What’s going on guys? We are back with another episode of the After Hours Podcast. This week’s gonna be something a little different. We are actually we have Alex back on, he was one of our first episodes. And we wanted to kind of get him back on talk about how he’s been in the recent market markets been fucking tough. It’s been brutal. I hear about it every day. And Alex has had some crazy days. And then we wanted to kind of hear from him and how he’s doing so kind of the start, I guess, Alex, if you want to take away and talk about how you made a million dollars in a fucking week, I think that’d be a pretty cool place to start.
There’s a lot of shit leading up to that, right. So right now, this is being recorded on July 6 2021. Exactly one year from today, we were at the pandemic, the height of the pandemic, the market was going crazy. The stock market was tanking, everyone thought this magical virus is going to kill everyone. Retirement accounts are going to zero everyone was broke, everyone had no job. All of a sudden the most lucrative job in the world became a stock market, right? So a year ago today is when we had literally the most amount and I would say it was the peak of the stock market COVID Boom. And in 2019, the market was different in 2020, the market was different and in 2021 The market was different. You know what worked in 2020, didn’t work in 2019 2021, etc. I feel like a lot of people made a lot of dumb money in 2020, whether it was cryptocurrency, whether it was fucking Dogecoin, whether it was trading, whether whatever it was, I feel like a lot of money. A lot of people that entered the market got went on Easy Street, everything was really easy. You could on one day, you can buy a stock and it’ll go up 500%. The next day, the stock will take 50% As long as you make a shitload of money, the shorts and make a shitload of money. And as long as you pretty much didn’t blow up, you could have made money every single day in that market. And that was incredible. I know a lot of people have made a lot of money. You know, I did very well for myself considering just working one hour a day, you know, sticking to the MIC process. I think last year, I made a little bit over a million dollars, which is crazy, because I only traded one hour a day. Oh, the return for that amount of money is absolutely ridiculous. It was crazy. And the reason why, you know I was focused on that is because I started with a $30,000 account. And I want to prove to every single person that was in our community, if I could do it for one hour a day $35,000 You could do it the same way. And all you have to do is walk away, people don’t walk away. Anyway. So while Ken made a lot of easy money, and here we are at the middle of 2021. And it seems like everything has changed. The first quarter of the year is when you know crypto currency went crazy. Gamestop and AMC started running for the first time. And a lot of people that made that easy money in 2020, all of a sudden felt like the king of the world in 2021, the first quarter, you know, people were getting rich, literally people are getting fucking rich for doing shit that you shouldn’t be getting rich for right. And all of a sudden, maybe mid or like more February, March, April time up, crypto currency crash Gamestop and AMC crash, and all of a sudden the market change. Right? So I mean, this market right now the current market that we’re in is extremely difficult. The reason why it’s extremely difficult at this very moment is there are traps left and right, you think a stock is broken out of nowhere zombies, you think the stock is very strong out of nowhere, you get a death handless. So for me, I found it very difficult in this past couple of weeks to be trading or trading sites, because I cannot have the conviction. And I cannot have the belief that these stocks are going to trade organically naturally and follow common price action, because they’re not following common price action. I’m very hesitant and I’m very patient and only trying to look for the best place. And hey, I’m not out here trying to make $10,000 a day. If I could walk away with 1000 hours a day or $2,000 day on a slow day they’re still going to be half a million dollars you know so what do you guys think about the market now how you I know Harry’s killing it I know James do well so what is your take on it guys?
I’m sure you can go ahead.
How Do You Stay Patient in a Bear Market?
Yeah, I think for me it was just like being very very patient and just making sure that I got a good entry because a lot of the times you can get caught up in the chop like especially like for me like since I’m longing and like I mean like just like today on on whatever stock it was that I was talking about with bail. I was like yeah, definitely gonna stop in six steps be like I could have probably shorted that if I wanted to, but I I mean, as for the most part, it’s, it’s just really been patience and just sticking to a risk, but also making sure like, because I know that I need to get a good entry in order to feel really, really, like confident, like if you if you get a an entry, and let’s say you’re on at seven bucks, and automatically you’re at 727 30 right away, you know, like, you have a bit of confidence in that trade. So, I love trades like that. But when we’re padding around like seven, like 798, and we’re not really bouncing off that level, that’s a time for me to be like, Okay, this obviously isn’t gonna work, and we need to go lower. And usually, I’ve been like, sometimes I’ve found myself like looking at stocks, like, even on a day like today, where we had like doin, like 14 and I was like, Guys, I need this as well. Like, I can’t be long in this at 1414 Plus, I need this way, way, way lower. And then, I mean, that’s just how I feel like, as long as I’m patient, then I’m gonna always like do find in any market.
