[LIVE] Day Trading | How to Protect Your Profits (Weekend Withdrawal)
Hey it's clay at claytrader.com. This be a live trade video where i try to capture some of my trades as they play out live, a little background here real quick in case you're new to these videos when i say live what i mean is this is not a situation, where everything has already been recorded. And now i'm coming back and talking about it or doing a voiceover. Nothing like that i am recording myself seeing all the information, live for the very first time, so if you want raw thoughts raw emotions, raw reactions. You will get that with this video if you want a nicely edited video nicely scripted video, you will not get that with this video, now a little difference here is that, well first off i'm going to put this in my weekend withdrawal series, so you're going to be watching this on a saturday. And i realize the marks are not open on a saturday, but you know kind of playing, on the joke when, day traders what are we supposed to do with our lives over the weekend right the markets are closed we start to go through withdrawal but here there you go now you have this to hold you over from the withdrawal. But i also want to bake in a little learning lesson here because as of the recording of this video. It is the end of the month, and as traders. And you know maybe this won't mean as much if you're a beginner, but just, please. Talk to traders, myself. We've all been there where it's the end of a week. Or an end of a month. And then you go and do something stupid you get greedy you just do something you shouldn't be doing, and then all of a sudden, your week or your month is much different than what it had been in a bad way, and i want to prevent that, i want to make sure that my november, is a good solid month, i want to make sure that i don't go out there do anything stupid that's going to have me sitting here saying. Hey good job clay. You just ruined your november, or, wow clay you just put a big old dent in your november it was looking so good, so how can i prevent that because there is like i said still one day left which is today as of the recording of this and what we're looking at here is my monthly result so far for november now a little context, here, i am. I'm and i've been doing an approach that i like to call the be done in 30 approach, meaning i want to be done on average, 30 minutes every day so the results you see right now, are from, on average, 30 minutes in fact if you've watched any of my past live trade videos, from this past month you've seen some days have been, a minute. Five minutes 15 minutes, now some have gone over 30 minutes but, on average, very closely to 30 minutes probably a little less, and as of the month with that approach i'm currently up, five thousand, two hundred. Forty five. Forty four dollars and ninety six cents.
So For me, it's a question of okay right now, clay what's going to make you happy, what is going to make you feel good about this month of november. And for me, i want this number to be at least five thousand dollars when the day is over, why five thousand, well that's gonna put me right at about a ten percent, increase in my account. And as i said that i was curious i was like you know i wonder what the cd rates are actually are because i get it social media world it's like. Wait clay you're only up. That amount wait what. 10, account growth well. But let's put things into perspective here so i live in michigan. So i mean, what are some of the bank cd rates out there i mean check this out, a one year. 0.39. For one year, and right now if i close up over. At 5 000, that's 10. For one month. Uh yeah, i'll take that. I'm curious is there anything else around here that. Oh there we go so there's there's goldman sachs the remarkist, account. Okay. 0.65. Which is apparently, the best one out there right now. For one year. One year, 0.65. Yes i would be in fact looking at these numbers even if i grew my account one percent now you want to grow your account more than one percent, but i mean, 10. Yeah i am very happy with that and then you factor, in the time component, knowing that these results were generated, from, on average. 30 minutes per month, i would be more than happy, with 5 000. But this brings us into the next phase okay well, what is that telling us then if i'm up. And i'm not trying to insult your intelligence here but i'm walking you through the process here and just to show you how easy it is if i want to close up if i want to be up at least five thousand dollars, and i'm up 52. 44, and 96 cents the question becomes how much can i lose today, how much can i lose today, and still be up over five thousand dollars. Well i mean not to insult your intelligence, but, if i want to be up five thousand dollars and i'm up five thousand, two hundred forty four dollars 96 cents then today i can lose. 244. But i'm just gonna make this a little, easy i'm gonna you know. Uh bake in a little kind of wiggle room because yeah sometimes things can get jumpy so let's just call it 200. So instead of that let's just call it 200, that way i have about 45, dollars, of wiggle room, so that is gonna be, the most, i can lose today, so if i take a trade. And it looks like, okay if i'm wrong i'm gonna lose about a dollar per share. Well then i should not be putting in 500, shares right because if a dollar per share is what the loss could be, and i have 500, shares, what's my math going to be on that that's going to be a loss of 500. Which would what, which would then put me down below 5 000, which is going to have me a little irritated, it's going to make. Good job clay, but if i know that. My potential, risk, is a dollar. Then how many shares should i have, if my potential, risk is a dollar per share hopefully you're saying well clay then you should, at most you should take 200, shares. Because if you only want to lose 200. Then you better only have 200, shares, so do you see how when you start backwards, when you start at the number of you know, you know trader. You know. What you know whatever your name is, you know clay what's gonna make you happy, five thousand dollars okay well because. Five thousand dollars is gonna make you happy. Then. You now know. That two hundred dollars. Is gonna be what or excuse me 200 shares is what you should have now maybe i'm looking at something i'm saying you know what. I think if i'm wrong it's going to cost me 50 cents per share. So let's see how, how well i'll bake in a little quiz quiz question here for you so then how many shares could i have on that position. Again if i'm looking at the the trade plan and the trade plan says you know if you're wrong, it's going to cost you 50 cents per share. And again i only want to lose 200. So how many shares could i have in this situation, well if you're saying well clay, in this situation, you could have 400, shares. Because 400, shares and if you lose 50 cents per share well that's gonna, equal a 200. Loss, which would still keep you up above 5 000.
