 Okay, great. Wonderful. One, my name is Melissa Armo, and if you have any questions as we go along here today, you can type it in the room and I will say the question out loud and answer it for everyone. I'm the only one that can see the chat, okay? So today we're gonna talk about how you can earn $1,000 a day day trading 30 minutes daily. The idea of day trading is not long-term investing. It's looking at a stock and getting it at a certain time of the day, which I like to focus on the morning, okay? And getting what I call the money move. You get in and out, in and out. Long-term investing is, for example, if you were someone like Warren Buffett, okay? But to do long-term investing, you have to have a lot of money, all right? To be able to hold stocks and buy stocks and hold them for a long time. The benefit of day trading is you can trade on something called margin or leverage, and it's because you're in and out so quick. You're not really buying a stock and holding it overnight. Makes sense? And we will talk about this today. So this is me. If you have questions, if you'd like more information, you can email me at melissa at the stockswush.com or call me at 929-3200 Gap. You can also follow me on Twitter, Facebook, YouTube or Skype. So anyways, we're getting into the end. The end of 2018, it's hard to believe that this year is almost over, but it is. If you're trading and you're not making money this year, it's a good time now to evaluate before the last quarter of the year. So October, November, December is the last quarter of the year, the last quarterly earnings season, and there's a lot of action that will be happening in stocks, a lot of momentum, a lot of volatility, a lot of opportunity. If you're not positioned correctly to take advantage of that opportunity, in other words, if you're not following someone that calls good trades, if you don't have a system that's consistent, you're not gonna be able to take advantage of the money that you could make in the last quarter of this year. So even if you haven't had a great year, bottom line is you could still end the year strong this year. You can still turn things around, there's still plenty of time to do that. Now I'm just gonna show you here, we're gonna go over this trade in a little bit, but this was one of the nice moves that happened, this was an earnings move in FDX. This is FedEx, everyone knows FedEx, you've heard of the company obviously, the stock hand earnings. Now what I do for day trading is I'm looking for stocks that are gapping, and I focus on stocks that are gapping down. Now, for those of you that don't know what a gap is, it's a difference between the close and the open. Stock closes here, closed here the night before at four o'clock Eastern time, around 2.56. Boom, open in the morning, around 2.50-ish, and thereabouts. So the stock closed at one price and opened at a different price and that is what a gap is. Now stocks can gap up, stocks can gap down, this was a gap down, this over here was a gap up. Okay, stock closed here and then moved higher in the price, in the morning, from the close. But today we're gonna focus on this one here and as you can see it was a big bar. Low in here was like 2.41-ish, so it almost moved $10 in the day, even for FedEx, that's a big move. We were discussing this earlier in the live trading room, I run a live trading room Monday through Friday. When you are on the stairway to success, if this is your goal, if you really wanna be a professional trader, if you wanna make $1,000 a day or even only $500 a day, if that's all you need to make a living, because $500 a day is actually $2,500 a week, that's not nothing, that's 10 grand a month and many people could live on that, it's over 120 grand a year. When you start walking up these stairs, to make it as a day trader, really make it, it doesn't mean it's gonna be a straight thing up, it just doesn't work that way. You might have started trading a year ago, six months ago, five years ago, and you're up and you're walking and you might be losing and you might have not gotten anywhere near the top. Sometimes you have to go up and take a couple steps back to leap forward and I know that may not seem to make any sense but think about it, you may get to a place where you are just stuck and if you're at this place now with your trading or even with your career, if you have never treated before and you're considering trading as your job to pay your bills as your career, maybe you're stuck in the career that you're in and that's why you're considering becoming a trader because you're tired of it, you reach the cap that you're gonna make for your income, you don't get any more raises, there's no higher level position for you to go in the company or whatever the case may be. Sometimes you get to a point where you might have to do something else and it seems like it's a step back and it might really be but in order to move forward, in order to move ahead, in order to make that leap and so many people stay stuck with their trading. They don't wanna spend money in a class because they feel like they shouldn't have to at this point because they're not brand new and they've already spent money on classes and they feel like that's taking a step back but sometimes you have to do that to jump forward 10 steps forward or whatever the case may be because the worst thing they could do is stay stuck in a certain set program or system or habit or job or career or whatever the case may be and not make any progress and continually being unhappy. When you're stuck, you're actually moving back anyways. So if you have to take a couple steps back quick to jump forward ahead, know that that's okay and many times people do that on the stairs to success. I wish I could say that doing things, whenever you set a goal for yourself and this may be a big goal for some people. I mean, it was from me 10 years ago when I started but I wish I could say you just take each step up. Do, do, do, do, do. I wish I could just say that but it really just doesn't work like that. It just doesn't and it doesn't with anything in