Day Trading Stocks (Focus On Momentum & Small Caps) | Alex Winkler | Skillshare

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Day Trading Stocks (Focus On Momentum & Small Caps)

teacher avatar Alex Winkler, Consistency is king

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Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

15 Lessons (1h 29m)
    • 1. New Intro

    • 2. Systems vs Goals

    • 3. The Right Mindset

    • 4. Refine & Test The System

    • 5. Most Import Skill

    • 6. Risk Factors

    • 7. Allocation (The Simple Secret to Risk Management)

    • 8. Risk Reward Win Loss

    • 9. Time of Day

    • 10. Checklist Overview

    • 11. Tradable Stock Checklist

    • 12. Pre-Market Checklist

    • 13. 3 Example Stocks

    • 14. Checklist entry exit

    • 15. Conviction Ranking

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About This Class

In this class, I'll go over everything that I do to consistently pull profits out of the market.

In the videos, I provide the groundwork and foundations you need to start the challenge yourself. You'll also be able to join me on my challenge as I go live every morning at 9:15 AM EST to trade the market open. Plus inside Skillshare you'll get constant updates and new lessons that find worth sharing along the way.

Slides & Checklist PDF



Videos are for educational and entertainment purposes only. Equities, Futures, Options, Crypto, and Currency Trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. I DO NOT, recommend to buy or sell anything mentioned in my videos.

It is proven that most traders fail and this is not an easy path to take. It will take lots of practice and studying until you start understanding all the different moving parts and develop a strategy that works for you. However, I believe anything worth pursuing is not easy and has a learning curve that first needs to be overcome. 

Meet Your Teacher

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Alex Winkler

Consistency is king


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In October 2018, we updated our review system to improve the way we collect feedback. Below are the reviews written before that update.

