 When I trade options and I move like that, I'm always thinking I'm going to risk 50% or zero, basically. And it's just, it depends if you get that little spike back and then it kind of rolls over, but it doesn't. It just, it is another $50, a $50 candle on a one minute on the one minute chart. And I guess it's, I guess people don't want to talk about that strategy because it's liquidly limited. I kind of take like a rolling two week P&L and I'll divide it by 10 and I'll just double it. And that's what I'll make my lockout basically for the next week. Before getting the video, just a quick reminder that this is not financial advice and I'll also link all the tools I personally use to trade down in description. So don't forget to check that out. Sit back, relax and enjoy the show. SMCI, the opportunity of the year for certain people and for other people, it just wasn't that much of a big play or people didn't participate in. So I wanted to talk about first, if you thought it was really the opportunity of the year on the short side or if you thought it was more an average to an average plus opportunity or if there was way to make more money on that name than what people talked about over Twitter, I guess. Yeah, you know, we've seen these trades, especially in large cap names, they happen infrequently. But when they do happen, there is massive range and a massive velocity of selling that comes into the name. I think that anyone, anyone who's a trader should think or look at this and see that there was an opportunity. Was there an opportunity for every trader? You know, it all depends on where you're at in your journey. I think that that's why Twitter to a certain extent is kind of flawed or very flawed. Too many people are going to get caught up in seeing the people post big numbers or talk about how much they should have made or how much they how much their puts were worth if they just held them, whatever it might be. You know, I didn't I didn't catch it. I was, you know, I missed I completely whiffed. And, you know, it is what it is. You just have to live and you move on. It's just one of those names that, you know, no matter what, like, it'll happen again, right? A couple people on Twitter and in my own review talked about how there was a similar trade in Tesla and MRNA and those are the two that I was kind of remembering when I was thinking about this trade as well. But they all happen differently, right? They all they all happen differently. So, you know, it's like they say the stock market, you know, it doesn't necessarily have to play out the exact same way, but it's going to rhyme. It's going to look similar or behave similar, similar early. And I think that's what happened. And for everyone who thinks that they missed their year making P&L, you know, that's okay. And certain prop people, you know, are disappointed and I'm sure certain prop head traders are harping at all of their traders for missing it. And, you know, that that's a part of the game. You know, when you're a prop trader, you a lot of a lot of guys really want to focus on those what they deem is asymmetric risk to reward opportunities where they can try to risk as much as possible to make as much as possible in that short window versus having time on your side, like a swing trader, for example, who, you know, may have written that up three, four, 500 points, you know, over the course of two weeks, you know, that prop traders trying to make that same amount with some more size in that one day, basically, I would like to think that trader that trade for firms or prop traders would risk or would be willing to risk more just because it's not their money from experience. Like it's like a deal like I'm risking everything I can. And if it doesn't work out, so be it, not my money versus somebody that's trading in his own portfolio slash his own money would be a bit more risk reverse. Would you think that would be the case? Yes and no, just just because in the end, it still comes down to personality based. I know that I have, you know, I have friends in that prop world that they're never going to go all in just because they don't want to be in a position whether if that shot or that, you know, that shot that they that you're talking about, if it doesn't work out, they don't have to work back out of a big P&L hole, right? And it's so just because it's someone else's money, you know, and if you're lucky, and if you're good enough, you can go to another firm, right? There are a couple firms that you can go to. But a lot of prop traders are comfortable where they're at. Like I don't know many prop traders that have really, really quote unquote, you know, been around the block, right? Where they've tried every single prop trading firm. And if you have that, I mean, you're either not that good or you're you've blown up a lot, right? So so there's, you know, there's something to be said for that. Most people I know stay in one or maybe two places just because, you know, why would you want to leave what, you know, you shouldn't have to have to leave if everything's going well and and you like everything that the firm has to offer you. In terms of retail, I think that