Traders Of The Podcast

Podcast Overview

πŸŽ‰ Hello Insiders - Episode 33 is live! 🎧

Dive into this enriching episode where we unravel the intricacies of summer market strategies and delve deep into personal growth with insights from "Atomic Habits" by James Clear. As we navigate the realm of personal pressures, career choices, and the traits of successful individuals, we also take a moment to spotlight the "DUMB MONEY" movie and the thrilling CART stock IPO. Episode 34 is a symphony of trading knowledge, life wisdom, and entertainment. 

0:00 πŸ“Š Latest Tickers & Trades (DTCK, AVGR)
11:08 πŸƒ‍♂️ Danny's Running P&L
16:30 🌐 Managing Market Exposure
19:43 πŸ” Improving Your Long-Term Expected Value
21:43 πŸ“˜ Atomic Habits by James Clear
26:35 ❀️ Personal Pressures & Happiness
35:45 🌟 Highly Successful People Traits
38:30 πŸ€” Superiority Complex & Career Choice
47:31 βš–οΈ Fear vs Desire
49:11 🌌 Strengths & Weakness
54:23 🏒 Is Having a Job The Best Route?
59:32 πŸ“ˆ CART Stock IPO
1:02:32 🎬 DUMB MONEY Movie & Netflix Series
1:04:26 πŸ“… Gameplans Going Forward
1:07:23 πŸŽ₯ Podcast Shorts Now on TikTok (Thanks Tom!)
1:09:32 🀝 Learning From Other Traders

πŸ‘‰ 🎧 

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 ❀️

Superiority Complex of High Performers & Market Exposure PRO TIP #E34


Full Transcript

00:00:00.000 --> 00:00:08.359
Tommy Salerno: Do you trade. Ai. I guess you traded. Avgr. I saw I saw that one picture. You got that quick spike up to 11.

00:00:09.099 --> 00:00:18.528
Tommy Salerno: Oh, yesterday. Yeah, just this morning. It's quick spike up to 110, yeah. Also, after hours as well got that one as well right up to 12.

00:00:19.239 --> 00:00:21.418
Danny Camozzo: Yeah, yeah. Where did you see that

00:00:22.169 --> 00:00:23.998
Tommy Salerno: I was in Rt's chat.

00:00:24.149 --> 00:00:28.529
Danny Camozzo: Yeah, I'm I'm in this chat, too. I lurk around.

00:00:29.049 --> 00:00:41.349
Tommy Salerno: yeah.

00:00:41.529 --> 00:00:47.248
Danny Camozzo: I what was I doing yesterday? I was. I was just hanging out. II

00:00:48.049 --> 00:00:54.728
Danny Camozzo: You know I trade in the morning I go to the gym. I do my stuff. Lately I've been doing pretty well to

00:00:54.930 --> 00:00:57.769
Danny Camozzo: not come back later.

00:00:57.779 --> 00:01:00.180
Danny Camozzo: Yesterday

00:01:00.389 --> 00:01:08.599
Danny Camozzo: I did, and I took one trade on Dto. C. As Ccg. Was squeezing up, going crazy.

00:01:08.949 --> 00:01:11.378
Danny Camozzo: I took a trade on Dto. C.

00:01:11.829 --> 00:01:19.669
Danny Camozzo: I can start sharing my screen. Why not? Yeah. While the host disabled and the host doesn't seem to be here. So

00:01:20.219 --> 00:01:28.899
Danny Camozzo:  I took one grade on Dto. C, where it had halted down at like 28,

00:01:28.989 --> 00:01:34.668
Danny Camozzo: 2,835, or something like that, and it resumed flat 2,835.

00:01:34.699 --> 00:01:39.569
Danny Camozzo: So I took 300 shares, and I got filled on the ask at 2930

00:01:39.599 --> 00:01:52.258
Danny Camozzo:  And I was like the only person who bought anything next minute. I know it's down at 2550, and I'm bailing for an $1,100 loss

00:01:52.469 --> 00:01:57.539
Danny Camozzo: But then, a few minutes later, it started squeezing back up. I took a trade from 30,

00:01:57.979 --> 00:02:09.899
Danny Camozzo: 300 chairs again. I took some out at like 31 something going into the hall up, and then it resumed, at 35. So I managed, oh, and actually, I'm

00:02:09.949 --> 00:02:13.469
Danny Camozzo: I'm in this DTCK. Right now.

00:02:15.589 --> 00:02:17.579
Danny Camozzo: which is

00:02:18.329 --> 00:02:22.609
Danny Camozzo: garbage unsurprisingly. It's an American. Ipo.

00:02:23.319 --> 00:02:26.548
Danny Camozzo:  1 s

00:02:27.370 --> 00:02:30.069
Danny Camozzo: straight into the halt down awesome.

00:02:31.629 --> 00:02:40.269
Danny Camozzo:  I took the halt going up on Dto. C. And I went from a negative 1,100 to negative 3 50 on it at least.

00:02:40.389 --> 00:02:50.998
Danny Camozzo:  And then I was just hanging out, just doing my afternoon stuff. I had a meeting. I was still just in front of my computer, doing other things

00:02:51.169 --> 00:03:01.289
Danny Camozzo: like, Youtube, I started seeing Avgr squeezing, and I got in at like 8 79, and got out

00:03:01.979 --> 00:03:06.659
Danny Camozzo: with the last of my shares, for like a few dollars a share.

00:03:07.019 --> 00:03:11.848
Danny Camozzo: But then I tried to buy the pole back. and it wasn't a pullback. It just went

00:03:12.009 --> 00:03:14.339
Danny Camozzo: straight down as you saw

00:03:14.689 --> 00:03:36.319
Danny Camozzo: so II made another 1,000 on that move up. And then I gave half of that back. So it was like kind of frustrating that it just went straight down. But at least I still made 500 more than I had before I took those trades. So whatever?

00:03:37.339 --> 00:03:39.579
Tommy Salerno: Yeah. So let me mute.

00:03:41.128 --> 00:03:41.920
Alexander Winkler: Hmm.

00:03:42.748 --> 00:03:43.810
Danny Camozzo: what'd you say?

00:03:45.819 --> 00:03:51.879
Tommy Salerno: Yeah, just a just a quick question. What you saw on that trade on after hours. How did

00:03:51.900 --> 00:03:56.738
Tommy Salerno: how did you like? Clearly, I saw some entries

00:03:57.550 --> 00:04:04.799
Tommy Salerno: that you talk on that stock that was so like so extended. And the market

00:04:04.999 --> 00:04:17.108
Tommy Salerno: yeah, that in a market that isn't very fair is very well. With the front side. Parabolic moves. So I was just curious, like, what are you seeing on the level to to get in at that level?

00:04:17.150 --> 00:04:18.518
Danny Camozzo: There was one

00:04:18.680 --> 00:04:25.369
Danny Camozzo: specific thing that I saw, which was a 25,000 share. Bid that continued pushing it higher.

00:04:25.439 --> 00:04:30.518
Danny Camozzo: and I saw it come in in like the sevens and low eights

00:04:30.900 --> 00:04:44.679
Danny Camozzo: and and like you just said I was like, there's no way I can get in up here. And then I saw it come back in. So I was like, you, son of a bitch, I'm in. Yeah. So you. So you then you hit the you hit the market or to ask.

00:04:45.019 --> 00:04:58.059
Tommy Salerno: or you can do market. So you had to do. Ask for bid right? I don't remember, but I would, I would imagine I probably hit the ask, and then you were you just kind of monitoring the level to that.

00:04:58.069 --> 00:05:11.008
Danny Camozzo: Make sure that order still there, as you're in the trade, and then you have pretty much that order disappears, it gets sold into you. Sell into that exactly.

00:05:11.030 --> 00:05:20.060
Alexander Winkler: We saw it break. Well, now that Alex is here, maybe I can share my screen when I got in. I was like, Oh, no.

00:05:20.239 --> 00:05:27.389
Danny Camozzo: And this is gonna resume at O 9 31. So I need to pay attention to that. Dtk.

00:05:27.550 --> 00:05:29.759
Danny Camozzo: yeah,

00:05:31.680 --> 00:05:34.689
Danny Camozzo: that was this morning. This was yesterday.

00:05:34.859 --> 00:05:44.160
Danny Camozzo:  so I saw it breaking out here. And I was like, that's interesting. It's coming back to view up, but I didn't expect anything more than that

00:05:44.449 --> 00:05:45.489
Danny Camozzo: out of it.

00:05:45.900 --> 00:05:49.540
Danny Camozzo: And then, once it started, kind of getting into the mid-sevens

00:05:49.719 --> 00:05:57.269
Danny Camozzo: is where I started seeing some bids coming in, and then and then it broke high of day.

00:05:57.379 --> 00:06:09.838
Danny Camozzo: And it paused for a second. As you can see here.  I can't remember if I was in in the 80 s. Or at 79, but I was in right around here

00:06:09.859 --> 00:06:16.209
Danny Camozzo: as I saw that 25,000 share bid come in, and then in that case,

00:06:16.639 --> 00:06:22.838
Danny Camozzo: If I'm ever in a trade like this, especially after hours, why, I can't really bail that easily.

00:06:22.869 --> 00:06:40.619
Danny Camozzo: This is the type of trade where I need to see it going immediately higher and like hopefully, a lot higher. Pretty much the second I get into that trade, and it did so. I was like great. That was the right trade to take. And at that point there's no adding, it's only scaling out

00:06:40.670 --> 00:06:45.719
Danny Camozzo: has as it slows down on the way up.

00:06:46.359 --> 00:06:50.199
Danny Camozzo: So I don't know why, but Dos

00:06:50.319 --> 00:06:53.489
Danny Camozzo: doesn't really seem to

00:06:54.019 --> 00:06:58.209
Danny Camozzo: show trades from the day before.

00:06:59.089 --> 00:07:02.199
Danny Camozzo: See if I can get back there and

00:07:03.819 --> 00:07:04.910
Danny Camozzo: see that.

00:07:05.329 --> 00:07:14.579
Danny Camozzo: Yeah, unfortunately, I do have a screenshot of it. You have the screenshot, or probably on a trader view, it probably shows that as well.

00:07:14.810 --> 00:07:16.680
Danny Camozzo: Yeah.

00:07:19.810 --> 00:07:22.128
Tommy Salerno: but yeah, that's just like a very.

00:07:22.979 --> 00:07:29.059
Danny Camozzo: That's a ballsy trade. That's a ballsy trade after hours.

00:07:29.099 --> 00:07:31.508
Danny Camozzo: I wish that this wouldn't stop

00:07:31.599 --> 00:07:34.019
Danny Camozzo: doing what it's doing.

00:07:34.829 --> 00:07:38.389
Danny Camozzo: It should be opening in 5 s, though nearly flat.

