 We're gonna try this again. Let me know if everybody can hear me and see the slide. Good? All right, if you have any questions, you can just type it in here where I put good evening. Excuse me, and as we go along here tonight, if you have any questions for me, you can write it in the room and I will answer the questions out loud. Okay? Welcome everyone. Today we're gonna talk about how you can make money day trading and how you can earn a living day trading. Really, the amount of money you make day trading only depends on what, how much you risk, assuming you know how to trade. So, a lot of people make attempts at becoming professional day traders. Some are successful, many are not successful. What is the difference between someone that is successful and someone that is not successful? Well, one of the main things is that people that are successful trading, whether they're day trade, swing trade, do options trades or long-term investors, is that they have a specific system or strategy that they follow. Okay? So, I created a method for myself. It took me about three years, 10 years ago. That's really hard to believe. 2008. That was when I began trading. It seems like forever ago. It was 10 years ago. And at that time, I had no idea what I was doing. But one day, I traded a gap. And actually, it was a short. And actually, I made a lot of money. So, I realized that there was something to it in that very specific day in that trade. And I said, you know what? I'm gonna figure this thing out. I'm determined to do it. Of course, it took me three years. It took me three years to develop my system. A system now that I teach in a class to other people and I have my own business and my own business is called the Stock Swoosh. So, this is me for those of you don't know me. If you have questions as we go along tonight or afterwards, you can call me at 929-3200 GATT or email me at Melissa at thestockswoosh.com. You can also follow me on Twitter, Facebook, YouTube and Skype. So, we're getting into the end of the last quarter of 2018. And if you are not at a point where you are ready to close the year strong, why? Have you been working really hard at your job and not getting anywhere? Have you been struggling with your trading? Why have you not met your financial goals if you have not? And if you have, then good for you. Then pat yourself on the back. Then you can go into the year that close in the year very, very strong for yourself. But if you're not where you want to be, it's a good time to evaluate it because you still have three more months. Today is October first. Three more months left towards till the end of the year till 2019. It's hard to believe. But a lot of people have not met their trading goals for this year. With nine months gone, you say, gosh, is the whole year gone? No, you still have three more months left to go to achieve what you want to out of the year. And that's not nothing. That's something. Okay. Now, I talked earlier about the fact that I trade GATTs. I'm going to show you what a gap is. This is a daily chart of BVBY was a play of the day last week in the trading room. And this stock, it had earnings and it gap down. Now, what is a gap? A gap is a difference between the close and the open. So the US stock market closes at four o'clock and opens at 930 the next morning closed up here the night before about 1880. Boom. Open in the morning around 1540 ish. So this gap down. Okay. Stop close to your gap down and fell. So this was a short, it was a short on the day. You can also see here the volume. The volume is depicted here below. This was on the 27th of September. So every morning I get up and I try to find what stock that we're going to do preferred short first. So I always go to the short side first in the trading room. If we don't have a good short, then it will look at longs. So this case here at the stock gap down and it was a short. Okay. So I developed my own system to rate the gap to determine if the stock is a shorter along and which is the best pick. I prefer usually, usually, usually, usually to do one stock pick a day. Okay. Although sometimes every once in a while I will do more than one. So here it is. For those of you again, if you're not really retreating, this is these are candlesticks and the red bars depict selling action and shorts. The stock price is dropping. So when you short a stock, you're you're like betting that the stock is going to drop in price and you can make money with that. If the stock is at 15 and it drops under 15 to 1450. For example, the price you make 50 cents, 50 cents times whatever share quantity you take. And that's how you make money as a trader. Okay. Now day training is you're in your out, you're in your out, you're in between 930 and four and you're out between 930 and four. So you're you you are in and out. And sometimes we're in out in minutes or even seconds. Okay. Most of the time I'm focusing on the morning period. Just so you know, and any questions again, write it in the room. Anyways, this close, this open closed up here the night before open here dropped. It was a short and here's the move. So see your time of the day here's 930. Here's the move into what 10 o'clock or close to it here 955 ish. So you can see here where we open and dropped is a short move down. So I rated this gap, the gap rated 23 points. So I developed a 26 point rating system. Anything where it's rated 20 points or more, you take it in the direction of the gap. So since baby b y was a gap down, I'm looking to short it in the direction of the gap down. Okay. Entry was 1511 share quantity 5000 exit 1463 profit $2400. How long did it take? Not that long at all. The entry was here. Boom. And you get the drop. This was a trade that was less than 30 minutes. And I know exactly how many minutes it was 1012 whatever less than 15 minutes was a trade was a short quick train. And you could have made over two grand. And this is what I look to do every single, single, single, single, single day. Okay. Now does it mean that we get one of these every day? No, some days there are no