1 00:00:01,280 --> 00:00:03,520 Speaker 1: This episode is brought to you by P and C Bank. 2 00:00:03,920 --> 00:00:06,680 Speaker 1: A lot of people think podcasts about work are boring, 3 00:00:06,880 --> 00:00:10,719 Speaker 1: and sure they definitely can be, but understanding of professionals 4 00:00:10,800 --> 00:00:14,040 Speaker 1: routine shows us how they achieve their success little by little, 5 00:00:14,440 --> 00:00:18,079 Speaker 1: day after day. It's like banking with P and C Bank. 6 00:00:18,560 --> 00:00:21,360 Speaker 1: It might seem boring to save, plan and make calculated 7 00:00:21,400 --> 00:00:24,479 Speaker 1: decisions with your bank, but keeping your money boring is 8 00:00:24,520 --> 00:00:27,840 Speaker 1: what helps you live or more happily fulfilled life. P 9 00:00:27,960 --> 00:00:32,800 Speaker 1: and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly 10 00:00:32,840 --> 00:00:35,479 Speaker 1: Boring since eighteen sixty five is a service mark of 11 00:00:35,520 --> 00:00:38,760 Speaker 1: the PNC Financial Service Group, Inc. P and C Bank 12 00:00:39,159 --> 00:00:41,360 Speaker 1: National Association Member FDIC. 13 00:00:43,159 --> 00:00:46,120 Speaker 2: What about the trading tip of the week? 14 00:00:46,120 --> 00:00:48,600 Speaker 1: What's the trading tip of the week for. 15 00:00:48,680 --> 00:00:50,560 Speaker 2: My futures traders? I want to be very honest and 16 00:00:50,600 --> 00:00:52,960 Speaker 2: say I want you guys to have less fear and 17 00:00:53,080 --> 00:00:56,640 Speaker 2: more kahunas. The thing I do love about the options 18 00:00:56,680 --> 00:01:00,920 Speaker 2: market is that people who just started options trading there 19 00:01:01,040 --> 00:01:05,679 Speaker 2: like eight contracts and they're gonna hold. Meanwhile, futures traders 20 00:01:05,720 --> 00:01:08,640 Speaker 2: play it too small. So a target that I love 21 00:01:08,680 --> 00:01:11,440 Speaker 2: is thirty two three contracts go for forty two tips 22 00:01:11,480 --> 00:01:13,559 Speaker 2: on the S and P five hundred. That's a little 23 00:01:13,560 --> 00:01:16,000 Speaker 2: bit over ten points. That should put your like over 24 00:01:16,040 --> 00:01:18,360 Speaker 2: seventeen grand per trade, and if you get two or 25 00:01:18,400 --> 00:01:20,880 Speaker 2: three of those in a month, you'll be a okay. 26 00:01:21,120 --> 00:01:24,280 Speaker 2: But in lesson for this week, you have to learn 27 00:01:24,280 --> 00:01:27,400 Speaker 2: when to put on size. You can't play the one 28 00:01:27,600 --> 00:01:31,800 Speaker 2: to four contract game forever because you're going to miss 29 00:01:31,800 --> 00:01:35,039 Speaker 2: your window of actually making real money that can change 30 00:01:35,040 --> 00:01:36,880 Speaker 2: your life that you can then put into the market 31 00:01:36,959 --> 00:01:40,720 Speaker 2: or buy an amazing property like Rasha did on a discount. 32 00:01:41,280 --> 00:01:43,320 Speaker 2: You have to have enough cash flow to be able 33 00:01:43,360 --> 00:01:45,360 Speaker 2: to do so. So thirty three contracts is a target. 34 00:01:45,360 --> 00:01:45,680 Speaker 1: I love. 35 00:01:46,200 --> 00:01:48,440 Speaker 2: Go for forty two tips. You'll be a seventeen and 36 00:01:48,520 --> 00:01:50,840 Speaker 2: some change per trade. Do that three times a month 37 00:01:50,880 --> 00:01:53,440 Speaker 2: and you'll be okay. But have some balls to trade. 