 Testing, testing, testing. Let me know if everybody can see the slide. Welcome. The screen is up, and so that means that it is time to start. It's 4.30 on the East Coast. It is my sincere pleasure to welcome to our virtual stage today our host with the most, Melissa Armo of thestockswitch.com. Melissa, please start. Thank you so much. Excuse me. Good afternoon, everyone, and welcome. My name is Melissa Armo, and today I'm gonna talk about how to become a professional day trader. If you're interested in more information, you can email me at Melissa at thestockswitch.com and you can feel free to call me at 929-3200 GATT. What I decided to do today, actually, is just to give you the brief information if you want to learn from me about my class, and then I'm gonna flip to charts. So today's lecture is not gonna be a PowerPoint slide. It's all gonna be about charts. Just so you know. If you're interested in more information, you can also watch me on TV. I'm doing spots on Fox Business Network. And today we're gonna talk about how to become a professional day trader. Specifically, day trading is what we're gonna talk about, but we'll talk a little bit about options trades today. The main point, though, today, before I get over to the charts that I wanna make, is that you really have to chunk it out. We were talking about this in the trading room today. Chunk it, chunk it, chunk it, okay? It's day by day. That's how you put together a whole year, a whole month, a whole week when you are a trader. You take every trade as an individual trade, all right? You have to look at it as you're going through the process, Monday, Tuesday, Wednesday, Thursday, Friday. My system has about an 80% win ratio. That doesn't mean that I always hit 80%. Sometimes it's around 70-something. Sometimes I've been over 90 in certain months, when I'm on a hot streak. But to have anywhere above 70% is a good win ratio. That means, for example, that out of every 10 trades, you can expect either seven or eight of them to be winners and two or three of them to be losers. In order to be successful day trading, you really have to have many, many more winners than you have losers. So I teach my method if you're interested. And like I said, I'm gonna give you the class information here. If you're interested, you can reach out to me after the webinar. Kathy has my information in there. You can put it back. Kathy, my email, which is Melissa at thestockswish.com. But I teach what I do in a class. It's a two-day course. It's a course where you learn how to strategically find, pick and play stocks at our professional bearish gaps. The class is online and you can be anywhere in the world and take it, which is really nice. So you only need internet connection to do it. The bearish class, which is what I focus on mostly, which is bearish gaps, which we're gonna talk about today, is this weekend, Saturday and Sunday, October 21st and 22nd from nine to five. If you want to sign up, you have to email me for the information at Melissa at thestockswish.com. Cost of the class is $4,999. Now, I also do a bullish class, which I rarely do. I decided to do this, this month as well because it's earnings season. And it's usually the only class I do once or twice a year if that. This will be Sunday and Monday, October 29th and 30th from nine to five. Cost of this class is the same, but I focus on bullish gaps, which by the way, are not the same. And we are gonna talk about a bullish gap today. We're gonna actually talk about Apple. If you wanna sign up for both at the same time, the cost is $7,499. You would save $2,500. So if you really wanna learn how to go long and short, you can do both, sign up at the same time and save. And for those of you that are interested in a trial, you can email me at info at thestockswish.com. It should be a good week. Should be a good week and today was a good day. All right, so any questions before we get started, I'm gonna flip over here, just turn this off for a second and go to the charts. Kathy has my email in there. Can everybody see the chart? Let me know. Actually, before we even get started, I'm gonna talk about Netflix. I'm just gonna put this up right here. Hold on one second. Hold on one second, everybody. Okay, can you see it? There are three key things we're gonna talk about today in order to how you can become a successful trader, a successful professional trader because it doesn't do you any good if you're not successful. So in order to be successful, what do you need? Number one, here I'm gonna write it in the room. Number one, a good strategy. And by good, I mean one that is consistently profitable that has consistent trades and winning trades because it really doesn't do you any good if you don't have a strategy that sets up at least a couple times a week. If your strategy only sets up two or three times a month, it's gonna be very hard for you to make a living doing that. So number one, you need a good strategy. Number two, you need good money management and I use stops. So we will discuss that today as well. What does that mean? It means even if you have very few losers, you still have to have the losses be condensed so they can't get away from you too much because you don't wanna take one good trade and one bad trade and be down a lot. You should be able to take one good trade and one bad trade and still be up, okay? And number three, what else do you need to be a successful professional trader? You have to have a good attitude. And what does that mean? It means that you have to believe that you can do it. You have to be very positive. Even the days that things don't work out in your favor, you have to keep going. You have to persevere. And it sounds like such a simple, simple, simple thing but to be honest with you, a lot of people