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Trading Monthly Recap: May 2020 $70,100 — Transcript

by Jack Kellogg · 4,836 words · 626 segments · language en · Watch on YouTube

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0:00what's going on everyone Jack Kellogg
0:03here closing out May 20 2010 month for
0:08me I'm most proud about my average loss
0:11being just 244 dollars whereas the
0:14previous two months of March and April I
0:17was losing roughly 400 to 450 per trade
0:21and I was able to keep my average win in
0:24between April and marches average gain
0:29so I was able to show you about 50% of
0:31my risk and kind of maintain my average
0:34win and a big contributor to that has
0:37been a few things one thing being that
0:41OTCs have kind of came back a little bit
0:44whereas I was trading Nasdaq's the
0:47previous months and when Nasdaq's
0:50there's a lot more volatility volume
0:52competition and all that stuff so it's
0:56hard to really keep your losses to a
0:59minimal exposure where as ot sees it's a
1:04lot more friendly of action to me I've
1:07been trading them for the longest and
1:08it's you know why I grew up on I still
1:11feel a little bit new to the Nasdaq game
1:13so I still get tossed around here and
1:15there and I did take a 5 grand loss last
1:20month and the month before that and that
1:22was my main goal as noted last video was
1:24to just eliminate that big loss in the
1:27month where I just feel like absolute
1:28crap because I make so many mistakes and
1:30this month I didn't really make I mean
1:34one mistake where I didn't cut my loss
1:36at risk but I safely exited on a dip and
1:39did not hack to my loser I lost about
1:4230% as you can see biggest percent loss
1:45and biggest dollar loss on my screen
1:48that was the trade I was talking about
1:52but other than that I had been keep my
1:55losses very small and not fighting any
1:57names there's so much opportunity in
2:00this market and longshore Nasdaq OTC and
2:04I was really able just to move on
2:07quickly because I knew there would be
2:09different opportunity right around the
2:10corner so I don't want to waste my
2:12mental and
2:13on one stock that is proving to me that
2:15I'm not right if I'm not right you know
2:18I want to move on and if it does the
2:20move that I was looking for oh well you
2:22know what I mean
2:23whereas if you continue to sit there and
2:25fight a stock that just isn't working
2:28it's very easy to lose the perspective
2:33of the other opportunity in the market
2:35because you're so fed up with one
2:37particular opportunity that you have
2:40your buying power locked up you're not
2:43focusing on anything else you know this
2:45is a trader friendly market where even
2:48not necessarily even scalping but you
2:51can consistently make 1020 percent and
2:54then on the big trades that are working
2:56really well you know you can you can
2:58make 50 so thirty percent thirty to
3:01fifty percent on those kind of trades
3:03and that's just gonna add up and just
3:06exiting your trades very quickly was the
3:09number one thing for me this month I
3:12almost be March but I I was about six I
3:18was about 10% short of having a new best
3:21month but I still made roughly seventy
3:23thousand which is really cool that's a
3:26really solid month I'm very grateful for
3:28that I mean that per year would just be
3:33insane if I made seventy thousand every
3:36you know month this year would be insane
3:38so I'm very grateful for that
3:40month as we're approaching you know
3:42summer now it's going to be June first
3:44and I kind of enters the summer phase
3:48for me so I'm gonna kind of see how the
3:51market how the market shifts if at all
3:54but you know I'll be ready for
3:56opportunity if there's still opportunity
3:57and if it slows down a little bit like
4:00I'm completely okay with it I'm just
4:01taking everything for what it is and I
4:04say this almost every month but I'm
4:08really just taking the market for what
4:09it is and if there's no opportunity I
4:11don't need to force anything you know
4:13our job as a day trader is just to take
4:15opportunity that the market presents us
4:17and you can't force to make money you
4:20know what I mean if you're forcing to
4:21make money it's just you know that's
4:25what I did last summer where
4:26just kept forcing to make money and you
4:29know I did learn a lot because it set me
4:31up for this hot market because I had
