 All right, what's up guys. It's Monday, YouTube live day as usual. So a couple things before we get started is the footage from the meetup is now currently being edited. We have photos, we have videos of the meetup. So when that's all ready in a few weeks, I'm gonna post it to everyone so they can see how much fun we had at the meetup and this is gonna be the start of more meetups to come guys. So if you are an MIC member and want to organize and plan and host your own MIC meetup in your local area, just let me know, send me a DM and MIC will sponsor the food and the drinks for the meetup guys. So just take some photos, have some fun and yeah, so that's the meetup stuff. Number two is if you are a brand new trader or brand new or not in MIC at all, we put together a free mentorship course at myinvestingclub.com slash webinar. This is basically a look into MIC, a look into our strategies. This is gonna show you a live trade for meat. It's gonna show you my $700,000 AMC trade. It's gonna show you how to scale into stocks. It's gonna show you everything, right? This is for non-members only, okay? Members have access to all the stuff they've seen, all the stuff. But this is our way of giving you a free taste into MIC and all the stuff that we have to offer. So you're gonna learn about our strategies, you're gonna learn about our sizing and then after you learn about all of our strategies and our sizing and all of our setups, you're gonna watch me use those setups to execute a live trade to make $18,000 on camera. So it's gonna be a free educational course, no strings attached. It's all available at myinvestingclub.com slash webinar. So now that's all out of the way. I wanna kinda talk about the market action before we get to today's topic which is technical analysis, okay? So where are we at today is February 7, 2022 and the market is crazy. Large cap stocks are going crazy. Amazon is up 15%, Facebook is down 30%. Overall markets are up and down 3%, 4% a day. Everything's going nuts, right? Bitcoin is up 10%, what? I don't know what the hell's going on but let's talk about the market action. So historically guys, historically last, I'm just gonna talk about last year so that we have something that's very concrete to compare to. Last year in January and February was when we got the historic short squeezes, GameStop and AMC, okay? These historic short squeezes were caused because everyone was staying at home. Everyone was getting a stimulus check. Everyone was gambling their money in the stock market, right? And what happened is this caused the entire stock market to go absolutely insane. January, February, we had GameStop, AMC, KOSS, BBBY, all this crazy shit going on. And I think what happened was all those people that bought those stocks last year in January and traded in February and in March and in April and May and this and that, in reality guys, it might sound a little harsh but I think they lost all their fucking money, okay? The stock market is designed to take money from inexperienced traders into experienced traders' pockets, right? So someone that's brand new to trading that doesn't know what the hell they're doing, they're buying shares at GameStop and then people like me eventually over the course of time, their money comes into my pocket because I'm more educated and I actually know what I'm doing. I'm not gambling, I'm trading the stock market as a business. So what happened was all these degenerate lottery ticket buying people with stimulus checks, all this stuff, they lost all their fucking money, okay? Let's be real, right? If you're holding AMC, you're holding GameStop, you're down 70, 80% of your money. If you're holding any of these stocks that were pumped by the Discord pumpers, you're down 80% of your money. If you're buying any of these stocks or holding any of these stocks from these screen share, voice alert people, you're down 80% of your money, okay? All the people that were buying lottery tickets, all the people that were gambling, I'm gonna buy this stock at $3 and I'm gonna mortgage my house and all it has to do is go to $5 and I'm gonna be rich, those stocks are now at 50 cents, okay? Perfect example is CEI and DATS. This was pumped by these Discord pumpers that made 10, 20, $30 million last year, right? And that really doesn't matter because they're probably gonna go to jail in the next three to five years. But anyway, point is guys, all these people, all the dumb money that caused all the crazy runners last year, they're all broke, they're out of the game. They're now, they quit their jobs to start stock trading and it ended up not working out, they lost their stimulus check and they probably lost a couple car payments and now they're going back and they're driving Uber, right? Okay, sure. The problem is in the stock market, guys, for us to make easy money, okay? We can make money every single day, but easy money, okay? Is made by the dumb, uneducated money, the gamblers, the people that want alerts, the people that don't want to work, the easy money is made by doing the opposite, the inverse of all the dumb money. The problem is in this current market, the dumb money went broke. They got no more fucking money to gamble with, right? There's no more, the casino is closed because they got no more fucking money, okay? What does that mean for a trader like myself? What does it mean for a professional trader? It really doesn't change anything, guys, because even before COVID, even before the euphoric markets that were happening, Bao and I were trading, making millions of dollars a year before that. Last year, it was a little bit easier to make money and as you could see, everyone that made big money last year, whether