holding your winners cutting your losers today we're talking about major issue a
problem that I have I think a lot of people have out there you know day
trading it's not easy but the big issue is when we do have a really good amazing
winner why is it hard for us to hold why is it so emotionally just kind of hard
to hold a winner while it's easy to hold a loser so we're gonna talk about it in
this video the emotional battle of day trading cutting your losers holding your
winners stay tuned what's going on guys so this is a perfect day to really talk
about this CHC I went to the moon today I got in with 3,000 shares at $3 now I
got into the trade and I was like okay I'm not expecting this thing to really
explode it just broken over $3 it kind of was looking extended already so I was
looking just for a little bit of a move you know boom I'm in and out and that's
what we got I got a 30 cent move I ended up making $300 on the trade like three
hundred thirty nine dollars but only seconds after I sold the stock went to
$5 nobody really knows you know no one's gonna be like oh I knew it was going to
fight ROI I called that well somebody might call it but for me you know
getting to the trade at $3 I was like oh if I can get 320 330 this is gonna be a
great trade for me and it worked out I was green I can't complain a wise man
once said person who takes profit every single day can't lose I mean I was
really how it comes down to but the problem is the big issue is let's say so
I get into the trade and I get into $3 it starts to go down on me my mental
stop-loss is probably like the two AED area maybe a little bit higher depending
on where the EMA's were I look at the chart here in a second but really you
know I'm thinking of myself I'm okay holding this tool kind of at 280 or it's
my stop now mentally the stock starts going up it's it's 310 I'm like oh I'm
up I'm green okay it's 315 I'm like I'm taking a profit
take a profit it's going up I gotta take profit right mentally I got to get out
of it cuz I just want to take profit I don't want to lose now I don't want to
get back in the red but the problem is the stock starts going higher and higher
I end up taking all the profit there at 3:30 and I think to myself boom awesome
I just made a great trade and then seconds later it goes to 3
three $74 and then five dollars so how do I really battle this how do I kind of
have a better plan when it comes to these types of stocks you know CH ci
this is the type of stock that really could just make or break you but really
I mean make you if you get an amazing entry on a stock like this it goes up a
hundred percent and you double your money in that trade I mean that's an
amazing trade even if I have made you know a dollar on two thousand shares
that's two thousand dollars in profit in a matter of minutes and you know it
works both ways obviously these stocks can just crash on
us I probably wouldn't have held two thousand shares for a full dollar either
way but really what it comes down to is kind of having a better plan you know
going into these trades knowing that like okay I need my target I gotta get
this target area if I reach that target I really just need to breathe I need to
relax I need to hold and just mentally you know be clear because a lot of times
I'll go into trade and the first thing I think about is look oh it's it's going
up and taking profit it's going up it's have a little bit trouble I'm taking
profit I'm getting now and then seconds later what happens it goes to exactly
where I wanted to in the first place so I really just need to kind of relax
breathe and really just focus on what's going on focus on the indicators focus
that you know hey I bought a $3 the stock showing strength they're showing
support their three dollars we're good as long as that three dollar area is
holding I mean we're chilling even if it pops at 3:15 3:20 but then comes back
down to $3 we're still chilling so I really just need to focus on that
opportunity and then kind of you know really focus on all the indicators
everything that's going on with the trade not just so much on like hey I'm
in the profit I gotta take profit I don't want to get it read I want to take
profit I think a lot of times I kind of just get into a trade and I take profit
fast because I might go oh it's going up and take a profit and that's one of the
issues you know if I'm taking 10 20 cents on a winner but then I'm giving up
20 30 cents on a loser I mean that's just not profitable in the long term so
I really just need to focus I really need to focus on if anything just kind
of picking partials I know a lot of times you know people are like why don't
you take more partials why don't you do this why do that there's gonna be those
days we're not taking a partial is a good plan and there's gonna be days like
today we're taking a partial was the better plan so it's really coming down
to reading lists okay the stock is exploding it's really
got no resistance coming up it's just going higher and higher so I need to
really kind of take partials and then on a stock that I'm like hey it's really
it's biting it's not really going it's you know it's moving but it's only
moving 1020 cents maybe on that kind of stock I sell the full size on the pop
and that's kind of just kind of learning in the experience and I'm just always
working I'm always working always trying to kind of figure out you know
perfecting this whole strategy of perfecting and I mean it's really this
an emotional battle because I think you know as a human being as a person being