that trade the market don't have a good attitude, all right? So number one, just to review before we get into it, what do you need to be successful as a professional trader? Number one, good strategy. Number two, good money management. And number three, good attitude. And we're gonna talk about all three here tonight. And if you have any questions, you can write it in the room. Now let's talk about the strategy. A lot of people trade, they do not have a strategy at all. What's my strategy? For those of you that don't know, even though I just said I teach a class on gaps, it is gaps. And I'm gonna talk about Netflix right here simply because it's gapping live right now. 436 Eastern Time, the stock just reported. And guess what? It's gapping up. Kind of had a feeling it would gap up. But you never know. The stock could have gapped down, it could have gapped up, it gapped up. Now for those of you that don't know what a gap is, we're gonna look at it, this is live. Here is 405. Okay, you see here where I have the arrow right on my, on that candle. You got it? Here is to the left in the corner at the bottom. Do you see it? At the top? Everybody see that guy? Okay. So let's go and look over here. This was time here. Actually, let's go look here. Take. Here, let me blow this up. 359, market closes at four. So the close right in here, well actually let's just use four. The close right in here at four o'clock, which no one should be in an entry that long, but the close actually of Netflix was 202.50. Okay, so that was the close at four o'clock tonight. Then it had earnings. Looks like it reported right here at 405. So where Netflix closed at 202.50, and where it opens tomorrow, which it will open at a different price, how do I know? Right now it's trading at 206.29. So the differentiation even right now is almost $4.00, okay? And it's not even tomorrow morning. But anyways, getting back to what I was saying, a gap is when a stock closes at four and opens at a different price at 930, which is when the US market opens every morning. So assuming we would open and pretend it's 930 right away tomorrow, this Netflix would be gapping up. I do think this holds the gap up. I mean, I don't think it happened here. They're still reporting. But if it does, this is gapping up as of now with a close at 202.50, okay? So this is a bullish gap. There are bullish gaps and bearish gaps. We're gonna look at both today. So a gap is when something closes at a different price, it opens at a different price the next day. Now what is happening here is the stock is moving after hours. I do not play the after hours. If you want to do that, you can. But I find that it can be extremely wild. And one of the reasons is you can see it right here. The stock had a big spike up to 211. Now it's down here at 206. If you bought this in here, you might be down. It's really wild to play in the after hours. And also in the pre-market, which is something I don't do either, okay? So we wait for the debt. Now let me get rid of this. So that is the strategy itself. And that's an example of a bullish gap. Now I wanna show you an example of a bearish gap. This was a bearish gap today. Nordstrom, JWN. Love the store, love Nordstrom. But it gapped down today. So let's look at this one. Now I'm pulling up the daily chart. The stock really isn't moving much after hours. Here's the close. But the stock on Friday night, you can look up in the square in the top left-hand corner of my chart. See it? Closed at 4265 and open here in the morning at 4054. So it basically gapped down $2. And there you have it. So this morning, the stock gapped down when it opened at 930. So from Friday night to the morning and Monday today, it gapped down. So this is a bearish gap. So you have bullish gaps and bearish gaps. So what do I do? What do I teach in the class? What to do when you see the gap? Whether up or down. In other words, is Netflix along tomorrow? Or is it a short? Is JWN or was it this morning along? Or was it a short? So what I do is find the gaps and then I go through a process where I rate them. And I rate them on the daily chart. Now for those of you that don't know, I find gaps using this little scanner here. But there are many, many, many places that you can find gaps. You can buy a scanner. You can find them tons of places. This has the bullish gaps, which should be the gainers here and the New York and the Nasdaq exchange. Here's the list of 40 picks, 20 each in each exchange. And then you've got the losses here. Boom, boom, okay? So this is active right now, but in the morning, this is full with things you would look at. For example, ample JWN was on here this morning. That could see if it was on here now into the close. No, it doesn't look like it was, but this morning it was. Okay, so this was in this list in here this morning. So that's one place you can find gaps. Top 20 lists of ups and downs. You can also purchase a scanner if you want. It's not hard though to find gaps. The strategy itself is gaps, but what I do is I'm qualifying which are the good ones because there's many stocks that gap on any given day. Oh, let me think. Gallahad, what was a crappy gap today? Gallahad was in the room, or Barry. What was it, or Clip's Trader? What was a crappy gap today that I said, oh, that wasn't anything? C, hold on, let me find it. Citibank was gapping. Let me look at that. Here, this wasn't a good gap. This is an example of something that would be absolutely pointless to even waste your time with, just pointless. This is Citibank. I'm just gonna blow this up. So, you know, to be very specific, the stock did gap down. It closed on Friday. Now, this is C at 72.11, and it gapped down today, open at 71.38. So, it did gap down, and it gapped on almost a dollar. Pointless to play. Wouldn't have