00:07:38.670 --> 00:07:39.349

00:07:40.999 --> 00:07:44.589
Danny Camozzo: And I'm out. So I took this trade here.

00:07:44.949 --> 00:07:47.549
Danny Camozzo: Actually, that was a nice trade. So this halted up.

00:07:47.579 --> 00:08:00.468
Danny Camozzo: I had 0 interest in this earlier, because it's an American, Ipo. And when's the last time we saw an American Ipo do anything interesting. Unfortunately.  but it halted up here.

00:08:00.959 --> 00:08:04.349
Danny Camozzo: It resumed. At 6, 49.

00:08:04.579 --> 00:08:09.799
Danny Camozzo:  pushed up to 7, dipped. I bought at 6, 30,

00:08:09.869 --> 00:08:19.180
Danny Camozzo: smaller size, because I didn't want to ruin my day, and then I sold through here. But I was holding just a hundred shares of the 800 that I bought

00:08:19.599 --> 00:08:27.290
Danny Camozzo: going into this halt, and I should have sold, I guess, but I wasn't expecting it to have just an entire retracement candle.

00:08:27.769 --> 00:08:34.358
Danny Camozzo:  so it's looking like it's trying to test the upside now. But

00:08:34.779 --> 00:08:39.319
Danny Camozzo:  a vgr yesterday.

00:08:40.019 --> 00:08:41.150
Danny Camozzo: See?

00:08:42.150 --> 00:08:46.029
Danny Camozzo:  Where would it be? Trades.

00:08:46.230 --> 00:08:47.499
Danny Camozzo: That would be.

00:08:48.549 --> 00:08:49.769
Danny Camozzo: let's say, anyway.

00:08:52.009 --> 00:08:59.000
Danny Camozzo: it should be under viewing that trade at specific trade. Yeah. So that was

00:08:59.379 --> 00:09:01.589
Danny Camozzo: that was this one.

00:09:05.059 --> 00:09:15.430
Tommy Salerno: Yeah, there you go. Here it is. Wow! That's the more yeah. That was. Oh, it isn't show. It doesn't show. After hours on

00:09:15.950 --> 00:09:24.799
Alexander Winkler: there might be an option for that it doesn't show it at all. Does it go to that on the bottom? Right? Go to what?

00:09:24.869 --> 00:09:27.829
Alexander Winkler: Yeah. There, yeah, there's this gear, icon

00:09:28.500 --> 00:09:39.769
Danny Camozzo: time. Zones. No session cause on the actual trader. Trading view, you can add free market.

00:09:40.240 --> 00:09:41.759
Alexander Winkler: But I guess

00:09:42.579 --> 00:09:49.759
Danny Camozzo: no, okay, that's unfortunate. Could be on your classic charts, too. What's that?

00:09:49.799 --> 00:09:53.950
Danny Camozzo: Yeah. I looked at that. That's just their old charts that they show which.

00:09:54.490 --> 00:09:56.319
Alexander Winkler: But you're pretty nice as well.

00:09:56.519 --> 00:10:01.210
Danny Camozzo: I like these charts. They are nice. Yeah, but it doesn't seem to be

00:10:01.660 --> 00:10:04.039
Danny Camozzo: showing what I wanted to.

00:10:04.690 --> 00:10:07.338
Danny Camozzo: Yeah, that's unfortunate. But

00:10:08.359 --> 00:10:10.658
Danny Camozzo: yeah, I did. Well on that. I

00:10:11.700 --> 00:10:16.369
Danny Camozzo: and some nice trades on that. So I got in just with my one entry at

00:10:16.930 --> 00:10:19.430
Danny Camozzo: wherever it was. I think 8, 79

00:10:19.450 --> 00:10:24.769
Danny Camozzo:  sold here just as it popped over 9 sold, sold, sold all the way up.

00:10:24.980 --> 00:10:26.129
Alexander Winkler: Oh, yeah.

00:10:27.099 --> 00:10:29.288
Danny Camozzo: Got a nice exit there.

00:10:30.759 --> 00:10:37.190
Danny Camozzo:  yeah. yeah, anyways.

00:10:40.529 --> 00:10:41.400
Danny Camozzo: So

00:10:41.869 --> 00:10:46.558
Alexander Winkler: I missed the first part, Danny, how's how's the like running P and L going in general?

00:10:46.680 --> 00:10:56.158
Danny Camozzo: Like, since last week? Yeah, since the little bit of a headache you've had, which I've also traumatizing as well.

00:10:56.670 --> 00:11:04.769
Danny Camozzo: This is the first couple of days in a row that I've had since I had that Major Red day and

00:11:04.990 --> 00:11:07.128
Danny Camozzo: kind of tougher streak.

00:11:07.240 --> 00:11:10.548
Danny Camozzo:  I've been doing pretty well

00:11:10.579 --> 00:11:11.680
Danny Camozzo: since

00:11:12.440 --> 00:11:24.950
Danny Camozzo: I mean last week was decent overall in terms of like green versus red days. I actually finally only had one red day last week on Wednesday, and it was manageable. It was like 600.

00:11:25.460 --> 00:11:31.369
Danny Camozzo: yeah, like, that's a very normal, very acceptable red day for me. And then

00:11:32.660 --> 00:11:34.150
Danny Camozzo: Friday.

00:11:34.819 --> 00:11:37.858
Danny Camozzo: I don't remember how Friday went. How did Friday go?

00:11:39.139 --> 00:11:46.700
Danny Camozzo: 600? I only traded arm on Friday. It was super slow, but I still had a half decent green day.

00:11:46.710 --> 00:11:52.470
Danny Camozzo: And then yesterday was pretty solid. I ended up at 1,500, and today

00:11:52.599 --> 00:11:58.269
Danny Camozzo: I am just over 3,000 with that Dtc trade right there.

00:11:58.430 --> 00:12:10.430
Danny Camozzo:  so yeah, I I am seemingly picking up some steam, but I am just being really

00:12:11.068 --> 00:12:14.860
Danny Camozzo: conscious and mindful trying to be

00:12:15.210 --> 00:12:25.960
Danny Camozzo: I've been talking with my friend Max, who he's one of the other, like verified, profitable guys at Warrior. He actually has a million dollar badge

00:12:26.710 --> 00:12:41.989
Danny Camozzo: and he's super young. He's like 22, but he and I probably trade the most similar out of any of the other like warrior mentors, and we're both in a drawdown for September, and both having the same exact things going on.

00:12:42.559 --> 00:12:46.559
Danny Camozzo: I've been watching a lot of videos from Lance Breitstein

00:12:46.809 --> 00:12:52.709
Danny Camozzo: lately especially, and they've been super helpful for me.

00:12:52.750 --> 00:12:54.090
Danny Camozzo: I think.

00:12:54.180 --> 00:13:06.650
Danny Camozzo: just on mindset. And like I started doing a daily report card last week? and I'm just trying to be really specific about the trades that I'm taking, like

00:13:08.000 --> 00:13:25.749
Danny Camozzo: always asking myself, is this a trade that I really wanna be in because I think that it's going to help my day, my Pnl, or am I trading it just because it's sort of price action, or because I'm here, or because I'm bored.

00:13:26.009 --> 00:13:43.429
Danny Camozzo:  So Max and I have both been talking about. We're both in a drawdown. I am in probably like a 1211 to $12,000 hole for September now, which is better than it was, and it's starting to look like maybe I can get out of it at this point

00:13:43.900 --> 00:13:51.548
Danny Camozzo: before the end of the month. He's in a like 25,000 drawdown, which is the same boat for him with the size that he trades.

00:13:51.970 --> 00:13:55.209
Danny Camozzo: So we were just talking today about

00:13:56.549 --> 00:14:08.249
Danny Camozzo: all we need is just a couple solid days and try to avoid the mistakes in between. And that's really it. The mistakes in between have been tough lately. But

00:14:08.460 --> 00:14:17.318
Danny Camozzo: I feel finally, with a couple of solid days, like I'm starting to get into and in touch, and a little more confidence back.

00:14:17.789 --> 00:14:18.700
Danny Camozzo: So

00:14:19.240 --> 00:14:31.120
Danny Camozzo: it hasn't been easy. The price action on Avgr today was not easy, but it gave some really nice opportunity, some really nice range. And in my opinion.

00:14:31.269 --> 00:14:35.808
Danny Camozzo: it was pretty clear when it was going to squeeze.

00:14:36.590 --> 00:14:40.409
Danny Camozzo:  yeah, I agree with that. Actually

00:14:40.440 --> 00:14:47.989
Alexander Winkler: there, was it? It was kind of like a little bit of a buildup, and you can. But it was. It was holding support zones and started running higher again.

00:14:48.420 --> 00:14:55.870
Danny Camozzo: The major thing, the major clue for me on a gr that maybe it was gonna squeeze, or at least have

00:14:55.980 --> 00:15:03.309
Danny Camozzo: a strong candle like this was just how it was completely holding up, despite the rejections.

00:15:03.350 --> 00:15:06.329
Danny Camozzo: You know we had this push out of the open.

00:15:06.400 --> 00:15:28.850
Danny Camozzo: And actually II made the mistake of trading at Pre market. I took 3 ish trades on it pre market for a loss on every single one, so I came into the market open down like 2, 75 on it, which is small for me. That's fine. My first trade off of like this dip into the opening push, got myself up to 800 on it.

00:15:29.069 --> 00:15:38.239
Danny Camozzo: took my hands off as it did this, and then, as it kept coming up here and testing and topping tails, but continuing to hold

00:15:38.890 --> 00:15:41.209
Danny Camozzo: I took this trade

00:15:41.259 --> 00:15:50.169
Danny Camozzo: and sold into this push. The only problem on a VGR. Was these big rejections as it had this move.

00:15:50.870 --> 00:15:54.410
Danny Camozzo: I took this trade here, I think, from like 1020,

00:15:54.440 --> 00:16:00.480
Danny Camozzo: and sold. I think I got some out over 11 but

00:16:00.890 --> 00:16:13.749
Danny Camozzo: like, despite these huge rejections, it was still holding up and not breaking down, and then starting to curl, and then it had huge spikes. But you had to be really quick to sell into them.

00:16:15.940 --> 00:16:17.120
Alexander Winkler: Yeah.

00:16:18.340 --> 00:16:19.210
Alexander Winkler: yeah.