that's where, you know, from my experience, at least on Twitter and some of the retail traders that I know, they're either going to be extremely risk averse, right? Just because it's their own money and they're very stringent and follow their process, trading a certain percentage of their portfolio, every, every trade is calculated to half a percent of your equity. Or your account is so small that you're kind of just yoloing, right? Where it's like, all right, I built into $25,000. I'm going to take five shots of $5,000 each and hope that I can get the 10x on one of them. And, you know, maybe, and that was potentially an opportunity for you to do that. Considering that trade, if we talk about SMCI, trading the equity was a bit, I guess, more tough when it comes to buying power and just, you know, managing risk with spread. If it starts to shift on you, it could skip a few points like really easily. And I thought, all right, we thought that trading the option was just a better option on that name. And was this, was there anything different than usually on the option side? Because when, when you talk to me about the option price, they seem like so cheap for some reason, considering the, the potential reward of that trade. And I do trade option here and there, but I never traded these type of play with option. So I wasn't sure if maybe that play with the option was better than others. Because we talked about Tesla and Mara, or mRNA actually. So, and these, I wasn't looking at the option chain, or I don't think I can get back the option chain, option chain, or even the option chart just to kind of review that name. Yeah, you know, it's just one of those things where it always, it always looks so easy in hindsight, right? The options were really expensive. You know, even though the move happened on a Friday, just because the average true range had worked itself up to, I mean, now it's my, my 14 day average true range is $85, it says. But I mean, before Friday, it was $55 or so, right? So at $1,000, you're looking at maybe $100 move, right? You know, other straddle, right? So $1,100 to $900-ish. But when you look at those types of moves, you always have to think bigger, right? The day that it comes off, it's not going to come off one ATR, two ATRs. I was telling myself, I kept telling myself that no matter what, if and when it does come off, and if I'm going to try to catch this move, it's going to make a three, four or five ATR move. The second part of my thinking was that it's going to make a measured move. I'm, I'm, I'm big into measured, measured moves. And, you know, looking at a bigger time frame, it made that really big measured move. And we can talk about that in a little bit if you want, but, and, and that's where you could have really capped, capitalized on like lower priced options for this week, right? If you were, if you were looking or willing to take risk over the weekend, you know, on the short side, you know, because it closed at the absolute lows, you can use the obviously getting more leverage, but you can continue risk. Like when I trade options and a move like that, I'm always thinking I'm going to risk 50% or zero basically. And it's just, it depends on how much time duration that I have left in the, in the trade, how much I'm paying for the options, how aggressive do I really want to get? How much do I really love the setup? Do I think that this is the exact moment in time? You know, because that's the thing with options. You kind of, you're kind of threading the needle to, you know, to make those big moves. I remember looking at, and I don't, I don't think I can get a chart up, but like the nine, you know, when the stock was at 1150, you know, I was looking at the 900, the 900s and they were at two bucks, right? You know, so that's, that's a way that someone could have really, you know, crush it, I guess, right? You know, when you go from two to 97. And, you know, it's not like you're using so much buying power, right? You could theoretically just buy 100 of those at $2, right? You know, I'm risking $2,000 on this trade, right? But if you're trying to trade stock, you know, risking $2, even if you're short from 1000 on like that whole red dog reversal thesis where you're taking out that prior high of day, the high of the day was 1100. So you're trying to risk two grand, you're shorting, you know, 200 shares. No, no, you're shorting 20 shares, right? You're shorting 20 shares, 20 shares. And even if you, if you trade it perfectly, you're making 300, 300 points, right? So, which is what, six grand? Yeah, it's not much. Yeah, exactly. So you're, you know, it's just not, sometimes trading the stock is just not, you're not going to see the same risk reward. So in terms of that asymmetric risk reward, right, you can really capitalize on the options. That's something I didn't bother looking. First, I was just so, I don't know if I was out of it, and if it's, or if it's something I should have really looked at, or my focus on trading is just not in these types of setups. So it was kind of okay to miss it. Because if a breaking news would have came at the same time that this was happening, I would have took