Hey, everyone all right? Well, uh, we're gonna do a recap here of my trades from today. Uh, today is day one of me trying to kind of rebound after the worst week I've ever had down over three hundred thousand dollars on the week I lost starting on Monday. like a hundred and twenty seven thousand on Gamestop. And you know, the losses.

Just, um, continue to snowball. So I'm sure that many others can relate to this experience. I am. I'm gonna talk today in this episode about the path forward.

Uh, there's only one path forward and it's to rebuild my account, recover the losses, and you know, get it back. But there's different ways to do that And there's what you could say are the right ways to do it. Uh, ways that are sustainable. And then there would be probably the wrong ways to do it.

which would be to throw Hail Mary passes to try to get a a quick, you know, lucky high risk type of winner. Because maybe it could bail me out, you know, in one day. But realistically, that's not likely to happen. and if I try to swing for something like that, I'm much more likely to end up digging the hole even deeper.

So you know right now I'm in a place where I'm you know, I've had now. the biggest draw drawdown that I've ever had in my entire career as trader. I'm very fortunate that I had a a good week last week. Last week I was up about 900 000.

Um, so I am green on the year which is good, but it doesn't change the fact that I've lost 300 000 off the top. It's a huge loss to take. So what I actually want to do here? I'm going to put up the full screen. Um, so you guys can see this.

Uh, it's definitely an obscene amount of money to lose. It's there's There's no way around that. So I want to talk about the game plan of of recovery. Today today was day one, now.

Um, this was, uh, I actually traded today in in, uh, my two accounts. So I'm up 11 397.90 in my one account and I'm down 1 961.87 in the other. Which gives me a net profit of about you know, 9 000 on the day. Um, all in all, that's a that's a that's a good day.

And I wasn't even sure I wanted to trade today because I knew that I would be. Well, you know, after having such a terrible day yesterday, I yesterday was when I cut my losses and was down about 275 000 just on the day. And so I knew that coming in today would be hard and I I was sort of like, you know, is it even worth it? What's even what's even the point? I mean, if I if I make even ten thousand dollars today, I'm gonna need 27 more days in a row. Just like that.

30 days in a row. Just like that to get back to whole. So uh, I sort of am asking myself this question. um which I think maybe is helpful for you guys to ask and again, those you guys tuning in on Facebook and Youtube.

I'm doing this as a live broadcast so I can answer questions that you guys may, um, you know, may throw out. So uh, I do see. Um, you know I. I do see the comments that you guys are making and those that maybe watch this later.

If you do post a comment, uh, I can, I'll come back and answer. uh, the comments. I'm usually pretty good about that. So I have to import my trades from yesterday, which I'm going to do right now.

so then we can actually look at it as as a graph which is going to just basically be a line that goes straight down. But in any case, we'll do it because that's what we do here. I always, you know, I show you my winners and my losers. Uh, this is just a particularly painful loss to have to show you guys.

So what I've been thinking about, the question I've been kind of asking myself, is what is all this for You know, what is, what is, even what's even the point? What's what's the purpose of trading? Why Why do we do this? You know. And I think it's important because sometimes we can lose sight of why we're actually here. Uh, you know the the obvious answer is, I'm here to make money. Okay, well, you know.

But what is that money for? What is the goal you know is it to make 200 a day? So you can, you know, pay some bills and pay for groceries? Is it to make 2 000 a day? Is it to make enough money to put a down payment on a new house? Is it to make enough money to pay off student loans? You know what's the actual goal? Because I think sometimes when you don't have an actual something, you're stretching for and you're reaching for, it just kind of puts you in this mindset of constantly reaching and then therefore not being satisfied when you might have something that's actually quite. um, you know, quite significant. I had some amazing gains last week, and you know I didn't Really, I, I guess I, I just didn't. Um, hold on to them in the way that I could have.

I was just reaching for more. and more. and more. And something that I'm finding for myself is that trading has become quite an emotional rollercoaster, especially in the last year for me.

Uh, and I think that, well, you know. last year was a good year for me for sure. And it was so so, so much better than any year I'd previously had that I was like, I don't I can't even set a goal for this year. What do I? What do I even possibly set as my goal for this year? I mean, I made Five million dollars last year.

Do I set it at a million? Do I set it at 5 million? Do I set it at 10 million? I don't even know what to set it at. So I'm in this place right now where I don't really have something that I'm striving for. I don't really have something that's kind of my my goal. I don't really, In a way I've sort of lost touch with why I'm I'm doing it.

And as a result, days like today where I'm up. seven, Eight thousand, Nine thousand, Whatever it is, Um, eleven thousand in this account, I just have the feeling of, well, that's not a very good day because every day is kind of in context of, um, my best day of all time. My best day of all time is 500, 000, 478. I'm rounding up, but let's just say 500..

So my best day of all time is 500. So it's like for me to feel kind of good. Um, I guess I'm stretching and striving for these big, um, record days. and I think that something that a lot of traders struggle with is the impending fear of, you know, the winter is coming.

