 There's a girl that was drowning. So I went down trying to save her and I almost died. I did not expect the story to go that way. Did you make it? No, I wasn't naked. What's going on, guys? We're here with another episode of the After Hours podcast. We have a very, very special guest today. I don't even think he needs an introduction. Joining us is Steven Dux, who is a bit of a legend in the small cap space. So thank you for coming on, Steven. Hello, guys. How are you guys doing? Good, man. So I know there's a trading podcast, and we're going to get into trading and questions like that. But Selvage, I have my own question, is I hear you're a bit of a car guy. So I wanted to know what your car collection looks like these days. Cars. Right now I have a S580 that the Mercedes has been. I have a Rolls-Royce. I think it's Ghost. Ghost, yeah. That is the one. And I also have a Koenigsegg, Regera. Used to have an SVJ, but sold that one, because that one was giving me headaches. Koenigsegg is the one that I'm most interested in. How did you end up deciding to get that car? Because that's like a multi-million dollar car. It's especially built. Christian Bonk, Koenigsegg, the whole thing. So how did you end up deciding to get that car? I always wanted to get one. I just, as I said, I need to make a multi-million dollar in one trade. Which trade paid for that car? Initially, it started with a D-Wack. That was a Trump car. Yeah. Well, it not inserted a Trump car, but it was. And that was, I think, close to $6 million, right? It was $6 million. Then the following day was $3 million. The following day was $4 million. So it was. Was that your biggest single one-day winner at D-Wack? I think so, yeah. At first, by the Koenigsegg, huh? It didn't count trade zero, though, because it was doing it with trade zero as well. So it was a little bit more than $6 million. That's incredible. How did it feel to not only have a trade like that, but to celebrate it with an unbelievable reward, which is a car? And second question is, how does the car drive? How is that? What's it like? The car has its special sound. It sounds like, I don't want to say ghost, because it has a ghost sign on the car. It has that weird noise. It sounds pretty good. Other than that, it's got two batteries. I think it was VVA. Two batteries and VA. I think it was 1,600 horsepower. Do you drive it off there, or do you drive the bends mostly like day to day or the rolls? Day to day, it's the rolls and the bends. I don't drive that car often, because it gives you. I mean, when you drive on the road, it brings too much attention. Some people get jealous. And some people, you know, it's. Everyone's trying to race you in a Honda Civic with an exhaust. I mean, yeah. And they won't let me switch lanes because they're trying to take pictures. And they're moving the same speed as me. So it's got pulled over once, because I couldn't get over the other lanes for the last second. You mentioned that people get jealous. Have you had bad experiences with people, or do you just think that? Or is that something that kind of happened? I think the first car I bought was the McLaren. And it was parked near by the street. And somebody got jealous and got out of this. I don't think it's a pen, so I think it's a pen. And it scratched through the entire door. And that's the first time. That was the first time you killed a man. That was the first time the car got scratched, but it's the same. It's very impressive what you do when you're a trading man. Because I feel like you're one of those type of guys that when the opportunity is there, you'll strike. And aside from that, you'll just wait. So how do you personally handle the FOMO of waiting for those setups? And kind of on that turn, how do you have that confidence to pull a $6 million trade out of the bag? I would say to be honest, everybody is struggling without waiting games, especially in last year and this year. I think last year we had like five months of nothing other than bigger caps. So what I used to do is I track a setup that I wanted to trade, and specifically how many times it happened throughout the year. And each time, what's my winning percentage? How much I'm likely to gain? How much I'm likely to lose? And you can kind of get a rough estimate to see that this is how much you are going to make by the end of the year. So once you know the numbers, you are much more patient than other traders that can't wait for an opportunity and they start forcing trades. So a lot of people. I'll go for it, Chuck. A lot of people, tracking trades, it's a common thing that we've all kind of been around, heard about, talked about doing. A lot of people do it. I myself have done it. I know James has done it. I know Harry's done it. Alex, he just catalogs everything inside of his fucking photographic memory. So but what is it about your tracking that allows you to have such confidence in it? What do you think you do differently? Or what is it about that data that when you're looking at it, you go, yes, I have to go big? With high risk. First of all, it's the winning percentage of the pattern. So after you track a couple thousand tickers altogether, you'll kind of know what's the winning percentage, what's likely to happen. And it's not just the tracking of the data. Sometimes I record the moment of the stock tends to shift its momentum. It's a breaks down or breaks out. Then you can't remember or try to memorize