life that's a big goal that you wanna achieve and certainly one where you wanna make a couple hundred grand a year. And again, that depends on your risk. So we'll talk about that more in a little bit. I'm just showing you here. These were all the ticker symbols. You can look at the charts if you want to going back the last six weeks. This was not a busy time. It just wasn't. August started out a little bit busier but then it slowed off towards the Labor Day holiday and then September has been extremely slow. So next week is the beginning of earnings season when things really start to pick up but there were many days in here in the last six weeks that I didn't even do anything. There was no good gaps, no good trades and so the reality is to make 41 grand in six weeks when it wasn't even busy is good, okay? You've gotta go for it when you get the good ones. When you get the good ones, that's when you hit it. And I always say to people, trading is a skill. All right, it's a skill set that you would come if you wanted to learn from me, you would learn my skill set. Ideally, the idea is to learn it in the class. You learn what I know, you learn my system in two days. It's a weekend course and then you take it and you move forward with my mentorship and guidance in the live trading room. Ideally, that's what people should be looking to do. Now that being said, you don't have to be in my live trading room due to the class but it is definitely a benefit. So it's about preparing for the future. You may not be able to do what you want right now this second today or tomorrow but if you prepare and you think ahead and you get a plan of action together, it will lead to success for where you're gonna go. You wanna take positive steps to move forward. Whatever those happen to be and even though it may feel like you're taking steps back, it may not be. Does this make sense? If your goal is financial freedom and you're not on that path or doing anything at all to create that path for yourself or anything even near making the money that you wanna make or if you're trading and you're losing, you're nowhere near financial freedom. So you've gotta do something to change that. Now we are gonna talk about a couple different types of traders here today. Again, day trading is something that it's not investing. If you wanna use my system to trade options, you can. Those would be trades you'd be holding overnight. You do not need a margin account for that. We'll go over one of those at the end. You can still make a living trading options and options alone. Day trading is Monday through Friday. You get up in the morning every day. You're looking for what to trade. You're in and out quick. If you want to do long-term investing, you can even use my system for that but obviously you're looking for much bigger moves and as I said earlier, you need a bigger account. So today we're gonna focus on day trading. You gotta look at yourself and look at your personality and say what type of trader are you? How much time do you have to devote to trading in the morning? What can you afford to risk per trade? How big of an account can you open? Again, how much you risk is dependent on that as well. It's really important for you to know what category you fit into first before you start and you set the expectations for yourself. If you're not in a position where you can risk money to make $1,000 a day, start out what you can and grow your account from there. The idea is to profit. The ideal is to get starting up the mountain and that's why it's helpful to have a mentor, okay? Now really quickly, you're getting into the day trading before we talk about some of the trade examples. I just wanna go over this because a lot of people don't understand when we don't need the cash position to take a stock like FedEx. Like I'm just gonna write this in here now. $250 a share, for example, if you did FedEx, you would not need that full cash value. Why? Because as a day trader, you would have something called a margin account. So you open up an account with a broker. They're gonna give you a margin. Broker margins vary from two to one to four to one or even 10 to one. So you're flat if you're a day trading, something like FedEx again, before the close of business of four and all the day trades, which is what we do in the room. So I'm focusing on day trading, usually the first half an hour of the day, the first 30 minutes we're in and out, but you could theoretically trade all day and get out before four. But you're not outright buying the stock. You're not outright buying it or holding it overnight. When you get a margin account, you don't need the full cost position because you're not holding it. You're not actually getting the stock mail to the stock certificates or anything like that. Does that make sense? So for example, on FedEx, let's say for example, you had, and I'm just gonna, let's let's do a four to one margin on this just to see 250 divided by four. So you would really only need 62.50 of the cost of something like that to take one share. If you had a four to one margin. Got it? Just so people know because they say, oh gosh, I mean you hundreds of thousands of dollars to day trade, no you don't. No you don't. And if you had a 10 to one margin account, it would be what? 25 dollars per cost for again, one share. I'm just talking to that FedEx just to show you. So if you're at a proprietary day trading account, you need 10 to one, usually it would be 10 to one. Retail is four to one. And again, this is active day trading. And if you don't know what I mean, this is a question to always ask your broker or you can ask me if you have any questions about this. But it's important for people to know that because they see stocks like FDX and they say, oh gosh, you know, 250 dollars a share. The other thing is you can do that as an option trade. So you could have bought a put, which is basically shorting FDX and made money and all you would have needed would be the cost of the option. Okay. And it was getting back to what I was saying. My system is called the golden gap system and it can be