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Welcome to the After Hours Podcast Posted by Harry Hoss and James Freedlender Presented by My Investing Club

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James 0:12
What’s going on guys, we are back with another episode of the after hours Podcast. Today we have a very long time long awaited guests. We have David, who is a junior moderator over at MIC. So David, thank you for coming on. Thanks for the talk. Of course. Of course, I’ve been excited for this one because David and I have been talking like off and on for a long time and, and it’s cool, like, I’ve got to see his trading career like really, but and like become like, awesome. Like, he’s he doesn’t share it publicly. He shared some like p&l with us. And the guys, it’s like, it’s cool shit to see, man. It’s cool to see you become the guy you have. So I’m definitely excited to kind of dive into your career. And yeah, for sure. Go from there. So tradition, of course, man, of course. Let’s get into it. So traditionally, how did you find trading? And how did you kind of end up at MIC and kind of walk us through that whole beginning stage and process?

How Did You Get Started in Trading?

David 1:02
So you guys weren’t even born yet? But 1987 Well, I graduated from high school, a movie came up. And it was a Wall Street. I wanted to be Gordon Gekko man. I said he then you know, life hit me reality came in and went to college, played some sports and I tried to get into trading maybe right around one bounded by went to this conference in June, it was like 30 grand a month for data. You know, there’s no internet really back then. Yeah. And so I said, You know what, all right, I’m just gonna go work. And I’ll invest, you know, on the side and all that every now and then. And then I sold my company at a manufacturing company, and I sold it. Gosh, 2014 to spend time with my kids. And then I said, You know what I want to I want to do this. I see all these guys. And I was actually watching with my girlfriend at the time. What’s that boat show? Below the deck below deck, and I saw that was a one guy. So I signed up with him to try to learn stuff. And you know, I wasn’t getting anywhere I was in with his inner circle. And I was I was about to give up, to be honest. And I think I saw Bao, I probably just got on to Instagram the first time in my life, you know, half years ago, or whatever I saw about I said, I’ll give one more shot. And I signed up and I said, Alright, I’ve got a little bit of problem. I know a lot of stuff. You know, I think I’m probably smarter than I am. And I came in I said, I just got to watch all these videos. And it was when Fei started as well. Cool. So here I am. I’m just watching all the videos. And I think she was doing the same. But she just all of a sudden started posting these big you know, every week I’m going, I’m the dumbest person in the world.

David 1:02
She made me feel like an idiot. Like an idiot.

David 1:26
I just couldn’t do it. And I kept going over it. And then the accelerator came out, right. I watched that three times in a row. And what I did from there is I actually got on calls with a bunch of you. My first call was Harry. I wanted to be short. I just wanted to talk to Harry say, Does this really work? Then? Then? I talked to Aloha Austin, and he’s just he’s such a smart dude. He just like he’s over my head smart. You know, it’s like, yeah, dude. Yeah. And then you and James you and I and Tom hooked up, and it started making sense. And I got a big win on APT Remeber APT. Hannaford. I nailed that as well with Alex and I thought it was King shit. Then I lost a bunch again. And I had a call with you, James. And I had a call with Tosh. And he reminded me goes, you know, my setup. And what I like is, it’s up 100% of the day, or a couple of days, you get that big death candle through VWAP. It bounces in you nail it. And I said, Yeah, that’s exactly what I like. You said just trade those. And I just started and what happened was I also had a call with Joe. And he said the exact same thing and it kind of just clicked from there. It was back probably June two years ago. Yeah. And it just clicked. And from there, it just, you know, was consistent, consistent, consistent. And it just kind of blown up from there. I mean, yeah, I had I took you know, the other day Alex had that big loss. I had a big one as well, but I’ve made I just I’m having a good year.

Big Losses Are Part of the Game

James 4:34
Yeah. The big losses are such part of the game, dude. It’s like I think people always assume they’ll never have them. Like, I think you’re not you’re not a day trader or a trader in general. So you’ve never had that like a fat loss and like, yeah, you know, it’s just it hardens your skin and like did it also like I think it’s necessary all the time to like humble you because you are you’re having a great year. You had a great year last year. Yeah. So it’s like, you know, you never know it’s like as much as of last suck like maybe that’s saved you I’m taking the mother of all losses like what if he just kept getting cocky and invoke and went crazy on the next big day? You know, it’s like, so it’s good. And it’s cool to see like how you’ve gotten even to this point, because like, I remember like you were you knew what you were doing, but you just had those those days where you’d like, lose, you’d be like, so like, annoyed, like, What the fuck? Like, I know what I’m doing, like, Why do I keep doing this? And it just took those little tweaks and like, it’s cool to see where you’re at now?

