 Okay, can everybody see the slide? Let me know. Welcome. Today, we're going to do something a little bit different. It's going to be a little relaxed lecture here today. I'm going to talk with the PowerPoint, but I'm going to mostly flip over to the charts. So I'm going to be flipping back and forth between charts and my PowerPoint. If you have questions when we go through here today, you can always just write the question in the room. I'll say it out loud. I'm the only person that can see the writings in the room. So welcome. My name is Melissa Armall. I own a company called The Stocks Woosh. And today, I'm going to talk about turning your money around 50-100% daily. And I actually came up with this idea just a couple days ago because we were talking about this in the trading room. And I've been kind of realizing this actually all of 2017 as my accuracy level has been improving, my win ratio, that that is actually the most important thing. Oh, no slides. Bogey doesn't have any slides. Hold on. You should see an orange screen. Does everybody see it? Okay, very good. You know what? I might have to put the pointer on it off every time I go to a chart. That might be what it was. So this is an experiment here because I want to flip back and forth. That's probably why it would happen. Okay. Getting back to what I was saying, you know, the culture of traders is really, I mean, the number one thing, the reason that everybody trades is to make money. I mean, that's absolutely true. Okay. But it is like, it's a confusing mentality for many, many people because in general, people do understand the idea of investing even if you've never invested any money in the stock market. I think most people have had 401ks if you've ever had a job. Most people have had 401ks in their life. So people understand the concept of investing, but trading is a little bit different. And yet it's not, okay? And this is something that, you know, when I go back to the beginning, when I started and the culture that I was around at the beginning, and when I say culture, I mean the people, the people that I talked to, the people at the very beginning, the books I read, you know, everything I was exposed to eight plus years ago, you know, was all about risking it, risking it, risking it, risking it. Now, of course, at that time, I did not have the method that I have today, but over the years, as I've created my method and then started to teach people, it's, it's evolved. Okay. I've evolved. I've evolved as a trader. I'm becoming a better trader. Okay. And as a result, I'm becoming a better teacher. And I think they go hand in hand. But I think it's interesting because a lot of people don't focus on that and they kind of just stay within that, you know, box of whatever they initially learned, but I'm seeing more and more for myself that it's about getting it right and winning more than losing and that whether I hold the train to, you know, make four times the amount I risked or not is not so important, but yet I could. And so that's when we're going to flip to the charts today. Okay. Now, if you have questions, you can email me at Melissa, the stockswish.com, and you can call me at 929-3200 Gap. Right before this lecture here, I was going to talk about reality versus craziness. This whole stuff here in the black, I received a solicitation, some kind of email from a company, and I'm not going to say what company. That you could come to a lecture and take $250 and learn how to make 18 grand in a month. And I actually got the email as I was getting ready for this. And then I plopped this in here. This is a crazy claim to make to any person. And my system and what we're going to talk about today is that when I say 50 to 100%, it means that you would take a certain amount of money. Here, I'm just going to say $300. So you would risk $300. Your expectation would be, your expectation if you risk $300 per trade would be to make between $150 or $300 daily. And your expectation would be that eight out of every ten trades would work, which means that you're making money. Now, that's if you get in and out quickly in the morning for the trades. Could you risk $300 and make $600, $900,000 more? Yes. And we're going to go over some charts here. But I'm telling you, if you want to trade and the fast trades like I do, your expectation should be to flip it around 50% to 100%. Okay. What about expectancy? I'm not writing full sentences here to quality bear. The point I'm trying to make though is that this, this here, this company is saying that you could take $250 and make 18 grand in a month. That is absolutely crazy. And I believe that this is what gives the trading educational industry a bad reputation. I believe it is things like this and claims the places make like this that, that give the industry itself a bad reputation. When I'm saying that you can take a certain amount of money, and I just used $300 as an example there, but we're going to talk about trades here where I risked about a thousand. You know, the thousand dollar risk I'm saying you could look to flip it around to make $500 or $1,000. If you're in the trades in and out quickly, if you want to hold them longer, you can make way more and we will discuss that today, but you have to mesh that then with your personality because I don't do that with every trade. I like to be in and out of my trades quickly in the morning. That's me. That's my personality. Okay. And we'll look at the chart some minute to go over it. But I'm saying to you though, either way, what I'm saying and what I'm doing and what other people are doing in their trading with me, which some people in the trading room do hold the trades longer, I know they do. Because they sometimes email me later and say what they did or tell me the next day. But that's their personality. They hold longer. And some days then they make more. They will take a thousand dollar risk and make three grand or four grand. When I might have only made $950 for something in the morning, but they held the trade to a bigger target. Well, I'm talking about a lot of different things here. I'm kind of jumping around Kuala Bear. I'm talking about two different things. I'm talking about what should you expect if you're going to learn my method? If you want to do what I do, you've got to learn it. In your mind, how much can you afford to risk per trade? And that's the first thing. And see, this is what makes this so egregious because there's nobody in the world that couldn't afford 250 bucks. So this is what I'm saying. $250, everybody has that, that wants to trade. And even if somebody didn't have that, like a bum on the street, he'd find it. He'd pull together $250 if he thought he could make 18 grand in a month. He would find a way, begging on the street 24 hours straight for one