Full transcript
0:00All right. So, you're going to see me
0:02call out a 600 point trade on the
0:05NASDAQ, which is also 1,5% profit on
0:08these QQQ calls. Uh, absolutely
0:11astronomical day. Now, we do start out
0:13with a stop-loss, but as you guys know,
0:14with day trading, that's irrelevant.
0:16You're going to have stop losses. And,
0:18uh, if anything, it just shows further
0:19proof of concept because I do not allow
0:21the stop-loss to dissuade me from my
0:24thesis and my setup. So, you're going to
0:25hear me talk about it in the very
0:26beginning, how I'm looking for a bounce
0:28of 30,200. That was my game plan going
0:31into this market open session. Um, side
0:34note, I'm the only day trader that I've
0:36seen all day online. No one else caught
0:38this move. So, this speaks leaps and
0:40bounds about this orderflow strategy and
0:43being able to read the tape obviously
0:44combined with good technical analysis
0:46because obviously I'm watching 30 30,200
0:49for a bounce and there are many mornings
0:51where I try to look for a breakout for
0:53calls instead. But this particular
0:55morning I was watching for a bounce for
0:57that setup. So, it it goes to show how
1:00good technical analysis combined with
1:02being able to read the tape, looking at
1:03volume session profile, point of
1:05control, uh, pivot reversal areas to
1:07help identify these possible setups go a
1:09very, very, very long way. And again,
1:12still to this day, I don't really see
1:14anybody trading with this online. All
1:16these gurus are still trying to preach.
1:17Some people are using orderflow
1:19terminology, but I don't see them talk
1:20about order book level two time and
1:21sales. I don't see them talk about using
1:23options order flow in order to help
1:24determine moves, looking at the Greek
1:26patterns and things like that. Nobody
1:27really talks about that, right? Um, so
1:30to be seen it tried and true and proven
1:32on a daily basis over and over and over
1:35and over again, that's what I do. Um, I
1:38do use a rule every single trading day.
1:40I've done this across the board. You
1:42know, I've seen some people online,
1:44people have sent me messages about
1:45people online, which I'm taking care of
1:47on my own with some defamation stuff,
1:49but I've seen people online try to say
1:50that I take four to five losing trades
1:52in a day, which is complete fabrication.
1:54It's a complete lie. Um, on the day
1:56trading side of things, I only allow for
1:58two stop losses. If I take two full-size
2:00stops, I that's it, right? The one red
2:02day I had a while ago, which I posted,
2:04it's on YouTube, it's on Instagram. That
2:06one red day I had, it's because I had
2:08one winning trade and two red trades,
2:10and that put me in the red. I'm done for
2:12the day. That's it, right? I had a loss,
2:14a win, a loss. That was it. So, I have
2:16very strict management rules here. So
2:18you'll be able to see the the importance
2:20of today's trade because I'm essentially
2:22risking a red day in the first 5 minutes
2:24of market open. I'm essentially risking
2:26a red day. Um so it goes to show quite a
2:29lot about my faith in the system and my
2:30faith in this particular trade which
2:32you'll see play out live in real time.
2:34Uh but that's the beauty of this, right?
2:35And that's how all these trading days
2:36work. I show up in the pre-market 15
2:38minutes before the market opens. Type up
2:40the watch list and I say this is what
2:41I'm looking at. This is what I want to
2:42see play out. This is how I plan to
2:44execute, right? Because I'm coming from
2:45the Marine Corps. I like having plan A,
2:48plan B, plan CD, DE, E, F, and G. I like
2:50having all these plans ready to go
2:51before the market opens. That way, when
2:53the market opens, all that comes down to
2:55is a matter of execution. Risk
2:57management's already been laid out.
2:58Entry and stop losses have already been
3:00laid out. Uh, and maximum draw down on
3:02the day has already been laid out. Hey,
3:03if I take two full-size stop- losses,
3:05I'm losing X. I'm okay with that. I
3:07could walk out of my office and go be my
3:08family and nothing's going to matter.
3:09It's not going to affect the future.
3:11Things like that. All right, those are
3:12the signs of a good trader. So, as a day
3:14trader, your job is good risk
3:15management. All right, but you're going
3:16to see that play out here. Um, you've
3:19also seen the students profits by now.
3:20We had uh somebody who absolutely
3:22crushed it today with $74,000 profit. I
3:26think it's absolutely astronomical. Uh,
3:28we had someone else in the chat said
3:29they make 65 grand, but I didn't see
3:30them post anything. Um, so, you know,
3:34this one of those things though that I
3:35love to see the proof of concept with
3:37the people that trade with me because
3:39they're starting to learn and understand
3:40the education because again, I'm I'm all
3:43about teaching. I want people to learn
3:44from me. You know, it's not about being
3:46the Discord bro that gives out signals.
3:47That's not what this is. That's that's a
3:49waste of time. You really do have to
3:52learn the concepts behind what good
3:53traders do. Understanding institutional
3:55order flow, what actually moves the
3:57markets, those options Greeks, and how
3:58they affect the current trades. looking
4:00at the NASDAQ, determining pivot points,
4:02being able to manage a risk, and taking
4:03those entries based on your system. It
4:06will work out quite well in the long run
4:07for most people. So, but you have to be
4:09willing to give it a shot and stick in
4:11it. Uh, I noticed in the trading
4:13community in general, a lot of people
4:14give up in the summertime. A lot of
4:16people call it quits on trading in the
4:17summertime, right? And we start to roll
4:19out into the fall going into the winter
4:21time when the market starts to rally
4:22quite nicely. We pick up the volatility
4:24like we've seen Friday, I had over a 100
4:26point trade. Today, over 600 points.
4:29It just goes to show that the system
4:30works and it's irrefutable. Um, but you
4:33need to be willing to position yourself
4:34to do so. You need to be willing to
4:36position position yourself for that. So,
4:38if you can't stay consistent, day
4:39trading is not for you. Right now, will
4:41you get there in two months? No. No.
