 Welcome. Let me know if you can hear me. Let me know if you can see the slide. How's everyone doing today? Can you see Kathy? Great. I'm going to get started here. So welcome. Excuse me. Let me know if you can hear me. If you have any questions, you can just write it in the room. Where I just put hi. And then I can read the question as we go along and answer the question throughout the lecture. Hope everyone is having a great week. It's Tuesday. It's earning season. Excuse me. No big earnings out tonight that I'm watching. But tomorrow morning for sure, Boeing reports. And tomorrow the market could be wild because Mueller is testifying. So it's an exciting week to be trading. And for those of you that don't know what I do, I trade my own system, a system that I created. It seems like a long time ago now. I started trading in 2008. It is almost 2020, which is crazy. But it is. We've got less than six months till Christmas. And all of a sudden it will be January 1st, 2020. So I've been doing what I do for a very long time. And I know there's a lot of people that have been out there trading more years than I have. But I only do one thing. So I think for me, I'm kind of an anomaly where I literally only do this one thing that I created and nothing else. So tonight I'm going to talk about a day trade and options trades, but it's the same system. The same system that I use for anything that I do. It doesn't matter if it's for five minutes, five days. It doesn't matter if it's an option or an intraday day trade, which by the way, you can day trade options. So whether equity trade or option trade, swing trade, long-term reads on stocks, which I do as well. Either way, I'm only looking for the gap. And for those of you that don't know what a gap is, a gap is a difference between a close and the open. And we'll go over that tonight. Any questions here before we get started? And if you would like a trial for the trading room this week, there's only three more days left, but it should be a good week. You can email me at Melissa at thestockshwush.com. And if you have questions, again, you can call me at 929-3200-GAT. So I've been doing this, like I said, for about 11 years, going on 12. And I've had the business for seven going on eight. And I've talked to a lot of people. In fact, I talked to three separate people this afternoon. New people that I've talked to about trading. Some people are new to trading. Some people have been trading for a long time. Whether someone has never traded at all before or not really doesn't necessarily put you ahead of the game. So if you're brand, brand new, you have all the benefit of coming to me because you're going to learn what I know and not have any bad habits. For people that have traded in the past and come to me, sometimes they have to unlearn bad habits that they have in order to become successful. So I don't think if you have any experience it necessarily gives you a leg up. And I don't think if you have no experience it means that you can't get it right off the bat. It is about having the right information. It is about having the right knowledge. And that knowledge gives you the conviction. And this is something that I utilize when I'm taking a trade or looking at a chart or determining where I want to enter or even exit a trade or how long I want to hold it or whether or not I even like it at all. I really don't second-guess myself really ever. It's rare that I would happen to do that. And I'm one of those unique people where I'm very, very strong-minded in my belief system about whether a stock is going to rally in which case we go long it or whether it is going to drop in which case we'd short it to make money. And again, you can do either way, you can do calls and puts for options or you can do day trades where you buy the stock or short the stock. Conviction is a very, very important part of what I do. When I see something, I never, never think that it won't work. Now, while some trades actually lose that I call some do, I never believe that they will. So in my mind, when I'm seeing the setup, when I'm seeing the stock, I believe 100% that it's going to work. And again, that is a unique belief system because then I don't second-guess myself and I don't hesitate when I'm taking the tree. So that conviction, that belief system, because that's what conviction is. It's a belief system. It's a knowing. It's a trust that I have in myself and my own judgment. And that comes from experience, but it also comes through education. I've taught myself how to read charts. And so when I read price action, I trust my judgment and I trust my read on that. And if you come and you want to learn from me, that's what you'd learn. You'd learn the system that I teach, but you'd also learn to trust yourself. It doesn't mean you'll never make a mistake, but learning how to trust yourself is very important. And then if you do make a mistake, you'll realize it and you'll correct it for the next time around. But trusting yourself is important. This was a really, really nice call. This was Netflix. This is a chart of Netflix here, and I went back from last week. Netflix had earnings, but it didn't have what I thought it would initially, the first day, the move that I thought. It's doing it in the last several days now. The move followed through. But a gap is a difference between the close and the open. So this is a day chart of Netflix. And again, I didn't show today in here, but this goes back to the previous day before the day of the earnings. The stock was up here around 362 and gap down here to around 325 and change. So this is a gap. Stocks can gap up, they can gap down. In the case here of Netflix, the stock gap down. Anyways, what do I do? In the pre-market, or even the post-market, like I could do it tonight if there was something tonight that I liked, I rate the gap and that's the system that I use. And that's what you learn from me. And I use that information in the pre-market and the post-market and seeing the gap itself to determine if I want to go along the stock or if I want to short it. And that's the genius because I'm figuring it out ahead of time. It doesn't matter if you do it at night or if you do it in the morning. It is the idea of the prep work, the preparation. Talk about conviction. Having yourself being totally, totally, totally prepared really helps you trade well. Because then