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Speaker 1: This episode is brought to you by P and C Bank.

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Speaker 1: A lot of people think podcasts about work are boring,

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Speaker 1: and sure they definitely can be, but understanding a professionals

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Speaker 1: routine shows us how they achieve their success little by little,

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Speaker 1: day after day. It's like banking with P and C Bank.

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Speaker 1: It might seem boring to save, plan and make calculated

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Speaker 1: decisions with your bank, but keeping your money boring is

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Speaker 1: what helps you live or more happily fulfilled life. P

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Speaker 1: and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly

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Speaker 1: Boring since eighteen sixty five is a service mark of

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Speaker 1: the PNC Financial Service Group, Inc. P and C Bank

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Speaker 1: National Association Member FDIC.

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Speaker 2: So starting off with trading, what's a futures trading tip

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Speaker 2: of the week.

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Speaker 3: I don't know if I went over this in for

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Speaker 3: detail before, but to my futures traders, having too type

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Speaker 3: of a stop loss is almost worse than having no

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Speaker 3: stop loss at all. A lot of times when we're

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Speaker 3: looking to get into a move, we're looking to protect

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Speaker 3: our account, and both of you can speak at us

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Speaker 3: from the options perspective, but sometimes you can have a

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Speaker 3: stop loss that is so tight that you don't even

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Speaker 3: give yourself room to be able to let the move

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Speaker 3: fully mature.

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Speaker 1: So I know somebody.

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Speaker 3: Last Friday who probably miss out on like sixty grand

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Speaker 3: having a stop loss at twelve hundred bucks.

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Speaker 1: Like, I get it.

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Speaker 3: If you're trading a bunch of contracts, you want to

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Speaker 3: have protection, but you need to put your stop loss

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Speaker 3: in places where the brokerages and competition won't hit your

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Speaker 3: liquidity sweep zones and stop low zones and hunt there.

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Speaker 3: And also too, like we were talking to one of

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Speaker 3: our good friends before this, you have to know the

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Speaker 3: exit before you get in.

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Speaker 1: So if you're going to lose.

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Speaker 3: Six thousand bucks but the upside is sixty grand, why

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Speaker 3: cut it off.

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Speaker 1: At twelve fifty?

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Speaker 3: You go into it knowing put this in chat, go

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Speaker 3: into it knowing what your maximum loss will be and

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Speaker 3: what your maximum profit target will be. But having too

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Speaker 3: tight of a stop loss, damn, there is worse than

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Speaker 3: having those stop loss at all.

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Speaker 1: It's a terrible feeling, it really is. It's a terrible feeling.

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Speaker 3: For to go down and then go where you knew

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Speaker 3: what it was going to go.

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Speaker 1: Oh my god. Yeah, it's tough. I think that's why

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Speaker 1: a part of that plan we always talk about having

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Speaker 1: a plan is figure out what that threshold is. I

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Speaker 1: know some people don't have a strong threshold, so it

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Speaker 1: might be a twenty percent pullback, but especially when you're

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Speaker 1: talking about equities, that's a I mean, that's a correction, right, Yeah.

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Speaker 1: When you talking about futures and options, that could be

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Speaker 1: that's a minute, right like that that could be in

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Speaker 1: five minutes, and so you got to take that into account.

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Speaker 1: How voltile that these assets moved or these derivatives move,

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Speaker 1: and so twenty percent it feels like all right, depending

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Speaker 1: on the company, that feels like it's safe. But you know,

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Speaker 1: like I've said, I've depended on the company and video

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Speaker 1: I've done. I've taking a stop loss of because I

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Speaker 1: understand the company, I understand how the market moves now,

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Speaker 1: I understand the long term vision for it, which is

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Speaker 1: why we always buy time. So if you don't have

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Speaker 1: time in it, right and you're having these you're gonna

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Speaker 1: lose out. So putting that ThReD I like, and I

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Speaker 1: know you we've gone back and forth. When I'm doing

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Speaker 1: an option called thirty to forty, I feel like is

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Speaker 1: a safe space now depends Like I said, depend on

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Speaker 1: the company. That'll change my company. Probably. I've changed that

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Speaker 1: for Microsoft. I've changed that for but like super Micro, right,

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Speaker 1: once it hits a threshold, I gotta go, I gotta go.

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Speaker 1: I don't love right. I'm not in love with the

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Speaker 1: option trade right. It makes sense and I feel like

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Speaker 1: it can make money. But if it's not making money,

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Speaker 1: then there's there's another opportunity where we can put that capital.

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Speaker 1: So have a plan before you enter any position. We

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Speaker 1: can say it, but most people still don't do it right.

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Speaker 1: Like we talked about our close friend made money and

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Speaker 1: now let's trying to figure out what should I do.

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Speaker 1: I have to know the exit.