that level too. So you can kind of get a feeling of when the stock is about to break down or break out. Typically with how much size I'm likely to go in, it usually starts with minimizer risk. So whenever you are, let's say you want to short a stock and not just by focusing on your own risk, you also want to look at the chart that to think what's the top short setters likely to take an entry on. And most of them are likely to minimize their risk almost to zero. So whenever you are shorting a stock and if there is a specific resistance where there's pre-market resistance and they want to minimize their risk up to zero or there's an intraday parabolic, they always wanted to sizing into a push and that's when you see a massive stuff into one candle and that's where momentum tends to shift. And whenever you are finding that point, I call it zero point. So if you find that point and you can get in with pretty big size with a little bit of risk, that's where I started to pouting up my size. Once I get the first pullback or as soon as I go in and when it pulls back about 15% the momentum tends to shift, I will cover decent amount of my size to get some of the gains. Then I will start adding the bounces. This way I will have a little bit of cushion of playing throughout the day. And that's where the profit tends to grow in snowball. It's unbelievable. I think that's like, is it hard for you then when you have the opportunity to short with such size like a D-wack or something like that, then day to day, has it become almost not enjoyable for you? I know it's still making money every day, but you can't quite obviously use the same size day to day, so how does that work for you? Yeah, not the same size, but I don't really use the same size on every single ticker. I track patterns specifically and categorize them into different sections. For example, like lower floats with lower cap, market cap, and when they are trading specific volume, you can kind of calculate. Well, first of all, you do not want to exceed 10% of the float, 1% of the volume. That's a rule that I typically play throughout the day. And once you don't exceed that number, then once you trade it for a decent amount of time, you will kind of find out, especially going into intraday patterns, not multi-day runners, but intraday, a low float can only sometimes handle 500,000 positions, 600,000 positions. If you go more than that, first of all, you are taking too many shares. Once you go over 10% of the float, you are going to affect the price. And to be able to exit into stock, you are basically pushing up the bid in such a large range, then you cannot get out at the point that you wanted. So with different patterns, you have to know that first of all, what's the max size you can go in before you cannot get out at the point that you wanted. That's for intraday patterns. Then if you go into multi-day patterns, then you kind of have to go through all that data again to see what's the maximum size you can go in and have those. Most of the time, I have those sides figured out already. So let's say I go into intraday pattern, and I look at this ticker, check out the float, check out the market cap, check out the volume. I will know that, OK, well, 600K is about the max I can size in. Then if I win, I will probably make up to 100K to 150K Did you learn that early on that did you ever make that mistake? Did you ever take too much size according to the float and just really put yourself in a bad spot, or is this something you knew from the beginning if you were able to do? I definitely made mistakes before. Yes, I have taken, I would say, 15% of the float. And yeah, it was not very good. I think I took like 40% losses on it. I was trying to get out with only 15% risk, and after I completely got out, it took like 43% losses. Do you ever swing these positions short, multi-day? For example, it doesn't have to be D-Wack, but any of these stocks that you're shorting, OK, you've locked in 100K, 200K, you still keep maybe 50K shares, 100K shares for two, three, four days more, or are you mostly like, you know what, let me get out, let me sleep well, and I'll just hit it again in the morning. I keep it, so I only hold positions maximum one day, so just one night and covering the next day. Typically, with those swing positions going into multi-days, I will cover about 75% of my size. And if the ticker trades crowded in a volume, typically there's a balance coming in the next day. So I keep that 25% at main needs for the average, so I can add in the second day, make sure that my average is really high and I'm going to stay positive throughout the day. So once your average is pretty high, you are not, in terms of your entry and exit, you will probably not get nervous when the stock is bouncing in the second day. Yeah, maybe we can kind of switch gears a little bit and talk about the recent sector that we had, AI. Did you trade any AI tickers? Did you trade any China tickers? Maybe you can kind of talk about that. Maybe you didn't trade any at all? I traded all of them, so... Maybe you traded all of them. I mean, it's been a pretty exciting, I don't know, the last two months, starting... I mean, the AI wasn't as crazy as the last one, TOP, yeah. So for the AI sector, I think I took, I think the biggest loss I took was CXAI on the bounce, not on the first initial round, I think it topped around 70, consolidated around 15-ish. Then I think it was on that green day, right there. Yeah, right there, that's the loss I took because the resistance range is so wide. That's where I was taking paper cuts little by little, little by little. I think that was 140K losses. I think that's the loss I took specifically to the AI sector. Consider that resistance range to be like 13 to like 20, or would you consider it to be a little bit higher? 