 Can everyone hear me all right? Let's see if I can get this thing to work Yes, we're just waiting for people to kind of get in here There's a lot different than Instagram, I guess, but we'll kind of give it a try. We'll wait I don't know two three minutes for people to join in and then we'll get started I could see everyone's chats are right. I could see everyone's comments here. It's actually pretty cool. I Definitely 100% need to buy a selfie stick Because my hand is going to start hurting very soon Everyone could see me and hear me. All right, right? There's like effects or something. Let me see what I do. I Can do like special effects. I could do black and white. Wow All right, I see you YouTube It's up there. First things first is go buy a selfie stick. Actually, there's a gas station Right next door. So I just walk to go get a selfie stick. They have it shit. I don't have my wallet They don't take Apple Pay. I bet we're good regardless. We'll wait. I'll go buy a selfie stick as soon as I'm done with this shit so what I'm gonna try to talk about today is the Philly event I'm gonna talk about Trading after taking some time off because I wasn't really trading while I was in Philly and then I'm gonna talk about the CETX trade my plan for it and how I kind of executed on it What did everyone else trade today? And how'd you trade today if you did trade? CETX F5 What does that mean CETX F5? Wasn't it just that? two bucks or something CETX RKDA What time is it by the way? I can't see what time it is 11 o'clock yet We're kind of like a few more minutes for everyone to kind of get in here I know it's kind of new for everyone to use YouTube instead of Instagram, so I'm sure it's gonna take some people some time to kind of figure it all out So we'll give them kind of like the benefit of the doubt. We'll let them Kind of get in here, but as we're waiting for everyone to kind of get in here Does anyone have any questions? so for those here That are in the YouTube live right now Did you come to Philly and if you did come to Philly What'd you guys think of it and the reason why I'm doing a YouTube live rather than an Instagram live is I just kind of Want to test out the different platforms, right? If we're always doing it on Instagram. That's cool and that's fun But you know YouTube is kind of cool You know there's we have a bunch of subscribers on YouTube that probably don't have Instagram So maybe just changing it up a little bit would be kind of cool But I kind of just want to see the different dynamic. I want to test out YouTube's platform a little bit see what they're kind of working with YouTube has more lagging so it's lagging more on YouTube How's the quality? Different between YouTube and Instagram like is the YouTube better is the Instagram better I just kind of want to get the feel for this in the hang of this first before I continue Sup Michael only problem is my hand freaking hurts and I know went to short or by but I am scared Do you have any advice? It sounds like you're using too much size and you're scared to lose money You know if you have a process that works and if you have a system that you say you know Went to short and went to buy but you just can't pull the trigger that 100% means that you're in too big You're afraid of losing and it's about time to cut down your size and get back to basics Just the sound is better on Instagram What's any te at that was freaking texting me right now saying holy shit. I missed it. I missed it You need a stabilizer for the phone. Yeah, I need a selfie stick or something. This is all what the hell There's a zoom in three What's going on halted at five? Oh shit. It went straight up. Oh, wow Well, it is zombie time. So All right, I think there's enough people in here. Let me kind of just get started. So first things first first things first is We just came back from Philly right and for those of you that don't know what Philly was it was that we threw a free 100% free Live trading conference slash seminar for our members and basically what does that mean? That meant that we had a free meetup for everyone on Saturday We all met up at a place called Liberty view in Philadelphia You got to meet a bunch of members. We got to be a bunch of non-members And then you know, there was five or six non-members that we kind of invited to the Philly event just because I think that was in a good mood and What ended up happening is we went out that Saturday night to a club We kind of took over the club for the entire night. I saw members were buying bottles for other members I saw everyone having such a great time Wait, holy shit. Do you guys see that? That's an event to door SVJ Holy fuck Jesus Christ Wow There's like a million dollars almost Sorry, I guess I tracked So we had an awesome time at the club We had an awesome time at the meetup and then we had a rest day on Sunday We went to the Rocky steps. We got some cheesesteaks We had a really good time and then on Monday was the live training event So what we did was we had all the lifetime members coming in an hour early To learn how I kind of build my watch list and how I kind of Reverse engineer the plays that I am looking to trade in the morning Also what ended up happening is Bastard trading lot and he made I think it was like two grand in like 15 minutes or like 10 minutes right and his mentality was that hey I'm not just gonna throw an event and have it be done in 10 minutes because that doesn't make sense So what ended up happening is he went back to the well and he lost the money and he showed everyone What happens if you are Greedy and if you overstay in the market because the truth of the matter is Making money in the market is easy. All right. It's easy to make money in the market The hard part is being able to keep it. So that's where a tap comes in That's where I need to kick his ass and get him out of there But then