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1. New Intro: Hello. Hello, guys. Welcome to these small cap and day trading course. Welcome. I'm super stoked. Abby. Here, let me quickly switch my screens and talk a little bit about who I am. Eso meet your mentor a little bit here. First of all, my name is Alex Winkler. You guys might know me from my YouTube channel or some of the other places. I have some other courses, Basically, in a nutshell. I was born Germany group in Florida. I studied in New York City. I was a full time trader starting in 2020 13. That's actually when I met this guy, you guys might know Jim Cramer on the floor of the New York Stock Exchange. No, I didn't trade on the floor. I didn't really know him personally. I was actually I saw him and I ran up to him. I was like, Craver, can I take a picture? That was me. So Yeah, but that was my life. I was I was trading every day. I was in New York City, and that was kind of my network, so Yeah, after that, though, after I finished college and I was living there for a little bit. I was like, What do I do now? You know, I'm not really working here, per se. So I started travelling Europe in Africa. For three years, I've bought a car in Poland and it was just nonsense. From there on out, I was trading on the side. I had my side investments as well. I was managing. My company has software company and slow. You guys might know I'm also a software developer. And then at one point, our company actually paid out a lot of clients in crypto currency. So I expanded to crypto currency applied by trading strategies to crypto currency. And I was actually to make a nice return on that on I actually made a fund, the Winkler Capital L C Crypto fund. Anyway, Ato, one point actually started documenting everything that I do online with my trade journal and some of my other Google sheets. I start then kind of publishing everything, and eventually I made a proper crypto trader course that is also here. And anyway, that course got over 200 users bunch good reviews by 2020 with almost no marketing. And from there on out, I just kind of started sharing more and more that I do and, you know, getting back into day trading full time. I love it so much. And, you know, I was like, You know, what I'm gonna share? Everything that I do here is well, not just is a kind of cement, a path for me And with trading, I think it provides a kind of a good network where I started learning from everyone else as well. If there's one thing I wish I could have done earlier besides, you know, studying my past rates harder and seeing what other people were doing a little bit more that could benefit me a little bit is really growing my network from the first day on out. So that's what I'm doing now. It really makes it all more fun and much more educational. And yeah, I mean, that's that's the whole point of everything. So if you guys, I think I need to click here. Yeah, this is my YouTube channel, if you guys don't know. But we trade live every day. So if you guys are interested in war, live videos, check out channel. But here, we're gonna be talking about day tree. We're gonna get the fundamental. So you guys know everything that you need to do. This course is really gonna be focusing on. I'll say this a little bit more later, but becoming self sufficient, you should not have to rely on anybody else. You shouldn't have to go to some buying some stock tips or something like that. It's not necessary. So that's really what we're gonna be focusing on. I guess that's the why I kind of skipped ahead of your little bit, but basically the what we're gonna be doing Small cap stocks, stocks that typically are under $500 million. We're gonna be looking for momentum stocks. There's two types of momentum, I would say micro news. So new specific to the company. D G L Y was actually a company that took off this night was two weeks ago and they made camera equipment for police officers and during oh, I just realised faces in the way. Apologize for that. And when um, here there we go, that's a little bit nicer. So when d g. L. Y was flying through the roof, they had my produce because they came out with the's kind of police body cams, but they were also flying through the roof because this is the time there was a lot of protests going on. So now they have micro news and they have a giant macro trend behind. We've seen the same thing with electric vehicles with E cigarettes, all these things. Three printers. You know you'll have macro news and then you have micro news. It's really nice to put those two together anyway, when you do put him together or even just when there's only micro news, get the gap and go strategy. All these things we talk about so much more. So that's just what we're gonna be doing here. It's a beautiful thing. Honestly, small caps are like heaven on earth, especially after you trade something slower, like large caps or crypto crypto so slow compared to small caps. This is really for all levels of people. If you're totally new, we're gonna give you a lot of foundation stuff. But if you're experienced trader and you want to learn the gap and go strategy, then you could probably zoom through some sections quicker. But you're gonna understand what we're trying trading your on us understand this. Stay scanners I'm using and left on stuff and then, you know, put it together for yourself. This is all about becoming self sufficient, rarely active, many courses in my life about day trading, and rarely do I find a course that makes you self sufficient. There's always an up sell or something like that. That's that's in this course. There is no up colleges. Here's the foundation doing with it what you will on then you don't go from there. So I hope that is a big take away and the class project. Honestly, build and learn and refine your own trading strategy is going to be the main focus here. Everyone has a different style with trading. Everyone is a different person, and it's hard to just, you know, be like, Okay, you're gonna be a breakout trader. That's it. That's it. It's like, No, I'm way too not aggressive for them. Way too conservative for that. So find your old thing in the class project is gonna be all about building system so you can figure out your train strategy and they're refining from there. There's one more thing I think I wanted to talk about here, and that is the quick breakdown. First we talked about a little bit of community, live trading and all that fun stuff. We're gonna be talking about the systems versus goals. A big thing about this course, the most important skill with trading hands down that a question strategies obviously overview, scanner rules, checklist, etcetera. Study material that I like to use. You know why I explain that if I've found a resource that does it very, very much better than I can do patterns. Obviously, the key patterns are very important. Brokers of brokers. I use SEC filings. There's a few that are kind of important to know about a big thing in this course guys, you know, doing the course project that is, I think, really, really important and of getting involved and asking questions. It's This is kind of one of those courses where the more you put in, the more you're gonna get out. You can kind of just watch all the videos and then forget about it. Or you can watch all the videos, do the course project, get involved, and start learning, learning more, and you're gonna be like, Oh, my God, like every week it starts making more and more sense. So this is really the foundation course that you can build off upon. So I am super Soto. Have you guys here? I'm ready to slam out some more or less. It's going to be really, really good fun. I can't wait to see you guys in the next video. So stay tuned for that or I guess go to the next one and I'll see you guys there. 2. Systems vs Goals: Alright, guys. So welcome back in this section or this slide, we're gonna be reviewing systems, verse goals and how we're gonna be focusing on systems rather than the goals in this program. Quick little definition. Here it's system is what you could do daily to improve your skills as you grow azan individual. And while the goals are kind of short term and long term benchmarks, but they have no real meaning. And you guys probably know this in personal life or you've heard stories of this where somebody gets a new car, they get a new promotion. But, you know, besides that Russia, Yeah, I got it being happy then right afterwards, kind of being depressed again, being like, Oh, man, you know what's the next thing and then just kind of always being the state of not really being where you want to be here was kind of chasing your goals rather way. Want to really focusing on what can you do every day to be building a system where you could obtain your goals, but rather every day you are, you know, doing the right thing. It's like if you have a goal, let's say of making $100 a day, and I get this question a lot. What is your goal, Alex? What? How much money do you want to be making a day and it doesn't really matter. I mean, yeah, it would be nice to make you know, let's say, 10% of your average position size, which during the $25,000 challenge was about $1000 Position sizes. So making $100 a day would be, You know, that would be pretty cool. But focusing on that would start the day off instantly in the negative zone. Yer you're not yet there. Or I can say I'm gonna be focusing on whatever the market gives me. I will be focusing on trading the best I can. And, you know, sometimes the best position is actually cash. So if I don't trade all day where I walk away, little bit probable, that can actually be much, much better. Or, you know, if I was focused on that goal, I would be maybe taking bigger risks to hit those goals and then be tripping over myself. So that's what I want to be focusing a little bit on systems rather than goals in this program, and we'll talk about a few ways to do that. Here's a little tweet I made. You know, if you work on your system's the best. If you work on your system, the best you can every day, then tomorrow and your goals resolve themselves. And I think that's a big, big philosophy that I find quite important. It's actually talked about quite often in a lot of studies. You see a lot of YouTube videos about it. I would give it a little bit of research on your own time. And so do you think leave a comment below. I'm always interested in here. Would you guys think? All right, let's go to the next light. I will see you guys there. 3. The Right Mindset: Alright, guys. So in this life, we're gonna be talking about getting to that right mindset. And for that, we're gonna be using the course project and this whole entire course project, which I think is somewhere below. You can see the link that says I think course project. I'm not totally sure all these all these interfaces always switch up, But basically, it's all about growing your own or starting your own trade journal. Now, this could be done with a piece of paper. It could be done on Google sheets. We have a whole tire Google sheets template you guys can download or you can just start one from scratch. You know, play around with it or you can use trade journal dot co, which is a free website to document your trades on or a free platform. Then what I like to do is I like to daily review my trades actually do it before the market opens. I document anything I miss from the day before I review those you know, those takers those traits and then ideo And then I also do monthly reviews where I go through all of my trades that month and sometimes last quarter and sometimes the last year . I just kind of go through all the statistics. See what patterns were working. Really, really good. See if I can identify some trends, see where I can make some adjustments to my rules. And I found that to be really, really helpful system. That's why again, I was stressing that this isn't just like a course that you go through. Then you put away. This is something that was you with the course project you're gonna be doing for pretty much probably the rest of your training career. The best traders are always going through their journals, always reviewing, and you know what they can do better. And this is exactly like we were talking about before where you know a professional athlete will go and review one of their last games with the team and try to figure out you know, what they did right, what they did wrong, you know, How can they improve defense or what Not so focusing on building a system that can reach your goals. Let's talk about this for a second here. Even though we did kind of mention a pretty feeling here, building that system is, you know, how can, like if I want to. If my goal is getting a, let's say, over a 60% win loss ratio, so you know, thinking about how can I increase that win loss ratio? Well, you know, think about now. If you have a trade journal, you can go back to the trade journal. Maybe you can identify that all these patterns, and we'll show you some statistics later. All these patterns, let's say breakouts for me, especially a lot of beginners on me. When I was learning the gap, those strategy, I was horrible. A trading breakouts. I'm still I really that great at it. But identifying that so they're certain breakout patterns that tend to do really poor for me. Just, you know, cut. Cut those out. You know, even if it's if it's like a 40% win loss ratio, then it's It's not really worth it for me to even trade that pattern. So just, you know, going back reflecting growing, you know, improving your system, you can you know, you could basically start adjusting your trading strategy, and that is how you can reach those goals much easier. Maybe even beyond that, I don't. Your