 Hello everyone and welcome. This is Melissa Armo with a stock swash, and I wanted to have a lecture tonight on risk because if you want to make money in the market, then you must be willing to take risk and that can take on many different forms. You can look at it as financial risk, the money that you risk in the train, and you can look at it also as your time, your risking a time investment, and you also have emotional risks involved where your emotions could be up, your emotions could be down. So when you decide that you want to trade, if you want to do this, particularly if you want to do it for a living, or even if you want to do it on a side, it is about taking risk and you have to be willing to take risk. Now, the amount of risk that you take depends on you, how much you're going to afford, your personality. But if you want to make a lot of money in the market, then you absolutely have to have the type of personality that you're willing to take risk. And I think a lot of people risk money in the market and actively trade, and they're not really risk takers. They want all kinds of guarantees. The market doesn't guarantee you anything at all. I can guarantee you that the market will open tomorrow morning at 9.30 Eastern time, and I can guarantee you that it will close at 4 o'clock Eastern time most days of the year it will. Occasionally the market has been halted, though, to be honest with you, or even closed for one various reasons or another. But other than that, what happens on any stock on any given day is based on what? Unknowns. So what if you decide to trade? It is very, very important to take what I call calculated risk. Because calculated risk helps you feel like it's not an unknown. You put all the odds in your favor of what you're choosing to do when you place the trade on. You put in a stock, or have a fixed amount if you take an options trade, where you can't lose any more than what you're actually risking. And the stop also, if you date trade, is like the insurance where you are looking for a protection, where it is going to take you out of the trade at a set price, if in fact the trade doesn't work. So if you'd like more information, you can email me at Melissa at thestockswush.com. You can call me at 929-3200 Gap, and you can email me at Twitter, Facebook, YouTube, or Skype. So think about this for a little bit. Are you happy right now with your current career? If you are, then continue doing it. But if you're not, then maybe you want to think about day trading for a living. Again, as I was discussing earlier though, you cannot get away from taking risk in the market. So you have to find a balance within yourself. What amount of money are you going to be okay risking? Like for my system, for example, it has about an 80% win ratio. So you figure out every 10 trades, eight will be winners and two will be losers. And so you need to know that if your personality is okay with taking risk, then you have the potential to become a professional day trader. And you can come and learn from someone like me that has a good system. But trading isn't gambling. And if you're going to take a trade and you're going to risk money, calculator risk means what? You're using a structure. You're using a strategy. You're using a system to do it. You're not doing it willy-nilly. You're not listening to something online or in an email or something that you see on TV to determine what you're doing with a trade. And I trade based on technical analysis. That's how I make the decisions when I'm looking at a chart. It's technical analysis is price action. It's not based on fundamentals. Price action is something you can see right away. It's current. It's immediate. It's in the moment. And you're looking to capture a move in a stock and that's how you make money if you want to actively trade. But you still have to take risk in order to make money. And there's no getting around that. So everyone really for the most part must work to support themselves. Now you may come from a very wealthy background or a very wealthy family, or maybe you have a spouse that's taking care of you or a parent even. But for the most part if you're an adult, if you're a child hopefully your parents are taking care of you, but for the most part if you're an adult then you must work to support yourself. So it's very thoughtful. You think about it. You say, well, do you like what you're doing for a living? And also, are you happy with the money that you're making? Okay, that's very important too. A lot of people are not happy with the money they're making. A lot of people don't like their job. They don't even like what they're doing. So if you get to a certain point in life and you say, you know what? I really don't want to do this forever. I want to do something else. What is it that I want to do? And the nice thing about trading is, again, the market hours are only from 9.30 to 4. It's not even in an eight hour day. And what we look at is gaps which happens usually set up in the morning within the first half an hour to 30 minutes to one hour of the day. So when you're looking at even the market hours, we're not sitting at our desks. I don't have the room open six and a half hours a day. The room is closed by 10.30, 11 o'clock, the latest, okay? So