 What's up everyone? So today is Friday. I don't usually do videos on Friday But the market has been so slow that I'm kind of doing this to kind of keep me safe from you know over trading So as you can see from the title of this video, we're gonna talk a little about dogecoin We're gonna talk about a lot of crypto stuff or we're even gonna talk about some common questions that I'm getting so First things first is this is a stock market channel. It's not a crypto channel. So let's talk about what's been happening in the stock market As you guys know Coronavirus made the stock market and day trading one of the most popular things in the world We had non-stop action. We had non-stop runners. We had non-stop everything It was every single day was Christmas in the stock market and all of a sudden, you know We're in April and nothing is fucking moving small caps are tanking large caps just keep going up and Seems like the only other thing moving is crypto currency, right? So what happened? Why is the market slowing down? You know, what happened to all the volume? What happened to everything? So I think it's a combination of everything guys. So I think it's one of I think it's a couple things So let me start with the first thing that I think it is Number one is I think all of these inexperienced traders that started trading, you know one year ago to six months ago I think they lost all their money. I think they blew up I think that sharks like me sharks like bow sharks like the members in MIC took all their money That they pretty much got nothing else to trade with right so because of that because of their Accounts being blown up. I think there's a lack of buyers and a lack of chasers in this market. That's my one theory Now my second theory is this remember that hedge fund with that billionaire guy that lost 58 billion dollars in like three days He was doing swaps on a bunch of these stocks I have a theory that what if that guy was one of the main algos on this small Cap stocks and because his fund blew up, you know, that algo has also blown up and disappeared as well So maybe that's that's a conspiracy theory That's just me throwing shit out of my ass But I would not be surprised if some of these hedge funds that had these algos on the small cap stocks Might have got them blown up on them. That's another theory, right? Also the final which is probably the most common thing that happened is Guys, it's summer, you know for those of you that aren't around or those of you that just started trading a month ago a Year ago six months ago summer Historically is one of the slowest times in the stock market. Okay, hedge fund managers Traders everyone is going to Bora Bora. They're going to Mekinos. They're going to Tulum. They're going to party They're leaving right they're going to the Hamptons. They're doing all this stuff So summer has historically been very very slow in the stock market Last year was an anomaly, right? It was an anomaly. This was coronavirus was not supposed to happen And because it happened, I mean it went crazy. So this is normal market action guys So let me tell you what's going to happen in this action Chatroom chasers chatroom pumpers are not going to have enough power anymore Their pumps aren't going to be working because there's not that much attention There's not that much idiots out there anymore all the idiots lost all their money, right? So all the idiots lost all their money. So these pumps aren't working anymore So what's going to happen is a lot of people that are new to this game a lot of people that are new to this business Are going to slowly bleed out their accounts in the summer. Okay, so what's going to happen is they're going to keep fucking throwing darts They're going to keep buying shit pre-market. They're going to keep buying pumps They're going to keep buying all these junk and because it was running six months ago They just got lucky. They had no process. They had no routine. They had no strategy They were just gambling and now after six months after a year when the market is kind of going back to normal When it's only the experienced traders left those guys those Inexperienced uneducated traders will not be around anymore. So My advice guys is if you guys are seeing people on Twitter and you guys are seeing people on Instagram banking You guys are seeing all these guys make money Okay, sure whatever no problem, but remember as a professional trader We get paid to Trade an edge we get paid to exploit an edge We don't get paid just because we're at the setup the difference between a normal job and a day trading job Is when you go to work when you clock in you're getting paid When you go to work here, you're not getting paid until the opportunity comes along So why would you keep trading if the opportunity isn't there, right? So the analogy that we like to give is trading is like blackjack But imagine in blackjack that you could bet after you see your cards So wouldn't you only want to bet on a 20 blackjack hand? Wouldn't you only want to bet when the odds are in your favor? You know what we've been having lately for the past two and a half three weeks is We've been having blackjack hands that are 15s and 16s pretty terrible hands So because of that we don't bet. Yes, if you have a 15 or 16 You could still potentially beat the dealer and have a large p&l day But chances are that that's a losing strategy most of the time So stay calm stay patient last two days. I've not really traded nothing zero, you know and the reason why is because I keep getting these shitty blackjack hands and I worked hard for my money. I fucking suffered for my money I fucking grinded for seven years for my money. So why the hell am I gonna waste it on a setup that doesn't really make sense So my advice in the slow market guys is Don't trade walk away these days. I'm walking away 30 minutes earlier instead of walking away at 10 30 I'm walking away. I mean at 10 a.m. Right and that's because why am I going to stay that extra half hour when nothing's really happening You know, why am I going to waste my friday sitting in front of a computer when there's no setups? Um Instead of just walking away and enjoying my day. Why am I not preserving my mental capital For when my setups when my plays when those 20 blackjack hands come back to just load up on them, right? So a lot of people have a false sense of trading. They have no idea what they're doing They were gambling they were throwing darts and they got lucky Now that luck is gone The market has slowed down and all of a sudden these guys don't exist anymore, right? They don't exist So I mean the m ic process works. It's what's made me a millionaire It's what's made a bunch of other traders m ic six and seven figure traders So again guys, my advice is ignore what you're seeing online. Ignore all this shit on twitter ignore all this shit on instagram um and just focus on you know trading waiting And managing your risk, you know, there's a bunch of random stocks moving up and down There's a bunch of random shit happening and truth be told Maybe it's gonna work Maybe it's not but wouldn't you rather wait for a setup that you know is gonna pay