 Okay, can you hear me? Today we're going to talk about two traders. Trader number one. We're going to ask you a question here. We're going to go over these two traders, and I want to ask you what trader you would prefer to be. So we only have two picks here. I'm trying to make it easy. Trader number one, on Monday, made $100. Trader number two, he made $150. Wednesday, he lost $100. Thursday, he made $250. Friday, he made $100. Next week, he made $150. Lost on Tuesday, he lost $100. This trader uses stops. Wednesday, he made $200. Thursday, he made $100. Friday, he made $100. Total for the two-week period was what? $9.50 in profit. So here's this trader here. You can estimate based on what, based on his losses, what this trader's risk unit is. Correct? What's his risk unit? What's the risk unit for trader one? $100. So it's really not large, not small, kind of on the small side, but $50.75 would be smaller. He feels confident enough to risk $100. He or she, anyways, he made money for a two-week period. So he made almost $1,000. So on average, he's averaging, I'm just saying averaging here for the two-week period about 500, 500 bucks, let's say, a week. OK, not going to be very exact here. He lost two days. He lost two days in the 10-day period. His win ratio is, let's write it here, 80%. Now let's go to trader number two. Would you rather be this trader? Monday made $1,000. Tuesday made $500. Wednesday lost $1,000. Thursday lost $1,000. It was a crappy day. Friday made $2,000. Felt good going into the weekend. Monday lost $1,000. Tuesday, he made $1,500. Wednesday lost $1,000. Thursday made $500. Friday, he made $700. And his total for the two-week period is what? $2,200 bucks. So this guy made more money than trader one. Would you rather be trader one right now, or would you rather be trader two? Journey Moon would rather be trader two. Susanna would rather be trader two. Beast trader would rather be trader two. Anybody else? No one cares? I'm trying to, I'm gonna try to talk about stuff on the days we don't trade, which I'll try to have lecture ideas. I have two ideas today, so we'll see where we get with this, but. Dubons would rather be two. Sue would rather be two. Mound Girl would rather be two. Gallagher doesn't want to answer. He's afraid that I'm gonna yell at him. Would it be one? Bob would rather be one. Trader one would rather be one, because it's less risk. You're the only person that would ever say that, green maverick in the planet. Harry says trader one, but double the money. Now you only have two choices. You only have trader one and trader two. It's the only choices. Green maverick gave the correct answer, but I don't wanna give it away yet. Trader let's you said I'd rather be number two, but in reality I'm number one. Qualibur would rather have trader two's game, but trader one is a better win ratio, and that's what green maverick said too. The answer is you'd rather be trader one. And no one said that, but two people? In fact, I have to get the calculator here. Well, no, I don't have to get the calculator. How many losing days does he have? One, two, three. No, one, two, three, four. So this person's win ratio is 60%. So the fact is, first of all, you all failed. Guys, with the exception of two people, you all get F minuses. You're going into the holiday weekend with failures. You're not getting your diplomas. No graduation for you people. No cupcakes. You did say one here. Let's count exactly. Obi-Wan, Bob, they both get diplomas. Romy gets a diploma. Amadou gets a diploma. Chinchilla gets a diploma. So there were four people that are able to graduate. Qualibur, let me see what you said. Oh yeah, so he did say five. It was a long, Qualibur's response was long, but five. So we have five people that will be graduating into the World Day holiday. The point is that Trader number one has a better win ratio. And Trader number two does not. So how do we use this information to help all of us get better? The point I'm trying to make here with this lecture and I thought about it yesterday is that, and I kind of in my mind have been working through this in the last six months and really even last year in my teaching methodology and when I'm communicating to people in webinars that don't know what I am about that are new to me. It's a challenge communicating in the world of finance to people about money in a way that they can use it for their benefit without being too possessed and obsessed with the money, but yet that's the goal and it's challenging. I think it's challenging and it's something I want to improve upon myself as a person that has a voice. And the point of this and it was a great lecture is that you would rather be Trader number one. So you would rather be Trader number one because he has a higher win ratio. So if Trader number one, if I would change all of these numbers here, in fact, let's just do it. So if this was a $1,000 win and this was a $1,500 win and this was a $1,000 loss and this was a $2,500 win and this was a $1,000 win and this is a $1,500 win and this is a $1,000 loss, a $2,000 gain, $1,000 gain, $1,000 gain, what is this total? 2,500, 5,000, 6, 7,500, 9,500, 10, 5, 11, 5 minus, wow, is that right? 