@Ross. Thank you for insight fullness and transparency. I remember that day when you lost $275k, because I too lost 20k. Today, I'm on the same situation loosing about 5k. I agree with you, today is probably one of the toughest day trading because of low volatility and to some degree, some traders are covering their wins for the entire year by taking loses (tax year). Nonetheless, I look forward seeing greener days ahead. I feel this is a minor setback for me and looking forward with trader rehab for the next few days. I love trading and love the process... Wishing you a happy new year!
you're one of the best so seeing this happen to you I know it can happen to anyone. a question for order types, what kinda buy/sell order types do you use? I have had webull give me a error when trying to 100% market sell. is this just a problem with webull?
@@kabucitan3380 But not just the Volatility. Velocity and Volume as well; particularly Volume. As the great Tom O'Brien always used to say, "Volume = Cause, Price = Effect".
Dear Ross , I got very emotional listening to it as it reminded me of my biggest loss . It was last year around this time . I kept adding thinking I don’t want to take this loss , got very stubborn and refused to accept my daily max . Turned that off and kept trading . The point is market can make people humble very quickly and one should respect the max draw down . These penny stocks come every day entire year . It’s not the only one so let’s move on . Thank you for an inspirational video
That’s the mindset so that I don’t feel fomo anymore… these penny stocks come every day, you miss one today, who cares prepare for the inevitable next stock to trade.
Thank you Ross and happy new year. Today I lost $99.00 dollars and it didn’t feel good. My account is small, but day trading doesn’t look at our accounts; day trading is emotional no matter the numbers we’re playing. Blessings for all
Another impressive teaching video! Having blown up several small accounts I realize that day trading is 95% a psychological fight. It's a statistical game and respecting rules is the only way forward. Today I went below my max daily loss but I continued trading exactly for the emotional reasons you talk about here. I was lucky and I recouped my losses and then some, but that was reckless, and a big mistake on my path to become a successful trader. I consider today as a step back, even if I ended up with a profit. If I do it again it can well be the end of my trading career. Thank you so much for this kind of videos, these are the much needed higher level education, after the fantastic technical one that you have already gifted us. You're such a great guy! 🙏🙏🙏
Huge lessons to learn here. Thanks 💯 for sharing this. Honest trading showing the loss and letting me know that it happens to you too. Losses, red, spiral downward, slippage, and FOMO. Showing us that discipline and following ur rules. Awesome.
Thank you Ross for sharing your max loss. It makes me feel a lot better that I'm not the only one in this emotional trading. Even with trading knowledge and experience, I still need to check my emotional tank so it will not get in my trading decision and unnecessary loss. And Yes, Pushing the right button is also a part of the trade. Wrong buttons and emotional hijack are frustrating. Reflecting my actions and checking my emotional tank everyday. Happy trading! 😅😅
Hey Ross. Although I do not utilize your strategy (based on my style of trading that provides me with edge), I am big fan and have been following you for 3.5 yrs now. I appreciate your content, transparency and vulnerability. Your honesty, willingness to share lessons learned, your insight into the psychology of trading and your story telling has been of great help to my trading. Please keep doing what you’re doing…it’s appreciated even by those outside of Warrior Trading. Wish you and your family a happy, healthy and prosperous new year.
Yesterday was my biggest red day so far (I'm still kind of new ) and today I thought maybe I could get at least some of that back . ended up losing almost 50% more . If not your videos I could lose much more , You taught me to accept a lose and walk away.
I started trading in 2011 and lost all my savings, more than $300,000, due to my inability to control my emotions after a loss (I always wanted to take revenge on the market after a loss). Therefore, I stopped trading due to my inability to control my emotions. Trading is just a mental game.
You underscore one of the most critical and primal elements of trading. The inability to A) Recognize your emotions and B) Control your emotions. Because emotions can bring you down in the blink of an eye. Particularly trying to "get even" after a loss. But what I find even more destructive, especially among New Traders, is "exuberance". Not a day goes by that I don't see new traders blustering about their winnings. Like they were in Vegas; thinking that trading is about LUCK or some sudden intangible wisdom that they've just acquired out of thin air. Trading is a SCIENCE that not only deals with understanding and mastering the dynamics of the Market, but of one's self as well. If you don't learn how to deal with both, you're not going to last.
Are you crazy? You should only start with a 3000-10.000$ Account. Start small at the beginning. If you loose you have enough time to reflect about your mistakes.
Really appreciate your candidness and self-reflection. These are the things most traders normally don't talk about, but are actually more important to success than the technicals.
Hey Ross, I’ve been watching your videos for a while now, trying to learn what I can where I can, but trading is by no means my main thing. I wanted to say that this is the best video I’ve seen from you. People can act however they want when they have a big win; but, to still be optimistic and insightful, focusing on the root of why you do it (your family) gave you all my respect. Good work so far.