goals are very like these art art of arbitrary artificial limits like you really seven yourself. So focusing on that system again rather than goal. How can I make more money per day? This is a big one like we talked about before. You know, if I want to make $100 I have some pictures about this a little bit later. But if I want to make, let's say I'm making maybe $50 a day, but I'm having these pretty sweet 5% traits we'll have to do is go from, let's say, 1000 our position size to $2000 position size. And then already I'm going to be making that, you know, $100 a day. And then so what? It's all about continuous growth growth rather than a final result. It's very easy, especially as a new traitor to just kind of go into it to be like, I want to make that $10,000 day. I want to do this. I want to do this, but you know you're gonna overwhelm yourself. You're not really gonna know where to start, but I know where to improve folks on, you know, like Okay, well, how can I first, you know, find some stocks, then you think about building a scanner and that we're going to talk about all this stuff later and then, you know, how can I tweak by scanner? So you're just always tweaking stuff that way. It really reduces stress and kind of having this anxiety where, like, I'm not there yet to Well, I'm actually much further than I was yesterday. And if I keep working on this every day, I will reach all those goals that I, you know, kind of set out for myself. So an experience, a trader will always be evolving and adjusting their strategy. First, you gotta understand your personality type. You gotta understand. Like some people are more aggressive. Some people are really, really conservative. They like buying those dips more often. You know, problem like that's a bit more like me. I don't really like buying those really, really aggressive breakouts. I try it every now and then, but if I try it, I'm really conscious on the fact that it's not my best strategy. So I was treated with smaller position size that way. If it doesn't go right, it doesn't really matter. Does go right. Well, hopefully I didn't have that foam. Oh leftover. So at least I took took action. But I'm not really risking anything too much. That's, you know, understanding a personality type is very important. Risk award preference. That's just, you know, pretty pretty straightforward. Are you looking for those bigger trades? Are you looking to make three times that? Your risk? Are you looking for those? Maybe quicker scalpers like 1 to 1.5 risk reward. Honestly, with day trading, it's having a tighter risk. Work sometimes is a good thing, because oftentimes you get a nice little move to the upside. And, you know, maybe sometimes all goes is 345% and then it shoots back down. I've had so many trades where I was up 5% before. You know what? I closed for 2% loss. So sometimes you know, having these tighter risk awards, I understanding Are you swing train every day Trade. What are you doing? What kind of pattern is is what's the average result of these patterns? So understanding all these things and finding your preference position allocation. That's a big one. We're gonna be talking about a lot different market conditions as well. I mean, you know, these are all things that with time start kind of becoming a little bit more straightforward and make a lot more sense. So let's go. I'll see you guys in the next video. We're going to kind of keep talking about this mindset and what you guys could do right now to improve it. 4. Refine & Test The System: So here's the best part you might be wondering. What can I do right now? To become better? Try to, you know it's gets that next level. Well, you're already doing it when you're not trading. You want to be studying, you want to be refining your system. So right now your system might be if you're totally new, never traded before. This is your first time really, ever diving into it, then that, you know it's probably have like 0.1%. But you are right now refining that system. You're building that system out. There's lessons everywhere. YouTube is full of them. Have plenty of videos alone on my YouTube channel, you can reserve reviewing your past rates, making account on trade drone dot Co. If you are interested in that platform or there's plenty of other websites out there, just google it or use a piece of paper. You know, whatever it is that is the least barrier to entry you don't want to like, you know, stress yourself out. You could always improve. You could always change, but just kind of get started somewhere. So you get least improve something. The next day, learn from other traders. You know, don't just follow me. I'm just I'm just one guy doing one thing, you know, or like a several things. But you know, I'm right now. I'm focusing more on the Gap Go strategy. I have some swing trades. I was have some long term portfolios as well. But you know, I'm just one perspective. There's many, many good traders. I follow several traders myself on a daily basis. I love learning from the people and in the community itself is just a ridiculous storm of kind of constant information, especially on the Livestream chat room. Be a little careful, though, if you're falling so many people you don't want, especially if we knew there's nothing wrong with, like trying out a bunch of different stuff for maybe several months or so. But, you know, if that goes into a year, you're gonna notice you've made a very low progress. You might have a little bit better understanding about several things, but at one point you want to kind of pick something. It's very easy to think, you know, the grass is always greener on the other side. Let me try this and try some of that which is good for, like, a general education. But the end you you need to specialize. You want to, you know, figure out one strategy, really, like, regardless, what it is and then really start honing in on that for a least 66 months. I would say, at least I think three months we're gonna start seeing like, bigger improvements. But at six months, that's when things are really going to start clicking. So just keep that in mind if you want to trade options or something, or if you want to trade, know folks ongoing long stocks or you're shorting stocks like just keep practicing that thing for at least six months, give it some time and really just focus on improving your strategy every day. That really comes from reviewing past rates, seeing what other traders air doing. There's really just lessons everywhere, and then when your trading, you know, test the system, you know, put it to the test. It's kind of like a stress test in a larger company. Work on training your discipline muscle like cutting losses quickly knowing went to take profits averaging out. You start, you know, if you're up 345%? No, Sometimes just take half position size. That way, you're gonna get in the mindset in that kind of muscle memory to take profits. And trust me, no one has ever gone broke taking profits. So that is a really, really good kind of strategy. But you know those things you can always tweak. So if you just, you know, practiced a few times, try it out, Then start tweaking. If you know if you're taking profits too early, even give it a little bit time or learn how to average out a little bit slower walk, work on following your rules and amending rules. If patterns emerge, there is, You know, if what I like to do to start a trading day is, I was like to start my first few trades with half position size. And then, as I noticed that I'm kind of, you know, on getting into a groove. Then I like to get a little bit more aggressive, so kind of understanding that there's a pattern there, and that's like super intraday kind of pattern. But overall, you know, if I looked due on a monthly review and then I noticed that this trading strategy, Let's say I don't know, just call went out like a head and shoulders pattern or something like that. This one, I somehow I'm wrong, like, 40% of the time. Well, maybe, you know, can I review all my trades off that a specific pattern and figure out why I'm always wrong and then maybe change that one thing? Or is that pattern just not? Doesn't click with my head, meet personally, and then maybe I should just cut out that whole pattern. So it just constantly reflecting on yourself, being very conscious on who you are and what you're doing. And then, obviously the general general patterns of your traits. So work on filling your rules and amending and amending the rules of patterns emerge that we've talked about. Beware on focusing on arbitrary numbers and goals. This is something that I really can't focus on enough. I've had many just I lost count, almost like anybody that starts trading for the first time, and I'm guilty of this many times myself into this day. They want to make $100 or they want to make, let's say, $1000 on the day s O. So they're trading now. They're in the trade. Make the last train. There is, like $900 they're like, let me just keep holding Let me just keep holding. I'm not trying to be greeting necessarily, but I just want to keep holding a little bit longer so I can reach that $1000 a day. Your are now thinking about something that has nothing to do with the actual trade in front of you. Maybe that trade is showing clear signs off. Take profits because, you know, buying momentum is getting weak. So take those profits and you're getting you know, you're not thinking about what's in front of you. You're thinking about these arbitrary goals and numbers that have nothing to do with the actual trade, and that will put you into some slippery positions. I know it's happened to me a lot during the $25,000 challenge where I would be like I would only have three trades a day, and then I would be like, Okay, well, this trade, I would probably get out right now, but it's my last trade on the day s o. I can't make it any more trades after this, I'm gonna hold it and give it a little bit longer on. And then boom, All of a sudden I'm bread like, you know, I would definitely sold that. I didn't really like what I was seeing, but it was my only trade. So, you know, sometimes it's in your power. Sometimes it's not. But, you know, try Teoh. At least be conscious on the fact when you're no longer trading because of what's in front of you, your trading because of something else that you would like to accomplish or some other reason it's that's very, very important. So that kind of wraps up this whole kind assistance for schools thing. I hope it makes a lot of sense again. The Comets blow. If you have any questions, let's go to the next part. The most important skill 5. Most Import Skill: All right, guys, welcome to the most important skill on day trading, swing, trading and probably, you know, are investing as well. Risk management is just it is hands down the most important thing. You know, looking back in my whole entire trading career, especially in the beginning, I meet most of the biggest mistakes because my risk management was just non check. Especially like the first year or two where I didn't really have a mentor anything. And then, you know, sometimes I would just start holding a stock and be like, You know, I'm just gonna hold this eventually is gonna go back up months later. You know, the stock is delisted. I'm like, Wow, that was a serious lots. So that would have never happened if I had risk management in check. And that's why it's so It's so important. There's also, you know, some quotes like survive until you thrive a lot of times with trading. You just you know, sometimes you go through some rough patches. Sometimes you're not in a groove. Sometimes the market's just not giving you what you want, but as long as or you know, like what Two months ago, I had tonsilitis. And after that I was a very slippery trader for like 46 It probably even like eight weeks. It took me a wild, somatic kind of mentally recover. But it wasn't really that bad because I never lost that much money on. And I still had consistently green months just because I wasn't taking any unnecessary risk . And then, as I kind of you got my confidence back got more aggressive again than you know, Then comes the driving part. So, Aziz, long as you don't blow your account or do anything silly or take any unnecessary risks, then you will, I think, become a consistently profitable trader. All the quicker there's a quote. I'm not even sure where this came from, but I hear it all the time, so I'm definitely paraphrasing this one. Traders traders think about how much they can lose while gamblers think about how much they can win. So when you enter a position, you should always be thinking, you know, where is my stop? Where am I gonna get out of this trade? Obviously you want to be thinking about you know, where do I want to take profits as well because, you know, if you hold a winning trade too long, sometimes they end up his losers. That's very important. But you always want to be thinking, What's your Max loss? That's a lot of times when you know when you're day trading and somebody's like while you're putting $50,000 into this trade just to make 1000 are okay. That's probably bad example, but you often times I put $1000 to make, you know, 50 to $100 which sounds a little bit better. But I'm not really risking $1000. I'm risking what my stop is. My stop is usually pretty, pretty tight. We're gonna be talking about all those stopped levels in a second. So let's keep going here. There's a if you really risk factors to consider, and we'll talk about those next 6. Risk Factors: Alright, guys. So here's a kind of smallest off some key risk factors that I would definitely consider. I might be adding to this. So if you see like a new video out on a new risk factor just, you know, kind