 Welcome to the After Hours podcast posted by Harry Haas and James Friedlender presented by My Investing Club. What's going on guys? We're back with another episode of the After Hours podcast. Today we have Nick who's been a member of MIC for about six months. We reached out to a bunch of different members and we wanted to kind of get people on here their journey. I think it's really helpful because we as people who aren't in the group hear these stories and I hope it encourages them to kind of join and you know see kind of like the positive positive flow that we're putting out here. So Nick thank you for coming on. We really appreciate having you. I know problem thanks for having me. Of course of course man. So obviously in old fashion do you want to give us a little bit of background about yourself and then eventually how you kind of came to find MIC and we'll go from there. Yeah so my name is Nick. I've started day trading about a year and a half ago about 40 years old and anyways I first started with a another group and as I got you know delving further into day trading very became very serious with it. I ran across MIC obviously started falling bow, started falling alex and they're just seeing what they were putting out there. I really liked what they were putting out there and you know the YouTube videos and and then bow you know. I mean that guy that stuff he posts on is a social media laughing as well right. So anyways about six months ago I started with MIC when I initially signed up. I signed up for the annual membership figured hey you know what I'm in day trading I'm you know this is something I'm passionate about serious about learning and so I jumped in the annual membership. Once I got into the MIC into the group you know saw the commentary just the just you know MIC in general you know all the mods you know you, Harry, Tash, I mean you name it Alex, bow, I mean what everybody does I mean I was I was really kind of taken back by about how much effort all the mods really put in to the group and trying to mentor and educate and get people you know keep people on track and so once I got in it didn't take me long I was like you know what I'm I'm joining the lifetime membership and so that's when I upgraded to lifetime so that's that's basically you know thus far I've been in day trading about a year and a half I'm still not you know a CPT by any means I'm still have my ups my downs yeah of course so that's kind of where I'm at in my journey right now that's cool how did you even how did you oh okay I was just gonna you know maybe dive into like what kind of strategies you kind of like started with and like maybe because like we can always like turn this podcast into like you know if you have any questions or like you know talk about like what you're struggling with and things like that like if you want but also like we could also talk about you know I mean what kind of strategies you're using now and what kind of like you know struggles you faced and what kind of like what we can talk about like your ups and also you know downs as well so I don't know if you want to kind of dive in about that yeah so since I've started day trading I've primarily I would say mostly just been a short seller being on the short side um for whatever reason it just I don't know my way my brain works it's uh it uh it seems to favor me um as of recent though I've started looking at different setups you know looking at different setups and you know looking at a stock that maybe I was initially wrong at on the short side and just started looking at the trend and figure you know what maybe I'll start uh you know positioning you know in a long position here and so I have been trying to especially in this current market I've been trying to kind of expand my playbook a little bit and not just be so one-sided um on stocks um one thing that I have you know since I've joined MIC in the last six months the biggest thing that I have like done for me that has been very very beneficial for me is again you guys preach you know have a have a you know max stop loss and auto liquidation with the broker um and also look at your levels look at you you know plan your entries um and see where you're going to stop out at yeah and that has saved me tremendously because prior to MIC I had some great days trading um but I had some I had some very bad days because I had no risk management and so my P and L swings were like you know they were super you know up and down and you know again emotions come into play nerve racking and and it was something that there for a little bit I was like I was kind of questioning whether it was truly for me or not so since joining MIC I have definitely improved my risk management um and I mean it's super huge and and I would say there are times that I have struggled uh one thing that I have struggled with is the fact that sometimes when I would get into a position I would scale into position you know I would be um you know based off my you know position and sizing like I could be down like 1500 to two grand yeah and then are you small caps are you trading small caps mostly yeah I primarily trade small caps although recently as of this month I've actually been dabbling in the large caps just based off of the current market conditions um but given the small caps and so forth like you know I'd be down you know you know maybe a couple grand and then all of a sudden you know obviously it would you know sell off and I would be a solid green yeah um and scale you know and cover on out of it and and now the where I have my max stop loss I have it set in a very very you know comfortable stop to where if I hit it it's like eh like that sucks you never want to hit it but it's also like I'm not really concerned about it I can you know shut my computers down and go about my day and not really be mentally affected by it yeah although it is making me I've had challenge with is becoming more of a you know sniper on my entries because when I want to get in a certain size that I'm used to if I don't get in at the right times I'm stopping out you kind of miss that ad yeah and and so that's something that I'm kind of struggling with personally is it's helping me I'm sure in the long