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Trade More Than Twice a Week and You’ll Go Broke · Earn Your Leisure

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  Speaker 1: I'm gonna be very honest.
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  Speaker 2: I had a bunch of amazing conversations, amazing dinner with
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  Speaker 2: the Red Panda millionaires last night. You won't make hundreds
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  Speaker 2: of thousands of dollars or millions of dollars by over trading,
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  Speaker 2: And anybody who's taken more than five trades a week,
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  Speaker 2: you're going to be broke. I had a chance to
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  Speaker 2: talk to a lot of traders, Troy, I had a
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  Speaker 2: chance to talk to keV before y'all took off. The
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  Speaker 2: thing that I'm seeing from a lot of people in
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  Speaker 2: Red Panda, there's one correlation that I see from everyone
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  Speaker 2: who is making one hundred thousand in a month or
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  Speaker 2: a quarter from trading, and some of them have made
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  Speaker 2: millions as a result. They all take one or two
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  Speaker 2: trades a week. I don't care how much you love trading.
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  Speaker 2: At some point you have to have a cutoff time.
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  Speaker 2: And for me, I can see if you're not trading
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  Speaker 2: from eight thirty to nine thirty and then stopping and
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  Speaker 2: then trading the last hour of the close, if you're
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  Speaker 2: trading at eleven fifteen or twelve forty five, whatever lie
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  Speaker 2: you tell, I know you're lying. You're not making a
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  Speaker 2: lot of money because you're giving it away. Have a
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  Speaker 2: separate laptop to be able to watch the market on
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  Speaker 2: like on my Apple laptop, I don't have Ninja Trader.
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  Speaker 2: I have it on my desktop at home and on
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  Speaker 2: my Black Trading computer. On the laptop I'm on that,
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  Speaker 2: I can just watch the market and I can place investments.
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  Speaker 1: The biggest mistake that people are.
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  Speaker 2: Making is being in the market too much with their
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  Speaker 2: account open. You need one to two trades a week
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  Speaker 2: otherwise you deserve to be broke. And don't argue with
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  Speaker 2: me saying that, Oh I disagree, because when you go
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  Speaker 2: look at that p and l over a quarter or a
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  Speaker 2: year of the year, you're negative. Less is more, But
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  Speaker 2: you can do what you want. I choose to be
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  Speaker 2: rich back in.
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  Speaker 1: My ghost live back to you, Trumer Shot choose to
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  Speaker 1: be rich. We are going to Mike.
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  Speaker 3: I'm gonna switch my micf just bring us back in because.
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  Speaker 1: Apparently we're not. Now it's time to be devious. Swing
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  Speaker 1: trading typically no all jokes aside.
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  Speaker 2: If you are over trading, figure out a way to
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  Speaker 2: hit your goal by taking one to two trades a
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  Speaker 2: week and then stopping at four months or five months.
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  Speaker 2: You don't need to trade twelve months out of the year.
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  Speaker 1: I think it's a mistake.
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  Speaker 2: You end up getting burned out if you trade twelve
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  Speaker 2: months in a row. Figure out how to hit your
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  Speaker 2: goal by trading one to two times a week for
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  Speaker 2: four or five months, and then having a season off
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  Speaker 2: where you end up stopping.
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  Speaker 1: Hey, man, we how are we doing that? We sound better? Okay,
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  Speaker 1: now we're back.
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  Speaker 3: Yeah, yeah, yeah, I said, I brought off the soup
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  Speaker 3: for nothing new. We ain't going out like that, you
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  Speaker 3: know what I'm saying. So it was, y'all this t
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  Speaker 3: one was the theme of the last month.
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  Speaker 1: Yeah, I think, y'all you do. But guess what the
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  Speaker 1: traffic bad at the airport bad. You brought all the
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  Speaker 1: people to Atlanta. Shouts to the city of Atlanta. I
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  Speaker 1: love you.