I use this analogy of you know, we're all chipmunks, squirrels, whatever and we're hoarding away our winners because we know that we have these short little opportunities. You know trading is. we have these cycles in the market. So we have these short little opportunities essentially to make as much as we possibly can.

which is summer so to speak. and then things slow down and that's winter and everything that you made has to tide you over. And so it's kind of this insatiable feeding frenzy that occurs just to try to, you know, make as much as you can before that window closes. And I think on Gme, what we've seen this last week and what we've seen in general in the market is a pretty incredible amount of desperation, desperation for a big win as it was going up, and people buying higher and higher and higher and higher.

And then desperation and pain is it's dropping the prayer of it may be coming back to break even, But then it gets worse and worse. and worse. And so the problem is that we're in a market right now where this desperation is fueling some really erratic behavior, where we're seeing stocks basically go like straight up and then right back down. You know we saw it.

Obviously, you know on Gme, No question about it when we look at this daily chart. Um, you know from 45 45 to just under 500 here and then back down to 60.. But intraday. Let's look at intraday.

some of the trades from today. Um, Amme. Look at this from 4 to 14, back down to 8.. and then all of a sudden, back up here to 16 and then back down to 13..

let's look at um ar ec Arec this morning from 4 to nine, back to five, Back to six. Let's look at Lai X from uh, six to eleven and then back down to seven. So this is all speaking to that desperation that's in the market. This is Fomo.

Momo. Fomo. Momo is when the momentum is caused by emotions. Now Fomo in the market, the fear of missing out creates these irrational moves.

these crazy stupid moves, which you know there's a way to capitalize on Fomo. Uh, which is to buy the stocks moving up and sell them higher. And then there's falling victim to vote to Fomo and actually just being another person chasing it and then buying way too high and then stopping out as it drops. And you know, falling into this terrible cycle.

So for me, um, what I'm struggling with a little bit right now is how many different stocks are moving, but how choppy the price action net is. Br Bqrs was another one today. uh, sorry, and I traded it in this account. Um, I was down on it.

2000 Bsqr Bsqr? Yeah, no. perfect example. I mean from 350 to 850, then back down to six. I mean, it went a little bit higher there, but this type of stuff is so difficult to trade when you have.

at least for me, when you have 15 different stocks kind of all moving at the same time, it's really hard to know which one is the right one to focus on. So my, my feeling right now is if I honestly ask myself out of the last, you know, the last 10 days while I've had some, uh, some pretty good days, this is where I sit this week: 94 000 on Monday Green on Tuesday Wednesday and then read yesterday 268 was the final count. So I'm down over 300 grand here on the month. Um, if I pull up this, this is where I sit right now.

So from down a hundred, twenty thousand hundred, thirty thousand on the year, to up eight hundred and sixty six thousand, and then now back to five fifty. Uh, you know. On the one hand, I don't have a lot to complain about because I'm still up five hundred thousand dollars trading on the year. But on the other hand, I'm certainly disappointed in this last week, and I can't help but feel that if I asked myself over the last 10 days, how many of these days was I really emotionally solid? Was I grounded? Was I trading? Not from desperation? not from Fomo, but truly from a place of being calm, cool, collected? Yes.

aggressively capitalizing on the opportunities in front of me, but not, uh, overstaying my welcome and not falling victim to those emotions of just chasing. And to be honest, I haven't had a good day and weeks. From an emotional perspective, My days last week I had several days that were just not great at all. None of my days this week have been particularly good.

so I was asking myself, what would it? What would it look like if as a trader now and again? For those watching this that are have been holding game stop and you know it's like a different type of trade Or it's been an investment. It's been a big loss. I think you've probably no doubt discovered that there is. Uh, there's certainly opportunity in the market to make money.

You may have been up quite a bit on Gamestop before it came back down, And so for some of you who are kind of getting the taste of the potential, you may be thinking, all right, what's next, What? what? Maybe I'm moving on from Gamestop and I'm gonna look, look for something else. Or maybe you're gonna hold Gamestop. You can do whatever you do. I'm not in it right now, but you know, let's just say you're thinking all right.

how do I start rebuilding the account And so to be a successful trader, you've got to have a strategy. You've got to have a set of rules that you follow. And for me, I'm a Momentum trader. So I buy stocks moving higher and and then sell them higher.

So I buy high sell higher. That's my strategy. It's been my strategy for forever and this is a market where things have been going so crazy that I feel like I've kind of just gotten into buying anything moving up and then just riding it as it keeps ripping. which while that worked last week really well.

Um, that generally speaking is not a really great strategy because it it has a significant absence of risk management, which is when you buy something that's already up 100, you know your downside is big. So I've been, I've been asking myself what would it look like uh, today and in the next week if as I'm trading rather than kind of keeping a score goal to scoreboard of how much money I'm making on each trade. if I can keep some type of scoreboard of how emotionally fueled I'm feeling, because I think that if I can get myself out of this kind of Fomo desperation kind of cycle that I'm in, I can get back to focusing on being calm, cool, collected, waiting for good quality setups and we had a couple really good ones today. Um, ar Ec.

Let's see, this was a um let me look at, let me show you the one minute chart on this. So ar ec this right here. This is what I'm talking about that right. There was a great entry right there First one minute can't make a new high That is fantastic.

