's not been working at the same time. It's nice if you can take it as an opportunity to do something maybe a little different if you found that you've had a little bit of a problem in one area. So as I get into the recap, I'll talk about maybe a little bit of what I feel like I struggled with in March and what I think I could do in April to help smooth that out a little bit.

So you know for those of you guys that just tuned in for this, that's where I'm at today. and I'm gonna dive into the recap and kind of break down details of these trades. Alright, so let's get into it all right everyone. So um, we're gonna get into this recap here.

The big reveal I already know I already know how bad it is. so here we go. Oh Oh yeah Wow All right so this is where I'm at. So what did I do wrong today? I'm gonna Chronicle where things went off the rails I hope this helps some of you I'm not doing this for me.

it doesn't doesn't help me to keep talking about a terrible day I don't know. maybe it does. These aren't fun days to do I don't like doing red day recaps. Nobody likes doing a red day recap.

No one likes getting you know, assault in an open wound that's obviously. but I do it cuz they said I would do it every day I do a recap every day and today's just today's a day. So I do it. My first loss was on V V us.

so why don't we look at that one first? I'm gonna pull my scanners up here. let's see. So V V us was at the top of the scans this morning. it was gapping up 300% and you know it's really.

Honestly, you know I of course I'm biased because I traded it and lost on it but it's really interesting to me this huge move pre-market from a dollar up to 2 to 3 to 4 to 5 to 460 470 I thought Bell was gonna ring and we were gonna break over these highs Now it did sell off a little more than I wanted at the open and so what? I did. My very first thought on this was to go long it for and I I passed on that train I thought maybe it was too risky and that's because of my loss yesterday on BL pH so I carried that baggage with me and look at that break from 4 up to 435. so I was like ah man missed it but I got in right here. that was my first oops.

so my first entry as it was coming back up right here was this spot here. now on the one-minute what I saw at that moment was first one me, two camel to make a new I Okay so first one minute candled making new high and this morning I for some stupid reason increase my share size on V V us to 3000 shares I guess I was like oh it's a little cheaper I'll just put three thousand shares that way if I press it three times I'll have nine thousand shares but I clicked the Buy button four times so just like that, I'm up with twelve thousand shares and I was like you know honestly I really thought this was gonna work and I thought I was gonna rip through 30 and squeeze to the high and I thought we would tap the half dollar right here and I was I really had 99% conviction in this I felt really strongly on this trade I was right here and I didn't take it I felt good about this I took it and then in this candle I dropped down to 370 estoppel 390 which was obviously a good sized loss. Looks like about 20 cents on 12,000 shares. so I got 2500 dollar loss.

it came back up and I got back in right about here. so I got back in right here with 15,000 shares. Now this time I was being a little revenge full and I was like you know, screw this stock I'm getting back in and I'm gonna show it who's boss so I got back in here I think it was weird see it was 16 I started at 10 and added at 25 at it at 30 and this thing ripped up. Oh no, it wasn't here.

sorry it was this one right here so let's see so right here. I guess I must have bought in this candle. it pulled back for a second here and then I added for this break right here and it hit a high of 55 I took a little profit off the table I sold half seven thousand shares. so seven thousand shares from twenty to fifty? that's two thousand bucks and I'm still holding seven thousand and then I added back right here for the break over 450 again.

I was looking at this I'm like it looks close to 470. it's gonna rip to 470, squeeze up to five and I was totally wrong. So then I stopped out with full-size of I guess fifteen thousand shares it must have been or maybe it might have even been seventeen as it broke down right here. So this is where I was like nope I got a bailout but I just added up here got slippage on this candle and just like that was down five grand on V V us I knew it was a I knew I was in bad shape and I was.

you know I was like okay that that was a bad one. but let's you know, let's see if maybe there'll be some other opportunities and so let's see that trend line. So Sgb X this one I also hesitated on on the first trade I didn't take this first trade right here I had it on my level two I literally had it on the level two. It started to break right here 27 and I was like as it was squeezing up right here.

I was like Ross don't chase it, you missed the entry. You don't chase it, you missed it. You know it's it's gone. it's gone without you.

