All right, Well, we've got a red Day recap here today. This is a disappointing day. I actually had some early profit and I gave it back and I went into the red and I hit my Max loss. so I got knocked out I'm done I I can't keep trading I'm below my Max loss and as I'm below my Max loss I see a stock squeezing up.

it's halted twice in a row it's opening higher and I have that fomo and that frustration of man. You know if I I I could have just bought that and it could have bailed me out for my red day, But to have taken that trade would have been breaking my rules about Max loss. and this is one of the reasons it's so important when you hit the max loss that you just walk away now. I was still sitting here because I wanted to give some commentary I felt bad that I hit my Max loss as early as I did.

so I was giving some commentary and I knew I had to do my recap. but the longer I've been sitting here, the more frustrated I've been getting. seeing this stock go higher and I'm on the sidelines I'm benched and I'm in the Reds so this is a disappointing day. I You know the thing is, um, right now, we're in a holiday week and today exemplifies holiday trading volatility without liquidity.

Because what I struggled with was I was trading with you know, relatively decent size 6,000 8,000, 9,000 share positions and I had a hard time getting in and getting out. I was getting slippage on my entries of 10 15 cents. That's a th000 bucks of slippage on the entry I was getting slippage on the exit I got 20 cents of slippage on the exit of a 9,000 position. That's $1,800 of slippage.

So you know I was trading with size that was too big for the current market getting slippage and this is one of those days where yeah, I had a little bit of profit and then I gave it back and then I just started to sort of spiral and the losses started getting bigger and bigger and bigger until it was like you know what? I'm below my Max loss I've got to call it. So let's get into the charts and I'll show you what I did today. All right. So I started the day.

Um so I'm I'm read on three out of four stocks. the one winner I'm up $31 This is embarrassing. This is not a great day, but you know this is trading. This is what we signed up for.

Some days are not going to be um, you know, as easy as others and this was not an easy day for me. So my first trade of the day, uh this morning. Uh well actually my very first trade I have a a margin account and then I have my retirement account I accidentally took a trade in my margin account and I made2 70 bucks. Now I don't like to trade in this account because these gains are taxable.

My retirement account is tax-free there's no income tax in my retirement account. So anyways I made $270 in my main account it it was inadvertent because I logged in and I forgot to switch to my retirement anyways I switched to my retirement and then I proceeded to start trading. So my first trade in the retirement account was on um, Nvfy and Nvfy. man this is this stock put me up 2,000 bucks on the day I was in the green I was like all right I'm feeling good and I threw that in the garbage can and I am now red on Nvfy.

Granted only by $1,400 but I'm still red on it. It's red is red So this starts popping up right here. Um on in this Spike right here and I got in a little high at 440. Uh and it ends up so this pops up here.

I actually bought this dip down here at 440 and it popped back up to 5 and I got out at 483. um for you know, a small profit and then it dips again and I got back in at 420 I got back out at 450 so I got a couple little dip trades there on it I then added at 450 for this break. Uh, right here as you can see. um this setup here I added it 450.

But here's what happened: I did a trade right here first and it rejected and I lost like 400 bucks. So I was up 2,000 and then after this trade I was up only 1,700 or something like that 1,600 and then when it came up here I was like I don't know if I want to get in at 448 for the break of 450. So I said you know what I'm going to do I'm going to wait for it to hold over 450. it breaks 450 and I pressed the buy button but I ended up wanting to get filled at 458 but I got filled at 465 so I'm getting filled a little higher.

it then stalls out, dips down and there was a lot of selling at 450 and I was afraid it was going to break I was really worried that it was going to break and um, unfortunately I stopped out and it did not break and then it bounces right back up and I was like gosh darn it. The thing is, if it had broken that support level, I'm afraid it would have dropped back to four. so I took a small loss on it. uh, relatively speaking, it was like 500 bucks and then it goes up and so as it breaks over 475 I was like, you know what? Okay, I'm going to get back in.

so I get back in at 475 it hits five and then right here it drops back down to 450. So I stopped out a second time and now I'm getting a little annoyed. Then it squeezes up and I'm like okay here we go now we're pulling away I added right here for the break of 450 550 and I swear like it goes to 580 and then it drops I stopped out three times in a row on this move and like that I went from up 2,000 to down, 1400. Obviously this is not my most impressive trade that I've ever taken.

