 Welcome to Access to Trader, the number one community for those who are committed to taking control of their trading in order to achieve success, profitability, and longevity. Thank you for joining us. Here's Dan Shapiro to help you find your edge, master your process, and own your future. Hey guys, good morning everybody. Welcome to another edition of the AccessToTrader.com. We can update, show hope everybody is doing great. So we do these broadcasts for the trader. Look, there's 400,000 financial sites out there. You can go out there and see what the market did, the Tesla earnings breakdown, what we're having coming up for next week, the announcement recently, I guess in the last hour about Mnuchin announcing additional stimulus package as early as Monday. So all that stuff is out there. You can go to any site, CNBC, whatever the case may be. I try to direct this broadcast specifically to the trader of what we go through. And there's been something on my mind since Friday around 10 o'clock in the morning, maybe even a little earlier than that. And it really took me about three days, two and a half days to kind of get over it. I'm literally still talking about it now, but that's kind of my process. That's the way I kind of deal with everything. So when you're a little kid, four, five, six years old, you first pick up that bet and you fall in love with baseball. And you go in the little league, every little league, six, seven-year-old kid, their dream is to become a major league player. They have their idols, Derek Jeter, who are my trout, whoever it is. They have their idols, that's their goal. When you're in high school and you fall in love with the idea of law, you want to become an attorney, that's your goal. You start applying everything to political science, that's your major. You apply to law school and one day your goal is to become an attorney. And if you're really, really good at what you do and your career goes on fast track, you're going to wind up the end game. You're going to wind up as probably general counsel of a major company. That's the end game. Unfortunately, when you're a trader, there is no end game. There absolutely is no prize. There is no reward. And the most important part is it's a game without a trophy. There is no prize at the end of the tunnel. And the most important part is when you're a trader and you first start, you start romanticizing this business. What it could be, what your life could be. But then the reality is nobody tells you this that you need to put in minimum 10 years of work to kind of get comfortable in your own skin with the losses. With everything, be really, really comfortable in your own skin. So there is no end game. There is no prize. You had a good trade, do it again. You had a good week, do it again. You had a good month, do it again. You had a good year, do it again. It's a never ending battle versus you versus the market. There is no finish line. There is no trophy. There is no storybook ending at the game. Can you do very, very well in this business? Absolutely. But it's going to take time. You have to put in at least a decade for that to really come into fruition. And something that keeps on reminding me over and over again. Again, I'm still talking about this from Friday morning. Friday was an incredibly amount of value. We'll talk about the pivots in a few minutes. And it really does show, I'm going on my 21st year. It really does show you how much mental equity you really need to apply every single day to a trading session. You could have the greatest plan in the world. You could see the market perfectly. It was a very, very solid week. There's nothing I don't want to take away from the really good value of the week. Very, very solid week. Very, very pleased with the week. The problem is every single day you are expected to bring your A game. And if not, you're not supposed to trade. I woke up Friday morning. Very good week. Incredibly tired. Really tired. My brain was completely on zero. That's not an excuse. The market doesn't care. You had a bad night's sleep. The market doesn't care. You woke up with a belly ache. The market doesn't care. You had a fight with your wife. The market doesn't care. You got fired from your job. The market doesn't care. The market is there to take your money. Disconnect you from your money and keep it moving. It's a rotation. One person in, one person out. One person in, one person out. So all these factors, the market doesn't care about you. So the reality is for you to be, and again, the word success is very, very subjective. You can have enough money to live for the rest of your world. A lot of people talk about that as success. You can just be a happy go lucky person, have your bills paid, go on vacation, put your kids through school. That's success. So every person defines success a different way. But if you want to have longevity in this business, you have to understand that if you are not mentally sharp, you are not mentally ready for the day, whether it's technically, emotionally, whatever the case may be, there's a very high probability that the market is going to do very, very aggressive things to you. And Friday proved to me again, and it's not the first time, it's not going to be the last time, that we don't know what our capabilities are until we stop making really, really basic mistakes. Okay, now it starts with, for