 What's up, everyone? So today is Monday today's YouTube live day. It is March 29th I think the end of the month is coming soon Just a reminder Friday this Friday is good Friday. So the stock market is closed in Observance of good Friday. So it is going to be a shortened week this week. I totally forgot about it until today So just remember that Friday is no trading so What happened to me last Friday? So? Couple things that I want to talk about is I pretty much deviated from the process last week I've been on a very very big green streak For that loss I was up about 1.5 million dollars in about three months and It was just left and right. I was doing very well every single day five ten fifteen twenty thousand dollars a day and it got to my head and you know what happens in trading oftentimes is When you are the most confident in your trading is when you are the most vulnerable in your trading Because you start to play the cushion game. You start to be a little bit more loose You start to not manage your risk. You start to not Respect your stops. You start to trade based on emotion rather than based on process. So I am guilty of this I Fucking lost a bunch of money on Friday lost about a hundred grand And that really hurt it didn't hurt because of the financial. It's not like I'm bankrupt. It's not like I'm dead It's just the fact that you know, I don't want to be taking six-figure losses in my career anymore You know, I've had so many losses I've fucked up so many times and I'm just sick of it I if I lose ten twenty thirty thousand I can make it back in a day I can make it back in a week and I'll be able to make back this loss It's just gonna take some time But the emotional damage the mental damage that it does to you is what I want to talk about here guys, so What happened and you know, what can I do to prevent this and you know, what are some steps? I'm doing to kind of learn from it, right? So on Friday, we had two Chinese names wafu and EIQ These stocks were at like $70 pre-market EIQ hit $70 pre-market and wafu hit like $35 pre-market And what ended up happening on wafu is went all the way down from $35 to $7 and to me that's broken To me that says every single buyer above pretty much $7 is underwater and if there is any type of pop They want to be able to sell into it So what ended up happening on that is You know right at the market open the stock went from seven to eight to nine dollars And I'm over here getting really excited. I'm like, oh my god bring on ten bring on eleven I'm gonna attack this it's down from 35 bucks. This thing should tank right it should tank So I started shorting it at 10 50 like around 10 10 50 because that was my plan My plan was if it gets worth $10 if it bounces like that It should be a short that set up works nine times out of 10 right nine times out of 10 that is going to pay me out so stuck to my process I did what I Normally do but what I fail to do is I fail to do my research ahead of time I fail to realize that the stock was a one million share float Which means that if I wanted if bow wanted we could buy the company ourselves And we have a rule if someone could buy the company if bow can buy the company We are not allowed to short it but Because I was on such a hot streak because I've been doing so well because I have been In the matrix I fail to do my research I was using my ego to trade the stock rather than my process to trade the stock and what ended up happening is A chat room pumper came in and started buying it at 10 11 12 at this point I'm already at my max loss and I need to get out right I need to get out and What ends up happening on these halts when the stocks are halting up There is no liquidity to exit because it is a panic people are panicking to get out So when the stock is at 13, I'm trying to cover at 14 it jumps to 15 I'm trying to cover at 15. It jumps to 16 And all of a sudden it's just jumping dollars jumping dollars and before I know it You know, I'm out of six figure loss and I'm so pissed and I'm revenge trading, right? I'm I'm doing everything that I shouldn't be doing and that is because I have been on such a hot streak That I felt like I could not lose, right? And I needed this loss to humble me down I needed this to kind of get back to basics and to be honest the whole weekend I was doubting myself I was saying Fuck man, like I'm kind of sick of this shit. Maybe I should stop trading like I'm done with it Maybe I should cash in my chips and just walk away And then you know, I had a bunch of people kind of texting me and reaching out to me friends and stuff Like that trading buddies and saying like don't forget what type of killer you are Don't forget the animal you are don't forget the type of person that you are, you know We all go through these slumps. We all go through these losses Trading is like a chart, right? Think about it. Your chart is just not going to go parabolic forever It has to pull back consolidate before it makes its way back higher I was going parabolic without a single pullback and I needed this pullback to get back to Uh, the next high, right? So I mean, it sucks. I mean, I'm not It's not really the end of the world, right as I hop into my sports car as I get into my house as I wear all my jewelry as I have You know, no real big bills that I have to pay, you know, I remind myself that shit You know, I need to just be able to control myself and control my emotions Especially after a winning