 What's up guys wanted to just bring you another video today and just kind of like rant style on a couple things that I see with traders and like What they do right what they do wrong and this week's topic of conversation is losses specifically And I see a lot of traders man. I've been trading eight years I've been educating for four plus and I see a lot of traders just beat the crap out of themselves over Oh my god I had a red day or you know I had a bunch green days in a row, but then I had a red day and it's all over and it's not It's not so the thing that I want you to do is obviously like I say all this I'm pumped the brakes the thing in trading that you have to get familiar with is you're not going to win a hundred percent of your trades In fact, you're you might lose quite often But if you make a lot more money because your wins or medium wins and bigger wins versus small losses see what we say in trading is Outside of risk management or within the realm of risk management Actually is it's okay to have a small win a medium win and a big win But it's not okay to have medium and big losses You're okay small losses and as long as you one stuck to your process number two stuck to your plan So the thing that I want you to get familiar with is not hey, let's aim to lose. That's the last thing you should do It's all about mindset and protecting your mental capital But it really is about getting you the point where you are okay with oh man. I usually make a thousand dollars I lost 300 today. Okay. Well, that's okay. You didn't lose $10,000 I can't tell you how many years of my trading in the early days I would be green for 30 days 45 days 70 days in a row. I swear to God The next day there was always the next day the one day that I lost I would let it balloon up I would let it get really big and it would destroy all the previous gains and Momentum that I was building So I kind of like got in my mindset and then my mental capital would go down And then even the a plus setups which then I was ready for the next day I wasn't ready for because my mental was messed up. So It's always about protecting your mental capital your actual capital and that's where risk management comes in So like how do we have big wins and only small losses? Well, that is well three things pre-planning Sticking to that plan and within that realm of the plan is having risk management So like boom boom boom. What is risk management? Two things having a hard stop market hard stops are going to get you out of the trade Limit stops kind of risky. I don't recommend them Market hard stops are always placed after I get in every trade. So I know that if I'm wrong, I'm gonna get out I'm gonna get out and I'm gonna be safe for the next day The reason why modern rock, you know bow aka modern rock has been around for 20 years is because he knows risk management He knows how to stop out when he's wrong number two is a max daily loss So you should be calling up your broker and be like dudes set my shit at XYZ or ABC whatever Number every it's all relative to each, you know individualized trader. Everybody's different But within this realm of risk management, you need to one use hard stops in number two You need to have a max daily loss on the day so that if you go over a certain number Your broker liquidates you auto liquidates just gets you out and protects you on their watch on their level So this is the thing you got a plan you got to have a process you got to execute properly You got to protect your trades with risk management, but at the end of the day The whole title of this video in the whole purpose of this video is to get comfortable With obviously we love our wins. We celebrate the games. We love green days But don't think it's the end of the world and be a chicken little and think the sky is falling falling and Whoop your own ass just because you had a red day or a little bit of a lost day Curves do not go like this P&L curves do not go like this. They dip a little bit They that's a stair stepper that it's like a stock Trending all day with a deviation above VWAP the indicator VWAP volume weighted average price There's healthy dips. There's healthy pullbacks before the next launch and that could be your P&L curve So don't think it's just gonna go boom or you don't boom like vertical. It's not always gonna be the case so these are things to take in a consideration and I want to kind of like reshift your mind a little bit and It's like it's like dating you you go out with 10 girls and one thing so you're kind of an idiot or a dummy Or she's not attracted you whatever dude. That's the small loss get with the other nine I'm kidding of course, but the point is there's a lot of analogies within this realm Try to find something funny. It'll help you learn better If you guys enjoyed this video today or any of this type of content rant style podcast style Q&A Things like this, especially like my new member orientation webinar on Wednesdays at 2 p.m. Open it all This is what we do. I want you to text my line at 2 1 3 4 5 8 5 9 9 7 And then you can even book a call with me and let's get on the phone and talk this out Like what is keeping you from reaching out for help? What is keeping you from? Having those green days, you know in the small red days and having a process and getting better as a trader Also, you can go to my investing club comm slash webinar and see multi seven figure a year trader Alex to Miz Talk about all this in depth. See you guys