Ross loses -$275k Day Trading...🥵 BIGGEST RED DAY EVER | Recap by Ross Cameron

[Music] what's up everyone all right well um today is my birthday and i am down 275 000 it's the worst day i've ever had basically times three i can't it's ridiculous um i hardly even know what to say other than this is so stupid um even after doing this for as long as i've been trading i still underestimate the power of emotions a day like today which um you know any other day i probably would have walked away a lot sooner but you know today being my birthday i want to finish green and feel good about myself and i was up nicely on the day i then kind of you know i was chasing that big green day and went for that next big trade and boom back to break even jumped in another stock real quick was down 30 grand jumped in two others at the same time that's a mistake and well one of them went up the other one way down and i screwed up both of them so we're going to talk about those trades we'll do a little bit of a recap where i actually show you those trades but probably more importantly what i'm going to be talking about is the path ahead you know there there's nowhere to go but forward all i can do is uh make a game plan of how i'm going to dig myself out of this hole it's not fun i am grateful that i made about 900 000 last week and i'm in a position where if i was ever going to take a huge loss like this this is probably the best time it could happen so i'm going to try to be positive in my perspective and rather than be doom and gloom and just super sad you know and cry i'm just gonna try to you know rally ahead and i think that what you're gonna get a glimpse at is sort of the traitor mindset that allows me um to continually get back on the horse yeah i get knocked off the horse today was it particularly bad yes no doubt about it but i've had a lot of bad days in my career as any trader will and being successful long term requires resilience to be willing to get back up and try again so i'm gonna get back up and try again it's the only way forward i need to put this big red day in the rear view mirror but not without first talking about it understanding why it happened what i can do to prevent it from happening again and creating a game plan of how i'm going to start to rebound and not let the losses capitulate and roll into you know a huge drawdown over the course of like you know two or three weeks i need to stop the bleeding here today and begin the process of rebuilding tomorrow a video episode like this is a tough one to do because it's emotional this is a terrible i mean this is a terrible day for me it's a birthday i'll always remember um and you know it would be just probably easier to sweep this under the carpet pretend it never happened and just you know you guys know i made 900 grand last week and just leave it at that but that's not how we roll i show you my green days i show you my red days my broker statements are on the website so while it's fun to celebrate the big green days and i love having those and i love chasing those big winners days like today are equally if not more important to talk about because this is the reality of trading the ups and the downs and what i'm going through is the natural human response that probably anyone else would experience as a trader certainly trading on this level whereas the big deep green days are so big and then the big red days are also so big it brings out the emotions in a pretty serious way so i hope you guys please hit that thumbs up if you're not already subscribed the channel i hope you subscribe the channel transparency is important for me and that's one of the reasons i do these videos uh on the green days and the red days so a thumbs up is not a vote for you're happy i lost money it's a vote for the transparency and the honesty of doing this video um if you are happy i lost money well you can still hit the thumbs up but it's really a vote for coming out here and talking about something that's really hard is not fun uh one of the big challenges that i have with trading is that i'm doing it in front of such an audience that my wins you know are celebrated but my losses are so out there and that um you know that that's that's tough um and it creates more pressure of course now the pressure to rebuild in a really good way is even higher because if i don't then it just makes me look worse and it's embarrassing so there's a lot of pressure with this role and that's why i think a lot of people that would be in a role like this would just prefer to not be as transparent and not talk maybe as much about the winners or the losers because that sort of protects them a little bit and so i understand that but i've decided to do it a little differently so thank you guys for tuning in we're gonna get into the recap here i'm gonna run the intro and then we're gonna start breaking down my worst day of my entire career all right let's do it well we might as well do a red day recap here um it's my birthday and i'm sitting down 274 thousand dollars it's the biggest red day i've ever had uh what a mess well cpa cpsh got me the worst but today kind of things fell apart kind of quickly so i started the day on aacg with some decent trades here pre-market on this this was it was pretty strong i mean it really it really was pretty strong it was our leading