What's not fantastic is when you fomo in you know, way up high or or higher and I would also um, you know. sort of. Take this moment to clarify that when you see me have these big swings in my account, these are not a failure in the strategy. These are a failure in my ability to follow the rules of the strategy.

It's an emotional struggle and that's very human trading. The markets is an extremely challenging thing because every day while you're trading you're struggling with emotions. The the big ups, the big downs, they bring out the emotions in us. We just that's a simple matter of fact and so finding a way to capitalize on the volatility of the market and a move like that from this was 705 all the way up to 929.

This is a fantastic setup, but unfortunately what would happen for most traders is they get in here and then they sell the whole thing right here, then it goes up and then they're like oh shoot, well I guess I'll add back here, they sell here, then they add back here and they sell the whole thing back down here. and somehow this stock went from, you know, 650 to 9 and you're the guy that lost money on it. How many people can relate to that and that comes from ultimately giving in to Fomo at the top? You know you see it going higher and higher and higher and higher. And instead of having the discipline to sit and wait for the next entry or perhaps just wait for the next stock, you fomo into it.

and again. The the biggest uh problem is that in some markets like last week, you could fomo long in almost anything and make money. So sometimes not following the strategy will actually be profitable, not following the rules of the strategy. And that's where trading is so difficult because you can get a positive reinforcement for bad behavior and you can even get a negative reinforcement for good behavior.

You follow the rules and you don't chase it and well, the thing ends up ripping all the way to nine bucks without you and you feel like an idiot. So it goes both ways. And so I've sometimes wondered. um, is it at odds to trade both profitably and from a place that's totally emotionally centered? Sometimes it feels that my big winners come after I've had a big loss, and it triggers me to get really aggressive on the next trade.

And the next thing you know, that next trade ends up being a 95 000 winner and I wouldn't have been that aggressive if I hadn't had the kind of emotional reflex of just taking a loss on the previous trade. However, I won't know until I really, really try to sort of test this out over a period of time. But my feeling is that while it's true that sometimes you know emotionally impulsive things, like fomoing into a trade or whatever can be profitable, what is probably also true is that over a long period of time, the amount of profit you give back off the top by over trading, and then the losses that just become snowball blow out huge losses. Um, they probably negate any of the gains that came from that emotionally fueled behavior.

So I'm at a point right now where I have to carve a path and I keep falling into the same rut in my trading, which is getting emotionally impulsive, getting extremely aggressive, trying to make as much money as possible when the market is really, really hot, and then almost invariably taking a huge loss off the top. Now in this period of time, right here of this year, you can see that I had a a really good run. you know, from down 100 000 on the year to up 866. but just like that, I've given back, you know, a third of it.

So that's way too much to give back from a nice a nice stretch of profit. And the initial feeling right now is that the fastest way to make back this 300 grand is to stay on this emotional roller coaster to keep swinging big to, you know, take 10 15 000 shares of Gamestop to, you know, trade. big size of anything that's moving. And unfortunately, I strongly feel at this point that I that this this rut that I'm in keeps leaving me in the place of feeling just terrible.

Last week I felt terrible all week I felt sick. I was waking up at 3 45 in the morning. I was trading from 4 a.m until after hours. Sometimes as late as 6 7 p.m I wasn't sleeping.

I would have sore throat. I mean, I just didn't feel well. I was staring in front of this staring at this computer for 12 hours straight. And I'm not just talking about in in general, but you know, staring straight into this little level two window here like this for 12 hours straight.

And I felt that it was what I needed to do to capitalize on the opportunity that was in front of us there last week. And it's what I needed to do to recoup the losses that I had suffered early in the year. and so now I'm in a place where I could say the same thing that it's that continuing to trade super aggressively and just you know, kind of just being like I don't know just at this, um, heightened emotional state. Uh, is what I need to do to continue to.

you know, take trades like you know, Aame right here. Just for instance, Aame. Something like this. Um, you know you can see.

look at how fast that just popped through 14.. look at that guys that broke 14. It ripped up to 15. Now it's back down to 12.

you know what I mean Like a trade like that? with 50 000 shares long I would have been up 50 grand for a second and now I'm down 50 grand on the bit. So if I keep fueling this, I feel like I'm sort of feeding this monster and the swings are getting bigger and bigger and bigger. And you know, yes, I am profitable across the board. But it's so emotionally taxing to go through these crazy ups and downs that I ask myself, is there a way that I could trade that is more? sort of even keeled that is more in line with the strategy that I teach and not on sort of just trading it.

You know, full throttle And so you know that, um, I I think trading is very dangerous in this area because of the risk of, uh, sort of having this. You know, compulsion to try to hit bigger and bigger and bigger and bigger winners. You know, trying to make more and more and more and more. And that's where you can start to fall into this spiral.

and you know to make back the losses, you have to take more and more risk and then you finally make them all back. But then you don't stop taking that high risk and then you dig yourself another hole. and then it starts the whole thing all over again. So you know, as I'm sitting here thinking about how am I going to rebuild, I could come in tomorrow and or Monday and do nothing different.