The thing is, however, uh, I had to keep it pretty you know. First of all, we had this big pop and then this big selloff which was the the initial kind of Warning Sign I had to be careful on the stock. it was not super easy and I knew how quickly I had lost on this with small size. So when I was trading this with bigger size I started getting nervous and I was like I better just cut it so I bail and then you know it anyways I didn't trade it well at the open it squeezes up but I was already below my Max loss.

so I didn't trade that and yeah, so that was. um so I'm down 1400 on ffy. My next trade was a emotionally impulsive trade on Silo Silo hits the high day Momo Scanner I pull it up I see that there's news and it dips right here on this candle. It it pops up.

it then dips down for a second and as it comes back up here. I Bought 9,000 shares and I held until it flushed right here. So I lost three grand on Silo it was just a terrible trade. It was a stupid trade.

Sometimes what happens to me is I'll take a loss and then I'll jump in the next stock really fast. It's like it is an emotional impulse response and it's not good I try to not do it but sometimes it happens and it happened today on this I hit the high day Momo scanner but I just got caught in a flush. so then I'm down 4500. That's bad.

all right. So then Bblg comes up and I'm read 2,000 on it and this is the one that has me frustrated right now because it's showing a $99.50 resumption and I it halted up at seven. it did a dip and rip which I didn't trade CU I'm below my Max loss and it halted up at 750. Now it's showing a 950 resumption which is that feeling of like man.

If I had broken my rules, you know maybe I I I would be in this with a couple thousand shares and up two points a share. So I feel that frustration that disappointment the same time I have to follow these rules. Um, it's you know if I'm if I'm not able to follow the rules, then the I'm just trading like from the hip shooting from the hip. and then when I make huge mistakes I ask ask myself why it happened you know I could I could have also jumped in this with 10,000 shares impulsively here and then it halts down and all of a sudden I'm looking at a one point gap down and I'm going to be down 20 grand today and this would be my biggest red day of the entire year.

So this is a red day, but 6500 is not the biggest red day of the year. It's not even the biggest red day of the month, so it's better to just walk away because the longer you sit here and stare, you just make yourself miserable. It it it really serves no purpose. So like right here: I'm going to make myself miserable I'm going to watch this halt up here at 9:35 maybe so it looks like it's going to Halt up, but now it's showing 860 on the bid I'll show you the level too So 934.

but it was just 860 on the bid 935. So now it's halting up. but it's you know, thinning out there a little bit. So now it's halted right? So you know this is it's tough to watch and it's going to Halt and then it's going to show 1150 Resumption 1088 So you know the the thing today is that I I knocked myself out of the game too early and then I missed the one that ended up giving um some clean opportunities and that's my, that's my own fault.

it's I have no one to blame but myself I was too aggressive on Silo on a stock that was hitting the scanner and I didn't really wait for a pullback I just jumped in it hoping it would squeeze because I had news took an unnecessary $3,000 loss on that Nvfy that that was. You know I that that I'm not going to that was just I was trading a little too aggressively but that wasn't the worst one Silo was the worst one and Bblg uh, this one was just. it was just disappointing because the thing on Bblg actually even from the beginning was that I was like, um, already read 4500 I don't know if I should trade it in this stretch right here. So I finally broke the ice and traded it on a dip and then it just pulls back and I stopped out and then it comes back up and I was like gosh darn it you know? and I I just did this.

Look at this false breakout right here, right? high volume red candle false breakout right there and then it sells off. It halts up here and then it opens and sells off. Halts down. Almost halts down.