the breaking news and I would have been happy taking that trade. And if I was like, you know, in that trade and I would have missed the breaking news, I would have been mad that I missed the breaking news. So, so yeah, it was a big missed opportunity. I think there was probably more money to be made on that name. But maybe it was just wasn't my priority in terms of focus and it was fine to just miss it because of that reason. Hindsight, it always hurts when you see like a big drop like this and like, you know, the tweets of people that made a lot of money. But I think you kind of just have to move on and accept that. You know, and like, you know, that's why I said, I mean, for some people it was probably an A plus, plus, plus, plus, plus setup, right? But realistically, you get the scouting, you know, and I'm looking at one minute charts and one minute is not my preference. I don't really don't like looking at one minute, you know, for me, to really help myself, I prefer looking at, you know, 515s, 30s, an hour lease, you know, for both day and swing trading, you know, but I will look at the one minute if there's an earnings play or something I'm looking to focus on. But, you know, just just think about the most most of these Twitter traders, almost every single person when they're posting charts is posting one minute charts. Right. You know, it's gapping up and still strong and you know, and it's sideways, but even when it even when it's right here, right at 1050 when it before really started coming off, it's kind of holding view up. There's no increase of volume. There's no, there's no reversal candle. There's nothing telling you that this is definitely the top, right? And this is where it's just a little bit different. It's, it's, there's nothing telling you here that, you know, I just don't see a play where anyone should tell you that this was definitely a plus. I mean, the daily setup in the extension, yes, I'm totally agree with that. But, you know, just looking at the volume, there's nothing here. Maybe this is the first candle, all right, that shows you, okay, increasing volume, a nice big $20 candle lower. Okay. Are you just going to hit 1019 now? And then if you hit 1019, how are you sizing this and where are you risking? Are you risking to 1077? So you're risking 50, you're risking 50 bucks, right? Because how are you going to risk anything less than this at this moment, right? And at this moment in time, right? And then if you, if you're, if you don't do that, and then you see the next candle, it goes all the way down to 1000, basically in bounces. And then, so basically you have three candles where it's now down $50. And I still don't know, you know, and you have increasing volume and now you can start thinking, all right, maybe this is it. Right. And so maybe, maybe you're thinking, I'm going to put some offers up at 1020, 1025, 1050. If you get that little spike back and then it kind of rolls over, but, but it doesn't, it just, it is another $50, a $50 candle on a one minute, on the one minute chart. I just don't see how, you know, I was watching it in here for a little bit and I just, is this really it? Was there, is this, was this definitely the tell with, with, you know, not super high volume, right? You know, so I don't think people should beat themselves up on missing this, right? Because then what, you know, and I'm a proponent of, of waiting so you can at least gauge your risk, right? Because, as I mentioned here, are, you know, what do you, if you're, if you're risking $5,000, all right, I'm shorting 100 shares, okay, risking the high of the day. How, you can even find a spot to increase your risk, right? Because it just, you know, I, and it, which is great because now you're $10,000 in the money, you know, but, you know, and I, I like, I like flags, right? So maybe I'm looking in here, but so $25 flag after it's come up 150 bucks, you know, is that, is that really optimal? You know, for me, it was just a really, really hard trade, right? And, and I don't think anyone should beat themselves up for missing them, missing this move. You know, and then you get a really nice little, little look, you know, get a consolidation, you get this little 870 flush down, you know, down five bucks, and you get that little reclaim where you can risk $865, and, you know, you get a really nice move if countertrend scalping is your thing. That's the one I, I, that's a trade I took actually on this one. Yep. Yeah. Yeah. You said this was, this is the area. And that's like, that's a good trade, right? You see this 870, it breaks. And as soon as bids come back in 870s, you know, you try to buy some 870, 871, 72, knowing that you're now risking $865. And, you know, looking for some kind of move back into the moving averages or VWOP, right? You know, and then it just ranges, right? It ranges. And, you know, all these one-minute guys just like, oh, just ranging up and down, maybe it's going to go to VWOP, and it never comes close to VWOP. And for me, you know, in the afternoon, I love trading 15-minute charts. Just, it just cleans things up so nicely. And, and this was the trade I was kind of upset that I missed. But, you