Hey, you guys go on girl. Sorry, uh, can you guys see me? Okay, so I've got a couple things I want to talk about here tonight. Um, talk about here tonight. Um, talk about here tonight.

Uh, that's weird. I've never had an echo when I've done a Youtube stream. Wonder what that's about? So let's see. Hang on one second.

Well, it's fine. Um, so today was pretty crazy. Um, I wasn't expecting to have a day like what we had. This was.

this was crazy. So we had a really big Momentum Stock. So for those just you know, watching this video, whatever weeks or months from now. what we had today was a really big Momentum Stock.

We had a stock that opened about ten dollars. uh, went up to 12 13, 14, 15, pulled back, then squeezed up to 16 17, 18, 19 pulled back again, then up to 26, pulled back again, then up through 30 35, 40, 45 up Over 50 a share. I mean this is pretty crazy. And the volume? 480 million shares, 480 million shares.

This is crazy. So what I want to talk about is what every successful trader knows. Because I did trade it this morning and I started seeing comments. uh later this afternoon and this evening people saying russ, man, I can't believe you didn't make a million dollars on this one today.

I can't believe you didn't make two million dollars on it. I thought you would have killed it. And um, I made about ten thousand dollars today. So ten thousand dollars is a good day.

I can't complain about that. The best day I've ever had at this point is just under half a million dollars. So that's a that was a pretty huge huge day and it didn't happen today. And on the one hand, uh, I do feel fomo.

I'm just totally blown away by how big of a move we saw today because I wasn't expecting it. But this is what every successful trader knows. Every trader out there who's profitable. They know that you have to take profit along the way.

So I had 20 000 shares of the warrants at like 275 or 250.. if I had held that whole thing and just let it ride, I could have made a tremendous amount. but you know it's not traders who are thinking about the coulda woulda shoulda. There are going to be people out there and there may be some of you here today.

Who, um, you know, got took a trade, took a a position when it was at 12 or 13. walked away, you know, went to run some errands, groceries, whatever you come back. it's at 40 a share. cha-ching.

That's a huge winner, right? You're You know you're one entry, one exit, 20 30 a share and you're good. That is not in my opinion. I mean, if that's part of your strategy and you do that consistently and over the long term it's successful and profitable, then you know. Okay, that's fine, but that generally is going to be what I would call good luck.

That was good luck. I mean, it doesn't happen every day. That was good luck. That's awesome.

But you don't build a career on good luck. And as a profitable trader and as someone who's been doing this for a long time, I can tell you that you never know how much they're gonna go up. How many times could I look back and let's say game stop. I had the money in my account to hold.

Probably. Well, let's see. um, ten thousand. So that'd be three.

I I probably could have held like 40 or 50 000 shares of Gamestop from the 30s or 40s. And think about, I mean that like every 10 points is 500 grand. So it went up 100 points. That's 5 million dollars.

It went up 400 points. You know that's I mean that that's crazy money. but nobody knows how high a stock is gonna go. That's that's the the reality of trading.

You never know. And so you know there's people out there that um, will get. You know, some amazing trades like on Gamestop. You know you might have a trade where you get in, um, you know, at 40 dollars and you hold the whole thing until it goes up to you know, 200 a share, 400 a share and you feel like a hero because that's obviously a huge trade.

But that's to me, not trading trading is the process of getting in and getting out booking profit. You get in, you go, you get out, and then you look for the next trade. So being a trader, what every successful trader knows is that you will not go broke taking profits. You have to take profits off the table.

You have to. I've had trades and I I've had instances where I remember this one trade where I got in and I don't remember exactly the price it was. I think they said 16 17 a share. Something like that.

I got into this stock and I start adding and I was adding and adding and adding and adding and you know. next thing I knew I had a huge position and I was up 120 000, 120 000 but I didn't take any of it off the table. I was looking for that big move. You know what happened came all the way back down.

In fact, if I didn't sell it break even I would have taken a loss on it. I had a trade today on Dw Ac where I got in with 26 000 shares. I was up 20 cents a share. I was looking for the squeeze through 15.

so I was in it like 1480.. I was looking for the squeeze through 15. it hit 1505 or 1508 and then it flushed down. I got outbreak.

Even if I had held, I would have been down five, maybe ten thousand dollars on it because it did pull back more. and so I made the decision to cut the loss at breakeven you know for what it's worth this month. Uh, so far I only have one red day, One red day and I was down 600 bucks and my biggest green day this month was about 64 000 or something like that. So in terms of red to green, the process and the technique of taking profit pays long term.

It's about consistency. You get in. you find an entry that looks good based on a setup that you understand. So obviously I'm a Momentum trader.

This is what I trade. This is what I teach in our classes. My job is to educate as many people out there who want to learn about how to trade Momentum. that's my strategy.

So Momentum is all about buy high, sell higher. But you don't want to be the guy who buys the top. And I've been that guy before. I've been that guy enough times where I bought the top and didn't stop out as it came back down.

and then I went down with the ship and I took a huge loss. And I think man, why didn't I just cut it faster because another trade of a successful trader is cutting losses quickly. You have to be brutal about cutting losses. Ruthless.

Just let them go off with their heads. Get rid of the losses you don't hold and you don't hope and you don't want to average down. There are trades and I mean you know today's a day where you could have broken almost all the rules and made money because the stock goes up 400 percent. That's an anomaly.

I mean it's it's It's not the norm. it's not the average. We do see it happen a few times a month. something makes a big move.

This was particularly big, but what's more common and this this was. uh, let's see. um, Jrjc Today that one popped up. it went up to i don't know.

10 10 50 comes all the way back down and we've seen that type of price action so often. If you don't take your profit when you have it, it's gone. So you get trained with that mentality just through experience Because as a trader you will have times where you know you're You take a trade and you're up. Maybe you're up four thousand.

Maybe you're up five thousand. Maybe you're up ten thousand and you don't take any off the table and it goes back to flat or worse. it turns into a loser. How many of you have had that happen? And what's the feeling in that moment? What are you thinking to yourself When that happens? I should have taken profit off the table.

Why didn't I take profit off the table? Why not? You feel sick, You feel horrible. You feel stupid now having had to trade on this stock at 1480 with 26 000 shares. and given the fact that it went to, you know, 50 60 a share. In hindsight, I should have held the whole thing.