trades to do at all because there's no stock ticker symbol like baby b y sometimes there's no gaps like this to do sometimes there isn't anything to do. Sometimes it's slow. Sometimes there isn't in their rates well. But most of the days in the calendar year, there are things to trade. And I'm looking for the best one because that's all you need. You only need one trade like this a day. And some people would be happy making $2400 a week. Okay. Any questions so far? It's the consistency. It's the focus, the focus on the system. And that is how you make money. And that is how you can consistently make money. And that is how you see the results, the results meaning to be able to make 30 k a month or 20 k a month or or whatever amount of money that you want to make. Now you would have had to be able to take 5000 shares of this but baby b y is not an expensive stock. Okay. There are many, many stocks that we trade in different price points. You didn't have to take 5000 shares of this you could have taken less. You could have taken half the size in this 2500 shares and guess what you still could have made $1200. By the way, this kept going this was not even the low of the day. There were several setups in this. I think the went into the teens. I don't know what the low of the day was up to look at that. It was like 1412 1314. I don't know something like that. The stock went another 50 cents on top of that. In fact, with this position, if you'd stayed in it, you could have made close to five grand or right around that number in one single day in one single trade. But I prefer this is me I prefer to trade the morning. So it dropped on down. It took a little bit longer. Took a little bit longer. I don't I don't know when it made the low of the day. It was sometime late late in the morning early afternoon. So you could have stayed in it in this case here and you see what it backed up. It was so weak so weak that it hardly even backed up at all. But you need to know that when you're up this much money, if you don't get out, there's always a possibility you can lose it. So I again have a structure that I follow where I'm looking to get out at certain numbers and certain targets and I don't let the money slip away. Is the direction of the overall market of importance? No. No. And that's another wonderful thing about what I do because guess what? Ever since I designed this system in 2008, guess what? The market's been bullish. The market has been in an upswing. The market's bullish. That isn't going to change. Market made brand new all time highs today. So no, I've been shorting and making money shorting stocks in a bullish market. So if the market ever turns bearish, then that you know, that's great too. It doesn't matter. It's the stock. It's the stock pick. It's the pick itself. Okay. If BBBY is going to rally, it's going to rally on its own. It doesn't matter with the market. If BBY is going to fall, it's going to fall on its own without the market. If you day trade every day and you're looking at the same stock day after day after day after day, most stocks in any given day will go with the market but I don't do that. I'm looking at a completely different ticker symbol every single day. One day it could be BBY, then the next day it could be Facebook, then the next day it could be Apple. I'm not trend trading stocks in their trend and I'm not trading the same stock every day or even a couple times a week. I'm looking for a specific move in a specific stock that changes every single day and it's based on, guess what? The gap. That's all I care about. It has nothing to do with the market at all. Okay? So, that is another positive since we asked me that question because if you need the market for the move, then guess what? You better be good at reading the market. If you need the market to make money in the market, you're getting creamed this year. You're getting killed because the market's been tough to read. I've done a good job with it but a lot of people have been saying the market's extended. They've been saying that for months and at one point we almost broke off and fell a couple months ago. We didn't. We held but the point is if you need the market then you have to be good at reading where the market's going to go. I'm good at that because I'm good at reading gaps. The market gaps almost every day and I read the market gap but that's hard to do. I do get that right a lot too but many people lose in this type of environment because the market's very bullish and they don't know what to do and every day it seems like they should be going along with something but then it doesn't work and trust me when I say it. Some people have had a hard year. We've had a great year in the room but some people have had a tough year because the market has been crazy. To me in the last few months has been very easy to read but early in the year had an unexpected fall in February and after that I wasn't bullish for a while. I didn't change my mind till we got up over a certain area which was in August. It took literally almost the entire year for the market to make convince me that we were going to be back up and around again and now I'm very bullish but as far as the most of the majority of the year we were in a holding pattern and it could have gone either way okay and that was a tough period and that was most of the year that was February March April May June July August it was eight months out of the year. Eight months out of the year the market was in a sideways range bound to me the way I read charts and so if you were looking to get the market moves during those that eight months of the year you got eaten up and I'm sure a lot of people did. Will there be a point where you would take that same stock long? Are you talking about BBBY? There's nothing to go along here now in BBBY if that's what you're asking me. I'm not sure if that's what you're asking me. BBBY is not along there's nothing to do with this it was a short on Thursday that's it. I didn't look at what this did today but I'm only playing gaps if this stock didn't gap