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James 0:02
What’s going on guys, we’re back with a special episode of the after hours podcast. It’s a little different today. It’s just Harry and I, we’ve been doing most of our episodes with other members or moderators at MIC. And this time around, we kind of wanted to just drink with each other and chat and like kind of talking about shit, that’s gonna raise my desk. So I guess I just wanted to like shoot the shit and like, talk about the market and talk about how we’ve been trading, maybe answer some of the members questions that we’ve gotten over the past couple of days. So yeah, so we’re just gonna jump right into it. So Harry, how is your trading been recently? And how are you kind of adapting to the overall market right now?

Harry 0:40
Yeah, I think for me, I mean, my trading has been pretty good. Like, I’m not gonna lie, like I’ve like, even though like a lot of people are saying like, Oh, it’s been a shitty market for a long time and spend a shitty market in general, which, I mean, it has been, but my trading has been pretty good. As far as like, the kind of like, adaptation of how it’s been going. Like, I’ve kind of noticed that in the market, we haven’t been getting that many runners. So I mean, I’ve honestly been like sleeping in an extra hour, or an extra two hours, because I’m like, there’s no point in me sitting at the desk when there’s no pre market runners to even kind of want to get long on. So I’ll usually start kind of longing, like looking near the open. You know, if there’s no hot chick, I’m obviously going to take a step back and kind of say to myself, Well, okay, like, I’ll wait till zombie, I’ll wait till we kind of get something that’s worth wanting too long. That’s doing enough volume for me to kind of like for me to kind of like get a decent enough chart setup. And then I’ll look to kind of attack from there. But I mean, for me, it’s been pretty good. The key for me, and I’ve been getting questions from a lot of people who are longing, you know, the key for me has just been being disciplined, and not logging every single fucking goddamn thing that pops, you know, because we get tonnes of pops. And, you know, a lot of stuff, a lot of stuffs a lot of stuff, right? We got to stop that goes from like, low day to like, friggin like middle line. And everyone’s like, Man, this is gonna be the one this is gonna be the one and then it stops No, like, you know.

The First Market Cycle Without a Runner

James 2:14
I think this might be the first like market cycle, where like, because you know how usually like Alex always says, We’re due for a runner or we’re due for a runner overdue for runner. This might be the first market cycle where like, a runner doesn’t like Spark things. It might just slowly change back to like, a movers market but like buying now, I feel like we would have had that like fuck you run or like that, like, yeah, big like something, but we just haven’t gotten it yet. And I think I don’t know what it is. And we talked about this recently, like, all these stocks are just pushing volume, like a little bit of volume and selling into the liquidity, like, everything has been like push, and then a huge brick order will come through and it just stops it down. And it’s like, as a long, it’s got to be tough for you. But one thing that’s cool about you that I liked, and that a lot of other traders will like ask me about, I don’t know why they asked me but like, I feel like you have long setups that can pay you pretty much every day. And I feel like as a long that’s really, really crucial. And I think that’s cool. Like how did you how did you even develop like those setups? And you I mean, I don’t see many days where you’re like, I’m not trading? Like, oh, yeah, so like you have the setups that make you money. So how did you kind of develop those and like, how did you kind of end up there?

Harry 3:23
Well, I mean, for me, I’m not, I’ve never really been a strict kind of setup guy. I mean, my setup is always going to be those day one gappers. But I mean, I just look at it, you know, kind of, I think, to a point of view is where I was a short seller before, and I really did enjoy shorting but I found myself you know, a while back where I would get some really really good shorts on and they would pay me really really really well but I was like shit like I’ve always wanted to long that was the same thing with Austin like Austin would get really really good shorts on like, I remember like Alex would be like Damn, that was a sick short on like whatever hair you got to start shorting and I’m like Nah, bro like, I just I love longing like and I just always kind of have and but also another thing is that I have watched a fuck tonne of tape, you know and it’s not even necessarily saying Oh, we got this like you know whatever uh you know 1000 Share seller here we got this 1000 Share or you know, you know 1000 Share seller there or whatever it’s really been for me just watching the pricing, how things react you know, looking at kind of like notable levels and just kind of using that to my advantage I think that is what definitely has helped me out the most also kind of the MICU processes you know, knowing what stocks to avoid that has definitely helped me as well and just kind of hearing things from you know, bouncing things off especially in the main chat from like you Tom, everyone, you know, we all are on the same page. I feel like every single morning and that’s something that’s definitely helped me a lot too. So I’m mean, setups, I’m not really a setup guide, but I just pay attention to the price action. And, you know, that is all I kind of focus on, you know?

How to Stay Away From Trading Dumb Shit

James 5:11
Yeah, I feel like for you, it’s like, man, we’ve talked about this in previous episodes, like, you know, I know the set, like, like you said, we don’t even call them setups, but I know the trades that you’re going to take most of the time. Yeah, and, and I feel like you keep it really consistent. And like, for all the long’s that are inconsistent in the room, they seem to be taking inconsistent trades. I know. And I think, I think that’s like, that’s the biggest struggle because I think for shorting, especially like, there’s not too many setups, like there’s like, shorting into a resistance shorting into VWAP. Or, like, you know, shorting a break down of a key support. But for longing, like, I feel like you could come up with so many different, like, different trades that you can be like, this is a V Whap reclaim, this is a low a day, hold. This is like a high day breakout. This is like, it’s, you know, that no fucking grinding up and it’s like, whatever. And I feel like, that’s what’s impressive about you is that you’re able to, to, like, stay away from like, trading dumb shit. And like, how did that how long did that take you? How did you get to that point of like, stopping me like, fuck, and stop trading this dumb shit? Yeah.