I’m so glad you’re showing this. I busted out laughing, not at you but the simple fact that this happens to successful traders too and not just me. I was feeling like an idiot today and thinking maybe I suck worse than I thought. I feel so much better. I’m sorry you had a bad day. I pray we get our heads back on track immediately and destroy the market tomorrow and the coming year. God bless you!
Is it too early in our relationship to say I love you? 😂😂😂In this business you are a breath of fresh air! You recommend keeping a trade journal - I create a trade journal by recording my screen while I analyze the trade - gain or loss. It’s been so helpful. And when I do lose - I speak to myself super kindly as if I’m my child self and I made a mistake…thanks for being so candid!
Hey Ross, Ive been watching your vids for a bit now and I like the fact that you share with your subscribers your red days as well! Much respect. I wanted to share with you how I personally get out of this kind of slump that youve been in. Since trading is MAINLY a psychological game I resort to basics and listen to or read trading psychology books or watch the classic interviews of Mark Douglas. Ive seen the interviews WAY too many times and read the books too many times but for some reason EVERY time, I hear something new or realize something I havent been doing to keep FULL emotional/mental control over my trades. And EVERY time, it gets me out of that trading slump. Remember, you can never be too humble in trading. I hope this comment reaches you and you can give it a try. I also hope this works for you as well as it has for me. Happy Trading!👍
I found out through life. that some people are more emotional than others, so teaching how to control emotions varies between individuals. In my case, people find me boring sometimes, because I don't get excited when I win or receive gift, nor depressed when I loose money, I stay pretty much level which is good for trading, meditation and looking at the macro picture helps...People that go to wars present similar behavior, it's a mind set. Love your trading teachings, you truly give back to all of us, as soon as I'm done with the expensive Tim Sykes Challenge, I will join your program...
Just picked up your book! Totally new to all this and have found your videos and the teachings within extremely helpful so far, thanks for that. Unfortunately warrior trading is a bit out of my price range at the minute but hopefully I'll get a lot out of the book and will be able to sign up one day.
I love watching your Videos Ross because you keep Trading Real and demonstrate the reality of Day Trading. I also love your Max Loss Trading limit wif for me is way way less than your Account size. Good bless you brother. 🇺🇸
I'm sometimes shocked at how similar our experiences are. We often trade the same stocks, same trades even, and I'm not watching you live lol. But emotionally, very similar too. Only you've got over a decade headstart in daytrading, so watching these videos can be so helpful and affirming. Thanks Ross
Thanks again Ross. It is literally painful to hear your voice talk about these losses. At least you held yourself in check. Reminds me of drinking at closing time, the bartender tells you to go home but you want 1 more drink! Live to trade another day.
Thanks for sharing! I recently started trading full time options and had my first big loss (relative). Been riding the AFRM rally (which to me is absurd) but anyhow, was up $3500 and didn't take profit; held and then it crashed in a shakeout and wound up losing $1200. I learned that the market is ruthless, that institutional traders prey upon retail traders, take profits often, keep position sizing sane and don't panic LOL. One can so easily get caught up in momentum!
Hi Ross. It is the first time I have seen one of your videos, and what you have talked about is the same as what I have felt, unlike the fact that I had a very big loss to my account more than a year ago and I have not been able to recover. Thank you very much for putting your experience in this video.
Sorry to hear man, really am, but as you stated this is trading. I appreciate your recaps, as the psychological aspects of trading in my opinion is 90% of this. The timeframe of learning the technical are usually only matter of time depending on a person, but the psychological nature could take a lifetime. I appreciate you showing honesty of where you made mistakes. In this, we have no one to hold us accountable except ourselves. Our payouts are directly proportional to our performances, so we have to be honest with ourselves of when we let things go off the rails. Smart that you just walked away. Even with a red day, it was smart. Most people are incapable of doing so. It is imo top 3 reasons why most people end up figuring out that (or are forced to figure out) that trading is just not for them. I have no doubt you will come back at it in the New Year swinging. Happy New Year!
I had started today with a 7 trade losing streak, hit double my max loss. Ended up making back half of it through a SIDU trade, otherwise I’m accepting red today 👍
I absolutely love this channel and every time he has a bad day and is totally honest about the frustration and everything else it gives me so much hope and I am proud of this guy for doing that. I had a terrible November which obliterated 3 months' worth of gains (-$85,000). I went through all the feels but overarchingly I was fucking pissed off at myself. I took 2-3 days off and in December I've made back $48,000. Doesn't make me significantly profitable for the last 5 months, although I'm green maybe $12,000. It's videos like THIS that allow me to keep fighting through my mistakes. Cheers.
Hey Ross, thank you so much for this video, you literally can not imagine how important it is to see a successful trader speak like that. In any case, what i was wondering is this: Some years ago as you said you used to trade differently, way bigger size. The green days were huge, but so were the red days. My question is: What exactly happened at some point that you scaled back significantly? Sure its probably a reaction to the markets being a bit weird in the last 1,5 years, but sure there must be another reason? I would be interested to know what that other ingredient is if you would like to share (maybe in another video). Cheers Ross.
likewise, I started pretty early but I usually study the market, I have a rule which is to trade lower quantity in shallow market and holiday...1. I would test the water with smaller and have my stop buy planned. It is ok, we will make it up... but I would be extra careful in Christmas and first weeks of Jan
Ross, good to have self-control and discipline. No throwing Hail-Mary pass or revenge trading. No doubt, any trader will have a bad day. The question is how does one deal with it in a calm and rational way is very important for long term success.
