What’s up, everyone?

It’s a Red Day Recap. Another red day. Second red day of the week. I’m down 1,300 bucks today. I’m not gonna sweat it too much. $9,500 yesterday minus 1,300 today. I guess that’s alright. I’m still green on the week. I can feel good about that.

But man, the market was not easy today. I ended up taking a couple of trades that really annoyed me, unnecessary losses. Even though $1,300 in the red isn’t gonna break me, it’s not that big of a deal, I’ll live to trade another day, it’s still a little disappointing.

The reality is, we’ve had slow markets since last week. Thursday, Friday, Monday, super slow. Yesterday super slow except for like two good opportunities, and then today really slow except for again, actually two decent opportunities. One of them I fumbled. The other one I only made a little bit on.

When you don’t have a lot of opportunities, you really gotta capitalize when it’s there. If you mess up your hotkeys or you’re just not quite focused, that one trade that could have saved your day, it’s gone.

Anyways, finishing the day in the red, but we’ll break it all down in today’s Midday Market Recap. If you guys have any questions, any comments, leave them below. I’ll come back through and answer them later today.

All right. Enjoy.

What’s up, everyone?

We’re gonna do our Midday Market Recap here and go over the trades from this morning.

Finishing today in the red, down 1,300 bucks. I’m a little bit frustrated, because I actually was never green today. I started with a $600 loss on AWX, then I lost another 180 on IHT, had one winner on INNT, had a loser on VRAY, a winner on GBR, and was down 500 bucks.

Then I’m in a meeting and end up taking a trade on AWX and losing another 600 bucks on it. I bought as you can see into this false breakout.

I’m kind of annoyed. Whatever. Market’s just not for me really hot today. I missed the nicest move on GBR, ’cause I had to go into this meeting. This is where the life of running a company sometimes gets in the way of my trading. I missed that opportunity right there up to a high of 340.

But, at the same time, made almost $10,000 yesterday, 9,500. Losing 1,300 bucks today, relatively speaking, not a big deal. It’s a relatively small loss. I didn’t have any blowout trades, didn’t exceed max size, followed all the rules there. Just not a lot of love in the market for momentum traders today.

A little bit frustrating, but you gotta kind of take it with stride and know that tomorrow is a new day. There’s always gonna be another trade coming around the corner.

Just a look at the trades from this morning. Very first trade on AWX jumped into that right out of the gates. It was on our gap scanner, gapping up 9%, watching for continuation. I get in at 80. It hits a high of 82, then it drops.

On this one I was using my hotkey, and I punched it a little late, and my hotkeys always have an offset, 5 cents above the ask, and I got filled to the top. This was sort of a bad fill.

Because I realized I was getting a bad fill, I only pressed it once, then I stopped out at 61 for I guess a $500 loss or whatever.

IHT, not on the scanners, but not on the watch list pre-market, but hit our high day momentum scanner. I see it squeezing up, and I’m like, “All right. This thing looks interesting.” I jump in it. It squeezes from a $1.82 up to a high of 2.07. Then look at this. It comes all the way down to a 1.40. That is a false breakout. Lost 183 bucks.

Next trade was on INNT. Another one that was called out in the chat room. It pops up here. I bought on the one minute micro-pullback, and look what happened. One minute micro-pullback and then this big red candle. Ugly. Really brutal.

At that point I was like, “All right. This is not gonna be an easy day.” Basically three bad trades in a row. I guess I made 155, but still, that wasn’t a good trade. So now I’ve got three bad trades in a row.

Next one was VRAY. I jump into this one at $12. Let’s see. I got in, where was it? This one’s so frustrating. It hit a high of $13.21. I got in right, where was it? I got in right here at 12. I stopped out on the drop to 11.78, and then it breaks out and squeezes higher. Lost 700 bucks. So disappointing.

I had the right idea, but I was in a little early, and I didn’t buy the breakout. I like to buy breakouts. That means when I get in, I expect instant resolution. And when it didn’t happen, I wasn’t happy.

I took a loss on it, but you know, keeping losses small is the name of the game. I’m still up. Yeah, to answer your question there, Tommy, I’m still up over $50,000 this month. Still a great month. This just happens to be a red day.

