 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 I reprise my role this week for week five of the Q&A of the New member orientation webinar that I give every Wednesday at 2 p.m. Eastern Standard Time and enjoy All right guys. This is week five of the Q&A. Oh my god. DMP. I literally just made a move touch the red to green line fantastic Expected something like that So here's what we're gonna do guys. Let's open this up to a Q&A I'm gonna show you some really cool information that me and bow were kind of spitballing last week on Everything that it takes to be a new trader. So let me do that first and then and then where did I put that? Did I even open it? Someone saw me. Oh, here we go All right Here's what we're gonna do. So let me talk to the new traders really quick and tell you what bow was talking about last week And why it was so key So we talked a lot of stuff. Let me open this up So guys we were talking about process last week, right? Like process is one of the most important things you can do in trading So let me give you bow's process literally he was posting everything last week from process down to sizing down to everything So let me read this out real quick because it's so key and it'll cover a lot of what I want to talk about today. So Modern rock my alarm is set to 408 a.m. Every morning Then I check my stanners within the MIC chatroom then look for locates brush teeth into my bow bow bow movement thing I'll be at my desk by 445 and go through low hangers in new place to see what I like to locate Cobra has a lot of relocates. So call Cobra and open an account with them and tell them your MIC for the special discounts This is very true He was saying how he kind of screwed up a couple things yesterday What he does is so up until the open I am researching new plays and low hangers for lines These are called areas of the interest and to see the filings to see what edge he can find on these new plays So bow is literally Nailing down three to four main plays Even he may be looking at 20. It doesn't matter, but you nail down your top three or four You make a plan that you go to BAM as you see you see what the filings look like you see what lines look like And then you put your fantasy orders in this is what we do every day Then he narrows down the top three float is very important watch the trading fish videos These questions are all in the videos Because float guys float is very pertinent when it comes to range of a stock So like you know stocks go 30 cents can be a big move and then sometimes the stock that goes $2 is a big move, you know what I mean? So it depends on the volatility the range and the float and usually the float is a good indication of how Volatile the stock can be in fact. It's the best indication pretty much we have Outside of like how good the catalyst is and the volume and past history, but you want to pay attention to the flow Let's see So he wakes up early to research these plays as well as locating hard to borrow stocks to short He plans all his trades my trades are planned before I click a button This is key guys when it comes to trading if you are winging it You're dead need to plan and put these lines in place before you even place a trade It's all in the lines. It's all in the price action. Anyone that tells you differently is probably just trying to Think that they can holy grail and revolutionize themselves The if the if you're playing stocks with one million or two million volume plus enough volume to where it's conformed to the chart It is in the lines simply put So, you know bow knows all his areas of interest and has a plan on where to either add where to enter where to exit Where to take gains and where to take losses you want to focus on the one to three stocks This is key places fantasy orders on all his plays that he likes what he focuses again on the top three and then he rents them So like what's an A setup? What's a B setup? What's a C setup? So he can size further into the best and as Alex says, you know forget or scalp the rest Because when the stock gets there you already know your plan. It's pre-determined. You don't want to wing it Like I said every time you try to nail moves. You'll screw all of them up Nailing one play is better than screwing up five. I cannot talk about this more highly. I agree with this one hundred percent I would rather size into two plays a week guys at fantasy orders and make a ton of money in two plays Versus try to make a little money on five plays and then wreck my mental capital on the process of doing so When starting out paper trade, you know learn the mechanics then after being comfy to go to real money trading was Tiny size is how you do it. You know you pay for trade for a month and then once you get consistent Once you get confident then you know what you do you throw a hundred shares in just to see What it's like to play with real money because the emotions are gonna come I don't care if you're playing with playing with one share of real money when real money is on the line Your reptilian brain that has not changed and since the caveman days Goes into fight or flight and you will see if you're a total pussy or you're a total badass And you're going to now adjust Based on the comfort level of how you understand how to handle adrenaline and how to handle putting your