in the green it's like oh you're in the green awesome I'm taking profit and then
you take profit but you know I took profit at 3:30 I only made 300 dollars
well that stock could have easily crashed four hundred five hundred
dollars on me and I could have lost that and the funny thing is I probably would
have held for that full three hundred two hundred dollar loss no problem but
the same time it was hard for me to hold for that three hundred our winner and I
really just need to focus I think if I were just taking a partial obviously
thought it took in a partial I would have sold 50 hundred shares there at
3:30 kept 500 shares letting it move higher letting it move higher that would
have worked out beautifully because even if it went up two dollars on five
hundred shares that's still a thousand dollars in profit I mean even 250 shares
still you know even if I only got $1 a share on there that would have been 250
dollars added on top of the $300 that I made earlier so I really need to work on
identifying you know the right opportunities is this the opportunity is
this type of stock that's gonna keep going higher does this stock really show
a lot of strength did I get a good entry should I hold
this one for a possible move higher even if I only hold a partial I really just
need to focus on that and I think a lot of people out there can relate to the
problem and I think you know it's an emotional thing because it's really like
hey I got in $3 Oh My gods going down it's coming down I'm thinking I sell I
just might get back to break even if I can get back to break-even I'll cut my
loss so now it's coming down I'm holding it's at 280 I'm thinking it's gonna
bounce it's gonna bounce it's kind of bounce but the same time I need to be
thinking with that same mindset when it breaks over $3 I get in at $3 now I
don't be thinking okay it hit 320 it's good that's awesome and it's pulling
back oh gosh it's pulling back but it's holding $3 that support is there there's
the EMA there's a lot of stuff going on at that support area so that's what I
need to identify I need to be able to look at anything okay we're good even
though it hit that 320 area and it's coming back down we're still good
because there's that support there so stocks you know moving waves hits 320
comes back down there to the $3.00 area and then really rockets from there so
that's what we got to work on and that's what I'm trying to work on that's what I
want to work on I make these videos and I talk about what I want to work on and
then I actually trading I don't work on it but I need to really focus here I
think I'm getting better I think my entries are getting better I had some
pretty good entries a day overall you know the last week my
entries have been pretty good I had one bad red day I'm gonna talk about that
one because I was fooled us that was full just gambling and just stupid but
everything else I felt like my entries are pretty good so now I just need to
work on my exits and kind of just work on the overall plan the overall trade
and really kind of capitalize you know see HCI today that should have been a
trade that made my month I mean that should have been an easy thousand
dollars in profit I mean easy that should've been thousand dollars in the
bank right there on that one trade so that's what I'm working on hopefully
this video helps you guys really you know when I'm going into trade I need to
think about okay where's my support my entries at three dollars it pops at 320
okay that's fine it's coming back down breathe relax you know how these things
work they don't just go straight up I mean sometimes they go straight up but a
lot of times you'll get that little bounce it'll pull back it'll find some
support and then you start getting the next leg and really just focus on the
trade focus on what's going on and kind of identifying like hey this stock is
hot the stock has a lot of potential there's a lot of stuff going on here so
I need to make sure that I'm playing into this that I'm really capitalizing
because not every day are you going to have a stock like CH CI that's gonna go
up two and a percent and I mean really it was an easy kind of trade by a three
dollar sell a four dollar sell it five dollars however you want to do it but
still it was really this it was simple and easy for that first like 30 minutes
it was really clean it went higher higher higher has some solid support got
halted broke $5 boom it was off the races so that's really what's about
identifying these types of setups that are gonna be those big major moves now
you're not always gonna catch the entire meet of the move but really it comes
down to just being able to you know maximize your profits so if I
had a hundred shares left it went up another dollar that'd been her dollars
in profit boom in the bank song I just need to really just focus breathe relax
calm calm be trading relaxed instead of just oh it's going up take a profit
take a price so that's what I'll be working on and that's kind of my battle
right now battling the emotion of trading at the end of the day you can
read all the books you can do all the courses you can watch all the DVDs but
really it comes down to the battle within the battle the emotional battle
between yourself take a profit cutting your losses and dealing with all of
these moving variables it happens so fast if you did enjoy this video of you
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below what's the emotional battle with your day trading that you're dealing
with right now let's hear about let's talk about it I'll talk to you guys
later