 Okay, is that any better? Volume up as loud as I can. I moved the microphone closer. Can everybody hear me? That's as close as it's going to get unless I eat it. Okay, good. Welcome, welcome everyone. My name is Melissa Armel and I'm here tonight to talk to you about trading. My favorite topic and yours. And so tonight I'm going to talk about how you can make six figures a year working 30 minutes a day. This is me. If you haven't seen me on TV, this is me. And if you have any questions, you can email me at Melissa at thestockswish.com or call me at 929-3200 Gap. Okay? Also, you can follow me on Twitter, Facebook, YouTube or Skype. If you'd like any questions, just reach out to me. I think calling me is the best way. I said 30 minutes. Time, time, time. 30 minutes is really what I'm looking for each morning market opens at 9 30 a.m. Eastern time. I'm in New York. So depending where you are, you may be in a different time zone. But the stock market opens at 9 30 Eastern. Okay? So for me, when I'm searching, I'm trying to look for really good setups that I can get in and out of trades or at the very least I can get in and try to get out. I may hold something a little bit longer. We're going to go through one tonight that I had a little bit longer but I could have got out earlier. But I'm looking for quick trades, fast trades, early setups. So how important is time as a day trader? It's extremely important. If you're a day trader, you have to get in and you have to get out between 9 30 and 4. And you really shouldn't be in trades like, you know, 3 50, 58. So really like between 9 30 and I'd say 3 3 15, 3 30, the latest. Okay? Any questions? Just write it in the room. So time is very important because you're restricted as a day trader, you have to get in and you have to make money and you have to exit the trade each day before 4. If you don't and you're in a trade and you hold it, then guess what? Well, then you're going to end up having to have probably a margin call with a broker or it will come out of your account as if you're in an overnight without any margin, even if you have the cash there. So it's you just got to make sure that you're very, very focused on getting a what I call a momentum move, a big move, a chunk of a move of some stock, whatever stock you're playing on any given day within that period of time and the time is between 9.30 and 4. Now for me, I'm looking for setups early, morning, morning, morning. Okay? So what time of the day is the most volatility? Guess what? The morning. So I'm looking for setups in the morning because I'm trying to capture the fast move because I know that I have to get in and I have to get out as a day trader between 9.30 and 4. So let's talk here a little bit about volatility. What is volatility? Volatility often refers to the amount of uncertainty or risk related to the size of changes in a securities value. A higher volatility means that a securities value can potentially be spread out over a larger range of values. This means that the price of the security can change dramatically over a short time period in either direction. A lower volatility means that a securities value does not fluctuate dramatically and tends to be more steady. So I want volatility. I'm looking for the volatility. Got to get in the right direction. Of course, you have to get a stock in the right direction when you take a position no matter what. Whether you would take a trade and be in it for the next 12 months or take a trade and be in it for 12 minutes you have to get it in the right direction if you want to profit. So this is just simple common sense. You always have to get the direction or you're basically going to lose. So that's something that I focus on. So you have to again, focus. And how do I do that? Well, I try to make it less confusing by getting organized in the morning pre-market. So I take the time before 9.30 before the market opens to focus, focus, focus on what I'm supposed to be doing trading wise. I say what do I want to trade today? What stocks do I want to trade today and in what direction? Either logs or shorts. And then I look for the setups to get in and out fast into the morning part of the day. So time is very important as a day trader not only because you have to get in and out between 9.30 and 4. But also if you're going to trade then you want to train during the time that has the maximum volatility and the maximum move that you could possibly possibly get. Okay? Everybody understand where I'm going with this here? So I decided a long time ago 12 years now, 2008 when I started trading to focus on gaps because gaps tend to have big moves on the day. Not every single gap, but many gaps. You have to get the direction right and you have to get the timing right. And I also found that gaps have a lot of volatility and a lot of momentum and obviously I'm looking for those when in the morning. So I can get in and get out get in and get out get in and get out. Because again, that is critical if you want to make money as a day trader. Otherwise you're going to be stuck in something waiting, waiting, waiting for it to go. And again you have to get in and out if you're trading specifically on margin because if you're a day trader you're probably trading on margin. Alright? Otherwise you need the cash to buy the stock in full with the price point which would not be really then qualify as a day trader. Any questions for you so far? Okay. So let's get to what a gap is. For those of you that don't know that is what I focus on. I'm going to show you here a gap. This is one right here. Boom. EXP So the stock gap last week. Stock closed up here the night before. Boom. Opened in the morning here. So the stock closed up here around 1.35 at 4 o'clock Eastern time. It closed here and opened here. Where did it open? It opened around 1.15 and changed the stock gap down. There are bullish gaps as well. Here's a bullish gap. So this is a bearish gap. Over here back in October early October the stock had a bullish gap. This is bearish. This is bullish. Now what happened on this one? Stock closed here 1.36. Boom. Gapped up. So closed here 4 o'clock at 9.30 in the morning. It gapped up and opened at 1.38. Price opened higher. So this is a bullish gap. This is a bearish gap. You don't go along every bullish gap and you can't short every bearish gap. So I created a system to determine something for example like the EXP we did last week if this is a short or if this is a long. Well I determined it was a short. This was a really nice read of this in the pre-market here. The stock had so much bigger of a move than I ever expected which I pretty much figured out very early in the morning but it kept going all day and at one point then I even said and then it ended up I think the low in the day this was this 97 and change but this is a great example of what actually can happen if you if you're looking for something for volatility momentum I only had one trade in this but you