 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 evening everybody. Welcome to another edition of the AccessToTrader.com nightly wrap up show if everybody is doing well. So another crazy, just lunatic day in the markets, dead cat bounce, again that's what it is, you can call it what you want, but that's what it is, dead cat bounce from yesterday's historic one day move. We were up as much as like 1300 points and then Bernie Sanders came out and said, well like 4 votes away from blah blah blah blah blah blah. Market sells off 700 points into the close. That's not the point, right? That's not the point what I want to discuss today. People always ask me for the last month or so, so what's the difference, right? What's the difference between the major difference of 2008 crisis to kind of where we are today? Here's the deal, okay? In 2008, well first of all 2007, okay? 2007 I literally built my house, my first house at the top, literally at the top of the real estate bubble, okay? That's number one. Two, nobody ever prepared us, okay? There was no other market that was ever going to prepare us for a potential end of the world Armageddon type of scenario during the mortgage mess, okay? The only difference between that mess and what we're looking at now, there was always a release, okay? Absolutely release. So after working about how crappy the day was and all these bankruptcies and the brokers and Lehman Brothers and Bear Stearns, you had an ability to go outside, you had ability to go to a bar, to go to a restaurant, okay? You had the ability to go to the gym, you had the ability to do whatever you wanted because your life, your physical life was not in jeopardy, okay? Fast forward to where we are right now, okay? I've been now, it's almost three weeks. It's gonna be three weeks, I think tomorrow, right? Tomorrow or Friday, it's gonna be three weeks for me. Again, remember, I self-quarantined myself quicker than anybody and everybody in my family, okay? So I've been pretty much on my property for the last three weeks, haven't gotten anywhere. I have food delivery all over the place. I'm trying to preoccupy my time, okay? My normal vice prior to a month ago was, you know, go to Starbucks after work, you know, chill outside, get a nice iced coffee, you know? Do what you gotta do, right? Do what you gotta do. I know a lot of you guys go to the gym, you love the feel of the burn. And again, absolutely, I still do my cardio. I have an elliptic pre-core machine, I have a Peloton bike. I have some bands. I can get my work out in the house, okay? But at least I had, even a month ago, some sort of outlet, okay? Some sort of release outlet. That's the biggest difference, you know? We're running into the biggest problem that I see right now for traders. And that's the idea that we can be robots, okay? And go in day in, day out, and try to navigate the hardest business on the planet. There's not even a close second, okay? We're expected to navigate this market with pristine, with robotic movements, with no emotion. And at the same time, we cannot go out, well, of course we go outside. But we can't go to any crowded places. We can't go to the movies. We can't go to a ballgame. We can't go to the parks. We can't do anything. And we're expected to do this over and over and over again. And if anybody's ever, you know, watching this, especially this broadcast over the last several years, I always made one point very clear. And I said, even in the most aggressive, I'm talking about aggressive bull markets that we've seen the last two, two and a half years, I've always made this point, okay? If you are not mentally sound, okay? If you are not completely A plus focused, if you've gotten into a fight with your spouse, okay? With, you know, you're having money problems. You got fired from your job. Your money is tight. Whatever the case may be, you wake up in a bad mood. You went drinking for the night before. I've always said in the most amazing, theoretically bullish, stampede linear bull markets of all time. I always say, do not trade the next day. You're going to be trading emotionally. You're not going to be focused on the setup. You're going to be focused on everything else subconsciously that's going on your life. And you're going to be playing catch up. You're going to revenge trade. And ultimately you're going to make very, very egregious mental mistakes that's going to push you on tilt. That's just the reality, okay? Fast forward to where we are right now, okay? Now we are locked down, or at least we should be locked down, right? Again, whole different conversation, right? Life versus the economy. That's a whole different conversation that I don't even want to touch, okay? That's a whole conversation anybody else can have, okay? But now we are at the point of everything