Hey everyone Alright, so sitting here third consecutive read day not the type of streak that I look to set. three read days in a row is not ideal. I had three read days in a row at the end of February going into the first day of March It's not the first time it's happened this year, might not be the last time it happens and with every loss comes a lesson. so we're going to talk about that tomorrow during my workshop.

Duggan Host at 1:00 P.m. Eastern Don't leave. Your register is right below. So I really encourage you guys to register.

I'll give you a free copy of my best-selling book titled End Day Trade and we're gonna talk about that process of bouncing back after a read day because from 503 dollars up to a million bucks I had a fair number of read days and I have a few that were pretty big and that other trainers potentially you know they could have been career-ending read days not because the loss was so big, but because it got them so shaken that they got off their game and then they just start unraveling, getting more stressed out, getting more reactive, getting more aggressive at the wrong times, and it just starts a downward spiral. So I'm gonna talk about how to cut that downward spiral real quick so you can have a couple of read days which is part trading and bounce off them and then search back to new highs. Alright, so that's gonna come up tomorrow. 1:00 p.m.

Eastern I Hope to see you guys there and as always questions comments on today's recap. leave them below and I'll come back through an answer in the sacrament. All right everyone. so we're gonna go over the trades from today.

Today is gonna be my third consecutive red day, which is awful I Don't like having three consecutive red days, but as I said yesterday, it's not uncommon for red days to get clustered together. I don't remember the last time I had a three-day red stretch there I might have had one. Well, March March ended up actually being a red month, but it wasn't from a consecutive red day losing streak. it was just individual red days scattered throughout.

So this might actually be, you know. I had a three day red streak at the end of February they carried it to the first day of March So that was the last three-day red streak I had. It's obviously not the type of record you want to be setting most consecutive losing days in a row, although it's one that I've come close to having a pretty long stretches of you know throughout my career as a trader. So today, um, what we'll do.

We'll look at the Gap scanner, we'll look at kind of how I traded What? I was looking at where things went wrong and then you know we'll talk about this sort of big concept that with each loss comes a lesson. So I'm down 2,900 here in my main account which is my like regular trading account and I'm down 5,800 in my IRA account. So combined you know 80 was that nine thousand, eighty, seven hundred dollars in the red. That's a good sized red day.

Really could have done without it, but you know it's part of the deal. and this all does at the end of the day come down to averages. So even you know last year making half a million dollars, it wasn't without a few big red days. And of course I had some big green days and at the end of the month, the end of the year, everything Everage is out.

So as long as you're generally making more than you're losing and you're generally winning more often than you're losing, you will do okay. But it's just impossible to avoid red days. It would be like trying to be a boxer and never take a hit. You're gonna take hits.

It's part of the deal and it's something that some traders certainly struggle with. and I've struggled with it more so at the beginning of my career than the now when I was tighter on money. When you know the difference between success and failure, the stakes were higher, the pressure was higher. It was scarier thinking, well, maybe my strategy is broken, it doesn't work anymore.

And now that I've had all this time of the ups and the downs and the ups and the downs, I no longer have those fears, the fear, or the emotion that I have at this point is just man. that's frustrating the markets difficult and and not really the the setups are not responding the way I would expect them to respond. We're seeing poor follow-through and so it creates a sense of frustration and an annoyance. but not, but not anything too serious beyond that.

So this morning our leading gapper was Ml NT. Now Ml NT I I knew was very risky and I did not trade it right out of the gate I waited for a red-green setup on it. so Ml NT was gapping up about a hundred and twenty-nine percent and it was priced at four dollars and fifty four cents coming into the open. this one eye right away that it was not a quality because the float and the volume were both a little too high pre market.

and of course the float doesn't change pre market or after-hours or whatever. but the flow at eight million shares is a little higher than what we've seen for the setups that gave us really like homerun momentum and four point eight million shares of volume pre market that we already sort of missed the beginning of the move and you can see that very clearly I mean it was already up quite a bit by the time the bell rang. so the bell rings and I said I'm not gonna watch this for a gap and go trade because the gap and Goes setups I haven't really been working super well I'm gonna wait for the first pullback and then a red to green setup. We got the first pullback right here.