know, I had prior obligations. I wasn't around Friday of a long weekend. And this is what I mean by the whole measured move thing, right? You know, 10, 1070, 1080, let's call it 1080 to 860, almost $200 move. So now you're thinking, you know, on a 15-minute chart, $200 move, maybe I can get, you know, 677. Is that, is that realistic? You know, I think that's realistic. You know, looking at 677, because I knew that the 20-day was around 680. So, but, but realistically, let's, let's think, you always want to measure the base, right? So, 864 to 920. Let's measure, that's 60 bucks-ish. So I'm thinking, maybe I can get it, maybe I can get it just because all these, all these big moves, they like to gravitate towards whole numbers. So I'm thinking, you know, maybe this could break, I'm risking $25 to make $75. And that's a good three-hour trade, basically, you know, when you're looking at the setup. And, you know, that's, you know, that's kind of what happened. And as I was talking about taking risk overnight, right, you get that next flush down to 700, right? And, you know, it doesn't quite make it to 677, but, you know, for, for a day and a half move, basically, you get, you get that nice $100 and $180, $190 move, basically, $200 move, call it. So without, without having to even guess or fighting front side, there was still way to participate on that trade really when it was actually backside, in a sense, was like a small, small risk to 25. For sure, the option, I don't think they were as good because all the juice came out on the, all the implied came off and then you had time decay. So then you can take the Friday, I guess you could have still take the Friday one, but it was probably taking the following Friday option, which would be this week, right? Well, so that those 700 calls, right? So, so this is where, you know, you can, instead of using the zero DTs to really get some leverage, but you have to, you know, you're dealing with like decay. This is where I would, this is where I was looking for, I would look for, say that those, those following weeks, in the following weeks, I want to say 700s or 750s, right? If you're thinking measure move, I want to say around this time, if, you know, if you go back in time, you know, they were maybe five or six bucks, right? So, yeah, they're really far out of the money, but this is where obviously options people, options traders or market makers are not pricing in that much, you know, that much, they're not implying that much, that much more volatility, right? So, you know, I'm not going to get into the whole Greeks thing because I'm not an expert on it, but to me, I would have thought that, that measure move, that they would have been much higher, right? So you can still manage your risk by getting 800s or 750s or 700s cheaper, right? And if it closes on lows, right? If it closes on lows, and you're thinking that that gap down could happen, you know, this, you know, this is where, all right, maybe, maybe you'll buy some 650s or 700s because they're, they're still cheap because it's still 100 or $150 away. There was a bunch of way to exploit that opportunity and a bunch of way to make money if this was in your playbook, of course. And that brings the second subject, which was trading more size. I don't think it should be something really related to necessarily an A plus opportunity, or maybe it should. I wanted to have your take on it because it's been something that I tried so many times, so often, and it's just a little hard because every time you increase your risk, it starts with a big fat loss. That's just, that's the name of the game. It just starts with a big loser. And then your first response to this is always to go size back down. But then it's like, you're always kind of like, you know, grinding back up that loss example, if you took a, you increase your size, your normal loss would have been a thousand bucks. Now you increase your size a bit more and you had a bad day. So now you're stuck five grand on the day. Then you go back to your previous risk and then you grind it back up three days, four days later, you're back to flat. Now it's like, okay, let's size up again. And it works for a couple of days. Then there's a big opportunity that comes, you get smacked in the face because it doesn't work. And then you're a bit back down. And then your tendency or my tendency was always to size back down because that's what people say online or that's what I hear all the time, you know, size back down. And then, you know, you grind it back up and you're never really kind of just leaning in the, I'm going to trace that size. And this is what it's going to be going forward. And I'm just not going back. So it's a hard to implement really sizing up, except when there's something that's like so good in your playbook that you just feel like you have to, this is me, like I'll just, there's some days or some type of opportunity that's like, everything lines up so much that the only thing you want to do is just add more, add more to your position. And then these are like your outlier winners. That's for me. Do you have a more systematic way to go about sizing up or maybe some issue that