 So it's up everyone today is Monday today's YouTube live day So I kind of want to talk about the trade I took today And then I want to talk about some overall psychology stuff And then I've been getting a lot of questions about the process versus the profits So we're gonna be talking about that too. So number one is Usually Mondays set the tone for the week, right? There's a crazy runner on Monday chances are people are gonna be really excited to trade over the week But to be honest, you know, we're coming off one of the biggest runs in stock market history The overall market went crazy The small cap market went crazy Everything just went insane guys. And you know when that happens, you know, there's no stock chart that just goes straight up You know stocks like to dip and consolidate and then find its way lower So it's the same thing market is hot market slows down market is hot market slows down market is hot market slows down and To previous traders traders have just entered the market for the first time, you know in the past 12 to 18 months, you guys aren't used to a slow market You guys don't know how to trade a slow market, you know, slow markets are very dangerous because you start gambling, right? As traders we only want to trade when there is an edge But lately it seems like a lot of people are gambling out there There's not really much opportunities and I showed up today to the market and Mondays are usually very busy for me I'm catching up on emails and catching up on pms catch up on some back-end stuff So I mean before I knew it the clock was nine o'clock and I had no watch list and I'm thinking to myself like I don't want to just put out a watch list just to put random tickers on there And you know the way that I like to make a watch list I like to put like three to five high probability setups setups that I would trade for myself Setups that I know are going to work and when 9 a.m. Came along I didn't really see anything that made too much sense, you know, I put AMC on there and That turned out to be an okay trade that turned out to be solid But you know, let me kind of just show you guys the watch list real quick So you guys can understand, you know what I'm talking about too So give me a second while I pull this up So this is our morning watch this guy. So I said AMC some resistance pre-market 1370 looking to short 1370 and 14 levels in the morning and pretty much guys if you guys look at this chart right over here 1370 was like a little bit early and then 14 was the golden spot And went all the way down to 1350 So basically guys the watch list itself pays for your membership I know a lot of people are looking for pump and dumps I know a lot of people are looking for alerts But pretty much our watch list guys is the closest thing you could get to alerts without actually getting alerted to So I mean, I just kind of wanted to show you one example of our watch list just basically working You know unlike other people out there, you know, we don't just put random tickers Unlike pretty much everyone else out there. We don't show up one minute before the bell You know, we're here at 5 a.m. Preparing and doing our research and trading like professional traders, right? What you have to do is you have to treat this like a real job, you know, these hedge funds these prop firms They're not gonna hire some idiot that doesn't know what they're doing You know, they usually hire people that are educated. They hire people that have experience They hire people that know what they're talking about and if you're basically showing up one minute before the open and just Waiting for some guy to pump to you. You're doomed anyway, man. You're doomed anyway So again the watch list for the past couple months has been on fire out of three to five plays There's usually two or three that are money on the spot and the other ones. They just don't hit It's they don't hit the lines. You avoid them. You don't trade them You know, a lot of people are like there are a lot of people that have been leaving MIC lately I think a lot of people are, you know, kind of discouraged about having to work A lot of people join and they think as soon as they join that they're gonna automatically make money They think that, you know, as soon as they join we're gonna be pumping to you Or we're gonna giving you alerts on all this stuff and truth of the matter is guys, you know What differentiates us what makes us special is the fact that we do not manipulate or we do not pump to our members And I know a lot of people want to get rich quick. It's the same reason why people are buying lottery tickets It's the same reason why people are buying Cryptocurrency coins is they want one of them to hit and then they're gonna be rich forever But to be honest guys, that's not how you make money. You don't make money winning the lottery You know, the lottery is designed for you to lose You have a better chance Fucking riding an elephant and being struck by lightning while riding that same elephant Then you have winning the lottery. So a lot of people are interested in getting rich quick and to be honest That's not what you're gonna find here. I mean, if you're looking for get rich quick places I'm sure you're gonna lose all your money in a matter of months. So a lot of people have been saying, oh Like this is not what I expected, you know, I thought there was gonna be