Latest / Earn Your Leisure / Cliff Notes: STOCK TRADING FOR BEGINNERS
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- 0:00Speaker 1: You just realized your business needed to hire someone yesterday.
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- 0:57Speaker 1: all you need.
- 0:58Speaker 2: Less than one Please write this down everything I'm going
- 1:02Speaker 2: for ninety one at night. The risk to reward ratio
- 1:04Speaker 2: is everything. I wish I could have had my brother on,
- 1:07Speaker 2: but I took up about an hour and a half
- 1:09Speaker 2: of this time on a star club call, and at
- 1:11Speaker 2: one point he was in the AMC trade and he
- 1:15Speaker 2: was down eleven thousand dollars. But remember I told you guys,
- 1:18Speaker 2: risk reward is always everything. You either want to risk
- 1:21Speaker 2: one dollar to make five write that down. You either
- 1:24Speaker 2: want to risk one to make ten, one to make
- 1:27Speaker 2: twenty five, one to make fifty, or one to one hundred.
- 1:31Speaker 2: A lot of times we will get down in the trade.
- 1:32Speaker 2: And then, of course I was listening to the episode
- 1:35Speaker 2: that you guys had with trapping Trap. Is like, hey man,
- 1:37Speaker 2: sometimes in one of my trades, I may be up
- 1:39Speaker 2: sixty grand and some days I may be only up
- 1:42Speaker 2: eighteen one hundred. The thing that allows us to stay
- 1:45Speaker 2: in the trade is that you have to know what
- 1:47Speaker 2: the risk to reward parameters that you are using beforehand,
- 1:52Speaker 2: so you know when to get in and when to
- 1:54Speaker 2: get out. So that's number one less than number two.
- 1:57Speaker 2: Everyone was asking what did he start with? But the
- 2:00Speaker 2: thing that he wanted to stress to everyone it doesn't
- 2:02Speaker 2: matter what you start with. You just have to start.
- 2:05Speaker 2: I'm gonna be honest. I know some of you have
- 2:07Speaker 2: been watching the show since last year and you have
- 2:08Speaker 2: not taken your first trade yet or your first investment.
- 2:11Speaker 2: Why I've given you every good stock on the planet,
- 2:15Speaker 2: every bad one, and the three that I man messed
- 2:17Speaker 2: up on I've said, hey, man, I messed up my
- 2:20Speaker 2: bat and made up for it. You have to get started.
- 2:23Speaker 2: Lesson number three, stop hesitating and take the trade. And
- 2:27Speaker 2: I'm gonna just say this humbly and respectfully, especially when
- 2:30Speaker 2: I call it. Some of you should know my body
- 2:32Speaker 2: language and mannerisms enough when something is going to take off,
- 2:37Speaker 2: take the trade. Don't hesitate. Do your own research. Even
- 2:42Speaker 2: if we have a parabolic move to the upside and
- 2:44Speaker 2: we slide back down and there's another chance to get in.
- 2:47Speaker 2: Usually on here I will call out where, and then
- 2:50Speaker 2: for those of you ask questions tonight, please have four
- 2:52Speaker 2: or five stocks that you want to ask about tonight
- 2:54Speaker 2: so I can be able to help you. Lesson number four,
- 2:57Speaker 2: Master the craft. This is most important. It took him
- 3:00Speaker 2: eleven months of practice with frustration, and he's married. So
- 3:05Speaker 2: fellas you know how it is if you got a
- 3:06Speaker 2: significant other or you're married, you're working on something and
- 3:09Speaker 2: it doesn't produce results. The significant others like, yo, what
- 3:12Speaker 2: are you doing wasting time? You could be working on
- 3:14Speaker 2: something else. It took eleven months. Let me ask you this,
- 3:18Speaker 2: But would you practice and learn how to trade for
- 3:21Speaker 2: ten months or eleven months to then turn around while
- 3:24Speaker 2: on vacation to make two hundred and eighty two thousand
- 3:27Speaker 2: dollars in a matter of days. Put yes and no
- 3:29Speaker 2: in chat master the craft. This is a business. Some
- 3:34Speaker 2: kids work on going to the NBA for nineteen years
- 3:37Speaker 2: of their lives, twenty years of their lives. A lot
- 3:39Speaker 2: of people go to school for twelve years. You're telling
- 3:41Speaker 2: me you can't take eleven months, twelve months, eighteen months,
- 3:46Speaker 2: sixty months to master craft in which you can make
- 3:49Speaker 2: money on demand. I'm telling you it is absolutely worth it.