today there was nothing to do in this today I didn't even look at this today. I don't know if that was your question sweet or not. We can look at we can pull up this chart and see what this did at the end but I don't know if that's what you're talking about about BBBY but if you're if you're if you're thinking about taking this to fill the gap that doesn't work and that is what a lot of people do the trade gaps and they fail and they lose and then they don't trade gaps and then they think that they're hard and they don't know what to do and they're crazy that doesn't work. If you're going to someone that's teaching you that that works they don't know what the heck they're doing and they're losing losing money okay don't go along BBBY I think it's going to fill the gap wrong delete another good one FDF close to your gap down open dropped foods move of the day 10 points again this is the kind of thing you want to get and these are the ones we're going to get in earning season October November the beginning of December is earning season last quarter of the year I didn't look at when this next earnings will be but this stock can move it had a huge huge massive sell-off is a great one sweet is saying the same day no no no now how can you go long and short the same stock on the same day you can't have a long bias and a short bias in the same stock on the same day you cannot that is impossible if you train a stock long and go short at the same day any suck any suck at all guess what you have zero conviction and you don't know what you're doing you do not go long and short the same stock on the same day ever write it down and write it in blood and if you want to have a higher odds of succeeding you will follow that rule until the end of time you have no conviction if you ever ever ever do that never do that you take a trade it loses you're out you're done you don't flip it and go long or vice versa and you certainly don't short a stock and go long the same day if you don't people that do that people that really aren't good at what they're doing you have to have 100% conviction that the stock is going to drop or you have 100% conviction the stock is going to rally you can't have 100% conviction it's both you're going to look for if you take my class and you learn what i know you're going to look for institutional buying and selling and guess what you're not going to have institutional selling come in big and then institutional buying come in big in the same day that's impossible so that's why you are not going to do it if you want to do well and make a lot of money 300 grand a year 30 grand a month what a dollar a day you have to act and think like you are managing a lot of money because you're you're money your specific account i don't care what size it is should have meaning to you as if it was millions and millions and millions of dollars so you don't want to take craft trades and you would not do that with a huge massive fun and funds don't do that either so then therefore why are you going to what moves the stock big money and big money doesn't sell it and buy it in the same day just it just doesn't happen okay that's what i teach people how to think like that but how to see it to see it in a chart there would be no place you'd buy baby wine that day none not if you want to make money okay good question anyways training is you're walking up the stairs of success you're walking walking walking you sometimes you might take 10 steps forward five steps back 25 steps forward three steps back this is how it is you're you know it's not a straight path i wish i could tell you oh you just do this this this this this no you probably have taken other classes or studied other things before you came along to me if you want to take my class you can but you've probably been on the steps before you met up with me and sometimes that's what it is that's the process is a process of getting there i just put in here the results from august the month of august and september and i just have it in here because september was a really small slow month but it had some really quality quality good trades and here you can see in here the ticker symbols we looked at in august and then in the month of september this apple was a great trade and that was a long mid september there took off the first week of the month and fdx was a good one i showed you that one there which was on the 18th couple days in there there were no trades because it was an earnings season in september again it was slow IBM was another quality trade in the 26th and then the bbbw which reviewed and the big trade was facebook from last week okay and i will be going over that today so here was facebook friday was the 28th the stock gapped down and it was a short so we were in the stock short before the news came out there was a data breach i forget the time the news came out but we were short the stock before that news came out so then it had a big sell-off which paid everybody in the trade but it was already up before then but they had the big move then in that and actually the stock continued lower today i didn't see how this closed but the stock continued lower so the amazing thing about trading my system is you're going to learn technical analysis you're going to learn how to look at a chart read the price action to see where it's going to go if it's going to go move higher or lower so regardless of news or anything that comes out anything at all tweets news whatever it doesn't matter if you can predict it in the chart technically speaking that it's going to go in a certain direction to take the trade before the move happens guess what you're going to be able to make money and sometimes you get news or something that happens that you don't even know about you have no clue it's going to happen but lo and behold it it pains you in the move with the volatility momentum and that's what happened at facebook and friday and today again i read that the chart was lower so i called it the option put which we're not going to go over here tonight and then the day trade but it doesn't