 They're never gonna get everyone can hear me here, and I just put the slide up I'm this is I was thinking about this the other day And then we didn't have time to do it, and I did the other lecture yesterday. Let's go through a scenario here If you take a trade and the risk amount is $1,500 And your profits $500 Are you happy or not? So you would on this is this is not it. This is not it. You're not giving me a dissertation This is it. Are you happy or not? Yes, or no journeyman says yes mountain girl says yes. Galahad says no Your answer is no too Okay So we got a lot of different answers If your risk can manage two thousand and your profits three thousand are you happy? Yes, or no? You're not happy with three thousand So you're not happy there Okay, I think Eric's already at back of the IRS Okay, is anybody else happy or not happy journey woman's very happy galley heads happy Susanna's happy risk amount 1750 Losses a thousand. Are you happy or not? Oh, no, that's an easy one. What about the rest of you? Are you happy if you lose a thousand dollars in risk 1750? galley had said no, I Lost that galley. I was gonna say yes Would be used to losing the entire amount Okay, risk amount fifteen hundred and again This is close enough here with these because sometimes it varies when you're taking a trade and it's quick 1500 profit four thousand are you happy now you're happy. Okay. That's a sexy one Eric said he's happy with one thing All right galley says yes, everyone says yes, Susanna says great. I don't think anyone would disagree Risk amount fifteen hundred lost fifteen hundred happy or not happy. No anyone else Galley heads happy with losing fifteen hundred if you risk fifteen hundred Susanna says, okay journey woman says no What's the moral of the story go? What am I trying to get across here? Meaning what or what are you saying? I Know what is the point of this lecture? What do you think is the point of what I'm trying to get across here This is very very basic Just a couple of minutes. We're gonna talk about this. What? Does anyone else want to chime in? What's the point? I'm trying to get across here with this No, I mean nobody else is saying profit to risk galley had saying you're trying to say its The amount of win-or-loss size don't worry be happy Okay The the point is that any trade that you take that you make money you should be happy and People said yeah people said no here People said no, you're not happy if you make $500 you said no, you're not may happy if you make three thousand You actually said you weren't happy if you made three thousand risking to that's one and a half Okay, you said no This is a loss This is a loss This is a profit. This is a profit. This is a profit That's not the point the point is that you should be happy whenever you make money in the market because most people lose So if you can consistently make money or make any money at all how can you feel bad about yourself? You can't you have to be happy when you make money Some of you are some of you are not but I will tell you it is there has become extremely clear to me now because this year in the last In the last three to six months I have taught brand new people that have never traded before and And are are doing better than people that have been training for a while and making more money than them Because they are happy when they are up and they get out and they are exceeding their goals exceeding their expectations Okay, so the bottom line is when you feel good about yourself You will get up and do the right actions when you feel shitty you won't or the chances are you won't? So if you are happy making five hundred dollars, then the next day you get up You'll be happy when you make three thousand you'll be happy to make four thousand you'll be happy when you make a thousand If you get up and you feel shitty when you risk fifteen hundred and you make five hundred dollars Then chances are the next day when you get up and risk two thousand you will knock it out when you're up Three thousand you will try to make four or forty five hundred and you may not be able to and you may lose two or you may lose one You may lose you may go from a winning trade to a losing trade. This is not about trades that actually go Like one red bar and then flip and stuff us out. That's not what I'm talking about here I'm talking about in general trades that have a move Like the move that happened today in zoom Z and the trade completely flipped went over the high went over the high Today in the stock went green if you didn't get out of that and you insisted that you had a had to have Two ours or three ours in that trade today. It did not give it. It didn't give it It didn't go to $17 the entry was 1790 ish or something. It did not go a dollar It did not go there It flipped it went green if you had to make two ours plus in that trade today you lost in the whole trade Do you see? Whatever your risk was Why what about this one here? Huh Here you know what I'm gonna I'm gonna make this even more crazy here. I'm taking this off since the room doesn't say hold on Yeah, I'm gonna make it even more nuts Let's just see how honest you people can be You're gonna give different answers here. I don't even have to quiz you to know that you will What Hold on If you risk $15,000 in your profits $5,000, are you happy? Are you happy if you risk $15,000 you make $5,000. Are you happy? Yes or no? Galli had says no. I'm convinced that we had to never Are you happy? If you have $15,000 risk in the trade you make $5,000 and you're not gonna be happy For real if you wish $20,000 in your profits $30,000. Are you happy? Okay, you're happy with this one, but you weren't risking you versus three you see how If you wish $17,500 and you lose to 10,000 you happy You know what it depends and let me tell you why Because you could have saved yourself from a trade that isn't working right and you could have killed it And you could have lost 17,500 you say holy crap big market gap down the stock gap down This didn't go the way I thought I thought this was gonna work something crazy happened Trump got elected And now I save myself 7,500 Because this thing didn't work like I thought you might actually be happy Losing $10,000 because something did not work right because something crazy happened China whatever Risk amount 15,000 profit 40,000. Are you happy? Risk amount 15,000 lost 15,000. Are you happy now? No, you're not happy Rumi says yes, yes to all yes to all if you had a million dollar account you could take risk like this without a million dollars You don't need a million dollars take risks like this people take risks like this all the time and trades like this and don't a million dollars You could have 250 grand account risk 20 grand option trade of course you could You know what you're doing But the point is though that do you see here if you add a couple common