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James 0:01
We are back with another Episode of the After Hours Podcast. Today we’re going to do something a little bit different. Usually we interview traders and we kind of ask them about their story and their emotional journey. But we wanted to switch it up and change it a little bit. We want to start doing more of mentoring sessions. And we sprinkle those in there and change things up. So today we have jackpot. Jones is Jack. Oh, Jackpot bones. Jeez, that’s what I’m saying. This is what I was thinking about us thinking something way different. But he’s been with us for a while. And MIC. He’s been a member for you said almost a year, right? Yep. Cool. So if you want to introduce yourself, give a little backstory and talk a little bit about your trading.
Mitch 0:39
Sure. So I’m Mitch, I’m from Montreal, not far from Harry 45. My story basically is I’ve been a serial entrepreneur my whole life. Before COVID I was in the online gaming business sports related and when sports got shut down, it just clobbered us. Right. So at that point, I was looking at doing something I’ve always had knowledge of the market as a long term investor, and I’ve done well had interest in day trading. Yep. So at that point, the first person I stumbled upon is one of those chat rooms. And I buy the course that’s like, you know, four grand or something like that. I study, I go through all the videos, I started paper trading. And I got my ass handed to me, within three months, I was down 20 to 30k. And it wasn’t just one big blow up. It was just constantly losing, there was no process, there was no risk management. And I said, I remember sitting at home once and just saying, I’m like stuff like this can’t be it. Like it can’t be who’s faster on the buttons, you know? It didn’t make sense. So I stumbled upon Alex’s interview at SMB. So I say the videos, man, yeah, great video. So I was checking that out. And then I got into you guys, and I stopped bow. And at that point, it was Nico. He was just leaving, I believe. So got me interested. And I’ve always been more of a short bias guy, because even in my real life, like if I go to the casino, if I play craps, I’m going to say the table, I’m going to play the Don’t Pass line. So that can work perfectly for me. So I joined in November 2020. And the rest is history. I mean, I can run through everything or you can ask me questions, whatever you want to do.
James 2:27
Yeah, I mean, I guess I guess in your when you joined. At that point, were you at like, the lowest part of your trading career? Like were you just really confused and like, really had no idea about any process or like setups? Or at that point? Had you started to at least gain an understanding?
Mitch 2:45
Yeah, no. So when I joined it was it was all brand new to me was a different world man. Like I didn’t even know about having a Locate to short. And at one point, I remember going back and forth between do I want a long do I want a short? Yeah. And I was I was questioning like, man, should I be spending money on locates before I even make a trade like that? This ain’t. And then I realized that’s the cost of doing business, right? Yeah. But the biggest problem for me was from like, November 2020, to about I would say March 2021. I had to unlearn all the shit. I learned in the chat room. Yep.
Harry 3:22
And that was a farmer, right? That was farmer.
Mitch 3:26
That was with farmer. It was a complete disaster. I remember one point as videos he’s like, I used to sit around just training my finger to click my hotkeys as fast as I can. I It’s like muscle memory says you gotta get that muscle memory. I’m like, This can’t be it then like, I don’t want to, I don’t want to trade like that. So I knew it was wrong. And I just I was out. And then you know, I met you guys. And just seeing all the mods and starting to learn the process. It really started coming together. But I listen, I’m a profitable trader. Now. I’m consistently profitable since June. It’s amazing. I’ve had maybe seven red days in the last two and a half to three months.
James 4:09
I love that.
Mitch 4:10
The problem that I was running into those, I had a few. And I still to this day, have my biggest issues right now is letting my winners run. Yep. Always, I still trade my p&l, which is something that I just have to it’s, it’s a mental block, I have to stop doing it. And before that, it was risk management. And I would have those weeks where, you know, I’d make you know, four or 500 a day, no problem. It was great. I go into the market, I can pull money out of the market. And then I have that one day I’m down 1000 1500 Then, you know, it just sets me back. So it’s like two steps forward, three steps back, and it took me a long time to figure that stuff out.
James 4:51
Yeah. So I mean, you’re saying you know, now that you’re consistently profitable, like and I will say it’s impressive because that takes that wasn’t that long. You know what I mean? Like that, that is pretty quick. And that’s amazing. I love to hear that. And I think that goes to show like The process works. And, you know, but for you, was there one piece that like kind of triggered it that to like go from like kind of being like a gambler to being consistently profitable? Was it one thing? Or was it like a couple different things that that kind of dominant that I think.