you're not looking willy-nilly at stuff on the live day trying to figure out do I do this one, do I do that one, do I go long, do I go short, whatever. So anyways, Netflix was a short called Puts In It and we did it as a day trade. I'm going to go over that here. But some day traders and some long-term traders bought Netflix. You can see because the stock here was green. This green body indicates buying and the stock open here fell rally and actually got bought. At one point the stock was at the price of the stock was at close to $3.30. So there were buyers in here on Netflix on that day but the move to get was to the downside and it's a short and I'll show you a chart later where that really went. And getting to the point that I'm trying to say is what my system does and again this is why this is a great system is I'm looking for institutional money. I'm not looking for what regular traders are doing. In fact, very often we are going against regular traders which is fine by me. I'm going with institutional money when I'm predicting the movement of a stock because that is what move stocks. Simple day traders cannot move a stock like Netflix. Now they did temporarily for the temporary time that the stock rallied in that brief, brief period of that day. But they did not overall. How do I know? Because Netflix has continued to fall ever since that gap from last week. In fact, it's going to break 300. It's just a question of when. I didn't see how that closed actually today I don't. So it's the theory. The theory in the system of what I'm doing is looking for institutional money. Now, if you don't know what institutional money is it's hedge funds, big, big traders, big banks that take huge, massive sizes in stocks. And there's some big reports this week. There is Google. There is Amazon. And those stocks, I'm sure you're familiar with the companies and those names, by what? By institutions. Now here is a chart of institutional money that moved the stock higher. Called call in this, this is BYND. In fact, I've called a ton of calls in this in the last two months. That every trade that I've called in this stock has worked but one. I've lost track of how many. Either I've called 12 or 13 or 14. I've called, I've called, I might have called 14 trades in this stock in the last two months. One trade has failed that I've called in this and all the trades I've called. So this has been a big winner. And not only that, it's had Jimongo moves. And it's really fun to trade. One of the reasons it's fun to trade is it has big moves and the moves happen fast. And guess what? As an active day trader, or an active, even if you're not active where you trade in and out in minutes, even if you're in something on a Monday and out of something on a Tuesday, that's still a fast move. You might want to overall when you look at something. And don't forget day trading or even options trading when you're in and out in something, you're booking money. It's not long-term investing, but BYND is higher. BYND made a brand new all-time high today. BYND today got up to 208, close to 209, 210, dream target. BYND was getting bought. Okay, so institutions came in, stock apt up here rallying. Again, made a new high today, up close to 209. So this you look at it and say, ooh, that has institutions buying the stock. So I called the column this yesterday. It was late and it still worked and was a great trade, flew over the high. I called one last week, which I think a couple people kept. But anyways, it's important to understand that day trading really doesn't have any overnight risk. You need cash to day trade, you'll trade with margin, but you're in, out, in, out. You could be in at 9.32 and add in 9.35. You could be in at 9.40, you could be at it by 9.46. Nobody said you even have to hold the trade from 9.30 to 4 or 3.59. You are taking a trade and you were in and out before the close, but you could be in and out in a minute the way that I trade, especially if you're following me. The idea is to get into out. It's consistent booking of money. And someone asked me about this today. It's not really return an investment when you're looking at day trades, because if you look at it that way, it would be hundreds and hundreds of percent some days. It's the idea that it's, it's a risk to reward. So I typically tell people one is what you're looking for, a one turnover. So for example, if you would be risking $500 per trade, what is your goal each trade? 500 bucks. Some days you will not make 500. Some days you will make 4.25. That's close enough. Some days you will make 7.60. Just by virtue of being in the trade from where I call it and I'm watching the stock move. But the point is on average, that should be where you're targeting yourself to be. Okay? And I do use stops for those of you that are not familiar with what I do. And if you're brand, brand new, again this is important to learn this in the class, because I think stops are important in day trading. It's like the insurance that protects you. But day trading is not investing. You are pulling money out of the market. And that's what you're doing. And you're just pulling it out. Monday, Tuesday, Wednesday, Thursday, Friday, as many days as you can get good trades. Okay? Any questions so far? It's fast moves, not investing. So I think it's good for people, if they have goals, to take the amount of cash that you have and then determine what your risk will be per trade, then what you need your goal to be every day and break it down. So like for example, if you can afford to risk $500 a trade, that would be an average of what? $2,500 a week. But you may not make $500 Monday, $500 Tuesday, $500 Wednesday, $500 Thursday, $500 Friday. It's an average. Monday, you might not do anything. Tuesday, you may take a trade, you may make $1,000. Do you see how it goes? So it's on average, and I think it helps people process these numbers to try to make a living trading that each week or each month. And it helps them process the whole year. Any questions so far from anyone? Snap is up. I'll take a look at that. Anyways, getting back to what I was saying here about Netflix, okay? Netflix has had a tremendous move and it is because the stock is falling off a cliff. So as a trader, how do you make money? You got to get the direction right with the institutions. And if you do, it's so easy to profit. But you have to know the