🎉 Episode 35 is live, and it's one you won't want to miss! 🎧
This episode starts off with Toby's live trading of FEMY and SLNO stocks. We also delve into top gainers, risk factors, and the current trading environment. Alex shares his experience about a recent trading downdraw, and we discuss if it's a bad time to be a day trader. We also explore the tools we use for trading, like Das Trader and TOS Trading Ladder. As always, we discuss gameplans going forward and give a sneak peek into our Halloween special episode.
0:00 🎩 Beautiful Hats intro
1:05 📊 Toby Live Trading FEMY Stock
4:33 📈 Reviewing Top Gainers & Trades
7:27 🏦 Alex's Investments In This Market
11:10 📅 September Trading
15:35 📉 Alex's Trading Downdraw
17:53 ⌛ Bad Time To Be Day Trader?
23:49 📊 Toby Live Trading SLNO Stock
26:15 ⚠️ Risk Factor of Extended Stocks
27:27 🛠️ Das Trader vs TOS Trading Ladder
30:45 🧠 What Info Helps Trading
32:50 📊 DMK Stock Price Action Analysis
36:36 🖥️ Toby's New Trading Station
39:30 💡 Power of Trading & Studying Less
49:40 🏋️ Lean Into Strengths
54:31 💻 ThinorSwim Lag (Windows vs Instances)
1:02:15 🎓 Toby's New Trading Laptop Hindsight
1:05:45 📅 Gameplans Going Forward
1:13:07 🎃 Halloween Podcast Ahead!
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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Colby Warshel: aren't we all? I like that hat.
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Toby Dawson: Thanks.
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I bought it while I was drunk the other night.
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Colby Warshel: It's a good fucking purchase then.
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Alexander Winkler: I heard that part. I'm street vendor.
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Alexander Winkler: It's so good.
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Colby Warshel: I bet in time they probably have, like legit, like authentic shit on the street instead of like you go to New York, and it's like all fake Gucci and Shit.
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Toby Dawson: Oh, they got all that stuff, too. But you know, let this this have set me back like 6 bucks or something that's so nice.
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Colby Warshel: What are your monthly expenses like? How much do you spend to live there?
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Toby Dawson: Oh, shit! Oh,
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Toby Dawson: My expenses are nothing like
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Toby Dawson: maybe 1,200 bucks a month.
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Colby Warshel: Wow! That's depressing.
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Colby Warshel: that's insane.
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Toby Dawson: Oh, boy.
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Toby Dawson: vm, y. Is going going for it right now.
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Toby Dawson: Okay, am I going to get fucked here, or what
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Alexander Winkler: I heard something.
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Toby Dawson: Come on, don't keep pulling back on me.
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Toby Dawson: Oh, boy, there's all my profits for the day.
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Alexander Winkler: Do not tell me you took that
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Toby Dawson: I did. Oh, I'm in the halt down. I think, too. even better.
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Alexander Winkler: Oh, guys. can we do like no training during the podcast
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Colby Warshel: Ha. Ha.
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Toby Dawson: Oh, man, now I'm ready for the day. What the fuck!
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Alexander Winkler: What's it? FEMY. That was so brutal. It's down 17%.
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Toby Dawson: I hit that I hit that 1 5, and we'll have like 3 cents profit and then
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Toby Dawson: dump.
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Toby Dawson: Now I'm down a thousand bucks on that ticker.
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Alexander Winkler: Oh.
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Colby Warshel: oh, FEMY. There we go!
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Alexander Winkler: Oh, man!
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Toby Dawson: Oh, actually almost a thousand 100 to be
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Toby Dawson: well, I should have gone with smaller share size, apparently
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Alexander Winkler: honestly, in in this market. You you want to get green. Get going. I don't know if you're agreeing before, but it's like I cannot keep any profits in this market like, if I'm up 500 bucks, I better. I better walk over 1,000, or whatever you know, after, after, like one or 2 or 3 good green trades. If I'm green.
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Alexander Winkler: those are probably it.
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Toby Dawson: I was a I was green in pre-market 350, and all I've done is go back and forth.
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Toby Dawson: And now I'm really digging myself a hole.
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Alexander Winkler: Hmm, yeah, that sounds like one of my classic stories.
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Alexander Winkler: Yeah, I was. I was down almost 1,000 today. And then somehow, I made it back up.
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Alexander Winkler: And I'm only down or no, I'm up $130 right now. And I'm just like.
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Alexander Winkler: yeah, I needed to run. I have family visiting. That's why I was a little late today as well. So
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Toby Dawson: 2.
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Toby Dawson: I was up 300 when we started the podcast.
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Alexander Winkler: Oh, that's so painful, man. I'm sorry.
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Tommy Salerno: Whatever what? What happened to you.
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Toby Dawson: I just took the Fdmi breakout dump
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Tommy Salerno: and got smoked with a bunch of shares. Jesus.
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Alexander Winkler: yeah.
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Tommy Salerno: wow, that's nasty.
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Colby Warshel: Would you have like 3,000 shares
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Toby Dawson: I had? I had. Yeah, about this exactly.
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Toby Dawson: I'm getting. Now I'm getting smoking.
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Alexander Winkler: Yeah, this is one of those classic Comp tickers where it's like, you know, you look to the left, pops up, flushes, pops up flushes, although here popped up and broke. So it's a little little misleading, I guess, but it cleared high a day, so I thought there was a chance, but I didn't think was coming
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Toby Dawson: coming back all the way back, down to.
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Toby Dawson: you know, down to where was it? Like the 50 em a
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Alexander Winkler: Umhm?
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Toby Dawson: Well.
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Toby Dawson: I did pretty good on the
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Toby Dawson: as L, and O,
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Tommy Salerno: yeah, SLNO,
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Tommy Salerno: yeah, that was a crazy one market. I was not expecting that I was just like sitting back watching it. After that I thought it was going to be like a hot day
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Tommy Salerno: but it seems like after they open like everything, just started dumping or getting choppy.
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Alexander Winkler: So it was. It was a tough book, and
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Toby Dawson: I called it. I called it super early, too.
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Toby Dawson: and then I made. I was like instantly up 300 bucks on, and then I went out to dinner. Cause I was like, Okay, I'll just take a break.
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Toby Dawson: and then and then I came back and saw ran all the way to what? Like 25 bucks or something.
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Toby Dawson: So then I I probably should have just shut the computer off. That was, I was high a day like 305, buck, 350 bucks.
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Alexander Winkler: Yeah, that's not bad, I think. You know, that's a pretty solid green day in this market, based on maybe. Some averages.
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Alexander Winkler: And
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Alexander Winkler: yeah, I was. I was kind of red all day. So II wrapped up pre-market like, like usual, because I didn't see any activities. And then a bunch of stuff happened. I saw in the discord I logged in, and I took like a big loss trade right away. And I was like,
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Alexander Winkler: II gotta wait till the market opened, and that's that's what I did. And then I actually went even more red, I think, on Sl. And now, right out of the gate I took a bunch of trades on snl, or actually only 2 trades. But I got caught in this flush.
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Alexander Winkler: and in this halt I bought here at the top for the breakout and then open lower. So I just do back to back trades. I was down. I don't know, I think, on this ticker like 500. Not so much
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Alexander Winkler: because I didn't use that big share size only 300 shares here and 100 shares in this hall.
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Alexander Winkler: And then this trade right here. Got me back green on, not on this taker, but just in general, because I bought here on this pull back.
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Alexander Winkler: And I was I was even holding here at 25, and then it pulled all the way back.
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Alexander Winkler: I took some profits, and then I closed the rest of like 23 or something somewhere in this area.
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Alexander Winkler: But if this broke over 25 and got halted, or something like that, that could have been a really nice win, because that was green here on the piano in the day, on a very small size.
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Alexander Winkler: But yeah, tricky stuff. my investment portfolio is down $20,000.
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Toby Dawson: It's been brutal out there. Every trade I made on snl was the green trade. Today. I didn't take one
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Tommy Salerno: nice, very nice. I'm the opposite. I have a 30% win rate today.
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Tommy Salerno: Still, load still ended up green. But yeah, 30% win rate.
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Tommy Salerno: I had one Soliton. FM, y. The first 1 min candle, first one green candle at 9, 30, and then just started giving back since then. But
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Tommy Salerno: Is that a investment portfolio? Is that just on the day. Or is that all time?
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Alexander Winkler: That's all time? I just keep buying stocks in that one just constantly. Whenever I have like funds laying around, I'll just buy more. But it's like some tickers
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Alexander Winkler: have just only been
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Alexander Winkler: on
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Alexander Winkler: And I
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Alexander Winkler: so it's I don't know I'm I'm it's like I'm not planning to sell anything there for at least a year or 2. But
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Alexander Winkler: yeah, that's a little painful portfolio.
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Alexander Winkler: because the spy has so much more to go down potentially. But some of these companies are down so much already. I figured these are good names. But
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Tommy Salerno: what do you? What do you have? What are you holding
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Alexander Winkler: all sorts of stuff? Like Indie Sofi. Here, you can see I was buying Indie like originally here
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Alexander Winkler: and buying all the way down. Yeah.
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Alexander Winkler: so far, I think I just started accumulating some. So just like right, I'll only have one share that I bought. This was like an alert. Sometimes I'll have like an alert order that goes out and I buy.
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Alexander Winkler: Oh, yeah
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Alexander Winkler: thing, things like that. Snow! This is another company. I bought
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Alexander Winkler: it should show up. I don't know why it doesn't, but I bought this one. I started accumulating it somewhere here. So I'm down like 10% on this one or or it was maybe here I started accumulating, and I'm not really sure. But yeah, just stuff like this. And
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Alexander Winkler: the portfolio's kind of
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Alexander Winkler: large. It's like $80,000, roughly. But
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Alexander Winkler: so it's only down. Well, it's $80,000 now. So it's down like 20%.
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Alexander Winkler: I would say, maybe maybe 25%. But yeah, it's like everything I buy. It just keeps going down. So I don't know. Don't take investing advice for me. So II stick to day trading. Everything else is is I don't know. It's a big question, mark. Better to buy. Just put your money in freaking Yoda bank and get your lottery tickets or something. It's ridiculous.
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Toby Dawson: You just gotta buy this. You're you're all tech.
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Alexander Winkler: Yeah, that's a big problem. I'm I'm mostly tech. I think the one thing
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Toby Dawson: that's market and
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Toby Dawson: where it's gone.
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Alexander Winkler: Oh, yeah, yeah, it's my my fault. I went a little bit too risky in my investment portfolio. But the thing is, I like a lot of tech, was already down like 70, 80, 90% but I started accumulating a lot of my tech positions after that
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Alexander Winkler: potentially dead cat bounce we had. And then we had like a pretty nice pull back. And I just started really buying heavy a lot of positions there.
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Alexander Winkler: Unfortunately, I just realized my screen still sharing. Unfortunately, yeah, it. Like, you know, we had like a big support zone. There was like a tiny pop pop. I'm like accumulating ready for that second leg up. And it was just like 2030% flushes. And I was like. Oh.
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Alexander Winkler: but I'm sure most of it will come back as long as the companies don't go bankrupt. But let's let's hope that doesn't happen. I don't know.
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Tommy Salerno: Yeah.
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Alexander Winkler: Been tough out there.
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Tommy Salerno: I'm excited for sure.
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Alexander Winkler: Yeah, the September vibes to to go away. It's just like such a hard month. It's my worst month since I started trading small caps in 2,019.
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Alexander Winkler: It's crazy. But I guess that's gonna always happen right. You're always gonna have your worst month ahead of you.
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Colby Warshel: How big of a drawdown are you in?
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Alexander Winkler: Actually don't even know the exact number. But I could pull it up.
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Alexander Winkler: It's it's definitely sizable. This month. I'm down like 7 K, or something like that little bit more, maybe.
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Alexander Winkler: Yeah.
