WEBVTT - Cliff Notes: THE KEYS TO BUILD WEALTH

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<v Speaker 2>And this is a great gym that I need you

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<v Speaker 2>guys to hear from your legendary Tim Grober.

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<v Speaker 3>The greatest inner circle individuals are so small. Distance becomes

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<v Speaker 3>their best friends since from their competition, okay, distance from others.

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<v Speaker 3>Everyone tries to fit into a group. Okay, you're growing up.

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<v Speaker 3>Want to be part of this fraternity. I want to

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<v Speaker 3>hang out with these people. I want to hang out

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<v Speaker 3>over here. Who do you iidlize the most, the ones

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<v Speaker 3>that stand alone, the ones that create distance between you

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<v Speaker 3>and the competition and everybody else. Okay, you have all

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<v Speaker 3>your friends that they may have all started off together,

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<v Speaker 3>and what happens is when they know they can't keep up. Okay,

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<v Speaker 3>you create distance. You want them to come with you,

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<v Speaker 3>but they don't have the ability to, they don't have

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<v Speaker 3>the discipline, they don't have the sacrifice. So distance has

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<v Speaker 3>to become your best friend in order for you to

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<v Speaker 3>achieve the best at what you want to do. I

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<v Speaker 3>know these are completely different thoughts than when other people

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<v Speaker 3>tell what other people tell you surround yourself the positive people,

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<v Speaker 3>you know what that means. That means life face so

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<v Speaker 3>I can feel good about myself.

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<v Speaker 2>And I don't want you to cut off all of

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<v Speaker 2>your friends on this journey because we'll see those posts

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<v Speaker 2>a cut off the five people like you have to

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<v Speaker 2>keep your friends that are your day ones that have

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<v Speaker 2>been supportive. But a lot of times we want support

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<v Speaker 2>to go to where we need to go, but.

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<v Speaker 4>We don't want to do it alone.

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<v Speaker 2>That's why when you guys are like, hey, I need

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<v Speaker 2>an accountability party, I'm like, no, you need to be

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<v Speaker 2>accountable because if your trading buddy makes a three hundred

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<v Speaker 2>thousand dollars trade with you, they're not going to split

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<v Speaker 2>half that money with you. I'm telling you that this

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<v Speaker 2>is the reason why most people fail. I thought this

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<v Speaker 2>message was absolutely amazing.

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<v Speaker 5>The reason most people fail is because they give up

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<v Speaker 5>what they want most for what they want now. The

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<v Speaker 5>reason most people fail is because they give up what

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<v Speaker 5>they want most for what they want now. If that

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<v Speaker 5>was one message, it'd probably be that, like people don't

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<v Speaker 5>fail because they're not talented or skilled or whatever.

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<v Speaker 4>It's like, you give up what you want most for

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<v Speaker 4>what you want now.

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<v Speaker 2>And how many of us have ever given up what

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<v Speaker 2>we truly want for the short term?

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<v Speaker 4>We all have.

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<v Speaker 2>Let's make the adjustment going forward. It's twenty twenty one,

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<v Speaker 2>it's crazy. In nine years, will be in a new decade,

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<v Speaker 2>twenty ten to one. By so fast, Let's make the

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<v Speaker 2>choice to be dedicated and not give up the long

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<v Speaker 2>term goal for the short term and then for many

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<v Speaker 2>your twenties, let your uncles and give you some advice.

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<v Speaker 2>Check these tips out real quickly. We'll get back to

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<v Speaker 2>the investment gyms.

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<v Speaker 6>If you can give one piece of advice to a

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<v Speaker 6>guy in his early twenties, what would it be. Do

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<v Speaker 6>not move out of your parents' house until you've saved

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<v Speaker 6>up at least twenty five grand make friends and don't date,

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<v Speaker 6>don't date, travel, move out of your hometown, get very

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<v Speaker 6>acquainted with a primary care professional, get a therapist, buy

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<v Speaker 6>a gun, and get really good at using it. Get

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<v Speaker 6>a passport and get really good at using it. Go

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<v Speaker 6>to a gym and work for an eight pack. You

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<v Speaker 6>really have nothing but time. Pick up a sport and

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<v Speaker 6>get good at it. Stop eating like a damn ninja turtle.

