 under your own Social Security number, that's fine, but if somebody were to sue you personally, let's say for a traffic accident or they get hurt on your property and the insurance doesn't cover it, then they can start going after your assets, including your trading assets. So that is something that you definitely want to consider here as well. Number four, one of the conflicts that the IRS has, for whatever reason, is having a W-2 job and being an active trader. For whatever reason, IRS does not think you can do both or have conflicts with both. So they don't like it and I don't know why, but it is a conflict. So that's just kind of a warning out there if you've got a W-2 job and you're a full-time trader, or even a part-time trader, but you meet the criteria, that can be an issue. So just having warned you if you do this personally, these four things may become an issue to you. Now, is there a solution to these four things? Absolutely, there is, and those are entities. Or LLCs, some people call them, but there's several different types of entities. There's a sole proprietorship, which is actually just trading as an individual. That's just really, that's when you deduct your expenses as an individual on your schedule, see that's a sole proprietorship. A single member LLC, that just gives you a little asset protection, but it's really like the sole proprietorship. Then you have general partnerships, limited partnerships, multi-member LLCs, LLCs corporations, C corporations, LLC C corporations. What is all this and how are we going to lead through this? Well, I'm going to describe some of this, but we're going to limit this to LLCs and how they can be taxed. But let me give you this first, the sole proprietorship and single member LLC don't do much for a trader because both of them go back to that schedule C on the personal return. And so you're deducting expenses on your personal return. And so now you've got the audit risk and you've got the limitation of the home office deduction and all that other stuff that comes with it. So the only thing, the single member LLC gives you a little bit of asset protection for your assets. And that's it. Now, as we wade through this, I do need for you to note that the type of entity that's right for you depends upon your situation. There are cases where I've talked to people and I've recommended a C corp or an LLC C corp. I'll explain what's going on with that here a little bit. That is rare. C corps are very difficult to work with. And they are not as good of a tax break as what they used to be, let's say five years ago, or probably longer than that, six, seven years ago. So we generally don't recommend those. So sometimes we recommend S corps, sometimes we recommend partnerships. And I'll get into that. But it depends upon your situation, what you have going on. So let's get into this. The kind that we recommend most often for traders is a multi member LLC. Now what a multi member LLC is is basically an LLC partnership. And this is formed with your state. And most states or some states you could set it up. They don't care whether you've got a partner or not. You need a partner here, by the way, we'll talk about that in a little bit. But you you set it up with the state, they don't care. Some states you actually have to designate who the partners are when you set it up with the state. So just leave that where it is. Now I am a person that if you call and you do consulting with me at traders accounting, and we do consulting and I'll cover that later on. But on the phone, I'm going to give you the pros and I'm going to give you the cons, because I want you to have full information. And I will also tell you to go read things. I will also tell you study, do not make a decision based on just what I say. I want you to have or anybody I consult to have a firm grasp on it and feel comfortable with a decision that they're making. Not I don't want to force anybody into the thing. So coming back to this, why a multi member LLC? Well, let me give you the cons first. Before the pros, the cons are this. One, in most states, not all states, you do have a yearly LLC fee. And that's true with a single member as well. And so you have to keep that up with the state. Now there are a few states that once you register the LLC, you never have to pay. Again, you just have to file the annual report every year. And that's it. But some states, the annual fee, I know South Carolina is like 25 bucks a year, nothing New York, I think 100. And then we go all the way up to the most expensive, which is California, which is 800 bucks a year. So there is the LLC fee in a lot of states every year that has to be paid. Also with a multi member LLC, you do have a tax prep fee, because now you are preparing a partnership return. Now let me explain that for a second. The partnership, that's why you need partners. And we'll go into that a little bit. But the partnership return goes into the IRS on March 15. Now a partnership does not pay income taxes. It's a pass through entity. So it tells this return tells the IRS how much each of the individual partners are going to be putting on their personal tax return. So the tax is paid on the personal tax return. However, when this stuff goes to the personal tax return, it goes on schedule E, it goes on schedule D, schedule B, but it never touches that schedule C. That's why this is very advantageous there. But you will have an extra tax prep fee to prepare that partnership return. And then number three, there can be and probably will be increased broker fees because you have to set up a trading account under the LLC and you can't use your personal one. You have to set up a brand new account under the LLC using the EIM, the employer identification number for the LLC, and you have to start trading under the LLC. The IRS won't let you take your personal account and change it over. So because you're creating this new account as a business, there can be increased broker fees. Now, we have clients that tell me that they get around some of those by keeping their personal account open and using the free stuff on the personal side and then just trading, doing the trades on the business side. And that's fine as long as the trading is done on the personal side. But there's some ways to limit some of this. Those are the cons of a multi-member LLC. But here's the pros. First of all, you get asset protection. Whatever happens inside of an LLC stays inside of an LLC. So if you're trading assets are in an LLC, it can't get affected by what's on the outside. So if you have some personal lawsuit or something happens on the outside, then it usually can't dovetail into the LLC. So it protects the assets. And likewise, although that never happens because you're trading, but if you have a lawsuit inside the LLC, I don't know why you're going to get sued as a trader, but this is in general, then that doesn't backtrack to the individual partner. So there's some containment there. So your assets are protected in this case. Number two, you also have a choice in taxation methods. Now, what does this mean? Well, when you form a multi-member LLC, you actually get to choose how it's going to be taxed because an LLC is a state creation or as a state entity, let's put it that way. And LLCs are not completely recognized by the IRS. And so we have to pitch and hold it into the IRS tax code. And so when you create an LLC, you get to choose how it's going to be taxed. So like for a multi-member LLC, you can choose to be taxed as a partnership. You can choose to be taxed as an S corporation. You can be taxed as a C corporation. And you get to choose that within 75 days of formation, which is kind of nice. But what's even nicer is we go a couple of years down the road, three years down the road, tax laws change, you can change how the LLC is going to be taxed. So let's say, and I talk to clients about this all the time, they form and they start being taxed as a partnership. And then a couple of years down the road, they file an election to be treated as an S corporation. And later on 10 years down the road, if they want to go backwards, that's fine too. So you can change how you're going to be taxed. I wouldn't do it every year, but you can do that. So that gives you an immense amount of flexibility if the tax code ever changes. Number three, a reduction in IRS scrutiny. Remember what I said, if you do this stuff on your personal return, your trading personally and you report those expenses on your personal return, you have an increased risk of IRS scrutiny. However, if you get it off into this, I'm going to call it a partnership, but it could be S corporation or C corporation. But if you get it off there, the IRS tends to leave you alone a lot more because it's gone out of your way to set up this business. And so the IRS doesn't seem to touch you as much. And I've not seen any audits in my entire life of a partnership. I have an S corp. That was the one exception that I mentioned in, but it wasn't for trading. It was something that the owner did that was a little weird. So you can reduce your IRS scrutiny and still have to pay the taxes on the personal side and still control everything. So it's one of the benefits here. Number two, I mentioned this a little bit ago. If you trade personally on the schedule C and deduct your expenses on schedule C, you have limitations to the home office deduction. That is not true in this partnership. In this multi-member LLC, the home office deduction opens up right away. Now there's two types of home office deduction. There's a, what's called a safe harbor where you get $5 a square foot for up to 300 square feet. So you can get up to $1500 just free from the IRS. But you still have to measure square feet. The other way is using actual expenses. We would take the square footage of your office and the office has to be 100% dedicated to trading. And we would divide it by the square footage of your house or apartment or whatever you have. And that gives us a percentage. And then we can write off a percentage of, excuse me, your mortgage interest in real estate taxes or rent. We can write off a percentage of all your utilities, including cell phone and internet and cable. We can write off a percentage of repairs and maintenance. There's repairs. I've just said repairs. There's HOA dues, insurance. That was the other thing. We can write off a percentage of all of that. So that can be a rather substantial deduction. Yeah. I think we just lost sound for a second. Let's just wait for Jerry to get back. Jerry, we can't hear you. Probably lost connection here. Could everybody hear me loud and clear? Okay, Tony. Thanks. All right. Let's just wait for Jerry to get back. But as we wait for him to get back, hopefully everybody's got a couple of questions. Yep. Looks like he had to log out and log back in. Regarding about some of the, hopefully everybody's writing some questions and get ready to ask him, but I think he's got some really good content. He was covered regarding about the LLCs and what you could write off and what you can't write off. But we're going to open for questions a little bit, which we'll just wait for him to log back in. You missed the first 30 minutes, Tony. Don't worry about it. It's going to be recorded. So, and remember, it's been a great presentation, great. And we like to have him here because this is why you need to know these things. It's not about just understanding how to trade. You got to be able to know exactly why to get in, you know, hold on a second. I just want to do something here. I'm just waiting for him to get back. But you need to understand why you would trade certain stocks and how you could write them off and what you can and can't write off. But don't worry about if you missed the first 30 minutes. It has been recorded. We're just going to wait for John to get back. Looks like he had a little bit of a crash or something like that. But as we wait for him, what did you guys learn so far? Just out of curiosity. What did you guys learn so far