WEBVTT - EYL #119 Get Started in Forex, Bitcoin, & Cryptocurrency 0:00:00.080 --> 0:00:02.440 Earners is twenty twenty one a year of execution. In 0:00:02.520 --> 0:00:04.640 order to execute, we have to have information, and the 0:00:04.720 --> 0:00:07.840 number one place that get the information eyl University Shotty 0:00:07.840 --> 0:00:08.640 tell them what we bring in. 0:00:08.760 --> 0:00:11.400 Yes, EYL University has been reloaded. We already have one 0:00:11.440 --> 0:00:14.400 hundred pass webinars. We already have weekly webinars. We already 0:00:14.440 --> 0:00:17.000 have our private Investment group on Facebook. We already have 0:00:17.079 --> 0:00:19.640 monthly financial planning calls, we already have bi weekly real 0:00:19.760 --> 0:00:22.720 estate called. 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Go to EYL University dot com right 0:00:58.560 --> 0:00:59.959 now and sign up. 0:01:00.120 --> 0:01:01.760 See you on the other side. 0:01:03.000 --> 0:01:08.240 My graduates from my school being forts back drop b drop, 0:01:08.840 --> 0:01:11.320 Mike drop back drop drop. 0:01:21.680 --> 0:01:25.000 All right, guys, welcome back e y L at L edition. 0:01:25.160 --> 0:01:28.880 Another one, another one, another other one. So for over 0:01:28.959 --> 0:01:31.120 eighteen months, this is one of been been one of 0:01:31.160 --> 0:01:34.679 the premiere topics that have we been been requested for. 0:01:34.720 --> 0:01:36.560 And we actually gonna give you a double dose of 0:01:36.640 --> 0:01:40.000 two of the top topics that one we've covered briefly 0:01:40.319 --> 0:01:41.959 and one we have not covered yet at all. 0:01:42.080 --> 0:01:46.440 Sure, four X, that's the elephant in the room. 0:01:46.440 --> 0:01:47.279 I hope you're not listening. 0:01:47.400 --> 0:01:50.120 That's a elephant in the room by four X. Man, 0:01:50.240 --> 0:01:53.480 it expands us. 0:01:52.640 --> 0:01:56.240 It's a very controversial situation. Man, either you love it 0:01:56.320 --> 0:01:58.960 or you hate it, but us during Alesia, we just 0:01:59.000 --> 0:02:03.360 had to provide information and four X, no matter how 0:02:03.360 --> 0:02:06.280 you feel about it, you can't deny that it is 0:02:06.320 --> 0:02:11.080 the biggest market in the world, Bigger than the credit market. 0:02:11.120 --> 0:02:13.600 Credit market is number two, four X is foreign exchange 0:02:13.600 --> 0:02:18.880 currency is number one. So it's a huge, huge, huge marketplace. 0:02:19.480 --> 0:02:22.120 A lot of people, uh day trade for X, invest 0:02:22.200 --> 0:02:25.200 in four X, make money in for X. So it's 0:02:25.240 --> 0:02:28.680 a viable investment option as well, and it's something that's 0:02:28.680 --> 0:02:30.160 been around for a long period of time and it's 0:02:30.200 --> 0:02:32.520 not going anywhere because currencies aren't going anywhere. But if 0:02:32.560 --> 0:02:38.240 it does change and currencies change, it'll go more digital 0:02:38.520 --> 0:02:42.000 in the world of crypto currency, which we'll talk about 0:02:42.000 --> 0:02:44.000 today also, So we're gonna give you a double dose, 0:02:44.080 --> 0:02:46.480 so four X and crypto. So this is going to 0:02:46.520 --> 0:02:49.160 be an epic episode. We got the right guy, we do. 0:02:49.280 --> 0:02:53.960 We the right So Justin Owens has established himself as 0:02:53.960 --> 0:02:58.840 an expert in both fields, and we actually met him 0:02:59.200 --> 0:03:02.040 through who's the first person, I think, Alex Alex Alex 0:03:02.080 --> 0:03:06.520 shout to Alex. Good energy, that's a fact got so 0:03:06.600 --> 0:03:08.360 you know, out in the Atlanta they got the whole 0:03:08.400 --> 0:03:12.360 circle of CEOs. Shout out to the whole crew, and 0:03:13.120 --> 0:03:15.120 Justin is definitely a part of the circle CEO. So 0:03:15.160 --> 0:03:17.720 we met him and just established the relationship with him, 0:03:17.720 --> 0:03:21.519 and you know, super super cool dude, extremely knowledgeable, and 0:03:21.600 --> 0:03:23.920 when I was talking to him, I realized that, you know, 0:03:24.000 --> 0:03:26.919 all investing is pretty much very similar. So he's explaining 0:03:26.960 --> 0:03:29.120 to me how he's doing technical analysis with four X 0:03:29.160 --> 0:03:31.400 and it's the same thing that we know with stocks, 0:03:31.840 --> 0:03:35.240 the same indicators, all of that stuff, and even on crypto, 0:03:35.440 --> 0:03:37.400 a lot of it is and we know crypto, but 0:03:37.520 --> 0:03:41.400 it's synonymous with you know, investing in stocks next to 0:03:41.400 --> 0:03:45.080 that nature. So he was the perfect person to have 0:03:45.160 --> 0:03:49.120 this conversation. So I'm excited about it. So first and foremost, 0:03:49.120 --> 0:03:49.760 thank you for joining us. 0:03:49.760 --> 0:03:51.400 Appreciate it, and I appreciate you all for having me 0:03:52.000 --> 0:03:52.920 about it. You know what I'm saying. 0:03:53.080 --> 0:03:55.240 Yeah, we hit him up, like, yo, man, you want 0:03:55.240 --> 0:03:59.640 to come on the show, I'd be honor. I was like, 0:03:59.720 --> 0:04:02.120 let's do it. Just let's do it. 0:04:02.240 --> 0:04:02.360 Man. 0:04:02.400 --> 0:04:04.760 I love what y'all been doing for the community, the culture, 0:04:04.920 --> 0:04:08.160 you know, and leveraging your platform to give people access 0:04:08.200 --> 0:04:10.640 to people they can normally touch, like you know, the 0:04:10.680 --> 0:04:12.600 Mark Cuban joint that you just had, Like everybody can't 0:04:12.640 --> 0:04:14.920 sit down and have a conversation, but y'all didn't keep 0:04:14.960 --> 0:04:16.800 it to yourself. You shared it with the world, and 0:04:16.839 --> 0:04:18.800 I think that's why you all continue to get blessed 0:04:18.800 --> 0:04:21.240 because not only you're doing something for you know, obviously 0:04:21.279 --> 0:04:22.880 it's something for your families and for yourself, but now 0:04:22.920 --> 0:04:25.040 you're impacting so many more people. So you know, they 0:04:25.040 --> 0:04:27.640 say impact before income. You guys are making a big 0:04:27.720 --> 0:04:29.240 den So I appreciate you guys. 0:04:29.360 --> 0:04:32.440 Thank you, brother, appreciate it. So let's jump right into it. 0:04:32.440 --> 0:04:35.719 It's four X. What is for X For people that 0:04:35.839 --> 0:04:38.360 might not be familiar, they only see the spam comments 0:04:38.400 --> 0:04:38.960 on Instagram. 0:04:39.440 --> 0:04:41.159 Yeah, believe it or not. You know, most people have 0:04:41.720 --> 0:04:43.720 participated in it. You know, foreign exchange. 0:04:44.080 --> 0:04:46.400 The foreign exchange market is the largest financial market in 0:04:46.400 --> 0:04:48.800 the world. But if you're ever going to a different country, 0:04:48.880 --> 0:04:51.960 you know, Europe, Australia, Mexico, you typically have to trade 0:04:51.960 --> 0:04:55.040 your country's currency for that country's currency. That's foreign exchange. 0:04:55.200 --> 0:04:57.360 What we show people how to do is instead of 0:04:57.360 --> 0:04:59.360 you having to go to these different countries and physically 0:04:59.480 --> 0:05:02.880 hold the currency as long as you got to sell phone, laptop, computer, 0:05:03.040 --> 0:05:05.120 whatever the case may be, you can actually trade for 0:05:05.200 --> 0:05:07.800 in exchange literally as long as you got internet. So 0:05:07.960 --> 0:05:09.920 what we show people how to do is make those 0:05:10.000 --> 0:05:12.760 similar type of trades like going to Canada and all 0:05:12.800 --> 0:05:13.479 these other places. 