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<v Speaker 6>Drink water, wash your ass daily. Buy three suits, a black, one,

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<v Speaker 6>navy blue, heather gray. Each one should be tailored. Buy

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<v Speaker 6>life insurance. The younger you are, the cheaper it is.

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<v Speaker 6>Most importantly, find and protect your peace. Remember that you

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<v Speaker 6>were a man before her, you were a man with her,

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<v Speaker 6>and now you'll be a man without her.

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<v Speaker 1>Good luck.

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<v Speaker 4>No Kevin Samuels, but fellos, go ahead. I'll put this.

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<v Speaker 2>I want to be on a record for this, and

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<v Speaker 2>there's gonna be solations, and I know people going to

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<v Speaker 2>say that I'm wrong. The peak for apple Stock will

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<v Speaker 2>be November third, twenty thirty five. So a lot of

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<v Speaker 2>you are like, hey, when is it run? I know

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<v Speaker 2>y'all gonna be like, do crazy? He don't know and

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<v Speaker 2>he's just making up shit. Now I'm not Apple's peak

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<v Speaker 2>November third, twenty thirty five.

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<v Speaker 4>I want to be on a record.

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<v Speaker 2>Hey, which was a good album on the low shout

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<v Speaker 2>out to Nazi. But if you guys, go copy this.

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<v Speaker 2>I'm coming up to the station. If one of y'all

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<v Speaker 2>say this on TV.

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<v Speaker 4>Love y'all.

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<v Speaker 2>Uh for those of you for futures. I know it

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<v Speaker 2>may be difficult, but put this in check. Your target

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<v Speaker 2>for the bond market should be thirty three ticks.

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<v Speaker 4>Here's why.

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<v Speaker 2>It takes the same amount of energy to hit a

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<v Speaker 2>big target as it does a small target. The great

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<v Speaker 2>thing is that ZB pays more so kudos to his

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<v Speaker 2>brother who hit his target, but with seven kinds and

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<v Speaker 2>I want you guys to multiply five hundred times seven.

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<v Speaker 2>That was the initial investment into the market. The payout

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<v Speaker 2>was seven two hundred and eighteen thousand and seventy five cent.

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<v Speaker 4>Great job. Thirty three tich should be your primary target

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<v Speaker 4>for Z and you accountability.

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<v Speaker 2>At one point on the show, I said AMD would

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<v Speaker 2>dip to sixty seven to fifty six. It didn't get

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<v Speaker 2>there and stopped the seventy two fifty. The crystal ball

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<v Speaker 2>was broken. I don't know if I didnt re calibrated

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<v Speaker 2>or I should have put it out when the moon

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<v Speaker 2>we had a full moon.

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<v Speaker 4>Didn't get there. My bad. Sorry, I was off by

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<v Speaker 4>a couple bucks.

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<v Speaker 2>Ian doesn't know anything right, so I want to be

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<v Speaker 2>accountable and say that it didn't get there. But for

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<v Speaker 2>those you got in in the seventies, great job and

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<v Speaker 2>hope for the long term going forward.

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<v Speaker 7>A good spot is This episode is brought to you

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<v Speaker 9>Trading Crypto invalve significant risk. Crypto trading is offered to

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<v Speaker 9>New York State Department of Financial Services. Crypto healthro Robinhod

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<v Speaker 9>Cryptos not FDIC insured or SIPC protect. Investing in VOSS

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<v Speaker 9>risk including LOSSO principle securities trading is offer through an

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<v Speaker 9>account with robin Hood Financial LLC member SIPC a registered

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<v Speaker 9>broker dealer.

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<v Speaker 2>One two sixty two for AMD to hold long term

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<v Speaker 2>either five or ten years, put a one O two

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<v Speaker 2>sixty two in Chat. Please and kudos to my sister Deborah.

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<v Speaker 2>I've been telling you about it. She's been holding since

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<v Speaker 2>eleven when it hit the all time high. That's eleven

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<v Speaker 2>point one to three X from long term investment only,

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<v Speaker 2>no options. I want you to put in chat right now.

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<v Speaker 2>Long term investment is the wave. Now go ask any

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<v Speaker 2>day trader that you know and asks them have they

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<v Speaker 2>made eleven X on a trade? Most have not. You

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<v Speaker 2>can get the same kind of games long term investing

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<v Speaker 2>with a great setup that you can from day trader

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<v Speaker 2>and have the money working for you at the same time.

