 What's up everyone so today's a little bit of a different video usually I do my videos every Monday today is Sunday But we are still under quarantine here because of the coronavirus. I Am so bored, so I decided to be productive And just make a video for you guys so I Assume that the people that are watching this video on a Sunday or are participating on a Sunday Are the most dedicated people are the people that actually want to be successful Are the people that are actually going to put in the work to be successful? so I want to kind of open it up to you guys and Take your questions for this entire video and then answer them and then just that's it Just kind of keeping it simple so Everyone in here If you can see me and hear me alright. It's good type in your question into this Comment bar here, and I'll go by one by one answering them until my walk is over and one just came in If you have a loss in the beginning 10 minutes of the trading day, do you still continue to trade? Yes, so Here's the thing the problem is that when your first trade out of the gate is a losing trade You're meant to be screwed up, especially if you are a new trader. So because of that It is very very important to make sure that your first trade that you lose on is a small loss Because if your first trade that you lose on is a massive loss It's going to make you a revenge trade for the rest of the day. It's going to make you trade based on promo so what I say is Be sure to keep your first trading loss of the day small. That's through risk management That's through hard stops because after that what what the formula for success is to just forget that you made that trade and Just trade as if that didn't happen So now wait again for the lines to confirm wait again for the stock to get to your place and then trade it Because if you are thinking in the back of your head that I have to trade to make back this loss You're gonna get in too early. You're gonna get into emotional So keep the loss small pretend like it didn't happen and trade as if You were just trading like that stock never moved, right? Like you never lost on that That's what I do for me anytime bow has a loss early in the morning. I tell them the same thing I'm like look bro. Just pretend it didn't happen if you stick to your process You're gonna make it back plus more if you focus on trying to make it back. You're not gonna make it back Let me get to some of these questions I'm currently a junior in high school. Does college help with training training? Absolutely not. You're gonna be paying $40,000 a year to Learn how to use a calculator when you could pay $200 a month and learn how to make more than a doctor or a lawyer So I would suggest going to mic university Do I usually trade large caps too? I only trade large caps when there is a opportunity Tesla was a golden a plus opportunity. So I traded that Fordham is killing me. I've watched everything on youtube from day trading to how nails are made. Yeah, that's why I'm trying to be productive during this quarantine guys We are literally there's never going to be another opportunity like this ever again Where we are forced to stay home where we are forced to not leave the house So yeah, you could watch tv you could drink you could smoke some weed But the reality is is that that's gonna get boring So why not try to be productive like I am now and making a video So that you know, you could take advantage of this. How you guys doing? Let me get some more questions What is something you do on the weekend to prepare your trading for the week on Sundays? I don't drink on Sundays. I don't party on Sundays I sleep early because I talk about in every video on monday your process for monday always starts on sunday So I want to make sure i'm sober. I want to make sure I get a good amount of sleep I want to make sure that I eat. I want to make sure that I'm just in top mental condition My physical condition is shit, but my mental condition is sharp Um Do you have live streams during the week as the market opens? No, I don't pump or dump any of my shit like everyone else Will you ever go back to trading post 10 30 am? Usually if I do Uh, I'm breaking a rule Or if the opportunity is so massive and the stock has dumped so hard past 10 30 Then maybe I'll stay for an extra couple hours, but most of the time when I stay past 10 30. I lose money How did it take you to level up from the 50 days? All right, let's talk about this so the way to Make big amounts of money in trading is to start small guys so when I was still trading at SMB capital, I was mentoring one of these guys and I basically told them that your goal every day Is to show up make ten cents on a thousand shares make a hundred dollars and walk away Because in trading if you cannot consistently make a hundred dollars a day Or consistently make ten dollars a day, right? So start up making ten dollars a day and then start making fifty dollars a day Let's start on making a hundred dollars a day if you cannot consistently make 50 or a hundred dollars a day Then you are not going to be able to level up to the point of making 500 to a thousand dollars a day The point of using small size and building consistency is not so that you could get rich making 50 dollars a day Sure, it's a great amount of money But it's not going to make you rich the way to get rich is to consistently make $50 a day to refine your process so well that all you do is consistently make money And then after you consistently make that $50 a day It's just a matter of sizing