Uh, how do you stay patient? What do you what is it that you do to be able to get these entries because, in my opinion, a proper entry, a good entry is like a fucking cheat code in the market, you could have the worst trade ever. But if you have the proper entry, that is the difference between walking away profitable or unprofitable. So I want to kind of hear how you do bro because your entries are fucking sexy.
I what I like to do is like, well, on a lot. I mean, it depends on what setup it is. But for me, I just I, I always picture myself like, Okay, you lost this way, like, a year ago. So why are you why are you doing that? Like, for example, on that current stock where I got it at seven bucks, like the old me will be trying to chase, the old me will be trying to get it at like the top of the range. The old me but now. Like, it’s just I literally got so many times doing the wrong thing. That’s like, I know that I need to wait, like I literally sit at a chart and I’m like, No, I need to wait. I need to wait. I need
And if it doesn’t get there, you don’t take the trade. I think that’s the most important thing.
Yeah. 100% No, like, if it if it hits like maybe maybe like you know, 20 cents like above where I’m looking at that. I’m like, No, I can’t get it. Like just didn’t get to where I wanted it. That’s it, but I know I can’t chase it because if I start puking chasing, I’m just gonna get stomped on. You know, I think that’s why it’s easier for me to kind of not be chasing like an idiot is because I know like, okay, like the end game is like a stop and for the stocks to go lower. So that’s kind of an
Harry said to me on the phone today. You said there I forget it was MRI n or whatever stock you wanted. You were like I wanted that. X and then I wanted a little bit higher and it would have been okay, but I knew if I started chasing it out of my comfort zone it would have you wouldn’t have been happy with the trade even if you won. So that’s what makes you a fucking savant at longing, especially in longing.
Im just really hard on myself. Like even if I make money like I’m gonna feel like shit. Like No, you weren’t patient you weren’t. That’s not the right way to trade.
Trade the first hour right, Harry after the first hour, you’re gone.
I mean, recently, I’ve been trading the first hour I’ve been trading the first two or three hours I think because like, sometimes I’ll have a line and it just won’t get there on the first hour because there’s just so much commotion and so much action going on. So I’m like okay, I can wait and watch. And then but usually, I’d say at around like noon niche market time, that’s I’m going to be wrapped up at that time.
That makes sense to me because that’s the middle of a zombie time. So you’re capitalising on the momentum and you’re capitalising on the zombie that’s awesome drum and I’m I love to see it because you know there’s a lot of short bias traders in the room but whenever I see Harry and Austin agree on something Yeah, it’s like when me and allow us to agree on short setups I’m just like, you know, bro, but these fuckers have their fun today.
The Hoss indicator whenever Harry says like I love this I’m like avoiding the fuck out buddy. Well look at it.
That’s the thing because we want to know what everyone else is thinking right? Because we have the mindset of a short trader Yeah, very nice and had the mindset of a long trader and knowing as much information as possible and it’s just a bigger edge man.
Yeah. And especially like I’ll read your watch list every single morning or what James or what Tom’s looking at just because I want the information because there’s been times where I’ve been even in a long trade where like, I don’t know like a week or two ago where you said you wanted something at a level and I was in from lower and I noticed that we are having a hard time pushing past that level. And then I just looked at and I remembered him back my mind like fuck, that was out his watch list. I took it off immediately chip just stuffed lower. I was like shit if I hadn’t read that I would have been crushed.
He’s that we’re a team bro routine. Even though we’re on opposite sides of the fucking trade. We’re still a fucking team because that’s sick, man. I’m glad to hear what about you James, how have you been doing this more because I know that you and I have a similar style. We’re both Neil and bail. Take the pocket money and get the hell out of there as fast as possible.