week to get that $250 to turn that into $18,000. That's irresponsible. And that's a crazy claim. Mark Mobile is saying, when you say $1,000 a day, do you mean a longer timeframe, like a week? No. I mean in a trade. Now, we just started here. Don't get ahead of me. OK, getting back to what I was saying. I did talk about this in a previous webinar because I saw this about a couple of weeks ago, a month ago, another crazy place that was saying you could make $8,000 with a $1,000 account. Actually, this is less crazy than the previous crazy. So it's less crazy to take $1,000 and make 8 in a month than it is to take $250 and make $18,000 in a month. Either way, totally irresponsible. The reason this is important is not to prove the fact that I am responsible as a professional person, as a business person, as a business owner, as a mentor, as a teacher. That's not the point I'm trying to make here. The point I'm trying to make here is, if in your mind you have been in this culture for months and months and years, like I have been too, OK? Because clearly, I'm not looking to do any more classes or go to any webinars and I get solicited all the time. You can't get off these lists. But the point is though that if in your mind, that's your mental state and that's what's going on in your head and that's the culture you're in, which actually is the culture of the day trading, whatever, group of people that exist on the planet. This is most of what's going on out there. People are making wild claims. The point I'm trying to make to you is not to prove my own responsibility, even though I am responsible. The point is that in your mind, if you have been thinking this and you're part of this culture and you get these same emails too and you're not doing well and you're training or you're thinking about training but you're scared to do it because you get these emails and you're a normal person and you see this and you know this is absolutely ridiculous and a total piece of crap. So in your mind then, when you come along somebody that's telling you something that actually makes sense, which is what I say and do, you don't want, it's still hard for you to believe because you get things like this. You get solicitations like this and like this that therefore then your mental state is that it's all crazy, it's all gambling, nobody can do it, it's impossible. And if you already are trading and you don't have a system or strategy that's as good as mine and you're losing, then it's even worse because then you really do think you can't do it, nobody can do it, it's impossible. Why take Melissa's class? Why even do this thing? But she still keeps trading anyways. So you know, what I'm trying to say is I just want people to like take a step back and look at yourself people and I'm doing this and saying this to help you because when I get stuff like this and I get them all the time and I'm gonna start to pull more of these actually because I usually just delete them all but I'm gonna start to pull more of these about some of these things here and just pull them all together because this is what gives the industry itself a bad name. But I want you to be practical and think if you had 300 bucks and you wanted to use that $300 in a trade for the risk you could make $150 and that's not crazy. You could take $300 and you could make $300 of that $300 in a trade risk in one trade I'm talking about, okay, in a day trade and we're gonna talk with them in a minute at the trades and that's not crazy. How does it come to be more when you risk more, like a thousand bucks or 500 bucks and then guess what? When you do it every day. Now Mark Mobile is saying well what about the days we don't do trades? Why? We didn't do a trade today. I did not do a trade today. That was a good decision Mark Mobile. There wasn't anything to do. The reason my accuracy rate is so high also this year is because I'm not trading the days that they're not good and I actually and I talked about this in the room this morning I step back and say Melissa, don't do anything. Shut it down. Just talk in the room. And I honestly, honestly days when I'm like that when I can feel myself slipping away into myself I do not sign into my platform. I don't have my live platform up. I just have the room up and I talk and I don't go there because I don't want to get sucked into something which there was nothing to get sucked into today. Although we will talk about one stock that somebody did which was which was insane to me but we will talk about it. One of the ticker symbols is somebody did which I didn't call the trade. But anyways the point I'm trying to make here before we get to talk about what I do in the system itself is the practicality of understanding what goes on in your mind. If you've been exposed to the trading culture classes, webinars, open houses, traded yourself, read a book on this stuff you have been exposed to these kinds of claims that are crazy. And if you're a normal person you will know that they're crazy. Now, if you want to believe crazy even if you're normal but you're so badly want to believe crazy because you think your whole world will turn around if this is true. But all the money you've ever lost trading in the market you'll be able to make around in just one trade because effectively listen, this will make it even more crazier. Basically if this was true this means that you could take this means if you wanted to risk $1,000 which would be four times the $250 that you could make $72,000 by doing whatever this person here is going to talk about whatever, six trade setups or something. Seriously? Come on. You know what I'm saying? In a month. So at the point I'm trying to make here is that whatever category you're in you're probably in one of the categories here of somebody that I've talked about. Either you have common sense and you know these things aren't true. Okay. Or you have common sense and you know they're not true but yet there's part of you that wants so badly to believe it that you get sucked into it anyways. Or you really have no common sense at all. You don't understand the market whatsoever. You think of the possibility that this might be true in this class that this person is teaching only costs $1,000 and what the hell for $1,000 if I could if it's worth it what the hell just do it and find out. Do you know what I'm saying? But then what happens is it sucks you into a culture of believing things that are crazy claims and not reality and then you don't act like a normal person when you're making choices in the market and on the live day for your risk and your exits and your entries and your picks and things that you're doing with your money. So the best thing that you can do is to stop believing in crazy claims. Now, if you want to make $18,000 in a month