At the absolute minimum at the absolute minimum, absolute minimum, you need to um have a watch list at the start of the day and go faster at the end of the day and say what did each stock do? Which stock needs to be rolled over at the absolute minimum? Seeing like i did that you know like like for me, you know i didn't have to deal with the pdt um. You know it was. It was around. I just had enough money.

I didn't have to deal with it when i was learning but keep in mind. 2006. 2007. I had babies business.

You know i a lot going on, so there were a lot of days. I couldn't trade, but i still did that. Welcome back everyone to the steady trade podcast, quite possibly just a little bit of foreshadowing, to clue you in quite possibly the worst podcast of the steady trade series in a couple years. I say that because we don't have kim to keep stephen and i in line so who knows who knows where this could go? You know i have no idea, we have no plan, stephen and i i mean keep in mind.

You know steve and i have no plan. Our our preparation is zero. So so we we we, we trust kim to guide us to keep us on point to keep us from completely going off the rails. I mean we still go off the rails a little bit, but as we're careening off the cliff, she kind of pulls us back but uh.

But that being said, welcome back to the steady trade podcast. Welcome back stephen feels like the old days. I literally just showed up - and i was just thinking uh - what's what's the plan and the plan is no plan so uh. So i like that.

But but we do have plenty to talk about so so the the biggest thing we're we're going to start with and and we'll kind of see where we end up but uh. You know yesterday so we're recording on august 18th, 2020, 20, 2020, 2021 um, and yesterday yeah we had yeah, it was kind of slow. You know, i know we recorded some episodes about slow summer and man. It was kind of slow, but never it wasn't like true august, but i mean it was a little bit slower, but then yesterday we had uh vrpx, which was a two or three million float stock.

If i remember right, uh history of running by the way um now normally runs and then and then dies. But the stock has put a history of running in and then yesterday proceeded to go from eight well to yeah and after or well in pre-market. This morning, hit 39, so basically eight to 40 uh, 180 million shares traded yesterday um and it really woke things up. Today i mean i you know: stephen was on the steady trade team webinar this morning and and i mean we - i had like 10 crappy biotechs on my watch list that we're running, because we see this when v.

You know everyone wants to find that next vrpx. So we're gon na we're gon na we're gon na talk about the reemergence and the one day of slow summer trading we had but yeah i mean look. I've been very clued into what other people are saying. Other traders are saying because, when the market goes kind of slow, you kind of want to have different touch points to be like.

Are you experiencing? What am i, what i'm experiencing you're looking for a little bit of confirmation when everyone's saying pull back the market slow, then you kind of know, pull back because the market's slow and when, when people are saying, i used to go for 10 and 15 percent long. I'm honestly taking six and seven percent i've just cut my profit targets in half, because the momentum the momo is is not there. Then then, you know you need to like kind of scale back, wait for something to set the market on fire again uh most famously, and what we'll get into uh we'll get into vp vrpx, but most famously do you remember spi yeah spi set the market on Fire after what was a very slow few months, as i said, if i remember right and obviously um the listeners could google, i wan na, say that was august as well. That was like uh around there.

It was some it was late summer. If i wan na. I me i mean i might be wrong, but yeah. I still remember spi, because it was just like going insane during the podcast and then proceeded to like double again after we after we ended, i believe, but yeah yeah.

I think september 22. I think it was september 22nd, it must have been close, was not bad last year, but september kind of didn't pick up at the pace. It should have so everyone's kind of like. What's going on it's september, we're not picking up then sbi happens.

Now. I think what's fascinating about spi and vrpx both set the market back at light, both two to three million floats both have a history of government and failing and then just caught fire all of a sudden and both had experienced unprecedented volume that they've never had in The stock history before so they're all like popped and failed on 40 million 50 million, but in 2021, when you're, hitting 150 200 million and you're a one to two million flow and everyone's expecting things to fail. It only takes one yeah sbi, speaking of which yeah yeah it was september. 23Rd would have been the day yeah yeah, but you were you were one day off close enough, but but but 400 million shares and it you know and it traded at 30.

40. You know 46 dollars 47, a top. I mean that's a billion dollars in dot in dollar volume of a sketchy. You know terrible super duper, sketch petroleum stocking.

You know, and and and vrpx same thing. I mean you just terrible stat, but the dollar volume is just ridiculous yeah, and this is like there's two things. I want to flag with you and i i whenever i say i want to flag two things. I forget the first one and i set myself up to look like an idiot every single time.

I forgot the same one again, the first one it well first. One thing is, i want to talk about momentum and why sometimes momentum works and momentum plays work and sometimes they don't, but the other thing is i track the gap as believe this right. I track the gap as for all of august, so you'll have a gap by like up 20, whatever runs whether it runs all day or it doesn't uh do you know how many gapped up the next day and had follow through this month so before i so, Like uh like, like percentage, is my answer, that's it just say say anything. So what i'm saying is i'm yep yep um 20 runs.

Does it did you know what percentage detailed like you know what they ran the next day they didn't gap down and come down for august man um. You know what listen full disclosure, i'm i'm guessing here. Um 65 92 came down 92.. You know i did not.

