How I Made $75K Day Trading $TSLA (12/23/21)

What's going on, guys? So in this video, I'm going to break down my trading day for December 23rd. So today we had some massive, massive opportunities in the market. The biggest trade of the day or the biggest trade that I thought was great was Tesla. We also had spy, we also had mu, but obviously like I mentioned before, I typically focus on one or two high quality trades and kind of take it from there. So this was my day, day for today. I made about 75k, took about 3 trades, ignore the first one, once again made about 75k. And I want to dive into each one of these trades and just kind of give you guys an idea on how each trade looked and kind of dive a little bit deeper into it. So with that being said, let's go right into every single trade that we got. So first and foremost, let's go into the first Tesla trade. So yesterday on Twitter and on the SML Discord, I kind of put out that Tesla has tons of OI, meaning tons of open interest at the $1,000 calls for tomorrow. Watching the market for an opening drive play on this one if strength stays. So now a few things. The opening drive play didn't happen as clean as I thought it would, but we did get the, not the midday, but we did get momentum on the first 30 minutes kicking in. We also got a very strong market on the open. The opening drive did kick in with the market, right? So now going into this play, this is the overall outcome for Tesla. Now obviously the first thing that comes in any trade is having the trade in your watch list. So Tesla was one of the main watches alongside with Amazon and spy. And like I said, we had other good movers like MU as well for the day, which I won't get into because I didn't trade it. Now looking at spa, you guys can see this is what I mean by an opening drive play. You guys get extreme strength right on the open, a lot of aggressive buying power. Typically, stocks tend to continue and if I did not take the Tesla trade, this was a trade I was looking for. I completely missed this. I wish I caught it. I think this would have been another great catch or another great trade, but obviously way too focused on Tesla. Now diving into Tesla, where did my first trade kick in? So let's go into that trade which is right here. So on this trade I put about 80k, made about 96k, 120%. My stop loss was around 7 based on my entry point, I risked about 12,000, walked around making a 8R this is not normal, by the way, guys. And I said the same thing on yesterday's video. I don't care what someone makes. Like, this is not the number I care about. What I care about is what someone risked on the trade and, and what someone basically made based on the risk amount on this trade, which is about 8R, I made eight times my risk amount. And guys, this is not typical. Typical levels like this is not what happens most of the time. Sometimes I'm at a 2R, sometimes I'm at a 4R. And even 4 is very, very good. But my average or average Rs you're going to get is 2.5 to maybe 3.5 or 3, which is still very, very good. But there will be certain trades, like I said, that you will really scale into and build a massive position. So obviously I'm going to go over my entries on this trade. As you guys can see, when I did take this trade, I scaled out, taking my first entry, scaling out, scaling out, scaling out, scaling out. Right. So looking at all my entry points and just going deeper into the chart and understanding that. So let's go down. Right, So I entered with about 97 contracts, tried to get 100, got in at 825, put a stop at seven, a $25 loss. Got in around 959, around a little bit before 10am so just understanding that point. Right, right. Looking at 959, this is where I first got in. We got the second, second, second time Tesla's trying to break, I'm seeing a nice hold around 1,005, 1,000 overall. So I'm like, you know what, let me take a position here. If this fails, I'll exit and maybe look to reverse my position on the low of the day. That was my original game plan after price had formulated. Now, originally I thought when Tesla opened up, we're going to get the heavy opening drive. But the rejection at 1013 kicked in and then we got the second rejection. So that kind of scared me. So I was like, you know what? I'm seeing a hold here. I'm going to take my position. After getting that nice hold at 10:07, I took about 25 contracts off, which is around right here. Now, the reason I took 25 contracts off is because we saw, you know, a few rejections here. So after we got the first break, I was like, listen, I got the first break. I got out at 1189. I did well on that trade. Let me lock some cash flow in. Made 9k on that. Made 9k, let me walk out and. And take it from there. Instead