 Okay stop and this is going to be 7310 and I don't have the entry yet let's just watch it but that's going to be the stop target 71 let's do 19 by 10 19 by 10 target here do it do it get in it it's going to go 7310 and we have to stop plenty of way it's going to hold us in it it's going to hold us in it even if it backs up if you don't want to do it don't do it but that's going to hold us in in fact let's put it at 15 it's figuring a buck alright just be in that if you want to get something here today to the downside market looks amazing wow you guys did the market good job what what a night here you can go along the spy man you can go along the spy right here and put the stop under the low of the day you can put the stop at 271 90 and that will hold all day that's a buck that's a buck and that has actually I really like target now that the the spy has a massive target this is a John Mungus target this week I don't know if it's today I don't know if it's tomorrow I don't know if it's Wednesday whatever no that would be tomorrow Thursday I don't even know look at this one did anybody do Amazon call that this morning for the options letter all right let's go back to this here we go do do do do do 70 175 71 here through the low here did anybody do it koala bear did it divides is an Amazon good you're up here target through 72 and this is just so late whatever we get in this is just greenness and if you did the cues you're up from gyros call good job Amazon I'm shocked you complained about the price in the Netflix and Amazon was way more expensive but still relatively cheap here we didn't break from 72 yet though we do have to do that which I think that we do any second here target I didn't even have time to do anything this morning so I didn't really even look this was not gapping here let's take a look at it here here did it did it boom here let it drop this was crazy town look it was down then it was up then it was down 915 ish it was around 74 16 here we go here here target here I'm just gonna see if I can get one more push in this I'm just gonna get out of it cuz this is really late for me here here let's see we can get a break of any I'm just gonna take it here yes and I love target to care I took it I'm out just one quick trade for me if you want to stay a longer 71 looks great really didn't even think I'd get anything today because I was again I was on talking about other stuff for TV but great nice trade and you want to keep this out where it is and hold it I really think it goes down there and it gave you a really wide stop this is all working out lovely all right let's look at the market and this looks good and Netflix I'm sure no one's still in this trade but it's fabulous and went to 320 what happened with the other ones there was something else today Apple gapped up I think to know nothing there Google no nothing here yet this is the least of the interesting ones all right here there I just decided to take it because it was a quick quick trade but if you want to be in it all the way out of 71 I like it so tell me what you did where did you go on the case did you get stopped in this and we're aggressive or you waited a little bit here tell me what you did hello here I'm gonna let Jiro get on tell me what you did Jiro tell me what you did okay it was a weird morning basically when we looked at gaps there wasn't any there weren't any great earnings gaps once target went back up and was no longer gapping I missed the actual move when when target came back below the low so what we were looking at and on the magic camera here we were actually watching without great you know without being aggressive we were watching GLIC basically it rated I gave a generous generously I gave it 20 points but this didn't look like it was gonna be fun we were also watching this FRP TV that was Friday it was gonna be ugly and it was clearly a bust from the beginning so GLIC it paused it held but it we didn't we didn't go after it so we sat around and we looked and I was watching the cues I thought the cues were stronger than the spy based on it's already visited its high and if it gets up there again it's gonna be a third trip up there where spy I saw it as a different story we haven't been up revisited the high yet so basically we were looking right in here at about 6168 50 as it went above 168 50 anyone from there so that was the call you know I I looked at long earnings gaps also was not inspired and of course earnings is slowing down for the whole season so you know we can in a way we can be picky but it was in a way we can't also there was one other somebody found fate and I didn't see this come I didn't see fate coming and it wasn't that exciting to me anyway I mean look at this chart in the daily and that's just not enough of a gap that someone made money in fate I believe but essentially the only thing I liked was the cues as it unfolded yeah I don't like to mess with fate it messes with me back to you read on the market excellent I believe the market makes new highs and the cues again soon could even be this week and yeah I mean everything looks great so good read on that so target pushed back a little bit but again stop is wide and I think it's best for these late trains we don't get the perfect entry to put the stop why targets should continue all day I believe target closes red today target looks lower now I don't know where exactly in the next few weeks and I don't think I'm gonna call an option on this I just don't have 100% conviction it's gonna have anything that would make it playable