2 Hours of Day Trading transcript

what's up everyone all right well here we are Thursday morning and locking up a green day this is nice because you know last week was pretty choppy and in fact a week ago last Thursday I had a nice Green Day I was up $5,000 and then what did I do I came back for power hour and I gave it all back I spiraled in a matter of like five trades I went from up 5 grand to down 7500 so as I sit here right now we're going to look at the p&l I'm up $ 7,577 S Trading three stocks green on all three although one of them is just a tiny winner of $25 but that's okay now that happened to be my first trade of the day uh one thing that I'll say is that this week the profits are certainly very different than they were last week did the strategy change not really what changed was my decision over the weekend after the the losses on Thursday and Friday to put on some guard rails and go back to the basics essentially to re myself in because I felt like I was just taking too much risk on the edges of my comfort zone trading setups and at times of days that are a little bit more dicey and so by reigning it into the setups and the time of day that I usually trade the best the profits have followed and so I'm really pleased with that um all right so these are the three stocks I've traded ktta spai and tbio now we'll start with tbio even though it's the smallest winner we'll start with that one because this one had news after hours and that after hours news is what sent it squeezing up over 100% so this was actually up over 100% after hours and really a pretty awesome move and this is the thing that I have to say is this is what was tempting me to be trading after hours last week you know we were seeing some of these moves and I was like man I'm I keep missing them I want to jump in so what was happening was I was getting fomo the fear of missing out and that was leading me to trade during a time of day that's typically a little bit riskier but you know look if I had traded this yesterday would I have made money I'd like to I'd like to say certainly but there were some days last week um even on Thursday where I traded stocks that were moving up after hours and I managed to buy um into extensions like up here looking for a breakout get stopped out then kind of get back in then get stopped out again then get back in and get stopped out a third time which is really sloppy trading but you know that that did happen a few times last week so even though it looks like it would have been impossible to lose money on this I I don't want to say anything's impossible when especially if you're trading and you're a little bit emotionally compromised which um can happen so anyways this pops up after hours from 240 up to 420 pulls back dips down rips here up to five up to 580 so I know some of you guys were commenting on on how you traded after hours and got some nice wins so congratulations on that that's always fantastic and great to see but as I said nothing for me I yesterday walked away with discipline and said I'm not overstaying my welcome I know when to leave and and that was that but anyways so this ends up going into 8:00 p.m. you know kind of sideways down here and then uh 4:00 a.m. pre-market what happens it pops up so you get a 4:00 a.m. pop right here pretty much just opens and squeezes right up to 580 the problem was this was sort of approaching the double top really resistance right 579 right here 580 over here so we kind of come right into this level and it's like yeah all right double top so when I pulled up scans this morning uh even though I saw people commenting on my YouTube uh on the YouTube channel last night hey did you trade TBI did you trade tbio I didn't look at it I was like you know what I don't even want to look at it because if I look at it and I see that it made a huge move I'm going to get really annoyed and I'm going to be like gosh darn it you know I missed it and so I was like don't even look so I didn't but this morning at around quar to 7 I came over to my office here and um and I was like all right tbio what are we working with and IID identified pretty quickly the double top um that it was now trading below vwap and I was watching it right in here and I honestly didn't think it was going to do much I didn't take that break of five even though it went to 540 I did buy this dip here and only made $25 on it so I got in and then basically got right back out and that was my first trade of the day um the thing with TBI is that it definitely has a lower float um but you know it does have the 200 EMA of resistance up here at around 725 um you know a little bit of resistance there maybe around six I mean it's not a bad chart it really isn't but uh it just didn't quite have the strength this morning to continue that momentum now one thing that was interesting about tbio is that if we actually look at the recent filings you'll see let's see we'll go back a couple days uh notification of removal from the listing of registration so they're actually delisting the stock it's getting removed from NASDAQ and they're going to go to the OTC market so you know uh they weren't in compliance because of minimum price and then they just decided to move to OTC even though currently they are in compliance based on price but nonetheless uh they're moving to the OTC market as of um September 30th so they really only have a few more days of trading on NASDAQ but then they put out this news headline um you know as you can see right here and it obviously pops up hey girl that's enough so anyway so that's TBI um so got the one trade on it and then that was it so that pulls back and that was at right 7: a.m. top of the hour so then I took my next trade at about 7:15 on ktta now ktta this was really interesting the stock is currently up 89% which is a great move but what's interesting about this is that when it first popped up look at this it pops up here from 460 all the way up to 680 and then comes all the way back down round trip so I was like this one's no good and