$396K profit in ONE MONTH Day Trading… full breakdown

Summary

In this trading recap video, the speaker details their $396,000 earnings from day trading in October, emphasizing the importance of focusing on 'R multiples' to measure performance relative to risk rather than just profits. They review their trading strategies, discuss their best and worst trades, and share insights on market themes, win-loss ratios, and the significance of having a process-driven approach to trading for consistent improvement.

Takeaways

• 📈 The trader made $396,000 in October through day trading, emphasizing that the absolute profit figure is less important than the risk-adjusted performance measured by R multiples.
• 📊 The focus should be on R multiples, which represent the ratio of profit to risk in a trade, rather than just the profit amount, as it accounts for different account sizes and risk tolerances.
• 🎯 The trader achieved an R multiple of 61 for the month, indicating a strong performance relative to the risk taken, which is a key metric for evaluating trading success.
• 🤔 The trader had a win-to-loss ratio of 2.11, suggesting that for every dollar lost, two dollars were made, but acknowledges that this ratio needs improvement for better consistency.
• 📉 Despite a high win percentage, the trader experienced a significant loss on one day, highlighting the importance of not being biased and being able to adapt to market conditions.
• 📝 The trader's best setups were identified as continuation selloffs, which were particularly effective during the bearish market theme in October.
• 🗓️ The trader was selective with trades, allowing the market to come to them and not rushing into positions, which contributed to the high win percentage.
• 🕒 The trader increased their time horizon, allowing trades to develop beyond the market open and capitalize on opportunities that presented themselves later in the day.
• 📉 The trader's largest loss came from being biased on market direction and not adapting when the market moved against their position, resulting in a loss of nearly $30,000.
• 📝 The importance of having a pre-market game plan and being able to read market cues is stressed, as it helps in executing trades effectively and avoiding potential pitfalls.
• 🔑 The trader advises focusing on the trading process rather than just the P&L, as a disciplined approach to the process will naturally lead to better P&L outcomes over time.

Q & A

What was the speaker's total earnings from day trading in October?

The speaker made $396,000 from day trading in the month of October.

What is the significance of the 'R multiple' in trading performance according to the speaker?

The 'R multiple' is significant as it measures the performance in terms of the risk taken. It represents the ratio of the profit made to the amount risked on a trade, which is a more relevant measure of performance regardless of different account sizes and risk tolerances.

What does the speaker emphasize as the only number that matters in terms of performance?

The speaker emphasizes that the 'R multiple' is the only number that matters in terms of performance, rather than the absolute profit figures.

What was the speaker's R multiple for the month of October?

The speaker's R multiple for October was 61, meaning they made 61 times what they risked during the month.

What is the speaker's view on the importance of win-to-loss ratio for traders?

The speaker believes that the win-to-loss ratio is important for traders to understand how much each winning trade makes compared to each losing trade, and it should be a focus for improvement.

What was the speaker's win-to-loss ratio for October?

The speaker had a win-to-loss ratio of 2.11 for October, indicating that for every $1 lost, they made $2.11 on average.

How did the speaker's win percentage in October compare to their typical performance?

The speaker's win percentage in October was one of their best of the year, typically ranging between 40-60%, and in October, they were green every day except for one, where they had a significant loss.

What trading strategy did the speaker find particularly successful during October?

The speaker found the 'continuation selloff' strategy particularly successful during October, capitalizing on the bearish market theme.

What was the speaker's biggest trading loss in October, and what led to it?

The speaker's biggest trading loss in October was close to $30,000, which occurred because they were biased and did not adapt to the market's strong rally on the 23rd.

What advice does the speaker give for traders to improve their performance?

The speaker advises traders to focus on their trading process rather than their P&L, to recap trades regularly, and to have a process-driven system that they follow each day.

What does the speaker suggest as the last metric to review in one's trading performance?

The speaker suggests that P&L should be the last metric to review in one's trading performance, emphasizing the importance of focusing on the process and execution of trades.

