 What's up everyone? My name is Alex. I'm one of the co-founders of MyInvestingClub.com. If you are brand new to trading or are curious about trading at all, I want to let you guys know about a free two-hour mentorship course that I put together with my mentor, Bao. It is available at MyInvestingClub.co. The link is going to be right here. This is a free webinar with limited seating every week, so please click on the link and reserve your spot before the time runs out. Also, a special bonus for all of our viewers on YouTube. So if you guys have any questions about MIC or you're curious about joining or you don't know if MIC is the right fit for you, you can now text Tosh, who is one of our head mentors and head moderators at MIC, and he'll answer any questions you have about MIC. His phone number will be in the link in the description. It will also be right here. Thank you guys for watching and enjoy the video. So this is where the magic is, guys. I just hit Wingardium Leviosa on the chart and it just teleports right up. That's honestly the secret. I just have to mute myself in the live trade, but that's what I'm doing right before I get the parabolic. So we're going to be talking about paralysis by analysis. This is such a general topic because you find this analysis by paralysis in so many aspects of life, in college, anything, but it's particularly applicable to trading because there's so much to analyze. Like I've talked about in webinar episode three, when I talked about trading as an art, not a science, it's kind of both. There's so much technical stuff that you can just hyperanalyze to where like you literally can't pull the trigger. And the reason why it's applicable to trading is because it's, I mean, your emotions is what's behind that trigger. So it's like you're just, you just get locked. And so we're going to talk about that today. So I'm going to try and keep my normal part of the webinar pretty, get through it pretty fast. And most of the webinar, you know, talking, you know, Joe and I just talking and discussing and hopefully hear from you guys too. But yeah, so I'm going to go over the key traders. I'm going to talk about the market sentiment. And then we're going to get into the paralysis by analysis stuff. For those of you who this is their first webinar, welcome. The way I kind of structure these is the question and answer portion is at the end. But if you have a question based on what we're talking about in the moment, you know, we'll try to get to the question. But if not, we'll definitely get to them all at the end. So without further ado, VVUS was a trader that it was kind of one of the only good traders this week, I think like, you know, that actually like didn't just die off the open, like it actually was a trader, a mover. But I was kind of like, I was very scalpy with this one. Like I just, I just kind of had a, I'm not looking to I'm not looking to build a position. I just wanted to scalp on these. That's in my 220 goals is to scalp more. So I just did all scalp shorts in this. And the reason why it wasn't that I didn't want to have conviction on my on my trade is because I mean, you can clearly tell the stock had volume all day. I mean, this stock had like 25 million trades of volume by the end of the day, right? So I'm not looking to be like a hero on this kind of stock. And if you guys remember from previous webinars, in the float rotation one, a stock that has super high volume and very, you know, it's liquid and has strong volume. If that thing's over VWAP, I'm not looking to like the VWAP is a really good indicator when you have a lot of volume, right? Because VWAP is a volume indicator, the stronger the volume, the stronger the indicator is. So like when we're still above VWAP near the end of the day, I'm not looking to size into a position until we're under that VWAP basically, because I love under VWAP when there's a lot of volume because now all that volume is below, right? But when it's above VWAP, longs are still in control. Like there's because longs will and I talked about this too, longs will be more stubborn with shorts because they have less to lose. Like they can only go to zero whereas shorts are afraid. Like, I mean, if you can't hold on to a short because I mean, you blow up, like you won't blow up holding on to a long unless you're oversized. I mean, you'll take a pretty nasty hit. Anyway, like longs will stubborn and they won't sell until they have to and under VWAP is typically when they feel they have to because now on average, everyone's read all that stuff. Anyway, this last trade I did was my favorite trade on it. And this is because I was really patient with it. One thing I like about this trade is this is a trade that someone with who's under PDT can do. I like waiting until like basically the stock screams at you, right? And I talked about this last webinar, we got a good example, like the next week, right? When I talked about teeter tottering when socks like teeter totter, the longer you can, you know, hold your fire, hold your trigger from placing a trade on a stock, typically the more leveraged the move is, right? The more chances of being accurate, you're going to be the later you can place your trade. And so the way that you get these moves is you're willing to miss the play, right? Because willing to miss the play means you're happy not placing a trade at all, right? If you're happy not placing a trade at all, that's how you know that when you do place a trade, you're going to have a higher, you know, you're normally going to have a higher winning percentage of, you know, you're going to have a higher chance of placing a good trade. Why? Because you literally waited until the stock screamed at you saying, you know, like the stock is going to make small little, hey, short me, and you get to avoid that or hey, and it'll speak a little louder the next time. Hey, short me, you can like ignore that one, wait until it's basically like, holy crap, if I don't take this trade, what trade am I going to take? Those are always going to be like the highest probability trades. So this guy just waited all day until we're near the end of the day and it stuffs and I'm like, if it stuffs this at the end of the day, when are, you know, this is where the longs are going to bail if they're going to bail. So I felt like I had the greatest chance there at the end. Anyway, so it's coming from what you said in the morning Austin, what does it mean to trade for risk? That means that you're trading with risk in mind with risk at the forefront of your brand. It means that like you're trading and you're and it's like you allocate a size per this trade and then everything that you do is has a risk focus at the heart. It means that like I'm only adding this much here because if I have to cut it here, I only want to lose X much, right? And then it starts to tank and so you start to recycle some profits and you say, all right, I'm up 10 cents already. Now I'm going to move my wrist down here. Now I'm essentially only risking 3 cents on this trade, like after I've already locked in this much, it's always trading with risk at the forefront. It's not it's trading with risk with risk vision instead of gain vision, right? It's trading not like you don't get excited for a trade like, oh my god, if this thing tanks, bro, I'm going to get in 2k because when this tanks 50 cents, I'm going to make a thousand bucks. That's not like that's trading with gain vision, right? And and whenever I recognize that I'm trading with gain vision, I'm like I try to take a step back. But I even when I texted Joe, like I was like, dude, I want to buy Y 10 for a gap tomorrow. And I was like, but I fucking can't like the risk is just too much. Like because it was going to tank, like it's at nine, like it could like if I held over nine and gap down, dude, I could lose like three bucks a share. I don't have any control over that kind of shit. So I'm like, fuck, I can't do this, but like I feel it. I feel it in my heart. I want to buy it, but then I'm like, dude, that's gain vision. It makes sense to set a goal as a trader. Oh, to set a profit goal as a trader for X. I don't know why I thought X Y when I read that. But for example, my goal or wish is to make 10,000 this month, or is it a perverted mentality? I personally think setting profit goals is a realistic thing. It's something I did long, long before trading. And it made me very successful in my previous career. I always tracked it. So I don't know if you guys know how to track your progress throughout the month, but we had like our actual performance. And then we had what we were tracking based on the number of days that were left in the month. And so I do think that's a good thing to know it, but I could see how some people would argue that that would affect your trading. So yeah, I do it, but I don't talk about it. I have soft goals. Like I know what I want to make, but I don't like force myself to get there. Yeah, I kind of just know what I need to make per day. And I'm like, if I make this by every day or at least round about that, I'm gonna be good. 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. 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