 Welcome to Access a 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 everyone, welcome to another edition of TheAxisTrader.com. Thursday update, Thursday ready, good, one more day in the week. We're almost made it through, tank almost on empty, brain as usual fried for a long trading week. We've got one more day in us and hopefully tomorrow we'll get some pretty good value. So hopefully everybody had a good trading day. Okay, so let's kind of rewind, you know, 24 hours ago, okay, came in cell biased, did a very, very prudent thing kind of, you know, let the market come to us. A couple of scalps this, that, and the third. Going into today's session, I was, you know, very bullish, you know, incredibly bullish. I thought if everything played out today, I thought we didn't need to be very creative going into today's trading day. We had a lot of value, okay. We'll talk about the pivots in a second. Usually when I'm putting in the pivot feed in the morning and it's dominated by Apple and NVIDIA and Amazon and Facebook and so forth and so on, you know it's going to be a value day. The days that I'm putting in, you know, stocks like Lowe's, and there's nothing wrong with Lowe's, Home Depot, Target, you know, like names that, you know, names that I just don't trade. You know this session is going to lack a certain amount of value, especially at the open. And again, what it really does prove that you don't need to trade every single day like it's your last, and yesterday's session proved it. Again, I waited for my, you know, I waited for my thesis to play out. It didn't play out. I took the other side of the market, scalped some things yesterday, and we waited for value today. And the only difference between yesterday's session versus today's session was new day, same process, our convictions today played out the way we thought, and so forth and so on, moving on to the next day. And it really does prove, especially for the newer traders, is you don't need to get frustrated every single day when your process is not being spylated, okay. You know, you can look at the indexes, and it doesn't make a difference if the Dow is up 2,000 points, but your specific way of trading is just not being set in spotlight. And the faster you acknowledge that this is a very, very bad way to kind of navigate the markets with, you know, when we talked about the D and C and B level setups, eventually you're going to stop with the FOMO. Okay, the FOMO doesn't go away. It will never go away. We're human beings. We're not robots. We're not black boxes and gray boxes and quant models. We're human beings. So we are going to make, at times, rational decisions. So FOMO will always be there. But again, the longer you trade, the sooner you will find yourself in a situation and say, you know what, I don't want FOMO. I have JOMO, which basically means it's the joy of missing out. So the next time you see yourself and you find yourself in a situation that everything exploding or everything is an imploding, depending, you know, how you trade, but nothing is playing out and nothing is falling into your sweet spot. Again, you don't need to be disgruntled. You don't need to go into depression. There's no one trading day there's ever going to make your career. But again, if you trade with irresponsible irrational behavior and settle, right, and settle and prostitute your money, and I've used out terminology many of times, if you find yourself prostitute money enough, eventually your money will go somewhere else. Okay. And the last thing we want to do, you know, no matter how you trade, no matter what your account size is or your experience level, it's okay to lose money. Okay. But you don't want to give away your money. And when you're trading a less than value session, you're going to run into a situation that you're pressing because the market's open. Okay. Not because you're getting value. You're pressing because the market's open and you're trying to play catch up. And the problem is you can't play catch up with CB and D level setups. And unfortunately, many traders again will burn out. And there's so many ways that new traders will go on tilt before they recognize their potential or achieve their potential. And what we have to always understand as human beings, we're going to make mistakes. Okay, we're going to lose money. We're going to be wrong. The one thing that we can control is our ability to kind of look at the market from a rational point of view, from an adult point of view, I emphasize being adult. I think it's an incredibly important part of trading, kind of understanding where the nuances, the, you know, the breakdown of the market is around you and kind of playing, you know, playing your hand at your dealt. And if you're getting a good hand, absolutely, like this morning, we had crazy value. Okay. Incredible value in beta. We'll talk about the pivots in a second. And yes, they, we did not