direction that it's going to go. And like I said, people were long Netflix after the gap down on the earnings. And that was a bad trade. You would have lost money if you had gone long Netflix, okay? Netflix was a short. Now here was the day trade in Netflix. I'm going to walk you through it. This is an advanced trader risk, but we will go over a beginner trader risk as well. Share size 1,000 shares. Entry 326.10. Again, I call this in the room. Stop was 328.50. This is not small. But you have to look at the price point of the stock and you still size yourself correctly. So 1,000 shares would have been a risk of 2,400 bucks. This is an advanced risk. Now you could have taken 500 shares, risk 1,200. You still would have had a great day. Total profit 5,550 dollars. You would have risked a reward. It was over 2 because you risked 2,400 and you made 5,550. And again, if you had taken 500 shares, you would have risked 1,200 and made about 2,500 and change. Okay? So the point is you're looking for a move. Risk to reward. Risk to reward. Okay? Now here was the trade. Back down, open, rally, boom. And actually we weren't even aggressive on this. Here's the rally that happened initially. Here's 9.30, here's the open. We did this over here. It was a beautiful call. And then it dropped, boom. So you could have taken it here, shorted it. This is a short. You would have shorted it here and got out. Or you could have shorted it here and you could have held it. Okay? Either way, this is a one-minute chart. I'm trading. I'm looking to trade on a one-minute chart. I'm in and I'm out. I'm in and I'm out. Any questions about this so far? Now let's look at a beginner. Beginner could have taken 100 shares. You say, well, 100 shares, what's that going to do? Well, you could have made 555 bucks with 100 shares in Netflix. Why? The stock moves. It moves, moves, moves. Just like BYND. You don't have to take some months or size but I hate playing stocks that don't move. I prefer to trade stocks that move. It's more fun. You make more money. And really, when you think about it, again, size is great if you can afford to take the risk. If you can risk $2,000 plus or whatever, take the size. But if you cannot, if you cannot, you can take a small size in something, 100 shares, 200 shares, 300 shares and still make good profit. And that's the difference of what I do and what other people are trying to talk to people about trading low float stocks or these penny stocks or dirt cheap stocks so they can take thousands and thousands of shares. That can be very, very risky. And you could still get stuck in something or could get halted. Okay? Your stock may not hold. Or you may not even get filmed to get out. Even if you're up. By the time you try to exit the trade, if you're up, you could actually move the stock and you could actually move it in your position and then you're not up and you're getting out worse or losing. So it's ridiculous. The only way to consistently really be profitable if whether you have a small account or whether you have a big account and by small I mean $2,500 not 500 bucks is if you are trading stocks that have moves, big moves. That's how you get the risk to reward. That's how you can take a small account and turn it into a big account rather quickly. It's the precision in the entries and again I'm looking for the right pick which in this case was Netflix. Any questions so far by anyone? So it all comes down to really just the focus for me. One system. One strategy. One pick. One, one, one. I just narrow it down. I'm like a hundred percent focused on whatever I'm doing at that very given moment. Like a hundred fifty percent and that is how I do it. Okay and again I have confidence in myself, confidence in the system and I don't second guess myself. And that's something that I think is important and once you learn that and understand that it helps you do better as a trader. Any questions here so far? Any questions about Netflix? Day trading? Anything? So here is, here was Netflix again right after the day that it gap down, closed here gap down fell. Here's where it sold off then the second day down. So this was Thursday. This was Friday. Okay. I called this was on the Thursday. Okay. Puts in Netflix. Now in order to get these trades you would have had to be on the options newsletter. It's a subscription service that I have that's an annual service. But I call these trades based on my rating system. Again same system. So I called the Netflix Puts strike 320. And this fell well through it. Expiring that Friday. You could still be in this trade. I don't think anyone is. But Netflix is still falling. Fall fall fall. And again the beauty about trading options is you don't have to worry about margin because this is an expensive stock number one. And number two you only have to get it in the right movement. So in other words this did run through and fell through 320. Like I said I don't know what the low was today but at one point it was at 308 and the thing is you don't have to get an option if you take it at the perfect time to the strike or even through the strike to make money. If you get it at the right time getting it into the strike is all that you need. And in this case here this was a put. So that's what a short is in the case of an option. Anyways cost was 580, 13 contracts again this is a little pricing risk 7540, exit 8 and this continued like I said this continued. So this was an exit from taking a Thursday exiting at Friday which I thought was a solid solid move. But anyways this continued Monday and this continued today. And it's still lower and you could still be in this trade. I'll have to send out an email to the letter to see who's in it. Anyways $2,860 take it one day exit the next day boom or if you held it you got a bigger move. That's all pull up the Netflix chart to see where we close today after go over these. Now this was an option too. I call the Netflix put strike 325 this was last week so you had to exit this one this was profitable cost 320, 20 contracts 6400, exit 620 profit 6000. When you do something close to the strike you got to get it on the day or into the next day. This was an unusual circumstance so where I will tell you you could have held it into the very last day because the stock continued falling. Nice move in Netflix again go back here this is the drop off. And in this case here again went