We get the red to green setup right here. I Get in anticipating the break over the half dollar I Bought at 4:40 Now the first camel to make a new high would have been really hard to buy because the high of this candle is 417 and the close of this candle was 414. The open of this candle was 416 so it opened right at that point which is very hard to feel confident. Pressing the Buy button and then it surged up.

I Was looking at this kind of little trigger here at 39 and thinking that if it broke that level we should break over the half dollar. and if we broke over the half dollar, we should retest hi a day and get a quick squeeze right up to five dollars. So that's what I was looking at that was my my kind of back of the my back of mine target and we well popped up to 48 and then dropped all the way back down to 388. Total Fail! Now this is tricky because you know I got in with 9,000 shares at 4:40 I Added thinking it was gonna break over the half dollar, it didn't Well, I added up to full size of 9000 shares it didn't break over 440.

it drops down and instantly I mean almost instantly I was down 30 cents and I just was like you kidding me? Let's just give it a second. Let's see if it pops back up like this. if it pulled back here and was red but did not break the low here, you know I could maybe give it a second but it just kept going lower and I had to sell so lost you know 40 cents or so on 9,000 shares. $3,500 Loss: Disappointing Specs was a trade I took off the high day Momo scanner only made 500 bucks on it that one I bought for the break of three.

It ended up hitting a high of like 320 I'll show you that one in a second. So anyways, this goes lower, it goes lower and then look at this, it breaks over 450 and squeezes all the way up to 465 565. So I 100% had the right idea, My timing was wrong and it and I got in for a little early before confirmation and then we got the break. And what's so frustrating is that I missed this trade I missed it because at this point I was just like you know what? I'm frustrated I'm already at my max loss I switched to Ml I switched to my IRA account I Ended up taking one trade coming out of the circuit breaker halt here.

Just a small scalp. $637 Whatever. Nothing to be that excited about It squeezed up to a high of 590 which I thought would give us a break of 6. did not dropped all the way back down to 493.

so a good thing I didn't add up there and since then has just been dipping back down. I mean it's coming up a little bit here, but not really much So that's really disappointing because of course, if I had had this, you know, if that this had happened right here, my day would have been completely different because this 9,000 share position would have been a you know, 3500 4500 dollar plus winner if I'd been able to jump in right here. If I've gotten back, even with six thousand shares, certainly were to recoup that loss. But I missed that opportunity and I missed it cuz I was focusing on ETS L which is no, that's not the symbol.

Hang on. Yes TR Yes TR you know this this one I even waited for the first five-minute Campbell to make a new high so you know I didn't just jump into it as it was squeezing up. This one got me good a couple months ago back in in in March it's actually the stock I've lost the most on in my career but you know I was like I have a bias on it I'm not going to trade it and then it goes from a dollar fifty to three and I was like okay, well Claire maybe I shouldn't have a bias. Let's keep an open mind.

It's clearly showing it can move 200 moving averages here 341 if it breaks that level room up to 4, maybe higher. So I was like alright I'll take the first five-minute candle to make a new high I'm gonna give it a chance. 5-minute candle, make a new high. That happens right here and it makes a new high by 2 cents per share and then drops all the way back down to $2 and you know on this one I just I mean I bought the break of of 250 and then I added I saw the green on the time in sales I added I was like yeah, this looks good, looks like it's gonna break 250 275.

Next thing you know we're gonna be at 3 dollars. This thing's gonna potentially squeeze up, get hauled to the halt level, was showing it like 389 or 289 and I was thinking yep, this thing's gonna squeeze up first 5-minute kalyan make a new high, we'll test the two hundred. Well I was wrong obviously and stopped out. Took the loss and that was it at that point.

