I don't care how long you've been trading you're gonna have a mental day that is just not there. Okay, and the key is not Welcome to access a trader the number one community for those who are committed to taking control of their trading in order to achieve success profitability and longevity Thank you for joining us. Here's Dan Shapiro to help you find your edge master your process and own your future Hey guys good evening everybody welcome to another edition of the access a trader calm nightly wrap-up show Everybody is doing well Where we even begin right if you thought 2002 2002 2020 was crazy the start of 2021 is really kind of upping the ante and The big story overnight was obviously the runoff in Georgia. We talked about that Nobody knew what you know with the election results were going to be When everything was said and done it looks like the Democrats have secured the two seats But that's not even where we even begin.  I lost some money You know what it's part of the business Let me let me move aside and there's other days that you're trying to wrap around your head of What actually is going on and it's more tiring than anything else again This business is so mental that it's so important to kind of stay sharp not kind of stay sharp Just really really be sharp and when you look at today's events This was really one of those days that it grinded you down mentally and If you weren't careful, I mean really really careful and watching exactly what was going on You can have a really really hard time kind of maneuvering around today, especially in the afternoon You know again, we had to run off yet the market open up this morning The Dow was up five six hundred points the Nasdaq was down 200 points You had all the Democratic friendly names Running this morning you had the pot stocks running yet the EV stocks running yet the solar names running everything was all good Right and then next thing you know and we talked about this we talked about this at morning strategy The last thing we wanted to do is start shorting stocks in the hold this again If you've been watching this broadcast even for you know, even for a year any time especially in a good market any time you get a Aggressive gap down and anything the values always to the upside and in a bearish scenario If you ever get a gap up the values always to the downside So the last thing we wanted to do especially With the overall general market being so strong taking out of the equation how Crappy a lot of these beta names were acting again if you watch last night's video we talked about this You know the majority of these beta names were under supply, right? We talked about this the Amazons of the world the Netflix of the world Facebook so forth and so on and we'll get to the video in a second This is how crazy this market is but The most important part was I didn't expect a lot from beta today to begin with but I knew for a fact I didn't want to short them into the hole because again until the Nasdaq 100 starts breaking down levels And we talked about this this level last night 305 the last thing you want to do is start preempting a trade again We don't anticipate trades the same thing on the flip side We talked about last night in the video as much as I loved the video yesterday The last thing I wanted to do is preempt the trade guess where it was gonna go next Thank God because you see what it did towards the end of the day But again, you had so much to digest this morning. You had the runoffs, right? The Georgia runoffs and then next thing, you know in the afternoon you started seeing some crazy news come out Alibaba The whole China fiasco the US is considering banning shares of trading in Alibaba Alibaba gets I mean absolutely destroyed I mean just just absolutely destroyed Literally on one candle if you saw this candle, this was real This was all one candle just getting absolutely destroyed and then just when you think things couldn't get crazier, right? The market started coming in a little bit. You started hearing, you know, you started hearing buzzing that there were Trump protesters, okay? Storming the nation's capital for God's sake getting into the nation's capital getting into all these different aspects where the government Is conducting their day-to-day businesses and you start saying yourself. No, this can't be real because again Logically if you hear something like that happening, you're expecting, you know secret service FBI God damn did the army come out of start shooting See didn't even think it was real, but this was real and you started seeing video come out of it Complete turmoil and when you didn't think that was even crazier enough Trump goes on on Twitter on Twitter of all things and Does the ultimate the absolute ultimate he snitches? He snitches on Pence and I quote right from his Twitter feed Pence did not have the courage to do what should have been done to protect the country and the Constitution My mind is blown my mind is absolutely blown that this was all going on today And oh by the way, we had to trade the market today. So absolutely one of the craziest Driven sessions news headline driven sessions that I could probably remember Jesus and get think about we just went through 2020 and this blew me away today. Just absolutely blew me away today the amount of Information that was thrown at us just absolutely insane. Oh by the way, and there was FOMC minutes Who even remembers what the FOMC was even talking about?  