4:44It'll take a few years for sure. Uh, and
4:46that's what day trading is very good at.
4:48It's very good at weeding out the weak.
4:49Uh, that saying only the strong survive
4:51is very true. If you look at any
4:53profession, professional sports players,
4:56uh, celebrities, big movie stars, um,
4:58your highest echelons of certain fields
5:00like doctors and lawyers, things like
5:01that. Only the strong survive. You don't
5:03see weak-minded people rising to the
5:05top. And that's how it's always going to
5:07be, right? A weak-minded PE person is
5:09not going to be strong physically.
5:10They're not going to be able to get
5:11there. They can't push their body. So,
5:13it's just one of those things where you
5:15need to put yourself in that position of
5:16being uncomfortable because that's the
5:17only place where you learn to grow. All
5:19right. So when you watch today's live
5:21trade, please don't view it as a
5:23comparison. Don't come into this and be
5:24like, "Damn, I should have caught that,
5:25too." Look at it as, "Oh, that's cool."
5:27You know, this guy who has very basic
5:29level of education uh with it with, you
5:31know, what freaking marketing degree in
5:33in college, you know, I only got that
5:35because I didn't know what else to do
5:36after the Marine Corps, right? Um if I
5:39can do this, you can do it. If I can do
5:40this, you can do it. Okay? Uh anyone can
5:43do this. You just you just need to be
5:45finding one a system that works for you
5:47in the long run and two finding some
5:49good education to follow which is why
5:50I've created this YouTube. I'm creating
5:52a massive library of top level education
5:55for day traders to go to without paying
5:57a penny. Uh I don't have to do this
5:59obviously but I love doing it because
6:01this is something that I wish I had when
6:03I started instead of bouncing around all
6:04the Discord groups and all the nonsense
6:06I had to deal with. Some good, most bad,
6:08right? But want to have that positive
6:10learning process. So hopefully you guys
6:13love this. Uh 1% better every single
6:15day. As always, please show some
6:17support. Like, subscribe, comment. Let
6:19me know what you guys would like to see
6:20next. All right. 1% better every single
6:23day, guys. Y'all have a good one. I'm
6:25watching today for a bounce of 30,212,
6:30which lines up with 727.6.
6:33I want to see if we can bounce that
6:34area. 30,212 to 30,200.
6:39I want to see if we bounce this mainly.
6:52Nvidia's weak. Nvidia is selling through
6:54pre-market low.
7:00Still watching the strength on Tesla.
7:07All
7:15right, I'm in calls here on QQQ NQ.
7:22I like the strong buying pressure here
7:24combined with spy strength as well.
7:27Feels right at 30,252.
7:32We have good volume as well. 600,000 on
7:34the tape right now. Tesla's also got
7:36that beautiful strength here as well
7:37with Tesla's position.
7:43Nvidia is causing us to pull back a bit
7:44here. Tesla's rejecting at 37546.
7:50We're down about 10 points right now.
8:00Massive surge of sellers here trying to
8:03hold it.
8:05It's a big fight right here on the
8:07NASDAQ. Got a lot more buyers trying to
8:09step in now. This is really tough what
8:11I'm watching here. This is all over the
8:13place on the volume. This is anyone's
8:14game right now. It's only about six
8:17three points negative right here. If
8:18you're not a fan and you want to cut it,
8:21just letting you know what I'm seeing.
8:23But I am seeing Nvidia bounce
8:24aggressively. NQ is ahead of the market
8:26with those strong buyers.
8:42that AMD is strong with Meta as well.
8:44Meta went straight through that.
8:49Now we've gone through about 15 points
8:50of draw down and we've come back up to
8:52the entry. Went slightly in profit and
8:53now we're about uh about three player
8:56ago. Now we're back in profit. Sorry, I
8:58don't have this drawn out over here.
9:08Tesla. My goodness.
9:12If you enter Tesla at all, I would scale
9:13out there.
9:19All right, the S&P is trying to bounce
9:20with Nvidia, but the NASDAQ is getting
9:22ahead here and starting to sell through.
9:37No, I didn't have M on the watch. Sorry.
9:39Stopped out right there.
9:46Still willing to take a better entry for
9:47calls here. I'm just watching
9:57I would take full exit here on Tesla,
9:59especially if you took a loss on me
10:01there just to cover the loss.
10:05It's about 130% profit on Tesla.
10:18All right, watching this 230 area for a
10:21bounce.
10:22Look at Nvidia bouncing pre-market low.
10:25We're trying to hold this right here.
10:26I'm just waiting to see if I can get the
10:27right volume to come in again.
10:43All right. Light size calls.
10:55get a little more.
10:58It's about 20 points profit right here,
10:59but I do want to see more, guys.
11:04Let me try to
11:12Oh, that's the wrong one. I'm just going
11:14to delete that one.
11:16I'll leave it there.
11:19Tesla's going straight through again.
11:25I am going to get ready to cut this at
11:27the entry
11:29cuz Spy and Nvidia are strong. We should
11:32be able to move straight through this.
11:33We have good volume, great volume. Spy
11:36and Nvidia are strong. I saw all the
11:37orders coming on the ask that I wanted
11:38to see.
11:40Just got to let see a little bit more
11:41for the profit target here.
11:43Okay, I'm going to scale out right here.
11:45This is my first profit target. Just
11:47going to scale out.
11:55Now, what I'd like to see out of this is
11:57um what I'd like to see out of this is
11:59at least God, I can't even grab it. At
12:01least be able to come up to 60 points
12:03profit. That's what I'd like to see. But
12:05leaving the stop loss where it's at is a
12:07little bit risky in my opinion. Here's
12:08the deal. You leave the stop loss where
12:10it's at, you're going to be red on the
12:11day if this pulls back obviously, right?
