Okay, welcome. Let me know. Everybody can see the screen here. It should be a blue and red arrow. With a pointer. Wonderful. Welcome. Welcome. For those of you that don't know me, my name is Melissa Armel, and I own a company called the Stock Swoosh LLC. And today I'm doing a lecture on advanced technical analysis. This is one of those subjects that everybody loves that trains. And if you don't trade based on technical analysis, obviously this will be a new lecture. But I think that really the only way to make money the market consistently is understanding how to read charts, which is really what we're going to be talking about today, because that's the basis of technical analysis. Now the type of trading that I do is advanced, meaning that I'm looking at advanced things in the chart. And we're going to talk about some of those today. Now this doesn't mean that you can't make money with fundamentals. I specifically do not use fundamentals to trade. I find the people that are used to using fundamentals that come to me and take my gap course and learn the technical skills that I have still look at fundamentals. And I say, if that gives you conviction to take the trade, if the technicals and the fundamentals add up, fine, do it. My concern is that people that love fundamentals get swayed by the fundamentals and then miss or don't look at or try to fudge something with the technicals, meaning they try to force it like talking themselves into the trade based on the fundamentals. Because if the price is telling you one thing, which is ultimately what we're going to be looking at in the lecture today, then it's just not there, okay, no matter what the fundamentals say. And that's why you can trade successfully and make money the market by just focusing on technical analysis and you don't need the fundamentals. So it's good news for someone like me because I really wouldn't have the time to even read all the reports about investigating the fundamentals of companies. If you'd like more information after the lecture, you can email me at MelissaBestockSwitch.com. I also have a Facebook, Twitter page and LinkedIn and Pinterest and Skype. You can go there and add me. And I put a lot of videos on YouTube. Tons of videos on YouTube. You can go if you subscribe. You'll get all the videos every time I do an update. Every time I do a lecture, you'll get an email that says I have a new video posted. So we're going to talk about really earning money versus having money first, which means what? If you have something called earning power, okay, it's actually much, much better than someone that actually has money. Because if you have a fixed amount of money and that's it and you don't have any earning power at the point of that you're adding your life or the knowledge to earn money, then you'll lose the money that you have. But if you have the power, which is the knowledge, which is the earning power, then you actually have a far greater, something far greater than actually having money. A lot of people come say, oh, I wish I had this much money. I wish I had this much money to trade the market. You know what? If you learn what to do, you'll make it. Even if you have a million dollars, you'll lose it in the market if you don't know how to make it. So earning power is very significant. And so this is where it comes into understanding what you're really doing when you're trading. And charts are the pathway to make money in the market. It's a pathway that you need to follow. Like I said, fundamentals are fine if you can use them with the technicals to get the same information. But if they're showing you something different in the fundamentals and what the charts are saying, then you may get set off your path. And so just make it easy for yourself and focus on the charts. I ask a lot of people when I talk to them and they're new to gap trading or new to trade in general, you know, do they even understand what a chart looks like or what a candlestick is? And we'll go over this a little bit today. But you have to think about what is your chart reading IQ? Like in a scale of one to ten, if you had to rate yourself, would you be a five, a six and a half, or would you be a ten? You might be a one. I don't know. I don't know how well you are at reading charts. I know that everyone that takes my class is better at reading charts after my class than they were before they took it. Even people that know how to read charts and actually think that they're really good at reading charts have no idea until after they take my class. I'm extremely well at reading charts. And you've got to get your chart IQ up as high, as high as you possibly can, if you want to be successful in the market. Trades set up quickly in your day trading. And that's what I've been trading and I do. And so you have to be able to read what's happening in live time. And if your chart IQ is high, you'll see it. You'll see it. You'll see it immediately. Like when I see things, I see it right away in live time. And that helps me make decisions to be able to take good entries in the stock to be able to make money. Now, here was the spy. We're going to talk about this. This is a spy from yesterday. Yesterday's spy had a really big rally. I did discuss this briefly in the trading room this morning, but the market actually got down yesterday on Monday. What does that mean for those of you that don't know what a gap down is? It means the market closed Friday up here at this number here, where the top of the bar. And then it opened the next morning down here, below actually the bar from Friday's low. We actually got under the low from Friday's low. It was a gap down. But it was a buy really yesterday in the market, which I did see in this gap. Okay. Now, when I watched the market in the morning, I said there was only a small chance this would do this on the day, even though I thought it could do it this week and ended up doing it on the day. Even though I said there's a small chance they could do it, I did say the market was going to rally. This was yesterday.  We actually rallied today from most of the day until the late afternoon. Although I'm not sure I didn't look to see where we really closed. But we're still very strong here. Anyways, getting back to this in the morning when I saw in the chart in the one minute chart. Okay, this is the one minute chart now the spy of the spy ATF. That was the daily. Now we're on the one. Here's where we opened at 930, 931, 932, 933, 3435. This is 935. Now, what I said in the room in the morning, I called this long. I called it long in here. This would have been too aggressive to do to take this entry right in here to know it would hold immediately. But around this area here, then I saw that we would. And I said once we get over 207, the chart is going to just take off, take off like a rocket. What ended up happening, now you could have bought this before 207. I did call the spy long around here. Again, I'm reading the chart. But 207, okay, was all the way up here. It was actually late. It was around 1015. But once the market went over that number 207, it's the big green bar here. See it? It never looked back the whole day. Here's a one minute squished of the whole day here basically up until the close. This is the one minute chart of the spy. Here was the area that I saw. Okay, again, this is using price analyst technical analysis that was significant for the spy chart. That if the spy got over this number, it would just go like a rocket. And that's really what happened. Now the marketing rally prior to that, you could have been on the market. This would have been very aggressive to do at 932. But here's where the market took off. And in the trading room this morning, I was talking about this. And I didn't realize it until this morning. I'm like, gosh, you know, I knew that yesterday I saw the number. The number was 207. You could have bought the spy at 207 and just put the stop at 206.99. It never went past that price the rest of the day. And it actually rallied up like a dollar 50 almost. You could have done it with a negligible stop because that number was going to hold if this was going to rally and go to the next target, which it did in rally all day. And that's exactly what happened. The market power trended. And how did I know this? Where do I get these numbers? Again, I get them off the chart. Everything that I do, my gap rating system, which we're going to talk about here in a little bit, everything I do, if you've ever watched any of my videos or come to mind any previous webinars, everything I do is based on one strategy. It's gaps. But I get it off the daily chart here to determine that something's going to do something on the day, whether rally or fall. Okay. And in the case of rallying, you want to buy the stock and something falls, you want to short it. Okay. So it's really chart analysis is like its own language. And it's a blank language. It's very important that you have to understand. And if you don't understand it, then you're not going to be successful in the market because it's the price that makes a difference whether you make money or you lose. You can talk all day long again about fundamentals, about how good or bad a company's earnings are. But at the end of the day, if the numbers don't match up that you're buying something below the price that it's rallying, if you're buying it, or shorting something above a price where it's dropping for to make money shorting it, you won't be profitable. And a lot of people like to do these things where they're doing reversals, where they think something's extended, like the market for example. People are thinking the market has been rallying a lot, it's extended, they want to short it. That is a poor, poor analysis of something to look at price reaction. Let's go back to this chart here really quickly. The reason it's such a poor analysis is because the price is clearly telling you in the chart of the spy, and I can pick the QQQs as well, but I'm just talking about the spy today, that the market isn't an uptrend and it's higher. So to just look at price, you say this chart isn't an uptrend, and the idea of price analysis again tells you that it wouldn't make sense to short in an environment that's bullish because the price is what's telling me that the market is holding strong and that the price is lifting at any chance the market gets to get bought like yesterday or any chance it gets, so you even got bought in a gap down yesterday. The market rallies and the price is going higher, so the chart price is telling me that it's going higher, therefore it wouldn't make sense to short it. And this is so basic, but many, many people miss it, but it does have its own language in it and people get confused because again, the market gap down yesterday, and you might have thought, well, a gap down, I'm going to short it then. Well, it's not that simple.  