Fresh & Fit - How to Become A Millionaire With Trading w- Cue Banks And Lambo Raul

00:02:27.000 And we are live.

00:02:28.000 What's up, guys?

00:02:29.000 Welcome to Fresh Up Podcast, man.

00:02:30.000 It's Money Monday.

00:02:30.000 We're here at QBanks in Lambeau.

00:02:31.000 Let's get into it!

00:02:32.000 Let's go!

00:03:23.000 And we are back.

00:03:23.000 What's up, guys?

00:03:24.000 Welcome to Fresh Shift Podcast, man.

00:03:25.000 It's Money Monday.

00:03:26.000 It's going to be our last episode for Money Monday in this studio, guys. 0.98

00:03:30.000 So it's been a good three years, but we're definitely going to be moving and fuck this building. 0.96

00:03:34.000 But anyway, with that said... 0.99

00:03:36.000 It's been a good time.

00:03:37.000 And just so you guys know, at the very beginning of this podcast, QVance came.

00:03:41.000 We didn't even know who we were.

00:03:42.000 Out of love and respect.

00:03:43.000 Shout out to you for coming back, bro.

00:03:45.000 People always ask, why didn't you go on Fresh and Fit?

00:03:47.000 I'm like, bro, I've been on there like two other times already.

00:03:50.000 Yeah, at the very beginning.

00:03:51.000 It was super, super early, though.

00:03:52.000 Very early.

00:03:53.000 He didn't know who we were at all.

00:03:54.000 Actually, we were just beginning, so.

00:03:55.000 Yeah, we were just starting.

00:03:56.000 Everything was fresh.

00:03:57.000 It was cool.

00:03:57.000 It was love, man.

00:03:57.000 It was love.

00:03:58.000 And it's fitting that we would bring him back right before we leave the studio.

00:04:01.000 That's crazy.

00:04:02.000 Appreciate it.

00:04:03.000 But no, man, thanks for being here.

00:04:05.000 So yeah, guys, rumble.com slash freshfit.

00:04:07.000 You guys know where to find us because YouTube is lame and they might go ahead and cancel us.

00:04:11.000 So if anything, you know where to find us, rumble.com slash freshfit and castleclub.tv.

00:04:16.000 Also known as freshfit.locals.com.

00:04:18.000 All the behind-the-scenes content is there, like us kicking out girls, exclusive interviews.

00:04:22.000 We're going to start doing Zoom calls once we move to the new studio over there for y'all.

00:04:26.000 So you guys are going to get a lot of value over on castleclub.tv.

00:04:30.000 But yeah, man, without further ado, we've got two special guests in the house, man.

00:04:32.000 Hey! 0.99

00:04:34.000 We got two legends, Lambo Raul and Q Banks.

00:04:37.000 So, we know who you are, but they might not know who you are.

00:04:40.000 Please tell us.

00:04:41.000 Go first, go ahead.

00:04:43.000 I mean, um...

00:04:44.000 You know what's crazy?

00:04:45.000 I always say all the time, Lambo Raul is like Spanish version of you. 1.00

00:04:48.000 Like Spanish version.

00:04:49.000 I don't know why.

00:04:51.000 Same car, same lifestyle, but go ahead, bro.

00:04:54.000 Yeah, I mean, so my name is Raul, known as Lambo Raul, online.

00:04:58.000 It's weird because a lot of people will come up to me and they meet me for the first time in person.

00:05:01.000 They don't even call me by Raul.

00:05:02.000 It's like, yo, Lambo, what's good? 0.94

00:05:03.000 I'm like, what?

00:05:05.000 And yeah, I mean, I've been day trading for the last six years.

00:05:09.000 I make seven years now in October, and I own multiple online businesses as well.

00:05:15.000 So I want to know from you guys as well, what got you into trading?

00:05:18.000 And then what jobs were you doing before you started trading or during?

00:05:22.000 So, for me personally, what got me into trading was, honestly, like, I had gone through this whole period where I was sick.

00:05:28.000 My initial plan wasn't to get into trading.

00:05:31.000 And to kind of make a long story short, right, with the disease that I was diagnosed with is chronic and you're not allowed into the military.

00:05:38.000 That was kind of like my go-to career path.

00:05:42.000 After high school, I wanted to get into the military.

00:05:44.000 I wanted to be in the Marines.

00:05:45.000 I'm sorry.

00:05:46.000 What was the disease?

00:05:48.000 Oh, wow.

00:05:48.000 Yeah, yeah.

00:05:48.000 So I was diagnosed with Crohn's disease.

00:05:50.000 I was battling Crohn's disease for like two years.

00:05:52.000 Realistically, like three years, but I was diagnosed like a year in.

00:05:55.000 And I couldn't join the military.

00:05:57.000 And then I started looking up ways to make money online.

00:05:59.000 And that's when I kind of stumbled upon the whole trading scene.

00:06:02.000 Okay.

00:06:03.000 And we worked in jobs before or not really?

00:06:05.000 No, at that point in time, I wasn't.

00:06:06.000 I was starting to work with my dad.

00:06:08.000 I was helping him sell products online because he's a dentist.

00:06:11.000 He has a clinic and he also has a line of dental products as well.

00:06:14.000 So I was helping him kind of push that and pretty much just working for him.

00:06:17.000 That was my nine to five, if that's how you want to call it.

00:06:20.000 Although I was at the office from whenever he clocked in to whenever he clocked out.

00:06:24.000 Dr.

00:06:24.000 G, shout out to him, by the way.

00:06:27.000 Thank you.

00:06:28.000 Tell him who you are.

00:06:29.000 We can trade, stuff like that.

00:06:31.000 QBanks, Quill& Black, I've been trading for the past maybe nine years or so.

00:06:36.000 I think I started trading for the fact that the things that I want in life, I have to find a source that could actually bring me...

00:06:53.000 I think?

00:07:12.000 And I remember you worked at Target.

00:07:14.000 Yeah, but even before Target, actually, I had a job at a warehouse.

00:07:19.000 I was working there for about three years, making around $620 every two weeks on salary, which means that even if I worked over 100 hours, I was still going to get...

00:07:29.000 Get paid that $620 each and every single two weeks. 0.99

00:07:32.000 Damn! 1.00

00:07:33.000 That's slavery. 1.00

00:07:34.000 What the heck? 0.60

00:07:35.000 But look, it was my first job.

00:07:36.000 I just got my work permit.

00:07:38.000 You know what I'm saying?

00:07:39.000 I'm just getting into the world because remember, after high school, I had no kind of paperwork.

00:07:43.000 So when I just got my work permit, I had to get my first job, which was...

00:07:47.000 It is what it is.

00:07:47.000 And for the audience that's confused, he's Jamaican, guys.

00:07:50.000 I'm born in Jamaica.

00:07:51.000 I'm born in Jamaica.

00:07:52.000 I'm born in Jamaica.

00:07:52.000 Correct, correct, correct.

00:07:53.000 When I was 9, 10.

00:07:54.000 Because they're probably thinking, what do you mean?

00:07:56.000 Yeah, yeah.

00:07:57.000 So I'm born in Jamaica.

00:07:58.000 And then after high school, everybody's talking about college and everything.

00:08:02.000 I can't talk about college because I couldn't go to college.

00:08:04.000 I couldn't do anything.

00:08:05.000 So I had to come across another source that pretty much can actually...

00:08:09.000 Support me, knowing that I couldn't get a job, I couldn't do anything else.

00:08:13.000 So that's when I got a...

00:08:14.000 I came across things to make online money.

00:08:16.000 And then I got, like, my first job.

00:08:18.000 And to me, like, that first job was just cool because...

00:08:21.000 I have to just put in a little bit of time, and I get a check.

00:08:25.000 If my first check ever, I'm like, yo, all I have to do is just go here a certain amount of hours, and I'm making this every two weeks?

00:08:31.000 Cool.

00:08:31.000 But that's all that I knew at the time.

00:08:33.000 Until after three years, and I was like, you know, bro, this ain't it.

00:08:37.000 This can't be life.

00:08:38.000 This ain't it.

00:08:38.000 But then Target happened after that right there.

00:08:40.000 So I got fired from that first job, and then I got at the Target job, which everybody knows.

00:08:45.000 And I was at Target for about 10 months, and from that point, trading full-time after that.

00:08:51.000 Okay.

00:08:51.000 And guys, I understand trading is a whole different world itself.

00:08:54.000 What do you actually trade?

00:08:56.000 What's that method like?

00:08:58.000 What do you trade?

00:09:01.000 Currencies, crypto?

00:09:03.000 Well, for the first six years, I started off with...

00:09:05.000 Well, the first year, I started off with mainly commodities like oil.

00:09:09.000 I started trading oil.

00:09:10.000 My first ever trade was on oil.

00:09:12.000 And then I started trading currencies...

00:09:16.000 AUD-USD, USD-JPY, and that kind of stuff for a couple years.

00:09:19.000 And then for the past maybe like three years, I've been trading only US-30, which is an index, which is a lot more volatile than the currencies.

00:09:25.000 So, I mean, it's a different level of money.

00:09:28.000 You know what I'm saying?

00:09:28.000 The same amount of effort, but just a different level of money when it comes down to it.

00:09:31.000 As a beginner, where should they start, you think?

00:09:33.000 What should they trade first?

00:09:35.000 As a beginner.

00:09:36.000 For a brand new person, bro, I feel like you should actually embrace the fact that it takes a lot to actually understand the charts.

00:09:42.000 You know what I'm saying?

00:09:42.000 You have to get good at your technicals.

00:09:44.000 You have to get good at pretty much understanding what the fuck you're even looking at. 0.99

00:09:47.000 You know what I'm saying? 0.99

00:09:48.000 So I feel like just start off on a pair that's pretty much slow.

00:09:50.000 I would say AU or UJ, pairs of that sort, that pretty much doesn't really have that much movement, but it gives you enough time to actually learn the skill of even analyzing a chart.

00:10:00.000 What is AU and UJ? All the USD. Australian dollar.

00:10:04.000 Okay.

00:10:05.000 Australian dollar versus the USD. So you would say like if you're going to trade currencies, like look at that first, master that exchange between those two different currencies and then work your way?

00:10:13.000 Well, first, it's a slow moving pair.

00:10:15.000 So it's not like it's just that currency, but it's a pair that doesn't really move as active as others and everything.

00:10:21.000 Like if a person started trading GDP, JPY, when they first started, they're going to get wrecked.

00:10:26.000 There's a lot more volatility involved.

00:10:28.000 Gotcha.

00:10:28.000 They're going to have a bad taste in their mouth about trading after experiencing that first.

00:10:31.000 AUD to USD is less volatile, a little bit more stable, safer to trade with that.

00:10:35.000 Correct.

00:10:35.000 The margins on profit won't be as high, but the margins of loss won't be as high, which as a beginner...

00:10:40.000 Correct.

00:10:40.000 But you're learning.

00:10:40.000 Yeah.

00:10:41.000 And then eventually you kind of like this upgrade a little bit more, a little bit more over the years.

00:10:43.000 And you get to riskier and riskier.

00:10:45.000 Would it be fair to say that regardless of what you're trading, the charts are almost all identical?

00:10:49.000 They have candles, what is it?

00:10:50.000 They call it candlesticks, if I'm not mistaken.

00:10:52.000 So whether it's cryptocurrency, commodities, currencies, all candlesticks.

00:10:56.000 If you can read one chart, you can read another chart easily.

00:10:58.000 Pretty much like the skill of trading and analyzing overall, Raoul would definitely agree.

00:11:02.000 We could analyze anything.

00:11:04.000 It doesn't matter what it is.

00:11:05.000 Corn. 1.00

00:11:06.000 I can analyze that shit. 1.00

00:11:07.000 You know what I'm saying? 1.00

00:11:07.000 It doesn't matter. 1.00

00:11:08.000 Once there's candlesticks on the charts, we have the knowledge actually to be able to break it down and anticipate what's going to happen next based on what's currently being shown on the chart at that point.

00:11:17.000 So that explains why you guys are skilled at trading so many different things.

00:11:21.000 It's because you understand the fundamentals of how to read the chart.

00:11:24.000 If you can read the chart, then you can basically trade in that universe.

00:11:27.000 Basically understanding how to read price action.

00:11:28.000 Price action.

00:11:29.000 A lot of the price action is very similar.

00:11:31.000 It really depends on what type of assets you're trading.

00:11:32.000 And it also depends on the types of system you're trading as well.

00:11:35.000 There's a lot of people who have a very systematic approach as to how they're going to trade.

00:11:39.000 And then maybe that specific system may work better with other assets compared to different assets such as commodities or stocks or cryptos and currencies.

00:11:48.000 But if you're a great trader or reading price action and your system is kind of very discretionary, then you could trade multiple different assets that...

00:11:58.000 The workflow is going to be a little bit different based on how fast that currency pair is or that asset is, but the overall foundation of the entire analyzing aspect of it is going to be similar.

00:12:09.000 Workflow as far as what time frames you trade on, what What you use to actually analyze the charts and everything else.

00:12:15.000 It's going to be similar, but at the same time, like how you use it is going to be very, very different.

00:12:18.000 Like, for example, there's like on odd USD, like I wouldn't focus on the one minute too much because it's too slow at that point.

00:12:28.000 I could focus on the M30 or the H1 to actually take a trade on versus let's say like USD. U.S. 30.

00:12:38.000 I could go on the one-minute time frame because it's a period that pretty much moves fast enough that I could analyze and still make money even on that one-minute chart.

00:12:45.000 Compared to other charts, it's too slow or it's not even volatile enough to even like...

00:12:49.000 And when you're saying a one-minute chart, does that mean that you need to make a decision and place a trade within one minute?

00:12:54.000 No, which means every single minute, it's forming a brand new candle.

00:12:58.000 It's closing a candle.

00:12:59.000 So it's pretty much like closing it and forming the charts and everything off of that one minute chart.

00:13:03.000 Can you tell the audience what forming a candle signifies on the chart?

00:13:06.000 It's the movement of like price.

00:13:08.000 It's data.

00:13:09.000 It's basically the data solidifying.

00:13:10.000 Because when the candlestick is fluctuating, that's just the candlestick printing data essentially.

00:13:15.000 But once it's already done, it's...

00:13:17.000 What happened?

00:13:18.000 What was that, Mo?

00:13:19.000 We good?

00:13:21.000 We just want to make sure the audio is good on his mic.

00:13:22.000 Yeah.

00:13:24.000 Okay.

00:13:24.000 Oh, yeah.

00:13:25.000 Just stay close to it, bro.

00:13:26.000 Yeah, and then once the candlestick actually closes, that's when the data is solidified.

00:13:29.000 Okay.

00:13:30.000 All right.

00:13:30.000 Okay.

00:13:31.000 And Raul, what do you trade?

00:13:32.000 I want to say right now, I guess.

00:13:33.000 What do you trade?

00:13:34.000 And for a beginner, what should they start with, you think?

00:13:36.000 So for me personally, I started off by trading currencies and commodities, and I traded currencies and commodities for four years, and then I actually went over to also trading indexes or indices as we kind of know it.

00:13:47.000 I mean, some people also trade futures as well, which I trade SPX 500, and I also trade NAS 100, but other people trade that asset class in futures, which essentially is NQ and ES, right?

00:13:57.000 And that's what I've been trading for the last two years.

00:13:59.000 Yeah.

00:14:08.000 Right.

00:14:21.000 We'll kind of give you a better direction because you need volatility to make money.

00:14:25.000 If you plan on being a scalper and a really shorter term time frame trader, then you don't probably want to trade something like AUD, USD because you're not going to see opportunity the majority of the time versus going and trading something like the NASDAQ or US30 or the S&P 500 where you can go on the one minute time frame and there's volatility and opportunity every day.

00:14:42.000 He looks lost, but a scalper is a person that pretty much trades in and out.

00:14:49.000 They focus on a very, very quick time frame that moves very, very fast.

00:14:52.000 It's like a quick little push.

00:14:53.000 And that's it.

00:14:54.000 Versus a swing trader, they probably hold trades for days, weeks, months at times.

00:15:00.000 A position trader, they probably hold trades for six months or a year plus.

00:15:04.000 It's basically like long-term investing.

00:15:08.000 What I'm hearing is you need to learn the terminology before you even get into it.

00:15:11.000 Of course.

00:15:11.000 Education is the biggest thing.

00:15:12.000 With everything.

00:15:13.000 I feel like if you're getting into a brand new field, you can't understand or you can't be a part of that conversation unless you understand the language of that conversation.

00:15:19.000 Of course.

00:15:19.000 You know what I'm saying?

00:15:20.000 With anything else.

00:15:21.000 So the biggest thing is to even get in trading.

00:15:23.000 I feel like you have to understand the terminology first.

00:15:25.000 So when you're having...

00:15:26.000 When you're having a conversation with somebody else that's already a part of that system, you're comprehending what they're talking about versus just listening.

00:15:33.000 You know what I'm saying?

00:15:34.000 So if I just understand what everything means, what pips means, what price actually means, all this stuff, it pretty much makes sense to you now because you actually understand the terms of what's being spoken.

00:15:43.000 You mentioned pips.

00:15:44.000 What does pips mean again?

00:15:45.000 Pips is just, you know, the points that are pretty much on the charts, like the price, pretty much like the lowest number of that price point is pretty much pips, like just like the lowest decimal point.

00:15:56.000 Is there like a mock chart that we can pull up real quick that you guys have on one of your websites, like a mock chart that we can show the audience real fast just so they can kind of see it visually?

00:16:04.000 I mean, if you don't, don't worry about it.

00:16:06.000 Listen, throw up a chart, bro.

00:16:07.000 Whatever.

00:16:08.000 Let's do it.

00:16:09.000 I have no problem with it.

00:16:10.000 Okay.

00:16:11.000 You can just go on TradingView.

00:16:13.000 Yeah, what should we do?

00:16:14.000 Do tradingview.com?

00:16:15.000 Yeah, you can go on tradingview.com.

00:16:16.000 Okay.

00:16:16.000 Phyllis, can you pull that up on the side?

00:16:17.000 I think it's one thing to talk about.

00:16:19.000 It's another thing to visually show the audience and kind of show them, okay, this is what a candlestick is here, blah, blah, blah.

00:16:24.000 I was going to ask the next question.

00:16:26.000 Yeah, yeah, yeah.

00:16:26.000 Go ahead.

00:16:26.000 Go ahead, please.

00:16:27.000 Obviously speaking, you don't get into this randomly.

00:16:29.000 You have to either have a mentor or someone that knows the way.

00:16:32.000 Do you guys have mentors in your space?

00:16:33.000 And how do you get a mentor, you would say, in trading?

00:16:36.000 Yeah.

00:16:37.000 I mean, there's tons of different mentors out there.

00:16:41.000 Some people take the mentorship route.

00:16:43.000 Some people won't take the mentorship route.

00:16:44.000 I mean, nowadays there's so much information online, but I look at it in two different ways, right?

00:16:50.000 It's like, okay, you can go and try and do everything on your own or you can go and find somebody that's already done what you're looking to do and they're successful at it and they'll shorten your learning curve.

00:16:57.000 Yeah.

00:16:58.000 So, you know, it's kind of as simple as that to me.

00:17:00.000 It's like the same exact way you go to school to be a doctor.

00:17:03.000 Somebody's already gone through that process and they're teaching you how to do it.

00:17:06.000 I'm a mentor.

00:17:07.000 He's a mentor.

00:17:08.000 And it's just kind of like being selective on the individual that you're trying to learn from.

00:17:11.000 Like when I first started trading, like he was one of the guys that I learned from and grabbed principles from him to apply to my own trading.

00:17:18.000 Right.

00:17:18.000 You know, and I was only able to shorten my learning curve because of buying X and Y, Z course to, again, help me with my trading and shorten my learning curve.

00:17:25.000 Because there's so much info out there, bro, it's confusing. 0.98

00:17:28.000 So to package it in one where people can see it, I think that's better because all these terminologies, all these terms, I'm like, God damn!

00:17:33.000 Yeah, so look, like, you have YouTube University, right? 0.88

00:17:37.000 Of course, right?

