and it's just been building up. I got so many students that keep asking me and first of all, congratulations on the sale, you know? Thanks. It's a charm, which is awesome. A lot of people want to know if there's anything new that's going to be going on now with the new merger with TastyWorks. So I know you could probably throw on stuff like that, but- Sure, I'll talk about it. Sure, if you want me to. Of course. Yeah, I know, but we got a lot of stuff that I want to talk to you about and because I'm getting a lot of feedback from students and traders, you know, regarding about your take on even though watching your show, but as a day trader, they want to see what your perspective on it and stuff like that. But how's everything going? You know my rule. Nothing's off limits with me. You can ask me about anything you want. I don't care. Ask me any question. I mean, everything's great.  And yeah, I mean, I traded up a storm, so I'm ready to talk about anything. I got every market that's traded today. I was there. Well, you know what? It's been not too long ago. It's been a little while that you've been back, but and I guess one of the questions people always ask me is like, so what is your take on this whole, you know, Wall Street bets thing?  I was actually going to do a video on it and put it on YouTube, but I want your take on it because a lot of people don't understand like what happened with, not just the Wall Street bets of Reddit, but what was Robin Hood's goal? Like what's going on with this margin thing? Why would people get locked out? What were they worried about? Because people are worried about like opening accounts with other people. And obviously a lot of them come into you regarding it, but what makes you different that it can't happen with your, with tasty works than to happen with Robin Hood? Well, a couple of things. First of all, there are different topics, but I'll start off with the whole GameStop, you know, Wall Street bets, Reddit, the whole thing. And I won't spend a lot of time on this because I think we've beaten it to death, but I've done a bunch of interviews and podcasts and debates on this. I'm one of the people that's in the camp that believe that it was a very important moment. Historically, in the world of finance, I think it was a very important moment. And what I mean by that is I believe it was truly a transformational moment where the something that you and I have been working on for, I mean, since I've known you and since I've been in this space, which is almost two decades now, we have been working to promote the world of active investing, moving people from passive to active and making sure that people become engaged and they learn how to manage their own finances. To me, it's the most critical and one of the most important aspects of my life and my job and everything that I've been building for two decades. And that is moving people away from being passive because I don't think there's anything that's great about being passive into a world of active trading. And I think the GameStop situation, the Reddit, Wall Street bets, everything combined was essentially the perfect storm. And what it did was it was the coming out party, the official coming out party, even though you've been on this for two decades, I've been on this for two decades, we never were able to, let's say, move the masses. So I have a group of let's say a million people that listen to me and you have your own followers and your own clients and things like that. But we've never moved the dial to where it's tens of millions of people. And I think what happened with Robinhood and a few other like firms is they actually moved the dial and they engaged an entire generation, my kid's generation, maybe your kid's generation into the world of finance, which is believe it or not a great thing. And the problem with it was, whenever something great like that happens, it's usually not always for the right reasons. And like I said before, the GameStop situation to me was a perfect storm. It was a combination of very strong longs, very complacent shorts and a stock that was just easily manipulated. Now in the case of Robinhood, I actually believe that they played a huge role in this transformational binary event, which is moving people into finance. The problem was that they weren't big enough for the moment, like the moment overwhelmed them. And what essentially happened was, it was a combination of a bunch of factors, the moment, the regulators, the clearing, everything combined was too big for them. So they suffered a horrible reputational blow. Will they recover? Of course they will, they already have recovered. Is this gonna be damaging to the industry? No, it's not. Was it damaging? Was it at least did people question the integrity? And the answer is, of course. But other than a reputational blow to Robinhood, I think the industry actually performed quite well and I just think the moment overwhelmed Robinhood. Now, when I say overwhelmed Robinhood, what I really mean by that is Robinhood self-clearing. And one of the things when you go self-clearing is you have to spend a lot of your energy and focus on the clearing aspect of the business. And I think that the amount of capital required to cover the outlier risk in GME was so great by the regulators that they just couldn't keep up with the net capital requirements from the regulators.  I believe at fault, ultimately at fault, there are two parties for what happened. One is the regulatory bodies, specifically the SEC and FINRA because they have waited way too long for this to happen. The writing was on the wall for the last decade that we needed to move clearing and execution. Like when I make a trade with you, Falso, and we're trading options together, it's cleared the next day. If we're making a trade and we're trading futures, it's cleared same day or next day. If we're making a trade with options, it's two days later. And in the process of two days, a lot of things, it's too low. We can do things like today, we can basically transfer digital assets instantaneously. There's no reason to wait two days to clear something. So A, I blame the regulators for sitting on their butts for an extra decade or two and not getting it done to move off legacy clearing infrastructure into modern infrastructure. The second thing, and you're not gonna hear this from anybody else, is I blame the exchanges because the exchanges have not a fiduciary responsibility, but they have like a fiduciary responsibility to the retail investors.   And I feel the exchanges because they're the ones that make all the money, they're the ones that have the hundreds of billions of dollars of market cap. I feel they have an obligation to push the regulators to understand how much risk there was out there on the clearing side and to make sure all this stuff runs smoothly. If you wanna process 225 million quotes a second, if you wanna process, tens of millions of orders a day, make it so the system works. It's not that hard. It's just technology. And so I think the exchanges really ducked their responsibility and ducked out and really let the retail investor down. And I think the regulators did too. I think Robinhood one more second. I think Robinhood wasn't big enough for the moment. And I think that the rest of the firms, like Tasty, who had zero downtime and zero issues and a lot of the other firms that just, all they did was raise margin requirements, which is totally fine. I think they handle the situation pretty damn well. And I think the market-making firms, they got picked on like the Citadels of the world and I'm no Citadel lover or any high-frequency firm lover, but they make the system work and it worked. They made markets the entire time and the markets were good.  We had the internet bubble and one of the regulations they came in is, and this is my take. And I actually spoke to a couple of these, even politicians that I've seen. I said, you got to get rid of this day trading rule. Because let me tell you, it led to this. They feel like if you don't have enough money, you should not be allowed to day trade. So they had 25,000. But what did they end up doing to give you 100,000 buying power? I'm like, let me get some straight.  So I said, why don't you do this? And I said this from day one. And I knew they're going to get caught because this happens to me every single day, Tom. I'm going to tell you exactly what happens with two brokerage firms I trade with. Now, to figure the problem, just let them trade to cash. Just get rid of margin, just let them trade to cash. You don't have to worry about it clearing. But I know that these brokerage firms take a lot of money on margin. No, no, no. Here's the thing. So let me clear this up, because it's a misconception. Intra day, there is no margin. And for options and futures, there's no margin either. So the only thing that brokerage firms make any money in margin is, you know, on overnight positions. But they still give you a two to one margin if you hold a position overnight. Of course. Right, they shouldn't even give them that. It should just be cash. No, no, they should. No, I disagree with you on this one. They should give two to one margin overnight. They should give four to one intraday. I have no problem with that.  The rule makes no sense. You were right the first time. The rule itself is idiotic. The rule is actually disingenuous. The rule hurts the small investor because it puts them in a position where they can't get out of a position when they want to and need to. We have been at the forefront of, we got every single firm. Scott Sheridan, my partner who's on, I think he's on this call today. We have a whole team on the call answering questions. So if you have any questions, you can just type in the chats and the guys at Tasty Works on the trade desk will be happy to answer your questions live in real time. But Scott has put together a group of 16 different brokerage firms, everybody on the street. And we were in the process of getting rid of this rule when the pandemic hit. So we have been at the forefront of leading the charge to remove the pattern day trading rule and we're going to get rid of it. Period. Listen, you know what? If you want to, I think the best thing to do is, because I think we can start on a big petition. I mean, between all our families and stuff like that.  They made a mistake 25 years ago or 22 years ago for the wrong reasons they put that rule into place. Today it is no longer relevant. It is the number one sticking point they have. They know it's a bad rule. Here's another example of the regulators letting us down and the exchanges not stepping up to support the retail investor because if the exchanges join the fight, they're just so scared of Finra. They don't want to. A guilty to proven innocent. That's right.  