of, you know, trying to write a 100% play. And I always talk about it. I try to produce cash flow from my trades. I try to scale out just so it's easier for me to hold this through. And, you know, it was more of a risk off day just because this kind of threw me off. And I don't want to get trapped in here and it dumps. So after that happens, we keep going down at 1021, 1027. My other 25, 25 share exits. I mean, contract exits. So you go to 1021, we start seeing a slow rip right here. So right when this starts slowing down at 1025, I take another 25 contracts off. And you guys can see the reason I took 25 off here is because as we start seeing price accelerate, I started seeing some slowing down here. And I was like, you know what? Let me lock some in just in case there is a pullback. I'll do well on that original trade. So on that trade, made about 18k. Sold it at 1548. Then the next 25 was around 1027. You go to 1027. After we get the huge push up, the first drop here, I was like, you know what? Let me exit again and scale some out. Scale some out there too. Made about 28 on that position, which was a 1949. And my last 22, 22 contracts, I exited around 1046. You go into 1046 just to get an idea of where that is. It's. It's kicking in right here. Now, obviously I sold in right here. If I waited a little bit, I would have or could have probably made more. But the idea here is I sold as the stock price trying to go in. I sell into the rip. So just to kind of break that down, Whenever a stock is going up super, super fast and I do options, I like to sell then because at that point, my ask will get filled. I will get filled at probably the highest point opposed to selling on a heavy sell or a pullback. Right now overall, looking at this trade, once again, just breaking the component of the trade down 120%, 7R yada yada yada. But what I really want to talk about is, you know, mentally, when we go back to trades like this, it's very easy to get caught up, right? It's very easy for me to say, hey, I got in the 825.

My last exit was at 27 to 5. If I held this position, I could have maybe made 200k plus on the whole trade if I held the full position. But in reality, I always talk about this. You're not going to catch the full move, right? You want to play the long game, and for you to play the long game, you want to make sure you scale out. So every time I get in a position, it goes my way. I produce cash flow, I produce cash flow. I get out. I take profit. I take profit. And I try as much as possible to mentally eliminate the idea that, hey, if I held from here to here, I could have made 200K. And you know, as humans, these emotions are going to come up and it's going to happen, but that's totally normal. We want to try to eliminate that as much as possible. And I also always focus on this. The idea is to focus on the long game, right? You want to try to be consistent over and over again and make money. You don't want to make big money on one trade and then give it away in another trade and have your P. L look like this. You know what I mean? So just keep that in your mind for the next time you know, you are taking any sort of position. So that's the first trade. So, you know, I start my day, I'm up 96,000, close to 100k. Then I take my second trade. After taking my second trade, I go from a 96kp and L all the way down to a 70k PL. You know, I go in heavy. I was up on this trade about 10k, walked away making losing about 27,000, 26% negative 1.7R. Terrible trade, terrible trade. I didn't follow my stop. You guys can see if I followed my stop here, I would have saved a little bit money. I scaled in too heavy. So let's go in this trade at 1105, right? So I kind of got trapped in this. So I got in around here. I remember this one there. I see this, this breaks out. I wanted to take a trade around here and I was like, you know what? I missed that trade. Let me look for a consolidation. After I see some consolidation, I look to get in. We make a move into 1140, I mean 1048. Sorry. We hold this whole zone. Once we start holding, I add to my position after having a position which is at 1105, then at 1106, I add another 60 contracts. So I have about 100k position built in, which is about 140 contracts on on Tesla. Once the 140 contracts are present, you guys can see it at 11 oh, six, right. What happens right after we start seeing a massive flush? Once the flush starts happening, I obviously start liquidating. I get out at 1109 and 1110. And when you look at those positions, 11 or 9, I scale out heavy here, and then I scale out another heavy zone here. Now, ideally, going back to this trade, I could have done better, right? And this is why recapping your trades, journaling your trades, looking