traded with any size, any size day trading account. The most important thing though is to learn the system first. You can open an account up after the class. And if you have an account already, all you need is a live chart. You need to be able to short. You need to be able to buy stocks and you need to be able to day trade to get it in and out. You must have charts in a level two. But there are no penny stocks that we do and we really don't do even cheapy, cheapy things. Every once in a while, we might do something in the five, six dollar range but even that's cheap I guess to call it. We wanna do stocks that have volume and we wanna do stocks that move and penny stocks are just junk. Okay. I'm not taking 500,000 shares of something to try to make a thousand dollars. That's ridiculous. They just don't move enough and they're very, very risky. Any questions so far? Anyways, getting back to what I was saying was when you're trading, you are making money and you're doing it from home or you can do it from your office. That's one of the benefits as well of becoming a day trader and working for yourself. Any questions so far? So anyways, a lot of people come to me and they really similar up and trying to figure this out. I, you know, this is so hard and blah, blah, blah. Listen, I get it. I've been doing my thing here for a long time. So it's not hard anymore for me but when I started it was hard for me as well. Mainly because I didn't have a focus. As soon as I got my focus and knew what I wanted to do, which was gaps, it started opening up a whole new world for me and then things started to be easier for me. I think a lot of traders go back and forth, back and forth, back and forth and they really lack clarity, they lack focus, they lack conviction and this creates what? Second guessing themselves. You need conviction to trade. You need conviction to make money. You need conviction to make any money at all. Let alone a thousand dollars a day. You will lose if you don't have confidence in yourself and your trades and if you don't have conviction and if you take a trade and it doesn't stop out but you're down as soon as you take it and you kill it with a loss and the trade goes on to work, you're gonna go be crazy in your head all the time about this. You've gotta have this thing called conviction and it's confidence and it comes from what? What creates the confidence? Why am I so confident? Why have I been doing this for 10 years? Two, I'm an expert in what I'm doing and three, it's because all I focus on. It's all that I focus on and actually every time I teach my own class I'm going over the knowledge again in my head again reminding my brain over and over and over again what to look for in a chart because what I do is based on technical analysis. I'm gonna look at charts in a minute but it's what I do and here's something funny. So I called an option trade on the options letter this morning. I got tons of emails today of people second guessing themselves in the trade. They were ready in the trade. One guy already told me that he took it and he killed it within five minutes of killing it and not everybody on the option letter is a student. So it just goes to show you why understanding the system is extremely important and vital to be able to take good trades because some people on that letter you do not have to do my class. It's not a prerequisite for the option letter. Some people took the trade and killed it for no reason at all. Just because it started to be down a little bit and they got excitable and they killed the trade. You won't make money if you don't have an understanding of what's going on. Okay. Any questions so far? Everybody with me. Anyways, I'm looking for just that morning move. And again, this isn't for options. This is for the day trades. You're in your route. You're in your route. You're in your route. I'm looking to get in and out very, very quickly. There's no overnight risk in day trading. You're always in control of your money. I use stops. It's a limit order stop. And you set your risk. So what are you trying to accomplish each day? If you're risking 500, you're trying to make 500. If you want to make a thousand a day, guess what? You have to risk $1,000, $1,000 cash. That's nothing to do with the share quality of the position. Why? Because you could take a trade and here I'll write it in the room again. And I could call the trade and say 10 by 50. Well, that's 40 cents. If you're risking $1,000 is gonna be a lot of difference than if you're risking 500 for the share quantity. So you can't take a set amount of 2,000 shares, 3,000 shares or 4,000 shares that we trade. Does that make sense? First of all, if you took 4,000 shares of that, you'd be risking way more than 1,000. You'd be risking 1,600 bucks. So you can't always take a set amount of share quantity. That's another mistake a lot of people make. They have a set limit in their queue and they just press it and it's all different all the time. You won't have consistent results. But anyways, when your day trading returns can be incredible because you're just getting to move in the stock, you're taking big size positions, you're getting in and out very quickly and you're getting that momentum that comes in in the morning and you don't have to worry about holding night and you don't have to worry about, like I said, having the cash equivalent because you're trading on margin. What percentage of success is methodology and 1% is intuition? That's a wonderful question. I don't think anyone's ever asked me that question and that's a really good question. Here, I'm gonna copy and paste this for everybody. This is from Ajax and I will answer it now. There, so he said, or she, sorry, I don't know who Ajax is, a griller guy. What percentage of success is methodology and what percentage is intuition? It's, as far as my methodology, it's based on a 26 point rating system. That is the system you would learn in my Golden Gap course. That's not intuition, it is the system you learn it and you do it. It's nothing to do with intuition at all. It's a methodology you would pay for