you had kind of in the past? Sorry for the quick interruption, but if you have question that you like us to answer for the next show, don't forget to leave them down in the comments section. And I'll also link all the best tools for day trading in the description. So don't forget to check that out. Let's get back to it. Yeah. Sizing up is tough. Increasing risk is tough. I mean, everyone has, it's a, you know, it's very personality oriented, right? And risk, taking risk, taking risk is taking risk on is definitely very personal, right? Everyone's different. Everyone has different uproganies. Everyone has different backgrounds. Everyone has different lessons that they've learned or, you know, everyone, it comes has different monetary history with money, basically, you know, when it comes to like their family, for example, you know, I'm in the same boat every time that I tried to risk a lot more. It always was a loss. It was just like, you know, it's the cost of doing business, the tuition for trying to get big, right? And it always seemed to work out that way. And the one thing I've learned is I've tried to, you know, redefine my risk and myself as a trader is you really have to break down your ego and you really have to start back in zero. And it's crazy as it sounds. You really have to get yourself to really trust your risk, yourself risking $100 and then $150 because even though going from, you know, a lot of it's going to be male ego, right? I'm sure in, you know, that's, you know, just my own bias, but $100 risk to $150 risk is an increase of 50% of risk, right? And people don't think of it like that. People think of it, well, it's only $50 more. It's only, you know, it's only this. But then when you get to bigger numbers, it's exponentially bigger, right? Because, you know, let's just use brown numbers, for example, and $1,000, right? $1,000 risk on a dollar, you know, 1,000 shares. And all of a sudden, you want to have $2,000 for risk. It's 2,000 shares. Watching that stock, if it doesn't prove you right away, for example, right away, and you're taking a little bit of heat and you're down 50 cents, you're down that $1,000, you're used to risking, right? What do you think that most people are going to do? They're going to start thinking, well, am I wrong? You know, this is my $1,000 kind of ouch point that I'm used to risking. And this is what I would do this. I've done this so many times where I just start second guessing myself, start second guessing the trade. And, you know, you kind of just kick it out. It's like, all right, well, I was down $1,000, that's what I'm used to risking. But then you don't know. And then what happens, it turn around, it just like, that was the little heat, that was the heat level that you had to take, basically. And if you kept your original stock, the stock and idea actually worked out exactly to what you thought. And the next day, when that same setup happens, you're back to risking your normal size, and you're barely making back what you lost, right? You know, and that's the cycle. That's the cycle. How do you break that cycle? And that's the million dollar question that everyone has to ask themselves, right? But the key there is that you... Too many people try to jump it. Like, they try to go from $1,000 to $1,500 to $2,000 or $1,000 to $2,000 to $4,000 to $5,000 to $7,000 to $10,000. Okay, whatever it is, right? When in reality, people should be making incremental steps to the risk where, all right, I'm going to risk $100 this week. When I was trying to learn a new setup, like a new wedge, I was trying to risk $1,000 in the trade. And I just could not figure out for the life of me. I just couldn't figure it out. And every day I'd see the pattern in the pattern. And the only way that I learned how to figure out how to do it and really trust the setup, I had to go down to risking $100 a day, you know, every $100 on the trade, you know, to force myself and to teach myself that I can do this. I can do this for $100. I'm not going to kick it out early. I'm not going to sell it early on the upside. I'm going to see this trade through risking $100 and just see what happens because $100 was my insignificant number, and everyone's going to have an insignificant number. It may be $5 or $10 or $50. It doesn't matter what it is. No judgments here. Everyone has different starting points. And then you slowly incremented. The next week, I managed $100 to $120, $125. And that's still 25% increase. And if you're risking $0.10, you're going from $1,000 to $1,250. If you break it down into smaller steps, I think that people will increase their risk a lot faster than they think. But everyone's impatient. Everyone wants that. Everyone knows our things. So now, especially after SMCI, I need to do it for the next one. The next one might be on Monday. But the next one might be on Tuesday. And I need to be ready for it and size up for it. But mentally and psychologically, most people probably aren't. If you're going to be trading, you're not trading for a year. You're trying to trade for 5, 10, 15, 20 years, 30 years. So use that time to your advantage and don't waste it trying to keep yourself in this