I wanted to skew to the upside, but i felt like maybe i was going a little high. I didn't i i i thought. If i was wrong, you were going to say, like 75 percent, like i would i didn't realize i was. I was off by 30 percent.

No, not the crazy first green day is not the otc specifically stocks that gapped in the morning, like 25, anything that ran gap down the next day and failed. There was literally one so puts us to the point in case vr. Px, what happens when it doesn't gap down right it? It literally goes like 15 bucks cattle because everyone all shorts all shorts are like this month. All calmed down so i'll, be fine.

I'm stuck i'm underwater, but they'll all come down yeah and then just for context. So vrpx at 8 p.m. Remember nasdaq stock, so trades up till 8 pm eastern it closed at 18.75 in the 8 pm close and then at you know, 7 30 a.m. It hit 39, so it basically doubled again in pre-market.

You know roughly in essence, so i mean i mean what a swing i mean it was just too much of a. It was too much of a difficult trade. I think if you'd missed that morning entry, i know there was a very clean morning. Entry at around, like 11 o'clock in the morning, if you'd missed that in your video, it was that kind of viewer poll that i think that you talk about yeah, but i mean listen, full disclosure.

I mean again yesterday afternoon, well two things yesterday afternoon in the steady trade team webinar, someone asked me about shorten it and i went on a freaking rant, i'm like man, no, no! No! No! Now i do again i that that late day it was just kind of i mean it was kind of just all over the place into the clothes. So so i didn't gap it okay, i didn't take it. Oh, you know now it went all the way up to like 20 bucks at 4, 30 p.m, but but um, but again i just listen. I i think that they're.

So my point is what i'm trying to spit out is there's two valid approaches to vrpx. Yesterday afternoon you either ignore it or you take some small size long. But if you're thinking about a shortness thing you're freaking crazy. But you can't you can't long that, because if ninety two percent yeah like ten twenty, two percent of the gap as ninety two percent of the gap - has gap down you're playing a strategy - that's stupid, i mean, unless you start seeing it moving after hours and it's Definitely holding and then you're like all right.

This is the one but but the other point of the two points that i was going to make is uh pmcb wouldn't have worked today, wouldn't have worked correct unless the rpx had happened yesterday. So i just want to talk about how kind of the mark one tick. I can set the market on fire and i don't think um i don't know if pmcp is related, is it a biotech as well? It's a biojack, but i don't think they're. In the same sector, i don't think they have anything like relation.

I just think in my opinion, in my opinion, you had a 2 million flow biotech and that that that's the only thing that they had in common. So, but you know what's outrageous, and this is something i've only like i kind of always knew, but it's it's just outrageous for me it's if, if if the stock is on um, if it's easy to borrow, if it's a one million floor race, there's one million Shares of that float, if you want a short of one million floors, it costs like ridiculous amounts of money to borrow like 50, like 40 bucks for 100 shares 30 bucks for 100 shares and 1 million floors, because everyone wants them right. If this is a 1 million float and it's easy to borrow, that means the whole float are going to be short because everyone's going to take it and and to a degree there must be land in more than a million like that must go over 100 short. You would think if all of the brokers are given it, you got ta believe you know again, i mean it's like you know again, pmcb it's it's we're recording at 1 45 and it's traded 170 million shares.

I mean it's like a and it's gone from. You know yesterday this is a 200 a 2.50 stock and it went to 10 bucks. Today i mean it's like i don't know, i mean there's and i'm not one of these conspiracy guys i mean i know i like to joke about bigfoot and black helicopters and all this crap, but it's like i just got ta believe that there's way more, there's There's either some inventory that we don't know about which would be a question for like jj, vwab trader or there's just brokers that are allowing you to naked short. I mean, or or i i don't know i don't i i i don't have it.

That is something that we should probably specifically discuss with jj at some point is like what are the mechanics of that you know yeah i know, but but i mean, and but the point that i wanted to make is if it's easy to borrow and it's trading 15 million pre-market and when you look at its volume history it it's it's like. Never really it's it's like ran before on, like 40 50 million, but when it's set to trade like 200 million on the day, it's almost like the news doesn't matter the chart. Doesn't matter all what matters is that you get a good structure to buy off during the day like it's literally a trading vehicle right, oh yeah, yeah, and i think that's why you see you know again, that's why you see you know like like like this morning. I mean when it you know.

I know i talk about like these whole dollar, half dollars and higher day breaks, but it's like i just think again. You know it's like somebody, and this goes back to the jj. Podcast is just like they just you know, and i've done this analogy so many times on the podcast even before jj. You know i always have that, like that volume knob where or it's like a it's like a throttle, you know like on a boat or something and it's like they just ease the throttle up to that high a day or that whole dollar half dollar or that Green to red or that 52 week high and then they just boom and it's like all of a sudden pmcb hits six bucks all of a sudden.

