Let me know, we're gonna get started. Let me know if you can see the screen. Let me know if you can hear me. Wonderful, excuse me. Welcome everyone. If you have questions when we're going along today, feel free to type it in the room. I'm the only person that can see the writing, okay? But I will say the question out loud and respond to it. All right, welcome. Today we're gonna talk about trading. Today is a great day to talk about trading. Why? I like to focus on gaps and the market had a beautiful gap down today. And specifically I focus on shorts. So one of the trades we did today, the day trade we did today, I did put in this plop in here today and we'll go over it. But the strategy I train, all right, looks for momentum and volatility. Now, some of you may think the word volatility is a bad thing, but actually volatility is a good thing if you're an active trader. And you can make a lot of money with quick, fast moves, okay, with volatility. Obviously you have to get the right direction, but you have to get the direction right in every trade you take in order to make money. In order to win, you have to make money taking the trade in the right direction. And we're talking about earning $20,000 a month, but really you can earn much, much more if you know what to do. So every trade I called today worked. Why? They were either day trade shorts or puts and the market fell and many, many stocks fell. So when you get the direction right, which obviously we did today, it doesn't take that much. But again, you gotta get the direction right consistently, consistently. And that is a challenge for many people. Why? They simply don't know what to do, okay? Or they don't have a system to follow, all right? If you have questions, email me at Melissa at thestockswitch.com or call me at 929-3200GAP. You can call me or email me after the lecture today. You can follow me on Twitter, Facebook, YouTube or Skype. Okay, everybody with me? And if we have time, we'll talk about the market at the end. So again, having a quality trading system is very important. Why? It'll be a lot less stressful for you to trade if you have a system that you follow that you know works consistently. Does that mean that every single trade that I take, using my system works? No, some trades lose. But I have more winners than losers, okay? So say you have a system where you take 10 trades, two may lose and eight may work. So I use stops and I have a fixed risk when I take a trade, why?  So the quality of a trading system will make it a lot easier for you to trade and a lot less stressful because you can't get away from the stress of taking risk. So say you wanna make money in the market, you can't make money unless you plop on the risk, okay? It's impossible to make money unless you put on risk.  So the idea of a system is not to have 100% win ratio, that's impossible. And everyone that trades understands that, all right? That's why we assess our risk accordingly. But if you have conviction in a strategy and you believe in it and you know that it works more than it doesn't, okay? That it has high odds of working, then it will allow you to trade and again, be more confident and be less stressed in your trading. And again, this is no matter what your risk is. So having a quality trading system is important. For me, it's based on gaps. I named my system the golden gap because it feels like finding gold in the market when you see a gap in the morning. Now we'll go over what a gap is here in the minute. For example, when I got up today, very early, the market was down and I had not rated the gap yet in the market but I knew where we were that we would have a good day, shorting, okay? Again, we shorted today. So when you have something that you know that you can follow Monday, Tuesday, Wednesday, Thursday, Friday, again, it helps you trade at a more relaxed pace but many people don't have a system to trade. They think what they're doing is a certain system like buying support, that's not a strategy, okay? People think it is, but it's not. Again, if you have time, I'll pull up the mark and explain to you why at the end but a system is essential to making money on a consistent basis. And not only that, having conviction in that specific system. So having conviction is an important piece of trading that many traders lack. Why? Well, for two reasons. One, they don't know what to have conviction in and lack a good strategy. That's what I was just discussing. And two, not every trade works even in a good system. I just said that too. And when traders losing a trade they wanna give up too quickly, well, you can. You have to accept the fact if you wanna do this, whether you wanna do a part-time, full-time, on-the-side, whatever. If you wanna risk your money in the market, even if you have a full-time job and you wanna just risk the money trading on the side as extra income, you have to understand that you will have some trades that don't work. That's why you have to have a fixed risk.    That's what trading is all about. And a lot of traders don't think like that. They're very, very, very, very black and white. In order to be successful as a trader, you have to live within the gray area. It's something that you're like, oh gosh, I wish that every trade worked. Well, so do I, but that's not reality. Reality in trading is living within the gray. If you want to trade and do well, you need a good system and conviction in that system. Well, it does not mean that you will never lose. It does mean you will win more than you lose, which by the way is all that matters. And if you have conviction and you hold the conviction, you're gonna do well. Of course you need to know what to have conviction in and that's the information I teach about my gap system in the Golden Gap course, okay? So we were talking at the beginning about volatility. Today was a volatile day in the market. Why? Market's been trading up, up, up, up, up, up, up, up, up. Okay? So it was a volatile day because we even looked this morning at the beginning of the day like we were gonna hold, but we didn't, we fell, okay? So volatility, it doesn't necessarily mean selling off. It could mean rallying. You saw volatility into the close. We had a big pushback and rally into the close today. That's volatility too. Volatility is anything that happens as unexpected. Unexpected, okay? Unexpected is what I mean. It could be up, it could be down. Volatility doesn't necessarily have to mean selling. But volatility means opportunity as an active trader. Why? As an active trader, you're getting the move and you're getting out. You're taking the trade, you're booking money, you're getting out. Take it, book it out. Take it, book it out. That's what you're doing as an active trader. You're not buying something, you're shorting it and holding it forever and ever and ever and ever and ever. Okay? That's long-term investing or swing trading you can do if you wanna hold something for weeks and months, but that's not what we do. All right? I'm doing active trading, active day trading, active options trading, okay? So here is the market. So this is a picture of the QQQs. Today the market gap down. So let's go over what is a gap? A gap is a difference in the close and the open. Market closed Friday here, open here. So it closed at one price and opened at a different price. Boom, that's what it did. So volatility is something unexpected which what did we have today?  And then we had more volatility into the close because we didn't close here. I snapped this at 204, okay? Back, let me pull it up right now. I'll just pull up a live chart right now, you can see here. So you see here, we fell a little bit more from where I had that chart from earlier today. 360, 93 was the low and then we had a bounce, boom, into the close here, okay? This is volatility two. This is volatility two. It happened exactly 315 into the last 45 minutes of the day. Okay, are you ready with me?  A lot of people want to trend trade. Well, that may work in a market like 2021 where we've had many, many, many, many, many, many days where the market made new highs and rally. That works all well and good. When the market's going and the trend is steady, steady, steady, but that doesn't happen all the time. And in fact, that rarely, rarely, rarely happens in most years of the market. And really, if you look at the backdrop of what's been happening in the economy and the world, it's kind of hard to believe all the new highs that we did make this year. But remember, the market does not always follow the economy neck and neck. That's true too. So again, volatility means great, fabulous money and profits if you know the right direction. If you went long today, you lost money. If you shorted today, you made money, okay? So again, gotta get the direction right. Very, very important. Training is making money with moves. This is a long-term investing.  A lot of times people don't even understand the concept of shorting. Again, we're gonna talk about that today too because we shorted today. I'm an expert in shorting, okay? While I do go long, I prefer to short. Why do I prefer to short? Because short moves happen fast, just like you saw today. And a lot of people don't understand shorting the market. All shorting really is, is you're taking a position and you're quote-unquote betting that the stock price will drop or the market and say you short something at $10, boom. If it drops to nine, you make a buck. If you have 5,000 shares of it, you'd make what? $5,000, simple, okay? It's selling and shorting. Any questions about that? So what am I looking for every day? I get up in the morning, I look at the gap and I look at as many gaps as I can in the pre-market in the morning. And I'm trying to determine what I call the good ones, which again, I name golden gaps, but I'm looking for institutional money. What institutions, what institutions are doing? Are they buying the stock? Are they selling the stock? That is essentially the meat and potatoes and the crux of my system. That's how I make money on a regular basis going with the institutional money. And again, whether you're gonna do this full-time or part-time, you have to consistently make money. I don't care if you trade one day a week, two days a week, you don't have to trade five days a week. Do one trade a week if you want. But the reality is you still have to have more winners than losers. So my system has a high-win ratio, mainly because it really just makes a lot of sense. It's common sense because I'm following the institutional money in the market. And then I capture those moves in a small, small timeframe on the chart, okay? So I'm looking at the daily chart and I'm looking at the gap, but I'm looking for institutional money. And institutional money is in charge of the market and stocks at all times. Even if you think it isn't, it is. A big flow of money going in a certain direction is what moves the market, like today, for example, or stocks, and creates momentum, and then it sets the trend in charts. When you're looking for institutional money, you're really reading the side of the power. Who is in control? Who is in control? Who is in control today? The bears, the bears, okay? You want to be in the side of the power in order to make money trading. Institutional money is in charge of the market and stocks at all time. Even if you think it's not, it is, okay? So the bears took over today. Market's still in the net trend, but we had a bearish day in the market, okay? Any questions here so far? PH, that's fine. If you're late, you can just listen in. Any questions? So let's get back to talking about becoming an expert, becoming a specialist, all right? I only do one thing. It's gaps. I don't do anything else. You only need to do one thing if you want to make money in the market. What do I do? It's based on technical analysis or advanced technical analysis in the gap. It's based on reading price action in the charts. Now, while you can say, well, the market fell today because this thing, that thing, and the other, you could have said the same things two weeks ago, two months ago, and six months ago. The reality is that what has happened in a live, live time is all that matters. Again, like I said, we've been terrible at being nominated this year in many, many, many, many, many weeks. The market has rallied and made a new high. We have huge, massive amounts of people still unemployed. Market's been making new highs. So it doesn't always go together hand-in-hand, what you think of the logic of what's happening. Look at what's happening in the country too. Look at the debt that they're talking about, the stimulus plan. You say, how could the market rally on an idea of passing something like that or drop on not passing it? Again, you can't look at that stuff.  