So when it halted up here at 7, I was like I think it's going to open higher and halt down the way it did here. Well I guess shorts maybe got a little too comfortable on this and now they're getting squeezed but I also think that longs have missed um probably the window and are like oh, shoot, do I chase it or do I just leave it. And for those of us Longs who got ourselves into into the red um it's you know it just is what it is. So I think the the big picture and the moral of the story is that you have to have a set of rules that going to follow in you're trading and there are times where you might feel like following those rules is holding you back as was the case today.

you know if I had continued to be emotionally impulsive and maybe I could have slammed this and had a great trade? Maybe, but maybe that same exact trade on another day would have put me down 25 or 30 grand on the day. and ultimately my job is to manage risk is to manage the capital that I have in my account and losses will happen. Draw Downs will happen. I'm in a little bit of a draw down right now.

These last few weeks have not been great. It's been coming to the holiday season, it's been slower I didn't ease off the throttle as fast as I could have and even today when I had some nice profit I pushed for more so you know I've been doing this for a long time and I still find myself getting into these little ruts. Trading is a big mental game. It's a mental exercise.

You're going to have green days, You're going to have red days. But really I have to be able to manage my risk and so capping my loss here at 6500. That's very tolerable relative to you know where I'm at in my career, where I'm at on the year? you know everything else? It's It's a very you know minimal loss that it's easy to recover from. It's when you know I take that 15 20,000 share position I just keep pressing the buy button or let's say I get really emotionally impulsive and this opens at 10 and I'm just say screw it and I buy 5,000 shares at 10 and then it halts down and opens at seven I lose 15 grand Just like that, you know it's or I do that with 10,000 shares I lose 30 grand moments of laps judgment can create huge losses in trading and so when you become emotionally compromised because you're frustrated because you've hit your max loss because you went from green to Red these are the the cues that you need to pick up on to remind you to walk away so you don't make a bad day worse now.

I I Always seem to make bad days a little bit worse like I did today, but I Also kind of know when enough is enough and when to walk away and you'll find that for yourself. it used to be for me there. there were periods of time where you know my my red days I was having. you know $335,000 red days or I'd have a $45,000 red day and you know obviously I was having at that time some nice solid green days.

you know, 15, you know, 20 grand or whatever. but when I would hit these days I mean I would just keep going and going and going. and as many of you know, the biggest red day I ever had Well my two biggest red days. So I like I'll share with you my three biggest red days.

So you know what? Let's make it four. I'll share with you my four biggest red days and we'll do it chronologically. So the first big red day that I ever had was, um, probably was in my F. maybe it was my second.

It's probably my I don't know. actually can't remember if it was my first or second year of trading, but it was trading a penny stock and I don't know if it was an OTC stock but it was definitely a penny stock and this was a time where I was subscribing to all of those newsletters and they were all emailing out. You know, the hot penny stocks, hot penny stocks and I bought into one on pretty much day one of it starting to move I don't know if it was at like 10 cents or 15 cents but I bought a pretty big position and it ends up squeezing up to I don't know 20 3040 cents and I kept adding to it cuz I was like oh it was like this is going to be the one the next one that goes to like $5 a share I was getting greedy and what ended up happening was it started rolling over and I didn't sell I was like oh this is the first pullback but then it went red and I was like oh I'm not going to I was just up like you know, thousands of dollars I'm not going to sell now and then it started going lower and lower and lower and lower and I finally sold it basically for it was almost worthless and I lost 15 ,000 in in one trade and it was insane for me at that time. that was crazy amount of money for me to lose.

that was a that was the majority of all the money I had to lose that in one trade. So I came out of that with this sort of new found belief that when I'm green I need to take the profit off the table right? Like get in, get get out, don't stay, don't hold, don't average down and so for I then went through a period of trading very actively. but you know I was inconsistent. My accuracy was poor.

I would still have bigger losers but I at least wasn't having those types of Trades So the first big loss um was minus 15K and this was on a penny stock. My second big loss was minus um it was 30k. My second big loss was minus 30k. It was actually on a day a lot like today.

