hey traders welcome back to another daily recap today I was able to lock in 422 dollars in profits
just like yesterday two of them were winning trades and one of them was a losing trade although
yesterday I was able to lock in over two thousand dollars in profits today I had a little bit of a
bigger loser with upst I lost 1,045 on that trade but thankfully the other two trades that I placed
were able to make up for that loss and then I was still able to make over 400 in profit on
top of that so let's go ahead and break down these three traits the first of them is going to be mvst
mvst was a very simple trade this is a stock that had momentum over the past couple of days
um you know we can see that it's clearly been in an uptrend their earnings report was released
yesterday and after hours and we can see that the trend continued after that earnings report so that
right away tells us that the market is reacting bullishly to uh the earnings being released so
what I did with mvst was I was able to buy in here as it was breaking back above the vwap after it
had this morning dip now typically with this type of trade I would have probably looked to buy into
this pullback itself maybe wait for some support to form down here in the 1.40s and then buy into
that support level or I would have waited for it to come all the way back up above this opening
Range High to take advantage of the opening range breakout but I kind of used my intuition a little
bit here and I realized this stock was in an uptrend lately it was breaking back above the
vwap the morning dip was bought up very quickly and I was pretty much just anticipating that it
was going to break Above This opening Range High and push back up towards the pre-market highs
so in the market Master group I posted I took a starter position at the V web at 9:56 a.m
um and as we can see it kind of took right off from that area and I was able to lock in profits
very quickly up in the 1.80s following that trade and the reason that I sold in the 1.80s
even though it went up to over two dollars per share so far it's always a good idea to lock in
some profits into pre-market highs or just below pre-market highs because a lot of times we'll
see those levels reject but become a level of resistance and the stock will come crashing back
down so I simply took my profits on that trade and moved on to the next one with that being said the
next trade that we have on the list is stss this was a nice winner for me today I had a total of
4,800 shares and it was a pretty simple trade setup this was another opening range breakout
back to the market Master group here I posted the opening range breakout levels like I do every
single day and stss had an opening range breakout level of 1.22 cents now because this was gapping
up in pre-market if it starts to break back up above that opening range that is a boiler sign
for a gap and go and there's a good chance that you're able to scalp a nice trade on that breakout
so that's exactly what I did I bought into that opening range breakout um I didn't buy right away
I was a little bit late I think my average was about 1.27 and what I was looking for was that
this was going to push back up into this 1.50 area which we can see back in pre-market there was a
bit of resistance in that level so that's what I was expecting and I was going to look to take
profits into that level however what we can see here is that on this first push after I bought it
didn't quite get up into that level so I kind of missed my initial exit on this trade and it pulled
all the way back down to break even and actually turned this winning trade into a losing trade for
a brief period of time now what's really important about this trade though and the reason that I'm
pretty happy with this trade is that I didn't Panic sell into this pullback I didn't take a
loss or get out a break even I had my initial stop loss place down here below the opening range if it
fell down to that level I would be comfortable taking a loss from the trade that would be a
sign that the momentum is now to the downside and there would really be no reason to be long at that
point you know so instead of selling into this pool back here and taking a loss and panicking
a little bit I stuck to my initial plan and I was ready to have this come all the way back down to
the lows if that's what the stock was going to do but instead thankfully this stock kind of bounced
back up from that level and I was able to lock in profits up here in the high 1.40s just like
my original plan was okay so that was a pretty simple straight to the point trade for the most
part moving on to upst upst was the loser for me today I lost a little over a thousand dollars on
this trade I had 1,500 shares and my average cost was I believe about 18.90 kind of very similar to
the mvst trade the one that I went over first in this video I was seeing that the stock was
bouncing back up the morning dip was bought up very quickly I was seeing that it was starting
to push back into vwap and I was expecting it to come back up pretty quickly and break above this
opening High maybe push up towards twenty dollars and fifty cents and I would have looked to lock in
profits in that level however we can see obviously that it didn't happen it kind of traded around V
web here for a little bit it had a quick false breakout above that opening Range High and then
it came crashing back down I actually didn't sell all of my position at once here I cut some of my
losses into this initial pullback and then I sold the rest of them as it was breaking down
below this morning low so even though the stock bounced back up and I'd be basically at break
even on this trade it's unfortunate to think about that of course but at the end of the day
risk management is rule number one and there would have been a very good chance that this stock could
have came crashing back down and Faded down to 16 or even lower throughout the rest of the day
so it's very important when a stock is breaking down to stick to your plan cut your losses when
you need to and just take the loss so those are my three trades today a little bit anticlimactic
and not anything really to brag about but um you know that's just how it goes as a day trader some
days you're going to have really great trades and everything is going to kind of work in your favor
and then there's other days where things are going to look like they're promising but they don't end
up working out and you end up taking a loss on some trades aside from those three trades I'm
a little bit upset that I missed out on the ufab trade um we posted the opening range breakout at
about 53 cents this morning and we can see that it ran up to a high of 73 cents even though I
posted the breakout level this wasn't really at the top of my radar personally so I kind of
missed out on this trade there was really solid potential there to make 20, 30, 40 percent on
that trade but yeah like I said overall not too bad locked in another 400 dollars in
profits and I think the key lesson from today is something that I already mentioned earlier
in this video and that is to stick to your plan if I wouldn't have stuck to the plan with stss
um you know I would have probably gotten out at break even or a small loss even as the
stock turned back against me after this was a nice profitable trade but I stuck to my plan I didn't
sell too quickly and it ended up working out and I was able to sell at my initial price Target anyway
same thing with upst stuck to my plan cut losses on the trade and that's really all you can do
if you're trying to keep your losses small and overall become a profitable and consistent day
trader so anyway if you want to hear about my trades in real time and you want to trade with
the group as well as get my day trade swing trade alerts and my detailed trade plans you
can get started with the market Master group for free that's going to be linked Down Below in the
description if you enjoyed this video please make sure to give it a like And subscribe to
the channel I'm going to be doing these daily profit and loss videos every single day going
over my trades so you're not going to want to miss out on those so make sure to subscribe so you're
ready to go anyway thank you again for watching I hope you enjoyed and good luck with your Trading