 Good morning. Good morning everybody Russell more coming to you live the channel is dedicated to financial literacy and We are dedicated. We are dedicated to financial literacy. Amen. So, um Good morning, everyone. It's Monday morning 9 30 Pacific time. I'm here on the West Coast Camarillo, California just about an hour away from Los Angeles LA where the LA Lakers live in the Los Angeles ramps By the way three and oh give it up for the ramps. We beat hey, Brady. Sorry, buddy. We got you. We got you Brady We got you anyway. Good morning, everybody. How you doing? Um, First of all, I want to do a quick update of what's happening with the stock market the stock market is Kind of choppy today, it's just kind of undecisive The S&P 500 was about at age about 20 minutes the last 20 minutes when I checked it was about Eight points under eight points in the red the Dow 147 points up up the Dow and then the NASDAQ was a hundred points down So S&P 500 eight points down NASDAQ a hundred points down and the Dow was 147 to 148 points up. We'll see how it ends. Okay, keep an eye on the market all you traders out there and investors now this channel is really about Financial literacy teaching people about how to be financially litter literate and So we go over various different things We go over housing at the last few episodes. I've been talking about ADU's accessory dwelling units and how valuable they are especially particularly in Los Angeles right now and how so Many African-Americans do not know not just African-Americans But particularly the black and the brown a lot of them do not know anything about ADU's and the power of having an ADU If you own property in Cal in Los Angeles because why the inventory is so low homelessness is up We need housing we need housing and so the the state of California is actually past several assembly bills And I went over in any other episode so I'm not gonna go over it today But they went they have passed a lot of things that have made it first of all cheaper to build an ADU On your property They've allowed they've removed some of the stipulations and all the resistance and it's a lot of things that they've done Okay, I would I would encourage you I would encourage you Google ADU in California. Okay, so So we talk about budgeting we talking about getting out of debt We're talking about credits your credit getting your credit right getting your credit together You know a lot of people have all these different hacks on how to To improve your credit score, you know how you want to prove your credit score Hey them Hey, the people you owe. Oh No man, but love that's all you should owe them is love Pay them Your credit score will go up Get rid of all that debt begin to say no to McDonald's And your Netflix subscription take that money and put it on the debt Put it on a credit card debt Say no to some of your luxuries Until You get out of debt and then you can splurge a little bit. I'm not against Netflix. I'm not against subscription We got to live we got to enjoy life. I get it But not at the expense of being in debt Say no to Starbucks for about six months and take that five hundred dollars that you've been spending monthly on Starbucks and Take that and put it on a credit card that you owe or that home Depot card lows That JC penny card whatever card Begin to look at your debt and attack it attack your debt and If you attack your debt Great things awaits your future You'll have the freedom to do so much more when your credit is much better You know, I was looking at our credit score me and my wife and I'm not bragging this is not bragging It's taken hard work a lot of discipline. We've had to say no to a lot of things Including going on vacation for the next the last two years We've had to say no I was looking at my wife's credit score is around 780 790 and I'm at 75 775 We're right behind each other close to depending on which Credit bureau you're looking at one of my credit bureaus from 790 But our goal by the end of this year is just be at 800 and there and stay there Okay, so Make that your goal say tell yourself look I want to be here at a certain place as far as my credit score is concerned and Then begin to make a plan on how you're gonna get there But I would say that about credit score. You want your credit score to get improved pay off your debts All right, a lot of people said well, you know, you can you can call them and give us a settlement Settle with them. Well, they didn't settle with you when they loaned you the money They didn't say well, we'll give you a partial of what you're asking for it wouldn't have met your need I'm just saying yeah, I'm just saying they did not give you a settlement Do the right thing one thing that I push and this is what I do is well This is what I push or anybody I coach and as far as finances is integrity So I don't tell them to get a settlement now if you have to do that, okay If you absolutely have to but keep in mind they did not give you a settlement when they landed you the money They gave you what you asked for if for what you qualified for okay. All right Let me get off my rant. All right. Let me do today I just want to talk about one quick thing and one of the things that I'm doing with my channel is that I am I'm not gonna be long. These segments are not gonna be long I know that you're busy. I know that you don't have time to just sit there and listen to people just gravel You know, it's got to be something that's gonna benefit you And so one of the and one of the things with this channel I deal with financial literacy But I talk about the stock market I talk about stocks, but it's basically for newbies New investors those that are new to the stock market particularly of course. This is not for institutional institutional Investors this is not for the mutual fund guys. This is not for the hedge funds. It's no they're not gonna be looking at There's something like this This is for the retail investor. You're brand new to the market. You don't know what you're doing You lose money one week and make money the next but you haven't been making any gains Here's what I want to talk about Why am I not making gains in the stock market? I'm new and I'm not making any gains Number one I say this all the time Anybody that knows me and there's a and text out my channel. This is what I say all the time if you do not Learn you will not earn. I'm gonna say that again. I was I was mixed to get up in my mind if you do not learn you will not earn number one Learn as much as you can Read books About stock market Read about charts in the value of knowing charts Read about trends read about technical and of being you know technical analyzing read about fundamental analyzing which is what I push a lot Because it because it means that it means that Fundamentals if a company is fundamentally sound they have a good good good good leadership and executive team Excuse me the PE ratio is strong The profit margin strong Revenue strong cash flow strong Are they growing do they have a competitive edge? Those are fundamentals Now I'm not saying that technical analyzing is not as bad. In fact, I think you should learn both But the first thing you want to do is Is if you don't learn you will not earn so you got to learn Okay, now it's not just about learning and getting a bunch of information practice number two Get on a platform and there's a lot of most of the platforms will have practice sessions Okay Where you can