run but it's also kind of limiting as of right now it's limiting me in kind of my my profits so to speak yeah I think it's tough because I think there's like a huge misconception between a lot of MIC members too of like there's a difference between like scalping and like scaling versus like more of like the one-shot one kill idea and like like entries in general right and like I feel like with scalping there's multiple ways to do it it's like you could either like I like like if you're really scaling I like Bow's method a lot actually because he uses like smaller size and when I say small size it's relative right like he might use like a thousand shares per bullet but like for him that's like small size but he'll scale a lot right and he'll know that his average he always will know kind of where his average is going to be but what makes bow so successful is that he also scales out so like he might scale into a position have like a good average not amazing but he's comfortable with that size in the range to where he stops out right like so for me like I'm not comfortable with that I like his method I just I'm not comfortable with being down that much anymore right like these are shoes you try to size up it gets harder and harder and then you could scale like Alex Alex is like three bullets but what makes Alex so special is that he knows when he's got the balls to size in when that right moment hits right again not doesn't really work for me that great I don't have that for me I've transitioned very much to more of like a I almost am like a one shot one kill kind of guy with a set risk now because like you were saying like you found yourself down at certain points and and you know you've set your net now your max loss to like a reasonable level that you're comfortable with but like like I wasn't comfortable being down that much especially as you try to use bigger size so it's not easy like I think everything that you're feeling is like a natural growing pain with trading and it's just kind of now finding you know where your next best entry is going to be because you can do both right like you can scale in slowly but there does come that point where it'll it'll be hard to become profitable if you don't get on I don't want to say get on that size but if you don't get on that next kind of entry because that's where the bulk of your money is going to come from right you'll have those small losses from scaling in but you need those big wins to counteract it and Austin did a webinar on this where you need to get on your size at some point you need trades with max I don't want to say max size because max size is a stupid term that's thrown around way too much like just whatever size you're allocated for that setup whatever you need to do that you need to have those trades or else you'll always just kind of be in limbo like I did that for a long time where like I'd have like like small loss small wins small loss big loss small win you know and then that's so it is something to work on and it's not easy you know yeah and I found I found myself that you know in that same predicament as well where you know sometimes my losses are bigger than my are larger than my wins yep and I've also found too that if like for example I scale in a position it's going against me it's you know it went past my range where I where I was anticipating based off of my lines when I when I cover out and take those take those losses when I do cover out a position one thing I'm trying to do is I've like maybe taken half off and then read higher you know I've tried to do that at times where you know if I see a certain another level maybe just above I'll try to you know hit that area but one thing I've found is that when I do take those initial loss on a stock and they're not small but I mean they're not they're not large but it what it does is I think it kind of affects me mentally so when I do get back into that stock at another line I have found myself not getting back in the same share size I've been getting back in smaller and then it does what I expected to do and then I'm like oh sweet I just it did what I expected but my loss was larger than my win yeah so I I talked about this in a video I just made a couple weeks ago and it's I heard it from another trader actually and I really liked the concept and it's just you need to as a trader in my opinion and I'm sure people find it will differ their opinions on it but you need to have consistency in your losses like you like something I've changed going into 2022 is like if I if I post all my P&Ls and after I was won my losses of the year which thankfully you're gonna knock on wood isn't that many but they're all but they're all similar they're all around they're pretty much within $100 of each other right to account for like slippage or whatever but they're all about the same so that way I know when the trade does go my way I'm totally comfortable with that because if on the way up you lose a thousand dollars but like your average winners are only like five six hundred dollars you're never going to get the confidence to hold on to that trade for the next line or for like the area to get out of and that's the problem so like as a as a new guy I wish I remember I learned this early on find consistency in the losses and that will help you also get a better entry because you know you're going to take a certain like dollar loss on the trade you kind of know where you have to get in you know what your average has to be on that position so that way you're not taking a massive loss like again when Alex scales like people always say like Alex scales pretty wide because he can't he go like like on um forget that stock the other day DCFC he was scaling like dollars right because he knew no matter what if he hit his three to four bullets where his average was if it went to his stock area he was comfortable with that loss because he also knows that when it does turn he could get back in size into what he wants to and make it all back but too many people and and Harry I'm sure you can account for this song because I feel like long's probably do this too is that you take too many losses before the trade actually happens and again if you're if you're taking a two