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Speaker 3: Yeah.
Speaker 4: Man, so obviously you know, like we said, do your
Speaker 4: own research. And so I was in the lab this
Speaker 4: morning and right before I actually called Ian and he
Speaker 4: ain't pick up. But I'm like, ooh, I'm looking at
Speaker 4: my charts, going over my calls because I'm reevaluating my
Speaker 4: portfolio and low and behold, I see January nineteenth, twenty
Speaker 4: twenty four. I was actually looking at SMH, looking at
Speaker 4: for the future of SMH, and so I'm like, oh,
Speaker 4: SMH is January twenty twenty four. Let me check the
Speaker 4: that's to my table. Oh ac'ts okay, January twenty twenty four.
Speaker 4: Oh wait wait, let me check Apple. And so long
Speaker 4: story short, option chains have extended to obviously January nineteen,
Speaker 4: twenty twenty four. And so right now, I was in
Speaker 4: the lab all day, redesigning the portfolio to say, all right,
Speaker 4: we can go with a longer term play here, we
Speaker 4: can go with a longer term situation here, and I
Speaker 4: put the back call out. I put it in the
Speaker 4: group chat. It was like the first person to respond
Speaker 4: Wall Street trapper. He said, yes, brother, But he also
Speaker 4: said that something very important, and we mentioned it at
Speaker 4: the beginning of September, that quadruple witching happens in September.
Speaker 4: And so for everybody that is interested in getting option
Speaker 4: calls at this point, I would definitely and this is
Speaker 4: just recommended.
Speaker 3: You don't have to do it, but I would wait
Speaker 3: after witching.
Speaker 5: Tell them about the chain. What is the option chain?
Speaker 5: Anybody that might be watching Monday that doesn't know about
Speaker 5: options too much, what is the option So.
Speaker 4: The option chain is really the expiration day, right, and
Speaker 4: so each each stock has an expiration date and like,
Speaker 4: so this week, what's what's Friday September. I think I
Speaker 4: have an option that's expiring September eighteenth, September seventeenth, seventeenth,
Speaker 4: there will be contracts and the option even in the
Speaker 4: futures market, that will be expiring. And so when you
Speaker 4: see contracts aspiring, usually that means obviously when some expired,
Speaker 4: there will be new ones created. And so usually around
Speaker 4: which and you'll see new ones created or options extended.
Speaker 4: And so when I say new ones created, I want
Speaker 4: to be very clear, twenty twenty four is an extension, right,
Speaker 4: that's a new year. When I say new ones created,
Speaker 4: I mean so like if we're in September twenty twenty one,
Speaker 4: you may see new ones created like February twenty two,
Speaker 4: or you might see March twenty two. So they've extended,
Speaker 4: but not a new year. And so this week and
Speaker 4: I think some of them, I believe September third, we
Speaker 4: started seeing some of them, some of them open today,
Speaker 4: and so that's good. And there's a few reasons why
Speaker 4: I think it's a good thing. It's because when the
Speaker 4: option call opens, you can see its initial price. You
Speaker 4: can see where it was valued at. Two things whyle
Speaker 4: that matters, right, two reasons. You can see if you're
Speaker 4: gonna buy it undervalue. Right, So if that option price
Speaker 4: opened at twenty five or two dollars and you buy
Speaker 4: it at seventy nine cents, you can see that there's
Speaker 4: been a drop in this option call.
Speaker 3: This might be a good place to get in, right.
Speaker 4: If you're looking at the asking a bid, or if
Speaker 4: you're getting it it opened at two dollars and now
Speaker 4: it's at five to seventy, Right, Obviously this has run
Speaker 4: up a little bit. This might not be the best
Speaker 4: place for you to get in. And so these are
Speaker 4: some of the things that I'm looking at when I'm
Speaker 4: looking at option calls. And then like in two days,
Speaker 4: I'm going to get a call from a shop bellow
Speaker 4: and he's gonna tell he go, say, what's the move?
Speaker 3: What we're doing?
Speaker 4: But yeah, so with the call is out, And so
Speaker 4: if you're interested, if you trade options, twenty twenty fours
Speaker 4: are out. What's quad So it's when contracts expire. And
Speaker 4: so like I said in a few.