Lost on VRAY. GBR pops up, well the watch list here. It was squeezing up. As it was consolidating right here at 1.86, I was like, “Okay, guys. This is worth watching. I’m not sure if it’s gonna break out, but definitely keep it on watch.” It ends up breaking out really nicely.

I jump in at 3 for the break of 3, and sell in the move up to 3.20 for $705. I had a meeting that started at 10:30 promptly, which was right here. So I get out of the trade, I’m watching it during the meeting. I’m like, “I gotta focus on this thing.” Then you see here it pops up another 20 cents.

Nice move there. I missed it. I’m bummed I missed it, but it is what it is.

Then I see AWX all of a sudden pop up and get halted, resume, lower, squeeze up, halted twice in a row. I then got in up here for a break over the flat top of 427 and it rejected and dropped down, so I lost another 600 or 700 bucks on it.

Just kind of annoyed. Again, this is a stock that made a big move today, but was right out of the gates, then came screaming out here. I ended up just trying to ride continuation and getting stopped out. It is what it is. For me not the easiest day of trading. Some days are really hot and we can see great opportunities. Other days are a little cold, a little slower. It’s just about trying to preserve your capital as much as you can. Capital preservation. I mean it really is a big part of what we do.

There will be days where this is just not a day to be aggressive. Tuesdays usually are when the Deadliest Catch is on. This week is Shark Week, so Deadliest Catch was not on this week. One of the things that you’ll see them do is they’re gonna be more aggressive about setting tons of pots and using lots of bait when the fishing is strong. They’re gonna be more likely to work 24 hour, 36 hour long shifts when the fishing is hot.

But remember, there’s a cost of pushing that hard. There’s a cost on the crew, a cost to the bait, a cost on the engine, a cost on the fuel. You’re not gonna do that when the market’s not strong. You’re not gonna do that when fishing is cold. Right? There’s no value in it.

With trading you kind of have to think the same way. It’s like, “All right. You know what? Today’s the day the market’s not that hot. It’s better for me to preserve my capital, not use up commissions, not churn shares, not expose myself to an unnecessary risk.”

Because any time those guys are out on the deck, there’s risk that someone could get hurt. So you’re gonna risk someone getting hurt when the fishing is horrible? No. Don’t push them that hard. You push him that hard when the reward is worth the risk.

That’s what we’re doing every day, it’s risk analysis. I’m just happy that even though it’s a red day, and I’ll mark it on my calendar here, it’s not a blow out. This month, knock on wood, ’cause we still have four days left in the month, but this month I haven’t had blowout losers. The biggest red day was $3,600.

All right. That’s very funny. I’m gonna go ahead and do you a favor and send you on your way. Let’s see. I’m just gonna send that over to our team.

Let’s see. Support. Boom. All right. Sorry, buddy.

Yeah. Anyways, I’m really happy that I haven’t had any big blowout days. It’s just been a couple red days, but nothing that serious, and then some really good green days.

Life is good. We’re gonna keep it going first thing tomorrow morning, 9, 9:15, we’ll see if we can find some good opportunities. AWX, you know, it was one of the bigger movers today, but it wasn’t totally expected. It was a little bit choppy at the open, then it really opened up.

I’m hoping tomorrow we see something that is a little bit stronger right out of the gates and gives us a quick opportunity. Usually Wednesdays are pretty good for me, so this is kind of surprising to have a red day on a Wednesday. I’m just writing this in my calendar here. It’s the 135th day of the year.

You know, I guess it’s just the way it is today, just a little bit of a slower day. Really I would say it’s kind of been slow for the last week. Thursday was slow. Friday was slow. Monday was slow. Yesterday was slow except for one trade, one good trade, and then today is slow again.

Maybe we are in a little bit of a slow patch, and the best thing to do is just try to keep the risk minimal. I’m gonna keep my share size maxed at 7,500 shares for right now, so under-trading, under warnings. I go. You see 7,500 is the max size. Keeping the limit.

Now I can do one of two things. I can warn at or I can do not allow at. I leave it at warn at. That just seems a little bit safer.

