 Welcome everyone, let me know if you can see the slide. My name is Melissa Armo, I am the Stock Swoosh, and I'm here today, I'm going to talk to you about how you can make money trading options. If you have any questions, you can write them in the room. So again, my name is Melissa Armo, and I teach people my method on how to trade. You can use my system, my method, which I teach in a class once a month. The class for this month is this coming weekend, October 19th and 20th. And my system is something that you can use to day trade or do options. So I'm going to talk about options here tonight. So one of the reasons that options are a different way to trade, excuse me, is because you could be active in the market, taking positions, but you don't have to be right necessarily on top of your trades every second. Like when we're day trading in the room, I might get in something and boom, get in and out of it in five minutes, eight minutes, 10 minutes in the live trading room. But with options, the nice thing is, you could take a trade, put the trade on, let it move, let it ride, and it could take a couple of hours or could take a couple of days. So you don't have to necessarily be right on top of the trade. So it's nice for someone to transition who has a full-time job and doesn't have the time to devote to being in the live trading room every day. So a lot of people have careers and they cannot be in the trading room every day, but they want to make money in the market or they want to transition to a career as a trader in the market and they don't know how to do it. Well, this is a way, if you learn how to use my system with options that you can transition before you quit your job or before you trade full-time. So the purpose of this lecture tonight is to talk about options a little bit and to talk about the kinds of trades that I've been doing here. We're gonna look at some market trades and if you have any questions, you can write them in the room, okay? I recognize some of you have been following me for a while. Again, if you have any questions specifically or if you're interested, you can feel free to write them in the room and we're gonna get going, okay? So this is me. If you've never heard of me, my name is Melissa Armo and I own my own company called The Stock Swoosh. If you would like to email me, you can email me at melissa at thestockswoosh.com or you can call me at 929-3200 Gap and you can follow me on Twitter, Facebook, YouTube or Skype. And I also appear on Fox News and Fox Business Network and a few other networks as well. So I think it's important to start off before you trade, even do anything, risk any money in the market at all to think about what is your goal. Like for me, okay, when I started out, 2008 was when I started trading, my goal was to change careers. I wanted a new career. I was doing mortgages for a long time. I made really good money, but the industry had changed. So this was 2008. So the industry was starting to change 2007, 2008 with the banking crisis. So I wanted a full on different career, okay? And I created that for myself. If you love your career, love your job and you're not looking for a new career, then that's fine. Maybe you just wanna make extra money on the side. Maybe you wanna make extra money for a new car, a new home, a vacation, for retirement. I mean, there could be so many different reasons why you're doing this, but I definitely think it's important to know why you want to trade. If your attitude is, well, I'm doing this something fun, well, yeah, trading is fun, but you are risking money. So therefore, you have to take it seriously. And one of the most interesting things I find out, again, I've had the business since 2012, the Soxwush, there's so many people that trade the market that don't take it seriously. They simply do not take trading seriously. You will never get ahead. You will never, never, never be consistent with your trades. You will never make money consistently for any money at all. You will lose if you don't take it seriously. So that's one of the reasons why I teach the class for people to learn it and for people to understand it, have a system, have something consistent that they can use and utilize to put into practice to make the choices that they will make each day when they take a trade. And if you have any questions, I'm seeing some people sign in late, feel free to just write them in the room. Okay? So why do people find trading so hard? One of the reasons is they lack focus and clarity. So having a system, the purpose of having a system is that's it, that's the clarity, that's the focus. You get up in the morning, Monday, Tuesday, Wednesday, Thursday, Friday, you know exactly what to do, you follow the system. If there's a stock or a trade that fits the criteria for the system, you take the trade, whether going long or short, okay? And we're gonna talk about calls and puts in a minute because that's how we do the options trades. Again, it's the same principle going long or short. But anyways, the system tells you whether or not you should go long or short or maybe do nothing at all, okay? And it gives you conviction. The knowledge gives you the conviction, which is important. It's important because again, going back to what I was saying, you're risking money and that's the serious part of it. Whether you're risking $100 a trade or $1,000 a trade, either way, it's your own hard-earned money and you have to be very selective on the choices that you make. So the strategy I teach is a strategy you can use for everything, which is ironic because I did not create the system that I teach now and have been doing now for, since gosh, 2008. I didn't create it for the purpose of doing anything other than day trading and I didn't create it to teach anybody, but it evolved into something so much larger for myself because the system is really good and you can use it for overnight trading, which means you can use it for swing trades, but particularly options, which we're gonna talk about here today. Now, that doesn't mean you have to stay in the option trade for one to two days or a week. You could take a trade in the morning between 9.30 and 10 and if the stock has a good