[LIVE] Day Trading | How to Make Money (even when you're wrong...)

Good morning it's clay at claytrader.com. This will be a live trade video where i try to capture some of my trades as they play out live i want to get something updated here and really the reason why i want to get this video going looking like there's going to be some good opportunity out there but 12. 15.. Interesting. Pullback. Point, here. In. Free market for a long. Trade. So what i'm doing here is just like i said getting my thoughts documented. And also. If you're curious how the private community that works. Uh or how the private community that i offer works then you can see that right there just type that up and these are live. Meaning, well as i stumble over my words very clearly this is not some sort of scripted, thing, so when i say live i just mean that. I am seeing the information for the very first time and i'm recording myself seeing this information for the very first time in other words, this is not a situation where everything's already been recorded. And then i come back and talk about it, this is uh, real. As real as it gets, and like i mentioned earlier if you're looking for some well scripted, professionally, edited video, uh this is not going to be it but. I got to get this order down here, 12 15.. Bye, so if you're not familiar with my screen. Down here in this white section you can see that i'm looking to. Buy. P e c k 500, shares at 12 15.. So we got a bit of a ways to go but this one can be a very fast mover. Uh but that's what's going on now again i don't know if this will ever i don't know if a trade is going to take place because this is truly live. Uh so i'm not playing stupid like i know some people do they record everything, and then they come back and do a voiceover. And some don't even tell you it's a voiceover they just try to play like they don't know what's going to happen. But they they do because it's already all been recorded but in this situation i don't know if 1215, is gonna get hit or not i have no idea, uh but that is what i'm currently looking at right now, market still doesn't open up for. About 30 minutes but maybe a pre-market, trade plays out here so i'll keep a close eye on it and if it looks like 12 15 is going to come into play, then i'll get the video rolling. I do like 1360. For an upsided, scalp point here. Wow that fast turned back around. There's a relatively, big spread so watching 1360. For potentially, a scalp to the upside. Now, it's pulled back here never quite, got back down to where i was looking for it to. I mean it could still pull back again but right now definitely showing some strength. So just looking for. You know not looking for any sort of home run by any stretch. But we'll see if i can get up to 1360. And if it looks like that level is going to uh be broken down through i'll get the video rolling and potentially, take a long sided trade as a breakout instead of trying to buy a pullback. All right getting up there, in at 1360.. Let's see if we can get a move to the upside. Well that fast and it did not fill me. There we go out there for the quick 75, dollars. Thought i was gonna get out in the 1380s. I'll have to scroll back but. When i put in 1375. I thought i'd get filled up in the 1380s. But. Apparently, not. And there we go. Nice. I, realized clay why'd you sell so soon well because i didn't have hindsight in my favor and as you. If i did my job right tried to very clearly explain that was strictly just a scalp that i was looking for the whole time. Um and a scalp is what keeps it at as a high probability, trade. So 75. Yes i realized i could have had a lot more, uh but remember the the bigger the home run trade you go for, the less and less likelihood, you are putting the probabilities. Against you. Whereas, if you're just looking for the quick scalp again nothing's, ever guaranteed. But, you can arrange your probabilities, in your favor and that's what i was looking for right there. So. Yes in hindsight, i chose the wrong strategy, i should not have done a scalp i should have done.