gone long this. Wouldn't have shorted it. Absolutely just nothing here to do. Here, this is the chart of city, okay? So, do you see here how sometimes there's stocks that gap down, for example, of the city. And actually couldn't have shorted this. But it really never set up right as long, and it really didn't go anywhere. And you can see this here in the 15 minute. Although the stock actually had a green bar and did have a rally in it, it was pathetic. And how do I know that? I can see it here. Here, let me take this off. This was what the stock did today. It pushed up really quickly, right away in the first 15 minutes, and then failed in every buy that happened all day long. And of course, there was nothing here to short. So, you wouldn't have known what to do with this. It wasn't a good gap. But technically it did gap, okay? So here was a bad one. I mean, this is what I call basically a nothing gap. So you have lots of these. Lots of lots and lots of gaps that you can't figure out what to do. What the gaps that are the good ones are gaps that you can predict. What is this going to do? It's predictable. Now what was a predictable gap today, Apple? And actually it was so predictable that it went to the target, okay? Now this was a bullish gap. I'm gonna pull this up. And if anybody has any questions in here, please, please, please ask me, okay? Anybody that's there, if you have questions. So this is a daily chart of Apple. The stock gapped up today. Again, number one, you have to have a good strategy. What does that mean? You have to be able to predict the direction the stock's gonna go on the live day so that you can take the trade and enter the trade and actually make money. If you can't predict, then Apple is a long or short. It's gonna be very difficult for you to know what to do to enter the trade. And you don't wanna take something in both directions. That would be absolutely ridiculous, okay? So what you're looking at here is a gap up in Apple. And I think this was news, some kind of news-related thing, actually. So Friday, the stock closed where? Boom. 156.99. Boom. Open. 157.90. Here's a gap up. Does everybody see it? So you get up in the morning. Let's find it this morning. I'm gonna put back the pre-market of Apple. And I'm blowing it up. Actually, it's opened crazy early. 4 a.m. Eastern time this is. So here was Friday night. Here you get up in the morning. The stock and the pre-market was gapping up. You could have rated this at 4 a.m. Eastern time today. It held, held, held. Boom, took off. So anyways, Apple was a long and it was a good long today. So the strategy here in Apple was a bullish gap up. You could have predicted the direction today was up on the stop, which means you would have looked for an entry to go long it. Now let's talk about number two, good money management. Let me take this off here. Okay. Any questions so far? Just ask me. We go over, over, over. Now this chart here is a one minute chart. For those of you that don't know, I like the one minute. Now the reason I like the one minute chart as a day trader is because there's such a level of accuracy that happens in this chart. You can see things so clearly. The moves happen and you can get good entries even in something like this, which is not what I would consider cheap as far as the price point. But you can get good entries in stocks in the one minute chart. And like I said earlier, always use stops. Now what's the purpose of a stock? Getting to the money management. It means if the trade goes past that number where you have a stop set, you will lose. But guess what? If the trade doesn't work, at least you only lose what you risk, otherwise you would lose an unlimited amount. Okay. Now let's go over the apple. Like I said, the stock closed here, then it gapped up in the morning. You could have been very aggressive with this and gone long it immediately. So I didn't see this till a little bit later. So this already had gone by the time I found it. Anyways, did find apple right in here. Does everybody see this? Rallying and pushed up. Everybody see here is apple moving higher. So if you happen to see this stock on your scanner and you rate it in the morning pre-market or maybe you saw it late like I did today after 9.30. You still look at the stock. You still rate the stock. You determine if the stock's a long or a short. If it's a long, you buy it with a proper entry. If it's a short, you short it with a proper entry. In this case here, apple was a buy. So you could have gone long apple right in here. Does everybody see this? Now I was talking about money management and stops. In this case here, I thought it was very, very important not to use a tight stop. So this level in here, does everybody see this? Is right where the stock took off. It was making its own brand new support. It took off and made a second morning move. So this is the first one here, pushed up, based, second move, boom. So then I saw this in the room late, okay? Late, late, late, but it was holding. What was it holding? It was holding the secondary level, okay? Does everybody see this? So anyways, in the trading room, I called an entry in the stock to go long in here, putting the stop at the secondary support level, which it very well could have broken. But guess what it did not, why? The stock was a good long. It was a good bullish gap, okay? So anyways, if you'd gone long in the stock here, right away is an apple on my call, right in here, wherever you got filled, 159.20, 159.25-ish, put the stop where I said 158.75, you could have risked about 40, 50 cents depending on where you got them filled. And guess what, the stock went right up, went over the high, right here into 10.35. So this is profit. So just showing you an example, if you would have got filled at 159.20 and