 Welcome, everyone. Hopefully, everyone's having a good day today. Let me know if you can see the slide and hear me. If you have questions when we go along today, you can just type it in the room. And today, I'm going to talk about my trading strategy. Go over a few trades that were in the last month. And just in general today, talk about this concept of trading and working from home. Because a lot of people right now are home, and it's actually a very good time to think about trading. And this can be something that you do on top of your regular job, or it's something that you could do for a full-time job. Now, don't mix up trading with investing. Trading is not investing, OK? Trading, it is income generation. You're chunking it out. You take a trade, you book the money. You take it, you book it. That's what trading is. It isn't long-term investing. Now, you can actually use my strategy for long-term investing, but the risk amounts will be much, much different. And obviously, the targets and time horizon will be different as well. So today, we're going to talk about active trading in and out. It's income generation. Again, whether you're doing this part-time or full-time. Any questions before we get started here? I see Chris is typing something in. It's stuck. I don't know if Chris had a question. Anyways, welcome, everyone. My name is Melissa Armell, and I own the Stock Swoosh. So today, we're going to talk about how you can train the market for a living if that's something you want to do. I wanted to change careers a long time ago. I was doing mortgages, and I found out about trading. I had no idea when I started, though, what I was getting into, which is probably the case for many people when they start to trade. They don't realize the ups and downs of trading the challenges there are. And I didn't know, at the beginning when I started, how important it was to find a set strategy. So I kind of figured out very early on that trading gaps, which is what I do, which is what I'm going to talk about today, was something that you could make a lot of money doing. Why? Because stocks, when they gap, particular gaps, not every gap, but they have big moves. And as an individual trader, the better, the bigger the move that you can get, the more money that you can make. So a lot of people work really hard at trying to become successful and never quite get there with this trading thing. It's something where, yes, you can work hard, but it doesn't necessarily mean that you're going to make it. And I think a lot of people waste time on certain indicators, strategies, and they never figure it out. So for me at the very beginning, I was very focused on one thing, which was making money. It's great to have all kinds of knowledge and information about the market, fundamentals, everything. But ultimately, I really just cared only about making money. And that is really how I got into the gap trading. So in order to make money, you have to be consistent. So finding a strategy that works is a way to stay consistent. Some trades are going to lose. They lose for me. Some trades lose for everybody. But that doesn't mean that you don't make money in the end. You have to have more winners than losers. OK? Thanks, Kathy. I'm just seeing Kathy right in the room. Chris's typing is still stuck, though, Kathy. Anyways, it's very important to have a strategy in order to trade, OK? And one of the nice things about day trading specifically, and this is whether you do equity trades or options trades is you can do it from home. So I work from home. I live in New York. Right now, of course, that's very convenient due to the fact that a lot of businesses are shut down. And a lot of people are working home that don't normally do work from home. So for me, it really has not affected me at all with my job. And obviously, I trade the market and the market is open. And for a while there, it was funny because I thought they might close the market. They were talking about doing it. That a couple of weeks ago, the market was being halted. But luckily, they did not close the market. But you can make your own hours when you do this. For me, I like to focus in the morning, OK, that first half an hour, that first hour of the day. Now, this doesn't mean that I won't take trades later. Sometimes I do. It doesn't mean I want to hold trades a little bit. But if I don't get into something by 10 AM, then I'm probably not doing it, OK? So that first 30 minutes is the be all end off for me to at least take an entry. I may or may not get out of it by then, or you couldn't get out of it by then if you want to. But I'm really looking to get in within that first half an hour of the day. And again, obviously, if you want to trade for a living, a weekend's off. Market's not open. Market closes at four markets closed right now. And this is only if you would even trade all day, OK? Any questions? Again, you can write them in the room. So when you work for yourself, you really can have unlimited income potential. So then you say, OK, well, then how can I do this and make a lot of money? Well, it all determines by your risk. So I would take an average. Say you want to make $500 per train. You should be risking about $500 per train. If you want to make $1,000 per train, you should be looking to risk about $1,000 per train. So it's one to one, one to one whether you're doing day trades or options. So when you're taking it, you're trying to figure out what to do. You base it on targets, which I teach in the class, that are targets that are on the chart, which is based on technical analysis. And we'll talk about some charts today. But then also, it's based on your money management. Because if you're going to do this for a living, then you can't let the profit dwindle away from you. Again, like I said earlier, you have to book the money. It's OK, I think, sometimes to hold things for a bigger number, a bigger profit potential. And we're going to go over some of the trades here that really had some nice moves. But it really all depends on the quality of the gap. And how do I determine that? I determine that based on the reading system, which is what I teach in the class. But as far as what I do, I mean you have to be willing to take risk in order to train. And I know when people come to me and they ask questions about the class and trading and all these things, I can tell from their mindset whether they have a risk-oriented personality or not. Training is not for everyone. You have to understand what is involved with this. You have to be willing to take risk in order to trade. If you are, then it can pay off for you. But you can't make money in the market without taking risk. And you're also not going to learn my system without paying me for the class information. So you're paying me for two things when you sign up for my class. One, the information, and two, my time. So there's no guarantees whenever I take a trade. However, my philosophy