This brings to mind so many observations and questions. The first of which is premarket trading. I rarely do it because there's no ability to just throw out a market order if you want/have to get in or out quickly. Then again I usually limit myself to 500 share max trades; attempting to slowly and succinctly achieve my $ goals. But of course this limits those premarket small cap and SPACs with the incredible opportunity they present. Especially just after the 4AM and particularly 7AM period. I've been watching them for years now. I've been following you for quite some time Ross, and have always been amazed at how you master trading this segment of the market. It's intriguing to say the least.
I had the same entry in NVFY today. I am new at trading so I usually do not go in with more than a $1000. But it dropped so I averaged down with another $1000, it kept dropping and I was pissed. I kept averaging down until I used all of my trading money in that account which was $5000 but I was down $1600 at one point. I chose not to get out when I had the chance and stayed until end of day. I sold one more stock I had for $1000 and used that to average down. At the end of day NVFY went up to $5 before close and I got out with a $680 profit instead of a $1000 loss lets say. I was super happy. I also expected it to move AH but did not risk it, It went to $8 AH. Could have held but it wouldn't be my rule. Overall stressful and I prefer not to do it that way since I was stressed all day but got rewarded.
I used to average down in the simulator and always was 20 green days in a row. When I went live with lightspeed that average down cell phone app play away behavior absolutely stopped.
I am watching you from the sidelines this morning - saying don't do it, Ross, as you were debating another trade. You followed your rules and stopped! Nice job.
Great video recap as usual. Red day happens it’s just a part of trading. You got this Ross! I took a piece of that amazing runner of CING so I was able to finish the day in the green.
My underlying motivation to learn to trade is to diversify income streams. This only strengthened this year when I saw my husband get laid off, and it wasn’t performance related. The job market isn’t great so it hasn’t been easy to find a job with an income like the one he just had. It’s rough, and companies are not going to be there for you. It’s the same stretch for self-sufficiency.
My new job after leaving the medical field was ….trading. I started from scratch, didn’t even understand what a stock really was. Now I trade everyday and I am just starting to figure it out and increasing my share size. I am 66 started a couple of years ago. I enjoy it. I do feel like I could do it well into my 90’s. I have longevity on myself side.
Watching Ross's Recap and simultaneously trading is like watching a superhero movie and then having the opportunity to be that superhero (but failing miserably). But great to see there are some similarities!
Question: since you dont seem to use hard stop loss (I guess pre-market trading doesnt allow it) do you apply a rule of xR you bail out break-even? My trading plan sets me up to a 2R or 3R Sloss-raise to break-even (hard one, into the broker system). I'm a swing trader mainly so thats the big difference but still a ruleset like this can apply in your trading enviorement as well.
This was a timely video haha I'm having a red day myself. Had a couple calls expiring tomorrow l, otm now because of the morning selloff, but luckily snagged a quick put to cover the losses. Hopefully tomorrow's a better day 🤷♂️
You know I've been watching you for Years Ross, and you're one of the main reasons I started trading. I know you trade and invest but, Have you ever thought about trading larger cap stocks. I understand that your scanners and your strategy are proven to work. I am curious, though. Love the videos and the transparency. Thank you. I know you've talked about Large caps in the past and on days Like these I wonder if you ever get that feeling of changing at all.
Thank you very much Ross for this video it really encourage us.Speaking about mistakes and losses very important it is my 10th week I have no losing week,except one trade that I did in 7 of december and still holding this disasterously shorted stock WBUY,off course trades that I did since 23 of october more profitable than loss of this one trade that I still holding,but it shows to be really profitable trader requires extremly well balanced emotional attitude,THANKS!
One trade a day,just manage the units buying and selling .take your loss and wait tomorrow when you look at a $600 day loss one or two and you have a $2k - $8k wins you are ok with those small losses
I feel your pain. I'm still trying to figure out what happened with CING yesterday. It held all day...soon as market closed, it flew!!! No news or nothing??? I just sat there and watched waiting for a trap that never came till around 1930 last night...smh
06:59 I have the same emotional impulse response like yours, except I'd be getting back into the same stock, on the same side with the same size. and it happens RIGHT after the 1st stop out watched the whole video, thank you for speaking your heart out about trading. I feel the same. can't switch off even when mkt is closed. always thinking how I can get better
@Abel... I've had three different folks say avoid holiday trade or very little trading. My two best days in 2023 were Tuesday and today. I'm on a 4 day green streak in a cash account. Usually, with respect, it's the trader. Today, all premarket, too
Thank you Ross. I learn so much from you and I can relate to your journey. I'm super thankful for your videos and all that you do. Your beard looks amazing btw...
