Today is the second trading day of 2024 and we had some big momentum. Nexi up over 2 45% on no news. Now this is the same stock that went from $2 to about $112 a share at the beginning of December also on no news and got halted on a T12 it resumed 50% lower. It bounced back up to about 758.

This morning it squeezes from about $4 a share up to 750 50. Again, that same level of resistance and just in the last couple minutes, it broke through 750 and popped right to about 867, which was a nice move. Today was a day on that stock where I had the right idea, but my timing wasn't quite right and I'll break down those trades in a little bit more detail: I traded a few different stocks today. Let's see: I traded um, three stocks today.

so I got SAU I got Nxi and then I got um Sassy S AI which was my smallest winner. Uh, but anyway, any I trade these three stocks and overall we had some decent momentum. But you know what's interesting today is on my first trade I made 300 bucks on my second trade I lost 30 bucks my fourth trade I made 50 bucks My fifth trade I lost 70 bucks. It was like by the end of I don't know, it was like 8:30 I was green on three stocks but I wasn't up more than 500 on any of them I was up about 1200 on the day, up 300 to 400 on each of these three stocks and I kind of said to myself, you know, um, regardless of daily goals or anything like that, I was like don't think about that right now because I'm trying to see if I can sort of erase that thinking I said, does this feel like a day to push it and at that moment the answer was no I was like no I don't really think so I think this might be a day to take that profit off the table and just be grateful.

You know, hey, it's another Green Day small green days add up so why push it And that was sort of my feeling at that point. And then we got a couple of stocks that popped up up, gave some nice moves side do so, got a little bit more on that, you know and then things started to kind of open up and all of a sudden Next know I'm up $2,000 3,000 4,000 and I hit a high of 5,500 bucks I gave back a th000 off the top. So I'm sitting at 4,400 right now or right around there 4200 uh, 40, 4291, $ 4,291 and I said, you know what? Uh, this is good, you know I don't want to give back too much more and I think that's exactly the right attitude. So you know one of the things that I was, um, talking about in one of my recent episodes is the importance of knowing when to walk away.

So my kind of rule of thumb is and this also pertains to daily goals because if you have a daily goal, let's say of, you know, $5,000 Well, on a day like today, I hit $5,000 and I could have said oh, I hit my daily goal, it's time to walk away. but I don't adhere to that I've never followed that philosophy of walking away once I hit my goal. My Approach is that if I hit my goal in like two trades, today is hot I should push harder. which is why the daily goal is sort of arbitrary and doesn't really shouldn't really mean anything.

So instead My Philosophy is that regardless of how much I make I generally find that once I've given back half, that's usually a good time to walk away. Now let's say I make $300 and I give back 150. Should I walk away then? well, no, I wouldn't say so. You know.

So being up 300 is not significant enough that giving back 150 is worth walking away. What about being up a th000, you know and giving back 500? No still not really for me. If I I would say my line is probably like, you know, 2500. If I go up 2500 and then give back half to only 1,200 I think I'd like to walk away with sort of at least $1,000 in my pocket so you know that's just sort of the the way.

I Think about it today. I you know made some progress, pulled back a little bit, made some more progress, pulled back, got myself up to 5,500 and then pulled back a little bit here to 4200 so you know All in all, it's about whatever 20% pullback. I could have pulled back even more at this point I would say again now the halfway point certainly makes sense down to 2500 or so. I would I would want to walk away? at least with that I would not want to do one of those.

and where I go red on the day that it? that is worse than losing on your first trade. Emotionally, it is devastating to have something and then to give it back. So so this is kind of the way. I'm looking at it and um, yes, initially in this area when I was up, you know, traded three stocks and I was up.

you know, 1,200 bucks. Uh, I I was sort of like I don't know. Maybe today's just a day to slow down and then all of a sudden what ends up happening is we get a stock that hits the high day momentum scanner and boom Boom. All right, it's game time, we've got some action, we've got something moving, so let's look at the scans, let's look at the charts and kind of break down how today, Um, played out all right.