the information, learn what I know, rate the gap. If the gap rates 20 points or more, you can take it in the direction of the gap. If the gap rates under 20 points, then the rule is don't do it. Now, he's asking me what percentages of intuition. The system itself is 100% methodology. You learn it and you do it and you follow the rules. For example, today, today there was a gap. The only gap that there was there, it rated 18 points and I said, we're not doing it. Guess what, it worked. But I followed my rules. I followed my system. It fell anyways. We could have shorted it. We could have made money. I didn't do it, why? Because I followed the system. So the methodology is 100%, you do the system and you follow the rules and that's it. Now, as far as intuition, I'll tell you where my intuition plays a part and this is true in the live day. In the, there's two times where my intuition plays a part. In the morning, in the pre-market, if I have two things and I'm trying to decide if I only wanna do one ticker symbol at a time, which I only do. If I have gap A and it rates 22 points and I have gap B and it rates 22 points the exact same per the system, it's my intuition when I'm running the room that I decide I think we're gonna watch B instead. That's nothing that you need to be successful. But if I have two things that are exactly equal, sometimes there's that extra thing, which I can't pinpoint that my intuition says, this is a good one. We're gonna watch this one. Now, where else is my intuition good? This is true too. When I can tell when something's gonna go in a big, big way. That is not something that I can explain to you. I can't tell. And here's an example of that. Recently, actually, no, here, here. Well, I'm gonna fast forward to this. Here, hold on. I'm gonna fast forward to this here. We'll go back and go over the stuff we missed. Are you there, Ajax? He's asking what percentage is of intuition? I said if I have two things that are the same, it's my intuition that says we go with the one. And the other way my intuition tells me that something is going to go in a big way. So this was an option trade I called in the diamonds and the DIA. Now the trade worked. The trade was up. You could have taken the trade here's where I called it. It was September 10th. So called two different strikes. You could have done the 260 or the 265s. Now here was the day. Here, see this puppy here? So I called it on the state. The trade was down. So once the trade started to be up, everybody was scrambling, scrambling and scrambling to get out because the people that took the trade that followed it through were down money and then they were up and they got all crazy and wanted to get out and a lot of people did. My intuition said this is gonna continue to go. Now did I know that 100% is that anything I can pinpoint in a class? No, no, not at all. But that's experience. It's experience reading price action for 10 years. And that's something that you just, you would just ask me and I'll tell you. So that's nothing to do with the system. If you took the trade, you were up money. If you wanted to ask me if I thought you should hold it, I would have told you exactly what to do. And some people listened to me. Gala had it here. He listened to me. He added to the trade. He held it. He got out too early. And he didn't listen to me then. He didn't listen to me then the next day. He listened to me the first day and then the second day he didn't listen to me. But at least he listened to me a little bit. Anyways, that's intuition. Knowing that the trade would be up and be a big one. And here was the trade. So if you did the trade, it was so dirt cheap. It was ridiculous. You could have bought these for 30 cents. You could have spent $2,400 on 8,000. It's 8,000 shares. It would have been 80 contracts. So you would have bought it and you would have sold it. And your profit in this would have been $11,600. That wasn't even at the high of the option trade holding it in the very, very, very, very, very last day. But that was getting the bigger move up, which not everybody got. So this was a case where you could have made 480% return investment. You had to hold it from the 10th until this pop up in here. That's the move. But I'm telling you people were up in here. And that was intuition for me to know that it was gonna keep going. If you did a smaller share size, again, 800 shares, 8 contracts, risk $240. Profit was still amazing. For the risk to risk $240 and make over $1,000, that's a huge trade for many, many people. And I don't think there's anybody in here that couldn't afford to risk $240 bucks. This is an option trade. It has nothing to do with margin. Return investment 480%. However, getting back to what I was saying earlier about conviction, if you did this trade and you were down, and then the market gap down here, if you killed this trade and didn't know what you were doing or didn't have conviction and killed the trade, you missed all the profit when it went on to move wherever you got out. So again, that's why the knowledge helps. So tier things are based on intuition, but it's not the system. It's whether or not it's gonna have a bigger move to hold it, which not every trade warrants, but that's intuition when I see it in the charts, reading the price and experience, and then determining between two equal pointed rated gaps. But that's neither here nor there. If you want to trade everything that rates per my system, you can. If there's five gaps at all rate, 21, 22, 23, 24, 25, trade them all. You're gonna have a lot going on. You're gonna have a lot to manage if you're in five trades at once that are all happening in the first 30 minutes of the trading day, but do it if you want to. I personally like to stick on one thing. So that's just me. So I'm always trying to narrow it down. Good question though. Here we were. Anyways, if you wanna make a living doing this, you gotta risk $1,000 a trade to make $1,000 a day. I mean, you just have to. That is what you have to do. So let's look at this FTX. Again, this was a big one. Again, it was expensive, but if