I had you know you know, dug myself a hole I was down four was like $4 or $5,000 about that and I was frustrated I was I was pissed off. you know I was just like God dang it I can't believe it down $45,000 and I decided not to walk away but to sit here all day long and I sat and I waited and I waited and I'm watching scans and I'm listening to news and finally um, in the afternoon it was like 2:00 a stock starts lighting up the scanners and it was expensive. Uh, it was like $80 a share $70 a share and there was some news that came out. There was buyout speculation: I bought 500 shares and I bought at the God dang top.

it drops 10 points I'm down another five grand. it I decided to add another 500 shares. it drops another 10 points I add again I ended up losing $25,000 on this trade. This stock dropped like 30 points.

It went from like 50 to $90 a share and then back to 50. And it was that moment of impulse jumping, chasing desperation, fear of missing out a refusal to just accept the $5,000 loss I wasn't willing to accept it and I paid a a very steep price for that. So at that time my account had uh over the previous 6 months grown from about 25,000 up towards about $50,000 So when I lost 30 Grand in one day, boom, It basically put me back to where I' had been like six months ago and as you can imagine I felt devastated I mean I was like I can I can I like call my broker and undo that last trade like that was an act I didn't mean to take that last trade you know like this, can it happens so fast? If I had like gotten up for five minutes and gone to the bathroom or something I would have saved myself. It's just it just happened so fast.

uh but it was my own fault and I was being emotionally impulsive I wasn't following rules I was just shooting from the hip and so as I kind of collected myself after that really big loss. um I remember I had a drive I a drive to go see my uh, who was it um I can't remember now but I I had a long drive and so I was on my phone and I did a a voice memo and so while I'm driving um I I was like like you know, basically like well I just had the biggest red day of my career I really feel like an effing idiot I I don't even you know and I just started talking I started talking myself through it and I talked for probably an hour I just talked myself through that trade or hey, by the way, this just halted down at $9 so right? uh anyways, doesn't matter but just to so I was talking myself through that trade uh or through that experience and it was very um, it's very meditative. it helped me kind of decompress and I kind of talked to myself. um the way maybe I hoped my father would have talked to me.

of course he's you know had passed away many years ago, but um Ross it's all right. You know these things happen. You did make a mistake, but what can you learn from that mistake? M what can you do differently next time and I thought to myself well my big mistake, you know was trading from this emotionally fueled place when I got emotionally fueled rather than just you know, walk away I I doubled down I started getting desperate I was grasping for straws and rather than looking at the um, the larger cup as being uh, half full, that okay, you know I had just gone from $25,000 you know, which was basically like money I deposit into the account up to $50,000 This was profit. So yeah, okay, I'm down I'm at 45,000 after that red day.

So what? The cup is still half full? Bruh, you know what I mean like this is not a big deal and instead I got so fixated on this little tiny day right? I'm just so zoomed in on this I can't see anything else and all I want to do is make back that five grand and I go. You know, take a $30,000 loss to try to make back five grand because I'm not thinking about risk I'm just I'm gambling at that point and with trading at any point, you can jump on the other side of that line and become a gambler. So I could say the same thing for myself today. You know it's like I Have you know the cup is full? You know the cup has gone from $583 which was how much I initially deposited in my account in 2017 $ 58315 to over $10 million in in net profit.

It's about 12.5 or something in Gross. So I'm like way way way way up here. So you know the fact that I lost 6,000 today is. this is not even in perspective like that's that's way more than 6,000 if this is $600 and that's 12 million or10 million.

Whatever gross or net it it's like why get so fixated but you know for me what ends up happening and and what what happened. Um, you know last week for those you guys who have been tuning in for these Recaps is you know I had some nice profit and then I lost um 10 grand like two Wednesdays ago and then I had two small green days and then I lost another six grand and then I just had like three small green days and now I'm down another like four grand or six grand. Whatever. six grand.

So you know I I feel like this is happening now. This is still in the context of like, well you know I'm still at this huge number. Okay, I'm down like 18, 15, 18,000 off the top. but you know that's still relative to being up way over $10 million.