Harry 6:21
Because like, I remember, like, probably like, two or three years ago, like, you know, Jack Kellogg. He was, he’s been an MIC before, like, I mean, everyone. Everyone is kind of like been in. You know, I mean, I was never where does that? ,

James 6:39
In and out ? Yeah!

Harry 6:40
I think a lot of people have been kind of in and out. And, you know, he’s, he was a really good friend of mine. And, you know, before when I, when I, you know, was talking to him, we would always look for like, kind of like the signals and like, sometimes they were consistent. Sometimes they weren’t, we were always keeping take risk on them. We were like experimenting and learning. And then I think I kind of said to myself, like, what if I just say fuck it, and just take those trades where I know, I’m going to be right. And I kind of follow that intuition. Because I was talking to a long trader today. And he’s like, I knew I was too early, but I still took the trade, or I knew I was, you know, not in the right frame of mind. And I still took the trade. And for me, it’s always been about maybe that third test of the level, you know, that’s gonna break eventually, right? You know, the third time is the highly probable time for that to break or, you know, when, you know, you see that kind of, you know, maybe high day rejection, but we keep kind of grinding higher and higher and higher, like, you know, and you see, shorts are stubborn, like, that’s something you know, you can always, you know, look for, also, I mean, I find a lot of stuff is just me as a short seller thinking like, okay, where would I go like rookie, short, old time? You know, what, how would I get that kind of rookie short on? That’s helped me tremendously. Because you know that as a short seller, your whole kind of mantra is just saying to yourself, well, these stocks have got to go down, they’ve got to go down, they’ve got to go down, they’ve got to go down. And then when they don’t go down, and they start to grind against you, you’re like, Well, I can’t stop out here. I can’t stop out here. And we finally go para. And when we go para, and we get those big kind of candles that scare people out, I’m like, Okay, well selling here. And that’s how I’ve always kind of really done it, you know?

How Do You Know When to Sell Out?

James 8:35
I think the coolest thing to like, you actually, like, I hate these questions that I get that are like, how do you know when to get in and get out. And it’s like, I think using a long biased trader is actually like easier. Because again, it’s like, there is a point, technically we talked this last time, the last episode, as a long it’s like kind of weird because technically the stock can go to 100. Yeah, but like the reality is as a smart day trader and as an educated day trader, you know, that you’re always better to sell into resistance or sell into a key level or whatever. And I feel like that’s like a talent you have is that like, I never see you really hold for like, way longer than you should you know what I mean? Like you always like, you get out when you’re supposed to get out and it’s not like you have a superpower. It’s like I feel like you’re just selling at resistance you’re getting you’re getting in the trade. You’re taking your move, and then you get the hell out. Yeah, and that’s what leads to you as being a consistent long trader I think is really impressive, but I think it’s like fucking hard and like that’s why you don’t see so many successful small cap long traders as well.

Harry 9:40
Yeah. I think it’s definitely difficult, but there are ways to make it easier. You know, I think just a lot of long traders. The problem with longing is that as a short trader, you do have some stuff to your advantage like as long as you don’t long the hot chick can do really dumb dumb dumb shit. You know, you’re Pretty, you’re pretty decent, right? I mean, yeah, broken stocks, you have that low hanging fruit setup, you have all that shit. But when you’re a long trader you really have to say and evaluate all the stocks in the morning like this morning like CEI. You know, I didn’t end up longing it and I wish I kind of did and but on Mondays sometimes I’m a little bit off my game I find like on Mondays I’m a little bit off, I’m not as aggressive on Mondays just always has been. But on CEI, when they kind of popped it up, they, they pop it up to like 3.40, bring it back down to like 323 10 $3. And then they start grinding and grinding grinding up. Like as a short, I knew every single short seller and MIC was interested in that. And when that started to kind of go the other way. That could have maybe been a good opportunity. You know, I mean, Alex nailed unveiled everyone nailed him nailed it. But the people who hang on for those kinds of like homerun trades and like failure trades like, those are the people who got crushed. Those are the people who I probably, right.

James 11:03
Well, I was today I was almost one of those guys, because like, I didn’t hold on to it per se, but like I got in at like 3.4 3.50 Yeah. And like, the problem was like, that was my line. Yeah, this is annoying, and it pissed me off this morning. It’s put me in a bad mood because like, lately, I’ve had this feeling of like actually making good money. But I always feel this like underperformance feeling. And it’s like no matter what so like today, like 3.53 3.60 was my initial plan this morning, like it’s in, it’s in chat, that was my lines that I wanted. But I got in like, too big at like 3.45 and 3.50. Yeah, just like because there was a seller 3.50. And it was like it kept refreshing. And I just kept. And I actually got in like pretty big. I was up to like, not pretty if it goes up to like 15,000 shares, like a 3.50 average, or 3.49 average or something. And I was just sitting there, like, I knew what to like, I was in the trade. And I was like, I was like, this is grinding the shit out of anyone who’s shorting like, every fucking pop. And like I knew it. And like, honestly, that’s why I had such a small day too, because like I it ended up, it ended up tanking, like I had, I had more shares to put on it and a 5000 more, it ended up tanking. But as soon as it went green, I actually just took it off, because I kind of just waited too long on it. Like I had my, I knew what I wanted my risk to be. And I was kind of just taking it like as a stupid punishment, like I got into early, you know, my plan is working, but it’s like, I’m just, it was stupid. And it’s like, I feel like those are the times that you really take advantage of like shorts is when they’re in those positions of like, they should just fucking cut it, you know, they should just cut it because then what happens is it goes fucking parabolic. And CEI is weird, because it’s in this trade so much volume, but it’s SSR.