could have literally traded this all day this was had lots of opportunity you do get these kinds of gaps in earning season. You will see gaps like this in this month period and I had the right pick so we're going to go over it and actually this looks lower here I clip this from today any questions here so far so this is a gap okay so I'm looking for the time of the day in the morning to get in get out quick now the fact that you could have played this all day as an anomaly because most stocks do not have moves like this on any given day even good gaps like I find but you will see them and this was a good example okay now that was a daily chart okay so now I'm going to be looking at only one minute chart some of you I think we're in the trading room open house I had for two days last weekend I called this train again clock is behind the one minute close up here at four o'clock boom open in the morning here this is a one minute chart this is 930 931 932 933 934 935 we shorted this stock boom shorted it boom got in got out boom boom now as I said earlier this ended up going just crazy birds okay in fact looking at this here talk about the first 30 minutes of the day the stock from between 930 and 10 a.m. actually broke up in here it fell all the way down to 101 within that first 30 minutes didn't hold this all the way down here but I just want to show you again volatility how you find it and pick it and play it and how much money you can make with this but this was a really nice trade either either way here was the trade entry was 114.30 stop was 116.10 boom 2500 shares exit 111.75 and as I showed you I'm going to go back to the chart the stock dropped $10 plus even before 10 o'clock on this but again you're never going to get out of a short the loan you're never going to get out of the long at the high that is not my goal my goal is however to always pick the best stock every day to play the direction right and that's something I've accomplished to a very very high degree of certainty which is part of the reason for my success this is a really nice profit as well you can't argue with a move like this and we hit it boom so 6,375 I'm going to go back and we're going to look at this here again boom boom boom boom and again if you held it you made more this kept going so I'm looking for this period here so where you got out here really I mean it was totally on you but I had the pick I had the call and here's the move really nice move in this and even today now I'm just seeing this chart this looks lower now again I'm not doing this here and the market's at the highs but this this this is weak okay so this is what I look for every day today tomorrow the next day the next day today I had the trading room closed Veterans Day Holiday Bond Market closed market was slow today but I will tell you that this month November is a busy busy time so we won't see other moves like this but this is a good example of what I'm looking for the momentum, the volatility and the 30 minute period day trading is about getting in and out in and out in and out and whether you're in and out in several seconds or several minutes it doesn't matter I'm going to show you another trade here in a minute that I held but and you could have held this you could have held this in fact this had such a big drop off that you could have put the stop at break even and just went away and came back before the close but you know I don't I don't trade like that any questions here so far about exp about gaps about day trading before I keep going so again time in the trade in exp was quick quick quick quick quick less than 30 minutes less than 10 minutes we were in that trade although you could have held it down you could have held it all the way down to 10 o'clock but either way what I look for and qualify for in the pre-market is to find what gap to play what stock is gapping to know where to go longer shorted and to know and see in the pre-market that I can take an entry in the stock that's going to have a move a big move that had a Jaimungo move but any kind of move where I can profit that I can get out in the first 30 minute period and that exp he had such a big move that it didn't matter even if you only took a couple hundred shares and if you're new to trading and you have a small account you should be trading with a couple hundred shares you shouldn't be trading with a couple thousand shares okay you have all the time in the world to make a lot of money once you learn how to do what I know and it really doesn't take that long to learn it okay it's practice it's like one of the things like I'm in a system now you know like you hear this all the time people are in the trading zone or whatever it's called there's a book out there I never read it called something like that but the fact is like once you use something and it could be trading it could be riding a bike it could be playing a sport it could be playing a musical instrument anything anything at all where you're doing it every day it becomes like just part of you when you don't really think hard like I don't think hard when I'm choosing my stops I don't think hard when I'm raining them I don't think hard when I'm doing them when I start to think really hard then I realize something's off okay because it's second nature to me now because I've been doing nothing but gaps for the last 12 years makes sense so if you're overthinking what you're doing with your strategy trading or if you don't have a strategy at all you need to stop because one the thing you're doing may not be working or two something's off with what you're doing that it just doesn't work white or you don't understand what you're doing because it shouldn't be something that you have to think so hard about now MCD this was one here closed here gap down fell I have an options newsletter called puts in this and also the day train this one here was another one closed here gap down fell so this was a short and puts this was a short and puts day trade short day trade short puts you could have done as a day trade or hell and again same thing here with that one now let's take a look at this one this was on the 22nd okay I'm gonna go back here the 22nd was this day here see this is another big fat bar high up in here is around 205 low in here is around 200 another beautiful beautiful beautiful move okay so MCD open dropped fell off a planet okay we ended up shorting this here pushed back Chuck Moore took more dropped fell and then you see where it ended up now this was one where I could have gotten out of earlier than I did I ended up holding it I saw that it was going to get to the bigger number I saw it was going to get to 200 plus I ended up deciding to hold it and here is the move on this one again the 22nd this is the 15 minute chart boom this is the first 15 minutes of the day this is by 1030 again you could have shorted this here and got out in 30 minutes but I want to show you that sometimes you might want to hold