you out Wouldn't you rather wait for a great first or end day setup? Wouldn't you rather wait for a great death line setup? So that's my advice guys my advice is i'm not trading that crazy Uh, probably april is going to be the slowest month for me in terms of p&l But you know my job as a trader right now is not to make money My job as a trader right now in this current market environment is not to bleed out my account and not to blow up my account So do you guys have any questions on that? Sorry i'm looking around. Let's see coinbase is going up We could talk about the coinbase ipo too very quickly. So coinbase ipo guys priced at $250 Opened that 380 it went all the way to 420 69 or some shit And here's the thing guys with that type of ipo There is a lot of hype around it and if something is priced at $250 And it goes to $400 the same day Chance are you shouldn't be fucking buying that stock right chance are you shouldn't be buying the stock that nearly doubled its ipo price right And usually what happens is they hype it up they pump it up They jam it up so the insiders that have been in from day one the golden sacks the morgan stanley All these insiders could dump it into idiots that believing the hype Okay, so don't ever believe the hype on these ipos the trend on ipos is they go straight up They go straight down they consolidate and then they pick a direction up or down So don't ever be that idiot that is chasing an ipo You better be that guy that has insider shares and is dumping on ipo day because remember until The stock ipos It's just rich on paper on paper. You're rich until you could sell the shares You're not rich So if I had insider shares of coinbase and I've been holding it for 10 years And I've been a billionaire on paper for 10 years you better believe I'm going to sell my ipo shares on day one So I could be a billionaire in real life Right So that's that So let's talk about dogecoin right so Dogecoin is like the meme coin of the internet. This shit does not make sense So the difference between dogecoin and bitcoin is bitcoin has a limited supply Dogecoin has an infinite amount which means there's an infinite amount of dogecoins that could be created Which means that it's not scarce Which means that there is not a limited quantity which means that it's not exclusive So anytime something is not exclusive or not limited Chances are it's not going to continue forever, right? So I know dogecoin is at like 40 cents today I know it was at like five cents last week or something ridiculous and I know a lot of People are making a bunch of money on it But what I could compare this dogecoin hype to guys is you guys remember two stocks amc and gamestop You guys remember how everyone said these stocks are going to go to a thousand or five thousand or ten thousand And what ended up happening is every single motherfucker if you owned a fucking Anything if you had any type of money in your pocket You put it into gamestop and you put it into amc because you guys thought that it was going to go to the moon And you guys thought it was going to go crazy and you guys thought all this shit Uh, and what ended up happening is the inverse happened So most of the time guys on these hype related stocks on these hype related trades on these hype related anything Chances are it's going to go like this And it's going to go straight back down. So my advice is at 40 cents 35 cents You should not be buying dogecoin Um, you should not be investing in dogecoin at these prices And if it goes to 50 cents or if it goes to a dollar Congrats, you guys are smarter than me, but I've seen this pattern happen so many times I have made a career on this pattern of hype And I know that it's going to do the same thing as gamestop and amc It's going to crash right and I got a lot of hate on twitter for it I got a lot of people telling me that i'm an idiot I got a lot of people telling me that my nose is too big and I should stick it somewhere else And I got no problem with that but at the end of the day, I am rich in the real world I'm not rich from a fucking dogecoin So you guys do your thing my advice as a professional trader is you should not be buying an asset That's up 10 000 percent in a month You should be if you want to buy it maybe wait for it to go down to 10 cents Maybe wait for it to go down to 15 cents, but if you're buying it here I mean, I think you're just chasing it. I think you got no idea what you're doing I think you're going to lose a bunch of money and I hope it's I hope i'm wrong I hope that you guys are right, but I mean after I've seen this pattern happen thousands of times What makes dogecoin different? There's no limited supply. All that's happening is elam musk is pumping it Maybe he's got billions of dollars worth of dogecoin I got no clue but until tesla starts accepting big dogecoin for teslas I don't think it's going to go anywhere. Right? That's just my opinion, right? So Do with it what you must is not financial advice. I'm half retarded. I'm not licensed. I got nothing But my professional advice unprofessional unlicensed advice is What the hell are you guys doing buying a fucking meme coin a dogecoin? What the hell is a dogecoin? Right? What can you spend it on? What could you use it on? Right? So that's just my advice You guys have any questions for me? Can you go through what a normal day was in april 2020 versus april 2021? April 2020 we had 10 or 15 hundred percent Gappers april 2021 the highest gappers 15 percent up How do you keep your hair despite trading? Shit man. That's a good question. Good genetics I have no idea. I like to let it grow. I'm middle eastern So I have hair fucking everywhere Tomorrow's fight I'm betting $10,000 on jake paul I bet 10,000 last time for him to beat nate robinson and I won So I'm just gonna keep going on that train in my opinion. Ben aspirin doesn't give a shit about the fight He doesn't care if he wins or loses whereas jake paul is motivated He wants to win and he can't afford to lose or else his boxing career is done So I'm about 10 grand on him and maybe that's gonna be my trade of the day The only reason why I'm betting on jake is because ben aspirin does not seem motivated He seems like it's gonna be a walk in the park. It seems like he's not training as hard But hey, that's what makes a fight, right? Maybe I'll do this guys if jake paul wins I'll take that winning that I make On that and I'll put it into dogecoin If ben aspirin wins, I'll short dogecoin and I'll see what happens Let's see That's funny guys, so what are you guys up to for the weekend? Um, basically just gonna be relaxing for me Probably gonna be reviewing charts probably gonna be hanging out and then next week. I'm going to mexico for vacation So bow into hawaii this week for vacation He went through the slowest time in the market and hopefully when I go to mexico It's gonna be slow as well and let's see what happens. So I think I'm gonna wrap it here guys I'm gonna keep it short and sweet because I know you guys like the shortest sweet videos So if you guys have any questions, let me know Um, and yeah, that's basically it. So I'll see you guys back in the room Um, yeah Thank you