Today's MOST OBVIOUS Trade transcript

all right everyone well here we are Monday morning back in the saddle hopefully you guys had a good day today was a little rough for me I thought this was going to be a red day recap first trade of the day in the red second trade of the day deeper red third trade of the day a little further red so I went into the red now the good news today is that I did not hit my Max loss and my losses were actually progressively small as I went down which for many of you you kind of know the routine you have one loss and the next thing you know it capitulates where the second loss is twice as big the third loss is even bigger and now you're fullon spiraling digging the whole super deep that's not what happened today so what happened today for me and actually I'll pull up my whiteboard here so I can show you kind of what the equity curve looked like so what happened today was um the first trade right at 7:00 a.m. went into the red second trade about match the first one and then third trade was a small loser so I dropped myself down to uh minus $1,900 approximately which you know obviously is is a red day um at that point but not by any means the end of the world so from this point here I had to make a recovery and this is the way I approached it I knew that I had you know there was a chance I would have a red day at some point this week there still is just because you know I've had a long green streak so you know those only last so long uh my first trades were on serve SCV so let's actually start the day with that we'll look at Meera um and a couple others in a second but serve was straight off the watch list from yesterday okay so my watch list yesterday what did I say those of you guys that tuned in for it uh I said I would be watching serve for a break through um yesterday's pivot now let's see sorry my sometimes my computer runs a little bit slow and I'm running um the screen recorder and everything else so let's go back to full screen all right so yesterday uh after hours on Friday serve had a little bit of resistance up around I I guess it was like 971 um and let me just see why is this running so darn slow I'm gonna I'm going to close some stuff down here I'm going to close thinker swim I think thinker swim is slowing me down all right so we'll see if it runs better after that and I'm actually going to close this slide deck also all right so right so we're already on serve so we'll go so so yeah the F minute chart here on serve um so yesterday when I did my um game plan for the week ahead I said I'd be watching serve and that it seemed like it had some support down here around um kind of this let's see level down in here around seven but then there was also some support a little bit higher up you know maybe maybe kind of around 850 so sort of a level I would watch so what ends up happening is 4:00 a.m. boom this thing rips up to 11 pulls back goes up to 12 pulls back hits a high of 13 and then right up there at 13 came up an 880,000 share seller so pretty big seller sitting at 13 and that was a wall that sat there all morning so you know what I ended up doing on this um was coming into 7:00 a.m.

I still thought this was going to work because this was the number one leading percentage Gainer we still had the news from Friday so I thought this is going to probably work so what I did on my first trade was um right here coming into 7 a.m. it dips down and I was like okay I'm going to take a dip trade on this and let's see if we get a rip back up so First Trade Stop out it goes lower and then it goes a little bit lower and I try to do another dip trade where I got in kind of in this area and I was looking for that squeeze back up and it stops me out of second time so after that I was like all right two losses on serve you know what I'm down, 1500 bucks on this stock or whatever it was um I I I don't I don't think I want to push it so I lost about $700 $800 on each of those trades so trade one trade two and I just kind of recognize you know what high volume red candles I I was hoping for that dip and rip squeeze but you're trading against the trend this is the backside of the move macd has crossed over you you probably shouldn't have taken these trades at all so all right you dug yourself a hole you're going to have to recover from it now I ended up recovering um and actually making $33,000 on uh serve from the low back up to the high and I'll show you my p&l in a second and that was um right here as we curled back up we came back up to 1250 we broke through that seller at 13 and we squeezed up to almost $114 a share so we got a nice move right here which was great to see um we also got a trade where was it um there was another trade oh there was a small trade right here on this break of vwap but that didn't hold so serve was a little bit tricky this morning uh and unfortunately first trade of the day dug myself a hole okay so then second trade of the day so now let me show you the p&l so I'm sitting at $3,735 59 sense not bad green days are good it's not a home run Green Day um but it's not bad now what's interesting about today is I actually got above my daily goal of 5,000 and I dropped back down and like I said as per the rules that I laid out for you yesterday I hit one of the triggers where I had to walk away I gave back almost 50% of my profit I was up over $6,000 and then in one trade I lost almost three grand and dropped myself back to 3,700 and I said that's it I got to walk I I've given back nearly 50% of my profit and I cannot take another trade I have to walk away right now and you know what considering the fact that I started the day going red 1900 