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<v Speaker 2>Once again, I want to say scores new JP Morgan,

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<v Speaker 2>please hold for the next ten years. Here are the

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<v Speaker 2>top twelve reasons that most traders fail, and please write

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<v Speaker 2>this down. Most don't have good risk to reward ratio,

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<v Speaker 2>So you want to risk one to make eleven write

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<v Speaker 2>this down.

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<v Speaker 4>Or risk one to make fifty.

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<v Speaker 2>So if you're risking two percent of your capital in

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<v Speaker 2>a trade, your target would then be twenty two percent.

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<v Speaker 2>Or if you're risking two percent and you want a

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<v Speaker 2>fifty X, you will be going for a target of

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<v Speaker 2>one hundred percent. If you stay within that ratio and

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<v Speaker 2>you only take forty eight trades or less per year,

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<v Speaker 2>as Damnar impossible if you're trading with the trend to

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<v Speaker 2>be able to hit the target. If you want a

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<v Speaker 2>four breakdown of a great book on this is called

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<v Speaker 2>The Complete Turtle Traders by Michael Covell. Go to chapter

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<v Speaker 2>five and six. If you read those two chapters and

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<v Speaker 2>never dB eight, you'll be fine. A lot of traders

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<v Speaker 2>end up blowing up their money and their account going

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<v Speaker 2>for a one to one risk of reward ratio and

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<v Speaker 2>taking too many trades.

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<v Speaker 4>Number two. Most have unless realistic expectations.

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<v Speaker 2>So when I ask a lot of you, like how

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<v Speaker 2>many trades are you gonna take for the year, you

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<v Speaker 2>like eight hundred.

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<v Speaker 4>I'm like you can't take eight hundred trades on a year.

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<v Speaker 2>You can't take five hundred and at a high level,

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<v Speaker 2>Rasha Troy, like in your options, how many trades are

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<v Speaker 2>you taken this year?

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<v Speaker 4>Oh? Like three? And you guys can say whatever. You

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<v Speaker 4>go ahead, Rashaan, go ahead and say it.

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<v Speaker 9>No, not a lot for me, not a lot.

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<v Speaker 4>And arguably they're humble about it.

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<v Speaker 2>I'll say it for it for them to not trade

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<v Speaker 2>all day every day because they running all this other

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<v Speaker 2>media and.

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<v Speaker 4>Like they'll bust your ass praise.

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<v Speaker 2>Selection is everything, like and if I can be honest

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<v Speaker 2>with you guys, when you guys are like in my

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<v Speaker 2>comments like what you don't know and you can't do it,

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<v Speaker 2>I'm like, I know, and we'll get to the emotions part.

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<v Speaker 2>But if you don't have your emotions in check, then

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<v Speaker 2>therefore your trading plan is not in check. I know,

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<v Speaker 2>you can't beat me because you can't stop overtrading. You know,

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<v Speaker 2>the people that are really good at trading, like go

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<v Speaker 2>watch Bono Win's interview. Bono Win did not care anything

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<v Speaker 2>about what I say with choice hit he stick to

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<v Speaker 2>us plan, put on that nice grand go about his business.

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<v Speaker 2>One of the greatest traders I probably ever encountered. Those

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<v Speaker 2>that are good at the craft don't have to declare

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<v Speaker 2>it to anybody else. But if you can stay within

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<v Speaker 2>the sweet spot of twenty four to forty eight, you'll

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<v Speaker 2>be good. Third, most can't manage emotions. If you can't,

0:11:05.960 --> 0:11:07.679
<v Speaker 2>I'm telling you fast and is the way to go

0:11:07.840 --> 0:11:09.000
<v Speaker 2>or do to ten miles to day.

0:11:09.280 --> 0:11:10.560
<v Speaker 4>Most don't do any research.

