 So today is Monday. For those of you that don't know, I do a YouTube live recap every Monday and I do a free watch list on YouTube every Monday. So if you haven't seen today's free watch list, check it out. It's the video before this. Today's topic is gonna be really, really important, but before I get started, I kind of want to mention a couple of things. Today is the last day of our sale. We have a sale kind of going on. To access it, you could text Tosh, his number is 213-458-5997. A lot of people have been trying to get into trading. A lot of people want to learn how to trade during this quarantine. The market has been hotter than ever. There's so much opportunity every single day. And while you are stuck at home, while you are quarantined, now is the perfect time to kind of learn how to trade so that when this quarantine ends, you know exactly how to attack. So if you have any questions, text Tosh at 213-458-5997. So today's topic is gonna be about losing days, guys. How to manage them, what happens when you are stuck upside down on a trade and what to do to kind of help yourself mentally. So what I want to talk about before I start is mindset and process, right? So I want to walk you guys through my process every single time I do these videos so that you guys see what it's like to be inside my head. You guys see what it's like to trade the way that I trade. And for me personally, what you guys have to see is how I am mentally kind of trying to stay sharp so that you guys understand what's kind of going on in this market. So, backtrack. If you are watching this video at a future date, if you are watching this video after a year or two or six months after it's posted, just know that right now the coronavirus has taken over the world. Almost the entire country has been quarantined. Everyone is kind of bugging out, everyone's losing their mind. So for me, what I like to do is I like to remind myself during these times that it is very important to control your emotions and control your FOMO. So let me kind of give you guys an example, right? Let me give you guys an example. So oftentimes Mondays are my worst performing days in the stock market. The reason why Mondays are the worst performing days for me are because over the weekend, all I think about is trading. Over the weekend, all I want to do is get back to the market and get back to work and start making some money and everything, right? So during this quarantine, for those that don't know, people in America are stuck at home. The only way you could leave like your home is if you're going to the grocery store or if you're going to like the pharmacy and stuff like that. So a lot of people in America are stuck at home. So we're all going crazy, right? Everyone's playing Monopoly. Everyone is playing board games. Everyone is stuck at home, trapped in prison, right? Everyone is trapped in prison. So because of that, we are more over eager than we're to trade. We are more eager to get into our trades. We have so much FOMO because we're so bored over the weekend, man. A lot of people, all they're doing is sitting home and drinking. Everyone is bored at home, not doing anything, right? People are eating. So when Monday comes along, when Monday comes along, people don't know or people are more, they're more jumpy, right? They're more jumpy. So for example, today I recognize that not only Mondays are my worst performing days, but Mondays are, well, I was kind of bored over the weekend. So I wanted to kind of get back to work and get my shit together and stuff like that. So I was more self-aware today. I told myself it's Monday. I want to take it slow. I want to just relax. And if my trades don't set up, I don't want to kind of get there. So today I saw a couple of stocks that I was interested in. So let's talk about it. SPCB was one of them. PSTV was another. And AIM was one that kind of popped up later in the day. So let's kind of talk about each of these examples and we'll kind of go into what happened and how to manage kind of a losing day and stuff like that. So SPCB was a 90 cent death line. So if you look around the chart at 90 cents, you see that there's a death line there. So for me, what I did is I identified the death line and I shorted some ahead of the death line, right? I shorted some ahead of the death line. That was kind of me getting anticipating. That was my FOMO kicking in. That was me over the weekend being bored and wanting to get in. So I found myself shorting some at like 95 cents and the death line was 90, right? So what happened was it did its thing and the high of the day or the pre-market high of the day was $1.30. So my plan was either A, keep my starter in the 90 cent level, add to my winner if the death line breaks or stop out if pre-market highs break, right? So what ended up happening is I took 2,000... You guys see me? Testing, testing. Someone tell me this shit works or not. Oh my God, dude. At this point, the trolls are fucking hacking my internet too, man, shit. God damn. All right, let's kind of, I guess... Sorry about that, guys. All right, I lost my train of thought but I think I was talking about getting into the trade. So let me, I guess, wait a minute and then I'll get back into it. Sorry, guys. All right, so SPCB, I had 2,000 