A Different strategy, but again, that's why we're all fantastic, traders in our hindsight accounts but like i said, pre-market, just wanted to take a quick little move there, uh put myself in the green technically before the market even opens and yeah now i'm up 75. And the price is. So i'm almost wondering. So there's the pre-market, chart, here. I could see maybe 12.75. If it wants to pull back but, i think if it comes back down to 12.75. I mean that would that would be implying this whole thing's a failed bounce which would put it at pretty sketchy territory. So i take that back even if it were to come down to 1275. I would not be interested, in that area. Um still might be interested though in the in the in the 12s though so i'll keep an eye on it but overall, 75, dollars, up, for the day. Really wish i could short this right now. And yep there it goes. But there are no shares to short on this one, but yeah if i could have shorter that would have been a fantastic, setup to short, so i'll just kind of mentally paper trade it, um granted it's already. Essentially worked out, nicely. So it's really just a question of how nice could it have potentially worked out, but yeah i think this thing. Uh. Has a great chance of at least going down in the 1275. Mark now whether or not it breaks down through 1275. I don't know about that. But the other thing just talking out loud. Might, maybe be able to trade this but, the this thing has a track record of getting halted, this is a very fast mover and there are no halts in pre-market, which is another reason why i wanted to take it because i had didn't have to have any worries about it being halted but, once the market officially opens at 9 30 a.m. Uh i think this thing has a high high. Did i mention high likelihood, of being halted. So you know you. And am i saying it's right or wrong to trade stocks, in some cases yes it's blatantly, right or wrong because some stocks just become flat-out gambles. Um. But. As far as this one i really got to ask myself the question would i be okay getting stuck in a halt, and maybe if it's the first halt of the day, i try to get in the direction, of the halt. But like i said i don't know how i feel about that plus there's some other good opportunities, out there, uh but that's definitely me kind of you know talking out loud right now and considerations. That you need to make too is, if you if you believe a stock has a high chance of being halted i mean do you really want to be stuck in a halt, some people have no problem with it other people, like myself. Not quite sure but, that's where my mind is at right now, but market officially opens up here in about 25, minutes. Well a little update here it did go down at actually 1275. And below but so i was right wish i could have shorted there although i will fully admit that it did take longer than what i had thought it would, so i was right and i was wrong. Right that it did ultimately want to pull back some more. Um and, but wrong that it took a little while longer but the reason why i did this scalp was this reasoning right here i didn't want to risk this risk what well check that out you know there's people. Buying the breakout of that high right there, right you see how the price spiked up to that area, there are people that bought that, and those people that chose to not scalp it now those people that chose to scalp it there's enough wiggle room there is plenty of wiggle room in that move right there, to make money, if you chose to scalp.

But The people that did not choose to scalp, well where are they at right now, they have had this thing roll all the way back over on them, so that is why i chose to scalp when i did of course in my situation. It kept on moving upwards and i looked kind of silly, but what i was wanting to avoid, was this situation, right here, so i mean those people that did not scalp on that, and then wanted to hold for a bigger move well they're looking silly right now and that just shows the challenge of trading. Every situation, is different every situation. Can be approached in a different way, and sometimes you choose the right method sometimes you choose the wrong method so in this situation, i chose the wrong method i should not have scalped. But, had i done it again, choosing a scalp would have definitely been the right method, or else i would have been trapped in this you know big old downwards, pull back right there so a little example there of, why i did what i did that's what i was trying to avoid, i i wasn't quite sure if that was going to be a true breakout to the upside, or maybe just a temporary, little snap. And. I'm very uh. Very glad i didn't try to take that one all of a sudden for a longer trade because then that would have been a bad situation, but nice little real-time educational, example there. Mark it opens, up here in about five minutes. All right market opens up here and let's see, 30 seconds, and i will be watching dkng. Out of the opening gates, uh very big bear buyers, here, so we'll probably looking too short, if you're a beginner, what do i mean by short that means making money when prices go down so yes believe it or not, for you beginners, people that are just getting started you can make money when prices go down of a stock and that is known as shortine. Being short. Uh you know any variations, of that word so it has nothing to do with how long i hold the stock it has to do with the, the ability to be able to make money if prices go down so that's what i'll be looking to do here because i think dkng. Here, is going to want to drop so let's just see how this