 Welcome. This is Melissa Armo with the Stock Swoosh and I wanted to review prop trading accounts because I've gotten this question a lot recently and I wanted to talk to people about the exact definition of what a proprietary day trading account is. Many people weren't aware this even existed. So if you'd like more information you can email me at Melissa at thestockswoosh.com. You can call me at 929-3200 Gap. Follow me on Twitter, Facebook, YouTube or Skype. If you want to learn how to train either part-time for part-time income or to do this for your full-time job you can learn. And I can teach you how in my Golden Gap course. It's a two-day class where you would learn my entire system how to take the entries and then if you wanted to after the course you could sign up for the live trading room. Everyone in the live trading room is a student. You must be a student of the class in order to trade and join the room. I think it's very important for people to know what to do and talking about prop accounts. You really have to know what you're doing in any type of trading account but particularly with a prop account. So what is proprietary trading? It's also called prop trading. It occurs when a trader trades stocks, bonds, currencies, commodities or derivatives or other financial instruments with the firm's own money. This could be any firm. Okay so I'm not a prop firm but there's a lot of out there that you could go to. So you do it and you make a profit and that prop firm gives you leverage and many of the prop firms give anywhere from 10 to 1 leverage or even sometimes up to 20 to 1 leverage. So it's different for every firm. You have to talk to the specific firm. So the difference is with this you don't have to put up the 25,000 requirement that's typical of an active day trading account at a retail brokerage account. So there's different types of ways and means for people to trade who do not have 25,000 and if you've never heard of proprietary trading this is definitely something for you to look into. There are a lot of prices out there where you can open up accounts like this. So you do not need the cash equivalent of a stock price to buy or short any stock to day trade. I think that's important. It's something that I really want to talk about more when I was talking about the Golden Gap and AMAT which was recently a really nice play that you could have taken substantial size in because the stock was only initially 30 cents. Strike price was around 35 and change. In that example you could have taken obviously a good size even position if you had a prop account versus even a retail account depending on your balance and because something like that when you have a small stock you can take a lot of size even with a decent not that much risk okay. So 30 cent stock would be 300 bucks risk with a thousand shares but you have to have the ability to be able to take a position of a thousand shares which would be I'm just going to use 36 bucks even though again that's not the exact price of the entry but you would have needed 36,000 in margin. So the reason that I really want to review this is because you don't need 36,000 dollars in cash to take a thousand shares is something like AMAT. So every day trader actively trades with something called margin. So whether you have a retail account or prop account you're still trading with margin if you're an active day trader and that's just what makes sense because some of these trades are like two minute trades it just wouldn't even make sense to do a cash position. So you do not need the cash equivalent of a stock price to buy or short any stock to day trade. Day trading is you get in you get out you're in you're out you're in you're out in several minutes or several hours but you're in between nine thirty you're out before four. So day trading is you get in and out and most traders use something called margin as I said you receive margin from the broker the amount of margin varies from broker to broker again check with your broker. However you can use my system the Golden Gap per system to trade with a small account beginner or a large account advanced. The only difference is the size of the positions you would take based on the size of your margin. If you do not know what a proprietary day trading account is see the definition I just went over it or ask me for more information but this is definitely something that's available to people if they weren't aware of it that's one of the reasons why there's so many active traders out there ever since the proper account started I don't know how many years ago a long time now there's been more and more people more liquidity in the market. So literally anyone and even as twenty five hundred dollars to start a day trading prop account has the ability to trade my system after they learn my method in the Golden Gap course and again your risk how much you risk per trade has to do with the size of your account. So in 2019 I want to stress this it's going to be extremely important to know what to do when you're trading and to have proper education before you place a trade in the market because the market is going to be extremely volatile in 2019. I called it I said it I'm telling you this year 2018 is going to look like nothing with the volatility compared to 2019 so be prepared and what does that mean you prepare yourself ahead of time for trading by giving education what does that mean it means if you've been trading or you are trading now if you don't have the right education the right system to trade you're going to lose money and if you've been losing you're going to lose more and if you're making money you still might lose in 2019 if you don't have proper education and a system that works in any market conditions okay so my Golden Gap system is not dependent on the market rallying or falling I'm looking for specific stock picks every day that are gapping and every single day I'm looking at a different ticker ticker symbol and every single day I'm reading a different gap so when you look at the money that you have you have to look at the value of the education you're going to receive from me versus just losing money taking trades in the market a lot of people have money and they open up accounts and they trade they don't know what they're doing and they don't have the right education and maybe maybe people have taken educational courses in the past and not learn how to trade or make money but that's all fine and good that's life stuff like that happens not every place out there will teach you the right things to do it's not that easy it took me three years to figure out my system so again I've been doing this now for ten years which is a very long time but initially initially was three years to figure everything out and that is quite quite a long time so you were gonna lose money in the market if you don't have a good system and even if you're making money this year trust me next year is going to be extremely volatile and it's going to be one of those things where I think the fast moves are going to be the best moves and sometimes the biggest moves and you have to be able to capture those moves I hope that that makes sense anyways my system I look at the golden gap checklist you'll learn this in the class it's the 26 points that's who you know which gap to trade every morning 20 points or more tells you it's good and obviously I am the teacher in this scenario you would learn from me the class is online you can be anywhere in the world and take it so how much money do you need to trade the golden gap well obviously need the cost of the course the class is six grand then you need to open up a day trading active account after the class again prop accounts minimum 2500 retail accounts 25,000 you choose the type of account and broker that suits your personal needs wherever you want to go you have to check them out they have different platform fees and different commission structures too but you definitely can start out as a beginner trader with a prop account and trade my system even if you only risk $100 a trade at the end of the week that's 500 bucks and at the end of the month guess what that's two grand and two grand isn't bad for a small small account to be able to make you know and I'm telling you right now that people just don't think about the fact that they can start at a set place and go up the ladder people say well I don't want to start here I start up here no start here and go at a nice smooth pace it's a lot less stressful awesome and you'll learn as you go there's no downside starting out with a small account there's no downside starting out as a beginner and it teaches you to be disciplined and to focus on the information the information that I teach in the class and that I discuss in the trading room so the class is called the golden gap course class is December 15th and 16th last class of the year very important because if you want to start trading with me right away is in January 1st by 2019 then you better do the class in December and it's gonna be a good year next year was a good year this year it's gonna be even better one because of the volatility and also as you know I'd like to focus on the shorts and we're getting some selling action here in the market recently so December 15th and 16th is the class nine to five eastern time cost of class is $59.99 US dollars classes online it could be anywhere in the world and take it if you want to do the convotes the trends in the golden gap this is about long-term trends does help your day trading good for swing trading options cost of the class is $64.99 two classes for the one price and this is a great deal running an early bird through December 8th sign up for the golden gap course for December you get the trading room and options that are free through 228 okay deadline for this is Saturday December 8th so think about what I said tonight look into prop accounts if you want to there's so many places out there do your due diligence check the places out if you have any questions email me at thestockswish.com