of a rewritten one, they'll be surprised. Like I said, this is gonna be constantly involved in courts. But, you know, after thinking about it for quite some time, these air really the main ones I would probably consider. First of all, allocation position size. This is Sochi. We're gonna be talking about this one first. I mean, this is like this secret sauce to improving your risk management overnight. There's so much I can talk about allocation. But this is just so, so, so important. I think there's a interesting statistics on a coin toss. And basically, even if your winnings ratio is or coin tosses 50 50 there's gonna be times where you have statistically, like five plus bad trades in a row. And it's it's kind of often, actually, was surprisingly often. Eso, you know every week or do really depends how much your trading every day. But let's just say every week you have those traits where you're making five losses in a row, which is not unrealistic doesn't happen all the time, but it happens. So if you're using 100% of your account portrayed, then you could instantly really, really ruin account. It's much harder to get account back up because now let's say you lost, you know, 50%. So you went from $100 to $50. You have to make now 100% back to go from $50.200 dollars. That's why you really, really want to avoid over allocating in anyone trade. It's just it's just a recipe for disaster, and it's also gonna make you trade much, much worse, because you're gonna be very emotional on every trade because it's going to be so important on. And that's just a really big recipe for disaster. Time of day is obviously pretty important. We're gonna talk about this much more morning, noon afternoon, extended hours. There's all different kind of things to consider For each one negative win loss ratio, you know which patterns maybe have the best or worst win loss ratios. To me, this one is it's kind of one of those things where sometimes I actually have a week or so where I have a I even had a month where I had a negative win loss ratios. So I had more losses than I did wins, which sometimes it's a little baffling. But then I would still have a green month because my risk reward is really, really on point. So just kind of understanding, you know, Are you going down Kind of a kind of slippery slope? Are is they're kind of something holding you up. So it's sometimes really good to be kind of aware on your win loss ratio. And if it's negative, what do you doing wrong? Maybe there's a whole entire pattern that you can just cut out because this pattern alone, that's way too much risk to your overall trading strategy. Market conditions obviously very important. In the beginning of 2020 we had, like three months of just big red markets, which was okay because you're day trading and like we're talking about, volatility equals opportunity, and this isn't always a bad thing. Actually, March was one of my best trading months, but you have to be aware of what's going on We had multiple days where the whole tire market was just halted because the whole market went down over 7% and have the circuit breaker halt. So you know what are the obvious market conditions? Obviously, I don't want to be entering into small cap right before the whole market, you know, goes on gets frozen. So you just got to be aware of those. This isn't usually the most important thing, but like one of those things you should always be kind of aware of news of catalysts. You always want to be trading a stock, typically with a catalyst, but you don't want to be trading a stock that's about to come out with a catalyst, at least for me. That's That's my personal take on it. We'll talk about this a lot more liquidity. What's the daily volume of a stock? Can you get in and out of a position very easily? I don't like really like trade stocks under 10 million dollar volume being traded, so I want to be able to get in and out of a stock fairly easily, and I don't want to be moving the stock myself with my own position That means if the stock if the price starts going against me, I'm gonna really, really take a big loss. So I want to be trading a stock where I can get in and out with you around $50,000. A very, very easily. Yeah. And mental fatigue. There's I usually stop trading by around noon. Oftentimes, I stopped trading around 11 because by that point, you know, I've been right now, especially when I'm in Europe. You know, I've been working all day and at noon it's 36 p. M. Local time. So I've been having a full work day. I've been trading for maybe two hours. I've been streaming had the light in front of me. I'm exhausted, right. And I am no longer making good decisions or decisions that the type of quality decisions that I was making at the market open. So that's something to be really conscious about. You're just overall kind of mental state, you know, Maybe you're having foam. Oh, or maybe you had a few missed opportunities. Now you're having a little bit of foam. Oh, and then you're going to kind of do get a little bit of kind of emotional entries because you're just like, you know what? I'm gonna finally get this one and then boom like that was not the perfect set up. You missed the perfect set up, and now you're trying to do a little bit of revenge trading. So just really understand your mental fatigue. And I think with every trade, you're moving into a different direction. Sometimes your confidence is growing cause you had a few good ones in a row on then sometimes, you know, a few bad ones in a row. It's a slippery slope. That's why I also have rules on when I stop trading. All these things will talk about. But these are all risk factors to consider. Let's dive into allocation and yet go from there. 7. Allocation (The Simple Secret to Risk Management): alright guys. So as I already mentioned, allocation is is honestly the very simple secret sauce to risk management This if you could just figure out allocation, you're never really going to do anything to silly like blowing account, I think because this was this was something that took me a while to kind of wrap my head around. Maybe because no one really ever told me point blank. But yeah, So trading is kind of a numbers game, right? Just like poker, where there's expected value on kind of every hand. So if you have positive expected value our equity in a hand, then you know you should go ahead and proceed with that hand and play. But if you don't, then you should go ahead and fold. It's not that simple, but it's kind of what it boils down to. So, like poker players, it's not really about being right or wrong. It's kind of playing the odds, so this pattern I know you know, has a higher chance of breaking out. Plus, if it goes to the downside, I know my risk and reward is, let's say I don't know my 123 let's say a perfect example. Eso If it goes down 10 cents, I'm gonna cut it. And if it goes up 30 cents, I'm gonna take my profits. So over the long term, even if that is a 50 50 win loss, you know, pattern, you're still gonna be profitable on it. An allocation kind of feeds off that the more you trade, the more money you're gonna make. Sometimes you have a bad streak. Sometimes you are on a good streak. But if you are always allocating properly, you're never going to eat up too much of your account on one of those bad streets. That's really what it's about. It's avoiding those bad moments nobody wants, you know, necessarily losing train. Nobody wants to be on a losing streak. Nobody wants to ram get halted into because of news just came out. But it happens, so we have to plan for that ahead of time. So let's kind of go to allocation Part two. How do I do that? I think we click somewhere over here. Yeah. Oops. Sorry. Here's the ambulance again. If you're my life streams, you probably know all about the ambulances. So there's that some additional benefits to proper allocation, and one is it just produces your overall stress. If you are going in with your full position size, you're going to be, you know, chewing your fingernails off. If you're going in with money that you need to, you know, pay for rent or something like that, it's gonna be affecting your trade. So you small position size, especially at first on. You're gonna be very happy and much happier trader on and probably have better blood pressure as well. Like I said, number to reduce risk of one trade blowing up on account, being stuck in bad news. Halts happened. I remember. I think it was. I think it was in February. I would have to recheck this figure 2020. I was stuck in to halt all the way down after an offering came out. So the stock the company was like, We're selling shares into the market. Both times I think the stock went down like 50% or so. It was just miserable. One of the times I got out on a massive bounce, which was really nice. I think I took like, 2030% loss on it. Andan the other one. I think I was just It was just like a clean 40 50% loss. I got out on one of the holes and I just quickly got out on and then it kept on going down . So you really have to watch out those air like worse force case scenarios. But they haven't imagined I went 100% into that trade. It just it just really a place you don't want to be. Also, like I said, less emotions in a trade in the morning trade the price, less emotions, any trade, the more you trade the price action on, not your emotions there should. There's a common missing in there, but basically the less emotions that are tied up into a trade because it's, you know, so much money. And, you know, you're you're like when it goes up $10 $20 or $100 or $200.500,000 doesn't really matter on your thinking like old like that money I need for this or, you know, that's a very emotional way to trade eso. The less kind of emotions you have on any trade, the more you're focused on the actual price action in front of you and not reacting to your emotions. Also allocation. Like I said before, it's so important to avoid those rough patches. I've yet to meet a trader who hasn't been on some sort of slump, some sort of rough patch. You know, if they're breakout trader on Ben this whole month, breakouts didn't have sold through. You know, they're gonna have just naturally, their strategy is not going to be that good that month. They can always adjust a little bit. Tweak, buy dips, pull backs a bit harder instead. But you know it. Just, you know, some months are much hotter than other months, and it's really, really important thing to understand that also, these rough patches thes slumps. They tend to happen earlier on, or when you're overconfident or when you're just really lacking confidence. All those things tend to happen obviously, earlier on Andi. Sometimes that's kind of the same thing in any way. You know, you never want to go all in on something when you're just getting started, you know, kind of test the water a little bit, just like, you know, jumping into a pool or going to a hot, hot bathtub. You're not kind of, you know, just you don't just jump into it and burn yourself. You're gonna, you know, put your toe in first, maybe kind of feel over the water, see how hot it is on. And that's really what it's all about. That way, You know, worst case scenario you might like burn a finger is something like that. You're not gonna burn your whole body. So yeah, just, you know, allocation is just super, super, super important. And even if you're on like a 20% allocation per trade, which is pretty high, that's still much, much better. Because let's say the worst thing happens and that stock literally comes out news. It gets delisted, halted blah, blah, and just use all that money, which is pretty rare. I don't know if it will ever happen, because usually even if that does happen, you'll have weeks, days, weeks, months where you can still sell for, you know, salvage some of the position. But at least you only lose 20% of your position size, and that's kind of the thing. I want you guys to really, really owned out. I have two videos on YouTube that I've gotten good feedback on. One is a position size kind of calculator. What kind of position size should I use to kind of maximize my growth? And actually, there's another one reduced risk and grow faster, kind, using the same cow calculator but talking about it a little bit differently. I think in the second video, I kind of talked about how I have actually reduced my position size to make more money during the $25,000 challenge. It's a little bit backwards, but basically, instead of being able to trade once or twice a day, I was able to trade three times a day in That actually increased my potential profits based on my current women loss ratio and my average winds and my average losses. So, um, boom. By reducing my allocation, I was actually able to make more money and reduce the stress on trade. So it's actually kind of mind blowing how positive, proper position size allocation really, really is. And there's actually a one more slide that I want to quickly bring up here. So I was, you know, I'm learning this new strategy right now, and that's a big part of this course is the kind of gap and go momentum trading strategy. That's where we're gonna be talking here on small caps. It was not really my primary trading way, like my primary trading way over the last few years was buying support lines by reversals. Buying bigger dips on that has tend to do really, really well. The problem is, it's a very kind of longer term strategy. Sometimes I'll go a week without getting a proper trade. So it's something I always do in the back end, and it works really nice. But now I like to kind of, you know, be able to spend our to trading a day, and that is when I started implementing this new strategy. So I decided to use um, basically half position sizes on