gap during the entire market um you know it was a it was a nice nice looking stock it was moving higher the problem that i had what with it was there was no news but uh you know it did end up still making a pretty big move i'm actually read on it by 5 000 and that's upsetting because i was green about 27 000 on the day uh what happened on this one was i was up i think i don't know like 8 000 or so pre-market i don't really remember how much i was up the bell rang and it surges up to four and i jumped in for the breakthrough four and rode the momentum up up here to 480. got green on it was up about thirty thousand twenty seven thousand it does a pullback here i added uh right here in this candle for the break of five uh i don't i want to say maybe 50 000 shares uh and it it hit a high of 490 and then flushed down i stopped out gave back everything i made and was up only two grand on the day maybe that would have been the time to stop i then switched over to avxl because at the time cpsh had just squeezed up and got gotten halted and avxl was ripping up as well i got in it right here at 25 i bought 15 000 shares and it dropped right here and i stopped out with a 30 000 loss and just like that i was down you know 30 grand on the day so that was uh disappointing i did make a little bit back as it popped back up here but not a lot then i had a trade on wafu i jumped in this for the break of nine right here lost three grand on that not a big deal and then cpsh resumes from its uh halt it halts up it then halts coming down it resumes from the hulk coming down and i got long down here at like 25 26 whatever it starts to squeeze up and i added for the break through 30. now the problem was at that moment i was already in anvs i bought an vs going into this hall right here at uh like 30 75. so i jumped into it as it was squeezing up you know and that was a um that was a pretty aggressive trade but this is a stock that was also moving higher kind of like a-n-v-a or um av xl and also kind of like cpsh but it has a lower flow so i was like you know what i'm gonna go for it uh so i went ahead and jumped in it uh anyways it halt's going up i'm holding during the halt so i'm in that one while it's halted and that stock it's kind of weird so that stock was at the top of my p l here as you can see i guess at the moment it was the only one that i was had a profit on so i switched to cpsh i'm holding anvs halted i switched to cp sh and i see it squeezing up and i started hammering the buy button um right here i only had small size going into this halt on resumption and i'll do the 10 second chart on resumption i started just hammering that buy button and i didn't really think i was getting filled i was like what's going on i'm pressing the buy button i'm i'm i'm focusing on this but i'm not i'm i'm not seeing myself getting filled and i thought maybe there was an issue with my hotkeys i wasn't really sure what was going on well i was looking at the anvs position and i just didn't i just wasn't seeing the cps h position as it turned out i did fill 42 000 shares long at 29.21 i realized that sort of the moment it was tapping 30 and i was like what is going on i looked over and i was like oh my god okay let's see if it breaks through 30. you know if it breaks through 30 and we squeeze up to 3132 it's going to end up being an awesome trade so all right well that's not what i was expecting but let's see what happens and then it flashes down to 28 and i'm down 40 grand it flashes down here to 27 i'm down 80 grand and now amvs is resuming and i'm like okay well let me just let me try to manage the winner cpsh i'm in way deep on it but let's just let it do a one minute pullback let's give it a second and if it curls over 30 you know i'll be fine so let me just focus on managing the winner right now so i focus on this one it pops up to 34. i'm putting out orders to sell but i'm not i'm not seeing anything filling again the problem there was that my active orders window was filled with all my cpsh orders because i put cpsh orders out to sell if it came back up to 29 to break even i was like you know what if it gets back to break even just unwind it so i put all those orders out there so my orders were stacked so just for instance if i do a test stock zvzt um and well i can't i'm below my max loss so i can't actually trade it anyway so let's just pretend um so this this is stacked with sell orders or with orders so anyways my orders on and vs they're not going through and you know for all i know i might have put out an order to sell um you know i may have put out in order to sell the whole position and then my other orders weren't executing and so i'm just i'm like what what's going on so i'm fumbling with and bs and then i i look over and cpsh you know is just dropping it's now broken back below i'll just do it like this um it's broken back below the low here and it's halting going down halted going down at 25 and i'm down 150 grand biggest loss i've ever had so i'm like all right let's focus on and bs and bs here starts dipping and i try to sell it and i end up selling it for two thousand dollars of profit uh i was up i was up on it and then it came all the way back down to basically nothing and then when uh cpsh resumed i said all right stops at 24 that's the volume weight average price and i was