you couldn't do it in the way that you wanted to as a day trade, you could have bought the putts. Now, here was the move. Again, here was the beginning part of the day. It just opened and went crazy down. So you could have actually got in it here. We did it later. Again, we didn't even get this. So I was watching something else at the time. I don't even remember what it was. Anyways, we did this. So this little thing in here is 10 minutes is all the money that you need. So you could have done it here. You could have done it here. You could have done it here. I wouldn't have done it later unless you would have waited much, much later. But again, I like to watch between 9.30 and 10. In the morning. So here was the trade. Again, I'm showing you advanced and beginner just in case you are not prepared financially to take the risk. You could have risked $260, I mean $285. So this is your expectancy per day, one to one. In this case here, you could have risked 2,600 and made 2,850. Again, $2,850 in 10 minutes and this happens all the time and in earnings season it happens a lot. One to one. Again, on retail, your cost was, you would have needed 61 grand in a retail account like an e-trade or a merit rate, someplace like that. If you have a prop account, you would have needed 24,000 plus. If you had a retail account to do this, you would have needed what? 6,100 approximately. And on a prop account, what? 2,400. Again, quite different here about the money you're risking and about the money you need. But even if you make $300 a day, that's $1,500 a week and that's six grand a month and that is more than a lot of people are making day trading because most people have problems with the consistency. Do not stick on the same thing every day. They don't know how to trade the beginning part of the day and many day traders don't even take trades until after 10 a.m. So when I'm in and out in this period here, I'm in and out by 10, people are looking to wait to take it later and many times they're doing the reverse. They're doing the reversals of what I'm doing, which is completely wrong because you can see why would anyone on this planet have gone long this stock on this day? Now I'm gonna go show you here at this moment here, when we exited this trade, the stock was at around 42.50, so it was there. So the stock at around 2.42.50 were bounced. The morning bounce I'm talking about was from the 50 premium of an average, that's the green line and a lot of traders like to buy this moving average, like to buy this line. Do you see here, if you bought this, you would have lost and you see that it broke it and you can see this over here in the bounce. First of all, it's a short cover and then you do have people that are trying to buy this. Do you see this in here? Dangerous. The philosophy behind my rating system, which is the method, which again is 100% methodology, not intuition, is that you are looking for institutional buying or institutional selling. So in this case here in FDX, you had institutional selling. You are shorting with the sellers here of FDX, the people that are selling the stock that are dumping it. Any questions so far? Okay, getting back to what I was saying, you have to look at it and say, okay, this is what I'm risking, this is what I wanna make. How many pennies? Will you look at the pennies? The pennies is the difference between the entry and the stock. And I call the entry and I call the stop in the room every day for you to follow me. We're usually only watching one thing a day, one thing. And the nice thing about trading gaps is that you just don't have to do it all day. Personally, I get annoyed if I'm waiting for something to go even for an hour. That's not that that ever happens, okay. But obviously it definitely, definitely can happen, but I prefer to get in and out quick. Any questions so far? So again, the idea of day trading, if this is what you wanna do is you're gonna do it in the morning. You're gonna prep in the morning, the room opens at 8.30, you get up early, 7.38, you get ready, you rate your gaps, you trade between 9.30 and 10, you probably block out about two hours from your day to situate yourself to do it, but you're really only in trades maybe 30 minutes, maybe a little bit longer. You gotta get good at doing this, you set your risk accordingly. Decide where you wanna trade, proper retail. Decide if you wanna focus on the options, if you'd like doing the day trades, okay. I like the flexibility of doing both, okay. But don't wait to trade because you can't afford to risk $1,000 a trade because you will be getting better. The longer that you trade, the more that you do it, even if you risk 50 bucks to trade, between now and January 1, you'll be better that you could risk more than that and you will build your account up. If you start out with a small account with 2,500 you should have your account doubled, tripled, quadrupled within that period of time. You can do it. You've gotta follow what I know and as far as getting back to the intuition, no one should be using intuition really except for me because I've been doing this for 10 years so you have to follow me. So when I say hold something longer, go with it. If I say this is a quick trade, get out, get out of it, all right. Anyways, it's good to have a calculator with you. You can't figure out numbers in your head. I'm good with numbers in my head quick but if you can't have a calculator next to you when you trade and think about doing this. I mean, I think it's a good idea for transitioning. You're like say you're in a job you don't like. Day trade in the morning, go to your job in the afternoon. That's what I used to do when I started out in 2008 I was doing mortgages. So I did mortgages in the afternoon I traded in the morning and that's how I made the transition until I was making a set amount of money because I just had to focus on that morning period which it just worked out for me. So obviously the benefits of day trading is you work from home, you only work a short time of the day and no one's forcing you to trade. If you wanna take a three day weekend, you