A Key Trading Mindset & The 50% Trading Rule #E41

Traders Of The Podcast

Podcast Overview

Episode 41 is here, and it's a special one with just me and Tom, packed with valuable insights in under an hour! We dive into detailed stock price action analysis for BCDA, PXMD, TPST, LIFW, and INVO. We also discuss how to hold onto your trading profits, manage drawdowns, and whether now is a good time to be a trader. Don't miss our take on AFRM's ascending wedge chart pattern and some key trading mindsets that can make a huge difference.

0:00 📈 Stock Price Action: BCDA, PXMD, TPST, LIFW, INVO
12:30 💸 Holding Onto Trading Profits | Trading Drawdowns
19:50 🤔 Is It A Good Time To Be A Trader
22:54 📊 AFRM Stock Ascending Wedge Chart Pattern
25:05 🧠 A Key Trading Mindset
29:15 ⏳ Trading After A Workday
33:10 ⌛ When To Trade Longer Hours
37:47 🗺️ Trading Gameplan Alex (Market Exposure & Focus)
43:15 📏 The 50% Trading Rule
46:15 🔍 AIRE Stock Analysis
48:10 🛑 Wrapping Up | TradeJournal.co

👉 https://youtu.be/KV5-vszhD0M 🎧

As always, we're incredibly grateful for your support. If you have any questions, suggestions, or feedback, please don't hesitate to reach out or leave a comment below the video. We're always here to help! 😊 Happy trading and stay tuned for more episodes!

#Love from the insiders ❤️

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Full Transcript

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Tommy Salerno: yeah. So might I mean, if it's just me and you, we can, we can keep it short. Then

00:00:07.040 --> 00:00:09.950 
Tommy Salerno: I was just looking at Vcba.

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Tommy Salerno: This thing, just it doesn't wanna make a decision. It's just like hanging right around VoIP,

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Tommy Salerno: and that's one

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Tommy Salerno: I caught a little bit of that first dip at the open. and then kind of scaled out from like between 1, 20 and like 1, 26,

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Tommy Salerno: and then it decided to go all the way up to 1 40 and halt up

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Tommy Salerno: once as soon as it all hold on holds. I'm like, okay. It could be a good nice dip in rep for like continuation, and completely fall through, and I lose like pretty much all the profits that I made on that first step

00:00:49.050 --> 00:00:50.470 
Tommy Salerno: went back to flat

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Alexander Winkler: and

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Tommy Salerno: usually, you know, after I take a big hit like that, I'm like, all right, I gotta size back down. But I kept the same size in the first on the resumption, the first dip below the 90

00:01:04.720 --> 00:01:06.040 
Tommy Salerno: on a resumption

00:01:06.230 --> 00:01:15.490 
Tommy Salerno: got a quick pop back up from 1 35 up to about 1 39, 1 40, and then I was able to kind of recoup my losses.

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Tommy Salerno: Back to Green. But that was it for me, and I was hoping you get some more action. Yeah. Xmd had that

00:01:24.070 --> 00:01:34.190 
Tommy Salerno: similar setup. Let me see if can I share my screen here. Yeah, you should always be able to. I finally figured out the settings. Let me share that

00:01:35.930 --> 00:01:42.850 
Alexander Winkler: holy crap. I didn't even really look at Pxmv much. So this is. This is what I've been reviewing.

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Tommy Salerno: I don't know if I can keep on recording, or just to me. You you can see my screen, though. Right? So this is the the setups that have been probably giving the biggest moves in the market last week. And then also today. Mpxmd.

00:01:57.130 --> 00:02:00.909 
which is that deadcat bounce set up so after it makes a big move.

00:02:01.420 --> 00:02:12.799 
Tommy Salerno: We're just fading to the lows, fading to the lows until at some point, you know, shorts have to take their profits, and once you see an influx of volume, then, you see, you know, shorts who are late to the game.

00:02:12.900 --> 00:02:26.810 
Tommy Salerno: they're cutting their losses if they're in a small loss or they're cutting break even, you know, any shorts that say, got in, you know, after the big run, maybe the second day, so their average may be around $4, maybe under a little under $4.

00:02:27.580 --> 00:02:35.290 
Tommy Salerno: So that is also adding to the volume on the day, and then you have bulls just jumping on the momentum with the volume coming in.

00:02:36.040 --> 00:02:37.880 
So all those 3

00:02:39.370 --> 00:02:44.830 
Tommy Salerno: kind of catalyst are driving the moves off the walls after you see a big.

00:02:45.090 --> 00:02:57.790 
Tommy Salerno: a big move in a stock, and a small cap stock that fades from all the way back from 10 down to a dollar 75, you know. At some point you have. The shorts have to take profits. And so waiting for that day is definitely

00:02:57.870 --> 00:03:10.030 
Tommy Salerno: a good opportunity which you can see here on Pxmd. I was the eye in this down here. I like 2 60, but I don't know I was. I was like thinking, Okay, this is actually could be that didcap bounce setup.

00:03:10.170 --> 00:03:20.810 
Tommy Salerno: But like we were already at 2 60, we were. I guess we were sort of balancing 2, 60 to 80, we still had more room to go. Yeah, target would have been break of

00:03:21.340 --> 00:03:36.029 
Tommy Salerno: on the daily. Let's take a look at the Daily. yeah, break back. Probably. Yeah. Target 3, 50 would probably be your first target. Anything after that would be, you know, trying to look for

00:03:36.810 --> 00:03:52.719 
Tommy Salerno: trying trying to look for maybe quick games, because after you get the dead cat bounce, you don't really get any sort of continuation, as you can see on Pxmb. Quick, and then it just starts to fade hard.

00:03:52.820 --> 00:03:56.660 
That's where we got an Ella. ILIF. W. As well

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Tommy Salerno: back on. Was it this day?

00:04:02.380 --> 00:04:03.470 
The 1 80?

00:04:03.560 --> 00:04:09.289 
Tommy Salerno: Yeah. You got the deadcat bounce set up here off the support level and sort of here as well.

00:04:09.310 --> 00:04:15.569 
Tommy Salerno: this day was definitely better. But yeah, the day cap on setup there and then, also Tps, T

00:04:16.960 --> 00:04:19.789 
Tommy Salerno: back here as well. or the break of 4.

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Tommy Salerno: This is the only sock and play on this day as well. On Thursday

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Tommy Salerno: that made up about a dollar 30 for dollar 30 per share, move off the lows.

00:04:30.830 --> 00:04:36.519 
Tommy Salerno: but it's good to keep those runners on watch for these types of moves off the lows.

00:04:38.680 --> 00:04:39.620 
Alexander Winkler: Yep.

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Alexander Winkler: yeah. Good good analysis on those. I also have been what I've been doing actually is on my second screen. I just have at least 3 former runners, and I'll put it on the 15 min, and I'll just track them as well.

00:04:54.290 --> 00:05:04.920 
Alexander Winkler: Yeah, a little bit like you've been doing just just to keep an eye on, because we've been having a lot of not like multi day runners necessarily, but exactly like you said. You know, we get a nice pop. And then

00:05:04.990 --> 00:05:09.510 
Alexander Winkler: 6, 7, 8 days later. There's that dead cat balance. I have noticed

00:05:09.740 --> 00:05:11.210 
Alexander Winkler: similar things.

00:05:12.310 --> 00:05:20.109 
Alexander Winkler: but you just gotta be ready to trade it, and that's why that's what it's a little bit difficult for me, cause they usually pop midday or they pop

00:05:20.250 --> 00:05:29.750 
Alexander Winkler: at random times. And I'm usually not online. So even today, Px, Md, I wasn't there for this? 1030 Am. Eastern move.