from here and from traders accounting? Yeah, we'll send out the email too. If you see that chat, we're going to send out the email to everyone regarding about the recording of the meeting. Question, can each partner, about the home office expenses? Okay. I like that one. How would actually affect for active traders? Okay. Tony says, why you need a partner? Okay. Yeah, that was interesting too. I like that idea. And I also like the idea how he was talking about how the IRS could change things whenever they feel like it, which obviously, you know, they do that. And regarding about home offices and where to open up LLCs and what it really means to be an LLC. A lot of really good content right there on the standing up. Looks like we got Jerry back. There we are, Jerry. My apologies. We had a slight power outage. And so I just messed everything up for a couple of minutes. So I apologize for that. That's okay, Jerry. We got you back. I was just talking to them really quick. And they really, I tell you, they're learning a lot. I mean, I'm learning a lot too. And they have some questions. So, you know, when you get more towards the end of telling a little bit of, let's just kind of kind of answer them. They're already starting to ask some questions right now. Absolutely. So I'll be happy to answer those questions when we get to the end. So, all right, let's go ahead and resume. I'm going to go ahead and share the screen again. And we can pick this thing back up. All right. So we were talking about the benefits of a multi-member LSE partnership, basically. We talked about the home office deduction, how that can be quite a sizable deduction on your tax return. But it's best done through an off return, like a partnership or an S corporation or even a C corporation, although we don't recommend those. Number five, it solves the W2 trading issue that remember I mentioned the conflict of having a W2 job as well as trading full time. Well, that solves that because now on your personal tax return, you've got your W2 job. But what's flowing through to your personal tax return from the partnership just looks like you're investing in a business. And so the IRS tends to leave that alone. And of course, it never touches that schedule C, which is the big thing. I haven't talked about this, but finally, this gets into actually the next topic a little bit, but it solves the mark to market long term, short term dilemma. What happens with mark to market? I'm just going to give brief synopsis. You only want short term trading under the mark to market election. So if you get long term holdings, like you're keeping stuff for more than one year, you really don't want that under mark to market because you're into paying taxes on the unrealized gains that you have in those long term assets. So how this solves it is we recommend our clients keep the long term assets, your securities you're holding for a long term, keep that on your personal side. And then all the short term trading goes into the LLC and that keeps them separate. And then the IRS doesn't get confused. Now, one of the important things about this that a lot of people don't realize and but I like to present it as number seven here, tax savings can pay for the LLC. Now above, I mentioned that you've got the extra LLC fee possibly possibly in your state, you got a tax prep fee and maybe some increased broker fees. By setting up this partnership LLC, the increased deductions you get from it can help pay for all those extra expenses that I mentioned above. So in other words, the government will pay for your LLC. How does that happen? Well, if you've already got yearly trading expenses, whether that's education or data subscriptions or data feeds or subscriptions for software or whatever, the refund you get from deducting those expenses could pay for the yearly LLC and tax prep fee. For example, let me give you an example, then I'm going to prove it. Assume a person lives in Illinois and I just picked that state at random. So the yearly LLC fee is $75 per year. So the person has to pay this every year to keep the license with the state of Illinois. And let's suppose the tax prep fee is about $600 a year. I don't know, it varies as to who's going to get, who's going to prepare your return. So I'm just using this as a ballpark figure and maybe more or maybe less. So the total increased expenses that you have for just for the LLC is $675 per year. Now, assume the person's in the 35% federal tax bracket and the Illinois rate is 4.9%, that 95%, that's a flat rate. So the total taxing is 39.95%. All right. Now I'm going to prove this here a little bit. This person needs $1,015 in trading expenses to get the government to pay for the multi-member LLC. Now let's go back a second. Remember I was talking about that home office deduction and how you generally cannot get the home office deduction or it's very limited on the personal side. If you try to do it on your personal return, but it opens completely up when you do a multi-member LLC. Now think about your living conditions. Take a, kind of get a ballpark, let's say 10%, just as a ballpark number, 10% of your mortgage interest, 10% of your real estate taxes, or 10% of your rent, 10% of your insurance, 10% of your utilities. Do you think that's going to amount to more than $1,015 in this case? Absolutely. So generally we can come up just in the increased home office deduction, we can come up with this and the LLC pays for itself. So let's, let me prove it, I'll give you the proof here. So our trader has $675 in expenses and has a tax rate of close to 40%. Now here's what would happen. The total deductible expense is $675, that's the tax prep fee and the LLC fee. And then you've got the $1,015 in extra trading expenses, could be home office deduction, whatever, could be data feeds, whatever. So you have, this person has a total of $1,690 in expenses that they're going to write off. The tax savings because of writing off that $1,690 at a 39.95% tax rate is $675, the LLC expenses. By deducting those expenses, we got the government to pay for the LLC expenses right there. So more than likely a multi-member LLC will pay for itself. Okay, so let's move on to our third topic now. Now these first two topics, trader tax status and the entity's stuff, those are for anybody. It doesn't matter if they're trading forex, if they're trading futures, cryptocurrency, it doesn't matter. All of that stuff prior to this point is for anybody trading. Now we're going to talk about the mark to market election. Now the mark to market election, this is only for stocks and options traders. Can't be used for futures, can't be used for crypto, can't be used for forex, just stocks and options traders. And even that's a little bit limited because there are certain options, most notably SPX that do not get treated like stocks and options, they get treated like futures. So you got to be careful what you're trading SPX. And there's a handful of those options that are ETFs, I should say, that get treated differently than the regular stuff. So be careful what you're buying. SPX is the big one that people like. That's going to be treated like a 1256 contract or futures or commodities contract. But anything else, the mark to market election can be done on and any business entity or you can make it personally, can make the election provided the TTS qualifications are met. So those qualifications that we talked about for trader tax status have to be in place before you make the mark to market election. So stock and options traders have to meet the TTS requirements in order to file this election. Now this election eliminates wash sale losses. It's a first major thing. If you're familiar with wash sales, basically you incur a loss on a trade in order to get into a better position, if you will. Well, that loss, if you buy it back within 30 days, that loss moves to the second transaction and wash sale losses move in time and some of them eventually move over the year. So like some of them move from 2023 into 2024. Now what does that mean? That means in 2023 you could end up paying more in taxes, hoping to get that back in 2024. And that's what it means. It's really a game that's played and we don't have a whole lot of control with it except for the mark to market election. Secondly, the election eliminates a $3,000 loss limitation without mark to market. And this is true for futures traders as well or anything else. Well, crypto, if you have a net loss during the year, you add up all your gains and your losses. And let's say somebody lost $20,000 in a year. Overall, just everything's added together. On your tax return, you can only write off $3,000 and the remaining $17,000 gets carried forward to next year to be used up against any other capital gains or to have another $3,000 deducted. The mark to market election gets rid of that. If you lose $20,000, you get to write the whole thing off in one year. Now there are cases where we do not recommend this. So again, it's a good idea to get, talk to somebody about this because there are, in fact, this week alone, I've talked to a couple of people who said, don't make the mark to market election right now because, and it explained it to them. So make sure you're talking to somebody before you just jump out and do this. The election must be made at the beginning of the year. So as an individual, if you're going to make it for 2024, then you have to do it between now and April 15. No exceptions to that, which means you cannot do it for 2023 because the election had to be made for between January 1st and April 15th of 2023. You can't go back and amend your return. And if you haven't filed your 2023 return, you can't even do it then. This is an election that has to go to the IRS during that timeframe. For existing partnerships, S-Corps, the election has to be made by March 15th of this year. There is one exception. New entities. So if you create an LLC, like we were talking about, if you create that in 2024, you can make that mark to market election immediately. And you can go ahead and start trading immediately once the brokerage accounts are set up under that LLC. And really, you don't have to notify the IRS until the first tax return. So let's suppose I'm working on this and I decide, I'm going to create an LLC in July. Well, as soon as I create that LLC, I can elect mark to market and then I could put the election with my tax return for that LLC at the beginning of next year, as long as it's done by March 15th. So that is the one exception. So think about that. There's another reason for selecting an entity, particularly a multi-member LLC, excuse me, is to get that mark to market election right away so we can start trading under mark to market as soon as possible. Now, let me talk about a couple of things here. This is an election with the IRS. Basically, it's a letter that goes to the IRS publication 550. Remember, I mentioned that earlier, that does mention this and it talks about what information has to go into that election. So that is something that you can do, but it does have to be done in that timeframe or you cannot do it. I also thought about this a little bit ago as far as partners. Let's say you form a multi-member LLC. Partners, you can have an individual as a partner. Usually we have husband and wife teams, but somebody doesn't have a spouse. Well, then you can get another family member to take maybe 1% of the business and you still have 99%. That's one possibility. Another possibility is that you could set up an irrevocable trust for the benefit of one of your other family members, some heir or even a charity can work, but you set up this trust for the benefit of somebody or something and 1% goes into that trust. Well, you still reneged 99% of it and you got your partnership. If you've got an existing business like an LLC, corporation or S corporation, that can serve as a second part. So there's a lot of different ways to do this. So we can get that multi-member LLC formed and we can get the mark-to-market election file