move, boom, you could get out of it if you want to before four o'clock on that day, if you want to. So sometimes people get in and out in the same day, even if it has a week into the trade, sometimes people take them and hold them overnight, but you can use this system to take trades for bigger moves. All right, and any questions, you can just write it in the room, everyone. So let's talk about what is an option and again, this is just very basic, just so everybody knows. So you may know what an option is, but what is an option and finance an option is a contract, which gives the buyer, the owner, holder of the option, the right, but not the obligation to buy or sell an underlying asset or instrument at a specified strike price. Prior to or on a specified date, depending on the form of the option, the strike price may be set by reference to the spot price or market price of the underlying security or commodity on the day an option is taken out or it may be at a fix at a discount or a premium. So we're doing securities, okay, we're doing stocks when I call the trades. So what is an option, a stock option is a contract which conveys to its holder the right, but not the obligation to buy or sell shares of the underlying security at a specified price on or before a given date. So there's time value that's associated with options. This right is granted by the seller of the option. There are two types of options, calls and puts. So for what I'm doing, I'm looking at both calls and puts. Now a call is a long, a put is a short, and we're gonna talk about that more here in a minute. Now this was a trade I called the other week and we're gonna talk about it in a second here, but it has the stock or in this case, this is an ETF. Sometimes I call it TFs, this is the SPI, okay, this is ETF for the SMP. And I call in the Gap Options newsletter I have to buy whatever stock it is. In this case here was a SPI and in this case, it's either calls or puts. So this was puts, so basically we're shorting the market. The strike price was 292, okay, and expired us on 10, 11, 19. So in an option, you have the ticker symbol, okay? You have, whether it's a call or a put, you have the strike of whatever the stock is, or again the ETF in this case here is the SPI, and then a date, which is in this case the expiration date of 10, 11. Now the market has varied expiration dates. Usually I do things Fridays always on a Friday, could be at a week, could be at two weeks, but either way the market does have various different days. So you gotta be careful if you're ever doing the market to make sure you pick the right day, because sometimes it's not a Friday. You gotta pull the drop down when you pick it in your jigging, okay? But anyways, when you're doing options, there's no overnight risk other than what you're risking for the cost of the actual option. So normally if you do a swing trade and you would have, say you would have bought puts in the market at a certain price, say $292, say you would have paid $292 a share of the SPI, you would be at risk of that full value of the SPI or whatever stock you were trading of the per share quantity. But in reference to options, what makes it very nice for anyone, whether you have a big account or a small account is the worst that can happen in an option trade, the most that you could possibly, possibly, possibly lose is whatever you paid for the cost of that specific option trade. And we're gonna talk about that more in a minute. But you're in control of your money, okay? You're in control, you can take it one day or two days or one week or two weeks, you can even take options trades out for more than a year if you want. Now I'm not calling them long, long trades out, but you could take trades out for a long time. The longer you take it out, the more you're gonna pay though, so know that no matter what you do. But you're in control of the position because again, if something moves against you, the most you could ever lose is the amount that you pay. So there's some kind of certainty in that which actually makes you feel better about holding something overnight. And you can get big moves in the market overnight if you're holding, get big moves in stocks overnight if you hold. Many, many days I will call a trade, the trade may not go that day, that particular day, whatever it is, say I call a trade on Monday and it will then gap into the movement. It will move into the movement on the following morning, meaning you get up in the morning and you see the stock and you see the market or whatever we're in and you'll see that you're gonna be up as soon as the market opens, okay? Any questions here so far? And then again, I'm jumping around, but I'm trying to do a little basic lecture here and options and also talk more specific. So again, everyone here has a different level of understanding about options, but the returns can be incredible simply because you can hold overnight and many, many holds overnight can be really big returns. And that's the benefit of it without having to pay the cost of the stock, dollar for dollar, cash, you don't need it, okay? And also this is in a margin which I'm gonna talk about in a minute, but this is not passive investing, it's your job, if it's a short time a day or a week, you're in, you're out. So even though it's not as quick as several minutes where you're in and out in a day trade, it's still quick when you think about it because it's not like you're buying the stock and you're holding it for weeks and months and years, okay? It's still relatively fast if you think about the money you put up and the amount of time that you're holding it, okay? Compared to like long-term investing because this is not investing, any type of trading, active trading, what I teach people to do is a way of producing income, pulling money out of the market. Again, it could be in minutes or it could be in hours or it could be in days. I mean, theoretically, you could hold a trade more than a week if you want to, but if you're up in the trade, my philosophy is that you really need to book the profits to get out, especially in this type of market because we're in the volatile market, okay? So you're looking for the move, the move, the