So for every 10 points I would have made 260 000. So from 15 to 25 is 260. From 25 to 35 is another 260. That's 500 000.

25 35 to 45. Now I'm up 750 45 to 55. I'm up a million dollars. Okay, well I coulda woulda shoulda.

You can coulda woulda shoulda for the rest of your life. If you want to and what you're going to be doing is always looking back, you're going to always be looking back at what you could have should have done. Now my job every day is to come in and trade and every day I say you know what I'll come in and I'll try again tomorrow. I'll try again tomorrow and I'll try to do a little better tomorrow And for me for what it's worth, my goal of trading and everyone has different goals.

My goal of trading is not to trade eight hours a day. It's not to sit down at four in the morning when pre-market starts, or at 7 00 a.m or maybe 8 a.m is okay to sit down at 8 a.m That's fine, but I don't want to sit down at 4, 6, 7, 8 a.m and sit in front of my computer all the way until 8 pm at night. It's not my goal to make as much money as humanly possible. There are younger people out there who haven't made as much as me that are going to want to trade early, early pre-market that may be trading right now after hours and that's awesome.

That's totally cool. The market is open, the market is here for you, but my goal is to trade less. My goal is to trade for a couple hours a day from 8 30 to 10 30 11. and then I have a family.

I want to spend the rest of the day enjoying life. That's for me, the whole idea of being a trader. So to make ten thousand dollars in two hours I want to be grateful for that. To then be able to go spend time with my kids, to be able to go do things like go sailing out if I'm you know, out somewhere warm, or go play tennis, or do those types of things.

That's what it's all about. Now, I'm not saying that there aren't people out there who would love to trade for, you know, eight hours a day? There are. Some people are, um, you know, hungrier than me. They want to make more than me.

They want to be more aggressive. They want to. Um, you know they're still trying to prove themselves and stuff like that. And that's fine.

You can do that. No one's stopping you. The strategies that I trade, the strategies that I teach you could trade them. You know, from four a.m to four to uh, eight Pm after hours, you can trade them on cryptocurrencies if you want.

You can trade them on you know futures. You could trade them however you want. It's up to you to decide how you want to trade it. And here's the thing that I've learned.

Uh, you know today's so. Today's one of those days where I traded um from about 8 30 until 10 30, I was done by 11, made 10 thousand dollars and then I had to go. I had some stuff that I was doing with my son today and so we had to go out. I had to go, had a doctor's appointment and you know, had stuff I had to do.

I ran some errands and you know this and that so you know I'm on my phone. Every now and then I'll see someone mention the price of the stock, but I'm not trading. My focus is doing other things, you know, enjoying the day. It's a beautiful day here in the Berkshires, so I'm doing my thing.

and um, unless you're going to trade every single day from, you know, whatever it is, 8 30 to 4 p.m you can't do it just occasionally Because what I've found for myself is that you know the one day I'm able to be there, well, nothing happens, right? So the one day I'm able to be in the market in the afternoon, there's nothing happening. I'm just sitting there wasting time. and then a day like today, I, uh, you know, I I don't trade and I miss a huge opportunity. So it for me kind of has to be you.

Either you just have to be consistent every day. You know every single day you either trade from. You know, whatever it is, you trade from eight to ten every day. Or if you trade from eight to four, you do it every day.

Now it's one thing. if you miss one day here and there, you know you miss one day. It's no big deal. But you have to be consistent because if you're inconsistent, you only trade some afternoons, you only trade some days pre-market Then your results are inconsistent.

The one day you finally have something that makes a big move like what we had today, Well, you miss it, and then you feel like an idiot, right? So uh, it's that. That's what gets really frustrating. And I I know that from experience. So this afternoon when I was driving back to the house, I I, you know I thought to myself, okay, you know it's like three o'clock should I sit down and try to trade this thing.

Um, you know, power hour to four o'clock And then maybe after hours we get a nice squeeze you know, in after hours trading which we sometimes get with these and I thought about it for a second. I thought, you know, Here's the thing man. you got to be grateful for what you've got. That's another thing successful traders remind themselves.

you have to be grateful for what you have. You got ten thousand dollars out of the market today. Man, You compare yourself to a hundred other traders and probably 90 plus of them did not do that Well, Now there will be a couple. maybe two, three, four that did way better.

Maybe there's one that made a million. Maybe there's a couple that made six figures, and maybe there's a handful that you know are around the same as me, or a little bit more, a little bit less. Okay, that's fine, but you got to be grateful for what you got. One of the things that I've found that I struggle with is when I come back and I sit down like I'm I leave for, you know, the middle of the day and then I come back and sit down.

If I missed the big move that happened between like noon time and 2 p.m I over compensate for it. When I sit back down at 3, 30 or 4 to Tr, I overcompensate for it to try to make up for the fact that I missed it. and sometimes the fact is just simply that that was the move from two to four, or two, or twelve to two. And now from, you know, whatever it is before three to four or four, to five, it's just flat lining.

and then you end up going red and think about this. How stupid. How terrible will you feel if you're the guy that was up 10 000 and comes back at 3 30, takes a power hour trade and ends up giving back the whole day of profit. And now you start getting emotional because you've been walking around the whole day thinking, hey, I'm up ten thousand dollars.

This was a good day and then in a you know, a moment, one trade it's gone and now you're back to flat. You know. And I saw some of the false breakouts. I looked at the chart.

Some of the false breakouts were pretty intense. You know, where you broke and that huge rejection. So that's a bull trap. You get caught in a bull trap like that and you have enough size.

Sometimes there won't be enough time in the day to recover that loss. And just like that, now you're getting emotionally fueled. Now you're frustrated. Now you're angry, you feel stupid, and you think, why Wasn't 10 000 enough? Why wasn't that enough? 10 000 a day? That's 2.5 million dollars a year? Why wasn't that enough? Why was I pushing for more? Why was I always trying to get more successful traders take money off the table.

They take profit. Now if there's a good opportunity, there's nothing wrong with getting back in and looking for another trade. But the way I trade, the way I focus is I sit down. I trade trade, trade, trade trade.

And then when I'm done, I walk because the moment I say I'm done, I take an hour break and then come back. Anything I missed in that hour that I was gone, and if it was something big, I'm gonna try to overcompensate for that the next day or or later that afternoon. And it just it. It doesn't.