15-ish, I think. 15-ish, you'd consider that to be more so, kind of the resistance. Yeah, it topped around 10, 11, three times. So I shorted it on the third time when it was panicking. You zoom in, and when it reversed, that's where I caught my losses, so. This was after the first initial run. On the initial run of CXAI, when GFAI, SAI, all these crazy stocks were going, were you attacking during that time as well? No, I know, I did not attack it. I knew that this is the first sector that everybody wants to get their hands on, because typically when you have a long period of time of nothing, and a lot of people tends to go very aggressive on the stickers. So I think I attacked it on the backside for GFAI. I think I made 300, 400 on the backside. That's pretty good. This is a bit of a psychology question, but from someone like you who has had such success on shorting D-WACC and other sectors, how do you keep yourself from getting overexcited on the way up? Because you obviously, you were very patient on the way up, and then when you hit it on that bounce day, how do you not force yourself to taking on too much risk too fast? Because you seem to do really well at risk management, and keeping your losses really small compared to your wins. And I think it's impressive, but how do you keep your mental state when the trade is actually happening? Okay, so there's one thing that I typically keep in track of is I split market cap and flow into different sections. So let's say if the ticker started with under 100 million market cap, and then once it did its multi-day round, you track on the top of the candle to see typically on the highest day volume, it is the top. So you can kind of track how much money was traded in that top of the candle. Then after that, you can use that as reference to trade pretty much all of the multi-day runners in the same sections. So if the initial market cap is under 100 million, let's say the top of the candle, traded 30 million shares, around 50 shares, and that's 1.5 billion in terms of dollar amount. Then you can use that dollar amount to calculate if the multi-day runner tends to finish its round for the day, or he still has continuous volume that's going to come in on the second day. So let's say today, so the number we got is 1.5 billion, and today only traded maybe 500 million, 700 million. So there's a high chance that the ticker is likely to go up another day. And once you know that, you'll be pretty patient the way. So you're very data-driven. You're really looking at the stats, you're looking at the data, you're making sure that you understand if it fits the criteria, if it doesn't fit the criteria. That's, it's really key because I feel like a lot of people in trading, they just think like, hey, you show up, you buy the stock, you short the stock, and it's gonna go up, maybe it's gonna go down, but you are very data-driven to be able to say, hey, you know what? I've seen this pattern occur 1,000 times, there's a 90% win rate, I know that the float is X, so that means that my size is Y, and based on the win rate that I've had in the past, I could do this. So I think that that's very helpful to a lot of people to understand that you're treating this very professionally. You're not waking up and winging it, you're not just gambling, rolling the dice, you are treating it very, very, very high level professionally. But you know, it's whenever, even though I do data up to the extreme, I still make mistakes. So I can't imagine people don't do data, how many mistakes they do. Yeah, going into like, going to TOP, especially in the last two weeks ago. TOP, I was talking to the owners of different brokerage. There's a firework blowing up for different accounts. I think a lot of people went negative equities on the sticker. That is crazy, Chard. Yeah, and I think I personally took, I think it was 200K, not 200K, 140K. So 140K on the first day, not on that day, the previous day. So after I was in there. Yeah, so I showed it into the consolidations around, I think it was around 20, at 19, after I didn't break down, that's where I covered it by the end of the day. So that last candle is where I exited. My size was pretty big. So I think it was, I think I had like 70K shares. And that's where I- Are you pushing it up after hours? No, no, no, no, no, no. I exited right before the market closed, and that's where I wanted to go long. And I had my hands on the trigger, I didn't pull it. If you went long, you wouldn't have retired, bro. I probably won't catch the top, to be honest. I probably exited around 30 and leave a little bit of size and goes all the way up to like 200, very little size. Yeah, so this candle had 125,000, so ducks was like 60% of that candle. Yeah, that's me right there. Hey, duck, right here, that's ducks, yeah. How do you deal with those losing days? Like what do you do to release stress? Because trading could be very stressful. Like the good days are never as good as the bad days are bad. So I feel like at least in the high level trading, when you're talking about six, seven