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Tommy Salerno: Yeah. And this is something again, like the spreads are very wide on this. And

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Tommy Salerno: you know, earlier, before you know, for the volume really started coming in after the first halt. It was still kind of low volume. This is only 160

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Tommy Salerno: 1,000 shares.

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Alexander Winkler: that's, you know, pretty low on the lower end. Yeah, that's true. After the market's open, it's on the lower end. Yeah. If it figures only up 200 K. Shares per minute. I usually don't look at it, and then it, you know, you had like 3, 4 min. Where? Then it went over. So you had to be.

00:06:06.390 --> 00:06:15.410 
Alexander Winkler: and the move was over. So it's like you had to be ready to go on your watch list. Maybe an alert that went off. Okay, it's back above.

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Alexander Winkler: I don't know former highs highs of yesterday, or something like that.

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Alexander Winkler: but it's a little bit of maintenance, which isn't necessarily a bad thing.

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Alexander Winkler: But yeah. tricky.

00:06:32.269 --> 00:06:33.759 
Alexander Winkler: I almost had

00:06:34.049 --> 00:06:40.980 
Alexander Winkler: a huge home run trade today. but I was already read on the day.

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Alexander Winkler: and I end up taking my profits early because of that, just because I was like, this is the trade. I got back green on the day, and I usually never look for home. Run trades, especially if I'm red. I'm trying at that point. I'm trying to base it and get a little bit of flow back.

00:06:58.200 --> 00:07:21.899 
Alexander Winkler: But I bought this dip I sized in pretty. Okay. I started getting red on it, but then it popped up here. I close some at 26, so like a 5 cents a share. Profit? Yeah, almost exactly what you did. It popped up here, but then got slammed back down, and then I closed the rest of like 24, and at 4.5,000 shares I had 5,000, and then

00:07:21.930 --> 00:07:30.769 
Alexander Winkler: and then it just rips, and I'm like no like that was a perfect. I got shaken out like right on the false false initial move.

00:07:31.150 --> 00:07:32.070 
Alexander Winkler: But

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Tommy Salerno: on that resumption you were in at 1 48, and then you sold that 1 36. That was the same trade that I lost all my profits on.

00:07:46.240 --> 00:08:04.710 
Alexander Winkler: Yeah, I bought high on this one. I got stuck on the altdown. Luckily I was just getting started with entering the trade, and then it halted, and I was like, Oh, shit! But I only had 500 shares. I didn't really care I lost like 60 70 bucks on it, just because of the small size, even though it would have been

00:08:04.840 --> 00:08:10.359 
Alexander Winkler: actually, that was a pretty brutal percent loss. It was like a 10% loss.

00:08:10.420 --> 00:08:29.739 
Alexander Winkler: Yeah, that's the one you got stumped on. And then I wanted to buy some of these dips. But somehow I kept missing my fills, and then I got this dip just kind of, because it was a bit of like a triple bottom here, here and here, and then to quick profits, did the same trade here. So I made back like, I don't know 200 bucks or so, but I don't know it wasn't

00:08:30.529 --> 00:08:49.548 
Alexander Winkler: I like this. This is the money maker, and usually I nail these pre market. But I was gone. I was literally gone. I closed shop around like 7 45 or something, and I didn't notice it got back up because I wasn't checking the discord. And then II came back, and I was like, oh, no! Like that was a beautiful run.

00:08:49.580 --> 00:08:53.659 
Alexander Winkler: Beautiful run! We haven't had a pre-market run like that in so long.

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Alexander Winkler: Oh, well.

00:08:56.650 --> 00:09:15.650 
Tommy Salerno: sometimes I do a little worse on on that type of price action where it's yeah, that'd be a little bit more patience. And then it's also it. It only moves up like a penny, and then it pulls back like 2 pennies, and then it moves back up 3 pennies and back one penny a couple of more pennies. You gotta be a little bit patient on those, and sometimes I lack that patience

00:09:15.690 --> 00:09:32.979 
Tommy Salerno: break even, or for one cent loss, and then chasing it back higher to cut it for one cent loss again. Oh, yeah, I have those days to, though like where there's a front side that grinds for like 30, 45 min, and I'm like, barely green or red on it. And I just did every

00:09:33.029 --> 00:09:44.499 
Alexander Winkler: everything wrong. But typically this is this is like my my breadbasket. This is. This is like my stuff that I like to trade. I don't. I'm a little bit more patient pre market. I don't have to worry about halts. I just kind of.

00:09:44.870 --> 00:09:50.110 
Alexander Winkler: I'm just. I feel like I'm more in the driver's seat and that like when stuff like this happens, it's just like

00:09:50.180 --> 00:10:07.659 
Alexander Winkler: it feels like a coin toss to some extent, you know. Just a hops up, goes down. It's just a little bit hectic. Or was that other ticker that was just for me. It was just awful today if I envo, and I only traded this one pre market, I think, or did I trade it. After that.

00:10:07.900 --> 00:10:13.860 
Alexander Winkler: This was so hectic like it was just like pops up flushes down.

00:10:14.070 --> 00:10:33.330 
Alexander Winkler: yeah, I try to trade this pull back here. I was actually pretty conservative on it. I just had really big size. So the fact I'm only down to 60 isn't even that bad? I basically cut my loss as this was selling, and I got a really nice low entry. But again, I just had, like a, you know, almost 10,000 position on this one.

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Alexander Winkler: So

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Tommy Salerno: yeah, a little bit too big for first first trade of the day, I would say, but it looked like it had that

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Alexander Winkler: potential to.

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Alexander Winkler: I'll show you. I see this a lot where we have one of these kind of like ascending channels, more or less.

00:10:51.450 --> 00:11:00.859 
Alexander Winkler: and then the last one there's sometimes like this pull back, and then it has that fake out and then soul sales off. So I was going for the fake out.

00:11:01.570 --> 00:11:08.328 
Alexander Winkler: But that didn't work. It did have that run from earlier that still below the highs of 3.

00:11:08.370 --> 00:11:17.939 
Tommy Salerno: So you still have a little bit of supply overhead. I'm not sure exactly how that chart was, I think, probably to the 30 day you have a 30 day chart.

00:11:18.059 --> 00:11:23.660 
Alexander Winkler: I just have a daily that goes way back 90 90 day. Try to do 90 day.

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Tommy Salerno: 5 min every day.

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Alexander Winkler: I got 5 min. Let's see 1, 8, yeah. Okay, 90. Here.

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Tommy Salerno: Maybe

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Alexander Winkler: I am staying there. Yeah.

00:11:41.799 --> 00:11:44.959 
Tommy Salerno: that was the big day on in Vo.

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Yeah, almost forgot about this day.

00:11:49.789 --> 00:11:54.028 
Alexander Winkler: And look how deep it cuts into that 5 min chart, though

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Tommy Salerno: that's I don't remember how I did on this one. I'd have to look it up in my calendar. But

00:12:00.019 --> 00:12:07.288 
Alexander Winkler: yeah, pretty beastly too nice. The volume's okay. But coulda could have been maybe a bit more

00:12:07.670 --> 00:12:22.590 
Tommy Salerno: crazy. That was the problem. Yeah, I think I was right on this stock, just because the halts and the dips were the the halt down on the dips. They were zoom so much lower, and I thought that that was going to be it. I thought that was going to

00:12:22.830 --> 00:12:25.590 
Tommy Salerno: back to the, you know, right on the day but

00:12:25.720 --> 00:12:32.019 
Alexander Winkler: and then I kind of just stopped trading it. But

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Tommy Salerno: it's crazy that the size that works raining is like it's almost in. It's almost embarrassingly small. And It's like

00:12:44.289 --> 00:12:45.980 
Tommy Salerno: I can't get enough

00:12:46.309 --> 00:12:47.910 
solid trades

00:12:48.090 --> 00:12:56.019 
Tommy Salerno: for me to. you know. Bump it up to over 10 K position size, or even like, consistently 10 K position size.

