Hey everyone Alright, so we're going to do a special episode here. This is a new segment called Behind the Trades and today we're going to talk about basically a recap of some of the best and worst trades of the week. I'm going to go over my stats for the week and also talk about finding a quality setups and one of the things that I struggled with this week, which is going to be sort of a topic of this episode is maintaining emotional composure during choppy trading markets. and that's really what we saw for a lot of this week.

All right, So that's the agenda for today and at the very end, we're going to have a segment called Ask the Warrior so you can ask me questions. Make sure you get your questions ready and I'll get those answered for you. All right? So we'll start by looking at the weekly stats. the big picture.

So and this is specifically for my small account now: I Finished the week with five thousand, three hundred and Forty Two dollars in trading profits. Which means my ending balance is fourteen thousand, five hundred and Eighty Seven dollars now I Started with five hundred and Eighty Three dollars on January 1st which means I'm up over twenty four hundred percent in the last. This is day 18 of this small account challenge Now today I'm up two thousand, two hundred and Forty-nine dollars which makes it my best day of the year. Now through the last five days this week, my accuracy has been 80% My profit loss ratio has been one point two six to one so 19 cent average winners versus 15 cent average losers.

Which you know it's not bad obviously. I Made a couple goals at the beginning of this year. one was to increase my accuracy above 68% to try to get closer to 70 to 75% So this week I've you know I'm doing that and my second goal was to try to increase my profit loss ratio to 1 point 5 to 1 ideally getting closer to 2 to 1 and I wasn't able to make much headway on that this week. I Think one of the reasons is that a few of the trades the the couple of losses that I took and I only took about 16 or maybe 17 trades this week in the small account and I had three losers and those losers were losses of 26 cents I think 7 cents and there was another one I can't remember what the loss was might been 15 cents.

So generally speaking, the losses weren't that big, but you know I had one that was on the bigger side 26 cents and that of course draws down. You know my whole ratio it and you know that's the result. But remember that this profit loss ratio guide here if you trade it one to one, you only need to be right 50% of the time. And for those of you watching on Facebook live I'll show you you only need to be right 50% of the time.

when you trade with this one-to-one ratio. So if you trade with the two-to-one ratio, right down here, you only have to be right 33% of the time to break. Even so, I was trading sort of in between these two. you know, one point, two, six to one.

Which means my accuracy break-even point is probably around 40. you know, 46 percent or something like that. So the fact that I was trading with 80% accuracy is why I was able to make five thousand, Three hundred forty Two dollars this week. Now the exciting thing is that this week I broke through the twelve thousand, five hundred dollar threshold.

That's what you know. that's kind of the line in the sand that I really wanted to break this week because that meant I'm halfway to 25,000 dollars and I was basically there yesterday. I Started this morning with twelve thousand, three hundred thirty-eight dollars and then I made twenty two hundred, twenty to fifty. So I'm right under fifteen thousand dollars.

which means I'm about ten thousand dollars away from twenty-five thousand. And remember also that I said I want to be at 25 thousand dollars of total equity by February 1st I'm sorry March 1st but I was hoping I might be able to get there by President's Day weekend which is a long weekend. so I'd really like to be able to celebrate the on weekend knowing that I hit that goal. That means I have three weeks to make 15 to 10 thousand five hundred dollars.

Okay, so I need to average about you know, thirty five hundred a week and based on my gains this week of five thousand, three hundred, forty two dollars. but I should be able to do that. Hopefully I will be able to do that and I'll be able to enjoy Presidents Day weekend. But you know if things slow down then I'll just you know, just have to go with the flow.

and and that's that's part of the deal with trading. Okay, so this is a that's the big picture of, you know kind of broad brushstrokes of my small account. Now during the week, I was also trading in my regular-sized account and in my regular account I trade a slightly different strategy where I can be a little bit more aggressive I'm not as worried about losses I'm not trying to, you know, have really really high consistency I'm more looking for homerun trades and in that account, I made about eleven thousand dollars and as a result I am now up on the month thirty nine thousand, one hundred and twelve dollars making this the best month better than any month I had in 2016 which is really exciting so that's a great way to start the year, you know? January Great month and we've still got two days left. so you know I'm hoping I think $40,000 will be achievable as long as I have some good trades.

