Day Trader Transparency: The Cost of Frustration [April 2021 Trading Results]

let's talk about the cost of frustration and do some day trader transparency here uh which is always important and always helpful because in these transparent situations i think that there can be a lot of learning going on although it can be embarrassing although it can be almost like the walk of shame whatever it is what it is i've never said that day trading is easy i never said that i always make money i've never said that i make a lot of money all i've ever said is hey you know what day trading can be a great side hustle but as any wealthy person does and uh you know i would encourage you to always go and research a wealthy person any wealthy person of your choosing and study them like i've done and spoiler alert every single one of them will have one you know more than one stream of income and that'll that'll come up more later on but point here being is you know what i'm a human just like everybody else and i i just want to walk you through my april results because there's a lot of good learning lessons in here and there's a lot of you know kind of different thought processes and and i will say that some of you will probably disagree with how i approach this and i i really do respect your opinion on that um i have mine and i think there's good logic i think there's good um you know variables in place and i i do realize all situations are different but if you do disagree with kind of the premise of where all this started i do actually respect that i i completely see where you're coming from and i'm not even i'm not going to call you wrong at all because i i really do i i see if i put yourself in your shoes and i see the point that you might try to make you're not wrong i think that like i said where i'm coming from uh with the pieces i have in place it made sense to do what i did but like i said at the end of the day it all started from frustration and that's just what i want to get across there and i will say that um and i before i forget that uh april has been a very very just uh tricky garbage uh it's it's just been it's been rough out there that's really the best way i can put it so if you were somebody that just felt like april was a grind you maybe you can't use words to describe it maybe your account is reflecting uh either a loss or just feeling choppy hopefully you're saying no april is a great month for me good i'm very glad to hear that but i will say that there are lots of well-respected traders both in my community and then out of the community if you just kind of look around and you know they they're all saying the same thing which always makes me feel good right because it is always wise to to make sure that you're not the only one feeling a certain way because if you are well then you know what maybe you're the problem not the actual atmosphere but when you look around and you look at like i said from my perspective not only people what they're saying in my community that i offer but just uh you know whatever you want to call the youtube sphere just social media sphere whatever as a whole not that everybody is losing money in april but there was a common thread of yeah things are just they're a little off right now they're not like they used to be and so from that perspective it made me feel good and it should make you feel good that it's it's not just you again if you're like oh man april's been a terrible month it's been choppy it's been off and then you're looking at everybody else and they're like what do you know april's been great i haven't noticed anything different then like i said at that point you might have to look in the mirror and say you know what maybe it's not the market maybe it's just me and at the end of the day i'm not blaming the market i'm just saying that sometimes the markets are a little bit different and it's gonna affect things in a little different situations uh so you know from that point of view if you had a rough april uh then don't be too down on yourself that was kind of a little long-winded where we at all right we're only a few minutes in but anyways like i said that is still all very important because i don't want your april frustrations to now flow into may and think that you know there's something wrong don't let may frustrations flow into the next month here you kind of got to just put it aside uh because you are at risk of you know just having things get worse which is kind of what happened here so to set up the context here are my april results before the last day of the month so if you look at all this and add it up i was up give or take for math's sake twenty five hundred dollars so twenty five hundred dollars already had me feeling a little frustrated now what got me extra frustrated and this is not a frustration where i'm playing the victim card or anything here but was on that day right there where i lost 1200 and the majority of that came from an after hours trade that i made on amd and amd uh and like i said not playing the victim card i knew what i was getting myself into earnings plays uh meaning trading it after hours can be very sketchy so it's not like i didn't know it's not like the market makers did anything no no i knew what was going on they were going to release earnings and i was going to try to play a nice setup and i played this setup and it was beautiful it was totally going in my favor and maybe if you watched amd after hours you'll know the moment i'm talking about the price started to come down i went in the green and i'm thinking boom good i was up like i don't know let's call it 750 800 somewhere right around there and i'm thinking this is fantastic my what i was willing to risk compared to what i was getting was actually a little bit more and i hit the button to exit and just like that boom amd literally literally just whoop the other direction again i'm not blaming amd i'm not blaming anything like that i knew what i was getting myself into and that's part of earnings what things can change so fast now things can go in your favor very very quickly too which is what i what what i thought was happening and what was happening but you know what sometimes it just goes that way and it went that way and that uh you know that 700 800 win whatever it was uh what that i thought i had that i was literally when i was i could feel in my mind like okay finger press the button oh this is great this is great this is really going to help out april and oh then all of a sudden i'm looking at and yeah i think that was like a because it was a day that was very choppy anyways but it turned out to be over a thousand dollar loss when i thought i was gonna get