[LIVE] Day Trading | Two HUGE Tips for Traders...
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. Market opens up here in about two minutes, I will be watching TSLA out of the opening gates and doing some, well, hopefully doing some options on it and on that note I say hopefully just because these are live, meaning I'm recording myself seeing the information for the very first time. So this is not a voiceover, this is not some sort of you know, recording that's already been made and now I'm coming back and doing a trade recap or post commentary, nothing like that.
I don't know what's coming next. So, who knows maybe something else happens and I don't trade TSLA options at all. But right now that is the game plan, so I will go ahead and pause and I'll see you back at the open.
All right, the markets are open. And this is representing one minute candle so that will, that candle will keep on forming until the first minute is done. (typing) So, just letting this pull back here, if you do a hear typing that is just me making alerts in my private training community.
(typing) (clicking) So now I'm just letting TSLA kinda chill out here a little bit. The price, (indistinct) They're trying to come back up here, watching for maybe a break of 623. (typing) We're just trying to give this a little bit of time here to play out. So maybe at this point 622 would be an interesting area.
(typing) So in there at 10.10, looking for a break up through 622 and then ideally to new high's here. But step one needs to be getting up above 622.
So pulling back a bit here. Let's see if we can get someone over our hammer candle. (clicking) So just trying to give us a little wiggle room, see if it wants to try to recover back upwards. You know, going along it's just not my thing.
Out there for $600 loss. Well, that was not pleasant. I know a lot of people ask, "Clay, when you ever go along?" Well, there's a good example right there.
'Cause I can't, (laughs) 'cause I feel like I can never be right when I go along. I am watching this for 621. I am still, believe it or not bullish on this. (clicking and typing) But as of right now, yeah, this thing just completely continue to pull back here. Now it starts to go back upwards but... Yeah, I really thought it was gonna come back up and make a pushup through that area and it just did not happen.
So, it is what it is, not pleasant, but just, and even if it does go back up there, I get it, "Clay, you should have held." Yeah, you're right, I should have held. But, like I said at the beginning of these are live. I don't know what's coming next. So, maybe this thing keeps on falling and falling, falling, and then I'll be able to sit her and say, "Well, Jesus, I'm glad I got out."
(typing) As of right now, let's see what AMC is doing here. Let's see, 60. 59. That area is very, very interesting. 59, maybe move up to 60, but, yeah, we'll see what happens. So, all right, I'm gonna go ahead and pause.
And as of now feel just fine about that. TSLA has continued to pull back, so I got that one very wrong, but, hey, you know what it happens. Was watching RBLX here. I am back. And the reason why the screen changed around is 'cause I'm not looking at potentially trading some stocks.
The other one is from my options. (typing) We'll see what this one wants to do. (typing) AMC coming down here now.
(clicking) Might be interested in yeah, call, just, I guess I am talking to myself right now. 55. Yeah, I'm just kind of letting things play out here and TSLA continues to drop. Wow.
In hindsight, Clay, what was I thinking? And it was such a strong gap up, I thought this thing would at least have somewhat of a pop in it, but, nope, I got TSLA completely wrong. All right. I'm gonna go ahead and pause. And I'm watching 614 here for a break. See if I can get it to come up and film at 11.25
or did I just get left behind. No, I gave that thing plenty of time. So looking like I'm being left behind on that one.
I was willing to pay up to 11.25, but it just went beyond me there. So, it is what it is. Go ahead and pause.
All right. I'm watching 611 is here on TSLA, mainly geared off the fact that I think the S&P 500 is gonna wanna roll over here. So I'm keeping a close eye on this, so the S&P that's always off screen, but it's looking like this thing may wanna pull back and if that pulls back, it should help out TSLA here.
Like I said, just looking for a little bit more confirmation. And we'll see if it wants to do that or not. (bird chirping) So watching very closely here (bird chirping) and see. Yeah, yeah, 611 ish. So let's see what it wants to do, in there at 12.45. (clicking) Looking for this thing to make the move down through 611 now.
And the SPY is looking fantastic. So if I can get the SPY to roll over too, that's gonna be great. (bird chirping) Mainly watching the SPY on this one. (bird chirping) This thing comes back down at 611 because of the SPY. I will be very interested in adding to the position.
(bird chirping) Let's see what it wants to do. (bird chirping) But as of now with TSLA completely going against the SPY. SPY, as you can see here is falling and TSLA is right now trying to fight against that.
So that has me a bit worried, but it's also, you know, exactly what I was, you know, basing this whole thing off of. (bird chirping) Gonna, if this ends, comes back down at 611, I'll be interested in adding to the position. Maybe even adding a bit higher around 612.50. So watching 612.50 here.