as in a couple zeros You know that it makes it look a lot different and I could add even more zeros and I could add even more commas And here here's another one. I could say what if your risk amount is? I'm gonna go off the charts here now I'm gonna I'm gonna Yeah here Do you want to tell me that if you risk one point five million dollars and you make a half a million dollars You're not gonna be happy with that you would be happy with that Do you know that people do that people do that people take option trades and enrich one point five million dollars And they make a half a million dollars in a day or two days or a week like in that Google trade Do you really honestly not believe me? Yes, that's exactly what happens There are people that are trading Google options that will take sides like this And they will risk this kind of money and they will be in and out with an expiration in a couple of days They will take it on a Monday or take it on a Tuesday and we'll get out on a Wednesday or Thursday Yes, they will they will make 30% of their money and they will never make 30% of their money in a checking account or savings account Or certificate of deposit or anywhere else and if they want to make 30% They could be a hard money lender and then then then then they're really aggressive It's even more risky than the market and they won't see the money in a week They'll see the money in six to twelve months or maybe never if the person doesn't pay them that owes them It's a hard money lender I'm telling you right now you people have to add some commas and zeros because the way that you're looking at things Doesn't make any sense when you start to add up the money You're never going to get to this point that you're risking $1.5 million if you're and to make a half a million if you don't understand this You're never going to get to the point if you want to be wealthy some of you don't care Some of you are doing extremely well. I'm talking about the people that are Back and forth back and forth back and forth not getting it This is 30% of your money and if you have one point five million dollars to risk and you have a hundred million in the bank You can do this and you are very happy and you know what you're doing and you make money You understand and then every once in a while you will risk two million I should and then I didn't even know where I was going with this today But I know in my mind because I think like this in my mind And I've been thinking like this ever since really like last year if you wish two million and make three million Yeah, that's gonna happen every once in a while You know what you're doing because you're gonna get something that runs right up and through the stripe the next day or does something like Baba you're gonna say holy crap You know and you did it and you have that and then you might take a month off And you might take and not take any trades because you're gonna be like gosh that was so amazing and again going back here this is even more show at the losses if you risk one point seven five million dollars and China talks about whatever and the market gaps down and this beautiful fantastic Google It's an uptrend you know or a fails on the earnings or whatever and all of a sudden you get up in the morning And you're like holy crap I'm down a million dollars take it take it all get me out because you saved yourself 750,000 because something happened you didn't expect you can't predict and no one can predict so you save yourself 750 and You might be happy But you lost a million, but there's nothing you could do Okay, gala had I don't I can't I spent a month with you There's nothing more that I can say to try to help you with all of this I just don't know what to say. I Really did the best I can trying to help you with this whole thing about being mr. Perfect with the exits You want to maximize every trade go for it? I can't give you any more advice I just don't know what to say your risk is all over the place You must cut your losses when they don't work half you have to be more consistent with the amount your risk If you want to hold every trade that goes bust or every trade to maximize the profit I don't know how you're gonna be able to calculate that I have no idea because I can't even I can't I could never have predicted. Well, I couldn't never have predicted I said that Google was probably gonna make a new high this week But I didn't know it would be Tuesday or Wednesday or Thursday or Friday as it turns out It was the last day of the option expiration You know so you have targets, but timing of these things is is is very difficult It's very it's much much easier in the day trades to look at them and see how they act in the morning When they start to sell off really fast You can tell then that it's gonna go like when the zoom is he broke I could say this definitely here to 1750 and then you're watching watching watching you're in it You let it break a little bit. Boom. You take it. You then you're like, okay, fine It's backing up What are the chances of it going to 17 as the day goes on less and less and then it flipped F and a sorrow once it broke and it started to look like it was gonna hold in the broke and still broke early Then you say 28 28 since like you got to watch how the stock treats But to be able to predict with exact accuracy to get out at every single trade at the high that's long and every trade That's a short at the low is impossible. And if that's what your objective is then you will fail And there's nothing I can do So the day trades are not different the money management is the same You have to be realistic with what your expectations are and you have to be happy when you get out of every trade With money and that was the point of this and sometimes you will be out You actually get out with a loss and you will you will save yourself You will save yourself from the from a worse loss because you will realize that something happened that was unexpected and that will Happen it does happen. It happens in day trades and it happens in options It happens in the market and this is what is real But it was just as unexpected sometimes when you have something like Baba that you wish 300 bucks and makes $1,000 and that happens too, so you get out, you know Anyways, good lecture here Good good good lecture Listen have a great weekend everyone if you want to retake the class email me If you want to do the class email me at Sunday in my name I spend a little time here with Eric before we go out and both trek out into the snow in in New York and Good lecture good week. Okay All right, have a great day everyone best lecture ever When I start talking about making $500,000 that's a good lecture I guess Maybe I'll have to do this again on the big board. Thanks everybody. Have a good day Did you see the point though? I was trying to make in this did it come across now?