you would have, if you would have gotten right out here, how much money would you would have made, about 45 cents? So you could have risked about 1,000 bucks and made about 1,000 bucks in this trade. That's a one-hour trade. That's, for example, what good money management? If you risk 500, you're looking to make 500. If you risk 1,000, you're looking to make 1,000. If you risk 300, you're looking to make what, 300. That is a good solid trade. Does anyone have any questions about this? Now sometimes a trade does not go to the full number. Sometimes it goes further. Guess what? That's what Apple did today. It went further. I'm gonna take this off and I'm gonna go over here. This again is a one-minute chart. Apple, I'm gonna blow this up as a 15 minute. If you stayed with the trade, the real target at Apple today was what? 160, which by the way, it did get there. Very, very late in the day, but it got there. You could have done a couple different trades in Apple today, you could have played it all day. You could have played it almost into the close. Apple was a bullish gap up, which rallying and got bought. The stock got bought. The only way you can ever make money going long anything is when the stock is actually getting bought consistently. And that goes back to what? The strategy. Lots of people try to go long stocks that are really short. Actually, before I go back to this 15 minute in Apple, I wanna show you something here because I wanna make a point. Is everybody understanding me? So I don't wanna talk too much over, over, over here about stuff. If you don't understand what I'm saying, ask me. I don't have any questions so far. Just let me know if you get what I'm saying. Getting back to what I was saying here though. The consistency in trading, where the good strategy comes from what? Going long stocks are getting bought, shorting stocks that are selling off, okay? Now, does that mean that you can never make money buying something that is not really getting bought? Yeah, sometimes you can, but it's dangerous. It's dangerous. I'm gonna show you one example here. Alta actually had a gap down that was a short. This is back here in August, August 25th. And if you shorted this as a day trade, you made money. Fell the next day. Then the stock lifted. And a lot of people thought the stock was gonna move higher. And actually, if you bought this stock, this is Alta. If you bought it anywhere in here, on this green bar day, the low of the day was 204, high was 212. Anywhere in here if you bought this, this is an $8 bar. And if you got out of it, the stock rallied all the way up to 231. So if you bought it in here and got out of it anywhere in here, you would have made money. But ultimately, this is really a crappy buy. Why? Where's the bullish gaps in here? There isn't any, okay? There isn't any bullish gaps in here. So what is the strategy that's going on that anyone would buy this stock? There's none. It's a very important point I'm making. Does everybody understand what I'm just looking at here? So although the stock rallied, it did. Although the low in here was 204.01 actually. Although the high in here, this is before the stock dropped and fell again, was 231.28. You say, oh gosh, Melissa, that was huge. No, it's not. It's really not huge. Not for this stock anyways. But the point is, what's the strategy? What are you buying? Does anyone know? Can anyone answer me? I mean, maybe I'm hoping, maybe we're talking to a good crowd here. Maybe I'm talking to a good crowd and everyone's saying, Melissa, I wouldn't buy that. I would hope so. Because the bottom line is that you won't consistently making money doing something like this because it's really not getting bought. It had a rally. It doesn't mean that it was really getting bought with a switch of a change in control. And how do I know? The stock ended up last week. I just want to point this out, but I don't want to spend too much time on this stock. The stock ended up gapping down and falling all the way on Thursday. It was 1012. Low was 189.50. So it not only did not hold this rally in here, there was no strategy to go long it and then it just collapsed on top of itself. Okay, sold off hard. Okay, let's go back to Apple. And he's getting back to what I was saying. To be consistently profitable, you have to have a good strategy, which means that you need to be able to predict the direction of stock will go. Number two, good money management, putting in a stock. If Apple had broke, just want to go over this. This level, you find it. It was around 158.70, 158.75-ish right in here. If Apple had broke this level today where the stop was, would have been a loss. It didn't do that. But if it was a loss, one loss is never gonna kill your account. Okay, in order to make money trading, you have to be willing to take risks. Usually I'm looking for one thing a day, maybe two, might be two. But one is the best where you take one trading, you make money immediately and you get out. Some days you have to wait a little bit to get paid for a bigger move in this case today was Apple and it definitely was worth it. But good money management means you have a target, you know what your goal is, it should be one turnover of your money at least minimum. If you can't stand it and you're kind of like a scalper, you can get out as soon as you're up every trade. There are people that do that in my trading room. But using stops is imperative because when you use stops, you're saying I'm willing to take this amount of risk but I'm not willing to take any more. And that's being disciplined and there's nothing wrong with that. It will allow you to grow your account and move forward faster and take more risk over time because you won't be scared that something will go against you in a crazy way which can