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Alexander Winkler: Where'd you guys go
00:11:24.379 --> 00:11:38.358
Alexander Winkler: there we are need to put you guys on my second screen. So I keep seeing everyone. Yeah, I'll pull it up but in the meantime, you know, how are you guys doing out there like anything new? I know, Toby, you've been gone for for a little bit smart, taking this month off kind of
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Toby Dawson: I was. I've been doing pretty good until
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Toby Dawson: well, until today, I guess we'll just good basis every day.
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Toby Dawson: Couple 100 bucks.
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Alexander Winkler: Yeah, I noticed you weren't sticking around too long. So not to kind of overstay your welcome.
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Toby Dawson: Yeah, if I if I you know my, I don't really have a daily goal. But if it's, you know, a couple of 100 bucks.
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Toby Dawson: and the market's been so trash that just seemed like better just to take the money and run and enjoy the rest of the evening, or
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Toby Dawson: wait till the next trading day.
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Alexander Winkler: Yeah.
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Alexander Winkler: I think that's really what it is. Just kinda get green, get get going, cause it's like what I've really noticed is I've lost. I don't know what it is, but I feel like my ability to like, identify.
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Alexander Winkler: like when I should trade or not has like deteriorated. And I've been trading all sorts of nonsense. So I was like, I need to limit my exposure if I don't see something that is like my default, you know. Bread and butter I need to get out of here
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Alexander Winkler: cause if it's if it's if nothing's moving, I'll just start trading some complete nonsense for no reason. I know I'm better than that, but I think I just get bored, and if I'm looking at the market. It's
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Alexander Winkler: I don't know. I need to practice self discipline. So I just need to close my to us when happening. That's what I've learned.
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Tommy Salerno: Did you check place any pre market trades in SLNO,
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Alexander Winkler: I did.
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Tommy Salerno: That was sort of right up the rally right right around that time zone that time area that you
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that you trade?
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Alexander Winkler: Actually, no, I didn't trade this one. But yeah, no, typically, it is like
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Alexander Winkler: II closed my tous, I'll share my screen quickly.
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Alexander Winkler: literally like at 7 30. So it wasn't really on my scanners yet. It probably just popped up in my scanners around 7 30, but it wasn't something I'd be looking at till around like 7 35 37.
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Alexander Winkler: But then at this point there's like not a lot of volume. So I'm not super crazy about a ticker like this.
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Alexander Winkler: But I would probably start watching it here.
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Alexander Winkler: Yeah, that I was. I was off line.
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Tommy Salerno: But
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Alexander Winkler: technically, it was pretty nice pre-market, and it
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Alexander Winkler: sometimes, when you see a ticker, this, this active pre market, they tend to not perform so well at the open.
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Alexander Winkler: holding as high as 300. Wow.
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Toby Dawson: yeah, it's consolidating quite a long. That's crazy.
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Tommy Salerno: Blow up
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Tommy Salerno: kind of nuke an account dude. I never did it before.
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Tommy Salerno: This is the moment.
00:14:31.000 --> 00:14:33.848
Alexander Winkler: Wow! The Daily is just so crazy on this ticker.
00:14:35.919 --> 00:14:39.668
Colby Warshel: Oh, wow! Damn! That's a lot of resistance.
00:14:40.480 --> 00:14:43.048
Colby Warshel: There's a lot of money stuck in there.
00:14:43.230 --> 00:14:48.209
Alexander Winkler: although it does have these kind of multi freaking month runs, which is pretty impressive.
00:14:48.449 --> 00:14:49.819
Colby Warshel: What's the phone?
00:14:49.990 --> 00:14:54.608
Tommy Salerno: You don't really see that are you sure it's still the stock, though
00:14:54.970 --> 00:14:56.899
Alexander Winkler: below 10 million, am I? What
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Tommy Salerno: are you sure that that's still the stock? Or if it just changed the ticker symbol.
00:15:02.180 --> 00:15:04.489
Or you know, if that's a previous company.
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Tommy Salerno: Oh, yeah, a different company. You don't know.
00:15:08.559 --> 00:15:18.048
Alexander Winkler: I don't think that would be the case with this one. Sometimes you'll see that. But you'll see like a like a dead strip where nothing happened for months or something
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Alexander Winkler: doesn't seem like this one
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Alexander Winkler: mean. Hmm!
00:15:23.349 --> 00:15:24.358
Alexander Winkler: I don't know.
00:15:25.660 --> 00:15:32.480
Alexander Winkler: This is 2017. Dive back here. The new just doesn't go back that far. Yeah. But
00:15:33.680 --> 00:15:44.930
Alexander Winkler: but yeah, this is major resistance. Here. Huh? We got like big support around 20 again and again and again, although there was a reverse split so or actually split. Sometimes I
00:15:45.500 --> 00:15:49.329
Alexander Winkler: it's hard to like value those supply zones
00:15:50.190 --> 00:15:51.180
Alexander Winkler: after that.
00:15:54.160 --> 00:15:54.970
Alexander Winkler: Yeah.
00:15:56.990 --> 00:15:59.680
Alexander Winkler: Hmm. Wants to think about
00:16:01.269 --> 00:16:05.079
Alexander Winkler: oh, yeah. So here I could share it again. Actually, let me
00:16:06.859 --> 00:16:09.229
the joys. So
00:16:10.779 --> 00:16:16.889
Alexander Winkler: oh, my God, yeah, there's there's Edx right here. Then, minus 5,000 a day.
00:16:17.420 --> 00:16:27.329
Alexander Winkler: So yeah, I don't know. I had a high here 140,000. And now I'm at like 133,000. So yeah, like a $7,000 drawback.
00:16:27.379 --> 00:16:34.048
Alexander Winkler: It's it's not too bad. It's just like what's what's been kind of damping my mood a little bit is like.
00:16:34.359 --> 00:16:38.430
Alexander Winkler: in a way, I haven't really made much progress in like a year.
00:16:38.579 --> 00:16:45.058
Which you guys know, I've been kind of complaining about this for a while that this year has been a little bit of a wash for me.
00:16:45.339 --> 00:16:52.168
Alexander Winkler: I mean, technically, I'm up, but it's it feels like it's been a whole one step forward, one step back kind of year for me.
00:16:52.299 --> 00:16:55.878
Alexander Winkler: Probably I would say, because Q. One
00:16:56.359 --> 00:16:58.970
Alexander Winkler: was really hectic.
00:16:59.470 --> 00:17:08.769
Alexander Winkler: We had, you know. some very personal family issues. I was with my my girlfriend's family.
00:17:09.069 --> 00:17:29.568
Alexander Winkler: There was a passing in the family. So we spent like 2 months in South Germany, and I was very distracted. And then, at the same time, I was trying a different strategy of holding longer. So like and like half a Q. 2, I was fully somewhere else with my head, plus I was trying something different. So I think that's a big reason the whole year started really bad for me.
00:17:29.680 --> 00:17:34.729
Alexander Winkler: yeah, it was basically just 0 profits for like 4 months
00:17:34.910 --> 00:17:46.139
Alexander Winkler: during during what typically is one of the hottest months of the time periods of the year. And then I had like a little bit of a green streak when I was like, Okay, I need to get back to the basics, get green, get out
00:17:46.670 --> 00:18:00.990
Alexander Winkler: my classic strategy. And that's when things got a little bit good. And then August. Yeah, nothing really happened. In August I was also away. I think I had like a handful of trading days, and all of August I was mostly gone. Yeah. And then, you know, September has just been
00:18:01.559 --> 00:18:05.940
Alexander Winkler: pretty brutal so far. But I yeah.
00:18:07.519 --> 00:18:11.759
Alexander Winkler: nothing too different. Like my stats are pretty typical other than that.
00:18:12.539 --> 00:18:22.538
Alexander Winkler: and I hope we can end the year strong. I don't like that. My pnl curve is just going like, or my nominal pnl, like, you know, I had my biggest month.
00:18:22.700 --> 00:18:27.449
Alexander Winkler: basically 2 year, 2 and a half years ago. It's disgusting. Wow.
00:18:29.710 --> 00:18:38.509
Colby Warshel: yeah, it's weird to kind of think back and be like, where are we right now in the stock market terms of history and everything like that? It's like
00:18:38.649 --> 00:18:48.709
Colby Warshel: we could be in a point where it's just gonna be really bad. For a while. We've been saying this for so long, but there's no point in trying to predict it and be like, oh, this is gonna be the worst time ever. But
00:18:49.899 --> 00:18:58.279
Colby Warshel: it's always in the back of my mind that it's totally possible that I decided to learn how to be a day trader in the worst possible time
00:18:59.019 --> 00:19:01.778
Alexander Winkler: to ever learn to be a day trader. I wonder? I don't know.
00:19:02.349 --> 00:19:30.428
Alexander Winkler: It's definitely one of the hardest times, for sure, and I don't know. I keep thinking what Tim Sykes says is like. You have to be like a retired trader, and if that means not trading for a couple of months, I mean, like, I think, for us, like we could do the more Ross Cameron style, you know, get green, get going, and just kind of stay active. But ultimately like there's no reason to keep over trade when the market is not good. And right now the market's not good. So why, why am I trying to, you know, hit new highs and all this stuff like during the worst period of time.
00:19:30.430 --> 00:19:37.118
when, if I just wait, you know, during at least a hot month, where you can make a mistake. But you still walk away green on.
00:19:37.119 --> 00:19:50.279
Alexander Winkler: It's just much more favorable. And like, I think all of us have the skill set to do that at this point. We're just all so antsy to like really grow as traders, and Pnl is kind of the scoreboard. So we're like forcing these positions that are totally nonsense.
00:19:52.670 --> 00:19:57.940
Tommy Salerno: That's my theory. App agree with you on that.
00:19:58.450 --> 00:20:08.379
Tommy Salerno: But I do think I do think that the market's just gonna get more and more volatile. And I think it actually, in a sense, it is easier to be a day trader now than it was 10 years ago.
00:20:08.549 --> 00:20:10.449
Tommy Salerno: In a sense, in some way
00:20:11.109 --> 00:20:14.519
because of the no commissions and
00:20:14.849 --> 00:20:20.259
Tommy Salerno: you can kind of grow. You can grow an account. A small account on moves
00:20:20.450 --> 00:20:23.709
moves that are happening every day, that in the small caps
00:20:23.930 --> 00:20:31.358
Tommy Salerno: well, pretty much regular, I would say every day right now. But you know we've had moments where few months we'd have consistent action.
00:20:31.369 --> 00:20:42.480
Tommy Salerno: and you can grow a small account fairly easy. If you do have a profitable strategy. So in a sense it is, I do II could see someone being able to argue that it is actually easier
00:20:42.549 --> 00:20:44.568
Tommy Salerno: to be a trader now.
00:20:44.710 --> 00:20:52.638
Tommy Salerno: and going into the going into the future. I would think that there's going to be more consistent action
00:20:52.690 --> 00:20:54.408
Tommy Salerno: in small caps.
00:20:54.599 --> 00:21:00.639
Tommy Salerno: there's a lot more success stories now than there was 10 years ago. 5 years ago.
00:21:00.710 --> 00:21:03.869
Tommy Salerno: More people, you know, see the potential in it.
00:21:04.099 --> 00:21:06.569
Tommy Salerno: And I do also think that with
00:21:06.869 --> 00:21:10.049
Tommy Salerno: the inflationary period
00:21:10.099 --> 00:21:14.578
that just stocks in general are going to be a lot more volatile
00:21:14.829 --> 00:21:18.440
Tommy Salerno: due to just the amount of dollars
00:21:18.639 --> 00:21:21.170
that can be chasing some of these stocks
00:21:22.569 --> 00:21:23.960
Tommy Salerno: that are in play.
00:21:24.099 --> 00:21:26.210
Tommy Salerno: But that's just my kind of theory as well.
00:21:27.119 --> 00:21:31.129
Colby Warshel: Man, Tom is just so good at being optimistic. It's great.