at your, you know, entries and exits is very important. Because when I look at this trade, it gives, it just shows me like, hey, I sold, right at support, right? If I waited a little bit, right, if maybe I could have put on a little bit more risk, right, and let it let my allow myself to see Tesla close below 1040. If it did, I could have maybe focused on taking a small, a bigger loss for a tighter play. But I obviously sold on this. I'd want to say panic sold because the profits, you know, my 100k went down to almost 70k, 60k. And I was like, you know what, wait, let me start scaling out. Maybe I'm getting in at the end of the move. So I got out. Looking back at this, this was a place for me to hold, stay still, and maybe look to add. So my trade should have been either here or on this breakout. I think when I took the trade here, I should have also exited earlier. I just, you know, didn't exit the right way. And my ad is what killed me. I shouldn't have scaled in 60 contracts at 742 on this move up. I should have waited for the continuation or the hold. So a lot of things went wrong with this that could have been improved, but nonetheless, you know, still walked out the day pretty solid. Then obviously the last trade of the day made about 5,400 on this Tesla call, 1.8 R, risked about 2,800, made about 5,400. Not, not the craziest trade I'd want to say. But overall, you guys can see gotten 80 contracts. And this is another, another, another thing, right? When we look at this trade, guys, like, I'm like, damn right. Because once again, if I held, I could have made so much. I could have done so well. But follow your plan, keep it consistent. So we, when we go to 1157, right? Let's, let's look at this. This is interesting. So I built my position here, right? And once again, at this point, I'm in love with Tesla for the day, doing very well. I'm like, you know what, let's look, look at this continuation Price is coiling up, seeing the 1050s hold very well. So I'm like, let me build a position. So I build a position around 1158, right? I get in 80 contracts. I'm like, you know what? I'm going to get into a startup position on the rip. I'm going to look to add another 50, but because of my last trade that was right, I'm going to be a little bit more cautious. So seeing myself enter at 506, you guys can see at 12, right? At 12 o', clock, we start seeing the rip. And I'm like, you know what? I want to see a pullback. I'm going to add right? When we get there, immediately, we get a heavy rejection. And on that heavy rejection, obviously we see this rip right now. On that heavy rejection, you know, at that point, you're seeing like, oh, man, what if. What if this is a trap? What if this is a straightforward play? What if, you know, market makers are trying to get everyone in? I'm like, you know what? Let me exit. I'm kind of up on my position for now. I'm up about 5,000, 6,000. Let me quickly get out, right? Opposed to just trying to chase a player, chase something, and, you know, burning myself even more so I was like, let me exit. And then obviously a few minutes later, when I looked at it, what happened right after kept going higher. I remember the contracts on this, if I'm not mistaken, were like $9, $10. So this would have been another 40 or 50k trade if I just, you know, wrote it out and it would have just been a rip. Look at that. Good entry. You know, got faked out a little bit. Maybe should have allowed my actual stop to kick in. Didn't let that happen. My actual stop was around $454. Somewhere around there. 470. There you go. If I let that kick in, you know, it would have been a much better trade, in my opinion. But I walked out making money and I was like, you know what? I'm up. Let me call it a day. Let me not get trapped. And that's that. So that's my. That's my day on Tesla. Very, very great day. Just want to leave you guys with a few tips. Number one, leaving money on the table is part of the game, right? I don't want to say it's really part of the game, but it's gonna happen, right? Like, you need to get comfortable with the idea of scaling out. You need to get comfortable with the idea that you won't always capitalize on a full move so you won't get in here and get out there. Your job as a trader is not to make money on this whole thing. Your job is to maybe catch this piece. And your job is to catch this piece a thousand times, not to catch this big piece two times, you know, and then the other times you start giving the profits away. Right. That's a huge thing I think traders need to implement into their routine, into their trading. With that being said, I'm going to end this video. Thank you so much for watching, guys, and I hope you guys have a great weekend.