What's up everyone? All right? So unfortunately, today we've got a Red Day. Monday Recap: Oh, that's not what I wanted to be doing here, but it is what it is. I've read in my main account and read in the IRA it's the second trade I've taken in the IRA Well, I took one last week and then these were the first two trades. have taken in like three months and made 400 last week in the IRA lost 1,600 today, so that's disappointing and I lost 2,300 my main account.

so down 4000 on the day. just like that. So you know that's the way it goes with trading. It's five, six, seven steps up, one step back, readjust, slow down, and then head back up.

So the goal tomorrow will just be to close the day green. It's not to be aggressive or to try to try to make back all of today's losses. Not worried about that. You know being down 4000, it's not an astronomical loss.

It's not more than I can make back in a couple of good days of trading, but I gotta have my mind set. my focus on just being green, taking good quality trades and the gains will come. Alright, so we're gonna break it all down. Today's midday Market recap: I Know something.

You guys really enjoy the Red Day recaps because you learn more from them than some of the green days. So enjoy and any questions, any comments, leave them below I'll come back through and answer them later today. Alright, see you guys tomorrow! What's up everyone? All right? So we're gonna do a midday market Recap: Go over the trades from this morning. Today is my first red day after a looks like a twelve or so 11 or 12 day Green Street which was a really nice green streak.

but you know today's the first red day. So unfortunately today I'm red both in my IRA account here where I'm down 1600 bucks and I'm red in my main account where I'm down 2,300 bucks. so you know I'm sitting red on both sides which is definitely not the way that you know I'd like to start the week, but you know it is what it is today. I I kind of got frustrated like right out of the gates.

My very first trade on Solo was a good trade I jumped in it at $6 sold at 6:17 I sold the rest six away what 580 whatever made like 350 bucks right out of the gates. Second trade: I got back in 6:30 6:40 I was six thousand shares I sold three well I sold to 2,300 shares at 6:59 and I was trying to sell the rest up there and I didn't get filled, had to cancel the orders and then they ended up getting filled. You know it came all the way back down to six dollars and six $56 558 and 532. And so I went from being up $1,000 on that stock to down a thousand and that was what sort of began my you know, sort of downward spiral today.

That for me was really frustrating because and just to back up a little bit, we can look at the Gap scanner I'll kind of show you how I found the stocks I traded. So you know this morning started pretty much the same as any other day with our Gap scanner here. So if I go timeframe and historical data 9:25 let's say you'll see Solo was at the top of the Gap scanner. This was our leading Gapper this morning up a hundred and seventy-five percent with a headline.

The problem I guess for me was that by the time the bell rang it had already moved up. So much you know which I was a little bit concerned about, but we had a pre-market high of seven dollars and 26 cents and we had three red candles in a row and then pre-market it pops back up. So this was a bull flag pre market that did not resolve by going to new highs but popped up only a little bit and then pulled back. So this now takes the formation of an A/b C/d set up point D is where you expect to move over the high of 641 and then a retest of high of De 726.

So as soon as the bell rang I on this one had a bias to jump in and scalp it to the long side and so I jumped in at 6 dollars. First trade jumping in at 6 and I sold at 617 617, 608. It hit a high on that first candle of 623 and then it dropped all the way down to $5 So it popped up then came all the way back down as it surged back up right here. I got back in at 6:45 because there I saw it breaking that pre market pivot right here at 641.

So I'm back in it at 640, 6:30 and 6:45 taking a starter and then doubling trying to sell on the break through the half dollar but filling only one of my three orders. Alright, so that was disappointing I tried to sell 59, tried to sell more and more, didn't get filled and so then you know I ended up when I sold 2,300 shares at 60 from my average of like 41 or whatever it was 42. Actually no, my average would have been 37 from average of 37 that was. you know, 20 cents says 500 bucks, you know? So I was up close to $1,000 on the stock and then boom it flushes here all the way back down to $5 and so I stopped out and I'm down now $1000 on that stock and that frustrated me because you know I went from having a nice win to then getting you know this this good-sized loss and it was just kind of disappointing.