then it curls back up right here and as it starts to curl back up I'm like all right this is interesting so I actually got in right here at 7 uh sorry at 550 I got in at 550 for the break of the half dollar and the break of what volume weighted average price and pretty much immediately it goes up to 560 575 580 and grinds up towards six now this stock is easy to borrow you could see it on the level two window with the E it's easy to borrow which means anyone can short it you don't have to reserve shares it's free in fact there so many shares available to borrow it's easy to borrow and free to borrow uh so that made me a little nervous because I thought well there's going to be a lot of people probably shorting it because it's free uh you won't pay any borrowing fees so anyways I got a couple trades on it here made about uh $2,800 not bad breaking the ice getting green pulls back pushes higher another trade right there on that dip for the move up to here so now I'm up 3500 3,800 pulls back and then right here this nice break through 7 644 right there that got me up to where I'm at now on it which is about 5700 it ends up grinding a little bit higher and I traded it up in these areas just with smaller size because I felt like the risk was getting high but honestly the dips kept getting bought up on this and so I was watching for dips and buying little flushes small breakout buying the next little flush small breakout buying the next little flush small breakout so I just kept actively trading it but then at the open look what we got jack knife jack knife jack knife right here right here right here high volume red candles so the fun on this pretty much ended uh I mean well I guess it was sort of like right here but anyway so I traded it the best I could locked up some pretty pretty good profit on it didn't take big size until first I was up over $1,000 with 5,000 share positions then from that point forward I started taking 7500 10,000 12,000 share positions I had a couple that were a little heavier uh and then of course I had dips that were a little bit lighter but I got some nice trades on ktta so that ended up being uh today's uh biggest winner I see it kind of curling up here it might give more opportunities but I'm just sort of in this mindset right now that I got to pay myself and not overstay my welcome and actually for what it's worth I gave back 500 at the open so I was up 8,000 and at the open I took a trade somewhere around 750 and I gave back 500 so it's no big deal but you know it is what it is uh so anyway so now these are my last few days um Monday Tuesday Wednesday and now plus today that makes this a pretty decent week so we'll pull up the calendar here for September we're coming to the end of the month so not a lot of time left uh so this is going to put me up about 27,000 on the week it's 26,000 so that's that's a great week in fact it's the best week of the month and I don't even have to trade tomorrow I could take the day off and it would be the best week of the month now I will show up tomorrow and my hope tomorrow is that we get a couple breaking news opportunities like what we got on ktta um and that'll give me some some trades but being the end of the week uh companies are more inclined to put out good news early in the week so we may not see as much now spai is really interesting this one I got a trade on as well you can see I'm up 1700 on it um initially same as ktta it pops up sells off curls back up and I almost got in as it was curling here but I was like I don't know I don't know I'm not sure the spreads were a little big it hits 340 then it drops to 312 goes back to 340 drops to about three comes back up here and right here on this candle this green candle it starts to pull away and as it broke 340 I was like all right here we go game time so I jumped in it at 350 and I added at 368 and what was it uh um I added a little higher on this it was like 3 350 359 368 and 397 and in this candle all of a sudden it pops up to a high of 418 so we got a 50 Cent squeeze right there on that little Flatt top breakout which was really nice so now it's hitting the scanners it's squeezing up and I I'm adding into the move and I'm thinking is this going to push higher and then it kind of stalls out and when it starts to drop I was like I better get out so I got out locked up $1,700 of profit and it comes all the way back down to here high volume red candles so I was like uh that was kind of a drag now off of this level it seems like it sort of had support and at the open it rallies up again and then another massive flush so I didn't take the second uh rally back up because this candle to me I was just like I can't trust it but it's interesting that it came back up you know unfortunately though the price action today sort of across the board has been somewhat choppy TBI this one's squeezed up um for a second at the open and then also did a jack knife so for whatever reason it's just been a little choppier now last week there were some there were some great action after the open we had glmd that was the stock that made that just phenomenal move I'll switch to the FIV minute chart on this so this one just was on fire I mean we had a boring pre-market session it was up at right here squeezes up then it sells off and then at the open this thing goes from $5 to 20 something doar a share it's like unbelievable and then prtg this was another one from last week that made just a massive move now I guess this one maybe was a little bit more pre-market no it was both it it was it was definitely both now that I look at the chart so it squeezed premarket early and then sold off and then at the open makes another move so we've been seeing some nice action during the day uh rsls this one the day before yesterday had a nice squeeze uh during uh during the morning it goes from $6 to 12 right uh so we've been seeing some action but unfortunately I I've had to sort of stay on the sidelines and that's one of the things I mentioned um in an episode last week you know that loss