Removing indicators from trading charts can help new traders focus more effectively on price action and tape reading, as excessive indicators can distract from the core market dynamics. Traders should prioritize understanding raw price movement, order flow, and market sentiment over relying on lagging indicators like VWAP or moving averages. This approach requires developing stronger chart reading skills and patience, but ultimately leads to better trading decisions by reducing visual clutter and encouraging deeper analysis of market behavior.
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LIVE DAY TRADING | Raven's Trading Room - Thursday, Let's Get It!Ajouté :
Good morning everyone.
Let's see what's going on today.
New day, fresh start. Super excited about it.
Um, and let's see what's going on.
Good morning.
Let's see. Let me just get my chat going here.
Let's see.
>> Good morning.
Yeah, good luck everybody. We got this.
I had a rough day yesterday, but I'm back today. You know, I got right back on the horse. I picked myself up, dusted myself off, and got right back on the horse.
>> Yeah. Good luck, everybody.
>> All right. Wait, I've got my thing looping here. Let me get my volume down so that I'm not interfering with my own.
There we go.
All right. So, let's see what's popping up, guys. Let's see.
Hope springs eternal.
I am nothing if not persistent. So, that's that's the name of the game. All right. So, Q.
Huh. I tried adding some columns to my watch list that I wanted to see, but um it's not giving me a value here. I don't know. I was using Think Script.
Sometimes, you know, you got to play with it until you get the right think script. All right. Quy popping up again.
We've got, of course, float under 20 million inf.
Let's see what's going on.
Uh, hard to borrow. QFC QY.
Hard to borrow. Hard to borrow. Okay, so let's see what's going on. Um, so this is interesting. I I tried to do a column for relative volume to try to, you know, I use some Think Script, but for this one, it's not producing a value. And obviously it has volume. So have I Wait a minute. Let me see. Let me check your comment, Wayne.
Um I don't I basically just check the news in the morning. Like for example, I'll just literally Google like how is the stock market today. I have um I did sign up for Forex, what is it called? Forex um factory, which has, you know, a lot of news, but it's not just American stock news. It'll have like like I just pulled it up for today.
European, German.
Um, let's see what's on the It gives like economic forecasts. Um, you know, 8:30 a.m. Philly Fed Manufacturing Index, unemployment claims. Um, you know, another good source of economic information, of course, is the Bureau of Labor Statistics. I used to work for the Department of Labor for 17 years, so I'm like, uh, that's the source of a lot of economic news.
So, today stock futures are trading slightly lower. Um, yep. Nvidia announced their earnings last night.
Um, what do you subscribe to, Wayne? Do you have um I know I did pop on at uh the close of the market to check out what was going on with Nvidia.
Uh, I'm just kind of starting to track, you know, some of the large caps, some of the large cap tech stocks. So, um, but yeah.
Yeah. What do you guys use for your morning news? So I just basically I Google it to get a big overview and see like what's coming up with earnings and what's coming up in terms of economic news.
Um, I mean, honestly, I think after reading Andrew Ziz's book, he was like the news in a way doesn't matter because what pops up is what pops up, right? I guess that's one philosophy. Um, I do though just out of habit like to know what the temperature is in the market and just kind of have an idea. But I don't know, does it anchor me to a bias?
Possibly. Possibly it anchors me to a bias, right? And then if I if it's a good market day, I feel like uh I had a bad day, but it was a good market day.
What's happening? you know.
So, um, yeah, I feel like going to the Bureau of Labor Statistics, you know, they track unemployment statistics, you know, consumer price index, producer price index, GDP, you know, all all the big economic indicators. So, that's obviously a pretty good um barometer of what's going on in the economic the macroeconomic uh outlook.
So, and I tried to um let's see. Yeah, like I said, I was trying I was trying out adding relative volume and the gap above the previous price close, which were things that I was tracking in um the Warrior Trading Scanners, and I really liked that. So, I added that to my watch list to try that out. Um let's see.
I like the fact that you can um customize your, you know, the watch list and everything in Thinker Swim. I'm sure you can do that in all the brokers, but um yeah, but for some reason it's coming back with no value for relative volume on QY.
I don't know why, but now I can kind of look at um shares of standing, not the same as float, but it'll give you kind of a ballpark figure. Um, let's see.
Yeah. I mean, I guess for float, there's really no way to do it in Thinker Swim, but um yeah. So, let's see.
My trading plan. I'm going over my trading plan and I'm like, "Oh man, this is turning into like just an absolute um it's getting more and more simple.
every day.
Um, all right. So, you know, I'm just looking at my I'm still working with a simplified layout, guys, um for today and tomorrow. And I really like it, you know. I'm really really liking it. Um, I feel like I'm definitely in spite of yesterday's, you know, big loss, um, because of my trade at the the my very last trade, I do feel like the tape rating is making a huge huge difference in my awareness and and looking at the price action. Like I'm just seeing things I think a little bit more clearly on the chart. Yeah, I think simple is good. I'm seeing things more clearly on the chart. Um so limiting myself has been good, you know, and I'm going to do that today and tomorrow for sure. If I add anything back, I don't know. I I would kept saying if I add anything back it would be VWAP. But what I've been doing is I've been looking at my trades after I'm done trading with the indicators on to see and honestly I'm not sure that it would help me because volume weighted um average price, you know, it's still a lagging indicator.
Um I think I might be better off really just training my eye, which I know is a much slower process. I realize that training my eye and then you know maybe adding the indicators.
Wow. Okay. So, let's take a look at that. That could be interesting today.
Yeah, I was watching it yesterday, but of course the earnings were coming out after the market closed.
So, let's see.
Wait, price projecting 320 to 350, guys.
Right now it's at 222. Let's look at the daily chart.
Well, that is and so BFA you mean Bank of America.
Well, that would be insane.
Well, when I checked all my trades after, I had extremely mixed results this week.
Um, so there were good trades which were below VWAP and there were bad trades which were above VWAP. It was just a mixed bag. It wasn't a clear wi go one way or the other way. I'm not saying that I won't put VWAP on my chart, but it wasn't really like giving me a clear like yes, you should have VWAP. If you had VWAP, you would have traded better.
I really like my big my my worst trade yesterday was above VWAP.
So um and some of my good trades were below VWAP. So I the thing the problem is that I was getting distracted by the indicators and watching them instead of the chart and the tape and then I think I should be watching the chart and the tape and then using VWAP and 9 EMA as confirmation.
I was kind of reversing it. I was starting to look at the indicators first.
So, uh, yeah, that's why I think it's it's good for me to look at the tape. But wow. Um, expectations on Nvidia. Crazy.
Uh, wow.
That would be insane. Over 300, $80 a share. But is that like something that they're seeing like not intraday, right?
over over time.
So yeah, if you're looking for like broad macroeconomic news, just the Bureau of Labor Statistics is really honestly like the simplest I buddy of Wow.
Oh, that hurts. $11,000.
Oh, yeah. I think I think a lot of it I mean again I'm not an expert. I'm a new trader, but I do think a lot of it comes down to like you know well first of all even the best traders are going to lose sometimes, right? Um but okay, 12-month targets. Okay, so that's for people that are holding for a longer horizon, you know.
Um, and yeah, if you're looking to hold for the long term, that's that would be more appropriate, right?
Um, yeah, I mean, I think all of us who are new, um, you know, we have to accept that there is a certain amount of loss in the market. Um, we just have to win more than we're losing.
That would be the key.
Um, and I do have trouble sometimes I have trouble accepting a loss. I that was rough yesterday. I had trouble accepting that emotionally. But I am back today with a clean slate. I want to like let it go to the point where it's not hindering me but also remember the lesson that I learned which is I need to know understand my risk in terms of dollars before I get in. I knew where my stop was, but you know.
Yeah, he had some big losses. I think he had a good day yesterday. I didn't watch it. I'm going to have to watch his recap after my trading today. I couldn't watch it last night, but um I think he had a good day yesterday, but he did he had some big losses and he's had a lot of no trade days. Um so yeah, he's had a lot of no trade days recently. When I first started watching him last year, it was like, you know, um he traded literally every day. He had like one no trade day occasionally, but now he he's had a lot. I think that says something, you know, he's holding out for quality.
Says something, right?
you know, and his results seem to be more like, and again, I've only been watching him for about a year, but his results seem to be more like it's all or nothing, right? He's either hitting it or he's not. But I think he's just holding out for quality, honestly, which is what we should all be doing, right? It's not a hot like a super hot market. So, I feel like we should all be holding out for quality.
The problem is when you're new like me, what I think is quality is different than what someone like Ross thinks is quality, right? You know, obviously.
All right. This is weird. I wonder why it's not calculating relative volume.
But in any case, the relative volume is pretty low on these.
Um, I'll have to see if I got my Think Script correct.
Yep. It says it's gapped up 5% over the previous day's close.
Um, okay. I'm not seeing anything amazing.
So, my plan for today, because yesterday I had a big a loss, you know, a big loss. I had a max daily loss. Today, I'm just going to stay calm, focus on quality, and um yeah, just keep pushing forward like one day at a time. The mistake I made yesterday is preventable.
So, it's not like I did something that I was confused about. At least I at least when I'm making mistakes lately, I understand what I'm doing.
Yeah. Exactly. Exactly. I mean, the money is the number one object, right?
But the pro I feel exactly that the process is the most important thing. If you focus on the process then um you know and improving your process I think I think it'll eventually come. I think it's like anything else, right? But yeah.
Yeah. Some traders they don't even look at their um P&L when they're trading. I don't know how they do that. That would stress me out. I hope to get to the point where I can have that zen approach.
Um, let's see.
