 What's up everyone? My name is Alex. I'm one of the co-founders of MyInvestingClub.com and I want to let you guys know about something special we're doing for our viewers on YouTube. So the most common question we get asked is, you know, how do I start day trading? So what me and my mentor about it is we create a free two-hour mentorship course for the brand new trader. It's going to be available at MyInvestingClub.co. The link is going to be right here. This is a free webinar that reveals our 12 secrets that every single brand new day trader should know before they start. I also want to let you guys know about something that's very unique to MIC. So if you have any questions about trading or you're curious about trading or you don't know if MIC is the right fit for you, now you can text our head mentor, Tash, whose number is going to be right here and he'll answer all the questions that you have in less than 24 hours. Thank you and enjoy the video. So today, I actually had to shorten this webinar because like I was making, I was like, holy crap, this is going to be like four hours long. It was originally going to be called Entries, Exits, Risk and Targets and I had to cut off the second half because it's going to be a long webinar. So anyway, I figured it would be a good time to go over entries and exits and go over like, it's kind of rudimentary, but hopefully it's a little less confusing for the people who are still hesitating at putting entries and exits places and I feel like a whole lot of people are going to show up today. So I wanted to go over something universal. So far, we got like 60, 70, but I expected to increase. Everybody's always late. It's just 100%. Yeah, I mean, people still show up late. I just, I don't wait for people anymore. I can't wait for it. It's recorded anyway, so. It's recorded. Anyway, Tash reminding us. Okay, so anyway, let's get started. So we're going to go over the key traders and I'm going to show ones that I place trades on. Tom will show you once that he did. If we miss any trade, just throw him in there and say, hey, can you guys go over this one and we'll pull up the chart and we'll kind of talk about it. Then we'll go into the market sentiment, like where the market's at, big caps and small caps, mostly small caps because Joe kind of handles the large cap in his webinars on Tuesday, which you guys should all go. They're really good. Then I don't even know if I'll have time for this, but I'm hoping to get a little break from like a lecture and I want you guys to pick a topic that we, something like a weekend mentoring kind of question that like we can't quickly answer, but something that like Tom and I could go back and forth and give you a really good answer on. You guys are going to vote for that. And then we'll get into entries and exits and then we'll have a Q&A. So without further ado, let's go. So BMRA was a first bounce trade that I had earlier in the week. And I say this almost every webinar. If you're a short trader, you should be trading the first bounce. It's such a good long set. It's such a good literal, just objective setup. Like even if you're a short bias trader, you can understand the first bounce. But if you're a short bias trader, you're looking at the first, you're looking at a stock that's about to make a first bounce. And you're like, okay, I have to short the pop, right? That's what you're saying as a short trader. I need to short the pop. I mean, the first bounce comes right before the short the pop. So like you can, like you know the bounce you're waiting for, the bounce you're waiting to short into is the first bounce. So that's, I mean, if you're trying to look for another setup, you know, like you don't need borrows for it. It's a really good setup. Anyway, so yeah, again, it's just a little first bounce. Again, I hope to have one here every single week. That'll be my goal for the week. Like every single week I want to have a first bounce trade. Anyway, I just want to go over the classic three. These are the three criteria for a great first bounce trade. And I say it, I've said it multiple times before, but the first bounce, I look for a 50% retracement from the start of the move. And I consider this to be the start of the move, like from around 750 where it broke out 775 here. So from like this bottom to this top, I look for about a 50% retracement. If I can couple it with a whole and a half dollar, that's, you know, even better. You know, that's gravy on the cake. If I can couple it with, you know, a niche, that's even better. Like for me, these are the top three, right? And so one thing I want to bring up here, you could look at this entire move like, and say, oh, maybe I can first bounce this move. This might warrant a pull down to here even for a bounce. You zoomed out maybe like on a 15 minute chart. So I believe first bounces happen on larger timeframes too. So like if you're a larger timeframe trader, maybe your move is from like 650 to 10. And now you're looking to buy somewhere around eight or 775 and I can't, what did this chart do? Look, it even had one. Look, and see, this is kind of like the larger timeframe first bounce if you want to consider that. See what I'm saying? Like this is kind of, this kind of goes into what I was talking about last time when I said, I think every, it's just little timeframes inside big timeframes. Like this would be in my opinion, the bigger timeframe first bounce. And this is like the one minute one for this move. So that's kind of right there. I got a question. What is my timeframe first bounce? Like I just went over that. Like I normally do the first one minute, but I think it appears on every timeframe. First bounce orders are always fantasy orders, right? Yes. Uh-huh moments, kind of. No, like how did you get yourself through the break even the slightly green moment? Cause like for me, that was a resistance wall. I mean, yeah, I mean, I was there for like, man, geez, like a few months, I was