paper what they call paper trade? It's not real money It's a simulation So get on there and practice because this is one of the values of that is that because you're not trading your real money Your personal money you'll be more free to take risk and that's how you learn the fearful Will be tearful Let me say that again. I said the fearful and investing in the stock market will become tearful So Simulation trading will help you break a lot of your fears now once you get your real money. You still got to attack fear So paper trade Okay Number three get a plan Decide what you want to be number three decide what kind of a trader or investor you want to be I Like to put them into three categories Day trade here's the thing about day trade though usually Because of them there's a day trading rule From the FCC a day trading rule you cannot exceed more than four trades a week and Then if you have those four you got to wait a week Unless you have $25,000 in your account So unless you have $25,000 in your account, you're gonna be limited on their day trading So I never suggest to anybody that's just starting out today trade Unless they have $25,000 and even if you have $25,000 you need to be a little bit more experienced because Decisions you're gonna have to make her a little bit quicker. You're getting in and out of different trades It's gonna require a little bit more. So that's the next Category or the next area is Swing trading Swing trade swing trading is and day trading by the way is Day trading it's you buy that one day and you sell that same day. Okay day trade. That's pretty simple, right? Swing trading is anything from a day and After a day So you buy the stock today you sell it two days from now three weeks a month. That's swing trading and Then there's positional trading or long-term trading Where you buy and you hold it you do you have no intentions on selling it you're looking for gains a perfect example of that is warm Buffett Warm Buffett is probably the greatest of all time Unless you add Benjamin Graham in there who's The intelligent investor that's a great book to read by the way, so long term So you got to choose which one am I I Do all three I grew into that though. I do some day trading. I definitely do swing trading That's mostly me and then fourth. I mean and then lastly I do I have some long-term trading and each of those are in different platforms So my fidelity count is for long term That's more buy and hold positional trading my Robin Hood I have two options and it's a lot of swing trading and day trading and then I have a Ameritrade TD Ameritrade which is mainly Swing trading so my day trading is more in my Robin Hood account Okay day trading and I do some swing trading in that as well as well as options Okay, this is not about options if you're new I know you want to make money Here's the other thing I want to say number four You must deal with your emotion Your emotions what I mean by that you must make a decision that I'm not going to let my emotions rule my trading There will be times When everything in you is going to be telling you screaming at you sell this stock sell this stock and Your feelings because say it's going down and here's what a lot of new traders do the stock starts going down And they're like oh, no, I made a mistake and then they sell it Here's what you have to remember you have not lost any money Just because the stock goes down does not mean you have lost money You lose money when you sell it after it's gone down and Many times let me tell you there's an old saying what goes up must come down what goes down usually goes up at one point It will go back up Her for example MG MGM resorts Pandemic it was at $12 You guys it had sunk down from I think the previous high was $50 something it went down to $12 And I had you know, I people were selling it selling it selling it held it Do you know where it is now? We're talking about a little over a year later a year and a half later 18 months later MGM resorts is at $44 today Just just when the pandemic started it went down to 12 probably I think it was less than that $10 If I let my feelings run me and tell me what to do I would have sold it You buy on the dip That's my next point buy on the dip buy on the dip Wait and buy on the dip load up when catch it when it's on a discount and hold it It'll make money for you People that were disciplined and patient are Making money this year Because the market is not doing this it's not doing what Tesla did. Yeah, I rolled the Tesla wave, too I was on it. I Was on that my little Tesla surfboard and I rolled the wave But that most stocks aren't doing that they'll do this and Upward trend slowly over time and you have to be willing to wait it out You have to be willing to wait it out. Um, this is it. I wanted I told you I was gonna be I gave you five good points Okay You can be a great trader you can be a great investor save your money get out of debt Invest in the stock market and don't forget to get some land or some property at a house get some get some property too so that you're So that your portfolio is diversify Hey, everybody that's doing these channels and putting out content. They do it because they really care At least I hope so. Let me give you a few people that I want to recommend. I Don't recommend a lot of people but on YouTube. I will recommend these three Number one as far as the stock market is concerned Jeremy with financial education Jeremy. That's his name Jeremy financial education YouTube him a lot of knowledge you can tell he's done a lot of research. I Do a lot of research myself, but that's not what kind of channel this is I just want to encourage people and give tidbits Every day I'll just come on and just give and give tidbits I'm doing it once a week right now, but eventually I want to get on on on on my channel every day And just giving people little tips hacks Investing hacks The next guy is meet Kevin Kevin meet Kevin is awesome. He ran for governor actually And I was I was like I was pulling for him even though I voted for Larry elder Because I'm sorry governor Newsom was doing he's still doing a very bad job Sorry He had less we got to be honest black or white no matter what color no matter what didn't no matter where you are from What side of the coin right left? It doesn't matter the man has done a bad job as governor here in our State all right, and then there's Graham Stevens. He's he's excellent too the latter two Me Kevin does deal with stocks a little bit, but I really believe that if you want them as far as the stock market is concerned specifically Jeremy with financial education is I think that one of the best out there. It's not the best He's very very good. All right, so I just want to tell you guys. I love you very much have a wonderful wonderful week Hey, let's keep checking on that market and hey short when you can go up when you can But the key is you cannot time the market. You don't know that you don't know when it's gonna go But be prepared make sure you leverage your risk if you're if you get if you're going long make sure Make sure you're covering yourself and I'm not saying shorting the market We'll talk about that one other day But I'm what I'm saying is make sure you manage your risk as well. We'll talk about that. All right. Have a great day I'm sorry you guys. I know I just be running my mouth, but I love you and I hope the best for you Have a wonderful wonderful week All right