Exit Plans, Discipline and Risk Management Scan for June 28th!

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[@bto9273]

2:20- "You go up from being up nicely, to down quickly or even flat quickly and then you're faced w/ the decision that brings up most weaknesses and that's the tough part for a lot of traders." Thank You. Too many takeaways. Love these videos.

[@ttolsontrader]

9:40 - How to learn to be patient and let a trade work: "Go through the motions. Hold just 100 shares and get your brain in the mode of...I'm gonna be patient with this trade. Then slowly build that to 1/4 or half." That's great advice, IMO. Thanks, Nate.

[@tenmike]

Thanks Nate. I look forward to Sunday Scan every week

[@jonathanlake8595]

Key takeaway 17:10 'If you are uncomfortable in a trade, get out'. Thank you for repeating the fundamentals. I remember this advice from a previous video and follow it when I'm in a trade.

[@jaevemilesyap7482]

18:28 "You've worked hard to build that account, to see the trend go up slowly and then you get that one cocky trade where you just see a rug pull on your account" This is very applicable for me. When do good on my discipline and see my account slowly go up and i've done it a few times when i get too cocky on the trade and lose most of those gains. This is whats holding me back to becoming a consistent trader. Thank you Nate for all you do.

[@geolemus4114]

18:35 - I rather you be out, than wish you were out. Don’t forget you’ve worked hard to build your account. It’s not about gains in this business, it’s always about what you do with your losses. If you don’t get them in check, you won’t be trading for very long. Amen!

[@Thetraderchick]

Amazing video, it's a really informative scan. I read the other day this "Do not enter a trade if you don't have an exit plan". That's true, you shouldnt enter a trade where you can't picture the exit!

[@seanperez9249]

Whoo! Thanks so much for the free month! So excited, can't wait to get started!!

[@LetheMusicFlow]

19:57 Very good advice here. Especially the part on risk too tight. I need to look at macro with a risk below the support given slippage

[@bartb4208]

21.31 Nate great topics today. IKNX perfect example of getting out too early, not taking a few cents of risk when I had conviction of the 2-3 pm cover. Sized in just too much, emotion affects trade, THEY flush the STOPS and the price pop comes after as I had conviction it would. At the STOP flush I missed all the signals IKNX was going to push because at that point I was mentally done. Kicking myself but learned a great deal of information and live experience to measure R/R and conviction.

[@DawsonD22]

4:48 , Exit Plans. Thanks for touching on this Nate part 1: "what kind of move is it? is it a steady grind, has it given a reason to move on from position. Dips/pops along the way but zooming out a look at overall trend see if thats still in check" part 2: "are you looking for daily pay check or wealth building mode. dont get discouraged locking along the way but keep in mind what stage you're in in your career. Big picture is where you should end up in the long run"

[@Matt90G60]

Great stuff Nate as always, super excited for the week ahead. 27.22 "we can make the perfect call and not trade it." Yep, this happens to me too often. I need to get better at following my own plans.

[@daytrade1013]

10:03 Covering a Short Position into the Close: Any time the trade goes straight down on a short without any reason for shorts to cover, that is often my reason to cover because I do not want to be competing for the offers at the same time when everyone finally has that 1st reason to cover. If there are many reasons to cover during a grinding downtrend then that is great because that can last a lot longer. If the downtrend is straight down with no reasons, as soon as it turns there is going to be a compound effect where shorts are jumping on top of each other and that can lead to a squeeze into the close

[@tradermarubozu1956]

"If you overstay thinking you're going to get more you're going to get less" Nate Michaud @ 30:50 I know I put my key take away in late, week wasn't so good, my option's melted, so after market close I thought I would review some things. Thank you as always.

[@jmazzar2]

KEY TAKE AWAY: (18:30) PATIENCE. Rome wasn't built in a day, and neither will be your account. It can be hard to remember this with a small account, and want to always go for the homerun/10x bagger, but these are few and far between and chasing them often leads to losses. Small consistent wins add up over time. And this is the way I should be building my account. Thanks Nate!

[@edmundas7135]

10:04 "if it goes straight down im out and not competing for offers on going up".also new motivation to cut losses quicker -14:28 "Your account grind up takes a lot of work. Major losses come from personal outliers" Wnderful. Have a great week

[@cnaccio]

I watch every single one of your videos; thanks!

[@silvikification]

21:30 Trading involves risk. So many times I've told myself this and yet...don't internalize it. I get stuck in the I don't want to lose and I don't want to be wrong. Thanks for answering the question Nate. Great reinforcement.

[@stephenwholden]

That was my key takeaway as well - agreed!

[@applecore323]

7:40 You don’t always have to wait until your stop is hit. When the thesis for your trade no longer holds, such as downtrend is clearly over, can start getting out instead of waiting until your stop to hit

[@samkeller989]

9:40 staying in a trade to teach patience but stay small size. Nate said 100 shares. I do 10 shares. I’m really small. But building patience with a size that won’t blow me up if I’m wrong. Then move up slowly.