So listen, I sit here as somebody that runs a brokerage firm and also we own an exchange too. And, but that's on the future side. But I will fight for every single thing we do is for we're an advocate for retail investors and that's never going to change. Just remember one thing about Tasty, unlike any other firm. We have no professionals, no hedge funds, no prop firms, no managed products. Everything we do is for self-directed individual investors, period. Just one last thing and I want to move on to the next topic. The reason why I bring that up about the margin thing because like if the stock goes up too fast certain brokerage firms have these algorithms that kick in that actually will say pending and would have to go to review. And I'm looking like, I'm calling them up and I have a direct line to the brokerage firm. Like you just locked me out of my trade. And meanwhile, this thing could be so volatile sometimes they just take off out of nowhere and you see what happened. And then all of a sudden they just lock you out because they had these algorithms kick in depending on what was the previous close and how fast it goes up. And they want to go through review because if it goes against them, if you don't have enough money in your account I don't know how they figure it out. They can get burnt. And that's what they're worried about. Okay, that's on you. You need to change your brokerage firm because we don't have. And I'm just telling you that is old school thinking. And it does not apply. Like at Tasty Works, we do not apply that logic. Well, the next thing I want to talk about I wanted to go about is obviously that's just that. That's just that we want, there's so many topics that just been so hot. You have this whole new stimulus package you got passed. And we all knew that that's great for the market because just more money for everybody to spend. I don't know what the long-term effect is gonna be because I always tell everybody every company's going out of business every three months because they got earnings to come out with. But with that said, I mean, there's a lot of industries that are really kicking up. And I know this is like your expertise. Ever since they, we were talking about this, every morning here at Cybertrain Barrier spending my morning meeting regarding about when they close down the Keystone Pipeline. It says, listen, they start closing that down. This whole new green deal they want to pass, energy stocks are gonna take off.  OXY, GUSH, I mean, NRGU is up 14 points. These things were up almost like 200, 300, 400% if you look at them. All these energy stocks, all these oil stocks, that was up in the VET, another one. I mean, these things just, just in November, they were $2, this is eight. GUSH is, you know, obviously all the stocks, reverse stocks was at 18 at 20, but like you're talking about, I mean, even OXI, I mean, OXI, $10, can you see my screen now? Okay, so GUSH is up there. You can see it, yeah, it hasn't had a downtick in, you know, five months. Right, GUSH, look at this one, the biggest one, I think NRGU, another microsite, a big oil industry.  All these oils and energy stocks are just literally on fire, just like more or less how we're looking at all the cryptocurrencies. A lot of people looking at cryptos and they can't trade cryptos, certain people, depending on what brokerage count, but, you know, we're looking at- Can we talk about that for just a quick second? Go ahead. So, because I don't know if you know this, but so Tasty Works is the only major brokerage firm, and I'm not talking about Robinhood, but I'm saying between interactive brokers, Fidelity, eTrade, TD Ameritrade, and Schwab. Of all the major players, Tasty is the only one where you can trade crypto, and I'll show you right now. So here is crypto, right on the Tasty platform. This is, we are the only ones that stream, now we obviously have the futures too, but we are the only ones that stream live cash markets, 24 hours a day, seven days a week. And this is Bitcoin, Ethereum, and Litecoin. And we'll be adding a bunch more coins, but like for example, right now, if I wanna go out and buy some Bitcoin, I just click here and we're open around the clock. I just filled the, I just bought $100 of Bitcoin, here's $100 of Ethereum, and here's $100 of Litecoin. And so we stream 24 hours a day, seven days a week. You do not have to worry about passwords, you don't have to worry about wallets, you don't have to worry about, you don't have to worry about moving money to Coinbase or a separate account.  And this is the only platform allows you to do that. Patrick said he didn't know that. Well, every tasty customer has access to it, all you gotta do is just check one box and say, turn on crypto for me, and it's on. And so we launched this a couple of weeks ago, we've already traded. I didn't know you had this, I'm just thinking about it, I didn't see this last time. We just launched it a couple of weeks ago, we've already traded on the platform $110 million of notional crypto in just the first two weeks. So our customers have been trading seven days, literally seven days a week around the clock in crypto. Wow, that's amazing. And it's all built, again, it's built right into the platform, it's super simple and every single tasty trader can trade it. You just go to the dropdown menu here where it says table, click on crypto, and this will pop up. It also, we also have Bitcoin cash right now too. So Bitcoin, Ethereum, Litecoin and Bitcoin cash. And then again, we'll be adding more coins to this and we'll also be adding other products. So probably- Is there gonna be any options already, any option plays on these? Well, right now on cash markets, it's not legal in the U.S. So right now there is no firm that offers options or the ability to short because in the U.S. the regulators consider cash crypto as being, as if you're gonna short it, you have to actually borrow something. And that means there has to be margin involved. And so then they consider it a future and not a cash market. And right at this point, there's no option market on it because it's a cash market that doesn't support the ability to buy and sell. You can only buy. So that has nothing to do with us. That's just the rules in the U.S. We are in the process of trying to look at different things. Now we also are one of the owners of the Small Exchange. So on TastyWorks platform, you can only trade Small Exchange futures on TastyWorks and on Interactive Brokers. And on the Small Exchange, we'll be launching a Bitcoin product, hopefully by June. And then it will have options on that Bitcoin product. So we're super excited about being the first exchange to launch a small, notional product. And you'll be able to trade it on Tasty. And like I said, also on Interactive Brokers, if you have an account there. Wow, that's amazing.  If I buy a, you bought that 100 shares through, where does that money go? Like where is it like? Okay, so I didn't buy 100 shares. I bought $100 worth. $100 worth. So crypto trades in dollars. You don't have to buy, you don't have to buy coins or anything like that. You just buy whatever, you know, I could buy, here I bought $100 before and now I'll buy, I'll click up, I'll buy 300 more right now. Okay, so that's another, so now I just bought 400. So it doesn't make any difference. So, and those are real trades, by the way, everything I'm doing is real. So the way crypto trades is, they now are taking that money out of my balances, okay? And they are transferring it to a, it's a secure relationship. So we own a piece of a company called ZeroHash, which is a digital asset settlement company. And what happens is that ZeroHash actually makes the trade with the market maker and then they take the money from my account and it goes into, you know, it goes into a digital wallet somewhere and pays the firm that made the markets and that actually sold me the Bitcoin. And then if they want to take the money out, you'll pay them back. Just goes back out the same way. Goes back the same way. And the cool thing about this is there's no trust factor involved. Like, you know how normally if you went to some crappy little, let's call it crypto company. Okay, okay. You're worried about it because you're worried about your money. So you don't have to worry about that here because we're clearing it, we're guaranteeing it. Now, how does blockchain get involved in that? Do you have anything to do with that when they do the trades through you? No, no, no, it's just, no. It's just, this gets traded. Everything, there are secure tokens and they are, they're basically just paid for. Just think of it like almost like any other transaction you make. You just buy something and it's tokenized. Yeah, it's a secure token and goes back the other way. Now, do you think, you know, and another question people always come up, what would happen or do you think that the United States will put regulation on crypto trading because in my opinion, if it gets too big and people start doing it through buying like burgers, hamburgers and stuff, I mean, because I always learned being in the trading business that the way banks make most of their money is obviously currency, you know, and the spread in forex and stuff like that. But, you know, what are they gonna do? Do you think that they would ever put regulation on that and that will affect it or no? It's gonna get too big right now. There's a lot of questions about that and I would purely be speculating, but what I will say is, I do not see cryptocurrencies as being transactional anytime soon by individuals like you and me and by anybody else that's listening today. I don't think you're gonna be buying a Tesla or buying a hamburger or a hot dog or anything else using crypto. You might have a crypto credit card where the balance goes into crypto, something like that, but generally speaking, it is not gonna be transactional. But what crypto will do is you have a lot of people on today and a lot of people you have listening today may not live in the United States, right? And so you have a big following all over the world. So let's just say that somebody's listening to this discussion today and they want to open an account of Tasty Works.  They nicked you for like a half to 1% going out. They nicked you for a half to 1% going in and it also takes like two days and all this process. It's very hard to fund an account and to move money around globally. That Canadians, I had that problem with Canadians. Sure, so what crypto is gonna do is they're gonna allow you to move money globally instantaneously in any, in using whatever, let's say use Bitcoin because that'll be the most, that's obviously the biggest marketplace and it'll be the tightest market. So you buy something, you'll use crypto to move $25,000 or $50,000 or $100,000 over. It's only one coin. You'll buy it and you'll sell it. Remember, we charge, we had the lowest commissions too on crypto in the whole world. That's a question, what is it? We charge 1% of the notional with a max of $10. So everybody else doesn't have a max. So we cap it at $10. So if you trade $100,000 worth of crypto, it's only $10. So if you move $100,000 from Canada to the US at Tasty when we're able to do this, it'll cost you $10. Right now, if you were to do it, it's gonna cost you $1,000 if you use JP Morgan. Right, okay, so that's, it has a practical application for moving funds. And the coolest thing is like, so I just bought a bunch of crypto just while you and I were just doing this but it also just fits in my position and it's also not correlated to my stock positions or my option positions. So it has this kind of non-correlated, it's a non-correlated asset. So it's a really nice diversification. The reason people tend to not buy crypto, generally speaking, is because they just don't wanna deal with moving money out to some other third party cash broker. And this way, when you can have it built into your entire portfolio, it's super cool. Well, I think you're right, that's one of the biggest issues. I think that was a big issue for everybody that didn't want their cryptocurrency.  