you can. What if you can't afford to risk the kind of money to do that right now? Then you can. Then you trade until you've got the size account that you could risk that, that you can't afford to do it. What if it takes you six months? Big whoop. What if it takes you a year? What if you open up an account with $2,500 and it's going to take you a year to build that account up to a big enough account that you could start to risk $1,000 a day? So what? That's one year still of you trading and making money. One year of you learning. You have another job on the side while you're doing it. You're not losing. You're getting good at the strategy. Your conviction is rising. Your confidence levels up. All of these things matter. All of these things that are non-money related actually are very, very important too. That's the problem too with these other places that are making these claims. It's like a disease. It makes people sick because then they start to believe it. It's like a cancer and then it spreads and it spreads in your mind. It's like a disease that you see then you get sucked into or want to believe or even on the day when you're trading. I think I made my point if I didn't let me know. Mark Mobile is saying they know it's not realistic. You might think that that's the case but the fact is I know that it's not because I talk to people all the time and I was talking to a broker the other day and I said I cannot believe that people actually believe this. Yes, yes, people do. They believe it. They absolutely believe it because she opens up accounts for people. And here's the thing. Actually this is another completely crazy thing. I really got to write an article on this stuff for a blog. I've talked about this before with the penny stocks. I know I've talked about that in a room. People truly believe that they're going to get rich and become millionaires trading penny stocks. That is completely ridiculous. Now, could you actually become wealthy trading stocks like I trade? Hell yeah, you could. Microsoft, Amazon, CMG if you did a put-in at the two-puts I called with size, A&F, cores. I mean real stocks that are worse than things that move on the day. With risk you can bank a lot of money and that is not crazy. But you can't do it unless you're good and you can't do it unless you're taking size in the trades and you can't do any of that until you know what to do. But the penny stock thing is another thing. People think they're going to get super-dipper rich trading penny stocks. Again, I don't go to these things, but I wonder if this is something like this. I wonder if this little webinar thing here is about penny stocks. How could it have to be? It has to be, but this is the kind of thing that just makes people crazy. And I don't want people to go there, okay? Hope springs eternal. Now, here, let's flip to, well actually, I'm going to show you the trade and then I'm going to flip to my live charts and if I lose the screen I may have to take it on and off. The point of today's lecture though, excuse me, is to bring a level of groundedness into our trading, which I'm going to start to do more in my talks and teachings because I think it has to do with getting good. And that's all that matters in the end. It's not about, you know, making 400% or 4Rs or whatever in every trade. Now, this A&F was a short from the Monday. Now, this was the trade that I called in the room, did in the room, which was the entry here and the stop here. And then it dropped. So, this train here had an entry of 1065, stop 1110. Now, this was my exit. Now, just work with me here and I'm going to go back and show you something. So, this is what? This isn't, this is basically an R, okay? I was in a quick trade. Size of the stop was 45 cents, okay? Bottom line is profit 1470. Now, now, does everyone see this? Now, so if the risk was 45 cents and I made a little less than 45 cents, is that a good trade? Yes, it's a good trade. Now, if my share quantity, what are, no, let me just make the point I'm trying to make here first. What if your profit was $147? So, basically, the difference is just the quantity of the shares. Would you say that that's, so say the person took 100 shares. Would you say that's not a good trade? Actually, no, it would be an odd lot so you couldn't do it. Say they took 200 shares. I'm just trying to make the point here. Say they only took 200 shares and whatever they made here, okay? 43 cents. 200 shares, 43 cents. Would you consider that a good trade? Anybody? Let's just see what it is. 43 cents times 200 shares would be 86 bucks. Profit would be $86. Risk on this one for 45 cents would be 90. Mark Wobble says yes, good trade. While Weasel says yes, good trade. John says it's a good trade, too. Qualibur says yes, too. I agree. But probably a lot of people wouldn't seeing that number. Now, let's go over to the chart. Here, I'm going to take this off. Then I'm going to flip it back. Wow, look at this thing. Woo, speaking of it. This fell today. All right, 710, let's go back to the day. Wow, this followed through another day. Can you believe it? So, here was the day. This was A and F. Now, so this was 45 cents. Was the risk? Where did it go? Good trade. You could have held all the way close to 10. Probably could have got out 980-ish. So, with the entry up here, okay. In fact, let's just figure it out because I didn't even figure it out. 1065 minus 980, say it was your exit. Your move in the stock total could have been, could have if you held it almost twice, about 85 cents. Now, what if you had held it all the way down, all the way down, all the way down, all the way down? You held it in the bunch. One of the targets was 950. You know, I did not hold this anywhere near. You could have made a dollar 10, approximately. Again, the risk on this in the trade was 45 cents. So, before I make the point I'm trying to make, does anyone want to guess what I'm trying to say for one thing? So, I did the trade and I made money in the trade and the trade worked. And I got out. Boom, boom. But the trade went on longer. So, I flipped my money around fully, completely. Okay? 100% almost in this first quick one. But I could have flipped around more than two. If I had held it all the way down to 960, 950, could have gotten more than a dollar. Could I have made more money? Yes. Does anyone want to guess what point I'm trying to make here is? No one's writing anything. Can everyone see the chart? Am I talking to myself? Is anyone there? I know I'm not talking to myself. The card in the hand, the longer you hold the trade, the more risk involved. Well, that's not what I'm thinking, but that's true. That's absolutely correct, though. One car guy says you got an R in the hand. Darryl is present. You don't know. You don't know. So, when I do the targets, okay? JD