 Welcome to Access a Trader, the number one community for those who are committed to taking control of their trading in order to achieve success, profitability, and longevity. Thank you for joining us. Here's Dan Shapiro to help you find your edge, master your process, and own your future. All right guys, good morning everybody. First and foremost, I want to thank everybody for coming. Okay, number one, number two, I'd like to thank Matt, Sam, Lisandro, Majae, and Larry for taking their time out of their Saturdays to kind of join us. You know, I get this email, I mean no joke, five, seven times a week, and they keep on asking me, you know, do pivots work with options, and the most amazing part, if you think about the stocks that we trade, they're literally, you know, the widest average two range vehicles you could possibly come across in the markets, and obviously, I would say right now the webinar is, I would say probably split 50-50, right, 50-50, maybe even 60, maybe even 60-40 on the options side, and you know, the one question that everybody keeps on asking me is, you know, how do I trade options based on, based on the pivots? Again, not in the room, obviously, but people in the Twitter feed, and my whole thing is I keep on saying this over and over again, like literally five, seven times a week, I don't know, I don't trade options, I trade equity, and their response is why don't you trade options? I go, I don't know, I just trade equity. So I never could answer these questions of how to trade these physical options. All I know is measured potential, okay, and if you think about, if you think about the theory of the PS60 theory is everything trades between channels, supply to supply, demand to demand. The only thing we're going to ask of you guys today, normally we ask people to put panelists and attendees, okay. If everybody could just click their channels to just panelists, please, okay. Yeah, if everybody could just put their chat box into just a panelist, because what's going to happen is, like, I'm going to see the questions, Matt's going to see the questions, everybody basically on the panel is going to see the questions, and there won't be any clutter, okay. So what happens is when we get to the Q&A session in a few minutes, okay, we're all the panelists are going to see your questions, okay, but only we're going to see the questions, and we're going to kind of rapid fire to the panelists, and they're going to basically give us their impressions of how they tackle, how they tackle everything in the options market. So just kind of a quick synopsis, especially for all you guys who are just going to especially for all you guys who are joining us via the Twitter feed. And first of all, welcome to some of you guys I know, some of you guys I don't. Nice to see my man, D-Train Chuchu. I will still never call you Chuchu, I'm a grown man. I don't call him other than Chuchu. Welcome some of you guys I know, some of you guys I'm seeing for the first time. Again, just a quick synopsis of what the PS60 theory is, because I know some of you guys have been trading this for eight years, and I know some of you guys have been trading this for eight days. The number one theory of the PS60 theory or process now is that stocks trade from supply to supply. I'm actually going to turn on my screen share. So I want to give you guys kind of a visual. All right. So the whole premise of the whole premise of pivots are stocks trade in channels. OK, the further the channels are from each other, the bigger potential or measure potential, as I like to say, is usually the best case in the area, the tighter the channels, the harder the trade will possibly be. And that's where a lot of people turn around in the markets. Like for example, yesterday for the first five hours of the day, five and a half hours of the day, all you saw was literally chop, right? When people commonly call chop, you know, stocks don't go higher, stocks don't go lower. And usually what happens in a chop cycle, and you can see based on the 60 minute channel. This is literally the 60 minute channel from yesterday until things finally woke up, right? So you're seeing this tight, tight, can't go anywhere, can't go anywhere, can't go anywhere. Every single time it hits supply, can't go anywhere. So the theory of trading is before you put on any trade, it doesn't make a difference what process you trade. The whole theory is, do you have enough room in the trade? So for example, I always say to myself or kind of when I'm in the webinar, I say, well, there's a trade there, you can probably get 50, 60 cents, is the trade worth it, right? Is the trade worth it? And again, the whole conversation between what's the difference between trading equity versus options, it's pretty clear. So for example, if you're trading equity and you have enough buying power and you can trade enough of Amazon, enough of Tesla, enough of all these stocks, you kind of know that every trade is on the table. So for example, if I said, wow, there's only a dollar in Netflix, all right, I'll take the trade, I have the flexibility. So if the trade stalls out and I go, there's only 50 cents, 60 cents, I get out of the trade, it's still profitable, or worst case scenario, it'll be a break-even trade. The problem is when you're trading options, and this is where a lot of you guys will definitely have a lot of great questions in here, when you're trading on the option side, you don't have that flexibility. So for example, if I'm taking a trade and I know it's only maybe a dollar in the trade and it stalls out, I could take 30, 40 cents, 50 cents, 60 cents, break-even, keep it moving, nothing's even going to affect me. The problem is if you're taking the same trade and you don't have the expanded measured potential, you're going to lose money because again, it's not like the bids are going to sit there, they're going to spread you down over and over and over again. So when you're trading on the option side, yes, you have a Max Payne, especially when you're buying covered calls, covered puts, you have Max Payne, you know your maximum potential if it happens, and again, if you're taking advantage of the leverage that options give you, but at the same time, you always want to put yourself in a position that if you are putting on a trade, you have enough measured potential that if it stalls out, you don't get spread down 30, 40, 50 cents. So there's obviously a lot of pros, there's a lot of cons, options via equity. Obviously, again, if you have the ability and you have good amount of buying power, and again, the word buying power is very, very subjective, but if you do have enough buying power, I always say, look, those trades that are iffy, right, those 50, 60, 70, 80 cent trades, then you have the luxury to put on. If you're an options trader, you can't turn around and say, you know what, I'm going to buy 50 of the Tesla blah, blah, blah, blah calls, but I only know there's only a dollar in the trade before it hits supply. So these are questions obviously that we are going to obviously tackle and a lot more, okay, in the panel. Again, once again, thank you very much for all you guys taking your time, especially Kenyon, Alex and Kyler who've been doing phenomenal job behind the scenes. They're the muscle, the brains, and all the technical goodness, what you guys see on the outflow on a day-to-day basis with the videos and all the stuff put together. I'm only the shrimp, literally pressing the buttons. And everybody else, thank you very much for taking your time. Lizandro, Larry, Matt, Maje, and Sam, thank you very much. Nice to finally see you guys. And what's going to happen is like I said, let me just kind of stop sharing here and everybody else will kind of get in. So what we're going to do is again, start, if you guys don't mind, please start putting in your questions into the chat box, okay. Please set only panelists, okay. We're going to do just a quick, we're going to just do a quick, we're just going to do a quick kind of getting to know your session so we can put the name tags on everybody's chest. And we'll go from there, okay guys. So let's leave it off. And again, guys, if you guys don't mind, again, fully guys have been in the live webinar, you know, I've been having this really, I don't know what the hell I did to myself. I built up earwax, I just can't hear. I can't hear. So when I'm speaking, it's really, really loud. And it's a very, very difficult time for me to kind of get my point across because I'm in pain. So Kenyon will kind of do rapid fire mode to switch it to every single guy on the panel. And, you know, let's kick it off. So Kenyon, if you can start doing the introductions, Matt and Sam and Lizondra, Majae and Larry, just give us a couple of minutes, kind of your dossier, your little bit of story, how long you've been trading all that side. And I'll sit back, start taking notes myself, and hopefully learn as much as everybody else because believe me, I am probably definitely 100%, 2,000%, the biggest novice in the room when it comes to options. So Kenyon, kick it away and we'll get things rolling. Awesome, thanks so much, Dan. I wanna celebrate, Dan. He gives so much every single day, Monday through Friday, and then even on the weekends, he takes his time to be able to create the weekend videos. And that's really what it's all about is Dan wants to give to everybody, not just in the room, on the Twitter feed, but also the new members coming in. And for me, this whole subject of options blows my mind because I've always traded equity. And I like a lot of people found Dan on chat with traders. And when I connected with Dan, it was all about equity for me and even the whole options world was just so out there. And so who is this particular webinar or recording for? Well, it's for the person that has never traded options and they just want at least a little bit of information. And it's also for the long-time options trader where you'll start to hear stuff where you go, okay, that makes sense. I understand how to transfer that into the PS60 process. So as a team, as Dan mentioned, Alex, Kyler, myself, and also Dan, we're really excited to share this entire message of options trading with the PS60 process with anybody that is very curious about it. And we have some of our most wonderful and successful traders that have been using the options process and are really driving this. This is the thing that where we move into this new area for the PS60 process and options, these are our leaders. These are the guys that have been doing really well. They've been having success. They understand how to do it. So I'm really excited to be able to have you guys ask the questions and have these guys answer because they are absolutely the experts. So let's get to know who they are. So first and foremost, let's go to Sam Cutler. Sam, just give us a minute or two on your background of trading and your options trading and fire away. Cool, hey guys, how you doing? Yeah, my name is Sam. I've been trading full-time for probably about five years now, three years by myself. And before that, I was working at a prop fund over in Amsterdam. And prior to that, I played professional golf on various tours around the world. And I started off mainly trading equity. And I still trade equity today, but with Dan's process I started dabbling in options probably within the past, I don't know, I'd say four months. And I found some pretty good success with that considering the moves these beta names make and the range that some of these options can put on. So I'm excited to talk to you guys about that today. Yeah, we'll take it away from there. Awesome, Sam, thank you. We're gonna move over to Matthew Whitaker. And Matthew, you've been in the, also let us know the timeline that you've been with Dan and with the PS60 process. Yeah, so, can everybody hear me first off? Yeah, we're good then. So I've been with Dan, I think right around the beginning of the year. I started, so my wife is a college basketball coach and so she was fired a few years back and I needed to find something to do. So I started, first I started with equity. You know, had a little bit of success doing that. Started dabbling in options. And I was probably like a lot of you guys who it was kind of a different language to me. So it took me a while to start figuring it out. Once I kind of got it figured out, now I'm a hundred percent options. I mean, that's all I do. So, you know, hopefully I can answer a few questions for you guys, but yeah. So Dan's PS60 system is kind of what I use when I determine entering and exiting positions. And