move, the move, all right? So let's talk more here about what is a call. A call is where you're like betting that the stock price will rise, will rise when you buy a call. So it's like you're going long, okay? You're buying the call and you're saying, you're saying I believe that this stock is going to go higher, higher from where it's at today, all right? If you buy a call, you'd be betting the stock price will rise. What about if you're buying a put? It's like you're shorting the stock. You're betting that the stock price will drop when you buy a put. So you're buying something, but it's called a put, but really what you're doing is shorting your stock because you're saying, you know what? I think this is going to go lower. It is going to drop in price. Got it? Okay? Any questions here so far? And again, this is a very basic analysis here of trying to just give you a little mini lesson about options. So this was 10-7. This was the last week, I guess, or the week before or whatever. 10-7, we looked at the market. Okay? So October 7th is here. See where my arrow is? Is everybody saying? So on October 7th, I called a trade in the spy. This is a daily chart of the spy, which again is the SMPETF. So here is the market. The market on this day gapped down. Now, what is a gap? Again, I teach this in depth in my class, which is this weekend. The market closed up here the night before at a certain price and opened at a lower price the next day. And the interesting thing about this call, which was such a great call is we rallied first, rallied, then we dropped and then boom. This is on the 8th. The stock went down and dropped and had a nice move here the following day. So as I was discussing, this was a good trade because you got up in the morning and the following morning, you took the trade in the 7th and boom. You got out on the 8th. Okay, so this is where you're holding it overnight. So the trade was this one here. To buy the spy put, strike 292 expiring on the 11th. And again, when I give an expiration date or anything whenever you're doing them yourself, you don't have to hold it till the day. In fact, I'm not saying you have to do that at all. In this case here, and I'm gonna go back, you were up here from the time that you took it till the next day within 24 hours. And this is a nice trade. This is a nice move. Again, you're playing it in the direction of the selling, which again means you're buying a put. So you're betting the market's lower. And this is where it was called here on the 7th. Move down here in the 8th. Any questions here so far? Now, if you had wanted to short the market, just as a day trade, yes, you could have done that. You could have done it on margin, but it would have cost you more, more money. You would have had to have more money in your trading account with the broker than you would have needed to do the option. And again, this is not cheap. This is $202 if you wanted to day trade it. But when you look at the cost, and I'm gonna go over three different risks here for everybody. Advanced trader risk, intermediate, and beginner. I'm gonna go over that in a minute. But the cost to buy one contract, for example, of the spy was only $1.80. So theoretically, you could have bought one contract to pay 180 bucks. And you couldn't have gotten one share of this $480 because it cost $292 a share. Does everyone understand? So you see the benefit here of being able to capture a move like this on the chart and something that moves big like the market and to do it at a lower cost by doing it as what? As an option trade, okay? Now, any questions here so far? Is everybody with me? Is everyone awake? I'm not getting any comments or questions in the room. I wanna know everybody's there. So I'm gonna go over three different risks because I think it's important knowing, knowing that you could trade with a small account or you could trade with a big account. The amount of money that you risk per trade is 100% up to you. Should be based on your experience and it should be based on the size of your account, the cash size of your account. Because remember, when you're trading options, it's based on your cash, okay? Because you're not trading on margin. So let's go over each one here. If you were trading as an advanced trader risk, someone that's experienced and has cash in the account to take the risk, the cost, again, $1.80, number of contracts, 40 contracts. The risk on 40 contracts would have cost what? $7,200. Now this is remember, taking it on the seventh and exiting the trade on the eighth. Exiting it at an exit of $4. The profit on the trade would have been what? $8,800 with a risk of 7,200. That's a really, really nice profit. That's more than 100% of the amount that you risk within a 24 hour period. Now I'm gonna go back and show you this on the chart again. That's taking the trade here in the seventh, getting the move into the gap and the drop off here and exiting on this day. Now I'm gonna take it over here to the right so you can see when you took the trade, it was above the strike. It dropped into the strike in the morning. So the stock open, and again, this is the market, but I'm saying this particular trade, it opened underneath the strike. So it was in the money as soon as it's open on the day. Rally dropped. Okay, does everyone see that? So that's why this was such a beautiful, beautiful, beautiful trade. It also happened rather quick. A trade from one day to the next is what I consider a pretty fast movement in an overnight option trade. But I did call that only out to the 11th. So when I called it on the seventh, I knew it would have the move that week. Now, if you're an intermediate trader, somewhere where you can maybe not take as much risk as 7,200, but 3,600, this is still a good risk, which is 20 contracts, this is essentially 2,000 shares, really, of the market. But again, you're not doing it on margin. You're doing it as an option. So the cost is only $1.80 here on this trade. Risk 3,600, exit four. How much would you have made? $4,400. Again, more than 100% return on investment within 24 hours. It's getting the direction right, getting the stock pick right, getting the move, getting the momentum. The momentum came