again, I knew what he was trying to he was trying to educate everyone So long story short, we had an amazing conference from like seven o'clock to around four or five o'clock It was a hundred percent free. We met a hundred and fifty members there It was an amazing time and I can't wait to see where we do it next. Hopefully somewhere warm somewhere fun and Again, if you are in here and you are watching this now and you were in Philly I want to know your perspective on it. What do you think we did right? What do you think we did wrong and how do you think we could kind of improve on that for the future? Because the reality is is that these events are a lot of work Shout out to Oliver who helped set up the entire event and got it to be an amazing price so that we could keep it free for our members Realize that other people are charging five hundred two thousand dollars to come to these events And we're trying to do our very best to keep them free But as mic continues to grow we're going to need to have bigger venues to fit more members And we just probably can't keep it free forever. So I think this is probably going to be the last free event that we have Only because as we grow we cannot accommodate everyone this event was almost 40 or 50 thousand dollars Right the next event if we have more people is going to be towards a hundred thousand dollars and we can't just afford to Do that. So what we're going to try to figure out is a way to Make sure that Any money coming in to the event is only used to cover the venue and everything else is used for like food or Drinks or anything for the members. So we're trying to figure it out We still have a lot of time for the next event, but that's kind of what we're working with right now Let's kind of fast forward to training today, right? So I just trained in Philly I was kind of helping bow out try to make sure everything was going well. So I had a bit of fomo, right? I had a bit of fomo so coming into today I woke up early I followed my process Did a quick 10 minute walk outside and came to the screens and today there was at least five low hanging fruit stocks There was rkda. There was ctx there was What was the other ones or the other low hanging fruit of the day? I can't remember. I have it in my watch list If anyone is in here, they could just kind of pull up my watches and let me know It's the crazy thing about training. I don't even remember what I traded an hour before, right? Yet all the patterns are stuck in my head. So today was a low hanging fruit day I didn't want to trade any of the new stocks I did not want to trade any of the hot chicks of the day Any te was a new one that I didn't really want to touch it to low float So what I ended up doing is I looked at ctx, right? jgx ledz and why exactly so What I did today is I wanted to look at the stocks that were moving yesterday That every single person forgot about, right? So that's basically my plan every single day My plan every day is to focus on the stocks that people forget about because anytime there's a new shiny object on the day People gravitate towards that And all the money flows out of these old ones and all the money flows into the new ones So all the money was out of my oh all the money was out jgx all the money was out of Arcadia and it all went to any te. So because that happens I don't want to really be involved in any te Especially into zombie time. So Ctx was my main play of the day It was the stock that I was the most interested in and why was I most interested in that? So I posted in mic the chart level where I was looking at and it was 250, right? So something the reason why I like ctx the best out of anything else was because the stock already broke down It bounced today And not a lot of people were talking about it to be honest. Everyone was focused on other stuff So because this was moving I basically just did basic technical analysis I found that there is a resistance level at 250 I drew it out. I shared it to the members and from there I just executed And what does that mean? It doesn't mean that just because it goes to 250 you short it Right just because it goes to 250 you short it. It means let it test 250 See if it's going to push see if it's going to fail and then from there from there You can either enter Or reassess. So what I did is when 250 failed I took a starter I took a very small starter 250 with the plan with the plan to either a add a 280 and cut it off above three or be If 250 retested and failed I would add size to my winner So what ended up happening is it went to 258? I shorted a small piece went down to 240 right went down to 240 And then it bounced to 252 and failed and the moment That is the Has indeed confirmed that 250 is the level to watch so as soon as it confirmed there I added size to my winner and before I knew it. I was up 20 or 30 cents on the position I took my money and I ran away. So yes, I had a 250 average I covered at 220 and 230 and I missed out an extra 15 cents, but I followed my plan But I followed my plan And I made money and that's all that matters, right? That's all that matters So every single day I am trying to show up And make the most amount of money with the least stress as possible And what I mentioned for the members today is every single day the process is the same every single day We're doing the same thing Every single day. We are looking at the float. We are looking at the filings We are looking at the chart We are setting our fantasy words and we are setting our stops every single day It is the same freaking process Oh, it's lagging a little bit. Give me a sec. I'm gonna walk back home and get back to the wi-fi Every single day, it's the same process, right? Every single day. I'm doing the same thing Some days I make a lot of money Some days I make a little bit of money. Some days I lose money But that's the point The point is that every