happen. If you tried to short Apple today, for example, you got her, all right? Any questions so far here? Now, any questions? Because I'm gonna go to number three if I don't have any questions here. Is everybody getting everything I'm saying? I don't know, I keep going. So, the third thing is what? The third thing I said is you have to have a good attitude and a good attitude means what? Well, you have to understand that some trades won't work and you can't give up trading. And you have to understand that this is a process when you're trading to reach your goals and you may get frustrated with yourself along the way. You may get frustrated with the chart. You may get frustrated with the stock yourself, okay, for whatever reason. The market, you may not understand something, whatever. Okay, your broker, there could be so many things that make you feel frustrated like you wanna give up when you're doing this but you can't let those things control you. You have to be in control of yourself. A lot of people talk about trading and they always reference emotions. Be unemotional, da, da, da, da, da. I don't tell people that. As a human being, you have emotions, it's actually impossible for you to ever be in a state where you don't have any emotions. Even in sleep, there's emotions going through your body, where you have dreams, where you get into that REM sleep, where you feel good, where you might not feel good if you have a nightmare or something. So it's really impossible for you to ever be in a state as long as you're alive to not have any emotions. However, that doesn't mean you can't be disciplined. You can have emotions but be in control of yourself and that has to be the goal. So part of it is attitude and this is number three because if you have a good strategy, any of good money management, if you have a poor attitude, then it's gonna be difficult for you to do well. You will constantly probably not be able to achieve and fulfill your own expectations and traders have huge expectations of themselves. They expect every trade to work, they expect every trade to go to their dream target, traders expect the market to perform at their expectations with every trade. Some people expect every trade to go to the dream number, that's not possible either. You have to kind of look at it as a whole picture like I said when I showed the one slide where I said you're chunking it out. Look at trading as a process and a journey where you were continually moving forward. If you're doing that, you can feel good about what you're doing and you're probably doing better than most and then you have a lot of chances and a higher chance to achieve your goals. When will you achieve your goal? If your goal is, for example, to trade for a living, be a professional trader, if your goal is to make $1,000 a day and that's on average because some days the trades will be losses and some days there won't be trades and some days the trades will be more than a thousand bucks profit like the Apple today. But the point is that you have to look at it as a whole that you're moving forward overall, which is growing your account, learning through the process, which you could do if you're with me in the trading room, growing as a person and understanding yourself a lot better and that all is important too. Now I'm gonna use Apple here as a chart about attitude because Apple actually had earnings back here. I'm gonna go all the way back. I think this was the earnings, yeah. This was the summer earnings in Apple. So it happened here, it was at night, I think it was August 1st. The stock gapped up on the earnings and it failed to move higher on that day. And so it was kind of a bust as a long and yet the stock, the high in that day, if you look at this here is 159.75, we're through that. It took all of August, all of September, half of October. It took a good 60 days plus, almost 90 days for the stock to prove itself after it fell on the earnings back two and a half months ago. So if you love this stock here, okay, it took time to prove itself. Now the stock did have a move here initially, but it was tough going. If you look here at this, and I'm just looking at the period from August to when the previous high, which was from August 1st, actually it was one month, September 1st here, the stock ran up to 165, but it was a rough going. If you were long here, this was a really rough trade. Why? Stock fell, rallied, fell again, faked up again, fell again, and then rallied. The stock took a while to get moving again after it failed on the earnings here to move higher on the report. I mean, it did gap up, but on the day it couldn't have made money going long this and it was hard to do as an option trade and hard to do as a swing trade in here right after that. So finally today, like I said, two and a half months later, and this is not an earnings gap today, it's just a nice gap. I think it was news. Anyways, finally today the stock has proved itself and what do I mean by that? I mean, it's higher now. It's obvious it's higher. You could have bought the stock today and you could have done an option too. So if you believed in Apple back here or if you even believed in Apple here, if you believed in Apple here, or even here, the stock fell in here, people. You can see it in here. In fact, the low, it fell all the way down to 149.16 which is not the big of a deal, but it still fell. If you believed in Apple in any of these places, you were paid handsomely today and it helped your conviction today seeing this follow through. But if you got confused or you questioned yourself or you questioned the gap strategy, or you questioned the system, or you got mad at it, or if you took an option trade and it lost because you ran out of time because the stock did not go smoothly higher and