What's up you guys? All right? Well, it's official we're closing down the office and I'm gonna be working from home for at least the next probably two weeks. So this is because the coronavirus in Berkshire County in Massachusetts where I live it's been. it's not been great. So we're having everyone work from home and actually last week I was working from home.

everyone was working from home I was still going into the office. but this week that's not going to work because some of the people that helped me around the house with my son they're in New York and they're under a shelter-in-place order. so I've got to be here so I can watch after him when I'm done trading. So I just picked up all of my trading stuff, my monitors, everything else in the back of the car and I'm gonna try to find a good place to work.

So this is good, you know I mean this is what a lot of folks are dealing with right now and you know all things considered. I'm really grateful that I can you know I mean I could just set up and train at home. It's not a big deal, um, it's just a matter of finding the right spot to do it. So let's kind of walk through here.

I've been sort of thinking about where where is the best spot to do this now while I walk around I'll do some AMA You guys if you want to post questions on the YouTube why, well answer them and you know we can. We can get some question answer about my trading and stuff like that. There's two puppies. So the first spot where I was thinking about setting up who's in here? um, this is kind of where I've set up in the past.

Unfortunately, it's also the kitchen. this area I think is gonna be prone to distraction I don't think I'll be able to actually work in here and get stuff, get stuff done. but I can get hardwired right here. So I want to make sure I can be somewhere where I can hardwire in? Come on girl! So what I think I'll do instead is set up across the way.

Come on girl! Typically when I work at home I'm working. that's the office. that's a little spot that I work in. but then you know I'm in the military and all of a sudden the door swings open dah dah dah dah and you know it's cute.

But I get I get a little agitated because when I'm training I need to be so focused I just can't it's just hard. it's just hard to have those distractions even with the dogs barking. drives me kind of nuts. So this is what I brought I did my three monitors here.

so these three and then my laptop and I've got some sticky notes here from the last few days so this one is what's your stop. Slow down this one is expect the surprise punch from behind. This one says watch, study, don't act and that's been partly because I keep getting myself drawn back into trades after I've hit my daily goal and this has been incredibly frustrating. This is actually it's happened four days in a row.

The interesting thing is on Monday last Monday almost a week ago I hit my daily goal and I was up about $6,000 and then I kept trading and then I was up seven thousand eight thousand and I stopped for a little while I took a break I came back, the president had a speech in the afternoon and I made another $3,000 So I finished up 11 grant and I was like I was like good for you man you stepped up to the plate, you came back, you traded the afternoon and you made some money. So then I did the same thing on Tuesday Wednesday Thursday and Friday and each one of those days you know I I just screwed it up and I think where I'm at right now and maybe some of you guys can relate to this. Over the last couple of, well, this month has been and has been hard for me. Funny enough, it's been hard for me since before the market really started tanking just because I had a really good month in February But then in the last two days I told myself that I was gonna try swing for a home run because I was like I'm up eighty-eight thousand dollars on the month.

this is my at that point I think it was one of my one of my top ten best months. So I was like you know what I'm gonna do here I'm gonna go for a hundred grand I'm gonna go for a six-figure $100,000 a month and I'm gonna crush it and so I started kind of getting that in my head that I was gonna do that and then in the last two days I lost 20 grand so I had a pretty big setback and I what happened was on the first day I lost 13 grand and on the second day I was like all right I'm gonna try to make that back real quick I don't know what they were doing with these. must have been a plumber or something. These are the plans from the house so this is kind of my problem when I'm trading really well.

when I'm trading it like my my best you know I'm having consecutive green day with green day after green day after green day. I'm usually doing pretty well and then as soon as I start to take some losses I start to get emotional I start to get frustrated I want to try to make back my loss as quickly as I can because the feeling of being red is terrible. the feeling of I just lost X amount of money you know it's it's not a good feeling. So because of that I start to get aggressive.

You know I want to just be back to all-time highs as quick as possible. and then that's when I start swinging kind of recklessly just trying to hit a big win. And so what ended up happening was I had six red days in a row which is the worst consecutive red streak that I've ever had I've never had six red days in a row and then over those six days I ended up losing about $40,000 So now all of a sudden I'm like the loss is getting bigger and bigger and bigger and I'm like okay, well you know now to get back to where I need to be I need to make more and more and more and more and so I start getting more and more and more aggressive and instead of taking those base hits when I have them I start. you know seriously now really swinging for homeruns and then a couple more strikeouts.

The next thing you know it's like okay, what I'm doing is not working anymore And what's really interesting is that when I'm the way I trade after one big loss is totally different from how I trade when I'm at like my all-time highs is that is that just me I mean how many you guys do that same thing we're after a big loss immediately you're in that my instead of I need to make it back you know, as as quick as I can and all of a sudden you start just flailing, you start jumping at anything that's moving alright I Saw a couple comments on YouTube last night someone was commenting on my video from Friday and they're like man I was up $500 and I didn't take the profit and I ended up finishing the day down I don't know like several thousand dollars and I was like I know I know that exact feeling I was like that's what I do how can I stop doing it? That's the question. what do I need to do to you know, get out of that habit. All right, yeah, that clock is an hour behind. Let's try some whites out of here.

So this is gonna be my workstation for the next couple weeks you know I I'm I I asked myself so many times I'm like alright, what do I need to do to stop this cycle? the big loss trying to bounce back as quickly as possible. So why am I trying to bounce back so fast? Why am I not just able to say okay I had a big loss that sucks. Maybe I was to aggressive, you know, whatever, Whatever. whatever.

but it happened just now for the you know next day. how can I just change that mindset? So I'm not trading from this place of feeling like I need to you know revenge, trade and over trade because sometimes I'm like okay well after a big red day maybe what I should do is I should the next day I should only trade with like 2,000 shares there 200 shares or whatever it is just to like really bring down the risk. So I don't start to snowball but then what happens is if I end up seeing a stock that goes totally crazy and I only took you know 200 shares of it I'm gonna be like god dang. if I had traded that with my regular share size I would have been able to make back a whole loss and then I feel FOMO and you know what I also can sometimes start to do is I will take a really big position of a stock because I'm trying to rebound and it goes up like 10 cents comes back to break-even and I get nervous and I'm like oh shoot then it comes back up and I get out for a small profit and then it does what I thought it would do and I'll get back in higher and then it comes back down and I stopped out and I'm like that's when I really start to get upset with myself because it's like you sold too soon, not because the stock told you to, but because you got in your head and you psych yourself out because you took too much share size because you're trying to swing for a homerun and then you stopped out.

you got out flat. It ends up doing exactly what you thought it would do. you feel FOMO you get back in high and that's a bad entry and then it comes back down and on a trade that you totally called out and you totally knew the setup. You managed to lose money.

