 Okay, can everybody hear me? And can you see the slide? You should see a slide. That's a picture of New York with the background. Everybody got it? You can't? I can try it one more time. Hold on. Got it now? Again, to type, you have to go down and pick my name. See it? Okay, we lost somebody. Hopefully they'll come back. Alright, so we're starting a little bit later today. That's fine. I pre-planned to talk about just some general things today. And then we can bring up some charts here when we're done with the things that I prepared in the PowerPoint. But you can't see it? Okay, great. If people come in late, I'll let them in as well. So for those of you who don't know who I am, my name is Melissa Armel. I own my own company called The Stock Swash. I've been trading for almost 15 years. So this will be 15 years. 2023 I've been trading seems like a long time. And it's funny. I was just having a conversation with somebody about this earlier today. I don't think I've ever lived through a recession. So I think we're in a recession now. You know, it may not reflect for people actually state that in the news and everything for another two to three months. But I think we are. So in this type of environment, everyone's looking to make as much money as possible. Why? Because things cost a lot of money. Prices have gone up. We're in an inflationary environment. And also interest rates have gone up. So anything that you buy, if you want to buy a car, if you want to buy a home, especially large purchases, it really can affect that. Not only the payments, but really what you can qualify. You know, so I think that this is a time for people to really consider what they're doing with their money and where they're putting their money to best use. So we're going to talk a little bit today about really earning 20,000 a month. But I use that number. I could have used. I could have used a million different numbers. But I use that number because on average, there's 20 days, 20 trading days in a month. You know, barring holidays and things like that. I trade the U.S. stock market, which is open Monday, Tuesday, Wednesday, Thursday, Friday. And the market is open 9.30 to 4. But I usually only trade in the morning beginning part of the day in and out. That's the time of the day that I focus on. And I think it's very important to chunk it out. That's what I say. And what do I mean by that? I mean, get in, get out, get in, get out, book the money. Okay. When I first started trading, I didn't understand how important it was to book the money quickly. I just didn't understand that. And then I would end up trading all day long and then give back the money I made in the morning later in the day. That was a disaster for me. It was a tough, tough lesson for me to learn. And then I ended up just starting to change my life program where I used to exercise in the morning and then trade. And then I switched and I said, no, I'm going to trade and then I'll leave the house and exercise at like 11 o'clock. So I knew that I'd be leaving the house to exercise every day. Like I forced myself the discipline to leave because I wanted to trade all day. And I was just giving money back for the market or to the market. So trading really is about just getting in, getting that move and getting out and done. And people said, well, how can you make more money? How can you ever make more money? How can you ever make more than that? Well, you get better, you grow your account and you risk more. It's just as simple as that. And you can do day trades and options. Now today we're going to talk specifically about day trades because we're going to talk about margin and buying power and things like that. But either way, same philosophy, even if you're doing options is the idea where you have a set goal. It is a dollar and cents goal, a financial goal. And if you want to make more, say you're achieving that goal, you're making that goal, you're earning $20,000 a month. And if you want to make more, you want to earn more, well then you can increase your risk. Okay. Hold on one second. Let me just let this person in. So again, it's the idea that you increase your risk. Okay. So if you have any questions, we're going along today. You can email me at Melissa at thestockswitch.com. You can also call me at 929-3200 Gap. You can follow me on Twitter, Facebook, YouTube or Skype as well. And I think everybody knows my email or how to get in touch with me. But again, we're going to learn some stuff today. I know that may be new for some of you here. Some of you I recognize I've seen you before. And I think, you know, learning is fun. It's fun for me to learn new things too. I don't think you ever get to an age, no matter how many years you've been on the planet Earth, that learning stops being fun. I don't know why people think learning or doing classes is a drag. It's not a drag. It's fun. I'm living in a new neighborhood now and I'm learning the ropes of the new neighborhood. And I'm exploring, you know. So learning is fun no matter what you do in life. And it keeps you sharp. It keeps life interesting. We don't want to be bored. Boring is bad. So getting back to what I was saying, information, okay, is the key to your success. There's really no shortcut to making it. You know, everybody wants to just run out and make all this money all at once, okay. But the reality is that sometimes it takes time. You got to learn it. But again, learning should be fun. It shouldn't be like, uh, you know, it's a process. You go, you train, you learn it, you do it, you come back, you ask questions. And again, there really is no shortcut. So I participate in webinars where I go with a group. It's like a whole day thing, a whole week thing. I do them all the time when I get asked to do them. And then I sometimes hear the end of people's speeches like right before me. And I hear people saying, you know, you can do this, you can do this, you can do that. We're talking today about making a lot of money, but I'm not saying it's going to happen like that. Okay, you have to learn how to do it. Now, if you're fast on the draw and you're good at learning and you can risk the right amount