says you're happy with your target. Yeah, when I say... So, I have goals, okay? I have goals. The goals are financial goals. So, the goals are monetary goals. Okay? So, that's the difficulty, like Mark Moble was saying, gosh, you know, if I have a goal to make this much money every day, if we don't trade one day, then my goals are screwed up. No, they're not screwed up. Why? Because one day, you will be in this and it will not have a green bar here. It will just go, do, and you will make way more just by having gotten the trade and it collapsing. So, it all evens out, okay? That's why you don't trade when there isn't anything good. But again, you feel like you need to because you have goals. And what I say to people then is think of your goals as weekly goals or monthly goals because if you and your mind think you've got to have a daily goal and you don't hit it one day because you lose one day, something doesn't work, which happens, or you can't trade one day, which happens like today, then you'll be all screwed up in the head and you'll force to trade what you're not supposed to do. So, think of it then as a bigger picture, weekly, monthly, annually. But anyways, the point I'm trying to make is that you don't know where exactly this is going to back up to before it goes to a bigger number and you never know that in any stock. And I said this yesterday in the morning about Coors, which we're going to talk about, which was yesterday's trade, that the stock will go to $33. But I can't tell you exactly what time it will go there. So, you've got to look at this like a job. If your job is to do the strategy rate the gap, trade only the gaps of rate per the system, do them in the setups, take your risk, put the stock. Get out when your goal is in for the day but starts to go against you unless it's some amazing gap or opens as whooshes or you have the market with you, none of which was the case in the last few days. But anyways, so, you know, your job is done. So, when I take the trade and it's going, going, going and it's at the first target, my job is, and I'm not my goal for the day, my job is done. I did my job and I did my job very well. So, this is where the whole thing about investing and trading becomes a crisscross for people because investors want, investors have this mentality. I'm going to use Amazon because it's, it's just such a good example here. Investors have the mentality that buy and hold and hold on to it forever as long as it's rising. Yeah, that makes sense if you're a long-term investor. I mean, look, if you had gotten out of Amazon, this is absolutely just a great example here but if you had gotten out of Amazon, let's say, what is it, July, July? If you had gotten out of Amazon in July of 2016, man, you would have been regretting it. So, that's, as you see, so this is where the crisscross is when you're investing in day trading. In your mind, people think about the market that they want to hold it longer. They want more, more, more, more, more. They don't look at it like a job. They look at it like that everything looks good. It looks good. That's Galahad's favorite line. But it looks good. Yes, it looks amazing. It looks like the best thing I've ever seen. But you, your day trading is a job and when your job is done, then your job is done. If you, if you were cycling instructor and you taught the 630 class and the equinox in the morning, the class is from 630 to 715. At 715, the class is done. That instructor keeps teaching. Everybody's, everybody's got to get to work. Everyone's leaving. They're teaching the class to no one. No one's there. Their job is done. They're not going to get paid anymore. They're only paid for that 45 minute class. So they can fight themselves if they want and talk to nobody. The job is done. They're supposed to leave. In fact, they have to leave because the next class comes at 730 with a new person. So do you see? So day trading is, whether, whether you're doing it for your job or not as a career, it doesn't matter. You have to think of it like that. And the criss-cross with the stock market and just people in general, even I've been trading for 20 years, in your mind a lot of times, people think like investing. And then they never quite, it never quite gels together. And that's why I'm saying it doesn't matter. There will be days I hold stuff longer, but not as much. And what I realize in the stuff that I even, you know, was around at the very beginning, which I don't think it ever hurt me, but there were times when I definitely know I could have done better if I had thought more like this years ago. That there was, is actually nothing more important than the accuracy. I mean, I've always known that. But there's days when I think, I think I could have risked more in my trades earlier on in my career than I did. Okay. If I had thought like this. Okay. Learn to make a trades, learn how to do it and the money will follow. Yes. What would I base what off of? What car guy? I just talked about a bunch of different stuff. I just saw your question. If you have a winning system that makes money then not knowing exactly how much you're going to make can be a good thing in a good way. Well, that's one way to look at it. One car guy, which thing you're talking about here, A&F or the Amazon or what we're discussing? Anyways, the point of this is that it did go to be more than two Rs. So if I would quantify my system and go out to tell everyone in the world this system makes as many Rs. It really does, but I don't hold all the trades still there and the room isn't even open till noon for you to do the trades. So you, knowing that, if you wanted to, which you could, and I think some people in the room have, although not to the scrutiny that I would have to do it to get my program out there to talk to people about it, but you could track them. You could track them yourself. You people that are here that are students already, you could track them every day. You could start tomorrow, July 13th. Track every trade. Go back and look after four o'clock and see where it went. See how many Rs. it would have been if you had held it to a bigger target, to the second target, to the dream target, to the end of the day. Do it for the rest of the year. Maybe you'd fare better, but for me, when my job is done, it's done and also, I am at less risk. I am at less risk when I'm out fast. I'm familiar with that period. I also know I'm less... My eyes get tired. My brain gets tired. I need to break. I need to step away. And sometimes, when you're sitting in front of that computer and you're staring at it for two, three hours, everything is just like... I mean, everything kind of looks the same or jumbles together or everything looks good and then you kind of lose your edge. See, one of the things