12:12Because you took a full-size loss, you
12:13scaled out a little bit, and that's it.
12:15So, I'll leave that up to you guys. is
12:16the decision you want to make. This
12:17trade, in my opinion, is valid because
12:19of the hold of the support level here.
12:20We're flipping positive on the delta. We
12:21have SPY is trying to hold up here as
12:23well and Nvidia is strong. Um, it just
12:25really is dependent upon what you're
12:27willing to end the day as because you
12:28can sell here for green, right? You can
12:29sell here and be tiny green on the day.
12:31Totally up to you. I'm going to leave
12:32that up to you.
12:40All right. Make sure you've scaled out
12:41at this level. 30,264 is 30 points. All
12:44right. Here's 47.
12:47Excuse me. I'm going to scale out a
12:49little bit more right here just to help
12:50cover the loss from the first trade.
12:58Contracts have moved substantially well.
13:00Also, for if you're trading options,
13:01this is a great full exit spot just
13:02because of how the contracts moved. Um,
13:04again, you've gone from a$137 to $2 a
13:06contract on the QQQ728 calls. So, you've
13:09moved tremendously well here. Uh very
13:12high profit about Okay, now this is a
13:14big big exit area. All right, I'm
13:16selling 90% to the position here, folks.
13:1890% sold.
13:20Again, this is just to cover the loss
13:22from the first trade. Still going to let
13:24this go for 100 points now, but just so
13:26everyone's aware. All right, that's 65
13:28points, right? Yeah, 65 points profits,
13:3190% sold, mainly to recover the loss
13:33from the first trade.
13:37All
13:43right, hopefully you can see my thesis
13:45of the bounce setup was very valid.
13:47Those of you who think you shouldn't be
13:48trading at the open, this is proof that
13:50you need to remove that archaic rule
13:52from your playbook. Please do not listen
13:54to traders online who try to tell you
13:56you can't trade the first 15 minutes, I
13:57think it's absurd. At the end of the
13:58day, all that matters is volume and
14:00technical analysis. That's really all
14:01that matters. And uh like I said, this
14:03was a key pivot area. Um, but you know,
14:05this trade we took here, albeit a late
14:07entry to the bounce, but it doesn't
14:08really matter. It didn't really work.
14:10Uh, we simply had to wait for that
14:11sweep. Came back, swept below to 30,220.
14:13Like I told you, once it started to pull
14:15back, I said, I'm watching for a bounce
14:16for calls. I'm watching it at 234. And I
14:19told you, I liked SPY strength and
14:20Nvidia strength. I liked how Nvidia was
14:22reclaiming its pre-market low. Uh, and
14:24obviously we have the entry. So,
14:25beautiful entry, beautiful criteria
14:26here, beautiful sweep of the level uh at
14:2865 points profit.
14:42All righty.
14:46So, remember, you've been hovering up
14:47here for quite a while. You got plenty
14:48of time to be taking profit, guys.
14:50Plenty of time to be taking profit.
15:01You guys like that bounce trade? I know
15:03bounce trades are scary, guys. Trust me,
15:05I know they're scary, but you guys like
15:06seeing those work in real time. It's
15:08pretty cool, right?
15:14Let me um hold on. Let me pull the chat
15:16room up in case you guys have some
15:17questions right now. Remember, we're
15:18just waiting for 30,333
15:21if we clear. Remember, 30,300 in general
15:23is that rejection spot. So, please be
15:25cautious of that. That's why we're 90%
15:26out of the position. All right,
15:30good. Appreciate it, guys. Christopher,
15:32Alejandro, Nick, Jason, appreciate it. I
15:35really appreciate it. Another payout,
15:37Jason. Awesome. $3,400 payout. That's
15:40beautiful.
15:41Absolutely beautiful.
15:47All right, this is 78 points profit. I
15:49see a question basically asking if I
15:50should take a full exit if I'm down to
15:52my last 1 MNQ. In my opinion, because we
15:54took a loss, yes. Yes.
15:58If if we hadn't taken a loss the first
15:59trade, I would say let it ride. I would
16:01say you could place a trailing stop
16:02somewhere of your choosing and trying to
16:03hit 30,333 for that 100 points profit
16:06target. But look at Nvidia. I'm sorry,
16:07uh S&P. S&P is forming a double top
16:09rejection right now. All right. This is
16:10the area, this entire area we're
16:12concerned about a possible rejection. Um
16:14so you just have to start trading the
16:15chart. Yes. But also we do need to be
16:17realistic and understand hey we have um
16:20we we already took because this is 80
16:22points we already took a loss to start
16:24the day. So, you do want to be realistic
16:25and say, "Okay, well, how do I more how
16:27do I focus on good capital retention
16:28here, not only recover my loss, uh, but
16:31also maximize the profit potential, and
16:32that's with a trailing stop-loss and a
16:34profit target in mind, uh, but don't
16:36have your trailing stop loss, you know,
16:37be five points away, right?" If you're
16:39like, "All right, I'm going to put my
16:40trailing stop at 30,300." Well,
16:42you can't be upset then when it pulls
16:44back and hits your stop loss, correct?
16:45Because there's a high probability that
16:46happens. Just like if you said, "Okay,
16:48my profit target is 30, 314." Yeah,
16:50there's a high probability that happens
16:51as well.
16:53Tesla [snorts] with a nice break and
16:54retest to that pre-market high right
16:56there.
17:01All right, I'm going to take another
17:03scale out position here just because of
17:04how well these contracts moves. They
17:05gone from 230 to 266 a contract. So,
17:08it's right at about 83 points profit
17:10here, folks.