4:33been practicing for so many months with
4:36Nasdaq when I was unprofitable for that
4:38entire year with the Nasdaq's but that
4:42set me up for profitability in the
4:43Nasdaq see then this month was really
4:45cool because it was just an old-school
4:47OTC Nasdaq you know that's my stomping
4:51grounds over there and I was able to do
4:53really good shorting a lot of these and
4:56logging a few - and the other thing I
5:00want to make note of is just a trading
5:03accountability buddy someone you can
5:05talk to someone you can share ideas with
5:07someone that's similar to you that
5:09person for me recently has been Kyle
5:11Williams I'm gonna go ahead and link his
5:13channel in the description and me and
5:16Kyle have been talking on the phone a
5:17lot recently and we just like to share
5:19ideas off each other and especially for
5:22me I don't know if Kyle feels this way
5:23either um talking to him just makes me
5:27feel grounded and you know I don't need
5:30a fight and if you don't if he is
5:32thinking the same thing that I'm
5:34thinking it's probably a higher odds
5:37perspective you know two-brains better
5:39than one in my opinion so that's that's
5:42been really good he's a conservative
5:45trader and I'm a little bit more
5:46aggressive but that conservative 'ti
5:50helps me as well just rationalized and I
5:53think that was also a contributor to me
5:55not taking a big loss and he had his
5:57best month ever which was really cool
5:58that he could take some aggression aside
6:01for me so we just balance each other out
6:03really well I think and it's kind of
6:06cool just to trade with a friend so if
6:09you guys are out there networking is a
6:13really really key in this game I think
6:15that's why I've learned so many things
6:17is just not working with the right
6:19people well you definitely can learn
6:22everything on your own
6:23and if that's your kind of personality
6:24like don't shy away from that you know
6:26if you're a lone wolf out there and
6:28you're just learning by yourself you
6:30don't like talking people that's fine
6:31too man but for me it's all about not
6:34working having friends I have people to
6:36talk to about side Diaz off of that's my
6:39style
6:40well enough enough of that I'm going to
6:43go ahead and get into just some stats
6:46here I mean nothing too too crazy I mean
6:50my goal kind of this month was just I
6:52kind of wanted to make a consistent 10
6:54grand a month and they're not 10 grand a
6:57month 10 grand a week sorry and have
7:00like a 40 grand a month and I almost
7:03doubled it
7:04so I almost doubled my goal which was
7:06cool and a lot of that had to do with
7:08this last week here where there was just
7:10an insane amount opportunity and I had
7:12my biggest traded on ticker symbol IMDB
7:16why and I'll get into how that trade
7:18came to me and how I was ready to do
7:21that because the back story behind it is
7:24everything it's not like I just showed
7:26up one day and just did it I've been
7:28training for that day the entire month
7:32so we'll get into that as noted just
7:37small losses three red day's very small
7:41and my Highbridge Green Day it was 40 to
7:4443 hundred dollars a days what I
7:46averaged this month which is crazy
7:49because my average loss is 250 so every
7:53single day on average I was making let's
7:59see
7:59it would be like 16 17 times my average
8:05loss really really cool and just coming
8:08some nutty stats and I I don't think
8:10that this is possible to keep up but
8:13certainly for the month I was able to to
8:16do it so we'll see um getting into
8:19monthly review here as noted on Twitter
8:24I said I just had five losses above $500
8:28and those are the five losses right
8:30there and the
8:31one came on the last of the month so it
8:33would only been four which would have
8:35been crazy only to over a thousand and
8:37this was the bad when I'll get to where
8:39I didn't stick to my risk so I'll
8:44explain that and then just a bunch of
8:48smaller break-even trades and then I was
8:49just banging out singles like all these
8:52all these singles right here these
8:55really add up like I was saying last
8:56video to guys like just being able to
8:59consistently make this money low risk
9:00and then when your big trade comes
9:02you're prepared because you have been
9:04building up cushy but hitting singles
9:05you have confidence a lot of the best
9:09trades come when the market is hot you
9:13are on a hot streak and then you just