hundred dollar loss and a six hundred dollar loss and a two hundred dollar loss by the time the trade turns you're like well fuck I'm only gonna make half of it back I'm gonna scalp out of this like mega scalp and that's that was my problem for like years actually was I would be okay and I would keep a small loss on the front side but then I just wanted to make the money back as soon as possible so I would like kind of scalp out of it whereas now that I found consistent consistency in my losses I know if I take two cuts in the way up I don't really care that much because I know I'm gonna make all that money back plus probably double if my trading thesis actually plays out correctly yeah and I also think as far as uh well I think um as far as like that kind of scale and goes you have to uh I think in every trade you have to have some type of thesis right and so maybe for me it's like I think over this breakout level the stock's gonna rip right or I think um you know I think over high of day they're gonna clear the stock out and bring it back to lows or I think that 350 whole number is going to reject right and so I think that and I was thinking about this the other day everyone had like everyone has their kind of like anticipation size so whether it's like the 30 percent over VWAP like MIC teaches or maybe you're like okay I'm gonna put some on a little bit before this level because you know it's like that FOMO size right where um you know you put some on before it actually happens I think that that's really key too and then just adding into the confirmation because like so many people are getting full size before they're even proven right like I was talking to a guy the other day he was longing a broken stock and I was like I mean that's okay you can long broken stocks like it's not the most profitable strategy but like one in every like 20 I'm sure rip or one in every 30 like and so I asked him like well how much size do you have on it he's like oh well that was full size and I was like well how are you full size on a broken stock that's fading you know that doesn't make any sense it's the same thing you know on front side like you know let's say you're you're thinking two dollars is gonna reject well it's okay to put a little bit of size on before too for your kind of like anticipation size and then when you're confirmed just add it in you know it's the same thing with scaling the reason why I'm not the biggest fan of scaling and some people have mastered scaling like Alex you know even that too uh you know but the reason why I don't necessarily love it is because for me as a long trader um it was like I was just anticipating the whole thing and kind of like hoping you know like and I found myself struggling with that mentally where it's like okay like I know the stock was going to bounce eventually right but I need to be sized in in the right area in order for me to make money on the bounce trade or else you're just going to bounce like halfway and you're not really going to make money right and so that's what I kind of said to myself like why aren't I uh putting all the size where I think it's going to bounce rather than just having two FOMO bullets and I'm like I know it's probably not here but it's worth it you know and that's what I kind of struggled with like if I have an idea like I'm not afraid to go one shot one go because you know it's my my you know idea you know and so I think that there is kind of a big uh like a lot of people the problem is is that I think we we do recommend scaling because people were getting in way too early you know they were getting in like let's say if their trading plan was to get in at VWAP they would get in like 20 cents below VWAP the VWAP projection would come and then they'd be like you know crying about it to all of us and we were like you know just scaling is really for design for FOMO I think you know it's designed it's really designed for FOMO but if you don't have a problem with FOMO and you're just willing to wait in my opinion what's the point of scaling and that was really the battle I had with myself is that like um okay like like and I mean just to me it was like I know this is going to bounce at let's say 230 that is my idea so why aren't I taking a little bit of a fantasy into 230 in case it just hits 230 and snaps up to 250 or 260 right away you know why why don't I put a little bit of size in front of that and then add when I'm writing and then just sell into the pop right that sounds way simpler to me that's what kind of makes sense to me uh as far as kind of scaling goes I agree I think I think I get a lot of DMs about scaling as well and like people say or like if they're struggling would like the 30% rule and for people who don't know the 30% rule is basically it when shorting or longing I guess but mostly what I'm talking about shorting is 30% of your size can be used on the front side of the move so whether you're scaling whether it's like front side and it's kind of like your like feeler etc but the problem with that is you also you can scale in with that but you need to be willing to throw on the rest of your size when you think the trade is now confirmed or working because that's 70% of your size or the rest of your size or called 50 60% whatever is going to bring your average to like where you want it to I suppose and like and that's the problem is like if you're always just only scaling 30% you're never going to have like sizable P&Ls that will like make up the difference of the losses so and if you're struggling to kind of put on the rest of your size then I just think right at this moment I'm not talking about you Nick I'm just talking in general as a trader I think you lack the confidence to throw on the size because you don't have the you don't have the confidence in the setup yet so I think if you're if you're a trader who's struggling to put on the size that he intends for that trade like if you're allocating a thousand chairs for position I mean you want to get on your thousand chairs for a reason so you need to make sure you have confidence in your setup and it has to be like back tested and like understood that when a trade is backside this is how much rage it provides this is how