17:14I'm just going to keep adjusting this,
17:15but just remember we took the majority
17:16exit around 65 points. Okay,
17:22I might myself I might skip the trim at
17:24100 unless I see these contracts break
17:25$3 a contract. I'm looking for $3 a
17:27contract next. So, if I can't get that,
17:29I'm not uh I'm not really going to scale
17:32out again personally on the QQQ calls.
17:42Good job, Kieran. Yeah. Yeah. Close it
17:44out,
17:45Kieran. probably uh you're probably
17:47referring to the first trade. The first
17:49trade was probably um that was a little
17:51quick, but it was a loss, right? And it
17:53came back to the entry and like I said,
17:54I said there was quite a fight there on
17:56the volume on the order book. That's why
17:57I tell you guys out loud what I'm
17:58seeing. Um just so you guys are fully
18:00aware and you can see. All right. All
18:01right. Let's uh let's do it. Let's scale
18:03out, guys. That's 100 points profit. Uh
18:05got 291 a contract here on QQQ. Gave me
18:07the push I wanted to see there.
18:11All right. Okay. Perfect. Absolutely
18:14perfect. Um, so and some people might
18:16ask, "Hey James, like is there a way we
18:18could have avoided that first loss?"
18:19Like, or is there a way we could have um
18:21is there a way we could have sold sold
18:23when it came back to the entry and you
18:25said, "Hey, this is really tough. We got
18:26a lot of sellers coming in, a lot of
18:27buyers coming in. We're back to the
18:28entry. If you don't like it, you can if
18:29you want to exit, that's fine. If you
18:31guys remember hearing me cue that,
18:32obviously, I held my trade. I took a
18:33loss there." Um, here's how I view it.
18:36Trades like that when they come back,
18:37sweep and bounce about 10 15 points. Um,
18:39a lot of times when the confluences are
18:41lined up, they do they end up working
18:42straight to the top side. Uh, so that's
18:44why I decided to hold my trade. I still
18:45liked what I was seeing um on the tape
18:47and I still liked what I was seeing with
18:48our confluences. Um, so that's just one
18:49thing you need to be thinking about. Uh,
18:51all right. This is the the last the full
18:53exit for a prop firm.
18:56Uh, and here's the beauty of your
18:58contract, your last contract, selling it
18:59up here. Here's the beauty of this first
19:00trade. Let's say you take a 30 point uh
19:0230 point loss on the first trade with
19:03me. And let's say that um let's say you
19:05lose $600. All right, on the first
19:07trade, let's say you're risking 600 to
19:08make 1,200. Okay? Or let's do 400 bucks.
19:11That's more realistic. you're making
19:12$800 on a winning trade and $400 on a
19:13losing trade, right? Um at that point,
19:17um when you sell for your last contract
19:18up here for 200 points, you cover half
19:20your loss. So half your loss from the
19:22first trade was covered simply from the
19:24uh the one runner. Isn't that pretty
19:26cool? Like just do the math in your
19:27head, guys. Do the math in your head. Uh
19:29that's the next spot I'm waiting for for
19:30a trim. Oh my gosh. Never mind. I'm
19:32scaling out here. Oh my god. Do you guys
19:34see this? 368 a contract. Oh my
19:38goodness. That jumped 70 cents on that
19:40little move. These contracts are just
19:42skyrocketing.
19:43Okay, that's
19:45that's pretty freaking cool right here,
19:47guys. That is incredible.
19:49Oh my goodness. All we did was move
19:51another 33 points, but they flew that
19:53much.
19:55All right.
19:57Oh, part of me just wants to sell the
19:59whole thing here. All right, here's the
20:01deal. I have 50 contracts left on QQQ.
20:03I'm going to space these out as much as
20:04I can because we're moving so well. We
20:07are moving so well here. I'm gonna let
20:10this position really breathe from here.
20:12So, if you're trying to stay in this
20:13with me, just keep this in mind. I'm
20:14being pretty aggressive here. My next
20:16position, we got to break this out to a
20:184 hour chart really quick. Bear with me.
20:20Anyone that was looking at my chart for
20:21the other stocks, just give me a second,
20:22guys. All right,
20:26we're going to have to remove the
20:27drawings.
20:3330 Oh, that's a lot. James, that's
20:35brave. We're doing it. 30,523.
20:38That's what I'm going for next. Okay,
20:40you don't want to do that with me. I
20:42understand.
20:44Let's see. 523 will be the full PT. I'll
20:48scale out again at the order block.
20:50Okay. So, I'll scale out just shy of the
20:52order block around 30,460 and then
20:5530,520.
20:58All right. All I have got 50 contracts
21:00left. I'm going to let these guys try to
21:02do their thing. All right. I'll place a
21:04trailing stop somewhat in profit, but
21:05nothing crazy. Probably I would say
21:08probably around a $1.90 a contract.
21:11Yeah. So, I'll place my stop loss at
21:13$1.90 a contract on the QQQ 728 calls.
21:16Okay, guys.
21:18Sean
21:20Nishan says, "I allowed you to talk."
21:22>> Uh, hello. Can you hear me?
21:24>> Yes, sir.
21:25>> Hi, James. How are you?
21:26>> Good. How are you?
21:27>> Good. Good. So, I'm going to be honest
21:29here and I actually fumbed into this
21:32trade to be honest. I had a 20 point
21:33late entry and
21:35>> I honestly think I shouldn't have taken
21:37this trade. It again it was it was
21:38wonderful. I've taken full exit and
21:41>> I just want to ask how do I avoid this
21:43FOMO cuz this is like the main thing
21:45that I've been losing a lot recently in
21:46the month of September.
21:48>> Okay. So, first off, I want you to walk
21:50me through what was your process? Um
21:52what was your thought process? One, when
21:53I was ignore the pre-market because I'm
21:55assuming you're here for premarket. I
21:56want you to tell me your thought process
21:57once we got stopped out. Did you take
21:59the first trade I'm assuming with me?
22:00>> Yeah. Yeah.