It's just you. You have to make money for this moment here, this day, this week, this hour. It's you, okay? You're chunking it out. You're not a long-term trader for this.  So comprehending how to redefine and trade with this power will have a huge positive impact on your profitability as a trader, which is what you want. Elevate yourself through trading your profits to a higher level of consistency and success by learning how to read the footprints of institutions trading in the market. Today was a great example of that. I had conviction for some time now the market would be falling. I can't tell you the last time I did calls or even went long the market, it's been a while. While I could have had different times in the last few weeks and made money, I didn't. My expectation was that we would have a sell-off and today we didn't. So I was reading the footprints in the market of the big-position players. And I'm reading it really before the momentum occurs. Like we got in very early today. I sent out the options trades in the pre-market. We traded and shorted the market very quickly into the open. You've got to get it before the momentum happens. But you have to understand how to train with this side of power and you need to know how to find it and spot it. And then if you can do that, then the market will be very easy for you to play. Again, it does not mean that every single trade you take is gonna work. Some trades are gonna lose. You account for that in the risk. But the fact is if you have more winners or losers, you're gonna be ahead and that's what counts and that's what matters. And that's what's gonna make you successful. And again, you then can steer your own course how you want to trade. If you want to trade full-time or part-time or options or day trades or whatever you want to do. Personally, I like doing both. Some people do one, some people do both. And as far as your risk goes, it should have to do with the size of your cash account. So getting back to volatility. You know, institutions, again, move stocks, but nothing always, always goes up forever and nothing always, always goes down forever. And that's important. It's important concept to understand. That's why this idea of buying the dip or shorting resistance doesn't work consistently to make money. While sometimes it does, okay, it does not work consistently. And I think today people really saw that and got very, very tripped up in some things today, particularly in the market and the move and how it initially out of the gate. So again, let's talk about a review. What is the gap? A gap is a distance from the close of the open. So the QQQ is closed at a set price on Friday. Four o'clock, boom, before the weekend. We did fall on Friday. You could have shorted the market Friday. I was off last week. But technically speaking, the market closed here on Thursday, gap down on Friday and fell, boom.  What did we see here Friday? We saw selling. Then it closed. Then it opened here Monday. Then we rally, made the tail. Then we drop, boom. Then we sold off, okay? So the close here and the open here is two different numbers. That is a gap. This is a gap down. Let's look at a gap up. See if we can find any here. Oh, this is a gap up. Closed here, gap down, rallying, trying to make a new high. This was a couple of weeks ago, beginning of September, right after Labor Day. I think it was after Labor Day, yeah. No, it was before Labor Day. No, it was after Labor Day. And we failed. We failed to make a new high here in the queues. But this was a gap up. And we did have a green bar, okay? Here's a rally here. This is a gap up. Closed here, gap down, rallying, boom. That was back in July, okay? So I have one focus every single solitary day. I'm looking for the best gap to trade. Sometimes I go long, sometimes I short, but I prefer to short. So I always veer to the short side first. But I always have one focus. I'm looking for the gap. And I'm always doing it when in the pre-market. In the pre-market. That helps me focus too. And again, I name my system the golden gap because it's like finding gold in the market. Today's a great example. When you read it and can predict in the pre-market, if somebody's gonna go in a certain direction before it happens, you can take a trade early in the morning between 9.30 and 10 AM Eastern time. Get the momentum, get the move and get out. Sometimes you can get in and out in five minutes, sometimes in the day like today, which was a power trend day for the market, which is rare. But today was a power trend day for the market. You can hold longer. You can hold longer, okay? Any questions here so far? So again, just to review, what is a gap? Big stock gaps in the opening price today is a different than the closing price of yesterday's trading. A gap is a break in the price action from one day to the next. Simple, but then how do you know which gaps to trade? And how do you know which way to trade the gap? That's what I teach in my class. It's a 16 hour course. But because I know how to do that, I'm very successful at predicting where something's going to go before it does it. Here is the spy. Again, this was around three o'clock. This is not the close of the spy, but this fell two. This closed here at one price, approximately 441-ish on Friday. Boom, open in the morning, right around here. It was under 436, fell today.  You could have shorted this today and made money. Now, we had done a short, or we did a short a little bit ago, expired two weeks ago. This was an options trade. I'm showing you here if you want to trade options, I have an options newsletter. We did the 451 spy putts. I just got done telling you for several weeks now, my expectation was we'd have a drop. We did have baby little drops, like this one here. Today was a big drop. This was a very nice option. This is an advanced risk here, but the contract cost was cheap. It was $1.70 to do the 451 putts. Shoulded to 90. This is 81% return investment. This is a good, good trade. Okay, the ROI, anything over 50%, I consider a good solid trade. This was an advanced trader risk 50 contracts, risk 8,000 profits, 6,500. Let's take a look at it. So it was Friday, September 7th. This was before Labor Day. Let's go up here. I mean, September 3rd, I'm sorry. So here we did it. I called it here, and then it went boom, fell. So here's the day I sent out the trade. You take the trade when you get it, this took a little bit to drop, boom. Okay, that was a nice trade though. So this took a little bit longer. This fell immediately, okay? And again, this is an option, oops. So if you were on the options newsletter, you would have received this trade to your email. Different from the day trades. Like I told you, we shorted the cues in the day trade room live this morning. And anyone wants to trial for that, you can email me if you want to trial for the room this week. But anyways, what happened there? We saw a sell-off in the spy. We saw a sell-off in the spy today. We saw a sell-off in the spy since the 3rd. So golden gaps have huge opportunity. Why? Because they spot power money. That is important. Because again, if you play with institutional money, I call it power money. What is that? Hedge funds, banks, retirement funds, big, big money in the market. All the things that we trade are very, very liquid, okay? We're not trading cheap stocks or penny stocks or low-float stocks or any of that stuff. We want to be a blimp in a stock. We don't want to move it. You shouldn't be moving a stock or a stock price when you're in or out at any point in time. It'll be very difficult for you to be invisible. You want to be invisible when you're trading, okay? So how do I find golden gaps? I get up in the morning, I look for the gaps and make a watch list. I rate every one, determine if I'm doing one thing or several things of the day, what I'm doing as a day trade, what I'm doing as an option, or what I'm doing as both. And I prep in the pre-market. So the morning time that I spend prepping in the pre-market really, really helps me make money on the day. The more time you have in preparation beforehand, the better you're going to trade on the live day. And the more money you're gonna make. Lots of people don't even make a determination with their trading until after the open. That is completely insane to me. It's like they're grasping at straws, trying to see where the market's going on live time. Most people cannot read the market in live time accurately. That's number one. And number two, your strategy if you're just trading on the fly, you cannot trade on the fly. You have to be prepped and know exactly what you wanna do and exactly what direction beforehand. Like I got up this morning, like I said, shipping it early. I know three and a half hours per the open what I wanted to do today. And that is again, a huge, huge benefit of coming and learning from me. You will become a master of your own domain when you know way, way hours ahead of time and have 100% conviction in what you're doing that you know something's gonna set up and go a certain way. It takes a stress off you of trading and again the risk because there's no way to get outside of the fact that you have to take risk in order to make money trading, okay? That's just part of it. You have to have money to trade and you have to have money to sign up for a class like mine to learn what I know. Any questions here so far? Or even get the train calls. So I rate the gaps. I find them, I rate them, I use a checklist. They have to be qualified. The checklist tells you what to look for in the price of the stock. Because again, if you're depends what news channel you're watching, the news could be positive, the news could be negative. You're watching some channels now COVID is over, some channels COVID is full on, the Delta variant, this thing, that thing. The news is so biased. And I'm speaking from personal experience, I speak on the news. I know it's biased, okay? They ask me my opinion, I give it but I full well know that the news is biased. You cannot preempt everything that's happening and predict it based on economic data or the news. You've got to look at what's happening in the price. It's the only way you're gonna make money, okay? Because everybody has an agenda and you have to know that going into it. When you're watching the news or a channel or they're giving a report, they have an agenda. They want you to have a certain bias or get a certain bias, okay? For their own benefit. So getting back to what I was saying about institutional money in gaps. There is only one thing and one thing only that can move the direction of the stock. It's money. Not a little bit of money, but a lot of money. We were talking about big big money, hedge fund money. Not things with low volume. I call it power money because power money is in charge. Millions and millions of shares, hundreds of thousands of shares that come in and move stocks. Power money is in charge of the stock's direction and the market. Trends are set and moved by the power money people of which there's a lot of in the market and there is and even if you think they're not there, they are. Now let's talk more about gaps. Gaps happen in the market on a regular basis. However, some gaps are better than others. Some gaps are nothing gaps and some gaps are very powerful displays of institutional money. Understanding which gaps are meaningful and which gaps are not meaningful in the market will help you to know what to do and when a change is occurring. That is how you know when the power money will flow in the way that you need it to pay you. So like do I always trade every single thing that gaps? No, many, many, many, many, many given days things are what I call not predictable. Like there is no play. Something could be gapping like the market could have gapped down today. It was a good gap down today, it was a good short but the market might have gapped down today and not been a good gap and not been a good play. I don't know if tomorrow is gonna be a good gap or a good play. I don't know until I get up and I see it and I read it, okay? But the bottom line is you have to pick the good ones. Not everything that gaps down is a short. Not everything that gaps down is a long. Not everything that gaps up is long and not everything that gaps down is a short. It's not that easy, it's not that simple. It's more complex. Easy if you understand it, complex if you don't, okay? So I use a 26 point checklist to determine if the gap is good meaning if I'm going to trade it and what direction. This is the meat and potatoes of what I teach in the course. Now some people say, well 26 things is a lot of things.  