know, whatever you wanna do. No one is telling you that you have to be there five days a week, 365 days a year as many days as markets open about 200 plus, all right. But there are things that you have to do. Call it taking risk, call it spending money, call it going through the process of learning, putting yourself through this and saying, gosh, you know, like how am I gonna get to this point? It's gonna cost me time. It's gonna cost me money. I'm gonna have to learn all this stuff. I don't understand it. Yes, yes, that's right. You have to go through the process and you have to be willing to do that. You have to ask yourself, how badly do you want to get to this point? It's so easy to say, well, sure, I wish I could snap my fingers and have everything right just like that. But that's not reality. Life isn't like that. Success is not like that. Very few people ever started trading in the day that they did. They were immediately successful. In fact, I don't know anyone has ever had. And you know, when I started out, I didn't know what I was doing either. So you have to get to the point where you say, there is a cost. There is a financial cost. There is a cost to your time. You have to set it up in your mind to prepare yourself for that cost and determine that this is something that you want. You're willing to go through the motions. You're willing to pay the cost because fast forward six months, 12 months from now, three months from now, two years from now, whatever. You will be at the place where you say, oh gosh, I'm so glad I did that. Everything really worked out. I'm really glad I did it. I'm so glad I know what I'm doing now because the sooner that you wait to start, the longer it's gonna take for you to achieve your goals. Waiting is never the answer. And I heard something this morning. Gosh, what was it? Shoot, what was it? I was watching, I was watching Fox and Friends. Dr. Oz was on. I'm sure you guys have heard of him. He said something that, in a crisis, this is what, he said something, I don't remember his exact words, I should have written it down. He said something in a crisis situation, you're better to be, the smartest thing that you can do is to be an action taker, not an intellectual. So thinking is bad. Acting is good in a crisis situation. And I thought, gosh, like that couldn't describe me more. Like, I do think things through and I am an analytical person, but I'm a very, very guttural person. When I wanna do something, I'm an action-oriented person. I guess that's why I'm a leader and that's why I run my own business and run the trading room and, you know, trade. But I'm an action-oriented person. If you are not an action-oriented person, then trading is probably not for you. You won't be able to press the button when time for the trades is set up. You'll miss moves like FDX, you'll miss the money, you'll miss the profit. You probably will miss out on even learning from me or taking my class because I won't do this forever. So if you're an action-oriented person, you have more of a chance for higher success in life and to make a lot of money. If you need to think things through, way more than being an action-oriented person, then you are gonna be watching your life go by you. And I think that that is the struggle that a lot of people have. They overthink trades. They overthink what to do in trades. They overthink everything that they do and they don't act. And I think that is very problematic for people. They overthink it. In fact, I jokingly have said in the trading room, in fact, I said it to Phillip, who's here, be a monkey. And if I hadn't directed him in that diamond trade, he never would have made $5,000. And then you jumped right out of it instead of being a monkey and you should have asked me what I thought of it the second day and I would have told you to hold it into the clothes. There's nothing wrong with acting. Once you know what to do, you have to trust in yourself. And many people do not trust their own decision-making. So they overanalyze, think and think and think and second guess themselves a million times. There's nothing wrong with being a monkey when you're new, when you're learning. If I say it's good, you take it. Pattern day trader minimums, I just went over that. I just went over that X craig. If you wanna open up a retail trading account to actively day trade, you will need a minimum of $25,000 and you get four to one leverage. If you want to actively day trade with a proprietary day trading account that will give you 10 to one leverage, your minimum will probably be $2,500. So a prop account is different from retail. I gave both the examples of leverage. You must contact those two different brokers. You can actively day trade with less than $25,000 at a proprietary retail account. I mean a proprietary day trading account. You cannot at a retail account. It's up to you where you wanna trade. There's plenty of good places out there. Don't wait until you have 25 grand because many times what happens is people have $25,000 and then that's it. And then guess what? If you have $24,999 and zero cents, they're gonna cut your account off the next day. You really need like 30 grand, 35, 40 really to have a retail account. And many people can't come up with that but it doesn't mean you can't day trade. It means you can't day trade at a retail account. You need to go with a prop place. And I think when you're new, a prop place is good because guess what? They're gonna cut you off. They'll never let you lose all your money. They will cut you off. You will have a stop limit on the day. It's good for you. It enforces a discipline. When you're at a place like a trader, a merit trader, whatever, if you lose 30 grand in your account in one day, they don't care. They're never gonna cut you off. You could trade all day and lose all your money if you want and they'll never even notice or say anything. So if you're new, I'm telling you, prop is actually a good way to go because it enforces the discipline. I don't think that's bad for anyone. If you want referrals, you can always ask me. Um, where are