22:01>> Okay. So once we got stopped out and you
22:03hear me going, "All right, let's let's
22:04watch to see if we can start to bounce
22:06and if we can reclaim 233, I'll be
22:08interested in longs." Walk me through
22:09your pro thought process when I entered.
22:11Tell me why you didn't enter and then
22:13tell me what you saw because it might
22:14not be FOMO. We can we can dissect this
22:16here and tell me what you saw that made
22:18you enter the trade.
22:19>> Okay. So for me, what I saw after we got
22:22stopped out, I saw that we were
22:23respecting that one minute like it was
22:25very small for your value gap. I'm not
22:26sure if I'm pretty sure you use those,
22:28but I used as like just a small extra
22:30confluence. I saw that we're respecting
22:31that, but I also saw that we had a hard
22:34rejection on in that first trade when we
22:36hopped in. So, I was just waiting to see
22:37if we first if we get to that point with
22:40strong volume and if we have good
22:41orderflow on time to sales and just from
22:44that, that's where I feel like that's
22:46why I entered late.
22:48>> Okay. So, it might not be a late entry.
22:49It just sounds like that was your entry,
22:51right?
22:51>> So, where was the entry exactly? What
22:53was the number
22:54>> exactly? It was Let me check right now.
22:58Um I think it was at
23:0130,250.
23:04>> Okay.
23:0630,250. All right. So once you entered
23:09at 30,250, where'd you place your stop
23:11loss?
23:12>> I had my stop loss at that one minute
23:14candle low. So or I think it was around
23:1630 points somewhere around there. I to
23:18be honest, I forgot.
23:18>> The previous So this large green candle,
23:20you had your stop loss below this.
23:21>> Yes, sir.
23:22>> Okay. Not bad at all. Right. That looks
23:24like a 28 point stop. All right. So once
23:26you entered this trade, walk me through
23:27your thought process. Was it a good
23:28position size? Did you enter with the
23:29same size as the first trade?
23:31>> Yeah, I entered with the same size as
23:32the first trade since I saw that we have
23:33good volume and good momentum on the day
23:35so far.
23:35>> Yep.
23:36>> And enter the same size trimmed out as
23:38usual. So I trade futures. So I trim one
23:41contract at 30 points, two at 60 points,
23:44and leave one runner for however long it
23:46does until my stop loss.
23:48>> Okay. Um, so what was the net ROI on
23:50this trade said and done? And then what
23:52was the net loss on the first trade? The
23:54first trade I lost 240 because I have I
23:56entered with four uh four MNQ and a 30
23:58point set stop loss. And then my net ROI
24:01after I exited was $300 on the day
24:03green.
24:03>> Okay. So you're up $60 on the day.
24:05>> Uh 300.
24:07>> Oh, your net after exit. Yeah.
24:10>> Okay.
24:12My opinion, you I think this is just a
24:14classic comparison thing right here.
24:15You're simply comparing to my entry and
24:17my trade idea and saying you fomoed into
24:19this trade and you were late. In my
24:20opinion, you are already setting
24:22yourself up to take a different trade.
24:23Correct? Because you and you're right.
24:24You're using fair value gaps. Um, by the
24:26way, I don't think anything of those.
24:27Like, if you're going to use that,
24:28that's great. Don't think just because I
24:30don't use it, it's not valid. Clearly,
24:31it was valid today for you. Correct. So,
24:33you're already setting yourself up to
24:34take a different trade because you're
24:35saying, "Okay, I see a harsh rejection
24:37right where we entered." And you're
24:38correct. It pulled back 15 to 20 points.
24:40It came back to our entry and then just
24:41straight dumped. Right? So, you're now
24:43watching for basically a sweep of your
24:45fair value gap, bounced, and then a
24:46reclaim of a level you're looking for an
24:47entry. you just didn't like the idea of
24:50using 233 as an entry probably because
24:53that would not have confirmed a bounce
24:54of your fair value gap. You're probably
24:56thinking your head, I want to see a
24:57stronger move or a stronger bounce of
24:59that fair value gap before I actually
25:00look to get into my position. Uh so in
25:03my opinion, you didn't FOMO into this
25:04trade. If you compare it to me, yeah, it
25:06can look like that. But to me, it looks
25:07like you were just looking for a little
25:08bit more confirmation on your entry. And
25:10the way you handled your trade, in my
25:12opinion, tells me that that was truly
25:14your own trade idea. It just happened to
25:15line up a little bit with mine. And you
25:18did a great job.
25:19>> All right.
25:20>> Sounds like in my opinion, it would have
25:21been FOMO if you sold it right away.
25:23Like if you entered and you were like, I
25:24shouldn't be in this trade. Okay, I'm up
25:25$30 on the day. Like, I'm back in the
25:27green. Let me sell the whole thing. I
25:28would then probably assume it was a FOMO
25:30trade because you're telling yourself
25:31the whole time, I can't believe my trade
25:32went into profit. I knew I should have
25:33got into this trade. I'm just going to
25:35take the green because I'm lucky because
25:36I know I shouldn't have entered. But it
25:37sounds like you had conviction behind
25:38the entire trade based on how you scaled
25:40out of it. I think you did tremendous,
25:42my friend.
25:42>> All right. Thank you, James. I just
25:43wanted to clear that up, you know,
25:44because I deal with that a lot.
25:46>> Oh, yeah. No, I totally understand. Uh I
25:47mean I still struggle with it right last
25:49Monday. Do you remember last Monday when
25:50we uh had that big move off the open
25:51that I that I skipped and then the entry
25:54I got in I cut it early.
25:55>> Yeah, I remember that.
