Oh, TLO, what's poppin'? We are on Twitch. We are not live, but you can leave a like, comment, subscribe, turn on your post notification bell, so let's continue to grow the family from Chicago to the UK. Now normally the Spotify playlist will be behind me, but I forgot to pull it up. That does not mean that this video right here does not need to be rated a 7 or better to make that Spotify playlist. We do rank everything, the Spotify playlist is down in the description below, man. Let's get into this, man. This is Booter Bee featuring Millions, Dr. Miami, ah, man, this should be, this should be cool. Disclaimer, good cap, M1 on the beat, kind of a rock star, little rock star sample, where they at? Right, the first thing's first, this is the Booter Bee that I like to see. The last song Booter Bee dropped, I was not feeling it. I don't know what he was going for, but it just wasn't for me. Let's get negative. Wait, wait, wait, what? I don't think I ever heard Millions get that rude, that negative. Can't trill in the crowd and think they're safe, jump out and bullet the Barbies. So for the ops, demand them the ops, don't think you safe within that crowd. You heard that, man, it's on burst. He hitting barries and all, you two keep in mind, I do not condone violence.  I can tell you about in-house ones where it got tense, shut up his yard, left corner, his mom's bed, false alarm head, the Barbies. I can tell you about in-house ones where it got tense, shut up his yard, left corner. She just happy to be a part of something, not in my bag.  Who's that man? Wait there one sec. You ever seen Usain Bolt in one-times? That was when he ran with his long legs, pistol for hop out the ride and it's not down. Talk is cheap, but the chat's gonna cost that. Let them troll me as much as they want on a net.  What makes you think I'ma swing my hands, swang my shank and... Talk about it, repeat it.  What makes you think I'ma swing my hands? Yeah, I didn't spend, like speaking on his behalf, I didn't spend 10K on this glock. Just throw hands with you, stop it.  O.T. Trappers heart smile function when he see the black O9 focus pulling up, he try and G check that got a reverse on the way to the hospital holding his stomach out to Miami. Tommy top, don't lose, set the drink up, get bully top, I'm pulling up, I need me a gun in hoes. Your Godfam no one's pulling up, get the idea I'm rolling quick. Millions negativity with this flow is a little bit different. Your Godfam no one's pulling up, get the idea I'm rolling quick. Your Godfam no one's pulling up, get the idea I'm rolling quick. Snap that shotgun barrel in half, I'm sliding luga bells in clips. Don't put slap then skid, I slapped his dad and I've wrapped his kid. Bring up the mash, I'm not brandishing it. Slapped off two, watch me strangle the stick. I slapped his dad and I've wrapped his kid. What did his dad and his child have to do? So you, what you doing Buddha B is eliminated in the whole bloodline. You don't want nobody to ever come back. You don't want no future. You got the mash, I'm not brandishing it. Slapped off two, watch me strangle the stick. I fought my man was caught and I caught any sassy ways. The petrol burning my open pores thinking but I had to bathe. The YG's rambles twinning while me and Jimmy got matching caves. I really want to shoot his mom in the face if I'm always mad to say. This gotta be millions most negative song. He's talking about shooting somebody mom in the face. Now this is an art form. Remember YouTube, this is art. They're just talking. I'm mad. Must be crazy. Still need ninja teeth for the baby. Still need separate bits for the A3. Still worked up even when man's mainstream. Four door, three man, two burners. One shot from the Glock nine, it's curtains.  Lee not one, I close when I burst it. I liked the little team thing they did at the end. That was lit. This the kid and the dad I was talking about? They right here.  I'm not even gonna lie man. When I left this play in the car I would let this play. On a scale of one to ten, one being stop rapping, five being medium, seven being the best thing I ever heard. I gotta be real with myself. Was it negative, it was negative. But I wouldn't give it like no eight for sure. No, no, it can't be an eight. But it was millions most negative thing I ever heard and rapped about. Viewer discretion advised. I would rate this like a, I'ma go 6.8 for me at least. It was negative, but it wasn't the best from either that I've heard. You know what I'm saying? Ten is the best thing I've ever heard. You get on the hand? Five is average. This is above average. 6.9 is above average. I don't know.


Stevenson falls to Albright, 80 to 63 today at Owings Mills Gymnasium. Glenn Clark with Stevenson, head coach Gary Stewart. Coach, you fell behind 15-0 to start the game. I know you went quickly to your bench.  Well, ultimately, that's my responsibility. And we weren't ready to play at the start. And against a good team, you know, they pinned our ears back and just got five minutes into the game. We've got a significant deficit and couldn't crawl out of it. Coach, you were able to get it back within four late in the first half and it was still only a seven-point game at the start of the second half. Where was, you know, what was the energy like? Why were you not able to sort of continue that as the second half began? Well, we struggle when our offense isn't going well and we haven't been able to get past that. And so today when it wasn't going well, then we lost some concentration defensively in terms of rotations and the responsibilities. And it was kind of a complete debacle on the offense event for us today. We struggled at the free throw line, I think 16-31. Struggled from three. We took way too many threes and just never got into a rhythm. Coach, you know, what can change? Obviously you're mired now in a six-game losing streak and things have not gone the way in conference play that you wanted them to go after a pretty promising non-conference portion of the schedule. What can change? How does this team get up off the floor and turn things around in the late stages of conference play? Well, Glenn, I think if it was easy just to say, you know, look at something and hit two buttons and it changes, I think we would. I mean, we're working at it and our guys are working at it and, you know, sometimes it works and sometimes it doesn't, right now it's not. And we'll keep trying to find a way until we see some progress. But right now we're struggling and not making the adjustments that we need. And obviously it doesn't get easier going on the road for a pair of games this week? Yeah, it's not so much the opponent as it is us. I mean, it's defensive rotations. It's taking care of the basketball. I mean, when you are playing at home this late in the season and you go the free throw line 31 times, that's a good thing. We just got to capitalize on that. And today we weren't able to. Coach, I appreciate you coming over and spending some time with us. Thank you, Glenn. He's Coach Gary Stewart. I'm Glenn Clark for GoMustangSports.com.


Hey everybody, it's Hari Swaminathan from optiontiger.com. I'm following up on yesterday's video on swing trading mastery Want to give a bit more detail and throw in an exciting kicker for this class So we are going to create some sort of a goal or objective to work towards and especially given that these are challenging markets We want to put some kind of a performance Metric on this class itself. And so that's the detail you're going to be seeing in this video So once again, this is a trader max style class It's a mini version of one to one and a half hours each day for four weeks And what we're going to do is use a max trading capital of 50k now as we know that pattern day trader Limits are at 25k so we don't want to mess with that and 50k generally seems to be the sweet spot for most of swing trading Accounts, so we're going to use 50k and Out of the 50k we will use a max of 35 to 40k only at all times So in terms of margin usage, that'll be the maximum usage So we always have to keep something as gunpowder in case we need it now granted If you never want to use it then there's no point in keeping it But the point is that we keep it only for extreme circumstances where some really crazy moves have made our positions Go in a bad spot. Then we use some of that capital But unless something like that happens we generally try not to use it and even from yesterday's Action, you know, we know that markets are very volatile They're going up or down 50 60 points on the SMP on a daily basis And so it's a great time for bullish trades as well as bearish trades because there are many stocks You're going in both directions and once again, like I said the best time to learn is in challenging markets So if we can have some kind of a performance metric and if we meet that then During calm markets things will be much much easier. And so that's what we're going to get into next So this is the exciting kicker for the class Now in a swing trading approach in general if you can do 10% a month That is actually fantastic because you're obviously busy with some of the jobs You're not doing it on a very hands-on basis. And so 10% a month is an excellent return And we are also faced with challenging times at this present time. And so let's make it more interesting Let's put a performance metric for this four-week class What I'm saying is if the ROI is less than 10% in four weeks and the ROI is going to be calculated on the 50k And if it's less than 10% then you get a 50% refund And if it's less than 5% then you get a full refund So less than 5% means even if it's zero or less you get full refund so once again, I think this an exciting kicker and We'll make the class so much more interesting and pick out the best trades do the best adjustments Keep a watchful eye because we are in challenging times and it provides us with all of those incentives to do well If we can do that in the challenging market then calm markets will be much much easier to manage So finally the details once again the early board special is up until April 12th And after that the price goes from 297 to 497 The way to register is PayPal.me slash option tiger dot slash 297 So look forward to seeing you guys if anybody has any questions You can send me an email at info at option tiger.com. Thank you


