Daily Trading Recap | PnL: +$2,264 | Fumbled My Pre-market Plan — Transcript

Full transcript

1. 0:00All right, so today I made $2,264
2. 0:03on my funded accounts. I was trading
3. 0:04three funded accounts and I'm going to
4. 0:07go over a recap of what exactly happened
5. 0:10and I actually ended up messing up the
6. 0:11day today and I'm not really too happy
7. 0:14about it even though we're up on the day
8. 0:16and I'll kind of explain why. So,
9. 0:18essentially what I was looking at this
10. 0:20morning is we did make a pretty large
11. 0:22move down overnight. So, when we moved
12. 0:24down, I actually traded this because all
13. 0:27week I have essentially been watching
14. 0:29this area for us to break lower
15. 0:32and then
16. 0:33come into this area, okay?
17. 0:36If you're in the Discord, you've been
18. 0:37seeing my daily outlooks. I've had my
19. 0:39eyes on this area for the entire week
20. 0:41basically. So, when we started breaking
21. 0:44down before Asia session even opened, I
22. 0:46was trading it on some evaluations and I
23. 0:49passed like three evaluations taking the
24. 0:51shorts into this area. Then I woke up
25. 0:53this morning and I was seeing that we
26. 0:56were pushing higher.
27. 0:57We pushed higher overnight.
28. 0:59So, the idea for this morning when we
29. 1:02were opening somewhere around here is I
30. 1:04wanted to see us start targeting lower
31. 1:06and there's a couple reasons for that.
32. 1:08Well, the first reason is I'm looking
33. 1:11for us to dig deeper into this large
34. 1:13move up that happened on Monday. Also,
35. 1:15session-wise, I just wanted to see us
36. 1:17take London lows. I wanted to see us
37. 1:19take Asia lows or daily lows.
38. 1:21And so, the idea was when we opened up,
39. 1:24I wasn't going to be looking for any
40. 1:26type of long activity until we started
41. 1:28making our way higher above this area.
42. 1:31Then at that point, I would have
43. 1:32potentially tried looking for some
44. 1:33longs, but until we got there,
45. 1:36everything in this area or more
46. 1:38specifically, everything in this area at
47. 1:41market open,
48. 1:42I was looking for shorts. And then
49. 1:45another reason why is I was looking at
50. 1:46gamma levels. So, if we go take a look
51. 1:49at some of these gamma levels that I'm
52. 1:50using,
53. 1:51actually this might be easier to show it
54. 1:53on the chart, okay? So, let me pull this
55. 1:55over. This is QQQ. These are gamma
56. 1:58levels, okay? This is the zero DTE
57. 2:03QQQ option gamma levels. I recently
58. 2:05started trying to implement gamma levels
59. 2:08in my trading. So, when we were opening
60. 2:10up, we were opening up in negative
61. 2:12gamma, negative gex. And so, the draw
62. 2:16where I thought we were heading today
63. 2:18was towards 600. Now, 600 on NQ, if we
64. 2:22were to go look at NQ, is basically
65. 2:25right around here at that 640 660 area
66. 2:29for NQ. So, when we opened up up here,
67. 2:33I'm looking for us to essentially come
68. 2:35down lower
69. 2:37and target down here. Now, once we get
70. 2:40over here, I'm watching this area
71. 2:42because I want to see if we're going to
72. 2:43bounce off of it or not, right? And if
73. 2:45we start falling lower, then at that
74. 2:48point, I'm looking for us to come lower
75. 2:50into the 598 or even down here into 595.
76. 2:54But what really happened is cuz 595 is
77. 2:56so much lower, I was really looking at
78. 2:57598. Now, when we opened up, we started
79. 3:00to push up a little bit, push up and
80. 3:02then once we started snapping down, I
81. 3:04went short right here, okay? So, my
82. 3:06position looked a little bit like this.
83. 3:08The first position. I went short, the
84. 3:10stop was like right here and we were
85. 3:12targeting down here to this area.
86. 3:15Now, it went about 100 ticks in profit
87. 3:18and then it ended up snapping back and
88. 3:19hitting me out of break even. So, once
89. 3:21we pushed up and we started pushing down
90. 3:23again, at this point, I'm looking for
91. 3:25shorts, okay? Now,
92. 3:28what I wanted to see is I wanted to see
93. 3:31this candle open up and immediately
94. 3:34retrace and then I would enter shorts
95. 3:36here looking for this candle to flip
96. 3:38bearish and continue the momentum lower.
