 everyone see and hear me all right, I know in the chat I'm going to give it maybe one to two minutes for everyone to kind of get in here and then we're going to start in the meantime while we're waiting for everyone to kind of get in here. What did you guys say today? Did you follow your rules? Did you do the right thing, the wrong thing? How can you approve? Also get questions ready for me for the so we can kind of review that together. There's some landscapers next to me they think I'm insane you know wearing shorts, flip flops and a giant selfie stick at 11 o'clock in the morning. Before I kind of get this started I kind of want to have everyone's opinion on what they think a YouTube live versus Instagram live. The way that we're going to kind of do this is I'm going to stick to YouTube live and Vau is going to stick to Instagram live and we're going to kind of get both platforms I want you know rather than sacrifice in it. So we're just waiting for people to kind of get in here and join and then we'll get started. Also there should be like a next to the subscribe button on YouTube there should be like a bell button so hit that bell button to know whenever I'm going live so I think you can get a notification for that. It's right next to the subscribe button somewhere. Can everyone hear me all right? It's seen me all right? It's up Doug. Okay sounds good, sounds good, looks good. Okay cool. Give it a minute and then I'm going to start. The topics I'm going to talk about today are tops trade, OPGN trade, I'm going to talk about LCI, I'm going to talk about the meetup that Vau is having tomorrow and then I'm going to talk about the meetup that I'm having in New York City the week after and I'm going to take anyone's questions that they have to. All right so I'm just going to kind of get this started. All the lay people kind of watch the replay but first things first is I want to kind of get all of this stuff out of the way. Number one, number one is today at 2 p.m. today at 2 p.m. market time Tosh is hosting a free webinar for everyone not only MIC members every single trader so at 2 p.m. we will tweet out the link to the webinar. Tosh will go over some strategies for new traders he'll walk you through MIC show you our video library show you some more content talk about our moderator phone calls and then he'll take questions from members so that's going to be every single Wednesday at 2 p.m. The next thing is tomorrow Vau is hosting a meetup in California. The information to that I'll put in the description of this replay video or if you're watching it live you go on twitter.com slash modern underscore rock you'll find all the information for his meetup tomorrow. The meetup tomorrow is open for members and non-members you know you could go talk trading meet your tab potentially hang out with Vau and then you know if you buy him a drink he'll buy drinks for the entire bar so that's a little secret about that and then I'll kind of talk about it more in detail next week but on September 14th I'm having a meetup in New York City again open to all I'll talk about that later to not kind of confuse the dates and stuff like that so Tosh webinar to Vau meetup tomorrow and I'm having a meetup next week so all right let's kind of walk you through my process right so what I like to do on these Instagram lives or YouTube lives is walk you through my process from the beginning of the day to when I am done trading for the day so that you could hear what I do for my trading specifically and you could take basically my process and try to mold it into your own process so yesterday's YouTube live I spoke about how I didn't get much sleep I spoke about the importance of recording your screens and watching yourself trade later like a professional athlete watches their footage right so just to kind of review on that a professional athlete watches their footage to improve right they see what they did right they see what they did wrong to try to fix it and make sure that everything goes well the next time as a professional trader you need to be doing the same you need to be recording your screens every single day you need to be reviewing the way you traded and pretty soon after you watch yourself over and over again you learn more about your good habits you learn more about your bad habits so that's number one so coming into today I knew that yesterday I didn't get much sleep so I made it my job today or my job last night to try to get as much sleep as possible I went and got Brazilian steak I filled myself up into a food coma and as soon as I was done eating I got home and I passed out and that's not a very healthy thing to do I don't suggest getting into a food coma from Brazilian steak but I was just desperate to get some sleep I just needed it right I just really really needed it and that's what I had to do so woke up this morning 6 a.m and I saw opgn on the scanner right I saw opgn running and the first thing's first is I looked at the float of the company so what I want to do let me walk you through also how I kind of research these companies how I research these stocks right so first things first is I look at the floor of the company I noticed that the float was less than a million I looked at the filings of the company didn't really see anything too crazy in the filings and then I looked at the chart I looked at where are the key resistance levels and how I can attack it and to me I have a rule of not shorting stocks under two million shares of float so immediately when I saw the float was that low I already had a sour taste in my mouth I didn't want to punch it I didn't