right through the 325 number. This was the 330 puts. This was a little pricey but again you could still be in this falling, falling, falling I should look at what this was today actually 1170 cost 6 contracts again an advanced risk 7,020 exit 1550 profit 2280. So this is 3 trades in and out from Thursday to Friday plus the day trade in Netflix and this is an advanced risk okay you do not have to take this risk in these trades this number of contracts you could take less but you can see how the focus on one thing one chart that's it multiple trades in one stock using one system and that's it and you boom boom boom and this also allows you actually to be a little bit flexible about how you manage the trades if you want to spread them out. So you could have taken the puts the options and you could have gotten out of all of them last week or you could have gotten out of one held the rest or vice versa held one gotten out of a couple you could do whatever you want and you could have actually day traded Netflix as a short every day since that occurred as well but the day trade I reviewed here in this class was the actual day of the Thursday but again one system one good gap that is all you need okay it's all you need and you have to get it and you get it right and you just go for it so here this was from today um actually this was of the close so this this shows where this was I don't know what the exact low was looks like it came down to 306 something and change so here was the day Thursday Friday big sell off here again I thought this was a great exit for the for the majority of the puts but if you held any into the following week here is Monday and here's Tuesday and there's where it went boom so again nice move here nice move here to the downside for Netflix and a beautiful beautiful call again I'm looking for institutional money but it's the gap itself so I see the gap I see the gap again the stock closed here Wednesday night here around 352 or 362 sorry then open here in the morning around 325 closed here gap down and I raided it using my system to determine hey wait a minute this puppy is going to fall and I'm predicting that's what I do I predict I predict the direction that the stock is going to go any questions from anyone here so far tonight so it's very very interesting when you're doing this you know a lot of people want to trade per quantity of share size but I'm always looking at the money of the risk per trade to stay consistent with it so I might call a trade and I might say 5 by 30 well that's 25 cents but you know you have to figure okay 25 cents times however many shares I want that's your risk and if you can't say oh I'm going to take 5000 shares every time I take a trade no because your stop may not be 25 cents which is actually a small stop okay and that would be a $2500 risk and if you don't want to risk more than that then you have to be careful so it's very important to have a calculator I think next to you when you're trading or be good with math in your head I'm very good with math in my head very quickly and I tend to round the numbers when I'm doing things because it makes it easier for me and again this isn't an exact science but it has to be pretty close because if you take a trade and you want to risk 500 and all of a sudden you really risk 2500 well that's really going to screw you up because what if that's the one trade that loses do you see what I'm saying any questions anyways you can trade anywhere in the world so that's very important in some countries I trade in different time zones two of the people I talked to today on the Pacific time zone on the west coast in California so we start trading at 9.30 am eastern time I'm in New York but again if you're on the west coast that's 6.30 am depending on what time of the year it is and again if you're in Europe then you're well ahead it's the afternoon or even evening in some countries so you have to be able to block out the time between 9.30 am and 10 am eastern time to trade I want to go over one other trade here this was a market trade this was a diamonds out from gosh I think this was two weeks ago now yeah this was a nice call a nice easy peasy rally that happened that lifted and it's happened pretty quickly too so on Wednesday I called the 270 calls this was a long that expired last week but you didn't have to hold it to then it just moved right up so I called it on the Wednesday here the 270 calls here was Wednesday and it went right up boom boom boom it just followed through this was two weeks ago so you take the train rallies boom you could have got out of it here or you could have held it to here another nice call this is a long where I am seeing the bullish money come in the stocks getting bought up okay very nice trade advanced trader risk and beginner trader risk are important because it depends the size of your account say you open up a starter account and you have $2,000 at an options account well again $650 risk if you could afford that you would have paid $130 five contracts that's not nothing that's basically equates to 500 shares exit at three profit $850 that's a good profit risk $650 and you can make $850 so if you had a $2,000 account you could have done this trade and guess how much you would have had in the account once you're done your account would have went from $2,000 to $2850 just in one trade again hitting it specific specific specific specific okay very important to just take trades hold the conviction go through the process and again an advanced trader risk you could have piled it on with this one this was I thought pretty cheap $1.30 50 contracts $6500 exit at three $8500 profit now again this is an advanced risk again return an investment for both of these whether it's beginner or advanced is the same it's more than 100% when you're risking $6500 and you're making $8500 that is a good trade your goal was only to make $6500 you made an extra $2,000 or whatever the case may be over here same principle you risk $650 your goal is to make $650 any questions here so far? quiet group tonight no questions I see some familiar faces Leo boom boom I hope someday some of you do the class before I stop teaching it honestly some of you have been following me for so long I talked to a gentleman today one of the gentlemen that called me two years it took him to call me he picked up a phone he's been following me since 