shares towards 95 cents and my plan was to either add on the death line break or cover if pre-market highs broke. So I gave myself a max loss on that trade of about $400. So I told myself I am willing to risk $400 on this trade but if the death line works, I'm willing to risk more, right? So as the stock continued to push up slowly, I had a hard stop in in the 120s. So as soon as the stock ramped up towards pre-market highs, I already had a plan of what I was gonna do if things went wrong, right? So I covered out at 120s and everything kind of worked out on that one. So in the moment, I was pissed that I covered out but when I had a sober mind, when I was not in the trade, I already had the plan of what I was gonna do on the trade in case things went wrong. So SPCB, I walked away with a $400 loss. I walked away following my plan and that was it. Let's talk about AIM. AIM was the stock that was popping up midday. So AIM was, so there's different types of stocks, right? There's stocks that are gapping up pre-market that you can make a plan for pre-market and there's stocks that run up as soon as the market opens and you have to make a plan in less than a fucking few minutes so that you know what to do. So for me, what ended up happening was on AIM I saw a pop up, I looked at the daily chart, I saw that there was a 280 resistance line on the daily chart and in the morning I found myself a little bit too trigger happy. So once again, once again, even though I told myself to take it slow and to be patient, I found myself getting too trigger happy and getting in too big too quickly. So I saw that there was a 280 line on the stock and I got in at 265, 275, 285 and 295, right? I ended up having like a 275 average and I posted my chart for the guys in the room and what I told them is this, I told them that I got too trigger happy, I told them I got in way too big, way too quickly. So whenever that happens, I cut down half of my position no matter what at break even. The reason why I cut myself or cut half of the position at break even no matter what is so that I can get back my mentality so I can get my confidence back because when you are oversize and you are losing on a position, the first thing to do is always size down to get your sanity back. So for me, I've been in that same position so many times where it's kind of gotten back to my average and I said, all right, I'll just let it go and I'll let it take more and I'll make my money, et cetera, et cetera. But now that I've kind of been trading for longer, I know that I have to cover half when I was wrong, right? So I covered half at 275 for break even, the stock bounced up, I reshorted and then I made my money. So had I just been patient, had I been just doing what we're preaching every single day to the members, I would have made a significantly larger amount of money on that setup. What we tell everyone is this, guys. We tell everyone to wait for the stock to tank and then short the bounce. Aim went like this, 275, 285, 295, went to 275, bounced to 280 and then tank to 250. So had I just waited for that bounce, I would have made more money. So that's something, again, so even as a trader that's been experienced, even as a trader that knows what they are doing, I am still getting caught with my emotions because of this quarantine. I'm still finding myself getting formal. I'm still finding myself being bored. So I have to find a solution. I have to create a process around this, right guys? So that was that. So SPCE or SPCB or whatever the hell that stock was, I shorted the death fund anticipation wrong. I covered a hard stop out at the high of the day, right. Aim, I saw the line at 280. I got in too early. I covered half of my position when I was back at even, that was right. When it bounced, I reshorted, that was right. And then I left it alone. So I'm actually happy with aim trade. So let's start talking about PSTV. So PSTV is a former runner. It is a stock that's ran in the past. It's a stock that we know the personality of. So today, when I saw it running up, I basically just waited for it to pop up to resistance and short it. So in the morning, we saw some resistance in the 220s. I caught one short from 220 to like 210, great. Second trade, I caught a short, 215 to 201, great. Third trade, I went back to the well too many times and I found myself overtrading it. I found myself getting back to the well. So just because you do good on a position one or two times doesn't mean that you should be going in for the third or fourth time. So on PSTV, I went back in for the third time. I shorted at 225 and the stock went fucking parabolic, right. It went from 220 to 250 in like one or two minutes. And I was like, you know what? I'm wrong. Doesn't matter. Whatever the cost is, I gotta get out. I got out of the stock at 240. Immediately when I got out, the stock tanked. And that really pissed me off. So if you know anything about trading, this happens all the time when we stop out and the stock tanks or we stop out and then the stock rebounds. That causes our next trade to be an emotional trade. That causes us to over-trade and force the next trade. So as soon as that happened, I told myself out loud in person, do not over-trade, you are emotional. Do not over-trade, you are emotional. Do