So remember to check out edneathen.com for latest updates and email feedback at edneathen.com to tell us exactly what we're doing right and how fantastic our panelists were. And yeah, we'll do that. So this is Ed and Ethan. You are still with Ed and Ethan. Believe it or not, you're still here. It's incredible. Are you not amazed with the content so far? I am. I definitely am. Okay, Ed is.  Of course. Check out worldlibertynews.com where we recently have been syndicated. And also lrn.fm, we've been added to their podcast lineup. Indeed, yes. So thanks to Ian Freeman for that. We have, so we've been mentioning the interview again and again because we are obviously exceptionally excited about it. Coming to us now from Houston, Texas is Stefan Kinsella. Stefan Kinsella is an attorney in Houston, director of the Center for the Study of Innovative Freedom and Editor of Libertarian Papers at LibertarianPapers.org. Commonly featured on mesus.com or mesus.org, I'm sorry, .org. So, Stefan, thank you very much for joining us on the line today. How does the day find you? Oh, it's a wonderful day here in Houston. I'm really glad to be here and excited to have a discussion with you guys. Fantastic. So now, Stefan, we're going to talk to you about IP, intellectual property, and all of the various... I get there are a lot of angles to this discussion that we can take. But why don't you tell us just a little bit about yourself first. I've given you an intro, but what is your role in the world of intellectual property? What do you do? Well, I've been a practicing attorney for about 20 years, mostly here in Houston, a little bit in Philadelphia for a while. And most of that time, I've been a patent attorney, which is a type of IP attorney or intellectual property attorney. I've also done trademark and copyright type work, but I'm heavily specialized in a very narrow field of patents, which is related to electrical engineering type technology, primarily lasers and computer technology, things like that. So I'm heavily specialized, which is how this field works. Patent attorneys, IP attorneys are very, very narrow and specialized in their fields because their work is highly technical. But for about the same amount of time, maybe a little bit longer. I've also been heavily involved in the libertarian movement, primarily from the theory kind of point of view. I've written a lot of academic scholarly type articles on rights theory, legal theory, economics and the law. And I've been for a long time a pretty devout, Rothbardian, Austrian, anarcho-capitalist type libertarian. So now, how do you find being an IP lawyer? Well, I guess, actually, let's get you to elucidate just a little bit on what it is your vision of intellectual property is. Do you think it's a kind of a valid claim that the labor of one's brain is... Yeah, well, let's maybe understand from a status perspective of what IP is and how statuses see it or the government sees it, I guess. Let me tell you how I approached it from my own development. I mean, when I became a budding libertarian in college and then in law school, I assumed that intellectual property was a legitimate subset or type of property right because many libertarians like Ayn Rand and others held that view. But I was always uncomfortable with it because something about it seemed a little bit different than there are other arguments because these arguments had more of a utilitarian or arbitrary strain because you're saying that you should have these rights for 17 years or 70 years or whatever, but not forever and not for zero, but somewhere in between. And it just didn't seem like the regular arguments that libertarians made about natural rights that lasted forever and when I started practicing IP law because of just the way my career developed, I of course thought more and more about it, like, is this type of thing I'm doing really... Is this the way it would be in a free market, in a free society? And eventually it came to my current view, it's probably 1993 or so, about 20 years ago. I finally gave up the ghost and realized, no, this is just a big mistake. It was too hard to deny now.  So it was like that. So my view now, which is clear because I've thought about it for the last 20 years, is that really we've made a huge mistake in Western law. We adopted these IP rights, patent and copyright primarily, like in the US Constitution in 1789. We adopted them for sort of utilitarian reasons, and we thought we would encourage innovation by doing this. And this is, of course, not really a libertarian approach to law, but you determine what laws are just by deciding what's going to encourage, what you want to encourage. That's more of a Chicago or wealth maximization or utilitarian approach. Well, let's actually approach that specifically because you say one of the reasons that we go after IP is because we want to encourage innovation. One of the things that artists see or innovators see is that when they innovate, they create a unique product, a unique idea. They want to protect that idea so that first off, they can profit from it as anybody should be able to profit from a product in the market. And second, so that they're able to make enough profit that they're able to continue innovating. This is the argument. It sounds very legitimate on a surface. Why is that a flawed argument? Well, okay, so I think it's flawed for several reasons. Number one, this is not how you decide what law should be. Law should be doing justice. And ultimately that comes down to protecting property rights. And property rights, the entire purpose of property rights is to assign an exclusive owner to a given scarce resource that otherwise would have potential conflict over its use so that people can use these things peacefully. So we libertarians tend to gravitate towards a roughly Lockean idea that basically the entire idea of law and justice and rights is to say, let's come up with a set of rules that allocates ownership of scarce resources so that people can use them peacefully in a way that generates prosperity so they don't have to have conflict. So anything other than that makes no sense and is not the purpose of property rights. You don't say, we need to think about what's going to generate enough novels. I mean, when you're designing a society, you don't say, we all know that we need 17,000 novels written per year per state. And if we don't have that number, we need to come up with a system to tweak it to make there be enough novels. Now, if you believe that novels and innovation and invention and scientific research is important, which I do, and if you thought that in a free society there would be zero artistic creativity, zero paintings, zero novels, then I suppose you would say there's something wrong with this system. And that is the claim of some hyperbolic proponents of IP. They'll say, without IP, you would have no innovation. You would have no creativity. But that is clearly absurd. I mean, some of the greatest artistic works and scientific achievements of humanity were done in a pre-copyright, pre-patent age of the wars of Shakespeare. Go ahead. I'd just like to bring up the example of the airplane with the Wright brothers. Yes. Do you want to expand on that? Oh, yeah. Well, so that example, look, it's hard to argue that we would not have an airplane today in 2012 if not for the patent system in the early 1900s. And in fact, of course, there were multiple simultaneous innovations going on in this whole field. The Wright brothers used the patent system to slow down the entire development.  So that's what the Wright brothers did. They exploited the patent system. They went to the patent office first, and they got these monopoly government, monopoly enforced rights that allowed them to stop people from competing with them.   And that's what happened. And when World War I struck, the US was actually unprepared. Now, my understanding is in Europe, because the patent didn't reach that far, there was more development at the time. But basically the entire field of patents and the Wright brothers' patents slowed down and heavily distorted the entire field of aviation innovation for about a generation. And this example is multiplied over and over and over. And I mean, my previous point is that no one can with a straight face argue that we would have no innovation or creativity, absent patent and copyright law. Everyone knows that there would be some. So the only argument they have is that there's not enough. But this is not the libertarian type of argument. I mean, the libertarian doesn't look at society and say the price of milk is $1.20. It should be $1.07. We don't say that. And we don't say that there's 17,000 novels written last year in Texas. There needed to be 17,800. And the only way you could criticize the existing free market order that doesn't have patent and copyright for not producing enough innovation is that if you know what the right amount should be. Further, and if you believe that the government can intervene and actually make it better. And it doesn't. My view is that the founders were well-intentioned. The U.S. founders, they thought that maybe the government ought to have this policy tool and its arsenal of tools. And maybe it can stimulate some innovation with some reasonable utilitarian stimulations to inventors by giving them a little limited monopoly. But they had no empirical evidence to back this up. And the interesting thing is that in the 200-plus years since, there has never been a single conclusive study even from an empirical or utilitarian perspective that shows that it does. In fact, all of the studies that have been done keep concluding over and over and over again. Either we can't figure this out and no one really knows. Or it seems to us that probably patents and copyrights are heavily distorting the market and reducing the overall amount of innovation. At the very least, they've got to be distorting the market. That's at the very least a given because this is so great a sort of regulation. It's so huge. The impact is almost immeasurable. At least it sounds like it is anyway. I think it's immeasurable for Austrian reasons alone because a value is subjective and not interpersonally comparable. But even if you go with the Chicago kind of approach and you try to measure everything in terms of dollars or some kind of a crude approach like that, all the studies show that there's tens of billions, if not hundreds of billions of dollars of cost imposed upon the economy every year by, say, patent law. And in terms of copyright law, the entire field of artistic creation is distorted and civil liberties are threatened. In other words, the U.S. and the Canadian and other governments are using copyright rights, which are fake rights, as an excuse to police the freedom of expression on the internet. So basically, copyrights are giving the government an excuse to increase the police state and to reduce internet freedom. Even if the internet is one of the greatest bulwarks of freedom of all time, which I do, you do not want to give the government any excuse to regulate it. And of course they will use pornography, porn, terrorism, online gambling and counterfeiting and piracy and intellectual property violations as an excuse to come and regulate this tool, which is the biggest threat to their existence and their hegemony over mankind. 100% agreement. We were talking about the distortion of the market and I want to kind of get into Samsung and Apple's patent disputes going on because it seems like there is a whole bunch of money and a whole bunch of time and effort that is being battled out for in the court system. Yes, yes. And yeah, I guess let's just talk about... Give us your perspective on that mess. So you asked earlier how someone like me was square being a patent lawyer with my views and in a way it's hard or in a way it's distasteful or in another way it's just recognizing the fact that sometimes the institutional framework gives rise to certain needs. So for example, in a free society there would be no tax attorneys, right? Because there would be no tax law. There would be no defense attorneys defending people against being thrown in a cage for selling marijuana. But given that these laws exist there is a need for people emerged that serve these needs.  