Speaker 6: You're funny, that's fun.
Speaker 4: So the third the third month, and the third week
Speaker 4: of the third month of each quarter usually contracts expire,
Speaker 4: and so that's happening this week, Like I said, Seceember seventeenth,
Speaker 4: September eighteenth, seven seventeen, since the eighteenth is on a Saturday,
Speaker 4: those contracts will aspire and new ones will be created.
Speaker 3: And so that.
Speaker 4: Means that people are selling out of their positions, right,
Speaker 4: they're saying, Okay, either we're taking profit and we're moving on,
Speaker 4: or we're taking profit and we're extending into later positions.
Speaker 3: And so that's happening this week.
Speaker 4: And so when I text that travels like yo, we're
Speaker 4: gonna wait to after which and so that would be
Speaker 4: next week. And that strategy has worked for us in
Speaker 4: the past. I'm saying us because we have a similar
Speaker 4: trading portfolio.
Speaker 7: So for those of you who want to overtrade once again,
Speaker 7: I want to ask how many trades have you guys
Speaker 7: done this year?
Speaker 3: Right? Us us personally? Yep, not a lot. Yeah, this
Speaker 3: year has been.
Speaker 6: Less than ten Yeah, yeah, yeah, yeah I did.
Speaker 3: Yeah, we'll talk about that in investment in our group chat.
Speaker 3: But yeah, not many. Like I said, I probably did
Speaker 3: like six five, like five five, I'm probably like ten.
Speaker 7: Your money long term other ten percent of trading you
Speaker 7: guys should do less than ten trades a year.
Speaker 6: If you was that invest us, you know the formula.
Speaker 6: Don't come on here.
Speaker 7: In eight weeks, I lost eighty eight thousand dollars fourteen trades.
Speaker 6: I'm laugh.
Speaker 3: Do you tell you to do that? We tell you
Speaker 3: to do that? Oh yes, Erness, what's up?
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Speaker 3: I know for sure.
Speaker 4: In Apple, I'll just put the ones that are in
Speaker 4: my portfolio that I'm looking at Apple, Square, Disney, XLK
Speaker 4: XL y SMH.
Speaker 3: I added.
Speaker 4: And then we were on the phone, I talked about this.
Speaker 4: I'm like, I'm like, look, I'm thinking z Scaler. I
Speaker 4: had a position there. I spoke about it last week
Speaker 4: and CrowdStrike and we kind of had a little back
Speaker 4: and forth there about that, and so yeah, man, so
Speaker 4: that's where I'm at with it, And I just want
Speaker 4: to give everybody the heads up because I know sometimes
Speaker 4: it'll be like six weeks into according.
Speaker 3: You're like, wait the twenty twenty four calls. I'm like, nah, I.
Speaker 4: Told you today September thirteenth, when a lot of them
Speaker 4: opened and I saw the opening price, I got the
Speaker 4: sheet right there, had a hold new notepad.
Speaker 3: I actually took that strategy from Chap.
Speaker 4: Every time I see him walking and you talk to
Speaker 4: him about stocks, he's writing it down in a notebook.
Speaker 4: And so I started getting the notebook myself and writing
Speaker 4: it down. So I got my opening prices for somebody.
Speaker 4: So I know when I entered these positions where I'm
Speaker 4: entering the matt if I'm entering them at value. And
Speaker 4: so yeah, something that's a little tippit that maybe you
Speaker 4: can add to your arsenal as well.
Speaker 5: Yeah, there you have it all right, So yeah, Nat,
Speaker 5: you're back. Let's talk about these top three lessons learned
Speaker 5: from one of the Red PANDAM members that made forty
Speaker 5: two thousand dollars trading futures in the last thirty days.
Speaker 7: Man, I'll go back to what we were just talking about.
Speaker 7: It's a few trades. So today Nasak dropped really hard.