that we're going through right now, we are expected, okay? We are expected as traders and the only realistically, the only profession left that could go on that you are self-quarantined, self-isolated, whatever the case may be, it's you versus the computer. You versus the other person on the other side of the trade. That doesn't change it. So we are in the hardest business in the world already been self-isolated for a very, very long time. I've been trading for 12 years at home, okay? And now we are expected to not leave our homes, keep everything bottled in emotionally, right? Keep everything bottled in inside. And oh, by the way, do it perfectly again the next day, right? Think about that for a second, okay? And I know a lot of you guys unfortunately are not full-time traders. You know, unfortunately you are part of the statistics of businesses being closed. People are sitting at home. So now if you are a part-time trader, and again, you still have your training wheels on. You're trading for two years. You're trading for three years, for four years, for one year. You still have your training wheels on. You are pretty much expected now to go from a novice trader to a professional trader overnight, right? Overnight, because that is literally the only credible income that you could possibly have on your plate until this whole mess gets cleaned up. And again, nobody knows what this is going to be cleaned up. Again, personally, I think, again, everything needs to get locked down, blah, blah, blah, blah. If you don't believe in that, if you believe that people need to work, I get that as well. Again, I'm speaking from the point of having the luxury from work, from home. So again, maybe it's a selfish thing to say, I get it. So I'm not, I'm never going to tell anybody, you know what, you can't go to work. It's a stupid thing to do. You can't earn your living. I'm not going to be that guy, okay? I'm just not. I'm not going to be that guy because I understand everybody's situation is completely different. Okay, but until we get this thing kind of settled away and we know exactly what we have in front of us, we think we do, right? We think we do with this corona thing. Well, we're going to isolate ourselves for three weeks, two months, whatever the case may be, when we come outside, everybody's going to be cured. We don't know that, okay? We don't know that. We're hoping, right? Fingers crossed, but we don't know that. So we are sitting here day after day after day, clogging in all these emotions, clogging in all these different, you know, all these reliefs, you know, that we desperately need an outlet for, okay? And we are expected to be 100% perfect. And I'm telling you guys, we're not robots, okay? The reason why this market is going to be eventually, okay? Take the trading aspect out of it. We all know the expanded ranges. We all know there's good opportunities. But slowly, but surely, I don't care how great of a trader you think you are. Or how crappy a trader you think you are, or somewhere in between, eventually you're going to feel the walls coming in. It's inevitable. Yesterday was a very, very aggressive trading day. The reason why you guys didn't see a video yesterday, I literally mentally was shot, okay? I couldn't speak after the close. And yesterday was one of the more aggressive sessions. I can remember if you go through our Twitter feed, you'll see just one after another after another. I couldn't formulate a sentence yesterday. And a lot of times people, they always try to put, you know, the idea of success and happiness in the same boat. It doesn't work that way. When you are forced to be in a situation that there is no game plan, there is no playbook, okay? Unless you trade it, okay? And I'm being completely real here. Unless you trade it in the 1300s with the smallpox breakout, right? The smallpox breakout then wiped out nearly 20%, I think of the population, I think in Greece at that time, okay? Don't tell me what's going to happen next, right? Unless you trade in the 1300s, don't tell me what you think is going to happen next. We don't know. This is all new to us. We're all trying to get through this at the same time, in real time, in real life, without having a nervous breakdown, right? And blowing ourselves up in the process. So for anybody to have the audacity, to have the arrogance to think, well, this is what's going to happen next. I'm right, you're wrong. Listen to me. Nobody knows nothing, okay? That's a little wild, okay? That's a little wild. So save the whole, I know what's going to happen next, okay? We're taking it one day at a time, man. Literally, one day at a time, one trade at a time, one interval at a time. Our only hope right now, and again, taking how good and aggressive the action's been, our only hope right now is number