So what is your chart reading IQ? Have you ever wondered why some traders do so well and how do they see the move in a stock before it happens so clearly, which I'm very good at doing actually. There are masters of chart analysis. This is how I'm able to predict the moves in the market. This is how I'm able to say that this buy is going to go to 300. I think it's going to go there this year, but even if it doesn't do it, even if it doesn't in February 2016, it's going to go there. And how am I able to predict something like that so far away from a number that this buy is at right now? It's really not that far, but it is far. It's because I'm good at reading price action in charts and how they move, okay? Reading charts and the movement of price in a detailed manner is a skill.  Money Tuesday, Wednesday, Thursday, Friday, reading charts and trading. There's no substitute for you trading live. Analyzing charts correctly is what sets successful traders apart. How can you gain this expertise? And how can you use charts to your advantage to profit in the market? Well, you just learn. You learn from someone who has a high aptitude for chart analysis by focusing on detail because it is the detail that leads to the accuracy.  That's a detailed number. That's a, that's a number. That's a real number that held the entire day. Okay. And that's where the differences in the detail, because like I said, you could have bought that and put it in with a penny stop because it never touched on any other number below that. And if you learn how to do that, this is where you make the money. Okay. Not just getting, having the conviction to know to buy this in the first place that it was a good buy, which I called, you know, with Temm is in the open. But the fact that you knew then that it could hit over 207, a very detailed specific number, that it would go and rally to the dream target, which it basically did on the live day. But you've got to learn what to look for. It is though about the accuracy. Okay. And this is why having indicators on there helps you, but actually indicators really aren't that accurate.  Like there's nothing more accurate than my mind to see something. Like there's no computer is better than my mind. No, no indicator. I could purchase is better than my mind. No software system. No nothing. My mind far exceeds above and beyond. Anything that I could purchase for any type of computer thing to make a decision in the market about what I see. And not only that, I'm very quick and capable of doing it fast. So do we all see the same thing? We really do see the same thing, but do we? And I'm talking about what our eyes and our minds see. Okay. Like the market over here, when the market in the month of January, this is again the chart of the spot, when the market of the month of January open and fell and had a significant amount of red days during the entire month of January, a lot of people thought that the market was turning. It had this big spike up thing that happened in December. It was some FOMC announcement. I only remember what it was. And then after that, all of this here dropped off and people really thought then that we were turning bearish and there were a lot of red days in the month of January, but the overall chart was holding still bullish. February opened and we literally rallied almost every day of the month of February. In fact, I think you could count there were three red days or something in the month of February. February was such a bullish month. And April could turn out to be quite very similar actually with us making a new hot. But we all, everybody was looking at this. Everybody was looking at the same thing. Pretend this isn't here. Everyone is looking at the same thing here. We're looking at this and I kept saying the market's higher. The market's going to make a new high. The market's strong. The market's still strong. The market's not going to crash. But a lot of other people are saying the market's going to crash. It's extended. It's bearish. It's coming in. It's turning around. We were all looking at the same thing, but were we? We weren't really. Because my eyes are looking at this thing in one way and somebody else's eyes are looking at something in a different way. And that is the mystery of the market. As far as the trader goes, because you could have a thousand people in a room and we're all looking at the chart of the spot. Like everybody in the world. We're all looking at the same thing. And I could say one thing and everybody else could say something different. And who would be the one that was right? Well, you would know until after the moment happened of the pre-call and then the event would take place after the fact of whoever said what it would do. But the reality is to be profitable to make money, you absolutely, without a shadow of a doubt, have to have something. And it has to go where you're saying it's going to go before you take it. It has no significance if you actually go after it's already gone. It's like any money in the world could seem at the market rally yesterday. But if you didn't go long and at the right points to make money, then it didn't matter. It's the idea of actually seeing something before it happens and actually taking it and knowing it's going to go there before it actually happens. That's the only way they're going to be profitable when they actually make money. So you have to learn actually how to do it. Hold on one second, everyone. Someone keeps ringing the bell. Sorry about that. Anyways, you actually have to learn what to do when you are trading the forehand so that you can take it because after the fact, it's done. The move is done. It's over. And then you won't make any money. So we really all have a different vantage point and this is the mystery of the market and that's why it's so, so important to see what something's going to do ahead of time. If you don't see what something's going to do ahead of time, you can't take the trade to do it. So it's about detail and precision. If you're focused on reading charts and the analysis of them for accuracy, you will get better results. Be more detailed in what you do and trade with precision. This focus will translate into successful and profitable results. Successful results grow on top of each other. Your confidence grows with results and your conviction grows with results and I can't tell you how much this makes a difference as far as your risk. In other words, people call winning streaks just like people of losing streaks. If you're making money for every day for like a couple of weeks and you're doing really, really well and having some really great days in there, you're going to feel very confident about what you're doing. You're going to take more risk. You're going to feel great about yourself and your confidence will grow and your results will improve. The problem is what happens with a lot of traders is once they start to get on a losing streak, it's really hard for them to turn it around and then they tend to end up taking more risk and losing more and then it really chips into their confidence. I say if you find yourself not doing well three days in a row, let's just say if three losing days in a row you should just take a day off. You should take like the rest of the week off.  So three days of losing days in a row is just not good and I can't remember the last time I had that but if you find yourself in a space where you lose three days in a row just stop and take a break. Take a week off. You have to focus on one quality system and play and that will have a huge, huge impact on your trading. Now what do I do? I use a 26 point checklist. This is how I know what to look for in the morning and I just check off the ones and tally them up. I'm not looking for a perfect score to take a trade but I am looking for a very good score which means 20 points or more. 20 points is a lot of things to determine if something's going to work as long or short. Again, I prefer to short but you know at an 18, 19 as a 50-50 chance of working or failing something rates like a 16 or 17 I really don't touch it. There were some gaps in the last two days that rated very low. 16, 17, I didn't trade them. I just didn't do them and you know what they didn't work. I made the system for a reason don't deviate from it if you learn it from me and I tell people in the trading room stick to it and you have to be disciplined and follow it because the points are based on chart analysis. So they're like telling you ahead of time in the pre-market like this is a good one or this is not a good one and that's how you know. Chart analysis is a science so you really have to learn what to look for and actually if you take my class you don't have to learn what to look for because I'm teaching it to you just look for it. You look for it to either there or it's not. It's either boom, boom. It's either there or it's not. Yes or no and it's just that simple and you tally it up. Now really what I do though on the bigger scale looking at everything I do whether it's an entry, whether it's a target whether it's choosing a certain stock to trade in reference to the gap it's based on chart analysis. Again I never look at fundamentals and chart analysis is really technical analysis.  