and all of that stuff. So we do all this stuff for you. So let's kind of summarize what we've talked about here and I want to start working towards closing here. First of all, trader tax status allows you to deduct trading expenses if you qualify. So remember those three qualifications that have come out of court cases. Secondly, forming a multi-member LLC provides asset protection, decreased audit scrutiny, and it could be free based upon your tax savings. And finally, the mark-to-market election allows stocks and options traders to pay tax on what was really earned or write off entirely what was lost. That is a huge benefit to stocks and options traders. So if you meet the TTS requirements, I would seriously look at making the mark-to-market election as well. Now very quickly, some things to watch out for in the firm, coming up, prop firms. If you are looking at trading in a prop firm, that changes everything because when you get paid as a prop firm, you're no longer getting gains or losses, you are now getting contract or wages. So you'll get that on a 1099 NEC, now you're subject to self-employment tax. So that changes everything here. So if you're trading it, only trade through a prop firm, then make sure you get advice because there are different things that you can do that need to be. I already mentioned this, some options like SPX are treated like futures contracts. So be careful about that. Some people are surprised when they get their tax return done. The brokers do keep track of it, but you have different tax treatments and you can get surprised by that. Another issue that we're running into is trading other people's money or even giving them advice can create major problems. If you even tell somebody that like a family member that, oh, you need to trade at Tesla or you need to trade at Amazon or something like that, you would now become an advisor and can get in trouble with the SEC. Definitely trading other people's money, that can be problematic. So you have to watch out for that. We do some advising on that, but our advice really is as if possible, steer clear of it. And then of course our contact information. Again, our website, this is a special link for you all, tradersaccounting.com slash ctu. You can get that free ebook and then the phone 809-389513 and then the email learn at tradersaccounting.com. So I'm going to leave that up for a little bit in case you want to write any of that down. And we are going to go to questions right now and I'm bringing up the chat. Well, Jerry, I'm going to start with my questions first. I think I have seen you already. Oh, yes, you do. Jerry, by the way, I love having you on because people will realize how confusing it can get and everybody wants to get involved and so on. And they got to listen to someone that does this all day long. And you know what? We try to have Jerry on as much as possible because the more you keep hearing out, the better it is. But you got to contact them. Make sure you take that link and you get that ebook and make sure you put ctu at the end of it. But some of the questions that came up and just to reiterate because some people logged in late and I know you covered a lot and it has a lot to do with Cybertron University. So can you write off education? Yes, absolutely. That's one of the big ones that people write off. So as long as it's related to trading, yes, you can write it off. You're correct. So everybody got that? Because a lot of people like this is the issue I have. Some people want to trade and they're like, well, let me try it and see if I like it. Then I'll get education. I'm like, listen, let me ask you another question. Can you write off, if I send my kid to college, can I write off their education for a decade of college? That gets a little bit tricky. Then we have to start talking about payroll because you need to treat them as an employee and doing payroll and then the college can be a benefit as a result of being an employee. But you have to be careful about that. So what I'm basically trying to say here is you basically lost your slide there. But that's basically what I'm trying to say. So you're going out there and you see how people think they want to go to college. They think, well, it's a lot of money to go to school, don't want to write at all. But let me try it first before I go to school and learn it. But here you have an opportunity where, no, you're running as a business. These business expenses are tax deductible because this is your business. You've got to treat like a business. Even if you own a business and you go to like a trade show or whatever, you could write that off because it's a business expense. So you've got to get learned how to trade first. And then what was the other one I had? About the prop firms too. So prop firms were popular in the past. They started to make a little bit come back, but I think people have to understand with the licensing and this and that. And I know you mentioned earlier, you've got to be so to be very careful about giving advice. Like one thing what we don't do here, I tell everyone with the bat, we don't tell anyone what to buy and sell because that's illegal. You have to be you've got to be an advisor to do that. We could show you what's moving, but you've got to hit the button. And like he said, you can't tell somebody because SEC, more or less the FTC is probably the worst one. They say the same thing. So Skip says C2 training is an educational expense. Yes. Yes it is. Okay. There you go. All right. Now any other questions people had in the chat? Well, we got something by Richard here talks about why not use a multiple income beneficiary revocable trust. There are issues with trust. Revocable trust generally do not have EINs. They are just kind of a blanket trust that cover assets, but they don't file tax returns. So you have an issue setting up even a brokerage account under that trust because it doesn't have any EIN. So I would seriously avoid some of that stuff dealing with revocable trust. Those are good for protecting your assets, but I would not recommend them for doing anything with like irrevocable. Don't use revocable trust. Let's kind of steer away from that. Okay. Okay. We had a couple of the questions up here. Richard had a big one. Why not use multiple income beneficiaries, receivables, trust? That's the one I just addressed. Let's say this, I was told that MTM is applicable only to individuals and not for entities. That's not true. Any entity can make the mark-to-market election. Matter of fact, we do it all the time for partnerships and S corporations. So any entity can make it. Now I have a question regarding about what you're doing and why you're here. Like, could someone have that, keep their accountant, have you as a supplement or it's like one or the other? Yes. Matter of fact, if you do the multi-member LLC, we can prepare the 1065, which is the partnership tax return, and then you can have your own accountant prepare your personal return. We have clients that do that as well. So that's perfectly fine. Okay. That was one of the things I wanted to ask you. Okay, we've got a couple of more coming here. Will, of course, a question, is educational expense only if you qualify under the TTS? Yes. You can only deduct these expenses if you qualify because they want to be able to show that you're treating this like a business and have a legitimate business reason. So you've got to meet those qualifications. Remember, Will, and this goes to everyone. The reason why you're doing this, you're doing it as a business. That's why you're here. Trading is a business. We teach it as a business. This is not like just sitting there and want to just play around, make a couple of trades, and see if it works out or not. If anyone here owns a business, you know that you can go out of business pretty quickly. So you need to have the right stuff there. Absolutely. Going to the next question, I know you want to get going on to your other part of this. Tony says, I did a home office deduction for many years on a schedule C in a 4562 and 8829 and didn't have a problem. So it's different about the LLC. You may not encounter a problem. And I don't know if your schedule C was for trading or for what, if you're having a profit in your trading business, then there may not be a limitation to the home office deduction. And a lot of times I see preparers fixing that. Are you doing that wrong as well? But anyway, but if you're losing money, then there's basically very little that you can take on the home office deduction. So it can be a problem. And you may not have gotten audited from the IRS. That's fine. You know, some people do skate through because everything looked good, but it is like rolling craps. Eventually they're going to come at it and look at your schedule C. Steve asks, is it more favorable to trade futures versus stocks? I am going to, if you're making money, and this is hard to predict, but if you're making money, it's more tax beneficial to trade futures. If you're losing money, it's more beneficial to actually have a marked market election and trade stocks and options. Having said that, not everybody can do that. Trading, like I said, is psychological and you have to trade in what you understand. So some people understand futures and cannot get a handle on stocks and options. Other people, they'll trade Tesla, like I mentioned a little bit ago, they'll trade that because they understand that and they would get wiped out if they traded anything else. So it would not make sense for them to trade in a future. So you really have to be, and of course some people are forex, some people are crypto. So you have to really be in the field that you really understand, whether it's one stock or it's all the futures or whatever, you have to really be in your niche, if you will. That's an interesting question. Yeah, I know a lot of people always ask me, and you know what, getting back to that question, please don't go out there and trade options because the tax benefit. I know a lot of people like that story, but listen, if you're not making money trading at certain options or futures or crypto or stocks, maybe you have the wrong instructor or you just don't really, it's not your style. So yeah, it has a sexy story behind it, because that's the same thing that people trade with options that I have, people like, oh, I want to trade options. And I heard it's got to be leveraged. You don't trade options because of the leverage, you trade because of the strategy. You know what I mean? You're good at. So don't worry about, like I go back to what you always say, listen, don't worry about making money. Paying tax on the money you made, that's a good problem to have. No, absolutely. And you can use another analogy is NBA players make a whole lot of money, but I am not going out and trying out for the NBA next week when they're not going to have me. So you've got to go where you have the ability to trade. Anthony says your trust can be your partner in a multi-member LLC, not a revocable trust because revocable trusts don't have EINs. They don't file tax returns. An irrevocable trust can be. Now, the difference is you can't take stuff out of an irrevocable trust. Once it's in there, it's in there. And generally, it's on paper. And that trust, the irrevocable trust, does have to file a tax return if there's over $600 in income in the year. A lot of times that doesn't happen. So, but the trust can act, irrevocable trust can act as a partner. Skip says, can each partner deduct home office expenses? Yes, if both partners are three partners and they're all trading, then they can all have their home offices and they can deduct that on the return. Can you have an S-Corp own the LLC? Yes, you can. The S-Corp could be one partner. You could be the other partner or multi-member LLC. There's a lot of ways to structure that. So I would talk to somebody about that. But yes, it is possible. I think that's all the questions we got. Yeah, that's all the questions. So anyway, I really, really appreciate