Quote-unquote life on the line because that's what your brain is telling you and then once you get comfy One share goes to 100 shares and 100 shares goes to 200 and 200 go to survive and five goes to you know You eventually get to where you want to go I mean there's a reason why it take it took Alex six years to get to a hundred thousand shares short like there's a reason it Is takes time and just takes time But you want to start out slow, which is the key here When you focus when you find consistency you can increase size, but don't want to size too early until you are consistent Do your homework. It's basically classwork by watching our videos watching our video library and observing You don't want to start off gambling tomorrow You know a lawyer does not become a lawyer without going to law school doctor with medical school. They observe they learn Trading is no different. If you think trading is a lottery ticket, you're dead in the water Trading is not a lottery ticket. You know what it is. In fact, it's not glamorous. It is a daily grind It's like you know what it is. You know trading is like I'll break it up for a second So I live in Los Angeles, right? I've been near the film industry my whole life had a lot of family members in the film industry actors All that bullshit active, you know actors producers directors I've literally party chill with everybody in the Hollywood practically and I got to tell you all that polish bullshit Where actors move from Missouri, Kentucky, and they're like, oh my god, I'm gonna go to Hollywood. I'm gonna be the next star I'm gonna make it. This is what new traders do coming into the market. They moved to LA With the hundred dollars in their pocket and they think they're gonna be co-starring with Brad Pitt tomorrow Quote-unquote you think you're gonna enter this trade and it's gonna make you $4,000 in your first trade It's always gonna be like that. No, that is wrong You're gonna get to LA and realize how expensive LA is and realize Robert Downey, Jr. Doesn't just drive his Porsche around you all freaking day and you're going to have to put in the work put in the due diligence and There's no difference with trading guys. It looks polished, but let me tell you it's daily grind like anything else Just like a lawyer job is just like real estate is you've got to learn you got to work your way up You've got to build the steps build the platforms and then maybe it gets polished later because momentum builds And that's basically the strongest force in the universe is when you get some real shit going on You know for yourself you get some real knowledge you get some money You get some skill sets then momentum kicks in and things take off But you don't just start with momentum. You got it. You got to build it up So that's my rant there it is an iterative process meaning back and forth to refine your process start with paper trading find Comfortability and then go live training like I said earlier a hundred shares to learn the mental and live training aspects if you find you're losing You can go back to paper trading again So it's iterative go back and forth process to find consistency While you're still learning the strategy just because your paper trading doesn't mean you're not learning, you know I mean, that's exactly what's happening. And just because you're not trading real money Doesn't mean you shouldn't be in like M.I.C. Or anything and learning That's the key you should be paper trading in the beginning and watching our videos to build a foundation and then Eventually when you become self-sufficient whether you want to still be an M.I.C. Or not That's up to you But you'll know what you're doing because we taught you how to be a self-sufficient trader But yeah, it's hard whether you make four thousand dollars a day It's hard to leave M.I.C. Because the community I mean you don't want to trade alone. It's fun like dude I would never leave M.I.C. If I wasn't, you know a part of the running of M.I.C. and creation of M.I.C. If I was just a member I'd never leave it that's fun as hell You have a networking you you have a community you're a family to back you up and be supportive and be positive And it doesn't matter if you need and their traders or not It's great to be a part of a community and they hold you accountable any directly and directly Ah, yes, Olek. What's up, buddy a one steak sauce, baby? Yeah, so when starting out guys just observe and watch see what others are doing and find a tab partner. Oh Here's here's some good information DOS has a free paper trading account guys. You can go to DOSTrader.com or whatever it is Pay a hundred dollars a month hundred and fifty whatever it is. I can't remember. I haven't used it in like four years or whatever But you can Download these and then paper trade with a professional platform. So like when you see the charts and recaps and fills guys This is a DOS chart. You can you can do it You can practice on a paper account that looks exactly like this with your arrows and entries To see if you're lining up with that or if it's or if it's looking like it's working Yes, yes, yes, and then you can go live, you know after after 30 days with a hundred shares to learn Paper trading is like practicing before you go to the NFL Sunday Even NFL guys practice all week before the big real game When