 What's up everyone? My name is Alex. I'm one of the co-founders of MyInvestingClub.com. If you are brand new to trading or are curious about trading at all, I want to let you guys know about a free two-hour mentorship course that I put together with my mentor, Bao. It is available at MyInvestingClub.co. The link is going to be right here. This is a free webinar with limited seating every week, so please click on the link and reserve your spot before the time runs out. Also, a special bonus for all of our viewers on YouTube. So if you guys have any questions about MIC or you're curious about joining or you don't know if MIC is the right fit for you, you can now text Tosh, who is one of our head mentors and head moderators at MIC, and he'll answer any questions you have about MIC. His phone number will be in the link in the description. It'll also be right here. Thank you guys for watching and enjoy the video. This is, if my math is correct or my memory suits me, this is week 26 of the new member orientation webinar. Coddix just had random news and now we are watching it. All right, who has questions? Let's go through a couple. And then later I'll talk about a couple key topics that I think are just super cool, man, just like things about sizing or things about sector plays or whatever it is. Who would be the best to talk to about holding my positions longer? I already sized down and still struggle. So dude, we got a whole swing trading room in here, man. So swing trading. So right here, Papi, Stan's really good. Tay is really good. Yeah, Tay, so like these two people. So these are good traders that are going to help you just learn how to identify how to hold longer and or swing, you know, not everybody is comfortable, man. Not everybody is comfortable with the info on Lee. Why not long first thing? I scalp 25 cents. Maybe that was too risky. No, I mean, that's fine, man. Like here's the thing. You just don't want to chase this high. So to answer your question, David, if this would have pulled back to like a very, I don't have a line chart in front of me, but you got to see the line levels, right? Like had this pulled back to probably this level, I was looking for it, man. I was looking for a long one. I swear to God, it just didn't pull back enough. So had this pulled back to about the 220 line, man, that this kind of like, like what seems like a sport line, maybe 220, maybe right there at 208, I probably would have longed at 220 and like downwards to near two. If this would have dropped there, I would have longed and tried to get a bounce out of this just because the catalyst, but this just dipped a little bit and then took off. Hey, Tosh, can you walk us through how you would trade NNVC's death candle on January 27th? Does your cover strategy change giving the stocks fundamentals? Coronavirus news, ETB midday? That's actually a really good question. NNVC the 27th, you said. So this day, dude, you guys know me too well, man. You guys are like stalkers at this point. Hell yeah, dude, you're totally right. I wanted to get some of this, but guess what? I couldn't get to borrow. So dude, 100%, I mean, that's a drastic move. Met with a drastic stuff. I wanted to short this pop, dude. I really did. I would I would have absolutely sure that I couldn't get to borrow. But yeah, I wanted that. I definitely did. And I probably because it's over VWAP would have covered at VWAP. So I wouldn't have looked for a major move out of it. I honestly wouldn't have looked for literally too much down here. I would have literally just shorted this. And then obviously the range is enough to make you confident like that dude, you can get 100 shares can make a small account, some money in this, you know, 200 bucks to study long should I study all the long videos then practice with the simulated, stimulated practice with this. Well, you can I don't know what me practice with the stimulated man, but I don't judge. No, yes, fun. Practice with the simulator first brother when you're learning anything. I don't care in shorts, longs, options, whatever, never practice on real money. The first. And then once you practice on a simulator and you know, do anything as it pertains to you know, training wheels quote unquote, then go small size on real money and then and then yeah, man and then go real but definitely, definitely, definitely always when you're trying to learn something new guys, you know, do it on a simulator. Why not? Can you explain tape being heavy? I went through the videos I got access to still not understanding. Yes, first thing I should say about this though, Menard, I would say that if you think that tape will save you don't think that it's not the end all be all it's like it's traders the two biggest misconceptions in trading in my opinion on traders looking at veteran traders as they go, Oh, he's good because two things he uses size or he's a tape reader. It's bullshit, man. Those are tools that yes, you can have in your disposal, but you got to focus on the lines and price action first man tape should come very secondary in my opinion. Say this is how many buyers that you see and then you see one seller and maybe he's throwing maybe he's he's got this on the board a hundred maybe this guy has who you know, you know, I'm just making shit up but it doesn't matter. It's just maybe maybe this is what you see right like you see a ton of things like this right like you just see like you think that there's a ton of size on the bid. This one small dude should get chipped away and then it thins up should happen right it should happen quote unquote should but what is this guy's real size he's hiding there's one seller there's a ton of buyers and they're showing some size and guess what the stock is not going up and this guy is not getting rid of so then what happens these numbers start going down immediately these numbers start going down and then the tape the matrix code you know all the tape is red red red red red and then it thins down so this guy is a massive hidden size seller and then the tape goes blood red and then you get the mother of all fuck you fuck you candles that