Base Hit Day Trading for +$7,209.08 in 3hrs transcript

What's up everyone? All right, so in today's episode, I'm going to break down my trades in my main account. The small account challenge today, a little rocky, didn't take any trades, then finally took two trades right at sort of the end of the window when I typically make the most money. One was a narrowly averted disaster, recovered to being a small winner. The second was another small winner. So, small green day over there.

I was focusing more on the main account today as I had yesterday, but I was kind of let down because we just didn't have anything that really made the type of move that we had yesterday or in fact on Monday. We had S dot which is really funny. This stock, man, if I had known, you know, back here on day one how high it would go. Remember we were trading S dot last week when it was way down here. It had popped up. It had dropped down.

I then got in it um what was it like in this area here for a trade at the open and that was down at $10 a share. Well, today it hit a high of 84 $84 all the way to the 200 moving average on the daily chart. Did I trade it? No. It's too expensive. I just couldn't. It's too risky. The spreads are too big. No trades on this one. When I first sat down this morning, we actually had TC that was up um a good bit. And this one's kind of funny because yesterday it drops from 8 down to a $1.50 and then it the market closes and then it rallies up like 300% after hours in pre-market.

So technically it's the leading gainer, but it's just back to where it was the previous day. So when I first logged in this morning, I actually did take a trade on it right here on this dip at 7 a.m. and I was looking for it to curl back up and test this level, which I expected would be resistance, but worth a stab. Well, as sometimes happens, when I first logged in, I was in my margin account, not my retirement account, took the trade, lost $394, realized I was in the wrong account, and switched to my retirement account for the rest of the day.

So, that $394 will be a taxdeductible uh loss. It's it's a net loss. Um, so that's beneficial. But, um, my gains here in the retirement account, I'll have no income tax on them, which is great. U, but my total gains are are quite modest today. up $7,298. And so the first stock that I traded in my uh main account here was CF. CF is a stock that we've traded many times over the years. And if you look at the daily chart, this is what it does.

It gaps up, it goes lower. Gaps up, goes lower. Gaps up, goes lower. Today, we had the 200 moving average at $7. And when it first popped up, I was like, nah, I don't think so. This stock never works out that well. I highly doubt it's going to do anything. And son of a gun, this thing went from 290, straight up to 440, flushes to 370, rips up to six, drops back down, bounces back up, drops back down, bounces back up.

I mean, this thing was trading in an unbelievable range. So, my only trade on it was an entry at about 7:06 a.m. So, that was right in this area here, and I bought as it was breaking over um this area right here. And I was looking for the breakthrough descending resistance. I added at 550, added at six uh right up here, and took profit with my best exit being at the high of let's see, so 553, 567, 577, 616. took half off the table 604 603 and so on so forth.

So that was my one trade on CF. Jumped in, jumped out and uh you know the thing well actually u so it didn't hold up very well. Now I did actually get back in as I recall and that was when it came back up to the volume weight average price right here uh just before the opening bell. But look at these look at these jack knife candles. Rejection rejection. I mean, this thing just wants to punish traders. It's It's just not clean.

So, made the 7,300 on that first trade, jumping in and out. Um, made only scratch on the second uh trade at the break of VWAP, but you know, I'm green on it nonetheless, so I can't really complain too much. Then we had um let's see which was the next trade. Um then I had the trade on GEM. So, GEM, this one was the one we traded yesterday. made a huge move yesterday, pulls back and then an after hours goes from 4 to 12, drops down pre-market, starts to rally up.

I got in for the break of 10 right here. Got in, didn't pull away, got back out. So, in and out of that, didn't end up working. I was hoping this would break through 1087 and squeeze all the way up to 13, but wasn't able to do it. So, in and out of that, ended up losing on it. The next trade was DXST. This one came out with news is now uh sold off quite a bit. But I jumped in it for a micro pullback and was looking for that squeeze through four and uh this was the micro pullback right down here.

That was the curl. Didn't break through the high. Didn't break through four. Not easy to trade. Chinese stock. Disappointing. Had news. Still didn't end up working. LHI was the stock that uh excuse me I suppose a lot of people are focusing on today. Uh, but I wasn't interested in this one. Thickly traded, a little too cheap. I just said, you know what? It's it's just not happening today. I'm going to take the $7,000 off the table.

First day of the new month of July. I'm going to lock it up and I'll try again tomorrow. Now, this week is a short week. Tomorrow's are going to be our Friday. The market's closed on the actual Friday for the Fourth of July holiday and then back at it on Monday. So, I'm just going to try to have a decent little day tomorrow. If it's a small green day, that's fine. I mean, if we end up having something that's obvious, I'm happy to trade it, but I'm just not really I'm not counting on it.

So, at this point, uh, small green day, that's fine. Good start to the month, and I'll be back at it first thing tomorrow morning. So, I'll remind you guys as always that trading is risky. My results aren't typical, and there's no guarantee you'll find success whether you trade with me or you learn on your own. So, please manage your risk by practicing in a simulator before putting real money on the line. With that, I'll see you guys bright and early tomorrow morning.