00:17:38.000 It's free, of course.

00:17:39.000 But, like, you're pretty much on a system that pretty much is like an encyclopedia. 0.98

00:17:44.000 Everything is disorganized as fuck, you know what I'm saying? 0.88

00:17:46.000 Versus a person that you're actually learning from within a mentorship, everything's organized. 0.99

00:17:50.000 You're pretty much learning everything from A to Z, which makes it a lot more easier to digest in some kind of way.

00:17:55.000 So I feel like even paying that extra money and everything for mentorship and that kind of stuff is cool because you're not going through all the headache of trying to even find what works and what doesn't work and everything, but you're finding what works for that person and it could probably work for you as well.

00:18:07.000 Got it.

00:18:08.000 Question for you.

00:18:09.000 I remember, especially when we did our first interview back in the day, back in 2020 to 2021, there was like a huge push for Forex trading.

00:18:17.000 I remember everyone was trading Forex.

00:18:19.000 There was courses on it.

00:18:20.000 Everyone was on Instagram.

00:18:21.000 Hey, I'll teach you how to trade Forex, etc.

00:18:23.000 Is this still as popular as it used to be?

00:18:25.000 Or is it not?

00:18:26.000 Is it slowed down a bit?

00:18:27.000 As far as what?

00:18:28.000 Just like...

00:18:29.000 Because I remember, man, there was a period where every girl I met said that she was a Forex trader.

00:18:33.000 Yes!

00:18:34.000 I'm a trader!

00:18:35.000 I'm an entrepreneur!

00:18:36.000 And I'd ask them, what do you trade specifically?

00:18:38.000 And they would all say Forex.

00:18:39.000 And I was like, but I haven't seen as many people talk about Forex unless it's guys like you that make a bunch of money on it and actually understand the charts.

00:18:47.000 But random people would be like, oh yeah, I trade Forex.

00:18:49.000 And I'm like...

00:18:50.000 Well, back then, it was more being pushed by...

00:18:53.000 MLM company.

00:18:53.000 MLM companies.

00:18:54.000 The thing with MLM is cool, but at the same time, we're kind of against it because at the same time, they're very, very good at marketing, which means that they know how to pretty much attract 5,000 people at one time.

00:19:05.000 That's crazy as hell.

00:19:06.000 Which means that they're attracting all the people to introduce them to trading overall.

00:19:11.000 Eventually, they'll understand that they're not learning much from those companies and then fall off that company and then fall into us.

00:19:18.000 Pretty much actually teach the craft and that kind of stuff.

00:19:21.000 And mind you, We teach the craft because we're kind of like beyond the fact of making money. 0.85

00:19:25.000 We make money even if we have no courses and that kind of shit. 0.75

00:19:28.000 We actually are good at the charts and everything. 0.72

00:19:30.000 So at the same time, the fact that we're able to actually give our value back to people in some kind of way, which is we're kind of like doing our...

00:19:38.000 We're giving our value back knowing that we're making good money, but we're giving it back to say that we gave our value to the community in some kind of way so we could actually step back and have the new generation of traders actually thrive.

00:19:51.000 You know what I'm saying?

00:19:51.000 So you're teaching them how to fish versus actually giving them the fish.

00:19:54.000 Exactly.

00:19:57.000 You can do that.

00:19:58.000 And people do that, which is fine, but at the same time, you're still being dependent on that person, which is, at times, it gets annoying and everything.

00:20:04.000 I'm not knocking the people that give signals, but at the same time, it's just the fact that it's real.

00:20:08.000 Versus teaching the person how to actually fish, they could actually make money for the rest of their life at that point, which means that you're giving that value to them by just paying a little last fee.

00:20:18.000 Like, you do anything else.

00:20:18.000 In college, you pay a little fee.

00:20:20.000 Was the reason for that because it's, I guess, easy to copy Forex trading with signals? 1.00

00:20:20.000 Same shit. 1.00

00:20:25.000 Is that why it was such a... 1.00

00:20:26.000 Because it was like an explosion of popularity from 2020 to 2021.

00:20:29.000 I remember everyone was doing it.

00:20:30.000 People were copying signals.

00:20:31.000 Everyone was like, oh yeah, I'm going to go ahead and get a MetaTrader account and trade Forex and everything else like that.

00:20:37.000 And they'll kind of just copy trades, but no one actually knew what the hell they were doing.

00:20:39.000 Well, the thing about copy and trade is this right here, I feel like.

00:20:42.000 It's just the fact that, you know, you don't know what that trader is thinking.

00:20:44.000 A lot of times, like, you know, it could be just a scalp.

00:20:47.000 It could be just a swing trade.

00:20:48.000 It could be just a position trade.

00:20:49.000 Like, you don't know what, like, the motive for that trade is.

00:20:52.000 So a person that does signals, it's cool for, you know, a temporary amount of time, but you don't truly know what that trader is actually thinking or what their motive is for that certain trade.

00:21:01.000 You know what I'm saying?

00:21:01.000 Which is kind of, like, hurtful, too, because one person could have made money and one person could have lost money.

00:21:06.000 Gotcha.

00:21:07.000 Based on what the motive for that trade was, it could have been the scalp, but they thought it was a swing trade.

00:21:11.000 You know what I'm saying?

00:21:12.000 So they were probably in profit for a certain amount of time, and then by the time that that person actually got out of their trade, the other person held the trade, and now they lost.

00:21:19.000 Gotcha.

00:21:19.000 You know, so it's...

00:21:21.000 It depends on what the motive for that trade is.

00:21:24.000 And you're constantly watching your phone for signals and you're not...

00:21:26.000 Yeah. 1.00

00:21:27.000 Versus actually analyzing on your own time and that kind of shit. 0.99

00:21:30.000 It's all on you at that point. 0.91

00:21:31.000 But I feel like one of the big reasons that Forex trading in specific blew up because trading has been around for years, 20 years.

00:21:38.000 No, decades.

00:21:39.000 Forex trading in specific, I feel like it blew up because the entry level was just a lot cheaper to get in versus stocks.

00:21:45.000 Because when you go and you're going to open up an account to trade options like TD Ameritrade, you're going to fall under the PDT rule.

00:21:50.000 If you don't have above $25,000 to actually trade, then you're going to be so limited on how you can actually trade.

00:21:56.000 Versus Forex, I mean, there's so many brokers, you deposit $100 and you have no limitations on how you're going to trade, which is a big reason why I feel like Forex blew up.

00:22:04.000 You now have brokers, well, back then, there were brokers that was offering like $3,000 to one leverage.

00:22:08.000 Yeah, it was ridiculous, bro. 1.00

00:22:09.000 That is fucking crazy. 1.00

00:22:10.000 You know what I'm saying? 1.00

00:22:10.000 Ridiculous. 1.00

00:22:11.000 Can you explain what that is specifically and how that works? 0.86

00:22:13.000 It gives you the ability to pretty much manage more money without having the actual capital.

00:22:18.000 Oh, wow.

00:22:18.000 Pretty much.

00:22:19.000 So you essentially, you put $1,000 and they'll give you $3,000?

00:22:22.000 No, but let's say if you have 1 to 1,000 leverage with a $1,000 account, technically you could do max 33 lots that would actually execute, but you will be in full margin once you actually execute, but you have the ability to do that with a 1 to 1,000 leverage.

00:22:38.000 That means that you could go super, super hard without having the full capital, pretty much.

00:22:42.000 But if you lose, then you get into a negative.

00:22:45.000 It can happen.

00:22:45.000 Yes.

00:22:46.000 It can start owing them a lot of money.

00:22:47.000 It can happen, yeah.

00:22:47.000 At times, yes.

00:22:48.000 Depending on how the broker is actually set up and everything.

00:22:51.000 That's scary.

00:22:52.000 You can go negative, though.

00:22:53.000 You can go negative on certain brokers.

00:22:54.000 I'm going to use my real estate mind real quick, because this is a different world for me.

00:22:57.000 So you're basically borrowing money from the broker to, I guess, I don't want to say wage.

00:23:03.000 Leverage?

00:23:04.000 It's being done simultaneously, so you don't really see the transactions and that kind of stuff, but technically, yeah.

00:23:09.000 Yeah, so you're borrowing money from the broker to go and take a more, I guess, bigger position, which might yield bigger profits, but also might yield bigger loss.

00:23:19.000 And if you lose that money, aka their money, you are on the hook to pay them back.

00:23:22.000 If it hits hard, you could actually close early and not be in a negative, but let's say if you're that person that's pretty much going super hard on that account that is in full margin and that kind of stuff, and you're using max leverage, and a big news hit, like CPI news or that kind of thing,

00:23:38.000 and all of a sudden it gives you the ability to now go negative in your account based on just how aggressive that news event is.

00:23:46.000 It's basically gambling at that point.

00:23:50.000 It's literally gambling because you're not even focused on the probabilities at that point because every single trade you take, there's a probability behind it.

00:23:57.000 At that point in time, you're not even focused on like, oh, hey, you know what?

00:24:00.000 I probably have a 40% chance of losing this trade, but I'm still going all in. 0.95

00:24:05.000 It's ridiculous. 0.66

00:24:06.000 Don't get me wrong. 0.64

00:24:07.000 I've had those times that I just went full march effort because I was a beginner in the game.

00:24:12.000 Of course.

00:24:13.000 Every now and again, I would have my main account, but every now and again, throw a couple hundred here, and then I used to go crazy just to see what happens.

00:24:22.000 That was in the beginning stages, having fun.

00:24:24.000 You know what I'm saying?

00:24:25.000 People get too caught up on trying to be super disciplined with every single thing.

00:24:29.000 You can have a little bit of fun, too, and be a little bit risky at times, too.

00:24:33.000 Is the key, I guess, to put money in that if you lost it, you wouldn't flip your mind?

00:24:37.000 Correct.

00:24:38.000 Don't put in money that is pretty much going to pay your mortgage or your rent or your car payment, that kind of stuff, because that money is vital.

00:24:43.000 You know what I'm saying?

00:24:44.000 To your lifestyle and that kind of stuff.

00:24:45.000 But extra money that you don't mind losing, that could actually be gone and you don't care about it, that's the kind of money that you should invest in.

00:24:52.000 And then also at that point in time, if you're investing money that you can't afford to actually lose, you won't even be able to trade with Clarity to begin with.

00:24:57.000 So you're already making a poor decision off the bat before you even took your very first position.

00:25:03.000 And even if you're not in a trade, the money that you have in your trading account is still at exposure to risk because it only takes one day, one bad trade to wipe out that entire account if you have a poor risk management system.

00:25:14.000 When I tell people, if you're going to deposit money into a trading account, you also have to consider that money until you withdraw it from the actual brokerage and you realize those gains and you put it into a checking account completely separate where you can't actually take positions.

00:25:26.000 That money is still very well at risk.

00:25:29.000 Because it's not your money until you withdraw the money, pretty much.

00:25:33.000 So you guys mentioned emotion.

00:25:35.000 That's a huge thing in trading, right?

00:25:36.000 Probably the biggest thing.

00:25:38.000 So controlling emotion is going to be paramount.

00:25:40.000 Yeah, man, because I feel like you're dealing with money.

00:25:44.000 You know what I'm saying?

00:25:45.000 Everybody's emotions come out when it's money involved in some kind of way.

00:25:48.000 It could be small money, it could be big money.

00:25:50.000 It doesn't matter what it is.

00:25:50.000 You're still dealing with money that could actually make a change in your life in some kind of way.

00:25:54.000 Okay.

00:25:55.000 So, yeah, you have to kind of like, you know, just hone in on your emotions and like not actually get too caught up in like being impulsive on the charts, you know? 0.97

00:26:04.000 That's because you're seeing money fluctuate and that kind of shit. 0.95

00:26:06.000 Yeah, that's kind of nerve-wracking. 0.98

00:26:07.000 All right, let's do some chats real quick and then we'll hop back into questions.

00:26:10.000 Yeah.

00:26:12.000 No, very interesting stuff.

00:26:13.000 Different world for me, man.

00:26:14.000 Yeah, yeah, yeah.

00:26:15.000 It's complex.

00:26:16.000 No, no, no, no.

00:26:16.000 It's cool.

00:26:17.000 I mean, I think it's great for people to learn different things.

00:26:19.000 But see, to me, I need to mentor 100%.

00:26:22.000 Oh, yeah.

00:26:22.000 For something like this?

00:26:23.000 Bro.

00:26:23.000 You can't do this by yourself, bro.

00:26:24.000 Hell no.

00:26:24.000 No, sir.

00:26:25.000 Hell no.

00:26:27.000 John Doe donated $10.

00:26:28.000 Which pair would you guys recommend for beginners?

00:26:31.000 Well, I had mentioned earlier.

00:26:33.000 A-U-U-S-T? Odd USD or USD JPY, you know what I'm saying?

00:26:37.000 Based on the amount of information that's out there nowadays, I feel like you could actually gain a good amount of information to not have to go on the slowest pair, but you could probably go on a moderate pair that could actually have some kind of fluctuation that's good enough to actually make some decent money.

00:26:48.000 And learn at the same time.

00:26:49.000 I don't know.

00:26:50.000 I would say it really depends on what you're trying to trade.

00:26:53.000 If you're trying to trade cryptos, if you're trying to trade stocks, if you're trying to trade Forex, commodities, I would probably focus on something that moves a little bit slower, that has a little bit less volatility, because it'll be a lot easier when it comes down to decision-making time.

00:27:06.000 Can you guys give us one pair for each discipline?

00:27:10.000 So you started with AUD, USD, JPY, USD? Yeah, because I started on currencies, like actually focus on currencies for a good amount of time.

00:27:17.000 You know what I'm saying?

00:27:18.000 I don't try to recommend much on indexes for a beginner because it's such an advanced fear.

00:27:24.000 It could slap you up.

00:27:25.000 You know what I'm saying? 1.00

00:27:26.000 Make a person cry type of shit. 1.00

00:27:27.000 So don't even touch it. 1.00

00:27:27.000 What about crypto? 1.00

00:27:29.000 Cryptos also.

00:27:30.000 Cryptos is very, very spiky and that kind of stuff.

00:27:31.000 I feel like it's not really...

00:27:32.000 There's a lot of consolidation, too.

00:27:34.000 It's more emotional-based.

00:27:35.000 It's not like actual fundamental news-based and that kind of stuff, like how currencies are and that kind of thing.

00:27:40.000 So with currency, I feel like it's a bit more stable.

00:27:43.000 Okay.

00:27:43.000 So the fact that you'll see movement each and every single day with a currency pair.

00:27:47.000 Gotcha.

00:27:47.000 So for beginners...

00:27:49.000 Learn, put the training wheels on with the currencies.

00:27:52.000 Get the foundation right and that kind of stuff.

00:27:53.000 And then eventually start to upgrade your different assets and that kind of stuff over time.

00:27:56.000 Commodities as well as advanced you would say?

00:27:58.000 Commodities is pretty slow.

00:28:00.000 Like I said, I did oil when I first started also.

00:28:02.000 Oil and then gold eventually.

00:28:04.000 But oil was very, very slow back then.

00:28:06.000 I haven't seen or even seen anybody trade oil in years.

00:28:08.000 But back then, that's what I actually trade for.

00:28:11.000 A couple weeks and that kind of stuff.

00:28:12.000 But I would only recommend currencies to start off though.

00:28:16.000 Gotcha.

00:28:17.000 Okay.

00:28:18.000 What else do we got here?

00:28:19.000 Guys, yeah, get your questions.

00:28:20.000 You got two experts here.

00:28:21.000 Yeah, literally.

00:28:22.000 That are the best in the game.

00:28:24.000 W Ron goes, can these guys show P&L broker statements for the last 12 months from a broker they don't own?

00:28:29.000 If you've been in FX for years, you know these guys are marketers and course sellers, not traders.

00:28:36.000 Elfresh, don't destroy Myron's rap.

00:28:39.000 Definitely not.

00:28:39.000 That's a funny thing is because despite how much money that we've withdrawn and traded for and that kind of stuff over the course of years and years and years and years, people still hate on the fact that we still give good education also and we have tons of students that's also making money inside the market as well.

00:28:56.000 So people ignore the whole fact of we also trade ourselves, we also withdraw ourselves, we show tons of profits, but they always go back to the whole course stuff.

00:29:06.000 It's wrong to have a course.

00:29:09.000 It's wrong to give your information away.

00:29:10.000 The moment you got a course to what you're doing, it's wrong.

00:29:13.000 Yeah, yeah, yeah.

00:29:14.000 Everyone's already automatically acceptable.

00:29:15.000 Because I've met people that have done your course and they've made thousands of dollars.

00:29:17.000 Not even that.

00:29:18.000 Last year alone, I had two.

00:29:20.000 My official first course, the one I gave to you, I've only had for a year and a half open.

00:29:24.000 And I've had two students completely quit their nine-to-five jobs and become full-time day traders.

00:29:27.000 One student, he was making like $80,000 a year.

00:29:30.000 He made that in two months.

00:29:31.000 And I'm not saying that it's something that you just go take the course, you're done, and then you're automatically making money.

00:29:36.000 They put in the work.

00:29:37.000 But I provided them with the foundation and the platform to be able to execute on their trading system.

00:29:41.000 Yeah.

00:29:42.000 Not even just that.

00:29:43.000 And I mean, when it comes to like the whole withdrawing your profits and everything, I've been as transparent on my YouTube channel as much as I possibly can.

00:29:52.000 Like literally showing you, hey, this is my trading account.

00:29:54.000 I'm going to show you the withdrawal and internal transfer from my trading account to my wallet, from the wallet inside of the broker to then it going to...

00:30:01.000 I've seen it.

00:30:02.000 And it doesn't matter.

00:30:03.000 It doesn't matter.

00:30:03.000 You can show everything.

00:30:05.000 I've shown everything.

00:30:06.000 It doesn't matter.

00:30:07.000 There's always going to be people that pretty much once a person is selling a course, they're a scammer.

00:30:11.000 It doesn't matter.

00:30:12.000 You could make all the money in the world and everything.

00:30:13.000 Mind you, if a person was just depending on course sales, the lifestyle could not be maintained.

00:30:19.000 That's like one car.

00:30:22.000 I've met you guys multiple times.

00:30:25.000 I've seen your lifestyle.

00:30:26.000 You can't fake that and courses can't pay for that.

00:30:28.000 I'm telling you.

00:30:28.000 That's too exorbitant to be from courses alone.

00:30:31.000 It wouldn't be sustainable.

00:30:33.000 It's what we signed up for.

00:30:35.000 People hate It is what it is, you know what I'm saying?

00:30:37.000 It's part of it, to be honest.

00:30:39.000 It's part of it.

00:30:39.000 Once you're in a position, the person that pretty much says all that is normally the person that pretty much either can't afford it or the person that just, you know, just failed.

00:30:48.000 It's like, there's so many things that I've also personally done as well.

00:30:51.000 Like, there's just one company...

00:30:53.000 FTMO, one thing that's huge in the trading space, which is absolutely amazing, is funding, prop firm funding.

00:30:59.000 And FTMO had been out for years, even probably around the time I started trading that I had no idea about.

00:31:05.000 So they were even open before I even knew about what trading actually was.

00:31:09.000 I went on there, and with their super tight limitations and restrictions on the risk parameters that they have, I was still able to make $100,000 in a month.

00:31:17.000 That's just off of one payout.

00:31:18.000 And people are still skeptical about that.

00:31:20.000 So, I mean, it's at the end of the day, like, a lot of people are, especially when it comes from hate, a lot of people just are in a situation where it's like they're not making those same accomplishments or anywhere near.

00:31:29.000 So they're trying to kind of, like, deflect their failures onto other people and saying, oh, no, it's not possible.

00:31:35.000 He's not really doing it like that.

00:31:36.000 Yeah, but it's like, I believe it.

00:31:36.000 It's like anything else, right?

00:31:37.000 In college, you take a business course, right?

00:31:41.000 You're trying to actually learn a business in some kind of way.

00:31:44.000 And that teacher that's teaching you that a lot of times don't have a business.

00:31:46.000 Yeah.