up from there and then making 750 dollars a day Then making a thousand dollars a day So my advice would be to continue focusing on making those 50 to a hundred dollar days For two to three months consistently Consistently make that money right every day show up make 50 dollars and walk away 50 dollars and walk away 50 dollars and walk away Sure, it's not going to feel like a lot But by doing that for three months The next fucking nine months you're going to be making a shitload of money and that's not the way people think They're like, oh my god, I got to do this for fucking three months. That sucks I just want to be fucking rich already. The truth of the matter is that's the best thing that you could do You have to be able to consistently make a hundred dollars a day And then you will be able to level up from there because at that point you're just repeating the same process again Just a more size Um, sorry, there's a lot of questions. I'm trying to scroll back What's your advice on putting a stop loss that doesn't get stopped out? That means that you're using a limit stop and you should only be using a market stop Process will make it back. No process. You will exactly Do you trade pre-market? Yes, I do trade pre-market and when I do it's because I have fobo But I've created rules around this to say that I am only allowed to use one tenth of my size pre-market A couple weeks ago bowing was a first red day setup and it was red pre-market and started tanking pre-market My goal was to use a thousand or two thousand shares on that stock But because it was pre-market, I only used a hundred shares and I made a fraction of the money But I know that that Process is going to pay me dividends on future plays How do I scale and enter first red days? I have so many webinars on this, especially the trader clinic ones And again guys, uh, if you have any questions about trading or the stock market Or you want to know how to navigate around this kind of bear market We do something that's very unique, which is where you could text us directly It's not going to be a robot that answers not going to be an alga that answers One of our head mentors tosh is going to answer and help you out So if you have any questions text them at two one three four five eight five nine nine seven When you have five or six stocks on your watch, how do you narrow it down to the top three? So the way that I narrow it down is I've seen so many charts these days I look at so many charts that like I know which ones are going to be the ones that take my attention Usually the charts that have on the daily chart the first day it goes up and wicks right back and comes back down Those are my bread and butter types to play. So whenever I see those I love it But the reality is is you could have a hundred stocks on your watch list, right? But the point is that you have to make a plan for each and every one of them So what a lot of people do is this a lot of people I put maybe usually three to five stocks on my watch list every single day And what a lot of people do is they narrow it down to the top one or two that they want to trade And then on the rest they set fantasy orders So my recommendation or my suggestion would be to make a plan for every single stock Set your fantasy orders on these stocks and then sometimes when you're trading something on the left Boom, it fills on the right and then you get a top tick So it's like you're going fishing guys You're putting your bait out and waiting for a fish to nibble on it If it nibbles on it, you're going to pick it up and get it if it doesn't so be it at least you try it After you draw your lines, what is the main timeframe? I use I personally look at the daily chart and then I look at the one minute chart And then I have the five minute chart up as well Can you suggest proper risk management approach guys? We talk about this all the time all you have to do is Watch one video hard stops are necessary Broker limited max size is necessary Broker limited max loss is necessary Sizing rule 30 above VWAP is necessary guys We teach all of these things in MIC if you are asking it during this live stream, it means you watch zero videos We talk about the same process every single day guys every single day It's the same fucking process every day actually today bear who's one of our moderators Created a flow chart of our MIC process So this is going to be only for MIC members he posted in after hours So this is a flow chart that basically says all right stock is gapping up what to do next what to do next what to do next I get it. I get it. People don't want to watch all this stuff. I get it Let me get some more of these questions What's the number one reason why most traders fail? Personally, there's a lot of reasons why traders fail The number one reason is lack of education A lot of people they take the cheap route And they spend on education as minimally as possible because they think that they are the experts, right? But the truth of the matter is that The best traders are the most disciplined traders and realize that they're not always right They realize that maybe someone knows better In trading in trading sometimes it takes a month to get this Sometimes it takes a year to get this Sometimes like Nico it takes seven years to get this sometimes you'll never get it But most people have too big of an ego to say that they need help and they want to learn The mistakes that me and bow have made it's actually funny. So I really want to talk about this. So yesterday James in MIC