and my mindset is always that I believe that every trade that I take is going to work. So yes, I'm taking risk. That's why I put in a stop. Otherwise, I wouldn't put a stop in anything that I do. I always put the stop, and the stop is like the insurance. It's a limit order stop. It's like the protection insurance in case the trade doesn't work. But every trade I take, I believe, fartedly, that it will work. Otherwise, I wouldn't take the trade. So I never look at any trade like a 50-50. I don't look at it like a crapshoot. I go fall on into something. But I do use stops. And again, like I said, that's like the insurance. So if you're into this year now, three and a half months into the year, it's hard to believe. Crazy that we're stuck inside, and it's almost May. But if you're not where you want to be at this point, first quarter is done in for the year, then you have to think about, if you're on track to meet your goals and achieve your goals as far as trading, if you're trading or if you're not, then what can you do to improve upon your results for 2020? Or if you are not trading it off, this is something that you're thinking about doing because you want to earn more money, that's a different situation as well. So you have to think about it in that mindset. What are your goals for 2020? Are you on track to meet them and achieve them? I think it's been difficult for certain people that are in predicaments right now who are laid off, unemployed, working from home that are working from home kind of part-time, but not as productive as it would be in the office. And again, the nice thing about trading is really that you are independent and you work for yourself. So how can you rely on yourself while you learn how to do it? And you say, you know what? I don't want to ever be in a position where I have to rely on somebody else again. When I was in the mortgage industry, it was 2007 and 2008 and that's when I decided that I wanted to find a new career. The industry was collapsing, had nothing to do with me, nothing to do with the companies I was working for. It was just a matter of circumstance. And I realized then that I didn't want my future earnings to be a predicament of something that was completely out of my control. So the nice thing about what I do now is as long as you have stock market trades, I'll always be able to trade it. And I am lucky that my system, my gap rating system is not dependent on set market direction. In other words, it works when the market's bullish or bearish, okay? And again, if you have any questions, just write it in the room. Chris, your question though is still stuck. Anyways, getting back to what I was saying, success in the market is about mastering a skill. Like I have a skill set. I have a skill that I use. It's a very special skill. So on a practical level, you come, you take my class, you're gonna learn the foundation of what I do. And then you apply it day after day after day by trading yourself and you will gain a skill set by applying the information that you learned in the class for me. So at a practical level, you learn my information so that you can use the skill yourself to get to the point where you have a skill set like mine that takes time. And until then, you just take the trades that I call in the trading room or if you join the options letter, okay? But the way to make profits is by mastering a skill. For me, it's reading price action and basically actually predicting price action, predicting where something is going to go before it goes there. And actually, let me pull up the market really quick here. Hold on one second. Since I'm gonna just look here because I didn't see exactly where we closed. Can everybody see market here? Let me blow it up, the spy. So my prediction today was that the market would fall. The market did fall today. Now, what do I do in the morning? I get up in the morning and look at anything, a million things, as many things as our gapping. This is the spy, this gap down. Close the night before on Friday, a 27820 boom. Open in the morning today at 27714. The market gap down. Actually, we could have shorted the market today. We did not, but we could have. Anyways, this was a gap down that you could have shorted. So I predicted the market was lower today and we did fall. Low in the day today was 27141. So that was a decent move for the market. Market moved almost $6 down in the day. See that there? So what is a gap? A gap is a difference between the close and the open. So there are gap downs, which is what happened here today. And then last week, there was a gap up in the market Thursday to Friday. Market closed at a price and opened at a higher price from Thursday at four o'clock to 930 in the morning. So this was a gap up. Today was a gap down. So I get up in the morning and look for gaps to play. Whether longs or shorts, but I do prefer to go short. Okay, everyone see that there? So part of what I do is predict where is this going to go today? And my prediction today was the market would fall and it did and you could have shorted it or you could have bought a put. And we'll talk more about options later. But basically options is just another way to trade a stock. Is everybody still with me? Can everybody see the PowerPoint again? Anyways, large moves happen in the first 30 minutes of the day in gaps. Not all gaps though, are playable up or down. I qualify each thing I do in a day. Based on a rating system, I call them golden gaps and that's what I term my system. And again, I'm looking to take the trains in the first 30 minutes of the day. So my golden gap is a rating system. I go through the checklist each morning. Now, if it's a busy, busy morning, I may rate 10, 20 things. If it's not that busy of a morning, I may rate one or two, okay? So I look at 26 points in the daily chart of a stock. The rating system is a checklist. Boom, boom, boom. The checklist tells you what to look for in the price of the stock. If you came and wanted to learn from me, this is what you would learn. This is the meat and potatoes of what I do. It's how I determined that the market was assured today. CCL, okay? BA, which we played a million times, sold off today. The points predict price direction correctly when a stock is gapping. And again, I'm only doing gaps. So if something's neutral, then I'm not doing it. Linda has a question, go ahead. So the points tell you where the money is going because that's how you're gonna make money because you are not gonna move a stock. Is the stock getting bought? Is the stock getting sold off or shorted? And it matters because you need to be in the right direction. It's a very, very basic concept, but you will not make money in anything that you trade unless you're in the right direction. If it's going up, you have to be long. If it's going down, then you need to be short, okay? This idea of people playing things in opposite directions and scalping them is a big no-no. And