It's you know it halted it, but but basically it's it is insta. If it wasn't for the hulks i mean it instantly went to nine bucks, you know as soon as it hits it yeah now, there's there's two things i want to talk to you about, based on the the the steady trades uh broadcast that i did this morning. I thought there was there's two interesting points in it that you brought up to the group during the live. The live pre-market session.

The first thing that you pointed out was um the big move, the big move through high of d - and you are saying that's short. It's getting squeezed and i was trying to type as much as i can, because i wanted to add tea as like: it's not only shorts getting squeezed. It's those stops because i mean if you're, sensible short you've got to stop right. Sure you're sensible you've got to stop, but you know the the the the slippage on those stops.

Absolutely catastrophic and um you i mean for me: you are dead on the amount of times i've talked and absolutely awful awful. I mean it um pmcb. It went from 670 to pretty much 850., so when about 15 20 you would have lost about 67 slippage, and that is literally everyone. Long on the higher day, shorts, covering the high of day and and you've got 15 percent move in two seconds but and yeah.

I mean i mean, that's why you know, and that is why you know that point you make. Is you know, and here we go? I got to give the whole disclaimer i'll, keep it short this time, but you know i am not anti short selling. I i you know, and i know listen. I know i post the memes.

I talk a lot of smack it's fun again. Nobody gets more easily butt hurt than shorts. If they didn't get so easily butt hurt. I wouldn't do it all the time, but i am not against short selling, but the point i'm making is back to steven's point is, if you're a newbie, and that starts happening to you man, it's all over.

It's like you, don't know what to do. I mean it's it's classic gear and headlights, you know you, can you can't change the order fast enough? You don't know what the hell you're doing. You start using market orders and it's just it turns into an absolute disaster. So that's why i'm like don't do this? If you're new, okay, i get it, it's tempting.

You know it's like you see the big numbers on social media. You see the big numbers everywhere, but it's like when it goes bad. It goes so bad that you can. You can have good intentions.

Okay, you can say i'm stopping out here, but you can't you you, i mean you can try, but you can try and say you're gon na stop out at 6.50, but all of a sudden, it's 7 7 58. And if you have small account, it's done it's over yeah you're done. You know it. It comes to experience and i remember, reading in a book of one of the people that we interviewed.

If, if you want to manage your risk, try being a racing, driver, you'd drive a car really fast and then you'll start learning how to react to things in in that speed and time and you've just got to be prepared, like you cannot be shortened in the Market, unless, unless you've seen it for a few years, exactly yes but pmcb, i'm thinking this is like almost definitely going to go like almost. Definitely if it doesn't, it doesn't, but it's but like i'm, not touching it shortly 10 o'clock. If i do at all - and it's just it's just you know it's gon na go so you're just watching for the signs, then you take the entry and if you're short and you and you're stuffed enough to short it. You think i'm short, but this could definitely go so your hand is on cover your hands on cover and you're already mentally prepared to say um.

If, if i get stopped out, i'm not i'm not adding emotionally, because i know it's a stupid trade in the first place. So do you know what i mean so it's about oh yeah, yeah, yep yeah, i mean i mean, and i think that you know that is one of those things where you know people ask like you know. How do i stick to these stops and you know it's like listen if you have enough bad things happen to you, you'll stick to those stops. You know you know we joke about the the whole pain thing, all the time, yeah exactly where the market is terrible and everyone's got a different pain threshold, but uh the market will always put you back in your place.

But, but what i wanted to talk to you about, is you what you seemed at the end of the um at the end of the podcast? At the end of the the morning webinar, you seemed a little bit like you're. Like you, you were sad bad people that people had missed the trades, but you knew you were giving the right advice to new traders, but you were stuck emotionally. You seemed a bit upset. You were stuck like well, do you want to talk about this? Do you want to let it out yeah yeah? Well, i'm glad i'm i'm glad you're actually paying attention.

I feel like i listen to everything i feel like. Sometimes it's like people ask like i'll answer something and then 10 minutes later they ask the same question. I'm like what am i it's like. Oh, it was interesting, so you're paying attention.

Thank you yeah. I mean ultimately you're right. I mean i was. I was bummed because you know here it is.

I mean it's halting to the upside. It's i think when i ended the webinar, it would have been. You know: 9. 50 a.m.

Ish. You know stocks at eight plus and i'm like you're right i mean i was torn. I was like, i know, i'm giving the right advice, but at the same time you know the stock spiked four bucks, a share at the open and and people are going to be like well. Why did you caution us to wait for 9 45? Why did you caution us to be careful? You know remember and for the listener, no news on pmcb now again, vrpx's news is very dubious, but at least it had something.

There was no pr on pmcb. It was a chat, pump um. So it's like. I got ta, i got ta, try and keep people safe, but then the thing spikes, three bucks, a share.

It's like damn. You know it's like. So it's tough. You know it's one of those situations where it's like it's like coaching.

You know it's like you. You draw up the right play and you try and put people on the path, but you know sometimes the the other team figures out the play and you lose the game. You know or you know, and it's like so i don't know it was a tough one. I admit because listen i spent half an hour begging people to wait till later because of lack of pr and chat pump, and then it was just a beautiful three dollar spike at the open.

