 Okay I'm back. FSLR was yesterday Kuala Bear, I think really there. I really only have one watch today and I wanted some other ideas but nobody's really given me any other ideas that are good ideas. So I guess this is it. Either works or it doesn't. Sega's out. Thing to do here this Amba. So expect whip just like the CCL. I know Jackie you gave me more ideas than anyone. Thank you. I wish I liked them. I wish I did. Doesn't mean you shouldn't give them to me. I'll weed through them very quickly. What's good and what's not good. I mean this is a good algorithm. It rates well. I just don't know if it's gonna work. Write which it has to. A and B it's going to be whippy. So if we do it we're getting out very very quickly. And no I don't like this. I know you're trying but in these types of periods right now where we're in between earnings seasons which we are we have to be very careful. Actually there were some good watches. There were some decent gaps in the last two days. So I just want to make sure I'm not missing anything. That's why I say give me give me every idea you have for everyone. Not everybody writes stuff but the more the better that I can flip through it very quickly and see what's good what's not. But Sega's not a good long. If the market holds today that might but I'm not certain that happens either. I'm certain one thing though. Mark is gonna have a big move today but I don't know what direction it's in. So take that for what it's worth. I can that's very obvious to me today. So we're gonna just do this and we're gonna get out quick if it sets up and then if for some reason the market decides it wants to drop today then you could retake this if you want to. And now we have a big spread. Where did that come from? Everyone should be out of Netflix though. Vodz is out of it. Thank God. Alright here we go. Let's see what this puppy is gonna do. It's looking good. Alright don't be in it yet. I'll tell you when. Look at this sitting here. It hasn't moved. Okay stop's gonna be 65. 39 by 65. Amber. It's really hard but don't take it till it hits. Oh it's sitting here but really don't take it till it hits in case it pops. Oh crap. There I didn't get it. There it goes. There it goes right there. That was it. Oh man no I did not do it. It just dropped. It just did anyone get it. I didn't want it. Here this is it. It's gonna go to 43. Oh gosh. Darn it. If any single solitary human being in this room just did that trade get out of it before this bar closes. I think we're gonna get another setup. I did not hit it. It looked like it was gonna go and I just didn't want to do it because it could have flown over at the 45. But in the moment that it hit that number that I called it just dropped almost a dollar. Can you freaking believe that? Did anyone get it? That was an amazing call. Two seconds there I almost hit it. But you know what? By the time you put the stop in these ones like that it may not hit you out. Like if that had flown over 45 you would have gotten blown through your stop. Here let's just get another setup in it. Wow this is gonna go. BigFudge got it. Best Trader got it. Dibod's got it. Best Trader got it and jumped the gun. Yeah here it goes. It's gonna go down 43. This could even swish right now. It was a great call. I really didn't want to do it till triggered. I'm trying to be strict. It's not early in season. But as soon as it hit the number that I told you to take it it collapsed. A dollar. I think we're gonna get another setup in it. I really didn't want to do it. This is gonna go right to 43. It's swishing. Alright so we're gonna get another setup in it. But literally there that was amazing. Alright let me just double-check everything else here. Let me just double-check everything else. Alright let's see. I don't know how to feel like that was gonna happen. But you know with the volume in it I thought it was open. I mean you watched it. It wasn't moving. So then part of me was like okay it's not open yet. But the volume was there and I'm like crap. And then it went. I mean the proper thing to do is not take the trade till triggers. So and if I had pressed it I would not have gotten filled anywhere near the number that I gave but it went right into the money. Here let's just say we're gonna try to cheat the entry here I think though people. Let's see what we can get. Okay we're gonna do this if it hits 45 it's gonna be a bigger stop by 10. 45 by 10. 45 by 10 if it hits AMBA. And we get something better I'll let you know. Those of you that did that first trade though that was amazing. And you definitely should be out. Wow a lot of people got it. Am I the only one that didn't get that? Okay let's watch it here. 45 is valid. 15. 15. Here it goes. This is rocking and rolling. Here you had to be in it. 43. 