 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. Yeah, so hopefully, yeah, this one stays recorded and I don't have to rerecord this one. I cleared up a lot of this space from the last webinar. The main thing is that I had like two or three recordings where I recorded my screen and never hit unrecord. I had like 30 hours of like NVIDIA high-definition record time, like holding up 100 gigs, so got rid of that. So today, this one's going to be kind of a rant and I did one rant once before earlier, but that was a negative rant and this one's going to be more of a positive. Before we get into that, we have some market stuff we want to get through. So the market center, so last week where we were at, the spy was showing hesitation at the 280 level and I thought that we would be somewhat, that we would somewhat kind of stay still until the first couple of states opened, which we actually opened like this week, which I didn't think we were going to start, but a couple of states that started these pre-opens and then I expect the pre-pricing continue, which we kind of did. We broke through that 280 barrier this week. Is that a specific time when the hot check of the day shows up on the scanner? Is that always in the pre-market seat? Yeah, I would say so and usually they pop up around like 7 a.m. like David just told you as well and also depends on the flow too, the momentum. You have to see, check the flow and the news too and combine all those factors. You can tell which one is hot check or not. Yeah and I would say that the hot check always presents itself within the first 45 minutes. Like 45 minutes in, it's even pushing a little late. I would say the hot check always appears within the first 30 minutes or pre-market. Pre-market to first 30. Like after that, like if a runner happens after the first hour, it can still, it can become a runner, but most of the time those become like tomorrow plays for me. And then I saw it stalling here and this is when I posted this in chat. I was like, if this over nine glory fails, we can finally see our death candle, right? Because this is where if all of these shorts we're going to lose patience and all of these shorts, we're going to squeeze it out. This is where it was going to happen, hence the long here. Like this is where I thought it might happen. But the fact that we stalled here, I was like, okay, if this finals, I call them flurries, right? Like stop out where it just goes over and tries to make shorts nervous at one last time, near the end of reversal time, it's three o'clock. This is where if it doesn't go here, where else are we going to go? If this isn't what squeezes us higher, if we get back under nine, I think we can get our death candle and we did get the death candle. So we get under nine, I put the starter back on. I put that the same thought as the blood in the water crack. I put that starter back on. This time I actually wait for us to break 850. And I, you know, when I short some more. And so here's where I kind of merged. Like this is where I was honestly a little bit fuzzy on whether or not like what should I do? Like, because I shorted into this crack and it, you know, I'm shorting this as a trend break crack where 850 just failed. And like here we are, we're bouncing, but I'm not so keen to cover this one as I was right here because this was the death candle. This is the, you know, the biggest volume candle, not probably not of the day. I think the morning was greater, but it was the biggest volume candle all day. This was a death candle. It was a failed candle through nine. So there's almost two trades in play here. The overextended trend break, which broke, but then there's also the death candle. Okay, just death candle. Let me short the bound death candle. I had more risk on here than I intended, but the way I saw it is I kind of had two trades on at a time like this is a death candle bounce. Well, I'm still comfortable as long as it's under nine. We get the crack here and I do. I take all of these shares off but I have a nice like 870 ish average here. But then we, when this one fails, I had, I had orders to cover it like eight, eight and 750. And when this came, when this didn't tank, I'm like, dude, we're starting, it's already 30 minutes to go covering this position. And good thing I did, it's never covered at nine over here. You know, I would have covered at nine with the kind of size I had on the trade. I got out like, I got out for like, you know, roughly break even after this, you know, roughly, but maybe a little gain. I classed by this break even. But the thing about this trade is I kind of did everything right here. And this is just, this is what the trade kind of looks like when you do everything right and it just doesn't work out. This happens all the time. This is what I call, like I did my job. I put myself in position. You don't know if it's gonna work out, but the point is you put yourself in position and you know, God speed, you let the stock do the rest. Like I did my part, I entered where I did, I covered where I did, and the stock didn't want to give me what I want. So I know once this recovers, there's a decent chance it'll pop to nine. I know if it doesn't, I'm gonna cover. So, you know, when the trade didn't do what I want, I failed. Unfortunately, dude, like I wanted this to work so bad. Like was I disappointed in the trade? Yes. That doesn't mean- Maybe the time of the day if it was like at two, then it would have, you know, world nicely. I would have held, but that 330-ish, that 330-ness started to get to me. I didn't like, I didn't want to be holding this at 330. It was already, it was already sub-ideal late. Like it should have happened here. Like it was already kind of late in the day for the tank. Like how do I know if it's the best entry, right? How do I know it won't just rip and tank right, rip right through VWAP when I short the tank right through support? How do I know it just won't stop me out? How do I know that it just won't stop or rip right back after I get out? You don't, right? You don't know that crap, but you don't have to know that crap. Once you've accepted the risk, the trade is about you executing. You don't have to know that stuff. All you have to know is what you're going to trade, how you're going to trade it and don't be a pussy about it, right? That's it. Those are the three elements. What you're going to trade, how you're going to trade. And now is the time to don't be a pussy because if you have this but what if crap, it doesn't matter about one and two, if you're going to get to step three and be a pussy about it. We don't know what the stock is going to do. All we know is what we're going to do. Perfect, bro. Perfect. You don't know what the stock's going to do, but you can know what you're going to do. So when you aren't a bitch, you know, pussy, whatever, whatever, when you're not a pussy about