A high degree of focus and skill from this is chart comprehension is required to consistently profit as a trader. Become an expert in chart analysis and this will give you an edge. An advanced level of comprehension in charts is what is going to help you make it, okay. The golden gap system looks at 26 different points on a daily chart in order to determine the direction a stock will make on the day and if you will have a proper setup in it. That's part of what tells you that too. Something isn't going to have a good setup if it doesn't rate well because there's something in the chart that's telling you it's not going to have the exact entry rate and again not only do you need the stock to go in the right direction you have to have an entry otherwise where are you getting in and where are you putting your stock. Okay. But the good news is that you can make a fortune in the market if you learn how to become an accomplished chart reader and I'm starting to realize that for myself because of the fact that I've gotten so, so good at seeing numbers and again it's a skill that builds on itself over time. You know I think it's a misnomer. A lot of people think that over time you know over time they lose money in the market. The fact is over time you should be making more money over time in the market. Why? Because over time you should be getting better and a lot of people just because they're training for 10 years plus think they're getting better but if you look at the results they're not really getting any better and if they're doing something and they're losing money and they're not getting better then they have to stop because if you were getting better you'd be making more money not less. There's always a reason there's always, there's always a reason. There's always a reason if you're not making money why. There is. It's not like this is some somebody who said to this to me in a webinar the other week or it was in a phone conversation I remember I think it was in a call. Somebody was saying there's some like it's like the market's rigged or something. The market is a rigged. If you're not making money there's a reason why. Boom. That's it. There's no mystery. It's not rigged against you. The market doesn't even know you exist and nor does it even care. Okay. It's you're up to you if you're going to make money or not and if you are losing money there is a reason whether or not I could pinpoint it in one or two conversations with you. I don't know but I'm very good at seeing that sometimes when I speak to people but I will tell you if you're losing there's a reason and you can correct it. It may be you don't have a good strategy and maybe you're terrible at entries and maybe you size yourself wrong and maybe you don't have a strategy at all it may be that you're being doing too many different things it may be you know that your discipline is awful and if you lose the first trade of the day that you run off the deep end and ended up over trading and lose like 10 trades in a row it may be that you're terrible at reading charts and you have to learn how to read charts it may be that you listen to too many different people in the morning when you trade or on the live day you got the TV on you're in five different rooms you're checking things out and you don't have any conviction to any one of them and you do everything they say and lose in a million trades there is always a reason if you're losing that you are. So I teach a class the class is called the Golden Gap course and it teaches really chart analysis on a very advanced level now this doesn't mean that if you're brand new to trading or gaps that you can comprehend it you can you may have to retake the class more than once which I allow once you sign up for it you can retake it as many times as you want to after that for free okay and there's a reason that I did that because I understand that not everyone is on the same level than when they come to me the class teaches how to comprehend, calculate and determine the price action to follow the large institutional money that is trading in stocks in the market and the 26 point rating system in the Golden Gap course can be used to rate stocks to play intradit however it can also be used for swing or core trades I think the market is a great example of that you could be long in the market for not just a swing trade a core trade and I did a video a few days ago or yesterday actually the market is going to run for a couple of years here and I just saw that recently in the last month and I really just saw something else even yesterday that made me do that video the market is a core long right now it's not a day trade it's not a swing trade it is a core long that you could be in for years, months okay the system is designed to follow the event this event in a chart happens at a gap large institutional money is in the power in the market and that creates the gaps that's what's driving the market higher for example the market is being bought trading on the side of big money is how to make a lot of money trading and I don't know what your goals are if you want to make a little bit or a lot but obviously if someone said to you you could make a lot of money trading would you choose that you would so I mean honestly everyone wants to make a lot of money in the market but the class that I teach is a very serious study of stock charts and the class has an education about how to determine the direction of stock that will make on the day and how to trade it properly which has to do again with the entry okay and where to put the stop because if you don't know where to put the stop you can take it and the entry could set up but if you don't have the stop in then you don't have a limited risk which you need it's called calculator risk but you also want to be out if it doesn't work pass the certain number in other words if it goes over a certain number then you want to be out the class also educates traders on how to read resistance and support an advanced level okay yesterday Q-com got down I don't have this chart in here but I knew that a Q-com went over a certain number on that chart that it was off like completely done so for example you not only need to know how to where to take it you need to know where to put the stop because if you don't have that stop in and it goes over the number it could really go over the number just like the market really went over the 207 number in the right direction you know you have to be in something if you're in the train already like in the case of the market you might not have been in it before 207 but if you weren't if you were already in it you have to have the stop in because you don't want to be in it if it goes over or under a certain number whether you're long or short because it's going to tell you it's going to fail and a lot of people say well you got to give it another round no, no you don't it's like there in black and white boom that's it it's not going to work right on the day if it goes over a certain number it's just not going to go it's not going to have the momentum it's not going to have the follow through it's not going to get the buying or selling for example if the stop needs in order to have the move or the volatility or it's going to actually fail and go in the other direction big which is what Q-com did yesterday it actually got down and was along that in a big way it's funny I talked about this last night in the lecture last night could you wait 10 years to become a millionaire you know what if someone said to you that you actually could be a millionaire in 10 years you know would you wait for that would you you probably would okay it's just the idea that people tend to be very impatient and making money and they want to do it very quickly and so you know you have to kind of set your timelines and your horizon but actually 10 years of the lifespan of yourself isn't that long of a time period it's really not that long at all it's about learning what to do and being patient in reference to understanding it so you can get to that point because the fact is that traders who make millions of dollars are masters at reading charts and that's really how they do it so it's about becoming a professional with the right knowledge again which is analyzing the price if you are one individual trading in the market there is only one way you will become successful you need the right knowledge and the right knowledge will allow you to make a lot of money trading even as one individual and you don't even need a lot of money to make a lot of money if you have good risk to reward trades just like I showed you that SPI trained from yesterday that was a great risk to reward trade and you didn't really need a lot of money to be able to take that train because the stop was negligible because if it went under 207 it wasn't going to work the low wasn't going to go to the next target and then the rally from the morning from 932 would have been over and then the target would have been 207 that would have been it, do you understand? so you need a lot of knowledge one major difference between a so-so trader and a great trader is that great traders are absolute masters at technical analysis an elevated degree of comprehension and reading price action is required and if you do not know how to read charts in a sophisticated manner then it's time to learn so you've got to learn how to read the right information that the market is giving you in the charts which is what? it's in the price action the candlesticks depict the price action all candlesticks do is depict price action in real lifetime now you can use your level 2 when I'm trading lives I'm looking at two things like at the same time well I'm looking at a lot but I'm really looking at two main things I'm looking at the moving price that's on my live chart which is the candlestick which is moving and I'm also looking at the level 2 price okay I'm looking at both of those because the level 2 price gives me a more accurate price data that can be within 100,000 of