some sort of alerts I thought there was gonna be some sort of text messages I thought there was gonna be a live screen share and You know, let those people leave let those people go Because at the end day those people are gonna lose all their money anyway And the people that decide to stay are gonna make money So that's just something I want to kind of mention is be careful about all these pumpers Be careful about all these rooms. A lot of these guys were not making money until they started pumping So be very careful with that stuff. So Let's kind of get back into trading. So the watches today was AMC was kind of main one 1370 and 14 It was a little bit stronger than I expected as you guys know, there's a lot of Wall Street Bets people there's a lot of people that are buying these stocks just for the hell of it and You know, there's still a little bit of momentum there. So I kind of covered out You know, I made less than a thousand dollars and you know, it's kind of discouraged, you know Showing up excited to work ready to make thousands and thousands dollars I only walked away with 900 bucks and then bow said it very good He was like I was only up 1600 dollars today and that was more than I made in my engineering job So, you know oftentimes no matter what level you are on you always compare yourself to people that are having More money and what I've been trying to do to kind of help me get over that is It's because it's a very common problem. You see it on internet. You see it on Instagram You see on social media There's always someone making more money than you and what I've been trying to do is I've been trying to say that When I see someone making more money than me or when I see someone kind of doing that I think to myself, alright, this is what is possible You know, it doesn't mean that I'm gonna be that guy But it means that I it is possible and I use that to motivate me and to continue to push me to keep trying to get better Right because I know that I'm a lot smarter than a lot of these other people out there So if they could do it, why can't I do it? So if you guys are kind of getting discouraged by seeing other people make money if you guys are kind of getting discouraged by You know, why are you not there yet? Just remember that, you know You're maybe been trading for six months. Whereas other people been trading for six years, you know, so That's just another thing that I want to mention Um, I've been getting a lot of questions lately guys about what is the difference between process and what is the difference between profits, right? And before I might see not a single person in the universe was talking about process not a single one They all laughed at us. They said you guys don't know what you're talking about What the fuck you talking about process and now every single person swears by it So I kind of want to talk about what is the difference between the process and the profits that you come right and Someone posted a funny meme in m.i.c. And it was like a heart rate monitor And basically the meme said that keep this heart rate monitor on and when it starts going crazy That probably means that you are in the wrong trade and that has a lot of uh Parallels with what I learned from dr. Steambarger So dr. Brett steambarger was my trading coach for about six months or a year And we came up with a lot of great concepts together and the number one thing that we came up with is stress in your trading So he said trading is supposed to be boring It's supposed to be Putting you to sleep if you're doing it right If you are looking for action or if you are trying to get that rush chances are you're doing it wrong And oftentimes when you are trading and you are stressed in a trade That likely means that you are in the wrong trade So you should be using stress as your indicator to be able to tell you When you should be in a trade and when you shouldn't be in a trade If you are stressed chances are you should be out of the trade So the point that i'm trying to make guys is And i might see we have a very very very great process And the reason why we have this great process because we lost money for so long trying to figure this out right So i'm just going to give you a very quick spark notes on it I'm going to give you guys a very quick recap on it You know, we have a lot of videos on these topics, but I just want to make sure that you guys understand So first things first guys first things first is misc process Requires you to set a max size And a max loss at the broker level because the most important thing in trading is your seat belt Would you drive 200 miles an hour in a Ferrari without a seat belt? No So why would you try to trade without some sort of risk parameter without some sort of seat belt in place? So the number one thing that you have to do is manage your risk To make sure that you do not blow up and make sure you have the ability to trade tomorrow That is max size and max loss at the broker level Additionally, you have to be using hard market stops. Okay, so that's number one So even before any of your trading even before anything First thing you have to do is put your seat belt on right? You don't start driving until you put your seat belt on now that you have your seat belt on The next thing you're going to do right is you're going to basically educate yourself and watch the videos You know a doctor