into the gap, and then followed through in the live debt, and that's something that I'm very good at spotting the scene, okay? And again, write any questions in the room. It's quite a group here tonight. No one's talking. Then the beginner trader risk on this one here cost $1.80. Again, if you bought five contracts, risk is what? $900. Exit four, you could have made $1,100 risking 900. But you really could have taken only one contract and risked $180. And again, beautiful, beautiful move, beautiful trade. Any questions here so far? So I was talking about contracts. What is a contract? Options are traded in contracts. So it's different than shares, but it's the same philosophy, okay? Where you're able to take a position in a stock and make money if you can do it right. And that's what I teach people how to do. Each contract entitles the option or buyer owner to 100 shares of the underlying stock upon expiration, preferably before expiration. I don't advise people necessarily to hold to the last debt. Thus, if you purchase seven call option contracts, you're requiring the right to purchase 700 shares, okay? For every buyer of an option contract, there is a seller, also referred to as the writer of the option. So options are traded in units called contracts. Similar concept just called something different. Each contract entitles the option or buyer owner to 100 shares of the underlying stock upon expiration. So one contract, for example, is equal to 100 shares. But again, you're paying the cost, whatever that cost is, and it varies depending on the stock. So one contract is equal to what? Like you have 100 shares. So if you paid a dollar for one contract, you would cost 100 bucks, you'd have 100 shares. If you sold it at two, your profit would be what? 100 bucks, okay? And contracts equals 1,000 shares. One contract of Amazon, for example, may cost $5. That would be what? $500 cost. Whereas you could never buy anything, anything at all for $500. You can't get a quarter of a share. You know what I mean? If you were day trading or a margin. So this is what is appealing about trading options and particularly for people who have small accounts. 100 shares of Amazon, for example, may cost $1,600. And this was a while ago, but now it's higher. Any questions so far? Is everybody with me? I see some people coming in and out. I don't know if they need help, Kathy, with hot com. Anyways, let's go over the QQQs. So this was another move that I called, again, boom, boom. Take it, get in, get out, get in, get out, on one day. So this was on this day here. Again, the market closed, gap down, boom, dropped into it, gap down again, and fell. So that was on the eighth. Trade was called on the seventh. So again, here's the seven. Buy the Qs, I sent this trade out for the options newsletter to buy the puts, the QQQQ put strike 188 expiring on 10, 11, 19. Now let's go back and look and see what that did. So I called that here pretty much right at this number here, right into the open of 188. Boom, the next morning the stock dropped was under 187, so the stock was a dollar in the money right a ways. So if you took the trade I called on the seventh, boom, got up in the morning, stock was in the money as soon as you went into the open and then you get the drop, okay? So this is again, something really nice and if you have a job and you can't be in the room, you put the trade on, you can watch it on your phone see if it's moving that day, if not, you get up in the morning, check it in the morning and you put an order in to get you out or you put an order in to get out or watch it that day before the close. So again, I'm gonna go over three different risks. Again, you can start out as a beginner, then move it up as an intermediate trader, then grow your account and move it up to advanced. I suggest that people do that. No one has to start out right out of the gate risking $7,000 on a trade unless you want to, okay? But you have to know what you're doing and I think it's very, very important for people to understand the process and this is what I teach in the class. So for the advanced trader risk, again, such a good cost for this trade, $1.75 to buy the cues which is the market at normally something if you day traded it, that would cost $188 a share. I mean, these are just beautiful, beautiful trades. So cheap, okay? And also mainly, because the bias on these particular days was, guess what? Not in the direction that I called it. So this was an expert Melissa Stockswish call. That's part of the reason this was so dirt cheap. Number of contracts, 40, risk 7,000. Again, your risk, whatever you risk for trade should be the same on every trade but this is advanced trader. Exit $3, profit five grand. Again, this is super duper great because you take it on in one day and you exit it on the next day within 24 hours. And then what happens is the cost that you paid for the trade is back in your account and the profit by the next day. And then you use that money to take another trade. Intermediate trader option risk cost $1.75. Again, it doesn't matter how much you take it's up to you. 20 contracts, remember, is what? 2000 shares, that's a lot. That's a lot of the market. Risk 3,500, exit 3, profit 2,500. Just in one trade, that's a really nice move. This was not 100% turnaround but pretty close, way more than 50%, okay? So I give people goals, I say you should be looking for one over if you can get it or 50% to 100%. But when you get a move or something moves all day like the market did on this particular day, I'm gonna go back, I think it behooves you to get out because the market or any stock right now in this environment is volatile. And what do I mean by that? Means it has a big move one day in one direction and a big move the next day in the next direction. And you can quite frankly play them both on different days but it is very, very important to get it at the right time and get out and book the profit, okay? And that's where the timing of taking the trades is critical and particularly with options. There's a beginner trader option risk cost $1.75. Contracts four, risk is 700. Exit is three, profit on this one here. Again, a risk of $700, profit is what? 500 bucks, that's