11, 5 minus 2,000, 9,500, that person would have made $9,500 in two weeks and that's a lot better than this by a long shot because this person had a $100 R and this person had a $1,000 R. Here, I'll put it down here, the risk unit. Here, I'm just gonna put risk per trade because I wanna get away from this R but let's just define it. Risk per trade here, well, it was 150, I just changed the numbers now, but this is 1,000 so let's make it all equal, it was 150 previously but now I messed up that. This doesn't fit in one thing here, this is 1,000. Here, let's bump it up. Risk per trade is 1,000 for this person and this person too, so the bottom line is that this person obviously is better. You people couldn't tell that when I only had a risk of $100 for that person except for five people that therefore you were very focused on the profits of the total of the money at the end of the week, at the end of the two weeks. You were very focused on this number here. Now this number is different but you were more focused on this number than this number. Okay, here we are. This is, I didn't, I wasn't exact here. I don't, this is, think of the bigger picture here. This isn't about, I'm trying to make a point here. This isn't about 0.4 hours and 0.5 hours and 0.7 tenths of an hour. I want you to discipline do, think of the, I'm trying to make a point here, think of the bigger picture of what I'm trying to say. I wanna know that this is a bigger picture here that I'm trying to say to help people, okay? The bigger picture here is what? Is it totally being lost in all of you? We're gonna talk about two things here today. This is the first thing, the second thing is gonna answer what some of you are discussing about 0.4 fourth of an hour or 0.75 of an hour. We're gonna go over something that's gonna touch on that now. We'll just talk about this point here. Right now, is it being lost on you the point that I'm trying to make? It doesn't matter if you don't get out of every trade with one hour. That's not the point I'm trying to make here. The point I'm trying to make here is not that all of you should be making $9,500 and every two weeks if you risk $1,000. That's not the point. I want you to understand the point I'm trying to make here. It's not about the total amount of that. Big picture you get good, Mountain Girl says. These traders got it. Higher win ratio is key. That is to have a win ratio that's higher. Consistency, yes, make the money. See the picture very clearly now, yes. You get your winning point, the best ratio is yes, wins are important. So, guess what? In the end, where you are right now, you're trading and everyone is at a different place. Your number one goal in your life, and actually this goes for me as well, which I've been doing this year and I've even been tracking it and putting it out there. The number one goal of our lives is what, always to have a good win ratio. Number one, if we do, we won't lose in the market. We'll make money. And number two, the amount of money that we make will depend on the amount of risk that we take per trade. So, if our goal is not to make $1,000 a day or $500 a day, if our goal is not a monetary goal, in our minds, even though that's why we trade, we trade to make money and we know that. But if our goal is always to stay on point with the win ratio, we will do well. And then if we realize that we only ended up, remember this guy, say this guy in two weeks, he was up 9.50, he can go back and look and say, oh, well, based on that, if I increased my risk unit to 1,000, I would have made 9,500 based on my trades. This is trader one. He's saying based on his trades, based on his picks, his entries, and also his exits. And this is gonna lead to the next topic. Everyone in here will have a different exit on your trades. So what you need to do is take what you're doing, look at it, your goal is the high win ratio. Once you've got it, if you're not making the money and dollars and cents that you wanna make every week or month, you say, okay, I did have eight wins, two were losers, I made $950, a risk was 100, or maybe your risk was 200, that's not the point even. The point is not even what your risk was for trade. Again, we've gotta get out of this thing, we've gotta get out of this thing, I'm trying to help you achieve your goals. If you know that you're booking every trade for 50 cents or 20 cents or 30 cents, then, and you know you're winning eight out of 10, then you should know if you wanna make more, then you would increase your risk, then you'd hit the number you wanna hit. This is extremely important and it's gonna help a lot of you, and this is what I have to start telling people to get out of people's mindset about, it's hurting them, it's hurting them and it's challenging to communicate to people in a way because I know how I act and think myself, but the reality is that everybody will exit trades differently because everybody is a different goal and everybody also has a different risk tolerance and everybody also has a different patience tolerance. So if I know that I wanna get out of every trade in the first move, even if that trade will go on to work, here, let's just bring up JPM. Here, I'm gonna bring this up right now. I'm gonna bring this up right now. Oh, look at this. Here, you people better watch these trades. They're all going. All right, how aggressive to call these. Trader Lexi, what are you up? You better watch these. Where am I at right now? I'm losing my mind. JPM, or my train of thought, not my mind. I have my mind. JPM on five, 17, let's go back to the minute. Oh, Trader Lexi, you're out. Okay, Trader Lexi's out of Google. All right, let's look at this. Here, let me blow it up. I have my mind, but I'm trying to think so many things I wanna communicate here. Here, okay, let's look. So anyways, nice trade in here. Dropped, fell, boom, okay? Oops. Now, if you did this trade in here and you got out in here, you made money. I didn't, I held it. But anyways, if you didn't in here, get out here, fine. If you didn't in here, get out here, good. If you didn't in here and held it into here, great. How many of you didn't in here and held it into here? Is there even one person here at all that did this and held it? Cause you would have been on your own into the afternoon, into three o'clock to get this one more dollar through the target I told you, which was 85. And I said, 85, boomer bust, and it worked. It went another dollar. Did anyone in this room hold this to 84? Disabled and doomed to hell of 85. So did I? That was what I said I was gonna do. Journey Woman said, no. Frisco was out at 85. So again, no one held this to 84. What, Gallagher, have you held this to 84? If you did, congratulations. Oh, 85, no, okay. Anyways, the point is that everyone will have a different exit, but you have to blend it with your personality for what you wanna do. But that's how you come