[@justintrades8656]

22:40 creating wealth over time is thinking of the big picture trade and letting trades work for you and getting out of the “I gotta be out” as soon as I get in mentality.

[@Riku2005]

Quality video, I'm always here for the mindset talk, could careless for the scans. Nate makes me so calm the day before the market.

[@cutelittleanimals946]

16:36. I have said this move doesn't make sense, let me see what it does, and it keeps gridding up melting my account slowly that accumulates to make it a trade with a massive loss. that is me. thanks for putting that on the video. a big lesson.

[@aaronlevenson4138]

21:30 trading involves risk, you have to be ok with being wrong a little bit of the time as you are not always going to be green.

[@garrettliang1652]

2:34 a lot of time I turn a good trade into a bad trade because my mind can not accept my nicely green become red and the hole just bigger and bigger. It's a good mindset that you always can get back in.

[@rojanziaei6020]

"It's not about the gains in this business, it's always about what you do with your losses and if you don't check them in check, you won't be trading for too long!" 18:50

[@mohammad8816]

1:50 make sure to look left and support levels

[@seanlogsdon9241]

8:00 No reason to hold when down trends breaks, stock starts to rally. Why give back entire profits and wait to get stopped out

[@Conchsausage]

8:23pm Look left and wait for the set up. build a position. watch the L2 and the tape.

[@MsMeowness]

Not sure of the timestamp, but the micro vs macro was ace for me, particularly the scalping aspect. I'm growing a smaller account and this was a key insight into a longer-term view for me to be aware of.

[@manaskorde4247]

1:39 this market if you are participating as a you know kind of contrarian view, you have to make sure you're looking left, looking at prior levels of support and you should assume that they hold, traders with small capital and newbies should follow this step to trade well, 26:20 $SPCE "pull back trap trap trap trap into 9.45 and launch at 10 am, picture perfect", solid setup to go long as well as to grow small account with good risk management...!! let the chart tells the story

[@DARKKLIN1]

28:15 "slow steady grinding down , but there was not a really exhausting candle" that awesome point for me , because i started short space because i thought that 52.7 was "broken" and it's may pull back to at list 50, yep i was wrong i cut my loss at 53.20

[@sandroc1605]

19:50 what a slap in the face hearing that, but is exactly the slap I needed to "feel" to wake up and adjust. MUST WATCH, IMHO.

[@luiboypresent]

A only takes 1 trade to take us back ... Way back like March for me 🤣 but we getting back up . Thanks again .. let's wait to tomorrow for the charts

[@slimkrazee4440]

21:55 - I think this has definitely been one of my problems -> micro mentality, need to let my trades work more often instead of getting out ASAP. Good stuff as always Nate always learning from you.

[@fiveone5054]

Hey Nate love your thoughts your advice and you’re trading ideas but is there anyway you can get caption put on I have a nephew who watch with me who is hearing impaired I don’t mind explaining to him what he can’t catch but it would make it easier when I’m not around

[@kennethalvis3906]

1:05 "Once that volume starts clicking you just gotta trust it" That has been difficult for me because I have a hard time trusting vs my bias.

[@davislake5176]

Your mindset has to be different when building an account and building your wealth. When building an account you have to have a little tighter risk management.

[@isaiahzuniga5102]

Thank you Nate!

[@perfumestyles4755]

Excellent tips love your tips and tricks.. best trader ever

[@believeinyou5257]

Time stamp 21:40 - 23:30 take away here is to trust the process after I've made my plan, set my stop loss and be willing to follow through on plan to create possible massive gains.

[@ashrafel-gaaly8657]

Thank you!!! I’m just never good with day trading. I’m very good technically, just don’t have the day trade skill set. So I mostly swing trade so I’m not sure concerned about the perfect entry to the penny

[@920BLai]

20:25 Think macro, not micro. Almost wanted out as soon as you get in. I've been doing this for a long time and maybe it was the way I was taught scalping, but it's tiresome, at least for me now. What I'm finding out now that a lot of trades I'm in, I'm actually right. Have to let the big picture play out. Thanks Nath!

[@mskitty-zc6vs]

great Monday Nate SPCE, AVXL... thanks!!

[@ryanking4433]

Thanks for the education brother

[@ryankane9208]

Trust the areas of support and resistance especially during times of super high volumes.

[@kylem6481]

9:30 learning to be patient with a trade is something I need to be better at. I take profits too quickly. This is a great way to ease into and train your brain to be patient.

[@kylem6481]

17:10 if you are on the edge of your seat and uncomfortable with the trade, you shouldn't be in it. Those overly excitable trades often cause some poor decisions and risk management.

[@charlessmith7161]

18:00 Big losses happen when you’re uncomfortable. Remember what happened last time. Thanks Nate.

