 Good evening, everyone, and happy holiday, happy Easter and happy Passover to everyone. I thought I would do a video this evening because I had a few, actually quite a few questions on the webinar I did earlier this week, or it was last week, it was on Wednesday. And I had questions. It was about shorting stocks, the gap, and about using my system. And I have had some of the similar questions that I thought I'd just do a video. I have to go back and listen, I did tape myself. I talk very fast, though, often when I'm in these timed webinars and I talk fast in general, which I am aware of, although I'm trying to do better with that. So forgive me if I talk too fast, but I thought I would take the time now to go back and explain some things because there seems to be some misunderstanding. I also know that when I'm talking, sometimes I'm talking about a hundred things at once. And if you don't know me and know my system, then it might be hard to follow me. So I get that. I'm going to continue to do my own thing. So it's better to just ask questions if you don't understand something. Let's go look at new. Okay. So this is the one I talked about, actually, from, no, is this new? It was this week. Hold on. I was on the first. First of all, one of the questions I got from several people was that I said in the webinar that you needed a hundred thousand dollars to do my system. I did not say that. I said, if you want to trade my system, the golden gap and be profitable to make a hundred thousand dollars a year or more, as far as the amount of money you need to risk, you need to be able to have at least a hundred thousand in buying power. There's a difference. There's a huge difference between a hundred thousand dollars cash, a hundred thousand dollars in buying power. I say buying power, you can call it leverage. It's the amount of money that a broker will give you, whether it's a retail account, a proprietary day trading firm account, whatever your type of account is, that they will give you leverage or BP on your cash, on your real funds. But that's a big difference in the hundred thousand dollars cash. You do not need a hundred thousand dollars cash to trade my system. However, I did talk about something else in that webinar, which I'm going to talk about in the webinar, which is on Monday, April 6th, which is about making a million dollars a year in the stock market. In order to do that, to hit those kind of numbers, my suggestion is you have at least a hundred thousand dollars or more. Okay. Now I did talk about both of those things in the webinar Wednesday, so I just wanted to address both of them. But if you want to trade my system and trade the golden gap course, you do not need a hundred thousand dollars cash, I just want to be clear on that. You don't need a hundred thousand dollars in buying power, but if you want to be able to make that much on an annual basis to be able to risk 250 to 300 dollars a trade, you need to have a good amount of buying power. Again, this is not cash, but buying power leverage from the broker to take the positions. For example, and this is a good stock to use as an example. Two, okay, going back to the first. The strike price of this stock, if you shorted this here in the first five minutes of the day, or let's just, I'll just pick a random number here, $46.75, okay. If you wanted to short new, at $46.75 strike price, if you took a thousand shares, that's going to take how much buying power? You take 1000 shares times the strike price, this is how you figure out for any stock, okay. Now, if you are with a proprietary day trading firm, they give different leverage. You have to talk to the firm itself and find out what kind of leverage you're going to give you on the funds that you put up with that. They require less funds than a typical retail account to day trade. You have to talk to the firm directly. A retail account gives four to one as a day trading account for you to take positions. If you reach the day trading guidelines, again, you have to talk to the broker about that. But I'm going to use that as an example, because for example, if you had 25,000 in a retail account, you would have 100,000 in buying power, even though you only have 25,000 cash, okay. You still have 100,000 buying power. So you would be able to take a stock position. You could use all of your buying power, 100,000 if you had 25 grand in the retail account, to take the position and new. Now, as it turns out, there is firm stocks that you want to short. There's a margin requirement where they actually take an extra 30%. So this is added on when you're shorting, okay. So for example, and I'm just going to try to make this really simple here. If you were looking to buy new, which you wouldn't do in this trade, this was a short. If you were looking to buy a position in new with 1,000 shares, it would cost you $46,750 in buying power. You were going along the stock, okay. If you wanted a short new, it would cost you $46,750 times 30 plus $46,750. Basically it would cost you more than $46,750 to take the new because you have to add on the cushion of 30%, okay. So that's where I came up with the idea where I'm saying if you want to be able to take more expensive stocks like $40, $50, $60, $75, $100 strike price and take