So I sat down early this morning and my very first trade was on. Sassy. uh Sasi and this one was actually kind of annoying to me. Uh so I got in this um early.

let's see um it was at about 650 that I got in it and it had based out sort of right through this area here. Let me get my drawing tool on right around through this area here and I took an entry at 475, didn't have a lot of volume, went with smaller size and it goes up to 480 and then it kind of pulls back and I ended up stopping out with only $300 of profit and then the thing goes all the way up to $573 It went a dollar a share and I only made like 15 cents a or 20 cents a share on it was small size so I kind of felt a little annoyed of myself there and you know what I was thinking I was like this is sort of. you know. One of the things that I said about 2023 was that sometimes my best trades are some of some.

sometimes my first trades are some of my best trades I need to hold those trades longer and take bigger positions. That was a full dollar a share and I only made 300 bucks. so not super impressed with that trade. But anyways, so that's the $350 that I have on Sassy that was.

um oh maybe I took one more trade on it somewhere somewhere. but anyways, U maybe it was in this area or something. but nonetheless, um I I really only. Anyways, only $350 of profit.

So that was my first trade and when I took that trade I had actually rolled over in bed early and I saw at about 6:00 a.m. that Sassy was the leading gapper and what I noticed I was like oh Sassy, All right, um, 700,000 share float, less than a million shares of volume. Pre-market has 10 Mill million now and it was a leading gapper. So I looked at the chart on my phone and I'm like oh, okay, so it made this move after hours here so that means it's a continuation setup.

resistance at six I was like yeah, okay, all right well there could be a trade here. So I came over um to my office I looked at the news. um couple little headlines. nothing super exciting to me but I don't know, you know? Anyways, the market responded well and so I got that first trade on it.

Then Sassy started to, you know, pull back a little bit and I'm going to actually switch. This is my top Gainer scanner. I'm going to switch to my top gapper scanner here. So this is a a scan that's showing us what the market looked like at 930 basically at the open.

Um, so it's a screenshot of time. Okay, so then uh, Abvc pops up Abvc and I was like ah, Abvc I don't like you Abvc I don't like you because I don't like your price I don't like you because you're trading very thickly. Uh, just the level two on it was. well I'll show it to you.

it's it's just this is how it's been trading pretty much all morning. So I was like no, you're you're not the one for me I'm moving on. So Abvc, even though it did make a move here from like A150 up to 250 on news I just didn't like the price action. It was like three candles up and then it kind of went sideways.

Um, Nexie. let's see. So let's look at this one. Oops.

I got to color this up all right. So so Nexi. So the thing with Nexi, um, this one, you know I was initially a little bit unsure about it. Um, this one made its first pop right here at about 720, squeezed up to 6 sorry 469 and pulls back all the way down to 350 and then it climbs back up back to 469 and back to five micro pullback.

and then it just kind of grinds higher. You see how it's like grinding higher. This is difficult price action to trade it. It's just it's tough when they're like that because you don't get clean breakouts.

And that's why, even though I took a bunch of trades on it, I was only up like $400 until it started to pull away right here, right? And that's where I made a little bit more. Um, and this is my biggest annoyance of the day: I bought um, 5,000 shares right here at 740 for the break of 750 I then stopped out at 738 which is only $100 loss. It doesn't matter, but anyways, I stopped out at 738 because it did a false breakout right here and formed this little tweezer top. So I was in basically like on this candle right here it hits 750, pulls back I'm holding, it goes up again, pulls back and I was like uh, I don't know and I got out and I I swear.

Now a second later it breaks I tried to press the B button at 762 right here, didn't fill anything and it popped from 750 to 850. That right, there could have been a $5,000 winner. Actually went all the way to 950 so that's annoying. Had the right idea.

Um, it's a cup and handle pattern here, right? So kind of the cup. a little small handle. uh, but you know at the same time I had already given back $1,000 on Syu I was up4 uh, 5600 or 5500 on the day and then I took this, loss on pidu. So I sort of felt like you know, maybe just don't push it, just you're good.