I came out of today Mentally like I lost 10,000 brain cells like I really did I by 4 o'clock. I Couldn't even even form a sentence like I was talking to my daughter She was just I don't even know what we talked about But all I kept on remember was just nodding my head and just winking just like the words wouldn't come out of my mouth But this is why it's so important guys Your mental health is so damn important to kind of maintain from day to day And if you look at today's session, I couldn't get anything going I really couldn't get anything going today. I had some nicky-knack losses. I had some nicky-knack gains I completely botched one of the best pivots of Roku For the week and again I did well with the video the last couple of days and we'll get to the video in a second but this was just such a Frustrating day for me all the way around and the one thing I figured out a long time ago when the market's Giving you bad hands and you're playing those bad hands and you just can't get going The best thing to do is kind of leave it alone Because if you continue to push and if you continue to kind of squeeze water out of a rock You're gonna wind up instead of a tiki-taka kind of a paper cut day You're gonna wind up mentally destroyed and you're gonna start revenge trading doing all these creative things that you take You take you one little you know day and turn it into like a severed head So the last thing you want to do because of the mental side when you see your You know your market or your Process kind of stalling out just because maybe liquidity or a new cycle Whatever the case may be the best advice is just kind of get out of the way I really just got out of the way and it hurts because I really messed up a really big Roku pivot It only went up, you know, $12. I wound up making a cup of coffee on it just because I was a little bit more conservative this morning Which I don't you know I'm trying to play back the trade in my head over and over again But the moral of the story is just just wasn't just today just wasn't my day nothing to do with Monetary just one of those days that you just can't get going. It was very very frustrating All this new cycle got thrown at me at one time. So it's like a double dose of like Everything that including the kitchen sink being thrown at you and again The best thing to do is kind of recharge right gather your head gather your you know Your your your thoughts get your game plan for the next day and kind of push it forward because again If you continue to push in a market, there's just not complimenting what you're thinking You're out of business. I mean you're out of business very very quickly both mentally and eventually financially and and here's the most ironic part If all that wasn't enough, I loved in the video, right?  Look look how good it's setting up here It's two days over the 50-day moving average There's some great option flow But the key again the key will we talk about all the time as much as we love this setup And I talked about this very very specifically last night in the video as much as we love this setup, okay? We don't jump, you know, we don't jump in until it confirms I thought it was gonna go higher it looked like it was gonna go higher But until it confirmed this top of the range you have no trade You just have a trade setup and unfortunately you see a lot of new traders You know, they look at a stock and go wow, this looks great. I'm gonna buy it. It's not confirming yet It's not at the sweet spot yet, but I think is going on guys. Don't think okay Don't think the worst thing you could do is think and wish and want and try to Mentally will the stock to go where you want to go and the most ironic part and maybe this will be kind of like You know the main course of 2020 was the appetizer 2021 is starting out as one flew over the cuckoo's nest like like beyond craziness Maybe this is the main course in 24 hours and you know, you rarely see this But in 24 hours NVIDIA went from literally a long setup, right? One or two days away from a long set up and look at it now Isn't it amazing like look at this thing now this thing is it looks like it wants to challenge the October 30 low So just an absolute Crazy day, I mean, I think that's the best way of saying just absolute crazy day. I'm not a drinker I had a I had a couple of I have a couple of shots on New Year's Eve. I drank a little champagne I had a little bit of scotch, but man, this is the market that were really really, you know This is a great great time to start that drinking. Have you always wanted so absolutely crazy day If you look at the pivots today, if you look at the pivots, they do aggressive They really were but at some point right at some point when you get like for me For example, I kind of just got out of the way At some point you just got to get out of the way because again your mental health is more important and no matter what would happen today There was just no point for me to continue to push. I just wanted to kind of leave the day and kind of regroup So there was some really good moves. The problem is a lot of the moves were very very thin like again This looks great on paper, right? It looks absolutely great on paper Baidu 212 of bills below can flush note held there three times we talked about Baidu yesterday on the video There is no way there's absolutely no way you you could have gotten Baidu short off that not with any type of size Baidu here was the 212 right here's the 212 we talked about last night It was a dollar spread at the open hundred share lots and it literally went from 212 to 207 right 207 like it felt like it got there like on a thousand shares It was just no liquidity at all. So again, it looks great on paper, right?  