A lot of what you say is repeated, but every single time, it seems to come at the precise moment I need to hear it. This video perfectly describes my situation the past 2 weeks. Appreciate taking the time to make these videos.
This is so true. When I first started I would hold my losers past $1000 or $2000 and more not knowing how to just cut it off. I'm much better at it now.
That chart you drew of 5 legs down...thats me over last 3 months. $4400 invested, stair stepped down to $1500. That was my rock bottom 2 weeks ago. I made the adjustments you talk about here. I've set my daily max loss to $50 (vs no max loss and I could lose $400 by bag holding). Now for 2 straight weeks I've been green (7 green days 3 red days) and I've recovered $300 so far and am now up to $1800. It'll be a long road to break even, but its doable if I keep this tight max loss.
Same here my guy I started with 640 went up to 707 then went on a losing streak all the way down to 200$ then went back up to 540$ then went on to another losing streak bringing me right back down to 200$ I’m ending the week at 260 tho so I’m on a 2 day winning streak right now
@@farahjawad696 if hes trading pre-market then he cant set stop losses. What he CAN do though, in place of the stop-loss, is decrease position sizing. That way big price-swings are not going to break straight through his daily max loss
You are spot on with the psychology inherent in bailing too early on the way up, lingering way too long on the way down. For myself, I've noticed intense anxiety on the way up, especially if the stock is rising in a hurry. I've had to do some serious deep breathing to remain emotionally present, and sit with my anxiety, rather than react to it, and bail out too soon. Getting better, and it's been hard work. On the way down, I've learned the hard way that hope is not a strategy. It's amazing how hope dulls our senses, and lessens our sense of urgency to bail out when the stock is falling. Like you said, I've changed the rules way too many times when a stock drops - transforming from a day-trader to a swing-trader because of my rationalizing the rule change. I'm no longer doing that, thank God. Learning how to do this is hard work, however. You are gifted in what you do, and how you teach/coach others. I often find myself asking if am I channeling my inner "Ross" as part of my trading strategy, lol. I've been comfortably green 7 out of the past 8 days. Thank you very much!
Dear Ross, you show up every day saying what I needed to hear prior to taking my trades for the day, I feel like hindsight is 2020 but lesson learned. Thank you!
I needed this one! Thanks! I hold way too long on losers and way too long on winners, which then turn into losers. I need to train my brain to remember that there is near-zero consequence to clicking that sell button right away!
I started with $10k paper account in webull and grew it to $65k in 3 months, then I started trading in a small account and I'm just a little over a break-even trader. Webull live trading is much different than paper trading, especially with the fills you get
This is exactly what I needed today! Traded B quality setups before we had JTAI, finished red but I'm happy I didn't spiral, and walked away. Also keeping a journal entry for each trading day helps with building muscle memory so you wont repeat your mistakes. Green days makes me confident but a red day with proper risk management gives me hope for the future :)
you taught this class in the middle of your trading session and i can’t stress enough what an awesome teacher and coach you are. one of the best investments i’ve made in my life is signing up for your course. i’m on the road to profitability one step at a time! thanks! loved the class!!
Hey ross! Im on day 2 of trading in a simulator and let me tell you there is alot of potential! I am also reading your book "how to day trade". I Love watching your recaps and listening to someone who has been doing this for years explain his thought process and strategy! You are so committed to your craft! Its a blessing to have you sharing your wisdom! Love the content!
This last week I been trading out of a simulator with everything I learned from you..... It's a 10,000 account and I've won 4 out 5 days this week. With a average of 1500 a day. I think I'm ready to start with real money ty Ross
Thank you for showing your keyboard Ross! I officially can't start one of your videos without a notebook to write things down lol. See you soon on Warrior Pro!
Struggling to become profitable this past year. Every issue you bring in your videos hits home so I know you've been through the same problems, like many others. This gives me the encouragement that with becoming more disciplined, I could correct those pitfalls and become profitable. It's all a matter of changing my habits. Thank you Ross ❤
3.5 times my daily goal today with several trades ... $CRNC, $QMCO, $NVTS, $QBTS, and $VSAT ... small Average base hits at about 3/4ths my daily goal ....Thanks Ross !!
@@jeez5890 - I use TOS platform and I start with the top 6 stocks that show up on my scanner. My strategy is essentially "dip scalp trading" paying close attention to the MACD... in fact getting down into the weeds as far as what the MACD is doing. I can't go into too much detail or my post will get removed. But MUCH of what I am doing is what Ross teaches. I have just applied a little of my own influence after trading for 2 years ( more than 1 year in the simulator)
I think you are a mind reader you post videos that speak directly to what I do wrong.... I appreciate you and your videos you made me a GREAT trader but I'm still working out the kinks....up 40k for 2 weeks thanks to you!!!
