 Let me know if you can hear me and see the slide. We're going to get going here. Excellent Welcome everyone. Nice to see everyone here today Thank you for coming Can you see the arrow? Great Well, welcome today today. We're going to talk about how you can earn a living day trading some of you Might be day trading right now. Some of you might be considering Getting into day trading really when you're day trading. This is an investing Excuse me. It's about I call it chunking it out. You chunk it chunk it chunk it, okay? So you're going into the market and you're taking money in quick moves couple of minutes you could say an hour Some trades you can hold longer But usually we're looking to get in and out very quick between 930 and 10 a.m. Eastern time, okay? And Kathy's writing in the room if anyone has any questions you can just write in the room And I want to answer the question as we go along today. I Will say the question out now, okay? Anyways, you can watch me on Fox Business Fox news I also appear in CBS and some other channels too. I talk about the market And if you have any questions after we're done today, you can always reach out email me at Melissa at the stockswish.com Excuse me or call me at 9 to 9 30 200 gap You can follow me on Twitter Facebook YouTube or Skype. So again, how many people here are trading? Are you actively trading and if you are do you know how to trade? I'm never amazed how many people actually trade the market or risk money and don't know what to do One of the things that's very very important is you must have a strategy if you want to make money in the market now You say well, what do you mean a strategy? I mean Something that you consistently do that you replicate which is the reason that you take the trade over and over and over again And it has to be the same thing meaning you have to be consistent. Okay, so you say well Some days I'm buying support some days I'm shorting resistance. Well, that really is not a strategy That's number one and number two. That's not doing the same thing consistently. Okay Consistency means boom boom boom boom boom Monday Tuesday Wednesday Thursday Friday, and I even mean consistently in the time of the day time of the day time of the day Strategy the amount of risk you're taking dollars and cents. Okay All of that is very important to be successful So what do I focus on I focus on gaps gaps happen every day in the market Now what is a gap and this is a very brief explanation for those of you don't know it and have never heard of a gap And this is review if you have a gap is a difference between the close and the open So the close of this day Whatever this is at four o'clock eastern time that market closes every day Then it opens the next morning at 9 30 a.m. So what happened here? We closed at one place and open at a different price. We closed here open down so based on that. Okay Closing here opening down here There's a gap down Okay, so there's a gap down in the market This was the spy that happened from Friday to Monday. There are gap ups. There are gap downs. Okay So what I look to do is I look every morning in the pre market And I'm trying to find the gap the gap the one gap that I want to play now there might be two Okay, sometimes we do three trades or three ticker symbols, but that's a lot I'm usually focused on one or two and I'm usually focused on that period of time between 9 30 and 10 I Get this question a lot before we get into some more charts here Can I do this if I am new if I've never traded before I get that question all the time the answer is yes You do not have to be proficient in day trading or have experience in order to be successful doing this In fact, I think it's more beneficial Maybe to some people if you've never traded before because if you come and learn what I know right out of the game You're gonna focus on the information that I'm telling you instead of actually focusing on things that don't work a lot of traders have bad Habits they have learned things that don't work and will never work and they've lost money And they have a hard time letting go of those behaviors those patterns and not only that those belief systems Okay, so don't be afraid if you're new if you're new that's actually really a good thing. Okay, so Don't worry about that But getting back to what I was saying a strategy is very important very very very very very important It's important for you to make money. Okay, you have to be consistent. This isn't gambling You want to gamble you go to Atlantic City? Okay trading is something you have to take seriously And I'm not saying I'm not saying this is where you're gonna sit at your computer from 9 30 to 4 again We're looking at just trading the first half an hour first hour But serious means in the time that you're doing it you're serious Whether it's for five minutes or five hours you gotta take it seriously. Okay, and again the consistency So we're gonna go over some trades or some recent trades But 2019 has been a very very good year for my live trading room I mean, I'm just calling great trade after great trade after great trade And so I tend to look at many many things in the morning And then I will pick out the good things to call it in the live trading room in the room I also have an options letter which I will go over one of those trades in here now as well But if you want to join the live trading room, you must take my class Okay, learn the system learn the strategy and then you take the live trades that I call So again, how do you make money in the market? What do you need? Why do you need to be successful? You need a strategy that has a high-win ratio. You need a mentor someone like me that calls the trades line Excuse me and live time so you can take them. Okay, and number three you also need motivation Motivation to do what to be successful that you want to learn it that you want to do it that you want to take it Successfully that you want the money. Well, everyone says well, I want the money. I want the money of course I want the money. Yeah, but what are you willing to do to get that money? Are you willing to spend a whole weekend studying and in a class like mine? Are you willing to spend, you know, a Friday night going over in your charts? Are you willing to go through the emotional process of of of just learning something new? You know a lot of the people that I teach, you know are over the age of 40 Okay, sometimes people say well, I don't learn something new, you know I don't feel like I should have to it is like going back to school When you are learning something that you don't understand and you never did before Okay, and even if you train in the past gaps or the way that I look at gaps is new to many many many people Okay, because no one looks