That's right, but now isn't it easy? You can just do it right on Tasty Works. And listen, we're just the leader. Everybody else is gonna have this. People are seeing what we're doing and every firm is gonna copy us. But like I said, we bought our own digital asset settlement company so that we made sure that we controlled the whole process and we feel really good. Listen, whether crypto is here to stay or it's not, I mean, I'm betting that it's here to stay, but I have no idea. I mean, how well it becomes integrated and embedded in our society. I think there will be a central bank somewhere that is the first to really integrate crypto. You're seeing it basically happen around the world, but nobody has taken that next step over the line yet. I don't know if it'll be China. I don't know if it'll be some other country. Maybe it's Estonia. I mean, who knows, but maybe it's Canada. Maybe it's the US. I really don't know, but somebody's gonna do it. And the question then is, at what point and how far does it go? I will tell you this, Falstow, which I think is really important. We are just beginning to scratch the surface when it comes to alternative assets. You're seeing it now with NFTs. You're seeing with other things like that. So you're going to get alternative assets that are going to play an important and prevalent role in trading and in investing. So this is not something that's gonna go away. All right, well, so where do you think it's going? Where do you think it'll probably end up going? I mean, I don't know if crypto, I don't know if, I mean, I'm not long Bitcoin here at $57,000. I think it's ridiculously expensive. You're long 700, 400 bucks for what we saw. I'm longer than that, but that's not, I'm not officially long crypto here. I just traded back and forth, but the reality is that, I just wanted to show you how easy it was on the platform, but the reality I think is like, listen, I think it's expensive right now. I think $57,000 is expensive. I think Ethereum is expensive. I think Litecoin is expensive, but I think the product's here to stay because I think alternative investments, just like you're seeing non-fungible tokens take off, I think you're seeing that there's an appetite for risk. Like you saw what happened today in GME, right? You watched it. Oh my God, it just fell out of parts. It's like, I think it took off, it's doing great and all of a sudden, see that was my question I was gonna ask you about crypto because people always ask me that could that happen? I mean, it does happen to crypto, but it's not, you can't short it. You can't short crypto. Yeah, there's no shorts in crypto, but here's the thing. So let me ask you this question. So GME got to almost $300 and something today. Almost, okay. Almost $350. Let's just say if it closed around, where to close it, I don't have it right. Close that to 266, 265. So let's just say it closed at 266 right there, perfect. Would you rather, because 100 shares of GME at 266 is 20, let's call it 27,000 bucks. Would you rather have 200 shares of GME at $270 or two Bitcoins? I think I probably would rather have two Bitcoins. Of course you would. Everybody in the whole freaking world would. So then maybe Bitcoin's not that crazy. It's not. But listen, I trade this thing all the time. I know how this is like a crack stock right here. I mean, of course. Of course, but it is what it is. So 270 bucks. And so we sit here and say Bitcoin's too expensive, but you know what, I'd rather on Bitcoin than GME. Well, I just know that watching, I mean, listen, everybody's getting into it as in like a lot of mutual funds starting to buy into it, a lot of banks starting to buy into it. I mean, I must put into a ton of it. And he was like throwing like little hints on his little Twitter saying, hey, look at Bit, Bit, Bit, and it all started like two weeks later.  When you're the richest guy in the world, everybody has to listen to you. I gotta go get a lot of credit, man. That's great entrepreneurship. All right, so listen, the next question I was gonna ask you regarding Bitcoin, but so what is your thoughts on like, what's with all this regulations going on? I mean, have you watched any of these energy stocks at all and see what's going on? I am trading some of them, not the smaller names like you trade, I don't trade a lot of that stuff because I mostly, but I did trade like for example, some XLE today, I traded some crude oil, a bunch of crude oil yesterday. I traded the futures yesterday.  Where they're going though, that's the question. I mean, like they're breaking... Well, I'm just selling a bunch of premium in there. I'm not bullish on them per se. I'm actually bearish on crude oil here. Yeah, yeah, I'm short. I'm Delta short and crude oil, but I'm mostly short premium. Okay, I don't know.  These things are breaking all-time highs and they're saying what gas is going to go to $4 gallon by the end of the year. And it's just, when you look at it... Well, natural gas can't get out of its own way. And if you're looking at, you know, the hard thing for me about crude oil and gases, you know, I drive a Tesla now. And so like, I don't buy gas anymore.  You know, so it's the weirdest thing. Like you kind of lose track of, you know, like I don't go to Costco anymore to buy gas. Please, I love that store. It's my favorite store. I max out my money all the time when I go to Costco. Oh, no, no, I love Costco. I just say I don't buy gas there anymore. I love it. Yeah. I was going to park my boat there actually. I was going to be scared to go to a boat. So anyway, regarding about the options, Blake, you know, another question someone came to me and asked me and it was a really dumb question. But you know, a lot of people are trading stocks and they didn't want to learn how to hedge themselves, but they get nervous to trade an option because they hear how speculative it is. Could you just explain somebody for a newbie to come in? What's the safest and easiest way to understand how to do just the basic option, you know, on a stock?  But like just do like a basic, so someone could like learn how to get into a trade and understand like, okay, where's my option going? How can I track it? Okay, well, here's the cool thing about our platform. We are indifferent. And let me back up for one second and explain what I do for a living because I think it's important. So I believe that my role as the CEO of Tasty Trade, which is our network, but we also own Tasty Works, which is our brokerage firm. We also own another brokerage firm called Dell. I believe my role to individual investors is to facilitate opportunity. So Fausto, you're my customer and my role to you is to provide you with the best technology in the world, the fastest technology, the best content and most importantly, access to every product and every strategy. It's not my job to tell you what's gonna happen next in the market or anything like that. What I feel my role is to Fausto or any other, John Smith or John Doe, whoever else it is, is to facilitate opportunity and you facilitate opportunity by providing a platform that offers everything like digital assets, options, stock, futures, options on futures, we offer everything. And that way the customer can decide, hey, what strategy do I wanna use and what underline? Now the other cool thing about what we do and you know this is we don't have any restrictions as to what you can do regardless of account type. So if you wanna trade anything you wanna trade, you can trade in any type of accounts. You wanna trade in IRA account, go right ahead.  You wanna trade a future futures options in an IRA account, go right ahead. We're the only firm that doesn't have any restrictions as to strategy, product or account type. Now that's super cool because that's what we mean by facilitating opportunity. And then we give you a killer content behind all that. So why are like all banks and brokerage firms so old fashioned and don't all do it? Cause they don't, none of them really do it. Of course they don't. A, because okay, I'll ask you the next question which I love to put out there, which is most of these firms are run by people that don't, they're managers, but they not junkies. I'm a junkie. This is my business. I live this business. I'm gonna throw your question to you. Name the CEO of another online brokerage firm. Another online brokerage firm? You name me one CEO. I really don't care. Name me the CEO of E-Trade, Schwab, Fidelity, TD Ameritrade, name me the CEO. Someone said Victor Jones. Did I get away with that? No, he works for me. I have no idea. I really don't care. I'd be honest. Of course you don't. And you know why you don't? I'm a junkie. Guys, trade, and you asked the question a second ago, you asked the question of why don't they offer all these products? Because they don't trade. That's what it is, trade. And you don't think like a trader because you're telling, because you know as a trader, and I don't like to compare this to gambling and stuff like that, but you just know the leverage. Well, how about if I do this or I could do that or it could be do this way. Because everybody doesn't take the approach that we take which is to facilitate opportunity. Most firms, their goal, their firm objective is to make money and take the least amount of risk doing it. Our objective is to provide an opportunity for the customers to do whatever it is they wanna do so that they can potentially make money or have opportunity. And it's our job to facilitate that. And so we go way beyond what any other firm does. Now in the process of doing that, now you asked the original question of like how does somebody do that with options? Well, you see to me, I'm product indifferent. We do about 80% of our business in options and about 20% in a little less than 80% in options, a little less than 20% in futures and futures options. And then about a couple of percent in digital assets and a couple of percent in stock. And the reason that we do it that way or the reason that active traders gravitate towards that is because stock is very capital inefficient. And when you're talking about 2021 which we're in right now, capital efficiency is really the difference between how many different things you can do. Not everybody has unlimited capital. In fact, most people, their biggest restraint is capital. So we focus on doing things that are capital efficient. So let's use a stock, a cheap stock that had earnings this afternoon, AMC. You probably trade this, don't you? If I trade this morning, I did really well. Thank God I got out of that thing. That thing was just... Yeah, well, when GME broke down, AMC broke. And the other one, Kersh, you see Kersh, K-O-S-S? That was the other crack stock out there. Yeah, I don't trick down that one too. But so AMC rallied up this morning, I traded up to like 11 and a half or whatever, but so a couple of things here. Traded 255 million shares, so it's totally in play. But like the person asked, they said, well, how would you trade the stock if you were gonna trade stock versus options? Because you asked that question, right? Right. Okay, so let's just open up a few April options here, just as a... I don't need this many, but we'll just open up a couple of April options. So this is the tasty platform, and this is the current stock price here. Now, again, this particular stock had earnings this afternoon. I think the earnings must be out. It's up about 50 cents. So there's 37 days to April expiration. The implied volatility is right here, which is 230%, which is huge. It's gonna come down tomorrow. And here's the cool thing. We show you the expected move over the course of the next month, which is $4.91 or $5. So the first thing that we give you is context.  