you're not trading well, bench yourself and go back to the practice field just like pro sports athletes Remember in the beginning, it's not about making money. Like I said guys, it's about foundation It's about process and strategies your 100 shares may just pay your commission your commissions and you break even But you'll see if you're nailing entries here nailing exits Better to pay one dollar for that trade than a lose a hundred dollars each time because you didn't back test And then get a broker with a per share commission structure. So don't use Ameritrade or e-trade I mean you guys can but you're gonna pay like nine bucks a trade eight bucks a trade And then they're gonna charge you other fees dude at Cobra It's like a dollar per trade if you're under a thousand shares because it's per share they tailored to the professional day trader A hundred shares literally a thousand shares cost like one buck versus like eight dollars for and then sixteen for around trips of two Versus sixteen or whatever it is Don't worry you guys Too much about PDT to when you're starting out because you want to enter only on the high probability Setups that like now said it's better to make two trades for a hundred dollars than ten trades for twenty dollars each And you risk your mental capital Problem is is when you make nine wins for twenty dollars each the one red lost day is going to wipe you out for 200 I struggled with this for probably the first three years my career is you know I'm green for 20 days in a row and then the 21st air the 31st day would wipe out the whole month because I was stubborn I didn't use hard stops things like that Your losses need to be much smaller than your wins It's okay to lose three times twenty dollars and then make one make one win for a hundred and you're still up That's the key. This is why they say it's size the best and forget the rest Hardest skills to develop a central if you want to stay in the game You must be okay with being able to miss a trade. This is called affording bono fear of missing out You must be okay with taking small losses before they turn into big losses hard stops and cut your losing position If you're not using a hard stop, you are dooming yourself. I promise you You must be robotic and systematic and follow your process and plan stay humble or else the market humbles you The best comes with experience You will understand over this over this game that over the years You will just start to see little subtleties that are nuances that you never caught before and it just comes in time When people are like, how do I learn this tomorrow and stuff? I'm like dude That took me three years to learn every single day Just showing up in screen time and I promise you it takes time You will learn to trade and then go back to your trades to see what works and what doesn't you know? You will just become self-sufficient In the beginning you do not need to know you In the beginning you do not know what works for you. You have to do it Do not be afraid to lose because the process has risk management which has stops in place So if you're protecting yourself, you're good on all counts So before you enter any trade you need to analyze your risk meaning you know where you will take the loss So that you know what to expect already if you cannot handle the loss. It means we're trading too large So size down and give yourself a wider range. I can help you on this on daily calls Myself and the moderators do daily calls and M. I see you know 10 15 minutes, whatever it is Whatever you need Sometimes five minutes we get to the point really quick and we can show you just how to do these simple things That may tweak your whole game and make it better But you stops as vital in which I reiterate daily literate This is why you use a hundred shares for example, so you can learn all this and make those mistakes first Instead of you know going 20,000 shares you make one little hiccup, and then you're dead Without losing your mind in your account get a tab learn together and it will help your learning curve Always use market stops because you want to get out It's a guaranteed out but you mailed may deal with slippage limit stops They will get you they will get you out sometimes they don't always fill so the stock, you know teleport candles through a limit stop and doesn't come back down and while you're short and It's trouble man. It's trouble like the like look at tesla right now See this big decline it literally just dropped three dollars in like two candles. This is insane. I call that short live I was like bow. Are you shorting this? I was like don't do it dude Just go enjoy your day because he includes the computers the rest of the day Oh my god, tesla's about to go red nasty but the key is is um This was such a big candle that that limit stop if you had a limit stop on tesla on the long side May not have gotten triggered. So that's a great example if you can simultaneously pull the tesla chart right now um You do not want to stop out where the hurt is you want to keep your stops where the where Where the chart is telling you to get out not your pnl or the sheet If you're shaking out by 10 set moves, you are sized in too large It's very hard to have a trading career risking five and 10 cents. You need to size appropriately and scale the trade Here's