What's up, everyone? All right? So today is another red day recap, which is a great opportunity for you guys to learn from my mistakes. So today I maxed out with three trades and I have three losses. And my rule right now is pretty much if I have three back-to-back losses, I'm done. And it's a rule that prevents me from getting too frustrated because after three losses, you can just start to feel really frustrated.

A fourth loss, a fifth loss, and you're starting to pull your hair. What's going on? This is crazy. So I just say if I have three losses in a row, I'm done and that's kind of the max loss that I'm using. So if three loss is equal a thousand dollars in losses, I'm done.

If it equals five thousand, then I'm done. If it equals eight thousand, I'm done. But right now it's pretty much just three losses. if I do max out with a really big loss in one trade and I'm down $7,800 At that point, I'm pretty much just done for the day.

It's just so hard to recover from that type of loss. And so today I finished down a little over four thousand dollars from those three losses. Now the first trade I was up about two cents on and it wasn't enough to take profit and so I really just was never in the green and I ended up losing about eight cents per share. Maybe it was ten cents per share.

The second trade I was up on I was up about $700 but it was with small size and I thought The trade had the potential to go further. so I added and went up to full size and then ended up losing like 750 bucks. So that was a not a big loss, you know. I was up a little bit, not really as much as I wanted to be.

Then Sal ended up turning into a loss. The third trade I got into for a breakout, a first five minute candle to make a new high. what is typically a really nice setup and I'll show you on the chart I Got in for the first candle to make a new high. it popped up about 15 cents but immediately dropped it I mean it just it totally did a false breakout.

so it popped up 15 cents and then it dropped about 60 cents. I mean it just totally dropped I stopped out at out one with like twenty two hundred dollar loss and at that point I was like that's it. That's my third loss I'm done for the day I'm not gonna try to fight it any longer I'll just be back at it first thing tomorrow morning so you know it's one of those days. It is a little bit frustrating, but I made sure that I walked away before I really maxed out on my frustration level because I don't like to go to that level of frustration with myself or with training or the market.

I just I want to take the stress Level down So three losses in a row? That's it. I'm out. I'll be back tomorrow, but why don't we break down all of the trades here for you guys today? because I want you to really see the details of what I was thinking why I took the trades Why? my accuracy was poor so you can learn from it so you can hopefully be a little bit more profitable as a result of learning these little lessons. All right, So let's break it down in today's midday Margaery cap.

Alright everyone, so we're gonna break down the traits from this morning. Let me drag up my platform here so you can see so red on three names. No trades in the IRA today which is for the best. IRA is just kind of not doing much right now until I see a quality set ups and I mean like for the IRA has to be A-plus quality.

It has to be a almost perfect setup that I have like a hundred percent conviction in that it is really gonna work. Anything less than that is just not really worth it right now. So let's see. so I'll move that back down here.

So my main trading account as you can see here down 47 hundred bucks this morning. You know, three read trades. a little bit frustrating and you know I I'm trying to throw in the towel after the three read trades and not push myself to the level of getting really, really irritated today. just we didn't see follow-through So first trade of the day was Capr.

This was our leading gapper and I thought because it was our leading gap or it was the one that had the best chance of popping up and retesting the pre market highs. So I jumped in this at two with an average of 219 15,000 shares and my goal on this was just to try to get 10 cents profit. I wasn't thinking I would get a 15 20 30 cent winner. I was gonna try to get in right here at 220 and sell at the pre market high of 235 and if it opened up and squeezed up to 240, 250 I would scale out more, but I'd be taking profit around 235 to 30.

Unfortunately, I got in and it popped up to 225 and then it rolled over and so I stopped out basically like a minute after I got in as it dropped down here selling into smaller orders of 7,500 shares each. So you know I probably should have gone smaller on the size, but I did think this had a really good chance of popping up in retesting the pre market high since it was our leading gapper I thought it would be the one that everyone was watching this morning and maybe it was, but it just obviously didn't work. So that started me out with a $1700 loss right away. which is, you know, obviously not a great way to start the morning.