I will not go long and short the same stock on the same day, that's a no-no too. You can't have conviction that something is a long and a short on the same day. That makes no sense, okay? Shall you either believe that the stock is moving higher, you're predicting it's getting bought or that it's getting sold off, okay? Kathy, I don't know if Linda's having problems her typing stuck. Anyways, golden gaps have 80%, basically the move with the first 30 minutes of the day, which is very, very interesting. Now, a wildlife will hold something longer occasionally. And again, this is mostly for day trades, not options. It's really, that morning is the good period. I call this the money move. You take it, you get out. You take it, you get out. You take it, you get out, okay? And you just do the play and you're in and out and done if you're doing a day trade. Now, if you're doing an option, you can hold it. You can hold it overnight, one day, two days, a couple of days, if you want a bigger move, if it hasn't gone yet, it may be not up that much. You may want to hold it. So that's different. You can hold options overnight, but the equity trades were in and out within the day. Is there a camera? What do you mean a camera? Can you see the arrow here, Linda? Linda, I'm talking and pointing with a pointer at a slide, can you see it? There's not a camera with my face, if that's what you mean. Can everybody see the PowerPoint? There's no camera in my face today. Kathy, can you see the slide? No one's answering me, so I'm assuming that everyone can see it. Try to help, Linda, Kathy. Anyways, let's talk about Boeing. So getting back to this concept of prediction, I don't have this Boeing chart in here, or I'm gonna go through a couple trades and I'll pull it up on the chart. I called a put, a put in Boeing, which means basically that you're buying a put so you are, I was predicting that the stock would drop. So I called the 135 strikes in Boeing that expired out the following week, had the move cost wasn't cheap, but again, you can risk whatever you can afford. So the cost was $8. What if you can't afford 10 contracts, which was eight grand by one? One is a cost of $800, guess what? You can still make money. Should at 18, guess what? You could have made $1,000 with one contract. That's a really, really nice trade, okay? So you take the trade, if you're on the newsletter, when the market opens, into the first five to 15 minutes of the day, this trade I called in the morning before the market opened, and I very often call trades before the open in the options letter. So this was 9.01 a.m., stock moved in that day, I'll pull up the chart in a minute and I'll just show you. But anyways, this was a short, so I was predicting Boeing would sell off, okay, which it did. Again, this was two weeks ago. This was another one. Actually I called this one, five minutes before I called the other one for some reason. I called the 130s too. So sometimes I will do that as well, like we're all stack them, boom, boom, boom. And I'll call on the options letter a couple, a couple of ones in the same ticker symbol if I know it's gonna go. Okay, so in this case here, I was calling this to drop into the number. This was a little bit cheaper. Cost of this was six bucks. One contract would have cost $600. 12 contracts would have cost $700 for you. Again, I risk more in the options because I think it's okay to do that overnight because you can't lose any more than you have at risk. Whereas when you're in a day trade, you have to put the stop in. And again, they can move against you pretty quickly in the day trades. So I feel like doing a little bit more is fine for the overnight to get a bigger move and you can also split up your exits. You can take 10 contracts, get the move, get out of five, hold the other half for a bigger move too. And again, these are just some ideas for chunking it out, taking the profits, okay? But this was a really nice move. You could have sold it for 15, made nine, nine on 12, 10,800. Again, what if you'd only had one? You could have made $900, risking 600 bucks. Now let me pull up the bowing chart here going back to the first. This looks pretty nice here. Just look at this tonight here. Okay, April 1st, this here. Everybody see it? So this was a gap down, closed here. Gap down, fell, boom. Beautiful trade. You can see the low in here from the first to the second was 120. So obviously you see here the 135, the 130s. And again, I gave this a lot of time. Not that you have to hold it, not that you should hold it. When something moves 10, five, 15 points for the strike. This is profit, this is a beautiful trade. And remember, trading is about making money. Take it, book it, take it, book it, take it, book it, take it, book it. You have to get in that mindset as an active trader. And I don't know why people just start. I don't know what it is with people with this investment mindset. I mean, I always started out as a trader. I never was an investor before, but you know, you have to make sure that you are in that book it, book it, book it mindset. The idea of actually making money, okay? Which again, I told you earlier something that I've always focused on. This was the exact same day. I called the 125. Dream target on this actually was 120. It got there. So I called the 130s, the 135s, the 125s. This was a little bit cheaper. 470 could have sold for 12. Again, this is within 24 hours. It's a nice trade. 10,950 profit for 15 contracts. But again, if you bought one, you could have spent 470 bucks and sold it with a beautiful, beautiful profit. Then I also called the 120s. Again, sometimes I like to stack them. This was a little bit cheaper. Four could have bought two, spent 800, okay? And you could have made beautiful profit whether you took two contracts, one contract, 20 contracts, a hundred contracts. It really is determined by how much you want to risk. I do think your risk should be the same or equal to the same in every trade. So I'm gonna call four trades in Boeing and you're gonna do them all. Make sure that you have the set risk or equal to it on each of the positions, okay? Any questions? Oh, I forgot I did the 100s. These even were good. These were dirt cheap, $1.30. Yeah, look at that. I even forgot these. Was that same day? Yep. We have done this stock so many times, really from December, December till now that I've realized that this was good, was breaking. In fact, I said it on Fox. I said it on Fox on live TV in December that BA was lower. And the guy I was on with was disagreeing with me. I'll never forget that. Of course I was right. Anyways, this was way far away and still is a beautiful trade. And again, you don't have to get it through the strike or even to the strike to make money. So here was proof positive in this one. Cost was $1.30, sold at $3.50, boom. Profit $13,200. This was a big size simply because of the fact that it was dirt cheap. There was two of these