 I like to do these routine walk-arounds as a day trader guys we sit on our fat butt literally my fat butt all day long either trading or helping members or answering emails or pms or all that good stuff right guys so we it's like it's kind of weird like you know you start trading to get freedom you talk about freedom being able to do what you want to do and I end up freaking in my prison cell which is my office all be a nice prison but still a prison so you have to you have to find balance guys all these guys chasing money money money every day all they are left is poor with money you know you're it's like the saying goes right you're so poor all you have is money you are so poor all you have is money and that's what I felt like before M.I.C. yeah M.I.C. gave us a purpose help others as well as to do what we love great loving guys hearing you guys crush it the M.I.C. process works man you know at the core of the process is the technical analysis we call the lines but more importantly it's the risk management aspect the process includes knowing which stocks to avoid trading which stocks are best to trade for your niche which best are trade for the shorts or for the longs once again risk management which stocks to avoid knowing which stocks to avoid is half the battle how often you're like what the hell am I doing train this difficult stock all day losing and then all these other guys are trading these easier stocks so we help you identify which stocks are the easier stocks to trade for your niche am I right guys M.I.C. I mean dude that's I mean half the battle is known what stock to trade right guys knowing what stock to trade what stocks to trade which stocks to avoid half of your danger is gone rate ready when we already identify which is the hot chick which is a side chick which ones you should trade long which ones you should go short right and only that the timing I mean the time is fucking crazy take a look at the zombie zombies happen all the time so those are the things that people understand they used to laugh but you know I meant laugh all you want these are of course zombies don't happen every single day to every single sticker but remember all these are rules are called observations in science they're called an observation and it happens more likely than not you know rather be safe than sorry guys so I'll review what I did today today started actually out very slow that's not many new stocks on the ticker on on the scanner and they've already been down so I woke up today late actually dude a half an hour late and that half an hour cause me to miss a lot of trades but you know it's okay when you say you miss trades it's still pre-market trading in pre-market is different than trading in the regular hours guys because in pre-market you have to size down it's because the volume in pre-market is not as big because the album is not working hard until the open so and Robin Hood is not open till nine you know things like that so there's a lot of brokers are not even open yet so pre-market I equate that to I always use an analogy as an explorer you are the explorer like a Christopher Columbus you know going to a new area whoever wakes up the earliest there's no map there's no pre-market map you are the guy that are trading that early free market you are the one making the map you are the map maker you are the Christopher Columbus so when I wake up later sometimes I wake up a late on purpose because I'm scared I'm scared to have FOMO I'm scared that I may walk into a trap you know I'm waiting for someone to draw the math for me I'm waiting for whoever wakes up so early that they become the Christopher Columbus that they actually get eaten by the alligator and then I have the map and so the moment you get eaten by the alligator being the Christopher Columbus hero you know I look at the map and I go oh that's a spot to avoid there's an alligator right there so that's that's what you know these maps are doing for you pre-market trading let those guys trade early you know who's to know what's the top who's to know what's the bottom you know let them do it the volume is very low but they're building the chart for us a lot of times it could be the guy that's scamming it could be the algo it could be the company it could be the promoter sending this play up to sell paper who knows so sometimes waking up later guys it's not a bad thing you know so there's there's the pros and cons so you wake up a little later the maps already drawn for you you know what to do the lines are established but sometimes you do not feel the size you want or sometimes you don't feel at all so it's safe but there's always a risk reward right guys the guys are waking up early the guys are beating the Christopher Columbus they have huge risk but they also have much bigger reward than you so there's a balance between too much risk or being way too conservative and not having any reward at all where there's no meat to the bone so you find that balance in life in trading it's it's just like the lines right you don't know which lines to use you use the outer line the middle line the inner line so there's a balance between being too conservative and waiting for the outer lines all the time and never feeling or being way too early but I like to err on the side of caution I always tell everybody start one line later and you think you would that one line later it's a it's a huge difference it is a difference between stopping out at the top or being able to hold through a break so wherever you want to do just try that guys a big trick I always do is start one line later than you think because your brain always wants you to have FOMO I don't want to miss a trade I don't want to miss a trade or a lot of the guys that they do they size down the first entry I do that too just to get that FOMO in so I've been sizing down okay being knowing the range these markets these things range so much CTI be range so much and so instead of having let's say a thousand each order start doing 500 shares or 700 shares the difference between a thousand and 700 to add it's a significant amount of difference okay that means so I'm able to withstand a lot of these big run-ups you know if I size down I can now widen my stops and that's that's what I've been trying to do and becoming more patient as a result so I so a lot of times your size too much guys it's hard for you to hold even it for a winner because you're like oh shit I have too much and so when you start to exit and scale out a lot of times you just greedy you're like okay I fucking do I'm gonna get out every uptake if you're short every uptake you're gonna get out