something if you have time if their target is still left and that's going to teach in the class 2 that you might want to hold it and this kept going I felt that 200 was realistic in this and it ended up continuing through that broke 200 okay here's a follow through then the next day so this is the 23rd here's a follow through on the 24th the day that it gapped here the first day here was the 22nd this was McDonald's I forget I think this was earnings and the second gap was news yeah I think I think it was I think this day the 22nd was the earnings and the one McDonald's okay any questions from anyone about anything at all now let's talk about the option here so this is MCD okay this was put so I called as well I'm just showing you this here because you can day trade options even though in the trading room I'm calling the day trades the options newsletter is available if you don't have time to day trade in the room you can day trade actual options okay so this one here again I called the 202.50 and I called this in the pre-market 904 market open at 930 and the stock dropped all the way down broke 200 falafel planet so this was one that just fell fell fell I think a great exit on this was the first day as a day trade however this continued so if for some reason you do not have a margin account if you don't have a day trading margin account you can do options but then you have to follow the restrictions of doing options if you're not going to do them as day trades in and out in this case here this McDonald's you could have taken it on the 22nd and exited it on the Tuesday or the following day or the Thursday or whatever day that was yeah this was Wednesday Thursday Friday I think it fell down any questions by anyone at all so I'm giving you some different ideas here you can do day trades you can do options trades whatever you want to do this was taking it on the 22nd and ending the 22nd because that's what I thought was a good good a good idea I did not know this would fall for a week but again if you held it you held it but again your your goal is never to get out of something at the low the day in a short I thought this was a fabulous fabulous trade I'm showing you here three different risk units so you can see what the potential is for the amount of money that you have that you can risk so cost of the put was a dollar ten okay this was the two or two fifties seventy contracts with a seventy seven hundred risk exit three fifty five boom profit seventeen thousand one hundred fifty now intermediate trader tracking cost a dollar ten twenty contracts risk twenty two hundred again exit on the 22nd profit forty nine hundred you could have made more this kept going but I just want to show you how your profit margin your return investment here no matter what you did double on the day now again you have to be able to trade the option as a day trade if you want to have done this in this case here with McDonald's it wouldn't have mattered if you had held on to it overnight you actually would have made more money but for me the one thing that I've noticed particularly now this is before the market broke out over the highs which we're in this position now where I have to kind of see where we go here we're strong the last like two three days pretty much the last week but I mean there was a period of a couple of weeks in a couple of months where the market was really really wild and I said everybody take profits take profits take profits and when you have something where you double your money in a day I don't care if it's a day trade I don't care if it's an option trade I don't care if it's a swing trade that's real cash and you don't get trades like that every single day so I think you have to book it I think you have to be smart I think it's very very important I just do okay any questions now beginner trader cost 110 number of contracts again 10 this is $1100 risk exit 355 profit 24 50 okay so again here was this closed here gap down fell fell fell fell fell fell okay fell again so in this case here here was a 22nd 23rd 24th 25th actually that was that might have been Tuesday yeah it was Tuesday this happened so Tuesday Wednesday Thursday but the last day was Friday the expiration so again I mean there's times you can hold things into the last day this is well through the strike you just have to be careful okay here was the day that we did this I think it was last week so this is the 4th of November again fast trade so the other one I held but you could have got out early this one here closed here gap down fell dropped rallying boom got the drop again another short in McDonald's here's the 15 minute dropped fell boom based out fell again this is on November 4th okay so in this case here we took a stop the first trade in McDonald's failed had the stop and put the stop got stopped out added to this one didn't work out second trade in McDonald's this is on the 4th of November worked cover the loss from the first trade and still profit on the day okay so you'll learn this in the class with me too I sometimes will do a retake not all the time but I did like this gap I did like this lower I still like this lower although I don't have any trades on in this right now this is a one minute chart this is a 15 minute chart I'm showing a couple different charts in here this is a day chart the entries that we're taking in here though are in the one minute chart but I'm showing you different charts because I do look at all the charts so I look at I look at all these charts quite frankly but these entries here that I'm calling in the room that we're doing in the morning one minute charts now that being said you cannot trade the one minute chart all day you can't do it you're going to get tripped up doing that why because it wiggles and jiggles and wiggles and jiggles and moves around a lot with the market so you may love something love something that have a very precise entry in the morning and then as the day goes on a lot of things are affected by the market you don't have the same precision on the one minute so that's just a warning you know so again that's why I also like to focus in the morning but you get the volatility in the morning you get the momentum in the morning and again I'm saying the first 30 minutes of the day in this case here this fell off here into 10-15 that's fine that's still the morning period okay so one minute for early I would not trade the one minute chart at two o'clock in the afternoon okay it's just not going to hold it's going to lift and push around and flip and drop and do all kinds of crazy things all right so that was this take here now this is the daily had a nice drop again gap down close here gap down boom McDonald's okay so this I called another option in this too and there was just a ton of trades in this this was one just worked out of the game so cost was cheap $1.65 advanced trader risk $74.25 exit $295 in and out in and out in and out $58.50 again took it cut out the same