So big picture is that it doesn't matter. but this is the small picture of the last like 30 days. You know the last 30 days here it's I had some nice profit and then I you gave it back. So now my second, uh so that was my second.

um big loss was that $30,000 loss and then I managed to go for several years without having um a really devastating loss. you know I had red days but I got really good at following my rules walking away. um you know and not not pushing my luck. I just I would just call it a day and I I was I was done red day very disciplined and then on March 20th 2019 I uh my small account challenge had grown from $583 all the way up to 900.

um $96,000 approximately and it was March 20th the anniversary of the day my dad passed away and on my first trade I was up like three grand which gosh that put me darn close to over a million and I wanted to bust through that $1 million Mark I kind of wanted to do it, you know to honor him, maybe in some way. uh make him proud and you know a stock pops up and I got in kind of heavy and that starts dropping and rather than cut the loss, I started just averaging down I started getting stubborn and it ends up halting down and I lost 30 grand on that trade. So my my third uh biggest loss was minus 30 grand as well. same as the second oneus 30 grand and so it dropped me you know down to to 9 and um you know 970,000 or something like that and it took about 6 weeks um for me to recover that loss.

uh but I I did and of course crossed over a million dollars and continued trading. but that was a day. that was a lesson on how emot how much emotions that have nothing to do with trading can affect your trading. So that was the third really big loss that I had.

My fourth big loss um is my most memorable loss in some ways. Uh, it's the biggest loss I ever took. I I have had losses that were between Um that were bigger than 30,000 but not as big as my biggest loss ever. and those I kind of don't think too much about because they were.

they took place during Um a period when I was having such big green days. I was having 100 $200,000 green days that a $50,000 red day was like I would make it back. Sometimes I would go down 50,000 and then I would recover that in in one day without. you know? So it's like I didn't really? Um, it was sort of a different perspective at that time.

but on February 4th 2021 uh, just a couple days after GameStop I had made about a million dollars during the GameStop short squeeze. Uh, trade in GameStop at other stocks too and then everything was going crazy February 4th Um is my birthday. so on my birthday I end up taking a trade on this stock and it, you know I actually don't even really remember exactly how this day went down. um I don't remember if I was green on the day and then went red.

but what I do remember is that I um saw a stock that I thought was was getting ready to dip and rip for a halt up and I started pressing the buy button and I had my order. I I was actually buying a totally different stock I was already emotionally fueled. so much to the point that I was press I was looking at the level two on one stock and I was buying a different stock. So I bought like 40,000 shares of the wrong stock and when I realized what had happened and looked at the stock I had just bought, it was halted down and it opened about two points lower and I lost $275,000 in one day.

Wow and it was on my birthday so that was the biggest red day I've ever had. minus $275,000 and I did make that back within. Um, actually by the end of the month by the end of the month, I still finished the month of February in the green. so I I made it back pretty darn quickly.

Um, but these days all tell different stories. I Suppose this was Big emotionally fueled. This, this was big, emotionally fueled. This was big, emotionally fueled and this was just a rookie mistake.

This is just a rookie mistake. I was dumb I didn't know what I was doing I just kept adding um and you know I I learned a lesson from that this this day. Um, what it should have taught me was to never, ever ever trade below Max Loss to never never do it. But you know, few years later I did it again on that day and a few years later I did it again on that day.

so you know, it's trading. Trading can be tough because you know when the market is hot. um and I'll actually let me jump onto the screen share here for a second. Um, so this is this: halted down by the way, at $9 and showing a 791 resumption.

So if I had bought that 10,000 share position at 10, you know I'd be down 20 grand right now. Unrealized, this would be a $26,000 red day, which would make it my biggest red day of the year which would, uh, not be good. So uh, you know it's a bigger red day than I'd like, but it could have been a lot worse. So uh, uh, I just want to show you, um.

over on um, the website. We have a few featured members. Um, so uh, Jess is one of our featured members right here and he's got $500,000 in profits. He's got his 500 500k badge which is awesome.

Uh, but he said something kind of interesting. um in this interview and in some other interviews that we've had together. um, he said that he doesn't like to have too many rules on his trading. He finds that you know, having a rule like I have to walk away.

for instance, um, that when the Market's really hot, sometimes you'll hit a $5,000 daily Max loss. But the Market's really hot and walking away means you're going to miss out on that big move. and I I don't disagree with that. Um I Do sometimes feel that these rules can hold me back.