It would be like the Soviet Union just giving up all their nukes unilaterally during the Cold War. Now maybe they should do that morally. I don't know, I'm not an ethical expert. But if they had done it then the United States would have had complete domination over them. But as it was they had a stalemate. They had mad, mutually assured destruction. And this is what we have now. We have these companies, medium and large-sized companies they have to acquire patents if only to defend themselves. In other words, if Samsung, let's say if Apple is going to sue Samsung for violating some of its patents on its devices for competing with it basically for copying what it's done. Which is what the market process is about, right? In other words the entire patent process simply says we don't want to have unbridled competition. We don't want to have people competing too hard with each other. It's really unfair for me to notice that you have come up with a way to satisfy consumers and for me to try to chip away at your profit. You have some kind of property right in your customers and in the profit. You have a property right in this. It's basically the old idea of mercantilism and protectionism. So if Samsung could just be sued by Apple they would just lose. So Samsung acquires thousands of patents on its own and if they are sued by Apple they can hunt through their stack of patents try to find one that Apple might violate and they can counter sue. And so what happens is you have large companies acquire I mean they spend tens or hundreds of millions of dollars on patent attorney salaries and filing fees and engineer wasted activity to acquire these big arsenals of patents and the primary purpose is to threaten small companies who have no defense.  So what happens is Samsung and Apple and Motorola and Google and these few small players they're going to end up having a settlement with each other. I don't know which one's going to who's going to pay each other a license at the end. It really doesn't matter because they'll just pass the cost on to the consumer. They'll rest upon their patentized oligopolistic monopoly. So you have two or three or four or five big players and no one else can compete with them because no one else has an arsenal of patents that they can use as a bargaining chip so they will just be sued out of existence. So if you have some small company of ten engineers who have a great idea, they're screwed. They cannot compete. It's like an unintended cartelization of the market because we can look at instances where cartels have been flatly and plainly endorsed by a government. But this is like a very unintended sort of cartel, isn't it? Well, I don't know. Unintended by whom?  They really don't care. You know, it's like the United States. If the United States loses a war like Vietnam or if the United States loses a war like Iraq, it doesn't hurt the United States government. It just gives them more power. They can use this as an excuse of why they're more needed than ever and why they need to raise taxes.  And likewise, these companies like Apple and Samsung, they're sitting pretty because they have a greatly reduced competition. They only have to fight against each other and they can make some kind of behind-the-scenes deal and pay each other a $5 phone license or whatever, and they go on about their business. Meanwhile, it creates this walled garden where they have a cartel, you're right, or an oligopoly. So this is why I think we have actually less innovation and we have less competition and higher prices than we otherwise would have absent the patent system. So what does, if we look at things like trademarks, this is another area of intellectual property, right? Do you think that trademarks are as much of a threat as patents are to innovation? How would you categorize this? No, the biggest threats are patent and copyright. And I would actually say copyright is a bigger threat because the term is so long and because it is giving the state an excuse to come in and regulate the internet. Patents are just about a $200 billion a year drag on the United States economy. So it's like a tax, I would say. It's a huge tax on innovation and distorts, but it's just a tax. It's an unfortunate frictional cost. Copyright is more of a civil liberties type thing and I think that's actually worse. Trademark and trade secret and both hold designs and database rights and moral rights and semiconductor, mass work protection, all these other weird IP rights that they keep coming up with, they're a much more smaller fry. In my early days, I would have said trademark is roughly libertarian because its basic purpose is to prevent fraud. But the more I look at it, the more I understand it. I think if that's really true, then we just need fraud law. We could just get rid of trademark. Trademark has become horrible. It's used to censor. It's used to stop competition. So I would abolish trademark law as well, although it's not nearly as bad as copyright. But trademark, the idea is that if you deceive a customer about the nature of the product you're selling them, then there's something wrong with that and we would all agree with that, I believe. The problem is that there's three fundamental problems with trademark law. Number one, it's statutory. It's legislative. And any genuine right doesn't need to be legislated. It could be developed in a decentralized kind of common law court process. You don't need legislation. Number two, the cause of action is on behalf of the company that quote owns unquote the trademark. In other words, if Louis Vuitton, the high-end fashion purse seller, sees some bootlegger who's making fake Louis Vuitton purses and selling them for $17 at the dock in Turkey, they can actually sue and get the government agents to go and seize all these fake purses and burn them on the altar of the state. Even though, number one, if there's allegedly fraud, it's being done upon customers, not Louis Vuitton.  So there is no fraud whatsoever. So if you could remove from trademark law, number one, the fact that the trademark holder is the plaintiff, it should be the customer. Number two, it should only be when there's actual fraud, not when the customer himself is intentionally buying a fake purse or a fake watch. Then you basically are left with nothing but fraud law, which leads me back to my original observation that we only need fraud law for this. And even trade secret law, I have a problem with. Trade secret law says that you have the right to keep things secret. Well, you don't really need IPA law to say that. But what trade secret law does is it gives you the right to go to court and ask a government court to issue an injunction against third parties, not even your employees or your former employees, that tells them you may not use the information that you just obtained from this former employee of the plaintiff. And to my mind, that itself is illegitimate because there is no contract between the trade secret holder and the competitor. So even trade secret law is problematic, although it's much less un-libertarian than patent and copyright. We're speaking with Stefan Kinsella here, talking about IP. Now, Stefan, let's kind of get to the bare bones of what a free market, what a free society, how a free society would really deal with, you know, patent copyright. I know you kind of are putting it in there. Like to break in real quick and mention, you know what, I would bet, and I would theorize that the largest, because we mentioned Louis Vuitton, Gucci, Gucchi, whatever. I would bet that they probably use those guys who are selling it at the docks in Turkey. I would bet they use those guys for market research, because if they're selling a bunch of Gucci stuff, that probably means people really want Gucci stuff, right? Well, not only that, think about it this way. People always say that the problem with works that are heavily dependent upon the pattern of the work. In other words, you know, if you're making ships or airplanes, I can't just go copy those that easily, but if you're selling DVDs or music files, I can easily copy it or place clothes fashion, clothing fashion. So the idea is that if it's too easy for people to compete with you, then they can compete with you really quickly and you have no incentive to go into the business at the first place, because you think you're facing too much competition. But the problem with that idea is that the entire way that this works is that there are billions and billions of innovations and products introduced every day. And let's say you're an unscrupulous pirater. Who do you know who to copy to emulate? You have to sit back and wait and see which of the billions of new products and ideas is going to be popular, because you don't want to copy someone who's going to have no traction. So you see a new clothing design is popular. It takes a while to notice that it's popular because it's not popular until it's popular for a while. So let's say three, four, five months down the road, you see that this new design by Oscar de la Rente is popular or the new purse by Louis Vuitton or whatever. Well, at that point in time, you might start making a knockoff. But by that point in time, the reason that you were knocking it off is because it's already popular. If it's already popular, that means that the original manufacturer has already sold a good deal of the product. Yeah, and most likely that the price is really heavily inflated because they have that monopoly on it and you're undercutting them with this so-called fake-looking bag. Well, not only that, it actually helps them because the high-fashion designers, they love the fact that there's high churn in the industry because their designs get outmoded every season. First, they're introduced on the runway, then they go to the high-dollar shops, and then Walmart and JC Penney stores having knockoffs. So all these high-dollar purchasers, they want the latest and greatest thing. So they're going to want the next design from Oscar de la Rente, right? And so this gives actually more value to the next iteration of the design from the people that come up with the designs. It's a completely symbiotic relationship. There's nothing wrong with it whatsoever. This is competition, and yet we have people right now arguing that we should modify copyright law to include database rights. Okay, but what about... Well, actually, this brings to mind something else. Let's bring up, because we're talking aesthetic design. What about utilitarian design? So let's say somebody has come up with the jet engine for the very first time and somebody else decides to copy it. What about that? Is the original jet engine designer not then placed at a disadvantage if we look at this from a free market perspective? Well, in a