0:05:13.480 --> 0:05:16.839 But you know, laptop computer, you can make the same trade. 0:05:17.040 --> 0:05:19.200 What has been the cause for the frenzy over the 0:05:19.200 --> 0:05:21.920 past five years, I feel like out of nowhere. I mean, 0:05:21.960 --> 0:05:23.839 it's as existed, like you said, for a long time, 0:05:24.160 --> 0:05:26.400 over the past five to seven years. 0:05:26.440 --> 0:05:28.960 It's like the number one thing people want to talk about. 0:05:29.000 --> 0:05:30.880 So good question. It's a couple of reasons. 0:05:31.000 --> 0:05:34.239 Number one, up until a few years ago, to trade 0:05:34.240 --> 0:05:35.760 for X used to have to have a three million 0:05:35.800 --> 0:05:38.960 dollar networth, and to start your trading account used to 0:05:39.040 --> 0:05:40.560 have to have a one hundred thousand dollars to open it. 0:05:40.960 --> 0:05:43.039 So it was only a wealthy man and wealthy women's game. 0:05:43.520 --> 0:05:45.440 So a lot of people that are wealthy, they know 0:05:45.480 --> 0:05:47.160 about it. They're like, Okay, I know what for exists? 0:05:47.640 --> 0:05:49.560 Whow we just started talking about it, right, And I 0:05:49.720 --> 0:05:52.320 just say myself, right, is that you know, you had 0:05:52.320 --> 0:05:56.120 something called retail brokers that opened up, So now the 0:05:56.200 --> 0:05:59.000 qualifications wasn't so high like you get like today, you 0:05:59.000 --> 0:06:01.760 can start a trading account with ten to fifty dollars, 0:06:02.040 --> 0:06:04.680 So now the barriers to get in the game is 0:06:04.680 --> 0:06:07.040 a totally different game. Now you can start with fifty 0:06:07.080 --> 0:06:09.320 dollars account, one hundred dollar account, and you can grow 0:06:09.400 --> 0:06:12.480 that to a few thousand, as opposed to you know, 0:06:12.600 --> 0:06:14.600 if I wanted to get into it ten years ago, 0:06:14.720 --> 0:06:16.799 fifteen years ago, I would have to have three million 0:06:16.839 --> 0:06:19.599 dollar networth, which is it easy? And then one hundred 0:06:19.640 --> 0:06:21.720 thousand I want to put in there. And then on 0:06:21.760 --> 0:06:24.000 top of that, it was really expensive to learn how 0:06:24.040 --> 0:06:26.880 to trade. So like you have people like Robert Kiyosaki. 0:06:26.960 --> 0:06:28.599 He has a course that will teach people how to trade, 0:06:28.600 --> 0:06:30.720 but it's anywhere from forty to fifty fifty. 0:06:30.480 --> 0:06:31.360 Five thousand dollars. 0:06:31.680 --> 0:06:34.159 So even if I met the qualify, even if it 0:06:34.200 --> 0:06:35.720 was ten to fifty dollars to get started, if I 0:06:35.760 --> 0:06:38.279 didn't have that large amount of money to get into it, 0:06:38.320 --> 0:06:40.520 I'm still not going to invest into it. Well, now 0:06:40.800 --> 0:06:42.919 you got you know, people on social media, you can 0:06:42.960 --> 0:06:44.679 get started for a few thousand dollars in their courses 0:06:44.720 --> 0:06:46.560 hours a couple hundred dollars that people can actually learn 0:06:46.600 --> 0:06:49.159 how to trade. So it's the barrier's entry to the 0:06:49.200 --> 0:06:53.039 investing side and then the educational side that's made it 0:06:53.080 --> 0:06:55.080 more of a frenzy. And then you know, you're adding 0:06:55.120 --> 0:06:57.000 a piece where people can get paid to referred. I 0:06:57.040 --> 0:07:00.880 think you kind of you read off of this, you know, 0:07:01.000 --> 0:07:03.520 So it's uh, it's been it's been a unique combination, 0:07:03.600 --> 0:07:05.880 but it's been special because in the midst of it, 0:07:05.920 --> 0:07:08.400 I would say you know, being a part of it. 0:07:08.440 --> 0:07:09.880 There are people that I would say market it the 0:07:09.880 --> 0:07:11.840 wrong way. They market it like, hey, you come over here, 0:07:11.920 --> 0:07:13.320 you get rich, you learn how to trade, And that's 0:07:13.320 --> 0:07:15.280 not true. You do have to put in time to 0:07:15.360 --> 0:07:17.640 learn how to trade and invest. But man, if you 0:07:17.680 --> 0:07:19.360 take the time to really learn it and not trying 0:07:19.400 --> 0:07:21.120 to get rich, tomorrow is very profitable. 