[LIVE] Day Trading | -$2,000. Ouch! (how to NOT day trade)
Hey, 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. Market is now open and real quick, what do I mean by live? What I mean is that this is not a situation where everything's already been recorded and now I'm coming back and doing a voiceover post commentary or something like that.
I'm recording myself, seeing the information for the very first time. So if you want raw thoughts, raw emotions, raw reactions, you will get that here. But if you want a nicely edited video, nicely scripted video to honor your time, you're not gonna get that here, but if you just want a nitty gritty look into what it's like to be a day trader, then you're gonna find that here and I'm watching, and I gotta be careful I don't miss it as I do the intro. 699, let's get in 699.12 looking for this to get moving
to the downside here. So there we go. Well, that was a very temporary spike to the downside.
I should note that I've already made a trade on BTX. I thought I was recording, but I wasn't, I never got the soft tour, I never hit the button that I thought I did. So long story short, I've already missed my first trade. Didn't miss a whole lot on it. It was, you know, 50 bucks on the trade.
But might be starting off here with a loss. If this thing does not want to come back down, I thought that thing was really getting ready to, to make a move to the downside. Well, there we go. Now it's starting to come back down.
Okay, Well, I love that candle quite a bit. Now it's just a question of, does that candle want to ultimately play ball or no? Maybe not because now it's going right back up. Let's see if it wants to pull back. What oh what does this want to do? 700. Now that's the stubborn level. Can it break back below 700? That is definitely the problem area right now, for me, 'cause I'm short it means I want to see this go down.
If it can break 700, I think I got a chance for a profitable trade here. Okay. All right. There's the break. Let's see if we can get it.
Oh, my that's a big size right there. I don't like that at all. Okay. It got chewed through.
See if we can get some more momentum. I took off just 50 shares. So this could easily, still be a losing trade.
Can it get down through 698? Took off some more. All right I'm just gonna go with 50 shares now. I feel like I've given this thing plenty of time to make the move.
It's not made the move. All right. So $191 on that trade. Disappointing. Love this set up. Started to break down. It's still may break down, but that hammer candle has got me thinking this can then could reverse back around.
Let's go look at BTX real. Well BTX has halted. Okay. And all right, well, there we go. Got close to getting potentially stopped out there on Tesla, but you know, I knew where I needed to wave the white flag, gave it plenty of time for me to make a move.
It didn't make a move, but it just didn't get quite the follow-through that I was hoping for, but that happens. But let's see, let's see I'm up $240 so far, but let's see what else I can find. All right, what I'm looking for here is for Tesla to get up and hit that yellow line. Best case, get up above it and then start to come back down.
That being the V web so you can see it's touching it right now. I would like to see it get up through. We need to get this alerted or updated to for members.
Let's see Tesla update 693 dot. What is that actually? 693.50 50 new flush point one minute. So if you're not familiar, whoops, I didn't even show that. I thought it was in the screen. There we go. So just typed that in the room right there. I do offer private community at this site.
Like I said, for me, I want to see it get up above that yellow line and then come back down. And maybe I'm being a little too picky. Maybe I'm being a little bit too high maintenance on it. But that is what I would like to see.
So step one. Get above the yellow line. So we'll, let's call it 696. Get above 696.
Step two, come back below it. So I'll go ahead and pause now and if it looks like it'll at least break above it so we can see step one underplay or underway, then I'll get it going again, so I'll pause for now. Well, my plan did not work out, but what I threw out to the chatroom, which you saw before everything happened, you can see is working out beautifully. I alerted the 693 area, it's since gone down to 692.
So 692.15 ish. So it has already made a dollar plus move in the downwards direction with maybe more. But yeah, unfortunately for me, like I said, I suppose I was being too, not supposed I was being too high maintenance, but sometimes it can work out to be a great setup, high probability setup, but it just didn't work out here. It didn't happen.
And yeah, in hindsight, I should have taken kind of my secondary alert that I thew out to the chatroom there and look at this thing go. So congratulations to those of you members that watch us, watch these videos and that took that alert, well done to you. What's going on with P I N S here? Not a whole lot. All right, I'll go ahead and pause. I do you like 691.50 here. And I'm in.
691 big, big level. Wonder if it can break down through. I'm hoping for and expecting big things. No pun intended.
There we go. Oh wow. Snap right back above there. Well that's worrisome.