Do it The reality is like, I’ve been very consistent, which is like, pretty normal for me, which is nice. But this market, I think I realised quickly it was right after the right up for GameStop, AMC all that shit crash, I got sick first red day. And then it was kind of ever since then I’ve realised that these traps have been killing us, especially a snail and bail guys for some reason, because we get in and out. Like, we always tend to have similar spots of entry, and we get in, and then the next thing we know, stocks gone, or shifts we get in at where we always would, and it’s just goes higher. And we’ve had this conversation a million times to be like, bro, my fucking entries are perfect, but they’re just not working. And we just say there’s our markets where our style works very, very well. And then there’s the markets where we have to take our foot off the gas and kind of just reevaluate. And I think something I made for myself is I’ve stopped kind of scaling big into any position, like I stopped kind of scaling, I give myself one to two bullets. But really, I’m only adding to a winner. And that has allowed me that I think I’ve had like three red days in the past couple months. And it’s allowed me to keep my red days like nothing like dirt small like nothing like even today I had a trade. You know, I scaled in my 30% and like two bullets. And then I had a breakeven stop because there was that BSQR just once I felt that it was playing games, I put a breakeven stop.
that breakeven stop, save you $2 a share.
Seriously, it’s like and that’s what it’s been like. So as long as, as long as I continue to stop out when I’m wrong, and I don’t allow myself to get kind of an ego and think like, oh, this can’t go higher. Because we’ve seen it with Bwin, we’ve seen an MRI and these fucking things just can go higher. And I tweeted about today, man, it’s like, I know, we know how many people who can make money but how many traders on Twitter do I see that can’t fucking stop out? They can’t get their ego out of the way and just say do I need to take the loss and move on? Because as long as I keep my my money in my account, I can give less of a fuck if I lose a couple 100 bucks in a day. But why give a shit
Problem that people face? Yeah, it’s I don’t think it’s I think it’s you go you go definitely matters. I think it’s also real people just like you don’t fucking sit there stop or it’s like very easy not to do it. You’re like, oh, fuck me. I don’t give a shit. Like, I mean, if I’m totally totally honest with you guys. I’ve seen so many traders come and go. I’ve seen fucking people making a million dollars. Then one month later, they’re at literally zero. I’ve seen people fucking I’ve seen it all man, I really I swear to God, I’ve seen it all. And the number one thing it comes down to it, we say it too many times. But it’s risk management. These guys are not sitting there MAXSIZE they’re not sitting in MAX STOP they’re not sitting broken levels. I am a professional trader. I’ve been trading. I made a million dollars last year. I’m way over a million dollars this year.
The Difference Between Being Right in the End and Making Money
And I have a max size that the broker level. I have a maximum loss at the broker level. And I have a time a day that I walk away. So if the millionaire traders having all these things, someone that’s $100 trader doesn’t have any excuse to not have these as well. No.
Yeah, no, I definitely agree. And I think like another thing is that I see a lot of people like It’s like there’s a difference between like being right in the end and like making money. You know, like some people are just trading just to be right.
I’d rather be fucking rich bro. I dont give a fuck.
I mean, if you look at Bao nailing and baling every single day, like I mean the man’s just purely in it to make money. I mean, he’s Scotland 30 cents, 20 cents, 30 cents, right? Like, who wants to come in and make money every day? But when you have the people with oh well we have an offering and a fundamental and I’m gonna get in at six and hold till for every single play.
Those guys are gonna learn the hard way right think about bow is the reason why biotech so much scalps is because he’s a fucking lunatic number one. And you should, guys that every single trade that he’s taking is an opportunity that you could have taken to make money. If he’s able to take that trade and make money. That means that you could take that trade and make money. And the thing about Bauer is in my opinion, our trades better in a slow market because the channels are easier. Yeah, so that is something that I tried to mention the bow I’m like, bro, hot markets are not your bread and butter. You are very good in the slow, methodical markets. Whereas for me, bro, slow market, hot market, good market, cold market. As long as I have range. I can pull out money. I can’t pull out six figures every day. Yeah, but when those opportunities do come like a Gamestop or an AMC, I had my fucking biggest ever and it’s actually ironic, because a district came in the mail so
Not planned. But I got an Instagram ad about like how you can make your own like playing as sick like a plaque. And this is my AMC trade. It’s you could input your share. So I had 30,622 shares at was like an average price of $73 and I covered at $50 for a $700,000 been chosen here. But I have this now as a memory of my biggest trade power.
You know what’s funny about that day is I remember after you after I locked it up for the day I was done, I was leaving you were like, Oh, I’m up 400k And then you go on YouTube Live or whatever.
And he’s like, up another 400 So I can tell.
I literally was in my head. I’m like, This dude’s still in it because you’re sitting there you’re talking keep looking back. I’m like, this motherfucker is still in this thing.