I could just sit down and keep trading with 25 30, 40 000 shares. Maybe on Monday we have some good good good opportunities and I finish up 40 50 grand. Maybe we don't and I'm down 40 50 grand. And if I'm down immediately, it's going to bring back all the frustration, all the disappointment, and all the anger that I'm feeling.

You know, I suppose right now. So what I told myself today was to come in and trade with small size. Now I wasn't Um, I wasn't broadcasting today, I was just trading. Um, on my own.

I didn't do the youtube week you know, watch list or anything like that. I just I was like you know what, just stay focused, just be calm, try to just trade yourself. And on my first trades I made five thousand dollars and that was on a rec the the stock that I uh was just showing you a second ago and then I got in at the top up here at nine so I traded it. That was over.

Let's see, I made five thousand on it here and once I was up five thousand I was like okay, let's put this account aside and let's switch to this account And I promptly lost seven thousand on a rec and I was right on the day and I was like look at you, you know you're you're back to you. You're you're You're doing the same thing you fo' mode and way too high. Um, and so today, while it's true that I'm Green by, you know, eight Nine Thousand Dollars or whatever it is today wasn't much better than any other day. This week I was green.

Five thousand. Then I was read Five thousand. Then I was green. A thousand.

Then I was read Ten thousand. Then I was green. Ten thousand. Then I was green.

Only Five thousand And on screen Fifteen thousand and I'm finishing here. Green Up. You know, Eight thousand Nine thousand. The roller coaster continues.

So I was wondering if, um, you know in my measurement of it, being a good day is being green. So what if I, uh, kind of, um, what if I sort of change that and focus on a good day Being a day where I exhibit good discipline, where I follow my rules and that the profits or losses are in a way irrelevant. Not to say that I'm going to trade with huge size in this testing of this theory. but if I trade with smaller size 5 000 shares, maybe max size or something like that and just see if I can, um, keep a little bit of a tighter reign on my emotional roller coaster Because today, the emotional rollercoaster was pretty high.

I was like, yes, good job Five Thousand Dollars. That's exactly what you needed today, just one day to just kind of clear the slate. Good job. And then immediately when I lost it, I was like son of a B, you know what I mean.

I was immediately right back to where I was yesterday, furious And then I got back to Green. I was like yes, thank you Good job. A minute later you know I'm back to Red and I'm You know it's like ah, it's so it just tells me that, um, today I I did not achieve what I, uh, set out to achieve and you know what what I should have done today. Uh, because my first trade on Ar Ec was so solid.

It was so solid that first entry right there. This was fantastic. Everything about that was a great one minute micro pullback. I made 5 000 on it and I should have walked away.

So what's the daily goal? My daily goal is 10 000. now in a state of sort of trying to recover losses, it can make sense to reduce that daily goal a little bit just to kind of clear the slate. So you know, today as soon as I hit 5000, probably the smart thing to do would have been to shut it down and walk away and be done for the day. But I kept trading and I went from Green to Red.

And of course the moment that happened I the emotion set in. I was furious, I was upset, and um, you know, things just sort of spiraled a little bit from there. I fortunately am Green today, but it could have just as easily been read. 10, 15, 000 or 20 000? Who knows.

So as I come in and you know there's this, um, um, in in Buddhism. I was talking with Ted earlier today. I had an emergency Ted session and he was telling me about the realm of hungry ghosts. and um, these ghosts who have their bellies cut open and so they consume, consume, and consume.

But they never feel full. And I think that feeding frenzy. Um, that sort of temptation just to feed as much as possible for this starvation this winter that's around the corner is something that a lot of traders struggle with. that we lose sight of what we're doing this for.

Especially when you've made maybe far more than you actually need. it starts to just become. well. I'm just going to see how much I can make.

Now I mean, what do? What's my goal? So setting goals. and then when you achieve them, setting new goals, that way you're keeping yourself sort of focused on like a waypoint. you know, what? Am I? What Am I doing this for? What's the purpose of all this, And for me right now, while I'm still not totally sure in some ways what it is, I guess. Um, if my purpose and goal is to make 10 000 a day, let's say, and also to try to be a not just a good teacher in terms of teaching the strategy, but also to be a good Um role model in actually trading the strategy true to the way I teach it and being more emotionally centered then for me right now, a good day would be a day where I had the discipline to follow all my rules and I think that sometimes when people become really successful um, there can be a tendency to feel like you don't really need to follow the astringent rules that a beginner trader would follow because you know when you're at your max loss.

But it makes sense to keep trading because there's other things still hot or you know that you did just lose half your gains. But these things are still moving. I'm going to keep trading them and you know you kind of get to this place of sort of flow state unfortunately that while I think it's very common, the traders get there and nobody wants to really be sort of like confined to very rigid sets of rules because those can often, uh, keep you out of big winning trades because you stopped out for the day and then all of a sudden. Oh, like you know yesterday.

for instance, Aacg. had I kept trading all day yesterday, who knows, maybe I would have made back everything I lost and so yesterday could have. I don't know. My chart's loading slowly, but yesterday, you know, perhaps could have been one of those days where I broke all the rules, could have kept trading and actually finished the day green.