um hitting the bid and unwinding it as it broke 24 for a 240 000 loss so you know 4 40 000 shares times five points you know it's stupid it's really really really unfortunate um this equity curve here i was sitting at um 800 000 on the year just knock that down to 500. i mean what what what an embarrassment honestly i feel like just taking the rest of the month off right now in this moment i feel like taking the rest of the year off i just feel like being done all right that's it i made 500 grand this year i'll come back in january next year that's how i feel that's how i feel right now you know because it's this is just such a so this is sort of the fight-or-flight response after such a big loss such a painful loss the initial instinct perhaps to fight and try to make it back uh maybe but right now it's more of just run away from it right you know and that's kind of that's the that's one those are your two paths for the most part with handling it with responding to a big loss when you have a really big loss you either you know try to fight back and revenge trade which is an emotional response or you just kind of run away and you're just like i'm i'm done for a bit but this is such a you know i mean listen i lost 95 000 on monday i made back a little bit on tuesday and wednesday and i was up thirty thousand dollars today i was up twenty seven thirty thousand dollars before i gave it all back on aacg and then jumped into a nvx or a n what is it av xl um for 25 and it was a huge seller and then dropped down four dollars a share and then ripped back up so you know i could have just held the whole av xl position right didn't break the v web could have just held it gotten back out of that flat but i would have had to hold that one down four points fifteen thousand shares i would have been down sixty thousand 000 which you know is not the right move i should always cut losses cpsh unfortunately through a combination of mishaps things went wrong i would say where did things kind of go off the rails today things went off the rails i mean i guess the my trigger was on aacg when i went from being up 27 000 to losing that at all and going back to break even on that false breakout and that drop right there that was that was my trigger uh immediately following that i fo mode into avxl to try to recoup those losses real quick and lost 30 grand and then after that i fo mode into waffu which you know i mean it wasn't but it just didn't work lost three grand on that and then i had a couple small trades on amv excel made back a teeny bit but it wasn't anything significant and then cps then anvs i jumped into that with big size going into the halt so i was aggressive on that one and my orders weren't filling very well and anyways i was in that on a sort of fomo entry now i ended up having the right move on it went from 31 up to 35 but i also had the trade on um cpsh which was a disaster now this was i mean it's tough because you know that set up there the breakthrough 29 typically i i do like that kind of setup it's actually not that much different from what avxl did a break through the highs and it's just my luck that um this one didn't rip to 35. you know if that ripped to 35 i'd be up 100 grand today and yes it would have still been the result of some fomo trades and poor risk management and a mistake on my share size but it would have been a fabulous trade it just didn't work the problem was my risk was way too high and in fact it was much higher than i even realized and that was because i was in two trades at once which i almost never do one of the reasons that i talk about being really careful with trading multiple you know multiple stocks at once is um your distraction your your focus is split in half so you know this is a perfect example of where that goes wrong and today was a day where i was chasing and [Music] i'm super disappointed i mean i'm super disappointed in myself this is um this is a terrible day this is just absolutely horrendous i can't believe it i i can't i really can't believe i i messed up that bad today but i'm going to go through the grieving process i'm in denial i can't believe it uh it's going to unfortunately man i've just destroyed this month it's february 4th it's my dang birthday and i've destroyed this month i've ruined my day i've ruined the the entire month what's even the point of trying to make it back i mean what's even the point i've just so badly screwed up this month um i was down 94 000 made back 40 and now i'm down 270. i'm down over 300 000 on the month that's i mean if i made three hundred thousand dollars this month this would have been a terrific month to the green side i've gotta make three hundred thousand dollars just to get back to flat i don't know um it's going to take a lot of compartmentalizing to kind of put this loss on an island let it live there let it be there fully accept that it is there and focus on trading the next few weeks based truly on what's right in front of me and not trying to keep you know because now that i've got this big loss i'm going to try to keep making it back making it back so you know the glass is no doubt half full i'm very very fortunate to be in a position where i could suffer that big of a loss and still look at my p l on the year and even if yes this is going to be a terrible drop i'm still up 500 