the advice I gave a um a member while bowed it Um in which he thinks can help everyone. I suggest you lower your size. Um And let the stock work longer. So if you're shaking out by 10 cents, you can reduce your size to the 10 Sense won't hurt you. I think you size too large You need to be able to take you need to be able to be down 20 cents and be okay Remember range these stocks have range. You need to size appropriately to handle this range. Um, don't be the idiot who's you know, um Oh, no, I'm sorry. I read that wrong. Don't be the idiot Be it whether it's 20 or 30 cents line to line like we talked about earlier You need to be able to handle line to line in terms of the range and flow So I think you're sizing too large Some stocks range are more than others is the point. Someone asked me I always stop out at the top So this was my advice read this screenshot and proper sizing. So let me find a better one. Um, here's another example guys. I'll be read this to you Um, actually, let's think was even bigger This is great information, right? Telling man. This is the shit Now knows his stuff guys. Now knows his stuff Trading is mostly mental discipline be patient Let the trade setup come to you and don't keep adding to losers Remember you only need a few good trades a day to make your daily pay. So be patient So try it tomorrow be super patient and stock that perfect setup for that trade Concentrate on the entry which is everything and everything will be much easier and rock rules modern rock. Uh, that's as that was his old account. Um So here's the screenshot guys of the other one This was another conversation that I had with somebody to check this Um, Henry, uh, hey, modern rock. I've been following on twitter On your twitter account for probably almost two two years now and just wanted to say, you know, you're a big huge inspiration to me I'm still struggling to become profitable I think the biggest factors that I don't know exactly what to look for when forming a bias on the stock That's why I wanted to reach out to you and see if any advice you can point to me and these were all of modern rocks um Replies go back and analyze your trades. See what trades you were more consistently profitable with Eliminate anything that you were losing on consistently eliminate 50 50 percent of your trades Start with smaller size you will experience that was smaller size You can hold longer and let your game plan play out and not get shaken out with the slightest movements If you're constantly too nervous May mean your trade size is too large If you're constantly stopping out at the top bottom means that you are a part of the herd What you're doing the herd is doing so think what you can do start slower Smaller size start later more patience to wait longer Uh consistency is the ultimate name of the game for a successful day trading career consistency starts with one day Aim for one green day at a time and then two green days then three four, etc Confidence will build your trading will build and good habits will form Uh as consistent as you may think you are do not let one trade wipe out 10 20 356 days of gains Percentage of wins is meaningless if that 1 loss wipes out 90 of your gains Um, just a side note that was my biggest kryptonite as for three years guys is in my trading career You know you get oh tesla's red Yep, holy shit Oh man, I want to chase Oh the fomo baby. See you caught a you caught me in my father dude. That's real-time fomo man. I'm telling you Oh boy. I'm gonna I'm gonna chill Um, so trading is about pattern recognition guys So study the commonalities charts industries types of news filings, etc Not just the price and not just the chart It's cumulative analysis of many factors and lastly It's all experience keep working hard to wake up earlier and stay up later than everyone else. Good luck Sometimes holding on does more damage than letting go use a hard stop So that's it guys That's basically all the stuff that I wanted to basically reiterate that me and bow talked about last week because That's that's trading. It doesn't get more real than that That is what trading that's trading in a nutshell. That is what trading is. So, you know, this would be a great Um video to maybe play in the car and traffic over and over again guys Like just all that power advice that I just said so, you know, we'll post this video on youtube here Probably the next couple days. There goes tesla. Oh my god 240 now Um, we'll post this in the next couple days and guys literally like listening to this video a couple times these are absolute Golden knowledge golden words golden lingo golden terms golden advice from now who's been doing this for 16 Plus years and who's had a very stellar career in this industry, which is not easy You know trading is very simple, but it's not easy Uh, let me let me kick through some of these questions. I think you guys I may have skipped over hopefully so Uh, lots of scanners five years ago from selling that service Doing my first trick or do you speak nice? What are you? Uh Tom if anybody wants to know how to grow a small account hit me up. I'll try my best. Yeah guys. Tom diesel has done a fantastic job Hit him up man. Seriously So should one start from watching the videos or is it in the order to them? So you can mimic one trade and on demand help the