The reason I like to talk about this stuff is because this is something that every trader goes through. I mean I Literally don't know a trader who doesn't go through this stuff manok in one way or another I know a couple of people that are a little bit more disciplined than me and a couple of people that are a little less aggressive than me and you know that's awesome. But I think that ultimately trading it kind of brings out that underlying aspect of your personality. and then for me I think it's the part that's competitive my inner critic who will say you know on a day where I lost on a stock that goes up 300% like you know you're such a you know, whatever.

whatever you're such a piece of whatever, you know you should go. you know you. just. it's that part of me that's like this is not acceptable stocks up 300% and you screwed it up because you were getting in your head.

and then when I start putting that competitive, aggressive, frustrated kind of energy on myself that just amplifies the super aggressive trading. So I was sort of thinking about okay, well where is it? Where is that turning point right? Where's that? Where's that spot? where I go from being like at my all-time highs and trading really really well and in control and having a couple red days, but nothing serious, just really super strong to that emotional place. you know, where is that tipping point I mean I don't know I'm still trying to figure it out because if I can figure it out and I can kind of dial in on that one spot, then I can pop up a red flag when I see that and be like okay, you need to slow down now I'm not sure if it's in this last cycle. What ended up happening was the last red cycle.

There were two stocks that were moving up really, really quickly. They were moving like way way way way up. They were just going crazy and I I was having a really good month and I was like I'm gonna I'm gonna step up to the plate here I think these are gonna go even higher and the bell rang. they dip down for a second I jumped in thinking that it was gonna red to green and surged up.

It was already extended and then it dropped and got halted going down and I was in both of them at the same time and I lost about 6,000 on each one. So when I look back at that trade, I can definitely say that okay that that was a extremely unusual set of circumstances to have them both halt going down if he was as CEO DX and apt the to both coronavirus stocks. So while that was unusual that that happened where I think I made my mistake was I chased it and instead of waiting for the stock to pull back to my entry and I just I just jumped it and I guess I I did that a little impulsively I've been on a nice hot streak and I just thought it was gonna go higher and I jumped in. So because of that, I'm thinking that if I can slow So since I'm looking at that and I'm like okay, what got me into this truck into this jam was an impulsive Fomo entry that totally screwed me up.

and then from that point forward it was hard for me to because the loss was so big it was just I was immediately off my center. So if I can go back to the moment before I took those two trades, what would I say to myself, what would you say to yourself if you're seeing these two stocks using up and we saw it on Friday Also I can't remember what stock it was, but there was one on Friday that was squeezing up as well and out of the gates. It was pretty choppy so I guess I would probably say if I could go back I would say wait for that good clean entry to come to you. It's strong, it's moving up quickly.

that's awesome. But where's your entry and what's your stop right? So you know that's kind of the thing the the what's what's your stop I think it's easy in these really active markets when things are volatile to start jumping on whatever's moving and kind of lose sight of the risk the risk factor on some of these. So then you know the problem for me of course is that have ended up having six red days in a row. then I had seven green days in a row.

a really nice green streak which is great but as soon as I had the first loss coming out of that green streak I immediately was like no, this is unacceptable. not okay I haven't made back the full $45,000 yet or whatever it was and I was I was just like I will do I will trade anything that's moving in order to not close today red So I was still in this really heightened kind of emotional state and I traded poorly I was too aggressive and ended up closing that date red This is gonna help us get through the rest of this setup. Come on girl! One thing that helps me more than almost anything else. It's kind of funny.

It's just getting out of my office. It's crazy how when I just sit and stare at the market I can convince myself to get back in and take another trade. So like one of the things I've been doing everything riding my bike and so I sit I sit here and my son sits on the front so we're able to ride around. I'm just getting out of the office for me has been been really important, but it's hard because I you know I keep as if I sit there and I keep watching the market I can convince myself to keep trading cuz I'll see something I'm back home.

you know that actually looks that actually looks good the overall overall market selling Donald Trump is coming on to do a White House hearing and stuff like that. Now for those you guys I see a couple you who are hating on me a little bit and I'll tell you this I am an aggressive trader. Being an aggressive trader is how I grew an account from $50,000 as from $500 to 50,000 in December It's how I grew an account from 583 dollars to over a million dollars. You don't do that being conservative, you do that being aggressive.

If you want to grow a small account, you know you you have to trade at the extremes. But when you traded the extremes, you're trading at peak volatility. What you might not expect is that it can bring out some emotions in yourself and so you need to be able to handle them to see them head-on and address them. And if you can, that's where you can become really successful.

And if you can't then you'll struggle now, even for me I would say the majority of the time I'm able to keep the emotions in check I'm able to trade really aggressively I'm able to have really big green days I can grow small, count very quickly. but the you know the other side of trading these stocks is that if you if they start going the wrong way and you don't cut your losses, you don't stick with the rules or you chase it. Then that's when you can get yourself into a you know a difficult situation where you have a big loss and then in the moment where you've just taken a big loss, how do you react. So some of you guys type here on YouTube How you react after you have a big loss, what's your first instant and then I'll share mine after you tell me what yours is Charlie says he cries, all right, buy more to try to get green, shut it down and walk away.