25:56>> Yeah, I had FOMO that day too, man. But
25:58what helps me avoid the FOMO to answer
26:00that one question you asked. What helps
26:01me avoid FOMO is I remember how many how
26:03much money FOMO has cost me, right? It's
26:06cost me more
26:07>> in terms of jumping into trades and
26:08getting burned than it ever would
26:09helping me. So I always remember that if
26:11I feel FOMO, I go, you know, I have been
26:13burned too many times by this feeling.
26:14So that's one of those things that I
26:17have to keep in mind.
26:18>> I'll try to keep that in mind. All
26:18right.
26:19>> Yes, sir. Thank you.
26:20>> All right, my friend. Of course. Have a
26:21good one.
26:22>> You too.
26:23>> All right.
26:25So now [snorts] guys, the main thing you
26:28want to be thinking about um with trades
26:30like that with with possible fun. All
26:31right, you are Oh, if I can select you.
26:35You are up, Leo.
26:37>> Yo, what's up, James?
26:39>> How are you? How are you, my friend?
26:41>> I'm so good, my friend. So good. Good to
26:44hear from you. So, how can I help you
26:45today?
26:46>> Yeah, so actually one thing uh I've been
26:49kind of struggling with today was a like
26:51a great day. Uh I'm I'm using like your
26:53uh order like volume reading strategy or
26:56like what you know about it.
26:58>> Okay.
26:58>> And uh I applied to it to my like range
27:01strategy and today we had a really good
27:04range here. Uh, I was looking for calls
27:07after we tapped like the 30,220
27:10level around there and we were starting
27:13to push. Uh, I think I got like 1 second
27:15literally uh before your call out. So,
27:18basically probably the same time. Uh,
27:20>> I was holding it. You said you caught
27:22it, but my strategy said that uh it's
27:25still like my stop hasn't been triggered
27:26even though I think I was down like 25%
27:28on the option contracts.
27:30>> Oh, you're saying when I stopped out,
27:32you were still holding the trade.
27:33>> Yeah. Yeah, exactly.
27:34>> Okay. Yeah. So, like for me, a lot of
27:37the times like at least like like you've
27:39said with options, they're like super
27:40difficult and I've been trading zero DTE
27:44>> and like a lot of times I end up holding
27:46because um my my setup is still like
27:49valid, you know, cuz I haven't been like
27:51technically stopped out even though I
27:53might be like down 30% if you know what
27:55I mean. Uh
27:56>> yeah. So, I'm just like thinking cuz
27:59with usually we get in like pretty early
28:01in these trades and there's like the
28:03time DK and like the IV crush. Would you
28:06still like how would you proceed with
28:07this kind of like position? Would you
28:09still try and like exit around that
28:12maybe 20% stop loss and just look for a
28:15re-entry or would you hold it or would
28:17you even like for example for me I was
28:19thinking should I just move you know for
28:21a later uh expiration date so I could
28:23just hold them longer. I think that's a
28:26great solution. That's what I did in the
28:28beginning. Um, and I had a very fast
28:30acceleration curve in the beginning as
28:31well. So I uh mainly due to my
28:33background with trading with equities to
28:34start with, right? I wasn't like a brand
28:35new trader. Whenever I would whenever I
28:37would join these other discords, you
28:39know, everyone's fully aware I was in
28:40other discords as well. Uh, you know,
28:41ranging from 2021 to 2023 basically. Um,
28:45so the one of the things I noticed the
28:47most was the best way to grow as a
28:49trader is taking information from all
28:51these places and applying what works to
28:53you and what doesn't. You just you shove
28:54it off to the side. Hey, I tested the
28:56theory. That doesn't work for me. Move
28:57on. Let me But this did work. Let's take
28:59that in. My opinion, what really worked
29:00for me was the technical analysis
29:02perspective, trading the chart, what
29:04you'll hear me say all the time. But I
29:05get invalidated because the contracts
29:07are too aggressive. Zero day expiration.
29:08I'm at negative 30% and I'm like, well,
29:10I have to be realistic. I can't take
29:11just a massive hit on this trade. Um,
29:13but my trade makes sense. Now, if if you
29:15find that happening quite often, I would
29:17challenge you to possibly explore
29:18explore trading a one day or a two-day
29:20expiration contract instead because
29:22sometimes it gives you just enough
29:23wiggle room. Now, if you trade end of
29:24the week, which is what I did with the
29:26S&P 500, in the very beginning, I was
29:28green on Tesla, mainly because I took
29:30Tesla trades on my own and I was red on
29:32the S&P 500 because I was in Discord
29:33groups, you know, um I'm not going to
29:35name the names, but I was in Discord
29:36communities where I follow the call
29:37outs. So, that's kind of how I knew,
29:39right, they weren't great because I was
29:40like, well, on the S&P, I'm red and I'm
29:41only taking trades based on the call
29:42outs that these guys give, but on Tesla,
29:44I'm green, which are my trades. So,
29:46that's when I started to deduce, well,
29:47the thought process I'm having on the
29:49S&P work, right? It's just we get
29:51stopped out before they work. So, I
29:53started trading weekly expiration S&P
29:55500 calls. And before I knew it, I just
29:57went for simple two two to one
29:59risk-reward, sometimes a one to one. Um,
30:01but I was back in the green in about 6
30:04and a half months, I think. Don't quote
30:05me on that. It it wasn't that long. And
30:07I had recovered all my losses on the
30:09S&P. And I was like, okay, I just needed
30:11room to breathe. And that's because
30:12Tesla was the same. Tesla back then, the
30:14contracts were 5day expir or 4 day
30:15expiration. So Monday, Tuesday,
30:17Wednesday, Thursday, basically I would
30:19scale into zero day-day expiration
30:21positions. Um, and Fridays I knew those
30:23were my big days. I was like, "Okay,
30:24these are the days I can make a lot of
30:25money." Whereas a Monday, I'm I'm really
30:27happy with 20 to 40% on Tesla because of
30:29how they expire. So, from your
30:31perspective, I love what you're doing
30:32because you're saying you're trading the
30:33chart, right? This morning, you said you
30:34completely avoided a stop loss, unlike
30:36me, because you're looking at the chart
30:37and you're like, "My trade is still
30:38valid. There's no reason to take a stop
30:39loss here. I'm going to hold it."
