September in Review +$160k! | Day Trading Recap by Ross Cameron transcript

what's up everyone all right well today is october 1st which means we've made it through the summer and september and we're now in q4 which is great usually q4 and q1 are my best months of the year so october november december january february march and then things often slow down in the spring the summer hit or miss this summer wasn't bad we did have some good opportunities august was a bit slow it picked up here in september we did have some good trades so i'm gonna break down for you uh in today's episode september in review it'll be a month in review where i'll break down the profits of the month i'll give you the context of where i sit on the year and what my plans are for the rest of the year and now i want you to remember as always the trading is risky my results are not typical and you shouldn't try to blindly follow me or anyone else the typical result for beginner traders is losing money because trading is hard and it's risky so you should assume you'll lose and with that assumption mind trading the simulator before you put real money on the line make sure you take it slow i hope you guys enjoy this recap this sort of september month in review it's a brief recap of my trades from today i only took two nothing much to report there i'll go over it but primarily talking about where i sit on the month of september and again where i sit on the year what the goal is for the rest of the year so please hit that thumbs up hope you guys really enjoy this episode and let you jump right in all right enjoy [Music] all right everyone so today we're going to do um not really much of a recap today's october 1st and i got uh two trades on palt but i was having an internet problem this morning so i i took the one trade even though i knew i had an internet problem i took the second trade and then it happened again and i was like you know what let's not push it so uh that was p-a-l-t it was a continuation set up it had this long uh consolidation pattern that it was in and it did break out of it to the upside uh but then it broke down the trade that i missed which would have been the one i probably would have done the best on was this candle right here so that's okay um anyway so i figured today uh instead of really doing much of a recap we'll just do a breakdown of september month in review so let's see if i back this out um i'm going to go from january 1st 2017 so from january 1st 2017 i have about 9.4 million dollars in gross profit that's gross before fees before commissions ecm fees commissions and of course before taxes so that's the the total profit that i've made trading and then you got to pull the fees commission's taxes off of that fortunately i've done a decent amount of trading in a retirement account so that's been tax-free but in any case so that's from january 1st the reason january 1st is significant is because on january 1st i started with in my account so that means all of that profit is from an initial starting balance of 583 and if we go back to uh that first month of january my very first day in gross profit was 156. so these were small green days before finally starting to make some progress uh that's again gross profit if we go through february pretty quickly you'll see that i started and go to 90 days pretty quickly i started to do well i had a pullback but then rallied back quickly and we go through the end of 2017 approximately and let's go to 31 so this was um 2017 roughly let's see 382 000 gross this is cumulative over 30 days but uh i guess this over here would be win-loss expectation so this was my first year 2017. started initially with 583 dollars in my account small account challenge and then just kind of kept going from there so uh this is a good time for me to say that my results are not typical most beginner traders lose money and so you should assume as a beginner you would lose money as well and with that assumption in mind trading a simulator before you put real money on the line when i started this challenge i was already a profitable trader just as the 2016 shows which i do have imported here so anyways uh now we've had a really incredible year and a half 2020 brought uh an unprecedented level of volume and volatility into the market and 2021 has been a continuation of that especially with gamestop at the beginning of the year that was obviously a big surprise so this year i'm sitting at about 2.99 million in gross profit before fees and commissions accuracy is about 65 profit loss ratio is a little bit negative i've had a couple of big losers that was a 240 000 single trade loss that's more in about two minutes but well i don't know how long that trade was let's see um the duration of this trade let's see so between 1008 and i don't know 10 15 i lost more than some people would pay for an entire house but uh in any case it's the way it goes so it's been a wild year and so let's hone in now on the month of september all right so this will just be the month of september i can click september 30th but i haven't imported anything for october 1st since that's just today so 194 thousand dollars in gross profit my total commissions were 5444 and my ecm fees were 28 000 which gives me a net profit of a hundred and sixty thousand all right so hundred sixty thousand dollars on the month now you could say well