What's up everyone? All right? So I'm gonna do my recap for today. Today was a disaster. It was a mess I tripped out of the Starting Gate and things did not get better from there. Also I broke my glasses so I am squinting I'm sitting on the floor I'm on my traveling trading station but there were probably a lot of reasons why I shouldn't have really traded at all today and it began with accidentally I I was thought I was pressing the exclamation point.

But of course shift one Uh is also my hotkey to buy a thousand shares. and my first trade began with me looking up and realizing I owned a thousand shares of Mgol and I was down 136 dollars on it side. There's no point really looking at the chart. it wasn't a trade, it was a hotkey.

It was just like a fumble. but I fumbled uh out of the Starting Gate today. So that was my first trade. that's not a good sign that I mean that I guess happens but man, that's that's not great all right and I'm down 6 500 today.

So I've been on a nice I've been on a nice uh green streak. In fact I've been green. This is my first red day of the year. um my last red day was I don't know sometimes I guess sometime in December I just I don't remember.

but uh so it was a while back which is good. It's always nice to have red days sort of fewer and further between. uh, you know, but it is a bigger day in terms of my biggest. Green Day this month was about 6 500.

So, but probably after fees and commissions, it was like six thousand green. So now I've got a 6500 red day, which after fees and commissions is probably seven thousand. So this month my biggest uh Green Day is a little smaller than my biggest red day. Well, at least so far.

It's kind of a bummer, but I do have. Um, you know I can take solace in the fact that I've only had one red day so far. this month it's been a very consistent month. Uh, so so that's all good.

But why don't we look at today's trade. So one of the things that's really important uh, as a Trader is knowing when to quit knowing when to throw in a towel on any given day. And that's something I've talked about a lot because it's it's just. it's always.

it's always a topic every single day you have to make a decision of: when do I quit, do I keep trading or do I walk away. and on some days I feel like I leave money on the table and I walk away a little too soon. other days I feel like I overstay my welcome and I give back more than I should and that ended up happening today. So we'll start with well.

so like like I said, the first trade was mgol which was a loser, but a hotkey error so we'll look over that one. Um, we'll over, we'll We'll put that one aside. So Rblx was the second trade. So Rblx um, this was a scanner alert.

Another scroll back a ways on the scanner. So this was early in the morning. it was like eight I don't know, 8, 15 or 8 30. I'll pull up the chart Rblx so we get an algo Spike News comes out and the stock spikes from 33 dollars to 38 a share and I was like hello, that's what I'm looking for something moving and at that point at that point in the day, nothing was moving.

So Rblx right now if we look at our scans for, um, top gainers, oh, I already have it up. Uh, let's see. So Rblx right now is. where? Is it? maybe overlooking it? or maybe I'm maybe it's not.

It's further down Rblx. let me type it over here. it's only up 12 today. All right.

So we'd have to go back to 12 and that's down there. so it's only up 12. It's also got a high flow, so why did I even trade it? That was that was. that was a dumb trade that wasn't a very good trade.

Um, it hit the scanner and it was right here and I was like whoa, It's squeezing up. It's got news and look, it did go up. Five Points So I saw that and I was like you know what? I'm jumping in. So I bought it at 38.50 uh sorry I wanted to buy it 38.50 but I pressed my shift one hotkey this time intentionally and I got filled at 38.74 which was the top of this candle.

It then dropped to a low of um 37.65 and I took my 500 loss there 496. I took my loss. It ends up coming back up, drip, dipping down, coming back up again. It was a bit of a fomo Chase which sometimes happens after you have a red trade.

something pops up and you jump in it quick and that was. that was not a good trade. So now I'm down 800 on the day. What in the world that happened quick EDSA comes up next.

all right So this was um so EDSA comes up next and I'm like okay it's squeezing up 7.8 million share float and um I punched it you know it was coming up and I punched it I added it 325 and I added again at 350. nice news squeeze and then it drops here to to like well it dropped all the way to 270. I stopped out at on right around three maybe 290. so I added and added and then it reverses 50 cents and I'm like what is going on and so I was a little deer in the headlights for a second.

I added another 2 000 shares at like 310 and then I stopped out of the whole thing as I broke three I was like whoa down the 1800 bucks and this thing ended up going all the way down like 30. It went up 30. then it dropped. It was down 30 on the day.

