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

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James 0:12
What’s going on guys, welcome back to another episode of the after hours Podcast. Today we have a special guest, Trevor. He’s one of the members at MIC. And I’m glad to have him on. I’ve talked to him a bit throughout the time he’s been here. So thank you for coming on, man.

Trevor 0:27
Yeah, of course, bro. Thanks for having me. Of course, of course. So kind.

James 0:30
Of going to start it off with the usual way. How did you get into trading? And then how did you kind of find MIC from there?

Trevor 0:38
Sure. So my trading journey has been kind of crazy. I started when I was way younger. My parents got into forex trading a long time ago. Yeah, so we met it was kind of funny. We met this guy that was supposed to be this like God tear trader and he was always flashing like safewatch Is he lived close to us. So we went to his house a couple of times, he had like a fleet of cars like Jacobs and company watches and like all this crazy stuff. So he kind of like, I mean, I was like 1816 Somewhere in there at the time. So I was obviously hooked. And I tried Forex for a long time and tried to follow him but his style was like never cut a loser ever. And basically, there was the before the FIFO rule or whatever, you can just infinitely scale and it never like you would basically every single time you add it to a position it would treat it as a different trade. So you can cut a losing position but also take a winner on the same trade is really weird. So long story short, I thought he was legit and he ended up killing himself. And FBI was no way stalking him. Yeah, that’s crazy. Crazy. So hopefully share so like it really shook me but like I had the trading bug. I was like, I want this. I gotta figure this out. You don’t I mean it’s like the idea of trading from home and I loved the market so I didn’t really know what I was doing but I just love the market so I tried Forex for like another year and just never found success just kept spinning my wheels and then I saw bow on Twitter and Alex and sort of following like basically all the guys on Twitter. Yeah. And I was just like Dude, why am I trading Forex when I don’t know one single guy that’s making money doing it. Like the only people that are doing it is like some random guy on YouTube with a Lamborghini and I just I wasn’t stupid enough to fall for that kind of I don’t know. So I basically when bow started MIC I was like one of the I don’t know one of the first members I think and and joined up and have kind of had an up and down Road in there tried large caps for a while just trying to find my place. Yeah, I tried longing tried large caps then I got over PDT when I sold my house and luckily was able to go to cobra. And I’ve been focused on shorts for like, about a year. Right now.

James 3:21
You had kind of the journey a lot of people have where it’s just like, it’s it’s rough, kind of finding your niche, but like, you know, it’s tough. I mean, we’ve talked about this, right? It’s like, it’s like, you almost have to try everything a little bit. And like people ask me all the time like how do you know what you what you’re gonna do like Harry hygena you’re going along how do you know this? Because Harry was started out shorting and you’re really good at it. You know, but it’s like you try everything right? It’s like, you kind of know like, in your stomach what? what works and what feels good. Like, Harry, how did you even find out that long was it? We’ve talked a little bit but What gave you that Inkling?