00:31:47.000 So that makes them invalid, right? 1.00

00:31:49.000 Same shit! 1.00

00:31:50.000 You know what I'm saying? 1.00

00:31:50.000 It's the same exact thing, bro. 1.00

00:31:52.000 At the same time, we are good at what we do, so we're actually giving back our knowledge in some kind of way so another person can actually find value in it.

00:31:59.000 It's interesting, because if you just did it yourself and didn't teach anyone, they would say you're selfish.

00:32:02.000 But then if you do a course, then they say you're a scammer.

00:32:04.000 So you really can't win.

00:32:05.000 It doesn't matter.

00:32:06.000 It doesn't matter.

00:32:07.000 You're always going to get the backing up of the stick every single time.

00:32:10.000 Because y'all got a bunch of free content on y'all channels.

00:32:12.000 It's tight below, guys.

00:32:13.000 You can watch their stuff.

00:32:14.000 I've seen their stories.

00:32:15.000 No worries. 0.99

00:32:16.000 When they do withdrawals, I'm like, holy shit. 0.99

00:32:17.000 That's crazy money. 0.99

00:32:18.000 But you show it!

00:32:19.000 I've even gone as far as showing step by step and even showing the withdrawal hitting my bank account and showing a bank statement.

00:32:27.000 And people are like, nah.

00:32:28.000 It's fake. 0.98

00:32:29.000 It's just ridiculous. 0.97

00:32:30.000 But not even that, bro. 0.90

00:32:30.000 We don't even have only paid education. 0.90

00:32:34.000 A ton of free education as well.

00:32:37.000 On YouTube as well.

00:32:38.000 And I even show live trades like, hey, this is when I'm entering a position.

00:32:41.000 Like, there's so much transparency that I have done that he has done as well.

00:32:45.000 And I mean, people are going to be...

00:32:46.000 It is what it is, bro.

00:32:48.000 That's what we signed up for.

00:32:49.000 They don't have the lifestyle, so that's what it is, bro.

00:32:50.000 Fair enough.

00:32:51.000 Alright, who's next?

00:32:52.000 We got here...

00:32:53.000 Who's up next?

00:32:55.000 And guys, get your questions in now, man.

00:32:57.000 Again, fnfsuperchat.com to superchat your question and we'll run it in.

00:33:00.000 Shout out Raul Alex G. Shout out to you, Anonymous.

00:33:03.000 20 bucks.

00:33:04.000 And then it goes here, Fly Low says, Myron's face on last after hours was priceless when Mo revealed the Instagram.

00:33:10.000 Shout out to y'all.

00:33:11.000 I was 5'10", 250 pounds, 32% body fat a year ago.

00:33:14.000 After my motorcycle accident, I hit the gym now.

00:33:16.000 I'm 250 pounds with 20% body fat.

00:33:18.000 20 pounds until 50% body fat.

00:33:21.000 Keep it up. 0.69

00:33:21.000 F the haters. 0.69

00:33:22.000 Yo, shout out to you, bro.

00:33:23.000 Hey, man, no excuses.

00:33:24.000 That's what I like to see.

00:33:25.000 You got it, bro.

00:33:25.000 Tyler Durden goes, not to get all dark and ish, but there was a 20-year-old kid that was trying to learn option trading on Robinhood and got his account and his account ended up with negative 100k.

00:33:35.000 He ended up self-deleting, but he didn't realize he didn't really owe that money.

00:33:39.000 I've seen that, actually.

00:33:40.000 I saw that, too.

00:33:40.000 That was a glitch on their system.

00:33:43.000 Wow.

00:33:44.000 That's unfortunate. 1.00

00:33:44.000 But then he took his life and everything and that kind of shit. 1.00

00:33:47.000 Dude, does Robinhood suck because I've only heard bad things about Robinhood. 1.00

00:33:49.000 Don't buy a crypto on it. 0.99

00:33:50.000 It's a terrible platform.

00:33:52.000 We've heard bad things about it.

00:33:53.000 It's not even that.

00:33:53.000 It's just a platform that was kind of like out before it actually got real big as far as like in the niche and everything.

00:34:00.000 The niche is now starting to blow up in all kind of ways, but Robinhood was kind of like the more simple platform. 0.79

00:34:05.000 Like, hey, deposit here and then like they'll invest for you and that kind of shit.

00:34:08.000 It wasn't like you're investing like trading like how we're investing. 0.77

00:34:12.000 Would it be fair to say that it basically was built, but the infrastructure couldn't keep up with the demand?

00:34:18.000 I think it was more for just the people that didn't want to do anything or even learn anything. 0.97

00:34:22.000 Just put your money here, and then they'll just work for you and that kind of shit. 0.99

00:34:26.000 So at the same time, that's probably what he did, and then all of a sudden that happened. 0.90

00:34:30.000 But he wasn't actually trading like how we're trading the charts.

00:34:32.000 Did he put it on some robot or something?

00:34:34.000 No, it's just a platform that pretty much shows data, but...

00:34:37.000 It shows the names of everything.

00:34:39.000 It shows no kind of charts on there.

00:34:40.000 There's no charts or technical analysis and everything on a Robinhood platform.

00:34:44.000 I think Robinhood is different now.

00:34:45.000 Because I've seen people actually execute.

00:34:47.000 You could trade options on Robinhood, yeah. 0.99

00:34:49.000 That's fucking crazy. 0.94

00:34:50.000 It's more like a beginner-friendly platform, in my opinion, compared to us opening up an account with... 0.99

00:34:55.000 You don't have to go along with...

00:34:58.000 Complexities of, like, the terminology and that kind of stuff, because they pretty much make it super easy for you.

00:35:02.000 Gotcha, okay. 0.97

00:35:03.000 But it's not the platform for, like, a big trader type shit, you know? 0.99

00:35:05.000 Gotcha. 0.98

00:35:06.000 For beginners, basically.

00:35:07.000 Yeah, we want to actually execute our own trades, like, analyze our own trades and that kind of stuff, and, like, you know, that's what we...

00:35:13.000 That's what we do on other platforms versus Robinhood.

00:35:15.000 I feel like it's just, you know, invest here, invest here, like, choose, like, how you plan on investing, aggressive, moderate, like, that kind of stuff.

00:35:22.000 Yeah, it's basically training with training wheels on, but, you know, you're not able to invest the way you really want to with the same level of veracity or, you know, expert, because they're dumbing it down and putting training wheels on you.

00:35:34.000 So if you want to go fast, you can't.

00:35:35.000 Super training wheels.

00:35:36.000 Yeah.

00:35:36.000 Okay.

00:35:37.000 And we do got the chart, by the way, here.

00:35:39.000 We'll pull it up for y'all in a second.

00:35:40.000 Sorry, can you say something?

00:35:41.000 Hold on, go ahead.

00:35:42.000 Oh, okay.

00:35:44.000 We got here, Better Life, 50 bucks goes, Hey, FNF, I just left a delusional woman today. 1.00

00:35:48.000 I showed her the episode with Myron kicking out the 304s for disrupting his girl and watched her agree with the girls. 1.00

00:35:54.000 I felt so disgusted with her. 0.73

00:35:55.000 Thanks for teaching me how to vet these hoes. 1.00

00:35:57.000 Shout out to you, bro.

00:35:58.000 What are y'all thoughts on my Forex fund?

00:36:01.000 It's just unfortunate.

00:36:03.000 Yeah, I think it's an unfortunate situation.

00:36:04.000 What happened?

00:36:05.000 They were basically like an online prop firm, right?

00:36:09.000 And people could go on, you take a challenge, you pay like, call it $1,500 and you can get access to like a $300,000 challenge account, essentially, after passing a verification phase and you can make money under your funded account and then keep a certain percentage of the profits.

00:36:25.000 That company got so large, they ended up getting shut down and a lot of people...

00:36:30.000 We're pending payouts and had funded accounts with them.

00:36:33.000 They had a lot of like this pending money.

00:36:35.000 Yeah, yeah, yeah.

00:36:35.000 Who shot down?

00:36:37.000 The government? 1.00

00:36:37.000 Yeah, but on the back end, they were actually like manipulating shit. 1.00

00:36:41.000 Like they were so big that people would not question anything at all. 0.99

00:36:48.000 You know what I'm saying?

00:36:49.000 Which was kind of bad also.

00:36:50.000 FTX, huh?

00:36:52.000 Literally.

00:36:52.000 It was so big that no one questioned anything.

00:36:54.000 They pretty much trusted that platform to the point that that was one of the biggest prop firms. 0.99

00:36:58.000 And then eventually, when it come down to it, they were fucking everybody. 0.99

00:37:01.000 Wow. 0.99

00:37:02.000 They had a $300 million lawsuit, right?

00:37:07.000 They made $300 million, but then had all of their assets seized.

00:37:11.000 Everything is frozen.

00:37:12.000 They made $300 million.

00:37:13.000 But the dude that pretty much owned it was going crazy.

00:37:15.000 He was buying a Bugatti here, a couple houses here. 0.99

00:37:18.000 He was doing all kinds of shit. 0.99

00:37:20.000 It got caught up. 0.98

00:37:21.000 So there's customers that still didn't get their payouts?

00:37:24.000 No, the company shut down.

00:37:25.000 The CFTC froze their people.

00:37:28.000 If you just bought a program from them the day before that, that money's gone.

00:37:35.000 Wow.

00:37:36.000 All of the assets are frozen.

00:37:38.000 Every single person that had any kind of money within that platform is done.

00:37:42.000 SEC just shut them down. 1.00

00:37:43.000 Wow.

00:37:44.000 Okay. 0.96

00:37:44.000 So it's kind of fucked over a lot of people at the same time. 0.96

00:37:47.000 There's a lot of people that were pending, you know, probably huge payouts, you know, $20,000, $30,000, $40,000 could have changed their lives and, you know, all the assets are frozen.

00:37:54.000 So he can't even pay out the people?

00:37:54.000 Wow.

00:37:56.000 No, nothing.

00:37:57.000 The company's gone.

00:37:58.000 Wow.

00:37:58.000 So what?

00:37:59.000 It doesn't go to say that like, you know, prop firms are bad, but it's just that the fact that that company was, they had bad intentions.

00:38:06.000 Yeah.

00:38:06.000 You know what I'm saying?

00:38:07.000 But prop firms are still good.

00:38:08.000 It's still a great opportunity for people that don't have capital and that kind of stuff.

00:38:11.000 But at the same time, like, you know, that company is that company.

00:38:14.000 It doesn't go for the entire industry.

00:38:15.000 How do you know who to trust?

00:38:17.000 Like, what's a good sign?

00:38:19.000 So, I'm very, very big on having a face.

00:38:21.000 You know what I'm saying?

00:38:22.000 Like, he's the face of his brand.

00:38:26.000 I'm on the faces of all my brand's top tier, Wall Street Academy.

00:38:30.000 Any brand I'm pretty much promoting in some kind of way, I try to be the face of it because I want to know that, like, my rep is on the line in some kind of way.

00:38:37.000 You know what I'm saying?

00:38:38.000 But when you look at it, Like, my Forex fans, like, there was no kind of face towards it.

00:38:42.000 You know what I'm saying?

00:38:43.000 It was a person that pretty much was, like, in a corporate office and that kind of stuff.

00:38:45.000 Like, there was nothing.

00:38:47.000 So, you can't really trust that kind of company, I feel like, because a person can't come out and say, like, yo, I did wrong, blah, blah, blah.

00:38:52.000 Like, this is going on, that, you know?

00:38:54.000 There's no face to the case, basically.

00:38:55.000 There's no face at all.

00:38:56.000 Which kind of, like, messes everything up, I feel like.

00:38:57.000 Because a lot of the things that's going on now...

00:39:00.000 Nowadays, in our niche, we have basis to a business.

00:39:03.000 That makes the person trustworthy in some kind of way based off their previous business.

00:39:07.000 They can see you, everything.

00:39:09.000 What else we got here?

00:39:15.000 I'll finish reading these.

00:39:17.000 Tony goes, what?

00:39:20.000 AQs? 0.90

00:39:21.000 What are Qs and Raul's thoughts on the Candlestick Trading Bible?

00:39:24.000 And also, shout out to Q on this funding program, Top Tier, just past Tier 1.

00:39:28.000 Congrats, congrats.

00:39:29.000 So, the Candlestick Trading Bible, personally, I've never ever read it.

00:39:33.000 The only book that I've probably even read a couple of chapters of is...

00:39:37.000 What was it?

00:39:38.000 Naked Forex?

00:39:39.000 And that's about it, really.

00:39:40.000 I never really read much trading books. 0.95

00:39:43.000 It was more just all experience and shit on actual charts. 0.96

00:39:46.000 You know what I'm saying?

00:39:47.000 One book that I liked the most was probably Trading Like a Casino because it really helped me adopt the finding an edge inside of my trading system and really adopting that probabilities mindset and knowing that I'm not going to win every single trade.

00:39:58.000 That's probably one book I would recommend.

00:40:01.000 Another book would just be a lot of books on trading psychology.

00:40:03.000 To be honest, because to me, reading and understanding price action is a skill that can be developed over time, and so is technical analysis.

00:40:09.000 But you really have to understand the mindset behind trading, because if you don't understand the mindset behind trading, you don't have a risk management system, then essentially you're going to be going in blind.

00:40:18.000 You could just be borderline gambling there as well.

00:40:21.000 I'm still waiting for your books, guys.

00:40:25.000 Eventually, eventually in time, honestly, like when the time is right.

00:40:29.000 Would it be, because I noticed that there's been a lot of comparisons to gambling versus trading during the course of this discussion.

00:40:37.000 Would it be fair to say that the thing that differentiates someone from being a trader versus a gambler is having stop losses in place, education, knowing what the hell you're trading in, understanding the commodity, whatever it may be?

00:40:50.000 So on the most smallest, smallest, smallest, smallest, smallest...

00:40:55.000 It's like it's educated gambling.

00:40:57.000 You know what I'm saying?

00:40:57.000 Like it's knowledgeable gambling in some kind of way because you're playing with money in some kind of way also and money is fluctuating just like how it does on the gambling table.

00:41:04.000 But you have knowledge behind it so technically like your decisions are more calculated more than anything else.

00:41:11.000 So it's not as if like your chances to actually win a trade is 50-50 all the time.

00:41:16.000 Nah.

00:41:17.000 It could easily be 90-10 depending on how good you enter in that kind of stuff and your analysis.

00:41:21.000 There's a phrase in gambling saying the house always wins.

00:41:23.000 Would you say that trading does not abide by that rule?

00:41:27.000 I really don't think so, honestly.

00:41:28.000 No.

00:41:29.000 That's nice.

00:41:30.000 At the most, the broker has their fees and everything that you've got to pretty much pay and swaps and that kind of stuff, of course, because that's the platform.

00:41:37.000 But there's times that I've had a great trading week, a great trading month, and that kind of stuff, and the house didn't take anything technically.

00:41:45.000 It's based on a person.

00:41:46.000 Could you say also that maybe it's a layer of luck involved?

00:41:50.000 I wouldn't say that.

00:41:51.000 It's all skill.

00:41:52.000 Bro, this is a skill game.

00:41:54.000 It's all skill game.

00:41:55.000 A person can definitely learn about trading yesterday and then all of a sudden start, they probably win a trade today, but how much or how long can they win trades?

00:42:03.000 You know what I'm saying?

00:42:03.000 Got it.

00:42:04.000 They could probably win one or two trades and all of a sudden, yo, bro, I got it.

00:42:07.000 No.

00:42:07.000 And then all of a sudden they go on a losing streak.

00:42:09.000 That money that they just won is going to be gone in the next 24 hours.

00:42:12.000 Guaranteed.

00:42:13.000 The thing about trading is it's very different and everyone is going to find success very differently in trading.

00:42:18.000 There's people that could probably lose money for the first five years in a row but then on their sixth year they hit profitability and they make all of the losses from The previous five years back.

00:42:30.000 Like for one example, my grandpa was teaching him to learn how to actually trade.

00:42:33.000 He started three years ago and he lost for the first two years.

00:42:36.000 And this year alone, he's made all of that money back plus an extra net $30,000 in profit that he's realizing this year.

00:42:43.000 And he's an older guy.

00:42:44.000 He's in his 70s, but he was able to capitalize off of that.

00:42:47.000 So everyone, when it comes to a trading journey, it's going to be very different.

00:42:51.000 Just, I guess, as a learning lesson for the audience here, what were some of the mistakes that your uncle made in those two years that had him losing?

00:42:59.000 My grandpa, I'm sorry.

00:43:01.000 I mean, it really just came down to just being a newer trader, understanding what trading actually is, really adopting that probabilities mindset, finding his trading system, his risk management system as well.

00:43:11.000 It's going through the trial and error process.

00:43:12.000 But the most important thing that I told him from the beginning is you need to have a tight risk management system and how you want to define your risk.

00:43:19.000 Because if not, then a lot of the times it could be, you know, you're just kind of gambling and understand why you're taking these trades.

00:43:24.000 Is the probability in your favor?

00:43:26.000 Does your trading system have an edge?

00:43:27.000 And then you move forward from there.

00:43:29.000 Because if you can't tell me what your edge in the market is, if you can't tell me what your trading system is, if you can't tell me this is why I'm getting out here, if I'm right, this is why I'm getting out here, if I'm wrong, then a lot of the times it's like you're going in blank and you don't know what you're doing and you're going to, there's a higher chance of you to lose money.

00:43:43.000 I don't want to say there's like a higher chance of you making money, but at the same time, it all It has to be very planned and systematic.

00:43:50.000 Of course.

00:43:51.000 Which is then, going back to what you said previously, it's like, you know what, there's a spectrum between gambling and trading.

00:43:56.000 There's a huge spectrum and a huge differentiation between gambling and trading.

00:44:01.000 If you tell me you're somebody that you open up a price action chart and you deposit it into a brokerage and you see price going up and you decide to take a buy because price is going up, I'm going to tell you, you're gambling.

00:44:09.000 You have no reason as to why you're looking to take a position here and you're looking to take that buy position other than that you saw price action is going up.

00:44:18.000 Versus if you tell me, hey Raul, I decided to take this position because XYZ reason.

00:44:22.000 I decided to place my stop loss here with this much risk.

00:44:25.000 And then I decided to take profit over here with a 2R plus multiple.

00:44:29.000 Then I'm going to tell you, okay, that looks solid.

00:44:31.000 It's calculated.

00:44:32.000 You know?

00:44:32.000 It's calculated.

00:44:33.000 Remember, the biggest thing with trading I feel like is staying in the game.

00:44:36.000 You know what I'm saying?

00:44:37.000 100%.

00:44:37.000 If you don't have any kind of risk management, I feel like you're not going to be in the game long.

00:44:42.000 So you've got to be open with taking those losses and everything.

00:44:44.000 If the trade goes bad, the trade goes bad, whatever.

00:44:46.000 But the biggest thing is trying to stay in the game as long as possible.

00:44:50.000 And not taking a risk that could actually take you out the game.

00:44:53.000 You know?

00:44:53.000 To blow your account and that kind of thing.

00:44:54.000 You know what?

00:44:55.000 I can tell people, see from you guys, they see the success.

00:44:58.000 Well, bring it in their Instagrams real quick.

00:45:00.000 They see the cars, the life, the success.

00:45:02.000 They say, you know what?

00:45:03.000 If I trade two, I can believe them in a short period of time.

00:45:06.000 So, look.

00:45:06.000 So, the biggest misconception with all that is that, like, you guys see the cars.

00:45:10.000 Yeah, but remember, like, I mean, I've always said, like, I've been into cars since I was four years old.

00:45:14.000 Yeah, me too. 0.72

00:45:15.000 Like, what the fuck do you expect me to do when I have money to buy the cars? 0.98

00:45:18.000 You know what I'm saying? 0.97

00:45:19.000 I played car video games, and my garage on these car video games is not just one car.

00:45:25.000 You know what I'm saying?

00:45:26.000 Like, I have tons of cars.

00:45:27.000 Same.

00:45:27.000 In GTA, I had a whole lineup.

00:45:29.000 So why would I not want to do that in real life if I have the ability to do so?

00:45:32.000 Of course.

00:45:32.000 It doesn't make sense.