00:12:56.860 --> 00:12:58.000 
Because

00:12:58.110 --> 00:13:16.049 
Tommy Salerno: I don't know. III never know when that a plus setup is coming, and then it does come. I'm I'm under capitalized on it. And then I'm like, Okay, like or seen some action. And then the next few trades like the move is almost pretty much over, and the rest set rest of the setup for C quality bee quality.

00:13:16.620 --> 00:13:18.240 
Tommy Salerno: and it's hard to.

00:13:18.480 --> 00:13:41.469 
Tommy Salerno: you know, risk that a quality profit set or so easy to now risk that for a lower quality setup on bigger share size. Yeah, that's that's a big problem. There's never that second or third opportunity, maybe second one, maybe, maybe. But you almost have to nail it right away. That's that's why, with Imvo. I just went with 10,000, my first trade, because I was like

00:13:41.549 --> 00:13:48.379 
Alexander Winkler: after this move, there's not gonna be another move. And in a way I was right, but it was already dead, you know, it was like

00:13:48.500 --> 00:13:51.200 
Alexander Winkler: the the move never happened. So yeah.

00:13:51.309 --> 00:14:00.059 
Alexander Winkler: same with like BC, BC. Da, like I was, you know, decent share off decent shares off the low. But with something like this I need to be

00:14:00.640 --> 00:14:02.769 
Tommy Salerno: 5 K. Shares

00:14:03.090 --> 00:14:12.239 
Tommy Salerno: per per like increment. So like if it's like an a plus setup, I'm hitting the buy button 2 to 3 times. So that's 10 to 15,000 shares.

00:14:12.390 --> 00:14:14.710 
Tommy Salerno: and then, like a lower quality setup.

00:14:14.750 --> 00:14:40.669 
Tommy Salerno: you know, looking for just a couple of cents pop or like off of the dip, you know, maybe only hitting the buy button once for 5,000 shares, but I was only doing one to 2,000 shares per increments, and that's just not enough. And by the time I got that good 7 or 8 cent win on BC. Da. We halted up and then, like, I'm like, Okay, now, it's starting to move. Maybe I should bump it up to 5,000 shares. And then by the time I did, that

00:14:40.690 --> 00:14:42.999 
Tommy Salerno: flushes right back down. And that's it.

00:14:43.250 --> 00:14:44.190 
Alexander Winkler: Yeah.

00:14:44.500 --> 00:14:50.609 
Alexander Winkler: that's that's exactly it. Just it's yeah, I mean, that's that's similar to my struggle. I've been

00:14:51.559 --> 00:15:00.519 
Alexander Winkler: yeah. Just so, you know, I'll have like a nice 500 day. Then a $700 day, and then like a $1,500 red day or something. And it's just like I cannot keep my profits at

00:15:00.700 --> 00:15:07.559 
Alexander Winkler: all like at all right now. And it's it's getting. I've been basically flat now for I think 3 months.

00:15:08.029 --> 00:15:19.700 
Alexander Winkler: maybe even 4. But it's just it's getting. you know, flat in terms of like maybe $1,000 green month, and then, like the next month, like a thousand dollar red month, you know. So it's just like

00:15:20.000 --> 00:15:29.528 
Alexander Winkler: 0 0 progress. And it's very frustrating. I think that's how Danny probably feels roughly right now, too, where it's just, you know, I don't know. It's just it's a real grind, and

00:15:29.660 --> 00:15:35.779 
Alexander Winkler: you get a little bit exhausted by it. So you don't even know what to do. It's like, do I? Just wait till it gets better. Or do I have to like

00:15:36.820 --> 00:15:37.849 
Alexander Winkler: do something.

00:15:37.870 --> 00:15:54.739 
Alexander Winkler: you know, totally, just like my concept of trading. II really don't know myself. I I'm just kind of like trying to trade less right now. So II don't get so annoyed at myself because I can't spend 3, 4 HA day kind of

00:15:55.059 --> 00:16:03.109 
Alexander Winkler: chopping around, and then at the end of the month, I'm read. $500 is just to me. It's the opportunity cost is like brutal. So

00:16:03.350 --> 00:16:05.899 
Tommy Salerno: yeah, it's hard for me to justify.

00:16:07.230 --> 00:16:24.119 
Tommy Salerno: Yeah, that's one thing that I I'm happy about my position here right now is that I'm actually, you know, right right in here. I'm right on highs right now, on my account. I'm not in a huge drawdown, I think that's just for me being like Super, you know, trading this year just super scared like not

00:16:24.789 --> 00:16:36.269 
Tommy Salerno: trying to hit home runs. And you know, while that it does limit my profits. But in a market like this. That is the only reason why I'm still at the heights of my account, and not

00:16:36.360 --> 00:16:48.519 
Tommy Salerno: having massive drawdowns like some other traders. But you know they? Obviously, when it's good, like they are like Danny when it's good, like he's hitting 5 K days. And you know that's what I'm that's what I'm

00:16:48.600 --> 00:16:57.820 
Tommy Salerno: aspiring to do eventually. but I just don't think it's my moment right now. I don't think it's my time in this market right now

00:16:57.830 --> 00:17:03.090 
that I am capable to perform in this market this type of market

00:17:03.360 --> 00:17:16.039 
Tommy Salerno: at that level. II think I need to wait for a shift in momentum for me to at least initiate cracking those levels that you know a thousand, 2,000 $3,000 green days. Because.

00:17:16.070 --> 00:17:38.660 
Tommy Salerno: you know, if I'm gonna risk that, you know, obviously, you know, trading at that level for the first time, you're obviously gonna be emotionally triggered in your trades. So you know, II need to give myself room to make mistakes at that level of share size, and for me to make a massive mistake on something like Bcda. And then for the rest of the day. There's no more opportunity. I could be in a drawdown for a couple of months.

00:17:38.830 --> 00:17:45.890 
Tommy Salerno: Because the market so slow, and I don't get that opportunity to make it back. So I think the key for me is just waiting for that.

00:17:46.059 --> 00:17:53.950 
The market to where I can make mistakes, and I can make it back relatively quickly, so that I'm not emotionally just

00:17:54.470 --> 00:18:07.370 
Tommy Salerno: just drained every single day, cause I'm trying to just grind back green or trying to recoup losses and going deeper in the red and being frustrated, because that eventually, you know, so many days of that like.

00:18:07.450 --> 00:18:15.710 
Tommy Salerno: I started to feel like, not excited to trade anymore. I'm not excited to sit down and look at the market cause.

00:18:15.779 --> 00:18:23.730 
Tommy Salerno: Just yeah, just from the frustration and the struggle. And it's just yeah, it is. It's definitely draining sometimes.