No, I personally take my time reading gaps. I like to take my time reading gaps. I don't want to rush it but I couldn't read a gap in two, three minutes. Now if you're new and you don't know how to do it it might take you 10 minutes. That's not the end of the world. I'm not reading 1000 gaps every morning. I'm scanning, I'm making a small wash list and then I rate those. So it should take you about an hour to prep in the morning but to be honest with you if I could find 126 things in a daily chart so that I'd never lose in a tree or increase even my wind ratio to something like 95% or something crazy I would do it. This is all the things that I figured out and this works but the fact is that the more detailed you can be the better you are going to be the more money you will make, okay? All of that is important because again the key to profits is power of money and everything you can do to see that power of money to see where it's going to read the direction to predict it will help you trade. Some people got out of the shorts this morning. I knew we were gonna continue to drop, okay? While you could have made money quickly this morning got in and got out and that was fine I knew based on the gap rating that we would continue to fall today, okay? So these details help you make a difference between winning and losing and make a difference between just winning and winning big, okay? Any questions here so far? How are we doing? So again, think intellectually about what you're doing. Just think about it. It's very, very, very, very, very important. If you're going with the crowd of traders then you're probably not doing that well. Why? Most traders lose money. Why? It's complicated, there's many reasons. Money management is only one factor. People say, well, I mismanage, I don't get out when I'm up, things like that. The bottom line is most people lose in trading because they don't know what they're doing. They just simply have no strategy or the one they have doesn't work because even if you had the worst money management in the world and I met people like that, trust me, you still would be able to make money if you had more winners than losers. So the reality is you have to have a strategy that works and many people don't and they're going with the crowd and it doesn't work like that. There will always be more losers than winners in the market overall and in the world of retail trading because there's always a point where you have like a triangle or like a pyramid like that where you have the people at the top and then everybody else at the bottom. You don't have to be at the top, okay? You have to be close to the top and you definitely don't wanna be at the bottom, okay? And this is where many, many people are. I'll give you a good example. Let me pull up this whole Reddit phenomenon that's continued on and gone on this year and it's gotten completely out of control and really people have just lost and lost and lost and lost and people are stuck in this stock long and down. This is a great example. So this had, this was back for those of you that don't know it had a big spike up in January, February, March, it had a spike up again. People, those expectations are it's gonna have another spike. They think this time, that time, whatever reality is there's just no play here in this chart. It's totally messed up and screwed up ever since what happened earlier in the year and because of these chat rooms but many people are in this that are retail traders. They have no strategy whatsoever. They're following a chat room and they're long a stock and they're risking their own money. That's really, really silly people. There's no strategy here in this to trade. This is not along right now. You could have shorted this today as a day and trading got in and got out. There were other days you could have shorted this and maybe one or two days to go along this I would not be long this long term. And it's probably lower before it's ever higher again. So people again are gonna lose money in this. People have lost money in this. There were a few people that made a lot and there were lots and lots of people that lost. Why? People jumped on the bandwagon and bought this here over 300, heard terrible, terrible, terrible horror stories of people losing money in this. After it ran up here, people thought it was going to 500, it never got there. It collapsed. Collapsed all the way down here to the 50s and people bought it in the 300s. Some people are still stuck in this and they bought it in the 300s and it's not there. Okay? So again, you don't wanna be at the bottom and you may not be at the tippy tippy top but the closer to the top you can be the better off you're gonna be. Okay? So the golden gap 26 point rating system which is what I do, which is my system and my strategy looks at reading price action in a gap in the pre-market and predicts the direction it will go. Having conviction in a system is essential to make money. We did this today in the queues. Like I said, people got out of this. Some people got out of this quick today but I believe this would drop. Dream Target was 360. It got pretty, pretty close to that today. When you're trading, a lot of times people look at it like it's a video game, like it's a Ms. Pac-Man that they're playing. You remember years ago we used to play Pac-Man? It's just not that way. You have to look at it like a business, a business model, you have a business model. You're gonna get up, you're gonna risk this much, you're gonna do these many trains, you're gonna do them if they rate this much per the gap, that's what you're gonna do. If it doesn't, you don't do anything. And that's the robotic part about it. And that's the part that I think people lose or just don't understand. But having conviction helps you make money but the conviction is in what? In the system that you're using, the system, okay? So here was today's trade. We shorted the market. So I got up early, I called put in this and we shorted it as a day trade, open rally, great entry in this, dropped. So here was, I'm gonna show you advanced trader risk and beginner trader risk. And I'm gonna show you even the cash you would have needed to do this trade. We shorted this at 368. Actually, let me go to the one minute here. I'm gonna just go back to the chart here. Any questions while I'm doing this? We shorted this right in here, okay? Everybody see that? And here's the whole day. And again, you could have got out in this morning with money, or you could have held it. Squished the whole day. Beautiful trade, fell, fell, fell, fell, fell. In fact, what was the low of the day? Low of the day was 360.93. And actually, if you stayed in it until the very close, you still got out with profit. We closed at 365.33. The entry today was 368. Beautiful trade. Again, that was a short. So if you shorted this, okay? At 368 and risked $2,600, exited at 361.50, you would have made $13,000 today. Now, how much money would you have needed to make that? The buying power needed to take a 2,000 share quantity of the market was $736,000. That's not nothing in buying power. That's not cash. Again, this is a day train on margin. This is not an option straight. I did call a put in this. You could have done that too. Cash needed to take this at a retail broker is four to one. You would have needed 184,000 in cash. To do this as a day train with 2,000 shares. Did you have to take 2,000 shares? No. I'm gonna go over a lower risk in a minute. Cash needed to take this at a prop broker is what? 73,600. That's still a decent amount of money, but the 2,000 shares is a big position in the market. This is again on margin, on margin. More than well worth it, as you can see here with the profit today. Now, if you were a beginner trader, and took 500 shares, same entry, 368, risk was $650. So if the train would have stopped you, stopped you out, you would have lost $650. There's a difference between the stop and the margin and the buying power. Does everyone understand that? If you do not understand that, ask me a question right now and I will explain it better to you. Buying power needed to take 500 shares in the queues was 184,000 BP, not cash. At a retail broker, you would have needed 46,000 cash. At a prop broker, 18,400 for 500 shares in the market. Are you with me? Now, again, you could have bought a put. I did call a put in this too, but I'm showing you the day trade here today. Let's go back and look at the chart. Show me, did it? Got the drop, boom. So I'm showing you. Now, what's the difference between a retail and a prop account? A prop account usually gives you, there's a lot of different ones out there, but they usually give you 10 to one margin. Retail usually gives you four to one only. You can do two to one cash overnight in a retail. Prop is a better leverage on your money, okay? Retail, you need 25,000 to even open an account and have a margin account.  Any questions on that? So great short today in the market, great call in the market, early call, early call, okay? Solid in the pre-market, we were in it early. Again, some people were long in the market today. Why market gap down to support? People were buying the dip, markets in an uptrend. People thought the gap down was big, it was gonna get bought. I can go on and on and on. Many people went long initially today. I don't know what they did at the end of the day. It looks like people went long at the end of the day too, but people went long in the morning, got stopped or were down. If you want to trade effectively, you cannot go with the crowd of day traders. While sometimes it might work. If you happen to go long GME and follow that guy on YouTube before it blew up, you might have made money. More people lost, bought it late, didn't know what they were doing, didn't get outright or down or still in it and down.  Going with the crowd, it's like going to a protest in New York, there's like a protest every day in New York City, I live in New York. It's like a protest every day. It's, you know, you get trampled in a protest or a riot. You go with the crowd, it can be very, very dangerous. You think it's gonna be safe, but it's not. Why? Because many, many people don't have a strategy, don't know what they're doing, don't have a system, have no conviction. And a lot of people really, they don't even have conviction of what they're doing yourself. They take trades and then they don't even have conviction. They don't even believe in it. They just do it without even thinking. Like we're talking about like a video game. You see how silly that is. Be honest with yourself. Again, I'll go back to the slide of the brain.   This, I don't know why I'm doing this. I'm not gonna do it. There isn't anything good to trade today. Don't do it. I'm up a lot of money.  