It can. It consistently doesn't pay for me to do that. So you know the fact is. Um, I can assure you guys that there will always be another opportunity around the corner.

Those of you who missed a Gamestop hey, we'll look at this. Here's another opportunity right here. Those of you who are missing this right now or watching this video, maybe you know a week or month later or whatever it is, there'll be another one coming Because that's the market. That's how it's always been.

It's the ebb and the flow. You get these waves of momentum where we see these really, really big moves and they're awesome. You know when we get these moves, they're fantastic and then it slows down for a stretch, you get a couple weeks where it's slow, you don't get a lot of action, and then it picks up again. One of the things that I'll say today about Um, Dwac.

I I mean, I, I didn't see it coming. I and because it was a Spack Spax have been a little tricky this year. We've had some decent ones, but more recently they've been tricky so I I underestimated a little bit. I was like I don't know because the pre-market chart was up to like was it 17 and then when it was opening around 10 or 12, it was still below that pre-market high.

When I took a couple trades on it, it seemed like there were a lot of sellers stacked up so I was kind of confused. So I I, you know I was a little confused and the fact is, the price action on it between 8 30 and you know, 10 30 it wasn't as good as it was in the afternoon. Yeah, that's the way it sometimes goes. This is one that just wasn't as good in the morning as it was later in the day in the afternoon.

For me, I have found and this is based on my own metrics and my strategy that I consistently make the most in my first two hours of trading and in my very very best days. The best days I've ever had, you'll get the top 10 best days. I start early maybe 7, 30, 8, 8, 30 in the morning trading pre-market and by the opening bell I'm already up big and by 10 I'm just you know, I'm well into six figures and going up to 11, I'm scaling down And on the best days I've ever had, I'm not usually trading till four in the afternoon. I get the profit.

in the morning, I get aggressive and then that's it. And today's a day where pre-market Uh, on my first trade, I lost 1300 bucks. On the next trade, I made 3 000. So I was up.

You know, whatever. A little bit. Two thousand dollars. Uh, then I had a trade.

Uh where I got myself up four thousand, Five thousand, Seven thousand, eight thousand. Then I lost it all and was down six hundred. And this was training the stock. that's up so much I managed to lose on it.

And then I got back in. I had two good trades. I made five grand about on both of them. I got myself back to up 10 and I say, you know what, 10 is better than down 600.

It's coming up to whatever it was. 10 30. Take it off the table. it's another green day.

You keep clocking those 10 000 days that's tracking for 2.5 million a year. Now I'm at around 2.9 million already on the year right now. and um, it's gross profit so I'm already tracking ahead of that. I think my daily average this year is around 16 000, but you know, today's a day where the stock that made the big move just happened at a time that I didn't catch it.

So if my focus was trying to make as much money as I possibly could, then I would trade every single day from probably 6 7 a.m until 4 p.m the closing bell, and some days I would trade after hours. There would be some days where I'd be sitting there for, um, you know, 12 hours and that's if I was trying to make as much as I possibly could. But I think a question there is. what's it all for? You know, working 12 hours a day and let's say you make a hundred thousand dollars on that day Or let's say you make 200 or 500.

at the end of the day. What's all that money for right now? Some of you guys are younger than me, you don't have maybe a a spouse, husband or wife. You might not have kids yet. Uh, so you may be in a place where hey, you know I can dig deep and sit for 12 hours a day and heck yes, I'm gonna do it.

If there's opportunities like this, I'm not going to pass them by. I'm going to do this every single day and good for you. But then once you've made a couple million dollars, you know, or in my instance, taken 583 dollars and turned it into over 8 million bucks. At what point do you say, hey, 8 million dollars? Maybe I don't need to work so hard anymore.

Maybe I don't need to trade 12 hours a day. Maybe I can start enjoying life a little bit more, trade for two hours, and some days all the action's going to be outside that window and that's life. And other days, all the action is going to be right inside that window. Now if you start consistently seeing that the action is changing in the market, more action.

Pre-market you start getting up a little early. more action in mid-day afternoon. You start trading a little longer if you're seeing long trends. We had a stock, it was in August and I was on Cape Cod.

I was um, I was with my son I was having I I traded in the morning and was having a great day with him. We were riding my we have a bike where I ride and he rides on it with me and we went out to a park and we're having just an awesome day and I checked my phone. I refreshed the price of the stock and I saw that it I don't remember which one it was. now it was in August.

Maybe someone can refresh my memory, but um, you know I'd been trading it and it had gone all the way up from like the teens or low 20s all the way up to 50 a share. And sure enough I thought god dang it because initially that immediate reaction fomo my god, I missed it. Unbelievable. And once again I had to bring myself back down grounded.

Hey man, you're out here having an awesome afternoon with your kid, trying to be a great dad, Trying to be a dad that's not away working his whole childhood. A lot of parents. You know, many of you might have grown up with this. a parent that's working your whole childhood long hours.

whether and and of all all wealth. I mean, you have people that don't have a lot of money. They're working long hours. You have people that are very wealthy who are working long hours.

Some of the kids that I remember going to school with, uh, some of them. Their parents sent them away to school. You know they they didn't have time even to be parents. So they sent them away to school at you know, 15.

They didn't see their parents at all. So and they you know that's on the wealthy side. I mean, you see it on all sides and I don't want to be that kind of dad. I don't want to be spending all of my time chasing stocks, chasing momentum and missing out on life.

So and I also would encourage you. I can't tell you how many students I've talked to who have said Ross Man, I was up a thousand dollars today. Let's just say, for example, I kept trading and I gave it all back. Now I'm down a thousand.

I don't know when to stop. How do I know when to stop? You know, some days I feel like if I keep trading, maybe it turns into the best day of my career. Other days, I keep trading and well, I go from green on the day to red. It's important to have some thresholds about that.

One of the things that I've often said is that if I give back half my profit, that's usually a good time to say. All right, enough's enough. So if I go from up and that's after I hit my my daily goal, my daily goal is 20 grand. So I didn't even hit my daily goal today.

But you know, daily goal is 20 grand. So if I give back half and I'm up only 10, that's when I say all right, enough's enough. Now I don't always. But that's word to the wise, that's the right thing to do.