So all of a sudden I was down 2500 in three trades. three red trades, boom boom boom down down 2500 and that happened quick. So EDSA this is a stock that had news. It turns out the news was bad.

Initially the stock starts squeezing up and as a technical Trader I trade What's moving I don't have time to read the news. you'll never have time to read the news when you when you're trading an Algo news Spike But what sometimes happens and this is one of those cases. It doesn't happen often, but it does sometimes happen. The initial move gets reversed and it got reversed and I I took an 1800 loss so that's fine.

I mean that's all part of the risk of trading. Not really a big deal, you know, but it is what it is. So then my next trade was on Tcbp. All right.

So Tcbp comes up on the scan at 8 30 at 475 right here and I jumped in that and actually made 2 000 bucks. Goes from 475 all the way up to a high of 645. that was not bad. So I made made some money on that.

Um, two thousand dollars. but you can see I'm only Up 593 on it and that's because I added back right here at about 6 635, 6, 30, 6, 35 for the break over 650. I was like okay here we go, we've got something working I'm looking for the break of 650, squeeze up to seven and that's not happening. Stopped out at six, lost fifteen hundred.

So now I'm starting and you can I'm sure you can tell now. I've you know I've lost 2 500 in three trades I made back 2001 trade so I'm down only 500. So now I'm kind of getting aggressive I'm like okay here we go, let's go to green and boom back to down 1900. Shoot.

Okay so then Dcfc pops up and I bought 15 000 shares of Dcfc. Okay now I'm trading with bigger size. All right, starting to get a little aggressive. Well I need to trade a bigger size I'm down 1900 and Dcfc is a cheap stock.

So I bought 15 000 shares at like I don't know two 222 or something. it goes up to 228 229. it doesn't break 230 I sell it for a thousand dollars of profit. so I make like with some profit you know, but not a killer trade.

So now I'm down 900 on the day. All right Trading My Piano uh I Got back in here at 25, it flushes down and I lost on that 700. So now I'm back to down like 1500 on the day it curls back up. it now breaks below this resistance level.

Support level becomes resistance and right here I added back 30 000 shares. Okay now I'm getting aggressive. But here's what I was thinking I was thinking okay, we're breaking this level. We break 25.

We're gonna go through 30. we're going to squeeze up to 240 250 at the open. this is going to be it's the second leading gapper. It's on the top of the Gap scan.

This is the one. It's got the volume. It's got a decent chart. This is the one well ended up not being the one hit a high of 27.

and then it flushed hard. It's flushed hard at the open all the way down here to a low of what was it like 190 something like that. So I was in at 24 with 30 000 shares I stopped out at about 210 and lost like 4 500 on that trade. and just like that it went from down.

you know, 1500 on the day or whatever it was to down 6 500. Boom Max loss below five thousand dollars. That's it. I'm done and if I'd held it longer I would have lost another six grand.

You know, with 30 000 shares, it adds up quick both ways now. Had this: So I kind of stepped up to the plate here for that trade that if this had squeezed through 30, I would have made three grand on that trade if it gone up to 40. I would have made six grand on that trade and I would have gone from Red 1500 to Green 35, 4, 500. right.

But the stakes were a little high on that trade because with that kind of size, there's no small winner really or small losers. It's going to be big one way or the other and you're already red on like four out of the five socks you've traded and you're down 1700. That's a risky place to take that trade. I've taken that trade a few times already this year almost every day.

Last week and the week before I started by going in the red before rallying back into the green. So I've gotten kind of comfortable with that and today I had sort of that similar experience. except the trade that I thought was going to put me back in the green didn't and so unfortunately I just went further into the red and this is the place to call it quit. So I have a predetermined Max loss of 5 000.

if I'm down below 5000, I'm not going to take any more trades I already have that set ahead of time. So every day when I come in, I'm saying I'm willing to take I'm willing to trade I'm willing to lose 5 000 and if I lose 6 500 because I take a trade that ends up being a a bigger loss and it puts me a little bit below my Max loss that happens and that's okay, but below five, I won't take any more trades. That's it. I'm done.