not over-trade, you are emotional. And as soon as that happened, as soon as I kind of said all that stuff out loud, I cut my day off and I walked away. And although PSTV did bounce after that and I could have made some more money, I found myself being emotional. So today's lesson is about what to do, right? When you are in a losing trade or what to do when you are wrong in a trade. Number one is no matter what guys, no matter what you have to have heart stops. I don't care what you're doing. I don't care who you're learning from. I don't care what you're doing. You must have heart stops no matter what or you will not succeed in this game. Heart stops are, okay, this is the analogy that I use. Values is a different analogy, but the analogy I lose is this. Imagine you are driving in a Ferrari and you are driving on the highway. If you don't have your seatbelt on, right? And you get into an accident, chances are you're dying. But if you have your seatbelt on, if you have your airbag working, you will survive even if you get into a crash. So heart stops in trading are your seatbelt. Heart stops in trading are your airbag. If you are not using it, chances are you will die. But if you are using it, they are there to help you and they are there to keep you safe. So please, for the love of God, no matter what use heart stops. Number two is if the stock is breaking pre-market high of the day and you are shorting, no matter what you must be out. It's the same thing with a death line. If you are long and the stock breaks death line, you must be out no matter what. So number one is heart stops. Number two is stop out on pre-market highs. Number three is if you are wrong in a position, if you feel stressed in a position, you have to exit. So I was working with Dr. Brett Steenbarger for about a year. He was my trading coach. He was my trading psychologist. A lot of the stuff that he taught me, we are teaching MIC members. So one of the things that he taught me was this. Am I back? Someone please tell me if I'm back. Am I back? All right guys, sorry man, sorry, shit. I guess with this quarantine stuff happening in New Jersey, the internet shot her. I don't know what the hell's going on, man. New Jersey and New York are a freaking mess, man. So I'm sorry that all this connection is going in and out. I have no idea what's going on. I'm going on the same trail that I always go on no matter what. So I don't know, I'm sorry, but I have no idea what the hell's going on. So let's recap. Dr. Brest Steenbarger was my trading coach for about a year, right? We went over my statistics. We went over my statistics a bunch of times. Every time we had a session, we always tried to kind of go deep and see what's kind of happening. So back to the trading stress thing. So what we figured out is this, trading should be fun. If you are doing trading right, it should be fun and it should be boring. If you pre-plan your entries, if you pre-plan your exits, you have nothing to be stressed about. Stress only happens in trading when you have not planned for your trade and when you are wrong in a trade. So again, Brett is one of the best trading psychologists in the industry. He's worked with traders that manage over a hundred million dollars of capital. And these are the lessons that he's teaching me. So listen up. He said, use stress as your trigger on a trade to exit. When you are trading, if you feel stressed, let that be a signal in your head that says, all right, you know what? I am stressed, I am wrong on the trade, get out no matter what. So today, when I felt emotional, when I felt stressed, when I felt like the stock tanked PSTV, after I covered it tanked, I felt emotional, you know what, I found myself stressed. So all I did is I repeated it out loud to myself. I said, do not be emotional, do not be emotional, do not be emotional. That was my signal to you to know what, walk away. I don't wanna walk away making fucking $60 a day. I don't wanna walk away making $100 a day. I don't wanna walk away losing today, right? But I am using this process that Bow and I have refined over and over and over again to lead me to making more money in the future. So although today I made 60 bucks, right? I made $67. After fees, I am probably down $5, right? So not really the end of the world, but had I been staying at my setup, aim squeezed up, it went from 270 to 350 or some shit. If I didn't walk away after SPCE or SPCB, whatever the hell the ticker was, it went from 125 where I covered to 190, right? So all of these things that I'm doing in the moment, although they don't seem right, the process is what's leading us to be right. So I am using a max loss. I am using a max risk. I am using a max size. I am using zombie rules and I am using all of these different heart stops, et cetera, to make sure that I am not getting myself in it. What the hell, man? What the hell? Jesus. Can you guys see me? What the hell? Am I back? I'm sorry, man. I don't know. I'm literally walking the same fucking path that I've been walking on ever since we started these lives. I have no idea what the hell is going on with the internet over here, man. Fucking New Jersey, bro. What the hell, man? We don't have shit here. Our taxes are high. We have the goddamn coronavirus and we don't