So I think at that point I was I was definitely a little irritated and nothing else on the Gap scanner really looked at that great. Craig no good be Lnk, no good D Cix tops shipping stocks not interested so we really only had so low off the Gap scanner and at that point I was watching the high ad a momentum scanner. all right so hide a momentum scanner solo, solo solo and then we have you you 150, 149, 158, 160, 164, 170 and I'm like okay wow, this thing is actually moving up pretty fast and I think this this one, maybe this is gonna be the one you know all of a sudden it's taking off here so as it's taken off I'm like alright, this looks interesting I'm gonna jump in I'm starting to think that it has potential for a move to two dollars two dollars sort of psychological resistance. So on this one I jump in it in my IRA account at a dollar 76 and I take 10,000 shares and I'm thinking potential is $2 right? So I'm I'm thinking this one 25 cents that's 2,500 bucks.

That's kind of what I was looking at is my my target $2 so I'm in at 76 it pops up to a high of 85 85 right here I Also get in in my main account at 76 and 80 not him with the IRA first and then got into the main account and you know I liked it enough to take it in both accounts. I'm thinking two dollars is sort of my back of mind potential. it hits 85 and then comes here all the way back down to 45. So it basically retraces the entire move in these three candles and and so I stopped out I Have to, you know I do the right thing I Gave it this little chance here to pull back and I was expecting it to go higher here and as it broke the low of this red candle I stopped out and so this the low.

This candle 65 and I stopped out and got filled with a little bit of slippage at 60 and lost 1,600 bucks in the IRA. So that's disappointing, right? You know that's a setback that puts me back down to about twenty thousand dollars in equity in the IRA uses up all of my buying power until Wednesday so I'm not gonna be able trading it again till Wednesday. So just overall, that is super disappointing. I mean that that is more disappointing here than this loss just because percentage-wise it's a bigger portion of the account I can't add more money to account, etc etc.

You know why didn't I jump in aggressively on this? It was hitting the scanner. boom boo-boom boo-boom hide a momentum. you know, Just to me, it looked like it had the potential to make a move. You know I really thought it did the one red flag was it didn't have news.

but you know again was solo being strong I Sort of thought momentum would carry over to this stock and anyways, it ends up over the course of the next like half hour or whatever going up to a high of two dollars and twelve cents. so that's even more annoying. It ended up doing what I thought it would with no news. it just might.

it just didn't do it when I thought it would. My timing was wrong. so you know obviously hindsight being 20/20 could I have just held the whole thing well. if I'd done that, I would have had to hold this from 75 all the way back down to 45.

That would have been a three thousand dollar loss. And if I wasn't willing to sell it down there, then where would I have sold it down here? you know, down here. and then that's a four thousand dollar 5000-6000 dollar loss. and I can't afford to do that with this account or even with my main account.

that's not. That's not the right thing to do. So I took the loss and then the fact that it goes up higher. you know it is just the way it goes sometimes.

so that was you, you you and at that point I am down below $2,000 I'm down 1,600 in this account so I'm done with it. can't trade in that account again and I'm down $2,000 in my main account. so I'm below my max loss. So I'm like alright, I'm done for the day, you know, below max loss.

However, I don't actually have my max loss enabled on this account yet. this is my sterling account and I haven't set a max loss on it. So I'm sitting here and I see solo rip back up and I'm like You know what? this thing looks strong I you know it's been it faked out long traders here. They'll have faked out long traders here.

then it fakes out short traders here. Then it fakes out long traders here. and then it. You know, fakes out short traders is it squeezes back up.

So I was like, you know what? I still think this one has good potential I still do like it. So I was like, you know what? I'm gonna get back in it and so here I'm breaking one of my rules which is to take a trade when I'm down more than 3,000 more than 2,000 dollars. So I got back in it at 685 and rode the momentum up here through the high of 748. So on this one I ended up selling.

My best exit was 743 and 744 right here and right here. So I made back $2,000 on that trade and in this account I was now down only 500 bucks. You can see I'm down 1500 on you you you and and up a thousand on that one. So I was like alright, well you know now I'm I'm kind of getting myself back in you know, back back in the green making my way back up.

so that was on solo and now now I've built a little bit of a cushion between me and being down 2,000 in this account. So I was like alright, well you know I get I guess now you know I can go, you can keep training. you know now I'm not now I've you know got stuff back up? Maybe I broke the rule to do it but now I'm in better shape. so uuu is back on the scans I don't trade it whatever CCC L hits the scans and you know on this one I'm like alright well I don't know, you know just I look at it and it just squeezed up from 240 to 260 280 $3.00 327, 337 340 and it gets hauled.