00:18:24.890 --> 00:18:52.850 
Alexander Winkler: Yeah, it's like, you know, the day ahead is already gonna be a grime, just mentally kind of distancing himself from it. That's a little bit what I'm doing right now, because II know it's just gonna be a bit of a grind. And I think if I get that great. Take her at 7 am. Or right at the market open. So be it. But I like I really can't stick around from 7 till 9, 30, and just stare at the market, and then do, and then do the open trading like I used to, because it's

00:18:53.170 --> 00:19:08.730 
Alexander Winkler: I mean, you know, 9 times out of 10. Nothing's gonna happen. And you're just gonna get really annoyed and start trading bad stuff. And then finally the good ticker comes. But you're already gonna be red, or you're you're just gonna make enough green to get back in the green. So

00:19:08.860 --> 00:19:21.209 
Alexander Winkler: yeah, I'm trying to limit my exposure like I've been saying, but I think I want to take it even to the next level. Really, just do the 7 to 7, 30, and then again, do like 9, 15 to like 10,

00:19:21.360 --> 00:19:34.338 
Alexander Winkler: and then just close up shop. And then, if I notice we're in that in that, in environment like you said, where mistakes aren't as punishing, and you want to stick around a little bit longer because it it would actually be

00:19:34.410 --> 00:19:41.029 
Alexander Winkler: net beneficial. Then I then I don't mind scaling my trading time again. But

00:19:42.130 --> 00:19:47.509 
Alexander Winkler: I I've made too many mistakes sitting around looking at having to us open. So

00:19:48.150 --> 00:19:49.080 
Tommy Salerno: yeah.

00:19:50.680 --> 00:19:52.460 
Alexander Winkler: that's that's where I'm at.

00:19:53.570 --> 00:20:10.600 
Alexander Winkler: Training is difficult man. It's fucking. It tests you, man, it's tested you so much, so much. That's what's so so fun about it. But yeah, that's what's so frustrating about it right? I mean, if it was, it was easy it'd be great. We'd be all be rich. But I don't think we'd be interested in it very long. So

00:20:13.289 --> 00:20:14.380 
Tommy Salerno: yeah, yeah.

00:20:14.480 --> 00:20:16.730 
Alexander Winkler: yeah, it's a tough one

00:20:18.769 --> 00:20:28.719 
Tommy Salerno: you gotta love it. You have to. I don't know. You have to love the I don't. It's it's actually, I think the people who love trading are the same

00:20:29.160 --> 00:20:47.679 
Tommy Salerno: types of people who love gambling, but they know that they're overall going to make money in the long run, but I think it's the same like, you know, dopamine hit of figuring it out of like nailing a good trade and having that good idea that worked out like that dopamine hit just keeps you addicted to the market.

00:20:48.279 --> 00:20:57.028 
Tommy Salerno: But just that's just like anything else. So like, if you're, you know, a salesperson, you know that dopamine hit of finding a good client and nailing that sale.

00:20:57.049 --> 00:21:09.558 
Tommy Salerno: you know. That's also the same dopamine hit that you're gonna get from nailing a good trade or selling a house and getting a nice condition. Now that's the same dopamine hit that you're gonna get from nailing good trade.

00:21:10.600 --> 00:21:15.170 
Tommy Salerno: But yeah, it's just I think it's just like falling in love with the process. And then also.

00:21:15.570 --> 00:21:24.099 
Tommy Salerno: getting that positive feedback loop from making good decisions, kind of just feedback into itself. And then you just, you know, feel good about trading.

00:21:24.930 --> 00:21:25.860 
Alexander Winkler: Now.

00:21:27.220 --> 00:21:41.019 
Alexander Winkler: you know, it's just she wants to get a little bit nicer, you know. I mean, I mean, it was so fun back in when you basically woke up open to us, you knew there was gonna be like a clean 100 plus gadar. This is like clockwork.

00:21:41.240 --> 00:21:42.120 
Alexander Winkler: Whew!

00:21:42.539 --> 00:21:51.828 
Alexander Winkler: But we'll have those those days again. And I think you know, now we're putting in the putting in the work. And we're gonna we're probably gonna be able to capitalize on those

00:21:52.009 --> 00:21:53.890 
Alexander Winkler: those environments much better.

00:21:54.039 --> 00:22:17.119 
Tommy Salerno: Yeah, I think yeah, these market environments, trading through these market environments definitely teach you more about risk management than you would just only trading hot markets for sure cause, like we were seeing like the hot markets you could be, you could average down into a losing position, and then it curls right back up. And here in the green. You're like, Wow, I had a great trade.

00:22:17.370 --> 00:22:21.239 
Alexander Winkler: I did everything right. It was your account.

00:22:21.250 --> 00:22:30.778 
Alexander Winkler: Oh, yeah, yeah, everything down right now is oof. There I do. There's some moves where there'd be like technically 3 healthy pull backs, but it just

00:22:31.289 --> 00:22:39.359 
Alexander Winkler: like a like a straight waterfall. The price action just goes down. If you're not cutting you could, you could blow up a big account really quick.

00:22:39.680 --> 00:22:46.509 
Tommy Salerno: Yeah, I think I think right ahead some massive legs in our profit curve when that market does turn around.

00:22:46.660 --> 00:22:49.459 
Alexander Winkler: Yeah, really hit our stride.

00:22:49.710 --> 00:22:53.239 
Alexander Winkler: I agree. It doesn't even have to be that much. Just

00:22:53.390 --> 00:22:58.759 
Alexander Winkler: it has to just be like just tiny bit better. So

00:22:59.150 --> 00:23:03.750 
Alexander Winkler: there's actually a nice trade. I'll share here on a firm that I did.

00:23:05.160 --> 00:23:09.588 
Alexander Winkler: It's very small profit. I didn't size it like I should have.

00:23:09.870 --> 00:23:15.849 
Alexander Winkler: But this was one of the top gainers today in terms of large caps. It I mean, it is the

00:23:15.880 --> 00:23:18.979 
Alexander Winkler: highest rated ticker right now in terms of dollar volume.

00:23:20.159 --> 00:23:22.909 
Alexander Winkler: And there was, there was kind of like one of those classic.

00:23:23.460 --> 00:23:37.880 
Alexander Winkler: It goes up really fast and starts slowing down. And I kind of assumed it would slow down a little bit. So II went for this initial pull back, got a little bit more on this pull back. I was looking for that flat top break at 26. We never really got it.

00:23:37.940 --> 00:23:45.119 
Alexander Winkler: I felt like the volume was getting weaker and weaker, and on these these green candles. It was just tiny volume. So I started closing here.

00:23:45.829 --> 00:23:55.099 
Alexander Winkler: But I just want to share this exact move right here. It was so nice I wasn't online anymore. But this 1 min pull back

00:23:55.460 --> 00:24:07.119 
Alexander Winkler: is often what I look for these, the 5 min coming back up. It's looking really strong. Here we have that quick micro pull back volumes already slightly on the increasing side again.

00:24:07.250 --> 00:24:17.168 
Alexander Winkler: and then going for this breakout I probably would have not held very long, because the volume actually ended up not getting super high until right at the end.

00:24:17.599 --> 00:24:42.108 
Alexander Winkler: So that that volume action isn't super nice, but II love that little 1 min. Pull back! Those are some beautiful entries. But this this was a bit of a grinder taker. It just had so many false attempts. And that makes sense, because, you know, like a float is where the market cap is. 7.7 billion. Float is 300 million sign for the shares outstanding. So these are tickers. I typically don't trade, but kind of nice price action in a way

00:24:42.170 --> 00:24:55.519 
Tommy Salerno: that's tough for me. I don't think I'd be want to trade that cause. There's 4 attempts that fail continuation. I would be bricks. It was choppy. It was really that just that one last

00:24:55.860 --> 00:25:02.900 
Alexander Winkler: setup that I didn't go for cause I was closed already, but that was. that was a nice one.

00:25:03.539 --> 00:25:14.148 
Tommy Salerno: yeah, I don't know. Another thing to note is just the importance of being positive when you know you're not performing, or you had a bad day or a bad streak.