43. Watch for bounce AMBA. This is better than not doing anything at all. It was late. It was late. We're cheating the century a little bit because the first one was a one. Put it at 44.15. I forgot to wait. This is really moving fast. I think it keeps going now here. You got to watch it. Watch it. I can't look at any of your questions right now. This is moving way too fast. 08 was the low. It's got a break 43 arm out because this is a late trade here. Here here here. 43.05 was the previous low. Here here here. We could watch it a little bit see if it sets up again but I don't want to hold through a bounce here. Good exit. Okay excellent excellent to you. Here this was really the one and I called it but it just went too fast. Now this was late. I mean this is don't ever do this without me. This is completely just cheating the entry 100 percent but we got something. Now let's just watch it and see how it acts. I think it's gonna bounce back somewhere in here. All right that was good. Excellent. All right here's the market. Kick-ass on that one. Yes. Hold on one second. It's gonna be a big move today. Market's gonna have a big move today. It's either gonna be up or it's gonna be down. That's all that I know. All right let's go back to the ambient. All right is anyone still in? Watch this for a little bit here. I don't know if it sets up again. It's set up twice. It's gonna try to break 43. If you're in the second trade it was late. Cheated the complete entry in that. You had to follow me. It's gonna bounce somewhere. I'd really put the stop a break even if you did that second one. And if you did the first one you absolutely 150 percent should be out. This is moving very quickly though and really could break 43. Bradniss both. You obviously did not have your coffee today. I did. Let's see where this could really go because I didn't really look at these kind of targets for this. Here here here. Amba. Is anyone still in it? 42. Here it goes. Here it's gonna break 43. Anyone that's still in amba. There it goes. There it goes. I just broke 4280. Boom boom boom boom boom. If you're still in it, hand the button. Look at this. What a nice call man. The second cheat entry even went big. Can you believe that? Here 4260. Where did it get? Somewhere in here is gonna bounce. I may not retake it because I'm very happy for getting it once I missed this beautiful call. 68. I think 42 could happen here. 4241. I mean this is just straight selling down like a Banshee. Bradniss don't chase it. You have to be careful with what you're doing. You missed the trade today. You missed it. Here amba. Some people are still in it triple seven. Literally. Your hand should be in the button. Beautiful short. Well only one thing to look at today. Luckily it rated well. I did know if it's set up or not. I did not want this to go over 45. I didn't jump the gun in the entry. I really think it's a good policy particularly for you know these in between periods where we don't have a lot of gaps. If we had jumped the gun on this and got flipped out of it we wouldn't have anything else to play today. I mean there was no other watches. Nothing else I liked. This is still going. Is everybody out of this? If you're not put a stop over 4270 and call it a day. I mean you could write it down if you're still if anyone in the world is still in this. Just put a stop at 4270 and write it. Galahad did you do this today? Brad you really weren't awake today or something. I don't know. Everyone should have got it. Because if you didn't get the first one you got the second one. Here's the market. Wow. We are gonna do something today. All right where was I? Sick. No one should go along this but if you did it was a $2 stop and it looks like it moved a buck. Well a little bit more than that. I just don't like this here. What was the other one? Oh Netflix. Debats is still in the second trade. It would not be. Mark, my old miss the first one. I got the second one. I mean I'm surprised how many people got the first one. You jumped the gun. You obviously did. There's no way you could have not jumped the gun and gotten that second trade. I mean the first trade. I do think this was the open though. It's just that this is wild. I remember this as wild just like CCL was yesterday. Oh Starbucks and CCL. Did everyone see how they closed? That was like watching paint dry in those yesterday. But they both worked later in the afternoon. They just ran out of time. It was like they were they were heading down. Let's I forgot about these. Let's look at this one. This should be lower. Let's look at this. This didn't get down today. Now let's push you back. This is kind of a mess. Yeah, just like I be. Alright, Amber, I think that's it because we did two in here and had a big move in the markets. Anybody's guess and this is not another setup in here. We really cheated the second entry and we got it. This had a big move. I'm not saying you can't play this at some point later today but I certainly wouldn't go back into this 10 minutes into the open here now after the move it just made. We got it. We got it was a great call. You'd have to play it again in a higher time frame if you'd want to do it. It's not to say it doesn't keep dropping. I think 42 is really probably gonna happen here by 10 o'clock but there's no proper entry in here. Remember, you need that with the stop. And actually that reminds me of something that I wanted to say. Brad, are you listening? Brad, are you there? No, I didn't call this again in here because this isn't this isn't something I don't think