Mitch 5:21
It was a couple of different things like one one of the times was when one of my, you know, I think second to last blow ups blow ups that I lost, let’s say $1,000, what I was doing was because I’m on trade zero, they’re allowing you to move your max daily loss. So I always set my max daily loss at one day’s profit, you know, and I get into a trade and I’d be like, Oh, I can find my way out of this. And then it would balloon and I’d lose like shit. So I actually texted bow. And we had been talking a little bit here and there, he just been helping me for a few things. He just He ripped my ads, you just gave me shit. You’re not gonna make this happen if you keep doing stupid shit like that, like it’s on you. And I knew it. By hitting ripping me kind of set me straight a little bit with that. So my risk management is much better. It’s still a work in progress. Everything is always progress. But I’ll tell you, man, I, I wake up at 730. And I know you everyone’s heard this before I wake up at 730 I get my kids out the door to school. I’m watching the markets. I’m watching the main chat, I’m looking at what plays are available. I’m locating what I have to locate. I’m in front of my computer all day, even during zombie hours of the trade sets up for me perfect, I’m not going to chase anything. I’m here from 8am Till I usually stop at 3pm I get the kids come home, make dinner, and then I’ll watch the TV with my wife or whatever. And then I’m ripping through charts all night long watching videos on my lawn. And I get to sleep at one two in the morning. So I put the work in man, I watched every video multiple times, I’ll reach out to the mods I watch the webinars if I don’t, I’m watching on replay. I’m doing what I have to do to be successful. And that’s what just has to be done, man. It’s all it’s all screen time. Like, if you don’t have screen time, you there’s no chance you can make it. Go anywhere.
How to Make Money on a Trend Line
Harry 7:14
I just wanted to just say one thing is that I noticed that in the in the chat, like I see You talk a lot about like deadline, like five ADA deadline or 642 deadline. Because I think like for people who have like been here for a while, like, I mean, I’ve been in MIT for a while I know James has to like you kind of recognise the same type of people and kind of how they trade and like you’ve been kind of more of like a death line type of guy I believe or like, what type of setups you know, have you been kind of like being able to kind of make money on in this type of market. Because I mean, for logging and shorting it has not really been the easiest, right? Like, I mean, we’re seeing the big, like, have a massive tank candle and then rip from six to 11 we’re seeing, you know, PSTV today, just chopping around that can pick a direction. So what type of stuff have you been kind of, you know, you know, using to to kind of keep you consistent in your type of toolbox.
Mitch 8:15
So I’ll give you in my opinion, the one setup that I think is not good for new traders, I think is first resistance. Because you’re you’re going if you’re short, you’re going into it where that starts running against you. And at that point, I think what a lot of people get into trouble with and I did as well is that I was adding to a loser. So I try to avoid shorting the first resistance, I’ll do it with very small size at the top of the range, because you can’t really blow up at that point if you have your risk in place. So for me like everyone sees me in chat death lines are my favourite A plus setups, I size into those. It’s, you know, the risk is super tight. If it’s over by 10 cents, you know, it’s reclaiming, and you’re out. Depth candles have been amazing in the past, I find in the last month to two months, that they’ve been reclaiming.
James 9:04
Their killer right now.
Mitch 9:06
A nail & bail for me. Whereas a death line if I if I had better patients, and that’s what I’m working on. You know, you can if there’s meat on the bone, man, you can get a buck and a half on a deadline. It’s like zero stress. Yeah. And my other two setups that I really like to trade are, if a cracked major support wherever that may be, I’ll short that bounce if it’s under VWAP anymore. But if it’s over with VWAP. I’ll put some small size on and wait for it to confirm. And trend rates actually I really liked drawing. And when I see that trend break, it’s not a break. It can’t just be a little dip and up. But if it breaks that trend line with authority, then I’m short that bounce and if it reclaims again my risk is super tight so I don’t have to really stress about it you know?
James 9:57
You know it’s funny to talk to you is I can just tell that you actually do watch the videos, because I, we get hundreds of DMS day. I’m sure Eric can attest this as well. And a lot of times, like, some person will say, like, oh, yeah, I’ve watched the video, but, but when you talk to him about it, you can almost tell that they’re almost lying, or that they just didn’t really focus on it. So it’s actually refreshing to hear you even talking about like, the setups and, and it’s just, it’s very kudos to you, man, being a father, and this can’t be fucking easy, either. So that’s, you definitely put it back in work. It’s awesome.
