All right, good evening, everyone. Welcome back! Um I'm on the road so I'm kind of gonna do a hybrid of the uh, you know, the phone plus the computer. so um, you know normally when I'm at home got all the screens and everything but uh, you know to read the chat. By the way, we got an after hours Runner uh breaking news on Mgol so I wanted to watch for tomorrow.

um oops whoops whoops. What? I do. sorry about that noise. it's the Bellagio fountain if that noise is loud.

um hey, I was wondering about the swing trade Master Class it's in the university. the course doesn't have any steps yet. so yeah. so for all of you that are, uh, taking advantage of the swing trade uh course.

so we've had. basically we're we're building it out right now. so the First Alert was AI many of you know about AI did really well on that. um I think the entry was at 29.

it went to 44. um the goal was 35, went like 10 bucks past the goal and then uh pltr which is, uh, you know it broke the signal. Great day today on Palanter. Struggling a little bit this afternoon, but a lot of stuff was pretty shaky today, but still above the stop and then Apple um again, not really initiated yet.

but those were the last three ideas from the swing Trade strategy sessions and so watch those. Okay, because what I did with those three Monday night sessions is I kind of started out you know, very uh, fairy beginner where where I was like and then each webinar built on top of the last. So we went from you know, basically very new to then built on built on and then the master class I'm working on right now. that should be up there man.

I Want to say a week? but you know it's kind of busy lately, but soon soon the master class will be on there. but take advantage of those three sessions and then remember every Monday night I do that. so this Monday night will be there. Live again.

Going through that process. um but the master class is coming. uh Ken says the psychological battle I faces this I will be in a stock that hits my entry, goes up but never hits the goal and then failing and hitting my stop loss. Um, it keeps me saying kind of a long question.

So the the biggest answer. so Ken um, one of the ways that we manage risk after entering a trade is the five minute candle Theory Okay I don't know why I named it Theory but that that's the name I went with. So basically the idea is this is a way to capture as much profit as possible if the stock does not hit the goal. Okay and what what it is is basically and actually I think there's a few YouTube videos and if you're in the steady Trade team, there's a there's one of the most watched webinars specifically focuses on the Five Minute candle Theory But where we use that is is stocks these big Runners that again they hit the signal they run up and then they start struggling to push through to the next level.

And the reason and basically to boil it down is a red Five Minute Candle is now. this will get you. It's always a double-edged sword letting your winners run and taking fast profits. Now in in it's the dichotomy like like this is one of the things that that so many people struggle with and everyone struggles with every day.

Is you know just that idea of quick take quick profits. You know like Hoth yesterday that buy-in pre-selling pre um at 308 on Hoth yesterday morning and it was like 3, 30, 3, 40 and I'm like guys we're going in the market open probably best to take profits. it ended up going to four but the reason we use that idea is I mean these stocks move up fast and they move down fast and and I'll get back to the Five Minute candle Theory Let me explain this like especially newer Traders Like you have to understand that that that volatility is what gives us the ability to make you know 20, 30, 40, 50, 100, 200 percent in a day but there is no yo volatility Cuts both ways you know like like you can't have your cake and eat it too. Okay so you have to understand that like, if you're sitting on a nice profit, twenty percent, thirty percent, forty percent and you start getting that feeling like man, the Stock's not going like I thought and you take profits and then the stock Rockets higher.

You're responding to something not to get into the crystals in the Patchouli oil. but the Universe I mean and a lot of this comes with watching price action. Okay, I get that you want to capture every cent of the move. Okay, if a stock goes from three dollars to 401, you want to buy it free and sell it 401 Okay, but a lot of it revolves around just interpreting the price action and recognizing that this stock went vertical and it's not going vertical anymore.

It's slowing down. It's butting up against a whole dollar half dollar, or a previous day's highs or an oracle level or a moving average or a Bollinger band. Okay, okay, whatever technical indicator you use and that's I think so many people actually see that like like was it Ken Ken I'm curious. Have there been times when you're in this stock and you're up small and it's kind of sitting there and it won't go, it just won't And and I'm curious and I mean I'm answering Ken's question but it's kind of for all of you like Can has it was.

Was it crossing your mind that you're like man I don't know. this feels different and I know when I say feels I always make the same crystals in Patchouli oil joke. But a lot of price, action and is is based on your experience and things you've seen before that maybe you can't necessarily put to words or write down and you're just like Man I don't know and that is a signal. Okay, that's a signal that.

Okay, my goal was four bucks but it's at 360 and it just won't go and it just won't go and it perks and it drops. perks and it drops. perks and it drops and you're like man, it's like why won't you go so that is something that is built really over time. All right I'm gonna drop a read for tomorrow and then we'll move on.

Evidently everybody maybe I answer all the questions I don't know. So anyway for tomorrow uh mvis uh had much higher expectations for this into the close but um did Squeeze up back over eight and a little bit? uh I've really thought this could get squeezy and after hours but um, you know, a big run again. Whoops. Oh slack.

so sorry. did I miss it? Ah okay now I see it. Okay, so oh okay, sorry Alex sorry guys I missed the questions Um I got all kinds of questions I didn't I didn't see all these. So I hear so many different meanings of this.

What's your interpretation on the difference between trading a strategy, a setup and a pattern? Okay, so good question. So when I think of a strategy. okay, um, that is more of like a swing trade strategy. Okay, so if you've been on any of those swing trade webinars, you know that there are about 10 to 15 distinct criteria that we look at and if those criteria are not met, then the stock doesn't fit the strategy.