Hey Ross !! Can you make a video about emotions behind taking profit ? I am breakeven trader and unable to grow account because always trying to hit home runs !! Very difficult to get out of the loop.
Today was brutal. Usually I do very well in a consolidating market but this was different. Of course every loss I took could have been at least breakeven if I had patience
You seem to have bad days which match with my bad days. For me it was LAES in pre-market session. I made two solid profitable trades (2.66 to 2.93, and 2.50 to 2.66) then I got cocky, ignored my rules and tried to buy after what looked like a panic sell-off. I sat and watched as it climbed, but felt it had more to go. It was very volatile, and the price was bouncing from solid profit to painful loss in the space of seconds. Then it decided to resume the panic sell off, and as it was pre-market the "Market sell" button was not available. I had to guess where it would be out two seconds later, but it was falling fast. That loss erased all my gains, and took another bite. I ended the day negative. I decided to scale way down, and play with some trading ideas that I had been considering. But because the share count on the later trades was 1 to 70 shares, they obviously could not erase my loss.
Thanks for posting. I don't trade your style (more high alpha swing trades) but, I appreciate your no BS breakdowns. Feel like you're a fellow in the trenches even if we don't trade the same. Still supprised you trade pre-market since the vol is kinda low.
My. biggest red day today $3300.00. Only been trading 4 months seriously. Not trading tomorrow. Need a break. I know everyone has losses but it sure does stink. Thanks for sharing yours Ross.
I managed risk by refusing any stocks over 5 cent spread. As u can imagine that was most stocks today and the last few weeks. I have exceptional success premarket. I used to get up 1am San Diego but literally lost my memory for 5 minutes one morning. Couldn't name anyone at work (except a supervisor who incidentally is why I'm trading full time later 2024 and saying good riddance to her)
I watched a video of yours yesterday where you talked about your mom and her negative view of money and how you had seemed to incorporate that view of scarcity, etc yourself. I wonder if you’ve entertained the idea that you purposefully (subconsciously) botched those trades. One of my big moments was being up over 3k on PWM’s ipo and somehow walking away from that trade a couple hundred in the red. I watched it drop for days before I decided to sell and I thought, for some reason that I’m unaware of, I intentionally did that because for whatever reason I didn’t feel like I deserved the profits. I still shake my head at that trade, but I also use it to remind me as I go forward into other trades.
Great video again Ross, thank you. I was red on the day as well till the market close. Then, I saw this massive move AH on NVFY, I was able to jump in on the pull back and finished bright green 🙏
Grab a copy of my new book! How to Day Trade: The Plain Truth: www.warriortrading.com/books/how-to-day-trade/
@Ross. Thank you for insight fullness and transparency. I remember that day when you lost $275k, because I too lost 20k. Today, I'm on the same situation loosing about 5k. I agree with you, today is probably one of the toughest day trading because of low volatility and to some degree, some traders are covering their wins for the entire year by taking loses (tax year). Nonetheless, I look forward seeing greener days ahead. I feel this is a minor setback for me and looking forward with trader rehab for the next few days. I love trading and love the process... Wishing you a happy new year!
Ross I already ordered and have in my hands four of your books. One is for me, and the other three are for my three sons.
you're one of the best so seeing this happen to you I know it can happen to anyone. a question for order types, what kinda buy/sell order types do you use? I have had webull give me a error when trying to 100% market sell. is this just a problem with webull?
so u know when its gona spilke, coz ur looking at level 2, and on the bid u see the numbers getting bigger??
@@kabucitan3380 But not just the Volatility. Velocity and Volume as well; particularly Volume. As the great Tom O'Brien always used to say, "Volume = Cause, Price = Effect".
Dear Ross , I got very emotional listening to it as it reminded me of my biggest loss . It was last year around this time . I kept adding thinking I don’t want to take this loss , got very stubborn and refused to accept my daily max . Turned that off and kept trading . The point is market can make people humble very quickly and one should respect the max draw down . These penny stocks come every day entire year . It’s not the only one so let’s move on . Thank you for an inspirational video
man you are so right. it's so hard when we're in the thick of the emotions
That’s the mindset so that I don’t feel fomo anymore… these penny stocks come every day, you miss one today, who cares prepare for the inevitable next stock to trade.
@@nathanwarner352 well , you just wait one hour and a new ticker comes up with similar momo so just have to cut the loser quickly
Thank you Ross and happy new year. Today I lost $99.00 dollars and it didn’t feel good. My account is small, but day trading doesn’t look at our accounts; day trading is emotional no matter the numbers we’re playing. Blessings for all
What % loss was that? 99 isn’t a lot if you traded 10k. It’s a lot if you traded 500 lol
Another impressive teaching video! Having blown up several small accounts I realize that day trading is 95% a psychological fight. It's a statistical game and respecting rules is the only way forward. Today I went below my max daily loss but I continued trading exactly for the emotional reasons you talk about here. I was lucky and I recouped my losses and then some, but that was reckless, and a big mistake on my path to become a successful trader. I consider today as a step back, even if I ended up with a profit. If I do it again it can well be the end of my trading career. Thank you so much for this kind of videos, these are the much needed higher level education, after the fantastic technical one that you have already gifted us. You're such a great guy! 🙏🙏🙏
Huge lessons to learn here. Thanks 💯 for sharing this. Honest trading showing the loss and letting me know that it happens to you too. Losses, red, spiral downward, slippage, and FOMO. Showing us that discipline and following ur rules. Awesome.