How He Got Into Shorting

Harry 3:53
Um, yeah, so for me, I mean, I, initially I, like I’ve talked about this before, like, I started trading like OTC stocks, like really, really penny stocks, like sub penny stocks. And I grew a little account like through that. And then I got into shorting. And just because I saw everyone on Twitter was shorting so it’s like, of course, if everyone’s making money shorting on Twitter, like I think most people usually start longing but I kind of had that Twitter introduction where Yeah, I saw that people were just killing it, shorting so I was like, Alright, I’m gonna start shorting and then like, fuck this long ship. And so I guess I was kind of in a market cycle where when I was newer, it was a lot easier like there were no 100 like million vault. million volume days there were no crazy ass like squeezes there were but like, as long as you didn’t trade a low float, like you’re pretty pretty much golden like just due to the amount of volume that was traded like you’d get a ton of faders on the stocks that are even like 2030 Male floats just due to the fact that there’s not that much volume in the market. So I used to do the all day faders like all the time, like Brian Lee, he spoke at traders for a cause, like I was in a discord group with like him and bear. And like, we were all just absolutely killing it on the faders. But then, as the volume started to come in, like I really kind of, like noticed the opportunity for Long’s and I wasn’t necessarily getting squeezed on my shorts, because like, I’d always stick to like either low hanging fruit or just kind of broken stocks. And I’d usually start in either pre market or after the open, and then they would just kind of fade and like, as far as like the losses go, like I would cut after like 1020 cents every time. And my risk reward was always so good. But I noticed that there was an opportunity for going long. But it was just I found that. Like, I knew it was gonna take some work, because I knew that I was going to have to probably like reinvent the wheel a little bit because like, there’s not that many profitable people longing right now like there’s like maybe like Roland wolf and a couple other guys. But I mean, there’s not a tonne of people who are killing it on the long side. So I started with first bounce that bow taught me. And then I kind of expanded my playbook from there. And I was also shorting as well, just to kind of keep that money, like kind of coming in until I could get like consistent as long. And then as I started getting more and more consistent, and once you nail like a big homerun long, you’re like, Fuck, I love this, like this. You know, like, the last one that I got was like, BF Ri and I bought it like $4 and sold it like 6.50 Like it was absolute and you’re just like fun. And that’s I’m like fucking This is why you’re like, I’m going to the fucking day like you load the boat on something like that. You’re like, I’m done for the day. But it’s been like, it is addicting. And like, I love it. Like I you know, like, I love longing. And, you know, there it like it’s been a bit slower for me, I’d say like the past like week and a half. But like, you know, when it’s slow for me, I know it’s slow for everyone. Because like, if stocks aren’t going up, and stocks aren’t moving well then like as a short seller, like it is going to be a bit slower for you as well. Because, you know, so when things are, for me, it’s really slow for everyone, you know.

James 7:22
You know, like, say Trev it took you like a few years to kind of find your, like comfort, right? Like it took you like find exactly what you wanted, because I remember we talked about you want it you didn’t try low low, like small caps. The twos like all that. What do you think it was that kept you from finding like what it was that you wanted to focus on? Like, were you venturing too far outside of something once you found comfort in it? Were you trying to do too much? sighs like, Was there something that was preventing you from finding your niche?

Trading Low Hanging Fruit

Trevor 7:50
Um, to be honest, just being an idiot, and not the kind of where I found my seriously like, I was just trying too much stuff. Like, I would have a couple of good days. And I’m like, This is it, you know what I mean? And then I’d have like Harry said, I would have a good long and I’m like I’m along. But then the market would kind of shift a little bit and then I’m like, then I have no trades. I’m like, Okay, fuck it. Now I’m gonna short I just switched a lot. And it kind of came to the point where I was just pissed off and I was like, Dude, I gotta figure this out. So I just like why am I not just 100% following Bao,, Alex, James, all those guys and all the mods and yet, Tom, you know what I mean? And I just kind of sat myself down and said, No, you’re gonna focus 100% on what they’re doing. And so I kind of just started with low hangers, because everyone has always said, low hangers are the easiest and best way to learn. Right? Yeah, right now I just trade I only trade low hangers or like super broken day ones. Yeah, I like that. Yeah, I avoid everything else.

Harry 8:52
I think that’s kind of a good situation. Because like there’s a ton of people in MIC that I just don’t like understand why they’re not why they’re not following like the mods Alex like, I just don’t get it because like, you have Alex who’s like literally posting his plan every morning. Who’s making like, millions a year and and people are still like, Oh, what about this stuff like someone wrote the other day like and like no offence to them. They’re like looking for first red day on Pfizer. It’s like bro, like a legit company and they’re also giving millions of people vaccines right now like you don’t want to be putting that at the height of the fucking pandemic you know? Like things like that where it’s like no bro go to the watch list see what Alex has laid out see what thou has laid out for me like even for me longing as well? Like if there’s a good first bounce all right in chat like oh, good first bounce here if there’s a good play here, you know All right. Oh, good player potential play here. You know, like, no one is like holding anything back. But I would still see like long traders who don’t watch the videos who would like long broken stocks and they would do it every single day. And I’d be like, bro, you’re longing a broken stock, like, you know, like, this is what you need to be fucking shorting. And then they see hot chick that’s going up, up, up, up, up, and they’re like, Oh, it’s too high, it’s too high. It’s too high. It’s like, No, bro, buy high and sell fucking higher. Do not be trying to get these discount stocks on clearance as long you know, it’s really about you just watch the videos and do what people fucking say in the videos, you know?