figures, maybe even eight figures, there's gonna be some really bad days that come along. So how do you personally release stress? How do you manage stress? Any advice for people that are stressed in their trading? I mean, I get stressed and I, if I get a bad trade, I go take a walk, wanna go to the gym, do some meditations, you know, whatever works for you. Drive a 1600 horsepower car. Yeah. Yeah, see some of these things aren't available to us peasants, but I get it. But you know, see the hardest part to relieve, for stress, I think in this almost like nine years of trading is to actually face your own mistake. A lot of people that when they made a bad trade, they don't want to, you know, go back to their trade or they don't want to go back and look at their counseling of what, you know, stupid things they did while they're placed in their entry and exit. The hardest part is for me to like actually admit that I made a mistake, not finding excuses of, oh yeah, the stock is manipulated, the stock is this or whatever, you know. When the stock is always going to be manipulated and it's up to you to manage your own risk, you can do whatever to, you know, you can even do counter strategies against those people that are trying to manipulate stock. So it's, when you take a loss and the mistake is on you, it's not on other people. And other people tend to find excuses, yeah. So you talked about being a trader now for nearly nine years. I don't know if you remember that, I'm sure you do remember this, but back in the day of profitly, there was this guy that I recognized that had a picture of the Hulk. And he was just quietly making better trades after better trades, after better trades. And then it turns out it was this guy named Stephen Dux. And I was like, what the hell is this? So what was it during those times that allowed you to gain such consistency? What did you do in the beginning? And then when you figured that out, how did you stick to it? So the one, I think the timing that I finally clicked it was, I went back and looked through all my trades and I was able to distinguish which one is, which trades is necessary to place, even though it's a loss, which trade is considered to be an over trade. And once I filtered out all the losses of the gains that's the opportunity to have to place an entry and exit and get rid of all of the over trading and what is considered not to be tradable, then I recalculate the profit. And you know what? It's about 10 times higher than the ones I have right now. So that's where I just stopped completely on over trading, filtered out all of the trades that does not filter the criteria and only stick to the trades that I know which losses it's, when I take a loss on the trade, I know if it's necessary or not. And some of the losses are unavoidable because it's resizing into 80% and winning percentage and it just happened to hit a 20%. It's that type of losses are not avoidable but it's manageable. As long as it's under your risk management, they're okay with that. And you know, a long run without over trading, fitting your criteria and I know you are always going to take losses. As long as you know, it's under your risk management and always it should be fine. You know, trading career. I think you kind of mentioned at the start like the past two years, obviously, haven't been as ideal than the couple before them. And maybe you can kind of talk about like what setups are working right now and like what types of, you know, things are working for you and this kind of environment. Okay, so there's two things I found out. I just personally, my own opinion have to observing in the last two years. First of all is trading become, definitely became more competitive than usual compared to 2021. So it's a lot harder for short sellers to, I would say to, you know, actually make money compared to 2021. And there is a long term, there's a long period of time that there's completely nothing and every single person, even me, got a little bit, you know, formal because I wanna place a trade. There's basically nothing to make money on. So I think was last year, August, then we had BBVI after that, it's pretty much, there's pretty much nothing. So the volume in the market is more as it contains or concentrated in one place. And whenever there's a ticker that came in, it's HKD or BBVI, all the volume sounding concentrated altogether. But on the intraday volume, it's been declining in the last two years consistently. So what I tracked that in 2021, 2020, the intraday maximum dollar can be traded is up to 1 billion. Then going into February, it would become 700 million. May or June becomes 500 million. The lowest we actually got is actually 250 million. So in terms of intraday volume, we dropped intraday dollar amount in traded, we dropped 75% compared to 2021. So what do you think that contributed to? Do you think it's people that are just losing all their money because they were apes on AMC and GME or hodling on to everything or what exactly is it? It's the raising interest, man. Everybody be putting their money up on the raising interest. They're getting more financial pressures than usual so they don't have enough money to trade. That's what I think. And whenever there's something come up and usually it's the first one or two trade after a long period of time of nothing, there's a really intense squeeze. HKD went up to 2,600 and it appeared up to 200. And usually the edge