have fucking internet, man. What the hell? Fuck. I'm emotional. I use stress as my trigger. Maybe it's time to fucking end this video. Shit, man, shit. All right, I'm not gonna move anymore. Can you guys see me here in this location by the fucking bushes here? Is that all as good as I'm gonna get? The fucking bushes? I forgot my train of thought. All right, guys. Do you guys have any questions? Let's open it up to Q&A now. I can't deal with this shit anymore. All right, so what's it bigger? The Bush or Alex's beard? I don't know which Bush you're talking about because, so any questions, guys? Let's open it up to Q&A now. Also, again, if you have any questions about trading or questions about MIC, you could text us at 213-458-5997. So let's open it up to Q&A, guys. If you guys have any questions for me, let me actually go back by this fucking Bush. All right, guys, let's open it up to Q&A now. So this is your time, guys, to ask me any question that you want, trading-related, hopefully, and we'll take it from there. So if you have a question, leave it in the comments here and I'll start replying to it during the video. And if this is all making sense, guys, leave a thumbs up. If you hate New Jersey's internet connection, leave a fucking thumbs up. Do you find yourself deviating from your trading plan? I only find myself deviating from my trading plan when I am emotional. When I am emotional, everything goes out the window. So I've been trading for about six years now, so it's really difficult for me not to follow my plans anymore, but I'm still human and it still happens to me. But the point of having a trading plan is so that you know how to react when things go right and things go wrong. So always have a plan. So when aim bottomed at 255 twice, that was a clear indicator to get the hell out, correct. And because zombie time was approaching, I got out and that was it. What's your fees for MIC? Where do I join? And I'm from New York. Do you guys host meetups or conferences? We host meetups every three months, but because of the coronavirus, we haven't been able to host a meetup. If you have any questions, text Tosh 213-4585-997 and he will answer any questions you have. How am I feeling? I'm feeling great today. Top three setups. First red day, death line and low hangers. Good job telling yourself that out loud. I was mad, I was up 250, then overtreated and now made $111. So yeah guys, I am getting better at being more self aware, sometimes talking loud and just talking to myself has been the trigger because then I remember what Brett told me and it's kind of domino. So whatever I'm feeling, I'm trying to repeat it for the guys in the room so you guys understand. A couple months ago, you were working on your long trades. How did you broke down that plan and steps you have taken? Honestly, I'm still trying to improve my long game but what I'm trying these days is first bounces on float rotated stocks or zombie move longs. I haven't kind of refined it even longer. Ask yourself today, if you lost more than $197, how are you gonna trade? How are you gonna learn this shit? Bow, I see you. Questions, questions guys. How do you think a beginner should approach trading? All right, so that's a great question. So how should a beginner approach trading? Is number one is you need to educate yourself guys. You need to educate yourself. Imagine people in trading want to make more than a doctor and a lawyer. It is very possible guys, you can make more than a doctor and a lawyer working 10% of the time. But remember this, a doctor has to go to school for eight years. A lawyer has to go to school for six years. An engineer has to go to school for the same amount of time. So in trading, you have to realize that if you wanna make more than a doctor, if you wanna make more than a lawyer, it's all possible but it's not gonna happen in one month. So as a trader, as a beginner trader, the thing that you should do is educate yourself. Remember, you have to go to school for any profession. You have to be taught any profession. If you wanna make more than a doctor and a lawyer, it's not gonna happen in one month, it's not gonna happen in two months. So what my suggestion would be while you are quarantined, while you are forced to stay home, learn how to trade so that you are accelerating your learning curve. If you have to go to work and you have to do all this stuff, changes are you're gonna probably be able to watch one video a night. But if you are home and you are quarantined, you can watch 10 videos and accelerate your learning curve. And that's where kind of this new project that we're working on is coming. So for those of you that don't know, we have about 700 videos in the MIC Video Library. We've covered every single topic that there has to do with trading multiple, multiple times. But what we figured out is that people don't wanna put in the work, people don't want to watch the 700 videos. So we created a new video series. It's kind of like an accelerated program. So this is gonna be brand new in the industry. No one has anything like this before. This is gonna basically be a DVD where if you don't know anything about trading, you don't even know what a stock is. This DVD is gonna take you from not knowing anything about trading to