That's good Jacob Harrison says it's the cost of education Keith says he moves on Matt says he walks away, frees up. Okay, so frees up fight-or-flight right? We know that fight or flight or freeze. That's a that's such a like just hardwired instinct self shaming. Yep, that's that inner critic that comes out with me to throw the laptop across the room I was ready to throw my laptop out the window and jump out with it.

The only problem is I my office is on the ground floor so all that what happened was broken glass. Stay calm. Good for you man. Never make that mistake again and learn.

See, that's an interesting one because I'd like to say that that's possible, but trading law losses are not necessarily always the result of a mistake. Sometimes losses happen simply because you took a trade and it was. It was a red train, you know. So because they happened so frequently, there's not always an opportunity to be able to say oh, that was a mistake I can learn from sometimes it's just like, well, the market just smacked me in the face and there's nothing I can do.

So this is what I do this and this happens to me I can't tell you how many times it's happened to me I'll have a day where I'm let's say up for grant an in one trade. So $4,000 for me is a good day I have er about 1800 a day, just under 2,000 a day and that's been over the last. Well I have to check the averages for what period of time but around 1800 a day when I did the $583 to million dollar challenge. So if I have a loss where I have a day where I'm up $4,000 and then I lose it and I'm back to break even my first instinct the second I see something moving is to jump in.

It's instinctual. like the first, it's like a dog chasing a squirrel. The first stock I see popping up I'll jump in it. and oftentimes that trade will be impulsive.

It'll be poor risk management and usually it'll end up resulting in another boss. So I go from up you know from up 4,000 to break even and then in that second back-to-back trade now I'm down 2,000 and that's when. Now it's real slap in the face because I went from daily goal to red. So one of the rules that I've set for myself in the past to try to prevent that cycle from starting is that if I give back more than half of my daily goal I walk away, I just walk away.

So if I'm up 4,000 and I lose half of it, I walk away. And that means if I'm lose all quit or if I lose half of it or I lose even more than half of it I just walk away and that's it. Here's the problem for me: in the last two weeks: I haven't been able to walk away and I haven't been able to walk away because I have felt that the market has been so volatile that even though I just had a big loss because of the levels of volatility, there will be opportunities later in the day and that's true. There have been opportunities later in the day.

The the rule of walking the way is is not to punish you. It's not. It's not to say oh, because you had this loss now you're not gonna be able to trade all these other opportunities which may be great. The rule is in place because after that big loss, you're no longer going to be on your centre and at that point and from that point forward even the best opportunity most likely you're gonna screw it up.

One of the things that can be really tough about trading is the fact that you can get positive reinforcement for negative behaviors. so some days continue to trade, the rest of the day will reward you for whatever reason. you know the market on that day works and so it starts to train you that sometimes when I break that rule I walk away at the end of the day with more money. Hmm, so that's kind of confusing.

Is that rule actually a good rule of fact? I mean if I walk away with more money, it seems like that's a win. So much of how we perform we you know we are our self worth as a trader and maybe even as a person is tied to can be tied to our P&L on that day. So if you finish the day green you know you get a pat on the back. even if you broke your rules about max loss, even if you broke your rules about giving back X number of profit, even if you broke your rules about share size, if you finish the day green, all's well.

That ends well, right? That's what that saying basically means And so it can make it. that can. That's what makes it so hard to follow the rules sometimes is that you know you're like well man is today a day. It's worth the risk to break the rule because the way I feel right now is terrible I know that I will feel better if I have a winning trade and I finished the day green.

So is it worth it to take that risk? All right. You guys are talking about face touching not to wash my hands. So when I wash my hands I sing the Star-spangled banner I'm only one sentence in it's a three-and-a-half minute long song. my back's gangs tired.

Okay, we're on the other side of it now. All right. I Don't want to hear anything else about face touching. All right.

So see there. I go again. So it's you know it's back ever. And that's that's why that's why I'm called a day trade warrior because every day I'm coming into battle with the market.

and some days I win Some days I lose, but I come back every single day I Come back and you know I I Really love trading. It's it's incredible how trading forces you to kind of deal with these aspects of yourself that you might not have otherwise even knew existed. And I Really think that generally speaking and it can bring out. it can bring out the best in you.

It can bring out the worst in you also. and when the worst in you comes out, it's an opportunity to learn. Like okay. Wow, that surprised me.

I Just found out that if I have a really bad trade, I'll whip myself in the back with an HDMI cable I didn't expect that to happen. Your sting like you old son of a I'm gonna take you out behind the barn and you know it's just you. Don't expect this stuff and then all of a sudden it out It comes the experience of having huge wins and then having huge losses. It there's no way it's not.

You'd have to not be human to not have that. You know kind of push you to the edge. So my belief is that it's at the edge that you learn the most. and I think in my life, learning had a trade and learning to become more aware of my emotions has made me a better person.

Because you know there are times where you know life happens. You get a flat tire and all of a sudden you're You know you're on the side of the road, the cars broken down I remember this I remember this time I remember this so clearly so I had a Saab 9000 1995 Saab 9000 manual transmission turbo. really fun car and I had 225 thousand miles on it. So and I bought it for a thousand bucks.

so I was driving it and up in. Vermont You have to get your cars inspected right? A lot of states probably is the same now this car. There's no way it would pass inspection but I had heard rumors about this garage that was up in the middle of the I mean the middle of nowhere. but they would inspect pretty much anything.

As long as your lights worked and your horn beep, you'd get an inspection sticker. So I was trying to find this elusive garage and it was. It was mud season in Vermont and as I was driving up this mud road, the ruts were really really deep not going through these ruts and the all of a sudden the steering wheel started to like have sort of a mind of its own and do this weird kind of like type of thing and I was like that's weird I kept driving and then when I turn just to go up the next road the at the axle broke and the car went into neutral, couldn't wouldn't move and that was it and my ex-wife was with me and she was she was just you know Her reaction was you're such a piece of you know, look at you. why have we driving this old car? This was when I was learning how to day trade.

you know and why are we driving this whole you know piece of crap. Now now we're stranded out here. you know, on the side of the road we're probably gonna get murdered and and we had our dog. It was my dog really.