out for a good solid gain so that started the frustration but the one thing i did do right there is i knew generally speaking how much i was up because i don't like to track every single day and know how how i'm up for the month just because that plays too many mayan games with me but i did know that from a general perspective i was green i could risk right around what i thought i was and it would be okay and then boom all that happened which i was okay with but it did create that frustration right especially when you're looking at a great gain and then in this situation literally i wish i would have captured it on video but in a blink of an eye went from being what i thought was up to being down just like that so that happened and then the next couple of days you know to pat myself on the back here a little bit because i'm about to start not patting myself on the back but whatever just you know went back to it went back to grinding 500 bucks 270 bucks whatever uh and then it reached the point where i was like you know where where do i stand on the month because the last day of the month and i've done videos on this it's always important to know at least where you are within the last couple of days because you don't want to go do something and then totally wreck your month you don't want to go and give back all your gains so it is always smart to know where you stand so that going into and maybe for some of you want to do this the last week of the month maybe some of the last couple of days for me in this situation is like all right where do i stand where am i going the last day of the month because i know april's already been a chop fest and at that point i was up 2 500 so i'm thinking all right well and this is where the frustration starts coming in i can understand if you disagree with me but in my mind i'm thinking you know what this month it's been such a i don't want to say wait but in my mind it was just like this is just like what what's going on like i i've it's been just like pulling teeth i'm up 2 500 has this even really been worth it you know what i'm going to take on some more risks let's just and i don't want to say go big or go home because it wasn't a go home but it was like you know what i'm going to take on some more risk and you know what as long as i can close up a thousand bucks then great because who cares i mean it's already been a a crappy month ever anyways it's already been a teeth pulling month anyways so if i if i can walk away with april up a thousand bucks great because i know a lot of other traders out there are actually going to have a red month which is true a lot of traders again a lot of good traders and they're the type of traders that say yeah a red month rarely happens i mean it'll happen every now and then but doesn't really happen too often well april is like the month that those traders are red because it was very challenging so in mind i'm thinking well you know whatever if i can still close up a thousand then at least i'm still green not much but you know so what does that give me well and not to insult your intelligence but this is this is something i want you to learn is whatever you determine that number to be and wait but you may be saying clay that's terrible logic why you're just going to take on more risk because you and like i said maybe but at least this was controlled risk at least this was controlled frustration if you will and i'm thinking all right well if i'm up 2500 and i want to be able to at least still be up a thousand what does that give me so if i want to be able to at least still be up a thousand well then that gives me what that gives me fifteen hundred dollars worth of risk right you do the math that works out there so i knew going in that you know i'm willing to take fifteen hundred dollars worth of risk and i i realize why are you taking on so much risk well because i knew that even with that amount i'd still close up a thousand dollars and in my mind i'm still considering that a victory given how crappy of a month april has been so that was my mindset going in the last day i got 1500 of wiggle room let's just take on some additional risk let's see if i can really you know get this 2500 number maybe even up to over 5 000. and worst kit or like i said best case i'm up over five thousand worst case i'm set up a thousand on a very very challenging month so let's go on to the next day and how that played out and here is the final yeah let's see the screen i'm just checking making sure that everything is showing like i want it to show uh you're seeing yeah but here is the last day of april lost 2200 but let's walk through this now again i would argue that up until this point i've done everything right i realize you can make the argument well no clay that's not true because you let frustration cause you to take on more risk and that is true but i would also and i understand where you're saying and i'm not saying you're wrong but just to counter that i would say yeah but what happens if i was showing these results and i'm see now i'm up over five thousand dollars which was a very real possibility with what i was structuring what i was trying to get underway that could have that could have played out like i said maybe you would still say no clay you're still wrong you shouldn't have let frustration affect you that way and again but i would say that hopefully we can meet in the ground that you can say but clay i still think you're wrong but at least it was controlled frustration at least it wasn't just well let's go no no you knew you had an amount you set and you let all that so like said hopefully we're on the same page there we can at least find that middle ground however if you notice that very first trade i took was twitter earnings thinking okay this is great i thought it was a very obvious setup i thought it was a very uh i mean you can never say guaranteed set up but i was like all right this is what i'm looking for twitter had earnings there's a lot of volume there's a big gap down this is i i'm liking what i'm seeing and then ultimately lost let's just call it eighteen hundred dollars on that trade now this is issue number one this is mistake number one on my part is i i i let it get too far out of control by how much we'll basically buy about 300 right because my amount going in my wiggle room was fifteen hundred dollars but i took a loss of eighteen hundred so that that's on me not blaming i let things get too far out of my control so lesson number one i want you to walk away is if you have some sort of idea or number you know what honor it because this is what i i'm not going to say will happen to you but as a human being as a