first minute opens up, and again this candle we're watching here is just representing, the first open or the first minute excuse me of the day. There is a lot of kool-aid out there on this one so i could see a break of 53, creating a pop to the upside. Problem is i don't know if i trust that analysis, of my own on or not because there is a lot of downwards pressure but i could definitely see a break of 53. Creating like i said a scalpable, opportunity, to the upside, but right now just letting things play out here. Well getting up to 53, let's see if. I would have been right or wrong there. So it got through. And yeah. Glad i didn't really take because that was that was pretty weak. There we go okay. Good i want to see some strength. Here. Let's see this continue to move upwards. No i i don't want to just drop right on this next candle there's that's nothing i can work with there. But maybe if it can stay above 53, that could be an opportunity. Let's see this thing get. At least up here to around 53.50. Oh wow that was a crazy wick. That was basically a fat finger. Trade right there, what's going on with, peck. Wow not halted. I thought for sure that thing would have been halted. But maybe the halt is coming or i should say halted by now. But yeah all over the place right now, oh wow tesla nice, nice uh move here. All right well i am going to go ahead yup here is probably coming where. Now looking like it's got a chance at a halter. But. Just a crazy, crazy, opening, period let's go back to dkng. Though let's see how this one's taking shape. Yeah i suppose 53, is that level. There we go i like this move here, okay i'm gonna get that alerted here. So dk. Ng, flush, point. One minute, at. 53.. Good yeah i would like to see this candle bounce up some more. And then come back down. Good. Now let's see it come back down after this movement. But to be fair maybe this is a actually a legitimately, strong move that's always a possibility.

So I'm going to keep a close eye on that but yeah as of right now dkng. Showing some strength. Okay maybe a sooner spot now up around 53.50. If this thing wants to keep on moving. If this thing can get up closer to 54, i'm gonna update it, in the room here. So. Edit. Update. 5350. Flush point. In at. 53.50. Let's see if we can get some movement to the downside, here. Well it started. To. Now it's back up here a little bit but let's see if we can get some more follow through to the downside. I'm in a very nice little setup here. But it's got to pull back some more than what it has. There we go. Oh 5340. Does not want to give itself up. I'll give it one more chance to get down through there. But as of right now it's not looking like it wants to play ball. See what i mean watching those level twos 53, 40 that area does not want to give itself up there we go. Can we get a bigger no look at that right back. So taking some out of the position there. Still have 200 left, in the event i'm wrong and this thing does ultimately want to roll back over, i'm still gonna be able to make some money on it but. Uh, that's just not. At all. What i was looking for so if this thing goes up over the. 53, 85, mark i'm just gonna use a mental stop and get out. But as right now a lot a lot of strength in this thing. Like i said i hope i'm wrong. And if i'm if i am wrong and this thing wants to roll back over i still have. A position. But it could still be a losing trade. But the losing trade at this point well there we go, kind of again 53, 40. what i'm watching is this number right here 5340. Just doesn't really want to go away see how fast it got right see look at that. It does not want to give itself up. Hopefully i'm wrong hopefully this thing once all of a sudden. Cruise to the downside, but right now. That area, is oh so stubborn. Maybe finally a break here, no not really that fast right back to 53. 40s. You got to think that if that 53. Let's call it 5330. Can actually fail. Then this thing could. Could make a nice move to the downside, but i think that's a pretty big if at this point if that level can fail. Have you ever had one of those situations where you hope you're wrong and i hope i'm wrong here i hope this thing doesn't want to, bounce. Let's see can it get there we go. Does not want to push down through that there we go there we go there we go. There we go. All right took out another 100 at 52.81. So now just 100 shares left, and in hindsight. Good old hindsight. But i played that one, perfectly, well. I was wrong, but i was at least self-aware, enough to know that i could have been wrong, so i kept some shares just in case. And what are these lows. Yeah we'll see if it can get down here and revisit, this area down here or not. But at this point it's going to be a winning trade just kind of a matter of how big of a winning trade will it be. It may be a modest, trade here. Just because if this thing decides it wants to bounce back in my face well then that's. Not going to help me out at all but. Curious to see if this thing wants to make another push down to the 52. 85-ish. Mark and potentially get down through there. But i'm gonna do this i'm gonna take another 50 out there, and then i'm just going to go watch some other stocks right now because with 50 shares left, um i i still have you know like i said. A position, here, but it's it's not we're, even if this thing would have just all of a sudden skyrocket, to the upside with 50 shares that's not going to cost me anything so, i'm going to go ahead and look around and see what else is out there actually boeing. Looks pretty good what's going on oh yeah let's see, 163.50.