But we had my dog with us and and it was springtime. It was one of the first sunny days in May and I was this was my approach. I was like you know what, we're broken down. nothing's gonna change that.

we can either enjoy this day on the side of the road or we can fight. and I don't want to fight so let's just enjoy the day it's sunny. We now have to go for a walk. You know it's not what we planned on.

So we called tow truck and we we just started walking and we walked back and we ended up walking down to my mom's house. It was. It was maybe like two-and-a-half miles. Three miles I mean wasn't that big of a deal.

It was a great day. I Enjoyed it. she didn't say a word. We ended up getting divorced but but that's kind of that attitude.

So the whole learnings a trade thing. at that time it was like I've gotten punched in the face by the market so many times. this is no big deal. I can either enjoy this day or I can let it ruin me and I don't want to let it ruin me.

And so with trading, you know, bring that back to trading. you have a couple bad days of trading tomorrow. Monday morning I got to come in here and I'm gonna trade and although I am still red after this red streak that started like a few weeks ago I have to I'm gonna trade no matter what. So I don't have to bring that with me I can just leave that at the door I can come in here and I can just have a great day.

This is a nice space. it's quiet up here you know? I'll probably let June come up with me. She seems to be enjoying chewing on this bone here. We got a little Sun coming through the window so you know what tomorrow if I come in here.

What if I make just like 300 bucks 200 bucks. It's not a home run, but how would I feel pretty good? It's a green day so that's kind of my approach right now. That's that. I'm trying that that right there is being centered.

that right there is totally accepting my current reality and not trying to change it, just being okay with. this is where I'm at right now and it may not be where I would have wanted to be, but it's where I'm at and I'm gonna make the most of it. So I bet Um, you know just knowing that most beginner traders struggle that there's a good chance that you know half of you guys watching this right now. So if you're in that place of being red, I would encourage you as much as possible to try to come in each day.

Center and just try to take a couple of good trades someone mentioned Ross you're teaching your students to over trade and I I hear that feedback and rather than be defensive on and say you know I'm not. That may not be my intention, but perhaps it is the result. So I in here's I'm not gonna get into I'll plug in all these cables later. You guys don't need to watch me do this.

I'm not sure how I'm gonna set this up. This chandelier is kind of in the way I'll figure that out later. Um, so just hang out here with June so we'll be over trading. Here's something that I really struggle with I Feel like there is sometimes a a disconnect between doing what's best for my personal P&L and doing what's best for my students for instance.

So what's probably best for my students would be that every day I come in and take you know maybe three, four, or five trades. Some of my students who are more experienced would certainly appreciate me to trade eight, ten, fifteen times. Maybe some of those students would even appreciate if I trade it through the afternoon I find for my own PNL that I have a hard time trading in the afternoon because I often start to give back profit or I start to get too aggressive and so generally I won't trade in the afternoon. But so it's good for my students.

Usually is that I take a couple of trays I don't I don't over trade I don't I don't push my luck and you know just a couple trays each day. But then the problem is let's say I take three trades in one day I finished the day I'm up only 300 bucks. Well then on the other side I feel like from the PNL standpoint that I need to? you know I need to throw down bigger numbers that I need to have daily recaps where I'm doing five ten, fifteen thousand dollars you know every couple of days or whatever it is or that I made this amount last year and so I need to make sure I make more than that. Otherwise, you know I'm not.

Well, you know, why are people gonna want to keep listening to me? So that's kind of an interesting thing where sometimes I'm not and this is very unique to me. So for what it's worth to you and it may not be worth very much because I mean there's not a lot of people are going To be in the situation of having that dual role of being a teacher and being you know, a trader. But the challenge is what's really good for students is training lasts a couple of really good quality trades if you're green or red just calling it a day at that point and then what's required on those days that don't turn out well to catch up to your goals. in order to you know keep having your over year increases in profitability and stuff like that.

That's where you know things can. there can be a disconnect. Generally speaking, the the Goal: My goal of having a couple of good trades that's perfectly in line with the goal of being a good teacher, right? A couple of really good trades you know showing this is the setup. this is the entry.

this is the exit and when it works. Awesome! I'll be up five ten, fifteen thousand dollars in the first couple of you know first couple of trades and everyone's happy. It's on the days that in the first couple of trays I end up going red but then I feel like okay now I need to? you know because I'm trying to put together I don't know 25 day green streak or something like that I need to just keep trading to just try to get there so it I think for me, one of the challenges is that I have so many kind of things going on that it makes it hard to come in every morning and be fully 100% centered. and so I have to.

even as long as I've been trading, try extra extra hard to leave that stuff at the door and so when I come in I'm calm I'm cool. I'm collected. I'm not thinking about the sort of negative things that my inner critic of. Ross If you don't make more money than you made last year, you know you're you're you're not.

You're not worthy. You're not a good trader any more when the reality is anyone making more than anyone making money, if you're making money, you're doing well. If you're making fifty thousand, a higher thousand, Two hundred thousand, Five hundred thousand. Sometimes people will say, well, we're honest.

Look at this trader and especially in this market right now. This person took a trade on TV I Exit 300 and held the whole thing to 900 bucks. They made you know two million dollars why And then the question is, why are they so much better than you? Why is girl? Honestly, if you guys just say hello, don't show them your butt shut in the face and I think that that sometimes gets under my skin cuz it's like man, yeah, you're right. I've been trading for almost ten years.

the market just dropped 37% and I didn't make like a million dollars off of it I must be a real piece of garbage and that inner critic can come out. It's comparing. It's when you know you're comparing yourself to other people and then you're trying to compensate for it. I guess I must think pretty poorly myself in general because that comes out so quickly and so that's something that I have to deal with as a trader and I probably you know as a person as well, right? And so this just forces me to deal with something that if I didn't have to deal with it here with trading I would have had to deal with it at another point in my life.

It's that mindfulness is that presence of self and you know the ultimate is to get to a place in trading where you're like you're just like you know. it's like the Matrix. You know you can dodge the bullets, the you know the big losses, and you're able to just be totally focused. You don't carry in all that baggage of this and that and you just totally trade the market you're in.