All right. So, so now again, when I Google like the news and what's going on, I'm like, am I anchoring myself to a bias? So, it says US stock futures are trading slightly lower today as Wall Street digest the latest earnings report from Nvidia.
Pre-market futures for the major indices are pointing toward to a modestly lower open following a strong Wednesday rally.
So, you know, I might end up being too cautious, but hey, after yesterday, I think I should be cautious.
And um so, but I just wonder how much of that is anchoring me to a bias.
SBFM.
Oh, wait. This is the daily chart. So, 5 million shares.
I've got Nvidia up there just because I want to keep keep an eye on it.
So, INFQ has a lot of shares outstanding.
a lot and nothing has relative volume. If if I did this calculation correctly, nothing has relative volume that's above the 50-day average.
So, right there, that says something.
Oo, Eligos. Great.
Yeah, losses are the cost of trading.
I know. I know. I really don't let things get to me too much, but when I make mistake, h dumb mistakes. I don't mind losing if it's just like, hey, it rejected or whatever, but yeah, thank you. I will try not to be grumpy about it, but you know, I want to make sure that I'm addressing the problem. So, ZN DU, let's check that out. Z uh XN XN D U.
But thank you, Wayne.
Ask my kids if I'm sweet. I don't know.
No, I am I'm a good I'm I'm sweet to them. They're they're really good kids.
Okay, so Oh, wow. Look at that. Awesome.
Run up.
It has a large float, but let's see. New It has good news. Announces Xanadoo.
Wait a minute. Isn't that a movie with Olivia Newton John from like the 80s?
Am I dating myself there?
remember she released a song and everything.
Um, okay.
They this new implementation is expected to reduce the number of expensive quantum operations by approximately twofold directly overcoming a significant hardware bottleneck that challenges near-term utility scale fault tolerant quantum computers. I love the anything quantum computing. I love low volume and its spread is a bit wide.
Yeah.
Okay. So, yes, it still has under a half a million shares in total volume. Yeah, but we can we can look at it.
Yeah, we can take a look at it. But relative volume, it's so its total volume is low.
And if I did my Think Script correctly, relative volume is 1.8 because what I just learned is that you can customize your watch list with Think Script 2. I thought it was just the scanners, but you can put Think Script into a column for a watch list. I don't know if anybody does um does uh Think or Swim, but if you if you want to add a custom column, if you go down here to custom, you select it and when you go into it, you can name it whatever you want. You can add Think Script. So, I was playing with that today because I wanted to add a column.
Uh hey HD, good morning. Um, I wanted to add a column. So, now I can see hopefully. It's weird though that qy isn't showing me. Maybe it doesn't have 50 days of volume. Let's see. Is that why? No, it has 50 days.
Oh, wait. No, that's Let's see. QY.
Oh, maybe it doesn't have 50 days of volume yet.
No, that's 50 days.
All right. I'm not sure why it's not returning a value for volume, relative volume here. But if I did my think script correctly, this would be that X NDU has 1.8 times volume 1.8 times the 50-day average.
Um, and that it's gapped up over the previous day's close 20 20%. I think this is the percent. So, I was playing with the think script.
Oh, no. It's okay. Thanks, Flipflop. I do that, too. I'll watch Ross's video and then like five minutes later be like, I forgot to thumbs up. And I literally have watched his recaps. Like I've watched every single recap he's done since like probably last April. I think that's when I discovered Russ. I started day trading with paper money. Um well, okay, so I actually made a few trades with real money I think in February or March last year. And then I said, uh this is kind of I was doing tons of research and then I discovered paper trading. So then I started paper trading, then I discovered Ross. So, but thank you. I appreciate the thumbs up, of course. Um, yeah, we're just looking at um Eligo's got a great trade on Xanadoo.
I just love the name. Am I the only one that remembers the Olivia Newton John movie from the 80s, guys? Zadoo.
She had a whole song that she released in everything.
Am I crazy?
It had that dreamy everybody's on drugs vibe. See Xanadoo.
They ripped off the name of the movie.
She released a single and everything.
All right. So, we are looking at um like come on, someone's got to remember that. I just remember the movie being really bad. Okay, so SBFM is climbing up.
Let's see. I'm just going to check. Are any of these easy to borrow?
Well, Nvidia. Okay.
Nvidia is a whole other animal. Okay.
So, um experimenting with adding um I added some of the columns for the the things I would normally check on.
So, it's saying that it it looks like it gapped up from the previous day's close. So, I feel like this is not accurate. Feel like this is not working the way it's supposed to.
I'm gonna have to check my think script on that.
I don't know if I can trust that one yet. Oops.
Let me see. Customize.
Wait, did it take it off? I think it took it off. Okay, that's fine. I'll just I can't I feel like I can't trust that one yet and it's distracting me.
Okay, but relative volume I just don't understand why qy doesn't have that. But if we look at none of them really have great relative volume right now.
This looks nice though. Look at this.
It's first pullback, second pullback.
But the penny stock thing. INF Q.
Things seem kind of uh low energy today.
ABBA. Next. I My friends and I were obsessed with ABBA in the 90s. We went to see an ABBA cover band.
It's funny because I like rap like in hip-hop. Like that's my main thing that I like is rap and hiphop and um but who who doesn't love ABBA, right? It's a classic. It's played at every wedding.
All right. So, so INFQ it's over $10. It's a little expensive for me and the floats high.
So, I'm going to take this off my list.
All right. The penny stocks again kind of uh and Xanadoo. It's a little high for me now, but and the higher float, right?
It's really pulled back a lot. So, let's see.
Thank you, Scooter. Thank you. Yes.
See, it was it was trippy. It was real trippy.
Um, yeah, that's a good point. SBFM.
Wow. I That's a good point. That thinking like if it's run up recently, there'll be a lot of bag holders ready to try to dump it.
That's a good point.
Yeah. I haven't had a great track record with penny stocks. I seem to do well with stuff that's like$2 to$10.2 to $10.
That seems to be my sweet spot. But but I don't want to miss out on something that has good price action.
But you're right. I think that's something to consider. There might be a lot of people holding on to it trying to dump it.
I've been there. I have been there.
Let's see. Um, all right. So, I'm gonna I'm gonna I'm only I only have Nvidia on there to kind of, you know, just keep an eye on what is going on.
I'm just tracking certain things.
Um think today might be kind of quiet, but yeah, look at this. It's kind of grinding up higher.
So, one of the things that I've really been feeling good about um taking indicators off my charts is that I'm able to see the trends more clearly, which seems kind of obvious, but I think when you're a new trader, there are so many things to pay attention to it's honestly hard sometimes to look at everything and I'm starting to see the trends the the chart patterns a lot more clearly by taking everything off. I'm looking at less and trying to look at it more deeply for sure.
um you know and just kind of identifying the trend here LGHL you know of course it didn't have news popped up before 7 and gone Well, I keep my whatever chart I'm trading on, I look at usually the one minute, sometimes the five minute, and then I'll just flip to the daily. Okay. Um I used to have all the charts up at once. I had the one minute, the five minute, and the daily up, but everything was getting cluttered and I was starting to get confused. So, what I'll do is if I see something I like, I'll check the five minute time frame for like multi-time frame alignment.
And then I often check the daily chart for windows and gaps. So, for example, let's look at this one here, the high of day. What I like to do is I like to put my price level here. Okay, so I'll say, okay, this is the current high. I'm not going to trade this because obviously it's made a complete round trip, but just for an example, I'll flip to my daily chart and then I'll say, oh, look, okay, there are definitely windows.
Look, there's a window over here up to $2. There's a window here up to $927.
So, if it's reached that level before, it might be more likely to reach that level again. I used to have my 200 simple moving average or the 200 exponential moving average on my daily chart, but right now I'm I'm stripping down my chart so that I can really focus on price action. I'm sure I'll put some indicators back on at some point. But, so I mostly watch the one minute, the five minute, and the daily for small cap momentum. and I trade on the one minute.
I have traded on the 10-second chart um for micro pullbacks, but I'm kind of putting that off to to the side right now because I don't have access to a 10-second chart right now. And um I know there's a way to set it up in Thinker Swim by ticks, but I haven't done that.
Um, so yes, that's that's pretty much what I look at is the fi one minute, the five minute because I look for multi-time frame alignment and then I look at the daily chart for windows and gaps and to get a general sense of what's going on with the stock. But this one I'm not going to trade because it's uh made a complete round trip. I'm looking to trade stocks on the upside, not on the back side of the move. So now here, okay, I'm starting to get better at watching the charts. And I don't I'm only going to trade something if I see something really good. I had a real bad day yesterday, so I'm going to be really cautious today. I'm only going to trade if I see something awesome. But um here now I'm kind of looking at the trends a little bit more.
You know, trend lines of course are subjective.
So I may draw the trend lines in one place, you may draw them in another. I think that's what makes this part of it more art than science, right? And that's where some people have an edge. I'm hoping that by taking indicators off my chart, I'm going to look at the price action and the trends more closely.
That's Oh, okay. Okay. Thanks, Scooter.
I got to write this down so I don't lose it in the chat. I'm using the Zenu uh scanner. Was that you that told me about it? Someone here told me about it. And that's what I've been using the last week because um I was using Warrior Trading Scanners and they're great, but I'm not consistently profitable and it's kind of expensive. So, I was sort of I you know, I put I created some of my own scanners on Thinker Swim, but um didn't do as great.
Okay, price and volume. So yeah, I mean the volume bars I might put back on. Um I did hear a lot of like because I I asked this question on Reddit and a lot of experienced traders did say to me that that's something that a lot of tra happens to a lot of traders over time.
Honestly, it was more because I was overwhelmed.
Um I just felt like I was missing the fundamentals.