good people. That's a good solid trade. Alan is asking a question. You guess you missed something, you're doing spreads on daily and weekly. I'm doing exactly what I showed you here, this is the trade. I'm calling the trade for whatever date I'm calling it. I usually do Friday expirations. It could be the week of, it could be two weeks out. Okay, we're going over this particular trade here in the QQQs. I don't have any set thing. It depends what I want to do, how fast I think the move is going to occur. In this case here, I saw the move would occur on that particular week. Didn't seem to make any sense to call it out to the 18th so I called it out to the 11th but I called them on for Friday expirations. Okay, so again, getting back to the benefits of doing options versus the equity trades, it's about share size versus the contracts. So that's the thing. When you're looking at something and you're like, okay, well, in order to day trade the spot which costs 290 some dollars a share on margin, now you have to have either a proprietary day trading account or a retail trading account. You have to have a margin account. You have to be able to take that position. You would need for 100 shares, 29,200. And again, I'm just estimating the value of 292 to give you the spy example to take 100 shares of the market but you wouldn't need and to worry about margin. You would have just needed the cost of the trade which was $1.80 which could have been one contract for 180 bucks which is 100 shares versus 100 shares needing 29,200 even in a small account on margin, okay? Does this make sense? So if you're currently trading, you understand margin. If you're new to trading, I'm gonna explain in here a little bit what is margin. Margin is a difference between the total value of securities held in an investor's account and the loan amount from a broker. So brokers are giving you margin when you set up a margin account and everyone that day trades actively in and out, in and out, in and out actively many times a week, many times a day trades on margin. Even big, big traders trade on margin. Some trade on four to one margin, some trade on two to one margin. Buying a margin is the act of borrowing money to buy securities. Again, which many traders do even with big accounts. The practice includes buying an asset where the buyer pays only a percentage of the asset's value and borrows the rest from the banker broker. The broker acts as a lender and the securities in the investor's account act as collateral, okay? So do you need margin to do options? As I've been saying all the lecture, no. So this makes it very, very, very attractive, okay? Because instead of needing 100 grand to day trade something like maybe the spy or Amazon, all right? Cash, I'm saying, or even on margin, you don't, you could just trade it even if you had only $2,000 in an option account, which is the minimum requirement for most rock brokers to open an options account, okay? Now that being said, if you open up an options account with $2,000, you should be taking a beginner risk. No matter what, all right? You never wanna risk your whole account in one trade. Make sense? So if you have a small account, you can trade options at even stocks that are expensive like Amazon, Google, Apple, because you only paid the contract price, not the cost of the stock per share on margin. And you can still make money. And you can still make good money, all right? But it is about the right pick. It is about getting the stock in the right direction. It's about getting it into the momentum, all right? Now let's talk about another one here. And this was one where you could have actually made more money, so I'm gonna show you this call here that I made, but actually you could have held this. Now I went out of town at the end of last week, but this actually jumped up really on Friday here. In fact, DD, I see you in here. I don't know if you did Apple. There were people that made more money on this that held it. And this is a good example where sometimes you can hold something a little bit longer. But I called the 225 calls for Apple on the fourth. Okay, I called them way, way, way before this jump happened. I'm gonna go back, let me get this day right in here, the fourth. So I called this here, and this had a nice little move. And this had a nice little move in here, but it had a big move. Look, the very last day, the very last day, the stock rallied huge, but I will show you here that this day it rallied up almost to 230, but it actually went, and this is crazy, all the way up to like 238 in the time that I called that trade, the 225, it was a 225 strike. So it went right into the boom, right into the strike and above it, into the momentum, you could have got out or you could have held it even longer. And again, I don't necessarily advise people to hold it through the last day, but in this case it was through the strike and in this case here it would have paid you more. But here was the one for the first exit. Advanced trader, again, cost was $3 on 25 contracts and $7,500 risk and an exit of six, and this is the early exit. This is the early exit on this, 7,500 profit, again, in, out, in, out. And this is 100% return on investment, but this was really big if you held it. I know some people did because they emailed me, but again, you're up money 100%, but this went boom, that went really good because it was so, so, so, so, so far for the strike. Okay, you know, $12, $13 for the strike. The strike was 225. Intermediate trader option risk cost was $3 and 10 contracts risk is 3,000. Exit six, profit 3,000. Again, you take the trade, you take the risk, it gets the movie, get out. All right, but I want to show you here how you could have even made more on this. The generator trader risk, again, cost $3. You could have bought two contracts would have been a $600 risk. Exit at six, profit $600. So this was the first move, exit. But again, I want to show you how sometimes you can hold them for longer. What you could do, and I don't do this, but what you could do is you could take half out of the first move and then you can hold the rest for a bigger move. Okay? Any questions here so far? So how do I make these calls, whether