RED DAY RECAP transcript

all right everyone well today is a red day recap this was a tough day because basically I started first trade out of the gates slammed into the red down 2,000 bucks and it was really hard from that starting point to recover especially trying to keep my share size moderate which is what I want to do I don't want to trade with big size when I'm in the red because that's how you just start to dig deeper and deeper and deeper so first trade of the day 5,000 shares I get in this stock on a nice clean micro pullback and then it d 40 so just instantly flushing down 2,000 bucks and now I feel like to get back to Flat in the day I need 40 cents with 5,000 shares you know that that's a nice solid winner and we didn't have anything that gave me that kind of win so I'll break down the trades for you here today um the last stock I traded was mlgo and this one's kind of annoying because I'm actually read on it in spite of the fact that it's up well 32% right now and that generally I I had the right idea but I just kept getting stopped out on it so mlgo I guess we'll go over this one first because you know why not so 9:00 a.m. you could see it starts to pull away right here and I actually traded this first move I was like here we go it's starting to pull away and I was like you know what I'm going to take it slow and just buy 250 shares it's an expensive stock with big spreads but I took a 250 Shar starter I added another 250 shares and then I got almost a dollar a share as it squeezed up to 18 bucks now the thing with mlgo that I was looking at was the fact that there was resistance uh yesterday and the day before around 1759 and so we were kind of trading above that level then below it and then back above it right here and when we got back above it right here I was like all right here we go this is time to get focused and I got kind of frustrated because I stopped out for a loss right here and then I got back in when it came back up and stopped out a second time and I was like wow okay this is annoying and then I got back in with small size and it goes but I'm in with small size so you know and then I ended up giving back um some profit on this move right here because I thought we were going to break 25 and pull away and I lost another 500 bucks on that trade so in total this is where I sit on the day right now down $387 my low was minus 2,000 my Peak was Plus about 900 and then I went back into the red a second time after I went back into the red the second time I did recoup back to green but I wasn't able to hold on to it and gave up um the green on mlgo mlgo put me back into the green but also sent me back into the red this is a tough stock to trade it's got bigger spreads it's halted down right now it doesn't have fresh news the continuation setup these can be really tricky and even though I traded with small size you know I had a couple trades where I lost a dollar a share on it all right well let's go back to the very first trade of the day we'll start at the beginning first trade of the day phun all right so pH 759 hits the scanners as you can see right here I got in at 762 it pops up here to a high of $8 um and it ended up coming back down and I stopped out at uh 7768 so I made about $15 on that first trade of the day and I was like all right well whatever first TR the day so that was right coming up at 8: a.m. and then immediately kala kala hits the scanners now you'll see the stock kala is actually up 47% today but I'm down 2,000 bucks on it or 1,700 so it first hits my scanners and uh let's see let me actually go into the 10-second chart this will be easier to show you so on the 10-second chart you'll see that I jumped in at let's see it was 612 so I got in right here it pops up micro pullback I jump in it pops up to 640 I'm like all right we're looking good and then right here it dumps to 560 and I stopped out with a $2,000 loss now I did end up um recouping a little bit I had a dip trade on it off of 520 that bounced back up to 560 I made like 200 on that but you know in total I'm still down on it down 1,700 bucks so that was just a disappoint pointing way to start the morning so that's how I started the day kala getting kind of slammed in the red next trade gri now gri is interesting because this is a stock that has a super low float it's been on our scans for a few days we've been talking about it and today they had news that they um completed their offering and the offering was $185 so when I pulled it up I saw that it was a $1.96 cents roughly and I was like okay I'm getting in 10 cents above the current offering price this isn't too bad so I jumped in there it pops up to 250 took a little profit off the table and then it just dumps big sellers come in high volume selling and it's not able to hold so that was really disappointing I was like all right well clearly we're seeing some selling on this so that was gri uh then we had um so going chronologically so I my trades on gri then I had that dip trade on kala right so small trade on that and then we had bsfc bsfc I took my first trade on it at $237 and I bought 25 200 shares let's see so this was back over here um it was time 8:30 so it was right in here so once again I jumped in it's popping up and I got stopped out for a loss I was like man all right another one chopping out on news this is really frustrating but when it curled up right here and started to pull away I got back in and I made a little bit of money on it as you can see I made $998 it did Squeeze up nicely but it became a grinder it was thickly traded it would pop up 7 cents and it would drop 8 cents and it would pop up another 10 cents and then drop 11 cents it was just not clean so I was really getting irritated with this and and um got a couple trades on it and I was like all right making my way out of the red you know into the green here but turning a lot of shares in the meantime had a couple trades on mlgo with small size made a little bit on that um and then let's see I had um a little bit of a close call on govx so gov X comes up on my scans and I see it moving higher and I'm like all right we've got the daily 200 moving average right up here uh but we broke above it so it's it starts to pull away right here I got in this is a ridiculous trade it's just annoying uh because I just felt like today was so choppy so I got in this at uh 440 which was right here let me zoom in so it's squeezing up here pull back push higher pull back push higher so I got in right here it goes up to 450 and then it dumps to 430 and I bought and immediately I'm dead down it goes down to 411 410 I end up adding at 403 and this was kind of just at this point I was like I was so annoyed um I was just like you know what whatever I'll just add and I'll stop out at 4 so when you get to that place in trading it's not really good you're getting a little emotional it ends up curling back up and coming back up here so you know I was like thank goodness and I ended up getting out more or less as you could see Break Even but I was down and you know again I was just I was just feeling so annoyed and I kind of thought all right that was a close call you know I could have been down 1,000 bucks or $1200 on that trade and at that point I would have been down you know ,500 on the day came back up got out break even and at that point I was like I think I should probably be done for the day this is just too choppy but then mlgo you know kind of tempted me back in uh as it started to pull away right in this area at 19 so like I said you know took a first stab lost second stab lost third stab it starts to pull away made about 500 on this move up got myself to Green 500 on the day and then gave it all back as it drops back down here so sitting down $387 on the day I mean I at the end of the day for me as a Trader who's already up well over $200,000 on the year um this is a day that just it it's like it doesn't matter I mean I I came I came I showed up I tried I did the best I C could and I just couldn't get anything kind of like really like dialed in it was and that's what was frustrating was that I just kept taking kind of stabs and it was like losing losing losing losing so after a certain number of losses you just sort of are like okay wow this is getting really obnoxious so I you know so I'm calling it here but I traded a lot on um bsfc or whatever that was um and I had you know trades on all the these others so my fees and commissions today are probably going to be 600 bucks so I'm probably down $11,000 on the day you know which again it just makes a bad day a little bit worse but you know yesterday was a small green day I was only up like 800 but then there were fees and commissions on top of that so at this point my profit is all from Tuesday 4,200 $4500 on Tuesday that's really what I've got for the week at this point yesterday and today cancel each other out so you know it's a little bit disappointing but there's not a lot I can do about it I mean I can manage my risk I can keep stops tight I can try to walk away before I overstay my welcome this isn't a big red day so that's good of course from that perspective uh and I think at this point that's about the best I could do so that's my recap I hope you guys enjoy it uh hope you hit that Thumbs Up And subscribe to the channel and I'll see you back at it first thing tomorrow I'll remind you as always that trading is risky my results aren't typical so manage your risk take it slow and I'll see you back at it live streaming tomorrow morning hopefully we can finish off the week with Friday with a couple nice trades all right I'll see you tomorrow