I was watching VWAP, 9 EMA, 20 EMA, 200 EMA. Um, you know, starting to look at RSI, everything. Okay, great.
Thank you, Scooter. That was you. I've been using it. It's great. Um, Finn Biz, let's see. Um, oh my god, Yahoo Finance. I've been using Yahoo Finance.
I was using Yahoo Finance for my long-term investing research way back in the day. So, I got my MBA in 2002 and I wanted to try trading. So, when Erade came out and all of that, I did try a little bit. Um, and of course, I was using I had a um, you know, a portfolio on Yahoo Finance and it was so fun.
Um, so yeah, I'm just kind of looking to see what's popping up. But yes, that is I'm a big believer in sticking to the fundamentals and I I realized that I was not doing that. So to force myself to do that, I have uh pulled all the indicators off.
Okay. So again, new trader here, but I'm looking here. We've got first we have a trend line moving up and now it's kind of moving sideways. So, not being a genius, this is like, oh, okay, momentum, momentum, momentum, and then it looked like it started to trend sideways.
So, we've got upward trend, pullback, So now I'm wondering there's a flat top here. See this is where I start to think about price.
Does anyone know if there's a way to put like little drawing tool shortcuts? I keep having to flip between my two favorites.
I feel like it's costing me time.
So, I see some resistance, potential resistance here, you know, because it's moving up, moving up, moving up, and then and then I would look at the daily chart. And again, I don't this is just me riffing here. And so definitely well, this right here, this right here is a huge window, but it's a big red candle. So that's not great, right? So, that's what I'm looking at when I'm look I'm trying to look for it when I look at the daily chart, not just the 200 simple moving average or um like I said, I'll probably put some indicators back on at some point, but it's been very helpful to just look at the chart and see like what am I seeing right here? I'm seeing. Okay, this is the high today. And look at this candle. And then it went all the way up to 243.
But there's a downward trend, right?
So now, yeah, this is turning into resistance.
So yeah, that's kind of where I'm at in terms of, you know, really just trying to analyze the chart, look at the price action, understand what's happening, look at the tape. I've spent a lot of time tape reading this week and that has been an eyeopening process for sure.
Um, yeah, this is a little cheap for me, but honestly, the price action pullback, pull back. I don't know if you could say this is a pullback here. And now it looks like the price is consolidating sideways. So now I'm seeing some resistance here.
Maybe this is what you were saying.
Was it flip-flop was saying um you know people are trying to get trying to dump uh SBFM. They might be bag holders from this day, right?
I mean, look at this. This is terrible.
It opened here and it closed here. So, it shot up, shot up, and then, you know, this is so erratic.
So, yeah, that's what I'm seeing now.
Maybe someone might feel good about trading in this channel.
But that's what I'm I'm kind of really focusing on is what is the chart telling me? What is the tape telling me? Because so I posted my midweek check-in on Substack yesterday and it was definitely a more subjective, less data based post because um it's hard to quantify improvement in tape reading other than the results, right? But um I do think that the tape reading has made a big difference for me in spite of my big loss yesterday. Um I do think the tape reading has made a huge difference.
But yeah, relative volume, everything's pretty low for relative volume right now.
So, let's see. Is anything else popping up? No, really. This is kind of like the one to watch right now that I can see.
Let me see.
I'm going to look at Thinker Swim's pre-market. Um, they have their own pre-market Movers watch list.
WHLR.
I've traded that before. ATPC.
L I M.
Nothing's really trending up. Oh, I must have been looking at ELF at one point.
Yeah, pretty quiet, huh?
So, I mean, SBFM, they do have good news. They have a catalyst today, but Yep. Look at that. Oh, I'm so proud of myself. Okay, so I'm really proud of myself for seeing this as it was forming.
Um because I saw these I saw this little flat top forming. Now I usually love flat top breakouts, but it didn't break out. It pulled back, popped up, tested this level, and pulled back.
So proud of myself that I saw that.
This is the kind of thing that I'm hoping will improve by taking everything off the charts. So, FlipFlop, I'm curious. When you said that you don't use anything except the chart and the um volume, do you use level two? Do you use the tape? And when did you kind of strip everything down or have you always been a minimalist in terms of what you're looking at?
Drop some wisdom on us. I'm curious.
I'm sorry for all the experienced traders that pop into my chat. I feel like I'm always trying to like suck knowledge out of you, but um you know, I'm a big believer in listening to the wisdom of people that do it.
I I know we all have to come up with our own strategy. Like I I dou I'm not I think it's like terrible idea to like shadow trade somebody or to just you know, but everyone starts somewhere.
Like I started following Ross Cameron's strategy. So I'm seeing a lot of topping tails here. So, this might be that downward pressure that you were talking about, flip-flop, because of people holding bags from the other day.
That's what I'm seeing. I'm seeing a ton of topping tails here.
And these are like smallbodied candles with topping tails. And look, the candles are getting smaller and smaller and smaller. Well, look at this. The green ones at least.
So, Xanadu would have been a little pricey for me anyway, but I'm glad you got a trade on that, Eligos. So, See, is there anything else?
Yeah, Wheeler.
Whr.
Wheeler. I think I've traded this before. It's hard to borrow. Wait, what do they do?
Maryland Corporation that focus on owning and operating incomeroucing retail properties. Okay.
E.L.F. is up. Okay, so I use their makeup products.
Like I use all E.L.F.
I just got some new stuff. So I use all their stuff.
It's it's it works and it's affordable and it's vegan. All right. So, um let's see.
Uh, does anybody else get excited when they see the ticker for a product that they use?
What's bees?
Let's take a look. Okay, I like this price range. The $2 to$10 price range. I like that.
Yeah. So, I don't know. I' I think I think that that might be the uh the volume bars. I might tape is lying to you and a sharp reversal may be about to happen. Tape is lying to you.
Interesting.
Okay. Why is that? That is interesting.
Is that because some of the orders I mean some of the orders that are filled don't show up on the tape at the time the order is filled? Because I know that Yeah, level two is definitely tricky.
Level two, I tried trading without level two the other day because I was like I mean the orders are just popping on and off. I was like, is this really going to help me, you know?
Um, okay.
Yeah, I mean I think if I add one thing back, I was saying before it was VWAP, right? Because I was thinking volume weighted average price, but last night when I was looking over my trades, I'm like, I don't think it would have helped me.
Um, so yeah, volume might be the thing that I might put back. That's kind of become the top contender.
um because volume is what's driving the price action, right?
And I do like to see when the like you said price and volume moving together that that helped me so much with trades.
So, yeah, I think it's really hard to get the volume just from watching the tape and watching the orders. That's like next level. Um, and I'm I'm realizing there's limitations to it for sure.
Yeah, I've just I've just heard a lot of experienced traders are like, "Yeah, I took the indicators off."
So let's see BESS they have news by Mergin to sell 480 MW's portfolio of battery energy storage system. All right. They are hard to borrow.
Um, low float. The volume is pretty low, but their relative volume is almost five times.
Good morning, James. No trades yet. Just watching. I'm really going for quality today to try to recover from yesterday.
Read VSA volume spread analysis by Wyoff if you really want to understand more.
But honestly, there's only a few things.
Oh, he wrote a book on volume spread analysis. See, I'm already a Wyoff fan girl. I'm reading studies and tape reading right now. So, I'm going to put that on my list.
ATPC that is oh okay so interesting I don't have VWAP on my chart right now but just again just looking at the chart I'm like yeah there's clearly it's clearly struggling around here right broke over this level.
It's really struggling to move up without knowing where VWAP is.
Um, it's definitely struggling to, you know, a lot of times. So, right here, this could be like support, right?
Maybe that's resistance.
Yeah, I'm just I'm really just um looking for an opportunity, but I haven't seen anything yet. Eligo's got a good trade though on um Xanadoo.
I will spare you all the Xanadoo jokes, James, but you can look at the chat.
This is all I have to say.
All right. So, yeah, I'm okay. So, again, this is like me just learning, right? But when I looked at quy, you know, I drew these channels and again, trend lines are very subjective.
Okay? But then it broke the trend line.
The trend. it broke the trend and not in a direction that I would want it to if I were going to trade this to the long side. Okay, now it's kind of trending sideways. So, this is the kind of stuff I'm really trying to dial in on right now. Um, same thing with SBFM. There was an upward trend and then I saw these flat top candles. I said, "Oh," and then it tapped this level. I said, "Oh, is there resistance here?" And now look, it's even broke below that. So now this was maybe support and it'll probably become resistance, right?
Uh I'm just keeping an eye on Nvidia just because because the earnings last night bees popped up but the the total volume is just so low. I mean, the relative volume is almost five times, but the total volume is just so low. It just can't.
There's not enough enough going on here.
Look at how slowly like the tape's not even moving.
Looks like it looks like it's broken.
So, has anybody else taken trades today or just illeg?
Okay. So, let's see. Oh, okay. Okay. So, yeah, it's really struggling above that level. So, to get above that level, I mean, I would look at this maybe another way instead of because I don't have VWAP on my chart. I might say, "Oh, it's struggling to get over $4."
That's without knowing where VWAP is. I would say, "Oh, it's struggling to get over $4."
But last night I last night I put um you know I went through my tra well every day this week I went through my trades and I put the indicators back on so I could see where they were when I made my trades. It was kind of eyeopening to be honest. VWAP would not have helped me. It was very confusing. I took some good trades when I was below VWAP and I took some bad trades when I was above VWAP. So yeah, at ATPC right here, but I'm looking at the chart. I wouldn't take this trade, you know.
Let's see. How's Bitcoin doing today?