Outlines

00:00

📈 Month of October Trading Recap

The speaker reflects on their October trading performance, emphasizing the importance of focusing on the R multiple, which measures the risk-to-reward ratio of trades, rather than the absolute profit figures. They discuss the significance of the R multiple in evaluating performance across different account sizes and risk tolerances. The speaker also introduces their overall performance metrics for the month, including a high win percentage and an R multiple of 61, and sets the stage for a detailed breakdown of their trades and strategies.

05:01

📉 Trading Performance Analysis and Market Themes

This paragraph delves into the speaker's trading performance, highlighting a bearish market theme in October and their ability to capitalize on this trend. The speaker reviews their win-to-loss ratio, which indicates a need for improvement, and their win percentage, which was one of the best of the year. They also discuss the importance of being selective with trades and allowing them to run beyond the planned R multiple, leading to significant profits on certain days. The speaker acknowledges a single day of significant losses due to market bias and the challenges it presented.

10:02

📝 Trade Execution and Setups Review

The speaker provides an in-depth look at their trading setups and execution, focusing on a continuation selloff strategy that was particularly successful. They describe the criteria for this strategy, including market gaps, key level consolidations, and weak imbalances that signal continued selling pressure. The speaker shares specific examples of trades that resulted in substantial profits, emphasizing the importance of market recognition and the ability to adapt to market movements for successful trading.

15:04

📉 Overcoming Bias and Market Adaptation

In this paragraph, the speaker discusses the challenges of overcoming personal biases and the importance of adapting to market conditions. They admit to missing out on trades due to preconceived notions about market direction and the difficulty this caused in recognizing opportunities in the opposite direction. The speaker also revisits the need to improve the win-to-loss ratio and the impact it can have on profitability, even with a strong win percentage.

20:05

📊 Trading Insights and Process-Driven Approach

The speaker concludes with a focus on the importance of tracking setups, identifying trading strengths and weaknesses, and having a process-driven approach to trading. They share insights on specific trades, including an exhaustion reversal strategy used in response to market overreactions. The speaker advises viewers to shift their mindset from focusing on P&L to focusing on performance metrics like R multiple and win-to-loss ratio. They encourage traders to develop a systematic approach to reviewing and improving their trading process.

Keywords

💡Day Trading

Day trading refers to the practice of buying and selling financial instruments within the same trading day. It is a short-term trading strategy that aims to capitalize on small price movements, often using leverage. In the video, the speaker discusses their experience with day trading in October, highlighting the trades they took and the profits they made.

💡R Multiple

The R multiple is a performance metric used in trading to measure the return on a trade relative to the risk taken. It is calculated by dividing the profit or loss of a trade by the amount risked. The speaker emphasizes the importance of focusing on R multiple rather than absolute profit figures, as it accounts for the risk size and provides a more accurate measure of trading performance.

💡Win-Loss Ratio

The win-loss ratio is a measure of the average profit per winning trade compared to the average loss per losing trade. A higher ratio indicates that the trader is making more on average when they win compared to when they lose. The speaker mentions their win-loss ratio of 2.11, indicating that for every dollar lost, they made two dollars on average on winning trades.

💡Risk Management

Risk management in trading involves the process of identifying, analyzing, and accepting or mitigating uncertainty in investment decisions. The speaker discusses the importance of risk management by emphasizing the R multiple as a key performance indicator and by sharing their experiences with different levels of risk in various trades.

💡Trade Setups

A trade setup refers to the specific conditions or patterns that a trader looks for before entering a trade. The speaker breaks down their successful trade setups during the month, such as the continuation selloff, which is a strategy based on the market's trend and specific market conditions that they identified and capitalized on.

💡Market Theme

The market theme refers to the overarching sentiment or trend in the market over a certain period. In the video, the speaker describes the market theme in October as extremely bearish, which influenced their trading decisions and setups, allowing them to capitalize on the selloff.

💡Performance Analysis

Performance analysis in trading involves reviewing and evaluating the outcomes of trades to understand the effectiveness of one's trading strategy. The speaker provides a detailed analysis of their performance over the month, focusing on metrics like R multiple and win-loss ratio, rather than just profit and loss figures.

💡Execution

In trading, execution refers to the process of carrying out a trade according to a plan or strategy. The speaker reflects on their execution during the month, noting instances where they were able to effectively capitalize on market conditions and times when they could have improved their entry or exit strategies.