pennies when it's moving and I see the spread if there is one and then I have the candlesticks when I'm seeing when they're moving whether they're moving up or down okay when the price is moving in the chart so I'm looking at both of those things you use the prior data to read the overall current long term trend of the price and you read the event which is in the strategy which is the gap to determine if the price is reacting in a way if you're going to trade it as a longer or short for it to move for profit so you are looking at the daily chart when you're deciding what you're going to trade which is the price on the daily chart but then when you go on a live day take the trade in the one minute chart which is how you're getting the risk to reward for entry like we talked about in the SPI now the QQQs this was again yesterday too here this is the pre-market okay this is a chart of the QQQs back from the last few days of not just the live trading in it but the pre-market as well this is a 15 minute chart here I think I have one here at what the QQs did in the morning this is Monday morning they gap down this was the closed Friday night they closed up your own 105 something or whatever and gap down here to 104 like 50ish so what you would do is look at the price action in this the QQQs or whatever stock symbol it happened to be and you would analyze this price this is really happening here it's early in the morning the market isn't open yet it's a pre-market activity and you would determine and rate this to determine if it is good enough to do what to short because it's gapping down now if it does not rate well to short that doesn't mean that you're necessarily always going to flip and buy it but in the case of the market yesterday you could have bought the market it was a good long okay so you have to know what you're doing with this you can't short every gap down this was not a good gap down to short and if you shorted this yesterday it didn't work now if you bought it, it actually worked here is the innocent to the open this is the open of the live day here in the Monday you can see where it came down and it retested actually this prior area back from April 1st so this is Thursday of last week this is a 15 minute Monday morning we gap down now again you would have looked at the gap down you would have rated the gap the gap would not have rated well to short you could have done one or two things passed on it, moved on, found something else to see if you could short or you might have considered going long yet in any event it ended up turning out to be a long and it held this area right back here on April 1st in this guy which is the queues ok now this wouldn't have told you necessarily to buy it but the price analysis here gives you good information about the area that is holding strong which we rallied and spiked off of it is the gap itself though that is telling you what you're supposed to do with this and the quality of the gap rating that's what you're going to look at first what you're looking at here then when the thing sets up here's the live day you're looking to set it up if you see it setting up then you take it and that's where you'll use this information that's over here and you can see here actually from the 15 minute in the queues here is this fall off that happened here the holiday week that happened over the course of really it was the 31st into well into the area of April 1st we've 100% retraced that basically since yesterday this drop off over here was 100% retraced okay does anyone have any questions about the QQQ's chart here at the spy chart that I went over a little while ago and if you have any other questions about these in more detail when we're done here I can actually bring up the live market charts to show you so the fact is that learning how to read charts is very exciting because like something that I talked about in the spy train are either one of the market traits that I called long yesterday it's exciting to see that happen because the numbers match up so well when I see something like that spy blow over the number that I called it to do at 940 that's exciting to me that means that everything in the world of the market makes sense to me and that gives me confidence and conviction to continue to trade and risk more and make more money and I think until that light bulb or that firework just sparks in you where you're like oh my gosh I get it when that day happens to you that enlightenment when everything makes sense then you never start to think about trading as something that is gambling or something that seems like it's ranked against you for me the numbers that I find in the charts hold so often that I know that they're real and I'm not making them up because they're there in the chart I just happen to see very clearly the correct ones and that continues to give me the elevation of the confidence and the conviction to trade and not only that to teach people to do it and to call the trades live in the room but this idea of the confidence really helps you to make more money in the end because the only way you're really going to get to the point where you do really really well is if you continue to increase your risk and you want to get to the point where you can really be what I would consider an advanced trader like this guy right here which is this is basically me I put on my special glasses every morning when I get up I see things very clearly in the pre-market if I don't see it in the pre-market then I'm probably not trading on the live day some people don't look at all about anything before 9.30 they wait until after 10 o'clock and scan on their scanners to decide what to do if I don't see a setup and I'm not actually in a trade before 10 I don't even do anything on the day I have zero conviction in it and I don't want to trade so an advanced trader has everything pre-planned beforehand knows what they're looking for if it does this then I'm going to take it if it goes over this number then I don't want to take it if it goes over this number I don't want to be in it do you see what I'm saying? these are the kinds of things that you need to know ahead of time to do it now last week this was the holiday week BBRY actually gapped up no actually this was the week before the holiday week this was the Friday so this was Thursday on the 26th then BBRY had earnings it gapped up pretend you didn't see that this dropped in here you would have looked at BBRY on the earnings and you would have seen that it gapped up and it would have come up on your scanner as well and you would have looked to rate the gap to determine if it was a long that would be the first thing that you would do now if it was over 20 points as long you would have looked to go long in it didn't now does that mean that you would have shorted it once again you could have looked to short it if you wanted to I don't typically do these ones but it was not a good long it didn't rate well as a bullish gap I don't know what the earnings even said again we were talking about fundamentals earlier versus the technicals I don't even know but the fact is it was not a good bullish gap from my rating system anyways on the live day it ended up falling and it ended up falling on the day here which was the 27th then when it opened now I'm going to show you what it did here this is a one minute chart so BBRY opened at 9.30 and came in really hard right into the open now I could have made an attempt to buy it here I wouldn't have done that for my system because it didn't rate over 20 points for the 26 point system but let's just say you didn't know my system whatever it was a gap up you looked to buy it if you looked to buy it here at approximately 9.60 or something when it started to rally it did end up going up and you could have made like 15 cents on it or something but if you didn't get out you would have lost because the stock ended up going down then in this bar here right into the 10 o'clock period and broke the low of the day so in the morning it set the low of the day here around 9.55ish but then by 10 o'clock it ended up just taking a nose dive and broke the low of the day into 10 o'clock okay so again would you have gotten out here at the right place remember I was talking earlier about the idea with the charts the rating system tells not just what to watch and in what direction to take it but it also pinpoints the right setup so let's say this gap would have rated I have no idea what it rated on the bullish scale on the rating but let's say it would have rated a 15 or something which I don't even know but just say it would have the setup wasn't right in it you didn't have any profit in there any risk to reward there wasn't any opportunity to make money it didn't go anywhere would have really been a bullish target in this right now would have been $10 so you would have stayed in it is what I'm trying to say if you really liked this was a long which wasn't a good long but if you really did and you were looking at the chart your target would have been 10 9.75 so you probably wouldn't have gotten out of that there and you would have gotten stopped out of the trade okay now if you did that and you took it and you got stopped out and it went through the low into 10 o'clock it came down in here and started basing this is the 200 moving average of the 1 minute chart you could have looked to buy it again if you did look again what it did it barely got going again this had I think a 20 cent move versus the 15 cent one over here again why would you buy this here after this failed over here I would hope that you wouldn't okay like I wouldn't but the point is though would you have gotten out here probably not your target then would have been still $10 maybe the high of the day which you didn't get to okay and you see here how this sideways here there wasn't any profitability in this if you shorted it or went long in the stock on the day there was no correct entry based on the price of the chart on the 1 minute chart if you're trading on the 1 minute chart there was no correct