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We'll let everyone just kind of chill for the five minutes to come in like normal. Anyway, so I had a really crap day and like, so I had five things that kind of really stacked on me today. I had five things. The first thing was I messed up on Tesla. The second thing that went wrong for me is I missed a cover on Tesla, which really set kind of set me off for the rest of the day. Then I got caught in bad news. Then I sold right before a winner and then I missed Amazon. So I had five just, man, and I normally don't stay the whole day, but I stayed this whole day. I worked basically worked all day and I just didn't get the repo reward at the end of the day. I'm really not down a whole bunch of money, but just like the mental over itness was high for me today. So I just thought I'd talk about it because it happens to everybody. So this was NNVC. Now I had an awesome trade on it earlier in the day. Earlier in the day, I had an, oh, I'm so far back. Earlier in the day, I had a sick trade on it. This is when coronavirus, like there was a coronavirus news that just came out. There was a coronavirus kind of like, you know, death toll increase or, you know, like the spread farther and wider. That news that came out that really like put fear in the market, spike NNVC. I was like, man, I missed the entry because I saw the spy thing. I'm like, oh, why is the spy thinking? You know, then I'm like, holy crap, the spy is really tanking. So better figure out why. So I look at why, you know, I was doing my webinar at the time. I look at why I'm like, oh, coronavirus, soxibol, let me, the coronavirus, let me check out the stocks. Of course, the spike NNVC and this one's a leader. So I'm like, let me buy a dip. Right. So anyway, I got a dip and I sell, I sell up here and, you know, basically just a basic first bounce trade. Anyway, then I buy it right effing here. I was like, you know what, I think the coronavirus can gain some more steam. I don't think we're over the coronavirus. I'm like, I'm, I just put like, it's not so bad. I put a starter on, like this is, this was literally just a starter share, but this just set me off because like, I had already messed up on Tesla at the start of the day. And I go over that when I start the presentation, you know, it pops back and like, I know it, like, I know the trade is still valid. And I'm red on the day that, you know, it's always hard to trade at the end of the day when you're red. But, you know, I try to swallow it. You know, I rebuy and then I, you know, like, I've got to, I get into a full size position here, I get into a full size position because I'm thinking we go back to 12 and I just sold it right there. And you know what was going through my mind? Everything I talk about in my webinars, I'm just like, you know what? I was just exhausted, mentally exhausted all day starter from the, you know, the first five minutes of the day I was down. I was just mentally exhausted. I was in a full size position at the end of the day. And that's not normally me. And this trade, like up to 12 would have like, I mean, I would have been green all day after something like that. And I was just, but you know what, I wasn't willing to lose any more money. I wasn't losing to lose anything else. And, you know, I sold it for break even my average was 15. Actually, I sold it for a little like 3 cents gain. That's break even. But like, you know, I didn't even wait for it to get break even. Like, I was just like, you know what? I'm done. And like, then boom, right? There it goes. Okay, maybe define a fancier. I've heard it many times. A fantasy order is just an order that you hope is gonna you hope a stocks and get to the level. But you're not sure if it's gonna get there, but you place it in there because it's a fantasy order. It's it's you hope it's a fantasy if it reaches that level. You know, it's like a dream come true. So you put your order there and if you know, you know, hopefully you fill. And if not, you cancel the order. It's that sort of fantasy orders. Anyway, yeah, it's a pre placed order. So let's get into the meat of it here. So this is kind of like an intermediate thing I want to talk about before I get to the next price action stuff. But one thing I want to talk about is that emotions evolve as a trade goes on. And I brought up this this trick is like I want to talk about like this just a random example. I found this like, let me just pick an NBC like on a day where it were on the day that it moved. Anyway, as a trade evolves, one thing I try to do is I try to judge who is in and who is out who's getting in who's getting out who's staying in right and you don't know who's staying out. But I want to judge who's in who's out who's staying, you know, like how many people are in and how long have they been waiting and try to like interpret that as best I can. And let me make this clear. I don't make trade decisions off of that. That just helps me build my thesis. This is things that I look at when I'm trying to analyze price action and and build the thesis. It's not there's never going to be one thing that says, Oh, look at that, I'm buying because of that. Right? Like, that's not going to happen. It's I much more of a story trailer, right? I try to build a thesis and a story and then, you know, weigh it in my brain and say, You know what? I think this is worth the risk. And that's how I execute a trade. But anyway, so this is one thing I try to do. And one thing I want to talk about is this core for right, it's what creates the ebb and flow of a stock, right? Like, what creates the ebb and flow? It's obviously the only thing that comes down to a supply and demand, but there's four elements to supply and demand, not to. There is added demand, added supply, and lack of demand and lack of supply. So when I'm trying to figure out, like, who's in who's out, what's caught, like, what's causing this to not continue? Like, why wouldn't like, why wouldn't why didn't this trade continue? Right? Was it because of added supply? Was it because of added supply? Like, it's, you know, when when a stock doesn't continue the upside, it's going to be one of two things. I did I try to categorize it in one of the, you know, it's obviously on the supply side. Sorry, it's, it's obviously on there's one demand and one supply. It's obviously going to be either an added supply, meaning, you know, supply just came in and and and blocked it, or it was a lack of demand. And as much as I hate level two, and I'll talk about this in