good size positions, 1,000 or more, for example. The best thing that you can possibly do is start out with what you have, okay. Learn the system. But ideally your goal is to work up to the point where you have 100,000 in buying power. Because for example, a new, if you wanted to short the stock, it would have 1,000 shares. It would have used about 60,000, some thousand in BP, okay, in a retail account. Now in a profit account, again, they don't calculate it that way. I'm talking about two different types of brokerage firms. You have to contact the brokerage firm where you're going to open up the account with your money and find out the leverage, the buying power that they're going to give, the cash requirements, all of that. But when people are asking me about my system, you do not need $100,000 cash to trade my system to be profitable. You could have whatever amount of cash to trade my system to be profitable. But since the webinar was on making six figures a year or more, I suggest that you have six figures as your leverage amount buying power in order to be able to take position sizes. Because for example, if you wanted to short the new and you had $100,000 in buying power and you took 1,000 shares, which you could have done, you could have taken more than that, but I'm just using 1,000. It would have taken up about 60,000 in buying power requirements. And if you shorted this stop, it dropped on down and had a beautiful move and you would have made $1,000, okay, plus more than 1,000. And obviously, that's a good position. And if you're looking to make, you know, a grant a month, okay, as a trader to make $100,000 a year, then you are looking to do it to have some $1,000,000 days in there. Because $500 a day basically is $2,500 a week. That's $10,000 a month and that's more than $100,000 a year. It's $120,000. But there'll be some days during the year that there will be holidays you will take off or low volume days around the holidays where you won't trade. But getting back to the webinar, just to review. When the webinar explained, you do not need $100,000 cash to trade my system. You can trade my system with a small amount of money or as large amount of money as you see fit to risk. You have to determine your risk based on your cash balance. But I suggested that if you want to try to make six figures a year or more with my system, that you have at least $100,000 in buying power, not cash. But I did talk about having $100,000 of cash. This was at the end of the lecture. And again, I'm going to be talking about this more in the lecture tomorrow on April 6th, where I'm talking about how to make $1,000,000 a year in the market using my system or more. And in that case, you'd be taking more risk. And my suggestion is that you have $100,000 of cash. There are people that want to make $1,000,000 a year in the market or make millions. Some people are having making $100,000 a year. Everyone has different goals. The most important thing that I want people to get out of the webinar or any lecture that I do is that knowledge is the most important thing in order to be successful as a trader to make money in the market. One of the reasons I'm successful, there's a lot of reasons I'm successful actually, but one of the reasons that I'm very successful is because I realize this. And I got to be honest with you, I didn't realize it out of the game. It was I kind of thought the knowledge and knowing what to do was important, but I didn't realize how much until I started trading live and losing. And then after I was losing, I realized, okay, that geez, you know, I don't know what I'm doing with this thing. And then that's when I started to get serious about it. And that's when I figured out my system. But I'm not saying that I was never serious about trading. I was always serious about trading from day one, but I became really serious about it. Once I started out at the beginning and when I started losing, realizing that, you know, I really need a lot more information than I thought I did and that I knew, which is I started to figure out from the market, from the charts, from the charts, we're looking at right here. Okay. The market taught me how to trade. That's how I learned all the things that I know in reference to coming up with a golden gap system. The market told me what was there by doing it over and over and over again and doing it with live money, by the way. So I just want to be very clear and I will talk about this more tomorrow in the webinar and for anyone that was at the lecture from the other day, you can trade my system with any amount of money. You do not need $100,000 cash. If you want to make six figures a year in the market, though, I think it's to your best interest to have 100,000 in buying power leverage. If you do not understand buying power leverage, you need to call your broker or a broker and they will explain it to you or you can read about it online. And I'm sure that I've talked about it in various videos that I've done or you can feel free to email me or call me and I can explain it to you. If there wasn't such a thing as buying power leverage, then the stock market would not be accessible for people to trade. But there is such a thing. So therefore it is accessible for everyone to trade, no matter how