it, you are more likely to be in control of your trades, trade your setups with confidence and take your winning trades instead of letting them go by, right? And so I made a list for you. Thou shalt not utter the following words, right? I love that list, bro. I love that. No but what ifs. So cool. No but what ifs. How do I know? That's off your list too. I thought it might, I wasn't sure how much, the one time, Tom is so cool. Yeah, the best one. Oh yeah, none of those. This scared me. Instead of saying this scared me, you say after that tank, I thought it was a less likely probability of me getting my set. That's so much different than this scared me. One's emotion basis and one is technical analysis. And it seems like it's splitting hairs, but those hairs are the difference between emotionally trading or emotionally not trading and not trading for a reason or trading for this reason. I was gonna follow my plan, but it is a big one. I was gonna follow my plan, but maybe this time will be different. All of these are off of your list. If you catch yourself saying this, you're in the wrong state of mind. Like, you know, you've probably gotten step one, step two, and you, and just ducked out of, of step three. I wanna add something here. You know, the only thing you have completely control over is how much you're willing to risk or how much you're willing to lose. That's it. Anything else, I don't care. I don't know if I know I would bet my house on that, right? Why would I be sitting here? If I know this APR, the eight lines gonna work, I just gonna, you know, borrow some money from the bank, mortgage my house, use all the BP, you know, everything. Just put in that short out stock at eight and cover at six, right? Easy. Yeah, it can come down to, dude, I know that in the middle of the day that like VWAP normally rejects the first time. But maybe this time will be different. I don't wanna take this trade. 100 shares, I won't even take it. Let me just see what happens because maybe this time will be different. And then all of a sudden it just rejects 15 cents. And you're like, that could have been 15 bucks in your pocket, right? And then as you scale up 300 shares, that could have been 45 bucks in your pocket. And, you know, it can be a small wallet pattern that adds up and you take those trades over time. One of these is gonna stunt that. One of those is gonna stunt it. And you're gonna have gotten to the third step and you're gonna push the up. Q and A. I just needed to hear that as well. And you know, just, you know, to remind myself, I'm kind of, you know, I'm reminding myself every day is that my goal is to make it into the next day. I don't want to be today be my last day of trading. I always remind myself of that because if I'm reckless, if I'm not ready, shorting CAPR, right? 200 million yesterday, all it takes is one stock to wipe you out and you're done. Captain Heinz, yeah, this is a classic one. Classic, shoulda coulda woulda. Questions? Questions guys. Yeah. Anyways guys, we're doing calls daily from Monday to Friday. So please take advantage of that. I mean, you know, if you want to share some, I mean, if you wanna go over some charts and you know, ask anything, I mean, just, you know, reach out. And like this, this, this rant was brought to you probably by like, the question that we often get the most is how did you know it was going to work, right? How did you know that it was gonna work? And that's what I don't know. Like, dude, I don't, I just know that if it was a choice of me entering this position or not entering this position, I wanted to be in this position. Yeah, and that's just the, how do you know? Like, how did you know that was the best prize? Well, I didn't. Yeah, I was talking to one of the members of that. I won't say his name, but it was like asking me, dude, you know, I traded CAPR, I did here, I saw the death canal right there and there and I asked him, what is your edge? And he just quieted and I said, what is your edge? You know, stock traded 200 million. What the heck are you doing there? I mean, what the fuck you're doing shorting that stock? Is that something you're doing regularly every day? I said, no, so there you go. That's it. Find your edge, you guys. You know, just focus on one and try to do that daily, day in and day out with one setup and try to make, I don't know, $10, $20 consistently for a month or two. And then, you know, you can work from there. And there's one more thing I forgot to say, but I wanted to add. Now, of course, a lot of this comes down to experience, right? Like, you know, as an experienced trader, we'll have an easier time figuring out what they like to trade and how they want to trade it and it eventually becomes easier for a more experienced trader. However, that doesn't mean that you can't figure it out and it doesn't mean that, like, just because your confidence level might be lower than ours. But guess what? You can alter your size to where your confident level is enough to be in control of the trade. That's ultimately what it's all about. Like Vaz said, like, you could put a hundred shares down there. Like, if you're wrong, you're going to lose what? 20 or 30 bucks? Can you handle that? And if you're like, well, yeah, I can handle $20. Well, then take the trade. This is how you learn how to trade anyway. This is how you're going to build the stronger confidence seeing it work, right? But like, it's like, just take that hundred. If you ever find yourself saying any of these words or like pulling that hesitant trigger, well, then make the trigger a hundred shares or 50 and be like, what is it? Where's hesitation now? It's not money. There's a lot of hard work in it. You have to kind of experience it, track it, go over it every day. You need to see the outcome of 500 or 1,000 trade for you to pick something up, right? But you need time. But if you try to size up and try to speed up the process, you might not going to give it enough time for a room to grow or the kind of learning curve. You're not going to get to that point. All right. Yeah, thanks, guys. Thanks. And here's the thing about, yeah, stops, guys. No one likes to fucking stop out. Like it's, no one likes to stop out. Oh, dude, guess what? I got to stop out. I hate losing even fucking $10. I hate losing. You still have them. Thanks, Val, for coming. Oh, I didn't even know Alex was here. He was so quiet. Alex is everywhere, bro. He's everywhere. Just quiet, but everywhere. Yeah, you see that? Did you say Forex just now, Austin? No, I didn't. That's what I was doing on my phone. I always have Forex. I'm trading all my phone. All right, I'm going to go to bat. Almost 3 AM here. Robin Hood app. All right, thanks, guys. See you, guys. 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 Tosh using the number here. Also, stay up to date by watching some of our most recent videos right over here.