So this unfortunately again another another example of how frustrating today was You couldn't get it off next thing, you know, yada yada yada perfect move to 204, but it looks great on paper, right? It is what it is Then you have then you have beyond beyond gets downgraded today 121 50 121 if it builds below can flush again. Congratulations for you guys who did catch this pivot again I just got out of the way again. It just wasn't my day I just wasn't wasn't pushing so here's the 121 50 went all the way down to 117 If you caught it great job, if you didn't it is what it is a nice move on neo 54 50 needs to build here Is neo right from the word go again a lot of these EV names sparking because of The democratic at least initial win big move here at 54 50 got into the 54 50 area And then everything obviously turned around on that on that anarchy Crazy move there as well Square you know nice pop on square upgrade this morning of 230 50 to 230 50 needs to build here was square right here was square Took out the 230 50 went to like 230 350 nice little move there on square Skills was a nice little move 2390 24 needs to build again the SPAC names the arc, you know the arc trade so it took out the 24 Went all the way to 24 70 not a big move at all. But again, it is what it is there VER you just never gave a second entry I still like I think closer to 10 this thing can wake up. So let's keep an eye on that bbi never got there Take on the way up GEOV again, just that just a nonsense trade for me. I bought it today. I didn't wait for the second entry I wanted to losing a dime nothing, you know, nothing here. This is the trade that I completely messed up and You know, I keep on replaying this trade in my head should I've waited for a bigger pullback before the second entry? Again, you kind of go over these trades over and over again again when when they go Right and you get you catch a pivot and it goes smooth like the video in the last few days It's been really really smooth to three four dollars. Everything was good to the upside and When they stall out you start saying yourself, oh, wait a minute. Well, who has control of this pivot, right? So I get long Roku and it just it went up like 50 cents and it just sat there and it just sat there And it just sat there and I know for a fact the longer stock sits there There's a difference between building over a pivot, you know 36 37 38 Then just sitting there the longer it sits there and it doesn't appreciate off Off that natural pivot the likely and especially we saw today how weak the Nasdaq was the likely this thing is to get pulled So I made the choice I got out of it I made a cup of coffee on the trade and and then I watched the stock go up literally $13 and You know, it's disappointing. I can take you know, I can take losing money. That's fine Losing day, that's fine. But again, and I think I speak for a lot of traders have been doing this for a very very long time I never get upset when I lose money have a losing day I get incredibly irritated in myself when I mismanage a trade or overthink a trade or Get a trade that looks really really good And I and I miss and I just mismanage it technically or you know, or putting yourself in a situation That you know, you're in the right trade, but you're kind of second-guessing now What's going on and that's exactly what was going on today. It was a little bit.  Anyway, if you I know a lot of you guys did catch it I'm very disappointed myself GP 32 50 32 75 needs to build here was GP that second entry went all the way up to 34 and a half so nice nice push on GP if you caught that as well Square we talked about that And that's it. So, you know Yeah, the market is nuts the market is nuts We try to be perfect as traders. We try to be perfect as parents of spouses and And as parents, but the problem is we're not we're human beings I don't care how long you've been trading you and you're gonna have a mental day that is just not there Okay, and the key is not to dwell on it. The key is not to Take it with you for the next trading day. The key is to accept it for face value It is what it is. You're gonna have another day like this, but the most important part is get over it It's over guys. God bless. Please stay safe. God bless America. I mean what we saw today the chaos that the you know the Just absolutely anarchy so guys. God bless everybody stay safe and what God's help will have a nice smooth session tomorrow Take care guys. Have a great night


