WEBVTT - Cliff Notes: STOCK TRADING FOR BEGINNERS 0:00:00.400 --> 0:00:04.280 You just realized your business needed to hire someone yesterday. 0:00:04.800 --> 0:00:09.520 How can you find amazing candidates fast? Easy? Just use Indeed. 0:00:09.960 --> 0:00:12.680 Stop struggling to get your job posts seen on other 0:00:12.760 --> 0:00:16.439 job sites. With Indeed sponsored jobs, your post jumps to 0:00:16.480 --> 0:00:19.000 the top of the page for your relevant candidates, so 0:00:19.120 --> 0:00:22.119 you can reach the people you want faster. According to 0:00:22.160 --> 0:00:26.120 Indeed data, sponsored jobs posted directly on Indeed have forty 0:00:26.120 --> 0:00:30.040 five percent more applications than non sponsored jobs. Don't wait 0:00:30.080 --> 0:00:33.519 any longer. Speed up your hiring right now with Indeed, 0:00:33.960 --> 0:00:36.200 and listeners of this show will get a seventy five 0:00:36.280 --> 0:00:39.440 dollars sponsored job credit to get your jobs more visibility 0:00:39.600 --> 0:00:45.320 at indeed dot com slash pod Katz thirteen. Just go 0:00:45.360 --> 0:00:50.120 to Indeed dot com slash pod Katz thirteen right now 0:00:50.479 --> 0:00:53.040 and support our show by saying you heard about Indeed 0:00:53.080 --> 0:00:57.400 on this podcast. Terms and conditions apply. Hiring Indeed is 0:00:57.440 --> 0:00:58.240 all you need. 0:00:58.760 --> 0:01:02.480 Less than one Please write this down everything I'm going 0:01:02.480 --> 0:01:04.679 for ninety one at night. The risk to reward ratio 0:01:04.760 --> 0:01:07.480 is everything. I wish I could have had my brother on, 0:01:07.560 --> 0:01:09.000 but I took up about an hour and a half 0:01:09.000 --> 0:01:11.320 of this time on a star club call, and at 0:01:11.360 --> 0:01:14.880 one point he was in the AMC trade and he 0:01:15.000 --> 0:01:18.000 was down eleven thousand dollars. But remember I told you guys, 0:01:18.120 --> 0:01:21.720 risk reward is always everything. You either want to risk 0:01:21.800 --> 0:01:24.520 one dollar to make five write that down. You either 0:01:24.800 --> 0:01:27.520 want to risk one to make ten, one to make 0:01:27.560 --> 0:01:30.000 twenty five, one to make fifty, or one to one hundred. 0:01:31.160 --> 0:01:32.840 A lot of times we will get down in the trade. 0:01:32.880 --> 0:01:35.319 And then, of course I was listening to the episode 0:01:35.319 --> 0:01:37.160 that you guys had with trapping Trap. Is like, hey man, 0:01:37.200 --> 0:01:39.600 sometimes in one of my trades, I may be up 0:01:39.760 --> 0:01:42.039 sixty grand and some days I may be only up 0:01:42.120 --> 0:01:45.039 eighteen one hundred. The thing that allows us to stay 0:01:45.040 --> 0:01:47.800 in the trade is that you have to know what 0:01:47.880 --> 0:01:51.800 the risk to reward parameters that you are using beforehand, 0:01:52.000 --> 0:01:54.240 so you know when to get in and when to 0:01:54.240 --> 0:01:57.000 get out. So that's number one less than number two. 0:01:57.720 --> 0:02:00.160 Everyone was asking what did he start with? But the 0:02:00.160 --> 0:02:02.520 thing that he wanted to stress to everyone it doesn't 0:02:02.520 --> 0:02:05.600 matter what you start with. You just have to start. 0:02:05.760 --> 0:02:07.280 I'm gonna be honest. I know some of you have 0:02:07.280 --> 0:02:08.880 been watching the show since last year and you have 0:02:08.960 --> 0:02:11.280 not taken your first trade yet or your first investment. 0:02:11.320 --> 0:02:15.200 Why I've given you every good stock on the planet, 0:02:15.320 --> 0:02:17.480 every bad one, and the three that I man messed 0:02:17.560 --> 0:02:19.960 up on I've said, hey, man, I messed up my 0:02:20.000 --> 0:02:22.680 bat and made up for it. You have to get started. 