of money to make this kind of money. Yeah, you can do it quickly, but it shouldn't be your goal. You know, your goal should be to get good at it, to learn it and get good so you can have the consistency that you can have the longevity of doing this for a long time. I've been doing this for 15 years. You know, and if I had anything to do over, if I could go back in time, I would have risk less money when I started trading than I did. Because I didn't think it was going to take me a long time. I figured I'm really smart. I could do it really, really quick. I figured I was going to teach myself how to trade in three to six months, six months at the most, at the longest. And I was wrong and I risked a lot of money very early on. And then I cut my risk back until I figured out the system that of course I teach today. But I have a class and those of you that are familiar with my class, I do once a month and I charge seven grand for that class. Now, you know, everybody is always like, well, I want to make the money back to the class. How long can I take it to do it a day, a week, a trade? How long a month? It's up to you. It depends how much you risk. And that really shouldn't be your priority. Of course, everyone's so worried about that. Again, focus on the information, focus on the learning process of it. Because if you get it, if you understand it, if you're doing it and you're doing well and you're following me, then the money will come. Whether it's fast or quick, according to what you think it will come and you're on the right path. And that's what's really, really important. Because when you're on the path where you're losing all the time, that sucks, you know, and you don't know when you're going to get off that path. And that's problematic. So let's talk about some goals here. So if your goal is to make 20 grand a month and there are approximately four weeks in a month. Again, there are holidays and things like that, like the markets closed for Good Friday next week. Then your weekly goal just on average is what? $5,000 a week. So say, okay, fine. And I think it's good to look at it like that. So on average, you're looking to make what? $1,000 a day. Now, you may have a day where you don't trade. But on average, I think it's good to look at it on a weekly basis. Now with a one-to-one turnaround of your cash, you're going to risk $1,000, okay? $1,000 a day or $1,000 a trade. With a one-to-one, you would need to risk a minimum of $1,000 to make $1,000. Are you with me? Now that does not mean a thousand in buying power margin. And we're going to talk about that a little bit here. It means you take the trade, you put in the stock, if the trade gets stopped out, boom. You lose a thousand, that's it. Now I do use stocks. For those of you that have been in the live trading room, you understand. I call the entry, I call the stop. You put the stop in, it's a hard stop. I call it a hard stop, it's a limit order stop. I lose in trades if it stops me out. But it's better than having an unlimited risk, okay? Again, if you have any questions, plop them in the room. But this is an average say, oh, you're like, okay, if I short the stock at, you know, $99,000, and I'm just giving you the pennies. And you put a stop at 50, and we're talking about shorting here. Say it's the same dollar range or whatever. So they'll be about 50 cents, 51 cents if you want to be exact. Okay. So if you get stopped out at 50 and you size yourself with a thousand dollar risk, how many shares would you be able to take? Again, we're not going to talk about buying power yet or margin yet. But how many shares would you need to take? 50 cents, anybody know? And I'm just roughing it out at 50 cents, even though I said 99. Anybody know how to figure that out? If you're willing to risk a thousand dollars, how many shares can you take with a 50 cent stop? Boom, somebody, anybody. Vincent, you signed up for the class already, haven't done it yet? What do you think? How many shares? We're not talking about options, shares. There, Don got it, 2,000, 2,000. So 50 cents times 2,000 shares, if we're talking about an equity trade. An equity trade here on margin, which we're going to talk about in a minute. If you got stopped, you'd lose a thousand. If it went on to work, you're going to make money. We should talk about in a minute. So if it went, boom, and you risk 50 cents, and you were able to take 2,000 shares, guess what? If it drops, pretend you're shorting, but you know I like to short if you've ever heard me talk before. If it drops 50 cents, what are you going to be up? You're going to be up a thousand. Woo, and you can get out. Because that's your goal for the day, you made it. Bing, bam, boom. So really, all you need is one of those a day. It's not that difficult when you think about it. If you break it down and break it down and chunk it out. Now, how are you going to achieve these real results? And you say, well, you make it sound so easy. It's the pick. It's finding the right pick that you're going to get that exactitude, that you're going to get that drop, that you're going to be able to take it, put the stop, that the stop's going to hold, not ding you out, okay? And then go in your favor, which in this case, again, would be a short. So it would have to go down. If you shorted something at 99, you'd want it to go to, and I'll just make up a number here, say the stock cost $20 and you shorted at 2099, you'd want it to go to what 2049 for 50 cents. Is everybody with me? And again, I'll bring up charts in a minute here, but I just want to explain this in this wording. Now, with a 50% turnaround, say I don't even need one-to-one. This market's tricky, it's choppy, it's in a range. Even today, look at today. You're like, oh, 50% is good. I'll take 50, I'll take a half. So you say, okay, fine. I still want to make a thousand. I'm still trying to make a thousand. I'm going to risk $2,000 a day. And I'm going to be happy with a thousand right now. This market's choppy. It's back and forth. I'll take half. So if you take 2,000 shares, or, you know, you'd have more. Do you follow me? Let me see if I can pull up a chart here. Let me see if