38 00:01:53,320 --> 00:01:55,840 Speaker 1: Have some clueunds. I'm with you, you do uh, I'm all 39 00:01:55,880 --> 00:01:59,240 Speaker 1: about the mitigative risks. But yeah, having two contracts go 40 00:01:59,400 --> 00:02:02,920 Speaker 1: to a thousand sucks when you get ahead like five, right, 41 00:02:02,960 --> 00:02:05,760 Speaker 1: it's just about yeah, you got to have to cap on. 42 00:02:05,960 --> 00:02:07,280 Speaker 1: I just want to add to this because I've been 43 00:02:07,320 --> 00:02:10,040 Speaker 1: I've been having a conversation with people. Especially since the 44 00:02:10,120 --> 00:02:13,640 Speaker 1: last options class about emotional intelligence, I feel like that 45 00:02:13,639 --> 00:02:16,560 Speaker 1: that's overall the theme that has just been coming back 46 00:02:16,919 --> 00:02:21,760 Speaker 1: into my conversations is the emotional intelligence in life that's necessary, right, 47 00:02:21,840 --> 00:02:24,440 Speaker 1: to navigate through the world, to navigate through relationships, to 48 00:02:24,520 --> 00:02:27,919 Speaker 1: navigate through business, you need to have it. Investing it 49 00:02:27,080 --> 00:02:31,519 Speaker 1: it's also needed, right, So, like when we see when 50 00:02:31,520 --> 00:02:33,720 Speaker 1: we have volatility like we did two weeks ago, like, 51 00:02:33,800 --> 00:02:36,600 Speaker 1: how are you reacting to that? Like? What? How how 52 00:02:36,600 --> 00:02:38,640 Speaker 1: do you feel when you see your account go down? 53 00:02:39,280 --> 00:02:41,600 Speaker 1: It draws down because the entire stock market went down? 54 00:02:41,720 --> 00:02:44,160 Speaker 1: Are you moving right? Are you budgeting? Are you selling? 55 00:02:44,320 --> 00:02:46,560 Speaker 1: Like a lot of people that some people I shouldn't 56 00:02:46,560 --> 00:02:48,680 Speaker 1: say a lot. Some people will sell. Some people will say, oh, 57 00:02:48,680 --> 00:02:50,760 Speaker 1: we've been here before. Some people this is their first 58 00:02:50,800 --> 00:02:52,960 Speaker 1: time and they're like, hey, there's no way to start 59 00:02:52,960 --> 00:02:55,320 Speaker 1: my investing journey. Right. But this is why we always 60 00:02:55,320 --> 00:02:57,440 Speaker 1: talk about long term. This is always why we talk 61 00:02:57,480 --> 00:03:00,280 Speaker 1: about by time, because when you buy time, you're buying 62 00:03:00,320 --> 00:03:03,280 Speaker 1: into it. The volatility of the market you can't control that. 63 00:03:03,320 --> 00:03:05,000 Speaker 1: We had this conversation the other day. I'm like, yo, 64 00:03:05,080 --> 00:03:07,360 Speaker 1: we made an investment. I'm like, look, we got time. 65 00:03:07,520 --> 00:03:09,160 Speaker 1: We got we got some time. When I hear the 66 00:03:09,280 --> 00:03:12,240 Speaker 1: market now it's a strong company. We got to really 67 00:03:12,240 --> 00:03:14,840 Speaker 1: believe in the company. Believe in the research. It's like 68 00:03:15,200 --> 00:03:18,959 Speaker 1: have emotional discipline. But when you do your research, have 69 00:03:19,080 --> 00:03:22,000 Speaker 1: conviction in it. Trust what you what you did, trust 70 00:03:22,080 --> 00:03:26,200 Speaker 1: what you did, and even if right it there's a 71 00:03:26,320 --> 00:03:29,639 Speaker 1: draw down or it hits that threshold, remember you had 72 00:03:29,639 --> 00:03:33,600 Speaker 1: your plan. Right, if it was some people fifty percent, 73 00:03:33,919 --> 00:03:38,280 Speaker 1: all right, well yeah, get back and there'll be another opportunity. 74 00:03:38,280 --> 00:03:40,600 Speaker 1: If you believe in that, if you trust the research 75 00:03:40,640 --> 00:03:43,280 Speaker 1: that you've done, have conviction, but have the emotional talents 76 00:03:43,480 --> 00:03:45,880 Speaker 1: to say, you know what, I understand what this feels like. 77 00:03:45,920 --> 00:03:48,480 Speaker 1: Because the day that you run up sixty percent, you 78 00:03:48,480 --> 00:03:52,760 Speaker 1: should feel the same exact way. Right, it should be 79 00:03:53,120 --> 00:03:56,000 Speaker 1: even killed, have your seat bolt on, trust the research, 80 00:03:56,040 --> 00:03:58,280 Speaker 1: trust what you're doing, and just be patient. 