Okay. Any questions here? Now, we did a trade in this today too. We did a put in this, but I'm gonna go over the day trade from September 7th, which was here after Labor Day. We shorted Boeing. This is a little pricey too. Not as much as the market. Close to your gap down fell. Boom. So, we shorted Boeing on September 7th at 2,1550. I don't put the cash amount you would have needed in this, but you can figure it out yourself. Share for advanced trader, 1300. Risk was 27.95. Exit 2,1362. That's a nice drop. A dollar out. Two dollars out. Drops, boom, fast out. Profit in this was 2,444. So, whatever you're risking, if you're risking 1,000, you should be looking to make 1,000 in a day trade, in an equity trade, okay? This isn't the buying power cash you need, but the amount you have at risk, because again, I'm using a stop. It's a limit order stop. If it hits, I'm out with a loss. We almost got stopped today in the queues. We did not. We did not. We had to stop at the right place. If I'm doing an option, I'm looking for anywhere from 50% to 100%, and I'm looking at the targets, 50% is good in an option. If you're risking 1,000, 500 dollars is a good profit. That's 50% return investment. If you're risking 1,000, you can hold to 1,000, but not every trade will be 100%. Okay? So 50% is good in an option. You're looking one to one in a day trade. Now, when I'm trading today, today was just a great example why I have such an edge in what I do, because I knew, I knew that we would drop today. I didn't know exactly what time that we would do it. We did it early, but I knew that we would. So today is a great example that gives me an edge. And again, every trade worked today and we did a lot, but the fact is this is what counts. Just going with the crowd may sometimes work, but in the end, you're not gonna go anywhere. In the end, you're gonna lose. And ultimately, you will also not only shave away the money or chip away the money, I should say in your account, when you're losing, even though you might win them lose, then win them lose, but overall you're down, it chips away at your confidence. I can tell you how many people I've talked to since I've had the Stock Swish business that I've taught that have come to me and asked me questions before they've signed up for the class, and they tell me their stories. They tell me their life story. They tell me horror stories. They tell me what they've been through. Listen, the confidence or the lack thereof really chips away at people too.  But a lot of times it's very difficult for people to get back their confidence. They lose confidence in the market. They lose confidence in paying for classes that they're ever gonna learn anything. They lose confidence in risking money. They think the system's rigged. People are saying that now about GMEY. There's nothing rigged there. There's nothing rigged. No one should be in that.   You've got to understand that having an edge is critical. Remember the pyramid. Remember the pyramid. Again, it's fatter at the bottom for a reason. Smaller at the top for the reason. I live in a really high building in New York City, one of the highest residential buildings in New York. I have a fabulous, fabulous view. There's less apartments at the top. There's penthouses. Lower apartments, more apartments. Why? Rent's cheaper. Rent's cheaper at the bottom. High rent at the top. It's quality. Quality view. You pay for it. Quality system, you're going to pay me. My class is seven grand. But again, that extra oomph that gives you the confidence to do it will allow you to risk $8,000 in a trade. Will allow you to risk $3,000 in a trade. Will allow you to risk $1,000 in a trade. Will allow you to open up an account at all and put 25 grand or whatever money you have that you want to trade and to take the trades. You have to have confidence to do that, okay? Any questions here so far? So again, opportunity sets of daily. For the most part, some days we don't have any trades. But for the most part, opportunity sets of daily and golden gaps and that's what counts to make money on a regular basis. I don't know what we're doing tomorrow. We'll see. To really to say why tomorrow is tomorrow. I look at the gaps in the pre-market in the morning. Sometimes we have gaps at night in the post-market but there's not much tonight. I think KB was out tonight. We can quick look at it. But it's not earnings season yet. Earning season starts in October in a few weeks. That'll be the busy season, okay? I still wait for the morning to rate all my gaps. Now, September 3rd before the holiday, we did BYND. We recently did an option in this too. Close to your gap down, fell, boom. Again, this is a gap. What did we do? We shorted it. We shorted it, it dropped, okay? So this is a little bit complicated here but I'm showing you the 15 minute of the BYND. Close to your gap down, fell.  Again, this was on 9-3. It was the Friday before Labor Day. So we did an add in this why. Again, confidence, conviction, good gap. Plopped it on, okay? You can take more risk when you know what you're doing. That's just a fact. So entry was 1-15-60. Then I added close to the price should to just squeeze more out of the trade. Then I added even more above the price. Plopped it on and the average price and was 1-15-86. Again, this is an advanced concept but it's a good one. Exit 1-13-80. Again, squeeze more out of it by adding, adding, adding. Again, nice drop. 1-13-80, 20,600. Now, you would have needed, again, this was cheaper than the Q's. This is cheaper than the VA, but to take 10,000 shares of something at 115 price point and change, you would have needed a good amount of buying power for this too. What if you only took 200 or 100 or 500? Again, less buying power, take less size. You can still make money. You can make money trading options with one contract. One. The one we talked about earlier, the spy, you could have taken one, risked $160 and one contract and made money. And if you have a small account, that's exactly what you have to do. But I'm showing you here how this idea of making even 20 grand a month, you can make 20 grand in one trade, in one day, in one hour trading.  You could have made that today. Any questions here so far? The only thing stopping you from taking big risk, well, there's two things. It's not just not having enough money if you don't have a big account. Even if you have a lot of money, if you don't know what to do, you're gonna lose it. There are plenty of people trading the market that have big accounts that lose money all the time. They refund it because they have money from doing something else, but they lose. I know people that are on the internet, that are tweeting stuff all the time, that are terrible traders. In fact, we're making fun of one today because I know that he was buying the market today. He probably bought the dip all the morning long, held it, was down a crap load of money, and then added it into the close, adding it into a negative trade. Reality is, again, that money is only one piece of it. If you know what to do, you could take a small account and make it a big account if you know what to do and you have confidence. You're better off doing that than having a huge amount of money and not knowing what to do and losing it. You've got to know what to do. It's extremely, extremely important. So this was a nice email from Jackie. She's been trading with me for a while. I think she did the class in 2014 or 2015. She's a student in the room that trains. She was a nurse. She's since has quit her job. She's been with me, like I said, for several years. Now she just trades full time. And she takes a small to medium risk. She's not taking some crazy risk, okay? But she's steady, green, green, green, green. Again, green and keeping the confidence. It's the earning power, earning power. When you know what to do, it's so important. Like you know you can do it again then. You know what I'm saying? And just like if you have a bad day, you'll know that if you're good at what you do, then you'll know that that was just an off day. That's not gonna be your reality. But when you have bad day, bad day, bad day, one good day, bad, bad, bad. Do you see like that's when things spin out of control, that's where you start to lose the confidence and you trade nervous and you're in fear, fear, fear, fear. So many people are in fear in the market. So many people are in fear trading. People are in fear right now. You think people aren't afraid right now after the sell-off in the market today despite the bounce into the clothes? No, people are afraid. High inflation, this thing, that thing, the other thing, the debt ceiling. So many things, people are in fear. They go home, they're in their 401ks, they're worried, okay? So if you want to trade for a living, you've gotta be consistent. But quite frankly, I mean, if you do two trades a year, you should know what you're doing. If you want to consistently make a lot of money in the market, the only way that will happen is if you have, number one, a high winning strategy, number two, good money management, and number three, a good mentor to follow. I do my best to teach with as much detail as possible. Again, the class is full on for 16 hours with an hour lunch break each day. But I try to be here for people to answer questions. You can call me on the phone. You can call me on the phone after the class. You're gonna email me. What do you think of this, Melody? What do you think of this? What do you think of the target? I really want people to be successful and it's one of the reasons why people like Jackie and other people too that have been with me for a long, long time. They don't have to be with me. They know what to do. They do the class already. They want to because they want my market expertise on it, particularly like a day like today, for example. Now, as far as how much time you want to spend, trading time of the day is key. Part of the title of the webinar tonight was part time because the hours of part time that you trade really, they don't have to be full time. Today was an anomaly. You don't get the market power training every day. It was in trades late today. That's not all the case. Usually we're in and out pretty quick in the first half hour or hour of the day. Again, I'm in and out quick. If you want to trade part time, I block out the first hour of the day to trade. If you want to just do options, you take the trade as soon as you take it. You can put a sell order in. It's a day order. If it fills by the end of the day and you're out, if it doesn't, you're still in the option until the next day, get up in the morning, put another sell order in. It's a cancel day order. We do not sit for six and a half hours to trade every day. The room closes in the morning early. I did today because it was worth it and I thought we continued to drop, but that was unusual. So if you want to trade for a living, part time or full time or do this, you can do it from home. Many people are still working home because of COVID and many people will be working home probably forever. The world has changed. People now are having options to work from home, which is actually positive. An old trader that was with me years ago could trade at work and then he got into a different office situation than he couldn't, then he had to stop and now he's back at home so he can get back to trading. So it's kind of a blessing in disguise now. He doesn't have someone looking over his shoulder and he can do his real job and also trade on the side. So it's more convenient I think now because of COVID and people working from home from the work from home situations. But the class I've always done in the weekend because most people work during the week, you need to have your full attention during the weekend class. The class is called the Golden Gate Course. It teaches a 26 point rating system to find the best stock to trade each day. The course also teaches you how to enter and exit the stock on the day. The course teaches you price analysis and technical analysis on an advanced level. Again, we did some basic coverage of this today. If you have questions, you can email me. If you have questions about the class, email me. If you want to trial for the trading room this week, you can email me too at melissa at the stockswash.com. Again, I don't know what we're gonna do tomorrow. I don't know what we're gonna do the next day, the next, the next. I take it one day at a time by looking at the gaps and the market. Today just happened to be an amazing day. Now, in the class, what else will you learn? One solid strategy to trade gaps effectively by reading the side of power in charts. It teaches how to read support and resistance to take positions in the right direction, which is critical. And it teaches a more proficient and advanced way to read charts focusing on technical analysis and gaps. Because again, that's what I did. Remember, it's technical analysis. Everything is on the daily. And it teaches how to get conviction in your trading in the market as a source of wealth by trading with the side of power for consistent profit. Having, booking money consistently, chunking it out. Chunking it, taking a small account and making a big account. I had a trader that started out with $5,000. He built this account up in six weeks to 25,000. Taking good trades, booking the money. No piggy targets, okay? Chunk it out. It is very important to be green. Once you start booking money consistently, you'll be amazed if you've been lost in the past. It's the consistency that really helps you get to the next level to help you risk more money to get to that point, okay? Again, this does not mean that every trader I take wins or call, but more win than lose. And once you see that, once you become part of the group and you see that, you can follow for a while. You don't even have to trade live right off the bat. Follow him, see if this works. Again, you can do a trial this week, come in the room, see what happens, all right? I call it 100% conviction, which is exactly what I said about the market today. You know, this helps me trade. It helps me take risk. It helps me put the risk on. It helps me hold something like today to a bigger target to make more money, okay?  