hey Traders today I was able to lock in about fourteen hundred dollars in profits with two
trades one of them was a long trade with the stock envb on that trade I made 376 dollars in profits
and the other one was a short trade that I placed in my trade zero account and then I also alerted
to the market Master group and that trade ended up being a solid winner of about eleven hundred
dollars bringing my total to just over fourteen hundred dollars for the day you know the drill
in this video I'm going to break down these trades talk about my thought process and I want to cover
a very important topic in this video about having a daily profit goal and what it takes to achieve
locking in an average of a thousand dollars in profits per day now before we get to that let's go
ahead and break down the wlgs trade this was again a short trade that I placed early this morning at
the market open if we take a look at the morning alerts here for the team I posted at 9 36 a.m
taking a short position on wlgs into this Gap up slash opening pop these setups tend to not hold
above free market highs for long and GAP UPS have been getting weaker and weaker over the past few
weeks looking for a fade back under two to lock in profits at the time it was trading at two dollars
and 39 cents and this trade was a simple case of taking what the market has been giving us lately
we've seen these stocks Gap up in pre-market spike a bit at the market open and then fade back down
and what I've noticed from time and time again tracking these symbols and tracking these types
of setups is the fact that these stocks that run Higher and Higher and Higher and they're
at their pre-market highs basically at the market open tend to spike up briefly at the market open
have a false breakout above their pre-market highs and then fade back down that's kind of why I was
overall bearish on this trade and why I decided to short it and I know I've mentioned this in a
few of my recent videos but this is a really good time to emphasize the importance of tracking data
for the setups that you trade if you're like me and you trade stocks that are gapping up over
over and over it's really important to understand what stocks that are gapping up tend to do at the
market open or tend to do within the first couple of hours after the market does open for example
you can track things like how often they break above their pre-market highs how often they close
above their opening price how far they run from their opening price to their highs although it's
not going to give you a perfect number to use for your trades you can find out what this setup is
going to do on an average day and you can use that statistical data to then help you improve your
entries and your exits for your trades all of that being said I use the past data that I tracked in
these types of setups to find out that this was a good short opportunity as it was having this false
breakout above these pre-market highs so I alerted the team I took a small short position and just
like I was looking for with the alerts it ended up fading under two I took most of my profits as it
pulled back under two dollars per share it ended up fading down into the 180s and actually cracked
under 180 before popping back up over two but I was out and locked in all of my profits before
that even happened so the next trade that I placed today that was a 376 dollar profit for me was the
stock envb envb was a big gap and go this morning we could see it how to gap up from the previous
day's close of 1.52 cents up to an opening price today of two dollars and 15 cents and then at the
market open it ripped right back through v-wap above those pre-market highs and pretty much
trended higher and higher and higher throughout the rest of the morning so in the market Master
group this was one of the stocks that we posted the opening range breakout level for
um we posted the breakout level at two dollars and 26 Cents the reason for that of course is because
that is the high of this opening range here 226 if we go ahead and draw that line um that
is the opening range breakout level that we're looking for so if you were trading that breakout
you would want to be buying into this breakout Zone up here and more importantly what you would
be doing is you would use the low down here of two dollars and two cents as your risk level so
that way if this does happen to have a quick false breakout and come back down and then dumps lower
and lower and lower you're going to be managing your risk and you're going to be stopped out after
it breaks down below that morning low okay so I missed the opening range breakout trade in this
case I was a little bit more focused on my short with wlgs in fact I actually ended up chasing this
a little bit in the sense that I didn't actually buy until this was over three dollars per share
but to kind of validate my trade here a little bit I want to say that it's not necessarily chasing if
you have a trade plan in place and if you're still planning on managing your risk chasing happens
when you're buying into a stock as it's spiking up with no real plan or with no real goal of that
trade so that being said the reason that I bought into envb over three dollars per share is because
if we take a look down here at the daily chart very quickly we can see the 3.20 area was a bit of
daily chart resistance so what I noticed was that as it was breaking above that level it started to
pull back into that past resistance level and turn it into a level of support once I noticed that I
took a small position in the 320s and what I did was I used the low of this dip here if we take a
look at this red candle that cracked actually back below that 3.20 level the lowdown here was exactly
three dollars so I was buying in the 320s and I knew that if it cracked back below that three
dollar level that would also be a move below the V web and that would be two bearish signs a lower
low and a break below V web that would tell me it's time to get out of the stock so I had a very
small risk on this trade especially because I had a small position I didn't have a crazy
profit on this of course either but I was able to lock in 376 dollars on this trade while I was
really only risking a little bit over two hundred dollars so all in all it was another solid day of
trading locked in a little over fourteen hundred dollars in profits and now just to kind of finish
up this video I want to talk about what it takes to average one thousand dollars in profits per day
from day trading first and foremost if you are a newer Trader you shouldn't even be shooting for a
goal that big that might sound a little bit weird because obviously we're all in the market to make
as much money as we possibly can but if you're someone that's new to the market you should start
off with a smaller goal maybe trying to make an average of 50 per day one hundred dollars
per day even 200 per day and once you can start consistently doing that that's when you start
to scale up to larger position sizes you start to take on more risk and you can start to potentially
average a thousand dollars in profits per day okay but in order to reach that goal let's just say a
thousand dollars per day it's important to start tracking data for the trades that you actually
take let's go ahead and put this column here as the winning trades these are our winners and these
are going to be our losers so if we're putting in our data after every trade and let's just say
we have a winning trade here that profits 6.7 and we're just going to put in a bunch of numbers here
5.8 percent this one was a little bit bigger we'll say 12.2 percent
now what we can do by tracking this data is we can go ahead and select all of our
winning trades here and down at the bottom it's going to tell us the average return
for a winning trade on average Our Winning trades tend to be 7.66 percent in this case
and if we take a look at our losing trades an average losing trade is 9.2 percent
the average for all of these trades collectively with winners and losers factored in is a loss of
0.77 percent this information can tell you a lot about your trading obviously you want this to be
an overall positive number showing you that with your winners and losers factored in you're still
profitable at the end and at that point you could start to see what it's going to take to reach that
daily profit goal for example sticking with the same one thousand dollars in profit for our daily
goal if by tracking our data we find out that we have an average return per trade of let's say 3.5
percent if we divide 1000 by our 3.5 percent average profit that's going to give us 28 571.
this is the number that you would need to invest with this percentage return in order to make this
amount of money now that doesn't mean that you should just be going into one single trade with
that twenty eight thousand dollars hoping to get that 3.5 return it just means that say for
example you place five or six trades per day and each trade is about five to six thousand dollars
that's going to put you right in this range and if you can average with winners and losers overall a
3.5 percent profit from those five or six trades with again this much invested overall that's going
to average out to about a thousand dollars per day okay so I know this kind of made it seem a little
bit complicated but at the end of the day you just want to track data for your trading to give you an
idea of how well you're performing and when you start to see that overall you're consistently
profitable you can slowly scale up your positions to larger and larger sizes until you're reaching
your daily 100 goal or your daily 200 goal or in this case your daily one thousand dollar goal
all right so hopefully you found some value in this video if you did please make sure to give
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paying anything and yeah thanks again for watching I hope you enjoyed and good luck with your Trading
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thank you