💡Bias

Bias in trading is a preconceived notion or opinion about the direction of the market that can influence trading decisions. The speaker discusses the impact of having a bias on their trading, mentioning how it led to missed opportunities and a significant loss on one particular day.

💡Continuation Selloff

A continuation selloff is a trading setup where a trader expects the market to continue its downward trend after a gap down or a strong selling pressure. The speaker describes using this setup effectively during the month, providing examples of trades where they profited significantly by shorting the market after recognizing a continuation selloff pattern.

💡Recap

Recapping in the context of trading refers to the process of reviewing past trades to learn from them and improve future performance. The speaker emphasizes the importance of recapping trades, discussing what they did well and what they need to improve, as a key part of their trading process.

Highlights

Made $396,000 day trading in October and aims to break down the trades and process.

Emphasizes the irrelevance of the total profit figure and the importance of 'R multiple' as a performance metric.

R multiple is the ratio of profit to risk, providing a standardized measure of trading performance.

October's trading performance was evaluated with a 61R, meaning 61 times the risked amount was made.

Discusses the need to improve the win-to-loss ratio, which was 2.11 for the month.

October had one of the best win percentages of the year, but it's not typical and can vary.

Every trading day in October was profitable, except for one day with a significant loss.

16 trading days with 35 trades, focusing on best setups in a bearish market theme.

Continuation selloff setups were particularly successful during the month.

Reflects on the importance of market reads and capitalizing on market movements.

Shares insights on being selective with trades and allowing them to run beyond planned R multiples.

Mentions the importance of having a process-driven system and focusing on the process rather than P&L.

Provides examples of trades, including entries, exits, and the thought process behind them.

Discusses the impact of bias on trading decisions and the importance of being adaptable.

Shares personal notes on what was done well and areas for improvement in trading.

Advises traders to recap trades regularly, focusing on performance metrics over P&L.

Encourages traders to develop scenarios for each trading day to be prepared for various market outcomes.

Concludes with advice to take trading seriously, recap trades, and focus on process improvement.