And that would only further reinforce those unhealthy patterns of emotional trading and Fomo and everything else. So here was, um, Acg yesterday afternoon. Look at this. I mean this thing went from six to 20 bucks.

So you know what? I probably could have made back everything I lost yesterday. That was a great five minute pattern right there. And so that makes me feel like I kind of got punished for following the rules and walking away down 275 000 Because if I kept trading, you know on that. No doubt from 6 to 20 I would have made money.

I would think. but you know in the moment, who knows, maybe I would have, uh, taken huge size on the first candle to make a new high. Maybe it would have kind of faltered and flickered for a moment. Then as soon as it breaks out by 20 cents, I take it all off the table only to watch it rip.

A dollar a share. Two dollars a share without me. Then I get back in at the top and it flushes. I stop out, then it starts to curl back up.

I get back in with huge size, but again take the profit way too soon. So sometimes when my trading starts to get a little erratic like that, where I'm getting in, then I'm getting right back out. Then I'm right back in, then right back out. I'm trading with too much size, I'm taking too much risk, and I'm getting into the mindset of thinking only about how much these could go up and not about how much they could come back down.

So I am, um, making myself an emotional report card. uh, for Monday, and I'm gonna use that after each trade to check in with my emotional state of mind. And if I'm starting to feel really angry, really upset, really frustrated, I'm going to need to stop trading. It's the last thing I want to do.

and that means that that only reminds us of how important it is to actually do it. Because if you're fighting it, you're like the last thing I want to do is stop trading. You really probably should stop trading a long time ago. So today when I was up 5 000 and then started to go red, you know, as soon as I maybe gave back a thousand was up only three grand or 3 500 or 2 500.

That would have been a place to say. All right, You know what. Walk away with Green, walk away with some money on the table and you know, or walk away some money in your pocket and come back tomorrow. What I need right now is essentially five days or maybe 10 days of really centered trading where I'm day trading aggressively, but following the rules, I'm stopping out where I should.

I'm not over trading, I'm not overstaying my welcome, and if I can have five days where the emotions come back down, I think I'm going to start feeling a lot better. And right now, I just don't want to keep feeding this beast of this emotional cycle where I could be down two hundred thousand in one day and then try to make it all back and be up a hundred grand. You know, on Friday I was down over a hundred thousand. Oh, we could go Today I was down over a hundred thousand and then made it all back and finished the day up.

How much was I up? Um, on Friday I think I was up about a hundred thousand last Friday up 114 000. So from down 100 to up 100 on even on this day right here I was down 25 000 and then I finished the day up. I was up 500, then I lost 100, was up 400 and then I made it back to 478.. you know this was A this was a roller coaster of a day.

We can just look at the P L here. I was even red right down here. So I guess this is the spot where I gave back about 100 from 500 down to 400 and then back up. I mean I had so many days last week where I was trading like that, that's why I said that.

I feel like you know here, I gave back a ton right there and then really aggressively. I mean this is this is not good trading. Look at this. I was green and then one trade went red fo mode into another and then just got smoked.

This is totally unacceptable. So for me, the path forward. you know it on it and unfortunately you know this is a this kind of, um, you know, me coming in and needing to, um, you know, do a trade or rehab so to speak. So just so, trader Rehab is something I talk about sometimes.

um, it's usually usually after I've had some really big losses. Um, I'll I'll say all right, I gotta tighten things up. I gotta go back to basics. I gotta kind of get re-centered and you know that's where I'm at right now.

The problem that I have and my concern is that I keep falling into the same rut. It's sort of this path of least resistance that you know every time I find myself in this same place and I don't I don't enjoy it. I'm I'm not. I don't.

I guess I'm not enjoying trading in the same way that I did at one point. maybe in part because I don't have very clear goals tied to it so I don't feel like I'm working towards something specific. And then when I have periods of frustration, it's just disappointment and frustration. And so I need to find a way to find more enjoyment in trading again and constantly trying to chase and set records like biggest green trade, biggest green day, biggest green month.

It's not. that's not sustainable. You can't continue to have record breaking days day after day after day after day. I mean, you might in very short periods of time, but generally you won't.

So my my thought right now is that certainly trying to throw a Hail Mary pass and make three hundred thousand dollars in one day would be a quick recipe for going back to break even on the year that's not going to work for me. So what I need to do is I need to start the process of getting re-centered Rebuilding the account today is a step in the right direction from a numbers standpoint, but not as a step in the right direction from an emotional standpoint because I continued to swing around so much in the P L In in the sort of emotional ups and downs that came with the piano. A small account challenge is, you know, not a bad idea. One of the challenges with that is that I of course, wouldn't do a small account challenge in my main trading account because it's not a small account.

and so if I did a small account challenge, it essentially guarantees that I'm going to sit like this right here through the whole period of small account challenge. Maybe I do a one month small account challenge with a thousand bucks or two thousand bucks or something like that. and maybe I finished that month of 25 grand, but I'm still down 275.. And the other problem with small account challenges, um, is that there's definitely a lot of pressure when your account is so tiny that you have to hit big winners and trade really aggressively to grow the account quickly.

So I don't know if that would be the best thing for me right now. I think that that would kind of be continuing to fuel the emotional, um, you know, the the emotional swing that I'm on. So in any case, I'm not going to be doing that on Monday. I don't have an account set up to do a small account challenge.