Uh, there have been times where I've set that loss at a bigger number like ten thousand or fifteen thousand because I'm in a hot market and I'm comfortable with going red five thousand and thinking I can recoup it, but I'm not in that market right now where I think that's possible. So I'm at a point today where I don't think that it's likely that I would recoup sixty five hundred dollars in losses. Uh, and if I did take any more trades, I'd be risking going further in the red and I'm at this point upstairs stepping down I'm moving in the wrong direction. So I pre-determined what my Line in the Sand was to call it quits I crossed that line and I'm going to follow that rule now.

I Sometimes talk about having three consecutive trades being a reason to stop and that's that's a great general rule of thumb, especially as a beginner. Trader I've definitely had days where I've had three red trades and then they've been small red trades and I've rallied back and finished the day fine. And so I don't I I don't track. You know if I every time I had three trades that were read and then I stopped? How much money would I save myself in further losses? Or how much would it cost me because you know I ended up recouping and I don't have a way of really seeing that that data so I don't know for sure, but it's certainly true than on a day when your P L looks like this like right now is a great time to stop.

I'm read on five out of six stocks. this is not a good day. Should I have stopped sooner I probably shouldn't have taken 30 000 shares on that last trade of Dcfc. I could have taken smaller size on it and if it had worked out then instead of being down 1500, maybe I would have been down a thousand and I would have been like okay, you know I'm still off my lows and maybe I can you know get a couple more trades? But that failing as a leading gapper by itself sets the tone for the day and a couple of the early pop and drops set the tone already.

So I was already trading a little too aggressively for an environment that wasn't very favorable for breakout. Trading I probably should have seen that sooner and stopped and slowed down sooner. So that's going to cost me an extra four thousand the 2500 that I lost that I don't feel too bad about that's that's part of trading. but the four thousand I lost on top of that, That was my lesson and you know it's It's a reminder that the market will give you anytime you get a little complacent or you whatever.

Uh, don't adhere to that sort of mentality of trading the market you're in. you know that was my, that was my extra you know correction today to Smart Enough so we all pay those. uh, mine cost me four thousand today and you know it's It's a bummer, but um, make it money well spent and follow your rules and be more aware for the rest you know, moving forward for the rest of the week into next week. as long as I can.

Before you know I get on a hot streak and I get a little complacent and then I have another you know daily today where I have to correct myself. That's that's just the way it is with Trading So this is my first red day of the year. first red day of the month which is good I allocate to have one red day a week. four red days a month.

So I'm a little uh ahead right now in terms of my red to Green accuracy. Um, you know, having had so far a nice month of January but we're only in the middle of the month so I've got a red day here which was a quick reminder to tighten up. Slow down and I'll come back tomorrow. We'll be of course watching the scans.

These are the tools that I use every single day while I'm trading I wouldn't be able to trade without this. So I'll be looking at the scans I'll be looking for opportunities, but it's my job to try to make good decisions. and tomorrow I'm going to try to do a better job of that I I need to I Mean you know, of course, every Trader needs to try to do better after having a red day. So that's where I'll be at tomorrow trying to press the reset button a little bit and um, get green and then shut it down.

And unfortunately, the opportunity cost of having red days is that you get a little on the defense so you trade a little more conservatively as you're trying to recoup. But it's just it's just what you have to do. This is all about managing risk. So right now I'm managing my Risk by stopping where I'm stopping.

You know another Trader might keep trading and end up being down. You know who knows how much today. So I I set the line uh with a dollar amount which is an easy that's that's an easy line to respect. it's it's impossible not to see it the little the the line that was a little more subtle today was like you know after this many red trades or after having made back 2000 and lost some, maybe that's the spot I should have and that that's very hard to see in real time because you start to get a little clouded in your judgment based on the emotion of the loss and the gain and everything else.

So I I I Don't really expect anyone to be a perfect to be perfect at that. It's not probably possible, but you have to have some boundaries on your trading of where you stop and where you throw in the towel. So mine today was at five thousand and I'm gonna respect that, so that's it for me today. Uh, a reminder as always that trading is risky.

Easy come easy Go. There's no guarantee for Success whether you trade with me or you'll learn on your own. So take it slow, practice in a simulator before you put real money on the line. and don't try to blindly follow me or anyone else.

You've got to learn a strategy. and then you've got to have the discipline to follow the rules of that strategy. And of course, that's what makes trading so hard is it's very difficult to have that discipline and there's a lot of emotions that come into play. So take it slow and I'll be back at it first thing tomorrow morning.

I'll see you then.