[00:51] real quick um so catalyst was uh earnings and the setup was a day two um i was looking for a first move up something i've really through on my plans and so last friday i was talking with kyle valance and i just
[01:07] little bit accountability until i get a group going and so we're kind of working together just so i can follow through on my trades and today it didn't work out and i'll go over that but something i'm really happy is about is that i followed
[01:20] through on my plans today my first my plan was to shorten their um and start i think i was going to be dead and start i think i was going to be dead wrong over 325 and i was um i'm down
[01:33] about 16 of a stop which is okay with me but um we had this first move up and i thought we'd get kind of a rollover like a typical day too but something that we saw today with a lot of these day twos is just really
[01:46] strong really strong moves up i mean we had a d-e-r-o-s-t really haven't seen that type of strength in day twos lately yeah
[01:58] and we just we just haven't and this is i mean look at this day two move this is a really strong day two move um and if we pull a borrow at t2 i mean that's another really strong those are just the two that i was looking at um and it
[02:11] didn't work out but i think the setup is still valid for but we just had a real strong i mean this was an atr move in what 30 minutes on this and something that else that i did i
[02:24] think i did really well with that i didn't sit and try to attack this again i did have a short scalp up here because i thought with the cues and the market rolling over but it didn't even roll over when the market was so um that's
[02:38] cautious enough and then we just stopped buying into here and so i just said i forget about it i'll watch it tomorrow for a possible day three set up but for a possible day three set up but um that was all that i took today so
[02:53] about it with uh you know previously because i shorted back with the strength the strength is surprising so you know it's one of those things
[03:06] information of what can happen and really like if we go a little more granular like what should happen on that trade when you get that first move up what should happen you should see a pretty quick fail
[03:20] i i didn't think that first move the first move up lower like the one almost into 320 right wasn't that like kind of our first level on those yeah 320 was yeah so i was kind of thinking like man couldn't that be like
[03:34] um and it started the rollover didn't it i yeah it did and then even lost v wet but then this move overview up was just it was a real strong move and it's just so different wasn't it yeah it was very
[03:48] very different and i bet you if you look at the charts of that and then uh the gme i i sort of remember gma trading a little more of a consolidation versus a these are things that you want to learn from i think because they're
[04:02] you know like as soon as you see that move it's sort of a boy hands off on sort of thing right because like we have our levels but it's that sort of price um or it can give you a lot of information
[04:17] about the potential of the tradition so do you see an opportunity like where would you have possibly flipped long on this you know that's where i asked i asked the diffuse guys to uh you know they had the tape on it and so i kind of
[04:30] want to watch the tape because i just i took the shirt off like that's it right i got blown out of my short and that's fine that happens see the tape
[04:43] and figure out like hey on this tape like is there a spot to get because maybe you're seeing buying above 322 well that's a really uncomfortable right but that's about the only consolidation
[05:01] watching it you could you know kind of make that change and make that trade but i don't i'm with you i don't necessarily see exactly what i needed to see in order to
[05:14] so it's tough too as i said obviously in hindsight you can maybe try to get into that 322 kind of consolidation period risking that 320
[05:28] area because look it holds above the resistance area for the prior day like resistance area for the prior day like cleanly at that 322 right like so ultimately is going to be the deciding factor on really seeing where because
[05:42] updating the narrative with it like you had the first move into the levels that we were looking at you had the failure you had it go back below open price view up everything that you were looking for for a rollover but buyers automatically
[05:56] stepped up and jeff like you mentioned buyers ultimately just went from 316.50 up to 324. so i think at that point that's where the update the narrative is updated and maybe the only thing that i'm seeing is maybe above the 322 area
[06:11] risking down to 320 but that's where the tape i think is gonna have to come in and really see what we can find um for actual kind of spots in my opinion and look maybe it's not even there's there's a spot in this one but even if
[06:24] you're better about like okay instead of losing tour you said you're down 16 of a one six yeah yeah so even if there's a way to cut it from sixteen percent down to ten percent well you saved yourself six
[06:37] of strength right it's not always about being able great long but it is about you know kind of learning from this experience because the part that's so unique about this trade is it did exactly what it was
