Shares of Reborn Coffee ($REBN) went up over 100% in 60 Minutes! transcript

all right everyone well today is Wednesday morning and I'm locking up finally a Green Day my first green day of the week today was so much different from Monday and Tuesday almost night and day so today I actually hit my daily goal I broke it by about $300 and then I gave back about $800 off the top my daily goal is $5,000 I'm finishing the day at $452 60 4 cents you can see the p&l right there and the stock that we're going to talk about uh first and foremost is rebn up 102% on news reborn coffee that was my biggest winner as you could see right here at 2700 but it was not the only stock I traded I actually traded one two three four five stocks and unlike Monday where I was red on four out of four today I'm green on four out of five so what was so different between Monday and today on Monday we didn't have any strong stocks with breaking news pre-market pre-market was more or less dead if you recall the one stock I trade pre-market was Benn which was continuation from Friday and the only reason I traded was because there was literally nothing else that looked good and I got green on it but then I went back in for the next trade and I went to down $2,000 and to be honest I probably shouldn't have been even trading a continuation setup because the problem is they're not obvious so each day when I sit down what am I looking for I'm looking for a stock that is going to be the most obvious stock in the entire Market that everyone is going to be looking at and you can't possibly miss it this is going to be the stock that you know Robin Hood and all these other Brokers are emailing out saying hey we've got a stock up uh X 100% today 114% rebn and they want people to look at it they want people to trade it they get paid for order flow the more you trade the more money they make so these are the types of stocks that people are going to be focusing on and that people are going to be actively trading obvious leading percentage Gainer with enough volume to get in and out easily this met all those criteria today rebn but on Monday we didn't actually have anything that met those criteria and the right thing to do on those days is to stay disciplin and not trade anything until something becomes obvious but that's not what I did I ended up trading the you know continuation setup going into the red and then I just started sort of chasing different stocks were popping up at the open and although there were a couple that made nice moves they it just ended up that none of them were super clean and the one that was the cleanest of all of them I didn't trade well because at that point I had drawn too far into the red and I was sort of off my game mentally and I was just buying with too much size and then getting kind of like nervous and jumping out and then getting back in Jump jumping out and it just wasn't calm cool and collected so I ended up being red on on Monday and then we come in on Tuesday and it's the same thing there's no good gappers so yesterday morning Tuesday we didn't have any stocks that were really strong the Gap scanner was was pretty awful but at about 9:45 we had gsun that started to squeeze up now I don't usually like breaking the ice with my first trade at 9:45 10 a.m. because usually I consider that to be kind of when my window of uh opportunity is ending nonetheless I did trade it and I had like four trades on it and was kind of skittish on them I had one good entry and got out with a small profit cuz I was nervous and then I got back in and then I got back out again small profit and then I got back in too high and stopped out with not even a big loss but it gave back the two small profits I had made and I went red on the day and the second I flipped from Green on the day to red on the day I said that's it I'm done I'm walking away I'm not overstaying my welcome and that was the right decision now rebn while we're um you know while we're on the subject uh this one this morning had breaking news at 8:30 and that was the beginning of me breaking the ice and getting a nice cushion on it and I traded it pretty much as soon as the news came out now let's see what this does here so the reason I was hesitant to consider even consider taking this trade right there see that jack knife this is what's really really difficult in this market we're getting these moves but then once it gets crowded it just it's like pop and then flush back down now if it holds this level which is the low of about 375 then you've got something to work with so now your stop would be the low of that pullback but we we've had a couple Jack knives on it already there was one right here and there was a kind of nasty rejection up in this area and right here so it's just it's getting to a point where I feel like my risk on any one of these trades is outweighing the profit potential I mean let's just be real that had like a 70 Cent range in about 10 seconds it's just hard to manage risk on that even with small size now I hope it goes higher the daily chart looks fine it's open no real nearby resistance because we're just breaking over the 200 moving average so that kind of negates the little areas that we have back here so anyway so rebn has news closes Master license agreement um for China okay I don't know I mean I'm not sure how exciting that news is but nonetheless that was the headline and uh right at 8:30 it pops up on my scanners I see it popping up and I actually got in this at um about a $1.90 $1.90 was my first entry now I didn't buy big size but I was in about $1.90 pretty much right away as soon as it was hitting the scanner so it squeezed up to 230 240 I took my profit it pulls back and then from that point forward I'm just getting back in getting back out but I am trading with relatively small size because the market has been cold these last two days and I didn't want to overstay my welcome make a big mistake so I was like I'm just going to go you know slow and steady so uh so anyways um so it ends up pushing higher here up to 290 and then it breaks $3 and look at this topping tail candle it punches to 330 and then flushes back down so again those are tough candles little rejection here we go a little bit for further forward um and in this area you know now it's kind of like grinding it's very thickly traded there's big stacks of buyers big stacks of Sellers and we had a couple of these big red candles through here so you see like this candle this candle this one this one this one this is what