Yeah, when I go back through this YouTube video I see that there's some. There's some spam bots on it. the I don't know what it is, but I'll just block those accounts so you guys can block them if you want or report on the for spam. So something that's kind of interesting I was talking with Ted We have one of the things that I have done for you guys I Have to trade I have a trading psychology team at Warrior Trading so I hired a counselor like a trading therapist to work with me when I was getting started and I actually hired him to help me as I was kind of going through that bad marriage and looking at potentially getting divorced and then what ended up happening was a lot of time.

We would talk about trading cuz I'm come in and I'd be like oh man I had such a bad day trading I'm so frustrated and and that was what was on the center of my mind. it wasn't the marriage. so we talked about it and and he helped me so much that I decided to offer him a position working at Warrior Trading and so he hosts Mindful Mondays and FOMO Fridays and those are sessions that mindful Monday to help you get centered before the trading week and then FOMO Friday usually to kind of like vent out the thing you screwed up and get yourself kind of in a place where you can let it go so you can enjoy a two-day weekend and then come back on Monday Sort of recharged. So one of the things that Ted has talked about, he said Roz you know, remember that that being a good trader, it's not like it's not exactly like learning to ride a bike that once you have it, you always have it.

It's It's more of a state of mind and there will be times where you'll be in the state of mind of I can be a really good trader I can trade really well I can be aggressive when it's time to be a grass Beckham ease off the pedal I'm in the flow state and then there will be times where even after 10 years, 20 years, 30 years of experience where you'll just you won't trade as well despite having the skill. despite knowing you know obviously how to execute order, some time in sales, you'll make poor quality decisions and that's been something that's really, really hard for me to grasp. I Think because trading is so tied to that financial freedom and that that ability to live you know life totally on your own terms. the thought that it's a state of mind that could get taken away is really scary.

On the other hand, it gives you the opportunity to really try to adopt the mindset of a profitable trader. And once you start to recognize that half the battle is mindset, when you get into that mindset, the skills will follow Because the skills of Trading I Mean let's be honest trading. What does it require in terms of skills? Give me, give me the equipment rundown, first, the equipment and they'll talk about the skills. So this is my trading station at home.

This is one that is not even. This is My traveling trading station is usually this laptop with two monitors on either side. So I've been training less, but this is the one at home. or I have it work usually and it's a nice setup.

So what? I've got here? One laptop, three monitors all in. It's probably you get a thousand-dollar laptop, three monitors, 300 bucks a span. So thirteen, Fourteen hundred dollars. All right.

You guys don't need an extra laptop for streaming to YouTube unless you're planning on streaming to YouTube So this is my YouTube streaming laptop. So I'll put that one over on the side. I should really put it on the right, the left side because that's where it usually is. But so you've got three hundred dollars of equipment and then skills, What do you need? You need to be able to understand.

You need to be able to use your hotkeys. Get in, get out quickly, right? You need a brokerage platform. All of that can be learned in time. Now, if you've never used a computer once in your life, it's going to take a little longer.

But if you're if you're comfortable with a computer, then it shouldn't take that long. Hey girl, what are you doing? There's nothing out there. so I Really believe for the most part that trading can be learned by by a lot of people. But what is not as easy to learn is that mental state of mind.

So I would say that I I Also laid between being in the state of mind of I'm a really successful trader I make a lot of my trading I can do really well and then entering the state of mind of a trader who can be fearful, emotionally impulsive, and so I think my battle right now with my kind of warrior the date-rape warrior is to try to get myself to a place where I'm spending more of my time I'm not even going to set the expectation I'm spending all of my time, but that I'm spending more of my time in that mindset of confident of confident, grounded, and detached from all of the sort of secondary things that come with having a day where maybe you lose money or oh, or even a week where you lose money. It's a it's a funny thing sometimes I'll talk to beginner traders and they're like oh man, you know I I had this loss but I'm gonna learn from it. it's never gonna happen again and I'm like, well, never gonna happen again I wish I could I wish I could say that that's true, but you will have losses. There is no such thing as a strategy that is successful 100% of the time.

And you know what's interesting is a lot of traders are looking for that. So what I would say is those are traders looking for the Holy Grail So how many of you guys are a traitor that's been looking for the Holy Grail Maybe the perfect set of technical indicators. a little bit of RSI a little MACD a little bit of a you know, an oscillator, maybe a couple moving averages and when these all cross, that is the place to buy. So I see me, Me: Ronnie says they don't exist.

Mike says not anymore Chuy says me I was that traitor for a long time I was I was so afraid of losing money that I was willing to spend months and months and months all night poring over charts. I put on indicator and I'd look back in the back. Oh my God. it worked there and there and there.

Those were great trades and then I put it on my chart and start using it and then that's I You know I'd have a couple losses and I'd get Tim it and I'd be like I'll shoot. Okay, it doesn't work well. maybe maybe I just need to add one more thing and next thing I know I go from having clean, simple charts having charge that are super super busy and even in the last three weeks, you've probably seen my charts. I've got a little busier because I add some indicators back on because I was like, well, maybe this will help me stay out of some of those losers.

It's a really tough mindset to break because there is no Holy Grail indicator. it doesn't exist. So my best training is when my charts are stripped down: I have candlesticks I have volume bars I have moving averages the 9, the 20, and the 200 and that's it. That's it.

Nothing else. I Keep it simple now. I do have the Taz resistance lines on right now I'll probably keep those on through in this week because I Think that they help students maybe more than me see the breakout spots, but you got to keep it simple. So then that unfortunately forces you to do the hard work of actually learning a strategy, but that's the only way you'll succeed.

You can't depend on an indicator to give you buy sell signals you need a strategy and when I start to really focus in on that and I started to really study the patterns the first one minute candle to make a new high. the flattop breakout. The flattop breakdown: You can trade those patterns on the Sp500. you can trade them on small caps you can trade them on Amazon Tesla Netflix They're really strong patterns and they work well because so many other traders recognize them too.