day boom so I mean and also I will tell you this if you you know when you're trading I don't care if you're doing day trades if you're doing options or whatever you're doing it's great to hold things and sometimes get bigger moves I'm not saying I never do that sometimes I do but I have to see that I'm going to have something there that's going to tell me that that's going to be able to follow through whether it's the market whether it's the gap rating whether it's the way that it closed or it didn't close or something like that okay or some kind of data that's coming out news whatever so the reality is that you're it's never over to the fat lady sings in the money's in your account it's great to say well I'm up this much I'm up this much I'm up that much yeah that's great and my goal is always to flip it over one this didn't quite meet the honey mustard but it got pretty close and that's still real cash and once you've booked the money then you know that it's yours and also then you have the money in your account to take another trade because once you're in a trade that money is number one still at risk until you get out with the profit and number two you don't have that money accessible to use to invest in another trade again whether it's an option or whether it's a day trade it's still sucking up either your buying power as a day trade or your cash in your account as an option so I've been calling a lot of trades this year in the options letter and I call at least one trade a day in the day trading room in busy season sometimes we do two sometimes three I mean if I see it I call it if we want to make money and it's there we do it okay so you've got plenty of chances and plenty of opportunities I'm still very focused I don't have the trading room open all day and I'm not calling even 10 things a day one one or two okay and they got to be good and they got to be quality but that's still very a small amount in the overall sense of the way a lot of people tend to trade I think a lot of people tend to over trade trading rooms over trade people over trade and I don't think you can do well with that you can have a lot more losses over trading than you do being focused on the trades but when I say that you're still booking the money then you know that it's yours it's boom it's there it's in your account and then you have it to take the next trade that I call whatever that trade happens to be because nine times out of ten I'm going to call another one could be today and could be tomorrow follow me MCD was a really nice trade huge profits in that huge profits in that and actually I put the day trade here in CVS I didn't put the option in CVS I sent an email about it today if I have time I'll pull up the chart CVS was another one huge profits in that now MCD a bearish call CVS was a bullish call so returns can be incredible if you're focused on doing gaps and when you think about the annual returns it's very very different than anything you could ever make in a savings account or a CD or even just being invested in stocks because when you're long-term invested so your retirement account or something like that you can't take the money out okay you can't take the money out you can't use margin this is about maximizing the cash that you have for the period of time that you're trading again between 9 30 and 10 where you're in and you're out and you're looking for the move and the qualified move where you take it in and you take it out in and out any questions here so far from anyone so the other thing I want to talk about here tonight a little bit getting into oh I do have a question here do I have the defined watch list I don't I don't like post a watch list in the room if you join the trading room after the golden gap course then I rate the gaps in the morning and I put in what I like in the rating I put it in if I like MCD I put it in the room top watch MCD I might have two top watches so I don't have a large a large list no because I do the work that's the benefit of being in the trading room with me Cappy's in here right now she's fairly new she did the class two months ago she knows what I mean so the bottom line is I don't put a large watch list you can rate the gaps yourself if you do the class you should but I handle all of that and then I put in the top one that we're looking at whatever one it happens to be make sense but you can make your own watch list and then once you do the class you can go through and rate everything but you want to qualify it down you want to narrow it down to one or two sometimes I'll watch two sometimes I'll watch one okay anyways getting back to what I was saying here I'm looking for institutional money I'm looking for institutional money in the gap okay I'm looking for it in the gap and I'm looking to see where's it going to take it where are we going here so here was the spy this is a breakout that I caught on the market as long as worked this was a nice breakout this is real market is higher in fact I'll pull up here if we have time tonight to see where we are today we're headed to 310 the spy so the reality is that we based out based out based out but then we broke out here this is real so money came in lifted the market here in this gap up close to your gapped up rally and gapped up again and then I know a lot of people shorted this and looked at as a double triple top and shorted the market that was crazy town the market the market today I guess it just proves on a low volume day today how we held and rallied and got bought and less some crazy thing happens tonight tonight tomorrow morning we're probably going to gap up tomorrow and run so I mean that's just I'm seeing it so I'm looking for institutional money in the case of the market here it's buying but you gotta get in this mindset and I like a lot of people are in this mindset where they just like buy hold buy hold buy hold in fact Allen had I see you here that was a big contention with you you wanted to buy and hold all the time or short and hold all the time the hold hold hold hold hold hold is not the thought process or the objective in making money in the market I probably never had the difficulty because I never traded until I started I never invested in the market till I started in 2008 I never did anything at all in the market until I started day trading so for me I didn't have to make any kind of mental adjustments but if you're from a past or any type of educational system or if you've ever invested money in the market and you have this buy and hold thing and I know I have people there are people in my trading room even now that are still in this buy and hold mentality that I have people that still have a difficulty like the idea of even shorting like what is a short when you short a stock it's like you're betting or you're predicting that the stocks gonna fall you're shorting it a lot of people don't even can't even grab their head around that concept it's like you're shorting a stock at $10 