should give you pause because you're seeing some topping tailes and you're seeing some of these candles where it's just dumping so because of that I I just felt like I knew I I it it wouldn't make sense to keep trading it um it would just be too risky so while I'm happy for those of you that did continue to trade through this area and made some money it's all about risk tolerance and for me right now there's a bit of capital preservation I've got 4,5 $500 of real money in my pocket which after two consecutive red days is pretty good I I did cross over 5,000 this morning before I had this loss on ivp the only stock I'm read on today so what went wrong with ivp it had uh the news of the reverse split that came out this morning um and it pops from 360 up to 450 up to 475 and hits a high of 493 and as it was squeezing up right here I was like okay here we go we got something moving quickly right price range low float this is this all looks good so I got in at 450 and added at 485 or something like that hit a high of 490 and then flushes all the way down to four down here and so when it flushed down there I got stopped out and lost, 1500 bucks thankfully it was with small size it wasn't with like 10,000 shares but you know that was my that was my biggest loss now my first trade on the day was sln this is how I broke the ice today and I got myself up $1,400 on sln breaking news at um 8: a.m. top of the hour and this one again hesitant started with small size but the thing goes all the way up to 380 so if we look at this on the one minute chart this is um the beginning of the move so we have our first pop right here we pull back nice dip and then this squeeze up here all the way to this high so just really clean price action the only thing that's a bummer is that we only got one pullback we didn't get a second pullback and a move higher I did a dip down here off of vwap hoping it would but it ended up just going sideways got out of that flat so very first trade of the day if I go back here um let's see sln bought at $3.14 that was my first entry so that was right here during this candle as it was squeezing up with a stop at three I took some Pro and I only bought 500 shares I took profit at 340 and um 350 before um it it kind of stalled out then it pulls back and I got back in at 345 which was right here for the Breakthrough 350 and we got a nice extension there up to 380 where I took my profit so $1,400 on that and I was like all right breaking the ice nice work TC this one um what was the news on this one this was at 9:00 a.m. so rbn was the one that was at 8:30 so we had news now at 8:30 on rebn and as I said on this one um now I already had a cushion on the day so I jumped in it pretty quickly we got this squeeze here little pullback continues higher and then we got this topping tail and after that I kind of left it alone had a couple small trades on it but nothing big because that sort of just to me didn't seem great um then we had TC news at 9:00 a.m. top of the power and on this one I made $1,400 now here in this case I I was sort of in the mindset of all right we just had news on two other stocks top and bottom of the hour that worked pretty nicely so when this started to pop up and pull away at first I was like I don't know if it's going to work but once it started to build some strength and volume increased I was like okay I'm going to jump in it so jumped in we got this squeeze up to 18012 all the way up to 240 250 260 again small size I'm only up $1500 on it but um nonetheless it's a green trade now this one ended up pulling back didn't hold its levels so came back down a little bit of a bummer that it wasn't able to hold up but that's okay so it was right after that that I took the trade on ivp because I was like okay things are moving quick and here's another stock popping up and this one's sort of a better price range and that's why I thought it was going to work well but ended up you know not being the case so you know at the end of the day I'm walking away with uh $2,500 sorry 2500 as what am I saying 4500 there we go that's even better, 1500 2500 4500 so500 on tibc U $4,500 on the day that's a great day I really I I can't complain now big picture is this would be a really nice day if it wasn't in the shadow of having lost 9,000 on Monday and then another 1,600 on Tuesday so I'm down 10,600 on the week 10,500 roughly and this you know is going to get me back 40 40 something percent of that okay that's good but I shouldn't look at it that way because I mean the fact is 3 days like this I'll make back all of it 10 days like this I'm up $45,000 so what I need to continue to do is focus on the process focus on taking a quality setups like we had today and on days like yesterday I walked away at the right time days like Monday I need to be more careful Monday was it was a mistake I mean I I I broke my rules I over traded I fell into the spiral fell into the Trap and I was actually thinking about this I was doing you know I I do my meditation um which I did for the whole month of April and I I really think helped me in April and you know I had a great month of April now it's a bummer that the first week of of May I end up having a setback but I'm still keeping up with my meditation and I'm still focusing on discipline and I kind of thought about how sometimes when you're meditating your mind will start to wander and then you bring it back and it's just like so human and natural for that to happen and I kind of thought about you know when you bring it back you just bring it back and then you stay with it and then it'll wander off again before you even real and then you bring it back and I sort of thought about that loss on Monday being sort of similar I was so solid for that nice stretch nice stretch and then I kind of wandered on Monday you know got off track but just calmly bringing it back and I'm not I'm not wanting to carry too much disappointment or frustration or have all of my work today you know be just defined by what happened on Monday you know what I mean like just let it be there in the past and now today is its own day Standalone did I do a good job today you know and if I wand a little bit just bring it back so that quick recovery I'm I'm glad that I didn't go on a multi-day spiral because if we look back at the month of March in March that's that's what ended up happening so March I went on a multi-day spiral let's see uh I'm going to pull up my metrics for you here and again not to rehash but just to put it out there so in March um