It looks like it's about to get honky. so I take three thousand shares as it's about to get halted at 337 and it doesn't get halted. it ends up continuing to trade and I end up stopping out at 276 as it drops. wait all the way back down here.

So then basically I gave back what I'd made on the solo trade and I'm back down to down 2,300 bucks. And was it worth breaking the rule on the solo trade only to give back that profit? you know 15 minutes later on? CCC L I don't know, you know I mean it's just one of those days I'm kind of like hmm, you know did I let emotional or frustrating frustration and take you know, get the better of me by taking trade number 4 and 5, etc etc. You know I don't know. Did I have three consecutive losers? Kind of because I took two trades on you, you you you or you you you I don't know, You know I had a loss on Solo and then two losses on you you but they are on the same time at the same time in two separate accounts I'm not sure I think getting back in solo was a good trade as it broke back up over the high a day.

I think that was the right move here and I think this could have gone up towards $1 if it had broken over 750. so that scalp around 714 right here and the scalp right around 680 $7 I think that was the right move. Those were solid trades. If I hadn't been down below 2,000 I certainly would have I would have taken the trade so that was a good trade.

CC CL This was an aggressive trade. a little bit of a risky one because it had come up so much. However, it's a former runner as you can see with this big day where it squeezed from - all the way up to seven, you know. Pulling back here for A couple days squeezing up made a little bit of a move on.

Friday sold off start to make a little bit of a move today. sold off. You know if it keeps doing that, it's eventually gonna have a day where it does open up. I only took three thousand shares.

so I think that shows that I was you know, using kind of a little bit of composure there I was willing to be aggressive, but I was mindful of the fact that this was. you know, a fairly high risk trade and not one that I should have taken huge size on. I think if I jumped into that with like six or ten thousand shares, that would have been very emotionally impulsive. that would have been really aggressive.

Jumping in with 3,000 shares is a starter position that was fine and then in the next candle it flushes down to three I hold it for a second it dropped to 287 and I'm like well let's watch first candle to make a new high, see if we can get back up above three and then you know, move higher and then just kept going lower and I was like I this is ridiculous I gotta cut the loss so you know I don't know I Probably the right thing on that one would have been just to wait for the first pullback, but it looked like it was gonna go into a halt. They usually open higher and then I would have been looking at four dollars as a possible target so maybe on that one I should just wait for it to get halted and then buy it out of the halt or wait for the first pullback and then take the first camel to make a new high rather than just jump in as it was squeezing. Of course if you jumped in at 285 as it was squeezing or at three as it was squeezing, you would have done really well I just waited a little bit on it so you know again, this is one those heart things with trading. Sometimes you get rewarded for breaking the rules like on solo and the rule not being related to that type of stock but around my personal max loss and then sometimes you get punished for breaking the rules as I did on CCC L and at the end of the day I'm basically flat over those two trades but left with having to think about why I broke the rules and whether it was worth it.

If I would have been better off just walking away after the solo and you you trade and you know I certainly would say that yes If I had taken you know, six thousand, nine thousand, ten thousand shares of this and then lost three or four grand, that would have been I would have been very frustrated with myself. Very disappointed that I took that trade with that much sighs and I'd be in a very different kind of emotional spot that I'm in now. but as it stands right now, I'm like, well you, you do I think I did have the right idea I was just a little early on it. The proof is that it did end up hitting my target of two dollars so had the right idea on that.

just got stopped out. It is what it is solo for a stock with as much range as it had I really wasn't what's going on I really wasn't able to capture a lot of profit which is disappointing and I think that also just goes to show that sometimes we have these really big moves pre market that by the time the bell rings, it just ends up being choppy and really the bulk of the action here was pre market on about 50,000 shares of volume. Really, you know and there just wasn't a lot of opportunity there to get in it. so you know it is what it is, down 4,000 on the day between the two accounts.

I'll live to trade another day, which is important. You guys draw the line someplace and you know? Certainly, I could keep trading right now, but I'm not going to at this point. We're past the first hour of the day when I make the most money. It really doesn't make sense for me to keep trading.