right it's cuz your size way too big so sometimes sizing appropriately down affords you to hold longer I fuck up a lot because I size a way too much and you know sometimes even if I'm in the money I'm like dude I'm gonna take the money because because I'm like I'm looking at money I'm like oh shit it's too much money it's too much money for the you know that my mind comes and starts to like mess with me like hey man what were you trying to be greedy this is a lot of money whatever right so when you start the moment you start to look at your p now all shit goes to hell guys I'm telling you right now good and bad it's the it's just the emotional response and so but if you are sized accurately if you're sized correctly properly you don't look at the p now cuz you already know you're comfortable with that size when I look at my p now it means I size too much it means that I've added to a loser it means that I'm doing things which I'm not comfortable so your body's biggest indicator of whether or not you are doing the correct thing in training I'm gonna I'm gonna repeat that because it's very important guys the best indicator that human being can have that they're doing something correctly or incorrectly is anxiety you as a kid breaking the rule curfew rule sneaking in and out your parents house you know you know that's wrong so you're you have such anxiety and stress but if you're allowed to go out you're gonna walk out the front door make as much noise as you want say hi and bye to your mom no big deal because you are sized appropriately so so use that as an indicator guys use your body as an indicator whether or not you are properly sized or even if the trade is going well if you are so nervous that means this should not be a trade for you or your size too much okay no one is going to tell you that this is a bad trade you hit the wrong line you know you hit the wrong line you know you had FOMO let your body's anxiety and stress meter help you become a better trader so I've been using that indicator human indicator myself when I feel like I'm shaking I'm like okay I'm gonna take some off I'm gonna take some off so that I don't feel like I'm in too much so that's what happens this morning that CTIB I I had a plan I got greedy I was sized up same thing with CLSN and now like oh shit man I'm size too much too early so I took some off early on purpose the moment I took some off early oh man a big relief came and I can't hold the rest longer okay so that's the thing we don't understand so indicator be human indicator what I want to do today is bring someone on it's been a while since I brought some wine you want to raise your hand someone wants to come on that that has something we're not gonna do stock picks we're not gonna you know this is a general discussion and how we can improve your trading if someone wants to learn how to improve your trading get on I will help them and we'll go through this well we this weekend what we had is every two weeks we have what's called a chart review for MIC in the Saturday mentorship program so you stand a bunch of charts and we actually go through the charts you know so that's a great program that we do for members so you guys to join just for that I mean there's just so much guys every single week we have webinars you see three guys really pick one person I have no idea who this person is Zili what's up brother so I got seen you before yeah I came on like last she months back like I don't know three four months ago are you the one from United Kingdom Scotland Scotland there we go yeah yeah yeah you had the you're doing the bars or something yeah the nightclub the nightclub there we go yeah not well not well but you but I remember last time we shot from last last year March oh shit I remember you told me that they shut you down you started day trading yeah well I kind of like going to day trading before that it's been about three years I've been learning how to day trade okay so this is perfect man I randomly pick I totally forgot your name so tell me your name Z the alley yep and then uh tell help catch us up what's going on man it's been like a year right yeah bro so it's been yeah yeah yeah yeah yeah almost a year since I last spoken what's your name in chat so I can remember again so Z Ali Z Ali oh there we go so tell us tell us the update man this is very interesting it's gonna be awesome yeah dude good about the matter this is a process yeah last time I spoke to you yeah so I'm in three years into trading so I'm joining my seat lifetime member started off first year just monthly subscriber obviously like so much so much to learn so much to take in so did as much as I can was a bit lazy to start off with but then I realized I needed to commit myself a little bit more so I needed up getting the lifetime membership kind of made me want to do more in terms of learning got a lifetime membership absolutely amazing looking forward to all this boiling over so we can come all across the pond and have some meetups and stuff and when I spoke to you last I kind of was like using my day trading account to kind of like like hold stocks when the way like the trade went wrong so I used to buy into stocks pumps and dumps and end up just holding some other some of the position so ended up having like maybe a dozen tickers just randomly just going up and down over and then decided one day to just take everything off take the hit and just take everything off and kind of like just clear my clear the account just so there's no more noise put your losses are over yep yes yes I mean I knew what I was getting better I was doing it was patience and all that one thing I want to say is circumstances personal circumstances is probably one of the most fundamental sort of barriers we will come across when it comes to trading when it comes to trying to do it a full-time sort of an income base I've been very fortunate to be able to have and run my own businesses over the years so when it comes to affordability you know I had the income to cover some of the losses I used to make through the week you know again I used to try to keep the size relatively to my sort of threshold you know just risk what I can afford to risk basically and so with this COVID my circumstances sort of changed and I found that directly affected my trading yeah there's no more income there's no more income depended upon it no more safety net no more safety net absolutely absolutely I mean when I had my nightclub and I had the regular income coming in I had a Christian out within my trading I knew that I could sort of whatever I kind of made a loss on that week I could kind of like make up