that I had called. I forget what the date of the other one was that were so dirt cheap, I couldn't even believe them. But I mean, again, sometimes that'll be the case. Which the farther away it is, the farther, the cheaper that it is. As far as the strike. They were both out for the following Friday though. Anyways, this one here I called tighter. So this was on a Tuesday. I called puts in the diamonds, which is the Dow ETF, but I called it tighter for an expiration date on the Friday. So again, sometimes I'll do them out the week. Sometimes I'll do them out two weeks. Lin was asking about stop losses, not for the options other than the risk. The stop loss is the risk. So if you're gonna risk $5,000, that's the stop. I don't really kill them. Now, unless I'm gonna go on vacation or something, like I had the vacation plan for last week, if I don't wanna manage, like if I have 10 things on it, I don't wanna manage them into a week that I'm on vacation or I'm not around or I'm not watching the market every day, then I might exit something with a partial profit or a partial loss. When in any given week or month, I let everything just ride on out. So they either basically completely go bust into the last day if they don't go or they go and they move when they're profitable. Now, you could manage them differently if you want. You could kill it at 50% loss if you want to, but I'm telling you that knowing the way that I've been calling trades, the way that I've been, for the people that are on the letter already, I don't know if there's anybody here in the letter and know there isn't tonight, just the best thing you could do for the highest profitability and most success rate would be to do what I just said, which is take the trade, set your risk accordingly, lower it if you have to to play them all out because there are times, and I'm not kidding about this whatsoever at all, there are times I'll call something and it will go in a big way like the day before or the very last day. Obviously that's not ideal, the most ideal is it goes the day that I call it within 24 hours. But I mean, I have called things that I've seen gone that have just gone like at the very last point. And actually we might see that this week. So I called some things last week, just one of the days that I think are gonna rock and roll this week. I don't know when, I don't know when they look good, but I don't know when they're gonna go poof. And that's kind of how options are. If you've ever traded an option before, if you've ever done an option before, it could be flat, it could be down, it could be up a little, it could not really be going anywhere at all and then poof and then it goes. And in an ideal situation, what it does is I'm seeing something's going to go in that direction overnight. And those are the best trades that we've had. Like for example, I'll call something and it will gap up or gap down the next day. And then you're up a lot of money when you get up in the morning and there's really nothing that you have to do. You get out of it into the open or you can let it right out, it really doesn't matter. Those have been some of the most profitable trades that I've called this year. And some stocks that were earnings and some stocks that were affected by the market and some of them were market trades. I'll pull up this diamond chart here in a minute, but this was, these have gotten more expensive since we've had this volatility. I'm talking about the month of March, meaning things that we would normally do that could cost two bucks or even a dollar 50, like in the spy, the cues of the diamonds, they've been kind of pricey. To do this on a Tuesday for a $5 cost on a Friday is like almost two times the amount we would normally pay except for the market's been very volatile lately. But they've still been moving and paying. So again, you could have made seven on one, which would be $700 if you bought one for 500. If you have the money to spend it by 15, you buy them. These are some nice profits. And again, don't forget, if you're in a trade, the money is in that trade and it's being used up. So this is also why it's important to book money because nine times out of 10, I'm gonna call another trade. So if you take it and you book it, then not only do you have the profit of the 10,500 in your account, you also have the 7,500 back in your account that you use to take the risk. And I will call another trade tomorrow. And then you can take it and you use that 7,500 again because when you're in a trade and you're invested in it, you're using up that cost of it, whatever it is, okay? Now let's go look at what the diamonds was here on the 31st. Feels like a million years ago actually right now. Now this was good, so this was a good call. I saw this, in fact, what time did I call that? Yep, see here, look. So again, it's whatever I see it. I call most of the trades in the morning but at whatever time of the day, this is on Tuesday around lunch. I was like, oh, we're gonna gap down tomorrow. And I called the trade. So at 12.43 on Tuesday, I called it when I knew we were gonna fall into the next day and this is what we did. So I called the 220s, I think that was the one. So many different ones in this. And it opened in the morning at 2.10. And you just get out. I mean, you could have held it to just see if it would have went further. But again, you have to book profits. You have to book profits. You have to book them. And in this kind of market, because look, if you had held it, this was Tuesday, Wednesday, Thursday. Well, actually, no, it still would have had value on Friday. Now that I'm looking at, this would have still had value Friday. This was Monday. But again, if this was Friday, if this had been Friday, you see how volatile this market is. But actually, this would have had value the very, very last day. Looks like the low and that was 208. Now that's unusual, but you know, I wouldn't say necessarily to hold that long. Anyways, big profits come in money moves. For options, they're usually overnight. Where I call it, where I see it's gonna gap in the direction of something. And then for the day trades, we're doing it on the day. And the move I'm looking for is in the morning, typically the first half an hour or first hour. But large profits come from quality trades, not quantity. There are some trading rooms out there that are calling like 100 trades a day. That is completely insane to me. And I know a lot of brokers now don't have commissions. Some still do, by the way. But the reality is that, how could you even follow someone like that? Like, it's just crazy to me. And you're going long and you're going short and you're scalping and you're all over the place. And it's way too much to pay attention to. It's so much low key and low stress. If you follow me in the room and we're doing one thing or two things. And also then you can put the size on. And you can focus on what's happening. And again, low