this goes again in here. I mean it might not. I didn't call anything again. There were two trades called in this and the second one was a cheat. Don't do that without me. Brad had emailed me about Starbucks or something. I don't know whatever the one was you were in yesterday Brad. And then it reminded me of something that I thought was a good point that I wanted to make for both Brad and Gala had. And actually this is a good overall point for the market as well. What's the most important? I'm gonna ask before I say what I'm gonna say. What's the most important thing to make money in the market? Anybody? Anybody at all? I just wanted to make sure that Brad and Gala had were listening. What's the most and what's the what's critical? What do you have to get right in order to make money? Triple seven says money management. Green Maverick says manage your risk. Mimi says consistency. James Diaz says listen to Melissa. James gets the star because James is right. Not to chase it and check it out. Since Vincent. Mountain Girl says institutional buying and selling. Koala Bear got it right. I'm not gonna say it out loud yet. Let's see if anybody else is anybody else has been anybody else to say anything else to say. James said listen to me which is basically the right answer. But Koala Bear really gave the answer that I was thinking. So does anyone else want to say anything before I say it? You got to get the direction right. So the number one important thing is you have to get the direction right. So you have to get the direction right but something's going. And Mountain Girl I think she kind of meant that when she said institutional buying and selling because that's what's gonna that's the direction. You got to be in something long. If it's rising and but today is selling off you want to be short the stock. You would not want to go along the stock. Nowhere, know how. No time today. Okay. So the most critical thing to make money in the market whether you're an investor or a day trader but but particularly if you're an active day trader you got to get the direction right. Okay. So that's number one. What's number two? What's number two after the direction? What's the next most critical thing? Trend trader got it. Broad got it. I'm not gonna say it yet. Here you can do this if you want it. You can do this if you want it. This is a scalp if you want to put the stop at 4325. It's a big stop. It's gonna roll over right here. If you want to restart in but right here you can do it right now. Put the stop at 4325. I'm not doing that. I'm done for the day but it looks like it's gonna head right down to 42 if you want it. Brad and trend trader got it. Koala Bear got it. Number two. Number two after you get the direction white. What's the second thing? A bunch of people are saying manage your risk and sizing and actually triple seven said that earlier too with money management but the bottom line is that I'm not even gonna put them on the list. I'm gonna I'm not even gonna say that sizing proper sizing or money management on the list because that's just that's just a given that is so that is so basic that no one should ever get that wrong and yet people do. Here this goes. Did anyone just do this again? You're scalping this. You're literally scalping this down if you did it for a third time. Anyways the second thing is you got to get your entry right. Jackie said learn the course. That's that's also the right answer. Your entry. So first you got to get the direction right then you got to get the entry right. Money management is a given. It's like saying you got to get out of bed in the morning and open up your eyes to see the chart. Looks like I'm not even gonna go over that. That is a given. It's just common sense that you cannot risk a different amount of money and every trade and manage every trade differently. That's common sense. In fact it's so common sense that I'm not even gonna discuss it. Here did anyone just quick do that? If you did you had to scalp it. Be careful. Anyways so it's the entry. So guess what? If you get the direction right and you get the entry right guess what? What's the what's the next thing I'm gonna say? What is it? What do you think Gala had? Brad. What's the point I'm trying to make? Trend traders saying exit. Brad's saying when to get out. Vincent's saying first exit. Nope. Guess what? There is nothing else. The exit doesn't matter. Of the 200 plus trading days in a year. Guess how many times the exit matters if you get the direction right at the entry right? One. Maybe two. And the reason I'm saying this is because yesterday is a good example of that. The I missed the exit yesterday in CCO. That might happen twice a year for me. If that. Okay. In fact, I can't remember the last time that happened. Bottom line is if you get the direction right in something and you get a perfect entry which I do. I do 99% of the time where you get out doesn't matter. It does not matter. It does not matter. It just doesn't matter. The most important thing is getting the direction right in the entry because where you get out then doesn't really matter. You can make a little, you can make medium, you can make a