[@jdelgadofig]

@1:40 If you are a contrarian make sure you are looking left #AlwaysLookLeft

[@michaelfitzer8792]

22:00 Don't have a micro mentality. If you're in out in out you're scalping. You want a bigger picture to exponentially grow your account.

[@michelecastro7487]

"Always look left". Ok but when the stock is an IPO the left of the chart is empty ( there's no history) so what to do in this cases? ALF or DBGI for example.

[@mjg4936]

Good shit man!

[@Dsize]

08:16 no reason to wing for a homerun when you're up nicely on a trade and to ignore signs that the fade is over for now. Pay yourself along the way because rallies can go higher than you think. size back in if you see evidence of the trend breaking again.

[@michaelaspiazu3151]

40:11 MRIN Adjust risk into huge moves.

[@clancyc4]

20:49 People nearly out of the trade before they get in. Zoom out, what are you willing to risk on the trade. give it time and space to play out

[@John-sn4hl]

21:00 talking about micro mentality was gold. I'm trying so so hard to break out of this but it's tough.

[@perguth]

26:10 Textbook long rehearsal and example.

[@user-zd8bt1cn3b]

can we post charts and screenshots in IU chat?

[@myfeeko]

6:13 - Are you in the income stage or wealth building stage? (mindset)

[@jyoung6708]

16:40 "If it doesn't makes sense , Get out. Get. Out" . This is the most important key takeaway of this video. Everyone says "let's just see what it does" . Nooooo, get out! I finally joined the team at IU, i have 14 months to improve my trading with the some of the best in the world, lets gooo!

[@TheMikeDMedia]

keytake away 27:40 long aet up for current meme market conditions. abcd consolidation , dips soaked

[@seanperez9249]

I was informed from the video that I won the free month of IU, but how can I claim? I’ve tried emailing but haven’t received a response yet. Thanks!

[@stonksforever]

10:30 When is straight down and no reason for shorts to cover, as soon as it turns, everybody starts chasing up each other and compete to cover ( jump over each other) that causes the squeeze

[@XsoulflyX]

11:20 Wait until 10am to see which stocks are gonna be the faders and which the runners

[@mannyavila71]

11:40, you don’t have to take a trade right at the open. Wait for the market to find itself.

[@bakedcookie420]

9:30 How are you so patient when in a trade? Go through the motion of being patient when taking profit and letting your trade work out, use small size, just watch out for consolidation

[@Teckviz]

22:00 Scalping is good for building an account but for long term growth ones would have to unlearn it

[@wallstreetgambler9151]

18.00 I would rather be out than wish I was out. With that been said WKHS is going to be the next one. stay tuned.

[@gtrdude6]

2:33 Up nicely to down is like a kick in the groin. It doesn't bring our some of my weakness, it brings out ALL of my weaknesses as a trader. This is the moment I change from trader to investor and start wondering about the company's fundamentals. Trade plan imploded.

[@thinkrich5951]

Yeaaaaa

[@nikolayivanov7125]

02:20 More often than not if I don't put wish orders at key levels i end up minimizing the gains...

[@Wannaspeed]

21:29 "Trading involves risk, you have to be ok with being wrong a little bit of the time"

[@naplesinvestor]

25:17 how to trade SPCE!

[@lucaconnor2866]

What is traders4acause?

[@RickyTrades_]

Always look left🤟

[@vanjensy]

is that TraderTV in the back on the youtube videos page? nice a watch those guys too!

[@XD1234ism]

8:23 don't give back the entire day of profit

[@daytrade1013]

32:09 QIHA QIA WISAH WIAH QIAH WIAH W.I.S.H.

[@RobOsoria]

19:39 Anytime the ego gets in the way, just remember what happened last time 😅

[@Noispaxen]

7:57 No reason to let a good trade go all the way back to your initial stop-loss, if there are signs of reversal all over it. (Happens to me all the time...)

[@PropTraderz]

Amc🚀🚀🚀

[@Quickbags]

18:00 I’d rather be out then wished I was out

[@markjones1538]

17:10 If you're on the edge of your seat and you're NOT comfortable on a trade, you shouldn't be it. That's when bad things happen.

[@kevinsayan190]

14:30...You would rather be late when you are shorts

[@mannyavila71]

17:00, if you’re not comfortable, don’t be in the trade!

[@brandonwatts8545]

22:07 I find myself being stuck in micro mentality. if fact most of my trades have been scalping. I like your comments on it, and the mentioning of how you can grow small account but there isn't a secure long-term growth plan because 1 trade can shut you down.

[@leot2646]

17:11 if u are not comfortable, you shouldn't be in it, that's when bad decision happened.

[@mikeb773]

17:30 when you are not comfortable in a trade you should not be in it

[@davidworrell86]

11:54 your wrong

[@lukev4006]

16:30 you worked hard to get your account to X why let 1 loss take out all that work