trades. I don't really pretty market or if a trade I don't really feel comfortable at at all. I'll use hat like a 25% of my ideal position size and my ideal position sizes. Let's say I think in this time period about $2000 eso here you could see I would really like the Pullbacks. I tend to do a bit better on, um, so I'll use bigger position size on them, and then we'll have something like Breakout, which I'm not a big fan of trading breakouts. You'll see. I usually don't go full position size on a breakout. Here's a 1100 years 1300. Here's 1/2 even 1/4 position size because I know this is not my best strategy. So I'm gonna risk more money on a strategy I'm not that good at. Um, this is actually strategy I'm quite good on, but I must have been kind of choppy set up, so I didn't use that much position size on this one. So it's kind of a interesting way to kind of understand this is this is trade journal, by the way. And you know, then you could kind of study. You know what I did right? What I did wrong and, you know, start tweeting constantly, constantly, constant constantly between King. So that's a little bit about position sizing. I hope that makes sense. Guys again leave some comments below. If if you do have any questions. Otherwise I will see you guys in the next topic, which I think is about risk and reward. So you guys there 8. Risk Reward Win Loss: eso in this slide, we're gonna be talking about risk award a little bit more. Here's a chart that I find it is kind of helpful to put things in perspective. Let's just start right here at 11 risk ward. That means basically I'm risking $10 to make $10. Not really necessarily. Or let's issues maybe $100. It's a bit more percentage based, so $100 to make $100 doesn't really, you know, make you profitable unless you're win win ratio is over 50%. Then if you have, yeah. So that is not really the best thing to strive for a lot of day traders. A lot of scalpers. They strive for a 1 to 1.5 win loss ratio, and at first I didn't really get that. I was like, Why don't you just want, like, a wonder? Three? Well, risk or ratio? I'm sure you guys are probably thinking that as well. But a big reason behind that is the simple fact that sometimes a stock shoots up, you have that opportunity to take profits on. Before you know it, you're at a loss, especially on the back side of a big move to the upside, and then it's pulling back, selling off. Sometimes you have these nice did trades, but they don't really go up more than 34% or something like that. So if you're risking, let's say 2% you know 1 to 2 ratio is already making profits up 4% and sometimes that doesn't even hit 4%. That's why a 1 to 1.5 sometimes is really, really popular for day traders and scalpers. But overall, if you are kind of, you know, especially as a new trader and being limited on trades, if you're constantly looking for those traits where you can at least have a 1 to 2 and one of three risk reward ratio, that means you only have to be right 33 to 25% of the time. That's pretty amazing. I I'm actually pretty pretty big with looking for these kind of bigger setups I have. I think last month I had the worst worst P N l ever or the win loss ratio I was at, like 46% winds. But like I said before I was still profitable, I was still green that month because my risk reward was on point and eso Sometimes my win loss ratio goes up to like 64% for the month. And that is when I have a really, really nice nice month s Overall, this is really, really something you want to be considering and thinking about quite often, you know, where is my risk reward? Where's my profit and loss? And this is also something you don't really want to be overthinking in a way you don't want to, like, start trading and cutting losses. And just because you're like, let me improve my my ratios. This is something This is just a byproduct off your trading and then at times you can go back and kind of maybe see if understanding your risk ward, maybe you can get rid of things, improve on things, and this is this is what I This is next slide, I think, is where I kind of talked about this a little bit more. So it's really easy to kind of be in the trade and be like, OK, well, if I close this for a 1% or like 10.1% loss, it's going Teoh hurt my my total winners on my total winners is gonna go down So let me try to get a one point like a little bit higher on it. But just trying to think like that because it will really start messing their mind. Always just trade the strategy in front of you and then use your statistics to see if you can either erase things that aren't working or improve. Things that are working or focus on things that are working here is for example, um, my support line bounces, and I think this is all this is for all my portfolios. This is only documented for, like, the last three months or so. So this this date range range is only like about three months or four months or so. Basically, you can see here that this is one of my better patterns. I have a 64% win loss ratio. So I have 64 winners on average, 34% losers and scratches is at 1.2%. So scratches is basically any trade. I get in and out of zero a totally break, even with fees included. You can see this is actually also a pattern with one of my biggest winning traits. This was actually a swing trade, so I'm not filtering for only day Trades year, but I should probably have filtered for only day trades. Largest losing trade. This is also a swing trade. I believe I would have to double check that, but you can see Max consecutive 14 trades in the world. Our winners Maxim Sector of losing trades three in a row is the overall. This is a pattern where it looks like I feel fairly confident in. Sometimes I know that this is a pattern that doesn't always happen because I'm looking for longer term support resistance. I often times have limit orders in these areas, but then they never get executed because it never actually reaches those areas. Um, and you can also see here that looks like I have a 1 to 2 risk reward on this one because you could see that my average losers are, let's say, are 5% average winners, or about 9%. So it's a little bit lower than a want to risk reward ratio and understanding that this strategy, these pattern, this pattern right here is doing really, really well compared to let's say, my breakouts strategy or something like that, then maybe I should be focusing on this one instead and then being like Okay, well, breakouts. I want to continue improving that. I want to get better at them. But let me at least just reduce my position size so it doesn't affect my account to the downside. And as I get better at breakouts than I could increase my position size. So it's not really trading to make stats, but it's it's It's having your stats improve your trading. I hope that makes sense. If it doesn't, it's probably because you haven't necessarily gone back and forth long enough between the two. But I remember when I was first documenting my trades in my mind, I was like, Well, I don't really want to close out for this small profit because that's gonna bring down my average wind ratio and I was like, That's horrible. I don't want that. But then it was like Wait, like that's a horrible thing to be in thinking about right now, because I'm not trading what's in front of me. So don't don't just be careful, be conscious. When you're making that when you're having those thoughts, it's not like the worst thoughts in the world. They will happen. They come, just acknowledge them and then kind of like, understand that that's not really what you want working on here. It's kind of going back, understanding what the big winner patterns are. And then, you know, adjusting your trading based on that and then seeing over the long term how you're kind of stats a just a little bit from there. So that is risk reward. Very, very important. There's a big debate actually on. What's more important, your risk reward ratio. Your you know, how much are you willing to risk for reward? Or is your P and L um profit loss? More important, So what are your average winners? How how much is your average winners compared to your average losers? I think it's definitely somewhere in the middle. We could have a whole debate on this, and I will probably come out with a video on this as well. If you guys are interested in that topic, leave a comment below and I will definitely come out with a video on it. So I'll see you guys in the next life for now. You see, there 9. Time of Day: so another risk factor that we should definitely talking about is time of day. When are you actually making trades? And if you're totally new trading And if you're not new trading, I sometimes like to remind myself on this as well. Actually, when I looked it up, I was kind of surprised. So trading the U. S markets is typically what we're going to be doing in the community. NASDAQ and New York Stock Exchange. Um, the So there's basically because he gets almost a four times the trade you have, or maybe five times the trade you have premarket, right. That is from 4 15 to 9:30 a.m. Most of the trading doesn't really happen on 4 15 It kind of starts around eight o'clock, sometimes like six, but usually closer to 88 15. It starts getting a little bit hotter, and then so that's kind of your premarket oftentimes referred to his extended hours. So if we have after hours and we have premarket those air both extended hours, then we have morning kind of the market open. I kind of break this into the early morning in the late morning. To me, they're a little bit different. So early morning is like from 9 30 to 10 30 on an even like 9 32 like 9 45 even is its own little hot, super hot gap and go kind of section. And then we have new. That's usually when things die off a little bit. People are at lunch, less activity, breakouts or a little bit weaker. And then we have the afternoon trading, which is probably from like 2 to 4 when things get really, really hot again sometimes sometimes not. I'm usually not trading noon. I'm not trading afternoon because I'll tell you why in a second and then I don't really trade after hours as well. So I'm usually only trading premarket sometimes on and then I'm only. And then sometimes I'm trading or I'm almost like 90% of the time. I'm trading that morning and mostly just the morning open and a big reason that I like Teoh , actually. Well, let's go to the next slide and kind of talk about this. Where is it? Here we go. So when I like to trade, like I said before, is, you know that one main, our from 9 30 to 10 30. I do usually end up treating for like 2.5 hours, especially because of the live streams. And I like Teoh be looking at the market premarket before the 9 30 bell on Do you know well , oftentimes run the stream toe like 11 30. But, you know, sometimes I'm done trading at, like 10 or 11. But I'll just be stating on the stream a little bit longer, and the reason I like to trade the market open is because that is when there's oftentimes the most volume and the most liquidity on. But we're talking about this before you want to be able to enter and exit trade very, very easily. So that is the power off liquidity. And it's it's a common kind of phrase. In the trading world, volatility equals opportunity, and there was 1st 15 markets 15 minutes when the market opens there. The market is just going crazy on these small capture. Going crazy. Sometimes you see moves that are 60 102 100% in just 15 minutes, so that is huge opportunity. Once you understand how to trade it, there's also the least amount of news releases from 9 30 to 10 30 which means you can avoid unexpected events. Almost every hole, actually, every hole that I've been into happened premarket or after 10. 30. So, you know, you know, food for thought right there. This is a really kind of safe trading time. You have that big volatility you have. Break outs are a little bit more consistent. You have more follow through on moves. You have dips that are actually being bought into just really, really kind of nice stuff. You don't have those news articles that just come out in the middle middle of the day. So I really, really like this train time. And your mental fatigue is not really at a low yet. You're not really trading emotional yet. Your you know, your you the markets just open. You have your watch list. You maybe haven't done any trades that you're very, very focused on the day. It's a new day. You're ready to go. You know, by trading afternoon, a lot of suffered He happened throughout the day. You're gonna be a little tired. Maybe you're to have some foam. Oh, or some revenge trading kind of emotions going on because of the morning. So I like to just rule out the trading altogether. And another big benefit of that and the reason I love day trading so much is the fact that if done right, it gives you a lot of freedom to do whatever you want in your life. You have all day to do whatever else you want. It's actually great, probably living in California, for example. You're three hours before the market opens, so you're in at 7 30 of the market opens. That's gonna be pretty nice. You know, if you trade two hours, you're done trading at like you're done with work at 9:30 a.m. Eastern standard time, and you have all the rest of day to do whatever you want. There's There's some really interesting statistics on some traders that after like five years of trading, they have all these statistics, and most of their profits will be made in those first, like 15 minutes of the market open. And then everything they do the rest of the day is just, you know, sometimes they lose. Sometimes they win in over five years. It's like basically break. Even so they could have just saved all that time not traded on and then just focus on the morning. Now you might realize that as your personality is more geared towards the afternoon or maybe because your work you can trade the afternoons better. Everyone's gonna be different for me, with my traveling and sometimes being, you know, in Europe and sometimes being in the States, I like to just penetrate the market open and then just, you know, do that as it like just let it be as it is. If I'm online and I have time that day, sometimes I'll dabble with afternoon trading. But overall, I really like to, you know, kind of mastered at one specific time period. Yeah, So what am I interested when I'm not interested in trading? Like I said premarket. And then after 11 AM Eastern Standard time, I do both. I Sometimes I'll do like one or two premarket traits and then all, oftentimes trade after 11 AM, especially because of the streams. But what I do dio is I reduced position size. I know this is not my time on most successful, so I'm always gonna be trading with half position size, usually at most. And that really, really helps me, you know, Not not. Be like, you know, be too bummed out before or after the actual trading day. Because if you have big losers, premarket, you're gonna be so bummed out before the market even open. So I don't want I don't want to be in that position. So I take small position size, and then, obviously, you know, if you have a great you know, day of trading from 9 30 to 10. 