get that value because I was 100% sell bias. Nothing confirmed to the downside. And we had to put ourselves in a situation to either, you know, play the less advantageous hand will kind of sit it out. I play the less advantageous hand caught some scouts yesterday. But again, it bought me some time for a better value day. So if you look at the tape today, again, nothing is going to really stick out that that was down 80 points. The nasa composite was up 20. Nothing is really going to stand out, you know, that you could turn around and say, well, this is a definitive stand going to tomorrow's session. I think again, the longer we build above this rising wedge, the longer, the stronger the action is. Now, again, can there be a rotation tomorrow? Again, technology has had really, really big runs, especially in the last three days off the lows. You can see it cues went from 264 all the way to 274. You get a 10 point move in the cues in three trading sessions. So again, can they be tired tomorrow? As you can see this little mini double top. So can they be tired tomorrow? Can you get a gap in crap and a lot of names? You absolutely can. I want to keep that in the back of my mind. I want to look at the stocks that, you know, didn't quite rally today or just look like they were exhausted today. And I kind of want to watch them tomorrow for maybe opening range lows to see if there's any time to cash. Well, again, nothing to the point of, you know, having the stocks go to hell in a handbasket. We're just trying to kind of identify towards the end of the week, try to get some value towards the end of the week. And, you know, when I did my watch list today, there isn't that, you know, 500 star play for tomorrow. Like when I did my watch list for tonight, we had in the videos, we had the apples, we had the Amazons, you know, so all these plays tonight, it's kind of different. Okay, so tomorrow we're going to have to be a little bit more creative. We're going to have to kind of look at names that maybe traditionally we don't trade to the downside. I will be looking for weakness and maybe opening range plays just for some cash flow. But the most important part is again, always look at trading as like running a business. Okay, you know, your restaurant, for example, perfect example, your restaurant usually will have its premium days Thursday, Friday and Saturday. You're not going to get the same amount of volume, the same amount of patrons coming in Monday or Tuesday. So you have to kind of curb your enthusiasm, you have to kind of curb your expectations of what happens tomorrow. So today was a very, very aggressive premium day. Maybe tomorrow we'll get some non-conventional plays, some non-beta names, especially to the long side. But again, we have to kind of play what the market gives us. And again, we had 24 hours of completely opposite of trading sessions. Yesterday was not what I wanted because again, my thesis did not play out. Today I got exactly what I wanted and the thesis played out. So again, learn to drive in different speeds. I've said this example numerous times. Again, you could be driving a $2.5 million Bugatti in the middle of Times Square. But I promise you during rush hour when COVID is not here, I promise you I don't care how great your performance vehicle is. You're not going to go anywhere. So learn how to stop, learn how to get aggressive, learn how to get more passive, learn how to get more defensive, learn how to give a longer lease, a shorter lease. These are all components and thousands of other moving parts as you start developing as a trader and you're getting more and more years into this game. And again, will FOMO go away? Absolutely not. Again, I find myself once a month, twice a month putting on a trade and like saying, what the hell was I thinking? Like what was going through my head when I chased this extended move, when I didn't wait for the second entry, when I didn't enter the trade because I had more value at a lower tier, so I chased it up. So all these things will continuously happen to you. But we can control it. We'll never go away, but we can control it. So again, when you get a trading day that's just not falling into your sweet spot, guys, just move aside. When you have a trading day that's very, very aggressive and it's about to be in your sweet spot. That's when you put on the pedal. That's when you get aggressive and attack with extreme prejudice. So going into tomorrow, you know, I'm 50-50. It's going to sound weird when I'm about to say this, but I'm 50-50. Bye-bye is tomorrow. Just because again, we're above this range here. A little double tops, maybe on beta, maybe some sell side buys to beta names. You know, I kind of dealt a neutral going into tomorrow. You know, the Q's, big, big run, need a little bit of rest. I could definitely see a back test. Nothing aggressive, but I could definitely see a back test. So I will be looking