matter the fact is i didn't know about the data breach people were everybody was in from the morning from facebook should you see how it works you get help from the stocks when they're already telling you that they're going to do something that the rating system that you learn in my class already tells you this is coming up this is going to happen like soon could be a couple minutes could be a couple seconds could be a couple days of a call an option in it i i called both in this facebook was a put and facebook also was a day trade okay and any questions let me know anyways here's a 15 minute chart on facebook where you can really see the drop off when the news occurred however we were in this this again this is a 28th this is the 15 minute chart here's the opening of the day here was the low was around 162 50 ish so we were in this trade early very very early then a drop fell pushback then we took even more and then i don't remember what time again the news came out it looks like it was somewhere around here when it completely collapsed so all of this again is paying you if you're short the stock and if you're long it guess what you're getting creamed okay and again you're not going to go long this in here you're short it your bias is one or the other you have a short bias you have a long bias so i'm going to go over to two risks advanced and beginner for people so they understand because i get this question of the time doing a lot of money today trade no you have to have a day trade account period go set up in the cap whatever broker you can prop or retail but if you want to trade size to make this kind of money i just want to show you one trade one day and this is only 4 000 shares now this isn't a cheap stock but the end train this was 167 40 stop initially initially the first stop 168 60 2000 shares is the first century then there was an ad okay risk 2600 with the ad shares then totaled 4 000 so this is like doing two trades in one people which sometimes i allow people to do and i say let's do it because this is going to work we're getting the confirmation and this this all happened before the drop-off this all happened before the sell-off exit 16302 again this kept going another 50 some cents i forget where the low was but it really was an amazing trade you could have made 16 720 dollars in one day and some people don't make that in one week that'll make that in a whole month some people don't make that in a whole year trading now you did have to risk 2600 but initially you risked less it was because of the ad that the risk was more it was like taking two trades in one and when i do that i either call it in the room or send an email out and tell people you can add to this it's a good one it's gonna it's gonna go this is really good okay where it tells you you can take more risk which is not warranted in every trade but in this case it was again i have no idea i had no idea that news is going to come out but i saw it i saw the selling was coming in entry again if you take a smaller risk 16740 stop 16860 shares 200 then you double it you got 400 shares you could do this you're risking how much 260 bucks if you can't afford to risk $260 you shouldn't even trade one share of something this is a very reasonable amount for anyone to risk $260 and the profit in this if you risk $260 was $1,672 this is a day trade this is not the option the option is actually still on although some people i'm sure probably get out of it today stock fell again today okay so this is two different things this is a day trade the option was another trade but there were both shorts now when you look at it the risk to reward in this trade was over six and if you had held it all the way down to the low which you know you some people might have it was over seven the point is that you can make this kind of money when you trade because every once in a while you're going to get a good one like like facebook it's not a trade but you will have a couple of those a month and they really can help you have a big month and they definitely can help out when some of the trades don't work you should expect you're going to have two or three losers or two or three losing days in a month but i don't have a trade of only usually calling one thing a day and if it works like bbby we're done if i happen to call two trades probably the first one was a loss and then i call a second trade and then we do it tesla was a loss on friday facebook was the second trade it was a lean entry when we got in and did it but i knew it was going to work and there was no hesitation on my part everything that i do is based on reading the gap and rating the gap and if you came and learned my method that is what you would learn to you only can have a bias in one direction you can't love and hate the same person at the same time you either are in love with someone that you're married to or you hate their guts and i hope you're not married to them if you hate their guts but you can't be in love with someone who hate their guts at the same time so think of it like a stock you either love the stock higher or you hate the stock's guts and it's gonna fall and you're gonna short it think of it like that any questions anyways trading trading is a skill it's just something you gotta learn how to do and i think people learn all kinds of different things i have a lot of people that come to me and even the people that come to me sometimes have trouble on learning the things that they've learned from other places that are wrong because they've been doing them for so long but they obviously haven't worked or they wouldn't have come to me so you know think about what i said common sense common sense rules a day in trading and when you make money management decisions and a lot of people just flat out do not use common sense when they trade and you need to do that so anyways when i get up in the morning i prepare i rate the gap we usually know we're looking at a trading before the open sometimes i look at it and i see something at night in fact allah had it as anything tonight you can let