Bitcoin and Ethereum. So you traded Bitcoin and Ethereum. Okay, great. I don't day trade Bitcoin. I just um Oh, you took a trade, Herb. You took a trade. 16 cents per share. Woohoo. Nice.
Nice. Where did you get that? Down here or let's see here. Was it this run right here? This leg.
Nice. Nice job.
I didn't get that at first. I thought you were saying it gained 16 cents, but you're saying you gained 16 cents a share. Awesome.
Okay.
Yeah, I do I do have some Bitcoin. I trade it for the long side, but a lot of people day trade Bitcoin now. A lot of people. I know someone um at my gym that trades day trades Bitcoin. Um, lot of people are doing that now.
How do you like having a prop account?
Does anybody else do that? I've heard I've heard so much about it.
376 to 392.
Oh, okay. Awesome.
Awesome. Good job, Herb.
376 here. So you got in here up to 392.
So why did you get in here? I would have Okay. I I'm new, right?
So here's a pullback. Oh, right now is ATPC.
Uh this is a choppy looking bull flag to me.
I mean, this stock looks choppy to me.
This isn't super clean to me. It's It dropped real fast, popped up. It's pulling back. I mean, yes, you could say this is a bull flag, but I think it's really choppy.
Um, I don't I feel like it's too choppy for me, but if you look at the five minute, it might be more clear. So, I don't know. It's not that clear. I see a lot of topping tails. So, but now I wouldn't be surprised if it's we saw some resistance for it going over four.
Yeah, this is like really uh choppy looking to me. I I'd prefer this looks a little bit cleaner to me, you know, where you have more red candles pulling back. I don't know. This doesn't really look like a bull flag to me. It's pulling back. Yes.
But let's see.
This to me looks like a clear bull flag pullback. It's like you have the pull, it pulls back, and then it runs up. This to me looks a lot cleaner than this. This doesn't look like a real bull flag to me.
I'm not profitable yet either. I'm a new trader and I won't consider myself beyond new until I'm consistently profitable. But, you know, yeah, it and that's the thing. That's why we're we're doing this, right? You got to practice.
Nobody's good at anything right out of the gate. That's just crazy. I mean, I guess there's people with pure talent. You're welcome. I think there's people with pure talent for sure, but hard work and persistence beats talent every single time. I coach athletes at night um and on the weekends and I've seen lots of people with talent come through and they don't really go anywhere um because they don't have the work ethic. And of course, I've seen people with, you know, minimal talent to start far exceed people with talent because of their work ethic. Um, if you have both, wow, you're blessed, honestly.
Yeah. I mean, well, you got lucky on that. That's great. I mean, that's all of our goals, right? Is to try our best.
I took some I took a terrible trade yesterday. I made had a max daily loss.
That's the goal is to try to really first of all when we're new the problem is we're struggling to identify what is an A setup, a B setup, a C setup. That's I think the first hurdle. It's like we don't want to take bad setups, right? I mean, we all want A+ setups, but someone like FlipFlop who's been doing this forever, or Wayne that's been doing this forever, they are looking at the same information we're looking at, but they're able to dial in and right away say, "Oh, that's a good setup.
That's not a good setup." You know, we're still learning what does that look like? Um, you know, now what I do is if it looks choppy, I like to look on the five minute for confirmation. And that this still looks choppy to me. I mean, yeah, it's kind of a pullback or whatever, but I want to see it look clearer on the five minute, not less clear.
You know, the five minute supposed to filter out noise.
Yeah, me too. I mean, I have the problem is I have some some of my basic setups and then I tried branching out into the opening range breakout this week. Um, not loving it. I don't like the amount of risk I've been taking on. Um, I really got burned yesterday.
So, the thing is one person's a setup is another person's B setup, right? So, we have to practice enough that we figure out what's our A setups.
Ooh, R Y O J. All right, let's see. R Y Y O J.
Oo. Okay.
So interested.
Let's see.
Let's keep an eye on this.
So you're in at 395.
So you're in here.
So right now you're green.
So this is where flip-flops in for shorting though, guys. Shorting. This is a short.
I mean that is a good strategy.
Lots of stuff pops up at um in the pre-market and then just makes a round trip.
Okay.
Okay. Yes, you have to get the shares.
You have to borrow the shares, right?
And then short it. I'm I'm way too scared to short stock. The idea of unlimited loss scares me, but you're very experienced, so that's a different story. Once you're really, really experienced, I think that that's, you know, I also think it's good to understand how shorts work because it really helps um it really helps understand the price action.
So, you tried to get in. You tried to short up here and you were able to get in here. All right. Well, I'm rooting for you. I hope it tanks.
I mean, at this point, I wouldn't trade this anyway. So, and that's why you're in it shortening it. Took half off at 325 for a 70cent gain so far. Awesome.
What? So you took half off the table here.
70 cents a share. That's awesome. So you have a strategy that you have really, really dialed in. That's awesome.
And you're doing something called scaling out, which I'm not doing yet. I'm not scaling in and out of trades yet. I've tried it, but I'm still kind of one one like one in, one out. One sale in, one sale out.
Jeez, guys, it is crickets around here today. Um, okay. And then with SPFM in terms of chart learning, the support here became resistance.
So this chart honestly is like really really it's clear momentum up now it then it started trending sideways so that's indecision now it's trending down back side of the move borrowing info info and weeble I' I've been trying to use weeble but I just don't like it I want to trade between four 7 a.m. Eastern Standard Time, but I just don't like Weeble.
Um, but yeah, just be really careful if you're new. Shorting stocks is really risky. Flip-flop has years of experience, so you can have an unlimited loss with shorts, okay? With with the worst that can happen when you're trading to the long side is that you lose all your money. The worst that can happen if you're shorting stocks is you can lose more more than what you have and then you owe the broker.
So, you don't want to do that if you're new. Uh stick to the long side. But, you know, for experienced traders, I think this is like Look at that.
Wow.
That's amazing. That's more than a dollar a share right now.
Yeah. Well, if it's easy to borrow, you know, that means it's going to be cheaper to borrow those stocks, but still, you know, unlimited li unlimited risk.
Uh you can completely destroy your account in one trade. Um like okay so flip-flops really experience but what if this had all of a sudden flipped to the long and driven all the way up.
It could go up to 20 bucks a share and if you're shorting it h you know but look at this a dollar and a half a share. Wow.
Um I don't how do you find well on Thinker Swim if you go on the chart right here it'll tell you hard to borrow or see here hard to borrow. So right now R Y OJ is hard to borrow but like Nvidia is easy to borrow. Now that goes by broker Herb that goes by broker.
Wow, that's amazing.
Flipflop.
A135 a share.
Wow.
So, it looks like it's rolling back up.
Are you going to um Oh, just to find out, every broker is different. So, what broker are you on, Herb? I'm on thinker swim. So if I go to my analyze tab, it'll say at the top HT HTB is hard to borrow and ETB is easy to borrow.
Now, I will trade stocks that are easy to borrow, but I just want to know if they're easy or hard to borrow before I get into the trade because um I don't always Okay, so yeah, I'm not sure on Weeble.
I haven't figured that out yet. I'm still I don't like it. I'm trying to like it. I'm trying so hard to like it.
If anybody uses Weeble and you know how to find easy to borrow, hard to borrow shares on Weeble, can you post it in the chat for Herb so that you know and then we can all know because I don't know.
Yeah. If anyone knows how to find that information in Weeble, let us know.
Look at that. Wow.
A dollar and a half.
So again, um I am not experienced enough to short stocks. Okay, I'm not even consistently profitable as a long trader yet, but that's the downward trend, right? And now it looks like it might be It might be hitting a little resistance here at 239. So, if we go to the daily chart, this is where flip-flop got in. This is where I'm seeing a little resistance, but look, look at how much lower it went. So, it has room to go lower potentially.
This doesn't have specific news, but let me see what it says on the Let's see. It says, whoops.
R Y OJ. It just says that the the shares went up. It just says that the shares went up. So, Oh, thanks, James. Okay. A blue arrow pointing down means it's shortable.
Okay.
Okay. So, you didn't look at level two or taper any of that. See, look at that.
How flipping simple. I love it. Okay.
So, you just looked at the daily chart.
Okay. So, let's look at the daily chart.
All these red candles, right? So that means that if it closed here, it opened here, popped up, rolled over. Opened here, popped up, rolled over. Open here, went down.
One hour candles.
You trade on one hour candles.
Oh, a one hour chart. Okay, I see. So let me add a one hour chart. Let's see.
So intraday 1 hour.
Yeah, thank you, FlipFlop. Thanks for like giving us a chance to see how you um what you're looking at. That's awesome.
Very educational.
I mean, honestly, hearing how you are doing the shorts is helping me understand the long side more.
So in Think or Swim, they're hard to borrow, but this is such a great discussion.
Zoom way out.
So I don't know how to I think I only have one day on here. Like in order to zoom out, I would have to change my time frame. So I would have custom no daily time interval um see how do I do this time interval daily maybe it's intraday if I did like five days with or I'll do let's see I'll I'll do 30 days with an hour.
Okay. Um Oh, but that's because it's showing extended hours.
I know there is a that's the thing.
There's a delay. Yeah. It's crazy because, you know, I'm talking and then I see on the the video.
Um, this is showing the extended hours.
That's why it's like striped like that.
But, um, see, there's more than one way to get to the top of the mountain, guys.
So, now it's popping back up a little bit, but did you complete your trade flip-flop?
Trading view. Oh, okay. Trading view. A lot of you use Trading View.
Do you have to pay for that or is that like a free resource? I've heard a lot of people say that they use Let's see.
Oh, I guess I do. I have a Do I have a login for Trading View?
Um, I know. Yeah, there's a way to, um, maybe as I get more advanced, I'll, you know, kind of explore other options.