Transcripts

$396,000 is what I made day trading in

the month of October and in this video I

want to break down exactly what trades

I've taken what my trade process was

what days I traded what the best setups

were what are things I did great and

what are things I did bad I just want to

walk you through a whole trading month

and just give you guys an insight to my

performance so with that being said

let's dive into it now first and

foremost for all the naysayers that are

new here here is my broker statement and

as you guys can see

$396,000 from October 1st to November

1st just to kind of get that out there

right now with that let's dive into

these trades now one thing I want to be

crystal clear on is that I know I was

talking about this number of

$396,000 and I know when people see this

number this is what they focus on now

what I want you all to understand and

what I want every single person watching

to realize is that this number does not

matter this number is irrelevant the

only number that matters in terms of

performance is this R multiple right so

when I come in here what is the r

multiple of that day what is the r

multiple of that week of that month the

reason that's the only number that

matters is because we are all trading

with different risk size different

account size we have a different

approach to the market just from the

risk side right forget what our approach

is from Traders and so on but from a

risk perspective we are all risking

different percentages uh we all have

different account sizes as mentioned but

what we can look at to analyze

performance is R multiple now what is r

multiple is R multiple is basically if

I'm risking $200 on a trade and let's

just say I make

$600 R multiple is saying my R multiple

on that trade was 3 R meaning I made

three times what I risked on the trade

now some people might see a 600 $100 day

some people might see a $60,000 day now

what they're both contingent on is what

the underlying risk was both of these

people could have risked a different

amount which is why we want to always

focus on the r multiple so if I have a

day or a month where I make $660,000 but

I've essentially risked let's say 30,000

to make that 60 right my R multiple is a

two meaning I made twice my risk amount

if someone has a profitable trade of

5,000 and they risked 1,000 their R

multiple is five okay that's why this is

the number I want every single person to

focus on this is a number when you guys

are evaluating your days your weeks this

is what you should focus on now going

into my trading performance yeah it's

cool 396,000 which is once again what

everyone is going to be focused on but I

want to once again focus on this R point

61r is what I made made on the month so

I made 61 times what I risked if we take

this number out we could maybe look look

to see that hey I probably made $10,000

if I made $10,000 I made 61 times what I

risked whatever that risk amount comes

to maybe I made $30,000 I made 61 times

what I risked in terms of R now going on

to each and every single day if we look

at some days I you know made or lost 3.6

R so I could have been risking or let's

say risking $1,000 here right if I

risked $1,000 here I lost about

$3,600 right if I was risking $1,000 I

lost about $36,000 so if we go into this

day and we take a look right I lost

$29,000 right and obviously the amount I

risked was about $10,000 but I ended up

losing a lot more than what my R was

same thing if I go into one of these

days I have a 2 R I have a three R I

have a seven R I made seven times what I

risked okay so now recapping my month

some of the stats we want to go over

went over these let's go over my win to

loss ratio right that is something that

I know needs Improvement right I had a

2.11 win loss ratio and this is also a

number that I believe every Trader

should be focused on uh just to kind of

understand how much is each winner

making and how much is each loser making

so if my average win to loss is a 2.11

if I'm losing $1,000 per trade I'm

making $2,000 per trade this is pretty

good right OB if we can get this number

higher and we can have a bigger

discrepancy between this number that'll

give us more comfortability uh I did

have a good win percentage now one thing

I do want to focus on is this has been

one of my best win percentages of the

Year I'll typically have a 40 to 60% win

percentage uh sometimes 40% and and I'm

able to be profitable uh this was one

month that obviously trades just came to

me came to me a lot better and not every

month is also like this so I also want

to point that out day win percentage

essentially I was green every day which

is once again not the case I had one

losing day where I lost roughly about

$299,000 in that one particular day okay

now when I'm basically recapping my

months as mentioned these are some of

the stats I'm looking at just in terms

of uh performance how is my performance

what is my R multiple and so on now just

to recap this day this month I had 16

trading days uh 35 trades uh what were

my best setups and go through some of my

setups and my setups guys are always

contingent on the theme of the market so

October as you guys have probably seen

the theme of the market was extremely

bearish right start October off with a

little bit of a sell-off quick bounce

the first week and then a massive

selloff afterwards so because of this

selloff and because I was able to

recognize this selloff I was able to I

was able to capitalize on that movement

right so once again these are some of

the three setups that I have that are

that did really really well so if I go

into to my playbook and let's say I just

look through some of my setups here uh

some setups I have continuation selloff

did really really well on this I'll go

through some of the trades here about

236k most likely just on the year on

that setup uh some days I'm going to

break down for you guys in the bit and

then here are my notes for the month

right so things I did well so every

every month or and every week I like to

go through things I did well things I

did bad so these are some of the things

I did very well this month I was able to

cap capitalized on the market read

pretty well so meaning how the market

was able to sell off I was able to

capitalize on that so if you look at the

p&l aspect as you guys can see pretty

strong start I had a strong start around

11 12th I kind of got a little bit shaky

13th I didn't go in with a lot of risk

so this week of 11 12 13 when we come

here right 11 12 13 I'm kind of confused

on what the market direction is and then

the next week is where I got really

really comfortable or a little bit more

comfortable as you guys can see to take

on trades same thing again 18th 19th uh

missed out on some days uh wasn't sure

if we're going to see a continuation

selloff same thing on the 19th even

though in the 19th I think was a pretty

good day and now where my trading really

picked off right and I'll show you these

days are the 25th 26th and 27th so let

me go to the 25th 26th and 27th are the

days where I was able to make a lot of

my trading p&l for the month right and

the reason for that is because I had one

setup that typically happen all three

days and I'll show you guys that in a

bit and I was able to maximize on that

setup consistently right but just

putting the dollar value aside again and

going to these three days and looking at

the r multiple one day 4 R 8 R 10 R this

day I rised whatever I risked and I made

about 60 Grand where whatever I rised I

made 4.5 times that amount right same

things this day whatever I made whatever

I risked I made about eight times that

risk amount and when we look at this

trade about 64 ,000 about 169% and these

big wins guys didn't start coming in

until the end of the month right prior

to the end of the month my biggest

winning day was about 42k but the these

three days I was able to make about

close to 200 Grand in just three trading

Days by capitalizing on a setup that the

market presented and that's what I was

talking about when I was going through

things I did well I capitalized on the

market read really well right I also

allowed my trades to run and hit beyond

my planned R and that's what happened on

these three days my planed R was

probably a 2 five maybe a three tops

right but I was able to get a eight

maybe a 10 in conjunction with the other

two trades because these trades were

Trend days and I'll talk about that in a

bit I also executed well best winning

percentage month of the year and I was

very selective of my trades I liked how

this month I was very calm I was

selective I was letting the trades come

to me I wasn't rushing them I've also

increased my time Horizon so you'll see

some of the trades that I've taken

aren't on the open there're trades that

are kind of like I'm letting the market

formulate and and the market come to me

and they're happening at 11:00 a.m.

