Burn Baby Burn! Finished the Week in The Red

Burn Baby Burn! I will never wear the dreaded color red again. I was having a great week and then I lost $11,000 today. I’m still up $20k on the week, but I’ll be spending the weekend thinking about today’s loss. I took two trades today – $BGI (Birks Group) -$4,000 and $CDNA (CareDx) -$7,000.

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46 thoughts on “Burn Baby Burn! Finished the Week in The Red

  1. TMAX

    Great video of what to avoid! Thanks for sharing your life lessons.

    I have one thought; when sharing your screen, it is very blurry; yet your overall video and facecam are 1080p60fps. Are you recording in 1080p on your screen capture software? It's just very difficult to see the details when you're recapping your trades.

    Still a great vid 😀

  2. blackmagic

    I know that feeling too well. You get pissed at missed opportunities but you never actually lose money with them.

  3. Richard Bratton

    Ross is a genius, this is why he is so great! He is actually relatively unphased by losing, he accepts losing and makes adjustments as it should be done. That takes time and hard work to get to that point. If you can not handle losing correctly, you can not succeed as Ross does in trading

  4. Bruiser Entertainment

    Hey Ross great content! I've been trading for a little while and wondered how most traders are able to set stop losses and still sell to make profits. In my experience when setting a stop loss the shares are tied up in that order and it must be cancelled prior to performing a sell. How do you get around this? I'm using Sure trader's platform.

  5. Tom McMahon

    Could definitely hear some emotion in your voice. Keep up the good work, ross. I love your content.

  6. AA

    If you move to Puerto Rico and become a resident, you do not have to pay tax on capital gains. Ross, that would be over $100,000+ extra in your pocket in 2017!

  7. david selmon

    Too many negative variables On Friday and SPY volatility didn't help. Looking forward to joining your chatroom at end of month.

  8. game walkthrough

    dont do this again during the full moon on march 31 you are going to be feeling the same.

  9. Law LeeGod

    I’ve just invested in a penny stock I am not a day trader when can I sell my stock without being penalized

  10. Francis Paquette

    Hi Ross, great video again sharing knowledge. When the tide turns quickly like this, what kind of order do you use to exit all your positions at once, stop-loss or stop limit order ?

  11. Jaden Grant

    It's Finance man, you will take losses, but at the end of the year I am sure you will be where you want to be. No worries, champ!

  12. Damian Hartman

    Ross you mentioned something that got me thinking about buying into halts working all week, but then not working on Friday. I was thinking that over the last couple of months I've seen this happen to you just a few times, and that I think the markets were down a little yesterday morning. So I was wondering if there was any correlation between the markets being down and buying into halts not working out like they normally do when the market is having somewhat of a strong day? If you could Review the trades and post a video on the trades you've made buying into the halts and having them go against you and see if they were on days where the market was down at the time. So that maybe we can see if we need to adjust our strategies in that area on down days or just be more prepare ourselves for lower expectations when getting in.

  13. G A

    Hi Ross, I think that you are a great trader, every trader and I have learned a lot from you. Even not I'm not an expert and make a lot of mistakes. I think that you did not notice the overall picture. The market was selling of hard I think the majority of stocks go down hard also when this happens, very difficult to go long in this situation. Thoughts on this?

  14. Geoffrey Pounds

    Hi, have you ever had a trade idea alert steal focus on your computer? Any ideas on how to prevent that? for example: I am about to make a trade on my DAS trader only to find out it is not the active screen because of an alert from trade ideas makes that alert active. Thanks

  15. ZoZo Stock Watch ZoZo Stock Watch

    As a trader you can't get overly aggressive but sometimes it happens "emotions" Market humbles everyone As traders we have to bounce back and move on. Good luck Monday