grand still made 900 000 last week so you know will i bounce back yeah i will of course i will i always do but [Music] that's a tough pill to swallow there's no no doubt about that boy very small kind of momentary window with laps of judgment and a few just kind of share size mistakes which i shouldn't be making at this point in my career but i i was i was overwhelmed i think in the moment what was happening with being down 30 000 on the day and fomoing into that and vs trade with big big sizes i kind of was going into like tunnel vision and all of a sudden i when you're in that stage sort of heightened adrenaline um it can be that's where it can be hard to it's just hard to process everything at once so you know the best way to avoid that is to trade within levels that are not going to trigger you to get into that emotional state hmm so i don't know what else there is to say about today this was a disaster and i would say no doubt i feel far worse today than i felt good last week on the day i made 478 000 something i was thinking about a little bit yesterday is how the red days feel so much worse than the green days feel good um and i'm not i'm not happy about that um because it kind of means that my life is on this emotional continuum of you know just for just for reference um i see i'm kind of dark here but this emotional continuum of like um you know green day i feel i feel like moderately happy red day i feel terrible you know small green day i feel moderately happy a day like today i'm like off the chart red a day where i'm up 400 i'm like up here you know and then a day i'm down 200 i'm down here the feeling of being down 200 is exponentially more um more painful than the joy of being up 400. it's it's just a very interesting emotional battle so you know this is the very real uh the i think i think everything that i'm experiencing right now um i don't know why it's so dark i'm sorry about that but i think everything that i'm experiencing right now is the very real human battle human emotional battle of trading of trading the markets because trading is inevitably an experience of winning and losing winning and losing winning and losing you can look at um you know i'm a guy who made five million dollars last year i'm up 500 grand this year and i feel like uh garbage right now i i currently at this very moment feel like the lowest in my trading that i've almost like ever felt so i feel the same way as probably tom brady you know getting sacked on that pass that could have won the super bowl it's just such a feeling of defeat uh it's a it's a horrible feeling and yeah tom brady dude you're a millionaire you've got the life you've got a healthy family you've got you know everything you could possibly want but in those moments um no doubt he he feels uh it's a terrible feeling to lose the super bowl especially if you feel like it's the result of a um you know mistake or something like that um and so the feeling of of loss here um is no different uh and i suppose maybe the the struggle of being a professional athlete is a similar one where it's just that emotional struggle of oh my god you know i'm i'm constantly chasing those winning games and the feeling the joy that comes with you know getting to the finals or getting to the super bowl or whatever it is whatever sport you're playing and then it starts all over again the next year so i suppose the question is do you love the the chase and with trading um you know one of the whole things with warrior trading and being a day trade warrior is that um i've really believed that you have to be a little crazy you have to be a warrior you have you're battling the market every day and today i battled and i lost big bigger than i've ever lost before but even through talking about it here this is probably the best thing i can do because it helps sort of you know process the emotions come to some sort of um you know i have to live with this there's no i'm not gonna go kill myself there's no choice i have to live with this i i love my life you know i'm so i'm gonna live with this and so then the question is since this has now happened i either choose to live with it with deep regret and a lot of pain or i find a way to change the perspective you hear about people who have horrible life experiences who live in horrible conditions and they find a way to find happiness and so that's something that ultimately um through a loss however big it is you know whatever it is uh that we have to find and perhaps there is a way to gain some level of perspective where in these types of losses i don't um maybe get so upset with myself i'm i'm able to just say hey it's a cost of doing business um but that's not my initial reaction my initial reaction is extreme disappointment in myself my job is to come in every day and make money and so this is a day where i've come in and completely failed and um yeah but you know what if i if i contrast the way i'm feeling right now to the way i was feeling about a month ago if we go back to let's just go back to january 1st of 2020 i was feeling pretty stressed out there because at that point i was i was read on the year i was read over 100 000 on the year and i was like dude this is i mean this is unacceptable um you know it's it's fine to have a red month and that's okay you know if i ended up at some point