Daily Recap | PnL: +$8,069 | Quick Day 2W — Transcript

Full transcript

1. 0:00All right, so let's do a quick recap of
2. 0:04the day. Today we were on stream. We
3. 0:06caught about 150 points. Let's go over
4. 0:09the daily outlook first on what I was
5. 0:11actually looking at and why and then how
6. 0:13we ended up executing on it. So just to
7. 0:15get the numbers out the way, we copy
8. 0:17traded some accounts. Some of them are
9. 0:19eval, some of them are funded. We're up
10. 0:21about $8,000 on the day. for the funded
11. 0:24accounts were we're up about maybe 3,000
12. 0:27and then the evals were probably up
13. 0:28about 5,000. So earlier this morning I
14. 0:32sent out my outlook. Now let's go over
15. 0:35the outlook first and let's talk about
16. 0:36why I thought we were going to do what
17. 0:38we were going to do. Now let's take a
18. 0:40quick break to tell you about the
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38. 1:17match. Now, let's get back into the
39. 1:18video. We have been watching a multi-day
40. 1:22value down auction. We've been
41. 1:23auctioning lower. During the overnight
42. 1:26session during London, we were balancing
43. 1:28out at the lows. Now, what we were
44. 1:31watching is we were watching sellers
45. 1:34defending this 28,050 to 28,080 area,
46. 1:38which is essentially range highs at this
47. 1:40point. And then we're watching buyers
48. 1:42defend this 27,880
49. 1:44area. There was a lot of friction to the
50. 1:47upside. So the path of least resistance
51. 1:49today was to the downside. Why? Because
52. 1:51for us to truly move higher today to
53. 1:54take the highs to then begin to enter
54. 1:57back up into this area where we start
55. 1:59rebalancing the move from yesterday.
56. 2:01Well, we had to reclaim range highs. We
57. 2:04had to have acceptance above that and
58. 2:06hold. And then not only that, but once
59. 2:09we get towards the HVL, which was
60. 2:11currently sitting at 28,140, that's
61. 2:14something that we had to actually get
62. 2:15above and hold as well. Now, those are
63. 2:19three different things that we need to
64. 2:20push past that we need a lot of buying
65. 2:22aggression to get through. And not only
66. 2:24that, but we had the RTH session above
67. 2:27this PC and hold above it and continue.
68. 2:30So, there are all these things that can
69. 2:32potentially cause friction to the
70. 2:33upside, but to the downside, we're
71. 2:35auctioning lower day after day. We've
72. 2:37already broken out of the higher time
73. 2:39frame range. It's very possible being at
74. 2:41range highs that we were looking for us
75. 2:43to at least come back to range lows,
76. 2:45continue this mean reversion behavior.
77. 2:47And in the event that we do break this
78. 2:49area here, then we would see us come
79. 2:51down and then potentially target where
80. 2:53Tanuki's put wall was sitting, which at
81. 2:56the time or it still is is 27,690.
82. 3:00So we have this game plan. We understand
83. 3:02it's FOMC eve. We understand it's right
84. 3:04before FOMC.
85. 3:07That's just something to take into
86. 3:08account. So due to it being FOMC or the
87. 3:11day before FOMC, my apologies, is we
88. 3:14could potentially see us chop and range
89. 3:16and coil up. Now, we are in a negative
90. 3:18gamma environment. We were opening up in
91. 3:20a negative gamma environment today. We
92. 3:21were down here. So, with that being
93. 3:24said, typically you associate that with
94. 3:26more volatility. Yes, the mindset this
95. 3:29morning was more so we're ranging. We're
96. 3:30in a negative game environment. We're
97. 3:32looking for us to essentially either
98. 3:34play the range or break out of the range
99. 3:36and look for a continuation. So, then
100. 3:39what actually happened now at the
101. 3:41morning in the morning prior to the
102. 3:43open, what do we see? Well, we're
103. 3:45pushing up to range extremes and when we
104. 3:48have the volatility injection that
105. 3:49happens every morning 5 minutes before
106. 3:51the open, we see us start making the
107. 3:54move down, start breaking lower. So, we
108. 3:56were in the stream, I was telling the
109. 3:58stream, I said, if we open up and we see
110. 4:01this candle, the opening candle
111. 4:02immediately push up and we watch that
112. 4:05aggression from buyers and that
113. 4:07aggression fails and we begin to flip
114. 4:09bearish, then I'm going to go short. And
115. 4:11I mentioned that the first area of
116. 4:13friction for shorts where we have to be
117. 4:14careful is around here. What do we do?