lot. It's up to you. Yesterday I missed the exit. That might happen twice a year. Okay. And it was just such a freak thing that you can't really worry about it. But bottom line is it is extremely important to get the direction right. And it is extremely important to get the entry right. And one of the reasons that we make money so quickly here is because I'm so great with the entries. So where you get out isn't that important. If you find yourself being overly critical of your exits in your trades, then you're missing the boat. Okay. Because it's not that important unless you miss your exit completely. And you fail to get out at what is then the low of the day and the stock never goes back to that price. And actually CCL did go back to that price. And it actually did go back exactly to the number which kind of sucked. There was nothing I could do. No way we would have had to stop over 62. No way I would have ever called that. But you know looking back at this I'm like well that's really interesting. The read on the gap was perfect. The entry on the gap was perfect. I missed my exit. But as it turns out it went back to the price that I could have gotten out of in the morning later in the day. And not that far away. If I didn't use stops which I do and is is credible to day trading. Which so I'm not going to stop doing that. I would have ended up with no loss in this and the amount of money I had for the morning. You know this happens like I said once or twice a year when I'm expecting a bigger move in something and then it has that John Mungus move of the high. I did not want that to happen today in this. So we did the second trade. But overall you know it doesn't matter where you get out. If your profit is your profit and you're consistently getting the direction right and you're consistently getting the entry right you are making money. And that's what we do. The amount of the total amount doesn't matter because sometimes it just will be a lot. And sometimes you'll get out and it'll keep going. Like if you got out of this first trade today in the first two bars. But that wasn't the wrong thing to do. That was the right thing to do. This had a big move. You could have never predicted that this would keep going. And I'm specifically referring to Galahad because this because Galahad is always trying to pick where something's going to go next. He's more concerned about the future than he's concerned about the present. You need to be concerned about what is happening right now today. You are convinced 150% that Netflix would continue. Guess what? It's not. It's not continuing today. You were wrong. You were flat on full-on wrong about this. But it doesn't even matter. You shouldn't even been thinking about this. You should be living in the moment of what you're doing right now. Right now today live in what's happening right here. Whatever you are in you have to live in the moment of what's happening. Okay. If you are taking a trade. Why is this not coming over here? If you're taking a trade and you've got the direction right and you've got the entry right that's it. That's all that you need to worry about. You got to focus on what's happening in this moment. If you're on tomorrow, if you're on a week from now and this is you know if you're doing a overnight or swing trades or options you're completely missing the boat. You're not living in the moment. Which is you're up this amount of money right now. What's the stop doing? What's happening? Do the direction right? Do you have a good quality entry? Third trade you took a loss in in what? No one should have any losses today in this. If you did this here you should have gotten out whether it's here or here. If you did this with me here you should be up money and gotten out where I told you to get out. If you did this in here first of all I did not do this but I said if you want to do this you can. What did I say? If you do this you must scalp this trade. Scalping means what? If you don't know what scalping means you shouldn't do it. Scalping means you take it and you go down down down down down down and as soon as it starts to back up at all you got to get out. Scalping which is not what we do. We're looking for nice solid fluid moves which was these first two trades in here or you did it all in one or you did it in two. A scalp is to try to get a push down in here where you're going to get out. You're not looking for any target any risk to reward. If it starts to back up at all you take it out. You should not have stopped on this trade. You shouldn't have let yourself stop out in this trade. You shouldn't have done this trade at all Galahad because if you did this trade and made money you should be happy and stop and your goal should have been in for the day. If you hate scalping I don't know why you did it. Anyways the reason that people find day trading challenging is that they are horrific at entries. That's really why people suck at day trading and that's something that I'm very good at. Now there are times where people get the directions right and stuff. I think it would be hard press for any day trader to look at a AMBA today and decide to go long yet