up with the numbers for what you wanna do. So if you know, but the point is if you're winning, if your win ratio is high, you've got something to work with, then you got something to work with and you say, I know, like if my name is Gator, is Gator here today? Gator doesn't wanna hold anything past two red bars. Gator probably get out of this. If Gator did this, I don't know if he did or not, here. Maybe here would have been a long trade for Gator. So if you know your personality and you know that you're gonna get out, every time you're up, one red bar, two red bars, you won't even let it back up a penny. You don't wanna see one speck of a green if you're in a short. If you know that's your personality, but you win eight out of 10 trades on your entries in the picks, and but your goal is to make $500 a day or $1,000 a day, then you know, okay, well, then I know that I take the first move. I know that I'm only getting this part portion. I know I'm only getting a third of the move or half the move or quarter of the move. I know I'm not gonna hold it. I know I'm gonna get out. I know I don't want to, because that's my personality. I'm just talking, I'm talking as if I was a person, okay? Sometimes I do hold things like this, but if you know that about yourself, then you can go back and say, well, if I had risked this much, then I would have made this much, and therefore that's what I have to do to meet my financial goals. Instead, and this is experience just teaching people for myself. You know, I'm part of it. Part of it is again the mentality that is out there that I've been aware of and you think that it's gonna help people, but it's not. The risk-portrait concept doesn't work, I don't think, as a way to money manage yourself to achieve your own goals. I'm realizing now after eight years it doesn't. It sounds great, but it doesn't work in real life. You have a risk-portrait, and you have to stick to that for the amount of money you're risking that you know you don't wanna lose more than that, and you have to use a stop. And that is a reason to have a risk-portrait so that your results are equal. But the idea of your goal to be one R or half R or 0.5 R or two R's or whatever, it's not realistic because everyone's personality will depend on where they get out of the trade. Some people will not hold them, some people will. Some people will hold them too long. Some people will get out too early. Some trades will end up being 10 Rs. I didn't count what that JPM was if you held it into 85 or even 84, but it was a huge, huge trade. So these guys in here didn't have any massive trades based on their risk. The highest day this guy had in here was two and a half Rs of any of these. Most of them were one R, one and a half, but I'm realizing that that's not so important. The days that you get big sell-offs in the stock, you get swishes, you get the market with you, you know, it's a good gap, it just opens your in and it flushes, we're gonna hit, we're gonna hit, you know, one and a half, two times, a little bit more than two, three Rs are risk, whatever, in some of these trades, just because of the entries that we're taking, it's just gonna happen. We're not gonna have to think about it, okay? The thinking process comes most of the days when things do not sell off right into the first target, but that was so close that I knew it would go there and we had the market with us. But the point I'm trying to make is that you can achieve your goals. It's not about the risk unit, it's about going back and looking and seeing exactly what you yourself are doing and everyone is doing something differently with your exits. It doesn't matter, that's okay. Look at what you are doing. Look at what you are comfortable with. What you need to be focusing on is a win ratio. Once you get that down, then you look at your results and you say, I wanna be making more. Well, how can I do it? Well, I'm averaging if my risk, and I'm just talking out loud here, the guy that was risking 100 bucks, okay? He was averaging five Rs a week. That was his average. Okay, well, if he knows that and his goal is he wants to make 5,000 a week, then he knows his R unit has to be 1,000. So then that's how he's gonna work up to that. It's not that he's gonna bump it from 100 to 1,000, but that's gonna be the goal. He's gonna work towards that, knowing that if he just continues to trade the way that he's been trading, he'll be fine, which is with a win ratio of 80%. This focusing, focusing, focusing so much on the number of Rs or the amount of money per day and all of this stuff, I think it does a disservice to the system itself, which I'm trying to teach you, which works, which is an 80% win ratio. And I don't want you to lose sight of that. Some of you haven't. I'm just saying I'm trying to help those of you that are making money make more. Gator just hates it when you lose you. You have to have a winner every day. Well, that's fine. That's your personality. It's like if I was trying to make a clone, if I was trying to, it's like, it's like trying to say I'm gonna clone myself. Well, that's not gonna happen. I'm not gonna clone myself. No, forget it. So you know yourself. I don't know you. You know yourself and you also know your results, but you know the room calls too, because you're here. So you know, this is, and you gotta forget about all the things that those of you are doing on your own, you have to take that out of the equation for now. Cause those of you that are doing stuff on your own, that you should have separate. And you should look at that and say, should I still be doing these things on my own? Am I doing well on my own? Or you could look at it and say, gosh, I am doing well on my own. I'm gonna continue to do the trades on my own as well as Melissa's or whatever. I don't know, you should have them separate from the calls that I'm making and things you're doing on your own. And some of you are doing things on your own. Dubai's the stuff on his own. Gala had the stuff on his own. I, John, does stuff on his own. Some