it's definitely definitely something where you would not be working 40 hours a week if you wanted to actively trade. But if you have no experience, if you don't know what you're doing at all, you must learn. And if you are trading and losing money, you should stop because you don't know what you're doing. And a lot of people keep throwing money into the market and taking trades and it's really gambling. They don't know what they're doing. I run across this all the time. And it's no wonder then that most people lose money in the market because they think they know what they're doing and they don't. Or they take trades based on nothing at all, buying support and shorting resistance. And in the long run, that doesn't work. That's not a strategy. You must start really and you must look at it if you're not profitable. Or if you don't know anything where you're starting at the beginning and you look at it like a journey. You're at the starting point and you have goals and you're moving up the ladder through the goals to achieve what you want to achieve. So you're going and you had a starting point and you have the goal in mind and you go up the ladder. And that's how you make it. Nobody starts out at the top. So it is about thinking thoughtfully about the risk and that has to do with again your personality and the amount of money that you have. And if you're not sure, ask me and it has to do with the size of your account and also how much margin you have in the account. If you're going to be actively day trading, you have to be thoughtful. You must use stops. You cannot risk more than you can afford to lose. And all of these things are very important, but not only that, the quality of the trades are important. I call it conviction and you'll learn about this in the class if you come to me. It's about 100% conviction. I say I have convictions is going to work. I never take a train believing that it's not going to work. When I take a trade, I believe that it is going to work. So again, what does this mean? It's calculated risk. So I'm using the system that I created. So obviously I'm very good at it. I've been doing this for 11 years. I've had the business for seven and I believe in myself, but I also highly believe in my system because I've been doing it for so long. And I'm very good at predicting where stocks are going to go based on the fact that I've been doing this for so long. And what I do is so unique. What I do is so different from everyone else. It's so unique. I mean, it's interesting because I've been on TV now for about two years. I've been listening to other people and I've been on with other people. And I pay attention to other people say, and I am shocked. I'm just amazed at how people look at things incorrectly all the time. And they say things on TV that are totally wrong and they teach people things that are wrong. What I do is show unique. It's so different. So you really will learn a super duper way to effectively read charts in a very particular, direct, focused and unique manner for me. Because the system that I created is very, very different. But if you think about your life and you look at it in a pie chart and you say, okay, well, how many hours in a week do I spend working? How many hours in a week do I spend for myself, for my family? You know, you divvy it up. Most people would spend at least this red area within their job. And some people would spend even more than this. And then you have family and you have your own personal time and you have friends and leisure and exercise and sports. And maybe you do charity work. So I mean, there's lots of things that you could separate out that you do with your life. But the biggest piece of the puzzle, the pie for most people when you're looking at the pie chart is really their job. And again, the nice thing about trading is the market is only open from 9.30 to 4. And it's rare that we would even be doing anything six hours or six and a half hours a day. So if you want to move forward towards your future and learn something new that could potentially be a full time career for you, even if it's not full time hours, but would be what you use to support yourself is about working for yourself. And you can day trade from home. All you need is a trading account. You learn my system and you need a computer and live charts. If you're interested, you can take my class and learn it. It's called the Golden Gap Course. The class is April 27th to 28th from 9 to 5 Eastern Time. Cost of the class is $59.99 US dollars. Class is online. You can be anywhere in the world and take it. I also have a Gap Options Newsletter subscription. This is only options trades. It's $49.99. The trades are emailed to you. You take them and you manage the trades yourself when you're up. You get out. And I'm telling you this letter has been fantastic for the year. Again, these could be day trades or you could hold them for a couple of days. So you do have to watch your trades, but if you're at a job or you can't actively trade in the morning, this is very convenient. The trades could come in the morning. The trades could come in the middle of the day. You take the trade when you get the email. Okay. Any questions, email me at Melissa at thestockswish.com. Have a great day, everyone.