way, yes. Of course, the free market puts everyone at a disadvantage that's trying to compete in the market. I mean, there are winners and losers. There are winners and losers, so that's the nature of the game. So you're talking about the field of patents. We talked about the Wright brothers earlier. In the field of patents, look, in the field of novels and things, I would admit that it's very unlikely that anyone else would have written Atlas Shrug like Ayn Rand did, for example, or any other novel. Not that that's that morally relevant, but still, that's a distinction. In terms of patents, it covers innovations which are technological achievements, and basically, no technological achievement can come about until its time has come. In other words, until the field of the background theory and science has arrived at a certain point where these guys could have come up with the idea. And almost always, this means that you're not the only guy that's going to come up with it. In other words, encryption or nuclear technology or lasers or CDs or holographs, whatever. At a certain point in time, the background technologies progress to a point where people's natural interest in selling new products, coming up with new ideas. This new idea becomes possible. So almost in every case, the guy that is the first one to reach the patent office isn't the only guy who's come up with the idea, and the idea would have come about anyway. So there's no reason to believe that without patents, certain innovations would not have occurred. So I guess what I'm getting here is just we get rid of the patent system, the theory of innovation takes place. Yeah, in my view, if we got rid of the patent system, several things would happen. Number one, patent lawyers like me would be out of work. I mean, we would be hired for 20 years to clean up the transition. But yeah, I think we would see two, $300 billion a year in the US alone, let's say freed up. You would see less distortion and you would see more innovation and more competition, lower prices, more rapid innovation because you would have to always be innovating to keep your consumer satisfied. So everything would be better, except for the portfolios of companies that are very large and dependent upon IP protection like Apple and Microsoft and maybe Samsung to some degree. So all the big players, they go to the government and say, give us this special rights. So how do we, how do we get, is there a practical way we can do this? How do we get out of this giant trench that we've duck ourselves into? So I would say 15 years ago, patent rights were bad and copyrights were bad, but they were like on the top 30 horrible things the government does to us. But in my view today, because of the pace of technology and the internet, I would say IP rights are the number six horrible thing the government does to us. The others would be war, the drug war, taxes, the Federal Reserve and central banking and things like that. But basically it's one of the top five or six or seven things the government does to us. So it has become an extremely crucial and important thing. Of course the problem is that the companies that have an interest in maintaining their IP hegemony, their IP monopoly position are the ones that have the concentrated money to bribe Congress and the legislators and the Parliaments and the harm is diffuse and spread across the country as a whole. So the opposition is weak. And not only that, the government has succeeded in this propaganda campaign. Look, originally these rights were not called property rights. They were called what they are. The original basis for the patent system is in England in 1723, I want to say, called the Statute of Monopolies. They admitted that it was monopoly. Copyright was the Statute of Anne and its purpose was to censor Protestant speech. The origins of the things were clear but in the 1800s where there was a debate most of the economists realized that this is completely contrary to the free market. This is anti-competitive. The entire purpose is to reduce competition and so they were debating this issue and so the proponents of it started saying, well, it's just a natural property right. So they started calling it property as propaganda. So I believe that one thing we can do is to try to keep telling people this is not a natural property right. This is the government giving special privileges in response to the special interest groups and we just have to keep saying this is not a property right. So Stephen, see I had a conversation last night and I had a couple of friends just chilling and we were talking about Apple and Samsung and my one buddy was like, it's a total copy. What do I say to that? I tried to explain like a coffee table maker makes the design of a coffee table so then they sue each other because this basic design of this copy, this table. Burger King in and out, it's time to go at it. So I would say that they're buying into the propaganda which has got everyone to believe that it's okay to compete as long as you don't compete too much or it's okay to do something as long as... In other words, what if you said you can do whatever you want to do in your life? You can use your body, you can use your property as long as everything you do is a new way of doing something as long as you never learn anything from anyone else you never copy anyone else. I mean where does that even come from? I mean the implicit idea is that there's something wrong with competing with people. There's something wrong with emulating but if you believe that then you believe there's something wrong with the entire field of human knowledge and the idea that we have a culture and a body of economic and scientific and cultural knowledge that is passed down from one generation to the next and that grows with every generation. Actually this is the glory of human civilization is that every generation we advance. I'm not a proponent of the weak theory of history but there's something to it. The idea that every generation we have a greater body of knowledge to draw upon. We all are beneficiaries of that. No one who innovates in art or in science or whatever is on their own. They're all standing on the shoulders of giants and that's a good thing. It's not a bad thing. So the idea that there's something wrong with doing something that's copying someone else is just wrong. There is nothing wrong with copying. I think what we may need to do is tell people you have to stop equating the idea of copying with stealing. So what they do is they'll say that you stole my secret. I'm like well I stole your girlfriend too. Did you own your girlfriend? I stole your customers by competing. Did you own your customers? That is the assertion though isn't it? It is because I lost a sale because of you. So that's the ultimate claim. This goes back to the purpose of property rights is to protect ownership and control of scarce resources. Even potential. It's the potential. You're saying that if you copy this and you're competing with me, I'm losing out on a potential revenue that I would normally have. Yes and I actually like that answer because that's an honest answer and they're actually answering the question. So when you say well what exactly did I steal from you when I copied you? They'll say well you kept me from making as much money as I could have. And I'm like well wait a minute where is that money going to come from? It was going to come from your customers but you don't own those customers. You don't own their decisions and if they choose your customers. I mean you could make the same argument about competition in general. This is exactly why the protectionism in say England and Europe and you know 400 years ago the king or the crown was granting his favors. You get to be the only guy who can make playing cards. Right and the king's agents would actually go into the stores of competitors and say when you're playing cards they don't have the seal of approval of the monarch we're going to throw you in jail. So we have the police state being used to enforce monopoly privileges which is exactly what we have now because there's really no difference. The only difference is it's more institutionalized. It's democratized. So in a way it's more dangerous because back in 400 years ago I'm pretty sure that the average person if they could be aware of what was going on would have seen a distinction between the state and its cronies and the people that are being put in jail. But nowadays it's all a democratized process. It's a regular process. You go to the government agencies and you get this kind of right. Those damn public schools man. Well Stefan I'll tell you what believe me I'd love to keep going but we need to preserve time but I really appreciate you taking the time today. You've given me a lot to think about. A lot of really fantastic stuff. I'm definitely going to have to listen back to this again. So Stefan thank you very much for your time. I really appreciate you coming on the show today. Thank you guys I really enjoyed it. Stefan Kinsella an attorney in Houston and with LibertarianPapers.org an IP lawyer. Another great interview to wrap up another awesome feature show. I love this stuff. I love this show. I love Liberty. I hope I love our listeners. I love our listeners especially our listeners. Very cool. We managed to bring them. You know this was a really good interview. I learned a few things. I actually didn't expect a few of these answers because you know sometimes you wait into an interview and you're thinking yeah I know what's going to go on right? Yeah well that's a thing. You can read about this stuff but when you have someone who knows what's going on really knows what's going on the ins and outs of all the technical crap and you can ask them questions live you know that's you just learn so much. Oh yeah awesome. I'm really happy about this. Of course this closes out our show for today our feature show but stick around depending on what platform you're on and how it's delivered stick around for our B-List or find it in our it's always in our YouTube channel youtube.com slash Ed and Ethan. But yeah so the B-List is for stuff that we couldn't fit into the main show some of the other stuff that we'd like to get to. Of course check out ed and Ethan.com for our latest updates and also feedback at ed and Ethan.com is where you can send your suggestions your praise your condemnation whatever you'd like to send and also I will not hesitate to pick something to read on the air. Once we get one thing be the first. Who's going to be the first? Are you going to be the first? Feel free to send some correspondence something you'd like read on the air be a part of the conversation I'd be happy to include you. Of course also thanks again to LRN.FM the folks at Liberty Radio Network Ian Freeman and the gang it's always it is a pleasure to be on their podcasting roles and also World Liberty News at WorldLibertyNews.com I think I covered everything good night. I think so. Ho ho that might be a phrase where I actually managed to get everything awesome. Good job Ethan. Alright so for November 18th 2012 this is Ed and Ethan.