then obviously off the potential move is what determines my size that I use. So yeah, that's awesome. Awesome, thanks Matt. And Lissandro. Hey everybody, my name is Lissandro. I've been trading for two years and I actually started with Dan and like I think my first four or five months of trading, I've found Dan with chat with traders. And then, you know, from there, I'm like, well, I'm gonna give this guy a shot, you know, as everybody does and I've been trading options the two years. I've never touched equity. The only equity I've ever had was like in a Robin Hood. I'm guilty on that, but other than that, yeah, I've recently found success not too long ago because for once I stopped being arrogant going against my rules and just following the rules, following the process and listening to what Dan is saying. And honestly, I've witnessed, you know, great success within the past two years. And I can't wait to share you guys how I trade options, so. Awesome, thank you Lissandro. And Larry. So I've been trading for approximately two years, a little over, been with Dan since last June, so almost a year. The first 15 months I was trading strictly equity, mainly small caps, I have a smaller account, still have a smaller account compared to some of the guys in this room. And I just wasn't really getting anywhere. I was doubling my account here and there, but it was going right back down. And when I jumped onto options, I steered away because, you know, the Greeks and all these terminology really scared me. But once you kind of get past that, I realized that I didn't have to swing positions anymore that I could scalp via options in the PS60 theory in these high beta stocks. And once I start limiting the stocks that I was trading with, the five, pretty much five stocks, that's all I trade. And I scalp via options, short-term options. And I found great success. I've only been trading options since September, but since then I'm up like 700, 800% my account and getting more and more consistent almost every day. That's phenomenal. And Maché. Yes, hello everyone. Nice to meet you. My name is Maché. I started trading in early 2018, I believe. I had some success at trading stocks, but I got a little bit destroyed in December, 2018. So I figured out that I'm lacking a lot of knowledge and I started looking around for some help online courses and people who have more experience than I have. So on Twitter, someone recommended me a list of, I don't remember exactly five or six traders that don't talk bullshit basically. And they always say how it is. So I started watching those guys and like a week or two weeks later, Dan was on the list of course, a week or two weeks later, you guys had a promotion, like a 50% off on gold members, gold membership trial. So I decided to give it a shot. I watched the course, the explanation of the process. I joined the live webinar and I realized that I know nothing basically. I didn't even know what the support and resistance was. So a lot of black magic, but slowly, but surely I started learning and asking questions and trying different things and things are definitely much better. I'm still learning every week, every day. And yes, so I'm happy to be here and I will do my best to answer all those questions. Awesome. Thank you, Mashe. So this is pretty awesome. We've got a wide range on the panel today and as people are here, you'll be able to see and certain people you'll resonate with. You'll say, that's the type of person or that's the level I'm at and you'll just be able to have an understanding of where you're at within your options journey. And really, we know that trading is an infinite game and yes, Mashe said that he's always learning. We're all learning, even Dan is always learning. And so I wanna go to Sam. I wanna ask you the question we get all the time. Dan gets it, we get it in the support, which is like, is the PS60 process, the system that Dan came up with, is it good for options? And really, I just like, when you even thought about it coming in, like answer it for you because, you know, how did it work? You know, you asked the same question. Yeah, so the reason I turned to options was I still trade equity with the beta names, but when also it's a kind of a mental psychological thing when you're looking at the amount of buying power you're using to buy a thousand shares of Tesla, a thousand shares of Netflix or whatever, it's quite a sufficient amount. So when you turn it over to the option side and you can use about a 10th of that capital and get almost even more buying power and leverage on that and with the volatility in these options and how the premiums increase in that short period of time because these pivots are such special levels where you get that cash flow instantly, I really noticed a tremendous value in those. So I started dabbling with them just small size and then I realized that it was a very profitable strategy to incorporate PS60 into the options. So we kind of took it from there and we've been doing that for four months and it's been quite successful, you know, some setbacks here and there, but a lot of the setbacks come from veering away from the process. And that's what the one thing with options that makes it a little trickier for me personally is being able to control my risk on them because like Dan said earlier, when the pivots don't go and they only go up 60, 70 cents a dollar and then completely die out, the premium on these options get destroyed on some of them. So I've been really experimenting with taking some of the strikes that are right at the money. And I also take some that are further out for that measured potential move to try to help control the risk a little bit. The ones that I'm obviously using that are on the money, they kind of trade more in tandem with the underlying stock because the deltas are a little higher. So on those, you usually see like a 60, 70 Delta, which is nice because then you're gonna get a 60, 70 cent move for every dollar that the underlying increases and they also fade back that way a little bit. So it's a little easier to control the risk on those in the money options. And I've noticed the spread gets a little tighter on those as well. So yeah, if any questions on that or we can move along. Yeah, sure, that's a phenomenal question. And I'll be able to build on those through the different panelists that are here. So Lizandro, I wanna move over to you. Lizandro, for you, because I know that Sam came in with a bit more experience in that background. And for you, you were building up, when you started doing options with Dan, was that the very first time you did options? And then how did you basically learn? Like where did you start? Like, okay, what is a strike? What does it put? Now all the things there. So pretty much, honestly, it wasn't with Dan. You guys are gonna laugh. My first option was, I think it was an earnings bet on Cisco. And then I realized, wow, that's a lot of potential that the Cisco actually worked out by the way, that's why. But honestly, I was starting to learn options like I would go on like invest the PD, like all this stuff. I was just trying to figure out like, what's a put? What's a call? Because I honestly have no idea how to trade equity, but like I slowly started learning that. And then I realized, oh, so if a stock goes up for example, then a call is gonna be worth a lot more money. I'm keeping it as simple as possible. And vice versa with the put. And so I think when I started trading with Dan, that's when I started realizing like, like these pivots give these options like a surge because of the amount of volume that's being pushed up towards like the metric potential. And so that's when I started real, like that's when I just said, well, why not just trade pivots with options? I think this is the easiest thing. Turns out, if you follow the rules, yes. If you follow the process, yes. But if you go against it and you enter way too early, like Sam said, if it doesn't go, your losses are magnified. And I think that's something that I know a lot of guys in the room can agree with me on. Like let's say for example, well, like I think it was the pivot was 835, I wanna say, right Dan? Yeah, yeah. Okay. That was the big one. If you enter way before that and it goes the opposite way, you can kiss your money goodbye. That's just the reality. And so I think it was like around last month, last month I wanna say that's when, you know, my account started blowing up like really, really well. I just said, look, I can keep on doing the same crap I'm doing before, which is going before the pivot sometimes, cause I would anticipate a lot. I would send Dan texts all the time. Like I kind of anticipated, I think I anticipated. And I said, okay, stop. Just wait for the pivot to confirm, wait for the second entry and then enter. And that's what I've been doing. And it's been working phenomenal. Like honestly, like I've only had like yesterday was red day. I did a rejection. It was poor money management. But I've only had two red days in like literally the past two months. And that's because I've been listening to him and you know, following the rules. Absolutely. And I wanna build on that. That following the rules is the number one thing when transferring the PS60 process, whether you're trading equity or you're trading options really what it comes down to is following the rules that Dan puts in place day in and day out. It's not just something that Dan recorded once and you have to learn the rules and Dan never mentions it again. One of the great things about the daily live webinar is Dan repeating the things that we need to know on a regular basis so that we don't fall into those holes and have things go against us or our counts go down. I always say to a lot of people, the number one thing that Dan does is he helps us protect our capital. And then we can use the vehicle, whether it's options or whether it's the equity to build our capital but Dan helps us protect it because we have to follow and that's what Lissandro was saying is by not going in early, because Dan says don't go in early, Lissandro saying hey, I want to, I want to, I want to because it's a natural thing. Like if it's gonna go there and so those are the cool things. So Matt, I wanna go over to you now because I understand that you started with a smaller account and a lot of times we get asked those questions like hey, is the PS60 process good for smaller accounts and what are the possibilities of growing it? And then of course I know that a lot of people based on what Sam was saying, a lot of people saying hey, I can build my account because I have more leverage with options. So maybe that seems like oh, that's a great idea, smaller account options. I don't know what was it for you, Matt? Yeah, well, my account size was pretty decent but at the beginning of this year, what I did is I moved $10,000 into a separate account and I just tried to build off of that and that's all I, and that's still, that's the only account that I've traded all year long. And so the reason I did it is because it kind of makes you think about not going in early, like people have talked about and really just having a good strategy on you're entering and exiting positions with the small account, you can't afford to take a big loss. So that's kind of the reason I did that. I was finding myself in my other account just over positioning at times, going in early, just not being very disciplined. So that was at the beginning of the year, I said, you know what, I'm going to take $10,000 and I'm gonna see what I can do with this and I know with that $10,000, I'm gonna have to be extremely strategic, I'm gonna have to position well and I'm gonna have to take profits. So, and that's the account I've still been, I'm still in, I'm using and it's grown. I would have never thought I could have grown it the way I've grown it. And options was your vehicle? Yeah, yeah, 100% options. And even before I met Dan, like the PS60 system, I mean, obviously not exactly as I wasn't trading exactly the way Dan does, but my theories were pretty close to the PS60 system. So when I found Dan, it was pretty natural for me to incorporate some of the stuff that Dan uses into what I do. Okay, so Matt, and I want the other panelists I want you guys to also help out. So some of the, if you guys can scroll through the chat and find a particular question that you're like, ooh, I really resonate with that question. I would love to answer that question. And when I come back to you. I think that's a great segue because Matt was starting to talk about specifically trading a small account. Because