Hey, as a reminder, I'm talking about trading profits. You guys probably know this already in case you didn't. Trading is risky. The stock that's up 500 percent today.

Imagine if you shorted it. Imagine how crazy that would be. So be mindful of the fact that trading is risky. and as a beginner trader, you should assume that my results are not typical.

and you should assume that you'll probably lose money without assumption. Mind trading a simulator before you put real money on the line. Take it slow. So with that said, um, one of the things that is really tough for a beginner is knowing when to stop.

When do I say all right? Enough's enough. And if you give back half your profit, do you have the discipline to follow those rules and walk away? Or do you keep trading to try to make back what you had? So someone's saying, hey, it's up 700 Right now, it's up to 70 70 plus dollars a share. That's awesome. That's awesome.

I mean, I'm I'm happy for you guys. And let's see what time is it? So it's uh, 7 30 So you still have 30 minutes left of after hours trading and then pre-market starts at 4am. I'm sure there'll be people waking up at 4am to trade it. Not me.

I'm not going to do that again. There's people out there that are going to want to do it, and you should if you want to. But for me, I'll focus on trading it during the time when volume will probably be peaking between 8 and 10 a.m and and I'm okay with that. You know that's that's that's the sweet spot usually for being the most aggressive.

And this particular stock you know the catalyst seems seems strong and I hope it does really well. I hope we get multi-day momentum. We may. But you know, remember, the market can be irrational.

It's at 83 right now. Amazing. So 100 is the next target. No doubt about that.

100. But trading the markets can be irrational. Stocks can be up far, far, higher than ever. makes sense.

And then they can reverse. you know, significantly. And so you know we've seen stocks go from. Let's see, there was one.

We were actually looking at the chart today. So the stock today, um was on the Gap scanner this morning. it was gapping up and it was at like a dollar 30. uh oh.

someone said 73, not 83. Okay so I'd still say 100 to be a Target, but 83 is would be better for that hundred dollar target 75 85 first, then 9500. But in any case, so we have this stock. um, it's a Chinese stock and the company last year in one day went from.

I was around five. Six dollars a share went up to ten. so it's up a hundred percent, goes up to fifteen, goes up to twenty, People are like oh my god. A lot of people sold.

They're out. They're like all right, that's good. It goes up to 30. it's going without me.

Goes to 40. What? This is crazy? Are you serious? 40 goes through 45, goes to 50, starts halting, going up right, circuit breaker halts, goes to and this is all in one day. in one day it goes to 55, goes to 60, goes to 70 to 75 dollars a share. at 75 dollars a share people were like this is crazy.

This doesn't make sense. How is this happening? As it broke 75 people started thinking 85, 95 100. this squeezes through 85 goes to 90. 95 hits 100 a share.

What goes up to 110 120, 130 goes up to 130 a share. Can you imagine that? Can you imagine from 10 bucks to 130 in one day? Now we're not far off on this one. This is from 10 bucks to 75 or 73. it's pretty good.

but the the crazy thing about this one is it went from 10 to 130 all the way back down to 10. and now it's at a dollar a share. Imagine if you were the guy that bought at 75 and you didn't take any off the table, you thought it's going to go to 150 200 table and very quickly it goes back to flat. You don't cut the loss.

10 000 shares of it at 775 a share, that's a 750 loss Today at a dollar. it's crazy. So you can't underestimate how irrational the market can be going both ways going up going back down. And that's why once again, successful traders take profit.

They take profit off the table. None of us know how high a stock is going to go. None of us know that we can guess. and maybe there's some people out there that made a good guess at this one because of the type of catalyst it was.

And it's political in nature that this might be one that would do something crazy. but there might have been other people who thought, man, people don't want. There's a lot of people out there with big money that also don't want to see this person succeed. Maybe they're going to rig the market.

Maybe they're going to do something to make it fail, right? So you're thinking two sides of that coin. On the one hand, a lot of people rooting a lot of people also saying no. So it's a battle. who's going to win? It's a real battle in that market, right? So you know, And you think, oh, there, there aren't things that market makers could do to hold it back.

Well, can't be so sure about that. And we've certainly seen in the case of Gamestop, these things with synthetic shorts and uh, some of the tricks that market makers have played in the past. So the market can be irrational, and some of it is driven by things that are far beyond our control and maybe we can't even fully comprehend. So when it's going up, we get in, we ride the momentum, and when it's turning around, we get out.

We don't hold in. Hope it doesn't matter. You know your political allegiance. It doesn't matter how you feel about the stock.

Ultimately, at a certain point, it's about managing your risk because the end of the day you own your account. It's your job to manage it right. You got to do what's right by you. I know there's a lot of people out there on, you know, Gamestop.

they don't want anyone to sell. Don't you dare sell your shares, right? Okay, you know camaraderie is important, I suppose. But um, you got to do what's right for you. You have to and you have to take profit off the table.

When you have profit paying yourself, you won't go broke paying yourself. There will certainly be times, and every successful trader knows this where you realize wow, I sold that too soon. But do you have profit in your pocket? If you do, you're doing better than the majority of people out there. So I think you're doing right and you can always try to do better.

And that's what I say. try to do better. I'll come back tomorrow. I'll try to do better.

and if the stock is really strong tomorrow between 8 30 and you know, 10 30, I'll probably make a lot more on it than I did today today. During that window of time, which is when I'm focusing on trading, I didn't really get great opportunities on it. It is what it is during the rest of the day when I'm focusing on being the best dad that I can be. I'm not staring at my phone.

I'm not staring in front of the computer. Sitting in front of the computer. You know. And so um, I see Alan.

He says Ross I blew up my account today and another person says I was trying to short it today. Yeah, I mean there's no doubt about it that there are people that lost money on the stock today and you feel, Listen, And it's happened to me too. where I've lost money on one of these stocks that's gone up like 700 percent and I know exactly how you feel You feel like an idiot. I know that because that's been me on one of the other ones today.

I like. literally Top tip. I bought the very top and then it turned around. why did I buy it there? Because I thought it was going to go higher.

Well, but it turned around. So you know my my 26 000 share trade at 1480. Yeah, I mean there's a part of me that almost wishes like I'd had a stroke in in my office and no one knew that I was holding 26 000 shares of it. and then at least when I came when I woke up from the stroke, I'd have 750 000 or a million dollars, you know.