2017 I think you know I think once you're bitten by the trading bug it bites you and it's just a function of when are you going to jump in for me I'm like I said I'm very confident so when I see something that I want to do I just go for it it doesn't matter what it is could be TV could be trading whatever I just jump right in head first with my whole self but it's definitely one of those things where you know if you're not a confident person you can become one you can learn confidence I think I was you know raised this way or born this way I don't know but you know you can you can learn confidence it's something that helps and I think one of the important things about my program is being in the live trading room with me is I try to help people's confidence by showing them that they can do it because there's nothing more that helps confidence more in trading than being green green green the more consistent and it's not even the amount it is the consistency when you're green Monday Tuesday Wednesday Thursday Friday Monday Tuesday Wednesday Thursday Friday week after week when you're green every week that builds your confidence and then you start to realize that you can do it I think a lot of people are skeptics they're skeptical skeptical that anyone can make money the market or maybe they're skeptical that they can't they think that they can't that maybe other people can but they can't they have to do something to turn it around if you are a skeptic and if you don't think you can make money then why are you trading and many many people are trading they may not be trading this type of size we've been talking about today but they're trading they're trading and they're trading actively and they're losing even if it's small amounts it adds up you just you figure I mean even if you're losing 300 bucks a week by the end of the year that adds up so it's 15 grand so I mean you have to take in my opinion it's seriously if you don't want to do well and if you're going to waste all then you got to take it seriously Gallaudet's laughing what did I say FitTech is listening good stuff thank you did I say something funny that I missed oh that I was born this way is that what I said anyways working for yourself is good it's good it's fun in the summer again weather right now is super super hot in New York which I don't mind but I mean if you had to work in a cramped office a good trek back and forth in the subway in 99 degrees and this humidity that's not that much fun I'm in my apartment in the air conditioning every day trading in the morning so I'm telling you working for yourself is so much better so much better than actually working for someone else but again the confidence the confidence to do it and again that's something that you can build just because you don't have confidence today doesn't mean you're doomed part of it is the information learning the information in the class that helps build your confidence taking trains live making real money that helps build your confidence okay and for some people that takes days for some people it takes weeks your confidence has to start from where you're at right now and build it up and I think the first step in that is recognizing that you need a boost and asking for help and say this is something that I realize that I have to work on with myself I'm going to do better about it just like if you had any other problems say you were smoking and you want to quit say you were drinking too much and you want to quit say you want to lose weight any goal that you have a personal goal for your health or your well-being the best thing you could do just be honest and say I have got to become more confident I'm going to work on this and get better and that's okay it's not demeaning to you to recognize that you have something that you need to work on for self-improvement okay but you can do this and I think that's something that over the course of time and having the business for like I said seven going on eight years I've taught people to realize that they can do it the longer that they're with me the more they get it whether they're doing options whether they're doing day trades some people are doing both some people have a preference for some either way but I definitely like the in and out day trades of the morning quickly right now it's starting season like I said and we're very very active now I didn't do anything today because it was on TV I was up in the middle of the night so I was up at 2 a.m. came back after I was on Fox News and came back and crashed for a little bit but tomorrow morning we're going to do something I do not know what it is like I said if you want to trading room trial just email me but I like that focus on the time right into the open for myself if you want to do this is you can work for yourself you can work only one hour a day and again this is the active day trades and you can take vacations when you want I don't know when you're going to fully make all the money that you want but I know that you can using my system and that is powerful and that is powerful just the thought that you could do this just think about it for a minute like I was thinking about something this is nothing to do with trading I have some other big dreams for myself and I recently found out about something that I could do myself it's a massive undertaking huge huge thing that I realized that I could do for myself it's going to cost a lot of money but it would develop a dream that I have but I'm so excited even though it's a massive massive project I can't explain to you how excited I am about the thought that I actually could do it once you realize that you actually have something that's your dream it totally changes your whole perspective and I'm one of those people that I don't think that there's anything that's too big to overcome but this is such a small thing you're sitting at home with your computer and all you have to do is do one trade a day how difficult can it be well it's very difficult for many people because they have no clue what to do so that is where my system comes into play I pinpoint the one stock a day you only need to do one trade and what if you do one stock a day one trade and what if it loses then you got one loss not a million losses one get up tomorrow see if we get the next day I mean if you are so damaged from past mistakes and failures or issues like discipline or