you being here. I know we ran a little behind, but you know what, Jerry? I mean, it's always a pleasure having you on here and I'm looking forward to having you back again. And everybody just learned something new. I mean, I learned something new, but also I want to kind of reassure it. And no way you reason learn new things because the taxes keep changing, you know? Yes. And you know, I heard everyone know who heard the rumor that they hired 80,000 new IRS agents. So yeah, we'll see about that one. We'll see about that, right? Okay. Let me go ahead and address this last question if you've got a second. Sure. Can an LLC S-Corporation be utilized for trading? The answer is yes. Now, let me explain the problem because I didn't mention this in the presentation. S-Corporations have a requirement that the officers are paid a salary. So now you've got a payroll component that does not exist in a multi-member LLC. So what we recommend to our clients a lot of times, start off at the multi-member LLC. And then if you're doing well, we can always file to be treated as an S-Corp later on, and then you can start the salary component and then link to the salary component then is pension stuff or retirement benefits. So that's where a lot of people go. But you don't want an S-Corporation right away because you do have that salary requirement. All right. And we'll end it with that, everybody. And I'm going to pick up now and go into how we're going to trade 2024 and what to look for. So don't go anywhere. And we'll let Jerry go on his way. And thanks again, Jerry. Look forward to having you back. All right. Thanks, Val. So it was a pleasure to meet or be with all of you. Take care. Stay in here. Bye-bye. All right, everybody. With that said, I'm going to pick up from here and we're going to start talking about how to trade today's market. So let me just get the record up and running. Thanks, everybody, for being here. And we're going to talk about how to trade 2024. Let me get my little cam up here. I'm running. There I go. I can see my area. Perfect. All right. So if you're watching us on social media, like I said, I hope you guys enjoyed the presentation that we had before. We do these events. We have events all day long. We have, I can say, we have hundreds of partners that we work with. I've been doing this for over 30 years and some of them have some content that could really, really benefit and look forward because moving forward, that's what we're going to be doing. We're going to bring up one of our great little gurus regarding if it's taxes, if it's options, swing trading, any type of investing, and then we're going to pick up from here. So let's get right into trading 2024. How are we going to do this? Well, first, like anything else, just a little quick little disclaimer from the attorneys. Want to make sure that we're not making any guarantees of promises. No warranties. We're here just strictly for educational purposes. So, but I please always stress, be very smart before you go out there and trade and invest in today's markets. Now, if everybody has their phone, what you could do is we'll post up the link really quick, but I'm going to invite every single one of you to come to our trading room. Everything that we're going to talk about, we're going to practice what we preach. So, if you register now, I'm going to give you a bonus. Register now. I will actually give you a free coaching class if you register right now. I will talk to you on the phone and we'll go over your trading. So, if you want to jump the line, I'm only going to be giving away 20 of these seats because I can't talk to everyone. I have a busy schedule over the week, but go into the room, register, scan it right now, but everyone here is going to be invited. And if you're not ready to do it, don't worry about it. We'll cover it at the, I'll show it to you again in the afternoon. So, there's the link if you missed it. All right. So, let's get right into and see what's going on right now. So, there are a lot of good stocks that are moving in the market. And my goal is I'm here to show you what's moving and what's driving them. So, I'm going to bring up my execution system right here. Can everybody see this okay? Can everybody see my screen okay? Just give me a chat. Okay, perfect. All right. So, I got that up and running. And what I also want to show you is, did it, hope I didn't X out of it. Yes. Let me bring it back up again. All right. So, what I'm going to be focusing a lot, I'm going to talk about NASDAQ, I'm going to talk about level three. Now, does anyone here have level three quotes? Maybe here have it. So, if you don't have it, here it is. I'm going to show it to you right here. Actually, let's do a poll. Yeah, there we go. Let's do a quick poll. By the way, if you're a student of Cybertrain University, please, I know we have a lot of students in here, please don't reply back. Okay. Let's see how everyone else answers this question. Okay. So, all right, perfect. So, here you have level three quotes. And basically, we could look up any stock that's moving in the market. So, somebody give me a stock, any stock, any stock that's moving. Actually, let me put this over here to kind of like give everybody maybe a better view. Let's end the poll and let's share it. Tesla. Okay, we'll get Tesla. Okay. You know, I like Tesla because Tesla was really good. Actually, Tesla is probably the most popular viewed stock out there in the market. Okay. So, you can see Tesla. What we're going to look at is here is this. I'm going to set up these filters. And I'm going to show you what I'm going to do. All right. So, let me bring up Tesla right here. And let me do one other thing here. Oops, another thing, open screen. So, we can see two screens at one time. There we go. So, here you have Tesla. And Tesla is obviously taking a very big dive. Let me share the results with you because everybody sees the results on how everyone trades. So, you can see a lot of you don't have it. So, here you could see that Tesla has been on a big downtrend. Now, why is this stock going down? Why is this stock trending down? Does anyone know? Let me see what everyone's question is. Why is Tesla going down today? And don't tell me because the Dow is down 200 points because this applies to every stock. It applies to Tony, what you called out everything. Failed to break with too many times? No, that's not the answer. No. Margaret hit the nail right in the head. Is Margaret the only one that has knows the answer? Okay, there we go. Chris, too many sellers. Very good. That was Richard. More sell. Could everyone just say a lot of sellers? Just write sellers. Elon Musk, Anthony. I don't know if you're kidding around or you're serious, but if you're serious, you better quit trading right now. There's nothing to do what he does. It all has to do about supplying demand, buyers and sellers. Let's kind of be focused here and let's not really, like I take money really seriously. I don't joke around. I teach my traders because listen, it's a 90% failure rate and you don't want to be part of that 90% failure rate. Let's get right into Tesla. Tesla, you could see right here that the stock has a support level right around $226. You see that right there? Okay. Now what I want you to do is I want you to look right here. Hold on one second because I have to move some stuff around over here. I've got too many windows opened up. Okay, so I just got to get my crayons out here and there we go. So right here is 260. Everybody see this right here? Everybody see that? 260. 141 orders out there. It's 10,000 buyers and 8,000 and then you got another 50,000 right here at 225. But this is the number I want you to focus on. $225. There's a 121,000 share buyer out there. Okay. Now you're looking at Tesla coming down. Where is there more of a more of a demand for it? Around 260 or 225? Can anybody answer that? 225, right? Now Manny, Tom, Raymond, all you traders out there, can you tell me, do you think you know more than the 5,638 people out there that make up that 120,000 share buyer out there? Right? Not yet, right, Tony? But you will now because you're here because you want to learn and know why that is. And not only that, I even got something better that I'm going to show you. And there's going to be something I'm going to show you that even is going to even show you to confirm that that's going to be a really big buyer. And if that guy's really like at the end of the day, who is that person? Why is he buying it? That's what we hear and that's what we hear to learn. So let's get right into it. And let me bring back my PowerPoint. It's over. Oops, got my crayons out here. Clear all. And let's click over here and go right back to the slides. All right. So before we get started, I want you to understand, I was you 30 years ago. Okay? That's basic because listen, I wanted to I didn't understand how the market went up. I got myself in trouble. I'm 52 years old. I started when I was about 22. I was a little puppet, a little kid back then. And the thing is, fortunately, I live here in New York. I was trained by some of the best traders in the world. Some of the biggest traders in the world are actually members at my country club. And I'm telling you right now, you're not going to beat them. Okay? But I can tell you one thing, you're going to be able to join them. And that's why we hear and how we could join them because we're going to find those big buyers like in Tesla and knowing where the big support levels is. Is it too late to buy it? Should I buy it here? Should I sell it? All those big things that we're going to cover. Now, I've traveled around the world. I competed against everybody in the industry. And the thing is this, a lot of these people, you know, that teach you, you got to make sure, are they traders? Are they market makers? Now, I try to surround myself with some of the brightest and most best people in the industry. And let me tell you, they love trading. They love people like you that going out there want to learn because by you being a good trader, you keep them in business. You keep a very good environment in trading, but there's just way too many, you lose money in trading. And we have to stop doing that. Why is that? Because we have too many self-court individuals. We have too many people pretending that they think they know how to teach people how to do it. And that's what we need to kind of square out. So with that, I'm going to give everybody my book, okay? It's published by Wiley, one of the biggest publishing companies in the world. And they came up to me. They said, Falstow, we want you to write a day trading book. Well, guess what? It's not only about day trading. It's going to be about swing trading and everything else. But I'm going to give it to you. You can go to Amazon, you can buy it now for $47, or you can give it to you for free. So don't go anywhere at the end. And it's a great book. It's color. It's a fast read. Probably take about an hour or two. But I can guarantee you're going to probably read it two, three times. Now, I am going to be on Nasdaq next week. I don't know if you guys follow me on Nasdaq, but I'm what a regular guest there. I actually teach and talk about how to trade on the exchange. And I'm looking forward to it because the big, by the way, has any of you ever seen me on Nasdaq? Because the last couple episodes, I'm talking about the crypto exchange, the ETF that went public. And, you know, not to where people talk about it, but as traders excited, well, we all know what the news was yesterday. And that's why you got to buy on rumor and sell on news. How do we know that? Oh, no, I'll just sell you. I'll show you right here. Look what happened to Coinbase. Okay. What happened on the news? Stock had great movement. The news was out. Stock went from $70 to almost $190. News came out. Actually, some bad news came out on it, but people like one foot out the door, one foot in the door, and now look at it. Went to $160 down to $140, down $20 just on today. Buy