much profit I could make it when it goes my way that's the only way I think you can scale successfully is if you're willing to kind of do those things and I would I would agree with myself personally is that there's been times where I've had a lot of confidence in my setups and I have put it on I have put on larger size and it's worked out great for me although there has been times where I'm like oh yeah I feel very confident in this and I didn't have rules in place you know as far as a hard stop or anything like that it's ripped against me and that completely like you know you know I would say for future trades and kind of where I'm at right now with the way the market has been going I have been a little talking myself out of certain areas to really scale in you know what you know I need to okay hey this is a good spot here where I have a good average I need to put some size on and I talk myself out of it and it ends up doing exactly what I thought it would do I'm just like I know you know what I've learned too is like it's something that really helped me like recently especially is like what I mentioned kind of finding consistency in your losses is like you can kind of use as much size as you want if you know the what kind of loss you're going to take right like I think the fear of using like sizing into a position and I'm not saying I go like mega like big whale dick size I'm just talking about like using the size you want to use for that setup like I think the fear and I know that was like it for me was that you're just afraid of what the potential loss like if you try to use 5000 shares and you don't have a hard stop in like the loss could technically be as big as you as it could get I mean until you stop out or until your broker enforces the loss but like now for me it's like I know like what I'm risking per trade so like no matter what I could use 50 000 shares if I wanted to and I know what my loss will be because I'm always using that hard stop at that level that I want to get out at so I think everyone who's struggling with this concept it's like find the confidence in your setups and like honestly if you don't have confidence yet then you in my opinion aren't putting in enough work at looking at charts because charting and fit technical analysis like what MIC teaches a lot of is very simplistic like when the backside is in it's in my opinion it's kind of easy to tell it's kind of easy to tell when a stock turns and the top is set and it's like again nothing is 100% in the market it's not proven but it's easy to recognize so once you learn that talent of recognizing backside is in momentum at shifted when Harry is done selling and Harry's like all right I'm walking away and Austin's long cells are out you know when it's time that longs are done so that's when you have to find the confidence to size in set a hard stop I mean most brokers allow hard stops it's like 50 000 shares so if you're using less than 50 000 shares and you're not using a hard stop I mean I don't I don't quite understand what you're doing right you need to know what you're going to lose if you're wrong you need to base your stop off the chart and then from there I think finding the confidence to size in uh comes a lot more naturally yeah and I think also like uh I was uh I was reading this someone had posted in main chat like the other day and they were like man like I I piked and I was like don't worry about it you know in my opinion um sorry I don't know if you can hear the truck that's like backing up out there but like oh okay where I where I live like there's like a sushi restaurant downstairs and a couple other restaurants so like it's a Canadian truck right now but anyway um I think I'm gonna get sushi for lunch actually um but yeah I mean I think like uh so anyway he he messaged me in and he or he didn't message me he just posted in the main chat like oh like um you know I piked today uh oh like that's crazy in my opinion scalping is really designed to like build your account until you're ready for the next level to hold longer right there we have some guys who hold like literally all day but they started with scalping in order to develop that market experience right so everyone starts at level one and they're like oh I want to be like level 100 I want to do this I want to do that but it's like no what you should do is scalp grow your account learn some things about the market learn some things about yourself find your personality and then when the time comes you know expand into holding a bit longer and expand into you know getting better and someone commented below and was like well what if the market shifts or what if this or what if that it's like if you have true edge okay you would have piked like 10 to 20 times in a row right like me missing uh bkkt I'm pretty sure I was the first person to even talk about that stock inside MIC where I was like oh looking at uh 460 you know let's hit eight bucks now but to me that was like one pike for me out of uh I don't know like it was like one pike out of like everything else could have been scalps right like everything else was a fine trade everything else I did right everything else I sold at the right area this one run state doesn't really bother me right but if I have 10 to 20 stocks run to eight bucks you're sure as s*** I'm gonna be holding right you have the confidence to hold longer in that type of situation so that's why I kind of disagree with people who are like oh like you know he should have held or he should have done this or he should have done that it's like no just take the money right now because right now you're just developing experience right now you're just getting better you know but if you do have true edge with the holding strategy like your scalps will be pikes like 20 to 30 times in a row um and so that's what I mean like there's no problem with like learning a new strategy and treating it as a scalp and then looking at what happens after the fact and tracking down and saying okay well this stock went to eight bucks or this stock went to five bucks or this stock went to three bucks and when you get a lot of those in a row then in my opinion that's okay to hold longer but you know all these guys who