And the context being is, what do all these numbers mean? What do all these prices mean? And essentially what they mean is, this stock's gonna move because it's just like the most efficient marketplace in the world by breaking down all these numbers in a black-shells model, we can figure out that the expected move over the next month, it's like a bookie making a line on a football game, is just under $5. So if you were looking at this stock right here and it closed at basically at $10, you would say the high it's gonna get to at the end of, the high it's gonna get to by the end of the next, oops, I'm sorry, did this wrong. The high it's gonna get to by the end of 37 days from now or April expiration is about $5 higher. So from 10 to 15 or $5 lower from let's call it 10 to five. Okay, that is the range of this stock over the next 37 days. And one of the cool things about options is they afford you the ability to see that because they provide context around where people are willing to place their bets. You can also see this in something we call the curve mode. I actually can't see this right here because it's a little, let me tighten this up. Okay, there you can see it. Just wide this up just a little bit. I'm gonna make this a little tighter by switching. Hang on one second. Let me just move this in so you can see this just a little bit better. Hold on one second. Let me just make this a little clearer. So hopefully this will come up a little clearer this time. No, I can't get it. When I'm on Zoom sometimes it doesn't, I can't get it to, I can't get it to the extra it uses up too much bandwidth or something. I'm not sure what it does, but I'll go back to this for a second. Let me clear this. The expected move is between 15 and five. And so when we look at expected move, that gives you an idea of what to do. But now let's say Falsa, bullish or bearish in here, AMC. I'm bearish. I can see things trending down. I see big orders coming in right now. Okay. I mean, it's the this 50 cent move I grew with you means absolutely nothing. I went home flat at tonight. I just traded it for earnings and I sold a bunch of at the money strangle. So we'll see what happens tomorrow.  There's a couple of things you can do. The classic bearish play if you were just trading stock is you would short the stock, right? Right. Okay. That option, that's what they call it. Yeah. So you short the stock. So you just click on the bid that sells stock. And if you wanted to use an option to combine it with short stock, if you were buying stock, you'd sell a call. But if you're selling stock because Falsa is a little bearish, you'd sell like for example, an out of the money put. We call this a covered put. That's probably one of the more conservative plays. And as you can see down here, it has this, we show you the Greeks. So this is your probability of profit pop. It has a 73% probability of profit. Now, why did I just bring that up? Because you said, show me how somebody who's never made an option trade before might make an option trade and why they would make the option trade. And if you just outright buy or sell stock, it's a 50-50 shot. Right. If you add a short put to that short stock, it goes up to being a 73% probability of profit trade because you are improving your basis. And then all of a sudden, the reason somebody would do that is for a higher probability of profit. So if you have a higher probability of profit, what's the downside? Well, you have a fixed amount that you can make. That's all. Instead of unlimited profitability, you have a fixed amount that you can make. But that's one way to look at options. That's the simplest way. But how else can you do without even buying the stock? Well, for example, if you're bearish, like Falsa said he is, you can buy the 10 puts and you can sell the eight puts. Now, if you did something like that, let's make it actually a three point wide. Let's buy the 11 puts and sell the eight puts. Now, in a situation like this, you can buy an in the money put spread. We call this an in the money put spread. Buying the 11 puts, selling the eight puts, you can go to $3, you pay around $2 for something like this. So you can risk two to make one with a 66% probability of profit, that kind of a trade. You can do something, for example, if you're bearish, you can sell the 11 calls and buy the 14 calls or let's buy the 12 calls, let's make it a little shorter. You can sell the 11s and buy the 13s. And so you can sell a call spread and you can put up $160 to make $40 with a high probability of profit. There's a lot of different choices that a customer can make that are capital efficient. Like if you buy 100 shares of stock, you have to put up $1,000. If you do this one spread, you have to put up 160. So it's about capital efficiency and that's why people use options. That's why they're so popular. That's why they're growing at 50, 100% a year compared to other products like stock business hasn't grown at all. But the option business has grown by 40, 50 or 60% a year. The futures business has grown by 30, 40, 50% a year because they're all the exact same. They're just more capital efficient. Let me show you something really quick. SPY, right? If I buy 500 shares of SPY, see 500 shares here, at $400, just under $400 a share. This is gonna cost me, okay? At $400 a share times 500 shares, this is gonna cost me $200,000 to buy 500 shares. Crazy, right? If I delete this and I buy one S&P future, one future, 12,000 bucks. So let me show, they're the exact same thing. If I buy 500 shares of SPY, click on the offer, buy 500 shares, it's almost, the buying power for this trade is just under $200,000. Now I can borrow half of that, so I only have to put up 100,000, but I have to pay interest on the balance. But I can only, I can do it for 100 grand. But if I decide, hey, you know what? Forget this, I'm just gonna buy one S&P future. I am literally only putting up $12,000, and all the borrow costs are already in that. So if I- What about the spread? What? What about the spread? What's the cost in the spread? The spread is, the spread between the bid and S is $12.50. $12.50. That's it. Okay. Okay, the entire spread is $12.50. If you buy 500 shares of stock, the bid S spread is $2, there's two cents. And that means you're gonna pay $10. Right. So they're the exact same cost. Same thing. Okay. They're the exact same cost. Classic. The difference is that if you, when you buy the future, the carry costs that mean the margin costs, everything are already built into this price. So you're still only paying $12,000. That includes all the dividends and carry costs. When you buy the spies, you have to put up 100 grand and borrow 100 grand at a higher interest rate. But you can also use ES options, which are all these options here, which are futures options, or you can use SPY options if you so desire. So the other reason that somebody would, for example, use options is, you could decide, hey, you know what? I'm just gonna go buy these 50 Delta calls and to do the equivalent of 500 shares, all I gotta do is buy 10 of these. And so for $8.50, let's say, or $8,500, I just bought the equivalent of 500 shares of stock. So I can buy the options and use 8,500, but I have premium risk, but that's still, that's the exact theoretical equivalent. So somebody asked you before, why would you use options? Because for $8,500, I can buy the exact theoretical equivalent. Perfect. Absolutely theoretically to the penny for $8,500, or I can use $100,000 cash and borrow $100,000 cash, or I can use $12,500 and buy the future. Now that's why people use derivatives. It's for capital efficiency because there's a final piece of the puzzle. The more capital efficient you are and the more money that you don't spend on just using stock trades, and remember stock trades intraday could be four to one. So if you scalp intraday, it's a little different, but that means the more trades you can make and the more trades you can make means the more efficient you can become, that's the law of large numbers. The more predictable your outcome will be. So anyway, I went off on a rant there, but hopefully you understand. Oh, I got it. Now just one last question about, could you day trade options? Of course, but hold on. Options, if you day trade the same option, they fall under the pattern day trading rule because that's a general rule, but you can buy one and sell another one.  If you pass a day trade, if you have the one to 25,000 on day trade or... If you're, first of all, if you're over 25,000, nothing comes in play. Nothing affects you. Okay, if you're under 25,000, if you buy and sell the same option, that counts as a day trade. That day trade, right? If you buy one option and then just sell a different strike, that does not count. Okay, all right. Or, you know, now the other thing too is futures, futures options and digital currencies do not fall under the day trading, pattern day trading rules. So you can trade as many futures as you want. You can trade as many futures options as you want. You can trade as many small exchange futures as you want. You can trade as much Bitcoin in and out as you want. None of those fall under the pattern day trading rule. Well, the only thing that people always tell me about the futures, and you said this last time in the show, and actually I tell people this at the same time. I've been saying the same thing. They always feel like futures is a lot more riskier than just to trade the equity itself. They are the exact same thing. Difference is, the difference is if you don't understand the notional size of futures, that's where you get into problem. Like, here's the difference. If you're gonna buy, just as an example, if you're gonna buy Spice, okay? And you wanna buy 100 shares, all right? You have to trade the micro futures. You can't trade the ES because those are 500 shares. And a lot of people don't realize the notional size difference. Like, for example, you know, if you wanna trade, they're notionally, the average future is $100,000 in notional. And if you only wanna do, let's say you wanted to trade, I don't know, let's say you wanna trade 100 shares of AMC. You can't trade 100 shares of AMC and then do a futures contract against that. But there are micro futures now. So you can trade, for example, MES, which is this is only 50 shares of spiders. So if you normally, you wanted to trade, let's just say as an example, normally you wanted to trade 100 shares of stock, you can just trade two micro futures. Go to two and you can see here, only requires $2,400. Now, if I bought the stock outright of two of these, it would, the requirement of 100 shares of spiders would be $40,000. The requirement for the exact same equivalent is 2,400 if you use the micro futures.  This is like the same thing as IWM, but this future is the only equivalent of 16 shares of spiders. So you can do 500 shares using futures. You can do 50 shares or you can do 16 shares. It's super cool. All you gotta do is learn about this stuff because it's all just math and it's not very complicated. Well, when I teach my students, I always tell them, says, listen, the best way to learn anything, like when you're trading, like you just mentioned, and you said last time, I was gonna say, just buy less and trade more. That's like- Yeah, just do it. Yeah, just do it, just do it. And don't get off this damn demo mode because demo, the only thing you're using it for is just to learn the platform. Buy one stinking share. Like people like, I'm a little nervous. Buy one contract, I mean- Exactly, buy one contract, buy one share of stock. Buy one share of stock. What's the worst thing that could happen? You lose? You know what I mean? Like that's part of- And we don't even charge commissions for stock. It's free. There you go. All right, Tom, I know we ran out of time. Just one last thing, I think people are always asking. And by the way, I know we talked about this earlier. We couldn't talk about it, but I definitely want to meet up with you. I gotta show you this level four thing. If we can get this thing on your platform, I think I'll send you thousands and thousands of traders.  