Speaker 7: Put us to my guy. I won't say your name
Speaker 7: because I want blowing you up like that. But everyone
Speaker 7: thinks that the secret to making a lot of money
Speaker 7: and trading is to trade more. It's actually less. Like
Speaker 7: last month I took eighteen trades one or eighteen, and
Speaker 7: I could argue probably even last month I probably overtraded.
Speaker 7: So Number one, I'll say here, only take ten good
Speaker 7: trades on the year. Number two, have a really really
Speaker 7: big target. So if you are going to trade, capital
Speaker 7: size up after you practice your three hundred trades, and
Speaker 7: your trades should make you a sizeable amount of money.
Speaker 7: If your trades are not making you between let's say
Speaker 7: five to fifteen thousand dollars per trade, your risk reward
Speaker 7: ratio is off when your target is too short. And
Speaker 7: number three the part that me and you trapp shot
Speaker 7: a bam Mike MG. Everybody who being in chat, you
Speaker 7: have to put the time in. Please put this in chat.
Speaker 7: If you want to get rich, you have to invest
Speaker 7: in your knowledge. I'm not selling you guys anything, but
Speaker 7: the number of people that I've met when I asked, hey,
Speaker 7: have you read twenty five books this year, They're like no.
Speaker 7: I'm like, if you knew how exhausted we were on
Speaker 7: a day to day basis. You know, Rasha, I got
Speaker 7: a migraine from being out in the sun. You probably
Speaker 7: put up twenty eight thousand jumpers while giving out T shirts. Right,
Speaker 7: I'm driving to drop Xander off when he's sick. Then
Speaker 7: come back and do the like I'm telling you for
Speaker 7: the one of to you who are going to listen,
Speaker 7: your ultimate edge is knowing that everyone you're competing against
Speaker 7: it as lazy as hell. Please read fifty pages a
Speaker 7: day complete turtle Traders, market wizards, unknown market Wizards, hedge
Speaker 7: fund market wizards, and dive through those pages and then
Speaker 7: everyone's going to have the same roller coaster. If you're
Speaker 7: excited when you first start, then you lose and you're like,
Speaker 7: I should quit?
Speaker 6: What my god did?
Speaker 7: He just kept pouring in and then you know he
Speaker 7: was hitting me at two o'clock, three o'clock in the morning,
Speaker 7: four o'clock in the morning with ideas, And that's when
Speaker 7: I know he was getting into his own because the
Speaker 7: knowledge is going to equip you to be able to
Speaker 7: make the kind of capital that you want.
Speaker 6: Because this really is a game of information. That's why
Speaker 6: I put so.
Speaker 7: Much time into reading and tell you guys to pour
Speaker 7: in so much because all the secrets are hidden in
Speaker 7: the book. But once you put them together like a
Speaker 7: gumbo pot, that's what your edge is going to be.
Speaker 7: So read more, you need your trades should produce five
Speaker 7: to fifteen thousand minimum per trade. No fot, you're not
Speaker 7: going to hit five hundred dollars a day. You're not
Speaker 7: going to do it. No business is that Like Apple
Speaker 7: does not clear a certain amount of dollars per day
Speaker 7: every day.
Speaker 6: They have peaks and valleys, right.
Speaker 7: And then also to the blast bonus tip I'll get
Speaker 7: is like you need to say the affirmation of how
Speaker 7: much money you want to make. Everything that we've all
Speaker 7: done on the show, we set it out verbally either
Speaker 7: to ourselves or each other out.
Speaker 6: On the show, and then push to make it happen.
Speaker 7: I see a lot of people talking about trading and
Speaker 7: say they want to be free, and I'm like, what
Speaker 7: kind of targets do you want to make it?
Speaker 6: They're like, man if I get two hundred dollars a day,
Speaker 6: I'll be cool. I'm like, no, you won't. No, you won't.
Speaker 6: So set a big target.
Speaker 7: Don't tell your family, don't tell your friends, keeping a
Speaker 7: side of you and tell yourself that you're capable and
Speaker 7: you're worthy of it, and you can make it happen.
Speaker 6: So I hope to help you guys, but please read more.
Speaker 6: I'm begging you.
Speaker 5: My graduates from my school being forced back.
Speaker 3: Drop drop, drop drop.
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