0:07:21.400 --> 0:07:23.400 So all right, so let's let's step into it. So, 0:07:23.880 --> 0:07:26.280 all right, four x trading. You explained to me that 0:07:26.600 --> 0:07:29.280 you have to trade four x in pairs. Can you 0:07:29.280 --> 0:07:30.200 talk about that? Yeah? 0:07:30.200 --> 0:07:33.080 Absolutely, So to kind of pull back, right, So the 0:07:33.120 --> 0:07:35.680 foreign exchange market, you know, we talked about us anywhere 0:07:35.680 --> 0:07:38.160 from five point three to six point six trillion dollars, 0:07:38.320 --> 0:07:40.440 all right, so by far it's not even up for debate. 0:07:40.440 --> 0:07:43.760 It's the largest financial market in the world, the like 0:07:43.800 --> 0:07:47.280 the United States. The stock exchange is like twenty two 0:07:47.320 --> 0:07:49.760 billion dollars a day, so it's really really big. So 0:07:49.840 --> 0:07:53.440 what you're doing is you have the entire worldwide economy 0:07:53.600 --> 0:07:57.040 of countries that you're really trading for or again, that's 0:07:57.040 --> 0:07:59.200 really what's happened. It's just another form of trading. Like 0:07:59.400 --> 0:08:01.920 at the beginning, we had bartering, so you had you know, 0:08:02.080 --> 0:08:04.240 if you had some wool, you had a painting. I'm 0:08:04.240 --> 0:08:05.640 trying to figure out how to get your painting. We 0:08:05.640 --> 0:08:07.960 figure out a way to exchange things. Well, now the 0:08:07.960 --> 0:08:10.320 whole world has said, okay, you know what, We're basically 0:08:10.400 --> 0:08:13.760 gonna go off of a standard note, and so everybody's 0:08:13.800 --> 0:08:15.480 agreed to it. For the most part, most countries have 0:08:15.480 --> 0:08:17.400 agreed to it. So now when you're trading in the 0:08:17.400 --> 0:08:21.200 foreign exchange market, stocks is when you're trading the evaluations 0:08:21.200 --> 0:08:25.280 of companies foreign exchange. I'm looking at countries, so I'm 0:08:25.320 --> 0:08:27.400 looking at the economy of the United States. I'm looking 0:08:27.480 --> 0:08:29.920 at like what's going on with Brexit and stuff like 0:08:29.960 --> 0:08:32.360 that. That affects the British pound, that affects the uro ow 0:08:32.360 --> 0:08:33.840 and so there's a lot of things that are happening. 0:08:33.840 --> 0:08:37.360 So when I'm trading let's say, for instance, the Australian 0:08:37.400 --> 0:08:40.880 dollar versus the euro, I mean the United States Dollar 0:08:40.960 --> 0:08:43.520 a U D USD. Well, what I'm saying is, if 0:08:43.520 --> 0:08:45.680 I go on to buy, I believe the Australian dollar 0:08:45.720 --> 0:08:48.160 is going to be stronger than the US dollar this 0:08:48.160 --> 0:08:48.640 period of time. 0:08:48.720 --> 0:08:49.839 So every time you enter a. 0:08:49.800 --> 0:08:53.240 Trade you're buying and or selling another currency at the 0:08:53.240 --> 0:08:53.680 same time. 0:08:54.200 --> 0:08:56.960 So it's like, all right, I'm gonna do the Australian 0:08:57.080 --> 0:09:02.280 dollar and the US dollar for lack of a better word, 0:09:02.559 --> 0:09:06.760 betting that the Australian dollar will outpace the US dollar 0:09:06.920 --> 0:09:10.040 today correct in that period of time, and if that 0:09:10.160 --> 0:09:13.720 happens today, I make money. If the US dollar outpaces 0:09:13.760 --> 0:09:16.000 the Australian dollar today, I lose money. 