How Alex’s Watchlist Helps Him

Trevor 10:27
We’ll do like, I think, for me, like, when I started following Alex’s watch list, I first I was honestly intimidated by it, because I’d see. Because obviously, like he’s a god, your trader, he’s amazing, you know, you look at his p&l and your holy smoke, you know, obviously, everyone’s gonna be there. But I would look at as the watch list and I would see like, I’m scaling 5 6 7 or something, or 15 16 17. Or I’m like, Damn, I can’t do that. You know what I mean? Because I just didn’t understand the concept of scaling small on the front side and then kept getting bigger on the backside. It just, it took me a while to kind of get that concept. And now like, I pretty much I tried to make my own watchlist before his you know what I mean? But I, his his watchlist, Trump’s mind, basically. So I make my plan. And then whatever his is, I’m like, Okay, well, he’s avoiding that stock. What am I doing?

Be Your Own Fishermen

James 11:19
What you’re supposed to do, you’re supposed to like meet like, Be your own fishermen, right? Like, I actually just cut someone’s hair the other day is a friend of mine who works at a hedge fund. And they basically make a watch Sunday morning, they have a meeting every morning, they talk about their plan. And all the senior traders make their plans and all the junior traders kind of like make their ideas. And of course, you’re gonna use the senior traders like to better yourself. Like that’s how you learn. Like I think people get like intimidated by like, thinking that they’re taking someone’s idea like, like, if Alex or like Harry or someone posts a watch, so Tom, it’s like people, for some reason feel like, Oh, but I didn’t come up with the idea. So it’s not a good one. Like, that’s not true. Like, eventually you will come up with those ideas yourself. But like, how would you know to do that if you didn’t learn from someone better than you? You know. So it’s like, I feel like you’re impeding your own progress by not listening to the guys who are more senior than you like I do it all the time. Like, if I see booking Harry, or Alex or anyone who’s been trading longer than me talk about something, I go, okay. Like, I think I’m a smart guy, but like, I should listen to them and see what they’re seeing. And most of the time in trading, it’s like, they’re right, like, Guys, we’ve seen this before. It’s just like the same thing when Alex is I’m avoiding this stock. Sometimes I’m like, why is he avoiding the stock, and you look into it, it’s a low flow, it’s so hard to see. But there’s a million little red flags, and it’s like going to squeezes the high heavens. And you’re like, okay, like, now I’m learning. So now the next time that comes up, I’m gonna have the same reaction. So then you’re going to kind of pass the torch down and teach the rest. But I guess, I guess for you like, where you’re at now? What is what is something that’s kind of hindering your trading journey? Like, I know, we just we had a really long call the other day, but like, what is something for you that is, like you’re trying to work on you’re trying to get better at and what are you doing to improve on it?