whatever do one trade a day you will do well but you have to apply the system and again I think being in the trading room is a positive support system for new people too day trading produces income week by week it's not investing you chunking it chunking it chunking it chunking it and again you have to desire to do this you have to have a passion to do it you have to have a desire to do it part of taking the class and learning it is again having the passion to want to understand it so you can start to make real money when you get to the point where you can take a trade you can make thousands and thousands and thousands of dollars in one trade whether it's an option or a day trade it turns everything around for you triple quadruple your account in a very short period of time and people are doing that with me so the fact is you have to decide that this is something that you want to get good at and want to get passionate about you have to want it because nobody is going to do it for you there's not some guy walking around that's ringing the doorbell and saying do you want to trade the market today the market does not care if you never take a trade again the market will carry on you have to want it you know I'm here to support people through my class to do it many people are interested in trading and they trade but they are not passionate about it and they don't have the drive to make the money it's the motivation and without that you're going to lose because there's too many people out there who are motivated and they got a heck of a lot motivation and they're good and they're smart and they're intelligent and they know what to do okay just like I was telling you about the Netflix there were day traders that were buying Netflix and we shorted it and it was a really nice trade okay so think about that you want to be on the side with the smart people with the rich people and that is not most day traders quite frankly I'm in a special category I'm an anomaly let's talk about financial freedom this means something different for everyone certainly means something different for someone that lives in New York for someone that lives in Ohio it's different no matter where you are everybody has different goals and different dreams and some people love their career they don't want to quit their job they love what they do but they want to make more money they want to make more money and this is something that again doesn't take a lot of hours a day so I'm focused on one thing and it doesn't matter what your goals are I do think it is important to know what you're doing this for why are you doing this do you want to supplement your income or do you want this to just be your income or are you just want to buy something or are you just like trading are you retired, are you bored I don't think being bored is a good reason to trade though to be honest with you because you're putting your money at risk and you have to take it seriously that you know what to do and again motivation whether it's buying something or switching careers those are very motivating factors working for yourself working from home those are motivating factors so pick the things that are going to help motivate you to do it and to spend the money and spend the time because it is time and it is money it is all those things again no one's knocking at the door just giving you everything in the world and all these great trades for free any questions so we'll talk a little bit here at the end this is my rating system it's a 26 point checklist it measures gaps 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 a big move in the day early confirmation of the bias and the move between 9.30 a.m. and 10 a.m. eastern time and precise entries with follow through and a good risk to reward target potential because that is something that I'm really looking for as well I want to see the move in something that it's going to go like this earlier chunk it out I've called some huge trades this year I don't know when the next one will be I know if you join you have a chance in getting it and if you don't you don't I've been talking to some people about the gap options letter for the last few months they've missed so many great trades so again you have to be motivated to want to make money and to want to trade and if you are you're a great candidate for any one of my programs or subscriptions or the class I'm highly motivated in what I do that comes through in my teaching it comes through in the trading room it comes through in my communication to my students and clients but anyways think about what I said about sizing if you're bad with math just give those little cheapo calculators and have it next to you okay think about what you're risking are you going to do one trade a day you're going to do two be consistent with your sizing okay make sure to use stops again that's the protection it's the insurance so in my class I teach a course it's called the golden gap the golden gap system 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 directional bias in a stock and that's how I know to do BY&D versus Netflix how to go long and how to short but the main point of tonight is that one strategy is all you need to be successful in the market you do not need a general overall broad base view to make money tons of people know all kinds of things about fundamentals and all kinds of crap I'm not interested in that stuff and it's not going to help me make money so I don't care if I see Netflix and I rate the gap and the gap rates good that I'm doing it same thing with BY&D I don't care whatever okay doesn't matter what matters is price because that's how you're going to make money you get something at a good price in the right direction you're going to profit and that's all that this is for that is the reason we're doing this yes it's fun it's true but it's fun when you make money it's not fun when you lose so learn how to read institutional money and price patterns in gaps you don't need to do anything else this is what you would come to me and I would teach you okay if you're motivated to make money you will understand that that's going to help you do well and you will take that energy and that fuel and that passion and drive to be profitable to turn it into something good for yourself it's something that even if you're not there right now you will get there Jake can you ask if I have a