0:09:16.040 --> 0:09:16.319 Correct. 0:09:16.320 --> 0:09:17.800 But it's not even just today. It could be like 0:09:17.800 --> 0:09:19.200 you could be in a trade for a few minutes. 0:09:19.360 --> 0:09:20.640 You can be in there for a few hours. You 0:09:20.640 --> 0:09:22.840 can I mean, people hold trades for months, you know, 0:09:22.920 --> 0:09:25.600 swing traders. So it really just depends on the time 0:09:25.640 --> 0:09:27.199 period that you're going to be trading in. 0:09:27.559 --> 0:09:29.280 You know that you can actually be able to make money. 0:09:29.320 --> 0:09:30.960 But the thing is, if I say, you know, I 0:09:30.960 --> 0:09:32.719 believe the US dollars is gonna get stronger and it 0:09:32.720 --> 0:09:35.079 gets weaker, well I'm gonna lose money. But it's the 0:09:35.120 --> 0:09:37.760 same principle that we talk about with trading, Like when 0:09:37.800 --> 0:09:41.040 we're traveling, So let's say we go to Europe. When 0:09:41.040 --> 0:09:43.000 you go to the country, when we're traveling, we're not 0:09:43.000 --> 0:09:45.120 really paying attention. It's like Okay, give me a thousand 0:09:45.120 --> 0:09:47.480 dollars and give me whatever that is in this country's currency. 0:09:47.640 --> 0:09:50.439 And then when you leave the country, you either the 0:09:51.000 --> 0:09:53.240 country's currency is either gone up or going down. That's 0:09:53.240 --> 0:09:54.840 why when you go to the foreign exchange booth at 0:09:54.880 --> 0:09:57.800 the airport, y'all, notice that the value is always changing. 0:09:57.800 --> 0:10:01.160 It's not sitting. It's always changing. Currency is always moving. 0:10:01.480 --> 0:10:03.439 So when you have those movements in the market, we're 0:10:03.480 --> 0:10:05.880 able to make money on those movements, just like you 0:10:05.920 --> 0:10:08.160 would traveling, except for now don't have to travel to 0:10:08.200 --> 0:10:10.480 Europe or travel to Canada to make that profit. 0:10:10.520 --> 0:10:11.440 I can do it from my home. 0:10:11.559 --> 0:10:14.959 So in terms of time, right, because I'm thinking right 0:10:15.800 --> 0:10:19.640 Far East Asia, obviously the economy starts with four hours. 0:10:20.320 --> 0:10:22.760 How do you supplement for that, right, Because if it's 0:10:23.240 --> 0:10:26.600 daytime there, it's probably midnight here. How are we factoring 0:10:26.640 --> 0:10:27.520 that into the equation. 0:10:27.920 --> 0:10:30.960 You have different trading times, like the market is open, 0:10:31.000 --> 0:10:34.520 so you have the Tokyo session, the Australian session, you 0:10:34.559 --> 0:10:36.840 have the London session, which is one of the biggest, 0:10:36.880 --> 0:10:38.600 actually the biggest, and then you have the New York 0:10:38.600 --> 0:10:41.000 session that's the United States Seestion session. 0:10:41.440 --> 0:10:42.559 So all of these sessions. 0:10:42.679 --> 0:10:46.480 Each country is moving at different times, and so that's 0:10:46.520 --> 0:10:48.880 the cool part about trading for X. It's twenty four 0:10:48.880 --> 0:10:51.400 hours a day, five days a week, so as opposed 0:10:51.480 --> 0:10:54.040 to like my trade stocks as well. You know, if 0:10:54.080 --> 0:10:57.160 I'm not available from nine to basically four thirty five o'clock, 0:10:57.720 --> 0:11:00.080 I can't trade it as opposed to four X. If 0:11:00.120 --> 0:11:02.040 I'm a night out, well maybe I want to trade 0:11:02.080 --> 0:11:04.440 the Tokyo session, you know, maybe I want to trade 0:11:04.480 --> 0:11:06.920 the Australian session. And then you know, like the London 0:11:07.000 --> 0:11:09.800 