as an option but today it's definitely going dropped fell should hold the weakness today and I had a feeling that this was gonna do something here I just really didn't have time to look at anything this morning so that was good I thought there was a couple other big names out though maybe there wasn't because I didn't really recognize any of the things you had up but overall I'm glad you guys did something let's look at tomorrow just look at tonight I mean does anyone have any questions about ending gyro did today looks like he did a good job target also did a great job calling that in like a blink of an eye you could still be in it but I think you get a little bit of a move in something like that late I think scalping it is the name of the game and I'm not sure what I would have done here out of the gate I really don't know I have absolutely no idea but in order to get target with the way that it switched around flipped late you would have had to watch it watch nothing else in the open and then almost do it on the fly I'm not sure what I would have done you come I don't have any questions about anything so far so yesterday was nothing which was good that was a good decision called Amazon option some of you did it you're up that should be a big trade to let's look at what's out for tonight oh CNN I knew there was something else CNN cars what did they do I knew there were some other ones we saw yesterday CNN cars HRB is tonight we'll watch it I've no idea what it does in urban there we go here's the late ones nights watchers urban and HRB whoa CNN was crazy I think I would have done this no I don't think I would have done this but it worked really good and what was the other one I just said cars that's really working because the market look at that I didn't do anything right all right so if you're in the queue is anybody still in the queue sir just got out of it it hit the first target 169 I do think the Morgan strong overall here though in the next few days target looks fine stop is very far away or you kind of get out where I said what's everybody doing right now who's in what who's in what for trades and things to do everyone's quiet as mouses qualifiers flat okay anyone else Gala had still in target and green Maverick still in the queues so I think we could get something good tomorrow just because there's urban tonight HRB tonight let's look at those charts right now and see where they're at today I really think that like Jaira said I mean being picky is important but don't stress yourself out about it if there's nothing good that you don't do anything at all so this just that's low stress you can't make something there that isn't there it's either there it's not there it was very clear today that the market it was gonna hold in this higher and HRB is definitely gonna be a watch to Bosca that have target yeah gala had I thought you were following me if you're following me I'm not sure why you're still in target it doesn't even look like it's moving but it is right so I don't think anyone is still left in Netflix or is anyone still is actually a Zen trader here she might be the only one I'll have to find out today if she's still in this is anyone at all still in Netflix because the bottom line is that this I knew this would be a huge trade does anyone listen to anything I say because I'm just wondering that because I actually said that I actually said it and I said it in the room and I said it I said this is gonna be huge trade I said this is gonna be the biggest one that's exactly what I said I said it and no one listens to me or if you do it just goes in one ear and it flies out the other and you gala had case it definitely flies out in fact I don't even think it goes in one ear I said this was gonna be the biggest one I was right and I said it and it went down before went up and it was the biggest one and it's not even done and if you did it out till next week at the end of next week in the market rally doesn't even go over 325 and this will be the biggest one you come look like it went yesterday or today yeah this was weird yesterday glad we didn't do it today and fall through it got down yes you could have done you come to I don't know how this would have rated and I doubt I would have done it but target would have been a watch or nothing probably now you remember me saying it gala had but you didn't do the trade at least you did this one I forgot what I was going to say now I was gonna say something else probably you do listen to me but you're not on the options list so I was specifically saying you know making comments and actually I am going to bring up one point because CMG is an option trade that's still on since we're done day trading today this I said the day that this capped up it killed a trade you could have killed it here and come away with money it would have been a loss but it wouldn't have been as much of a loss as it is now now the trade still on and still could go on at work it was called out till June gala had did not do Netflix and he didn't do some other trades because he's in this and he's down this is a perfect example of something that actually one of the guys in the webinar last night mentioned don't risk too much in your trades that one trade hurts your ability to be able to take other calls because I am making calls every day and every week and all kinds of things whether they're options trades or day trades and if one trade you're down in and I still think this works but if one trade that you're down in prevents your ability to be able to trade and