I know that there's a bunch of people who actually ask that question. Can Matt, can you go into a little bit more detail about how you physically started building that small account? Obviously your account has grown exponentially, but can you give the guys kind of an idea of position sizing, right? Position sizing, max pain, especially on a smaller account, compared to obviously now that you have a bigger account as well. So my theory is, no matter what size the account is, I'm never, well, I'm not, 90% of the time I'm never over 20% in options at any given time, and then 10% in any one name. Now, when the market's exploding one way or the other, I go up to 30% and 15% in one given name. And the way I determine all my sizing is, I mean, it's pretty simple. It's just the measured potential. If there's a, if there's a, you know, if there's like in Tesla, this 835 is an extremely, you know, big level. So I'm going to go in with bigger size. At that level, as opposed to earlier in the day, you know, there really wasn't much for option guys until it started creeping into the 835 area. And I opened up a little bit of a, you know, of a next week's option, right at close, then I'll see what happens Monday, if I want to add to that. And a lot of times I'll have a couple of different strikes, you know, like for next week on, on Tesla have the 850 option for next week. And then depending on what it does, I'll probably open up something like a 900 for the following week. And then that 850 will be the one I start closing out of, and then I'll concentrate more on the following weeks. Awesome, awesome. Thanks Matt. Larry, I want to ask you, cause it's a common question we're seeing through the chat, which is, you know, walk us through the basic, like, okay, what is the basic options trade? You're listening to Dan, and then you see this, and then you execute this way, that type of thing. So I'll just walk you through my morning. Maybe that'd be easier. When I come in, I'm looking at what Dan's like. I'm looking at the equity side of things. Where are these options? Where the pivot's going to confirm that. I then look at the previous day's option chain. And I'm usually trying to find near the money or at the money calls or puts, but I'm mainly focusing on volume of the previous day. And cause you want to be able to get in and out of these things. Like you said, if this doesn't work, these things, the time decay can really kill the value of these things. So I try to find maybe not so much on Tesla and Amazon since the premiums are so high. I will go, I mean, sometimes on Amazon, $100 out of money, but most of the times I'm trying to stay right at the money on even numbers cause that use of people, these even numbers, even in equity, they are a big deal to people. So I try to stay with all the volume. I will pre-fill out my orders so that way I can execute very quickly. And I'll just put like a value of a penny in for 20 contracts say of Amazon. And then whenever it's getting close to confirming on the equity side, I'll change it. And I'll usually execute either a, I know this is bad and Dan's probably gonna scold me, but sometimes I execute via market orders. A lot of times, a lot of times limit orders right about 30 to 50 cents above the ask. The only reason being I still fight FOMO. So if I miss one of these trades, then my day usually will go down big time. But if these things, and I do the market orders only on when there's huge potential like in an Amazon or a Tesla, but I do not do that in the first five to 10 minutes of the day, the first five to 10 minutes of the day, these options have not had their price discovery because that's when they start up for the day, they stop at four o'clock. So the overnight pre-market and after market, these options haven't had time to get the actual price of what they're worth. So the first five to 10 minutes is very, very tricky, very scary. You can lose a lot of money very quickly because even if you're right in the direction, if these things stall out for a second, that first five to 10 minutes, they're gonna lose value tremendously, so. Yeah, and there's a question here, Larry, that says that I hate using market orders, but it's hard to use limits since you have to know the contract price at the equities pivots, which changes over time. Do you guys calculate limit orders or use market orders? And of course, Dan already, you can feel, Dan's getting stressed about the fact that we're no market orders, you know? So yeah, thoughts on that? I've been moving more towards limit orders and just putting my price in about 30 to 50 cents above where they ask us. That's the best way of doing it. And that way, I'm not getting some really crazy, then pulling all the offers off and me getting hit with a crazy price and me down 1,000 for me and do anything about it. But the market, I would not recommend it. Sometimes it helps my FOMO. That way, I can wait for the pivot because again, the time decay in these things can really hurt. I'm using short term. Usually this week or next week's options is what I'm trading. Dan, I'm gonna give you two minutes just to talk about the market versus limit and what you've seen. Yeah, and that's one of the scariest things for me. Again, especially when you guys see, especially when I'm trading Netflix of most things, as everybody knows, like a stock like Netflix lost its liquidity like three months ago. Nobody has an idea of what happened to it. So when you're trading a stock that has the potential to give you three, four, five dollars on the candle, but at the same time, if you're wrong, they're gonna spread you out, you're gonna die. The idea of limit orders versus the idea of the fear of missing out, common sense, at least for me, common sense needs to really be appreciated because the last thing you wanna do is market order a stock that has a reload seller. The spread winds down and now not only are you in a terrible execution, but they're gonna spread you on a dollar, dollar 52 dollars in seconds. So I could only imagine what you guys are going through via the options market because if a stock is running, and again, like for example, when you get a big macro area, there was a difference in entry, for example, that 818 pivot that I took on Friday for that cash flow to 820 on Tesla versus 835, which was a month consolidation. So I could see somebody being a lot more reserved and saying, you know what, let me limit Tesla 818 versus, oh my God, this thing's about to break out out of a one month cycle. Let me get in the stock in a market order, but always keep this in mind, 835 as big as the number was on Tesla, right? The trade has measured potential to 850, 860, right? 890, if it really, really stretches out. So you're not gonna miss 30 points because you get in a dollar higher, okay? So always, you always wanna make sure that you're always thinking logically. Yes, 835 is an important number, but if you're trading options and you're going for the next weeks, right? Next week's weeklies or even a month out, what's the difference if you're entering the trade at 836, 837, 838? If you're going for the 860s, the 890s, the 920 calls and the stock keeps on accelerating, you believe the theory that stocks trade from supply to supply and demand to demand. So we know, going into next week, that 860 is measured potential, right? We know that because there's nothing left on the chart from 835 to 860. So if you're trading on the option side, why are you gonna market order of stock knowing that it has to build anyway? It has to build and confirm the longer the base, the longer the distribution above 835, the higher probability it's gonna reach 860. So the idea that you are following an entry, especially on the option side, knowing that the spreads are gonna be wider, it just doesn't make sense. Cause like I told Lissandra all the time, like I say this all the time, like if you know the pivot is 835, right? Again, what's the difference if you're along the stock at 837, right? What's the difference within the $2? How big of a premium do you think you're gonna be giving up in those $2 knowing that your options is still $25, $30 out of the money, right? And that's kind of what you have to kind of take a step back and say to yourself, I really don't need to enter here, right? I could wait an extra dollar, I could wait an extra $2. I can see the stock even moving up $5 coming back in and remounting on the rising 60 minutes support and I could still get into the same trade, right? At the same price without the fear of missing out, without a crazy execution. And oh by the way, stocks do have reload sellers, especially all of us who in the live webinar, we do know we could spot that reload seller very, very quickly. So if you're going on a market order, right? Market order and the spreads are already ridiculously wide on the options because these premiums are so juiced, not only are you running the risk of getting hit with a reload seller, but they're gonna spread your ass down over and over and over again. So always say to yourself, it's not worth it, right? Let it trigger, let it confirm, let the second entry play out. You have time. The one thing that you have the luxury, you are betting on time, right? We're betting on execution. If you're trading on the equity side, every dollar for me is very, very important. Every 50 cents is very, very important. So where I'm scaling out or potentially just, you know, taking a thirds off, a quarter off, no matter how big it is, it's very, very important for me for execution. You guys have the luxury because you're going out of the money, right? You're going out of the money and you're going to the measured potential trade. You absolutely have the luxury, okay, of waiting to see a bigger, stronger build. So the idea of FOMO versus measured potential, in my opinion, is just irresponsible, okay? It really is, it's an incredibly irresponsible, emotional act. Even if you're not long, and I know a lot of you guys are long Tesla overnight, I get it, believe me, I've gotten email after email. It's 16 next week, yeah. Yeah, that's the plan, right? That's the plan. Elon Musk can commit double murder over the weekend and the stock goes down 20 points. But unless that doesn't happen, yes, the stock should go to 860. But the most important part is again, when you are betting on time, because that's what you are, you're betting on time and price action, you have at least the luxury to let the stock build up organically instead of rushing to the trade. That's again, one of the biggest advantages that you have on the option side, trading measured potential. Dan, that's pretty phenomenal. And I want to make a note here for anybody who's watching this now, who's just in the Twitter feed, or maybe you're watching the recording, that's a great example of what happens when somebody asks a question within the daily live webinar. And then Dan, especially like midday when things are trading slower and Dan has more times, I love these particular rants or trainings or just 15 minutes of nuggets. Dan's so good at that about answering stuff no matter at what level. And that's why a lot of these traders, options or equity are having such success is because Dan is always training every single day, not just like, hey, here's a trade, get in, get out. That's not what this is about. It's about helping all traders learn and grow as traders to get to that level. So, Mashe, I want to go over to you, what are some of the common stocks? We know Dan loves the beta stocks and that type of thing and there are mid caps and small caps. But what do you trade for options? What are your two or three most common names that you're trading on a regular basis? I like Netflix very much. I like Tesla. I like however I'm scared sometimes of Tesla. It's a wild animal. I pretty much like all of those beta names that we trade day to day. But I also trade some swings with Monty options. I use the same more or less methodology. And for that, I use many different stocks. Like on Friday, I bought some calls for June expiration for Target, right? It's past earnings. It has a nice looking chart. There was a daily breakout. So I also started doing those swings some time ago. And for swings, I use a different account. I use pretty much the same approach as Matt. I transferred 5,000 some time ago into day trading scalping account. And I use the same methodology more or less as Matthew. So I don't risk too much, but I adjusted that strategy. And whenever I go over, let's say 7,000, I build some profits during the week. And I transfer back that money to my regular bank account. It's