they're calls or puts, how do I make the trade calls? How do I see the direction to take something? I'm using my system. I use my system. And it's the same system that I use for day trading actively as well. Excuse me, any questions here? Well, I'm going to take a sip of water. Now, for those of you that know me, I run the live trading room every day. I live in New York and I run it money through Friday and we're usually trading actively in the morning, day trading in and out between 9.30 and 10 a.m. I do not call options trades in the day trading room. The options trades I call in a newsletter, just like I showed you on the emails, you get the trade emailed to you and when you get the trade, you take the trade. The options newsletter is a separate subscription service that I offer. But if you wanna learn how to do the trades yourself, if you wanna learn how to get the stock picks yourself, you would take my class and learn a system that I teach, which is how I'm calling all the trades, options and day trades, okay? And I use a criteria, why we'll look at a daily chart of a stock and determine if it's a long or short and call it accordingly. If it's a long, I call a call or we go long in the room, if it's a short, I call a put or we short it in the room. And sometimes I'm doing both in the same ticker symbol in both, okay? But the newsletter for the options is separate from the trading room, but the system is the same. So you have to decide what is your time schedule? Can you day trade? Can you trade in the morning in the room? Can you, can't you? Maybe you can't, you have a job and you can only do the trades, getting them to the email, okay? And you do the options trades. But this is just such a great way for you to become more financially independent, transitioning because if you're in a situation in your life where you feel like you're not making enough money or you really wanna change careers, which was the reason that I started trading, you have to take active steps to change where you're at with your life. If you're not happy with your career, you must take active steps to do it. Actually, I see you in the room here, Eric. I did get your email today. Eric has a full-time job, he did the class and he's been transitioning doing the trades. Actually, he's doing the trades himself now and Eric did the class. Eric, I think you made a $700 today. Is that all you made today? So Eric has a job and then he does the options, but he did the class. So he knows how to do them himself and he's doing fairly well. So you go through this process, but you have to take steps to do it. I find that a lot of people that attempt to trade the market never really take serious steps to learn how to do it. They're like, well, I like doing this and they come to the webinars, I'm doing like tonight to gather information, but they do it for years and they never really fully commit themselves to trading and all along the way they're trading and risking money in the market, but not really getting anywhere. You must learn how to do this and you must do that in order to get good at it. And when you get good at something, then you will start to make money. So I'm really good at what I do because I only do one thing, which is this. I use it in different ways, but it's only one system. And I've also been doing nothing else, but this for a long, long time now. So we're going on 12 years. So the longer that I'm doing this, the better that I'm getting. The longer that I read charts, the better I'm getting at reading the market. The longer you do something, the better you get. But it is about sticking with that thing. And if you are all over the place, doing a million different strategies, well, it's no wonder if you're not making money or if you're losing. Many people, they jump around. I've had people do the class leave me and then come back and say, I don't know why I left. I wish I wouldn't have left. I was asking, do you prefer to sell over buy? If we're talking about doing options, I'm always buying. I'm always buying puts or calls. Either I have conviction the stock is higher or I have conviction the stock is lower. And that's how I do it. And that's how I look at it, okay? And again, you have to look at it really in a way like you were running a business. And like Apple's a trade you could have held longer. Yes, you could have made more money. But what if you would have looked at it and said, you know, this is like, I have to look at this and say, well, you're up this much. You're up 100% like, are you not gonna get out? And I think one of the interesting things is that people will see trades that I call that are on the letter in the room and see some of them go crazy birds, like really, really big, not hold them. And then the next time wanna hold it and then it flips around and then they're like, oh, I shouldn't have held it and they change what they do all the time. One of the biggest things I think, again, for my own personal success is it's consistent, consistent, consistent, consistent, consistent, okay? Don't trade if there isn't anything good. Don't take pot shots. Stay consistent with your risk per trade. I'm not saying that you have to say, well, I'm gonna risk $500 from now and to the rest of my life. But if it like earning season starts tomorrow, whatever amount of risk you determine, like that's it between now and the end of the year from this period until January one, like you can't change your risk every day, every week, okay? Like you could evaluate your risk per quarter, but not every day, not every week, or your results gonna be all over the place, okay? Same thing with your exits. If you say I'm getting out between 50% and 100% then fine, or you're holding everything and then you get the big moves when they happen like an apple, but then you're gonna lose in some other ones that don't have the big ones. Do you follow what I'm saying? So again, it has to do with the consistency, but you can do this. You can learn how to do it. I'm developing people into some really, really good traders. And some people have made a lot of money with me this year. Now I'm really on point. I'm really on point this year. I've never, never called things better than I have