I can pull up. I'm trying to think. I'm going to show you an example of a chart in a minute, but I want to get through this. So if your goal is to make $1,000 a day, then what kind of move are you looking for in a chart? Well, we just talked about the 50 cents. So 50 cents move, you need 2,000 shares. A dollar move, you need 1,000 shares. So like today we did, we did Baidu. We actually had a great exit in Baidu. Baidu reversed. We got out of Baidu early. We had almost a little bit of exit in Baidu. We did an equity trade in that. And we got it and got out. So, you know, and I was happy, happy with a dollar in Baidu. Now in good times, when the market is going crazy, when the market is on a map or you've got the market with you, whatever, Baidu might go $2, $3, $5 on a day, but not in this environment. So again, if you're honed in on your own personal goals that you know, you know, you can't stop trading when the market's shopping. You can't stop spending money in a recession, you know. You can't stop borrowing when interest rates go up. So you have to find a way to make things work and adjust in an environment, in any environment as things go along. So having your goals and knowing what your goals are really, really, really, really helps you because then you won't get so, I don't want to say piggy, but if you're like, well, I'd normally trade Baidu when I'd short Baidu and this is like, you know, $1 out of this, but this is only moved 50 cents today. No, it's money. It's cash. It's the idea of hitting wins. It's the idea of green. And again, like I said earlier, chunking it out. So you can take any goal amount and figure out your dollar goal. Got to figure out your dollar goal first. Could be less than 1,000 a day. Could be more. And then you figure out the amount of shares you need to stock how you get the exact point of getting that move to get the 50 cents, to get the dollar. You have to know what stock to look at. You got to get the pick right. You got to get the timing right. You got to get the entry. Okay. And this is all stuff I teach in the class, but I'm just going over some basics here today. Now, I'm going to use this as an example here because we're going to talk about margin because this was, this was J, this is JPM. We did this back March night. It feels like a long time ago. I wouldn't say this is pricing, but it was over $100 a share. Okay. And I did have a good amount of size in this, but I am going to go over two examples, one for advanced trader, one for a beginner, just to show you the difference even of the cost of a position at something that's over $100 price point. Okay. And again, any questions you go down to two, individual user, so for those of you that don't know what I do, each day I'm trying to find the best thing to do. I told you we divide it today, we got in, got out, it worked. Your goal every day is to make money. That's it. It's trading is you get in, get out, you make money. This is a long-term investing. You want to do that. That's fine. That's not what day trading is. Day trading, also, you needed a margin account to do that. So what I'm looking for mostly is short. Sometimes we go long, sometimes we have a gap. Stop close to your gap down. Again, it's a couple of weeks ago when all the banking stuff was happening. The reason for the gap, we're not going to go over here. But it did have a reason and it fell off the planet. Actually, I could have held this even longer. So this depicts what? Selling and shorts. So again, you say, oh, well, you say, I just want to make a dollar. Well, this went crazy birds. $6 plus. Now in bar here, really big bar in JPM. So you got way more than a dollar. If you wanted to hold it, you could have held it. But again, this would have made your goal for the day completely. Again, if you were looking for 50 cents or a dollar, I think $2 is a lot to look for even in stocks that would normally go like that in this market. But sometimes you can get them. Now this happened to go in our favor. It did go big. Again, you don't have to kill a trade. If it's going, you do have to watch it because once you get to the point where you're up your goal for the day, you need to watch it to just take it out and book the money as soon as you can. Remember, it's never over to the fat ladies. Things you could be up in a trade it can reverse against you. I mean, that's happened to me actually this year in 2023 and then lost in the trade. That's why, you know, I've adjusted here where I say, you know what, we're in a tricky market where it is in a range and this could last the entire year. I hope it doesn't. It's a lot more fun to take something every single day and get a two, three, four, five dollar move. But right now this market is trying to figure itself out and it hasn't done it yet. Getting back to this trade, this is an advanced trader risk. Cost is 135, 35. Risk was 3000. Now this is a lot of money to risk per trade. Now what does this mean? If it had stopped, that's what you would have lost. Maybe a little bit more if it pushed through the stop. But you basically would have lost this. It would have filled you where you put it. This JPM has lots and lots and lots and lots of volume. Now I got out of this here, I kept going. I think it broke 131. We can look at it later. Profit was 14,600. That's a huge trade. Something like this is basically your goal for almost a week. Again, you don't have to kill a trader if it's going in your favor. But if in your mind you're like, okay, 135-ish, I'm looking for 134. You can watch it when it gets to 134 if it keeps going. Now it's 134. Now it's 133. Now it's 132. I mean, at some point you have to exit the trade and get out. And that's what I did, even though this kept going. You have to get out of it at some point. Now what if you had a smaller risk, 2,000 shares, $1,500 risk? Again, you put the stop in and it would have stopped you out. 7,300. That's a huge trade with a $1,500 risk. Again, the bar was big. The market was going with it. It fell a lot. You don't have to kill something if it's still going. But you do have to have daily goals where you're looking in your mind. You're like, okay, I just got in this. I'm looking for 134. 