So but yeah i mean the thing was, though, like you did everything right in in relation to the fact that you're saying look, this is me main watch. This is the top watch. This is the one we're focusing on. This is the one that we're watching at the open.

Everyone was ready and prepared on that stock, but it's like it that that's where there's like a gray area, because those who can react quickly and have seen the price action and know the context and they've seen it before can't take the trade if they wish. Like several people - and you did yeah, it wasn't enough - it wasn't at the open. If you, if you want to be aggressive, there was a an entry at 9 30 you've got six percent, stop stop low a day, but but then for the newbies. What are you going to answer in that email when they say? Oh, it dropped 15.

Couldn't react lost to thousands exactly yep, exactly yep, and you know, and that's where again and you've heard me say it a million times what i, what i try and do with the mentorship program. You know this goes back to the very first episode of the steady trade team. You know what i'm trying to do is keep people from from blowing up. You know people from keep people from dying.

Okay, because you can't you know you can't learn this. If you blow up month, one or blow up month two and when i listen, if you miss it, it's like it sucks and again, that's why i was bummed out at the end. It's like man, i missed it. You know, but it's like tomorrow is another day but, like you said at least nobody at least nobody that listened to me if pmcb had fell apart at the open, like a lot of sketchy biotechs do like a lot of them.

You gave the 90 stat okay so 90 up until yesterday. That was the fact, so i want to keep them safe and tomorrow's a new day, and you know, like you know, you know the math, you look at you know you got if you lose a thousand. You know you i mean you got ta, make a thousand just get back to break. Even you know, and if you got like some pmcb's gon na go right now, um, it's back at eight.

I don't know it's gon na go like this. It's gon na go um, i'm not taking it because it's not me patent. It's not me patent and everywhere it's two o'clock make money. It's not me, patton! It's it's a little early.

I think eight is early, but if 850 hits it's on okay, because eight failed at eight failed at one o'clock. Here we are back at eight, so i think eight is early, but eight fifties at 8. 50 is the time 850 is the price. I think it goes at that point yeah.

So anyway, what was i saying? I've got a quadruple bottom on that as well. It's like a quadruple bottom. Then it's killed. Now the volumes come in.

It's like yeah. I mean it's. What were you saying? Well told you? I don't know i don't know, this is where we need kim jim would remember what we were talking about. Yeah yeah, oh back to the point you know again, you know if you got like a three thousand dollar account like you said you get bagged and you lose a thousand.

That's a third of your account and it's like i would. Rather, you know it and, and it's boring and it's safe, but i would rather you not be in it then lose a third of your account. I guess that was kind of what i and and - and that was the that was the dilemma i had at the end of the webinar, and i was bummed because i'm like man, i talked or i coached. I coached a lot of these people through ignoring this thing, and i know a lot of people are seeing dollar signs, but i go back to your 90 stat.

I feel like listen. This was this was a good, a good decision at the time, so uh just to be clear. The 90 start is like if they run on day one the the gap down and fail on day two. So sorry, but but anyway failed moves.

No! No! But there's there's been like next to no next to no more more and like, and obviously like. I say if uh, if the rpx hadn't happened yesterday, but it was just the perfect stone with vrpx happening yesterday and then yeah. So the beauty of erp experts like nothing see and that's that's a lesson for you for for the list. There's a list dude you know like like naov was like my number one watch yesterday and i was like this thing sucks i mean it was like it was all you know, and so it's like it's like when you're, when you're looking at just like nothing going On we that's those days that you get of the rpx, you know so yeah i mean, but anyway it's surprising.

How often that happens when there's like nothing and then all of a sudden there's just like this one degenerate play that goes wild, but like that's, why trading so hard right, because you've got to feel the energy and flow of the market? 100 percent yeah? I call it reading reading the room is what i call it yeah. Is that what it looks like yeah? You know it's like you know, there's an energy. You know it's like uh. You know it's like it's.

It's like, like. You can walk in a a bar, for instance, and it might you know one night it might be like you know it's it's like just there's no energy here you know it's like and then you go there. The next weekend. It's like man, it's off.

You know. It's like there there's and i don't know how to quantify that. But it's like i mean you know what i mean or you go to a party. It's like this is the lamest party.

Ever you know or or a sporting event you know and and there's an energy there and that i think just comes with experience and i can't really put it to words, but you can feel it. You know if you've been around enough. You can just like tell that that it's a good party or it's a bad party. You know yeah, i mean there's always good, there's always going to be a run.

I mean every day there's going to be some stock. That goes, but you can tell when it's a good party in a bad party yeah. No, but there's like an energy in the overall market and then there's an energy within a specific stock as well like, for example, neov yesterday dumped dumped. I was up like eight percent it dumped on us um, any ov, there's no energy in the market and the ticker had no energy in it.

It was crawling up. It was like struggling up so slow for a for a pretty low flow in stock. Too i mean i mean it's like 20 million float, but it was moving like a 200 million float. You know, but then you see pmcb and you're thinking.