00:25:14.200 --> 00:25:25.318 
Tommy Salerno: It's so easy to fall into that mindset of just being like feeling hopeless and like that, it's never gonna turn around and like you just don't care anymore. Once you get into that mindset just

00:25:25.329 --> 00:25:41.300 
Tommy Salerno: like. Don't sit down. Trade. Don't sit down and trade, because you will make some stupid decisions that the whole hopeless and and like, I don't care anymore. Mindset. When you sit down a trade, you are going to make some massive mistakes that is like prime

00:25:41.650 --> 00:25:54.070 
Tommy Salerno: environment for just taking an oversized position and getting super frustrated. So it's really important to stay positive and you know, putting that energy

00:25:54.139 --> 00:25:56.389 
Tommy Salerno: and doubling down into your studies.

00:25:56.400 --> 00:25:58.500 
That's the best thing you could do.

00:25:59.630 --> 00:26:12.200 
Tommy Salerno: yeah, just being positive, you know, thinking it, as you know, terms of market tuition. you know you spend what 50,000 to 100,000 on a bachelor's degree or more.

00:26:12.389 --> 00:26:17.269 
Tommy Salerno: And you know, whatever you spend, you know, if you're just starting trading, okay, you lose

00:26:17.349 --> 00:26:21.099 
$30,000 to the market. That's market tuition. That's a lot of

00:26:21.280 --> 00:26:30.418 
Tommy Salerno: knowledge you can. You can get from that. But obviously it's best to keep as small as possible. But you know any losses, you should keep it

00:26:30.500 --> 00:26:32.679 
Tommy Salerno: in a positive light.

00:26:32.710 --> 00:26:36.530 
Tommy Salerno: Market tuition. Think it as a lesson learned.

00:26:36.650 --> 00:26:51.269 
Tommy Salerno: you know. If you're small green. Take what you can from that, and not, you know, beat yourself up. They should be more. But you know, look at the good setup that you took, and how can you size and bigger to that? Or now you know better that you know that setup worked out, maybe should be more confident in the future.

00:26:51.619 --> 00:26:54.110 
Tommy Salerno: There's a lot of things that

00:26:54.860 --> 00:27:01.070 
Tommy Salerno: lot of traps that you can fall into just being negative about your performance. But it's good to be positive, and then

00:27:01.570 --> 00:27:03.509 
Tommy Salerno: fuel that into your studies.

00:27:05.690 --> 00:27:10.429 
Alexander Winkler: Yeah, I think that's super well said and articulated, I think,

00:27:11.309 --> 00:27:27.289 
Alexander Winkler: where I often make mistakes is exactly that where, you know, I'll have my green trades, or I'll be patient, and I'll be in the Zone, and then I don't know. Eventually you get in the mood, because maybe you had a few bad trades in a row, and then your P. And I'll go, zoom.

00:27:27.510 --> 00:27:39.559 
Alexander Winkler: you know, because then you get started getting negative into like a negative. I always call it a red state of mind, because that's what you start getting. Those are the results. And yeah, you want to stay in. That positive green state of mind

00:27:40.280 --> 00:27:49.240 
Alexander Winkler: makes a huge difference. So what I notice is, if I do start getting distracted, let's say, I need to work on a different project, or I'm just having some bad trades.

00:27:49.530 --> 00:28:17.519 
Alexander Winkler: Sometimes it really is just best to say, Hey, you know what I'm done for today, or you know, if maybe I can come back later today. But like I in the current state, mental state that I'm in, either I'm distracted, or I'm have something else in my mind. Why, that's is distracted, or I'm I'm negative. Then probably better just to close up because you're gonna get even more upset when your next trades read. Then you're gonna get on tilt. And then you're gonna have a Max lost day. And

00:28:17.860 --> 00:28:29.509 
Alexander Winkler: yeah, like you said earlier right now, the it's all about not giving back profits and managing your risk. That's that's really more the focus in this market as opposed to making profits.

00:28:29.559 --> 00:28:43.088 
Alexander Winkler: and I think if you just manage your risk well, you'll probably be green. I'm I'm definitely not managing my risk nearly as well, and I just keep giving back thousands every month, for for sometimes no reason like I'll take trades like at

00:28:43.570 --> 00:28:51.519 
Alexander Winkler: 1030, when I should have already been logged off, and I'm just. I was just sticking around for no reason, and then I could, you know, big flush on, I'm like, Well, there we go.

00:28:51.659 --> 00:29:01.950 
Alexander Winkler: It's like. Why, why did that happen? You know I was not in the right state of mind when I was super focused, you know, an hour ago, and I would have never taken that trade an hour ago. Yeah.

00:29:03.079 --> 00:29:04.030 
Tommy Salerno: Hmm.

00:29:04.369 --> 00:29:13.780 
Alexander Winkler: yeah, for me, that that market exposure has just been killing me. So I yeah, I gotta do what I can at all costs to to reduce it for now.

00:29:15.389 --> 00:29:17.980 
what what time does the market open again for you?

00:29:20.010 --> 00:29:25.789 
Alexander Winkler: It's 3 30 pm, here. So that's 7.

00:29:25.929 --> 00:29:27.528 
Alexander Winkler: No, that's 3,

00:29:27.590 --> 00:29:43.820 
Alexander Winkler: yeah, 3, 30 is the 9 30 open. So I'm 6 h ahead of Eastern standard. So I'll log in at one to see the 7 Am. Open, and then I'll I'll usually close at like 1, 31, 45, and then I'll come back at 3, 30

00:29:44.179 --> 00:29:47.990 
Alexander Winkler: or the open. Open the real open, and then I'll trade it.

00:29:48.010 --> 00:29:51.690 
Alexander Winkler: So I'm trying to keep it right now under 2 h of training, ultimately.

00:29:52.470 --> 00:30:01.949 
Alexander Winkler: but it's tricky to do like today. The market decide to do the best move at, you know. 8 to 9. So

00:30:02.920 --> 00:30:04.958 
Tommy Salerno: do you do anything.

00:30:05.409 --> 00:30:06.289

00:30:06.429 --> 00:30:10.880 
Tommy Salerno: like one. Pm. that is any draining mentally?

00:30:11.070 --> 00:30:28.509 
Alexander Winkler: Yeah, quite a bit. That's why I actually like trading Florida or somewhere in America much more. But I'm I'm working on a lot of software stuff usually. So I'm I'm pretty like, I have a pretty solid morning session. I always wake up pretty early, like around 6, 36, 45,

00:30:28.570 --> 00:30:29.878 
Alexander Winkler: and then

00:30:30.000 --> 00:30:53.240 
Alexander Winkler: I'll start working, or I'll go for a workout, and then I'll start working. But ultimately I already got like a solid 4 or 5 h of work in, and then a work, and then a like a workout as well. So like a maybe 45 min workout. Then I'll have lunch. And then basically, trading starts. So I like, I just had, like the first half of the day already completed. So sometimes I'm already pretty faded by

00:30:53.539 --> 00:31:01.749 
Alexander Winkler: like, yeah, I mean right now, it's 6 30 pm, so I'm already pretty exhausted at this point. But even when I'm trading, and it's like, let's say.

00:31:02.380 --> 00:31:15.769 
Alexander Winkler: 1030 that's at the Am. Eastern. So the art, like so technically still, often a lot of good moves. It's getting to like 4 30 here. I'm kind of in that, like getting a little bit loopy.

00:31:17.010 --> 00:31:33.429 
Alexander Winkler: I definitely need to break, so I often go out for like a 20 min walk or something between training sessions just to like get fresh. II know Toby has similar situations because he's basically training in the middle of the night. I honestly, I don't know how he does it. I don't think I could do that. I like. I would have to

00:31:33.630 --> 00:31:41.599 
Alexander Winkler: pick a different market, pick a different time zone, or pick something different. But II could not trade it like one in the morning. No, no, thank you.