although there will be some idiots to try to go long this in here if the scoop's around in the five minute but bottom line is this stock will stay red today but entries are challenging for people so then they they focus so much on trying to get the maximum maximum maximum exit that they can because of piss poor entries. We don't have to worry about that because the entries I call I call in shorts are usually near the high of the day. I mean the entry on CCL yesterday in the morning was the high of the day. The entry in this today was the high of the day. J and C the same thing. So you know and NKT are the same thing. Don't worry about where you're getting out. Just make sure you do the entry when I call it. Now you do have to do it. So if you miss this here you had to do this one and if you missed them both and you know you didn't have your coffee this morning. But if you're in a long-term investor it's not as critical. It's not as critical you have to be in the right direction and that's pretty much it. I mean it's just if you know if you're a long-term investor and you're in Amazon well let's just go to Netflix. If you're a long-term investor I wouldn't buy Netflix here but you know what you could you could the directions up it's moving higher. If you buy it here today and it's in your retirement account it's going to wiggle it's going to jiggle I'm not saying this holds this price but this stock is higher in the next 12 to 24 months and if you're not retiring for the next 15 years you can buy this stock today. The entry in this is not critical now if you know how to trade you could take a good entry and get the direction right but if you're just a person you've got to get the direction right if you decide to take a position and you have to be in something that's a good quality stock to be invested in specifically if it is your retirement. But the entry isn't that important if it's moving higher get in okay and your exit isn't anything you're concerned about because you're not thinking about targets if it's your long-term investment you don't need that money too much later in life and even at the point you need it you'll take it there's nothing to do about where the stock's going all right. So day trading and investing is very different and some of you in your minds that are doing these options it's really messed you up and I think you can look at options just the same way you do with day trades. You take the move you get in the move you have the momentum you make money you get out of the first target boom you don't have to hold these things forever. Now Dubai said a great trade yesterday held Netflix all the way up near the top and you know this could still be higher it's got a week left but you know I think the exit on this yesterday was a good exit a solid exit. This is setting up again I really wouldn't do it but if you're dying for another trade this is a proper setup and it's not a scout you can short amber right here right in here and put the stop at 75 tight it's not a small stop the stop is 4375 it's almost a dollar it's a late trade it's setting up on the five it's triggered if you want it you can do it but I don't know why you would if you made money in the first two trades today or scout the third trade properly then you're out for the day and you should stop because I don't know where the market goes today and I said that 20 minutes ago anyways I hope I made my point I hope I made my point my point is that it doesn't matter where you get out if you get the direction right and you get a good entry the choice is yours you're in control of it you can't make the stock move but you're in control where you want to get out if you have to book money every single second of your life that you're breathing then as soon as the stock starts to back up a little bit get out what do I mean by back up the stock drops you're up $100 $200 $300 $400 now you're up 350 then you got to get out okay that's what I mean by by by backing up not that you'd be negative but I mean you're up more and then you start to not be up as much and then you take it off that's what I mean but you have freedom of choice if you want to hold something it's not like you are restricted by the market or the stock itself it's not controlling you you did what you needed to do your job is done you got it yesterday was a freak thing and it happens you know maybe once or twice a year gala had lost money today I don't know maybe you guys can give some gala had some advice how is it possible that any person on this in this room here today could have lost money shorting amber I don't see how that's physically possible I just don't um does anybody else have any other questions james says listen to Melissa don't make this overly difficult yes thank you brad's saying he waits for it to drop more brad are you in this trade here now this is a big stop but you could be in this now 75s a stop if you take 100 shares you're risking 100 bucks or thereabouts but that's what I'm saying brad it why why you're waiting for it to drop more I get it I mean yesterday was a different situation like Starbucks for example this looked so good so good in the afternoon I