comes right after that. So either there's a sympathy play because MEGL going to the second day, shorting against the pre-market resistance. Yeah, that's typically where the edge is. And after that, it depends on what I typically viewing is short sellers typically has a lot more money than the buyers. So whenever there's a big squeezer coming in, the shorts get squeezed. So it's the short sellers deposit money into the buyer's bank account and the buyer's gonna use them to do it again because they think they can pull off another TOP. So then the short sellers go in to get their money back. See, this is what happens in the last eight years. It has not changed at all. So the only problem is as a short sellers for you to distinguish compared to other people is you don't screw up on the first run and you will be able to pull money after the stock produces edges and be patient enough to catch the edge after the stock finishes squeezing. Even though sometimes you can completely avoid although when the TOP is going up to 200 or HKD, you just don't touch it and just wait because you know short sellers screwed up and the buyers will come back for more. So that's where you can make your money up. That's where typically I make most of my money. That's really interesting. Brilliant, brilliant. But how did you do on the Detroit ASNS? ASNS. The one yesterday? Yeah. Oh yeah, yeah, I made 140. No, 210, 210, yeah, 210. Nice. So that's sort of kind of the explanation that you were talking about. You let TOP run and then you wait for those other little ones like you were saying MEGL which tries to turn into the next TOP. And then for example, with ASNS was one of those where you had MINM and all of those other ones go on Wild and you waited for this bounce play on ASNS. So on these bounce plays and the lower volume, how are you adapting to that? Okay, so there's one rule that I kind of track those, we call this hype top play. So we have a bunch of those like the marijuana sector back in 2018, the shipping DRYS, shipping sector and all the HKD Bitcoin and all those Chinese stocks. One thing that, especially during those hyped up sector, you want the first round to trade enough volume before you're going on the second bounce. So if on the first day, on that first round, it did not trade enough volume, you have to wait some type of consolidations or fake out for the second bounce. If there is actual volume traded and there's consolidations, yeah, go ahead and go ahead and hammer that size in. But if it's without volume, if it's under 10 million micro flow and it does, I think it was the ticker, it's just the full parabolic and 90% drop. So there's no actual entry for you to take. That's the chart you have to wait for fake out of consolidations to be able to make money on. Steven, does it ever stress you out as we were talking about how the market's changing a lot now as a lot less participants in volume? Does it ever stress you out or like concern or worry you at all that like, eventually some of these setups won't work? Do you continuously track new setups or is this something you feel like generally over the course of your lifetime will always kind of happen? Of what, and you know, the market's always changing. Sometimes it annoys me too. Like, one today, what was the ticker called? What was today, Carvana? No, not Carvana. The one went up with WAL. Back W. Oh yeah, yeah. If you go, if you go back to that chart and you PAC, yeah, PAC though, yeah. PACW? Yeah, sir. So if you go back to that chart and you compare it with the chart FRC, it looked exactly the same on the second day and it triple topped. So FRC triple topped at 50 and data consolidation went down. And I think that's where I shorted it. Today, it's same exactly consolidation triple top at five and that's where I pulled my size. That's where I went in, I think it was around five. When it broke that, you know, that took a loss. I mean, there's nothing you can do because you have to manage your risk. First top, second top, and the third one on that red candle, that's where I sized in and soon as I reversed, I just covered and went all the way up to six. So I think one thing that's still in the market is whenever the stock is on parabolic, never try to size in into the parabolic and stock is crowded. So let's say before 10, 30, already traded 40 million shares, 40, 50 million shares. So going to the rest of the day, it's going to trade the more than 100 million shares. Where is that 60 million shares, rest of the 60 million shares gonna go? You know, when this stock is trading not crowded and no matter how good you are as a short setters, you won't know how far this thing can go. So typically whenever you're seeing two similar chart, you want to size in at the same place, and but it breaks your risk, you have to take the loss. So that's for PACW today, yeah. Are there any traders that you kind of like learned a lot from or were able to kind of like piggyback off of when you were first starting? Like, I know somewhere I saw like that, like you and Tim Grittani are friends, you've talked with him before. Did you ever like kind of learn anything from him or was most of your stuff just yourself like just tracking? Yeah, I would say most of my stuff is self tracking. I talk to Tim all the time. We've been friends for a couple of years now and we also live in the same place back in when I was in Ohio, he lives in Columbus, I live in Cincinnati. And we