Stress and Stress Outside of Trading

James 12:46
But there’s so much supply. So it’s like, I feel like it was gonna be hard for it to parabolic but like, that’s where I feel like you get your biggest moves from.

Harry 12:53
Oh, 100%. And that those are the types of you know, plays that I’m looking for, or where we get that initial push, and then we fade off. And every single short is like it’s done, it’s done, it’s done, it’s done. And we start kind of grinding higher, and we grind a bit higher, and we turn a bit more and we churn a bit more. Every single person who’s short on that, you know, situation is like shit. Like, this has got to go down, this has got to go down. And I’m just going to be like, okay, you know, where’s, uh, where’s a good place for me to take profits? Like, where’s every single short going to cover or at least be a little bit scared, you know? And I’m not delusional. Like, I understand that. You know, if we go para, I’m selling, you know, this is going 10 or 20 or whatever dollars, you know, there’s been plenty of times where I’ve like hiked out early, but I’m gonna keep those consistent games where like, we get a candle that like should and the stock and then you know, we get into the afternoon and we’re still grinding and grinding and grinding. It’s like man like there’s obviously something keeping this up there’s obviously a better here. And I think it’s just really like, for shorts for Long’s for anyone it’s a nail and bail market. And today on CEI if you were long and you held that shit, even if you are long, like you know like, from from where you kind of like I guess like even if you were long from like, where was it like 320 do that and then you held it all day like I mean you probably would have ended up getting fucked so I mean yeah gorks Long’s nail and bail market.

James 14:37
I feel like I feel like right now it’s like it’s almost like a no one’s more like it’s a nail and below market but I feel like no one has like a major like there’s been days like the day that CEI like really crashed like that was like a good day for shorts. But I feel like other than that, like every day like every stock has given the Long’s and shorts like a small window of opportunity. Yeah. And then after that, it’s kind of like it’s game over and like, yeah, as, as someone like, like so I know like day trading for you is like your, your main source of income like you live off day trading, right? Which is like sick and it’s like, so for you do you find do you get like actual stress like outside of the market because of that when it’s a market like this because like I said you do your trades that you’re making everyday and making money, but obviously, it’s not the best market for both sides of people, I would say so, like, do you get stressed outside of this? Or like in does it affect your trading at all?

Harry 15:30
I had the best market, like in COVID like really good market like Yeah, years yours. Such a fucking like, like career record like amazing, amazing gains, outside of like, kind of like, this year, but also this year has been pretty good to me. Like, as long as I don’t do any dumb shit. Like I find myself just getting rewarded. And like doing dumb shit to me is like chasing a low volume ticker chasing a stock at the highs, you know, just chasing at the top of the range. That’s dumb shit to me. So as long as I don’t do any of that, you know, I’m on track for a great year. But I mean, that being said, I’m not going to go out. And you know, I hate to jinx myself, just like Alex, like Alex is always saying knock on wood. And I knock on wood as well, because like, you know, you don’t want to jinx anything. But I mean, this, this market that we’re in right now is a great market for me, it’s giving me plenty of range is giving me plenty of time to kind of get in and get out. It’s giving me It’s so predictable. Whereas like you hear me and Austin be like, Oh, we’re depressed like oh stuff at the highs, but it’s so predictable that we’re like, oh, man, like, we know where this is gonna go. So I’m not going to go out of my way and say, I’m going to hold for $1 Higher, if stocks start running 2 3 4 dollars higher. That’s a signal for me that I need to hold on a bit longer, but higher day stuff, and I’m in from middle to bottom of the range with a couple 1000 shares. I mean, I’ll take that all day, every day. I love Yeah, I love it. So that’s what I’ve kind of been, you know, doing. I mean, I don’t I see, I just don’t really get stressed as much anymore because I just have so much money saved, you know,

The Importance of Having Enough Money Saved

James 17:22
Thats key. That’s key. I feel like traders especially like, like, I know, guys, and I’ve met traders throughout the time that I’ve been in the community that like, they trade like four times a year, they trade like the first read they set up or like a parabolic like dries. And that’s it. Like they don’t trade anything else to trade four or five times a year, once a quarter, whatever. And that makes their year and then the rest of the time. They’re just really like frugal and like live like I mean, they might make like 1,000,002 million or more, but they still live very, like casual and like, I think that was a lesson. So it’s good that you know, this young but like, that was a key lesson that I learned in the past few years was like, I’ve always been a saver. But I’ve realised that as I get older too, and like more involved in trading, it’s like, you just want to know that you got it in the bank. And like, that’s when trading to me became became less stressful, that’s when using size became way less stressful to like 100% like, dude, like, using like more than 10,000 shares, like a few years ago, I probably would have been like shitting my pants because I would have been like, Well, if that works against me $5 Like, I mean, obviously you don’t want that but like that was your always your fear. And it’s like, as you accumulate more money in the bank, it’s almost like taking those setups becomes easier. And that’s like, why like, I try to say it to guys all the time in in NYC it’s like, it’s like, I What helped me the most is like, I just take the small gains, like, like people see it like, I’ll have like, a, I’ll make $1,000 I’ll make like $2,000 I might make $500 But I just let it grow and build in like, sure. Like then hopefully, like one of these days I’ll have a bigger bigger day. But like, that I think allows me to stay so stress free and like, I don’t really give a shit if I make money day in day out. And I think that that probably is huge for you as well.