looks like this. Oh, I hope that was a good explanation. I just explained tape and numbers with lettering. Now that takes a real talent. Kesh, when you trade low hanging fruit do you only wait for outside lines to short or what to see if you want to get in short. Yep, every time buddy. Every time. So codex for example today my line my first line was right here. I always love this. This is a good example for you guys. This is just a kind of like a good guide. Here's a here's a trick for you. Low hanging fruit. If it gapped up at all and then broke down pre-market. I'm looking at that level because now there's bag holders literally even today of the people that maybe thought that this was going to run and jump and blah blah blah on top of the relief pop that is already should occur for these guys to get out the day before. So this is just extra bag holder mentality. Got you quick follow up to the NNBC death candle. Does your cover strategy change given the stock's fundamentals. Oh, not necessarily. That's not necessarily based. I mean, yeah, I mean, if the stock has dilution, I'm going to hold longer. But you know, I'm really looking for a quick move out of that and then just rinse and repeat, rinse and repeat. Yeah, of course guys like I'm here to answer your questions man. It's fun talking about this stuff because it's like we like even me talking to you guys specifically. This is reestablishing and reaffirming what I need to focus on in my trading every single day. Tosh why position size is usually measured in number of shares and not dollar amount. Wouldn't it make sense to trade with the same money size $2 stock and $6 stock. No, the reason why SGM is because here at least let me tell you the reason for me. The reason why I'm always going based on shares and not a position size is yes, Joe Kelly just said it is range. It's going to be way, dude, like NNVC versus Codex, bro, the range, look at the range. And simultaneously, I don't want to be thinking how much money I've got invested in this. That's just going to fucking fuck with everything. Dude, I'm going to be like, wait, what? What am I risking five grand? I'm risking 50. What? Like, what's happening here? You go by share count because you can so easily identify how much you're willing to lose. We all have those tickers that just remind us of a terrible day. I've got them, Joe's got them. Alex definitely has them. Dude, Alex's biggest loss in his trading career is actually his biggest win. Drives. So it's so bittersweet for him in the sense that, dude, while Alex absolutely smoke drives, I think he made like, I can't remember his exact numbers, but dude, he made like fucking $800,000 on drives. Fuck, dude, there's too many of them. Mara, this is my biggest loss ever. Cryptocurrency back in 2017, I thought I could take on cryptocurrency in the start of that sector move. And those, that sector ran for months, dude, not fucking coronavirus three days. This shit ran for fucking months, dude. And Mara was my biggest loss. Me and Alex talked about something very specific last night in the trader clinic. So I'm not going to go too much into it because I don't want to, you know, make it make it like the trader clinics is just free open public. It's not, but I will say one thing from it. And sizing is not your answer. So any trader out there that's, you know, not consistent, not profitable, trying to figure this game out. And then they're like, oh, man, like I'm only using a thousand shares right now. And I make some, give it back. I'm not consistent, blah, blah, blah. Five thousand shares is not going to be your fucking saving grace, man. It's not going to be what saves you. It's not going to be what makes you. It's not going to be what makes you money. It's going to size is a privilege. You've got to earn it. You've got to learn it. You've got to go by small increments up. I used to trade with this guy. This is just for fun. I will not name his name, but he's an older gentleman and I wish him the best. I still wish we were friends, but you know, it is what it is, man. He was married and he's been trading for a long fucking time. I like he's been trading for a long fucking time. Older trader and he said back in the day, you know, he'd be at work and he would follow alerts and follow alerts of a really good trader. It was kind of like a buddy, right? So it wasn't like, you know, a pump alert room or anything. It was like shorting. So he was he'd be at work all the time and then there would be a noise on his computer when his buddy would alert because like he ran a service or something. I don't really know all the details, but his wife would get in on a stock that was alerted and he'd win all the time. It was more of a swing trading room. It wasn't even really. It wasn't really day trading. So he said one day he comes like he's in the other room or something. His wife takes a short position and he's like, babe, short 5,000 shares. The chick shorted 50,000 shares. He got to his computer and he was like, how the fuck am I at $5,000 right now? I don't understand. He was shitting himself. The minute he found out his wife shorted 50,000 shares of like Bank of America or something, dude, he was he ran for the fucking hills, dude. All it did was uptick like five cents. He was up like five cheese. I'm like and dying dude. I was rolling the first time I heard that because, dude, you got to think about that shit. Literally 50,000 shared, bro. All you need is like a couple cents will make your day. So the point is is like that was an accidental thing. Thank God I'm only like fat fingering in like an 800 starter or 1200 starter. But back to size, guys, if you are shitting your pants in a position, it's tooth, it's twofold. Your size too much or you don't know what you're playing and you don't know how to manage it. So size down, size accordingly, do the necessary things that you need to do. But just there's you got to always have a plan. Thanks for watching the video, everyone. If you have any questions about joint MIC, you could text Tosh directly using the number here. 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