when it drops to $9 you make money you make a buck a lot of people understand the buy concept not the short concept but shorting something I do a lot I do more than I even go long okay and as far as holding again there's specific times to do it MCD was one of those alright but you gotta watch what you're doing and let's talk about CVS this was a nice one here this was the first day came out this was the earnings stock close to your gapped up ran up boom got to the target said I said 71.72 boom okay this is CVS this is a fast fast trade now what happened here in the morning here's the buying here's the institutional money stock gapped up this is in the pre market you could have rolled out of bed and seen this here seven o'clock seven o'clock seven fifteen eight a.m. so I knew right away this is the best gap this was a long I tip it like to short I said oh do do do do do this is the best gap today and then look at this shoot boom boom and it ran right up so here's the open this is the pre market so I took that off because this is how I like to trade with this I take it off we went long won't take it get out take it get out take it get out time of the day 9 30 boom out before 10 o'clock and again I caught a bunch of options in this too so entry was 69 60 stop was underneath because we're going long and CVS this is a long not a short so we entered at 69 60 stop 68 80 3000 shares exit 70 62 again in out in out in out 3060 nice profit usually for a dollar move in a stock at this price point we got it now if you're a beginner you only want to take 300 shares you could have made 306 bucks again I'm looking to turn it over turn it over so this is one over of your risk of your initial risk it's a nice move that's what we're looking for typically every day some days I get less some days a little bit more okay EXP was larger than expected some of their trains are less than expected I can't predict that because I don't know what the stop the difference between the entry and the exit is going to be on any given day when I'm trading and I'm looking for what to do I don't I don't know the exact entry the setup or the stop or anything until I'm watching it live that's the benefit of being in the training room with me because I'm calling it calling it and seeing it and then we're doing it any questions so I'm looking to really get in and out of trades ideally in 30 minutes that's that's the best that I have to give like when I am in that mode I sell I just excel okay now that doesn't mean that sometimes it doesn't mean that it's good to hold something like MCD and I look back in EXP and say well I saw what it was going to do and where it's going to go but by the time I had I was ready out of the trade and it was too much money not to get out okay being greedy never pays when it comes to the market and the people that start out that make money end up losing when they start to get greedy and then they go into that default mindset and then they're always chasing their tail okay so it's important to understand you you have to just have a consistency with what you're doing and for me it really is the fast trades I find out when I veer off that I'm not talking about MCD I'm talking about when I try to like give something a chance a little bit too long too long of a chance then it just it never never pays I say why did I give that why did I give that too long I gave it too long it needed to prove itself to me do you know what I'm saying like it and it needs to do it needs to do it fast okay same thing with the market so for me I'm focused on one strategy one pick and I'm in and out and in and out it makes it easy if you work in the west coast different time zone your three hours or two hours and if you're on central time zone you can get jay trade in the morning and go to a job and depending on where you are in the world might be night okay so you can get out there in the world and still have a job and trade in the morning depending on your time zone if you want to do this full time you're in eastern time zone then that's fine too but I've definitely found that in reference to trading the in and out then you know the money's there then you know the money's booked and as the day goes on you get emails you get texas your phone rings you get distractions you turn the tv on then you lose conviction in what you're doing there's just so many things that go on that you can be perfect for 30 minutes a day you can I can I am you it's too hard to be like that for six and a half hours of no distractions because life gets in the way now I'm single but a lot of people have kids and they have spouses and they have dogs running around the house you get distracted okay the focus counts it makes a difference it doesn't make a difference in pennies and dollars it makes a difference where we're talking about thousands of dollars it's a difference between being in a trade of being up six grand and all of a sudden turning around and being in a trade and you're only up two grand and then people do this all the time they try to get it back to the sixth grand they were up and then all of a sudden instead of making and booking the two grand where they realize they missed their exit then they end up losing in a trade they were up six and they lose so you know the focus is so important okay and again it's never over to the fat lady sings and you have that money booked okay and that's one of the reasons I have the trading room and close it down early to force the discipline alright show it's about the focus on volatility focus on the time of the day which is very important as a day trader okay and I even think it's important as an options trader even if you want to hold something overnight you still this time is important for options the time that you're entering the options trades and the time that you're going to look to exit the options trades you still have to look for the momentum volatility at those different time periods it counts it counts to maximize your profit again your balls and to get out of the high and it's not to get out of the low and the short but you still can find a way to maximize your profit and it's a balancing act and it's a process and you're learning you're learning along the way and making money along the way too if you're following me any questions from anyone so far about anything I've talked about here tonight I don't know if there's any gaps tonight Gallahad I see you're here if there's anything you want me to look at I will look at it here if we have time show anyways the market as I said this is a chart of the cues I had this market is is starting to look like it's going to break out again now this was the CVS again called a bunch of options in this and this continuum we'll look at the CVS and we'll look at the market what we're done here but if you want today trade it's about size and once you're starting out I say start with small size a couple hundred shares and then work into the size where you size it