30 and then after 11 you have some big losses. That's just gonna be this gonna bum you out. So, so, so much. So, you know, if you want to trade, I'd like to just trade with less volume or less Position size. After these hours are in these hours that aren't my ideal training time. And everyone's gonna be different here. I'm not saying that this is the best time. I'm just saying for me, this is what works. Yeah. Both times generally have less liquidity, gets stuck in a bad trade. You could reduce position, size it, and start wrapping up trading in these kind of areas. And yeah, that's pretty much it There's actually a video here, guys, if you want to check it out. This'd me live getting stuck in a direct public offering a GPO on our X. Basically, they come out with news and then I'm in the trade and it just falls off a cliff. So this is what you want to avoid and, yeah, I really can't emphasize it enough. Our guys, Let's go to one of the next points and I will see you guys in that video, Joe. 10. Checklist Overview: All right, guys, welcome back. So in this section, we're gonna be talking about the checklist. Now, these are four checklist like this. You can say we're gonna talk about tradable stocks. What are we looking for? What makes a tradable stock? We're gonna be looking for premarket. What are some of the indicators were looking for a free market and then just some very, very simple entry and exit things. Now, these are going to be checklist that you can always go back to. You can maybe print out. I actually have the treatable stock one ready to go on the bottom, my screen. So I can always look at that as a little bit of a reminder, mainly because I like to say in the beginning of my life streams for everyone else. But it's also good as a reminder for me, but in the back, my head, I think this is pretty much ingrained for me already. So let's let's let's go ahead and move on. 11. Tradable Stock Checklist: boom. Okay, so first checklist. And after we review these two checklist, I'm gonna go through three different charts with you guys just to kind of make it all, hopefully making a little bit more sense. But really, really, I recommend you guys take maybe print this out, put it on your screen, put it somewhere. I actually have tradable stock, the checklist right here on the lower part of my screen, mainly because I kind of say it in the beginning of all my live streams. But this is good for you guys to have on standby as well. Honestly, this is, like, ingrained into my head, but I don't ever want to forget one of the points. So first we've run the scanners. Then sometimes the scanners pop up. Five, 10 2030 different stocks. How do we know it's one we want to trade and we don't worry, guys, there's a whole video on the whole scanners and everything like that. So if you haven't got there yet, or if it's not here yet, don't worry. It's gonna be there. So tradable stocks were looking for stocks with a float of under 50 million and ideally less than 10 million. What is afloat. It's similar to shares outstanding. How many shares are available to trade, but flown is more like shares that are actually available. So let's say an institutional large fund comes and grabs. I don't know a 1,000,000 shares that float. Let's say it's 10 million shares outstanding. That float will now be nine million. Because that institution month might say, OK, we're gonna hold these thoughts for X amount of years or something like that. They aren't going to be day traded. They're not gonna be available for other people. So now the actual amount of stocks available are less. Why is this important? This is important because when the float, the amount of actual shares, I could go back and forth, gets less and less, and then you have you need to have more turn turn over to move the or actually you need to have less turnover to move the stock price are about that. Who? So basically, when a stock has a float of let's say, south of $10 billion this thing is gonna be much, much more spike umbilicus. There's not as many shares flying around. There's a less number of shares. When there's a less number of shares, thes the price, adjust much quicker. That's why we look for these spikes with low floats because they are extremely, extremely spy Kable. Sometimes you'll have these stocks go up 1234 500% on. Do you know there's only $500 million being traded on the stock a day, so it's a really, really big opportunity. We want to see these small floats now. It's not a guarantee thing on do. Sometimes, honestly, we traded stock over 100 million, and this thing's ripping harder than all the low floats. So it's not an exact science of, but it is a really, really good start on its stock that we find under scanner that we want to be traded. It has a news catalyst. I wouldn't want to be looking for a stock with Micro knew something specific to the company and a Dele. Something even better would be like macro news as well. So like we used e g l y with the with the body cams and the protest that I was like two things coming together is once or a biotech comes out with the Corona virus, some sort of vaccine, some sort of news. So now we have a biotech coming out with news, some sort of drop or whatever, some sort of here that is micro news. And there's macro news behind it because Corona viruses, you know, is a huge thing at least of the time of this filming. So now you have kind of these two things. So news, Catalyst, Micro and Macro is pretty nice. Strong spike history. We're gonna look at that just a little bit here, but you guys are going to see them. The streams head often. Basically, we're looking for stocks that in the past has been able to spike up and, ideally, holder highs. But we're look for stocks, obviously, or that are often times called former runner stocks that are known to run higher. And sometimes you hold the highs and they have these multi day runs, you know, is it a stock that has is gaps up and then pulls back? The rest of A has the last five times that had a gap up has done the same thing, or is it a stock that you know, sometimes breaks the upside and kind of holds that high and maybe has 2345 days of running . That's it's always good to go back, check the charts and see you know how this stock has trade in the past because stocks have this thing called muscle memory, where a lot of traders will look back in the past, see how it traded and then traded based off of that. So this stock tends to repeat itself. It's always really good to keep this mind doesn't have daily, is it? A good daily chart doesn't have room to run. So, let's say the 180 day moving averages coming here. Let's say it's at $2 and there's a big resistance zone. Add, let's say, $5 Now This stock, I would say, has from Deron that $2 you know it has Polly rooms or until five before major multi month sporting resistance. Maybe there's some talking bottoms in these areas as well. We'll go to the charts is will make more sense were just kind of reviewing the things a little bit more here. Fast rate of change. I was look for stocks that you know in three candles could be up 2030 40%. I don't want to be trading a stock on one minute candles. I don't wanna be trading a stock. That's just extremely slow up where the perfect, You know, entry perfect exit on 30 30 minute move is only 7%. Then you might as well be trading a large caps we're looking for. That was fast, fast movers, something that in one minute you could be up 20%. So that's very important. And then, ideally, between two and $7. Now, this is very this is gonna be different for everyone. But for me, I really, really like the two and $7 part. Now, always ask yourself, and this is really, really important here. You know, you're gonna be sometimes overwhelm. There's gonna be 5 10 15 different tickers on the scanner. You're gonna be like, I don't know what the trade or you're gonna think. OK, well, I you know, several stocks that meet these criteria is which one do I look at? Which one do I want to trade? Ask yourself what is the most obvious self? Usually there's one or two that are the most obvious and we always pick those two out every day, and then we put it in the live stream. So definitely check those out or check out the live stream. So basically and then, you know, start trying to pick your two top two or top three and then see how they look compared to my top two and three. That's a really good way to become self sufficient, get practicing and go from there in the next video. Let's talk about the premarket and then from there, let's do the three examples. 12. Pre-Market Checklist: already already. So Premarket. What? We look for a pre market on a stock that basically fits are tradable stock criterium. So step one, the scanner picks it up. Step two, we kind of make this filter here. Step three. So Step two, we checked the float. We check the catalyst, we check the long term chart. We check, you know? Is it moving quickly? We check if it's between two and $7. Right? So we have the scanner. Now we have the tradable stock, and now we're thinking, Okay, Premarket. What makes this 1 may be the most obviously gap Or what makes this one the best? Well, we're looking for something that's holding its highs. So we used an indicator called the wop. A lot of times it's a volume weighted average price on basically it adjust three the moving average based on more volume. So it kind of there's a nice purple line of my charge, guys, we'll see it a little bit. It's so much easier to explain with the chart in front, we'll move there in a second. Basically, you could be on the top half of half of this view wop, and that's identified as trending up training, higher holding its highs. And if you're blow V walk, that's usually a sign that this stock is selling off. So we want to be trending above the water. Third, the second thing, You don't want to really have a stock pulling below 30% from the premarket high. So let's say we have a high of 3 50 then we go all the way down to 2 50 That's gonna be the kind of like Max Range, where at one point I'm gonna be like this thing's selling off kind of a lot. Maybe I'm not gonna be wanting to trade it, so that's something really important to consider. I like to look for stocks that are up over 40% premarket. I don't really want to be trading something that's that's much under that. To me, it's It's not enough. There's a lot of hot stocks, and most of them are wrapping up over 50% so 40% to me is kind of the minimum. I think a lot of people also use 20%. I think my scanner I scan for 20% so if it goes from like 25 goes to 15. It doesn't disappear off my scanners, but I like to see something gapping up premarket over 40% from yesterday's clothes, ready for second or third leg up. This is might be a little confusing to explain, but in the charts it's gonna make more, more sense and a little bit. But basically, here's my Here's my arm, Lindsay. Okay, so we have a first run. Let's say news comes out after the market closes yesterday. Right? So start kind of doesn't do anything all day. Stock market closes. Good news comes out. Let's say at 6 p.m. This thing shoots up. Extended hours has one big leg up, and now it consolidates and then boom consolidates. Then around 78 or nine premarket, it does another gap up. So we're looking for a stock to trade into that second or third leg up. We typically missed the first leg because the first leg is what puts it on our Scanpix. It's what puts the stock up over 40%. That's why we typically miss that first run. Sometimes we don't. Sometimes we pick it up right away. We jump on it right away. But I am not a big fan of that Because I like to actually look and, you know, wise his stock up. You know, what's the float? And sometimes that takes me a little bit too long. And then before you know it, boom the socks, You know, up already. So I like to treat that second or third leg. Um, what's the next thing not over Traded premarket. 