single day you stick to your process because if you lose While sticking to your process, it doesn't mean that you are wrong It doesn't mean that it's time to change everything. It doesn't mean that you're doing something wrong It just means that these are the probabilities as trading, right? You cannot win 100% of the time trading. It is impossible to win 100% of the time in trading But if you have the right process, you have the right stops, you have the right everything Some days you're gonna make money. Some days you're gonna lose money Or the days that you lose money is gonna be small compared to the days That you make money, right? Your goal is to only lose one or two days of work not a month of work Not a week of work not a year of work, right? Sorry, let me kind of get back to this. Let me go to my office I think I showed everyone my office, right? Let me kind of Push the camera That is what I'm kind of working with here. This is where the photoshop team comes in So Let me kind of just put this here Everyone can see me and hear me. All right, right? I'm just trying to get used to these different angles because of youtube But yeah, that's basically this the simple part of it is that every single day you have to show up and do what Works for you. So Some things that we discussed and Philly some people had like some really amazing questions And I kind of want to outline that so one of the really good questions was How does someone you start doing this, right? What is the right way to do this, right? And the truth of the matter Is that the common mistake that most traders make the common reason why most traders fail is two things one Improper risk management, which means you're not using stops. You are being stubborn. You are being egotistical You are trying to prove something to the market and say that you're always right and the market is wrong That's how most people use I mean that's how most people lose So that's why we've implemented the system of hard stops trailing stops All these different types of stops to make it so robotic To make it so robotic that all you have to do is set this order And the the order takes care of itself, right? The other reason why a lot of traders fail Is because they do not have an edge, right? A lot of traders fail because when they get into the market, they want to trade long They want to trade short. They want to trade options. They want to trade futures They want to trade fucking gold. They want to trade everything, right? They think that being a trader means that you got to trade amazon. You got to trade google You got to trade everything But the reality is that you should not be the jack of all trades. You should be the master of one So find what you are good at in the market experiment It is okay to experiment with options and futures and logs and shorts if you don't know what you're doing But just because you find an edge in options doesn't mean that you should be trading futures again Or it doesn't mean that you should be trading everything if you find your edge in small caps or if you find your edge in large caps If it's long or short you should try to refine that and improve that Over and over again rather than trying to master other stuff after you have mastered Longing and shorting and all that stuff then you could deviate to other things But the truth of the matter is you should stick to one thing Focus on that become the master of it and just do it every single day I know that my edge is going short on extended small cap stocks My edge is not trying to buy a dip there. My edge is not trying to buy the breakout Although some people make money doing that that is not what my edge is. That's not what I specialize in So I am only sticking to what I specialize in if that makes sense. Does that make sense? Let me know what you guys think Once you add a size of 250 What would your risk have been to stop out and ride? So let's pull up the ctx chart So ctx the high of the day was 259 and I shorted size on the lower high at 937 So my stop would have been to stop above the high at 934 which is 260 So I'm risking 10 cents to make 20 to 30 cents Some people are saying the quality is bad. Is that true? Let me see what I could do. I don't know how the hell I can Improve this I'll start messing around with it and seeing what I could do. But yeah, I'm just kind of testing this out I want to see uh If this is better if this is worse for everyone because we've been using instagram for so long And everything works fine. I kind of just want to change it up a little bit Do you scale with the same size 555 or do you increase as the stock rises? So um What I like to do what I like to do is I'm not the best at math, right? I'm I'm not the smartest guy in the room. Uh, so I just want to keep it simple If my max size is 3000 shares and I have three lines to scale I'm going to scale 1000 1000 1000 rather than 500 Then 1000 then 1500 you know what I'm saying um So it's just different. It's just different. There's everyone has a method to their madness, right and Something that I've mentioned also in the past is that um What works for me what works for me should just be a guide to what you can do, right? Because my personality is different than your personality, which is different than bow's personality Bow likes to scalp everything and he likes to be in control and hit every single piece of the move Whereas me I look for one inflection point to short in and then as soon as I get my money I'm out of there and I get the hell out of there Because I know that based on my personality. I'm in top and bottom because that's my personality Whereas bow's personality is he likes to be a control freak and he likes to hit every little thing. So Just because You are trading the same stocks every single time me and bow trade the same stocks We have totally different uh entries and totally different plans Yet