you freeze like a jackrabbit in the woods then you are risking too much money in your trades and that is a problem and I know everybody wants to make a million dollars but not all gaps are created equal and that's why every once in a while I say this is gonna be a good one this is gonna be a really good one this is gonna be a big one what were this what were the ones I said that sometimes I say that about day trade sometimes I don't have time sometimes I say that though about the options trades but not all the time but when I do you should listen up to what I say what ones did I say that about spy cues Netflix Walmart put I said it and I was right on everyone I do not sit at every trade not all gaps are created equal not even the ones that we trade not even the ones that we trade not even the ones that we play they're not all created equal and Gala had you and your mind are doing other things which is not what I taught you which is why you are not doing as well as you should be doing nowhere near and you are using other strategies and systems and when you said that last night in in the webinar I thought to myself I'm not sure if my system is compatible with any other system in fact it's probably not because many of the things that I taught you are the opposite and what other systems teach you and if you wanted to go long Netflix on this day that is nothing that I taught you the in fact the complete opposite it could have broken this support fell dropped broke and you could have been down even more and what you're doing is adding to trades or are you're taking new trades when they do things like this and that's wrong I didn't teach you to do it did not teach you how to do that and since you're so stuck on this and down in it and held on to it for dear life and now has prevented you from taking other amazing calls that I called my bet is you added to this trade you don't have to tell me if you don't want to but I have a feeling knowing you that when that gapped up and the price became cheap cheaper you added to the trade which you shouldn't have done and why shouldn't you've done it because it gapped up just like when Netflix gapped down you shouldn't have taken a new trade there the trade was the day that I called it you're either in it and kill it at 50% loss you hold it through but the problem is you're doing a different thing in every trade you take I guarantee you Amazon I don't know what this does yet I don't even know what it does I just knew was a good call and knew was going to work I'm not saying it's going to be a means you know I'm not saying this is going to be the biggest one in the world I'm not saying it at all I don't know yet but I saw it's going to work and it is working but I'm telling you whatever the right thing to do in this is you'll do the opposite because your head is not on right about money you were probably risking too much in your trades you are risking too much in your trades you should never not take another trade that I call today tomorrow this afternoon next week because of one losing trade or even one losing day and last week when we had a losing day I picked myself up right and pulled my bootstraps up and I've called great trades winning trades every day since big what one losing day in a month one losing trade should never prevent you from continuing to do what you do and if it would can you see how that ruins your whole life I mean how could I ever do anything at all if that's how I acted you can't you can't miss more than you can afford to lose in one trade and you cannot allow things that happen when a trade loses affect your ability to move forward and you do and that's why you're not doing well and I can't fix that problem for you and some of you are are probably having a similar problem and don't want to tell me but that's fine you don't tell me then but I'm telling you right now you can't allow bad things that happen to you to ruin your life you just can't and this is a general just in general but in trading it's so obvious that it affects people in such a negative negative negative way and that's why you can't risk more in a trade they're willing to lose because if one bad trade ruins your life and chances are you risk too much too much than you should have and then when the one works and goes on to be a 200 300% in fact let's just even look and see what this is worth right now I mean I'm just gonna look and see what it's worth right now this Netflix this was a 300% return investment I know it at least today and Barry didn't want to do it but Barry is different issues than you gala had you know you just you're risking too much if you if you don't want to do the trade and you're stuck in something else yeah this was I knew this was gonna be a biggie I was gonna say I forget this prevented you from I'm then why do you do this trade here it goes it's going to 325 why didn't you do this trade if the fact that CMG is down why didn't you do Netflix that I want an answer because because I asked you in the webinar last night tell me why you didn't do this trade and you can't tell me risk to your work is that's baloney shmoney now that's crap that's not true actually the stocks at $22 through the straight and it has more than a week to go so we're sure word and what's the reason you didn't do the trade and by the way you said last night unless I'm following you I'm fine you're not following me because I got out of this today in the blink of an eye and you didn't now it still looks lower but what if it wasn't what if it's not it still looks fine it