I got out of it, and then bro it this person should stop. And it was starting to break down and Gamestop started to break down. So I was like, fuck it you I’m gonna put on a position. And then while I was doing the YouTube Live instagram on the ship plummeted, someone’s like AMCs pagan. I’m like, I look back and I’m also brought up another quarter million dollars and I’m like, no fucking bow isn’t gonna kick my ass. Yeah, I was crying. I was my biggest day ever brought $700,000 in one day, and that led up to my biggest week ever, which was a million dollar week. And the interesting part about that is this. So this year as of June 6, I’m up about like 1.61 point 7 million which a lot of money is a great amount of money. But 1 million of that 1.6 million happened in one fucking week. So in the market, you never know when that opportunity when that moment is going to come. But when it does come you have to capitalise because as much as I love AMC as a stock as much as it’s incredible as much it was the biggest fucking challenge of my entire trading career, and I smoked it.
Dealing With the Volatility of the Market
I never wants to fucking ticker again bro. I have nightmares about going to the theatres now. Perfect is part of it.
But How perfect is that? Like it is exactly how you’ve kind of taught MIT to trade you hit you nail and nail every day. You may you add up gains day after day after day. And then you have those homerun days.
Make your year your month and think about let’s say I didn’t have that whole Monday. Nail and billing. I still cleared 600,000 In your bro Yeah, I’m on track to make a million by just nail and Bailey and that’s the thing, Brody Sure. You can make 5 million you can make 10 million you can make 20 million sure it is possible in the market. You know, we’ve seen people do it is possible. The problem is that like, I don’t know about you guys, but instead of trading all fucking day and trying to make more money, I would rather enjoy my day. Yeah, the reason why we got into trading guys is fucking freedom. You’re only free when you have free time. freedom equals free time, right? Yeah. And for me if I’m able to trade an hour a day, work on MIC have finished my day early. That is freedom. To me. Freedom to me is an extra Lambo. Freedom to me isn’t a summerhouse freedom to me is being able to leave early, enjoy my day. And hey, if I want to de drink, if I want to go to the spa, if I want to go do this, if I want to go do that, you know, no one can tell me to do anything else. Because I put in my one hour of the day I made my $5,000 and I can’t really spend it fast enough, you know? Yeah, 100%
And I guess this is like a pretty good segue because we just talked about how insane the market was and how much you made. And now, given the sentiment, like what we’re in now, how do you deal from going from like making a million dollars in a week to now dealing with these days where some days you’re gonna be up and you might make pennies, then you might make 10,000 20,000? Or you might be down fucking money? How do you kind of switch to that?
That’s a good question. And it’s a good question. So what I like to do, man is I know I mentioned it, but I like to keep my accounts small, because the more amount of money I have in my account, the more I’m just like, shit, man, I can make a lot more money. If I got fucking 100k In here, I can make a lot more money with a million dollars in buying power. So what happens is my brain tends to trick me. It tells me all right, I got more money in the account, I could risk more money. And I do admit that I fucking love trading and that sometimes I’m a degenerate and I do fucking push a little bit harder than I shouldn’t be because I’m very competitive. But what I’ve learned based on my personality, based on my personal, you know, mentality is the less money I have in my account, the more humble it keeps me because I could not afford to lose a big amount. I’ll give you an example. When the AMC trade happened, I was like, bro, it’s coming. It’s fucking coming. It’s fucking calling. So what I did is I wire $200,000 into my trading account. I was like, you know, my accounts 30k This is the biggest opportunity of the year 30k is not going to cut it. I need 200,000 in there. I need a million dollars in buying. Okay, I got my buying power and that’s an advance someone that’s new should not be doing that. I’ve been doing this for a very long time. So I understand which opportunities require a lot more money. So what I did is I wired in that one I mean, I traded the stock. And when I was done with that stock, the same fucking day, I swear to God, I contacted my broker and I was like, I need a wire for half a million dollars out of my account. And they’re like, sorry, you could only wire 50k out or 200k out because we gotta let the trade settle. So the next day, I wired out the rest of the money. So basically what I did, I took that money, I instantaneously took it out of my account. And while I was back to a $30,000 account, like it never fucking happened, and I was back to being my humble self. Oftentimes, when all these guys have so much money in their accounts, it makes them very loose. It makes them very lenient, very relaxed. And for me, if my accounts 35,000 Shit, man, I can’t afford to lose more than 10,000 or my accounts under PDT, if my account is a quarter million, I’m just gonna sit here, I’m gonna have my hands in my pants. I’m gonna be like, You know what, I’m down. 50k I’m down. 100k, but I still got room.