But then on the other hand, um, I don't want to wish that. it's crazy, you know. But the only way I'd still be holding that position is if I'd had a stroke because any successful trader would be breaking all the rules to not be taking money off the table. And you know with the whole thing with um, the the trader who made like 40 million dollars or whatever it was on Gamestop, um, you know I.

I would argue that that's that. strategy is not. It's certainly not day trading. I mean, he wasn't day trading the stock and and I'm a day trader.

so we have very different strategies. If you're a swing trader and short term investor, then part of that strategy is buy and kind of set it and forget it. Walk away, don't look at it, just let it do its thing. You know you set your stop or whatever and then you just let it ride and that's the right strat.

That's the right approach for that strategy, if that's your strategy. One of the challenges with swing trading and sort of medium term investing is that it takes a really long time to develop confidence because it takes a long time to develop a track record. You know one or two trades isn't enough of a track record. Even if those two trades took six weeks each and they're both huge winners, That's only two trades.

It's how do you develop a real track record and that's that's what takes time. So as so, day trading. It's a little bit easier to produce a track record if you're taking five to ten trades a day. And I'm sure there's people out there that could have taken hundreds of trades today because there was so much.

There was so much opportunity. So um, yeah, I mean, I don't know. It's uh, in my opinion, easier to develop that track record day trading than then short-term investing, short-term investing, and swing trading. It takes time to get good at it and you know you got to be a little bit lucky.

You know you can be as educated as you can be, but still comes down to a little bit of luck. So uh, why don't I do a little Q A with you guys since uh, I'm here and you guys are here. And if you haven't hit the thumbs up on the stream, hit the thumbs up. Uh well.

First, why don't you guys all type how much you made today? Let's let's do a little informal, uh, Youtube survey type how much you made today. I want to see how much you made. If you're negative, if you lost money, right that you lost money, let's be honest. If you made Xero and you didn't trade it, you didn't trade it All right? So Judson says he made twenty thousand dollars.

Jose says he's down eighteen hundred dollars. Super depressed. I hear you. Steven's up 550.

uh, um, let's looks like I can't pronounce your name, but you're up 700. Okay, good. Uh. 12 000? Nice.

Very good. 11 000 for Brian 800 for Josh. Um, Ben is up. Six bucks.

Fifty thousand for one? Uh, trader good for you. Two thousand for Mighty Mouse? Down Thirteen up. Two hundred, Seven thousand. Two hundred minus sixty.

Just started all right. 1500. Sam lost 107 bucks. Amber made 580.

Uh, Cosby says I don't know how to day trade, but I want to. If you want to learn my strategy, you can go to Warriortrading.com slash Strategy. All right, Warriortrading.com strategy. That gives you the breakdown of my strategy: Uh, Kojack 2800 After being down 19 on it, I don't know if that's 1900.

A thousand 2 300, 2 000 made 15 bucks on the warrants. Down: 24 Down: 69. Up 3 500 3500 Stopped out Minus 300 Lost: 125. 78 000 Good for you.

That's the biggest one I've seen so far. 14 1200 Down 15 550 450. I missed 30k. I sold for 3k.

Dude, I missed 750 000. I don't want to hear about it. Let's see 550 2600 So Tommy says 700 000. All right, well, 177 000.

uh, if those are if those are real you, you've got a pat on the back for me. Man that's huge. Robert 82 000. Whoo some big guns! Wow 10 000 for Matt Good for you Matt 4700 Jonathan good.

Tommy says 700 000 on Dw Ac good for you and he's just holding good for you. Man, it's a big one. I mean if you got it, good for you, good job. 14 000 Bash says he's down 34 000 So that's the biggest loss I've seen here.

Wow 700 Minus 13 000 Uh oh, that's brutal. Wow. Yeah, well you know you take all of it with a grain of salt. It's uh, anyone could say anything.

but All right. All right. So let me look at some Q A. All right.

Um, so Arthur, do I plan on trading earlier than usual Due to this momentum? I don't know. I mean. so here's the problem with continuation. I'll look at the chart.

Um, tonight, it's after hours. only has 15 minutes left. I'll I'll look at the chart. I'm not.

I'm not gonna get up at four in the morning. I mean, that's that's I. I don't like. I've done that before I did that on Gamestop.

But the volume is so light, the spreads are so big, you know you get it going the right direction, but you get to go in the wrong direction. You can really get crushed. So um, I'm not going to do that. I might.

I might log in a little earlier tomorrow, a little bit earlier and see how things are looking. Yeah, so I might log in a little earlier and we'll see how things are looking. But and, of course, uh, make sure you guys are subscribed to the channel because I will be streaming tomorrow. Eric says he's up a million dollars.

It's not impossible. Shonda says she's down or he's down 9850. Very very specific so it's believable. Let's see.

um, my phone must be like getting hotter. It's all of a sudden got like a little bit of a haze to it. So uh, let's let's do a little bit more. Q A I struggle with not selling soon enough.

Most people struggle with selling too soon. Not selling soon enough means you're selling on the backsides. It's coming back down. So my approach.

So one of the things that as a beginner trader I did was one entry, one exit, and then I started to realize you can scale in and out of the trades so you can scale in, you can scale out so I could take a starter and then add if it's going my in my favor. And then once I want to start taking some profit off the table, I can start. I could sell half and then sell some more. So if you're selling too late I mean yeah, you might want to start thinking about scaling my strategy and game plan for tomorrow.

Well, as a Momentum trader, it's really no different. We may have a good continuation set up. I will be aggressive on it and trade it as well as I can. We may also see sympathy momentum on other stocks, and if we do, I'm going to try to be aggressive on those as well.

Clearly, we're in a little at least kind of window of some real heat, some real hot momentum. So I'm going to try to trade as aggressively as I can. But I don't want to forget about the fact that sometimes when you have a big move and a big gap up by the next day it's starting to reverse. and then on the daily chart you have a red topping tail candle and a reversal and so that can be a real problem.

So that's a risk factor. It was a risk factor today on Hx and that was a problem there where we got that that gap up squeeze but then by the bell it was red and selling off hard. So I hope that that doesn't happen. I hope that it continues tomorrow morning, but I don't want to.