cycle of risking too much and just continuing to set yourself back, basically, where you're constantly starting over. Yeah, that was well said. I've tried, well, going back into seeing that number that you just mentioned on your screen, and then you kind of get this adrenaline rush to your reign, and then your stress or cortisol, and then you can't seem to focus properly. I tried to hide my PNL to avoid having to see it, but it doesn't feel or doesn't change anything really. I don't know if you're a big proponent of that. I know a lot of guys or most guys that I know don't look at their PNL for like, you'll check it out at a certain point to know where you're at on the day, just by curiosity, but while you're in the trade, you don't really look at your PNL. The way I had it set up, it's been probably like three years like that. It's just a position, share size, and symbol, and that's what I look at. So I can remove the actual price, but I haven't felt or maybe it does make a difference. I would have to go back and try to put it just to really see if it makes a difference, but have you tried something like that? I hide my daily PNL just because my thought is that if I'm not, I set a lock out for every day, downside that I'm willing to risk every day. And basically, as long as I don't see the alert on my screen saying that I'm locked out, I know that all right, I'm somewhere above that number because in the end, the only thing that we can control is risk. That's the only thing that we can control is traders, position size and risk. In the end, that's our job, our job is to manage risk. It's nothing else. Once you get into a trade, you have no idea if it's going to work or how well it's going to work. And I think that a lot of people lose sight of that. I had a big problem, something similar to what you're saying. What you're talking about to me is either those realized gains or those unrealized gains where you see a number and then you start envisioning or thinking or believing that it's yours. That's my $1,000 or $500 or $100 or $10,000. And I need to bang out of it. I need to take it before the market takes it back for me. And then you have this cortisol rush and it happens on the downside too because all of a sudden you're down $2,000 or $3,000 or whatever the numbers are. And you've had that adrenaline rush and it's like, I need to get it back. I need to get it back or I can't believe the market took that for me or whatever it might be. And that's where a lot of traders, they go down that slippery slope of like a death spiral basically, like you're stuck in quicksand and you're trying harder and harder to get out of it. And all of a sudden, you look at your penalty and you're like, holy crap, how am I down $20,000 or how am I down five times my lockout because I just kept on locking myself, right? Or I kept looking at the number and just like, all right, well, $500 more, $500 more, just because it's that dopamine rush of like blackjack and then, then it's all of a sudden it's gone, right? When you should have known better to just get up and walk away because the better opportunities are going to come the next day. That's a good point because today was exactly like that. I told you I got like, I think I got five losers in a row. But before that, pre-market, I was up a bunch, everything was going well. Then I think I took a couple trades, led like something like 50%. Then I went up a lot. And then trades that were, that I think I was supposed to take, I took them, they were all news trade. And I thought they were going to be news that move a stock, but I just punch in a stock and then it didn't really move. So I took, you know, a smaller loss or I took a loss. Then the next news came in and they were like a big rush of news flow. So I had to take these trades because if I'm a news trader, these are my playbook. And then I ended up with like a pretty, I wouldn't say sizable, but like a decent loss day, which I think, I think the lockout I have currently it's not bad because it's below the threshold point that's going to send me down a spiral. Is this like, do you have like a number or if you probably experienced this in a past that when you pass this certain number, then it's like everything breaks loose. Like this is where you go on a death spiral. Every, every time you hit a button after that, it just, it's always a loss, right? And you just keep trying and trying and trying. Yeah. Everyone has their number. Everyone has their outch point. Everyone has just the, when they're so focused on the screens and then all of a sudden you become so ingrained and on the, every single tick and every single movement, every single print. And then you're just, you're, you're so quick to react to everything, right? You're this, you're at that point, you're the scared money, right? And scared. And we all know the scared money doesn't make money, right? And it just gets worse and worse and worse. Yeah, totally. Everyone has their, it happens to everyone. I mean, if it doesn't happen to you, then please write a comment below and tell us what it is that you do, you know, where that to help you combat that, right? I think for me, like, like, you