00:45:33.000 That's another reason why I got into trading, too.

00:45:35.000 It's to fund my hobby, which is cars.

00:45:38.000 Because, like...

00:45:38.000 I feel like there's a big difference between having a passion for something and then obviously just wanting to flex.

00:45:43.000 For me, I've always loved cars.

00:45:45.000 I used to race go-karts when I was a kid.

00:45:47.000 And I've always wanted the cars that, you know, I liked.

00:45:50.000 And to me, you know, my cars is my passion, which is why I have so many cars.

00:45:53.000 I don't just have one super nice car and then one regular car.

00:45:56.000 So I could flex a super nice car.

00:45:57.000 So I'm genuinely passionate about cars.

00:45:59.000 And now that I'm in a position, a very blessed position, where I'm doing very well for myself and I can afford these...

00:46:05.000 Accomplishments, goals, however you want to call them, I'm going to do it.

00:46:08.000 And look, so the biggest thing is people judge how we spend money.

00:46:12.000 You know what I'm saying?

00:46:12.000 If Fresh spends money way differently than Myron spends money.

00:46:15.000 You know what I'm saying?

00:46:16.000 Two different worlds.

00:46:17.000 But it's the same concept, though.

00:46:18.000 You know what I'm saying?

00:46:18.000 So people that pretty much hate on how we actually spend our money, it's because they would have probably spent the money differently.

00:46:24.000 Or they want to invest in real estate.

00:46:26.000 They want to flex.

00:46:27.000 It just depends on the person.

00:46:29.000 I think I'm barely even fully leveraging what I'm able to do to the full ability.

00:46:36.000 But at the same time, I get to a point in my life that I fund what I'm passionate about.

00:46:42.000 I'm actually funding my lifestyle based on what I'm actually interested in.

00:46:46.000 Versus if a person that pretty much gets to a certain point, and they have the money to do everything that they always spoke about, but they get to a point that they don't even do it because what other people would think of how they spend the money. 0.99

00:46:57.000 Fuck everybody else. 0.99

00:46:59.000 Spend the money. 1.00

00:47:00.000 Spend the money however you want to spend your money.

00:47:02.000 You made the money, so spend it however you want to spend it.

00:47:04.000 Yeah, because I mean, what's the point of making so much money if you can't even enjoy it?

00:47:07.000 That's what I'm saying.

00:47:08.000 You're going to die anyway.

00:47:08.000 Life is about experiences.

00:47:11.000 Everybody got the same stop loss. 0.99

00:47:13.000 And listen, I'm going to live this shit up for the meantime. 0.99

00:47:15.000 You know what I'm saying? 0.99

00:47:16.000 So that's what it is.

00:47:17.000 So speaking of cars, I got to ask a question.

00:47:19.000 How many cars have you had from the very beginning till now?

00:47:22.000 And then your top two cars you would like to drive are the best cars you would say.

00:47:27.000 How many cars you've had and what have you had?

00:47:29.000 So, I mean, the cars that I've got rid of was in total cars from the start.

00:47:33.000 Yeah, from the start.

00:47:34.000 Probably about a good 17 cars, I would say. 1.00

00:47:37.000 Damn! 0.99

00:47:37.000 But now I only have like nine cars and four supercars. 0.99

00:47:41.000 What are they?

00:47:42.000 Well, what?

00:47:43.000 All the nine cars?

00:47:44.000 Yeah, if you remember, because you might forget.

00:47:45.000 Oh, yeah.

00:47:46.000 I did this yesterday, actually.

00:47:47.000 My 1998 Toyota Supra MK4, my 99 Nissan Scala R34, my Ferrari A12 in Largo, my Ferrari Pista, my Lamborghini SV, my Lamborghini SVJ 6.3, my Escalade,

00:48:03.000 my G-Wagon, my M3, and my truck that I have.

00:48:09.000 Yeah.

00:48:10.000 I'm good.

00:48:11.000 Okay, and top two favorite cars.

00:48:13.000 Top two, Pista.

00:48:15.000 Pista and SBJ, bro.

00:48:17.000 You're talking about a car that pretty much does everything, which is the Pista.

00:48:21.000 Like, it's the most fun car, I personally think.

00:48:24.000 And then you have the SVJ, which is pretty much just like a very obnoxious car.

00:48:27.000 You know what I'm saying?

00:48:28.000 It's very just out there.

00:48:29.000 Yeah, it's crazy.

00:48:29.000 100%.

00:48:30.000 And you're very loud.

00:48:31.000 Yes.

00:48:32.000 And he has the same car, so I'm pretty sure he would definitely be on the same track. 0.98

00:48:35.000 Fuck, I mean, over the course of time, I've definitely had a lot of cars. 0.98

00:48:40.000 I mean, just in like McLaren's alone, I've owned three 600LTs. 1.00

00:48:46.000 So, I was...

00:48:48.000 Wait, what?

00:48:48.000 Yeah, yeah, yeah.

00:48:49.000 Three 600LTs.

00:48:50.000 You can't make up his mind.

00:48:51.000 Yeah, no, no, no.

00:48:52.000 What the...

00:48:52.000 Yeah, yeah, yeah.

00:48:53.000 So like, the thing about a lot of cars too, I've seen them as opportunities.

00:48:57.000 So some cars I would get in and then I would sell really quick to either break even or I make money on top.

00:49:03.000 Which is smart.

00:49:04.000 I mean, in total, bro, I've probably had over like 30 cars that were mine. 0.99

00:49:09.000 Damn. 0.99

00:49:09.000 That were mine. 0.99

00:49:10.000 And then...

00:49:11.000 Top two?

00:49:12.000 I mean, what I have...

00:49:13.000 Top two, yeah.

00:49:14.000 My top two.

00:49:14.000 I mean, what I have right now too is...

00:49:16.000 I have an SVJ. I have a Pista.

00:49:19.000 Juris Perfamante, Rolls Royce Cullinan, and then I bought my wife a G-Wagon.

00:49:24.000 My top two is also Pista and SVJ, which is why I bought it.

00:49:27.000 This is my second time also owning a Pista, too.

00:49:30.000 I'm telling you, bro, it was mine.

00:49:31.000 He gave the version of you to Spanish.

00:49:33.000 That's it.

00:49:33.000 He gave it to the same, bro.

00:49:34.000 What the fuck? 0.99

00:49:35.000 I think that we're pretty much doing it for pretty much every single category. 1.00

00:49:39.000 I'm doing it for the people that's black.

00:49:42.000 That's Hispanic. 0.98

00:49:43.000 That's what it is.

00:49:43.000 But at the same time, I feel like we're pushing our people in some kind of way as well.

00:49:47.000 You know what I'm saying?

00:49:47.000 And showing that there's ways out.

00:49:49.000 You know what I'm saying?

00:49:49.000 See, I'm not a traitor.

00:49:50.000 You guys inspired me to want to live my lifestyle.

00:49:53.000 And it's kind of like, yes, you should obviously invest your money, but it's like, yo, when you're a kid, you have dreams you want to fulfill, and it's like, why not do it?

00:50:00.000 Why are you still living?

00:50:00.000 People are scared, bro.

00:50:02.000 That's the thing.

00:50:03.000 I feel like it's the fact that we're actually living out the things that we've always dreamed about ever since we were a kid, and we're doing well.

00:50:10.000 You know what I'm saying?

00:50:10.000 And not fully leveraging what we could do.

00:50:13.000 And we're still managing with everything.

00:50:15.000 And mind you, like, the cars that y'all see now and that kind of stuff, it's not like it's gonna be a rental and that kind of stuff.

00:50:19.000 It's like, I see the comments and everything.

00:50:21.000 People always hate me.

00:50:21.000 Yeah, yeah.

00:50:22.000 But, mind you, despite me showing...

00:50:25.000 Can you even rent those cars?

00:50:26.000 No, no, no, no.

00:50:27.000 Despite me...

00:50:28.000 Can't rent those cars.

00:50:29.000 Despite me even showing a folder full of titles, it doesn't...

00:50:32.000 Like I said, it doesn't matter, bro.

00:50:34.000 Yeah.

00:50:34.000 People always have...

00:50:35.000 Bro, I've even posted on my story so many times.

00:50:37.000 You can even fix a problem that people complain about.

00:50:39.000 They're still gonna complain.

00:50:40.000 Bro, fresh, you understand, bro.

00:50:42.000 There was one day, I remember I went on my Instagram story, and I grabbed each one of my registrations off my cars, and I grabbed my Amex, and it shows my company name, and on the registration of the cars, it shows the exact same company name that's under my name, and it's like, nah, still renting.

00:50:57.000 It's like, okay, cool, yeah, I'm renting an SVJ that I've had over a year.

00:51:00.000 I'm paying $30,000 a month for an SVJ. It's ridiculous, bro. 0.97

00:51:03.000 If you were supposed to rent These cars, technically you're paying more money. 0.97

00:51:06.000 That's what I'm saying.

00:51:08.000 This is very true. 0.98

00:51:09.000 It's ridiculous. 0.97

00:51:10.000 Yeah, yeah, yeah. 0.93

00:51:14.000 First, you can't rent these cars.

00:51:16.000 And secondly, if you do rent them, it'd be way more.

00:51:19.000 A lot of the times, you can rent the entry-level supercar.

00:51:22.000 You know, but when you're talking about SVJ, when you're talking about Pista, Mike Cullinan has my name engraved on the card.

00:51:28.000 It literally says, Raul Gonzalez, handcrafted in England.

00:51:33.000 And it took me two years to get that card.

00:51:35.000 I waited two years for it to be built and delivered.

00:51:38.000 I just realized, bro, when you live a lifestyle that people want to have, but they don't have it, they do hate on you, and they project their hate and all their inadequacies onto you.

00:51:45.000 And it's crazy because if you can face all the problems that they have with you, it will never be enough.

00:51:49.000 Never.

00:51:50.000 But that's why, like I said, we do our part in the community at least to say, you know what?

00:51:55.000 We're giving our value back in some kind of way.

00:51:57.000 If you want to take it, you take it.

00:51:58.000 Cool.

00:51:59.000 But you can't say that I'm over here balling and not giving out any kind of tips.

00:52:03.000 Right.

00:52:03.000 You know what I'm saying?

00:52:04.000 We're giving out a lot of tips each and every single day on YouTube and Instagram and that kind of stuff.

00:52:07.000 So while we're living, we don't feel guilty of living like how we want to live based on we know that we give our value.

00:52:14.000 Exactly.

00:52:14.000 Bro, I get DMs all the time of literally saying, Yo, Ro, thank you so much, bro.

00:52:18.000 You've literally changed my life.

00:52:19.000 I just got funded and I ended up getting my first $20,000 payout.

00:52:23.000 It's like, from the education I provide, this individual made $20,000.

00:52:27.000 That's just one of hundreds.

00:52:29.000 That's life-changing.

00:52:29.000 That I've received.

00:52:30.000 It is.

00:52:31.000 It is.

00:52:31.000 Just like my student, bro.

00:52:32.000 I actually had one student recently.

00:52:34.000 This was back in...

00:52:35.000 March, who he sent me a DM. Random one day.

00:52:38.000 He's quiet.

00:52:39.000 Right?

00:52:39.000 Never seen him in the chat.

00:52:40.000 Never talked to my Discord before.

00:52:42.000 It just smacks everybody with a $54,000 payout.

00:52:45.000 This is a college student, bro.

00:52:46.000 22 year old.

00:52:47.000 $54,000 in a month.

00:52:49.000 That's life changing money.

00:52:50.000 In college?

00:52:51.000 Oh yeah, that's life changing.

00:52:51.000 And you're talking about this as an individual who at the end of the day, put in the work.

00:52:55.000 And again, like people can look at it two ways.

00:52:56.000 It's like, oh no, that guy's payout was fake.

00:52:58.000 You know, this is not blah, blah, blah.

00:53:00.000 But then that's just their own insecurities of them trying to project on that individual because he was able to do it and he might be younger than you.

00:53:06.000 He might be older than you, but he was able to do it.

00:53:08.000 And maybe some individual still hasn't done it yet, you know?

00:53:11.000 And then the question is, what's your excuse?

00:53:13.000 But they don't have any.

00:53:14.000 That's valid.

00:53:15.000 They always say that they don't have time, but listen, we all got the same 24 hours, so hey, it's how you use it.

00:53:20.000 It's your 24 hours.

00:53:21.000 You know what I'm saying?

00:53:22.000 You choose how you use your 24 hours.

00:53:23.000 Big facts.

00:53:24.000 We've got some more here, and then Rumble as well. 0.92

00:53:26.000 Okay, and then from this point forward, we'll go, what, 20 and up?

00:53:30.000 20 and up.

00:53:30.000 Alright, so I'll read these ones that came in before.

00:53:33.000 Okay, words of Rizdom goes, big shout out to Raul and Q, setting the bar high in the industry.

00:53:40.000 I just did a podcast with him too.

00:53:48.000 TradeBeginner goes, which broker do you guys suggest?

00:53:50.000 I tried Athens Market for a few months, but I was thinking of trying someone different through TradingView.

00:53:55.000 That's perfectly fine as well.

00:53:57.000 There's a lot of great brokers on trading people, so it really just depends on what you're trying to trade, to be honest with you.

00:54:02.000 Okay.

00:54:04.000 And then we got JC Garcia, taxes for full-time day trader.

00:54:08.000 How do you do an LLC? That's a good question.

00:54:10.000 Well, it's a bit more complex than that, but I feel like, yeah, definitely have a business account, because as you're withdrawing your profits, that could be considered as business income.

00:54:19.000 Trading is a business.

00:54:20.000 You can invest into different trading software such as trading journals that there's a monthly subscription for.

00:54:25.000 Your office setup is also all a write-off as well.

00:54:28.000 And depending on if you trade...

00:54:29.000 And the cars too.

00:54:31.000 That's different.

00:54:32.000 Not really.

00:54:33.000 Not like trading specific.

00:54:34.000 Okay, okay.

00:54:34.000 Separate.

00:54:36.000 And yeah, some trading taxes are all taxed differently.

00:54:38.000 If you trade Forex or Futures, you get taxed at a 60-40 split as well.

00:54:43.000 You can use it for marketing?

00:54:44.000 Or no?

00:54:45.000 What?

00:54:45.000 The car?

00:54:46.000 Depends.

00:54:47.000 Well, it depends on what car.

00:54:49.000 For example, my G-Wagon is in my business name because I actually drive that car every single day.

00:54:53.000 So technically, that's the business expense.

00:54:54.000 You know what I'm saying?

00:54:55.000 Okay.

00:54:55.000 Certain cars, like my Lambo and everything, definitely not, I feel like.

00:54:58.000 It's going to be like a no-brainer.

00:55:00.000 It's a sketchy situation.

00:55:02.000 It's very, very sketchy, but I feel like It is possible to do certain things, but not every single car qualifies.

00:55:07.000 But you buy your cars in cash, right?

00:55:09.000 Majority of my cars.

00:55:11.000 That's why I have a lot of titles.

00:55:13.000 You know what I'm saying?

00:55:13.000 Personally, because I feel like if you're trying to buy a car that costs a million dollars and that kind of stuff, if you can't even put down at least 50% of the car or even pay it off, then wait it out.

00:55:23.000 Because the worst thing that you can do for a supercar is to have a big-ass bill every single month.

00:55:29.000 That's a headache.

00:55:30.000 You know what I'm saying?

00:55:31.000 20k for a car.

00:55:32.000 What? 1.00

00:55:33.000 That's a lot of fucking money. 1.00

00:55:34.000 That's crazy. 1.00

00:55:35.000 Versus $2,000 or $3,000.

00:55:36.000 That's cool.

00:55:36.000 That's light work.

00:55:37.000 You know what I'm saying?

00:55:38.000 It's doable.

00:55:38.000 Yeah, it's doable.

00:55:39.000 Definitely.

00:55:39.000 Okay.

00:55:40.000 All right.

00:55:41.000 Let's see here.

00:55:42.000 We got Tony goes, opinion on student loans.

00:55:46.000 Do you guys think it's a smart move if I go into debt to get a degree that is really in demand and pays really well?

00:55:51.000 Six figures in the medical field.

00:55:52.000 I live cheap and I'm really disciplined with money.

00:55:56.000 Could pay it off fast.

00:55:58.000 Well, I feel like this right here.

00:55:59.000 Like, I was going into the medical field at one point in time also.

00:56:04.000 You want to be a doctor, bro?

00:56:05.000 No, a nurse, actually.

00:56:07.000 Oh, shoot.

00:56:07.000 Yeah, and then I was going for a physical therapy assistant and that kind of stuff also.

00:56:12.000 Before I said, F it, you know.

00:56:15.000 So, the thing with that is that I feel like there's too many opportunities out here nowadays to then, you know, spend four or five years or six years into, like, a field that only makes six figures, that you're going to be pretty much working probably 70% of the time anyways.

00:56:27.000 You know what I'm saying?

00:56:28.000 Versus actually trying to take advantage of, like, you know, a program or, like, you know, a trade in some kind of way to actually make those same six figures in a short amount of time.

00:56:35.000 I'd rather nowadays pay for a course and learn the skill than go to school and spend four years, bro.

00:56:40.000 The courses are still underrated.

00:56:42.000 It's crazy to me.

00:56:43.000 Like, you're learning something that took the person that pretty much is teaching it in a couple of months at times.

00:56:48.000 You know what I'm saying?

00:56:49.000 Yeah.

00:56:49.000 So, I mean, yeah.

00:56:50.000 Like, people...

00:56:51.000 Honorate courses based on who is selling the course. 0.53

00:56:53.000 The fact that people honorate, even me, because I don't look like a professor, but have a shit ton of fucking knowledge, and I made a shit ton of money, but also I made other students make a shit ton of money as well. 0.55

00:57:03.000 You know what I'm saying? 0.88

00:57:04.000 People don't even look at that aspect of things.

00:57:06.000 So they judge the person on how their appearance is to see if they can learn from that person based on how that person looks, which doesn't make any kind of sense, because they can have all the knowledge inside the world and everything.

00:57:16.000 It's true.

00:57:17.000 Yeah.

00:57:18.000 We got...

00:57:18.000 What else we got here?

00:57:19.000 Okay.

00:57:21.000 Kai is the guy.

00:57:22.000 As knowing Raul directly, he is definitely one of the best traders in the game.

00:57:25.000 I lost my job back in 2019, and he paid my bills for six months, helping me get back on my feet.

00:57:29.000 Don't ever sleep on him.

00:57:30.000 All love, bro.

00:57:31.000 KY, keep going.

00:57:32.000 Oh, wow.

00:57:32.000 I haven't heard from you in a while.

00:57:33.000 Love. 1.00

00:57:34.000 Shit. 1.00

00:57:34.000 Shout out to you, bro. 1.00

00:57:36.000 Elnawa goes, Raul and Q are my boys.

00:57:39.000 Love to see two legends coexist.

00:57:40.000 Yeah, absolutely.

00:57:41.000 Dude, when I saw you guys take a picture together, I was like, yo, I need you two on the podcast, because that's legendary, bro.

00:57:46.000 I mean, like, I see him every now and again.

00:57:48.000 Like, he just busy.

00:57:49.000 But I don't see you guys, like, together like that, though.

00:57:52.000 You feel me?

00:57:53.000 Like, you guys be doing your thing.

00:57:54.000 Yeah, because I remember, like, he got his thing going on.

00:57:55.000 Like, I got a bunch of companies and everything I'm trying to run.

00:57:57.000 So I feel like we're both busy.

00:57:59.000 But when we get caught up, it's all love, of course.

00:58:01.000 You know what I'm saying?

00:58:01.000 Like, it's never every beef.

00:58:02.000 But people just see it that way on Instagram because they just want to make something that's not really anything.

00:58:07.000 You know what I'm saying? 0.96

00:58:08.000 They try to start a bit of crap between you two. 0.97

00:58:10.000 Sometimes you're a little bored, you know? 0.99

00:58:11.000 Wow.

00:58:12.000 But I feel like in trading especially, you guys are like brands and like people don't understand that you're your own brand.

00:58:17.000 So it's kind of like, you know.