30:40Meanwhile, I'm of the opposite. I'm
30:42going, "Nope, that's my 30 point stop. I
30:44got to respect it. I'm just going to
30:45look for a re-entry." Uh, there's pros
30:46and cons to both. I could find a bunch
30:48of pros that fit my narrative. I can
30:50find a bunch of pros that fit your
30:51narrative. You just you just need to ask
30:53yourself
30:54>> what's going to cause you the least
30:55amount of stress in the long run and
30:56what's going to make you the most amount
30:57of money on a consistent basis in the
30:59long run. I prefer consistency over, you
31:03know,
31:05I would say like just making sure it was
31:06always uh I want to make sure every
31:08trade I take is a big win. I know I'm
31:09not going to see that. I would rather
31:10have consistency. I would rather come in
31:13get some small wins here uh some big
31:15wins here and a lot of normal size
31:17trades as opposed to hey let's just
31:19leave this trade uh up up to the my
31:21technical analysis I might take a 50%
31:23loss and then I take it and I'm like oh
31:24okay it was invalidated on the chart but
31:26now I need two winners to make that back
31:27like this kind of sucks because I know
31:29that's going to mess with me mentally.
31:30Does that answer your question?
31:32>> Yeah. Yeah, it does actually. Like I I
31:34totally agree with the mental aspect cuz
31:36these days I feel like I have to think
31:38about like what am I losing in this
31:39trade like capital wise like what am I
31:41ready to lose and also like how much it
31:44cost me emotionally if you know what I
31:46mean cuz I know if it's a really hard
31:47trade like it's it's a hard trade in a
31:49sense that
31:50>> like everything in me is saying come on
31:52just just sell it like it could dump
31:54here just sell it like you're just 10%
31:56down or whatever you know it's taking
31:58too long maybe you should sell it and
31:59I'm like oh it's still like it still
32:01hasn't broken like my stop right Syria
32:03technical like analysis wise and I'm
32:05just holding it and holding it and then
32:06it pushes through like a lot of those
32:08trades last week were kind of the same.
32:09I think you were also in some of the
32:11same trades I was in. It was like a it
32:13was a hard hold like these zero DTE with
32:16their time DK. It's sometimes it's like
32:19soul crushing and then it like it breaks
32:21out and you almost are like of course I
32:22feel happy and and like satisfied in a
32:25sense but then at the same time I feel
32:26like
32:27>> was this trade even worth it? Like I
32:29feel like my heart is like it can't take
32:32this brother. I then I just have to like
32:33stop trading for the day even though
32:35there might be some good setups. Not in
32:36the sense like I don't feel I've been
32:39very emotional before but not so
32:40emotional like these days but still you
32:42know I feel like after those kind of
32:45trades because there is still some kind
32:47of emotion like some a lot of like small
32:50decisions to be made looking at the
32:51volume and looking at the technical
32:53analysis and thinking okay well is this
32:54a like sign of a reversal or is this
32:56invalidating my setup and you know I
32:59feel like there comes like a decision
33:01fatigue after that if you know what I
33:02mean even though it's just like one
33:04trade But yeah, uh what do you think
33:08about like you you you were talking
33:09about scaling into positions. Uh I've
33:12done that like usually when I take
33:14reversal trades, I I scale in, you know,
33:16I have a couple levels where I'm scaling
33:17in and if it goes like uh before I get
33:20to scale in fully, well then I'm just
33:21going to make some profit. Like I don't
33:23mind. But what do you think about like
33:25in these kind of trades, one of the
33:27convictions that helped me stay in it?
33:28But sometimes I think like you you you
33:31have a lot like better read on those.
33:32I'm not like that sure yet. Like I can't
33:35put too much trust into it because I
33:37think like I I might be wrong more more
33:39times than I'd want to admit, if you
33:41know what I mean.
33:42>> Yeah, that's okay. It's all part of the
33:43process.
33:44>> Yes, sir.
33:45>> All right, my friend.
33:46>> All right. Thank you so much.
33:47>> Appreciate it.
33:47>> Yes, sir. Thank you. 1% better, bro.
33:49>> That's right. 1% better.
33:51>> Let's go. Thank you. Thank you.
33:52>> Thank you. All right, guys. Great great
33:55uh session today. So, um we're back up
33:59here 3,500. I'm pretty much I'm pretty
34:01much um selling uh 20 of the contracts
34:04here. I want to sell some a little bit
34:06shy. 30,500 whole psychological number.
34:08Uh great hold to this trade in this
34:10level. Uh we went straight through the
34:11order block which is nice. So this is uh
34:13270 points profit here, guys. Absolutely
34:15beautiful. So hopefully hopefully me
34:17zooming out on the 4 hour and showing
34:18you guys what my game plan was once we
34:20hit 135 points profit. You guys heard me
34:22talk about the contract values and I'm
34:24like, "Okay, hold on a second. Let me
34:25zoom out real quick and see how we can
34:26really stretch this trade." Uh and as
34:28you can see, that conviction played out
34:29perfectly. that was simply because of
34:31the strength on these QQQ contracts. Um,
34:35and that's you guys heard me giving that
34:36in that example. It's one of those
34:37things that really helps determine how
34:39long you should hold the trade for or if
34:40a trade is going to work very very well
34:42uh by letting those contracts breathe
34:43and let those positions do their things.
34:45Um, and when I see the contracts do
34:46poorly, it tells me, hey, I shouldn't
34:48really bother with this. Like, I need to
34:49scale out quick. I need to scale out
34:51now. Okay, just to give you guys some
34:52reference right here on this last sell I
34:54just had,
34:56it's 390% profits. That's how good these
34:59options contracts are moving. All right.