I'm the vessel. I teach you my information that you're paying me for my time and my information, okay? But it's you that has to do it. You're pressing the button. You're getting in, you're getting out. You have to believe in yourself. And if you don't know what to do, if you don't have the information, if you don't understand it, if you don't have the knowledge, how are you gonna feel empowered? How are you gonna feel independent? The whole idea of making money from the market is something that you're doing independent. You're not going to work and making, you know, like, I don't know, widgets, okay? When you make money in the market, if you made $500 today, you took that money from somebody else. You were smarter than the person that lost that $500 you took away from a person. Could be somebody you know. Could be somebody you don't know. Always know your enemy who's on the opposite side of a trade. Again, I talked about that a little bit with who I know what some people are doing on the net. Not that I follow those people, but I'm aware how my enemies are thinking against me in trades. I understand the logic of what they're thinking, even though I know they're wrong and I'm right. At the end of the day, who is in the right? The one that wins, the one that wins the most. Understanding that that is the goal, okay? So if you want to sign up, the class is this weekend. It's called the Golden Gap course. I'm doing a special for earning season because this is the last class before earning season. And this is a great offer. The normal price of the class tuition is $6,999. I'm offering the trading room free for one year and the Gap Options newsletter free for one year with the class this weekend. You must sign up by Friday. If you cannot do this class, if you sign up and pay by Friday, you can do the class in October, which is I think October 9th and 10th. It's a weekend class. Let me just double check the dates, yeah, 9th and 10th. But this weekend's class is September 25th and 26th. It's 9 a.m. to 5 p.m. Eastern time. Again, I'm in New York. What will you learn? It's a full two-day course on how to strategically find pick and play stocks that are professional bearish gaps. Class is online. It could be anywhere in the world and take it. The benefit of this special is that you're gonna get all the trades for one year free plus you take the class and learn it. So that gives you plenty of time to decide if you wanna do options, date trades both. Personally, I like both. I like the big moves of the overnights. And I like the fast money and the date trades. You do not need a margin account to do options unless you wanna be in, out, in, out, in options, you can open up a cash account as well for options, but you need a margin account in order to do date trades, okay? Any questions here so far? If you would like a trial email me, let's see where the market is right now before we go.


Thank you everybody. I appreciate you all coming out on this rainy Thursday afternoon. I want to thank John Kennedy and the professor for having me back for another eight bells lecture. And it really is a great honor to be here and speak in the very spot that we think Mahan gave his lectures from, which is kind of intimidating. So as a bit of pre-flight business, as John mentioned, I am a Lieutenant Commander in the U.S. Navy and a Naval Aviator by trade, but today I am here in my personal capacity, and anything that I say is my opinion and my opinion alone and does not reflect any policy or thought by the Department of the Navy or any other entity. As the great American philosopher George Burns once said, the secret to a good sermon is to have a good beginning and a good ending and to have them as close together as possible. So today I am going to try and keep it relatively short so we might have some time for some discussion afterwards or some questions. In 1919, the United States reached a turning point in our nation's history. In the Spanish-American War, we had our first foray into the world's great powers or military powers, but it was after World War I that there could be no doubt that the United States was a great power. As men and ships steamed back across the Atlantic and the halls of power began debating the details of demobilization, a tall and bearded naval officer returned to his home here in Newport, Rhode Island. Admiral William Sims had played an important part in developing the Navy for its newfound place on the world stage. He rose through the ranks after his graduation from Annapolis in 1880, serving during a period of enormous change for our nation and our Navy. And he capped his career to that point as the commander of all U.S. naval forces in Europe during World War I. At the close of the conflict, he returned here to Newport and assumed the responsibilities of President of the Naval War College. He was quite possibly the most well-known naval officer of his age. Besides the obvious importance of his job during the war, in the 15 years prior to the war, he had had central roles in helping to modernize the Navy and bring the fleet into the 20th century. It was in 1901 as a lieutenant that he reached the defining moment in his career and became a force for change in the U.S. Navy. Deployed to the Asiatic Squadron on China Station, he developed the techniques of continuous aim fire which revolutionized naval gunnery. This discovery, or maybe more accurately the theft of this idea from the Royal Navy Captain Percy Scott, as well as his development of it and Sims's attempt to bring it to the fleet started a long and sometimes angry competition between him and the status quo forces of the Navy. It was a competition where Sims's greatest ally and protector was sometimes President Teddy Roosevelt. With the President's sponsorship, he was assigned as the Inspector of Target Practice for the Navy. In that position, Sims introduced this new method of gunnery to the fleet and fundamentally changed the way battleships fought. Sims was promoted to Lieutenant Commander and traveled to visit ships and help crews all across the world. In the span of just a few years, he and his team increased the speed with which American gunners hit their targets by 100% and the effectiveness of American batteries by 500%. American sailors became some of the best gunners in the world and they were on the leading edge of this revolution in naval warfare. Throughout the fleet, William Sims became known as, quote, the man who taught us how to shoot and this was all as a Lieutenant and a Lieutenant Commander. In the years leading up to World War I, Sims continued pushing boundaries in the Navy. He was an aggressive and vocal advocate for the all big gun battleship like the British Dreadnought class and he helped develop the methods of fire control which would come to dominate fleet tactics. He commanded his own battleship, leapfrogging several more senior officers to become the skipper of the USS Minnesota in 1909. In 1911, he came here to Newport to enroll in the Naval War College. After he completed the summer conference, he stayed on for the entire full year course and then he remained for another year as an instructor. During this time, he met and worked with men like Dudley Knox and Pete Ellis, men who would have incredibly outsized roles in the intellectual and strategic development of the Navy and the Marine Corps in the interwar years. After his time as a student and instructor, Sims remained in Newport as the commanding officer of the Atlantic Fleet's destroyer flotilla. In that role, he helped develop the tactics and operating concepts of this new class of warship and he worked closely with the junior officers who skippered these small combatants to help develop their ideas and how they thought the ships should fight. These were men like Lieutenant William Halsey. In 1917, he was selected to be the president of the Naval War College. But before he could settle in here and start his work, President Wilson asked him to go to London to consult with the Admiralty about the war that was raging in Europe. Under an assumed identity, he and his aide got on a ship and went to London to visit his friend, John Jellico, who had become the first sea lord. In the weeks later, the United States entered the war. Sims was promoted to Vice Admiral and he was placed in command of all naval forces in Europe. During the war, he was central to the adoption of a convoy system in which American and British destroyers turned the tables on the German U-boats and won the first battle of the Atlantic. When he returned here to the United States, he again took up the position of president of the Naval War College. And he helped establish the system of study and war gaming that would be used during the interwar years to develop American aviation and submarines. The Sims believed that there were a number of important lessons that the Navy and the nation needed to learn coming out of the Great War. The best way to ensure that American naval officers learned these lessons from their experience was to make sure there was an effective method of professional military education and that a proper mindset which valued critical thinking and innovation came to dominate the fleet. And as 1919 came to a close, having established himself back here in Newport with his family, Sims looked to address the incoming class, the first full class after the war. In his opening lecture here at the college, Sims elected to talk about his vision for professionalism and education in the Navy and Marine Corps. The lecture started out as an homage of sorts. It was titled The Practical Naval Officer, and it was the same title of a lecture given by Alfred Thayer Mahan almost 30 years before. Now, Sims and Mahan had been sparring partners on more than one occasion. It started when Sims was a midshipman in Annapolis, when then-Commander Mahan, the head of the gunnery department, wrote him up one night for being insubordinate to the duty officer. Decades later, the two men would have dueling articles in the pages of proceedings discussing the future of battleship construction and fleet constitution. In that article, Sims concludes by poking the great navalist squarely in the chest, saying, quote, I have attempted to show that Captain Mahan's conclusions are probably in error, unquote. But with another decade and a half of experience and his command experience in the Great War under his belt, Sims had come to embrace Mahan's view of strategic education and how to prepare officers for the highest responsibilities of command and policy. Sims' lecture here at the War College was an illumination of what he believed it took to make a strategic leader, a senior officer in the Navy and Marine Corps, who would be prepared to make the right decisions at the highest levels, both in combat and in the policy decisions that sometimes lead up to war. Sims lays out three elements that go into the creation of this leader, who's able to handle strategic and operational decision-making both in wartime and in