00:58:18.000 Yeah, the name itself is the brand, but also like, you know, whatever company that we come out with, like our name is behind it as well.

00:58:25.000 So like our name holds weight to whatever we even touch.

00:58:27.000 Right.

00:58:27.000 You know what I'm saying?

00:58:28.000 Like any kind of brand, like his brands and that kind of stuff.

00:58:31.000 If he opens up a brand new brand, like right now, like it's going to push based on who he is.

00:58:36.000 Who he is.

00:58:36.000 You know what I'm saying?

00:58:37.000 So like that's, it's very important to actually just keep like a good face.

00:58:40.000 That's true.

00:58:41.000 Fair enough.

00:58:42.000 And then we got here, JBX goes, we are both your guys' main confirmations you guys look for before taking a trade.

00:58:50.000 Okay, what are both your guys' main confirmations you guys look for before taking a trade?

00:58:53.000 I've been trading for two years now.

00:58:55.000 Big fan of you guys.

00:58:56.000 Well, for me, I'll say that I try to actually hit at least three or four confirmations depending on what type of setup I'm actually trying to look for.

00:59:05.000 What is the confirmation?

00:59:05.000 It's like certain things that you have to actually see before you even say, I want to execute that trade at that point in price.

00:59:11.000 Yeah, sure.

00:59:11.000 It's all part of your trading plan, your trading system.

00:59:13.000 Yeah, so like, I mean, I'm looking at my time from correlation.

00:59:15.000 I'm looking at how, like, my candlestick looks.

00:59:17.000 I'm looking at how, even like how much volume is in that overall area of the market, if it's in a consolidation zone or not.

00:59:24.000 It's a few things, you know what I'm saying?

00:59:25.000 But it depends on the kind of setup, because I feel like, you know, every single setup that I do take inside a market is case by case.

00:59:30.000 It's never the same thing.

00:59:31.000 Yeah, it's never the same.

00:59:31.000 Okay, so the difference.

00:59:32.000 It's like a similar workflow, but...

00:59:34.000 Different setups, I use different tools at different times.

00:59:37.000 So, I mean, it's always at least, like, three confirmations, so I feel comfortable with even taking that kind of trade, knowing that it's a high chance that I'm going to win that trade.

00:59:45.000 And that makes it not gambling, because you're taking calculated risks off of what you confirm.

00:59:49.000 Yeah, so it's not like I see one confirmation, and then all of a sudden, I'm good.

00:59:53.000 No, I need at least a couple, so it lines up and everything enough to say, you know, I'm confident on that surrender trade.

00:59:58.000 Yeah.

00:59:59.000 I mean- That's what differentiates it from gambling.

01:00:01.000 Exactly.

01:00:01.000 Yeah, yeah, for sure.

01:00:02.000 I mean, everyone's going to go about their way in how they trade very differently.

01:00:05.000 I mean, for me personally, it's like a combination of everything.

01:00:08.000 It's not just like one or two confirmations that I need to see before I'm like, okay, I'm taking this position.

01:00:13.000 It's like, okay, well, after doing my entire analysis, then it's like, okay, now I need to analyze the risk.

01:00:17.000 What's the potential risk on this trade if I do lose money?

01:00:20.000 And what's the potential reward?

01:00:22.000 It's like, okay, you know, I'm not going to go into a position risking $20,000 to only make 10 or $5,000, you know what I'm saying?

01:00:27.000 I'm going to go into a position risking $20,000 to try and make at least $40,000.

01:00:32.000 That's like the overall objective and goal.

01:00:33.000 But the thing about trading is that like price action trading is never going to be perfect.

01:00:37.000 You know, you can go in with like a $20,000 risk, maybe pull out 15 just because price action came all the way back and hit a trailing stop loss.

01:00:44.000 When it comes to my confirmations, you have your planned risk-reward ratio, and then you have your actual risk-reward ratio, which depending on your win rate will determine your profitability and the longevity or not.

01:00:56.000 When it comes down to my price action confirmations, it really has to do with a lot of things.

01:01:00.000 It has to do with supply and demand, the actual price action candlesticks themselves.

01:01:03.000 Is price acting rejecting an area of that supply and demand level?

01:01:07.000 Is price action trending, consolidating?

01:01:09.000 It's a ton of different concepts that I need to put together in that specific situation because day after day, the situation changes. 0.56

01:01:15.000 I do wish that we could have had a computer up here and then get on some charts and shit.

01:01:20.000 You know what I'm saying? 0.95

01:01:20.000 We got one ready here. 0.95

01:01:23.000 His setup. 0.98

01:01:24.000 We know like a trading view chart and all of a sudden do some shit, but that would have been cool. 0.92

01:01:29.000 Yeah, but this is the platform that we mainly analyze on. 0.94

01:01:33.000 Okay.

01:01:33.000 For the main fact that it's great with data, it looks very, very clean, and it offers all the assets that we do trade normally.

01:01:42.000 So, what am I looking at here?

01:01:43.000 Right now, you're looking at USDJPY on the daily time frame.

01:01:48.000 At this point in time, the market is a bit more bullish on USDJPY. It still has a level of resistance that's coming up within the next...

01:01:55.000 I can't really see what it says.

01:01:57.000 I can't read the price.

01:01:58.000 I can't read the price, but it pretty much has a resistance pretty much, you know, not too far away from where it currently is, like right now, but it's still mainly on an uptrend at this point in time.

01:02:06.000 Yeah. 0.99

01:02:06.000 Shit. 0.99

01:02:07.000 Yeah. 1.00

01:02:07.000 I mean, I could go on all day about this, but no, I need, you know. 1.00

01:02:10.000 I see gold, silver.

01:02:11.000 It'd be better if the computer was right here.

01:02:12.000 Yeah, I need, like, right now and then. 0.98

01:02:14.000 I could do some shit, but I can't do anything. 0.99

01:02:15.000 Okay. 0.99

01:02:16.000 All right.

01:02:16.000 Yeah, that's our, this is, like, our, probably, most of the day.

01:02:21.000 It's a charting platform.

01:02:22.000 You're on this most of the day?

01:02:24.000 Yeah.

01:02:25.000 Take us through a day...

01:02:26.000 Sorry.

01:02:27.000 I was gonna ask...

01:02:28.000 I mean, we're big critics of the mainstream media.

01:02:31.000 We think, you know, obviously there's a bunch of fake news on there.

01:02:33.000 But it seems to me that the mainstream media plays a big role in this.

01:02:39.000 How often are you guys watching the news?

01:02:41.000 Well, see, like, I'm learning fundamentals.

01:02:43.000 I'm more of a technical trader, which means that I don't really read...

01:02:46.000 Fundamental analysis is too much, which means economic news and that kind of stuff.

01:02:49.000 I don't really touch on economic news too much, but I'm very, very good at my technicals.

01:02:53.000 So technicals meaning I'm drawing on the charts to pretty much pinpoint certain areas of support or resistance and that kind of stuff to then anticipate my next move in the market.

01:03:04.000 That's how I trade.

01:03:05.000 Is that more expert level stuff that you don't need to watch the news and you just kind of know?

01:03:09.000 Not necessarily.

01:03:10.000 I mean, there's different types of trading.

01:03:11.000 You have people that trade solely based off of fundamental analysis.

01:03:14.000 You have people that trade solely based off of technical analysis.

01:03:16.000 You have people who combine the both that trade based off of fundamentals and technical analysis.

01:03:21.000 Fundamentals of the news?

01:03:22.000 Yeah, fundamentals is basically all types of economic data and world events.

01:03:25.000 Yeah, but the bad thing about the only fundamental news is that they don't really understand a good entry opportunity and that kind of stuff.

01:03:31.000 Because they're looking at the more broader perspective of the charts.

01:03:34.000 Daily time frame, the weekly...

01:03:37.000 They're looking all the way out here versus me.

01:03:39.000 I'm pretty much on the charts.

01:03:41.000 I'm on the lower time frame seeing a bit more data movements.

01:03:44.000 Gotcha.

01:03:44.000 So I have a better chance of having a trade that sees a bit less drawdown than that person that's pretty much zoomed all the way outside.

01:03:51.000 Gotcha.

01:03:51.000 Because they're more focused on...

01:03:54.000 What might take months to actually play out.

01:03:56.000 I'm more focused on what might play out in the next four hours.

01:03:59.000 Gotcha.

01:03:59.000 A day or two days.

01:04:00.000 Because you're looking at it from a nuanced micro level, so you're able to really get into the details and see what the hell's going on and really analyze.

01:04:06.000 There's a saying that says, you know, Have your bias based on fundamentals, but have your technicals or your entries based on technicals, which means that you're a bit more in tune with what is considered as a good entry and that kind of stuff based on getting a better risk to reward versus the person that's pretty much doing a fundamental standpoint.

01:04:25.000 They probably don't even use a bigger lot size and that kind of stuff based on how much fluctuation might happen before that news might play out eventually.

01:04:32.000 With me, I could actually up my leverage or up my lot size and that kind of stuff a bit more because I'm more on the charts.

01:04:40.000 You do the work on the front end so you can take the risk on the back end because you know what you're doing.

01:04:44.000 Correct, yeah.

01:04:45.000 Because you know the intricate details.

01:04:46.000 You've looked at the patterns.

01:04:47.000 Okay, I'm very confident at this because I understand the nuances.

01:04:49.000 I understand this pairing to a significant degree so I can go ahead and make decisions based on my knowledge versus relying on mainstream media or whatever.

01:04:57.000 Keep in mind, if I learn fundamentals like how I aspire to learn it eventually, then I'll be a lot better.

01:05:04.000 But at the same time, what is working for me has been working for me for years and years and years and years.

01:05:09.000 So I'm not in a rush to learn something that's going to benefit me right now because I'm doing pretty well at what I do.

01:05:15.000 It also depends too.

01:05:16.000 It also depends on your trading system because if you're like a longer term trader where you're holding trades for days on days and weeks on weeks, then you're gonna have to be in tune with fundamental analysis versus someone like me where I'm looking to get in an hour of the market within the same hour, two hours, you know what I mean?

01:05:31.000 No, scalping is within minutes.

01:05:33.000 Yeah, that's a bit different.

01:05:36.000 I'm looking to get out pretty much within like the first three hours of that trading session.

01:05:40.000 Some scalpers take like 10 trades an hour at a time.

01:05:42.000 It's crazy.

01:05:43.000 But their risk is pretty big also.

01:05:46.000 Let's say Elon Musk was like to say today, hey, you know what?

01:05:48.000 Today I'm going to trade this option.

01:05:51.000 Would that affect the market?

01:05:53.000 It depends on what though.

01:05:55.000 As far as an index and that kind of stuff, not really I feel like.

01:05:57.000 But if it's like a crypto, they had those coins and that kind of stuff, yes.

01:06:01.000 It'll affect that in some kind of way.

01:06:03.000 Unless he's talking about something like Tesla where it's like major.

01:06:06.000 On stocks.

01:06:07.000 But it's not going to really affect the majority of the markets for the most part.

01:06:12.000 He's powerful, yes, but I don't think that he could actually affect the majority of the markets.

01:06:15.000 Something that would be more relevant to basically what you were saying would be like if Jerome Powell were to be coming out and he would be on a speech, depending on the type of tone he's giving, if he's giving like a hawkish or a dovish tone, it will definitely determine on, you know, you'll literally see it on the charts.

01:06:28.000 Charts will absolutely go crazy.

01:06:30.000 It gets affected immediately.

01:06:31.000 Yeah, right away.

01:06:31.000 Yeah.

01:06:32.000 Every time the Fed has a meeting and raises interest rates, it affects the markets.

01:06:35.000 Oh, for sure.

01:06:36.000 So us traders, we look forward to those kind of news events because it gives us a chance to make big money very, very quickly.

01:06:41.000 When that data comes out, especially if there's a big difference between the expectation versus the actual data that actually comes out with CPI and inflation, there'll be huge moves in the markets.

01:06:51.000 I mean, some days the markets will have a crazy move up and then a crazy move back down.

01:06:56.000 Those are the days where there's a lot of Yeah.

01:07:17.000 Of the size.

01:07:17.000 Versus going in on a regular day, I'll probably go in with a little bit more size because there's not as much volatility as when you see when the feds actually have a meeting or when CPI does come out.

01:07:25.000 Okay.

01:07:26.000 Yeah, like, for example, there are certain times that, like, let's say the market moves, let's say 1,000 pips in one day, and all of a sudden the next day it drops again.

01:07:33.000 And then all of a sudden now it's all the way back up here.

01:07:36.000 That's the kind of movement that you could probably see with interest rates and that kind of stuff.

01:07:39.000 It'll go up.

01:07:41.000 Go back down to where it started from and then pretty much go all the way back up.

01:07:44.000 Are you trading on days where the Fed is increasing rates?

01:07:47.000 I feel like I'm trading...

01:07:49.000 Or are you kind of like him where you trade on normal days?

01:07:51.000 So I know what days I have to watch out for.

01:07:55.000 But majority of the time, I'm trading like right now.

01:07:57.000 You know what I'm saying?

01:07:57.000 But certain days, I know what to look out for.

01:08:00.000 FOMC, NFP, CPI. I know those big news events that I have to make sure that I'm in tune with because I don't want to get slapped up out of nowhere.

01:08:08.000 You know?

01:08:09.000 That kind of thing.

01:08:11.000 All right.

01:08:11.000 But it gives us an opportunity to actually make money, though, which is cool.

01:08:14.000 And let's say you decide to trade on one of these days where they're hiking interest rates or the Fed is having a meeting.

01:08:19.000 I'm assuming you're looking at the charts all day and you're glued to your phone?

01:08:21.000 Yes.

01:08:22.000 That day?

01:08:22.000 Yes, definitely.

01:08:24.000 But it's a risk that we're open to taking, though.

01:08:26.000 Of course.

01:08:27.000 The risk is managed, though.

01:08:28.000 You know what I'm saying?

01:08:29.000 So it's good.

01:08:30.000 I was going to say that at least my next question, because obviously trading takes time and focus and effort.

01:08:36.000 A lot of effort.

01:08:37.000 Take us through a day of what's, like, trading for you.

01:08:40.000 Like, I know you lock yourself in, you focus on that computer screen non-stop.

01:08:44.000 Yeah, so...

01:08:45.000 Tell us how it was trading for you.

01:08:46.000 Well, I started trading around, like, 7 a.m.

01:08:48.000 through, like, around 12 p.m.

01:08:50.000 So I'm, like, locked on the computer, analyzing the entire time.

01:08:55.000 Probably analyzing for, like, about a good three hours. 0.99

01:08:57.000 Damn! 0.99

01:08:57.000 Yeah. 0.99

01:08:58.000 But then if I'm in a position around 8.30, like, 9 o'clock, like, whenever, you know, like...

01:09:04.000 The stock market opens and that kind of stuff.

01:09:06.000 I'm pretty much good to the charts pretty much throughout that entire time period. 0.98

01:09:09.000 So like if I'm in a position, I'm probably going to be looking at my phone the entire fucking day. 0.73

01:09:13.000 Like if I'm leaving the desktop, I'm on my phone for the rest of the day. 0.95

01:09:17.000 But I'm on the charts the entire time.

01:09:19.000 So you're trading at like, you start at like 7am, finish at like 12 midday?

01:09:22.000 Huh?

01:09:24.000 You start at 7, right?

01:09:25.000 Yeah.

01:09:25.000 And finish at 12 midday?

01:09:26.000 Average, yes.

01:09:27.000 And then you're done?

01:09:27.000 Every day?

01:09:28.000 Seven days a week?

01:09:29.000 Or are you five days a week? 0.99

01:09:30.000 So with me personally, I trade a fucking lot. 0.98

01:09:33.000 You know what I'm saying? 0.97

01:09:33.000 I can probably trade like three, four times every single week. 0.97

01:09:36.000 Okay.

01:09:37.000 You know what I'm saying?

01:09:37.000 As far as day-wise.

01:09:38.000 So you're having days like this three times a week at least?

01:09:40.000 Yeah.

01:09:40.000 Okay.

01:09:40.000 But those are days that like, yo, every single time that we get on the charts, we're prepping for that stress that comes with it.

01:09:47.000 You know what I'm saying?

01:09:48.000 Yeah, of course.

01:09:48.000 To trade every single day...

01:09:50.000 I feel like you're putting yourself under a lot of stress, which does make sense, and then you're pretty much going to be taking on things that you don't really want to take on at times.

01:09:57.000 You know what I'm saying?

01:09:58.000 At least three or four times a week that I'm open to, but I try to make sure that I'm disciplined enough to even wake up, I get on my charts for a couple hours at least, to try to actually make sure that I'm active and I'm in tune with what's going on in the market for you.

01:10:12.000 You mentioned a very important word.

01:10:13.000 You said stress.

01:10:14.000 How do you manage stress trading, bro?

01:10:15.000 Because that's heavy.

01:10:16.000 Because you trade, like, what?

01:10:17.000 $100,000?

01:10:19.000 No, so, like, whenever I'm on the charts, I'm risking, on average, at minimum, $5,000.

01:10:24.000 And then, you know, whenever I'm in my zone and, like, my flow and everything, like, my rhythm, like, each and every single trade that I take, on average, could be, like, up to $10,000 to $20,000 at times, even $60,000 at times.

01:10:34.000 So how much money do you have in the market on a regular day for you when you're trading?

01:10:37.000 So, like, all of my...

01:10:39.000 Like my average account size is like around like 150.

01:10:42.000 You know what I'm saying?

01:10:42.000 Okay.

01:10:42.000 So like I'm open to risking at times 20k out of that.

01:10:45.000 You know what I'm saying?

01:10:45.000 To actually make up to 40 or 60k, a one in three type of risk.

01:10:49.000 You know what I'm saying?

01:10:50.000 So like I understand like what I'm open to losing each and every single time that I'm getting in a trade based off of that account size.

01:10:55.000 So, just so the audience understands, you have a trading account, which you have about $150,000 in there that you use to trade, and then you're placing trades throughout the day.

01:11:02.000 You're locked in, it seems to me, for about at least five to seven hours.

01:11:05.000 Yeah, but it's not like placing trades throughout the entire day.

01:11:08.000 Like, it's a certain time period that I'm looking for a trade entry based on a setup that I'm looking for for that certain point in time.

01:11:14.000 Gotcha.

01:11:15.000 So, that might mean...

01:11:17.000 Or even two, depending on the risk for that certain trade.

01:11:19.000 Oh, so you're analyzing the whole time and you make one or two trades in that period.

01:11:23.000 Yeah, and then I'm holding at that point.

01:11:24.000 That hold can be a couple hours, a day.

01:11:27.000 If it looks good, and I'm pretty early for the entire overall move based on a higher time frame, I'm probably in that trade for a couple days.

01:11:33.000 If I could.

01:11:35.000 And you're looking at your phone, the whole time that money's out in the market, pretty much.

01:11:39.000 I try not to, but I definitely sleep good at night also.

01:11:42.000 You know what I'm saying?

01:11:42.000 Most of what trading actually is, though, is you're just waiting a lot of the time.

01:11:45.000 You're doing your analysis, and then after, like, the action of trading itself, when you press that buy or sell button, it's seconds.

01:11:52.000 It's seconds.

01:11:53.000 But then a lot of the times, it's after you press that buy or sell button, then it goes back to more waiting.

01:11:57.000 Yeah.

01:11:57.000 So you could be in consolidation for a trade set that you're actually anticipating for certain times, like three, four days before it actually plays out.

01:12:05.000 You know, but I think as long as you're pretty much understanding the bias or the overall direction for that certain trade, then, you know, that consolidation means literally nothing.

01:12:13.000 That's like a waiting game at that point.

01:12:14.000 But as long as you're pretty much still within risk...

01:12:17.000 And the direction is good, then you're pretty much on a waiting game that you have no control over.

01:12:21.000 How long it takes a move to actually hit or even push, we have no control over that.

01:12:25.000 So once we're in, we pretty much understand the risk, we understand the buys.

01:12:28.000 So when you go in, you're going to at least 5,000, and you might be in on multiple situations.