50 million volume? Yes. Okay. So if its stock is traded very aggressively premarket and it is just running, running, running up and it's already on its third leg or a second leg or third leg, Usually the second leg is the one we're gonna be looking for when the market opens. Gonna make so much more sense when you see this stocks. So if something super over over traded and it's already on its second leg premarket, I will probably look not to trade it out of the gates. I'll probably looked for a bigger dip. Maybe you read, degree, move something like that. We're gonna be talking about more patterns later on. All right, let's take a quick boss and then we'll see you guys for the three examples and then we'll talk about this thing. Exact thing right here. The tradable socks, premarket checklist and then compare it to the charts. Alright, guys, see that? 13. 3 Example Stocks: All right. So the first ticker we're gonna talk about in this example is L M f a now really quickly here. There's gonna be a lot of information we can't really tell in these charts. And this is stuff we usually talk about on the live stream. So that is really the best place guys for you to learn in real time. So this is gonna be just a very, very simplified overview. What I do want to talk about if you guys are totally new here is let's just review what we're looking at. So this is a one minute chart off the actual ticker that worth stock were trading. The gray area here is premarket. So premarket, like we talked about was like, what? From For something till 9 30 on then this is market open five minute chart here and then one day chart here. Now I like to use different time frames because different time frames give you indicators off bigger setups. So on the daily. I like to start with that. That's where I confined multi day support and resistance. Multi month. Stay supporting resistance. This is a little bit too zoomed in, but When I go to a different chart, you would see that maybe there is key price action that we had several retests here at 3 50 year right over this wise Or maybe we broke out of this area, had several retests eso this 3 50 zone must be important and interesting enough. Premarket. We've run up to re test that zone, and we kind of go here. Now this is V. Watch this purple line. This is what we're talking about. If you trend, if you're trading above you up, that's very, very bullish. It's typically a good sign. So let's see here if we can, um Oh, yeah. Order book right here and then new. So let's see. Let's go back 12 and see if we can figure some of this stuff out. So float all this stuff, we won't really be able to see strong spike history again. We can't really see that good daily room to run. Yes, If we break that $3 Own fast rate of change for sure between two and $7. Exactly. Holding its highs. This is what we talked about. So this is the premarket checklist. Um, 30% so yes, on the 1st 1 Check. 30% Max Pullback from premarket high. Let's quickly check that again. Let's see, we pulled back from 3.5 to 2.5 roughly. If you guys could do the math, I think that's like just about 30% actually, about a dollar a share on $3 stock. Yeah, that's about that's about 30% whole. That's huge. OK, so this one kind of is pulling back the max own. So when I see something pulling back that far, I'm a little bit iffy about that. And you know what? Looking here, I have to look over his computer in front of me. I noticed that this is the 18th right? There is actually no news here on the 18th. So, you know, I'm thinking about it. I didn't trade this one into the market open or I didn't trade any of this year. I'm actually traded the backside of the move. This is the back side. This is the way up. This is the way down. Like all the way down the back side. I traded the backside. I think this was even a loss yet 38 36 this was a loss. But I missed this whole move. This wasn't really, really nice move because it didn't fit my criteria. So let's go back again here. It didn't have a catalyst. Probably had a good float, but there's probably a few other things here didn't like. So the fact that a patent pulled back more than 30% or so probably made it a red flag for me. I wasn't really I was like, This thing is looking a little bit we hear ideally up 40% premarket. I think it does have that check already for the second or third like up. Now, this is where the leg up part comes in again. You can see here boom, huge like here consolidates and then boom in the second leg. Now that, like I said or did I say this? I don't remember. We had a bit of a pullback here. You know, this is this is a little bit choppy. This is harder trade, but eventually here's one of my favorite setups. Actually, we have a five minute break out. You can see this on the five minute chart and then we have a one minute. Pull back on the one minute chart. So here's the break out. You can identify the break out here very, very clearly on this big candle and in the here, internally, you can see that one minute pull back. So very, very nice. And on this big, let's see, we have some pretty big volume here is Well, it's a very nice move. I didn't trade any of this, but so I was talking about the second or third leg. So we have that first. Like we have the consolidation. The first leg is what puts it on our scanners. This is how we found the stock to begin with. Then it consolidates. And then here you're typically waiting for movements of the upside. Usually this will happen sometimes premarket. And then, you know, premarket will be like a 3.5 quick pullback. Maybe, and then we rip on out past 3.5. That's typically how like textbook classic over traded premarket. I wouldn't really say this one was over trying to remark. We have some spikes in volume, but yet so pretty good. I probably this one all mostly checks here. I guess the tradable stock you might have been not too hot. Who knows? There could have been another league apparatus spokes on. I was not focused on L M f A. I remember that this was actually only a few weeks back, so yeah, I mean, that's that's basically how ghosts so premarket we're always gonna be reviewing the watch list on then. You know, we're trying to figure out what the most obviously gap er's based on. Basically, which stock gets the most checks out of all this stuff here this week has been very tough because we've been having a lot of stocks running on no cattles. It's the weirdest thing, like, two weeks ago or wasn't two weeks. Two weeks ago, we had Chinese companies exploding all in the online educational space. None of them had any news. There must have been some macro news propelling these stocks up actually have yet to figure out why it's up. I think there's some deal between Australia and China. I'm still not totally shirt. So sometimes I don't really like trading the macro news because it's a little bit harder to understand how significant it is one, but then how much it actually affects your individual stop. That's another big kind of part of the equation. Because oftentimes if you have, let's say its stock that is absolutely ripping up because of yeah, just used e g l y again with the with the body cams. Right? This one, um, had news. Had camera stuff coming out, new equipment, Diatta big deals. This one was running up, but then because this one was running up, we had tons of other companies that were kind of in the similar space that started moving even though they weren't doing anything. And that's called a sympathy play. These stocks will just move up because other stocks in their stack sector are moving up. So, you know, is the macro news really important to this company or this company or this company, or not so important? It's harder to read. And that's why I really like when the news is a little bit more focused on that one stock. Let's go here to the next ticker who got take a quick breather. So this one, um, boom again way have the five minute chart here. Oh, yeah. By the way, guys, uh, love the law. Let me get the pointer out. You can see here. Oops. This things a little bit annoying. You can see here at the bottom left. You guys will have this on your pdf. Basically, you could type in this ticker, whatever you, or that you are on the bottom left. You could see trade journal Darko for trade for its last 661 You'll get the full review of this trade and you'll get the video actually on YouTube that talks about this trade. Recaps it. If you guys are interested in more content, that's the place to look. So, BB I This one is, you know, having a nice little move here. Premarket. It looks like I only traded this premarket and I kind of want you guys to get Can you guess why I only trade this one free market. It's actually kind of obvious once, you know, But basically this and gaps up really, really nicely here 3.6 and pulls back to 3.5. So this one, having that aggressive selloff that I was worn about, tries to try to trade this on a further break here. This was actually a pretty decent trade. I think this was a break. Even trade. Yeah, this was like a 20 cents a share trade. Not too bad at all. Actually. That's like, No, it's on 20 cents for 16 cents a share. Not it's OK, so this one breaks up higher here on wait for this to break out kind of week. Not a lot of volume on the break out and close this one again. You know, big cell volume here, trying to buy the pullback, get the pullback. But, you know, never really amounts to much on the daily chart. I would say it has room to run because, you know, we have this kind of 3.75 area $4 area. I'm looking for a least a retest into this area, but here you can see on the five minute chart we have that first leg up. We have the consolidation here, and then we're just starting to sell off. This is why it's a big red flag. If you're trending below V walk again if you walk. Is that purple line here? And we're just selling off below it. Yucks eso this one BB I the rest of the day totally sold off big support resistance here on the daily chart between these two zones and look stock perfectly kind of trended in this area. So again, this is what we always talk about. Start with the daily drawl. Big support resistance owns here. Here, wherever there is kind of major kind of pivot zones, we do it all the time with you guys on the stream. So check out the streams if you want, you know, real time. Learn it. Yeah, And then here's the 180 day moving average. You can see big resistance. Eso It's tough because you know this one, I would say, has room to run right if we break the four zone huge, huge room to run. So that's the question. But it doesn't do that on then. You know, it starts pulling off so over. Traded second, yet ready for second or third like up? No, At the market open, it sort of been pulling back over 30%. It's not really that interesting. It's not holding the highs a big red flag here. And that's exactly why I kind of let you know. BB. I go so interesting, I hope. I hope that makes sense to you guys on. And I hope the next one has a better, better daily chart. But now, Okay, daily. Okay. Daily chart. You can see bigger resistance here. This is DPW. This is actually kind of cool. And you can see here because you know, this thing pops up big leg up here consolidates second lake. So this one already has two leg ups. That's kind of very aggressive. That's like, you know, getting into that over traded territory, remember on this checklist. Is it over traded? Premarket. This one, I would say yes. This is definitely traded over traded premarket. And that's why I guess it started selling off here a little bit on. And this was a kind of attributed place to trade. You know, it comes back to support quick bounces here. These you're all really intense moves, but then all of a sudden shoots from 4.5 right around 9 45 to $6 roughly what a huge move. 6 50 Yeah. $2 a share. I mean, $2 a share in 123456 minutes. Crazy. So that is Let's go back here a little bit. that is fast rate of change. Bull. That's what we're looking for. Between two and $7. Probably has a news catalyst. Let's go to this one again. DPW day on the 11th. Uh, looks like some news came out on the 10th in the evening. So yes. Does have some catalyst news. Strong spike history. Former runner. Yeah, Boo all Good stuff there. Room to run. Very nice up. Premarket. Holding its size. Good. Good stuff here. So, um, the only thing about this one I mean, it's never gonna be perfect. There's always gonna be something wrong with this stock. There's always gonna be something that, you know, in theory, you could be like, Now I don't want to trade it. But you have to, like, look for kind of the good in the sock a little bit. I've noticed with the breakout trading, you can't be overly pessimistic. You got to get this. Give the stocks a chance. Yeah. So this was actually a nice trade here. This was a 40 cents a share trade. Very, very good. Actually, in a second here, we're gonna talk about what I'm looking for for my trades, my entries and exits, not talking about pattern and so much, but just like an overall risk reward kind of perspective. So, yeah, this one pretty nice feed the big red flag here and you guys could probably call it out is the fact that it's on its 12 and kind of three big leg to the upside, and not a lot of consolidation here. This makes DPW a little bit more tricky to trade. Honestly, I feel like the best time to try DPW would have been pre market on the second big leg to the upside, because when we were kind of over extended here, it was kind of like, Do I really want to be trading this anymore? It's, you know, huge. It's up so, so much. This thing, I don't it's hard to say, but it was probably started like a dollar or something like that. So this things up, you know, 34 500% just a little bit sketchy. You know how, How aggressive. So I want to get at the market open. You could see not really good. To get super aggressive, you would have to cut your losses here 10 15 percent cutting losses. That would have been very, very not fun. Okay, so that's everything for this. Quick examples. Lead questions, comments blow and let's move on to the next check lists. 