 Okay, can everybody hear me? Okay, let me know if you can see the slime. Good day for everybody today, good job. Everyone should be done. So I'm gonna give a little lecture here today of Eric here with me today and I'm gonna give a little talk, just a short little lecture for the room and for Eric. So I'm gonna talk today about which are you. What does that mean? There's three different kinds of people that we're gonna talk about today. An optimist, a pessimist and a hopeful person. So first things first, you don't have to answer if you don't want to, but if you want to, type in the room, which of these people do you think you are? Do you think you're an optimist? Or do you think you're a pessimist? Or do you think you're a hopeful person? What do you think you are? You don't have to answer me, I want to, what if you want to? Do you think you're a pessimist? I don't know. Really? In general or just? I'm talking about in general, are you, this is in general, this isn't about trading. Wow. If you had to categorize yourself, which are you? Journey Woman says a hopeful person. Anna's an optimist, Wild Weasel's an optimist, Rumi's an optimist with experience. You think you're a pessimist? I don't know, I guess I am. Interesting. Okay. All right, well let's talk about the three different categories. Okay. Gala had just closed out Google with profit of 1920, good job, excellent. So he's an optimist. Okay, so an optimist is a person that what? A person that believes, okay, that things are gonna be okay, that things are good. Someone that has a positive attitude, that looks at the glass half full, if there was a glass that looks at the glass half full. Gator's saying optimism but realistic. All right, some of you are making up new categories. We don't have subcategories here. Well, a bear's optimist with a slash hopeful person. Okay. Anyways, an optimist is someone that has a positive attitude, that looks at the glass half full, kind of about life. And I'm talking in general here, but of course we're gonna relate this to trading because we trade and we talk about trading a lot and that's what we do in the room. A pessimist is someone that generally has a negative attitude first about something or doing something, whether it's trading or a relationship or a circumstance or whatever, they will err right to the side of the fact that something maybe negative would happen. Tend to be in the negative side. Not that they're not a friendly person in life, but they generally don't have, they have the attitude of looking at the glass with the water in it that it's half empty. Same glass that the optimist would look at and say is half full. Then you have the hopeful person. The hopeful person is someone that knows or believes that the good things are not gonna happen, but wants them to. So hopes and hopes and hopes that the good things are gonna happen like the optimist, but really doesn't believe they are going to happen like the pessimist doesn't believe good things are gonna happen. So that's the hopeful person. You think you're hopeful. Okay, all right. So here's an example. And I'm just gonna use myself as an example here for tomorrow just to break it down. Tomorrow it's supposed to snow. I have to go back to Pennsylvania tomorrow. So what would a hopeful person say? A hopeful person would say that I hope it doesn't snow even though I know that it's gonna snow, that every forecast out there says that it's gonna snow. A hopeful person would say I hope it doesn't snow so I can make it back safely and I don't get snowed on and wet, trudging my suitcase to the bus thing. I hope it doesn't snow and keep saying that, but knowing full well in reality that it is gonna snow. A pessimist is saying, gosh darn it, I knew this winter wasn't over. It's crappy weather. I don't really wanna go now at this time or take this bus. This is just so annoying. We've had 70 degree weather for the last week and a half. Why does it have to snow the one day that I'm going back to Pennsylvania? Then the optimist is, oh, we're gonna get a beautiful snow. I'm gonna get to go back to Pennsylvania and see the snow. Last snow of the year. It looks beautiful from my apartment. Looks gorgeous out. Gonna be a great week with my family. It's my sister's birthday. Gonna have a big party. It'll be fun to spend some time with my mom and dad. Maybe I'll get to help my dad shovel which I haven't done in however many years. And it's gonna be beautiful to see the snow in the trees in Pennsylvania. That's an optimist, okay? So you could take almost any scenario and look at life that way or something like that. Oh, journey woman says, change her to an optimist. Okay, we've done it. So how do you, I really said someone said party. Yeah, there's a party for my sister. That's why I'm going home. So anyways, the thing is that the whole idea of understanding which are you, which I think is important to understand which are you is that you're not stuck into any one of these categories. Even if you said to me, Melissa, I'm a pessimist, you don't have to be a pessimist for the rest of your life. Chances are you weren't born one, okay? So often what happens is that sometimes people's life circumstances create them to feel a certain way about life or things. Maybe they had hard times, okay? Or maybe they've had a hard time, for example, trading. So maybe the road trading has been very difficult for them. So they have a pessimistic attitude about trading, about learning about everything to do with the market. They're still trading. They're still trading, they're still risking money. Some days they win, some days they live, and in general they're down, but they really have a pessimistic and negative attitude about the market, which is not ever gonna create the success that they desire. The helpful person is not like the pessimist, but the helpful person is doing things, maybe doing the same strategy, or maybe not having any strategy at all, sitting in the same trading room day after day after day after day after day for five years and doing the same thing and hoping it'll work because they really like the person. Maybe they really, maybe it's their, maybe they really like the guy that's leading the trading room and they love watching his videos or whatever and they're hoping, hoping, hoping that this is gonna work for him, but in reality he knows it's not because he's been trading for five years and he's given this a long, long time and it's just not working for him. He's not making money and really this