- 3:53Speaker 2: Number five, you have to learn how to trade to
- 3:56Speaker 2: be a better investor. So for my long term investor,
- 4:00Speaker 2: this is the gap that you have to close. And
- 4:02Speaker 2: this is the sweet spot that I saw. I noticed
- 4:05Speaker 2: most investors did not know how to trade well, and
- 4:08Speaker 2: most traders don't know how to invest. So I was like,
- 4:11Speaker 2: let me take Warren Buffett, Peter Lynch's model and blended
- 4:14Speaker 2: will part two the Jones Road in one. And when
- 4:17Speaker 2: you are a good trader, you're able to get better
- 4:20Speaker 2: entries long term. Then you have to become a better
- 4:24Speaker 2: investor to be a better trader to all my traders.
- 4:27Speaker 2: Get off of the five minute, get off of the
- 4:29Speaker 2: one minute. It is a losing parameter. Go to a
- 4:32Speaker 2: higher timeframe. And here's the thing. I've always said it.
- 4:35Speaker 2: The cheat code is if you wake up and you
- 4:36Speaker 2: see that Nasdaq is up a ton, if you're invested
- 4:39Speaker 2: in it, or the S and P five hundred is up,
- 4:41Speaker 2: you generally know what the market is going to do
- 4:43Speaker 2: for that day. So if you're already long term investing
- 4:46Speaker 2: and gives you a cheat code to know what to
- 4:48Speaker 2: do in try day less than number seven. Twelve trades
- 4:52Speaker 2: per year. Everybody on here, Earner's Bread Panda Family, everybody
- 4:56Speaker 2: on YouTube, twelve trades per year. Here's the thing. Once
- 5:01Speaker 2: you start to bleed to thirty sixty eighty trades, if
- 5:03Speaker 2: you're not using the algorithm, you have a high probability
- 5:06Speaker 2: of losing. Who in here thinks they can win ten
- 5:08Speaker 2: out of twelve trades or nine out of twelve trades
- 5:11Speaker 2: most here can. But you hear so much noise, which
- 5:15Speaker 2: if talk is cheap, those that are debating are trying
- 5:19Speaker 2: to keep you from getting real money. All you need
- 5:22Speaker 2: is twelve good trades for the year. To make a
- 5:24Speaker 2: significant impact on your life less than eight asymmetric risk
- 5:29Speaker 2: to reward And I'm going to bring it up again later.
- 5:33Speaker 2: But asymmetric risk to reward is everything. Indicators are not
- 5:39Speaker 2: the things that matter most. Everyone's always talking about indicators
- 5:43Speaker 2: RSI stochastic moving averages v WOP. That's if that was
- 5:48Speaker 2: the secret, everyone that used emas or SMAs would make
- 5:51Speaker 2: a lot of money. This is it risking one to
- 5:55Speaker 2: make twenty five. So I want you to be dedicated
- 5:57Speaker 2: for the next year. Write in chat right now, if
- 5:59Speaker 2: you are putting one dollar risk on the table, how
- 6:02Speaker 2: much are you looking to earn it? Every trade, every earner,
- 6:06Speaker 2: I need you to reply. Every Red Panda member, I
- 6:08Speaker 2: need you to apply, especially dream team, because once you
- 6:11Speaker 2: know that if you lose three trades in a row,
- 6:13Speaker 2: you won't be that shack in. If you know that,
- 6:18Speaker 2: you but if you don't know your wrist to reward,
- 6:20Speaker 2: you'll be in a lot of danger. Later. I want
- 6:22Speaker 2: to point out to moderna is a five hundred and
- 6:24Speaker 2: thirty five percent since the launch the stock Club. We
- 6:26Speaker 2: gave it to you guys here for free for the culture.
