What's up everyone? Alright, so here we are: Monday Morning. Worst way to start the week. Red Day recap down Five thousand Eight Hundred bucks. That's really frustrating now.

When I had my big Red Day last week, a lot of guys were asking Ross why don't you stop? So what happened? You know you've got your daily max loss. How did it get away from you? So this is sort of the thing. And when you're learning how to train as a beginner trader, you want to have your daily max losses. You want to use stop limits because they prevent you from having a big screw-up It's kind of like learning to ride a bike with training wheels on.

You know it just prevents you from falling hard during the time you're most susceptible to have a hard fall, which is when you're learning. but you're not gonna win the Tour de France with training wheels. It's just not gonna happen when you get to a level of training where you're really competing to be. You know, one of the one of the best traders out there.

You can't have those restraints on you. and so for me I take off the stop losses I have my daily max loss. but the way it works is that if I'm below that level I can't take a new trade and I can't add to a position, it doesn't mean I can't keep holding a trade. that's you know, going red or that I'm trying to work my way out.

So you know sometimes even in the Tour de France some of the best cyclists in the world that come in a little too hot on the corner, they hit some gravel and you know they're off on the side and and and that's it. You know. So that's part of the deal with trading and competing it at a high level is you know, taking some risk and being aggressive knowing that you've got this sort of. you've got this built-in intuition of when think when to be aggressive and when not to be and you can usually count on it, and usually I can't.

Over the course of the last three thousand plus trades, I've been right about seventy percent of the time that I've made over a million dollars. Now that's over the last three years since the small account challenge started. I'm right around nine hundred and sixty thousand dollars of profit, you know? Which is to say that this strategy works. Being aggressive works, but sometimes you're gonna fall off your bike, you're gonna skin your knee and you know it happened real bad last week and I happened a little bit today.

but I always get back on the bike and that's the important thing. So it's not about how many times you fall down, it's about how many times you get back on. So back on of course. first thing tomorrow morning.

not gonna trade again today, but tomorrow morning you're back at it. Live pre market right around 9:00 9:15 for our pre market watch list. All right. and I Wanna remind you guys tomorrow: 7:00 p.m.

Eastern I'm gonna host a free workshop. So I'd love for you guys to register. check it out. We'll talk about risk management.

We'll talk about how to find strong stocks. We'll talk about where to get in and where to get out. So for those of you guys are at the very beginning of your journey trying to learn how to trade, this workshop is free. It's gonna be a lot of fun.

Really valuable, all right. So I look forward to seeing you guys there and as usual, any questions or comments, leave them below. I'll come back through an answer later this afternoon. All right, I won.

So we're gonna do midday market recap here today. Go over the trades from this morning Red Day recap which is disappointing, you know I mean obviously red days aren't fun, but it's just part of the deal. Today's a day where the watchlist was just totally dead. There was nothing on the watch list or the pre market scanners.

It looked good. I Ended up taking a couple of trades off the High Bay Momentum scanner and I lost on all three of them. So three losses and I was like that's it I'm done. This is it's not worth continuing to trade I kind of I'm struggling with what I want to use is my daily max loss because when I'm trading with 9,000 shares, you know and I it's just so fast to be down like 2,100 2,200 bucks I was down 2,800 on the Oxl.

It's past my sort of $2,000 max loss, but I'm like you know, it's one trade, it's so quick. What if something does end up popping up, that's a really good opportunity. You know that maybe 2000 was is too tight of a max loss now of course today if I've used it I wouldn't have taken these next two trades and that would have been better. You know I mean that definitely would have been better than where I'm at today.

but I've also had days where I went into the red and then we ended up having great opportunities and I just kept trading and you know I was able to get myself out of the hole so I don't really know what the right thing to do is on this. but any case, so the Gap scanner this morning, so here we go. So CR is was our leading gapper this morning, gapping up eighty percent. However, I wasn't confident in it.

The float of 32 million shares made me a little nervous. I mean right here I was kind of like okay this this actually looks okay. but then right here before the bell it dipped down and then once the bell rang it sold off even more so it just kept going lower so no opportunities to trade. This it was on the watch list is a maybe over these levels, but it didn't break those levels.