guy has no strategy at all and he doesn't wanna face it. He doesn't wanna face it. The person in the room is just calling trades all over the place all day long from nine and 30 to four. He wants to be hopeful that he can make money in the market, but he's been losing for five years and following the same guy or girl or whoever and it's not working out and that person is stuck and can't move forward because of them is unwilling and unable to recognize that something needs to be changed which is facing reality, which sometimes can be hard. Doesn't mean you can't make money in the market but it means that that guy is following the wrong person or doing the wrong strategy. And an optimist is someone that believes that they can make money in the market and has a good attitude, knows that when they make a mistake sometimes it is the luck of the draw with the market or the strategy and sometimes the optimist knows that it's their fault and they did something wrong, but they're optimistic, they're positive. They believe in themselves and they know they can make the change as necessary in order to fix it so they can do something and they can turn it around. An optimist is someone that when something bad happens they find a way to turn the situation around from a negative one into a positive one and that is an optimist and they also are not so hard of themselves that they give up, which the pessimists do a lot. Pessimist people give up before they even get out of the gate, okay? They almost give up before they even get off the ground at whatever point that happened in their life and this is again, relatable to trading or anything else. A pessimist is almost what I call someone that's jaded. Hard to fix, a lot of work. The hopeful person can be fixed, that person can turn into an optimist. Pessimist and people have a longer road to go and really have a lot of mental work to get over the hump to become an optimist. Not that they can't, nothing's impossible, but the attitude a pessimist had is that, is that there are certain things that are impossible. And so I think it's very important to understand which are you right now, today on March 9th. It doesn't mean that you're gonna be the same person forever. I would hope that if you are an optimist, you stay one. But if you are a pessimist, then think about moving yourself into maybe at least the hopeful person realm and then into the optimist because ultimately it doesn't serve your highest good to be anything other than an optimist. It really doesn't. Now let me see the comments here. Rumi is saying this is the definition of insanity doing the same thing over and over and expecting a different result. It sounds like it, but do you realize that Rumi is a lot of people that are like that? I'm not gonna go into great detail, but I spoke to a gentleman last night on the phone who was interested in the class this weekend and he's been following which made me think about this lecture, but I was gonna do this lecture at some point anyways. He's been following this person and he said, the person doesn't call the trade entries but says what they're looking at and he lost money with the person the first month and now he's not trading, but he feels hopeful. This person is hopeful that he's gonna be able to become a good trader like this person. He believes this person is a good trader. Well, I said, well, what's the strategy? And he's like, well, it's a broad range of things. So he couldn't really specify. And I said, well, you're learning anything. And he's learning about charts, he's learning about basics, but he's not really learning how to trade. He's not learning how to trade from this person, but he's hopeful that he can become this person, but how is he gonna become this person if he's not learning the strategy the person's doing? He never will. So this man is hopeful and probably will one day realize that he can't learn what the person does unless the person teaches them. You people would never know what I know to do it yourself if I didn't teach you specifically and exactly what I do, which is the entries exactly and the points. Now, whether or not you have questions and there's a learning curve is completely different than not having any clue at all what the person's doing and just saying, I wanna be like this person. They're a successful trader. Well, that isn't gonna help you make money. Watching them do it doesn't help you make money. There are a lot of hopeful people out there that wanna trade the market but have absolutely no clue how to get to the point of actually doing it. And there are people that are also optimistic that wanna trade but don't know how to do it either. That's okay. The somebody said about the reality, who was it? Gala had said he's optimistic but a realist. The idea of realism is you look at the road ahead of you and the road ahead of you has a path and that doesn't mean that the path isn't gonna involve work. The path involves work, okay? So the problem with the pessimist is the pessimist really doesn't have any more patience and no more doesn't wanna do any work at all. The pessimist is like, if this works right away then I will do it. If I can make a million dollars today then fine. And if I can't then screw it, I'm done or whatever. Again, this person is jaded, okay? So that's the pessimist. The pessimist says, you know what, there's a road here. I've gotta start the road. There will be stumbling blocks along the road, I understand that. Some of them are the mistakes that I will make. Some of them are things that have to do with just life's obstacles but I will overcome them. That's the realistic part is that there's stumbling blocks along the road that every person has. A hopeful person is there right at the edge of the road wanting to get on the road, hoping that it's gonna work out but is afraid to, is afraid that the stumbling blocks are real because they kind of are thinking what if it doesn't work they're afraid. So the hopeful person is in a fear mode. They wanna believe that it's gonna work but they're afraid to go through the process of the stumbling blocks to go on the road to walk down the road and actually go on, walk on the rocks because there will be rocks along the way. Say you're walking on the beach. Sometimes you walk on the beach early morning before they clean the sand and you gotta be careful. You don't cut your feet if you're on your bare feet with one of the seashells. Ruey just said TLRD broke 16. Is anyone still in that? Anyone still in