9:15now so that's what I have to say for
9:18that and then I'll kind of get into
9:21these two tickers kind of are similar
9:23and this one kind of prepared me for
9:25this one as well going into owner
9:28structuring charts I actually still
9:35traded OTC and Nasdaq about 50/50
9:39whereas I thought I kind of had traded
9:41OTC a little bit more I'm not sure where
9:47the majority my Nasdaq traits come from
9:49I think more towards the first couple
9:51weeks of the month were a little bit
9:54more Nasdaq II than OTC but I went short
9:59more times this month I think this is
10:02the most the biggest month that I've
10:04shorted just because like I was saying
10:06me and Kyle were talking all the time
10:07and he's primarily a short seller and I
10:11just been you know sick of losing some
10:14of these Long's and I just don't have
10:16the conviction to risk as much on Long's
10:18just because I'm not I don't have that
10:22kind of conviction on Long's for some
10:23reason it's always been hard for me to
10:24risk a lot on long spawn shorts I can
10:26kind of develop a conviction level so
10:29that's why I like sizing up a bit more
10:30on my shorts though my lungs and usually
10:34my stats my Wintersun is better with my
10:37shorting so Nasdaq 1% pretty for this
10:42month only about 50/50 for so not really
10:46good but as I was saying you know TC
10:47really was my savior this month
10:50OTC was was really really good it was
10:53the best month wrote EC so far this year
10:55in my opinion and then long-long 1% not
11:00bad I traded it a little bit less and my
11:02win percent he knows up a couple percent
11:04compared to previous months where it's
11:06like 53 54 55 and my short 1% actually
11:09went down a few percents so my long went
11:12up my short went down so that just kind
11:14of shows that I do over trade a bit
11:16because whichever one I trade more long
11:19or short it's it's probably gonna take a
11:21couple ticks down on 1% and those are
11:25probably losses
11:26so overall 1% about 62.5 solid and you
11:33know my average winning are compared to
11:36my you know my average loss was 244 so
11:39my average winning trade was 3.7 times
11:41more than my average losing trade with a
11:46win percent of 62.5 so I think those
11:50stats are really solid you know you even
11:54say oh why can't you just do this with
11:56four times the amount of you know rescue
11:58and there comes the situation where you
12:01know everything becomes how you think in
12:04the moment and if you're just risking
12:06more money you could make worse
12:07decisions so for me I I've always just
12:10been a little bit more conservative with
12:12how much I like to risk because I know I
12:13can make an average profit of $900 and I
12:17know how quickly $900 can add up whereas
12:21if you're trading bigger position sizes
12:23you're gonna burn out way more easily
12:25and as I said like 70 grand a month
12:28think about how much that is at the end
12:30of the year and that would just be
12:33awesome and you know you always can do
12:35better and I'm still trying to grow
12:37obviously so it's not like I'm not
12:38trying to have my wrist but I'm just
12:39comfortable for what I'm doing right now
12:41my stats are really really good and you
12:44know a lot I know some people comment be
12:46like oh you're supposed to size up when
12:47you're doing
12:47as well this is when the markets hot and
12:49all this stuff but I'm just comfortable
12:52for what I'm doing I'm comfortable with
12:53the money that I'm making and I probably
12:57will not size up too much especially
13:00going into the summer months I will
13:02potentially up my risk probably at the
13:05start of next year where I might get a
13:07little more aggressive at that time I'm
13:10not the kind of trader who's just gonna
13:12go from zero to 100 I like slowly
13:15building it up it's like slowly building
13:17a cushion I don't want to take you know
13:19a massive loss and throw me off for
13:21multiple months like I was saying you
13:24keeping that focus is so important so
13:28one hundred fifty two trades a little
13:30bit less than last month which is good
13:32and all this we already know and then my
13:36profit factor was about a six point two
13:38so making six point two that times money
13:41that I lost this month really good my
13:43long profit factor trading a little bit
13:45less with a higher win rate almost a
13:48four which is really good that's been my