Um, you know I don't want to be just totally optimistic. I have to be practical and you know the reality is, it may work, but it may not tomorrow. So tomorrow may end up being something different. We'll see, Um, you know.

but but cautiously optimistic. And I I think because the news, because it's political, because it's going to be on all the news networks, there's going to be a lot. I mean I didn't even know that this was happening until this morning. I think that's when the news was really released.

So there's a lot of people that are just learning about it now that are might be logging in tonight or tomorrow morning to say hey, I want to be part of this So could we get like a you know, multi-day move? We could. But also don't forget that there's a lot of institutional investors that are up big right now and own millions of shares. and when they start pressing the sell button and taking some profit, those are going to be some big sell orders. So I I don't know.

um, you know when that's going to happen, but that's that's a risk factor. So if you start seeing 500 000 share sell orders, uh, just be just be mindful about that Again, I encourage you guys who want to learn more about my strategy and go to Warriortrading.com Strategy that Page has. Um, basically it's the curriculum that I teach. So that curriculum outlines my strategy at a high level.

15 Chapter Warrior Starter Course 20 Chapter Warrior Pro Course: So uh, question Russ since you're killing it. why don't you also short stocks using the same strategy? So one of the things that's really interesting there is that when you want to buy a stock, you can buy any stock you want You can you press the buy button, you're in. Shorting is not the same for two reasons. Number one, we have the short sale restriction.

So the short sale restriction. Regardless of whether or not you could borrow, let's assume everything is easy to borrow. All right. So if everything's easy to borrow, you have short sale restriction.

And when a stock has short sale restriction, you can only short on an uptick, so that makes it harder to get in. Imagine if you could only buy a stock on a down tick, you could only buy it from someone selling it to you. That severely limits the buying. Be right, If you could only buy when someone's selling to you, you're gonna be constantly waiting to get filled.

So short sale restriction is the same, but but inverse. You can't sell. You have it makes it. It forces you to start to short into squeezes as it's going against you to start to catch a little bit of pain because you have to be shorting as it's going up because once it starts going down, the short sale restriction won't let you get in at the same spot.

So for me, short sale restriction is A is a big deal in the way that I trade because I for the most part market in and mark it out. They're marketable limit orders, but they're essentially market orders, so not being able to use a market order for me is a big deal. So number one short sale restriction. That's number one.

Number two is availability of shares to borrow. You can buy any stock you want, but you can't short any stock you want because your broker needs to have shares available to borrow. And so this stock today. it was very, very hard to borrow.

Right now, there were some people that had shares available, but it was harder to borrow with small cap stocks, low float stocks. Also, for what it's worth, you can't just buy puts, You can't create options because many of them don't even have options chains. So you if you want the only way you can bet against the stock is to actually short the stock. That's the only way shorting.

you know, actually selling it's not through puts. Okay, so but the um, the availability of shares to borrow is a real problem. So we've got the situation. where a broker like E-trade or Td Ameritrade, they'll have shares to borrow on big big stocks.

They'll have shares to borrow on Facebook or Tesla or Netflix Apple. They're not going to have shares to borrow on these really cheap stocks, and on these really volatile stocks, they just won't. They almost never do. So if you want to trade those ones to the short side, you're going to need to find a more exclusive broker that caters to short selling.

A lot of those brokers have high minimum account requirements because they don't want to take your regular 25 30, 000 account. They want 50 hundred thousand, two hundred fifty thousand dollar accounts. They want big accounts. They want big traders, and so those are the types of people that they're looking for.

They're gonna set minimum accounts that are higher minimum account sizes that are higher. They're going to price out the little guys, so most beginner trader traders wouldn't be able to trade with that type of broker because they're going to get priced out number two or number three if you could. You have to reserve your shares, so you have to pay to borrow the shares. Now, the price of borrowing the shares varies substantially between different stocks and between different brokers.

But a typical a typical borrow on a stock that's not super super exciting might only be four or five cents a share. So to reserve ten thousand shares might cost you three or four hundred dollars. But you're out of pocket. Three or four hundred dollars.

Three or four hundred dollars is a lot of money, right? And you're out of pocket that just on the reserve before you've even taken the trade. So essentially your fees and commissions you start the day minus 300 and then from there you have to start digging yourself out of the hole just in commissions. So it sets the bar a little bit higher to be successful when you have to pay that reserve fee and you do that every day 300 a day. I mean, you're talking about 80 000 a year.

Whatever it is that's a lot of money just in reserve fees and on some stocks, the reserve fees can be fifteen twenty thirty cents a share. So ten thousand shares is going to cost you two thousand dollars to borrow the shares. Now, if you can make more than that, it's worth it. But it immediately puts you in the hole before you've even taken the first trade.

So you know the and then the fourth reason. um, is you cannot short stocks in a retirement account. So if you want to trade with Uh without paying income tax on the trades, you can trade in a retirement account tax-free So my trades today were in my retirement account. I paid no income tax on it.

No income tax. That's ten thousand dollars. Free and clear. I don't know the Irs anything at the end of the year for that ten thousand dollars.

If you trade that same, have that same trade in a regular account. Well, you've got your income tax. If you're making over a million dollars a year, you're going to be at 39 Federal plus State. So you could easily if you make a million, be paying 300 plus thousand 400 000 in income tax, right? So number One Again, this is just and this is my opinion.

I'm not and I'm not trying to say you can't short stocks because some stocks are easy to borrow and you don't have reserve fees, but it's typically not The ones like what was making the big move today. That one was not easy to borrow for me. and those are the ones that are fun to trade. So that was a stock that would have been too expensive to borrow if you could even have found it, right? even if you could have found shares to borrow.

And then if you had found them, not only do you first have to dig yourself out of the hole from the reserve fees, well don't forget you're gonna have income tax on that profit. Now I know some traders are saying listen, I'm only trying to make you know, 200 a day. If I could make 50 000 a year, I'd be super happy with that. You know my taxes aren't going to be that bad on that lower income.

and I like shorting stocks. So okay, go for it. You know, do your thing. But the reason that I'm not as interested is because I'll keep only about 55 cents of every dollar I make.

To the short side, the reserve fees are higher and I think unfortunately it is a strategy that does carry a lot of risk. When you have stocks like what you have today, the higher they go, the more convinced you feel that it's a reversal set up, that it's a good short, but they can just keep going higher and higher and higher. It was a good short 27 probably looked like it. Then it goes to 30 to 35 to 40 to 45 and you keep adding because you think it's only a better short.

