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"YOU CAN’T TRADE STOCKS IF YOU’RE SCARED — GROW SOME BALLS!" · Earn Your Leisure

• 0:01
  Speaker 1: This episode is brought to you by P and C Bank.
• 0:03
  Speaker 1: A lot of people think podcasts about work are boring,
• 0:06
  Speaker 1: and sure they definitely can be, but understanding of professionals
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• 0:14
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• 0:18
  Speaker 1: It might seem boring to save, plan and make calculated
• 0:21
  Speaker 1: decisions with your bank, but keeping your money boring is
• 0:24
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• 0:27
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• 0:39
  Speaker 1: National Association Member FDIC.
• 0:43
  Speaker 2: What about the trading tip of the week?
• 0:46
  Speaker 1: What's the trading tip of the week for.
• 0:48
  Speaker 2: My futures traders? I want to be very honest and
• 0:50
  Speaker 2: say I want you guys to have less fear and
• 0:53
  Speaker 2: more kahunas. The thing I do love about the options
• 0:56
  Speaker 2: market is that people who just started options trading there
• 1:01
  Speaker 2: like eight contracts and they're gonna hold. Meanwhile, futures traders
• 1:05
  Speaker 2: play it too small. So a target that I love
• 1:08
  Speaker 2: is thirty two three contracts go for forty two tips
• 1:11
  Speaker 2: on the S and P five hundred. That's a little
• 1:13
  Speaker 2: bit over ten points. That should put your like over
• 1:16
  Speaker 2: seventeen grand per trade, and if you get two or
• 1:18
  Speaker 2: three of those in a month, you'll be a okay.
• 1:21
  Speaker 2: But in lesson for this week, you have to learn
• 1:24
  Speaker 2: when to put on size. You can't play the one
• 1:27
  Speaker 2: to four contract game forever because you're going to miss
• 1:31
  Speaker 2: your window of actually making real money that can change
• 1:35
  Speaker 2: your life that you can then put into the market
• 1:36
  Speaker 2: or buy an amazing property like Rasha did on a discount.
• 1:41
  Speaker 2: You have to have enough cash flow to be able
• 1:43
  Speaker 2: to do so. So thirty three contracts is a target.
• 1:45
  Speaker 1: I love.
• 1:46
  Speaker 2: Go for forty two tips. You'll be a seventeen and
• 1:48
  Speaker 2: some change per trade. Do that three times a month
• 1:50
  Speaker 2: and you'll be okay. But have some balls to trade.
• 1:53
  Speaker 1: Have some clueunds. I'm with you, you do uh, I'm all
• 1:55
  Speaker 1: about the mitigative risks. But yeah, having two contracts go
• 1:59
  Speaker 1: to a thousand sucks when you get ahead like five, right,
• 2:02
  Speaker 1: it's just about yeah, you got to have to cap on.
• 2:05
  Speaker 1: I just want to add to this because I've been
• 2:07
  Speaker 1: I've been having a conversation with people. Especially since the
• 2:10
  Speaker 1: last options class about emotional intelligence, I feel like that
• 2:13
  Speaker 1: that's overall the theme that has just been coming back
• 2:16
  Speaker 1: into my conversations is the emotional intelligence in life that's necessary, right,
• 2:21
  Speaker 1: to navigate through the world, to navigate through relationships, to
• 2:24
  Speaker 1: navigate through business, you need to have it. Investing it
• 2:27
  Speaker 1: it's also needed, right, So, like when we see when
• 2:31
  Speaker 1: we have volatility like we did two weeks ago, like,
• 2:33
  Speaker 1: how are you reacting to that? Like? What? How how
• 2:36
  Speaker 1: do you feel when you see your account go down?
• 2:39
  Speaker 1: It draws down because the entire stock market went down?
• 2:41
  Speaker 1: Are you moving right? Are you budgeting? Are you selling?
• 2:44
  Speaker 1: Like a lot of people that some people I shouldn't
• 2:46
  Speaker 1: say a lot. Some people will sell. Some people will say, oh,
• 2:48
  Speaker 1: we've been here before. Some people this is their first
• 2:50
  Speaker 1: time and they're like, hey, there's no way to start
• 2:52
  Speaker 1: my investing journey. Right. But this is why we always
• 2:55
  Speaker 1: talk about long term. This is always why we talk
• 2:57
  Speaker 1: about by time, because when you buy time, you're buying
• 3:00
  Speaker 1: into it. The volatility of the market you can't control that.