I'm gon na have to take this pre-market because i'm going to miss it because it's lifting up on air and then yeah, but i get but again i think you know again. I i talk you know and we talked about this in the webinar. I i mean. Listen people join the steady trade team because they're new, so i you know, i mean that's why they're there i mean i mean you join a mentorship program because you're looking to learn, you know i mean i joke all the time i mean paul, tudor jones isn't Joining the steady trade team, okay he's been trading since the 70s, all right, but um, you know so i always caution people to be careful in pre-market.

But but i mean you heard me: i'd like freaking 12 shitty biotechs on watch it like 905 a.m. I'm like my biggest dilemma, was which one to focus on i mean you could tell there the you know: vrpx brought the party back. You know it was like everybody. I mean it's a summer wednesday, normally wednesday's worst day of the week in the summer.

That's why we record the podcast on wednesday. You know wednesday afternoons are typically deaf, you know and then you come in today and it's like, i couldn't even manage my watch list, but that's reading the room yeah. I know it's interesting because wednesday is normally a good short day for me and it must be because it's it's not not such a good long day for you well yeah. I mean i always tell you.

I talked about that. I always that that u-shaped volume - you know, i'm you know, and this is a recommendation to to the listener out there i mean um. I always say man if you can work your schedule, especially if you're new fridays and mondays man do 12 hour days on tuesday, wednesday, uh thursday. But if you can get the boss to let you trade monday morning and friday afternoon, particularly those i think, especially for like newer traders, are the best times and uh, and then you know wednesday, this kind of is it's kind of.

Like you know, everybody's fired up. You know after the weekend and everybody's kind of fired up going into the weekend you know, but do you know what i'd say that the one the one thing that i'd say is why you've made the right call with being cautious on on pmc base? The one thing that new people can't do what's the one thing that they can't do in the beginning, would you say you can take take profits? You know all losses yeah. Well, we have well well, but the reason i say take profits is one of the biggest new like like listen. You were selling on the way up on pncb, which again i compliment you now new traders.

They i mean, i know what they're doing they're looking at vrpx yesterday and they're like oh, this might go to 30 or 40 or you know you know, and and - and i think like like you i mean. Obviously taking losses. Is the number one people thing people just call it? They don't take them, they don't take them, but they turn. You know the biggest thing.

They turn winners into losers because they don't sell. I mean again, you know we talked down on the webinar, i mean i was like hey steven just sold into a one dollar rip. I mean you know this is a two dollar stock. He sold a one dollar rip, that's a smart exit! I'm like i don't care where this thing goes.

That's a good, sell and newbies. Don't do that because they see dollar signs. You know you've got to see the process, though you've got to see the process like what what like so, for example, you've got to think like what patterns are working and how much money am i making on them, and and what percentage am i taking so say You advise it reclaims view up, you take 10, it's about and how much money are they making over a month doing that it's not and here's the biggest thing. You know, i know i'm the kidness, i'm the king of interruptions, but this is again that's where that you know the - and i know you're not under the pdt, but it's like that's where the pdt trips people up, because they they you know they don't want to Take profits because they don't want to burn the day trades and it's like.

Ah i mean i we we we have like 75 episodes on the pdt, but that's one of the biggest frustrating things for me is you know, i know what they're doing they got. One trade left and they're like well. I want to hit a home run with this, because if i, when i close this trade, i'm done for three days, you know it's like ah drives. It drives me nuts.

No, but like the the other thing where i like we're very blessed to be not this month, but normally the market's so hot, like so hot, if you've been in a couple of years, there's gon na be four five, six, seven opportunities you might not hit them All you might not trade them all, but there's gon na be so if you're, not under pdt and you kind of know the patterns. It's very easy to be like that one's not working cut onto the next. It's very easy to do that, but if you're under pdt, it's like, i have to hold on to this, for it to work yeah exactly and if it doesn't i'm screwed. So i suck spin under pd work extra hours, save a little extra money.

Yeah! That's your view, build yourself over it or create your profitability or just put the money in well, i mean listen, i mean the reality. Is i mean? Listen, i'm not. You know 30 grand, that's a lot of money. You know, especially if you're young, it's a lot of money.

So what i the big and you know and and you're right, save money. You know you know, sell you don't need, you know, cut your costs, but ultimately you know it's going to take you a while. So what i say is - and we recently did an episode on paper trading - i say trade like you're, not under the pdt okay. Now that means, when you're out of trades, you go to paper trading, you get your trades back, you go back and, and you go back and forth and maybe it's frustrating and maybe it's annoying, but i think that that hybrid approach, because i want you to hear Everybody i want to read in the room.

I want you knowing what's going on and i don't want you and again. This is what drives me nuts about the pdt. I don't want you making decisions based on that stupid. Freaking rule.

You know i want you, you know again whatever your setup is. I want you trading that every time you see one and if it's real money awesome it's paper trading. You know it is what it is, but that that's the best advice i can give you because the problem is, i know a lot of people. You know they'll burn up their three day trades on monday, then they're.

