✅ -$300 Failed Day Trading Scalp on AMD | TRADE #128

[Music] hey everybody welcome back to the channel it wasn’t a great p l day for me but i did develop my trade management plan a little bit and i’m going to show you in today’s video the live trade of the losing trade that i took i’m going to actually show you what was captured live on camera was me adjusting my management style and i’m just going to go through exactly what happened in amd so this is your first time stopping by i encourage you to hit that subscribe button maybe the like button if you get value out of this video but what i’m going to do is break down this video and show you how i trade amd and kind of talk about why i traded every morning and show you this live video where i show you both my entries and unfortunately my stop outs and i’m going to explain the exact change that i made to my trading plan so that if you’re struggling with your trading plan maybe you could implement something similar you can check it out you can see what you think let’s dive into this and before we do actually let’s roll the disclaimer just explaining that i’m a guy that likes to trade stocks i’m not certified in anything so don’t take my advice i’m just sharing my experience so with that let’s dive in amd right here pushing down at the open and as many of you know i watched that 15-minute candle you can see the low you can see the high today i was five cents above and five cents below looking for good tight entries i actually got really good fills today and it’s been encouraging because i’ve had two days in a row now with really good fills from it from td ameritrade last week was a disaster this week has gotten much better i don’t know why it might because i’m getting maybe triggered a little later than normal but as you’ll see in this first video or in this first trade i was triggered right out of the gate i’m going to play that right now so i was five cents below this low looking to get short and when i hit this button boom you can see right out of the gate it pushes down i get triggered and then it just surges right there and you can see it was a slightly slow like there was just a little bit of a delay i did get triggered in and i knew i was in i was just waiting for that notification to play out if you don’t know what i’m talking about in terms of slow fills with think or swim i’m just going to pop this video up right here check that one out real quick and then come back over here and you’ll understand a little bit more about what i’m talking about but as i hit play here you can see we get down i’m up almost 500 bucks 570 i think at one point and this is only in the first like there’s 546 on the p l and um you know we’re only 55 seconds into the entire trading day so this one really lurched out of the gate really hard to the downside triggered me in took us all the way down and then what i’m going to be doing in the future now as far as modifying my stop loss is once i see 1.5 r to 2r on the p l i’m just going to nudge my stop loss to break even and i had someone recommend in the facebook private group about moving that stop loss to break even sooner and i’m going to go ahead and do that once i see 1.5 to 2r which is what we got right here that was between 1.5 and 2r 2r for me would be 600 i’m risking a 300 r on each trade so i technically would have moved this to break even which would have been 91.55 and then i can just let it play out and execute the rest of my mechanics and what you’ll see in this trade is i was up really nice even in the 570s for a second and then it just came barreling back so 91.

55 would be a break even trade 03:44 - oh and i had multiple opportunities to to do something if i wanted to but it wasn’t my trade plan so i did not act on it i let it play out and as you can see it pushes all the way back up now in here i would have already been stopped out at 91.55 but i hadn’t made that adjustment yet and as this came back up and i actually got green again for for a short period but then it turns back on me it’s showing that same bullish candle just like we talked about yesterday when these candles start to form with these long lower wicks it’s just telling us a story and this continues to push down and up and just kind of float not really going anywhere volume’s insane though volume is great you can see over here over a million shares already really tight bid ask spread looks like it’s two pennies right there so then it pushes back up takes me red again and then ultimately is just going to kind of whack me and and knock me out for a one-hour loser but multiple attempts multiple pushes beyond 3 350 on the p l so if i would have moved to break even this could have been a scratch trade i like to wait to 2.5 r before i address possibly taking half off the position but you’ll see here in just a second it’s going to pop back up it’s going to take me out so that’s trade number one that one knocked me out it was unfortunate because i did see almost 2r on the p l so you start to think oh my gosh if i’d have just taken it but if i would have taken it short of my normal goal and then it went 5 or 6r additional i would have missed that whole move so for me i get a lot of questions of people asking me why not just take the profit that you have and my answer to that is because i like to execute a pretty rigid and simple plan in that when i lose i lose one unit when i win i make two plus units and that’s what i stick to that’s been profitable for me as this is trade number 128 live like not including back test i back tested this a couple hundred times and now i have 128 live trades and my my metrics and statistics just holding up there so i’m sticking to that plan i am in a losing cluster and yes it’s frustrating you don’t really you know you just got to wade through it you gotta get through the cluster and get on to greener days i just went through a period where i had seven green days in a row so it’s just gonna come in spurts you’re gonna have a cluster of losers you’re gonna have a cluster of winners i try not to get too caught up in either side and just roll with it so you’re going to now see trade number two come in and i’m triggered there this one actually looked a little more promising this one we got pushed up pretty good and the we’re going to see me make the adjustment on this trade what i do is i go ahead and i adjust my stop loss from one r loser to break even and i only do that once i get to that 1.5 r to 2r because when i went back and looked at some more of my trades reviewing it on my tradervue.com account i noticed that if a if a trade goes in your favor significantly which one and a half to two r i think is a significant move if that happens then if it comes all the way back on you i think that’s really telling you something i think the price action is telling you that this isn’t just a little pullback this is a significant reversal in the other direction and you’ll see right here that we actually got into the second candle and i’m just waiting for this high to get knocked out so i’m kind of waiting around and finally it happens and it actually looks promising it kind of pushes higher gets us into the 500s again but as you can see if i combine the downside the short side and now the long side i had a thousand dollars on the p l so that’s why the thumbnail says a thousand to minus three hundred because you’re going to see i had a three i had a thousand dollars profit but right here i just moved my stop loss so that stop loss movement is now at break even just over break even in case of slippage and now i’m just waiting for it to go just wanting it to just push higher break that high continue to the upside but amd has been sort of in a sideways trend and it’s just been very wicky and sloppy and so i wait around on i wait around on it we’re in the 400s 450 you know it would be easy to slap that flattened button and call it a day but i gotta stick it out i gotta get my winners to the to the finish line and right about here is where the party ends and it’s okay because i made the adjustment and the important thing is after i took this trade off and you can see i had 12 on the p l because i put it like a penny or two over the um the actual break even in case i got some slippage the thing that i’m interested in is when you get this play and so for example for this trade it came back i moved my stop-loss to break even and one thing i want to be very aware of is i don’t want it to touch stop me out and then immediately reverse and go in the other direction and you’re going to see what happened here was after i got stopped which was right in here it continued to the downside so i did save myself one r by making that adjustment so i’m happy about that and i’ve officially put that in my rules 1.