David 5:23
Well, you know, I think a lot of it goes back to in your last, the last podcast, you guys had talked about the same thing. It’s really just simplifying it. I mean, yeah, we get a lot of people and it’s the ego thing, the ego and greed, right? Where’s Lambo? Right?

James 5:37
It’s like, where Lambo ?

David 5:40
What it’s about, you know, it’s, you got to learn the process. And if you, my goodness, and I do the same exact thing, I make my watch list. I compare it to Alex afterwards. It’s like when they match up, it’s like super cool, but I’ll do my own trades as well. Yeah, but it’s there and it drives me up the wall because I get DMS now to and you know, what did you look at the watch list? Why you trade that wasn’t even supposed to be there. If you learn really to draw lines, learn some basic concepts. You know, you don’t need to know all this other stuff. I’m probably the dumbest traitor we have I’m just, I just grind it out. And it’s it’s just you got it and that’s what you got to do. You got to kind of dumb it down. It’s a draw your lines, compare it to Alex and trade it and learn from it.

James 6:29
Yeah, I know. Do I sit down with long traders and Harry like, I get DMS from people that are like, Oh, I was I was long this stock that was like 80 cents below VWAP. And, and it wasn’t a hot chick and I’m just like, I literally right back my did air it was hairy long that like do you want like, why are you going against what? Like, it’s like, almost like, obviously MIC doesn’t breed like people that just follow along. It’s like, that’s not our purpose. But it’s like you want to learn from the people that are successful. So like, yeah, Harry’s assess a long trader. I’m not like, Oh, I’m gonna go long this stock like that’s a fucking side chick, no volume, nothing like, and it’s cool that you said that because I think a lot of people overlook the basic need of like, just look at what the better guys are doing. We’re all doing very similar shit. So learn from them and then go from there.

Harry 7:12
Yeah. Go ahead. I was just gonna say one thing. Like, I got a I got a DM the other day. And it was from well, I got a couple of DMS recently. And, you know, I was looking at his chart, and I was like, alright, well, that one’s way below VWAP. And he was trying too long to get like a bounce. And I was like, Nah, bro, you can’t be doing that. Another one way below VWAP. I was like, bro, how much volume did the stock app and I shit you not? It had maybe half a mil volume free market, and was just fun that and the spread was big. He’s trying to buy on the ask for $1 underneath VWAP. And I was like, What are you doing? And I was like, send me all your charts and show me your biggest ones. Of course his biggest wins are you know that those front side above volume, no death candle yet types of trades. I was like, why aren’t you just trading? Like, the thing is, is as as long trader like, you can’t be expecting a big day, every single day. And you need to accept that there are going to be days where you just can’t trade like today I was up around like $1 a share on that see stocks that ran and then there was another stock I traded. So I’m up about $1 share today, yesterday, I didn’t really have that much to trade. So, you know, if we split that between the two days, what’s that, like 50 cents a share between both days. So that’s how I’m kind of thinking about it. But there’s a lot of long traders that want a big green day, every single day. Because it’s long and you want $1 You want your dollar share. You’re greedy. That’s just really the that’s really longing and itself. It’s just fucking greed. But yeah, that’s another thing to get into. But I mean, there are just a ton of people who, who if they just looked at their big wins, and then looked at their big losses and looked at the dumb shit in between, they would be profitable because they’d learned from the dumb shit. And they would learn from the kind of, I guess, bigger losses in order to just say, All right, I’m just going to take these trades that make me a winner,

David 9:13
You know? Yeah. That’s so true. Yeah.

James 9:17
Why do you think it is? Dude, I don’t get it. It’s like I did, obviously it well. It’s like, it’s like, what do you think it is? It’s Twitter. Yeah.