ross what wait a second you could just go trade at robin hood free commissions well if i traded at robin hood of course they'd presumably be selling my order flow i wouldn't really want that if i traded it e-trade or ameritrade well perhaps free commissions not sure exactly what they do with order flow i use a direct access broker which is lightspeed trading and of course this is my level 2 window and this is my order entry window and so when i uh look right here you can see each one of these market makers ajax nasdaq arca i can choose which one i want to route to you can do a point and click if you want you can enable that or you can just drop down here i could route to edgex i could route to bats i could route to j and although we're aware of algorithms uh around big orders that come in and the way the algos kind of try to stretch the slippage to their advantage and things like that being able to do direct access routing allows for extremely fast executions extremely fast and just as an example i could do um you know one share let's see 11.50 so i'm going to click the buy button look at how quick it's going to show up right there oops sorry there we go so just like that i'm in one share and you know my average changes so just as soon as you see that change i'm scaling up so now i've got three shares on this you can see right there sell half sell the rest i mean it's instantaneous really as soon as you click the button as long as you click it in the right spot which sometimes is a problem but as long as you click the right spot on that button you're going to have instantaneous execution so you pay for that and that's a cost that i'm willing to pay for it's not insignificant i suppose although in the grand scheme of things it's fairly insignificant and i think it's worth it so my ecn fees were a little higher this month and they've been a bit higher this year i've kind of struggled this year with over trading i had such a good year last year that i tried to be even more aggressive this year by trading with larger share size and really trying to catch some big big wins but trading with larger share size results in higher fees and it hasn't really translated to more profitability although i guess if we look so this is um 1 1 20 21 so year to date i'm at a net profit of 2.6 let's look at last year at the same time out of curiosity i was at 3.2 so i'm a little behind last year at this time you know like 800 000 behind it or six hundred thousand but uh yes and and i've been trading with higher volume uh this year so average volume is higher by almost fifty percent but the profits are lower so trying to trade more aggressively trying to make more money but in fact i haven't been as successful in that so the fees are a bit higher than they have been in the past anyway so let's go back to just the month of september all right so month of september um i can look at the overview let's see um so this is net gross so 60 accuracy i think the accuracy changes maybe just slightly there's a couple break-even trades average winners six minutes long average loser seven minutes long nothing probably especially exciting there but this was a little bit disappointing for me that i started the month with some nice trades and then in two days i gave it all back and went red then again had some you know decent progress here and then another kind of big red day so let me switch to the overview in the calendar so i had a big loss on friday uh the third of september so that hey girl come on girl so that gave back everything i made on monday and tuesday then a second big loss on tuesday the 7th no trades on wednesday monday was labor day had a nice day on the 9th a nice day on the 10th decent day of the 13th the 14th and then 100 000 a day on the 15th that was awesome right could use more days like that red day back to green another bigger red day 37 000. recouped it the next day no trades i guess on the 22nd and i'm trying to remember what happened on the 22nd why i didn't trade that day i'm kind of at a loss does does anyone remember what was going on in the 22nd um i don't know if i was having an internet problem that day or it was just a slow day but it seems odd but um i mean that's what that's what it says so just look at my looking at my calendar here um but in any case i don't know something i must have had something that i had to do on wednesday um i think i had a meeting that day let's see yeah it looks like i had a meeting at 11 and there probably wasn't much going on early and then i just was like yeah whatever um yeah and then i was teaching warrior pro classes later that day oh you know what it was because you're right i was trading in a small account that day that was the final day i think of the small account challenge which is why i didn't trade my main account so yeah actually and that's worth noting so this is just my main account this isn't the small account challenge that is separate uh this is just my main account so then anyways um yeah but the night last friday 37 000 red day so i started last week with 37 000 red day and i finished with a 37 000 red day and so i basically was well read on the week uh monday and tuesday weren't great wednesday also wasn't great and then uh we had the big move on palt and that's what i traded yesterday uh wednesday and yesterday palt so we got that surprise squeeze on palt right