payment plan no I do not if you want to do the class you must pay for the class up front and if you want to sign up for the options letter you must pay for the options letter up front so that is an investment for you the class is $59.99 at six grand and the options letter currently is $49.99 but that price is going up to $59.99 as well I think once you become a member whether you do the class or join the letter the price will be irrelevant to you by that point because you'll see how good this system works but you do have to have the money to pay for it up front um Kathy is bringing up something about a credit card plan one thing I do allow is if you want to put it on more than one credit card you can so if the price of the class is six grand you need to split it up in three cards or something you can do that PayPal does have something if you purchase something gosh I don't remember if it's over $100 over $1000 I don't know you have to Google it then you're allowed to apply for PayPal credit you pay the SOXWUSH for the product or service um and then the PayPal splits it over six months you have to be approved with PayPal just from what my knowledge of that program is you have to have I think a FICO of around 680 if that helps you know or not it's helpful in the sense that they don't charge interest and they split it up over six months and you pay it back in full upfront but I think you need to run a 680 FICO okay remember that old saying that's out there cash is king when the streets are bloody you know I only accept payment on a credit card but if you that's the only way you can do it then that's what you do okay and you throw yourself in I mean it's so many years now since I've started trading I mean it's just it just seems like so long ago that I was switching careers I mean 2008 was just so long ago but at the time that I switched I was doing mortgages I knew I wanted to get out I literally was willing to do almost anything to get out like I wanted a different career so badly I hated my job I was so miserable like I was willing to try anything new so the fact that I was doing something new and I did pay for one class and I had to put up money to trade it in a trading account to trade and I did it was like I was willing to I was willing to take any risk I wanted something different with my life and I know this is hard to explain it is hard to explain because you know again you have to think things through sometimes but don't think things through too much I don't know if that makes any sense as human beings we overthink things it's one of human beings greatest faults people overthink things they think and think and think and think and think and they overthink it the best the best example I can do to give you an example is love if you have to think hard if you're in love with someone the answer is no you're not and if you go through life where you are in this space where you are in touch with yourself and you're a confident person and you have a high level of intuition and you trust your decisions you will not overthink things and you will you will glide through life versus going through the struggle of everyday life I don't know if that came across the way that I wanted it to but the more the wiser that I become the more I'm realizing that that is true and if anyone has ever spent even one day in the trading room with me which some of you have some of you have in the open houses and some of you are students that are here tonight you know that the best thing about being with me the best thing about knowing me is the way that I am in the live moment when the market opens and that is something that I don't I just do there's no thinking it's me in the moment when I'm seeing the pre-market when I'm seeing the gap like Netflix live when I'm making the call it's yes my brain is working but it's instantaneous and it's a knowing that is something that if I could bottle it up and sell it like a perfume I would charge millions of dollars and you'd all be rich but I don't know how to do that so the closest thing is you do my class you sign up for the program you follow me and you develop that within yourself because overthinking kills the cat it does with trading and it doesn't life because if you're afraid to take risk and you're afraid to take chances and you overthink things you will ruin it just like just like with love and even if you know that you love someone and you don't have to think about whether or not you love them you can completely destroy a relationship and kill it by overthinking it by trying too hard or forcing a situation that the other person that's just not whatever it happens to be whether it's going on a date whether it's moving in together I could use a million different examples having kids or whatever you can create a difficult situation a relationship even if you're in love with them by overthinking something does this make sense I know Gallahad understands what I'm talking about because he's been there he goes there and he leaves and he comes back and then he leaves and he goes again so don't overthink in fact I'm just going to use it as an example Gallahad because I'm going to pull up this trade that you didn't do hold on so Gallahad did not do this trade ooh this is Facebook what's happening right now what is happening right now Facebook just fell off the planet Market just fell I'll look at that later I'm going to use Gallahad as an example so I called a great trade Gallahad didn't do it he overthought it um no BYND I'm sorry did I say Facebook and it was so late that I'm sure Gallahad wasn't the only one that didn't do it so I called the 200 calls for this stock now I know this is here in fact let me pull up the intro because maybe this will show this I want to know the way the market is falling off the planet right now I called this trade I don't remember the exact time in fact let me look up the exact time let's be exact it was a great trade but Gallahad didn't do it because he overthought it he overthunk it and it was a huge trade talk about not overthinking things like I was saying that I don't when it comes to trading yesterday was the 22nd 1235 this was late 1235 it's like around here has everyone seen Netflix it was in this here well out to Friday I mean is that listen just couple of days this was Monday I called it for an expiration day the 26th I called the 200 calls Gallahad didn't do