So SAU I traded it pre-market in here and I made like 500 bucks on it. This was choppy. It kind of went really fast on light volume and then it pulls all the way back down. halt up once rips into a second halt, did not even dip.

There was no dip, it just ripped. Now the problem with that is there was no chance to buy really here unless you just chased it and you just pressed the buy button and didn't care what you got filled at. So I couldn't do that trade. Then it resumes and it almost halts again at 1229.

but then it pulls back, it drops down and right in here. it it sort of held. So I did dip trade off of just 11. it's like 1150.

it comes back up to 12. Uh, 12:15 right there I was looking for a squeeze through the high anyways, didn't get it and then I ended up um, adding back as it curled up right here at about 1150 and 1160 looking for that move through the high and this is where I lost 1,000 bucks as it came back down. So so I took the ,000 loss on that and then right after that trade I'm switching back to Nexi and you know I jump in it right here as it's pulling away thinking right here it's going to go. and then when it started to stall out, I was like you know I just took a $1,000 loss on something like this 5,000 shares.

If this thing flushes back to seven, I'm going to lose 2500 bucks I'm going to give back half my day in one trade I'm just going to jump out and so I jumped out I think that my mistake here was trading with possibly too much size at this time of day and you know at this sort of position that I was in in my P&l And so the result was that uh, I you know it, it sort of comes down to two things: your entry and your position size. So my entry was high because I was taking a breakout trade and my position size was high. So now I've got to keep a really tight leash on it. Otherwise, I'm going to take another $2,500 or you know, potentially give back half my day in one trade I don't want to do that.

so I kept a tight leash on it. but it meant I It meant that I stopped out not because the stock really hit an exit indicator or broke a certain price, but just because I couldn't keep holding. You know I sort of was like there's exposure risk here. and the thing with the previous trade on Syu was that on that one, you know it had sort of had this big move.

this pullback. this double Top This bigger pullback, the halt down and now we were kind of coming back up right here. and so when I got in here I was like I think this is going to, you know, squeeze right through the high and circuit breaker halt going up. so I got in at 11 50 and I added at 1160 and then it kind of drops down to 1140 and I'm like uh, all right and then it kind of Pops back up to 1150 and then one candle it dumps to like 1090 and I was like G All right well I got to cut it and I was only 2,000 shares.

so I lost 1,000 bucks basically and that was not even a big position and I lost 1,000 bucks. So then a moment later when I'm in Nexi with 5,000 shares and stalling out I'm like you know, maybe I should go to the exit before the obvious exit indicator cuz once an obvious exit indicator comes I think it's going to flush so you know yeah I I bought it a little high. um it stalled out and my position was a little high so I kind of got chopped out of that. but realistically the loss wasn't that big at all.

it was just I felt a little frustrated that I missed the the the breakout that I thought would happen. that did end up happening just a moment later so you know just the way it goes so that that's pretty much. um so if we look back on the charts, that's pretty much my day here. it's 10:30 I'm up$ 4, 29122 I'd say that's a pretty solid day.

Um, you know I I kept trading until I kind of ran out of steam. That's the right attitude though. I'll tell you something. So yesterday, um I I said I'm not I'm going to leave I'm not going to look back I'm going to leave I'm not going to look back and I did such a good job of that.

but I I came back to my office at like 3:30 because I had some uh I can't remember I was doing something uh, some YouTube comments I was working on a blog post and anyways, um nothing really that significant but I still had this computer on. So I looked in in the chat room and I saw people talking about lbph and I you know I I immediately was like oh man, okay shoot you know this thing. um this thing's at $24 a share. Wow right and I'm like okay, this actually looks like it could be a good after hours trade.

you know, a trade through this this sort of $25 level and I clicked my broker account and I started to log in and I was like no I was like wait wait wait wait wait wait this is how fast it happens I was like no I'm not going to do this stop I closed it I closed it I said you know what? It's the first day of the of the New Year. You had a good day trading. don't just don't It doesn't matter, it doesn't matter. and at this point anyways, the price range is going to be tricky.