Okay, is that good, Kathy? What does that mean? We are ready to begin. Percussion, are you ready? Drummers.  Please put your hands together and welcome our host and presenter from the Stocksquish.com. Come on, let me know if you can hear me. Let me know if you see the slide. Okay, great. Thanks so much for coming, everyone. I'm going to talk today about a 30-minute strategy for busy people to make fast cash day trading. So, my name is Melissa Armell. I own a company called the Stocksquish. And if you've never heard about me, I day trade the U.S. market. And so I'm going to talk about the strategy I trade. And I really only trade in the first 30 minutes of the trading day. So when the moves happen and the stocks that I choose to trade, the momentum comes in fast and quick and swiftly. And we're going to talk about a bunch of trades today and go over a lot of examples. But if you're thinking about day trading but you don't have the time to sit at your desk all day from 9.30 to 4. Which is the hours that the market is open, it's really not necessary. That's not what I do. And actually, when I first started day trading, I did trade all day. And it was exhausting and I found that I very often gave money back in the afternoon. So I kind of figured that out really in the first year of trading and then I realized that the best thing to do was to just trade this 30 minute period and stop. So you can be, you know, at your office if you're not a professional trader and trade in this period if you're able to get on your platform or you could do it in the morning before you go to work. And depending on where, what time zone you are in, you can make this work for you. And even if it's something that you're not doing daily, although you could, and I run a live trading room and it's open five days a week. So let's get right into it here. For those of you that want to contact me afterwards, excuse me, you can call me at 929-3200-0427 and I, you know, I trade gaps and that's what we're going to talk about today. And if you want to watch more of my videos or webinars, you can go to my YouTube site. I have a lot of market calls and plays of the day on YouTube. And you can feel free to reach out and email me as well. Or if you want to trial the live trading room, you can email me at Melissa at thestockswish.com too. So before we get started, I gave a lecture in the room this morning. I gave a lecture in the trading room this morning on Conviction. I actually taped it and it's on my YouTube and I was thinking about this after the lecture in the room and I'll probably talk about the room to this tomorrow. And you can answer me here if you want to. I mean, everyone's, you know, totally anonymous in here. Would you rather have $1 million cash or would you rather know how to earn $1 million? What would your answer be? If someone came up and said to you, I'm going to give you $1 million or I'm going to teach you how to earn $1 million, what would you say? Which option would you take? A or B? Does anyone want to comment? Say what they would pick? No one would take a million dollars or learn how to earn it? No one has anything to say? Ralph Kay answered. Okay, we got one person from the Peanut Gallery tonight. Ralph saying B. Okay, anyone else? I can't believe no one else has any opinions. Well, it was a trick question because the bottom line is that, first of all, there's no wrong answer. If someone gave you a million dollars or taught you how to earn a million dollars, obviously either choice would be good. There's no bad pick here, actually. But the point I'm trying to make is that if you would for some reason, okay, take a trade in the market and earn a lot of money in it, okay, that have no idea how you did it, how would you ever be able to duplicate it if you didn't know how you did it to be able to duplicate the same result? So even people that are very wealthy, they will have to make the money that they have last forever if they don't have what's something called earning power. Earning power meaning a job that can support them to continue the longevity of earning the money and the lifestyle they can afford or something like having a skill set like you would learn how to trade. If you wanted to learn how to trade the market and make money trading, you would learn the skill set to do that that you could replicate it over the course of your lifetime, okay? And I just used a million dollars because it's a big sum to make the broad point that even if someone offered you a lot of money, would you rather that or learning something that you could make more than that and make it last? Because even people that go, and you hear these stories, I mean you see it on the news, when people, you know, they win the lottery, they've got to make the money that they've won last if they're going to quit their job or not work. And very often, you know, a lot of taxes get taken out of it and people think, oh, this money's going to last. Even a million dollars doesn't last you that long and for that number of years if you want to retire depending on your age point. So it's really the power in finance is having the information that you can use and the knowledge and the skill set to make money for yourself, okay? That is more powerful than anything else. And so if you'd like to make money from home, you can do this. You can learn how to trade. So, you know, it's an old saying if you are in this realm of you're doing the same thing over and over and over again and you're not getting where you want to, then you have to change. Otherwise it's called insanity. You keep repeating the same mistakes and you can't do that. You've got to change. If you want to survive in this world in this economy and the growing changing times that the planet is in, I mean politically, economically, financially you have to change what you're doing so that you can, you know, not only survive but also thrive. And you have to stop doing things if you're doing things in the market trading that don't work or if you are working somewhere and not making the money that you want to be, how can you make more? You can get a raise at your job. You can get a part-time job like on the weekends or you can do something like learning a skill set in reference to trading, okay? But the most important thing is to change something that you're doing so that you can achieve the results that you want. So there's a couple steps here to do that which we're going to talk about today. Step one, know your goals and not only that, your current time limitations. For example, maybe you have to be at work by a certain time. Maybe you have to, you know, have responsibilities. Maybe you've got kids, whatever. Know your goals. Your goal is maybe you want to make an extra two grand a month or three grand a month or something. You seem to not be able to save that much each month.  You're not able to save, you know, have your goals and also know your current time limitations, how much time you can afford to sit at a computer or a desk each week to trade. Many people cannot afford to be able to sit at their desk from 9.30 to 4 o'clock every day and that's why many people don't date trade. But the point I'm trying to make is you don't have to. My strategy doesn't involve doing that and you can also use my strategy for options, which case you don't even have to be at your desk between 9.30 and 10, which is when I trade and we'll talk about that. But step one is know your goals and current time limitations.  Again, going back to the same thing, do you have a business? Do you have a full-time job? Do you have a spouse? What do you have going on in your life? Okay, maybe you have to take care of an elderly parent or something, or grandparent. If you're busy, you have to weigh this in the options too. And also, where are you in the morning if you want to do this strategy? Or it's the morning for me. It's between 9.30 and 10 a.m. Eastern time. It might be night time for you, depending where you are in the world. Are you at home at that point or are you in the office? Okay. So, next step. Step two, find a good system to achieve the goals. Okay. Find a good system. And that's what I'm going to talk about today, to achieve the monetary goals and the time that you have to devote to doing this. Okay. Step three is be practical in why you take a trade, which we're going to talk about. We're going to talk about something called institutional money in a gap. And we're going to talk about that in a little bit here. Step four is trade the highest paid period of momentum time of the day, which as I've been saying is between 9.30 and 10. It's the first 30 minutes of every trading day. That's the highest time of the largest momentum comes into stocks, so that you can make the most money that you possibly can in the shortest amount of time. Okay. That's the goal.  And step five, book the money fast. Simple.  You do not have to hold every trade to some dream target. Okay. It's not, it's not imperative. It doesn't even matter. That's not your goal. Your goal is to make whatever money that you set as your goal. Okay. According to your time constraints that you have to do it within that time period. So, let's go through step by step. And if anyone has any questions, you can just write any questions or comments in the room there. I'll see them as we go along. So anyways, going back to step one, know your goals. You know, do you really want to transition into extra money? Do you like the market and you're interested in the market? And you just want to have a foot in the market doing a couple trades a week, doing just option trades. You know, I don't know. A lot of people are very interested in trading. They love the market. They love investing. They have extra money, whether it's a little or a lot. And they like to be involved and they're excited about the stock market and they have their own investments, but they do have time limitations with their career. So it is very important to know your goals and you know, how do you fit them into your own personal lifestyle? Step two, find a good system to achieve these goals. Now what do I do? For those of you that have never heard me before, as I've been saying, I trade gaps.  And the reason I do is because it's like finding gold in the market when you find one that works because I have a high percentage win ratio system. It means you have to figure two will be losers and eight will be winners. Okay.  This is very, very brief. I'll show you in a chart in a minute, but a gap is just when a stock opens at a certain price in the morning at 9.30 and closes at a different price than the next day. So anything that closed tonight at 4 o'clock that opens tomorrow morning at 9.30 that's it. So for example, Amazon had a huge move today. We're going to look at that chart. It was an option trade I called last week. I don't know the exact close price today was probably 8.62 something and change. If Amazon opens tomorrow morning at 8.65, let's say it will be gapping up. Okay. So a gap is a break in price action from one day to the next. The difference could be up or down. Okay. It could things could trade higher in the morning from where they closed at 4 or they could trade lower. Now here was one that was lower. This is a daily chart of IBM. So IBM this was last week on I think this was Wednesday or Thursday. It was Wednesday. So the stock closed here now go over here to the right. It closed here around 170 something at night at 4 o'clock. Now IBM had earnings. So then in the morning at 9.30 the stock opened here at a very different price. This ended up gapping down and it ended up gapping down $8 plus. Okay. So you see here it opened around 161-ish. So this is a gap. Okay. So step two is trade a good system. My system involves trading only stocks that gap. Now it could be anything. I do a different symbol every day. All right. They could be gapped downs. It could be gap ups but I will tell you that I prefer gapped downs. I prefer to short but you can use my system for both directions. So gaps happen in the market on a regular basis which is another important thing that you have to have if you choose to learn a system. It's got to be something that sets up every week.  