Now it's up even higher. And then next you know it's 50 60 a share and that's how you blow up an account. It's gone. That's the thing that I have to be with myself.

Really careful about when it comes to reversal trades, because when you short strong stocks and you buy really weak stocks, the like when you're buying a weak stock, the lower it goes, you feel like the better a deal you're getting. It's even a better deal. So you tend to keep adding because you know when it reverses it'll be even bigger reversal and so you do the same thing to the short side. it starts going up.

You think, well, okay, I'll just enter a thousand shares here. It's even. it was a good short there. Now it's even more extended.

It's gonna reverse, but nobody knows what's gonna happen. And if you're wrong and it doesn't reverse where you thought it was going to reverse. Next thing you know you're getting smoked and it's happened to me. So I've learned that from experience.

you know Again, I'm not out there saying that I'm the best trader in the world. There's no doubt people out there that make far more than me. There's people out there that are have been trading for longer than me, but this is the strategy that I trade. I did turn less than 600 bucks into over 8 million and I'm still trading every single day.

So I figured out something that works. and I trade primarily to the long side. I trade momentum, I buy high, I sell higher, and right now I trade for two to three hours a day. Most days Monday through Friday I don't trade in the afternoons.

now. Our chat rooms at Warrior Trading are open pre-market and into after hours so folks that want to trade longer are welcome to. We have some students who have badges. Um, like A When a student has verified to us that they've achieved a certain level of profitability, then they can get a badge.

So we have Um, students that have million dollar badges. We have students that have 750, 000, 500, 250, 100, 000 badges. So those types of traders who have shown that they've achieved some profit at some period of time, they're of course, in the chat room. Some of them are hungrier than me.

Some of them are trading longer hours. And so those are traders that, uh, as a beginner trader, it's helpful to see, well, what are these guys doing? Okay, Ross is. you know he's off doing other stuff Well, Doesn't mean the market's closed. I'm going to keep watching.

I'm going to keep seeing what's happening, and I'm going to keep an eye on some of these other folks. One of the things that's really hard as a beginner trader is j It's just getting started. It's just knowing what's the right stock to focus on and what's the right entry. What's the setup? And so being part of a community is a pretty big deal.

When you try to do it all by yourself, you just there's so much going on. it feels overwhelming and that's normal. That's to be expected that it would feel that way. It doesn't have to be that way.

though. You can be part of a community and you know, if you want to learn my strategy, I'd love to teach it to you. You know you guys know this. I've got the Warrior starter courses which are our introductory courses and then I've got the Warrior pro course which is the, uh, full-length uh course that covers all of my strategy, you know? And I spend.

um, I've I've spent a lot of time working with students over the years and I can tell you that trading is not easy. It's risky. It does take, uh, it takes a lot. but for those that want to learn it's it is a lot of fun.

Let's see how good you really are. Will it pass a hundred? Well, I'm not predicting the future here. Now with chart patterns. Looking at charts I can make with some degree of success and accuracy.

I can make some short-term predictions of what I think is going to happen at this time of day. after hours. I can't predict what's going to happen overnight. I I can't.

We don't know what kind of news might come out overnight. that's a variable and we have no control over it. Tomorrow morning. It wouldn't surprise me at 4 00 Am if there was an algo spike on light volume.

might even be a spike to 100, but on very light volume and then a fade. and then by the time I'm sitting down at, you know, 7, 30 or 8 30, it's already pulled back. That would be very common. We've seen that pattern a lot then.

Kind of like what we saw today. As we get closer to the open, more traders start logging on, more people start seeing the setup. It starts to curl up at the open. Then maybe when the bell rings, we get a squeeze up.

On the other hand, it could make that pre-market spike start to reverse and then just start selling hard. And what's the difference? Well, you could have insiders that are starting to sell some of the millions of shares that they've um, they've had from a great cost basis. so I'm not getting up at 4am. It's not my, uh, that's that's not my cup of tea.

I've done that before and I'm not interested in doing that as I sit right now. Uh, I'm up right on the month, probably around a hundred and forty thousand dollars and it's been pretty low key. Like I said, my biggest red day was six hundred dollars so far, this month, biggest green day, sixty thousand, and everything else has been in between. I'm going to come in tomorrow the same as always.

Round 8 8, 30. Maybe I'll come in a little earlier, I don't know, but I'll sit down and I will trade the market that's right in front of me. If it's the same stock as today, that's awesome. If it's something different, it's something different.

I don't really care. As a Momentum trader, I'm just looking for Momentum and I have my hours that I focus on trading and I'll make as much as I can during that period of time. I'll be mindful of my risk. I don't want to overstay my welcome.

If I go red, I'll be grateful to get back into the green. Today's a day where I was up. Like I said, eight thousand dollars, lost, it all was down 600 or 700 and then rallied back to up 10 000. And I said, you know what? Be grateful for that.

ten thousand dollars is really good money. Pretty much, uh, anywhere in the world. I think that's good money for one for one day, and for really just a few hours of work. So I think that's the thing that a lot of traders these, and a lot of beginner traders.

They get kind of greedy. They see dollar signs, and they think this is the one that I'm going to retire on. I don't think I'll ever have a trade that's going to give me retirement. I mean, even if I had made even, even if I had held the full 26 000 shares which would have been crazy from 15 all the way up to 50 a share, right? So 35, 30, 30.

Let's say, I have 30 points in my favor. So 750 000? I'm not going to retire on 750 000. That's not that, honestly is not going to move the needle for me. I mean I'm not saying that that wouldn't be that would be really solid on the year I'm at a little under 3 million, so it would be.

It would increase my annual profit by 20 in one day. That would be cool, but it's not gonna change my life. I'm not gonna retire on it. I'm not gonna.

You know it would just be. It would be a great day. But it you know when you start thinking of in those kind of ways of like this stock I'm gonna retire on. You're looking for a lottery ticket.

and nine out of ten times you buy a lottery ticket. Probably even more than that, you're gonna come up empty and every time you take it, you're going to be taking risk and it's just not worth it. I mean again, to do what you want. You can gamble in the market.

If you want to gamble. If you like gambling and you like the thrill, you can gamble in the market if you just want to trade. If you want to focus on managing risk, if you want to do this for a long time, you don't empower one trade to make or break your career to blow your account. You don't do that.