This could still very much so be a losing trade 'cause I only took 50 shares out. Yup. Uh-oh. Wow. What a spike back upwards. Let's see if this thing wants to chill out a little bit more.
Wow. Well, I got to just get out. Well now I'm down $400 on the day. Look at that. Well, that's just the nature of the beast sometimes.
Wow. All right. Well, let's see. Let me see something here. What is that low? 695? This is the setup I was looking for before. In there at 695.22.
I think this thing ideally wants to roll back over. Now maybe not come all the way down to 690, but at least give me, give me something to work with. So there's what I was officially looking for. The break above that line. Let's see if it comes back down. If it doesn't then I just got suckered in again.
The crazy part is this, the markets right now were dropping, which was another reason why I took that. See the notice of markets, totally rolling back over and Tesla doing the exact opposite, which is just not a good, which is just, yeah, not normal, but that's also an example of the markets offer no guarantees. Well, if this goes over 697, gonna have to take that, take another loss on it. Got to get out. Well, now I'm down $900 on the day. Brutal, brutal move. Wow.
That's a shame. All right, well I'll go ahead and pause, but that's how quick things in the market can change. I mean, I, in hindsight, Clay, why don't you just take off all those shares down there at the 691 mark when you got that here, you're absolutely right. I should have, that would have been a nice little small skelp but I thought it was gonna be going a lot more in my favor. Gonna go there at 690, I still, I'm still bearish. I still think this thing wants to roll back over some.
I really do. This seems like it's just an overblown movement here. Well maybe I'm being stubborn wrong right now. (indistinct) Like I said, yeah, I feel like this thing still. Now the key break, the truth moment is down there at 695.50.
So that's really the ultimate level that is gonna dictate whether or not this thing really has a chance of pulling back some more or maybe this is just gonna go through a healthy consolidation. So I'm not gonna be getting excited at all until this thing can at least get down through 695.50. But as of now, it's kind of just not a huge range.
So I'll go ahead and pause for now and if this thing looks like it might be getting down towards the point that I'm looking at, I'll get the video rolling again. Now this set up here, let me draw it out. It's truly amazing. Love this set up here. And then let me get that. There we go. So rough drawing there.
Nice little ascending triangle here. And in there at 67.50, looking for this thing to get up through 70. Love the setup, it's just a question of, will the setup play out? So I will pause.
I'm not gonna make you sit here and watch through all this and I'll keep you updated. All right. It's making a move somewhat and 68's still gonna be that first big battleground that needs to be cleared up through. But if you can get through 68, which I do think it's got a really good chance of, then I think this thing could really get moving. Okay. Knocking on the door of 68, kind of. Hmm. Maybe not this time.
It looks like we'll consolidate out once again. So I will pause. All right. It's work, well, it thought it was gonna get back up to a break of 67 and take it up to a potential battle with 68. I'm not gonna say break a 68, but a battle, but we'll watch it a little bit here because it's getting interesting. So step one, gotta be getting up up through 67 based on what the level twos are doing here.
If it can get through 67, I like the chances that it'll at least get up to 68. Now again, will it break 68? Well that remains to be seen. All right. I'm gonna go ahead and pause.
All right. At 67 and struggling. So that's not good. I mean, I love the setup, so pretty it's just a matter of, is it gonna work out or isn't it? Okay. There's the K coming up on 68. Okay, got the break.
Can we get some more momentum here now? Encouraging to see 68 was broken. 69 though. Another key level. Right there. So if it can get up through that green line, things should go well.
There we are, nice, still at 50 shares left. And all out there for $2,000. Got the break. Fantastic. And wouldn't you know, I'm up $58 on the day.
And that's what you got to do. If you see a good setup, you take the setup and I mapped that out. Took a little bit of patience, worked out well, And I should still have 50 shares. I must have. Oh, I see what I did.
All right, I remember I do remember now, so that actually wasn't a mistake. I did type out 450 to get out at 71.50, but for a brief second there, I thought I had only done 400. So I thought I would still have 50 shares left in case it kept going up, but hey, you know what? I am actually quite happy with that. Given I was down quite a bit more than being up $58.
Well, I have a confession just was, have been reflecting on it a little bit and I need to be brutally honest with myself. And so that I can just learn. You can learn not necessarily that, so I can learn so I can just call myself out. 'Cause that's part of being a trader is you've got to call yourself out, but that was now that, that was a great BTX, was a great trade from a technical point of view, mapped out that pattern. Just beautiful pattern, beautiful setup while nothing's guaranteed to happen. I mean, I really, really, really liked the chances of that playing out the way I saw that it could have, however, that doesn't excuse the fact of the general context of things.