0:02:23.720 --> 0:02:27.000 Lesson number three, stop hesitating and take the trade. And 0:02:27.000 --> 0:02:30.000 I'm gonna just say this humbly and respectfully, especially when 0:02:30.040 --> 0:02:32.160 I call it. Some of you should know my body 0:02:32.520 --> 0:02:35.840 language and mannerisms enough when something is going to take off, 0:02:37.480 --> 0:02:41.919 take the trade. Don't hesitate. Do your own research. Even 0:02:42.040 --> 0:02:44.640 if we have a parabolic move to the upside and 0:02:44.760 --> 0:02:46.920 we slide back down and there's another chance to get in. 0:02:47.160 --> 0:02:50.000 Usually on here I will call out where, and then 0:02:50.080 --> 0:02:52.200 for those of you ask questions tonight, please have four 0:02:52.280 --> 0:02:54.400 or five stocks that you want to ask about tonight 0:02:54.480 --> 0:02:56.720 so I can be able to help you. Lesson number four, 0:02:57.040 --> 0:03:00.480 Master the craft. This is most important. It took him 0:03:00.560 --> 0:03:05.240 eleven months of practice with frustration, and he's married. So 0:03:05.320 --> 0:03:06.640 fellas you know how it is if you got a 0:03:06.639 --> 0:03:09.160 significant other or you're married, you're working on something and 0:03:09.160 --> 0:03:12.440 it doesn't produce results. The significant others like, yo, what 0:03:12.680 --> 0:03:14.320 are you doing wasting time? You could be working on 0:03:14.360 --> 0:03:17.600 something else. It took eleven months. Let me ask you this, 0:03:18.040 --> 0:03:20.720 But would you practice and learn how to trade for 0:03:21.040 --> 0:03:24.240 ten months or eleven months to then turn around while 0:03:24.320 --> 0:03:27.359 on vacation to make two hundred and eighty two thousand 0:03:27.400 --> 0:03:29.560 dollars in a matter of days. Put yes and no 0:03:29.639 --> 0:03:34.760 in chat master the craft. This is a business. Some 0:03:34.880 --> 0:03:37.480 kids work on going to the NBA for nineteen years 0:03:37.480 --> 0:03:39.600 of their lives, twenty years of their lives. A lot 0:03:39.640 --> 0:03:41.840 of people go to school for twelve years. You're telling 0:03:41.880 --> 0:03:45.920 me you can't take eleven months, twelve months, eighteen months, 0:03:46.560 --> 0:03:49.400 sixty months to master craft in which you can make 0:03:49.480 --> 0:03:53.560 money on demand. I'm telling you it is absolutely worth it. 0:03:53.880 --> 0:03:56.360 Number five, you have to learn how to trade to 0:03:56.360 --> 0:03:59.960 be a better investor. So for my long term investor, 0:04:00.320 --> 0:04:02.640 this is the gap that you have to close. And 0:04:02.680 --> 0:04:05.480 this is the sweet spot that I saw. I noticed 0:04:05.520 --> 0:04:08.200 most investors did not know how to trade well, and 0:04:08.280 --> 0:04:10.960 most traders don't know how to invest. So I was like, 0:04:11.040 --> 0:04:14.440 let me take Warren Buffett, Peter Lynch's model and blended 0:04:14.480 --> 0:04:17.599 will part two the Jones Road in one. And when 0:04:17.640 --> 0:04:19.919 you are a good trader, you're able to get better 0:04:20.040 --> 0:04:24.080 entries long term. Then you have to become a better 0:04:24.120 --> 0:04:27.200 investor to be a better trader to all my traders. 0:04:27.320 --> 0:04:29.320 Get off of the five minute, get off of the 0:04:29.360 --> 0:04:32.520 one minute. It is a losing parameter. Go to a 0:04:32.600 --> 0:04:34.880 higher timeframe. And here's the thing. I've always said it. 0:04:35.200 --> 0:04:36.839 The cheat code is if you wake up and you 0:04:36.880 --> 0:04:39.400 see that Nasdaq is up a ton, if you're invested 0:04:39.440 --> 0:04:41.480 in it, or the S and P five hundred is up, 0:04:41.520 --> 0:04:43.479 you generally know what the market is going to do 0:04:43.520 --> 0:04:46.480 for that day. So if you're already long term investing 0:04:46.560 --> 0:04:48.359 and gives you a cheat code to know what to 0:04:48.400 --> 0:04:52.400 do in try day less than number seven. Twelve trades 0:04:52.400 --> 0:04:56.679 per year. Everybody on here, Earner's Bread Panda Family, everybody 0:04:56.760 --> 0:05:01.360 on YouTube, twelve trades per year. Here's the thing. Once 0:05:01.360 --> 0:05:03.680 you start to bleed to thirty sixty eighty trades, if 