Harry 19:06
Yeah, that is massively huge. Because like, I mean, I lived with my parents for so long. Right? I got I got I got so lucky where I was in university, learn how to trade, you know, dropped out of university. My parents were like, you can live with us for a few years, save some money. Now I’m just chilling. And that was the biggest, you know that that was the best launch pad that any parent could give me. Yeah. And so I’m thankful for my parents for that. But also, if you’re trading right now, and you’re just staring at the chart, and you just say yourself like okay, I’m just going to play what’s in front of me. I don’t care about how much money I make. It’s hard to to develop that kind of like subconscious. I don’t care I’m here. I just want to kind of You know, play play what’s in front of me, and I just want to trade the stocks that are in front of me, that is what is going to make you the most money, that type of mindset. But if you have the mindset of like, well, if I put my spreadsheet and I make 10% or 20%, tomorrow, I’m gonna be rich, right? That is not going to be the type of mindset that you want, right? Both of us both know what, where, if you’re just chilling, like you look at Alex, right, Alex is a is a, probably the absolute best example that I’ve learned from as like a mentor. Same with bow and as a person. You know, I feel like we both kind of been able to learn from him. Whereas like, he He is literally like, I’m only adding size on the plays that I know. Sizes worthy. Yep. And that was just such a key turn around to me also the way he adds to his winners. Yeah, right. Like he has like maybe like a couple 1000 shares on his line. Sees it reject vaguely ads. Bigley. Yep.

How Do You Add Size to a Winner?

Harry 21:08
Mass, mass everyone everyone’s writing like, how do I add to a winner? Alex trade was Alex does it just such a fucking big lesson for me? Right They Alex is gonna if Alex is going to add into a fucking red candle, adding size when he knows he’s right. And he knows he’s got it in the bag. I’m adding some fucking size to a green candle. When I’m talking right now. I’m fucking got it in the bag. You know? It’s not knowing that you’re fucking right.

James 21:46
I agree. I feel like everyone I swear. So like, people probably don’t know this, but as a mod, like we get tonnes of DMS from members asking questions. Shit and like, I honestly think 90% of my questions are seriously like, how do I add to a winner as a short seller? And I’m like, I’m like dude, you’re you’re there’s two types of traders right? That in that we’re surrounded with like, You got bow who like bow doesn’t really add to winners bow scales and he’s a robot so like, you either trade like a robot at all times and you scale accordingly or you don’t like I think it’s really hard to mix the two but like if you want to add two winners like Alex like like Harry said, you just have to fucking watch them because when you watch his trading it’s like once you know you’re right. And if you don’t know when you’re right or not, then you shouldn’t be adding to a trade that’s like a key a key key thing like if you’re adding like like today this was a mistake I made is like I added almost to my full size when I didn’t know I was right. I felt I was right. But I didn’t know that I was right and I think that’s what fuck me and that’s why I was too early. And it’s like if you’re adding size to a stranger you know you’re right like either you get to know you’re right is different for everybody. It’s either you get that rejection you want you get the death Big Red Death candles stuffed candle, or it just gets to your line and it confirms that your level like whatever it is like that those are your signals like I don’t fucking wait to get in like I there was a question on here that was like, one of them was like when you’re adding to a position like how do you do it without removing liquidity like, Dude, that’s pretty much all I do. Like if I’m gonna get in like I want to get in like, I don’t really give a shit. Like I was Mark not market we’re in but I was like removing liquidity to fill like 5000 shares at a time. I don’t give a shit that I’m racking up like $15 in commissions or whatever, because if that shit goes like, yeah, you make a shit tonne of money. Yeah, it doesn’t matter. It’s like people overthink all of it so.

Harry 23:37
I don’t give a fuck all fucking market order when I want to fucking market order you know, I don’t have a fucking set rule I’ll fucking do whatever I want. When I know that I’m going to make money. And that’s the thing is like, if you know that you’re going to make money based on the chart based on what is in front of you not based on some arbitrary p&l goal, not based on some fucking bullshit. You look at what is in front of you. And you have that gut feeling not those you know, the thing is with long traders is that they’ll they’ll go along they’ll be like, this is the breakout or this is the fucking whatever one time, they’ll chase strength again, they’ll chase strength again and finally on that fourth fucking goddamn time. They’re right. And that’s where I’m fucking long because it’s like, first time we got up to that level. We were too extended. We need to pull back. Second time we got to that level we got up there too quick. And that’s what I’m thinking right? We were you got up there too quick. I’m literally I literally just sit all day. And this is completely fucking true. I sit all goddamn day and I’m like, that wasn’t right. Nope, that wasn’t right. No, that wasn’t right. No, that wasn’t right. Because as a long trader, you need to be so goddamn picky. And you need to be able to say and you need to subconsciously admitted to yourself and be very, very real with yourself where you’re like if If this actually goes, I can still be unaffected for the rest of the day. Right?

How Long to Size up a Short Position?

James 25:08
I think it’s like if you miss it.

Harry 25:09
Yeah. Because there are a tonne of big pumps, there are a tonne of big dumps for short sellers, right. And usually the reverse ends up happening, right? We see a big dump pre market, everyone piles in short, we start going the other way no one wants to cover we don’t care about open, we see shit, you know, big pump. Everyone has that long FOMO and then boom, boom, boom, the you know, they all get stuck. Right? So it’s about knowing market psychology as well. I think that’s that’s helped me, you know, parents? Yeah.