Trevor 13:00
So I my biggest, so I’ve, in the last like four, three to four months, I’ve been super consistent. So I’m winning. I’m winning. Like I’m a consistent trader over the last you know, since I basically started only what are low hanging fruit in stocks, and obviously, there’s little, you know, growth period in there but so right now I’m trying to try to size up slowly. And with that, I’m kind of realising, you know, it’s easier to be profitable with small size and then as you grow, like learning to get more size and when I say more size for me, it’s, you know, I’m trying to get like 1000 chairs, it’d be pretty heavy. Yeah, so, but like I’m kind of realising, okay, I need to go a little bit smaller on the front side, like I’ve always felt like you have that first bullet, it’s got to be like double you know, that’s in like, you got to put as much size like, not as much size but I gotta put a lot of my size on that and then it gets squeezed. And I’m from watching everyone else kind of realising that like I need to start smaller on the front I mean every obviously everyone says it but smaller a little bit smaller bullets and then wait for the top to set and then kind of try to load in subsides when you have a small stop and then my risk reward lately has been huge Can I track everything on trader view?

How to Cut Your Losses

Trevor 14:18
And I was noticing like my winning days were 50 to 100 bucks but when I lose I lose like 200 bucks and so it was you know to have a couple good days and then shit on couple good days shit on and I was like Dude, I gotta cut those out. So I kind of realised the sizing thing was my big issue and then how I kind of decided to work on is what we talked about the other day I’ve I’ve been religiously recording my screens and then I’ve just taking everyone’s shirts that post them except bow bow just because he’s so it’s hard to run it and yeah, I know I can’t be on bows level right now. So, you know, I mean, so I watch Alex charts, your charts. And basically, I’ll put them up on my screen, and then I’ll just watch the tape, kind of watch the price action around it, and just try to figure out what’s happening. And I’ve been DMing Alex and kind of asked him, Hey, how much size did you put on this? And, like, how much did you cover here of your position district try to get understand kind of what he’s thinking and his thought process for, for putting a little bit more size on?

Harry 15:29
Yeah, I just, I just wanted to say kind of one thing is that, actually two things. Number one, I just like, I wanted to kind of talk about the watchlist, like real quick again. And like, I feel like when you’re in an environment, like MIC, like, it’s also like, kinda competitive a little bit, you know, like, you see someone get that feel like you want that Phil, you know, like, you see someone get this, you want that. And then when you look at the watch list, you kind of bought it boils down, and you’re like, Oh, well, I don’t want to be copying his plan. I want to be doing this myself, I want to be doing this myself. Because it is kind of a, you know, it is kind of a competitive environment when you’re trading, you know, like, it’s like playing sports or playing whatever. And like, you know, I guess when you have a tonne of shorts, you know, together, you are technically all on the same team. But like, you know, when you’re playing on a team, you always want to get the most goals or the most points. So the most That’s right. I mean, it’s just fucking human nature. I mean, for some people, it’s not, but I mean, at least for me, like, when I see a fucking long go up, and someone else catches it, like, uh, you know, I’m happy for them. But I’m like, fuck, I wish I got that song. You know, you know what I mean? So yeah, for sure. When you’re in that type of environment. I think for me, like, as far as the lossless goes, like, you should be thinking of it like that you’re in a team environment, right? As opposed to I’ve got 2300 other people that are, you know, you know, I don’t, you know, I don’t really know them, I don’t really know what’s going on. But like, I think like, if you focus on that as like a team environment where like, everyone is trying to get better, and like everyone’s trying to help themselves, it makes it a little bit easier to follow the watch list and be like, okay, Alex is here to help me, you know, and so when you have that kind of mindset, it’s a lot easier to be following the watch list is it’s like, okay, thank you, Alex, for the help. You know, now I’m kind of helping myself, I’m not following you, like, Thank you for the help, you know, and when you look at it as like that mindset, and like a team environment, like sometimes it can help, like, as far as like, looking at the last dose. And also, like, I think as far as like the whole like sizing and like getting better and stuff like that, I think it’s good that you that you recognise that because you know, when you’re kind of like loading more, more sighs like on the backside, like, that helps you so fucking much because it reduces your risk so much on the front side as short.