having a red year it doesn't change you know obviously the fact that i've turned 583 into over 5 million bucks but it would be disappointing and it's certainly something that i hope doesn't happen so you know that that pressure at the beginning of the year um that i went into the red not just on the month but on the entire year that for me was really uh was really difficult and and the pressure is definitely compounded by the fact that i'm doing so much of this publicly so it's a it's a public my success is public my failures are public and um it's okay to have you know red days this day which is the red worst red day i've ever had it's okay to have this red day and it will be great for you guys to come back and rewatch this recap and everything else but they're okay when they're sprinkled in between lots of green days like last week if it was just a month whereas red every day or five red months in a row that's where it would certainly start to become very demoralizing and defeating to come in here every day and talk about it so today you know all things considered i actually feel i feel a heck of a lot better right now than i felt after the red day when i knocked myself to down 150 000 on the year so there's a little perspective maybe that's perspective that is only applicable to me and maybe it's not helpful for me to say that because i know that there's people out there many of you who maybe are in this still the same position of being read on the year and you're like well that's nice ross you can say you made 5 million last year you can say you're hey i lost 250 000 275 000 trading like an idiot but i'm still up five hundred grand on the year life is good i can't say that i'm red on the year uh and i i can understand that frustration i would remind you of a couple things um number one if you don't have any consistent profitability behind you then you really shouldn't be trading real money and i say that because once you have some consistent profitability in the simulator and then you switch to real money and you have some losses that's when you're able to say listen i am the same person that had these six weeks of profit building a simulator i can do this and that gives you that ability to pep talk yourself uh so trading a simulator improving some profitability in this sim before going live is important you know for uh for me right now you could say ross maybe you should go back to trading in a simulator um you know for a week or whatever just kind of clear the slate and yeah that might not i mean i don't know it i could do that um i i struggled to do that i think that there'd be a lot of criticism to me doing that uh ever trading a simulator i think people would just say listen what does this guy do in trading a simulator he doesn't he's he doesn't believe enough in his strategy so i i don't think i would do that at this point but uh i i don't mind you know i think i think what i have to do and what i ultimately need and what i was trying to do this week after that big red day on monday i was trying to just see if i could just have like you know just the white this way the slate and and i i did i was i was two green days i was a third green day and i had a great start to the morning i was up 27 000 and all i needed to do was just lock it up and and what i did today was i tried to roll the 27 000 into the next big trade and gave it back it was break even and then immediately immediately the emotion kicked in and i jumped into the next thing i stopped i saw squeezing and that's the thing about me that uh is so disappointing and and that's where i'm like man you you can't you you you know why did you do that so while on the one hand i could really beat myself up for that habit of jumping in aggressively and quickly on the other hand who i am is a collection of all of those parts of pers my personality the success that i have right now the profits that i have on the year there were the result of all of those behaviors that aggressiveness that willingness to be stupid aggressive perhaps on a stock like gamestop i mean i had two million dollar positions on this last week and you know what it paid off i'm net profitable as the result of this i think the challenge for me is just the question of um the emotional swings that come with the p l swings and i suppose the the hope that maybe someday i could trade without you know it would be so much nicer and less stressful for me just to make 5000 a day and not you know not have days where i make 500 and then a day where i lose 270 i mean why can't it just be steady but the market's never going to be like that some days are hot and if you stop at five you're leaving so much on the table and some days are cold and you'd struggle to even make five uh you know i could i could say oh i've made enough money i'm just going to go down to starting the trade with i'll just trade with 2 000 shares on everything so you know if i make money i make money if i lose money i lose money at this point i've made enough trading that i could just kind of just trade for the entertainment okay but then what if with just those 2 000 shares whatever small size i still manage to have a red month or a big red day am i not then going to just feel equally frustrated as i do now it's just the feeling of loss the numbers i don't know how much they really change