Got To get that. Alerted. So for those of you members out there that took that dkng. Trade congratulations. Well done on. That. Uh what i'll do is put a stop over, so just so i don't even have to worry about it. 53. 65. Buy, there we go so if it goes up to 63. Or excuse me 53.65. I will be all out, but yeah let's see if this thing wants to break down to the downside and give me some more but like i said, um stop is in, so for those of you maybe not familiar with my screen the way that works is if i get stopped out that, will change from, white to green. So just as an fyi, on that. But all right well i'm going to go ahead and pause now i'm going to look around see if i can find any other opportunities. And i will keep you updated. All right looking like i might be getting stopped out here big bounce out of nowhere. Again if it hits 52, or excuse me 53, 65, i will be out. Yeah look at this big old bounce here. Maybe it'll get rejected back down. But that's the current status. I'll try to keep it. We'll see what is it going to do can 5350. Hold uh oh that's been broken. Well in all actuality. I may be looking to add back into the position if this thing comes back down to that 53. Area because that would be a. This would be a massive, failed bounce here. But that assumes that it actually fails. All right i'm gonna go ahead and pause. All right i'm gonna get stopped out here i think. Got up close, didn't quite hit me though, how high did that go went up as high as. 53.63. So i was in within two oh there we go all stopped out there, so 84. On the trade. I'll take it i'm happy with that especially when you factor in that uh, you know we're 11 minutes in. And, you know my total trade time there. Uh you know especially given this trade right here was a good five second trade in pre-market. Again how do i know it was a five second trade well the uh my. Again for those of you not familiar you can see right there the times. And got in at, 901.05. Out at 901. 10. so literally a five second trade there for that 75, dollars, and then this trade you know took a while. Uh for quote unquote only 84. Uh but. What is that. 53. 65.. I like this. Again. Has another short. In at, 53.67. I love that candle right there. Let's see if this thing wants to roll back over here. There we go starting to move to the downside. Beautiful, beautiful, candle. Not just a question of canning that candle get follow through to the downside or did i just get suckered in. Either way love that setup i will take that setup every single time. So much so that i'm gonna add if this thing gets up over here i don't i don't believe this move is real. At all. Sorry i'm just not. Convinced. If this thing starts to show any bit of weakness to the downside. I'm gonna add. I may even like to add up over 54. But. This is just a beautiful, setup here. Let's see if this thing wants to pull back here. Well try to add some at 53.85. And, missed. It. So that's disappointing. Yeah 5360. That's definitely the stubborn, area here on this. One. Comes back down to that area that would be again another implied, failed bounce, which would be a sign of weakness here. So 53. 80.. See if this thing wants to come down through that level again. To like i said to which i would like to add. Or is this thing just going to bounce that's really the question. A little bit of a bounce there. It's watching 54. Break of that i'm gonna add. But like i said, gotta see it show me some weakness, first. In at 54.01. So now i have a thousand shares at 53.. Um. 53.84. I'm gonna try to take out 500, at, 53.75. Let's see it pull down to that. Area. Like i said i'm just not convinced there's just too much bearish stuff going on right now. I mean another great candle here just takes a little bit of a nudge, and should get going back in my favor. I think that nudge is going to be can it break down through the 53, 90 mark that seems to be the stubborn, level right now. So a break below 53.90. I like the chances that i can get going back in my direction which again because i'm short i want to see go down. So there's 53, 90. can up there's the break.