is not allowed to operate until he goes to medical school for eight years A lawyer is not allowed to defend you until they go to law school for five years So shouldn't you be going to training school for at least one year while you learn how to do this? So that's the next thing education After that what you're going to do is you are going to set up charts You're going to draw your lines and basically what you're going to do is you're going to sit back in m.i.c You're going to watch how bow and i are trading you are going to take the watch list Do your paper trading do some fake paper trading so that you could practice And then after that you're going to see what's working for you You're seeing what's going to fit your personality and then from there You're going to have the same routine that you do every single day The reason why a bow could show up and trade sometimes when he's drunk Is because his process is so ironclad that he does it without thinking So think about something you do without thinking it's like riding a bike You know you could ride a bike for six months and then hop off for three years And all of a sudden all you need is maybe like five minutes on it Maybe even less maybe one minute on the bike to remember how to pedal and to remember how to do everything again Trading should be the same way trading is very routine oriented So a big thing that helps me guys in trading is I keep a routine every single monday, right every single monday I do the same exact thing Exact same thing. I have my routine. I have the exact same thing. So I'll give you an example, right? So every single monday, I wake up at five a.m First thing I do is I go to the bathroom. I turn on my computer and I answer pms I answer emails and I work on a plan I see what stocks are gapping up if a stock is gapping up over 20 or 30 percent. I'm interested I look at the filings. Is there any dilution? I look at the chart. What is the float? You know, where's resistance? What is the news, right? So I do all of these things every single day when I wake up so that it's robotic, right? I'm not waking up flustered. I'm not waking up one minute before the bell. I'm not waking up Before anyway, I'm just basically showing up and doing the same things I do every single day So the reason why I give bow as an example is when he wakes up and he's a little bit intoxicated You know, all he's doing is he's doing the same exact process that he's doing when he's sober Except now when he's a little bit fucked up, you know, he's taking it a lot slower He's setting his fantasy orders because he's too scared to fuck up, right? So again guys, the reason why I'm talking about the process and the reason why I'm talking about the profits Is because today I stuck to the process and I made 900 bucks Tomorrow I'm going to stick to the process. Maybe I'm going to make $5,000. Maybe I'm going to make $50,000 Maybe I'm going to make $100,000, right? The point is I don't know what I'm going to wake up to I don't know what's going to happen. I have no idea. All I know that is constant Is my process that allows me to make money consistently. I wake up and I do the same thing every day I trade between $930 and $1030. I walk away at $1030. I walk away at $1030 because after $1030 I start gambling. I take all that money that I made and I start gambling with it because I'm bored And what I realized is if I cut myself off That's how I could attain and keep my money, right? So again, the point is guys that I don't know what I'm going to wake up to I don't know if it's going to be a great day. I don't know if it's going to be a bad day But the thing is with the process with my seatbelt on even if it is a bad day My loss is going to be mitigated. I'm not going to be out of the game forever So the only thing that can stay constant in your trading is your process is your routine is your plan And everyone's very ambiguous with the process. What is your process? What is the fucking process? What is process process process process this this this crap is a magical formula, right? Truth of the matter is the process is your routine What are you doing every single day that is staying constant, right? Constantly part of my process is walking away at 10 30 No matter what even if there's an earthquake even if there's a fucking hurricane at 10 30 My process tells me I have to walk away My process tells me I have to use hard stops My process tells me I have to use a max loss and a max size at the broker level My process tells me to not be shorting easy to borrow low flow SSR stocks on day one So these are the things that remain constant guys These are the things that no matter what happens in the market. They must stay constant Okay, so the next time you are trading remind yourself or think about what is staying constant in your trading for me I have realized that I am not a good channel trader. I'm not like bow I can't short here cover here short here cover here short here cover here for five hours straight. I can't do that It's not my personality bow's personality is more of a control fee He likes to have his hands and a little bit of everything and it's the same thing in his trading He likes to have his hands in this stock He likes to have his hands in that stock whereas me I'm the type of person that wants to be as efficient as possible I want to be able to do the least amount of work For the most