What's up everyone? Alright, so here we are. This is the second red day recap for the month of July which you know, got my calendar right here. It's a little disappointing. never like to have a red day.

They'll come into the market expecting to lose money, but today we just did not have a lot of momentum. I'm red on four out of the five stocks I traded and you know I I wish I'd taken the cue after I was only up $120 on the day just to walk away at 10:00 a.m. But I kept trading and I just had that final trade that was a good $3500 loser or whatever it was and boom, that was it. So you know we'll break it down in the recap.

It's one of those things where a couple steps forward, a couple steps back I feel good that even when I hit that $3,600 lows loser, they didn't keep trading I was just sort of like, you know what? that's it I'm done. No reason to hit my max loss today of 5,000 I'll just walk away and come back tomorrow. My best chance at having a big winner is tomorrow morning. I Knew it wouldn't be today just because there was just not a lot of momentum in the market.

So you know it's it's important to trade the market you're in, not the market you want to be in today. I Wanted to be in a hot market I traded the size of a hot market I was aggressive like it was a hot market but it wasn't a hot market and so I lost money. so it is what it is. We'll break it all down in today's midday market Recap: What's up everyone? All right? So midday recap today is gonna be a red Day recap.

It's the second red day for me of the month, but you know what? it's not that bad relatively speaking because I've been doing a pretty good job keeping my max laws or keeping my losses tight. So I'm not actually hitting my daily max loss. My daily max loss is $5,000 which I know as a beginner trader probably seems crazy, but for me that's that's really not even. I mean it's not a good day, but it's not that bad of a day.

Yesterday I made 5,000 the day before I made almost 9000. So you know having a $5,000 max loss is basically just giving back one day, maybe two days of profit and so I can make it back quickly. What's important is having that max loss now. Today 1:00 p.m.

Eastern we're hosting our free workshop. This is an Encore little workshop that we hosted last month. We had an awesome turnout and we have so many people register and so many people attend that we ended up blowing out one of the servers at the place where you're hosting the webinars. So today we're hosting our Encore.

It's gonna be a lot of fun. We're limiting the seats so we make sure that everyone gets in. So I want you guys to register you guys watching on Facebook Live! Click in the description below. register this workshops gonna be a lot of fun.

Those of you who are watching later this afternoon on YouTube You're gonna have missed the workshop today at 1:00 p.m. but you can register for the next one and I gave you guys heads up by telling you yesterday and the day before that we were hosting it. So if you're just watching this video for the first time on YouTube then stay tuned. We will have another workshop soon.

All right, so that's coming up at 1:00 P.m. Eastern And one of the things I'm going to talk about is the importance of having a max loss. It's how you minimize your drawdown. There's no such thing as an equity curve that just goes straight up.

Every single equity curve goes up and down. up and down. up and down. You want to be able to minimize the down.

You don't want to go up and then all the way down, then all the way down and be going lower you want to be, generally just continuing to go up. So for me I put the max loss at $5,000 and losing 3,600 today is within range. It's not by any means the worst day ever. it's just not.

You know, it's just. it's a red day and it's kind of just nothing else to say about it. Beyond that, it's not. You know, a really a big deal.

So all right, um, let's put up a screen share here so you guys can see what I'm watching. All right, So did you do - All right. I'm just gonna drag up my training window so you guys can see the P&L So I finished in a day down 3,000 $649 Second red day of the month and you know for sure it's disappointing. Being red on four out of five names is not fun.

You know I don't come into the market every day intending to lose money I come in intending to make money. but the reality is some days you lose. So as of today I'm gonna be up right around. Let's see 10 about 12, 13, $12,000 on the week.

And if you had a job where you made $12,000 a week consistently, you know every single week you'd be feeling you'd be feeling really good. But the way it goes with trading is that you'll have a week where you make twelve thousand. but you actually made twenty thousand and lost eight thousand and you're up net twelve thousand. So it's like you feel like well, twelve thousand is good, but it sure would have been better if I hadn't lost that eight thousand dollars.

Let's say you always feel like jeez, if I could have been a little bit better, if I could have maybe minimize that loss or not taking that last trade I might have you know been in better shape today. And so this is a day where I'm a little disappointed in myself for being as aggressive as I was on staff because it was not really a good day to be aggressive before I even took that trade I was I was actually only up a hundred and thirty five dollars today like I wasn't I wasn't up that much and so the very first train of the day. Well, let's just start at the beginning. So every single day starts the same way.

we go over the Gap scanners. All right. So let's pull the Gap scanners up here. Timeframe Historical Date: So 909 this morning is fine.

So these were our leading Gap. errs. these three were the ones that we were watching the most closely see: NT F Ize A and NDR A. You'll see that I actually didn't trade any of them because none of them really were that great.