me know i'll look at it while we're here i can take a look but i think it's important i think it's important to be prepared and you know i i i think it's important to go into between now and the end of the year with a very positive attitude like you're gonna do it and if you embark on this course and if you want a day trade this is really what you want to do and you really want to do it for a living you have to have a positive attitude about it a lot of people that trade the market have a very negative attitude and so i'm not saying some of that isn't warranted some people have tried to trade and lost money and they feel all beaten up about it you know if you're if you have a negative attitude chances are you're not going to do well you have to have a positive attitude about anything you're attempting and you know you may make mistakes but you'll learn from those mistakes and i'm a good mentor for people i allow my i let people that come to me and take my class allow them access to me to talk to me to email me questions to call me and ask me questions i try to do my best to help people and give them advice as we go along but you do have to take my class become a member of the live trading room and i always say listen to the calls listen to what i say that facebook trade i don't think everybody held it i think people lost conviction in it i think people got out of it with a little bit of money and then probably were kicking themselves in the butt after they solve a sell-off so i'll have to take a quiz on that tomorrow from everybody in the room if you want to do this you'd be working for yourself now personally i like working for myself some people like going into an office every day if if you want to do this you can work for yourself and you can work from home and that is a benefit and you're gonna kind of know your personality and ask yourself you know what kind of trader are you are you do you have the personality today trade or maybe your personality is you you you'd rather do the options you just want to put a trade on and kind of let it ride out you don't want to have to manage it in a couple of minutes maybe you don't like the idea of going to bed at night and being in a trade that bothers you that worries you so you say i'd rather just take it and get out in a couple minutes and five minutes two minutes ten minutes and you feel better about that knowing every day when you go to sleep exactly how much you made you know whatever your personality is kind of you know look at yourself and try to figure out what is your personality and is day trading for you or if not maybe like i said doing swing trades are options very liquid stocks yes why would you ever trade a stock that's not liquid if you're talking about penny stocks i wouldn't touch them with a 10-fold poll and you can't make money trading them you will lose way more than you ever make even if you take a good trade and make money in a penny stock they're way too risky no no hedge funds are buying penny stocks so yes liquid stocks stocks that are traded by funds that's the trades that's the ones that we do stocks you would know Home Depot, Lowe's, BBBY, Bed Bath and Beyond Nike stocks that you would know if you called your mom in the phone you'd say mom we traded Nike today and your mom would know so that's what we do it's the U.S. market we're trading companies we're trading things that people know we're trading things that people have conviction and we're trading things that are traded by big institutions and big money and that's how you can make money just ride the coattails of that how do you think that this was such a good one here this do you think you would have ever ever made 16 grand in a day like this with 4,000 shares of anything anything at all if you didn't have funds in this puppy on Friday that's with this whole move that whole that whole move that whole huge move was just selling of course you want to be in liquid stocks again common sense common common common sense and anybody that tells you anything else like that it's like oh god I don't want to go off in a tangent it's like it's like it's like people want to hear something I swear I swear to god people want to hear something that that they know is crazy but they want to believe it because they want to believe it because it is crazy but they know it's it's crazy it's like it's like you want to believe and I'm saying you not specifically anyone here I'm saying in general people want to believe that they can open up a day trading account with $200 and make 16 grand in the trade they want to believe that they can trade penny stocks and they can buy 100,000 shares with a thousand bucks and then all of a sudden they can make 10 grand they want to believe that they want to believe that that's possible people want to believe things that are nuts even though they know that they're nuts but they want to believe it and then they get pissed off that it doesn't work and then they get pissed off that someone told them it was nuts and that person is nuts that person is nuts and told them it was nuts and it was nuts to begin with and the person knew it and so did you you meaning just not specifically anyone here but in general people it is not nuts to think that any trader any active trader could make several thousand dollars in any of the ticker symbols that I just reviewed that from the last two months or any of the ones all year okay millions and millions and millions of shares were traded every day in all the stocks we trade and they move okay and you don't have to take 50,000 shares of them and you don't need a million dollars but you certainly need money you need more than a hundred bucks and you need more than a thousand bucks okay people want to believe things that are nuts because they are looking for something to to people are looking for people want I don't know what it's called like the golden nugget or the golden bullet they want all their dreams to come true in an instant no all your dreams might not come true in an instant but guess what all your dreams might come true with hard