of you just stuff on your own and that's fine. But look at the results to make sure that you're profitable with those. If the wind ratio is high, what you're doing, you could make adjustments and changes. And actually the holiday week is a good time to look at that stuff. So anyways, the point I'm trying to make is that the number one most important thing is to have a high wind ratio. And if you know yourself and you know you're getting out of every trade with 30 cents or 40 cents or one third of an R or whatever, then if you wanna make more, guess what? You just have to risk more. That's it. So it's an easy solution. But it's not something that you can do if you're not having a high wind ratio. Putting your stops in, not losing too much when the trains don't work by not putting in a stop. All of these things. Does this make sense? Total sense, yes. Does anyone have any comments about this or anything they wanna say? Let's look at these trades. See, this is good. No reason to sweat a bullet. Yeah, it makes sense. And I think it's gonna help some of you. Some of you are doing really well and don't need any help at all. And you could decide to risk more next quarter. Some of you though, I know, are making money but you don't feel satisfied. Some of the days that it's enough money and then you end up doing dumb things. So then instead of just feeling happy with being positive and up, you do dumb things like do other trades or whatever or just feel bad about yourself because you don't feel like you're making enough as far as the monetary amount goes. But that's just a function of how much you're risking which you can increase until you know you have a high wind ratio and when you do, then you can. And you're gonna mirror with yourself based on your average, your own personal average number of hours. And again, I'm saying that our word but I hate it. I'm just saying that to look and say if you know you're risking 100 bucks a day and you're averaging $500 a week and you wanna average $1,000 a week, then you're gonna have to risk $200 a trade and so on and so forth. Yes, it makes sense. Helps you defeat your natural desire to try to squeeze every penny out of a trade just not necessary. Of Fresco, you and Gala had should go for a beer because he's the same way. You don't have to squeeze every penny out of a trade. You're getting more confident in the platform and calls. That's good. You're not satisfied by not making enough and not doing stupid things. I don't know what you mean about doing stupid things. I don't think anyone in here does anything stupid. Sometimes, but not for the most part because I've taught you pretty good. This dissatisfaction was not making enough. That's the purpose of this lecture here. The purpose of this lecture here is this is not that far away from the guy that was risking $100. It's the same guy. It's trader one in six months. Trader one in six months or three months or four months or trader one in a year, what does it matter? Trader one was the same guy that was risking $100 and had an 80% win ratio and now as of December 1st, he's making five grand a week, trader one. And I'm just throwing these dates out there because I don't know. I don't know how long it'll take you or if you have to build up your counter, you've got the money to trade this way now. But the point is, even if you had 100 grand in account, why don't you just risk $100 a trade and prove that you can get the ratios right? Then go back and look and see what you're averaging and then you'll know what you need to up it to. So the bottom line is that it's about looking at your win ratio. That's the whole point of this lecture. And whether you have a lot of money or not, you need to know what you're averaging and that is not going to be dependent on the gap. Or the rating or anything else. It's going to be dependent on your personality when you take the exits, how long you want to hold the trades and it's going to vary from person to person. What is the reason that we don't move stocks? Well, I don't have 2,000 people in the room but let's just say some day I do, but we're not going to move stocks. Everyone will actually enter on a different price. Everyone will exit on a different price. We will. It will be that way, even then. It's that way now, it will be that way then. We'll continue to trade very liquid stocks and everyone will get a different entry and everyone will get a different exit. I call the numbers exact, but it's impossible to think that everyone would have hit it at the same penny in or out, but you want to be looking at the same stock pick with me and you want to have your stop in and you want to understand yourself and your personality and then go back and look and see what you're doing. You say, oh, well, it's clear. All I have to do is risk $300 a trade and then I'll be able to achieve my goals. Okay, fine, I'm gonna start doing that June 1st, you say to yourself. It's not squeezing much, it's making a profit and managing a position. You're trying to intellectualize something to make sense out of it, like managing a position is, you're trying to, no. What Frisco said is more the right thing to do. Frisco's saying squeeze every penny. He's got it. You're saying, well, I need to manage the position. You're not talking on CNBC. Don't say, well, I'm managing the position because today Google is up and the market looks great and it's going to make a new hide. Therefore, I'm going to hold this and the fact that I'm up is $10,000. It doesn't matter to me because I'm going to manage the position and the position is going to go exactly to where the number ought to be based on this doing this and the time and this is going to happen. Cut the crap. You want to make money. If you're up, you need to get out. I'm telling you what to do. This is not, this is gonna go into the next thing I'm gonna say and only 15 minutes more to talk. Make the money made a great point to me and I said it to him. He's too black and white. He's too black and white and Galahad you are too and those of you that