we nail it every single time because our process is similar our process is similar and that's what matters Give me a sec So do you guys have any questions about that? and again if you have any questions or Kind of mention it here and I'll try to uh Run through them So I'm like looking around looking at this net over here at 515 That's a big ass trap if you just cut it off at 10 30 you would have made money Isn't that the freaking crazy part? Isn't that the crazy part? 10 30 rules freaking everything man What else do you guys have any questions for me? So just uh A heads up. We're having another free meetup tonight. Uh in chicago Let me show you kind of the information So we are having a local meetup at restoration hardware booth tonight at apm in chicago So if you are a member or a non-member you could come to that meetup and meet some members All right, I got a bunch of questions. Let me scroll back and answer them all thoughts on sure trader I used to use sure trader five years ago Um, I don't really use anymore. I don't recommend it to anyone. They are too sketchy and I don't want to mess around with any Foreign brokerages. I only want usa ones How do you calculate ssr on the stock you take the closing price of the stock and multiply by 9 and that is your ssr number Do you do the same thing walk outside or whatever before you trade to get in your mental stage or zone like a psychological trigger? Yeah, believe it or not I try my best to wake up early and go for a very quick walk just to kind of clear my head But the problem is is that uh, I like sitting there and watching pre-market action To know how to react when the market opens because the more information that I have about a stock The better I can perform. So sometimes I feel that if I'm walking outside early in the morning Uh, I am losing time from watching the market So that's something that I'm kind of working on. That's why I am trying to wake up a little bit earlier to get in that extra time to walk so um Being under pdt. I have a hard time pulling the trigger on a trade afraid of missing out on the better one Well, that's okay. So that's really important. So something that I've learned about members and non-members under pdt is that it forces them to be selective, right? It forces them to Uh, only trade the best setups, right? So what does that mean, right? That usually means that some people are scared. Some people are scared to Uh, short or long based on pdt because they think that there's a better opportunity for them If you made a plan if this is in your setups If this is your edge if this is something that you've traded in the past There's no reason to be fearful, right? The reason why people are fearful in trading is because they do not have a plan So let's break it down, right? Let's try to form a process to make you have a better plan number one Entry where your entry is going to be eliminate formal Set fantasy orders, right? If it gets to your desired entries, the fantasy orders will fill you Number three after your fantasy orders hit What you should be doing is setting a stop to make sure that you don't lose more than you are willing to risk And then after that it just becomes robotic because think about it You're sitting there. You have your fantasy order set You're just waiting for them to hit when they hit you put your stop and then you put your cover Either one is going to hit either the stop is going to hit and you're going to be out Or the cover is going to hit and you're going to make money So at that point you're just sitting there and waiting for it to happen. So Proper planning is key Um, can I start with 3k? You could start with however much you want The point is that before you start with real money You should be paper trading first to prove you have an edge And then getting into the market with 100 shares max size And practicing with real money Because using paper money and using real money is a totally different ball game After you have proved yourself that you have an edge paper trading after you prove that you have an edge With 100 shares, then you could dive in Two years paper trading. Yeah I mean, that's basically it. I mean like I don't want these instagram lives to be repetitive and boring But the truth of the matter is that trading is repetitive and it is boring every single day I come and I do the same freaking thing Every single day, right every single day. I do the same freaking thing and Sometimes I make money sometimes I lose money But that doesn't mean that my process is wrong. Remember that not all trades are going to be winners Not every single time are we going to make money and that doesn't mean that you are wrong It doesn't mean that your process is wrong. It just means that these are the probabilities that you're not going to win 100% of the time So do you guys like the instagram better? or the youtube better because This is kind of just a test and if it goes well, it goes well If not, we'll just go back to instagram But I kind of just want to get everyone else's feedback because You guys are the one watching this stuff and i'm the one recording it So I am more than comfortable doing whatever that you guys like more So let me know in the comments right now so I could kind of figure out what to do for next time YouTube is better youtube both are good IG instagram youtube youtube youtube wow, I guess everyone likes youtube The quality is normal everything is good because I know some people said that the quality was kind of sketchy I feel like more people have access to youtube. Yeah, I think that's true. I mean you don't have to use a phone for youtube The youtube is laggy YouTube will get more people I wonder if the youtube is laggy Because I'm recording live and then when it is done and it processes it might go to hd So I don't really know how all this stuff works. I'm just kind of messing around with it