at gaps the way that I do a lot of people talk about gap fills that stuff doesn't work Okay, so you have to open up your mind and be motivated enough to do it to really learn. Okay Any questions here so far? State training is a great job. It's a great job because you can be anywhere in the world and do it Okay, all you need is a computer and to do it from home and you will be set. All right Open up a trading account get your live charts going and again Learn a system like mine and you can be anywhere in the world. You don't have to live in New York You don't have to go down to Wall Street to trade. Okay, so times are very different right now We live in a world of electronic trading So if you can take the time to black out in your schedule between 9 30 and 10 a.m To trade okay, that is the time that you'd want to be able to do this system my system The trades go very quickly. They set up fast Which the benefit is also you can get out quickly too and the nice thing about day trading is you can work from home As I already said now some people want to do this on the side for extra money Some people want to do it for a career either way. I do think it's important to know your goal I do think it's important to know what your Reason is for doing this. How much money do you want to make a day? How much money do you want to make a week? How much money do you want to make a year if you really want to do this for a career? And you need you know what that amount of money is that you need to support yourself if that is your job Then you have to start from where at now and how are you going to get to that place? Okay? You set your goals. So it's all really about focus keeping the focus in sight of what you want to achieve So for me, I'm very focused each morning on reading the gaps and what am I looking for? I'm looking for institutional money and price patterns in gaps And if you look at that and you focus on that you really don't need to do anything else Okay, it is really literally about looking for institutional buying and selling So when I'm looking for the selling we're shorting. Okay when we're looking for the buying we're going long Now I do tend to for those of you that aren't familiar with me I do tend to go to the short side first because I think that it's fun to short Stocks tend to drop much much quicker and faster than they do rally. So I prefer to short Okay, but that's a personal preference. You can make money going long and there are times we go long in the room. All right But anyways, I read price Don't trade based on news. I read price action and I read price action in gaps So I see movements ahead of time in charts that gap and it's called price forecasting now What is price forecasting? It's a use of historic data to determine the direction of future trends So I'm usually not trading for the most part new issues something like Uber that just came out I'm really not trading something like that doesn't have enough data for me. Okay. I want to see a history in something I want to see what institutions are buying with it I want to see a history in a chart when I'm doing it So again, you have to be able to set up day charts and that's where I'm looking at the gaps I'm seeing where the institutions are buying or selling when I say institutions. I mean big banks. I mean hedge funds I mean, you know big big traders Okay, that's what I mean people that could actually move a stock or move the market like when they get in you can see it Like like you can't see individual trains the same way and many stocks that we trade that a millions and millions of shares Okay, if you took a trade in Apple, you're not gonna move it, but a bank might okay So you see here, that's the difference and that's what I'm looking at and I'm looking at it in the gap okay So this is what I teach people and it's very very important I believe this is my belief system and it was ever since I started trading I took one class when I started out trading Before I decided to develop my own system education is important now I didn't learn how to make money in that class, but I did learn a basic foundation for technical analysis And that helped me to develop the gap system that I have right now So that was important because if I hadn't had that initial foundation, I would have been lost in my trading When you when you see news events and things that happen sometimes they support the price action But for the most part usually what happens are the reaction It's happening in the stock of the market is happening before you hear what the news is Okay, so that's one of the reasons I think that price and technical analysis is so much more important than fun eventals or news Or any of these other things okay, and again education is an important if you want to make money and succeed Not if you want to just do this for gambling because the money will go away from you very quickly if you just start to take potshots and trades So you have to use your head Focus on why you're doing this and decide what you want and like I said, I'm totally serious about this where I wouldn't say okay It's May 15 Four and a half months into the year How much money do you want to make in the market in 2019? Now let's just say you haven't started trading yet so four and a half months left in the year got plenty of time and What if you are trading already this year and you've been losing money in the first four and a half months of the year well You got to let that go you have to stop thinking well. I got to make it up. I got to make it back I got to make it back. I got to make it back No, you start from the moment if you come to me and you learn from me You take my class that is day one for you and you move forward with whatever your goal is you say I want to make a hundred grand this year. It's May 15th between now and December 31st. That's what I want to make Melissa I said, okay fine. Let's break it down. Let's break down the number of months. Let's break it down by week Let's break it down by day. Let's break it down to the number of trades You see how you do it and that is how you tackle a goal And I think so many people get caught up where they lose sight of what the real goal is Or they don't even think about what that is or even imagine or even know what it is And a lot of people are chasing their tail in the market people are chasing their tail Not just back if you've been losing since January doing some system where strategy doesn't work people Well think about losses that they had in 2018 2017 2016 I have talked to people that have been trading in the market for longer than I'm alive to talk about loss And they talk about all the losses have ever had of the market since day one That is insane and if you're trying to make it back You're gonna