00:31:43.929 --> 00:31:57.170 
Tommy Salerno: No, yeah. See, I'm I don't know if I could do that, because I think that would affect my performance just because I'm most sharp right at right when I wake up to about 11. So about like the first 3 to 4 h on the sharpest

00:31:57.480 --> 00:32:01.409 
Tommy Salerno: of the day, and then it starts to fade. But yeah, I think

00:32:02.440 --> 00:32:08.030 
Tommy Salerno: I think I would be really affected if I was doing a an intensive.

00:32:08.269 --> 00:32:17.670 
Tommy Salerno: an intensive mental workout. You know, I guess working on program or anything like that like you said you're doing I that would definitely affect my performance for sure.

00:32:18.740 --> 00:32:21.499 
Alexander Winkler: Yeah, a lot of those problems from before.

00:32:21.539 --> 00:32:37.880 
Alexander Winkler: This is what I noticed is a big problem is like they're still on your mind, like, let's say you're trying to solve this larger coding issue. So you're still thinking about that. And then sometimes in the middle of trading, you're like, Oh, I figured out an idea, and then you want to test it, and then the markets flat. So then, you're like, do I

00:32:38.050 --> 00:32:42.380 
Alexander Winkler: now do I now go and work on this other project that I need to work on?

00:32:42.409 --> 00:33:08.369 
Alexander Winkler: Or and then you start working on it. And then something starts ticking, and then you try to go back, go back and forth. And it's that's one like, Okay, I just need to cut it like if I miss it. I miss it. But I it's hard to switch back and forth, and then, if I leave to us open. You're always kind of looking at it a little bit, and then you can't really focus on the other project. So it's you definitely trip over yourself. So I like to, you know, if I get that 7 to 7, 30 move great if I miss it.

00:33:09.130 --> 00:33:30.199 
Alexander Winkler: So be it. You know II gotta live my life and do do other things, and eventually I think that would probably be much better for me, unless it's like one of those 2020 moments. And I say, Okay, you know, it's worth putting in 3, 4 h of trading a day, maybe even 5, because the market is just insane. And you could potentially make a million dollars this year, you know. But right now.

00:33:30.380 --> 00:33:37.909 
Alexander Winkler: based on our trading styles, it's really not the case. So so there's no point in

00:33:38.630 --> 00:33:40.568 
Alexander Winkler: working ourselves to the bone.

00:33:41.889 --> 00:33:50.108 
Tommy Salerno: I remember Ross was saying, during 2020 and 2021 that he was. He was trading from 4 Am.

00:33:50.829 --> 00:34:06.429 
Tommy Salerno: 4 Am. Which is the beginning of beginning of pre market. Not even think or swim. You can't even trade yet. 7 he had with light speed. I guess you can start trading at 4 Am. Eastern time, and he would trade all the way until 9 Pm. At night.

00:34:07.970 --> 00:34:24.568 
Alexander Winkler: Every hour there was a new stock going 100. Yeah, it was so good I should have traded more to back then. II even had long days. I would often trade the afternoons, even do some power hour trading or something. But

00:34:25.769 --> 00:34:43.009 
Alexander Winkler: yeah, my experience back then wasn't so good. I basically had half a year under my belt of that strategy what basically Ross was doing. But I had couple of other years of general market trading and other strategies under my belt, so I was able to capitalize on it a bit.

00:34:43.070 --> 00:34:54.798 
Alexander Winkler: and you know I made like 70 80,000, I think, in 2020, but you know I should have I should have, could have would alright so II hope when when we get another session like that.

00:34:54.980 --> 00:35:03.139 
Alexander Winkler: it doesn't even have to be like a giant covid, the whole world get sick situation. I think it. It just needs to be like a few months where

00:35:03.400 --> 00:35:12.150 
Alexander Winkler: there's less focus on the the macros. And there's there's just a and it's the overall. There's more certainty.

00:35:12.220 --> 00:35:20.820 
Alexander Winkler: And then small caps start just popping, popping, popping. I think that we just need like a few months of a little bit more mellow

00:35:21.000 --> 00:35:28.720 
Alexander Winkler: action. I think we might even be getting that. I mean, the spy might even hit a new all time high pretty soon here, at the rate it's going. It's ridiculous. So

00:35:31.639 --> 00:35:40.479 
Alexander Winkler: we are like 7% away from all all time, ever in highs on spy. So it's pretty crazy.

00:35:43.119 --> 00:35:49.409 
Tommy Salerno: Yeah. I think once, I mean, we've already just II think now that the market knows

00:35:49.429 --> 00:36:01.829 
Tommy Salerno: the potential that we actually what we experience in 2020 and 2021. Now that we know that it's it's happened it? It's obviously, I think it's gonna happen again. And it's gonna happen

00:36:02.050 --> 00:36:02.960 
Tommy Salerno: bigger.

00:36:04.300 --> 00:36:13.340 
Tommy Salerno: I think that just because that traders know the possibilities about how high some of these stocks can go, that they're gonna be more comfortable, holding longer.

00:36:13.349 --> 00:36:16.250 
Tommy Salerno: adding higher, putting more money in.

00:36:16.349 --> 00:36:21.019 
Tommy Salerno: you know. Like, if you've never seen a stock go 300% ever.

00:36:21.340 --> 00:36:24.369 
And you're only used to stocks going up a hundred percent

00:36:24.380 --> 00:36:25.519 
Tommy Salerno: at most.

00:36:25.610 --> 00:36:31.528 
Tommy Salerno: No, every time you're gonna sell it 100 or less. Why would you ever hold 300? Never happen right?

00:36:31.880 --> 00:36:35.269 
Tommy Salerno: But now that the market knows, traders have experienced it.

00:36:35.349 --> 00:36:47.920 
Tommy Salerno: Stocks going 1,000 in a day from a dollar to $20 every single day, a different stock going a dollar to $20. It's obviously that more con more traders are gonna be more confident, holding

00:36:48.440 --> 00:36:53.119 
for the majority of the move a longer period in the move, adding more shares

00:36:53.480 --> 00:36:55.079 
Tommy Salerno: and being more confident.

00:36:56.619 --> 00:36:59.250 
Alexander Winkler: yeah, that's what we need. We need

00:37:00.269 --> 00:37:16.679 
Alexander Winkler: greater confidence to be to be at that level again. And I think, like you said, there's we all are kind of waiting for that move, and if we see a ticker that's up 300, it's not the first time we're ever seeing that. So we're not super nervous, and we're ready to trade it up even higher. So

00:37:16.840 --> 00:37:21.150 
Alexander Winkler: we just need a little bit more macro conditions, I think, and then we'll we'll get that

00:37:21.309 --> 00:37:29.798 
Alexander Winkler: beautiful couple of weeks or couple of months of trading right now. It's just I mean, technically, we had a pretty nice mover today. Bcda

00:37:30.070 --> 00:37:33.548 
Alexander Winkler: just had to kind of be there at the right time.

00:37:34.740 --> 00:37:37.889 
Tommy Salerno: but those are just few and far between.

00:37:38.360 --> 00:37:41.340 
Alexander Winkler: and it's a lot of sitting on your hands.

00:37:43.820 --> 00:37:44.750 
Alexander Winkler: Yeah.

00:37:45.190 --> 00:37:50.429 
Tommy Salerno: that can't be too easy. Once everyone would do it. That's right. That's right.

00:37:51.789 --> 00:37:52.650 
Alexander Winkler: Yeah.

00:37:53.990 --> 00:37:57.659 
Tommy Salerno: What's your game plan for this rest of the week.