it didn't go immediately higher and it broke in here like I said, it fell down to 149. If you lost in a trade in Apple before today and then today Apple set up and you said, screw this Apple, I don't wanna do anything with this Apple, I don't wanna do any gaps with this Apple, I'm mad at this Apple, I lost in this Apple, it didn't do the right thing last time, whatever, whatever you said to yourself, you would have missed a good trade today. A good trade today, which by the way, moved almost a dollar or more than that if you got in really early up to the number and by the way, this is higher. You could be in an option trade actually in this which I called in the option letter. In fact, Barry, you should be positive at this trade today. How much were you up? Eclipse trader, I don't know if you did this, Gala had, did you do the Apple option for the students that are in here? I'm just wondering, this is nice. I called an option in this that could run for the next week, two weeks, okay? Besides a day trade today. So, attitude is important because you will not be able to move forward if you have a bad attitude, if you take a trade that doesn't work. And I'm just using Apple as an example because it did prove itself, it did do everything right. In fact, it did everything right that this gap upset it was gonna do even here when I called the stock higher even in here and here and here and here. In fact, I talked about it on TV but it took time for the stock to get going. It doesn't mean you give up on the trade, it doesn't mean you give up on the stock, it doesn't mean you give up on the strategy and you have to have a good attitude but that is why you have stops if you're doing swing trades or day trades and you can even have a stop in an option meaning you cut yourself off if you're down half because you can always retake it, okay? Any questions from anyone here about anything with Apple? The idea of having a good attitude is very important if you wanna be successful because you're gonna have trades that don't work. You're gonna have days where things don't don't exactly work out the way that you want them to. And if you allow that to affect the next trade of the next day, it's gonna be very, very difficult for you to ever move forward. You constantly have to be moving forward if you're trading. Nobody wrote me back. Barry, are you listening? I guess Barry doesn't wanna tell me what he's up. Gallahad, are you listening? I just asked a question to a couple students and nobody wrote anything. Is anyone listening to me? Talking to myself. Am I talking to Kathy? Kathy's learning about Apple now. Kathy's probably gonna run out and buy the stock tomorrow. Anyways, any questions from anyone, it doesn't have to be a student. Any questions from anyone in here about anything I just reviewed or went over? The idea of making it as a trader, as a professional trader, is not beyond the realm of possibility. What people find difficult is really the three things that I just reviewed. First of all, a lot of people don't have a good strategy. A lot of people don't have one strategy they focus on. I only focus on gaps and nothing else. And the 26 points I teach in my class, which is the method that I determine whether or not a stock is long or short, which I'm very good at doing, okay? So that's the reason to come and do my class, whether to learn the bullish or bearish class, you'd learn both from me. Either way, a lot of people don't have a strategy. And then some people do and it's not good. Buying support, by the way, really isn't enough of a strategy. And why? There's multiple levels of support in a stock. As you can see here with Apple, this was a support. The stock broke the support and it fell, came down to the secondary level of support. Guess what? Still rallied anyways. So even though Apple broke this support and it probably could have even broke this support and come down to this one, it still would have been long. So you can't just say, well, I'm gonna buy re-support because this one didn't hold. This one did. How would you know that was gonna hold? You wouldn't have. You wouldn't have. Nobody does. So buying support actually is not a good strategy, just like shortening resistance isn't either. And it's one of the thing that's been happening with the market. Yeah, Kathy, I don't know. Gallowhead must not be listening to me and Barry must not be listening to me either. Anyways, a lot of people don't have a strategy and then some people that do don't have a good one. You've gotta have something that works most of the time. The money management I think is very important. I call in the room the entry to stock. For example, today, you could have bought the stock at 20, put the stock at 70. Bought the stock at 20, put the stock at 75. And I usually say the first number is the entry, the second one's a stop where you put a hard stop. It's a limit order. And I also talk in the trading room about targets and the target for Apple today was 160. So you gotta know where you're going with the trade. You also have to know the amount of money you're risking, what's your expectation is to make and profit, all right? And in the case of Apple here today, you just had to wait a little bit for this one. And as I said, attitude is very important. Why? Because not every trade is gonna work. And if you have a bad day, you can't give up on your trading. And even in something like this with Apple, the stock really proved itself. And the opportunity was there today and actually the earnings on this on November 2nd and this stock potentially could get over the high before then. That's a long way away. It's basically two weeks plus. So Apple could get over that previous high of 165. You know, it's only $5 away in the next two and a half weeks. Does anyone wanna go