it to be honest um so i don't know anyways um this has been a terrible this is the i mean last month was the worst start to a month i'd ever had and now i've one up to myself here i've given myself a huge project for the entire rest of february and it might take me six weeks it might it might literally take me six weeks or longer to get back to flat after today you know i mean i yes certainly if we do continue to see some of the volatility that we've seen i don't know i mean who knows but assuming that it's going to take me probably to the end of mid-march or end of march to make it back at this point i'm going to have no choice but to just buckle down um you know and this is where in contrast to a game where my only my only hope right now for closing february flat is to hit you know four is to get four hail mary passes and then a 75 yard field goal that's the only chance so given the fact that um this game really doesn't end at the end of the month it's a marathon uh there's really no purpose in taking the risk of those hail mary passes in hopes of maybe getting lucky because uh the downside is that i start to really snowball and then you know let's say tomorrow i lose 40 grand and i'm like well 40 it's not nearly as bad as 200 75 but 40 is a huge red day then the monday i lose 50 then 75 and the next thing you know that's when things are getting really bad so when you have a uh so this i let's let's just use an analogy here my trading uh is a the titanic and uh it's been a great run uh but uh i just hit an iceberg and we've got water coming in a ton of water just came in today and now i have an opportunity um i can either wrench the throttle full throttle and just keep plowing forward and probably keep taking on water or i can stop the bleeding stop the new water coming on stop i gotta stop the new water coming on and that's by stopping trading right now today and being done for the day tomorrow i'll start the bailing out it's gonna be one small bucket at a time the only way to get all this water out of the ship is one small bucket at a time that's small winner and it feels as you pick up one scoop like is it even worth it but it's your god dang life that's on the line so it's worth it so i'll be back on i don't know i don't know if i'm gonna trade tomorrow i regret trading today on my birthday um i would say perhaps though that um it's not a coincidence that the biggest red day i've ever had was on my birthday the second biggest red day i'd ever had prior to last year was on the anniversary of the day my dad died these are days that the emotional stakes for being green feel higher and i um even after doing this for 10 years i underestimate how powerful and how much stronger those emotions can be um than my own ability to be cool calm and collected it's really incredible and there may be a point in my career where for a variety of reasons things happening at home or you know things happening in the market where i would have to actually step back and say you know what i've made some good money it's time for me to step back because i'm just getting into an emotional spiral i uncle steve and i were talking about his grandfather my great grandfather who i never met but um he was working on the floor of the exchange when the market crashed on black tuesday in 1929 and you know uh that changed him permanently for the rest of his life he was he was not the same after that he was 34 years old um he was born in 1895 i guess but in any case it changed him and he was never the same and unfortunately a catastrophic loss or a series of catastrophic losses can uh inflict some real emotional damage so you know like i said there's people who have been through far far worse and have managed to recover so part of it is your ability to have perspective and to view these in the lens of being grateful and maybe in the 1920s and 30s it wasn't so much you know in those days people weren't doing a lot of youtubing you know no one ever says that but um but i'll say it they weren't youtubing they weren't blogging they weren't vlogging not enough not nearly enough and they didn't talk about their emotions as much and i don't i never met him so i don't know for sure but given the culture of you know that era that might also explain why some some experiences that maybe were so painful for certain people really uh stuck with them for so long so you know i think that it's worth noting that just because you may have a time in your life where you're like man my trading is just so off it was so good and now it's so off what has happened and it may not be a strategy issue it may be more of an emotional issue it may be a life circumstance issue and it may be something that you have to scale back a little bit until you get through that and then once you get to the other side you can um you know you can get aggressive again i i've even had that um you know at various times where just other things were so in the focus that trading was um more difficult so yeah i sit here still with denial and disappointment about what happened today but this is an opportunity for me to show you how to um carve a path back from a big loss to all-time highs and i don't really have any doubt that that's going to happen to me it's not a matter of if i get back to being up you know 800 000 on the year it's just a matter of how