Day Trading a Biotech Companies +500% in 1 Day transcript

[Music] well first of all I barely want to do this recap after I read some of the comments you guys posted yesterday I've got a bone to pick Let's jump right into it so obviously I'm under the weather that's that's no surprise you guys all know that I come into the comments let me just filter it RFK and how many of you guys that would be funny to kick a man while he's down and say that I sound like RFK while he's teaching people how to day trade not funny all right now fortunately I'm in a good mood today and I'm going to let it slide this time because I'm currently sitting up $81,400 the opening bell what did they do dropped news of an offering are you kidding me a secondary offering right at the open so Al starts squeezing after hours right here so this is kind of interesting because the last couple of trading sessions we've had a number of stocks that began their move either in the afternoon or after hours so yesterday my big wins were on the Chinese IPOs that started on the previous day and also just as a side note so some people were like wait a second Ross I thought you said don't trade Chinese stocks uh so what I've always said is you've got to be really careful with Chinese stocks because we know that Chinese stocks are used as vehicles for Pump and dumps we've seen this as a long established history where they'll kind of you know get pumped up and then in one day they'll lose 95% of their value it's crazy when they have these days where they dump so for that reason you've got to be careful not to overstay your welcome but I'm not opposed to riding the momentum on the front side of the move and so I just sort of accept that if I'm looking at a stock and as Chinese I need to approach it with a little bit more caution and that's basically it so it it's just about knowing what you're trading that's the most important thing and you may decide that for your strategy it's not worth it to take the risk to trade something like a Chinese small cap now obviously we're trading small caps because we need volatility we don't make money buying a stock at $5 and selling it at $5 of course we make money when we could buy a stock at five and sell it at 10 or 15 as the case was for a number of these ones this week so let's see let me jump onto the Whiteboard here um so the thing that I would say is in terms of um allocating you know risk risk in trading there's a spectrum and so just like anything else you could choose to put your money in CDs right or bonds um and you're really taking very little risk it's pretty much guaranteed return the value might fluctuate if you sell before maturity but you know as long as you hold it you're fine and then you've got sort of this mid-tier you know mutual funds um and then you've got uh um mutual funds and then you've got these ETFs even like the S&P 500 so S&P 500 spy is not without volatility you know we look at the S S&P 500 which of course I'm often looking at as a gauge of overall market performance which makes sense because it's uh what 500 of some of the biggest companies in the uh Market um but it's I mean look it's just in the last you know year and a half it's gone up 50% from 400 up to 600 so this and we've had times where it dropped 30% so this is volatile now when for me I got into trading I was looking at stocks like apple um I I was looking at what was it like Exxon Mobile XOM um us steel which is actually X um you know I was looking at some of these companies and I found that although they move inaday their price action is not predictable and that I did a lot better are focusing on the high relative volume stocks the stocks that had breaking news and so every day there's companies that put out breaking news but what I found as you know is that the lower pric ones give me kind of um the bigger percentage returns uh I'm going to have a little spoonful of honey so noted that I don't sound great thank you for pointing it out I brought the honey today okay so we'll see if that helps I'm not sure if it will all right so yes Chinese stocks no doubt are a little bit riskier um but we got a couple this week that gave us some some nice moves and so then this morning when I sat down a LR a lur I was like all right we've already got something moving this is good and I was watching it for the break of 8 coming into 7: a.m. and this thing broke eight and went straight to 12 pulled back went up to 18 went up to 20 but that's not how I started my day I actually started my day with a trade on OST and you'll see that I'm red on it uh $4,500 so the reason I started with this one was coming right into the open this is the first trade I took I looked at it and to me this was moving it was moving quickly right here and I was like this thing feels strong on this candle right here it had 500,000 shares of volume so volume was cranking on this and so I jumped into it uh my first entry was 366 added at 370 added a 375 as it came up to a peak of four I said you know what I'm going I'm I'm adding on this thing so I added four and on this one for a number of reasons I took a really big position so first of all it it's easy to um underestimate how how much being sick can affect your ability to kind of make good decisions and be clear and calm cool composed uh so obviously under the weather not sleeping well and and I also felt a little fomo from yesterday because there were some big moves later in the day I wasn't feeling well I was resting and then I see dwtx or whatever made this 800% move so I was like gosh darn it of course um so so all of that contributed to me today Coming Out Swinging a little hard so I stepped up a little too heavy on this and right at 700 a.m. it dumps all the way back down to 320 and I actually lost $6,000 on that trade now um I'm using generally my uh daily I I never want to lose more than