 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 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, Tash, 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. I was planning on bringing, you know, another model, fucking Joe's here too. I was planning on bringing another mod here on like maybe Harry or something like and have like a three-way. I mean, we might, I mean, who knows if we're all here, we might even just have a group. So today, like, today was an awesome day in the market for shorts and I want to kind of go over like the kind of state of the market that we've been in because it's definitely changed in the last, in this last week. So I definitely want to go over some of that. Without further ado, let's get started. Today we're going to go over the key traders of the week. I want to go over some of the charts that I think are kind of, you know, showing a ship and sentiment. We're going to go over the market sentiment. It's going to be a little heavier section this week. And then I want you guys, I mean, this would be a fun voting session. I want you guys to pick, you know, you know, anything that you have questions about this week, you guys will all vote on a topic. So start thinking about something that you guys want to talk about something that collectively you guys are really struggling with. And we'll give that, we'll give that some time. And then I want to go over all the bad habits that we have as traders. And then like, so I asked this question to everybody in weekend mentoring and we got some good answers on, you know, whether, you know, whether or not we want question and answer kind of all at the end, sometimes in between, you know, sometimes in between or a little, or a little bit of both. And you guys voted for a little bit of both. So that's what we'll do. Okay. So I want to go over these two trades because these two trades I kind of fucked up on. So I want to go over what I did wrong on these. And one of these, I think I did it correctly. And the other one I fucked up on. So MRIN and grill were both stocks that kind of surprised me. Both of them kind of let me. This is these two stocks both kind of let me know that the market was into a more punishing market for the front side and a more rewarding punishment, a more rewarding market for the backside. These two stocks both surprised me with their range all the way back up to high a day, both of these stocks, I almost thought we're going to be somewhat low hanging style, low hanging fruit kind of trades. Like this one barely MRIN barely had any volume, like we're less than a hundred K down here and we just grinds all the way back. What I did wrong with MRIN was I didn't cut it when I didn't cut it when my ads didn't, when I, when I added to the position and I didn't get rewarded right away on the ad, I should have cut it like I did here. I sorted grill here, I covered it, you know, I put the shares back on and it ripped up and then I covered the dip because I knew that my range here, my idea of covering this, this lower high failed once we got this high and I covered it immediately. But this is one thing that I fucked up on MRIN, right? I just kept adding and this is a mistake that I had in the middle of the week that, you know, I'm ashamed of now, but I mean, it happens. And so like this is where like I'm sorting into this, into this range here and we get a little spike up fail and then I add on the dip. And the second we come back, the second we don't just kind of fail right here, I should have covered right here. I should have covered right here, but I got stubborn with it. I let it go. I just didn't want to the volume wasn't convincing enough for me to cover and I just didn't respect the price action enough. And, you know, like I put one last ad, which shouldn't have even been on the table right here above high a day, cut it right away. So I didn't, you know, it's not like I lost much on this ad, but I shouldn't, you know, the trade should have been cut long ago when it's holding you up. And it didn't on this red candle, when it didn't take, I really needed to cut the trade, but I didn't. So one of these was correct and one of these was incorrect. And it stems from the fact that when I didn't, you know, when, when my, when my ad, my last ad here didn't get rewarded. I needed to downsize or take it off. But it's more like a grinding move, right? When you show it back and rain and it's no good. I got caught in the grind. I definitely got caught in that grind. And that doesn't happen to me very often. So a little disappointed in it, low highs too. Yeah, I got a little bit of stubborn with it. And you can see, I added this, like I was literally looking for a pullback. Like this isn't that like fader of a cover. Like I was really waiting for one pull. And when I didn't get it here, like after this, I caught it right there. When this tank didn't happen, I sort of, I sort of let it go. But, you know, great cut though with race management. I feel this one, I like this one. It's just larger than my average loss. Let's put it that way. Anyway, so PSCI was a trade I had earlier this week. This is a good one. Yeah. This one I really like. So one thing that, that bow even touched on this today. And, and I did, I did, I did the exact same thing on this trade that he mentioned today that he did on, I forget which stock it was. It was near the end of the day when it pushed you up. Oh, it was, it was, um, mosey today. So like, I cut off here, but pre-market high here is about 940. Pre-market high is 940. And so I had a starter here, like, like 918 or something like that. And my goal was to add, you know, I'm going to cut it if it just blows 950, but if it rejects 950, I'm going to add there. Now a lot of people asked me when I did this, was your order already there? And I'm going to tell you my order was not already at 950, but I