 I'm gonna clean up the lens and get started What's up everyone today is Wednesday? Usually I do these videos every single Monday But Tosh is out today. So I'm gonna cover and make a video on Wednesday It's gonna kind of really quickly recap the market action and I'm gonna open this up to an audience Q&A if pretty much the most most commonly asked questions and day trading so Let's kind of recap where we're at, right? So right now. It's January 26 2022 Small cat market has been pretty much dead all month last year 2021 January is when we had AMC when we had GameStop when he had KOSS Blackberry Bed Bath and Beyond you had the craziest craziest runners pretty much of the entire year last year in January and This year we have the total fucking inverse, right? It's the most boring the slowest the most dead month ever, right? So This is just a market cycle guys the market moves in cycles, right? So What I've been reminding people is just because there's one month of slow action Does not mean anything if the other 11 months are crazy, right? So we haven't seen anything yet in the markets and I think this is kind of teaching a lot of people a lot of bad habits A lot of people are overstaying a lot of people are Oversizing a lot of people are losing their risk management in these type of markets and one day one day It's all it takes for it to get screwed up. So I think we're very very close volume is slowly starting to come back into these stocks They're starting to act a little bit more trappy So what I've been doing in this market guys is for the small caps. I've just been waiting I just been on the sidelines. I haven't really been attacking. I haven't really been doing anything I've kind of been you know focusing more on large cap stocks because that's where there's a lot of attention right now Especially with the Fed meeting and this is not my first time trading large cap stocks It's not my first time doing that stuff. So I have had experience in this But I have a pretty much a 90% win rate in small caps. So that's where I focus most of my attention But when the market is slow, I don't mind looking elsewhere. I don't mind trying to learn new strategies I don't mind expanding my playbook and just doing it with small size, right? So for me guys for me in this market I've just been taking it really slow. I've been trading for eight years now My eight year anniversary is next month. So I've been seeing pretty much all types of market action I've learned in my eight years of trading that if the market is slow You're better off just relaxing and taking it easy and not really sizing up because The last thing you want to do is burn your mental capital when the market is slow And then when the market heats up again all of a sudden you're already tired you're beat you're exhausted You've been chopped up. You've been death by thousand knives, whatever it may be. So in these market conditions guys I'm just chilling. I'm just relaxing not looking to make a Lambo every day Not looking to make a fucking Prius every day Pretty much looking to make an iPhone every day is what I'm looking at in these markets, right? So that's kind of where I'm at in the market. I've been scalping, you know Volatility I've been scalping Tesla. I've been fucking around a little bit and you know some days I'm up some days I'm down, but it's pretty much guys. I'm using size that doesn't really change my life It's very just small methodical Testing ideas just trying to learn and expand until the small cap market comes back because when the small cap market heats up again when the cycle heats up again, then it's gonna be time to make money and What will lead to a small cap cycle or small cap market heating up again? And I'm gonna tell you guys very simple all it takes is one runner one runner. I thought it was gonna be SRR a Right now. It's kind of just trading up. It's not really up to anything but For me guys for me. I'm just waiting for that one big runner because if you remember Dwhack DWAC went from about five dollars to a hundred and eighty dollars in two days and then for a week or two weeks We had a fucking crazy market people were making ten thousand twenty thousand hundred thousand million dollars right in a week So basically just waiting for that action to happen because it is gonna happen And the reason why I know it is gonna happen is because human emotions guys human greed the stock market is designed as a Way to kind of make your worst Your worst habits your worst emotions your worst everything come out, right? So in the market when people are getting very comfortable shorting lows when people are Oversizing when people are looking for all-day faders all takes is one of them one stock to not conform to that shitty pattern And everyone gets stuck the longest get cut off guard the shorts get cut off guard We get a parabolic runner and then for the next couple days next couple weeks, you know The market's crazy and that's why you see pumpers in this market not being able to make money What was working is six months ago for these pumpers because by fucking everything doesn't work anymore, right? It doesn't work for a couple reasons number one the market sentiment the market cycle does not allow for dumb money chasing to work in This current market cycle and number two all the people that were buying six months ago seven months ago are all broken out They're all bankrupt. They lost all their fucking money chasing these alerts guys So that's why you're not seeing any of these crazy runners, but when the market cycle does heat up When the market does get back to fucking being crazy These pumps are gonna work even stronger than before because everyone's been counting it out for the past couple months So do you see the mentality? Do you see the thought process that is being portrayed here today is that I am basically Waiting waiting for every single motherfucker to get destroyed After every single motherfucker gets destroyed on these all-day faders these all-day this this Oversizing this that it's gonna be very clear as day when we have a fucking crazy-ass runner when that crazy-ass runner destroys people That next