00:37:57.940 --> 00:38:17.380 
Alexander Winkler: I guess I guess. Really get good at clicking the exit button on to us. That's my game plan, because there's so many times I talk myself into. You know what? I'm just gonna leave it open. So when someone says this takers moving on discord, I could just quickly check instead of relaunching to us, but

00:38:17.630 --> 00:38:24.599 
Alexander Winkler: I think relaunching to us is exactly that friction I need to make. Keep me from doing stupid trades.

00:38:26.619 --> 00:38:37.159 
Alexander Winkler: for now, unfortunately, I wish I was a little bit better at at that discipline, but I've made that same mistake now, over and over and over and over again, so clearly.

00:38:38.309 --> 00:38:40.360 
Alexander Winkler: I need to add more friction.

00:38:42.190 --> 00:38:46.829 
Tommy Salerno: You don't think that maybe you can keep your thinkers swim open and kinda just

00:38:49.010 --> 00:38:56.269 
Tommy Salerno: kind of just monitor without ever taking a trade like. Until then you could have at least saw BC. Da around 8 30.

00:38:56.360 --> 00:39:00.070 
Alexander Winkler: I do it sometimes. It's not like I never do it, but

00:39:00.490 --> 00:39:10.240 
Alexander Winkler: more times than not, I'll be like, Okay, that's kind of good. And then the my problem is what I told you earlier is, I got busy again with another project. So like, I'm

00:39:10.500 --> 00:39:25.588 
Alexander Winkler: like, my brain is split, and I'm not doing really good coding or whatever I have to do. And I'm not doing good trading, because I'm kind of thinking about this problem. It's like I need it. I'm so bad at multitasking like I need to either be doing that or that, but I can't be doing both

00:39:26.760 --> 00:39:34.250 
Alexander Winkler: like some people could like. I remember in high school some people were able to work like do their homework while watching TV like to me.

00:39:34.389 --> 00:39:41.470 
Alexander Winkler: I couldn't. I was either watching TV or I was doing homework. I would have to leave the room and and work somewhere else.

00:39:41.840 --> 00:39:46.199 
Tommy Salerno: Yeah, I'm the same way. I'm very one track, one track, mind.

00:39:46.429 --> 00:39:57.300 
Tommy Salerno: I think, for trading, though you kind of need like a one track. Mind, you don't want to be disconnected. You don't want any any RAM, any brain RAM. You don't want any of that directed anywhere else

00:39:57.510 --> 00:40:02.820 
Tommy Salerno: literally everything. That's why my screen. This is like my main

00:40:02.909 --> 00:40:08.909 
Tommy Salerno: I'll just show up for a quick sec. This is why I think my main screen is just one stock. and then I have my!

00:40:11.289 --> 00:40:12.579 
Tommy Salerno: I had my

00:40:13.110 --> 00:40:36.668 
Tommy Salerno: dash trader right here, but I just look at once. I only trade one stock at a time. I know a lot of traders have 3, 3, or 4 different charts, with separate active trader ladders on each chart, and trying to trade like 3 4 stocks at once. I can't do that. I need literally. I'm very one track, mind, I gotta be focused on one at a time, and most of the time

00:40:37.530 --> 00:40:42.909 
Tommy Salerno: most of the time in most markets at any one given time. There's only one stock that's giving a plus setups.

00:40:43.200 --> 00:40:44.079 
Alexander Winkler: Yeah.

00:40:44.190 --> 00:40:51.230 
Tommy Salerno: So Apa is moving. You know. I just wanna have my Dcda up here, everything else on the side on a side monitor.

00:40:51.400 --> 00:41:01.650 
Tommy Salerno: And then if Pca Vcda starts moving, I can look at my side, monitor, if anything else is moving, and then in that case, you know, I can pull up. You know Px Nd. It's breaking out. Let's pull it up

00:41:01.670 --> 00:41:07.970 
Tommy Salerno: and then, like, now, I'm just focused on Pxmd. I'm not trading anything else. I'm not working on anything else.

00:41:09.460 --> 00:41:16.050 
Tommy Salerno: And yeah, I think my best performance is just being being one track. It's rating.

00:41:17.650 --> 00:41:21.168 
Tommy Salerno: Yeah, I think that's the same thing. Board is just

00:41:21.710 --> 00:41:23.240 
Tommy Salerno: is just taking

00:41:23.349 --> 00:41:32.200 
Tommy Salerno: taking that one or 2 great 2, one or 2 good trades, and then wrapping it up, not getting back too much off the top.

00:41:33.750 --> 00:41:47.880 
Alexander Winkler: Feel like somebody came out recently with a I don't know if it was a social media post or something. Something was getting shared around where it was something along the lines of If you just were able to keep that extra $100 a day in your trading.

00:41:48.460 --> 00:41:56.159 
Alexander Winkler: and then some statistics behind it. But yeah 100. Let's say it was just $100 a day. That's already a $2,000 a month

00:41:56.269 --> 00:41:58.450 
Alexander Winkler: on top right there.

00:41:58.970 --> 00:42:12.860 
Alexander Winkler: and it seems like such a small amount of money, because I feel like if I'm if I'm up to 50, I feel like it's it's almost a wash, you know, until I'm up. $500. I feel like it doesn't. It's not really a green day, so

00:42:13.329 --> 00:42:23.849 
Alexander Winkler: sometimes I'll be up 6, 700, and then I'll try to push it for 1,000, and then I end up having like a $200 green day. And that's where I close up shop. So just understanding

00:42:24.269 --> 00:42:27.849 
Alexander Winkler: giving back profits is. it's

00:42:28.090 --> 00:42:37.909 
Alexander Winkler: it's a real killer, especially like a Max lost day. So it's only worth it. Yeah, it's only worth it. If the opportunities are good.

00:42:37.970 --> 00:43:01.510 
Alexander Winkler: Yeah, I'm I'm totally for losing money if the opportunities right. But right now I think I'm giving back a lot of profits on really bad opportunities. Just because I'm it's it's a mirage. I'm looking at the market. Nothing's happening. And then I start thinking I see things. And then the next day, when I review that trade, I'm like, this was a horrible trade, or even like 20 min later, I'm like, Yeah, that was a miserable trade.

00:43:01.519 --> 00:43:15.818 
Alexander Winkler: like there is like, had no news volume was 0 while breaking out, like, you know, like really stupid stuff that II know I shouldn't be doing. You know, it's only up 20 or like some really trash taker.

00:43:16.280 --> 00:43:17.429 
Alexander Winkler: Why.

00:43:17.659 --> 00:43:22.309 
Alexander Winkler: why am I trading that? So that's where the market exposure is really biting my butt.

00:43:22.440 --> 00:43:29.259 
Alexander Winkler: Yeah, I like following the 50% rule of, you know, if I'm upgrade on the day I give back half

00:43:29.490 --> 00:43:48.380 
Tommy Salerno: gotta walk away. No, if ends or butts especially, there's no opportunities. If there is opportunities at the hot market. Then I'll still keep trading. But yeah, 50% rule is definitely the as a hard stop for me. Just so I can hold on to some profits, you know, if II worked hard for Green on the day I don't want to go back to right on it. I just gonna feel so bad.

00:43:48.420 --> 00:43:56.088 
Tommy Salerno: And I'd rather, you know, walk away while I'm still up. If it's a colder market. But implement that rule, too.

00:43:56.269 --> 00:44:02.269 
Tommy Salerno: Yeah, that's a good one, you know, you can even go as far as like 20% off the top, you know. Just walk.

00:44:03.550 --> 00:44:13.418 
Alexander Winkler: Yeah, yeah, unless it's like a really hot market. Because, yeah, I mean, I have so many days where, let's say, I'm up with like a thousand or something. And I have that boom, big loser, or like.