(bird chirping) (Windows notification) (bird chirping) Again, 612.50 watching. Yeah. Right now this 612.50 ish, definitely being a little miniature area of support, which is why I'm not willing to add yet, because I don't know. Maybe this thing is just gonna bounce from here.
(bird chirping) Yeah. 612.60, if you're watching those level twos. So let's see if it wants to come back into play here. Trying to come back down and watching 612.50. Do you know what you level I'm watching? I think I've said it about 10,000 times now. I'm almost wondering if I should just pause the video. All right, here we go, maybe.
I don't like this tight range all of a sudden the what... I do not like how TSLA has tightened up. (breathing hard) Just still watching the SPY too.
SPY is doing nothing wrong. Once again, 612.60, right around that area.
So added some more there. Let's see if we can now start to get a move down below 612 would be a great place to start. (clicking) (typing) Still bearish on this one.
SPY once again, it's coming down, but TSLA is basically doing the exact opposite. I wanna give it a little bit more wiggle room, 'cause again, the SPY is what's driving this trade. This point do I add more? It's 612.75. (clicking) Maybe I will add more if this wants to come back down 'cause this would be a very nice candle.
If it can come back down. Great candle taking shape here. Very nice candle, let's see if we can get a little bit of follow through for it though. (clicking and typing) Love the candle.
Just a matter of... Is the pattern gonna work out or isn't it? I had myself positioned very nicely. (clicking and typing) Step one's gotta be got, it's gotta get down below 612.
612 to 611. I mean a beautiful five minute on TSLA. Great candle taking place.
Just the question of, is it gonna give me any follow-through? All right. I'm gonna go ahead and pause for now. This is taking forever, so I will pause. All right. Got down below 612
but the ultimate idea here is to get down below 611 also, which is gonna be difficult 'cause we have that 50 period moving average right there, but, I think it's got a chance. See if it can get down below 611. There we go. Looking for 610. (clicking) Again, looking for this and get down below 610 self, two contracts left. I have one contract left.
Really trying to be patient, see if this thing can indeed get down below 610. Nice, nice, nice. See if we can pick up some more momentum here. S&P 500 or SPY rolling over beautifully.
Mainly watching that right now 'cause as long as the SPY rolls over, this should come down too. Right now I've got the SPY, little worrisome. So let's see if we can give it another push down below 610.
There we go. Starting to stall out there though momentum-wise. So I'm just gonna get out right there. So, $255 on that trade.
I should have added again, that would have really helped out with the scaling out, but I didn't. However, the big learning lesson there is, what kept me involved? What kept me not freaking out, not panicking out? The SP, whoops! The SPY right here. You heard me talk about through the whole thing. I thought that thing could roll over. It did roll over and you can see that's what kept my cool.
I realized that I don't know what my unrealized losses were. Again, I don't care because I'm not trading the P&L, I'm trading the dynamics of the market. I'm trading the, you know, the charts, I'm trading what's going on and what's going on was, I really liked the odds, I really liked the chances that the markets would roll over. They did roll over and that's what allowed me to put a nice trade in my pocket. And, again, yeah, well now I'm judging myself in hindsight.
So yes, of course I should have added way more, of course I should have held longer, but, I really liked the way I played that one. Think I scaled out quite nicely on it. And ultimately, you know, I'm still down on the day, which is, it happens down $345, but overall, not only happy with that trade 'cause it worked out, but from an educational lesson, that was, I better be recording. Okay. I am recording. A very good educational lesson.
Have an order at 21.55 here, on CLOV, looking to buy this pullback. And it broke down, but didn't quite go as low as I wanted it to get to. So let's go to 21 now, excuse me, 21.15. (clicking) (typing) So we're looking for 21.15 now.
Actually let's do this. Let's go to 20.85. (typing) So 20.85, looking at buy this pullback, I'd like more than 500 shares, but this would at least allow me to get my feet wet on the position. So I'm gonna go ahead and pause and we'll see if we can get down there. Oh, wow! All right I am in.
Holy smokes! Did I, don't even know if I captured. I apologize, I know I got the exit, but, that thing literally, in a microsecond dropped down to 20.75 failed me and I got the video rolling and as soon as I entered my order in, I was willing to sell for it. So this sell fast than mood. I got filled and I was willing to sell for 21.06,
but by the time I could drag my cursor over here and click sell, the order had, or the price had already moved back up to 21.06. So by being a little slow, I literally made $30 more on that trade. I apologize that I missed the, like I said, the entry, but it all was, split second I got filled, hit the hot key to get the video recording again. And then as you saw me do drag that over to click sell and it had already come all the way back and you know, filmed me at 21.06. So, and this is just a stock so I'm not...
In this situation I'm not doing options any longer. So just traded the stock on this one. But I would like to try to play it again if this pullback continues.