I probably could be with you, but it'll blow your mind if you could just implement it. It's pretty easy and your competitor is already doing it. So we gotta figure something out. Okay, we'll take a look. But the last thing I wanna mention to you is like, before we go until we meet next time, what is your long-term feeling about the market because now we broke all-time highs? Is the stimulus package gonna do anything? I mean, what should we look for in the future?  I am not a person, I'm an efficient market theorist. What that means is I believe everything that's out there is built into the market pricing. So I'm not one of these people that believes in fundamental or technical analysis. That said, I am someone who I watch the market basically. I think I've traded for 10,000 straight days. Like in other words, for 40 straight years, I don't think I've missed a day. So I'm a total junkie. And I'm still not right anymore than anybody that's been doing it for two days. Like I think I'm 100 times better and I'm not any better than anybody that's been doing it for literally two days. That's how difficult it is to pick anything. But when I look at this market here, I think it's, I'm very happy that it just had a nice little correction. I think we are in for a lot of market chop, but I believe that the real risk is probably that I think the risk is actually a little bit lower, not higher. I don't think we're in crash mode yet, but I think if you're looking for like, where is the outlier risk? I think that the way the market's trading to me and the way the SKU is built up in a couple of these really speculative stocks, like the game stops of the world. And the way a lot of the past market leaders are just acting so bad. I think that the market has a little more downside than it does upside right now. So I'm looking over the course of the next couple of months for the market to trade in a range, maybe five to 7% downside, maybe two, 3% upside. I feel that I see 2000 happening all over again. I'm not saying that we're gonna have a crash or anything like that. I just see that with the whole thing, that people staying home and people have to make money. I'm just finding that more and more people are just saying, you know what, what's another alternative? And they're just going to the stock market. And when you have more buyers than sellers, you're causing more liquidity and the stocks are going up. So, and that's what I'm seeing. Like people like, I remember back in 2000, watching these financial stations and people like these mutual funds were complaining, like they just keep sending us money. We got to buy something. We can't just, you just can't hold on to it. They're like, I don't want to buy that thing's a fortune. I'm not going to spend, it's like buying a Tesla for 200,000. It's like, you know, it's only worth 50, but they keep getting that a hundred. You know, you got to keep getting all that money. And I see that happening now that just like, more and more people are just keep asking, just want to get more into it. Like you said earlier, if they could just get rid of this, this dumb day trading rule for certain people, cause I know it doesn't make sense and let people just let the markets trade its own. Yeah, I could see probably going higher. My concern is just that with all the stimulus package going in, they're going to bail out a lot of these people. And then what happens after that? If the economy doesn't come back, I mean, we can ask for more trillions. So I see the economy coming back. I mean, I see, listen, I just booked, I just booked a plane ticket for my, I don't know if you flew recently or wherever. I just booked a plane ticket to Florida. I can't believe how much money it is. I can't find a hotel anywhere. I mean, I thought you can get a plane ticket from New York to Florida for 30 bucks. It's not even existing anymore. It's like 500 dollars, 600 dollars now. So I'm like, buy the airlines and the airlines are doing great.   You know, we don't give gifts, we just give money. So what I tell everyone is this, don't buy them the gift. Go open an account of Tasty Trade, put $200, buy something that you like and just leave it alone and let them know. And trust me, it probably will be worth maybe two, 3,000 when they're 18 years old. You want, like I taught kids when we talked about buying a silver coin, I gave the kids a silver coin when I was paying $11. We talk about this all the time. We joked around it when you were down, when you bought that, I don't know, the $4,000 block of silver that's at your mom's house, something like that, you told me. They use as a paperweight to hold the door open, I think you told me. But you want to teach people how to make money. I mean, and it's making the new generation of kids in this world starting to realize, you know what? They're going to have to trade regardless.  Don't let the parents use it, pay the bill off, buy them something, open an account of Tasty Trade and do it. That's the way I look at it. It's a new paradigm. It's a new paradigm. We've engaged an entire generation of tens of millions of young kids, which is awesome. And yeah, I think everything's going to change forever. So it's exciting. It is, it is. Tom, thanks you so much for being here and everyone don't go anywhere because we're going to be right back. I'm going to talk a little bit about the market too. I'm going to tell you what's going on. I'm going to take on your questions and go from there. But we're going to send out a link to everybody to watch the recording. This has been recorded, so you can get back and review it, share it, tweet it with your friends. And once again, we'll post a link up there if you want to get in on one of the promotions that we do, which Tasty works, so please click on it and open it. Like I said, you're going to have to try a couple of brokerage firms out there, different platforms. And you know what? We love our stuff. Anyway, thank you everybody for listening and thanks. That was a great conversation.  I love it. There's a ton of energy. So take care, everybody. Stay safe. And Falstow can't wait till next time. See you, Tom. Thanks, everybody. All right, everyone. Just stand by for a second. Let me just take over the screen from Tom. Just give me a moment here. There we go. Hold on one second here. There we go. All right. Could everyone see my screen OK? Just give me a chat back if everybody can see it. Fine. All right, perfect. All right, so anyway, let me just blow this up a little bit bigger so you guys can see a little bit better here. And let me just pause it so we can restart the recording again. Get my pointer. There we go. All right, hope everybody can see that OK? Am I sharing the wrong screen? Hold on one second. Yep, sharing the wrong screen. There we go. Screen one. All right. Is that a little better? There we go. All right, good, good, good. All right, so anyway, listen, Tom's been a really good friend of mine. Like he said, we've known each other for two decades. And you could see, listen, great traders surround themselves with great traders. And that is very important. And being endorsed by certain brokerage firms, believe me, they do background checks. They want to make sure that when you're referring somebody that you know what you're talking about because we all have a very good niche. We don't do everything, but we have a niche in something. And I want to kind of talk a little bit about what Tom talked about. I want to be able to answer somebody's questions here. And I want to show you a little bit about what the strategy that I use moving forward in today's volatile markets because I'm going to teach you guys basically the art of what I like, what I do here. Tom is from Chicago, so that's why he's such a great options trader. He basically ran that whole floor down there on the merchant exchange.  And if you heard what I was saying earlier, I don't know if you guys will listen closely, but remember I was talking about total level four. Well, his competitors are starting to use it. I'm going to talk to him. We're going to get it on there. And when I show you this platform, and like you heard what he said, he does everything to give you everything, to give you the edge when it comes to trading so you don't get chinstouched out. Just like I did. Some of you, my students out there, and you know, sometimes I'm on the phone, I'm like, I just got locked out of a trade. And like, why did they do that? Robinhood, locked everyone out of the trade. Why did they do that? So you obviously don't want to be in that predicament, especially when you're dealing with certain brokerage firms, because you can't get them on the phone. So I want to talk about what the strategy is. I'm not going to take too much time, probably going to go about 30 minutes. But what my goal is today before everybody leaves is I want to invite every one of you to come in to the original day trading room that I started 25 years ago. So everybody's going to get an opportunity to get into that room. You're going to see us trade in the pre-market. You're going to hear our do live commentary. But I want to show you what our whole thing is about trading.  A lot of people try to do it. They blow up their accounts. They don't know why they get involved in it, but there is a very high risk in trading. So please make sure you don't go out there and risk what you can't afford. You know, listen, if you're, you know, somebody that's a bad gambler and just keeps barring money at the same for you, all right?  