amount of pay because I got a hundred other things that I got to work on right So based on my personality based on what I got to do. I got one one hour window I got a one hour window to trade and in that one hour I got to make all my money because after 10 30 is when my window closes and I need to walk away You know A lot of people are ambiguous a lot of people are vague a lot of people are winning every day A lot of people you got no fucking clue what they're trading But what we like to do is we like to wake up early. We like to pre-plan our trades We like to follow the process. We like to walk away And last year I made a million dollars trading one hour a day You know this year I'm up 1.5 million half of the years over trading one hour a day guys So if I could do it with a $30,000 account, you guys could do it too And remember if you see these guys on the internet making a hundred two hundred three hundred thousand dollars a day When you have a 10 or 15 million dollar account, I will teach you how to do that too But until then I'm going to teach you guys how to make a thousand dollars a day until you die Okay So let's open up to audience q&a. So that's kind of the main topics I want to talk about so Oh, this reminds me so before so before we get into the q&a. Can you guys see me? I think this should I think I lost you guys for a second Because let me know if you guys can see me real quick You guys see me. Okay. So two things guys two things um number one Is we are introducing a brand new channel into mic So i'm going to post it right now But basically We have now implemented a new channel in mic called networking hobbies and travel So I know we have after hours and I know that a lot of people are shy and they don't want to post in after hours After hours is where we post the memes we post all this stuff But one of our moderators steven came up with the idea He's like man a lot of people have been asking me about like Networking with other traders a lot of people have been asking me about like talking about hobbies Like maybe they're into woodworking or maybe they're into construction or maybe they're into racing A lot of people have been telling me like hey, like I've been traveling a lot like where should I go? So we implemented a new channel called networking travel and hobbies So if you want to talk about your hobbies, you can talk about it in there If you want to network with other traders, maybe you have a restaurant in florida And maybe you need some help in florida or maybe you want to start a new business And you know someone else in mic that could help you so What makes mic special guys is everyone inside of our community is very motivated and very dedicated It is very hard to find good people in this world and in mic We have 2,000 incredible people in this world. So why not try to bring the community even more together? Let's network together guys. Let's do some teamwork together Let's try to help each other grow if you have a business that you think needs help Let's try to help each other out right so now you join mic to learn trading But now you're going to stay because there's other people that you could learn from there's other people You can network with fucking man. If you guys want to have a networking webinar Let's have a networking webinar if you guys want to talk about side hustles and side businesses Let's talk about side businesses If you guys want to talk about where you want to go on vacation Maybe there's been other members that went to that same place and have different experiences So again guys, this is a community. We are here to come together. We are here to help each other out So that's number one Number two is we are implementing something called the member of the month So going forward guys, we are going to pick one member every single month that goes out of their way to help other members the most Someone that is participating someone that is helping and we're going to pick a member of the month every single month And what this member of the month is going to get is they're going to get some free mic swag They're going to be interviewed on james and harry's podcast the after hours podcast And then number three on the wednesday webinar with tosh. They're going to come on and introduce themselves and maybe You know, they have some help that they could help other members with so We have a new networking channel. We have a member of the month So we'll probably pick this month's member of the month by the end of the month And again, if you don't get picked, please don't be discouraged We got 2 000 people to pick from but just remember that we are going to help everyone out and maybe Fuck it. Maybe I'll do a short facetime with the member of the month too Maybe I'll hop on a 10 minute facetime with you guys too and see mentor you guys For free obviously and maybe we could just shoot some shit guys want to talk about trading we could talk about trading You guys want to talk about cars we could talk about cars if you want to talk about espresso We could talk about espresso, but You know our goal in mic guys when we started since day one was to bring traders together You know trading is very lonely man. It is so lonely. I feel I feel so alone sometimes man Like I hate it. I hate it, you know, I have no girlfriend I don't have anything that I feel very alone sometimes and Being in this community