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Cliff Notes: THE KEYS TO BUILD WEALTH · Earn Your Leisure

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  Speaker 2: And this is a great gym that I need you
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  Speaker 2: guys to hear from your legendary Tim Grober.
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  Speaker 3: The greatest inner circle individuals are so small. Distance becomes
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  Speaker 3: their best friends since from their competition, okay, distance from others.
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  Speaker 3: Everyone tries to fit into a group. Okay, you're growing up.
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  Speaker 3: Want to be part of this fraternity. I want to
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  Speaker 3: hang out with these people. I want to hang out
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  Speaker 3: over here. Who do you iidlize the most, the ones
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  Speaker 3: that stand alone, the ones that create distance between you
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  Speaker 3: and the competition and everybody else. Okay, you have all
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  Speaker 3: your friends that they may have all started off together,
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  Speaker 3: and what happens is when they know they can't keep up. Okay,
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  Speaker 3: you create distance. You want them to come with you,
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  Speaker 3: but they don't have the ability to, they don't have
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  Speaker 3: the discipline, they don't have the sacrifice. So distance has
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  Speaker 3: to become your best friend in order for you to
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  Speaker 3: achieve the best at what you want to do. I
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  Speaker 3: know these are completely different thoughts than when other people
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  Speaker 3: tell what other people tell you surround yourself the positive people,
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  Speaker 3: you know what that means. That means life face so
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  Speaker 3: I can feel good about myself.
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  Speaker 2: And I don't want you to cut off all of
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  Speaker 2: your friends on this journey because we'll see those posts
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  Speaker 2: a cut off the five people like you have to
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  Speaker 2: keep your friends that are your day ones that have
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  Speaker 2: been supportive. But a lot of times we want support
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  Speaker 2: to go to where we need to go, but.
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  Speaker 4: We don't want to do it alone.
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  Speaker 2: That's why when you guys are like, hey, I need
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  Speaker 2: an accountability party, I'm like, no, you need to be
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  Speaker 2: accountable because if your trading buddy makes a three hundred
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  Speaker 2: thousand dollars trade with you, they're not going to split
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  Speaker 2: half that money with you. I'm telling you that this
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  Speaker 2: is the reason why most people fail. I thought this
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  Speaker 2: message was absolutely amazing.
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  Speaker 5: The reason most people fail is because they give up
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  Speaker 5: what they want most for what they want now. The
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  Speaker 5: reason most people fail is because they give up what
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  Speaker 5: they want most for what they want now. If that
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  Speaker 5: was one message, it'd probably be that, like people don't
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  Speaker 5: fail because they're not talented or skilled or whatever.
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  Speaker 4: It's like, you give up what you want most for
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  Speaker 4: what you want now.
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  Speaker 2: And how many of us have ever given up what
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  Speaker 2: we truly want for the short term?
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  Speaker 4: We all have.
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  Speaker 2: Let's make the adjustment going forward. It's twenty twenty one,
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  Speaker 2: it's crazy. In nine years, will be in a new decade,
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  Speaker 2: twenty ten to one. By so fast, Let's make the
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  Speaker 2: choice to be dedicated and not give up the long
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  Speaker 2: term goal for the short term and then for many
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  Speaker 2: your twenties, let your uncles and give you some advice.
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  Speaker 2: Check these tips out real quickly. We'll get back to
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  Speaker 2: the investment gyms.
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  Speaker 6: If you can give one piece of advice to a
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  Speaker 6: guy in his early twenties, what would it be. Do
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  Speaker 6: not move out of your parents' house until you've saved
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  Speaker 6: up at least twenty five grand make friends and don't date,
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  Speaker 6: don't date, travel, move out of your hometown, get very
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  Speaker 6: acquainted with a primary care professional, get a therapist, buy
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  Speaker 6: a gun, and get really good at using it. Get
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  Speaker 6: a passport and get really good at using it. Go
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  Speaker 6: to a gym and work for an eight pack. You
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  Speaker 6: really have nothing but time. Pick up a sport and
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  Speaker 6: get good at it. Stop eating like a damn ninja turtle.
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  Speaker 6: Drink water, wash your ass daily. Buy three suits, a black, one,
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  Speaker 6: navy blue, heather gray. Each one should be tailored. Buy
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  Speaker 6: life insurance. The younger you are, the cheaper it is.
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  Speaker 6: Most importantly, find and protect your peace. Remember that you
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  Speaker 6: were a man before her, you were a man with her,
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  Speaker 6: and now you'll be a man without her.
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  Speaker 1: Good luck.
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  Speaker 4: No Kevin Samuels, but fellos, go ahead. I'll put this.