know, to kind of circle back a little bit on you, I think it's important to make sure that you're taking risk on relative to your performance, right? So I have, I have a self-imposed lockout, right? Something that, but it's lower than what my firm lockout is. But what I do is I kind of take like a rolling two week P&L and I'll divide it by 10, and I'll just double it. And that's what I'll make my lockout basically for the next week. And then I'll just keep doing that at the end of every single week. And that helps you, it helps me increase my size and risk, or maybe the frequency that I'm trading. When things are good, when there's activity, or when my style is in play, and when my style is not in play, it really decreases, or if I'm not seeing the market well, it really decreases my size and risk, you know, on purpose, right? And it kind of, it's kind of a mechanical way to keep you safe. I've never done that in the past. I think I never did that because when things weren't going well, I was like, well, my lockout's going to be so small. It won't make sense. But then, you know, it was just getting worse. But then when things are going well, you always want to risk more, or you want to risk more, or you want to trade more until you want to get that money because you're like, oh, finally, I'm getting some good paycheck. And then sometimes it goes the opposite of like, I don't want to take that much risk because now I want to pay myself, right? I've worked hard. I deserve that money. I don't want to just go risk it all on the next trade. It's like a, it's like a cycle of like, I mean, these are all great points that you're making because these are all things that I struggled with, you know, for a long time. But trading in the markets, like all the things you're talking about are related to your views or my views on money and what money means to us, essentially, right? Like, in reality, trading is just one constant flow of water, right? It's like one constant flow. Like no, how do you know if the trade of the month or your A plus trade or like the SMCI, if that SMCI happened on the last day of February? Does that mean you wouldn't have taken it because it was the end of the month and you were trying to pay yourself, right? And do you think that it means if it was happened the first day of March, would you have taken outsized risks because you were thinking, well, I have the whole month to make it back, right? Like every day should be created equal. And that's why I prefer to kind of keep my risk per trade and risk per day the same, right? Like, you know, no matter how I'm doing it, whether it's via options or smaller size or whatever it is, just because you never know what day is going to be the big day. And you know, you never want to take a, you don't want to have that mental battle with yourself in the moment when that trade is happening. Well, is this the A plus trade that I need to be risking three X, three R on? Because I think that this is going to make my month or make my year, you know, and what if it doesn't work? And it's the end of the month, and then they just blew all my profits, right? Like, I think that those beliefs or those thoughts about risk and your P and L, you know, I don't, you don't want to keep yourself boxed into that, that thought where, you know, I'm, you know, all of a sudden you're driving it back just because you had a good couple of weeks or a good month, you know, you want to try to keep it as consistent as possible in my opinion. And you made a comment about something like that. When I send you a message when I was a ZY or ZJYL, when everybody got smoked and of the end of December. And I was like, man, what a shitty way of like finishing the year, because they all like all these guys are going to start the year on like a massive drawdown or like, you know, you're always already counting how much you made to the year. You probably already talked to your buddies. Now this RHD that you, you couldn't like, even if you tried to manage your risk, it was how did nothing you can do about that black swan event. And then I'm like, man, you know, all these people, like they just like ruined their year or something. And then you're gonna have to start back again. And you mentioned that like, like it doesn't matter. Like the next day is the same as like it never ends. Technically, it always continued. Like you said, your ongoing flow of water, which is like a better way of seeing it because everybody always, you know, you only review when it's the end of the month, you only check how much you made per month versus like saying that like this just never ends. It's just same thing, just continue the process, continue, continue versus, you know, then I'm starting, I'm gonna risk more next month. If you're technically supposed to be risking more now, just just started now, don't have to wait till next month. It's like, it's like those people who are constantly saying, well, it's the new year, I'm going to go to the gym, right? Or why you ain't, you know, if you want to do something, you can do it anytime you want. You don't, you shouldn't have to wait until the new year to go to the gym, right? You