 Let's have everyone So before I get started, I want to talk about our free two-hour course that we have As if free YouTube videos weren't enough me and Bow went out of our way to Create a free course for non-members It's a two-hour kind of mentorship course for the brand-new trader If you are an MIC member, you don't need to see this. This is mostly for non-members and it's available at my investingclub.co There's limited space every week. Space fills up every week. So Preserve your spot before someone else takes it So if you're new and you don't really know what these YouTube lives are I kind of like to walk people through my daily trading process Walk you through, you know the beginning to the end of my trading on a day like today Talk about how I went through it. What I did right, what I did wrong, and you know how I can improve so First things first is today's Monday morning Over the weekend. I was with James who is one of our moderators. He's kicking ass We went we got some dinner together, then we went out drinking together My body was completely destroyed on Sunday. So I just sat in bed all day Just kind of waiting and preparing woke up early today got to my desk So for me, I like to wake up around five or six in the morning That gives me enough time to kind of put myself together and then walk to my desk As soon as I walk to my desk what I like to do is I like to see which stocks are gapping up I look at the high percentage gainers of the day and then kind of trying to whittle it down from there So after I look at the top percentage gainers on the day, I like to Look at the float look at the fundamentals read the filings and then see if I have an edge on the company or not If I have an edge the next thing I like to do is look at the daily chart Plot out my entries plot out my exits and then you know around 9 a.m. I like to place my fantasy orders and then if they hit they hit if they don't hit they don't hit So there was really nothing new this morning TRNX was kind of a newer play, but I didn't really love it in the morning Kind of looking at the low-hanging fruit the place from the day before I want to trade WKHS I Had some orders out there, but you know by the time the market opened There was only really two stocks three stocks that were moving. It was dare D.A. R.E. TRNX and It was galt was that the one So I mean What I like to focus on number one is I like to focus on the stocks that people forget about So if a stock was moving on Friday, right? I want to be looking to trade that and short that today Because people are already on to the next best stock. They are on to the next one They're on to the shiny object and they forget about what stocks were happening on Friday So coming into the day today coming into the day today. I like to dare the best. I liked TRNX if it kind of rejected the pre-market highs and other than that GALT was kind of An interesting play. So let me walk you through what I did in the morning. So First things first is I was more focused on dare Because dare is a trade a stock that I've traded in the past I know the personality of the stock and I know that you know, usually after the morning move it likes to fade back so in the morning my plan was if it fails 110 and tops out pre-market at 110 and has a double top and I'll take a small starter there Or ideally I'd wait for 125 or 150. So in the morning when we popped to 110 I got like a very small 109 starter and I ended up covering it for 10 cents It was really nothing nothing more than just an easy trade making a couple hundred bucks on that trade And you know, then I start to get a little bit confident on the day, right? I let one trade kind of help boost my confidence. So Going in and watching what else was happening. CLVS was another play that was kind of Interesting to me. So the way that I was watching CLVS is normally I would trade this stock But today I kind of felt a little bit uncomfortable trading It felt like there was a lot a lot of attention on it a lot of eyeballs on it So I wanted to kind of focus on the stocks that people were focusing on and I think galt was one of them This was a chat room pump So I basically waited for the chat room pump tank and then I shorted the bounce and made 10 cents And then shorted the bounce again made another 10 cents. So overall I made 20 cents low stress So just to recap dare. I made 10 cents galt. I made 20 cents CLVS I was just watching I was too afraid to take the trade in hindsight when the stock went red I should have shorted it but in reality I was just kind of waiting for it and didn't really have much action then TRNX or TNXP What the hell that T stock is I traded in the morning very quick scalp for 10 cents And then I kind of left it alone I said, you know, there's not really much meat on the bone There's not really much range on the stock. I'm not really that interested in it So after the morning move, I just kind of left it alone and didn't really touch it And you know, I saw it kind of ramping up a little bit I saw it kind of moving but you know what my rules tell me is that if a stock is holding trend past 10 30 If a stock is above VWAP if a stock is continuously making higher lows and higher highs past 10 30 to me I have no edge shorting that so Coming into the day, you know, I want to focus on the stocks that I had the most edge on I want to focus on the stocks that people were weren't really paying attention to and to me that was D ARE and gold so when those two stocks kind of popped up every single person was watching CLVS and every single person was watching TNXP which gave me the edge that I needed that hey There's not really much demand on these stocks. These are the ones that I should be shorting so Some kind of advice or some tips is that when you are shorting stocks when you are