• 3:00
  Speaker 3: Somebody somebody walked up me and said, you know what
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  Speaker 3: my code is. There's a solution for all of it.
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  Speaker 3: And there's always a solution for all of that.
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  Speaker 1: So we back. We're back.
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  Speaker 3: I'm gonna give my my trading tip real quick and
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  Speaker 3: it will move on to the next thing. Man, all right, So,
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  Speaker 3: and this is important, and I like what you said
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  Speaker 3: about not trading in certain settings. Right, you said you
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  Speaker 3: got a specific computer. I don't like trading on my phone.
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  Speaker 3: I feel like I'm more effective.
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  Speaker 1: When I got my set up.
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  Speaker 3: I'll do it every now and then. But if I
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  Speaker 3: had a preference, it would be with my map book,
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  Speaker 3: with my screen, going through all the research before I
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  Speaker 3: make that decision.
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  Speaker 1: So I like that you said that.
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  Speaker 3: There's a lot of people like, oh, shout out to
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  Speaker 3: our team. We got some guys, who are you involved
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  Speaker 3: in some short term trading, and so they're like, I'm
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  Speaker 3: in the car, shout out to them. But I like,
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  Speaker 3: probably be in the setting of my home, in front
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  Speaker 3: of my computer where I'm supposed to be focused.
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  Speaker 1: But mine's is this, man.
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  Speaker 3: Time doesn't eliminate risk, but investing is one of the
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  Speaker 3: best ways to survive.
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  Speaker 1: So it's kind of right. You got to think about
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  Speaker 1: it's in the same alignment. Yep, it's in the same alignment. Man.
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  Speaker 3: The most valuable asset in investing is time. We saw
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  Speaker 3: it happened at a grand scale two weeks ago, right
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  Speaker 3: when we were talking about the Leopold scenario. Had he
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  Speaker 3: been given more time or had he he probably could
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  Speaker 3: have survived.
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  Speaker 2: Oh yeah, And also Sam banking the free stories, but
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  Speaker 2: if they had more es.
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  Speaker 3: Now, at a very micro scale, a lot of us
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  Speaker 3: are starting to feel like, hey, the market is moving
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  Speaker 3: in a downward trend. This is our opportunity to take
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  Speaker 3: more risk or we should be risk on And partially, yes,
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  Speaker 3: when people are fearful, you should be greedy. But at
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  Speaker 3: that same mindset, you should be giving yourself the maximum
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  Speaker 3: amount of time for that trade to actually for its
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  Speaker 3: own destiny. Right, So if you're in options, this is
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  Speaker 3: when you're gonna look out eighteen months, two years. You
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  Speaker 3: have to have that mindset and you have to be
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  Speaker 3: patient inside that mindset. So please, please just remember that
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  Speaker 3: it doesn't eliminate all risks, but it helps you survive,
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  Speaker 3: and that's the key man surviving the next day.
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  Speaker 2: Rashard has been invested that Like I know, he don't
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  Speaker 2: want to say it because he's getting this humble bag,
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  Speaker 2: but like the selection of trades that Rashad will do
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  Speaker 2: on the option side, I gotta give you a lot
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  Speaker 2: of credit for it. And it's really important that maybe
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  Speaker 2: you can speak to Rishat having other ventures going on
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  Speaker 2: so it doesn't cause you to overtrade some traders that
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  Speaker 2: don't have enough going on, and as a result, they
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  Speaker 2: end up spending all day in the market. What you're
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  Speaker 2: doing ends up being kind of productive. Can you talk
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  Speaker 2: about that a little bit, How being busy in other
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  Speaker 2: areas allows you to be really patient the trades that
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  Speaker 2: you take to give your high wind percentage, like in Microme.