0:11:10.920 --> 0:11:13.040
<v Speaker 2>You need to know the stocks or features that you're

0:11:13.080 --> 0:11:15.199
<v Speaker 2>trading like the back of your hand. I could tell

0:11:15.240 --> 0:11:19.719
<v Speaker 2>you everything about ESCB, you be crewde Russell, Nastat n

0:11:19.920 --> 0:11:23.360
<v Speaker 2>K Swiss Frank Future up and down in my sleep

0:11:23.520 --> 0:11:25.800
<v Speaker 2>if only had one hour of sleep. You need to know,

0:11:25.960 --> 0:11:27.599
<v Speaker 2>like the back of your hand, that is going to

0:11:27.640 --> 0:11:30.760
<v Speaker 2>give your edge. If you're undercapitalized, you need to take

0:11:30.800 --> 0:11:33.960
<v Speaker 2>even less trades and then also work more to build

0:11:34.000 --> 0:11:37.760
<v Speaker 2>more capital because being undercapitalized put you in a position

0:11:38.200 --> 0:11:40.320
<v Speaker 2>to have to take risk your trades to build up

0:11:40.360 --> 0:11:42.560
<v Speaker 2>your account, and that's only going to favor your broker.

0:11:43.040 --> 0:11:45.079
<v Speaker 2>Most quit too early. I hate to say it, You're

0:11:45.120 --> 0:11:47.839
<v Speaker 2>not going to be good in three months. Like That's

0:11:47.880 --> 0:11:49.560
<v Speaker 2>why I'll go back and show you I was talking

0:11:49.559 --> 0:11:51.800
<v Speaker 2>about this twelve and thirteen years ago before it was cool.

0:11:52.360 --> 0:11:54.520
<v Speaker 2>It's going to take you maybe two or three years

0:11:54.520 --> 0:11:55.520
<v Speaker 2>to get really good.

0:11:55.679 --> 0:11:57.600
<v Speaker 4>To be great, it may take you five to seven.

0:11:57.880 --> 0:12:01.240
<v Speaker 2>It's like none of you you at nine years old

0:12:01.480 --> 0:12:03.760
<v Speaker 2>start playing basketball. I'm black at fourteen, I'm ready to

0:12:03.760 --> 0:12:05.880
<v Speaker 2>go to the league as great as Mikey is. I

0:12:05.920 --> 0:12:08.360
<v Speaker 2>don't think Mikey is ready for the NBA this season,

0:12:09.640 --> 0:12:11.880
<v Speaker 2>and he's probably one of the greatest high schoolers ever. Right,

0:12:12.360 --> 0:12:15.280
<v Speaker 2>you have to get acclimated with the market enough to

0:12:15.440 --> 0:12:17.600
<v Speaker 2>know what to do. But once you have that, not

0:12:17.640 --> 0:12:20.000
<v Speaker 2>many will be able to beat you. Most of undisciplined

0:12:20.080 --> 0:12:22.640
<v Speaker 2>is the number one reason why people lose. Arrogance is

0:12:23.040 --> 0:12:25.520
<v Speaker 2>a big factor in it because it's not really about

0:12:25.559 --> 0:12:28.200
<v Speaker 2>the indicator. It is about your risk to reward ratio.

0:12:28.520 --> 0:12:30.960
<v Speaker 2>Please put in chat. Risk to reward ratio is the

0:12:31.000 --> 0:12:34.679
<v Speaker 2>greatest indicator of all time. Your RSI doesn't you got

0:12:34.720 --> 0:12:37.880
<v Speaker 2>like RSI? If RSI battles that much, take the charts

0:12:37.960 --> 0:12:42.240
<v Speaker 2>off and just trade off RSI when it gets to thirty,

0:12:42.760 --> 0:12:45.680
<v Speaker 2>Watch how much you draw down short at seventy and

0:12:45.679 --> 0:12:46.640
<v Speaker 2>see how well it does.

0:12:46.960 --> 0:12:48.520
<v Speaker 4>Your risk to reward means everything.

0:12:48.880 --> 0:12:50.840
<v Speaker 2>Delusion for all of you who are like, Hey, I'm

0:12:50.840 --> 0:12:52.920
<v Speaker 2>gonna get eighty eight thousand percent returning in the year

0:12:53.920 --> 0:12:56.960
<v Speaker 2>highly unlikely end an ego is the biggest reason why

0:12:57.000 --> 0:12:58.800
<v Speaker 2>most people end up losing.

0:13:00.640 --> 0:13:05.520
<v Speaker 6>My graduates from my school being forced bad drop bag

0:13:05.640 --> 0:13:09.000
<v Speaker 6>drop my drop bad drop drops.

0:13:19.840 --> 0:13:23.720
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