my second income. So I never go crazy. I notice when I had some profits, I tend to bet a little bit more, take more risk. And usually it wasn't a good idea. So I'm working on that. And that's my way of keeping myself in check. So I keep that account small. And I never risk too much. Plus whenever I put any trade in options, as everyone knows, sometimes it may go to zero very quickly. I kind of always expect that position to go to zero, especially in this environment and previously during the trade war when we were getting those tweets. So I'm really careful about the position sizing and probably I wouldn't take Tesla overnight into the next week. Cause for me it would be just too big of a hit, right? But by applying that strategy and minimizing that risk, I let, sometimes I let my position right. And let's say if on Monday I place a trade and sometimes it goes against me, I let that little position to stay in my account and let it ride till Friday. So instead of like having 50% stop, my position is let's say cut in half, much smaller. And then my stop is 100%, which is in terms of money is the same amount, right? But I'm less stressed and sometimes it turns into great trade when it stays in this way. Awesome, thank you much. I just got a quick follow up question cause I've always wondered about this. The way I train, you guys know especially on liquidity side, I try to get as much liquidity, especially at whole numbers, because the whole point of the pinnets are, again, we found an arbitrage that we kind of know where the volume, the algorithms will kick in. That's why a lot of these trades, you could get $2, $3 and 45 seconds. But I've always wanted to know it. I saw somebody just asked this as well. How do you guys physically enter the trade? Do you guys scale in? Do you guys ever average down? Cause for me, I try to get as much liquidity on one shot and hopefully get that surge, 30, 40 seconds later. But anybody on the panel, Matt, Larry, anybody? How do you guys physically enter the trade? Do you guys scale in and what are your thoughts about averaging down? Or is that a big no-no? I averaged down once and I lost 10,000. There you go, that's the answer. And I will never do it again. It was a long, long time ago and I will never do it again, never. There you go, that's the answer. If I have risk, when I have risk defined, let's say it's 1,000, it's my maximum. I expect that it can go to zero, like I don't know. There's a tweet from Trump about China and I'm in Baba, right? Right. I would never average down, never. Anybody else, Larry? Matt? Pretty much, I pretty much trade the options just like Dan trades the equity. So I'm pretty much all in at the pivot, you know, the second confirmation and I'm scaling out immediately. As soon as I get in, I'm not even looking at that point, I switch over to the price of the options and I'm putting sale orders. The only thing I do differently, Dan scales out using thirds or fourths. I scale out like tenths, but I put my prices right above where I bought at. So I'm scaling out in smaller orders but I'm not allowing it to go. I'm trying to take risk off. The main thing is taking risk off immediately because these things can, they don't have to go $5. They can go $1 and turn around. Matt, how do you do it? Yeah, so I don't average down either. Never have, probably never will. And you know, it's a little bit of a tough question on scaling out because it just depends on the measured move. Almost always. And talk about that for a minute because the measured potential seems to be some of your huge success. You're always asking, what is the measured potential? Right, yeah, so as an options person, you've got to have a pretty good measured potential, especially when you're trading a Tesla, Amazon, some of these with high premiums. You can't take the $2 move, you're going to need a, I wouldn't get in one with less than a $5 potential. And then I would do size, this 835, I'll do size because it's got a lot of upside. Now, I will start scaling out and I really watched the futures when I'm in a position, like we all know, most of these names are not going to go against the futures. So if the futures start going against me, I'm probably going to start scaling out. Even if Tesla's still rising, I'm going to start scaling out. I'm going to scale out enough to where I'm comfortable if the futures did just take a total dump, I would be okay if Tesla did the same thing. So I think you got to really watch the futures when you're in a position, especially in today's market. And it's probably smart to start scaling out when futures are going against you and your stock is still doing what you want it to do. Awesome, awesome. And I'm just going to build on this a quick question from John and then I'm going to go to Lissandro then Sam. So Matt, can you repeat your money management rules again? Do you have a couple of rules that you use for money management? Yeah, so you're speaking of the one I talked about earlier. Yeah, so my role is whatever size your account is, 20% in options, which that's all I trade. So just 20% is at risk, is my max risk. And then 10% of that account is my max risk on any given name. So if I have multiple layers of Tesla, it's not going to be over 10% of my overall account. Now, when the market is really aggressive one way or the other, I do occasionally go up to 30% overall and then 15% in any given name. But that's the role and I've had a lot of success with that and that's something that I will probably never change. Awesome, thank you. Vissandro, anything you want to add to the current discussion? I mean, there is like a bunch of things going on. Go to Sam real quick and I'll come back to me. Okay, okay, cool. Sam, a lot of times we're in the room in the daily live webinar and then Dan will just shout out like, wait a minute, B.A. There's a bounce coming up on B.A. Boeing. There's a bounce, there's a bounce coming. And then how would you then handle a bounce with options? Which is, it's not a pivot, it's a bounce. What do you do? Yeah, these are actually one of my favorite plays with a bounce plays via options. And I just want to pre-assist by saying, I'm like Larry in that sense. I'm pretty much strict. I'm pretty much only trade intraday and I'm scaling out right away. I get in right away with my full size. I never average down. The other times I have, I've lost terribly. So that's one of my main rules. If it's not going, I kick it out immediately. I enter my positions via limits, but I'll often, if there's not enough liquidity on the offer, I'll often spray it up to maybe a max of 30, 40 cents. I'll just limit 34 cents higher and take the offers up to there. But then I'm immediately offering out parts of my positions up 50 cents up a dollar. I'm staying in the book because we know sometimes these options, you get those crazy moves really fast. And if you're not quick enough on the keys, you're gonna miss your fill. I've had a few times where I've gone up pretty big in a position. And a minute later, boom, I'm red on it and I'm getting kicked out of my position. But now to go to the bounces. These are one of my favorite plays because as you know, there's nothing better than buying an option on weakness because that premium is getting destroyed. So for example, on Friday, this is a unicorn trade, but with that Tesla, you know, it came down on that, it started selling off on the Trump talks and the rise in five day was at 817. We actually broke down to 814, but then we reclaimed that five day fairly quick and we started building above it. So I started looking at some 120 and 130 calls and started taking a position on those. And the minute Tesla, as you all know, saw it start running, the premium on these exploded quite a bit and they all ended up going into the money. But you can do that with pretty much any of these beta names, but I really like to see them break through that rise in support and then reclaim that because then you have to find risk. And I don't use hard stops on options because of the volatility in the spread sometimes, they can stop you out and then go again in your face. So my thing is I pretty much focus on the underlying stock to tell whether it's dying out or not. Like as we've seen so many times, the pivot will confirm it'll get up, but you can see it struggling. If I see it struggling, I just kick my options out. Because if it later then goes to confirm, I can re-enter. And the biggest thing on that is I've learned from experience. I've been burned a lot of times on that. Like Lizandro said earlier, you're trying to anticipate a trade or you get anything. Never. Never anticipate. Never, never anticipate. Never. I've sent too many text messages about that. Yeah. To be honest. To be transparent the past two months, I've made a few mistakes. I've anticipated quite a few trades and had a pretty rough two months and just starting to get back to following my rules that I've set forth for myself. Well, and that's again, going back to what Dan says every single day in the daily live webinar, which is follow the rules. It doesn't matter whether it's equities or options. Follow the rules, follow the rules, follow the rules, follow the system and you'll have success. And so, this is a question Dan gets every single day or at least, and we also get it in the support. People coming in, they wanna know or in Twitter and those types of things, which is like, how do you handle stops? Stop losses in options and anybody can answer that just like, how do you handle stops? For me, I don't put a hard stop. I look at the underlying and you know, I don't get caught up in the dollars and cents because that'll kill you on, you know, whether you're trading equity, whether you're trading options, if you're trading your P&L, you're not gonna do well because the minute you get green, you're gonna start taking some off. The minute you go red, you're gonna get scared. So, I don't even focus on P&L if the stock's not going and it's not building. I'm out, I just, I start dumping. I start hitting bids and getting out of the stock. Very similar to when Dan says, hey, there's a reload seller, get out, gotta get out. Exactly, yeah, like Dan said, if there's a reload seller on one of those stocks, you see Tesla, Netflix, Amazon, these things drop dollars in a beat and what that does to premium, you know, you'll see options go from, you know, three, five bucks to, you know, a dollar, 70 cents real fast. Especially weeklies, like I only trade weeklies. Okay, so Larry, what about when Dan says, all right, I'm in Tesla, I'm gonna give it $2. I'm gonna give it $2, it doesn't look like it's going, I'm gonna give it $2. Okay, you're in the trade in an option. What do you do? The hard thing with options and a lot of guys that Dan has set me up with in the room that I talked to, they asked about the stops. I haven't found a way to put a hard stop in that makes sense because like what Sam was saying, sometimes they'll come right back on you because of volatility in these options. To me, personally, I don't think there's a break even trade in an option trade. It's gonna work or it's not. And I use the equity side to know when to get out. So I may give it a dollar in the equity and when it hits that, I'm getting out of my position on the option side. That's kind of just what I've came to realize. I wanted to point out one thing too. If anybody in here is fighting the PDT, I think the options route is probably the best way. The two things you can do today that helped me the most is switch out of the margin account into a cash account and get into options trading via high betas, a couple of reasons. If you're under a cash account, you're not under the PDT. And the bad thing about a cash account, you have to wait for your money to come back into your account. But options, they come back in the next morning. Usually I think every brokerage firm does that. I know mine does. Where if you're in a stock, three days, wait time. So that'd be my, that's why I throw that in there as well. Phenomenal information. I'd like to add for risk control. I do it a lot with options, just like I would equity, which is something that Dan has stressed to me before is using that five minute previous low as an L. And I find that works quite well in options as well. Cause it, you won't get destroyed in premium and it'll still give you a pretty safe exit. That's a point. 