0:05:03.680 --> 0:05:06.360 you're not using the algorithm, you have a high probability 0:05:06.360 --> 0:05:08.800 of losing. Who in here thinks they can win ten 0:05:08.880 --> 0:05:11.080 out of twelve trades or nine out of twelve trades 0:05:11.880 --> 0:05:15.239 most here can. But you hear so much noise, which 0:05:15.520 --> 0:05:19.120 if talk is cheap, those that are debating are trying 0:05:19.160 --> 0:05:22.120 to keep you from getting real money. All you need 0:05:22.160 --> 0:05:24.279 is twelve good trades for the year. To make a 0:05:24.320 --> 0:05:29.760 significant impact on your life less than eight asymmetric risk 0:05:29.800 --> 0:05:33.000 to reward And I'm going to bring it up again later. 0:05:33.640 --> 0:05:39.000 But asymmetric risk to reward is everything. Indicators are not 0:05:39.360 --> 0:05:43.120 the things that matter most. Everyone's always talking about indicators 0:05:43.240 --> 0:05:47.960 RSI stochastic moving averages v WOP. That's if that was 0:05:48.000 --> 0:05:51.760 the secret, everyone that used emas or SMAs would make 0:05:51.800 --> 0:05:55.080 a lot of money. This is it risking one to 0:05:55.120 --> 0:05:57.080 make twenty five. So I want you to be dedicated 0:05:57.120 --> 0:05:59.760 for the next year. Write in chat right now, if 0:05:59.800 --> 0:06:02.520 you are putting one dollar risk on the table, how 0:06:02.600 --> 0:06:06.679 much are you looking to earn it? Every trade, every earner, 0:06:06.720 --> 0:06:08.640 I need you to reply. Every Red Panda member, I 0:06:08.680 --> 0:06:11.640 need you to apply, especially dream team, because once you 0:06:11.760 --> 0:06:13.920 know that if you lose three trades in a row, 0:06:13.960 --> 0:06:18.240 you won't be that shack in. If you know that, 0:06:18.279 --> 0:06:20.080 you but if you don't know your wrist to reward, 0:06:20.400 --> 0:06:22.640 you'll be in a lot of danger. Later. I want 0:06:22.640 --> 0:06:24.800 to point out to moderna is a five hundred and 0:06:24.880 --> 0:06:26.720 thirty five percent since the launch the stock Club. We 0:06:26.760 --> 0:06:29.039 gave it to you guys here for free for the culture. 0:06:29.360 --> 0:06:31.840 So for all this, they're not for the culture. And 0:06:31.880 --> 0:06:34.920 I'm tired of you guys fill well lined beards. Not No, 0:06:35.000 --> 0:06:37.279 we gain it for free. If you have not got 0:06:37.320 --> 0:06:39.560 into it, give me a couple weeks. I'll give you 0:06:39.560 --> 0:06:42.680 guys another praise to get into it. Number nine, This 0:06:42.760 --> 0:06:46.480 is key. In order to obtain freedom, you must endure 0:06:46.640 --> 0:06:50.560 moments of bondage even when you're free. I won't get 0:06:50.560 --> 0:06:53.280 into any one's personal business, but I'll be honest, we've 0:06:53.279 --> 0:06:55.400 all had tough days when we still showed up here 0:06:55.640 --> 0:06:59.960 when we probably shouldn't have. Freedom is not disillusion that 0:07:00.120 --> 0:07:02.440 you just get to sail on the beach and live 0:07:02.480 --> 0:07:05.039 the ig lifestyle. A lot of you who are saying 0:07:05.040 --> 0:07:07.880 that you want to be free. In order to get free, 0:07:07.960 --> 0:07:10.240 you have to be in bonds in terms of your 0:07:10.280 --> 0:07:14.360 work schedule and building systems to get free. And once 0:07:14.400 --> 0:07:17.720 you get free, guess what, there's more bonds that surround you. 0:07:18.640 --> 0:07:21.480 That's what people want tell you. There's been plenty of 0:07:21.520 --> 0:07:23.400 days when things are going on behind the scenes that 0:07:23.480 --> 0:07:25.440 all of us probably should have walked away and taken 0:07:25.480 --> 0:07:27.520 a day off. But we're still and we're not doing 0:07:27.560 --> 0:07:30.680 a four pity party. But even when you become free, 0:07:31.920 --> 0:07:35.400 the consistency and work ethic that you have, you're still 0:07:35.440 --> 0:07:37.600 going to be bonded to if you want to continue 0:07:37.600 --> 0:07:40.880 to remain free. I want to point this out, hot take. 0:07:40.960 --> 0:07:43.480 Shopify is the eBay of this era, and Stripe is 0:07:43.520 --> 0:07:47.240 a new PayPal. I'm going to sit in. Shopify is 0:07:47.280 --> 0:07:49.880 to this era what eBay was in the ninety late 0:07:49.960 --> 0:07:52.360 nineties early two thousands, and Stripe is a new PayPal. 