up okay but if you if you take a thousand shares and something that's a thousand bucks and you could have had that in CVS or two thousand or four thousand again you have to have the buying power to take the trades you can open up a retail account or you can open up a proprietary day trading account you don't need as much money in a prop account and you get more margin but I would be careful about the places that you go to retail accounts you can virtually go anywhere alright and right now I think a lot of retail brokerages aren't even charging commissions so that's something new in the last few weeks I do not have many indicators I'm reading the price that is the main main main main main main focus and the more things you have in the chart guess what the less focus will be on the price and what matters only the price people live and die by their indicators I could trade with nothing I could trade the tape I'm probably one of the only people that I know of all the people that I know in the market from TV on up since all the people that I've ever learned from and talked to ever since I started in 2008 I'm probably one of the only people that could trade based on the tape like when I was on TV a lot last year I haven't been on as much this year which is probably why I've traded more my schedule was way way too consuming last year for television and I'm more focused on trading this year but when I would be at Fox last year when I was on like five days a week I didn't I didn't have my charts I didn't have my charts at all even more how good I was because I would need to see the price of something and I could tell what it looked like and I could tell what it was at just knowing the number I could trade on the tape and that is phenomenal and I'm not saying whatever go back to that time but I'm saying that that is how focused I am on the price and I'm telling you when you get into that mindset when you are so when when it when all the other indicators and all the other things when you stop holding a grip on those your own confidence and you can see this you can see this in me because you can hear how I talk and how I call the trades your confidence will increase when you understand the price and you stop relying on the indicators then you won't feel like like because a lot of times what happens is here's what happens with people they'll see something lining up and then they'll see another thing that says the other thing so like they'll see everything's lining up for this thing and then all of a sudden this other thing tells them something different they say oh crap I don't know what to do this thing says this and this thing says this and it's not the same I don't know what to do like people are fine with indicators when everything is like do-ba-do-ba-do-ba-do but how many times does that happen it doesn't happen every day and doesn't happen every week those are the ones that are easy but that is not normal and that is not trading it's a reality that you would live with and to be successful in that's like one in a million so it's like a lot of times you'll have oh all of these things look perfect and then over here it says something different so everything here says it's a long then everything here says it's a short and then you say oh crap now what do I do that's why indicators aren't a strategy you can't follow indicators to get anything out of it I don't follow indicators because there's no strategic thing there that's going to tell you anything it's a computer that makes it which makes different lines that somebody made up whether it's a moving average of Fibonacci or whatever I have very few indicators in my chart but if I took them all off I could still trade because the only thing that counts is the price is the stock getting bought or is the stock selling off is the stock price moving lower or is the stock price moving higher and that's important whether you're long or short say you're in something, say you're in Apple I'm going to pull this up right now say you're in Apple and this was another beautiful call this was an option here say you're in Apple get close to this I've run out of I don't even remember how many trades have calls in this in the last week they're all worked today I call the 260 250s these work too these are fabulous calls I'm making here but the reality is though that you look at this you say okay well here we are is this getting bought or is this selling off well this is very easy it's getting bought okay now this is easy this is an easy one so if you looked at 10 different things it would show you whatever indicators I don't know but I'm just saying like you need to be able to do that no matter what this case here this is easy the stock open gap down open open neutral and rally every single solitary second of the day okay rallied $4 plus in the day made new highs today okay so this is like easy you could say well it's getting bought Melissa yes but not every day is this easy to see that and you may not have seen this when I call the trade so I called this trade I screwed that up sorry here let me tell you the time I called the trade because I forget what time did I call that trade I saw it was going to break out but there was a million trades on the two sixties were on I mean there was just so many trades on in this but I call another one because then I knew some people got out of the two sixties Friday I called 1149 so let's just see here what I saw let's squish it here now I'm going to take all this off I'm going to get rid of everything here in the world just to prove my point that's just a good call I'm going to get rid of everything over the price okay here we have there's nothing on with the candles which depict the price so here we are we open rally rally rally right in here I'm like oh this is hilarious here this is going to push up and so I called the trade right in here and here's what it did did it like 10 minutes after I saw it and I kept going you know you don't need anything just read it so this is flat we're not open markets close it's 520 at night but I called this trade 10 minutes before it went but anyways now that you look at it you're like oh that's you know we can see that's getting bought so you wouldn't short this would never never never never short that now tomorrow I may change my mind but for now this was a nice call today you could have got out of it today again if you're still in it fine if you are still in it you have to think this has more room to run but this could be done today this was a nice trade it was money Galahad saying DXC let's look at that before I take the charts off what the heck is this did I retrieve this I don't know what this is here this doesn't seem familiar to me I don't know if I've ever traded this but it's definitely gapping down well this is a watch I mean it appears to have volume I don't know if I've ever done this huh doesn't ring a bell but anyways this is gapping down there you go I'll look at this tomorrow