session starts at our time about three am, So if 0:11:09.800 --> 0:11:11.839 a person wants to trade that, then they want to 0:11:11.880 --> 0:11:13.079 wake They got to wake up at three am in 0:11:13.120 --> 0:11:15.120 the East Coast time to be able to trade that. 0:11:15.160 --> 0:11:18.640 So it really depends upon what time of day that 0:11:18.679 --> 0:11:21.120 your most I tell people that you're most productive. But 0:11:21.200 --> 0:11:23.760 once you find a currency period that you really rock 0:11:23.800 --> 0:11:25.480 with and you really understand how it works, I. 0:11:25.440 --> 0:11:26.440 Tell people, stick with it. 0:11:26.440 --> 0:11:28.760 You only need two or three currency payers to really 0:11:28.840 --> 0:11:31.839 understand how they move, to understand how to be able 0:11:31.840 --> 0:11:33.559 to make money, similar to stocks, like you know, there's 0:11:33.559 --> 0:11:35.559 certain options. I'm sure you guys know, I know how 0:11:35.559 --> 0:11:38.320 this moves. And then whence you understand how it moves, like, okay, cool, 0:11:38.400 --> 0:11:40.400 let me just follow this. All right, it's pulled back here, 0:11:40.440 --> 0:11:42.880 but I know there's another opportunity for me to buy. 0:11:43.080 --> 0:11:45.320 So because I've been following it so long, I'm not 0:11:45.440 --> 0:11:47.160 freaking out about movements in the market. 0:11:47.200 --> 0:11:48.800 So if I like the time, if I'm like the 0:11:48.800 --> 0:11:51.440 British pound and waking up at three am, I'm fighting 0:11:51.440 --> 0:11:54.920 a trading pair at that time to actually say, all right, 0:11:55.040 --> 0:11:56.800 I'm staying in this market for the day or the 0:11:56.840 --> 0:11:57.680 minute of the hour or whatever. 0:11:57.880 --> 0:12:00.400 Okay, yeah, And the best time is to really traders 0:12:00.440 --> 0:12:03.480 when you have like an overlap of markets, So when 0:12:03.520 --> 0:12:06.319 you have the London session overlapped and overlapping with the 0:12:07.679 --> 0:12:09.079 New York session like the United. 0:12:08.920 --> 0:12:12.160 States overlapping meaning open versus closing, verse open, open and 0:12:12.200 --> 0:12:14.520 open open and the same time. 0:12:14.559 --> 0:12:16.480 Because remember this is the world wide market of money, 0:12:16.480 --> 0:12:18.840 so that means all these countries over here that's doing business. 0:12:19.120 --> 0:12:21.440 Everything that has to happen, Like even when the government 0:12:21.440 --> 0:12:23.280 has to buy something from another country, they got to 0:12:23.320 --> 0:12:26.400 exchange the currency first. So everything that has to happen 0:12:26.400 --> 0:12:29.160 with the worldwide economy, they have to This is this 0:12:29.200 --> 0:12:31.640 is where they have to play at. So now like 0:12:31.760 --> 0:12:35.760 if if Australia's open and let's say London is not, 0:12:35.840 --> 0:12:38.000 well it's not that much going on because it's only them, right, 0:12:38.040 --> 0:12:40.960 But when you got the United States open, you got 0:12:41.000 --> 0:12:43.040 London open at the same time, where there's a ton 0:12:43.080 --> 0:12:45.120 of movement that's happening in the market. 0:12:45.400 --> 0:12:48.200 So that's interesting in people might not be familiar that 0:12:48.280 --> 0:12:51.640 actually currencies do fluctuate. But like you said, if you 0:12:51.679 --> 0:12:54.360 go to that booth in the airport, or if you 0:12:54.440 --> 0:12:56.480 just watch the booth and you see those numbers, it's 0:12:56.520 --> 0:12:59.760 not like it's moving like stocks like up and down, 0:12:59.840 --> 0:13:03.520 like you know, crazy amounts, but those little it might 0:13:03.559 --> 0:13:05.199 be you know, a tenth of one percent. 