peacetime. First, an officer needs an understanding of the past, an understanding of the great strategic thinkers and theorists, and the historical case studies that have helped students learn about the decision-making process. It's important that any professional military education starts as a genuine education, and that means deep reading and thinking and discussion in the classroom. He was a true believer in what was taught here at the Naval War College and still is today. It's vital that the education program here teach strategy and policy in what is an intense, intellectual and scholarly way. A deep reading of classic texts to help build better understanding and discussions that challenge us to think critically is a foundation on which the rest of an officer's career can be built. Referencing Mahan's original lecture, Sims told his students, quote, It shows with entire conclusiveness that the study of history of naval warfare is in no sense a theoretical proceeding, but essentially a practical one that is entirely indispensable as a preparation for actual conflict. He then went on to say, The primary object of the Naval War College is to study the principles of warfare as enunciated by the great masters of the art, to develop practical applications of these principles to war on the sea and under modern conditions, and then to train our minds to a high degree of precision and rapidity of decision in the correct application of these principles. So this quote kind of leads us to the second pillar of his three pillars of strategic education. It's something that he focused on and cemented into the curriculum here as President of the War College, something that he tried to kind of make fundamental to the culture. That's war gaming. After an education in the fundamentals of strategy, naval history, and theory, after learning the ideas and the principles, officers had to practice them. In this regard, Sims brought education and training together. He tells his students that he didn't want the first time they had to make a strategic decision to be in actual combat. As a senior officer, as an admiral leading a fleet, you ought to have approached the different challenges, the threats or attacks already, so that you can start to train your mind and your brain in a methodology of how to think through these challenges. It isn't that this kind of training is going to give you the same answers every time or even necessarily exactly right answers. Instead, by working through problems on the war gaming tables here at Newport, the Navy's future leaders would develop a method, a way to think that would allow them to approach decision making. It would help them think critically, but also make decisions quickly, because otherwise you lose the initiative. In Sims' view, war gaming was a fundamental part of the preparation of the strategic mind. And this is not war gaming in the way that some people in the Pentagon are in Washington D.C. view war gaming. Sometimes there it's seen as a way to derive data for operations research and ops analysis staffers to put into their spreadsheets and crunch in their equations. Because the results of these calculations are sometimes seen as scientific or definitive, the people that participate in the games are filled with senior and retired officers, think tankers and government civilians. The idea here is to run through set procedures and test which doctrine is right and which doctrine is wrong, even if war sometimes doesn't behave per a mathematical equation. This isn't the kind of war gaming that Sims is talking about. Sims is talking about playing out battles on the war gaming tables with lieutenant commanders and commanders who will learn about decision making and will learn about operational and strategical thinking. He's not talking about procedural compliance or doctrinal solutions. He's more interested in what war gamers call free play. There should be winners and there should be losers in the war games and the officers who are assuming those roles of the high command or making the decisions in the games can start to learn what it feels like and how to apply the principles and history that they've learned in the classroom. Hopefully, they'll also develop new ways of thinking and new ways of doing things. New applications of those historic principles based on weapons or new technology that are inserted into the games. The reason to start the war games though is to help the future leaders of the fleet build that thought process and that approach to strategic decision making that will be so vital in combat. Now the third pillar of professional military education that Sims discusses in the lecture is personal professional study. As I mentioned earlier, Sims first arrived here in Newport in 1911 and stayed on as an instructor. During that period, he came to the realization that he really hadn't prepared himself that well to be a senior officer in the Navy. He hadn't been reading, studying military history or leadership or international relations. He hadn't really been studying war in any way. He'd just been doing his day job. He'd been following the advice of his commanders and his department heads that says just take care of your job today, do it well, and everything else will take care of itself. After his experience here at Newport as a student, he realized that it really didn't teach him everything he needed to know. Instead, it gave him the foundation to know that there was still so much to learn and that he had to continue reading. I suspect, actually I hope, that many of the graduates from the War College here today still feel the same way. That pursuit of personal professional study through reading, thinking, talking with friends and mentors, coming together in groups to talk about the things you've read or learned is central to our profession. In some ways, it's suffered in the past few decades with the death of the officer club culture on most of our bases. But that sort of thing is what Sims is encouraging in his third pillar of PME. It has to carry on throughout a career. It has to start as a junior officer and build all the way to the years of command and senior leadership. It should involve mentoring, both up and down the chain of command. And discussion of new or recent developments in technology or international affairs informed by a continued reading of history and theory. After his term as a student and instructor here at the college, Sims wrote a small pamphlet on how graduates of the War College should help develop and mentor strategic thinking in the fleet. He had it printed at his own expense and distributed to all the ships in the fleet. You might arguably say he was an early blogger in this regard. Professionalism then is now, in his opinion, was about much more than the shine on your shoes than your rules of the road exam. It was about how hard we've studied the profession, the art and the science of naval warfare. The practical naval officer is contained in Chapter 3 of my book, 21st Century Sims, Innovation, Education and Leadership for the Modern Era. The book has five of Sims articles and lectures which encompass a wide-ranging examination of professionalism and naval education, as well as military innovation. Collected with the introduction to the book and small essays before each of the chapters to give some context into where he delivered or where he wrote these articles for, I hope that the book can return Sims thinking and writing to the modern discussion and the challenges of the 21st century. In his essay on the All Big Gun Battleship, readers are introduced to Sims early thinking on ship design and fleet constitution. It took a lot of guts for a newly promoted Lieutenant Commander to take on the great navalist Alfred Thayer Mahan to call him out by name and even say he was wrong. But the mastery of the subject which Sims demonstrates in this article can be a great lesson for the junior officers today who want to stand up for their ideas, but they must know that they have to master the subject and they have to do the hard work of searching and writing to back it up. Sims's lecture on military character is a study and leadership that also translates well today. He writes about leadership for the subordinate, leadership for the junior officer and the NCO, the non-commissioned officer instead of from the perspective of the great captains and commanders of the past. In this lecture which he turned into an article he discusses mission command and the need for the junior leader to make his decisions his loyalty to his boss and his organization with his desire to demonstrate his own initiative and make his own decisions. Today as the chairman of the Joint Chiefs General Dempsey preaches the tenets of mission command this chapter is particularly relevant as it casts this discussion with a navalist's eye and from a different perspective. The article military conservatism which began as a lecture here at the war college across the military services even up to the office of the secretary of defense the favored buzzword today seems to be innovation. Now Sims was a vital innovator during his time in uniform and what he discovered was that new ideas new technologies and new weapons are always going to have to struggle against the forces of the status quo. In this article he examines why that is the essentially conservative culture of the military and of the navy and what is needed in order to overcome that conservative culture. He tells us that quote our objective must not be safety first in the sense of adherence to already tested practices and implements but safety first in being the first to recognize the first to experiment with and the first to adopt improvements of distinct military value. Now there's much more collected in the book and as we approach the centenary of our entry into World War I Sims shadow is going to fall widely across the history which we're going to commemorate but his ideas and his thinking and writing have just as much relevance today as they did a hundred years ago. 21st century Sims and my previous book 21st century Mahan were not written to provide prescriptions or equations that will guarantee success today or that will help us face the challenges of tomorrow. Instead from the writing of Sims, Mahan and the other authors and thinkers that we're collecting in the 21st century foundation series readers will see some of what has worked in the past and some of what hasn't. Instead of giving us answers this will help us be better to ask better able to ask the right questions in order to address the challenges we face today. Thank you very much. Sir. How was he received by the British admiral in that first war? He was very well received. Was he really? Sims was a bit of an angle of file like Mahan in that way and got along very well with the British. In fact that's why President Wilson sent him there. It was known that he had good relationships with the admiralty and with the senior leaders of the Royal Navy so when Wilson realized look we're going to enter this war it's going to happen. They turned to Sims to send him over there to start gathering the intelligence and getting us up to speed because they knew he wouldn't have to introduce himself. He already had a trusting relationship with them. In fact he got himself in some trouble as a commander at one point. He was on a port call visiting London and there was a dinner at Guild Hall anyone's ever been to Guild Hall in London they had a dinner there for the officers of the ships that were visiting and he got up and gave an impromptu toast slash speech all about how the Americans and the British should be allies and this was ten years before World War I when we were still developing war plans for a war with Great Britain. So this was a big deal he was way out on a limb he got himself in a little bit of trouble for it but when it came time to send someone to go talk to the Admiralty he was obviously the right man for the job. There's a bit of a follow under that how much insight did he provide in the way of knowing your enemy or go perhaps to Pan or was he a little bit ahead of that time? So he was a little bit ahead of that time his influence in that regard his influence on World War II like I said is this idea of how you structure military education