[06:53] supposed to do and then that trade just changed damaging ones because sometimes i don't change the narrative right i get the short off at 320 and then all of a sudden it's like 323 and i'm like yeah
[07:07] it's probably a better short but like over time if you can do a better job of or i need to do a better job of making sure i'm updating the narrative to respect what's actually happening
[07:19] the tape's trading and everything and if i'm doing all that stuff then i'm putting myself in a position to win right and it may not come in a long but it may come by just recognizing it being out faster like that's
[07:32] recognize and be out faster i think one thing that i was looking at just giving my my feedback as well um just based off kind of like evaluating or reviewing how i traded it personally i thought for me
[07:45] like it was i saw improvements because for me like what i've seen over the past like couple weeks now is that especially on these first moves up i i look to see too quick and so for me i was really
[07:58] trying to to fight for that price today like we we did have that at 9 31 we had like we we did have that at 9 31 we had that move up to like 3 19 59 and i was down and i was looking i was like shoot like do i get into it do i get into it
[08:10] keep on waiting i'm gonna fight for that price that 320 level was where i was originally looking at to get short um so i did see the improvement for me being able to withstand i guess you can say that that fomo kind of um
[08:24] thought process of okay maybe i missed my fill by 40 cents like do i try to get like a little sooner how do i go but i didn't end up waiting i fought for that price i got in that 320. i think overall one thing about what we were looking at
[08:38] is that between like the day twos um yes de did show that it did like it had the of v-wap whereas uh ross never even broke v-wap it did have a pullback but it never it sustained a move above v-wop and held
[08:53] the whole entire time whereas de was showing that weakness characteristic of it being able to um actually break v-wap as well i think for me so overall like i was only risking uh ten percent of uh of a
[09:07] stop on this i ended up losing only about three percent of a stop i i was once we saw that we ended up breaking bebop we made a new low but we were reclaiming once we broke through v wap i ended up
[09:20] new high i ended up getting filled right around the 322 area at 9 42 so i think for me like i did minimize that that risk um so i saw improvement for there but instead of actually letting the full stop go like against me
[09:34] and the amount of risk i saw the potential that okay i realized that this think for me i only losing three percent on it like i'm happy with that um but i think overall is that
[09:47] once we ended up breaking v-wap there at 9 40 i think could have just said okay this could be basically that trend and actually hit out for for a profit instead of trying to to take that three percent loss on it realizing that that
[10:00] we weren't basically able i think if you look at it um 3 17 50 right around there um so the way that it looked back you only had a pullback basically about a
[10:12] dollar below that and then ultimately just had a full trend for the day so i we talked about with with jeff with the tape is going back to that i think that right around in between like that 337 to 341 kind of really
[10:27] dive into that part of the tape itself um because that was really showing like where the actual characteristics of the of the day two were going to play out but ultimately did not so i'm that's one of the key key places i'm going to be
[10:40] looking at for the tape is that 937 to 941 area but i think overall is um looking back at it next is like uh for me i was saying if this thing's holding above 324 that was where my thought process was i was wrong with the trade
[10:54] so i think for the improvement once we actually did break that 324 level i'm not too sure how because like jonathan said maybe i guess the risk that what you could have said is that you look for a pullback from maybe like
[11:06] 320 ford holdings um like for me when you get the first move up into like that 325 area as you can see you can you're holding 324 and you can risk to the high the prior high of the day of that 320
[11:19] uh 321.84 which was the prior high at 9 41 once we actually broke so maybe get a pullback holding above 324 risking down to 322 basically for that high so i i'm kind of reviewing it is looking for
[11:34] basically that that flip of bias basically looking to to see how how to yeah and that's for both you guys i think you both get this because this is an example of a trade that gave
[11:48] you what you wanted and that it didn't work and neither of you are down more than 25 of the stock okay now you're even down 20 of a daily stop and these can be the trickiest trades because they give you everything you're looking for
[12:01] work and that's or they do work and then they don't work and that's a really really challenging thing to have happen in trading but it does happen a lot
[12:14] how you respond in that situation really says a lot about where the direction and click our subscribe button so you don't miss any of the videos they're community and please take the time to add your feedback
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