 What's up, everyone? My name is Alex. I'm one of the co-founders of MyInvestingClub.com and I want to let you guys know about something special we're doing for our viewers on YouTube. So the most common question we get asked is, you know, how do I start day trading? So what me and my mentor about it is we create a free two-hour mentorship course for the brand new trader. It's going to be available at MyInvestingClub.co. The link is going to be right here. This is a free webinar that reveals our 12 secrets that every single brand new day trader should know before they start. I also want to let you guys know about something that's very unique to MIC. So if you have any questions about trading or you're curious about trading or you don't know if MIC is the right fit for you, now you can text our head mentor, Tosh, whose number is going to be right here and he'll answer all the questions that you have in less than 24 hours. Thank you and enjoy the video. A routine is really important. You don't want to change your routine. You really don't want to kind of mix it up with something else. It's like your routine is waking up every morning early, doing the same research, finding the same stuff that makes sense to you. It doesn't make sense to move on to the next one. It's something that we need that on a daily basis. I mean, a good sleep, trying to get your mind or your physical stuff ready before the open. So that's everything in routine. Psychology is strange. You need to know what setup you're going to like or what setup you know that's been working for you and so when you're in a trade, you will have less emotions. It's like when you see your setup, it's there. You're just going to trade it without any emotions involved. You're basically just trading the chart and not because you are too excited to get in a trade and then you've got FOMO, you've got everything going on. It's more like a routine and in a boring way. I love boring trading because I know exactly what I'm looking for and if it doesn't happen, I'm not going to trade. I have absolutely no emotions involved. The time when I'm excited, the time when I have emotions in my trading, I usually don't perform that well and usually end up to be those losses that we experience in trading. And so you want to focus on that, emphasize on that and try to make your routine and try to make trading as stress-free as possible. And then the next point is accepting the loss. This is the key, I'm just literally talking about this. The good traders are the ones that are good with taking losses. They are really good at that because it enables them to try to take a loss with ease. They look at the loss as they're accepting the defeat. When they have a losing trade, they don't think about it too much. I mean, it's either that or that. So I'm in a trade, I got stopped out, I admit it, I'm wrong. Mr. Market, you're right. I mean, there's no argument here, there's no ego here, nothing else. And which enable them to quickly adapt to the market environment. They don't have anything against the market. They don't have anything that they try to argue or ego against that trade. Simply, they get in a trade, if wrong, they cut it. No hard feelings, that's it. I mean, those are the best traders usually because it's the ability to accept the loss. I mean, there's a lot of traders that refusing to accept that. I mean, refusing to accept the defeat, that's why they're trying to get back in the trade and they're trying to revenge it. They're trying to make it back because they think I'm right. You are wrong, Mr. Market. I'm going to show you what really should be done here. But those are the traders that will likely blow up at some point because of their ego. And so the good traders that I've seen, they are really good at accepting the loss. And they embrace the loss. They use the loss as a lesson. They use that loss to learn to be better trader next time. The winners will not define who you are as a trader, but the losers, I mean, the losses will define who you are. You won't see the true you when you win, but when you lose, you're going to see the real you in trading. How you be able to handle the loss will define who you are as a trader. Try to really pay attention to that, really pay close to the losses and just pre-planning your trades, accept it beforehand before you even enter the trade. No where you're going to get in, no where you're going to get out, no hard feelings. Accept the fact that you are going to lose this and that much in a single trade. And that will help you to stay focused, will help you to stay flexible during the trade. No surprises at all. I'm going to get in here. If it gets here, I'm going to stop out. And that's what we've been talking about in an awesome webinar on Thursday. You need to have some sort of ultimate stop is to the point where the trade is no longer valid. And you need to accept that, adding to a loser. Don't do that. The only reason why traders doing that because they have the ego, they're not accepting the loss. They're not accepting the defeat. The idea is good. My idea is gold. I'm not wrong here. They don't admit that they're wrong. But that's the key thing for traders. You need to admit that you're wrong. You have to admit that you know absolutely nothing. Once you accept that fact, the trading becomes so much more easier. The fact that you don't know nothing. The fact that anything could happen. It caused you to have a plan. It caused you to have a hard stop. But with the fact that I know everything about this, I'm so right, like on 100%, this trade is going to work in my favor. That's how the ego will get in and probably going to destroy them. And that's what people are blowing up their account because the ego is too big. So that's simple, guys. So do not hold to a losing position, adding to a loser. Don't fight the trend. Trend is your friend. That's what I've been talking about in my view app video. Underview app, long sign in control, underview app, short sign in control. Follow the trend. Don't fight it. I don't care how good you are. But if you fight the trend, probably you're going to get some ugly results out of that. I mean, you could be right here and there. But the time when you're wrong, you're going to be really, really wrong. So just don't fight the trend, guys. This is the amount that you should willing to risk match on the daily. It's like if you lose this much on the day, you're going to call it a day and then come back tomorrow, start fresh, leave to fight another day, guys. This is not a sprint. This is a marathon and you're trying to stay in this game for as long as you could and eventually you might be able to get there. You know, if you can stay in the game, how can you get there, right? So this is your airbags. This is going to save you like daily. This is going to save you from blowing up and everything. So contact your brokers and set that with them. And last but not least, I mean, this is the part where most of our trades are, you know, the losing ones, right? This is where the losers are when we're trying to anticipate, when we're trying to predict the move, when we're trying to trade, like we think it's going to work. But, you know, it's really everything about this one. It's poor FOMO to me. And when do you anticipating when you're trying to predict the move? That's usually is the FOMO one. And because you have no data to back test you, to back you up with this, because if you know what you're looking for, if you have the consistency, if you know the stock selections, right, why the hell you would, you know, still anticipate and predicting the move. This is poor FOMO to me. It's like when you fear of losing a trade or like fear of missing out the trade. And you think, all right, let me guess the top here. This is, this might be the top. Let me get in some and then usually those trades will never end well. So, you know, try to avoid that, guys. Have a good weekend, guys. I think today is Mother's Day. So happy Mother's Day to all mothers there in the world. I'll see you guys on the next one. Take care. If you have any questions about MIC or any general trading questions, please text Tosh using the number here. Also, stay up to date by watching some of our most recent videos right over here.