that I'm really good at in the morning is seeing things right away so fast. And I really... I mean, that is my thing. To trade on the one-minute chart so quickly and see everything right away and be able to tell exactly what they're going to do. And even in the pre-market in the morning, like, I knew the market would hold today. That was a great call because it wasn't a great gap in the market today and we held. But that's my thing. That's what gives me my edge. Holding trades all day longer and longer for hours and hours. I lose my edge. The longer I'm in trades, I lose my edge. And if I lose my edge going into 12 o'clock noon, then what's the chances of me making more money? There isn't any, okay? So know what you're good at. There's the one gentleman in the room. He's just an older gentleman that's very, very patient and he is okay with that. But he also is in a different time zone. So at noon, for him, it's nine o'clock. He's in Pacific time zone. So it's not late in the day for him. I don't know what time he's in bed because he has to get up early. But, you know, for him, I guess he still feels vibrant, you know, at noon Eastern time because it's nine for him. And he holds the trades longer. But that's his personality. That's not mine. If you want to track him, you can track him. But to tell you that every single solitary trade is going to go to this many units in between 9.30 and 10, I cannot say that what they may own the day or the follow-through continuation like you see here even in this for three days, okay? So you have to decide what type of day trader do you want to be. But if you're holding these longer or even a swing trade, then you're really starting to get into that investor mentality. You want to make more, more, more, you know, hold it short and hold or buy and hold. So what are you? Are you an investor? Are you a day trader? What, what are you? Like, you know what I'm saying? So this again, you, you know, make up your mind what you are. What about an option, Ronj? If you want to do options, you can do options, yes, with my method. But I don't teach you how to do options. You have to know how to take the option. But I could say this is a short, these are the targets, and you could buy a put. In fact, I think somebody did do that on Monday. I'm a short-term early morning trader, yes, one car guy. It does become a job washing and holding all day. And I lose my edge doing that. So I know that's not good for me. What would I base my decisions on if I wanted to hold longer? Excellent. When the market's power trending with the position you're in. Point in fact, what was that day? The day we did JPM. In fact, I got to find JPM here because I don't remember what day that was. In fact, I don't even know who was in June. What day did May? I'm yawning. What day did we do this one here? Oh gosh, look at how this thing has flown after that. Here. Is it here or here? Which one did we do? 517 or 531? No, it must have been 517 because that was on holiday 531. Let's look at the spy. Here, yes. This day here at the market trending down. I read the gap in the morning and I told everybody in the morning sell out of your longs if you're in overnight longs like options. Market's going to power trend down today. Here's a reason why. Here's one and we did do that JPM. So, and I held that long for myself. I did hold that long that day. I held this down and I told you I was going to and I didn't guess what it went even farther. I remember that because it went even more. Don't you remember? I said I'm going to hold it to 85. It went to 84. But to hold it to 85 was a big deal for me because it took a while. It didn't go in 5 minutes. It didn't go in 10. That doesn't think it took over an hour but yep, so there's one what it opens in swooshes. There's another one. There's another reason one car guy. But these are things you don't know unless you can read the market as accurately as me before they open to know it's going to power trend long or short, up or down. The swoosh you wouldn't know till it sets up. Alright, let's get back to the PowerPoint. So what is it to turn around and what is not? We're just talking about this now. I'm going to, I want to talk here about the PowerPoint and then I'll bring up a chart about the one from today that I wanted to talk about. So this concept is an R concept which I do discuss a little bit in the class but I did not create this concept. I'm thinking more and more I just completely get away from it. But, you know, saying that you have a certain amount of money and you're turning that amount of money around is a valid way to explain something where you take a position in a trade. Now, that has nothing to do with the amount of money that you will need to open up an account. But if I'm comparing apples to apples, okay, if you take a risk and a trade of $1,000, your goal every day should be $1,000, okay, to turn around that money 100% from what you risk in the trade itself, okay. What if it doesn't get there? What if it goes to the target and you're up $7,50? Then probably you should get out, okay. It could continue, it could go, you could make more, but there's no guarantees. So that's the thing about the market. If you can predict the direction something's going to go and take the trade in the right direction and be up money right away so quickly and not be down at all, that's great. Just do it. And as you get experience then and get good at taking the trades and getting the gaps and getting the direction right, okay. And if you're in the room with me getting the trades with me, you will be able to increase your size over time so that the money that you make is more without holding if in fact that's what you want to do, okay. But you have to want to do that. Now I'm going to go back through the chart. There was a gap today that I didn't rate and didn't like and would never have done and did not do, as I said I did nothing today. There was somebody in the room in a trial that saw this gap and I guess was desperate to do a trade. It was this. I didn't do this because it was absolutely insanely spready. I don't think I've ever traded this before in my life. I'm not familiar with the stock. Too thin in the morning, too spready, open weird. And actually now that I'm even seeing this here you can see that there's actually ticks in the chart back from a couple days ago. This is a tick. This is a very, very thin stock to trade. Now today had a monster move though. Had plenty of volume did end up going. So the person that did the trade said in the room they did a five minute low. This is not an entry that I do but I'm telling you the person said what they did. So when it broke the low the person shorted the stock. I don't know where they got out of it. Now if you shorted the low here in the five minute