 Hey traders, this is Tosh I go by T Bradley 90 in the my investing club chat a general reminder for those who do not know MIC is having a one-year anniversary event where bow is going to be trading live in front of our members It's coming up August 17th mark your calendars as an added benefit for our members The event is 100% and exclusively free for annual and lifetime members While lifetime on top of that get extra coaching before the event and guaranteed front-row seating While most charged for these events We show our support by making it again free for annual and lifetime members if you are interested in signing up for this event DM T Bradley 90 in MIC slack chat and or email myself at Tosh at my invest in club calm Now we have a very special video for you guys today as Austin who goes by a loha trader in MIC chat who is both long and short does a weekly Thursday webinar series and this week is episode 6 and he's going to talk about key trades of MLNT market sentiment currently and MIC strategies and while today is just a preview of the full-length video if you want to watch the full-length or any of our Exclusive content that become an MIC member look like I used to hate the word edge because As a trader because what is an edge right like you're trading with edge like the markets hard at like How do you define an edge and the way I define an edges anything that you have over another trader, right? Anything that you anything that you are better at than somebody else basically you have an advantage against other people and we're going to get into it near the end So they'll preview All right, so today I'm going to go over some of the key trades of the week again I'm scraping the barrel for these in summertime. It's what's cool is though about this and we're getting a little bit each week As far as plays is And I'm hoping that continues because that that can make summer durable So and we're going to go over weekly market sentiment a couple trader topics I've been getting a lot of questions on that I want to shed some light on and And Then we're going to do the trading center and then we're going to end with Q&A So get your questions ready if you guys you can start asking them now I'm going to go back and slack and and go through all of them and Yeah, let's get to it So key trade so I do know I did a if you haven't seen I did a full-on Video recap going over my ML entry MLNT trade yesterday and It's I really like it because I actually learned something from the trade. Well From from this trade like I haven't like Learned something like that like a eureka moment in a very long time So it was kind of fun for me because and it wasn't really I learned something but I more of confirmed something in my mind, right? so, you know and I'll go over it but One thing to take note before I get into the trade is that MLNT never broke trend right like even from pre-market It just kind of held this steady trend all day And so I was shorting it on day one fighting the tram and I was doing my best But just to keep in mind this this didn't break trend to like the end of the day So this is something that I was keeping an eye on all day and why I was really quick to cut Anyway, so MLNT. This was my trade. I did the recap on it. So I'll make this one pretty fast I was able to get the tops most of the times Like I was able to identify the tops here here here and here. That's what was pretty good But there was a snow continuation, right? We didn't roll we didn't roll over here Which you know when that jobs going for here We didn't roll over here which which is what the recycles were all about we didn't roll over here, right? And like we didn't we didn't we didn't go like we finally did crack But still there was no roll over yesterday. Just the trend was just too strong all day recap So and then today I had a nice ML I had a nice day, too. I had a nice day to trade on MLNT today and after my first slide I always I always go back and check and we still I hate the word edge, too We're still good, right? I Always want to check Okay, cool, and we begin and we continue so so Going in the day, too It's gapping up higher and so I'm excited the higher the better. That's the mentality and People are asking me like, you know, we'll made you short. How did you know it short it? Well, first of all, like I was trying to show it yesterday So that's that's kind of how it was on my mind the short So I'm not a saying like I didn't just pick this as the time to short like I shorted it four or five times yesterday so The fact that it was gapping up told me that shorts were in trouble So I was actually willing to be extremely patient with the trade You know, like let maybe not even trade it till Till the end of the day if I had to I was willing to be really patient because I expected more squeeze now When we were gapping up pre-market I expected this kind of to go to 10 right because like if we're gapping up pre-market and It looked like it kind of rolled over after hours and we're gapping up to like eight I'm thinking man if shorts are really in trouble this can really go But we couldn't get past eight now I was like and I was that was surprisingly low for an after-hour for a pre-market squeezer So that's what kind of got me interested in short when we kind of did this fail here at eight And we like failed seven at the open. I'm like, okay, maybe this is Run its course. So That's when I started to look for levels to short off of it and my favorite was seven