that he solidified and cemented here much of the things that he did war gaming the curriculum, the study of the great strategists was stuff that was done at the war college that he did as a student at the war college and coming out of World War I of a great conflict, a great experience you can either double down on the system make some improvements to it but make sure it keeps working or you can scrap it and try something entirely new he doubled down on the system he wanted to make it solidified and so there's actually a picture over there with his uniform which is in the display case of the class of 23 which was the last class that he oversaw as president and just kind of above him in the picture is Captain Nimitz who was a graduate of that class and so Commander Stark was also in that class so most of the major figures of World War II learned from the system that Sims solidified here as president of the war college what effect did the steam turbine have on the development of the Navy ships and fulfilling with higher pressure boilings? well obviously the technical elements of that were hugely important in the battleship development of those years admittedly in the book I try to avoid the technical there is some of the technical stuff in the first essay which is about the all big gun battleship and the tactical elements of that but the problem is if you get yourself too steeped into those historical technical elements it's going to be a lot harder to pitch to modern readers and officers like myself why this is important to them today so I tried to focus on the work that he did that was more of the strategic or even professional and philosophical nature ma'am I'm interested in Sims the innovator I'm thinking about him being in the 21st century with unmanned systems and he was doing the strategic thinking and looking for today how do you imagine this issue? I suspect he would be the biggest proponent of unmanned systems because in his day he was probably the biggest well not the biggest amongst the biggest naval proponents of air power coming out of World War I air power was still not a foregone conclusion especially naval air power and Sims and his friend Bradley Fisk and Washington chambers were central to at those senior levels getting out there and saying look this is the future we have to get our minds wrapped around this in fact in his years here in the early 20s as president he wrote a letter to Bradley Fisk who was a fellow admiral and innovator in the Navy in which he Sims the battleship guy his entire career was based on battleships he wrote in the letter that the battleship is dead aviation is going to kill the battleship and I think it was either 21 or 22 that he wrote that letter so he was very much on the forefront of that discussion in fact in the military conservatism essay that's in the book at the end of it he explicitly gets to the discussion of both submarines and aviation and how the Navy is screwing up the way they're looking at it at that point in the early 20s because the Navy's conservative culture is fighting this change sir yes I also enjoy your talk addressing the issue of the inertia overcoming inertia of safety I'd also add comfort and safety in there we see this throughout society education not only the military religious institutions do you have any specific thoughts of how to sort of prick that bubble of comfort and safety yeah he gets to it in a roundabout way in his kind of preaching of professionalism or what he viewed as professionalism you know he says that it's it's our job as naval officers as military officers it's our job to be looking for the new or the different to take ourselves out of our comfort zones and as you point out that's not necessarily a very common belief now one of the essays it's collected here towards the end of the book is one that he wrote an article he wrote about the promotion system at the time and the promotion system at the time had just changed in 1916 the naval personnel act is passed and it introduces the idea of promotion by selection everything else up in that until that point was known as waiting for dead men's shoes someone retired or died everybody moved up one position and the act of 1916 introduces promotion by selection where a promotion board sits down and picks the best candidates from promotion to higher ranks so he writes this article about 15 or 16 years later because it doesn't really get implemented until after the first world war because as you run into a mass mobilization of world war one you promote everybody and so it's after world war one that it starts to get implemented in the early 30s he writes this article about the problems that this system creates and one of the things he discusses in it is you're going to have a certain element of the naval officer corps that's going to fight this because they want to be comfortable they like the security and the comfort of knowing that waiting for dead men's shoes means they will eventually promote and so he does talk about it but it's usually in a kind of a philosophical way when discussing other subjects he's obviously written for the professional naval officer but he was there for the expansion during world war one and I assume it applies to world war two where you're expanding you just mentioned that how did he feel about the training of people who are coming into a new expanded Navy? yeah that's actually so the article or essay on military character which I referenced before is explicitly about that so he was invited in and I'm drawing a blank I think it was 1915 as a captain to provide this lecture on military character and it was it was based well it was 15 because it's 100 years ago because it was arguably the birth of the naval reserves the naval volunteers were put together during this time period when the US saw the war in Europe and kind of knew that there's a good chance we're going to get sucked into this but we weren't mobilizing yet and so the department of the Navy put together this group to try and introduce people who were interested in naval service the basics of what it was and it was really a lecture series they took some folks out on a ship for a week or so to let them see what it was like but Sims was asked to deliver this lecture on military character to this group of people who were going to be junior officers maybe relatively mid grade enlisted if a mass mobilization happens and so that's why his essay is very much targeted at that audience not the audience that are going to stay in the Navy and promote up and become admiral someday but the audience that is going to have to do their job and do it well for a few years during the war and what are the kinds of things that they need to know about leadership and about professionalism kind of from that angle and through that prism so it's an interesting study in that regard that he's taking his to that point 30 plus years of experience in the Navy as a career guy and realizing that not everybody is a career guy and that there are still lessons that need to be passed on the interesting dynamic of that is if you're a civilian and you read that essay it's an essay about leadership and character period military or otherwise there are a lot of great lessons in there that folks in industry in the commercial sector in civilian elements of government can learn from as well just out of curiosity one thing how tall was he clearly above average the seams in the picture professor do you know his actual height? I don't no but he was pretty small I was his uniform the uniform actually looks relatively small over there probably there's a relative issue with sizes of the average population 100 years ago as well the other question is I was never in the Navy know nothing about boats what were the specific steps that he instituted that made the artillery so much more effective that hadn't been done before so arguably gunnery hadn't really changed much since the age of sale to that point in terms of technique you had rifle guns so they shot further you had shells now so there were improvements but the actual techniques of gunnery hadn't changed that much which is why Nelson always fought at pistol shot the technique at that time was you'd set the gun elevation the gun director would make a guess as to how far away you know they'd measure how far away the enemy ship was he'd set the elevation of the gun and then you basically kind of time the role of the ship to shoot and try and hit them it's where the phrase firing on the up roll comes from right if you're firing on the up roll you're trying to get it as far as possible so that's where that turn of phrase comes from so what Percy Scott was doing in the Royal Navy that Sims did frankly steal was the guns at the turn of the century had much greater ranges that would be far more effective if you could actually aim them and so he changed the gearing that controlled the elevation of the gun and he made the gearing as small as possible so that the gun director could turn the wheel and constantly be changing how the gun was situated relative to the deck of the ship and as the ship rolled he's constantly changing the gun now it's staying pointed at the enemy the entire time instead of rolling with the ship the guns now aimed at the enemy ship continuously continuous aim fire so now the gun crew can shoot as fast as they can reload and they added a telescopic sight to the gun so now they can see far enough to match the range of the weapon by doing those things and there were some training devices called daughters that went into it some other techniques but that was the fundamentals of it was changing the gearing of the gun and teaching the gun director to continuously aim at the enemy and then his gun crew they could shoot as fast as they could reload one thing you didn't mention is the Tower of Annapolis you wouldn't in the Navy when I was in the Korean War I was told by one of your officers that I might get to be a lieutenant commander after 30 years and I figured why am I restricted and he said you went to the wrong school well so in those days though there was no other school in sims day the naval academy produced all of the officers so there was no ROTC there really wasn't any OCS until after world war one in that period is when those systems started to develop so in sims day in mehans day everybody who kind of came up in the 19th and late 19th century there everybody was in anapolis grad and that's kind of part of the reason why everyone seems to know each other also and you get these animosities that date back to when they were midshipmen together that are still showing themselves as admirals they're still arguing over fights that they had 40 years ago in anapolis but you raise a good point that as the officer corps commissioning sources changed the culture in the navy did have adjustments to be made but that was after this in terms of the historical part sir he did in fact the one picture back here is of him and FDR when assistant secretary the navy Roosevelt came to visit him in London so they did know each other they did work they never really worked together because while sims was on the short list for cno when he came back from the war he also was a bit outspoken and managed to get himself into a little bit of trouble when he spoke his mind in congressional testimony and directly challenged the secretary of the navy on some of the decisions he had made so sims was not in line to become the cno after that but yes they certainly knew each other and at that senior level of navy decision making worked in the same halls did he affect Roosevelt's thinking at all other than losing the job so I don't know that from my limited admittedly limited reading of Roosevelt's experience as assistant secretary of the navy Roosevelt came out of that experience having been the middle man so to speak he was the peacemaker between the secretary Josephus Daniels who had his very specific ways of wanting to do certain things and not carrying what the uniforms thought all the time and the uniforms who thought this crazy civilian had no right telling them what to do both of which probably in the end turned out to be a little bit wrong in both regards but FDR was in the middle and so he was the one who got to know these officers now sims himself and his cohort, his peer group probably didn't have that much direct impact it was the guys that were their subordinates folks like Dudley Knox who I mentioned before who becomes very close to FDR in the interwar years he worked for sims on the staff in London when he was a captain and he had studied here at the war college with him now Knox goes on to a very significant advisory position to FDR in those interwar years as he runs the navy library and the navy historical center but it's those kinds of people it's that generational mentorship and leadership that has the most impact I think probably we have time for about one more BJ's got to get back across the way they're having a conference so one more question anybody thank you so much for coming