13:50highest long profit factor this entire
13:53year fairly sure and then my short prime
13:56factor about seven point three three
13:58which is just really good I'm really
14:00happy with that has been hired previous
14:03months I'm pretty sure February or
14:06January when I was in training as much
14:08sure I had a really nutty one but that
14:10is still super solid and you know
14:14compared to last month I'm a lot more
14:16satisfied with my trading last month I
14:19was just feeling so much that's why I
14:21was telling you guys don't like the
14:22number throw you off last month like hit
14:23the cute grin was great last month but
14:25you know a large chunk of that came the
14:28last day on take your civil you abs and
14:32for this month it was just consistent
14:35with no big losses and last month I was
14:37going through a lot of I was really
14:40burning out all the time because I was
14:42just putting myself at massive risk
14:44exposure and my my unrealized was just
14:47always very volatile whereas my own
14:51realized is a lot less volatile this
14:55month we're just kind of just slowly up
14:57ticked I didn't put myself
15:00risk you know to be down a few grand and
15:03you know a few you know a few hours so
15:11well I'm gonna get into some of the
15:14trades I guess I know I'm not sure what
15:18you guys want to see me review but I'll
15:21review this and how like I was saying
15:24how this built up to this here and then
15:29I'll maybe talk about a couple of these
15:31trades I'll talk about my big loss down
15:35there so we'll start off with the good
15:37and then end on the bag so this is NM
15:41hly and basically this ticker first came
15:46on my radar early april and we had seen
15:53it pop up and it was just very minimal
15:55volume so we didn't touch it but then it
15:57kind of came down and as you can see it
16:00liquidated all the way back down to
16:01seven cents so we knew that it had
16:04potential to unwind massively and it
16:07went on another clean rung from 12 cents
16:11all the way up to a buck 20 and as you
16:15can see here the price action is very
16:17clean no marks by sideways morning spike
16:20sideways nice afternoon breakout that
16:22someone could take advantage of you know
16:24buying that breakout 50 to $1.00 so
16:26after this move I kinda it respected the
16:29stock this was this day right here so
16:32this candle is fake here this wick so it
16:35was a clean gap in spike and then
16:39sideways into the close and then I first
16:43started training it this day and this
16:46was at the end of April 428 so it popped
16:49up and we traded it all the way back
16:51down here and we left a enormous profit
16:55on the table because we didn't swing it
16:57back down we just kind of traded this
16:59day on the short side we were able to
17:00make some pretty good profits and then
17:04it came down and it it then wanted to go
17:09on a third run right here as you can see
17:13and it popped up into the same thing
17:15again and had the really nice move here
17:20and then I look to short at this day
17:24right here in the first red day after
17:25you know another clean three day run and
17:28this time I had a very good feel for the
17:30price action level too because now I had
17:32seen it pop up already two times so
17:36that's when I shorted it this was 5-12
17:38and I had shorted it into the morning
17:42weakness made a really nice game from 70
17:45cents to 45 cents in just the first 15
17:48minutes and it came back and a short of
17:52the bounce and then built back into a
17:54position to swing overnight because now
17:56I had finally learned that okay now it's
17:58your time to swing overnight all the
18:00overhead resistance is in it's proven
18:03that it can unwind all the way back down
18:05so swung it overnight and covered down
18:08here for a profit which was really cool
18:13because I had a feel for the stock like
18:16no other and I I'd still been scalping
18:19it to guys like I scalped it on this day
18:21and - ashore just I had a good feel for
18:24the action that could make 10% a lot on
18:26it and then I could have the big trades
18:28on it as well so as you can see that was
18:33my my gain on the stock from sixty four
18:38to forty nine to twenty five thousand
18:41shares and this was multiple this was
18:43two traits here for about thirty nine
18:45hundred which was my biggest trade until
18:47I am BBY and now we will talk about I
18:50and dby so as you can see this is kind