dollars and thirty cents Why because seven dollars and thirty cents. I want to go back seven dollars and thirty cents was the high of the day yesterday, right? You know about seven thirty so that was the level that I was really hoping for and there was multiple references one it was yesterday high a day and Pre-market it acknowledged it a couple different times seven dollars and thirty cents So that you know the more times a level is referenced by the stock the better because that means that more people are relying on that Stock to tell them what to do Cool now This was a trade a couple days ago that I totally missed actually But I do want to put it on here because I got a lot of questions on it Cool starts with the idea of a toxic daily chart and a lot of the guys in chat nailed this and You know kudos to them Because I mean I should have been a little bit more aggressive in hindsight, but hindsight's 2020, right? So everyone was asking like me about cool like Miss cool. I miss cool like I had orders. I had orders. I'm like me too guys me too. I had orders on this I know Alex had an amazing short on this I had four thirteen the lines are for their see their lines here There's three there's four there's four twenty and the next one is a psychological 450 and that's kind of what I was going into I was hoping that we would push on for get to four twenty And then maybe go to that for I was gonna have some more shorts in the four thirties and hopefully cover down here This really just I mean it pushed on for and just said Sayonara right at the gate at 413 was gonna be my start and I didn't even get it so You know, I missed out too guys, so it's not this it this this isn't a science, right? It's an art like Sometimes you have to be more aggressive. Sometimes you have to be more liberal Or sometimes you have to be more aggressive. Sometimes you have to be more conservative on this name I was a little bit too conservative and the reason why is probably because I saw it fade so much It's already faded off so much from where it could have been so I'm like, well, I want a little bit more out of the move. I was wrong. All right, so Market sentiment this week pretty fun stuff, right? All-time highs are at market all-time highs today, and we're all idiots for not buying the dip Just straight-up idiots for not buying the dip because it works every time Until the one time we think we do it and it's not gonna work because that's trading so we had a lot of We not a lot but kind of like a steady amount of participants like I didn't have to change this list very much like in the number of lists We're what I feel were the kind of the biggest more important runners of the week runners or movers Beyond had an insane $200 touch in the week That's that's really showing just how much shorts are stuck in there. Everyone knows it's overvalued, but It's just it's just too clogged right now MLNT today, I think was the Was the strongest stock of the week EDS a was a sympathy and that was good, but it was kind of weak I didn't really like how weak it was like or the fact that we only got one right I wanted more the like it didn't look weak because it went up a lot of percent But it was really low flow like 300,000 share flow 100% really easy. So like I Kind of wanted to see a flurry of sympathies especially with the market at all-time highs, but someone's just taking its toll, right like it's It's really harsh, but the good news is that like we're getting at least a player to a week And that's all you need right you don't need to trade every single day Like I'm certainly I think I had I think I had a day this this week where I didn't make any trades maybe two We had a lot of IPOs today, I don't really know a whole lot of them Except work slack I'm gonna be watching that Actually, I don't even know how it flows We'll look at it How did that close Yeah, so I'm hoping like I'm hoping that one of these like in the in the future In the next coming week I'm hoping that one of these just decides to go go go because then we can get like a nice first red day set up Like pins was right like, you know, sometimes IPOs like to just rock it up And so this is an opportunity that I'm gonna be looking forward to I'm gonna be keeping an eye on all of these Hoping that one of them just decides to go go go So that way we can get a nice short on it A nice short play in the coming weeks Anyway, these are the sparks of hope MLNT and EDS a they were big movers July earnings season is probably gonna kick the curb on some of the small cap plan But if you're a large cap trader, this is what you're looking forward to Right now, I think we're kind of it's like in this cycle Like I think we're kind of in the middle like we're getting a little bit of runners We're certainly getting a lot of tankers like OPTT today and cool the other day, right? And like Nothing's like nothing like there wasn't a whole lot of sympathies which is pointing to like a dead market Like we only had like one or DMAC was one too, but that was pretty weak today Is building good habits, right? I was getting a lot of questions of like, you know, like Like moving orders down like like I keep missing and stuff like that and like you have to create good you have to create good habits for yourself because like if you don't have good habits, you're not going to be consistent and This is like We're really good at building good habits when we have a red streak or a big loss and then we go back to the day one, right? When