However, ultimately, as a day trader I have to be managing risk I have to be thinking about risk and having days where you know I lose 20 3040 $50,000 is not acceptable I cannot have days like that emotionally. it is such a setback. a $5,000 red day I can forget about that within a couple days like easy. so kind of in away I don't want to have any red day that I can't forget about within a couple of days.

Um, now if the market is really, really hot I will increase my daily goal and I'll increase my Max loss from maybe 5,000 to 10,000 or even 15,000 And that I think is the best I can do is increase it based on the volatility of the market and the opportunity in the market. But I don't trust myself to be completely without any guard rails on my trading. For me, the guard rails really do help keep me in line and if we're going to talk for a second about guard rails, um, I might as well, um, show you my book how to day trade The plain truth: because in this book, uh, I actually break down the guard rails that I use in my Trading and you know, obviously these guard rails um are are only as good as uh, the trader who's enforcing them if you choose to ignore the guard rails, then well, you know you're going to. you're going to pay the price on that.

Um, but these guard rails really are important to me. And so you know, if you'd like to check out a copy of my book, you're welcome to it's on. Amazon I'll put a link down below, but the fact is, uh, I have found for me maybe I'm a more emotional traitor than others you know. maybe I maybe I get emotionally triggered I get frustrated myself more easily than other people and unfortunately though, when I get that way, my judgment is clouded and I can start taking emotionally impulsive trades where I get desperate I'm trying to recoup the loss I don't like feeling like a loser I don't like being read on the day.

it's not a good feeling and the fastest way to alleviate that feeling of being a loser is to have a winner. Which means suddenly, uh, your quality standard has declined significantly. You're willing to trade anything, right it? When it's when it's got, when there's that much emotion on the line, it's like I'll if it's moving a little bit. I'm I'm interested so you know that's what ultimately has created some of my biggest losses.

and my loss today on Silo that's $3,000 That's dumb. That's a dumb loss. It was stupid I know better I know better up here. but in those moments my brain's not doing much the thinking It's my sort of reptilian.

You know that emotional raw animal Instinct that's just like I'm sad I'm red I don't want to be red. Want to be happy? Want to be green? Must be green and you know it's like very primitive type of thinking and it doesn't uh suit you very well in trading. And I could tell you you know look if you learn from me, you know if you take my classes. if you become a warrior Pro member you're You know you're going to learn how to master your emotions and this will never ever happen to you again.

But that's not true. Uh, because trading is a emotional activity just like. uh, professional sport sports are emotional. The athletes get emotional when it's the big game and they screw up, they get upset with themselves.

The stakes are high. This is a performance sport. You have to perform at your best every day. And if you're not at your best because you're you know going through something on that's outside of trading or whatever it's going to come into the game it's going to come into how you perform and so you know this is what we signed up for in yesterday's episode where I talked about how I began trading as a New Year's resolution I shared how um you know this is this is what we signed up for to be Traders Uh for me, there are times where um I do feel you know a huge amount of stress that comes from Trading you know I'll feel the adrenaline I'll feel my heart pounding my Palms will be sweaty I'm like whoa I'm really like dealing with some stress response here related to trading.

um and there are times where I feel like a little uh, envious of people who just go in and clock their 9 to-5 job and and leave as long as they're making a decent salary. I mean not if you're making $50,000 or $30,000 because I did that before and it. but you know I'm envious of the people that are making like half a million dollars and just like punch in and punch out. but you know I don't know who.

that is what I think I'm envious of. especially are people who are able to put work behind them at the end of the day because I cannot do that and maybe it's because I'm sort of. you know self I don't know if I you know I'm not classified as self-employed from a tax standpoint because um I I take a W2 paycheck from Warrior Um, but I I feel like I more or less am self-employed because if I stop working I stop making money. So the thing with being self-employed is uh, as a Trader is, it's very hard to kind of turn it off.