are like you know I want to be this I want to be that it's like master scalping first you know master get some time and get some experience over the market because like you know it takes time to kind of develop what you're good at to find your personality like Nick may be a crazy VWAP rejection short trader you know and we were talking about that last night James where I was explaining um you know how float really does kind of affect the stock and you know if you're looking to short a VWAP replay on a higher float stock it's going to be a lot easier because like the higher the the thicker the float you know it's like putting your hand in a peanut butter jar you know versus putting your hand in in some water right the water is a lot thinner and the water is kind of acting as the low float whereas like kind of that peanut butter jar acts as a thicker float but what I was trying to kind of get at is just like you know everyone's good at something different and in my opinion until you find that uh people shouldn't be looking for home runs and people should be just you know coming up with their own kind of trade ideas coming up with their own kind of thesis you know putting a size into that that level or that idea and then adding one right and that's probably the simplest way to do it in my opinion yeah I think so too I think I think there's also a difference between like being a scalper and like there's a massive difference actually between being a scalper and like being like a piker like piker is such a broad term because like you could you could hold for a massive move and still miss a big chunk of it and be like off like I like that move or whatever like scalping is like that's like a personality trade for a lot of people it's like they like to get in they like to get out but people like on twitter and stuff they like to miss uh miss like I don't know the right word I guess and they just feed it yeah like they they they talk about scalping like it's like oh I'm in five cents I'm out five cents I'm in five cents I'm out five cents like that's not it like scalping in like the words of like MIC and like with the Alice and Val is like you're just trading line to line you're just going to support to resistance so if the resistance and support are 10 cents away sure but most of the time it's like 30 40 cents away so that is like scalping like I think people hike out of positions because it comes back to confidence like they don't have confidence in the setup like if you're someone who's still like getting into a scalp like if you scale into a position and then you scalp right out of it because you're like you just want to lock and profit it's because you still lack confidence in that setup so it all I think in my opinion it all comes back to that it's just like until you you find um where your edge is in trading you're always going to kind of be in that like break even stage of like loss loss small win small win random big win random fucking huge loss big huge like all that stuff so to me that's kind of a difference between the two and you know nick I don't know like where you're kind of like right now for you as a trader you know what is it causing like the biggest headache because I think we've kind of touched on this topic a lot but what's causing the biggest headache for you kind of like to progress I would say in that and so I do I kind of like how and where I'm currently at right now is I do like boughs trading style because um as far as getting in and getting out um you know 20 30 40 cents or whatever um and based off my size and stuff that's that's okay with me because you know I trade it's kind of fits my personality um I'm not the you know the hold and wait all day long and see what this thing does I don't have that time um you know like I have a very busy job uh very busy career you know and so there's I can't be focused on oh shoot I wonder what that stock's doing as I'm trying to go about my day with work because otherwise my mind is just not in it and so I have found myself that hey you know what market open um market open I'll have my I'll have my line set see what the stock does and if it drops 20 30 40 50 cents I'm out and by you know before you know 10 30 and that's my goal every day and then I get my day started so what I have what I have learned is that 10 30 rule is again I know you guys say it everybody says it and it might see I mean and I will say it is I mean statistically speaking the 10 30 rule is 100 I mean it's it's very very high percentage that the stocks will rip you know they're not going to go lower at that point some do you know some will come back up and you know fade off through the rest of the day but for me you know with my work schedule and with just how my mind works um I'm out one thing I have tried to do though um and this is in the last few months is I found myself scaling out too quick you know covering out of my position too quick so you know I scale in it goes 20 30 40 cents down and I'm like you know I'd be all out I'm back sweet that was a win which it is although I would look back at the stock later on or you know fast forward another 30 minutes and it dumped another 30 40 cents yeah and so one thing I have been trying to do is I will if I have a good entry you know good average and the stock does um do what I you know what I plan for it to do and it's gone down and I've covered out I tried to cover out about 75 of my shares and leave on another quarter for a break even or see if it comes down a little bit more um and so that's what I've been trying to do as a recent it has been helping um but I would say that was my biggest issue is what one of my issues I still have multiple but um is uh is taking off my profits too quickly and then watching the stock plummet and going oh that's that's cool I think there's like two things with that because it's like some people might look at that as like being greedy right they're like oh like it wants your your support level like take it nail and bail take the money but also at the same time like if you're trying to grow your P&Ls like some something of you guys like I've talked to have mentioned they do and it seems to work well is like they've installed like a button on their DOS