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  Speaker 2: I want to be on a record for this, and
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  Speaker 2: there's gonna be solations, and I know people going to
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  Speaker 2: say that I'm wrong. The peak for apple Stock will
• 4:06
  Speaker 2: be November third, twenty thirty five. So a lot of
• 4:10
  Speaker 2: you are like, hey, when is it run? I know
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  Speaker 2: y'all gonna be like, do crazy? He don't know and
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  Speaker 2: he's just making up shit. Now I'm not Apple's peak
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  Speaker 2: November third, twenty thirty five.
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  Speaker 4: I want to be on a record.
• 4:25
  Speaker 2: Hey, which was a good album on the low shout
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  Speaker 2: out to Nazi. But if you guys, go copy this.
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  Speaker 2: I'm coming up to the station. If one of y'all
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  Speaker 2: say this on TV.
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  Speaker 4: Love y'all.
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  Speaker 2: Uh for those of you for futures. I know it
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  Speaker 2: may be difficult, but put this in check. Your target
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  Speaker 2: for the bond market should be thirty three ticks.
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  Speaker 4: Here's why.
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  Speaker 2: It takes the same amount of energy to hit a
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  Speaker 2: big target as it does a small target. The great
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  Speaker 2: thing is that ZB pays more so kudos to his
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  Speaker 2: brother who hit his target, but with seven kinds and
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  Speaker 2: I want you guys to multiply five hundred times seven.
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  Speaker 2: That was the initial investment into the market. The payout
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  Speaker 2: was seven two hundred and eighteen thousand and seventy five cent.
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  Speaker 4: Great job. Thirty three tich should be your primary target
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  Speaker 4: for Z and you accountability.
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  Speaker 2: At one point on the show, I said AMD would
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  Speaker 2: dip to sixty seven to fifty six. It didn't get
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  Speaker 2: there and stopped the seventy two fifty. The crystal ball
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  Speaker 2: was broken. I don't know if I didnt re calibrated
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  Speaker 2: or I should have put it out when the moon
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  Speaker 2: we had a full moon.
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  Speaker 4: Didn't get there. My bad. Sorry, I was off by
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  Speaker 4: a couple bucks.
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  Speaker 2: Ian doesn't know anything right, so I want to be
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  Speaker 2: accountable and say that it didn't get there. But for
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  Speaker 2: those you got in in the seventies, great job and
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  Speaker 2: hope for the long term going forward.
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  Speaker 2: One two sixty two for AMD to hold long term
• 8:08
  Speaker 2: either five or ten years, put a one O two
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  Speaker 2: sixty two in Chat. Please and kudos to my sister Deborah.
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  Speaker 2: I've been telling you about it. She's been holding since
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  Speaker 2: eleven when it hit the all time high. That's eleven
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  Speaker 2: point one to three X from long term investment only,
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  Speaker 2: no options. I want you to put in chat right now.
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  Speaker 2: Long term investment is the wave. Now go ask any
• 8:27
  Speaker 2: day trader that you know and asks them have they
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  Speaker 2: made eleven X on a trade? Most have not. You
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  Speaker 2: can get the same kind of games long term investing
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  Speaker 2: with a great setup that you can from day trader
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  Speaker 2: and have the money working for you at the same time.
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  Speaker 2: Once again, I want to say scores new JP Morgan,
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  Speaker 2: please hold for the next ten years. Here are the
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  Speaker 2: top twelve reasons that most traders fail, and please write
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  Speaker 2: this down. Most don't have good risk to reward ratio,
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  Speaker 2: So you want to risk one to make eleven write
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  Speaker 2: this down.
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  Speaker 4: Or risk one to make fifty.
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  Speaker 2: So if you're risking two percent of your capital in
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  Speaker 2: a trade, your target would then be twenty two percent.
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  Speaker 2: Or if you're risking two percent and you want a
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  Speaker 2: fifty X, you will be going for a target of
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  Speaker 2: one hundred percent. If you stay within that ratio and
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  Speaker 2: you only take forty eight trades or less per year,
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  Speaker 2: as Damnar impossible if you're trading with the trend to
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  Speaker 2: be able to hit the target. If you want a
• 9:24
  Speaker 2: four breakdown of a great book on this is called
• 9:26
  Speaker 2: The Complete Turtle Traders by Michael Covell. Go to chapter
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  Speaker 2: five and six. If you read those two chapters and
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  Speaker 2: never dB eight, you'll be fine. A lot of traders
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  Speaker 2: end up blowing up their money and their account going
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  Speaker 2: for a one to one risk of reward ratio and
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  Speaker 2: taking too many trades.
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  Speaker 4: Number two. Most have unless realistic expectations.
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  Speaker 2: So when I ask a lot of you, like how
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  Speaker 2: many trades are you gonna take for the year, you
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  Speaker 2: like eight hundred.
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  Speaker 4: I'm like you can't take eight hundred trades on a year.
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  Speaker 2: You can't take five hundred and at a high level,
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  Speaker 2: Rasha Troy, like in your options, how many trades are
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  Speaker 2: you taken this year?