one, we're still mentally stable going to the next trading day, we're not putting on trades because the market is open, we're not trading because we're burnt out, we're not trading because our rent is due, our mortgage is due, our car payment is due, we're trading again because there is value. And again, I said this in the live webinar, we had a whole conversation about this, about the new trader, right? What we've had prior to this is gone, okay? It's gone. What I've learned for the first 20 and a half years is gone. This is a new market. Now I have to figure out how to not only make money, but I have to figure out how to keep my sanity, right? Think about that. There's only X amount of walks you can take, there's only X amount of times you can go from your house to your driveway, to your backyard, to your front yard, okay? And again, somebody's going to turn around and say, well, nobody's forcing you to stay home, okay? Well, I want to live. That's kind of the deal while I'm staying home. And again, maybe that's a little crazy to somebody, maybe it's not, but it's my prerogative. I'm making a choice and I'm making, you know, I'm making a determination of protecting my family. Again, we cannot control what's out there, right? We can't control. This virus is spreading like a wildfire. We got our president saying, yeah, it's all good. By Easter, go to church. That's all you, okay? I'm good. I'm good at home. No matter how stir crazy, I think I'm getting with the walls feeling they're coming in. I'm going to always protect my family first. I'm always the guy who is going to believe in safety and sorry. So it's very, very important to understand. We can't control what's out there, okay? The only thing we can control is protecting our families, having control over our trading accounts, and that is it, okay? And there is no guarantees for tomorrow that anybody's going to wake up in the morning every single day is a blessing. But in the meantime, while we're here together, we have to try to figure out the happiest way, okay? The happiest way how to navigate these markets, keep our sanity, and make sure that we are good. Again, rinse and repeat the next day. So if anybody has some great ideas, I would love for you to comment on this video below. Let me know how you're coping mentally with this, right? Again, forget about the ideas of going here and going there. Let me know what you're doing, man. I need some ideas. I'm a human being just like everybody else, and I think we need to really help each other. Again, we're a very unique tribe, right? We're a very unique tribe of traders. I've said this numerous times. Nobody is ever going to know what we're going through, except for us. And the most ironic part about this, somebody, I think it was Dan Pearson who said this in the webinar, if you would have thought the only business who legitimately survive in a situation such as corona that everybody has to isolate yourselves, you would never think trading is one of them. But trading, again, like I said, you're either online gambling or you are trading. Right now, again, it's the only viable avenues, at least I'm not thinking of anything else, that you can possibly do to earn some money. So again, if you have some good tips, I'm sure that everybody will benefit from it. Please comment below. We would love to hear how you're coping with this, how you're mentally staying sharp. Because again, guys, at the end of the day, if you're going in to the next trading day with a C minus mentality, you might as well not put on a trade. You're going to get destroyed. You're going to get absolutely destroyed. So for anybody who has some creative ideas to kind of how to keep it going, mentally staying sharp, we would love to hear from you. Please do so. I really would appreciate it. So really quickly in the day, again, markets all over the place. We're having this big, big run, really, really big run. We're waiting for the stimulus package. The markets put up a 2600 point move. The Dow has put up a 2600 point move in the last 24 hours. That's all good and all, but keep this in mind. We're still down like 10,000, just from like three weeks ago. So it's all good. Again, everybody's waiting for the stimulus package or whatever additional stimulus package. We don't know what it's going to be. Whenever it comes out, we'll come out. They might, I think they might do the vote either tonight or tomorrow, I think. Again, there's so much information throughout the day. Who could even think of this? But the most important thing is, and again, how I'm trying to navigate every single day is literally coming in flat. There's literally coming in flat, waiting for these channels to set up and just do my best to capture alpha on these channels. Again, I'm not trying to figure out whether next week or next