The Importance of Watching the Market

Harry 17:52
And I mean, you don’t really know how far I can go, right. I mean, you start in at six, and you start in with that big first bullet, because you’re, you know, I feel like when you’re a newer trader, you’re kind of like programmed like, one entry one exit, but you know, you now that you’re over PDT, and whatever, like you can fuck an instance infinitely scaled, for the most part. It’s like, you know, not first of all, it’s it’s x, well, I’m out a bit more, it’s seven out a bit more date, you know, when you’re using the same bullet like three times, and, you know, you end up with a shit average, and then the stock is going down, and then you’re like, barely getting paid on it. But when you’re kind of adding a little bit, you know, at six, a little bit at seven, a little bit at eight, and then you get this massive death candle, and then you add it all in on the pop, well, then you get a fucking great average. And that’s a great way to approach it. And just, I wanted to just mention one more thing, like, as far as like newer traders listening to this is that, and I talked about this yesterday is that like, if you’re not, like, if you’re if you’re a newer trader, and you know, you, let’s say you’re trading a broken stock, and you’re not adding into strength, I really don’t believe you’re putting yourself in a good place to grow. You know, if you’re always waiting for that, like confirmation candle, or you’re always waiting for that, whatever. And you’re not like adding a little bit into strength, I don’t think you’re putting yourself in a really good position to go. I’m not saying that a lot of shares, but like, just like you talked about where you’re like slowly kind of scaling and then you’re adding a lot on backside. Like, you get that, you know, learning and teaching moment from when you have skin in the game that you can’t really practice on the weekends. You know, like as far as you like when you know when you have like, let’s say like 100 or 200 shares in the stock. Like you’re watching the stock heart. You know, like even though you don’t have that much money in the game, you’re still getting that opportunity where you’re like watching the tape like super super closely. And like you’re you’re like putting your mind you know, in that situation where you do have money online and you are in that kind of like fight or flight situation where you’re you’re watching it closely, you’re watching it closely, because like even if it’s $1 On the stock, like, I’m gonna be fucking watching that shit hard, you know. And so I think that puts yourself in a really good position as far as your growth because you’re getting that experience, you’re watching how things are reacting levels, you’re watching that kind of order flow, you’re watching the tape, and you’re, you’re seeing how other people react in the chat. And you’re, you’re, you know, you’re seeing everything, the money flows, everything as it takes place, and you’re really, really hyper focused. Whereas you watch the tape back on like the weekend, you’re kind of scrolling through, like, Fuck it, you know? Okay, fast forward, fast forward, fast forward, you know what I mean? Right?

Trevor 20:32
Older stuff, I’m gonna back up.

Harry 20:34
Yeah, like fast forward, oh, I’m just going to manipulate this fucking tape how I want to see it, and then you walk away feeling like winner, but you don’t really have the kind of skin in the game and that kind of real time experience. So I think, you know, that is a perfect position to put yourself in a really, really good kind of growth spot. Because of, you know, just having that little bit of skin in the game, and then you’re loading the boat on the backside. So you’re taking advantage of that strength. And you’re taking advantage of that confirmation, which really trains your mind to, you know, trade, like a reflex or whatever, right?

Trevor 21:08
Yeah, I was watching a video of Alex and it’ll old IG live. Thanks, James, for the recommendation. I was I’ve been going through those. And he said something that would like really caught my attention. He said that he puts all his small fishing orders out. And basically he just kind of letting the stocks tell him which one to focus on. Yeah, like, when his little fishing orders hit, he’s like, Okay, now it’s time to pay attention to the stock, like, is this gonna be a stock to add more to? Or is I’m just gonna let it run a little bit as Yeah, I kind of liked that approach. Because if you’re staring at it super hard before you end up following in way too early, and I’ve done that plenty.