- 6:29Speaker 2: So for all this, they're not for the culture. And
- 6:31Speaker 2: I'm tired of you guys fill well lined beards. Not No,
- 6:35Speaker 2: we gain it for free. If you have not got
- 6:37Speaker 2: into it, give me a couple weeks. I'll give you
- 6:39Speaker 2: guys another praise to get into it. Number nine, This
- 6:42Speaker 2: is key. In order to obtain freedom, you must endure
- 6:46Speaker 2: moments of bondage even when you're free. I won't get
- 6:50Speaker 2: into any one's personal business, but I'll be honest, we've
- 6:53Speaker 2: all had tough days when we still showed up here
- 6:55Speaker 2: when we probably shouldn't have. Freedom is not disillusion that
- 7:00Speaker 2: you just get to sail on the beach and live
- 7:02Speaker 2: the ig lifestyle. A lot of you who are saying
- 7:05Speaker 2: that you want to be free. In order to get free,
- 7:07Speaker 2: you have to be in bonds in terms of your
- 7:10Speaker 2: work schedule and building systems to get free. And once
- 7:14Speaker 2: you get free, guess what, there's more bonds that surround you.
- 7:18Speaker 2: That's what people want tell you. There's been plenty of
- 7:21Speaker 2: days when things are going on behind the scenes that
- 7:23Speaker 2: all of us probably should have walked away and taken
- 7:25Speaker 2: a day off. But we're still and we're not doing
- 7:27Speaker 2: a four pity party. But even when you become free,
- 7:31Speaker 2: the consistency and work ethic that you have, you're still
- 7:35Speaker 2: going to be bonded to if you want to continue
- 7:37Speaker 2: to remain free. I want to point this out, hot take.
- 7:40Speaker 2: Shopify is the eBay of this era, and Stripe is
- 7:43Speaker 2: a new PayPal. I'm going to sit in. Shopify is
- 7:47Speaker 2: to this era what eBay was in the ninety late
- 7:49Speaker 2: nineties early two thousands, and Stripe is a new PayPal.
- 7:52Speaker 2: So when Stripe IPOs, I know you guys are going
- 7:54Speaker 2: to ask, wait sixty days, but I think there will
- 7:56Speaker 2: be a dominant force in this space for a long time.
- 7:59Speaker 2: Number two, and this is so key for every trader.
- 8:02Speaker 2: Print out your trading charts analog. A great lesson that
- 8:06Speaker 2: I learned out of this book called Inside Apple Jim
- 8:11Speaker 2: to Buy. Steve Jobs planned everything in analog first, which
- 8:15Speaker 2: means he white boarded it out or wrote it out first,
- 8:17Speaker 2: and then planned in digital traders. When I know, I
- 8:22Speaker 2: know when I ask you, hey, eighteen weeks ago on
- 8:25Speaker 2: a Tuesday, how did your trades go? I know ninety
- 8:28Speaker 2: nine percent of people are not able to answer that question.
- 8:31Speaker 2: If you print out your trading charts every single day,
- 8:35Speaker 2: not only will you be able to see patterns a
- 8:37Speaker 2: lot clearer, you would be able to see the mistakes
- 8:39Speaker 2: that you made. And also you were probably entering higher
- 8:42Speaker 2: into the market if you were looking to buy, or
- 8:45Speaker 2: you were shorting too much lower than you initially expected.
- 8:49Speaker 2: Please print out your charts every single trading session, whether
- 8:53Speaker 2: he took a live trade or not. And here's a
- 8:56Speaker 2: great point that he pointed out when we're on a call.
- 8:59Speaker 2: He mentioned he lost out on sixty six thousand dollars
- 9:03Speaker 2: in additional games by being a patient. Put this in
- 9:06Speaker 2: chat and patience costs us profit. Either you jump into
- 9:10Speaker 2: a trade too late, too early, or you get into
- 9:13Speaker 2: a move. I feel everybody who bought Doze at sixty
- 9:18Speaker 2: gave you the levels and which to tell you, Hey,
- 9:20Speaker 2: this is resistance, this is support. You have to wait.
- 9:23Speaker 2: And this is why I always tell you guys, blocking
- 9:25Speaker 2: out the noise is so key. It's so key because
- 9:28Speaker 2: often a lot of the people that are telling you
- 9:30Speaker 2: to get into a move or man in drouvish, I
- 9:33Speaker 2: don't know what they talking about. They just don't want
- 9:34Speaker 2: nobody to get them erners, what's up.