talk about trading all the time. And sometimes I get what he is thinking sometimes, you know, I kind of take off his ideas and to think, okay, well, does it fit the trading logic or not if it doesn't fit, then it's between if it's the trading logic and if it's something I don't understand, then I will ask him and he will explain what he's thinking process. So can we, go ahead, Harry. He's mostly kind of like a long, well, now he's doing like a lot of longs and you're mostly like a lot of short. So like when he talks to you, are you like, yeah, I understand that. I get kind of like multi-day breakout setup or are you more like, this confuses the hell out of me? It doesn't confuse me because when he gets in, he gets in, you know, for example, CXAI gets in like one, one, one daughter or something. So, you know, I mean, that's the point I would definitely not short. And so typically, you know, he will ask me, hey, Ducks, where are you going to short? And I'll tell him this, right? So he doesn't even care to sell. And then that's where he sells. I don't know where do you think this can go? I would just give him a minute. That's awesome. So can we take a look at this ASNS real quick? Just to kind of review here, I think this was, or not ASNS, M-I-N-M, this was that bounce situation you were mentioning. And how you were talking about how you don't touch any of these things unless they trade at least 10 million volume. So if we take a look here at M-I-N-M, this was one of the China plays that was running with everything. And this was one that actually traded over that 10 million number. Whereas if we look at ASNS, it was two million and it had the ability to break that high. So what you're kind of getting at here is that if it traded more than 10 million shares, the chances that there are still people that are bagged up top, once this finally bounces, you're saying basically that this volume isn't going to be able to overpower the bag holders. Am I understanding that correctly? Beautiful. Yes. There's a high chance that entry to the run will not beat the bag holders on the first round. It'll start hitting all of that where everything crashed off and that'll turn into all the resistance that you're playing off of. Yeah, yeah. So how do you sit there and wait for that opportunity? You just toss some orders out there and just go, well, we'll see. There's video numbers. No, no, no, no. I never toss orders over there. I think you just triggered him, Joe. So go ahead, look at the chart. If you go into entry day on the second round. Uh-huh. So on that first spike, you see there is no consolidations and on that top, what's the reason we're shorting there? You know, your risk compared to the resistance. Go ahead, look at the resistance. Probably not so far from where the parabolic is. Right. You got it, yeah. You're talking at least eight before it ever hits any kind of the first consolidation whatsoever. I mean, the way I look at it on the first round, there's no consolidation. Gotcha. Yeah. So first of all, the first top, it doesn't have any type of reason for it to short because there's no risk for it to manage. Then going to the second breakout, up to eight. Still, there's no type of consolidations for it to manage until it consolidates. It's not consolidated between that six to seven. And that's where you're supposed to find your entry just as in risking the top of that eight. Typically, I risk the 75% of the consolidation range. So it's between, I think it's around six to six to eight. So the range of that, so the 75% which is probably around 750, 750 area, the 75% of the consolidation range. Oh yeah, so it's a $2 range, right? And so 75% of that would put it at 750. Yeah. Yeah, yeah, yeah, yeah, yeah. And then you risk, you're aiming to enter around that 750. No, that's my risk. I'm probably gonna enter between, I think, 670, 650. Gotcha. Okay, awesome. That's amazing. Steve, I have a question for you. So you just listening to you talk about trading, maybe you're obviously a freaking savant and a hundred times smarter than I am, but so you get so involved and so in depth in your setups and your strategies and everything. Do you do that outside of the market with other investments? Like are there other things that you try to put money into and like, do you get as analytical about those things as well? Or is it really just trading that kind of gets your brain kind of like how it is now? Are video games like there's something like this for you? Starcraft is very similar. Starcraft. Yeah, I played all of Starcraft and it's about guessing what people are doing, you know? And it's very similar. You have to kind of guess where the back order is. You have to know that, you know where the short side is. What level will make them nervous? And that's typically where the short squeeze is. And knowing where the buyer is, you know what level will get them nervous to sell. You know where the short side is, you know what level where, you know, they were likely to cover their position to get nervous. So all these has to be combined with your strategy. You know, it has to be data driven, but by observing the market, you will have an idea of the buyers and sellers is and user data. And typically when those, one psychology, one pattern, when they are leaning towards the same direction, that's when the pattern has the highest winning percentage. So what did you do to practice to get so good at that kind of that