It's an ignore. So a strategy to me is much more rules based and looking for very specific things in the market like when we look at dip and Rips Okay, which would be a pattern like a low float biotech with BS news is a pattern. Okay, that is a chart pattern and you could call it a setup I guess. But at the end of the day we know what every low float Biotech is going to do.

They're gonna Spike early and they're gonna fail and they're gonna fade away and then and then they'll do an offering and then they'll repeat it. You know, six months down the road. So strategy is a methodology and a process with a lot of criteria that allow you to only execute a trade. when those criteria are met.

the next is, um, a setup and a pattern. Okay, so a pattern is strictly chart based and price and volume based. A dipping rip a uh uh morning Panic Dip Buy and afternoon V-wap hold. A lot of these are really simply based on chart patterns.

One dollar breaks. Okay, we've seen so many recent biotechs they break a dollar. They predictive predictably Spike 20 Past that. Um, V-wap holes.

You know all of these are patterns that we can often kind of ignore the sector or ignore the news because we know there's pattern traders that focus on those so it's more simple. Like, like a pattern is just a chart pattern. That's all it is. And we know that when they hit these specific levels, they tend to spike and then a setup.

When I think of a setup, it is just and this is kind of vocabulary which which is awesome. But when I say setup that is a stock that is matching one of these systems. Okay, so it's kind of like branched out of that. So it could be a swing trade setup.

It could be a dip and rip setup. It could be a morning Panic dip eye setup: It could be a earnings winner setup. So basically setup is just breaking down or delineating what basket it fits into. Short Setup: Long Setup: Swing setup Dip and rip setup V-wap Hole setup Weak, open, ready, Green setup is Sdt planning and in person trading seminar? Yes, Frank Um, it just oh man.

So yes, so many times many times I've gotten very close to doing an in-person Meetup and what happens is just trying to get the logistics to fit into my schedule because so I think most of you know what I do. So what I do is you know all day long live trading webinars with with several different groups but every single day okay and I know a lot of people say that like like I know a lot of people are like oh you know, grind every day and uh uh no days off and you know and all that I live it okay I live grind every day, no days off literally every day For the last eight years I have done something to help the traders that I Mentor it could be a YouTube video, it could be a blog post. it could be four webinars a day. So what happens is we come close to kind of doing these in-person things and then I kind of get like a revolt from the people when I'm like well I'm gonna I'm gonna do this in-person event for three to four days so no webinars, no no live mentoring and then I get all this pushback and I'm like okay, whatever so it it'll happen.

but I don't know I'm trying. What do you think prevented Mvis from spiking? um you know it was great question. So Mvis had that morning and I'm gonna finish on this one. So Mvis was flat out Chris it was disappointing today.

um I really really thought I Really thought Envis had very very solid potential and based on price action okay, the fact that you know it's on your screen right now. The fact that this thing held above yesterday's highs all pre-market um which is also a 52, right? Yeah. 52-week High Um, shorts are trapped. Okay, so Mvis this morning was like you know a it was there and it spiked a buck a share at the open.

By the way, like the whole thesis on Mvis was heavily shorted trash stack. I mean Mvis is the worst. Okay, remember I'll say it like 16 times. Mvis is the worst.

This thing will end terribly. okay. Six six weeks from now where it'll probably be a one dollar stock. but that eight that that dollar Spike at the open was proof that shorts were on their toes.

Somebody panicked at the open. Now it ground all the way back to eight, only got to 820, but it's still. I Mean, look at where it's at right now. Look it.

look at where it's at, still in a 52-we high and it's still above yesterday's eyes. So what happened in my opinion? just like it, there wasn't enough Mania in Fomo and and chasing and and irrational exuberance like like the energy level today was very odd. Those of you in the steady Trade team know that like like today was a unique weather. Okay, if you're in the stage trade team, watch today.

I don't I can't recall the last time I struggled so hard to find the number one stock now I Think that's a little bit of some. it's a summer Wednesday Okay and that and listen. I'm not one of these guys that says selling may go away. Get out of here.

Okay, now flat out when we talk about summer, number One: If you hear anybody say selling may go away, get them out of your life. Never speak to them again. It's not Everything changed in 2016. you've heard me say that a billion times.

Everything changed in 2016. Summers have been very hot since If you traded a summer during the dark days of day trading like 2011, you Oh, God that oh, 2011, 2012, 2013. pain of just nothing happening. But with the seasons.

Okay, there's four seasons. If there's a foot race of four people, somebody's got to come in fourth, right? Okay, now it could be the four fastest people in the world. Eight billion people in the planet, Four fastest people in the world. Somebody's got to get fourth that summer.

Also, you've heard me talk about the u-shaped volatility if it's a foot race of five people. So Monday Tuesday Wednesday Thursday and Friday show up to the foot race. They could be the five fastest people in the world. But somebody's got to finish this the way it is.

somebody's got to be last. Unless you're one of these participation trophy morons, somebody's got to finish in fifth and it's Wednesday So today, summer Wednesday And like you may think of that and you may hear that answer and be like that's it. That's why Mvis didn't go wild today. It just wasn't like a hot crazy type day.

It wasn't It wasn't And and like I spent like two-thirds of that webinar this morning doing this. Seriously? I mean I could probably upload it to YouTube or something if you were on that webinar for 20 minutes. You saw me face palming because of the lack of volatility today. So now in summary: guess what stock is still at 52 weeks a week? Guess what sock is still green on the day? Guess what stock is still above yesterday's eyes? So I think Mvis can still do it? So all right my friends, have a good night.

Good question tonight. sorry I missed them. Thank you Alex for reminding me and uh, see you next week.