What I'm going to be doing on Monday is my thought is to trade very cautiously to trade slowly to trade. Really good quality setups, and if I start to feel frustrated to stop right there if I have some good trades and I'm feeling good to trade until I start to be able to recognize that my emotions are picking up and so that's going to require me to be kind of really dialed in with where I'm at. From an emotional standpoint, Am I feeling Fomo? Am I just throwing my money at stocks? or am I really dialed in on good entries? So one of the things I mentioned today is that you should be able to print out, Um, you know every chart from every trade you take and be able to look back and say, yup, that was a good setup and if you can't do that, then you're probably trading Fomo. you're just marketing into stocks and marketing out.

So the second step for next week is to hold myself to that and to be able to print out every chart from every trade I take and be able to look back and say yes, Those were, without any question, good trades, good momentum trades that fit within the strategy. First, pullback, abcd pattern, whatever, and I think invariably the profits will follow that. I think the later I trade into the day, the higher the risk is of getting caught in stupid false breakouts like what you just had on Amee. this is that's false.

Breakout was stupid. I mean that was a million shares of volume, it ripped up and then quick reversal. I'm sure that spanked some traders. You know it's that's not.

that's not fun, but those things happen later and later into the day. So as we get later and later into the day, things get choppier and that's when. uh, you really have to either just be smart and have already locked it up and done for the day or I don't know. I mean, I can also tell you right now, my metrics are not currently supporting trading in the afternoons.

These are my metrics right now. Uh, unfortunately, from that big loss, my metrics are actually right now only solid between 7am and 9am. That's an unfortunate loss that I had right there. That was the one loss of 200 and whatever thousand.

But uh, if we look at a slightly longer period of time, you know, maybe just back to like December. We'll still generally find that my performance is much better in the morning and then really starts to slow down as we get further into the day. So you know I, uh, two weeks ago when I was down 150 000 on the year. If you had told me Ross two weeks from now, you'll be up 500 grand, I would have been.

I would have said heck yes. Awesome. Now if you had said Ross two weeks from now, you'll be up 500 grand and you actually would have been up like 800 grand. And then you're gonna lose 300 grand.

But you still got 500, I still would have been like yes. All right, You mean, I'm still up 500 000 on the year Sold. So perspective is important. Uh, for some of you that had a wild ride on Gme, you know, if you could have, if I could have told you, hey, you'll be up three million dollars on Gme and then you'll be back to break even.

Will you learn something from it? Will you gain something? And I think you'll have definitely gained something from it. So I know a lot of you have been on Ro a wild roller coaster with Gme with Amc. I've been on a wild roller coaster these last two weeks as well. The way I dug myself out of the hole starting two weeks ago right here was by covering my P L.

So I covered my P L with a piece of tape here so I put it on on top of my computer screen so I couldn't see how much I was up or down. covered that up right there and uh, focused for that week and a half. about it was that full week from the 19th to 22nd on just taking good quality setups and then I'd see how much I made at the end of the day and I had a good week. Four great days in a row starting on the 25th.

I was like okay, I just had four good days. I achieved the goal, but I did feel that I needed to see the P L. I felt like a pilot who didn't know how far off the ground he was. You know I was like how how aggressive can I be right now? How careful do I have to be? I don't know.

Am I 10 feet off the ground? Am I a thousand feet off the ground? I can't tell and so I felt that I was able to be more aggressive knowing how much I was up. And so once I started to pick up and things were going well, I did want to take that. I took that tape back off as we came through last week because it allowed me to sort of know I was already up 100 so I could take 50 000 of risk and then be up. You know, 200 or something like that.

Um, you know. So anyways, um, you know. and for the comments out there. oh man, your strategy's so risky.

You know I I would never want to be your student. Then don't be my student. I don't care. This is the strategy that I trade and if you don't like it, you can trade with whoever you want or you can trade by yourself.

I really don't care for me. I focus on trading momentum. I'm a momentum trader so if I see stocks squeezing up, I'm going to jump on them. I have a proven track record and so for me it's just the ebb and the flow that I'm going to have big moves to the upside.

and then I'm going to have moves to. the downside. The bigger problem for me is that I'm not currently happy with the amount of swinging that I'm having in the P. L.

I think I'm being too aggressive. I think that I'm being, um, just a little. I think I'm just being a little too aggressive. And I think that this market has shown that being aggressive can certainly pay very well regardless of account size.

But you know then the other side of it is you eventually get. You know you get that hit off the top and then you're like oh man, I just lost 50 000 off the top. and the only way to make back such a large loss is to continue to. You know, feed this a beast of being aggressive.

That's that's where it's so hard. at what point do you decide? Okay, I'm gonna slow down. You know there's other traders out there who are you know, profitable and only trade with like you know, 2 000 shares and I would kind of look at that and I'd be like to me it's like why are you leaving so much money on the table? Why are you being so conservative in the hottest market we've ever seen? If there was ever a time to be aggressive, this is it. Now, Yeah, being aggressive is it's a sword that cuts both ways.