yes obviously it was nice when I hit that high of 6,500 or whatever it was up here but you know this is this is trading easy come easy go so finishing here at $3.7 th000 which is still a great day maintaining the streak staying green staying on track for a $100,000 month here for July so you know yeah it would have been would have been great if I'd finished at 6,000 and we'll talk about that final trade that knocked me back down but nonetheless I'm still in much better place well first of all much better place than I was when I first woke up this morning $3,700 and much better place than I was when I hit my lows down here so let's talk about the recovery all right so for those of you who have um exper ered uh the red days recently I know what it's like to be in the red even though today I'm not closing red I still had a period of time today where I was in the red and I had to dig my way out with Focus staying calm cool and collected and I I'm fortunate that I was able to do that so if we go all the way back to this morning lots of trades today um so serve those are my first couple trades and then I took a trade on mlgo and you know it's funny I traded it because I said yesterday that you know I was like in my recap I was like I don't know about mlgo yes it's up but I really don't think it's going to work that well fortunately I only lost $243 on it but where I got in it was um right here as it was breaking through this flat top and I don't you know I don't have a major problem with the setup you do have high volume red candles uh but the green volume was higher in total so generally there was decent buying volume I think it made sense to take that trade I think it had the potential to move higher and it just didn't and I stopped out and I took the loss on it so $253 or $43 whatever it is that's a small loss I can handle it but I was already in the red so that just added a little bit more loss next trade was Cyn now Cyn you can see I'm up $26 on so I finally hit my first winner of the day but it's only a $200 winner so this can be a little bit defeating because you're like I've taken a couple steps down now I finally get a winner and it's tiny all right so Cyn hits my scanner it popped up with news at 7 a.m. and I jumped in it with a th shares at 675 it ends up going up to 7 and hitting a high here of 725 pops a 710 drops down I end up taking the profit at 7 and it really wasn't a very significant trade trade I I'm glad I didn't get back into it once I kind of read the headline I was like I don't know not sure this is really going to work but initially what I saw was the stock is moving quickly it's got a low float it's a somewhat recent reverse split with room to the 200 moving average that's the right setup in a lot of ways so that's why I started to feel like maybe this was going to work but but then it didn't uh so then next trade is HEPA hea so you'll see on HEPA I'm up uh $247 you know look it's it's nothing exciting um this stock also ended up doing a round trip so very small winner on it it has news it pops up it dips down um so I took a trade right in this area here again nothing to be that excited about the trade didn't work well I just I made small profit but I could have easily lost a little bit on it and then after that my next trade was on mea M so this is the stock that went up 200 oh my gosh it's it's back up now I didn't even realize that uh so right now it's actually up 222% so uh this is the one that made the big move today um which is you know great to see that it's back at the High um let's see so anyway so so anyways uh where did I get in so my first trade on this was way back this morning at uh let's see 90 cents okay so I jumped in pretty fast right here when it started popping up and I don't usually like to trade stocks below a dollar however this was moving fast and I thought it had the potential to become the number one leading gapper so when this thing start to squeeze I was like all right we're moving we've got news pharmaceutical company I'm going to jump on so I jumped in at 90s and I bought 7,500 shares now again as per sort of share size that's a little more than 5,000 but it's also a cheaper stock so not too worried about that so but anyways it drops down and I actually lost I was in at 90 cents and I stopped out at like 82 cents so I actually lost about four five almost $600 on that so now I have two small winners here and then I dip back down to a new low of day and I'm down that's when I guess I was actually down 1900 it was kind of like right about here so because I was down 600 on that so I had $400 a profit then so this must have been - 16 17 anyways minus 19900 right here so now I'm thinking all right I'm moving in the wrong direction this is really this is not a great situation here I got to keep the leash tight if there's but at the same time it was only 8:00 a.m. it was still really early so or S it was what was this s yeah it was about 8:00 a.m. so anyways it curls back up and I got back in right here I got back in with 7500 share it breaks a dollar and I add 5,000 shares at a do5 so now I've got 12,500 shares and I am taking a little bit more risk on this but now we're holding and it's the leading gapper and this thing squeezes up to $130 so just like that I swing from Red on that stock to Green on that stock and I made about $1,000 on that trade so now boom I'm back up to here down about you know $900 something like that right so some progress I'm like great this is exactly what I needed it pulls back it does a little dip and then it comes back up here I take another trade right in this area looking for the cup and handle formation it didn't