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Transcript

OVERTRADING Is A Guarantee You’ll Stay BROKE · Earn Your Leisure

• 0:00
  Speaker 1: What's the trading tip of the week.
• 0:03
  Speaker 2: I was having a great conversation today, and I know
• 0:08
  Speaker 2: there's a lot of fear in the market. But just
• 0:11
  Speaker 2: because there's more volatility in the market doesn't mean it's
• 0:15
  Speaker 2: time to take more trades. Like some of you are
• 0:18
  Speaker 2: having arguments with your business partners, your husband's boyfriend's girlfriends
• 0:23
  Speaker 2: wives before you're trading. Just because there is a precipitous
• 0:29
  Speaker 2: incline in volatility and information, don't deviate from your twelve.
• 0:34
  Speaker 1: Trades per year.
• 0:35
  Speaker 2: Like if you're trading futures, if you get twelve good trades,
• 0:38
  Speaker 2: you should hit one thousand to three thousand percent return.
• 0:42
  Speaker 2: Trading has considerable risk. Please consult your advisor, consultial broker statements, etc. Right,
• 0:48
  Speaker 2: but some of you are taking one great, great trade,
• 0:51
  Speaker 2: winning and then saying, oh, let me do this three
• 0:53
  Speaker 2: more times to make up for the misses I had before,
• 0:57
  Speaker 2: and now you're given all your games away or even.
• 1:00
  Speaker 1: Splowing your accounts.
• 1:01
  Speaker 2: So just because we have more volatility, it does not
• 1:05
  Speaker 2: mean to take more trades less it's more. I know
• 1:08
  Speaker 2: it's a thing you don't want to hear, but for
• 1:10
  Speaker 2: those of you who have taken thirty to forty trades
• 1:13
  Speaker 2: in the month, did it work for you in your favor?
• 1:16
  Speaker 2: Even though we have in these issues week to week,
• 1:19
  Speaker 2: we've been thirty days into the war. The people who've
• 1:22
  Speaker 2: made the most money are the ones who held their
• 1:23
  Speaker 2: trades for the longest. Less is more just because there's
• 1:27
  Speaker 2: more volatility. Don't trade more. You can do whatever you want,
• 1:30
  Speaker 2: but if you lose, you deserve to be broken. Back
• 1:33
  Speaker 2: to you shot, you definitely deserve to be broke.
• 1:40
  Speaker 3: It's interesting because it fits in that that same realm
• 1:46
  Speaker 3: of overtrading. I think, especially for us, when we talk
• 1:49
  Speaker 3: about long term trading, you always say that the best
• 1:51
  Speaker 3: the best asset is time. Absolutely, if you're trading options,
• 1:55
  Speaker 3: you're buying inequities or indexes ETFs by time. By time,
• 2:01
  Speaker 3: I know, and I got a few texts about it, like, Man,
• 2:04
  Speaker 3: my account, it's hurt, it's hurt, it's hurt.
• 2:07
  Speaker 1: I'm like, this is week five of a war.
• 2:10
  Speaker 2: Yeah, and you're going out a week and a half
• 2:12
  Speaker 2: for two weeks. If you went out a year, you
• 2:15
  Speaker 2: will be fine. So by time it's important. And then
• 2:20
  Speaker 2: when you start to see your account go in a
• 2:23
  Speaker 2: different direction. Right, This is why having that.
• 2:26
  Speaker 3: Plan before you enter any position is important. Having that
• 2:30
  Speaker 3: stop loss is important. Understanding like that there's going to
• 2:33
  Speaker 3: be pulled backs, Understanding hey where am I taking my
• 2:36
  Speaker 3: profits at all? Those things are important, and they become
• 2:39
  Speaker 3: even more important when it's volatility. But like I said
• 2:42
  Speaker 3: last week, if you can find clarity in this uncertainty,
• 2:44
  Speaker 3: there's going to be some opportunities for you to make
• 2:47
  Speaker 3: money if you have a long term vision, which is
• 2:49
  Speaker 3: why buying time is violently important.
• 2:52
  Speaker 1: So my thing would just be by time.
• 2:54
  Speaker 3: By time, it will always work in your favor from
• 2:57
  Speaker 3: a long term perspective and even from a leap perspective
• 3:00
  Speaker 3: as well.
• 3:01
  Speaker 2: The Sunday market jump has been a relatively new thing
• 3:05
  Speaker 2: for most traders.
• 3:07
  Speaker 1: The move is not always going to present itself.
• 3:09
  Speaker 2: I remember, maybe even eight years ago, I've always looked
• 3:11
  Speaker 2: natural gas on Sunday evening and you kind of want
• 3:14
  Speaker 2: to force a move. If it's not there, go to
• 3:16
  Speaker 2: the London. If it's not there, go to the American clothes.
• 3:20
  Speaker 2: But some of you are wasting great volatile situations, burning
• 3:24
  Speaker 2: through your account, not being disciplined, Like somebody today was
• 3:27
  Speaker 2: like all way long, why did I get chopped? I'm like,
• 3:30
  Speaker 2: what news is positive for you to go along.
