 What's up, everyone? My name is Alex. I'm one of the co-founders of MyInvestingClub.com and I want to let you guys know about something special we're doing for our viewers on YouTube. So the most common question we get asked is, you know, how do I start day trading? So what me and my mentor about it is we create a free two-hour mentorship course for the brand new trader. It's going to be available at MyInvestingClub.co. The link is going to be right here. This is a free webinar that reveals our 12 secrets that every single brand new day trader should know before they start. I also want to let you guys know about something that's very unique to MIC. So if you have any questions about trading or you're curious about trading or you don't know if MIC is the right fit for you, now you can text our head mentor, Tosh, whose number is going to be right here and he'll answer all the questions that you have in less than 24 hours. Thank you and enjoy the video. Let's do it. All right, Kills. So this is round three big cap trading webinar. Let's get it. Round three. Round three. Point. Yeah. Point. That's fine. March 10th, 2020. We've been in a crazy, crazy market. So we're going to talk about trading during market volatility, how to do it and some of the best practices to have. But first, before we jump into that, like we did last week, we're going to do a little market analysis, but we're going to do it a little different. So this week we've got a lot of headlines that continue to pop up and the market continues to react in very different ways. It seems that the market does the opposite of what everybody thinks it's going to do. So we're going to see what the thoughts are here. Barish or bullish. First headline is Trump to seek payroll tax relief to help calm the financial markets. Basically, today he mentioned this, that he wants to, he's proposing 0% payroll tax across the board for a period of time. I think that means we're going to have to short trader tax, CPALC. To me that this particular headline is bullish because it immediately gives the middle class a raise, right? In the middle class is the lifeline to the markets. It's basically a strong middle class has proven that when there's a strong middle class, the US economy is never stronger. When you give the middle class, it's different from a Fed rate cut because the federal rate cut encourages debt, right? It encourages more people to go out and extend themselves further beyond their means at a cheaper amount of money, right? But if you combine it payroll tax relief for a period of time, not only do you have low Fed rates at that point, but a payroll tax cut. I mean, I don't know if you've ever had a real job, Sam, but in the world of real jobs, it sucks compared to trading, but it sucks when you shell out 25, 26% of your fucking check to the government. I mean, that is just painful. Bro, I used to work in like this warehouse and get minimum wage and like half it fucking goes away and I'm like, dude, what the fuck? And then like, you know, trading, it's like, you can make like a hundred bucks and like, you know, whatever a couple of minutes and it's like, fuck, it just makes you so humble. But yeah. So like Brian mentioned there, it's 15% payroll tax if you own a business. 15.3% is the payroll tax. Half that if W2 employees. So either way you look at it, it's an immediate pay raise to the people that receive the checks. They don't have to qualify for more spending. They don't have to qualify for jack shit. It's an immediate pay raise and it's a tax relief program. So it's not going to be there forever. It's not a permanent tax cut. I'm going to be sick. I'm kind of, I'm bullish on that. I think it's, I think it sounds bullish, but then it goes back to what you said of, you know, market does the fucking opposite. Right. Yeah. We'll see. I don't know, we'll see if a gap down. Trump says he's working with the crews and airline industries on the coronavirus without offering any details. We're working very closely with them. We're helping them. They're two great industries. We're helping them through this patch. That's bearish as shit to me for the market, for the market. He says, for these crews companies that could be bullish, but I hate the idea of the government handing free fucking money to these, to these fucking crews companies. I hate the idea of it. I think it's dumb. Yeah. And it says without any details, without offering any details. I don't know the fucking details, dog. I'm an investor. Yeah. And Brian said what I've been thinking the whole time, it reminds me of the automotive bailout when the government bailed out GM. And it, nothing good comes from that. Is that during 08? Yeah. Yeah, it's during 08. Okay. Yeah. Nothing good comes from it. So I think if, if we latch on to this idea, like if he latches on to this, help the cruise industry and bail them out. That's when I turn bearish again. And I'm like, nope, because that, that, I mean, that's just like, it makes no sense to me to help the fucking cruise and airline market. I, and makes no shit over here in the first place. Yeah, I'm kidding. So let's talk about some rules to help people safe in this market. You've never traded in a market like this and you're looking to trade big