I said just forget it, pretend you didn't see that turn it off and I did. uh and I'm happy with that because it was a temptation to jump back in. uh and it's something I really don't like doing because you know it. just yeah it.

sometimes it can work but more often than not it's um, you know it makes some um it just is a problem. So anyways um oh and I see now this is interesting. So um looking at my just looking over my shoulder I see that SAU is halted. So SAU uh, rallying back up right? So again, you know, right idea.

That's what. I that's what I was looking for I Thought it would do it on this move here. it needed to kind of break down and then come back up first. Uh, in any case I still think that you know this one's kind of funny too because it's like I don't know I Sometimes the Catalyst on these feel like really I don't know.

Not sure. You have this resistance from a couple days ago up here above that you've got a lot of room to the 200, but if it couldn't make a bigger move right away, I don't think it's really going to do it today. I'd be surprised if it breaks through that level, but you know, who knows? maybe it will. Anyways, it's good to know uh, when to hold them and when to fold them so to speak.

And that's ultimately one of the biggest challenges with trading is knowing one to walk away and what a lot of beginner Traders do is they overtrade, They overtrade, they overtrade, they have profit, and then they slowly erode that profit, giving it away, giving it away, and they're like one more trade, one more trade, one more trade. Next thing you know, they're full on degenerate mode just just trading anything that's moving I want to try to be more cognizant of is today the day that has you know home run potential. Am I Trading well today you know what's the liquidity like? What are? how are Am I getting good fills? How's how's it feel today and today I didn't feel like I was getting good fills I was having a hard time getting in and out of several of the trades that I took. um, slippage.

just not getting good fills and so that sort of felt like I had to limit my share size I started the day sort of very slowly and at this point if I continue to trade naturally I'd be taking risk and I don't know that I want to take any more risk I feel pretty good about where I'm at on the day you know yesterday was a Green Day today's a green day I gave back a little off the top. How about we call it a day and come back and try again tomorrow? You know, And it's It's very easy for Fomo, the fear of missing out to start to take over that decision-making process and say no. You know, stay here. stay here.

But if today was going to be, you know, a really really hot day. The hottest days start hot. I'm already well above $5,000 by this time of the day, so it's not one of the hottest days. It's not going to turn into one of the hottest days because that's not the way it works for me.

It has to start strong and continue because I build a cushion and then with that cushion I Have confidence and it's like that's just the way it works. So that's not going to be today. So then why keep sticking around? You know, getting chopped up and risking taking risk when you already know that today is not going to be one of those big days? Yeah, we have a couple stocks moving that's good, but um, but most likely well, you know. Just as a case in point, look at the volume on side.

do. The volume right now is lower than it was before Volume: I Mean it's not bad on those two candles, but you can see on the five minute. You know, high volume here. high volume here and this is relatively lower, right? It's coming back up on this candle, but declining volume as you go further into the day.

What's that going to create Bigger spreads, even more liquidity issues, And then we come back to that example of the trade I had a couple weeks ago that I shared with you yesterday where you know I I traded it in the afternoon. it made a big move and I still managed to lose on it because the liquidity was terrible and I looked at the next day and I had all this fomo I was like oh man I wish I had traded that and then you know I realized wait no I did trade that and I lost on it. So don't assume you will make money the longer you stay. In fact, maybe assume the opposite and only stay if there's a really strong reason supporting continuing to trade.

For example, you're continuing to make money. So I made money today and now I've stopped making money. So now I'm going to walk away and I'll see you back at it first thing tomorrow morning. Thanks as always for tuning in! I Hope you hit the thumbs up I hope you subscribe to the channel and reminder is always.

Trading is risky and my results are not typical. Make sure you practice in a simulator before you put real money on the line and trade cautiously. Don't try to blindly follow me or anyone else. Take it slow.

The market will be here for you. The market is just starting to pick back up so buide your time, pay your dues practice in a simulator and I'll see you back here for my next recap tomorrow.