the when the green streak ends We have a big red day or you know, we had like three red days in a row or something We're like, okay, we got a focus back to the drawing board. What made me profitable? What what led to my consistency? How do I get back to where I was, right? and it always starts with Going back to your good habits that you forgot along the way And so the the number one good habit that you can have is risk management is vital, right? you know preserving capitals the number one rule and you and you Should have a printed out piece of paper For rules for risk, right? Like what are your risk rules like or at least know what they are like? I know my number one rule for risk is I don't buy anything up three anything up more than 200% on no news That's my number one or my number two rule, right? Number one rule is preserving capital lip to trade another day Take the cut no matter how big it is that you can keep trading the second rule is I don't buy anything up 200% on the news. I'm too afraid of an LF buy-in haul or a CETC haul, right? I'm just too afraid of that kind of stuff So just know your rules know Know your rules about trade execution. I'm gonna go into some of that in a little bit but um and knowing and knowing your stops knowing your stops is going to being aware of your stops is going to be is going to allow you the freedom in the trade to exercise your good habits because When when you're trip when you don't know what your stops are or If you don't know what your stop is or you're not aware of your risk when risk management is not number one Maybe I can't speak for everybody but for me when I'm not Actively aware of my risk my trading is kind of all over the place because I'm just you know buying here selling here Like shorting here or whatever it's going to be right. I'm just kind of like freelancing everything and You know, like I might be just randomly stopping out of stuff because oh, I didn't like that, right? But like the reason why I didn't like that is because I'm not prepared for the trade So when risk management is number one on your mind It allows you the freedom to to trade the way you know you should like now you're free to practice your good habits because You know in the back of your mind everything's all G when everything's all G You can trade when everything's not all G in your mind when you don't have that state of mind comfort your training can be very eclectic Reasonable outcomes is a really good habit to have and I was talking To a trader today or yesterday or see that I took a nap so I can't even tell No, it was today about outcomes and like scaling into moves right and how like sometimes when we scale into moves We have to move the outcome of the trade down or up as the trade pans out So anyway, so these are some of my good habits and bad habits So some of the good habits that I have I downsize if my entry sucks So like if I enter into a bat, I will show you a great example the second the slide is over um I downsize of my entry sucks. Um, I Also, I'm very patient with my entry right and I can abstain for weeks So these are some of my good habits I don't have to I can I don't have to trade for weeks if I don't see anything good I really don't feel the need to place the trades or at least anything with size I sometimes I'll think around with with minuscule size, but That that's that's how I justify it like it's minuscule But yeah, if I if I'm in a stock and I enter and and I know my and I don't like my entry I immediately downsize and I did this on MLNT when like I did like I shorted it like when I shorted and covered and Then I accidentally covered so I reshorted, but my average is shit. I just kind of covered it right away That's a good habit that I have it. It protects my risk. All the good habits are gonna be risk-based. Um, I Also grade my setups before every single Before I enter every trade out loud. I say this is an A setup This is a B setup This is a C setup and I and I judge and I put my size on accordingly So that's a really good habit that I have that like I will literally say it out loud to keep this habit going. I Will always it I will admit when I'm wrong. I'm very very I don't think I've been stubborn in a trade for over a year where I just held right I just held through something I shouldn't have right like I just don't do it like I'll admit when I'm wrong really well And I just take the trade off That's a really good habit that I have and that's my my my last good habit that I want to say I have a really good poker mindset like I treat trading like poker and I don't let like one trade really effed my mind. That's what I'm really good at And a good catalyst Why did you just start the day with I didn't actually Sure, the short bias. Sorry not to interrupt the question What made you decide not to look for a first bounce on it Just trying to find out what term and your pre-market pieces and move so strong and upright So good good good good good question. I actually did want to long it at first I wanted to long it at 285. That's when it first popped up and I'm that's it So what I did with OPTT What I did with OPTT today, I guess maybe this is psychological I didn't even realize it what I did with OPTT today is what I wanted to do with MLNT yesterday I kind of bought it here thinking that it was going to do an MLNT kind of sympathy move and MLNT Yesterday I wanted to buy it at 285. That's if I remember watching at 285. I'm like, no, this is FDA. You can go Right