David 9:27
I mean, it’s, you know, you see these people I mean, even I look every now and then you look at you know, it’s like, you don’t know their people, these people situations. Yeah. You know, in order. Right. So it’s a tough one. And I didn’t want to take a step back because I don’t want anyone to watch this and think it’s super easy. I gotta tell you, I didn’t change your voucher because I watched I mean, I went back I double checked today, those trading fish ones I did two or three times and then all of Joe’s. I went through the only ones videos that I hadn’t watched and hopefully Chicago trader doesn’t watch this are the ones to make me you know, to give me more information because I don’t want to spit it out right now. But it would be I would get up at 530 6 Put the videos on, and it would be 10 11 o’clock at night. And I just did that. So at the end, if you’re working and doing other jobs, it takes, you know, I did that in six months, I think I got consistent. If you’re not doing that type of, you know, 12 16 hours a day. It’s a this is a long process.

James 10:32
You know, what’s crazy, too, is it’s like so I have like friends and stuff that I’m like, I help learn to trade like, I’m actually helping this guy who like owns a convenience store next to my barbershop as fuck like, and dude, you know, what’s crazy, is he’s actually keeping it so simple because of just how I explain it. And he’s actually like, profitable in his first week, he actually made money and like, everything makes sense. And it’s like, it’s funny. It’s funny, though, because it’s like, dude, these guys like, but he’s also like, I give him the free MIT YouTube content, because he’s not at the point to afford them. I see. He’s got a small account, and he’s gonna get there and like, Dude, I give him all these videos, I send them 10 The next day, he’s like, dude, send me 10 More, send me 10 more. And I’m like, Oh, I’m like, Oh, shit. And it’s like, some of the people that I’ve tried to help. I’ll give them all these videos, they won’t watch them. But they went to four years of college to work a job that they’re probably making like 30 to 40k a year, which I’m not shitting on it at all. I’m just saying they worked for four years to make that it’s like, Dude, you put in like one year, or even a couple of months of like, really solid work, dude, you’d be making that like nothing like you today. I had, like an average day, I just didn’t have any really plays. Like, it wasn’t there for me, whatever. I made, like 500 bucks. And it’s like, that’s such a small 15 minute workday. I just made these guys like work in like 30 seconds. Like, it takes nothing. And like, you’re one of the guys, David that actually just put your head down, like you put in the fucking work and like, you reap the benefits. And it’s not, it’s not a coincidence that you’re making money now.

David 11:57
Right? You know, and I was gonna get on the call with Harry and Harry, I talked to Tosh said the other day, the same thing was I was doing it was just it keeps going boom. And I’m doing very well. And I’m thinking myself the other day, I thought it’s like, Am I just lucky because you see all these different things. And all these sayings. People come up and say, and it’s like, I don’t know what that means.

James 12:18
Right? Imposture syndrome is real. It’s real. If you’re, you know, it’s fucked up, though. It’s like, if you’re trading well, um, like you feel that way. Like, generally you force yourself to make a dumb move, because you just feel you’re like, Oh, I’m like, I’m so lucky. I’m lucky. It’s like, it’s not realistic. It’s just once you start trading the process, it’s almost like, this is easy. I, I got on the call with Alex a long time ago, when I was like, Dude, I feel like this is like, too easy. Like, I feel like I’m like doing something wrong. He’s like, trading is boring as fuck, like, there’s nothing, it’s just like, is easy. It’s if you once you learn to simplify it. It’s nothing. It’s like, the most true thing in the world.

Treat Trading as a Job

Harry 12:52
Yeah, that that really is. And I also think that you made a good point, like about the whole, like, impostor syndrome. And I thought that you made another good point, James about going to college or university, you know, working for years in order just to make 30k Just following down the same path. Because you know, everyone else did it. And it’s easy. And you can, you know, I’m not going to sit here and say, studying 12 hours a day is easy. It’s 100% harder, it is 10 times harder than college because I’ve done the whole college route. This shit is way fucking harder. Yes, it is. 100% Harder, do not come in here and expect to freehand college. You know, drink in, you know, C’s get degrees and you’re know you’re you’re pulling half your weight. And this shit, you know, you really need to, to work hard and buckle down and treat it as a job and treat it seriously. And what did I say today? David, I remember that you reacted to it. But there’s a lot of people who see, you know, to life on Instagram, and then they bring that into the market. And when they bring that FOMO into the market. That’s why we have these people longing way below us. Because there’s nothing else to trade and they feel like if they’re not trading right now that they’re not doing enough, or they’re not making money, or they just want to gamble. I don’t fucking know. But, you know, I don’t know. Like, there are a lot of people who love to gamble to you know, and gamble in Mexico and gamble.