100% agree. I expect you on leaving runners. Like that's the only time, only time I'll use a hard stop is if I've done well in a position. And I'm holding a couple of contracts as a runner. Then I'll usually set my stop at my entry price on the contracts, but then I will still trail it up using the five minute, but that's not a hard stop in place. That's more just watching the five minute chart. And if it starts taking out the previous five minute low, I'm just going to get out of my runners. And Matt, you wanted to build on that? Yeah. So, I mean, very similar to what Larry said. I don't say it a hard stock, you know? I do set my limit orders on, you know, if the thing explodes where I want to get out and what price I want to get out on, but I don't set a hard stop. I'm watching it, things start going against me. Like Dan is stressed, you can always re-enter the trade. So, you know, a lot of times I'll just clear my position and I'll wait, set it out. And if it reconfirms, I might, you know, get back in, but I don't set a hard stop. I think just one important point, and it doesn't make a difference if you're trading options or you're trading stock, you have to have the reserve, okay? And we really stress this, okay? Especially, look, when the market is incredibly aggressive and everything averaged through range is going nuts. And there's a, you know, when you see, for example, when I'm putting on the Twitter feed in the morning and we talk about at morning strategy, when there's $10 potential in Tesla and $15 potential in Netflix and $60 potential on Amazon, you know you're an aggressive market, okay? You know you can take bigger size. You know you can, you have the wind at your back. You have the sentiment in your back. And then you have days, like for example, that we saw yesterday prior to the whole NASDAQ explosion, actually the market explosion towards the end of the day. You have to be an adult to know that, look, if there's a $2 range, you can't put on the trade. If you're trading options, you can not put on the trade. Again, if I wanna make some money, like for example, at $818 pivot on Tesla, we knew the first move possibly could have gone to $821, it was supply. We knew there was only $2, $3 in the trade. I took, once they couldn't crack that $820, I took another piece off a little less than $2. But my point is, you have to be an adult knowing that if you're trading options, number one, you're fighting time, you understand that price action is not entitled to you. So you have to wait for it. So the idea that you're going to put on an options trade, especially knowing that you are fighting time, you are fighting wider spreads, if the stock doesn't go, if there's still a distribution cycle, there's a lot of supply ahead, you have to be an adult about it and say, I'm not gonna take that trade with a dollar potential, with a $2 potential, so it's strictly for the option guys, so the equity guys is different. So you have to be an adult and say to yourself, I'm gonna wait till Moses parks the Red Sea, whatever the hell the C part, right? And wait for that big measure potential. So for example, if you didn't take the 818 pivot initially on Tesla, you probably did the right thing if you're trading on the option side. If you didn't take the 835 pivot, that's a whole different conversation. That's when you should start getting aggressive. So there's a time to be very, very passive and there's a time to be very, very aggressive. And I say this all the time, you could be sitting in the most expensive Bugatti, okay, two, three million dollars. But if you're stuck in midtown Manhattan, rush hour traffic, you're not going anywhere. So you have to learn how to treat your vehicle, your trading account, aggressive, passive. Learn to step on the gas and learn not to step on the gas. These are very, very crucial areas. And I say this, and I've been saying this a lot, it's the trades that you don't take, especially on the option sides, because you guys know how the spreads are gonna start going against you. They're gonna start taking down the bids. They're gonna start making the offers wider. The key is to make sure you're putting on a trade that actually has measured potential. It's not just putting on a trade. There's no point of putting on a Tesla trade if there's a dollar and a half spread, right? If there's a $35 spread, you might have to sit out the whole week to wait for that confirmation channel at the start. So there's definitely a way to maximize your ability, even if you have a smaller account, you always wanna take the trades with the highest probability. And some of those trades you really have to wait for, because if they're not there, you can't force Tesla to go. It's gonna go into a clear out supply. We say this all the time. It's the little things that you do that don't show up in the box score. They just don't. It's like the little thing, sitting it out, asking yourself, is the trade worth it? Putting yourself in a position that, you know what, I might not take the trade today, and it's gonna save my mental equity. It's not gonna burn any mental equity, but I finally know when that macro level gets confirmed, right, that's when I push the trade with extreme prejudice and extreme confidence. Well, and that's one thing I'd like to add too, is we all know in the options world too, patience pays hugely. And if we can catch, I'm gonna go out and say, if you catch one or two really good option trades on these beta names, like you made your week in one or two trades, you know? That's when I really think patience pays, and you just sit around, wait for these big measured potential moves, but then also to Dan's point, you also have to know those are the trades you have to go in a little more aggressively in size a little better. Absolutely. One thing that I found has really helped my consistency. I used to be a little degenerate, you know? I'd take any trade. I wrote who's got 25 cents, boom, let's try to get it. Yeah, it's just like a win. It just doesn't work. It's too much mental equity you're draining. It's too tiring. So, you know, it costs a few months. My best example, like on Friday, there was a trade on Roku, and I knew there wasn't any, I knew there wasn't gonna be any side. I knew there wasn't gonna be any side. So I took the trade, and it spiked up, what, 40 cents in what, three seconds? And I couldn't even get out fast enough because it got rejected into supply. So you could afford to take that trade on the equity side, and you know, I made a cup of coffee, break even on it. But my point is you could afford to do that on the equity side, but you can't do that on the option side. You'll get murdered. You'll get destroyed right away. So you really have to pick your shop, it just spots and really be patient for the bigger measure potential. Awesome, and I wanna go over to Lissandro to build on that, and then over to you, Machae for a different question. Lissandro, build on that. Yeah man, patience is honestly patience is key, especially with options, especially with discipline. I think a lot of people, what's it called, they don't realize that, because for me, what I used to do, and I'm pretty sure a lot of the guys, you know, as Dan says, you're making a bet. Okay, you're making a bet. But at the same time, are you taking it during the pivot? Are you taking it prior? Because if you take it prior to the pivot, as we said before, you're gonna get cream, because what's happening is that they're gonna, they're starting to price the options way, way lower than what you originally bought. So it's like, what's the point, you know? I mean, I'm trying to think, trying to remember what I was gonna say. Just go back, go to someone else. I'll come back to it. Roger, you're awesome. Hey, so... Maché, so, you know, for you, I wanna ask you this question. This was the question that Sean had written in. Are you taking your full position? Like Dan, again, talks a lot about second entries. And so we know that there's less risk at the second entry. Are you taking your full position at the second entry, or, you know, or something else? It really depends on different, on few factors, right? Like overall market conditions, and also if there's any catalyst behind the trade, right? Like overall, the second entry, for me, it was a game changer, right? I always thought at the beginning that we want those stops to be triggered, and this is what we are looking for, right? When Dan explained that second entry to me, this is what we don't want to do, because we can always, if the stops are triggered, right? The price can reverse quickly, right? So we want that second wave. So for me, realizing that the second entry is what we are looking for, that was a game changer, right? But what was your question one more time? Well, just wondering if, how big your position size is at 100% over. So as I said, it depends on few factors. Let's say there's a catalyst behind the trade, right? Like a stock was upgraded or downgraded. There is, let's say now there is a vaccine that was discovered, right? The states are reopening, there's no second wave. So, and there is, let's say there's the level that we are entering, it's a macro level. It's a weekly breakout or daily breakout. So if there are those factors, I would go a little bit more than my, a little bit bigger than my usual position, right? So to maximize those potentially big trades, I would add a little bit more than my regular size, but let's say if we take example of ROKU that there's not enough measure potential, the market is weak, we are awaiting press conference. Probably I would take really, really small size or not take the trade at all, right? Because it's hard mentally to maintain those trades. Plus, if you are in a trade like that, you know, there may be some other trade somewhere else and then you are just wasting your effort and your mental capital on those weak trades and you can miss the biggest one, right? So I would look for some different factors as well. And to add to it, I like what Matt said and I always use it. I look for correlation to indices, especially S&P 500. I don't often use Qs because there are like a decimal points and you don't often see the bigger move, right? With S&P, let's say now we are around 3000. So if there is 50 points move, right? And market is going clearly into one direction. It will push my trade, right? So this is another factor that I consider like a correlation with indices, right? And there is not sure, guys, if you notice that, I often watch premium price and sometimes there is no correlation at all with between option price, how it's moving and the stock price, right? So a few weeks ago, this is what I remember. There was a B8 trade on short side and the stock dropped three points in like a 20 minutes but the puts didn't move at all, right? They should move. It means that the people are getting out, right? There is no demand for those puts, right? They are selling those puts and probably that trade won't work, right? So this is another factor that I always look, right? And sometimes it happens, let's say on Amazon, right? That suddenly out of nothing, the stock is flat or moving one, two, three points up, which for Amazon is nothing, right? But on those little moves called premiums are gaining 10, 15, 20%. So it gives me conviction that that trade will work, right? Because there is a demand for those calls and probably it will push Amazon a little bit higher as well. So this is what I use in addition to like a regular supply and demand levels and other things that we use. Awesome. Thank you, Mr. Shea. Dan, I wanna talk about the process and then of course it goes from you to the panelists or anybody trading options. So we're in the room, we're in the daily live webinar and Dan, all of a sudden I hear you say, hey, for you options guys, and then you're giving information. So let's talk about how that starts, what you see and then how the options guys take that information and make a successful trade. So Dan, give that example. Let me do that. So let me just share my screen, let me just share my screen really quickly. All right, so usually when I'm talking about the option guys and gals, right? I usually base it on a daily chart. So for example, not every single pivot is made the same. Obviously we all know that there's days that very, very tight contracting channels and those are painful days. Those are the days that you're gonna put on two, three trades, two of them gonna be winners. Excuse me, two of them gonna be flat trades. One of them is gonna be a winner and you sit there and you just wanna gouge out your eyes but you know there's better value always the next day. That's where you kind of keep your sanity and you keep your composure. However, there's days like for example, Friday, if you asked me Friday at 2.30, what was gonna happen for this week? I would have told you, I would have bet my mother-in-law's right foot that we were gonna sell off. We saw horrible action last week, right? If you look at beta for two, three days, all our value for last week was in the downside. All of our value, I would say 95% of our week was all to the downside, okay? So and nothing was rallying on Friday, zero. Nothing was rallying. We saw the futures getting hit, they weren't rallying, they weren't going up, they weren't doing anything. So if you told me 90% of the time what was gonna happen for Monday, I'd say 100% was selling off. The problem is the market is like I've been saying for years, the greatest reality show that's not on television. So the market does whatever it wants to do. So when I'm talking about measured potential, we went from, hey guys, from Monday, if Amazon starts taking out 23.78, right? 