Monday and Tuesday 45,000 might be fifty thousand? You never know I mean maybe if we get a really good setup, you know I'll be able to I'll be able to do that now. That type of game probably wouldn't be in my small account, it would mostly be in my bigger account in my bigger account. I've been taking 10,000 shares on most of these trades and when I get a nice 30 40 cent move, you know it's three four thousand dollars. You know? Yesterday I made seven thousand or six thousand in my big account and it's just you know, 10,000 shares, 60 cent move.

There's six grand, so you know obviously I'm not trading that aggressively in my small account. The reason is because if I take 10,000 shares and let's just you know, run through the scenarios: Number one: What if I lose my internet connection and I'm offline and the stock drops 50-50 sets I'm going to lose $5,000 and I'm going to lose. You know, 40% of my account I can't afford that. Number two: What if I get into the trade and I don't lose internet connection but it just drops really hard I have trouble selling? Maybe my platform goes down? you know there's a connectivity issue I Mean there's just so many scenarios where something bad could happen I cannot empower any single trade to potentially ruin this challenge and that's why I have to be a little bit more conservative on my share size.

Okay, so as a result, you know, even though I took some of the same trades, I wasn't taking as much size in short, trader as being more conservative and so my gains are a little bit smaller this week compared to my big account. but I'm at a point today where I've got 83,000 dollars in buying power so I could take 10,000 shares. but I want to make sure I you know, kind of take my time and don't get you know, too carried away I don't want to get myself into a situation where like I said I'd get back a lot of profit too soon. All right.

So now let's talk about the best and worst trades of the week. Now that we've talked about the broad brushstroke, my best trade of the week was FF HL yesterday and in this trade I made in my small account nineteen hundred dollars and you can see here my entry. Well, we're watching this pre market for a gap and go trades. I was watching along over the pre-market high of 359.

the market opens and it pops up just a little bit and I got in at 370. Unfortunately I only filled 70 shares I wanted 2500 so you know my 70 shares. We squeezed up to 460 460 and then we pulled back and I added 4,000 shares at 460 and sold them at $5 So in that squeeze right there, you know, four times for $1,600 Then we pulled back off of five and I added for a second break of five dollars, giving me another two hundred three hundred dollars profit. The sad thing is that this could have been a five six thousand dollar winner in my big account.

if only I had been able to get my full order filled. But this is sort of the luck of the draw where you know sometimes you know you, you get yourself set up and it just doesn't. It's just for whatever reason your order doesn't fill and you know you got to sit on the sidelines. But even still, I made nineteen hundred dollars on that gap and go trade two trades four thousand shares each.

First entry was 370 70 shares and then I added twenty five hundred at 460 right around 460 and then we got to push up to five pullback and I added right here. You can see on this one-minute break I added here on the one-minute pullback in anticipation that we would break over five dollars. and when I got in here, I got in low enough that when we broke over five, I was able to sell for profit, but we very quickly rolled over and ended up being a false break, which was disappointing, but nonetheless, being quick you know, punching the hot keys I Was able to get in, get out, and book a couple hundred dollars on that one. Now this is probably going to be a trend, hopefully not.

But my best trade and my worst trade of the week were both on the same stock. so my worst trade of the week here also on SF HL And this is what the $300 loss for me I Got in here and I wrote a five-minute pullback. This is actually a 1-minute pullback here. I Got in at four dollars right at this one-minute candle.

Here you can see we got this move up. a little pullback. I Got in here thinking to break over four dollars would bring us back towards 450. maybe even back towards high a day.

So you can see here. getting in for the first candle, make a new high right there. Then it just rejected and dropped down very quickly. so on that one I lost a full 15 cents with 2,000 shares.

but I had reduced my share size to only 2,000 because I knew I was getting in in a place that was a little higher risk. Now the big issue with this set up to me is that we retraced more than 50 percent of the move. The open price was 370. We pulled all the way back to 370.