posted his biggest losses on the year and I'm looking at it minus 800 Minus a thousand minus 500 and I'm thinking to myself, bro This guy has no idea how lucky he is that his mistakes are costing 800 to a thousand dollars Before MIC that one I had to lose tens of thousands of dollars hundreds of thousands of dollars To learn these rules because we had no one teaching us the zombie rule easily Would have been if I knew about the zombie rule five years ago I would at least had another couple hundred thousand dollars in my bank account Fowler probably had a fucking million dollars in his bank account. The point is is that we've made all these mistakes for you guys, right? We've made every single mistake in the book and we've created a process to avoid those mistakes, right? So the fact that you guys are learning and your educational mistake errors are only costing you 800 $800 when it costs us 80 thousand dollars to learn these same lessons Is the point of getting educated guys We have made all the mistakes for you so that you guys don't have to figure it out yourselves Oh also happy Easter guys happy Easter. Wow. That's actually crazy because Every single year on Easter I go to church with my family And this is actually the first year that we haven't done it because everyone's on quarantine So this is a weird feeling man. This is a really weird feeling. Usually I'm in a suit and a tie in church I'm in fucking pajamas and Flip flops you can see it Uh getting a couple more questions guys. Let me What do you do to stay mentally sharp? All right, so great question guys So if I'm completely honest with you guys I am the type of person that really really has understood the fact that hard work is the key to everything man So I could do whatever I want, right? Thank god. I am blessed I could get drunk on monday tuesday wednesday thursday friday And not show up to work for too much straight and still have enough money to live whatever type of life I have But what I've realized right what I've realized is that This is such an amazing opportunity in the stock market right now guys Everyone always says that recessions and crashes build millionaires Um, so I'm the type of person that doesn't like to leave opportunity on the table I feel very blessed to be where I am So I don't want to ruin that by just being a lazy drunk pot smoking alcoholic or whatever it is, right? So what I do to stay mentally sharp is I don't drink on weekdays. I don't party on weekdays I don't really like to hang out with girls on weekdays weekdays are my time to fucking grind I sleep at 9 p.m. Every single day. My friends always make fun of me for it. They say I'm fucking boring they say I'm a fucking square and then The reality is I wake up I eat if I should really be exercising, but I don't but the truth that matters I just make sure I get a good amount of sleep I make sure that I stay sober and I make sure that even Every time I do my routine. It's the same thing over again as soon as I wake up I walk over to my computer I turn it on I go to the bathroom as soon as I get out of the bathroom I make my espresso. I walk to my computer by that time my computer is up and running I get to answering questions and keep doing the same thing over and over and over again, so It's actually a blessing because Shit has been boring man. I'm fucking bored. This is so fucking boring to do all this shit But the reality is I'd rather be bored and rich right then have all this excitement and be fucking stressed so I mean look guys If you want to be mentally sharp if you want to be disciplined in trading you must be disciplined in the real world Right even on a sunday. I'm waking up at 8 a.m Even on a sunday. I am answering questions even on a sunday when I'm in my fucking flip-flops I'm fucking making live videos, right? It's because I understand that if I keep being disciplined and keep doing the thing over and over and over and over again It's just going to keep paying out guys The amount of success that I have is directly correlated to the hard work that I put in And that's what you guys have to understand too. Yes, there are 700 videos to watch But would you rather watch those videos for a couple months and then be bored and rich? Or would you rather watch videos for a week? Lose a bunch of money because you think you are an expert someone who's traded for two days, right? Or do you want to be humble enough to realize like fey? That if you just stick to the m-i-c process you will be rewarded She started by using a hundred shares like everyone else Now she's using three to five thousand shares and kicking ass every single day guys So ask yourself are you serious about trading? Do you think that you could actually do this? Remember you are trading against someone like me someone like bow someone like fey someone like james If you do not think that you will be able to outwork us don't even try it Don't even try it The truth of the matter is trading is You have the ability to make a shitload of money trading But are you disciplined enough to walk away at 10 30? Are you disciplined enough to not trade large caps or options? Are you disciplined enough to use a 30 percent rule? Are you disciplined enough to do all this shit, right? If the answer is no Then trading probably isn't for you guys. That's just the truth. It's not easy. You're not going to get rich in one month Anyone that's selling you a foolproof system that's going to make you rich in one month is a scammer Understand that it is years of hard work, but let me