focused on small cap stocks You should be looking to short the stocks that people aren't really paying attention to you should be looking to short the plays that Don't have a lot of people talking about don't have a lot of attention because the more attention that these stocks have The harder they are right so if a stock isn't really being talked about by a lot of people Those are the ones that I like to trade. I also like to do this so Today if you look at my chart I posted in the room on Galt I think was ticker I Let it tank and Then I just waited for the bounce and I shorted the bounce. That's how I made my money I wasn't focused on trying to top tick the stock. I wasn't focused on trying to Do anything crazy with the stock, but all I ended up doing was waiting for it to bounce and shorting it So if you find yourself feeling FOMO if you find yourself feeling Or anxious if you find yourself over trading Maybe the best trades for you to make are the ones that you wait for the stock tank and then you just short the bounce that is The least amount of risk for the most amount of reward Problem is is that people get FOMO and when the stock tanks they just feel like chasing it So that's kind of my advice of how to trade on slower days a look for stocks that aren't really being talked about Be focus on shorting stocks that have bounced after the initial tank and other than that I mean if you see that a stock is holding trend past 10 30 in the morning There's no edge in shorting that setup So timing is important. This is something that we teach in the room, too. You know, we have the zombie rule There's the reverse zombie times So all these little things that you kind of put together think of it as like a puzzle, right? You're trying to get a picture you're trying to paint the picture Every single one of these things the 10 30 rule shorting the bounce waiting for Confirmation all these kind of puzzle pieces fit fit together to paint your picture So always remember that just because it's the zombie times or just because a stock is a little flow It doesn't mean that it's gonna squeeze every time you need to be looking for stocks that are holding trend and use What stocks holding trend they're gonna go higher and then when that trend breaks and the stock tanks It's very easy to sort of bounce on that. You understand? So today we're having questions Slow days are difficult because I mean you feel like the market owes you a paycheck You feel like you have to perform and if you feel like if you feel performance anxiety these days are the worst because if there are no trades You're gonna be the dumb ass that goes and tries to scalp Apple Or something like that because the reality is that I've been prone to it to it's happened to me as well where on a slow day I like to push on stocks. I'm not comfortable with just to feel like I deserve a paycheck and the reality is that's how you lose so I mean about makes a really good point is Just because We are short bias doesn't mean that longs cannot benefit from these types of trade So let me let me explain so For me the way that I feel or the way that my trading is is that I make the most amount of money 930 in the morning to 1030 in the morning Anything over 1030 in the morning. I personally don't make money. I've tested this I've ran my statistics and for whatever reason I suck at trading past 1030 so I eliminated out of my Playbook and now that I've done that I've become more consistent and making more money So something that I want to talk about is okay if I'm making the most amount of short money shorting in the first hour of the day and I keep telling myself that after 1030 stocks bounce and stocks rebound Isn't there an edge going long after those times? Isn't there an edge making money during that and the reality is is that there are a lot of members in MIC who only focus on going long at zombie times and are consistently profitable traders doing so So what they do is by the time I'm done trading is when they start trading They don't trade from 930 in the morning to 1030. They trade from 1030 to 2 right and that's how they make their money so Knowing how a short Trades you could reverse engineer that to how a long should be trading if my area to cover is at 250 if my goal is to cover at 250 because I think it's gonna bounce there Chances are that if you go along at 250, that's how you could make some money, too so again, there's plenty of ways to profit in the market you just have to find kind of what What strategy best helps you there are a lot of traders that make money on the first bounce There are a lot of traders that make money on the death line There are a lot of traders that make money on the first red day. You just kind of have to find what fits your personality So for me again, I've been trading for six years Geez, I've been trained for six years now, right and over those six years I learned what setups work for me I learned what plays work for me and I learned what plays don't work for me So I eliminate the plays that don't work and focus more on my strength So I'm not in the business of trying to fix How do I how do I explain so I want to double down on my strengths as a trader and just eliminate the weaknesses, right? So if my if my trading says or if my stats telling me that I make money until 1030 and I lose money after 1030 I'm not here to try to improve my game after 1030 if I just cut it out I'm gonna get better results anyway So it's just things like this little things like this that over time you learn over time you try to improve and the reality is that Trading is mental man That's why that's what you see me about these daily recaps or these walking recaps because all the videos That we have teach you the fundamentals, right? They teach you how to trade the building blocks of trading