James 21:44
You know, many times, I’m like, like, my level, like, I’m looking at a chart right now. Like, my levels are like, let’s say 3 3.30 3.50. But like, it bounces to 3.25. And you’re like, we’re at 3.15 or something, and you’re like, Oh, well, let me get in a little bit. Whereas like, you know, if you just kind of like can pump the brakes and like, actually wait for your spots. And like, I feel like sometimes I like to put my mind and like a long biassed trader, because I feel like it’s a long, it’s way more, like, as a short, you can kind of scale a little bit a little bit, I feel like long is like the best entry. Like it’s the most patient entry, like Harry says, and like, that’s where you gonna get the best risk reward. So it’s the same idea on the short side is, the more patient you are, the better outcome you’re gonna have, the bigger p&l You’re gonna have, the more size, you’ll be able to get on and be able to do a lot more. And I think, a key lesson I’ve learned over time, and I know, we’ve talked with this truck, but like, you know, there are trades. And we before you enter a trade when I’m looking at a chart, I’m thinking to myself, like, is this a chart that if it gets to my best line? Is it a nail and bail trade? Am I trying to like, you know, am I hitting that one line, maybe sizing into that line, or even not maybe just getting my 30%, whatever. And then whatever happens it tanks, I’m covering oil, because the range isn’t there. If it’s a stock with a tonne of range, and you’re able to, you know, you can scale it a little bit, you can let it reject, then you can add size and like you still have plenty of space to like, add size responsibly without like just being so tight. And so like nervous. So I think a lot of people just try to size on everything like like, there’s a chart a couple of charts today, he starts rolling up like 20% 30%, those aren’t stocks that you’re gonna be able to, in my opinion, add size to, you’re gonna go for the nail and bail, it hits your best line awesome talks about being a line trader, your confirmation is the socket in your line, you know, I’m going to try to size into my best line if it gets there with my hard stop. And that’s it. You know, if a stock’s up 100%, then you can think to yourself, all right, when this finally rejects, now, I can think about the big picture move. And when I say big picture, I’m not saying hold all day long for a home run, you know, line the line, the bigger picture idea. And then you can add size. And I think that’s why like again, like kind of like everybody struggles with that idea. It’s like, I don’t know why people try to rush it. I mean, I do is they want to make more money, but it’s just you can’t rush that and you kind of have to identify the setups where you can do that.

Harry 23:54
Yeah, and I also want to just point something out is that, you know, I don’t know if you can do this on tasks or not, I forget, but if you can set like price alerts or something like that, that can you know, a lot as far as like not being at you’re not being at your desk, like when the market opens. Like I know a lot of people they have a lot of patience issues, like not waiting for their line. And some people like you just can’t change. Like, I know that like, like, some people have changed, but some people are like that.

James 24:26
Yeah, bao has FOMO right. He skills it and like that’s why he does it too.

Harry 24:30
Yeah. And so some people, you know, you’re not going to change so if if if you’re one of those people like I would kind of encourage you, like set a price alert and leave the fucking room at 930 when the market opens. And if you get that alert you fucking run back in but if you don’t get that alert, no fucking trade and just being No, but I mean, I’m serious because I know I know some guys who I agree with you. Let’s say let’s say, you know, it’s the hot chick and all of a sudden we get to stuff move. And so Oh, you know, they’re like, Well, what am I going to trade, right? And then they go, and they see a little broken stuff popping. And that’s where the fucking problems start for them. And though, you know, I guess they’ll long the broken stock, you know, get fuck there, then they’ll maybe go to I mean that I’ve seen this happen before like, and they’ll go to a low hanging fruit, and they’ll see that pop a little bit, and they’ll think, Oh, the low hanging fruit that’s good long. So things pop and also not a good idea. And then they’ll go to another shitty broken stock and long that again, and think, and they’ll leave their desk and go, Wow, I really fucked up. And then they’ll message me and say, Harry, look at what I did today. And I’ll say, bro, when was a low hanging fruit long ever since MIT started, right. But it’s not problem of, it’s not that they don’t know what they’re doing wrong. It is that, you know, they’re just not training yourself to be put in good habits, right. And so if it’s a year, and you still are having a hard time training yourself, you got to change it up. So that’s where the price alerts can help out a lot. Because on Thinkorswim, like, you can get an alert on your phone that says, hey, this is at this level now. And you can run back in your office and trade that shit. But if you, you know, if someone’s listening to this, like, not necessarily try, but like, you know, if you if you’ve got a problem, and that’s the, that’s the problem, then you can fix that with price alerts, get those alerts on your phone, and then you can put yourself almost back in your your office and you’re less stressed again, you know, like, it’s like, you take yourself out of the driver’s seat. And then you put yourself back in, and you’ve got a different mindset. And you’re like, wow, okay. Like, this is not my level, this is what I planned for before the open. This is what I’m kind of, you know, doing and kind of thinking about, and that can really put yourself in a good situation. Whereas if you’re just sitting at your computer or your monitor to trade, you know, that’s where I think you can get into trouble on definitely slow days, definitely On slow days.