had planned on shorting it at 950. I just wanted to make sure that it didn't blow straight through pre-market high. The, what I wanted to do was wait for a slight hesitation at 950. And then I put the order back at 947 or 944 or something like that. So I actually waited for it to reject first. And once it told me that it was rejecting, you know, like the pre-market high was, was it looking like a duck? It spikes up. That's where I wanted to see it act like a duck. And the second it started to act like a duck, I felt like I had a duck, right? I felt like the resistance is going to hold. The second it rejected 950, I then put the order there. So it's kind of a half and half fantasy order, but in the open, when the volatility is so great, I don't really want to be just throwing risk out there. Right? Like, I mean, especially for a new trader, fantasy orders are good. But at the open fantasy orders can't like at the open, the volatility can truly just break your expectation of range, especially when, when we're in this market, everything just going absolutely nuts with these 500% runners. Yeah, I can rip and teleport literally everywhere. So literally, I had a half and half of a fantasy order here, right? I put a starter on the feeler just in case it wants to pop and die. At least I get something that's like the little FOMO entry. But, you know, the difference between this is, is I had a pre-planned entry. I just didn't, I just didn't want to anticipate it. Where would be your stop here at right at that candle? Right. So I mean, my stock would have been if it blows through 950 or 60, I honestly don't know where I'm getting out. And that's why I'm getting, I have a feeler. Like I know I'm getting out. I just don't know, like, I mean, slippage could get me out at 970. I'm going to try to get out at 9, 950 or 60 with that starter. But once it stops and starts to stuff and I put the ad on, you know, still I'm going to cut it at 950 or 60. Like, like, like the thesis for this is pre-market high is going to hold. If pre-market high doesn't hold, I'm not sticking around. Yeah, you have to get out. Yeah. Like I'm not sticking around. So it's, it's almost like it pops up and, you know, if it starts to, if it starts to act as resistance, I'm putting you over there. And if it doesn't continue, peace out. Like I'm not holding on to that risk, especially in the beginning of the day. I tell, of course, you know, like me, I just like full dollar wash targets, that's very classic of me. You know, it went lower. I don't care. Like I got my targets. How has your mindset changed from being inconsistent to consistent? Yeah, my mindset. Yeah. Like how was your mindset different from when you first started to now? I mean, it's, it's really different. You know, when I first, when I was inconsistent, like basic, I don't want to swear, but my mindset is pretty fuck, right? I mean, I don't have a process. It's like, you know, I'm trading everything that, you know, like trade on a fly. Just, I'm just trading everything that moves. So that's basically, but for now, like when being consistent, like, you know, you found something that's working for you, right? You found your edge. You found something that, all right, shit. I mean, this is the one, right? And I'm making money every day on this particular setup, right? So it kind of switched my focus completely, like from being able to make this type of money every day consistently due to, um, compared to the other one, like, I don't know what the fuck I'm doing, right? I mean, it's like a show, like showing up every day, waking up every day. I don't know what to look for, uh, like before. And, and it's like, uh, it's more like gambling to me before, uh, when, when it started trading, but now, uh, after learning the right process, the right, you know, tools here and, and, and my safe. And I started realizing, like, you know, I tracked my winning trades. Uh, I saw some commonalities and everything, you know, like on this particular setup, I made money here and make money there, but on this particular one, I made like the outcome of a hundred trades, 1,000 trades, right? And like, uh, out of, you know, a hundred trades I made, you know, like the winning is at least like 60 or 70, you know, trades that was on, on, on, on, on the winning side, I said, you know, that's, that's pretty good. So why I just can't keep doing the same thing over and over again. Like, you know, just keep repeating that like every single day. And it's like, I like to, to kind of think about that way is like, uh, when we're trading right in the market, I just think that there's money for me to show it up or like, uh, you know, or just to pick it up, right? From the market, but you just have to time it right. Timing is really crucial. Timing is really important. I think Bao said on his IG, I mean, timing is what's going to make you rich, not knowledge. I mean, knowledge. Yes, you can apply all that, but timing is really key. And my mindset kind of, you know, switched to that and I have to be patient. I have to be disciplined waiting for that, you know, entry, right? And like the timing waiting for that moment, there's like certain window for you to come into the market. There's money lying there, but there's just like, I kind of like to think of it like a small window, right? And when, when it's open, you put your hand there, you pick that money up and it's close again, right? You have to kind of run. It's so that's pretty the analogy here. It's pretty much the same. So that's my mindset right now. I know what I'm looking for. Why don't wait for that, right? All right. I'm signing off now. Yeah. All right. Thanks everybody. Right on. 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 trade questions, please text us using the number here. Also, stay up to date by watching some of our most recent videos right over here.