 One of the most common questions I get asked is, you know, how do I start day trading? So what me and my mentor about it for our viewers on YouTube is create a free mentorship course that reveals our 12 secrets that every single brand new day trader should know before they get started. But please take note that there is limited seating every single week. So please reserve your spot at myinvestingclub.co. Link is in the description. All right, enjoy the video, guys. What's up, everyone? It's Tom Diesel here. I hope you guys had a great weekend. Today we just had a great weekend mentoring session. A lot of good questions from the members today. So if you guys miss, make sure you go back and read all those questions again. So today's topic is gonna be about what to do when your trades don't go as planned. I mean, this is just about, I mean, this is just an example of when I have like some certain thesis behind the trade and I just execute it, right? With, you know, clear mind, you know, that's that. Like, this is what I've been doing for a while. And I know that, you know, it's not gonna work 100% all the time. I mean, nothing works 100% all the time. So that's why you have all those status there for, right? So you trade, you know, let's say you trade out of 10 trades and seven or eight of them being up working. So, and, you know, that's good, right? Those two or three trades, it's gonna be outliers. And those two, three trades, it's not gonna work. So you have to kind of deal with that emotionally. And, you know, to me, like the nature of trading for me is more like, you know, like I'm the casino, right? And I want to take the high probabilities bet. And again, you know, I could take, you know, easily, you know, 10 or 20 paper guts at a time. But I know that, you know, all I need, or like all he takes is, you know, two or three trades for me to make it back. But, you know, in order to do that, I need to kind of do back testing. I need to kind of have a detailed plan regarding that. And, you know, I have to deal with that emotionally beforehand, before we even placing a trade, you know, what if and then, you know, and like, just on this one, for example, okay, VXRT here. I mean, this is poor, like, this is a front time, right? I know. But my thesis behind this is that, okay, the stock went from 725 all the way to nine, right? I, you know, I didn't short it here into this line. I was patiently waiting for the stock to come, right? And for the stock to be set first, before I even, you know, short back the bounds. And, you know, that's basically the simple, like the simple strategy how to go short, right? You know, you need to have a thesis. You have to know, okay, so if I short it here, what is, you know, my plan, right? And what is my edge shorting here? Okay, so if your edge is shorting here and, you know, because, you know, first resistance, short around this line, eight line, okay? If it gets over eight, you need to stop out, right? There's no problem with that. As long as you have your edge, as long as you pre-define your risk, as long as you have, you know, a detailed plan or what to do if things go wrong, right? That's the most important part here. So this is what I'm trying to say is that, okay, so the start went from seven to nine, okay? And then it dropped to like, you know, 8.38, 8.4. You know, to me, technically, the top is temporary set. Okay, I'm not looking to, you know, to short here and then, you know, cover way down here, no, no. My thesis behind this trade is that, okay, so the top, after this big rejections, you know, my thesis was to short back the bounds and risking over this high, what it was like, you know, 9.30 or something like that. And for me, you know, I would be risking, let's say I would be risking 20 or 30 cents right here to be able to make, you know, maybe like a 60 cents, something like that, or like 50 cents around this view app. That's my thesis, okay? Hey guys, my name is Tosh Bradley. I'm one of the head mentors of my Investing Club. If you have any questions about getting started in the trading, getting started in the MIC, MIC in general, text me at 213-458-5997. This is not a robot, it is me directly on the other end of my business line and we'll get you in the club. We also have special promotions going on that I can get to you depending on your trading needs. Hit me up, back to the video. And I wasn't, you know, patiently enough for kind of the top to kind of set here and I want to see your rejections to show that the stock, the top has temporary set so now I can show back the bounce. And also, you know, I'm still anticipating this. And so, you know, I know exactly what I'm risking. So right after I get in at nine, I put a stop out over this, you know, height of day and I got stopped out after that. Okay, so this is the key point here. What usually happens to a new trader is that after they took this loss, they end up revenge, right? They end up revenge trading, they end up frustrated with themself, you know, their emotions, you know, kicking in and you know, what to do after that? You know, for me as, you know, as someone that I know, and you know, I've been through this before. I've been doing this, you know, like, you know, like quite a long, long time enough for me to realize that this is the not sustainable way how to treat trading as a living, right? And I've been burned so many times that to me now, those stops or like those, you know, small losses, all, you know, I kind of make them, you know, my friends and I try to kind of embrace them and try to learn from them, right? And I know that I have my edge, okay? So this is my edge here, like the top temporary set, I'll back the bounce, right? So out of 10 times from this particular trade, out of 10 times, I'm right, maybe seven or eight times, okay? And that's good for me. That's good enough for me, a risk reward, right? So I mean, there's a lot of ways for you to kind of trade and I think, you know, you shouldn't be worried too much about the stats. I mean, a lot of stats that could be like, okay, so let's say, let's say, you know, you write only like four out of 10, but those four out of 10, you get like four to one or five to one, you know, a profit ratio. And to me, that's still good. Like, let's say, let's say here, okay? So let's say you risk like, like I'm just gonna put example here, like 10 cents risk, okay? 10 cents risk in order for you to get 40 cents back, right? So you make for this trade, right? For this paper cut, all it takes is one to make it all back. So I mean, maybe your stats in tradeable, it's not, you know, really great because, you know, maybe like 40% or like, you know, 30% but you got the good profit ratio, okay? And sometimes it's gonna be 61 or 71. So it really depends on what kind of risk and reward, you know, the thesis or the trades been giving you. And that's why I said, you know, trading is really just about how to make a highly profitable bet. That's all there is, okay? As long as you can make, you know, the right bet, you're gonna be profitable, okay? And you don't have to worry about anything else, but not a lot of people can think about it that way, right? So when they get their emotions getting in, when they, you know, they're frustrated, they try revenge trade, and that usually leads them to like the inconsistency, you know, and lead them, you know, to slowly bleeding up their account because they don't treat trading as a business, basically. They treat trading, okay, so let's say I'm just a new trader, you know, I have no clue what I'm doing, okay? So what happens is after this, I shorted here, okay, I took a loss, okay? And I'm frustrated with myself, okay? And now like, you know, I try to, you know, and right after the stock kind of tank, I try to short it down here, expecting another dump, right, stock pops, I'm being nervous, got to stop out here again. And here when it tanks, you know, I then I'm chasing down here, stock pop and I'm losing again, you know, it's like, this is, I'm just giving you guys how the example, one of those example, that, you know, it's been doing like, I've been go, I've been, you know, over this for so many times, you know, I couldn't count and I get to the point that I'm really frustrated with myself. I really get tired of myself, that I sit down with myself and I basically said, you know, what's the point in the way? I mean, if you can't handle that emotions, okay? I mean, you could be up for like, you know, a week, months, you know, a year and then all it takes is one stubborn day to give back everything. It's just because that, you know, the trade doesn't work. Doesn't, you know, lead you to the point that you could be revenge trading that, right? I mean, you have to be okay with that because, you know, eight or nine out of 10 times, one of those two times, it's gonna be like, one of those two stocks is gonna be outliers, right? You just have to deal with that fact. You just have to deal with that and being like being able to move on, like being able to take a small loss so that you can, you know, hit back when the optimal set-ups is there. All right guys, so hope you guys enjoy it. If you have any questions, let me know. I'm always available for you guys and I'll see you guys next time. Take care. Thank you so much for watching our video. If you wanna see more of our videos, please subscribe to our YouTube channel by clicking the button here. 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