level of intuition? Did you just like sit outside a Walmart and just walk in and out and just predict what they're gonna buy? I mean, everybody behaves, I would say the same. So, you know, imagine yourself and started trading, you know, at the very beginning state as a beginner and whatever you are thinking as a beginner is typically where the buyer or the short side is. So what do you think somebody could do to improve that skill? What could a person do to get better at that? First of all, you have to survive because most people get blew out of market within the first year. So you have to, I think the only way I found out to survive in the first two years is focus on one thing that you know. Don't touch anything that you don't know. Yeah. And until you grow enough capitals and that's where you can spread around and find different strategies and make sure break apart your account into multiple different, you know, let's say you have a 50K account, you have six backup accounts. So if you blew up one account, you will have a second account ready to go. And that's the part, that's the, I would say, essential part, especially for beginners, you know, to make sure you are, stay alive in a smart gate as long as it gets. The longer you stay, the better you will get. So, no, no, never try to make your money in a wide shot. It's about experience, yeah. Take it back to what James said earlier. You make all this money trading. Do you have any investments outside the market, real estate, indexes, venture capital? How do you manage your money outside the market or do you have it in your trading account? Have it in real estate, making passive income, rental properties, yeah. So you just focus on rental properties, you don't put anything into like Apple or Amazon, anything like that? No, because, you know, it's very easy to mix up with your trading mindset. I'm gonna, you know, when we're doing day trading, it's all short-term, short-term, you know, whenever you are looking at a ticker for a two month, it kind of confuses you. So, and typically, you know, when you take a position in Apple, when you take a position in Amazon, you know, as a trader, you definitely want to look at your positions and you share board. So I might as well just invest in something else. I mean, it's all slow, so. When you're looking to short into, let's say, let's say the chart that we just looked at before, on that kind of resistance, are you ever paying attention to the view app on that day, saying like, okay, I think that this is where the average price of the bag holder could be and I want to kind of like look to short around there or do you just not pay attention to that at all? Oh, no, view app doesn't work. I mean. Docs is like, shots fired, shots fired, here we go. View app works when there is concentrated volume on consolidations. View app does not work when there's fully per bag up and down. So there's conditions when you have works, yeah. So I see people on Twitter talking about this all the time and it's like, oh, well, we used view app from the prior days resistance to top take this. You know, I see that all the time on Twitter and I was just wondering if that's something that you kind of saw. I mean, a lot of people are a little bit obsessed with the indicators, you know? I mean, it's, if you think about the market or, you know, from the very, I would say, fundamental as a very base level. First of all, people are placing trades and, you know, when the chart moves, it's what people are, people are placing trades behind the computer. And it's all about what they're thinking, how to really counter them. So show us there's mixed money from the buyers and they have to know the psychology behind the buyers and indicators like RSI or view app, they don't have any, I would say, direct relationship with, you know, how much, how many shares do you aspire by and if they get caught back holding, what's the level that are likely to sell? I mean, those indicators doesn't have the direct relation compared to those technologies. So the only thing, indicators that I use, volume, typically volume indicates how many people are buying and selling and if you are using, you know, the average statistics and 90% people are going long, then you can kind of calculate, okay, well, at this level, there's, you know, this amount of backholders and when it hits to this resistance, the buyers will not beat the backholders right here because, you know, on this candle's volume, it's there's not enough buyers. And when there's 10 backholders versus eight buyers, the backholders of course going to win. So I'm a short seller and I'm likely to take advantage of, you know, the new buyers are likely to lose. That's how resistance work. So it's, yeah, that's the, though those are the only indicators that I use. And also one thing I want also track is, I think it just my assumption. So into like four different multi-developers and of course stock involves, you know, stipulations and hedge funds. But from my assumption is, at least smart money, whenever you are buying, let's say a low flow, and you do not want to exceed 100%, you do want to buy up the entire flow. Sometimes it does happen, but- AWX? Yeah, AWX, yeah, yeah. But, you know, as smart money, you do not want to buy up the entire flow because whenever you're selling, you're just playing yourself because you're selling it to yourself. So, you know, as a smart money, you want to sell it to other