And the general context was I had three losing trades on Tesla and I have a rule or, I'm actually looking at my, the YouTube calendar right now and when, okay, so there's a video coming out that'll be out after this video, I'll be talking about a rule that has allowed me to survive the markets. And I'm not gonna spoil that video for you. I got to build a little tension, right? But just know that I violated that rule.
And as much as I liked that setup, as much as that set up was beautiful, had it not worked out, which was a possibility, even though I loved it, even though the probabilities were in my favor, that doesn't mean that they were probabilities highly in your favor is not the same as guaranteed. And it was not guaranteed. And had it just not worked out, then I would have added, that hole would have been from $1,900, you know, to over 19, yeah, so it's basically over because I've either been yeah, at least 3000 and I shouldn't have done that. And I'm asking myself, why did I do that? We asked the setup, played a role. There's no doubt about that. It was a good setup, but why did I actually do it Clay? Well, you actually did it Clay, because you didn't want to post a $1,900 loss on YouTube.
'Cause I, 'cause in the back of your mind, I hit the record button. When I hit that record button, that video was going out and for you long-time viewers you've, I know I even have some videos out there where I don't even take any trades. So it's like the, I say, live trading and then there's no trading then going on and then click bait, click bait, because they're like, well, yeah, but I, because it's live, I didn't know that there weren't gonna be any trades, but that's kind of point being, I hit the record button.
So in the back of my mind, I'm like, oh crap, Oh crap. The trolls are gonna be out on this one. The trolls are gonna be out and I get it. I'm aware. Clay. I can see you typing, Clay, man.
Why are you letting random strangers on the internet play mind games with ya? It's like, you're, you're so right. And I have definitely gotten a lot better with it over the years, there's no doubt about it, but, and it, sorry, I'm I'm, I'm watching. Notice how Tesla, now it's rolling back over. But anyways, I, that played a role in it. So it was kind of a combination of, oh great. I don't want to post a $1900 loss. Holy smokes.
Look at this beautiful high probability set up that could potentially get back my gain or get back a large part of my gains, if not all of them. Okay. Taking it. But I've, I've already violated, I violated the rule and the rule is put into place to prevent from what I just did. So with all pieces of the puzzle, being factored in a BTX was not a good trade.
And it was one I should not have taken, even if it was a high probably set up like it was, even if it was a beautiful textbook pattern, like it was based on the rule that, like I said, that it'll be coming out and well, I'll tell you the rule three losing trades and I'm done. And why that's the case? What it reveals the psychology behind it, kind of the dynamics. I won't go into that because that'll be the video that comes out soon, but the rule was, not in and not three losing trades on a particular stock, not three losing trades in a row, just in a day, three losing trades, you're out. You're done. And I had three losing trades on Tesla.
There were three losing trades. And I think I might've missed one. I don't know that for sure. Again, I, my, yeah, I, I might've missed one. I don't know. And if I did, I apologize, but down here, there are three losing Tesla trades that played out. One, two, yeah, three.
So I should have been done after that and then came BTX which again, that's great. I'm happy, but that's very dangerous. And that could have just, that could have been not a good situation had, you know, the probabilities not worked out in my favor and I'm kind of rambling, but I'm also, I'm kind of using you as my soundboard also because I do use these videos as also kind of a video diary a little bit. But like I said, I know I can sit here and I could have sat in and be like, see boom, yes, but it's like, no, no Clay, you know, you know that you violated that rule, you know that you had three losing trades and you should have been done, but you took that trade.
And it's all so easy. And I'm saying this because I want you to recognize these voices too, right? It's easy for the voices. The voices show up and try to justify the rule break by saying, yeah, Clay, but you broke it with a beautiful setup.
It was high probability. And what do you complain about? It worked out like you thought it would and that's, that's a very persuasive voice, but there's still that voice that you better listen to that says, yeah, Clay, but you have that rule of three for a reason, right? You, there's a reason over your years of experience that have said and dictated why you should have that rule in place. And it's like, yeah, you're right.
And that's the voice that, you know, the voice that you want to suppress is the one that you gotta be listening to. And that's what I just want to disclose to you. So really just a terrible day of trading. Tesla. Terrible day with how I reacted.