Mitch 10:30
Yeah, thank you, Brother, listen, and really the fact that I can reach out to any of you guys, at any time of the day. And I know, within a few hours, I’m getting a response back. It’s just amazing. And, you know, I tried to tab group at the beginning, but what was happening was, I was with guys that were a lot younger than me that had no responsibility. And it just wasn’t, you know, they Trade the Open. So wasn’t the same mindset. And so I went through a few. I went through a few tabs, and then I actually found a group right now that I’m with and they’re just amazing. So most of them tray, the open. And, but they know I’m in front of the screens all day, and they’re checking in with me, wherever they are, they’re at work, they’re like, are you okay? Are you safe? Where are you at? What’s your risk, I love that. And that keeps me in check. And I never believed them. And I was like, okay, tabs, blah, blah, blah, blah, blah, it’s all bullshit. But in the end, these guys are just keeping me, you know, just level and it’s, it’s a big thing for me. But again, man, I’m, listen, like I said, I’m consistently profitable, I’m not where I want to be, I think I’ll get where I want to be. I’ve been trading pretty small size, I’m slowly sizing up now. Because I know my risk is in place. And I have to trust my lines more than I do. And I have to avoid FOMO. So I mean, these are all the things that we hear all all the time, and you have to do it.
James 11:53
So I guess what are the things right now that are like, like, what are something that we can help you with? Like, do you have something direct that you really struggle with, and that just hearing some advice kind of person, of course, would help on or?
Mitch 12:05
Um, so like I said, my biggest problem, and I don’t know, where you guys stand with this is, is it’s trading line to line. So my entries are actually pretty good. These days, my exits, use a lot of work, right? So if I have sighs on and I see that now I’m looking at my p&l, and I’m up, I’m gonna take half off, and I shouldn’t take half off, because every time I do it, it hits my other line, it hits my exit. So I mean, these are things that I don’t know if you can help me, you know, if you’ve dealt with these things, the trading the p&l, I’m trying to get it off my screen with trade zero, it’s such a fucked up platform, that I don’t know how to cover it up and not having that would be a huge help to me. But, you know, I think what I want from you guys is to if you have any suggestions on how to, to level up, I mean, yes, I trade a small account, and I’m growing that account, but I need to level up, I need to get that confidence, because I know I can do it. When I look at my charts the other night. I know it’s in hindsight, but I was in that trade. Why didn’t I just not hold on to it? Right?
James 13:06
Absolutely. Harry, you want to hit those points because Harry’s one of the best line to line traders I’ve ever seen, to be honest. So I think you want to hit those points, then I’ll jump in and do it.
Stressing Support and Resistance Lines
Harry 13:14
Like one thing that I’ve really kind of stressed is that, you know, let’s say there’s a really good support line at five bucks, or maybe I’m shorting and there’s a good resistance line at $6. For me, if let’s say I hit that, and I’m in the money right away, that’s something that I kind of say to myself, Okay, I can hold this a bit longer, because this is working right away. Like that’s telling me that my idea is working right away. Like if I am kind of like long, maybe, let’s say the high day is six bucks, okay, and I’m long at 580. And we pop we get to $6. But and $6 is a significant level, like that high day level is very significant. If it goes over that technically a bunch of shorts should be stopping out that should be going crazy, we should be moving higher. But if we’re starting to fight that level of we’re having a hard time getting past that. I’m saying to myself now I’m going to take this off because I start fighting with myself, I start fighting with the stock I start fighting with the ticker. And you know, when you talk about like, Oh yeah, I’m sure. Like, there’s been times where, you know, I’ve been shorter stock rather than long a stock and everything has just really worked so well that I was like, Okay, what is the reason for me to take this trade off? You know, because I kind of say to myself, Okay, what’s the reason? My reason is maybe Okay, the breakout level it didn’t really do or act the way that I liked. You know, maybe maybe you’re short into a pop and we just automatically crack and we’re raid through a major support and we’ve death lined, like why are you going to take that off? You know, right you know that a ton of Long’s are bagged. And you know that like with authority, like you know that 100% a tonne of Long’s are bag. So for me, I’m like, Okay, well, I can wait 10 minutes and see where this kind of goes and if the volume is fading, and we’re confirmed to go lower. Now I can hang Go on to that for a little bit. And it’s the same thing if I’m wrong, like, right, we break Hi, today, immediately we go from six to seven, everyone’s talking about it, boom, boom, boom, hot chick. Okay, I can hold on to this for a little bit, right? And so that’s kind of where
Mitch 15:13
you will you will you trail it?