I was just like I'm done for for the day. So you know again, this is part of the deal. On a on a day on a stronger day, this might have worked I think M TSL or sorry Ml NT I'm getting confused with the symbols: Ml NT I think this was taking most of the attention from traders. Look at the high here of 525, you know be interesting to see what it does if it breaks 525 and 550 if we do get another surge and squeeze up through 6.

But of course by now I'm already down below max laws I can't keep trading I tighten the max loss to $2,000 which means if I'm down more than 2 grand I can't take a new trade I Have my two accounts and the benefit of the two accounts is that it does make the Green Day's it can amplify the Green Day's It can also kind of soften the blow if the red days. I'm trading across two accounts here, so you know yeah, I'm down three grand in this account and that's not the end of the world. Yeah, I'm down 5,800 in this account. That's also not really the end of the world.

If I was down eighty, eight hundred and one, that maybe would feel a little bit worse. but of course if all of this was in one account would be a $300,000 account. So yeah, I Just you know Again, would emphasize that the the way that I'm trading right now is with larger size and I am taking a bit more risk and this month is kind of disappointing because we got off to such a strong start in the first two weeks and I made fifty thousand dollars and now this week I'm down like eighteen thousand and so I'm back to up only about thirty-one thirty-two thousand on the month which is a little bit disappointing. but of course I do these recaps every single day Green Day or red Day because that's part of my commitment to be transparent with you guys.

And so at the end of each month I upload my broker statements to the website right down here. You can see it down at the footer the link for verified broker statements. so you know the May statements are up here. Eighty-six thousand dollars of profit April March You know March was a red month and disappointing as it was to finish a month down 21 grand you know did the recaps every day, posted the P&L post to the broker statements cuz this is just part of the deal last year I had definitely one red month I think it was just one red month last year and I can check my my stats here real quick but you know red months are gonna happen and for a beginner trader, they're a little bit more stressful because you're not totally sure you know.

am I red because my strategy stopped working or am I red because I just happen to have a, you know, a little bit of a bad streak. the markets a little tough right now and I just need to take it a little easier. So let's see. let's filter this for 2018.

Detailed: So yeah: I Had a red red month in February last year of course January Well, this is gross profit, but in any case, that was a red month. August and September were basically breakeven months in 2018, but June and July you know June I did 43,000 So I'll see if I can top June of last year. which means I need to make another 11 thousand dollars between now and the end of the month. July I did 60,000 Well you know, new Month right around the corner.

New Month New you new goal. So try to do beat 60,000 and then August and September The bar is set super low so if I can make even 20,000 each of those months, I'll be in great shape. But of course I'll keep my forty thousand dollar monthly goal. So you know this was all of this.

You know the cumulative profit of all this is five hundred thousand dollars. But it doesn't come at. you know, five hundred thousand dollars divided by two hundred and fifty trading days? You know that would just be averaging. Well, that's not right.

That would just be averaging a steady ramble $2,000 a day, right? So you know the reality is, you're gonna have eight, ten, fifteen, twenty thirty thousand dollar days when you're at this level that I'm at. And then you're gonna have days where you're down Five eight ten thousand dollars and you can't let it shake you. You can't get rattled. You know, we've all seen those sports games where you know you have a team that's in the lead going into the fourth quarter and then all of a sudden the lead gets smaller and smaller and smaller.

and they start getting shaken and rattled and nervous. and they start screwing up, making silly mistakes, and next thing you know, the momentum of that other team just pushes right through and it's that psychological, that mental battle more than anything to keep focus to stick with what you know, to not let yourself get thrown off balance because you know you've gotten your you've got yourself all worked up. So yeah, it's today. Red day obviously third red day and Rose disap.

In terms of following rules: Ml: NT The setups that I traded were both fine. I Just missed the really good setup. Specs off the gap off the hide. A moment with scanner that was fine for a break of three dollars didn't really hold up this one you see.