18:56of just like the higher-priced example
19:00of inv dy and we had seen it pop up this
19:05day and it came out way back down and
19:07was just a little bit too liquid as the
19:10same was for an HL y di popped and then
19:16what I wanted to do is go on this Queen
19:19three-day run like animate shot Y and as
19:23noted on an MHL I had that he
19:26with Kendall on that first run that it
19:29when I was a liquid so almost very
19:33similar price action except this
19:35obviously has a lot more volume than how
19:38to make sure why did with the same kind
19:39of chart pattern and other than the
19:42chart pattern it had the same kind of
19:43level to action and it was higher price
19:45so commissions were going to be less
19:46which was a huge advantageous thing for
19:51me to trade the stock with so I had I
19:55actually tried logging it a little bit
19:57here and I knew to stay away from the
19:59store but then I got interested in
20:00shoring it to this day and I actually
20:02started shorting this stock at twelve
20:05dollars right I started shorting this at
20:07twelve dollars and it went to $40 and I
20:09made 20 grand on it and I started
20:11shorting at 12 and it's not like I
20:14started shorting at 12 with the idea
20:17that I was supposed to go down I just
20:18started using the tape and level two to
20:21get in near hole dollars with a very
20:24tight twenty to thirty cent stop-loss
20:27let me get a sip of water here so the
20:37stock was very very good at respecting
20:40whole dollars and I was able to build a
20:42cushion into the stock the entire day
20:44and I actually already made like 10
20:47grands on it through this action right
20:50here and then it did the insane
20:52parabolic from 20 to 40 and I read the
20:56level two tape and I got short 39 38 ish
20:59and I wrote it back down to 25 and I was
21:03able to about double my profits on it
21:05for 20 grand change my biggest trade
21:07ever and how you can see with animate
21:10shell I just kind of set me up for this
21:12trade because in practicing on nm hly
21:15which I felt like was just a lower tier
21:16plate to this one and when this one
21:19popped up I was the first one on it
21:22playing it down here and I played it all
21:23the way up and unfortunately I missed
21:26this after had unwound under view op
21:30which was unfortunate you know I left
21:33them another 50% on the table like a lot
21:35of people always say their best trade
21:37you always leave some on the table
21:40so I left a ton on the table here that I
21:43was able to shore it the next day for a
21:44few Miller couple grand trade and all in
21:48all it's just a great ticker for me and
21:50you know what I'm hoping for is it does
21:52like another anime hly pattern works
21:56when we go on a couple more runs and
21:57I'll be looking for that we'll see what
22:00they can do but great great name I'll
22:03get into ACB next which was a really
22:07nice now as that first red day
22:11as you can see same as the previous
22:14charts the three green days on the daily
22:16chart looking for that first red day and
22:20basically started shorting it you see
22:24the chart this entire time it's very
22:26bullish above above you up here and here
22:30in free market wanna had this fake
22:32breakout here on the fourth Green Day is
22:36when I was like alright I'm gonna give
22:38this a stab and I gave it a stab under B
22:40while and I added added added and got
22:43some shares and I covered down here and
22:45then I reassured it and that covered
22:47some more down here and it was just a
22:48really solid trade I was able to make
22:53roughly 3,800 on it and I was risking
22:56about 300 on my original position so
23:01just being able to scale into your
23:03winner and understanding the first red
23:06day action is they usually give a bounce
23:08and reject off the VIP area and then you
23:09get that next flush so I was able to
23:11double my profits on on the stock with
23:15this next flush here so very very nice
23:18name there
23:22BYZ and guess what guys the same pattern
23:25the three green day extension you know
23:28I'm looking for the trend change three
23:30strong green days starts has the fake
23:32breakout rejected Viwa boom and all the
23:36way down and that this is the most
23:38predictable trading pattern that I like
23:40to play is the first red day after your
23:42clean multi-day extension someone asked
23:45me that on Twitter the other days you
23:47know what was my favorite pattern