97. 3:40What ended up happening is we opened up
98. 3:42here with no wick
99. 3:44and we immediately start pushing down.
100. 3:46We take Asia lows and daily lows and we
101. 3:49start pushing into this area. I didn't
102. 3:51end up catching any of this because I
103. 3:53didn't get an entry for it. On stream,
104. 3:55before we even get down here, I
105. 3:57literally say,
106. 3:58"All right, well, I'm watching basically
107. 4:01this area to see if we're going to have
108. 4:03a reaction here or not." Now,
109. 4:05once we start pushing into this area, we
110. 4:08get a strong push down. I made a pretty
111. 4:10dumb decision and I didn't wait for this
112. 4:12candle to close and I didn't wait to see
113. 4:16what we were actually doing here. I
114. 4:17tried to anticipate it. So, I ended up
115. 4:19actually bottom ticking shorts like a
116. 4:21genius
117. 4:23and I got stopped out of that. So, at
118. 4:25that point, I was down $900 copy trading
119. 4:28three funded accounts. So, then at that
120. 4:30point, I actually tried to go long right
121. 4:32here. Once Once I realized we were
122. 4:34bouncing off the 600 put support, I
123. 4:36tried to go long right here and got
124. 4:38stopped at break even. At that point, I
125. 4:39ended the stream because like I started
126. 4:41getting kind of pissed off. I had to
127. 4:43take a break for a second. So,
128. 4:46I went, walked around for a bit, had to
129. 4:48take a break. I come back and I still
130. 4:50have room in my daily loss limit by the
131. 4:52way. I come back and I notice that we're
132. 4:55breaking lower. We're breaking lower.
133. 4:57So, as we're breaking lower past the put
134. 4:59support, what do I do? Well, I try and
135. 5:01go short here because I think that
136. 5:03there's a decent chance that we push
137. 5:05into the 598 level and I'm able to
138. 5:09essentially make the money back on the
139. 5:11day. I mean, I only needed essentially
140. 5:1325 points. So, I go short. The trade
141. 5:16looks something like this. I waited for
142. 5:18this candle to open up. It pushed up. I
143. 5:20entered short right here, really tight
144. 5:22stop loss and then I just went for
145. 5:24basically a quick scalp. So, this put me
146. 5:27back up to break even on the day. Then
147. 5:30what ended up happening is
148. 5:32as we're pushing into this 598, I'm
149. 5:35noticing on footprint that we're having
150. 5:38sellers getting absorbed right here. So,
151. 5:39I wait for this candle to make attempt
152. 5:41lower and pops back up. This candle
153. 5:43makes an attempt lower and as it starts
154. 5:45popping back up, I decide that I'm going
155. 5:48to go long because I think that we're
156. 5:50going ahead back into the 600 area. This
157. 5:53is the highest negative gex. So, I
158. 5:55thought that we'd push back up into it.
159. 5:57So, then at that point, I essentially go
160. 5:59long somewhere around like right here at
161. 6:02this I put my stop right at the bottom
162. 6:04of this 5-minute candle
163. 6:07and as price was pushing up,
164. 6:09when this 5-minute candle opened up, it
165. 6:11immediately started to retrace at first.
166. 6:14So, I put a stop buy meaning that I'm
167. 6:17going to add into my position if this
168. 6:19candle were to have flipped and pushed
169. 6:21higher. So, the moment that this candle
170. 6:23flipped and pushed higher, it added me
171. 6:25into a position.
172. 6:27And then we picked up a lot of speed
173. 6:29right into the 600 area and once I saw
174. 6:31we were pushing back up into this area,
175. 6:34well, I just ended up getting out of it.
176. 6:36Now, because I added into a winning
177. 6:38position and it it allowed myself to
178. 6:41still remain in a scenario where I can
179. 6:44put my stop at break even, instead of
180. 6:46going five micros which I went on, you
181. 6:48know, this trade and this trade, I added
182. 6:51in another three. So, it ended up
183. 6:53putting me in eight micros. And so, at
184. 6:55that point, since I was break even on
185. 6:56the day, we pushed up, I was able to
186. 6:59capture like $800 or something across
187. 7:01three accounts putting me up 2200 bucks
188. 7:03on the day, 2300 bucks on the day. And
189. 7:06then I stopped. Now, the problem is that
190. 7:09upset me today is my pre-market plan was
191. 7:12correct, okay? I had the idea that we
192. 7:15were going to push lower. And where were
193. 7:16we going to push lower? We were going to
194. 7:18push lower into the 600 area on QQQ.