placing your first trade in seven hours. Now you don't have to watch all those 700 videos. Now all you have to do is watch one seven hour video and at the end of it you could start trading. And this is gonna be special. This is gonna be free for lifetime members. It is going to be free for a limited time to annual members. So if you sign up as an annual member to MIC, you will get it for free for a limited time. And for all the lazy people that don't wanna watch the videos, we're gonna charge a small fee for it. So just know that this DVD is coming out in about a month or so. We are going to give members ample enough time to upgrade and get it for free. And for all the lazy people that don't wanna watch the 700 plus videos, this is gonna be your way of accelerating your learning curve in just seven hours. So this is something completely unique to MIC. We have four free trading DVDs. This is gonna be kind of our fifth one for a limited time. So if you are interested, again, hit up Tosh, but this is again, first in the industry, no one's done anything like this. Imagine not knowing anything about trading to starting to trade in seven hours. Oh, also, Bao mentioned that he's in the Momo Traders book. So if you wanna get a special coupon for that, you could use code MIC and get $11 off. The website is MomoTraders.com. Right now, the lifetime members in MIC have access to this DVD. So if you wanna join MIC Lifetime, you can get access to it now for free. But if you are a lifetime member and you've seen this, guys, what do you guys think of the DVD so far? We've got amazing feedback from it so far. We have seven hours of content. We have a resources page. We even threw in a free Bao Daily recap in there as well. So yeah, guys, while everyone is busy imitating us, we are busy innovating for them to fucking copy us. We've seen so many fucking frauds and so many of these furus online copying everything that we do, man. They're copying the process. They're copying lines. They're copying the trader calls. They're copying the video library. They're copying fucking everything, man. It's crazy. It's crazy what these scammers are doing. They're all joining MIC and then pumping their own shit, man. I mean, I guess we're doing something, right? Everything is explained. No questions left on the DVD. Thanks, Dino. So yeah, guys, this is completely, completely brand new to the industry. No one, you know why? Because they don't want you to learn how to trade because the more questions you have, the more DVDs they sell you. The more questions you have, the more they fucking try to upsell you. No one else is gonna offer you an educational product that's gonna teach you how to trade in seven hours because it's not in their best interest to teach you how to trade. And we're gonna give it free for a limited time, at least. Any more questions, guys? I'm gonna go wrap it up and I'm gonna call Verizon and get me a refund on this internet because I'm not fucking paying for this shit. After cutting it on PSTV, would it be a good idea to re-enter on the push? If it's past zombie times, I am not trading, guys. I am not trading. That's why I joined here at TimSucks. If you need an answer, oh, buy this DVD, no shit. Is it true that swing is a good scalper? Swing is amazing. How would you go about risk management on a small account? Risk more, let's say, bigger account, let's say, three to $5,000 account. Well, number one is you should never, ever, ever lose more than 5% of your account per any trade, no matter what. So if you have a $5,000 account, you should not be losing more than 250 max loss. So set risk rules, guys. What do you think about starting crypto than moving to stocks once I grow 25? You will never grow more than 25 using crypto, cousin. You're gonna blow up on fucking crypto. I am here telling you we have a winning strategy on stocks and you're saying go to fucking crypto? Go to fucking crypto, bro, just go, go. I don't give a shit. But understand that you have no process in crypto. No one knows what the hell's going on, man. It's a 24-7 market, you're gonna go crazy. As a university student, should I be investing my time into university work or learning how to trade? Ultimately working from home is a dream. First is this, guys, invest in your education. You are paying $50,000 a year for fucking college and we're giving you MIC for $200 a month. Chances are that you should probably invest in MIC while you are quarantined, guys. Guys, everyone's gonna sell you these crypto signals, 4X signals, all this bullshit, man. Please do not be scammed. Please do not be scammed. If someone is offering text message alerts, email alerts, voice alerts, video chats, screen share, run, run the fuck away because you are getting scammed, guys. You are getting scammed. Email alert, voice alert, text message alert, screen share, everything. Run the fuck away, man. Run the fuck away. But as a new trader, you learn to be fucking scammed first and then you know what quality is. How much capital do you need to be a successful trader? You gotta at least start with at least three or five grand, man, at least three or five grand. You could start with $500, but chances are you're gonna fucking blow it up. If all of these people are pumping you the small $500 account