be trying to make it back forever. Okay You have to say today is the first day of the rest of my trading life and that attitude and getting back to one two three Three one is the strategy to as a mentor, which is me and three is motivation That's three That's where the hard work comes because a lot of people have a hard time letting go Letting go of the past the past is over and there's nothing you could do about it And you're never gonna be able to go back to tomorrow or any stupid trades that you did before Just move forward with new goals and new aspirations be motivated to do it And be motivated to achieve and those results that you really want But part of that is not thinking about the past. Okay any questions? Very good. So I have a system. It's a golden gap 26 point rating system The system tells you what stock to look for each day and again, how long does it take to learn it? I teach my class at a weekend the classroom May is this weekend Saturday and Sunday You can learn the class in two days You learn the system in two days and you can start trading it doesn't have to take that long You just got to know what to look for and again, we're focused on the morning trading It's rare that I will ever keep the room the trading room open till noon sometimes But I don't ever have the room open till four o'clock We're usually in and out in the first half an hour an hour And so I'm looking for a setup to happen by 10 a.m. So like if I don't get one then we won't do anything You got to have the good ones. I'm looking for a good risk to reward. We don't do penny stocks We don't do those stocks and aren't worth anything. We don't do stocks. I don't have any volume I'm looking for something that can have a big move on the day high Probability of the directional bias for the entire trading day, okay? And stocks that you know of companies that you know of things that you would recognize. Okay, that's important too Now I always get this question about the share size. It's really a function of how much you risk We're typically trying to get a buck move in something So for example, if you have 2,000 shares of something and you short it at $10 and it drops down to nine What would you make if it moved a dollar and in 2,000 shares you make two grand? But every time we take a trade the difference between the entry and the stop may vary So your your share quantity will vary depending on the entry and the stop And you don't know that until you get the gap rate the gap and the stock sets up So this is all happening in live time, which is one of the reasons why it is beneficial to be in the trading room Okay, so the consistency comes not in your share size per se, but in their dollars and cents risk But obviously the more you risk the more you can make okay And that's common sense, but you can't risk a lot of money unless guess what? You know what you're doing and that's common sense, too But there's always people out there that risk money and they don't know what they're doing now That's something that I never did. I honestly never risked a lot of money at the beginning I was you know started out very early on risking 150 dollars of trade And this was at the beginning and I was trying to create my own system and doing it doing it because I found that 150 bucks If I lost wasn't horrible, and if I had a decent trade I can make 300 400 bucks and when you think about it 400 dollars a day adds up, okay? So you do not have to risk an advance what I call an advanced trader risk Which is really ending over a thousand dollars if you can afford to and you feel confident in that You can Any questions here? Anyways, it's a process. It's a process you get up in the morning and then I go through my checklist So I see the gaps in the pre-market and I go through boom boom boom and I raid it using my system to determine if that's the stock I want to watch today today. We did Tiva and I'll go over that trade in a minute now This was again the spy. This was another trade back from again Monday. This is the bar from Monday This is a daily chart. I don't want to show you here an example before again into the day trades an option trade Now you can day trade options the difference is it's just a different way to do the trade This is a short essentially you're buying a putt and I called the putts now This was last week. I called this trade, but it was through through last Friday 285 expiring 510 so this was a good trade. I'm gonna go back and show you it was Tuesday the 7th Here I called the train and again You could have taken it and got immediately out or you could have taken it and stayed into the last day here or the Thursday or the Friday which was the tent it went poop and it dropped dropped like that so 285 I'm gonna show you that number was here, but you can make money even if it doesn't go through the strike How if it's going in your direction so if you took the train here in the Tuesday It was falling falling falling you would have made money even if you get out the first day Follow me, but if you held it you got paid a little bit more now This is an option trade But I'm showing you this because you can day trade options and the reason people sometimes do options as day trades is because you Don't have to worry about about having the margin so you could take a train in Monday get out in the Tuesday and so you don't have to worry about having the cost of the stock for the $285 and The other nice thing is to you can take bigger positions because of the cost So the cost in this 80 cents 80 contracts with the risk of this is an advanced risk $6,400 shown 330 beautiful profit now you had to risk $6,400 to make 20 grand in this but the return in investment was 313% this was holding it down through the drop not getting out the first day But even if you get out the first day, this was one turn around so usually what I'm doing a trade say for example If I'm risking a thousand. I'm looking to make a thousand. I'm risking two thousand. I'm looking to make two thousand So I'm usually looking to turn it over once okay But some of these trains some of the day trades some of the options trades some of the day trades We do even in the morning the first hour will turn over more than that Because some we've had a lot of volatility this market if we go back here This is the chart through Monday the market has been had an incredible amount of volatility And you've really had to know how to play it right to profit with this. Okay Anyways, I want to show you the beginner risk 640 bucks if you had bought a contracts risk $640 you could have made two grand That is fantastic people again one trade You could have done this one trade and made two thousand dollars last week and you didn't have to do anything else Many people are losing