00:16:20.730 --> 00:16:29.149
Alexander Winkler: Yeah. Pre market has been really tough lately, and I guess to add to what you were saying about

00:16:29.160 --> 00:16:44.640
Alexander Winkler: avoiding the the the nasty stuff right avoiding. Are you bored right now? Why are you taking this straight last week? I don't know what happened to me, but I got on tilt or something, and I, you know, ended the week down like 3,500, roughly, and

00:16:44.640 --> 00:16:53.600
Alexander Winkler: I was like all. So I was taking so many really bad trades. And so today or Monday, I came into the market saying, You know what I'm gonna

00:16:53.600 --> 00:17:17.329
Alexander Winkler: I'm gonna stick around till 7 30, if nothing is tradable. So like if I'm not, you know, trading a decent front side, I'm gonna walk away till market opens so like 10 min before the market opens. And I did that Monday and today that allowed me just to give myself a little space and calm down and do something else. Because lately I've noticed, my biggest problem is just market exposure. It's that simple sitting around and staring at charts that are

00:17:17.329 --> 00:17:22.808
Alexander Winkler: yeah, doing nothing. That's how I'm getting into trouble. So I was like, I need to cut that totally out.

00:17:22.819 --> 00:17:23.860
Alexander Winkler: So

00:17:24.329 --> 00:17:25.370
Alexander Winkler: yeah.

00:17:25.579 --> 00:17:34.799
Alexander Winkler: focus on the best stuff and otherwise limit my exposure today. I think I walked away slightly too soon. I didn't get that last.

00:17:34.860 --> 00:18:00.949
Alexander Winkler: you know. Breakout fake out on Avgr, which I think there was a lot of problems. I kind of walked away around 100'clock. So I think if I stayed another 10 min or so, yeah, that that big spike over 11 that I was just showing. Yeah, that was a nice spike, and I'm pretty sure I could have done that one. Well, cause I had the anticipation. We were going to break over 1050, and I was very sure it was going to be a fake out breakout, so I think I would have traded it right. So many profits

00:18:01.079 --> 00:18:15.328
Alexander Winkler: like going, you know, up couple of 100 or up 1,000, and then like going deep like I had, you know $2.4,000 red day at a $1,400 red day like really nasty. So I was like, I need to give myself a little space. But yeah.

00:18:15.410 --> 00:18:26.058
Danny Camozzo: well, I mean, it's good to recognize them. I feel like the first step is recognizing it. And then you're like man. I think I probably would have hit that decently well. And then

00:18:26.180 --> 00:18:31.229
Danny Camozzo: the the problem with this market I feel like is those moves are happening

00:18:31.420 --> 00:18:54.930
Danny Camozzo: at like really different times each day. That's like yesterday. Avgr was holding up really? Well, and I just felt like it was gonna squeeze. And but I didn't wanna wait around the whole day for it to squeeze. So I went to the gym and like, halfway through my workout. I checked my phone and I was like, it's doing it.

00:18:55.100 --> 00:18:59.910
Danny Camozzo: So so classic me, I took a thousand shares on my phone.

00:18:59.930 --> 00:19:06.410
Danny Camozzo: I got like 10 cents out of it, so like, I guess. At least I felt like I

00:19:06.420 --> 00:19:19.308
Danny Camozzo: got something on it. but that's the problem right now is, sometimes those moves are happening at 7 am. More often than not they're happening at like 10 or 11, or 10 or 11

00:19:19.350 --> 00:19:27.219
Danny Camozzo: and then they just fade through power hour, which sucks. Yeah, but

00:19:27.950 --> 00:19:29.880
Danny Camozzo: I don't know.

00:19:30.519 --> 00:19:31.880
Danny Camozzo: yeah, it's been difficult.

00:19:33.100 --> 00:19:44.890
Danny Camozzo: I just keep thinking, though, and going back to some stuff that Lance talks about essentially, which is when you go through these tougher periods.

00:19:45.289 --> 00:19:51.308
Danny Camozzo: If you can really actively put some focus onto what you're doing wrong and how to improve it and get better.

00:19:51.340 --> 00:19:57.880
Danny Camozzo: All that is happening is you're increasing your long-term overall expected value.

00:19:58.110 --> 00:19:59.390
Danny Camozzo: And

00:20:00.400 --> 00:20:12.119
Danny Camozzo: from the work that I've been doing so far, I feel like I am actually realizing that profit wise, and at the very least it makes me feel a little better about myself.

00:20:12.299 --> 00:20:15.189
Colby Warshel: Do you follow this on Twitter, or do you have a twitter.

00:20:15.309 --> 00:20:21.588
Danny Camozzo: No, I have Twitter, but I really don't use it, and the more that Elon

00:20:21.880 --> 00:20:25.949
Danny Camozzo: screws it the less I want to use it. So

00:20:26.059 --> 00:20:34.519
Danny Camozzo: you you should. If you do use it, you should just turn on the notifications for Lance, because his post on Twitter are super good, like he'll talk about how

00:20:35.079 --> 00:20:36.400
Colby Warshel: he'll be like

00:20:36.620 --> 00:21:00.689
Colby Warshel: whenever you're implementing a solution to a problem like, take that as far as you possibly can, and he's like. For example, here's one of the traders that we have at our desk. He over trades. So his solution is like. At 1030 you have an alarm on your phone that tells you to stop trading. And then Lance was like, Well, what do you say? Do? It doesn't work.

00:21:00.759 --> 00:21:29.529
Colby Warshel: He's like what he should do is like to completely eliminate distractions. You should have apps on his phone that th, that limit his amount of screen time he can have on his phone, and then he has, like an alarm clock that goes off at 1030. It's not a normal alarm clock. It's one that actually sits on your desk. It's gonna shake and vibrate. That's literally like physical, you know, on your face. And then he has like. Whenever you have the alarm clock go off. You have to write like 4 reasons why you're either over trading or under. You know what I mean. It's like, take it 10 steps further than like the first step.

00:21:29.529 --> 00:21:32.319
Colby Warshel: and that would like make it even more effective. But

00:21:32.759 --> 00:21:50.058
Danny Camozzo: I know that he frequently references atomic habits which I have not fully finished yet, but II started it. I forget if it was like months ago. I think it was just months ago. And I have like 2 h left on the audio book. So I'm most of the way through

00:21:50.190 --> 00:22:04.479
Danny Camozzo: and I've kind of started listening to it again. But one of the major things that he and James clear kind of preach is like, whenever you're trying to change a habit or break a habit. It's all about

00:22:04.490 --> 00:22:07.219
Danny Camozzo: how much friction there is with that habit.

00:22:07.319 --> 00:22:23.840
Danny Camozzo: So like, if you're trying to watch TV less, put the remote in the other room, or take the batteries out, put the batteries in the other room, or even if you want to go to extremes, move the TV out of the room and move it back in when you want to watch TV,

00:22:24.870 --> 00:22:27.529
Danny Camozzo: and I think about that. And

00:22:27.750 --> 00:22:32.079
Danny Camozzo: I think about like, my biggest issue probably is

00:22:32.160 --> 00:22:38.880
Danny Camozzo: not necessarily trading too much. It's over trading when there is no edge

00:22:38.960 --> 00:22:48.629
Danny Camozzo:  and I haven't so far found a real good solution for like putting actual friction on that.

00:22:48.950 --> 00:22:51.170
Danny Camozzo: because as long as I'm sitting here.

00:22:51.390 --> 00:22:56.150
Danny Camozzo:  like there's nothing stopping me from pressing buttons.

00:22:56.529 --> 00:23:06.429
Danny Camozzo: so I don't know. I don't know what ideas there might be to like put friction on that. Or if it's just something that I need to get better at.

00:23:06.549 --> 00:23:34.108
Alexander Winkler: I find it so hard. That's why I was saying before I literally close my or I don't know if I said it before. But the whole 7 30 thing, if there was nothing moving by then, because I'm typically a Pre market focus trader. I close my tos because before I was like, Yeah, I'm not going to trade pre market. If there's no setup. And then there'd be like those like, you know, crap volume, little weasels trying to break vap. And I would trade that crap. And then, before you know it, I'm down to like, you know, 1,000 bucks pre market doing like trading nonsense.

00:23:34.110 --> 00:23:47.920
Alexander Winkler: And II was like, Okay, if Tus is open, I see my charts. I'm gonna trade anything that moves, because sometimes you have to take steps to the forward works. That's just how it goes. So I literally had to close my to us, and then it's fine, you know. Even if I see someone say something to discord.

00:23:47.920 --> 00:24:10.119
Alexander Winkler: I typically can relax and like not get Fomo. It's this, if it's if my tos is open, that's the that's the pivot for me. So I guess that's in terms of atomic habits. I read that book, too. It's really good. But yeah, that's that's how I make it a little bit more difficult. That's my barrier, inevitably going to delete some edge, because

00:24:10.500 --> 00:24:15.250
Colby Warshel: that your home, if you're training small caps like, what are you gonna do? Turn the auto, send off.

00:24:15.490 --> 00:24:25.509
Colby Warshel: but you gotta click an extra button to let the order go through. Well, that wouldn't fucking work that's gonna immediately make you like, not even a profitable trader. So that's tough. That's a hard thing to think about.

00:24:25.940 --> 00:24:32.199
Colby Warshel: I like when he talks about how you should always replace bad habits with another habit.

00:24:32.350 --> 00:24:35.348
Danny Camozzo: Yeah, it's just healthier, like, I think that's an awesome.

00:24:35.420 --> 00:24:45.838
Danny Camozzo: That's something that because so many people try to stop doing something, and it's fucking impossible. If you don't try to replace it. You know what I mean, did you guys ever watch? Hey, Arnold.

00:24:46.120 --> 00:24:53.069
Danny Camozzo: do you remember that kid that was like obsessed with chocolate?

00:24:53.840 --> 00:25:01.068
Tommy Salerno: He's like, he makes this weird breathing noise. Right? I don't. I don't know. It might have been stupid.

00:25:01.650 --> 00:25:13.348
Danny Camozzo: He was obsessed with chocolate. He just he just was constantly stuffing his face face with chocolate, and eventually one of the episodes. They got him to transition to radishes.

00:25:13.730 --> 00:25:17.788
Danny Camozzo: But that's what that makes me think of

00:25:17.980 --> 00:25:27.949
Tommy Salerno: one thing about I was. I was gonna say one thing about reducing over trading ever since I moved over to Das. What I like to do is

00:25:28.380 --> 00:25:46.249
Tommy Salerno: when I log in. I only have my TV open, only the trait, only the charts. But I don't my desk until I actually see something. And so it does take, like maybe about 30 s, to load everything up and get everything ready. And by then, like hopefully, you know, most of those stocks have dumped already and made it

00:25:46.289 --> 00:25:57.778
Danny Camozzo: dump, move, and I don't have to trade any of it. But the problem with dust, though, is that it's such a lightweight program on my computer. I can

00:25:57.930 --> 00:26:00.778
Danny Camozzo: click the the app icon

00:26:00.860 --> 00:26:14.269
Danny Camozzo: and the login screen pops up, and between clicking the icon and having everything up and ready, it's like 10 s. It's

00:26:15.720 --> 00:26:19.840
Danny Camozzo: bunch of crack babies.