00:21:32.089 --> 00:21:34.189
Colby Warshel: We need more people like you, Bro.
00:21:34.210 --> 00:22:02.349
Colby Warshel: Cause like you could cause. You could easily argue any any side. Really, you could be like. Well, it's much easier to trade now. There's no commissions which makes you over trade more, which makes it harder to be a trader, or it's easier to trade now, because there's more clearing houses that are doing algorithmic trading. And they make the market much more like, electronic compared to mechanical like it was before, you know, you could really do. Look at it, anyway. And that's just like how everything isn't life. But
00:22:02.549 --> 00:22:03.490
Tommy Salerno: yeah.
00:22:03.700 --> 00:22:19.449
Alexander Winkler: there's not really a point of sitting here trying to be a day trader and being like, Oh, it's fucking impossible. It's really fucking hard. It's, you know, this is terrible, and the worst time ever like, what are you gonna do? Just fucking? Just quit. Then, if you're gonna say that every day. But yeah, I totally agree. You gotta be optimistic to some extent, for sure.
00:22:19.519 --> 00:22:38.220
Alexander Winkler: I think what I'm just trying to do is understand that re market exposure has been killing me. So I've been trying to reduce over staying and looking at a desert and then seeing something beautiful that doesn't exist. That's where my mistakes have been coming from. But yeah, I actually agree with Tom. There's there's
00:22:38.329 --> 00:22:47.619
Alexander Winkler: there's tons of opportunities. And I think I all I specifically hear with the part where, like, I think, investing is getting very tricky, and it's like.
00:22:47.950 --> 00:23:01.298
Alexander Winkler: well, it's I think it's always been tricky. But right now the market is so high it's just so sketchy to try to buy on hold. And it's also not really a good way to really make money like it's really like a long term thing. So I think day training is like a very popular
00:23:02.059 --> 00:23:05.888
Alexander Winkler: are popular thing in in that regard. So
00:23:06.879 --> 00:23:24.210
Alexander Winkler: there's probably gonna be a lot of volume at 1 point coming back in some really good tickers. I mean, we've been having some amazing tickers again, you know. So it's it's only a matter of time till one that's like a little bit cleaner, or one that you vibe with a little bit more. And then, you know, you have that really big streak.
00:23:24.230 --> 00:23:29.378
Alexander Winkler: So and I think we're close like, we haven't seen action like this in a in a while, which is really refreshing.
00:23:30.269 --> 00:23:44.460
Colby Warshel: It seems like a lot of your a lot of the cycles and small caps are just getting shorter like it was like if there was a hot cycle in January. It was like, maybe like 3 weeks. And now it seems like it's only like maybe a week or 2 maximum.
00:23:45.029 --> 00:23:46.259
Tommy Salerno: It's less than a year
00:23:46.500 --> 00:23:51.670
Colby Warshel: like how do you? How are you supposed to be able to identify that unless you have a decade of experience?
00:23:52.549 --> 00:24:22.410
Alexander Winkler: Even then it's stuff I mean Ross had is, you know, not a big red day. But yesterday, when we had such a nice ticker that was up, you know. Couple 100, you know he was down on it, and we had. We talked about this on the pod as well in the past, you know. It's like a new hot ticker, and a lot of really good traders are red on it, cause it's just like totally out of the blue Andones really ready for it, and nobody trusts it right. Cause you. You see all those tickers that spike up 200. But whack! Back down. So the first one actually holds. You're just like, hold up, what is this?
00:24:22.789 --> 00:24:24.519
Tommy Salerno: Yeah, yeah.
00:24:28.859 --> 00:24:29.980
Alexander Winkler: And
00:24:30.359 --> 00:24:37.500
Alexander Winkler: I'm I'm I'm not trading anymore. Today, I was just looking at different takers is Toby looks like you might be trading.
00:24:37.509 --> 00:24:40.940
Toby Dawson: Oh, man, without not bad.
00:24:41.089 --> 00:24:46.700
Toby Dawson: 750.
00:24:46.710 --> 00:24:48.519
Tommy Salerno: Oh.
00:24:48.950 --> 00:24:51.399
Colby Warshel: God damn! That was okay.
00:24:52.309 --> 00:24:54.148
Toby Dawson: Let's see how Red swam.
00:24:54.599 --> 00:24:56.859
Toby Dawson: I'm a hundred dollars down for the day. Now.
00:24:56.940 --> 00:24:58.750
Alexander Winkler: nice wow!
00:24:58.809 --> 00:25:03.279
Alexander Winkler: Sometimes it takes a red train to really get 400 on. So sl no
00:25:04.109 --> 00:25:12.818
Toby Dawson: and then throw it all away on.
00:25:14.529 --> 00:25:18.859
Alexander Winkler: Good thing. You cut your losses, though, on that tiger. That thing is only been going down since you sold.
00:25:21.450 --> 00:25:26.239
Toby Dawson: I I couldn't get rid of my shares because the spread was so big on snl.
00:25:26.549 --> 00:25:27.529
Alexander Winkler: Yeah.
00:25:27.879 --> 00:25:29.078
Toby Dawson: that's how I know
00:25:29.289 --> 00:25:32.178
Alexander Winkler: the the spread on that taker is a beast I could've
00:25:32.319 --> 00:25:36.809
Toby Dawson: I could have made about a dollar on a dollar share.
00:25:38.059 --> 00:25:38.779
Toby Dawson: but
00:25:39.079 --> 00:25:41.079
Toby Dawson: couldn't get out
00:25:42.129 --> 00:25:50.109
Tommy Salerno: when when I was
00:25:50.519 --> 00:26:01.269
Alexander Winkler: yeah. So when I was trading sl. No, I was. I was also kind of holding for a breakout at around 25 kind of mentioned this for a second. But it was.
00:26:01.629 --> 00:26:05.619
Alexander Winkler: Your share screen is loading. Okay, wasn't loading. Yeah, it was like right here. And
00:26:05.670 --> 00:26:11.079
Alexander Winkler: I was, I was up like already, almost 10% on this one. And I was looking for that breakout.
00:26:11.129 --> 00:26:21.108
Alexander Winkler: But yeah, the spread really got me, because the second it didn't break out. We just pulled back, you know, like 7, pretty brutally. And then I kinda got out most of my shares right around here.
00:26:21.149 --> 00:26:36.629
Alexander Winkler: So a little bit unfortunate. But yeah, the the spread on this one's really quick. You could. You could almost just spread trade it. But that's not really something I like to do, because I mean, these little candles are pretty solid, less now than it was over here. But cause I mean, look at this, this pull back move.
00:26:36.660 --> 00:26:47.849
Alexander Winkler: It's like 16, you know, since insane. But yeah, that's all I wanted to say, spread is crazy. You get in the wrong spot, and those those to pull away from you. You.
00:26:48.039 --> 00:26:50.449
Toby Dawson: It's it's real tough, real, tough, fast
00:26:50.889 --> 00:26:52.279
Alexander Winkler: freaking, brutal.
00:26:52.430 --> 00:26:54.589
Tommy Salerno: hard to
00:26:54.670 --> 00:26:56.210
Toby Dawson: your risk.
00:26:59.440 --> 00:27:12.680
Tommy Salerno: Yeah, that's the one of the those types of stocks that I actually but struggled. I still struggled with those types of stocks, because it's the risk factor. You don't really know how much you're risking, you may say, like, Oh, I'm only risking 20 cents.
00:27:12.750 --> 00:27:18.148
But if it's a $25 stock you're really risking. You could be risking up to $2, and you don't even know it
00:27:18.660 --> 00:27:25.990
Tommy Salerno: just because of the how fast the level 2 changes, and if the level 2 will skip, will skip 50 cents.
00:27:26.859 --> 00:27:31.049
Toby Dawson: Yeah, those beds pull away and you're stuck and they won't come back up.
00:27:31.899 --> 00:27:33.098
Alexander Winkler: Yep, yeah.
00:27:33.349 --> 00:27:47.818
Alexander Winkler: yeah, that's exactly the problem. And that's why I was kind of nervous when I was trading it. Because I I'm so I have Ptsd from Ed. Tx. And like, yeah, if it tickers up 300, 500, you know, 10, like, 1,000.
00:27:47.819 --> 00:28:03.658
Alexander Winkler: Like, yeah, you're risking that halt down that just gets halted again. And then, you know, it's down 50, 60, 70, because it can. And it will. And it probably will happen even. Maybe it's gonna happen extended hours. But you know, at that point, when something's up 10 x, it's usually
00:28:04.079 --> 00:28:14.910
Alexander Winkler: that's usually the point where you you kinda want to be very careful. Probably leave. II kind of wrote that rules now to just totally leave anything that's up that kind of level.
00:28:15.849 --> 00:28:20.619
Alexander Winkler: Say, what?
00:28:20.940 --> 00:28:24.118
Tommy Salerno: Yeah, I was. Gonna say, my biggest losses are the ones that
00:28:24.190 --> 00:28:34.678
Tommy Salerno: it's going like straight up. And I just I buy, and it's like an instant halt down, and I can't even I can't sell at all like can't sell for small loss, can't sell, break even.
00:28:34.960 --> 00:28:38.608
Tommy Salerno: It's just as soon as I hit by. It's just instant hall
00:28:38.839 --> 00:28:45.250
Alexander Winkler: dude. Yeah. Using using dos. Trader.
00:28:46.569 --> 00:28:53.039
Tommy Salerno: Oh, yeah, that that's helped me a lot. It. It's helped me a lot with the larger spread stocks, because it's all.
00:28:53.089 --> 00:28:57.048
Tommy Salerno: I can easily see it all like right next to each other.
00:28:57.250 --> 00:29:03.928
Tommy Salerno: and it's like E. It's easier to visualize the momentum and your injuries and exits. Because on thinkorswim
00:29:04.069 --> 00:29:27.910
Tommy Salerno: unless you hit that minus button where it like brings it down from a Se. From one penny spread, or that like one penny increments to 5 cents, increments to 25 cent increments. I don't like using that just cause I just can't see all the orders. And if you're not gonna use that on one of those larger spread stocks, the bid could be off the screen. And you you might not know
00:29:27.950 --> 00:29:31.229
Tommy Salerno: what the what the bid price is anymore.
00:29:31.240 --> 00:29:32.348
Alexander Winkler: or to ask.
00:29:33.950 --> 00:29:36.799
Alexander Winkler: So that's why.
00:29:37.690 --> 00:29:56.778
Alexander Winkler: Yeah, I have the same problem. And then if you use a hockey like by the bid, which I do sometimes cause I don't see the bid on the ladder. It's literally the second. The bid pops up 5, 6, 7, he buy there and then it pops back down again.
00:29:56.889 --> 00:29:59.199
Tommy Salerno: I definitely make my money
00:29:59.670 --> 00:30:08.289
Tommy Salerno: by having a subscription. I definitely make my money back at at minimum, either with avoiding losses or making gains.
00:30:08.609 --> 00:30:12.519
Tommy Salerno: so I think it's worth it for someone who trades my style.
00:30:13.259 --> 00:30:18.710
Alexander Winkler: I think so, too, for sure I'll probably get it. Pretty soon. Here once I have a little bit more
00:30:19.000 --> 00:30:21.469
Alexander Winkler: focus time here.
00:30:22.119 --> 00:30:26.500
Tommy Salerno: but I mean even alone, just for the for the halts
00:30:26.769 --> 00:30:43.358
Alexander Winkler: the in balance. It's I mean, that's that's so nice. I there's nothing like being in a hold of not knowing what's gonna happen. But you have like that really good indicator like, okay, it's gonna open higher. Well, it gives you a lot of you could start really thinking your game plan ahead of time instead of like being super reactive. The second it opens.
00:30:43.660 --> 00:30:45.589
Tommy Salerno: Yeah, yeah.