we? Any other questions? Good. At least action is good. Nonaction is bad. Overthinking is bad. Trusting yourself is good. Any other questions? Anyways, when you're trading, it's a short time of day. And what else? I'm looking for a big move in the day. I'm looking for high probability of directional bias from the entire day. I'm focusing on getting into trades by 9.30 and 10 and I want a good risk to your worth, which is me, a minimum of one to one. Again, you chunk it out. You chunk it, you chunk it, you chunk it, you chunk it. Okay? Some days you get a big trade. Some days you can make $2,100. Some days you only make $500. Some days you make $1,000. Some days you make $1,250. Some days you don't trade, okay? You have to look at it like every day is its own universe. And that's why you can't get crazy. If you get up to our morning and you lose on the first trade and wanna stop, fine. You're never, you should, one losing trade isn't gonna kill you. The problem is people get all excited and they start out the day losing, they say, oh, I gotta get it back. Oh, I gotta get that back. Okay, fine, do two trades if you want. I think one trade is enough a day, but do two, that's fine. Give yourself two. But don't, if you take the second one and the second one you lose, don't keep trading and trading and trading and trading and trading the four o'clock and doing 100 trades and then you lose all your count. And a lot of people do that. I can't tell you how many stories I've heard people blowing up their account, okay? Have a set risk, stick to it, put in the stop. I call it a hard stop because you put it in and you're not supposed to change it, okay? And be okay if one or two trades loses, all right? You can go back and look at the stats from earlier. Some of the trades in the last six weeks were losses, okay? Not every trade you take is going to work. That's why I set risk. Otherwise, I'd just risk my whole account in every trade. Which I don't, but I mean, if I never took a trade that lost, then I could do that, theoretically. But that would be silliness, okay? Yes, this was a nice option trade. It was to buy the calls. Beautiful profit, beautiful move. We'll have a lot of this insurance earnings season looking forward to that. But anyways, whether you want to do the day trades, whether you want to do the options trades is totally up to you again. Option going back to brokers, you don't have to worry about the pattern day trading if you're option trade, okay? You're not taking the cost of the position. I mean, the cost of the stock is just the cost of the position. But it is important to be consistent with whatever you do, all right? Now what would you learn from me? My system is called the golden gap system. It's a 26 point professional bearish gap reading system. The purpose of the system is to help you evaluate which gap to trade each morning using a checklist. This checklist tells you what to trade, when and in what direction. The 26 point checklist predicts directional bias in a stock. So one strategy is all you need to be successful. It's what I think I've done for 10 years. And I even started a business. I'm teaching other people to do it. This one thing, that's it, okay? I've gotten very good at it, okay? So if you want to make money, you have to get good. And if you're doing too many things, how are you ever going to get good at one? If you want to win the US Open, well, you can play all the sports in the world. But if you don't practice chess enough, you're probably not going to win. You have to be the best in the world, all right? So get really good if you want to make a lot of money. And quite frankly, I mean, $1,000 a day or $2,800 in a trade, I mean, to be able to make those kind of consistent calls and trades and get those moves is not always something that many people can do. So that really is a lot of money. Because when you consider the amount of time, it's minutes, it's seconds, it's less than an hour. I mean, some people work all day. Some people work all week and don't make three grand. So you're learning how to read institutional money and the price patterns and gaps. That's what you learn from me and you don't need to do anything else, for real. If you're doing this, you'll make money and that's all you need and you increase your size over time. Any other questions? So if you are okay with the time period between 9.30 and 10, it can fit your schedule to be in and out quick and work from home. This might be something you wanna look into. The class is called the Golden Gap course. The class is October 6th and 7th, 9 to 5. Cost of class is $54.99 US dollars, class is online. It can be anywhere in the world and take it. I offer a combo, trends in the Golden Gap, two classes together, same $500. This class is October 22nd and then you do the one in the 6th to 7th and then the 22nd is that class. Any questions before we are done? If you want a trial, you can email me here. I'm giving two week trials for this class. I'm also offering a special before the new website launch all the way up until before it launches October 5th. You would get the trading room free for one year and the options letter free for one year. The deadline is October 5th and whether you do the class in October or doing in November, the deadline for this offer is the 5th and I will not be doing any more class specials ever again. Once the new website launches, you'll go, you'll go there, you'll sign up for whatever products or services or classes I have and whatever the prices it is. So the benefit of signing up and doing these classes, you have the support of the room for one year without paying extra and the options letter calls to again without paying extra and you do the class. Any questions from anyone that I know we have a few minutes here. Wish there was something gaping tonight, there's not. We can quickly look at the market and ask me any questions if you have any. See if the market's doing anything tonight or not. No, not really. So this is the after hours. We're not really moving. No reason really for us to have moved. I just thought I'd take a