day When everyone is fucking cautious is when I'm gonna come in with a bulldozer a pile driver a fucking tsunami We're the size to destroy these stocks, right? But until then I'm just waiting. I'm waiting like a good Like a good hunter. I am waiting in the sidelines with camo behind the tree waiting for everyone else To get destroyed and then I'm gonna come in and in the meantime I'm very okay taking it very slow very calm and You know focusing on using this off-time to spend with family that I've been neglecting for the past six months because more He's been fucking crazy. I haven't had time to see much friends or much family over the past couple months Because I've been busy fucking trading and now went slow I'm using that as my excuse to you know spend time building those connections that I've missed out on because I've been fucking trading, right and Again guys, this is just a reminder that if you're not already consistent if you're not already profitable There's no reason for you to expand yet because you don't really know what the hell you're doing, right? It's actually very interesting because I want to also remind you guys What is kind of happening in this market? So on the day that this is being recorded the Federal Reserve is gonna have its minutes at 2 p.m a lot of people liked when I talked about that in the last video and basically all you need to do is There's no way of anticipating There's no way of knowing what the Fed is gonna do whichever way the market goes That's the way you got to follow because you got to follow the trend, right? So we have a very important Federal Reserve meeting if they come out and say that they're not gonna raise interest rates Markets gonna shoot up and we're probably gonna get a bunch of runners tomorrow If they come out and say they're gonna raise interest rates like crazy markets gonna tank and the drought is gonna continue Right, so it's basically just a waiting game right now. So Before I get into the Q&A for today, I want to remind you guys about our meetup So we are hosting a trader meetup this Saturday January 29 in California. It was 100% free to attend. There's no strings attached This is your chance to meet me. It is your chance to me bow This is your chance to meet the MIC team and this is your chance to network and meet other traders When I first started trading and even now eight years in I have no friends in the real world that understand trading All my friends are an MIC virtual, right? So when we started MIC our goal was to unite traders and bring traders together, but then COVID happened We couldn't host any more meetups So this is gonna be kind of our first meetup back from COVID and all the information is that my investing club comm slash meetup It's free to attend. All you have to do is register. You just got to register and we'll see you there It's gonna be set up in a wide open park. So there's gonna be no masks We're gonna have pizza park games and it's gonna be very chill very casual very laid-back No presentations know nothing crazy. It's just your chance to meet other people that are passionate about the same thing as you Which is trading right? You know, I'm a very shy person in the real world But one thing that I love one thing that I'm passionate about one thing that I could talk about for fucking 100 hours a day Is the market and this is your opportunity to meet with Hundreds of other traders that have the same passion as you that are maybe going through the same things as you and together As a team you could help them and our way of facilitating it is just making it fucking free We're not getting anything out of it. We're not planning on doing anything out of it It's just our way of kind of giving back and going back to why we started this community, right? So all the information is at my investing club comm slash meetup Hotel info location parking. So we'll see you there. It's gonna be a great great great great great great great time Okay So now Let's open it up into an audience Q&A. Obviously, this is a live video So I'm gonna read the Q&A from the live chat And then if you guys have any other questions, you could just leave a comment on the video after and I'll go back And I'll reply to it. So if you guys have any questions, let's talk about it right now It's up Alex on a first red day setup if you short when it goes red Where is your risk on these is it gonna be too wide for risking high today? Yes on a first red day setup I like to risk a reclaim of red to green because if it reclaims red to green and holds setup is no longer valid At the meetup at the park, you guys don't need to have vaccine You just need to have proof of vaccination if you're trying to go to any of the restaurants in California What was your thesis on Vix yesterday Vix is a very very complex trading vehicle guys I do not recommend you guys trade it unless you know what the hell you are doing, right? So Vix just measures volatility right a lot of people think it's the inverse for most of you guys just ignore it I've been trading it for a very long time. It's a very very extreme extreme risk So that's something that you shouldn't worry about unless you've already been trading it multiple times And I do not recommend trading it unless you know what you're doing What studies do you use for scalping again guys? I just use support resistance and VWAP no need to use RSI ikimuku clouds fucking Any those theoretical RSI studies, whatever you just keep it very simple Any great investing book that you are reading at the moment. Honestly guys. I'm more of like a visual learner I'm not like a reading learner. So I just watch a lot of videos and a lot of content on YouTube about Anything successful. I mean if you're already on this channel guys if you're already watching this video Everything that you need to learn is on this fucking channel What about a straddle on spy on a day with Fed at 2 p.m. It's better not to anticipate the Fed is better just wait for them to say what they're gonna say and then follow the trend Hey Alex, can you tell me if a stock will pop or bounce or fade at the open if I knew every single stock that would pop or