work a financial investment and time so if all of your dreams can come true at some point with hard work a financial investment and time guess what that sounds pretty good to me okay rather than doing crazy things or believing in crazy things and then getting disappointed things that if you if you talk to your mother about she would say that that's crazy and that's never gonna work and you're never gonna you're never gonna make 16 grand trading that penny stock why did you risk a thousand dollars in it that was silly or forex or bitcoin or any of the things that people have done I mean it's just you know seriously seriously pale mary is right anyways I went off in a small tangent gala had if you want to look up if there's anything tonight while I'm finishing up here anyways going back to what I was saying you can trade it a prop account if you don't want a proprietary day trading account is look it up you could trade it a retail trading account if you don't know what that is look it up but either way it's it's a margin account when you day trade so you don't need the cost per per position so if you take a stock like bbb y you don't need the full 15 dollars per share quantity it's on margin so it's four to one usually at a retail broker or ten to one at a prop place okay but either way you're in and out you're in and out before between 9 30 and 4 options are different and we are going to go over one option trade here in a minute but all of the trading that you do you do from home now as I was saying why do people find trading so hard I was discussing this in the beginning people second guess themselves second guess in yourself is taking along in a short and the same trade by the way that's one thing focus on the right knowledge focus on the conviction focus on the directional bias focus on what's important focus on making money okay focus on the chart focus on the technical analysis focus on the things that I will teach you if you if in fact you want to be taught by me listen to what I'm saying don't don't get swept up in the hysteria okay I focus on the first 30 minutes a day sometimes the first hour we're in a train usually like to be in and out by 10 but when you day trade there's no overnight risk you're in control of your money no one's forcing you to take a trade or take a certain share quantity you should always risk take the risk and put in a stop the stop hits you out if the trade fails okay I call it a hard stop but it's a limit order stop and that helps you because you want to be out sometimes when the trades don't work Tesla's a good example now Tesla did go on to work and ended up falling then on Friday but it took a long time and it was way up way up through the stop before it fell back down again so it's still better to take the stop but your returns when you day trade can be incredible because you're in and out so quick you're trading a margin and you're getting the quick moves and you're getting them with momentum so that's the other reason we're trading liquid stocks we're trading stocks that we want stocks to be in stocks that move I usually say a dollar we're looking for a dollar or more but some things are like bbdy I mean 50, 60 cents it can pay you you don't even need a dollar even though that stock didn't end up going like from the tip to the toe a buck and a day all right but day trading isn't investing you're chunking it out chunk it, chunk it, chunk it 500, 600, 1000 350, 400, 500 you chunk it so you can take a small account and build it up it's sometimes you get the big ones Facebook was one but it's not every day and it's not every week but when you get them you've got to be there and ready and training you've got to be there every day because you don't know I don't know but I don't know I get up in the morning okay you don't know but it's not investing anyways how much do you need to make to quit your job I don't know how much it costs you to live I don't know what you're doing now what you're making your goal should be appropriate though for your risk with the size of your account so you have to look at your size of your account determine your risk and this is after the class you also should follow the trade calls in the room if you're going to be with me and do the class I say follow the calls but if you break it down it's approximately $1,000 a day to make about $250 a year $1,500 to make $300 something if that's what you want to do but when the trades don't work you can't get crazy I say take one or two a day that's another reason why you should you should do well with me because you shouldn't be trading all day you shouldn't be doing five, six, seven, eight 10 trades a day that's how people hurt themselves too and people hurt themselves with a small account they say well I'm only risking $200 yeah then they take you know 20 trades and they're down four grand you can't do that any questions again here was the fdx here was the one minute chart that was the daily just want to show you the sell off here here was the setup happen boom boom so this was back in the middle of September this is the daily we looked at and here is the day trading move boom like that that's all you need it's the sell off now I did the breakdown here for again advanced and beginner so the advanced risk was 2600 beginner risk 260 you could have made what 285 dollars and if you risk 2600 you could have made 2850 in a very very short period of time I also put on here again for retail accounts and props you see the difference for a retail account you would have needed 61 grand to take this in a prop account 24 grand in the smaller size position here again this is an expensive stock it was fdx okay over 200 our price point you would have needed 6100 on retail on prop 2456 so people ask me about that as well for the expensive things of which this was this was not a cheap stock like bbby but you still could have made almost 300 on this with a small account of around 2500 bucks in a prop account you still could have made your goal for the day two 300 bucks and again if you have a small account of 2500 dollars