this year. But again, it's time, 12 years. So it's just, it's one of these things where I've just stuck with it and I've developed the skill set. So if you're looking to focus and day trade, it's in the morning with me. If you're looking to do the options, I'm probably calling the trades a lot of times in the morning before the open, you'll have it. You can't take the trade until in the open. Now you could put in an order and just estimate what it is to fill it or you watch into the open and you take it. If I call somebody, if I send out the emails like at seven AM, I can see the gap. I can see this is gonna move. I call the trades, I send the emails but you can't take it until the open. Then you watch into the open, put the trade on and then that's what you do when you watch it on your phone or check it at lunch or whatever, okay? Any questions here so far? So Alan's saying, wow, I missed what that was about. What did I say that you said wow to, Alan? Anyways, if you wanna transition for yourself, this is a conservative way to do it because again, you don't need a margin account. You can start out small. You can start out with a small account, okay? And you can learn how to do it as you're progressing and you don't have to necessarily block off the time to be in the trading room every day so you could still be at work or wherever you are, whatever you're doing. Alan is shocked that I'm buying calls or puts. I'm not sure why. I'm not sure why but yeah. But anyways, whenever you're trading, okay, you have to look at it when you're doing it that it's you're pulling money out. Like a lot of people are in this long, long-term investing thing, like that's all well and good but it's really about producing income. So how are you gonna do that? Take it get out, take it get out, take it get out when you're up, take it get out when you're up and then again you gotta be consistent about that, okay? Makes sense? So you can take the right steps in the right direction if you wanna get there. It's just about whether or not how serious you wanna be with it. And I think, I've had the business like I said since 2012, there's a lot of people following me. I think that wish that they had gotten involved years ago and did other classes. I was talking to a guy the phone two weeks ago and he said, well I did a bunch of other classes. I wish I'd done yours and I didn't. I said, well you can still do it. I mean, it's cheap is not only the best way to go. In fact, cheap is probably not the best way to go. So you get what you pay for and that's the reality of life. Why have a good system? It does cost money to sign up for the newsletter. It does cost money to take my classes. It's the information and it's my time and my knowledge and my skillset. But I have developed people into good traders and I'm very proud of that. And I've gotten better over the years as well as calling the trades and seeing things. But it's like somebody, like if you played a sport, the longer you play the sport, like golfers, the more they play, the better they get. So think about the things that I said. Now, what will you learn in the class? You will learn a 26 point rating system. And I'm looking for gaps. I'm always calling the trades based on the gap, based on the rating system of the gap. So I'm rating it off the daily chart just like I showed you in the Q's, the spy and the apple. So it measures the gap by rating them in the daily chart to find stocks to trade that have, number one, a high probability of directional bias for the entire day and preferably follow through. A big move on the day or the next day. I'm looking for something fairly quickly. You know, one to two to three day move. Early confirmation of the bias, I wanna see it set up pretty quick. First half an hour, first hour and precise entries and again, good risk to reward, which to me is 50% to 100% on the options, okay? So in day trading, you're looking, how do you make more money? It's always about the sizing. So with sizing of contracts, you size up, you're gonna make more. You take 20 contracts, that's 2,000 shares. That's a lot different than taking two contracts. You have to have the cash in the account. Again, it's not on margin, but you still have to have the cash in the account and you still have to know what you're doing, okay? I mean, you have to be consistent to be successful. So in my class, I teach my system, it's called the golden gap system. It is a 26 point professional bearish gap rating system. The purpose of the system is to help you evaluate which gap to trade each morning using a checklist. This checklist tells you what to trade, when and in what direction. The 26 point checklist predicts directional bias and a stop. And that's what you did today, Eric. You did the crowdfund. Is that what you did, the CRWD? I think that's what you sent me. So he rated the gap and he did it and he shorted it. So again, this is something that once you learn how to do it, you can do it yourself. You won't need me, but I am here to mentor you through the process, at least at the beginning of where for as long as you need it, as long as I'm teaching people and calling trades. But it's all based on one strategy. One strategy to be successful in the market, however you wanna do it for the timing. You do not need a general overall broad-race view to make money, though. Tons of people have that and fail. So many people, and again, I appear on television, there's so many people that talk on and on and on and on about fundamentals. That doesn't make you any money at all, okay? While it's great if you have the fundamentals back up the technicals, the most important thing is the price action, okay? That's what tells you. That's what tells you where it's going and what's what. So if you learn how to read the big money in the price patterns that are happening in charts and gaps, you don't need to do anything else because if your reason for doing this is to make money, then that's all that matters, okay? That is all that matters. It's like whether somebody says, well, this is gonna go to this percentage or whatever, that has nothing to do with it. If you risk $500 and you're up $500, that's all that you care about. And can you duplicate