another webinar, when I talk about this more, I'll do one more regards to level two. But this is one thing I look at is when I do look at level two, it's one of the few things you can kind of tell when a big seller just came in, or when it's starting to get like, one thing that I noticed is when stocks are, you know, they're kind of choppy, like when a stock comes up there, and you can kind of see demand falls, you know, when the bid drops, that's lack of demand, right? So I try to attribute the price action to either like when a stock doesn't continue to the upside, that's a lack of demand or added supply. It can be both, right? And I do try to say, Hey, it could be both. But that's how I'm trying to define it, right? Or like if a stock doesn't tank, right? That means that there is a lack of supply or added demand, someone stepped in and as a buyer. And that can get, and I think I first learned that that way, because I was short seller first, and you can kind of tell like, when a stock tanks, you know, when it runs into a buyer, when it's just, and you can see on level two, when orders are just hitting the bid, and it's just soaking, that's what they call soaking. Or when it tanks and there's just, it just kind of stalls and there's no continuation, that to me is a lot more like a lack of supply. Like nobody wanted to short it. And that gives me a little bit of information for my story. If a stock tank and nobody wanted to short it, that means that people are afraid to short it down here, right? Or people only want to cover down here, right? Nobody's looking short because people only want it higher or something like that. It shows me that there's fear of selling down here, right? When it stalls down here, or fear of buying when it's on the upside. And that is why I always bail on my, on my reclaim longs, and why I always tend to jump on these flash crashes, like if it tanks and flash crashes, or I'll try to be there longing it, like I did with that's kind of what the thesis was with stocks like to trade in ranges, and they like to trade from range to range. And this is literally how I separate stocks in my mind. And so for range break strategies, this might be a little review, but normally you don't want to get involved in consolidations. These are anticipation trades, and you want to get in on breaks, or on dips, or pops after breaks. And if you think about it, you are essentially now, if you're a range break trader and you're looking for a dip after like a stock breaks after the upside, and you're looking for a dip, you're essentially now a range holder of the new range. Now you're buying a break of your, your range, right? You're buying a break of your range. But if you're looking to buy a dip, once your range breaks, once range is broken, you are now, if you're buying a dip on it, you are now under like under the assumption that now you're in a new range. And this is how I categorize stocks. I categorize stocks into ranges. And I also, but like when I talk in the scaling webinar, I budget size per range too. But you're either a range break trader or range whole trader and on range break, you want to get in on the breaks or on the pops after the breaks, not when it's in the waiting time or in the decision making time or in the little eddy teeter time, right? And in range hold strategies, you normally, there are exceptions, right? Like in high risk situations where you don't want to wait for your range to prove itself, you want to trust your line and be there. And this is more like Bao's style of trading, right? He will be there at the line, trusting that his range is going to hold. And when he loses when he underestimates the range or when his range breaks. So that's why you see him stop out when ranges breaks. When his idea of the range breaks is when he stops out, but he doesn't wait for his range to prove itself most of the time. He does when it's high risk. Sometimes he lets a stock when he doesn't know where the top's going to be like everyone else. He'll let the stock go and he'll wait for the top to form and then it will fail. And then he'll put his order like he'll let a stock tank and then he'll put his order right here. You know, that's just but that's once he wait for the range to set itself, right? But normally, you know, you don't want to wait for the range to prove itself. You normally want to be first, right? Normally, like first resistance shorts, right? Remember the teeter totter? You don't want to chase your range, right? You don't want to let the bottom hit and then chase midrange, right? So what do they both have in common? You don't want to be trading in the mid range. Like as Bao says, this is 99% of the time. This is noise, right? And you want to, you know, in both strategies, normally when you're buying or shorting midrange, it's kind of like an anthem. And I get into that in this slide. Right? So when do I act? When do I act? Like how do I know if the timing is going to be correct? That's probably a question that you have. This ultimately comes down to a patience level. And the true answer is you don't know, you know, if your time is going to be correct or not. But let me break it down for you. The more patient you are, conservative, the longer you get to see the teeter totter play swing before acting, right? And thus, theoretically, you should be more correct, more accurate the times you do trade, right? But you're going to miss more. Put it this way. The person who can wait, like because the teeter totter gets leveraged, right? The person who can wait until the biggest teeter happens, then like they're, they're most likely going to win because they, they, they didn't get chopped out. They waited until they knew the time was to act. Whereas normally the longer the teeter totter plays, the more patient you can be, the more accurate you're going to be because each move, you know, like, like we talked about, like each time a stock test resistance or test support, more likely it's going to break, right? So think about buying a break out. But see, let's say it's stuffs again, and then comes back again. Now you buy it up, there's two stuffs, two stuffs recovered. I mean, how can you not lose? And if it happens a third time and comes up, really, how can you not lose if you can wait for the third time? Then no really nobody waits for that. Like you're going to be buying after that first stuff or even after the second one, you're not going to wait for the third one. Thanks for watching the video, everyone. 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