for the weaker beta names and the morning stocks that really didn't rally today or participate like you had Alibaba. And you know, again, it had a chance to really break out and it didn't. You had Roku today had a really, really big chance to really seize control of this area. And it didn't. So you can see these two channels here. I'll be watching that as well. Boeing, right? Boeing, again, didn't really rally today. You know, didn't rally is looking like crap again, right? Looking like crap again. So again, I'm going to watch that as well. So again, I don't want to reinvent the wheel, especially the last trading day of the week. Again, I'm going to take it nice and calm. There's no stress. There's no rush. There's no points, right? You don't get points of how many positions you put on. It's not, you know, it's not a matter of how many trades you put on. It's how many trades you put on properly. So let's talk about the pivots for today. You know, good stuff. I mean, really, really good stuff right at the opening. Again, if you notice everything we had today was beta, okay? Literally beta. There was nothing. There was nothing. Excuse me. There was one other position SFIX that I scouted a little bit of it. But again, it was all pivots to the upside, okay? For the exception of one too low that obviously never came close to the triggering. I really, really liked the action. I really liked the setups. I thought the aggression levels were pretty good. I thought the measure potential, a lot of these trades were very, very good. And it turned out to be a pretty solid day. So let's talk about this. 457, 75, 458. This was definitely my biggest move of the day. Apple, you know, just exploded. Just went absolutely nuts. You know, so here was the pivot right here, right? So here was the pivot right over here. It took out this whole channel here and just absolutely exploded. Big, big move on Apple. Alibaba, again, this is where I was kind of disappointed on. I really liked this 257 level and it never, it just, it just never got there, right? I really liked this setup here. It was looking so good pre-market, right? This is kind of what I was looking at pre-market. If it would have just confirmed this 257 level, I think it would have gone. But again, if my grandmother had my, you know, she'd be my grandfather. So if, if, if doesn't kind of get it done. But nevertheless, so I kind of like it to the downside. We'll see. We'll see what happens there tomorrow. I caught Amazon pretty well. 3185 needs to build. We started seeing some pretty good. We started seeing some pretty good call buying coming in. They were coming in with the 3,200 calls, the 3,300 calls, very, very aggressive. So here is the 3185 right here. 3185 went right to supply, put in the high and move. It went to as high as the 3217. Really, you know, pretty good move. Man, I was pretty happy about that as well. The video just exploded. 46250, 463 needs to build. Here was in the video, right? So here was again, this whole channel here. 46250, 463 just exploded. Absolutely exploded. Went to almost 469. Very, very big move. Netflix, not a big move, but you know, it did okay. I think it went during lunchtime. I wasn't around for the Netflix pivot. 48250, 483 needs to build. And here was Netflix, not a big move at all. So here's the 48250, 483 went to like, you know, right up like a dollar in change. Nothing big there before kind of rolled over. Too low, never got down to the 240. Shop, oh, shop put up a nice little move here. 1009, 1010 needs to build. Here was shop, right? So here was shop right here. 1009, 1010 went right to supply of 1025. So that was fine as well. Peloton never got down to the 61 area. And again, it just, it was a huge opening. Again, if you look, you know, if you look at the amount of pivots versus the value pivots, right? You didn't have one of those days with 25 pivots. I'm sure I could have found 25 pivots, but again, it's the beta names. There's only like 10 of them, okay? So it's not really a hard crowd to find. It's the same names over and over again. You can see here, I put literally 12345678, well, not Peloton's not eight, but literally I put seven out of the 1012 pivots for beta. So a really good solid session. Very pleased, especially yesterday's, especially yesterday's kind of lack of value. So sometimes when you, you know, you're disciplined enough, we talked about the personal growth year and year after year, kind of not trade when you don't need to. But the moral of the story is today we got value. We don't know what's going to happen tomorrow. Maybe it will be a value day. Maybe we'll be surprised. But the most important part is no expectations, right? No emotions equals no disappointments. Guys, have a great night. Everybody love you all and God's help. I'll see you tomorrow. 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? 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