are trying to find these perfect, perfect, perfect, perfect, managing positions, whatever, just stop it. Trading is not black and white. It's not. If you trade black and white, you're not gonna do well. Trainers want everything to be black and white. If you're a black and white thinker, it might help you with your money management but it's not gonna help you with your trading. I mean, one of the reasons that traders have such problems is because they're desperate for black and whites. I did the helping house last week and there was a guy that was, he was, I don't remember what the heck, what was the stock? Gosh, darn it. What was it? Was it VRX? Yes, I think it was this. Let me look. It was something so weird that the guy was short and I said, well, why are you doing this? Give me the strategy. He answered 10 times and never gave me the strategy because there wasn't any. Everything he said was a stochastic or a movie. Yeah, it was this. That's what he shorted. And he gave me 500 indicators. He shorted that bar. We shorted this. Or whatever. No, what did we do Friday? I'm losing my mind. Friday wasn't JPM. What was Friday? We shorted this. So we were shorting this and that guy was shorting this. Okay. You know, these indicators are not gonna tell you what to do, which is what everyone loves. That's why they wanna think black and white. People wanna think black and white. They want to know that if you're gonna do this, it's gonna happen this way. And nothing will ever, there will be no variance from that. Wrong. Trading is a skill and you must learn the skill to do it and you must learn how to recharge. So it's the only way you're gonna be successful and it's a skill that takes a very quick time for some people, a very long time for others, but if people are honing that skill and learning that skill in ways that are incorrect or wrong, which many people do, then it is problematic. It's very problematic for people. So then they're actually learning a skill that is teaching them not what to do the right way, which is what people find interesting about doing my class. So people are learning a skill that actually isn't working and that's really problematic. Cause then when they come around and find someone like me, then they have to unlearn what they learned and they have to learn something new. So train is a skill that you gotta use and you can't think of it like black and white. It helps for the money. It helps for the money because then you won't be greedy. Then when if your goal is for the day of $1,000 and the stock starts to back up and you get out and you're black and white, you're like every day if I make my goal and out, fine. That works for money management for black and white, do it. My risk is $1,000 every day and I'm not varying off of that and point to stop. Great, that works for black and white. For managing the positions, for money management, black and white works for the skill set that you need that's required to train, it doesn't work right. And things, and the reason is because of the time in the market and chance and that's what it is. It's time in the market and chance to play a factor in these things that is no different from life. You could say I know that I'm going to go on a vacation on starting tomorrow on May 23rd. I know that I'm gonna go on a vacation. I know that I'm access black and white. I'm not gonna trade for the next week. I've decided, that's it, boom. There's no chance it's not that I might trade. I made the decision I'm not doing. It's black and white. I'm not gonna trade to get back. One week I'm taking off, I need a break. Boom, that's black and white. Now, what's gonna happen in that week? Will I relax every day? Am I gonna end up doing work every day? Will I be refreshed and relaxed when I come back? I don't know. My plan of action is that I will but chances are I'm gonna have a million things to do and it might be Sunday till I get to relax and I might only get two days to rest. My thought is that I really wanna have a week of no work but it's probably not gonna end up being like that and I kind of know that the back of my head because I have things to do. Will I get everything done in one day? Will it take me two? Will it take me five? I don't know. So do you see that's life. It's no different from a stock, okay? So if I tell you that the target in Google is this morning for you to get up in the run up and get out with the market and you don't get out, well, guess what? I don't know what's gonna happen here with this. It could continue. We could go higher. It may be done. You might have missed your exit. I don't know. Nobody does. It's not black and white. Is it going to go over the high? Yes. Can I tell you the exact time? Will it happen tomorrow morning at 10.35? No. It's so this idea of managing the position, it doesn't make any sense. You can't talk like a person, like you're running a fund or you're in CNBC. You are in blind trades and it's an option and it has expiration and you gotta get out by then and you don't have all the money in the world and you have to think like a normal person and you have to be happy with the money that you make and you have to take it out of the market and you have to stop thinking black or white. You say to yourself, gosh, this looks good. I really, really like it. I've got the market with me. I wanna have a nice week. I'm gonna get out. I'm gonna get out when I'm up. And that's what trader Lexi did and she got out. She made a hundred bucks. If this goes on tomorrow and she could have made 500, she's probably not gonna care. She may not even look at the chart the rest of the week but she won't worry about it the way some of you do. Trying to be a perfectionist and I don't know why. The perfection is in being able to have the skill at all. That's the perfection. The perfection is to have the skill at all and then you take this thing here that I'm showing you to help you which is valid and important and a great lecture here. And I'm almost done. But this, you take what I'm telling you here and then