134. 134. And then it keeps going. You're like, okay, now 133. 133. And again, I'm calling the exits in the room, but you know what I mean. Now let's talk about margin or buying power here because I was mentioning this earlier for the point I was trying to make. So let's use JPM as an example. Again, this isn't a crazy expensive stock, so it's not cheap. Cost per share, 135. 35. If you took it right there, boom. So 1,000 shares would cost you in buying power, what? 135,000, $350. And I'm just going to use this example here of 1,000 shares. If you took 500 shares, you would need how much in buying power? 67,675. You're like, oh my gosh, I need 135,000 dollars in an account to take this trade even with 1,000 shares. Melissa, I don't have that much money to date trade. Guess what? Every single trader that trains, even professional traders, big traders, even hedge funds. You've seen that now how that's been a problem for some, for some funds with what has happened in recent weeks. But you have an account, if you have a retail account, you will get a 4 to 1 margin. So you do not need the full cash equivalent. So for example, this example here, you would need $33,837 in change to take on 4 to 1 margin this position here with 1,000 shares. Now, a retail broker gives you 4 to 1 on a margin account, which means you can take a trade and get in, get out as much as you want. Again, do not get confused. This is not an option. Now, if you don't have 33,000, you could have bought for example, 10 contracts of the JPM put which is the equivalent of 1,000 shares, which would have been a lot cheaper as far as the cash you would have needed to take it. So I like doing both. Today we're talking about day trades just so you can understand it for this specific lecture though. Now, if you want to do 500 shares at a retail broker, this is again JPM at a cost of $135.35 $16,918.25. Now, the thing is though at a retail broker you have a minimum of 25,000 minimum to get a margin account to be in and out as much as you want. Now, there are other alternatives. There is something called a prop account. You can go to a proprietary day trading firm. They have different requirements and different rules. In that sense you can get 10 to 1 margin. They usually require about 5,000 to open up an account. So your buying power would be what? 50,000 with a $5,000 account. That would not be CIPIC insured. Most retail brokers are CIPIC insured. CIPIC insured is not FDIC insured though. And again, if you don't know anything about this you can Google it. Everybody should know everything about where your money is at this point. First of all you should have always known that. But if you never paid attention to those things before 2023 you need to now. So you need to read up on all those things where you have cash and where you have money and where you have investments and understand the risk. Everybody with me? The FDIC is the 250,000. And again one of the reasons the market fell a million times it fell in the last few weeks was when Yellen did not come out and explicitly say that they were going to basically guarantee all deposits at all banks. She did not say that people thought she was going to say that and she didn't say that and that is what they did for Silicon Valley bank but she didn't come out and change the rules with the FDIC. Okay, let me bring up the hold on I'm just hold on here just one second I want to bring up the charts here. Okay, can you see my I moved it over I took the PowerPoint off here because I want to show you what we did today. Can everybody see Baidu? So again this is a this was a day trade it's over but this was a day trade we did on margin. I did not call an option in this I'm glad I didn't because it didn't it didn't fall through here today. Okay, can everybody see this is Baidu this is the one minute chart of Baidu. So anyways, getting back to what I was saying say you have a goal to yourself it's $500 a day we're talking about $20,000 a month we could talk about $50,000 a month it's, you know, again you have to have the margin to take positions in in higher price stocks like this so you might say well I can risk $3,000 a trade I've got the cash but I don't have the buying power to take that position right now Melissa then okay fine then you take what you can you know whenever I'm looking at expensive stocks when I'm shorting the market market's price right now if I'm doing a margin trade in the spot or the cues or anything like that I always say what's the maximum amount I can take you know you need to know those types of things it's important anyways, getting back to this we did a nice trade in this so here was the gap stock closed here the night before at $156.26 boom open here in the morning at $152.75 okay today was Monday the 27th 9.30 in the morning so this did this here then it rallied then I waited for the confirmation we got in it it's like around here got the drop got the drop boom so you couldn't get out of it in this first drop in and out you could have held a little bit more in and out but that's it so again if you're I'm just gonna make up a number here so it's easy in your head even though we did this right around here so $152.75 you're like okay $0.75 that's good that's all I want that's all I want $0.75 or you're like okay I want to get a dollar so I got a dollar out of this today I was like okay $151.75 $151.75 came down in here it's close enough did it get the dollar yes it did right in here it's not as a bug look everybody see that so again okay when you have goals it's not impossible it's certainly not impossible you know to of the idea of making those goals and achieving those goals realistically if you are very focused and honed in on the amount of money you're risking and the turnover you want in the position size that is your goal now it has to coordinate with the stop now I was using Baidu because we did it today that's the Baidu today it's like basically a nothing burger we did the right thing getting in and out today but the market was a nothing burger today too now like I said earlier in a normal move for Baidu this bar from tip to tail is like eight