I mean we pulled all the way back to that level. So to me I should have been a little, but I was I was pretty cautious because I took only 2,000 shares instead of 4,000 But I think I could have been maybe mindful enough that I could have just passed on the trade completely because of the fact that we were traced too much. you know, even though we were consolidating above the nine moving average which is good I think it had pulled back a little bit too much and I knew that it wouldn't be back on the Hyades scanners until he got back up above 520 which was high a day. So to get into $4 knowing we're not going to hit high day scanners until we you know hit 520, you need to have a lot of people that are watching the stock and most people will watch CD stocks because they're hitting scanners and we know it's not going to scanner till it's back at the highs.

So I think on this one. I maybe should have just passed on that trade. It's been hard this week. We've seen a lot of rejections at half dollars and whole dollars where the stock breaks over this level like this and then when it comes back down below it, the people who bought for the breakout like myself end up stopping out.

Number one, Number two: anyone who wants to short goes and takes a short position and then you know it drops back down. So you sort of have these. You know these. these two groups of sellers, both you know, piling on these stocks right around hold dollars and you know my feeling on that.

I Know this has probably been a fun week for short sellers because we've had such strong rejections at these levels. At the same time, you know they'll say, well, these stocks are up for Noga reason. So I'm going to short them fair enough. You know, some most of these stocks did have news.

s Fhl had news, but maybe it's up. You know, maybe it's irrationally strong. So okay, they want a short to have the highs and ride the move back down. That's fine.

But you know what creates parabolic movers? The ones that go up one hundred, two hundred, three hundred percent. What creates that? Two things: One, the stock starts squeezing up, usually on some type of catalyst. Whether it's a technical breakout or a fundamental breakout, it pulls back and short sellers short that first pullback. Long, Biased traders like myself see the pullback as an opportunity to buy.

and so we buy the first Campbell's to make a new high. and then as we squeeze through the high a day, I Often add at the same time when we make new highs, anyone who shorted early needs to cover their position. So now you have two groups of buyers buying. These breaks: short sellers covering buying to cover and lawn biased traders buying to ride the momentum.

So if you didn't have people shorting early, you wouldn't get these parabolic moves. Those parabolic moves. are the result of early shorts having to cover, plus long biased traders. One to get in to ride the momentum.

It's it's those two groups that create these movers and you know the market really trades on. You know this collective trading mentality where you know if you've got twenty thousand traders who all think this is a good opportunity for a long bias, you know a long position, they would have a long bias on it. Well, they're going to buy it, the stock is going to go up, and then again, you know you multiple you say? Well, you know half of them have a short bias and want to short the tops. But eventually, when you have a stock that's really, really strong with a really good catalyst, those short sellers are going to end up getting squeezed.

And that's the type of thing that we saw on Dr. Ys when it went from four dollars to 120. People are saying it's irrationally strong and it was I'm not going to deny that it wasn't but the chart in that case. just continue to run and you know if you're shorting it, you've got to know when to throw in the towel.

And whenever you throw in the towel, you're a buyer. and you're buying to cover. And that just adds more and more buying. And that's when you create that imbalance between buyers and sellers.

Now, the tricky thing is, we don't know when the stock is going to squeeze from. you know, let's say a dollar eighty to 380 and then pull back and when it's going to go to four 85, 86, 87, 88, 80 That's the real challenge with you know both. I mean that's challenge of trading in general. Whether you're along by a short buys, you never know how far these stocks are going to go.

So as a long biased trader, you know if I get into a stock for a whole dollar break and it gives me a hard rejection like we saw an SF HL here you know or that we saw here as well I stop out and you know when I stop out I'm a seller and that of course helps anyone that's shorting because you've got an imbalance between buyers and sellers. But on the flip side, you know when these stocks start to squeeze up first candle to make a new high. buyers come back in and anyone who's short needs to cover so you know I hate to get into. You know the whole thing is like short versus long than the bashing that some people do.

