I know everyone's very excited about this coinbase direct listing, and here are my thoughts about trading it. So i've been trading a lot of these crypto stocks, such as mara riot and some of the nft names a lot of the gap. Ups um. So let's go over some of the trades right now, so the first trade i took today was actually the the stock ino uh.

It was for a loss at first and then for smoking and then pretty much like a break, even trade. The range is just not as good so far um this week, uh with ino the this is a vaccine stock. This is not crypto, not nfts is a vaccine stock. If you look at a daily chart, this thing was like the hottest vaccine stock uh last year.

Around june and july, when it ripped from 13s all the way to 30. ever since then, this thing's just been kind of slowly selling off, and today they had like a pr uh about their vaccine and how it's like, oh potentially, you know effective against the the Variants and whatnot and the stock gapped up from nice all the way to almost eleven dollars like it touched um a 1080s pre-market and they just tanked uh. And if you look at a daily chart, this thing was basically gapping up to the daily resistance levels. Um up here around 1050s no 1080s, no not exactly to 11's.

It didn't get get there, not quite um and then at the opening. Just like dumped um, i had very small starter. I knew it was early. You know it was so heavy early on.

So i was thinking okay, then maybe we can. I can put on like a small starter on the short side and it'll fade, and i kept the stop actually pretty tight. So you know once i reclaim tens, i immediately stopped out so the first trade on the short side, small size. It was a loss, uh and then later on.

It ripped to you know: um 10. 30. Actually it wasn't that big of a rip. I was thinking you know, maybe 10 50s and i'll be a better re-entry or even pre-mic highs.

But this thing just couldn't um. You know kept on rejecting. You see the wicks up here right around ten thirties um and i'm i'm looking on this on the two-minute chart um it just couldn't. You know, break out and once they started breaking down, i just shorted uh, then 10, 20s and uh.

You know again starter size. I didn't want to scale into it because it feels like a chase if i had gotten around like the 10 38 sure that would have been better entry. But since i already took a small loss early on, you know with the small size shorts about 10 20s. I covered it all around 9 80s.

I was hoping for like at least like a v wap bounce to reshorted around tens, but it just you can see this thing that literally you know bled down from the 980s my cover down to night, 10 and uh, because again because i took the first loss - Small size and the second one was like a small profit. This is a break-even trade, but this is what i mean by a lot of these are gap-ups in this market. It's not holding so even though you know ino, it might look good at the time pre-market. It looked pretty strong, but the opening like the the price action, which is a lot of selling and couldn't even you, can see when it bounced.

It didn't even go that high. So you know if the stock like this is, you know gapping up to daily resistance. Um, you know, don't don't be that person buying a breakout at resistance level. Just just don't do it.

Okay, um, but you know i didn't do that. Well, on the short side, obviously i should have stayed with it should have scaled anymore, but really i was trying to be patient and wait for the bounds um, but just didn't happen now. The next trade is one i'm actually very frustrated about is qs so um. This thing gapped down with a pre-market short report um from i forgot: what's what's the name of the fund um on uh scorpion um, so they they had a hit piece um on why this back? Is you know it should be worth? I think they say like ten dollars and uh.

If you look at the charts, this is a breakdown, a very clear breakdown on the daily, especially ones that 40 broke down. You can see that 40 dollars. I guess, like a you, know, psychological daily support that was held up the last few times it broke down today. So with this gap downs i never want to chase, especially when you had the gap down so much from 40 dollars down to 36..

I had the right idea to wait for the balance to 39, but my first short, i had a very decent size full size over here i scaled in, and i kept my wrist way too tight. You can see. I stopped out right at 39.06. It ripped a little bit after my stop um to 39.40 and immediately reject it back down, so i got stopped on full size.

Unfortunately, so that was a that was um. You know a decent loss, let's just say that uh. So man that was so frustrating i had the right idea. I got stopped out from uh, you know keeping my stop too tight and then immediately started working.

So, even though i did go back and revisit the short side, i was scaling it a lot slower and a lot more conservative, just because i took the the full size loss already, so this name the the the the the short later on it did work out And it did become like a small profit, but this trade overall was still red just because i got stopped on full size and later, even though i was scaling in slowly, i never got to full size and then i kind of got chopped up with the re-entries On the short side um, so you know i scaled in around 38 40s i added some on the breakdowns and especially once that 39 rejected again i scaled it again. Um i just kept on trying to add uh, but i held on for a long time. It seems like it was gon na consolidate and form like a small trend to go up higher, but eventually it broke down by by then by. I still didn't get a full size just because, again of that full size stop early on um.

I did like try to write out to like 37 and after i got out of my re-entry. This thing faded all the way down to 36, so i'm not gon na lie. I'm a little bit frustrated from this trade just because uh yeah it was the stop, was kept too tight, but also in this market. Keeping.

My stop tight has been saving me in the especially this week from the last couple of days too. So you know like i'm not, i shouldn't get too frustrated about this. The loss was okay, it wasn't like a big loss and later on did make back some, but it's just a little bit frustrating to me that you know i had such a good entry and then such a good average. After the initial scaling, i had like a like a 38 80s average, and then you know eventually it did work but um and then and what's frustrating is that once it broke down? Finally, it never bounced back for, even if i wanted to reshort it and re-enter the stock short it never bounced back and just like bleeding out now to the low of the day.

This is probably going to go lower the next couple of days too so qs again, it's the short report and also um. It broke down such a big level on the daily chart. So so that's why that was my short thesis right thesis wrong timing. So you know, and in day trading it's very important to have both you want the right timing and the right thesis so loss on this one got ta.