bucks I had no expectation of that today and because of the choppiness in the market I've you know again makeshifted what my expectations are for certain days when I know it's going to be choppy so we can still trade and still make money you know not not holding to a piggy target you just can't do that every day and you cannot do that in this market I know people are getting chopped up because they're doing that these are these are interesting times but anyways in a good Baidu gap a fabulous Baidu gap you would get something like this okay so you say okay gotta make money today I have goals gotta get gotta meet my goals how am I going to make this work so you you become a little more nimbly now let me think of something that's cheap give me a give me a stock that's cheap that's like a BA essay you have to know whatever stock you're looking for also if you can even get the move that you would want even to get like you can't take a stock and say okay I'm going to get a dollar out of this if it can't even go a dollar no this isn't a good example yes somebody give me a cheap stock if you can think of one oh I know well this is a bad example because it's a penny stock now but I'll look at JC Penney Macy's I can look at that too oh JC Penney is this not traded anymore JC Penney's gone but I didn't even know that that's how long it's been since I've traded JC Penney Macy's Macy's can still go a dollar I think but let's look Macy's can still go a dollar ASAN I'm trying well this can still go a dollar too I was trying to think of something that was so cheap that couldn't even go a buck like something maybe that's like under five dollar price point or three dollar price point or maybe even seven seven dollar price point so something like that you have to know like okay this stock can't even go a dollar on its biggest days so then you adjust you say well then I'm looking for fifty cents you know then I'm looking for this amount and you adjust accordingly there was one I looked at earlier today dish dish I looked at this this morning and I knew this had basically no target now let me look here now this did go a dollar here but for the most part this is like crap like you'll be like oh my gosh fifty cents would be like a good good fabulous move in this if you look at the bars you know what I mean even though there's a few in here that are a dollar like if we had done this today which we didn't let's see where it did my gosh it was like twenty five cents thirty cents barely look day before Friday again we didn't do it Friday I've been just showing here tip to tail like thirty cents whatever so you also have to know the stock to know you know I'm not going to get a dollar out of this um a KTS never heard of this I don't know what this is this doesn't even look like it moves but this moves like five cents it looks like wow what is this thing okay this moved ten cents today so again I probably wouldn't even trade this to be honest with you this is like not even worth trading UNG like I'd fall asleep trading that basically UNG so this is yeah so this is like ugh it's like not even thirty cents let's look at the big bar not a dollar so like fifty cents in this UNG would be a huge move you know what I mean so you would just again accordingly you say well then why wouldn't you always do things that move big Melissa because it may not be a good gap so again for those of you that don't know what I do I'm looking at the stocks the gap and then I rate the gap using my twenty six point rating system to determine if I think it is high odds that it's going to fall or rally if I want to go long and I'm looking then to short it if it's gapping down and rates well or go long it if it gaps up and rates well but we usually do the short side which is why I'm mostly short so again we're living in this type of environment it's a good eBay here this was a nice short we did a while back we're living in type of environment where the market's been so chopping that you really do need to chunk it out if you're day trading and if you're swing trading you know you're probably really struggling because you're just not getting a follow-through and again options you have to pick the right things too now you can scalp options if you want if you're worried about the chop you could chunk it out with options as well or you could be very very selective very very selective with options to do the momentum moves and you gotta read the market right if you're doing that as well you gotta get the market direction right in the timing of the tip we did this eBay back here that was a long time ago actually 223 it was more than a month ago now any other questions about anything I said here I was gonna say something else and I just forgot I pulled the market so any other questions about anything I just was talking about buying power, margin having goals anything anybody wants to answer or talk about before I talk about the market here any questions about the class how do I decide between shorting and buying a put but first of all I'm always looking at doing the short unless it's so crazy crazy crazy crazy crazy crazy expensive like CMG or something where I'm probably not gonna do a margin trade in it which is better to do an option in it years ago I wasn't really doing margin trades all the time in Google and Amazon and then the stock split we were doing puts or calls in those we were doing options but the stock split and now they're very easy to day trade so it depends on the price now why might I not do an option in something because first of all it may not even have an option in it second of all because not everything does it may not have any volume in the option stream and then I don't want to do it either okay or third like the buy do today I don't think buy do is gonna have any follow through to the downside so I'm not gonna do a call on buy do we shorted it, I shorted the day trade in and out I did no new options today buy do I didn't think would follow through at least not in the next week therefore I'm not gonna do an option in buy do could you theoretically have made money in buy do doing an option, doing a put today, buying and getting out