• 3:33
  Speaker 3: It's tricky because I understand it, and I've had this
• 3:38
  Speaker 3: question as well. When again, when you're watching Sunday Night
• 3:42
  Speaker 3: and you start to see the futures market for the Dow,
• 3:46
  Speaker 3: the NASTAC has MP even last night it was like negative,
• 3:49
  Speaker 3: and then you wake up and it's positive and the
• 3:51
  Speaker 3: Dow's topped three hundred points on news that there might
• 3:54
  Speaker 3: be an end to it. And I feel like we've
• 3:56
  Speaker 3: been recycling the same thing for the past four weeks.
• 4:00
  Speaker 1: Yep.
• 4:00
  Speaker 3: Sunday Night, it's oh, we're close, We're going to do this,
• 4:04
  Speaker 3: and by the time the market opens, it's a complete
• 4:06
  Speaker 3: reversal because at this point, yeah, it's the Taco effect, right,
• 4:11
  Speaker 3: like we heard it, but there is the sustainability of it.
• 4:16
  Speaker 3: Now it's worn off. It's like it's either we're going
• 4:20
  Speaker 3: to escalate or we're going to end. And I'm not
• 4:23
  Speaker 3: sure which one's going to happen.
• 4:24
  Speaker 1: It feels more like.
• 4:26
  Speaker 3: Right, it feels more like escalation is where we're headed.
• 4:29
  Speaker 3: But then you you'll hear reports today saying, hey, we're
• 4:32
  Speaker 3: pretty close to a deal, and then you know, by
• 4:34
  Speaker 3: nine forty five the other side will say we never.
• 4:37
  Speaker 1: Even spoken to them.
• 4:38
  Speaker 3: There is no deal.
• 4:39
  Speaker 1: Yeah, you know.
• 4:40
  Speaker 3: So it's very confusing, and I understand people's appetite.
• 4:44
  Speaker 1: They're like, wait, I don't even know what to do.
• 4:46
  Speaker 2: Sit on the sidewide by your time, and we're shot
• 4:50
  Speaker 2: real quick before you go. Can I give you, guys
• 4:51
  Speaker 2: an indicator that the market is not good? Bill Ackman
• 4:56
  Speaker 2: gets on Twitter and tells you what to buy again,
• 4:58
  Speaker 2: like in twenty twenty, Hey, Fanny and Freddy are a
• 5:01
  Speaker 2: great investment. Whenever Bill Ackman comes out and starts to
• 5:05
  Speaker 2: front run the news and tries to act like Wall Street, Jesus,
• 5:11
  Speaker 2: we may see a turnaround soon, but that's usually not
• 5:14
  Speaker 2: for the publics benefit. Remember when he went on CNBC
• 5:17
  Speaker 2: it almost cried and the Little War.
• 5:19
  Speaker 1: Saga and made six six billion right after that.
• 5:23
  Speaker 2: Yes, be mindful every turn. We're seeing manipulation of the
• 5:29
  Speaker 2: highest order. Look at your monthly timeframe, your week daily allegedly,
• 5:34
  Speaker 2: and if they are not all in alignment, now it's
• 5:36
  Speaker 2: not the time to buy. But when Powell is saying, yo,
• 5:40
  Speaker 2: we need to rebalance even the United States debt to GDP,
• 5:44
  Speaker 2: which I've talked about forever, that's a concern when there's
• 5:47
  Speaker 2: no growing jobs.
• 5:48
  Speaker 1: That's a concern.
• 5:50
  Speaker 2: There isn't a clear signal to buy yet if you're
• 5:52
  Speaker 2: intradated trading to the upside.
• 5:54
  Speaker 3: Chet Yeah, I say alleged because this we missed this
• 5:59
  Speaker 3: part our content, and as it tendency to be used,
• 6:00
  Speaker 3: it must be used for informational purposes only. Yes, it's
• 6:03
  Speaker 3: very important to do your own analysis before making any
• 6:05
  Speaker 3: investment based on your own personal circumstance. You should take
• 6:07
  Speaker 3: independent financial advice from a professional connection with or independent
• 6:10
  Speaker 3: research and verify any information that you find on our
• 6:12
  Speaker 3: show and wish to rely upon, whether for the purpose
• 6:15
  Speaker 3: of making an investment decision or otherwise.
• 6:17
  Speaker 1: People continue to.
• 6:18
  Speaker 3: Do the research, continue to build now is build our community,
• 6:20
  Speaker 3: build the brokerage account.
• 6:21
  Speaker 1: Love is Love's back to our record schedule program. Taco
• 6:24
  Speaker 1: news is fake fake news. Taco I will say this.
• 6:34
  Speaker 4: We don't have the ticker this week because we have
• 6:37
  Speaker 4: some technical difficulties.
• 6:38
  Speaker 1: This is live, it's a live show.
• 6:40
  Speaker 4: It's a live show, so we had some last minute
• 6:43
  Speaker 4: technical difficulties, so we were not able to get the ticker,
• 6:48
  Speaker 4: as you guys have become accustomed to.
• 6:50
  Speaker 1: But you know, the show must go on. It will
• 6:53
  Speaker 1: go on the show. The show must go on.