00:30:46.099 --> 00:30:51.819
Alexander Winkler: So that is super valuable. I never treated halts that much. But lately they're so common that. I think I
00:30:51.930 --> 00:30:58.778
Alexander Winkler: I think that's that's fundamental in your in your training arsenal at this point to know that
00:30:59.569 --> 00:31:03.430
Colby Warshel: it's kind of funny, just randomly, that's like pay to win.
00:31:03.710 --> 00:31:18.940
Colby Warshel: You guys know, like video games. People are like, Oh, you buy the skins they like, give you easier lobbies, or like you'd like, put money into a video game they like. are you like, there's a like class of clans or some dumb shit like that. You can like buy like a massive army or some shit.
00:31:19.269 --> 00:31:25.078
Colby Warshel: It's funny out in trading, like, how many resources can you buy that will actually make you more money?
00:31:26.230 --> 00:31:30.569
Alexander Winkler: Oh, yeah, for sure. I think there's a lot of them, too.
00:31:30.670 --> 00:31:38.359
Alexander Winkler: but yeah, that retail. You're you're kind of limited at 1 point, you know. You're a little bit at the whims, which which I think is totally like fine to some extent, like
00:31:38.359 --> 00:32:03.350
Alexander Winkler: you can make tons of money being a retail trader. So I'm I'm not too worried about it. And a lot of the information I feel like at a certain point isn't really helping you. It's like, it's like reading the the news of a company like that will hurt your trading like as long as you know. It's it's a news, and maybe it's a big news like it's a partnership with Google or partnership with the government of you know, the country. And it's like a little biotech like those are typically good news. And that's
00:32:03.350 --> 00:32:20.038
Alexander Winkler: that's all you need to know. There was a time when I first started, and I'd try to like, really understand the news. And then I would create all these biases around the stock, and then the ticker would be doing XYZ. And I'd be like, no, I don't trust it. Based on the news. I read like, who cares what the news? Red like the stock is up, and it's it's trading like freaking traded.
00:32:20.069 --> 00:32:29.058
Colby Warshel: Someone told me today that there was a study where they like gave horse erasers. More information. And they actually performed worse. Just like exactly what you said.
00:32:29.399 --> 00:32:30.450
Alexander Winkler: Oh, yeah.
00:32:30.600 --> 00:32:36.290
Alexander Winkler: that's interesting. But yeah, I don't know what it was. The guy just kind of mentioned it randomly.
00:32:36.430 --> 00:33:05.669
Alexander Winkler: Oh, yeah, II definitely see that. I mean, like over over stimulating er paralysis through analysis. And you know, anytime you speak to, an I'll go trader. I'm sure we'll talk to Lawrence again soon here, but he or every like cause I was really big into. I'll go trading for a few years before I started trading small caps and any book I read on, I'll go trading oops. I'm raising my hand. Any book I read on I'll go. Trading was always about like, how do you cut out the noise like, what do you? What indicators? Or like? What you know?
00:33:05.720 --> 00:33:08.749
Alexander Winkler: Few things can you use to figure out the price? Because
00:33:08.819 --> 00:33:15.600
Alexander Winkler: the the second you give the bot more than like one very clear buy signal. Everything just breaks. So
00:33:16.970 --> 00:33:26.129
Alexander Winkler: yeah, I guess us as humans, we're kind of the same way, right? We're just looking for that really clear indicator. In the second, you have 2 indicators on your chart. You're probably doing something wrong.
00:33:27.569 --> 00:33:34.368
Alexander Winkler: Most really good traders don't have a lot of indicators on their chart. Look at the Dmk here, moving up like crazy.
00:33:38.060 --> 00:33:39.538
Alexander Winkler: You guys, seeing this.
00:33:40.430 --> 00:33:41.769
Yeah, I'm looking at that.
00:33:42.799 --> 00:33:47.019
Alexander Winkler: This is actually quite tradable. That's really decent. Price actually, volume
00:33:51.939 --> 00:33:53.580
might have to jump back on.
00:33:53.629 --> 00:33:59.229
Alexander Winkler: Oh, there's no way I want to touch this one. But it's not too bad
00:33:59.580 --> 00:34:03.129
Alexander Winkler: that while the daily chart is just horrendous. Look at that.
00:34:03.790 --> 00:34:07.100
Colby Warshel: That thing is just fucking, waiting for a bag holder.
00:34:07.140 --> 00:34:11.120
Alexander Winkler: It's getting more. It's going back. Holder shopping.
00:34:11.250 --> 00:34:18.739
Colby Warshel: Yeah, literally, it's fucking, climbing, and looking. Mount Everest especially did not go to the top. And if it does, jumping down oh, my God.
00:34:19.540 --> 00:34:26.920
Alexander Winkler: yeah, no, this is something about drug addiction. Opioid drug did this. This ticker is the drug. This is the
00:34:28.640 --> 00:34:31.509
Alexander Winkler: crack cocaine for all the people still trading
00:34:31.900 --> 00:34:42.519
Alexander Winkler: up 160. That's crazy, though. I mean, that's a 1230 am Eastern Santa. I mean, this is a solid midday runner. That's
00:34:42.530 --> 00:34:47.749
Alexander Winkler: that's actually quite impressive. I mean, we're talking about 30 plus minutes here of decent front side action.
00:34:50.300 --> 00:34:54.150
Colby Warshel: What was the other ticker's catalyst? The SLNO. Or whatever it was
00:34:55.040 --> 00:35:01.010
Alexander Winkler: A lot of takers today. Had some sort of pharmaceutical news. Let's see.
00:35:01.620 --> 00:35:07.490
Tommy Salerno: I had this written down somewhere. Let me see if I can find my notes.
00:35:07.680 --> 00:35:14.219
Alexander Winkler: Oh, yeah, is a biotech with positive results from a clinical trial.
00:35:14.769 --> 00:35:15.430
Colby Warshel: Hmm!
00:35:18.090 --> 00:35:28.970
Alexander Winkler: I think that's at least what I wrote down. Let's see how accurate I was. Sometimes I write it down way, too fast results. Yeah. Positive results from colon
00:35:29.269 --> 00:35:38.919
Alexander Winkler: study. I don't know again, like. There's a time I used to run read in depth on these studies and other things, and it only did me harm. So as long as I know there's a catalyst.
00:35:40.360 --> 00:35:53.309
Colby Warshel: Be awesome if you could back test something in small caps where you're like, how often, after a 250% runner with volume over 50 million shares traded per day. Do we have
00:35:53.330 --> 00:36:01.889
Colby Warshel: A ticker that is above 40% for the next 2 weeks, or something like that to like gauge sector, or to just gauge the momentum of the entire small cap market.
00:36:01.990 --> 00:36:10.759
Alexander Winkler: Really, I would be nice to dissect that a bit more, I mean, in a way that's a little bit like getting into what Steven Duck's does right? He gets really specific about.
00:36:10.900 --> 00:36:12.530
Toby Dawson: Thank you. Alex.
00:36:13.240 --> 00:36:17.429
Toby Dawson: The Mta just made me 400 back to Green.
00:36:17.550 --> 00:36:20.230
Tommy Salerno: No way anyone drinking that.
00:36:20.290 --> 00:36:22.470
Tommy Salerno: So 25 years.
00:36:24.380 --> 00:36:32.379
Alexander Winkler: Let's go, hey? That was a perfect pull back back to the 90 email, 7 7,500 chairs and just
00:36:32.540 --> 00:36:36.860
Toby Dawson: wrote it back up and jumped out. Done the day. Now.
00:36:37.140 --> 00:36:41.900
Alexander Winkler: yeah, dude. Wrap it up. Nice little well.
00:36:42.430 --> 00:36:51.200
Toby Dawson: holy shit fucking Toby just caught that fucking bull. He's fucking lass of that shit.
00:36:51.750 --> 00:36:58.190
Tommy Salerno: Wait, Toby, don't you want to trade snl now? I do badly, but I'm not going to look at it.
00:36:58.450 --> 00:37:01.769
Alexander Winkler: Gonna look at it!
00:37:01.910 --> 00:37:03.720
Alexander Winkler: I would just close the app
00:37:04.590 --> 00:37:10.880
Toby Dawson: totally quiet for 2 s, that's all I know.
00:37:11.190 --> 00:37:12.000
Alexander Winkler: Huh!
00:37:12.510 --> 00:37:15.819
Toby Dawson: I bought a new, a new setup. I finally bought a
00:37:16.400 --> 00:37:21.210
Toby Dawson: project or the screen a monitor like folder.
00:37:21.410 --> 00:37:22.979
Toby Dawson: I don't know what you call it.
00:37:23.330 --> 00:37:27.929
Toby Dawson: for the desk. It's quite nice because I was using like these like
00:37:30.519 --> 00:37:34.620
Toby Dawson: these kind of these kind of things where you just
00:37:35.390 --> 00:37:57.930
Toby Dawson: I think, Alex, you kind of have this. Oh, wait, that's exactly what I have. So it was just blurred out at the top. And I was like, Yeah, so I've been using that, and they're good. Huh! It's it's nice, except, for I like to have my desk at home is a little bit low, so have to stack like 6 books underneath it. So it's high enough to get the screen, and it's wobbly. And
00:37:58.370 --> 00:37:59.519
Toby Dawson: I'm like
00:37:59.980 --> 00:38:05.048
Alexander Winkler: that's true. It frustrates me every day. Why not just invest the
00:38:05.160 --> 00:38:20.669
Toby Dawson: what it cost me like 35 bucks to to buy to buy this this monitor! Ho! Monitor stand! It's sweet, though it was cheap, but it was. It's like super high quality, really heavy. Probably like 5 kilos
00:38:21.580 --> 00:38:28.129
Alexander Winkler: is like a mount, or it's like a it's like a mount on the back of the desk, and then it's rearms
00:38:28.600 --> 00:38:39.980
Toby Dawson: to hold 2 screens, and the third arm is going to hold the laptop. I'm just waiting for the laptop attachments, and then I can put the laptop on that, and then
00:38:40.120 --> 00:38:48.840
Toby Dawson: Have everything pretty high in the air, and, like the poll is long enough that I can actually turn this into a standing desk to now, cause I can get the monitors up so high.
00:38:48.980 --> 00:38:55.510
Alexander Winkler: Oh, Gotcha, yeah, that makes a lot of sense. Wait, let me wait, share. Let me share my screen. Is it? Is it something like this?
00:38:56.160 --> 00:39:00.579
Toby Dawson: Yeah, it's exactly like the one the
00:39:01.519 --> 00:39:04.269
Toby Dawson: the purdost, and that one
00:39:06.750 --> 00:39:12.490
Toby Dawson: but that poll in the poll in the back for mine is probably twice as long as that one.
00:39:12.630 --> 00:39:30.048
Toby Dawson: Oh, Gotcha, yeah, this actually looks really, really solid, while I might have to look into something like this. So like, you know, you got the 2, Mona. I have the the Monitor on top and the one on the the left. But then that other monitor, there's going to be no monitor, and then they have, like a laptop attachment, so I can hang my laptop off of that
00:39:30.320 --> 00:39:31.740
Alexander Winkler: Gotcha.
00:39:31.870 --> 00:39:37.749
Toby Dawson: and then keep the laptop completely off the the table. So then I just have my keyboard on the desk.
00:39:39.160 --> 00:39:40.629
Colby Warshel: That's actually
00:39:40.720 --> 00:39:44.230
Alexander Winkler: that would be nice to keep the keyboard or the laptop off the table.
00:39:46.100 --> 00:39:47.019
Alexander Winkler: Yeah.
00:39:47.500 --> 00:39:54.220
Toby Dawson: I'll take a photo of it when II think I'll res get the laptop attachment tomorrow. I hope
00:39:55.600 --> 00:39:57.860
Toby Dawson: you know small things that are exciting
00:39:58.310 --> 00:40:02.150
Alexander Winkler: bagging out right now. It looks like another good trade.
00:40:03.980 --> 00:40:09.369
Toby Dawson: My computer off. This is stupid.