I can make it one day so I look at what I've been making over the last 30 days it's about $144,000 per day average so this year I'm using my daily average as my daily Max loss and also you know kind of mentally what I would like to hit for my daily goal uh So currently sitting on the year before today's profits was $24,000 so making some progress this is good yesterday was the best day of the year with 41,000 today I'm up 81 1,000 so now all of a sudden I'm sitting at 280 on the month wow all right so that's pretty that's pretty exciting uh so anyways being down 6,000 disappointing not the end of the day not the end of the world and so it stops out stops me out uh and I jumped in Al almost you know minutes later um Al all of a sudden starts popping up here so this was at 701 it started popping up and I took my starter on Al at um $824,900 so on that move right there I made about $220,000 on Al and flipped from Red uh 6,000 on the day to Green about 14,000 on the day uh but that didn't stop there as you can as you can tell so this pulled back uh dipped down popped up and then we got this amazing breakout right here all the way to 15 just I mean it was really awesome so we got some great price action today and it pulled back and then it gave us another move higher all the way to 18 it pulled back we had this double top right here and I did take a trade here and that uh did not work it dropped down and then it came back up and I tried it again with smaller size and I got that final trade up to 20 um coming into the open I was sitting on my hands and then 9:30 they announced the news of a secondary offering so uh that kind of ruined the momentum on that stock but Al was the biggest winner today with $47,000 in profit and I was more aggressive on it in part because I kind of was in the red and trying to recoup losses and I wasn't as focused as I normally would be probably I normally wouldn't have taken as big of a trade on that first trade uh and then would have been trading smaller initially on Al and maybe I would have made less today as a result um but in any case so then um while Al is squeezing Evac was also on the scans now by the way Al are not a Chinese stock this is a um this is a stock that is a US company uh news that came out after the closing bell yesterday it was um uh what was it optimize Mass uh muscle mass during glp1 therapy so sour 70% on weight loss therapy um so headquartered in Massachusetts and anyway so uh so biotech company all right so so this one squeezes up on that Catalyst and then um Evac also biotech company and we've traded Evac before this one also popped up right at the close but with no news just sympathy that's it pulled back popped up pre-market pulled back popped up pre-market pulled back and then ripped right here and that move just crazy I mean it's so strong from $8 to $11 a share so I got a couple fantastic trades on this one uh and really the name of the game is making sure you're trading the right stocks so for the most part I was trading the right stocks today uh with the exception of OST which you know I did end up making back a little bit on when it came back up for the second attempt here but then it double topped um but you know focusing on the leading gainers is important elab this is the other one I traded earlier today squeezed up didn't trade it here bought it as it pulled away right here really nice breakout setup from 360 all the way up to just under five so you know it was like this is just great to see really strong momentum so if you're a beginner Trader this is what I would suggest focus on your leading gainers each day focus on the top five leading gainers this is where you're going to most likely find the cleanest price action now right now elab has dipped down a little bit but at any given time which ones are the leaders now the problem is at this moment the leaders are all a bit off their highs uh actually no nvn is doing okay uh but and go EV is a little too cheap but this is what I encourage you to do focus on your leading gainers because this is where you're going to see the most opportunity now if you want to study up I'm going to put a link in the description where you could watch one of my free day trading classes it's an intro that will teach you about my strategy or you could sign up for a twoe trial now I know it's Friday so you might be thinking well why do a twoe trial today it gives you two full weeks no matter when you sign up so if you sign up on Monday you'll still have two full weeks it'll just end on a Sunday instead of on a Friday so I would encourage you to sign up because what you can do is you can spend some time over the weekend watching some of the class that we make available for people doing the twoe trial so you can come in on Monday morning already kind of warmed up and getting a sense of the way I trade the way I find stocks how I uh choose my entries and my exits so links for both the class and the twoe trial will be pinned at the top of the comments and links in the description so I encourage you guys to check those out and um I'm going to be watching these comments very closely today so you better you guys better you you fooled me once shame on uh me fool me so listen I'm not going to sit here and get fooled not again not again so I don't want to see a single comment about RFK you have my word if I see one comment uh so and also by the way tomorrow I've got an episode that I'm going to upload uh Weeble how a day trade using Weeble and this is going to be an interesting episode because you might be surprised by my opinion on it so that's going to be coming tomorrow so thank you guys for tuning in reminder as always trading is risky my results aren't typical so please manage your risk take it slow and I'll see you back here bright and early on Monday morning and stay tuned for uh the upload on Saturday