eastern time maybe 12:00 p.m. eastern

time maybe even 1 p.m. where I'm

allowing these trades to generate and

continue the sell off right now things I

need to improve after recapping uh

someone became buy Som days I was able

to read that but I was very biased

before the day started and I was kind of

stuck on oh man I think we're going to

we're going to go lower or we're going

to go higher and because the market

started selling off it became really

hard to read the updates even though I

was able to capitalize on one or two of

the updates right uh this led to my

biggest trading loss of the month so the

biggest trading loss I had which was

close to 30

grand uh it was because I was short on

the 23rd and when we go to the 23rd we

we gap down but we had a strong rally

towards the upside right so I lost or

had the biggest losing day of the month

because I was biased right and then uh

when we go into a few more notes uh

being biased made it difficult for me to

take an additional trade so a lot of

times because I was biased the other

direction of the trade that was there I

wasn't able to capitalize on it my winto

loss ratio needs work 2.11 isn't the

best especially with my R and win

percentage I had a pretty strong win

percentage let's just get that clear

this is not an average win percentage

where I'm right 7 70% 80% of the time

this is not normal just want to be super

clear about that right so because I had

a good win percentage if this win

percentage was to go lower to let's say

50% I would still be profitable but my

p&l would take a drastic hit so this to

me a lot of times I'm trying to be at

the 2.5 to3 right I'm trying to make two

and a half times to three times what my

losers are right that puts me at a more

comfortable state of being wrong more

times and still being profitable and

this means when I do take a loss it's

bigger than it should be my strong win

rate helped me here but a weak win rate

would drastically impact my p&l as

mentioned right so now let's go through

some of the trades and let's go through

some of the setups so here I am on my

playbook section right uh let's go

through some of these setups so one

setup that I that did really well for me

this month is my continuation selloff

right so this is what I want to share

with you guys so these three days where

I was able to really capitalize on the

market especially these two days guys

the market presented the same exact

opportunity and I want to show you guys

that really quick took one trade that

was it okay looking at this trade I'll

show you my entries I'll show you my

exits I'll show you all that stuff in a

bit but let's go into my Daily Journal

right so this is what happened on the

25th and then I want to show you what

happens the next day right so we have

the 25th let's go on the 26th and let's

look at that day too right let's look at

both of these days let's just look at

the charts just to get an idea of my

continuation selloff so this is the

first trade where I was able to make

about $59,000 right now the trade I had

here was a continuation selloff and in

this continuation selloff when I do go

to my playbook these are the following

criterias I am looking for and these are

the criterias that worked back to back

right one what I typically look for is I

look for some sort of strong selling

happening around the open right we get

some strong selling maybe we get a gap

down into a key level so this is the

25th right Wednesday 25th we gap down as

we gap down we push right below

yesterday's range we start consolidating

and right when we consolidate of course

after consolidation sometimes I am

expecting some sort of reversal now if

there is a reversal that is the key area

I'm watching for and I'm watching that

key area to see if this reversal has any

strength behind it is it actually a

strong move are we just going towards a

liquidity area that I'm watching to

maybe just kind of reject off the key

Zone and then do we start selling off

from there so all of these things are

question marks so what do I do so a few

things that I I look at when I am

analyzing my trades uh I am looking at

let me see if I have it here I am right

here I am looking at a footprint chart

to give me confirmation to show me are

they trap buyers are they trap

participants are they aggressive buyers

aggressive sellers who is in control so

I look at this a lot to get a good idea

right but before I even get there I'm

looking at the structure and the

structure here is once we start going up

to to this area we're hitting our key

key zone right once we hit our key zone

I'm seeing a downside structure which

started off today and I'm seeing a weak

imbalance what that means is I'm still

seeing that sellers are in control no

strong buyer has entered the market yet

this leads me to have a continuation

selloff meaning I'm looking for that

continued play Maybe into new low of the

day or maybe even a lower point which is