00:40:09.560 --> 00:40:11.819
Alexander Winkler: Yeah, dude. I hope he needs another hit.
00:40:12.010 --> 00:40:15.540
Toby Dawson: Okay, let's not shut it down.
00:40:15.690 --> 00:40:21.050
Alexander Winkler: Tom. It's your turn, or like musical chairs. Let's who? Who's gonna take the next grade.
00:40:21.470 --> 00:40:24.730
Tommy Salerno: my fucking trade jump, jump on the computer, quick.
00:40:25.210 --> 00:40:29.759
Toby Dawson: Yesterday, I struggled all day yesterday.
00:40:29.920 --> 00:40:30.860
Alexander Winkler: Hmm.
00:40:31.070 --> 00:40:34.060
Alexander Winkler: yeah, yeah.
00:40:34.360 --> 00:40:45.840
Toby Dawson: all day until I stayed up until like the end of market, and finally got green like 90 bucks or something at the end of the day I never draw, drew down that low, though it was only like
00:40:46.170 --> 00:40:54.519
Toby Dawson: 250 bucks or something. But I was. I was annoyed that I was down 20 bucks, cause it seemed like there was so much so like
00:40:55.310 --> 00:41:05.798
Toby Dawson: I. That's the other part of like discord something, you know. I'm watching discord, and everyone's like, Oh, man, I just crush. I got you know, my daily goal already. I'm like, what the hell am I negative for?
00:41:06.060 --> 00:41:12.999
Alexander Winkler: Yeah, everyone was killing it pre market. I was getting a little bit what's the word called Fomo. But then
00:41:13.310 --> 00:41:15.119
Alexander Winkler: I was like, Let's
00:41:15.930 --> 00:41:16.710
Tommy Salerno: yeah.
00:41:17.740 --> 00:41:21.369
Tommy Salerno: Colby, how's your how's your trading going. Did you trade today?
00:41:21.840 --> 00:41:26.410
Colby Warshel: Yeah, I I made like 5 points small day.
00:41:27.050 --> 00:41:35.519
Colby Warshel: But it's fun because it's like es contract. So it's like 250 bucks. So it makes me feel good, even though it's still in an evaluation account like it's not even real money. But
00:41:36.260 --> 00:41:43.479
Colby Warshel: yeah, I. Whenever I got this evaluation account, it was like 3 weeks ago, and the whole goal was to just only trade, the one strategy that I really like.
00:41:43.850 --> 00:41:52.390
Colby Warshel: and like the fucking. Within the first week I was down like $100 in that account, and I
00:41:53.010 --> 00:42:01.919
Colby Warshel: was $200 away from getting stopped out of it. But now I just broke back above the like break even point, and I'm up like.
00:42:03.450 --> 00:42:08.360
Colby Warshel: maybe like 800 bucks or something. So I like recovered like $2,800 from that low
00:42:08.570 --> 00:42:10.660
Colby Warshel: in the last 2 weeks.
00:42:11.210 --> 00:42:14.969
Colby Warshel: You unlimited, you have to pay. It's 50 bucks a month, so
00:42:15.019 --> 00:42:30.039
Colby Warshel: I feel I feel pretty good. Actually, I've it's really cool. Because so you guys know that my whole philosophy for the last 2 years is basically like study, study, study, study, study, study, study, study, study, review, review, review, learn everything like constantly, be like taking in all this information.
00:42:30.100 --> 00:42:35.439
Colby Warshel: and then for the last 3 weeks. I was like, you know, what if there's one assumption I have about
00:42:35.650 --> 00:42:46.240
Colby Warshel: my progress? It's that I should do that all the time, no matter what, and I was like. It sounds dumb as shit for me to be like. Oh, my! You know what I should do is change that, and do nothing. Don't review at all.
00:42:46.280 --> 00:43:01.719
Colby Warshel: and let's just see what happens. So I like, don't review at all, and it's actually helping me a lot, because in my reviews I would go look for all these trade setups I'd find like 10 setups, or whatever I'd look at something I'd be like. Oh, here's a different way to trade. The strategy I use, and I would just
00:43:02.170 --> 00:43:15.809
Colby Warshel: keep doing all this bullshit that was not related to what I actually like to do. So I think that like not reviewing at all, and just kind of trading from 9 to 11, 9, 30 to 11, that is it. It's over after 11. I have 1 one strategy, that is it.
00:43:15.970 --> 00:43:24.760
Colby Warshel: It's actually helping me a lot, because that's like my biggest. My biggest strength is I love learning a bunch of new shit, my biggest weaknesses. I love learning a bunch of new shit. So
00:43:24.780 --> 00:43:31.429
Colby Warshel: I need to start like, cut all that out. And it's been really helping plus Lance Breitstine hosted a Twitter thing
00:43:31.850 --> 00:43:38.119
Colby Warshel: time you saw it, but it was he made like an excel spreadsheet that basically had, like
00:43:38.920 --> 00:43:58.679
Colby Warshel: whatever your name is your, how many years you've been trading? What markets do you trade? What do you want out of a group of traders? And then you basically went into that document and inputted your, my, I put my name in there. I said, I trade futures. I've been trading for 3 years. I I'm open to anything whatever. And then, within like 2 min, I get an email from this guy
00:43:58.680 --> 00:44:11.819
Colby Warshel: who is also in that same thing. And he made a discord. And there's like 20 traders in there right now, and they're all futures traders. They're all trading like Es or the spy or the Nasdaq, and they're all like very
00:44:11.880 --> 00:44:25.980
Colby Warshel: fucking good, like they're all I mean. Some of them have been trading for over 10 years, and all of them pretty much are profitable. So it's really cool. Cause that discord's fucking packed with really, really high level traders that can.
00:44:26.090 --> 00:44:30.630
Colby Warshel: you know, like, I'm kind of sick of learning from people that like either don't make money or
00:44:32.360 --> 00:44:56.070
Colby Warshel: are like in the same exact level as me, like, I really wanna go somewhere where, like, I'm the absolute worst trader there cause. That makes me feel much better in terms of like actively participating in that group compared to just being like another guy that's at the same level as everyone else. And we're all kind of just fumbling around doing the same shit, you know. So that's been really, that's been really cool. So I'm really excited to see where that
00:44:56.310 --> 00:45:02.759
Colby Warshel: where that takes me. But yeah, it's been fun. I've been having a great time trading the last like, 2 weeks.
00:45:03.150 --> 00:45:05.260
Colby Warshel: 3 weeks. Yeah.
00:45:06.010 --> 00:45:09.059
Toby Dawson: that seems like you're in a pretty chill
00:45:09.550 --> 00:45:12.099
Toby Dawson: state of mind right now, too. Looks good.
00:45:12.620 --> 00:45:14.860
Colby Warshel: Yeah. I've I've been. Yeah.
00:45:14.950 --> 00:45:24.100
Colby Warshel: it's easy to be chilled, though, when I'm fucking green. So I was red today, I probably wouldn't be smiling all fucking.
00:45:24.240 --> 00:45:25.330
Toby Dawson: Yeah.
00:45:26.810 --> 00:45:38.109
Alexander Winkler: yeah. But it is like like totally said like, does it seem like you're in a good state of mind, and I think you probably had to go through a lot of that to realize that you need to
00:45:38.180 --> 00:45:39.909
Alexander Winkler: not study as much.
00:45:40.160 --> 00:45:50.720
Alexander Winkler: and I feel the same way like when when I study a lot, I mean a little bit of studying is necessary, and you have to kind of reflect. I think that's really important. But if you over study, you start.
00:45:50.860 --> 00:46:11.909
Alexander Winkler: everything gets over analyzed. And then you put a lot of pressure on yourself because it's like, Okay, well, I studied 4 h. Now. I'd better make something happen here, else cause. I you know I'm not allocating my free time to other activities that could be me, either generating me revenue or that make me happy. So then there's you put a lot of extra pressure on yourself to really perform.
00:46:12.019 --> 00:46:16.660
Alexander Winkler: I've I've I noticed that's at least for me, the case when, if I really study heart
00:46:16.810 --> 00:46:23.800
Alexander Winkler: that I really want to make it work. And then, yeah, the market is a is, yeah. The the shitty part about the market is obviously like
00:46:24.080 --> 00:46:35.439
Alexander Winkler: if you really wanna, you know, make a lot of money. But the market's not there. But you still wanna make a lot of money. It's probably gonna be really bad because you're gonna force a lot of things. And that's that's what makes trading so difficult. I think.
00:46:36.400 --> 00:46:39.889
Alexander Winkler: Wait for that broken slot machine.
00:46:40.150 --> 00:46:42.569
Colby Warshel: Yep. yeah, it's it's
00:46:43.080 --> 00:47:10.519
Colby Warshel: it's tough. Because also, like as traders, we're like obsessed with the idea of never having a boss. So like every single thing I do with any free time I have is always. Let's make money, but then it's never like, Oh, let's make money by getting a job. It's always like, oh, I can build little things and put them on, Etsy. I can go people's house and do renovations for them. I can build the layer Bmb's or whatever. So it's really tough for me, because every day I'm kind of allocating time to multiple versions of this
00:47:10.519 --> 00:47:13.298
same shit that makes me hardly any money.
00:47:13.300 --> 00:47:25.819
Colby Warshel: So it's kind of hard for me to be like, oh, I'm allocate today to some Airbnb stuff. I'm gonna allocate this time to building things and putting them on Etsy, and then it's like. at the end of the day I'm still fucking broke. So it's like I don't have a
00:47:26.390 --> 00:47:30.390
Colby Warshel: especially with trading. It's the worst, because trading is so
00:47:30.490 --> 00:47:37.298
Colby Warshel: time consuming compared to the other things. First of all, because I love it the most out of any of those things by far.
00:47:37.970 --> 00:47:53.610
Colby Warshel: But whenever you lose money on something that's super time consuming like, at least, if I do construction or anything like that, I'm not gonna fucking lose money like if I worst case scenario, I make like a small amount of money, you know, trading like you, you work all day, you bust your ass and fucking lose money. And it's like.
00:47:53.769 --> 00:47:59.890
Colby Warshel: you know, as we all know, it's terrible. It feels like you feel terrible like it's just such an awful.
00:48:00.350 --> 00:48:03.600
Colby Warshel: Yeah. Trading is so fucking hard, too.
00:48:03.660 --> 00:48:16.350
Alexander Winkler: It's a good thing to combine with something that is not like a freelance or like self employed activity. I think, until you reach a certain point of profitability. Because it's like.
00:48:16.660 --> 00:48:18.719
Alexander Winkler: yeah, it's so tough to like.
00:48:19.110 --> 00:48:35.769
Alexander Winkler: have multiple start ups, so to say, because ultimately, trading is like, you know, it's like a startup. It's a company or yeah, if if you don't perform well, it doesn't make money. But then, if you have like like you said. Then you do that with Airbnb, or you do that with Etsy or any other freelancing project. Do you start another project?
00:48:36.050 --> 00:48:51.099
Alexander Winkler: It's tough because they're all maybe not making money. But you're like exerting, like, you know, 8,000 rpms. And you're just not going forward, and that I think that's that's how Burnout really, quickly will happen. I know that's what happened to me at 1 point in my life. So
00:48:51.540 --> 00:49:12.309
Alexander Winkler: yeah, II don't know it is nice to have something a little bit more stable. I know my my girlfriend, for example. She did like up work, stuff, freelancing, and man. She was making a lot of money like like over €6,000 a month, just like having these like gigs. And it was basically like, part time work. I was like, Dang, girl, you're freaking cleaning up over there. Good for you,
00:49:12.480 --> 00:49:25.499
Alexander Winkler: So yeah, something that like generates money like, even if it's like hourly work or something. I think it is pretty nice to pair up with trading, cause it's a little bit more secure, so it like balances the volatility of trading.