I had this pre market high. The bell rings, it starts to surge up, but really gave back those gains. In any case, it was fine to take a trade on it off the scanners. Yes! TR It was good that it didn't mark it into it as it was surging up because that's what I did last time and that cost me a lot more.

I Waited for the first candle to make a new high on this particular stock. For whatever reason, we did not get resolution on that 5-minute set up, but it was still a fairly valid 5-minute setup. Yes, you had the red flag. I suppose of the higher highest volume being a red candle, but lighter volume on the pullback candle I don't I I Don't think there was really significant rule breaking today.

It was just a day where most of the focus in the market was on M Ln T And so Specs and Estr didn't get a lot of follow-through because traders weren't really watching them. I Mean this has almost 40 million shares of all this is what people are focusing on today, so you know, be mindful of that sort of crowd mentality. The market that what the markets focusing on with the collective trading community is focusing on is often what you should probably be watching as well because it's gonna have the most. You know, the fiercest breakouts when they do happen and maybe you got to sit tight and the first one's a false breakout, but the second one rips and and that's why you guys stick with it for the stocks that are really in play and it was the same on VP th if we go back on BB th to that day that it made the big move up to $70 a share.

it tried and failed, tried and failed and I lost on the first two tries. and then a third breakout. it squeezed from $28 to 72 dollars per share. It absolutely exploded.

and if you've been the one that lost your focus, looked at and you know traded in the STR on that day, you would and then miss that big move. That's when you start to get frustrated. So in any case, we're coming up here towards the end of the week. Thursday Friday I'm gonna bring share size down a little bit more to 6,000 shares for two for tomorrow.

Just trade smaller size for me until I'm seeing more predictable momentum and I'm seeing better performance on my own side. I mean yes, I see em TSL and I see em LNT and a couple others showing strength. But until I'm starting to put in a couple of bigger green days, I'm gonna keep my share size a little bit smaller, try to just finish up this week. I'm not gonna try to make back every penny that I lost in these last three days.

I'm gonna start by rebuilding one green day at a time. So tomorrow 1:00 p.m. Eastern I'm gonna host a free workshop. We'll be talking about the fact that in every loss is a lesson and I'll talk about some of the lessons that I've learned through some of the bigger losses that I've had over the years.

Of course the biggest one ever was just March of this year and you know it takes a certain you know mental focus to be able to get knocked down so hard and be able to get right back up the next day to be able to lose 30 grand and come back the next day and just keep trading. And you know I've gone through all of that. So for those of you guys that are at the very beginning of your journey, you've had a red day, you've gotten shaken, you're having a hard time bouncing back from it. Will certainly talk about that during the workshop.

And I encourage you guys who register to consider it your first step in really pursuing your education as a trader. So that's coming up tomorrow: 1:00 p.m. Eastern I will record the workshop and we'll send out a replay for those that can't attend during that time and those of you guys who are already warrior Pro students or you're in the warrior starter class. I'm not gonna be talking about anything that we don't already cover in the classes, so you're welcome to hang out if you'd like to, but you also don't have to feel like you're need to register because you're gonna miss something because you're not gonna miss anything.

Alright, so that's it for me. I Will see you guys first thing tomorrow morning 9:15 Hopefully we have a good gap scan. Hopefully we get a couple good opportunities, but if this week just kind of, you know fades out and isn't one for for the record books. That's okay too.

We'll live to trade another day. Just try to keep my head above water and you know. And this is one of those times where I start to think you know I got a little too much I might have a little too much money in these accounts. You know having $300,000 in these two accounts combined is is a lot of buying power can allow me to be a little sloppy, but at the same time I Just had the best month of the year last month with almost $90,000 So yeah, maybe no reason to change what generally seems to be working just because of a bad couple days.

Believe it is what it is right now and be back out of first thing tomorrow. If you're still watching, you must have really enjoyed that video. So why not subscribe and get email alerts anytime? I upload new content. Remember when you subscribe, you become a member of the Warrior Trading family.