You know you guys know that I never do that I'm not I Don't criticize someone who has a different point of view want to trade than me, but at the same time you know it's It's important to be mindful that we're all trading these same stocks and these stocks whether they're going up or going down, are impacted by collective trading mentality. So it's not really that there's a you know, a right or wrong. A stock can be irrationally strong or irrationally weak. and we just we have to trade the chart.

All right. So a little bit of a tangent there off of the best and worst trades of the week. Now one of the things that I struggled with this week and this is going to be the topic of the day. One of my struggles was employing mindfulness.

all right. So this week was tricky because we didn't have a lot of good follow-through Now when we have a slow week, you can do one of two things. You can take one of two paths and the first path is that you feel frustrated, but you're not hitting your daily goal and out of frustration you decide to fight the market. You trade every day till 4:00 p.m.

maybe you even start trading after hours you start to feel fatigued, you feel frustrated, and you're more apt to make mistakes. And that's a past that I've taken on many days days where you know I lost $200 in the first hour and I spent the next four or five hours trying to make back that 200 instead just throwing in the towel and saying today is not a great day I Kept trying to fight it out and it took me a long time to realize that that was not a good path for me to go down on a day-to-day basis because we're all going to have days where the markets not on our side and this whole week for me has been, it really wasn't very good until Thursday and Friday Thursday and Friday were the best days of the week and those two days made up I'd say like 85% of my profits from the entire week. All right, Monday Tuesday and Wednesday Let's see Monday I made 319, Tuesday I made 800 and Wednesday I made 468 and then Thursday I made 1,900 and today I'm up 2200 so you know you can. You can see that when I'm connecting, I'm connecting and when I'm not as just kind of like grinding it should sort of treading water.

Not to say that 400 or $500 isn't good, but it's not quite what I wanted to be achieving. And so here's the deal on Monday Tuesday and Wednesday I needed to take the second path which was really to have the presence of mind to realize that the market is slow today and to simply wait for better opportunities. and on those three days better opportunities didn't come. My best opportunities were in the first 30 minutes, first 45 minutes, and by the end of the first hour by 10:30 Eastern it was done.

There was nothing really else to trade. Yes, I could have tried to stick it out I could have tried to. you know, pull up an ETS that has a lot of volatility and a big ATR. You know, try to trade gold or try to just you know, trade spy options or something like that.

but that's going down that path of frustration, fatigue, and where you're more apt to make mistakes and you're much more likely to give back profits. Alright, so I'm going to give you going to give you a real-life example of this. So this week I had to run an errand during the snowstorm and we had a snowstorm here in New England this was Tuesday night and Wednesday all right now. this errand involves driving what would typically be only be about an hour.

It ended up being more than two hours because instead of being able to drive at regular highway speeds I could only drive you know 30 40 miles an hour most of the way. and this is the same highway that I usually drive on and then I can usually drive 65 70 on right? But the difference is that Tuesday was not the right type of data to drive 70 miles an hour in the snow. All right. So let's go ahead and get this is video of me driving on a Tuesday and that was the highway and driving in the middle of the road because basically that's the best place to be and there's you know the speed limit or there's a EZ Pass or something sign But you know I'm driving 40 miles an hour and that is even that a time felt too fast.

So you know I could have chosen to beat myself up and say you know I'm supposed to make this Drive in one hour right Every single time I take this drive. it takes an hour. This is unacceptable that's taking longer than an hour. There should be a one hour long drive right and I could get flustered and I get frustrated.

But you know what some days are like this. You know we all want to get there and you know, achieve our daily goal our $500 a day. It's just like trading. You know we've got $500 a day, but not every single day is the right type of day where that's going to happen and so you can do one of two things you know.

Path one is, you know in the case of driving, you slow down and you know you drive. You know 30 miles an hour and then the second path is that you try to go 60 and you end up being one of those guys that's off on the side of the road right. And same with trading. You know you either trade smart, you minimize your risk, or you push it.

You get frustrated and you end up having a max loss. a completely unnecessary law. All right Now, Even as I say all this, it took me a really long time to develop a sense of mindfulness to get to the point where I could walk away down a couple hundred dollars and not feel you know like I was you know and just not feel really frustrated and disappointed myself. So you know at that point when I would have those days, it almost felt like I had tunnel vision like I would become another person.