David 14:21
Process. Well, if you’re gonna get I gotta be honest, because I do this and I love to gamble. I go to Vegas. Vegas is fun. Dude, you got you got good food, you get entertainment. I’m not I’m not sitting in this little office here.

James 14:40
Thats the thing dude and that’s the thing like you mentioned like Twitter and stuff. And it’s like, I think people just get so like, they get so intoxicated by seeing these like, fucking huge profits and shit that they like, come here and they’re like, You know what, like, Screw it. Like if I don’t make that. I’m wasting my time. It’s like, hey, like you just you reached out like one thing I really admire about you is that you’re very like, I think you’re in tune with everyone at MIC. Like if I If anyone’s having a bad day, like you reach out and like whatever. And the other day, I was frustrated, because I just felt like, no matter what I was like underperforming underperforming, I still feel like that every day, but it’s like, you reached out you’re like, dude, and just kind of like help kind of refocus myself. And it’s like, it is true. It’s like, you go on Twitter and shit. And like, you see people post like, 50,000 100,000 $200,000 a day. It’s like, what the fuck am I doing? But I think the biggest lesson from that little, like emotional downturn was just like, you just focus on your own fucking life, you’re focused on your own lane. And like, I feel like you’re doing that now. And that’s what that’s kind of what helped you like, be as consistent as you are. You’re not like going in trying to like how many members of MIC Have you seen like are not members, people who’ve done dumb shit, like, blow up do dumb shit, because they’re trying to compete with guys like Alex, they’re trying to guys like Harry or anyone else. Like, you don’t do that anymore. And like, look at you look at your p&l. They’re good everyday, your charts every day are consistently good. Your losses are good. Like, I don’t know. It’s just it’s, it’s cool.

David 16:02
Yeah, there’s a reason I don’t do my p&l. First. It’s you know, that’s my, I don’t know, I’m a little older. So it’s no one’s business, usually my share with some people, but it’s like, I don’t need to put that out there and say, you know, look, I’m making. I know, I made a comment. I’m consistently making six figures, whatever it is, and I get all these DMS, like, I this isn’t what I wanted. I’ll help anyone who’s asked me but yes, it’s not. You know, I worked hard to get there. And like today, I mean, I almost didn’t trade it because I was up. So I was just like, well, I’m done for the day. And I was like, an hour. It’s like I made so much. Yeah. And, you know, but then I said, Well, what else am I gonna do? Well, I could put the house together, which I really didn’t want to do. I could go golf, a little chilly at 70. So I didn’t want to do that. So then I sat down, I said, Well, you know, I’m gonna watch bow trade all day. And I do, because I just want to help people and learn.

James 16:55
Dude the biggest lesson ever is like Yeah. No, no, it was just like, trading is like a fucking movie. Like, you don’t have to trade just to like, learn and like, watch and shit. Like, I can sit there all day and watch Baolgo Like, literally.

Harry 17:07
Literally what I’ll do all the time. That’s such a good point by David because like, I’m not even really trading this shit. I’m just like, like, I probably should be like, I probably shouldn’t be shorting some of the shit. You know? I’m just like, I’m just like, bow I see you at eight. I see you there Hey, and then he tells the friends at nine are you fucking bastard like I was.

James 17:31
I think I think I think something that I’ve noticed with a lot of the mods and like people who are more successful or like getting more successful are once you actually are consistent and you’re putting money in the bank, like and David I think this was a huge turning point for you was like, once you have enough not saying it’s enough money just saying like once you’re actually making money, you realise like, trading is not gambling. It is like this is my job. I’m here to perform at the time when I can make money and if it’s not there, I’m not gonna do anything like you notice like once you have enough you’re like, I don’t need to trade this shit. I don’t need to trade this like five cent 10 cent scalp because I don’t need it. And I think like for you that was such an inflection point. Like once you started getting consistent, and like you’re a little bit older and like I think you you understand the value of money too. So it’s like, you see like, Oh, I’m up six figures like the fuck am I gonna go gamble on like, Tesla like what am I gonna go do this for you?

David 18:24
Its it’s just not worth it to me.

James 18:26
No, you’ve done good at that. I feel like you’ve done a good job transitioning from like this like beginner trader and you went quick, dude. Like I I feel like people get so like thrown off when they see like a guy like become successful kind of fast. And I just think it’s like for you you kind of hit the main points early in your career and like that just helped you out a shit tonne.