00:49:25.750 --> 00:49:47.489
Colby Warshel: It's really important. That's another thing to do. You need to have some other thing to do, because if trading is your only thing like I've heard so many stories these guys that get profitable, and the second they quit their job, they fucking, lose it all because they're trying to trade all day now. And it's like that job helped. You be profitable actually, because you can't work and trade. You can't do it all day. So it's like.
00:49:47.930 --> 00:50:11.830
Colby Warshel: you know, that's like something that's always in the back of my mind, too, where it's like, II need to make sure I actually told this is something I implemented about like 3 months ago, where I was like. You know what training is not working right now. I need to do something else for the remainder of the day. I need to be done at 110'clock, no matter what point and blank like fucking. That is it. I'm not trading past 11, and ever since I started doing that I've definitely had way. Better mental health, just
00:50:12.160 --> 00:50:17.900
Colby Warshel: because I'm getting so much shit done doing other stuff like you'd be amazed with 4 h does for like
00:50:18.230 --> 00:50:31.259
Colby Warshel: you know, like a stupid little construction job, or just something dumb like that like, I'll be like, Wow! I fucking worked 4 h, and I actually have something tangible in front of me and cash in my hand, you know, plus also the whole idea of like serendipity that we talked about. It's like
00:50:31.470 --> 00:50:48.580
Colby Warshel: I have no idea what could make me a shit ton of money like my girlfriend. She was telling me yesterday she was like you should start filming tiktoks about the shit that you build because people love watching just like a voiceover of like a video that's in a time lapse, and it's just sped up. And it's just some guy building like a house or some shit like that. And I was like.
00:50:49.080 --> 00:51:12.409
Colby Warshel: I don't wanna do it because I, fucking hate making content. It is the my absolute, most hated thing is making videos and shit like and editing. I'm just like, oh, my God! Bry spent enough time on the computer clicking these fucking by bid by the ask, I don't wanna like spend 2 h making this dumbass 60 s video. And I'm like.
00:51:12.590 --> 00:51:21.069
Colby Warshel: Oh, Bro, yeah, I had one short I ever made. That was like edited. And it took me fucking forever. I was like that was terrible like, wow! I got a hundred views
00:51:21.090 --> 00:51:29.300
Colby Warshel: reward. That was but my girlfriend was like you should try that. I was like thinking about it like, wait.
00:51:29.390 --> 00:51:33.659
Colby Warshel: what if I just try something dumb? And that's the one thing that, like.
00:51:33.710 --> 00:51:44.110
Colby Warshel: you know, let's say I make some stupid little Tiktok video about building some construction thing, and then I have all the shit on Etsy. They can buy from me, or I can build them an Airbnb site on their property, or I can build them whatever you know.
00:51:44.630 --> 00:51:56.679
Colby Warshel: it's just important to make sure, like as as entrepreneurs. And people like us who have this tendency that we fucking just hate having anyone telling us what to do. which is all 4 of us, and every day trader that ever existed.
00:51:56.780 --> 00:52:03.070
Colby Warshel: Honestly, I think it's everyone in the world but day traders are just the people who are mo insane enough to actually try it.
00:52:03.230 --> 00:52:12.170
Colby Warshel: we have to make sure that we're trying lots of stuff at the inf in the infancy stage, you know, like, like me, where I'm not even profitable. And trading, I need to make sure I'm doing
00:52:12.680 --> 00:52:17.369
Colby Warshel: a lot of things and not just saying not trading is the only thing I have. But
00:52:19.400 --> 00:52:20.090
Colby Warshel: yeah.
00:52:23.340 --> 00:52:24.309
Alexander Winkler: it's my spiel
00:52:25.450 --> 00:52:32.210
Tommy Salerno: I can relate. I can relate to on that. I don't I? Editing is not my joy at all. It's just so cumbersome and
00:52:32.480 --> 00:52:35.689
Tommy Salerno: exhausting. It takes so long to just
00:52:35.900 --> 00:52:45.240
Tommy Salerno: to edit a video. It just takes. It's just very time consuming. I just yeah, I'm with you, like, I don't like to put it out time for editing, either. II think my channel is just gonna be
00:52:45.360 --> 00:52:59.430
Tommy Salerno: mostly just I can make a quick recap in 30 min and post it within 30 min. And like. That's great, you know I don't. I don't want to be editing, for, you know, transitions, and then different types of shots, different scenery, different all this and that
00:52:59.740 --> 00:53:02.680
Tommy Salerno: And you know, and II don't.
00:53:02.860 --> 00:53:11.149
Tommy Salerno: Yeah, I don't have that passion for like that sort of creative endeavor. I guess in video making I like it more, though as like
00:53:12.090 --> 00:53:25.579
Tommy Salerno: for me, for me, I like my my channel is more of like just like a journaling a journaling thing, you know. Just every day I review the the tickers. I traded review some trades that I talk, and I can do that without any editing. I just film it
00:53:25.590 --> 00:53:30.149
Tommy Salerno: film at once and then upload it right up to Youtube. And that's perfect. That's all I need.
00:53:31.180 --> 00:53:39.778
Colby Warshel: That's why I love live streaming because it's so easy. Just turn it on, turn it off. Goodbye.
00:53:40.290 --> 00:53:43.410
Tommy Salerno: No, no, I totally agree.
00:53:46.280 --> 00:54:00.900
Tommy Salerno: Yeah, Tom, you were live streaming. II done it here and there, but I didn't get any engagement, so I just felt like I was just talking to myself. So I was like, whatever I'm also just record my screen privately, and then just do a recap video.
00:54:01.910 --> 00:54:03.269
Tommy Salerno: But yeah.
00:54:03.410 --> 00:54:04.070
00:54:04.390 --> 00:54:07.209
Alexander Winkler: there's definitely that phase.
00:54:07.400 --> 00:54:08.090
00:54:08.310 --> 00:54:13.419
Tommy Salerno: I did it for a while, too, like I did it for a good 2 months straight every day.
00:54:13.550 --> 00:54:19.190
Tommy Salerno: and I got like 1, one or 2 views usually, and I was like, you know what?
00:54:19.870 --> 00:54:23.859
I don't know why I'm why I'm doing this, so I'd rather just
00:54:24.130 --> 00:54:28.470
Tommy Salerno: not have the hassle of live streaming while I'm trading, and I can just do a recap
00:54:29.120 --> 00:54:53.259
Alexander Winkler: right right now. Streaming for trading content is very difficult. Like it's we're in a we're in a big wall in terms of like audience on Youtube for for trading content. I've really noticed that with my channels and stuff. That's why I'm taking a little bit of a Sabbatical, because it's like there is a time where you you upload a trading video and you'll probably get like 2,000 views pretty quickly. But now you upload a trading video. It's like people really. It's just not. It's not a topic that search
00:54:53.260 --> 00:55:10.829
Alexander Winkler: much. It will be again. It's like super cyclical. I've noticed this because I've been doing it for almost 4 years now. But it's like. yeah, sometimes there's like these 4 months or 5, 6 months in a row where it's like you're you're just like you come out with a horrible video. But like everyone's watching it. But now it's like you put so much time to a video. It's like no one's watching it
00:55:10.970 --> 00:55:16.950
Alexander Winkler: except like your core audience. That follows you regardless. But yeah, it's it's it's a tough topic for sure.
00:55:17.040 --> 00:55:20.979
Toby Dawson: You find that you get lag when you're doing live streaming and all that stuff
00:55:22.519 --> 00:55:24.849
Tommy Salerno: me some, sir.
00:55:24.990 --> 00:55:38.070
Tommy Salerno: I don't know. I'd say I would have to say occasionally. It's it's definitely happened in the past, but I was on a different wi-fi my wi-fi now is is really good, I have, which is pretty good
00:55:38.220 --> 00:55:41.579
Tommy Salerno: but so I haven't had any trouble with that.
00:55:41.680 --> 00:55:50.000
Tommy Salerno: But on previous Internet, with less, with about 100 download and about 12 upload. Yeah, I was lagging.
00:55:51.920 --> 00:55:57.500
Colby Warshel: Yeah, I like a little. It doesn't really matter, though, for me, because I'm not really high frequency trading.
00:55:57.540 --> 00:56:01.350
Toby Dawson: is it coming from the Internet? Is it coming from the hardware.
00:56:02.450 --> 00:56:07.169
Tommy Salerno: I don't know it. Could. It could be the hardware. It could be the hardware.
00:56:07.620 --> 00:56:12.069
I don't think I have that that of hardware.
00:56:13.769 --> 00:56:21.798
Tommy Salerno: I mean it does. It does kick on the fan when I do, when I do record my screen or live stream, so I don't know it could be
00:56:22.170 --> 00:56:24.289
I'm not sure, though
00:56:25.690 --> 00:56:36.719
Tommy Salerno: I think around so much with my tos set up so like I don't get any lag that since I got my new computer. But I keep trying to optimize it as much as possible.
00:56:37.010 --> 00:56:49.019
Toby Dawson: Yeah, I definitely feel like right now, something that's working the best. and I'm doing all pop out windows now, but I'll make 3. I'll open 3 instances of tos.
00:56:49.210 --> 00:56:49.920
Toby Dawson: and I'll
00:56:50.320 --> 00:57:02.009
Toby Dawson: pretty much put everything like clear out everything, have no charge, have nothing going in the background, and then pop out what I want on that one instance, and make that my active ladder.
00:57:02.100 --> 00:57:12.289
Toby Dawson: and then open another instance of Tls, and then do the charts. and then open another instance to do a level 2 and and watch lists.
00:57:12.420 --> 00:57:13.550
Toby Dawson: Having the.
00:57:14.800 --> 00:57:17.350
Toby Dawson: I definitely feel like it helps with
00:57:17.740 --> 00:57:31.519
Toby Dawson: getting order entries and stuff it. Just those like windows. Quarter, second flow where like that, when you're trying to buy or sell, and just floats for a second, and then then the order goes through.
00:57:31.930 --> 00:57:37.099
Toby Dawson: It's definitely doesn't do that as much anymore. Cause I've watched, you know, like.
00:57:37.350 --> 00:57:46.019
Toby Dawson: you know, those guys relentless, or like crispy trades and or like, you know, trading farmer and those guys.
00:57:46.210 --> 00:57:49.030
Toby Dawson: And I'm always amazed when I watch them trade like
00:57:49.500 --> 00:57:55.730
Toby Dawson: they look like they get 0 lag when they and like when they punch, and when they punch the
00:57:55.830 --> 00:57:59.780
Toby Dawson: the buy market, the those those
00:57:59.910 --> 00:58:08.729
Toby Dawson: those bar, those are shares are bought instantly. It's amazing. Like, they yeah. So there's there's definitely something.
00:58:09.090 --> 00:58:19.610
Toby Dawson: Keep playing around with it. But you know, all those guys all have pop-out windows. I know that because they're all using a different level, too, or like, probably you're using a pop out window, too. Now.
00:58:19.710 --> 00:58:23.460
Toby Dawson: because, you're using a dos trader.
00:58:26.710 --> 00:58:29.510
Alexander Winkler: I just have a bunch of windows on my.
00:58:31.930 --> 00:58:33.950
Alexander Winkler: But yeah, Tom Field, yeah.
00:58:35.100 --> 00:58:42.579
Tommy Salerno: Yeah, II don't know what's the theory behind the pop out windows, and having several instances I don't. I would think that would make it slower. Right?
00:58:42.940 --> 00:58:59.149
Toby Dawson: Well, apparently T. OS runs on a single thread. So you're just using a different thread for every every instance that you open up. So you're basically, Max. And if you have a like a high powered computer. You can. You can maximize
00:58:59.640 --> 00:59:05.150
Toby Dawson: maximize. It doesn't use too much too much. CPU and doesn't
00:59:05.970 --> 00:59:19.969
Toby Dawson: does definitely doesn't use that much. Gq, II find. But if you have a lot of things running. that's where you get things when it starts to slow down. If you have you know too many charts up, for instance, or you have
00:59:20.230 --> 00:59:22.790
Toby Dawson: you know.