they teach you the foundation, right? Anyone could be taught the technical analysis anyone could be taught the setups Anyone could talk could be taught the risk management, but what you cannot be taught is How your mind is going to react When you're up or down a hundred two hundred five hundred a thousand dollars Because it's all fun and games when you're on the demo platform practicing It's all fun and games when you make fucking fifty thousand dollars a day on the demo But when you start to risk real money, you start to realize that oh shit This is a lot more difficult than it seems So we try to do these recaps to teach you and educate you about the mental side of trading The mental side is the most important side that no one talks about because no one's a real trader they don't understand how important this is and Until you actually trade with real money. You will not understand how difficult it really is to stay calm and stay relaxed during a trade so Just a funny example is I'm trade I have a trainer who is an MISC member. His name is Zev and we talk trading while we work out and You know, he was telling me he's like bro. I Understand why you're good at this. I understand and I'm like wow like what is it right so He says bro. You're motionless. You know when it comes to trading. It's either Black or white. There's no fucking red blue orange yellow. It's either this or that And that's the thing if you make a plan in your trading You will have more of an edge because what I've noticed about my trading as well as that Whenever I go into the market Whenever I go into the market and I trade without a plan whenever I go and I wing it because something is randomly moving Chances are I lose because I don't have enough time to think okay. How much money am I risking? Where's my stop? Where's my entry? Where's my exit? How am I gonna do this this and that the best trades that I have personally Are the trades that I pre-plan if I do not pre-plan my trades Chances are I'm going to lose so again. This is trading is not Gambling trading is not a hobby if you treat trading as a business you will get the right returns. So I mean that's just I'm just trying to keep it simple. I mean I was How do I I want to be like kind of very careful with what I said because I don't want to give away too much information But you know the truth the matter is is that these are all the foundations and the building blocks that we teach our members what we've realized is that The members who are watching the videos the members who are putting in the time Are finding consistency the fastest and at the end of the day you get what you put in If you want to only watch an hour videos a day no problem But don't complain that you're not finding consistency in a couple months because the people that are really fucking finding consistency The ones that are making 500 to a thousand dollars a day are watching hours and hours and hours of videos every single day They are obsessed with it. They know everything about it and it is their Dream to become successful doing this and that's why they put their heart and soul into it If you don't put your heart and soul into it If you don't really give a fuck if you're just trying to do this to get rich Chances are you're going to do all your money in a month, right? But if you do put in the time you put in the work, you know your life is going to change So I mean you guys have any questions for me I'm gonna kind of scroll back How old am I? I'm 25 How do you decide between eliminating setups? You're not good at versus improving setups. You're good at So number one is track your statistics, right? Trade interview is something that I use to track my stats. I upload my trades every single day Uh, it gives you detailed statistics about kind of what's working and what's not Um, and I'll give you an example, right? Let's just make it very simple Let's say you are trading the death line and the first bounce Those are the two setups you want to start trading in myc, which is fine. Those are great setups. So Let's say on the death line setup you have an 80% win rate and on the first bounce you have a 40% win rate To me that says eliminate the first bounce from your trading and only focus on the death line And when the death line happens is when you kind of load into that trade so Again trading is about waiting you wait for your setups The death line is I think the best fucking setup ever ever ever ever the problem is you only get maybe once a week And it's hard to be patient and hard to wait for those setups when you see everyone else making money But that's why you got to kind of put your head down and focus on yourself when it comes to that So again, there are plenty of traders that did that same process They you know made money on the first bounce made money on the death line But their percentage win rate on the death line was higher So my advice is just fucking trade the death line Do not trade anything else is wait for those setups to happen and when they happen you make money And that's how these traders are becoming very consistent. They are focusing on one setup They are becoming the master of this setup And then they are attacking Yeah, that was right too. I mean there's always room for improvement But you know if your win rate is low on these setups Sure, trade it with less size until you become more consistent Maybe paper trade this up until you become more consistent But when you're 80 90% win rate trades are there. Those are the ones that you kind of load in on again trading is Trading is It's not that it's easy It can be simple though. It can be simple though I mean as long as you just wait for these setups as long as you just wait for what's been working for you it's just a matter of kind of Slowly scaling up. So so here's an