Now, what are we going to basically learn? I'm going to talk about how to find the best stocks to trade. I'm going to talk about navigating through high frequency trades. I'm going to talk about discipline and finding also how to read level two, level three and level four. We're also going to talk about trades and exits and entry points and most importantly Nasdaq market makers' biggest tricks that you don't know about. How do I know about it? Like I just said, I, it's one of them. Now remember trading fellow traders, this is a game. It's all it is. It's a game. You just got to know how to play the game. And you know, I've been a regular guest speaker at the Nasdaq center talking specifically about what we're going to see here, which is called Nasdaq total view. Now, everyone's going to be able to get this. Nasdaq wants you to use it. And you're going to see that if you're trading the stock market, you're going to see how this is going to help you to see all the data. So let me, let me just do a quick poll really quick right here. And let me just want to make sure this, I'm going to launch this poll. Now, could you guys just tell me anybody here have level three access? So just give me a chat and let me know. Do you have level three access here? Yes, no, maybe whatever it is. Not sure. Selik, could you put it in the chat because I'm going to share it with everyone. It's nice. Now all of a sudden, you guys could be engaged in a poll. See how you all answered this? All right, I'm going to stop the poll. I'm going to share because I can't wait all day here. All right, so you can see that literally almost 60, 70% do not have it. All right. Moses, if you can't hear, raise up your volume. I can only speak so loud. I mean, I'm from New York for crying out loud. We speak loud enough. I scare people for crying out loud. But what you have right there is you could see the power of how many have it and don't have it. Now let's think about this for a second. If I'm able to show you where 70% of where the buyers and sellers are, if you could see where all the high frequencies are, if you can actually, if you know what I'm talking about, I could show you where all the algorithms are happening. How much smarter and better trading decisions would you have? You see my strategy is I don't use indicators. Okay. I don't use special platforms and software. I just follow the money. That's it. Now, how do I know this? Because I'm one of the original day traders. I've been doing this for over 25 years. If you're reading the old books, I'm one of the original sales bandits. So if you're trying to see, you hear about all these day traders that come out. Well, guess what? I'm the one that started it all. There was only about, not that start. It was about a thousand of us. I could say now that there's over a couple of hundred thousand. So nothing really has changed other than technology got a little bit better. Now, I founded Cybertrain Diversity because I'm here. The way you become a very successful trader is I trade with my traders. So when I actually left my brokerage firm, I was an entrepreneur. I was thinking about bigger and better things. Like Tom told you, I was a junkie, but I hate getting ripped off from the brokerage firm because they were banging this out with ticket charges. They were charging me desk fees, all that. But you know what I learned? I learned enough that they show me how to play the game. Once I learned how to play the game, I grew up and I moved on. And a lot of you probably don't know that. So I'm basically gonna go out there. I wanna show you basically the strategy of what really has not changed. But before I do that, I wanna do another poll. And I wanna know what kind of trader are you? Are you a stock trader? Are you a options trader, futures, forex? Just see how you guys answered this question. What kind of trader is everybody? Just wanna see. And guys, don't be shy. Nobody's gonna yell at you, make fun of you. See how you are compared to everybody else. All right, so we got a lot of options traders, a lot of stock traders, few rex and the poll. I'm gonna share those results so you can see where you're at. So you could see that, a lot of us are trading a little bit of everything. So let me kind of explain my thought about this. If you're not a good futures trader and you've been doing it for more than 30 to 60 days, you might wanna consider trying a different market. If you're not doing well in options, you've been doing it for 30, 60 days. I mean, you saw one of the best in the industry right there talking to you. And not all of us could be as good as him, but to be good as him, you have to trade as much as he do. But if you're not doing well after 30 to 60, maybe 90 days, maybe you should try a different market. But the thing is you're in the stock market. So if you're doing something and I kind of use the metaphor, if a doctor puts you on medication and you're not getting better but you're getting worse after 30, 60 days, you're probably better off finding a new pedication or finding a new doctor. More tend to better find a new doctor. But that's basically when that comes down. Now, the question, why are you here? And the question I always tell everybody, you're not here to learn how to make money, you're here to learn how to stop losing it. One of the biggest reasons why people trade is they don't wanna learn how to find that crystal ball. Did you ever thought for a second, maybe I should learn how to stop losing? Does anyone ever taught you that? Because that is about 80% of what we teach. We don't teach people how to make money. That's easy, because the winners take care of themselves. It's the losers, people have a problem. They don't know how to take a loss. They don't know if things go against them.  Listen, if you fall, we've all fell and some of us fell pretty hard. And in business or in anything, it hurts. But if you don't know how to get back up and start over, you're out of business. You can't be on the floor and sit there and get knocked out because you're gonna get knocked out. But getting knocked out makes the best out of us. And that's how you have to learn how to trade. Now how to do that, you gotta always ask you, who really trained you? So let me ask you, let me do another poll. And I only have about one more after this. I'm sorry, I don't wanna drive anyone crazy, but who really trained you? Are you self-taught? Did you take any paid courses? Do you have a coach, a mentor? Just let's see how you answer that. And by the way, no one could see anybody's what you answered. I can't even say it. I just wanna share with everybody else because trading is a 90%, let's say 80, hate saying 90 kind of hurts, it's an 80% failure rate because everybody thinks you could watch it on YouTube and you could read a couple of books and what do I have to lose? Listen, it doesn't work that way. Trading, education is not as expensive, people think it is. That's a misconception, but you gotta surround yourself with good traders. And you could see that there are a lot of you here that are self-taught.  What makes you any difference?  You better off doing that yourself, but you gotta know what they're talking about, all right? So you gotta learn before you could earn and that's the biggest goal when it comes to trading. So let's begin. Did you guys see the stock can today? Anybody see KAN? Anybody trade KAN? KAN, what does this company do? I have no idea, but look at this chart right here. I want you to look at this. This stock from 9.30 went from $22, up in 10.30 ran to 26, and then it ran from 26 at 2.30 all the way to 30. If you bought $1, $1 of that stock, if you made, I'm sorry, if you made $1 on 1,000 shares, that's $1,000, it's a quarter million dollars a year. Stock moved literally $8. What about 50 cents? You couldn't find 50 cents in that stock anywhere? You could have chased it, she's old day. You see, you don't have to make a lot to be very successful at it. And there's a lot of things that are moving, but the question is, how did you find it? Where did it come up? Why did it go up? How did you know it was gonna go up that high? Well, what you need to do is follow the smart money. What do I mean by following the smart money? Some guy asked me that in an email.  The brokerage firms, the institutions, the insiders, the high-frequency trades, all those algorithms that you heard about, that's the smart money. Oh, now I get it, now I get it. Okay, well, that's the goal of being a successful trader. You can outsmart the smart money, but you can join them. You can watch them. That is the whole strategy behind Cybertrain University. How do I know that?  Why is everybody here wants to get in finance? Why are these people have driving an 18, 20-year-old's driving Ferraris instead of my coming and I'm driving a Ford Pinto? I mean, what am I doing wrong? Oh, it's the stock market. But when I tried to do it on my own, I was like, what am I doing wrong? And then I'm like, there's only one easy way to explain it. Why don't I just go work for somebody? You see, my dad always taught me something.  My dad always taught me and says, son, you hang out with troublemakers? You might be a troublemaker because you're guilty upon association. I says, no dad, I don't wanna be a troublemaker. I wanna be rich. He goes, you wanna be rich? Hang out with rich people. You like being the trading business? Go find the best people in trading and work for them. Do whatever it takes to get in there, even if it's for free, whatever it takes. Oh, but I need to make money. It doesn't matter. The money will come later. And that's what most people don't realize. They wanna learn like today. They want the money now. It doesn't work that way. But it's not gonna be a four-year college degree. So how do we follow the money? How do we find these big pops? How do we know what's going up and going down? It basically comes down to this. You just gotta follow and keep it simple. It's called the KISS method. So I asked everybody this question. Did you have level three, which is total view? Let me explain to you what it is. Numbers, numbers, numbers, numbers, okay? So you saw Tom show the option way of looking at it. Right here, I'm gonna show you the stock way of looking at it. On the left-hand side, these are buyers, okay? Let me get, maybe this will help out a little bit better. Maybe I draw it a little bit. These are your buyers and these are your sellers. People that on the bid side, they wanna buy the stock. People on the sell side, those are people that wanna sell it. I know this sounds like kindergarten stuff, but you know what, I gotta do that. This is, the price right here is the highest price somebody wants to buy for. That's how many shares somebody's looking to buy and there's how many orders are out there. Now, you could see that there is, if you work your way down, there are 40 different orders around the world. Somebody, you have 30,000 shares that wanna be bought at $20 and $22.50. When you're looking at it, it's basically a chat room. People are advertising what they wanna buy it and where they wanna sell it.   If you wanna sell stock, guess what?  That's basically what you're looking at. You're seeing the buyers, you're seeing the sellers.  That's trading. Now, that is the raw data of the stock. Now, how do we use this data? Well, let me move on here. Let me clear this out, get back my pointer and move on. I'm gonna ask everybody a question. How do stocks go up and down? What do we need it for to go up and what do we need to go down? Let's see how you answer that question. Just put it in a chat room. Thank you, Michael, Bill, John, Bonnie. Put the two letter words, two letters. If you feel that, you're not a good typer. Larry, Wendy, Terrence, Norman, you're right. You need buyers and you need sellers. Can everybody just write that? I like called BS, you know? I don't like to use what other people might think of BS, but let's just call it BS. BS, remember those two words, BS. And when you really think about BS, they're like, wow, that kind of makes sense in trading because you don't believe anything you see, right? BS, so buyers and sellers. When the stock goes down on a chart and it goes up, what makes it go up? Buyers, when the stock goes up and it hits a resistance, what brings it down? It's not a resistance, it's sellers. So let's look over here. We're looking at the stock RKT rocket, okay? Stock was a fun stock to trade a couple of days ago. Stock was a rocket, actually. You could see how the stock went from $30.50, dropped down to $25.50, stopped twice and went right back up to $28.50. Why in the world out of every single number did it stop at $20.50? Very simple. If you look over here on the NASDAQ book viewer, which is this NASDAQ software, by the way, you could see there's a 58,000-chair buyer made up of five people out there, so obviously somebody wants to buy a lot of it, right there, 25, 25.50. Now, you gotta understand, there are 10-chair buyers, there are 100-chair buyers, there are 500-chair buyers. Who are you gonna watch? Who do you trust more? Fausto, Tom, you, Joe, you, Mike, or the guy that's buying 58,000 shares? Whose side would you be on? So when you're seeing a stock go down and you're always wondering, oh my God, what is this thing gonna stop? Why does it keep going down? Is it gonna stop? Is it any, yes, it will if you got the buyers out there. And if you don't have the right data, you'll never see that. That's why people fail. And the same thing goes here, as a resistance. Mara, you know, here's Mara stock that we trade. Stock goes from 23.80 all the way up to 25, comes right back down to 23.40. Why did it stop at 25? Why couldn't it, why didn't it go to 27? Why didn't it go to 100? Why didn't it stop at 24? Why 25? And no, it's not because of it's 25, a whole number. It's because there was a, if you look right here, there was 127,000-chair seller out there. There's no other reason why.  