example, year one, you know, a lot of new traders are going to have a lot more aggressive, basic mistakes. So for example, you know, if you're a new trader, you're probably going to chase the hot stock. The advanced trader is going to be selling that stock to you and vice versa. So there's a lot of patterns of how many mistakes you can make from year one. And obviously, as time goes by, it gets easier to start eliminating those mistakes. But again, we are human. And when you are human, you're going to laugh like everybody else, you're going to cry like everybody else. So you're going to be depressed and happy, and you're going to run all the gamuts of emotion, and you're human, and you're going to make mistakes. Okay, we've accepted that. But it is so frustrating, still at this advanced age and advanced tenure in this business, that there's that mistake that you keep on making over and over again. You make it five times a year, three times a year, but you're going to make it. And the most basic thing is breaking whatever rule you have. See, in my process, it's all about execution. We found an arbitrage in these pivots. And for all you guys who've been in the live webinar for about 10 years, and a lot of you guys who've been following us on social media, there's a reason why these things work very, very well. But the most important part of these pivots is the execution. It's incredibly important. You can't skip step two to get a step three. You need to watch step one, step two to three, and finally get the check mark to make sure the trade works out very, very well. And when you look at the trades from Friday, they were so damn good. Right? So what's the problem? There was a trade I did on the video, okay? There was a trade I did on the video that I went in because of an anticipation of a move. And the PS60 theory or PS60 process, you need a second entry. I dwell that point. I drive that point into the trader's brains, that the second entry will give you the highest probability because the first move, the first trigger, stops being triggered. So you need that second wave of buyers, a second wave of sellers, depending on which way you're going, to make sure that you're not the only kid jumping into the pool. You want to make sure there's a second wave, the cavalry coming, that you know that you are on the right side of the trade. And unfortunately, because there were such aggressive moves on Monday, I anticipated a trade on the video, okay? And it cost me a pretty good amount of money, right? It cost me a pretty good penny. And the most amazing part is, I knew subconsciously I was wrong going into it the first time around. I didn't want to miss the moves that I saw of the pivots that I was missing, and I was trying to play catch up, okay? I was trying to will my way in the directional bias of where I saw the action was going to be. And once again, okay, you could get lucky once, you could get lucky twice. And I don't care what type of trader you are or what type of process you are trading. If you break even the most specific little rule, right, that it doesn't seem like it's a big deal at the time, you might make money once on it. You might make money twice on it, again, right, anticipating the move. But overall, remember, the casino is always going to win, okay? And Friday, I broke the most basic rule in the PS60 theory. And the pivot worked. The pivot worked for $3. The problem is, I went from step one all the way to step three. And the problem is I eliminated step two. And step two is the one that killed me, right? Step two is the one that killed me. And it took me literally, and again, it's what, Sunday morning, it's 10.15 in the morning. This is three days later. I'm still talking about it, because again, that's the way I try to rationalize what I did. That's the way I try to compute of the stupidity that if I continue to do something like that over and over again, over a longer term period of time, all it's going to do is cause me a lot of mental anguish. And again, that's what we're trying to convey to the newer trader here, okay? It's not about the trade, okay? It's about you having the ability to sustain your levels of rules. If you break rules, you will die. Again, we've said this, again, numerous times in the past. And for some reason, my thick skull, every quarter, every four or five months, has the same thing over and over again. So if you're a new trader and you're constantly breaking your old rules and you know you're doing a poor job at it, okay? Don't worry. Ten years later, you will still be breaking those rules. The good news is you're going to be breaking those rules a lot less. And the good news is the half, you know, the glass half empty, glass half full part of it is, well, you know, I'm conscious of this now. It's probably not going to happen to me for the next two, three months, okay? So that's a good news. But eventually, again, I know I'm going to catch FOMO. And even at this advanced stage of my career, and again, two decades, I'm assuming it's pretty advanced compared to a lot of people, okay? I'm still going to do it again. And the most amazing part is we know we're going to do it. And we still can't stop ourselves from doing this. So if you find yourself if you're a new trader and you're trading for two, three years, okay? Don't worry about it. The mistakes you're making now, except you will