long technical entry and there was no correct short technical entry again I'm not shorting these gap up failures in this case it wasn't a good bullish gap but if you tried to short it there wasn't any profit in it either there wasn't any correct setup with risk to reward it a number that you would have known that would have held with any kind of target because really if you looked to short this on the live day if it had worked as a short correctly to make money the target wouldn't have been 950 the target would have been $9 okay in this case here anyways the point I'm trying to make is that it wasn't a good gap therefore it had a correct technical entry in it in the chart now what happened then the following day the following day oh here let me go back to the daily the following day you could have watched BBRY it actually gap down the day after the gap up so the stock gapped up on the earnings failed as a bullish gap there was no buy in here no selling here to make any money no short fell gap down this is a valid gap down on the Monday of the 30th you could have looked to rate the gap you could have looked to short this gap you could have looked to take this gap as a trade it was a valid gap down and look at the bar that it had of the day to the downside now what is there a correct technical entry in this in the one minute let's look so this is now we're on the Monday of the BBRY the day after the earnings the earnings it gapped up okay this is the day after it gap down you're looking at BBRY you could have rated this bearish gap now into the open here this is a one minute chart again 939 3132 here's the one minute chart you're looking to take a setup now in this to take it as a short and you're looking for good risk to reward that's what I would consider a quality setup as it turns out it had it you would have shorted the stock at 940 and put the stop at 952 this is a great entry it's a 12 cent risk and this is pretty much right in line here with how this stock trades now in other words you can go back and look at the history of the stock to determine what's a good stock position for this but 10 12 cents and BBRY is normal and what is your target your targets 9 okay so 40 cents you're looking for 40 cents the 12 cent risk that makes sense now you're taking an advanced risk you're an advanced trader like the guy up earlier with the glasses you can risk $720 and take 6,000 shares and actually as far as buying power goes this really isn't that much because this is a cheap stock it went to the target actually went past the target you could have based it at $9 total profit in this trade is 2400 the risk to reward is 3.3 this is a solid train that means for every dollar you risked you made $3.33 the BP you would have needed would be $73,000 very reasonable for a 6,000 shares and again if you want to risk half or divide this by thirds you need just divvy it up now let's go back and look so here's the short entry stop drop and do you see here that where you shorted it it never touched on the price that you took it since you shorted it and it just kept falling and you're up all the way and it just goes right on down to the target I mean it literally from this gap down here just fell off a cliff and it actually did go on the live day here if you stayed in it later and all the way down to like $8.75 but $9 was the target which you got to here within the morning period it just kept falling just fell straight off this is selling action so you're looking to short selling action that you'd have to see that it would be coming into this you have to see it would come into it here you're not making any money for shorting it here do you see the difference so the chart analysis that I'm getting from this chart here this is the daily chart of the BBRY of the gap analysis of the daily chart of the BBRY is telling me that I can take this trade here on this chart on the one minute because I'm getting in this trade in this area this is all that I'm seeing here to take it on the daily chart so otherwise after this happens everybody in the world sees it it doesn't even take that much to see it everyone in the world sees it and it's on everybody's scanner and it's already falling and then where do you even put the stop there's no set up in here to take this at this time if you wait till after 10 o'clock you're just shorting it into the wind while it's dropping half the move is over this may seem easy peasy to you here now because you see it and you see that it fell and you see the big bar here made on the day but you have to be able to see this right in the morning when it's just sitting right there and you have to be able to see it in the chart here before it does all of this because for all you know it could have rallied it actually did rally here do a buy a set up went over the hot but you wouldn't have been looking to buy it you've been looking to short a base on the gap and this in here is where you this is where the skill takes to learn how to read this in the price of this because looking at this now everybody in the world can see that it fell and it's easy to say it but to get the trade you have to see it in the analysis of the chart of the price action ahead of time otherwise you don't make the money you can't get in to make the money does anyone have any questions about this does everyone understand now if you're feel free to ask questions I'll just answer them as they go along if you're a beginner trader if you're brand-new you're obviously not going to be risking $720 what if you just want to risk $72 you could have taken 600 shares of this same exact trade 940 is the entry stops over 952 risk is 12 cents on 600 shares you risk $72 and you get out the same place the target's 9 $240 may not seem like that much but actually $240 is a pretty good amount of money to make when you only risk $72 and not only that if you make about $250 a day that's like $1250 a week and that's really not half bad if you're making $1250 a week which is so doable so doable in the market it's not even funny it's so doable it's doable with someone with a small account period if you're not able to make $250 a day that ends up being $5,000 a month and that's $60,000 a year and do you know that many traders are not making $60,000 a year and that's only $250 a day same exact trade here and the BP in Newt is only $7,000 which is really good let me answer some questions here Kerry understands good George says what time frames do you prefer I look at them all if I only had one chart to trade off of if the universe came and said that's it we're taking away all your charts Melissa you got one chart to trade off of it would be the daily chart that's the only one I would use but I do use the one minute to take the entries but I could trade off of only one chart which is a daily and if I only had one to pick that would be it but luckily I don't have only one to pick so as far as favorites go I use the daily chart but I'm really really good at trading on the one minute chart and that's where I live I live on this one minute chart in my morning trades in the morning to take the trade and put the stop I'm living in this time frame which is a professional time frame to trade quite frankly most traders day traders do not know how to trade on a one minute chart on the planet now today on April 7th 2015 and 25 years from now that will still in fact be the truth as long as the market exists as long as traders trade there will be a very small percentage of people that exist on the planet that day trade the market that know how to read the one minute chart well if you learn how to read this chart well you will do well as a day trader because you'll see the entries right to take the train to put in the stop to take the right risk for risk to reward a day trader you have a certain unlimited funds to work with on that live day and buying power just like everyone and you gotta maximize it as much as you can to make money otherwise you're basically scalping or risking a dollar to make 50 cents and it's really tough to make money then to pay yourself when you're doing that why because you have to pay for commissions the broker you have to pay for a platform fees you might have to pay to be in a room like mine and it all adds up so if you're not getting the good risk to reward trades trading on the day as a day trader you have to pay however the cost and pay yourself alright so I like the woman in the daily but the daily would be the one if I only had one now what is buying power buying power is the amount that you would need here in order to take the actual stock position in other words in your live account and I'll talk about this a little bit in the next couple of slides here you need at least when you go up in your jiggy in your platform it'll have to say I have 73,320 buying powers available to me on the live day you need that there you can't take this position that doesn't mean you need 73,000 dollars cash it means you need it in buying power the amount of buying power you get from the broker depends on the type of account that you've set up with the broker there are different types of brokers you have proprietary day trading firms that you can open up a brokerage account with and trade and you also have retail brokers you can open up an account with and trade you have to contact them and ask them how much money did they require how much buying power they're giving you in the live day you've got to ask these questions to the broker but you have to have this amount available and that's why I put it there so you know but it's not the cash it's the buying power it's basically a leverage every broker out there gives you leverage every trader trades with leverage you don't learn how to trade with leverage leverage is a great thing leverage is a wonderful thing and no one that trades with me ever has an issue with that because I use hard stops and I teach everyone to use hard stops and we're not taking over any overnights we're flat every day by four o'clock so the leverage you get you maximize on the day and you're flat