that are trading to make $2,000 in a week to them is a dream. Okay $2,000 times four two grand a week means you're making eight grand a month. This is one trade one Okay People think it is about Multiple multiple multiple multiple. I mean while I'm looking for a new trade each morning daily. I Don't go ballistic Doing it, you know 10 15 25 trades a day Many day traders are in and out in and out in and out in and out of stuff all the time you can make your whole week with one or two great trades and One trade a day is certainly enough sometimes we do too over busy. It's earnings season right now It's a busy period, but it's not necessary. It is about the strategy It is about the consistency is about hitting it and getting a good one right at the right price right at the right time Watching it taking it following it rating the gap Looking at the chart reading the price action seeing that this is going to drop and it did drop is a great read of the market Any questions here from anyone so far? Again, I see some new faces here. I mean, I don't know what people know what they don't Those of you that have never been to my webinar before don't be afraid to ask questions I don't know everyone's experience level You gotta ask me So I gave these two examples here so you could see the difference between advanced and Beginner now this here again is the market the daily chart here was the short that we did back on the 13th Which was Monday? This was an equity trade a day trade So there was the put from last week then this was the day trade here from the Monday Market fell Boom short it get the drop you could have shorted it here and held it even more You could have shorted it here and got the drop here these red bars are signifying the sell-off the weakness So again, how do you make money in the market? You take it at the right place into momentum Into the momentum the momentum here is down. You wouldn't want to go long this you would want to be shorting this You see how some people were buying this those people lost the market fell off a planet on Monday So this was the day trade Entry was 280 to 90 shares 2000 risk 1800 Then there was two exits first strap We had lowered the stop second drop and then it actually was a very good move Put the follow through then with this to but you could have split it up Or you could have just held the whole thing down and actually if you held the whole thing You could have got almost three bucks out of it, but decided to piecemeal in here Very very very nice move. This is an advanced risk So forty four hundred dollars on one trade risk was 1800 and this was very conservative to piecemeal out Now if you had a beginner risk risk is 180 Again 200 shares. That's it. You risk 180 bucks. You could have made four hundred forty dollars Again, four hundred dollars a day times five is two grand a week Four hundred dollars a day Monday Tuesday Wednesday Thursday Friday, okay? So you see how you can put together You know, you know a profitable week and then it becomes a profitable month. Okay, any questions? Everyone's so quiet here tonight. Anyways, this was another trade. This was Monday, too Which is funny because we did TV today as well Tiva drop we shorted it boom could have got out rally back could have taken more could have held it Boom, here's the move. So this was a beautiful move in Tiva and actually here You see the time of the day show between 9 30 and 10 take it get out now If you held this Tiva this actually continued further this ended up going all day broke 12 I think the low of the day was 1190 actually here. It is so in this case here We got out early, but if you held it you really got paid and again, that was Monday marker was falling, too So this again advanced risk 2019 hundred either way advanced risk one thousand nine hundred sixty You see here you short it. This isn't like some monster move now again This ended up going to 1190 which is crazy, but this one another 70 cents But anyways one quick boom out profit 1820 so you risk this and you're trying to make it and again if you want to get out quick You're in you're out. You're in you're out. See what it did. I'm gonna go back to this one minute chart You're in you're out. You're in you're out. You're in you're out That's what day trading is you chunk a chunk of chunk of chunk it and again once my goal is made I don't do anything else now There are people I know in the room that like to take lots and lots of trades even after I close out the room But I don't I don't think people should do that Now this here was a smaller risk Beginner $196 hundred 82 bucks even two hundred dollars a day is a thousand dollars a week and that's four grand a month And that's 48,000 dollars a year and most people are not making that day trading most people are losing It is about focus you take it get out take it get out What stop are you watching rate the gap look at it watch the entry see what it's doing read the price action Back to this here. Gary is saying this is great. That's why I have the beginner risk here So let's answer Gary's question. How many how much buying power Gary would you have needed Galahad can answer this He is a beginner risk. How much buying power would it been required to take 700 shares of Tiva? Galahad Gary you can answer that too, and this is for anybody that's new. It doesn't know you take the amount of share quantity times The stock price which in this case here for the point was 1282 Equals This back here was this was an advanced I'm giving you two choices. Some people do have the money to risk this Gary again I've been doing this for 11 years, but if you're brand brand brand new, you know, you may not But you will get to that point as you build your account up with the profits But anyways getting back to this Galahad. Did you want to answer the question? Are you there Galahad? So 700 times the cost of the stock. That's how you figure it out Am I talking to myself or is anyone there and there's something cloud margin? So this is a good This is actually a good question here because I'm gonna give you a margin lesson because since somebody brought it up and I get this question all the time because sometimes people think you need to have hundreds of thousands of dollars to trade you don't Galahad how much buying power do you need to short Tiva? 700 shares at a stock price with a short price of 1282 Galahad's gonna answer it because he's a beginner Galahad says eighty nine seventy four. Let's see if he's right. I'm gonna take my calculator out 12 82 times 700 is eighty nine seventy four. So Galahad's right now. Guess what? That is them. That is the buying power So that's the buying power. That's not the cash. So guess what if you have And at a brokerage account you use something called margin