Success as a trader is about taking profit. and it's about consistency. over long periods of time. Thousands and thousands and thousands of trades with average winners being small.

Maybe your average winners are only 500 bucks, but you know, think about that for a second. A thousand a thousand trades, A thousand dollar average winner. You know you're a thousand trades away from a million bucks now. of course, that's if your accuracy was 100, Which it's not for anyone, but you have to think about that path a little bit.

What is my path to success? What does it look like? What do I have to do? What thresholds? Do I have to meet milestones? Do I have to meet? Yeah. And let's not forget about the fact that, um, I did three semesters of college, dropped out, was living at home pumping gas at 21 years old, 22 years old minimum wage. I know what it's like to work a minimum wage job, and I I, I remind myself of that on days like today when I'm not feeling grateful, why don't I drive over to a gas station, give someone ten thousand dollars if I'm having a hard time feeling grateful about it, because there's a lot of people that that could change their entire year. you know I you have to set goals for yourself.

and if your goal is 20 000 a day, which mine is and you come up short. Okay, so you came up a little bit short, that's fine. I mean, I know that I'm not gonna go to the gas station. Tell people that my daily goal is twenty thousand dollars a day trading because they're gonna just not understand that because it's just such a different number from what they're used to.

A day where I lose 200 000 trading, I can brush that off. I'm not gonna go tell that to someone who's making thirty thousand dollars a year, they're not gonna get it. So I understand that it's not all like context. You can make yourself feel better.

If you compare yourself to someone who's not making a lot of money, that's that's helpful. Maybe, but at the same time you are compared. you should compare yourself to you and I get competitive with myself. I think I can do better.

I know I can do better. Uh, today though. I mean I I The thing that was tricky for me trading the warrants. Trading warrants should be like trading options and that they their price is fixed to the underlying asset.

But what we have found is that sometimes warrants become very disconnected from the price of the underlying asset and that's confusing. It doesn't make a lot of sense, it shouldn't really be that way, but but it is. So I did trade some of the warrants and I was just like confused at the way my orders were fulfilling. Uh, it was different from what I'm used to.

So that kind of threw me off a little bit and I had one trade that I jumped in the warrants and I was down a dollar a share and I was just like wow, am I gonna lose ten thousand dollars on this trade right now and it immediately popped back up It just, um, you know, I just sort of. I I was a little bit. um, the thing. So here's the thing.

Dwac traded a little bit like an ipo today and ipos can be tricky because they can have extremely high volume 480 million, 500 plus million shares by the end of the day. Volume is so high it's hard to read the tape. I'm a tape reader, so if I'm having a hard time reading the tape, that's an issue Because that for me is a strategy and if I can't read it well, it's a problem. Um, because there's so much there was was were so many institutional traders.

The degree of institutional buying and selling can also be a little bit confusing. Algos start to jump on these stocks and then you start seeing these traps and these big rejections. these like Algo sweeps and so that stuff starts to get a little tricky and you'd think man, it's not possible for a stock to go up that much and to lose money on it. But when you start zoom zooming in, you know from the daily chart to the 15 minute to the 10 minute to the five minute to the one minute you realize that it actually is sometimes, uh, looks a little choppy and so there were some spots there especially early where it was fairly choppy and I was like, I don't know Man, I'm not feeling I'm having a hard time getting in the groove on this one so I think I probably would have done better if I had kept trading it later into the day because that's when it started to open up.

but it just didn't work for my schedule today and that's life. That's okay. So uh. anyways, thank you guys for hitting the thumbs up those you guys who have gotten tuned in.

I'm just scrolling back up through the comments and seeing if there's any questions. Happy! Let's see. So how much money do I need to be able to make twenty thousand dollars a day? So today I think my biggest trade was probably around like three hundred thousand dollars and that's that's not a huge position for me. My biggest trade this year was probably around smaller position for me.

I could have a day where I made today using that same amount. I didn't make as much. you know? I just so I think that there's people out there no doubt who could have made ten thousand with less than a three hundred thousand dollar, um, amount of buying power. But so retirement accounts you can't use leverage on.

So I don't use leverage in my retirement account. but I also have an account that does give me leverage and I will switch to that account sometimes if I want to use if I want the leverage. but then the profit on that account is taxable. So it's sort of the same situation as the Um, you know, as the as the As shorting.

So basically using the leverage instead of maybe making ten thousand, I make thirty thousand. Well, but then fifteen thousand has to go. You know, to taxes. So I'm really only up another five.

Hmm, man, that's a lot of money. Uh, pay and tax. I would say my strategy has developed over time. I don't know that I would really say evolved because, um, I mean, I don't know.

I guess that depends on like, sort of how you define that. But it's developed, it's become more comprehensive. It's become. I guess you could say evolved.

It's become more sophisticated. It hasn't really changed from its core because it's still Momentum Trading. It really always has been Momentum trading. But there are.

It's more sophisticated. I've learned Momentum. Uh, I've learned it really well over the years. So I trade it in ways that I didn't even know you could trade it five years ago.

So I've become a better trader just through the development of, uh, sort of setups that I trade and things like that. Coach says he bought it ten dollars and sold at 23. he's thinking he sold too early. Well, you made a hundred percent good for you I always seem to buy the top.

I know the feeling I I I mean that happens to me too, but that's part of momentum trading. Buy high, sell higher Buy high Sell higher Buy high start to turn around. cut the loss. So the last trade maybe you do by the top, but then you cut the loss quick.

So thank you guys again for tuning in. Thank you for hitting the thumbs up! If you want to learn more about my strategy, come over to Warriortrading.com Strategy. On that page you'll see my curriculum for the warriors start, of course the Warrior Pro course in our chat room the way I found Dw Dc Aw was on our scanners. Warrior students have access to our scanners, they scan the market in real time for stocks that are moving so it's like a radar and if something is moving you will know about it.

and you also have access to our chat room so you can communicate with other traders. You can listen to me, hear my feedback every day while I'm trading, and and of course students that join right now because we're doing something kind of cool. You'll have access to a trading simulator so that simulator lets you practice the strategies you're learning in real time real-time market data level two with hot keys. You could practice trading with Sim pretend money because don't put real money on the line unt