0:13:05.280 --> 0:13:07.920 Yeah, pips, that's what we call this movements in the market. Yeah, 0:13:07.960 --> 0:13:10.520 so that's how we calculate movement in the market. 0:13:11.080 --> 0:13:14.199 And then your lot size, that's your risk, that's determines 0:13:14.240 --> 0:13:16.720 how much money you're gonna be making per pip. 0:13:17.080 --> 0:13:18.840 So explain the pips and lot size. 0:13:19.040 --> 0:13:22.160 So a pip is just basically the movement. So it's 0:13:22.200 --> 0:13:24.000 a little bit different. But if you if you looked 0:13:24.000 --> 0:13:25.880 at a chart like a four x shart, you would 0:13:25.920 --> 0:13:28.199 have like a price that's gonna be talking about like 0:13:28.240 --> 0:13:30.719 the main pair, right, and then as that is that 0:13:30.760 --> 0:13:31.839 fluctuates in the. 0:13:31.800 --> 0:13:33.120 Market, is it moves, that's the pip. 0:13:33.160 --> 0:13:37.200 That's its just how we calculate movement in the market pips. 0:13:36.720 --> 0:13:39.400 Like for stock market, they call basis points, which is 0:13:39.679 --> 0:13:42.240 a point of one percent correct, So like if it 0:13:42.280 --> 0:13:46.160 moves one basis point, that's point that's one percent of 0:13:46.240 --> 0:13:49.480 one percent correct. So if it's ten basis points is 0:13:49.600 --> 0:13:51.559 point ten? Is it similar to that? 0:13:51.920 --> 0:13:54.640 Yeah, that would kind of get into like the lot size, right, 0:13:54.679 --> 0:13:57.080 So because like now like yeah, I guess it moves 0:13:57.080 --> 0:13:58.400 by a certain amount of pips. So you can have 0:13:58.440 --> 0:14:00.679 one hundred pit move, you can have a thousand pit moves. 0:14:00.720 --> 0:14:03.160 When you say, when you hear people say that they're 0:14:03.200 --> 0:14:05.800 talking about the movement in the market, but that doesn't 0:14:05.840 --> 0:14:09.920 mean like, like let's say on cryptocurrency, bitcoin may move 0:14:09.960 --> 0:14:12.720 a thousand pips, but it may have only dropped a 0:14:12.760 --> 0:14:15.640 couple of dollars in real life, because it's just different 0:14:15.679 --> 0:14:16.840 movement in the market. 0:14:18.440 --> 0:14:20.800 Now, I will say it sounds similar to ticks in 0:14:21.120 --> 0:14:23.040 the future's market. Yeah, I think that was equal to 0:14:23.080 --> 0:14:25.000 like one cent or something like that. So it sounds 0:14:25.040 --> 0:14:25.800 like pretty similar. 0:14:26.040 --> 0:14:30.200 And then your lot size is just you have like 0:14:30.240 --> 0:14:34.000 a point zero one, so that's like ten cents a lot, right, 0:14:34.040 --> 0:14:34.520 then you have a. 0:14:36.200 --> 0:14:37.920 Yeah point one and then that's. 0:14:37.840 --> 0:14:40.600 That's a dollar a lot, and then you have a 0:14:40.640 --> 0:14:42.120 standard lot, which a lot of people want to try 0:14:42.160 --> 0:14:42.440 to get to. 0:14:42.480 --> 0:14:43.560 That's like a one point zero. 0:14:43.640 --> 0:14:47.360 So if that that's telling you, based on the lot size, 0:14:47.440 --> 0:14:49.200 how much money is going to be made on that 0:14:49.280 --> 0:14:51.960 move based on what you put in. So even if 0:14:51.960 --> 0:14:54.280 I had a ten thousand dollars account, but I only 0:14:54.320 --> 0:14:58.400 said I want to make a dollar per pip, if 0:14:58.400 --> 0:15:01.400 it moves one hundred pips, I made hundred dollars. But 0:15:01.440 --> 0:15:02.960 if I would have been on that same trade and 0:15:03.000 --> 0:15:05.520 said I want to make ten dollars a pip, well, 0:15:05.520 --> 0:15:06.960 then I would have made what is that one thousand 0:15:06.960 --> 0:15:09.800 dollars on that same trade. So it's not just the 0:15:09.840 --> 0:15:12.160 trade that's happening, it's also the risk that you set 0:15:12.200 --> 0:15:13.560 up on that particular trade. 