23.78 that starts confirming for all you option players, the next move to the downside is 23.30, right? So you have your pivot, right? You have your pivot, obviously waiting for second entry to go in, and then you have your first initial measured potential. So for example, if Amazon to the downside would have taken out 23.78, for all you guys are trading on the option side, you might wanna consider the 23.30 puts, or maybe if it gets really, really aggressive and starts to stretch, maybe it goes down all the way down here if there's a complete destruction of equity prices all the way down to 22.90. So for all you guys are trading on the option side, once this thing starts to confirm, you might wanna consider the 23.20s, or to get better, more aggressive value, you might wanna start looking at the 22.90s, maybe in the 22.70s. And now to the upside becomes a whole different story, we rallied into the clothes and not only the stocks started looking good, they looked great. So Amazon looked a complete hot garbage the four days last week, three days last week, we had one day off. And now Amazon looks amazing, right? So for example, for this week, let's just say we get a slightly down open, which I don't think we will, we probably gap up to it. But in case we get a slightly down open, I'm gonna turn around and say, hey guys, look at Amazon, Friday's high was 24.42. If it starts building 24.42, for all your option folks, your measured potential goes all the way right here to 24.95. So for all you guys are trading on the option side and Amazon starts confirming, you might want to start looking at the 2,500 calls again, because that is initial potential, right? That's all initial potential. So when I talk about measured potential, I'm talking about for the option folks. And obviously for all of us who are trading intraday who don't want that overnight exposure or are not looking for that big measured potential, but we're looking to get pieces in between, $5 here, $4 here, $3 here, rinse repeat, rinse repeat until we get this total area here, it's gonna add up anyway. So you might not be long on the intraday side from the 23, 24.42 area, but you're gonna still capture 7, 12, 15, 18, $20. You might not capture the whole $40 move on via the option players, but it'll still you have that potential. So for example, just another example, like Netflix that looked terrible, right? Looked absolutely terrible on Friday. I said to myself, just stand things in a roll over, this 1150, 1150, touched 1150, touched 1150, once it breaks 1150, your next measure potential is 397. At that point, you looked at it and said, all right, let me look at the 400 puts. And if it started extending, then you might want to look at the maybe the 385 puts, but that doesn't happen anymore. So now we have to look to the upside. So now for all the option players, for example, going into Monday, the five-day supply is 422, right? Everybody see that? The five-day supply is 422. So you have to kind of make a choice. Is this trade for you? And the reason why I say that, you could see plain as day, there's 50 points in Amazon, right? You can see plain as day that there is right now at least 30 points on Tesla, right? Everybody see that? It's taking out this whole channel here. So your next supply is roughly around 860, possibly going to 890. But then you have to ask yourself a question on trade like Netflix, is it worth it? It's kind of the discussion we had a little while ago, is the trade worth it on the option side, right? Because again, if it takes out 822, excuse me, 422, 423, your first move is only to 427, right? Is there guarantees it's going to go to 433? Absolutely not. Is there a guarantee it's going to go to a running measure supply at 460? Absolutely not. So when you're looking at Netflix, at least I could turn around for myself on Monday and say, all right, there's at least $4 to the upside for me, more than enough for me, right? $4 more than enough. But if you're an options player, again, your question is, and again, this is where the panel could answer better than I could, would you guys take a trade in Netflix? I know the answer to Tesla, I know the answer to Amazon, I get that part, he has huge measure potential. But would you guys take a trade on Netflix knowing that the first move is only going to be potentially $3, $3.5? I'm going to pitch that over to Larry, you know, okay, Larry, you've heard this information, it's exactly what Dan says in the daily live webinar, you're taking this information, what do you do next? So I got 90 to 95% of the time, I'm completely in and out of my position within five minutes. I've tried to swing these. And if you remember Dan back in like November, that one biotech, AUPH. I thought overnight my position, my account was going to be like five times, I'm 500%, I come back in, I was up 100%, which is amazing. But still, I don't have too much success holding these things overnight. I think if you want to do that, you probably have to go out, probably about a month at least, maybe two months, near the money. And when you're doing that, you're not really leveraging your money, especially for the small account guys. So I think $3 is plenty, it doesn't matter what stock really, $3 to me, I can make a good amount of money, especially in Netflix, not so much before 10 o'clock, because the spreads on the option side of Netflix are as bad as they are in the equity. But like maybe not so much Amazon, because the spreads there are pretty heavy in the options, but $3 on like a NVIDIA, Roku, Netflix after 10 o'clock, that's well worth it to me, you can make a good amount of money. But I'm usually in and out, I'm not waiting, a lot of times that time decay, they'll chop you up, and that option price will lose a lot of value. I know from just talking in the room, I know Matt's really good about holding positions longer, and I wish I could get there, but I don't have, because I have a smaller account, I don't have that ability to hold. I want, when I see a 30% return on my money, I'm taking it all day every day. So that's kind of where I'm at with it. Matt, I wanna swing over to you on that, because that ties into a previous question I saw about it implied, you know, the volatility that's happening. And I've been in the room where, you know, you're like, I'm still in it. And Dan's like, why are you still in it? And you're like, I'm still in it. So, you know, you're obviously able to let your runners run or let your trades run. Talk about that process of knowing the measured potential, and then also, you know, your mental thinking in how you're gonna take profits. What's your process in taking profits? Yeah, so it, I mean, that kind of goes back to, obviously the measure potential, if there's still measure potential. I mean, most times I've probably, I've taken some off. So at that point, I mean, it very well could be a free trade for me. You're moving to break even. Yeah, yeah, so at that point, you know, what I have left is break even, you know, if those went to zero. So, you know, if there's still potential in the trade and the market everything is still trending my way, then yeah, I'm gonna stay in the position and see what happens. Now, if the market starts going against me, if my position goes against me, I may just go ahead and sell the position and wait to see if I wanna re-enter. You know, but if I've got runners and I've already taken some profit and everything still looks good, I don't know why, you know, you wouldn't stay in the position. Sam? Yeah, that's one thing, you know, I'm like Larry in that sense, I wish I could do it, but I have a hard, hard time holding my runners, especially cause I just, I don't like to, I like to be flat at the end of the day. And I'm like Larry, when I see my options jump up 30, 40%, I have a really hard time not taking it off too. And I'm the type of trader, you know, if I get a really good setup, I'm going with big size and if my options spike up $1, $2, $3, I have a really hard time not just booking that profit and taking it to the bank and moving on to the next one. And if you're a beginning trader, how many contracts do you take? Well, I think if you're brand new to options, I think you gotta start with one, you know, if you can't trade one contract perfectly, you definitely can't trade 10, 20, 30, 40 or 50, you know, you gotta start small and slowly graduate up to it, you know, especially if you're a first time. If you trade it with equities, before when you know this process, you know, I'm sure you can bump up your size, but that's all depending on the person too, you know, but if you're brand new to options, I definitely wouldn't recommend trading more than one at a time. Lissandro? Yeah, don't try to do what I did in the beginning and use your whole account to do that, stupid. No, he's right. Options honestly is a field type of thing. Like if we wanna be real here, like all of us in the panelists, didn't it take you all trial and error just to figure out, you know, your strategy and how you're, you know, implementing your PS-16? Yeah, I was pulling it out. A bit of a pun too, is finding volume on the contracts. Oh yeah, definitely. You know, and this is something too, so this is something I wanted to add on earlier. So Dan said the potential was what, 427 on Netflix? Yeah. Okay, I wouldn't do 4, like, I know some people would look at 430 as like more appetizing options. I would do 425 or 420 just because I know they're close to on the money or near on the money and you're gonna see that volume come in on those options so you can get in, get out. And also, I think Sam can come into it as well. Whenever these pivots trigger and you see this volume surge, those things jack up your premium. So essentially, you could just sell on the way, you know, obviously it's the right thing to do, sell on the way up because you're just keep on going up, keep on going up. And I've seen many times where on a Friday, well, I do, you know, next week's where it went to a specific price level on Tesla, came back in, went back to that specific price level but my options are worth less. Awesome, awesome. And I want to give everybody both the attendees and the panelists an idea of where we're going. We've got about 35 minutes left. We're gonna do a hard stop at 12 noon Eastern time. So that's how far we're gonna run this. And I know that a lot of people are asking questions in the chat and some of the answers are coming from the panelists and typing in there, which has been great. But if your question doesn't get answered, I want you to also know that we're going to, we have a list or we basically have a recording of the entire chat and we will compile all those questions and a lot of the most commonly asked questions, we will then start to work on those answers, both in written form because we really wanna build out the option side and be able to give you guys as much information. So also know that your question is not going unseen or unanswered, it will be addressed over time. So I just wanna celebrate you and all those guys and everybody that's asking those questions. So is there a particular, we'll go over to Larry. Is there something that you saw within the questions that you really resonated with or you feel at this point, what does an options trader need to know with the PS60 system? Just kind of what everybody was saying, just patience and just wait for your spots and start out small and once you get confidence and go into it, it's not as intimidating as people think, I try to keep it as simple and as stupid as possible. Kind of like how Dan has said, if you can teach us to a five year old, I think you're doing something right and that's my whole process on it. Try to keep it simple. What I'm up against is I'm doing