01:12:32.000 You might have somewhere between $5,000 to $50,000 out in the market that you're risking.

01:12:37.000 Open to risking, yeah.

01:12:38.000 Open to risking, okay.

01:12:39.000 What's the most...

01:12:40.000 With a $150,000 account that you have that you use.

01:12:42.000 Correct.

01:12:42.000 Like, I love starting...

01:12:44.000 Like, what I do best with...

01:12:45.000 I love starting with, like, either $100,000 or $20,000 on average whenever I start up a brand new account.

01:12:51.000 You know what I'm saying?

01:12:52.000 Because there's certain times that, like, I have, like, a nice account build, withdraw, start over...

01:12:56.000 Risk, you know what I'm saying?

01:12:57.000 Like, restart all over again.

01:13:00.000 Because there's certain times that, like, you know, like, if I have a good trading flow, like, the other day, I did $15K to, like, $550,000.

01:13:08.000 I lost, like, $150,000.

01:13:10.000 After that, I was like, ugh, I'm done.

01:13:13.000 Close it out.

01:13:14.000 You know what I'm saying?

01:13:14.000 Withdraw, I'm done.

01:13:15.000 And then start all over again.

01:13:17.000 A lot of times what can happen is you can go on tilt.

01:13:19.000 And you can lose all of it.

01:13:21.000 Which is why I say, even if you're not in a position, that money is still at risk.

01:13:25.000 Which is why it's important to always pay yourself and withdraw.

01:13:28.000 Bro, I have to.

01:13:30.000 It's a mental thing.

01:13:31.000 I remember this one time, I saved all of my withdrawals and everything.

01:13:36.000 I put $600,000 inside the market.

01:13:37.000 I built that up to $1.8k in about a week and a half.

01:13:40.000 And then I lost $300,000. 0.99

01:13:41.000 Damn. 1.00

01:13:42.000 Damn. 1.00

01:13:42.000 But I'm still in profit. 1.00

01:13:44.000 Ridiculous. 0.90

01:13:44.000 Yeah, you're still up. 0.90

01:13:45.000 But that's kind of a possibility.

01:13:47.000 So right after that, I withdrew all that capital.

01:13:50.000 I bought my P-slip. 0.99

01:13:51.000 And after that, I just chilled.

01:13:52.000 Gotcha.

01:13:53.000 So you have to pay yourself in some kind of way.

01:13:54.000 You know what I'm saying?

01:13:55.000 You're working so hard and you're putting yourself under someone's stress.

01:13:57.000 Why not pay yourself?

01:13:58.000 What's the most you ever lost and most you ever made?

01:14:03.000 What was it?

01:14:04.000 Like $400,000.

01:14:06.000 I think you posted that one, right?

01:14:08.000 Like my biggest loss.

01:14:09.000 Like most I ever made in one trade was $450,000. 0.99

01:14:12.000 Damn. 0.99

01:14:13.000 Yeah, but that was... 0.99

01:14:14.000 Wait, K? K, bro.

01:14:16.000 K. K, yes.

01:14:17.000 K, K, K. That's somebody selling for a year.

01:14:20.000 I thought that we don't really have to say the K anymore, you know what I'm saying?

01:14:23.000 You get it.

01:14:24.000 $450,000.

01:14:25.000 Oh, yeah.

01:14:26.000 Okay, okay.

01:14:26.000 I believe that.

01:14:27.000 Yeah, yeah.

01:14:28.000 No, but I was on an anniversary.

01:14:31.000 I was at a hotel and everything with my girl and everything, and all of a sudden, I had 40 lots on 30.

01:14:37.000 Crazy.

01:14:38.000 That's crazy.

01:14:38.000 So, I understood the risk, but I'm like, yo, but the reward is going to be crazy.

01:14:42.000 You must have celebrated, huh?

01:14:44.000 Huh?

01:14:44.000 You must have celebrated that day, huh?

01:14:45.000 No, I lost the money.

01:14:47.000 I was in a position of 40 lots on 30th, but I'm on an anniversary, you know what I'm saying?

01:14:55.000 And that's how you lost that $400,000?

01:14:57.000 I'm not saying it was because of the anniversary, but I'm saying that I was kind of distracted, you know what I'm saying? 0.99

01:15:03.000 So I rolled over, like when I woke up, I looked at the phone, fuck. 1.00

01:15:08.000 Damn. 1.00

01:15:09.000 Closed out, put it back up, and I went straight back to sleep. 1.00

01:15:12.000 Okay.

01:15:13.000 I can't do anything, you know what I'm saying?

01:15:14.000 But at the same time, like, that was a part of that account, you know, building everything.

01:15:17.000 So, I mean, I was like, alright, cool.

01:15:18.000 I was still in profit, so it's not like I lost.

01:15:21.000 Yeah, yeah, you were in profit regardless.

01:15:22.000 I was still in profit, but at the same time, like, I just went super fucking hard, trying to actually risk a lot, but also, like, the reward for that one trade was supposed to be, like, 1.3 or some shit, but...

01:15:31.000 It'll work out. 0.87

01:15:31.000 It's all good. 0.87

01:15:32.000 It's important to know that you can win some and lose some.

01:15:34.000 It's just part of the game.

01:15:35.000 It's a part of the game, bro.

01:15:36.000 And people, they try to not think about the losses. 0.99

01:15:40.000 It's a part of the fucking game. 0.99

01:15:41.000 How can you be open to trying to make $100,000 but you're not even open to losing $20,000? 0.99

01:15:46.000 Yeah, you know what I'm saying?

01:15:47.000 Like, it doesn't make sense.

01:15:48.000 Yeah, no, for sure.

01:15:49.000 And then Raoul, for you, what's your day like?

01:15:51.000 And then biggest loss, biggest gains?

01:15:53.000 So my day actually starts the night before.

01:15:56.000 That's when I actually do my pre-market analysis and I essentially plan what my trading day is going to look like on the next day.

01:16:03.000 So after that, that's about like an hour, maybe an hour and a half.

01:16:05.000 It just really depends.

01:16:06.000 I try and give it, you know...

01:16:08.000 Because the thing is, if you spend too much time analyzing just one asset, you're going to start over-analyzing and you're going to get in a situation where you don't know what to do.

01:16:19.000 So realistically, I'll give myself an hour and also an extra 30 minutes to review my trades of the previous day, but it all starts the night before.

01:16:27.000 So 30 minutes go into analysis, 30 minutes goes into my journaling and reviewing the trades that I did throughout the prior week, throughout the prior days, et cetera, et cetera.

01:16:36.000 Then when it comes to my pre-market analysis, this is probably around like 8 o'clock, 8.30 in the morning, an hour before or an hour and a half before the market actually opens.

01:16:44.000 Because I only trade two assets, which is I only trade realistically the NASDAQ or NAS100 and the S&P 500 or SPX. And then my active trading is from 9.30 to about 12.30.

01:16:56.000 That's my trading window.

01:16:57.000 Because then after 12.30, we're moving into a lunchtime.

01:17:00.000 Volume starts to die off.

01:17:01.000 And then it'll pick back up again in the afternoon.

01:17:03.000 But I only trade in the morning because that's when you see most volatility there.

01:17:07.000 Then after my trading day is done, I pretty much go out and do whatever I want for the rest of the day.

01:17:11.000 Then come back to my office.

01:17:12.000 Yeah, basically.

01:17:13.000 Then come back to my office.

01:17:14.000 I come back to my office and do the same thing I did the night before.

01:17:18.000 I journal.

01:17:19.000 My trade's on the day, and I review what could possibly go down, and I plan for the next day.

01:17:23.000 But at least try to actually implement some time on the charts and everything else, so you know that you're giving time and effort to your actual craft and everything.

01:17:31.000 I can say that you guys are very consistent with your rules and your setups, and you make it work.

01:17:36.000 Well, we try to be.

01:17:37.000 We try to be, of course.

01:17:38.000 But it's possible.

01:17:39.000 I feel like there's times that you know that you are going against it, but at the same time, you know what you have to do to actually stay on track.

01:17:45.000 You know what I'm saying?

01:17:46.000 Which is cool.

01:17:47.000 That's fair.

01:17:47.000 Which is like a balance of life, which is never a thing, but you're always striving for balance, but in reality it's never a thing.

01:17:53.000 But this is also when you're supposed to learn when to size up, when to size down.

01:17:56.000 When I'm not like super locked in, I'm sizing down completely.

01:18:00.000 Versus when I'm locked in and I'm living and breathing trading, that's when I'm typically sizing up a lot.

01:18:05.000 And it also depends on the market conditions too, because if you know and you've seen price action over the last few days and you see the markets are in a nice trending condition, you're going to want to be locked in, you're going to want to size up because these are the times you want to take advantage.

01:18:15.000 Versus when the markets are chopping, consolidating a lot of the time and say, okay, you know what, let's just kind of chill, let's size down a bit.

01:18:21.000 Yeah, the price action just simply isn't the cleanest.

01:18:23.000 I mean, when it comes to like my biggest loss, I've never lost $450,000 a day.

01:18:27.000 That was crazy.

01:18:28.000 I lost about a quarter million in the span of three days.

01:18:32.000 And that was because I was just too confident and sizing up too quickly.

01:18:34.000 I did an account build.

01:18:36.000 This is around the time where we figured out that my wife was pregnant.

01:18:40.000 I deposited $100,000 into a trading account.

01:18:42.000 I turned into like $1.2 million.

01:18:44.000 And I was withdrawing along the way.

01:18:46.000 And this is all documented too.

01:18:48.000 It's on my Instagram.

01:18:48.000 You can see all the withdrawals, etc., etc.

01:18:50.000 Right?

01:18:51.000 But the problem after an account book like that, it's kind of very similar to when you're in a losing streak.

01:18:55.000 You don't have enough confidence to execute appropriately.

01:18:58.000 But in this type of situation, I was too confident because I'm like, I'm essentially feeling like the king of the world.

01:19:04.000 They just turned almost 150 grand into a million dollars plus.

01:19:07.000 Yeah. 0.99

01:19:08.000 Nobody could tell me shit. 0.99

01:19:10.000 And then I got humbled really quickly in the span of like three days. 0.99

01:19:13.000 I lost a quarter million dollars.

01:19:15.000 That's when I was like, nope.

01:19:15.000 I withdrew everything.

01:19:16.000 Done.

01:19:19.000 You're still in a significant profit.

01:19:21.000 But the problem is what can happen in those situations where you size up too quickly, then you take a huge loss.

01:19:28.000 If you don't control it and stop yourself right away, you'll lose even more.

01:19:31.000 A lot of the time.

01:19:32.000 And that's something that I learned as a beginner because my main issue as a beginner was I was over trading and over leveraging too quickly and I would lose weeks upon weeks of profits in a single day.

01:19:43.000 And because I've already acknowledged that from my past in this type of situation, we drew everything and just took a break.

01:19:50.000 Yeah, like, that's probably the best fix.

01:19:52.000 Just clear everything off the table and start back.

01:19:54.000 Start new.

01:19:54.000 Yeah, and then you've got to start small again.

01:19:56.000 You've got to start small because it's not easy losing.

01:19:58.000 But you enjoy the money at the same time.

01:19:59.000 Like, the money that you just withdrew, you enjoy that.

01:20:01.000 But also, like, when you're ready to trade again, you deposit again.

01:20:04.000 All right, cool.

01:20:04.000 I can only imagine how much mental fortitude that would take and emotion to do that because, obviously, it's like, it's stressful.

01:20:10.000 It is.

01:20:11.000 Yeah, it is.

01:20:12.000 And it completely changes your relationship with money, too.

01:20:14.000 Yeah.

01:20:16.000 I think it's because over time, we kind of lose the respect of a dollar eventually also.

01:20:20.000 Which is bad.

01:20:22.000 It's also a bad thing too.

01:20:25.000 I'll give you an example.

01:20:26.000 So there was one day in this account build where I had made, it was like $180,000. 1.00

01:20:31.000 I was like, bro, fuck it. 0.99

01:20:31.000 I withdrew all of it. 0.99

01:20:32.000 I went and I put a fucking, what was it called? 0.98

01:20:36.000 A huge down payment on an order. 0.99

01:20:39.000 I don't remember if it was my cullinan.

01:20:41.000 Or it was a different car.

01:20:43.000 But I went and I put a huge deposit on the order of the car.

01:20:45.000 It's like, I don't care.

01:20:45.000 I'm going to make it back regardless.

01:20:47.000 That's like the problem, you know, that I found myself a lot too.

01:20:50.000 But it's also a blessing too, because when it came around to my boy's birthday, I had made $100,000 in that day.

01:20:57.000 I literally did all this for YouTube.

01:20:59.000 You see me withdraw from the trading account to my internal transfer to the broker's wallet, then from leaving the broker's wallet all the way to my crypto wallet, then hitting my bank account, and I sent it right away to Neo and I bought my boy a watch for his birthday on that same day.

01:21:12.000 Nice.

01:21:13.000 So it's kind of like, you know, it's kind of like a blessing that occurs because your relationship with money actually does change significantly.

01:21:19.000 Yeah.

01:21:20.000 I mean, making it that quick, but with the stress as well, I mean, you've got to enjoy it.

01:21:24.000 Yeah.

01:21:25.000 Yeah.

01:21:27.000 What else do we got here?

01:21:28.000 And guys, I don't think we're going to have an after-hours tonight.

01:21:30.000 Yeah, we won't.

01:21:31.000 We won't, because we've got to move.

01:21:33.000 We've got to move studio.

01:21:34.000 Yeah, we're actually going to move all of our stuff tomorrow, guys, so we've got to get this handled.

01:21:38.000 It's a brand new setup.

01:21:39.000 So, yeah, a whole new setup.

01:21:41.000 What do we got here?

01:21:42.000 What brokers do you...

01:21:43.000 No, buy box goes, what brokers do you recommend as a beginner for futures and forex?

01:21:47.000 What are the best brokers?

01:21:48.000 I mean, futures and Forex.

01:21:50.000 Futures, I'm not too, too sure about it.

01:21:52.000 For futures, I mean, NinjaTrader did just buy a trade rate because I am looking to actually start trading futures probably sometime next year.

01:21:59.000 What are futures?

01:21:59.000 It's becoming a bit more popular, but I don't trade it though.

01:22:01.000 It's basically the same thing as trading indices.

01:22:03.000 It's just a different platform of execution.

01:22:06.000 Right.

01:22:06.000 Indices.

01:22:10.000 It's just the platform execution is different.

01:22:12.000 So I'm going to open up an account with NinjaTrader, which, I mean, you can also open an account up with TraderVate.

01:22:17.000 They're a fully regulated platform.

01:22:19.000 That's probably like the best one for futures.

01:22:20.000 I mean, with Forex, there's so many different brokerages out there.

01:22:24.000 Yeah, depending on what kind of features that you're looking for for that platform, then just either focus on that.

01:22:30.000 It could be the leverage, it could be the deposit and withdraw methods.

01:22:33.000 It depends on what you're really into.

01:22:34.000 But many brokers have different options, so it depends on what you're into first.

01:22:39.000 But it's options, many options. 0.99

01:22:40.000 Damn. 0.99

01:22:41.000 Alright. 0.99

01:22:41.000 Hey guys, do me a favor. 0.99

01:22:42.000 We got 2.5k y'all watching on YouTube and we got another, I think, 5,000 or so watching on Rumble.

01:22:47.000 So guys, go ahead and like the video.

01:22:49.000 Let's get up to 2,000 likes.

01:22:50.000 Get the engagement up, man.

01:22:52.000 Let's go.

01:22:52.000 Appreciate that greatly.

01:22:53.000 What do we got here?

01:22:54.000 Myron, I'm 5'10", 242 pounds.

01:22:55.000 What is a safe calorie deficit for me to lose weight?

01:22:58.000 That depends on a bunch of different factors, bro, to include your age and activity level, etc.

01:23:01.000 But go ahead and use a...

01:23:04.000 A TDE calculator so that you can figure out what your maintenance calories is and then whatever that number is, you want to be 200 to 300 below that and that will put you in a calorie deficit and you'll lose weight nice and slowly and sustainably, most importantly.

01:23:15.000 510, 242 is crazy. 0.93

01:23:16.000 Yeah, you fat as hell though. 0.88

01:23:19.000 Knowing that the key to proper trading is to limit your losses, what tips do you guys have for proper risk management slash stop loss? 0.82

01:23:26.000 It's a good question.

01:23:26.000 Well, I say, for me at least, precision.

01:23:30.000 Precision is very, very important.

01:23:32.000 Understanding how precise you can actually be in the markets is very, very important.

01:23:35.000 And understand what's your average drawdown percentage.

01:23:39.000 And pretty much try to actually strive to actually get more precise with drawing your...

01:23:59.000 I'm wrong early.

01:24:05.000 So you can see it.

01:24:06.000 Exactly.

01:24:07.000 Yeah.

01:24:08.000 Time frame base.

01:24:09.000 I mean, for me, the whole trade has to be planned.

01:24:11.000 So you need to have your area where you're looking to execute the trade, and then you'll have a price action signal that'll tell you this is where, or this is the time to actually execute.

01:24:19.000 And when it comes to your stop loss...

01:24:21.000 I see a lot of people like they just put a random stop loss like in an area where it's like, okay, you know if price is here, it's right.

01:24:26.000 For me, a stop loss needs to be at an area that invalidates the trade.

01:24:30.000 Correct.

01:24:30.000 Meaning that if the trade hits this area, there's a higher probability that you're going to be wrong and that's when you want to cut your loser as short as possible.

01:24:37.000 After you've determined both of those areas, then you determine what area you're going to look at.

01:24:42.000 Where you're going to get out if you're right.

01:24:43.000 Then after that, if you have a positive or multiple on that specific planned trade is when you can actually formulate the trade setup and say, okay, this is valid.

01:24:51.000 I'm going to be taking this.

01:24:53.000 And you simply have to wait again for the execution. 0.68

01:24:55.000 Okay.

01:24:56.000 We trade very, very differently, but at the same time, they work.

01:25:00.000 So at the same time, people got to understand we see different perspectives of the market.

01:25:00.000 You know what I'm saying?

01:25:05.000 And with trading, it's like one thing that every single person has a different perspective in some kind of way.

01:25:09.000 Yeah, there's no one right way to trade.

01:25:10.000 There's so many different trading styles and systems out there.

01:25:14.000 It's whatever works.

01:25:16.000 But stop loss is important, though.

01:25:17.000 Stop loss is very important.

01:25:18.000 But that's one thing that we did actually agree on.

01:25:20.000 The stop loss has to be in an area of non-fluctuation.

01:25:23.000 It has to be in an area that pretty much invalidates the entire trade.

01:25:25.000 Yeah, definitely.

01:25:26.000 So basically, once it hits the point of no return, you've got to cut that thing off.

01:25:29.000 100%.

01:25:30.000 Because it's only going to go down from here.

01:25:31.000 Once it hits the point, it's only going down.

01:25:33.000 Fair enough.

01:25:36.000 So we got here, you guys should analyze GBPUSD. Where do you see it going long-term versus short-term?

01:25:42.000 Hashtag real traders know.

01:25:44.000 I don't really analyze GU2 too much personally.

01:25:47.000 So I mean, I'm not really in tune with what they have going on on that pair currently.

01:25:51.000 Yeah, and you can't really make like the decision as a long-term versus short-term too because you have to look at like, again, like the fundamentals and the macroeconomics when it comes down to the Great Barrier and Pound and then the US dollar to really make like a long-term decision as to where price could potentially go depending on what type of data actually does come out.

01:26:05.000 Yeah.

01:26:06.000 Is that a volatile pair right there?

01:26:06.000 Short term, it's easy.

01:26:08.000 It gets more volatile.

01:26:10.000 With pairs like GJ, which is GPY, Japanese yen, that's when it gets super volatile.

01:26:15.000 With GU, it's not too much, but I feel like it can get a bit more, but it's like one pair that I wouldn't really recommend too much because that pair is sporadic. 0.97

01:26:25.000 Any pair that's great British pound, it's sporadic as fuck. 0.98

01:26:29.000 Gotcha. 0.98

01:26:30.000 It's just a super volatile currency, honestly.

