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Trade Gone Wrong. Loss Control Mode.

Sometimes trades do not go according to plan and “3rd party events” happen that throw a monkey wrench into the equations. That’s what I had to deal with in this online trade that sent me into loss control mode. $SOLO $ACB $CRON $CGC $VYST $SHMP $AAPL $FB $NFLX

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Transcript:

(logo booming)Good morning, this is Clay at claytrader.com.This will be a live trade video where I tryto capture some of my trades as they unfold live.Market opens up here in less than three minutes,so let's see what happens.I have several orders out here on the openso I'm gonna watch YETI out of the gates,but in the event I may miss one of these other orders.So if something down here in the order box turns to greenthat means I got filled on it.Like I said, gonna put several bobbers in the waterfor the opening, which is in about 30 seconds.All right, I have an order at 53.25 here on GOOSfor my first 500 shares, this one's a very quick mover.And that fast right back above 54.So I will do my best to capture it on video,but like I said, very, very jumpy one.All right, have an order at 5.85 here on SOLO.How low did it go there?5.88, all right I'm gonna stay there at 5.85 though.Okay, I got those for my initial entry point.We'll look to pick up some more at 5.55 and 5.30.Oh, this things gonna get halted.Oh great.Here comes the halt.And halted.Great, I love getting stuck in halts.All right, well we'll see what happens.Tricky part about the halt isyou don't know when it's gonna open back up.So it's been several minutes now, still not open.But we'll see, I don't know when it will open,but we'll see.All right, it is back open up here.Gonna put in an order down there.I did move my seller to 5.80.So we'll see how it wants to act here.That's why I only go in with the 500 shares,keeps things manageable.Oh, just lost the little chart service there for a second.So like I said, I'm gonna put some down there at five.And then also 4.85.Oops, that's not 4.85.So five and 4.85.Might pick some up here at 5.35give the way the price is acting right now.Looking like this may be some sort of attempted bottom here.And I'm not quite convinced.So I will go ahead and pause for the time being.All right, making a move back upwards.Or I should say at least attemptingto make a move back upwards.I'll keep you updated.I'm gonna try to pick some up at that 5.35 markif it does wanna drop back down there.So it's close.All right, I'll pause again.All right, moving down towards 5.35.But once again, nothing.All right, nevermind.We're gonna pick up some shares at 5.25.All right, I got those.So we'll see if I can get some moredown around that area of the chart.So it's still just 1,000 shares, nothing big at all.So still have orders to buy down at five.So lookin' like I might get those at five.A chance at least.It's working its way down there, come on.Come on.So close.All right, well if it looks like it's gonna work its wayback down there I'll get the videogoing again at that point.Okay, I got those at,okay am I gonna get those at, nice.Let me try for some more down here.Got those at 4.85.So let's see if it can get back up above the 4.80ish mark.Although another halt's looking like it's coming.Yeah, another halt's gonna hit.In fact.Is it gonna let me out, probably not.Nope, halted.All right, stuck in another one.Again, it's been a few minutes and still,no idea when this is opening upso that is the down side of the halts.So I'll do my best to keep an eye on itand we'll see when this opens back up.All right, it's back open.I have some orders out at five and 5.05.So let's see if this thing wants to work its wayback up above the $5 mark.So it's working its way up there.There's five, all right.See if it wants to work its way up a little bit more.It's trying.So put an order up there at 5.25.And at this case, all out there, $235 loss.Might have worked out, but I just got stuck in the haltand I had to go on a loss control mode there.In hindsight here may really be kicking me in the pants'cause my average was the 5.16,so theoretically, if I had held,I'd be in the green right now.But you can't play games like that,you can't fool around and in that situation,it clearly wasn't going.Nothing to panic about, which is why I like to startwith the 500 shares.I get it sometimes, trolls are like,500 shares, how are you supposed to?Well, this is one of the good sides of 500 shares,meaning that I got in with let's say 1000 sharesor something at first, you know, that loss could have beena lot bigger, so given the circumstances,thank you government for haltingand just not letting this thing trade.Could have been a lot worse, but $235 dollars,the beauties of a halt.And just to add a little salt to the wounds,I remember my average at 5.16, and now it's up in the 5.30s.So oh well, that's hindsight for you.The pain is real, I'm not doing this to