0:07:52.720 --> 0:07:54.520 So when Stripe IPOs, I know you guys are going 0:07:54.560 --> 0:07:56.920 to ask, wait sixty days, but I think there will 0:07:56.960 --> 0:07:59.200 be a dominant force in this space for a long time. 0:07:59.600 --> 0:08:01.360 Number two, and this is so key for every trader. 0:08:02.000 --> 0:08:06.800 Print out your trading charts analog. A great lesson that 0:08:06.840 --> 0:08:11.000 I learned out of this book called Inside Apple Jim 0:08:11.120 --> 0:08:15.440 to Buy. Steve Jobs planned everything in analog first, which 0:08:15.440 --> 0:08:17.880 means he white boarded it out or wrote it out first, 0:08:17.920 --> 0:08:22.720 and then planned in digital traders. When I know, I 0:08:22.800 --> 0:08:25.840 know when I ask you, hey, eighteen weeks ago on 0:08:25.880 --> 0:08:28.679 a Tuesday, how did your trades go? I know ninety 0:08:28.760 --> 0:08:31.120 nine percent of people are not able to answer that question. 0:08:31.760 --> 0:08:34.440 If you print out your trading charts every single day, 0:08:35.000 --> 0:08:37.160 not only will you be able to see patterns a 0:08:37.200 --> 0:08:39.920 lot clearer, you would be able to see the mistakes 0:08:39.920 --> 0:08:42.800 that you made. And also you were probably entering higher 0:08:42.800 --> 0:08:45.320 into the market if you were looking to buy, or 0:08:45.600 --> 0:08:49.280 you were shorting too much lower than you initially expected. 0:08:49.800 --> 0:08:53.000 Please print out your charts every single trading session, whether 0:08:53.000 --> 0:08:55.959 he took a live trade or not. And here's a 0:08:56.000 --> 0:08:59.200 great point that he pointed out when we're on a call. 0:08:59.760 --> 0:09:03.079 He mentioned he lost out on sixty six thousand dollars 0:09:03.120 --> 0:09:06.320 in additional games by being a patient. Put this in 0:09:06.400 --> 0:09:10.520 chat and patience costs us profit. Either you jump into 0:09:10.559 --> 0:09:13.800 a trade too late, too early, or you get into 0:09:13.800 --> 0:09:16.600 a move. I feel everybody who bought Doze at sixty 0:09:18.400 --> 0:09:20.080 gave you the levels and which to tell you, Hey, 0:09:20.080 --> 0:09:22.880 this is resistance, this is support. You have to wait. 0:09:23.040 --> 0:09:25.040 And this is why I always tell you guys, blocking 0:09:25.040 --> 0:09:28.360 out the noise is so key. It's so key because 0:09:28.440 --> 0:09:30.520 often a lot of the people that are telling you 0:09:30.559 --> 0:09:33.040 to get into a move or man in drouvish, I 0:09:33.080 --> 0:09:34.520 don't know what they talking about. They just don't want 0:09:34.520 --> 0:09:37.080 nobody to get them erners, what's up. 0:09:37.160 --> 0:09:39.640 You ever walk into a small business and everything just 0:09:39.800 --> 0:09:42.960 works like the checkout is fast, the receipts are digital, 0:09:43.520 --> 0:09:46.480 tipping is a breeze, and you're out the door before 0:09:46.480 --> 0:09:50.640 the line even builds. Odds are they're using Square. We 0:09:50.800 --> 0:09:53.360 love supporting businesses that run on Square because it just 0:09:53.400 --> 0:09:56.640 feels seamless. Whether it's a local coffee shop, a vendor 0:09:56.640 --> 0:09:58.920 at a pop up market, or even one of our 0:09:59.000 --> 0:10:02.640 merch partners, Square makes it easy for them to take payments, 0:10:02.840 --> 0:10:06.600 manage inventory, and run their business with confidence, all from 0:10:06.679 --> 0:10:10.079 one simple system. If you're a business owner or even 0:10:10.160 --> 0:10:13.640 just thinking about launching something soon, Square is hands down 0:10:13.720 --> 0:10:16.760 one of the best tools out