Ross - would you do an session on how you journal and use your trade log software for analysis? Eg - trade tags, notes, key metrics you find meaningful…
Ross, it would be super helpful if you did a video on proper expectations for stocks based on their price. For example, if a trader has a defined risk per trade but that may be not applicable to the stock they're trading. If I'm willing to risk 0.20 a trade but the price may not have the ability to climb that much, I'll find myself routinely with an imbalance on winners to losers. Especially when trading from a cash account where my number of times to trade and purchasing power may be limited. A $2 stock vs a $10 stock obviously don't move the same. Because the only thing we can control is our risk in the beginning of a trade, it makes it tough to hold long enough to get a consistent 1:1, 2:1 or better return.
Bro ross i had a terrible red day ..I stuck with vrpx pretty much off xcur fomo..anyway ..I just watched ur 275 k loss red day and ur ass made me cry..but thank u man..resilience. I'm on month 4 and I jumped right in so I'm coming off a 10k draw down..and the only way is to dig ur heels in..and put it behind us Bullish forever Love each other Never stop learning
That is exactly what I am doing. I am burning since I switched to pre market. I have decided to go back to what I did when I was profitable. Back to market open and implement patience and timing. My problem started to get worse when you select the top trading stock under PDT stock will go up and bears will swoop in destroying bulls. Thanks you Ross buddy
Most definitely !!! "Trading LESS can equal MORE" ... When I first started I was trading 30+ trades per day and loosing ... Now on average I'm trading less than 5 a day and winning ... quality, discipline, patience, strategy
This was me to nearly a T this morning on JTAI. Initially green but reentered as it kept pulling back then held way too long past my daily max loss by 4x. Thank you for posting this, Ross. I need to continue to work on my rules.
I went Red on JTAI and for some reason instead of hitting sale i fell into that mindset of maybe it will go up. After reviewing my notes and thinking of my day it was due to external reasons so I shouldn't have traded today at all. My mind was not focused like yesterday.
Thank you Ross for the video. I joined you live, so I was listening the class. I did not follow your recomendations. BIG MISTAKE In simulator Day 68 of trading. WORST DAY EVER after yesterdays WORST DAY EVER. I keep Holding on to losser way longer. Then overtrade to try to hit a HR but not to be. Man, I think its no trades for me on Monday. Just see I learn to wait y sell fast. Day 10 of the 2 week trial. The scanners, 10s chart and news really helps... and Ross live trading! SELL LOSERS FASTTTT MAX 0.20 CENTS BE PATIENCE WAIT FOR NEWS ON MOVING STOCKS Keep practicing
Traded only PDYN today. Only when the MACD was open and when it was above VWAP. It psyched me out a couple times around $3.00 and I cut losers too soon. But I jumped back in and managed to have a small green day. Once the stock dipped under VWAP and couldn't go back over it and the MACD closed I was done.
Today I almost fall into a big lost trying to jump on to the high volume and percent stock pre market… but the move seems different and because of the Friday effect, I decided to buy small shares to test if I can sell it for a simple $20 gain… but ended up caught by the slow drop, I kept double down more every .20… something isnt right! No exit chance for gain. So I admit lost and pull all out with -$100. Overall i was able to win $600 with other stocks in play. Thanks for your strategy and for warning not to fall into the spiral! I have 5 consecutive earning this week $2.4k thanks to you!
These videos lately have been very helpful. I started this journey really swinging. I started with 25k and got it up to 27k before I lost 9k. Now I am just taking it waaaay slower and trying to get steady base hits of 20-50 bucks. If I can do that for the next few months then I will size up and really get going. I do regret not doing that to begin with, but at least now I know.
Wow really needed this today. Total Emotional hijack after doing well this morning. Greed…no more trading afternoons after my work and being fatigued. I did many of the things you mentioned…things I’m usually very disciplined at. I held too long even telling myself to sell. Stubborn too. I need to learn to loose.
Ross, also, If I have a limited cash account fund available and I exit, I do cut my loses, but my next trade will be only tomorrow. It's another reason we hold and hope.