Entitlement is destructive. Entitlement has really destroyed the fabrics of our nation, especially among young chaps. It's a long chain of kankawom that has incapacitated the minds of people, is deeply rooted in the belief that people owe me stuff. This damaging belief system has created the ideology of the blame game. When people fail, they immediately look out for people or things to pass blame on, as a reason for their failure. The subject of entitlement is an old thingy. Here are some relatable examples to illiterate what I'm talking about. I am the first born so all my family responsibilities will be pushed to me when I start earning some income. My wife is supposed to get my food ready before I return from work because it is her sole responsibility as the woman. Everyone is making a fixed amount due payment of $15,000 in my department in church, but my own due is $200,000 because I work in a multi-national so I can afford it. After serving lunch to my auto technician on a few occasions when he visits my residence for repairs, he automatically thinks that every visit to my residence must be accompanied with lunch. Hilling me senior man, chairman automatically makes me your kashkao. I am the wealthiest in my hometown so my wealth must get to every family in my hometown. I just returned from Venice for my usual yearly vacation and some random folks believe that I must have something for the boys. The job is mine because I'm a first class graduate even when I clearly do not have the appropriate skillset needed for the job. We played street football together as young stars so you automatically owe me a spot on your cabinet as the governor even when you clearly do not qualify for such position. My money has become your money because we are from the same kindred. Examples are inexhaustive and I'm sure you can well relate with some of them. Entitlement starts at the mind level and then transitions into a behavioral pattern which creates a certain outcome within your life. When you consciously believe that people owe you stuff you may eventually suspend your creative energy and switch into dependency. Entitlement has crippled the operational system in Africa. If we must raise a new kind of forward-thinking progressive millionaires and Gen Z's we must get to the root cause and begin to deal with the subject of entitlement. If we must create meaningful success we must begin to unpack the mentality of entitlement from our operating system. The moment you come to terms with the ideology that no one owes you absolutely nothing. That is when your real freedom begins. Absolutely. I think I want Ijima to respond first. Ladies first. Ladies first so she's the only lady in the room. Ijima, what do you have to say about this? Wow, I like this topic actually. Entitlement for me and when I approach it from a balanced angle yes, you're so right, you're so on point with the fact that we back home we believe that you owe me this, you owe me that you must tip me because I've opened the door for you and well you earn a little more than I do so you have an obligation to give me a little this and give me a little that so while I frown on it completely I don't want us to lose the fact that in Africa as a whole there's poverty and there is a wide disparity between the rich and the poor and it might actually explain why people have this sense of entitlement I must say and I must explain that in totality because where you know that you can earn a living make the barest minimum send your children to school have food on your table and you're out of work yesterday you can get to work today then you won't have to rely on somebody else to help you pick up the pieces in your life and I want to also believe to a large degree that humans would not ordinarily want to be beggars or want to live off another person and so we must be very careful when we look at this world called entitlement particularly from the Nigerian and African perspective here is a different ball game if you ask me for something I can tell you there's a job you can pick it up and do it in the next one hour make 20 pounds get food on the table if you need somewhere to live for a week I'm ready to host you but I know that if you work for 10 hours a day for 5 days at the end of the week you'll be able to get a room and sleep you'll be able to get food on your table buy warm clothes you can go to a charity shop get cheap things and get a life for yourself so here the sense of entitlement is not so high but we must be very careful at home if you begin to preach this policy there's a huge gap between the rich and the poor at home and so sometimes in the neighborhood you're the only one that has a job you're the only one that can even get a job so when people rely on you we have to also be careful but at the end of the day we must find a balance before we criticize entitlement at home absolutely it's a balance it's a thin line to be very kind with you I think that some of it, I mean it's not all poverty some people that have money and are still entitled to it so it's not really a poverty, it's a right thing but I think that it came from a good place and I'll tell you what in Africa and Nigeria we're very familiar we're very common now growing up, your neighbors you're eating you have this big bowl of food everybody comes and eats we share together we're very common and very familiar so for that reason there's a sense where you feel oh if your neighbor has then it's yours if you have then it's yours okay, the world