on rumor, sell on news. You just learned how to be the witness of it. Can you please tell us what software that could see to shares, the buys and sells to subscription? Sid, we're going to get to that. Okay. We're going to get to that. So don't go anywhere. All right. That's going to be part of the... I'm going to cover that stuff. But let's go over here. But let me tell you a little bit about my upbringing. So I'm first generation Italian, and I've been married for 25 years. I've got three wonderful sons, married to my beloved wife, Debbie. And I tell you, I love trading, and I learned this from my parents on my upgrading. But my thing you have to understand is if you want to be good at something, you got to find people that are very good at it. Okay. You can't always try to get the best. We always want the best for our kids, want the best for this. But my father says it's going to be almost impossible sometimes to get the best of the best. And even though when you meet the best, doesn't mean that he's going to... He's good for you. Okay. So that's why I always tell everybody, go out there, learn from a couple of people out there. Don't be sold on one person. And then just because you've had a bad experience with someone, thinking he was the best, you probably just didn't find the right person. But what I learned from my dad that taught me, he says, listen, if you want to be successful in life, you can't just go out there and do it. All right. You got to be trained behind someone, no matter what a cost, what it takes, no matter what the sacrifice is. But if you want to be successful in business or in trading, whatever it may be you're interested in, you got to surround yourself that people are very good at it. So as I said earlier, I'm going to invite every single one of you to come and watch my traders, which I'm going to share to you right now, which is going to come into my trading room. And over here on the left-hand side, these are all my traders on the left. And these are all my instructors chatting and working with them and showing you stock and do live audio, all this good stuff. You're all going to have access to this, every one of you. Because we want to make sure that you know what you're getting yourself involved in before you go out there and do it. And that is basically my second family. So I got two families. I got my family, my everyday family, which is really my traders and my night family, where I go home and make nice, great dinners for and go away with them. So I'm looking, it's not about me, it's about you. So let's get right into it because trading is a, it's like a private club, it's a fun club, and you all want to be part of it, but you got to know if it's something for you or not. You got to make sure if you're able to figure it out and know how to play the game. So the question I have to ask everyone and whoever's running the poll, if we could run that poll really quick, is can I put up that poll? So can everyone just tell me what kind of trader you are? So just, let me see if I get the poll up there really quick. Who's in the room? Because I'm having problems controlling the poll. Anyway, or you just put it in the chat, just put it in the chat. Tom, swing trading, okay? Newbie, Jan. All right, no problem. Good. I love newbies. I love newbies. No bad, no bad habits, let's say. Stocks, stocks, okay. Good options. Day trading, swing trading, Ken. Andrea Dunson swing trading, some forex beginner rolling. All right. Oh, there we go. We have the little poll up there if everybody could just click on it now. Sometimes it's easier just to click the buttons, right? All right. Now, as you guys are filling that out, let me just tell you what I am. I'm actually a day trader. Ooh, day traders. I heard you lose a lot of money. Listen, day trading is the easiest thing to do. You know what the hardest thing to do is? Swing trading, options trading, and I'm not trying to be biased. It's just that what makes an option move is the movement of the stock. So how do you guys know what option to trade if you don't even know what the stock is doing, okay? And a swing trader. How do you know what to swing trade if you don't even know what's happening over the course of the day if it's going to trickle into something longer, okay? So listen, I option, I do swings, I do everything, but I like to sleep at night. And I know how to sleep at night by knowing what stocks that I traded long-term by seeing what happens over the course of the day. And not only that, there's a lot of good trades that we trade over the course of the day, which makes things very easy. So I'm going to share this poll with you and you could see everyone going to share the results and you could see, good, we have a lot of stock traders. And let me tell you, stock trading is just black and white. You're just in and out. You see buyers, you see sellers. You don't have to worry about these crazy indicators and all that crazy stuff. That's where it is. Now, the next question I have to ask everyone is who trained you? So I'm going to do another poll question. Who really trained you? Now, please don't be embarrassed. Don't be shy. Don't be scared, okay? But who really trained you? You know, was it a professional trader? You know, yes or no? You know what I mean? And what I mean by professional, I mean, like, did you take a class with somebody, a paid force? Now, if you're a student here, please don't answer this question. Once again, because we want to share this and kind of see the difference out there, all right? Or you can change your answer. Okay, well, don't worry about, no one can see your, you know, any chat. So no one could pick on and say who it is, whatever it is. But I'm going to share the poll right now and end this poll because then take too long of it. So you can see we're about 50-50. So I would say it's a little bit higher than that. But I'm glad I see it. You know, I could see a lot, a lot of you are learning from all the people because it does start from that and that's great. Okay, that's awesome. And that's why sometimes you got to listen to a couple of different people out there, you know, what works your style, what doesn't work your style. But let's talk about some stocks. Maybe you traded this week. Well, you're not not me, but maybe you did. Okay, so maybe you traded Apple. You know, Apple had a nice move, you know, $91 stock. By the way, can anyone afford to buy a thousand shares of Apple at $191? And if you guys put $193,000 idea, I'm not getting too many yeses. Okay, but probably trade the option, right? Yeah, of course. How about NVIDIA? NVIDIA, what a great run-up. Wow. So is it like 5.50 now? Oh, I wish I had NVIDIA, which had the options on it. Well, why don't you buy the stock? But $400, had a good move, really good move. Okay, Tesla too. I mean, now it's down, but Tesla $232 stock, you know, it's like three digits, like expensive, right? Well, how about this stock? Did you catch RXRX? RXRX went from $9, okay, up to $14 in the same timeframe. That's over a 50% move. And by the way, I don't think Apple, Tesla, NVIDIA went 50% in a couple of days, did they? All right. So look what happened over the course of the day. Went from $960 to $11, okay? So what do you think about that? That was just a couple of days ago. How about this? All the way up to the ninth, the stock ran to $14. By the way, what the hell is RXRX going up? Like, what does the company do? That's the first thing people ask me. Oh, like, it's here right there. It says it's a pharmaceutical stock. Oh, I don't trade pharmaceutical stocks. They're too risky. I don't know. I don't know this company. What do you look? What kind of drug? Does it matter? Does it matter if you sort at 9.30 and at 10 o'clock by time you figured it out, the damn thing already ran a buck. Okay. If you bought a thousand shares of the stock at a dollar and you made $1, one whole dollar, that's $1,000. That's a quarter million dollar salary at the end of the year. Okay. Who here wants that job? Raise your hand. Okay. Does it matter what RXRX does? Well, now you might ask yourself something very, another question. How do I miss these stocks that pop like 50% and over the course of four days in a row? Like, how does it keep going up? 50%, 50%. Like, I hear about them. I heard about them. They almost sound like unicorns. Never seen one. Well, you're going to see them. You know, why are you going to see them? Because I'm going to invite every one of you to see them every day. I want to talk about one, several of them. And I'm going to tell you my secret sauce. I just go through the big percentage gainers and losers. That's basically it. And we're going to go through it in the next few moments. You see, finding them is not that hard. You know what the hardest thing to go out there is to be disciplined enough to know, is it going to continue? Who's running it up? Who's running it down? You see stocks like DVOS of 300%. 300% in one day? Oh, that's a fluke. Okay. What about CYTO up 125%? What about all these stocks? Game stop up 29%. Some people wish like, oh, I want to make 10% a year on my money. I'm not the 10% a year money type guy, okay? But I'm not looking to lose it. But finding them is not that difficult. And when I invite you into trading room, you're going to see it all day long. But trading is a certain time. And I even came out this little mouse pad. You can actually buy it on our website. Actually, we're going to start selling on Amazon shortly. But it's not a full-time job. People are like, well, I want to trade. I see these stocks. I don't know when to get in, when to get out. Trading is not a full-time where you need to kind of get in at certain times and you got to be there. It's really a part-time job. I mean, if you want to make a full-time, you could. But listen, we only trade the first hour in the last hour. That's about it. And depending on where you are in this world, you could trade the morning. Maybe you're West Coast. You could trade the afternoon. Maybe you're over Europe. You could trade early, early pre-market. There's always opportunities when to trade, when not to trade. But there's also times where it's more volatile and less volatile. And by the way, do not be scared of volatility. Volatility is a good thing, okay? If the stock came moving, you're not making anything, okay? And then all of a sudden you forget about it and, bam, the thing drops on you. You do not want to do that. So, like I said earlier, finding them is not the problem, okay? What matters to you is the buying and selling that goes on. And that's where we're going to get into the fun part of it. Now we're going to talk about following the big money. Now, how do I know this is because I was that ignorant 22-year-old kid 30 years ago that thought I knew everything, okay? Because I was a good video game player. I was good at Nintendo back then, okay? Now you got everything. You got X5s. You got all these Xboxes crap and everything. But it doesn't come to that. It comes down to, you know, is not trying to be smarter than the other guy. You don't want to be the smartest person in the room, okay? You just want to know where the smart people are, where the smart money is. And I'm going to talk about these new executions, these vehicles, believe it or not, has not changed since I started. And it's amazing a lot of people are still not using it. So let's go into it and show you what I'm talking about. I want to bring up something called NASDAQ Book Viewer. Now I know we just did a poll and it's amazing how many of you don't have it. Now you really all have to pay attention here because what I'm about to teach you and what you're about to see is going to be extremely disturbing. And what I mean by disturbing is because you're going to realize that you've been trading blind and been lied to from everyone how to trade the market because I'm going to teach you how to trade the market. Now, like I said, that's a video, that picture right there, that's me on TraderStalk with Joe Maranjon. I'm going to