David 18:47
It could have been I mean, there was that. You know, I gotta be honest there. I’m a competitive dude. I played some sports, semi pro and stuff and you know, Faye caught me because she and I started I think the same day and she caught me off guard and for a little while my head I mean it was what the hell you know and here’s someone who shit back going I have been around the block. And yeah, so it took me a long time and I saw some demons pop up like I got into a train today this afternoon. And I looked at my so what are you doing? I got right out. I just went in Yeah, I tried it. I got out and I posted it. It was just a dumb train. I thought it would go down. It was it should have been a fader at the you know the when it reverses at two o’clock, two o’clock. And it didn’t I got right so what are you doing? I got right now I just watched file.

James 19:42
I think that’s natural, though. Everybody has those moments still like where you just like get into something like why am I doing this? Like I think I think that’s normal. I think you’re you’re a human but they would say dude like everybody always talks about Fay and how she said she was successful. She was really fast and she was it was a freak of nature shit. But she was a robot. Thanks you really a robot she just she watched all the videos in like a week like as much as she could at the time. Like just it was so fast and then just her trading is robotic and like people always compare themselves and like you. I mean, I don’t know how many times we can talk about this but like you cannot compare yourself. Yeah. Dude, I’m so competitive we can just throwing trash in my trash bin. I’m like, I’ll fucking make this before you do and I’ll bet your $100 But you can’t do it you can’t compare yourself and if you do, you’re gonna blow the fuck up.

Staying In Your Own Lane

David 20:29
If you do that in this profession with the way social media is and everyone else you know, we have people that are non throwing, you know, their p&l is wrong if you act like that and take that in your head and you’re not prepared to make that you know that type of jump or those types of trades. You’re gonna done you’re done. You’re not gonna make it Yeah, period. Yep.

James 20:49
Do you deal with that as a long trader? Because like, I feel like long p&l is can be fucking ridiculous. Either to crazy shit.

David 20:56
I could never do it. Yeah.

Harry 20:59
I think how I kind of deal with it is I really stay in my own lane like i i who I have half of Twitter fucking muted, bro, I have half a Twitter’s that doesn’t even fucking pop up on my screen. There are tonnes of people who could post massive p&l And like, I don’t even have them on my screen. I’m looking at who I’m following on social media. I manage that really, really super well. I know who I interact with. I know who there’s traders from, from other rooms who I talked to all the time. They’re all humble guys. They’re they’re not out here flashing massive p&l As you know, one of my friends is up like something like, you know, five, six mil on the year, and we’re DMing memes to each other on Instagram. You know, we’re not sitting here talking about money, or sitting here talking about and we might mention like, oh this was crazy. Or, oh, this was crazy. Or oh, that was crazy. You know, but even with James, me and James aren’t constantly talking about money. It’s just the camaraderie about trading and it’s really for me been about staying in my own lane, focusing on myself. Alex posts, big p&l days all the time. And it doesn’t even faze me. Like I see those numbers and that’s not going to touch me because I put myself in a mental state or mental level. That’s pretty much untouchable, I think now, but I took steps to get there like muting people on Twitter not really following those types of you know, crazy ass gambler accounts, not paying attention to people who were talking shit about trading or people who are in love with trading or you know, and also one big thing that really helped me out is not following posts that fucking make you angry at the start of the day. I fucking followed all the political shit all in gaslighter shit, the shit where you’re scrolling through Instagram, and it’s like, this politician said this. You’re like, that fucking asshole. That all of a sudden, you’re pressing buttons, and you’re already triggered from one post. Get rid of all that fucking shit. Get like, you really have to go on a social media cleanse and I also don’t listen to music anymore when I trade either. Because I find that for me. You start doing stupid shit. Like shit that you wouldn’t normally do like undisciplined shit like you know you got like, I don’t know fucking Drake on you know talking about throwing money you’re like fine throw some right now. Should I can fuck him. What’s what’s? What’s fucking that? You know, your next thing? You know, you’re in the fucking $25,000 position on a low float stock do an under half a million volume. They’re like, what the fuck am I doing?

James 23:42
I’m not Drake.

Harry 23:45
But yeah, just all that type of shit. I just know myself, I think really well. And it’s important to know yourself really? Well. Like what triggers you? What fucking pisses you off? What in the world would make you fucking angry right now? And make sure that is far away from you. And also, don’t trade when you’re still fucking drunk. Jesus Christ. If I’m out partying, and I’m still fucking drunk the next morning I am taking our fucking easy as shit. You know? Crazy. Fast after Bao did I even show up the next day?