James 25:37
How? How long do you I don’t think I’ve ever asked him this question. But how long do you differentiate the setups that you take size on versus not? Because like, I know, as a short how I differentiate, like, where I’m going to use, like a couple 1000 shares and like, go way bigger, but like, how do you do that as long?

Harry 25:56
If I’m adding? So this is, uh, that that’s actually a very good question. So for me, I’ve always kind of said to myself, a lot of the time, it’s based on time a day. So the market, I’m gonna take the last sighs because I know what’s kind of going on, when the market opens, I might take a bit more. And the reason why is because we can get that initial push higher, that really starts the day off, right? We haven’t gotten it usually, like in the in the past couple of months. So for the past couple of months, like I’ve definitely size down at the market open 100% size down market open zombie times, I’ll start sizing up again. Mid day, if we’re doing very, very, very good volume, I’ll keep that size and I’ll maintain it. Otherwise, you know, I’ll kind of leave alone the midday chop and then end today. That’s when I’ll look to maybe size up a little bit again. But my size has really been about time time of day, you know,

James 27:03
Do you have a 30%? Like do Long’s use a 30%? Or like any sort of style like that?

Harry 27:08
Um, it’s going to depend like, if we’re under VWAP, and I’m not that confident, then yeah, I’m gonna size down my, my trades have always been about kind of the confidence, I think high a day, you need to use less size. And if you are trading underneath V whap, you need to use probably lesser size as well, unless we’re like just underneath V whap. In the middle of the range, that’s when I don’t have that kind of problem. Because like, Yeah, I’m just gonna keep adding a little bit all the way up until like, you want to as long the key really is, is that you want to kind of you want to slightly time it. So I’m just going to start giving away shit because like, you know, why not, you want to slightly time it. So like you kind of have that excitement. And you move down into that kind of like desperation but you don’t want to long that type of, you know, desperation, you want to kind of see it, grind higher, and maybe start stopping some shorts out. And that’s where you want to start kind of at starting along position. And then as we kind of move a bit higher and we kind of maybe stagger we want to keep adding there. And then once we get that excitement and you feel it on tape where you know it speeds up you can feel in your bones you know where we’re getting those green prints going through everyone is excited everyone is just saying hot chick hot chick Check amazing boo boo boo. That’s where I’m starting to sell

James 28:41
I like that I like that a lot I feel like I feel like that’s a really in depth way to to add because you’re saying like you’re almost adding in shorts pain like You’re like you’re adding in the people who refuse to cover Yeah, and like the shorts were just adding a little bit here adding a little bit here adding a little bit here and by the time it goes parabolic now you’re adding as a as a long into the times when like shorts are buying with you so yeah, not only are people buying it shorts are stopping out buying the stock up. Yeah, and then you are going to be the first one to get out to bedtime because by the time they’re just figuring out what the fuck happened. You’re already gone and you’re like I’m down.

Harry 29:16
100% And people are like oh you’re in and out so quick. Are you is this so quick but bro like I’m just taking my money and running. I don’t have any of these thoughts.

James 29:29
Yeah, I that’s true because for you, you’re probably one of the most strict like with risks that I’ve seen in long biassed trades like I don’t I’ve only seen you take in like three years like one decent loss and that was the fucking the news one that was fun that was that was fun but wait but whatever that was again three years that’s nothing and also like on your day to day if I see you take a loss it’s usually like 10 cents like even on like a higher price stock so like that.

Harry 29:57
Oh right. I got stopped like I’m stopped guys hi.

James 30:01
Yeah. How did you do it? Like, why are you so tight on your like stops? Like, have you ever considered being more smaller? But like scaling or like did how did you come to be that someone who just gets in at their size they want kind of, and then like, keep your wrist so tight and like how long did it take you to kind of develop that.

Harry 30:18
Um, for that type of shit? Well, we’ll see the thing is, is that I always wanted to know that I wanted to maintain a tight wrist because I’m a stubborn person. Yeah, I’m really stubborn. And so if I don’t have a hard stop, and I’m not, I’m not gonna want to get out of that type of position. You know, I’m so fucking stubborn. Like, yeah, I’m such a piece of shit where it’s like, stubborn guy, right? And so for me, I guess like, I don’t know, like, I just I just really said like, this is all I’m risking, and like, you better get a good entry, because this is it. So yeah, I’m either right right away, or I’m not right at all. And, you know, a lot of people are like, wow, you only got stopped out for 10 cents, but it’s like, no, my plan is to get stopped out for 1020 30 cents like that as all I’m willing to risk. And so I like, I’m very disappointed in myself the right way, you know?

James 31:23
Yeah. Well, I mean, it’s cool. Because like, dude, how many long biassed traders do we talk about that? We see like, they’ll be long some $3. Then they add it to 80. Then they add 2.60 and 2.20 and two, and then there’s

Harry 31:35
Like the shit going the wrong way brother.

James 31:38
Doing the right thing like, and it’s like for you, it’s like I think that every long biassed trader in the room would benefit from keeping that kind of tight risk, like getting into your spot waiting for your perfect entry and then keeping that tight risk. I feel like you’re one of the only guys I see do that. Whereas like again, the losing long bias traders are the ones that are like, if you find unless it was your plan from the start, because you can trade whoever you want but unless your plan from the start was like I’m gonna launch them at three and then summit to you’re fucked. You’re fun. Like if you find yourself starting to like scale down. It’s like fuck happen.