stress. Quality, quality, quality is the key for me. Whether I'm doing an option or a day trade. But it's all about the checklist. That's how I determine it. That's how I figure out. That's how I predict in the market, Boeing, all these ones we've been doing. But very often, I try to do one thing a day in the day trade room. Sometimes if it's busy, we might do two. And if I take a trade in the morning in the room and we take a stop, then I usually will look for a second thing. So I usually have a couple of picks. For options, they may go in waves. I may call five in one day, nothing for the next two days. I may call 10 in one day, nothing for the next three days. So it's kind of like I'm usually doing them in a bucket when I'm doing them. And that's, so it's a little bit different for that. But again, there are times that I'm reading the market very accurately. And I will call a bunch of trades that all will be market movers or in the direction of the market. It's because I'm reading the direction of the market. But I'm reading the market when I'm calling them. And so it's a 26 point professional bearish gap rating system that I teach in the class. The purpose of the system is to help you evaluate which gap to trade each morning using a checklist. You can use it for ETFs. You can use it for anything in the trades. And I do prefer to trade stocks with volume. I'm not doing stocks that are under $5. I'm not doing things that are dirt cheap. I'm not doing any penny stocks. I'm not doing them like that. I'm looking for institutional money that's moving the stocks because that is what does move a stock like Boeing or moves the market too, okay? The philosophy behind it is I'm looking for a high probability of directional bias for the entire day. There's no way other than to do it. It's odds. So you're looking for high odds, not high odds that the market goes back and makes a brand new all-time high before the end of 2020. Not high odds. In fact, low odds in my opinion. To understand, this is a very large prediction I'm making given the fact that there's eight more months trading months left in the year. But I'm telling you right now, based on the chart, low odds market makes a new high or even goes back to the previous high this year for the rest of 2020, okay? So I'm always looking for high probability. It's the, you have to look at it that way. And again, this is where choosing your risk wisely helps you trade and be consistent and book profits and be green because if you're risking the farm in every trade you're taking, that's really not looking at high probabilities because the high probability says that more things are gonna work, high odds, but it doesn't mean that you're never gonna have losses, okay? Anyways, I'm also looking for big moves on the day, early confirmation between 9.30 and 10 in precise entries with follow-through and a good risk to reward. Sometimes it's one, sometimes it's more than one. But I don't always know when I, you do do something. I mean, sometimes something is a baby snail and doesn't have as big of a move as I want. Sometimes something surprises me and has a way bigger of a move than I anticipate, okay? The idea is still getting it in the right direction. Now this was a day trade in Boeing. Again, so many shorts in this. This was a short, okay? This was a short, this is squished together here but this is a one minute chart of Boeing. Entry in this was 125.10 and again, I call the entry and the stop in the room and give the targets. Stop was 128.80, share quantity was 600 because it was a big stop, not necessarily for Boeing, but as far as sizing. So you can't just slap it and say the same share quantity every day because if you took 1,000, if that's not your normal risk, well then guess what? You would have been oversized. If the trade had lost, you could have lost double what you would normally risk or almost. So again, if your normal risk is 2,000, this is not an exact science, you rough it 500, 600, 700, you gotta get the trade in, you have your risk and again, we played it down, it was a nice move. So this, even though the stop was kind of big, had the drop profit 12.60. And again, this was a day trade. And I think this is a good move. So again, not every trade will go 100%. You're looking for that on average, but again, sometimes it'll hit a number because I have number targets and then there's nothing you could do, gotta get out. This was a spy trade, another market trade. Again, this is a one minute. This was back in the beginning of April. Again, another short, 255, shares 900, stop was 253.65, this wasn't a bad stop for the market. 2610, exit 246, a beautiful move, profit 4,275. Now you say, well, how do I take this many shares? Well, if you can only do 100, then you do 100. Again, when you're day trading, you're day trading on margin. So when you're taking an option, if it cost $1, that's all that you're paying. Okay, so one contract is 100 shares. If the stock is Amazon and a cost of dollar, which we probably wouldn't find, a trade in Amazon cost of dollar, but say it was Amazon, say it was Google, say it was something expensive, with equity trades, you have to have something called margin or buying power, okay, which is not necessarily the risk per trade, but the cost to take the position, which in this case here, the spy was expensive, BA was expensive, okay. But sometimes we do stocks like Macy's, which is now under $5 a share. So it really depends on the stock that we do as far as how much buying power margin you're gonna need. You can open up a proprietary day trading account with as little as $2,500, with 10 to 1 BP, you're gonna have about 25,000 in margin. But if you only have 2,500 in the account, you can't risk 2,500 a trade. I would risk $100 in the trade. So you're probably gonna be able to take 100 shares of something normally, no matter what it costs. Does everyone follow me? Now, JPM is earnings out tomorrow morning. It'll be very interesting to see what this does. This was a short in JPM back at the beginning of April. Entry was 85.34. This was a decent size, really good stock. 