under 78, 66 this to me would not be a good trade because the stock would have been like $5. That means that this would have had to go at least $2.50 maybe three to even make 50%. And if it didn't work you would have lost $5 risk and my size also would have been way smaller in something like this with the stock being $5 than a normal stock I would trade like A and F. So I wouldn't have thought it was worth it. This wouldn't have been worth to risk for me and I'm giving you a window into my mind here. I would not have risked $1,000 in this to make $500 even though it was possible. And in fact you could have made that you could have made more but you don't know. And one of the reasons you don't know is lack of volume. Also there's several targets we can go back and look at the chart but the point is this is a trade to me that isn't a good trade to do. It did work though. So we didn't do this today and I don't even know if it would have rated good. Here I can look at the chart but it worked. So you know but that's an example of something that in my mind is not worth doing. No I don't think this would have rated good. Anyways does anyone have any question about anything so far that I'm saying? You have to look what the stock could do. So let's say this bar here it's about two bucks, two and a half. This one here, three bucks or so. So my expectation for this here would be $3. So if my expectation would be $3 that means that if I'm risking five my expectation is that even if this goes all day to the dream target I can't even make 100% that I want to make. So that's not a good trade to me. Did it go farther? Yes. But you don't know. Does that make sense? So that to me isn't a good trade. The good trades are trades that you take that have a high level of probability of working which this did not and I don't even think it would have rated well. The fact that it worked is neither here nor there because I could have lost if I had done the trade and it had failed and I wouldn't have been up as much money as I am now for the week. I'm positive for the week and I've got two more days left. No, this was just somebody in the room in the trial because I said, did anybody do anything today? This person said they did this. But I had looked it in the morning. Some people wanted me to. It had no volume. It had no volume in the pre-market. Well, I lie. It came in six minutes before the open. At 9.24 the volume came into the stock. So, you know, again. It had one bar here at 8.59, 207. See that in the square? That's no volume. You don't even really know if it's gapping. And then six minutes before the open, it had the volume. I could have speed rated it. Again, why? Anyways, you see, you get the point where I'm trying to say. So, this doesn't make sense. Now, cores. Cores was when we talked and talked and talked about and I said I thought we'll go to $33. This was on Tuesday. We reviewed this in the room in the morning. This got to $33 around 1.20 in the afternoon. It got to the target. I was well out by then. So, did it get there? Yes. But it got there later. Okay? So, again, you could have made way more than what you had risked. Flipping it around once in the course. But you would have had to hold it. Not knowing that it would go there or the time it would go there, paying attention to the train. You could have been up in the train. It could back up. You could be down in it and then it could go. Here, let me go back and show you an example. There was the 11th. Again, I can't predict every tick and bar that is going to formulate itself. That's the thing. As it's trading live, I can see it. But before it happens, you don't know. So, anyways, we did this short here. Got the drop. Got out. Had my goal in for the day. Now, let's go back and show you an example. There was the 11th. Again, I can't predict every tick and bar that is going to formulate itself. Now, if you did it here and you got the drop and you didn't get out, what if it backed up? Now, I gave this a very wide stop. In fact, my stop in this was all the way up here at 85. But let's say we shorted it here, which we did, and let's say it dropped and we were up. We had our goal in for the day. You risked a thousand. You're up almost a thousand. Let's say you had your goal in for the day and you had your goal in for the day and now you don't. And now you're not up at all. And now you're down. You're not stopped out yet. You're down, though. So your goal is not in. Now you're down. You're down money. And then it could drop again. What? It could two hours later. So you had your goal in. Then you suffered for two hours. Down. Without your goal in. Still in the trade. Not stopped out. And then it took three hours after one o'clock to go. See, that's the kind of thing that I don't want to do. To make another half of a risk unit. Or one more risk unit. So getting back to the philosophy of what I was saying. It's the, it's the, it's also less stress. Actually, this is incorrect here because it's 28 trades now. But oops. It's, it's also less stress. Okay. When you know that your goal is in and you know it. When you know you're in and you know you're up and then you get out. Then you know you have the money because you're out. So it's less stress. And so I think that one of the things that people struggle with with day trading is they find they, they find it stressful. A lot of people because they don't know what to do. That I don't have a problem with because I know what to do. But it is stressful when you're holding it and you're still in it and you're up and then you're not up if you don't get out and then you're down. So why do that to yourself? When you have a positive trade that flips and goes negative. I'm not talking about things that go and you're up and then they flip around. I mean, you know, every once in a blue moon that something like that might happen like actually that ALDR that ALDR, whenever that was was that because when we do that a couple weeks ago that went move fast was up and then we got stopped in the first trade in that. Anyways, in 28 trades I just went back here and I just averaged this. So this is, these are not exact numbers but on average here you see the flip around. 100% of your risk 200% of your risk, 70% of your risk 150% of your risk on the day. 120% of your risk 400% of your risk. So this is a great day. You risk a thousand bucks to make over four grand. 100% of your risk 100%, 40%, 40%, 80%, 200% Again, this is risking $1,000 per trade. 120% This trade I didn't even have to do. This was a long, I knew I went long I knew I got out early, actually if I had held this I would have made more. I didn't have to do it. I did. I guess I wanted to trade that day. So that was a small one. This lost, this lost 350% 80% This was a lost day here. This was the ALDR was June 27th actually. 