Ross, I'm really looking forward to doing your training program. Just watching your vidz over and over and taking notes has already smoothened out my day trading. Started looking at where my winners were and my loses. Changed my entry points, changed my approach to loses as well as wins. My daily goal has been $500, then walk away for the day. In the past I would have a good morning and then go for more but I didn't understand how the volatility/volume changes as the morning moves along and that what I was doing at the open wasn't working intra day. I've now been getting results like $800 one morning, $1,300 another etc my lowest this week was $384 and I still walked away. Letting go of FOMO was huuuuuge for me! Now the goal is do the same thing every morning, take notes and tweak my strategy. Can't wait to actually watch you trade in the morning session! Thank you my friend 🤟
If I stop sooner, it means I can reevaluate my trade bias and find a better entry in the direction I was aiming for, or sit it out and wait. I never trade against the trend, if I get a loser, means I'm either in a pull back and can get a better entry aiming for my original target OR the trend could be in for a directional change, so I get to jump off the chart early.
This is so valuable! Thank you for talking P/L scaling and moving stop loss this was exactly what I was looking for from you thank you!! Would love for you to make a video on patterns you often trade and avoid, head and shoulders, dead bounce, etc etc
Another big reason why it's hard to sell a losing position in a smaller account is because if you sell that losing trade, you're done for the day and have to sit on the sidelines. And I've noticed some of those pre-market losers that are only down a bit seem to bounce back right at opening of the bell.
I would say that is the Major downfall of most. Not being able to cut losses. I Struggle every day with that. I Try to get in a robotic state. Fails Bails. Easier to recover from a 100 dollar loss as to a 1,000 dollar loss! Simple math!
Ross is an excellent teacher but scalping is a very difficult way to trade - especially if you're a new at this. Swing trading is a lot less stressful and you can still make decent profits.
Dude, I got stuck in JTAI today the way that you described. I got in at $8, and I didn’t sell when it went to $8.30 or so. I traded it with a bias because stocks in this range at midday have done so well this week. I trade with a cash account, so I would not have those funds to trade till 24 hrs later. I also have seen some tickers lately come back in the afternoon-so I had a two-fold bias here. Big mistake and a big lesson. However, NA stock: I rode for more than a buck per share in the green. Thanks for the video.
Ross , can you make live trading ? Theoretically all of us understand your strategy but practically we want to see your enteries and exits, we don't need your earnings but we want to see your live screen while trading thats what we need . Where you exactly entering and exiting !
Dude its like your in our heads this is exactly what I did last week no wonder you are so popular on you tube lol you know the beginner trader inside and out like the palm of our hands
Nice way to finish your Friday Ross and happy weekend to everyone hit my daily goal but not happy with myself broke a few rules I know the market rewards you for breaking rules until it decides to destroy you and I need to be more disciplined so that doesn’t happen JTAI bought at $9.00on the dip and big mistake added at $8.75 and $8.50 went down to $8.00 and then broke another rule and didn’t sell I got a lucky bounce to $9.40 and sold but not good trades made money but I did everything Ross pointed out was a bad thing to do
My problem recently is bailing too quickly. I see it dip and I panic and sell at the least amount of loss. Then I see the stock shoot up 10% and maintain that level. But, with a cash account my load blown on the one trade and I'm done until tomorrow. I have to control the panic.
Main issue with having tight stops is giving up settled funds if you're PDT. Even with T+1 settlement, you're depriving yourself of opportunity for the day with every stoploss. So I wonder if it's better to get your account above $25k, just to avoid settled funds limits, and just limit yourself to daily trading the same amount you would have under your normal small account.
Thanks Ross! I have the tendency to hold onto both winners and losers too long. The most frustrating for me is when I have, what I call, a half winner that doesn’t quite hit my profit target but also isn’t showing any clear signs of reversal (like MACD or volume) and then elevators down to my stop loss. Any advice for that type of movement?
Thanks for the forecast! Just a quick off-topic question: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?
This happened to me today with Amazon! I was up in the first 30 minutes but now holding my loser into the weekend. I sold my winning NKE way too soon. Ugh
But I do have an interesting question. How much percentage of your trades are based on the squeeze of the second leg after the 1st micro pull back and how much is based on the squeeze of the second leg after the 2nd micro pull back. Vs how much of your trade is based on 1st leg before any micro pull back. Based on news only. Also how long would you keep on waiting for another possible squeeze if that stock goes sideways a while. Would you keep an eye on it or just search for possible similar synario with another potential stock.
Yes, this describes me😢. I wrecked my account a few times, including this week. Lost over 30% in about an hour, then clamed up on selling for the day. Now those two stocks are down almost 50% in less than a week. I'll probably watch this video several times!
"Come Into My Trading Room" by Alexander Elder is a great book that talks more about the trader psychology, rather than patterns and formations. It directly addresses the conundrum of taking tiny gains too early out of fear, and holding on to big losses out of hope. That's probably the main issue for 95% of traders. I know it is for me.
Hi Ross big fan of yours I had a good green week as well with a 40% gain. Xcur,Spai, crnc were my trades. But I have a question about Your trade today I looked at the interday chart and I would have not traded this. Obviously you got a gain out of it but I'm just curious as to what triggered a buy. Was it just the volume ratio and float?
