February 11 – Live Trade Recording – Watch Me Catch A +9R Trade

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I want to share a live video from today’s trading session which I think has some great lessons.

Lessons you will get from this video:

  • Momentum precedes price
  • Volume precedes price
  • Always seek trades that can yield asymmetrical risk to reward
  • The importance of using strategic trailing stops to manage the volatility of your PnL

Video summary:

  • Took 3 trades today.
  • 1 small loss on the XIV for -1R
  • 1 small win on the UGLD for +1R
  • and 1 MONSTER win on GDXJ for +9R

Personal comments on the day:

  • Overall I’m pleased with my performance for 2 reasons –

    • It’s easy to let a loss distract you or pollute your trading process, however I used the first loss in XIV to re-evaluate the market and found opportunities in gold stocks
    • Even though I got stopped out on UGLD on a low tick I remained persistent, maintained my focus and found another way to express the gold trade on GDXJ which turned into my best trade year to date.
  • Areas for improvement –

    • Even though I had my best trade of the year there are still areas to improve.
    • The upside volatility in GDXJ caught me a little off guard and I fumbled with my exit
      • There’s an opportunity here to improve my order entry especially under a crunch
    • I had an opportunity to get out of XIV at a better price but instead took the full -1R loss

Apologies for the long video – fast forward to 19:20 if you want to see and hear me lose my cool as the move begins to go parabolic in my favor and I end up fumbling my exit on the GDXJ trade.  🙂

Let me know if you have any questions and feel free to peruse my YouTube Channel where I’ve been posting more live trading and recap videos.


February 11 – Live Trade Recording – Watch Me Catch A +9R Trade

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