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- 11:27Speaker 1: You just realized your business needed to hire someone yesterday.
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- 12:24Speaker 1: all you need back.
- 12:25Speaker 2: Guess what they're using you for their own liquidity to
- 12:28Speaker 2: get out of the trip. Yeah, I'm a bidoge just
- 12:30Speaker 2: sixty five, but they don't know nothing. I love har
- 12:32Speaker 2: market moneies, but I hate them today. Now I'm gonna
- 12:34Speaker 2: get it at at the top and then it falls apart.
- 12:36Speaker 2: Guess what those people are trying to get out of
- 12:38Speaker 2: those positions. Please be careful and I'll say this, you
- 12:41Speaker 2: need diamond hands for good assets, man. People have diamond
- 12:45Speaker 2: hands for some of the shittiest assets out there. And
- 12:48Speaker 2: the thing that I was stressing, so I was on
- 12:49Speaker 2: a trip and I'm like, I need you guys to
- 12:51Speaker 2: hold your trades longer. Here's the secret with long term
- 12:56Speaker 2: investment that applies to short term. The longer you hold
- 13:00Speaker 2: with your intra day trades, the more money you can make.
- 13:03Speaker 2: Some of you are holding trades for too short of
- 13:06Speaker 2: a period. And even if you're trading, and I said,
- 13:08Speaker 2: we'll talk about naked and AMC tonight. But some of
- 13:11Speaker 2: you are getting into the move and be like, damn,
- 13:12Speaker 2: I was in the trade for three minutes. If I
- 13:14Speaker 2: would have held it for hour, I would have made
- 13:16Speaker 2: fifteen twenty eight thousand. You need diamond hands for good
- 13:20Speaker 2: assets and good trades less than thirteen. Please let it
- 13:24Speaker 2: run for all of you that are trading futures. Please
- 13:27Speaker 2: let your trades run for at least thirty minutes to
- 13:30Speaker 2: two hours. You have specific targets, like if you went
- 13:34Speaker 2: into a job and let's say let's say you want
- 13:36Speaker 2: to go work for Eyo or Red Panda, and we
- 13:40Speaker 2: were like, hey man, we're gonna pay you two hundred
- 13:42Speaker 2: and twenty five thousand dollars a year for this job.
- 13:44Speaker 2: When you're not letting your trade run, that's like saying,
- 13:46Speaker 2: oh man, just pay me twenty eight thousand. I don't
- 13:48Speaker 2: need to twenty five. None of you would do that
- 13:50Speaker 2: in the job interview, But in your trades you'll have
- 13:53Speaker 2: a breakout move and be like, ah, let me just
- 13:56Speaker 2: take profit here when you can have a tremendous move,
- 13:59Speaker 2: or remember, only twelve great trades on the year can
- 14:02Speaker 2: make a difference for you, your family future, generations that
- 14:07Speaker 2: are coming after. And this ties in you don't want
- 14:11Speaker 2: to walk away from your trades because you don't want
- 14:14Speaker 2: to make real money. And I get it. I used
- 14:16Speaker 2: to self sabotage like crazy, I know, whether in trading
- 14:20Speaker 2: or in business. Another good book is called Secrets of
- 14:23Speaker 2: the Millionaire Mind by T. Harve Ecker. He always says,
- 14:26Speaker 2: whatever starts inside of your mind eventually forms yourself into
- 14:30Speaker 2: reality in your outside world. That's very true. I would
- 14:33Speaker 2: even have meetings i'plin and I hope they don't call.
- 14:35Speaker 2: I hope this meeting doesn't go through because I was afraid.
- 14:38Speaker 2: But once you get over that fear, I'm telling you,
- 14:42Speaker 2: life becomes a lot better when you don't sabotage. And
- 14:45Speaker 2: for those of you that are not walking away from
- 14:47Speaker 2: your trades, it is an active form of self sabotage.