Hey Ross you keep saying cut the loss and exit and soon as you see downtrend indication. Yesterday I lost 3.6k doing that as soon I will see red sign candles pattern, I will exit and guess what that stock was kept going uptrend the entire day but still cause me to lose 3.6k. I was so stupid because I was looking only to one minute chart, I should had 5 minutes even a day chart as well to look at my stock at those chart as well so I could hold it till end of the day I would made 5x profit instead of loss. I would not exit until I see a daily chart if the daily chart is okay with a stock which has news in 5x RV, chances are it will be in uptrend at least for a day. What you think please advise
Aw man I needed this one today! Losses have been getting sloppy. When to hold and when to cut it still feels as much like gambling as it does education. Great to see you keeping it strong, Congratulations Chief! As much as your discipline might prevent it, you must be a little proud of yourself, right?! 😂 You talked recently about keeping your daily goal between +/-$5k, but given your average win is now almost double that, is your strategy changing much to maximise the potential or are you trying to maintain consistence and just scale up within your strategy? Does that scaling up put you at higher risk in terms of becoming one of the 'big buyers' that smaller position traders would use/see as resistance/safety on the level 2?
Are you buying with Limit orders? For example. at Minute 33:10 in the video. You said you took your first positions at $8.34 and $8.40 Did you have buy limit orders sent before it bounced off $9.00 Or did you see it coming down from $9.00, hit $8.00 and bounced off $8.00 and you caught it with a market order hotkey on the way back up?
![BOWKYLION - วิงวอน (ex-change) [Official MV]](http://i.ytimg.com/vi/cLdnZWDaO-w/mqdefault.jpg)
You teach things like a passionate caring father, I know you are such an amazing dad. Godbless brother
A lot of what you say is repeated, but every single time, it seems to come at the precise moment I need to hear it. This video perfectly describes my situation the past 2 weeks. Appreciate taking the time to make these videos.
Right. I just lost so much unrealized gains this morning. 😅😅😅
I appreciate the repetition its so easy to forget everything the second youre live in the market haha
You and me both!
Came here to say this. Every time I know I’ve done something wrong, always seems to be a recap highlighting exactly what I’ve done 😂😂
This is so true. When I first started I would hold my losers past $1000 or $2000 and more not knowing how to just cut it off. I'm much better at it now.
That chart you drew of 5 legs down...thats me over last 3 months. $4400 invested, stair stepped down to $1500. That was my rock bottom 2 weeks ago. I made the adjustments you talk about here. I've set my daily max loss to $50 (vs no max loss and I could lose $400 by bag holding). Now for 2 straight weeks I've been green (7 green days 3 red days) and I've recovered $300 so far and am now up to $1800. It'll be a long road to break even, but its doable if I keep this tight max loss.
Same here my guy I started with 640 went up to 707 then went on a losing streak all the way down to 200$ then went back up to 540$ then went on to another losing streak bringing me right back down to 200$
I’m ending the week at 260 tho so I’m on a 2 day winning streak right now
Momentum, volume, shares, news, candle pattern etc determines how much you risk on the trade it sounds like your risking the same amount every trade.
How are you managing the tight losses ?! By setting stop loss ?
@@farahjawad696 if hes trading pre-market then he cant set stop losses. What he CAN do though, in place of the stop-loss, is decrease position sizing.
That way big price-swings are not going to break straight through his daily max loss
You are spot on with the psychology inherent in bailing too early on the way up, lingering way too long on the way down. For myself, I've noticed intense anxiety on the way up, especially if the stock is rising in a hurry. I've had to do some serious deep breathing to remain emotionally present, and sit with my anxiety, rather than react to it, and bail out too soon. Getting better, and it's been hard work. On the way down, I've learned the hard way that hope is not a strategy. It's amazing how hope dulls our senses, and lessens our sense of urgency to bail out when the stock is falling. Like you said, I've changed the rules way too many times when a stock drops - transforming from a day-trader to a swing-trader because of my rationalizing the rule change. I'm no longer doing that, thank God. Learning how to do this is hard work, however. You are gifted in what you do, and how you teach/coach others. I often find myself asking if am I channeling my inner "Ross" as part of my trading strategy, lol. I've been comfortably green 7 out of the past 8 days. Thank you very much!
Hope is not a strategy!!! Best advice. Thank you.
@@Manuel-lo4du😎😎
Prob the best trading teacher out there
❤
Hands down only person on TH-cam who post learning content everyday and shows realistic and real losses and gains
I confirme!! It's been a while I started watching Ross and he iS the king
I’ll second that!