81 00:04:00,000 --> 00:04:02,960 Speaker 2: The feature side, like thirty three contracts for Nazek, it's 82 00:04:02,960 --> 00:04:06,480 Speaker 2: thirty three thousand es the sixteen thousand, five hundred. I'm 83 00:04:06,480 --> 00:04:08,880 Speaker 2: not saying it's a small chuck to change, but I 84 00:04:08,960 --> 00:04:11,360 Speaker 2: know some people who are doing one hundred thousand dollars 85 00:04:11,400 --> 00:04:14,160 Speaker 2: elsewhere and getting nine percent, and it's like if you're 86 00:04:14,200 --> 00:04:16,640 Speaker 2: able to get you to four hundred percent inside of 87 00:04:16,640 --> 00:04:19,839 Speaker 2: a trade or two at some point. No, when to 88 00:04:19,880 --> 00:04:22,080 Speaker 2: put on risk if you have your long you have 89 00:04:22,120 --> 00:04:24,480 Speaker 2: to have your long term porfolio set up first. And 90 00:04:24,520 --> 00:04:28,320 Speaker 2: even with this drop has happened, if you've bought in March, 91 00:04:28,800 --> 00:04:31,560 Speaker 2: in April and last year, you should still be up 92 00:04:31,839 --> 00:04:35,400 Speaker 2: a tremendous amount. Now you can put on some risk 93 00:04:35,600 --> 00:04:38,159 Speaker 2: and if the market's falling to the downside and you're short, 94 00:04:38,200 --> 00:04:41,560 Speaker 2: and you should be up even more. Six to your 95 00:04:41,560 --> 00:04:46,320 Speaker 2: game plan. You like to the market, Hell yeah when 96 00:04:46,360 --> 00:04:49,440 Speaker 2: it's falling, and it's a great lesson. Only short when 97 00:04:49,440 --> 00:04:51,240 Speaker 2: the market is falling and go long when it's going up. 98 00:04:51,240 --> 00:04:53,640 Speaker 2: That's why I say you have to obey direction. Look 99 00:04:53,680 --> 00:04:57,640 Speaker 2: at that month, week, then day. Obey it always. But 100 00:04:57,680 --> 00:04:59,520 Speaker 2: when the market is falling, the market is going to 101 00:04:59,560 --> 00:05:02,520 Speaker 2: fall fast. In the caras got to take advantage of it. 102 00:05:02,839 --> 00:05:06,080 Speaker 1: I'm just not only in futures's for sure. I've just 103 00:05:06,160 --> 00:05:11,359 Speaker 1: never I've never been a big put guy. It's probably 104 00:05:11,360 --> 00:05:12,200 Speaker 1: not worth the risk. 105 00:05:12,320 --> 00:05:16,080 Speaker 2: But the futures market is evenly weighted because they only 106 00:05:16,120 --> 00:05:19,280 Speaker 2: care about the transaction and liquidity inside of it, So 107 00:05:19,360 --> 00:05:21,880 Speaker 2: you're getting in and out inside of a day anyway, 108 00:05:22,480 --> 00:05:23,680 Speaker 2: So you're just playing the true direction. 109 00:05:23,760 --> 00:05:25,680 Speaker 1: Yes, I say in the market makes a lot of sense. 110 00:05:25,680 --> 00:05:29,839 Speaker 1: Is I just don't have the around so much. And 111 00:05:30,200 --> 00:05:33,479 Speaker 1: like I said, volatility happens puts And if people do that, 112 00:05:33,520 --> 00:05:35,760 Speaker 1: great you can make money both ways. Right when the 113 00:05:35,800 --> 00:05:37,200 Speaker 1: market goes up, you can make it on calls. You 114 00:05:37,240 --> 00:05:38,520 Speaker 1: can make it on puts on the way down. 115 00:05:38,839 --> 00:05:39,080 Speaker 2: Great. 116 00:05:39,120 --> 00:05:41,520 Speaker 1: If you're skilled at that, great, If that's your strategy, great. 117 00:05:41,800 --> 00:05:43,080 Speaker 1: I just never have been big on it. 118 00:05:44,600 --> 00:05:47,000 Speaker 2: There's no reason to go short an asset that normally 119 00:05:47,040 --> 00:05:52,040 Speaker 2: goes long. Michael Burry, I love you dealing, but there's 120 00:05:52,080 --> 00:05:57,080 Speaker 2: no reason to continually short an asset that goes Yeah. 121 00:05:57,520 --> 00:06:02,440 Speaker 1: Yeah, speaking of that, yeah, an asset that goes up? Ernerds, 122 00:06:02,440 --> 00:06:04,599 Speaker 1: what's up? 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