that's all that you should be able to expect from yourself you can't risk a thousand dollars a trade or two thousand dollars a trade if that's all you have on your account but I want to show you it's possible you don't need a huge account to trade this you need a huge account to risk a lot but if you can't afford it then make what you can because a 300 dollar daily goal will eventually get you where you need to be in a couple of weeks or a couple of months or between now and the end of the year if you're trying to build a small 2,02500 dollar account up to five grand and then 7500 and then 10 grand you have to start with what you have and if you don't have a lot of money then it doesn't mean you should not trade it just means that you should take profits and chunk it up and build the account up slowly I don't know why people do this but I was just talking about something the other day he said to me he admitted he's like I have a small account and I tend to be more aggressive I said well don't you see that's completely backwards he said I know he said I know but probably a lot of people do what he does don't do that again it was back to common sense common sense anyways I usually look at it like all right we're trying to get 50 cents we're trying to get a dollar what's my goal so if the difference between the entry and the stop the risk is 50 cents I'm looking to make 50 cents if the risk is a buck I'm looking to make a buck so I'm always looking to make one over so if I take a trade I'm risking 1500 and trying to make 1500 if you take a trade and you risk 300 you're trying to make 300 a one flip over this is a day trading is good okay and especially if you could do that in a couple of minutes so learning season starting banks report next week there's going to be a lot of trades and a lot of fast trades and that is one of the reasons that I like day trading just because it's so quick you don't have to sit at your desk all day to four o'clock you do not have to train all day you absolutely absolutely don't in fact I think it's wise for people to be done in the first 30 minutes but for you yourself if you're doing this and you're doing it from home you have to be disciplined and you know when I close the trading room I usually close it about 10 30 in the morning I said be done be done if you're in a trade and you're up and you want to manage it fine but you know I'm telling you the financial freedom that comes with this comes with great responsibility but it also comes with great reward because you don't have to report to someone else for a boss you can work for yourself and I'm telling you the freedom that comes with that once you once you go there you never want to go back to it to go back to a day job again you just you just won't want to do it so it is worth the time and the energy and the money and the effort nothing tonight go ahead okay that's fine I thought maybe there might be something I could look at anyways I focus on one strategy as I said all day it's gaps it's called golden gaps you work for yourself you work from home you can be anywhere in the world and take it I'm in New York the class though is online it's just a matter of function of yourself and what you're willing to do to get there but a lot of people trade and don't have a clue what they're doing I'm telling you I'm very focused I'm very good at what I do it's one of the reasons that I'm talking on national TV think about what I said tonight think about yourself your personality if you think this is something you're interested in doing okay whether it's part-time or for your job or career but my system is looking for a high probability of directional bias for the entire day a big move early confirmation when I get in and out quickly and a precise entry which is what you learn in the class in the one-minute chart with a good risk to reward potential remember you're chunking it out you definitely can pay for the class and a few trades or even one trade depending on your risk if your risk is small it's going to take you a little bit longer but there are a lot of people that have taken my class that are risking you know a thousand dollars or more a trade you have to follow the system the system directs you and tells you where to go if you open up a retail day trading account you need a minimum of 25 grand if you open up a proprietary day trading account you need a minimum of most places of $2,500 so there's your options you have two choices it's called a prop account or a retail account and the difference about the deposits is quite different one is $2,500 one is $25,000 if you don't know what a proprietary day trading account is look it up if you want a referral you can email me there's a million retail places but don't not trade because you don't have $25,000 because there's plenty of prop places out there that you can go to with far, far less and if you never heard of it Google the definition short of data I don't know what you mean by that Galahad I'll look at it I'll look at it I'll look at it we have time anyways this was an option call I called in the diamonds this was to buy calls so this was this was a long but it was an option trade here's the move poop and it went up like that so this was one here just want to show you again the difference and the risk and the money you can make in options trades same system rating the gap playing the gap but this case it was a long okay this only cost 30 cents a contract this was pretty cheap so you could have gotten a lot 8,000 shares is pretty big big position here risk is 2,400 bucks okay 30 cents is really cheap but the stock had the move I'll go back and show you that in a minute okay ran up profit was 145 you could have made 11,600 almost a 500% return on investment no margin required so in this case to do options with my system you don't need a day trading margin account you need whatever you're gonna risk if you're gonna risk $2,400 that's all you need in the account it has nothing to do with the cost of this I mean with the price of the stock it has to do with the cost of the option so