challenge because they want you to pay for their fucking $10,000 program, $500 starting with this small, it's hard, guys. It's very, very hard. It's almost impossible. One out of a million people will be able to grow that, guys. How many members does MIC have? We have about 1,000 members. And a lot of our members are finding consistency within two to six months. And in two to six months anywhere else, you're fucking blowing your account. So again, guys, if you have any questions about our sale today is the last day. It upstosh, two, one, three, four, five, eight, five, nine, nine, seven. What broker do I advise? If you guys have any questions about brokers, I use cobertrading. You get 25% off commissions at cobertrading. There are days that you get free locates at cobertrading. So they are my favorite broker, my broker of choice. And I will not use anyone else. Any more questions? Would you limit the number of members in MIC? Actually, if it gets too out of control, we are going to, what's it called, cap it. But as of now, as of now, we are still able to help all these people. So if it gets to the point where members are struggling to get help, then we will cap it. But as of now, what we do is we cap the amount of discounts that we get. So if you sign up to annual or if you want to use a discount rate, we only allow 20 of them. So after that 20, you have to pay the full price. So we cap it in the amount that we discount. So I'm sure there's a few left. So hit up Tosh and he will help you out. Guys, you have all of these questions about S&B capital. Why don't you fucking ask them? You guys are always, it's so funny, man. It's so funny. People always have questions about other people and then they come to us to answer them, right? Because we are the only people that still answer your questions. Bao was doing an Instagram live last month where he had someone come on and the guy asked him a question. And he's like, hey, Bao, I'm not part of MIC but I have a question. Bao was like, who's your mentor? The guy said, whatever he said. And Bao was like, why don't you fucking ask him? You're paying him. Why don't you ask him? And the guy was silent. He's like, I don't know, I don't know. So the point is, guys, we are the only ones here answering your questions and you are asking about someone else. Why don't you fucking ask them and see if they're gonna answer? Chances are they're not gonna answer because they don't give a shit. And then you come to me, you come to Bao with your fucking questions. How about you join MIC and you actually learn how to trade? Jesus. You're paying these guys $50 a month and you can't even ask them a question and you guys are complaining about us and you guys are coming to us for questions. Like, think about it, guys, think about it. How stupid do you have to fucking be, right? How stupid do you have to be? If you are not investing in yourself, if you are not investing in your education, why the hell should anyone give a shit? You know why? Because those $50, $100 rooms that you pay, they're pumping their garbage to you. They're pumping garbage. And then you come to us and you ask us questions. Get the hell out of here, man. Ask yourself, if you lost more than $200 today, if you lost more than $200 today, it's probably time to start investing in your education while you're fucking quarantined, while you can't leave your house. What the hell, guys? What the hell? Remember, if you wanna go to a community college and save money, go ahead. Go to a community college and pay $50 a month. If you wanna go to Harvard and you want to learn how to actually trade, you have to pay up, but you're gonna make a shitload more money because of it. How much should I start trading with? I started trading with $2,000. I sold the rims on my fucking car for $2,000 to fund my last trading account. If you don't invest in yourself like that, how the fuck are you gonna make it, guys? How the fuck are you gonna make it? I sold the rims on my car for $2,000. I either made a trading or I couldn't fucking drive anymore. That's how much I believed in myself. And if you don't believe in yourself that much, if you're signing up for a fucking $50 room, $100 room, you're gonna get fucking dog shit results. And then you're gonna come to us saying, I lost all my money, I have all these questions. What is this guy's program? What's that guy's fucking program? Fuck you, bro. Fuck you. Calm, calm down. Stress is a trigger. It's funny, man. People try to save $50 and they instead lose $5,000. All right, guys, I'm fucking pissed. I'm gonna wrap it up. If you guys have any questions, DM me on Twitter, DM me on Instagram, it's time for me to stop out of this YouTube live because I'm getting way too emotional. How come I'm not trading right now? Bro, 1030, I have rules. If you watch any of these videos, you learn these rules. 1030, I don't trade after because I lose money. All right, guys, I'm stopping out of this Instagram live. Good luck, if you have any questions, hit me up. I always answer every single DM, man. I answer every single DM and I answer every single comment on YouTube. I am the one that posts the YouTube videos. I am the one that comments on the YouTube videos. So if you ever see a comment, it's me, not a fucking robot. Thanks, guys.