- 14:50Speaker 2: Because we've all seen people that are not that good
- 14:53Speaker 2: of a trader, but they hit a hell of a
- 14:54Speaker 2: home run and then you're like, how the hell did
- 14:56Speaker 2: they make that trade? They let the trades sit a
- 14:59Speaker 2: little bit longer then we normally would. Let's number fifteen.
- 15:03Speaker 2: I'm going to say it again, please, if you learn
- 15:05Speaker 2: nothing else from me on the trading side. Know this,
- 15:08Speaker 2: risk to reward is more important than indicators. It doesn't
- 15:13Speaker 2: damn near matter what indicator you use. If you use
- 15:16Speaker 2: an indicator that is flawless. And I've known people that
- 15:19Speaker 2: have won ninety nine percent of their trades and ended
- 15:22Speaker 2: up negative. I know people that traded thirty percent and
- 15:25Speaker 2: they make between twenty and sixty thousand dollars a month.
- 15:28Speaker 2: It's all about risk to reward. If I'm risking one
- 15:31Speaker 2: dollar to make twenty five or one dollar to make
- 15:33Speaker 2: ten and you're risking one to make one dollar and
- 15:36Speaker 2: ten cent, who's going to win the battle? That's the
- 15:39Speaker 2: name of the game. Risk reward it is more important
- 15:43Speaker 2: than indicators. I mean ask you this for all my traders.
- 15:47Speaker 2: Do you have your trading plan in front of you
- 15:49Speaker 2: every day? Why trading? And do you never deviate from it?
- 15:54Speaker 2: I know everybody say, what the trading plane is great?
- 15:57Speaker 2: Three wednesdays from now, how many points will you go for?
- 16:00Speaker 2: Or is it off day? Is it a research day,
- 16:03Speaker 2: is it a film day? Another gym? You need to
- 16:05Speaker 2: record every live trading session, whether you trade or not,
- 16:09Speaker 2: because then what's gonna happen is you're gonna have a
- 16:12Speaker 2: breakdown or a day on which we drop a lot
- 16:15Speaker 2: based off news and some report comes out and it's
- 16:17Speaker 2: gonna repeat that same kind of cycle, and you're gonna
- 16:20Speaker 2: be like, damn, this is the move that happened in November.
- 16:22Speaker 2: For me. One of the hardest crashs that I first
- 16:25Speaker 2: saw I made a lot of money on. It was
- 16:26Speaker 2: August twenty fourth, twenty fifteen. I remember the weekend prior.
- 16:30Speaker 2: That's a Monday. The Friday prior, I remember the market
- 16:32Speaker 2: sliding down like crazy, and the Sunday I was flying
- 16:35Speaker 2: to Denver. I remember being on the train seeing the
- 16:37Speaker 2: nik slide and then es follow. When you see moves
- 16:40Speaker 2: like that, they get embedded in your brain. That same
- 16:43Speaker 2: move from August twenty fourth to twenty fifteen prepared me
- 16:46Speaker 2: for the slide of March of twenty twenty. The market
- 16:49Speaker 2: repeats itself, it's not the exact same. Shout out to
- 16:52Speaker 2: my trades. If you've ever seen a breakdown move and
- 16:54Speaker 2: then you've seen to repeat itself a year or two later.
- 16:57Speaker 2: You have to have your trading plan in front of
- 16:59Speaker 2: you every every single day, and do not deviate from
- 17:02Speaker 2: it less than seventeen shot. Selection is everything, and I
- 17:06Speaker 2: will say this on a call. Arguably, with the exception
- 17:09Speaker 2: of Range, Westbrook and Dame Lillard have the same heart.
- 17:14Speaker 2: They're built from the same kind of player. They're both
- 17:17Speaker 2: Iverson esque. What's the difference between the two shot selection?
- 17:23Speaker 2: I love Russ with all my heart. Russ does not
- 17:26Speaker 2: have as good as shot selection as Dame. Same thing
- 17:30Speaker 2: and trading. Some of you can trade your asses off,
- 17:32Speaker 2: but guess what, you take too many trades, seven trades
- 17:35Speaker 2: in the day, or the emotions kick in and you're
- 17:38Speaker 2: trading too much size and the middle of the day,
- 17:42Speaker 2: stay away from that zombie dead zone hour like after
- 17:45Speaker 2: eleven o'clock to one, there's nothing to do. If you're
- 17:50Speaker 2: trading the S and P five hundred down product nasdak product.