Harry 32:12
That the shorts are just gonna keep adding with you. Yeah, right. Like never gonna balance you need you need situations where people are short, and they’re caught off guard by that move. Were there yeah, definitely short. Right? You need confidence shorts. I loved CI today. I didn’t take it but you I know how confident you are and outs were? Yeah. And that was okay for me. Because like I had such a low average. I knew you guys were adding higher. Like, that’s, that’s it’s good for both of us. And that type. Yeah. And I understood the amount of supply I understood the amount of you know, whatever. I was not looking for a big move on that at all. Or Fuck, I’m such a retarded didn’t even fucking trade that, but I’m talking as if I would have fucking dreaded it. But yeah. You know? You know, I was I was watching it. Like, I watched it for a long time. And I was like, okay, where would I get in? Where would I get out? And I was like, okay, like, three? 3.60 I’m out. I’m out. I’m out. And then yeah, yeah, because I did the initial type of move.

James 33:23
Yeah, I think I think so many Long’s in the room. Like they long like, broken fucking charts, which I never understand. Like, like, I don’t see you long a broken chart very often, like you say, like, it’s got to prove itself. Like if a broken stock proves that. It’s like, it has potential to go higher. It’s different. But like, I see most people trying to long like these like, like, See, I technically like, yeah, it has opportunity to but it’s like, I feel like as a long that’s not where you’re now going full size and you’re like, alright, this is gonna gonna be the big mover. Like, it’s just there’s so many factors against you. And it’s like, again, that comes down to stock selection. Like how many times we talk about like, if you’re picking the wrong stocks to trade. That’s 90% of why you can’t fucking trade because you’re just you’re trying everything on the wrong stock. You’re doing the right stuff on the wrong stock. Yeah, so I mean, it’s your it’s your biggest advice I hear all the time. It’s Alex is the same shit. It’s just you need to you need to find the right shit. Like, it takes a while dude, like it took me a while to figure out what I was good at. Like, I mean, it’s part of it. Like I think it’s it’s part of this, but I don’t know, but I mean, I guess we do have like a bunch of questions that you kind of get into.

Harry 34:30
Say one thing is that yeah, but the thing is with logging is that you need high volume tickers. Right, you know, you need a high volume ticker like CEI even though I didn’t trade it I literally wanted to trade that stock so bad I was watching it today. I watched it kind of get over the high and I was like shit I didn’t get in. I didn’t get in. Oh, well, you know, and that’s why I was like kind of talking like I was in it. Because to me like I was in that trade like even though I didn’t have any like my Any like in it or anything, like, when I watch tickers, and I watch price action, and I watch stuff, I’m literally like, I literally like deeply pretend that a minute. And so you know if I’m in that type of situation like CEI, I’m like, Where would I sell? Where would I sell? Where would I sell? You know, and I’m literally just gonna keep doing it. And for any advice of anyone, you know, if you want to, like what is going to be outs is number one thing, when he says, Watch price action is going to be get some skin in the game, right? And so I always pretend like I have some type of skin in the game. So I’m watching CEI, and like, I got, you know, 5000 shares long from here, like, where am I going to sell? Where am I going to sell? That is the best practice that you can get? Because you feel like you have skin in the game. And even if you don’t, you know, you still feel like you do. And that’s why I said like, oh, yeah, I’m looking to sell 360 Like, I really was looking to sell 3.60. And if I had have gotten, you know, shares long down there, I definitely would have. But I think for a lot of long traders, the issue is that they want to long stocks before things have gotten, you know, going, right. They want to get in trades, you know, before people have gotten in them before everyone’s found out about them before, but they just want to get into goddamn early. And that’s a problem. You know, want to get into goddamn early.

James 36:31
I have a random question that just popped in my head, actually. And I don’t know why. But I want to ask you this for a while now. And I completely forgot. So how will the you know? So me, damn, you’re 22 Jesus, fuck. So how was someone like I know recently, and I won’t get into it because it’s private. But like, I know, you talked about like stresses outside of the market, like shit that goes on. And like I’ve told you about shit that goes on inside of my life and like stuff like that. How do you? How do you deal with that stress when it comes to trading? Because if we know trading is so so mental, and like so emotional, and like, how do you how do you deal with shit like that, like outside of the market? And like, does it affect your trading inside? And like, what do you do to kind of balance that out?

Harry 37:14
Oh, well, my mom’s a counsellor. So when I’m home, I have like my own windy roads. That’s cool.

James 37:22
Not as hot as when the roads bad has been.

Harry 37:28
Someone’s gonna clip this shit. Um, you know, I have my own kind of like, mother to kind of like help me or if I ever needed like to call my mom like I will. Because like, it’s interesting. Yeah, she can literally like talk me out of some, like situations where like, you know, maybe there was a situation where there’s a family issue or something like that. And that has helped me so fucking much. I think another thing is, like, if I ever feel myself on the verge of getting on a tilt, and believe me, you can feel it. Like, people are like, Oh, I couldn’t feel that coming on. You know, if you’ve watched, you know, a tonne of stops go without you. You know, if you’ve watched, you know, and you’ve missed, like, it’s better off just to leave. And that’s some something for someone who has money. But also you should pretend that you have money. You know, you should pretend that you don’t need to trade today, you should pretend that you don’t need you know anything. Because that is what kind of helps me I speak from the point of someone who has, you know, done very well. But also, you know, you should you know, pretend that you’re like me, what would I fucking do? I’d fucking leave. You know, there’s times where you just see me leave randomly and people like, Oh, why do you leave? Why’d you leave? Because I watched three stocks go up without me. And I know what happens on the backside. You know, I can I can, you know, go to Starbucks for five $6 coffee and avoid, you know, two, three grand or four grand worth of losses, you know? Yeah. So well.