00:26:19.900 --> 00:26:20.970
Alexander Winkler: the

00:26:21.009 --> 00:26:31.889
Danny Camozzo: we're just chasing our dopamine heads, that's all.

00:26:32.220 --> 00:26:47.940
Danny Camozzo: I can be hard on myself and like one of my main goals that I'm so focused on right now is being able to buy a house, maybe in the bay, or just like in general, at some point. You know I'm 31.

00:26:47.990 --> 00:26:58.850
Danny Camozzo: It would be nice to own a house at some point in in a way that, like financially makes sense. I don't think with the rates and all of that right now, that's a different discussion. But

00:26:58.910 --> 00:27:05.390
Danny Camozzo: like buying a house is one of my main financial goals and

00:27:05.750 --> 00:27:09.110
Danny Camozzo: it can be easy

00:27:09.120 --> 00:27:19.959
Danny Camozzo: to feel like that's far away, but at the same time, like it doesn't make any sense to be unsatisfied or unhappy with having a 3,000 day right now.

00:27:20.309 --> 00:27:21.559
Danny Camozzo: even though

00:27:21.620 --> 00:27:28.400
Danny Camozzo: it feels like I probably need like a hundred more of those to buy a house. It's like, well.

00:27:28.819 --> 00:27:35.459
Danny Camozzo: I can still be pretty happy today with that. And like, what's the point of life

00:27:35.470 --> 00:27:41.150
Danny Camozzo: if all you're thinking about is this goal that you have in the future.

00:27:41.670 --> 00:27:43.459
Danny Camozzo: I was watching

00:27:44.640 --> 00:27:46.740
Danny Camozzo: a video

00:27:46.850 --> 00:27:52.110
Danny Camozzo: on trading psychology how to handle Fomo with Dr. Steenbarger.

00:27:52.660 --> 00:27:58.298
Danny Camozzo: The other day, and he was talking about how, especially with trading, it's

00:27:59.150 --> 00:28:01.980
Danny Camozzo: dangerous and and a bad idea to have

00:28:02.090 --> 00:28:15.079
Danny Camozzo: your happiness tied only to your trading. P. And L. Like you need to have some other life. P. And L. Things going on aside from, you know, am I going to be happy today or sad today? Be based on how I traded

00:28:16.380 --> 00:28:20.870
Colby Warshel: 100%, absolutely. Do you guys find that like, it's, it's

00:28:21.890 --> 00:28:30.179
Colby Warshel: it's like, even just yesterday, I'm at a good trade. And I just had a great day, and by the end of the day I was like. how much did that trade

00:28:30.269 --> 00:28:40.028
Colby Warshel: affect my happiness of the day? And II have to really sit and think, cause I think it was a fucking lot, like I genuinely think that it affected me a lot like I was just.

00:28:40.380 --> 00:28:56.299
Colby Warshel: you know, making lunch, and I'm just like, Oh, lunch, you know, fucking, cooking. Yeah, fucking lunch sucks, though, when you lose $1,000 it's like, you know, it's like it's so hard to to fully detach that. And I think honestly, it's gonna take

00:28:56.380 --> 00:29:09.929
Colby Warshel: 10 years before we're completely like I made $10,000 today. I truly do not even give a fuck at all. I lost $5,000 today, truly. Do not even think of it like it's not even part of your

00:29:10.530 --> 00:29:26.108
Colby Warshel: just like you're moving like a robot for the first 4 h of the day. And then, like the rest of it's over, you know it's it's funny you mentioned that because I was literally telling my girlfriend what was it like? 3 or 4 days? Like maybe, was Wednesday last week, or something, cause. I just had my big red day, and I was like man meet

00:29:26.250 --> 00:29:51.749
Alexander Winkler: a couple of years ago. If I had a 2.5,000 red day I would be pretty upset. But we were walking to the grocery store, and I just I almost. I was very desensitized like I didn't really care I was. Of course I'm frustrated because it's like, you know, the grind. And but I was like, in terms of actually thinking about the money. Not one thought was going towards that. I really didn't care about the money. It was more of just like I was annoyed that it was just like kind of wasting my time, and a slow

00:29:51.789 --> 00:30:07.249
Alexander Winkler: it was more like, that's why I was annoyed. I noticed that. And I was like, Huh, like, well, I'm kind of getting desensitized a little bit, which is which I guess is great. I mean throwing money around. But yeah, I was. I was on tilt last last week, for sure. So

00:30:07.510 --> 00:30:19.619
Danny Camozzo: I think that it definitely takes some losses to kind of detach from that. And there's nothing wrong with being happy and having a good day, cause you had a good day in the market.

00:30:19.639 --> 00:30:26.028
Danny Camozzo:  it's interesting and funny and kind of sucks a little bit, but

00:30:26.039 --> 00:30:34.010
Danny Camozzo: usually like I'm up 3,100 or something like that today. Which is an awesome day. But

00:30:34.820 --> 00:30:38.449
Danny Camozzo: I know that I don't feel as happy

00:30:38.470 --> 00:30:49.378
Danny Camozzo: being up 3,100 as I would feel upset if I were down 3,100, which always is the case, and I try to keep that in mind.

00:30:49.429 --> 00:30:53.030
Danny Camozzo: especially on my red days of like

00:30:53.480 --> 00:31:02.130
Danny Camozzo: try not to get too bad out of shape if I'm having a red day, if I wouldn't be the same amount happy with, however green I was in comparison.

00:31:02.260 --> 00:31:05.090
Alexander Winkler: That's that's a real psychological

00:31:06.170 --> 00:31:17.039
Alexander Winkler: that's proven like loss feels worse than winning. If you give someone like $5. But then you take away one. It feels much worse than

00:31:17.079 --> 00:31:20.358
Alexander Winkler: I don't have a really good experiment about that. I forgot. I forgot.

00:31:21.369 --> 00:31:24.489
Alexander Winkler: Remember reading about it. Oh, yeah, sorry. That's

00:31:24.740 --> 00:31:32.769
Tommy Salerno: to take to take this idea step further. I know. And II step. I fell into that trap when I first started training a lot is like I

00:31:33.159 --> 00:31:48.659
Tommy Salerno: I suspended my happiness to until I was like making some amount of money or, being a full time trader, I would suspend my happiness, and I wouldn't allow myself to enjoy my every day, cause I was always thinking about it.

00:31:48.730 --> 00:32:17.559
Tommy Salerno: and the one thing holding me back from letting go of that idea was that if I were to let go of that I would lose the motivation where I'd lose my intensity to be successful at this, and that's why I think a lot of people suspend their happiness is because of that extra kick in the ass that maybe they will. You know they suspend their happiness. They'll have that super like intensity or high motivation to to actually complete it. We're actually

00:32:17.710 --> 00:32:19.119
Tommy Salerno: fulfill your goals.

00:32:19.490 --> 00:32:24.548
Tommy Salerno: But I'm not sure. What do you guys think about that? Does that actually give you the motivation? Or.

00:32:24.710 --> 00:32:38.240
Danny Camozzo: do you think being detached always is the best way to go. Well, it's that same issue that I was just talking about is like, I'll be happy when but realistically, that when is never gonna come, yeah.

00:32:38.260 --> 00:32:47.300
Danny Camozzo: like, I know that it's gonna feel great someday to buy a house or buy a Ferrari, or whatever it is. But then, what like?

00:32:47.389 --> 00:32:49.820
Danny Camozzo: That's not my purpose in life.

00:32:50.039 --> 00:33:07.929
Danny Camozzo: But I think that's such a common issue is like, I'll be happy when this happens, or this happens, or whatever like, I'll let myself feel happy, or I won't be stressed when this happens. Like. Obviously money and making money

00:33:08.010 --> 00:33:20.179
Danny Camozzo: can help with relieving stress or making you feel happy, or like one of the things that I appreciate about making money in the market is that it helps me to take care of friends like

00:33:20.240 --> 00:33:23.300
Danny Camozzo: I can host a dinner party and

00:33:23.429 --> 00:33:27.489
Danny Camozzo: just not have to be like, hey, can you guys all? Then mow me 10 bucks?

00:33:27.510 --> 00:33:37.659
Danny Camozzo: And that makes me feel good cause. For a long time. I totally couldn't do that, and I had to think about every little thing like

00:33:37.720 --> 00:33:40.960
Danny Camozzo: I was talking with my girlfriend that just this past weekend about.

00:33:41.110 --> 00:33:59.670
Danny Camozzo: We saw pumpkins out at like Trader Joe's or something, and we were talking about carving pumpkins, and I had this memory from years ago when I was with my ex, and we had bought pumpkins and then got into an argument about I thought that we were just gonna carve them using like kitchen knives, and she

00:34:00.340 --> 00:34:16.300
Danny Camozzo: didn't wanna carve them unless we bought the the carving kits. This, this the little special knives and those were like 20 bucks each, and I was like I, we already bought the pumpkins. I don't wanna also spend money on knives when we have knives. And we got an argument about about that. And

00:34:16.460 --> 00:34:31.980
Danny Camozzo: like, that's the little stuff that the money brings, that you know. You just don't have to deal with anymore. Like the petty stuff, the small stuff that doesn't actually.

00:34:32.690 --> 00:34:38.240
Colby Warshel: to me. Honestly, I feel like everything in our life is just purely cyclical, like.

00:34:38.320 --> 00:34:47.039
Colby Warshel: There's a reason why the mark the stock market cyclical. I think that our mindset is also cyclical, like there's totally like multiple months. I'll go through where it's like

00:34:47.360 --> 00:35:03.378
Colby Warshel: trading is the only thing I need to do. I'm focused 100 on this. If I don't make money today, I hate everything. If I don't, you know, like that's 3 months, and then 3 months go by where it's like I go to the market. And I'm like, I don't even give a shit about trading. I'm gonna make money through my every. I'm gonna do this and this and this and this, and it's like

00:35:03.809 --> 00:35:10.070
Colby Warshel: we go through these points where you, you, you have to sacrifice your happiness just so you can get shit done.

00:35:10.070 --> 00:35:35.010
Colby Warshel: But then, if you stay there too long, you, your performance suffers anyway, because you're you're relying on happiness for trading, and then, once your performance suffers for so long, you become desensitized to the result of trading. So then you go back and you're like, oh, I don't even get any happiness from trading at all. And then a year goes by, and then you start making way more money, and then you're like, Oh, wow! I never made this much money. I'm getting happy from trading again. It's just gonna keep happening forever and ever and ever, with bigger numbers

00:35:35.010 --> 00:35:45.338
Danny Camozzo: and smaller. You know what I mean. It's just like there was an Instagram reel or something that I saw just the other day. That was like exactly that it was about.