So you know that's in terms of the actual strategy. That's where the rubber really meets the road. But you know it takes time and that's the thing that some people don't want is they don't want to spend the time required to really learn that strategy to learn how to see those patterns as they're forming. But once you start to see them, it is kind of like learning to read music where all of a sudden what initially was just just meaningless.

All of a sudden, you start to recognize these familiar patterns. So one of the things I really encourage you guys to do is you know you can watch my recaps or whatever it is. Take a couple screenshots of some of those picture-perfect setups, print them out, and start putting them on the wall around where you're trading. So while you're trading, you can kind of look back at pictures thats picture perfect.

That's picture perfect. And what am I seeing right now Is this? it's the same. This is the time and of course Ross is talking about it. He's seeing it too.

Okay, this is the setup. Or when it's not picture-perfect you're able to talk yourself out of the trade. You can say you know what. This isn't quite right I wish it was because I'd love to make money today, but it's not right.

so I'm gonna I'm gonna ease off of that. That's something that helped me so much when I was just at the very beginning of learning to recognize patterns in the market because that's what it is. It's patters and yes, there are some patterns with some indicators that you can learn to recognize, but why recognise them on indicators when you can just go straight to the charts, right? Because either way, you have to recognize the patterns. We're not automating trade and we're not doing.

you know Robo trading it's that's not. You know, that's just not how how it works for us. So can I answer any questions? Let me do a little. Q&A here see EMI I'll take a look at it as I recall from looking at it last week I think the float on it or the I I just didn't strike me as one that was really moving as much as I thought yeah, this is my real hair yeah Chris Yep, this is the real stuff.

Best way to cut the losses. So there's a couple ways you can go about it. One way would be to use an actual stop-loss order. Alright bye girl, see you just going outside.

she's got nowhere to go out there really So one would be like I said you stop orders. another would be to tell yourself before you get into the trade this is the max loss and then you have to. you have to actually execute that I Don't like using trailing stops and the reason is you almost always get stopped out when the stock is dropping and then you get slippage. To the downside: hardest decision during trading.

I Would say the hardest decision is when to press that sell button. The buy button for me is a very easy one to press. It's a sell button that can be a little trickier. TAC Oh I'll have to look at the chart tomorrow I'll check it out in the morning.

My family is good. You know we're we're hunkered down. we you know, we got a bunch of food and stuff like that. so we're good shape just to kind of ride this thing out here.

Um I think I you know I hope so. Hopefully we can all stay healthy. So my opinion on Robo trading is that it? I don't think it's on I honestly don't think it's I've never heard of anyone that's done it profitably. So I don't know Ryan So video of me telling my full story, becoming a traitor? yeah I can I can definitely do that.

Maybe what? I'll do? Let me pop on here. let me see if I can jump on I don't know if I can access this live feed from my computer, but let's see if I can because if I can I'll give you a link because that would be that's a great idea. Um I do have a link where I can give you my full kind of a a little bit more of a expanded mmm looks like I don't have. So today at 1:00 p.m.

that we will have a webinar. It's a replay of the webinar that I hosted just a little while ago, but you guys are welcome to attend it. I will be in the chat feed so I'll be able to monitor, moderate the chat and and type for you guys you know, answer questions and stuff like that and so let me give you the link hang out I'm gonna just jump out of I'm gonna jump out of this and then jump back in with the link and then let's see what I'm just make sure I can type it. um actually I don't know.

Hang on. let me just try something I don't know if YouTube's gonna let me do that webinar. So go to Just go to Webinar Dot Warrior Trading Comm and then you can register there because at the beginning of that webinar I give you my full my full backstory. So just yeah, try doing that.

That should get you there actually I Think it's sorry it's webinar or a Webinar Warrior Trading Comm slash sign up. That's that's the that's the URL that's the one you want to go to. that's the one that I'll be moderating. The other one is just an instant replay which you could watch as well if you prefer.

But all right, so do I ever swing trade? No I don't you know? the problem for me is not that I don't like the idea of swing trading. The problem is that I keep feeling like then if I'm in a swing trade, that's not going well I'm gonna take that out on my day trading. You know this is one of these things I know myself and unfortunately I know that I can get myself into some trouble. So I mean this is my access my internet access point right here.

I need to have to get a hardwired cable from there to over there. So let's go. Let's see: 1 2, 3, 4, 5, 6, 7, 8, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20 So I'm thinking about I need to get a 20-foot Ethernet cord. This one is long.

Is it 20 feet long? Let's try it. When what broker did I use when I was on vacation in Italy when I was on vacation in Italy I mean I you can you I you can use. You don't have to use a different broker just cuz you're on vacation I I don't remember which account I was trading in at the time, but I'm pretty sure it was just my regular light speed account you. so you can trade from literally anywhere in the world.

The only thing that can be an issue is if you're not a resident of the United States Some brokers you know will give you a hard time, but light speed doesn't? They accept international customers so I got a little rat's nest here. All right. I'm gonna keep doing questions answer Q&A for you guys. By the way, those of you guys who haven't checked out some of my videos on the small account challenge, you definitely should do that I Hope you guys are all subscribed to the channel.

If you're not, you know, please hit that subscribe button and don't be afraid to tell a couple of your friends. I Mean if you enjoy the content, if you enjoy the videos, I Really make an effort of putting out a lot of good videos for you guys, you know I'm a flute I I Have my classes for my students and that's where I keep kind of the very best stuff I You know for my students I have to do that. but for YouTube I Do try to put a lot of good stuff out here for you guys. and if it encourages you to take the leap and join the classes, you know, obviously I'd love that.

All right there we go. We got 20 feet so I'm gonna have to get a I'm gonna have to get a little um, little switchboard here. Alright, well I'll do that. We'll go back to the office later.

Okay, so that's there I also have to get an extension cord or AM power strip I forgot to bring that home. Thank you for saying that I I See your comment there this limb. Thank you! Alright, let me scroll up and check out some more questions here. I'm resting my phone on the computer so if the fan kicks on, just let me know if you can't hear me very well.

