 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. Good morning, guys. It's Tom Diesel here. I hope you guys had a great weekend. Today I'm going to talk about one of the topics that I discussed earlier. And today this is a part two and today's topic is going to be how to grow a small account. Last video I did on that was I basically explained in details the two setups that I like the most. Yeah, first of all, the edge, right? The edge is what I've been discussing in the first video. And those are the low hanging fruit and the death line. So today I'm not going to go into that more. But the first thing here is if you want to grow a small account, right, you need to have an edge. It's like you need to know what you're looking for, right? And the same thing I mentioned, preaching about daily, think about it as a business. When you open a business, you want to have some sort of product that could sell, right? And once you kind of do research and once you found the key products that a lot of, you know, customers or a lot of people buying it. So you're going to just stick to that product only, right? So same thing here with trading. And that's, you know, that's our edge, right? The playbook, the setup, whatever you want to call it. But basically going into the market every day and when you know what you're looking for, it becomes much more easier, right? Instead of, you know, showing up to the market and don't have any idea at all. It's like, yeah, you're going to do random trading, boredom trading, you know, revenge trading, whatever. It's like showing to the market and you are like, I'm going to trade, you know, on a fly. Let's see what markets gives me, right? Let's see. You know, I'm just going to trade anything that pops or anything and you know, I'm just going to buy any dip. It's like any support line, but you know, it doesn't work like that. So that's why we have an edge and the playbook and all the setup where you want to call it and you want to label them, I don't know, A, B, C or D, it's really up to you. The second part here is the stats. And a lot of people asking me about how I kind of track my setup. It's like, I've been telling, you know, to people that if you want to track your setup, right? So let's say you have a two setup, low hanging fruit and a death line. So what you want to do is, let's say you're going to do 100 trades on the low hanging fruit, right? Just do that. 100 trades and then, and then you see the outcome of 100 trades. And after that, you have some sort of data to kind of, you know, for you there to look at, right? Out of 100 trades and you know, I'm profitable or like I'm winning like 70 or 80 of them. So that's the edge is like 70 or 80% right? Then you have something to build from. And from that, you're going to, you know, track each and sing, and you know, each and everyone trade each and every single trade to, to know where you can, you know, improve, to know where you can, you know, add more size on it. But that's basically the tracking. That's basically how I do track my setup or track my edge is like, you know, I'm not Joe, but it's like, I'm just putting them into a trade view and, you know, Excel sheet or whatever. I just, I'm saving charts as well to, you know, basically took a screenshot of that and, and try to look at my entries and exits. And when you have that, the pack or like the data, you know, as a whole, and then you can see it, you know, much better instead of you just took one trade or two trades. And then you said, you know, all right, so this is not for me. I'm not going to trade this and the next, you know, morning, you want to trade something else. And, you know, you always keep changing the strategy, but without actually going into, you know, a details about it, but you need to give it, you know, you need to give the edge a little bit of time, right? You need the samples for us to decide, you know, if this is, you know, the set up for you or not. But if, you know, it's just, if you don't have enough samples, then how can you know, right? So, and, and the most important number regarding the stats for me is, you know, all the trade of you. And this is the kind of key numbers for me to look at is my average winners compared to the versus, you know, to the average losers, right? As long as I have that, you know, twice or three times larger, it's like, as long as my average winners, right, two or three times bigger than my average losers, right? That's where I'm profitable, you know, I don't care about the win rate, you know, I've seen a lot of people who has, you know, nice sick, you know, win rates, it's like 90%, but it's like their winning rate is good. But, you know, when the trade is in their favor, and then they usually cut it too fast, but their average losers are, you know, two or three or five times, you know, more than their average winners. And that's what's going to define if you are going to make it, you know, in this game or not, that's what's going to define if you are profitable or not, based on that, because when you have a losing day, it shouldn't be, you know, it shouldn't be more than, I mean, one or two days work, like normally, right? So if I have like one losing day, and I post my numbers as well, you guys can see I have really, you know, tiny, small losing days, I mean, it is, you know, kind of mental, you know, like the last two or three days now, I've been really struggling with, you know, with trading, because not because of my P&L, but it's like basically my mental capital, it's basically, you know, gone because, you know, I couldn't find a good setup, I couldn't, you know, basically make the money. But I always stuck to my risk management and I want to keep them small. When I'm not in the zone, I want to keep them really small. So when I'm back on track again, so I can make that back in like one or two days. So that's basically our goal, right? Our goal as a trader is to minimize the loss, minimize the drawdown. And when, you know, when we get our confidence again, and we're going to, you know, size up and all like take advantage of that. But as I explained in my previous post as well, your confidence, you know, when you're losing, right, your, you didn't lose your confidence. If you have the consistency before, if you have the consistency for the last month or two, or like three, you didn't lose your confidence, but your confidence get transferred to another trader. You know, that's all there is. You know, that's all why we are struggling when the losing day. But, you know, think about of a bigger picture, right? You're not in the zone today. You lost the confidence, right? So just step back, relax, take a deep breath, you know, come back next day. Just take what process gives you. So yeah, so regarding the stats, those are the biggest, you know, number that I'm looking at, you know, my average losers, I know my average winners compared to average, you know, losers, that's what's going to define whether or not I'm, you know, profitable in the long term, right? So that's, you know, the really the stats or the number you should look at the consistently profitable traders are the ones that have their process down, right? And they've been sticking to that day in and day out. They've been waking up every morning, doing the same process, the same routine every day. And they try to make one good trade. They're trying to make, you know, a great plan. And they're not focusing on their P&L. They just, you know, completely focus on their process. So define what is your process? You know, the edge, the playbook, and you know, if stock did that and do that, I'm going to short it, you know, you know, could be like a process, not shorting in the pre-market, right? And you know, whatever the process, the process might be, have it written down, try to stick to that or try to follow that as, you know, the rules and as your guidelines. To me, this is more of the foundation, right? My foundation. And once I build the edge, when I have my playbook, when I have my stats, once I know the risk and reward, risk management, when I know sizing, we want to really, it's like this, as a trader, I really want to operate in a steady, stable, you know, mine. Or like, you know, I want to be my P&L curve. I want to be, you know, really steady uptrending, right? I don't want any problems or obstacles to stay in the way. Or I don't want any huge jump or to kind of disrupt my profitability or my psychology, right? Right, guys, have the good Sunday and let's get ready for next week, you know, trading. I see you guys on next one. Take care. Thank you so much for watching our video. If you want to see more of our videos, please subscribe to our YouTube channel by clicking the button here. We do our best to post a new video every single day. If you have any questions about MIC or any general trading questions, please text us using the number here. Also, stay up to date by watching some of our most recent videos right over here.