tell you this My friend dan is a doctor. He's officially a doctor. He's going to go into uh What is it called like bone surgery? I don't know. It's called ortho or some shit. So I'm really high-end crazy bone surgery type shit He's gone to school for 10 years guys 10 years. He's gone to school right Even 10 years. He's going to school. He's still not able to pay off the med school debts So if I'm telling you that if you spend a couple months or even a year educating yourself, right? And then spend another year trading properly, right in just two years You will have the ability to make more than a doctor who's been studying for 10 years Right 10 years. They've been studying, right? So ask yourself, are you willing to sacrifice a few years of your life to live the next lifetime for free? Most people do not think that way, right? I'd rather be working my ass off for the next 10 years so that I could live the next 50 The way that I want it Right That's what people have to understand understand that the earlier that you put in the work the earlier you will find success Does that make sense guys A lot of people they start trading for a month They don't figure it out after a month and they say oh, I got a scam this sucks. Hello. How are you? um A lot of people try for a month And they say it's not for them. Let me ask you something, right? Let me ask you something What have you ever done that's brand new in your life that you have mastered in one month, right? It takes practice It takes The ability for you to realize that shit. I got to actually wake up and watch these videos. I can't sleep in I can't fucking uh, I can't go out this weekend, right? Ask yourself are you when you go out on a friday? How much are you spending on a beer? How much are you paying to go get drunk and meet girls, right? Maybe a couple hundred bucks maybe Or you could sit your ass down Save that fucking hundred bucks Watch the videos and then make another fucking hundred bucks on monday Now do that for a fucking week And pretty soon you could buy a table at a club Right, it's the same thing guys same thing Does all make sense guys The reason why I make these videos the reason why I wake up early the reason why I do all the shit Is because I truly truly truly love what I do man. I really do When I was growing up everyone always told me that the only way to be successful Is to do something you love and I always told myself I have no idea what I love. I have no fucking clue Uh, I don't know what it's gonna feel like when I find something that I love it or what it's like But I don't love anything. I fucking suck at everything, right? I never came in first place for anything I was always shy. I was always quiet Uh I was never really good at anything. I was not athletic. I was nothing, right? So as a kid everyone always tells you to find something that you love Well, I was not good at sports I was not good at fucking school. I was not good at fucking anything So here I am thinking to myself How will I ever be successful if I fucking suck at everything man And then believe it or not for some reason trading or the stock market made me interested It made me curious It made me start to question things in the world, right? It made me say hey, man If I have a hundred dollars and I invested into amazon facebook in 10 years that hundred dollars is going to turn into 110 dollars or whatever Right if it goes up 10 percent, it's going to make x amount of money So I'm saying to myself, wow, that's cool with money. I can make more money And if I even pick the right company shit, maybe I'll make even more money So that's how it started, right? That's how it started just those small ideas And then I was like, wow, that's kind of cool. And then you watch the wall street movies. Wow. These guys are fucking rich. They got Uh, they got fucking uh lambos. They got watches. They got bitches. They got bottles. They got all this shit So now it becomes even more interesting, right? Now I have something that I'm interested in that I know is going that a lot of people make a lot of money in And now it comes to the point of all right How much work do I want to put in to learn this shit, right? Because when I started trading, right? MIC didn't exist the only way that you learn how to trade is from twitter And so fucking whatever bullshit you see on the internet, right? The online guru bullshit So when I started to find consistency as a trader when I started to make a hundred dollars a day and it felt boring That's when it started to get interesting and then a thousand dollars days became boring and then the 10 thousand dollars They days became boring. So what I realized is that I'm actually good at something now, right? I fucking suck this sports. I suck this school, but I'm good at trading Go figure, right? Go figure So now because I feel like this is something I am passionate about as something I'm actually good at Why not put in even more work to become even better and make even more money, right? So that's the way that my brain thinks, right? My brain says all right. I'm good at something. Let's fucking get better at it. I'm not good at basketball I'm not good at football. So why waste my time on that? Right, I'm never going to be in the NBA. I'm never going to be in the nfl So what I'm probably never going to own a hedge fund So I don't need to own a hedge fund I'd rather be a day trader making fucking four or five g's a day still making a million dollars working one hour a day Being happy being less stressed enjoying my