James 24:18
You probably shouldn’t take it. That’s crazy. That was that was the craziest night of my life. I was just I oh my god. I just remember I knew in a moment. I was like, this is going way downhill going the wrong direction. 10 20 minutes and I’m like, yeah.

James 24:43
Oh, David, were you watching Oh, yeah, it was fun. See, I’m gonna do it again though.

David 24:50
Yeah, it was it was hilarious. Hey, Harry, I agree with you completely by the way too. I do the same thing. I have no music on anymore in here. Yeah, you know, just quiet and I’m in my own space. And what’s funny you mentioned Alex, Alex doesn’t bother me either because he’s, he’s like, you know, my mentor my guru guy. That’s Yeah, same thing. Yeah. So I want that. And I know he keeps doing that means my processes, right. And so it’s funny it doesn’t affect me at all. And but, but the politics ollege Yeah, I don’t lose nothing. I just come in. I sit down, I see what’s moving. I draw my lines. You know, a goof off. Oh, I have too much time or walk away. Go get a breadboard or coffee combat trade be done.

Harry 25:32
I think that’s a good point. I just want to just shut down for one second there, James. That’s a good point, like Alex and Bauer. Like, it’s when it’s your friends or your mentor or whatever. That’s perfect. Because like that’s not causing you FOMO because like, you know that you can DM Alex or Ballard anytime and they’re gonna be like, what’s up? Like, are you doing sabotage? You know, James, same with Tommy, you DM all the time. It’s boys. It’s friends. It’s whatever. Same with you know, my friends. Like I’m not gonna get FOMO under that because you’re like, Oh, they’re my friend. But when you see some random dude, post some random trade, you don’t even fucking know for some reason that triggers the shit out of you. I know. You go apeshit and fucking blow your goddamn account.

David 26:14
That is so funny.

Avoiding Social Media in the Morning

James 26:16
I have like this mentality lately where like, I kind of have to I put a five minute time limit on my like social media apps like through my phone because I feel like I can’t do it in the morning like for some reason like if I go on Twitter in the morning i i just trade more reckless like I find myself like trying to match like shit I see and like, You’re right like you see something that just triggers you and like next thing you know, you’re like you’re trying to take out like your any frustration on the market. So like, I think avoiding social media in the morning honestly, is a huge fucking like just like avoiding that dumb shit. Just like trading is like such a mental game. So it’s like if you can stay completely focused on the market, like I throw on like billions like I watched a show that I really liked. Like, okay, like, like, I’m in the right headspace. I’m good. And then like, Dude, I relisted the fucking Christmas music when I trade for like the last like 15 20 days because like, I got on a green streak and it’s Christmas music playing like fuck like

Harry 27:11
Next thing you know you’re fucking listening to Jingle Bells and blowing the fuck up.

James 27:17
Fucking balls deep in OCDA

Harry 27:22
Fucked

James 27:25
it is weird, but it I don’t know. It’s just It’s weird how trading itself is like the littlest things can set you up.

Harry 27:33
What do you think? Just for anyone listening because I know we’ve talked about like, guarding like your mentality. And I think that’s super important. Like a lot of people can definitely like learn from that as well. What do you think are some simple tweaks that really kind of put you consistent because I know there’s some there’s some tweaks where like I talked about today like I don’t know what the stock was but I was trading it and I was like this is holding too well after this stuff. And then like I was like fuck boys. I’m taking some long and all of a sudden I was in like 270 sold into three bucks. And that stock had those $3 warrants I forget what it was you know? But yeah, anyway, what are some things that help you?

David 28:15
I think sticking to what you’re good at and I think that’s the hardest thing because I remember when I first started you know you had low hanging fruit you know the first boss all these things going on, you know, it’s just so much info and what I realised and it really was that call with Tom It was when James Tosh and Joe and we haven’t had any good ones lately but is but you get used to it you can develop that into different strategies. It’s if it’s up up you know it goes from two bucks to four bucks and you get that death candle of 30 cents through VWAP. And a bounces up to VWAP again, you hammer the shit out of it. Yeah, I think what’s helped a tonne as well is my understanding of that setup in first red days and really that that resistance I mean you know I don’t mind you know you can do it now. And I’m more experienced now so I hate saying that but you know you hit the front side we do front side covers you know

Harry 29:17
Yeah, the Wi Fi just kind of there real quick you know as you can tell them all dressed up. Canadian winter I got my Canadian sweater on here my Canadian two kids getting a little fucking chilly. So that means Wi Fi is going to be cutting in now boys. But anyway, David you know, we were talking about like tweaks that made you kind of better and you were talking about hammering the shit underneath VWAP. So maybe you can just keep going on that one.