I would just be so focused, completely hyper focused on I can't close down even a dollar I need to close the day green. but the end of the day, it actually doesn't matter. Today and yesterday are two days that you know in these last two days I've made. Let's see: I'm a combined almost four thousand dollars today plus seven thousand dollars Yesterday my two accounts: eleven thousand dollars in two days.

These more than make up for the fact that Monday Tuesday and Wednesday were slow. But it took me a long time to realize that. and so what changed? Well, you know I realized that I needed to practice mindfulness I needed to be mindful of my emotional state and to start to become aware of my emotional responses that I would have and how those could trigger this kind of downward spiral anger, frustration, irritation, etc etc. So how do I do it? well Aston this is what I did after every single trade I would take, I would write down my emotional state.

how do I feel right? So I just took a trade and you know do I feel happy? Do I feel angry? Do I feel frustrated? Do I feel like I want to throw my computer out the window you know and to really give an honest answer. and if the answer is anything that is likely to be kind of on the extremes of emotion which is like really really happy because that can be just as bad because you can get overconfident or you know, really really frustrated and I'm going to say you know what, it's time to throw in the towel and and just just get out, leave the office. And it took like I said a long time to get to that point. But the best thing you can do is start writing down your emotional state after every single trade just as a log and you'll start to realize that there's certain things that are triggers for you.

One of my triggers is when I have my daily goal I'm up for $500 and then I go red. When I go from up 500 dollars to being down even thirty dollars, it's infuriating. It makes me so frustrated irrationally. so it's just I feel so annoyed because it's like I had it.

It's like you had the fish on the line and then it's gone and you just let it go and you feel stupid for having that happen. You know it's your own fault, you had the day and now it's gone and you know. So I realized that's one of my triggers So you know one of my rules. during the time when I was really struggling with kind of maintaining my composure was it if I was you know up 500 which was my daily goal at the time and I went down into the Red I was done trading.

you know I'm now at a point where I can usually get myself I can usually trade when I'm have gone from green to red. I wouldn't go from my new daily goal of a thousand if I was went from that to being red. I would also throw in the towel because that's just that's a bad day. Obviously something went wrong that I lost a thousand or twelve hundred dollars on a trade.

So that's you know. One of the things that I think can really help to help to help you improve your sense of awareness. and something that you also need to be mindful of is what's going on with the overall market. You know are we having a day where everyone is trading? You know this one stock or these two stocks because you know this week lots of traders were all over Gee Lbs and you know I'll show you here Gee Lbs.

The very beginning of the week you know is Monday Tuesday Wednesday is just so choppy but so many people were trading it on Monday because it looks like it was maybe going to go parable like and so unfortunately that drew all of that collective mentality, all that collective energy onto this kind of junky stock. So lots of traders were focused on G lbs and then you know on Tuesday I can remember what we had Tuesday we had only one trade there was like nothing on Tuesday a traded BGI Wednesday we had or X and CDTI but CDTI ended up being very sloppy, just totally crushed right out of the gates. So you know this is the sort of market that we were in at the beginning the week and I said look guys, you know I want to trade just as much as you do I want to have some good gains and you know have some big winners. but I can't afford to make mistakes in my small account I need to trade smart and right right now that might mean sitting on my hands, holding my hands, literally holding my hands and saying no, Don't take any more trades, just sit, wait, be patient.

there will be opportunities to come around and maybe you've got to wait till tomorrow. So I think that sort of also comes back to embracing the concept that trading is a marathon. This is a career that you could be you could be doing for the rest of your life so you don't want to do something you know in that in one day could jeopardize your entire account right? I Mean you know I have had bad days, but you don't want to have a day that you could potentially blow up your account and it puts you you know, completely out of the out of the game. So you have to trade smart.