Do you think 1,000-chair seller is gonna make resistance levels? No, it's this guy. Why would you wanna buck the trend? Don't look at the chart, because remember, sellers equal resistance. See, most people do things backwards. They look at resistance. I don't look at resistance. I look at sellers. Then I'll look at resistance. Because resistance is made by sellers. Exactly, volatility.  Everybody has a strategy. You saw Tom talking about you could buy this, you could sell that, you know, but what is the actual strategy? Now, the thing is, when it comes to stocks, it's pretty much black and white, okay? Oh, there's a lot of different strategies to trade options, okay?  My strategy is I follow the money. So if you do trade options, you can use this to have a game plan like, you know what, I wanna trade an option. Let me look at the long-term effect. Let me see where the big buyers are on the big sellers are. And that's how that kinda answers that. Now, let's look at this example right here. Look at that DraftKing, okay? DKNJ. Can you guys tell me, actually, I'm gonna do a poll. How about this? Let's do a poll. Is this not going up or down? Let's see how you answer this question. Alan, we didn't get to that question. That's a great question. Alan's question is, are these all full spids and offers? And I'm gonna get to that question in a minute. But let's see how you guys answer this question. By the way, if you can't answer this question, you damn well better quit trading. I'm just being, don't mind me being very abrasive, whatever. But listen, if you can't figure this one out, I don't know what to tell you, all right? And by the way, if you can't answer this question, then you really should quit trading, at least all the person tries. All right, so I'm gonna end the poll. And if you said it was going down, congratulations. You are absolutely correct. That is a great, simple question. You just graduated the first grade. Now let's go to the second grade. What do we need for this stock to stop going down? Can everyone answer that question? What do we need to stop it? What's gonna, I mean, is draft can go into zero? It could happen. I've seen it. Henry, Edward, Sam, Joe, we need buyers. Oh, now let's think about this for a second. Can we go back in the past and see if those buyers in the past indicative of the future? No, no, see, that's the past. You wanna be able to predict the future. You can't use a chart to predict the future. You need to see where they are. How do you see that? You gotta go on level three.  I look for buyers and look right here. Oh, look at that. There's a 55,000 share buyer at 57. I mean, it was up to me. And you could have buy it at 57.84 or put a limit order at 57.70. I'd rather put a 57.70. Why go out there and pay 14 cents more when the real significant buyers all the way down there? Because guess what? Like it or not, that's where it's going. So what did it do? Came right down to 57.70 and went right back up to 59.80. Now, does that seem hard? Did I lose anybody? Just wanna double check. We got over 200 people in here. Did I lose anybody yet? Terrence, no. Anyone else? Mike, no. Julie, no. Anyone else? Was that hard? It's like almost like common sense. You're probably looking at it like, it can't be that easy. It really can't be that easy. And actually, you know what? Paul, it is. Seems easy, right? It is. It's really not. It's not that hard. So let's move on. Let's look at this one. If you were wanted to look for a resistance levels, we're looking at a stock, SREN. Where they are, on the right. You work your way down, look for some big block trades, boom. I would probably say if this stock was to go up, I gotta have a game plan, right? My game plan is where am I gonna sell it? And I can see right there at 725, 56,000 shares. I'm not going up against that guy. Okay. Actually, you want a little trip, little tip I would sell before it. So guess what? When you look at this example, this stock looked like it's going up. Oh yeah, this thing is like double top, 20 different green sticks of candles, this and that. Listen, the problem with this chart, it didn't tell you that you're coming up to a 58,000 share seller. And if you didn't see that, guess what? You just lost your profit. See what I'm saying? When I sat down for my interview to be a trader and they taught me this because we used to use something that was called Instanet in the past. When I saw this, I was like, holy crap, how do you get this data? Oh, it costs $1,000 a month. And I'm like, that's a lot of money for a 22-year-old. And then I'm like, well, do you want to make the six figures? I'm like, yeah, but like 22 years old, I don't even got $1,000. And I told, and they, and I said, listen, if it pays for itself, would you pay for it? Like if you're making the money, wouldn't you pay for it if you're making the money? I'm like, oh, of course. Great, we'll see you at work tomorrow. Sat down, looked at this thing, played around with it.  The problem with today's traders, first of all, it doesn't cost $1,000. It costs $15 a month, okay? That's number one. The problem with today's traders is that they want everything for free. And unfortunately, not everything is free, just not, you know, there's things you're gonna have to pay for it. You know, unfortunately, that $2 trillion stimulus package, someone's gonna have to pay for that.   You want electric, you gotta pay for it. There's things you gotta pay for. Oh, I want it for free. You know what? If it's free, it's not for me. I wanna know why, you know, I just want a good deal. And NASDAQ charges for this stuff. So that's basically the thing that you gotta look at, you know? So what we call these things here at Cybertree University, we call them iceberg orders. See, everything is not what's on top of the water, it's what's on the bottom. That's the way you have to look at it. Alan says, what's the difference between level three and level four? A lot, a lot. I'll give you an example. Here's level four. Okay? Level four is showing you the orders where they are and how long they've been out there and how many shares. Like you see right here, we're looking at, right now we're looking at AMC. AMC, when it started this morning, went from $11 straight up to about 1250. Do you see that red heat right there? You're talking about, there's about 900, 10,000. There was literally about almost about up. A few million shares are gonna be sold. And when it came up to it, look what happened. It came right back down. You see right here, big sellers, 70, 80, 90, 100,000. Went up, hit it, boom, it came right back down. You see that seller right there? You see that seller right there? They've been out there all day from 9.30 in the morning till four o'clock in the close. If you didn't see that, guess what? You just got suckered in and you would have got crushed and then went from 1250 and now you're probably licking your chops when it's at 950.  You know what I'm saying? Like this is just a program that we show you that in class you're just gonna see more orders out there. Now, what I'm showing you guys, please don't buy any of this stuff right now because I wanna invite you in my trading room. Can I at least show you what it looks like? Can I at least prove it to you it works? You know, just come in just once. Just once, I just wanna show you because there's a lot of people that can show pretty charts. There's a lot of people that play a big game. There's a lot of people that do nice, you know, photo shopping on YouTube, but why not see it live? Why not see it live? You know what I mean? My staff is just posting up a link right there. Do you think NASDAQ would want Fausto Puglici to come on the NASDAQ market and talk to all those people? Now they're in exchange, okay? They're in exchange. It's not a brokerage firm. This is not like somebody's YouTube channel. This is the exchange.  This is their software. This is the floor of the exchange. Why would you not wanna have a seat on the exchange? I wanted a seat on the New York Stock Exchange a long time ago. Problem was it was like $10 million and you didn't even make a dollar. That was just to get down the floor. It's like, wow, why so expensive to get on the floor? Well, you wanna make money, you gotta spend it. That's how it goes. So the big thing is this. We're gonna talk about time and sales. Now, the next question someone was asking me, how do you know these are real trades? Well, listen, anybody can cancel an order. Anybody could, you get executed, but there's something called time and sales. And when you look at this stock right here, if you notice the stock was at $13. You see it right here, 13. So I hit 13 and went down, and it came back down and then it hit it again. And like, wait a minute, it just went to 14. Like, how is that even possible? Well, apparently this guy that was holding it back at 13 was getting executed. Look at the time and sales. 13, 13, 13, see green, green, green. 18,000, 5,000, 6,000, 2,000, 2,000, 2300. A lot more greens and reds. But somebody actually bought it. Oh, by the way, that could happen. And when it does, that can make the stock go higher. So question to everybody.  And you're like, somebody's watching you. It's like, I don't understand. It's like, every time I do this, like I'm always on the wrong side. Well, let me answer that question for you. You know what your problem is? They're not watching you. You are not watching them. That's the problem. If you're watching what they were doing, then you'll know what side to be on. You see, remember when you came in here and I told you like Cybertrain Versi does not teach people how to make money. We teach how to stop losing it. Well, the goal is you would stop losing it if you knew where everybody else was selling it. The problem is everybody else wants to hit these home runs. They're like, oh, maybe it's going to go higher. Oh, maybe it's going to go higher. And then you're losing money.  Well, do you know where the next biggest buyers are? I don't know.  That doesn't work too well in trading. Now, the next quick thing that people ask is, I do use indicators. I personally, I don't use indicators. I'll tell you why. What chart's easier to read? Chart number one or chart number two? Can everyone answer that question? What chart is easy to read? Wow, you guys answered this pretty quickly. Sam says one. Terrence, I don't know what that means. Anyone else? William says one. Edward, what about, listen, what about you? I didn't hear from you, Alan. What are you afraid of? Barb, Lance, Charles, Chip, come on. Craig, what are you guys scared of? You're going to get the answer wrong. Listen, if you're scared of getting the answer wrong, you should not be trading. Well, let me just tell you. Yeah, I mean, you definitely need special glasses, Christo, for this one, for number two. Listen, number one is a hell of a lot easier to read than number two. The problem with indicators is that they're laggers.   