like right here like right there like 285 I wanted to buy it right there 285, but I'm like, this is a bad entry zone You can't do that. You can't do that, but like it all depends on what you theme is reasonable, right? Did I really think that it was gonna go nuts like that? Well, I didn't because we hadn't seen one for a while do that So I didn't have that confidence reassuring like I did with OPTT, but OPTT is a total total total turn Like the news really sucked. It was an old news. Anyway, it's not like FDA approval Like they just put out their PR about their wave energy buoy for the like 20th time So that's why I was quick to exit that one too, but Yeah, I wanted to buy it here and when I felt I missed it See when I felt that I missed the move That's when like I tend to sometimes look for the short like oh I missed the long and now I don't want to chase the long I want to short it so that's kind of why against the mentality I didn't look for a first bounce on it because it grinded I typically like I typically like first bounce moves on like big moves or people feel they're missing it Right people feel like they missed a big move and so like the dip comes and people are buying the dip This is a steady pre-market trend. So I didn't really see the opportunity for a first bounce You know like this This is a pretty good first like first dip to buy I guess, you know in hindsight, it's easy to say that but um I Mean well Harry nailed it so That maybe what he was thinking there too But yeah, I didn't feel the formal of the first bounce because like this was a nice steady grind rather than like a this Kind of move right sorry Do you dip buy and long on the inner lines? Or do you focus solely on the outer line? So I mean it's all relative It depends on the liquidity. It depends on the flow It depends on where how far in between the support lines are It depends on like if it's like three red candles in a row if it's just the first one First red candle in an inner line. See all this stuff kind of comes into play, right? like Like how much volume is on the tank like do like right like what's my range estimation of it? So like I can't answer this solely but I guess as a general rule um if like It's a super general rule. Like if I'm conservative, I'm going for the outer line if I'm aggressive I'm going for the inner line if it's um If it's a if it's a piggy short, I'm definitely starting early right because I have conviction Like if I have conviction, I'm much more willing to go into an inner line, right? Because like I have a feeling I'm going to be right. I'm willing to go for that inner line Like if sometimes if I feel shorts are really really really really really really trapped I'll go for the inner line because I don't feel like they're going to get the relief Right. I don't think they're going to get the relief of the outer line Like if shorts are truly trapped If shorts are truly truly truly trapped They're not then then like they're not going to get the out, right? There's just going to be too many covers So where they're not going to get that outer line relief and if they do get the outer line relief Then it's almost like going back to the webinar. Do I really want to buy there? Is my thesis right? Like if I if I'm going for an inner line buy and I get the outer line But the thesis was it shorts are trapped There a lot of them maybe aren't trapped anymore. And so now Maybe some longs are trapped. So like maybe my thesis changed. I do I really want to be adding into this trade now, right? So that's kind of plays into what I was talking about in the webinar like depending on what your thesis is Maybe when the outer line comes you don't want it Um Yeah, I just wanted if yeah, they don't Yeah, okay, some people might have different stuff for each quantity put on. Yeah, and that's a good way to think But that's that's a way of thinking of of each ads is each each ad is an individual trade You know, but if that's truly your thought process then at 230. Why do you still have a two short? Right if two, you know, if each of them is an individual trade and you shorted two to 10 to 20 to 30 Then at 230 what in the world are you doing with the two dollar short on right if you're treating it as an individual trade? So that kind of runs into a little logical problem there Um, so that's why I think it's simpler just to um short ranges Uh short the range and cover the range, right? It's all one short that you're splitting up I feel like that's easier on the brain to think about but maybe that's just me Um, yeah, and depending on how it's holding on the tape. Um Do you still use hotkeys on a stock with a wider spread? Yes, I do. Um, if so, how do you approach that? Or do you manually enter those so actually? Um, let's back up. Um, if there is time If there is time um I will do the manual order Hey traders, this is tosh. I go by t bradley 90 in the my investing club chat Just wanted to reach out and say if you have any questions about m i c joining m i c Maybe you're a member already you have three ways to contact myself personally and through m i c You can hit our social media You can hit me through pms in chat or you can contact us through my email At tosh at my investing club.com. That's tosh at my investing club.com I will get back to you in a timely manner and I'm saying this because I'm here to help and I don't want anybody To be afraid to reach out and ask any question that they have. We are here for you guys. All right. See you guys