Then they come back and i get it. But then they come back on friday, but then they haven't really been watching the market because they're like uh, i got no day trades and they don't know they don't know what vrpx did yesterday and stuff like that. So talking away i mean never gon na work like sucks, but at the absolute minimum at the absolute minimum, absolute minimum. You need to um have a watch list at the start of the day and go through it at the end of the day and say what did each stock do, which stock needs to be rolled over at the absolute minimum? Seeing like i did that you know like like for me, you know i didn't have to deal with the pdt um.

You know it was. It was around. I just had enough money, i didn't have to deal with it when i was learning but keep in mind. 2006.

2007. I had babies business. You know i a lot going on, so there were a lot of days. I couldn't trade, but i still did that.

Okay, i still you know, and i've told this story many times i always printed the i would print the chart in the morning because i want basically what i was trying to do is take a snapshot and i was like okay, then i would bring up the Chart in the afternoon and be like okay, what did this thing do? So that was my way of like paper trading, even though i wasn't paper trading, i was like okay again pmcb. My number one watch okay, but i got client calls. I can't you know. I can't be sitting there in a meeting with a client sitting there trying to trade.

You know which back then you didn't have the mobile apps anyway. It's not like. I sit there on the computer, but i'd be like okay. This is what i would do.

This is where i would enter, etc, etc. Then i get home at night i bring up the chart and i'm like okay, what did pmcb do today? Would it would it have hit my entry? Would it have stopped me? Would it have hit my goal? So that's again, and i want you doing that work and i just think you got to do it. It's not fun. I mean it's like you know, i get it it's funny, you're like well, it's not making me any money.

Why would why would i do that? I don't make me no money, but it's like you know. Ah dude. I think it's very fun like i'll um. I do too and see.

That's where i think i i love that you know i enjoyed doing that and i don't know you know it's like. If you don't like doing that, if, if you're not trying to figure it out, i don't know i don't know what you're in and you'll feel free to close the podcast right now. But i don't know what your odds of success are if you're not like, if you're not intellectually curious about it, and that goes for anything i mean listen if it's like, if you're, not intellectually curious about writing books, you know it's like what do you i mean You might have an idea, but you'll give up 10 pages in you know or in anything you know it's like nah, but you should uh the best that, like the because, obviously i had a i went red back to back red once i'm green this month, but I was backed about red monster and i took a loss, but um do you know what it is, though, because of that i started screen: recording everything and replete replaying in real time all of the stocks and the charts and all of the patterns and like i Was just like blown, i was just blown away by like things that i was saying that i've not seen before and even even for me. It's like saying things in a whole nother level again see like my advice, is screen record, don't like, because it's not as good to look at a chart when it's done, because the the pr the price action doesn't look the same.

When do you know if a big move happens in the afternoon, the consolidation before the big move, it doesn't look the same. It looks very thin right. Do you know what i mean? Well, that's because yeah i i i think it's i'm not. This shows my technical.

You know it's like it's like scaling of the chart or something yeah. It's like it's like yeah, yeah yeah, so but it's just um screen record watch it in real time and see exactly how and when, when the move happened. So that's my advice anyway. It's like you know, i always give, though you know i i tell that you know it's like i mean you think about like nfl game film.

You know it's like i mean, listen, you know tom brady, you know bill belichick, i mean listen. These guys. I mean they got families, they got, they got, they got millions of dollars, they got a mansion, they got beautiful wives, they got kids, they got cars and meanwhile they're sitting there at you know friday night watching film and it's like okay, you know yeah, you know It's like, oh, you know it's like hey. Why aren't they are, you know, having fun and stuff was like well they're, first of all, they're they're, passionate and obsessed, and they want to be the best and that's why they're watching film on friday night versus you know at the club spending you know, 100 grand On bottle service or something you know, it's like if there's a time for that, but you know not not when you got game day sunday, you know it's like he's so so that that i think that's the biggest thing that that you got to do that.

Hard work or you know, and and listen i'm there's guys out there gals out there that you know they. They just have an innate ability, but you know you're pr. That's probably not you. You know.

Sorry not me, you know it's not stephen, you know so, but the good news is the good news is is honestly like. Maybe you have to do like three four five hours in the early days, but you don't you don't. Even i think, if you want to get traded in over four years, you you really only need to do two hours a day, two hours a day every day for four years, but every day, every day, yes, every day for four straight years to not not not Not with netflix on in the back like not not like, like i'll just take the dog for a walk in between for half an hour like it needs to be like what do i want to find? What did i find? What am i going to look at tomorrow to further this? Do you know what i mean needs to be like that, and you know again: i've told that story a million times, but you know for me back to when i was getting started business little kids. You know i was that's when i first started getting up at 5 00 a.m, because i was like listen, i'm gon na spend.

You know 5 a.m to like 7 30 a.m. Doing exactly that, i never! You know i was never like a rolling wolf. I was never like 18 hours a day out: full disclosure, okay um, but one thing i did every single day: every saturday mornings, sunday mornings. I was up doing that work every sing, and i still today i mean i'm still up at 5am.