But is this not the right time to step it up now? Maybe today? Not necessarily. but just in the last like year for instance. And um, I don't know. So I I guess I push myself a little harder than some people do, but I'm also finding myself dealing with sort of the physical side effects of that, which are high stress level cycles.

um and feeling like I'm only as good as my last trade? I'm only as good as my last day, you know I I feel like I could relate to the way uh what I would think a professional athlete would feel Some professional doesn't matter, an athlete would feel with you know each season and each game and trying to you know I guess the the thing there is that at least they have a goal which is try to get to the you know championships or the Super Bowl or whatever it is. whereas for me it's just kind of to try to set you know even to say I want to set a new record of making having my biggest green day or having my biggest green month that's so tough because while there's certain things I can do to make it more likely that'll happen which is trade with really large size. I I have no idea when the next Gme is going to come around. I wasn't expecting Gme Gamestop this year it happened.

I have no idea what's coming so what's coming for the rest of the year could be fantastic opportunities and more stocks like Gamestop and this could be a 10 million dollar a year for me or we could see everything fizzle out. I mean I don't know, so it's hard for me. The Super Bowl always happens a five million dollar year. While that happened last year.

I can't I don't feel like it's realistic to set that as my goal for this year because it's so contingent on force is so much bigger than me. I can only do the best I can. So that's where I'm sort of struggling with. You know, what is what is my goal? What is the purpose? Why am I doing this? And um, I guess I'm a little critical of taking the approach of not trading to make money anymore and just trading to be a good teacher or a really good role model because that seems sort of that.

The reason that people want to learn from me is because of how much I make trading and you know the proof in the pudding right there. But maybe it does make sense for me to step off of being so aggressive and just focus on being a better teacher. I? I don't know that just feels counterintuitive to me, but maybe it's not. I don't know.

In any case, starting on Monday, you know game plan is to be more dialed in with my with discipline and following rules. and if I can have five days next week where I actually follow my rules every single day that by itself would be a victory. So you know to break down what my rules are. Um, I don't have a max loss out of my account right now.

Well I have one at 150 000. there is no way I can lose 150 000 any day next week and not be devastated. So for my max loss, um, I, I don't know. You know it's that's going to be so tied to share size.

But I feel like I mean I'm thinking in my head like ten thousand. Um, if I lose ten thousand in one day, I should just be locked out and be done. Um, I just can't. I just don't think I should lose.

I just don't think I should have more big red days. So then the question is okay. Well, how do I position myself with share size? You know, ten thousand dollar max loss with a stock like Gamestop? That's like two thousand shares With a stock like you know, a Mme. Maybe that's five thousand? Maybe that's even.

Maybe that's even ten thousand. Eight thousand shares. So trying to figure out what are what are the rules that I kind of have to follow next week as um, my first full week of of trade or rehab, having discipline means following the rules. So on the one hand, it could just be the second.

I start to feel angry that I stopped trading. Um, I would I would say right now if I give back half my gains on the day, I need to stop. So if I'm up five grand and then one trade, I lose it all. That's it dude.

You're done. Come back tomorrow if I'm up five grand and I lose 2500, take the 2500. Be grateful for it, and come back tomorrow. If I'm up, you know 10 000 and lose half Whatever.

If I give back half my gains, then at that point I'm done. Uh, no doubt that would mean if I hit my daily goal and then go red. I'm obviously done because I've given back more than half my gains. because I know for me, that's such a big trigger.

That's what triggered me. yesterday. Yesterday I was up 27 000, lost it all in one trade, and that triggered me. That was my trigger right there.

From that point forward, the rest of the day was gone. So the feeling of loss. So I think I have to be really tight on following the rules around what happens when I lose. So if I lose half my daily gains, I've got to stop.

And if I go down 10 000, I've got to stop. So I'm going to set my max loss at 10 000 for next week. And you know what? if I had five red days in a row and I lost 10 000 every single day next week, that would be pretty disappointing. But at the end of the day that's 50 grand and the hot market, I can make that in one day, no problem.

The thing that I usually say is never to lose more than you can make in one good day. So unfortunately you know for me, my best day is Five. Almost 500 grand. So it can.

I could actually afford in that in that mindset. But my daily average right now? My daily? My average daily. uh, profits. If we go from, uh, let's go to from April of last year, my average daily gain is 26 000 a day.

So certainly a 26 000 daily loss. makes sense when the market's hot, but right now the market's not hot enough for me to set my losses that far out. It would just be too bad for me to too painful for me to have two more big red days and be down another 50 grand in two days. So 26 000 daily goal Daily average My daily goal right now I'm gonna set still at ten thousand.

But my thought is that as soon as my So, here's here's what I'm thinking as soon as I hit my daily goal: reduce share size because what's also happening to me is I hit my daily goal and I keep trading with bigger and bigger and bigger and bigger size going for. you know, from 10 to 30 to 40 to 70 and then in one trade I give it all back. So reducing share size after goal if I'm down 10k, I'm done. and if I give back half my gains, I'm done.

So those are the three. Those are the three rules that I'm going to follow in terms of very specific rules: one two, three, and then keeping a really sort of tight score card of my emotional center. And if I'm starting to really feel bent out of shape, then I'm gonna. I'm gonna have to stop for the day.