  16. Mustafa Baris

    Isn’t it amazing that after all these years of experience in the markets , we are still making the same mistakes ..! Human mind is an amazing thing .. I think that wearing red had something to do with it , not being superstitious , but those things could mess up one’s psychologically unconsciously in a very mysterious way .. And I think daytrading is one of the most daunting jobs psychologically.. But if done right , it is probably one of the most rewarding jobs financially and in many other ways .. I guess having a 5 figure loss is part of the game if you are playing the game of a million dollars which you are .. And been watching you and your videos since your day 1 with 583 with Suretrader , I am pretty certain that you will hit that one million dollar milestone .. Here is my question that I have been dying to get an answer for from you : I am pretty sure you will be written in history books as the guy who turned 583 USD into a million dollars some day .. My question is : You have been doing this for 7-8 years I believe , but it’s the last two years that you have really taken off that you have really perfected your game.. What are you doing differently since day 1 with 583 USD than you did in your early trading days ? Because it is pretty much the same stock market ( Bull market ) , same patters all over , similar looking charts .. I am really curious to know what is THAT thing that you do differently today ? Is it your stock selection ? Focusing on stocks below 10 USD ? Is it better handling emotions ? Is it cutting your losses with a stop limit ? Or is it the trading hours ? I know you trade the first two hours most of the time .. Or is it the tremendous courage and responsibility to be doing this in public ? Or are you getting more sex than before ? 🙂 Or is it something else ? I would love to get your answer on this .. I think it would help other experienced traders tremendously.

  17. Tamas Giran

    Hi Ross! Thanks for the lesson! I can feel your hard time and still sharing it is really kind from you. Also, I thought you have a max daily loss limit. Wouldn’t it be a good idea to cut the trade off completely that day if you cross a certain loss. Just asking for learning point.

  18. Michael Larson

    I don't mean to sound like your loss is a good thing but this is what I needed to hear. I have had a really hard week. I spent last week swapping my funds from one account to another and during that processes I stopped watching the stocks because I knew it would just frustrate me to see great spots to get in and not being able to. Well this week I started trading again and every day was red. Now I am not talking 4,000 red but for me it was 100-300 each day and I was really struggling with it. Today I went green because I said you know what I am going to do what I did before. I see a stock and I know its position is good to get in I will. Sure enough this morning I went up 100+ after that I saw a movement got in NFEC made a dollar profit on my share and jumped out knowing it wasn't worth the risk. Next I tried one more that I saw a good position and was at its low and moving green and made a bit more. I am back in the positive for the week in 1 day and sad to say it was because I was being reckless and impulsive all week.

  19. Nicholas P.

    ROSS ROSS ROSS – Red is a great color, it happens to be my favorite color. RED did not bring bad luck to you. You traded RECKLESSLY and you know it! Bad luck from the red shirt would have been taking a position on what you traded today then losing all contact to your broker via internet, phone ect and then the stock tanks to all time lows, that's bad luck! It's ok to sit on your hands sometimes when things are not going well or setting up, defense first. Please take this as constructive criticism. With that said I've learned a lot from you and have finally turned the corner on trading learning from you. RED DAYS SUCK! But red shirts are cool even when your trading. Your awesome buddy thank you for everything you do.

  20. Anis Hersi

    Hey ross, on fast moving stocks like PROP, SNDX, CALI. Did you use market orders or limits?

  21. Rumo Llc

    Ross Dont even sweat it, Your going to Bounce back like a Champ…just go back to your max loss of 1000 rule…. If u Want to Predict the Future look at the past! (WARREN BUFFET)

  22. Kadeem Perry

    You chased high af on CDNA and got burnt.. You definitely don't teach that in your training courses. You always teach to wait for a pull back, even on the next 1 min candle

  23. Oliver Torres

    Hey who is that? Ross replies "Red". Who's Red? Ross replies "Red is dead baby..Red is dead ". Ross your so PulpFiction bad ass!! Burn baby burn!! Green Monday!!

  24. Pierre Masquelier

    I love your idea of an auto pause or warning to your trading, for even 5 min, immediately following a loss, greater than X. X would be different for every trader. Does this exist?

  25. Garage Trader

    Ross.. by your title I assumed you were down over 28k and gave all the weeks profits back. you have taught me so much..keep your head up.. at least it was only 11k in the grand scheme…but remember just stick to your "trading morals" …

  26. Gwent Champ

    Don't worry !! You'll take revenge on the stock market soon !! Don't wear red ever !

  27. Moneyclip

    Hey Ross, You are the real deal. Your knowledge is limitless. Thanks so much for sharing with us. Please don't tell us you are going to keep your red socks.

  28. Ken Huynh

    It's just how the market is sometimes. Market was strong all week long. Enjoy your weekend and be back strong on Monday. ??????

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