quickly yes but you really would have had to scalp it and I'm sure there's people in the room in fact I know there's people in the room that are doing that I tend to trade options though with momentum where I'm trying to get a move a bigger move than buy do would have had today because remember it's not penny for penny as far as the option cost and the move in the option versus the day trade because of something called you know time value actually let's just let me just go back to the buy do here before we talk about this to show you what I mean like say you did the buy do today and I didn't even look at what this cost but we got basically the dollar I wanted out of this you would have got in and got out so say you shorted it at $152.80 and you got out at $151.80 Bing bang boom, you're done you're done in 10 minutes, you're done by 10 o'clock, you're done fact Vincent I think you tried to sign in the room we already done now what if you bought a put a put in buy do which I did not call I don't know what it would have cost well let's just make it up say it would have cost two bucks or something say you would have done a put that expired Friday to today's Monday wouldn't have done any longer than that if you wanted to get out of in here and you paid $2 and I'm just making this up understand knowing options as many years as I've been doing them it might have been up like $2.15 I don't know maybe $2.20 or something so like I'm usually not risking $2 and making $0.20 in a put that expires in a week do you know what I mean it's one thing if I'm still in it it's the last day and I'm up $0.20 I'll get out I'm not gonna let it go to nothing but like I'm not like when I do an option I'm like boom and I take it like to just get out in five minutes for $0.20 I'm not doing that but there are people that are in the room that I'm sure are doing that because they don't have margin accounts and yes that is something that you can do so you may want to do that Vincent you may want to do that when I call the trade in the room because I know you're going to do the options now you're also on the newsletter but I'm not doing that do you follow the difference so you have to find what works for you because some people do want to trade the retirement accounts and they can't get a margin account you can't trade your retirement account a margin I hope that answers that do you usually only do one trade per day? yes if I do multiple trades I'm probably having a crappy day now say I take a trade and I get stopped in the trade like if I got stopped in Baidu I'm not even sure what else I would have done today because today there was like I might have looked for something else to do we might have done meta let's look at what that did I was looking at that but if I had gotten stopped in Baidu the first trade then I would have looked to do a second trade yeah this fell so I brought this wasn't easy this wasn't easy though look that's crappy in the morning look anyways if I take a trade and I make money I'm done if I take a trade and I get stopped talk about the day trades then I would look to take a second trade to cover the loss for the first trade and make money and what if I can't find a second trade well then I'm probably losing that day with one loss but again that shouldn't kill anybody one loss which is why you have to determine your risk you should never risk your whole account but you also have to put a stop in now what if I take a trade in Baidu and I get stopped and I'm like oh my gosh this stopped me because Yellen started talking and the market flipped I still love the Baidu I'm gonna stay on the Baidu then I might do a second trade in the same stock because I love the gap and it flipped me out or stopped me out because there's nothing to do with anything at all that had to do with the gap or Baidu I do that too again I teach retakes when to do them how to do them in the golden gap class but I might do that so I might not find another stop pick I might go back and do that same pick wait and then do it later looks like it came halfway to being stopped out in the Baidu trade no we never got we never were stopped in the Baidu we never were even close to stopped in the Baidu here we got in here and we got out we were never close to being stopped if you held it all day you got stopped but that's the whole this is the point of what I'm trying to communicate here I don't trade all day actually we wouldn't have gotten stopped I'm looking at this we would not well no I did tell people I told people to put the stop at break even if they didn't want to get out where I did so they would have got stopped at break even but they wouldn't have lost but it doesn't matter I don't trade to four o'clock anyways if I'm trading to four o'clock I'm having a bad day but no Baidu didn't stop but after I got out of that because it could have kept going it could have gone to 150 I said if you want to put the stop at break even you can and if people did that then they didn't make any money but they didn't lose any money not everybody reports to me in the room what they do but in the smart market I mean I most people are getting out quick with me I mean that's that's the point of being in the room I'm very very good with fast trades my brain works very quickly and I also talk very quickly I just talk fast it's something that I've done for my entire life I talk and think fast so you got to keep out with me but that is the point of being in the room and having to have you having to do the class before joining the room which is a requirement so everybody that's in the room has done my class they understand because they understand the women they try to understand the setups you know because they've been with me for a while and they've done the course but no Baidu I did not do an option Baidu did not stop in the day train and why wouldn't you be out is the whole point again no piggy targets Baidu was a fine trade it was a short this was not the greatest gap on the planet you know like I'm not surprised that this just sidelined all day actually and the market was crap today no directional bias for the market today at all it gapped up, fell it depended