High Accuracy Trading is the #1 Focus transcript

what's up everyone all right well here we are it's Wednesday morning we're halfway through the week and locking up another small green day coming up just shy of the daily goal which you know at this point is good I mean this has kind of been my goal for the week just to have consistent green days not to do anything crazy and look yesterday I was double the daily goal that was awesome today just shy of the daily goal Monday was like 2/3 of the way to the Daily goal so anyways 3 days green here which is great so sitting at probably around 18,000 on the week this is good after basically being flat last week with green days on Monday Tuesday Wednesday but then Max loss on Thursday and then slightly red Friday I'm glad to be kind of you know getting back in the groove and one thing that I'll tell you is that the confidence change from Friday to today is like night and day you know a couple of small base hit green days goes such a long way in restoring that self-confidence cuz once you lose your confidence you know then you start to hesitate you're kind of like oh I don't know if I should take then it goes anyways you're like oh my gosh and then you overcompensate by getting in too high and it kind of becomes this like negative self fufilling prophecy where you don't do well and then it's like people who are super confident are just like printing money and you're like how are they doing it and a big part of it is the the head space right that mental space of I'm confident I know what I'm doing and I don't hesitate I take the trades I don't chase it I'm not emotionally impulsive I'm just following the process all right so let's pull up um the charts from today you know this was kind of an interesting morning because um when I first looked at scans before ooco popped up our leading gapper was msgm and it was only up like 35% this morning so I was like oh boy we don't have any decent gappers today this is going to be this is going to be a slow day um so fortunately ooco ended up uh popping up and that that was the first stock I traded broke the ice on it and got myself in the green and the news on this came out uh right at 7 a.m. so announces $100 million Revenue forast releases 2025 strategic plan all right so that's a nice headline and boom the stock start squeezing up so how do I find it number one it's hitting my high day momentum scanner the stock is popping up it's triggering the audio alert so I can hear the ding ding ding I see that something's moving up I pull up the stock and I immediately recognize Oo we traded this one yesterday or we watched it yesterday but it was easy to borrow yesterday and it was choppy it sort of popped up and then dropped back down right here and then kind of popped up and dropped up dropped down again so I was a little bit like I don't know about this I don't think it's going to work and that was the reason that I hesitated on it initially but that was a good reason to hesitate because that was based not on sort of like a emotional issue but based on how it had traded in the previous session so it ends up um going from 260 up to 3 up to 330 up to 350 up to 380 micro pullback should have bought right there goes up to right here micro pullback and that's where I got in so I got in right here just about four stop about 380 so using about a 20 cent stop took 5 ,000 shares of this first trade 5,000 is Max size was risking about $1,000 it squeezes through four goes up to 415 42430 boom about you know not quite 30 cents a share in total that would be $1,500 but locked up about ,000 on that first trade then it dips down added back off of four it pops up here to 440 when it held $4 psychological support that's where I got back in So First Trade I'm in at 396 then um back in at uh 402 403 out at 437 which was great added back at 444 selling at 441 for a small loss then it dips down added at 420 sold at 425 small profit added at 405 sold at 412 again a small profit and at that point I was up about $2,000 gave back a little bit off the top sort of overtrading some of these dips um which were I guess um this was between yeah it was it was right in this area up to about 715 um so I took my last trade on it at 714 so let's just zoom in on that uh right that was right down here this dip and the macd had crossed over there I still took the dip trade and you know anyways it actually was a winner but um I did overstay my welcome a little bit on this one but not too badly so first trade was with 5,000 shares and then once I was up over uh $1,000 on the day took my cap off traded 7,500 shares on the next trades and you know was a little bit more aggressive making my way up to $2,000 of profit okay so that was ooco now at the open it ended up squeezing and getting back above vwap right here pre-market I was interested in that but it was a little unsure it ends up pushing a little bit higher up to about 4 40 and then kind of stalling out it just didn't quite have the momentum and then all of a sudden it rips it does this red to Green move right here and it rips up almost halts up and then drops back down so that was a little tricky because if you remember yesterday on bzi let's see um bzi yesterday did something sort of similar we had this uh kind of opening range where it sort of popped up it's sold off a little bit and then it rips up uh right here we got this nice move right in there sorry my drawing tools was slow got that move there and then we got another one right here so you know I think people were kind of thinking and hoping we might see something similar on ooco but we're not really it's not really working so anyways got some small gains on it from pre-market and and that was about it um let's see so that was ooc and then the next stock I traded uh so anyways green $ 4,540 29 cents on the day not bad uh green on three out of three stocks accuracy today not 100% but it was pretty good uh if we actually look at my metrics here I'm curious to see what my accuracy was yesterday um accuracy yesterday was 80% that's nice and accuracy on Monday was 85% nice so those are some those are that's pretty solid and I thought it was probably higher because I've been trying to you know these last couple days really make an effort and I think today was probably around the same 80 85% I had a couple losses but they were pretty small uh so my profit loss ratio is also pretty good for these last two days um if we just I would guess so let's just look at um let's see these last two days profit loss ratio all right so that didn't put it in okay apply all right so average loser $98 average winner $430 accuracy 85% fantastic that's awesome I mean that's great now if I could keep that going for a whole month I would be in really good shape if I could keep that going with twice my share size I would make twice as much money so you know that's the other thing increasing share size increasing quantity of Trades and maintaining these metric now this is only 2 days we look at the whole month of September month to date and uh it's not so pretty you know I mean I I can't complain too much but the accuracy is 60% my average winners are 390 and my average losers are 385 so that's that's the problem the accuracy and the profit loss ratio aren't as good we look back at the month of August last month and accuracy was 70% profit loss ratio was 2 to1 that was a good month what happened in September got a little overconfident started taking lower quality setups took some losses started to get a little desperate started to sort of spiral and you know like I