they're a chat room guy, whether they're a normal guy, whether they're my fucking grandma on the street, they're struggling in this market, right? They're struggling in this market because now all of those traders that made millions of dollars easy, easy, easy, tens of thousands of dollars easy, easy, easy, now cannot adjust to making a little bit of money, right? If you go from making a million dollars a month, how the fuck are you gonna be okay with making $10,000 a month? Or if you're going from making $10,000 a month, how the fuck are you gonna be okay with making $500 a month? If you're making $500 a month, how the hell are you gonna be okay with making $20 a month? Problem is mental, guys, it's in your brain. What ends up happening in the stock market is you feel like you're at a certain level, you're a certain income level, you're a certain whatever price, whatever it is, and you feel like the stock market is gonna guarantee you those profits every year. For me, I made $3 million last year after fees, after commissions, after everything, no pumping, no alerting, no nothing, straight, legit, clean training. Now, I'm not saying because I made $3 million last year that I'm gonna make $3 million this year. Hell, I might even make half a million dollars this year. I don't know, right? In trading, you don't know your income because trading is based on the opportunities that are there. So if there's 100 opportunities in 2021, then I'm gonna make fucking a bunch of money. But if there's 10 opportunities in 2022, I'm gonna make 90% less money. The problem is a lot of people cannot accept making less money. A lot of people, once they make a bunch of money, they feel like they are earned it and they deserve it. They go buy houses, they go buy cars, they go have fucking five girlfriends, they do whatever the hell it is because they feel like every single year you're gonna make fucking multi-million dollar or the same fucking shit. The truth is the traders that are doing well in this market are the traders that are reminding us are remaining humble, okay? So I don't care if I made $3 million last year. I didn't change my lifestyle. I didn't buy a fucking $10 million house. I didn't buy this, I didn't buy that. I am living well, well, well below my means, guys. If I'm making $3 million, I am acting and I am living like I'm making $200,000 a year. That way I am not worried if I'm taking a pay cut this year because there's less opportunities, right? This does not mean that I'm not gonna be able to make money. It does not mean that I can't trade. Today I made $4,000, which is a great amount of money. If I make $4,000 every day, I'm gonna make a million dollars a year. But the point is guys, my goal is not to be saying, all right, last year I made X and now I wanna make X plus two. My mindset has never, ever, ever been about the money. And I think that's why I've gotten to where I am is because since day one, since day one I knew what it was like to be broke. I had no money, right? I sold the rims on my car to be able to fund my day trading account. I was making $150 a week as Starbucks. So I knew what it came to not have money in my pocket. And because I've not had money in my pocket, I am okay taking the slower days because I know that if I just show up and stick to our process that has been proven, last year I made $3 million, the year before I made a million and a half, it's been proven just through MIC I have shown you that I've made almost $5 million in profits since launching MIC without alerts and without pumps. So my goal, guys, my goal is not to be making $100 million from trading. My goal is just to show up every day, trade and make money slowly. I trade not because I need the income, I'm already fucking rich. I trade because I'm passionate about it. From day one it has always been my passion, okay? It makes me happy to trade, okay? Yes, the highs are never as high as the lows are low. Some days I say fuck trading. Some days I say screw this shit. Some days I say I'm never fucking trading again. And then other days I'm sitting back fucking chilling out, drinking a beer and saying I love trading. I love it, I love it. The problem is in trading, guys. In trading it is a mental battle every single day. And the reason why I say it's a mental battle every single day, because your income is a direct correlation of how much effort you put in and how much time you put in to learn this shit, right? Some guy off the street that buys AMC because he saw a TikTok is not gonna make as much money as me that has been in the industry that's learning and watching every single day. So the point I want to remind you guys, it's okay that the market is slow, okay? It's okay that you're making less money. It's okay that I'm making less money. But what you have to remember is that your income as a stock trader is based on the opportunity. If I have 100 first red days in a year, I'm probably gonna make more money than a year that has 10 first red days, okay? So keep that in mind. Right now, by this time last year, there was already 20 opportunities. Now, this year, there's maybe even one opportunity, okay? So that's where you have to keep in mind. So don't be discouraged. Don't be upset. Don't think that your system is broken. Don't think that you need a new strategy. Don't think that you need to change up your whole fucking shebang. You have to remember that it's a game of opportunity. And right now, there's not much opportunity. I hope the Federal Reserve prints some more money. I hope that they print money because the way it works is always the same. They try to give money to the poor people. The poor people either gamble it in the stock market or go to the Gucci store