that I took on Thursday it cost me the amount of money I lost on Thursday but it also has cost me more because it's forced me to be on defense and when you're on defense you're not going to be as aggressive you're not going to take as many trades and so some of those trades you would have taken might have ended up being great winners right so the reason I had to rein myself in was really because I got I had a lack of discipline I got sloppy I took unnecessary losses and then I was like I'm spiraling I can't keep doing this so I need to put some tight restrictions on my account but those tight restrictions while I've been doing well this week I've also missed out on opportunities I would have ordinarily been trading because I would trade longer into the day or I would trade bigger size or I'd be just trading a sort of larger variety of stocks so the loss is sort of twofold it's the initial loss and then you've got the sort of future losses that come from being in a a more reigned in state and then there's also not to mention the loss of confidence which by itself can create these habits where you start second guessing yourself you start hesitating and then missing opportunities and it just all of a sudden you're you're out of Center you're not on your game and it's incredible what a difference confidence in yourself makes when it comes to trading and I think that's one of the reasons you know when you have people that are really scared and fearful afraid of losing money and just really nervous they don't trade well because they're just so timid they jump in they jump out they jump in they jump out and that's how I was when I got started because I came from a place where I didn't have a lot of money and every penny I made in the market I needed to keep and sometimes it felt like people that came into the market that had lot of money were the ones who made the most because the relationship they had with the money they weren't trading from a place of fear they were able to trade just with confidence and it's like focus on the charts and I I was always envious of that so then the question is if you're in a place where you do have that money scarcity and you have that mindset how do you fake it till you make it and I mean I think the best way is to practice in a simulator where you're not even putting real money on the line and then when you transition from simulator to real money you're doing it with such small share sizes that you effectively can trade as if money doesn't matter and you condition yourself to focus just on the setups and even though you're only trading with like 10 shares you're building a track record and there's an incredible sense of confidence in building a track record because then all of a sudden you pull up your metrics you know use software like this or whatever you're using you pull up your metrics and you start analyzing them and you know we'll just look at this month for instance um but you get dialed in you're like wow you know am I profitable yeah I'm green right is what's my accuracy all right 60% what's my profit loss ratio you know okay that's what it is my average hold times and you're like all I have to do is keep trading this was 677 trades if I take another 677 trades I can project that I'll probably make another $63,000 okay so maybe you move the decimal point because you're trading with small size let's say you did all of this but you're only up $63 does that really matter here's what I would tell you I would say listen if you took 677 trades and you're maintaining this accuracy with this profit loss ratio and you've got $63 of profit I want to see you starting to scale up go from 10 shares to 50 go from 50 to 100 from 100 to 200 and start increasing your share size a little bit each week so you're conditioning yourself to the emotions that come with experiencing real losses and also having big Winners because that can also put you on sort of an emotional High where you get overconfident and just slowly keep increasing share size increasing share size slow and steady that is really the best way now for those of you guys that want to watch me while I'm trading in real time you can come on over to Warrior trading and do a two-e trial we have that um going on so at any time you can come over and do a twoe trial and during your trial you'll be able to watch over my shoulder while I'm trading you'll have access to the day trade Dash platform right here so you'll be able to use the scanners and the charts realtime Market data you'll be able to pick up the news feed right here you'll be able to be in the chat room so you can see everyone else who's typing and you can uh listen to my broadcast and as part of the two-e trial you'll also have access to a selection of classes to help you get started so I encourage you guys to do a two-e trial it's two weeks for 20 bucks I think you'll really enjoy it and um it's 14 days so whether you start today or you start on Monday wouldn't really matter you'd still have the same number of Market days during your trial um the only difference would be you'd have more time over the weekend if you wanted to to watch some of those classes to help you get off to a good start so anyways I hope you do it I hope you make the most of it and I'll remind you guys as always that trading is risky my results aren't typical so manage your risk take it slow and I'll see you guys uh I'll be live streaming tomorrow morning for members at Warrior trading and then I'll upload my recap tomorrow now by the way I did take trades in the Thinker swim small account challenge yesterday and today I have not uploaded them green days though Green Day Day eight Green Day today day nine so the account is growing I'm going to do a combined recap where I'll combine probably three or four 4 days into one recap and that'll come soon so if you're tuned in live then you're able to see those trades in real time but uh for everyone else there'll be a recap coming soon all right thanks again as always and I'll see you for the next eplo real soon