4200 on that day so when I see that I am

taking on a short position so when we

see my short position on this right when

we go to the

25th right this is what I am essentially

looking at so when I go to the 25th as

you guys can see around 11:05 a.m. is

where I take my short and right when I

take my short at 11:05 a.m. I just rided

towards the low of the day right so in

terms of my risk I'm risking about

$3,500 on this particular day I ended up

making about $60,000 and I ended up

making 4.4 R now a few things I want to

show you about this trade which are

which are pretty cool put about $38,000

once again not typical trades these were

Trend days on Trend days I because I'm

trading options I'm looking for

maximized returns don't happen every day

but let's just say someone risked $1,000

on a 4 r trade or 4.4 R trade you're

looking at a 4500 return once again this

is not happening every day this is

happening on trending days especially

when the market is selling off and for

anyone that's not familiar I am trading

options right second uh a few

interesting things about this trade

entry solid exit I left you know

obviously I left some money on the table

if we do look at it because I sold a

little bit way too early if I held I

would have made more money but my exit

on these continuation sell-offs most of

the time right are happening I am

looking for the low of the day I don't

want to get trapped in a low of the day

where I start getting trapped and we

start seeing a reversal now some things

I could have done better and this is

where recapping is really helpful is I

wish I left some Runners if I left some

Runners I could have possibly made more

but once again making more is a concept

in trading where sometimes I'll hit

profit targets and if I I don't even

want Runners just for the mental sake

where I'm like you know what I've hit my

profit Target I don't want to have the

mental up and down of I could have or

should have made whatever amount it is

and I'll just take my full position off

especially if I have a trade where I'm

making a good percentage or I'm making a

4 r or 5 R I'll take that R and I'll say

you know what this R is big and this

means more to me than giving some of it

up so I'll take that trade now if you

look at the structure of this trade and

you look at the structure of everything

that's happened here we're going to go

to the next trade and I'll show you guys

how a lot of times your setups

especially when you're in tune with the

market and you are recapping you are

going through your trades and so on are

very consistent right so if I go through

the next day right guys look

relatively we had a similar structure

right this is the day

before that I did really really well on

right we gap down right Gap outside of

yesterday's levels retrace into the key

Zone same cell imbalance weakness right

there continue to a new low right we

look at this day same exact thing we gap

down from yesterday's area once again

not a massive Gap but we gap down we gap

down below 4200 keyzone in es 4200 is a

massive massive level we gap down right

below that we open we get the morning

kind of ShakeOut which I didn't trade

and I wish I traded that right we get

the morning ShakeOut right I don't you

know obviously I didn't take the morning

ShakeOut which I wish I did but I was

patient and this is what I was talking

about me being selective this month I

was extremely selective on letting

certain trades play out if I wasn't

selective maybe I could have taken on

more trades who knows if they would have

worked or wouldn't have worked but I was

just letting trade ideas formulate right

so coming to this trade uh same exact

thing we open gap down right from

yesterday's area we start selling off we

establish a bottom around 4170 4175 we

establish a bottom we hang out at the

bottom and we have a quick move into the

opening price of

4200 this is once again where I start

looking for the following right going

into my playbook did we hit the key

level yes we did seeing a downside

structure yes we are is there a weak

imbalance yes there is because of these

things I'm able to go and I'm able to

take on my short position that I want to

take on for this particular day and

seeing seeing so allows me to capitalize

on this particular trading day and when

I go into this trading is action right

guys can see same exact thing we go in

at

1055 we see the rejection hit the

opening area I go short boom take the

low of the day same thing here I didn't

sell I didn't scale out I didn't get the

perfect exit my entry I was happy about

I didn't get the perfect exit it's okay

I got the low of the day at that

particular point and I will live with

that when I say I live with that I'm

talking about a8r trade meaning I risk

$7500 of my Capital on this trade yes I

put 30 thou

$37,000 but in terms of r i risk $7,500

these are trades that I'm really really

happy about right now when we go to

trades that I'm not happy about right I