didn't have to wait for a starting, you know, no one's, no one's going to wait, no one's going to wait for you. So why are you waiting for time, a certain moment in time to do or set forth whatever you're trying to do? I think it makes a lot of sense. It's a good way of seeing or a different way of seeing it versus what I was already, not already, I was always trying to see things per week or per month versus just saying like, this is it. And I think the most prevalent point that I was doing at in was really about when things are going well. I had a three-month streak or like, you know, really good profits for three months. Now, I don't want to risk too much because, you know, I might ruin it. Like, you know, it's, you kind of go with, like I mentioned, it's like, it's a bad balance between, you know, when things are not going well, well, but you do also mistake when things are, or sorry, when things are not going well and you do the same mistake when things are actually going well. Like, you know, it's, I don't know, like it's not supposed to be like that. It's like the, how do you say it's like imposter syndrome syndrome? It's like, things are going too well. It's tough, right? I mean, when you're a prop trader and you're, you're obviously taught to think of it in terms of one, but if you're a retail trader, you know, I, as I've interacted with more retail traders, it's always interesting to see how everyone thinks differently, right? Prop traders, they just, I think it just, that's the way the accounting works. It's the easiest way for them to do accounting, right? All right, the months up, what's your P&L, subtract all your fees and a couple of weeks will pay you out a week or two or whatever it is. But if you're a retail trader, I mean, it's really a business, right? Like, no matter, no matter what, where you're trading, whether it's at a prop firm or your account, you know, what are you, what are you looking to do with the money, right? Are you looking to really just grow your wealth? Or are you looking to really just trade for income, right? And maybe, and, you know, I know people that do both, right? And just separate accounts. And I know people that they keep the minimum pattern day trader rule in their account. And because the retail, every single week they pay themselves, they pay themselves like it's a nine to five job. And they just pay themselves weekly, whatever they made. And if they have a down week, they're not allowed to pay themselves until, you know, they get back and recover it. And for them, that helps them feel like I'm being rewarded, right? I'm seeing something for the work that I put in for the week, right? Versus, because no matter how you break it down, like that black swan, any of those black swan events or those negative days, even like you're saying that, you know, three months stretch, it all works out to be the same. It's still a loss. It's either a loss of the first of the month, the last of the month, the last of the year. You know, even if it's the end of the year, yeah, they're yours ruined in the beginning of their next year might be ruined, but they were still paid out on everything, you know, prop traders are still paid out and everything they made, you know, for the first 11 months of the year. And if your retail, I'm sure, you know, hopefully you took a distribution where you weren't just trading, you know, recklessly large account, right? You know, so, you know, so there's different things you can do, right? And I've spoken to some retail traders are who they know what their monthly, their monthly nut is, right? They know how much they need to, how much they need to take out every single month so they can cover all their family bills. And basically, they just take it out of their account on the first of every single month. And, you know, that's kind of like their paycheck. And now, and they think of it as well, now I need to spend the month making it back and seeing, seeing how we're, however much more I can make, right? So everyone's, everyone's different, right? That's my point. And everyone tries to look on Twitter and frame themselves and they're trading to certain people. You know, so just like how a lot of traders like trading the one minute chart, and I prefer trading a 15 minute chart, just so I can slow down and process things, you know, some people want to pay themselves a quarter every quarter, and some people want to pay themselves daily. And that's okay, right? Like, you know, everyone has to do what works for themselves, you know, and, and, and not worry about so much about what everyone else is doing. Yeah, I think it's a good way to close it. It's, it's like, as much as there's good on Twitter, there's also like such a strong influence of how we do things, even if we would have never done something in a certain way, it's just, you see it and you try to emulate it or add it to your trading, even if it doesn't necessarily feel like it's right. Or it's not so good advice for you specifically. So thanks for watching this episode. If you enjoyed like and subscribe. Also, if you have any question that you'd like us to answer on the next episode, leave them down below.