fellow human being as a fellow uh you know halfway rational person uh that you know feels emotions and stuff like that for me it's okay good job you good job you you said you wanted to close up the month a thousand and now you're down at give or take right around 700 bucks good job idiot idiot i mean clay you gave yourself 1500 and you couldn't even work within that what are you doing all right well i you you got to have a thousand dollars clay but the good news is clay you only got to make like 300 bucks okay you can do 300 bucks so and you notice what just happened there i am now starting to justify what justify continuing to trade even though i've already violated the one rule the big rule meaning i should have been done because at this point i'm not mentally stable anymore i'm frustrated with myself i'm irritated so at this point i'm not proclaiming i'm not making an argument that i did anything right at all okay not saying i did anything right at all well i i guess i take that back i take that back the one thing i did right was i lowered position size because i'm like okay clay you definitely don't want to go red on the month that would be not good for your mental you know okay your mental statehood at all going into may so the one thing i did do right is i lowered position size and good thing i did good thing i did because you look over here at tesla there's a bunch of trades now lowered position size um and you know therefore you know you scale out and stuff like that but i took a lot of trades on tesla trying to get that 300 back and you'll notice closed down 438 on it now at one point it was a tad bit more than that so i mean it's not like it was all losing trades but it was just up and down back it was terrible trading why well because i was never in a good mental state anyways so but at least at least by lowering position size that didn't have like uh you know a you know the decimal place moved over but what did i do well now i made the day even worse i made the month even worse and it all started with me not honoring not stopping where i should have stopped it all started with me i suppose being frustrated but like i keep going back to the yeah but if i was hitting her up five thousand dollars i don't think people were like well you shouldn't let frustration you would have said well good job play with that controlled frustration because you were able to catapult that into more win uh but like i said at this point like i said and this is one thing is i mean i want to say if you're feeling frustrated if you're feeling uh lower position size well no if you're feeling that way stop trading so i mean like i said i'm not justifying any of this by saying well at least i lowered position size so you should no no i shouldn't have traded at all but if i did anything right and if i did anything to help save my month it was by lowering position size because you saw as you see here 62 total trades absolute chop fest and still was down that much and it could have been a whole lot worse had i just either kept normal position size or worse yet scaled up position size wow that could have been a that could have been really really bad but do you see how things just can spin out of control and in all actuality i should have just been done after the twitter trade i was but it's hard right you you set goals for yourself you set limitations and then you mess up and then you're upset at yourself and you feel like the medicine the remedy is well let me at least get back up to that number and that's such a nice little convenience that the evil voices play is okay well clay yeah but you can make that up and after you make that up you'll feel better about yourself yeah but you're not in the mental capabilities to stay laser focused and to honor the market and respect the market like you should and then ultimately let me bring up the total monthly results which equate to i i was supposed to be up a thousand dollars 391 dollars now i am still actually relatively happy about that because as i started already there was there's a lot of traders out there that actually had red months in april so i'll take the green month um but should have been a thousand but because like i said the cost of frustration that frustration spun out of control on me and i ended up not not being at my goal of a thousand dollars and that's uh you know it is what it is uh but i'm not gonna hide the fact that i kind of lost it at the end of the month there uh but and like i said it's and another thing i wanted to be circle back to this is why why was i willing to just say you know what i'm going to take on bigger risk it goes back to the whole thing about go out and study wealthy people and this is one of the reasons why i believe and i don't have any scientific facts on this but i think just me thinking through it from a logistics standpoint from a logical standpoint is i think wealthy people just build so much wealth have so much control is because when you have multiple streams of income which is what they do which is what i teach around here which is like if you come into my chat room community and you're like i only have one stream of income i want to be a full-time trader and that's it you're gonna you're gonna get bombarded with encouragement saying no no what no you don't wanna do that you wanna you wanna have multiple streams of income because when you have multiple streams of income and like i said this is just my theory you might disagree and you very well could be right but to me it makes sense that wealthy people get wealthier stay wealthy because that when you have multiple streams coming in from other places you can take more risks right amazon for example has all sorts of streams of income so they could take the risk on their their phone right who remembers when they tried to do that phone a few years ago failed miserably but you know what it's not like it blew up the company it's not like it blew up them or anything like that just like that loss or that risk that i was willing to take going into the month whether you're not agree with the the psychology behind it and this is one of these variables that i'm i'm saying is because within my personal finance situation and as i've talked about before you know i'll put the link down below about my nine streams of income i have other streams of income so it's not like this was totally oh man time to time to take the risk with the rent money time to take the rent and if i'm not right well kids it's bread and water tonight nope it was not like that at all my personal situation allowed me to take that bigger risk that again could have had me up over five thousand dollars so i think that's