00:59:23.670 --> 00:59:24.690
Toby Dawson: like
00:59:25.970 --> 00:59:42.859
Toby Dawson: too many indicators and things like that. You know, I have some of like the special, the special indicators that I have, you know, like that. Tell me how much there is on every candle, and there's like the holed up and hold down. So all that stuff
00:59:42.870 --> 00:59:44.550
Toby Dawson: contributes to lag.
00:59:45.280 --> 00:59:53.479
Colby Warshel: Wait. So you're saying you're actually. And if you use just one, if you're only using 1 one instance.
00:59:53.720 --> 00:59:58.278
Toby Dawson: Everything has to refresh at the same time. So I would. Something is going to get bogged down at some point.
01:00:01.210 --> 01:00:04.079
Colby Warshel: I'm confused. Are you saying you're opening that?
01:00:05.660 --> 01:00:14.670
Colby Warshel: Sorry? Are you opening tos multiple times like you're actually opening toos logging in, then opening another and logging in.
01:00:15.000 --> 01:00:16.250
Colby Warshel: That's crazy.
01:00:16.530 --> 01:00:23.580
Toby Dawson: You know those possible? I did that when I started, because I didn't know how to attach windows
01:00:23.980 --> 01:00:33.080
Toby Dawson: click on the icon again, and it will open another one, and you it will load up and you log in, and you'll have a second one. And yeah, exactly what I do.
01:00:33.260 --> 01:00:35.200
Alexander Winkler: That's funny. Let's learn
01:00:35.990 --> 01:00:41.140
Colby Warshel: them have to try that. I got like 7 detached windows from TOS. Right?
01:00:41.519 --> 01:00:44.869
Alexander Winkler: It probably depends. If, like, are you using a desktop, Kobe?
01:00:45.190 --> 01:01:04.989
Alexander Winkler: I know I have a laptop laptop as well. Yeah, who knows? My last laptop like it was a problem it was. It was really pushing it. And it was during a lot of my streaming times. But then this new one, I could have so much stuff. Open windows, live stream video recording and like it just handles it like a champ. It'll start. You'll you'll hear the fan, but
01:01:05.019 --> 01:01:15.120
Alexander Winkler: this thing's a beast, so I guess it really you have like a trillion terabytes of RAM Bro. 64 gig byte RAM on a laptop.
01:01:15.360 --> 01:01:23.059
Toby Dawson: No dude. You got the 1 28. I got 60, cause you had 64, so I wanted to match you
01:01:23.250 --> 01:01:37.960
Alexander Winkler: dude, I think the 60 fourth, probably a Major Overkill. I would probably even go lower next time. But, hey, it was the best option available, and I was so fed up with my old laptop, I was like, let me spend the extra couple of 100 bucks and let me just Max, this puppy out.
01:01:38.260 --> 01:01:46.150
Alexander Winkler: I know, and if I if if I use this laptop on the couch, it'll like burn a hole through my legs. It's it gets hot.
01:01:46.910 --> 01:01:53.580
Toby Dawson: I had no idea what kind of specs are like, what kind of laptop to get, but since I've gone through the whole process
01:01:53.760 --> 01:02:07.569
Toby Dawson: I definitely have a better idea of what what you need and what what is necessary, and the more you have the better. You know it's definitely a better to have all the computing power you can possibly get.
01:02:07.790 --> 01:02:29.979
Alexander Winkler: Yeah, especially for windows like windows, is so unresourful the way it uses this energy like we, you could do like a Mac top like a macbook, with probably like 8 GB RAM. Probably even half that. But it's got like a nice chip, and thing is so resourceful it's ridiculous. You like edit 4 K video on it, and just with a breeze. And then like this, windows laptop th, these things are like freaking tanks
01:02:30.010 --> 01:02:39.649
Alexander Winkler: like. There's nothing efficient about them. But II love my windows. But, man, I hope I hope they upgrade some of their chips at 1 point. These intel chips are
01:02:39.950 --> 01:02:41.440
Alexander Winkler: no no one else.
01:02:41.810 --> 01:02:46.059
Toby Dawson: You do optimize windows and delete all the unused.
01:02:46.370 --> 01:02:52.289
Alexander Winkler: Yeah, I do. I do all that. All that stuff all the time, but I don't know
01:02:53.440 --> 01:03:00.220
Toby Dawson: like I won't. I haven't opened up mail or anything this like the computer about strictly for trading.
01:03:00.450 --> 01:03:04.889
Toby Dawson: I haven't had. There's no extra apps for anything else other than
01:03:05.040 --> 01:03:08.249
Toby Dawson: if it's for trading, then it will be on this computer, otherwise.
01:03:08.600 --> 01:03:13.199
Toby Dawson: Obs and tos applications. I've downloaded.
01:03:13.550 --> 01:03:16.280
Alexander Winkler: Yeah, no. I actually have a lot of stuff going on.
01:03:17.700 --> 01:03:18.969
Tommy Salerno: What? What do you have?
01:03:19.050 --> 01:03:21.349
Toby Dawson: I bought a Legion? I 5.
01:03:22.450 --> 01:03:23.460
Tommy Salerno: How nice!
01:03:23.750 --> 01:03:31.669
Toby Dawson: It's pretty sweet! I think if I were to do it again, though, I would have gotten the the
01:03:31.960 --> 01:03:33.490
Toby Dawson: I 7 or so.
01:03:33.760 --> 01:03:39.840
Toby Dawson: And I actually, I've also heard, like the raisin chips are pretty good, too. I'm not sure like
01:03:40.470 --> 01:03:48.300
Toby Dawson: II wish I was. At least I wish I would have gotten like the the I have like a I-seven chip or something.
01:03:48.470 --> 01:03:49.480
Alexander Winkler: Hmm!
01:03:51.170 --> 01:03:57.259
Tommy Salerno: Is that is how much is, how much is that? As far in us dollars?
01:03:57.940 --> 01:04:02.869
Tommy Salerno: This was probably this was probably about 2,000 Us.
01:04:03.800 --> 01:04:11.610
Toby Dawson: But it's definitely definitely cheaper in the Us. I think I could have gotten it for about 15 or 1,200 bucks in the Us.
01:04:12.019 --> 01:04:22.220
Alexander Winkler: Electronics in the Us. Are so much cheaper. It's amazing buying it. Buying it in. Thailand was hard to find to get it speced out. It was almost impossible. I had to go all over the place so
01:04:22.290 --> 01:04:23.420
Toby Dawson: to find it.
01:04:23.840 --> 01:04:28.060
Toby Dawson: And then, you know, it's a it's a Thai computer. So I have it. I have, like
01:04:28.510 --> 01:04:31.059
Toby Dawson: my keyboard is has all the the tie
01:04:31.260 --> 01:04:43.460
Toby Dawson: characters. That's why I refuse to buy laptop or electronics in Germany, because one that they're super expensive and 2, it's all the German keyboard, and I don't want it. I'm like, No.
01:04:44.090 --> 01:04:47.080
Toby Dawson: yeah, it's definitely best in the States. But.
01:04:47.280 --> 01:04:59.310
Toby Dawson: I don't know when I'll be back in the States again. So I just kind of bit the bull. My, I was trying to run tos on the Macbook for basically my whole trading career, for, like the year and a half that I've been trading with
01:04:59.670 --> 01:05:01.479
Alexander Winkler: before the emulator. Right?
01:05:01.500 --> 01:05:05.109
Toby Dawson: No emulator. I was just trading straight off of the Macbook.
01:05:05.800 --> 01:05:17.689
Toby Dawson: and it was, I thought it was running okay. But I was in China most of the time when I was learning. When I started training. Internet's just horrible, at least where I was at.
01:05:17.700 --> 01:05:22.780
Toby Dawson: And so I just figured it was really poor Internet. And then I moved to Thailand. And then I
01:05:23.250 --> 01:05:30.689
Toby Dawson: I got a condo, and like the Internet was still not wasn't great. So I kind of kept blaming it on the Internet. And then I finally got really good Internet.
01:05:31.030 --> 01:05:40.849
Toby Dawson: And I still kept running into the same lagging problems. I was like, Okay, it's it's it's T. OS, or it's it's the Mac to S is built for.
01:05:40.940 --> 01:05:49.080
Toby Dawson: and even if you go through emulator, it still doesn't work properly. You need to have an intel chip or a Raisian chip in there
01:05:49.220 --> 01:05:50.680
Alexander Winkler: am d-chas.
01:05:51.240 --> 01:06:00.399
Alexander Winkler: It's weird, man to us. We'll see how long it's still around, for it's like one of the oldest programs. But it's it's still hanging in. Gotta look to us.
01:06:01.450 --> 01:06:06.969
Toby Dawson: Yeah. I wonder if, like, if Schwab will invest anything into it and try to
01:06:07.070 --> 01:06:14.380
Tommy Salerno: improve it a little bit when they kind of take it all over. I hope so, but I hope they don't make it worse.
01:06:14.740 --> 01:06:33.400
Alexander Winkler: You know it's and to us is a little bit the software where it's like, if it's not broken, don't fix it. And I feel like that's been their motto like since I don't know 20 years. It's it's an old program. I even I had it when I was like, I think it teenager. I even downloaded it like it's it's been around for a long time. Yeah.
01:06:33.849 --> 01:06:40.480
Alexander Winkler: cause my my dad and I would always look at stocks together, and I think I downloaded it back. Then. really long time ago.
01:06:40.860 --> 01:06:49.740
Alexander Winkler: Before we go on too much about this topic any any other thoughts going forward this week? I think we probably drilled it all thought through. But
01:06:49.849 --> 01:06:52.040
Alexander Winkler: any, any, any final thoughts.
01:06:56.540 --> 01:07:01.349
Toby Dawson: I'm still waiting for this market to, you know. Prove itself a little bit more.
01:07:02.150 --> 01:07:08.730
Toby Dawson: II broke my rules yesterday, and I kind of broke my rules again today. So I need to do better with that with
01:07:09.269 --> 01:07:22.860
Toby Dawson: trading past past my time I wanna trade till about 1030, if if something's looking pretty hot 110'clock and then call it and that I've really been working on being patient, though just
01:07:23.059 --> 01:07:27.240
Toby Dawson: waiting for setup cause like you were talking about earlier in the cast
01:07:27.290 --> 01:07:30.719
Toby Dawson: podcasts, like. sometimes you just start to like
01:07:30.950 --> 01:07:44.620
Toby Dawson: you sit there long enough that you feel like you need to make a trade, and you just start stabbing prep. That is, you know, it's bad. You know what. Instantly, when you when you buy in and then you have to. Once you buy in, you're not gonna automatically, just.
01:07:45.040 --> 01:07:57.080
Toby Dawson: you know, exit out of that trade. You have to see if at least it will will move one way or the other, and typically it will move against you, because that's what you deserve when you're buying in just because you're bored. But
01:07:57.290 --> 01:08:02.419
Toby Dawson: yeah, I'm really trying to keep myself from doing that. Because I definitely.
01:08:02.429 --> 01:08:05.090
Toby Dawson: I definitely have that problem.
01:08:06.070 --> 01:08:13.379
Alexander Winkler: Yeah, board training is the freaking devil it is. Now. yeah, that's what I'm working on as well.
01:08:14.200 --> 01:08:18.128
Tommy Salerno: I'm kinda I mean, the big goal is to have a day, where.
01:08:19.059 --> 01:08:23.729
Toby Dawson: if nothing looks good, I'd like to be able to get through a whole day and not pull the trigger once.
01:08:24.349 --> 01:08:27.029
Toby Dawson: That's one of my one of my goals. Actually.
01:08:27.349 --> 01:08:30.059
Alexander Winkler: that's a good goal. I think that's a good idea.
01:08:31.500 --> 01:08:33.469
Toby Dawson: I don't know if we'll ever happen, but
01:08:33.509 --> 01:08:35.358
Alexander Winkler: it's in the back of my mind.