makes me really happy and sometimes I kind of lose track of happiness So just being here with you guys being able to share my experience is being able to be an open book with you guys I mean I know our plan for mic was to do meetups and because of covet We haven't really been able to do meetups lately, but that's all coming back soon So, you know, just know that when you are in mic, you know, our job is to just help you right It's to help you and you know, sometimes we forget to help ourselves and that's difficult but you know when we have things like networking when we have things like Trying to help other people, you know with their hobbies. I mean my hobbies are I love driving cars, right? I love driving cars and I love woodshop For something something about like I took woodshop like three or four years in high school And I made like a chair and I sold it to the secretary in high school I just something about woodshop like I love working with like a band saw a table saw. I love all that shit So to me woodshop and woodworking is really cool. So like if I had a member in new jersey that like has a woodshop I mean to me it'd be kind of cool to just hang out with them, you know, we both like trading we both like woodshop I love cars so Over the weekend. I was at a car meet in new jersey And this was a free car meet a lot of exotic cars all this stuff and you know, I said to myself Why don't we do an m-i-c car meet right m-i-c trading and coffee they got cars and coffee Let's do trading and coffee because a lot of traders are very passionate about that stuff too So I mean what I'm planning on pretty soon is I want to do an m-i-c car meet in new jersey So I don't know the details yet. I don't know the plan yet But basically what I want to do is I want to just bring a bunch of traders together Let's talk trading. Let's appreciate other people's cars and let's just have a good time man So that's kind of what I want to do. That's something that I'm passionate about I'm passionate about trading and I'm passionate about cars. So why not do a trading car meet-up? So that's coming soon guys I'm working on it But yeah, let's open up to q&a. So if you guys have any questions, let's put it here and then let's do like a five-minute q&a I was surprised to see a lot of m-i-c traders not getting stopped out over 14 I was going to set my stop at 14. I have three you should I be risking more It all depends on your plan for me. I know that amc it likes to push and reject So I knew that if it pushed towards 14 and then came back That's kind of what I would be looking for Whereas if a stock broke high the day, I would not be interested in touching it So maybe leave the stops a little bit more loose Do you use a little bit less size to give yourself a little bit more wiggle room? Do you think the market is back to normal or what? I mean the market is kind of slow right now I mean when I'm making 900 to a thousand dollars, it's kind of slow I usually average five to 10 grand, but yeah How long into your trade and did you realize at 10 30 was the exit time about three or four years into my trading It took me to learn that Been struggling on the long side lately. Would you say it's worth learning shorts or just keep with the longs? I mean, this has not really been a market for longs. I would paper trade your short setups until the market heats up again for the long If you miss a trade or stop out, how many times will you go back before you write it off and move to something else? So this is something I learned at s and b capital when I was trading there guys And this is something that dr. Brett's heart me as well. He's like think about it at baseball Three strikes and you're out. You got three tries on the stock If you fumble all three tries, you are fucking out. So that's just a very easy way to keep it guys Let me see if there's any more questions coming in But yeah guys are these videos informative because I try to help you guys as much as possible But I know that sometimes this may be a little bit more advanced A fantasy order is basically a limit order waiting to execute So for example, if a stock is trading at $13 and the plan is to short at 14 You will set a fantasy order at 14 and wait for it to hit Other people are calling them wish orders now I wonder where they learned that from Anyway guys, this video went on a little bit longer than I expected. I know you guys like a short and sweet So i'm gonna wrap it up. I'll see you guys in the new networking channel. We'll announce the member of the month I'll get on a FaceTime with them and Yeah, that's basically it. So this is basically I mean, I I mentioned to everyone that MIC is the best kept secret out there Because no one really knows we exist yet, right? You know, we don't really get too many views on our videos We don't really get too much attention on our videos because i'm not showing some hot girl with nice boobs I'm not showing a lambo. I'm not showing a Rolex So our growth has been a little bit slower than anyone else But I promise you guys if you guys give us a try There's a 99 99% chance you guys will not leave so leave a comment Leave a like subscribe and I will see you guys next week and remember bow is doing an instagram live tomorrow at 11am market time So go to instagram.com slash my investing club. Follow us and I'll see you on bow's instagram tomorrow. Thank you guys