Dear Ross, you show up every day saying what I needed to hear prior to taking my trades for the day, I feel like hindsight is 2020 but lesson learned. Thank you!
"experience is something you get right after you needed it." -one of my favorite quotes
I held small winners until they became big losers because in a small cash account I only get one chance. So frustrating.
@@hellojosef set a specific goal for yourself, then stick to it😎
Goo with a proper firm and trade by a small rule set and become better then trade live . PS could be a long journey
Put in a stop loss so it automatically sells
Same here man. Still, getting stopped out for a small loss is way better than blowing up your entire cash account in a few trades.
That experience will be what makes you a great trader in the future. You just have to get better at managing your risk.
I needed this one! Thanks! I hold way too long on losers and way too long on winners, which then turn into losers. I need to train my brain to remember that there is near-zero consequence to clicking that sell button right away!
Today the DEX in By-bit is lagging!!
I just done video to show that
When you are exchanging it's giving you like 9x>
Started a $35,000 paper trade account on webull on Tuesday - made $7000 this week - 20% return - trying to grow it to $70,000
I started with $10k paper account in webull and grew it to $65k in 3 months, then I started trading in a small account and I'm just a little over a break-even trader.
Webull live trading is much different than paper trading, especially with the fills you get
What stock screening metrics and program do you use?
@@MrNo-c5vI use the Finviz paid version.
This is exactly what I needed today! Traded B quality setups before we had JTAI, finished red but I'm happy I didn't spiral, and walked away. Also keeping a journal entry for each trading day helps with building muscle memory so you wont repeat your mistakes. Green days makes me confident but a red day with proper risk management gives me hope for the future :)
I so needed this today. Thank you Ross as always. Goals!!!!
you taught this class in the middle of your trading session and i can’t stress enough what an awesome teacher and coach you are. one of the best investments i’ve made in my life is signing up for your course. i’m on the road to profitability one step at a time! thanks! loved the class!!
Hey ross! Im on day 2 of trading in a simulator and let me tell you there is alot of potential! I am also reading your book "how to day trade". I Love watching your recaps and listening to someone who has been doing this for years explain his thought process and strategy! You are so committed to your craft! Its a blessing to have you sharing your wisdom! Love the content!
This last week I been trading out of a simulator with everything I learned from you..... It's a 10,000 account and I've won 4 out 5 days this week. With a average of 1500 a day. I think I'm ready to start with real money ty Ross
Thank you for showing your keyboard Ross! I officially can't start one of your videos without a notebook to write things down lol. See you soon on Warrior Pro!
Struggling to become profitable this past year. Every issue you bring in your videos hits home so I know you've been through the same problems, like many others.
This gives me the encouragement that with becoming more disciplined, I could correct those pitfalls and become profitable. It's all a matter of changing my habits.
Thank you Ross ❤
3.5 times my daily goal today with several trades ... $CRNC, $QMCO, $NVTS, $QBTS, and $VSAT ... small Average base hits at about 3/4ths my daily goal ....Thanks Ross !!
Hey! What is your strategy? It looks like you are trading a lot of higher float stocks. I'm curious. Thanks.
@@jeez5890 - I use TOS platform and I start with the top 6 stocks that show up on my scanner. My strategy is essentially "dip scalp trading" paying close attention to the MACD... in fact getting down into the weeds as far as what the MACD is doing. I can't go into too much detail or my post will get removed. But MUCH of what I am doing is what Ross teaches. I have just applied a little of my own influence after trading for 2 years ( more than 1 year in the simulator)
I think you are a mind reader you post videos that speak directly to what I do wrong.... I appreciate you and your videos you made me a GREAT trader but I'm still working out the kinks....up 40k for 2 weeks thanks to you!!!
Great Great video ross. We need to watch this video every day 30 min before we start trading. Thanks man
Ross - would you do an session on how you journal and use your trade log software for analysis? Eg - trade tags, notes, key metrics you find meaningful…
Ross, it would be super helpful if you did a video on proper expectations for stocks based on their price. For example, if a trader has a defined risk per trade but that may be not applicable to the stock they're trading. If I'm willing to risk 0.20 a trade but the price may not have the ability to climb that much, I'll find myself routinely with an imbalance on winners to losers. Especially when trading from a cash account where my number of times to trade and purchasing power may be limited. A $2 stock vs a $10 stock obviously don't move the same. Because the only thing we can control is our risk in the beginning of a trade, it makes it tough to hold long enough to get a consistent 1:1, 2:1 or better return.
Thanks again, Ross! One of your best videos ever! Perfect timing!
Excellent from multiple perspectives. Very helpful in covering every aspect of trading.