My next trade was CC Sr E CH CI this one I put out 20,000 shares of buy orders but I only filled 2900 shares I was once I realized I was having a problem getting filled I put out this additional order I started with 15,000 shares and went to 20,000 When I realized the first ones weren't getting filled, this got halted at 279 I got filled all at 270 I'd then added at 289 and 294 on the resumption from the halt. But look what happened, we resumed from the halt. We tapped a high of 210 and then it just faded all the way back down to 258. No follow-through again.

You know if I stick with my guns and follow the rules I would wait for the first pullback and in that case I never would have even taken this trade because it didn't have a good first pullback. You know it just ended up rolling over. I sold 2500 shares at 209 and the rest at 274 so ended up being a toll loss of 750 bucks which isn't that bad but still disappointing. So now I'm I'm to read trades into the day down 2,400 bucks.

Third trade was on BS P.m. so BS P.m. I saw on the scans and I was watching for the first five minute candle to make a new high right here. Now what's interesting is that on the ask we had a seventy thousand Cher seller at 4:30 So right here we had this seller kind of holding up.

you know potential momentum above 4:30 But as we started to see that seller get bought up, he went 70,000 60, 50, 40, 30 in the 20 12, 11, 10, 9, 8, 7, 6 Boom boom boom. That's when I jumped in at 4:30 expecting that we would break that level. which we did and we would retest pre market or high of day. Which we did.

We tapped for 45 and then we instantly dropped all the way down here to 380. This was a very harsh rejection. This is what we would call a false breakout and with my accuracy its overall 68 percent over the long term. This is just one of those trades that you know is is gonna be a loss.

There's not a lot that I can do about this in terms of predicting this type of false breakout. This could have easily held up and broken over 450 and it just didn't. It got rejected. There's not really any way to predict this.

I mean it really could have just as easily gone the other way. This is just gonna be part of the time that you get in. you stop out as soon as it started to break down. I stopped out at 220 or 420 and 409.

So I minimize the loss by a lot. it didn't hold all the way through this drop I stopped out fast, but you know, even so, it was a $2,300 loss and so with that I said I'm throwing in the towel and I'm not gonna, you know, keep pushing it. So reflections on today: What could I have done differently today? Well, on my very first trade on Capr, there really wasn't much opportunity to take profit. I was never really up on the trade I mean it.

it popped up to being up five cents for a second, but it didn't hold up. So could I have sold this a little bit sooner maybe 210 and 206 I maybe could have sold it five cent sooner I could have minimized the loss a little bit I could have also taken smaller size on it given the fact that you know the market was red this morning and we weren't really sure that we were gonna see good follow-through today. There wasn't a lot on the Gap scanner. This wasn't my favorite stock to trade, so maybe I should have taken smaller size on it for those reasons and that would have minimized the loss.

So that's probably the two things I could have done differently on this one. is smaller size and stopped out maybe a little faster. Alright, next 1ch Ci. well on this one you know I Got in quickly because this is a stock that I made like thirty thousand dollars on.

you know back here in November or was it November or when was this? We had a couple really great trades on this one. so this is a stock that I've done well on and as I saw it popping up I thought okay, you know this, it makes sense to jump on it. So I wanted to get in it quickly, which is fine. The luck of the draw is that I only filled twenty-nine hundred shares if I had filled 15,000 shares at 170 and sold it at 209 and 205.

I guess that would have been a winner I added and maybe I should not have had it I should have waited for the first clean pullback to add and then I would have probably stopped out either breakeven or with a small profit instead of a loss. So I'd say on this one I shouldn't have added here on the resumption of the hall even though that's worked well in some instances. in this case, given the choppiness of the market and the fact that I was already read on the day, I should have waited to add so that would have reduced that loss and then BS P.m. I think still would have been a loss I don't think there's anything that I have done to prevent this.

Stopping out maybe a little faster would have helped minimize it a little bit, but obviously it ten cents was good on that. and then it dropped fast and so I got slippage. So I think in hindsight, what I could have done differently today is perhaps traded with smaller size given the fact that the last three days have been a little bit choppy and we didn't know if today would be clean. So until I really saw good momentum.

