[LIVE] Day Trading | This is When You Should STOP...
good morning just clay at claytrader.com this be a live trade video where i try to capture some of my trades as they play out live real quick for those of you that are maybe new to these videos when i say 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 post commentary or some sort of voice over recap nothing 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 to honor your time if you want a nicely edited video nicely scripted video uh you will not get that here but if you just want kind of a nitty-gritty dirty look into what it's like to be a day trader uh then you'll find that here it's actually let's see let me see if i can do the math here an hour and 15 minutes before the market actually opens and i was sitting here doing some emails youtube comments so on that note quick plug if you leave a comment below i will read it i will reply i kind of pride myself on that uh but doing all this and looked over and saw bidu just really come to life so actually took some trades on it already and i'm up 300 and i just didn't have the software or anything ready at that point i mean usually i am not trading this that early in the morning but it came along there was an opportunity and i thought hey i like when the market gives opportunities let me see if i can take something from it but it's looking like there still could be some more opportunities here on this one so i'm gonna like i said want to get everything at least set up and rolling and we'll see if i can capture another trade if not uh it does still look like an interesting day regardless so i'll just see you back in the market open which again as as of now it's not all is not until an hour and 15 minutes but like said i'm curious about this one so we'll see if it wants to give up another opportunity or not and if it does then yeah maybe i'll be able to capture a pre-market trade here on video all right market opens up here in less than one minute was not really paying attention at all was just doing other stuff hanging off my kids and stuff like that um but now market opens up here really any second now still watching bidu very curious about 189 188 but i'm just gonna at this point just gonna let the market open up and we'll see what it wants to do here so the market is open and a bounce to start things off tesla also very curious about especially down there around the 639-ish area so yeah let me get that alerted to tesla 639 flush point one minute i do offer a private training community so that's where i'm making those alerts oh wow oh where do where where to go in at 6 39 here on tesla hmm very choppy though see if we can get a move down a 6 38 there we go can we get down to 6 37 whoops well i could not get out of my order fast enough so right there actually worked out slightly in my favor uh so quick 155 dollars there on tesla very choppy though not still not even a million shares traded and it's a minute into the day which you can see right there so and for tesla that's that's pretty low volume so it makes perfect sense why it was so choppy but like i said i'm very curious now about uh 195 looks interesting let me get that alerted vidu 195 flush point one minute so if you're not familiar i do offer private community so you can see there is a there's that alert i made on tesla 639 so hopefully members were able to take advantage of it uh gme let's see austin just made comment on gme how is gme looking and just a pull back here yeah this thing want to get up there and close the gap we'll have to wait and see but well good got a quick little score there on tesla probably not to stay away from tesla for now just because that one is so so choppy with the volume situation again if you hear typing that's you're not crazy that's just me making other alerts in the chat room now i'm not gonna take 195 if it drops all the way down on this candle would like to see it actually go sideways a little bit and then come back down that would be uh okay very nice that fast bounces back up so maybe even 196 to try to anticipate the break of 195 but we'll see what this candle here wants to do all right well i'm gonna go ahead and pause for now and i will keep you updated all right now watching 197.50 but as of right now this might be uh just a legitimate bounce and if it is then there will be no uh trade confirmation and there will just be no trade on it but i'm watching 197.50 if it wants to come
in back into play but as of now this thing just continues to bounce so i will go ahead and pause again what i'd like to see is this thing get up over 203 mission accomplished and now 201 interesting entry point if it wants to come back down to 201 let's officially close the gap nope this thing just keeps on grinding well at this point what's going on with gme here ah back to 100 so that right there 100 basically means it makes it very inefficient to trade it so i just don't like trading gme when it's at that and baidu just continues to go could it get rejected up at that 50 period moving average 203 150 yeah i might do that 203 because i'm going to protect my profits right now so if enough i'm wrong on this one 203 206. 150 i'm just doing the math in my head right now broadly speaking say what is that high yeah 206.50 going to watch 203 let's see if this thing wants to roll over but i would still like a little bit more confirmation on it or do i just go for a scalp do i think that that can go in my favor enough for her scalp yeah actually i do think it can 203 202 50 250. yeah the internal battle of a trader's mind i am really liking 203 though especially with the candles forming up at this moving average what would be great is if the price could get up there and push up through that purple line just slightly and then come back down in fact yeah if that happens i'm taking it but again step one is the no no no don't go don't go now he said i wanna see it get up to that purple line get rejected and then come back down and then yeah 203 yeah 203 i don't know if it's going to cooperate but when you're up basically 500 you can be picky right and i'm going to be high maintenance here so that's going to be the requirement that i put on it wanna see it get up to that purple line one more time and then get rejected and then come back down to 203.