with my income from my business but when that stopped with the shutdown of the business I kind of the mindset was kind of like this is I need to make money you know I need to make money to cover my losses too much pressure but yeah that kind of made make me think right you know chasing a bit taking bigger sizes just to see if I can get the yellow trade and just yellow all the way just try to try to be a hero type of thing sometimes because you know you kind of in a position where you want to like sort of make that one good trade and cover all your sort of ongoing sort of commitments and I found that to be a very detrimental thing to to trading you know I think I would say 80% mindset 80% mindset from my own experience so what what happens during that time because you started to become profitable I remember you cleared absolutely I mean you know it takes years of experience to be able to get that confidence in just taking that trade you know and being able to accept that you're wrong when it goes against you is like one of the biggest personal hurdles that overcome like the ego and all that carry on that gets him in the way and honestly like if you might see the education side of it like you know the social side of it's brilliant that the banter we have the great laughs we have the jokes they after our all that's amazing and it's great and you get to meet amazing like minded people that's all good but when it comes to like you know like learning the mechanism you know you've got you go vast vast vast information available to you anything you don't go reach out to the boys they'll help you the moderators are amazing that's fine and well you know you know you can spend the right amount of time learning the process learning all that but three years into learning how to trade like I am officially trading but the mind will always be the the biggest enemy of yourself yes yes exactly the personal circumstances if you can't afford to lose that trade don't trade like you know if you can't afford to trade with with the the capital that you're a way to trade with don't do it because you'll make the whole experience completely work against I always say if you're if you're a personal life is in chaos so will you're trading so make sure the first wife is all listen get your shit together get your shit together and and and like have your own pot of money that you can you can sort of dedicate and sacrifice on the learning process it's always going to be a process a learning there's going to be goods and the bads and like I said you've got to go through the bads to come out the good I've been through the all that all the scenarios a trader goes through over that type of period of time the three-year sort of timescale I've been through all I've been I've been frozen I've been excited I've been upset and obviously mentally you get all types of scenario playing out in your head when things go in a certain way but it's all about getting your shit together you know the you know joining MIC will teach you the process like if you have that commitment to learn you'll learn everything you need to learn but if your personal circumstances and I emphasize this to everyone if your shit ain't together there's no point in trading even if you make a few lucky trades here and there and you think you know you don't know until you prioritize or try trading over whatever else you do in life you know what I mean yep right an amazing life who's your cat room I don't well I've got guys we became really good friends but we kind of all doing our own shit and we've helped each other and it was great but like we kind of all kind of ended up doing our own thing so I think you think that do you think that's one of the reasons it's got more difficult because you you were part of that there's definitely a benefit for having a tab like some people and I'm talking about like I like to trade on my own I realized that I first thought I needed someone to be there holding my hands type of thing and keeping me right but like with all due respect I'm my tolerance my prey pain threshold as they say it's likely more than what my boys had and I respect that everybody's in a certain different circumstances and I felt like I needed to kind of be my own person in terms of risk management and I tell you what man like I'm taking trades that feel like I should be taken I don't take trades I don't I'm working so hard in my formal because my circumstances has changed I I got my shit together despite the business still being closed I went out there and grafted for the last several months while trading when I can and I got myself shit all sorted now I'm focusing like on the trading just like on its own you know what I mean I'm not I'm not yeah maybe maybe maybe maybe now you're ready for a new set of tabs that matches your profile so you can try that too yeah I mean again like I say certain people are definitely yep gonna benefit from that yep not everybody like what I am the same way regularly like regularly Patrick and Cody my boys like for life we're gonna visit each other we're gonna like you know all that's happening but right now like I've got my own personal sort of journey here like I've got like a target for myself to be able to control my emotion and be able to trust myself within within the risk management and strategy what was your current strategy that you're trying to be long I used to be long bias I've adapted the short bias and I'm finding that the short bias things working because you're risking the top you know you're risking that the high of the day and again sizing sizing is everything what you just said earlier on man if you if you don't have that comfort comfort size it's like even if it goes against like a few cents you're fucked yeah yeah so this is great I've got a trade I just take a trade just there and the other thing I do now I lock in the profits I don't let it just do its thing I lock in the profit soon as I'm in in the green like it's I'm just following that profit I'm just taking things you know I'm not like oh let it go because I used to do that used to be up at one point and then you get a squeeze and in your out right yep he is I'll be done by the time you're trying to adjust your stop loss yeah you're out and you end up taking actual loss instead of trying to break even so what I do is when I see a stock that I feel like it's it's it's doing my thesis I lock in break even you know but if I'm seeing breaking down really well I'll take as much profit you know I'll lock in I wouldn't necessarily take the position off but I'll lock in on the way there I've paid for my job so this is good so let me