there to help you start, run, 0:10:17.000 --> 0:10:20.319 and grow. It's not just about payments, it's about giving 0:10:20.320 --> 0:10:23.000 you time back so you can focus on what matters 0:10:23.040 --> 0:10:26.280 most Ready to see how Square can transform your business, 0:10:26.559 --> 0:10:31.200 visit Square dot com backslash go backslash eyl to learn 0:10:31.240 --> 0:10:36.440 more that Square dot com backslash, go backslash eyl. Don't wait, 0:10:36.720 --> 0:10:39.560 don't hesitate, let's Square handle the back end so you 0:10:39.600 --> 0:10:45.880 can keep pushing your vision forward. This episode is brought 0:10:45.920 --> 0:10:47.840 to you by P and C Bank. A lot of 0:10:47.840 --> 0:10:51.439 people think podcasts about work are boring, and sure they 0:10:51.520 --> 0:10:55.400 definitely can be, but understanding a professional's routine shows us 0:10:55.400 --> 0:10:59.040 how they achieve their success little by little, day after day. 0:11:00.080 --> 0:11:02.520 It's like banking with P and C Bank. It might 0:11:02.640 --> 0:11:05.520 seem boring the safe plan and make calculated decisions with 0:11:05.600 --> 0:11:08.600 your bank, but keeping your money boring is what helps 0:11:08.600 --> 0:11:11.679 you live or more happily fulfilled life. P and C 0:11:11.840 --> 0:11:17.000 Bank Brilliantly Boring since eighteen sixty five. Brilliantly Boring since 0:11:17.040 --> 0:11:19.600 eighteen sixty five is a service mark of the PNC 0:11:19.800 --> 0:11:23.760 Financial Service Group, Inc. P and C Bank National Association 0:11:23.960 --> 0:11:24.960 Member FDIC. 0:11:27.120 --> 0:11:31.040 You just realized your business needed to hire someone yesterday. 0:11:31.520 --> 0:11:35.760 How can you find amazing candidates fast? Easy? Just use 0:11:35.840 --> 0:11:39.080 Indeed stop struggling to get your job posts seen on 0:11:39.200 --> 0:11:43.120 other job sites. With Indeed sponsored jobs, your post jumps 0:11:43.120 --> 0:11:45.440 to the top of the page for your relevant candidates, 0:11:45.679 --> 0:11:48.760 so you can reach the people you want faster. According 0:11:48.760 --> 0:11:52.400 to Indeed data, sponsored jobs posted directly on Indeed have 0:11:52.520 --> 0:11:56.560 forty five percent more applications than non sponsored jobs. Don't 0:11:56.600 --> 0:11:59.840 wait any longer, speed up your hiring right now. Within 0:12:00.679 --> 0:12:02.920 and listeners of this show will get us seventy five 0:12:03.000 --> 0:12:06.199 dollars sponsored job credit to get your jobs more visibility 0:12:06.320 --> 0:12:12.040 at indeed dot com. Slash pod Katz thirteen. Just go 0:12:12.080 --> 0:12:16.880 to indeed dot com slash pod Katz thirteen right now 0:12:17.200 --> 0:12:19.800 and support our show by saying you heard about Indeed 0:12:19.800 --> 0:12:24.120 on this podcast. Terms and conditions apply. Hiring Indeed is 0:12:24.200 --> 0:12:25.560 all you need back. 0:12:25.800 --> 0:12:28.320 Guess what they're using you for their own liquidity to 0:12:28.320 --> 0:12:29.920 get out of the trip. Yeah, I'm a bidoge just 0:12:30.000 --> 0:12:32.800 sixty five, but they don't know nothing. I love har 0:12:32.840 --> 0:12:34.640 market moneies, but I hate them today. Now I'm gonna 0:12:34.640 --> 0:12:36.640 get it at at the top and then it falls apart. 0:12:36.679 --> 0:12:38.400 Guess what those people are trying to get out of 0:12:38.440 --> 0:12:41.520 those positions. Please be careful and I'll say this, you 0:12:41.559 --> 0:12:45.240 need diamond hands for good assets, man. People have diamond 0:12:45.240 --> 0:12:48.280 hands for some of the shittiest assets out there. And 0:12:48.320 --> 0:12:49.840 the thing that I was stressing, so I was on 0:12:49.880 --> 0:12:51.719 a trip and I'm like, I need you guys to 0:12:51.840 --> 0:12:56.800 hold your trades longer. Here's the secret with long term 0:12:56.840 --> 0:13:00.000 investment that applies to short term. The longer you hold 0:13:00.000 --> 0:13:02.400 with your intra day trades, the more