- 17:53Speaker 2: You need to look at the first hour and be done,
- 17:56Speaker 2: and then look at the clothes you're trading at twelve
- 17:58Speaker 2: o'clock twelve thirty, you're going to get chopped up. Please
- 18:01Speaker 2: type this shot selection is everything. And if I'm looking
- 18:04Speaker 2: from a competitive landscape, a lot of you can trade
- 18:07Speaker 2: very well, but I know you won't wait for the
- 18:09Speaker 2: right shot. All of us did have played ball. We
- 18:12Speaker 2: know the one guy. If we swing the ball and
- 18:14Speaker 2: we skip it to the corner. He's going to shoot
- 18:16Speaker 2: that ball. If nine people on him, he doesn't care
- 18:18Speaker 2: because he just want to get a shot off. Look
- 18:20Speaker 2: at the Mayweather fight last night. It was not the
- 18:22Speaker 2: most entertaining the first round. Look how selective he was
- 18:26Speaker 2: and attacking Paul, and even though Paul doesn't have enough
- 18:31Speaker 2: punch and power to knock him out per se, he
- 18:33Speaker 2: still respected what could happen? Please know shot selection is
- 18:37Speaker 2: everything less than eighteen. Please write this down. You cannot
- 18:40Speaker 2: overtrade your way to freedom. And this is from a
- 18:43Speaker 2: person me who used to take fourteen to twenty trades
- 18:46Speaker 2: in the day in sixteen twenty seventeen. And the days
- 18:50Speaker 2: in which they were great, old baby, you couldn't tell
- 18:53Speaker 2: me nothing. And the days that I lost all, I
- 18:56Speaker 2: was so upset. You could not tell me nothing. You
- 19:00Speaker 2: cannot overtrade your way to freedom. That is another mechanism
- 19:03Speaker 2: or another action and self sabotage. And I'll tell you
- 19:07Speaker 2: this options crash, cryptos crash, nft S crash. We've given
- 19:12Speaker 2: you the blueprint two tech to index and trade futures.
- 19:17Speaker 2: That is the blueprint Episode seventy Classic Shauto wind triple
- 19:20Speaker 2: If you have not heard it. I give the entire
- 19:22Speaker 2: blueprint there. Please master your craft. And I want to
- 19:27Speaker 2: say this from a perspective for business owners. Like when
- 19:29Speaker 2: I approached Troy Rashad like Yo, episode seventy was dope,
- 19:32Speaker 2: we should do a show. My entire strategy was to
- 19:35Speaker 2: give everything away to show people, Hey, I wanted the
- 19:38Speaker 2: best to do this for those of you that are
- 19:41Speaker 2: looking to build your brand, because I see a lot
- 19:43Speaker 2: of you want to get into the space. The only
- 19:46Speaker 2: thing that separates you from everyone else is your ability
- 19:49Speaker 2: to help others win. So you want to build a base.
- 19:53Speaker 2: You always can team up, but give your picks away
- 19:55Speaker 2: and if you get results, people will follow you. And
- 19:58Speaker 2: I want to say this. I want to say this
- 20:02Speaker 2: and leave it up on the screen. I'm gonna say
- 20:05Speaker 2: for those of us that are here given value, if
- 20:07Speaker 2: we have made you money on this show, please put
- 20:10Speaker 2: yes in chat because I'll argue that we have probably
- 20:14Speaker 2: the best investing show on the planet and we need
- 20:18Speaker 2: some more likes to to match these views, and we're
- 20:21Speaker 2: outperforming everybody by a mile, but we may not get
- 20:23Speaker 2: the same credit. And if we've been a superhero to you,
- 20:26Speaker 2: just put yes in chat. In Superhero and I love
- 20:29Speaker 2: y'all so much. I think I know why we won't
- 20:31Speaker 2: always get the credit, but we are the culture. I'm
- 20:34Speaker 2: happy to have been able to serve you. And if
- 20:36Speaker 2: you enjoy these lessons tonight, please let me know love
- 20:39Speaker 2: you over note my graduates from my school being forced
- 20:45Speaker 2: back drop drop.
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