01:08:39.429 --> 01:08:41.139
Alexander Winkler: Tom, you wanted to say something.
01:08:41.849 --> 01:08:52.090
Tommy Salerno: The the no date, the no trade days are are tough to to stick with. Usually everyone ends up with least with one trade or 2 trades.
01:08:52.189 --> 01:08:59.998
Tommy Salerno: and they end up, you know something with something, some some sort of Pnl, but yeah, no trade days. You gotta have some serious discipline
01:09:00.019 --> 01:09:05.579
Tommy Salerno: to have those before. Even Ross Cameron, like never has no trade days.
01:09:05.679 --> 01:09:07.960
Tommy Salerno: He's always pulling the trigger on something.
01:09:08.039 --> 01:09:14.168
Tommy Salerno: He does, for he does always advocates, for, like you know, what? If there's nothing there?
01:09:14.509 --> 01:09:16.639
Tommy Salerno: It could be a no trade day, and that's okay.
01:09:16.739 --> 01:09:29.978
Alexander Winkler: But yeah, he always breaks his rules, too. So it's so true. He always says it like in the beginning of every video, but never actually the only way. I've been not trade days pretty much. If I'm just not online, like I'm traveling or something. Even then I'll
01:09:30.239 --> 01:09:41.578
Alexander Winkler: throw a trade in. But yeah, who's who's in our discord that I feel like is really good at not trading or being really patient. I think, Lance, he's he seems to be quite disciplined, but I don't really know
01:09:42.239 --> 01:09:46.878
Alexander Winkler: what's actually on the other side of his messages, but he seems to be pretty disciplined
01:09:46.939 --> 01:09:50.858
Toby Dawson: if my goal is to have day, and then I only trade twice.
01:09:51.099 --> 01:09:57.548
Toby Dawson: That's pretty much accomplishing my my goal right? There. Yeah, that's basically no trade day. II agree, yeah.
01:09:58.800 --> 01:10:03.719
Alexander Winkler: yeah, what what helps is honest West and coming back for the market open
01:10:04.889 --> 01:10:13.028
Alexander Winkler: endlessly. And I'm I'm gonna keep doing it until I really notice some hot action at like 70'clock.
01:10:13.289 --> 01:10:25.278
Alexander Winkler: Well, I'm actually waiting till 7, 30, and close until I close my tos. But until I miss like I don't know 10 days in a row of great action at 7 45. I'm gonna keep close my tos pre market. If nothing's happening because
01:10:25.859 --> 01:10:34.590
Alexander Winkler: it it dude, it's it's day and night, and that gives me 2 h to work on something else. It's freaking amazing. I guess a lot of time. So
01:10:34.719 --> 01:10:38.659
Toby Dawson: it doesn't give you anything. If you see something that has moved.
01:10:39.199 --> 01:11:06.059
Alexander Winkler: I feel like after 7 30 staring at the computer. Sometimes I get distracted mentally, anyway, and then oftentimes something will move, and then I'll I'll trade it high and then be red, and then I'll just be upset for the next hour and a half, and then, you know, then it's 9, and then waiting for the market open. I don't know. I just and then I'm already mentally exhausted because I've been staring at the charts for so long, so like today. I missed some moves, but who knows how I would have traded it? I don't know. Like I
01:11:07.210 --> 01:11:10.649
Alexander Winkler: it it it's not bothering me at all to be honest. So
01:11:11.989 --> 01:11:28.090
Alexander Winkler: yeah, you're always gonna leave money on the table somewhere. And II think I think, net, it's it's helping me. Because right now. My biggest downfall is the exposure to slow markets, and I'd rather just close it. Come back to the market open. See what I can do for the next 30 60 min.
01:11:28.219 --> 01:11:36.909
Alexander Winkler: That's amazing. That's under 2 h of trading a day, and that's where I want to keep it. I don't want to. I don't want to trade more than 2 HA day. That's not why I became a trader to be glued to the screen.
01:11:38.079 --> 01:11:40.340
Tommy Salerno: Yeah, it's a good, absolutely.
01:11:41.509 --> 01:11:43.699
Alexander Winkler: Yeah. yeah.
01:11:44.009 --> 01:11:51.448
Toby Dawson: 1, one or 2 good trades. And you can call out a day, too. It's
01:11:51.729 --> 01:11:55.119
Alexander Winkler: dude. That's what it is. Yeah.
01:11:56.079 --> 01:12:15.208
Colby Warshel: yeah, I'm I'm really doing the exact same thing. I'm trying to. The trades that I think are really good. Scalp them don't go. Don't try to get like this crazy target. Reduce the market exposure to an absolute maximum trade. Only this one strategy. Try to avoid any trade where I'm like, yeah, it's not a good trade. If I'm like
01:12:15.529 --> 01:12:19.259
Colby Warshel: fuck. Yes, this is a trade that's when I want to take the trade. I don't want to be like
01:12:19.529 --> 01:12:36.179
Colby Warshel: no, maybe you know. And then also something I've been doing that's actually been helping a lot is I used to wake up and immediately go to my computer and just like. open the market. See where it's at. Then have 2 h of just me fucking around on my computer like doing anything you know where I'm just like
01:12:36.399 --> 01:12:44.500
Colby Warshel: wasted time, energy, and I go to the market. My eyes are already fatigued, and I'm just like, and I do make all these dumb decisions. I've been waking up and just like
01:12:44.539 --> 01:12:55.328
Colby Warshel: no phone. Well, I'll look at my phone for a second. I'll literally check like the Es see if it's down like 40 points today or not, and then I'll look at for 1 s, and then just immediately go stretch
01:12:55.329 --> 01:13:09.909
Colby Warshel: like I'll just do. I'll stretch my back and my legs and my arms, and do that for like 15 min, and then from 9, 20 to 9, 30, I just like sit and meditate. And just right in front of my computer, I'll just sit right here not even meditate. I'm just trying to just close my eyes.
01:13:09.909 --> 01:13:33.189
Colby Warshel: not think of anything. Just breathe deeply and just like calm myself down. Make sure that I know that like this is a stupid adult video game that we're about to play that I'm really just trying to make a quick buck and get the fuck out. I'm not trying to make a million dollars today. I'm not trying to lose a million dollars. I'm not trying to get richer, get poor. I'm just trying to make a little bit of fucking money and leave. I'm not trying to fucking be the best day trader of all time. I don't even make any money yet, so just calm down.
01:13:33.329 --> 01:13:34.469
Colby Warshel: relax.
01:13:34.789 --> 01:13:50.818
Colby Warshel: get your money and get out, and if you lose also get the fuck out. There's no point like for me, at least in large caps right now, or the indexes if I lose like my first 2 trades. I'm going to be red. There's not really a chance, for I'm gonna be. Get back to Green. So just just leave the market alone.
01:13:51.219 --> 01:13:55.939
Colby Warshel: you know. Same thing, you guys said. Just reduce exposure to the maximum.
01:13:56.800 --> 01:14:02.539
Alexander Winkler: Yeah, it's different styles. But yeah, same same philosophies, for sure.
01:14:02.899 --> 01:14:03.729
Colby Warshel: Yep.
01:14:05.420 --> 01:14:07.159
Alexander Winkler: nice hat. By the way, Toby.
01:14:07.250 --> 01:14:08.409
Toby Dawson: thank you.
01:14:08.609 --> 01:14:17.469
Tommy Salerno: I got a similar hat. This is my German.
01:14:17.489 --> 01:14:27.898
Alexander Winkler: and they got my city hat. My summer hat. Did you look like you should be like yodeling, and the other in the green hat. It's it's like a deep self driven like
01:14:28.059 --> 01:14:30.369
Alexander Winkler: like a forest hat.
01:14:31.189 --> 01:14:33.149
Colby Warshel: That's dope. I like the color
01:14:33.250 --> 01:14:37.460
Alexander Winkler: cheers. But yeah, Toby, look good. II
01:14:37.579 --> 01:14:39.768
Alexander Winkler: nice solid stuff, man.
01:14:40.909 --> 01:14:44.789
Tommy Salerno: shit! We should all wear cool hats next time.
01:14:44.989 --> 01:14:49.458
Alexander Winkler: Dude. Let's do it. We'll have that podcast coming up.
01:14:49.849 --> 01:14:56.039
Tommy Salerno: There'll be like, Oh, shit! That'd be funny.
01:14:56.050 --> 01:14:57.590
Alexander Winkler: True.
01:14:57.809 --> 01:15:00.398
Alexander Winkler: we can invite relentless out for the same week.
01:15:00.789 --> 01:15:14.239
Colby Warshel: No, actually wait. Halloween is on the 30 first. No, thirtieth, right?
01:15:14.929 --> 01:15:16.500
30. First, I think. Great.
01:15:16.569 --> 01:15:20.139
Alexander Winkler: Oh, my God! The 30 first of October is yeah.
01:15:20.409 --> 01:15:22.309
Tommy Salerno: Yeah. Is it on stage there
01:15:22.880 --> 01:15:25.439
Alexander Winkler: on Tuesday.
01:15:25.449 --> 01:15:29.829
Colby Warshel: Holy fuck.
01:15:29.960 --> 01:15:34.988
Toby Dawson: that's pretty funny. It's podcast day and halloween day.
01:15:35.389 --> 01:15:38.529
Alexander Winkler: I don't even have a good idea already. I have a good idea.
01:15:39.009 --> 01:15:51.219
Alexander Winkler: Okay, okay, this is gonna be good. Well, Toby, I hopefully, it's you're gonna even. You might have to just drop in because you'll probably be out. So you might just have to drop in on your phone for like 5 min and shows your costume.
01:15:52.300 --> 01:15:54.639
Toby Dawson: No, I'll be here
01:15:54.689 --> 01:16:04.809
Alexander Winkler: It'll be late. It'll be late. I mean, it might be tough for me to 70'clock. That's like Prime Halloween party time. So
01:16:06.019 --> 01:16:08.409
Alexander Winkler: yeah, the savings, I have no idea.
01:16:09.609 --> 01:16:19.849
Alexander Winkler: Oh, yeah. True daylight saving, yeah, will be even like, even later for me, actually. Oh, no, I totally forgot about daylight saving. That's about to get brutal. Well.
01:16:19.939 --> 01:16:24.409
Toby Dawson: that has to be coming up fairly soon. It's October, I'm sure.
01:16:25.569 --> 01:16:33.849
Alexander Winkler: Yeah, sometime in October, October, that no October 20 ninth of October. Oh, that's right. Before. That's at least
01:16:34.119 --> 01:16:36.858
Toby Dawson: couple of days after Germany.
01:16:37.859 --> 01:16:41.429
Alexander Winkler: Yeah, that's for Germany. It's different in America.
01:16:44.069 --> 01:16:49.278
Alexander Winkler: it's on November fifth in America. Okay, let me know. So that's after.
01:16:49.670 --> 01:17:06.009
Alexander Winkler: Yeah, it's always those 2 weeks that totally throw me off. I'm like, wait, I trade now at one Pm. Or wait. What time is, it totally throws me off. Okay, guys, we should probably call it here before we keep rambling on to now. People know Halloween. Keep it coming.
01:17:06.389 --> 01:17:16.469
Alexander Winkler: alright, alright guys. Nice to chat today. Get our traumas traumas out. Psychology, session, therapist session. Much appreciated.
01:17:16.849 --> 01:17:17.889
Tommy Salerno: Yeah.
01:17:18.369 --> 01:17:21.918
Tommy Salerno: Thanks. Boys, stay safe out there with this action.
01:17:22.099 --> 01:17:25.869
Alexander Winkler: Yeah, for real. No more trading today. Close the apps.
01:17:26.210 --> 01:17:26.880
Toby Dawson: Thank you.
01:17:27.359 --> 01:17:31.009
Colby Warshel: Alright. Take it easy, guys. See you next week.