want to play it I am not a long biased trader so I am not looking for a bounce on that stock I'm just done with it right so what I'm doing next is seeing what the low hangers are I'm looking at the stocks from previous day to see how they traded and how I can kind of attack that so I saw that LCI was a low hanging fruit it kind of washed out and broke down yesterday so any bounce today towards you know 1050 I had a plan to kind of short that bounce and the way that I'm kind of attacking these low hanging fruits these days is most of the time if I do not have my fantasy orders ready if I don't have my fantasy orders ready I personally will miss the trade so what I did today is I put out my fantasy orders on LCI your 1050 and I basically just waited for those to fill and as soon as it filled you know I made my money and I walked away so that was so we recapped right now OPGN was a nano float I avoided recapped LCI low hanging fruit I avoided also I am passing the house right now where the Aventador SVJ got stolen I'm just going to pass by it that's the gate that it got stolen from I don't want them to think I stole it some guy walking to the selfie stick anyway so those were the two trades and then you had tops pop up so tops for me is I've made almost over six figures on this stock in the past sorry holy fuck that was hauling ass anyway I've made over six figures on tops in the past couple of years when dries was kind of going crazy this stock was at sympathy play it's had multiple multiple reverse splits so I know the way that this stock trades and I kind of have a special place in my heart for it so what I know is that when this stock kind of turns it turns in a big way so for tops what I want to focus on was seeing how it reacted pre-market the stock went to almost $11 pre-market and then went all the way down to $8 in the morning I'm pretty sure so because the stock kind of already broke down because the stock already showed that the trend was kind of broken it was in my best interest to look for a bounce to kind of short this stock so I mentioned to the guys in the room I made a plan tomorrow I mean I made a plan and said that I'm looking to short a bounce near $9 so I did what I did on LCI I put my fantasy orders out 880, 890, 9, 905, 910 I put it all over I scattered all over the place right I scattered all over the place and the reason why I wanted 9 is because that was the level that was VWAP during pre-market that was kind of the main resistance level so it was the VWAP area was $9 and a whole number of resistance was $9 after already broke down to $8 so basically I had my orders there waiting and in the morning I nailed that trade I made about 1500 bucks on that trade and then that was in 10 minutes right I made that in 10 minutes 10-15 minutes and what a problem is for me is when I make money so quickly like that it kind of gives me a false sense of confidence it tells me that it kind of gets my ego going so what I like to do is anytime I make a decent amount of money within the first you know 15 to 20 minutes of the market I like to remember I like to mention to the guys in the room that it's time to scale down it's time to size down especially if you have made money already so let's say my max size was 5000 shares on tops if I already made 1500 bucks in the morning there's no reason that I should be risking that much again right there's no reason that I should be using that much size again so for me I told myself okay I'm only going to use 2000 shares if I want to reshort tops I'm only going to use 2000 shares and I lost money on the reshort right so I was wrong the second time I shorted it but instead of losing a thousand dollars if I had 5000 shares I only lost 400 bucks and that was because I used less size right I used less size I felt like making 1500 bucks wasn't enough money so I went back to the well but at least if I went back to the well it was with smaller size and that kind of kept me safe right so that was how I traded tops so I made money on tops I made money on LCI and I was very proud of the fact that I avoided OPGN on the short side I made a plan to short the death line on OPGN we identified the death line as nine dollars so I told myself you're not touching this shit until it's nine dollars and that's basically what I did never got to nine dollars never traded it never lost money never made money no problem so those were the kind of three main tickers in play today those were the kind of ones that I was really interested in and the thing is that the market is now kind of heating up again before we had maybe months of the market not moving but now we have something like OPGN that is a nano float that is going up almost a hundred percent right so it is more important than ever to stick to your rules and to be loyal to your rules because if not this is the type of market that would kill you right this is the type holy shit that's crazy house uh this is the type of market that would kill you right so for me personally uh it is more about refining my process every single day and giving me reasons as to why I should not trade stock rather than reasons I should be in the stock because the way that bow explains it is that if you go looking around for a trade you're going to go find it what I want to do is I want to find all the reasons that I shouldn't be taking the trade and then if those reasons are severe and extreme like a nano float that's on SSR that's on day one that's a red flag that's a that's a siren going off in my head saying don't be a dumbass don't touch the shit it is too freaking dangerous right it is too freaking dangerous