Wait for the resumption on the hall. so I didn't chase it. It squeezes all the way up to 90. It gets halted, it resumes.

it dips down. I actually bought right around five I press the order probably three times for six thousand shares I only filled 3,500 it pops up here to six I sold it all over six. It pulls back right here and then I added back right like basically like right in here it dipped down as you can see to a low 560 if that came back up and I added at six looking for the break over the high I really I again I was being a little overly aggressive, probably compensating trying to make back some of the loss I just had on V V us clearly this thing was moving fast and then now I'm in. was at six dollars with full-size and it flushes here to five sixteen I held it, gave it a second and then stopped out on this drop here at five seventy.

just brutal. really terrible. So with that I knew I was red on the day and I didn't know by how much but I knew I was red I emailed Rob at Lightspeed I said increased my max loss to fifteen grand So I don't have a pair of scissors nearby I don't know I know I'm due for a haircut on on that rule break I'll do a haircut when I get back to the house so you guys you'll see tomorrow wherever I'm at here, that's that's about two handfuls right there so that last couple inches is gonna go. I Just I was so frustrated and you know I mean it's like when you're frustrated, you shouldn't you? you should.

That's the last thing you should do and in this case I just I was like screw it you know I'm it's I was just like no I am NOT gonna allow myself on the last dang day of the month to give back this much money. This is ridiculous I I will find something else to trade and as you can see, I traded s Fe T that was a loss I traded Vivi us that was a loss I traded t HMO for 60 bucks and then I traded this TR VI So I basically made nothing on those four trades. they're all Val cancel each other out and if I had just stuck with this I would have been at least following my rules. Know when I've had to get a haircut so you know it's like what? So where do things go off the rails today? um I Came in obviously having just had a red day yesterday and I said I don't want to hit my max loss in one trade So then why did I take 12 thousand shares on my first trade? you know I that's where I just set myself up immediately for failure because yeah, obviously I I know I had high conviction in the trade but if they had, if anything had worked, I guess I would have made 2,400 bucks in the first trade and I would have been like hey, nice work but you know you have to plan for the worst.

Prepare for the best plan for the worst I would out, whatever it is, hope for the best plan for the worst. prepare floors and I wasn't planned or prepared for the worst because the worst-case scenario was instantly potentially losing three to five thousand dollars on a huge position like that. So I think and I don't I don't even want to do this. but I'm gonna do it.

So I've got my max share size right now 20,000 shares I'm gonna put it tomorrow at six thousand shares I hate doing that I hate doing it because I feel like when I do that tomorrow, there's gonna be something that rips like crazy and I'm not able to maximize on it. but at this point, that's my own fault. I can't afford to maximise on it because I just had to read days. Good-sized read days and I need to start digging myself out of this hole.

Tomorrow's the first day of the new month, so you know this month of March will close I'm green on the month I'll see where it all settles but it's not been the month I hoped it would be by any means. so we're going into the fresh month although I'm technically carrying an eighteen thousand dollar loss and lure 1516 in the last two days I'd Rather rather than try to carry that into April What I really should do is say hey, it's a new month, New month, New you. How do we start the new month strong? Let's start with small share size so when you're first trained you don't lose five grand. I mean not to say you couldn't lose five grams 6,000 shares but I'm gonna just set this for tomorrow I'll keep my P&L turned off as I had today so I'll just I have to remember to save this layout.

but yeah, so that was my first mistake I took wait I took too much size and I knew it immediately I anything is the way I trade and you know by clicking the Buy button it's become kind of habitual that I'll press it multiple times and you could say well, Russ why don't you just press the full size I don't know I I just this is how I've done it for a long time and so anyways I this is what I'm used to. so I did that and then you know clicked it one, two, three or four times. it was ripping on the level - it looked good and I just had my eyes set on profit and potential and not on risk. So this was my own mistake and he kind of screwed me for the rest of the day because then I was in too deep, took a big loss, tried to rebound on the next trades instead of maybe taking my profit and then stopping out break-even I was aggressive and added back.

you know, honestly on V V us I'm not sure that I really super regret any of my trades. You know if I saw those same setups tomorrow, how would I trade them? That's a good question you know, sometimes ask yourself and realistically, I would still want to take that break of four I probably still would've bought the first 1 minute count. make a new high down at 4:20 I probably still would have gotten back in here for the break over 4:30 and I might have still added their 450 but with smaller share size I wouldn't have felt as emotional when it stopped when it started to not work. That's the difference with 12,000 shares.