and you're out of it whether you made money or lost money in the day the leverage doesn't affect you because you're flat by four leverage tends to be an issue for people who can't control themselves and are taking all these overnight positions and they're doing them with leverage I don't do any of that okay I'm flat every day by four o'clock I know exactly what I have and the buying power helps me make money and it helps me make money specifically really in very expensive stocks which I don't tend to trade that much but every once in a while for example if you want to go along the spot the cost of the strike price at the cost of it you know would have been 206 something or whatever which is 206 dollars you know a share so you would have needed leverage to do that um let me just see here do I train students for all time frames I trade them for the time frames that we focus on in training which is the daily in the one minute do I teach all of them yes what one so I focus on mostly in the class though the one minute which is where we're taking the entries and the daily do I look at and teach in the live training room and in the class look at the five minutes 15 minutes to sure yes but we don't 100% focus on those because most of the trades that I'm taking are on the one so you'll learn the one like down pat and the daily and the other ones you'll learn I teach them but they're not like something that you're going to use like 24-7 basically Lee is asking me a question was a success rate of such trains meaning the bbri or which one what do you talk about specifically here the gap system bbri gap what do you mean specifically be more specific be more specific in your question Lee and let me just see if I ask everybody else's questions I think I did be more specific what you mean Lee as I'm still talking here and I'll go back to you anyways the point was here that this guy made good money for the risk so if you have an account like for example to proprietary day training for me only have $2500 in it they may give you leverage of 50 grand which is great you can take this trade then you've got the leverage you've got the BP to take 7000 share 7000 and buying power risk and 600 shares but if you have a $2500 day trading account at a proprietary day training firm you're not going to risk $720 that would be ridiculous so you risk $72 and you make $240 and you still actually made the 10% of your money on the day and that's fantastic so do you see that's really really good and that's how you can take a $2500 small prop account and turn it into you know 5 grand and then you have the 5 grand and turn it into 10 grand and so on and so forth you know you need $25,000 in a retail account and some people want to save until they have it but you may be waiting a long time to save that money until you have it and you could trade in a prop place and start trading and getting the system down and learning it with just small risk it's about learning the system and doing it and that's why I said the example you know if you had someone told you it could be a million or 10 years would you wait it out and do all the right things to get to that point a lot of people won't they just won't but it's actually not that long of a time in your life and when you put it in perspective it makes sense to learn it right to wait it out otherwise you're going to nose dive yourself into the market taking all kinds of crazy risks doing a million things and losing and I know people blow up accounts and then they learn something else and then they come back and they save money in the work of their job or whatever but why not just save yourself a headache okay you're asking about the BBBY what's the success rate of such trains well BBBY is not is different because this was not the day of the original gap so I'm going to answer the question in two-fold what's the success rate of something like BBRY which is actually a continuation really BBRY that's how I would classify this one here the success rate of these I've never tracked it for continuations but I will tell you that I call them in the room a lot and if I don't have a new gap to do that I'm in love with then I will do a continuation I don't know the exact success rate I think it's higher than I originally thought when I started calling them I still prefer new gaps this is me personally this is just me personally but I'll tell you there's some people in the room that are doing nothing but these continuation gaps and they're doing them as swing trades and court trades too and they like the continuations better because they seem to be not so they take a little bit more longer time to set up like you didn't get into this trade here at 931 you didn't get into until 15 minutes into the open there's some people that are in the room with me trading that did the class that like to wait a little bit and they just like to wait a little bit longer they're not quite as aggressive mentally as me or whatever to hit it and there are some people that prefer continuation gaps I don't know exactly the percentage of the continuations but I think it's fairly high our people wouldn't be in love with them that are in the room me I like the new ones now what does that mean like the new gap that really happened the first gap, the gap on BVRI that really wasn't a good long so you wouldn't go long yet but I like to do the ones of the day of the initial gap and those are my favorites this is just me personally though the percentage rate of these is well above 70% for the success rate of these for the day trades and as far as longer for longer-term positions for highly rated gaps for swinging court trades it's higher than that I really need to start tracking that although I have the swing trade letter that I started back in November I guess I could go back and track that but it would only be that 6 month period of the swing trade letter to track it the reason I decided to do a swing trade letter was I realized that actually on the longer-term picture the percentage rate of the gap is actually higher than even on the day trade but your risk is much different in other words you would never take 6000 shares of BVRI on that day of that gap your risk would be very high to do that, do you understand because you can't put in a hard stop the control that I have in the day trade is what I like about day trading like if I put the stop in at 952 even with a 6000 share position which I do all day long I'm out, I'm out of it it boops over it, I'm out and then I know I lost what I lost that's it, okay when you take something overnight again my system has a higher percentage rate of success of follow through for the longer terms once here but when you take it overnight you know you don't have a stop in so you can't take the same large position size unless you're willing to assess the risk accordingly like for example in the BVRI you would have a paper stock if you took it, the paper stock would be over 10 so you couldn't take 6000 shares that it would be some crazy, crazy risk with the entry, you know it would be 60 cents times 6000 would be $3600 I mean if you want to risk $3600 go ahead but the fact is the stock can actually gap up overnight 11 and then all of a sudden you're down 7 grand, you know what I mean so it's just you have to factor in the fact you don't have a set stop there, so I like to trade on the 5 day and the day trade and if you do the swing and court trades that's where you take a couple hundred shares a couple hundred shares in it you know what I mean and then because a dollar regains you 500 shares in it then you're down 500 bucks big book you know what I mean, you can't do that with a $2500 small account but I'm just saying so as far as day trades it's more than 70% as far as swing and court trades for longer term it's high I have not tracked it since I've been doing the swing letter but I know that it's higher and there are people in the room actually that are actively doing my gaps for longer term, I have one gentleman that emailed me about it that he finds the greatest value in my system in actually doing the longer term trades which was an interesting email I should actually post that as some kind of testimonial okay let's go back here where we were now one of you had bought the earnings gap in my day one I'm using this in here because again this is where the gap analysis of the chart which you're looking at when you're rating the gap in the 26 points you're looking at the price of the gap to determine if it's good or not you were looking at your why if you look to buy that earnings gap it did gap up you would have been looking to buy it if you do anything but it wouldn't have rated it as a buy but what if you had looked to buy it and the earnings said maybe they said something fabulous I don't know what would have happened to you if you had bought it on the day as a buy and gone long in on the gap up and held it and didn't get out of it for example before the close of the day even though it fell on the day do you see it gap down against you then and then it ran hard the entire next day you would have been underwater you would have lost money in it so the importance of understanding how to read a chart in the price analysis of what the stock is doing particularly in the gap helps you in both directions to day trade them or to take them overnight but even if for example it doesn't work on the day as a day trade to go long this you got to know what you're doing to take it even for an overnight because you can't just say well it gapped up it gapped up and I'm going to go long it down in the gap up or like the earnings or the fundamentals or whatever they said and you ignore the fact that it fell on the day and you didn't have the ratings isn't determined if it wasn't even a good long in the first place you would have lost money and then you would have been down when you got up then the following morning and to Monday morning when it fell you would have it because it gap down okay that's probably what somewhat happened here why the stock also fell so hard on the day