14. Checklist entry exit: boom. Welcome back, guys. All right, so let's talk about entries and exits. Very, very kind of simple concepts here. You want to keep it simple as simple as possible. The simpler your trading is, the more money you will make guaranteed. Okay, So entry, First things first. We're looking for stuff with, ideally, want to risk award. Like I say, I'll typically take profits like closer to 1.5 just because I hate being up 5% 67% and all , Sudden closing for law. So I've noticed that I take profits a little bit quicker, but I'm looking for, at least in theory, wanted to 123 risk reward. I'm looking for those five minutes set ups like we talked about before. Ideally, I like those five minute break outs in one minute Pullbacks. Those are very, very nice. I like those a lot. Something really important here that we've talked about before. I adjust position size of based on quality of the move. So if this is like a break out and I'm not gonna train breakouts, I'll take half position size if it's maybe a really nice set up, but it's pre market and I don't like train premarket because there's not enough volume. I'll take half position size. So is this. You know how good of a set up is this? If it's not great, have position size. That's just like my default mode. More obvious, obviously more oppressive. If this stop. If this is a very obvious move in terms off, you know, quick dip to whole numbers support and the volumes is selling off. Yes. Then you know that's gonna be nice. Dip by the more obvious, a more aggressive. I mean, sometimes you gotta be careful, you know, cut your losses if it doesn't work out. But, you know, sometimes with a trading, it's a lot of people looking at the similar set up. So if it's obvious, means everyone's noticing, it means that, you know, maybe you wanna want to front run that entry a little bit. Maybe you're gonna want to hop on this from a little quicker. That's something to consider. You know, this one just spiked up with big volume. That breakout might not pull back. That's what I mean. More obvious, more aggressive, um, exits are, you know, pretty straightforward. I just kind of want to review these trackless with you guys. Get my straight up perspective on these half profit, so stop at half profit. Wait, Why? Don't say. Here, let me think about this first half profit. Okay? So what? I mean by half profit? I believe what I meant when I wrote this is I take half profit oftentimes between 2 20 cents and 40 cents. And then, ideally, I would like to see a bigger break out move past 8% which sometimes I do, sometimes I don't. So if it's already in between 20 and 40 zone, I will 100% take profit. And I try to take half profit on Lee sometimes. Just because, you know, maybe I can let it run a little bit for me. I like to think everything in my $5 stock range. So I'm always looking at those stocks between two and $7 half profit is like or not have profit. So who just lost my transfer? So if we are talking about $5 stock, I'm looking for a 20% move. So this is a five by $5 goes to 5 20 Cool. Taking half profit if it goes include very quickly. 5 40 You better believe it. I probably sold it already. That's a 4 to 8% move on here. That are my Max stops. If I bought a five and goes to 4 80 you could you better believe I'm probably fully out of this one if it goes toe. You know, down here, 40 cents. You better believe that I am running for the gates. So you could see here. This is actually the 1 to 1 profit loss ratio. My stops, these air really like my Max stops, I would say Usually I'll get out of the trade earlier. So let's say I'm only down five cents. Or maybe I'm actually even up like a set. But my original thesis, let's say I'm trying to buy Breakout. Pull back. It's not. It's going slower. It had multiple attempts to break higher. I will just be like, You know what? I'm out of here. Boom. I'm gone and I'll take, you know, a small 1% profit. I'll take it, you know, 1% loss. It doesn't really matter. And that's actually why my my risk award is actually pretty pretty good when you look at my trade journals, because if its stock does not break out quickly enough, I get out. Sometimes I get out too early. I call it getting shaken out of a play on. Then I missed a nice removed to the upside, which I got to say is a little depressing. So I gotta work on sometimes getting out of a stock too soon. But it works for me. So whatever, Max, stop a 10% sometimes a whole past 8%. Because I'm like, you know what? Maybe maybe it's gonna turn around. Or maybe there was a flash crash or something like that. If I'm down bloat 10% that's a huge low. I'm gonna get out no matter what. At that 100.3 failed attempts to break out. This is kind of what I was talking about here. You know, if we're trying to break out and it's like failed, failed failed. I'll just go ahead and close that one out because it's like I don't I don't break out or bailout right. You shouldn't make sure called breakout or bailout, but basically, if it you know, if it breaks out, great If it doesn't. Why not? Something's wrong. Get out of there and a good place to identify. That is, oftentimes there's large sell order. Somewhere there's you can see on the time and sales. Oops, I was wrong. Button. See here you can see here. This is the time and sales and sometimes you can see big orders coming through here. This is obviously premarket, so there's a lot of activity, but sometimes you'll see, you know, $10,000 order or 10,000 shares, 100,000 shares, something some big numbers going through. So if there's a lot of sell orders on and I'm still in the trade, maybe I don't wanna be there. There's a big seller. They're trying to get chipped away. Maybe just not going. So just, you know, large sell orders anywhere are always good to look at. You can see him here. You can see him here. You know, just kind of sitting on the order book. You gotta be careful now. Oftentimes there is spoofing, and that's why I like to see here a little bit more. Actually, what's going through a spoofing is basically where people will show big orders, because maybe there's somebody that has a short position. All they're doing is, you know, showing bigger short positions here because they want the stock to go down and that's just moving. It's actually legal, but people do it anyway. Probably very hard proof. Let's see here. Yeah, so that's basically it. I mean, that's very not Shelley. It's gonna make a lot more sense than where we talk about chart patterns. The more you join the live streams, all this stuff. But this is kind of like in the back of my head, these entries ideally setups these exits. This 20 and 40 something is just burned into the back of my head. I swear, like if I'm traded a $2 stock right all of a sudden, this goes from 20 cents to 10 cents and 20 cents. Right? So it goes from 2040 to 10 and 20 because we're trading not just $5 talking war between half that, roughly $2. And if we're trading in $10 stock, you know it goes from 40 to 80. But I'm always using these numbers. They're just in great in my head. That is what I have found works very very well for me. Organize. That's everything for entries and exits. Checklist. I think for now, perhaps, of the checklist in general, maybe we'll add some more in the future, but yeah. Congrats to finishing this part. I will see you guys in the next section. 15. Conviction Ranking: Alright. Alright, guys. So this is the last part of the checklist. Well, maybe it is. Maybe it's not. I don't know, maybe we had something in the future, but this is something that puts it all together. So at first, you know your entries, your exit. You know what? You want to look for a pre market? You won't know what you're looking for for tradable stock. But what I noticed what I was first getting started is that I would sometimes lack the overall conviction behind. So my trade. So what I did was put together a checklist from zero or 1 to 10. Ideally, as long as one thing is checked. And basically, if I'm trading a stock and it has over seven checks on it or seven out of 10 I want to get pretty aggressive on it. So let's review what that would be on then. You know, you can think how that applies to the charts above. And if you guys join the live streams, obviously we talk about this on a daily. So this is something. The more you practice, the more you get used to it. Honestly, it's gonna become very intuitive at at one point you're not even gonna really have to make a checklist, But just gonna be something that you're thinking off in the back of your mind all the time . So conviction, Ranking. Let's see here. Let's review it. Doesn't have a float off less than 50 million if he so given one point, doesn't have float of less than 10 million. If so, another point in the reason I say 10 minutes. 10 million Lesson. 10 million. Who started a long day of trading today? Because those you know those stocks with 1.5 million float or four million float those tend to be those tend to have extra spike ability. Those were really the ones that just rips the upside. Doesn't have micro news it. So then, you know, boom. Another check mark. What's a micro news? What's catalyst, I don't know is it doesn't have earnings. Is a biotech with a FDA approval? Is it some company with a partnership, right? Some sort of news on the company Macro trend is a part of a larger macro trend right now. Electric vehicles have been very, very hot. We've been having companies like BL in K s o l s o l O and Scott. I don't know. The list goes on and I don't want I'm just gonna start saying random letters at this point , but you get the point we have. We've been having these multi day, multi week, multi month runners because it's been a hot sector. So is there micro trend? If it is boom, another another check on that one. Strong spike history. Is it a former runner? These things we don't have to really go over. You guys get it? We've already talked about it for on the long term chart. Is it something that you know has thes spikes? Has maybe 1 to 3 days spikes doesn't hold its highs. Well, you know, is it a nice former runner? Good daily chart doesn't have room to run, is there? May be the 180 day resistance right above it. And that's gonna affect his major resistance. Doesn't have some big resistance trend lines or horizontal supporting resistance zones that it has to get through. Or is it maybe like $12345 upside potential, You know, that's good. Daily room to run. So boom, 12 You know those could be individual checks or those are individuals. Checks of strong spike history, The daily chart, Fast rate of change. This one is always kind of like, very subjective, subjective, I feel like. But if you are, you know, if you've been in this ball cracking for a little bit, you know, if this stock has three Crandall's and candles in a row, and that's only 2% on, I'm talking about three bigger green candles in a row, and that's only 2%. I probably won't be touching that stock. It's moving too slow. Three candles should be like 7% to 14 20% on. And that's fast rate of change. So company. So a ticker that is just making big gains. Sometimes you see, you know one candle a 10% so that's that's what we want to be looking for. Those those quick moves stocks that could move quickly. I like to trade stocks between two and $7. We've talked about that before. You know, if it's like a $20 stock, it's not going to get that check mark. If it's a $9 chops stock and might get that check Mark Aziz, Long as you know, it just got to $9 or something like that. Overall, are the markets stable? Nothing out of the ordinary. This is pretty self explanatory. Maybe the markets are down 2.2%. Maybe they're a 0.2%. There's just nothing to different going on, right? That's what I like to see. If the markets are down 5% and there's big, large caps that are moving, the small caps tend to underperform because not as many people are looking at the small caps. Healthy. Premarket action. We talked about this one as well. Basically, I like to look for a stock that is consolidating above. The wop is trending higher. It's holding its highs on all that fun stuff. So basically putting together what we talked about in the past putting it all together to make this list of kind of my 10 conviction rankings. And, you know, if I have a ticker, that's, you know, trading at like 6789 10 Conviction. Although 10 is, like very rare, it never happens. It's more, you know it intends to. There's always like to things that are missing so it like eight is really, really good. Those are the ones I want to get more aggressive on. Those are the ones I wanna hold just a little bit longer. Now you want to keep in mind sometimes, Actually, like today We just didn't get folder. So I was trading D S S and I gave it a nine ranking, and it just did not have the fall through And nothing had the falls through. All the small caps were just not really moving. So sometimes you still have slow days, and you just have to kind of accept it. So you want to always trade the market. You're and you want to be very conscious. What's going on? You know, if everything's pulling back and everything's very slow, don't you know, trade like full size on a break out? Because you're probably gonna get disappointed just, you know, have reasonable expectations, always always understand the kind of environment you're in, because that's very, very important. And that might not always reflect the overall market. It really might be, You know, maybe small caps today aren't flying because large capture flying. So you want to be very conscious, not just of the overall market. But really, what what the tickers that your trading are doing and that's very important are guys that I think that's everything for this checklist against something that I use all the time, and I hope you guys enjoyed as well.