And that’s the problem. I did that in the past. And that is what trade or maturity is about learning to ship after you’ve been there done that. Yep. And that’s why it’s so important to fucking listen to this ship. Because I swear to God, man, I as much as people look up to me as much as people think that I’m an amazing trader. I’ve made literally every fucking mistake you could possibly imagine. Not once, not twice, probably five to 10 fucking times I made that mistake, because I’m recording.
That’s how I feel as well, though, because like when you’re talking about like patients and shit like that. It’s like, no, like, I’ve long this area before it didn’t work out. I’ve chased this high before that is where you learn from your mistakes.
Yeah, and the problem is these mistakes take you 510 15,000 hours, views, and autobuy you lose by 10 $50,000 ever again in my life. So the point is, by listening to this, by understanding what we’re talking about is coming from real perspective, traders are risking fucking real money every single day. I mean, you could choose not to listen. But I promise you when that day of reckoning comes, when that day that you didn’t set your hard stop, and your account blows up, you’re gonna come back and say, You know what, all I had to do was put in a hard stop, and I’d be able to trade again, fucking tomorrow, to not let one stock take you out of the game forever. And AMC and Gamestop took so many motherfuckers out of the game forever. And if they didn’t take them out of the game, I’ve heard about multiple people losing focus seven figures on those stocks, bro, and you’ll, and they’ll never fucking talk about it.
It’s true. I mean, I What’s What’s crazy to me about a lot of that, it’s like, you know, you see these guys making money so much fucking money constantly. And again, he talked about the losses, but I feel like most traders, they have the least amount of like, I don’t even know how to word it. Just when they take a loss of that nature. They have trouble fucking like owning up to it or saying that it was their fault that fucked up, whatever.
Well, how do you how do you come back from a loss? You know, dude.
I mean, but you do it and and that’s what’s crazy about you is like, I’ve seen you make 700k in a day or a million in a week, but you’ll take a loss and you want it and I’ll call you a big dude Sick Day. And you’re like, Dude, it’s just a day in the office. But you take a loss. And of course, you’re just like, dude, I’m just pissed about the process of this, I fucked up the process.
This dip shit bro is it that’s it, I stopped getting loose. That’s the fucking pop bro. And for anyone that’s struggling right now, for anyone that’s not really making money right now, for anyone that’s maybe bleeding out. You know, my biggest advice to you what really helps me after losing day is number one eye size down. So if I’m using 1000 shares max size, on that day, I’m going to be using 500 shares max size. And my goal bro, I swear to God, it’s gonna sound crazy, is you got to walk away with green by either $1 or more than just dollar doesn’t have to be after conditions doesn’t have to be whatever, just walk away green $1 At least to tell yourself, you know what, that was just a fluke. I could do this because trading when you lose, lose your confidence that if you lose your confidence too much, it starts to focus spiral. So for me, I think my gift as a trader is that I’m able to ignore the winds and ignore the losses. I don’t really get too caught up into highs. I don’t really get too caught up in the lows and that gives me a level of equilibrium. You know?
Absolutely. Harry, how do you do it? How do you handle the loss but I don’t see you lose too often.
Watching the tape!
How to Deal With Losing Days
Most of the time, most of the time see a lot of my losses are like if I do have a bigger losing day it’s because it’s like, like minus 10 cents minus 10 cents minus 10 cents like yeah, they add!
The only time I have a bigger Green Day but now like I’ve really really taken a lot of steps to try and like combat like my overtraining because like and like it hasn’t really been a problem recently but it was a problem in the past where like Like, either I would get, like, I would wait for line and like it wouldn’t quite get there and then I’d see it. So I just start chasing and like, that’s the wrong way to go about things. And so I guess like what I do is like, like, I limit my entries per ticker. So like, unless, unless there’s like something insane that happens, you know, which there won’t be long side on short side, you’ll get a stuff move. And it’s like, okay, you know, this is done. But as far as the long side, like, it’s more of like, okay, like, you’re kind of like fishing. And then if things work out, like they work out big. So I guess like, as far as like, losing days, like, I mean, I keep my risk management to like on lower price stocks, like, I don’t want to be risking more than 20 cents. Like, that’s way too much for me higher price, I don’t want to be risking more than 30 cents, that’s too much for me, too. And so I mean, that’s just kind of how I’ve been been doing it. And as far as like handling it, I’ll either like take a small break, or I’ll just like, like, I like i There’s a guy who, who lives down like the road for me, who’s also in MIC, his name’s Justin Kennedy. And like, he records the tape every single day for me. So like, half to two to three years worth of tape from this guy, and I’ll just watch that. And, and like my girlfriend knows, like, like, like, not because I have a losing day just because of a fucking addict. Like that’s literally what I’ll do all day is all either like my typical day like, because like Canada has been so like locked down for the past like two. I’d say like, not two years, but I’d say for the past year, like I’ve been putting in the solid like, like maybe like, seven eight hours a day just like either reading the tape watching the action doing something for you. You’re telling
These entries aren’t luck is Oh, you’re telling me?