And There i'm out there for my. 500.. Well that was very weak. So still have 200, same exact rationale. If i'm wrong. Then i just want to get out and i'm going to stop out over 54., so mental stop if it breaks above 54, i got to get out with these final 200.. But again i could be wrong maybe this thing wants a rollover, and i would love to be wrong here again but. That was the move i was looking for. And it didn't quite get the follow through that i wanted to see it get. All right i got to stop talking, watching. When i'm using a mental stop you got to be laser focused. Again if it goes over 54, i need to be out. So just watching. Like a hawk. So these final 200 shares, will be a loss of on the shares these final 200, if i get stopped out here i will be technically losing money on those shares. Okay watching closely. Closely. Ow. Whoops. Did not mean to hit the button there i just took myself out right a penny beforehand, please just break out so i don't look like a total. No. Oh, you stupid, finger. Well i'll let it play out here please just break above it please. For the youtube trolls don't give them ammunition, please, break above 54.. I'm begging. Just break above 54.. Oh no it's still not breaking above 54., this is not. Good. Well let's see, overall. I think i lost, four dollars on that trade, i can't remember what i was at previously, but uh big picture-wise, i think i lost. Four dollars. And i also think i'm gonna be done with this one, not, just getting very choppy here all of a sudden. I got the move. That i wanted, kind of so i mean i was right in my thinking of yeah i don't believe that move meant right there i was right but i was wrong in the sense of that pullback, was just a very weak pullback, it did not. At all you know moved on not that i was looking for it to crash but at least get down to the 5350s. Minimum. And it just did not want to do that and now you look at these range here such a tight tight little small range. Please break about 54.. I don't want to look that stupid. It was like the. See right there the the, notice where i had my stop, above 54, and where's this price been struggling, right at 54.. Pretty crazy huh. Well i'm gonna go ahead and pause and i'll keep you updated if that other. Pec just resumed so peck did finally get. Halted huh let's see. Uh. I could see a break over 12 but i don't know this almost feels just like flat out gambling at this point which is jumpy as this thing is so i'm gonna have to pass on that one, uh but i got about 11 minutes left before i want to be done.

On The morning. For those of you that are maybe new to the channel, been really focusing on being done within 30 minutes. Um, and just taking what the market gives me because hey 30 minutes even if i close where i am right now at 162. I'm not sure many other place in the world, where you can make 160. Especially when things don't really behave the way you want them to, like i said dkng. Just uh, both trades were were just not that great, uh but yet i still made money on them just not as much money as what i you know. Wanted to make had they actually behaved the way i thought they could and but i thought wrong right so and i was wrong about those but that's cool thing when you solve a strategy, you can think wrong, but still actually walk away with uh, with profitable, trades maybe not as big as you thought they could have been but still profitable, sorry, we got about 10 minutes left i'll go ahead and pause. And i officially. Look like a. I, i didn't want to give you this update but it never broke above 50 at least i don't think it did hi. 54, hi oh shoot 54.. And then there's the move. So i, totally should still have 200 shares right now but, like i said my, i don't know my muscle, my muscle i get i suppose, i think i was so focused, that i was too focused then the muscle in my finger spasmed. So i guess that's, that would be a downside, of using a hard or a mental stop. Uh you say clay maybe you should use mental stops and yeah sometimes, mental stops are the way to go but in that situation, literally like the muscle. Clenched up in my finger. Just for that, second because i was so focused. And uh because i thought it was gonna break thought i was gonna break whoops and then got out at, 53.99. And now there's a move in my favor. So that was totally, uh. That's funny. In a sick and twisted kind of way that i'm kind of glad that happened just to show you the bizarre things that can happen as a trader. Um. But yeah. Youtube, trolls, have at it because that is embarrassing, and i have no defense about it. All right i'm probably gonna be i get a there we go, four in at 420. Looking for a break to the downside, here. So if i'm wrong on this one i'm gonna be up on the day right around fifty dollars. Uh but if i'm right i. Ideally can make more than fifty dollars. But that is the current status, of this right now. Is this will be my last trade like i said i think this thing has a chance, to pull back some more. And if it does fantastic. If not. Then like i said i'll be uh, down. Or i'll be up right around 50, on the day, because there's always slippage let's see