be on next week, okay? I'm in there for almost, it's almost like, I don't know, several years now, probably almost a decade now. They want you, the exchanges want you to know how to trade. If you knew how to trade and understand the tools that they give you, because this is what NASDAQ, this is how NASDAQ trades. Believe me, they invented the market, how it trades today, you know, because everyone, even New York Stock Exchange trades this way. But let me stop chattering and let me start getting show you what I'm talking about here, okay? So, right here, these are your buyers and these are your sellers, okay? Now, you have three columns. You got the buys, the amount of shares, and the orders. On the buy side, whoever wants to buy the stock for the most amount of money is up on top. Whoever wants to buy for less money is down at the bottom. Whoever wants to sell FedEx for the least amount of money is up on top. Who wants to sell their shares for more money is down at the bottom. So, what you're seeing right here is a chat room. You're seeing every single order in the entire world on the exchange who wants to trade FedEx. That's basically what you're seeing. Yes. So, regarding, Tom has a good question here. So, the question is, Book Viewer, is it the only showing orders through NASDAQ or does it show you through Bats? No, it doesn't show you Bats or EDX because those are different exchanges, okay? And you can get those two and I'm going to cover that in the next few moments, all right? But right now, NASDAQ probably controls about 50% of the volume in the market. The other 50% comes from the other exchanges like the New York Stock Exchange, other ECNs and that's, you know, but listen, some of you don't even follow 1%. Some of you don't follow any percent, right? You don't follow anything. So, let's just focus on NASDAQ because those other ones are going to be a little bit more difficult to get. This one, I'm going to show you everyone where to get, okay? Because just seeing this is going to blow your mind. But let's just keep them, let's keep focused what we got here. Buyers, sellers. You get to see every buyer out there and every seller out there at every single price. Now, let me, let me change the slide here. How do we use this data? How does it work? Well, I assume, and I hope I assume, but I assume everyone knows what support and resistance levels are, okay? Support where the stock, you know, has a support and goes up. Resistance is when a stock hits a resistance levels and comes back down. So, right now we look focusing on a support level and we'll look at Roku. And Roku, you can see right here, we're from $95 all the way down to $93.30. And then $93.30 went back up to $94.50, came back down to $93.30, went right back up to $94.50. Why did the stock Roku stop at $93.30? Why not $93? Why not $94? Why didn't stop at, why did it pick $93.30 out of all the numbers out there? I'll tell you why. There must have been some buyers out there and exactly right, Tom. If you look over here on the NASDAQ exchange, you'll notice that there's a 21,000 share buyer out there. Now, some of you might think like, I don't know, is that really a lot of money, like a lot of shares and sound like a lot? Well, when you go to exchange, you see people looking to buy 24 shares, 200 shares, 300 shares, 100 shares, 21,000 is a lot. You might not think this and this is where people get shocked. They're like, wait a minute, that's all the people out there that are on the big looking to buy it? Well, how many of you are trading Roku right now? And how many shares do you own in your inventory? And do you have your limit orders out there? Just because people own it doesn't mean they have orders out there, right? Like if you own a stock right now, how many of you here have limit orders out there? Okay, because you did, it'll be here. Not too many of you, but you're seeing these limit orders. These are the program trading you hear about. These are the algorithms that you talk about. These are the institutions that you're hearing about. These are the dark pools you're hearing about. Now you're going to see it. So here's your buyers. So if you want to know why the stock is bouncing off 3930, that's your answer. Now let's talk about resistance levels. Why does the stock have a tough time breaking resistance levels? Well, here is NVIDIA. NVIDIA had a huge seller of 125,000 shares and there were 2,000 orders around the entire world that made up that 125,000. So when you want to try to figure out why the stock go from 500 and in 10, 11, 12, 1, all of a sudden, boom, thing drops 20 bucks, you know, and why I don't know why. Did you know there was 125,000, 125,000 shares out there, which by the way, how much is that? Oh, simple math. It's definitely over a half a million, $550 million worth of stock. Okay. How many of you here are watching the stock and knowing where those big, what we call iceberg orders, which is a big block order? How many of you are here seeing those? Later, I can let you know the difference between dark pools and investors and yes, we'll talk about that right after. Why have you never heard book viewer, this is gold, Tom is saying. I love that comment. You know what? I'm going to share that with everybody. That is awesome. And let me tell you something right here. Tom, I didn't even scratch the surface. Okay. This is just the beginning, but I'm glad that you're paying attention and everyone else is here because you'd have to start learning how to trade smarter. Okay. And smarter is you don't want to be the smartest person in the room because you don't need to not trade 125,000. Okay. 2,900 people did, 2,009 people did. So the big thing is this. I want you to look all at on top. You see what says sellers equal resistance. You see everybody's looking for supports and resistance. And I tell you, you're doing it backwards. Okay. Resistance does not exist unless the sellers are out there. And the reason why everyone's focused on the past, oh, where's resistance? Let me look back two weeks, two months, two years. Listen, that's great. But the resistance in the past is not indicative of the future. If those orders that resistance that was in the past and those sellers that were in the past should be in the future. And if they're not there, you don't have resistance. So keep that in mind. Now let's check out some examples this week. Amazon. Okay. Amazon is, you know, breaking new laws. Now where's it going to bounce? Let's kind of, I'm going to ask everyone, where do you think Amazon could bounce here by looking at this chart? Anyone know? What do we, or how about this? What do we need to know where the stock is going to start, you know, bouncing from? Do we need an indicator? Do we need a Fibonacci? Do we need, you know, we need Kramer to come out and promote it? What do we need? By the way, if you can't answer this question, you've been not trading. Okay. Garrett, you're right. Raise laughing because I said Kramer. Anyone else? Buyers, right? We need buy, right B. You know what? I'm a little upset. I'm a little disappointed. Chris, I didn't hear from you. Chrissy, could you talk to him? Could you share? So I mean, do you know how to trade? Chris, are you following along? Anthony, I didn't hear from you. Joseph, I didn't hear from you. Ralph, Tim, Michael, come on guys, don't be embarrassed. I'm not here to talk and hear myself talk. I'm here to help you. If you can't answer this question, you should not be trading. So the answer is, yes, buyers. Okay. Now let's go over here and find out where the buyers are. Can anyone here tell me where the buyers are? Because we have to look at the buy column and we need to find out where the buyers are. Where are the buyers? Tom, you're right. Danny, you're right. By the way, the people that are answering me are not my students. These are all people like you and you know what's amazing? Look how fast some of you are just starting to learn how to trade. So if you said $149 at $78,000 shares with $291, you are absolutely correct. Congratulations. You just figured out where support level is. So did you need an indicator to tell you that? Did you need Kramer to tell you that? Did you need some newsletter to tell you that? Did you need, you figured it out on your own, right? And guess what? $1230, $1.30, $1.30, $2.00. Never wanted to go past $149. And then finally you're like, my God, what made that stock go from $149 to $150.60, you know, $150.60? Well, supplying them in. It's as simple as that. So let's look at PayPal. All right. So PayPal is going down. Okay. We obviously can't see support levels, right? Because let's say you're still not convinced. We're coming up to $109,000 share buyer. What do you think is going to happen when we get to $59.35? Is the stock going to go up or go down? What do you think? Up or down? It's going to bounce a reverse at top. Okay. Andrew says up. Raymond says up. Jan says down. Steve says up. Sid says going up. All right. So what looks like a majority of saints going up? All right. Well, congratulations. You're right. My God, you guys are figuring this out so quickly. This is awesome. When you come into the trading room and you start seeing this, you're going to do great. Okay. Now, did a Fibonacci need to tell you that? Did a candlestick need to tell you that? You know, I don't think so. I think you figured it out on your own. Now, how about resistance? Maybe let's see if it works towards resistance. Okay. So Microsoft, big resistance levels right here at 372 and all of a sudden the stock is going up. It's breaking new highs. Right? So in theory, what is the direction of the stock doing? It's going up. But we've got a problem. We're coming up to 100,000 shares seller at $3.33. 69 people out there make up that 100,000. Now, when you look at the buyers and sellers, 200 shares, 201 shares, 205 shares, 500 shares, 600 shares, that's a lot of sellers out there. That's a big order. So we think it's going to happen. We get to, what do you think in theory we need to do when we get to 373? You're damn right. You better get out because guess what? It hit it. It hit it. It hit it. 9, 30, 10, 10, 30. All of a sudden it goes from 373 all the way down to 370 and some of you sitting there wondering I had no idea that was going to happen. How did I not see that? Well, did you see the orders out there? Let's look at Moderna. Maybe some people, you know, everybody know Moderna. That was the company that, you know, with the COVID shot. Stock did amazing. Right? So here it is. Stock Moderna is going up. Nice little push in the morning. Right? Still breaking new high, still going higher. 