here as it halted up at 750 and that trade is what gave me about 30 thousand dollars of profit is it squeezed up and then traded again yesterday i traded again today but only small gains as i was running into internet issues again today so yeah so that's my that's that's the month um high level let's see um so biggest drawdown was 75 000. drop down 75 000 and um and it comes back up drops back down comes back up so a little tricky there days and times a couple losses in the afternoon but then actually this this month afternoon trading uh was successful for me so that's good to see uh this is an interesting pattern read on monday right on friday wednesdays that was the day this month but you know i that pattern can change so much from month to month i don't usually look at it too closely but what i would note is that uh this year a year as a whole mondays have not been very good for me so that's i don't know what to attribute that well i've got some ideas but mondays have not been great tuesdays wednesdays thursdays and then fridays cool off a little bit and generally afternoon trading i don't do particularly well so from 9 to 10 i do well but then after that i usually just taper down anyways but when i do come back for some afternoon trades things can get a little a little crazy so this has been my year went right on the year by over a hundred thousand surged back up gave back about over a third of that profit almost half of it and then have been pretty steady here since march haven't had too many like big big trade big big huge days but you know i've had a couple here and there so this this month uh the biggest day was the hundred thousand dollar day which came as a bit of a surprise to me i wasn't expecting to have a day that big um so we can look at irnt indp and let's just take a glance at those stocks so indp [Music] let's see this was on um this day here so it was pretty disappointing that it did not end up holding its levels however look at that move i mean that was amazing from 1286 all the way up to a high of 28.83 so we really did have some great action on that day and that was my best day of the month and it was the first day i finished over a hundred thousand dollars in um in a while so i could use a couple more a couple more days like that but then the fact that by the end of the day it was all the way back to flat was was pretty disappointing so i kind of felt like that although that was nice that we had that it also sort of felt like it weighed on things a little bit just the fact that it didn't um that we didn't have a strong finish we didn't get a really nice second day continuation on that stock which um you know that's discouraging it's not what i really like to see i'd always prefer to see more like what we had on palt where we have multiple days of opportunity that's when things usually for us get pretty good and i i thought maybe we would get you know that breakout today back through 14 25 and 15 20 but given that it's friday i i don't know i just it just didn't happen for me but um anyway so let's see let's look um so back at the matrix here for the month of september so we looked at days and times uh price and volume so didn't do particularly well on lower price stocks and higher price stocks lost a little bit so in fact this month between 10 and was my sweet spot usually i would be green between five and ten however i think one factor here was that because i was doing a small account challenge most of the stocks between five and ten i was just trading in a small account and i wasn't trading them in the big account at all so i guess that's that makes sense um so by instrument biggest winner hlbz in total gains indp eftr palt arq biggest loser impl that was with the fda announcement xevo acy gdev mrm performance by instruments volume low volume stocks i lost on high volume stocks i crushed so you know it's a reminder so the thing is when news first comes out the volume initially is low because the news is coming out and in those moments you think oh wait i'm the first one seeing this big headline and so i jump in but then if it ends up that the market doesn't respond to it and it drops back down well you know that's a low volume trade and a big loss so performance by instruments relative volume so the majority of my profit uh was on stocks that have five times higher volume on the day i traded them than um in the 50-day average so the performance by the instruments prior day also seemed um better on stocks that were sort of like fresh news sometimes this will be and if we look at this over a longer period of time you'll notice it's more of a a curve there because oftentimes i will have profit on a previous uh based on the low relative volume based on previous day because that's continuation so p-a-l-t yesterday was continuation so i made 18 000 on it yesterday but the relative volume was lower than the previous day right it was actually lower why was it lower well the previous day was crazy high however both of those days were 50 times higher uh five times higher than the 50-day average so both of those days would have fallen into the 50-day average profit column here five times higher than the 50 day average but the first day would have been five times higher than the previous day whereas the second day would have been you know somewhere in here so kind of interesting on that and um