of the second day down do you understand because some people probably did buy this it did have earnings it did gap up on the earnings it did close the night before here and it did gap up on the earnings 60-70 cents and it didn't even though it fell on the day it didn't fall like crazy and remember we are in a bullish market so somebody probably bought this that helped this go like this then this day which it got sold off so first it gap down and then it kept selling selling selling but I'm saying once the day kept going as it got into itself here which you saw better on the one-minute chart the selling kept pushing it down so you did have people that bought this on the day even though it was red because the gap up and then this helps this fall and then people get scared and then they get out and that's what makes the panic here of the selling okay so it's like you really have to understand what you're looking at and every day it's like it's own day in here okay every day you have to analyze and look at what you're doing every day now if you looked at the bigger picture of BBRY here just going back the last 6-7 months or whatever on any given day most of the days was really nothing to do with the stock there were days in here you had bullish gaps here was a bullish gap over here in BBRY you could have looked to rate the gap as a long I don't know how it would have rated but if you had gone long this it did work as a long as a day trade on the day you got a small move up to $11 if you took it every night but it never really went anywhere higher it actually sold off very hard after that after this in here and it would have gone under at the day here that you bought it and you might have actually killed it in here if you did it for a longer term trade and you probably wouldn't have gotten out of this with profit because of the fact that you would have been looking for a certain target and it didn't really go there you probably would have been looking for a target of $12 or $12.50 or $12.60 up here okay so on most given days you're looking for the stock to gap and if it doesn't then you don't do anything there's really nothing to be in here on any of these days you're looking for like the day that it gaps here or the day that it gaps here or even a gap over here and I don't remember the reason for this gap but this did actually work as a gap down as a short and this one worked as a day trade as a long in the gap up now that we were talking earlier somebody asked a question about buying power buying power required for gap trading you determine your risk per trade for the size of your account and your buying power that you have to excess it from the broker again you have to talk to the broker how much money do they require to actively day trade how much leverage are they going to give you on your funds if you're new to the system you should start out at the beginner level and I tell this to everyone even if they have a certain amount of money then you move to intermediate and then you move to advanced by the time you reach the intermediate level you will gain the most benefit by having access to $100,000 in buying power which is not the same as $100,000 cash okay $100,000 in buying power though in an active day trading account will allow you to take very large positions in stocks will allow you to take positions in more expensive stocks will allow you to take an intermediate to advanced risk it's a nice round number there that I say that everyone should shoot for even if you can't do it right away that should be the goal and if you can trade with a broker right away that will actually give you that then more power to you that's a great way to start I still will start out as a beginner this is leverage which allows you to take a position in stock without needing the full cash value of it in day trading gaps you are flat each day by 4 o'clock eastern time and therefore the broker gives you the leverage by the end of each trading day you know exactly where you stand profit wise in your account and this really is probably why I enjoy day trading so much I just like that I just like that about day trading I know exactly where I stand I know exactly how much money I made or if I didn't have a good day if I happened to have a lost day I know exactly what it is it's contained in other words a lost is contained and so I feel at ease about that some people say swing trading is easier but for me I actually think day trading is easier you really got to learn what to read in the charts to know what you're doing in the trade to take the position to put the stock and to even wamp on the size because 6,000 shares is something is a big share size $700 or $500 risk is a big risk $500 risk is a big risk and you've got to know what you're doing or take that kind of risk and it's really all about the advanced skills advanced skills lead to more accuracy and accuracy leads to consistent profit and not only that to larger profit if you invest your time why is learning how to trade properly it will pay off for you over time part of the investment is learning advanced skills from a trader who has developed specialized techniques achieving your goal as a full-time trader who has the freedom to work half a day because I only work in the morning and then make a lot of money is very very possible all it takes is acquiring and learning the right skillset well then the market is possible through focus discipline and the right knowledge and this is why taking a class to learn the knowledge is a very powerful choice for you if you want to learn how to trade and actually make money in the market the choice is yours you can set your own path in life if you want to train for a living if you know what's going to take you to learn it I have no idea I don't know you, I don't know how your brain works I don't know how bright you are I don't know if you ever trade in the past I don't know if you have discipline problems I don't know anything about you so I don't tell people exactly the time frame but I know that you can do it if you want to and I know that focusing on it helps I know that jumping from thing to thing doesn't make it that it's possible and it's really just up to you because you can create your own path one of the reasons I love to trade is that I have a lot of freedom to do it much more freedom than I would have in a regular career I particularly love it in the winter months because actually it is cold in New York in the winter and if I had to go to a regular job I'd be commuting I'd have to worry about the snow or driving somewhere and I'd work from my apartment so I don't have to worry about any of those things I have a nice job environment I don't have to worry about the weather you can also make more money in the stock market than in a regular career because you have the unlimited earnings potential a lot of jobs you have a path like if you do this job and get promoted to this level above you and then sometimes you can even because you have to wait for that person to retire or quit or get fired and you feel like you're stuck then you're going to find another job of making money in the market has no set time frame you can start out doing well and continue doing well and do really really fast and start making more and never look back it's not like you have to wait and take the necessary steps like when you work at a corporation you have to put your time and your seniority all the stuff all the baloney of the corporate BS you don't have to deal with any of that when you work for yourself and you trade for yourself it's just you in the market and it's really about the scope and it's about you and it's you alone when you do it when you realize all the wealth in the market and then that the market has and how much money that you can make it really will change your perspective on things in life like whenever the first day that you really have the biggest day that you ever had whatever that happens to me like if you never had a thousand dollar day or whatever I call a common day if you never had a day like that where you day trade and you had that much on the live day then your whole perspective like that it was a long time ago for me it happened very early it literally happened like the first week I ever traded I don't know looking back it was a good thing because it allowed me to realize very quickly the potential for the market that I had and that really how much money was in the market but of course I thought that I knew what I was doing after that and at the beginning I didn't even though I made a lot of money to trade like that but I will tell you that if you've never made this kind of money that it is important for you to do it because of your confidence it really helps your conviction it really helps you stay with the system that you're doing again as I was saying earlier in the lecture it's really about earning power in today's world this is so vital it's what sets apart the people that are very successful and self-made which I talked about in the webinar last night and people that are not and that are reliant on other people other circumstances or want to make excuses I can't tell you how many people are out there that want to make excuses for everything well the market, well this or that or it's rate or stock didn't work or this or that and the person called the trade or the trading room or the class or whatever they want to say or I lost money from this every excuse in the book people will come up with you know what, own it own it when you do it I'm telling you if you are losing money right now you are not doing something right so own it and stop and figure it out and move on you can create what you want if you are constantly blaming other people or blaming something else for whatever then you are not owning it okay and you are not accepting the fact that your success is on you and you got to own your success which you would do if you were successful so you got to own the mistakes if you are making them too in order to figure it out what you are doing wrong and to change