106, 107, 110, 115, like, oh man, am I too late? Well, the markets only open up for an hour. I don't know. An hour coming up to 116 and we got a 44,000 share seller out there. That's a big order. That's a big, you know, a big order to tackle. Guess what? You're sitting there now, you're contemplating like I heard the good news on it, whatever it is, but it's hitting there. It's testing. It's testing. It's testing. It's hitting that resistance levels and it never broke it and now went back down to 110. And that's how you convert a winner into a loser. Now, did I lose anybody? Did I lose anyone? No, right? Good. Following along Donna. Now, was that hard? Was that complicated? Was that confusing? Because, you know, we just had a tax attorney accountant come on and he's talking about LLCs, C-Corps, you know, all these different types of waves of counting and now you know why you need an accountant, right? If it's that easy, you know, we would do it ourselves, but we don't. We need someone like that because he knows the tax law. But when it comes to this, did you need a stock broker to tell you that? Did you need some analyst on TV to tell you that? No, you didn't. And that's what trading is all about. I love that one. It's almost unfair, right? That is awesome. I like that. I'm going to share that right. Oh, we posted it anyway. There you go. That's got to be the best line I've heard all week. It almost sounds unfair, you know, without this tool, okay? So what in the hell are you waiting for, right? This is why I love teaching. I love getting you people in here. And, you know, some of you are watching me on YouTube, some of you are watching me on Instagram, you know, maybe you watch some of my cooking, maybe you watch my cooking channel. I actually have a cooking channel because I'm so, I have so much fun doing this that sometimes like I, you know, I'll be out here and trading and I'll go out and cook it. I'll bring it back and it's a hobby, you know what I mean? Because it gives you the freedom to do that. Now, who here wants Book Viewer? Who here wants to get it? Well, this is what I want you to do right now. That's my email address. Write my email right now, falstopeeatctucorp.com, okay? And just write me an email right now, okay? So, falstopeeatctucorp.com, I want Book Viewer and I'll tell you where to get it. I'm not going to give you the web address because I'll tell you why. You're going to end up getting it and you're going to get confused. You're not going to know how to set up the defaults and you might do more harm than good, all right? So I have a workshop I want to give you so you can watch how to set up a very short video, okay? But the worst thing you could do is, you know, I could tell you, I'll give you an example. Anyone would tell you, like, wow, this is the greatest restaurant in the world. You got to go there. You got to get to this restaurant. It's impossible to get a reservation. You finally go there, right? You don't tell the person you go in there. You end up getting in the restaurant. You go eat there and you like the food stock. And you call, you go to your friend like, you know what? You told me all this great stuff, all these celebrities and this and that. The food wasn't that good. Nobody was there. And like, he'd be like, wait, wait, when did you go? Oh, I went there for breakfast. Breakfast. Breakfast. Supposed to go on this time. You're supposed to order. Would you order? Oh, I ordered it. Nobody buys that. You got to supposed to order this. You understand what I'm saying? Same kind of metaphor, I would say. So let me go out there and show you how to do it and do it right, okay? And I'll put it in the chat too. Actually, I put it in a chat. It's easy. Just click on the link and it'll bring you right to your inbox. Just copy and paste it. It happens, right? Right? It happens. All right. So let's go check the live markets really quick. So I want to go out there and we got a few more. We got about 10 minutes and I want to bring up a couple of stocks out there, okay? So hold on a second. We got this one. We got Coin here. And hold on a second. And Book Viewer. Oops. Hold on a second here. Where's my Book Viewer? Too many damn windows up and running. Oh, there we go. Expired. Oh. It's not expired. There we go. All right. So let's look at a couple of stocks. Let's see what we got going on over here. What's moving today? Okay. Well, the market's going down. It looks like a Coinbase. Coin is actually down because all the news on the Bitcoin is going on. Now, I'm just trading off. I'm trading right off the cuff. Right off the cuff. Okay. So look at a Coinbase right here. And can anybody tell me where the buyers and sellers are on Coin? Where do you see the buyers and sellers? Where do you think you see them? Okay. Tom says a buyer at 140. Okay. We're at 143. Anybody else? Anybody else? 140. All right. Hold on. Anybody agree? You too? Okay. I mean, we got a buyer at 140 for 16,000. And we got another buyer. A lot of orders out here. Only 6,000. But the real big orders at 16,000 is at 140. So what do you think is going to happen when we get to 140? Is stock going to go up or go down? Should go up, right? So look over here. So Coin at 1130, hit 140, went up to 143. Hit resistance, came back down to 140. And now it's going back up. So not once, but twice, that that stock bounced off 140. Okay. Now, are you amazed yet? Knowing like, wow, did this really happen? Did this really exist happen in front of me? How about this? How about I show you level four? Anyone ever heard of level four before? That, this is level four. So right here on the right, this is the book with the numbers. And look at this heat. This is basically a heat map. You see 140 over here? This buyer has been out here all the way down here. Let me point you guys to follow along. He's been out here and look how it hit there. It hit him. It went back up. This guy's been out there since 11 o'clock this morning. All right. Never wanted to break it. And then look over here. This is, this is even a better example. And when the market opened up, look at all these sellers out there since 930 this morning, the stock never want to pass 16161. You had 20, 24,000, 16,000, 19,000, 12,000. Look at that heat map over there. Now, does that even look even more crazy to you? This is what trading is all about. This is what we do. And this is why you need to know how to play the game, no matter what kind of trader you are. And now please don't take this in a bad way. Some people like, but I like options. I like Forex. Yeah. But are you really making money? And even if you are, is it, does it, you're in the industry. Does this seem a lot easier for you? Right? Just to me, it looks like it. That's why I do it. So who here wants to learn more? Who here wants to learn more about it? Who here wants to come in and join my trading room and see how to trade these? Good. That's what I want to hear because what I'm looking to do is I'm looking to recruit traders that I could teach that could be part of my team. Okay. Because when I'm done with you for doing this for 30 years, there are a lot of schools out there. And some of you might not hear about them because I teach you how to own your own little private group. And basically eventually you're going to learn how to teach others. Maybe your grandkids, maybe your, your, your, your wife, your fan, whatever, family member. But trading is not that hard. And this is why Cybertrain diversity has been endorsed and sponsored by more brokerage firms than any school in the industry. Think about this. How many of you have attended and listened to a guru before and they could say, oh yeah, we're endorsed by Benzinga, Tradier, Bookmap, TastyWorks, Thinkorswim, TradeStation, Charles Schwab, NASDAQ. You probably would never even see probably one person probably to show you one. But this is how the reputation we have. And not even that. How many of you here could say, oh, we have a five star rating on Google. You know what? Anyone here have taken training from anyone or thought of it? Once go look at their Google review. Okay. Go on, go on the bed of business bureau. Check them out. Okay. Because we have a reputation and, and, and that has a lot saying that comes with it. You need to make sure you have that reputation. By the way, this picture right here is a photo of me on the, at Charles Schwab at the Money Show doing a presentation. You might recognize the platform, but, um, yeah, never, right, Donna? And, and that's, you know, that's the big thing. And I'll tell you why. All right. I'll tell you why. A lot of us are really not qualified to trade. Let's be honest. I know some of us want to school be a doctor, maybe a lawyer, maybe a scientist, maybe a, you know, maybe, and you know what, you end up growing up says, well, you know, it wasn't for me. I was always thought I wanted to be a cop. I always thought I wanted to be a gardener or a chef. But eventually, you know what? There comes a time where someone's has to tell you the truth. And what I'm looking to do is, um, I think all of you guys have the opportunity to do it. I won't judge anybody. Okay. But what we need to do is, um, Google, Google, not trust pilot. I'd be honest with you. I don't trust, trust pilot. Don't trust too much. You can buy likes on trust. Okay. Google, you can't write. Just let you know that when I see people show trust pilot, because they call me all the time, Hey, you want to advertise on trust pilot, we can give you good reviews. What do you mean? Why do I need good reviews? I already got, you know, I don't need you to give me good reviews. The people should be given them anyway. So don't trust, trust pilot as much. Okay. Um, well, now you know, right. So anyway, getting back to what we're looking to do, um, we're going to invite you in there. And once you see, you know, and judge us not on our winners, why don't you judge us on our losers? Because the way we train traders is we don't teach how to make money. We teach how to stop losing it. That's everyone's biggest issue. Everyone likes to talk about the winners. Everybody likes to talk about, you know, what's going on. I don't like talking about that. I like talking about how to control those losses because most people's problem is the reason why you're getting trained or reason why you're going to the doctor is not because you're healthy because, you know, you're sick. All right. Same thing with trading. So a lot of people want to go trying it. They learned a hard way. Hopefully a lot of you, you know, probably figure that out a little bit and we're going to try to fix, we're going to try to fix that problem. So everyone here is going to be invited to my trading room. We start live commentary. We started at 9am. We actually started at 8 and then we go all the way to the afternoon. So we got live commentary going on the first hour in the last hour. Okay. And not only that, but we have gurus that come in all the time. Just like you were here earlier, we had traders counting on earlier. We always have it and this is what's going to cost you $9. That's all it is and $9. Now, the reason why I'm asking for $9 is this. I want to eliminate a lot of the tire kickers. I'm not looking for, listen, if you can't afford $9, you can't afford to trade. Okay. So this is really more of an application fee. And to ask, to answer your question, Tom, we are not going to charge you a single penny after the week. Okay. We don't play that game. You don't want to continue to Cybertrain University. Let me tell you something. We don't need your business. We respect your business. We don't need it. Okay. But I'm also not looking for free people. I don't like going to free concerts. I don't know if you've ever been to one. I saw Billy Joel once in my life in Central Park. All right. There must have been about 300,000 people in there. I'd rather go spend the $100 ticket and go see a Madison Square Garden and be around with 20,000 people. Okay. A lot of people really don't qualify to trade, but I'm looking for serious traders. And the first thing that we test you with is that do you have $9 to spend? Because you don't have $9, we're not interested in you. Okay. All you got to do is take your phone, scan that QR code, or you can click on the link that's up on the wall on the board. Now, this is what you're going to get. After seven days, if you're not happy, I'll give you $9 back. I don't need your $9. Trust me. Okay. If I was, then that's when you got to start asking, what the hell does this guy want $9 for? I don't need your $9. I'll give you $9 back if you feel that I wasted your time. But this is what you're going to get. You're going to get all-day training. You're going to get workshops. You're going to get a trader's library. Okay. You're going to get all this stuff, anything. Okay. And if you didn't lock in earlier, the first 20 people are going to actually get a phone call from me. We're going to have a conversation because we need to make that decision if trading is for you or not. Okay. Someone's got to be able to analyze what your trading is doing. And you know what? When you come in there, you're going to realize if trading is for you or not, because some of you are really going to look at it and like, my God, this is moving so fast. And they're like, yeah. And you've been trading doing this another way. Okay. So maybe you need to go back to your $9 to $5 job. Okay. Maybe you should give your money to someone