here was the move right up there and here was the trade just before I show you the beginner one it was the 260s the 265s but that was the 260s this trade is already over I'm just showing you here the potential and how the stock moved up so here's the move it got almost to the dream target in the time I called the trade here it is and that's what you're playing again you're playing momentum if you only risk $240 you could have made 1160 this wasn't even the high up to 260s, 750, 268 it wasn't even the high up there but anyway it's a beautiful trade you take the position you're in, you're out you don't need margin to do this it's for options and that was the call so if you're in the option letter you get these trades emailed to you if you're day if you're day trading you're in the room doing the day trades you can do both one you need a margin to count one you don't one you need to count to actively day trade one you need to count to do options same system some are put some are called some are long some are short mostly we do shorts for the day trades all right but anyways how much you make is how much you risk it's how much you're risking you just have to be consistent with what you're doing anyways my class is called the golden gap system it's 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 in what direction because that's how you're going to make money you wouldn't make any money if you were a long Facebook on Friday or BBBY the other day either okay you have to be in the right direction that's so important the 26 point checklist predicts directional bias and a stop and that is how you're going to make money one strategy is all you need to be successful in the market that's it that's all that I do but the time frame whether you swing trades options or day trades it's the same system that's the beauty of it okay so whatever works for you for your timing for your finances okay whether you want to open up an options at a counter a margin account you'll learn how to read institutional money and price patterns and gaps and you don't need to do anything else if your reason to do this is making money my system will make you money and by the way Phillip how much are you up in that Facebook trading today since speaking of money since we did that video last night I haven't posted it yet Phillip is a student and he's in the Facebook puts he was up a thousand dollars Friday what were you up to day when it was dropping Phillip write it in the room while I'm continuing to talk here since you're here anyways look at your schedule if you can trade between 9 30 and 10 that's the time you got to be in the room eastern time okay okay also if you'd like to make it out quick you want to work from home and if this is something you want to do for a career it's not like you have to do it for a career you can have another job on the side you can you can have a business on the side but it's a way to make extra money so extra money is always good extra money anyways my class is called the golden gap course the class is this week in October 6 and 7 from 9 to 5 this is the October class class to the class is 54.99 the class is online you can be anywhere in the world and take it I'm doing a combo golden gap and trends course class to which it's 59.99 the class is online again this class for the trends is October 22 so you save money if you do the combo the trends class is for long-term trades or swing trades Phillip are you there and not answering me how much were you up today or you don't want to tell me you're up more than you're up Friday you're up $1,900 what were you up at the high the high of the option chain today $1,900 what was it below anyways I'm running this one last big special before my new website rolls out the last special I'm ever going to do for the trading room in the options letter it you're going to if you sign up for this class you will have the one year free in the letter one year free in the trading room normally these are separate fees for the options letter in the trading room you get them free if you sign up for the class this weekend Friday is the deadline you get all my calls for an entire year no exceptions to this a new website's coming out and then all the products and services are going to be online and the class price is going up you're up $1,900 so far yeah but I saw that Phillip but was that at the high of the option chain today or is that in the close here we'll pull it up questions from anyone if you want to trial for this week email me at melissa at thestockswish.com or info at thestockswish.com or you weren't watching it all day today oh my god I'm shocked well good I'm glad if you did not watch it all day today then you're getting you're getting better this looks great so low in this here today was 161.26 so I called two trades and Phillip has two the 155s and the 160s so this looks great so Phillip is going to make 20 grand if it drops down in there and goes to the number that we think so let's say I'm rooting for you it's going to be a big one let me look at the one you have out for here tonight SFIX I'll look at those later AX is this gap oh stitch fix stitchy fix this this is not out that long but it is almost out of year I don't know well I'll look at this tomorrow I'm not going to make any decisions on this tonight I'm not going to rate this here tonight I'm tired I'm not going to say I'm not going to do it you're right it doesn't have a long history you're right but this is readable this is readable it's it's this has volume in it let's see what it was today I don't know if this is going to be good or not but I will take a look at it tomorrow morning yeah any questions from anyone about anything whatsoever here at all anything that anyone wants to go over again here's my information if you want to trial this week for a couple of days before the class if you have questions call me if you have questions email me fill out a look at all of those tomorrow any questions from anyone else listen thanks for coming everyone email me if you'd like a trial and have a wonderful evening thank you