✅ +$900 on AMD - Day Trade Loser Turns Into BIG Winner | TRADE #110 - Trade Breakdown and Analysis

[Music] all right let’s dive into this one um we had a great trade today this was an amd scalp that really took a lot of time to develop so i guess technically i don’t know if we could call it a scalp it’s sort of a sort of a violent entry followed by a lot of sort of sagging sort of that give and take and i’m just noticing as i’m talking i’m getting some echo i’m redoing the office here so so bear with me we’ll be improving it soon and the sound will get a little bit better but what you can see here is i’ve got this replay in this video i’m going to give you the full replay breakdown on amd on my trade this morning where i made 900 and i’m gonna talk about another rule that i’m implementing into my trade plan trade management strategy and how it would have played out today if i would have used it and how i’m planning to use it in the future so i know earlier in the week if you watch this video i’ll post it up here we got into some sort of psychological talk about managing trades sticking to your plan not breaking and trying to discover gray areas of your trade setup that you haven’t encountered before because if you haven’t been somewhere before you don’t know how you’re going to react so every time you experience something new with your trades you have to make sure that you create rules and boundaries based on that new experience that way if you get there again in the future you’ll know exactly what to do so i want to jump into this one i’m going to hit play i’ve sped this one up because it took a little bit of time this is a long position this is amd you can see right here you know i can replay a little further but i won’t i’ll just kind of catch you up verbally on what happened we were sort of hanging right here the last 15 minute candle as you guys know i’m an opening range breakout trader and i i guess it’s technically not an opening range it’s like a end of the pre-market range i like this last 15-minute candle and what it was doing is it was hanging down here it wasn’t doing anything at all i think the spread or the range on the candle was about maybe 30 cents and then all of a sudden about a minute and a half before the open we got this big pop-up it pushed up dropped down pushed up dropped down so i readjusted my position and right now my my order to go long is a stop limit order for a long play 10 cents above the high of this candle the high of this candle right here is 89.63 and i want to say i think it stayed at 63. i put my order at 73 or 74 to go long and then i’m looking for 2.5 r on the p l then i’ll move my stop loss to 2r then i’ll wait and see what happens now what you’re going to see in this video is i give myself the liberty to take a trade off if we are in excess of 3r 3r with my trade setup is about 900 so you’re going to see how this plays out let’s hit play i won’t hold it up any longer so you’re going to see this thing push around and this one took a while to develop i wasn’t sure if it was going to go short or if it was going to go long and it just sort of hung out and the benefit of this the reason why i like not being triggered in right away is because look over here the volume this gives this gives the volume time to really pick up so we’re at 872 000 shares and the market has been open for a minute 23. now you’re going to see right here i’m starting to get a fill i’m just going to back it up a hair all right so here comes my fill there you go so i got filled at 89.

75 03:50 - 1200 shares i immediately go in to edit my stop loss because i’m waiting for the p l to show 750. when it shows 750 i’m gonna fire off that new stop loss to go to 2r which would be 600 my r value is 300 in the month of december it was 250 in november i’ll take it to 350 in january so you’re going to see something interesting coming up because on the p l we’ve already been in the 500s we’re going to hit the 600s now i’ve got this ready i’m ready to fire this as soon as it gets to 750. it gets to 629 642 i saw let’s see if it gets any higher than that then it starts to come back down and here’s the crazy part i went from almost 700 on the p l back down to minus 160. the reason this is okay with me is because my plan says 2r greater or a full loss it’s either a full winner or a full loser i’m not gonna mess with partial profits with guessing that doesn’t achieve the goal so right now some people might say oh i’m gonna get out of this i’m down 100 bucks but i just let it ride because it’s either a full loser or a full winner beyond 2r and what you’re going to see is that i keep getting down it’ll give me a little bit of profit you can see i pop up in the low hundreds then it drops down then it pops back up then it drops back down and it just keeps repeating this process until we get right here into the 600s and right there if i stop that you can see we broke well above 750 and i fired off that stop-loss so i moved from my original position up to 2r just over 2r now what i’m looking for is continuation to the upside and if we get that i’m going to wait for this candle to close and the next one to open and if the next candle does not stop me out and it closes then i’m going to move this stop loss to the low of that next candle i want to move bar by bar but here’s the one issue i give myself the liberty to take a trade off if we go beyond 3r 3r for me is 900. so what you’re going to see is a push beyond 900 and then i decide that the price action looks funny and i take it off at 3r i got a little bit of a move to the downside a little slippage on my order so i felt like i should have been filled in the mid 900s but instead it came back on me and filled me right at 900 so we’ll see that play out right here so it pushes back up i’m up 900 945 we break a thousand we’re at 1100 i’m watching i’m thinking let’s see it surge and maybe i’ll flatten and then it just started to feel kind of kind of soft so given that i’m above 3r i have the liberty to take it off so right there you can see i just fired that off got a little slippage ended up at 898.

61 07:06 - so a buck 39 off of 900 so it was an amazing trading day a good three hour solid trade but what i’m going to show you now is i’m going to flip over so record this in your head 90 68 is the high there 90 68 is right there it continued up to 91.96 what was the high on this it went to 92. that’s right now if i would have gone bar bar by bar on this i would have moved my stop to here which that low would have been 90 79 then this candle put in a wick but the low was 90 80. so technically it wouldn’t have stopped me out then this candle would have played out and i would have put the stop loss at that low of 91.40 and so from the 9140 this next candle opens up and would have stopped me out so i got out at 90 50 and this was was this low again 9140 almost a dollar higher which would have been another 4r so this position probably should have met six and a half r if i would have gone that route but instead i had 3r so i didn’t even get 50 of what the move would have been so i’m considering a rule adding another rule to the trading plan the management style that says at no point do you take the trade off you go bar by bar until you get stopped which would have put me up here getting stopped so it’s something to consider it’s this has been a week of discovery in terms of rules and putting boundaries on the trades but i think what happens when you’re put in situations where you have to make decisions you have to come up with rules you have to decide what your boundaries are it just helps refine your trading plan your trading strategy and makes it so much better so again like we talked about on tuesday and wednesday we’re going to learn from this this was an amazing trade um 6r would have been um about 1800 instead of 900.

so when you look at what 09:19 - could have been when you whenever you leave money on the table you kind of feel like you know you just for a second you give it a thought but then as day traders we gotta we gotta wipe the sleep clean we gotta have a short memory we move on to tomorrow last day of the week this has been an amazing week so far we’re up 8r total we’ll move into tomorrow we’ll see what happens tomorrow i won’t be punching out over 3r i’m going to change that that rule to being you can punch out if you’re above 6r but between 3 and 6 are i got to stay in it bar by bar because a lot of them go from 3 to 4 to 5 and sometimes 6. so if we do get that surge above six i will allow myself the liberty to flatten that position but today’s trade was amazing it worked out really well and we just sharpened the strategy even that much more which is great going into the rest of december we’re only 10 days in we’ve got two thirds of the month left and we’re already looking really really good we’ll see how the rest of the month plays out but we gotta stick to that winners have to be bigger than the losers don’t forget that and stay consistent if you had any trouble today trading post a comment below ask questions let me know i hope you were green today come back tomorrow this is trade 110 tomorrow trade 111 stop by [Music] .