There is a way, I think, to post it in the community tab. You can post a picture in the community tab.
I have to climb one mountain at a time.
Flip-flop.
But I'm going to try to I'm going to try to figure out ways to do that. So, Trading View is like I think I just signed up for the free version. Is that what I just did?
A lot of you guys. So, what do you use Trading View for? Like charts and stuff like that.
Just trying to simplify my I have too many tabs open here.
Okay. Okay. Okay. Cool. Yeah. Okay.
Yeah. So, you scaled out, you know. I don't do that. I have tried that, but I I I don't think I'm experienced enough to do that yet.
In a year, let's see what I'm doing.
That's one of the things that I really was excited about doing the live stream and the recaps and everything. Um because I want to see the progression.
Okay.
Okay. Hey, Gus.
Awesome. Okay.
I use um I use trader view to track my trades.
Okay.
So, you use trading view for your charts and then you what just execute in your broker window. Like I've been using Thinker Swim for my charts and you can set alerts here too, but like so for example, I don't know. Let's say I wanted to set an alert when it pops over this level here. Um Whoops.
Why does it keep doing that? It's saying I want to remove. Okay.
Create alert.
You can create alerts here, too. But a lot of people seem to like Trading View.
So, I'll have to check it out. There's so many things to check out.
Wow, we have quite a group on today.
For those of you who are new, welcome. I I see there's a lot of people on today.
Um, I actually have not taken a trade yet today. I had a blood bath my last trade yesterday, so I'm being very cautious, but also it is slow. If I see something quality pop up, I'm going to take it for sure. I just haven't seen anything that looks great to me. Um, QY was kind of running up, but I I thought it was too choppy for me. Um, and now it's trending out.
SBFM again had a run up and then it started to go sideways and now it's trending below this level here of support.
Uh, one of our viewers got a good trade on Xanadu, but that's also trending down. That's a little expensive for me.
I'm trying to stick to between Well, I'll trade things over $10, but ideally I like trading between$2 and $10.
That's my ideal price range.
I mean, managing settled funds is going to be less come less of an issue in just two weeks, right?
Um, so I will be flipping to a margin account and um, so yeah, I'm just kind of watching what's going on in the market and kind of keeping an eye on things.
Um, but it's been very slow. Let's see what else is popping up on Thinker Swim's pre-market movers watch list. Um, ATPC is still hasn't broken $4.
Okay, let's see.
Limn popped up.
This has a higher float. Well, shares outstanding is 80 million.
Relative volume is high on this one.
This has high relative volume, but this is a I I don't generally trade penny stocks unless I see like really really really good price action.
But here we have a pullback, a little micro pullback, a pullback, a pullback.
So, um, I've been really trying to really watch the chart action, the price action, and get good at that. So, for those of you who are new to the chat, this week I am basically experimenting by I took all my indicators off my charts. I'm really trying to work on analyzing the price action, tape reading, and level two. Probably put some indicators back on at some point, but um I just really want to get get good at this Yeah, I have other stuff in that account though. So, the P&L won't be accurate.
So, yeah, that's why I don't keep my P&L up. But, I haven't taken any trades today. So, I just every time I trade, I update everybody. I got to get like a little just put like a little sticky note up here with my, you know, how many trades I've taken and what my P&L is. I keep saying I'm going to do that. Um, okay.
Yeah. Yeah. I don't Yeah. So, the P&L isn't isn't accurate. I have other stuff in that in this account.
But um but once I sell off the other stuff, then I then that will make more sense for me to just keep the P&L number up here because then it will truly reflect what I'm doing for the day.
Oh, that's smart flip-flop. So, you've reduced your risk. So, to kind of flip-flop, took a trade, entered at 395, scaled out, and only has 20% of the position left. Okay, awesome.
This is a great discussion.
Um Let's see.
Just going to try I'm going to make see I'm going to get a little sticky note app here.
Oh, why is it so hard to find a sticky note app? Okay, I'll have to figure that out later. Um, all right. Let's see if there's anything else that's popped up.
No, it's kind of slow.
Oh, thank you. Okay. Oh, is that what popped up? I saw an email pop up. Okay, let me check that out.
Let's see.
Here we go. Oh, awesome.
Okay, thank you. So, this is the one hour chart going back months. Okay. And then you looked at different points and that's how you came up with your reasoning to short.
Awesome.
Thanks, FlipFlop. That's really helpful.
Because hearing kind of like what your reasoning is, I mean, it sounds like it's it's simple but not easy. Is that accurate?
Is that accurate? Simple but not easy.
Yeah, no trades yet today. It's halfway through my trading session. Honestly, maybe it's the universe stepping in because I had such a tough time yesterday with my last trade.
All right. So, SBFM broke over this point level of resistance and it's climbing back up towards high of day.
Relative volume is low but low float I hope I did this calculation correctly.
Let's see. Customize.
Well, let me open it up.
Average volume period day 50 multiple round volume period average volume one.
I think this is the right think script.
So, if this is correct, this would be multiples of the 50-day average volume.
Well, I think all trading is sitting around doing nothing, waiting.
I think that's pretty clear from today.
I'm just kind of sitting around doing nothing. All right. So, SPFM did break out over this level of resistance. It's climbing back up towards the high of day, but um I don't know. It's got low relative volume.
It's choppy.
It's not like super clean price action to me, but Has anyone else traded anything today?
Today's been crickets. All right. and Nvidia, you know, we had earnings news last night.
But um this was the earnings news probably coming out right right here.
This was probably the earning news. No trades, HG.
Yeah, gotta be patient, right? I mean, it is just a lot of waiting, honestly.
Uh, and you know, it's kind of killing me to be so patient because of course, I want to just make my money back. I had a max daily loss yesterday and I just want to make my money back and forget it ever happened. But that's not going to help me to just jump in and trade recklessly.
Oh, okay.
Dunk time. Are you a basketball player?
I only trade the S&P and QQQ. Okay.
Okay. Yeah, a lot of people do that. A lot of people do that. So, let's see what the S&P is doing today.
So, you're you're waiting around too, right? Because like you're either having a good day or you're not, right?
Woohoo. You traded architect. You traded SBFM at the top.
Took $25 and escaped. I like how you say that.
And escaped.
Okay, cool.
I mean, honestly, this would have been a good one. I guess this pullback here because I saw this potential flat top breakout forming, then it pulled back. This is the kind of thing I would normally trade, but I'm not like I don't have a great track record with penny stocks. So, um, but $25, that's great.
I mean, this would have potentially been, you know, five cents a share here.
Yeah, I just don't do great on penny stocks. That's the problem.
I know for everyone who had like accounts when they were like kids, when they made accounts when they were kids, it's like a whole bunch of um handles from the 90s and stuff.
Okay. So, you tend to trade at market open more? I do like pre-market, but I'm trying to get braver about market open, but I'm just not I'm not catching it right, honestly.
Really, really dead. Let's see. Um, yeah. So, I'm thinking SBFM might try to go for high of day, but I mean, they do have good news.
generic and specialty prescription medications is pleased to announce the approval of its generic amoxicylin formulation for the Canadian market. For those of you from Canada, this strategic expansion reinforces Sunshine Bioarma's commitment to providing affordable, high quality antibiotics to patients across Canada.
That's a sweet name, Sunshine.
Oh, it's kind of cute. All right.
So there's another pullback pullback on SBFM.
So there's a let's see it's a high here.
Pull back to this level.
There might be a breakout here.
Look, it looks like it's trying to reverse.
This would be the low candle, but it's only like three cents a share.
And I just doesn't have high relative volume.
Oh, I think it's trying to make a breakout, but I don't know. Three cents a share.
I'm watching the tape. Um, red, red, green. Okay. 555.
I don't know. This topping tail makes me think it's not going to break out, right?
I thought here, yes, but now look at this. It's going to go lower.
I thought maybe there's a breakout there, but I don't think so now.
NIVF. Let's take a look. NIVF.
Wow. A lot of penny stocks, huh?
Okay. They have news.
says they entered a strategic agreement.
That's a runup.
Okay, let's see. They are hard to borrow.
Really low float.
Okay, relative volume is only 0.3 though.
If my relative volume calculation is correct, it's still low relative volume.
Um, so we've got a high up here at 135.
Oops. Let me check the daily chart.
Oh, wow. Look at this. I had a I must have been looking at this at at one point.
There's like a a drawing on here.
That is so funny.
Okay. So, yes, there is a window back to Wow. Oh, but that's probably like a reverse. I mean, a split or something like that.
Um, all right. Let's go back to the one minute chart.
All right. So, it's forming a pullback.
Looking at the level two for big orders on the ask.
I mean, if this is the low candle, this offers potentially 15 cents a share if it goes for high of day.
You couldn't enter at 88 cents. Okay. It didn't catch your order or you just missed the move right here. You were trying to get in here maybe for this move. So now it's pulling back.
Oh, okay.
Wow. Flip-flop. Woohoo. That's amazing.
Well, we're always going to feel like we left something on the table, right? It's like Good job.
I got to get my emoji game going here.
Good job, flip-flop.
So here we have a potential move of 23 cents, but Yeah. Don't we always feel like we're leaving money on the table? I feel like I'm doing that constantly. But that is an a killer uh trade. Flip-flop.
Killer trade. Oh, it looks like it's popping up. Maybe. Is this a I am feeling like I want the volume bars.
That's the one thing that I feel like I want back on my chart because right now this that's what would kind of if I had the volume bars on my chart and they were going up here and then pulling back here and then popping up that would give me confidence. So, I'm kind of I'm gonna look.
Let's see what happens if I I just want to see what happened with volume.