This is a marathon and you know every single day that you get a little bit of profit is a small step forward. A day where you lose a little bit of money. You know when you look back on it a month later you're like that's no big deal. Why was I getting all beaten out of shape about that? You know it's it was, it was not an issue I shouldn't have gotten myself so frustrated and again I say all of this.

having been at the point where I would get really, really angry, you know where I would just feel just I mean almost like you know, just completely furious and mostly with myself for feeling like I couldn't identify the right setup or that I would do something so stupid to get in this trade that high, etc etc. When you have those emotional responses, you just have to start to be aware of them and realize that those are not going to help you be a better trader. So when you feel that way, you got to just step back a little bit. Alright, so now let's have a ask the Warrior session here where you guys can ask me questions that you've had over the week that you've been thinking about and I'll make sure we answer these as best as I can.

So I love to hear how your week went if there's anything that you struggled with or your best and worst trades, etc. All right, So let's see you know in Michael Wright I Know that's the thing. I'm up, you know. had a great week.

14,000 15,000 whatever it is, I'm up. I'm up to 14,000 in the shirt trader account. but even today my last trade was a loser I lost on G lbs 26 cents with a thousand shares, you know, down $265 So I think that it's almost good for me to end the day on the loser because it keeps me humble. it keeps me from getting overconfident, and then I come in the next day just sort of reset.

and so I really don't mind ending on a small loss because it does sort of soften that that sense of confidence that you can get from having a big green day. So I think it's actually it's actually a good thing. My biggest daily gain this year is: let's see nine thousand, five hundred and sixty three dollars in my Speed Trader account on that day. I had a twelve thousand dollar winner on Dff N and I had a loser on camera but it was.

Let's see, let me scroll back. Oh cool, Yeah! I Lost 1400 Uncool. Let's see so - Daniel The best way to deal with the trader emotions. Well, you know for me, a couple things that have helped when: I used to get into the habit of you know, making rules and then breaking the rules I created a punishment of running a mile for every rule that I broke once: I realized that I would sometimes choose to run a mile so I could have the ability to break a rule I Said new rule is that you run five miles regardless of whether you break one rule or you break ten.

And after my last five mile run in the rain I said that's it I'm I really not going to break rules anymore and it just you know? that's what it took having rules and then having the discipline to enforce them. that really helped there, you know, and it may be unconventional, but for me at work and yeah, I think I figured I'd either be at the end of this all I'd either be in great shape and broke or you know I'd be I wouldn't be running anymore and I'd be making money. Fortunately, my physical fitness is kind of stabilized as that just so-so which is good and let's see So yeah, I haven't read that book trading in the zone but I did read a book I think Mike might have read that one I did read trade mindfully by Gary Dayton and I recommend that to a lot of our students because it's a good book on on mindfulness which again is one of those things that I wouldn't have expected I would need to think about or care about being a trader. but you know the emotions of fear and greed and you know, being happy and upset all are a very big part of the experience of a trader.

Let's see. so the max share size on my small account biggest shares actually were today six thousand shares of Eeye S sorry es es which is a one dollar and 60 cent stock. So even though it was pretty big share size, it was a cheap stock. so I didn't feel like I had a lot of money in that trade and total I had only ten thousand dollars in that trade.

So you know the the risk. there wasn't looking too bad, but I've been keeping share size moderate and six thousand was the highest. Four thousand and 2000s kind of has been standard. You know this is one of these things where you know, hitting the first trade out of the gates, hitting that gap and go, you know, gives you that quick win as soon as the market opens.

and then there's that tendency if you didn't fully capitalize on it to go in for the second and third trades. and then if those stocks don't end up being strong, you end up giving back profit, which is something that can be really frustrating. Fortunately, today I was able to, you know, do fairly well on the gaffer's that I was trading. but even my OS you know I only made a thousand bucks in my small account on this one, despite the fact that it moved pretty nicely from 340 up to four was at 407 I Just I couldn't take enough size because I was restricted on margin I've got that margin restriction and that made it so I couldn't take big sighs.

Let's see any other questions. My OS This was on our scan for former runners and the pattern really was about the daily chart as it was starting to curl up here. Lincoln Yeah, when you sell on the bid, that is essentially like placing a market order because you know that's the market price. I'm selling on the bid is like a market order.