Well, I mean, yeah, something like that. But I mean, that I’ve kind of been doing you know, and I mean, that’s what’s kind of helped me is is really like putting in the screen time and really just paying close attention to what’s going on, you know?
Well, losses are funny losses are like funny in trading, because I remember I used to, like, eat me up so much. And I’d take a read they’re like fucking like, fuck this shit. I’m done. I hate this shit stupid. And like, that was early on. And like now it’s like almost losing days, I kind of can just laugh about it. Because I think more traders need to like, normalise, like losing like an average Green Day is like your max loss or like that not every loss has to be your max daily loss in the day. I mean, there’s days where like, I’ll lose like 100 bucks, and I’ll just be like, Oh, fuck, like, get stopped out basically breakeven, whatever, and you can just walk away. And it’s just, it’s crazy to me, like that’s why I love trading with all you guys. Because everyone can have a losing Day everyone post about it, bow, Alex everybody, and just the way they handle it without going back and like taking it out on the market. Taking it out on anyone else. It’s impressive. And I think it’s, I think it’s something.
Routine or process after they lose. Like for example, when I lose or when I lose the day and I shut down everything. I go get myself the fucking most expensive steak on I give myself the biggest chocolate cake I can get off my face, and I just eat all the pain away. I sit on I put on like a nice Avengers movie or like a Marvel movie, and I start watching TV. And you know, all of a sudden, by the time I wake up in the morning, I’d say myself not been here before. And every time that I’ve been here, I’ve gone higher. So this is my opportunity to excel again. Because in my opinion, you could tell a lot about yourself and just as a person, by how you come back from adversity, and how you come back from losses. And I’ve been in this game long enough to have so many big losses. I keep reminding myself and I keep telling myself, our process works. Our process is ironclad. I’m not going to win nine I’m not going to win 100% of the time, but that 90% that I win is going to more than offset at 10% of the loss. So example I lost like $80,000 in one day like last week on MRI and I was a fucking Jackass I overtreated I didn’t use stops I was using my ego you know pretty much bro like it’s been like I don’t know three days four days I’m pretty much 40% 50% I made laws back so like doesn’t really matter doesn’t really change anything? Sure it’s still stocks being down 40,000 But I mean by the time this podcast is done recording by the time it’s posted live I’m pretty sure I’m gonna make it back because our process works. So as long as like you say you keep your losses under control. You don’t lose more than a day or a week’s worth of work. I’m used just to book another day at the office I mean it does it if your process works and you’re a consistent trader and you consistently make money well that was our to worry about what that was there to worry about. You should only be worried if your process doesn’t work. If you’re not consistent if you’re relying on someone else if you’re fucking Chase into it always bullshit. So I mean, losses suck. I mean, no matter what level you get it suck You know I’ve great amount of money by has a great amount of money and even if the fucker loses 10,000 hours he’s still pissed because he won’t go with a foot massage go get a fucking go get some focus Sushi Go go out and go drink a little bit go have fun because you know loss is also for me personally they humbled me back down and they make me realise you know what if my biggest problem right now is that I have lost like I’m healthy my friends are healthy like happy like I have all these amazing things to look forward to it’s not that bad so try to focus on the positive try to focus on the good and remember come back the next day be green and you’ll be surprised how much your mindset expects.
Yeah, I agree. I definitely agree with that 100% And that brings us to the last point as well of like you know, drawing lines as far as like tape reading goes making a plan everyone wants to know about tape reading but I mean it I mean I don’t know about you, but that for me it really goes along with my plan and it goes along with experience as far as I go like I’m not just gonna sit and like pick up everything
The smart relative readings hard because in this day and age the team is very extremely manipulated there’s so much fucking media believes shouldn’t happening right now that like you think you’re looking at something as you think you’re looking at a fish but it’s actually a pocket starfish. Doesn’t make it doesn’t make fucking sense, right? So if you’re trying to read the tape in this market, joke’s on you, because it’s like hieroglyphics, but the only thing that works 100% ironclad is the lines and technical analysis. So in this market, you should be focusing on technical analysis. Tape reading sure is important, but the tape could be very manipulative. So at this point, focus on technical analysis only.