I'm still doing the same, you know so, but like even for me, though, i'm like i'll at least do like an hour at least an hour like before the market just see. What's going on see what i can learn see what i can pick up and a few hours on the weekend as well? So that's it. Do you think it's been eerie without kim it has it's a little different, it's just because i'm so used to her being there we're literally fighting we're fighting over each other by the way she's in south africa. Yes, i think yeah she's traveling, so so yeah, but i think i don't know.

I i get too many text messages that i believe yeah so sounds good. So what's new with you, i you know i'm 20 days into 75 hard. I i remember you. You called my you call my cat a homosexual.

You said i wasn't. You said i wasn't gon na. Not that there's anything wrong with that. That's my cat, spencer's very masculine.

I believe um, you. You say i can't make it a couple. You can't make it through 75 hard, i'm i'm roughly a third of the way through. I really didn't.

I really didn't know. If you would it's bad dude like like yesterday was bad or monday monday. I, like i, i mean i tell you what you hit the weights and then you regret it yeah and then and then rode in the afternoon and uh again, four two 45-minute workouts a day every single day but uh. I tell you: if you want to sleep man, it's gon na be like 8 15 man, it's like i'm like yeah.

No, i mean no, it's cool and and and keep keep grinding. Are you feeling like bad at mood and stuff? But i moved oh yeah. I tell you it's uh um, it's uh, it's interesting and and if you're wondering it's uh, you can uh zella um. Now, i'm forgetting his first name but 75.

Hearty months first form it's a book book's like 10 bucks but um. Basically the idea is it's. Just a test, it's a discipline test, but um, but it's all good stuff. Basically, you got to do some two workouts a day.

One of them has to be outside which i've had some hot days, but then i'll get into some cold days. You know because i'll be doing this through october and it'll be 10. Well, not 10, but it'll be 30 degrees out in michigan um you got to read every day you got to get a gallon of water. You got to take a progress picture.

Just you know. You get you got to stick to a diet now. One thing i do like is you just pick your diet? You know i mean, hopefully you don't pick. You don't pick like mcdonald's three times a day for your diet, but he's very flexible.

It's like hey, just pick a diet, and i just i just stuck with my you know very, very low carb. You know high protein low carb but um, but yeah it's a mentally. I tell you uh, i really like it. It's it's.

It's it's! It's it's fun! It's fun first, few days like day, four was bad man that volume of of working out. Like that i mean i was late day four, i woke up and it was like. I woke up and i thought both my arms were asleep. Oh yeah and i'm like, and you know, you're kind of you're waking up, scary, just sort of scary and i'm like.

Why are both my arms asleep? You know. Normally you sleep on one arm and it's like numb and then i'm like no and then i'm just like crawl literally crawling out of bed yeah, so yeah, but i think but but then you went on and did extra days though so you've already. I did it again like gogan says you, you push through the pain threshold and so a capacity that you didn't really know that you had right, that's kind of how it works. So i i highly recommend it.

You know again, it's fun and uh. You know it and it's just simple stuff, you know again and it's all good stuff. You know you should get a gallon of water, which the water is easy for me. I drink a i drink, two gallons of water i just automatically but and then just reading.

I mean it's just 10 pages of reading a day, but it's and and that's why the reason i brought it up is it's kind of the theme of this podcast. Is it's just a little bit every day you know read every day gallon of water a day work out every day. You know every day, 90 minutes a week out. It's pretty tough, that's a lot! Yeah 10 pages - i would say the 10 pages is like crazy.

For me, it's crazy i'll, take us off a day. I'll. Tell you tell me one one thing that i, what i've found and i'd be interested to hear your point on um. So when i did the like crazy fasts, do you know when i did the crazy fasts? I would find that i was like had a very high level of focus when i was trained had a very high level of focus at all times, um and then, when uh, you know keto right.

Oh yeah yeah again like like what i do, i'm i don't test, but i'm probably in ketosis a lot because, again, very very low carb i mean like no bread, you don't eat bread, yeah, no pasta! Very little like like again i we talked about this. A recent podcast like, like probably the only carbs i get or again like a like a tortilla shell. You know it's like i mean it's like and that's not like every day, but just every now and then type thing, but zero, bread, zero, sugar, etcetera, so yeah, because what? What was crazy for me right? So i did keto rice and um. I did keto without i thought when you went on keto or we talked about this.

I think you made fun of his when uh someone else made fun of us. When i went on keto. Oh, i didn't realize you had a calorie deficit to lose weight. I thought if you just went on keto, you just lost weight which is stupid.

Yeah i mean that's a yeah, i mean it's still calories. I mean it's like it's like. Listen, you can be in ketosis, but if you eat, if you eat 30 pounds of meat a day, you're not going to lose any weight, that's basically a lot of chicken wings like a lot of chicken wings and a lot of butter. But me mood me: mood was uh, like everything was like more stable, better um, less less bad thoughts, and then i was like i'm not losing weight, i'm coming off it and i fell straight back downhill and i just and it made us realize i was like.