now you say, well, what do you mean? There's two types of trading accounts retail And prop Retail requires you to have twenty five thousand to trade at all and your margin will be four to one Prop okay is different most prop places give ten to one So and that with an opening balance of twenty five hundred So you would have ten to one times twenty five hundred twenty five thousand and buying power with a twenty five hundred account at a prop place So in that case you would have been able to take the straight So with twenty five hundred dollars in a prop account you would have used up almost nine thousand of the 25,000 and buying power and you would have been able to take this trade and you would have had two thousand five hundred dollars in real cash You would have risked a hundred ninety six stars in real cash You would have risked Approximately eighty nine hundred in the buying power margin And you would have exited the trade on the day in a few minutes before ten o'clock with a hundred ninety two dollars profit And then you would have closed out your account and minus commissions You would have had you know a little bit under twenty seven hundred when you woke up in the morning You see and that's how it works So you when you are trading when you're day trading you don't need the exact cost of the stock You don't need Hundreds of thousands of dollars every trader big trade or small traders use margin now that the place that you're trading is what I'm saying It could be a retail broker It could be a prop broker and that margin will be dependent on the cash that you had and their own requirements You can trade wherever you want you can go to any broker that you please Okay, that's totally totally up to you. So that's good questions Now I'm showing you this here. I'm just showing you the chart of this here this today We sorted the market and it stopped. So we're gonna talk about we're gonna talk about stops So when I take a trade I say boom here's the entry. Here's a stop now Why don't I put the stop in well the stop protects me? It's like the insurance say I risk 1800 dollars in a trade. I don't want to lose 5,000 if I risk 1800 then that's all I want to lose and that's it. So that's like the insurance Okay, so I use hard stops and that's what I teach people to do as well So anyways, this didn't work. So this was a loser today. Okay, so what happened this dropped fell rally back dropped failed stopped out Now I want to show you this here. There was news that came out the market rally flipped around So you see here if we hadn't gotten stopped It this 1800 our loss would have been way bigger So when you trade it is about risk to reward and that's why shops are important because one loss on the day Like say you had taken a beginner risk of 180 bucks Well, you can come back and make money on the day from 180 bucks But if you hadn't put in a stop in you would have had a very bad day. Okay, so I always use stops Once the trade stops out, then that's it and we look at something else I know a lot of traders are anti stop Well, I'm gonna give a little bit of room a little bit learn But part of risk to reward is also condensing your losses because not every trade works Not every trade works at all the idea of making money in the market It's not that a hundred percent of the trades that I call are gonna work No, some lose the idea making money in the market is having more trades win than lose And that is how you make money in the market, but that's why I condense my risk by using stops What's criteria? I rate the gap. That's what I do. That's the strategy. That's the system That's the two-day class and the weekend every time I get up in the morning I'm looking for the gap and I rate the gap the market gap down this morning Stock closed here the night before four o'clock boom gap down here and open here at 9 30 in the morning This was four o'clock yesterday. This is 9 30 the market gap down this morning Gapped down and rallied and flipped but we shorted it here and got stopped the criteria was my rating system That's what you learned from me in this case here It flipped and that's what we got stopped in the trade I didn't go back after it after we saw this movement here And then we ended up doing a second train in Tiva So actually Tiva was to plays this week Monday and Wednesday was Tiva, which is unusual But Tiva gap down again today to and I squished this here She could see how this followed through later in the day if you went to hold it But here's 9 30. Here's the open we shorted Tiva and then we got the drop So this was between 9 30 could have got out of 10 You could have held it into 10 30 into the first hour But I showed this here this trying to go lower and actually this was very weak But the market being very very strong Tiva didn't follow all the way through This was a beautiful move though. Why the stop was here. It was a very tiny tiny stop This is a 25 cent stop in Tiva. So we did the Tiva got stopped in the spy Tiva was a nice winner even though it was only 24 cents. It was a really nice move And there was two different ads in this if you wanted to do them again Gary's gonna say 16,000 shares, but you don't have to take 16,000 shares You don't have to take that at all. You take what you can afford. This is an advanced trade But either way 24 cents with a 25 cent risk You would have come back on the day and made money from the loss in the spy And that's what we did so I'm showing you a two examples here because it's important because you need to know that Stop is vital to your success and again if you're following me in the room I'm going to tell you where to put the stop and you got to kill it You have to have the stop there or you have to kill it at that number Because you will have days like today where the first trade is loses and the second trade is a winner And you want to make sure that you end the day positive So how do you do that? Condense your losses if something is not gonna follow through and fail you want to be out of it You kill it and put the stop in and you're out and then some days we look for other trades in this case here Tiva, I did have this in my watch list earlier. I saw this this morning. This was gapping down too Here's the clothes from last night. Here's the clothes and Tiva. Why did we watch it? It gap down rated? Well, here's the open boom sell-off So this was a short so to today two shorts Why not buy based on technicals? Why not buy the market? The market was not a buy today. I know it rally, but the market gap down today I short gap downs if they rape her my system and I go long gap ups if they rape her my system I would never go long a gap down under any circumstances. That's a no-no The fact of the market rally today means absolutely nothing at