much money they have, luckily, because of the fact that brokers give leverage. So it's a great thing. Brokers are a great thing because they give the leverage to clients like you and me. And that's what makes it possible to trade without having $100,000 or millions of dollars or anything like that. Okay. Now, when people come and they say they want to wait, do they have this much money saved? Do they learn it? I say they're putting the car before the horse. You got to learn how to trade. In fact, there's nothing more important than that. Because if you learned how to trade and you know how to trade my system and can do well with it, you can take any amount of money and turn it into more. So why not start now? The idea of waiting until you have this much to be able to make this much, to risk this much, you're just wasting time when you're waiting. And you know what? Time is so valuable. My time right now in my life is so valuable, I can't really even put a price on it, quite frankly, to be honest with you. That is one of the reasons I charge for the class. But it's just one of these things where you've got to get going with this phase of your life if you really want to be a part of the market and invest and train and specifically learn my system. I don't think there's anyone that comes to me, no matter how many years of knowledge that they have, that doesn't learn something from me and feels like it's advanced. My class is advanced. And so the sooner you start learning what I know, the better off you're going to be. It's you learn it through me by being with me in the live room and taking the class, but waiting till you're at a point where you have x, y, z amount of money saved to take the class and train and risk this much, you're just wasting time that you could be learning from me and just learning from me, actually, because time is very valuable and it keeps moving and the market's moving and it's all moving. Now one more question here I'm going to address tonight. Someone asked about limit orders. Yes, I use limit orders. I always have, I always will. I've just never used market orders. I've played around with it and always worked out better having limit orders with me. I guess it depends on your broker, how your platform is, but I use limit orders. Now what that means is that, for example, if I put a stop here at 47 for the new, well, let me use an example. Let me use the example of shorting that. Let's just pretend that I wanted to short the new at 46.75. So I put the limit order out to fill me to short it at 46.75 or as the stock's moving, because it is moving, okay, between 46.75 and 46.78. I use a three-penny cushion. One penny's too tight, five penny's too big. So I use a three-penny cushion, but you can do whatever you want for the cushion, but I'm just telling you what I do and that's a limit order. And what that means is that if the stock hits 46.75 and flies through it, if I didn't have the limit order, I might not get filled and I want to get in it because it's moving, okay. So I give it that cushion because it's moving that it would fill me into the move. Even if I get filled worse at 78, for example, I'm so aggressive in my trades it doesn't happen that often, but it does sometimes, okay, and particularly depending on your sizing. Sometimes when I have a lot of size, when I'm taking a lot of size, I do have a lot of different orders. I do, okay, and then it just fills all the different orders, even if I'm pressing the button with 5,000 shares, for example, I'll have like a million different orders there at different prices and different prices, meaning even within 100s, 1,000s of a penny, okay, because this is all an electronic market. So it's fine. I'm sizing myself for what it is and put the stop and wherever I get filled, but I'm using the number I take to trade to size myself. You don't know exactly what you're going to get filled, but I use that limit order with the three penny, okay. That's just what I do, but there you have it and it's because the stocks are moving and I want to get in and I want to get in and I don't have to chase something and I want to get in aggressively. So that's the scoop. So if you have any questions or didn't understand what I discussed in the previous webinar, feel free to email me at Melissa at the stockswush.com. I'll go back and listen to what I said. I know that I was clear. It's just that I know I talk about a lot of different things at once and I can talk fast very often and I know if you don't know me you're not familiar with my style, I could be hard to follow out of the game, but that's why it's worthwhile coming to trial the trading room with me, coming to other of my webinars, listening to my other videos. I've got to be myself and this is just who I am. I talk on a certain level and that's the level I'm talking on. So I just ask me questions. I have no problem answering as many questions as you want to ask me. I will be glad to do that so people understand. I don't, I can't see what's going on in your mind to know what you're thinking, but just to be clear, reiterate, you're not in $100,000 cash to trade my system. You can trade my system with any amount of money. Okay, any questions email me at Melissa at thestockswitch.com. Have a great night everyone.