I need to be on keto just for a way of life, not not for a diet i'll do i'm back on it now as a diet, but it's a way of life. These days see like for me, i've joked about like, like my weakness, is pizza. Okay, like it's like that's my kryptonite, okay and but but but i'll say this like. If i eat pizza dude, it's like i got, i got ta find a couch.

It's like i mean it's all over. It's like i'm. Just like you know, i'm like hey, i'm ready i'll be back in that you know it's like it's like shoot me with a tranquilizer yeah, it's nice again, like i said i don't do the test strips, but i got ta believe when i'm eating you know. You know eggs meat, a little bit of vegetables.

You know a lot of butter, you know again, i i just i. I basically follow a keto diet. I just don't stick around with the test strips i'm just like whatever you know yeah, you must be because it's like, if you're exercising all the time you'll, be able to have like 60 grams of carbs, and it sounds like you're getting nowhere in the other sounds Like exactly 20 25., except especially now with 75 hard, because i got ta believe you know again - i'm rowing, you know between lifting weights and then every day, i'm rowing at least 10k to get to that 45 minutes. Whatever carbs i get, i got ta believe are getting burned up, especially like in that rowing session, and i see girls learn some sicker apis.

Are you causing? No? No, yes, that that's part nope, that's part of 75 heart to zero alcohol. Oh yeah! I've done a month before it's not uh, yeah, so yeah. So again it's it's uh! You know it's i'm day, 19 and yeah. I haven't.

I haven't slipped on anything so yeah, so yeah ever. Do you ever feel like just having a piano and then just think? Like it's a warm day just first few days, um, you know you know again full disclosure, i i like beer, you know i, i posted that to my instagram i was like i was like the night before i had pizza and beer. That was my. That was my going away party, okay, um, but you know first three or four days now for me and then after that i just forgot about it and here's.

The thing is with that workload like your workload physically, it's like it got to the point where i mean, like i mean listen. If you drink a couple, beers and grow a 10k, it's all come at least for me. It's coming up man, it's like i'm freaking. So so it's like for me: zero temptation.

After the first few days you know so yeah whenever i did that ruined challenge yep, while the covet ruined it. Remember that was supposed to be last year, certainly not maybach and out. Is there a conference this year? We don't know what's going on. I don't think so because i mean remember, as far as i know, especially i mean romero was out.

It was traditionally september yeah here we're we're a month from september, but you know we got covered or delta variant and you know it's just i just it's not long guys, yeah yeah so, but i figured out that in canto america, if i go to mexico for Two weeks i swear, i have to go through mexico, would it be in america, but i can't go to america. I'm gon na come okay, so and you'd like right. You like hide in a suitcase to get across the border or what's the plan, it's just crazy. The one except anyone from england, but if you've been in mexico for two weeks, you can fly interesting from interesting.

I don't know it's like by that time. Corona is like not in your system or whatever do you know what i mean if you caught it from england and went to mexico for two weeks yeah? But what, if you catch it in mexico? Well, yeah! It's just right! It's absolutely ridiculous! So uh i'll i'll! This you one of one of my favorite movies. You have you watched, sakaro yeah, it's one of the greatest movies of all time. You've represented a lot of terrorism.

Outrageously, gods, as as you're telling me this you're, i'm you're, just like hey all i can do, is fly to mexico and get you and i'm like, like that's the entire plot of sacara, very good movie, dimitro del toro, very good actor, oh yeah yeah! Oh actually, i need to yeah again. I need to rewatch this yeah yeah, so it's probably made fun of nice all right. Well, um! Thank you, everyone. I think this was fun.

You know again, uh stephen and i love talking stocks. We had some fun and uh. You know it's just, i think really, the the summary is, you know, and i know this is the theme over hundreds of episodes, but just put in that daily work show up every day. Have that long mindset and even if that's just two hours a day.

Oh, you know again, i'm not saying you got ta print charts, i'm an old guy, but screenshot them screen record. You got all this technology like this, i mean maybe you've seen me on pre-market prep. I've got this big tablet. You know i draw, i mean you, can i mean, listen, do it with your ipad? Do it with your iphone? Whatever i mean, i mean there's so many, and then you save that save it to evernote, save it to your pictures, there's so many amazing tools and and just be you know that student of the game is what they call it.

You know, and i think that going back to like when he talked about tom brady here he is, you know, arguably the greatest ever and here we are, it's training camp he's, probably watching film right now. You know what what more? What more does he have to do prove to anybody, but he's probably you know on wednesday afternoon at two o'clock he's probably in the basement of some training facility, watching some crappy tape of a game from three years ago or something because he wants to be the Best so i fully agree, love it feel inspired. Can i just get your prediction on pmc on i'll give you mine just as a closing, just as if it breaks trying. If i say i know so, this is so again.

Let's recap august 18th. 2021. It's currently 2 23 p.m. It's at 8, 20, 8 and 20 cents.

V-App is 760.. If this breaks 850, i think it goes if it fails on 850. I think you got a good stop in the high seven, maybe 790s, okay.