like I know I did something similar that like almost is like a FOMO cover so it's like if you're in just for example a thousand shares that FOMO cover might be like a hundred shares but like weirdly enough like our brains like it's almost like a fear of losing all the money so it's like sometimes just taking off that baby cover like that little tiny amount like does just like scratch the itch and then you can hold for like your actual move right but again it's like if a stock does go to your support level like that's where you get out there's a reason for it right I mean there's a reason why like Alex like preaches like nail and bail because most of the time if it gets to a support level it's probably going to bounce from there right so it's like again it's all it's it's a tough it's a fine line to walk because like are you being greedy or are you trying to grow your P&L because you're missing part of the move if you nail the move in my opinion for 99% of people take the money and walk and that's it but if you're just trying to hold longer there's so many little like methods you can do again cover like a tiny bit leave the rest on like sometimes like what I like to do is like I'll cover um just enough to cover like what my loss would be if my trade goes against me and wrong so then it's just a breakeven trade but I still hold size sometimes I like what Austin does like Austin covers like a bulk of his at his line like if you look at his trades Austin will always take off a bulk of his trade at his desired exit but then he leaves on like another 25% for like home run stuff and he just lets it go as far as it can and that's it and then that that's I like how he does it because it's just again it's he's not he's not shooting for a home run but there's always a potential for a home run which is kind of cool yeah and that's you know and that's something that I look at of you know potentially trying out as well where you know because you go back you know throughout the day maybe I'll look at a that that um that ticker that I was in on you know had a good move made money on it and then I look at it later in the day and I see like it just plummeted you know even more and I'm like why didn't I just leave on you know a quarter of my position and then put you know a stop in you know where again maybe uh I don't make as much or a breakeven trade and then just let it play out the rest of the day and whatever happens happens and so that's a little extra some yeah sometimes that little extra profit will go a long way because that will make up for those small losses later on you know like it's it's a good it's a good talent and to uh it's a good muscle to to work and then all it is is a muscle like Todd she used to talk to him all the time about this like it's just a reflex like leaving a little bit on just for like a little bit lower takes time and you just have to start small you know if you use a thousand shares start leaving on a hundred shares then leave on 150 250 so on so forth and and it does get easier over time you know it's a it's a muscle it's a reflex that you have to train I I agree with that and that is something I'm going to start looking at doing and just uh just testing it out and see what the you know what it what it ends up showing for me personally another thing that you know I know everybody deals with and for whatever reason I mean January was pretty good month for me um February so far has been a little rocky I'm not going to lie February so February the last two weeks have been challenging and been been definitely stressed uh frustrating especially when I go back and like my trader view and I look at last February and I'm like oh my gosh like I mean definitely two different two different months going on right now from last year to now um and again I think it has to do with the fact that small caps for me personally like in the last couple weeks have definitely there's they've been slow um you know yeah they've been really like you know not great setups and then I think even the setups that are there you go to locate and it's super expensive um and so I'm like why am I gonna why am I gonna mess with that and so I started you know obviously getting into the large caps and some of the stuff that was uh put on the groove and I would say that it is a different ball game and that's I've done well in some and then others you know not so much I don't know if I'm ever gonna um like for example I don't know for me D-wack is super super like it gets me emotional um in the trades yeah and I don't know if I'm ever gonna trade D-wack again because I've lost on it twice I'm like why go back for the third you know yeah 90% of it you're always better off in my opinion like I see like we have a chart recaps uh section on an MIC where people post their charts and I see traders like like who trade small caps but they're posting charts for like AMC D-wack and like all these other names and it's like dude I guarantee you after like a few years of being in this like during times when the market is not ideal for you you are always always always always 1000% better off just not trading shutting down for the day and that's it like you need to set like I like I had to like you have to set parameters like I'm not shorting anything that's not up at least 30% and even then I almost don't even bother unless it makes a new high of day like I need there to be range or else I'm just not wasting my mental capital because you're gonna burn all this mental capital over the next like month or so whoever whoever we don't know how long this slow market time will last it could last a year we never know but you could you will burn mental capital and then by the time the market heats up and it's your turn you won't be able to go in gun plays and you'll be like fucking exhausted and you'll be you'll be confused you know yeah I think yeah I think that that's probably a good place to end it because it has been like yep I don't know I know I just I just saw the thing it's like an hour 40 some minutes or something like that but thank you Nick um thank you thank you both Harry James much appreciated I appreciate all that you guys do and thank you very much for having me on perfect thanks question