• 3:03
  Speaker 1: We had this conversation the other day. I'm like, yo,
• 3:05
  Speaker 1: we made an investment. I'm like, look, we got time.
• 3:07
  Speaker 1: We got we got some time. When I hear the
• 3:09
  Speaker 1: market now it's a strong company. We got to really
• 3:12
  Speaker 1: believe in the company. Believe in the research. It's like
• 3:15
  Speaker 1: have emotional discipline. But when you do your research, have
• 3:19
  Speaker 1: conviction in it. Trust what you what you did, trust
• 3:22
  Speaker 1: what you did, and even if right it there's a
• 3:26
  Speaker 1: draw down or it hits that threshold, remember you had
• 3:29
  Speaker 1: your plan. Right, if it was some people fifty percent,
• 3:33
  Speaker 1: all right, well yeah, get back and there'll be another opportunity.
• 3:38
  Speaker 1: If you believe in that, if you trust the research
• 3:40
  Speaker 1: that you've done, have conviction, but have the emotional talents
• 3:43
  Speaker 1: to say, you know what, I understand what this feels like.
• 3:45
  Speaker 1: Because the day that you run up sixty percent, you
• 3:48
  Speaker 1: should feel the same exact way. Right, it should be
• 3:53
  Speaker 1: even killed, have your seat bolt on, trust the research,
• 3:56
  Speaker 1: trust what you're doing, and just be patient.
• 4:00
  Speaker 2: The feature side, like thirty three contracts for Nazek, it's
• 4:02
  Speaker 2: thirty three thousand es the sixteen thousand, five hundred. I'm
• 4:06
  Speaker 2: not saying it's a small chuck to change, but I
• 4:08
  Speaker 2: know some people who are doing one hundred thousand dollars
• 4:11
  Speaker 2: elsewhere and getting nine percent, and it's like if you're
• 4:14
  Speaker 2: able to get you to four hundred percent inside of
• 4:16
  Speaker 2: a trade or two at some point. No, when to
• 4:19
  Speaker 2: put on risk if you have your long you have
• 4:22
  Speaker 2: to have your long term porfolio set up first. And
• 4:24
  Speaker 2: even with this drop has happened, if you've bought in March,
• 4:28
  Speaker 2: in April and last year, you should still be up
• 4:31
  Speaker 2: a tremendous amount. Now you can put on some risk
• 4:35
  Speaker 2: and if the market's falling to the downside and you're short,
• 4:38
  Speaker 2: and you should be up even more. Six to your
• 4:41
  Speaker 2: game plan. You like to the market, Hell yeah when
• 4:46
  Speaker 2: it's falling, and it's a great lesson. Only short when
• 4:49
  Speaker 2: the market is falling and go long when it's going up.
• 4:51
  Speaker 2: That's why I say you have to obey direction. Look
• 4:53
  Speaker 2: at that month, week, then day. Obey it always. But
• 4:57
  Speaker 2: when the market is falling, the market is going to
• 4:59
  Speaker 2: fall fast. In the caras got to take advantage of it.
• 5:02
  Speaker 1: I'm just not only in futures's for sure. I've just
• 5:06
  Speaker 1: never I've never been a big put guy. It's probably
• 5:11
  Speaker 1: not worth the risk.
• 5:12
  Speaker 2: But the futures market is evenly weighted because they only
• 5:16
  Speaker 2: care about the transaction and liquidity inside of it, So
• 5:19
  Speaker 2: you're getting in and out inside of a day anyway,
• 5:22
  Speaker 2: So you're just playing the true direction.
• 5:23
  Speaker 1: Yes, I say in the market makes a lot of sense.
• 5:25
  Speaker 1: Is I just don't have the around so much. And
• 5:30
  Speaker 1: like I said, volatility happens puts And if people do that,
• 5:33
  Speaker 1: great you can make money both ways. Right when the
• 5:35
  Speaker 1: market goes up, you can make it on calls. You
• 5:37
  Speaker 1: can make it on puts on the way down.
• 5:38
  Speaker 2: Great.
• 5:39
  Speaker 1: If you're skilled at that, great, If that's your strategy, great.
• 5:41
  Speaker 1: I just never have been big on it.
• 5:44
  Speaker 2: There's no reason to go short an asset that normally
• 5:47
  Speaker 2: goes long. Michael Burry, I love you dealing, but there's
• 5:52
  Speaker 2: no reason to continually short an asset that goes Yeah.
• 5:57
  Speaker 1: Yeah, speaking of that, yeah, an asset that goes up? Ernerds,
• 6:02
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• 6:34
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