break but then I get back in up around 44 and let's see um it was where was The High um the high was 43 right so actually I got back in it must have been right about here anyways um so I ended up making my way up to uh $1900 on this stock so I got a couple more trades on it got myself into the green uh pretty nicely here you know again like 1,00 bucks one $1,900 in the green and I guess I had a couple other um I had I had another trade on serve so now we'll switch over to serve um which I was initially readed on by, 1500 and I'm now green on by 15500 so I had a $3,000 swing from red to Green so on this one um this morning I just felt like there was a really intense amount of selling through this area but I got a little squeeze right here consolidation under vwap and I took that trade at 1124 and it pops up to 1160 about 30 cents a share not bad made I like $600 $700 on that so cut my loss on the stock in half it comes back up at the open I wasn't sure it was going to work sells off comes back up comes back up again comes up to 13 we've got that 880,000 share seller and as I watched it thin out on the tape and go 80 70 60 50 40 30 20 10 Etc I jumped in right there got a 6,000 share position and it rips up to 1360 and I'm taking my profit as it goes and that put me up 1,500 bucks on serve so now I'm up 3700 on the day almost exactly this is where I sit on the day you could see I'm down $12 on cmax but then cmax comes up so this was the last stock I traded so I'm at now I'll just erase this I'll just say 3,700 on the day right here so I got myself so from red to green and this is where I sat and right there I was coming up to 10: a.m. or so and I was like all right look this is a Green Day a solid Green Day you recouped your losses can't really complain it's a $5,000 swing but then cmax pops up I trade cmax and I make about just under under $3,000 on it and for a moment it was the stock I was up the very most on so what happened with cmax was it halted up once halted up a second time opened dipped popped dipped popped Di and then it curled right here so I didn't take my I didn't even break the ice with my first trade on cmax until uh $345 which was let's see it was right around uh here taking that break as it started to pull away so First Trade I got in at 343 for the break of 350 and it hits a high as you could see here of 365 I take my profit and get out I'm up like $400 on the first trade it pulls back and when it comes back up I got back in right here and we get this squeeze up to four and I stepped up i s started sizing up I was like okay here we go got myself to up uh 4,000 on the day and then 4,500 on the day it pulls back squeezes through here I'm up 5,000 on the day 5500 6,000 on the day it pulls back it comes back up here I bought 6,000 shares for the squeeze through five looking for 550 and it dumps all the way down to 450 poured gas poured water on the fire and all of a sudden I'm just like oh my gosh I just lost 50 cents on 3,000 shares three grand gone in one trade so made my way up to 6,500 and then took that 6,000 share position and boom right back to here but of course you do have to be aware of the fact that I traded all the way up so I incurred commissions so you know my commissions as the day go on we'll do that in a different color here you know the the commissions are kind of like this it's just an increasing number so if I'd walked away right here my commissions would have been you know whatever and then by this point the commissions are that much higher so although I'm back to where I was before net I'm a little bit lower because of fees and commissions so the commissions don't go down as you keep Trading the longer you trade into the day the more the fees and commissions will add up and so I I I started to push it here because all of a sudden I started to pull away and I was seeing some progress and I was like all right here we go uh and you know I I think on another day that would have worked just fine it just so happened that cmax ran into um some resistance there and so I had to follow the rules and walk away and you know what walking away with 3700 bucks is not too hard because it's a solid Green Day I can feel good about that I'm you know I'm like I said I'm still on track for crossing $100,000 for the month of July which is you know kind of a it's a goal that I have and I know that I can do it as long as I keep my head in the game and I stay focused I'm already at um 86,000 right now so you know this puts me up over around 90,000 $10,000 to go really all I have to do is maintain an average of couple thou 1500 a day 2,000 a day and I'm going to cross that I don't need to be swinging for home runs I don't need to take a lot of risk now granted if I'm up 6,000 on the day and I've got a pretty big cushion I could afford to take a little risk and look if this thing had squeezed up to 525 550 we'd be on a $10,000 Green Day so it didn't I had to stop out it's still a $3,700 green day I'm still on track still doing the right thing and I had the chance to have a $10,000 day so and all of that was off of initially you know being read 2000 almost 2000 so I I'm pleased with the recovery today I was disappointed that serve wasn't easier to trade there was just so much selling on it it was unbelievable just constant selling I also saw meip hit the scanners uh I noted that this one um is easy to borrow at light speed so easy to borrow there um didn't end up taking any trades on it but it it is up 25% right now and let's take a look at um M A Mira so Mira uh let's see we halted up twice now in a row so this is always carries a little bit more risk we are showing a a gap up