you're gonna say, this I can grab hold of. This makes sense. This I'm gonna do now. Because this I get and I'm realizing this idea of the R units that I've been aware of and that other places teach. It's trying to be too perfect and it's not realistic. It's too black and white. It's too black and white to say I'm gonna make 1.5 Rs in every trade that I do and I'm gonna hold it until four o'clock or bust. Okay, well you might lose in some of them. You might lose in some of them and be up a couple thousand dollars. Really? Is that what you want? That's stupid. That's dumb. Okay? I mean, some of these gaps we've done, I can't think of any right now but there's some of these ones where the charts have massive tails and then they bounce, you know. And then if you don't get out, if you try to stay in them to close, you're screwed. So you can't even say that. Do you take 200 now in Google? Here was a run up this morning. You couldn't get out there. It looks good to run back up again. Is it gonna happen right now between now and 12 o'clock? Probably. If you wanna give it one more run up over the high, fine. But this was the morning exit. The morning exit happened here at 10 o'clock. Go figure. You missed the morning exit on this. Could it go higher? Yes, it could go higher for the next two days. It's getting close to making you higher. It looks good. The chart looks good. What do you want from me? You want me to tell you the exact exit? This is what I'm talking about. This is, you know, this is something that it's not about managing the position. It's about taking all the things and you line them up. Okay, we got the market gapping up today. Good. We got a good trade today here. Good. It expires Friday. It's a holiday week. Guess what? The market is gonna be silent for a bunch of days this week. You may get some play in certain stocks on Thursday or Friday, but typically fund managers and traders, they go to the Hamptons. They're gonna be leaving and they're not leaving Friday afternoon. They'll be leaving Wednesday or Tuesday or Thursday. So, you know, how are these stocks gonna move if you don't have funds moving them? You might get one or two specially placed Tuesday, Wednesday, Thursday, Friday, but I don't even know what ones you will. People are taking off, okay? And so, you have to take all of the things together. How much time do I have left in this? What's the market doing? Where's the next target? All of these things. You are basing it on the money. That's exactly what you've been doing. That's exactly what's been a problem for you, Galahat. And then you change it all the time. So, you change it all the time. You change it all the time. That makes it even worse. One of the key ingredients to the lecture I just gave is you have to keep your risk the same so that you can even know that you're averaging 30 cents on every dollar move. You're averaging a dollar in every move. You're averaging 50 cents in every move. You're averaging 40 cents in every move. How are you gonna change and know what amount of money you need to risk to be able to make the goals you want if you don't even know, if you don't even keep the same risk for more than a week or two weeks or a month? You have to be able to have the same risk and you have to be able to have the win ratio to be able to go back and look and see and say what you're doing and knowing then what you need to risk to achieve your goals. That's what you need to know. So, in the options, it could be different. It might be you're risking $1,000 and averaging 500. Fine, that's 50%. If you're averaging 100%, then you'll know what you need to risk to make the 100%. You're focused too much on the money. That's the whole point of what I'm trying to say here to health people and you're the worst at it. I'm not gonna yell at you today, but it's true. It's, you know, if you have to be focused on the win ratio, I'm giving it to you because I have the skill. So, the money management is on you. It's not managing the position. It's having common sense. It's some factor of common sense that has to go along with what you're choosing to do with your trades. Being black and white and seeing all these things black and white is not gonna work. It's just not. The perfection exists in the system itself which is the fact that you can predict what stocks are gonna do 80% of the time. There. You're not gonna get any more perfect than that. So now, what do you have to do? Well, you have to figure out what is your financial goals. So if your financial goal is to make 20 grand a month, okay, go back and look at your trades with the same risk and an 80% win ratio over a period of two weeks, one week, one month, three months, whatever you wanna do. See where you're getting out. It may or may not be the same place as me. It doesn't matter. If the trades are winners, then you'll know. We're not scalping these trades anyways. All of them are moving at least probably a third to half an hour into the first drop that we're taking them. So it's not about scalping it for five cents. Any of these things we're doing. So you can probably make a good estimate based on one month period of time of what you need to be risking to achieve your goals. If you don't have the cash in the account to do it, you can switch to a prop broker instead of a retail place to get the leverage if you need it. Or you can build up your account over time and bump up your risk accordingly in $100 increments so you get there. Make the money. It asks me something too about, oh gosh, what? He asked me what gave me the confidence to bump my risk up because I had $150 risk for so long. He said, how did you bump up your $150 risk? Which I didn't bump up immediately to a thousand but I did kind of jump from 150 to like 400, then boom. I jumped up to a thousand. It was just the confidence in my system doing it for however many years and the skillset that I have. So you don't have to go 100, 100, 100, 100. You could trade between now and the end of the year with a $150 risk and then as of January 1st start risking $1,000 if you know you can do it. If you know you can do it and you know that you can do it, it's a knowing. You know, you know it. I know this stuff when I say it. It doesn't mean I'm right all the time, I'm not. But that's not how I feel. That's not how I feel. This is part of trading is that it's a knowing. So the black and white, there's no feeling in black and white. There's no emotions with it. No feeling, no trust, no belief, no confidence. It's no, if you're trading black and white in indicators where's your confidence in yourself? Zero. You can't train without that indicator. You will die without that indicator. You will lose your life savings without that indicator. If you wanna trade a system that's based on black and white, what are you gonna do if you don't have it? You won't be able to live or make any money at all. You don't wanna be like that. You wanna know that it's you, that you're the one that makes it happen, that you can do it no matter what. And you don't need any indicator and you don't need anything at all because you got it all up here. And you can't see my face, but I'm pointing at my head. It's all in your head. It's all up here. You know all the information. As you're reading it in live time, it's in your heart and you believe it and you know it and you have it, it's in you. It's not outside of yourself. All right, that was a good lecture. Does anyone have anything else they wanna say? If not, I hope you have a great week. Review your trades. Gator has a question. I gave you the picks for the room for the, I gave you the picks for the room. I honestly, honestly just need to take some days that I'm not working at all. And I do have this project I'm working on and then I gotta get some things done for it and the website is a major thing I have to work on. And if I don't, if I don't take the time, I will never get it done. I have things I gotta do for myself and I was in line when I said that earlier, I'm hoping to take some days off. I hope it's before the weekend, I don't know. If you don't feel comfortable training without me, then take the week off. I'm telling you, it's going to be slow. It is going to be slow this week. People have vacation homes, they go away for the holiday. Go to the beach, they go to the shore, they go to the Hamptons. There will be, the market is open. If you trade Friday morning, the in and out of five minutes. The only day that looks busy is possibly Thursday. But I think people will be taking off to leave before then. I know from knowing people in the city that people leave early for the holiday vacations. They do. If they don't, they're caught in traffic six hours to get on a two hour drive. That's why people don't wait to leave to go away to the beach on Thursday or Friday. People will be leaving. They don't want to be caught in the traffic. Wherever they're going, the Jersey beaches, the New York beaches, wherever. So Maryland beaches, you got to take some time off for yourself to refresh for next quarter. No, I'm really not going to trade this week. I have things, I'm not going anywhere, but I'm not going to secret trade without you. Take the time and either take the week off or trade on your own and be careful. Mountain Girl, I will email you today. Great lecture, I'm super in my picks, thank you. Great lecture, you're welcome. Once in the money and the trade is running, trailing stops can keep one in a part of a trade, reducing risk preserved gains. Yes, you can do that. Feeling antsy about getting out and move stop towards the money. Yes, I don't trade like that, but yeah, there you go. Right there, that's your personality, Koala Bear. That's you, you want to do that. So then that's, but it's the data. You go back and look at the data here. I'm going to go back to this. Koala Bear, trade like that for one month with trailing stops and all the picks that I call and go back and look at your own data. Because part of this data, and this is what some of you were talking about when I was giving the lecture initially is I just made these numbers up. I'm just trying to, I'm just trying to put something here to make a point with the profits. The win ratio was the point I was trying to make, not the profits. The, what I would, the point I'm trying to make is that with the same R unit, somebody can make a crapload more money if they have a higher win ratio. That's the point. But, but either way, the thing is that you will be basing this on your own data. Your data is going to be different than my data. We can all trade JPM. We can all trade the market long today, which I didn't do, but if you did it, that was the call for the room. So we can all trade the Google option. Everyone's data, individual data will be different and separate, okay? Based on your method of deciding where you want to exit the trade, which has a lot to do with your own personality and knowing yourself about what you're comfortable with because stocks don't move in a straight line. So if you are still in this, and I'll go back and use this here, actually no, let's use Friday. Friday's a better example because Trader Lexi blew a cow Friday night because she was, took this trade and fell and was down into the Friday night. And actually someone else emailed me about it too. Oh my God, I was up in this and now I'm down in it and I didn't get out and I missed the exit and obviously you didn't. But let's just use this example here Friday. Here, no, let's go to the 15 minute. Here's the open, here was a run up Friday. 