Awesome TED-TALK Ross! I think a lot of us needed to heard this. Thank you!
Thank you Ross for sharing your max loss. It makes me feel a lot better that I'm not the only one in this emotional trading.
Even with trading knowledge and experience, I still need to check my emotional tank so it will not get in my trading decision and unnecessary loss.
And Yes, Pushing the right button is also a part of the trade. Wrong buttons and emotional hijack are frustrating.
Reflecting my actions and checking my emotional tank everyday.
Happy trading! 😅😅
Thank you Ross for the recap and most importantly a real human conversation with no thrill but actual reality filled with honest feelings. Cheers!
I could listen to your lectures all day. It goes along with life in general
Hey Ross. Although I do not utilize your strategy (based on my style of trading that provides me with edge), I am big fan and have been following you for 3.5 yrs now.
I appreciate your content, transparency and vulnerability. Your honesty, willingness to share lessons learned, your insight into the psychology of trading and your story telling has been of great help to my trading.
Please keep doing what you’re doing…it’s appreciated even by those outside of Warrior Trading.
Wish you and your family a happy, healthy and prosperous new year.
Yesterday was my biggest red day so far (I'm still kind of new ) and today I thought maybe I could get at least some of that back . ended up losing almost 50% more . If not your videos I could lose much more , You taught me to accept a lose and walk away.
Darn man that stinks. What stock was it?
Ross, sorry for your day! Love your genuine humble attitude towards your loss, not everyday is a win and you make that point well and teach it!
I started trading in 2011 and lost all my savings, more than $300,000, due to my inability to control my emotions after a loss (I always wanted to take revenge on the market after a loss). Therefore, I stopped trading due to my inability to control my emotions. Trading is just a mental game.
Max loss. Need to change the mind set.
If you find good set up emotional become lesser .
You underscore one of the most critical and primal elements of trading. The inability to A) Recognize your emotions and B) Control your emotions. Because emotions can bring you down in the blink of an eye. Particularly trying to "get even" after a loss. But what I find even more destructive, especially among New Traders, is "exuberance". Not a day goes by that I don't see new traders blustering about their winnings. Like they were in Vegas; thinking that trading is about LUCK or some sudden intangible wisdom that they've just acquired out of thin air. Trading is a SCIENCE that not only deals with understanding and mastering the dynamics of the Market, but of one's self as well. If you don't learn how to deal with both, you're not going to last.
@frankjones4357 absolutely correct. Never take wins to the head, and never take losses to the heart. Just trade.
Are you crazy? You should only start with a 3000-10.000$ Account. Start small at the beginning. If you loose you have enough time to reflect about your mistakes.
Really appreciate your candidness and self-reflection. These are the things most traders normally don't talk about, but are actually more important to success than the technicals.
Thanks for being honest and transparent.
Hey Ross, I’ve been watching your videos for a while now, trying to learn what I can where I can, but trading is by no means my main thing.
I wanted to say that this is the best video I’ve seen from you. People can act however they want when they have a big win; but, to still be optimistic and insightful, focusing on the root of why you do it (your family) gave you all my respect. Good work so far.
I wish the world was made up of genuine Men like your. Imagine how better the world would be. Thank you Sir
I’m so glad you’re showing this. I busted out laughing, not at you but the simple fact that this happens to successful traders too and not just me. I was feeling like an idiot today and thinking maybe I suck worse than I thought. I feel so much better. I’m sorry you had a bad day. I pray we get our heads back on track immediately and destroy the market tomorrow and the coming year. God bless you!
You are still the 🐐. You have inspired thousands of traders.
Best Video ever! Every trader should hear this. Thank you, thank you, thank you! 🔥🔥🔥
Is it too early in our relationship to say I love you? 😂😂😂In this business you are a breath of fresh air! You recommend keeping a trade journal - I create a trade journal by recording my screen while I analyze the trade - gain or loss. It’s been so helpful. And when I do lose - I speak to myself super kindly as if I’m my child self and I made a mistake…thanks for being so candid!