over anything specifically? Any charts you have questions in, the market, gaps, anything I talked about here? Let's quickly go back and look at Netflix. I'm not gonna need a lot of questions here today, which is fine. When I don't get a lot of questions, it's very difficult for me to gauge if people are understanding what I'm saying. If they're not understanding what I'm saying, it's hard for me to gauge what everyone is thinking. Is anyone here completely new to me that you've never heard me speak before? You don't know what a gap is at all. You've never traded in your life. Is anyone not new to trading but new to gaps themselves? Does anyone wanna talk to me or am I pretty much just talking to myself here? Cathy, Cathy, you're funny. Cathy's new to trading. Barry, there you are. I've been talking to you for 10 minutes and you've been ignoring me. You're up on Apple today. Gallahad's ignoring me too, but he's up on Apple. Eclipse Trader's enjoying the webinar, that's good. Finally, some comments. Anyways, what was I gonna say? Oh, I know. I know what the next point I was trying to make. It's not impossible to do this, but there's so many pieces of the puzzle that people need to pull together. This piece and this piece and this piece and this piece. But that's what people find so difficult. I wish I could say it's just one thing, okay? But it's not. You have to pull this piece and this piece and this piece and this piece together. When you pull everything together, then it comes together, okay? Trading is not just about doing one thing. Being successful isn't just about doing one thing. You have to do all the things together. I wish I could say if you had a great attitude, you can make it wrong. If you don't know what to do and don't have a good strategy, you're not gonna. I wish I could say if you had a great strategy, boom. You'll make money no matter what you do. Wrong, oh, you're gonna have a great strategy and if you don't, you stop, you don't have good money management or if you have a bad attitude, you're not gonna make it either. You gotta have everything together. Oh, Barry, I didn't. I didn't see anything you wrote. Kathy, Barry Saini answered me. I didn't hear it. I didn't see it. Gala had, you're not an apple? Oh, geez, I can't believe you didn't. And here, Gala has a good example. You didn't do that trade, why? Crazy. Anyways, the point I'm trying to, you lost conviction. Oh my gosh, the whole lecture then was for you, Gala had. So Gala had lost conviction in this chart. Oh my lanta. And there you have it. That stock will continue. Like I said, I think it makes a new hide before the earnings, wow. Barry's up $43, very good Barry. There you go, you gotta watch it. So that's nice. Follow it through, okay? Anyways, the point I'm trying to make though, Gala had just said he didn't do the trade. He lost conviction in it. Everything I just talked about and he lost conviction in it, which obviously it played out. It played out just as planned. Timing is something that in the market it's hard to predict. I think one of the reasons that day trading, I mean, I know, I'm probably the only person that's gonna say this to you and nobody may agree with me, but day training is so easy to look at to determine where somebody's gonna go very quickly. And the long term, as far as the timing I mean, in the long term, it's harder to say, well, Apple is going to go to this number by December 2nd, 2019. How could anyone say that's so far away? But today it's much easier to say Apple target 160. It's gonna go there two day, boom, and it does. In the shorter timeframe, which by the way, the day traders are in small short time frames because you're looking to get in and out on the day. That's what a day trader is. You get in after 9.30 and you get out before four. That's what a day trader is. Okay, that's the definition. You are in it and out in a day. And that's how you get margin and buying power of brokers that far exceed your cash equivalent because you gotta get out before four. Anyways, getting back to what I'm saying, it's so much easier to know where somebody's gonna go in a shorter timeframe than it is to tell where somebody's gonna go in a longer timeframe. So day trading really is the easiest thing that you can do for predicting where somebody's gonna go between 9.30 and four. It's much easier than to predict where somebody's gonna go. Like I said, one year out, six months out, two years out, 10 years later, okay? So why not do this thing? Why not get it right now? Why not take advantage of the opportunity if you can see where somebody's gonna go on a live day? And the faster the better. But in this case here, with long sometimes you gotta wait, which Apple took a while but it was up all day. But it's the same thing with a person. If it's 5.14 at night, which it is, and I asked you, where are you gonna be at 5.25 in 10 minutes? You're gonna say, well, I'm gonna be here and Melissa's still listening to you if you're still talking. So it's much easier to tell where you're gonna be in 10 minutes from now than it is to tell where you're gonna be in 10 days from now. If I said to you, where are you gonna be on October 31st? I don't know, Melissa. It's two weeks away. Do you see? So it's much easier to determine where you're gonna be in the next few minutes or the next few seconds or the next few hours than it is to determine where you're gonna be or what you're gonna be doing in days or weeks or months or years. So you're no different than a stock. And by the way, stocks are made up of people. So that's how they act. Stocks act like people. Today people wanted to buy Apple. So by golly they bought it. And it looks good, all right? Easier to see that than it is to be able to determine what are people going to think or do with Apple in