All of a sudden, I'm like oh, God because I know I can't I can't just hit the bed and bail out 12,000 shares at the at the least if I hit the bid with a market order for 12,000 I'll get 3 maybe for two or 3 cents of slippage on the stock like this. 55 million shares I might get a couple cents of slippage. so you've got to be sure when you're getting out because it will be a loss. and when it suddenly drops down 10 cents, you're like ooh, I don't really want to hit the bed because it's gonna be another five cents of slippage.

maybe. Let me give it a second to pop out up now it's down 2000. Selling is increasing well I don't really want to sell on the bottom of this dip. Let me see if it pops back up.

So none of that happens when you have smaller share size. and this is of course part of the you know part of the deal with trading that you and I Generally speaking, most people try to increase share size and increase the daily goals and you think generally that if you've got, you know, whatever that this is the curve right here. From trading with that, you can't see this is worthless. You can't see a thing so that the curve is linear.

It just is straight up from a thousand from a hundred shares to 200 to 400, to 800, to 16 to 32 to 64 to 13. You know it's just your profits are linear and what really happens is that the profits are linear up until a certain point. And that point is depending on a couple different things. It depends one on the market because some stocks you cannot just have linear growth without starting to have liquidity issue that then starts to taper and even go down.

If I was trying to date trade with like 30,000 shares on every trade, my slippage going in and out I probably lose 10 cents on every trade so that's $3,000 per trade right? So maybe on that side up yet profits going down for my strategy and then for other situations. It's where the emotions start to kick in to the point where you're no longer really following the rules of the strategy and it is so easy after a big loss to try to come back with big share size. I told myself not to do it and I did it anyways and it I mean this happened within all within a second that I was in with that much size. So you know it can happen very quickly and so that's why it's so important if you notice about yourself to put these restrictions on your account.

And it's frustrating for me because it's like I know this about myself and yet I don't put the restrictions on the account because I don't like the feeling of being restricted because that means that like you know, I have once I put the restriction on the account I have no chance at hitting a home run basically and I hate that feeling and it's it's a problem I mean I'm not gonna say it's not a problem. What's interesting is that my biggest challenges with with trading and this is probably true with a lot of people are not strategy based. it's discipline and rule based. It's that I you know I have a set of rules and then I'm like oh, these are the rules Okay now what? I just throw them at they're gone.

You know it's like I I have rules and then I choose not to follow them. So why do I do that? I have so much respect for my students and even those of you guys on YouTube some of my students I know will make more money than me you know in their lifetime because they're they're better at following the rules than I am and and we'll take the same trade side-by-side and Here I am. You know they're following the rules of the strategy, they're walking away with profit and on some of those trades I have just totally botched the whole thing. when in I didn't get a good entry then I you know I got a good entry but then I held it too long I didn't sell it or other cases like with Vivi us.

Those entries were all good for for breakouts and we got a breakout on one of them. a small one here - and a nice one here. and then this one just didn't happen to work. It's the it's just the holding the loss too long.

That's a problem. So the best thing is bringing share size down. six thousand shares is not small. That's still pretty good size.

but for me right now I think that's good. I could bring it further down but I'm just gonna leave it at that for now. If I can have a green day tomorrow that would be terrific. That would be great for the first day of the new month.

and you know, gives me a chance to kind of press the reset button and have a green day with small size and start sort of focusing on the month of April. So given the fact that today you know I and I think that this is it's again a process of self awareness. For those of you guys that you know, watch our tuning in to these videos. My first two years you know I was making mistakes not like some sometimes like this but different but it took me such a long time to develop a sense of awareness about it.

You know I would have days where I've lost money but I wouldn't I just wasn't able to really connect the dots. So you know here I'm at a place where it's like okay Ross you know should you make should I make a rule? well I follow it as always the question. but should I make a rule that you know in my trading that after you know a red day of X amount I you know size down on day two and the thing that's so hard is the feeling of I'm gonna miss an opportunity and it's like well, yeah, maybe, but that's that's the price you pay. You know it's This is what happens when you have a big loss.

For whatever reason, you've got to just have the couple days to kind of reset before you're really back to normal. So I wasn't I clearly was not fully mentally recovered from the loss yesterday. My trading, the hesitation on the first trade, and then the aggressiveness on the second trade complete indicators that I was not recovered from the loss yesterday. So losing more than 6,000 clearly threw me off, threw me off.

