What's up everyone? Alright, so here we are: Second red day in a row I Hate red Day. Recaps: These are the worst and today it's a big one. down. $6,900 Why? I don't know why I was so aggressive I knew out of the gates that there wasn't a lot on the watch list and my first trade on CH Ek I Bought right into a big 25,000 share seller I jumped in with 7500 shares and it instantly dropped 30 cents.

So I was out 20 100 bucks. First trade, first five minutes I then go into another trade I jump in with 10,000 shares and Boom! it drops 40 cents per share and about $4,000 And just like that, you know it's my fourth trade of the week for thread tray trade in a row and I'm down. You know, six thousand, nine hundred on the day. So it is what it is.

This is the life of a trader. You gotta be able to, you know, get knocked off the horse and bounce back up. I've fallen off the horse so many times that I just know how to hit the ground, bounce right back up, and jump right back on it. and I'll do it tomorrow.

It's just one of those things. I've just been here so many times where I've been sitting at the end of a red day thinking why? Well, you know again, but it'll always happen. As long as I'm trading, there will always be red days So you know that's why I'm not like you know I'm not crying I'm not. You know I'm not that beaten up about it.

It's annoying. I certainly rather be green today. It's a little frustrating, but you know you just gotta take it with stride. It's just the way it is and I'm sure it's like this with a lot of professions.

You know there's You can think of a million other professions where you you know you start. Let's say building a house and then you realize you screwed something up and you got to take a bunch of stuff down and redo it. It's frustrating. It's annoying, but you got to do it the right way and so you know that's what happens.

That's what happens and it's just the way it goes. so you know it's that way with you know you guys. I watch The Deadliest Catch was today. It's Tuesday my favorite day of the week and I've seen them.

They'll set a whole string of pots and they forget to you know, tie one of the parts of building the trap and so the crab go in and they'll walk back out. They come back through and they have to pick up that whole string of pots and they're like and every single one is empty. What's going on and how much did that cost them in fuel? in time? in lost opportunity? tens of thousands of dollars and you know I'm sure it'll happen another time down the road because that's life. So anyways, you just got to take things with stride.

So today is a red day. but hey, I'm still up seventy thousand dollars on the month, a hundred thousand is still within reach. So anyways, we'll break down all of today's trades in today's midday market recap. All right.

So part Two of Red Day recap: second red day in a row, you know I get I can't stand having red tastes like this and I have this big goal for the month of May you know, but it is what it is. So today I felt a little more frustrated than I felt in any day recently, mostly just because I felt like I I knew there weren't a lot of good setups pre-market and my very first trade on Ch ek this one. it was a gap and ghost stock and I jumped in it shortly after the bell rang for the break of 5:20 and basically I bought into a 25,000 share seller which I didn't really see until I was getting into it and so I took 7,500 shares at 5:20 and it pretty much you know when that seller didn't break it just dropped all the way back here down to 480 so it dropped like 40 cents and I had 7,500 shares. So on that very first trade, I lost 2,300 bucks in the first two minutes of the day which is awful I never liked to start the day with a loss that big but it is what it is.

So got stopped out on that one and then I was sitting tight. we saw CDTI kind of squeezing up but you know these are sort of the cheap ones I don't usually like to go for them s what was it losing my train of thought SNA yes this one continued but I didn't think it was really that I just didn't think it would be clean I didn't really trust it Again, this kind of price range I'm not as good at, you know, sort of consolidating here under this high of a dollar 58. The bell rings and it does end up squeezing up from a dollar 58 as you can see here to a dollar 64, pull back and then taps of dollar 74. a little pull back and up to a dollar 83.

so you know I I just I could have traded it, but the level two seemed pretty thickly traded. It was pretty crowded it already 27 million shares of volume today and so I just I didn't trade it and then carve carv pops up on the scanner I made some money on this one last week and it pops up and I see it at 7:20 up to a high of 7 37 34 and so I bought the 1-minute micro pullback right here. but I made a mistake on this order instead of and I don't know really what happened I instead of getting in it at 25 and 30 which is where I wanted to get in I put my limit order all the way up at five dollars or seven dollars and 84 cents I don't know why I had such a high limit order and so as I was pressing the Buy button I was getting filled but I was getting filled way up here and so then I got stopped out as it came back down and I lost four grand on that. So just like that I'm down 6900 on the day for I guess the worst day in like two weeks which is disappointing.

You know losing nearly seven thousand dollars in one day isn't fun. Fortunately I'm still up seventy thousand on the month so I have no right to complain but you know this just wasn't clean so on carve you can see here I got in it I started getting filled at 26 and 33 which is exactly what I expected and my next orders were filling at 46 50 61 high a day was 63 so I filled very close to the highs which was not good and then two minutes later it's back at $7 and you know at that point I have no choice but to stop out and so I sold it seven and 690 as it dropped down and so just like that with ten thousand shares I lost 46 cents per share or something like that and you know it. just you know, creates a little bit of a hole for me to dig out of. Not a big hole, but you know, a little bit of a hole.

So I made twenty-five thousand last week I'm up seventy thousand on the month as of today, but you know I I still had that goal of 100k and so that means I've got one, two, three, four, five, six days left. You know to make $30,000 and it can happen if we see good momentum. but today we didn't see good momentum and so after carve I was like all right, I'm done trading I'm not going to do this again LM Fase this one is another one breaking through the $1 spot. This is kind of what's hot right now.

Stocks going from 75 cents to a dollar dollar 50 Like I said generally I don't do well in this price range I don't like trading them CDTI it broke through a dollar, hit a dollar, fifty two and then came back down. is you know, selling off. We saw Bo SC This one hit the scanners and look at this. It popped up to a dollar 53 and then dropped all the way to to 16.