Bro ross i had a terrible red day ..I stuck with vrpx pretty much off xcur fomo..anyway ..I just watched ur 275 k loss red day and ur ass made me cry..but thank u man..resilience. I'm on month 4 and I jumped right in so I'm coming off a 10k draw down..and the only way is to dig ur heels in..and put it behind us
Bullish forever
Love each other
Never stop learning
This is me today, so amateur as a newbie. Thanks for all the teaching, I learnt a lot from your youtube channel
That is exactly what I am doing. I am burning since I switched to pre market. I have decided to go back to what I did when I was profitable. Back to market open and implement patience and timing. My problem started to get worse when you select the top trading stock under PDT stock will go up and bears will swoop in destroying bulls. Thanks you Ross buddy
Most definitely !!! "Trading LESS can equal MORE" ... When I first started I was trading 30+ trades per day and loosing ... Now on average I'm trading less than 5 a day and winning ... quality, discipline, patience, strategy
Hey Ross, thank you for everything you are teaching us,I don't know is there anything else that is left to show us?
This was me to nearly a T this morning on JTAI. Initially green but reentered as it kept pulling back then held way too long past my daily max loss by 4x. Thank you for posting this, Ross. I need to continue to work on my rules.
This video is so helpful. Definitely going to rewatch and taking notes. Thank you!
I'm surprised you didn't trade QMCO or XCUR. I got good returns on that. They both met all the criteria you talk about.
I went Red on JTAI and for some reason instead of hitting sale i fell into that mindset of maybe it will go up. After reviewing my notes and thinking of my day it was due to external reasons so I shouldn't have traded today at all. My mind was not focused like yesterday.
Made 75 today, after a loss yesterday, making another recovery, this time it’ll be better than the last!
Ross the man Cameron. Love when you get this transparent!
Thank you Ross for the video. I joined you live, so I was listening the class. I did not follow your recomendations. BIG MISTAKE
In simulator Day 68 of trading.
WORST DAY EVER after yesterdays WORST DAY EVER.
I keep Holding on to losser way longer. Then overtrade to try to hit a HR but not to be.
Man, I think its no trades for me on Monday. Just see I learn to wait y sell fast.
Day 10 of the 2 week trial. The scanners, 10s chart and news really helps... and Ross live trading!
SELL LOSERS FASTTTT MAX 0.20 CENTS
BE PATIENCE
WAIT FOR NEWS ON MOVING STOCKS
Keep practicing
Hey Ross do a Q&A to see how many traders are left from the 2020 craze! With your students and such
Traded only PDYN today. Only when the MACD was open and when it was above VWAP. It psyched me out a couple times around $3.00 and I cut losers too soon. But I jumped back in and managed to have a small green day. Once the stock dipped under VWAP and couldn't go back over it and the MACD closed I was done.
Is VWAP the one curve with the three numbers (x, x, x)?
Today I almost fall into a big lost trying to jump on to the high volume and percent stock pre market… but the move seems different and because of the Friday effect, I decided to buy small shares to test if I can sell it for a simple $20 gain… but ended up caught by the slow drop, I kept double down more every .20… something isnt right! No exit chance for gain. So I admit lost and pull all out with -$100. Overall i was able to win $600 with other stocks in play. Thanks for your strategy and for warning not to fall into the spiral! I have 5 consecutive earning this week $2.4k thanks to you!
These videos lately have been very helpful. I started this journey really swinging. I started with 25k and got it up to 27k before I lost 9k. Now I am just taking it waaaay slower and trying to get steady base hits of 20-50 bucks. If I can do that for the next few months then I will size up and really get going. I do regret not doing that to begin with, but at least now I know.
Wow really needed this today. Total Emotional hijack after doing well this morning. Greed…no more trading afternoons after my work and being fatigued. I did many of the things you mentioned…things I’m usually very disciplined at. I held too long even telling myself to sell. Stubborn too. I need to learn to loose.
*lose
Exactly! You are absolutely right. Don't be stingy; take your daily profit. But we hope it goes up and watching it goes down.
Ross, also, If I have a limited cash account fund available and I exit, I do cut my loses, but my next trade will be only tomorrow. It's another reason we hold and hope.
Ross, I'm really looking forward to doing your training program. Just watching your vidz over and over and taking notes has already smoothened out my day trading. Started looking at where my winners were and my loses. Changed my entry points, changed my approach to loses as well as wins. My daily goal has been $500, then walk away for the day. In the past I would have a good morning and then go for more but I didn't understand how the volatility/volume changes as the morning moves along and that what I was doing at the open wasn't working intra day. I've now been getting results like $800 one morning, $1,300 another etc my lowest this week was $384 and I still walked away. Letting go of FOMO was huuuuuge for me! Now the goal is do the same thing every morning, take notes and tweak my strategy. Can't wait to actually watch you trade in the morning session!