Bounce or fade at the open. I'd have an island by now Trading is a game of probability guys There's no way to know or crystal ball to know that For stock is gonna pop up or go down if we knew that a stock was gonna pop up or go down I'd be fucking mortgaging my house I'd be fucking selling my body to science and I'd be going all in one million times leverage taking every one trade every day and Being a trillionaire. It does not exist guys. It does not exist. You have to use probabilities You have to use charting you have to use all these things to predict a possible probability the stock doing what you think it will do Can you talk about your exponential growth when you started trading career to now? I mean guys, there was no day that I just woke up and I made you know a million dollars in a day, right? When I first start trading remember eight years eight years, okay, do you know what that means eight fucking years? okay, so on My first year trading on my first year trading. I lost money My second year trading. I broke even my third year trading. I start to make a little bit of money, right? It was not until year four and year five that I start to make Exponential money, right? So I mean a lot of people that are joining and learning right now I think that you're gonna be a millionaire in six months. It doesn't exist, right? MIC gives you a shortcut if I had MIC when I first started it would not have taken me fucking four or five years It would probably take me half that time or even less Problem is that if I told you right now, it's gonna take you eight years to be a fucking millionaire All of you guys are gonna say to go fuck off, right? But that's the problem I worked my ass off every single year every single day for eight years straight to get to the point where I can tell everyone else to Fuck off, right? And that's the thing guys like a doctor has to go to medical school for ten years To make half a million dollars a year I'm on year eight and I'm making three million dollars a year working one hour a day So it's just a matter of committing yourself to this a matter of taking it seriously and realizing that you still have so much Fucking time and you had to go to school for four years in college just to get a degree Imagine if you use those four years instead of learning how to trade and fucking being an MIC you'd be a millionaire in four years, right? So there was no day no one random day that I woke up and I made $700,000 an AMC it was after a culmination of years and years and years of doing the same setup Which was the first red day setup and then seeing when the opportunity was there to load up and size up And that's when it happened, right? How do you get into the zone before open? I always feel anxious and nervous. So I have a routine guys So let me tell you what my routine is when I'm getting ready for the open. So I am a neat freak, okay? I don't know if it's the Virgo and me. I don't know what the hell it is, but I love cleanliness Okay, I think cleanliness is the fucking the way to fucking heaven. I love clean shit I love everything so what I do guys what I do before the open is I fucking clean my house For some random weird reason it calms me down, right? It calms me down There's everyone always has something that maybe calms them down for me. It's cleaning. I like cleaning ever since I was a kid I fucking love cleaning. So what I do is I fucking vacuum the floor. I fucking Windex the tables I love being in a clean environment when I'm in a clean environment. It calms me to fuck down Okay, so for me for me being able to clean my house and being in a clean environment Calms me down so much that then I am prepared to fucking trade Now that doesn't mean that all you got to do is clean your house and you're gonna be fucking rich You have to find something that calms you down, right? so Another thing that you have to keep in mind is the reason why you feel nervous the reason why you feel anxious The reason why you're bugging out is probably because you don't have a fucking plan on the day, right? You don't have a plan For me guys for me I know that before I enter any fucking trade any fucking stock I have a plan if things go right and a plan if things go wrong I have a target and I have a fucking exit in case things go down, right? So for me if you don't have a plan on your trades of the day If you don't are if you're not preparing yourself if you don't know what to do if things go right and things go wrong Obviously, you're gonna be fucking crazy. Obviously, you're gonna fucking bug out and one of the members about a month ago Told me something very very good. They told me that once they set up a max loss at the broker level They now knew the maximum amount that they could lose every day and that calmed them down Okay, because the problem is you're fearful because you don't know how much money you're gonna lose on any given losing day But if you set up max loss at the broker level Then your losses are capped and that fear of losing more than that cap gets removed and trading becomes easier Replay that part replay that part right now because that's that might be the secret for you and for bow I know bow likes to listen to music. He likes to listen to modern rock He likes to listen to the fact Phantom of the opera bow listens to music to calm him down for trading, right? So everyone has something that helps him calm down guys and on top of that That thing that you do to calm yourself down. You must also have a plan in the morning So as bow is listening to his music. He's placing his fantasy orders. He's getting his plan ready He's getting his shit together for me. I like cleaning around. I like I just like being in a clean environment Okay, I just like being in a clean environment because if there's a mess it kind of sticks in my brain I get nervous I get anxious. So that's what works for me, right? And every human is different right bow's not gonna fucking clean up his house But instead he's gonna listen to music right whereas I do the opposite. I don't like to listen to music I like to clean around. So that's just one way to kind of help you prepare for the morning