You know this. You know, I, I, I can. I can hear the um, you know First, this is first world problem type of, um, criticism. Of course everyone out there who's traded Gamestop in the last, uh, you know, two weeks that had the money to put into Gamestop.

Their losses are also first world problems because you know it's a stock you had money to put in the market. That's a first world problem. I think the question, um, isn't about whether or not this to me isn't about whether or not this is a problem even worth talking about or that it's um, you know, when there's so many bigger things in the world, this is a very real problem that a lot of traders face which is dealing with loss and how to recover from a massive loss. And that's what I have to do right now.

This is my job. So for the most part I would think most of the folks watching this episode would will relate to that. I I just. I.

I see some of the comments of people who are like oh, millionaire problem, You know, you know he's a millionaire, He's you know, which I Okay, um but for anyone out there I dealt with this stuff and had to find a path of recovering from loss before I was a millionaire and finding that path is what allowed me to get to where I am today. And so I would say for anyone that's wanting to become successful trading, ultimately you will at some point experience loss and my hope is that some of the lessons and the things I'm touching on here in this episode will help you in that endeavor in that in that process and if it doesn't then you know it doesn't but I think that it can only help you by learning someone else's you know thought process. This is kind of me just thinking out loud and you're a bit of a sounding board, but that's the that's what this channel has been for years and so you can go back and look at any of the other big Red Day recaps I've had in the previous. You know, six months or 12 months and you can hear my thought process and then you can see the recovery.

We can look at my uh, you know, look at my equity curve and you can see these areas where I've had slow points, I've had struggles and then I've had to make back those losses. You know this is these have been various points. like right in here in January where I struggled. You know, in here there were big losses through.

here was very choppy for me. So you know this is all. Every time I've been in this situation, I've had to come up with a game plan of how I'm going to carve a path forward. And the main problem for me right now is the feeling that I'm in this rut and that I keep coming back to the same place.

And so that's where I'm trying to think a little bit bigger about why I keep coming back to the same place and whether there's a way that I can trade where my, um, where I don't keep finding myself in the same place because because mostly of how sort of stressful it is. I think that you know I ruined my birthday yesterday. Um, you know, while I was able to be positive about the fact that life is still good and everything else, unfortunately it's it just weighs on you so heavily that financial loss that you've taken. So is there a way that I can trade where the emotions start to come down a little bit? Um, certainly with smaller size, the ebb and the ups and downs would definitely be smaller.

But then I'd come back to that feeling of leaving so much on the table so I'm aggressive, I'm competitive. I see other people that are throwing down big numbers. I'm trying to do the same, and you know, keep kind of coming back into this same circle of big wins, then big losses, then big wins, then big losses. And I think that, yeah, it's It's certainly a factor that everything is multiplied bigger with huge share size.

But some of those emotional entries that really kind of disappoint me. So anyways, you know, I just thought I'd come on here and do my recap for today. This is where I sit. I'm um, up 11 000 in my main account.

I'm down 1900 in my other account. So one's a retirement account, one's a traditional account. I trade in both try to put some money away for retirement, but you know, I got green today. But it wasn't really that great of a day because the emotional, uh, roller coaster from yesterday continued.

So I'm going to try to do better tomorrow or on Monday, and that's going to be in the form of practicing discipline, so meditation, willpower, and trading less. I'm only going to be able to have short windows of being able to really discipline myself. I could put 15 candy bars around my desk. I can only sit for so long before finally I give in.

so I'll probably only be able to trade for like an hour on Monday, maybe from 8 30 to 9? 30, 10, 30? whatever. And then we'll start our class. We're gonna continue for Warrior Pro Students on Monday with chapter six of the Warrior Pro classes. so we'll we'll pick that back up.

But you know, for anyone out there that's thinking about trading, I would just again as I get ready to put my disclaimer back up, remind you of how risky trading is that trading. It's not just learning a strategy, it's having discipline to follow the strategy. I have a proven strategy. It's proven in my own metrics.

It's a strategy that I teach every day. and even I sometimes struggle to have the willpower to follow the rules of my own strategy. It's embarrassing, but you know I'm the first to admit, um, when I screw up and I, you know I talk about it. But this is the very human struggle that comes with trying to trade the markets.

and there's either going to be a day where I'm able to come to some type of acceptance around my style of trading and the emotional ups and downs, or I'm able to develop a practice of discipline that stops this emotional cycle, or where I just eventually say I can't do this anymore because I just I can't handle the stress. So I'm at a point where I really need to try to find a new path forward in terms of having the discipline to stop trading. And when I'm dealing with this emotional spiral. And so every day, you know is kind of a bit of a challenge here for me as I try to break some bad habits bad habits which have paid really well because the market's rewarded people who have chased stocks.

But you know, when it hurts, it hurts pretty bad. So yeah, I don't know. Anyways, that's that's it for me. I'm gonna put my disclaimer up and I'll see you guys! Um, first thing on Monday morning.

Thank you guys for tuning in and those of you who are hit the thumbs up and subscribe. Thank you guys for doing that and I'll see you on Monday!.