long it takes and it's a matter of how well i recover and if i do it with composure or i do it by swinging for the fences i have no doubt that there's people out there that have been down 274 000 on the day and kept trading and you know what maybe maybe sometimes that works maybe they got into something like a nvx or an xl and or avxl whatever it is and flipped short well you know what i'm i'm long cpsh and i'm losing i'm going to go ahead and short 50 000 shares i'll make this back real quick and you know what if i had done that well i guess i'd be up 200 grand but that's not really the right move so i think unfortunately if you make back your profits doing that it only encourages those spirals that get larger and larger and larger and it's even true with me to a certain extent of that quick revenge trade and then the losses all of a sudden snowballed but i i do at least have enough common sense not to criticize someone who would keep trading because if that works for them it works for them but for me i have enough common sense to know that i am way too emotionally fueled and listen if i take a trade right now and make back 5000 who cares i'll still be down 269 grand so unfortunately the loss puts even decent base hits um into a perspective of it's not worth it so this is where i sit today this is a uh unusual day for me disappointing day uh will be a birthday that i'll remember uh so can't wait for uh this year to be over but no it's it's fine i'm i'm i'll be all right um i'm gonna be i'm gonna be fine and you know it's really life is good if i stop trading right now today at february 4th with 500 000 i'd be up more than i made in all of 2016 and 2017 combined to make two years of profits in six weeks even after that loss i made in 2018 uh was it 2019 500 000. yeah 500 000 in 2018 so you know to make all of that in one in one uh one a month and three days is fantastic it's fine uh i i just the most important thing is that i don't continue to snowball and then i'm sitting here saying well i'm still up 200. still up 100 because then that's not okay i i need to regardless of the number i need to stop the bleeding and begin that path back forward so that'll start probably tomorrow i'm gonna have to add some restrictions on my account only because the impulse the emotional impulse is gonna be so high and i may not want to trade tomorrow tomorrow's friday it may make more sense for me just to wait till monday and just take three days to just like get some space between me and this and then come back monday recharged that's probably the better move that's probably what i'll do just because realistically again tomorrow you know if i come in even on my first trade and i go red i'm just gonna be i'm gonna immediately come right back to this emotion that i feel right now so i need a little bit of space um which is why i'm so grateful that the market's not open 24 hours a day because if i was trading bitcoin i could just go and go and go and go and go so at least the market closes and i have to stop all right so thank you guys for tuning in this is a um a tough kind of recap to make it would certainly be easier just to shut everything down walk away and not talk about the loss um but i don't think that really would help me that much because then i would still be thinking about it and so i think that this is actually really good for for me as maybe much maybe even more than it is for you so thank you for letting me do this and uh i will see you guys uh back in back in the chat room whether it's tomorrow or monday i'm not sure but i'll see you guys back there and uh we'll you know we'll bounce back and i know a lot of you guys probably ended up finishing the day in much better shape than me even possibly trading the same exact stocks because you um didn't mismanage your risk the way i did it's crazy how you know two traders sitting side by side trading the same stocks can have such different p l's but you know that's the way it is so anyways that's it for me uh this is this is definitely a reminder of the risk of trading so in case i didn't already say it and i'll put up my disclaimer right here uh day trading is risky most beginner traders lose money and losses can happen like that a momentary lapse in judgment can be catastrophic so the best thing you can do is manage your risk and make sure you put some hard limits on your account and i have them on my account but they accommodate a bigger range because of the way i trade so it's okay it's the way it goes all right thanks everyone i'll see you guys um tomorrow or on monday and that right there was an entire video with no ads i don't monetize my youtube channel with video ads which means you guys get to enjoy the content but do me a favor please hit that subscribe button and give me a thumbs up and let youtube know that this channel is the channel to watch if you want to learn about day trading

Channel: Warrior Trading

Views: 152,926

Keywords: day trading, day trading strategies, trading strategies, how to day trade, beginner trading strategies, momentum day trading, stocks, trading, how to trade, stock trading, penny stocks, pdt rule, shares, float, volume, candles, profits, Wall St, finance, brokers, Ross Cameron, warrior trading, day trade warrior

Id: h53KLB2liR0

Length: 45min 4sec (2704 seconds)

Published: Thu Feb 04 2021