looks good and looks lower but you shouldn't be taking any chances every time you're green you should get out every time it green you should get out every time you're happy to get out you should be listening to everything I say and just following me like a robot did a robot robot robot for those of you that are doing very well make your own decisions do your own thing listen to yourself listen to your gut for those of you that are not doing well you have no excuses not to be listening to me no excuses at all because you should all be up and listen to me like a robot robot robot robot and Gala had you should turn your brain off and be robotic mr. Roboto play that song because that's what you should be and then you'd make money and then you can go back to thinking because you're thinking cat is turned upside down yeah there you go monkey I forgot it monkey and if you get out of this you can do this again actually if you want to short this here you could lower the step pull it down you can short this again put this stop at 72 80 you could redo this a second trade if you want if you want to trade all day which I don't and I can't or you could stay with it and pull the stop down to 72 80 but I would not do any actions in this people because I'm not saying it's lower in the overall bigger picture listen I'm giving you a good advice because I'm trying to help you it's it's really just it's it's it's very frustrating that that I've got brand new people who just did the class that are doing amazing then I have someone like you gala had that just can't get his head on right and doesn't listen to anything I say you say that you listen to what I say but you don't and how do I know you don't because you didn't do Netflix you're still in CMG and you probably should have killed it because it's bothering you so much that it's down and my guess is that you added to the trade are you gonna cop to it because are you gonna tell the truth because I bet that you took more of the trade when it rallied you did didn't you don't risk more than you're willing to lose this idea of buying she on the buying here what's how can I phrase this and then I'm gonna let everybody go the bargain hunting we did talk about this we talked about this the other week stop hunting for bargains looking for big wins stop stop trying to find the bargains looking for big wins I just talked today about IPOs if you want some huge huge windfall that's a bargain then buying into an IPO but also be prepared to lose every dime of the money or go gambling it's this is this was to buy more of this when that gapped up to buy more of the put it's it was a put option you know when it gapped out was the wrong thing to do because it really shouldn't have done that the charge still lower but now it's harder to determine the time frame until it gets back going down around again which it hasn't it has not yet you don't know if it's gonna make the mover when it's gonna make the move exactly the timing see part of this is timing it's timing timing timing and that's why Netflix taking the trade here you wouldn't have known the timing of it take this away in the morning that's how the stock looked and it was here you could never have predicted in a hundred million years the stock would do what it did on the Friday the stock could have dropped down to 70 and then he would have added to the position and he would have been down even more and then it would have been just like CMG where you're waiting to see where it's gonna go and when then it would have been at 270 30 points away from the strike with two weeks left to go and that's not what happened but the point was you don't do the opposite of what I've taught you to do and that's what you're doing because you're trying desperately to take huge positions in trades to get in the cheapest that you can to get a bargain price and then have it go like crazy birds that happens once in a blue moon by fate just by happenstance that is not the normal way you should be trading that is not the what I taught you to do at all sometimes it just happens it just it just happens by dumb luck sometimes just by dumb luck sometimes you happen to be in something that you paid cheap for and it goes crazy and you make a crap load of money once a year twice a year that does not happen all the time it doesn't happen on any regular basis you use the strategy you implement it you risk what you can afford to use the trade goes you make a normal amount of money or a little bit more than you expected if you're still in Netflix or if you held the Walmart or if you held the spy the day that it rallied which some of you did and some of you didn't some of you get out of it the Friday before which was still okay because it was money some of you got out of it here which was fine and some people held it through Monday which was the big trade but either way on a consistent basis you should not be constantly constantly constantly risking more than you can afford to lose adding to trades that that actually you can't tell now what they're gonna do is CMG lower yes can I actually say what I would make a brand-new call in this today to take it of that strike in June I would not make that call today now if you're in the call it's on it's either on or you're killed it so you know this it's it's not a new trade here you just if you're in it you're in it you killed it was down 50% of the day that it gapped up or you're holding until because you believe it but you certainly don't add to the trade and you certainly don't allow this to affect every