Okay, so Adam what are my settings on my hotkeys based on? So my hotkey settings are I have a number of hotkeys that I use. The one that I actually took off right now is my a hockey so the hockey shift one I disabled it because I felt that it was encouraging me to be too impulsive. just a press shift. Want to get into a trade like that? So I took that off my keyboard.

but I still have hotkeys for selling I have a hot key to sell on the ask half full size, half size and quarter size of my existing position and then I have those same orders to sell on the bit and I also have an order to put out a stop at breakeven and a stop down I think it's 15 cents. What do I think about Trade Zero. So I know I've worked with the guys who run Trade Zero. We do have a broker rebate program with them.

The broker rebate program gives you Commission discount. Trade Zero is mostly commissioned free, but there's some instances where it's not commission free and so the rebate program gives you a discount there. We also have broker rebate programs with Cmeg and with Lightspeed So students who are part of our warrior pro classes get a discounted commissions. So what do I do when I'm in a stock with a huge spread and I can't sell on the ask? Ok so that actually happened this week and what I tried doing and it didn't work but I tried doing it anyways was I put an order and I actually put an order in between the spread so I had to manually type it but it was like a $0.50 spread.

so I was like I'm just gonna throw an order in the middle and you know maybe it'll fill and sometimes it will and sometimes it won't If there's a buyer, sometimes it'll match the order and you'll jump out. So Braden says trade 0 is rarely commissioned free. From his experience, that's really interesting. That's good to know.

My understanding is that it is Commission free when you use limit orders that are not marketable but not not totally clear. Be Lph yeah, we traded that one on Friday I made a little money on it over traded it a little bit though. So Patrick am I gonna fund my Cmeg account and do another small count challenge I have been thinking about when I to do that I think I'm sure that I will at some point I'm not sure I'm not sure when right now I guess I kind of want to get my you know it's kind of tough thing because I feel like I need to get my PNL to sort of a certain place in the year before I feel comfortable doing like a small count challenge just because you know people will look at my annual PNL and if I'm if they're like well wow that's a lot less Well yeah cuz I was doing the small count challenge but they don't They might not hear that, they just see what it's less than usual then they'll no wonder. So that's that's that challenge that I have a little bit.

but maybe I'll mean maybe I will do it at some point here and just say you know if someone really has a problem with that, they're they're not a good one. Maybe I've been a good student. Anyways, for me, let's see those of you guys who do register to the webinar like I said, it's webinar Warrior Training comm slash sign up during the webinar. come on girl, come on in.

I'll give a special link so you guys could join the classes if you want to. and one of the things that I do is I only put that link in the webinar because it's a it's a really it's it's a really nice discount and it's a package of all my classes plus the chatroom plus the simulator and for everything else and I put it there because I don't want sort of the general public to see it because it's such a nice is such a nice package. but I put it there for people that like you guys who watch an hour in and you're like ok I'm into this I want to keep learning I want to make this happen you guys I'm willing to give you a really you know good discount on the classes so you can get into the classes and you know, hopefully become one of my next success stories. So I'll pay it forward for you guys.

the link will be in the webinar. Yeah, that pressure that I have. it's unique to me. it's it's a it's a self created thing because of being a teacher in this space I Love teaching, but it it there is that pressure there.

All right. So let me see. let me look at some other questions. Um, what's your average increase in a TV MA TV account with only three trades a week? So Keith was my TD Ameritrade account I wasn't I wasn't doing a margin account where I could only take three trades I was doing a cash-only account so I could trade as much as I wanted to.

but I had to wait two days for every trade to settle and so because of that and Rocky I see your question I'll answer it in a second. So because of that I was I was trading sometimes more sometimes less a week. I was averaging about $150 a day during the period that I was trading in it. So Rocky pros and cons of market access trading.

So I use direct access routing which means I can send my orders directly to the exchange. They don't go through like the TD Ameritrade server whatever. before going to exchange, they go right to the exchange. and I you know that's why I use Lightspeed as my broker orders are almost instantaneous.

You love it. The downside is that you pay for it and so you know that's kind of a challenge because you know you end up having to spend a fair amount of money on Ecn fees. So the Ecn fees are point zero zero two per share. so that's for a ten thousand share order.

it's gonna cost you an extra twenty bucks. which is you know it is kind of I mean it's not nothing but I think I still think it's worth so that's my two cents on it. Alright so this thing this I use for when I screen capture so I messed it up a couple other things here: Best place to get breaking news on stocks. So for breaking news on stocks I Been Zynga has is great I like been Zynga I will sometimes use the Been Zynga pro squad but I usually don't The software that I use which is called light sorry East signal that has a news feed built into it so since the news feed is built in I'm able to get and see the breaking news headlines.

Our chat room also has a proprietary news desk that posts news headlines so you know not to like sell you on the chat room because do whatever you want. But if you're in the chat room you would know the news on most stocks just because of the combination of the news desk and be actually calling out and saying hey, this stock has news I'm interested in So on my last trip to California as I was driving to the airport I was like I was like oh my god I forgot my laptop charger and it was like well this sucks because at 5:30 in the morning when I'm waking up in California there's no way that I'm gonna find a store where I can get a laptop charger. this is not gonna happen and I was running late to the airport I was going to JFK and you know outside New York City and that Airport can be. there can be a lot of traffic there so I'm driving and I'm like wow this I don't know what I'm gonna do I was like how much how long can I trade just on the battery of my laptop before it runs out and as I'm thinking about that I saw right off the highway the red and white sign of a Staples and I was like yes staples and I pulled over I got off on that exit I pulled in Bryden my laptop and they gave me a I bought but they have a universal charger and my and the next day I was able to trade which was fantastic.

All right So let's see um did you do Renee How much money can you actually make if you're able if you're able to get to my level? Well I can tell you how much I made last year last year I made around three hundred and sixty thousand dollars. My broker statement is on the website the year before I made five hundred grand, the year before that I made three hundred and thirty five thousand and the year before that I made two hundred and twenty-six thousand. So those are the last four years those statements are on the website. Again, my results are not typical I can't say that they are and I don't know what results really are typical.