continue to make them down the road. But the good news is you're going to make them less and less as time goes by. Again, time will make you whole. Will make you 100% whole? Absolutely not. Will you get that trophy at the end of your career? Absolutely not. Will you get that conviction that you finally made it? Probably not, okay? This is, again, a thankless business, okay? There is no trophy. There is no finish line. There is no top of the mountain. You're constantly proving to yourself what you can possibly do if you continue to trade poorly and act on impulse instead of acting on technicals. And again, technicals at the end of the day are going to be your savior, your lifeline, okay? Your champion, your white knight, okay? The faster you realize that you can't will the market to do what you want to do. You can't will your trade to do what you want to do and stick to your rules, stick to your process. Whatever that process is, okay? The faster you finally come to that realization that it will happen again but over time it's going to get easier. That's at least where you're going to start maturing as a trader. So am I going to break rules on Monday, tomorrow? No, I'm not, okay? Because I'm very, very conscious of it. But I have to accept the idea that I have to be mentally sharp every single day. You can't turn a premium day into a day that you break a major rule and take a pretty penny loss on one specific trade. And it's a constant reminder that Monday morning, we have to be sharp. Tuesday morning, we have to be sharp. We can't slack and we can't rely on what we did the previous day, the previous week, the previous month and think it's going to be okay. The market's relentless. It will destroy you, okay? It will destroy you financially. It will destroy you mentally. And it's our job to really understand that this is on the table every single day. And if we don't feel like trading, don't trade. If you don't feel up to par, don't trade. If you're not mentally focused, do not trade. It's a sign of maturity. It's not a sign of weakness. And again, got to get into our big beautiful skulls that this is going to happen again. Other than that, you know, and again, this is therapeutic for me, okay? A lot of traders don't have another, you know, another trader to talk to or they don't have, you know, any other form to kind of vent their feelings and they keep it inside. And what they do is they bring it over. They carry it over to the next trading day. This is my healing process. If I can't discuss my feelings, if I can't discuss what I'm going through with other traders, well, what the hell is the point of this, right? What the hell is the point of having people in your corner? What's the point of having people understand? Again, nobody cares, okay, about what we do except for other traders, okay? Again, your wife doesn't want to hear it. Your husband doesn't want to hear it. Your dog doesn't want to hear it. You have to rely on other people. You have to have a good foundation. You've got to have a good nucleus. And again, the further, the fastest you could realize what's going on, the faster you'll be able to at least put a band-aid on it, okay? Pacify it for a little bit. It will happen again. But at least we're conscious now going forward that again, Monday morning, I got to have my A-plus game. Other than that, it was actually a pretty good week, okay? Pretty good week. Earning season kicked off. We saw earnings with Netflix, with Tesla this week coming up. We got a big, big, no, we had Microsoft earnings, Intel earnings, which is amazing that Intel, Microsoft had crappy, really crappy numbers, or at least crappy results on their numbers in the market. It actually held up very well. If you look at the indexes throughout the week, again, really not that hard, but 1% losses pretty much across the board. The key level here is what the NASDAQ 100, the Qs, did on a closing basis. Again, you can make an argument again. We had this hammer, we sold off, we confirmed. But this is actually the first close underneath this whole rising wedge since March, okay? So this is kind of a big deal. And I think Monday morning, if you're charting, you'll notice a lot of things that happen. You'll notice a lot of stocks putting in hammers off a lot of levels. So for example, Amazon, right? Reclaimed. You looked at, for example, a BYND, right? Reclaimed. You look, for example, a stock like Netflix, reclaimed, right? Reclaimed. So there's a lot of names. You could go through a lot of charts. You'll see a lot of similarities. This is actually very, very bullish in a weird way how the stocks reacted fighting back. But the only problem is now they have to reclaim macro. Reclaimed macro area is going to be this 257 level on the Qs. This is the area now. This is the line in the sand for the bulls to get really, really healthy. Because again, if we gap up on Monday, and there's a shot that we do, again, I'm doing this video at 10.15 in the morning. So we don't know what kind of news we're going to have throughout Sunday. Again, we had that news break about an hour ago when you can talk about more possible stimulus in the second round as early as Monday. So maybe that gives a jolt to the markets, but we don't know how the futures are going to react and what other macro news can break from now until the start of the cash session this evening. So we don't