Um, trying to remember where I put it.
Equities show volume subgraph.
Let's take a look. H blue. What?
There we go.
Okay. See this? Yeah. So this would have been a little bit this this pullback's good. But so the volume would have given me that maybe extra confidence because when I saw this volume bar go up on this breakout that might have given me extra confidence.
Yeah. I mean, I know it sounds crazy to strip everything off, but I was getting very um getting very distracted by everything other than price action. Um, but I think volume bars are going to be the thing that I put back.
I thought for a while it'd be VWAP, but nope. Volume bars are the thing, I think. Maybe we'll maybe we'll keep them on today. That's the one thing I wanted to see. What did I miss?
And honestly, I didn't miss the 90 EMA.
I didn't miss the I mean, I kind of thought it would be VWAP, but the volume bar is the one that I really miss.
Does anyone else look at relative volume?
Yeah, I I was getting so distracted.
architect like I was watching that the indicators instead of looking at the price action.
Yeah, that's um that's kind of where I I thought I was headed. But the volume bars, that's one thing that I feel like does help me.
See right here, the price is going up, but the volume is going down.
So, is that going to confuse me or help me?
I don't know.
Yeah, I don't like having so much stuff on the I don't like I I was had I had too many things going on. I was like, let's take it off now. Like for example, if I if I put VWAP on here.
I'm getting so curious.
I really don't think VWAP would have helped me.
See, it's above VWAP, but I took trades yesterday that were below VWAP, and they were good. So, I'm gonna I think VWAP is giving me a false sense of security.
But, um, all right, I'm going to take the volume bars off for now.
That'll probably Whoops. What happened?
That'll probably be the thing that um minute. Where did my chart go?
How do I get that off?
Okay.
Huh.
How do I get rid of that?
I guess the chart doesn't want to come off.
Yeah.
Yeah. That's the thing. I I when I looked at my trades over the last week without and I like after I was done trading I put VWAP back on the chart to see where my trades were and honestly some of them were um you're trying to hit the X on my dialogue box.
Oh.
Um, look at this. It did go for high of day and they have very good news. up.
But why is this only showing volume?
That is really strange.
All right, I guess I'm stuck with it for now. All right, so we'll leave volume on there for now. I guess I'm stuck with it. Some traders use VWAP just to filter out trading completely if below. That's what I was doing. I was saying okay you know below VWAP no above VWAP yes and I think I was not looking at the price action like right now it just broke high of day and remove this.
All right.
Well, this would be um potentially a no trade day if uh nothing starts to pop up because we're coming up to almost 900 a.m. and I haven't taken one trade today. I had like seven yesterday.
Of course, my last trade I never should have taken. If you watch my recap yesterday, I never should have taken that trade. That was stupid beyond belief. Maybe I'm being overly cautious today. I don't know.
So, SBFM is now kind of trading in this channel. Let's see. This is support.
R Y OJ, we can you're out now, so we can stop looking at that. But wow, it did go lower, huh? Yikes.
You called it, flip-flop. You called it.
That was a great trade for you.
Quy, nothing happening here.
So now we've got another pullback potentially.
This looks like it might be a pullback on the five minute. So if I look at the five minute Yeah, look at that.
That definitely looks like a pullback on the five minute.
See what happens when I just make the volume very very unobtrusive down there. Okay.
So, yeah, that's a pretty far pullback. That's more like a pullback on the five minute.
And look, it's almost down to the end of the beginning of this move. So, yeah, I don't think there's anything wrong with indicators. It's just that I was not looking at the stuff I was supposed to be looking at.
The indicator should be like the icing on the cake, not the main thing, you know, but you know, watching the tape has been so educational, you know, just kind of watching the flow of the tape, watching, watching, watching.
I'm starting to be able to take in the price and the size of the order and look at what's on the level two.
23,000 16 20,000. These are big orders on the level two.
Orient.
It's been a really slow morning for me.
O R I S. Oh, okay. All right. Popping up. Popping up.
Hard to borrow.
Uh 5 million outstanding shares.
We've got a high a day up here. Another penny stock.
So, I'm going to look at the daily chart and I see that there's definitely a window up to 139 and then went up to 190.
So, I'm going to come back take a look.
This looks like it might be a good candidate for you. Flip-flop.
Feel like this is Yeah. Okay. I'll short if over a dollar if we get there.
Got it. because you need to have room to drop, right? Okay, you got the locates.
That's so exciting. I like seeing what you're doing.
O R I S.
Yep. But architect flip-flop is short looking to short this. So that's different than Yep.
So, we're on the one minute chart, guys. I put volume on, but I put it on one color so that I can just see the size of the volume bar, not necessarily the color. I'll look at the color of the candles. I think that was something that was also distracting me. But maybe if I do this, it'll be less distracting.
And I can just look at the size of the volume.
Well, this is pretty much a round trip, so I wouldn't trade this, but so flip-flop, if you get the locates, right? Those are the shares and you don't trade. Is there a cost to you? Like do you have to pay for them or pay for the the right to borrow and then whether you use them or not is that like a cost outstanding for you.
Yeah. So, this would wouldn't be something that I would trade. It's a penny stock. It made a round trip, but you know, NIVF.
Really? Wow, guys. There's like really not a lot going on with momentum today.
Um, we're already at 9:00 a.m. and I haven't taken one trade yet.
Yikes.
It's funny, too, because I came in this morning, of course, fighting that feeling of I just want to make back the money I lost yesterday.
And now I'm kind of sitting with not seeing any opportunities that really look good to me.
Okay.
Got it. Okay. All right.
Okay. Wow, that's so interesting. Okay.
Oh, so in Weeble you can you get them but you only pay if you use them. Got it. Okay.
So NIVF um you know of course it was it was trending up but now I think it might be on the back side. I thought about trying to get in at some point but SBFM still kind of trading in this channel here.
R O R R Y OJ. We can take that off our list because you're done with that trade. Flip-flop. Okay. Q U C Y.
I was All right, guys. I'm going to take a five minute break, get more tea, come back. Maybe there'll be a trade for me today. Um, is a split. Don't try to trade it. Ah, thank you for the heads up on that one.
All right, I will be right back, you guys. Give me like five minutes. Um, I'll see you in a minute. Well, five All right, guys. I'm back. I've got my Royus tea.
I quit caffeine a couple of months ago, but I have Roy, which is naturally caffeine-free, and a mint.
All right. Good morning, TJ.
Oh, no. I'll check that out. Thank you.
Got my notebook. Every time you guys suggest something, I put it down.
And I also write down when I'm taking my trades, I put down my notes so that when I put it into my trader view.
Thanks, TJ.
Any trades yet today? I have taken zero trades, which I wanted so badly to avenge my horrible trade.
CMD just did a split. Interesting.
Is it a split or a reverse split?
Let's see. They're halted.
Clear mind T1 T3. So, I think that's news and let's see.
Oh, cool. I'm definitely going to have to check it out because the opening range breakout has been a fail for me.
Not just because I Okay. Yeah. So, sometimes after a reverse split, they can run up, right?
Um, yeah, not just because my last trade yesterday was a blood bath, but the smaller trades I took with the opening range breakout, I felt like I had outsiz risk. Um, so Okay, so they're halted now.
T1 T3, halt news pending.
T1 is halt news pending and T3 is news and resumption times.
Yeah, because I there I don't think they do trading halts for volatility during the pre-market, right? Just during the regular market hours.
So, if something's halted pre-market, it's generally news, right?
Wow, it's really slow, guys. I don't know if it'll pick up. Hopefully, it'll pick up at market open. Let's look Nvidia. Let's look at Nvidia.
No.
O R I S.
So, I definitely um like this stripped down version, but I think I like having the volume bars on there for now. I also couldn't figure out how to get them back off. I don't know why it wouldn't do it. I'm just supposed to check this box right here.
And it just got rid of everything.
So, I probably hit something inadvertently.
Oh, well, no harm, no foul, right?
SBFM still trading in that channel.
Just simplifying things here.
Yeah, everyone's just kind of waiting, huh?
Honestly, I think we were talking about this yesterday.
Once the PDT rule goes in effect, I think there's going to be a ton of volume in the market.
4 a.m. scanner. Oh, let's we'll have to check that out, too.
You guys are like a wealth of information. Seriously, thank you so much. I love when you guys post like what you're doing and what you're looking at because not everything works for everybody, but like if we pull our information, uh that's going to really help.
Right. I know. What a new time for new traders. It's brutal. But listen, I'm gonna flip-flop. I'm going to say that I think it's an advantage for new traders like me to be starting at this time because if we can learn the game now, I think when the market heats up, it's going to be good.
So, I would rather because what happened to me was I last summer I had some real lucky months. Um, and I know a ton of people that started during the pandemic and they thought that they were day traders and they do not trade anymore.
Yeah, it's like um you know they just got discouraged when they saw Yeah, it's not so easy. Yeah, in a hot market we're all we're all amazing day traders, right?
But um in this market it is hard to learn in this market, but I do think it's going to be better in the long run.
Okay, that's cool.
Under 30 million shares that changes 6% in 5 minutes with 100,000 of volume. It catches everything positive and negative. Okay.
Oh, okay. That's cool. I'll have to check that out.
I ran downstairs and grabbed a handful of mints.
Um, all right.
Yeah, I had warrior trading scanners.
Honestly, they were great, but it's just really expensive. So, I set up some scanners on Thinker Swim using Think Script and what have you.
Um, honestly, I feel like it's not catching what I would expect it to catch.
Um, okay.