this could look a lot different this is really tanking here though see how this closed here tonight 2939 boom now right now this is live Galahad found it it's at 26 and change now I don't know where this is and I don't rate things at night I wait till the morning but anyways this is gapping down I'll look at this tomorrow morning I can't remember if I've ever done this if I have I have no memory of it wouldn't you wish you though alright let's go back I forget what I was saying anyways you gotta focus on the price and sometimes the less things you have on you're not gonna get confused and you're not gonna have to worry about do-do-do-do-do and the problem is that if you are if you are too focused on the other things then you may miss what the price is telling you there are times like in the apple like today where it's very very easy but that's not 99.99999% of the time and tomorrow you may have a different viewpoint because I might too I don't know I don't know but apple moves the market and the market goes with the apple together a lot anyways if you have goals and one of your goals is to do this and make six figures a year you have to chunk it out you try to have weekly monthly goals some days you're gonna take a loss some days you're not gonna achieve your daily goal but some days and you're gonna make more than your goal and that's life okay that's why you stop having an unlimited amount of risk and you can't do that so you chunk it out you look at your entire month and say okay this is my goal how much do I have to risk to achieve that goal and typically like I said I'm looking for one-to-one but it's really about that time of the day time of the day time of the day time of the day looking for the momentum okay I'm bringing this up again about the CVS just because this was a recent one from last week that carried through but again I felt 72 was 100% realistic took a couple days to get there but again I teach targets in the class you can do options trading you can do equity trading you can make money doing both I have people that are on the options letter that are not day trading I have people in the day trading room that are on the options letter I have people doing both I like doing both because it's a different way to make money and I think you can risk more when you do options because you're holding overnight to get bigger moves I said it doesn't mean that I'm holding every option at all overnight because you can day trade options and it's really just about what works for you with your time with your schedule what your interest is I called a bunch of trades in this obviously these worked this flew this was the 69s that I called 754 in the morning so I knew this would work an hour and a half before the market opened but I wouldn't still be in this because I don't know why you're still up in it anyways if you want to trade for a living you can do it it's realistic but you have to think about it in a realistic manner it's going to take work it's going to take time it's going to cost money to do my class and learn what I know you're not going to take $500 and make a hundred grand in a month that's not realistic it's just not you have to think about what it's going to take to make this kind of money but the sooner you get started the sooner you're going to achieve your goals your goals are achievable they are there's so much money that you can possibly make in the market when you look at the people that you see on television that are millionaires and billionaires they have money invested in the market and they make a lot of money in their investments now how did they ever get to that point they didn't do it in a day they didn't do it in a week okay so I mean a lot of times people get sucked into having these wonderful wonderful dreams but then they use fantasy instead of thinking about reality reality is you can achieve your dreams but you have to have real solid steps to get there so if you're realistic and you can stop and let go of the fairy tales you're going to you're going to be so stronger as a person as your confidence your conviction you will be so much more centered you will make better financial decisions not just in trading and other things in your life when you when you understand that you really can achieve the goals that you want and you know the hard work and steps that it's going to take to get there and the money it's going to cost and your time as well then you are going to achieve your goals but you have to stop believing in fairy tales and one of the most difficult hurdles that I have had as an educator and I never knew this before I started and if someone had said Melissa you're going to have to deal with this I would have said oh gosh are you kidding me I might have rethought it but I'll tell you one of the hurdles that I've had of teaching people as an educator is I am shocked to this day I don't know if I'll ever stop being shocked at how many people individuals real people you people here some of you here may even think this way a lot of people I've talked to they're they're totally totally totally and la la land about how to become successful and then they wonder why they get caught all up with all kinds of crazy people telling them nutty things fairy tales and then they get upset and say well I failed at this well why did you even think you could do that why did you even think you could take $500 and make a million dollars why did you even think that was possible that's a fairy tale that's a fantasy you're not going to become successful for real believing in that nonsense but I have struggled with that as an educator to connect with people because I can't believe how many people believe that crazy stuff and it is crazy town USA okay but you can be successful doing this and again it goes back to moving off of the greed if you can make six thousand dollars in something that's great if you could have made ten thousand well that's great but six is really good so take the six do you know what I'm saying like if you're risking a thousand and you can make twelve hundred that's fabulous if you're risking a thousand and you could have made two thousand yeah that would have been better but how could you have foreseen that it's a fairy tale sometimes to know you don't you don't know you're not always going to know sometimes you might and have an exit that's absolutely phenomenal and sometimes we do sometimes we do that happens that happens it happens a couple of times a year it might happen once a month but it doesn't happen every day okay and that shouldn't even be your goal your goal is to make money and be consistent and stay grounded it's the it's the mentality it's the groundedness that's going to help you make good financial decisions with your money with your risk okay because you are taking risk when you trade and if you are off center and off balance then you're not going to think right about your risk and you're not going to think right about what I'm