That's just one way to kind of help you get your shit together. You know what calms you down Maybe you got a fucking smoke a hookah before the open. I don't know. Maybe drink some tea Maybe I don't know. Maybe I have a piece of fucking cake. I don't know. I really don't know You know what it is, right? So that's that Let me kind of go back because that was a pretty big tangent When you first started did you have a long-term mindset or is that something that you developed? When I first started guys from day one, I treated trading as a business I did not treat it as gambling and because I treated it as a business I know that it was gonna take some time It's like a little bit longer than I wanted because I didn't really have the support system that MIC did It was just me and bow doing it together, right? So that kind of was what it took me a little bit longer, but the fact there's a support system now There's no excuses guys. There's no excuses I'm going back right now Hey, Alex on BBIG first read that you traded it reclaimed green after a wet red Do you cut it when it goes green and reshort? What I would do is I would cut half at green and reshort when it confirmed Any type of discount to join email Tosh Tosh at myinvestingclub.com and we might be able to do a discount on a case-by-case basis Hey, man, you always say that having a difficult stock to short is good because you have less competition Is that because there's more sellers basically guys if a stock is easy to borrow there's more people shorting it If a stock is hard to borrow there's less people shorting it because there's lack of access to the borrow and that means that there's less Competitions there's probably a higher probability of the stock going down if it's hard to borrow Guys today call your broker and set up a max daily loss. This will protect you 100% You mentioned you've been trading for the last eight years where you're trading full-time or part-time I was trading when I was at Starbucks guys. I used to work at Starbucks so I was trading part-time and trade and working at Starbucks and then I was a student as I was trading part-time and Going to fucking school. So I was I've been trading part-time forever even now as a full-time trader I'm only trading part-time. I want to hang an hour a day It's not it's guys a lot of people tell you that you have to be here all day I swear to God on fucking Allah Buddha Shiba, whatever God you believe in the fucking God of thunder I don't know what God you believe but I'm telling you I am telling you that the less time you spend in front of a Computer the more money you make because the stock market is designed to take your fucking money It's gonna take your money and give it to the fucking sharks the whales the funds the everything So the quicker you can make your money and walk the fuck away That's how you can make your money guys. That's how you make your money So do not be focused on being here from 930 to 4 if I was here from 930 to 4 I would have probably not made $3 million dollars. I would probably made $300. You know what I'm saying So for me walking away Walking away is what made me a millionaire because the market can no longer take my fucking money away from me Okay, does that make sense? Do not quit your day job Trading is very stressful. You must have some sort of income to help so that your brain doesn't get fucked up Do you use hard stops all the time hard market stops? If you set up a broker max loss have them set you up an auto liquid date Okay, and this is how you're gonna set it up if you make $100 a day call up your broker and say hey set up an auto liquidation for a $100 loss If you make $10,000 day hey set me up an auto liquidation for a $10,000 loss If you make a million dollars a day you call me up and you see if you have a fucking daughter ready to marry me Okay, so that's what you have to keep in mind set it up as auto liquidation So that your losses are fucking capped and no longer. Are you worried about your losses getting out of control? Does that make sense? Okay? Do you still have red days from time to time? Let me show you something motherfuckers So I want to show you something guys this is my Trader view of 2021 This is my trader view. Do you see how many red days I had? I'm not some fucking genius. That's gonna tell you you're never gonna have fucking red days I'm not here to tell you that you're never gonna fucking be read But look how many fucking red days I had and I still made three million fucking dollars on the year Three million dollars with all these red days guys and the reason why I did this to show you that a Millionaire trader your mentor your whoever that you look up to is gonna lose and just because I fucking lose Does that mean that I am broke? I make sure that my fucking losses are always smaller than my fucking winners and look at that Look at that Even on my best months guys my best months. I still had two red days I have not done an all green month and an all green month does not fucking matter So, I mean, I don't know what else I could show you guys I don't know what else I could tell you I posted that to the members today to kind of help them and motivate them and remind Them that you don't have to fucking win every day to make money, but hey, hopefully this kind of helps you out So if you have any questions guys leave me some questions Leave a comment on the video leave a like on the video Maybe tell me one lesson that you learn on the video and hopefully I get to see you guys at the meetup on Saturday, right? This is your opportunity and It's gonna be a great time. I really think it's gonna be a great time It's not gonna be fucking we're gonna not gonna be fucking presenting. There's not gonna be any fucking crazy shit I'm not gonna sell you a timeshare. I don't need your fucking money. I already have plenty. It's free This is just our way of giving back, and you know, it's gonna be in a fucking park I'm gonna be throwing fucking frisbees and footballs and having fun, right? I'm gonna be having fun with other people that love fucking training, right? So anyway guys, I'll see you guys back in the room. Hopefully