James 39:06
That’s cool. That’s cool. I don’t know why but I’ve always thought about that question, but I guess there’s never been a good time to ask but yeah, so so let’s get through some of these. So this one is like a short biassed question I guess he’s like, do you scale into lines or starting alliances no jackpots have short. Jackpot. Jackpot bones is actually I want to read but so just go back and check that out. For me, like, I know, he doesn’t really scale like into positions, not much, like if smallest fall but I know for me, like, I don’t really scale. Like my scaling is almost just a method of carrying FOMO. So like, if I have like a $4 line and it’s at like 350 like I might short like let’s say I have like 5000 shares located forward or something like that. I might short like 250 shares into pops like like 575 80 Like whatever like around there because Like To be honest, like, and maybe this is like a weird way to think of it, like, I don’t care if I’m down like 100 or $200, like on the front side, because it’s just like, that’s nothing and it’s just enough to make me like, kind of have skin in the game like Harry was talking about and focus. And then the second it gets to my line and gives me that kind of confirmation. Like, that’s kind of where I’m gonna, that’s where I’m just gonna hit my size. Like, I’m not, I don’t have a fantasy order waiting there. Like, if it gets there, it does what I wanted to, I’m just gonna, like, take hit the bed and like, get in. So as far as scaling, like, that’s kind of how that’s kind of how I do it.

Harry 40:31
Yeah, I mean, for me, it’s going to be like, it, there’s really going to vie for longing and like, maybe, like bow has a different kind of approach to me, because I’ve watched him trade, you know, for so long, like, he will scale multiple lines long and he will scale multiple lines, like exiting, but for me, it’s been like, there’s one area that I want, if the area doesn’t work out quick. The area doesn’t work. You know, I mean, that’s, that’s it?

James 41:03
Um, do you Harry, do you strictly trade according to your bias or cap size? Or do you dabble in other areas, swing trades, large caps, etc? And just don’t talk about it? And as your account grows, have you started investing in other areas? If so, which ones?

Harry 41:21
I mean, for me, like, I have had swing trades in the past, but like, I’m not really a big swing trade guy. You know, I’m always going to be invested in the stock market as a whole. Like, that’s something that I’ll always preach on. Like all buy dips, I will invest long term, you know, but I’m not. I don’t think that deserves to be in like the large cap trading channel. Like, oh, I’m making this investment and I’m holding it for, you know, a long time. Like, I don’t know, like, so. I mean, I do that. You know, I buy dips, obviously. Yeah, because who the fuck wouldn’t? And, you know, I mean, that’s, that’s really it. You know, I’m not really a swing trader, I just trade you know, I have my own money. I just, you know, chill.

James 42:13
I, I really only trade my like niche, like, I mean, outside of the mark, like, like, when it comes to day trading, like, I’m only fucking trading, like what we talked about in the room, because I’ve been the guy before, who’s traded multiple different things or tried to and like, honestly, like, most of the time, that should doesn’t work. It’s like really hard for traders to go back and forth. Because when you’re trading between like large caps and small caps, like, not only is your size, so different price action is different to me, like, everything’s different, and you’re just fighting different people. So I don’t do that. As far as outside of the market. I actually got some really good advice from Alex. And then something I’ve been doing since I was young is I’ve always invested in I do the Warren Buffett method, the low cost index funds. So I invest in stuff like blue and like, I’ve been like buying that since was trading at like 100 something bucks and like now it’s sitting at like, 400. So it’s like, that’s all I do. Like I wait for dips and like I you know, I get in and I contribute most of like a large portion of my paycheck actions by retirement. And then I just buy these things and it’s like, it’s kind of amazing to see how much it’s gone up. And same with crypto like I leave it actually, for a long time now I’ve been like I buy Ethereum and Bitcoin that’s it. I don’t buy any of the shit coins, like fuck that dumb shit. But I just buy a little bit of Etherium and Bitcoin and I use a small portion of money that I don’t give a shit if it goes to zero. And that way, like I can kind of continuously do that and like not stress it. And that’s kind of been like what my focus is actually the last couple of years. You want to find a good question in that.

Harry 43:44
I’m just looking around like people asking, like what do you do for drinking? Like, you know, like not really a lot of

The best thing you can do for your trading career

James 43:55
Let’s see, guys people are people are asking about like spiesand MIC and like spies on the rooms like that. I’m telling you, the best thing you can do for your trading career is like stop caring about shit like that like dumb shit in like the trading community like Twitter is a great place and like I’ve met some really good friends and like it’s amazing, but like stop giving a shit about all that stupid like dumb dramas and stuff.

Harry 44:19
No one no one gives a fuck about that. Like if you make money don’t care about that shit. Question for the podcast. When you wake up still drunk how drunk you know are you where you decide not to trade?

James 44:35
It’s actually not a bad question for me.

Harry 44:37
That’s a pretty good question. I got to be pretty knocked the fuck out like James knows I need to be printing. The thing is is that when you’re when you’re successful, and quote unquote successful or quote unquote good at something like I don’t brag like you know, I’m fucking you know, not like that. But I got to know you got a feeling where you know, like, alright, buddy, it’s not happening today, you know? So I literally I’ll get my brain like my brain will be like, can we salvage this day? Because anytime I go out I’m like, I automatically assume that the next day I cannot work I cannot do anything. That’s it. So my brain will be like, can we salvage this day? If my brain is like yeah, then I’m like, alright, we can salvage it. Go to Starbucks, get a fat coffee, you know, drink a lot of water, get some ibuprofen, get some medication to me, you know, that’s what my kind of processes on it. But you know, if I’m just too out of it, like I know, like, there was an election in Canada and you know, pretty pretty pretty knocked after that one.