teaching you either which you have to pay attention and what I'm doing works I mean this year I was talking about my assistant gyro who helps out with the trading room it's been a phenomenal year he agrees with me now he day trades and does options but that being said he's not the long term person he does day trade but he prefers the options because it's his personality it's his personality and so it's whatever your personality is he does both but he prefers he prefers the options so I don't know what your personality is I don't know what you like me I like the quick ones I always like fast fast is good to me I'd rather get out of a trade by 10.15 if it goes on to work it goes on I've got the rest of the day to myself to do whatever I can do a webinar and talk to you I can go get my nails done so I mean for me it's like that's my personality so it's whatever your personality is again I don't know but your dreams are achievable with money time and work don't get into the fantasy stuff because it's going to hurt you in the end that doesn't mean you can't trade with a small account you can you can and you can take a small account and you can build it in a reasonable period of time with a reasonable risk okay if you open up a account with $5,000 and you risk that haul them out in one trade that you can see is crazy that doesn't make any sense okay you have to think of it like you're going in you're applying for a job and you want to get a really really big job say at some company I don't know some Fortune 500 company you want them to respect you and take you seriously and they're going to pay you a lot of money if you do well if you talk well and if you think well and if you write well and if you give them good advice and decisions and things that have to be done they're going to think you're crazy if you take unnecessary risk and have unnecessary fantasy kind of goals with a certain amount of cash so why would you do that with your own money why would you think that with your own money you shouldn't okay you have to be realistic and once you do well once you start to be consistent it becomes easier and like I said for me if I have to think too hard about something I realize it's probably not good okay like CVS I was trying to find a short I was trying to find a short I was trying to find a good short whatever day that was last week I just couldn't and I'm like why am I doing this CVS is good boom no thinking rate the gap it rates well that's the one we're doing it so it was like I was trying to find a short because I prefer to short I really do but CVS was like screaming in my face I said oh this is and I just laughed at myself because I'm like because I do prefer to short but CVS was great so I was like okay fine so you just get in the groove you learn it day training produces income week by week it's not investing you can learn how to do this from me but you have to have goals you make the procedure how you're going to achieve those goals you take the steps and then you get out of the fairytale thing and then you're just going to do so much better off for yourself you need to help yourself so much once you get into that mindset where you know you can do it and this is what's required and you're going to you're going to do it you're going to become stronger you're going to become better you're going to become better over time and you will make more money and you will become more successful and you will become wealthier when you understand what's involved and get out of that fantasy mindset any questions from anybody here so far Gallahan is that the only one you see tonight anyways I have a rating system if you wanted to do the class you'd learn it it measures gaps by rating them on the daily chart to find stocks to trade that have number one a high probability of directional bias for the entire day big move in the day and early confirmation of the bias and move between 9.30 and 10 precise entries also would follow through and a good risk to reward target potential so the class is $6500 it's $64.99 don't worry about making the cost of that class back in one trade you will over time you will learn it in several trades don't worry about making it back in one day the system is called the golden gap system I invented it it's a 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 and when to trade in what direction we're looking at 26 points that's the only thing I do whatever but I'm looking at institutional money and price patterns and gaps you don't need to do anything else you just don't and I don't and I never will because this works although I'm just going to take more risk so the class is called the golden gap course it's this weekend November 16th and 17th only two more classes this year this one this coming weekend and one in December and that's it if you want to get in the deadline is a 15 the deadline is Friday the class is online you can be anywhere in the world and take it Kathy said I'm a great motivational speaker thank you thank you very much Gala had a yes when you don't see any other gaps any questions from anyone about anything so far thank you Kathy so think about it this is an investment in yourself I also have the options newsletter this is $59.99 it's one year of all the options trades they're emailed to you there's no prerequisites for this you have to take the golden gap course in order to join the live trading room and get the calls but again I'm doing an open house if you want to come this week class is not recorded you have to be there live and you have to be there live like how could you possibly not be there live you want to be there live you have to ask me questions cause you're gonna have questions and you need to be there live my classes are always live you need to be there live no recordings allowed because you're gonna want to ask me questions cause you're gonna have questions I guarantee you're gonna have questions okay you're doing this because you wanna get it because you want to understand it because you want to you want to get good at it that's the reason let me just quickly look and see if there's anything else Galahad is looking at any other questions from anyone at all. Let me just see if there's quickly anything out. No, I don't really see anything tonight either. But there's a bunch of things tomorrow. Bunch of things tomorrow morning. But I will look at the one the Galahad said. Any questions from anyone about anything at all? Listen, if you're interested in a trial this week, email me at Melissa at thestockswish.com. Kathy, are you there? Kathy, I'm going to call you as soon as we're done here about something. Please let me know that you get this message. Two more classes this year, that's it. And I think people should join this weekend so they can start trading before the end of the year. No, not you, Kathy. Kathy, support. Hotcom, Kathy, sorry. Listen, have a great, great evening, everybody. And have a good trading day tomorrow. Very good. Thank you.