Ready, wow his eyes look really funny there. I gotta clip that We might have to get the screenshot of that face everything. Okay. This is all your fault Oh, I know who you're not voting for in the next election. Sorry I Have a habit of making bad jokes in 10 situations Tell me by the spider-man. It's like all you do is joke It was a good joke Parker Just a bit of an overreaction on my part. No, don't worry Why don't you take a break? I'll clean this up and get us ready for another test Okay, little kid. I'll do what you say I'm gonna go over here moat. So, uh, I hope you don't mind me asking but It seems you and Norman have a bit of a history We were lab partners in college We came friends Decided to start a business we both had visions of Changing the world just in different ways wait You were at Oz corp when it started. I'm half the reason it's called Oz corp Ain't grad school. Everyone called us the O's Had corp to that and well It is a catchy name Well, why'd you leave? Norman became more and more obsessed with genetics He started a project. I considered unethical And there was this anyway lawyers gotten involved. I Chose to leave in exchange for a settlement But that money didn't last very long I've relied on grants ever since If this project doesn't work, don't worry, it'll work Let me let me just fix this up I'll brew some fresh coffee. I've got to fix something For Octavia's industries be sure to run a diagnostic on the control unit So it needs to be five voters in the six Okay Clearly you're going the wrong way. I mean you need to Rotate this this way and Then you go over here.  I'm like, all right. You want to go this way too? I can rotate this Everybody be happy and get this guy right here put them right there and then put the minus two I don't have a minus to have a minus one. So I go over here and put it minus three And then everybody's like, wow, how'd you do that? I'm like man it was science Maybe like wow. I'm that. Yep. I can't remove these. Oh my goodness. I can move that one But I have to remove that one And then we can do this and then this And we just have to get the voltage right so now it's five and you need one more come over here and be like Take out four put five in oh Viola I fixed it. You see anything. Oh, why don't you do the honors this time? I think we did it Next step neural interface. No, that's a lot of work for you to do by yourself I'm sure you can handle it apparently not judging by today's debacle because I still don't know my friends are still I know It's okay. Don't worry. I'll figure it out What's a few bucks when you're trying to change the world, right? So Tommy welcome changing the world So changing the world Yep, let's call from mj Doctor I need to go but I'll be back later. Don't worry. The work will still be here when you get back What's that That's what He's like, what's that? I don't know you tell me probably got enough points for another skill now Hey, sorry. I missed your call. We still got three skill points dinner else, but Yeah, we should talk over dinner offer still stands for me to come over and cook grab some stuff at the store and let you know And I'm home. Okay. Talk soon. All right dinner at mj's Your boy's got a new suit stealth big time Create the distortion field that can obscure you from non-alerted enemies vision Now that is cool, but I need challenge tokens. I still haven't got any challenges unlocked Challenge tokens like everything I need requires challenge tokens now except for that guy And that guy I can get that one if I want to Just crime tokens Not gonna wear it, but You got the wrestler suit King of the ring web throw enemies without having to web Web them up. That's cool. Let's pray my spiders again yes Indeed All right, what are we gonna get next? I might just fill up this Oh, yeah, we can throw the we can throw the weapons back I'm scared tactics. Take the annotations. It'll be hard to screw this Guess all this freelance for a while until she calls I got a research. I haven't done. I thought I did them all But there's crime We what's going on here? What's going on anybody want to clue me in what's going on? I'm gonna come over here and I'm gonna do this Whoa, I forgot about the ability apparently I changed my suit power to spider bruise, right? No, what was it hollow decoy? um But you know, I always I just want web blossom chat Goodbye Oh, you're oh I thought that was all of them when it slowed down Wow, I messed that up Exactly game rex. Let me go do this mission.  Um, but yeah, there's a research here. I thought I did them all There's oh, oh Oh Wow, I missed quite a few of the researches. All right, I thought that was done Baxanate the fish We're just trying to make themselves look cool with this Day night thank you This lab monitors the health of marine life and we've got a bunch of medicine on site if you need it But the effects these diseases have they're just They are not something any living creature should go looks like there's a bacterial infection in the fish I better take care of it before the food supply is contaminated Found an antibacterial spray in the lab that should heal the fish I just need to spray it over the water And fast water start getting sick That's virus nemesis I bet whatever's in those barrels caused the problem. Gotta get him out of the water That's it. Okay. Just gotta yank these barrels out Seems easy enough These barrels are smarter than some of the guys I usually fight Ha What You can slide down this I saw that you can't hide that from me spider-man Oh, I can't That's not web swingable apparently definitely the source of the bacteria. I'll get rid of them crap Great thing about barrels. I don't shoot at me whips Rips in peps chat Downside is I don't think these barrels appreciate my quips Quip a toothbrush part of that using Really That was a little tricky Okay I'm tired of getting wet. I know people are excited spider-man can swim, but you know what I'm not Good for you This is why I never had an aquarium, but if someone calls this into jameson as spider-man Water polluters scan my finny friends and make sure they're cured Whoa, how'd I do that? Well by the standards of the docks He stopped an outbreak before it started It'll be tough for us corp to argue this station isn't pulling its weight. Oh, go go go Um, okay So leave On a clear day Have dinner with mj. How about no How about I have dinner with me speaking of dinner chat? I gotta eat. I am starving. Um, so what we're gonna do Hey, mj see what you come up with I'm gonna take a break right here prepare to be amazed Thanks so much for watching feel free to follow the stream. Why am I looking that way? If you are enjoying yourself, follow me on twitter at twitter.com Slash one a I want the awesomeness up here a turn There you go Good god spider-man. I'm so I want to look at you if you can look at me now Fine. I'll look at the sunset. All right guys. I'll be right back. Thanks so much for watching I gotta get some food. It might be like five to ten minutes before I get back. I'll see you in a bit Thanks for watching Prison's but isn't the whole point of them that there isn't anything else more secure I mean he's a 700 pound maniac with an indestructible horn If there's a more secure cell Why wasn't he in it? And without further ado Mj. I'm at location number two Can you believe these demons wear their masks just like walking around? Let's make for confusing staff meetings I'll try to figure out their operation while you throw a wrench into it We just need to know the point I'm as a shock, but I don't think they're really bespoke


You have a tell me a little bit about why you chose not only the color you chose, but does the color represent anything in relationship to the TORQ field? Because I like the colors. I like gold, don't you? It actually matches your background there. So you've got like a gold in the white theme. So I just feel white is a nice color for healing and gold is a color abundance and prosperity and renewal. So I thought that it would be great to grade this and it works very well. We have these ones that are copper. So if you're wondering what these are, these are actually treated copper wire and these are gold enameled copper wiring. So we do use copper and if you study metaphysics, you know copper has a lot of healing properties on their own.


Hello, and welcome to this presentation of the STM32 MP1 ARM-MPU Core. The STM32 MP1 series integrates a Cortex-A7 Core from ARM in order to support a range of full operating systems including Linux and Android with a high level of performance and a low power consumption. The Cortex-A7 Core includes 1 or 2 32-bit cores with complete SMP support with full HW coherence. The Cortex-A7 Core also supports trust zone security with separated secure and non-secure execution modes. Each core includes a 32 kilobyte data and 32 kilobyte instruction cache and a common unified level 2 cache of 256 kilobytes, all having zero weight states and running at processor speed. NEON is an advanced simple instruction multiple data or SIMD instruction set for further acceleration of media and signal processing functions. A single and double precision FPU is also present. A generic interrupt controller supports up to 224 interrupt lines with security and multi-core routing. For more details please refer to the ARM website on which you will find all information about the Cortex-A7 Core.


And on it goes for Martina, Niasz. Niasz with the ball for Davis, cut out in the end by Marty. Looked as though it might run Davis's way. It's run Ziggerson's way here. Ziggerson's cut back, Theo Wolcott scores for Everton. Only his second appearance for the Blues. He's up and running. Everton in front. Wolcott was in acres of space here as Everton won the ball back. That lest a mistake, punished. Ziggerson picked out Wolcott. Thank you very much. A goal at Goodison for Theo Wolcott. A delighted Theo Wolcott. Ziggerson spotted him. He wasn't gonna miss that, was he? Everton won, less than ill. Celebration time. Ziggerson takes away by Al Brighton. Only as far as Ziggerson. Now Wolcott, good turn. Picks out Ziggerson. Ziggerson across the face of goal and missed by Umonias. What a chance. What a chance. He knows it. Everton should be two up. Theo Wolcott involved here. Great ball into the path of Ziggerson. And a poor clearance by Amarty presented the chance to Umonias, who really will feel he should have scored. Rooney takes it from Okazaki. Can't find Wolcott. Look like hands of Harry McGuire there and that is the case. It's a free kick. Played short this time by Everton. Rooney into the box, off the head of Keane. It's Wolcott again at the double. What a January acquisition he is proving to me. Theo Wolcott wraps it home. It's his night so far. The chance of Theo Theo from the Everton fans. Two for him, two for the Blues. Lester punished brilliantly finished by Theo Wolcott. Rooney with the initial ball into the box. The header missed place. The shot firmly dispatched into the back of the Lester net. Everton have conceded a penalty. Wayne Rooney is deemed to have dragged back his man and queries the decision from Chris Kavana, our man in the middle tonight. And he states there was a pull here on Wilfred and Dee Dee and he's given the penalty. Well, well, well. Everton have conceded a penalty here. Can Jordan Pickford get the better of Jamie Vardy? He's been a penalty saving hero before as Pickford, not this time. Vardy sends him the wrong way, tucks it home into the corner and with just under 20 minutes remaining, Lester are back in it.