James 45:54
I feel like that’s like, it is a funny question. But it’s also like really, really true because a good question because it’s like, the fact is, like, as you get more experienced, like, sure, like you can also you can trade like fucking drunk, you can trade like high you can do whatever you want. I don’t like to do any of that shit. Because I just find like trading for me. Like, I need to be in the perfect mindset. And if I’m not at all I’m distracted. Like, those are my days where I usually take a red day. Like, especially like if I’m fucking hungover. Like, I feel like garbage like, which I tried to stop doing I try to not really drink on the weekdays. But if I do, it’s like, I just have gone alright. Yeah, good. Yeah, go good.

Harry 46:36
He’s like, I’ll go do a live contest. See who can do more shots now which moderators? Better bromance aloha and area or Tom and James like, I thought I felt gonna hate Tom. So yeah, do a podcast where you eat edibles.

James 46:53
What are these questions like?

Harry 46:55
Oh come on, like ask me some real fucking shit. What do you make notes do you look for they tell you you can cut a position earlier than you planned for me it’s going to be a stuff James you want to set a position earlier than you planned? It’s going to be a probably a green candle like massive teleport or some I don’t know.

James 47:18
For me it’s like either a time stop like things just like don’t really feel like Right? Yeah, or Yeah, like a massive candle through my fucking line.

Harry 47:28
Time stop.

James 47:31
Austin taught me oh god I remember when Austin was teaching preaching about that. And I was like, dude, these are fucking awesome. Like timestamps are one of the biggest difference makers in my trading because like now I you just you aren’t getting caught in those like dumb fucking how.

Harry 47:42
Like this is this is actually do someone how do you determine taking liquidity versus adding for me if I’m going to add liquidity, it’s going to be like more of like a plan type of thing. If I’m going to take liquidity, it’s going to be more of like, unplanned but I know that I’m going to make money right away.

James 48:02
Yep. Yep, I generally don’t add liquidity. To be honest. I’m pretty much always like hitting the bid to get in. I don’t know it’s, I only add the Quiddity if I need to like set fantasy orders to like prevent myself from doing something dumb, but most of the time I’m just like, I’m fine waiting for my spot. I’ll just hit the button when it gets there.

Harry 48:21
What patterns have you found worked in the last year 2020 compared to now for me, I found a lot of things in 2020 would run at the open now we’re seeing a lot of things kind of fading off the open and picking back up in the afternoon jams.

James 48:37
I think I think 2020 is a short there was like all of these like I would say there’s a lot of like pre market like stocks that would like gap up and then like kind of tanked towards the open and pre market trading seemed a lot easier even with all the volume and like there was much more range premarket and now it’s like now like I feel like you have to wait all pre market to like get a safe short. And I just think it makes more sense and like something I want to say even before you read the next question like guys like when you have opportunity to ask like mods and like other traders questions like don’t waste it. I’m not saying these questions are dumb, but don’t waste it asking dumb questions either. Like Bauer said this recently like parent I want to talk about like being a mom like what that fucking what you deal with on a daily daily basis. Like, guys, if you are a musician, and you get the chance to talk to fucking Jimi Hendrix or someone like some great musician, you’re not gonna waste your fucking time ask him dumb questions like, like stuff that you could figure out on your own stuff that you can really realise and like but these are the times like especially when you’re talking to Alex about everybody like as deep meaningful questions about trading that only experienced traders know stuff other stuff like forget that shit like it really you got to find this stuff on your own and like to like really put the work in.

Harry 49:54
Like what edible you take or what drinking you drank is not going to make you a better trader.

James 49:59
You can do The me that and I’ll tell you but, but no, I mean, we’re I didn’t realise that we’re coming up on like a fucking hour.

Harry 50:05
No I know I know. shocking thing How should a trader trains or trading once they cross PDT you shouldn’t agreed? In addition, that’s the last question so

James 50:20
Perfect. I again guys like a lot of these questions like they come with experience as well like you’ll get them over time. But the reality is like, take advantage of like being MMIC right now is going into a transitionary period where like, I was just talking to Alex that we’re becoming seriously the Harvard of trading and there’s no more monthly memberships. It’s all fucking either annual or Platinum. So it’s people that actually give a shit to do this. You’re paying good money to invest in your life. Don’t fucking wasted like, come here, put in the work, and you’re gonna get something out of it. And if you’re coming here and you’re just fucking around, like the reality is like it’s your it’s just gonna be really hard for you to make it in this but if you come in, you want to be surrounded by like minded people. Like you’re gonna find success and you’re like a fuckload of money. Like

Harry 51:09
I definitely agree. I definitely agree just on all that like there’s so many people who have came in to monthly who unfortunately bauen Alex have had to deal with like trolls and like all this shit. And it’s just crazy. And the thing is, is that bouts are so nice so like we’ll refund you to leave like what I would never I would have never heard anything like that like I literally see bow he’s like now you know you don’t have the right mindset for this like you will we’ll pay for you to like that’s insane anyway, we’re coming up on them or but yeah,

James 51:49
I’m fucking wiped dude. That was a good one. But definitely yeah,

Harry 51:54
Definitely get mad talking about things and yeah, we’ll see you guys next time. Yeah.



About the Author
119 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.