on resumption of 241 so 241 resumption the halt time was 11 and 6 uh 11:06 and 11 seconds so resumption should be in about 40 seconds um so we'll watch we'll watch resumption looks like it's actually a 10-minute long halt um so we're on a long halt here because of the bigger Gap 244 so you know you look at a chart like this and something to be aware on the one hand you've got a lot of room for a move higher like this could get exciting of course on the other hand depending on where you sit on the day you may not be able to afford the risk of look any trade you take you have the risk of it going the wrong way so I do something like this by 5,000 shares and let's say it opens and instantly halts down and then it gaps low I could lose you know 2500 bucks and then just like that I'm back to flat on the day and and you think I should have walked away I should have walked away rather than thinking in hindsight I should have walked away I should have walked away I walk away you know when it's right and I try to at least so right there if this false halts if this false halted that would be the only scenario so that's 100,000 shares on the ask right there is is a quick false halt so you see how I bought right there quick little false halt actually shouldn't have taken that trade at all but I'll just sell um sell this up here I only bought 250 shares really demonstration purpose only the the only problem with this um trade is that um the position size was uh was a little small I guess and what's worse is that uh so 250 shares doesn't matter but what's worse is that I got some slippage so that slippage is actually notable because so now we're coming back to 35 and and halted we're going to Halt down it looks like so whatever so I'll lose a little bit on 250 shares doesn't matter the the point here is number one the the only spot to consider is when you have a false halt now if I had actually gotten filled where I should have gotten filled on that which is as soon as it thinned out at 35 I could have taken profit at 50 and that's 15 cents of profit instead even though I have a high-speed uh broker I got slippage so I press the buy button and for whatever reason I filled just just after that pop I thought I was going to fill as the pop was happening but I filled just after it so that's just bad luck but that's also one of the reasons I keep my hotkey with small share size that way I don't do that with 10,000 shares because then all of a sudden you've got a lot of a lot of risk so the the way that I'm a to sort of control my orders um typically is I'll actually enter the order right here so I'll enter the order and I'll put it like you know 40 and then I'm clicking the buy button and I'm not going to fill really high because I'm managing my Risk by keeping my um keeping my limit right here when you press the hotkey shift one unfortunately when you press the hotkey you're not able your hot key is 10 cents above the ask so when the current market you know opens it's 10 cents above that price so that's when you know you could all of a sudden fill at 50 or 60 because that's the way the hot Keys work now the fact that showing a 250 resumption right here would be gapping up after a halt down that's um that's would be very bullish but in any case I'll just unwind this position and if I make or lose 20 30 bucks whatever doesn't doesn't matter so actually um sorry I guess I have um I've got 125 shares that I'm holding so holding 125 shares of this um so yeah so that's where I sit on it it looks like I get I did sell half um at 58 I sold half at 258 I didn't it's kind of like H only half focused on that so anyways so that's what I'm sitting with right there um and interesting price action on mirror I hope it goes higher but you know for me I don't have the risk tolerance to take like real positions on it 5,000 10,000 shares because the risk is just too high but the false halt you know if I had been still kind of in the space of like active trading and I had my orders all queued up that could have been a spot for a nice little scalp it just shows you know when when you're really able to focus you're going to do a lot better than when you're you know doing something like a recap and also kind of half trading it's not a great spot for uh getting the most out of your skill okay so so anyway so that's mirror um and then cmax again I mean it's just kind of interesting this one it makes this huge move from a150 all the way up to five this was a huge percentage gain uh let's see we were at one point let me just grab that uh 225% on the day 230% so really big move and it's kind of a bummer that I I just screwed up my trade on that and and now I'm red on the stock because I had some nice profit and I I just screwed it up miror now showing a 275 resumption so you know you may have some uh shorts that are going to get squeezed out on this um I guess we'll see what happens but good luck for those you guys that traded it as always I think the front side and the beginning of the move is usually the cleanest as we start to go higher it's often on lighter volume so liquidity is not as good it would be harder to take big big size if you even if you wanted to because there's just not the volume but good job for those of you guys that managed your risk made your way to a green day and I'll be back at it first thing tomorrow as always so hope you guys are subscribed to the channel hope you hit that thumbs up and if you want to do a twoe trial Warrior trading there'll be a link posted to the comments and Link in the description so you can check that out thanks as always for tuning in and I'll see you guys back at it tomorrow morning