Hey Ross, Ive been watching your vids for a bit now and I like the fact that you share with your subscribers your red days as well! Much respect. I wanted to share with you how I personally get out of this kind of slump that youve been in. Since trading is MAINLY a psychological game I resort to basics and listen to or read trading psychology books or watch the classic interviews of Mark Douglas. Ive seen the interviews WAY too many times and read the books too many times but for some reason EVERY time, I hear something new or realize something I havent been doing to keep FULL emotional/mental control over my trades. And EVERY time, it gets me out of that trading slump. Remember, you can never be too humble in trading. I hope this comment reaches you and you can give it a try. I also hope this works for you as well as it has for me. Happy Trading!👍
I found out through life. that some people are more emotional than others, so teaching how to control emotions varies between individuals. In my case, people find me boring sometimes, because I don't get excited when I win or receive gift, nor depressed when I loose money, I stay pretty much level which is good for trading, meditation and looking at the macro picture helps...People that go to wars present similar behavior, it's a mind set. Love your trading teachings, you truly give back to all of us, as soon as I'm done with the expensive Tim Sykes Challenge, I will join your program...
Just picked up your book! Totally new to all this and have found your videos and the teachings within extremely helpful so far, thanks for that. Unfortunately warrior trading is a bit out of my price range at the minute but hopefully I'll get a lot out of the book and will be able to sign up one day.
I love watching your Videos Ross because you keep Trading Real and demonstrate the reality of Day Trading. I also love your Max Loss Trading limit wif for me is way way less than your Account size. Good bless you brother. 🇺🇸
I'm sometimes shocked at how similar our experiences are. We often trade the same stocks, same trades even, and I'm not watching you live lol. But emotionally, very similar too. Only you've got over a decade headstart in daytrading, so watching these videos can be so helpful and affirming. Thanks Ross
Thanks again Ross. It is literally painful to hear your voice talk about these losses. At least you held yourself in check. Reminds me of drinking at closing time, the bartender tells you to go home but you want 1 more drink! Live to trade another day.
Thanks for sharing! I recently started trading full time options and had my first big loss (relative). Been riding the AFRM rally (which to me is absurd) but anyhow, was up $3500 and didn't take profit; held and then it crashed in a shakeout and wound up losing $1200. I learned that the market is ruthless, that institutional traders prey upon retail traders, take profits often, keep position sizing sane and don't panic LOL. One can so easily get caught up in momentum!
Thanks for sharing your story. Your human after all😊
It takes a lot of courage and introspection to tell the world your shortcomings. I commend you!!! See you tomorrow on Warrior.
Hi Ross.
It is the first time I have seen one of your videos, and what you have talked about is the same as what I have felt, unlike the fact that I had a very big loss to my account more than a year ago and I have not been able to recover.
Thank you very much for putting your experience in this video.
Hi Mauricio! I’ve been there man it’s awful. BUT recovery is possible with discipline!!
Sorry to hear man, really am, but as you stated this is trading. I appreciate your recaps, as the psychological aspects of trading in my opinion is 90% of this. The timeframe of learning the technical are usually only matter of time depending on a person, but the psychological nature could take a lifetime.
I appreciate you showing honesty of where you made mistakes. In this, we have no one to hold us accountable except ourselves. Our payouts are directly proportional to our performances, so we have to be honest with ourselves of when we let things go off the rails.
Smart that you just walked away. Even with a red day, it was smart. Most people are incapable of doing so. It is imo top 3 reasons why most people end up figuring out that (or are forced to figure out) that trading is just not for them.
I have no doubt you will come back at it in the New Year swinging. Happy New Year!
Thank you Harry!
Love how transparent you are bro. Thank you for all you do. This stuff I need to hear.
I had started today with a 7 trade losing streak, hit double my max loss. Ended up making back half of it through a SIDU trade, otherwise I’m accepting red today 👍
I was AT my max loss today. And rallied with SIDU and NVFY (after hours) for a green finish 🏁
I absolutely love this channel and every time he has a bad day and is totally honest about the frustration and everything else it gives me so much hope and I am proud of this guy for doing that. I had a terrible November which obliterated 3 months' worth of gains (-$85,000). I went through all the feels but overarchingly I was fucking pissed off at myself. I took 2-3 days off and in December I've made back $48,000. Doesn't make me significantly profitable for the last 5 months, although I'm green maybe $12,000. It's videos like THIS that allow me to keep fighting through my mistakes. Cheers.
Hey Ross, thank you so much for this video, you literally can not imagine how important it is to see a successful trader speak like that.
In any case, what i was wondering is this: Some years ago as you said you used to trade differently, way bigger size. The green days were huge, but so were the red days. My question is: What exactly happened at some point that you scaled back significantly? Sure its probably a reaction to the markets being a bit weird in the last 1,5 years, but sure there must be another reason? I would be interested to know what that other ingredient is if you would like to share (maybe in another video). Cheers Ross.
Not just an awesome recap....wisdom of life!
Thank you for your experience, the green and the red. It is appreciated.
likewise, I started pretty early but I usually study the market, I have a rule which is to trade lower quantity in shallow market and holiday...1. I would test the water with smaller and have my stop buy planned. It is ok, we will make it up... but I would be extra careful in Christmas and first weeks of Jan
You're great at what you do, so heads up and don't be so hard on yourself. You're a winner in life!