trade decision you take for the rest of your life this is going to be a huge trade here let me text Zen trader and see because she never watches our trades and see if she's looking at it and hunting maybe probably okay good investment strategy but for especially day trade not likely I don't think bargain honey is good for investment strategy we did talk about this oh there's then trader I just texted you what are you doing are you in this Netflix are you out of its end trader if you're in it how much are you up how much you up and you got to watch the trade so this could go to 325 today I don't know for sure but it looks like it's headed there or you could get out of it today or you're waiting for the market to rally another day or two what do you want to do and how much money are you up see these are the good problems to have then you're up 181866 bucks and you risked $650 in the trade which you said yesterday so that's a really good trade that's 300% turn around so what do you want to do Zen trader you think Warren Buffett is a value bargain hunter Warren Buffett is a billionaire what Warren Buffett can do whatever the hell he wants so to say well I think I'm gonna I think I'm gonna be a trade like Warren Buffett Warren Buffett can buy Netflix withstand a downturn all the way down to two bucks to share buy more two bucks to share and then move the stock back up to three hundred twenty three dollars what it is today and do it whenever he feels like it and take a nap and do whatever the you cannot expect to become a billionaire trading like Warren Buffett that is not the way to go that just is not he first of all he started investing and made all of his money a very very very very very long time ago the market is very different now very different now he can eat cheeseburgers daily and stay healthy maybe okay what are you doing for this year's end trader you bought Amazon to and you're up 130 bucks we'll just ride that out but what are you doing about this one three day rally pushing up here's the momentum are you gonna take it out of 325 are you gonna hold it when you're up over $2,000 it's getting there are you gonna take it out are you gonna hold it to be up a little bit more does it really even matter to you if you can out of this today you're up over two grand will you be happy if it goes a little bit more you could have made three would be pissed if you if you got out of it too because that's how gala that's what gala had would do what do you want to do if you get it if you're up $2,000 in this today will you be happy here you're gonna be up $2,000 now what are you gonna do with this trade then traders another person that just listens to everything that I say and by the way she's highly intelligent and very smart so smart people who have brains and thinks from themselves still listen to everything I say because I know that I'm good at what I do here it is it's a 325 holy crap look at that yeah Netflix go go go Gypsy are you here is Gypsy here did she was signed out today Gypsy Gypsy Gypsy must have signed out she was another one I wondered if she held this one too you're staying in it because if you if you're not staying in it the exits right here it this is an exit right here at 10 30 reverse time hit up a 325 this is a good exit here today if you want to get out of it if you want to hold it fine 330 is the next number 329 330 and that isn't even something that's crazy and this turned out to be the biggest trade and I said it so there you go and I can't say anything about this except for it's gonna get to the strike when I please share my precise definition of risk in this application it's it's the risk is dollars and cents what do you mean and here first of all this is going still and I call the second trade in if you wanted it the risk is the amount of money at risk game for example I'm just making this easy here to just talk it through if you did this 50 by 80 the second call in here target was 30 cents so 30 cents of dick a thousand shares is 300 bucks if you shorted this at 71 50 target 71 how much money would you make go $500 is that a good trade the answer is yes that's a good trade what if it just got down to the low of the day what if it just got down to that number here 75 or whatever it was close enough what if you shorted it and got down to no actually I'm I'm sorry actually I'm talking about the second trade so I called this in here say you had shorted it 70 well let's just not be exact say you did 72 72 by 70 72 by 80 say you did 80 cents say you did 72 by 80 just to make it easy and you took a thousand shares is 800 bucks so you shorted it 72 so say it drops down and it goes to 75 you made 25 cents 25 cents which means you made $250 you risk 800 is that the greatest trade in the world no no it's not but it also is 1031 it was a very late trade it was a scout you still could have done it you still could do it but I didn't do it because it's very very late but in the morning you would have get a much bigger trade in this except for the fact that I wasn't here but at the point is though that in the morning you get bigger moves that have better follow-through for the risk to reward so that wasn't great but for scalp it's okay to me it's too late saying we had done this today which we didn't say I had done it in here for example say we did 73 50 I would have put the stop probably at 85 so say 20 35 cents 35 cents first target would have been 73 which it did get to so you may make 50 cents we can risking 35 cents is that a good trade the answer is yes we're gonna go almost