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  Speaker 4: Yeah, for sure, you gotta be you know, you gotta
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  Speaker 4: have discipline, and then you also have to have other
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  Speaker 4: things going on, so you're not just totally relying on
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  Speaker 4: trying to hit a home run every single time. Balance
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  Speaker 4: your emotions, not do too much, not put too much
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  Speaker 4: of your portfolio at risk. I feel like whenever, it's
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  Speaker 4: like when they always say never never negotiate when you
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  Speaker 4: need money, or never if even if you need money,
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  Speaker 4: never act like you need money in the negotiation or
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  Speaker 4: when you're trying to get money or when you're trying
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  Speaker 4: to get a deal, because you can't really think clearly
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  Speaker 4: when you're in survival mode and you start to do
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  Speaker 4: irrational things when you really need something. Just in life
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  Speaker 4: in general, right, Like you see that having all the time,
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  Speaker 4: Like people will justify anything, like they'll justify committing crimes
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  Speaker 4: because it's like that's the biggest thing right and like
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  Speaker 4: rap music, go yo, I had to do what I
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  Speaker 4: had to do because I had to eat. Well, what
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  Speaker 4: does that really mean? Like you're going to kill somebody
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  Speaker 4: because you have to eat?
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  Speaker 1: Like you know what I mean.
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  Speaker 4: But if you in survival mode, you can you can't
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  Speaker 4: find a way to justify anything.
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  Speaker 1: The same thing with trading.
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  Speaker 4: If you in survival mode and trading is going to
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  Speaker 4: be like I need this money to pay my rent,
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  Speaker 4: then you also justified. Yeah, you could justify breaking all discipline.
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  Speaker 4: You can justify doing things that don't make sense. You
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  Speaker 4: can you know, like you said, yes they during your presentation,
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  Speaker 4: pray ask God to get you out of the trade.
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  Speaker 4: And that's that's not how you want to go about it.
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  Speaker 4: You don't want to have to try to use this
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  Speaker 4: as a survival mechanism. That's important, don't because people do
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  Speaker 4: want to trade for a living and that that and
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  Speaker 4: you So what happened even in South Korea, people committed
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  Speaker 4: suicide when when they lost their life savings because they was.
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  Speaker 1: Double leverage, triple leverage.
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  Speaker 4: That they were replacing a level of income with just trading.
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  Speaker 4: So you can trade for income. But that's why we
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  Speaker 4: always teach about entrepreneurship. I think it's goes hands in hand.
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  Speaker 4: Business revenue comes in, that money gets invested, then you
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  Speaker 4: can trade. Like when you're only trading and that's the
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  Speaker 4: only source of revenue that you totally have. I think
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  Speaker 4: that that's I think that's actually pretty dangerous.
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  Speaker 2: You're still trading time for money. People say, well, I
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  Speaker 2: want my time freedom and I want to have an
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  Speaker 2: asset working. But now you're making less, and now your
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  Speaker 2: insurance premiums up through the roof and every other expent.
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  Speaker 2: Now you have a bunch of pressure on you. Like
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  Speaker 2: you said, most people don't survive. The biggest thing you
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  Speaker 2: can do to be a great trader to have a
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  Speaker 2: bunch of other revenue sources coming in.
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  Speaker 1: Like you said, I agree with thousand percent.
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  Speaker 4: Amen, So let's get into this investments recap and lessons
• 8:26
  Speaker 4: shot to everybody that was at invest Fest, Man, it
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  Speaker 4: was an impactful moment. Went from Thursday to Sunday, four days.
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  Speaker 4: Thursday was a youth a day and then we did
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  Speaker 4: the Locks event documentary at night. Then the after parties,
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  Speaker 4: Business had a party circle, CEOs had a party, and
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  Speaker 4: then Friday was all day workshops and seminars and the
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  Speaker 4: vend the marketplace was open, and then Saturday full day
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  Speaker 4: the panels and then Sunday. So, man, it's too much
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  Speaker 4: to actually recap. We can have a whole show about
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  Speaker 4: the ree cap, but I'll just say a couple of
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  Speaker 4: highlights for me. I think the Locks documentary was really
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  Speaker 4: dope way to kick off the weekend Thursday night. Those
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  Speaker 4: guys are people that we knew forever pretty much, but
• 9:14
  Speaker 4: it was dope to hear their story told through their eyes.