David 29:46
From there as I was talking is is that in first run real first red days we right now we’ve got a few too many people think in first run days or anything up and goes through. You know that That’s not the way it is you need to good three, four days up 100% That’s my favourite. Now I tell you what I live for those in, I know Alex has to. And that’s kind of how I just just emulated them and learn them. And then now, you know, and as I was telling James, as you were gone is the other thing. I hate saying it. But people, if you’re, if you’re gonna short front side, you got to cover front side and 10 and 20 cents are fine. You just got to keep doing it over and over. And you got to use hard stops, period. If you’re not doing that, and I think that’s what is I trust my lines more, I go to the make sure that the outer lines and I also give it as you learn, you have to give it a little more room. And I think a lot of new traders mess that up too is they think, okay, if the stock if my lines at 10 I better be out by 10.1 That’s probably not I mean, it’s slipped,

James 30:58
close. 10.25

David 31:03
I get I get that a tonne with questions saying Well, why didn’t you stop out? I stopped out. I said, because you can even look, I said, well look at the high of the day, a pre market. I said that’s gonna or whatever the high of the day is, that’s gonna be my top and where I would know, I’m like, if we’re really low, I might get out and and get in again. But that’s just the way I manage it. Yeah, it’s, I think people just need to slow down and trust their lines, but understand that there’s gonna be you’re not going to hit the top. Yeah, you know, unless your Bao.

The Most Profitable Way to Trade

James 31:37
Unless you’re up and even Baos using small size, like it’s big relative to most but like he’s using a small size and he’s like scaling into these things like new traders. It’s hard stops drawing the right lines. Like fucking actually just giving yourself the appropriate slippage meeting like not oversizing and then sticking to what you’re good at. It’s like those basic couple things like all these guys that are unprofitable and like DMing us like what the fuck is going on? Why am I not winning? It’s like, Well, I’ll tell you the same shit over and over and you probably get sick of hearing it. It’s like, it’s like all these couple basic things and like, like, I feel like I think that’s what everyone needs to look at you David and emulate that. Like this guy. He comes to work. He does his job well, meaning he treats his process. He sizes appropriately. He has the right stops in. And that’s it. There’s nothing special about it just like gets it.

David 32:24
Right to give it a little limited validity. There’s good English there. Dave is just the last 10 days like I had that big loss the last 10 days. I’ve been five fingers every day. I have not located more than 5000 chairs. Yep. You know, sometimes, if I would have what do we just have? Oh, CGM. I wish I would have I messed up. I didn’t realise until halfway was happening. That was the first red day i was little late to the table. But, um, you know, and I know, 5000 is even a lot for some, but it’s not, you know, we’re not talking 10,000 shares. And I know it’s 5000 if it’s, you know, if it’s not broken, I’m only using 30%.

James 33:08
The reality is, like 95% of traders will probably never trade more than like, or should never trade more than like two or 3000 shares. Because I think just like, I think people think that’s like a number in their head, like I have to trade 10,000 20,000 30,000 like 90% of the people like would actually be so profitable and make a fuck ton of money if they just said, Hey, I’m cool with 2000 shares, like I’m cool with 1000 shares and like just trade that well. And you’d be amazed at what your p&l will do.

Harry 34:05
Yeah, I definitely agree. What types of setups would you say have been kind of the most profitable like you’d say first red day and the broken stock kind of setups?

David 34:16
Absolutely. First Red Day. I am the worst. Sorry, Tom. I am the worst low hanging fruit trader in the world. I don’t know why. I can eke out 10 20 cents but I just suck at it.

Harry 34:32
And I think yeah, I think it’s funny like when you look at the watch list like you’ll see Alex like he’s he’s looking at the broken ones. You’ll see Tom Tom has his like low hanging fruit watch with their right you know, you’ll see me what I’m watching. Yeah, everyone has their own kind of style their niche and like what they put a lot of work into and like what they’re really really good at. And I think like if you just find like, if there are some types of traders that James Knight both know, who only show up now for the first red day, they’ve made so much money that they show up for the first red day setup. And that makes probably most of their year and they don’t bother Scalping on this fucking bullshit day today. They wait for things like OCGN to run a couple of days. A day of cracks red they hammer 100 200,000 shares. Yeah.