what industry you looked at the cues, the spy at what time of the day the diamonds I mean it was again this is the environment we're in again I did some kind of webinar remember if it was last week of the week before no I think it was last week yeah I think it was last week I did some kind of webinar and the person before me said that they're getting the market right every day I'm like no they're not nobody is and I'm really good at what I do and I'm not getting the market right every day so just you know you go in with the expectation every day that you need to be a sharpest attack and if you're not then you may want to take a break from trading or you got to fall somebody that is super duper focused in fact the last couple of days I said no talking till we're out of trades because that is how fast things have been flipping around and it doesn't matter if you're going long or short now going back to the market some people and this is not what I do because this is a zero percent conviction for me and it's just a dumb ass thing to do because we're never going to make any real money getting into a habit of doing this some people are trading the range day trades are options they're going long and then they're shorting the resistance they're buying the dip and they're buying the support and they're buying the dip and then they're getting out they're shorting their resistance so they are basically going let me just blow this up they're basically going long and short the same stuff I'm just going to use this buy here because the markets are an example of this sideways range that's a ridiculous thing to do you have no conviction if you're buying and shorting the same thing at the same time the same day the same week and also what range the range has changed you could say well the range is all the way up here really when was the last time we were there August you could say well the range now is here really? okay so you're going to short this what if it goes all the way back up here I mean it's just you're going to lose doing that don't do that and I know people are doing that that's deadly too you'll lose more than half the trades and something like that so you're better off fine tuning right now what to do fine tuning your entries fine tuning your exits chunking it out fine tuning the picks fine tuning the direction and not doing anything where you need the market actually because if you need the market right now the market is not doing anything right now to give you any conviction at all like for today tomorrow Friday you know I have my thoughts and take on the market but I don't even want to talk about that here because there's just like we're not looking at that right now this market is in a sideways range there's a lack of conviction and we need to find specific specific picks to trade that's looking at how the queue is closed here any other questions I was going to say something else and I forget look at this look at that so again we gapped up today and failed who knows where we'll be tomorrow but you know there's between now and Easter you know earnings season starts after the holiday but between now and Easter the next two weeks there's no real big data out that's going to dramatically change the market the Fed raised rates at quarter point they said what they said well another bank go under everyone's hoping that doesn't happen but the market's worried banks are up banks are down you know and something could happen with Ukraine, Russia there's all kinds of things going on or nothing might happen and we may just go nowhere for the next two weeks until after the holiday and then it's earnings season and then we get big moves and stocks and report earnings but that'll be a very profitable time to trade but until then I have to make money we have to still trade we have to still do stuff if there's a good gap but again it's like trying to find a needle in a haystack when you're looking for that holding it down that's where the points come in that's where the the rating system comes in that's where the the diligence comes in on my part to do the homework in the morning to prepare and that's what you learn when you do the class that's what you're going to learn Vincent, Vincent's already signed up for the class no I'm not interested in trading futures why there's just no benefit to that Don I trade the stock market I trade the spy I trade the cues I do options in the market and I do day trades what would be the benefit of doing futures the only reason people like to do futures is you don't need as much money so that's not a concern for me there's no benefit to doing futures you can open up an account with a smaller amount of money and I don't see any benefit in that you can open up an options account a cash account with $2,000 that's a small amount of money and anything less than that nobody should be trading my opinion so do options there's something else I was going to say we're getting a storm here in New York the sky looks really neat right now what else so you never know you never know what the future holds so if you're up $1,000 or $1,200 in 5 minutes 10 minutes 8 minutes get out then you know you made the money you booked the money you're done for the day no one knows what the future holds did anyone ever think COVID would hit? no and I even knew about COVID in China at that time in early 2020 and did I think that would close down the entire United States of America? no I knew Chinese Americans I knew about COVID in China I never thought the whole country would close down and I never thought they'd close down New York City and I never thought that that you wouldn't be able to get food I mean who could have predicted the things that have happened then who could predict me being in a recession now well you could go back to last year and say yeah we probably could be in a recession if something doesn't change things are not changing therefore now it's easy to predict that but could it last longer than we think or shorter than we think well again we don't know you don't know so we could be in a recession for two years until the next presidential election and the administration changes if it does