Stock market, Stock, Trader ing Market Sell Off? $TLRY $SNDL $RIOT trading recap
When you are in day trading man, you, you have to deal with the good and the bad that’s just the reality, so the entire green sector was kind of like the main play for me this week, um specifically on the stock tail rate, t l r y Yesterday, the price action on tail rate was really friendly for both on the long side and short side uh, and i played on the both sides. Uh, you can see this thing sold off. I was involved in the first bounce buying the flushes around the up and selling to the pushes, and once it failed to test this opening high around 66 dollars, you can see the lower high rejection that’s. Why scalding on the short side covered into the flushes around the pre market, low levels around 52 53, and i did like flip back and forth long and short? Just because the range is very nice and the stock is very volatile. It follows the technical support and resistance, very nice, so uh covered in my shorts and played the long side into the bounces and that’s, where you can see another lower high sets in right. This low is, you know, a lot lower than the the the previous low like lower height. You get what i mean right, um and that’s, why i scaled in short, uh around v wap, where it failed the sixty dollars um, covering to the push um. I had a pretty decent size on a short side around 60s and then added into a downside move.
You can see this thing, flushed all the way to 48.49 um that’s. Why? I covered all my short position and then flipped long. I did kind of you know, get caught uh alongside a little bit too early, and you can see i had to stop out for a loss on the long side first and but this thing bounced back um very nicely, um that’s. What i mean by i like the stock when it’s very volatile, very nice range – and this plays on both sides as being real like you, don’t, want to be always be too long, biased or short, biased, um like today, until ray like, i was alone bias, and I got killed so this inbounds um after this flush move to 48. I was only long and selling to the pushes and you can see this thing reclaimed higher lows, v op and this thing went after hours to 70s and gapping up pre market today. So that was where the big move was made for me until ray both on the long side and short side, um and uh. You know i i really liked playing the stock yesterday because, like i said it like, followed um, all the levels pretty well and you know the range and the volume and just very, very um, nice trader. But if you look at the weights trading today, it’s a completely different story, uh, you know looking at the five minute chart that was yesterday, this thing gapped up to 76 and then we just sold off pre market literally no bounce whatsoever uh, even though i do Have locates available to short tail rate there’s, just literally no bounce like i have this rule of not shorting weakness um, so i didn’t short um till rate at all.
Today i was looking for um the bounce move right. The same way i played tillery yesterday, i did getting a little bit early pre market with just small size uh, like i mentioned many times before before when i trade pre market, whether it’s long or short, it’s, very, very small position relative to my full size on That um, so i had a small starter long around the pre market, dip 53s and i didn’t open this thing just tanked and there were just no bounces whatsoever. Um you can see. I took some pretty decent losses on this um, even though i longed here and loaned here, i want to sell into the push i was looking for, like a potentially 55 even 56s push and even 60s that’s very possible. I mean if you look at the way this thing traded yesterday, it’s 10 points move up and down, but today we just didn’t get that and so i’m sure someone big was kind of unloading, their position uh. You can see this thing bounced to like 52 barely and it just sold back down uh i so i took a couple hits on this. I had um three tries total, so took a loss here and then and then over here again, you know should have sold into the push, but i was looking for a lot more to you know, like i said: uh, 55, 66, 56 and 60s above we just Didn’T get that and that once it failed, we walked.
I cut my long position for loss, tried it again on starter size, didn’t work cut it again, um the the final trade kind of worked around the 41s. I added here um 42s, when it starts consolidating. I added some more on 44, so uh and it sold into this push, and you can see this view up just rejected hard. We couldn’t really even test 50s again, and you can see this thing just kind of bleeding out all day, uh, so that’s, a pretty nice loss i’m, not gon na lie. It was not. Fun gave back a lot of the profit from yesterday uh, but i’ll, be okay like i’ll, be fine to live to trade. Another day so definitely gave back like what um like one third of the profit from yesterday, not fun um. So but you know i have this rule of like trading the stock for a maximum of three trades and if all three trades i just got it wrong, then i leave it alone, so that i think that rule really saved me today. Um, the third trade did work out, but it doesn’t just in a constant downtrend all day, barely no bounce at all and that’s. A pretty big sell off from you know: seventy dollars free market and the previous day closed was 63 dollars and uh and just dumped right at the open, 55. Now, down to 37., so it’s down like uh, like 40 percent on the day on for tillery, so yeah so difficult to trade.