Thank you my friend 🤟
If I stop sooner, it means I can reevaluate my trade bias and find a better entry in the direction I was aiming for, or sit it out and wait. I never trade against the trend, if I get a loser, means I'm either in a pull back and can get a better entry aiming for my original target OR the trend could be in for a directional change, so I get to jump off the chart early.
Thanks to your coaching on here I’m still turning around my losses. I did well trading LIFW and WCT this morning.
Ross's information and insight is just Golden. When I first started trading, this is exactly where I was at - larger losers than winners.
This is so valuable! Thank you for talking P/L scaling and moving stop loss this was exactly what I was looking for from you thank you!!
Would love for you to make a video on patterns you often trade and avoid, head and shoulders, dead bounce, etc etc
Thank you for teaching every day!!!❤🎉
and for reporting the bots ❤🎉
Another big reason why it's hard to sell a losing position in a smaller account is because if you sell that losing trade, you're done for the day and have to sit on the sidelines. And I've noticed some of those pre-market losers that are only down a bit seem to bounce back right at opening of the bell.
Exactly.
Same thing happened to me i lost 10 percent of my portfolio and was done for the day i hit my max loss
I would say that is the Major downfall of most. Not being able to cut losses. I Struggle every day with that. I Try to get in a robotic state. Fails Bails. Easier to recover from a 100 dollar loss as to a 1,000 dollar loss! Simple math!
Ross is an excellent teacher but scalping is a very difficult way to trade - especially if you're a new at this. Swing trading is a lot less stressful and you can still make decent profits.
Ross excellent you do this training every day. Keeping all info of trading
Thanks
Dude, I got stuck in JTAI today the way that you described. I got in at $8, and I didn’t sell when it went to $8.30 or so.
I traded it with a bias because stocks in this range at midday have done so well this week. I trade with a cash account, so I would not have those funds to trade till 24 hrs later.
I also have seen some tickers lately come back in the afternoon-so I had a two-fold bias here. Big mistake and a big lesson.
However, NA stock: I rode for more than a buck per share in the green.
Thanks for the video.
Ross, it looks like you read my mind today. Exactly what I have been looking for this week. When does the sale end by the way?
Thank you for this video, Ross! I can honestly relate to this. 😊
Ross, may I know what broker you’re using on your trade? I hope you’ll see my question or anyone please. Thank you.
Ross , can you make live trading ? Theoretically all of us understand your strategy but practically we want to see your enteries and exits, we don't need your earnings but we want to see your live screen while trading thats what we need . Where you exactly entering and exiting !
Amazing tutorials Ross Cameron , outstanding trading
Dude its like your in our heads this is exactly what I did last week no wonder you are so popular on you tube lol you know the beginner trader inside and out like the palm of our hands
Nice way to finish your Friday Ross and happy weekend to everyone hit my daily goal but not happy with myself broke a few rules I know the market rewards you for breaking rules until it decides to destroy you and I need to be more disciplined so that doesn’t happen JTAI bought at $9.00on the dip and big mistake added at $8.75 and $8.50 went down to $8.00 and then broke another rule and didn’t sell I got a lucky bounce to $9.40 and sold but not good trades made money but I did everything Ross pointed out was a bad thing to do
My problem recently is bailing too quickly. I see it dip and I panic and sell at the least amount of loss. Then I see the stock shoot up 10% and maintain that level. But, with a cash account my load blown on the one trade and I'm done until tomorrow. I have to control the panic.
Learn from Ross, Cut Losers RUTHLESS !
coach you are kill....ing it!!! congrats. my account is suspended for good faith violation but keeping hope alive.
Main issue with having tight stops is giving up settled funds if you're PDT. Even with T+1 settlement, you're depriving yourself of opportunity for the day with every stoploss. So I wonder if it's better to get your account above $25k, just to avoid settled funds limits, and just limit yourself to daily trading the same amount you would have under your normal small account.
You are the best ross thank you for changing my life.
On my 5th book,Happiness Advantage....rules suck,till they dont....thanks Ross
I felt like you made this video just for me...time to size down. Thanks for all you do, Ross🤜🤛
Thanks Ross! I have the tendency to hold onto both winners and losers too long. The most frustrating for me is when I have, what I call, a half winner that doesn’t quite hit my profit target but also isn’t showing any clear signs of reversal (like MACD or volume) and then elevators down to my stop loss. Any advice for that type of movement?