My best bet for the next big win is tomorrow between 9:30 and 10:30 That's statistically when I do the best, so you know it. It's a little bit of a setback up close to 40,000 on the month. now back to 36,000 but I'm still green. This is only my third red day of the month and although it's the worst red day being down 4000, My best green day of the month is being up eighty two thousand, eight thousand, two hundred, eighty two hundred.

which is a great green day. So you know, keep the green days bigger than the red days. Try to keep as much space between the red days as you can and you'll do okay. So tomorrow my goal will just be to close the day green.

I'm not gonna be able to touch I'm not gonna be able trade in the IRA account that one I've got to wait for cash to settle, you know I Had a trade on this last week and made some money today. I Stepped up to the plate, was a little aggressive and it was the wrong. It was the wrong trade. That's definitely disappointing.

So my next trade on it I'm gonna have to be really really confident before I jump in, you know? I I Really don't want to have you know it's one thing to have a loss which is fine. that's part of trading. but I don't want to keep going down, you know I Have to really manage this one tightly because I can't add more money into it until January first. So January 1st I'll be able to add what is the I'm trying to remember what the IRA contribution limit is I think it's fifty five hundred.

so I'll be able to add five thousand five hundred in January which would of today put me over the PDT rule. but I really was hoping to get there on my own without having to do another contribution. but at the end of the day doesn't matter, especially since this is an account that I'll be trading in until I'm 56 years or 59 years old or whatever it is. so it's just getting it started.

That's sort of the hard part and getting it started without having margin. That's the really hard part Now with sure trader and cmeg those brokers down in the Bahamas you know, without having the PDT restriction with $500 you can, you can trade on margin. you can trade ten times in a row, you know, etc etc. with you you you because I know I can't sell it and then get right back in instinctively I'd hold it longer because I'm like, well let me really give it a chance because if I sell this I can't take another trade on till Wednesday So I'm I just have to sit until Wednesday before I can take another trade.

So I really want to make sure that it's gonna not work? you know I don't want to just break out or bail out as much because when you do break out or bail out and you sell immediately, that's because you're willing to get back in if it's if it proves itself if it starts going back up. But when you can't when you can only take one trade every two days or three days, you don't really do that as much. You take an entry and you want to give it the chance to to work even if that means you are down on for a few minutes. So anyways, you know that's a little bit of a step back.

step back here. but it's not my first red day in the IRA either. I've had a couple of other red days. it does mean most likely I'll close the month red in the IRA by about $1400 which is gonna be my first red month in the IRA but you know it, it is what it is.

I'm not gonna get bent out of shape about it. I'll just you know, get back on the horse tomorrow with the main account, try to rebuild some momentum and hopefully you know maybe by Wednesday or Thursday we'll see something that's worth trading in the the IRA and whatever. I'll be able to kind of make some progress there. So yeah, that's kind of.

That's where I'm at here this morning. A red day recap. But you know, a day where I I tested the limits a little bit by breaking a rule and still stayed within my kind of limits of max loss. and you know emotional composure.

I didn't throw it all to the wind and just start revenge trading my account. if I did that, I would have bought DG ly as soon as I hit the scanner and I would have bought DCI X as soon as I hit the scanner and GB LS and DRA and Km di and I didn't if I had jumped in G lbs as it spiked up, what would have happened I would have been holding it in the red down 50 cents right here DCI X same thing be in the red so you know I knew those ones didn't have potential, they weren't worth touching and of course by this point I was read more than I was willing to. you know, keep trading through so that's it for me. I'll be back at it first thing tomorrow morning.

Hopefully we see some good opportunities and can get another. Green Day But you know it's it is one of those things you know. Sometimes it's two or three steps forward. one step back, another two or three steps forward.

one step back. Sometimes you'll be in a market where it's one step forward. one step back, one step forward, one step back and you're just doing that for you know, a couple of weeks before things really start to open up. that can become a little draining.

It can get a little irritating and so it's a good opportunity to step back practice that mindfulness that we talked about. especially in. FOMO Fridays Do your meditation remind yourself you're the same trader who had this green streak or had this great green trade and you know you trade The market you're in, not the market you want to be in. So sometimes that means just sitting tight a little bit until the next hot streak opens up.

All right, So that's it for me. I'll see you guys back at it first thing tomorrow morning. All right bye everyone, if you're still watching, you must have really enjoyed that video. So why not subscribe and get email alerts any time? I Upload New content.

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