learning curve. Yeah, so misc student. Um The way to go about it, buddy is to watch the joe kelly video series Watch the match chicago series. Watch the bow daily recaps. Oh my god tessa 239 freefall. You see what I wanted to chase You caught a real time just like it. Oh man, I should have done it. Um, but I'm I'm focused here. I'm focused here. Um, let's see What are you pretty good trading better from now on mom, my brother Uh, misc student. Oh my gosh, I should have done this orientation when I first started lots of options here Most chats to software dvd in a chat room. Yeah guys who literally like Walks you through a weekly on exactly what to do exact curriculum who to talk to who can help you This is why misc man. We're hands on we're hands on we want to make sure you guys know you're you're taking care of Um, if you can answer faster than talk so that we can mentoring all by you Two points beyond beyond chicken. There you go beyond me Trading ended up like being school to be an engineer. It looks exactly msc Day one while never knew that about limit stops. Yes. Yeah. Yeah, dude. So that's key You know, you come in here weekly or one thing they can save you a ton of money. It's worth it It's worth it Mark with somebody no problem, man. Anything it was most bowels advice today You guys have any questions, man I uh, I mean I'm pretty much set about everything you can and I showed you guys the whole Basically template of how to do this. But if you guys have any last minute questions, we can get these in real quick Before I pass that hell out because I got such a migraine. Oh my god I don't know what if I don't know what dude someone hit me in the freaking head, man Maybe one of my side chicks came in and like caught me on the head when I didn't know She was pissed. She saw my phone Is there a theoretical limit to how many people can short Locate limit. Um, oh like if I understand your question correct. Yes, this is why yes, there is an absolute limit This is why hard to borrow fees brother and and there's only a certain amount of shares So, you know, if cobra is saying, hey, you know, we have 30 000 shares Once those 30 000 shares of Whatever it is. I don't know. I mean, I'll just use the mpi for example, which they you know Nobody had shares of this today literally only One brokerance that I don't even know of Um, you know, if they only have 30 000 and Alex comes in and takes 10 and I take seven and vau takes 13 And you know another guy takes a couple like they're gone, you know, like nobody can Nobody can you know what I mean? Like if there's 30 000 40 000 50 once they get used up and they're used up There is a limit Uh, although people do naked shorting, which I I think is you know, pretty much damn near illegal And they pretend they have shares but they don't have shares and It's uh, it's pretty crazy. I just uh, try to go with the brokers that are doing doing it legit And uh, yeah, I want to make sure the broker actually has the shares man. That's key Damn tesla 238. Oh my god I wanted to chase that at 241 real quick for a quick scalp Could have gotten two dollar Two dollar make your mama holla Uh, wouldn't the edge disappear eventually honestly bro. I don't think so. I mean this is this is a whole discussion up for debate and topics but Here's the thing nobody shorted like seven years ago right now everybody and their mother shorts But guess what if you wake up early enough and you get the the locates the patterns are still there, man Everybody who says the patterns aren't carrying more bullshit. The patterns are completely here We make money every day shorting longing first bounce works the Declined she works these these strategies work bro. I I don't think the edge will ever disappear because we're playing retail panic Uh, when you wait for confirmation versus anticipation confirmation man, you're playing panic all day If you play the right edge, you're playing panic and panic is identifiable and the patterns are still there. So Uh, do I think it'll eventually disappear? I really don't I really don't I used to be scared about these things disappearing now. I don't not at all not at all partner not at all All right guys last chance for a couple last minute questions If not, I'm gonna kick out of here, but uh, let me know if anybody Has any last minute questions or something you want me to talk about um and or my pms are always open So, um, you can always DM me guys or any of our moderators Like I said, I'll just post them. Uh, actually it's right here. Um, talk to my investinclub.com for anything if need upgrades Um, whatever it is guys, whatever it is Oh my god, that's like I can't watch this I can't watch this Jesus I wanted this. Oh god I can't watch Oh Wkhs nice candle there All right guys, if that's the end of the questions, I'm gonna kick out of here I'm gonna keep this short and sweet today. You guys have been amazing I love doing these weekly. I got a lot of people in here You know show up next week guys and we'll do it again and we'll talk about some cool stuff and uh, you know Bring bring questions, you know come prepared and I'll try to answer the best I can As always, thanks buddy Hey traders, this is tosh I go by t bradley 90 into 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 and 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