said that's kind of the opportunity cost when when I have a big red day you know I had that red day on um Thursday and then all of a sudden even though yesterday we had some great action on bnci at the open I didn't trade it cuz I was like I can't afford to take the risk so you know that one loss kind of cost me also this whole opportunity CU I said no I I really shouldn't trade this area I just can't risk it it's costing me right now by not trading SBC well maybe there's not much a trade here but I'm also not taking any more trades on TN even though that's gone higher you know so I'm being a little bit more conservative a little more defensive and that is going to you know have some real costs okay so anyway so TN um this one popped up at it's like 4 5 a.m. sold off and then popped up again here when it broke vwap right there I jumped in I jumped in at 475 485 average about 480 it ends up squeezing through five and goes all the way up to a high of 540 my kind of Target was a double top right here and we pretty pretty much got it so took my profit on that that was it basically very simple trade just jumping in on that extension and looking for the squeeze jumping in at the break of vwap pretty much right at the break of vwap and looking for that push up to uh the Double top then when we pulled back and all the way back down I was like yep no surprise there ends up rallying back up at the open but I just thought now it's you know this resistance area here I don't think it's worth it well it did end up going a little bit higher I guess could have would have should have but I think you know I really can't um can't be too critical about maintaining the accuracy I've had for the last three days and been focusing on uh getting in early not overstaying my welcome and trading a little bit less in total but the profits are more than they were you know during the same period last week in a really hot Market excuse me you can get away with overtrading because the Market's just so hot it feels like everything works but when it starts to cool down that's when you get punished for overtrading and that's when you got to rein it back in so you know you got to push your limits you got to trade at the edge of comfort zone you got to test you know how how much can I trade how frequently can I trade all day long uh but then let your metrics tell you where you've got to kind of um rein it back in and that's really you know just to reiterate um the change here for you know from this I guess this week you know really came out of the fact that I was looking at my metrics and I was like well you know obviously lower price stocks not paying higher price stocks not paying and time of day well Mondays have been tough so be a little cautious on Mondays and you know look you're making mistakes later in the day this is costing you a lot of money stop doing that so hard stop 11:00 a.m. and just you know let that be it so I'd be in a much better place if I could get back those losses but while I can't get those back I can make an affirmative decision right now to call it here and prevent having further future losses during that window because it's just not worth it um and someone was asking me just by the way about um my expectations for the rest of the year and kind of you know the month of September if this is typically a tough year and so we were looking at my profitability um based on the year we go back to 2016 here and you can look at my Performance Based on the month my worst month in 2016 was February my second worst month was May and then October was slow but really had a great summer June July August best months of the year that was 2016 2017 this is different summer was dead my worst month was April and September and my best month was Q4 October November December 2018 started so now this is interesting right so I look at how strong Q4 was in 2017 October November December super strong and then what happens in January it continues I have a recordbreaker month in January and then it slows down in February and have a red month first red month in a while but then kind of get myself you know organized get settled you know put myself in a trade or rehab recover those losses have a couple good months and then slow in August and September before kind of rallying back up a little bit October November but I Remember December of this year of that year um the market was a bit choppy the overall market and then we had 2019 pretty decent uh January February red in March red in October slow in November good in December best month was May that's an odd month to be the best month then in 2020 we had the pandemic January and February and March were slow and then you know all of a sudden things went crazy June best month of my career 1.3 million July good August good September good October good November slow and then December back to good so it's like kind of crazy 2021 worst month was in April nothing really notable there 2022 worst month was November which is a bit unusual but you know just the way it was that was in but remember that was uh the bare Market that was when all of a sudden interest rates you know were going up and the market was dropping 20123 last year um best month was in September and October which is kind of unusual not what I expected and then November December was a little bit slower and then even though December was slow here we came into uh January and things really picked up in February this is now 2024 March was slow worst month of the year so far and then April May June July August September back to kind of on par and now we've got to sort of wonder what's coming for the rest of the year could it be slow slow slow could be could it be hotter hotter hotter could be you know we just don't know so I try not to read too much into oh this this month is going to be like this because this is what it's been in the past because what I've kind of found is that it's just based on the Cycles when we have hot cycles and cold cyes cycles and when the Market's hot it gets really hot and we get great opportunities and then when it's cold it's just it's slow and those are not they're not it's not seasonal it's cyclical so we have these cycles and right now we're in uh we know well September's been colder compared to July and August but it's not by any means as cold as it was back in March so you know that's all right things are um things are going to pick back up and I'm looking forward to when they do and my goal is to try to keep my account kind of hovering right at all-time highs so that when things do pick up I can right away put the pel to the metal size up and get aggressive and I'm not having to kind of you know spend time playing catchup it's just my counts at the highs and boom here we go so that means I've got to keep the draw Downs really minimal if I have red days I've got to make sure I correct quickly and get myself right back on track and so I've been doing you know although I had two red days so far this month or I guess three including Friday um I've been self-correcting pretty quickly so that's the good news all right so that's it for me um here sitting uh just under the daily goal $454 29 and I'm going to shut it down and I will not take any more trades today I am done I am walking away I am not going to look at the keyboard I'm not going to look at the monitors for the rest of the day that's it I'm done I'll be back at it first thing tomorrow morning I remind you guys as always uh my results are not typical so manage your risk take it slow and I'll see you guys live streaming tomorrow morning