come on get up there nice good good good i'll come back down in fact i'll go with 204 at this point if it comes back down maybe this is a legitimate breakout that is a very real possibility open as of right now that's exactly what it seems to be so yeah got to give creditor credit to this thing has been very strong so i'll go ahead and pause all right watching 20450 here in at 204 50. out half shares see if we can get some more pull back here in the world there we go all right i'm just going to take that there only had a hundred shares probably should have a little bit more confidence in it but like i said that the level twos for those of you that are new those are the level twos over there uh they just weren't quite acting the way i thought they would act on that break so i decided to just take my uh gains there which puts me at 512 dollars and as one of my uh just sayings goes to help keep perspective 500 a day keeps the day job away so i am uh i'm not gonna say that i'm done but hey if i can just call it good after you know basically 15 minutes of trading granted i did a little trading the pre-market there but that was only a few minutes uh but regardless even if i call it 30 total minutes which isn't even close 500 is not too bad but like i said there's still some interesting opportunities out there so i'm not going to quite call it good but yeah i'm i'm very happy with 500 like i said 500 a day keeps the day job away 636 tesla that is a very interesting level tesla 636 flush point one five minute 50 sma that's wow what a well-established area that is and it even it makes even more sense when you bring over the five-minute time frame because you can see that purple line there the 50 period moving average so i mean the price just been bouncing right off that level so multiple time frame analysis always a good thing and whoa there goes gme but again i'm not trading gme because of the was that i explained earlier but nice turnaround but yeah it's just not not for me so the question that i have to just ask myself here is if tesla bounces off of 636 well it's more so 635 50ish but if it bounces off it and goes up so my stop would have to be about 640. so that's a five dollar per share risk so if i'm at 100 shares i mean i could i could give back all my gains there i so i just can't do it i can't take that trade right now given the way things are currently set up because like i said even if it does break down through that area and i'm if i'm wrong and it snaps back up then i'm potentially putting i mean i suppose i could go 50 shares and that's 250 which would be half of my gains but that doesn't sit well with me either i don't want to give back half my gains at this point so yeah tesla right now um because you got to always think right and when i was when i was knew when i was just getting started it was always well how much money can i make right that's what you would look at you would start off the trade funnel how much money do i think i can make on this thing when in all actuality you got to be thinking how much money am i going to lose if i'm wrong and that's where you build a trade from plan from from that perspective so as of right now with that premise the way this setup is in order for the trade plan to actually make logical sense logistical sense according to the chart i just i mean i could go i guess 25 shares but then i mean if is it really worth it at that point to do 25 shares i suppose maybe but i'm not quite sure if it's even really worth anything at that point so i mean like i said if i did 100 shares um well let's uh i did 200 shares at first so if i did 200 shares and i was wrong that's a thousand dollars so that's giving back my gains and then being down 500 okay so if i do 100 well that's still giving back 500 dollars so that's still all my gains and i don't feel good about that oh and but if even if i did 50 that's 250 so i would still be green but i'd be you know have given back half my gains and just like that look at tesla go back upwards now not that there was there was never even a trade signal given but let's just say that it had actually triggered right it had given me the signal that i wanted and i took the trade right now i'd be stopped out i'd be stopped out and then it just wouldn't have worked out but i mean there was never a trade signal given in the first place but pointer being that's kind of what you always got to be wondering and asking yourself is not how much money can i make in this thing how much money am i going to lose if i'm wrong because believe it or not you will be wrong at some point i know people go on winning streaks i know maybe you've never lost before i know your portfolio is up like a huge amount but at some point you'll be wrong and just make sure you understand what the downside risk is if you are indeed wrong and i am done for the day and i want to explain why why i'm just not willing to risk those gains anymore because let's look at the sby 5 minute here sby is if you watch my videos i just use this as a general indicator and what you can see here is it's literally just going sideways so where where is it ultimately going to break out i don't know now if i'm right and it breaks out of my favor for if i and i'm in a stock so let's just say i buy a stock and and this breaks to the upside well that's that's going to help my stock out quite a bit but if i buy a stock and this thing breaks to the downside that's more than likely not not going to be a very pleasant experience at all so because i have no idea