Okay. Now a lot of things gap but not everything is something that you can actually predict the directional bias in the gap. Not all of them are what I call good gaps or golden gaps. Understanding which gaps are meaningful and which gaps are not meaningful in the market will help you to know what to do and what to change is occurring. Choose the gaps to play that are moved by power money which we're going to talk about next in a minute and they will easily and quickly pay you. Power money is big, big money created by institutions like hedge funds or banks. Okay. That's what I'm talking about when I'm talking about power money. Now here's another daily chart of what a gap was a different stock. Was T-S-C-O. This one closed here. Boom. $70 plus and then it gap down here to 67 something. So at four o'clock it closed here and then it gap down here in the morning at 9.30 when it fell. This was a short. So this is again a gap and then I'm looking to predict the direction it's going to go based on whether or not I think institutions are going to sell it or buy it. They could have bought it. They could have bought it up. Like Google today got bought by institutional money. T-S-C-O sold off. So you would have shorted this on the day to make money. Okay. So what do I do in my system? I find the gaps in the post and pre-market. So I can look for them tonight. Right now stuff is gaping here live tonight. Or you can get up in the morning before 9.30 and look at them in the pre-market and that's where I find them. And then my system uses a checklist where I will rate them that tells me which one to do. Now sometimes there's many many ones you could do. You could do five a day if you want to. But I like to focus on one. That's a personal preference. All right. That's not the system itself but I found that the more focused I am doing only one thing the more money that I tend to make because you only need one trade a day. Again going back to step one what are your goals? My goal is to do one trade a day. So not only do I have the monetary goals I have the number of trade goals that I want to do. I might do two like once a month. It's not that often. Any questions so far here from anyone? Now let's go to step three. Be practical. Be practical while you take a trade. Now what am I talking about? What do I mean? I'm looking for huge amounts of money. Volume. Okay. I'm looking for a huge amount of money. Volume. Volume. Volume. Volume. Volume. Volume. Volume. I'm looking for heavily traded stocks. Like IBM, Microsoft, Google, stocks that move have a lot of volume on the day. I'm looking for stocks that are heavily traded that are going to pay me as a person, as one person in the market by just taking a normal to average position as a day trader. Not something where I have to take some massive, massive risk. I want to get a big move. So in order to do that I've got to have momentum. What creates momentum in stocks? Big positions. Institutions. Because they're the ones that take the big positions. Okay. So if you learn how to read the footprints of big position players before the momentum occurs you can take the position in the right direction and get out. After the move happens for profit but you have to understand how to trade this with sighted power and you need to know how to find it. Knowing how to read what institutional money looks like is very, very important if you want to be successful because you can win big on the side of the power. Now I did a webinar last Thursday actually. It wasn't here. It was with a different group and in that webinar I talked about a Google option trade that I had called the previous day on this day here. So I did a webinar on the April 20th and I talked about the Google option that I called here on the 19th. Now where's the power money in the webinar which I have on YouTube actually you can listen to it. I called this as along I said Google is being bought by institutional money. I said this is really higher. It's being bought by institutions. Look what the stock did today. So people that were there Thursday night actually could have done it on Friday and they could have taken the trade from being at the webinar that night or they could have done it this morning. So I did the webinar here on Thursday night. I called the trade here on this day here it was a little red guy a little red bar and I said this stock is higher and I called the 850 calls for Google and the stock blew it actually got up to 850 today and blew up and I said the target today is 860 1 over 860 1 to 863 I said the stock could even get to 870 875 this week 25 points through the strike this was a huge call that I made based on what? My system my system that read the institutional money in the stock to go along it and this is the kind of thing that you will learn from me because this is institutional buying so you would belong this in an option I wouldn't day trade Google it's too expensive you could if you wanted to but anyways this is a show of power money and it's something that I even talked about in a webinar and then it happened a few days after so how am I able to do this all the time because I'm reading the chart and I'm reading the gaps in the chart and I'm actually reading the bullish gaps and the bearish gaps so this was a bullish gap here that failed in Google and fell then it gapped down it didn't have any follow through then it gapped down again it failed then it rallied then it came in then it gapped up then it rallied in fact one of my traders said he didn't do the trade because he thought that it was too late I said you've got to be kidding me he didn't do the trade he missed the trade because he thought it was too late because it had this big bar here it was not too late this is the move okay you could have done it in the morning anyways the point is this is how you're making money as one person you make money winning trade stuff like this this was a really profitable trade okay this one was too it was a day trade in IBM institutional money the stock dropped gapped down gapped down eight dollars overnight fell hard had a massive move I forget what the total move was in the day from the high to the low but it was more than three bucks so that is institutional selling this is bearish it's to the downside okay so this is to the upside institutions are buying the stock this is to the downside institutions are selling it okay any questions write it in the room here step four is what you trade the highest pay period in momentum when is that it's in the first thirty minutes of the day in the first thirty minutes of the day stocks make usually eighty percent of the moves when they're gapping so if you look at the stock and you look at the if you're looking at shorts for example or you could flip side look at lungs a stock usually will make about eighty percent of the total move of the day in it within the first half hour of the day in fact when we're done here what I'll do is I'll pull up Google I bet Google even did it in fact I know that it did I know that it did I have the chart in my head from this morning I don't have the one minute up in the class here but I will go back and look at it but I'm certain that it did in the first half hour of the day I think the stock was at eight fifty eight or eight fifty nine and then it rallied four dollars after that but it made eighty percent of the move in the morning this I'm not making this up it's like over and over and over and over and over and over again and I've been trading for eight years this time of the day is it people it's all you need to trade and if you want to trade longer than that for bigger moves and that's up to you if you want to take a second trade or a third trade on the day in the same stock but I'm telling you if your job is done and you play it in the morning and you're up and you're out then be done okay but this is where you it's at okay where the momentum is now this was last week two no this was two weeks ago this was pier pier gap down again I prefer to short so stock closed here gap down closed up here around 720-ish gap down here to 695-ish or wherever it open fell off a planet again time of the day this is a one-minute chart between 9, 30 and 10 look at the move of the stock made 60 cent move which was a big move for the stock 10% of the move the stock had happened in the morning and this actually I think this was the low of the day actually in this guy here it was this was the low of the day that set the low of the day in the first 15 minutes to 30 minutes of momentum this is what you're looking to play but if you don't know to watch pier you're finding on a scanner and you miss it and you're like crap I missed it and it's not like you can't short a tiny little teeny weeny little move in here or here but this is all the momentum this is how you're making money people okay and this is how you can do it and only do one trade when you get these little scalpy scalpy scalps and you do them late and you're only scalping for one or two bars then you're then you're not then you're having to take four trades to make a thousand bucks rather than just one to make a thousand bucks or whatever your goal is okay and the more trades you take you're always at risk now there was another one this was last week this was the Tuesday Kate again perfect example time of the day time of the day first 30 minutes this was the low of the day in this stock open drop like a brick open short it boom you're out this is 930 this is 931 time of the day in here is 935 five minutes you're in the stock not even you're out entry price in this was 1839 if you shorted it now I'm showing you this is where you would have shorted the stock if you'd wanted to make money in this trade and I called it in the trading room I called the trades live with the entries and the stops if you took an advanced risk of 5,000 shares again look at this this isn't this is 45 cents 45 cents 40 cents 50 cents and look how much money you could have made 2200 bucks so in a few minutes you could make a couple thousand dollars now that was an advanced risk because it was 5,000 share lots but even if you only took half that you could have made 1100 bucks okay and this is how if you if you want to try to you want to try to progress you want to try to transition okay into learning how to trade into making money trading you have to find a transitionary way to do it many many people are employed full time okay and some people really love their jobs or they have businesses and they love them and they don't want to give them up but they would like to make some extra money too you can do this strategy and you don't have to sit at your desk all day and you still can make real money now that's not to say that every day the trades are going to work but when they don't guess what you're stopped out quickly just as the same manner as you're in the money quickly if they don't work they fail quickly too so you don't waste time and you don't waste your day and like I said you figure out out of every ten trades two were going to fail and eight will work and that's what you should base your your parameters on for your risk okay for how much you're risking in each trade and it also should be based on the size of your account which I can answer questions about later too does anyone have any questions about anything so far let me know quiet group here tonight anyways getting back to what I was saying the thirty minutes if you're trading during a period where any percent of the move in the day is happening you have a very high odds of getting pain as long as you're looking at the right stock you've got to get the right pick daily and then you've got to get the correct direction in the pick like if you shorted Google today you lost you had to go long it either as the option to buy a call or buy it as a day trade okay so you got to get the direction right too but that's where the twenty six point system is just what what my system is is four that tells me if the stock is long or short because it's telling me to pinpoint what side the institutional monies are going to take that stock are they going to take it down are they going to take it up okay and then all you have to do is take the trade once you figure it out when it sets up in that first thirty minutes you've got to be with the flow of it you can't be against it if you want to have consistent gains in the market this is how people make money as day traders I'm telling you there's all kinds of different things out there and I'm not poo-pooing them there's people that trade these stocks are called penny stocks or low float stocks or whatever I just think that that stuff is absolutely dangerous okay and any time you trade obviously your money is at risk because a trade could not work but it is dangerous to trade if you don't know how to trade it is dangerous to trade if you're not following a mentor if you don't have a system you're not finding any system at all and I think it is dangerous to trade some of those stocks that are people call low float stocks