month or even tomorrow. I'm trying to win my interval. And if you look at today's session, very, very aggressive. Incredibly aggressive session. Tesla is still an absolute monster. The volatility is still all over the place. The liquidity for the most part is not great. Again, it's not great. I don't remember the last time I was able to get filled on full-size or I wanted to get filled on full-size because the way pivots work, I'm not sitting there and accumulating a position. It's a very, very specific number that once it confirms, I'm trying to get as much as I can off that pivot. So it's not like I have the luxury to sit there for two hours accumulating position and pray to God it works. It doesn't work that way. Pivots are, at least the way I try, pivots are very, very specific. So the liquidity has not been great. The spread has not been great. But the pivots have been. The pivots have been really good. And this type of environment that everything is going on, the landscape is completely new to us, we really have to adapt to what's happening now. Not what happened to me 20 and a half years ago, almost 21 years ago. Not what happened to me three weeks ago. What's happening now? And the one thing that I will continue to say, we've been driving this point home now in the live webinar, that every pivot, guys, especially for you guys who are on the private Twitter feed that they just don't get the commentary. Every pivot that you enter on a second entry, you have to take cash flow. I don't care if you take half off or third off. Whatever that is, you have to take cash flow because again, a lot of the trends because this market is so super sensitive right now in news and headlines, they will pull these things in seconds, man. I've seen, I saw today, in the video go up six, down three, and up eight in a matter of four or five minutes. It's all over the place. So the structure has to be wait for the setup, right? Wait for the confirmation, take the second entry, take cash flow, use break even as you stop. That has to be the formula. You can't afford to sit there and say, well, let me see what the stock's going to do an hour from now. You're going to be down 25 points. I give you my word. Where if you're short, you're going to be squeezed up $10. So you can't take that luxury. This isn't the market from a month ago. That's a linear bull market and people are quote unquote buying the dip. It's all about adapting to this new environment, being mentally sound and trying to survive to the next day. That's all we're trying to do it. One channel at a time, one pivot at a time. So if you look today, Tesla was a monster. 241 needs to build. I bought this thing on a second entry. I think the second entry was 542. Tesla's Tesla. I mean, Tesla is Tesla. Again, you know, obviously you can't do the size you were doing a month ago, right? But Tesla's Tesla. So here's the 241, right? So here's the 241 and explodes. That first candle, that first candle when it's highest to 253, 254 big move in Tesla, big call buyers coming in. They bought the 600s, weeklies, but again, there's nothing guaranteed. I thought this thing was gonna run up all the way to 65. It went up to 54. It came in. But again, Tesla's Tesla. Really good, really good vehicle here. Nike, I wasn't watching. I put the pivot in it. It's just not really my thing. Nike 8150, 8175 needs to build. For all you guys that did take it, great job. I saw it was kind of a $2 move on Nike. Here's the $2 move on Nike. So here's the, here's the 80150, right? 8150 area and da, da, da, da, da, da. Right? Went to like 8350. So nice move on Nike. Just do it. Horrible. Anyway, so yeah, that was that on that. Netflix, Netflix never got up to 365. It was actually short. They really collapsed. Space, you don't have a nice move here off the 18 pivot. Again, you don't need, you know, beta to trade pivots. So here's the 18, right? So here's the 18. Excuse me. It was right here. Sorry. Here was the 18 traded right to supply of 1840s. So again, not a huge move, but again, cash flow is cash flow. Here's the trade that didn't work for me. Okay. Here's the trade that didn't work for me. So I missed the 144. I missed the 146. So I bought the opening range high on the 60 minute channel at 48. And here's where I mean, and this is what I mean about, you have to be mentally sad. Like yesterday I was so exhausted and I kind of brought in in today's session, at least in the beginning, it worked out fine for me at the end. But more of the story is I was tired and it was a reload seller at 148. That's where I got long. Okay. I missed the 44, I missed the 46. So I got long at 48. I thought I was going to go to like 51, 52, 54, excuse me. And there was a reload seller there and I just sat there like a schmuck, complete schmuck. And if you ever watched any of