what's happening next like i said it's literally just chopping back and forth i just need to be done i mean like i could guess and i could be right and then hey that's great but that's just a gamble like if you find yourself literally just guessing you are no longer trading anymore you need to be not you're never going to say i'm i guarantee this is going to happen but you have to be able to say i have a sneaky suspicion that this is what's going to happen and i have good reason to believe that this is what's going to happen but right now i don't know what's going to happen next with sby it's literally just going up and down up and down in this tight little range here so because of that really any trade that i'm making is just at the core if you boil it down a total guess and i'm not here to gamble i'm here to trade i'm here to attempt to make the the market my atm machine and in order to do that you can't be guessing you got it you're never going to have guarantees but you got to be able to ensure that you're looking at high probability situations situations that you feel much better than just flat out saying a guess i mean look at this as i talk that had dropped down was a red candle now the thing's bouncing back up so for that reason um i've i've arrived at the part where i just have to admit yeah this market is kind of choppy right now i don't know really what it wants to do next and i could easily get you know stuck in some sort of whiplash where i think it's gonna do one thing then i'll send it chops against me and then i gotta you know potentially have a situation where i give back my gains give back half my gains and like i said mentally speaking i just don't want to do that i'm not in a mental mood to do that i feel great right now i feel fantastic uh it's you know like i said 500 500 for let's just call it 30 minutes i'm more than happy with that so the little kind of moral of the story here is just knowing when to stop when should you know when to stop trading well when you just literally feel like this is just a flat out guess i don't because i don't know what's coming next and there's no shame there's no harm in admitting you don't know what's coming next or you have really no suspicion at all of what's coming next in fact i would argue that's a sign that you're actually really starting to learn you're still you're really becoming advanced because you can admit to yourself yeah i'm not quite sure and because i'm not quite sure because i really have no idea hey at that that makes it a flat out guess and when something is a flat out guess you should be done trading because i realize yes we all are technically guessing i'm always guessing but i'm guessing with odds i'm guessing with okay yeah it is a guess like when you cross the street right when you cross the street you are guessing that you're going to be able to get to the other side but you are doing things to make sure that the guess actually it has a high chance of happening right you look both ways and in trading same thing right you were guessing but you want to be able to look both ways and when i'm looking both ways right now i see nothing all i see is this right here chopping back and forth think about it when i was just talking to you that thing was all red at one point that was a red candle you can scroll back and i'll look at it next candle it's going green again so just back and forth back and forth chopping around and i just i just don't like that so i mean i'm kind of blabbing on now but this is a very important lesson so how do you know when to stop trading when you just flat out say you know what i am guessing and you we don't want to do that as traders now before i go a few well a couple ques do you like when i boil in these little educational lessons if not i i won't do them but feedback always appreciate in the comments section but then just in regards to these vid these live trade videos in general if you do enjoy them because they are live please let me know that you enjoy them because they're not the easiest to make i have to talk to you i have to think about what i'm going to say you have to think about what i'm gonna learn in the chat room i have to think about my own trades i have to execute my own trades i have to type alerts in the chat room so there's a lot going on and it is totally possible but it does take a lot of effort and brainpower on my part and i will keep doing them but i also want to guard my time right as anybody should you want to value your time and i want to make sure that my time is actually being spent uh wisely by doing these videos and if you do enjoy them if you wanted me to keep making them then easy way to communicate that to me two things hit the like button leave a simple comment the comment could be a thumbs up emoji it could be a gorilla emoji it could be a rainbow emoji but hitting the hitting that like button leaving a comment those two things communicate to me yeah clay it's worth your time please keep doing them and i will keep doing them and then again like i said let me know about the lesson do you like the little learning lessons that i bake in or should i just keep it strictly to all the live trading i would love to hear from you but thank you for hanging out and remember as soon as you get to that point when you don't know when you have no idea what's really coming next then you're guessing and at that point that's when you know when you need to just stop trading and walk away for the day 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