 Hey guys, it's Friday July 24th. You hear me say it once you hear me say it a thousand times your job as a trader is Risk management that is your job all the time every time you enter a trade the first thing you should have in mind is where is your risk? And how are you gonna protect yourself and protect your capital? So stick with me? This is gonna be fast and furious I apologize for not getting the video out to you sooner. It's been a crazy two weeks for me last week I got wrapped up in work and blah blah blah and yesterday I got called in and blah blah blah you get it Right. So anyway enough with that. Let's go ahead and get into this recap and show you some of the trades I took today and maybe they'll give you some ideas as the things that you can use in your trading All right, so keep it simple stick with me fast and furious. Here we go Okay, guys, so here we go. Let's dive into this thing. So Yesterday I posted this chart on this ticker MIS T in the room It was a long trade I took because the only trade I got off before I got yanked out I had to go to the office yesterday but I posted this out there and I'm bringing this up because you know, we talk about process We talk about looking for patterns in the market. We look we talk about looking for things that are repeatable Keeping your trading simple and looking for the repeatable trades that you can take that are a high probability that you can get into time and time again, right? So This is a trade I took yesterday And you know the picture here kind of explains it all already, right? So we had a nice move up. We had this nice little resistance area here that got turned into support on its way back down That's where I was looking to get the trade on As it was coming down. I just didn't like it, right? I didn't like the way it was acting here But it came down respected the support level moves back up above he walked we come down You can see the level holding here, right? So you can see the price action sellers were exhausting They just weren't able to get it down in here. I got my trade out there It got triggered it hit me in my stop was back below this support line here initially and then boom We take off and I love to take profit at the congestion area above I'm either taking full profit or I'm taking partial profit and even a run, right? So because of the way that some of these things are running We don't know if it's going to keep on going you never know, right? You never know where the markets going to end up at the end of the day So the best you can do is plan your risk appropriately Put your stop out there put your trade out there and then trade your plan and This just worked out exactly the plan just so happy to turn them to a nice profitable trade And it worked out for me, right? So it was a great trade. They won off exactly the way I expected it to I didn't get any unexpected funny business going in there. I and so it was a great trade now I bring this up because I took a trade today that is very similar in structure to this So keep a picture of this in your mind, and I'm going to flip over to the other chart here Ntsi Ntsi is a ticker that we I traded this morning. I got a pre-market trade off right out of the gate And again, it's just a very very similar structure to what we just saw, right? Very similar structure move up now We didn't have we didn't have a support area that got created is the one thing that we did not really have to lead on To come back into right so I didn't have that now You take that aside. You see the move up. We come back down We clearly there's some support down here. There's some buying support in this area So the market rejects comes back off and then that's where I get my trade on is in that same area Draw a lot right we're gonna draw a lot because we draw our lines and what do we get when we draw a lot? We get areas to take trades from Okay, so give me a sec here you zoom out you draw this line straight for you Right about there right so That's where this thing was rejecting from I don't like wicks a lot. Honestly. I usually look for body I look for for meat Candles is where I like to pay most of my attention to so the trade gets on right, I had a stop back here behind VWAP and It barely moved into profit for me, right? I mean it literally barely moved and I was looking to take profit up necessarily for your life So the market moves a couple pennies in my direction Okay, give it a chance and then what does it do it just starts to fall it falls back through VWAP and I respect my stop This is what you do you plan your trade you respect your stop You know one job is a risk manager. You've got a manager risk to protect your capital at all costs So I start the day out red right but I don't care You know, I don't care. I don't care because it worked out according to plan if it did You know, obviously not what I wanted it to do right We always want to have a profitable trade the expectation is that we're gonna have a profitable trade But we have a protection plan in place the event that it doesn't work out and so big deal I get stopped out and I walk on and I move on and I look for my next trade set up And I wait for my lines to come into play So NTZ that was the only trade I took in this guy and I left it alone And again, it's similar structure to what we saw with the MIS T trade from yesterday You know it comes up comes back down creates a support level and sometimes we'll get that bounce off and push back up into the