it because he thought it was too late it worked not only did it work it ran up and was double what in other words it was more than 100% profit if you paid 4 if you paid 5 if you paid 6 100% return on investment because you took it there you could have got out of it with some money here and yesterday and guess what you woke up this morning and there it was shot up like a rocket ran up to 20848 so this trade here was not too late and Gallahad didn't do it because he thought it was too late he overthunk it he thought thought thought and he didn't do it now he's doing good but I just want to this is an example of overthinking but again you didn't do it you didn't say too late you got smack with a lost trade well first of all the Netflix 300 puts worked so the reality is that either way say you did them and you killed Netflix the Netflix puts with a loss say you did which is what you did what does that have to do with this trade here nothing what does taking Netflix puts taking the 300 puts last week killing them killing them with a loss and what does that have to do with this but I mean it's still you still have to answer the question what it has to do with this you used one trade to determine then what you're doing with another trade which didn't make any sense unless you're not telling me the truth that you mis-sized yourself in some regard now I understand you took the Netflix puts expiring the 19th for the 300 instead of the 26th but either way if you did the 19th took it then killed it you could have retaken the 26th they worked and again this has nothing to do with BYND and all the other Netflixs for the one for the 19th for the 25th and the 26th worked so I still your explanation doesn't hold water go ahead you flat out did not do this trade because you were overthinking it and even right now you're overthinking it you're trying to rationalize overthinking why you didn't do this because of another trade that was a loss again that makes no sense unless you're only allowed to do two trades a week or whatever unless you have a limit but I don't think you do I don't think you do so I you know you overthought this and the money just went but overall you're doing good but this was just like a once off and this was another great read to see that this would I knew this would I knew when I saw this it was going to go over the high I knew it I just knew it I didn't know I could have done it yesterday I literally called at 1230 and I talked to a couple of people they could go there today I just let you know it didn't but it did today anyways let me just see here people why is the market selling off does anyone know here selling off after hours I don't want to get too distracted but I'm kind of interested to see here why I'm not in the market long right now but I would like to know and then I'll go back to the webinar because there's nothing that I know of tonight that's collapsing this market is it a trade thing does anyone know DOJ confirms it is reviewing the practices of market leading online platforms could that be it DOJ will open up antitrust review of large tech companies ah that's it alright that's it hold on let's look that is it let's look at google we got a look at this right now here this is gapping right now here live that's why facebook is down that's why the market is down wow that was unexpected and this is two nights before everything reports holy crap on groanies facebook is tomorrow night and google and amazon are Thursday night the DOJ just came out with that and these things are going to crash tomorrow morning here let's look 1132 that's not devastating that's why these are all down yep I knew something 526 well these stocks are gapping down these are readable tomorrow I don't know if we're going to do them or not it's way too early to even look at these but let's just look 1774 these are down so that's why this is a pretty big bar but again I don't know what I'm doing with this but that's interesting so tech is down oh let's look at Netflix tech is down this is just a little bit tech is down because the DOJ is going to investigate them but we knew that anyways that was coming that was coming anyways alright let's get back to the lecture here anyways one system we train in the morning between 9 30 and 10 usually I've talked about passion your desire and motivation if you're interested in the class a class is called the golden gat course today 9 a.m. to 5 p.m. eastern time class is $59.99 US dollars class is online it can be anywhere in the world and take it deadline to sign up is Friday so think about this education is something you're giving it to yourself it's an investment in yourself that's what it is I'm offering for earning season one year free in the live trading room with the class Friday is a deadline for that so if you want to do the class this weekend which is a great support system this expires in the 26 any questions from anyone about anything well this is really going to pull the market down these tech stocks falling tonight I'm glad I'm not in the market long well I knew the volatility was coming this year I keep anticipating it and it hasn't really come yet maybe this is how it's setting up interesting any questions from anyone about anything at all if you're interested in the class this weekend email me at Melissa at thestopswish.com it's definitely a great time to trade with me whether you do the options and sign up for the options newsletter which is a great product there's no prerequisite for that you don't have to do the class to sign up for the letter or you want to just join the room you must do the class to join the room but you get the room free if you do the class this weekend gala had you've been doing great you've got to move forward stop thinking about past trades or losses or mistakes or anything you need to move forward and get out of your head you're doing really good there you better turn this around right by tomorrow morning any questions from anyone well we actually managed to end on time and I got distracted so that's pretty big news tonight though very interesting I usually teach the class about once a month once a month alright great everybody have a wonderful evening I am getting ready for bed up since 2am I will see y'all bright and early tomorrow morning some of you and the rest email me if you're interested in the class have a great day I know long day 20 hours