all So again stripped with the system There's nothing technically in the chart that would have told you to go long the market today Now you might be thinking news, but that's not technicals. The news was came out Whatever auto tariffs or whatever the things were I don't trade news. Okay market is still in enough trend That's true if you're in the market long term for your retirement accounts the market still holding the uptrend But we're day trading we have to look for a set criteria every day to make money and a move and I'm looking for it To be quick and I'm not trading news and I'm not trading fundamentals Okay, you couldn't be successful trading news. Anyways, Trump tweets something good the market rallies Trump tweets something bad the market falls who can predict that would be insane and by the way That's what many people have been contending with in the last two weeks You know the last two weeks if you haven't gotten these these gaps right of the market You've been getting killed Well, we did take a loss in this year But literally almost every trade that I've called in the last two weeks has worked day trades options everything I think two trades have failed and I've called. I don't know I've called a lot of options trades and a lot of day trades in two weeks since May 1st since all this tire Stuff has come out. I think there's been two losing trades And lot every other one is a winner and some were big winners like the market So you can't trade the news you wouldn't be able to predict what Trump's gonna tweet anyways So tomorrow morning we'll rate the gap. We'll see where we are see if the market follows through maybe the market gaps up But you can't tell that right now. You can't tell anything to the pre-market. Yeah, that's fine These are good questions We can look at the market tonight once I'm through this webinar here when I'm a couple more slides Well, I'll pull the market up. I highly doubt the market's gonna do anything. Oh, you know what Cisco now Let's look at it cuz I forgot about Cisco. I Am inch curious here. Hold on Cisco and earnings tonight. Let's let's bring it up. It's up. Well, now you're gonna see this live There it is. So this is a stock that this is a stock now I'm not gonna rate this now because it's 510. It's too early. This could be different tomorrow morning But Cisco is up There's a chart of Cisco So this is a gap up. I don't know what this is gonna do, but this is readable so I'll read it I'll rate it in the morning. I don't know where it's gonna be It could be higher could be lower show It's way too really to tell market trades at night and market trades in the morning So the market's probably up a little bit with Cisco Let's just see but then again tomorrow is Walmart. So that could that could affect the market too I have to look at what time Walmart is out Let's see where the market is here 183.09 That's actually it's not up that much looks like we closed at 180 303 and we're at 180 309 So that's not really that big of a deal. We're up six cents. Of course. This says 183 27 So it looks like looks like we're up a couple of little bit a few pennies here in the market With Cisco being up tonight, but tomorrow is Walmart So Walmart will gap tomorrow. I don't know where but it has earnings in the pre market So this will be a watch now. Will this affect the market? Maybe. Let's just take a look at where Walmart closed today here So Walmart is definitely a strong strong stock. I have no idea again what this does tomorrow Walmart has been trying to get up and above and beyond and through that area and have been struggling for almost a year I mean literally seriously huge gap up here and Walmart back Last summer and it just could never get any momentum going didn't really fall didn't really rally Look at this poor Walmart. Walmart needs to do something big tomorrow. What are it's up or down? Walmart needs to get off its butt and start trading. This has been trading in a range almost a year Look at that. I haven't looked at this chart in a while. So I'll be watching this tomorrow Getting back to what I was saying. Okay, so that's not so I get up in the morning I look for the gaps and I read them and then I'm focused on making money What's the stock set up and we look for the setups? I'm never getting anything in the pre market I don't read at night. I don't trade the push market. I do not trade the pre market. I'm getting ready I go through everything how it's showing a risk. What's the gap reading? What am I looking for? What's the numbers? What's the market doing? And that's what I'm looking at and I usually like to look at a couple of things two or three in case one doesn't set up Or in case we take one and it stops like today So usually if you look at I have all the year-to-date numbers on the in the video that was Kathy set out It's on the YouTube. I Will usually stop if I take one trade and I'm up like I'm not like trade trade trade trade like I'll take one trade And if I make my go for the day, I'm done But like if I take a trade and it doesn't work like the spy and we are down and I'm down one are and I said Well, there's something else good. I'll look for it and there was today There was a diva because you can very easily make money taking two things, but I prefer I prefer to do one thing And for the most part we do Anyways, why do people find day trading so hard? They're just not focused. They're just not Like I think the market actually that's a good example today So my bias in the morning today was the market would fall now it didn't but once I got stopped in the short I didn't flip around to go long it that would be a lack of clarity that would be a lack of focus You can't have a hundred percent conviction something is higher and lower. That's false You need a hundred percent conviction of a hundred percent conviction either works or it doesn't we do take stops But many of the trades that that we take work, but that is because I have the conviction I hold the conviction that helps me trade it helps me take risk If you want to get to the point where you're taking seven thousand shares You better darn well have conviction and you better know what you're doing Even if you have the money that doesn't guarantee a thing at all people say well if I had more money I could make a lot of money not necessarily You still have to know what to do You can you can have a hundred grand a trading account and lose it all so that that means nothing Someone could have two grand a trading account and turn it into a hundred All right So it has to do with the knowledge the knowledge is key. The system is key the knowledge and the conviction. Okay Anyways, I look to go in and just take money out It's not investing and you need to know that a lot of people that