I’m a long term investor but I love watching your content. I’d be lying if I said I wasn’t tempted to try day trading……
ok sir i would start doing your suggest after next week. Great stop-loss trader!
So GOOD!!!! Thank you Ross! 🙏
Thanks for the forecast! Just a quick off-topic question: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?
Big advice for all beginner traders. Know your gut's timeframe. Once you learn that, expand your horizons.
Great video and can really relate to your advice.
Quote of the video: holding it only made it bigger.
Stella mate 😊
@5:35 you described exactly what i do :( i have such a hard time cutting losses for some reason. im so glad youve touched on this point. thank you!
You are a great teacher. Thank you, thank you.
Sheesh - it is like you watched me trade this morning from inside my brain. I appreciate your content.
Great teacher
thank you for your knowledge
Thank you Cameron
I made .50 cents today... had to average down to do it. Done for the day. I have a plan...but obviously it ain't working well.....
Also, it is easy to get smoked in the current small caps market, as there is very little follow through in tickers below $2.
To get out of a loser quickly what sort of order do you use? Is it limit, sell on the bid -0.03 cents?
You are such a blessed and skilled trader I ever know. I lost 35k in the last 2 months.
QMMM had a nice run this morning. I was holding my breath as I was watching to see if it would break $1. It came INSANELY close. 98 cents! 🥴🤯💸🥳
This happened to me today with Amazon! I was up in the first 30 minutes but now holding my loser into the weekend. I sold my winning NKE way too soon. Ugh
But I do have an interesting question. How much percentage of your trades are based on the squeeze of the second leg after the 1st micro pull back and how much is based on the squeeze of the second leg after the 2nd micro pull back. Vs how much of your trade is based on 1st leg before any micro pull back. Based on news only. Also how long would you keep on waiting for another possible squeeze if that stock goes sideways a while. Would you keep an eye on it or just search for possible similar synario with another potential stock.
Yes, this describes me😢. I wrecked my account a few times, including this week. Lost over 30% in about an hour, then clamed up on selling for the day. Now those two stocks are down almost 50% in less than a week. I'll probably watch this video several times!
Damn Ross you been killing it lately, Congrats bro
"Come Into My Trading Room" by Alexander Elder is a great book that talks more about the trader psychology, rather than patterns and formations. It directly addresses the conundrum of taking tiny gains too early out of fear, and holding on to big losses out of hope. That's probably the main issue for 95% of traders. I know it is for me.
Thanks Ross!!!!
Hi Ross big fan of yours I had a good green week as well with a 40% gain. Xcur,Spai, crnc were my trades. But I have a question about Your trade today I looked at the interday chart and I would have not traded this. Obviously you got a gain out of it but I'm just curious as to what triggered a buy. Was it just the volume ratio and float?
Hey Ross, with a small account of $2,000 would you recommend 1 trade a day or 3-4 smaller trades a day?
Hey Ross, does your warrior trading work for mobile??
Ross CHANGED my L I F E ! 😎
The JTAI trade you showed in your video was pre-market, not after opening.
Yes that’s correct. I didn’t trade past the open.
I'm in awe
Hey Ross you keep saying cut the loss and exit and soon as you see downtrend indication. Yesterday I lost 3.6k doing that as soon I will see red sign candles pattern, I will exit and guess what that stock was kept going uptrend the entire day but still cause me to lose 3.6k. I was so stupid because I was looking only to one minute chart, I should had 5 minutes even a day chart as well to look at my stock at those chart as well so I could hold it till end of the day I would made 5x profit instead of loss. I would not exit until I see a daily chart if the daily chart is okay with a stock which has news in 5x RV, chances are it will be in uptrend at least for a day. What you think please advise
Aw man I needed this one today! Losses have been getting sloppy. When to hold and when to cut it still feels as much like gambling as it does education.
Great to see you keeping it strong, Congratulations Chief! As much as your discipline might prevent it, you must be a little proud of yourself, right?! 😂
You talked recently about keeping your daily goal between +/-$5k, but given your average win is now almost double that, is your strategy changing much to maximise the potential or are you trying to maintain consistence and just scale up within your strategy? Does that scaling up put you at higher risk in terms of becoming one of the 'big buyers' that smaller position traders would use/see as resistance/safety on the level 2?
Are you buying with Limit orders? For example. at Minute 33:10 in the video. You said you took your first positions at $8.34 and $8.40 Did you have buy limit orders sent before it bounced off $9.00 Or did you see it coming down from $9.00, hit $8.00 and bounced off $8.00 and you caught it with a market order hotkey on the way back up?
Those were limit orders
cut losers faster then your winners, the results become bigger green and consistent days the more you apply Ross’ principles