or penny stocks they have very little volume okay very little momentum can't predict where they go and are not traded with institutional money you know if you are running the trade desk at JP Morgan Chase you're not trading crap like that okay and if you want to make money as one individual with a small account and by small I mean less than a million dollars cash okay as a trader then you got to be in stocks that move and that you can get filled and getting filled means getting filled when you want to get in and getting filled when you want to get out and getting filled when you put the stop in not getting hurt alright so you take precautions you take precautions for yourself to assess your risk if you choose to do this that you're going to be with really the movers and the shakers the ones that move the market you know how do you think the market is moving higher the market is getting bought the market is getting bought with institutional money it held in the gap up today I called the Q's long today we can look at that when we're done here too I think we're going to have time on the Google I called the QQQ's hold the gap up today we're going to explode actually this week that's my call for the market there's the market is going to move higher this week because it didn't explode today and it will so in fact Google is probably going to continue like I said if you want to consistently make a lot of money in the market the only way that will happen is if you're trading in the side of institutional money it's just the only way you can't trade crap you've got to trade good stuff and you have to be with the institutions that are moving stocks and most of you are familiar with these companies companies you know you know Costco Microsoft Yahoo the companies that everybody knows Bed Bath and Beyond okay any questions so far in fact it just made me think of something I'm going to write this down we should I don't know how Amazon closed today because the market is going to explode and if Amazon didn't go today that's going to go too I'll look at that when we're done I might have to call something in that alright getting back to here what I was saying let's look at another move again first 30 minute period T-S-C-O boom here it is again 9.30 to 10 o'clock first half an hour stock gap down you look in the morning in the pre-market you determine that this is a short you wait for the stock to open you take the trade you get in and it drops and you're in and you're out so price of this entry 66.90 you would have shorted it on my call or done it yourself share quantity 2,000 total profit 1,300 good money people now I will tell you that this one went further this actually went and continued so this actually ended up going to 64.50 I think was the low of the day on this so this was not the low of the day but it did have 80% of the move here so this dropped another chunk later in the day if you wanted to take a second trade but again if your goal is in for the day your goal is 1,000 bucks a day your 500 dollars a day whatever your goal is if your goal is in you get out now next one here again boom boom boom boom boom first 30 minutes momentum volume the institutional set off what are you looking for you're looking for it to go and this was a tricky one here this was on Friday the stock up down and people might have thought this was going to fill the gap or move higher it went over the high of the day here in the first 5 minutes had a big green bar and then collapsed so again you gotta you gotta know what you're doing here if you're shorting it are you going long it because if you went long it you got stopped out and you missed the short and anyways it wasn't a long it was a short this was a very very good gap from last week that had a big big move and it was a short so anyways entries in here here's the drop okay this went as well to the dream target if you held a little bit more but here's the first again first 30 minutes low in the day and this was like 2180 so it made a 60 cent move past 10 o'clock do you see here again 80% of the move is made in the first 30 minutes of the day so this is all that you need to do if you're a busy person you don't have time to trade at your desk all day and you're doing other stuff with your life or even if you like to trade at your trading now and you don't want to sit at your desk all day which I don't want to do even though I could I don't want to alright this is all that you need to make money this is the only period you need to be concerned about this is the only period you have to be trading looking, watching, doing it okay now this one here again first target was 23 2380 was a short share quantity 5,000 you could have made 4 grand that's insane people that's insanity that's more money than some people making a month anyways this went to the dream target there's no one in the room that held this till 22 but I think some people did do a second trade in it and everybody was regretting not holding it but the bottom line is that it could have worked for a second trade it did go to the dream target this was a huge move it was a good gap and it doesn't even matter if you didn't hold it down this was the move in the first move it was the first target and it worked and if you took size with this you could have made several thousand dollars this was a great great gap and this is the kind of thing that you would learn from me and just you would learn to watch the stock you would learn how to rate it you would learn how to do it on your own even without me okay very very very important to understand why you're taking a trade it's very important to have a system that makes sense and when I say make sense I mean it's going to move and you're going to be able to predict the move and I predict the move of the daily chart I take the trade of the one minute chart and I'm looking for things that institutions are moving like Google like Matt like IBM okay you know what we're going to get this week I don't know I didn't really look and see everything that's out this week I've kind of been under the weather but I'm feeling a little bit better today but it's earnings season there will be stuff to do you know all week you know there's stuff right now that's gapping tonight now getting to step five book the money fast and get out when you're up so this is a very very important piece of the puzzle too you know you will never lose money when you get out when you're up so you can lose money if you're in a trade and you're up and you hold it too long and it goes against you and you don't get out which is foolishness so again number one with such your goals if your goal is to make just $200 a day and you take the trade and it drops boom and you're in the short and you're up boom you're up $250 and it starts backing up you can take it you can take it who can fault you whether it drops another $0.20 or $0.30 or $0.50 it doesn't matter if you made your goal for the day no it doesn't your goal is done you get up the next day you repeat the same thing you repeat it you repeat it repeat it and you repeat it like a like you get up every day like you're doing your job because your job is to make your goal okay your job is not to hold everything to the dream target you really only need one trade a day to make money to achieve your goals even and it also keeps the losses down that's important too I mean how can you lose or blow up your account or lose any any extraordinary amount of money if you're only doing five trades a week I mean you know I'm one of those rare rare people that I believe less is more many day trading rooms are open all day long to four o'clock in fact I think I'm the only room that I know that isn't I mean many days I close the room at $10.30 so it's it's really less is more you take the size that's how you make the money like I'm showing you a couple thousand shares which is not a big deal these stocks why because they have volume because you get filled when you're up money and your goal for the day is done you take it and you get out it's not about being a piggy in this thing now let's look at the play that was an AB IBM here stop dropped rallied set up dropped some people took it out in here I did hold this one a little bit longer I really believed believed in the gap and I wanted a big big move in it I remember I said the stock moved like more than $3 in the day so if you did this price of the entry was 161.79 if you did an advance share size is 2,000 shares this was almost a $2 move nice move in here so it was worth it for me to hold this but if you got out quick in the morning you still had a good move in here it dropped down to out of it with a buck in the first morning move I tried to squeeze a little bit more out of it and I really felt like this was going to go and break 160 it did end up doing that it did end up even going more than even when I got out but you know again to be able to make a couple thousand dollars and just a few minutes in the morning I mean it's there's just nothing like it it's just that many people feel like they got to take a couple different trades every day they feel like they want to and I don't even think if you if you had the time you would even want to why would you even why would you even want to it's never over to the fat lady things and if you're in a trade and you're up money and you don't get out and then it could happen even if you have a stop and then it could happen it could stop you out it could reverse something could happen in the news okay even if you're in the trade it looks good and you're up if your goal is in and it starts to back up a prudent thing to do the common sense to do is to take it so you know I always say to people think about what you're capable of now right now if you're not capable of being able to trade five days a week then trade two days a week if you really really really want to trade all day at four o'clock but you can't do that right now you can only you know trade in the morning then maybe my system will help you transition if you really want to trade all day maybe you want to do everything maybe you don't even care about that you just want to make extra money you don't know anything about trading never traded in your life before don't even know what a chart looks like and you would have to learn that from me which is fine then that's where you start but you devote then the period of time of the morning between 9 30 a.m. Eastern time and 10 a.m. Eastern time to learning it and to doing it and that's the time of the day that you focus anyone have any it's just very very important to be practical about what you're doing and the choices you're making and to take action taking action and being practical it's not being being cheap or not taking risk it doesn't mean only risking you know 50 bucks in a trade okay and it doesn't mean also not taking risk like even learning a new system like mine which actually is not cheap either my class is five grand so you know that's not you get what you pay for you know out there you could take you could take 10 different courses that cost $2,000 or 1500 bucks and end up spending more and losing money trading those systems and spend five times as much as it would be to learn one good system which is mine and then actually turn it around and make money doing it so you know it's not about being practical isn't about low cost not when you take the trains and what you're risking or in something like deciding on a class or the price point of the class you have to think about what you're doing being practical means in the long run what is it worth it for me and also thinking about your own time constraints the time that you have to devote to something because if you choose to learn a system that you must be sitting at your desk all day and you can't do it well then even if it's something that you think you want to do but you can't do it then when are you going to be able to do it I never advise people to quit their job and trade full time if they if they don't know how to do it if they've never done it if they don't have at least you know two years worth of their expenses in the bank in cash and then also money to trade and a lot of people don't have that so people will have to find a way to make the transition to trade and I try to give people the best advice I can that's different um okay we have a question here Ninja Navigator I think is is your name I don't know if that's a girl or a boy he or a she it's a sneaky one are you actually going long or short two to five thousand shares of stock are you using options it depends let's go back here let's go and we find the