that? Don't have a commission. Eric just jumped out of his seat and pressed the button. Come over when we're done. We'll look at that when we're done. Anyways, yeah, that was a good call. I'm glad I made the quick flip to that today. Anyways, the whole point of today's lecture and it just was a short talk today was that it would be great if everyone could be in this column here that comes to me or if you're not in this column that you get in this column after a period of time. And if these people have a lot of work to do, these people have some work to do, these people have a lot. The interesting thing is I have very few clients that are pessimists mainly because of the fact that I think if you're committed to doing what I do, if you're committed to learning with me then you're committed to spending the money for the class and it's not cheap. And so therefore you are committed and you believe that it's gonna work. You're either hopeful that you can do it or you are an optimist and you believe it's gonna work or you're gonna do the work necessary. So I think it's one of the reasons I have a good group of clients. You people here and even people that are not in the room that actually are trading on their own that I've taught. I don't think you're a pessimist. I've only known you for off and on since you did the class but you've been here for a couple of days. I wouldn't say you're a pessimist at all. You are hopeful, you're cautious. I'd say you're cautious, not pessimistic, you're cautious. But that's okay. Some people are crazy and they wanna go gung-ho. Cautious is there's nothing wrong with being cautious. Okay. I don't think you're a pessimistic person or you wouldn't be here for a week. Oh that's true, well. Yeah. What are you doing? Yeah. Oh man, I didn't hear it. Yeah. Does anyone have any comments or anything about this lecture? Think about where you are in the category. And again, it is a process if you're not an optimist to be in that category. I think some people, it has a lot to do with you. I think when you were young and the experiences you had early on when you were a child and say maybe the first 10 years of your life, how you were raised and how you brought up to look at things with a glass half full or half empty kind of thing. I think your upbringing has a lot to do with this. It's probably one of the reasons of a very optimistic person because I have very happy, happy parents. But you know, if you are a pessimist, you've got work to do. Acknowledge the fact that you are and work towards thinking more positively. Any comments, any questions? Good little lecture here today. Is anyone still in T-L-R-D? You're so funny. No, it's 10.36. You would be in a trade this late. This is kind of late to be in a trade. So you've been out of it now for over half an hour, you know? What if you had to go off, do something, you know what I mean? The goal is to get to the point where you can take the 2,800 shares and make the money that you did in that same trade and get it quickly, okay? Do the same trade that you did and get in and get out quicker with the size, but you're not there yet. But you've got to do the action and then you'll get to that point. Gator says good lecture, yeah. I think so too. So it's been a good time in here. I got one more day with Eric and we'll see what we get tomorrow. I think pay is a good gap down tonight. Think about the things I said today and good job Galahad, he made the money in Google and you exited where I had Eric exit. There's nothing wrong with that journey, women. You have got to be stern with yourself. Discipline, discipline, discipline, discipline, discipline. After you're out, don't do any more trades. Even Eric wanted to jump back into that. And it's a good lecture, you're welcome. Good job, Galahad. You got out with profit. Yay! We got in the other day when you did, whenever I called it, yeah. He's been in it for two days. But now you made $1,600 in Target. You made $1,900 in Google. So if you say it doesn't, you don't need to hold things to the be worth $1 million. There's absolutely no reason to hold these trades to thousands and thousands of huge home runs. 1,600 in this one, 1,900 in this one, 2,000 in this one, 500 in this one. Do you see? You don't have to, you chunk it out. Chunk it, chunk it, chunk it, okay? That's almost four grand in two trades in one week and two options. That's what you need to be doing. Yeah, I'm running the room tomorrow. I'm running the room, whether it snows or rains or shines. What about that? You seem like you want to just get out of dodge. No, I'm gonna take the bus. I don't have to drive. Yeah, I don't have to drive at all. But I mean, I do have to lug my suitcase up to the port authority. I'm not taking a cab for, not two blocks. Oh, okay. I mean, you know, it would take me longer to do that. I mean, it's impossible to get a cab in New York when it rains or snows, first of all. All right, have a good day, everyone. I will see you all tomorrow morning in the room, okay? Very, very good. I like this strategy. What strategy? I know a 35 cents is, you know, it's doable. My strategy? Yeah, I've been taking more and just getting, only getting a little move, bump, instead of waiting for a dollar. What do you think I've been talking about with the videos for the last hundred years? Don't you watch all the videos? No, but yesterday, that thing should have went flush. Okay. Yeah, it absolutely should have went flush. For this thing here, you know, this was not as expensive as a stock for one thing, okay? That's right, yeah. And it was down a lot. A, this was down a lot. Stock was cheaper too. Market was zipping. I thought the market bounced. I mean, there was a lot of other reasons. And A, I hadn't full on like 100% focused on this one this morning to figure out the numbers exactly. I did on the staples and then it never set up. So maybe I would have had more conviction, 16, 16, 16, if I had spent more energy into it this morning, but I didn't because of the fact that I was on top of the staples. But I see how I got right off of it. I got right off the staples then and we flipped and went to the other one. But yes, it's exactly what you gotta get to do. So basically you need five grand. Five grand, you get up to doing like that. You can take worse like that. Okay? Wow. So you just kinda, you're gonna have to chunk it out. You're gonna chunk it out. If you don't have to take the money out of your account then just chunk, chunk, chunk it out till you build it up.