two years from now or one year from now. Well, gosh, no one knows. Are they gonna have another new iPhone? Is there gonna be a problem? Nobody knows. What's the market gonna be doing? You don't know that either. It's too far away. So the reason stocks act like that is the same reason that people do because stocks are traded by people. Gallahad would have felt better taking Apple sooner. I did call it an option trade on Apple after the second one. I called three trades in this. You didn't do the second one either, so you didn't do it. Barry, I don't know what you're talking about. If you risked 170 bucks in Apple, how could you be down that? I'm lost. How many times did you do this trade? Gallahad, you're getting two picky about entries. You would have felt better doing Apple here, and I don't wanna get too off target here with specifics here with students, but Gallahad, if you would have went long Apple here, you would have been happier, but that would have been ridiculous because there was no way you would have been able to predict that the stock was gonna hold this level for the very reason that I just told you. The stock did fall in here, and the stock could have fallen more and more and more. It could have done it. So the bottom line is you would have taken this here. This is a crappy, crappy entry. I called this in here, I have to go back and look at the day when it turned around, and you didn't do it, and you could have done it there. Today was a really solid, solid call though, and I have no idea why you didn't do it today. I don't even know why you didn't have a conviction in this today, I talked about it in the room for an hour. Anyways, you can't get trades like this in here because they're poor trades and they're poor entries, and you don't know the stock's gonna hold in there at all. What are you buying in here? You're not buying anything. This isn't even barely a green bar. There's no way you get entries like this in here, at least not for options trades, and if you buy it as a swing trade and can hang on, you could be down before you're up. It's a poor, poor entry. Gary, I mean, Barry, I'm sorry, Gary, Barry, I'm reading too many things. I don't wanna get too off topic here, but Barry, we talked about this earlier, going back, let's go back to the money management, okay? So money management is what? Either you do every single trade and hold it to the dream target, which I'm not suggesting you do, by the way, or you take the trade and you've gotta have a stock. Now, it depends whether you're day trading or options, but you're gonna have stocks for both. So you gotta either tightly money manage yourself so you can take all the trades, okay? I'm talking about the options here, or you do all the trades and then you hold them all. Fact, let's see, where did the market go today? Before I let everybody go here, just let me look, oh my gosh, we ran up here into the close. Look at that, we took all day. We're gonna pop in here. When is Goldman? When does Goldman report? Here, does anybody know? I wanna look that up, because we might wait to pop when Goldman reports. Hold on one second, everybody. Let me just see, Goldman Sachs reports this week and the market looks higher actually, it's for tomorrow and Netflix is up tonight too. The market looks great. Let me just see here when Goldman is this week. That's the one big one now after Netflix. It might be tomorrow, hold on. It is, it's tomorrow morning. Oh my Lanta. So Goldman Sachs reports tomorrow morning, guess what, I don't know what it does, but let's look at the chart here and just see. The way things are setting up, not that the market needs a reason to continue higher, however, it might continue higher. If Goldman gets a lift, then it might go, and actually it got bought today, look at this. Okay, this is the chart of Goldman Sachs reports tomorrow morning for the open, the stock will gap. I don't know if it gaps up, I don't know if it gaps down. It had a big green bar today. The stock looks very strong. If Goldman gaps up, the banks will gap, the will rally tomorrow, the market will move higher and we could get a nice big, fat green day in the market which is actually, it's been waiting to do now for more than a week and I've been expecting and could have happened today. And I've been calling the market higher every single, single day and it's moved higher than it rests. And today it moved higher than it rested and then it moved into the close again. And we could gap, we're not gonna give up tomorrow, but Goldman will have a lot to do with this. If you trade futures, you'd be focusing on the market. You'd be looking at the gaps in the market. That's what you'd be looking at. Any questions from anyone about anything at all? Good lecture topic tonight, you know, I'm not even gonna say what this gap in Netflix does right tomorrow immediately because it's so far away. It's just so far away from now. Right now it's at 205, it was up at 211. Really difficult to say where this will be tomorrow morning in the pre-market, but it's definitely a watch. Any questions from anyone about anything at all? Hopefully some people learned some things tonight. Really didn't get a lot of questions, but hopefully some of you learned some things. Think about the three things I told you to focus on. It's earnings season, we'll see what happens this week. If you're interested in a trial, you can email me at info at thestockswish.com or melissa at thestockswish.com. And if you wanna sign up for the class, it's this weekend for the bearish and the following Sunday and Monday for the bullish. Any questions from anybody? Okay, don't. Very good, thank you Kathy for having me. You're welcome. Thanks a bunch. Email me if you have any questions, people. Melissa at thestockswish.com, you're welcome.