That is an ugly false breakout. So it popped up and then immediately reversed our TTR It popped up and immediately reversed and went till low of the day I Mean it didn't just pull back a little bit, it ended up going all the way down to load day. So this is the kind of market we're in right now. We're seeing a lot choppy action, not good follow-through and this is the time to ease up.

And I knew that going into the market today and I just you know you, you underestimate how quickly you can lose 30 40 cents a share because you know yesterday I was able to keep really tight stops only lost 450 bucks today. 75 hundred shares. Boom I'm out $2,000 just like that I mean it happened so fast. Next thing I know I'm in carve I'm in with a bad entry at 7:42 average and boom it's down to 7 bucks.

I'm down $4,000 and I've got no choice but to sell it. And of course it's good that I sold it because if I was still holding it I'd be down a lot more, you know? So I I kept my loss relatively small. This is relative to my account size, but definitely a little bit of a disappointing day here. So I'm hoping that things start to turn around that maybe Wednesday or Thursday we Friday we start to see some some really good momentum and you know I just hope that we can get away from these 50 cent $1 stocks because for the only way I can really do well on these is to take pretty big size and you know my Commission's are expensive if I take.

if I take a 30,000 shares position I'm spending like a hundred bucks buying and selling. Just I mean my Commission's are gonna take $200 roundtrip just because of the way. Direct access routing charges you per share routing. So this these types of stocks are great if you're at each rate or Ameritrade it's a flat rate, but when you're trading with any direct access broker, these get expensive and so I don't really like to trade them.

For that reason, it just immediately puts me in the hole. And we also have the T12 risk which we've seen in the past. stocks that went from being below a dollar anything below a dollar to squeezing through and being above a dollar had risk of getting halted on T12. And that's when they're halted pending investigation.

And the question is, you know the exchange says what's caused your company to go up 67% Today is there news And a lot of these? There's no news. Lmf A We can check to see if there's any headline on market watch, you know? So when you have these types of moves without a headline, especially when they were kind of in the penny stock range, it can get I Think regulators a little bit, you know, interested in what's going on that doesn't seem to be as much of an issue with the higher priced stocks. I Mean it can be when a stock goes from $10 to 150, but for some reason the penny stocks really seem to catch that attention. So that always makes me nervous when I'm looking at stocks that are right around this.

this price just that potential risk of a T12 Hald. so we haven't seen any in a couple weeks. so maybe it's not really a risk today. But that plus the share size, plus the fact that on a lot of these breakouts at best you're getting 10 or 15 cents.

The only way you make money on 10 or 15 cents take really big size. And yeah, it's just not my cup of tea. So I really like trading stocks between $2 and well, two dollars and ten dollars. Two dollars and eight dollars is good and these ones just aren't really my thing.

So I got to sit tight and be patient. It's you know it's not fun when you just got in your hands and it's not fun when you you get into trades and then you immediately lose four or five thousand dollars. But that comes with the territory of trading with big sides. And you guys know that.

So you know if you step up to the plate and try to trade with ten fifteen thousand shares on a regular basis, you're gonna have days where you know you're gonna have days here where you make 28,000 twenty-nine thousand dollars. But you're also gonna have days where you lose money. This is these days right here. Even though they don't look that big relative to my green days, this is an $11,000 losing day.

This is a $13,000 losing day, right? So you know that's what comes with the territory of trading. with big size, you're gonna have big green days, But you're gonna have big red days. You just hope that the red days are far enough apart that you know you're not digging yourself into a deep hole when you do start to get the drawdown. So I don't know if I have my my max drawdown on here I'm not seeing it I don't remember where it is, but there's a chart on here where you can see your drawdown so it's the most.

Oh there it is. Yes, so you can see here. In the last the last couple months I've peaked on max drawdown of about 20,000 22,000 dollars. So that means from my all-time highs I've dropped down 20,000 you know? But this is what my equity curve looks like and that's just over.

Well, what is this period and that's going out all the way back to 2016? So that's a nice equity curve. I mean I'm up here at 926 thousand dollars just in the last two and a half years. So yeah, but you know, Like I said, these draw downs aren't fun. The flat periods, the periods of sideways action where you just got to bite your tongue and send your hands.

it's It's not easy, but it is what it is, so a little bit of a pullback here today. Six thousand, seven thousand bucks and hopefully tomorrow we'll be able to start to turn it around and and have a green day. But yeah, you can see, since 2016, my drawdowns have definitely gotten bigger, but the equity curve has also started to go up a lot faster. And so that's relative to taking more risk.

You take more risk and you're gonna have bigger red days. But then when you have green days, you know that's where it pays off. So these are my metrics right now. Guess this is whatever.

Nine hundred thousand dollars, seventy percent accuracy, one to one profit loss ratio, and that's the biggest thing for me is trying to keep that profit loss ratio. Positives is hard when you take an approach of scalping, getting in, getting out, taking quick profits, and and that type of thing. So it's the nature of my strategy a little bit. But the other side of scalping is that when you're up 15 or 20 cents and you take profit, it's It's not hard to predict when a stock will go up 15 20 cents, so it makes your accuracy pretty high.

And so that's why it's up here at 70 percent. and this is over the course of two thousand trades. so there's a lot of you know, a lot of validity to these numbers. So anyways, that's about it for me.

Big picture. You know life is good. Not gonna complain. Still in really great shape on the month, and we still have eight nine days.

Whatever. it was six seven days left in the month. so we've got time to recover and get myself back to 75. 85.

Maybe a hundred thousand dollars? That's the goal, All right. So yeah, that's it for me. I'll be back at it first thing tomorrow morning. I'll see you guys bright and early.

Nine-nine 15 for pre market analysis? All right. I'll see you guys, Then 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. Remember when you subscribe, you become a member of the Warrior Trading family.