know. But ultimately, for the bulls to really reclaim this whole trend, we have to reclaim this 257 level. What this support was, now it's supply. And for the bulls to have an upside bias, we need a 257 close. If we get rejected there, then we're going to start rolling over. And obviously, the downside area is 244, 245 on the queue. So it's very, very important. Other than that, very, very good week, other than my stupid NVIDIA debacle, let's get to the pivots. And you'll see some really, really good action. I mean, incredible action. It really does show you how one chain of events can really put you on tilt. And again, maybe I'm over being dramatic. But again, it's more of the executions, more of the mental mindset than any individual trade. And the bottom line is it's your overall technical approach, the way it's going to set you. So if you look at Friday's pivots, there was actually some really good stuff. And this is why I'm very, very disappointed in me in my execution. So first and foremost, congratulations for all you guys who came in long Netflix puts. Obviously, the big line in the sand from Thursday was that 484, 486 level. And, you know, stock opened down, went down to the four, you know, four, six, high four, sixties, really, really nice move here. So I caught this trade really well here on Tesla. The problem was I was trying to make back my NVIDIA loss. 405 line in the sand, experienced traders only. And again, isn't this ironic? I didn't go in on the first move. I went in on the second entry, right? Second entry, second entry, second entry in the NVIDIA. I went on the first entry, right? 1405 line in the sand, experienced traders only. Possible move to 1376. So here was Tesla, it put in its initial move. So 1405 was the pivot, right? So 1405 was the hot low here. 1405 was low here. If you guys remember, it put in its initial move to about 1401 and then bounce, right? Bounce to 1407, 1408. So that 1401, 1400 was the second entry. So I got short Tesla and it got murdered. It got absolutely murdered. The problem is obviously I'm trading less size than Tesla than I am. I went full size on the NVIDIA. I'll explain it to you in a second. So it sucked, so it sucked. So I netted out, you know, I netted out and I covered too early. I was just trying to make as much back as possible in the NVIDIA. So I covered early. My lowest cover was down like, like down like 12 or so. And it sounds great. It looks great on paper, but again, I'm trading Tesla a lot smaller than I'm trading the NVIDIA just because of the average range. So it actually went, if I would have held it again, if my uncle, if my aunt had, should be my uncle. So the idea, yeah, if I held it through all the way to the whole move, yeah, I would have been really, really good on the trade. But I didn't. Obviously 35 point move down when you're playing from behind, trying to chip away. And that was the problem. But again, really, really good pivot there at the time. Amazon 2937 for builds below can flush. Now, again, I didn't take Amazon because again, I was fighting with NVIDIA. And this is all part of the game. How one individual incident can really affect the whole day. So it takes out 37 and the stock that's murdered goes down to 2888. Again, look how one single event can change the whole landscape of the day. So that got destroyed. Netflix 470 filled builds below can flush. That got obviously, that really, really got smacked all the way down to 467. So again, you can see I really screwed up a premium day here. Beyond fantastic guys. Great job for all you guys who came in. Short beyond puts, that 125 macro was a huge number. But 12430, 124, if it builds below can flush more. Here was beyond. Right? Here was beyond. Here was the 124. Got all the way down to 120 and changed. So really, really big move there. Facebook 229, if it builds below can flush more. Here was Facebook. Destroyed. So again, I'm sitting there with a premium day and I completely destroyed everything. 229 went down to 226 and change. Again, it wasn't the pivots that messed me up. It was my execution. Alibaba 24434, 244, if it builds below can flush. Here was Alibaba. Right? Here's the 244. It goes all the way down to 241 and change. The video. So here it is. Right? Here's in the video trade. And it wasn't the pivot that was wrong. It was my execution. So yeah. So here it is. Right? 394, if it builds below can flush. There was nothing wrong on it. And if you look at the pivot and you say to yourself, wow, Dan, great job. Right? Here, right? 394, 394, 394. And it goes down to 391. So what's wrong? Great trade. Right, Dan? The problem is I went in on the first shot. Okay? I started hitting those 394 levels and it goes down like 60, 70 cents. Right? So it put in a new low of like 393.20s, whatever it was. Okay? So that was the first move. That was the second entry. 