28th, 100% flip around. 210% Off this week was 150% and 100%. So again, these are 28 trades. But the point is though, that you in your mind have, getting back to that word your expectation if your expectation is that you're going to take whatever amount you're risking and have a goal of flipping it around 100% every day knowing that some days you might be able to only flip it around 50% you will do better because you won't feel like you didn't get enough out of something hold it too long beat yourself up take too many different other trades in your mind you have to know in your mind that you have a good system which I do and you know that you know that you're going to get a big one soon and if you don't it doesn't matter because you know tomorrow you're probably going to make money so like today there wasn't anything so we'll probably get a good trade tomorrow and guess what if we get up tomorrow and we do something and it loses I don't think it's going to happen let's just say we do say we do a trade tomorrow we're probably going to get a big one it's just you have to know and believe and have the confidence and conviction that the system works and your expectations have to be in line with that the problem is going back around to what I was saying at the beginning people's expectations are so crazy because of the culture and the industry and when you see something like this just go back to the chart and you don't hold it and you say gosh darn it I knew I should have held that sucker she said it was going to 33 and I needed a big one today and I knew I should have held that thing down tomorrow I am holding that thing down and tomorrow you hold the thing down and it doesn't go to the bigger target and you're up your goal for the day and you get stopped out and you lose because it doesn't go to the bigger target do you see then what happens in your mind or you do something where you don't hold this make money and get out of 34 you know make one risk unit one and a half whatever this was one and you then the next day see that this went or manage yourself for not holding it down and then you risk more in tomorrows let's just say your normal risk unit is a thousand you decide to risk two and then the trade fails it stops it doesn't work then you get back all the profit from the previous day and then you're flat you're not even up for the week or no you're down you're down a thousand so you know the mindset of the reality versus crazy again you have to determine what kind of trader you want to be I know what kind of trader I am and I know what I'm good at that's what I do you also have to determine what your risk is going to be and if you cannot afford to risk a thousand dollars that's okay your confidence will increase by doing a profitable system with me day after day after day after day after day after day after day after day to be able to take more risk later at some point whenever that is to be able to make this kind of money that could be in one week, it could be in one month it could be in three months I don't know you have to build that confidence in yourself and a lot of people are not confident in themselves because the culture of the day trading culture is just rampant with these crazy talks of people making these crazy claims okay people say everybody loses which a lot of people do which is true and there's too much crossover between investing in day trading that is in people's heads that a lot of people just never you know they never come to terms with the differences which there is differences there's real real differences does anyone have any questions or comments about anything we were talking about here today it was a good lecture so if you're interested in my system and if you want to be a career trader which does not mean that you're trading until four o'clock it just means you're trading in the morning great talk about that you can reach out to me if you want to learn my method my class is this weekend it's July 15th and 16th if you would like a referral to a broker you can email me you can go to a prop place or retail place it's two different places you can trade one has ten to one margin okay my class is called the golden gap course it's a course that teaches a 26 point rating system and that's how I determine like on days like today there wasn't anything that met the criteria and on days like Monday the day and F was a really good gap I think it rated 21 points so you will learn all the entries in the class you will learn where to put the stops you will learn the targets you will learn the stocks whoosh which is the trade I do you will learn the 26 points which really tells you when you actually can short something or go long if it's a bullish gap like the market was today and you will learn how to read charts you will learn technical analysis in a very unique way because I absolutely do read charts extremely well and unique and I've continually been calling this market higher and I've been continually right I mean we had a very bullish move today in the market and it's going to follow through by the way so the checklist that I do in the morning is what helps me determine and predict what stock I want to do and then what direction I want to take it based on the rating or if I want to do it at all and that's invaluable but you also should have goals and you have a job to do as a day trader when you do the job you're done and when you're done you're done thank you sweet Melissa I appreciate your time oh thank you you're welcome doggy anyone else have any questions think about what I said about this idea about conviction so if you are talking to other traders and your friends with other traders and you know other people you know a lot of people have very negative attitudes about the market and trading and day trading and all of these things you really don't want to talk to those people okay it's not going to help you it's okay to call a friend if you have a bad day and talk to them but in general talking to other people in that culture where they have these absolutely crazy expectations and believe systems it's not going to help you be successful I actually don't talk to anybody at all really and when someone tries to talk to me I completely black out everything that they say to the point that people don't even want to talk to me anymore about things I think because I know I'm not going to listen to anything they say I'm talking about trader friends anyways my class is called the cold and gap course it will teach you how to make money in the market and it will teach you how to get conviction in the market's ability to pay you which again it can but you're not going to take $250 at make $18,000 in a month no way you will learn how to read charts correctly you will learn how to play gaps