You know, at the end of the day last night at 8 o'clock at night I'm looking at uh CG because C last night um ends up making this, um, this squeeze from like $4 to $22 a share and so you know know it's it's 7:30 8:00 at night and I'm still thinking and looking at these charts. you know I I I Feel like with trading? Um, it's just it's it's very all encompassing. Like when you're in, you are fully immersed and and you kind of have to be like Allin because when you're Allin you just start to. It's better for learning to be fully immersed.

you understand it better, you all the subtle nuances of trading into the markets. you're just going to absorb it better by being fully immersed. But uh, but yeah, there's times where I feel like um I I'm a little envious of people that that have things a little differently. So in yesterday's episode I was talking about how I started trading as a New Year's resolution and how I I grew up with a feeling and a sense of scarcity that came from my great-grandfather losing everything during the Great Depression and then the way he raised his children and his grandchildren and then the way I was raised.

it's generational trauma that came from the Great Depression I. You could lick it right Back to that. That's where it came from and it's in my mother and um, and it's in me and it it I Don't know if I'll be able to break that cycle and not put it into my own children. So however, me and my sister uh who grew up in the same uh home have different responses to that uh, sort of trauma that that we we felt.

She went down a path that she feels gives her security. She did good in really well. In school, she got her four-year college degree, she got a job at um, a dentist, medical, uh, office and then she worked her way up and she's you know, just kind of. She's done everything by the book.

You know she's done all the right things and she's going to have you know, probably a 401k and you know she'll contribute to her. Ira She gets X weeks of paid vacation, gets X number of sick days and when she's done with her job at you know, 5:00 she doesn't have to think about it. Really, you know I mean I'm sure there's days that she does, but but but it's you know it's it's it seems a lot easier and and I saw that with my mom too growing up. you know my mom worked at the hospital in Brador Vermont and um the it was a p Psychiatric Hospital uh but in any case, still a hospital and when she was out of work it was like you know I'm done I'm checked out don't have to think about it at all.

Neither of my parents were business owners so um, the thing for me though was that when I saw my mom get laid off after 40 Years of employment at the same place I Felt like it's a myth that there's job security because now at her age it forced her into retirement. she was at an age where she couldn't go. she could. she would.

She wouldn't have gotten accept it anywhere. She was kind of too old. you know I mean it's a shame, but that's the reality. Um, and it would have been really hard for her I think to find a another job at that point.

Um, and so all of a sudden you know she wasn't that old I don't know how old it was. maybe she was 60 something, but um, it put her into retirement sooner than she was planning and you know that was it to me when I think about retirement I Think about people who are like I'm going to retire at 65. What are you going to do for the next 30 years of your potential life? I Mean people are living older, maybe not 95. But you know what are you going to do for the next 20 years of your life? Think just how how much time that is.

Think about where you were 20 years ago. 20 years ago. 20 years ago I was 18 years old. Think about all that's happened in the last 20 years.

So now think about if you retired today, what you're going do for the next 20 years, what are you going to do that's going to give you purpose. What are you going to do that's going to make you want to wake up each day and so to me: I don't want a job I wouldn't want a job where I was concerned that I could get fired and where it would be hard for me to find a new job because I'm too old. So I started gravitating towards wanting to find ways that I could generate income using sort of my own skills. and when I was living up in Vermont I worked uh at a pottery studio and I there was.

There's a number of artist studios in that area and I love going to see them and you meet these artists who are you know of all ages, but there's a lot of artists that are older you know and and they're they're still producing I have a this painting. uh, it's over there. it doesn't Anyways, um from this fellow Roger uh he's such a nice guy. he's up in Vermont and he's in his I think he's in his 80s.

he's older. um but he's still painting and I think that painting was maybe $6,000 I Bought it a couple years ago and I love it. It's great in my office and I thought isn't this awesome Roger day you know it starts with him getting up and doing something. He loves.