like green, green and red. And then, and then down, you know, half account gone, you know, I kind of dig myself, you know, out of that hole. And then, you know, went back right back, you know, again. And so I think the moment I realized the trading is more systematic. Like I track my stats and everything, right? And I kind of focused more on those, you know, risk and reward kind of trade. It makes me, you know, better as a, you know, before I was calculating only like on one trade, right? After that, I realized, I mean, you know, I want to see the outcome of hundred trades or like thousand trades. And that's, you know, put me into a better, you know, picture. So, you know, right after when I realizing that, and you know, I just keep focusing, you know, on those stats, it's more like, you know, all right, let me just track this, you know, particular setup, right? You know, if I do it a hundred times, how many times I'm going to get it wrong? What is my average, you know, winners or add, like my average losers? And so, you know, after that, it became more like, you know, robotic. I don't know how to say it, but it's better that way. Because, you know, at the end of the day, you want to be profitable, right? You just don't want to, you know, work yourself every day and, you know, not getting paid. I mean, basically I was just sitting, like for a few months, you know, my account is still the same, maybe, you know, a little bit less or, you know, maybe like half gone. It's like really totally waste of time for me. And after realizing that, you know, it helps a lot. And I think the moment when I accept the fact that I know shit about training, you know, it works even better. I mean, I just put my stops and put my covers and that's it. Very systematic. Yeah, and you just go full robot mode. So a few questions got missed on DMR, if you don't. So that list is your criteria for entry location. Yes. How many shares are you putting in on a trade that nets 50 cents range, I'm guessing? How many folks are looking for home runs because I feel like 20 or 30 cents isn't big enough move to take. It honestly doesn't matter. Like it's honestly, a first bounce, I'll take a first bounce that's like $2 a share or that's $50 a share. It all, the range almost doesn't matter. So like it's more of I want to get up to about that, you know, from the top to where the bounce is. Again, I want it to bounce about 50% of the way on the first bounce. I want it 50% down and then like, I almost want a 50% up, you know, ideally more because on first bounces I like to see them break high day eventually anyway. But you know, I sell some in anticipation of a lower high and then sell some later. I don't take sense into account really on the first bounce trade. You know, like, I mean, the shares, I just, I mean, it all depends on the range. I use less shares on the $50 trade than I do on the $2 trade. But you know, like, I don't really look at it as a, it's more of almost like percentage range, like retracement. Yeah, I think it's all depends on your account size. I mean, if you're using, I mean, 20,000 shares, yes, 50 cents as your home runs, right? But if for someone's using like, you know, 100 shares, right? That's probably maybe scalp. 20,000 shares scalp. Now we're getting into Guy Gentile territory. Oh, Vic, this is a good question. It's one of my favorite trading questions actually ever. How do you differentiate between low volume versus illiquid? It's a very important distinction. Normally they go together, which is why people confuse the two, but a low volume stock could be very, very, very, very, very liquid. And an illiquid stock could have a whole lot of volume. Think about drives. Drives, when it went from five to a hundred, drives had very, very, very high volume. It was the most illiquid ticker there was. I mean, the spread was literally like, you can tell a stock's illiquid normally by the spread, but you can also see how like illiquid is basically, you know, how small, how I say this. Maybe the range. A small amount of capital, a small amount of shares can move an illiquid stock, but not a liquid stock. You know, an example of a stock that's really liquid, but low volume, think about GE in pre-market. Now GE in pre-market, general electric, it's like $8 a share or something like that. Think about pre-market at the start of the day, right? At the start of the day, like right at the open, like it is very, very, very, very liquid, even if no shares are trading. It is low volume, but there's no way if you had 20,000 bucks and you wanted to buy everything you could of GE, you wouldn't even move at 10 cents because it's very liquid. There's a whole lot of shares there, even if they're not trading. Now, volume is just an indicator of how much it's trading, but just because something is trading high volume, that's where it's dangerous. When stocks are trading high volume and then they say, oh, look at how much it's trading. It's very liquid. No, it's not. If a stock is trading high volume, it can still be insanely illiquid. Like if you buy 1,000 shares, you could move it, right? That's an illiquid stock. It's one of my favorite. It's important for newer traders to know that because newer traders will look at a stock like, I don't know, BLPH. It might be trading 30 million shares on the day and it's super illiquid and it's a very risky stock. Illiquid is, thin is a synonymous with illiquid. Well, thanks guys. Thanks guys. Right on. All right, see you tomorrow. Thanks for coming. Good stuff, bro. Right on. Yeah, later, bro. Later, guys. Later, everybody. Thank you so much for watching our video. If you want to see more of our videos, please subscribe to our YouTube channel by clicking the button here. We do our best to post a new video every single day. If you have any questions about MIC or any general trading questions, please text Tosh using the number here. Also, stay up to date by watching some of our most recent videos right over here.