and it ends up going right back to the top anyway, guys. That's just how it fucking works. You know, if you think any differently, that you don't understand the system. The system is designed to keep the poor people poor and the rich people rich. They give money to the poor people knowing that they're gonna give it right back to the motherfucking rich people either at the Gucci store or trading it in the stock market, okay? So keep that in mind, guys. A lot of the traders that are struggling right now, whether you see on Twitter or on Instagram or whatever, you'll notice that they're struggling because they're not able to mentally take the pay cut in their head. If you used to make $10,000 a day, you're not gonna be okay making $1,000 a day. You're gonna push, you're gonna force, you're gonna keep going until you lose all your fucking money. So reminder, in this market, I'm not looking to oversize. As you've seen for the last month and a half, I've been extremely, extremely risk off. I've been risk off because I know there's a runner coming. I don't know when it's gonna come. I don't know how it's gonna come. Maybe it's gonna be fucking DWC. I don't know what the answer is gonna be, but until that runner shows its face, I am very silently sitting on the sidelines and just fucking waiting, okay? So do you guys understand that concept of where we're at in the market now? I don't know what's gonna happen in the next couple of months. Hopefully, hopefully, there's some more money coming into the stock market. Hopefully there's more dumb money coming in. Hopefully these pumpers start making money because these pumpers, guys, they were only making money because the market is easy. Now in these slower markets, it's impossible for them to make money. They only make money when they're fucking sheep, their followers follow their plays. Their fucking followers are broke motherfuckers, okay? They're broke motherfuckers right now because they lost over months and months and months and months and months of chasing these dumb ass motherfucking plays, okay? Look at CEI, down 90%. Look at DATS, down 90%. Look at Clove, down 90%. Look at fucking Wish, down 90%. Look at fucking AMC, down 90%. Look at GameStop, down 90%. This is, if you had 100 grand in your account, you have fucking $10,000 right now, okay? So these scammers, these scammers not only are all their fucking members broke now, but hey, now they're gonna slowly get broke. So that's the topic on market action. So do you have any questions on that before I continue the technical analysis? So now people are saying there's a runner on the day. Let me see. CFVI is a runner on the day, but let me keep doing this thing. Does anyone have a question on that? Okay, next topic, technical analysis. Okay, so I've been getting a lot of questions about technical analysis and charting and everything. And I feel like it's been very long overdue that I talk about this because we've talked about this when we first started MIC, but three years has passed, so it's been kind of, sometimes we have to regurgitate this information for you guys to understand. So number one thing that you guys need to offer, you guys need to remember is this. Stocks move based on the chart, okay? So if I could keep it extreme, love is as simple for you guys and extremely brief is if you are starting stock trading, you should learn how to read a chart, okay? Technical analysis is the key to stock trading, okay? Yes, the level two matters, but not until the chart. The chart is ultimately number one because stock price action is a determination of where it is on the chart. So for example, if a chart has no previous resistance, it's gonna have a higher probability of running. If a chart has a bunch of bag holders, chances are it's not gonna really run. So what I have to remind people, or what I kind of reminded myself is the reason why Bao and I are such good traders on top of all the other process stuff is we know how to read a chart, okay? We know how to read a chart because we've been trading, Bao's been trading for 20 years, I've been trading for eight years. We've had enough time in front of the screens that we're able to read a chart and something that I think that a lot of beginner traders are failing to recognize is how to read a chart, man. So you don't have to know the basics like support and resistance. You guys gotta know maybe candlesticks or line charts and what I want to do today is I want to kind of show you where you could kind of find some of this information in the MIC Video Library. So if you come over here to the video library, I have the MIC Jumpstart Accelerator. And all you have to do on the MIC Jumpstart Accelerator is click this button that says technical analysis. And then it's gonna take you to everything that we have on technical analysis right here. It's gonna teach you how to read a chart. It's gonna teach you everything. Let's say after you finish that, you want to come here and watch a lesson from Bao. Bao has a lesson on technical analysis and charting. Just type in charting into the video library search bar. And let's say after that, you still have questions about charting. Come into here and watch the training basics on charting. So if you're a new member or you're a new trader or you want to get started and all that stuff, you have to remember that you have to understand how to read a chart before you can make money trading, right? Before you can make money trading, you must know how to read a chart, guys. It is so simple that I think I even forgot to talk about it. So I kind of want to come on here today and remind you guys the importance of technical analysis. As a beginning trader, if you don't know what