01:26:32.000 Yeah, it's all over the place.

01:26:35.000 It's like one pair that pretty much will spike for no reason and then go back to where it just came from.

01:26:39.000 That's just insane.

01:26:40.000 Would it be fair to say that if you're going to trade Forex, it's best to master a few pairs and just stick in that realm?

01:26:47.000 Well, I'm very big on stick to one and master that one until you get bored of it and then switch.

01:26:54.000 Some people like to actually trade two or three and that kind of stuff.

01:26:57.000 That's cool.

01:26:57.000 But when I first started, I traded AU for an entire year before I actually switched a different pair.

01:27:04.000 And then I traded UJ for an entire year also.

01:27:07.000 What pair were AU or were you just doing anything with Australian?

01:27:10.000 No, no, it was just, AU is that asset that I was trading for an entire year.

01:27:13.000 That one trade.

01:27:14.000 That one pair.

01:27:15.000 Oh, you didn't change at all.

01:27:16.000 I didn't change at all, because I wanted to focus on actually getting better at my technicals and everything, but if you're consistent with one pair, then it will benefit you in the long run, because you're gaining a better foundation for the next pair.

01:27:26.000 So it didn't matter what pair I was with, you just focused on trading AU. AU. I didn't care if this person just made so-and-so on that other pair.

01:27:33.000 I was focused on what I was focused on.

01:27:35.000 But it's good because...

01:27:36.000 Is that because AU... And I hate to...

01:27:38.000 Just these clarifying questions.

01:27:40.000 Is that because AU is a stabler currency?

01:27:42.000 At the time, yeah.

01:27:43.000 And I was still in that learning curve trying to actually just get better at every single thing that I was doing with my consistency and that kind of stuff also.

01:27:48.000 But for the past three years, I've only been trading...

01:27:52.000 You know what I'm saying?

01:27:53.000 Because it makes me the kind of money that I want to make.

01:27:55.000 But also, I understand it enough, and I'm on it enough to understand what it's going to be doing based off of how much time I dedicate to it.

01:28:01.000 But that is not Forex anymore, right?

01:28:02.000 It's indexes now.

01:28:03.000 No, that's indexes.

01:28:04.000 Yeah.

01:28:04.000 It's still on the same markets, but it's just a different asset.

01:28:07.000 Okay.

01:28:07.000 Yeah.

01:28:08.000 Gotcha.

01:28:09.000 Okay.

01:28:11.000 Very interesting stuff, man.

01:28:12.000 This is from Locals.

01:28:13.000 Any of you familiar with XRP and it eventually getting pegged to a certain amount of gold and being the major component in the coming new financial system around the world?

01:28:20.000 FNF on top.

01:28:21.000 Shout out to you, man.

01:28:21.000 Shout out to Locals.

01:28:22.000 Slugbanger. 0.93

01:28:23.000 I mean, I don't really go too much in it.

01:28:25.000 I had XRP at one point in time, but I personally don't really fully believe in it, unless it's Bitcoin.

01:28:31.000 I don't really try to touch other cryptos too much.

01:28:34.000 Yeah, because it's not too stable.

01:28:37.000 Not even Ethereum?

01:28:39.000 Ethereum's cool, too.

01:28:40.000 But XRP, I'm just not too confident about that.

01:28:43.000 Oh, yeah.

01:28:44.000 They just won their lawsuit, right?

01:28:46.000 They won it, right?

01:28:47.000 I think so.

01:28:48.000 Yeah, to be considered as a security order.

01:28:50.000 Yeah, they won it.

01:28:52.000 Okay.

01:28:53.000 We got here.

01:28:54.000 Good evening from Vermont.

01:28:55.000 Myron, I'm working 70 hours a week as a chef, along with 15-20 hours on my financial service business.

01:29:01.000 My problem is that my financial services takes five to ten years to build a multiple six-figure business.

01:29:06.000 I have everything it takes to be successful, but think that I should be putting my time slash sweat equity into another business industry that won't take as long.

01:29:13.000 Any tips on if I should take another road or not?

01:29:18.000 Bro, here's the thing.

01:29:19.000 Building a business, most businesses aren't profitable in the first few years, man.

01:29:22.000 That's just the unfortunate reality of being an entrepreneur a lot of the times.

01:29:26.000 Especially since you're in a financial services business.

01:29:28.000 Did you guys have anything that you want to add to it?

01:29:30.000 I was going to say that.

01:29:32.000 Giving 70 hours a week is kind of crazy, personally.

01:29:35.000 As a chef.

01:29:36.000 You can do a lot more with that 70 hours that could actually benefit you for the long run.

01:29:41.000 Compared to putting that much time into one thing.

01:29:44.000 That's a good point.

01:29:44.000 Yeah, you might need to start cutting back on those hours as a chef and put it more into your business.

01:29:49.000 Correct, correct.

01:29:49.000 100%.

01:29:50.000 Because 70 hours, like, remember, the whole goal is that you slowly segue from your main job into your business.

01:29:57.000 So you're going to see more returns when you put more time into your side business.

01:30:01.000 Correct.

01:30:01.000 Yeah, you don't want to get cooked.

01:30:02.000 Yeah.

01:30:04.000 Wow.

01:30:07.000 I told you I didn't have the goal to be a millionaire, but no, bro, that's what I would do.

01:30:10.000 The whole goal of being an entrepreneur is you take your main job, funnel that money into your entrepreneurship, and then you'll slowly start to weave off on your main job and start putting more and more time into your side business, which is going to make you more money.

01:30:23.000 And then once you start making as much as, if not preferably, 1.5 to 2 times as much money from your business as your main job, that's when you can successfully exit that job and move into entrepreneurship full time.

01:30:35.000 Hunter Trainier goes, I'm 21 and have had the goal to be a millionaire by 25, which, yes, is very hard, but I'm maxing out my time and just don't know what else I can do to get my goal, which is why I'm having second thoughts about the industry.

01:30:45.000 I'm in 70 hours on my 9 to 5, 20 hours on my business, 8 hours in the gym.

01:30:50.000 Okay, so same thing.

01:30:51.000 Same guy, same question.

01:30:53.000 I feel like he kind of messed up by even putting a deadline.

01:30:55.000 Time limit, right?

01:30:56.000 Yeah.

01:30:56.000 You can't put a time limit.

01:30:58.000 Like, you don't know.

01:30:59.000 You don't know.

01:30:59.000 You can assume.

01:31:01.000 It's effort-based.

01:31:02.000 You know what I'm saying?

01:31:02.000 You can't just sit down and be like, you know what, in five years, I'm going to be a millionaire.

01:31:06.000 Okay, how?

01:31:07.000 What's the plan?

01:31:08.000 You know what I'm saying?

01:31:08.000 If you have no plan, it means nothing.

01:31:10.000 Yeah.

01:31:10.000 I see his perspective with having an end date, but yeah, bro, the goal here is, because it's the same guy, you need to slowly segue that time that you're putting into being a chef.

01:31:20.000 That's 70 hours.

01:31:20.000 You need to slowly start putting it into your business, and then you're going to see more returns to get into that six-figure range.

01:31:25.000 Yep.

01:31:28.000 DGBILD, job is not finished.

01:31:29.000 WFNF Tate, Tristan, shout out to you.

01:31:31.000 Let's go.

01:31:32.000 Invesco's traders, in your opinion, do the fundamentals drive the technicals?

01:31:35.000 Do you guys constantly keep up with the BLS reports?

01:31:38.000 I mean, for sure, of course.

01:31:41.000 When it comes down to the fundamentals, the markets don't move just randomly because prices are going to go up, prices are going to go down.

01:31:46.000 Interest rates, inflation, all of these different things, all these different variables and factors, and also order flow as well will determine the direction of the market.

01:31:55.000 So especially if you're a longer-term trader, you trade essentially a swing trade, position trade.

01:31:59.000 Whatever you're doing, that's a longer term.

01:32:01.000 You need to be in tune with the fundamentals and what's going on in the economy and in the world overall to understand better how you can execute on your trading system.

01:32:07.000 But if you're someone who's a little bit more shorter term, then I would probably just be more aware of when this type of data is actually going to come out so you can make the decision like, hey, you know what?

01:32:15.000 The data came out lower than expected.

01:32:16.000 I may be actually looking to buy or the data came out higher than expected.

01:32:19.000 I may actually be looking to sell and then use that fundamental bias to then go in alliance with your technical bias.

01:32:26.000 Yep.

01:32:26.000 All right.

01:32:27.000 We got Professor So Icy, or Professor Icy, first the type of guy to say that was excellent after busting.

01:32:35.000 Excellent.

01:32:36.000 What the hell? 0.98

01:32:37.000 Who says that? 0.98

01:32:38.000 Let's see, bot.

01:32:39.000 Anyone else really craving Cinnamon Toast Crunch right now?

01:32:42.000 Okay.

01:32:43.000 That's random.

01:32:43.000 That's a random cereal.

01:32:44.000 Is it possible to trade part-time, or do you have to go all-in and learning trading full-time?

01:32:49.000 No, part-time is where you start.

01:32:51.000 You know what I'm saying?

01:32:51.000 Because I feel like eventually it'll come to a point that you know that it's like if you put a little bit more effort, you can make a lot more money.

01:32:58.000 You know what I'm saying?

01:32:59.000 But I feel like it's very, very important to actually put a little bit of time and just even get a passion for it first and then eventually start to get a bit more into it.

01:33:06.000 And if you start to make more money when trading part-time, eventually it'll come to a point that you want to dedicate that full-time each and every single day to actually trade at that point.

01:33:17.000 Well, you were doing Target while trading.

01:33:19.000 Yeah, I was trading while I was at Target.

01:33:21.000 So I was technically part-time and part-time. 0.95

01:33:23.000 Eventually, it came to a point that I was like, yo, listen, I'm in between the aisles and everything on my phone to check my charge real quick and that kind of shit.

01:33:30.000 It came to a point that I'm missing positions and losing trades because I'm at work. 0.99

01:33:35.000 I'm around the manager and that kind of shit. 0.97

01:33:37.000 So it comes to a point that when your business or your passion needs you more than your job, then that's when it's time to leave. 0.99

01:33:44.000 Okay.

01:33:45.000 Yeah.

01:33:45.000 Bam.

01:33:46.000 There you go.

01:33:47.000 Let's see here.

01:33:48.000 And this is an excellent side hustle to learn on the side, guys, because it doesn't take that much time.

01:33:53.000 If you've got a full-time job, you can kind of get in with, you know, different feet in, learn.

01:33:56.000 You don't need a credit score.

01:33:57.000 You don't need to have any major, like, I want to say things to start. 0.97

01:34:00.000 I've had students that were pretty much felons and pretty much all kind of crazy ass backgrounds and it doesn't matter. 0.96

01:34:06.000 Can't get a job, yeah. 0.98

01:34:07.000 No, but it doesn't matter.

01:34:08.000 It doesn't check backgrounds and that kind of thing.

01:34:09.000 You know what I'm saying?

01:34:09.000 All you gotta pretty much do is dedicate time to the craft and then apply it.

01:34:13.000 You don't have to do a background on anything, which is cool because it doesn't discriminate from any single person, which is cool.

01:34:18.000 Wow.

01:34:19.000 So it's beneficial for every single person all around the world.

01:34:21.000 Race.

01:34:22.000 Black, white, aging.

01:34:23.000 It doesn't matter.

01:34:24.000 Height.

01:34:24.000 It doesn't matter.

01:34:25.000 You know what I'm saying?

01:34:25.000 It's there.

01:34:26.000 It's open.

01:34:26.000 No systemic racism.

01:34:27.000 No.

01:34:27.000 At all.

01:34:28.000 For all you crybabies.

01:34:30.000 Day trade, swing trade, or a combination of both?

01:34:33.000 Also, what precautions do you take during big news events like CPI and FOMC announcements?

01:34:38.000 I covered it earlier, but...

01:34:39.000 Well, so I'm mainly an intraday trader, which means that I'm only in trades for a couple hours at times, on average.

01:34:45.000 Swing trades, I only swing trade if I have the ability to hold a certain trade for a certain amount of time.

01:34:51.000 Can you tell us the difference between a day trader and a swing trader?

01:34:54.000 A swing trader holds trades for, at times, weeks and that kind of stuff.

01:34:57.000 So they're a longer-term trader.

01:34:59.000 A day trader, day trader.

01:35:01.000 You know what I'm saying?

01:35:01.000 Within that day...

01:35:02.000 They're in and out within 24 hours.

01:35:03.000 Correct, correct.

01:35:04.000 On average.

01:35:05.000 Majority of the time.

01:35:05.000 The precautions for big newsmen and that kind of stuff, I would normally just scale down.

01:35:10.000 My lot size.

01:35:11.000 So the lot size that I would normally use throughout my normal days, I would just scale down a little bit.

01:35:15.000 So if I do lose, I'm not losing a ton of money.

01:35:18.000 So if I go in progression, scalper is minutes...

01:35:22.000 Day trader is for 20...

01:35:23.000 Intraday.

01:35:24.000 Okay, so it goes scalper, minutes.

01:35:27.000 Intraday is a few hours, maybe?

01:35:29.000 A few hours, and that kind of stuff, yeah.

01:35:30.000 Then you got the swing trader, no.

01:35:31.000 Day trader.

01:35:32.000 Day trader, who's in there for maybe the business day, when the market's open.

01:35:36.000 And then you got the swing trader, who's in there, who could be in there for days or weeks.

01:35:39.000 Days or weeks.

01:35:40.000 And then a position trader, which is probably, you know...

01:35:42.000 Even longer term.

01:35:42.000 That's what you're doing, basically.

01:35:43.000 Six months. 1.00

01:35:44.000 Oh, shit. 1.00

01:35:45.000 Okay. 1.00

01:35:45.000 They don't really care what happens in between. 1.00

01:35:47.000 They care about an end goal in about five or six months.

01:35:50.000 It's just a long-term investment.

01:35:51.000 And then after that, you're long-term traders that are holding for years.

01:35:55.000 Years.

01:35:55.000 Gotcha.

01:35:56.000 Basically, you're buying and holding at that point.

01:35:58.000 So those are what?

01:35:59.000 Four, five, six levels?

01:35:59.000 Yeah, either stocks, index funds.

01:36:01.000 Yeah.

01:36:01.000 It's a bunch of stocks.

01:36:02.000 Yeah, two degree.

01:36:03.000 But I mean, most day traders could scalp and can also swing trade.

01:36:08.000 It just depends if the opportunity is present or not.

01:36:10.000 Correct.

01:36:10.000 But on average, our main thing is probably...

01:36:12.000 I'll say intraday is our go-to because it's a nice balance between everything, you know?

01:36:18.000 Gotcha.

01:36:18.000 Because it's pretty cool.

01:36:19.000 You could actually wake up early, trade, and enjoy your day after.

01:36:23.000 Yeah.

01:36:23.000 It seems to me...

01:36:24.000 Well, the biggest thing is also a swing trader doesn't really care about the one-minute chart or the five-minute chart or the 15-minute chart because it's so...

01:36:33.000 Miniscule.

01:36:34.000 Compared to a scalper, they're only on the one minute or the five minute chart.

01:36:38.000 They're on smaller time frames.

01:36:39.000 So I feel like it's more time frame based than anything else, which means that a position trader is probably on the weekly or the daily time frame.

01:36:48.000 Which one takes the most skill?

01:36:51.000 I'm assuming if you could scout, you could probably say intraday takes a lot of...

01:36:54.000 Put it this way.

01:36:55.000 A person that knows only how to swing, they are terrible at entries.

01:36:59.000 A person that only knows how to scalp, they don't know how to hold positions for a long period of time.

01:37:05.000 Gotcha.

01:37:05.000 An intraday trade is kind of like a nice balance in between the two.

01:37:08.000 The entries are good, but also they know how to maintain a...

01:37:12.000 A position for a long period of time.

01:37:13.000 It could be hours.

01:37:14.000 It could be days.

01:37:15.000 But they know how to pretty much hold an order and maintain it for a certain amount of time.

01:37:19.000 You're able to utilize skill sets from both angles that make you successful.

01:37:22.000 A nice balance.

01:37:23.000 A very, very dynamic trade at that point.

01:37:25.000 But if a person actually knows how to maintain a trade even beyond a couple days and that kind of stuff, then it turns into a swing trade.

01:37:31.000 So I feel like the overall goal...

01:37:33.000 For me, at least at times, I enter on a scalp type of setup, I maintain on an intraday type of setup, and then pretty much if I can maintain that trade for a certain amount of time, it turns into a swing trade at that point. 0.98

01:37:44.000 Damn.

01:37:44.000 Which can stay for a week or so, which happens every now and again, but at the same time, I try to be optimistic with trying to actually hold a trade, but there's certain times that...

01:37:52.000 What's the longest you've stayed in a trade?

01:37:54.000 Probably like a week and a half.

01:37:55.000 A week and a half.

01:37:56.000 That's a good breakdown though.

01:37:57.000 And that was on like probably like UJ like a long time ago actually.

01:38:02.000 Because I'm so satisfied with the money that I'm making now on asset I trade now which is US 30 that I don't need to hold a trade for a week and a half at times.

01:38:11.000 You're comfortable in your trades, basically.

01:38:13.000 Yeah, I'm more than great.

01:38:15.000 I'm more than great.

01:38:15.000 You know what I'm saying?

01:38:16.000 It's not like I'm struggling in any kind of way with my trades I'm taking.

01:38:19.000 I noticed between the two of you, whenever you guys are in a trade, you're aggressively watching the charts, you're on your phone, you're on it, right?

01:38:27.000 Would it be fair to say that you're trying to close that trade as soon as possible so that you can kind of just chill and relax?

01:38:33.000 No. 0.99

01:38:34.000 It's just certain times that like shit happens, bro. 0.99

01:38:36.000 Like holding it for more than a few days might be too stressful. 0.98

01:38:38.000 The thing is you want to try and let your winners run as long as possible while also mitigating as much risk as possible because if you're risking on a position $20,000 and you're up 60, you don't want to break even on that trade.

01:38:49.000 It's three to one.

01:38:50.000 That's cool.

01:38:50.000 Also, you know, you want to try and let your winner run for as long as possible to potentially make more.

01:38:55.000 So it's literally all about trade management.

01:38:57.000 So when it comes to, like, the skill and asking, oh, you know, which trader is most skillful, I would say it's not really the type of trader for your day trader, swing trader, scalper, but it's how you manage your position in the long run and what your risk management looks like.

01:39:08.000 Look, like, you always have, like, your starting, right?

01:39:11.000 You have your risk, but then you have your highest profit, and then you have your settling profit.

01:39:16.000 You know what I'm saying?

01:39:16.000 Yeah.

01:39:16.000 So, like, there's times that, like, let's say if you're up $100,000.

01:39:21.000 But then you settle at, like, $60,000.

01:39:21.000 Yeah.

01:39:23.000 That's still cool.

01:39:24.000 But you had your highest point, and then you had a point that, like, you know what?

01:39:27.000 All right, this is enough.

01:39:29.000 I'm taking it out.

01:39:29.000 You know what I'm saying?

01:39:30.000 So, like, it's always, like, the highest point and, like, the settle profit also, which is very important.

01:39:34.000 Gotcha.

01:39:35.000 Gotcha.

01:39:36.000 Because in my head, I'm thinking like, alright, you can stay in this trade longer, but is it worth the stress of, you're already up, you know, 10, 20, 30, 40.

01:39:43.000 Is it worth sitting in there and watching the charts like a hawk, not being able to be attentive to other things?

01:39:49.000 And the best feeling is pressing close and call it a day.

01:39:52.000 It's the best feeling.

01:39:53.000 I'm sure you guys have done that plenty of times.

01:39:55.000 It feels so good knowing that, you know what, I could press X and start my day.

01:40:00.000 I'm stress-free at that point.

01:40:01.000 It feels amazing, honestly.

01:40:02.000 I mean, imagine waking up, making 100K in the morning.

01:40:05.000 You can feel great the rest of your day.

01:40:06.000 Somebody said trail stops and have no TP. Personally, I don't like trailing stops because it's premature at times.