23:49another good one Espio a.m. I mean
23:53see this starting at the pattern here
23:56guys every single chart has literally
23:59been the dead exact same three green
24:01days fake breakout unwind and everything
24:08like I didn't even realize all my best
24:10trades are literally the same chart
24:12pattern CVS I this one was a little bit
24:16different where it was a one two three
24:19four five six seven day extension but as
24:22you can see here it wasn't that extended
24:24yet and then I had a fake red day and
24:27then extended itself more so as I was
24:29noting in the previous previous
24:32beginning of this video I said that I
24:35won't fight a name after it has the the
24:38movie I was looking for and it was a
24:40fake move unless it extends itself so it
24:43had you know this move here and
24:44fortunately I didn't even short at this
24:46day because there was some other better
24:47opportunity out there but then it
24:49extended itself from 70 to a buck 20 so
24:54after it extends itself more after
24:56having at the fake move that's when I'm
24:58interested and we get the paper a go and
25:01we get the the fake high bay and the
25:04unwind all the way down
25:07same pattern guys same pattern every
25:10single one on my best trades in the same
25:12pattern and now if we want to go to my
25:16worst trades GN us here this one's been
25:25insane this month the day that I lost on
25:29it was this day here so I just knew this
25:35company being really sketchy to begin
25:37with so I just didn't wait for to extend
25:40itself fully this went from 74 to a
25:45dollar forty and then I got trapped in
25:47this gap down here then it ripped up as
25:48you can see and my risk was somewhere
25:51around this one thirty one twenty or
25:53something I'd forget exactly what it was
25:56well I ripped through and then I ended
25:58up covering I like a buck sixty so I
25:59lost like twenty cents and slippage or
26:01something like that maybe thirty
26:06so that was my biggest loss and as
26:07fortunately as I said I didn't add to my
26:10loser I didn't make the trade worse
26:12I simply exited and took took the out
26:14for what it was then my other bad loss
26:17was an MB is and this is something that
26:20I got to work on as well is this was you
26:25know big time opportunity up from 24
26:28cents to you know a buck 80 so I was
26:30shorting it this day here and as you can
26:34see look how choppy it is what I should
26:37have done is shorted it higher and how
26:42to higher stop-loss I kept you see these
26:44dips here or you see these wigs I kept
26:47shorting an under view off and then
26:48covering back when I went over it just
26:50wasn't you see it looks like it's gonna
26:51die comes back and it finally dumped
26:54late day I missed it and me and Kyle
26:57we're talking about foam we both agree
26:58or better at short selling in the
27:02morning whereas afternoon dumps are a
27:06lot tougher but we're trying to work on
27:11that and I think that has to do with
27:12getting a better entry in the morning
27:14somewhere in the strength instead of
27:16trying to chase so that's what I'm gonna
27:19work on for this next month here dude
27:22and you know let's just see what the
27:24market brings us guys I'm in no rush to
27:26make a ton of money I'm just going to
27:28take it for what are those guys but
27:30that's basically it for me I also wanted
27:32to note that me Kyle and Matt have been
27:36doing something called steady trade
27:40twists which is this week instant steady
27:44trade that's what twists Tom's for and
27:46we've been doing weekly reviews every
27:50Wednesday and publishing that video
27:52every Thursday I kind of some of our
27:54highlight trades and then we'll pull up
27:58a couple watches and what were watching
27:59for the rest of the week so if you guys
28:01are interested in that I'm gonna leave a
28:04link to the description that playlists
28:06they're pretty good vids honestly like
28:09it would be something that I would want
28:10to watch if I was a newer thing there's
28:14pretty good value in there and then you
28:16got
28:16as well if you guys don't like all the
28:18shorting talk that's a big time long guy
28:20he just had his best month this month
28:23which is really cool so really good
28:27market I'm very grateful guys it's been
28:29a lot of fun let's see what June brings
28:32us see you guys in the June recap

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