With the next order down around, yeah, 19.75. So we'll just do the same thing all over again and I'll do my best to get it caught on video, but if that sort of price movement happens again, it's probably not gonna happen, but that's the game plan. And I'm gonna go ahead and wrap things up, I think, unless this all of a sudden comes down, then we'll get another trade. But as of now, I am gonna go ahead and wrap up the video. So as I kinda stall to see if the price does wanna come back down.
I am down, I just checked with commissions. In fact, I'll just bring that over here. Let me just... Let's see.
Is that on the screen? No, I got to scroll down. So right there, this is what I made. So, what or not made, but that's what my P&L is 189. But with commissions and fees right there at two, not $2, that'd be nice. $210, read on the day. So, it is what it is.
And from being down the $600, I'm actually quite happy with that and really my best trade and I'll show you, was TSLA. How so? Well, remember when I was a idiot that was bullish and thinking it might go higher up there, what happens if I'd had done the hold and hope game? holding hope, "Oh, it'll go back up. Everything goes back up." We're talking easily, easy thousands, thousands of dollars, gone.
So it wasn't fun to take the $600 loss up there? You know, was that enjoyable? No, absolutely not. But, as I look at things right now, and like I said, had I done the hold and hope, hold and hope, hold and hope, diamond hands, everything will go back up 'cause TSLA's a real company, therefore, because it's a real company, it'll go back up. Well, you know, in the world of options, and when you have time and expirations and all that sort of, I mean, and I'm not being... I'm not being, you know, speaking, you know, hyperbolic terms either. I mean, literally thousands of dollars would be gone at this point, had I continued to hold on hold and maybe even more thousands of dollars coming.
'Cause if this thing breaks down more, that would have just increased the loss that much better. So I realize that sounds like you know, a contradiction that my best trading, my best trade was a $600 loss. But, think about what taking that $600 loss allowed me to do? It allowed me to not close green on the day, but have a very, very manageable hole. I am more than confident that in the next trade, in the next day, certainly in the next week, I will be able to climb out of a $200, excuse me, $210 hole.
And what allowed me, what gave me the opportunity to do that by just keeping that loss at $600 and not allowing it to just spiral out of control, to being thousands upon thousands of dollars. And I realized, and we've all been there. You get stopped out and then the price turns around and could have gone in my favor. I've had it happen to me and it'll always happen to me. It'll always happen to you, but all it takes is just a few of these, where you're not disciplined, where you don't follow the rules and absolutely can be destroyed.
But in my situation, I would not define or classify absolutely being destroyed. Quote on quote, "As being down $210". Being down two, three, $4,000. No, that's not gonna wreck my account, but man, that's gonna be a big hole to have to climb out of. That's gonna be a disaster to have to climb out of.
But in this situation, kept it at 600 and ultimately, kept the hole very manageable. So let's... I know. All right. No, no, no (indistinct) if anything, maybe go along up over 20 to 30 ish, but, I need to just be... I have actually... So a quick plug, if you're not familiar iTunes, what is this? Spotify, any other podcast players, I do offer a podcast, been doing it for years.
We're well over episode 300 now and point being, check it out The Stock Trading Reality Podcast is the name of it. But I have a guest that I need to interview here at 11:00 AM Eastern time and it's 10 47. So I needed to get moving. And that's why I'm not gonna be able to take any more trades right now.
But overall, like I said, yep, closing down on the day. But I really couldn't ask for, I mean, this is, quite frankly, this is some good, good stuff from an education standpoint, How the SPY really helped me out, how just taking the loss, being disciplined really helped me out in a bizarre type of way. So, it is what it is. Hopefully this helps and oh yes. Before I officially go, I don't know, let me know. Do you like these little lessons that I've baked in here? If you want me to just do without them, that's fine.
Just let me know. But in the comment section, do you like the lessons when I factor them in or not? But also because these videos are truly live, if you enjoy them and want me to keep making them because they're not easy, because I have to, so much stuff going on, I have to talk to you. I have to think for myself, I have to make alerts in the chat room.
I have to actually trade for myself. It's a lot. But I will continue to do them as long as I know that there's interest. And as long as I know that there's interest. Then, like I said, I will continue them. How do you convey interest? Just two easy things, hit that like button, leave a comment, even if it's a smiley face emoji.
Even if you just put a period as a comment, those two things go a long way in communicating to me that you do enjoy these videos. And as long as I know that there's interest, then from a time management perspective, I have no problem at all, you know, continuing to do these. So overall, down $210, some good learning lessons, I'm feeling great, feeling fantastic. And tomorrow is a new day and I'm quite confident that $210, I can overcome that hole. First off, thanks so much for watching the entire video.
Real quick before you go, I wanna invite you to a live webinar, web class, training, workshop, online event, whatever you wanna 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.