highs And then it'll either just keep on pressing like we had some runners that ran earlier this week That was just absolutely nuts And then other times it'll just die off kind of like NTZ did today Okay, so it goes up does this thing and it's just rolls off right and and for me this that was enough for me for this one today It just didn't have a lot of Structure that that I like to see in my trades right so And that's okay. There's nothing wrong with that. I didn't I didn't like the way this guy was was moving after the open I didn't like the lines Was it tradable absolutely 100% there are tradable opportunities in here As a matter of fact one of my tags Kevin my man took a trade in here today and and got off a nice little trade so It's okay. I it just didn't work out for me. Maybe it worked out for you now Let me move on to another ticker here ENT ENT was another ticker that I traded this morning and found some really nice opportunities so ENT pre-market Same thing right MIST from yesterday, I'll put up again business. It's just an example. It runs up creates a level Pulls back to that level bounces off that level right repeatable patterns This is what we're looking for and that's all looking for in here now. Unfortunately, I Took a I took a FOMO entry initially right so I saw the stall happening up in here Thinking that it's not going to make it back down into this Prior prior resistance level turning into support. So again, I'm going to draw a line and I draw these lines So that you guys can see how I drop them in here They're already on my charts when I'm drop when I'm trading but I Clear some stuff out so that I can put these markers on here So you guys can kind of see be in the mind or you know see the mindset as things are unfolding kind of a thing So we get to pop up through resistance. It comes back I put a FOMO trade on small size super small size, right? My stop is back here to look behind you off. So Super safe. I'm not concerned. I'm not worried. It rolls back into where oh, yeah my line, right? And then I get on a little extra size And I take the bounce so I follow the bounce up and I see the rejection and it pushes back up So I take prop where at the congestion area, right? So that's where I'm taking my problem. I Get out of the trade and I wait and see what happens next because what do we have now? We have yet another area That gets generated here. Yeah, I did it again. Here we go. I'm not gonna Correct, okay, this happened all the time because I got back fingers Let me just scroll over blah blah blah blah Let me take my line. It's strong way over the sky. I'm ready if I don't we're supposed to be okay, so We have a resistance level that gets generated here, right? What happens? We crack that resistance nice momentum back up into the current pre-market highs and what do we do? We see it pushing back down into That level so that's where I get my trade on boom I get on I get out where in congestion up here near the highs of the days because we don't know how far it's gonna Go it could chug and run for days or it could just fail and fall over and leave you hanging, right? so and One last long trade Same exact set up right and for this trade here. Where was my stop back here behind? The previous higher low I keep my trading sub right my stop areas are well-defined. I know where they're going. I have a Really keen idea of what the distance is between my level because I know where the support was or where the support is going To be where I expect it to be. I know where my stop level is going to be so I already have my range for What my risk is and then I can place my trade size according to my risk That allows me to get the trade on safely and I can manage my risk capital along the way So the last trade I hear for the long I get in boom and off we go Where I take profit at congestion because I see it's struggling right I see it's struggling to get up in there So I just take the trade off and I'm out quick scout easy trade Now we push up and then what happens we get a nice stuff look at the volume in this candle, right? Right out of the open. We get a nice push up. We break the highs New market high for the day and then we roll right back down So I take the trade short at the line, right? It just turns out that the open is that line I'm gonna draw the line on here so that we have it Because we can say we did right there we go and That line comes into play multiple times even later in the day, right? Now this is pretty close to zombie time So, you know, I walked away basically after these last couple trade sequences here So I took this trade to the short side got a little size on add a little bit to my winter And then where did I take profit nail and bail at the wall? This is technically still front side. This is a front side move because the stock is not yet broken Frontside shorts require front side covers nail and bail man Don't sit around and look for the all-day fader because you don't know that it's coming You don't know if it's coming. It may never come so short trade here We had to spike up right back down. That's a bit of a stuff move there Big volume couldn't hold those highs. We roll back up in that area take the short boom boom and I cover What happens next the market bounces off a view up pushes up cannot make a new high of day Now why is that important? It's important because look at the volume that occurred in that bar, right? the largest volume candle of the day thus far and it can't make