want to focus on one or two more days

and I'll kind of take it from there

right when we go into another trade that

we've we've even had in

in November and you know when I do my

November recap I'll show you guys but

this is another uh trade exhaustion

reversal right we've been seeing this a

lot especially when we're getting

massive big down dayss or up days so

just to kind of give you guys a theme

right whenever we have a very aggressive

sell-off in the market continuously

there are days where I'm looking for a

squeeze and you know in November we've

had that already if you guys have seen

November's uh market we've gotten a

squeeze like three times right so this

play I've taken in November to and I'll

show you guys in the upcoming weeks too

but this is basically where I'm seeing

an exhaustion squeeze so this happened

in the beginning of the month so just

kind of walking you through some of the

ideas so on the 6th of Friday uh of

October 6th we had NFP we had non-farm

payroll it came out at a key key level

Market dumped right so if we go here we

look at this Market dumps after we have

non-farm payrolls we go to an exhaustion

point and Market tends to hold so I want

to show you guys what I mean by this so

here's a chart just to take a look at

this we have non-farm payroll right we

have econom economic event for anyone

that's not familiar Market gaps down

after selling off from this level this

is the level that market sold off from

we open up and the interesting thing

that happens here are buyers are able to

maintain control the whole day and

because buyers are able to maintain hold

on the open that showcases that this was

an overreaction move and during days

like this especially when we've gapped

down uh we've seen overreacted moves

right we held the area pretty strong

right passive buyers are stepping in and

accumulating these areas over and over

again and we're able to move with

strength these days to me replicate a

squeeze replicate a strong move to to

the upside and that's exactly what we've

seen in November so this is where guys

tracking your setups tracking your days

identifying the days you are trading

well identifying the days you're not

trading well is extremely important and

one thing I I do and I I recommend

everyone to do is before you start your

trading day have scenarios for the day

what are the scenarios maybe the market

overreacting we recover after massive

selloff maybe we get some short covering

so I'm already looking for that recovery

for this day I'm already looking for

that exhaustion that's happening because

hey we sold down over and over again

during this time and I'm just looking

for a reversal if the market gives me

clues that's why tracking these things

paying attention to these things things

are extremely extremely important now

just to leave you guys off with a few

things just going over this once again

guys when you guys are trading and just

leave you with some advice don't look at

pnls don't look at my p&l I I post these

numbers and realistically I hate posting

that I made this dollar amount but I

understand that is what is going to get

you guys to watch this video if I said

hey I made $9,000 this month and let's

say I did you guys don't care right but

if I made $99,000 and I risked only

$1,000 and I had a 9 month that is

phenomenal so I want you guys to switch

your mindset and start thinking in terms

of R start thinking in terms of

performance stop thinking in terms of

p&l right every month when I go through

my p&l my last metric is my p&l there's

months where I have great p&l months and

I've traded terribly and there's months

that when I focus on the process of what

is my winto loss ratio what is my R

multiple what are my best setups am I

executing my best setups you know

effectively am I taking my trades in a

good way am I being selective right do I

have good pre-market game plans do I

have good biases for the day do I have

good reads in the market when I focus on

this this allows my p&l and my results

to be better than saying well I need to

go and make a hundred grand like remove

that so if you are going into November

you are going into December you are

going into the end of the year go and

say let me start recapping my trades on

a weekly basis and looking at areas I'm

doing well areas I'm doing bad in and

what I need to focus on in terms of my

process and not my p&l if you do that

for 6 months and so on you will see that

week after week your trading starts

improving because your p&l is a

byproduct of your performance and your

performance is what you need to focus on

and your performance is not p&l it is

your process that you follow each and

every single day so with that being said

I hope you guys enjoy this recap I hope

you guys start taking your trading more

seriously and you start recapping your

trades and you have a process driven

system with that being said I will see

you guys on the next video thank you