The only difference is that by having a limit if your limit is, you know, let's say you're the bid is $3.00 your limits to 95. You won't get anything lower than 295 when you sell, whereas a market order you can get filled to 70 or you know, 250 if it drops fast enough. When that's the danger. M Its yeah.

What I've been trying to do on all of my trades is 20 cent max loss and you know on most trades Tencent max loss. but like on G lbs today, a lost 26 cents I was only trying to risk 16 but it dropped quickly and so that's what it was. Now it's disappointing because I don't think that trade really had the potential to give me a $500 winner unless it had moved 50 cents and I'm not sure that that would have happened so a little disappointed on that one. but you know overall I think I I did the best I could to minimize the loss.

and I'm glad that I trade with small size so that if I did lose, the loss wouldn't be too bad. So Jose becoming faster with hockey's you know, hockey's are definitely a big part of my trading and a big part of almost any active traders strategy. So one of the things that you could do to practice and that I've done is sit on my computer at night. you know, unplug the computer or take out the battery and just practice those hotkeys.

Just start typing. you know, just start punching the keys, testing it out and seeing whether or not you're getting you know faster at it. You could also go for students that are in the course we have. You guys take a typing test because I like to know how fast you can type and you know if you can improve your typing skills you could start taking some typing tests.

You could do that. you know, maybe just once a night do a 30 minutes of studying one of those typing tests to try to get you faster with your keys. That would help you also. And my LS I mean on the one hand I think that it looks good for a move back up towards $7 based on this chart.

On the other hand, it's still up at a real premium versus where it was at before this spike. it was a dollar twenty four. so we're still up like three hundred percent. so I wouldn't want to hold the stock up that much in case they do something like a secondary offering.

or you know I don't know. just I wouldn't want to hold it overnight. so I'm not. But I'll I'll keep it on watch for day trades in case something else opens up.

and yeah, the Label Maker I absolutely label my hotkeys I labeled them on the computer that I used to trade with over here and now on this one I Just where they are so I didn't need to write them a second time. but yeah, definitely definitely recommend using the Label Maker. it'll help you. so.

Daily Profit Target is five hundred dollars. Five hundred a day is the minimum goal that would get me to a hundred thousand dollars from a small account by the end of the year. but obviously I aim for a thousand. and if I can do a thousand dollars a day, that will get me to the goal that much faster and make this year that much better.

You know at the same time I just kind of to do, you know, go with the market. I think last year I averaged like nine hundred and seventy dollars a day, you know? So I mean we'll see well. I'll do the best I can. but if we have slow days, then you know I've just got to play it smart.

Kelly 250 trading days in the year. my daily gain and my daily lost targets are the same. Yeah, right now my max loss is also about 500 or that probably wouldn't trade if I was down more than $500 so that would be that would still be my max loss. and Tucker your question about staying in winning trades longer? you're getting out too early.

This is something that I used to struggle with as well, and that's why I started selling half of my position and then adjusting my stop to break-even So when I was up 20 cents I sell half instead of the whole thing and then I hold the rest as long as I can. And sometimes that means I sell another quarter when I'm up a bit more or another eighth or whatever it might be. But that has helped me increase my average winners, although at the same time it's increased my Commission's So you know, the big picture is that commissions if you trade the larger size are not a big factor. I mean it's just part of the deal and you got to do what's right for the winner, the wins and getting those big those big trades.

and Dianna know the hockey software is built into your trading platform so like Sure Trader Speed Trader it's built in. same with Lightspeed same with Interactive Brokers same with Ameritrade tips to improve the entries of So the biggest tip I would have would be to focus on the five-minute chart. and when you're trading on the 5-minute chart, your entry should be down to the penny. You know, For instance, on let's see what was a good one we had eat erm the other day do a nice clean five-minute pullback.

so let's go back to that one. Yeah, it's a good was here so eat erm. For instance, this was on the 25th and the proper entry was at 7:30 9 to the penny. I Mean this is the proper entry.