So That's how. I would encourage you, to, manage, your risk, to manage your position size, when you're getting towards and i know this could be really you could do this at any point, you could do this at the end of a day. If you're saying okay i'm up i'm up this amount right now, and i want to be sure that i at least stay up, a certain amount, well then go through the same pro process, now you're going to know okay well now i can only lose this amount, which means that and it's gonna you work backwards like i just took your hair, and you can figure out what your position size should be. Maybe it's at the end of a week. Okay i wanna make sure that i'm up them out for this week, okay so how much can i lose and i'll still be up about that amount, and okay well then it's going to tell you how much shares or in this situation, as i'm doing live touria, right now, how much can i afford to lose. To stay up over five thousand dollars and i gave you my rationale, for the five thousand dollars. And now i know going in. That all right. 200. Dollars, is going to be the minimum i can lose in a trade, so there's no doubt i'm gonna be using smaller share size today but that's okay i don't care i'm not looking to score a bunch of money. At this point i'm just looking to hey let's make sure i get at least 5 000 and, if i get anything above 5000. That is just a cherry on top of the cake, so that is the context, going in, and i realized that maybe you clicked here looking for the live trade and, there will be some live trading to come i think unless there's absolutely no opportunity, out there but it looks like there will be uh but regardless, this is the most important thing of the whole video right here so just make sure you're always, using, this process. It'll ensure that you don't, get frustrated. It'll ensure that you know you don't. Spin out of control, because let's look at a spin out of control situation. I take a loss. And it's 500. Well well now i'm down to like 4 800. Well crap, i wanted 5 000. i got to get back that 200. Now, and then you go out there and you start forcing trades you start, doing things you shouldn't be doing, because you wanted to get up to that area, and, think now to be fair sure you could get back, but i mean it could get even worse and now you're thinking well great, now i need to make four hundred dollars to get back up to that and you see how that can quickly, unfold. Unfold, and unfold. And i speak from experience, in doing that, so this is not me talking about well i read i read that this could happen in a textbook, no i've done this on several occasions which is why, i'm really trying to emphasize.