5 to 2r which for me 09:20 - is four hundred and fifty dollars to six hundred dollars on the p l right now for the month of december if i see that value on the p l i’m gonna move that stop loss to break even then it becomes a free trade it becomes a risk free trade and then i can allow it to run then if it goes to 750 on the p l which is 2.5 rs for me then i’m going to take half the position off and then let the second half of that position try to continue on while maintaining my stop loss at breakeven the issue i’ve been running into and and i really want to thank everyone in the free facebook group for all the encouragement and suggestions of tweaks that i could make to my management style i was bringing my stop loss to 2r once i saw it go beyond 2.5 r and it was just too tight it’s not enough breathing room but break even is nice i can take half the position off at two and a half hour which locks in 1.25 r and then i’m i’m locked in at the at the break even so i can’t lose money and i’ve already booked 1.25 r then i can just let it kind of go and then if i can get it to go beyond you know closer to 4r 4 and a half 5r then i can take that second half off down the road a lot of my trades that get to 2 and a half are lots of them get to 4r so i’m trying to find the right way to stay positive stay in the game keep pushing through but reach that 4r level get to that point to be able to take profits there if i take things off too early then a cluster of losers can really backtrack your month so my month has changed a little bit because i’ve had the double loser yesterday i’ve had the single loser today i’ve had sort of a cluster of losers so we’ll see how things work out in terms of monthly totals here because we only have two more trading days and as you all know i’m going to do a full monthly recap on the month of december where i’m going to break down all the trades i’m going to show you all the profits all the losses the total number of trades and i’m even going to show you this interesting statistic which is sort of a max move in your favor and a max move against you within the trade tradervue.

com 11:42 - gives you the statistic they call it the mfe and the mae and those numbers just tell you how profitable you got the trade before you either won or lost and then there’s a way to look at how far against you did it go so you entered a trade what’s your average draw down within the trade not not after the trades closed but while the trades moving and it’s a really helpful metric because it can kind of tell you if your r values are in line and i can get into that more maybe in our next live stream or when i’m talking about the trader view december recap coming up right after the first of the year so i want to hear about your trades today i’m curious to know if any of you got whipped around in amd it’s just been a sideways slog fest for me and as you can see if i zoom out on the 15 minute chart i mean ever since the 21st amd’s just kind of been moving sideways and i also thought you know one thing you could take a look at is if you are seeing a sideways trend in the name that you want to trade could you reduce your r requirement and say hey you know what i’m actually going to take profit at one and a half hours or 1.75 rs instead of two and a half sort of adjust that expectation until you start to see something like this till you start to see movement in a direction when you’re moving sideways it can be very whippy and things can bounce and just be indecisive and really make it a chore to trade now right now if i look at how this is playing out on amd if i tighten this up a little bit you can see that at the bottom here i’m going to actually draw a line let’s do a quick analysis this is a little improv here but i just want to do a little something if i draw a line right there you can see we’ve just been playing within those boundaries right and then today we actually broke down and now we’re retesting again so this support area that was sort of a sort of a boundary of this range if i draw another line in here i guess technically we could kind of say you know we’ve been in this range for a while and now we’ve broken below it so i’m going to be curious to see if tomorrow is a winning trade and if it’s in fact in the short direction because we broke down i’m going to watch that see what happens i’ll be curious to see if this closes outside of this range if it pushes back inside and closes again i’m going to be aware of that for tomorrow and maybe at some point i can implement an r sliding scale so that when we are moving sideways i can pull back that our expectation and on days that were outside of that and moving either up or down i can adjust my r expectation to take advantage of more movement and more volatility but we’ll see how that plays out comment below tell me what you traded today great job yesterday of sharing what tickers you were trading i want to hear more of that want to hear about your trades so we can problem solve thank you for stopping by hit up the banner on the fate or on the youtube banner hit the link for the private facebook group come over and join us it’s about 200 of us talking stocks we’d love to have you and as always any questions you want to post drop those in the comments below and we’ll see you tomorrow you .