86.10, risk 26.60, exit 83.50. This is a good move for the stock. It doesn't look like much, but it actually was a beautiful short. Again, the precision of the entry and it just had the momentum. And again, you could have held it a little bit longer if you wanted to, 6,440 bucks, risking 2600. That's a really solid day trade. Because usually I'm looking for one over, close to one. Beautiful trade, this fell. It was a nice short. Okay, stock gap down. Again, we're gonna go back here. Closed here, gap down, open, dropped. Again, this doesn't even look like much, but it was a really nice entry. Okay, and this is a day chart. And again, JPM reports tomorrow morning. This is earning season, earning season starts this week, which is good. But the busy, busy days, I think you're gonna have more busy trades next week. More and more gaps, more earnings. Any questions here so far from anyone? This was Boeing, again, another short. Entry 141.60, 2,000 shares, risk was 3,300. Stock was 143.25. This was a big stock. Exit 131, a huge move. Profit 21,200. This doesn't look like much, but look at it. Again, talk about the money move. Get the entry, poof, this is selling. So you gotta be short. Again, if you're long this, you're losing. If you're short this, you're making money. And you don't have to do anything here. You just let it, woo, you just let it go. And remember, this was also the day that I had called the options. So when I call, if you're in the trading room and you're in the options letter and I call the day trade and I call options, you know, talk about high probabilities of working. If you're with me in both places, you know for doing it, it's a good one. Does anybody have a question yet? Yeah, Chris is typing just as completely stuck out. Yeah, I don't know if he didn't press enter or whatever. CCL, entry on this one again. Back, this was April 1st too. Entry 1185, short. This is on the cheaper end, 1245, shares risk was 3,000, exit at nine. Again, shorting, shorting, shorting. We're getting, we're shorting the selling action here in the gap down, boom. You have to get this in the right direction. If you're long this, you're losing. You're short this, you're making money and you don't have to do anything. I'm calling the trades in the room. All you have to do is get out and watch it. Put the stop in size yourself right. This was a cheap one as well. So anyways, the philosophy behind my rating system is looking for and pinpointing large institution of money who's buying and who's selling. Gaps are created with large institution of money, at least the ones that I do, okay? That is what makes the gap, that is what creates the gap. The professional gaps that happen and play out and stocks are formed by one thing, a one thing only, large institutional money. Therefore, you need a way that will help you pick the correct direction to play the gap and then confirm that the large money will flow with it. So that's the confirmation for me as the rating system. That's why I know, boom, when I'm, I don't like wait for some kind of confirmation after the open, the confirmation for me is the rating system, okay? But again, I never do anything until after the open anyways. So I'm not doing like swing trades or anything outside of normal market hours. But by having to formulate your rating qualify the gap, you get confirmation and conviction. It gives you the conviction. It's again, the high odds that the large institution of money is on your side and then you play it, boom. Gaps are an event in a daily chart and create a sense of urgency that could be panic, that could be selling, that even could be panic buying. That's an action is being forced by participants of the stock. Again, people that are longer, people that are short. People that have to get out, people that are trapped. People that want to get in, okay? Many, many reasons. This is why gap training is incredibly powerful. Trading gaps is a powerful and profitable way to trade because you're trading the side of power money. And I think this year, 2020, particularly in the last six weeks is one of the reasons we've done so well. One has been a lot of gaps in two. If you're doing other things, they probably aren't working right now. Like if you're trend trading, it's not working and you're probably losing more than you're winning because things have been crazy, particularly in the month of March with the volatility. And very often, things that may work in normal conditions don't work when you have that situation, okay? So for me, I like the volatility because it means we're gonna get the play through, we're gonna get the momentum and we're gonna get more gaps. So the philosophy behind my golden gap system is what? To analyze a large time frame to make the trend decision of the direction of bias for the gap, again, whether it's a long or short. But I do prefer it to short. And the class this weekend is the bearish class just so you know the class I'm doing this weekend April 18th and 19th is for the shorts because that's mostly what I do. I'm an expert in shorting. All large traders of every kind look at large time frames to make decisions, particularly institutional traders. To make entry decisions and exit decisions based on a small time frame, the one minute chart I'm looking to do too. And I feel like that has a very high degree of focus and accuracy. So I'm using the daily chart to make the decision for the stop pick which allows accuracy in the direction but then the one minute to get the precision. Using the one minute chart allows for good risk to reward trades with accuracy. Okay, any questions here so far? So you can learn valuable information if you wanna take my class and my class about the strategy. When you're making money trading, it's fun. For me, I said this this morning in the room, it's fun for me to predict accurately when somebody's gonna go someplace. Like I'm not always trading the market but I predicted all the time. That's fun even if I'm not in a trade in it. It's fun to get it right. But as one individual, you can trade the market successfully as a career if you have a dependable method. You can't be doing things willy-nilly. People do something they quit, they give up, they do something else, they do 10 different things. They're never focused, they never stick with anything. Okay, and I don't do anything with fundamentals but sometimes they can actually assist or add in there. But the central structure to trading results must be a strategy with a solid foundation that's based on accurately reading price action and advanced technical analysis. So for me, it's technical analysis but it's technical analysis and gaps. So what am I looking for? Accuracy, quality strategy, good risk to reward, the right entry, which gives me choice. I can hold it or I can get out quick if I want. If I have a good entry. Correct size, that's how you can make more money and then the proper exit. Usually I have a couple of targets or a money target but being successful in the market takes detail and a certain level of precision. For me, that's really the rating system and also the way that I read the open. The way that I read a stock when it opens as soon as it opens and soon as it trades. I can read something 60 seconds into the open and usually tell where it's gonna go in the day when it's gapping. And so for details, it matters. This is again, we're going back to the skill set. You learn the skill over time by trading my system if you wanna do it. In the class, you take the class and they say, I don't know, you retain 80% of the information after you take a course like that, whatever that is. You're in the room with me. If you take the class, you ask me questions later, you call me, email me, I'm here for you. I'm developing people into good