Please Go through this process with your trading. Figure out what number you're going to be happy with, and then figure out do the basic math okay that means i can only lose that amount, and from there as you just saw here you can walk through and figure out your position, size, so 200. Is my number, moving forward and now you know exactly, where that's coming from, so i'll go ahead and pause and uh we'll uh get the live trading. Started hopefully like i said this is live so, this is going to be a terrible video if there's no. I'll probably have to at least force a trade in order for this to all make sense because this would be the worst video ever if i went through all this and then there wasn't even a live trade but, i'll find something. Market opens up here in less than one minute gonna be watching tesla, out of the opening gates usually i'm playing tesla where with anywhere between 200, shares to 400, shares. Right now you can see. 75, shares why well, we just spent a whole lot of time on the y because, if i'm wrong on tesla, i'm going to be wrong by multiple dollars. So i need to, factor that in. To the analysis, here. And just very very i missed my opening alert to the chat room there but i'm not quite sure if that was. Really a realistic, alert for people to get in there or not i suppose it was, i alerted, 601.75. As a, flush point meaning wanting to see the price come down. But, again, like, i suppose it was possible, but, i mean you would have been just. Fighter fighter. Fighter pilot focused to get, and take advantage of it. But yes, you perfectly, if i did my job right in explaining. The context here that is why i have. 75, shares. And while tesla, is just so fast. I'm almost wondering if 75, shares is too much. Mrna. Just. Just beast moding. Yeah a multiple dollar. Mover. Let's see what this one wants to do. What is that on. Ba. If you do hair typing that is just me making those alerts to the. To the community, and while tesla, just. Continues, to rip. So i'm going to watch this one for some sort of sign of. Of weakness, here. I was thinking about 603. But, thinking about it, and doing it are two very different things, so. Boeing big bounce up. Let's see what tesla wants to do here 606. 603, that's three now yeah. Let's see it bounce, 604.50. I could see that. Nope, not it goes through there, so tesla's not really giving me any setups that i can work with, but wow nio. Oh yeah tesla now it's pulling back but that's just not. There's nothing you can trade there that thing was ripping all of a sudden that fast down. I mean absolutely nothing. You can trade there. Crazy move but. Not exactly. Let's see what's going on with nio, here, i'll just. Basically, straight down, so nio, yeah and i oh i could. Do. A, dollar. Yeah. 300, shares. If i if i wanted to take a trade on nio. Tesla though might be getting the setup here now, what is that. 600. 620. Yeah. If this looks like it wants to get down through 600. And i missed it. And there it goes. Well. That white, order means right there that i submitted it to the market, problem is. I was not fast enough and now uh tesla, is passing me by. So right we'll x that, out. Maybe a bouncer coming on xp ev. Again one of these that i. Could. Do 300, shares on. All right well i'm gonna go ahead and pause. Watching, xpev. Here. 150. Shares because this one, it can get pretty jumpy. But again days, like this i'm not looking to make a bunch of money i'm in total defensive, mode right now i mean like i said if i can add a cherry on top fantastic. But i'm already happy with my month more than happy with my month. 6085.. Oh and i can't even short, whoops.
Been Able to short this one for days on end but just looking up here. Usually i would have a green e actually let me change it to tesla and you'll see what i mean so watch tesla now see that green e, that means i can short it. So there i was, i even tried to short nothing happened but, that's why nothing happened. So lesson there always check that but yeah like i said. Well that's disappointing. That's been a really. It's been a solid one for me. Oh i do like nio, 5285. What would that be oh yeah i can take. Yeah not even close to. What did i say. 52.85. 200. 200, shares. Let's see what it wants to do. Yeah 53. Yeah. I like this a lot 53. Stop will be up around 53.50. So even if i'm wrong. About a hundred dollar loss, which is fine by me. It's working its way down around that area. Oh that's why i want to wait for confirmation, more so 5315.. If that falls and i'm gonna, then i'll hop in here. Well. No i can't no let's see it push up some more. Good, 53.25. Now. Yep. Let's see if 5325. Can come into play. Or maybe this is a truly strong bounce and this thing's just going to keep on grinding higher and higher. Which is why waiting for confirmation, is always uh. A wise. Move. 53.35. Now. Will be my entry point. If it even comes into play again like i said. Making a ways down. It's definitely strong. All right i'm gonna go ahead and pause for now. And wow. Spy, is just getting destroyed, right now. Yeah this one's bouncing upwards. Look at this spy right. Now. Yeah this one continues to grind higher and higher. So this one doesn't apparently, care what's really going, 5335. Though. In there at. 53.47. Stop will be up over 54.. So let's see what it wants to do. Here. Again in 200, shares. This thing either wants to continue to bounce upwards. Or it wants to roll over here i love the rvr. I can't even, think about taking profits until it gets down to at least. 53.. But like i said, this thing's either going to roll back over. Or it's going to keep on grinding higher and if it does. Then i'm looking at you know. Give or take. 100, loss. So that's the choice right now it's quite simple. I'm either right that this thing wants to roll back over here, or i'm wrong and this thing just wants to keep on grinding, higher and higher. And. You know that's just kind of the way the cookie will crumble but i love the setup, nice wrist first reward. And not just a matter of, am i right or am i wrong. And i'm not going to sit here and and. Expect you to wait to see the, every tick by tick so i'll just go ahead and pause and it looks like i'm going to be able to pull off some profits. Or if it looks like it's going to uh. Stop me out then i'll get the video rolling but yeah right now it's just totally in decision making mother all right well there we go. Kind of, and bounce right off the v app, so yeah 53, 25 looking like it's gonna be that key level. That'll need to break down through so i'm gonna go ahead and pause but i'll keep you updated. All right it's moving down. Like i said my profit. Target area is at. 53.. So it's getting close to my profit target area, can it hit it that's the. Question. Oh so close. There we go. Fantastic. So i got out a portion. Of my. Shares. Would like to see this thing get some more momentum to the downside. If we could get down and there we go. Get down through these 52, 90s. Though. Yeah 52.90. Hidden buyer in there right now. There we go. Took out another 50 shares right, there. And now. This is going to be. This thing really get down to 52.50. On this push. Looks like it's got a chance but it sure is getting overextended. You know let's just. Let's just live a little merry life here so now worst case, it's. A winning trade no matter what because i will stop out of my final shares, in fact let me do this stop. 53. 16.. So now absolute, worst case scenario, i'm making money on the trade because even if i get stopped, out.