Okay. Okay. So, yeah. Yeah. I mean, when I when I get consistently profitable, then I will probably, you know, move up a little bit in terms of the tools that I'm using. So, okay. Yeah, I think I think that really matters. However, to be honest, like I when I watch the recaps with Ross, I'm like, that's we're all trading the same stuff, right? I think it's a lot of it is like, do you like how the scanner presents it? Do you like the information that it's giving you based on your strategy? Right?
Like I honestly do not love the ones that I did through um through thinker swim. They just don't pop with enough stuff.
Just looking at XDY.
Yeah, it's dead out there. Crickets.
I'm not taking up knitting. I refuse.
No, just kidding. I actually have taken up knitting.
That's how I know I'm 55 years old. I have started bird watching and knitting.
All right.
So, um, yeah, NIVF, it did have this run up, but then now it's, you know, well, maybe at the market open, something exciting will happen. That's what I'm hoping.
Um, I'm still going to look at opening range breakouts, but I'm not going to take an opening range breakout trade. Um, I'm just going to kind of monitor that.
still look at that. But I I don't I don't think it's for me, honestly. Not just because I had a big loss yesterday.
But I was feeling like even when I was trading with like one share, I felt like I had an outsized loss. I'm not willing to take on that much risk.
Um I might just stick to my regular setups like um yeah, that's the thing. Um, honestly, I'm finding that um, the Zenu scanner is awesome and it's catching pretty much all the same stuff.
Um, and honestly, like some of the metrics that I started off using. Um, because of course, you know, I started off with warrior trading. I'm still taking going through the classes and stuff like that. I'm I took like the beginner class like four times.
I'm a little type A.
NIVF, I think. So, possibly. I mean, it's it's climbing back up. I also think SBFM is going to try to make a break of high of day at some point. Um, yeah. So, I started off with Ross and um that's the thing. I I you know, again, I like the scanners. There's nothing wrong with them, you know.
It's just um Oh, somebody else sent me their desktop. Oh, cool, Walter. Thanks. Do you want me to post that?
Oh, okay. That's how you have yours set up.
I used to have my one minute, my five minute, my daily.
Okay. Oh, okay. Do you want me to po architect? Do you want me to post that?
Okay. So, let me um let me go to my email.
All right. So this is architect's screen.
So you have your you have two charts open. You have the one day one minute threeyear week chart. Okay.
And let's see. You've got your active trader window here.
Got your level two here. You've got your tape here. Okay. Interesting.
And you've got your watch list over here. Okay. I had I used to have my one minute, five minute, and daily, but or daily, five minute, one minute, but it got so crowded. I was like, so now I just flip between them.
Oh, okay. So, I had a big external monitor, but now I'm trading on my travel station so that when I travel, um, it's not like a big difference. I wanted to be able to trade from different places.
Okay, cool setup though.
It's funny how like, you know, people's eyes go to different places. Like I tried having the chart in different places and I just I ended up having it in the on the right. I just found that that was where my eyes were going. So now I have my laptop and I have my travel um my little travel monitor and they're the same size and I'm trying to keep my format simple enough that I can pick up and travel because I'm going to Vegas in two weeks. I just came back from Prague.
So, um I'm trying to keep my station the same regardless of where I'm I'm I'm traveling to because um it was really kind of a bit of a learning curve when I was in Prague and trying to trade from like I traded from the hotel. I was in multiple hotels. I traded from the um airport lounge. I traded from the airport itself, which was chaos. I wouldn't do that again probably. When I go to Vegas, unfortunately, one of my flights, my flight there is right in the middle of my trading session. So, I won't trade that day.
I'll post a video on like some other content like some educational content for that day, but um obviously trading related content, but you know, not I won't have a a tra trades that day. Um but the other three days that I'm there that are trading days, I am going to trade. I'm gonna get up at like 4 am. So, um yeah, my um after the Prague trip, I decided that when I book future trips, I will take into consideration my trading schedule because that was kind of too stressful in terms of the days that I was flying that were trading days. Um, I already have two trips booked for this year. I traveled a lot over the winter, so I'm going to slow down a little bit this for the rest of this year. But, um, Vegas and I'm going to Thailand in October, and I will, um, so those are already set. But future trips, like, uh, we booked a trip for January, that was booked around trading days, so I won't have to deal with that.
Um, but I have traded on all my vacations since last year, but just now I'm doing it a lot more consistently. Like last year when before I started live streaming, if I wanted to just trade for an hour and then go hit the pool, that was cool. But now I'm being more dedicated about it. So, um, I will be live streaming in Vegas. So, but it'll be dark.
It'll be 4:00 a.m.
Oh, okay. Oh, that's cool.
I I used to take my kids camping when they were little all the time. Um, and of course, my boyfriend hated camping, but everyone kind of wanted to go for like one or two nights this year, so we might we might book something for one or two nights this year. Yeah, Thailand's great. I um I went there in 2024 for a week. Um and then yeah, so we're going to go this time, but this time instead of going through Turkey, we're going through Seoul.
So um yeah, I I love I like Thailand. So um but um yeah. So flip-flop enjoy. You're gonna completely unplug.
Oh, yeah. I love I'm from Boston, so yep. Maine, Vermont. I love camping in Vermont. We loved camping in Vermont. Um and New Hampshire. We'd camp in New Hampshire. Even Rhode Island. We did a lot of that. Even here in in Massachusetts. Um when the kids were little, you know, they're adults now, but but yeah. So, you're going to completely unplug. That's awesome. I think we should all do that sometimes. You know, everyone needs a rest sometimes.
Oh my god, that's so funny. You grew up in Milford.
I grew up in Everett.
What a small world, right?
What a small world.
Yep.
Yeah, we're almost there. Hopefully something will pop up. I mean, I I don't want a revenge trade yesterday, but I would like to get a trade. That would be great. But, you know, maybe The universe is teaching me a lesson.
Front page news in 1984.
Leading them on a chase for fun. Wait, I'm not sure I understand.
You'll have to explain that, architect.
Okay, we might actually let's let's cross our fingers, guys, that we get something at the market open. Um I probably won't trade the first five minutes because I'm, you know, everything's settling out, but I'm going to look for for opportunities and um and we'll see.
Oh, you used to build cars and please for adrenaline. Wow, you really are from Massachusetts.
So, you can relate to the Dunkin Donuts ads that are like with Casey Affleck.
You can't smoke in here. I'm not. You are.
All right, guys. Market's open. Woohoo.
Good luck. All right, let's see what pops up. If anything, if anything, I'll be hopeful.
Oh my god.
I hope you've if you've matured since then. You're older and wiser, right?
Let's see. SPFM, I think, might go for a break of day. It's been sort of in this channel. There's a ton of let's see qy spfm.
Let's see.
SPFM.
Honestly, I don't see anything, guys.
I'm looking at the Zenue scanner and looking at the Zenue scanner and there's really nothing popping up. That's kind of funny because honestly like the fact that there's nothing popping up at market open that's crazy. I'm going to look and see.
Um yeah, US stock futures are trading lower. S&P down. Let's look at the S&P.
So, this is one minute. Oh, wow.
Let's see. One one minute.
Not much. Wow, guys. It's really dead, huh?
All right.
just take a nap. This might be a no trade day for me. That's crazy. Which maybe is good because it really helped me cool off from my loss yesterday. I was furious at myself for my last trade yesterday. But I'm not mad about it anymore. I'm just kind of like zen about it now.
That is true. Even though it's Thursday, it might be that Friday effect. Yeah, that's true, Eligos. Yeah, exactly.
I think that's probably true. I'm expecting tomorrow to be dead. Yeah, I've noticed that pattern, too.
It's good though. We all need a break sometimes.
You know, when I get like when I'm learning something new, sometimes I get a little too obsessed. So, it's good to take a break.
And I have other commitments outside of trading. So Q U C Y is popping up.
Look at Nvidia.
What? So I wonder if NVDL Oops.
Let's look at NVDL.
Wow.
Those are all buy orders executing, right? What?
Wow. Okay.
$3 a share already. Okay.
Wow.
Okay, so we've we're at the five minute mark. I'm not going to do an opening range breakout, but what I have learned from my opening range breakout experiment is that there's a period of time in which the market settles.
and the trends kind of start to establish themselves. I'm not going to trade the opening rake break opening range breakout setup because honestly I don't think it's been working for me and not just because of the big loss yesterday. But thank you. Thanks Flipflop. I didn't feel composed yesterday. I felt furious, furious at myself. And um I and it's funny because I remembered our conversation about, you know, being uh you know, I was saying how I just want trading to be boring. I just want it to be boring. And I was really mad about it. But at 55, if I can't shake it off and get composed again, then I haven't learned anything in this lifetime. So that was my goal is to kind of, you know, really sort of do that.
INFQ.
Let's see. INFQ.
Oh, wow. Wow.
All right. So, I am going to look and just see. I'm just marking it off to kind of get an idea of what's trending, what's not. I'm just learning. But what I'm seeing here is I'm seeing a pullback on NVDL. I wouldn't trade 100 shares of it obviously because I don't have the funds to do that. But I would reduce it to 10 shares and look for a breakout. So let's see.
Reduce to 10 shares and maybe look for a breakout.
But NIVF is also over.
No. N I NFQ. Here we go.
But I'm going to look for real pullbacks on things. Plus, this is a little pricey for me.
kind of want to keep it between. I'd have to reduce my share size. Let's see.
One day. All right. There's plenty of windows.
So, this is the top of the five minute opening range. Now, it's hit a high and it looks like it's pulling back.
But I'm really curious about N DVL.
Oh, I can hear the the recycling truck outside. Okay.
Because of the earnings news.
So, one, two, three, four, five. So, NVDL popped up above the fivem minute opening range and then popped back. It's got a pullback.
But I I would have to trade this with 10 shares.