35:01So, that's why you heard the conviction
35:03for me today once we hit 135 points. I
35:05mean, that could have just been a whole
35:06separate day trade for some of you. I
35:07saw, but that's why I'm like, hey, I
35:09think this should be able to come up to
35:10this 30,520 level. Like, the contracts
35:12are showing me, they're painting the
35:13picture here. So, uh the reason I've
35:15sold early, I've sold 20 points early is
35:17simply because of the uh whole
35:18psychological number and the nature in
35:20which we've reached this level. the
35:21nature in which we've reached this
35:22level. Okay. Without with how, uh,
35:24Nvidia is diverging from us. Um,
35:28uh, we got a double top point of control
35:29here as well. I just rather sell a
35:31little bit early, take my profit where I
35:32can. So, um, can't have too many people
35:36on the mic. Obviously, I saw there was
35:38so many of you that raised your hands.
35:39You know, I'll try to get to you guys
35:40and I'll try to make sure I don't
35:41duplicate people each day. So, you know,
35:43I can give people a fair chance of
35:45talking at least once a week if they can
35:46get on board. Um,
35:49really crushed it today. really good job
35:51today, guys. You guys absolutely crushed
35:52it. Love the gifts, the Star Wars, the
35:54baseball, the Goku. Um,
35:57the main thing I would say going into
35:59the rest of today, all right. Um, don't
36:02be surprised if we encounter some type
36:03of a pivot between 30,500 and 520. So,
36:06if you see a 100 point pullback, don't
36:08be shocked. I don't want you to think,
36:10you know, oh, this trade is completely
36:11over. It's cooked. It's gone. It's done.
36:13Or, oh my gosh, it's rejected 100
36:14points. This is the reversal. I'm going
36:15to get into puts, right? All these
36:17decisions have to be made besides just
36:19the technical analysis. You have to look
36:20at your confluences. You need to look at
36:22where you are in relation to strong
36:23pivot levels, point of control zones,
36:25your volume, how it's aligning, things
36:26like that. Okay. Um,
36:29uh, yeah, we hit 683 of contracts. So, I
36:31mean, the these are these are nuclear
36:32trades. Absolutely nuclear. Um, and it's
36:35days like this that I talk about with
36:36you guys about letting runners run. I
36:38could I could technically
36:43I could technically take
36:46uh I'm trying to do the math here. I
36:48have to look at how much I made.
36:53Wow, I sized down too.
37:00So, I'm as of right now, if these
37:02contracts, these open contracts don't
37:04matter, right? I've made $187,000 on
37:06this trade. So, technically,
37:09I could lose technically all roughly six
37:12trades in a row. I could lose the next
37:14six trades in a row and this trade would
37:16pay for those six losses with the same
37:18position size as this trade.
37:20Obviously, if I size super super heavy
37:22and I'm risking like $60,000, that's
37:23totally different story, right? But um
37:26just something to keep in mind. So,
37:27letting your runners run, it does
37:28benefit you quite nicely. You guys know
37:30that's why I personally scale out of
37:31positions. Um I know 2:1R traders, 2
37:35to1r trades in general are great for
37:36beginners because it teaches you
37:38discipline. It teaches you um that a
37:40winning trade can easily outweigh a
37:42losing trade, which nobody really
37:43believes in the beginning, especially if
37:44people start out trading by scaling out
37:46because they just end up scaling out way
37:48too early and they have terrible net
37:49ROIs. For instance, you'll lose $200 on
37:51trade one and then trade two you'll get
37:53into it and you'll make you'll make $140
37:55and you're like, "Wait, what? How am I
37:56still red?" It's just because the nature
37:58of which you handle the trade. So, those
38:00are things you just have to keep in
38:00mind. Okay, guys. Um
38:04great [clears throat] first day, though.
38:05And like I said in the pre-market today
38:07and the last two days, we should expect
38:09the market to start to open up a lot
38:10more. Um, and you know, that's what
38:12September, that's what the summer does.
38:14The summer in general, um, August and
38:17September, I notice it wipes out a lot
38:18of traders, you know. Um, I had a few
38:20people quit last month and there's
38:22nothing I can really do to help those
38:23people, right? And and sadly, the really
38:25tough part is those people do go on and
38:27they go out in the universe and they
38:29badmouth trading. They go out and they
38:30say, "Hey, trading is is bad. It doesn't
38:32work." and they're basing it entirely
38:33off of a one or two month experience of
38:35giving trading a shot. They don't give
38:37themselves actual time to become
38:38proficient at the subject. Um, so just
38:41keep that in mind when you approach day
38:43trading and when we get back around to
38:44this time next year. All right? It it it
38:46usually is pretty choppy in the summer.
38:48Okay? Uh, you hear the term sell in May
38:50and go away. That's for professionals.
38:52Sell in May and go away. Everybody goes
38:54to the Hamptons, they take their time
38:55off, they come back, they start
38:56liquidating positions, you know, so it's
38:59one of those things where the volatility
39:00really slows down. Um, and it's
39:01something you need to keep in mind. All
39:02right, but this is where the market
39:04starts to pick back up. This is where
39:05the market starts to look like this
39:06again. So, now is not the time to slow
39:08down. Right? Now is not the time to be
39:10giving up. Now is not the time to be
39:11quitting. You basically walked you
39:13walked through the fire and then now
39:15you're about to come out of that out of
39:16the cave and you're about to come into
39:17heavenly bliss of massive moves. Not
39:19every day, but definitely more
39:20frequently. Definitely more frequently.
39:22Um, so just keep that in mind if you've
39:24been having a hard time and you're like,
39:25"Dude, I think I'm going to call it."
39:26You're calling it right before it gets
39:28good. All right. Have a blessed one,
39:29everybody.