change or someone else comes into power in the same party and makes different decisions you know the Fed chair and Yellen are making decisions and a lot of people think that that has hurt the economy in the market but we're living in times right now where the only person that's going to think about your future and your well-being is you so you prepare for the worst and hope for the best kind of attitude and then you'll be fine and then you'll be fine so now I was going to say that's like an apple but to just sit back and not trade and so you're going to wait for the market to break out of their range by then it's too late and it could be six months from now or one year from now or two years worst case scenario you know and why wait there's an opportunity in the market every day if you can take a hundred shares of Baidu and make a hundred dollars a day that's five hundred dollars a week that's two thousand dollars a month anybody would take that if someone's stuck an envelope with two thousand dollars a month under my door every single month I take it I take it I pay for my groceries so you know the lecture was about making a certain amount of money but it's different for everybody because everybody's account size is different and you have to make it work for you so if it's your IRA then you're focusing on buying puts and buying calls and then selling up if it's you want to do margin trades and you got to open up a margin account you got to go prop if you have under twenty five thousand or you go retail you go over twenty five thousand you make it work for you but you have to set your goals you have to work hard to achieve those goals I mean you just can't be lazy about it in this market any other questions from anyone here good questions today we lost a couple people that didn't come back I saw somebody's comment about they like this from better it's neither here nor there for me but I don't know some people still I think have trouble with it they're used to the other platform if you have questions you can email me at Melissa at thestockswish.com Vincent you did have a question for me I skimmed your email I'll respond to you later Vincent signed up for the class in April if you get trades Vincent if you get options newsletter trades and you see them like a day late or four days late no I wouldn't be doing them now whether the trade has already gone or not I wouldn't even worry about it you missed the you like you didn't do it like you know what I'm saying so don't be like oh I had off on Friday it's Monday should I do them no in general I would just you were off on Friday wait for the next one I think that's a rule of thumb whether the trade went or not which some of them didn't go yet so theoretically yeah you could still do them today but I wouldn't I would just get in a habit get the trade do the trade when you get it let it play out John you've been following me for so long I hope you do the class this year Jesse you look new I think I've ever talked to you before Don I know you're working on trying to do the class too Carl you look new Cecil I've talked to you so many times what's up with you Cecil Terrio you've been following me since the beginning of time Todd I don't recognize your name you look new Tom looks new any other questions from new people old people anybody at all well there's a couple there's a couple earnings in the next two weeks but it's not like earnings season officially starts I think with the it's the banks it's after Easter remember it's tax days the 17th now so actually it might yeah it's after the week after Easter so between Easter and then the tax deadline is that one week and that's when earnings season starts there's just hundreds and hundreds of hundreds of stocks that will report earnings and there's a lot of gaps so it's a busy time for me I have to rate a lot of things in the morning now there's not that many things to rate but I still try to find something when do I send the options the emails out most of the time in the morning in the pre-market like if I had wanted to do Baidu it would have gone out before 9 a.m definitely before the open so you don't do it till you get it so you can't do Baidu if I had done it until the open now if I happen to call a trade later in the day it's because I'm sitting here I see something that's happening in the market and let me go back to the and I say oh my gosh we need to get this and we need to do this and then I'll do it so we did some trades last week late like they were really late like $3.30 I sent trades when we had a big sell off and I knew that we were going to then fall the next day so that's really rare that I would call a trade after 3 o'clock now if I happen to call a trade after 3 o'clock again this was the sell off last week boom boom boom but if I happen to call a trade after 3 that's not a trade that you're probably going to get out of like if I call a trade at $3.30 unless it goes like gangbusters you're not going to get out of it by 4 I shouldn't say never because there's times when I've done trades and I've gotten out of them that quick where they've sold off or something to the close so I'm not going to say never but most of the time after 3 o'clock I'm just going to gap down if I call a put or gap up if I call a call the next morning so you'd want to take it and hold it but if it has a big move before 4 you can get out I mean sometimes that happens but it's usually if I call it late in the day I think we're going to be down the next morning or up the next morning if it's a call but 95% of the trades are in the morning before they open which is good you can get yourself situated figure out what you want to do any other questions so again it's important to understand what to do it's important to take profits it's important to set goals you're not going to achieve goals if you don't have the goals set and you need to be very specific with those goals whether it's $500 a day, $1000 a day or whatever whether it's one trade a day or 10 trades a day whatever it is whether it's day trading on margin it's important and helps you listen have a great night everyone I will see some of you tomorrow you're welcome