00:35:45.800 --> 00:35:56.860
Danny Camozzo: I forget exactly what he said, but it was like driven people are kind of unhappy, like 90, or feel like they're underperforming 90% of the time.

00:35:56.960 --> 00:36:20.179
Danny Camozzo: And then there's 8% of the time where you just feel like you're being kicked when you're down constantly. And then there's about 2% of the time where you feel like you're just nailing it. Especially, I'm like that is so accurate. And I'm I'm really working on trying to make that 2% feel a little more like 10 or 20 if I could.

00:36:20.769 --> 00:36:39.170
Danny Camozzo: But yeah, that's such a huge point. And I've I've kind of struggled with that for years. Basically, since I found profitability with trading, it's like, and especially this year, I've really struggled with that. This is by far my best year of trading yet.

00:36:39.329 --> 00:36:49.679
Danny Camozzo: but at the same time I'm seeing so clearly all the mistakes that I'm making, and like, what if I took a little bit more size, or like just kept working on that.

00:36:50.260 --> 00:37:06.920
Danny Camozzo: I know how much more potential there is, and also how much more potential. I feel like I can do, and it makes it harder to actually feel satisfied, even though I've blown away my best year yet, and we still have 3 months to go.

00:37:09.079 --> 00:37:10.909
Alexander Winkler: Yeah, that's awesome.

00:37:11.829 --> 00:37:17.960
Colby Warshel: Think I found that video you were talking about. Let me share it real quick. I don't. Can you share sound, too.

00:37:18.039 --> 00:37:29.028
Alexander Winkler: I'm pretty sure your computer sound will cause if we're trading. I always I always hear the trades being made, especially Toby, with this like thing through my headphones. I don't know if

00:37:30.179 --> 00:37:34.720
Alexander Winkler:  no, okay, I don't. We don't hear it. No fuck.

00:37:34.889 --> 00:37:36.309
Alexander Winkler: Can you

00:37:37.309 --> 00:37:39.400
Colby Warshel: let me think about this? Oh, wait, share sound.

00:37:39.860 --> 00:37:40.940
Alexander Winkler: Okay? Yeah.

00:37:41.750 --> 00:38:04.088
Tommy Salerno: Yeah. One that people have superiority complex. They believe they're better than others, and they believe that they deserve more than everyone else does, and that they can accomplish big goals. The second thing is that they have crippling security, and which which is a paradox of paradoxes. And then the third piece, which kind of adds the beautiful like mix of this is impulse control. And so they're able to control their actions and focus on a single thing for an extended period of time. You lay out.

00:38:05.059 --> 00:38:11.148
Danny Camozzo: yeah, some good mindset stuff.

00:38:11.309 --> 00:38:15.679
Danny Camozzo: That wasn't the video. But yeah, similar similar concept.

00:38:18.710 --> 00:38:23.769
Danny Camozzo: what do you guys feel about that first point. Like superiority complex.

00:38:26.530 --> 00:38:27.999
Colby Warshel: I think I mean.

00:38:30.599 --> 00:38:38.139
Colby Warshel: I don't know. It feels weird to even say that out loud because it's like, do I really think that I'm smarter than most people, and like.

00:38:38.210 --> 00:39:07.710
Colby Warshel: when I really deep down, think about it, II definitely do think that for sure, I definitely for sure see average people. And I'm like, not average people, just the average human being. And I'm like, did they know that we're like floating on a rock 17,000 miles an hour through space, and our galaxy is going 130,000 miles an hour through the fucking infinite universe. And it's like, did they know that like quantum entangled particles? Ca, travel faster than the speed of light? Do they know there's like 10 dimensions that we don't even see, and that we're not perceiving them at all. And it's like.

00:39:08.389 --> 00:39:20.708
Colby Warshel: and I'm like, I don't think they fucking know that I really don't. I don't think the average person's thinking of shit like that. And I'm like, does that make me better than them? Of course? Fuck! No, it doesn't. Doesn't mean anything at all. But in the moment it's hard for you to be like.

00:39:21.610 --> 00:39:38.769
Colby Warshel: why do I, sur seek out, like all of these weird like causal things about reality and just life and full full philosophy and psychology. Whenever most people don't really give a shit, or they're just kind of moving throughout their life, totally

00:39:38.940 --> 00:39:47.639
Colby Warshel:  on autopilot. But then I always go back to like if you, if you're a human being.

00:39:47.650 --> 00:40:17.309
Colby Warshel: there's I don't for me. Personally, I do not think that any of us are unique and special like. After saying all that this is where I end up at the end of that conversation with myself first I'm like, Oh, no one thinks about the universe. And then, at the end of that conversation I'm like, No, actually, you're not special at all. No one in the entire fucking world is unique. No one is special. We all are basically just a product of our environment. And if you like, II think some people be like. Oh, if you could take my soul out of my body and put it into Hitler's body.

00:40:17.309 --> 00:40:37.269
Colby Warshel: I wouldn't have been Hitler. I would have known. That was a terrible thing, not a fuck. You wouldn't cause whatever happened to Hitler, and his life made him Hitler. So it's like, I think that it's stupid for us as humans to be like. Oh, my soul would know that like I'm not, I wouldn't do something evil. No, we're all totally susceptible to do evil shit like.

00:40:37.280 --> 00:40:43.590
Colby Warshel: for sure, and we definitely do it just on a lesson scale now, because we're like a little more educated. But

00:40:44.010 --> 00:41:01.860
Colby Warshel: I don't know. You guys think about that like it's it's nice for me to think like, oh, I think of all these things that are special that I that people don't think of. But it's like, why do I think of that? It's because my fucking mom is extremely a spiritual person. She loves thinking about space and time and all this shit. And my dad's a businessman. So it's like

00:41:02.250 --> 00:41:17.659
Colby Warshel: the only reason I like thinking of business and being an entrepreneur is because I have my dad. And the only reason I like thinking about space and philosophy and psychology because I have my mom. If I didn't have either of those 2 things, I could easily have been just a completely different fucking person that didn't give a shit about those those things at all. So

00:41:17.929 --> 00:41:45.579
Alexander Winkler: yeah, you're definitely a product of your environment to to a large extent, like I was on Netflix, I was watching like the most dangerous prisons. For some weird reason. I just wanted to watch like an episode. Yeah. Oh, my God! Oh, dude, I'm not crazy about like history videos on yeah, it's just so good, anyway. I was watching this, and like they were interviewing somebody that was in there, some prison guy. He was just like someone a bunch of money, and he was like.

00:41:45.659 --> 00:42:12.309
Alexander Winkler: yes, I went to his house and killed him, and and they were like everyone was so shocked. And you know I was thinking about that, I was like, and you know, like product of your environment. So I've had twice now 2 people steal from me like sums over $30,000, and you know, at the moment I was like I was very pissed off. Like to the point where, if that person was next to me, think we'll just say thankfully they weren't right. But

00:42:12.639 --> 00:42:15.099
Alexander Winkler: and if I compare myself to that person

00:42:15.280 --> 00:42:32.228
Alexander Winkler: I He had a really hard childhood. They were kind of going through his background and everything. He was very susceptible he was. He grew up in violence to like execute that violence. I didn't really have that kind of upbringing like he did. I very was a fair and like

00:42:32.530 --> 00:42:45.579
Alexander Winkler: passive parents when it comes to violence, like they didn't really believe in violence. I didn't grow up in that environment. I mean, I boxed for 5 years, and II like I you know, I enjoy like a good strategic fight. But at the same point, like.

00:42:45.929 --> 00:43:03.749
Alexander Winkler: I'm not in that environment where I'm going to go to that person's house and commit murder, because, like I like, I didn't grow up in that environment that teaches that kind of violence. So like, yeah, maybe there'd be a dispute. Or you know, I tried to go the legal route. I'm not because the the downside, when I view that kind of action, the downside is much greater than any sort of

00:43:03.920 --> 00:43:09.938
Alexander Winkler: positive feeling of revenge. Right? So I just kind of let it go. You know it is what it is. It's it.

00:43:10.369 --> 00:43:12.579
Alexander Winkler: I can't get it back, and it's

00:43:12.679 --> 00:43:16.099
Tommy Salerno: if I'm trying to get even kind of philosophy. Right?

00:43:17.610 --> 00:43:23.179
Alexander Winkler: But yeah, like, I guess to come full circle like you're definitely a product of your environment. If I was

00:43:23.349 --> 00:43:26.048
Alexander Winkler: an abusive family, and I knew that

00:43:27.230 --> 00:43:49.199
Alexander Winkler: way, you know, you know, and like you grew up under violence. You're maybe Dad was a like a white beater or something, you know like, if if that's your childhood, you're much more likely to commit those crimes. Do you think our do you think our history, when in childhood influenced us to become or chase trading as a career path

00:43:49.210 --> 00:44:08.708
Alexander Winkler: trading. But like, pretend, like whatever walks across your path, like trading was just one of those things that happened to be there at a certain point of our lives that made it, and we were really interested. I think it could have probably been anything. I don't think it's trading specifically but yeah, like, we might be

00:44:09.570 --> 00:44:16.869
Alexander Winkler: very inclined to become kind of take this high risk, because we're maybe looking for some sort of

00:44:17.070 --> 00:44:28.989
Alexander Winkler: maybe comes back to the superior superiority complex. I don't know. Like, does everyone have a superiority complex, but about different issues. Cause that's that's interesting to think about. Like I know, growing up myself, I

00:44:29.199 --> 00:44:52.358
Alexander Winkler: you know, like, if if we were doing track or something like that. I would pretty much like be 100% confident I was going to be the fastest, and I didn't even know how fast anyone else ran. I just assumed I was going to be the best, and that sounds like a really cocky thing to say, but I don't know if that comes from a superiority complex. Or just because maybe I've already done 10 races in the other schools, and I've always won. So I don't know if it's a little bit of like

00:44:52.539 --> 00:45:14.860
Alexander Winkler: I don't. I really don't know like, can you earn a superiority complex because like to be honest like, if you're fucking the best in the world, then. Yes, you are superior period. Yeah, if I don't know if you're a chick, and you're very good looking, and everyone treats you a certain way. At 1 point you learn like what you can get away with, maybe, or if you're

00:45:15.159 --> 00:45:22.999
Tommy Salerno: some sense, it can work for you, but also against it, because if you believe that, then

00:45:23.039 --> 00:45:52.019
Tommy Salerno: it's actually like, what we saw on the video is like, it also comes with that insecurity because you're always trying to prop that up. And if there's anything that falsifies that, or any sort of inkling that that's not true, that you're not the best, and you have such a negative emotional feeling about that. So training and training will be tough, too, because that probably explains why we feel so bad to the more to the downside. Then we feel good to the upside because of those beliefs that we have.