have some have problems I think with mentally when they're looking at charts I mean this isn't long-term investing or in and out in and out. I like that. It's fun I'm the faster the money comes the better to me Okay, but fast is fast sometimes. It's really really quick But if you're looking to do this again for a living or career set your goal If you need to make 250,000 dollars a year to support yourself and your family It's roughly 21,000 a month a little bit less. So how are you gonna? You can't oh major like oh my god That's how am I gonna get that? Well? Chunk it out when you break it down. Okay, you're like, all right fifty two hundred a week Then yeah, then you see it and this is also why you have to take more good trades than bad trades Because you can have a lost trade like today in the spine and still make money in the week You could have today in the few if you didn't do the second trade, but obviously I called it a word It was a good trade in Tiva So that's an average of a thousand bucks a day. That's totally doable Okay, and to hit those kind of numbers you're gonna be able to risk you need to be able to risk a thousand dollars Per train that's where you want to be because we're turning it over the one amount of we're risking Now if you are not familiar with margin accounts I suggest you call a broker discuss it meet down sit with them in person read about it online But all these trains are that except for that one put in the spy are done with margin So again, you don't need to have 500 grand in account or even 50 grand account to take these trades with the size It's margin 2500 to open an account with a prop place and for an options account You need a minimum of two thousand dollars and that's not a margin account But you needed a minimum of two thousand and you could have done that put you could have done that that that trade That I called in the spy last week again You could have risked six hundred forty dollars and you could have made two grand and you could have just done that with a simple options account With two thousand minimum, okay So it is really about Finding the quality gap for me. I'm looking for a quality gap So it's share size share size to make a living you're looking in it and you're saying are right Well, if I take a thousand shares that can make a buck. That's a thousand dollars 2050 cent move. Okay a thousand four thousand twenty five cents I mean 25 cents was fine today in TV because that was a snail was a cheap stock But most of the stocks that we're trading we're making fifty seventy five cents a dollar Some were making three buck moves again. They may be they may be a little bit more expensive than TV But it goes it's proportionate to the stock price and how it normally moves in the day Obviously Apple is more expensive than TV up. It has way bigger moves way bigger moves in something than TV ever would Okay But how do you achieve your goals you chunk it out chunk it chunk it chunk it I cannot tell you how important that is Alright, so I I've been mentoring people in the options newsletter. There's no prerequisites for that You can sign up for that That's fine granny or you get all the options trades if you want to join the day trading room You must do the class and as I said the class is this weekend But I've had people have great success with the options letter make money And then they end up doing the class after they're on the letter making money with the letter But you're better off understanding it first Which is why the active day trades that are fast we're in and out in an hour You must do the class to take them because they're so quick Where's the options you're taking them and you have time to think and hold them for a couple hours or overnight for a couple of Days, but I usually call them out within a two week period some a week some a couple days last week That was a quick one. I knew the market was going to make them move between Tuesday and Friday and it did okay So does anyone have any questions about anything anything at all It's really a fun career if you want to do it You have to take it seriously though, and I'm amazed at how many people don't It is definitely possible to do this. It is possible to make money I have had people do so well this year now. I have been on my game I've been focused personally and I've been doing this a long time now I mean, I'm calling good trade after good trade after good trade Obviously not every trade that I call works, but I have been on fire this year with my calls I mean some people have just been making so much money taking my calls But you do have to listen to me you do have to you know do what I'm saying what I'm saying put the stop in like with The spy you got to put the stop in what I'm saying, you know, this is the target boom boom boom It's really not about being a pig or you will get big trains like that's fine train last week But some days you'll make 600 bucks 500 bucks 700 bucks. What's wrong with that? There's nothing wrong with that Okay, again each day is like its own thing for you and if you're focused enough to look at today People get so overwhelmed. They say, oh my god. I how am I ever gonna make six figures a year? This is like how am I gonna do it? I need all this money. I need a hundred grand It's people become so overwhelmed start with a $2,500 account and you'll be amazed if you focus each day Within your own universe from 930 to 10 how and stop thinking about oh my god It's a hovel year. I have to if you just live within today 200 300 400 500 250 if you just focus on right now You'll be amazed at how much progress you'll make and that $2,500 account will be 10 grand before you know it But people are so gets overwhelmed and Then also I was talking about this earlier people try to make it back make it back make it back Stupid stuff that they did in the past classes where they didn't learn anything Trains where they took trains and loss and the best advice I can tell you ever that is let it go So there are challenges and with the most of them are emotional challenges for people with trading Okay, they're the benefits so far exceed any challenges. I know that people are capable of doing it I'm teaching people to do it and people are having great success with me this year So I'm proud of myself for teaching people. I'm proud of myself for the great trades. I've been calling It's really ultimately about financial freedom if you want to do this for a career Again, if you like your job and you want to do in the side is still extra money I don't know anyone that wouldn't want an extra thousand dollars a week Even if you like what you do you don't have to spend a lot of time doing this That's one of the reasons why people like my system. It's in and out in and out quickly and