David 35:21
You know, I considering that. Yeah, just because it’s, you know, I made what I made last year, two weeks ago because of one. I mean, it’s.

James 35:37
Yeah, it’s crazy. They’re nice. Yeah. It’s the best setup. It’s mocap suits, the best setup but like the day to day stuff, you’re just paying yourself. Yeah, practising and practising. And then that fucking makes Alex says that Super Bowl comes in. That’s it.

David 35:51
Yeah, and you know why I’m here. And James, why I probably couldn’t do that is I have a tough time. If I miss a day coming back in I, you could tell me it’s a first red day. But I was late the OCGN. I was late that day. It’s why I didn’t get enough shares on I still did well, but I was late. I didn’t I got to the desk at eight. So I was off. If I’m off, I saw I don’t know if I could take like three weeks off. And oh, there’s a first red day. Let’s hammer them. That’s, that’s another skill. That’s impressive.

James 36:21
It is awesome to generate, like I need to trade every day, every day. Of course, we all are. But But as we’re coming up, like 40 minutes, I guess, David like, you kind of pieced it. But I want really quick, what are your best tips for new guys coming in that see people like experiencing like as fast says, What are your tips for them? And what are your what’s your advice for them to kind of go forward?

David 36:47
If you are not before you trade? If you don’t have the accelerated course I got it. But if you’re not doing the trading fish in all Joe’s videos before you trade, one son, I think you’re making a mistake. And even then, I think you need to pick from there, you pick one strategy, you start off slow. You see if you like it, you try them all. And you take it super slow. I’m not a big fan of paper training. I do it. Well, I do it now the back test. And that was another thing I didn’t do much is I still go back and back tests my trades for the week, sometimes, especially if I lose is you got to take it slow. If you think you’re gonna join, join us the way we do it. Doug James gone. If you think you’re gonna join us, John in a second, and be done in a month and be trading. I think you’re foolish. I really think you got to take time and learn and watch it screentime. And I remember Tosh said this to me a long way in the beginning when I first joined it, you should pay for trade and all this stuff. First. I’m thinking yeah, right. Whenever I got smoked, I mean, I admit, you know, the first month was like, when I stopped, they had a big win got smoked, and I stopped and then it started all kind of clicking. And you just kind of take it slow, and you might get a good tab. And sometimes your tab doesn’t work out, get a new one. You got to you got to talk and ask the mods and it doesn’t have to be the mods as the junior mods ask questions and get on the phone with people. I mean, I was hesitant at first. I mean, I called Harry just because I wanted to see if it worked. And I wasn’t a long trader, but I just wanted to talk to someone and he said, Yeah, I’ll talk to you. We had a good conversation. So it wasn’t I don’t even know if it was about trading number. It was just you got to take advantage of the way it’s set up and you can do this anyone can if you’ve let greed in your ego get in the way. Check it out the door. Actually, that’d be my number one thing for people that check your ego and greed at the door and do a bunch you know, learn that and chill out you know?

James 38:56
Yeah, I think that’s a good place to end it. That’s why that was a good ending. Please.

David 39:01
Watch. I’m recording Yeah,

 

About the Author
113 posts
James F.

James Freedlender is a driven day trader and entrepreneur hailing from Boston. Since embarking on his trading journey in 2018, James has honed his skills and specialized in trading penny stocks, with a focus on longer time frame moves. His dedication and sharp instincts have contributed to his success in the competitive financial world. In addition to his day trading accomplishments, James is a thriving business owner, running a popular barbershop and collaborating with his family in the design and renovation of homes and businesses. His entrepreneurial spirit and keen eye for detail have paved the way for continued success in his various ventures. Outside of his professional pursuits, James is an avid golfer and hiking enthusiast, always eager to explore new trails and perfect his swing. His love for travel has taken him to many corners of the world, enriching his life experiences and providing inspiration for his work. A firm believer in giving back, James is passionate about helping others achieve their financial goals and guiding them on the path to success. His wealth of knowledge, combined with his dedication to uplifting others, makes James Freedlender a respected and admired figure in both his professional and personal life.