00:45:53.909 --> 00:45:56.068
Danny Camozzo: I think that

00:45:57.500 --> 00:46:02.670
Danny Camozzo: with high performing people there is always.

00:46:02.869 --> 00:46:07.030
Danny Camozzo: almost always another issue that comes along with it.

00:46:07.559 --> 00:46:18.059
Danny Camozzo: Like, think about Michael Phelps, Michael Jordan, Lebron, James, Like any of the smartest people in the world who are doing the most.

00:46:18.110 --> 00:46:22.650
Danny Camozzo: They all have issues like Steve Jobs, Elon musk.

00:46:23.139 --> 00:46:26.130
Danny Camozzo: there's always other issues going on.

00:46:26.550 --> 00:46:37.119
Danny Camozzo: There is that drive. But usually they have so much energy, physically or mentally, that it needs to manifest an outlet somewhere.

00:46:37.179 --> 00:46:40.599
Danny Camozzo: And sometimes that's productive. And

00:46:40.750 --> 00:46:50.079
Danny Camozzo: other times it comes out in not productive ways. I think that I think that that's probably part of it. But

00:46:50.539 --> 00:47:02.369
Tommy Salerno: yeah, I think that makes sense, your biggest kind of your biggest insecurities. What drives you to become the most successful in that certain domain?

00:47:02.750 --> 00:47:17.219
Tommy Salerno: I think that completely makes sense. Otherwise, if you weren't insecure about it, you wouldn't be working so hard to compensate for it, and you wouldn't be at that level that you would be at, because you wouldn't need to put that much intensity in it to become successful at it.

00:47:17.360 --> 00:47:19.778
Danny Camozzo: That makes sense. Yeah, something like that.

00:47:19.960 --> 00:47:20.789
Tommy Salerno: Yeah.

00:47:21.780 --> 00:47:34.119
Alexander Winkler: I was. I think I don't know if it was from the David Goggins, book or not. But usually someone. Someone said this somewhere. It might have been David Goggins, but he was like, Show me someone who's doing something really crazy

00:47:34.320 --> 00:47:39.438
Alexander Winkler: like, you know, Michael Phelps or Steve Jobs, or and I'll show you

00:47:39.670 --> 00:48:02.918
Alexander Winkler: the lowest point of like an extreme low point that they had, you know. Like, if you're gonna go that far, you're gonna you've probably had an insane low. And you're basically running away from ever being there again. So if you're very poor. Your parents can afford anything. You're gonna make sure you're the richest person in the world still never have to experience that again. So on so forth. There's a

00:48:03.070 --> 00:48:25.010
Alexander Winkler: really good experiment where they were using a mouse, and they tied its tail to like a I don't know, just like a measurement device, and it wasn't a tube, and they put like some cheese on one side of the tube, and it was like, How how much does the mouse want to go towards the cheese, and they measured that that kind of pressure, cause you know, it wanted to cheese right. But how how much is willing to pull.

00:48:25.349 --> 00:48:33.380
Alexander Winkler: and then they did the same thing where they put like a cat on the other side of the tube. So how how much is the the mouse trying to run away from the cat.

00:48:33.420 --> 00:48:43.090
Alexander Winkler: and the fear was a much bigger driver. And how much that animal, so the mouse was willing to push, so fear is a bigger driver than desire

00:48:43.280 --> 00:48:48.739
Danny Camozzo: that's literally survival instincts

00:48:48.860 --> 00:49:15.239
Danny Camozzo: was like, if I go towards the cat, I definitely die. If I don't go towards the cheese. I'll maybe be hungry, but I'll probably find food again at some point. Yeah. And there's who knows? Maybe there's risk with the cheese, anyways. So I'm not gonna push it so hard, you know, to to take this to to branch off for this. You could say that. Yeah, not to remind yourself not to compare yourself from. You know one thing to one thing, and everybody has their own

00:49:15.400 --> 00:49:31.818
Tommy Salerno: departments in their life that they're the weakest at, and you're stronger, or that they're stronger than you and some areas. And you're not, or you have. You're more developed in some areas. And then they're not. So, you know, if you're gonna compare someone, especially in trading, if you're gonna compare yourself to someone, you have to also compare

00:49:32.210 --> 00:49:42.809
Tommy Salerno: the other aspects of your life with their life as well to make it a wholesome comparison. Otherwise you're just beating yourself up. And it just it wouldn't be

00:49:42.980 --> 00:49:46.090
Tommy Salerno: psychologically, I guess. Fair Hannah, way.

00:49:46.320 --> 00:49:47.070
Danny Camozzo: Yeah

00:49:47.519 --> 00:50:11.829
Alexander Winkler: 100. It's so hard to compare yourself to others. It's almost worthless to do. But like what I think. One thing I've realized over the last few years specifically, is like, I have my strengths, but I definitely have my weaknesses, I know, like that's always what we, you know. Talk about strengths and weaknesses, especially like in any self help book. But over, I feel like it takes a while to actually understand what your strengths and weaknesses are, and like to be really aware

00:50:11.970 --> 00:50:19.840
Alexander Winkler: of that, like, you know, just just like 5, 6 years ago, like, I would have been very

00:50:19.980 --> 00:50:39.298
Alexander Winkler: kinda like, like, Oh, yeah, so entrepreneur, let me start this project. Let me start this project. I can take it all on. I'll do this. But II didn't really think like maybe 5 steps ahead or however many steps ahead, thinking, Okay, well, I'm really good at Xyz. But I suck at these other things. Let me, just.

00:50:39.630 --> 00:50:58.298
Alexander Winkler: you know, find a team member or kind of outsource that, or something like that. I used to just be like, oh, I'll figure it out. It can't be that hard. Someone else can do it. I can do it, too. Sure I can. I can probably deliver that. But it's gonna take me a lot more time than someone else who like I don't know. Let's say marketing, or something that comes really natural to them. Well, for me.

00:50:58.389 --> 00:51:09.880
Alexander Winkler: like marketing or like making a certain video is like, really, it's not something I do when I'm bored, like my brother, for example, he makes amazing videos. He always has. He's always wanted to film stuff ever since we were kids.

00:51:09.900 --> 00:51:11.559
Alexander Winkler: Not once did like

00:51:11.599 --> 00:51:26.659
Alexander Winkler: me filling something was ever like my default. I was never interested in that. So it's a big kind of show that, like we tend to lean in certain ways. So if you lean into your default, mode your strengths. You can go much further, and you just everything or team up with somebody else.

00:51:26.679 --> 00:51:31.159
Alexander Winkler: Everything you're like below a 6 at, because it's a waste of time for you to do.

00:51:31.409 --> 00:51:32.179
Danny Camozzo: Yeah.

00:51:32.500 --> 00:51:38.708
Colby Warshel: that's so hard to do. Like, how do you? Even? It is hard to do. Yeah, exactly. Because even

00:51:39.740 --> 00:51:41.800
Colby Warshel: like, let's say you're good at something

00:51:41.949 --> 00:51:48.889
Colby Warshel: like you think you're good at something like let's say III was decent at fucking math and stupid shit like that I should be a decent trader right?

00:51:49.050 --> 00:51:55.980
Colby Warshel: Like I should. Right. I'm not stupid like I mean, but I can't straight. II don't make any money. So it's like.

00:51:56.820 --> 00:51:57.750
Colby Warshel: And then

00:51:58.389 --> 00:52:10.789
Colby Warshel: there's also, like the lore of obviously trading is much the easiest. It's the hardest easy money in the world, right? And then this easy job? Yeah. And then so like my, my little cabin, right?

00:52:11.690 --> 00:52:27.500
Colby Warshel: That has taught me so much shit about just the like life and stuff like that because it's like I didn't wanna do that at all. I literally only did that cabin just so I could supply income because I knew I was gonna take a long time to become profitable trading. That's the only reason I did it.

00:52:27.510 --> 00:52:34.960
Colby Warshel: And then, within literally a month, I make more money that than I do from all trading. Obviously I still need to make $10,000 for on break even. But whatever

00:52:35.130 --> 00:52:36.380
Colby Warshel: and then it's like

00:52:36.880 --> 00:52:42.780
Colby Warshel: now later, now that I did that. And I'm like, Oh, that's pretty cool. I want to do more of that.

00:52:42.809 --> 00:52:47.219
Colby Warshel: even though I did it just to make trading easier. So it's like

00:52:47.820 --> 00:53:04.309
Colby Warshel: you'd think I'd be good at trading. I'm not. And I tried to do a cabin. I have no fucking idea if I'm gonna be good at that or not. I built like a fucking tree house when I when I was like 10, like, Okay, yeah, that's like that's not gonna make me good at doing something I did. It was better, and I get rewarded for it, which is the whole point of what I'm trying to make is.

00:53:04.900 --> 00:53:16.009
Colby Warshel: if you do something you think you're good at, but you don't get rewarded for it. You eventually stop liking it, because that reward is so important, like trading even for me. Now

00:53:16.349 --> 00:53:30.989
Colby Warshel: my whole approach to trading is just completely erase all of the noise, and if it doesn't work, then sorry, Buddy, you're not a fucking trainer. So it's like, I'm not. Gonna go sit here every day anymore for 8 h, watching every youtuber, every fucking information I can get all this

00:53:30.990 --> 00:53:55.809
Colby Warshel: sensory overload. I did that for so long, and I got no reward for it. Then I'm not gonna do that anymore. And until I get rewarded for the money I make from trading. I'm probably never gonna do that again. So like, that's why I always say now that I think it's better if you kinda just like, don't even listen to any trader, and you just lock yourself in a dark room, and you're like I'm gonna figure out what works for me in the market by myself. I'll use every fucking indicator possible until I find wh. The whatever I like that works.

00:53:55.809 --> 00:54:00.298
Colby Warshel: and then, if you just do it that way. Then it'll probably be a lot better, but

00:54:00.650 --> 00:54:10.949
Alexander Winkler: it's hard to do something and not get rewarded for it for a very long time. That shit is tough. You become resentful towards it. Deal you there.

00:54:10.980 --> 00:54:14.740
Danny Camozzo: It's like, why, why am I bothering? Yeah, that's for sure.

00:54:14.789 --> 00:54:19.818
Danny Camozzo: especially when you could just get a job and just like, have a paycheck immediately. Yup.

00:54:19.820 --> 00:54:44.250
Alexander Winkler: yeah, jobs always have such a bad rep. But II don't view jobs actually, as a bad thing like II know a few people that like juggle some freelance gigs, or they have, like, you know, Job, plus some freelancing where they just have a job, and they live their life, and they just have so much free time. I almost envy that. And then they it's like, Oh, they have a job, and they have so much free time. It's so backwards, specifically in Europe. Like, mind you, I'm on America right now, and America is a whole different cookie.