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  Speaker 4: Oh? Like three? And you guys can say whatever. You
• 10:05
  Speaker 4: go ahead, Rashaan, go ahead and say it.
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  Speaker 9: No, not a lot for me, not a lot.
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  Speaker 4: And arguably they're humble about it.
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  Speaker 2: I'll say it for it for them to not trade
• 10:14
  Speaker 2: all day every day because they running all this other
• 10:17
  Speaker 2: media and.
• 10:17
  Speaker 4: Like they'll bust your ass praise.
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  Speaker 2: Selection is everything, like and if I can be honest
• 10:25
  Speaker 2: with you guys, when you guys are like in my
• 10:27
  Speaker 2: comments like what you don't know and you can't do it,
• 10:29
  Speaker 2: I'm like, I know, and we'll get to the emotions part.
• 10:32
  Speaker 2: But if you don't have your emotions in check, then
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  Speaker 2: therefore your trading plan is not in check. I know,
• 10:37
  Speaker 2: you can't beat me because you can't stop overtrading. You know,
• 10:40
  Speaker 2: the people that are really good at trading, like go
• 10:43
  Speaker 2: watch Bono Win's interview. Bono Win did not care anything
• 10:47
  Speaker 2: about what I say with choice hit he stick to
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  Speaker 2: us plan, put on that nice grand go about his business.
• 10:52
  Speaker 2: One of the greatest traders I probably ever encountered. Those
• 10:56
  Speaker 2: that are good at the craft don't have to declare
• 10:57
  Speaker 2: it to anybody else. But if you can stay within
• 11:00
  Speaker 2: the sweet spot of twenty four to forty eight, you'll
• 11:03
  Speaker 2: be good. Third, most can't manage emotions. If you can't,
• 11:05
  Speaker 2: I'm telling you fast and is the way to go
• 11:07
  Speaker 2: or do to ten miles to day.
• 11:09
  Speaker 4: Most don't do any research.
• 11:10
  Speaker 2: You need to know the stocks or features that you're
• 11:13
  Speaker 2: trading like the back of your hand. I could tell
• 11:15
  Speaker 2: you everything about ESCB, you be crewde Russell, Nastat n
• 11:19
  Speaker 2: K Swiss Frank Future up and down in my sleep
• 11:23
  Speaker 2: if only had one hour of sleep. You need to know,
• 11:25
  Speaker 2: like the back of your hand, that is going to
• 11:27
  Speaker 2: give your edge. If you're undercapitalized, you need to take
• 11:30
  Speaker 2: even less trades and then also work more to build
• 11:34
  Speaker 2: more capital because being undercapitalized put you in a position
• 11:38
  Speaker 2: to have to take risk your trades to build up
• 11:40
  Speaker 2: your account, and that's only going to favor your broker.
• 11:43
  Speaker 2: Most quit too early. I hate to say it, You're
• 11:45
  Speaker 2: not going to be good in three months. Like That's
• 11:47
  Speaker 2: why I'll go back and show you I was talking
• 11:49
  Speaker 2: about this twelve and thirteen years ago before it was cool.
• 11:52
  Speaker 2: It's going to take you maybe two or three years
• 11:54
  Speaker 2: to get really good.
• 11:55
  Speaker 4: To be great, it may take you five to seven.
• 11:57
  Speaker 2: It's like none of you you at nine years old
• 12:01
  Speaker 2: start playing basketball. I'm black at fourteen, I'm ready to
• 12:03
  Speaker 2: go to the league as great as Mikey is. I
• 12:05
  Speaker 2: don't think Mikey is ready for the NBA this season,
• 12:09
  Speaker 2: and he's probably one of the greatest high schoolers ever. Right,
• 12:12
  Speaker 2: you have to get acclimated with the market enough to
• 12:15
  Speaker 2: know what to do. But once you have that, not
• 12:17
  Speaker 2: many will be able to beat you. Most of undisciplined
• 12:20
  Speaker 2: is the number one reason why people lose. Arrogance is
• 12:23
  Speaker 2: a big factor in it because it's not really about
• 12:25
  Speaker 2: the indicator. It is about your risk to reward ratio.
• 12:28
  Speaker 2: Please put in chat. Risk to reward ratio is the
• 12:31
  Speaker 2: greatest indicator of all time. Your RSI doesn't you got
• 12:34
  Speaker 2: like RSI? If RSI battles that much, take the charts
• 12:37
  Speaker 2: off and just trade off RSI when it gets to thirty,
• 12:42
  Speaker 2: Watch how much you draw down short at seventy and
• 12:45
  Speaker 2: see how well it does.
• 12:46
  Speaker 4: Your risk to reward means everything.
• 12:48
  Speaker 2: Delusion for all of you who are like, Hey, I'm
• 12:50
  Speaker 2: gonna get eighty eight thousand percent returning in the year
• 12:53
  Speaker 2: highly unlikely end an ego is the biggest reason why
• 12:57
  Speaker 2: most people end up losing.
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