complainor anything like that, I'm doing it to drive a pointwhere you're not alone if you've ever beenin this situation where you honor the system,you honor a strategy, you control riskand then all the sudden everything just goesand it would have been okay, I know.I realize, you're not alone,it happens to everybody, myself included.And that's the whole idea behind these live trade videosis to show you just a realistic side.Do I really wanna post this to YouTube, not really.I know the trolls will show up, well why did you do that,you could have done that as they judge me in hindsight,but it is what it is.But the people that watch these with, you know,how they're intended to be watched,hey, you're not alone.We've all been there.Well done to you if you're honoring your rulesof your system because yeah, this happens to everybodywhere you get out and all of the sudden oh,I would have been okay.But that's okay, that's part of trading.It's actually after hours here,gonna see if there's any sort of worth while opportunitiesNVIDIA actually has their earnings so that mightpresent an opportunity to pull some profits from the market.Also Apple all the sudden, I don't know why,but just fell off a cliff here in after hours.So gonna keep an eye on this one.But waiting around for NVIDIA to release their earnings,so let's see what happens.All right, have an order to short 100 shares at 165on NVIDIA, earnings are clearly out.So let's see if it can get up to 165.All right, I'm at 165, or excuse me 166for 100 shares.Went up as high as 165.90.Okay, I am at 166.50 now.Went and hit as high as 166.39.Let's see if it can get back up above 166, there it is.Nope, and just stopping there, literally.You saw it, just literally stopping right belowwhere I wanted, so I'm gonna go up to 167.50.Okay, there's the break.Let's see if it can hit 50 or not.All right, gotta go to 168.50and I am not moving from that spot.I feel very good about a 168.50 entry point.And so let's see, all right, there's the break of 168,there we go, all right.So we'll look to build some moreor if it wants to give me $50, I will take that.Let's go to 169.95 for my next entry point, just 100 shares.And I am out.All right, let's see, 169.95 double checking.Okay, put an order in up there and let's seeif it can work its way up.Well, I'm gonna go ahead and wrap things up.I need to move along with my day.And yeah, this was a losing day, it happens.I got bit with that, with the halt,so closed down 185 with commissions,probably right around 195-ish on the day give or take.It is what it is and like I said,I'll be honest, I do not wanna post this on the YouTube,but I hit that record button, therefore it is goingon YouTube and I guess bring on the trolls.But it is what it is, everybody takes lossesdespite what they may try to portray.But it's all about just managing the lossesand keeping them small and you know,we'll just call minus 195.I'm very confident that I can dig myself out of a 195 holeover time, so as weird as it may sound,yeah, I'm happy that things that are manageable, right?That things were kept under control.If you are interested, these are always goofy kind ofafter I take a losing day, it's like well why wouldanybody wanna sign up or anything,but I'll still throw it out there.If you do enjoy these videos though and you want meto keep making them, click that like button.That's the easiest way to communicate that to me.Check out the channel too, lots of other different typesof videos on there.If you are interested, this is the goofy partabout trading alongside me and other quality traders,then I do offer a chat room.You can go to claytrader.com.It's only $99 per year.If you do the math it breaks down to like $8.25 per monthor $1.90 per week, so I mean come on.As I always say over the times span of 12 months,I'm more than confident you're gonna get at least$99 worth of value.I'm not exactly setting the bar high, but hey,it keeps out the pumpers, it keeps out the trolls,and we have a nice little community there.And then finally, if you're interested, and again,this is kind of goofy, but if you are interested in learninghow to control risk and stuff with charts,you know, how to trade with charts, then yeah,I offer video courses on that.Again, just go to claytrader.com.So losing day, but it happens.And tomorrow is a new day, thanks for watching.One of the biggest questions I get is hey Clay,how do you find the stocks that you trade?So what I've done is put together a free resource guidewhere I talk about the tools that I useto locate stocks that I find interestingand think may have potential.So if that sounds like something that could add valueto you as a trader, then click on the imagethat is up on the screen right nowand I will email you the guide.The guide itself is very short and to the pointand the best part, it's completely free.Thanks for watching the video, let me knowif you have any questions.

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