00:54:44.250 --> 00:54:52.490
Alexander Winkler: Like I was. I was. Yeah, I was talking to my friend, and she owes she owns this really

00:54:52.490 --> 00:54:57.519
Alexander Winkler: massive company. It's like one of the fastest growing companies now in Europe. She even met Merkel and

00:54:57.579 --> 00:55:11.188
Alexander Winkler: XYZ. It's a long story. But she she some of her employees were complaining. They're like, Oh, you only give like 28 days vacation. And like like I was, I was like, who are these people complaining about that?

00:55:11.199 --> 00:55:33.269
Alexander Winkler: Mind you, they also get like a month or month and a half of remote days, and then sick days is like another unlimited, basically. And then like paid sick days, and then there's also like the amount of holidays in Germany is insane. You think America has like, like, you know, American holidays you got. I don't know how many there are. But in Germany it's like times do everything. So it's

00:55:33.269 --> 00:55:47.128
Alexander Winkler: I mean, these. These people literally could take 4 months off of work and get paid for it, and, like, you know, have no problems. It's it's insane. So I was just like, Wow, you know. And and then, if you like. Let's say you invest all like most of your earnings.

00:55:47.280 --> 00:55:54.460
Alexander Winkler: You could probably become a million or just investing in the spy pretty easily, I would say nowadays I mean

00:55:54.599 --> 00:56:06.780
Alexander Winkler: it's it's crazy, I mean, if II just did like, you know, back of the knack and calculations. And I'm like man. These people are living pretty good life. Obviously. you know, there's so much more advantages you could have out of trading once you get over that bump.

00:56:07.130 --> 00:56:29.079
Colby Warshel: But yeah. Yeah. Like, Tom, I totally agree. Like, if anyone is listening to this shit, just realize that is absolutely only a European thing. My parents went to Ecuador to like, do fucking ayahuasca. And they all these people were there. And they met all these European people.

00:56:29.079 --> 00:56:39.469
Colby Warshel: Yeah, every fucking guy, every person was like, Oh, yeah, I'm just in. I'm just here for 2 months, and they're like, What are you doing like? Oh, I just work for Bmw. In Europe, or whatever just. And they're like.

00:56:39.639 --> 00:56:42.639
Colby Warshel: Well, how are you here for 2 months? And they're like, Hey, pay me?

00:56:42.720 --> 00:57:09.568
Alexander Winkler: Employees feel like they don't have enough me time or something. I'm like.

00:57:09.570 --> 00:57:25.110
Alexander Winkler: Yo, this is crazy. That's why I always say, if you're just like an average good life, move to Europe. But if you wanna go like, do something crazy like Elon Musk. You have to go to America because you can't do those things in Europe. This is, it's impossible to start spacex in Europe.

00:57:25.110 --> 00:57:37.920
Alexander Winkler: So it's like, Yeah, you can't get fired. Oh, my God, Google Google started a branch in France. I think it was Google. And they needed to close it down. I think it was in Paris specifically.

00:57:38.070 --> 00:58:03.530
Alexander Winkler: and then they were like holy shit. We can't fire like the 150 employees we hired. And I was laughing so much about this because I had the same problem. I had a company in Bulgaria we had around, I think, like 9 employees at the at the height of this. And first, the holidays were killing me. At 1 point nobody was in the office, but it was like, Okay, because it was like a you. It was like a Bulgarian holiday like these 2 days. And then everyone takes the bridge days off. So it was just like

00:58:03.829 --> 00:58:12.298
Alexander Winkler: A August. It was August. It was just like that, not not month. You could just delete it. And then, like what was what was my point here? Yeah, then

00:58:12.570 --> 00:58:42.088
Alexander Winkler: I don't. I don't know. It's just getting. It was so frustrating dealing with. Yeah, I couldn't fire him so we couldn't close the company for like 6 months, because, you just can't. You like, I was like, Okay, well, our cash flows are kind of negative. Is this branch? We wanna close it. And it was just like, Nope, like 6 months you have to at least keep everything going. And I was kinda thinking to myself, I was like, What if you don't have money like this is terrifying. So it's just like, yeah, Europe. You have to do things very slowly, because you can make many mistakes that you can't get out of. Well, in America, it's like.

00:58:42.090 --> 00:58:47.460
Alexander Winkler: you know, move fast, break things. Fire. People doesn't matter very different philosophies.

00:58:47.760 --> 00:58:54.130
Colby Warshel: It's almost like an entrepreneurship culture compared to like a an employee culture cause like.

00:58:54.220 --> 00:59:10.050
Colby Warshel: you know, if you have to fucking, if you have to wait 6 months and your company's going bankrupt. What the fuck does that mean? You have to continue payroll for 6 fucking months like, I gotta pay these people $100,000, and they don't. I don't have a company anymore for the next like, that's crazy.

00:59:10.050 --> 00:59:24.929
Alexander Winkler: Yeah, it's scary. It's scary. That's why I was like, you know, if you start a company in the foreign country just like you, you understand, like, there's stuff that you don't know what's gonna happen? Yeah. In Europe. In general, it's it's all about the system and America. It's about the individual. I would say.

00:59:24.929 --> 00:59:27.909
Alexander Winkler: oh, look at that cart. IP Oed anyone trading that?

00:59:28.300 --> 00:59:32.809
Danny Camozzo: Yeah, change the topics.

00:59:38.510 --> 00:59:43.398
Tommy Salerno: share my screen quickly. Just so everyone can see it. Yeah, yeah, I was just gonna pull it up.

00:59:46.150 --> 00:59:50.349
Alexander Winkler: Oh, yeah. Well, if you want to poof! It's also fun. No, no, no.

00:59:50.940 --> 00:59:54.280
Danny Camozzo: Another garbage. American. Ipo. No surprise.

00:59:54.579 --> 00:59:59.338
Alexander Winkler: Yeah, it's probably way over. Subscribe. I didn't look into it so much and see what the market cap is.

00:59:59.610 --> 01:00:03.458
Danny Camozzo: Let's watch it fly through 39 here to the downside.

01:00:03.490 --> 01:00:05.019
Colby Warshel: Wait! What is this company?

01:00:05.119 --> 01:00:06.309
Danny Camozzo: Instacart.

01:00:06.789 --> 01:00:14.550
Alexander Winkler: 11 billion dollar company at the moment delivered to your house right away, like

01:00:16.119 --> 01:00:20.409
Danny Camozzo: it's kind of like Uber go 38. Ridiculous.

01:00:20.760 --> 01:00:22.249
Tommy Salerno: can you? Short or no?

01:00:22.369 --> 01:00:31.460
Danny Camozzo: No, unfortunately I tried. I lost 500 on it going long, but I can't go short.

01:00:31.610 --> 01:00:41.289
Alexander Winkler: This might bottom out at at 1 point, and then have a nice. Well, at 1 point it will bottom out right in theory. I'm talking about intraday. Maybe it's gonna have a

01:00:42.329 --> 01:00:46.630
Alexander Winkler: I don't know. Yeah, maybe I'll have one pop to the upside and then maybe fade.

01:00:46.780 --> 01:00:53.849
Alexander Winkler: cause everyone is loading up short here. There. They just gotta be at some point where they get squeezed out.

01:00:53.880 --> 01:00:56.019
Danny Camozzo: Yeah, you would think.

01:00:57.349 --> 01:01:00.220
Danny Camozzo: I guess, yeah.

01:01:01.519 --> 01:01:04.860
Colby Warshel: 30%. How does that?

01:01:06.079 --> 01:01:15.289
Alexander Winkler: Yeah, that's you know what? It's probably cause their ideal price was initially going to be like 32, I think 32 or 30.

01:01:15.389 --> 01:01:22.000
Alexander Winkler: Yeah. And then they finally actually opened at 30 or 42. Roughly. So

01:01:22.269 --> 01:01:28.259
Alexander Winkler: it like, it's over. Subscribe. So many people want it, and they just keep bumping it up, whatever it's about to Ipo add, which is.

01:01:28.530 --> 01:01:29.970
Danny Camozzo: appreciate you. But

01:01:30.679 --> 01:01:58.309
Colby Warshel: and that would suck to just run a company for so many years. And then you decide the Ipo and you're doing it in this fucking environment. Oh, man, imagine the people who are like Ipo in 2021 or 2020. And they're like, Whoa, dude. I sold that shit the second and Ipo 10,000. Yeah, that was the time to do it. You know, that was everyone had to cut basically multiples, cut their valuation. They had to do a down round of financing. It's it's pretty brutal

01:01:58.510 --> 01:02:07.128
Alexander Winkler: it definitely messes up your cap models, but it's probably a good thing. I mean, everything was so overvalued it was insane. I mean.

01:02:07.449 --> 01:02:10.670
Alexander Winkler: everything's come down drastically except

01:02:10.860 --> 01:02:23.320
Tommy Salerno: yeah. I'm surprised. I looked at game. Stop the other day. I was like, still around. Well, they did. There's there. Did their split their stock split, and they're still at $17.

01:02:23.470 --> 01:02:30.608
Tommy Salerno: Surprise cause a Amc. Is like completely way down now. But

01:02:30.809 --> 01:02:33.440
Danny Camozzo: you guys seen the trailers for dumb money?

01:02:34.320 --> 01:02:44.670
Danny Camozzo: No. Oh, is that the new Netflix one about game? Stop right is it Netflix? Or is it an actual movie? I don't know. It is about game. Stop, though. Yeah.

01:02:44.880 --> 01:02:56.789
Danny Camozzo: I think it's like a Netflix series. I think I saw it like a documentary series. Docuseries. I'm not sure what it is, I saw a trailer for it at the actual movies the other day. But yeah.

01:02:59.360 --> 01:03:04.188
Danny Camozzo: yeah, I'm pretty interested in that, and especially how they portray both sides.

01:03:04.429 --> 01:03:08.028
Colby Warshel: Yeah, I can't wait to see how they do the Ken Griffin stuff. That'll be interesting.

01:03:08.320 --> 01:03:15.159
Alexander Winkler: Yeah, maybe it is a movie. Maybe it's both because there's definitely something on Netflix about

01:03:15.590 --> 01:03:20.229
Alexander Winkler: about game stop. And it's like a Mini Mini series.

01:03:21.039 --> 01:03:25.448
Colby Warshel: Yeah, I think that's a different thing. That's totally different. Yeah, dumb money is a movie. I think.

01:03:26.590 --> 01:03:32.420
Alexander Winkler: yeah, dumbony movie. It's literally has a hashtag. Okay, there we go.

01:03:33.100 --> 01:03:36.210
Danny Camozzo: Got to the bottom of it. What does it come out

01:03:36.319 --> 01:03:42.489
Danny Camozzo: September 20 s. Oh, I definitely want to watch that next week. Movie theaters, sweet.