0:15:13.760 --> 0:15:15.800 So what the what's something like all right, if you 0:15:15.800 --> 0:15:20.040 want to start trading, what's the format, Like, what's the platform. 0:15:19.520 --> 0:15:20.440 That medi traded for? 0:15:20.960 --> 0:15:22.640 It's a few of them, I mean meditrade for is 0:15:22.640 --> 0:15:25.200 what a lot of people use Trading View is a 0:15:25.200 --> 0:15:26.920 good place to look at charts. If you want to 0:15:26.920 --> 0:15:29.280 be independent of a company, like you know where you 0:15:29.280 --> 0:15:31.240 could just look at it yourself. You could do that 0:15:31.280 --> 0:15:33.480 as well, but you've got to have a broker that 0:15:33.520 --> 0:15:34.480 you're going to be attached to. 0:15:35.240 --> 0:15:36.840 So it's a ton of brokers out there. 0:15:37.120 --> 0:15:39.320 I tell people just choose a reputable one because you 0:15:39.360 --> 0:15:41.800 know there's scam brokers as well too. That's one of 0:15:41.800 --> 0:15:43.720 the benefits to having like stocks because you don't have 0:15:43.760 --> 0:15:46.360 to worry about somebody just you know, there's things that 0:15:46.480 --> 0:15:49.520 regulate the market right well four X. If you don't 0:15:49.560 --> 0:15:51.240 have a reputable broker, you could be in the trade 0:15:51.240 --> 0:15:53.560 and they said, hey, you know you you look at 0:15:53.560 --> 0:15:55.400 the chart and you won, but they're like, no, we 0:15:55.480 --> 0:15:57.960 got to spread and you lost. And that happens sometimes 0:15:57.960 --> 0:15:59.120 in the market. That's why you want to try to 0:15:59.160 --> 0:16:01.400 find like reputable brokers. And then once you get a 0:16:01.400 --> 0:16:03.000 reputable broker, then what you want to do is you 0:16:03.000 --> 0:16:05.000 want to connect it to your medi trader, for that's 0:16:05.000 --> 0:16:07.600 where you're going to really execute your trades. So what'dra 0:16:07.760 --> 0:16:09.600 four it's just a it's a platform for you to 0:16:09.640 --> 0:16:11.360 be to execute your trades. So it also has charts, 0:16:11.360 --> 0:16:14.320 but most people normally mark it up on like Trading 0:16:14.400 --> 0:16:16.400 View or some other like charting software, and then you 0:16:16.560 --> 0:16:18.920 just execute your trades from either your phone or your 0:16:19.000 --> 0:16:21.560 laptop there. So that's where that's where it's kind of 0:16:21.600 --> 0:16:23.640 like a almost like an e trade, except for it's 0:16:23.720 --> 0:16:26.640 not the broker as well. So it's like you find 0:16:26.640 --> 0:16:28.560 somebody that the broker that you're going to enter the 0:16:28.560 --> 0:16:31.440 trades through meditradeor four allows you to execute those trades 0:16:31.480 --> 0:16:32.040 for yourself. 0:16:32.080 --> 0:16:34.560 So for a lot a long time, especially documenting, people 0:16:34.600 --> 0:16:37.800 felt like for us is illegal and I'm wondering now 0:16:37.840 --> 0:16:40.280 obviously we know it's not, but what role do government 0:16:40.320 --> 0:16:40.800 banks play? 0:16:40.920 --> 0:16:41.080 Right? 0:16:41.080 --> 0:16:43.160 Because if the currencies drop when they be trying to 0:16:43.160 --> 0:16:45.000 purchase them, like, what role are they having. 0:16:45.320 --> 0:16:47.240 They're one of the big players in the market. So 0:16:47.280 --> 0:16:48.880 you've got I mean, it's a lot of players in 0:16:48.920 --> 0:16:51.800 the market. You got governments, you got banks, the other 0:16:52.480 --> 0:16:54.760 financial institutions, hedge funds, believe it or not, a lot 0:16:54.760 --> 0:16:56.120 of hedge funds actually trade for it. 0:16:56.640 --> 0:16:57.920 I saw that one. 0:16:58.240 --> 0:16:59.400