life So priorities guys find what makes you happy And if trading if you don't love trading Then maybe it's not for you But if you want to be successful at something right no matter what it is You have to actually like it because There's going to be so many days guys that you get kicked in the ass And most people if they don't love it, they're going to quit I think bow gave a really good analogy on this the other day and he said Imagine you are in a relationship with someone that you love, right? There's going to be days that you want to rip their heads off But if you don't love them, you'll just walk away if you love them You will be there and try to figure out a way to work Compromise whatever the hell it is same thing with trading if you do not love it, you're going to quit after one month Or if you do love it, you're going to be like Nico who lost money for seven years And now is running a fucking Prop firm seven points capital So decide what type of person you want to be guys, right? I know what person what type of person that I want to be My actions are showing the type of person that I want to be If you want to be successful If you want to be rich if you want to give your family the life that they always want or whatever your motivation is Ask yourself. Are you doing everything in your power? To put in the work to get there or are you painting a fairy tale in your head just to make sure that you sleep at night? I know what i'm doing Ask yourself what you're doing So i want to say a forex. Don't make me. Don't make me do it Don't stop making sense to you guys Guys remember we are on lockdown, right? You are forced to stay home, right? You are forced to stay home When else in united states history? Or are you gonna be forced to stay home again, right? When this quarantine ends You're not going to be fucking home ever again. The government's not going to force you to be home ever again So you have options guys. I already watched tiger king. I already watched ozark. I already watched money heist, right? I already watched all this and there's still another three weeks of quarantine That's what i'm trying to be productive guys. That's what i'm trying to be productive Think about it imagine you had another month you had a month where you could sit at home Not go to work and learn how to trade Right, even that one month that you learned maybe you start making ten dollars a day And remember that is the baby steps to making a hundred thousand ten thousand a day, right? I get it guys. I love sitting down and doing nothing too But you know what? I love more than sitting down doing nothing sitting down doing nothing nothing in fucking miami And not worrying about it, right? There's always something better But do you want to put in the work to get there? I don't give a shit. I'll do it Any more questions guys Think about it. It's not even noon here, right? Not even noon. So I have another nine hours till I go to sleep So what am I going to do? Answer questions Work on some videos Think about some ideas be productive, right? E productive You will never have another opportunity like this ever again And you know what the best part is on top of all this the market has never been hotter, man Everyone says bear markets suck all this shit sucks. I don't know what type of market you're trading cause But it's been fucking money every single day knock on fucking wood See I learned guys I learned So that's the thing guys someone asking what am I doing to improve? Well, even six years trading even making four thousand dollars a day five thousand dollars a day Just keep refining guys. Keep getting better. Keep getting better. I watch more and more of my footage of my trading, right? As traders, we are professional athletes, right? We are professional mental athletes, right? Physically physical shape. I'm shot the hell, right? I eat pizza and burgers and milkshakes and ice cream every single day My physical thing is shot, but my mental sharpness. I am doing things in my routine to stay mentally sharp guys All right guys, I think that's it. So I'm going to wrap it up Um, oh, yeah bow had a really good idea bow had a really really good idea about something to do for these live videos So what we're going to do at these end of these live videos is I'm going to ask you like a quiz show type of question Uh, and the first person to text tosh with this answer We're going to give them a special discount to m-i-c to join so I'm thinking of this So for the first person That is not in m-i-c To text tosh at two one three four five eight five nine nine seven And answer and reply with four of our m-i-c strategies. He'll give you a special discount So this could be anything that we teach this is just a way for you guys to stay aware And maybe you'll be able to retain some of these information So you can kind of come back and be rewarded for it So All right bow says the first two people so for the first two people that text tosh with four of our m-i-c strategies You'll get a special discount to m-i-c So That's it guys. So appreciate you guys showing up even on a sunday great amount of viewership even on a sunday Thank you guys You guys are the ones here that are actually going to be successful if you are watching this video on a sunday So consider yourself Ahead of the curve right so great job today guys. Thank you for showing up And i'm probably going to do another one of these videos on monday to stick to my process and stick to my routine Because I don't want to deviate So thanks guys. Have a good day