Harry 15:16
Ah, well, it really depends, like, let’s say, I’m always looking to kind of scale out When, when, like how overextended we get from V whap. Like, as far as on the long side, like, I’m looking at the daily chart, mostly for levels if we broken high day, and if we’re kind of, you know, a lot of the things for logging is that, you know, you’re kind of like looking for that holiday break and seeing kind of where it goes like. So I mean, I’m just paying attention to every kind of key level on the chart. And, you know, if we’re having if we’re stalling, if we can’t get by that level, if it’s really hard, you know, I’ll always take some off into whole and half dollar. But, you know, sometimes we just blow right through. And it’s like, we were at 350 A minute ago, we’re at $4. Now, right now, and those types of situations, but if I see it start to stall, and we’re like, we’re printing like, 350, and then 53, and 54, and back to 52. I’m gonna look to take something like that off. Right, right.
How to Cover Your Short Positions
James 16:13
So, so I think for me, on the short side, I had the same issue. Like I my entry is like my whole career, like my whole trading career, my entries have honestly been pretty, like, good. But my problem was like I would short and then I’d cover so quick, because I’d like be like, I’m up money in your eye. I’ve done it all. Man, I’ve hit my p&l, I put tape on my p&l. I’m good at math. So like, obviously, I just, I know what I’m up when I’m when I’m in a trade. So honestly, Mike Shore was I, I put a FOMO cover button on my montage. And, and I just even if you don’t can’t do a hot button or whatever, like I you can just do a manual. It’s just, you know, if you’re short, like 2000 shares, right? And you know, you have to look at it from like a, like a bird’s eye view of like, alright, if I cover now, like Harry said, like, why would I cover now if I’m right? Right, if the trades working for you immediately, you have to think the worst case scenario is you can just stop out for breakeven, right? So that’s like, your first step is to remember, if the trade works immediately, you’re already in the money. Worst case scenario, you just stop out for breakeven or a tiny loss to is that if it’s trades working, and you just understand, you’re risking, like, for me to kind of recognizing like, I’m risking money here to make more money, why am I going to risk money put in all this work, just to pay myself half the job. That’d be like me, me doing a full haircut, and only taking half the money, right? So that was kind of step two. And then step three was kind of this formal cover where like, I know, even today, I feel the need to cover so today on DBGi, you know, I was short my full size, you know, and I had a sick average. And I knew the 485 I mean, the 85 line, or whatever it was was coming. But I paid myself like 20% of my total, like short on the dip to the 90s. Because that was enough for me to like, feel like alright, I think it’s like an adrenaline thing in your brain. Sometimes we’re like, you just need to take a little off. You take a small piece, and then who the hell cares. You’re already making money. Now that kind of like that itch is gone. Now you’re like, alright, I made some money. Now I can wait for my next spot. And all I did was put my cover out there, man, I put my cover out there. And I let it happen. And that’s something too that it can take through because, sadly, the lines they work so well. They’re like magnets crazy. It’s It’s fucked up, dude. It’s crazy. And like, that’s the reality is once you gain that confidence, I mean, some people struggle and I just tell them to set the fantasy order set your fantasy order for the cover you want, cover a piece and set the rest. And then you know what, again, set a break even stop or even to stop it a little bit a little bit less prop or a little bit of profit if it goes back to near average. And that’s really it man like that for me like that shortage. And just seeing like, a trader like Alex hold, like 10 20 30,000 shares, like we used to trade on the phone together sometimes. And he’d be short, like massive size. And I’d be like, dude, like, you must look at your p&l and be like, Oh my god, I’m up a Honda Civic. I should, like but but no, he’s just like, No, he’s like, this line is coming. And it’s just so methodical. And it’s so robotic. And like, that’s it. And that’s what he does to me. And I see it as like, I’m waiting for this line. It hits that line. He’s like, I confirms he’s in and he sells it to say I can tell you here he’s charged just because I know where the line is gonna fucking get out. And it’s just, it’s any once you start recognising that the best traders out there, just wait for their spots. You kind of start to it’s like working Oh, man, you get that those exercises in and eventually it’ll become second nature for you.