Oh, I had a question from someone on YouTube about how I get this to look different when I’m highlighted on it. You’ll notice that the color is brighter green when I’m highlighted on my Level 2. So if you’re in Light Speed you can go to click on the little widget right here, this little Settings button.

You can click on that, and you can go into Design, and then you can change Level 2 design and font colors. I customized right down to the way I like the font to look. I have a very specific way that I like this to look. It’s gotta be Arial. It’s gotta be bold. It’s gotta be 12 point.

You get used to what you’re used to. Imagine if I start reading Level 2 like this. You know? We do a little kind of Old Time America style. You get used to what you’re used to. If it’s what you like, it’s fine, but you can totally customize this to look whatever makes sense for you.

I’m just gonna go back in here. I guess I won’t save these changes. I leave it at Arial. I like it at bold. I like to be able to see what I’m looking at. I’ll just leave it at that for now.

On Active, you can change the color. Here, if I wanted to, I could make the first row be purple, and that makes it even more obvious which one is active. This is the one I’m looking at. We’ll go back in here to Design, Level 2. I’m gonna change this font again up to Arial. There we go.

Yeah, you do that and it becomes very clear which one you’re highlighted on. See as I move to the highlight? That prevents you from having an accident, because here’s the thing: this is the one that the hotkeys are gonna work on. If you’re wanting to buy this, you need to be selected on this one, otherwise it doesn’t work. All right?

Yes, it’s very common that the Sell button is also the Short button. If you press Sell here, and you don’t have a position, you’ll go short. That’s typical. Some platforms use a Buy button and a Sell button and then a Short button and a Cover button, but to me that is just kind of silly. It’s really not necessary. I don’t know why you’d really want that.

Does that look … yeah. That looks about right. This purple color is actually horrible for reading. You gotta test out which colors work best.

Anyways, I’m not gonna save this. I’m just gonna say, “Nope. Don’t save those changes.” And it will be back the way it was this morning tomorrow morning.

All right. Any other questions that you guys had from the last couple days? I don’t know if there are any others that I missed on YouTube. Let me just take a peek.

Someone asked how I was gonna find my trade ideas this morning. As always, it’s using the GAP scanner right here or switching to the high a day momo scanner. Those are the two that I’m watching the most closely, really watching them all day long.

How do I move so quickly from trade ideas to Light Speed? That’s a good question. This is the process for me. When I see a stock hit the scanner, the first thing I do is I type the symbol here. IHT. I press Enter, and while it’s loading, one second, two seconds, it takes like two seconds, sometimes three seconds to load. While it’s loading, my mouse is coming down here to Light Speed to type in the symbol a second time.

You gotta be fast on the keys, right? This right here, when I’m not trading I’m wearing gloves. I’m wearing padded gloves, ’cause God forbid if anything happens to these moneymakers I’m in trouble.

I just quickly switch from E-Signal down to Light Speed. I type in the order, the symbol really quick, IHT, then I’m looking at the Level 2. I look back at the chart, chart looks good, Level 2 looks good, I’m seeing buying, and boom, boom, boom I’ll jump into it.

That’s for me my process. I don’t click anything up here. I just look at the symbol. We’ll do the next one. I hear boing, oh AWX? Boom. AWX. Boom. Okay, I’m looking at it. Looking at the chart. I might mouse over it to see what’s high a day.

It’s 43. But here’s the cool thing. Even though my mouse is up here, I have my mouse over E-Signal, but this is still the one that’s in focus, so if I press Shift+1 right now, I’m gonna buy. I can go over here and I can quickly see, “Oh, this is high a day.” Then I can start pressing Shift+1, Shift+1, Shift+1 with my hotkeys.

It’s very quick. It’s muscle memory. Once you get it down, you just know what you’re doing. That’s pretty much what it is.

Let’s see. All right.

I guess that’s about it for today. We’ll be back at it first thing tomorrow morning. Hopefully we see some good opportunities. And again, any of you guys who did have questions, feel free to put them down below on YouTube or Facebook, and I’ll come back and answer them later on.

All right. I’ll see you guys all first thing tomorrow morning.

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