my videos, I've always said when you, one thing you can't, there's nothing you could do. You can't defend against a reload seller. Nothing you could do about it. And there was a big reload seller there and I just overstayed my walk and I wound up losing $2.40 on the trade, which kind of sucked. Okay. Which kind of sucked, but things got a lot better. Tesla, Tesla we caught was really, really good. I think the highest prints on two entries, I got about eight bucks out of it. So I was pretty happy about that. Roku exploded 98. It had been rejected 98 several times. Needs to build. Roku went to 100. Good job for all you guys who caught Roku. So here is the 98, right? Here's the 98 build. Got rejected several times. Went right to 100. Some nice pop on Roku. Apple absolutely exploded. I mean, absolutely exploded. 251.90, 252. Needs to build. Here was Apple. Right. So here's the 251, right? 251. 251.75, 252. Exploded. Went to 258. That was a huge-ass candle. Big candle right into supply. Again, good job for all you guys who caught that. Facebook, nice pop. 16080, 161. Needs to build. Here was Facebook. Right. Here's Facebook right here. 161. Where was it? Where was it? Where was it? I was right here. Sorry about that. So here's the pop right here. Here's the pop right here. Stock ran up about $1.70. Nice pop on Facebook. Amazon. Man, what the hell is wrong with Amazon? 43 needs to build. Not a big move at all. Not a big move at all. There's just something wrong with the stock, even before it collapses. So here was the 43, and it went up to like 50, but it went up there so fast. You didn't have a chance to trade it properly. It went up about $6, $7. It sounds great on paper, but it failed right away. I mean, it failed right away and just got absolutely destroyed after. But if you did catch the trade, and you saw the pop on Amazon, I caught Roku nice, right? I caught Roku nice. So you have this, and again, this is the whole point of pivots. There is no bias. We don't care which way they go. So the 98 went to $100, and I caught this short beautifully. $92.90 if it builds below, it can flush. And my lowest cover was $91. Okay, $91. So here was Roku. So you saw the 98 pivot was good. And I shorted it right here. I shorted it right here. It just collapsed. Absolutely collapsed. It actually went down to like a little under $89. My lowest cover was $91. I was fine with it. You know, almost $2. And it was like so fast. It was like a matter of like a minute or so. So really, really good move on Roku. Again, monster move on Roku. Again, just crazy action. Again, crazy action continue. And the video is just a beast. And apps, I mean, just an absolute monster. $254 needs to build. I mean, this Nvidia is just a beast, right? So here's the $254. It went up to $261.50. Monster, monster move on the video. But again, I kept on, you know, I kept on saying, you literally need to take your money on every trade, man. If you don't, again, you can't go to the bathroom and come back. You can be down $3, $4 in the trade. That's how fast everything is moving here. And I said, you literally have to take money on every trade. They're going to take it right back. I mean, really, really take it back. Yeah. And this is again, all part of the conversation. Jean France said, you know, the tape is incredible. It is. It is incredible. It's an incredible trading environment. But like I said, the key is to be mentally sharp every single day. That's the name of the game. So again, Tesla, Tesla, this is the $42 we took. I traded up to $54. Nice move there. Roku never confirmed this $97.50 on the second entry. And that was it. So you're getting good value. I mean, you really are getting good value. But again, guys, you know, don't mistake, you know, don't mistake making money or having a good day with being mentally sharp. Again, I try to, I'm telling you, and I'm giving everybody pretty good advice, especially in the live webinar. You have to make some, you have to make some changes in your day to day routine. Since there's only six candles of the day, I'm going to try to just kind of get up more, like once an hour, just to kind of walk around. Hell, do some push-ups. Do something, man. Do something to kind of entertain your mind. Maybe make a phone call. Do something, man. You got to do something to kind of stay mentally sharp. Because again, this is a new market with unfortunately a crazy new catalyst. We have to adapt to this crazy new job of ours. Because again, if we don't, we're not going to only lose money. We're going to burn out very, very quickly. And there's no coming back from losing that mental equity. Guys, I love you. God bless. I'll see you all tomorrow. Congratulations for putting in the time to take control of your trading. You are 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.