Mitch 19:41
And I think that’s what you know, I’m struggling with the most. So now what I’m trying to do is if I get into trading starts working in my favour, let’s say I have a trade. I’m shorting it at the 10 line, and I’m scaling from 10 to 1020. But it hits 10. What I’ll do if I starts working in my favour, I’ll just put a stop loss for breaking even. And then I’ll just keep my other my other orders out there, right. So I can’t really lose, but maybe it’ll hit my other words, and I’ll have a have a better shot there. So that’s how I’ve been experimenting with that. I’m just for me, like I said, My biggest issue right now is letting my winners go to the next line. And, and I’m checking my p&l, right. So that’s one of the things that I’m working on. And what I’ve also noticed that, that was hurting me a little bit. And actually, I got caught with T cat the other day, when it just ripped out of the open, came down and then ripped out of the open and got everybody, right. So I think it happened in like five minutes or 10 minutes out of the open. So now I’m actually kind of not trading the open anymore. Unless it’s a low hanging fruit. I just want to stay away from it because I need those more methodical knowings and bounces and everything like that. And one of the mods now who I really love his charts, and I’ll tell you what, Steven, I love reading does, I love what he does. He it cracks support, they’ll take a little piece trying to break the next support level, they’ll hit it on the bounce, and then they’ll start covering hit it and then shorted again on the next major support level. And that’s how he makes us all a favour. It’s amazing what he’s doing.
James 21:18
And Steven kicks ass as well. And, and honestly do the market sentiment has changed like trading the open used to be as a short it was like almost so easy, and like looking back on it now I can’t even believe how easy it was, it’d be like to get that pop kind of through the resistance, it would still get short. That was it. And and now it’s like trading the open is fucking hard. And with stocks like T cat, like, you know, you got to remember when you see guys like Alex crush it. And I always try to remind members this too that like, you’re talking about a fucking the guy’s a monster, right? And what makes Alex so good at what he does that he can scale such a wide range, but when it’s fucking right, and it’s time, he’ll load the boat in. So like for him like like me, I scaled like $2 And it’s like, oh shit. But but like for him, it’s like it, that’s the thing, like it’s okay to to not be that guy. Because like the MIT process works throughout all times of day really. And well, however, whichever way the stocks trading, you want Trade the Open to trade the open, you stick to the same kind of guidelines, but if what makes you feel comfortable is letting the morning play out, and then trading the chart as it’s they’re like, dude, hell yeah. Like, stick with that and go for it. And there’s nothing wrong with that.
Mitch 22:32
So I think that was a big thing. And it’s actually a question that I have for you guys is, is really, that you guys try to take care of that home. Okay. It’s like figuring out your trading style, right? So when you come into mi See, for all the members out there, it’s like, okay, now you’re looking at that was just it’s an algo. He’s an algo human algo. Very similar with your trading and out with Alex. You know, Harry’s got a totally he’s along. It’s a totally different worlds for me, Austin, who’s just a genius, he can trade every which way. And then you have Steven, who’s the guy that I like to base my trades around after seeing all his charts and stuff also, but step trades a lot over V whap. And that gets me nervous. Because there you can get blown up. And that’s where he did mention that he got blown up. Yep. So I think for Mike, Mike, for me, it’s trying to find my trading style, because you can’t be any of you. And whether you’re good or bad. You have to be who you are, and what makes you feel more comfortable. So my question for both you and Harry is how long did it take you to figure out your trading style? You know what I mean? Like you knew your short bias, and Harry knows his long bias, but how did you figure out how you’re going to look and trade those charts?
James 23:48
Every month? I guess?
