 One of the most common questions I get asked is, you know, how do I start day trading? So what me and my mentor about it for our viewers on YouTube is create a free mentorship course that reveals our 12 secrets that every single brand new day trader should know before they get started. But please take note that there is limited seating every single week. So please reserve your spot at myinvestingclub.co link is in the description. All right. Enjoy the video guys. Okay, we're recording now. Okay. Yeah. November 10th, 2020. We've already started talking about Anchored VWAP and I forgot to clear record. So here we are. We're going to talk about the spy. We're going to talk about Anchored VWAP. Everybody's average in this potential in this particular case. 29750 is where everybody's average is from for the most part. So simple moving average. I want to add three moving averages here. So why did I pick the 12 line on this day? Why? Because we opened well above the midpoint. We opened at 1280 nearly 13 and a $1 washout would have been straight to the daily chart level of 12 bucks and it's a pivot point, which is the midpoint. We opened above the midpoint and so I want to buy a washout. I want to buy a washout into these levels. All right. I want to buy a washout into these levels. We opened well above it. I want to buy it into this level here. If this level fails, my next target 1057 1050 11 bucks. I am waiting down here because the odds that this bounces from here are extremely high. How do I determine the midpoint? This is an indicator. But if you want to know the math, it is previous close plus previous high plus previous low. Put all that into a parentheses divide that by three. That equals the midpoint. Okay. Easy math. Easy math. If you don't have pivot points on your thinkorswim, it's easy to get that. Here are the pivot points. If anybody wants the script, there is the think script. You don't have trades. If you don't have thinkorswim, if you do not have thinkorswim, then there is an Excel file in my trading basic series that I give out that all you do is plug in the prior day high, low, and close and it gives you what the pivot points are, what all of them are. Okay. And it will just expand from there, right? So, hey, there it is. Now, when we take into this, so a lot of people have been deeming me that they're like, well, what do I determine what my bias is today? Well, you determine what your bias is today based on where it's opening in relationship to the midpoint. Okay. Are there pivot points for dots? Absolutely. I'm the one that did the very first video on that. And we scroll on down to setting up lines and setting up lines for DOS trader. And I'm going to paste that right there. Thank you, have a good one. All right, folks, we're going to carry on here with our topic. So it depends heavily on where we're opening in relationship to the midpoint every single day of the week, all right? If I am still long biased, let's write out several situations, let's write out some scenarios here, okay? If I'm long biased, what am I, what am I going to do, okay? What am I going to do in this case? All right, what I'm going to do in this case, and we just let's just write it, let's write it, and we'll draw it in here. Okay, so we have a situation like, or let's just write it out. Okay, we don't need to draw it, we see it. I'm doing that, that's a pain in the ass. Okay, long bias, let's talk about long bias. All right, so question number one becomes where is the stock trading pre-market versus the midpoint, point, sorry, point, okay? A, are we above? B, are we below? Next, if above, our goal is to buy a washout into technical support from the daily company that aligns with a pivot. Hey guys, my name is Tosh Bradley. I'm one of the head mentors and moderators at my investing club. If you have any questions about getting started in trading, getting started in the MIC, MIC in general, text me at 213-458-5997. This is not a robot, it is me directly on the other end of my business line, and we'll get you in the club. We also have special promotions going on that I can get to you depending on your trading needs. Hit me up. Back to the video. Ideally with the midpoint, otherwise called the PP, sorry, I'm immature. Ideally with the midpoint or the pivot point or S1. Okay, if it's opening below and we still have a long bias, okay? There's still a situation. I'm not telling you guys that you can't be long biased when it's opening under the midpoint, all right? But if it is below the midpoint, if it looks that it is going to open below the midpoint during pre-market, it's like, okay, we're trading around under the midpoint. Then our goal is to buy a washout into technical support from the daily, okay, that aligns. We're just typing this again with the pivot, ideally with S1 or S2 now, okay? So now that we have S1 and we have S2, all right? But, but, but some cases could dictate using S3 or S4, okay? S4 has pretty good odds as usually it's in a two-line rule, okay? In a two-line situation. So I'm going to draw this and this is not going to be, I'm not going to do many drawings, but we're going to, we're going to draw this out. So think of it like this. Whatever line it extends to, let's say that is this example. New here, does Joe mainly cover large caps? In this webinar, yes, I cover large caps. On Wednesdays, I talk about small caps with Tosh. This webinar is large caps. But if you want to talk about a small cap, I'll talk about a small cap if you've got good questions. Otherwise, hold them to, to Wednesdays. So S1, S2, think about it like this, okay? This is okay odds. It's okay. It's all right. We wash out to here. There's a decent chance of bouncing off here. I'm going to say it's about a 60% chance, okay? Two out of three times, we will, all right? It's an okay odds, all right? S2, much better, much better, all right? The odds that it bounces off of this line are 80 to 90%, okay? Isn't it if it opened below the midpoint? Yes, correct. Yeah. Reason is, is now all we have to do is transpose these numbers over here, okay? They're just labels, right? They're just labels. It's a two line situation, okay? It's a two line trade, which is what Bao does, right? He shorts into two lines. Let's say he's got the four line and the five line. He will short the four line and the five line and he will only stop out of the lower shares that he shorted at four if it goes well above five. Like if it breaks the second line by lot, he's going to cut those first shares and so on and so forth. The reason being is there's a technical kind of, it's, the stock doesn't want to exaggerate itself all the time. It wants to try to find this kind of happy medium. So it wants to trade around an average situation. Yes, this will be posted. It has happened and we will talk about that, how implied volatility can affect a trade. And I'm going to say two weeks, but I get to go with Oren and see what he wants to do. So that's that, ladies and gentlemen. I'm going to finish the rest of my walk. I'm only four terms brown and yeah, that's it. And then I will let you guys know if we're going to do a Dallas meetup. So have a great evening guys. We'll see you later.