you know this day was a SP day right so you know red to green back to red and then traded through the afternoon and just dug the hole deeper and deeper and deeper right so this area here is like desperation trading I'm right in here I'm trying to get back to green and then I go deeper red and now I'm overtrading trying trying trying trying taking more risk and then boom and then that's where I could pit youate and I was like all right enough's enough right I'm I'm done now while we're here um I'm going to look at something else and while we do that I'll import my trades from um from Monday and Tuesday so we can kind of compare so so that was Monday March 11th and then I came right in on Tuesday and look what I did boom just like fomo big big share size being super aggressive swinging for the fences it was a hail Mar pass I was going I was going big and you know that was definitely a mistake so I ended up um being basically on a two-day spiral and then kind of came back out of that and tried to stay focused on um you know when Wednesday Thursday and Friday and then you know got myself in a pretty good spot and then again had two kind of back-to-back red days so this whole period I was having a hard time really getting uh reentered I was still dealing with just being a little bit um just a little bit like off my focus so let's see um so I go Ira add and then I'll just drag this here okay there we go all right so so we'll let this import for a second so it'll Refresh on its own all right so we'll go over to the reports tab right so this is what my 60 day looks like um you know so that was Monday that was Tuesday so let's get dialed in on look actually looking at Monday in detail um so see what happened here green fine day and then flipped to red and that's where I sh you know in hindsight should have walked away right there got another trade was down 4,000 and it actually doesn't show but it was two trades that put me to down six and again should have walked away sat for a little while and then went a little deeper and then went a little deeper and finally just gave up now the only thing say that's better about this draw down is that these two steps down could have easily gone like this in the past usually that's what happens because I'm really struggling I'm really pushing and then you know I go red yesterday um you know not as bad I mean a bummer right would have been nice to just continue making progress but this was the 100% right place to walk away and today is going to look um more or less uh I I'm not going to be able to import it until tomorrow but today more or less will just look like you know I was up first 500 then 1,000 then 1500 and then 2500 3500 4500 5,300 back to 3,800 and then back up to 40500 so you know gave back 30% on this drop on ivp but you know the market was hot sort of all indicators this morning morning were to push a little harder and that's why I'm up this much even in net so still a good day and in terms of daily green average you know having a day where I'm going to be up about 4500 here today that's good that's a good that's a good bounceback you know now it's just like a couple more days like that maybe one day like that and you know next thing you know I'm I'm back Equity curves you know back up here Etc so that's kind of where I'm at right now um I just got to keep my head down stay focused and um did a pretty good job of that today did a good job of that yesterday so now I've got two days of um my my I now have a new streak that's two days long of discipline and my last streak was 27 days the streak before that was only seven days uh so to look at that in calendar view I only had 7 days here 1 2 3 4 5 6 7 before a spiral and then I put in um from March there all the way through um till right here that's not about consecutive green days it's okay to have losses because look at these losses they're tiny these are fine red days there's nothing wrong with that totally okay right it was it it was just the the days where I break my rules 5,000 is my Max loss so if I go below that um you you know and I and and then I keep trading that's when we've got a problem and that's what happened on Monday so anyways I had a nice stretch there of about 27 days um in that time looks like oh no sorry yeah actually I guess that was um yeah so 27 days so let's see [Music] um right so it was from I guess this low here I was at 150 ,000 got myself up to about 200,000 so was up 50,000 in 27 days so averaging a little over 2,000 a day uh and then gave back about 25% of it it's a little more than I'd like if I'm going to be honest but you know I can I can live with it we can actually look at the calendar here so March I think that's right so March 11th what was the was it this day yeah okay so right so yeah 35 well right because I got to take that out um so if we went just to here during the streak I was at 46,000 in profit $1,700 daily goal daily average and average profit loss ratio 1:1 accuracy kind of low at 64% um that's lower than than average um but but you know it was it was definitely a colder market right it just was bad timing that I um had that loss and then we went into the month of April which is the worst month the S&P has had in you know six months so you know that's unfortunate so I just ended up taking a loss going right into a colder market and then the progress was slower so anyways that's you know and that's something I'm dealing with a little bit here today as well just the fact that I you know took a big loss on Monday and then Tuesday the market was slow and today it's better but you know it's not incredible so just got to be patient follow the rules stay disciplined and that's that's the name of the game so anyways I hope you find this helpful if you do I hope you hit that thumbs up I hope you subscribe the channel and I will be back at it first thing tomorrow morning live streaming for our Warrior members and I'll upload my recap tomorrow hopefully we have another day tomorrow where we've got some on the Gap scanners because that gets us off to a good start then I'm able to build the cushion and some of these days we'll end up having something in the open that continues even higher today rebn was just a little choppy so reminder as always trading is risky my results are not typical so if you're a beginner Trader manage your wrisk take it slow there's no guarantee you'll find success where you trade your own you learn from me so take it slow use a simulator and I'll see you guys back here first thing tomorrow morning