look at it. Any questions about anything? We're done a little early here. I have time to answer any questions from anyone. Couple good ones here today. Again, if you want a trial, email me. As everyone doing. Hello, is everyone. I'm Jack, if you want a referral, I can send you one. One good one that I know of. If you don't like the one I refer to you, you're kind of on your own. I wouldn't go anywhere though. My two cents is don't go to any place without knowing somebody that's traded there. In other words, don't just look up some place on the internet and go. Go to a place that you get a referral and don't go to a place that you don't. That's my two cents unless it's a well-named company like a broker like Ameritrade or E-Trader or something. Don't go to just a fly-by nighter where you don't know anybody that's ever traded there. Don't do that. Yes, of course I've added depositions a million times, but that's only if there's a reason it's not something that I do every day. If I do it, it's because I'm in it longer, probably in it trying to make more out of it than it really is going to do. For example, a waiting for something to go. It's taking forever. I've got to get going. I know the target's not as big as I thought it was going to be now because it's taking so long. So I might double my risk in a position and get a smaller move. Again, that's not something that's ideal. And I certainly don't do that every week. You can email me if you would like a trial to the trading room. Yes, I will send it to you. You must have hotcom and Kathy can get you in for that. Trying to think it was anything else that I was going to say tonight. Any other questions? Oh, I know. There was a guy, gosh, what was the guy's name? He emailed me. I forget his name and he may be here. Hold on, he emailed me over the weekend. Lauren, no, he's not here. Well, there was a guy that emailed me. He's going to be in the trial this week. I thought he might be here at Lauren. I don't think you're here at Lauren, but anyways, he's like many people, but he's only been trying to trade, I think, for less than a year. And then he took some classes and didn't learn anything and he lost some money and then he did this and that and blah, blah, blah, and then found me and now he's saving money for my class. But he said he's saving money for my class and he's going to have to make money trading to save money for my class. And I said, well, how are you going to make money trading if you don't know how to trade if you've been losing to save money for my class? I get that all the time. I mean, people trade and they don't know what they're doing and I encourage people to not do that. You're better off going out and running out and taking a part-time job to save the money for my class in some other way. I don't encourage people to trade to make money for my class because if you need to do my class, you don't know what you're doing in the market. So therefore, don't keep trading and trading and losing and losing and trading and losing and winning and losing and ultimately losing because it'll take you longer. Go out and make the money, save it, do whatever you need to do. He was cute and his response back, it was very long but common sense tells you that's just not going to work. It's a commitment. I mean, it's $5,500, it's a commitment. But the deal for the room free and the option letter free for a year is a great deal and I'm not going to be doing this anymore. So take advantage of it. Plus, October and November are going to be great trading periods. It's a good time for you to learn the system and do the class. There's going to be a lot of gaps. So it'd be a lot of FDXs. Right, it's a catch 22. It's like, oh my God, what was that, Seinfeld? I need to get back to watching Seinfeld because there's just not enough good TV on anymore. I need to get back to watching the reruns. I was watching the reruns so much that I saw them all a hundred times and then I just got tired of it. But what's the one where George says, somebody has to remember this one. George says to Jerry that he wants his dream career and he wants to be a professional sportscaster or baseball something or what did George, he said he wants to do something. He wanted to be a professional like sportscaster and baseball or something. Like it was hilarious. And then Jerry was like, yeah, but they usually hire people that do this. It was like hilarious. Does anyone remember that one? Do you know which one I'm talking about? It was one of the earlier ones. It was like the first, first season. And George was like, well, I really want to do this. It was when George was unemployed and wanted a job. George was unemployed like all the time, which is so funny. Remember it was a real estate agent once too. George had a million jobs on that show. Surprised he wasn't a traitor. Anyways, listen, no, under the desk napping was when he was working for somebody else and he had sex with a cleaning lady. That was the Christmas party cafe. That was the one where the cashmere, cashmere sweater one. That was the cashmere sweater one. It was a different episode of cafe, but you remembered, yes, he was fired. He had sex with a cleaning lady and then he got fired because he gave the cleaning lady the sweaty. There was a ring gifted from Jerry, giving it to Elaine that had the, and George gave it to Elaine because he bought it at a discount because it had, but he had a stain on it. After watching them. Yeah, I know them all. I know them all by heart. Listen, have a great night. I'm in the mood now for Seinfeld. It's a big and fine reruns on now. It's 5.15, I'm gonna make supper. Have a wonderful evening, everyone. If you are interested, email me at melissathestalkschwisch.com for a trial in the next two weeks. If you're interested in the class, email me. If you have questions, email me if you want to refer for a proper email me. We should have some things this week. Today was slow, but I know we'll get some movers this week and some earnings that are coming out. We'll see what we get, okay? All right, have a good night, everyone. Thank you, Kathy.