summarize what you said this is perfect so basically what you're telling me is risk management is the key so there's a couple ways of risk management you are risk risk managing your life that's the first step risk managing your life because you said if your life is shit I'm gonna be shit so right here this is exactly right man first you have to everything in life is about risk management you don't want to die right you don't want to die you know you're shot and do a live you don't shot and so so manage your risk from your personal life as well as your trading life and that's the key that's exactly what you heard and get your shit together and adjust your risk management listen risk management is like and this is why I'm telling you I every day you hear me scream that in the room risk matter risk every day we are not here to gamble it's fight listen it took me three years to understand risk management and and how having the right risk management in place locking in your stop loss making sure like being realistic being big you know as an experienced day trader now for me of three years I feel like I have an understanding of the price action you know I can I am following the price action I'm looking at the tape I'm looking at key points where it's telling me it's speaking to me right so if I'm if I'm in neglect if I'm denying or sort of not taking that shit serious and then and making my own ideas in my head and telling myself this is gonna do that and it when it's actually not then you're kidding yourself and you're basically gonna end up just causing yourself unnecessary losses paper cuts can sometimes mark two big losses you know and I think I think if you realistically follow the price action and you take that trade and you put that stop was a realistic figure and if it goes against you taking a loss like a man yeah we'll make you a better and then you guys mentioned it recently it's it's about how you take the loss like if you take it like a boss then you feel a lot shouldn't be a bad hey I'm telling you there there's a point of every single trade that goes wrong that you could have gotten out no problem but we choose to hold on a little longer and that's when the problem is right guys take them take the loss you know you know I used to do that I used to do that so much I used to do all the time and it did it ruins the whole the whole process it ruins the whole trading day it ruins because you're being stupid I mean there's nothing more or nothing less about it you're just being daft yeah you're being stupid you've been ignorant you've been stubborn and you just not got the right attitude when it comes to what when you stop my risk management except you're wrong you know ended at the market will do what a hell he wants to do as long as you understand that you can't always be right and when you are proven to be wrong take it like a man you know exactly right man when you start taking those losses like that you know I was right but maybe I'll be wrong next it shit happened you can't always be right it's part of the process risk management my friend well thank you for the update we'll see you in like six months and you give the great update on the next one man but you hit it right there brother yeah risk management risk management for the for the life as well as for trade risk management all the way thank you man thanks again guys for great work all the moderators and the MIC family when all this shit goes away will hold me up and we'll all have a good time for sure man thanks man we'll see you back in the room the best guys take it easy yeah how we turn this off hey there you go well so to summarize well what happened was risk management man risk management for life as well as for trades you know there's a certain point where you can take the loss and it's okay so go back to the last time that you took a major big loss think about think about all the times before you could have taken that loss before became big so that's what you got work on guys when you lose analyze why you lost okay analyze how you could prevent that sometimes you cannot prevent it you know what I mean by prevention you can you sometimes you cannot prevent a loss you already fucked up but you cannot prevent a loss right so managing that loss is the key making sure that loss is manageable and so we always talk about that so you see me start to post a lot more charts where I stopped out like yesterday right I stopped out on Sino Sino I stopped out basically for a 10 cents loss or something very minor but then I attacked it at the right spot I told the online and made 80 cents out of it you know things like that so let me take another person that I haven't seen before let me try another one Chiru I'm just randomly whoever raised in their hand waiting for Chiru 55 yeah I missed these IG live screenshots half screen you know trading guys it's simple but simple does not mean easy we know what we need to do we need to be able to wait for our lines we need to put in their stop loss we need to exit when we need to exit and not have green but but human nature man we know what we need to do it's like when you're a little kid you know he's supposed to fucking go to sleep early eat your vegetables brush your fucking teeth but you know you know I do your homework but you know it's all simple have you done that you know life would be much simpler but we we don't as human beings right for some reason we have FOMO we get anxious we think we can get away with something and that's what happens man all right so let me find another person raise who was beyond raise your hand I'll get the next guy on and then we'll end it after that who wants to get on for the IG live screen oh we have a lot of European guys a lot of Asians European Australian bunch of our moderators from actually a few moderators from Europe and Dubai this is international guys we have people everywhere all you need to do is have an internet connection and you can be learning trade stocks anybody want to get on if not then we'll can end it I'll really want to get back to CTIB CTIB is a low flow so you gotta be careful guys well I guess everybody's doing well today but you know what man hit up Tosh guys we talked about this yesterday and you saw me you probably bored of me yesterday as well we'll see you next week and online hit up Tosh Tosh text your number everybody needs any assistance in trading you know we have a celebrated program and all that stuff so we're not gonna go to that again but just text Tosh it'll help me out today on days that I go live and now let's go live we would love to give discounts for those products so alright man thanks guys