Advice for Short-Biased Traders

James 27:05
I agree. I actually, I really liked that advice. Because I think especially as a short bias guy, it’s like, you know that we have such FOMO for some reason, like a stock pops and forget to eat anywhere close to your line. Like, you just get FOMO it’s instant, right? Like, what I think what makes Alex so good is that he’s patient for his lines. Like, that’s why he can use the size he does, because he’s getting the best possible entry. And it’s like, I think we all and I know like I’ve had this issue trip yet this issue is just, you just size too early, or you don’t know where to add size. And it’s like, you know, again, we recognise that the best place to size that the best line. So now just comes to like the inner battle between ourselves like, can we be more patient? And like, like Harry said, like, use tools to make you more patient for those levels? If that means you trade less, like, would you rather like nail and belt like trade small size and every ticker be a little early, like have small days? Or would you rather get to your best line, use it best size, and then you make enough money that you don’t have to book and trade for a year?

Harry 28:04
Yeah. And I think that also when following your plan becomes, you know, it becomes more than like it like when you’re on vacation and following your plan. Like is like the number one thing you’re focusing on every day. That’s where, you know, you can really kind of, that’s where the magic happens. Like when following your plan is more than the money. That’s when you can make a lot.

James 28:29
I like that. I like that a lot. And so, Trevor, I mean, before we wrap it up, you know, you have because you’ve been with MIC since the beginning. Do you have any sort of advice for newer guys coming in, or guys who are still maybe struggling to find their footing?

Trevor 28:46
Yeah, dude. Basically, the thing will you’re saying actually kind of ties into what you’re just saying. One of the things that helped me because I have been the idiot that jumps in early and just sits down, I feel like I have to be in a trade. We always think for me that helped. Well, one is watching all the videos. And then two is I screenshot. I mean, I have every trade of almost ever taken, I screenshot it and when I’m failing after a horrible week, and I’m like, Man, I got destroyed this week, I would go sit down and look at my, my all my screenshots. I kept them not just in like a journal, but I keep them all winners or losers. And then I keep them by play. Like what type of play it was, I keep them pretty well organised. And I look back at my trades, and it’s like, you look and you say, Damn, I basically it’s not that I’m a bad trader, I just did. Well, I’m a bad trader against right when I didn’t do what I was supposed to do. It’s not that the system’s broken, because that’s where we used to switch around was like, oh, man, longing sucks, but it’s like no, I was just doing a bad job of it. And yeah, I would notice kind of my patterns like Well, I’m slamming Lowe’s. It’s 20 cents off the line and I missed it. So now I’m slamming it and it pops up. I get stopped out. Duh, Trevor. Like You’re not trading bro. And honestly, dude that’s given me a lot of comfort and like those really shitty times where you’re just your accounts bleeding and you’re like, Man, am I ever gonna get this? I would look at my trades and say, Am I really doing everything they’re teaching? Or am I just doing my own thing? Yeah, idiot, and I look and I’d be like, well, I can’t quit if I’m not doing exactly what they’re saying, You know what I mean?