All Right let me move this down here. So now it's this is the best spot to be in all i'm doing is moving down my stop so quite literally the worst, possible, thing that could happen right now is i make money. By getting out. So i mean when it comes to. Stress-free, trading, this is what but but it was already stress free trade in the first place how. Because, i knew what i was comfortable losing i knew what would keep me fine keep me happy on the month. And wow did that make just sitting through that trade more than easy remember at the beginning there were some patients required. I needed to sit there, wait to see what was going to happen all right now it's bouncing up again if it goes up over 53, i'll be out. But i need to sit there. Okay what's going to happen is it going to roll back over. Well and you know there's there's unknowns, there but it was, easy. Super easy to just sit through there be patient. Why because i was totally. Totally okay, with the amount i was gonna lose if i was wrong and like like and i'm stopped out there, so there we are. Made. Seven dollars. And and then this is the voice that always shows up because it's showing up right now, clay you idiot, why don't you just do 500, shares, if you had done 500, shares. That number would be so much bigger and you'd have a. You'd have such a cool youtube video right now clay, and that's true had i gone bigger, you're right that number, would have been. Much bigger than what it was had but i only went 200, shares. But you know what, that's because, i was right had i been wrong what would i be sitting here saying oh clay. Good thing you only did 200 shares good job buddy. But that was not the uh. That was you know that was not the plan going in. And that right there. Is. How you protect your profits. You go in and you do you play a little defensive. And you play defensive, and if you're right like i was here. You're going to make money but not as much money but you got to remember you can't let that voice show up, oh clay if you had just gone bigger size you would have made so much more money. Don't listen to that because you got to remember your game plan going in. And you know my game plan i spent probably about seven minutes or so explaining, that. And that's everything that played out here, so i mean, it's just another. Nice hundred i mean and let's also be honest it's uh i got out of that trade at, 9 42.. So let's just call it 9 43 to make the math easy, so 13, minutes i made 107. Where in the world can you make even 100. Per hour let alone. In 15 107.15. So when you when you twist it like that, yeah that's still a respectable, gain but you know what like i said it's the end of the month and, i got a bunch of other stuff i want to do today so i just need to move on regardless, but yeah as far as how to, protect your profits whether that be at the end of a day. And, so for example right now if i want to keep on trading, now how much can i lose well now i can lose what 300. Right because, if i could only lose 200, going in but now i'm up 100. We'll factor in commissions. Now i can if i wanted to keep trading at least now i know the most i could lose is 300. So there's all ways you could do it but you always gotta be asking yourself, if i'm wrong, how much is it gonna cost me and i'm am i okay with that amount. So in terms of how do you protect your profits, this is how you do it now before you go though a few things, first off if you enjoy these live trade videos and especially, if you like how i kind of built in a learning lesson at the beginning, then a very quick easy way to communicate that to me just hit that like button, or a comment, down below. Even better, even if it's just a thanks clay a thumbs up emoji, a smiley emoji any comment comments and likes, really go a long way because these live trade videos, they're not the easiest to make i have to talk, i have to, make alerts in the chat room i have to, you know think for myself, i have to you know there's a lot going on so it's not it's totally doable.
It's Just not easy but like i said if you. You know enjoy these and want me to keep making them then just please communicate, that to me and nothing drastic, just either a light like or butter yet the like. Comment combo, even if the comment is just a thumbs up, fantastic, that goes a long way and then check out the rest of the channel lots of videos, hopefully you decide to hit that subscribe button yeah this is how you protect your profits. Kind of go in with a negative attitude, if i'm wrong how much am i going to lose and then from there as you saw, you can adjust everything, from that point forward but yeah hopefully this helps and hopefully you all had a great november. 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.