people, right? And you make that, you know, make the money while the stock is going up. So typically you do not want to exceed 30% or 50% of the flow because you want to leave the rest of the flow to other buyers for you to make money from. So then, of the specific psychology applies into the multi-day runner, then there's going to be a limitation of how many dollars can be traded in different market caps. So if smart money can only, you know, apply 30% of the flow and there's retail money going in, then you can kind of, once you look at different multi-day runners, you can calculate, okay, well, between 100 million or to 500 million market cap and when the stock goes fully parabolic, when it consolidates, this is maximum amount of money can be traded in a consolidation. Once it trades in a certain amount and retail runs out of money, so no more money can be supported a bit or no more money can be add into the ticker for the ticker to go up even more and then that's where the chart exhausts and that's where you short and take your profit. I just have just one more question real quick about filings, SEC filings, because we never really talked about that yet. And do you ever kind of, like I know you're more of like kind of a pattern guide, but do you ever read the filings and kind of put on your tinfoil hat and say, okay, maybe they're trying to pump this up to do an offering or, okay, maybe they're trying to pump this to get to these warrants and then like maybe look to short there or are you just pure pattern volume, don't care what's going on, don't care about offering or whatever, I'm just going to focus on what I know. I have actually looked into those filing before. It actually affected my, I would say judgment whenever I'm trading because I think there's few times where there's warrants around four and there's consolidations at four and people think the warrants is going off and then selling it to stop at four dollar and other people packed in shorting at four. Next day stock gaps up to 12. So I think it's all about risk management and focus on what you know because there's a lot of stuff that you don't know and you can potentially, you can't even trade anything in the market to sometimes you're lucky to make money so just trade what you know and you will make that was easy. Make a killing. Make a killing, yeah. All right, man. So to ramp up here, we want to talk about some regular guy questions, okay? These have nothing to do with trading at all. This is just us getting to know Steven Ducks, man, just to show how much of a regular guy he is outside of his genius level mindset. So number one, what was your first job? First job, I worked at a dorm. I think it was, I think it was a midnight shift. So it's between 12 a.m. to like 7 a.m. To check people in on the dorm, yeah. Oh, wow. It's like six dollars an hour. He's come a long way, fellas. So what was your favorite hobby? What is your favorite hobby outside of trading? Favorite hobby? I play tennis. Play a little bit of basketball. Play a lot of video games. League of Legends, Counter-Strike, whatever you name it. Awesome. So what, are you reading any books? What's your favorite books lately? I don't really read trading related books. It is like our lowest answered question. I don't mean reading related. I just mean any books. What's your favorite? I read, I remember recently I'm reading Cas9 genetic editing, gene editing, yeah. Wow. Ooh. That sounds yummy. And yeah, I read quantum physics all day. There's one thing that I like to read that I would say semi-connected to stock is what's it called? The psychology of economic behavior. It's not a book, it's a genre, but it basically talks about the psychology how people use their money. Oh, oh. Yeah. So what's your favorite TV show? What do you like to watch? I do not watch TV, I watch a lot of anime. I watch, what's it called? I watch Naruto. Dragon Ball Z? No, I watched a little bit of Dragon Ball Z, but yeah, but I watched Dragon Ball Z. We gotta get you to know that. What else? Yeah, I watched a lot of anime. Too many. Yeah, me and you. What's your favorite foodie? Favorite food? I mean, I like all kinds of food. I'm not really picky. It's just I can't handle blue cheese. That's some, that's cool, yeah, that's cool. Yeah, what's the most memorable vacation you've taken? Memorable vacation. In what, I think there's a girl that was drowning. Oh, nevermind. I went down trying to save her and I almost died. Trying to swim. I did not expect the story to go that long. I heard them all deems. Yeah, trying to swim back. Yeah, it was, I was culling it close, but. Wow. Did she make it? No, I wasn't naked. I had, you know, had to. No, no, no, did she make it? Did she, no. No, did she make it? Yeah, she made it, she made it. What? No, oh my God. That's how we're gonna start the podcast. What's she making? I'm sorry, I'm totally off track. I don't have, sorry, what? You are? That's cool. That's funny. Where was I at? Oh my God. Well, I think that's pretty much all I've got for you right here. I think that's a great rap right there. That's awesome. Thanks for coming on to see it. It was awesome to do it. Thank you, dude. Thank you so much for being here, man. All right guys, I've gotta go eat, so. Yeah, bro. Thanks for having me. No problem, thanks for coming. No blue cheese. No blue cheese. No blue cheese, yeah. Keep your clothes on when you swim. Be clothed. See you guys. See ya. Later.