money you can make. 0:13:03.200 --> 0:13:06.360 Some of you are holding trades for too short of 0:13:06.400 --> 0:13:08.600 a period. And even if you're trading, and I said, 0:13:08.640 --> 0:13:11.319 we'll talk about naked and AMC tonight. But some of 0:13:11.360 --> 0:13:12.800 you are getting into the move and be like, damn, 0:13:12.800 --> 0:13:14.120 I was in the trade for three minutes. If I 0:13:14.160 --> 0:13:16.880 would have held it for hour, I would have made 0:13:16.920 --> 0:13:20.720 fifteen twenty eight thousand. You need diamond hands for good 0:13:20.760 --> 0:13:24.599 assets and good trades less than thirteen. Please let it 0:13:24.679 --> 0:13:27.440 run for all of you that are trading futures. Please 0:13:27.600 --> 0:13:30.320 let your trades run for at least thirty minutes to 0:13:30.440 --> 0:13:34.520 two hours. You have specific targets, like if you went 0:13:34.559 --> 0:13:36.400 into a job and let's say let's say you want 0:13:36.400 --> 0:13:40.160 to go work for Eyo or Red Panda, and we 0:13:40.160 --> 0:13:42.600 were like, hey man, we're gonna pay you two hundred 0:13:42.600 --> 0:13:44.440 and twenty five thousand dollars a year for this job. 0:13:44.720 --> 0:13:46.839 When you're not letting your trade run, that's like saying, 0:13:46.880 --> 0:13:48.720 oh man, just pay me twenty eight thousand. I don't 0:13:48.760 --> 0:13:50.760 need to twenty five. None of you would do that 0:13:50.840 --> 0:13:53.800 in the job interview, But in your trades you'll have 0:13:53.840 --> 0:13:56.120 a breakout move and be like, ah, let me just 0:13:56.160 --> 0:13:59.240 take profit here when you can have a tremendous move, 0:13:59.320 --> 0:14:02.480 or remember, only twelve great trades on the year can 0:14:02.520 --> 0:14:07.360 make a difference for you, your family future, generations that 0:14:07.440 --> 0:14:11.880 are coming after. And this ties in you don't want 0:14:11.920 --> 0:14:14.079 to walk away from your trades because you don't want 0:14:14.080 --> 0:14:16.520 to make real money. And I get it. I used 0:14:16.559 --> 0:14:20.400 to self sabotage like crazy, I know, whether in trading 0:14:20.520 --> 0:14:23.880 or in business. Another good book is called Secrets of 0:14:23.920 --> 0:14:26.640 the Millionaire Mind by T. Harve Ecker. He always says, 0:14:26.680 --> 0:14:30.680 whatever starts inside of your mind eventually forms yourself into 0:14:30.720 --> 0:14:33.520 reality in your outside world. That's very true. I would 0:14:33.520 --> 0:14:35.520 even have meetings i'plin and I hope they don't call. 0:14:35.840 --> 0:14:38.400 I hope this meeting doesn't go through because I was afraid. 0:14:38.920 --> 0:14:42.040 But once you get over that fear, I'm telling you, 0:14:42.480 --> 0:14:45.640 life becomes a lot better when you don't sabotage. And 0:14:45.720 --> 0:14:47.560 for those of you that are not walking away from 0:14:47.600 --> 0:14:50.760 your trades, it is an active form of self sabotage. 0:14:50.880 --> 0:14:52.960 Because we've all seen people that are not that good 0:14:53.000 --> 0:14:54.800 of a trader, but they hit a hell of a 0:14:54.840 --> 0:14:56.520 home run and then you're like, how the hell did 0:14:56.520 --> 0:14:59.000 they make that trade? They let the trades sit a 0:14:59.080 --> 0:15:03.160 little bit longer then we normally would. Let's number fifteen. 0:15:03.600 --> 0:15:05.840 I'm going to say it again, please, if you learn 0:15:05.920 --> 0:15:07.800 nothing else from me on the trading side. Know this, 0:15:08.520 --> 0:15:13.160 risk to reward is more important than indicators. It doesn't 0:15:13.240 --> 0:15:16.160 damn near matter what indicator you use. If you use 0:15:16.240 --> 0:15:19.560 an indicator that is flawless. And I've known people that 0:15:19.600 --> 0:15:22.200 have won ninety nine percent of their trades and ended 0:15:22.320 --> 0:15:25.440 up negative. I know people that traded thirty percent and 0:15:25.480 --> 0:15:28.160 they make between twenty and sixty thousand dollars a month. 