caps. What are the things you need to be doing? First of those is actually being a sniper in this particular situation. If you're early or late on either side of the trade, you could seriously sit through a really bad drawdown. Oh yeah. That's why it's patience. Yup. Being a sniper. Dude, it is 1000% patience. If you are early or late on either side, if you're early on the long, you're going to get smoked. If you're late on the long, you're going to get smoked. If you're early on the short, you're going to get smoked. If you're late on the short, you're going to get smoked. Every single time, if you find yourself being too early or too late, you just need to stop for the day. Maybe stop for the next day. Rely on yourself and get back in line with what you need to be doing. Next, be quick to take profit and quick to cut a loser. Don't let a winner turn into a loser either. So Apple, if Apple breaks down tomorrow and I don't get any continuation, I will do everything I can to sell the calls at breakeven. Oh man, that's the best thing ever. Just if you're in the money, just breakeven stops. Simple as that. Bro, you said it in a live trade video like last year or some shit. It's been a while, but you said it. Like, dude, after I start to take profit, I move my stop to breakeven. Always. Even if it's like, I get like a 20 cent pop, that kind of thing. Depends on the stock, obviously. But just typically, if I have a chance, I'll at least take some off breakeven. The thought is, let's say I long or whatever, I mean, I never long. Let's say I short 21 line, whatever. I'm in at 21.90 and 22 stuffs, whatever. Tanks to 21.70, but I don't lock any in. And then out of nowhere, it pushes back to 21.90. You know, I've let's say 2,000 shares. Right there at 21.90, you know, let's say I have an opportunity or let's say there's an offer or whatever. I can get out some, then okay, it just makes sense to me to just take off half there at breakeven at least. So I have 1,000 left. And then let's say, boom, it goes up and hits my risk. I just saved myself 100 bucks because I stopped out 10 cents with 1,000 shares rather than, you know, with 2,000 shares. But it's just like, you have to combat, the problem with it is you have to combat your own kind of stubbornness and like willingness to be right. Like I was like, oh, I have to be right on this setup. But a lot of times that's why it helps where like, I just kind of blindly just do it. I just mark it out right when it's kind of next to my average, even if it's like a center two loss, just so this way I don't get stubborn. I'm like, all right, you tell me my fucking average, whatever, take it off, I could re-attack. And then nine times out of 10, if you do that, you could re-attack with the clearer head and, you know, go from there every time. Man, we've set it all up, bro. What the market gives, the market can and will take it away. That's a good one. I like that. It will do it. And it can take, take us more, more. Yes, and it can take us more than it gives. Avoid holding overnight. Yeah, Morris. Oh yeah, holding overnight is pretty scary. Yeah, avoid holding overnight, especially as a new trader. I think you have tiny size, me, like. Exactly, yeah, and I wanted to add that in here, but I knew we would say it, you know, but. Oh, that's funny. Yeah, I wanted to actually put that into it, but just as a rule and whole, avoid holding overnight in these periods, play setups that are going wildly in your favor rather than against you. Market-related headlines can potentially damage your position badly, and you can't use it. Especially if you trade after hours, or you can't exit after hours. You just, you're just there. You're like, well, fuck me. Here we go. And like, after hours, you can do. You can get knocked. Like the bid, like the fucking bid just drops, and shit just keeps, like, waterfalls. I mean, nothing you can do. And there's nothing you can do. So another smart thing to do is wait for the first 15 minutes of the morning to settle out. This is the time when there's a lot of emotions and the most emotional price action occurs during this time. Obviously, there's a high percentage of profit available in this time because of the emotions, but if you pick the wrong side, oh man, it can really be nasty, very fast. And the problem with picking the wrong side is you're like, oh, it's at my stop. Let me give it a couple more cents. Exactly. Oh, a couple more cents. What if it was fake? Like, you know, fake breakout. A couple more cents. Oh shit, I'm down a dollar. And now I'm here at headlight. And now it's either going to go back to break even, or max loss. All right, guys, I'm going to head out. I don't know if you're going to, like, finish up some questions if anyone has. Joe, I'm going to make like a baby. I'm going to head out. So thanks, guys. Have a great night. See ya. Later. Thank you so much for watching our video. If you want to see more of our videos, please subscribe to our YouTube channel by clicking the button here. We do our best to post a new video every single day. If you have any questions about MIC or any general trading questions, please text Tosh using the number here. Also, stay up to date by watching some of our most recent videos right over here.