QY halted up.
Oh, wow. Wow. Everything's kind of like popping up, but I don't really see much on the scanners.
It's kind of weird. Okay.
Let's see. O R I S.
Oh, wow. It did.
It didn't go over a dollar, but it did.
It did dump.
Wow. Good call, Flipflop.
You called it. That's your That's your strategy, right?
Wow, look at that. Huh? Down to 36 cents a share.
Okay, SBFM is still trading in this channel.
Ky is halted. OIS didn't um Yeah, I There we go. Yep. Oh, it dipped and it ripped up.
It dipped and it ripped back. Oh, but now it's it's reversing. This is why I don't like halts.
They're too risky for me.
Okay, there's some indecision. Wait, let me make my tape bigger. There's some indecision.
470 472 474.
Well, that's crazy volume.
NVDL is breaking out on the on the one minute.
That's a long pullback.
One, two, three, four.
Five. This is the opening range.
Okay. I'm going to take CMD off. I NFQ.
Huh.
and IVF tanked. I don't like this big red candle, so I'm taking that off.
Okay, Nvidia obviously too high price for me, but NVDL it popped up, pulled back, started to break out, and then it's just kind of stalling at this level.
O R I S. I'll take that off because I'm not going to trade that. Quy, okay.
So, we're almost at the 15 minute mark.
Yeah, QY has been popping up like every day.
And it has been it's been popping up like every day.
But yeah, it did. And now it's halted down.
And that is one of the reasons why I think I haven't been doing well during the market open. All the volatility the first five to 15 minutes um halts all of that is just you know crazy. Um, okay. SBFM went below this channel that it's been trading in the whole time.
And there's a big red candle.
Big red candle. Yeah.
So, let's see if there's anything else.
No, really. No.
Let's see.
ATPC See what else? L I C N.
Wow, guys. I did not have a chance to revenge trade.
I didn't even have a chance.
I couldn't have revenge traded if I wanted to today. There was literally nothing for me to revenge trade.
Um, so flip-flop to your point about saying, you know, I've got a real pro attitude about the whole loss yesterday. I think, you know, I'm trying to look at this in at the long view. Of course, making money is my number one objective because I want to make this my job, but I'm really trying to keep I'm trying to make my shortterm decisions based on my long-term goals. So, what will help me in the long term about yesterday?
Learning what did I do wrong? How can I avoid doing that thing again?
That's what's going to help me in the long run. So, although I was so mad at myself yesterday. QBTX.
Now, this is higher price than I would normally look at, but I like the upward trend. I like that a lot.
There's only 7 million shares outstanding.
Price is going up. Now, I do have my volume bars on again. So the price is going up and the volume's decreasing a little bit here. There was a breakout.
This is interesting for sure. Wait, I had it on 10 shares because I was thinking of trading N uh VDL, but I will not be trading that today because look, it's just it popped up.
So it popped up above its five minute opening range. Let's see. We're at 15 minutes already. So, one, two, three, four, five, six, seven, eight, nine, 10, 2, 14, 15. So, this is the 15 minute opening range, too. So, it's I just don't know what to do with that information anymore.
I don't like the setup.
SBFM. I'm going to take that off my watch here.
QCY.
Oh, it's back in the It's back in the game. Let's see what happens.
Yeah, that's what I'll that's what I might do just to kind of reduce the jitters. But I only want to do that if I see something I really like. even with one share like I don't want to you know throw quality out the window because it's only one share but yes if I feel nervous about trading I will do that for sure I've gone down to one share before it's like hey that's what you got to do right if that's what you got to do that's what you got to do but I haven't seen anything honestly so quy I'm going to take that off because that's really volatile qbtx X. I like this. We've got another pullback.
I like the price action here. It's nice and clean. It's trending up.
I like this.
I like the trend.
Going to look at the daily chart.
Okay, so there's definitely a window.
So, first pullback, second. So, I don't know. We've had a couple of pullbacks already.
Does it have news? It doesn't have news.
It is hard to borrow.
Oh, it's a leveraged um ETF.
It's a leveraged ETF.
I like the price action though.
I'm looking to see if this has a breakout over 714 712.
So, this is really the low candle now.
This one right here.
Oops.
This is the low candle. But that is a bit of a false breakout.
Right.
popped up for a second, but it's not really like moving moving.
718. Oh, there we go.
I scalped a trade.
I was too nervous. I just wanted a green trade.
Uh yeah, I saw that it tapped my um my target and I was like, I'm out. H I should have let it run. I should have been braver, guys. I should have been braver.
Okay, but I stuck instead of doing the opening range breakout, I stuck to my bull flag pullback strategy and I got nine cents a share. So, I did see it dip briefly below my entry.
It dipped below um and then I thought, uh, I want to get out at break even. Um, and so I said, "Well, now my stop is my entry."
Wow. I really missed an opportunity there to make good money, but I got um 9 cents a share.
So, let me put that in the chat. Um, so it was nine. Oops. Nine cents a share.
Yep. So, I definitely should have let that run, but green is good.
Oh my god, I'm green.
Okay. So, um, yeah, that was not a perfect trade. I should have let it run, but I So, some of you are following. Isn't there a leveraged ETF for that one, too?
Look at this. I could have let this run and gotten like 50 cents a share. It's breaking through high of day.
H I don't know. I got nervous again. But I like high of day breakouts. I didn't let it work.
High of day breakout.
I didn't let it work. But I, you know, I know I'm just kind of that was just a scalp trade, but honestly, I would rather um Woo! Eligos 36 cents a share. Woohoo.
I would rather scalp 10 high of day trades today. 20 cents a share.
You guys are killing it already.
I love it.
I love it.
Ooh. Ooh. QBTX running up.
Oh my god, look at how much money I left on the table because I was nervous.
I was like, I got to take profit today.
Maybe I'm a scalper. I don't know.
So, let's see. That That looked like a micro pullback.
It pulled back and then ran up.
See, now I can see it. It pulled back, ran up.
Now I can see it.
INFQ retesting at the top of the 15 minute.
Oh wow. Oh, look. There's a real pullback.
So So, I'm going to take this off my list because it's trending down. I'm going to take this off my list.
INFQ.
I'm going to take this off my list. So, these seem to be the ones that are trending up right now.
INFQ. QBTX.
Let's see what else is popping up. Niv Oops.
N I V E. Is that what I saw? Says no. Am I crazy?
What was that?
Okay.
Oh, this is breaking out from this pullback.
See, I'm learning. It should go right away. And it's not. It's hesitating.
See, it's hesitating.
So, I I don't I wouldn't like that.
Wow.
He It may retest top two times before moving up. Still watching. Yeah, it could. But it's kind of Yeah.
So, right here, this level of resistance could become this level of support.
Again, I'm new, but that's what I'm seeing. So, now if it's breaking, if it breaks this level, is it on the back side of the move? You know what I mean?
QBTX.
We have a high here.
So now this might be like a flat top breakout potentially.
Wow, guys. I can't believe it's 10:00.
I'm super happy um that I waited and didn't just revenge trade yesterday and I I didn't do anything crazy. I did my two favorite setups. I did bull flag pullback and high of day. I just stuck to my strategy. Um oh look, QBTX might be breaking out.
feel like it's going to try to break over $18 and once it confirms over $18, I think there could be another trade there, but possibly I think it's just going to test that level.
But I will just take my wins and uh if I don't see something that really confirms it.
Yeah. See?
Although I do think it's going to break over 18.
Think it's testing that level. I think it's going to break over 18.
All right, guys. It's 10:00. I had Do I adjust my sell order as it goes up? Um, if I That's a good question. If I like right now, right, if I think there's a potential, I have a tiny green day. If I think there's a potential for it to keep going up, I could reduce my share size um just to reduce my risk so that if I take a third trade and it's red, then at least I haven't really gone red on the day. So, I have done that before, Scooter. Yeah, for sure. See, I Yep.
It's breaking over 18.
It's testing that level for sure.
Okay. Took another trade. It hit my target and I just got out. I saw it at my target and I got out. So, I'm going to say that was a break of the whole dollar. Oh, during the trade.
No, I I'm I'm not scaling in and out like Flip-flop was doing on his short.
Like, I'm just trading at a set number of shares, getting in at that number, and getting out at that number. So, I don't really adjust it as it goes up.
Um, I didn't put a stop. Oh, so that is in my plan, but last night I've been I've been doing a lot of thinking.
The stop loss has really been distracting me. I would get into the trade and then I would be focused on placing the stoploss instead of watching the trade for exit indicators.
So today I had decided that I was not going to put a stop loss on after entering the trade and that I was going to use a mental stop and get out at my um at my mental stop. So that way I would be actually watching the trade. So I didn't do that today, but that was an intentional choice.
So um however it's a risk it's risky having the stop loss offers more protection but the p the pull in my focus was just not worth it. I was getting so stressed during the time I was placing the stop loss.
So that was a break over whole and half dollar and I tried to get out at my first target.
All right, guy. Use a mental stop, but you still need discipline for it to pull. Right. Yeah. And um so what I had been practicing was, you know, right, you need discipline to get out.
Um yeah, I mean, I'm not saying one's better or worse than the other. I think that I just had a very difficult time focusing on um the what was happening in the trade while I was placing the stop loss. Um maybe I'll add it back in at some point, but today felt cleaner because I entered with I still used limit orders. I entered on the ask and I sold on the bid, which is what's gonna happen if you place a market order, but I feel like I have more control over it so that with slippage and stuff. But um yeah, anyway, I could talk on and on for like 15 hours about this. All right, have a great trading day you guys and I will see you tomorrow. Um yeah, we'll be back tomorrow.
Trade smart, you guys. Bye.
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