this part time. So I got about an hour a day. So I need to go in pretty quickly and get my trades in or my trading for the day. But I've found when I try to force stuff is when I usually, these pivots like gates, sometimes they fly up and sometimes they stay stuck and you fall fly in your face. So, yeah. Dan, what would you like to, where would you like to direct this in terms of what? Yeah, I wanna just share something. For all you guys on the Twitter feed, you guys don't know this, okay? But I'm trying to say this is the best way I can say what I was actually saying. The reason why these pivots go very, very aggressively, okay, again, like I said this for years, I found an arbitrage in the market and most people won't know this. I mean, if you guys in the live webinar, you guys obviously know this. I joke around, I call this the Shapiro algo. It's a joke. There's no such thing as a Shapiro algo, right? But it all jokes aside, when these pivots confirm, okay? When these pivots confirm, you're getting an algo monster steroid juice, okay? A Tesla doesn't go up $2, $3 in 30, 40 seconds. It doesn't do that by mom and pop buying 50 shares from the breast, okay? This is institutional carnage. This is an institutional run up and it's much easier to have a high measured predict predictability on the high beta names because it's institutionally driven, okay? If you look, for example, like the hot stock, I forgot, what was like the hot stock of the week for retail? Like MARK, right? Like a MARK or ABIO. When you're dealing with an MARK or ABIO, you're dealing with two sides, right? You're dealing with the chasers, okay? And you're dealing with the people who are shorting stock into the chase, right? It's retail. It's one trying to trade with a $1,000 account on Robinhood versus the short seller who realizes, hey, these guys are completely chasing this without absolute merit and I'm gonna take advantage. So it's retail on retail, okay? It's retail pretty much getting killed. When you're dealing with institutions and you're dealing with an Amazon, you're dealing with a Facebook and you're dealing with a Tesla or a Netflix, think about where the money flow is coming from. It's coming from institutional size because the higher price the stock is, right? The smaller participation you're gonna have from retail. This is just the fact. That's why, again, you go into a lot of a Nissan dealership and you'll see 3,000 cars on the lot versus a Bentley dealership where you'll see three cars on the showroom, okay? It's institutional versus retail. And when you have an area that supply gets confirmed, which basically means there's more buyers and sellers, it's much easier for an institution to move a $2,400 stock versus, for example, retail, thousands of thousands and thousands and again, no offense to the Robinhood traders. I'm just kind of using them as an example of thousands of traders with $1,500 accounts trying to make five cents, okay? There's just so many of them. That's why there's hundreds of millions of floats and you hear this word on social media, float rotation. So when you get a move and you get a three, four, $5 candle, very, very quickly, the key to this business is take your money, right? Take your money and it's very hard for me even doing this almost 21 years. It's very hard for me to say to myself, well, I just got a $4 candle, $5 candle on Tesla in 45 seconds. No, I'm good, I'm good. I'll wait till it goes higher, right? The hardest thing to do is trade with a winning position. It's the absolute hardest thing to do. It's the idea of I know where measure potential is gonna go but dammit, I just got this amount of money in my hand in like 30 seconds. Who is not gonna take the money off the table, right? Or at least start taking money off the table. So the idea of scaling out is probably one of the hardest things to do because you're saying to yourself, I'm using common sense versus me being extra greedy and you have to find balance in both and that comes in time. So a lot of people will turn around and say, hey, Dan, I sold way too early. And my answer to that, especially if you're a new trader, may you sell too early five times a day, right? May you sell too early five times a day. Let your worst problem today be that you sold your stock early five times, right? 99% of the traders would chop off your head to get one of those trades, let alone five. So don't put a lot of pressure on yourself trying to get that perfect trade, especially when the options market, you know, again, kind of your fighting time, okay? Not only do you have to be right technically, you have to be right yesterday, okay? You can't be right tomorrow, little late in the day. So you're fighting not only price action, but you're fighting time. And it's much easier, okay? Going with, right? Going with the institutions that are trading Tesla, going with the institutions trading Amazon, than fighting, you know, Joe Blow trader, you know, one, two, three on Twitter for three cents of MARK, it's just the reality. These are the hard realities of what's happening here. So when you're trading, your job, especially in the beginning, number one, get as much great information as possible, okay? I've run into traders on social media say, I've been doing this for seven, eight years, I still don't get it. Well, if you keep on listening to people on social media saying, Joe trader, God, from anywhere in the world, is giving you information that one plus one equals 66, you're going to regurgitate that bad information, you're never going to get anywhere. So getting valuable information is incredibly important, okay? Staying calm is tremendously important, but the biggest part of trading is being an adult, okay? You got to be an adult. There's days I wake up, I feel good. I'm very, very sharp. I make incredible good decisions. And then there's days I wake up, you know, I feel like I'm tilting to the left. My mind is all over the place. I'm not focused. And in those days, you have to be an adult and say, you know what, I'm not feeling it. I don't have my A game. I have to stay out. But the most important part is you have to wait for value. And I say this all the time on the Twitter feed and I say this all the time in the room, we don't trade because the market is open. We trade because we're valued. And if you look at Friday's day, yeah, we did what we had to do, okay? There was Pivots here, Xehan, this one, Tesla, blah, blah, blah, blah, but we waited, okay? We didn't take the C minus setup in Apple or the C minus setup in Roku and this, that, the other thing. We waited. And as long as you wait and you don't prostitute your money, you're going to be okay. Whether you're trading options, equities, futures, Forex, whatever the case may be. And I think somebody asked this in the room earlier, you can trade any asset class, whatever you want. As long as there is real organic volume and there's a range, you could trade Forex, you could trade futures, you could trade Bitcoin, you could trade stocks, options. Like I trade beta, okay? That's what's feel good for me. It's like the fuzzy slippers, okay? You might want to trade Uber, right? Which is a $30 stock. A pivot is a pivot is a pivot. Like yesterday, there was a pivot. What was a pivot I put in the room yesterday? I just saw it on the chart. I said, wow, that looks pretty good. It was like, yeah, there was like a 97 cent stock. And I said, hey, all you guys are trading this 90, you know, these, I want to be nice. These dollar stocks, this thing looks pretty good. This thing went from 97 cents to $1.20. So what's the difference, right? What's the difference? What's the difference if you're trading Amazon or if you're trading a dollar stock? A pivot is a pivot is a pivot. But again, you can't anticipate, okay? You cannot anticipate, you cannot forecast, okay? You cannot try to will the stock your way. You need confirmation, right? And that's the bottom line. You need confirmation. Without confirmation, you have a wish. You're in God's hands. Please God, let this work. Please God, let this work. World is coming undone, right? 2020 is Satan's playground. We got Corona, we got freaking riots in the streets. People are burning down their own houses to make a point. Okay, it's a whole different conversation. But again, the world's going to hell in a handbasket. We can't control any of that. The only thing we can control is our trading. That's it. And the key is to wait, get the premium setups, the jacks, the queens, the kings, the aces and strike with incredible extreme pressures. That's it. And everything else, you wait for your spots, you get cash flow, rinse, repeat, rinse, repeat, rinse, repeat. Dan, always phenomenal. It's really again, I wanna remind everybody who hasn't been in the daily live webinar, this is the type of information that happens five days a week when Dan's in the room and it is again and again. So I wanna go through the panelists like, Larry, your list as an options trader but as a trader, you're listening to Dan on a regular basis, how has it helped your options trading? Tremendously. I mean, I wouldn't have an entry-action strategy, money management, mental strategy if it wasn't for Dan in this. I was lost before coming in here. I was trading triple-leveraged etic commodity ETFs. At some points, I was holding them overnight which those things, if you look at any chart of those, they all go to zero. And then I came in and, you know, thank God I listened to chat with traders and found Dan, found a guy who tells the truth and speaks the truth, doesn't sugarcoat anything. I mean, as a trader, you need to hear that. You need to hear the hard love and that's what Dan gives in his market. I think Dan, your greatest talent is your pre-market sentiment. That gives me so much confidence entering trades. When I know, hey, the market's most likely gonna fake us out here or hey, maybe just chill, wait till 10 o'clock. You know, let's see what plays out. I would have lost my account by now if it wasn't for that. So yes, this definitely gives me a game plan and I've just added on with the options because I have a smaller account and I wanted to get into the beta stocks because they are what I think the best thing about and they're consistent. Dan always says, you trade random stocks and get random results with these beta stocks. I've had a lot of consistency over the last six months. Awesome. And so what I really sense where we're at right now, what I wanna do is I'm gonna go through each of the panelists and Larry, I'm gonna give you another question and then we'll give that summary. So for you, you've just answered that awesome way how Dan has helped you. What do you feel, whether it's a new options trader or a long-time options trader, what do you feel that anybody trading options needs to know about anything you wanna add, closing comments about the PS60 process in terms of your success? Just, I mean, know the spreads. Some of these have huge spreads, especially some of the random stocks. Like I even call shop a random stock because the spreads and the options in that are insane, $5 sometimes. Just know the spreads, know the volume. I wouldn't trade the first 10 minutes at least with options because I said that price discovery hasn't happened. So options only trade from nine 30 to four unlike stocks. So they need time to catch up on where the price is currently at as opposed to where it closed the day before. Start out small, try to keep it as simple and as stupid as possible. And I'm willing I think as everybody else to answer any questions if you guys have going forward but it allows you to leverage your money. It allows you to hopefully build over that PDT if you get in a cash account. I think it's a great thing. Sometimes, I mean, the leveraging of money, $20,000 in an option, you could be in tens of millions of dollars in the equity controlling it, which was striking to me whenever I finally realized that. All right, that's awesome. Thanks so much, Larry. So huge. And so, Mache, I wanna go over to you and some people have been wondering because Mache mentioned earlier before we went live, he said that he had some screen sharing and some other stuff, a PowerPoint that he had put together. So what I've talked to him through private chat is that I'm gonna do a separate interview with Mache to go over this process and then we'll put that out for you guys too. So because I really wanna ask him a bunch of questions, I imagine he's got 15, 20, maybe even 30 minutes of amazing things to share. So, Mache, the same question to you. What have you learned by being a part of the PS60 process