performance by instruments movement less than ten percent i guess oh well this is in a longer period of time let's look back at the month just of um just of september so yeah for the most part profit is on stocks that are um up over 10 percent so you know if you're trying to hone in your strategy what i would be doing um you know if i was sitting down with a student and we were saying all right well these are your metrics and you're trying to get a little bit better can we cut this stuff out can we cut this stuff out yes you have profit here but then the losses negate that so just cut all that out so we focus on here okay so performance by instrument so this would be only trading stocks with at least two times relative volume only trading stocks up at least 10 percent right here primarily or you could just say only trading stocks gapping up more than two percent now the only thing here is that sometimes you'll have a surprise momentum stock that's not a gapper but usually those don't work well and then in this area well focus on higher volume so market behavior nothing really super significant for me to review there most of the month market was kind of range bound when lost expectation we've looked at this before so you know some draw down days there and there but overall not that bad and you know what's nice is that if we go back to six one oops six or five that's fine so i had a kind of long stretch here from um when was this july 22nd to right here so a full month basically of draw down back up back down before breaking out now that is a bit of an abcd pattern and a flat top breakout it's a nice looking pattern so i'd be a buyer right around there for the breakout maybe even buy the dip for the move back up but that was a long stretch and it wasn't a lot of fun being knowing i was in the red by 150 000 versus my all-time highs but you know again that's part of trading you've seen me go through that a million times and then rally back up so as of right now i'm basically i finished um the month of september at all-time highs for the year and all-time highs for my small account challenge that started uh back in 2017 so i'm sitting at 9.46 in gross profit and net profit is about 8.39 8.4 somewhere around there and the next goal for me is to cross over 10 in gross so i'm about 600 thousand dollars away from that i would like to be able to do that by the end of this year so we've got three months so you know 600 000 away 500 000 away five fifty so you know if i can be averaging well it would need to be 200 a month however the good news is we are coming into what is typically um the good time of year q4 october november december that doesn't mean it's no guarantee that it'll be a good quarter but i'm hopeful that we do have some good opportunities and if we do it'll be a great finish to the year but at the same time if we don't as long as i can keep my head above water stay green and try to minimize the down um the draw down and those losses it'll be a it'll be an okay finish so that's um that's my sort of breakdown of september month in review 160 000 in profit not the best month i've had uh of the year i guess if we could take a quick look there just um so oops go to 2021. so we'll do overview and we'll do um like this so you know have been kind of on a little bit of a you know great january thanks to gamestop february march we're good at 400. june was just under 400 july was right here before i lost 150 000 in the last week and then had to play it safe in august and september so my hope would be that we'll see a november october like that november like that and the december kind of like that that's the goal all right so it's good to set goals and that's uh where i'm at right now so we'll see where we finish the year hopefully we have a nice finish and i'm excited for i'm excited for the the fourth quarter but realistically i i'd be totally happy i mean man if i was averaging 400 uh just for the next three months that would be another 1.2 million that would have me finishing the year at about 4.2 million which would be great that would be phenomenal so i think to be more realistic um even just finishing over 200 um as a baseline kind of goal 200 is great that's 50 000 a week but if we do get a couple of big momentum stocks you know we just got a couple and those ones become hundred thousand dollar days it's only gonna take you know four or five days like that in the next three months to make a huge difference uh the way i finish the year so i'll be i'll be here i'll be looking for it and um that's that's the game plan all right so that's it for me hope you guys have a awesome weekend and um as always again i can't say it enough trading is risky we know that the risk of loss is real and many traders uh will take very significant losses as they're getting started so take it slow trade in a simulator before you put real money on the line my results are not typical you should not try to blindly follow me or anyone else take it slow all right so with that i hope you guys have a great weekend and um i'll see you back at it real soon all right see you then i hope you really enjoyed that video and make sure you hit the thumbs up and subscribe to the channel if you haven't already our goal is to hit 1 million subscribers this year but we won't get there without your help so please please please hit that subscribe [Music]