has moved on from those kind of things so on one hand, which is why I agree that the balance is important on one hand it's important to know that what is mine is mine, what is yours is yours and then if I give it to you it's because you have earned it or I feel like giving it to you when you start to feel as if you feel wrong because I don't give it to you, that's when there's a problem I mean you have a right to ask me and I have a right to say no, that's simple that's where the balance is I have a right to ask I have a right to say no and if you say no, I have a right to walk away and not feel disgruntled but it's not the same because every time you travel you go out to the airport everywhere I mean everybody just feels like they have done something that you've earned because they feel like you've probably earned more than them but I just think it's totally wrong I personally attack that thing I attack it every time I attack it there's an extreme there's just an extreme to it that makes people stand and it hasn't the probability to make people lazy if you're not careful, you can just enable these people and then you just find that they become lazy because you've said it's poverty or this I mean some people are poor and they work their way up out of poverty so it's not every time we say we have to be careful to look at those things and achieve a balance the truth is even if you are poor even if someone, I don't want to use you but say even if someone thinks he's poor because he cannot afford 3 square meters please don't believe you are poor just do something now let me stretch your examples election is coming 23 any person that comes to campaign must buy a sauce and rice, bag of rice, bag of sauce and this is corruption breeders if you go to the bank to deposit funds in the bank they open door for you and it's quite embarrassing a rich man is paying his tax the government did no fixed rule why this organ no fixed rule that's what they would be saying but is he rich man, he can fix the rule for us but he's paying his tax now if he likes to fix it why don't you go and hold the government as possible is he rich man so this entitlement thing it's an abuse form of communal living like you said, if the purpose of a chain is not understood, it's abused we have moved beyond communal living even though it's good to be a good neighbor but everybody should just be responsible for what they want but although not being said if you have access to give even if you don't have to give I would at least encourage people to give genuinely and also help people that really need seats do that with a good heart not because of you are trying to campaign or converse for something, do it don't assume that okay because I help you therefore I'm entitled to these people coming to worship me like a mini god it's a game of expectation management listening to it again and all the conversations I think for me it's expectation management I think the last line of your thoughts you said something about doing something and expecting nothing that requires a great deal of maturity a great deal of orientation so if I go back again to the previous conversation the value system needs to be a new launch of values because like Tolu said it is almost becoming a rights you can walk through the gates in the airport without and you know you get all those pleasantries and the moment it's clear that you are not ready to you will get a totally different the switch and it's almost as though it's a right and those cuts see where just there's something out of you so I think we need to revisit the value system those things need to be thought again it should go back again into the music that the children are thought in school and then as adults is that place of managing expectations they really don't owe me anything if we look at it it's a tough thing to review looking at the economic situation if I travel to Canada almost hammer if I go to Canada I will go to UK before I ever you will be a visitor in America exactly so your values define who you are let me just look at a simple example of tips for instance you go to a restaurant abroad it's almost a rule it's like an unspoken rule to give a percentage of what you spend and they expect it but if you don't do it they won't look at you for any so Ejimai the reality in the UK you should do it absolutely if you eat abroad if you eat abroad it's an unspoken rule sometimes it's 5-10% if you don't do it no one is going to hold you responsible but here you should do it if you don't do it it shows that you are ill-mannered if you can't afford it there is nothing to do it's not the most to do it so if you don't have the money if you don't want to do it it's a different thing you will not have it's an unspoken rule imagine if somebody is describing you as ill-mannered that's a huge thing it's not compulsory they won't tell you it's compulsory but because they know they expect that you are well brought up you have good manners then you should do the right thing it's really important that we draw the thin line but however I believe personally that no single person that has succeeded tremendously has been built around that mindset of being entitled and believing that somebody somewhere owes me stuff so stick around Ijimai is up next after the break