0:15:28.880 --> 0:15:31.320 It's all about risk to reward. If I'm risking one 0:15:31.360 --> 0:15:33.880 dollar to make twenty five or one dollar to make 0:15:33.920 --> 0:15:36.720 ten and you're risking one to make one dollar and 0:15:36.760 --> 0:15:39.920 ten cent, who's going to win the battle? That's the 0:15:39.960 --> 0:15:43.840 name of the game. Risk reward it is more important 0:15:43.840 --> 0:15:46.720 than indicators. I mean ask you this for all my traders. 0:15:47.200 --> 0:15:49.680 Do you have your trading plan in front of you 0:15:49.800 --> 0:15:53.800 every day? Why trading? And do you never deviate from it? 0:15:54.360 --> 0:15:56.960 I know everybody say, what the trading plane is great? 0:15:57.280 --> 0:16:00.040 Three wednesdays from now, how many points will you go for? 0:16:00.240 --> 0:16:02.680 Or is it off day? Is it a research day, 0:16:03.200 --> 0:16:05.320 is it a film day? Another gym? You need to 0:16:05.360 --> 0:16:09.120 record every live trading session, whether you trade or not, 0:16:09.760 --> 0:16:12.120 because then what's gonna happen is you're gonna have a 0:16:12.200 --> 0:16:15.320 breakdown or a day on which we drop a lot 0:16:15.400 --> 0:16:17.840 based off news and some report comes out and it's 0:16:17.880 --> 0:16:19.960 gonna repeat that same kind of cycle, and you're gonna 0:16:20.000 --> 0:16:22.880 be like, damn, this is the move that happened in November. 0:16:22.960 --> 0:16:25.360 For me. One of the hardest crashs that I first 0:16:25.400 --> 0:16:26.720 saw I made a lot of money on. It was 0:16:26.760 --> 0:16:29.920 August twenty fourth, twenty fifteen. I remember the weekend prior. 0:16:30.000 --> 0:16:32.560 That's a Monday. The Friday prior, I remember the market 0:16:32.600 --> 0:16:34.800 sliding down like crazy, and the Sunday I was flying 0:16:35.240 --> 0:16:37.440 to Denver. I remember being on the train seeing the 0:16:37.520 --> 0:16:40.920 nik slide and then es follow. When you see moves 0:16:40.960 --> 0:16:43.360 like that, they get embedded in your brain. That same 0:16:43.400 --> 0:16:46.080 move from August twenty fourth to twenty fifteen prepared me 0:16:46.120 --> 0:16:49.200 for the slide of March of twenty twenty. The market 0:16:49.240 --> 0:16:52.360 repeats itself, it's not the exact same. Shout out to 0:16:52.400 --> 0:16:54.440 my trades. If you've ever seen a breakdown move and 0:16:54.480 --> 0:16:57.080 then you've seen to repeat itself a year or two later. 0:16:57.880 --> 0:16:59.600 You have to have your trading plan in front of 0:16:59.640 --> 0:17:02.560 you every every single day, and do not deviate from 0:17:02.600 --> 0:17:06.200 it less than seventeen shot. Selection is everything, and I 0:17:06.240 --> 0:17:09.719 will say this on a call. Arguably, with the exception 0:17:09.840 --> 0:17:14.400 of Range, Westbrook and Dame Lillard have the same heart. 0:17:14.880 --> 0:17:17.440 They're built from the same kind of player. They're both 0:17:17.520 --> 0:17:22.600 Iverson esque. What's the difference between the two shot selection? 0:17:23.480 --> 0:17:26.040 I love Russ with all my heart. Russ does not 0:17:26.160 --> 0:17:30.440 have as good as shot selection as Dame. Same thing 0:17:30.480 --> 0:17:32.720 and trading. Some of you can trade your asses off, 0:17:32.760 --> 0:17:35.919 but guess what, you take too many trades, seven trades 0:17:35.960 --> 0:17:38.640 in the day, or the emotions kick in and you're 0:17:38.680 --> 0:17:42.440 trading too much size and the middle of the day, 0:17:42.520 --> 0:17:45.600 stay away from that zombie dead zone hour like after 0:17:45.720 --> 0:17:50.000 eleven o'clock to one, there's nothing to do. If you're 0:17:50.040 --> 0:17:52.920 trading the S and P five hundred down product nasdak product. 