Finding Your Style of Trading
Harry 23:49
Um, yeah, I think that one’s a more complicated question, because that one has to deal with, you know, day to day setups, right. And how I kind of found myself was that, you know, after you’ve been trading for a while, you kind of start to understand that the same things keep happening over and over and over again, right. Like, I understand that if something has gotten, you know, an insane amount of volume premarket, and everyone is just hot and horny to go long the stock that I might have to wait till zombie time, you know, my whole type of you know, trading and my whole journey and my whole evolution has really been about waiting for the right kind of moment, and saying to myself, Okay, what’s my thesis, right? If you’re a short trader, you you want to be shorting against trap Long’s you want to be shorting against, you know, to kind of get that supply. And if you’re a long trader, you want to be getting that kind of demand and kind of like picking those spots for those kinds of areas. And for me, it was just saying, okay, like, let’s say, you know, we have a broken chart right? Do I want to go long the first kind of pop on a broken chart? Like, no, there’s no way right? But do I want to wait maybe you know, 2530 minutes until we start grinding and grinding, grinding higher. And now we’re time to start, you know, parabolic thing, you know, up and blowing everyone out. Those are the type of spots that I want to wait for. So my whole kind of trading mentality has been about, you know, and like, I mean, I don’t mean to, like swear anything, but like, I’ve been fucked so many times that like, you can’t really fuck me anymore. And that’s the whole kind of, you know, thing and the whole kind of process is that I just don’t want to be following in. And, you know, if I have a lot of executions on on the day, I know that it was a FOMO day, I know that if I’m, you know, running around, and I’m just looking for a trade here, there, you know, it’s probably time to step away. I think how I found my style is just, I’ll look at a chart and just say to myself, Okay, you know, how did this kind of type of play play out the last time I traded it right? And we all know, right? You see a stock called up a couple times, you know how you traded that the last time you see a broken ticker, a non hardship stock, how do you trade that last time? How did that kind of come into play? You know, and so I kind of learned where it’s like, through my stock selection and through kind of seeing things. That’s why I really kind of started to understand like, Okay, why are Why are my day two trades profitable? Well, usually, because it’s a stronger daily chart. How come my day three day trades are profitable? Well, usually it’s an even stronger daily chart, right? How come my day one trades are profitable? Well, I’m trying to get trapped shorts in premarket. So there’s all these different things that have kind of helped me find my identity. The number one thing is just let everyone get fucked before you. And then when you have that little rat trade that you can take where it’s like, I’ve waited so long for this, that I can take it and it’s a go now. That’s what I kind of look for it like those sneaky trades that like, you know, I’m not emotional. So like, because like, a big thing to me is that like, if I placed a trade on the ticker, I’m immediately devoting myself my money and my emotions to that fucking ticker right there. The minute I press Buy button, right, so now I just said myself, okay, I don’t want to really be emotionally involved with this ticker. I don’t even want to buy 100 shares, because I don’t want any skin in the game. I’m just gonna wait, I’m gonna see how things go. Is this ticker kind of starting to grind up? Is it starting to kind of grind higher and you know, have shorts kind of on guard a little bit, that’s what I’m kind of looking for. Whereas if I was shorting I just if I was shorting I think, like, I just say, and I mean, I could go short these tickers now and just place random fucking orders out and just short into the broken stocks. Because it’s like, how many people are paying attention to the stock to right, is it up 10% And no one gives a shit and everyone wants to trade a different stock. So I think the stock selection for me has been very key as well. You know, a big part of your a big, big, big part of your, you know, your trading process and your trading journey. It’s just finding the right stocks to trade, you know, right, like, does this chart have a beaten down daily chart? Is it a dilution piece of shit pig? You know, that’s perfect for a short, but has this ticker gotten, like some type of like, FDA approval news, and we’re running frontside premarket, you know, that’s something that all kind of look for. So it’s really just the stock selection, you know, understanding the game and just taking your time and that has what has led me to success. Whereas I find if I’m rushing, I’m taking a bunch of trades I want to make money I’m not paying attention to the chart, I’m all over stock pumps and I’m talking long, like that’s not going to make me any money. And so it’s really just been a slow methodical process that taught me
James 28:43