118. 4:16We open up. We push back up into the
119. 4:18stacked imbalances from the volatility
120. 4:20injection 5 minutes before the open. We
121. 4:23have buyers stalling out here. Buyers
122. 4:26are failing. Sellers begin to re-engage
123. 4:28to the downside. And the moment that
124. 4:30this candle begins to flip bearish, then
125. 4:32I enter short. So the first trade looked
126. 4:34a little bit like this. And the replay
127. 4:37is up on the YouTube channel if you guys
128. 4:39want to go look at it. stop was above
129. 4:41buyer failure. We were aiming for 250
130. 4:45points to the downside. I was copy
131. 4:47trading about six or seven of my funded
132. 4:50accounts. We started moving lower. Once
133. 4:52we got to this area, I needed to be a
134. 4:54bit careful. Now, the way that this
135. 4:56actually formed is we did push down
136. 4:59initially into this area here. We began
137. 5:02to struggle. We were starting to stall.
138. 5:04We were we were having trouble breaking
139. 5:06at the moment momentarily this 880 area.
140. 5:09we see buyers step back in and the
141. 5:11moment that sellers again re-engage that
142. 5:13momentum to the downside, then we move
143. 5:16the stop and we end up getting hit out
144. 5:19of this for like uh 75 points or 70
145. 5:22points on the funded accounts. Then I
146. 5:24mentioned to the stream, I said, "Okay,
147. 5:26we're out of it on the funded accounts.
148. 5:28We ended up only getting about, you
149. 5:31know, 75 points out of it, something
150. 5:33like this." And so we move on to some
151. 5:35evals. So then I'm telling the stream
152. 5:37we're watching what happens after we
153. 5:38take London lows because what we don't
154. 5:40want to happen in a situation like this,
155. 5:42especially being in a negative gamma
156. 5:44environment the day before FOMC is we
157. 5:47don't want to see us take London lows
158. 5:50and then rip back into the range and
159. 5:52then continue a potential consolidation
160. 5:54for the rest of the AM session. So then
161. 5:56what do we see? Well, once we actually
162. 5:59get below Asia lows, the next candle
163. 6:00opens up and it's this candle here. We
164. 6:03immediately start pushing up, but we see
165. 6:05aggressive selling activity that is
166. 6:07defending or defending the positioning
167. 6:09to keep us going lower. Not only that,
168. 6:12but we are watching the book and we were
169. 6:15watching large orders load up on the
170. 6:18ask. They weren't there to spoof or
171. 6:20remove the orders. They actually got
172. 6:22filled. And we can see that they got
173. 6:24filled because you see this yellow
174. 6:26bubble here. It's a big trade. It's a
175. 6:28big trade that hit the ask. It's buyers.
176. 6:31Now, we see them fill the orders. We're
177. 6:34seeing if they're going to continue that
178. 6:35momentum to the upside. In this case,
179. 6:37again, buyers fail. Buyers fail, sellers
180. 6:40re-engage. We begin to flip bearish and
181. 6:43keep that momentum going to the
182. 6:44downside. So, I enter in. I do the same
183. 6:47thing. This is a continuation style
184. 6:49entry. We put the stop loss above buyer
185. 6:52failure and we target 690. Price comes
186. 6:55down to 690. We get out of it. two
187. 6:58trades, followed the plan for the
188. 7:00morning that we mapped out pre-market
189. 7:02and we're done. We finished the day in
190. 7:04about like 15 minutes. Really took about
191. 7:0715 to 20 minutes to finish the day. So
192. 7:10now we are up about $8,000 in total, but
193. 7:14realistically
194. 7:15um if we go look at it's about $4,000 on
195. 7:18the evals and about $3,000 on the funded
196. 7:23accounts. And then I have some other
197. 7:24fundeds that aren't in this group that I
198. 7:26traded as well. So that was for me the
199. 7:29move of the morning. This is what I
200. 7:30planned out. This was the objective for
201. 7:32the day. At this point, that's all I
202. 7:34planned for. I was able to take
203. 7:36advantage of it on evals and funded
204. 7:39accounts. I'm done. I'm done for the
205. 7:40day. I'm not going to sit here try and
206. 7:42make another plan or what's going to
207. 7:44happen after we break past the put wall.
208. 7:46Whatever. Okay. We had a good day. We're
209. 7:48done. And that it is what it is. So,
210. 7:52just wanted to do a quick recap of today
211. 7:55because I said I would do these more
212. 7:57often. We're going to get back at it
213. 7:58tomorrow. Tomorrow is FOMC. We're going
214. 8:00to be a little careful about that. And I
215. 8:02will catch you guys next time I trade.
216. 8:04Peace.