0:17:53.119 --> 0:17:56.160 You need to look at the first hour and be done, 0:17:56.280 --> 0:17:58.359 and then look at the clothes you're trading at twelve 0:17:58.359 --> 0:18:01.320 o'clock twelve thirty, you're going to get chopped up. Please 0:18:01.359 --> 0:18:04.440 type this shot selection is everything. And if I'm looking 0:18:04.440 --> 0:18:07.600 from a competitive landscape, a lot of you can trade 0:18:07.680 --> 0:18:09.240 very well, but I know you won't wait for the 0:18:09.280 --> 0:18:12.000 right shot. All of us did have played ball. We 0:18:12.119 --> 0:18:14.280 know the one guy. If we swing the ball and 0:18:14.359 --> 0:18:16.639 we skip it to the corner. He's going to shoot 0:18:16.640 --> 0:18:18.520 that ball. If nine people on him, he doesn't care 0:18:18.520 --> 0:18:20.400 because he just want to get a shot off. Look 0:18:20.440 --> 0:18:22.199 at the Mayweather fight last night. It was not the 0:18:22.200 --> 0:18:25.679 most entertaining the first round. Look how selective he was 0:18:26.960 --> 0:18:31.200 and attacking Paul, and even though Paul doesn't have enough 0:18:31.200 --> 0:18:33.080 punch and power to knock him out per se, he 0:18:33.240 --> 0:18:37.240 still respected what could happen? Please know shot selection is 0:18:37.280 --> 0:18:40.720 everything less than eighteen. Please write this down. You cannot 0:18:40.720 --> 0:18:43.800 overtrade your way to freedom. And this is from a 0:18:43.800 --> 0:18:46.320 person me who used to take fourteen to twenty trades 0:18:46.359 --> 0:18:50.480 in the day in sixteen twenty seventeen. And the days 0:18:50.520 --> 0:18:53.680 in which they were great, old baby, you couldn't tell 0:18:53.720 --> 0:18:56.760 me nothing. And the days that I lost all, I 0:18:56.880 --> 0:19:00.320 was so upset. You could not tell me nothing. You 0:19:00.359 --> 0:19:03.560 cannot overtrade your way to freedom. That is another mechanism 0:19:03.680 --> 0:19:07.520 or another action and self sabotage. And I'll tell you 0:19:07.560 --> 0:19:12.120 this options crash, cryptos crash, nft S crash. We've given 0:19:12.160 --> 0:19:17.200 you the blueprint two tech to index and trade futures. 0:19:17.200 --> 0:19:20.479 That is the blueprint Episode seventy Classic Shauto wind triple 0:19:20.720 --> 0:19:22.960 If you have not heard it. I give the entire 0:19:22.960 --> 0:19:26.960 blueprint there. Please master your craft. And I want to 0:19:27.000 --> 0:19:29.840 say this from a perspective for business owners. Like when 0:19:29.840 --> 0:19:32.880 I approached Troy Rashad like Yo, episode seventy was dope, 0:19:32.920 --> 0:19:35.840 we should do a show. My entire strategy was to 0:19:35.880 --> 0:19:38.520 give everything away to show people, Hey, I wanted the 0:19:38.600 --> 0:19:41.440 best to do this for those of you that are 0:19:41.480 --> 0:19:43.680 looking to build your brand, because I see a lot 0:19:43.680 --> 0:19:46.320 of you want to get into the space. The only 0:19:46.400 --> 0:19:49.120 thing that separates you from everyone else is your ability 0:19:49.160 --> 0:19:52.639 to help others win. So you want to build a base. 0:19:53.320 --> 0:19:55.640 You always can team up, but give your picks away 0:19:55.680 --> 0:19:58.879 and if you get results, people will follow you. And 0:19:58.920 --> 0:20:01.520 I want to say this. I want to say this 0:20:02.000 --> 0:20:05.400 and leave it up on the screen. I'm gonna say 0:20:05.560 --> 0:20:07.639 for those of us that are here given value, if 0:20:07.680 --> 0:20:10.640 we have made you money on this show, please put 0:20:10.720 --> 0:20:13.960 yes in chat because I'll argue that we have probably 0:20:14.000 --> 0:20:18.280 the best investing show on the planet and we need 0:20:18.280 --> 0:20:21.320 some more likes to to match these views, and we're 0:20:21.359 --> 0:20:23.760 outperforming everybody by a mile, but we may not get 0:20:23.760 --> 0:20:26.919 the same credit. And if we've been a superhero to you, 0:20:26.960 --> 0:20:29.560 just put yes in chat. In Superhero and I love 0:20:29.640 --> 0:20:31.360 y'all so much. I think I know why we won't 0:20:31.359 --> 0:20:34.680 always get the credit, but we are the culture. I'm 0:20:34.720 --> 0:20:36.719