It's not that it's a lot of money for me, but they clearly threw me off my center so well. now tomorrow is gonna be even worse because now I'm down 15 or 17 or whatever it is. So I have to get ahead of that and put myself a little bit in. you know, even if it's just a one day rehab whatever you want to call it and just throttle back So I can have a couple days of just trading with a less emotional kind of pressure so that would probably be a good rule for me to implement and whether or not I'll have the presence of mind on the next day.

But on the other hand, I could say well, this is my goal for April You know for April my goal is if I have a red day of more than X amount the next day I'll sighs down to you know six K-max share sighs. So what's what's the loss? Anything more than I've grande I mean I Honestly had a couple days last month where I was only down like 2,000 her class in March where I was only down 2,000 but then the next day I was really pretty frustrated. So perhaps it's after any red day. red day of X amount any amount you know.

The only thing there of course is that that feeling of being you know holding myself back. It's a tough one. You want to make as much as you can and capitalize on the opportunities as much as you can. So that could be a goal for April though.

and I could try it for one month and see how it works. Second goal is no P&L for the whole month. It today didn't really help a lot because I was just like well I'm super red. no there's no question about it.

I'm super red you know So it didn't really do a lot of good I mean I don't know I know I knew I never went green and I just immediately was going red. So I don't think it her to not see it I don't know if it helped to not see it I just knew it was a bad day I think that technique helps more on the Green Day's with giving back profit and with making sure I don't get too aggressive on the red days it I knew I was down I shouldn't have increased my max loss I did that frustration and as a result you know my loss got bigger. well actually not that much but in any case it could have so it still wasn't a good decision. So April after a red day of X amount size down no P&L for the whole month you know am I willing to commit to it for one month commit to these rules.

it's a test Sure I could do that. Is there anything I want to say about price range? you know cuz this is a thing like BL pH above above that price range I've been to one the 18 20 dollar level man I just don't know. These ones are so tricky when they get to that price range. AHP I see Odx the spreads get bigger and if you take a break out trade and you're wrong, you know you're looking at to three to two dollars a share loss.

potentially sometimes even more when they're up in the 20s and 30s so that you know that's where I that's kind of where I went off the rails to the beginning of this red streak was a surprise punched in the face from a twenty dollar stock that I really should have been much more careful on. So you know if I just said well I'm not gonna trade over 20 the only problem there or over 10 or whatever you want to say. The only problem is no doubt I would feel like I'm Let's say tomorrow s Gbx opens it 18 and is like man this thing is seriously looking strong to rip and it rips. Let's just say it opens at 18 and rips like 30 bucks I would I would be so out of so much foam I'd be so upset at myself for you know having this rule and then missing the tray I don't know I'm curious about what you guys think of trading over $10 stocks I even and I'll say today I did look at Royal Caribbean I looked at Royal Caribbean and I have I was like half looking at taking a trade on it and I said you know what, don't don't don't don't don't do this is a $35 stock What are you gonna make? seriously what are you gonna make I was looking at going short right right here of the stop at 35 it looked like a good short and as it curled back up and looked like it was gonna break 35 I was like well actually maybe I should go along and I was like you know what this is so stupid what you gonna do Take 3,000 shares that's 90 grand in the stock.

what? are you gonna make Six hundred bucks, it's not worth it. Hit It went up 65 cents and then in this next candle dropped all the way to 34. So I was really glad I steered clear of it I'm not saying that there's not opportunity in high-priced stocks, it's just reward. Where are the risk/reward ratios the best? Where is the consistency and accuracy? The best.

and generally for me that's been more in the lower price than in some of these higher price names. So I don't know I've got some thinking to do but tomorrow I'll try to just come in, hit a couple nice trades in the first few minutes. first 30 minutes do everything possible not to give myself get myself in a situation with big loss and you know as GPX another one of those ones that make you question man, should I be watching in the afternoon but for every one of those I just I have not found myself to be able to do particularly well it through afternoon trading I always seem to have a hard time although perhaps not showing the PNL would maybe allow me to be more focused, but I can't do that tomorrow tomorrow as part of cleaning, clearing the slate I need to come in, take couple trades and then all right. So um, that's that's about.

That's about where I'm at here. I'm gonna call it a day at six o'clock so I'll see you all first thing tomorrow morning. New day, New Month New Me: Sort of. All right.

I'll see you guys then. hey, did you know that? I Go live every single morning between 9:00 and 9:15 to stream my pre-market watch list Subscribe to channel. Press the bell for the alert and you'll get the notification.