this isn't about playing the blame game that isn't going to get you anywhere so you got to figure this out what do I do let's figure this thing out maybe I don't even have one and I thought I did wait a minute let me think about this and you think about it now again as I was saying earlier the role of time in your advancement depends on you it really depends on you trading with me in the library helps it really helps you get up and running and ramped up redoing the class more than once if you need it but you really have to learn how to recharge and make money in the market because it absolutely is possible but I have a system I have a checklist I follow it I didn't take any trades today I didn't even rate any gaps today there wasn't even anything today that rated per my 26 point system I could have even traded I didn't trade I have a system I have a checklist I follow it every day and if you are interested in my math that I teach a class it's called the golden gap course it teaches the 26 point rating system the one minute chart is un-discussed and the course teaches you chart analysis and technical analysis on an advanced level on an advanced level that you won't understand you actually take the class it is a online class retakes are free it's a full two-day course on how to strategically find pick-and-play stocks that are professional bearish gaps you can flip the points to go long however I prefer to short so that's just my thing I really really love to short now why might you take the class to learn a strategy that you can use to make money in the market in the U.S. stock market if you don't have a strategy then you need one to trade and you need one that works consistently it also is a strategy that offers momentum in stocks and ETFs like the market also you learn how to trade gaps and you learn how to recharge with technical analysis and you learn how to trade on multiple timeframes so I'm going to George who asked about that earlier you learn the multiple timeframes you learn them but I like to focus on one mostly for the entries and the daily to pick stock and you'll learn how to read price patterns and charts that's going to help you determine what symbol to do and that's going to help you determine where you're supposed to be taking it where the support is where the resistance is where you put the stop where the target is all of that you've got to get one solid strategy to go to make money and you have to start making money and like I said if you're not making money there's a reason there's always a reason and you have to figure out what it is but instead of just continuing on and on and on and on it's very important to just get good at one thing you can't be a jack-of-all-trades at a master at none in the market and making money gives a conviction okay people say well you're so excited about what you do yeah I'm excited about what I do because every day I get up and I see something clear and clearer that I did yesterday I make more money and the next trade I do and the next gap I do that I did the gap before or faster or see it faster or whatever the case may be it continues to help my confidence level and there's no substitute like that okay if you're not with someone now that's teaching you the right method you can learn from me and take my class and you will learn how to read charts from me my class is a complete system that teaches you how to trade and it really is a trading plan a lot of people take my class and they don't realize it's a trading plan but it actually is you just follow everything in the class and it's a trading plan all you have to decide for yourself is then where you want to trade and how much money you want to risk for a trader in the live day and that's up to you but you've got to improve your chart reading IQ to make money in the market fundamentals are just not enough information and sometimes they will sway you off course of what you really need to be looking at if you find them valuable you can coordinate them both together but I would not rely on them if the price is telling you something different so again the class I teach is called the golden gap course the dates of the class are April 11th and 12th from 9 a.m. to 5 p.m. eastern time it's this weekend today's Tuesdays of the class is Saturday and Sunday class of the class is 34.99 if you're interested want to sign up I already have people registered I take a limited number of people in the class because otherwise I'd be answering questions till midnight but you can email me if you want to sign up it's at melissathestockswish.com I'm offering a special right now which is if you want to sign up for the class this weekend I'm doing an earnings season offer through Friday you can get 5 months free in the room you get the room free to Labor Day and the wealth manifestation class for free this is a savings of $1,649 it's a great deal I'm not offering this past this date so if you want to do the class this weekend or if you can't even do the class this weekend and you want to pre-register for the May class you can sign up for this you still get the room free through Labor Day and the wealth class for free and then you do the course in April where your schedule can allow to do it but this is a really good deal because you'd have 5 months to trade with me and that's invaluable it's invaluable actually because after you do the class you'd be in the room with me and just take my trades I was talking to someone the other day about this just do what I do just do exactly what I do after you take the class that's all you have to do it's that simple you sign up for the room you get the room for free you just do exactly the trades that I'm doing and the goal is it's not about charts but it's a great class which talks about trading psychology and again how your mind works and all of this plays a part in it your emotions, all the things I'm talking about when your confidence grows and you're making money and it builds on one another and it's a snowball effect that can work into the direction up or down so you obviously want to have everything going in the right direction in the positive direction and keep your energy high to do this to stay motivated because everyone has bad days once in a while and if your energy isn't high and you're feeling down on yourself or down in life or down in the market or like at worlds against you just even losing in one trade could spiral you out into a lost control of several losing days and you don't want to let that happen to yourself so you have to keep yourself in a positive frame of mind and this is what people do they lose money in one day and then they spiral out of control then they think that the markets read against them so I'm telling you don't let that happen to yourself be in touch with yourself enough to know where you are know if you're feeling positive or feeling really negative like ask yourself, talk to yourself, do the self-talk or talk to your spouse talk to your girlfriend, your boyfriend, your friend your best friend talk to yourself, write in a journal all of these things are very important so remember that charts are the path to profit and you've really got to learn how to read them to make money in the market thank you so much for coming does anyone have any questions I went a little bit over here in time today but I tried to talk very slow today and answer everyone's questions does anyone have any specific questions about anything at all they want me to go over or looking at any charts I can bring up or the market or anything about the class or leverage or anything at all I'm here, I'm yours for this time Beanie has a question from anyone else I need to determine where your stops are Beanie I do teach that in detail in the class but it's based on the chart it's 100% based on the price in the chart I'm not looking at indicators I'm not looking at any of that stuff it's price, it's based on price in the chart and I teach it in detail in the class but that's it it's not like I'm putting the stop where the moving average is or anything like that and that's what I'm saying such a reliance on indicators Fibonacci's two people love Fibonacci's as well I don't use any of those things it's all about the numbers what is the market, the market is made up of numbers that's it I figure out where to put my stops based on the numbers and I get it off the chart whether I'm going long or short and so that's why you have to learn what is in that chart in the numbers of the chart that is going to actually tell you where you're supposed to put the stop because if it goes over the stop or does something called violates the stop then you don't want to be in it because if it goes over or under a certain number whether you're long or short it's telling you that the price level isn't holding for that example point on the day and that it's not going to work like for example the cue come once the cue come went over that short number yesterday it wasn't anymore going to fall on the day or be a short and actually it ended up getting bought so therefore you would have not wanted to take the trade short over that number or you would have wanted to exit the short if you were already in it short at that number the number is what's telling you whether it's holding and again I'm using an example of cue come say if you tried to short it the holding of the number tells you the number that you would know to put the stop that if it holds that number the stock is weak and will fall if it does not hold that number then the stock isn't weak enough to fall therefore selling isn't coming into the stock or shorting or both and therefore it's not going to fall on the day and could actually get bought now sometimes the number is violated and it doesn't flip in the opposite direction but the number once the number is violated it's still off in the trade because it's not going to get what I call the play in it and will follow through like to really go here I'm going to bring up cue come just wait one second here I'm going to bring up cue come today because this is one