a new high and Immediately rolls right back over and stuffs, right? This is the kind of move that we're looking for We always look for this momentum stuff move and then trade the pop back up into an area and then take the short Now that's exactly what I did However, what you can't see in this two-minute candle two-minute time frame is The retrace back up right here. It looks like I chased the move But let me zip into a one-minute chart chart here for you And zoom into that area and you can see the one-minute stuff boom What do we do we retrace back up into the line? We hit the wall boom boom trade area and I took the first profit target here now. I'm safe, right? So here's a tip for you guys, right? I'm taking this trade here. Where's my stop my stop is back here, but buy these highs. I let me draw a little trend line here and This is something that you can use. It's a piece of information that you may not have come across previously but if my stop is back here and Let's just say hypothetically I've got 200 shares on at this location if I take off 50% of my shares and We're just gonna use some quick numbers here. We're gonna call this at six I got in at six even and let's say I got out down here at 580. That's a 20 cent move if I take a 20 cent move and take 50% of my profit. I can move my stop Back here to minus 10 cents So at 610 because if six is my entry 610 is a stop if I move my stop back here And I get stopped down. I still technically took 10 cents off of 100 shares, right? or I can move my stop right down in here to break even and I'm gonna get still I get stopped out, but I protected my profit. I move my stops When I'm when I'm trading I'm very defensive. You guys hear me say it's all time. I'm a defensive trader Market moves in my direction Once it moves in my direction And I've got some some profit in the game. I'm not letting a winner turn into a loser I don't it's not worth it, right? I could take the trade off and then reattack it if the things if things work out You can always get back in but if you're in and this thing starts to move against you and keeps on going It could climb and climb and climb and come back and stop you out for max stop on that one trade When really once it moves into profit now you can move your stop down even if I didn't take profit here I could still reduce my risk Behind be well at that point, right? So just some ideas of things that you guys might be able to use and in your own trade Okay, so this trade gets on boom the stuff boo get it on the pop get back out right and I took the rest off down over here and It's no coincidence that I'm taking these trades off here at prior lines, right? These are prior support areas that I expect the market to stall that and that's where I ended up taking that last piece of that trade off so You'll also notice if you go back in the main room. I posted a chart that was talking about this guy It was kind of directionless in the oh, I don't know See about 1115 time frame Is when that post went on so I'm gonna zoom out here a little bit and scroll over So we can get that area in there and if it this thing was just in a kind of a Directionless zigzag area, right? Now if I zoom out a bit more and I just move these lines To be in coordination with what we see forming in the chart. We've got a little there I'm gonna give this other line be there for that one and take this one And throw it right in here, right? So if even if eliminate this high here You can see the channel. This thing is just like it's directionless. This is where You see battle trade these channels. It's really good at it, man He's really good at just trading these channels and taking these these extreme Sides of the channel on the short side That's his thing and that's that's one of the things he's really good at. I'm not as good at it I'm practicing it I'm trying to get better at it and have something to add to my trading toolbox But for now I stick to my bread and butter trades. I stick to the things I know I stick to the repeatable patterns. I see all the time and that's what I go for So obviously just kind of me entered on and just did this thing for you know, pretty much the rest of this morning here and then You know, you gotta Wait for it to break Wait for it to get out of this range or leave it alone Don't don't be chasing these things expecting That you're just gonna get on and this thing's gonna fade all day long because what would happen, right? If you'd have gotten it up here and expected this thing to fade all day, it sat in this range almost all Morning mid-afternoon right at the reversal times now once you get this big old stuff candle down here And then it didn't really crack support right just kind of bounced around there And then boom then it tanks and takes out the support level so then you can look at this support levels being resistant to the upside And take a possible short from there and you know, there could have been an opportunity there for you So so there you go guys Fast and furious at least I think it was fast Quick recap I hope this guy this this gives you guys a little bit information some things you can add another toolbox I hope it lets you see a little bit into my mind and the things that I look for when I'm trading and how I manage things If you have questions shoot them over have to answer them other than that have a great weekend Enjoy yourselves. Enjoy the weather. Enjoy your families and we will get back to it next week. See you guys