There's like a bunch of effects that I could do um You might have to use your desktop for youtube I mean I could do that I have a webcam Maybe I'll just but the problem is I like walking around right So maybe what I could do is if I'm home and at my desk I could do the youtube live and if I am Oh, wait, is there different settings? Maybe I could stream in higher settings No Watch everyone else start doing youtube lives Okay It was high quality when I first started walking Uh, do your back testing? That's funny. I mean look i'm always open to messing around and trying new things Um Okay, so that's what that's what we'll do. We'll do this when I am home And I want to recap a setup or recap a trade I will do youtube and whenever I want to walk outside or we want to bring on members will do instagram Because again, uh, I'm always trying to improve all these things and some people message me saying that they have Problems with instagram. So I said, let me try youtube for today. So again, I'm always willing to kind of help and improve so Um, yeah, do you guys have any other questions for me? I'm seeing all these other people doing meet-ups now every single one of them They're all doing meet-ups. It's crazy Again, we are having another Free meet-up today in chicago at the restoration hardware rooftop at 8 p.m It's at 1300 north dearborn street in chicago. We're gonna have our moderator oliver there We're gonna have our moderator chicago trader there Um, do you locate multiple stocks before open? I locate ctx and leds about only ctx Yes, I locate what I need in the morning But it depends. So for example, right for example, what I like to do what I like to do is If I really want the stock And I know that the stock is going to be in play Uh, I know that I am going to locate as much as I need whereas if I'm not too confident Or not too comfortable with the stock I will only locate enough for a starter position And then if I need more, I'll just locate more Yeah, everyone's doing meet-ups now No one cared about their members until I might see starter, right? But again, at least we are making the community a better place, right? Everyone's copying us with the meet-ups. Everyone is copying us with the merchandise Everyone is copying us with all the stuff And they don't do it because they care and they do it because they have to compete And the reality is we do it because we actually like meeting people We actually have fun meeting people They are going to burn out and they are going to get so bored of it because they are not real So we're just going to keep doing our thing and that's basically it Still whenever I look around like this, I'm just looking around at the different charts I have Docs charge the kid needs to get into his conference. How much did he charge? So I mean, that's it. I mean, like I only like doing we have a schedule for these Instagram lives It's every Monday and Tuesday, but because of the meet-up We've been kind of really busy and you know, it's been a lot of work trying to get everything set up So me Balintosh had like a few days just to relax. We went we got foot massages. We went to a spa So it's kind of just nice to get back into the groove of just working and trading and walking and instagraming and recapping because That is part of my daily process and every time that I stray from my daily process. I lose Here's ctx bouncing 230 would be a nice level to short If you guys don't have any other questions for me, I'm going to wrap this up And I'm going to see how I can upload it or see what the quality is going to be like because Again, uh, some people like the youtube some people like the instagram today was just kind of a test run I think I'm going to try the instagram Next week or whatever our schedule is for it and then we'll take it from there Maybe I'll alternate every week But this is kind of just a test run to see what everyone thought about it. Some people like this Some people didn't like it. My arm was hurting holding the phone the way. So I don't know. We'll figure it out Oh, also, let me show you some really cool things that some members got me from Philly, right? so Travel Is karma Whatever you Give out it'll come right back. So I thought this was amazing This is such a freaking incredible thoughtful gift and I have a right of my trading office. So thank you so much pima for Moderating you guys. Look, it's engraved My investing club alex and one-year anniversary How freaking sick is that I got to fill this up with some whiskey We really have the best members in the world. I'm so so so grateful for everyone Small gestures like that goes such a long way And that doesn't mean that you have to always get us a gift or anything like that but you know pima traveled 16 hours to the event and even with doing all that he still had the mentality to get such a Thoughtful gift and it's not an expensive gift It's not something that is gonna break the bank. It is just so thoughtful It's so freaking amazing that just so touched me. So thank you so much for getting that Yeah, I mean, that's basically it guys. So uh topics discussed today. We're Philly Cetx pre-planning the trade we discussed how to start trading with a small account We discussed What's called being the master of one rather than the jack of all And we discussed how important stopping is and how important pre-planning is so again Kind of the time flies. It's been going for 38 minutes already But again, I want to keep the short and sweet because I recognize that the longer that these are the less that people watch it So let me upload this onto youtube. Let me see if the quality is going to improve but As for now, we'll go back to instagram lives And then we'll take it from there. So thank you again for everyone that came uh, thank you Fernando and Pima for the amazing gifts and thank you everyone for coming out to Philly. We'll see you next time