Ross, good to have self-control and discipline. No throwing Hail-Mary pass or revenge trading. No doubt, any trader will have a bad day. The question is how does one deal with it in a calm and rational way is very important for long term success.
This brings to mind so many observations and questions. The first of which is premarket trading. I rarely do it because there's no ability to just throw out a market order if you want/have to get in or out quickly. Then again I usually limit myself to 500 share max trades; attempting to slowly and succinctly achieve my $ goals. But of course this limits those premarket small cap and SPACs with the incredible opportunity they present. Especially just after the 4AM and particularly 7AM period. I've been watching them for years now. I've been following you for quite some time Ross, and have always been amazed at how you master trading this segment of the market. It's intriguing to say the least.
I thought I was the only one that went through this personal anguish on red days. It's tough to walk away. Thanks for sharing.
I had the same entry in NVFY today. I am new at trading so I usually do not go in with more than a $1000. But it dropped so I averaged down with another $1000, it kept dropping and I was pissed. I kept averaging down until I used all of my trading money in that account which was $5000 but I was down $1600 at one point. I chose not to get out when I had the chance and stayed until end of day. I sold one more stock I had for $1000 and used that to average down. At the end of day NVFY went up to $5 before close and I got out with a $680 profit instead of a $1000 loss lets say. I was super happy. I also expected it to move AH but did not risk it, It went to $8 AH. Could have held but it wouldn't be my rule. Overall stressful and I prefer not to do it that way since I was stressed all day but got rewarded.
I used to average down in the simulator and always was 20 green days in a row. When I went live with lightspeed that average down cell phone app play away behavior absolutely stopped.
Wow you really did get lucky if you held it All day😮 that doesn't happen much
That’s good. You get immune to it after awhile which can be a good and bad thing.
I am watching you from the sidelines this morning - saying don't do it, Ross, as you were debating another trade. You followed your rules and stopped! Nice job.
It’s almost like we put ourselves in Self Destruct mode.
Thanks so much for sharing these human moments with us dude
Great video recap as usual. Red day happens it’s just a part of trading. You got this Ross! I took a piece of that amazing runner of CING so I was able to finish the day in the green.
The wisdom to be gleaned by your trading history experience. Thank you!
My underlying motivation to learn to trade is to diversify income streams. This only strengthened this year when I saw my husband get laid off, and it wasn’t performance related. The job market isn’t great so it hasn’t been easy to find a job with an income like the one he just had. It’s rough, and companies are not going to be there for you. It’s the same stretch for self-sufficiency.
All of these things happened to me today. But we live to see another day
I don’t trust any trader on RUclips that doesn’t show losses.
“Gosh darn it” 😊
I have lost thousands of dollars that is the key to becoming successful
My new job after leaving the medical field was ….trading. I started from scratch, didn’t even understand what a stock really was. Now I trade everyday and I am just starting to figure it out and increasing my share size. I am 66 started a couple of years ago. I enjoy it. I do feel like I could do it well into my 90’s. I have longevity on myself side.
Watching Ross's Recap and simultaneously trading is like watching a superhero movie and then having the opportunity to be that superhero (but failing miserably). But great to see there are some similarities!
Thank you for the awesome recaps!
thank you for this, this encourage me to not to give up!
today sucked! ready for the new year...
Question: since you dont seem to use hard stop loss (I guess pre-market trading doesnt allow it) do you apply a rule of xR you bail out break-even? My trading plan sets me up to a 2R or 3R Sloss-raise to break-even (hard one, into the broker system). I'm a swing trader mainly so thats the big difference but still a ruleset like this can apply in your trading enviorement as well.
This was a timely video haha I'm having a red day myself. Had a couple calls expiring tomorrow l, otm now because of the morning selloff, but luckily snagged a quick put to cover the losses. Hopefully tomorrow's a better day 🤷♂️
Priceless! Very inspirational my brother.
You know I've been watching you for Years Ross, and you're one of the main reasons I started trading. I know you trade and invest but, Have you ever thought about trading larger cap stocks. I understand that your scanners and your strategy are proven to work. I am curious, though. Love the videos and the transparency. Thank you. I know you've talked about Large caps in the past and on days Like these I wonder if you ever get that feeling of changing at all.
such a great video!! So important to see the hardest part of being a trader, stay true to your rules!!! This is everything!
Think I Bought wrong stock once cost me 20 bucks. I'll never let that happen again, Thanks Ross for your honesty again. May the bell ring in our favor
Thank you very much Ross for this video it really encourage us.Speaking about mistakes and losses very important it is my 10th week I have no losing week,except one trade that I did in 7 of december and still holding this disasterously shorted stock WBUY,off course trades that I did since 23 of october more profitable than loss of this one trade that I still holding,but it shows to be really profitable trader requires extremly well balanced emotional attitude,THANKS!