James 30:23
99.99% of the time. It is never the markets fault. It is never the markets fault that you’re losing or that you’re having a bad day. It is always yours, you will get that one. But I’ll give you the point. 1% If you get a black swan or like an offer, and when you’re long, you did what you’re supposed to and shit just goes crazy. I’ll give you that. But like everyone, like you’re saying, right? How can you quit this game? If you’re not doing what people are teaching you? If you’re gonna ignore that and lose, then this isn’t for you. You know, it’s like yeah, I agree. You should if you can’t stick to what the better people are telling you like, it’s like hairy young people. Like stop longing need to stop doing this stop logging, low broken VWAP everything, all this shit. And people are like, Oh, fucking do it again. I love that meme. It’s like, I’ll do the same thing. And you stop. It’s like, oh.

Trevor 31:17
my money meme.

James 31:18
Yeah, dude.

Harry 31:20
And also, I think on, you know, situations like that. Like, yes, like, if you’re long something and all of a sudden it gets halted like for an offering, like, you know, it’s what are you? What are you going to do? And ration right, like, I mean, that’s ever happened to me, I have gotten a stock that halted. I remember, like, it was my fault. Like, my biggest loss was my fault. It was like a year or whatever. And like, I left some open orders out, the stock tanked and got halted. And I guess there was a conference call going on and I didn’t realise and I guess the whole fucking team on the call. Like everyone said, Fuck it, I’m out.

Trevor 32:04
Worst long.

Harry 32:05
So so I’m stuck. I have like, open fantasy orders open. I’m like, Holy shit, holy shit, holy shit, takes like fucking four and a half, five hours to open up. And then, you know, after that it was a good one. It just tanked dollar from like, I believe, like five or something like that, like, absolute madness. And even then, like, that’s a situation where I was sloppy, overconfident. You know, not paying attention to what’s even going on with the ticker, right? Those are all my fault. And so, you know, I think that like, when you when you take a good hard look at it, like, all your losses are your fault, but it’s like how you control them. And I think for FOMO as well. Like have rules around your phone, you know, have rules around your, your shitty risk management or have rules around, you know, where you have been sucking in your training, you know, if you if you just, you know, go on trader view and you’re like, okay, not 90% of my losses are premarket. Well, then stop talking trading premarket. 90% of your losses are in the first 15 minutes of the day, well, obviously, you suck in the first 15 minutes of the day. So don’t trade that, you know, there’s such simple rules. Okay, like, let’s take a look at my charts on the weekend. And where are my losses coming from, you know, what mindset was I in? And what what, like, where did the FOMO come from? Okay, well, obviously, I’m losing on these types of situations. So I’m just going to cut that out. You know, like, for me, as a long trader, I noticed that those stocks that kind of Spike, and like give their initial range, and then like, kind of drop down and break high day again, like, I’m going to lose on that 90% of the time. You know, like the situation that Tom just posted on VlP ah, I mean, someone can look it up if they want, right, that type of chart where we kind of pop up and go back down. Let’s say that thing breaks 375 Again, like 90, like 99% That’s fucking stuffing, like, you know, and so once you kind of recognise that you can either go long before and sell into the stuff or you just don’t try it at all. And, you know, that right there yeah, Trump’s showing it you know, if you’re listening on Spotify.

James 34:22
Toms fucking chart dude, dude. I just I was just seeing him trade like the stock hasn’t even done anything yet. He’s already trading it. He is the biggest formal piece of shit. I hope he hears this. I can’t even stand it. Sometimes. It’s insane. I’ll be like, I’ll go to pick a person comes back and he’s like, short everything. I’m like, Oh my God, I need a better tab. But we do have to get ready for the open. I didn’t realise what time is. So Trev thank you for coming on. Man. I love this. Of course good talking to you. I think you’ve been awesome in the community and I look forward to seeing you!

Trevor 34:54
Thank you. Always good to talk to you guys.

James 34:57
Hell yeah, dude, anytime

 

About the Author
113 posts
James F.

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