traders. It makes a difference. So don't worry if you don't get everything at once. Like you'll learn it over time by doing it and you can ask me questions. Why do I prefer to short versus buying puts? I prefer to short, period. You can buy a put or you can short. I didn't say I prefer to do day trades versus options. I just prefer to short. I prefer right now to short, but I will tell you that in 2019, we did mostly options trades that were calls, but I still prefer to short. The reason I prefer to short, whether it's buying a put or shorting a stock is because moves that happen in short to the downside happen faster. And if someone said, can you make $1,000 in five minutes or do you want to make $1,000 in 24 hours? I'd rather make $1,000 in five minutes. So for, I mean, I'm an impatient person in general. Doesn't mean I can't be patient for a trade, but in general, I personally like to get out of a trade with profit and wanted to move as quickly as possible. And that means really to the downside. There's no panic in really, like if I said to you, oh, Apple's a great long, I'm not saying that. So don't go out and buy it. But if I said that today, tomorrow, in a week, you say, oh, let me think about it. Oh, maybe it'll pull back. Oh, maybe I'll do, do, do, do, do, do, do, do. If I said, and you were a long Apple, that Apple's gonna tank and you're in it and you're long. And then the next day it starts falling. You say, oh crap, she's right. And you sell your long position with the money that you're up in it, or if you were down, you sell it. So you see the difference. It's the way that people think about selling versus buying is very, very different. So the profits come faster in shorts and that's just a fact. I don't know what you mean by open classes. Billy Bob, you've done 100 million open houses with me and you've never signed up. I think you're probably following me since 2012. Why haven't I done the class? I mean, why? But anyways, as far as puts or equity trades, Eric, I'm usually looking at something because if I think it's gonna take a little time to move, I'd rather do an option. If I think it's gonna move immediately, then I'll do the day trade. If I think it's going to have a big move or a bigger move over a day or two or three, then an option is the only way to go. And obviously if the cost of the stock is something like $2,000 a share or more like Amazon, we're not day trading those in the room. I don't feel comfortable day trading stocks that are that expensive, that they would have massive, massive stops. If we did them in a one minute chart, they have huge spreads and it just doesn't make any sense to do it in any other way other than an option. And also like, I mean, there are certain things like, I don't know, Tesla's gotten really crazy, but we've day traded Tesla and we've done options in Tesla, but I think after a certain point, sometimes it just makes more sense to do some of these things that are very expensive, Google. Now Apple, we've done both, but usually again, if I do a day trade in something and I call an option, my expectation is that the option is going to have a bigger move, a follow-through move. But I really have a trained eye, like I can look at something and tell you, and that has something that I've developed over time over the last 12 years. And again, this is all that I do. So when you jump around from thing to thing to thing, then you don't really have a trained eye. Like how do you ever get good at anything? You only need to do one thing in the market to make money, but you got to be really good at it. So I am good at what I do with this. So again, you don't have to be a jack of all trades. I think it's better if you're not, but without a good strategy, you'll never make a dime in the market. You'll be back and forth, back and forth, back and forth and feel complete frustration. And I was at that point, I mean, it was like three years till I figured everything out. I was frustrated many, many times. I didn't quit. I'm glad I didn't. I was very determined to make it. I knew that I had something special. I kept going till I got the whole thing down and I've gotten better over time. And not until I got on TV did I really realize how special my skill set was because for me to go on national TV and say some of the things I have, and for me to be wrong, I mean, me to be right and many people I'm on with to be wrong that have been in the industry for longer than I'm alive has really taught me that what I have is so, so special and unique. And so that is my ability to be able to predict something like the market direction is a special unique gift and a skill set. So on a practical level, you come learn it for me. But at an individual level, you will have to gain the skills by doing it. You go through the process, you get up in the morning, you rate the gaps yourself. And they say, oh yeah, I like that one too that she picked, you know? And that's what it is. Billy Bob, I don't have the wrong Billy Bob. Billy Bob, you're here all the time. There is no other Billy Bob but you. No other Billy Bob is really one Billy Bob Trader. There's only one Irv, Irv's here, Sam's here. I appreciate your loyalty, but you're not making any money with me if you don't join. Okay, getting back to what I was saying. How much money do you need to do this? I get this all the time. It depends if you wanna do options. If you wanna do options, open up a cash account and any retail place you can open up a cash account with two grand, okay? You don't have to worry about margin. Now, if you wanna open up a day trading account, a proprietary day trading account, you will need a minimum of 2,500. At most places, some places require 5,000. If you go to a place and it requires this and that, I really would double triple check that place. And usually the BP is 10 to one. At a retail place, it's 2,500 minimum. 4 to one margin. It depends where you wanna go. You have to check into it if you wanna referral, email me or do your due diligence yourself and check out places, okay? Anyways, you take the class, you can trade on a demo before you go live if you've never traded in your life. If you have an account already, you need to be able to short, go long. If you're doing options, you have to be set up and approved to trade options. If you're having an account, if you're not set up, you probably just have to fill out some paperwork and they'll set it up for you. And you have to be able to be in and out of trades if you're gonna day trade. So you have to have an active margin account. And also, I think it's a good idea to have hotkeys. Now, if you don't have hotkeys, you don't feel comfortable with them, you can use a mouse, but I really like to be quick, quick, quick. So I like taking the trades with the hotkeys, manually putting in the stock. There's no special scanner, no special software, you just have to have charts, okay? And then I go over all the charts in the class as