so so that's kind of the main that those are kind of the main topics that I want to talk about today and then right before I started the instagram live or the youtube live uh james texted me so james is one of our moderators uh he is an incredible incredible trader uh so he kind of asked me a question he said you know how long did it take you to kind of recognize that you should be using fantasy orders and just attacking the lines rather than shorting based on anything else so for example if the line is 1050 on lci and he sees some resistance at 1035 you know he was like it's so hard not to take a start at 1035 when I know the line is at 1050 just in case it doesn't hit so he asked me what do you do to kind of mentally prep yourself uh from doing that and I told him a very simple answer I told him this I said after watching the way bow trades for a couple of years after watching him and reverse engineering what he does I learned this I learned that if bow waits for his lines and he only shorts his lines and he only attacks the areas that are of interest so for example 1050 is the level on lci or nine dollars is the level on tops what I learned is if bow waits for his lines there's a 90 chance that he's going to make money if bow does not wait for his lines and he gets emotional there's a 90 chance that he's going to lose money so it's just a game of probability if you know the line is 1050 on lci have your fantasy order at 1048 1051 1052 or whatever it is and just wait if it doesn't hit it doesn't hit but if it does hit there's probably a 90 chance that you're going to make money on that setup right same thing for tops if you if the line is nine dollars and you're shorting 8080 you're probably going to be the guy that stops out at nine dollars into my shorts so kind of use that as an example to remind you that hey if you just identify your line and put out your fantasy orders your fishing orders what other furus are calling wish orders these days uh you're going to be fine you're going to be fine the problems happen in trading when you do not make a plan the problems happen in trading when you trade based on emotion whatever there's a new ticker that pops up randomly in the middle of the day that's usually the ticker that most of us are going to lose money on because we didn't spend an hour planning for that trade we didn't spend an hour researching that trade the reason why battle loves what stocks halt is because it gives him five minutes to do his research and if he didn't do that before he would be all over the place right so trading is a process right there is a process to trading there's a routine for trading you have to look up the float look up the chart look up the filings look at the lines if a random stock is popping up in the middle of the day you don't have time to do all that stuff you just throw an order and you're probably going to lose on that right so again to recap to recap identify your lines identify your areas of interest put out your fantasy orders and if your orders hit you will make money if they do not hit and it goes to 1030 and it tanks so be it so be it are you trying to build long term trading habits or are you just trying to fucking show up and try to make some money because the reality is the only way you make money in the market is if you have a process that spits out money just by winging it or buying something on the high of the day scanner or nano pullback or an abcdefg xyz pattern is all bullshit it's all nonsense it's all nonsense trading is based on probabilities trading is based on technicals trading is based on fundamentals if you go looking for an xyz setup you'll find it if you go looking for a nano pullback you'll find it but if you have an area of interest like the 1050 line on lci which is resistance from the previous day so you're using previous days resistance to to uh to what's what's the word you're using previous days resistance to give you the ability to attack today at that same resistance spot if it goes if yesterday's resistance was 1050 and today it goes from $10 to 1050 there's an extremely high chance that 1050 is going to reject for the second time and those are the low hanging fruit steps those are the easy money setups so members today nailed lci right members they nailed lci because that was the main low hanging fruit of the day so if you just focus on low hanging fruit which is day two setups and focus on death lines you are if you have the best chance to become consistently profitable trader right your goal is to make the most amount of money with the least amount of stress possible and today you know i made a thousand dollars no stress bow made his couple thousand no stress he walked away he walked away and that was it man that was it that was it oh shit bow saying i'm giving away too much shit all right all right i'll go into q and a now i'll go into q and a but yeah this is this is the kind of the oh wait give me a second um this is a good question alex how do you deal with two or three days in a row not trading because your edge is not here very hard mentally as you see everyone else is making uh money blah blah blah okay so that's okay so that's a great question so being a full-time trader being a full-time trader does not mean that you have to trade full time what does that mean just because you show up to the market does not mean that you deserve to get paid doesn't mean that you deserve to get a paycheck the market is not like going to your day job just because you show up and clock in doesn't mean that you're automatically getting paid in the market if you show up and you clock in there's