00:44:13.460 --> 00:44:36.269 
Alexander Winkler: I'll give back 20 then the next trade. I'm already only at 50% of the daily profit, and then I have so many charts like that. And then, before you know what I'm at, Max lost, it's so. It happens so fast because you just you're instantly on tilt when you're down 50 from where you were literally like 10 min ago. And you're just like, Okay, I need to take the next trade to get back to where I was.

00:44:36.269 --> 00:44:57.970 
Alexander Winkler: And that's like, once you have that thought or like, even sometimes it's very subconscious, and you're just slightly on tilt, and it doesn't feel like you're having that thought. But you are. You're like, yeah, that 50 rule is really good. I've always thought about it, but I've never actually applied it, but I think if I did I would have another 1015 K. In the bank right now.

00:44:58.389 --> 00:45:02.429 
Tommy Salerno: you think. You think danny's trading AI.

00:45:03.070 --> 00:45:09.019 
Alexander Winkler: I think he probably is. He's either trading AR years at the gym break of 11.

00:45:09.329 --> 00:45:16.639 
Tommy Salerno: I like, I'm done trading. But yeah, I think yeah, my big, my, my biggest fat losses are

00:45:17.000 --> 00:45:28.989 
Tommy Salerno: big, big size loss. And then immediately, like just on instinct, because of these stocks, are just moving so fast. Sometimes media on instinct double my size immediately by rate market.

00:45:30.530 --> 00:45:35.769 
Tommy Salerno: And then it comes even further. That's just that's how I had my blowout days is just like.

00:45:35.780 --> 00:45:48.079 
Tommy Salerno: I don't even I. I'm not even having any thoughts. I'm just huge loss. Alright immediately double my share. Oh, big loss! Let's let me show you what a real loss looks like.

00:45:48.139 --> 00:45:57.700 
Alexander Winkler: Yeah, that's what it is, man. We've been training for so long. We can even still get on tilt sometimes like that. You just

00:45:57.710 --> 00:46:04.028 
Alexander Winkler: man being really aware of that, and setting up some systems to reduce the the downsides of tilt.

00:46:04.230 --> 00:46:07.950 
Alexander Winkler: cause even even like a micro dose of tilt will, really.

00:46:08.000 --> 00:46:11.699 
Alexander Winkler: but there was some damage on you.

00:46:12.720 --> 00:46:21.789 
Tommy Salerno: I see it crawling up. I'm happy. We got the chat, and even though it seems like everyone's running around somewhere. Some people are

00:46:21.950 --> 00:46:29.769 
Alexander Winkler: really beat up with the market. So I'm I'm happy. We were able to. you know. Get our get our thoughts out a little bit. I think that's really helpful.

00:46:32.510 --> 00:46:33.940 
Tommy Salerno: There's a I re.

00:46:35.610 --> 00:46:37.309 
Tommy Salerno: yeah,

00:46:38.450 --> 00:46:43.179 
Tommy Salerno: yeah, definitely top. So Hi, are you on the daily is just.

00:46:43.360 --> 00:46:45.099 
Alexander Winkler: I don't even know what it is.

00:46:49.470 --> 00:46:53.240 
Alexander Winkler: My God, what the heck is going on here!

00:46:53.750 --> 00:47:02.250 
Alexander Winkler: $575, do you think? Actually, when all the way up there. I don't know. I don't even see reverse split there, but there must have been.

00:47:03.829 --> 00:47:11.139 
Alexander Winkler: There must have been something, or I don't know it could've Ipo did like $18. That actually would make sense.

00:47:11.950 --> 00:47:25.418 
Alexander Winkler: I don't know, yeah, or a lot of people that are happy. It's popping so they can sell the rest of their what's it called bags?

00:47:26.619 --> 00:47:37.168 
Alexander Winkler: I like tickers that are over the 180 sma where the back holders are, where most people are green on the ticker. I think those tickers

00:47:37.639 --> 00:47:38.920 
Alexander Winkler: do better

00:47:41.139 --> 00:47:45.349 
Alexander Winkler: because you don't have people dumping into every little little pop.

00:47:46.030 --> 00:47:46.780 
Alexander Winkler: No?

00:47:48.559 --> 00:47:54.869 
Tommy Salerno: Well, I made him move from what? 5 to 17250%. It's not nothing.

00:47:57.130 --> 00:47:58.300 
Tommy Salerno: And

00:47:58.789 --> 00:48:03.469 
Alexander Winkler: It ain't nothing 20 days. Look at 10 day.

00:48:04.090 --> 00:48:09.159 
Tommy Salerno: So they got some resistance. You're on like 7, yeah, 17.

00:48:11.349 --> 00:48:12.950 
Tommy Salerno: There's no news on it.

00:48:14.000 --> 00:48:17.989 
Tommy Salerno: It could just be some profit taking from the short side.

00:48:21.190 --> 00:48:25.250 
Alexander Winkler: Yeah, it's not for me. and that's high risk.

00:48:25.740 --> 00:48:30.820 
Alexander Winkler: But it is trying. Who knows who knows? A lot of desperate people probably trying to trade it.

00:48:32.559 --> 00:48:35.070 
Alexander Winkler: It's not okay, volume. And

00:48:38.050 --> 00:48:49.119 
Tommy Salerno: yeah, that's all I had. That's all. Pretty much. I had to date the day just kind of kind of same thing as last last week.

00:48:49.550 --> 00:48:52.588 
Alexander Winkler: Yeah, I'm trying to stay. No trying to stay out of a drawdown.

00:48:53.130 --> 00:48:54.030 
Tommy Salerno: That's it.

00:48:54.360 --> 00:48:57.809 
Alexander Winkler: Yeah. Don't I agree?

00:48:57.929 --> 00:48:58.960 
Tommy Salerno: Yeah.

00:48:59.150 --> 00:49:07.889 
Alexander Winkler: alright. Then I guess we'll be back at the grind tomorrow, hopefully, we get another another decent ticker. I would love that

00:49:08.340 --> 00:49:09.670 
Alexander Winkler: and hopefully

00:49:10.150 --> 00:49:15.950 
Alexander Winkler: and move it pops when I'm online. But if not, so be it.

00:49:16.829 --> 00:49:25.200 
Tommy Salerno: join the anyone who's watching join the discord. you guys can sign up for a trade journal.

00:49:25.800 --> 00:49:29.298 
Tommy Salerno: And you guys can get access to the discord community.

00:49:29.420 --> 00:49:35.369 
Tommy Salerno: a bunch of profitable traders. We'll definitely take you under your under our wing. And we'll show you.

00:49:35.659 --> 00:49:45.780 
Tommy Salerno: I'll show you a couple of the basic strategies that make money in the markets. You guys can check that trade journal dot co. you guys can sign up.

00:49:46.309 --> 00:49:54.519 
Alexander Winkler: We got the discord login. Now, too. And hopefully, we're gonna have some more integrations. I'm working on some broker Api import. So

00:49:54.550 --> 00:50:05.230 
Alexander Winkler: hopefully, we'll have some progress there by the end of this month we'll see. That's a little bit of a big project I've been working on. Make everything a little bit more fluid, and then we'll get more stats going

00:50:08.030 --> 00:50:09.630 
Tommy Salerno: alright. Alright, awesome.

00:50:10.050 --> 00:50:12.918 
Alexander Winkler: Alright! Take care, Tom. Good chatting.

00:50:12.990 --> 00:50:15.900 
Tommy Salerno: Yeah, alright. Take it easy, man.

A Key Trading Mindset & The 50% Trading Rule #E41

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DRC May 5, 2024

Will the "Bull Run" Continue?