How to Stay Content With Your Gains
I haven’t been using tape at all to be honest, because I feel like I get lost in the tape. And I maybe that’s what I kind of get like maybe a confirmation bias. So I’m gonna go you know, this is this is a hidden seller here. There’s this where, at the end of the day, especially in this market, like you said, the only thing that has been working is my lines where I get in.
The algos don’t care about the tape roll the algorithmic care about the fucking pattern. And the pattern is the fucking charts do so if you want to be able to make money you gotta follow big money. Big money is the fucking algos bro. Instead of fighting them fucking join their side, bro. Right. Yeah. So if they’re using technical analysis, and they’re manipulating the tape, you can’t manipulate the tape. So you spoke in technical analysis? Yeah.
Well, that’s it. I mean, I think I think in this environment, too. I mean, I feel like people always tend to lean on those skills. And they always say, Oh, how do you do this? What do I need to look at the tape what I need to learn? And in reality, it’s funny like I remember like, on the day you made fucking 700 grand. I bet you’re not staring at the table. They are looking at the level you’re saying I’m interested in levels like they see whatever
Support resistance this that, you know,
People want to sound smarter than they are. That’s really what it comes down to.
People want to overcomplicated bro. He loves to overcomplicate this shit. Crazy.
I’m gonna do a bit of like, I know there were some people.
Yeah, let’s do the audience q&a. Yeah. Yeah.
So I James texted me a couple.
I actually have him up right here
If you have all them. Yep. Yep.
All right. So the first one, we got to just go for right here. How do you stay content with your gains? And what’s the best way to deal with greed?
That’s a good question. That’s a good one. Let’s start with the first one. How would you content with your gains? I mean, like I said, guys, I don’t really focus on the numbers too much. I mean, when I’m trading these days, I look at the p&l after the trade is closed, right? So what I do is I trade the stock trade the chart, I focus on the chart, I focus on my entries and focus on my exits, I exit trade, I turn left looking at my p&l, I’m either like, oh shit, or Oh, fuck, right. So that’s, that’s kind of what helps me what helps me is I don’t really get too caught up in the numbers. Because the numbers don’t matter more than the process matters. You know, if you are focusing on your numbers, you know, you’re going to be very emotional, you’re going to be trading the p&l and not the pocket process. So for me, I like to trade the chart, I like to focus on my entries focus on my exit. And then after that, is when I look at the money, and additionally I wire out that money, I put it into my bank account, and I let it sit there and I’m not the type of guy that checks my bank account every fucking day. I let it sit there and let it grow and grow and grow and grow. And the second question, how do you control greed? Well, what helps me control greed as I walk away as zombie times, because if not, I’ll sit there all day. And because I’m greedy, I try to make a little bit more money. So having a set time a day or a set signal that tells you to walk away is your combat against greed because humans by human nature are greedy. Motherfuckers we are greedy creatures. It is in our DNA. It is in our fuckin In our body, so you can’t poke and fight with evolution, the only way you can fight with evolution is by walking away and turning off the thing that triggers that greed. And that’s why I walk away every single day.
Yeah, I think that’s, I think a point of like having that trigger to walk away, that it could be overtrading. For some people like
It could be, let’s say you give back 20% of your profits on there. Have a give back rule. All right, I made $1,000. Today, this next trade if I lose more than 200, I gotta cut it, and I gotta fucking walk away. And that’s my punishment.
Yeah, that’s good.
We got a couple more here. So do you? Do you get performance anxiety? While starting day? Do you get less anxious? Or how do you get less anxious for trades as you develop? And is there a way around fake outs or at least a way to get less faked out trades? So you can attack number one first?