The trades that I took, even that Tesla one that just totally snapped back against me, that thing. And even the second trade I took, I mean, even the third trade, I just couldn't get the timing right. I, this isn't real. This thing is gonna roll back over.
It's gonna roll back over. And again, I was right. It's rolled back over quite a bit actually. But again, that's the problem with trading.
You can be right, but actually implementing your general thought process to a money-making process well as you saw there, it didn't work out for me because I kept, my timing was off. My timing was off. So I'm not gonna say any of my trades were wrong in the sense that they didn't make any sense, they didn't make sense because my overall idea was right, they just didn't make sense in the sense of, well, my timing was off. So while I'm rambling, but this is actually the real stuff that matters as traders. I realized me, you sitting here put, oh man, I just made $20,000 in a day. It's like, okay, that's cool.
But I mean, what, so, you know, even right now, I'll be honest. The voice is like, Clay, take that short 695, but no. What are you talking about? I have three losing trades. I am done for the day. And I don't care if that works out or not.
That's another, I like, I find that very interesting, but I can't take that trade. It violates the rules and I've already violated them once. So it started off fine. But after that, yeah, it was, this was not a, a good day of trading. I'm pretty disgusted with myself. And I just want to be transparent about that.
There's many ways that I could be twisting this right now to just make myself look pretty cool. Like, hey, see, all it takes is one, right? That that's the voice that I could be trying to throw at you with. See, all it takes is one trade.
Well, yeah, but what happens if that one trade, first of all, wasn't even a good trade and yet worked out. But I mean, there's just so many different leeways here. So it is what it is. I get it. And sometimes when you break your rules, there can be a slight, slight gray area, but this was not like, is there, there's just, you got to stay away from the gray. And you know, it's always kind of a fickle situation. All situations are a little different, but in this situation, this was not good.
Shouldn't have taken that trade. I should have, I definitely needed to follow the rules. And you know, now I'm still on here a little bit 'cause I'm trying to see if that 695 break would have been a good trade.
Right now it's looking like it was a good trade. It's down 50 cents. Down a dollar. I don't care. I don't care Clay.
I, you can't care because that would have been a, a breaking of those rules, but, well, I'm gonna wrap things up here. And before I do a couple of requests on my part, first off, do you do you, and I'm genuinely asking from a feedback perspective, do you like these videos? I mean, I realized I just spent the past, what was that like five minutes or so, Maybe even more. I don't want to say ranting, but just kind of using you as a soundboard. Do you like that? Is that self-indulgent is, should I just not even worry about sharing that sort of stuff? I mean, it helps me, but, and I would like to think it helps you, but maybe it doesn't. So let me know. Do you like those little, I don't even know, like, almost like you're my psychologist type thing.
You're my shrink. So I don't want to say rants 'cause I wasn't ranting, but you know what I mean? Like the past five, six minutes of me just doing whatever you wanna call it, did you like that, or should I just not do that? And then also just as far as these videos as a whole, if you do like these live trade videos than two things to do because they are live, so they're not easy to make. I have to think for myself, I have to trade for myself.
I have to make alerts in the chat room. I have to think about the alerts I'm gonna make in the chat room. I have to execute my own trades.
There's a lot going on. And although I've been doing them for years, they don't get any easier, but they're doable. But I just want to make sure that I should keep doing them and use my time with them more because I don't want to, you know, I don't want to not use my time wisely. So if you do enjoy these live trade videos, hit the like button, leave a comment and the comment could be emoji. So I don't need some sort of paragraph.
I don't need you to even say, thanks. Just a thumbs up, a smiley face emoji, any sort of emoji. But those two things communicate to me that you do enjoy these videos quite a bit. So overall up, I was actually looking at it. What am I officially up? Let's see here? Let me bring this down. Let's see. I'm trying to, there it goes.
Is that on the screen? Yeah. Up $34 on the day after commissions and all that. So there we are, not a good day, not because of the monetary amount, but because of what we've already talked about. So hopefully it learned something, hopefully this wasn't too self-indulgent, but it is what it is. Although, like I said, if you do see the, that pattern out there and it's on a, it's kind of hard to explain, but that's a great foundational pattern to build other things from. I mean, you gotta take that trade.
It's, it's not guaranteed to work out, but you got to like the odds. So thank you. Take care. Thanks for hanging out and thanks for, thanks for listening.
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 have 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 gonna 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 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.