195. 7:21Once we were in the 600 area, the plan
196. 7:24pre-market was for me to basically sit
197. 7:27and watch, not assume, not predict, but
198. 7:30just watch what order flow is doing and
199. 7:32try and get an idea on if we were going
200. 7:34to break or if we were going to rotate
201. 7:37back up, okay? I did not wait. I just
202. 7:41tried to go short. I tried to chase it.
203. 7:43I got FOMO and it caused a really
204. 7:45unnecessary loss that honestly kind of
205. 7:48pissed me off because it kind of pissed
206. 7:51me off that the plan played out for the
207. 7:52morning and I wasn't able to get into
208. 7:54it. And then it pissed me off even more
209. 7:57when I had an area, it was a solid area
210. 8:00and I was supposed to wait and watch to
211. 8:03see if we were going to accept further
212. 8:05or rotate back and I didn't wait. I just
213. 8:08FOMO'd into it. So, at that point, I had
214. 8:10to I had to stop the stream. I had to go
215. 8:12take a walk. I walked around a little
216. 8:14bit. I walked around a little bit. I
217. 8:15calmed down. I calmed down and then my
218. 8:19eyes then were set on 598. Now, here we
219. 8:21are again even after the trade I took
220. 8:24right here, we're still bouncing off
221. 8:25this 598 area for QQQ. So, I'm learning
222. 8:29this gamma or gex exposure stuff right
223. 8:32now because I'm I'm figuring out that it
224. 8:34actually goes hand in hand with order
225. 8:36flow. It's been on my to-do list of
226. 8:39things to basically look into and
227. 8:41potentially add to my stack of trading,
228. 8:45right? Because it's really important to
229. 8:48understand this. I mean, if we're
230. 8:49looking for absorption with order flow
231. 8:52and then aggression following that,
232. 8:54these types of conditions or the this is
233. 8:56going to basically help with location.
234. 8:58I'm still learning it. So far, I think
235. 9:01it's awesome and gamma is perfect for
236. 9:03order flow. I'm going to continue to use
237. 9:05it and I'm going to continue to learn.
238. 9:07But yeah, today we're up 2264.
239. 9:10I'm not really happy with how I traded
240. 9:12today though because my analysis was
241. 9:14right, but you know what I always say,
242. 9:16it's like you don't get paid from
243. 9:18analysis, you get paid from your
244. 9:19execution and the execution today in the
245. 9:21very beginning while I was on stream was
246. 9:23straight up dog water. It was terrible.
247. 9:27It was terrible. I hesitated.
248. 9:29I FOMO'd.
249. 9:31I had to take a walk. I come back,
250. 9:34get back to break even, put me back in
251. 9:36profit. When I mark out a lo- what this
252. 9:38is what I need to do. When I mark out
253. 9:40location, the location filter, when I'm
254. 9:43structuring a trade, I have to wait.
255. 9:46That's like literally my strategy.
256. 9:48Location then confirmation. I tried to
257. 9:52basically predict this area. This This
258. 9:55was the worst trade of the day,
259. 9:56obviously. I mean,
260. 9:58bottom ticking some shorts is pretty
261. 10:00impressive. It's pretty impressive for
262. 10:02an idiot, you know what I mean? Yeah,
263. 10:04I'm going to work on it. I'm going to
264. 10:05continue to focus on these gamma uh
265. 10:08levels and try and incorporate it with
266. 10:11my my strategy in terms of using it as a
267. 10:13location filter. So, we're up on the
268. 10:15day. We're up on the funded accounts.
269. 10:17And then,
270. 10:18if you want to watch me trade live, I
271. 10:20trade on stream sometimes. Yeah, I do
272. 10:23trade off stream. Sorry.
273. 10:25The point of the stream though is not
274. 10:26for you to copy my trades. Just know
275. 10:28that. It's just for educational
276. 10:30purposes. Do not copy my trades. It's
277. 10:32not financial advice. And I'll catch you
278. 10:34guys next time. Peace.