Google Google I don't I don't take a day trade I don't day trade this as an equity trade I've never done it in my life I don't have to say that I couldn't or I wouldn't but I haven't it's a very expensive stock and the options have high volatility showing something like this I do options when I do trades and expensive stocks like Amazon and Google I do options you could do the equity trade now the trades other trades here like Kate for example this I'm actually taking the position okay in a margin account in a day trading margin account where I have to have the buying power to do it I'm trading on margin okay and it's in a day trading account and I'm taking however many share quantity I decide to take depending on the cost of the stock and where I put the stop and where the entry is so for the example in Kate 1839 I had the stop over here so this was this was not a big stop it was a medium stop okay my stops could be anywhere from 25 cents if it's an expensive one it might be a dollar like something like IBM so then I determine my risk of the quantity of shares of the stock based on the size the difference between the entry and the stop so here again was the entry here was the stop in this one so that's how I determine the number of quantity of the shares but I am taking them on margin as an actual day trade this was not something that we do for the option option trades make sense in things that that usually are heavily traded in options which really Amazon and Google are or something like Apple okay and something like this if you did an option in one of these things that you're not that familiar with or not as heavily traded in options as Google like something like Kate for example you would have to do it like you would have to do it right at the strike like Google here I said to take it here the strike was here so you're doing it ahead of time now something like this you're seeing it here if I had called an option in this which I did not but if I had I would almost tell you to do it even above like to pay for it to be in the money so that you can get you can get more more going on in it I don't know if that makes any sense so I would play them differently so I don't do that anyways with this I just do the day trade I'm not doing an option in this but if I if you wanted to if you wanted to do that I would take it above it already in the money or at it like I wouldn't I wouldn't tell you to do an option in this it's 17 do you know what I'm saying? does that make sense? Ninja Navigator let me know if that makes sense so they answer a question yes I'm doing the equity trades in these with two to five thousand shares although I have taken you know fifty contracts of stocks like Google and Amazon and Babin stuff like that before I have which is equivalent to five thousand shares but I have the cost of the position the position and the cost of this position is more expensive than these if I take something of that size so I mean I I'm not doing that every day these things here like these trades here like IBM, Matt, Pierre all these stocks I'm trading these every day Monday through Friday I'm not trading options every day if I see a good one I do it if I see a good one I call it I'm not doing those five days a week but you could if you want to because if you don't want to open a margin account that's what you would do because there are requirements to open a margin account whether you open a margin account with a prop firm or a day training firm or a retail firm there's margin requirements if you're trading options you don't have that you don't have the margin requirements I'm tying up a lot of capital how Ninja Navigator how am I tying up a lot of capital this is a good question here actually I might address this here wait I did do one slide here we didn't get to it here this slide might address it here's the buying power slide if you wanted to take 5,000 shares of a $20 stock how much buying power would you need 100,000 what does that mean for cash because you're talking about tying up a lot of capital the answer is no why because you're trading with margin so 5,000 in cash in a prop account is all you need to do this position if you are at a retail trading account you will need 25,000 now I don't know if you consider that a lot of capital but 5,000 shares is a pretty good position but you're in and out of it also in a few minutes so you're still not tying it up if I'm taking the trade and I'm shorting something at 931 and I'm getting out boom at 935 that's it the trade is done there's no more tying anything up and it doesn't matter where you have your account if you made 2 grand in the trade that day you could take it out the next day if you want to boom there's no money tied up it's not frozen or tied up I'm not sure what you mean by that but it's not this is you're in and you're out now if you do an option say you take an option on a Monday and it costs you 2,500 bucks there's no buying power involved no margin account and you get out of it on a Wednesday that 2,500 dollars is tied up Monday, Tuesday and Wednesday until you take it out but that was the cost of the position and if you took it out on Wednesday and you made 1,500 bucks in the option then you'd have Thursday the 2,500 back in your account for the original cost of position and 1,500 a profit but that's doing options so I don't want to confuse people but the margin accounts the day trades are not tying up capital for any more than the several minutes you're in it and even if you take a large position depending on what type of account you trade you're trading on margin it's not the cost of the stock you do not need the full cash value of any stock you are day trading if you have a margin account and that's why traders trade with margin accounts everyone does professional traders traders that have, you know 500 grand in account are trading trade with margin Ninja Navigator saying 2,000 shares here I'm going to put this in the room for everyone he wants to use this example or she 2,000 share quantity this is an example I don't know why that went up there 2,000 shares quantity Ninja Navigator wants to do 2,000 shares of a stock that's what 17 bucks cost of the price per share Ninja Navigator wants to do that so somebody tell me I'm quizzing you people now how much buying power does Ninja Navigator need in his account to take that position does anyone want to answer does anyone know anyone know Ninja Navigator said but I don't want to say let's see if anyone else knows how much is that going to cost him no one knows come on there's a lot of people here no one wants to guess I'm not going to yell at you if you get it wrong I'm trying to help people take 2,000 this is easy this is just simple arithmetic 2,000 times $17 equals what 35,000 but that's not 35,000 in cash Ninja Navigator does everyone understand that you're not tying up 35,000 in cash or capital because you're training on margin if you're training at a retail account you take 35,000 divided by 4 if you're training at a prop account you take 35,000 divided by 10 so you need $3,500 in real cash to trade this in a prop account and I'll get my calculator for this so I can be exact 35,000 divided by 4 you'd need 8,700 8,750 but you actually need 25 grand to open up a margin account in a retail firm but that would only be taking up $8,750 of actual cash to take the position but that's not your risk your risk and I'm going to go back here and these are really good questions you may not have time to bring up the Google your risk is not let me get back to the mat here your risk is not the 35,000 for example you're the 8,750 if you had a retail account let's use that example what is your risk? quickly can anyone tell me what's your risk? hurry, hurry, hurry does anybody know? what's your risk? the stop in this mat was 30 cents your risk is 30 cents times the amount of the quantity so 30 cents times 5,000 is what? $1,500 you will only lose $1,500 if you have the stop in here at the right place which was 2410 for the straight so you enter and short it at 2380 the cost of the position is not 1,500 but you're not going to lose the cost of the position you can't you have the stop in and even if you had slippage you might get out and lose an extra $1,600 it might be $1,600 or $1,700 you would never have terrible slippage that would be anything worth that you don't lose the capital that it costs to take it this is very important and I may be talking over some people's heads that don't get it and Ninja Navigator is asking good questions but tell me if you don't understand it Ninja Navigator it's not the other wrong broker my guess is you don't have a margin account set up with your broker very easy it's the forms that you fill out with a broker and maybe you open the account when you open the account you didn't open up an origin account and you got to have an origin account if you want a day trade it doesn't make sense if you don't why would you... how could anyone on the planet now just seriously I'm saying this here if you would have to have that kind of money to take all these positions the only people that would ever be able to take my class and learn from me would have to be very wealthy people and I'm telling you that's not the case I do have wealthy people that have come and learned from me and then I have people that don't have a lot of money they have $2,500 in a prop account or $5,000 in a prop account and they're making money yep you don't have a margin account set up easy nope you don't have yourself set up you don't have an active day trading margin account set up if you're it that's right you don't but I don't know if it's your broker or they don't offer it or if you just don't have the right set up you can email me for questions later these are very good questions that will help some people I'm sure anyways I teach a class the class is called the Golden Gap course it's a 26 point rating system that tells you the best stock to trade each day well it's a long or short although I prefer it to short it teaches you how to enter and exit the stock on the day and it teaches you advanced technical analysis and really teaches you how to day trade because a lot of these questions are day trading questions that an injured trader is asking but you will learn one strategy it doesn't take a lot of time in the day to do it and you will learn how to get conviction in your trading and part of that has to do with the system and part of it has to do with the time of the day and part of it has to do with understanding how to read these institutional moves that's what gives you the conviction to understand how much money you can make in these stocks I mean holy cow look at that move Google made I think everybody in the room was like wow I mean people regretted not doing that trade they were like ugh you know I mean it's there it's there in the market so you can learn how to do this I say empower yourself to trade if you want to do it I teach a class it's called the golden gap course it's a full two day course on how to strategically find pick and play stocks that are professional bearish gaps the class is online you can be anywhere in the world and take it it's this weekend Saturday and Sunday April 29th and 30th from 9 a.m. to 5 p.m. eastern time I teach the class in the weekend because I don't want to interfere with my trading the cost of the class is $49.99 and if you're interested you can email me at melissaatthestockswush.com now I'm offering the wealth class free which is next Tuesday from noon to three for anybody that signs up for the class this weekend and this is a nice benefit because you will learn a lot about trading psychology in this class and it will be very helpful for some people that have gone through the ringer in trading this really does teach you conviction I also teach another class called the trends course this is about long term trends this is May 17th and 18th if you want to do this one this is better for swing trading the cost of the class is $9.99 it's from noon to three it's how to learn long term trends read long term trends and stock charts and ETFs and I'm offering a combo if you sign it for both you save $500 if you want to do the golden gap course of the trends course and then you would get the wealth class free so it would be three classes for $50.99 and you do them all in the next two weeks any questions from anyone at all good questions here at the end does anyone want me to go over anything whatsoever we have a couple just a couple minutes here I will do a here do I have time to bring up the Google here I have three minutes let me just bring up Google