10.15 was the high on Friday. So here you have it. If you know you can't stand being down in a train, then when it runs up, get out of it. It's not gonna go in a straight line. It didn't. Now did it go over the number today? The answer is yes. The gap up helped to do it. Far over the number did it go. 937.75, what was the high today? Not bad, $4 plus. So it was worth holding it. But if you know you can't do that, then you gotta get out right of ways. If you can't do this for this to happen here, then you gotta get out right of ways. And guess what? This is pulling back now. What about tomorrow morning? What will it look like? Will it go up? Will it hit over here? It might. If you can't stand this, then you gotta get out when you're up. And that is a major, major hurdle for you, Galahat, because every time you're down, you say you're okay with it, you say you're okay with it, or you say you're okay with it. And then when it's down, then you're like, oh my gosh, I don't know what should I've done and missed the exit, or should I get out? And now where it's gonna go? And you second guess yourself all the time. Whatever decision you make, you have to be okay with. And if you don't know what that is, then you better figure it out. You better figure it out. I mean, you need to figure it out. This is where you have to understand yourself. And I don't have the time to sit down and spend hours and hours and hours with every one of you to go over your personalities and do a personality questionnaire. But I tell you, if I did, some of you still wouldn't listen to me. So even if I said, this is what you need to do based on your personality, Trader One will call you Mr. Personality, this person, this person, I come up with a different, you still, there's no guarantee you're gonna do it. You have to make the decision on your own that you will want to be successful and you, what I'm saying is correct. And you want to do it. And it's not a failure of yourself to, it's not, you're not failing if you don't hold it to the high. You're not failing if you get out too early. You're not not perfect if you don't do anything other than not take the trade or lose in a trade that worked. So the constant, constant criticism of yourself or feeling like it's not enough or I'm not doing good enough or it's not enough or it's this and that or I, all of that just wreaks havoc on you. You can't be like that. Unless you're not doing the trades, I'm calling, you're not doing anything critically wrong. Okay? Unless you just don't get out when you're up at all and let every good trade go to losers which would be ridiculous. I don't think anyone's doing that. So what you're doing, if you're looking at other signals for indicators that goes back to the original lecture I was talking about earlier, Galahad, you're using indicators as black and white to help you with timing of these trades. And I don't believe that that works. If you have 100% conviction in that, that works, then you're gonna use that system that you're not following my system. So then I can't help you. I can only help direct you with my system which is gaps. It is, my belief system is that indicators do not work in the market because it's not black and white. For the very reason that I just gave the lecture. Indicators for anything do not work for you to decide to take trades on and off because the market isn't black or white. So if you're gonna rely on that, then do it, then you're not doing my system. If you're gonna try to combine it, it's not gonna work because I don't believe they work. You were mad because there was a number that no one near was bidding in the Google on Friday. But you gotta understand that when these things move they can move a dollar in your direction or a dollar against you and still be fine. They can move $2 in your direction or $2 against you and still be fine. One of the reasons that these stocks are very good to do options in and I've been calling so many trades and they've been working for very profitable trades because they swing around. And if you can't handle that, then you take less size or you get out as soon as you're up. They will make swings, but that's why some of these then can be huge trades. So again, know yourself. You could say, oh my gosh, I can't handle a swing. I can't do it. I can't handle a dollar swing or whatever. You gotta know yourself. What have you been doing for the past 20 years? Perhaps shoot for excellence as opposed to perfection. Yeah, exactly. I'd say that all along. I've never said the word excellence, but it's a great word. It's, I say you wanna get good. I say you wanna get good. I think good is good enough in the market. Good is good enough. You don't have to even be excellent. It puts too much pressure on some people. All you have to do is get good. All you have to do is learn the skill. You get good at the skill and you'll do well. All right, good luck to your people. I showed you some watches for this week. I don't know what anything does. Make sure you know Mr. X is on these options that you're in. Let IBM run out and probably till next week. Well, that you probably can't tell Trader Lexi unless you're watching it every single second or maybe you have something with the platform. Maybe you should call the platform, the broker about that because I'm unfamiliar with that platform. But you almost have to sit and watch it every day to see what went off, which nobody has time to do. I think I made the point. I wanted to make here. After a lengthy discussion. So have a great Memorial Day. Relax. Be careful this week if you trade on your own, which is fine. It's good for some of you to do that anyways. Practice your gap ratings. You'll do good. Don't go crazy. If you trade some of these days of the market slow, then maybe do half size or low volume. I mean, a lower risk, because the volume will be lower this week. I'm working on finding a better way to communicate, ways to help people do well in the market. And I think today was a good lecture and it's the start of something in my mind that I've been working on that it's gonna continue, it's gonna continue to develop in my mind because it's a challenge to communicate with people about trading and money and to mesh it together in a way that helps them. This is, I'm working on it. I'm gonna get there. Today was a good lecture and it's processing itself in my mind because I think all of these points I made today were valid and they're gonna help people. Yes, I've gotta get a lot done. Can't waste the time. All right, have a good day everybody. I'll talk to you later. You're welcome.