You know he he's painting all morning and then in his studio and then in the afternoon you know he he goes off and he does something else and and he's He's at an age where he's he's still making money. Now he's not saving for retirement, but he's kind of of like coasting. He he makes enough to cover, you know, and it's like I I I I This is the thing because of the insecurity that I have. what I seek is stability, security and I feel I can only get that through being self-sufficient That's the thing.

and trading makes me feel self-sufficient now. even today on a red day. Okay, it's a red day today, but big picture trading is a career where I feel self-sufficient I produce, profit from the market and I don't need anybody else I can just trade and I feel like I could do this for forever. Essentially I mean you know markets change and things like that, but people have been trading for forever and I don't see why I couldn't keep doing it for a long time so that self-sufficiency for me was what I was looking for.

and that's that's one of the things that brought me into trading I was looking looking for Independence Financial Independence I wasn't looking to get rich I didn't have dreams that I would make millions of dollars I didn't care about that I just wanted to make sure I was bringing in enough to cover what was going out. That was it just that. just like that and and and and I think in a lot of ways I thought that trading could be a way that I could build up some Capital to invest in some other things that might also produce some uh, stable income passive income whether whether it was passive income with like a real estate property maybe or or it was starting an art studio but I needed the money to start it up anyways. I haven't started an art studio so that's still unhold I have done some real estate and that's okay, but um, but I think that the the thing that I really wanted to get across to you was, um, a couple things.

Number one: Trading is without a doubt a very challenging skill to learn. uh, and it. and and being a successful Trader requires you to have a high degree of emotional intelligence, emotional awareness, and a very high level of discipline. If you can bring those things to the table, what I can bring to the table for you is a strategy.

That's what I can bring I can bring this the system I can bring the strategy that I trade the system that I trade. But what you have to bring to the table is the discipline, the emotional intelligence, and and some of the physical aptitude. um, and even for me I I don't even though I have a system I still sometimes deviate from it because I get a little emotionally, you know, triggered and I'm couldn't I'm not getting away following my rules as quickly or as well as I should. So even I after all these years, years of trading have room for improvement.

and then secondly, I just kind of wanted to, um, touch back on what I was talking about yesterday. With these two paths to uh, a sense of Financial Security and for me, Financial Security comes from being self-sufficient and I think um for my sister, it comes more from um, from you know, the security of having a job, a regular job that she can count on, and I I just think there's It's interesting how um, you could have two sort of very different, um, different outcomes, Uh, from from us, the same um, upbringing Because the thing is with being a business owner, some people would be like oh my gosh, You know if you're financially insecure or you're nervous, being a business owner is crazy. Most businesses fail. Uh, it's true, most do.

um, and being a business owner is very stressful in a lot of ways. But it's also very exciting. And and a trading is kind of like being a business owner. you know it's it's very similar to me.

uh, but but it is stressful. There's definitely some stress that comes with it. but I think for me, there's the excitement of knowing that I'll eat what I catch and that I don't have to depend on other people and I see the potential. and when I've seen other people who have done well, that reaffirms to me at least that there is potential in this and I should keep sticking it out and I should keep fighting through.

So each time I had these big red days, These four red days I was in a place where you know I take the big loss I have the big draw down and now it's like, okay, what next do I walk away? do I quit? Do I give up? No I Implement my rules I enforce discipline and I begin what is initially a slow recovery now. sometimes I go a little lower because the market just is not great. but you know I I don't drop down another 30 grand or whatever and then I slowly start to move back up and then once the market picks back up, then things get, things get fun and I can start making some good money again And it really is I Said earlier today Today just doesn't feel easy. There are days where it feels a lot easier than others and today was not a day where it felt easy.

It felt very hard. Today felt very difficult. I think some of that because of the volume in the market, lighter volume, bigger spreads. um, holiday week of trading and you know there's some other factors in there too.

But anyways, um so that's going to be it for me today. It's a red day recap. It's a little, you know. Yeah, it's a bummer.

I'd rather it not be a red day recap. but the glasses half full. big picture. Life is good and I'll be back at it tomorrow to finish up the last day uh, of the month here.

and um, you know we'll see if uh I don't know. maybe I can break the ice and get a couple green trades and just finish like that. and then, uh, that's it. All right? So thank you guys as always for tuning in.

I'll remind you as always that trading is risky. My results aren't typical. There's no guarantee you'll find success whether you trade with me or you learn on your own. So take it slow, manage your risk and I'll see you guys back here for my recap tomorrow.