streak. So I need to be more self-aware of this stuff. So that's number one That's how I fucked up and I know what I'm going to do to fix it Now number two is what do I do in terms of trading to make this thing better, right? So When you lose no matter what type of level you're on, let's say you make $10,000 a year. Let's say you make a hundred thousand dollars a year. Let's say you make a million dollars a year It does not matter what level you are When you lose money in the markets, you lose your confidence in the markets You lose your confidence in your abilities and I lost my confidence in my abilities Still up over a million dollars this year. Why should I not be confident? But that is the mental struggle that trading is Trading is mostly mental guys. We could teach you guys the technicals We could teach you guys the process But unless you have like a community unless you have people to kind of help uplift you when you are down You are doomed cannot talk to your friends about losing a thousand dollars ten thousand dollars a hundred thousand dollars I'm gonna think you're fucking crazy. You need to be talking to other traders. So the value That I found myself in our community of misc's I got 50 dm's from people. I got 10 text messages I got people on instagram that I've never met in my life telling me that I'm gonna fucking make it back So just having that mental Uh, just knowing that I'm not in it alone Just knowing that you know other people have gone through this and just knowing that All of the people that I have helped are now trying to help me kind of gives me that Inspiration that I needed to keep going right and after a loss guys There's one thing that you have to do and you have to get back your confidence And how do you get back your confidence after a trading loss? To be honest guys, all you have to do as minor as it sounds as simple as it sounds is you need to show up the next day Stick to your process that gave you those profits in the first place and walk away green If you make a thousand dollars normally a day Make a hundred dollars just prove to yourself Get your confidence back Prove to yourself that you can do this long term prove to yourself Right because in trading nothing is ever 100 percent that setup that I traded on friday Works 90 of the time and that 10 percent of the time it loses I need to make sure that my losses are capped and my losses are under control better This was a special case scenario because the stock was just halting up and halting up and halting up There was no liquidity exit. It was impossible to get out and you know what? I learned my lesson do my research before every single stock no matter what type of win streak I am on I got lazy and I paid the price and this is okay guys This is me coming out and telling you that I fuck up a seven figure trader fucks up You know, even if you're making 10 20 30 million dollars a year trading you will fuck up It is bound to happen. You know trading is not easy guys. It is not easy But if done right you could make so much money. I just I just screwed up. I got too confident. I was going too fast And I hit a speed bump and I just fucking flew So that's kind of what happened and then today I came back to the market I sized down a little bit. I walked away green at thousand dollars I gotta do this A hundred more times to make back the loss, but the point is that right now in this very moment I am not thinking about the loss. I am thinking about how can I show up today? How can I show up tomorrow? Be green stick to my process and walk away a winner Okay That's what I want to talk about today. So do you guys have any questions for me? We could open this up to a brief q&a guys So if you guys have any questions, we could talk about it now and we'll go through everything right now together No, I didn't paint that picture. I got it on the instagram ad So any questions guys? Yeah, I mean we all lose guys if there's anyone on the internet that doesn't lose that probably means that they're a fraud You know, I hate that I have to lose in such a public way But at the end of the day, I should be fine. I will be fine. It's going to take me some time to make back the loss But you know, I've been in this place many times before and all it takes is to make it back brick by brick Do you think you will trade game stop anymore? I mean if the edge is there I'll trade it but right now there's not really much edge I traded w ke y today Short of the 18 line Yeah, I just got lazy guys. I was so confident. I was doing so well for so long that I Really just got lazy and now I know What my when you get to this level, you know what you did, right? And you know what you did wrong and you know how to fix it as a beginning trader You don't really know what you're doing wrong yet And that's why you kind of need a mentor but to be honest guys if I didn't have m. I see and if I didn't have this community Maybe I would have taken a month off from trading Maybe I would just given up completely right and the power of having a community and the power of having people to Lift you up when you are down is very important because not many people understand The mental aspect of trading unless you're a trader yourself And you know in m. I see we have a community of Thousands of traders that have gone through this before that understand it that could help you And if they're able to help me They'll be able to help you too. So any questions guys