because that's what I do and if you want to be in the live trading room with me you will get the exact entry and then the stop and then I will tell you where I'm getting out if you don't want to get out in 5 minutes 10 minutes 15 minutes with me the first move and some of them will go longer but I'm telling you you take a chance then you have to determine what kind of trader you are if you're very patient and can hold longer great you will be able to turn your money around more than 50% more than 100% on many many days but some days you will be up you're going for the day at 100% flip around and some days then you will lose and I don't want to do that so know that if you decide to hold to bigger numbers so the trading room is a good support system I'm doing an open house this week if you want to come last two days or Thursday and Friday you would come in this room no password for the trading room so you can learn how to trade it's not impossible you can do it and you can make money in the market with my system if you're interested the class is a full two day course on how to strategically find pick and play stocks at our professional bearish gaps the class is online so you can be anywhere from 9am to 5pm cost of the class is $4,999 email me if you want to sign up for registration papers the class is online I'm also teaching a class in August called the trends course if you're interested this is $9.99 this doesn't teach you how to day trade but this will teach you how to read long-term trends in day charts ok if you want to do swing trades or even options trades and if you sign up for both you save $500 so you do the gap class this weekend and the trends class in August I was running a July 4 special through Sunday I extended it this week because some people were away and I was to if you want to sign up by actually Friday you have to sign up by Friday for the class this weekend you would get the entire rest of the year 2017 free in the trading room ok if you want to do it with the class this weekend this is a really good deal people and you would get all my calls and trades baller bear says talking to non-trading acquaintances friends and family about trading can be rather draining I don't think there's any reason really to be talking about trading at all unless you want to go on TV if you want to go on TV and talk about the stock market talk about it otherwise when your day is done and you shut it down whether you win or lose or have a good day or bad day I don't think there's any reason to talk about it when you talk about trading in the market and the stocks and we look at things every morning from whenever I get on the mic 9 o'clock 9.15 to whenever I get off the mic 10.15.10.30 I'm talking to you right now for an hour the nice thing about the mark I'll say this one last thing let everybody go the nice thing about this thing if you're going to do it as a career even again if you're only just doing it in the morning part of time the money meaning you don't have to do another job it doesn't control my life it doesn't it did control my life when I was trying to figure it out that is true but actually when I go back and think about it it was a tie because it was working full time so during the period when I was developing my system for three years and it did control my life but so did my job as a mortgage broker too so it was like 50-50 so you know I don't think it's healthy in fact I know this from doing this with other you know a long long time ago when I was doing mortgages excuse me my mortgage business controlled my life it's not healthy don't be like that step away, study one afternoon a week two afternoons a week or something you know I think it is good to have extra curricular activities having a business, doing something on the side having kids, having a spouse doing whatever my business has actually been very helpful for my trading because I have so many things that I am working on projects and stuff for the business that I find fun and interesting even though it's time out of my life but it helps take it away from me I don't have to be like looking at charts all day long and I think one of the reasons that I've been trading so well as the years go on is that I don't I step away I haven't looked at the market here I don't know how it closed today I'm not going to look at it I looked at ANF we talked about cores, we talked about MSN I'm not going to look at anything tonight just give your mind that 24 hours that's the other thing too I really really think in fact I know because some days when I've traded I'll say this one, the other thing I'll really go some days when I have traded in the afternoon because I didn't have a good morning and there's days that I've done that where I've lost in the morning and been pissed off and didn't want to take a loss and saw something in later and I said gosh darn it I'm going to make money today and then I do something later and I have to take it later in the afternoon I'm telling you those days I am exhausted and I'm not a sharp the next day in the morning even though my day ended at 4 you would think well from 4 to 9.30 that's like 12 hours plus no I'm not a sharp so one of the reasons I'm so sharp that I could say nothing today or ANF we're doing it perfect let's go one of the reasons I'm like that is because I give myself 24 hours it's like if you were going to run a marathon do you think that she would have a better chance winning the marathon being the not even the marathon now that's a bad example sprint let's say you were sprinting for the Olympic gold medal Monday morning at 9.30 you need 24 hours to rest and you've got another race then Tuesday morning at 9.30 you have a race of Monday morning at 9.30 and Monday afternoon at noon and Monday night at 5 and then Tuesday morning at 9.30 you're going to be dead by Tuesday morning chances of you having all gold medals and all those is very small so do you see what I'm saying so give yourself that break in the case of trading it's your mind not your physical body but you know a lot of this is physical too because you have to be relaxed but still alert you can't be so hyped up that you jump the gun and take the trades and don't think straight it's a fine fine line you've got to be aware and alert thinking but relaxed have a good night everyone have a great night if you want to come to the trading room open house you can tomorrow if you're interested in signing up for the gap class email me I will send you the papers tonight and I try to get everything back to me as soon as you can by tonight tomorrow morning this is a great deal to have the trading room free for the rest of the year and a lot of exciting things coming up very good have a good night everyone you're welcome thanks Green Maverick excellent lecture thank you