One trade a day,just manage the units buying and selling .take your loss and wait tomorrow when you look at a $600 day loss one or two and you have a $2k - $8k wins you are ok with those small losses
I feel your pain. I'm still trying to figure out what happened with CING yesterday. It held all day...soon as market closed, it flew!!! No news or nothing??? I just sat there and watched waiting for a trap that never came till around 1930 last night...smh
Thank you for sharing this with us
06:59 I have the same emotional impulse response like yours, except I'd be getting back into the same stock, on the same side with the same size. and it happens RIGHT after the 1st stop out
watched the whole video, thank you for speaking your heart out about trading. I feel the same. can't switch off even when mkt is closed. always thinking how I can get better
Thank you for sharing your loss it helps a lot of people 😢.
@Abel... I've had three different folks say avoid holiday trade or very little trading. My two best days in 2023 were Tuesday and today. I'm on a 4 day green streak in a cash account. Usually, with respect, it's the trader. Today, all premarket, too
Thank you Ross. I learn so much from you and I can relate to your journey. I'm super thankful for your videos and all that you do. Your beard looks amazing btw...
Really cool talk!!
Hey Ross !! Can you make a video about emotions behind taking profit ? I am breakeven trader and unable to grow account because always trying to hit home runs !! Very difficult to get out of the loop.
Great Video! Thank you!
Today was brutal. Usually I do very well in a consolidating market but this was different. Of course every loss I took could have been at least breakeven if I had patience
You seem to have bad days which match with my bad days. For me it was LAES in pre-market session. I made two solid profitable trades (2.66 to 2.93, and 2.50 to 2.66) then I got cocky, ignored my rules and tried to buy after what looked like a panic sell-off. I sat and watched as it climbed, but felt it had more to go. It was very volatile, and the price was bouncing from solid profit to painful loss in the space of seconds. Then it decided to resume the panic sell off, and as it was pre-market the "Market sell" button was not available. I had to guess where it would be out two seconds later, but it was falling fast. That loss erased all my gains, and took another bite. I ended the day negative.
I decided to scale way down, and play with some trading ideas that I had been considering. But because the share count on the later trades was 1 to 70 shares, they obviously could not erase my loss.
Scaling down is smart
No need to feel bad Ross. Isn't it a typical bad day that happened to all of us?😅 The most important thing is know when to walk away😊
Great video, thank you for being sincere. Hope for best of all for you !
Excellent video Ross Cameron
thanks for doing this! only videos where you are winning does not teach as much as the whole experience
Thanks for posting. I don't trade your style (more high alpha swing trades) but, I appreciate your no BS breakdowns. Feel like you're a fellow in the trenches even if we don't trade the same. Still supprised you trade pre-market since the vol is kinda low.
Setting a daily loss limit was the best thing I ever did as a day trader. I have mine set at below my average green day.
Appreciate your honesty brother
I just bought your book and I’m on discipline page 38, thanks for being brave and making this book mentor Ross #warriors
Hey that’s awesome!!
@@DaytradeWarrior thanks, but you are… and happy new year Ross 🎉🎈
Thanks sir for the recap
My. biggest red day today $3300.00. Only been trading 4 months seriously. Not trading tomorrow. Need a break. I know everyone has losses but it sure does stink. Thanks for sharing yours Ross.
I managed risk by refusing any stocks over 5 cent spread. As u can imagine that was most stocks today and the last few weeks. I have exceptional success premarket. I used to get up 1am San Diego but literally lost my memory for 5 minutes one morning. Couldn't name anyone at work (except a supervisor who incidentally is why I'm trading full time later 2024 and saying good riddance to her)
I watched a video of yours yesterday where you talked about your mom and her negative view of money and how you had seemed to incorporate that view of scarcity, etc yourself. I wonder if you’ve entertained the idea that you purposefully (subconsciously) botched those trades. One of my big moments was being up over 3k on PWM’s ipo and somehow walking away from that trade a couple hundred in the red. I watched it drop for days before I decided to sell and I thought, for some reason that I’m unaware of, I intentionally did that because for whatever reason I didn’t feel like I deserved the profits. I still shake my head at that trade, but I also use it to remind me as I go forward into other trades.
Great insights!
Ross goes big bad
Yikes Ross Boss. Happy birthday. 😥
I remember that day, but kinda remembered it being over 100k. Forgot it was over 200k.
Great video again Ross, thank you. I was red on the day as well till the market close. Then, I saw this massive move AH on NVFY, I was able to jump in on the pull back and finished bright green 🙏
31.00 win is embarrassing, I'd love to have it! 😄
Thanks so much for sharing! It really does help to hear that even a pro has the same kind of bad days that I do in trading.
Ross thank you for teaching me how to fish I have talked to my son and daughter how to fish.😊. My Hope is it will feed them for a life time 😊
Good stuff, thanks Ross the Boss ✌
I did the same thing, kept taking the wrong ticker, at the wrong time...............................
ohh man, I'm just doing every thing you did, I'm exactly following your steps and proud 😃
I lost $6600 today also Ross so I can relate! I held on down $2200 hoping it would go back up and it just went down slowly.