immediately to the target and through it 72 66 if you did this here you may know most a dollar if you got out in this far is that a good trade the answer is yes your risk was 35 cents you made almost three times it that's a good trade so the risk is a dollar and cents you determine your share position by that in reference to the options we talked about this because two people in here thought that this trade was too expensive and now you see that that was absolutely baloney shmoney Barry didn't do it and he had time to do it and he talked about it for two days in here and didn't do it and didn't press the button he would have made more than a thousand dollars so he could have risked $700 and made two grand just like Zen trader she only did one contract she spent 650 bucks and then trader should be you should be risking way more than you are I don't know what's going on with you that you don't want to do it but then traders a good example where she could risk more she's doing the opposite she's she's she's doing the opposite of you gala had but she's finding success so she can continue to do that but she definitely definitely definitely could be risking more money in her trades she's not doing it yet but she's doing the opposite of you so she's risking less than she can afford to risk like like almost nothing what she can afford but she and she's doing so well because she's very relaxed about the trade she's like well I'll take the dogs for a walk and maybe I'll look at a chart and maybe I'll call Melissa and then all of a sudden she's up $2,000 so I mean when you're sitting there and you can't get off your computer and you have a heart attack and you can't sleep at ninth and chances are you risk too much in the trade although Zen trader definitely I don't know why you're not risking more now but if you don't want to fine but you could you don't want to have to monitor the trades every second well there you go not reflecting on leverage or stops no you are looking at the stops tango Bravo what do you mean you you have stops yes you have stops you have to look at the difference from the entry in the stop you're confusing me here now what I'm I'm concerned I'm concerned you don't understand what we're doing here now if you short this trade here and I'm just making the numbers easy 7350 with a stop at 7380 if you had done that your risk is 30 cents a stop is 7380 if the stop would have gone over and hit you you would have lost money you would have lost 30 cents if you would take a hundred shares would have been 30 bucks if you had taken a thousand shares would have been 300 bucks a stop counts you lost me I'm concerned now I'm concerned because if you're trading here then you do need to understand this and you did the class but I know it's all new to you but I'm concerned you don't know what I'm talking about here while they're still talking about Warren Buffett I don't know I don't know all I'm saying is that you know it's great to admire someone admire the man for everything he's accomplished in his life but to pattern yourself after that and say I want to be that kind of trader is really not realistic it's a different time a different place a different world a different market not realistic you don't have the capital it's just not even something that I would even suggest to do admire someone for their wonderful amazing accomplishments but if you want to be an active day trader I you know look bargain hunting for things is not going to make you rich and I'm not saying you have to get rich doing this I'm saying you just want to make money whatever the amount of money is and I think flipping it over quickly if you make a half amount like you know today I had few minutes in here very very late it's good if you flip it over one that's what our goal is every day sometimes we do it sometimes we do more than that the goal is not to lose quite frankly the goal is to win and so I've been able to accomplish that and I do it very well so when you miss opportunities and you cherry pick the trains chances are you're gonna do CMG which you're gonna be down in and you won't do then five other good ones I called it work there we go Frisco knows Buffett he's his best friend I guess Buffett is a year trader not a day trader there you go good day you have 2109 in Netflix here's another option for you I'm just throwing it out there you could take Netflix off the table book the money and throw it into Amazon throw throw throw your profit into Amazon I'm just throwing it out there for you and Zen trader you could do that ride this puppy up today or get out of it here and then and then call call this trade done and throw the money into Amazon throw throw what you got back into this puppy here to whatever this popped and you'll be in this for a big move up so there's a secondary idea or hold them both all right listen have a good day everyone I will see you tomorrow morning I don't know what we do and I don't know what we get and gala had this did not go back down and break the low and it's at 72 69 and you didn't you didn't listen to me you keep saying every day you listen to me but I know that's a lie so you could keep telling yourself that you listen to me but you know whatever right we'll talk more about bargains later we did talk about it though we talked about it about dresses I know that we did we talked about it about clothing and it was a good talk and we'll talk about it more later I know that we did we can talk about it more but I've got to get going here it's late all right I'll talk to you later