else to trade. But there's only way to find out. Let's see if the traders in the room are able to think for themselves because you're going to be just like them. That's what trading is about. All right. Now, as you register, let me put that little QR code up there. I like this one because it's bigger. And you got the link that when you register, we're going to ask you five questions. Please fill them out. Let us know. Have you ever been trained before? Do you have a brokerage account? How much you're trading with? Just like five simple questions. It's like basically a doctor's office. We want to know what kind of symptoms you have, why you come and see us. All right. What problems you're having. And then there's going to be another page where you're going to book your appointment. So everyone here, if you don't know what time, just pick any time. Okay. They fill up pretty quickly, just lock in a time that's good for you when you're off. And you're going to talk to our staff. If you have a problem, don't worry about it. You can always change the date. All right. Now, a couple of questions are coming across here. Now, as I'm, I'm just, I'm just going to just cut, do read out a couple of people that registered already. So Ray Jackson from Santa Monica, Santa Monica, is that it? California got your registration. Thomas B. from New Jersey got your registration. Sid, oh, there you are. That's the one you asked me earlier, where to get that book viewer. I see you registered. Good. You're going to get your Massachusetts. Perfect. All right. Who else we got here that registered? Bart got your registration. Welcome aboard. I see you guys just registering right now. I'll start calling you out. And I like to make sure because I like to see who's in here and relate from the questions because those are the ones I obviously I'm very focused on. Now, questions came across here asking me, do I need a brokerage account? No. Zero. You don't need a brokerage account to do this. We do not want you to trade. Okay. We want you to watch. We want you to see, listen, I am going to make a 100% money guarantee. Stock market's not going out of business. Don't worry about you miss this stock. You're worried about the banks coming out with their quarterly earnings. I want to trade them. Don't worry about it. They're there every day. Every day, there's a great adventure. You're not going to miss anything. You know what you are going to miss? You may be another COVID, like a big catastrophe. Listen, they only come every eight years, so I don't think you're going to miss that. All right. They always come on, but these are the things that you need to do. Just fill it out, watch, and don't worry about it. Another question that usually populace coming up, how much money do you need to start? Great question. $9. That's all you need. No matter what balance or whatever you could put into it, all you need right now is $9 because if you're doing it now or you're looking to make a career out of it, maybe some of you looking to retire soon and you want to know how much you do need to do this, whatever, the fee is $9. If you can't afford $9, you can't afford to trade. Now, one person is like, why isn't it free? I'll tell you why I can't put you in there for free because I don't know who the hell you are. I don't know where you came from. I don't know if you're a heckler or whatever. The $9 gives me a little trust with us too. Like I said, I'll give you money back if I wasted your time. The thing is this, I can have all 100 of you come into the room and everybody would. What is that going to do cause chaos? I'm not looking for chaos. I'm looking for serious traders. That's the reason why. It's true, folks. I've been in this class but every day for their breakouts, folks say, hey, I dropped another call. I scheduled at 10 a.m. tomorrow. Don't wait to meet. No problem, Tom. Good. Thanks. I really appreciate it. Let me just share that. Let's just copy and paste that in there and let everybody see what Tom wrote. That was great. I had a photo talking to you, Tom. All right. Let me just put that in there. That was Tom's question right there. Thanks a lot, Tom. Appreciate that. Tom, you know what? I know you came here before and whatever and everyone starts somewhere and some people just don't realize like, listen, why is more people not talking about level three? Nasdaq has access to a seat on the exchange. I have access. How did that guy tell me that? I told you this before. You are going to get so ticked off of the money you spent and go back to that person like, why didn't you never tell me this existed? Why didn't you tell me I didn't have a seat on the exchange and wasted me to watch 1500 hours of what a candlestick is or a Fibonacci and stuff like that? Trust me. But the good news is the reason why you're here is because whatever you had didn't work out. Because you did, you probably wouldn't be here. Let's not make that mistake. Trading is not that hard. You know what the hardest thing about trading is? Greed, discipline. I'll give you a good example. Anyone try to lose weight? It's hard. I mean, for me, I love food. Some of us genetically, like, how are you so skinny you could eat anything? Me, I look at food, I gain 10 pounds. It's the same thing. But if you had the right person that showed you how to do it and say, wait, that's not that hard. I could do that. You make it all the ice cream I want. Imagine someone says, guess what? You can eat all the ice cream you want. You're not going to lose weight. You're like, yeah, that sounds like a dream. You know what? That sounds like fake news. Well, some people think this is fake news. Take $9. Take a shot and see what happens. Couple of shout outs really quick. Good. I'm seeing a bunch of you registered right now. So who do we got here? We got Pamela S. I just got your registration from North Carolina. Welcome aboard. Thanks a lot, Pamela. Look forward to seeing you in the room, Frank, from Yonkers. You're probably at the block from me. Go to Yonkers racetrack. My parents should take me while I was a little kid. I don't know if that was a good thing or a bad thing. Who else we got? Scott T. We got your registration from South Carolina. Welcome aboard. R. R. Hunter from, where are you from? South Carolina. Welcome aboard. Got your registration. Shakar M. From Texas. Got your registration. Couple of questions coming across here. Someone may have to ask you earlier, but I came in late. Is there a product like Bookmap for Futures? Actually, yes, Ray. And for crypto, okay. I don't teach it because I don't trade futures, but there is. There is. So wouldn't that be pretty cool? I tried to sign up, but am I in? I see some weird signals on paying. Well, you know what? I saw a suspicious, something came in suspicious that didn't work out. If you're having a problem, and you haven't any issues, call our office, 877-770-CYBER, or 516-877-CYBER, and then we can help you out with that. Well, 5350, okay? You can call out, or call out 5269, or someone will help you and get you through. But you shouldn't have any issues. Can I read you via email? No, you have to register online. Or Jane, you can call up and talk to an education advisor, and it'll get you up. I don't know what you mean by email. You have to register. That's how we're going to track you. Who else we got? A couple of the people are registering right here. Ralph R from Ohio, Portland, Ohio just got your registration. Good to see that. Anyway, I would love to show you their names, but then if I did that, then I'm going to expose their emails and phone numbers and all that good stuff, and I want to do that. All right? Okay. Does the training start tomorrow? Steve, you know what? Better yet, it starts when you feel like it. Yes, I recommend you start tomorrow. But you got to talk to one of the education advisors, book your appointment, because we want to give you that experience of what it's like, what you're going to see in the room. Because could you imagine like going into a room and not and say like, what are the people talking? You might get in at the wrong time, might I hear commentary and say, Falsal, I thought you were going to hear commentary. I'm not hearing it. So, or you didn't watch the video, these little videos that we made for you to kind of give you what to expect getting into the room. So that's one of the reasons why you don't want to do that, okay? So just make sure you, but don't waste any time. And I know a lot of you right now too, and another thing I want to make a comment before we go, don't blow this off, okay? If you don't want to do it, you register and you forget about tomorrow next week, like, I'll put it on hold. Okay, that's great. Let us know and we'll put it on hold for you, okay? Well, maybe it's not ready. It's not the right time. You know, you probably were very excited right now, but listen, we're going to be on top of you, okay? I'm going to look at, my staff is going to treat you like their children, all right? And we don't want you to get hurt. We really care about this. Way too many people lose money in this, all right? And we want to teach you the facts. And you saw that trading is not that hard, seeing where the, how to use level three, level four, how to read the chart, keeping it simple. Every one of you are going to trade the market, regardless if you've been prepared for it. Some of you are going to be like, well, I don't know if I'm going to be trading yet, okay? I'm going to probably do it next month or next year. Okay, great. Well, you got to learn before you could earn. So let's get into that. All right, so I got to get ready to get back in my trading room, guys. Thank you so much for being here. I know it was a long little day for two hours, but I look forward to seeing you all in there. And if you didn't register, a couple of shout outs really quick. I just got your registration, Stevie from Illinois. Okay, I just came in. I see other people registering right now. But just please make sure you book your appointment and don't go out there and trade and learn the hard way. Okay? $9 is the cheapest trade you can make. Okay? It's literally 10 cents a day. Maybe even less than that, you know, when you figure it in, what you're going to get. Go out there, learn how to trade. And if it's not for me from somebody else, but you're going to have to learn from multiple people, but don't go out there and say, oh, let me try and see how it goes. You are one trade of blowing up your account. And I've seen people getting into the biggest mistakes. I'll tell you one story before we go. There was a person that we trained. Actually, we're training him right now, and he got into options. Okay? And he retired. And he retired with about a half a million dollars in his account. Now, he worked his whole life, 40 plus years. And finally, he can get, he finally traded. So he, but he knew he wanted to learn. He got into options. Okay? And he put $200,000. Somehow he got put into an option was $200,000. And he's short the market. He's short. So what happened with the market lately? Short the market. He's now in the hole for about a half a million dollars. And if he doesn't just get a hiccup in the market, he's going to lose it all. I don't want you to be that guy. I don't want you to be that trader. Okay? And he said, you know what? If I knew a little bit more about the market, what you talked about, I would never, ever got into that, those options. I would have never did that trade. He goes, I probably would have if I knew, but I've probably been on the opposite side. But I heard about the levers. I heard about that. And I hear a bash, any type of market exchange. I'm not here to bash all the companies, but I don't want you to be that person. Go out there, listen to other people. Don't go out there and get yourself in these big trades. You got to learn before you could earn. Okay, guys? So let's keep up with that. So I look forward to seeing you all $9.00. One last shot and we'll go from there. Thanks, everybody. Happy New Year.