393 was actually the second entry. Instead, they spread me out and went all the way back to 397. Now again, you turn around and say, what's the big deal? It's only three points. Well, I was in full size of those three points. And when you get spread out in the video in full size in $3, it's not a good thing. And the most amazing part, here's the irony. If I followed my rules, if I followed the process, I would have taken the second entry. I would have taken the worst case. Worst case, I would have taken down a couple, right? I would have taken a couple points, break even on the balance. Nobody cares. I would have had a really good day. But again, brain fart, your human life goes on. But again, we have to be conscious of our faults. So again, you can see how quickly, again, one little isolated incident can have a whole domino effect to what happens here. 363, again, you can see the pivots were phenomenal on Friday. I just screwed up. 363 held twice. If it builds below, it can flush more. Here was Apple, right? Here's a 363. Here's 363. It goes all the way down to 356. Destroyed. Apple got absolutely murdered. AMD was actually really good to the upside. 6480, 65 needs to build for more upside. AMD exploded, right? Really, really exploded. So here's a 6480, went to 70 bucks. Big, big move on AMD. Congratulations for what you guys caught that as well. Even this little piece of crap before it rolled over, had a nice move here. ABUS 76577 needs to build. Oops. So here's ABUS, right? So here's the, here's the 7, excuse me, where the hell was it? Oh, here it is. 765, damn thing went to $9 before it rolled over. So even that was actually pretty good as well. ABUS, so you could clearly see, I just really messed up a premium day. GRAF went down to like 1530s, nice move on that. Tesla got destroyed, Facebook got hit, Beyond got hit, Boeing I still like, never got there. Now, again, because of what happened to me in the video, it completely took me out of my game. Completely took me out of my game. 1438, just to give you an example here. 1438, I got long Tesla. It only went up $3, that's it, at one point. Went down five, so I wound up, so I netted out, the most amazing part is I netted out probably about $6 on Tesla, which sucked, which absolutely sucked, considering what it did. And then I never got back into it when they finally confirmed back to 1445. All it did was go back to 1468, so I didn't need that as well. So again, one little isolated incident, yada, yada, yada, yada. So yeah, just wasn't my finest outing. Netflix had a really nice move here, 482 needs to build. Here was Netflix, here was Netflix, right? Here was a 482, went to 487. Amazon 2970, there was a big pivot to the downside, big pivot to the upside, 2970 needs to build. Look at the upside pivot on Amazon. So again, I just took a monster premium day, messed it up, 2987, went to 3030, huge move. Huge, huge move there as well. Yeah, 3000 supply coming up, 86 supply coming up. Even Zoom had a nice little pop, quick little pop here, 248, 50, 249, went to like 251 and change, right? Here it went right to supply. It wasn't just meant to be a quick trade here, point and a half, so. So you can get the point, you know, you get the point here. Roku, I still like Roku. I said take on the way up. Oh, excuse me, I feel like this is my best trade of the day. AT&M, I started buying this stock at 52 cents. Somebody bet the 250 calls. The one thing I've been making money on, on these little small cap sweeps, they've been really, really good. So I got one at 52 cents. I took a quarter off after hours at 57 cents. Actually, it looks pretty good. Who knows, maybe they run this thing up. I know they have some sort of leukemia, something or other in the next several weeks. So that was up. Oh, yeah. So, again, here is the salt on the wound, right? 1424 sneaky area, five minutes support is 418. If it builds below, it can flush. 415 now is lying in the sand. Look what Tesla does. Congratulations to all you guys who caught this move here. So look what Tesla does, right? So the 415, let me show you on the five minutes, you get a little better idea. You see this whole 1415 area, right? That was the line in the sand. Once it broke that 415, it only put up a $12 candle in a few minutes. So, yeah. So Tesla was actually a monster trader on Friday, and I just messed up the whole day. I just literally messed up the whole day. Obviously, take on the way down the $12 candle. So solid week, really solid week. Solid week, Friday, I still, again, three days later I'm still talking about it. But again, guys, it's just so important to identify your mental deficiencies and really work on them. Again, is it going to happen to me tomorrow? Probably not. Is it going to happen to me a week from now, two weeks from now, three weeks from now? Probably not. But eventually it's going to happen. But again, as a new trader, just understand this is going to be part of your business for a long time until time will make you whole, right? Seven, 10, 12 years. That's the overnight success everybody talks about. It's not the person who has a lucky trade. It's all about longevity, and you're going to hit a lot of potholes. So stop romanticizing this business. There is no prize. You have to work on being a better you, and that's the name of the game. Guys, God bless. Hopefully we'll get some really good value on Monday for all of you guys who are joining us. OK, 9 a.m. starts morning strategy. And with God's help, I'll see you there. Take care, guys. Congratulations for putting in the time to take control of your trading. You're one step closer to owning your future and achieving the success you desire. Want daily trade ideas directly from Dan? Straight off his personal watch list? Unlock our free PS60 vault where you'll get nightly updates on pivot opportunities we're watching for the next day's session. Click the link in the description to get started today.