Take it out on this can't wing everything um. So next one is taop. This one was pretty straightforward and again this one - i i never got full size on this, just because it never bounced after the open uh. This is uh up on, i think, like nft or like crypto crypto news, something like that um but uh again in this market.

The gap ups are not working, they are not holding the gaps and you can see. I shorted this three 850 and i covered my pre-market uh small position 70s and had like a last small piece left and i wanted to re-add if it pops at the open. But this thing at the opening, which is like dumped dumb city, no bounce whatsoever. So um i covered all of it here around um, seven, uh, sorry, six, seventies and um.

I never got full size. I only had like a partial size, one eighth position - um small wind on this, but then you can see it just just fade it again. Small cap, breakouts um, not working in this market, don't be that person buying the high of the day breakout on the small caps. So, just just a warning: if you're, you know a lot of chat room alerts, they tell you to buy at oh, buy at eight dollars and sell at 8 20.

you buy at eight dollars. You're gon na get dumped all the way down to 7 30.. So that's terrible risk reward um, just just don't buy breakouts on the small caps, especially not in this market. So that's the aop, so my last trade is mera.

So this is a tiny, tiny scalp on this um. So you know the you remember yesterday was the coinbase ipo and i've been getting a lot of questions from people saying? Oh, how do you trade coinbase? Are you going to trade, coinbase uh? What are your thoughts and let me correct myself, it's a direct listing, so it's not an ipo, it's a direct listing such as palantir, spotify and there's a couple other direct listings, but here are my thoughts on the coinbase ipo and my thought is just don't trade. This direct listing uh when, when a stock you know is initially listed, you have no support resistance, support or resistance. You have literally one daily candle.

If you look at the this coin, based stock chart like you, don't have any levels on the on the daily right. You only have yesterday's level in which this thing spiked to you, know 420s and then just sold off all the way back down. So you have no daily resistance and 80 supports. I mean sure you can say: oh there's resistance at 380., but that's really just not enough information, and you know today like how are you going to trade? This? Are you just going to use this random previously closed support and hope that it holds maybe like it's holding right now, but it doesn't have to right.

That's why i usually don't trade any direct listings on the first few weeks and then and same as ipos. I prefer not to trade them the first couple of um days, especially so that's my thoughts. I i feel, like you know, like sure you could probably scalp this but um. I don't see an edge in trading this um and and when we're trading we need an edge.

We needed, like an actual plan, an actual like support and resistance levels to plan it all out. Otherwise, it feels like a gamble like picking up. Oh, is it going to go up or down? I literally have no idea. So if you, if you feel like you, have no plan, you can't plan with any of these price levels, then it's best to just avoid it.

Sometimes the best trades is no trade. So that's my thought on coinbase, but you know, as i mentioned many times before, i do trade stocks like mara and r. I o t right. So those are the crypto related names, that's related to the bitcoin mining space.

So, instead of coinbase, i would much rather trade these ones, because you have actual daily support and resistance levels and it's a stock i've traded many times in the past before m-a-r-a mara. Today um it was a little bit strange. I think they are starting to kind of pull themselves away from the crypto the bitcoin prices today, uh bitcoin, you know, didn't really break down that much, but this thing was just like selling off the entire day um following yesterday's action, so i think that was that Was kind of curious, but i didn't trade this a whole day um. I wish i showed it, but i did not uh i.

I scalped this for, like a small long after this forty dollars, breakout um my small loss here and then i sold all the lung into like tiny scalp. I didn't like the action. I didn't think it was going to go all the way back to 41s and if it gets to 41, that's where i was looking for the short again just a small scalp. It was slow day, i'm just looking for like base hits uh.

So i shorted around 41 scaled into it and now all out um, like you, can see after i a little scalp and i just like kept on fading down, but small long, small profit, small shorts, more profit. So it's definitely one of those weeks where, like a small winds added up so even with my loss on qs, i'm still ending the day like super small green, like very small, very small, so not not anything to brag about, but very smoke green. And i think in this market you just have to be patient and wait for the entries doesn't matter whether you are just like going for like a small uh, scalp long or short, or going for like the big picture trades. It's so important to like wait for your entry so going through the recent comment section, there's a lot of people asking where to get this hat.

So this is the hat the humble trader hat it's a mesh hat. I especially wear this when i have bad hair days, so, if you're day trading on the west coast uh you wake up first thing in the morning you roll to your computer uh. This is a perfect hat for you because it hides your bad hair. So today my hair is it's not terrible, but the last time it was so bad.

I had to wear my hat, so i'm going to call this the humble trader, bad hair day hat, so you can get this online on my website. Humbletrader.Com - and you know you can grab this hat and there's like other stuff like shirts and everything else, but so far the hat has been very popular um. So it's like a treated hat for you, and also i've been getting a lot of questions on where to get started. If you are new to day trading, i always recommend to go through the free materials i have on my youtube channel.

In fact, i have a playlist specifically for you, so you can watch the videos for free. I even ordered it in the in, like the arrange it in the order. I think you should watch it for so. If you're brand new check out the playlist i'll link that, in the description below it's a it's my day, trading for beginners 2021 playlist, if you have any more questions, feel free to leave them in the comment section below.

Thank you guys for watching and i'll see. You guys next time hey guys thanks for watching. I hope you enjoy the video and the bad jokes if you want to see more day trading content, make sure to subscribe and follow me on twitter and instagram for more. If you like to trade with me daily and get my free weekend, watch list and trading journal make sure to check out the links below for more resources.

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