I mean, they're always right. And by the way, they're all made by mathematicians. I don't know if you know that too. It's right, Tara. It's old news. It's old news.  And the upcoming news is the orders. That's why people get confused.  Everyone's excited about doing it. They love trading. They see the opportunity. You see what's going on in the market. So what happened today? But you got to know how to play the game. And it's not that hard. And I want to show it to you, okay? I want to show you how we keep things very simple. Right to the point, nothing crazy. That's all it is. And what you're going to see is that another thing, you don't need to bake a big move in the stock market to do very well. Specifically in day trading. Like I like to day trade, by the way, don't look at scary like, ooh, day trading. It's like you could lose a lot. First of all, day trading is the easiest thing. I don't know why people think day trading is very difficult. You don't, you can sleep at night when it comes to day trading. You know, you don't have to hold positions overnight. Anything can happen tomorrow. You know, by the way, if you're a good day trader, you'd be a phenomenal swing trader and a great options trader because it's a movement, what happens over the course of the day, which trickles into the following day. So who here wants to come into trading room? Who here wants to watch pre-market trading? Who here wants to see, you know, why Cybertrainverse has been around for over 25 years? Who here wants to see a 12-time world champion and see, you know, how these things go up and go down? Well, now's going to be your opportunity. I want to invite all of you guys to not be scared of trading. I want to show you how simple it is and not most importantly, I don't want you to look at me. I don't, I want you to look at the people that we've trained and see how they do.  Listen, if I could teach a 90-year-old grandma do it, you could do it, all right? You know, no disrespect to her, but it's not really rocket scientists. But when you work for a good company and you surround yourself with good traders, it just makes it that much easier. And that's why Cybertrainverse has been endorsed and featured by more brokerage firms than anyone in the school, in the industry. And let me tell you, that is very hard to do. You think, you think Tom Sosnoff will come here at Cybertrainverse and want to talk to someone that's teaching people how to lose money? You know what I mean? So that's the beauty of it. So this is what I'm doing. I want you all to come in my professional cybergroup trading room. We're going to start early in the morning. Every one of you are going to get access to talk to an education advisor. We're going to give you a couple of videos. You're going to be, we're going to introduce you to everybody. It's a really fun environment. It's exciting. And you're going to see a lot of people, you know, how we make money and how we, most importantly, how we control these losers. Now, the thing is this, nothing's free. Nothing's free. And I'll tell you why. I don't know who you are. Okay. We sent an email. We want to know who you are.   So I'm asking for $9, which is a donation for an application fee. Okay. And by the way, it's money back guaranteed. If you don't like it, I don't care. You can have it back. I don't need your $9. But the $9 is going to prove to me that you say who you are. And this is what you're going to get. You're actually going to talk to our staff. You're going to get, you know, a crash course on day trading. You're going to get watch lists. You're going to get live commentary. You're going to get full access to the trading room. Okay. All this for $9. The link is right there. Just click on it. Okay. And as a bonus, which I don't even know why I didn't do this, but I know why I do it because I'm looking to recruit traders. First 20 people register, I will actually do a coaching class with you. I got to listen. We got to talk.  You're going to look at stuff and be like, wow, how does that work? Well, listen, we're going to have to talk enough to see if you're qualified for it. Wouldn't you like somebody, wouldn't you like a doctor to kind of talk to the doctor first before you go into the surgery? As much as you want to do the surgery or you thought you needed it, you might not. It might, listen, trading might not be for you. So let me do the consultation and tell you, but come to the room. It's $9. You got nothing to lose. Okay. Let me just go through a couple of questions. Joe, you're more than welcome. Thanks for coming. Norbo, I don't know what you mean by that, but you got my email right there. Follow up with our staff, call the office, we'll take care of it. Okay. By the way, if you didn't fill out, maybe you didn't fill out the questionnaire after you registered because that is very important part. It is optional, but let us know, did you take education from anyone? Do you have a brokerage firm? How much money you have? We have five questions. We need to know a little bit about you.  All right? Philip has a question. Thanks for asking. I would just like to know how long would it take to learn to trade a platform on Tastyware tomorrow? Well, Phil, the big thing is this, don't go crazy worried about open brokerage accounts. Right now, if you don't have one up and running, you don't need one. Right now, what you need to see is just see if people make money doing this. That's all you need to say. Don't worry about it. That's the least of your problems. Okay?  Okay? It really is. It's got to move money there. Got to fill out and give you social security number. Here, it's $9. Let me show you in the trading room. Let's jump in at eight in the morning. Let's see what's moving with all the great stuff is all about. Okay? Any other questions? Do you only trade NASDAQ sauce since level three? No. Actually, Chris, though, that just shows you that you definitely got to get into the room. You could trade the New York and NASDAQ. Basically, you could trade the exact same thing. They all trade the same market. You got, it's just not the NASDAQ total view. You got Archipelago, you got EDGX. They're all trading electronically. Is this an auto rebuy? Alan, if you want to continue after seven days, it's $149. If you don't listen, I don't need to scrutiny. I don't need to, I don't need to cause any problems. If you don't want it, just cancel it. If we did, if you get charged, we'll refund your money. Listen, we're not like raging bull, you know what I mean? We don't do that. Okay? If you mind, we don't give any, I don't, I don't need to scrutiny. Okay? I got a five star rating on Google for a purpose. I have a triple A rating in the bed of business bureau. There's a reason for that. Listen, I'm looking to teach people like a trade with. That's really what my goal is. You want to learn how to trade? You want to be part of a team? You want to be part of a company? Then here's your opportunity. If you don't, then that's okay too. Anything else? Any other questions? You're more than welcome. I hope you guys liked being here and listening in. Listen, it's a lot of fun. You listen to all these traders.  And you got to understand something. This is not like something like I invented.  No. Tom's strategy, he didn't make up that strategy. We've learned by, this is something that's been passed on. Generation at the generation from being a trader. That's all. You just, you know, some people just better at it.  Wow, you invented football? No, I'm just a good player, you know? And you know what? You want to come on my team? I'll give you a shot. You can hear that little binging going in the back. Let me just do a couple of shout outs right here and welcome a couple of new people that just showed up. We got here that just registered. We got here. Jay Perksky from Minnesota. All right, welcome aboard. Andrea Rodriguez from California. Just got your registration. Jay Galler from Connecticut. He's got your registration. Lawrence from Discovery Bay, California. Got your registration. Now guys, listen, when you register, let me just give everyone a little heads up. When you register, you're going to get access to our portal page. You're going to see, you're all going to have an education advisor. It is imperative that you speak to them. You just can't get into the room because honestly, you're going to get lost. You're really going to get confused. There's certain lingoes. We want you to know what you're looking at. Listen, we do an orientation. I'm very big when it comes to customer service. If you're not happy and you don't get it, you know, you're not going to continue. All right. So let us do the walkthrough. Let me show you what it's all about. And guys, listen, it's only $9. Okay. And it's a way that, you know, to see what day trading is really all about. And by the way, we just don't day trade. We also swing trade. A couple of more people are coming in here. Crystal. Oh, that's you. Crystal summit. I live on summit, by the way. Charlotte, North Carolina. Welcome aboard. Look forward to teaching you. Look forward to seeing you in the room. One from was at Chicago got your registration. Victor from New York was at Manhattan. Just got your registration. Jamie from was at Nova Scotia. All right, cool. Welcome aboard. Got a lot of Canadians in the trading room. All right. What happens after seven days? No automatic billing at the seven days.  If you don't, don't worry about it. We won't charge you. Okay. Any other questions? Any other questions? All right, guys, listen, I know it's been a long afternoon and I'm exhausted actually. So I look forward to seeing you all tomorrow. If you didn't register or you want to come and join us for the upcoming events, we got another one I'm going to do just like this on Thursday, which is obviously tomorrow. So if you want to hear it again, I'm going to do another demonstration on this, but in the meantime, if you register now, you're going to be one step ahead, locking in your date, your appointment with me. So that's the most important thing. Think about it. Imagine sitting in and having a conversation with Tom Sasanoff, a billionaire. Wouldn't that be awesome? I wish I was a billionaire, but I'm actually very happy. Barry 25 years, got three boys excited about it. Tell them to come to see you on YouTube. Bonnie, yeah, right. Tomorrow morning too, I'm live on YouTube. Actually, we'll tell the staff to put that link every morning, live at 9am, you know, we'll do the audio. And if you need, if you feel a little comfortable and not ready yet, that's okay. Come in the room. You could join us there. A couple of more other people here just registered. Lewis from Charlotte. And I get so many coming in here. I came and read them. Don't worry, but I will talk about tomorrow. All right. So anyway, let me go. I'll see you all tomorrow, everybody. Thank you so much for being here. Thanks for listening in. Come and join us. Like us, friend us. Join us on YouTube and Facebook live also. And I'll see you all in the trading room.  Hopefully no one's really nervous about it. And let's all get into the trading business. Okay. Thanks everyone. Have a great evening.