example that I also like to talk about is A lot of people want to get into trading and they want to make thousands of dollars a day And they want to do it on day one and all this stuff. So I mean For me what I realize is this The best way to make money is to start small right start with 100 shares After you are consistently profitable for 100 shares for a month go to 200 shares After you're consistently profitable with 200 shares go to 500 shares After you're consistently profitable there go to 800 then go to 1000 then go to 1200 1500 etc etc Your goal every single day should be to make 10 cents a share That should be your goal every sense day. If you can make 10 cents a share on 500 shares That's 50 dollars a day then slowly Slowly what you do is you start to increase your size You go to a thousand shares you make 10 cents you make 100 dollars Then you go to 2000 shares you make 10 cents you make 200 dollars And you keep sizing up and sizing up and sizing up as you become more and more consistent And that's what people don't understand, right? So just remember that You know when I started trading I was making 10 20 30 40 dollars And now a regular day is three four five thousand dollars And then it's going to be 10 20, you know, it's like all stages and steps. So Okay, that's a good one. So When a lot of people join they're kind of curious. How do I start? Where do I start? What do I do? I just join I'm a member blah blah blah So Uh, I have a video It's called the video library curriculum. It's it's highlighted in green in the video library You click on that and that basically shows you the step-by-step process of which videos to watch So let me start in the beginning. So as soon as you join as soon as you join The number one thing you should do is watch the orientation video We have a new member orientation video that explains How to navigate around the website how to navigate around slack how to watch the videos Every Wednesday Tosh hosts a new member webinar at 2 p.m. For all of our new members asking answering all their questions But the videos in order that you should watch are the trading DVDs that we have right? We have three or four free trading DVDs Start with trading basics with Joe Kelly. This is going to teach you kind of the bid the ask level two It's going to teach you order entry. It's going to teach you stops It's going to basically teach you the foundation of trading, right? After you watch that the next thing that you should be watching is bow's daily recaps After you watch because bow's daily recaps are him kind of recapping his trades Talking about how he found the stocks to trade talking about his thought process talking about his mentality And after you watch that the next video is you should watch other trading fish academy videos These are live trading videos of bow talking about his thought process real time trading the stocks live real time And then after you're done with those you could read and you could watch the fundamental analysis videos Which are how to read company filings Basically the first I think 20 episodes is a very deep Education on how to read filings and then every single episode after that Is about how stocks during that week reacted how stocks? traded Like Chicago trader goes into the filings of the stocks that moved during that week and reverse engineers Why they tanked goes into the filings and tries to educate on what was kind of the red flag in there that led to the stock tanking And after that You know, it's all up to you. You could watch the strategy webinars with austin. Those are every thursday You could watch I mean my video watch list is really good that I put out every single day Oh, that's actually another thing. So for those of you that don't know I put out a free video watch list on mondays It's probably the video right before this basically talking about my top watches for the day talking about how I find the stocks to trade I like to use every monday for free and then I do it every single day for the members So just extra purse for the guys. I mean And then after all that if you're still not satisfied you could hop on a call with austin or tosh And talk about your trading one-on-one. They'll help you try to improve your trading So again, all the resources are there all the assets are there. It's just up to you to kind of Take a shot and try for a month That says the best if you lost more than 179 dollars in one day Chances are that if you just join Study And get better. You'll be making that much money plus more every single day. So I don't know. I mean like I don't want to kind of keep talking about why you should join why you should join after this point You know, if you're if you're still struggling trading and you don't want to improve chances are that you will not improve so Any more questions? Do I miss anything about swinging for the fences? Honestly, if i'm just 100, no, I don't miss it at all, man I mean for those of you that don't know last year I was trading massive amounts of size Trading anywhere between 85,000 to 100,000 shares of any stock at any given point It's making 10 to 40 grand a day Or losing 10 to 40 grand a day And you know, my thought process was That the only way to become a millionaire trading was to trade massive size It was to make fucking 10 20 30 40 50 thousand dollars a day Make fucking 100 grand in one day and that's how i'm gonna fucking get rich Uh, and I did that so I had enough money that I was able to risk And what I learned about myself is that that shit isn't for me, man. That shit isn't for me I love trading. Don't get me wrong. I love it. It's like it's like my thumb I wouldn't know how to survive without my thumb But trading that much size requires so much focus Requires so much fucking mental sharpness so much dedication That I just