Once the bell rang C NT F the bell rang and this thing just sold off. it's been week. All right, Ize A The bell rang. it popped up a little bit, but it didn't hold that level and it came back down so that one's no good.

And then ndra the bell rang. It popped up for like a fraction of a second and it's just sold off from there. So it's just been week. So the first stock that I traded was not off the Gap scanner but was off the high a day momentum scanner.

So very first stock. we're watching the scans watching the scans and we see CN so so we see C NT F but I wasn't interested in that one. so I'm still just watching the scans watching the scans and we see staff all right. So someone mentioned in the room they said hey, take a look at staff, it's starting to pop up and I looked at it and I was like alright I see what's going on there So when we saw staff, it was popping from about $3 up to 325 and I jumped in at 324 and then added at 330 as it was squeezing up.

I ended up selling half of it at 326 for basically a loss more at 327, the rest at 328 and so on that first trade I actually lost $9 Okay, so hey or made $9 It was basically a break-even trade and hit a high of 41, but it didn't hold up and it came back down so that one didn't really work out now. I got back in staff remember I mark high a day high a day is 41 so I had high a day on watch it's going sideways and then it curl up right here. So I got back in this a little bit later with 10,000 shares at 36, 40 and 40 and I sold it at 50 and 53. I tried to add at 50 but my order got rejected because I had not lifted my max share size from 10,000 shares.

so my order got rejected it 250 or 350 and so I ended up selling at 50 53 and the rest at 45. So on that one I made about 900 bucks which was a good trade that was actually the best trade of the day. and I mean it was a breakthrough high of day right here. it done, sells off, pulls back and is consolidating and I got back in it right here as it started to curl back up right in this area.

So I jumped back in at let's see, let's go back I got back in, let me go down here at 338 and I added it 347 and then I added at 349 and 355. So on this one I overrode my max share size of 10,000 shares and I went up to 15,000 adding it 55 because I was looking for it to break over the high a day and do kind of what it did here: break high a day and squeeze up another 10 cents. So I was adding here for the break of 60 expecting it to go up to 70, maybe 75, or 80, maybe $4 and what ended up happening is on this next candle, it dropped all the way back down to 29 and then it went sideways for a second and then it dropped all the way down to 313 and so I stopped out 15,000 shares at 328 and 321 and so there I lost about 3,000 dollars and went from being up 900 on the stock to down 2,300 bucks. And you know it's kind of annoying because I you know I I could have sold the whole thing in 55 but I added it 55 right? so I could have taken profit but instead I added and then I stopped out and gave back the profit I had and it turned into a into a loss.

So this is a little frustrating because you know I could have walked away green on the day if I hadn't been as aggressive. However, the thing is, you never really know for sure I mean I guess my accuracy is about 70% and I can say that over the course of years and years of trading that my accuracy is between 68 and 70 percent. I'll just show you here where I base that number on. So this is like two years of trading trading records and you can see the accuracy right here.

70 percent. That's over the course of 2426 trades. So I've got a lot of historical data here that helps back up these numbers so it's a million dollars in gross profit just about all right. So I'm right about 70 percent of the time.

Now this is one where I got a little aggressive and it just you know it didn't really pay off, But what's interesting is that earlier this week on M TSL I kind of did the same thing you know this one and all of a sudden it dropped down and then as it surged up through the highs I got aggressive on it and we got that squeeze all the way up to. you know whatever was three dollars and 20 cents and I made $80,000 and then that one I had 20,000 shares. So you know, stepping up to the plate and taking a big-sized when it works. it works.

and when it doesn't work, you know you'll lose 3,000 dollars. and that's kind of what happened today. So the upside potential when it works is 5, 8, 10, maybe even 15,000 dollars of profit. And the downside when it doesn't work, you know can be anywhere from three to four thousand dollars depending on your share size.

So I feel like you know an MT SL I was not up that much on the day before that trade. Let's see I can actually tell you where was I um I was up okay well I guess I was up 1,900 bucks before that trade. So I was in pretty good shape today so maybe that that gave me a little more confidence to be aggressive. but yeah I'm staff you know I really wasn't up on day so taking that trade it was a little higher risk.

but I don't know. it looked good to me. First daily candle to make a new high was over 360 but we hit that level and couldn't break it. So anyways, on this one you know this is just part of the 30% of the time.

Whatever that, I'm wrong. It's not necessarily that I did anything wrong it just for whatever reason today that set up on that stock didn't work so staff ended up being a loser. and then the other trades you know CCI H popped up. This is a Chinese stock.

You know it kind of all of a sudden goes from a dollar 25 to a dollar 65 I made 220 bucks on it. kind of a small winner YTN hits the scans, it pops up, doesn't hold up, sells off, lost 200 bucks Jagex I Don't like this stock at all, but it was starting to take off so I was like alright I'll give it a chance I Got in for the one-minute micro pullback right here, but I got filled at 86 and then it dropped down. So this is an example of where a bad Phil can kind of hurt you because if I got filled at 80 the right spot, that actually could have been a winner. So kind of a bad fill there.