you can do it from home or your office So in the class I teach a 26-point professional bearish gap system The purpose of this system is to help you evaluate which gap to trade each morning using a checklist The checklist tells you what to trade when and in what direction it's a 26-point checklist and someone asked earlier That's how I know that's how I know Tiva was good. That's how I know what tomorrow morning, whatever I'm gonna choose. I don't know what maybe it'll be Walmart. Okay, maybe it'll be Cisco But that would be along. All right, so either way I rate the stock and then I choose a directional bias based on the rating and go for it Okay, so it's all about the rating system for me and again, I teach it in the class So the class is called the golden gap course Class dates are May 10th and 19th this weekend 9 to 5 class tuition is 59 99 US dollars Class is online. You can be anywhere in the world and take it. I would definitely sign up But I know later than Friday I'd say noon if you want to get in if you would like a trial to the trading room You can email me if you want to be in the room today is Wednesday. Don't need two more days Thursday Friday Deadline again for the class is Friday and I have the combo class of the trends course Which is next Monday the 20th, so that class is normally a thousand dollars class tuition if you pay for both classes You save 500 bucks So that's long-term trends and then the gap class you learn the system for the gap strategy on the weekend And then I'm offering the options letter free For anybody that signs up for this class by Friday, which through the end of the year Which is huge So you do all the options you get all the options trades at the end of the year Learn the system Saturday and Sunday and then if you want to actively day trade enjoy in the room You'll be eligible to do that after the class and if you just want to do the letter You know you can email me. That's that's five grand a year But honestly, I cannot stress the importance of education. I paid for class when I Started out too. In fact, I paid more for the class 11 years ago that I'm charging right now Which is hilarious because it was 11 years ago and I didn't learn how to make money But you know, I didn't know anything at the time and I did learn technical analysis, you know The foundation that foundation for me was was very very important to know that that price action Matters and and and and it does and in this type of environment social media Twitter news all the way the world's interconnected I just can't tell you how important it is It's it's so much less stressful when you're trading when you have someone that you know knows what they're doing It makes it less stressful for you when you follow someone Okay, it is the bigger picture Even if you can only start out with a small amount of risk $200 a trade or 180 bucks That is okay. You will get to the point that you want to be I don't I don't know how long it's gonna take you I know if you listen and you do all the right things though, you will get there Okay, the problem is if everybody wants everything yesterday That's not realistic people people make all kinds of crazy claims You can open up an account with $500 make a hundred grand in a month. That's ridiculous. That's crazy That's totally unrealistic and you're gonna lose the $500 and then you'll think you can do it again and lose more You have to take one day at a time $200 a day build it up to the point that you can risk $2,000 a day you will get there so much faster than you think if you just take one day at a time and I'm speaking from experience Okay, because I've been doing this in a long long long time any questions From anyone Kathy's been quiet here. We only have a few more minutes Any questions from anyone? Anyways, I know there's a lot of places you can go to You know if you want to refer all you can always ask me you can talk to a student, but people are doing really great this year I'm proud of everyone and and I actually think everyone in the room is doing well So that's that speaks a lot Even though there's many classes out there and not all are good It doesn't mean that all are bad and I think that's where people have to kind of use their intuition a little bit So if anything I said today resonates with you You have to think about it because unless you're going to take the time and the money and several years to create your own system You have to learn a system from someone to do it It's just not as easy as you think to create your own system It took me years But you may have taken many classes in the past and not gotten your money's worth out of them or think that you Didn't or didn't learn how to make money or train There's many classes that that is the case. It's not mine But I understand where people are coming from the reality is though that you only have two choices Find some good pay them and learn what they know or go create your own system and I can tell you from the process that I went through back in 2008 creating my own system was a very difficult process because while You're doing it cost money and also you don't know if you're ever going to figure it out And it didn't take me several years to figure out what I know And I haven't really changed anything about the system since so that says a lot as well because the market conditions have Changed Anyways, think about your goals for the year think about it tonight right now And if you're trading you should not be trading every day without a system You should not be trading if you don't know your goals and if you've been losing since the beginning of the year Nine times out of ten. It's probably your system While there are some people that have emotional issues that definitely prevent them from doing well most of the time It's really the system that people do. It's the way that they're trading that simply does not work Okay, it's one of the reasons the market has been so so tricky So any questions from anyone any questions at all good group here today? Couple good questions again, if you'd like a trial of the trading room email me It's Melissa at the stocks wish calm or email info at the stocks wish calm Do you want to trial for Thursday and Friday? I'm hoping that we get a good one in Walmart That's what I'm hoping Cisco. Yeah, I'm not jumping up and down about that right now I might change my mind in the morning, but I'm hoping Walmart is a was the one, but I don't know what it does Doesn't report to the morning any questions from anyone at all You know me and Melissa at the stocks wish calm if you have any questions if you want to trial for this week You have questions about the class. I'm around Thank you. Thanks so much You're welcome Before we conclude tonight Right, I think I mean