The first Camel to make a new high was as we broke 739, so 739 740 was the proper entry at 135 in the afternoon on the 25th. This actually wasn't the spot I was looking at, but it works just as well. It's a good five-minute pattern, so if you have your entry and you have it dialed into the penny, then there you know. All you have to do is make sure you're pressing your order soon enough so that you're able to get filled at that spot.

Darrin Let me look at your question. Okay, when you hit the hot key, nothing happens. One of the things you got to make sure you're doing is that you're in the level 2 window when you're pressing those hotkeys. so you actually have to have your mouse in that.

Well, the mouse is enough to stay in that window, but you've got to click that window and usually you'll have like a red box around it to show you that that window is highlighted. That's how you notice. the hot keys will work. Otherwise, like some of the hot keys like that your computer just generally has like the music making the music go up and down their audio.

Those will work regardless of what programs open or what windows highlighted. but hockey's only work when you're in the trading platform and when you've got that window highlighted. So just double check that and make sure that's not what's going on there. Sometimes level 2 gets screwed up and I have this, you know, really on I'm pretty much all of my platforms where sometimes you'll see an order that just gets stuck.

where you'll get across level 2 instead of being 305 by 310. It shows. You know, 310 by 305. You know it's showing the bid higher than the ask and if you tried to place your order you wouldn't.

That bid gets ignored. I Don't know why those get stuck there sometimes, So a neat erm. for example: how would I ensure that I got the right entry price if I wanted to get in at 339 and I knew that was the price I wanted to enter now I would start watching the level 2 and if I started seeing a lot of buyers coming in at 337 338, I might just press my order in anticipation of the break. Alternatively I might wait until we break 39 and get in at 40.

So I'm comfortable using a 5 cent offset where I would get filled as high as 744, but I wouldn't want to be filled higher than 5 cents above the trigger. So within 5 cents of the trigger bulla above or below is usually okay with me. And Don yeah, you can trade more than one stock at a time in the simulator and of course, with real money too. Although for me, I don't trade more than one stock at the time almost ever.

I Really focus on one trade at a time, because that's one way for me to mitigate risk. You know, if you're trading 3 stocks, you can't give your full focus to each of those 3, So inevitably one kind of takes the back burner. and that's okay if your swing trading or if you're holding longer-term positions. But when you're day trading, that can be a little tricky because you really want to focus on each of them pretty equally.

Yeah, my hotkeys for sure are compatible with speech Raider and sure trader because they're both the death trader platform and Mitch now I don't trade pre market and I don't think I plan to. you know, unless we see some real shift in the way the stocks trade where they only move pre market. but I haven't seen that any indication that that would happen. So I'm going to focus on waiting till the bell rings for my trades.

So and yeah, my OS was on a former runner scanner and it was on our watch list from yesterday because yesterday it was gapping up. so we just kept it on. Watched today. Well, at what point to share size Risk: increase it? risk that Arisa you won't get filmed Joseph That's a good question and that depends on a couple of factors: Depends on the amount of volume in which in the stock you're trading and it depends on the price.

It depends on the float, so based on those things, some stocks you can buy 30,000 shares no problem, and other stocks it can be hard to even buy 5,000 shares. So for most of the stocks that we're trading on a day to day basis, buying 10,000 shares or buying 20,000 shares is not usually an issue. and I know that because I've traded those sizes on a fairly regular basis I don't usually go as high as 20,000 but on the days that I have I didn't have an issue so but I think 30,000 would be pushing at 40,000 would be harder and 50,000 it just depends. I mean stocks like Pul Em today had a lot of volume so that would have been one that you could have taken 50,000 shares of, but you wouldn't have been able to do that with my OS or es es.

I mean you could have, but you wouldn't have gotten good fills is the problem Alright guys, so I will I will leave it at that for today and if you guys do have other questions, you can of course email me Ross at Warrior Trading calm or I will see you guys first thing on Monday morning. So I hope you guys all have a great weekend and I will see you on Monday Alright thanks guys! let's be honest, if you made it this far, you must have really enjoyed that video. So what's stopping you? subscribe right here and get email alerts any time I upload new content. Until then, happy surfing.