What will I change in my process to avoid this kind of loss in the future is to do more research before the stock is to Be more strict with my 30% rule I was oversized on the stock on front side because of my ego So if I just stick to my process, which is the 30% rule Which means I am not allowed to use more than 30 size above vwap. I will be fine Like I said guys when you are on a winning streak when you are on a big winning streak Is when you are the most vulnerable Like to be honest guys like when I lose money It's not the money that gets me. It's a disappointment in myself that I let it get to that point, right? so You know when I lost on friday, I didn't want to work out I didn't want to eat. I didn't want to leave the house. I didn't want to drive my car I didn't want to work it poured into my real life so hard, right? So hard that I hate the fact that it does that but We need to be able to have these losses To really appreciate the good things, right? You know, what is the point of having good things or doing nice things or whatever it is If you don't understand the pain of what it's like to possibly lose those things, right? So, you know, to me Sucks doesn't matter what type of Trader you are what type of money you have you lose money. It sucks no matter what I The feeling of losing $1,000 and the feeling of losing $10,000 and the feeling of losing $100,000 all the same But it is how you rebound from it that matters So here I am coming back Green slowly Maybe it's going to take me a month to make it back Maybe it's going to take me two months to make it back or maybe it's going to take me a fucking year to make it back Probably not but I'm not coming in with the mindset that I have to make it back I'm coming in with the mindset of let me rebuild that confidence Let me show up. Let me stick to the process and before I know it it'll forget Someone asked what is the difference between front side and back side? You could look up all of our videos on that. We have free videos on that and You know another thing that it's very key to talk about is what happens after a loss Do you revenge trade or do you walk away? And most of the times what happens is let's say you lose $1,000 trading You start to revenge trade a random stock and you end up doubling or tripling your loss too And that is where a tab A trading accountability buddy comes in so You know the power of m i c is right now. We've matched up a thousand traders with other traders, right? So when you join m i c we find out your long buy short bias years of trading You know what you're trying to improve on what are you trying to do? And we match you up with a trader of similar skill levels in m i c to help you not only watch the videos Do the content together But someone that you could run your ideas past someone that you could share and someone to talk to when things go good and things go bad and You know A trading accountability buddy is what kind of keeps me safe from revenge trading and keeps me safe from kind of screwing up more guys So, you know, we have all these tools We have all these resources and sometimes we just need one of us or a friend Just slap us in the face and get away from this stuff because The best thing you could do after a loss is close the screens Walk away and come back the next day If your tabs are always away get new tabs, you don't need one tab There's tab groups you could be selected with five or ten other traders Just join m i c go to the trading accountability buddy channel and say hey, I need a tab Someone will DM you you'll fill out the information and probably the next day You'll be matched up with a trader of similar skill level and you know We're very proud to say that we've matched over a thousand traders in our tab program so far So I think that's it guys. I think I'm going to wrap up here. I want to kind of keep these videos short and sweet Um, I know we have the texting hotline of tosh two one three four five eight five nine nine seven If you have any questions about trading, you know If you want to talk to someone if you want to vent to someone if you just want to see if m i c is the right fit for you or You don't really know if trading is something that you'd be interested in text tosh He'll call you guys can get on the phone And he'll basically just explain to you if this is the right fit for you. So text him at two on three four five eight five nine nine seven Also guys leave a comment on this video and what i'm going to do is i'm going to pick one person That leaves a comment on this video with one lesson that you learned from this video to win a free month of m i c I've been doing this in the past in the other videos and we've seen a lot of traction from it You guys really like that So let's do it again. So comment one lesson that you learned from the video today um And yeah, i'll pick a winner in Probably the next day or the day after so thank you everyone for attending I appreciate everyone's kind words on friday, but right now now that i'm green I need to get back to my process. I need to get back to exercising I need to get back to driving my car to de-stress And I need to get back to kind of being excited to wake up the trade again Because this morning. I was not excited to fucking trade, but you know, I'll get there. It's going to take time So appreciate everyone joining and I hope to have a better update either the end of this week or next week So i'll see you guys later