you're doing, okay? If you don't know what you're doing, you're brand new to trading, what you should learn very, very quickly is what is support, what is resistance. I was talking to one of our moderators on Friday and he mentioned it because the way it works, guys, if you are an MIC moderator, not many people, there's not many people you could ask for help. So what I like to do is whenever a moderator needs help, whenever a moderator needs support, I like to be their support guy. They could directly call me, they could directly be mentored by me. And one of our moderators on Friday had a question and he was basically explaining to him that during these slow market actions, he finds himself chasing more. He finds himself maybe overtrading more, right? And what I want him to understand is trading could be very simple, okay? Trading could be very, very simple because if you wanna give, and this is gonna be, it's gonna sound so easy, it's gonna sound so simple, but let me just tell you to you so that you could understand and then maybe they'll have something click in your head. What I told him is one of the best traders that I've ever seen trading, I'm not gonna reveal who it is, but last year he made $20 million trading. One of the things that I've learned from him is if you wanna keep trading as simple as possible, you only short at resistance and you cover at support. You never short at support and cover at resistance. Now for long buys. You always buy at support, you always sell at resistance. You never buy at resistance and you never sell at support. If you just keep at extremely levels of simple from there and you're only allowed to short resistance, right? And you're only allowed to buy weakness, 90% of your trades are gonna work out because your entries are gonna be good. And now how can I reinforce this? If you look at every single one of Bao's charts, every single one, he always shorts at resistance. He never shorts at support. Bao would rather cry and complain and say, please bounce, Shiba Buddha, God please bounce the stock so that I could short it because I'm now shorting at support, okay? So if you wanna keep trading as simple as possible, number one, learn technical analysis. Learn support and fucking resistance. Support and resistance, okay? And then keep a rule in your head. You're only allowed to short resistance. You're only allowed to cover support, right? Unless you're stopping out, okay? And if you do that, that'll prevent you from ever shorting support. Because if you short support, you're gonna end up covering it to resistance because the stock is gonna bounce. And pay attention to Bao's charts. Bao is never, ever, ever, ever, ever shorted at support and that's why his entries are so fucking good, okay? So that's another lesson on technical analysis, guys, to keep it very extreme levels of simple. If you have the proper entries in the stock market, you will win. The way to have a proper entry is to not short support, to not buy resistance, do not buy the breakout. Let the stock break out, come and test support and that's where you buy. Do not short support. Your fucking 200-share bid is not gonna break the support. Always short of resistance. And to reinforce this, not only did that $20 million trader do this, but Bao does it every single day. Bao only short resistance. Bao does not short support. He would rather cry than to short support because he knows if he short support, then he's gonna be fucking covering the highs, okay? So does that make sense, guys, does that make sense? So keep it simple, okay? Learn technical analysis, we have videos on it. Go to the accelerator, watch it. Go to the videos I just showed you to watch it. If you're not an MIC, go to our free YouTube channel and watch the free videos on the YouTube channel and keep it simple. Short at resistance, cover at support. Do not, do not, do not, short at support. Do not short at support because if you short at support, you're gonna be covering at resistance when the stock fucking bounces, okay? It's very simple if you will let it be, okay? So hopefully that helps. Technical analysis is not a fucking hoax. It's you fucking dumb fuck. That's why you're broke, oh my God, bro. Oh my God, that's the problem with the internet, bro. The problem with the internet, usually you have some fucking broke motherfucker complaining that technical analysis doesn't work. Technical analysis worked 20 years before your grandma got fucked and had you, bro. It doesn't fucking, oh my God. And that's why, guys, that's why the dumb money lost all their money. That is why I made $3 million because some fucking dumb ass that thinks technical analysis doesn't work. You know what? You're right. You are right. You know what? You're right. Technical analysis doesn't fucking work. The only reason why I'm making $3 million years is I'm rolling the dice and I'm blowing the dice better than anyone else. So you know what? If you don't think technical analysis works, then you know what? I'm a fucking multi-millionaire dumb ass and you're still fucking driving door-dash, bros. Oh my God. It's the stupidity never ceases to amaze me. Thank God for stupidity because oh my God, I'm gonna be making way more money this year if that guy's trading. So hopefully you, whoever the fuck you are, I hope you have a trust fund. I hope you go all in. I hope you start buying fucking AMC. I hope you start buying GameStop and please for the love of God, just maybe go back to the chat room alerts guys because they know what the hell they're talking about with their pumps because over here we're just a bunch of fucking broke ass terrorists looking idiot motherfuckers, okay? So have a good day guys. I'll see you back.