couldn't I just couldn't do it anymore. That has to become your entire life Right when you're trading that much size trading is fucking 24 fucking seven at that point And what I recognized about myself was that I found myself getting stressed I found myself not eating I found myself taking out My pain and anger on the people that I love the most and overall it turned me into a toxic kind of person So Although I was making a shitload of money I start to recognize that I had a choice. Do I keep making the shitload of money? Or do I focus on my health? Do I focus on my mental health? Do I focus on my family? Do I focus on the shit that really does matter? And when I kind of realized how much the other shit mattered more than making money mattered Is when not only I started Becoming more consistent trading smaller. I actually found a little bit more happiness in my life Right because I thought the key to happiness was to make a shitload of money I thought it was to make you know 100 grand in one day and then go buy a fucking BMW or Mercedes that same day and to celebrate and tell everyone fuck you. I'm the best And what I learned is that for me personally just based on my personality because I've been there and I've done that Trading less Having less stress And being happier Is what mattered more to me than making fucking I don't know 30 40 grand a week Now I make I don't know it depends. Let's say I make four grand a day five grand a day make 20 grand a week I'm still making a great amount of money. Don't get me making four or five grand is a great amount of money Not only am I making Great money. I am still staying sharp I am spending more time with friends family and loved ones and to me that brought me happiness So I don't miss swinging for the fences. It was something that I had to do just to get it out of my system and learn Uh, but now that I've done it and now that I've experienced it Um I'm over it. It's not for me And that doesn't mean because it's not for me. It's not for anyone But I was obsessed with it. I thought this is this is it. This is who I am This is who I'm going to turn into I ate drink sleep fucked everything to trade it It was everything to me and what I realized is if I was that obsessed with it And that's what was uh, and I still wasn't able to kind of push myself to love it Then it just wasn't for me I know plenty of people that are making a shitload of money trading Uh And the guys that I know that are making you know that 30 40 50 thousand dollars a day They are literally Obsessed with trading to the point where they get to the desk at 5 a.m And they don't leave the desk until fucking 8 p.m. They go home They fucking try to improve their trading until midnight and then they repeat and to me that's not living life. So Any more questions? I thought the money would really bring me happiness man. I really did I thought making fucking 50 grand a week was what I needed to get happy And the reality was that that's kind of when I was feeling the most upset because I was so stressed and I felt so alone Didn't she make 600,000 in a month? I made 600,000 in january of 2018. Yeah And that was great and it felt great until I was like now what? Uh, if you want to see that broker statement of the 600,000 in a day, just DM me and m ic and i'll send it to you I got no problem sharing it Plus remember like i'm still You know bow calls me a kid right? I'm 25 years old. He calls me a kid. Maybe he's right. Maybe he's wrong but the reality is that i'm still The way that I trade is very cocky very like Balls to the wall back then and now i've kind of slowed down and tried to take it slower and relaxed and calm down and stuff like that because Shit man. I love trading but I can't let it become my entire life because if I do let it become my entire life It's gonna make me sad So I want to be able to trade the morning make fucking foregrain in one hour And then go spend time with family help the members out and try to improve my life and try to improve everything else because I did the fucking crazy swings. I did it. I did it for a very long time I learned a lot about myself. I learned that I have An amazing tolerance to stress. I learned that I have amazing pain tolerance I learned that Because you gotta think about this There are days there were days that I lost a fucking Ferrari in one day There are days that I lost someone's mortgage in a day There are days that I paid a Prius in locate fees and yeah, it sounds cool. It sounds fun, but Imagine imagine paying a Prius in locate fees and then losing a fucking Ferrari, right? Like even thinking about it now is like, how the fuck did I not jump out of a window when that should happen, right? And it's these lessons that I've taught me How to improve my own trading so again these lessons that me and Bob learned over the years We are trying to pass it down to you and educate you so you don't have to go through what we went through because It was fucking hell man. It was fucking hell and I don't wish that upon anyone, but It's not enough that you have to hear from us. You have to actually want to understand what we're saying, you know So yeah, let's say guys. I think I'm going to Wrap it up here. I have a couple phone calls that I got to make right after this So if you have any questions DM me and m. I see I mentioned in the beginning, but if you're a new trader be sure to watch our free two-hour course at myinvestingclub.co And again, if you have any questions about m. I see if you guys have any questions about me You could always email tosh at myinvestingclub.com and maybe if you're lucky, he'll hop on the phone with you too So that's it guys trying to keep this short and sweet Leave a like if what i'm talking about made sense And I will see you guys Hopefully tomorrow or the next day Thanks