well. So it's about focusing on the right information, focusing on what to do. Again, it's feeling very grateful that I can still do this from home given the situation we're in right now, which who could have imagined? But a lot of people look at charts, don't look at them correctly. And as I was saying, I didn't realize how special my gift was until I started appearing on TV. And many people were talking about charts in ways that I knew were completely wrong. So it'll be interesting to see if my prediction for the market here that I've made where I've fully put myself out there is gonna come true now for even this period of 2020. But you know, there's so many people to trade the market, but that's why there's so much money to be made. And every time you take a trade and you make money, you're taking that money from somewhere else. Somebody else did a trade and lost. But you do have to book money. And I think it's important to have a plan, a plan of action. And we're looking for one-to-one. Sometimes it's a little bit more. Now on the options, if you hold them, you can make more or if they gap in your direction. So that is one of the benefits of doing the options where you can get those big overnight moves. But in today's world, man, this is so true of today. Today's world is not the same as 25 years ago or 10 years ago or even five years ago. What we think is a secure job today would be gone tomorrow. It can be great employees, productive, outgoing, hardworking, and it may not even matter to an employer in the end if the company can't keep you on. Right now, many of these companies are trying to survive and keep employees on. Some will, some will fail. And it's unfortunate, but this is where we're in this conundrum where they don't know when they're gonna reopen the economy again and things are gonna get going if they're gonna get going by May 1st. So you have to stay strong in these times. You have to use this time to your advantage. If you have time and money to train, I can teach you how to do it. So I think a lot of people that have been ready to win with me are very grateful that they're ready to the class, know what they're doing, they're ready getting the trades. We've been making money for since this whole thing has been going on the last six weeks. But if you're new and this has just hit you like a brick, like a ton of bricks, and you're trying to figure out where to go next, if you have the money to trade and if you have the money for the class, you've got time now if you're at home when you may not have had time before. So think of it in that way that's positive. You actually have time now to train and time to learn it. So try to think of it as positive. Of course you have to have the money to trade and you have to have the money for my class. But anyways, the money comes easy once you learn what to do. And it's just like I said for me and then when I take a trade that doesn't work, it doesn't, I don't agonize over it because I know that the next five will. So it's like, this is just what it is. And that's why it's important I think to also have a mentor during these times as well. You can use my system for day swing and option trading. And again, the live trading room, I call the trades in the room and we're trying to focus on one thing but earnings season is starting tomorrow. So we might do two things tomorrow, I don't know. But how much you make is a function of how much you risk. And I'm usually trying to focus on the short side but if I don't see a good short, I might go long on any given day. Just depends. It really has to do the quality of the gap but it's really important to be focused, really important to have a good strategy if you wanna be successful. I can't stress that enough. And you might think something is a strategy like buying on the 20-peer moving average that it's not a strategy, okay? And in these times when the market's volatile, you have to have a strategy that works and you must focus on a strategy and you can't change your mind every other day. And I mean, otherwise you're gonna just get chopped up, okay? And you don't wanna lose your account. You don't wanna lose the profits that you're made in something when you're up. I always stop also when I'm up. Like I won't keep going and going and going unless I see we've got the market with this power training that I might do three, four, five, six things in a day in the day trading room but usually it's just I get up, I do my thing, I'm done, okay? It's not about being a piggy, okay? And the options are just another way to capitalize on bigger moves. So if you're thinking about doing this, again, my class is this weekend, you can learn it. The key to the system is the 26 points is how I'm able to predict the stock's move. It's how I'm able to do this, okay? It's one strategy is all you need to be successful in the market. You do not need a general overall broad-based view to make money. Tons of people have that all the time and fail, okay? You have to do something that works at every market conditions. It's institutional money and I'm looking for it in price patterns and gaps and you really don't need anything else because I don't need anything else either and I don't do anything else. And I'll never do forex and one of those other things people are always trying to talk me into this thing, that thing, Bitcoin, why? I just wanna make more money. I'll just risk more in the things I'm doing already, okay, but I'm in a groove and very comfortable, things have been going well. And you know, when you're so comfortable with what you're doing, I say, don't change anything. And that's really kind of like where I'm at with things right now into 2020. So the classes this weekend, April 18th and 19th, nine to five Eastern time, cost of the class is $69.99 US dollars. Contact me if you wanna sign up. You must email me for the sign up forms. You cannot sign up on the website. You fill out the forms, your facts or scan them back to me. Any questions from anyone at awe? There's New York. Let's see where the market is here tonight. In fact, did they start? The White House briefing was supposed to start at five, but they're always late. Did they start? Actually, let me look. Like I kept the TV. Nope, they didn't start yet. They're always late. I was gonna tape it, trying to keep up with what's going on. No, they didn't start yet, but I've been watching the briefings when it's not of the weekends, but during market hours to always see if the market's moving when Trump talks. I'll be interesting tonight. It's supposed to start at five. Any questions from anyone about anything at all? Thanks for coming tonight, everybody. I hope you have a wonderful, wonderful training week. Okay, watch the banks tomorrow morning they're out. Thanks for having me, Kathy. Thanks for letting us stay a little bit after 5.30. Any last minute questions from anyone? Okey-doke. Have a wonderful night and a good day tomorrow.