usually a higher probability that you're going to lose money right you're going to lose money so when you see other people when you see other people uh making money that's probably because that's where their edges their edges there if you are a long biased trader it was hard in the summer there was no real long trades but in the past few weeks there's been long trades everywhere so when your setups are there it is okay to take time off it is okay to spend time with your family it is okay to kind of just relax and back test and study and watch and do all these things but it is not okay to get out of your niche and trade shit that is not your setup just because you feel like the market owes you a paycheck that day because the market doesn't owe you shit it doesn't owe you anything so when the market is hot and your setups are there you better be damn sure you are mentally focused you are mentally ready to attack because if you exhaust all your mental capital while you're trying to trade random setups then you're doomed you're doomed let me kind of scroll back and read some of these questions uh just a quick reminder again tasha's webinar is at 2 p.m market time today we'll tweet out the link that is a great resource for brand new traders uh to walk you through at my sea um alex doesn't like sidewalks yeah the reason why i don't like sidewalks is because it's not flat and level the street is level so when i'm walking i don't want to be like going like this and that trying to wobble on the sidewalks street is flat i just like going on the street and if someone runs me over so be it um will there be a replay of tasha's webinar we will put the q and a aspect on youtube so what do you guys think of this youtube life so far we have 137 people in here so far that's great uh i love kind of doing this stuff the selfie stick looks literally insane if there was a mirror somewhere actually can i i don't think there's a mirror somewhere i would show you um so yeah i talked about bow's meetup in the beginning but i'll talk about it again uh bow if you could post uh the address for your meetup in the chat that'd be great but bow is having a meetup today in california it is one second open to members and non-members and the benefit of going to a meetup is this right number one is free so where else can you kind of go and meet a million dollar stock trader for free that is not trying to sell you a dvd that's number one that's literally number one number two is networking right so here's the thing about traders right here's the thing about traders some of the people that are getting into trading are the best doctors the best lawyers the best engineers in the world they are people that have money that are trying to make supplemental income or trying to make more money so when you come to these meetups you network with uh new network with some of the fucking smartest and best people in their industry right in their industry so it is only in your best interest to kind of come and meet these people because you all have one thing in common you guys are passionate as fuck about you guys are passionate as fuck about what you do you guys are passionate as fuck about trading it's the one equalizer that brings us all together is our love and passion for trading so if you are in the area if you are in the area go to the meetup hang out with us the information is on twitter at twitter.com slash modern rock yeah i have a meetup in new york coming up my birthday is in five days i have an announcement for my birthday and that's basically it i mean look i like to keep these youtube lives short and sweet i know that if it's kind of like an hour long people don't want chips so i'm kind of staying to the sweet spot about half an hour i mean that's basically it guys that's basically it so i'm going to take a couple more questions and then i'm going to kind of wrap this up um let me kind of go back to some of these questions i'm turning 25 alex last question how do you deal mentally with slow months periods with your ads specifically when do you so how do you often do you trade okay so here's the thing about the market it's not always going to be hot it's not always going to be crazy it's not always going to be nuts but you have to remember that the market moves in cycles there's going to be a cycle where shorts are in control and there's going to be a cycle where longs are in control so you have to just realize what type of cycle you're in and if you are a long biased trader in a cycle of short nailing everything that doesn't mean that you have to change your edge or that doesn't mean that your edge disappeared the market is in cycles and you just have to recognize that this is how the market kind of works we're going to do international meetup soon and right now we're basically we were in the market where longs are in control and we are going to slowly get into a market where shorts are in control you could tell if there's the way you tell who's in control or not is very simple if there's endless gap in craps if the stock is gap in 80% and taken all day you are in a market where shorts are in control if you get a stock as gap in 40% and runs an extra 40% that's where shorts are in I mean that's where longs are in control so yeah guys I'm going to stick doing these YouTube lives today was a fun one a lot of good knowledge in here uh that's what I say if you guys have any questions about uh me m-i-c bow uh you could hit us up on twitter or instagram the link is in the description um I don't think I have anything else to say that's basically it sign up before we raise our prices see you later guys