if we can get this down through for 19.50. I was very worried about that level and so far it's exactly where the price is being annoying, at. Let's see if it can go back down there and retest, it. Again would like to see it down below for 19.50. Before i think about taking in any profits. At least, so if i can capture more of, it down below for 19.50, that'd be fantastic. There we go there we go. So took some out there 50. Shares. Trying for another 25, down there at 419. Which i may have missed that. Opportunity. Let's see though if it can revisit back down to that area. In fact i'll see now that it's bounced if it goes back down there that'd be a failed bounce, so think i could get maybe a little bit more out of it. So let's see if this thing can actually break down through 419, at this point. There we go well that was short-lived. There we go, so it took out another, 25. At 419.. So again this is officially, a winning trade. And this thing can pull back just a tad bit more. Because it is 1001.. I'd like to see this thing try to get down. Well maybe, that's going to be the bounce. Area. All right all out there for uh what was that an 82. Trade. So there we go it is 1001, am i am up 245. And i'm not a greedy savage, i'm not sure of many places in the world where you can make, 240. In 30 minutes now yes clay you were trading pre-market, that's true but again that trade was 10 seconds long. So, all right let's just you know let's go extreme let's call it one hour even though i wasn't trading for anywhere close to one hour 245. In one hour, not many of the places and you know not many place in the world, where you get those sort of returns, but, that's all i have this minute or wow this video is over 30 minutes long but i guess i basically took you on my entire 30 minute journey, um which again.

For Those who may be new to the channel that's what i've been really focusing on the past few months is, working my strategy down to being done after 30 minutes just because at this point in my life, i for young kids i'm picking up other hobbies. Just like i said picked up a bow getting an archery, i just want to go out there, i trade for the freedom i don't trade for the for the mansions i don't trade for the rolex watches i trade just because i want freedom of time, and when you can be done with your day after only 30 minutes, hey i like that freedom of time, so that is why, yeah, i could keep trading i could keep trying to make more money but, i don't know at some point, the money just doesn't matter and i i want the time. And maybe it's because i'm getting older and older in my mid-30s, now i'm realizing, that but that's just where i'm at in life and that's you know why i'm behaving, in the form of you know wanting to be done after right around 30 minutes every day, but if you do enjoy these live trade videos a couple of things real quickly, first off like i said if you're still watching, thank you very much that that means a lot that you're willing to invest that much of your time. To seeing all this but, a few things hit that like button if you enjoy these live trade videos. Questions comments suggestions, leave those down below i'll read all. Comments and we'll reply to them and then finally, check out the channel as a whole, a lot of. Lots and lots of other live trade videos and a good variety of other educational, videos so check out the channel and hopefully decide. To hit that red red subscribe button as i'd love to have you as a subscriber to the channel but thanks for hanging out and uh enjoy the rest of your days. First off thanks so much for watching the entire video real quick before you go, i want to invite you to a live webinar, web class, training workshop, online event, whatever you want to call it but it will be me, live, revealing, to you what i discovered, that has allowed me to transform, myself, from being an employee. To being my own boss, including. How i had only one losing day out of 73, days in total, i'm going to cover three keys that have helped me, unlock, profitable, consistency. Within the markets. The first key is super weird, but in a productive, type of way, the second, key is super awesome because it quite literally, is wired into our dna, as humans, making it very easy to use, but in a cruel way, this becomes a pitfall for many traders, i'll explain it all though, including how to avoid the pitfall, that it creates for some, and yeah the third key when you hear it sounds way too good way too good to be true but it's not and i'll show you, how it all works, then at the end i open it up for a question and answer session that is again, totally, live, even if you can't make the live session, please still sign up as it will be recorded. And you can go back and watch the replay, that i will send you, click the image on the screen or click the link down in the description, box, so you can get the date and time and claim your spot, which i should note is limited due to the fact that this truly, is a live event, if you have any questions. Let me know if not, i'll be seeing you soon.

2020-10-10 05:03

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