why wealthy people or one of the reasons why they build so many streams of income because when you have multiple streams of income you can take risks now they need to be calculated risks and that's what this was right it was a calculated risk and i'm still i would still be up a thousand dollars and then of course i i failed with that a little bit uh but i did do some things right but the point of being is it's not like it was just some risk in the sense of let's go to let's go to las vegas no no no i thought through it i i lost control of it a little bit then i lost control of it completely as i kept on trading uh but the pointer being is i'll still be okay right my family uh i don't know maybe you consider domino's pizza last night bread and water but we had domino's movie night you know my world my my life is still okay so if there's anything else where we have time wise almost 20 minutes well if you're still here right now i guess you're probably in join the talk but i'm not trying to run i'm just speaking my mind this is more of a a almost like i'm using you as my psychologist here but uh this is why i would encourage you as always uh and why for me i can trading is just a side hustle right i'm always saying it's a side hustle because that's what it is i have all the streams of income and i'd encourage you to build other streams of income that's why you're not sitting here you know tight you know white-knuckled saying oh i got to make money i got to make money i can't pay the gas bill this month because all my income is dependent on trading alone no don't do that have multiple streams of income not only does it build peace of mind not only does it you know allow you to hedge risks in different ways but allows you to take risks in certain ways like this situation here uh so that is how my april closed out um up 391 dollars and uh a lot of learning lessons here did a lot of things wrong at the end of the month uh but i i'm not gonna beat myself up totally bad because i was still at least wise about the frustration i acknowledged the frustration i tried to control the frustration lost a little bit of control and then tesla yeah that was not good but all i can do is laugh and say i'm glad i'm glad i lowered position size because i was like a little chicken with a tub cut off trading tesla just trying to try to get that three hundred dollars back and it just was not happening but just wrap it up um again if you had a rough uh april if you were red if you were barely green if you felt like it was pulling teeth maybe you didn't hit your uh monthly goals uh hey you know what from what i can see you're not alone not only just because of my solo data point but because what i've seen out there in not only the chat room uh but you know the atmosphere of uh you know twitter not twitter but just social media youtube uh there's traders that i would consider good solid traders that maybe didn't necessarily have read months but described it as being like yeah april has been a goofy goofy bizarre month so just keep on fighting and don't let frustration spill over like i said for me i'm just happy it was a green month now yes and the voice in the back yeah but clay clay it should have been a thousand dollars you got you got to get back on pacers to start off may you got a little bit no no i'm not gonna listen to that voice may is a new month i'm glad i was green for april that's my mentality called a justificati it is a justification right i'm literally tricking my mind into saying hey you know what that's okay because at this point there's no need to try to play the games of okay well clay technically you closed up basically 400 so that means that just to get back to that thousand you got to kind of create a little bit more in early may so you can make up that 600 and put no no no i'm not gonna listen to that voice that's just got all sorts of bad habits and stinginess written all over it i don't want anything to do with it i am starting off the month saying you know what i was green and you know what even if you were red in april i want you to start off amazing but i'm not alone right it's not like i'm the problem now you could be the problem if you're just running around like a chicken with a ted cut off because you don't have any sort of true strategy so that may be a possibility but if you're somebody that's like i don't know what happened i've been green i've been green i've been green and all of a sudden this you know what it it's okay may is a new month just got to start it over and you know kind of wipe the slate clean so uh you know that that's kind of how i would advise approaching may is you're not alone it's been it's been bizarre but it is what it is so hopefully you found this video helpful if you do enjoy these where i don't even know what kind of video to call this uh i share my results i i just rant i just come i don't know i don't know what kind of video this is but if you enjoy these kind of videos uh two things that you can do here to communicate that to me hit that like button and then in the comment section below just leave a uh emoji really i mean a comment would be great but even if you don't want to leave a typed up comment you can leave just a thumbs up emoji or whatever but uh those two things communicate to me that hey clay i enjoy these videos make some more of these in the future and then also check out the channel as whole i'm not a big fan people say hey subscribe to my channel even though you've only watched two minutes of it i won't say that i will say hey but if you enjoyed this video a lot of these results here that you see are spread across the channel um and you'll see some of the good days some of the bad days and um unfortunately i didn't capture the last day when things spun out of control because in my mind i want to be laser focused and those live trade videos are not easy to make um because there's just so much going on and they are truly live so i know i didn't capture that on video but like i said a lot of these results you can go to the live part or live trading part of the playlist on the channel and check those out but pointer bean if you like what you see from the channel perspective at that point of point in time i would love to have you as a subscriber to the channel but get out there learn from my mistakes uh but at the same time just realize april was a bizarre month so if you were even one dollar green seriously well done you did better than a lot of other well-respected traders out there so may is a new month and i just got to get to it 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

2021-05-06 21:28

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