So no trades during our workshop tomorrow night 7:00 p.m. Eastern I'm going to talk about risk management and and you know, sort of the methodology that I use. Not that it's right, you know a hundred percent of the time, but over the long haul and this is over the course of thousands of trades, it certainly works more than a dozen. and the you know, half a million dollars of profit last year can attest to that.

So you know this year I'm sitting at around one hundred and twenty five thousand dollars of profit, which is good. It has me pretty much on track for a half-million-dollar year. As long as we, you know, as long as I can maintain my daily average from last year, then I'm in good shape. You know, this year for sure I had I've had now a single red day that was far bigger than any red day yesterday or last year.

So that's drawing down my average daily profits quite a bit. But I'm averaging about $2,200 a day. So as of today, my projected 2019 is four hundred and eighty four thousand dollars if I just average and Coast for the rest of the year without having any big days. So you know I mean I'm kind of like right on on track right now with just a slight bit below or behind.

would I be tracking cancel this? So let's all right, let's see. So anyways CRA s note rates on that one didn't look good MC t Why this one of gapping up 56% the bell rings, it sells off. No no trades, no opportunity. It's just super red, you know? and this is kind of a I was we were talking about.

You know whether to short this out of the gates? but I just I didn't really want to do that. I wasn't confident enough that it wouldn't you know, maybe pop up a little bit. The bell rang and it just sold off. so you know that one was red.

So our leading gaffers CR is and NCT why both red. So nothing there. All right. First trade off the hide a momentum scanner.

bo XL Bo XL comes out with news right at 9:40 which was four million dollar investment and I saw that and I was like four million dollar investment. That's a good headline. We've got actual news on it. it's hitting the scanners, it's popping up so as it popped up here, it pulled back just for a second and I did a little micro pullback with an entry at 27 and my target was breaking over the half-dollar of 350.

It popped up to a high of 338 here and then dropped down and I stopped out right here on this candle for a $2,800 loss which was a bummer so lost about 30 cents per share on that one. so you know that was twenty hundred dollars in the red pretty much right away. Next one on the scanner we had a ETI pop up. This one's annoying.

it got in at a dollar 10, popped up, made some money, got back in in a dollar 25, dropped down, stopped out, gave back my profit so I jumped back into it I don't know I I got in obviously high when I got back into 20 five and but I thought that the way it was grinding it was gonna keep going and it kept going a little bit. well actually not really only 226 and then it rolled over. So yeah, so that one didn't work and then YVR hits the scanners and is halted. This one also had news and I should have probably said hey you know Bo XL didn't do very well.

Let's maybe just leave this one alone. but I did take a trade on it I got in this one and you can see this one minute micro pullback here I got in it 39. It hits a high of 50 and then drops all the way down to 387 I stopped out at about 405 or 410 so lost about 30 cents on that one. So keeping my stops at about 30 cents which you know is a reasonable stop for me.

and given my position sizes, you know this is sort of the result of those types of losses. It's it's. not surprising, but you know, generally a little disappointing to have a good sized read day here. I'm trying to be on a kind of consistent green streak, but you know, getting hit with another read day.

So I suppose the warning sign this morning was that you know the gap scan was dead. There was nothing. They looked good. the two leading gaffers sold off.

but you know, breaking news Ken in the middle of a slow day give you some great opportunities, but that just didn't happen would be Oh XL or YVR. Despite the breaking news, both of them ended up selling off. So disappointing there. but we've still got four days left in the week, four days left in the month, so you know they'll be.

I'm sure some good opportunities here coming up and hopefully we'll be able to. You know I'll be able to recover this week and have a nice green week by by the end of it. Alright, so again reminders join me tomorrow 7 p.m. Eastern for our workshop and I'll be talking definitely about risk management talking about the big loss I have last week and yeah, it'll be a good workshop so that's tomorrow.

7:00 p.m. Eastern I'm gonna call it a day here and shut things down and be back at first thing tomorrow morning. All right everyone. I'll see you guys all first thing in the morning if you're still watching.

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