I probably should have traded with smaller size today, and if I trade with smaller size, maybe I would have been able to cut these losses maybe in half. I probably still would have had most of the same trades and some of the similar losses, but the losses wouldn't have been as big. So today, obviously I was trading with larger size pretty much as big as I've been trading anytime in the last month. I mean this is pretty much my full size to trade 10,000 to 15,000 shares.

and maybe today wasn't the right day to be that aggressive. So that's probably what I would say is I should have been a little more responsive to the overall market in choosing my share size today and that would have helped minimize the losses a little bit. you know, because at this point right now I made 117 thousand dollars in January and now in there in February here I'm down about ten thousand dollars so you know I'm really kind of getting myself deeper into the red on the month than I would like and a 10,000 I mean being up $10,000 on the month for me would not be a very good month, but it's certainly better than being down 10,000 on the month. So at this point I need to make 20 grand just to be up ten thousand on the month.

So you know I kind of have my work cut out for me here. It doesn't take much to make twenty grand when we have really strong markets, especially with ten and fifteen thousand share positions. but if the rest of February is going to be a little bit slow I definitely will have to adjust my share size. So I would say tomorrow I'll be trading with smaller share size until I see something that really starts to take off and that's what will prop we create the next round of really strong momentum.

We know that momentum goes in in cycles, it goes in waves and so what I encourage you guys is that on days when you see that I'm in the red or that on a week where momentum is kind of faded, that you spend this time really studying up on the last momentum cycle because when the next one starts, you want to be able to really capitalize on it. You know when traders see me making ten fifteen thousand dollars in a day and that's what gets them excited to join us. Or you know to start learning how to trade. That's great, except for the fact that during that hot streak they're not gonna be trading with real money, they'll be.

they'll be paper trading because you don't just start and trade with real money on your first day of you know, taking a class you you can. You train first. So training while the market is red or choppy actually teaches you really good discipline. And it's an opportunity to build up your skills.

So by the time the next momentum cycle starts, you're ready to really capitalize on it. So I would kind of think of it like that is you know this is an opportunity for us to train to be disciplined and when things start to pick up again, we'll be in really good shape for it. So for me, bringing down the share size a little bit until things start out, open up and look better is gonna be important. Certainly scalping the small wins when you have them.

as important today, that would have meant taking small profit on CH CI and B SPM I Really, there was really no opportunity to take profit for me at 45, it just it flashed up there so fast. If we look at the 10-second chart, you'll see how how just this tapped 45 on one candle and then came right back down. So this was the area where I started to get a little nervous and I sold it at twenty and then oh nine. So I was selling early in this in the drop by.

You know this It was quick. You know it didn't give us any opportunity really to sell up there, but in general taking a smaller profits when I have them and trading with smaller size. So I can go back to just grinding on $500 to $1,000 a day while the markets choppy. and then once we start to see that one stock that goes up a hundred percent in one day, that's when it'll be time to put the pedal to the metal and get aggressive again.

But right now it's gonna be time to. You know, be disciplined, be patient, and you know it's a little bit of a challenge for all of us, including for myself for sure, but it's definitely gonna teach good discipline and then when things pick up, we'll be able to be. You know that much more profitable. So my IRA is at ten thousand five hundred dollars, I was at eleven thousand three hundred and then I lost eight hundred bucks.

So this one, well I started at eight thousand three hundred and I made money and then I had one losing trade last week. So on this account, I'm not gonna take anything. probably until we're in another hot hot streak because I don't you know with I can only take two thousand to three thousand shares of most stocks and I only have three day trades per week. So I don't want to lose my day trades on $50.00 $100.00 winners I'd rather save them for that one day where we see amazing opportunities and they'll take all three trades in that one day.

That's probably what I'll end up doing so anyways, that's about it for me today. As you can tell, I'm not really that bummed out. You know? Yeah, it's a red day, but it's not really that big of a deal. Again, keeping things in perspective: 117 thousand dollars of profit last month? These are just, you know, a couple of pull back days before the next leg up.

So make sure you guys are studying, getting yourselves prepped and ready, because when the momentum is back, you're gonna want to make sure you can jump in and really capitalize on these opportunities. All right, So that's it for me today. I'll see all of you back here first thing tomorrow morning for pre market analysis around 9:00 9:15 All right, I'll see you guys in the morning if you're still watching. You must have really enjoyed that video.

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