Lost 500 bucks a bi L this one you know it pops up I jumped in for the break of $8 I was in at 795. it hits a high of 824 and then it drops all the way down to 750 so it's a 75 cent drop. It pops back up right here. I sold some kind of breakeven and then I stopped out the rest as it came back down.

So I lost 800 on that one. So you can kind of see Today's a day where we just didn't really have strong momentum. You know some days everything is strong. Every stock that hits the scanner takes off.

It's winner after winner after winner. Today wasn't that kind of day. Today was a day where nothing was really working and for that reason alone I should have been more careful on staff I Think what I was sort of thinking was that in the past a few days things have been a little choppy in the morning and then all of a sudden one stock takes off and makes this big move and so I thought well maybe that will be staff since it has this kind of daily set up and the volume seems to be coming in. so maybe it's worth the try.

but you know on that one I was just wrong. So anyways there ch this one al QA hits the scanners, it pops up and sells off I don't know where you know this one came from I was watching it over the high a day didn't break that level. so no trades Ize a didn't trust it a couple other stocks on the scans but really I mean this is kind of unusual that this is our entire scan for the day. I Mean it.

This is not a lot of stocks on there, right? We're talking about two hours of trading and there's really only a small handful. So that just goes to show that today we didn't have a lot of momentum. so you know that's the way it goes. Some days are are hot and some days are a little cold.

I'll be back at it first thing tomorrow morning and you know making back 3,600 bucks is not hard. That's one good trade. Yeah, so that's the important thing with knowing when to walk away. Today is not a day where to me, it's worth continuing to trade to try to dig myself out of the hole because we're just not seeing good momentum.

I'm much better off walking away today and coming back tomorrow, refreshed, and hopefully tomorrow, we see better opportunities. All right. So that's about it for me and brings down my profit on the month a little bit. From being up, let's see around 27,000 on the month to being up.

Maybe closer to twenty two thousand or twenty three, Twenty four thousand. Whatever it is. But that's okay. You know it's a couple steps forward.

Small step back. a couple more steps forward. Small step back. That's what it looks like to grow an account.

It's not straight up, it's it's always. You know, a little bit up, a little bit down. you look at the overall market. It's the same way it's it's anything you look at.

it's is how it goes. You know it's it's up. Everyone gets excited, the exuberance, a little bit of fear you pull back back up, back down, up down down. You know it's just the way it goes.

So right now, kind of a little bit of a red day, but nothing off the charts. nothing to get bent out of shape about. I'll make it back and you know I'll just keep keep grinding. keep working.

I've still got that big goal in my mind. the 1 million dollar mark and I'm at about whatever. Six hundred and seventy, four thousand dollars. So 326,000 to go.

I've got the countdown up I see it every day and you know I've got my sights set. It's just gotta stay focused. You kind of think of this as submit. This is a marathon.

This has been a year and a half right now in the making and it's gonna be two years before I cross the 1 million dollar mark. So it's a two-year long marathon and you know within the marathon there have been some periods where you know trading is really high and I've had some really great success. Then there's been moments where it's been really hard and it's been really frustrating. but you know these are these are all just you know kind of the ups and the downs that come with being on this type of journey.

So the big picture is that it's still really good. I'm 67 percent of the way there and I'm looking forward to crossing the 70 percent line, right? That's kind of. You know what it's at? Yeah, it's seen at the Tour de France I mean some of the clients. Sometimes you're on a mountain climb and it's really, really hard and then another day you're on the flats and it feels good and you've got the wind at your back and you know these are all the things you know that the traders do deal with.

even if you're not. Right now on a conscientious $500 to $1,000,000 challenge, you're on your own challenge. Whatever, it is, right? You know? Whether it's to make a thousand a week or a thousand a day and so you'll you'll have days where it comes and it's just easy in other days where it feels like a little bit more of a struggle. But anyways, you know, feeling good here? Today Even though it's a red day, it's been a great week.

$12,000 is fantastic and most likely tomorrow we'll take a little money out of the account because I don't need to be sitting at $100,000 in equity. I can drop it back down to 80 and then you know, make another 20, drop it back down to 80, make another 20, and then that way pretty much every two weeks. I'm paying myself $20,000 I mean I could do it every week, but this is just kind of the routine that I'm in. It seems to be working so anyways, that's about it for me here this morning and again, those of you that are going to be in our workshop 1 p.m.

Eastern We're looking forward to it's gonna be a lot of fun so we've got about an hour and a half until that. Those that miss it, we'll have another one before too long I'm sure so you can stay tuned for the next one. and I will see you guys all back here first thing tomorrow morning 9:00 9:15 Try to finish up the week strong. All right, I'll see you guys in the morning if you're still watching.

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