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Speaker 3: You got to have a planter yep, because you can't

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Speaker 3: figure out how to assemble a plane on the way down.

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Speaker 3: I know they love to say that in Silicon Valley,

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Speaker 3: like figure out how to build a plane on the

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Speaker 3: way down.

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Speaker 1: It doesn't work that way in our life.

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Speaker 3: You're gonna crash out every time. And also to even

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Speaker 3: with the asset they were trading the ees Mini, the

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Speaker 3: s and P five hundred, I'm like, if you knew

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Speaker 3: the market was falling, why have such a tight stop

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Speaker 3: And we've been falling.

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Speaker 1: But it's fear. It's fear.

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Speaker 3: A lot of it is not knowing your entry, not

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Speaker 3: knowing your exit when you're going to profit. And then

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Speaker 3: the other part that isn't talked about enough is you're

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Speaker 3: doing so many different things when you're trading, you end

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Speaker 3: up getting confused on how this is going to pan out.

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Speaker 3: That's why I say trade one way in, one way

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Speaker 3: out all the time, so you can have a huge

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Speaker 3: data set to know what the outcome is going to be.

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Speaker 1: There's that psychology, and we were like talking about it before,

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Speaker 1: but it's that psychology. The fear comes because of the

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Speaker 1: lack of education and preparation, which is underst Annibal. What

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Speaker 1: is the other side of that? When you see people win, right,

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Speaker 1: Like if you're like you're watching people, especially when you

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Speaker 1: watch people on social media, it's like, man, they've have

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Speaker 1: percentage gains, they've had percentage gains. Psychologically, do you think

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Speaker 1: that works as a detriment or is it more advantage

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Speaker 1: to say, oh I should be involved. I often wonder

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Speaker 1: like how people do that?

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Speaker 3: Maybe both were shot?

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Speaker 1: What you think?

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Speaker 2: Yeah, for sure, I think it psychologically definitely plays a

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Speaker 2: bar as far as investing is concerned, because no one

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Speaker 2: wants to lose money, and then no one wants to

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Speaker 2: have somebody make more money than them. So it's a

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Speaker 2: catch twenty two because you don't want to lose money,

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Speaker 2: but then the risk of making money, so you you

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Speaker 2: constantly kind of you know.

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Speaker 3: Run ways yeap, Yeah, keep your eyes.

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Speaker 1: On your own paper. I think that that's a bar

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Speaker 1: right there, the risk of making money, like you already

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Speaker 1: that the rest of making money, which is like damn,

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Speaker 1: that just sounded crazy just.

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Speaker 3: Now, but that's way I because you're seeing other people

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Speaker 3: post their games but not always their losses. And on

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Speaker 3: top of that, when you start to have too much comparison,

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Speaker 3: that's when the fomo and the overtrading and the over

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Speaker 3: leveraging really kicks in. It really kicks in. Just focus

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Speaker 3: on your race.

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Speaker 1: Earners, what's up. You ever walk into a small business

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Speaker 1: and everything just works like the checkout is fast, the

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Speaker 1: seats are digital, tipping is a breeze, and you're out

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Speaker 1: the door before the line even builds. Odds are they're

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Speaker 1: using Square? We love supporting businesses that run on Square

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Speaker 1: because it just feels seamless, whether it's a local coffee shop,

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Speaker 1: a vendor at a pop up market, or even one

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Speaker 1: of our merch partners. Square makes it easy for them

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Speaker 1: to take payments, manage inventory, and run their business with confidence,

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Speaker 1: all from one simple system. One of the things we

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Speaker 1: love most is seeing neighborhood businesses level up. Disnes's West

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Speaker 1: Indianspired writing our community that started with a small takeout counter.

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Speaker 1: Now with Square they've been able to expand into a

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Speaker 1: full sit down restaurant and even started catering events across

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Speaker 1: the city. That's the kind of growth that inspires us,

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Speaker 1: and it's powered by Square. Square is built for all

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Speaker 1: types of businesses, from the corner bagel shop that turned

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Speaker 1: into a local chain, to the specialty market with thousands

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Speaker 1: of unique items, to the stylists who's been holding you

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Speaker 1: down for years. If you're a business owner or even

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Speaker 1: just thinking about launching something soon, Square is hands down

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Speaker 1: one of the best tools out there to help you start,

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Speaker 1: run and grow. It's not just about payments, it's about

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Speaker 1: giving you time back so you can focus on what

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Speaker 1: matters most ready. To see how Square can transform your business,

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Speaker 1: visit Square dot com, backslash go, backslash eyl to learn

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Speaker 1: more that Square dot com, backslash go backslash EYL, don't wait,

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Speaker 1: don't hesitate. Let Square handle the back end so you

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Speaker 1: can keep pushing your vision forward