it? Can you duplicate it over and over and over again? Alan, you can use whatever broker you want to use. You can contact any broker you're at right now or any broker, it doesn't matter. I don't have any affiliation with anyone. You can go wherever you want. You need charts to look at the charts to use the system. And again, you have to find out if the broker has options available to trade if you're gonna do options. But I teach it in one system in one class. So we're looking to make money pretty quickly, all right? You can do this from home or you can do it from your office. If you wanna transition it into a career, I say take your time to do it, to learn it. And again, we're usually looking to enter the trades in the morning. For the day trades, we enter and usually exit them in the morning. For the options, we're usually entering them. And then you will look for the exit either that day or the next day or two. Because I'm usually calling them within one to two weeks of the trades, all right? So again, the class is called the Golden Gap course. It is this weekend, Saturday and Sunday, October 19th and 20th, 9 a.m. to 5 p.m. eastern time. Cost of the class is 64.99 US dollars. The class is online. You can be anywhere in the world and take it. Deadline to sign up is Friday the 18th. So I know it's $6,500, but it's all weekend and you will learn the system and you can use the system for day trades. You can use the system for options, whatever works for you. It is an investment in yourself if you come and take my class and you will learn how to do this. And even if you're someone that's been trading for a long time, you don't know what I know because I created the system myself. And one of the reasons I've so accurately called the market and in trades that I've called like I showed you here tonight is because I have such a high level understanding of price action because I read gaps. And it's interesting. So Friday I was off because I was out of town and if you were watching the news on Friday, everyone's talked about the market and the market had such a big move and the market was higher and rally and everything. When I came home on Sunday and I looked at the chart, I said, oh my Lanta, because I saw what happened in the market on Friday and I would not have said what people were saying on TV if I had been on TV Friday. Now I wasn't, I was out of town. But it's very interesting. The way that I look at things is so unique and so specific and it absolutely gives me an edge. And if you come and you learn what I know, you were gonna have an edge in your trading and your ability because you're gonna learn a skill set that you're not gonna learn from anyone else. And of all the years now I've been on TV which is about three years and all the people I've encountered, many, many, many, many 99.999% of the people have no clue what a gap is. Don't understand what I know about technicals and don't even think it's important and look at things totally, totally wrong. But it's about what you're trying to get out of this. What is your goal? If you're doing this just haphazardly, expect haphazard results. If you wanna take it seriously, you can make real money. You gotta learn how to do it. So this is Netflix, Netflix is out this week. No idea we'll be getting it and I won't know until I see it. But Netflix is out I think Wednesday night, okay? I'm offering the trading room free to the end of the year with the class this weekend. So if you sign up, the tuition fee is 64.99, offer expires Friday. It's a great time because there are any season starts tomorrow and you would get the trading room free to the end of the year, okay? Any questions from anyone about anything? Anything at all? Anything you wanna ask me? We have a couple minutes here. You go to my website, check it out. If you want, email me here. I'll put my email in the room. I mean, I recognize some of the people on here you've been following me for a long time. I don't know why some of you are holding back. I mean, some of you have been following me for, I mean for seven years. The trading room is only eligible for students to sign up after they have taken the class. So in other words, if you take the class, you get the room free to the end of the year. After that, the room is 39.99 a year or $500 a month. You can go month to month or pay for the year upfront. You save if you pay for the year upfront, but you can't join the room until you're a student. If you wanna sign up for the options newsletter, there is no prerequisites. You don't have to learn the system. You can sign up for the newsletter alone. It's $59.99 a year, so six grand for the whole year. You get every trade emailed to you for the options trades, not the day trades, but the options for one year. You wouldn't learn the system, but you can sign up for the letter and just get the trades. Eric, how are you doing? Good, a good day. Eric's a student. Joanne, I see you here too. I did email you back last week. Eric wants to quit his job. Well, you're getting there. You're getting there for sure. Listen, if you have any questions, email me, Melissa, at thestockswish.com. If you're interested in the class, email me. And if you're interested in the options newsletter, email me, 39.99, yeah, four grand for the year, or $500 a month. You can just go month to month. Hey everybody, have a wonderful month. That's cool, thank you. Have a good night. I actually remembered to boot my other computer so I won't echo tonight. I wanna thank you all for coming out tonight. Kind thanks goes to our host, Melissa Armo. Folks, you gotta get in there and try all that room. Her customers are happy campers. They're a happy group. Didi just joined us again. She lives, I believe, down in Brazil and she cannot stop singing Melissa's praises. Those testimonials are 100% true. I don't go out on a limb and recommend one of my presenters over another unless I really know the customer base and I really know the customer base and they really are happy and they really are making. So it behooves you to check it out. And that's all I'll say on that. You'd be crazy not to. You all have a great night ahead, a good day trading tomorrow. Best of luck out there. Goodnight now.