with Dan and Access to Trader and what does anybody who trades options, what closing comments do you think they need to know? Well, go slow, there's no rush, pick your spots, manage your risk, stick to the process, that's it. There is no reason to rush anything and there is no shame in trading one or two contracts until you figure everything out. Money is not that important, it will come when you stick to the rules and stay positive, right? It shouldn't affect your life, it shouldn't affect anything what's not trading related and I bet it's like a risk management related. And yeah, as I said, go slower and build your process, right? I hear that everyone has a little adjustments to PS60 and it's great, this process allows to tweak it a little bit to your personality as well. And this is great, right? As I said, I trade, I do those scalps, I do swing trades, I do date trades and there's a lot of potential in the process, just like you need to put your work in and work hard. Awesome, awesome, thank you so much, Maché. And then Lissandro, those questions for you. What were they again? Where is buddy? So basically, how has the PS60 process helped you as a trader and what do you think any closing remarks does an options trader in this system need to know? Well, I'll tell you this much, if I didn't have it, I'd be broke. Jokes aside, honestly, I think the thing that's actually helped me turn around is the fact that I have patience now and before I didn't. And I know with options, you're leveraged so you expect to make way more than what you could with equity and my biggest advice to everyone that's trying to trade options or is trying to figure it out, forget that the money's there, all right? Because I'll tell you this much. I've seen, prior to this whole, you know, my account soaring to the heavens from where it was, prior to that, I would always think about, oh, I'm making this much, you know, I'm on a Tuesday, I'm making this much and then everybody knows this, when you hit a red day, that crap hurts your confidence. And something I've realized lately is the fact that I'm not worried about the money, I don't care. I think yesterday was the first day in a while where I actually cared and I had a red day, but I'm not gonna let that translate into Monday because Monday is a whole new day. You know, there's a lot of opportunities. I'm gonna worry about the pivot, I'm gonna worry about how much potential there is and I'm just gonna sell my options along the way. I don't need to get cute, I don't need to, you know, make X amount. You know, it is what it is. If it's not meant to be, I'm not gonna worry about it. And that's something too, that I wanted to touch on before. I was just like kind of nervous, I don't know if anyone can see that right now. I don't, I do limit orders. I never do market orders because I did that once and like I lost five grand in the, like that. If I don't get, you know, the pivot, it is what it is. You know, I've accepted it. Sometimes I will like, especially on Tesla, like if I see it, I'm not getting filled. I'll just keep on handing limit over and over and over again until I get filled. Because I kind of know that I kind of have an idea of how Tesla works now. But yeah, my biggest thing about, you know, options as patients and discipline. And I like, if I didn't have the webinar, like I said, I would be broke, honestly. So. Awesome, awesome. Thank you so much, Lissandro. And then I'm gonna move over to Matt. Do you know the two questions? Yeah, the PS60 system. Well, what was the other one? And then anything that you would like to add in closing remarks that an options trader needs to know within the system? Yeah, so the PS60 system has really helped me on just seeing the entry, the exit, and seeing what measure potential there is. You know, then from there, you get me to just kind of determine on if, from the options side, if it makes sense, you know. Every day when I go in, you know, before we go into the room, I've already looked at charts. I've already, I can already, I've seen the measure potential. I've looked at options. I've looked at pricing. I've looked at premiums. I've looked at, if it does, it trade and it does move to its measure potential, you know, what would my profit be? I know all of that going in to the day. And that's something, if you're looking at options, you've got to do, you've got to know, you've got to know, you've got to have a game plan going into the day. And then when Dan comes on and, it's also helped me a lot when he's with just his, I think it was Larry said his, just his market sentiment for the day. You know, that's helped me a lot. Sometimes I've maybe been, I've looked at it to the downside and he's looked at it to the upside and it's kind of made me reassess some things and it saved me a lot of money in the process. So, you know, just being prepared for the day, not looking at too many charts, you know, I primarily test is my number one. I trade Netflix, Amazon, Nvidia and the spy. And then outside of that, I might, you know, depending on what's, if I'm swinging something like a shop or something that's doing something for the week, but that's primarily the only charts I looked at, the only things I trade. So just use, you know, be prepared, use Dan and, you know, you just got to manage your money. You got to know when to go big and when not to and when to start taking profits and when to pull out. You know, those are the biggest things. And when you, if you're just, for all the guys who are just starting options, like there's no shame, just take one contract because you've got, I mean, if you're like me, I didn't know how to enter and I didn't know how to exit a trade. So on the option side, so just getting comfortable with that before you do any kind of size is important. That's brilliant, brilliant. Thank you so much, Matt. And the final panelist, Sam Cutler. Yeah. So what was the question again? Sorry. Yeah. I don't know. How has Dan and Access to Trader helped your trading for options and what closing remarks for any options trader using the system, what would you like them to know? I think the biggest gain for me is learning the process and it's helped incredibly to grow your confidence. And as your confidence grows as a trader, you see your learning curve start to fade and you start putting on incredible trades. And Dan helps you in that sense by instilling that discipline in you and teaching you the work that you need to put in. And a lot of the work comes back on you. You have to put in a lot of the work yourself. Like every night I run through my charts, every morning I'm running through the charts. And for the option side, I'd recently started going through the option charts as well, the candlestick charts on the actual strikes I'm trading and trying to find correlations on them as well. So that's something I'm working on now that I'm pretty excited about. That could be pretty good. And yeah, it's just a lot of, just put in the work, learn the process, stay disciplined, stick to your rules and the results come. Hard work outweighs everything. So you put in the time, you can't rush things, you can't immediately think, amazing things are gonna happen overnight. You dedicate yourself, put in the work and the results come. And you're lucky enough to have Dan there helping you, teaching you the ways to do it. That's awesome, that's awesome. So as we wrap this up, before I turn it over to Dan, again, I want everybody to know that every question that was put in the chat will be aggregated and we will take that and put it all into forms. And then we're gonna start working through those with our option traders to get you those answers to help you over time become a better options trader. And I wanna just big shout out to everybody that's been here today, all the attendees for being a part of this. What it does is it shows me and I'm sure everybody on this panel, how much people wanna know, but also how great it is that we have these successful traders and many more that the people on this panel are willing to share their time. I wanna personal thank you from the team that we are so grateful, Larry Masche, Lissandro and Sam and Matt. I wanna just thank you so much for giving your time to all of the people, this entire family, access to trader is a community. That's what it's about. We have the Discord, we have the chat in the daily live webinar and then of course we have Dan. I mean, when Dan is- All disclosure, I don't even know because this is where the thing is. I didn't know we even had it this way. That's right, right. All disclosure, I had no idea. I had no idea, there was a, what's it called? The workshop part one until Ken. That's right. So yeah, I'm gonna pass it over to you, Dan, now. Thank you also for your Saturday. I know how much you give during the five days, but I'm gonna let you wrap it up in any closing remarks. Absolutely, first of all, thank you, Ken, and the rest of the team who are putting this together. Now I finally don't need to answer the question. Can you try? Can I try options with Pivots? Yeah, you could. So at least we have this on video. Again, I wanna thank Sam and Lissandro, Matt, Larry and Majek definitely taking their time out. They didn't have to do it, they didn't need to do it, but they came up, they came up and they helped me out and I wanna thank everybody to kinda make my life easier. The one thing I just wanted, especially to you guys who are not in the live webinar and I say this every single day, this is not a race, there is no prize, okay? There is no prize. There is no trophy at the end of the day. This is a grown-up business. These are for people who have spent a lifetime. I mean, I'm gonna be 46 years old next week. I'm gonna be doing this 21 years. So I spent half my life doing this and I'm telling you it's not a race. You don't need to figure everything out day one. You don't even need to figure everything out in the first two, three years. The first two, three years, it's like going through, it's like going through college. You don't know who you are. You don't know your personality yet. You don't know your management skills yet. You don't know your mental makeup yet until you finally go through it and it's all gonna work out. It's all repetition. It's all about getting good value every single day. It's all about consuming good information. But the most important thing is what my mentor, Meyer Hoffman told me and I'm gonna pass on to you. Just don't trade like a putz. That's it, that's it. Don't trade like a putz. I know the flashing lights are out there and everybody on social media is doing this and doing that and 65 trades a day. That's wonderful. I wish them the best of luck. I have no, okay, that's great. The most important thing is value, value, value. Patience, the most loose word in the trading vocabulary but it's the most important one. And once the stars and the moon line up, that's when you go in very, very aggressively. So guys, once again, thank you very much for coming out. This will be recorded. Kyler does an incredible job on all our videos. We'll edit this and put the bow and ribbon and all the balloons for Phil. I don't know if you're in the room. I will have white doves flying in the background with me for every single video going forward. Just kind of jazz it up. And other than that, guys, have a great weekend. Enjoy yourself. I am full disclosure. I haven't really been out of my house for about four or five times the last four months. I will be making a trip today to the drive through Starbucks with a hose tranquilizer gun and Lysol spray. I will say, if anyone has any more questions about options, like feel free to message me. As you can tell, this is one of my first videos, so I'm kind of nervous. I couldn't tell the time. Yeah, the whole time I was like, I'm not gonna lie, I'm probably the youngest one here. So, but if you guys have any questions, feel free to message me. Personally, I will take the time out of my day to answer back. It's the least I can do because literally I'll text Dan five minutes of reply. Five minutes of reply, I'm like, man, what you doing? Don't worry, Lysantro, we'll be sending you the entire list. All right, guys. All right, thanks, guys. Have a great, have a great weekend, everybody. I'll see you on Monday. We'll see you on the video tomorrow. All right. Later, guys. Congratulations for putting in the time to take control of your trading. You're one step closer to owning your future and achieving the success you desire. Let us know what you learned today and what you'd like to see from us in the future videos in the comments below.