01:03:42.560 --> 01:03:57.140
Alexander Winkler: Oh, it's like an actual movie. It's on Netflix Thing. No, there is something on Netflix about game. Stop! I was literally about to click on it yesterday. The trailer on Netflix. But this is dumb. Money is also is something different. And some movie that comes out on September 20 s.

01:03:57.720 --> 01:04:02.470
Colby Warshel: I hope it's really fucking good. I need another movie to binge. I'm too sick of fucking

01:04:02.539 --> 01:04:10.140
Colby Warshel: the big, short and boiler room and the Wolf Wall Street holy shit

01:04:10.510 --> 01:04:11.380
Alexander Winkler: bunch up!

01:04:15.420 --> 01:04:20.229
Alexander Winkler: Yeah, I feel you there. So what's everyone's game plan going forward this week. Anything

01:04:20.710 --> 01:04:24.498
Alexander Winkler: new, different. I think we're all a little traumatized.

01:04:25.039 --> 01:04:32.639
Danny Camozzo: Just keep it tight. One of the things I've really been trying to focus on lately is like 3 strikes, and I'm out

01:04:33.230 --> 01:04:37.239
Danny Camozzo: which usually means like, at least take a pause.

01:04:37.819 --> 01:04:41.819
Just trying to be very mindful and conscious of the trades I'm taking.

01:04:42.210 --> 01:04:45.630
Danny Camozzo: It's worked for me the last couple of days or so.

01:04:46.550 --> 01:04:52.838
Danny Camozzo:  yeah, that's pretty much it. Just trying to be real careful and conscious. Try to take good trades.

01:04:53.529 --> 01:05:18.069
Alexander Winkler: Yeah, I'll add to that by saying, I mean, I agree totally the exact same thing here. And for me, I'm trying to implement that through reducing my market exposure typically trade market. So you know, at 7 30, for still nothing moving, I close it. And then I just come back 1050 min before the market open refresh, ready to go. Because if I stare at those charts for 2 2 HI know I'm gonna do something silly, and that's what I've been doing lately. So

01:05:18.550 --> 01:05:19.340

01:05:20.760 --> 01:05:21.829
Colby Warshel: good, Samsung.

01:05:21.850 --> 01:05:23.909
Tommy Salerno: Yeah, I guess for me.

01:05:24.619 --> 01:05:39.338
Tommy Salerno: kind of same thing that I've I've been doing just trying to stay consistent. So this month I've only had one red day so far, but consistent, consistently green. So I just want to keep that up, and when the market does turn around, go back into

01:05:39.489 --> 01:05:53.170
Tommy Salerno: my goal. That I had set last month was which was trying to have all of my trades. Well, not all of my trades, my a plus setups trades that lead to be at least $10,000 or higher in in

01:05:53.439 --> 01:06:16.649
Tommy Salerno: dollar size, and I've been tracking those in Trade Journal with the tag. $10,000 and just tracking the metrics with that size so I can see with my own 2 eyes my accuracy, my risk reward, how I'm handling emotionally with taking a loss on that side on that size, and if I'm green on those sizes, then I should be

01:06:16.710 --> 01:06:20.359
Tommy Salerno: it. It should build my comfort. It should build my confidence to

01:06:20.659 --> 01:06:28.329
Tommy Salerno: make that more of a common thing, even in a colder market. So that's what I'm gonna be working on. When things start to turn around a little bit.

01:06:29.090 --> 01:06:31.869
Colby Warshel: That's awesome. That's really cool. I like the idea

01:06:32.029 --> 01:06:36.260
Colby Warshel: categorizing them. So you can actually see, like with your own eyes the

01:06:36.670 --> 01:06:56.418
Colby Warshel: efficacy of using exponential sizing. That's that's really cool for me rain hike tomorrow. I didn't trade it all day, because I looked through all my stats, and every single time I ever trade before, like a high news event. It's always just terrible trading. I lose money every time. So I just completely didn't. Even I mean, I watched the market today. But I saw one trade. I was like that.

01:06:56.560 --> 01:07:01.899
Colby Warshel: and then it fucking flush right through it, and I was like, yep, that's why you don't trade the day before. Fomc, but

01:07:02.829 --> 01:07:06.288
Colby Warshel: yeah, just I traded once yesterday, and

01:07:06.850 --> 01:07:07.739
Colby Warshel: that's it.

01:07:09.899 --> 01:07:10.689
Tommy Salerno: Nice.

01:07:11.350 --> 01:07:24.000
Alexander Winkler: Also. Thanks, Tom, for managing the social media. If you guys see the shorts on Tiktok. Now, the ones from Youtube they are. They're on tik tok. Thanks, Tom, for managing that. Yeah, no problem.

01:07:24.489 --> 01:07:40.300
Tommy Salerno: Tom, are you talking about that one you you told me about is that on Youtube, or it's on Youtube. Short says, what 5? Right now? 1,000. 5,000. I think that's our biggest. I think that I think that's our best performing short so far. So

01:07:41.159 --> 01:07:45.489
Colby Warshel: that's funny. Nice, which one is it? I gotta look that one up. I gotta I think it's

01:07:45.989 --> 01:07:48.579
Tommy Salerno: Let's see here.

01:07:48.659 --> 01:07:53.939
Alexander Winkler: I could post it in the link below this video. I'll find it. II can pull it up. Let me pull it up.

01:07:54.920 --> 01:07:56.989
Colby Warshel: Must be an older one. I'm scrolling.

01:07:57.689 --> 01:08:04.020
Alexander Winkler: Just go to most popular. Oh, shit! You're right. Yeah.

01:08:04.369 --> 01:08:08.868
Alexander Winkler: I love it. It's so good. The sprain prey method

01:08:09.859 --> 01:08:12.658
Colby Warshel: I was finding your own path in the market.

01:08:16.029 --> 01:08:18.219
Alexander Winkler: Who's who's speaking on that one?

01:08:18.939 --> 01:08:20.050
Colby Warshel: That's Colby

01:08:20.159 --> 01:08:22.000
Tommy Salerno: the Fans love Colby?

01:08:23.560 --> 01:08:33.458
Alexander Winkler: Did I fucking. I tell them the truth, baby, this shit fucking sucks.

01:08:33.710 --> 01:08:38.779
Colby Warshel: Do you want to play? Do you want to play it? I'll play it

01:08:41.020 --> 01:08:41.739
Danny Camozzo: funny

01:08:42.180 --> 01:08:45.449
act that I stand by the fact that if you literally just

01:08:45.480 --> 01:09:04.429
Colby Warshel: put yourself in a black room and it was just locked in there for 3 years, you would absolutely be a million times better than if you could see how everyone else trades and hear all these cliches. Trend. Is your friend. Stand by the fact that so dumb short I ever saw a lot of fucker people watching that.

01:09:04.430 --> 01:09:16.099
Tommy Salerno: Yeah, just not looking at other people's trading. Just kind of focusing on yourself.

01:09:16.270 --> 01:09:17.579
Danny Camozzo: Yeah, but

01:09:17.869 --> 01:09:19.078
Alexander Winkler: so important

01:09:19.810 --> 01:09:20.920
Danny Camozzo: importance.

01:09:21.050 --> 01:09:27.319
Danny Camozzo: comparison is only useful to a certain point. I feel like, I think that

01:09:27.770 --> 01:09:39.819
Danny Camozzo: it's definitely helpful and useful to look at people who are ahead of you, or doing things differently than you, or better than you, or where you want to be and kind of think about why they're at that point, and what they're doing.

01:09:40.109 --> 01:09:43.578
Danny Camozzo: But as far as like actually comparing yourself to them.

01:09:43.699 --> 01:10:08.559
Tommy Salerno: I think that's when, like the benefits and helpfulness stop like, Oh, he's a he's up 1,000 a day. I'm up 100 on the day on Terrible. I should be up way more than that, or yeah, or whatever. That's just 10 times your size. And he's in a 1,000 hole on the month. So

01:10:08.560 --> 01:10:27.698
Alexander Winkler: yeah, you gotta reverse engineer it. I actually like when I it gave me a lot of confidence. Sometimes when I like reverse engineers, Rick, Rick Ross Cameron, because I'd be like, wait a second, we basically had, like the same percent day he just used, like, you know, 200 on that trade. And like, that's why he made, you know, 20 K.

01:10:27.850 --> 01:10:36.878
Alexander Winkler: And I was like, Wow, I literally just need to size up. But like my stats are looking good now. He talks about that all the time, too. He made a video.

01:10:37.279 --> 01:10:42.798
Danny Camozzo: God, it might have been last year he was maybe last spring.

01:10:42.980 --> 01:11:03.969
Danny Camozzo: That's why it seems kind of close. He was making maple syrup and talking about how the process of like industrial maple syrup making, and that he wanted to emulate what they were doing just on a smaller scale and relating it to trading. He is the king of Analogies.

01:11:04.130 --> 01:11:17.279
Danny Camozzo: yeah, he has a lot of videos about that. But I mean, it's the same idea. Look at someone who is successful, or doing whatever you want to be doing successfully and figure out what little parts of what they're doing. Can you start doing, too?

01:11:18.230 --> 01:11:19.050
Tommy Salerno: Yeah.

01:11:19.659 --> 01:11:22.350
Colby Warshel: yeah. If you don't like readjust the scale.

01:11:22.689 --> 01:11:43.310
Colby Warshel: it's totally pointless to compare, like, what's almost saying, if you're like, Oh, 200. Okay, who's who's cooler? I mean, obviously, the guy gets 200. But like, why do I suck so much? Well, like a million dollars that they're trading with, and you have about 10,000. So we're just like going into their past, like, if you go to Ross's first videos, where he's making 2 K, and you're like.

01:11:43.310 --> 01:11:52.939
Colby Warshel: yeah, the same trades, you know. Nice making. Yeah, yeah, there are so many videos way back of him, making like a hundred day and being super happy about it.

01:11:53.579 --> 01:12:02.969
Alexander Winkler: Yeah, he's got a great channel to go back on. II do that sometimes. It's it's an amazing rep repertoire videos.

01:12:03.149 --> 01:12:21.670
Colby Warshel: Yeah, I have like 10 Youtube videos, or just like in my all time, best like mad as money making like 1.2 million. This dude that I follow made like 2 million and trade. You know, the Ross videos like, Oh, man! When I get sick of the Big Short, the Wolf Wall Street in the boiler room. Those are what I'm going to

01:12:21.810 --> 01:12:26.949
Colby Warshel: one day. Film coming soon. The inside of trading podcast

01:12:27.399 --> 01:12:30.789
Alexander Winkler: alright guys. We probably have to call here before it gets too long.

01:12:31.119 --> 01:12:47.480
Danny Camozzo: Cool sounds good.