It's hard to know and really dial in what is the typical result for for any student. We don't actively track. We're not able to track the success of our students. You know, students trade at various brokers.

We don't know how much they may come at Toulouse We don't know whether they took all the classes, attended the classes, etc. etc. There's so many variables, so I you can see on Warrior Trading comm. we highlight some of our success students success stories and there are some students who have done really really well.

and I'm sure there's been students that struggle as well. So at the end of the day, the endeavor to become a trader. It's not one that you can jump on without knowing that you're You know you're jumping into something pretty big and it can be. Certainly, at first you know scary and overwhelming and there's a chance that you won't make money.

However, I hope that out of the experience of wanting to trade, at the very very least, you walk away feeling like you really learned something about yourself and about the markets that you can use for the rest of your life. Do I pay much So my income tax I'm trading and I've been trading in a retirement account which is awesome because there's no income tax so no income tax on my retirement account on my main trading account. I Do pay income tax. I'm at the top income tax bracket.

so I think that's 39 percent for federal and then another six percent for state of Massachusetts Come on girl, come on in again. You know with the way brackets work, you don't pay. You know you pay up to the next bracket, then up to the next bracket, then up to the next bracket. So it's not forty percent on.

you know, five hundred grand. But but it is. The taxes are there. and this is kind of one of those things that I've sort of thought about taxes.

I'm like, you know if I'm I mean you can say what you want about taxes being too high or too low. but if you're paying tax, it's because you're making money. So if you're making fifty thousand dollars a year, well, your income tax bracket is gonna be a lot lower than someone making five hundred grand or someone making five million. you know? So it's if you're making five million a year, you're gonna pay tax on it.

And good for you for making five million a year. But yeah. so I trade in a retirement account with Lightspeed which is nice and you a lot of people can. You can trade sometimes in your 401k or an IRA account depending on where you have it set up.

but my IR my 401k has a restriction that I can date I can date trade in it but I can only use Charles Schwab So I'm actually petitioning them to change that because I don't eat shellfish Wahb But I don't know how far I'll go. Obviously day trading in a 401k is is risky, you know, and like trading in general is not for the faint of heart, you know? I really like the kombucha. it's it really is a nice one. Okay I can't take that one.

Yeah man. I wish I had another. You know what? I might have one downstairs. let's go check.

I'm looking a surge protector to plug in all those monitors. All right girl. Okay, let's see. So you guys have seen me do some episodes down here.

Sometimes I do an episode driving around in the Gator I've done a couple I did one on a lawnmower. This thing you can you can rip on this thing. It's like top speed is almost twenty miles an hour. Here we go.

Alright, well this isn't so let's see. So this is kind of testing. so I throw this in the pond and it helps with the algae growth and then you know it also helps with the algae growth in the pond is having lily pads on it. So these lily pads are right here getting started early so we can put them out in the Sun and in the pond sooner so we don't have as much of an issue with algae.

Oops come on girl, here, you want to go that way. Alright, go on girl, see ya here we go. So let's see next question. Like I said now that I'm on now that I'm on lockdown, you guys are gonna get a little more of my time.

Um, let's see I don't have any plans to come to Hungary Um I Had wanted to go to Spain this summer last so last summer I would spent three weeks in Italy which was one. she's just this look at this dog. so I just like her at the other door and now she's right here. She's like hey, can you let me in so I wanted to go to Spain Roberto is in Spain right now and I thought that would be fun to go spend some time with Roberto in Spain but he's on what he's in quarantine lockdown so I won't be able to go there obviously for a little while.

I'd be kind of nervous about leaving the country right now because you know I don't know if they'd let you back in I don't know how how serious it's gonna get with that type of thing. So for the time being I am in the Berkshires and yeah, that's about it. Although I was thinking about doing a series of classes through this period of time just because I know so many of so many you guys are locked kind of, you know, cooped up in the house. So maybe it would be a good time to host some classes for folks.

But I haven't scheduled anything yet? Come on girl, have I thought about moving to Florida Um, well cuz no income tax I mean that's I've assumed that's why you mentioned it. So yeah, it would save me the 6% Massachusetts income tax. Here's the thing. Yes, we thought about it.

and basically at this point, I'm and the weather. yeah the weather. it's nice to you at this point right now I'm willing to pay that 6% income tax to be close to my mom and close to my sister and you know, my dad's brother and you know that's that's a decision that we've kind of made and on my wife's side to be close to her family as well. So you know at some point maybe we'll I mean I really enjoy being in Miami This past December when we hosted our Inner Circle conference, I was like first of all Miami's beautiful.

It was my first time really spending time there. we were in South Beach and you know I I did enjoy it a lot but I guess I worried a little bit about the Hurricanes down there and the the flight the JetBlue flight was like I was garbage I was like you know hi I've I've gotten to a place where I fly you know I usually fly Delta first class but it was JetBlue non-stop from Bradley and it was like riding on a school bus. I had forgotten how bad flying can be. so yeah, that was terrible I don't know.

but so maybe if I can find a direct flight of direct Delta flight I just having to drive to JFK is two hours, two and a half hours. so I really want to do that I don't know, no hard decisions right now but Mic is down there and when I was down there was nice to visit with him. You know it's a beautiful, it is beautiful and I got a white linen suit specifically for the trip to Miami and I don't get to wear it up here so I really should probably go down there a little bit more often. We actually thought about going down I wanted to go to the Palm Beach Sotheby's auction which is happening this weekend because I'm a big car guy.

A lot of you guys know this. I'm you know I'm a car guy. can't help it, don't have to justify it. and so Sotheby's you know they have the the car shows where it's the auction.

you know all the cars are there and it's beautiful Girl: you're seriously, you're a mess. you're a hot mess girl. you're gonna I'm gonna put you outside and we'll come right back in. remember cuz that's what you did before there's gonna leave the door open but they they cancelled it.

So it's an online auction only. Um, which so you know it's cool. look at the cars online but I really want to seem in person but then