Yeah. So how do I deal with performance anxiety? Performance? Anxiety is very real, especially for someone that is running community and someone that posts their daily profits as someone that is like a mentor to other people. Sure, it does really get to me, it’s stressing me out a lot. How do I deal with it? I mean, the way that I deal with it is I try to trick my brain. And I tell myself that, you know, even if I have a good day, you know, if I have a bad day, the members will appreciate me losing money more than me making money, not because they want to see me lose, but because it makes me more human, because they can relate to a more and because there’s a lesson there. So in the past, I used to get upset. I used to be like, You know what, these losses suck. But nowadays, whenever I have a loss, it actually makes me happy because it shows the community and show the world that I am indeed Okay, human, you know, how to deal with traps how to deal with fucking fake outs. I mean, beats me, it’s really no real strategy. There’s no real formula. The only way to avoid fake outs is to avoid the hot stocks, because the hot stocks are the ones that are manipulated. So if you focus on the side stocks or the broken stocks, chances are they’re gonna be less than the blade, which is less broken bullshit.
I agree. I agree.
And then there’s just two more. Aside from lines hard stop and risk management. What are the other key areas any trader should adhere to every single trade.
Zombie walking rules, bro! Calls that the undead rules. They call it the vampire rules. They call it the 30 rule they call 30 rule that rule is worth millions and millions and millions of dollars that we give it away for free. And that’s the craziest part about this whole thing is that you could give someone a million dollar strategy to be successful, and 99% of the people will not listen. How many people in MICC are not fucking leaving zombie times right? How many people in the regular stock market are not leaving zombie comps? I am making $1 million by walking away. Walking away is what’s keeping that money in my pocket. So the biggest advice short trader is walk away at 1030. Long trader start puking trading at 1030. Yeah. Yeah.
100% The golden rule
just gave it away again, bro. I gave it away.
And let’s see, the last one we got is how do you guys deal with Max losses? How do you set? Is it a set number? How did you come up with that number.
You should be your days gain. If you’re making $500 a day, your max loss should be $500 a day because you’re like, alright, I lost 500 On Monday, Tuesday worst case scenario I make 250 and Wednesday, I make 500 All of a sudden and I’m green. The problem is people set their max last numbers way too fucking high to a number that’s gonna take them months to make that and because of that they sort overtrading they revenge trade and they start breaking the fucking process. So your max loss number should be nothing more than a day’s worth of work. My current maximum number right now is about 10,000 hours. So 10,000 hours what I make pretty much every day so I don’t want to lose more than 10 grand because it Thank God if I lose 10 grand, it doesn’t mean anything to me. But if I lose 200 grand I’m gonna be a little bit fucking pissed.
That’s perfect. Yeah, I think that’s that is all of the q&a questions. Yeah, man, I think I think this episode, if anything, to not kind of wrap it up. I mean, there’s so many lessons to dive through, actually. But it really is like, no matter what the market, it all boils down to, in my opinion, no matter what the market sentiment, no matter how fucking tough it is, how easy it is whatever. It always comes down to sticking to the same process that you’ve traded day after day after day. Doesn’t matter for me.
The hardest part is finding that process. We made it for everyone. We did. That’s the hardest part. The hardest part is finding it a winning strategy that’s consistent. That pays out money can we fall can happen from
My last question to you actually, before we even wrap it up is Why do you think most people can’t stick to it? What do you think it is?
I think most people don’t trust it. I don’t think they think that’s like, I don’t think they think that it works. I don’t think they think that it’s as simple as setting your orders and waiting. I think a lot of people have FOMO a lot of people don’t want to miss out on the trade. A lot of people get anxiety. And because of that, they rush their entries. They rush their trades, when if they just waited and follow their plan.
Oh, I love it.
I love it. Harry, you have anything to wrap it up with?
Ah, I mean, not really got a lot in this straightforward interview. And I mean, it’s exactly what you’d expect. You know, it’s just, you know, someone who’s been trading for a while.
Trading way too fucking long, bro. I’m 27 so that means I’ve been trading for over eight years now.
Yeah, I mean, it’s just it’s someone who’s been trading for a while and who’s willing to kind of share
For a multi decade you brought balance over two decades
scary, dude. I mean, I’ve been trading for three years now and like it started yesterday. It’s disgusting. I hate it. It’s funny, but anyways, Alex thank you for coming on man. Every time you come on is a bunch of fucking golden nuggets. sumptious be one of everyone’s favourite. So
Bao back on and you guys. Tosh? Yeah,
We try with Tosh but Bao I think he’s coming on soon, so that’s good. No
Bao will come on. Tosh is too busy with the ladies.
Break Baos balls a little bit while he’s on. All right.
We got it we got a man thank you again, and I’m sure we’ll have you back on it soon. Cool. I’ll see you guys