So I think for me and we are coming up on the 30 minute mark, too, so I’ll get this answer and then we can kind of start to wrap it up but I think for me, like I joined MIC like, because I didn’t really know much about bow yet. I knew about Alex but I knew he taught Alex a lot about talks a lot but I tried to every style and like you know I tried trading like bow basically they’re going blind a lot like his version of wine the wine like how robotic it is, like just setting orders no matter what and and I just found myself like sweating like actually sweating. I’m seeing my chairman. I’m like, What the fuck like I’m like, I’m like I’m like I don’t have time to do this and I don’t know how to do that. I don’t know how to scale I message him like how many skills do you do like how many bullets is how many bullets do I get out like it no matter how he explained it to me like I almost just couldn’t get it like I just I felt nauseous in the trade like I don’t always feel like I’m about to get my back blown out. I was like fucking scared whereas like when I would trade like more similar to the style of Alex which is like I call it like emotional technical analysis like he’s just trading off of like boom boom boom like where the charts breaking where like Long’s are fucked getting out like just no emotions getting in getting out and that’s it like quick in trying to do it with size. I felt like totally in control. Like, I felt like at that moment, I could turn around, I can be full size in a trade, I could turn around, talk to my girlfriend or whatever, look back and be 100% comfortable. Right? Whereas, like, when you have that feeling of like, I can’t take my fucking eyes away from the screen. Like I feel like that means you’re either a you’re oversized or be you’re trading something you shouldn’t be. And I think that for me was like the turning point. I was like, Dude, stop trying to be a trader that you’re not like, there’s a million ways to make money in the market. Harry sikat Long’s bow sikat like technical analysis like line The line robotic as trading, everyone has their specialty. But when you’re in a trade if you can’t fucking go to the bathroom and you can’t like take a sip of water relax, like just like take a minute then you’re trading probably either too big or you’re trading something you shouldn’t be. And that was my big thing was just like I’m very good at listening to my gut and I’ve been lucky I’ve met with a few like trading coaches and like the all of them have said very similar things that it’s just It’s this feeling in your gut like if you’re doing something you shouldn’t be and it’s against your body and like you it’s all it’s an art it’s like a wired in our brains we can’t fucking make this the we’re not in control of that. It’s just if you’re doing something that you’re not meant to do you know it and that’s how I explained it to everybody’s like, I literally get nauseous like a feeling and like the pit of my stomach and I think for me once I got rid of that was when I started trading the style that just I got it right like you were talking about like how trading overview what makes you anxious, walk that shit. Don’t do it. Because if it’s not for you, then it’s not for you. And again, look at Steve I don’t see Stephen trader review that much. But he nails he makes his bread because bread and butter is the Under VWAP wine the line like just hitting the bounce to support getting out. And you know what? I can’t do what he does. I love it. I’m like, dude, that’d be sick. I wish I could sit here all day and just do that. But you know what? When I sit here all day, I’m like, I’m fucking bored. I’m gonna go train Tesla, like, I’m gonna like, I just can’t do it. So that’s what it was. for me. It was just finding that comfort and that like, it’s stupid. It’s on the inner like Zen. I’m just like, I’m in the fucking driver’s seat, and I’m doing what I’m meant to be. Like, that’s how I feel when I’m cutting hair man. Like, I know what I’m doing. Like, I’m in the zone. Like, I just get it. But if you have any go fuck and instal like an AC unit or something. I’ll be like, What the fuck am I doing? Right? So it’s like the same concept, man. It’s just, it’s just fine. What works for you and stick to it. And don’t let anyone tell you it doesn’t fucking work.
Stress Is a Feeling in Your Body
Mitch 32:21
But it’s it’s interesting that you say that because it is a feeling in your body. Because once you said if I’m trading overview up, I’m stressed man I’m seeing every tick palms are sweaty, like Yeah, and I don’t want that. So I know that if I if I’m under View, and I know that there’s a level where there’s all bag holders, and I’m just gonna short the shit out of that level.
James 32:43
You’re talking about it, you’re like I’m gonna short the shit out. First resistant to like, scared feeling
Mitch 32:51
When I when I trade the first resistance I’m literally shitting in my pants the whole time. And that’s like when I was with farmers like this can’t be what I want to do. I don’t want to be a speed demon on the hotkeys. So you know what, I don’t want to trade the first resistance I don’t want to trade over VWAP and but what you said is really true you feel it in your body you know if you’re comfortable with it or not. And I want it to wait when guys get into trades and they’ll say main main chat like that the stress free trade that’s what I want. I don’t want to sit here shooting men and at least I can use VWAP for a line above as as my my ultimate stop out and and that’s it so it’s really important what you what you both said it makes a huge difference, man.
James 33:31
Oh yeah, man, I really hope this this kind of like get together helped and, and I carry I liked it. I really do think this is pretty fun.
Harry 33:39
Yeah, for sure.
Mitch 33:40
I really I could go for another hour. But I know we have a time limit. And I really appreciate it guys. And I hope that the other members see what’s going on here. Again, it’s coming from a guy that’s not an overly successful trader right now. And you know, I see those big p&l ‘s Man and I want it to be me, but I know my time will come. You got to put in the work. You got to come up with your process and you got to trade the right stocks. If you’re going to try to you know, if you’re short, you’re trading a 1 million float on SSR then you know, you’re asking to get blown out.
James 34:08
Yeah, that’s just what it is. Well, man again, thank you so much for coming on end. Yeah, Harry. Thank you, man. That was That was fucking awesome.