mean this had 50 places to add in here I don't know if anybody did any ads I only sent the one email out but I mean this was like holding holding holding this just I thought for sure between 330 and 4 this would drop and break 5550 like it could have happened in two minutes it never did but this was this looked so great so there are times we want more but the difference between wanting more is looking at something like this how can you want more when you have something that that just did this like that's you know what I'm saying like don't want more if something just did that you shouldn't have wanted more if you did this if you missed it it's your own fault do better tomorrow do better tomorrow now this I think you could be in but you're taking a chance here it's very very late it's 10 o'clock I don't know what the market does it's a big stop if I were conservative and I would you I probably wouldn't do anything today and I said well tomorrow I gotta get up early and I gotta have more coffee and I gotta do better tomorrow and I have to be focused I'm saying if you took the scalp con you didn't get out and backed up but galley had said he did this call galley had did this call which made money so again how is it possible that galley had could have lost in this today that's just not possible unless he didn't size himself right so if he did this trade which he said that he did and made money and then did this trade and he stopped I don't see how he could have lost and yet he did he signed out what are you doing are you in this are you not in this what's happening with you so everyone made money today but galley had brad was flat brad isn't in it he's being ultra conservative that's fine let me look and see what's out for tonight nope he said he did the second trade he wrote it in the room I can't really see anything amazing tonight anyways used to have that argument all the time with a person that I used to talk to trading about which I haven't talked to in years about the exits he was a fanatical he would almost rub it in my face every day where he would trade all after the end of things went farther and I I got out in the morning which I always do and I had a perfect entry and made money got out and he would be in it all day get a bigger target but he never traded the size that I did not even close not even half not even 25% of the size that I did to be trade so he would hold something all day and make less money than me or maybe he'd hold all day and make the same and that to me is idiotic so you know part of the incentive also of wanting to trade with size which it does take gumption to hit the button with a couple thousand shares really quickly but the relief is that you're out so quick it sucks when it stops but if you can stomach the risk you know you're done and it's not scalping because we're getting to move but to take that kind of size and get in and out really quick it's you know I think it's easy whereas if you're in something like if you'd had now just listen to me here if you had amber and you took it at 931 and let's say you took 10,000 shares I'm just going to throw a number out there to make it seem crazy since let's say you took 10,000 shares of amber at 931 and you're up as soon as it hit and you're up here now even and you've got to sit in the trade all day to try to get it down to 42 or 41 which you think it's going to go and it looks like it's going to but you don't know because it's not there yet you've this huge size and you're up in the trade but you don't know and what if it flips around and what if the market goes green and what if the market turns see that's not the mentality to me of a day trader what we do is more day trading to sit and wait all day for something to go to some big number with size I think it's very very stressful so much easier to take it in and out quick specifically with size holding all day versus quick in and out for same similar as far less powerful trade exactly exactly all right I don't really like anything tonight but it doesn't mean we're not going to get anything tomorrow it just means I don't see anything that I'm like in love with and thank god everyone's out of Netflix and here goes the market market's gonna have a big move today and it appears it's gonna be down but that is very very interesting we are going to sell off like a banshee today big red something I mean it could we could have gone either way I knew we'd have a big move today we will I didn't know if it'd be up or down like I said this morning but this will not be a baby red all right what do you want to go over any questions from anyone at all good day nice soft affordable day any questions talking to myself right listen no one has any questions had a good day I have no clue what we do tomorrow I know that there isn't anything on tap so we could get one out of the sky you never know and certainly we will have market is gonna move down today in a big way can you believe that you stinker this is gonna people are going to get crazy do you buy it's my money today congratulations congratulations I'm headed to the gym I'm on tv later I'll see you all of you tomorrow morning very good thank you