Tesla can't catch a break down about 5 and a half% today and we know the stock has sold off drastically in the past couple of weeks and we did a pretty damn good job in the beginning of staying away not looking to buy the dip and it really wasn't until this pullback to 330 that this started to Peak our curiosity we've seen price continue to sell off over the past week week and a half and then finally as of yesterday March 5th we saw that daily BX make higher lows and this was giving us an
indication that price would maybe bounce back to 300 325 or 340 before unfortunately one more selloff and the worst case scenario here actually happened price sold off price hit a lower low the BX closed with a lower low which is an indication of weakness and it looks like worst case scenario we can see that pull back to maybe $225 if we zoom out to this weekly chart you're going to see that we're still holding bullish structure the reason that we became bullish on Tesla in the first place back in May and June is because price
broke over this resistance level we saw buying on the BX trender and this was our main reason to get into Tesla you can see over the past couple of years we really didn't start trading Tesla until end of May early June and it was for that specific reason once structure broke you can see that we're no longer making lower lows and lower Highs but instead higher lows and higher highs and just because Tesla's at an extreme disc account where we are right now does not mean that it has to bounce in most cases we want
to see that Weekly chart make a higher low or a higher high this has been our indication and reasoning when we bought that breakout in May June July and also that breakout again in October November December and that has yet to happen on Tesla as of right now now for those of you and including myself who are trying to time this bottom a bit what I've been looking for is higher lows on The Daily BX to hopefully catch this bottom early and then play that sustained breakout to eventually watch the weekly make a higher low
and then play this for the next 6 to 10 months up to maybe $550 to $600 now the issue with this is while you get much better risk versus reward than waiting for that Weekly BX you also run the risk of just getting in and timing too early of an entry but we know that losing isn't really an issue I mean on Tesla alone we only have a 65% win rate in total $1.7 million profit which is huge and you can see we have a profit factor of six with an rvr of 3 to one
that is a very healthy risk versus reward with a pretty damn good win rate and that's all that matters like at the end of the day that's why I don't care about coming on here sharing my trades with you guys and then people commenting oh you lost or what happened to this well bro I lose all the time like I'm not worried about that I'm not worried about losing I don't know where we came into this expectation in this world that we shouldn't be losing especially when it comes to Trading and I've done this like
a 100 times over but we're going to do it again today let's just take a look at my 1our trading bot the entry requirements are so simple price over the 11 price over the 50 14 RSI increase 2% takeprofit 4% stop- loss super simple trading this over the past 8 years we would have made a 6,790 per return with a 70% win rate I want you to understand how freaking cracked that is but here's the more important aspect to this even with this type of return even with this amazing setup we still would have experienced
losses we still would have experienced a loss streak of five in a row that were losers and we would have experienced a 41% Max draw down realize that that with this massive return and this winning system we would still have lost 41% in a Max draw down that means that let's say our account went from 50k to 100K in the past year a 41% draw down means we went from 100 Grand to $59,000 and think about this how many of you this is including myself when I started out trading would continue to stick with that
how many people would actually be able to sustain that type of draw down and the thing is like not that you shouldn't experience that it's the fact that your expectations are just messed up if you came to me or if you came to a profitable Trader and you said hey you know is a 20% 30% 40% draw down normal well with an actual system not just overleveraging all of your positions but following an actual system then yes that is normal and so really it's just shedding a light and changing the expectations that we have about
trading and the problem is that's not sexy because with proper trading you can't be right all the time you can't live this life on the internet of Untouchable getting everything right boom boom sniper person like you can't do that and you guys see with me like I really feel that the big reason we've been able to amass such a big following is the fact that I'm just authentic and I'm wrong and I just own it it's it's just weird it's a superpower it just I don't know but my whole point being that if you had
the proper expectations instead of these expectations that the internet portrays to you you would understand that everything we are experiencing at this point is normal and if we zoom into how the portfolio would have done or would have looked over the past 8 years you're going to see there were plenty of times not just days not just weeks sometimes months where we were down for multiple where we were down but eventually we always made it back but the problem is that all of this as simple as it is goes against number one our human nature
naturally and number two against Society and society's pressures because nobody in your life tells you go ahead and fail go ahead and lose money take all that money that you've worked so hard for and just be okay with losing it nobody tells you that because we live in a world where everyone's supposed to save everyone's supposed to work harder everyone's supposed to do all these things you're not supposed to lose money you're not supposed to look like an idiot you're not supposed to fail publicly you're supposed to be perfect and the people who really do
this people who really live this life they know that's they know it's complete they know the only way that you get good at something is by failing at it they know that losing no matter how Ironclad your system is is just a part of the game and so they don't let it get to them they don't give a when people are saying that they're idiot they don't they don't let it affect them and I don't let it affect me and are there days and are there weeks where I'm experiencing draw Downs that I just sit
there and I'm like sucks of course there is but that's also why when I'm up massive I don't attach myself to those gains and I don't attach myself to those numbers because in 6 months I could be experiencing a significant draw down or in 6 months I could double my money like but that has taken me nearly a decade to get used to and that's what I try to explain to people is the mechanics of trading are so simple but sticking to this is so rough now to end this video I think that Tesla is
nearing a bottom but we need the daily BX to show some sign of higher lows once again hopefully from there flipping the weekly BX if you just want to be patient if you want to wait wait for the actual bottom then sit back and wait for that Weekly BX to finally show higher lows probably won't be for a couple of weeks if you want to get access to these indicators so that you can follow this on your own and learn my twostep trading system for free just go check out our free course Library link is
in the description recommend starting with the elite Trader Playbook and if you want to get access to all of my trading Bots all my real-time trade alerts as well as all of our private indicators you can join our Discord Community Link is in the description I do recommend that you've been trading for at least one year already or you've taken all of the free courses the link to that will be down in the description you can use the code bx50 to start for 50% off your first month