Today, at least for me uh, i mean in hindsight it looks like you know, it’s, a better short but there’s, just no short entry whatsoever and the stock already triggered ssr. So you know i have to follow my rules right same thing. I followed my rule. Um uh no trading after three losses on the same same ticker, my rule of not shorting stocks on ssr on weakness, um. I have to stick to that, even though it looked like it would have worked today and if you look at sndo it’s a very similar idea right. This thing gapped up um overnight from three to nineties to after hours, 370s and 480s. This morning, almost five dollars and the same idea just kind of downtrended the whole day um after the the opening sell off from four dollars down to um 275, and i don’t know if this was a real print. But that was a nasty nasty unhold and you can see this thing. Just cannot reclaim the previously glows area around threes to go red to green, so very similar charts, as till rate they’re just down trending. Someone big is just unloading. The position on these um green stocks all day, even though i didn’t trade smdl, i was looking at um, the potentially the short side of the test, the previous 350s or the three dollars. But after my tail rate loss three times let’s just say i was a little bit defeated um, so i decided not to like force trade, especially on a day like today, where everything’s selling off um.
If i try to chase the weakness on the short side, it feels like it feels like i’m chasing, so i got ta be disciplined right. No, like i’ve, always preached uh on this channel. I do have red days. I do take losses but uh. I don’t like let my red days balloon into um. You know something that’s unrecoverable another small trade today is riot um. This is the the bitcoin play. Uh bitcoin hit new. All time highs around 49 000 today and riot was gapping up um trended up higher. I didn’t play it at all until i see this pretty big dip um around the 4280s that’s, why i got long, i even added around 33 44s. I was looking for a push to 44 dollars and reclaim viwa, potentially higher, but notice these candles. You can see just not a lot of wicks, so that means every single bounce is sold into kind of, like the like till rate. Every single bounce, like 50 cent bounce one dollar bounce and just sold into so can’t fight it. So i i just got out for a small profit. The other one i also lost on today is why i, but this one i only had a started size. I kept it pretty tight uh, you can see same idea was looking at the consolidation sub vu up around 35 after this morning, push to 46, but i just sold off with the rest of the market, and i stopped out following my risk for a small loss On that, so definitely a very humbling day.
For me, you know by the dip right everyone’s saying that, but it works until the dips keep on dipping um, but that’s why risk management is very important. I never averaged down. I never added to a loser. I kept on stopping out of my predetermined risk level and i’ll. Try that again three times and once that doesn’t work, i just leave this thing alone, so that’s helped me out today. My loss would have been a lot bigger. If i didn’t follow my rules again. Risk management and following your rules and discipline, are the things that’s gon na, protect you on the days that, where you are just wrong again, the six thousand dollars loss is not fun but it’s, one that i can recover from and it’s, not a permanent damage. To my account, so i guess this money tree moolah isn’t really doing its job, so i just have to take it out in the trash now just kidding. I won’t do that. I’Ll i’ll do it after chinese new year. Hopefully, this video really shows you guys the reality of day trading it’s, not always rainbows and sunshine. It’S, always you know. If you want the good, you also have to deal with ugly as well. Also before i go, i just want to remind everyone that there’s a lot of these fake, humble trader accounts in my youtube comments. Just spamming, everyone’s comments with their whatsapp number, with a phone number telling you to you know they’ll manage your account for you.
Please do not fall for this. Please report. All these fake comments. I do my best to report and block all those scammers, but every time i block one two more show up. So please be smart. Please do not fall for it and please help me report these fake accounts. Thank you guys for watching. I hope you guys are staying safe and i’ll. See you guys next time, hey guys thanks for watching. I hope you enjoyed the video and the bad jokes. If you want to see more day, trading content make sure to subscribe and follow me on twitter and instagram for more. If you’d like to trade with me daily and get my free weekend, watch list and trading journal make sure to check out the links below for more resources. Stay green, stay, positive and i’ll.