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  Speaker 4: They stayed to watch it. Kiss was making commentary throughout
• 9:21
  Speaker 4: the movie. It was a really good It was a
• 9:24
  Speaker 4: really good dope moment that was That was super dope.
• 9:27
  Speaker 4: Black Tie Gala is the one that's the one that's
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  Speaker 4: the new thing.
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  Speaker 1: That's the new thing, Lord Black.
• 9:38
  Speaker 4: Yeah, the black Tie Gala, that's the one that is
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  Speaker 4: going to have that has a lot of potential. Man,
• 9:45
  Speaker 4: there was so many people there. It was so much vibe.
• 9:49
  Speaker 4: It was They stayed till three o'clock in the morning.
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  Speaker 4: Actually it turned into a club.
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  Speaker 1: It was. It was unbelievable. Jacket Edge went crazy.
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  Speaker 4: We had t We had Jamaine Dupree, we had Big
• 10:01
  Speaker 4: Bank in the building, Keisha and Lamb's bottom, Big Meach
• 10:04
  Speaker 4: pulled up with tuxedo on Legendary.
• 10:08
  Speaker 1: It was crazy black tie night. It was crazy. That's
• 10:11
  Speaker 1: gonna be no, no, no, that's this new staple for VP.
• 10:14
  Speaker 4: I think we found I think we found one with that.
• 10:17
  Speaker 3: I just got to just say this part that I
• 10:22
  Speaker 3: won't think everybody that showed up, because we kind of
• 10:25
  Speaker 3: was saying like somebody might try to wear the T
• 10:28
  Speaker 3: shirt or wear the sneakers. And when I walked in
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  Speaker 3: and I looked around, I said, my god, look how
• 10:35
  Speaker 3: good we look, like, Look how good we all look
• 10:39
  Speaker 3: when we just follow a thing like this is the thing.
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  Speaker 3: The event was incredible. Seeing everybody dressed with tea was incredible.
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  Speaker 3: But when it that the programming ended and we went
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  Speaker 3: into that back room, bro for the first time in
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  Speaker 3: a long time, I saw people enjoying themselves at a party.
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  Speaker 3: I don't know the last time I saw people dancing
• 11:01
  Speaker 3: having fun. There was a dance battle. I looked in
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  Speaker 3: the middle of who it was and it was Matt's kids.
• 11:07
  Speaker 1: Shout out to MG. They kicked off the dance battle.
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  Speaker 3: People would enjoy themselves and I was just standing there smiling,
• 11:14
  Speaker 3: just thinking to myself, Damn, I really missed this, and
• 11:17
  Speaker 3: this is all before swagsurfing that's happened. You know when swagsurfing,
• 11:20
  Speaker 3: that's like, that's gonna be. There was a soul train line,
• 11:25
  Speaker 3: there was a swagsurf, the electric slide happened. Everybody's dressed
• 11:30
  Speaker 3: to the tea and it's I'm like, yo, this is
• 11:32
  Speaker 3: what opulence and excellence looks like. I just got to
• 11:35
  Speaker 3: get that little part off because it was so beautiful.
• 11:38
  Speaker 3: The way I just smiled was my foot my feet
• 11:40
  Speaker 3: was hurting, but I was just so happy to see
• 11:43
  Speaker 3: us celebrating each other because of what this week on
• 11:45
  Speaker 3: was gonna be.
• 11:45
  Speaker 4: I got man as I'm talking about big meat. Southwest
• 11:50
  Speaker 4: Teachers text us Salute to the guys. Okay, PfP night
• 11:56
  Speaker 4: Crazy T Jagged Edge, Kenny Burns