01:40:16.000 A trailing stop is pretty much like a stop loss that tracks as you're going in profit.

01:40:20.000 It tracks behind the order for a certain amount of points.

01:40:23.000 So if the market starts to pull back, the trailing stop stops.

01:40:27.000 And it liquidates your position.

01:40:30.000 And then keep on going.

01:40:31.000 Me personally, I'm open to fluctuation.

01:40:33.000 So your stop loss moves alongside your profits?

01:40:36.000 Yeah, that's a trailing stop.

01:40:37.000 But you don't have to.

01:40:39.000 Me personally, I stopped doing that maybe about 60 years ago.

01:40:42.000 I commit to closing.

01:40:44.000 If I'm going to close my orders, I'm closing everything after that. 0.98

01:40:46.000 I'm going to either take my set of profit or I'm going to try to hold that shit out a little bit longer. 0.95

01:40:52.000 Trailing stops, me personally, it's a premature stop. 0.99

01:40:54.000 It doesn't make sense to me.

01:40:55.000 So when it comes to trading, there's pros and cons in everything that you do, and you just have to weigh out those pros and those cons when it comes to trading.

01:41:02.000 Okay.

01:41:03.000 Wow.

01:41:04.000 All right.

01:41:05.000 Different world, man.

01:41:06.000 Very different world.

01:41:07.000 As a buy and hold real estate guy, this is completely...

01:41:07.000 I will say this, though.

01:41:10.000 Once again, it's very, very different.

01:41:12.000 It's very just like...

01:41:13.000 Foreign.

01:41:14.000 But it's great, though.

01:41:14.000 I'm learning.

01:41:15.000 Once again, imagine waking up.

01:41:17.000 Couple hours, four or five hours, make 100k.

01:41:21.000 Nigga, I'm going to be ecstatic.

01:41:22.000 Hold on, I'm literally writing this down.

01:41:23.000 So you go from scalper, which is minutes, to intra.

01:41:26.000 It's different though, because I mean like, some days are different.

01:41:28.000 Some days you can make 100k, some days you can only make 10, some days you may lose money, some days you may break even.

01:41:34.000 What's that position?

01:41:35.000 But it's all like planned a month, right?

01:41:36.000 Is what's more important.

01:41:38.000 And then right, it's time frame based.

01:41:39.000 And then long term hold at that point, buy and hold is after that, which is where I am pretty much. 0.94

01:41:42.000 Yeah, just years and that kind of stuff, like until you retire or some shit, I don't know. 0.95

01:41:46.000 Okay.

01:41:46.000 But the times where I'm scaling in pretty heavily and trading heavily are the most stressful ones.

01:41:50.000 Like for me, the easy days is when I'm having an average risk.

01:41:54.000 Like I'm risking $10,000 to make $20,000.

01:41:56.000 You know, those to me are like the non-stressful days, you know?

01:42:00.000 Okay.

01:42:00.000 Versus when I'm like super locked in, you know, I'm risking like $30,000, $40,000 to try and make $100,000, $150,000, $160,000.

01:42:06.000 More stressful.

01:42:07.000 Those are more locked.

01:42:07.000 So this is big.

01:42:08.000 So for the audience, real quick, just a recap.

01:42:10.000 So a scalper, you're in for a few minutes.

01:42:12.000 Entry, you're in for a few hours.

01:42:14.000 Swing, you're in for a day.

01:42:16.000 Position, you're in for days and or weeks.

01:42:18.000 And then after that, you got buy and hold.

01:42:20.000 Correct.

01:42:21.000 That's super long term.

01:42:22.000 So basically, just to have a more realistic approach, 100K days are not that viable.

01:42:27.000 It just depends on the person and making lures probably better.

01:42:30.000 I mean, it depends on, you know, how much capital you have in your trading account.

01:42:33.000 It also depends on how much you're risking as well.

01:42:35.000 Because, like, you can make $100K and you could do it back to back.

01:42:39.000 I've done it there as well.

01:42:40.000 But, like, my stress levels were a lot higher.

01:42:43.000 Got it.

01:42:43.000 Because, again, like, your relationship with money changes.

01:42:45.000 If you're someone who, you know, $20,000 is maybe not significant to you, it's going to be a lot easier for you to trade.

01:42:51.000 You're not going to really feel bad if you take a $20,000 loss versus you take a quarter million dollar loss.

01:42:55.000 Oh, yeah.

01:42:55.000 It's huge.

01:42:56.000 It's a big difference.

01:42:57.000 You get used to seeing that kind of money fluctuate at that point.

01:43:00.000 When you see it over and over and over again, you're not going to be too open to just closing out.

01:43:05.000 There's levels.

01:43:06.000 When you first start trading, you see a few hundred dollars in fluctuation and P&L, and then you get stopped off for $500.

01:43:11.000 If that's your normal, then that's your normal.

01:43:13.000 When you have a stop loss, it's like, okay, you know what?

01:43:15.000 It's part of the job. 0.96

01:43:16.000 Versus when you go from risking $500 a trade to doubling or tripling, now you're risking $2,000 a trade, and that first stop loss gets hit at $2,000, you're going to be like, damn, bro, that kind of hurts. 0.97

01:43:26.000 Gotcha.

01:43:27.000 Like, back in the day, like, that kind of, like, $100 loss was, like, hurting. 0.99

01:43:30.000 Like, goddamn, bro, I fucked up, you know? 0.99

01:43:32.000 Yeah. 1.00

01:43:32.000 But I think, like, over time with experience and, like, getting capital and everything else, like, you just kind of become numb to seeing red at times, you know? 1.00

01:43:38.000 And it is what it is.

01:43:40.000 Yeah, you normalize it.

01:43:41.000 Yeah.

01:43:42.000 And guys, just to recap, there's no after hours today because we're going to focus on moving to studio, so no girls for today.

01:43:48.000 Money Monday.

01:43:49.000 Yeah.

01:43:49.000 What else we got here?

01:43:51.000 I went full-time for four months and I realized I jumped in too fast without my business cash flowing enough, took the risk, it failed, and now I have 15K less than what I had eight months ago, unfortunately.

01:44:02.000 Yeah, just feeling shitty at this point.

01:44:03.000 See you at the top FNF. Shout out to you, bro.

01:44:06.000 Yeah, we've all had our days, bro, our months.

01:44:07.000 Yeah, it happens, man.

01:44:08.000 Yeah.

01:44:09.000 What else?

01:44:10.000 Derek the Trader, what percentage of your trading capital do you risk per trade and how do you calculate your percentage stop loss?

01:44:15.000 So with me, I don't really go based on percentages.

01:44:17.000 I go based on straight money, which means that if I start up with $100,000, on average, I'm open to risking 5K or 10K on average.

01:44:27.000 Until I get up to a certain point, let's say if I now grow the account up to 150, now I'm open to losing around 30K, 40K at times.

01:44:34.000 But that's just me.

01:44:35.000 That's how I work.

01:44:36.000 And I don't really go based on percentages because I feel like people that actually go just on percentages like only risking 1% and that kind of stuff, I feel like you're not really in the game to actually make money at that point.

01:44:46.000 Because only risk 1% of everything is...

01:44:48.000 It's great.

01:44:49.000 Yeah, it's kind of like it's light.

01:44:51.000 You know, it's too light to the point that you can't really expect to make a big...

01:44:55.000 Gain off of that right there, you know?

01:44:57.000 So you have to be willing to lose.

01:44:58.000 Huh?

01:44:59.000 If you want to win big, you have to be willing to lose big.

01:45:01.000 It's situational to the individual, you know?

01:45:04.000 But like, realistically, you know, you put $25,000 in your trading account, you're only risking 1%.

01:45:08.000 You shouldn't have the expectations to try and double your trading account within the same few weeks.

01:45:14.000 Which is crazy.

01:45:15.000 You know, which is crazy, but... 1.00

01:45:16.000 Damn. 0.99

01:45:17.000 Yeah. 1.00

01:45:17.000 It's all subjective to the individual. 1.00

01:45:18.000 Correct.

01:45:19.000 But I say definitely be a...

01:45:21.000 Like, if you're good at what you do, then why are you only risking 1% of that then?

01:45:25.000 Yeah, that's what I'm saying.

01:45:25.000 That's what it comes down to.

01:45:26.000 If you're so good and so confident in what you do, then why are you only risking 1%?

01:45:31.000 For me, it's different day by day.

01:45:32.000 For me, it's subjective to the type of position that I'm taking.

01:45:36.000 If I have a setup and it's a really high probability setup, then that's a setup I'm going to put way more money behind.

01:45:42.000 I might be risking 5%, 6%, 7% at times, but again, I'm...

01:45:47.000 Okay, we're taking that risk.

01:45:48.000 I know if my stop loss does get hit for that 7% gain, I know the risks I was involved when taking that position.

01:45:54.000 But at the same time, I'm risking maybe 7% or even 10% at times to try and make 20%, 30%, 40%.

01:46:01.000 It depends.

01:46:02.000 I don't want to say it's like a day-by-day thing, but it's subjective to the type of position that I'm taking.

01:46:08.000 All those people that I know that actually risk 5% and 10%, they are the ones that made the money.

01:46:13.000 Right.

01:46:14.000 You know, because they're open to the risk, and they're not scared to lose.

01:46:19.000 Alright, we got here.

01:46:22.000 That's J.Ru.

01:46:23.000 What are good ways to avoid a bull slash bear traps?

01:46:25.000 Also, aside from basic MAs, RSI, MACD, what other indicators are y'all using?

01:46:29.000 I mean, Raul can definitely agree with me.

01:46:32.000 Price action is king.

01:46:34.000 If you are only depending on all those indicators and oscillators and that kind of stuff, you're pretty much not understanding what actually moves all those, which is price action.

01:46:41.000 So, like, I feel like eventually you'll come to a point that, like, um...

01:46:44.000 You want to actually focus on just the candlestick analysis and actual raw charts because that is what actually moves all those things that you just mentioned.

01:46:52.000 Yeah.

01:46:53.000 All right.

01:46:53.000 Okay.

01:46:55.000 Cardinal Nurse says, I guess I'm going to have to drop some dollars to make these guys aware of the channel stealing their content.

01:47:00.000 Put some info on this Castle Club news feed yesterday, FYI. Someone's using our content?

01:47:08.000 YG Gotti?

01:47:09.000 Yeah.

01:47:09.000 All right.

01:47:09.000 I'll look into it later.

01:47:10.000 Yeah.

01:47:10.000 Mindful Ronan goes, Shout out to FNF. Continue doing God's work.

01:47:15.000 P.S. Don't let Q get away with being too humble.

01:47:17.000 Man took profit on a trade worth more than the cost of the average single family home in less than 24 hours.

01:47:22.000 God, forever in profit.

01:47:24.000 Shout out to you, bro.

01:47:25.000 Derek the Trader, do you guys have a daily loss limit and or weekly loss limit where you stop trading to mitigate risk on your trading account?

01:47:32.000 100%.

01:47:33.000 Good questions.

01:47:33.000 Three losses.

01:47:35.000 Three losses and I'm done.

01:47:36.000 I'm taking a break.

01:47:38.000 For me, it's less than that on a single day.

01:47:41.000 On a single day, I'm taking two losses.

01:47:45.000 That's it.

01:47:45.000 I'm moving on.

01:47:46.000 Yeah, that's it.

01:47:47.000 If you keep on going, if you're off rhythm, I feel like you'll stay off rhythm for the rest of the week.

01:47:53.000 So I feel like just even like...

01:47:55.000 Locking it off.

01:47:56.000 Like, yo, three losses.

01:47:56.000 You know what?

01:47:57.000 Let me chill the fuck out because this is going to get a lot worse. 0.78

01:47:59.000 You know what I'm saying? 0.98

01:48:00.000 So for the mental, just cut it.

01:48:02.000 Those are all things you want to include in your trading plan as well.

01:48:05.000 You know?

01:48:05.000 Okay.

01:48:06.000 Three losses.

01:48:07.000 Done.

01:48:07.000 Again, it comes to rules and discipline.

01:48:09.000 Correct.

01:48:09.000 And stick with it.

01:48:10.000 Tall Entrepreneur says, for carry trading, can you explain your approach to selecting currency pairs for carry trades?

01:48:17.000 How do you manage interest rate differentials and rollover costs?

01:48:21.000 I don't know what carry trading is.

01:48:23.000 Never heard of it.

01:48:24.000 I think he tried saying like currency trading, but I don't even trade currencies anymore.

01:48:29.000 I haven't traded currencies in like two years.

01:48:31.000 Okay.

01:48:32.000 DashJRu says, when it comes to scalping, do y'all scalp after reversals on smaller time frames or only on bigger time frame trends?

01:48:39.000 So in my personal opinion, like when you're trading with a trend alone, you're already going to have an edge in the market versus somebody who's always trying to call like a top trend.

01:48:47.000 Or a bottom, a lot of the times you're just going to be taken out of your position anyway.

01:48:50.000 So if you could trade along with the trend where the order flow is in the markets, you're already going to have an edge in the market.

01:48:55.000 Why not exploit that edge?

01:48:56.000 Okay.

01:48:57.000 Same.

01:48:58.000 And then last few here.

01:49:02.000 Is there really any point in mastering day trades when there's AI? I think in a couple years, AI will fully take over trading.

01:49:08.000 What do you think about that?

01:49:09.000 I doubt it.

01:49:09.000 But I feel like if a person is pretty much...

01:49:12.000 Well, an AI cannot make the kind of money that the human mind can...

01:49:16.000 Which means that how precise we are with our entries and that kind of stuff, I feel like it just becomes a bit more open because with the AI, it's programmed to do a certain thing at a certain time at a certain risk.

01:49:29.000 It can't actually manage the kind of leverage and that kind of stuff like how the human mind can, which means that we have a bit more control with how much money we can make versus an AI which is just programmed, which eventually fails because not every single AI actually...

01:49:44.000 It changes over time.

01:49:45.000 You gotta pretty much go back in and change it.

01:49:47.000 Market conditions will always change.

01:49:48.000 And that's the thing.

01:49:49.000 The market is always changing each and every single year.

01:49:51.000 From 2015 till now, the market has not been the same.

01:49:54.000 You know what I'm saying?

01:49:54.000 So it's changing each and every single year.

01:49:56.000 And the AI is not going to be adapting to that market condition each and every single year.

01:49:59.000 So you always gotta pretty much change.

01:50:00.000 A lot of the times, a lot of the AI is just like a very systematic approach to past market conditions and to try and replicate those market conditions in the future.

01:50:08.000 But the market conditions...

01:50:09.000 It's not as quick.

01:50:10.000 The human mind is definitely faster than an AI in that sense.

01:50:13.000 So in this case, the robots, or I want to say the AI components, aren't going to be beneficial because market changes, so you can't really rely on that.

01:50:21.000 Yeah.

01:50:21.000 Mind you, you could probably make some passive income, which is cool, but I'm talking about the kind of money that we're making and that kind of stuff, and in a way how we trade, we're scaling it, And that kind of thing.

01:50:30.000 And actually adapting to the markets quickly.

01:50:32.000 The AI cannot really do that, I feel like.

01:50:34.000 And I've seen tons of AIs.

01:50:36.000 Tons of EAs and that kind of stuff.

01:50:37.000 And I've never really been too impressed by one yet.

01:50:41.000 They make money for a certain amount of time, which is cool.

01:50:42.000 Whatever.

01:50:43.000 Then they crash.

01:50:44.000 Then you're going to have to reset it.

01:50:45.000 You're going to have to fix it.

01:50:46.000 Then run it back up again.

01:50:47.000 So I feel like if you could...

01:50:47.000 Maybe you have an AI that...

01:50:49.000 Sustainable gains, you know?

01:50:51.000 Very good.

01:50:52.000 It's a temporary solution to a long-term problem.

01:50:54.000 Yeah, like, it could make, you know, like, 3%, 2% a month and everything, which is cool, whatever, but the human is going to make a lot more than that, especially, like, on our level, at least.

01:51:02.000 Absolutely.

01:51:03.000 2% is nothing, 5% is nothing.

01:51:05.000 Yeah.

01:51:06.000 You guys are doubling your money when you guys are going in. 0.99

01:51:08.000 Yeah, at a certain time, I'll double my entire balance in one day type shit. 0.98

01:51:12.000 For me, it's a bit different. 0.98

01:51:15.000 I just focus on RR on a day-to-day basis.

01:51:18.000 I don't really focus on just trying to flip my account.

01:51:20.000 For me, if I'm going to risk $20,000, it's because I'm looking to gain $40,000.

01:51:24.000 But at a certain time, the risk is so good that it ends up doubling your account.

01:51:29.000 What else do we got here?

01:51:33.000 I've been training for five years now.

01:51:35.000 I can guarantee you for a fact that these guys made 90% of their money from courses and affiliate with Forex brokers.

01:51:39.000 I'm over here dying.

01:51:40.000 Please be careful, chat.

01:51:42.000 I mean, y'all showed their profits.

01:51:44.000 I've showed this for like nine years, bro.

01:51:47.000 It is what it is.

01:51:48.000 For anyone saying that, show your actual receipts because I see their receipts all the time.

01:51:54.000 He doesn't have any.

01:51:54.000 Do you have any?

01:51:55.000 I don't know.

01:51:56.000 I got pages and pages and pages and pages of broker withdrawals, so it's cool.

01:52:00.000 Yeah, me too.

01:52:01.000 Cam the Heart Guy goes, Q, Raul, what do you recommend for traders to build capital fast enough if they don't want to take the prop firm route, especially after what happened with MFF? Skill.

01:52:10.000 Skill, skill, skill.

01:52:11.000 It's not the capital that's a problem, it's a skill.

01:52:13.000 I feel like...

01:52:16.000 An account can always grow.

01:52:17.000 Keep that in mind.

01:52:18.000 You know what I'm saying? 1.00

01:52:18.000 You can start with a thousand dollars and then build that shit up. 1.00

01:52:20.000 Just lose as little as possible. 0.99

01:52:22.000 You know what I'm saying?

01:52:22.000 Have a good R&R and that kind of stuff and then build an account.

01:52:25.000 You don't need much to make a lot of money.

01:52:27.000 You need a lot of skill to make a lot of money.

01:52:29.000 So I feel like people tend to overthink the fact that just because they don't have capital, they have a couple hundred dollars. 1.00

01:52:34.000 You could build that shit. 0.99

01:52:36.000 $500 can easily turn to $1,000. 1.00

01:52:37.000 $1,000 can easily turn into $2,000.

01:52:39.000 Like, it grows, you know, as your skill is growing.

01:52:41.000 Especially if you, like, also deposit in your account as well as you're trading the account, it'll only grow faster, too.

01:52:46.000 Correct, yeah.

01:52:46.000 You're trading like an active investment.

01:52:48.000 Yeah, but it's a skill.

01:52:49.000 Like, trading is a skill-based thing that you could actually build capital on.

01:52:53.000 Like, you know, you don't have to have capital to trade.

01:52:55.000 You have to have a skill to build the capital.

01:52:57.000 To learn a skill, the money will come.

01:52:59.000 Correct.

01:53:00.000 And then, Osaga says, I'm going to hit you with rapid fire.

01:53:03.000 How do you feel about AI indicators?

01:53:05.000 Or can I find a mentor?

01:53:06.000 What task manager do you use for MetaTrader 5?

01:53:08.000 And can I get a $250K funded account for the loan?

01:53:12.000 How do you feel about AI indicators?

01:53:15.000 Like, buy cell indicators? 1.00

01:53:17.000 Same shit. 0.99

01:53:18.000 All indicators are laggy. 1.00

01:53:20.000 If you get focused on the key principles of price action, you'll be a lot better off.

01:53:23.000 Because then again, if you become really good at focusing on price action, that's a skill that you can build over time.

01:53:28.000 Then as you become more in sync with reading price action, you'll only get better without having to rely.

01:53:32.000 That's the foundation.

01:53:33.000 The foundation is here, and then whatever is on top of it, indicators, oscillators, and that kind of stuff, AIs, it's all on top of price action, which is the foundation.

01:53:40.000 You know what I'm saying?

01:53:40.000 So, like, people try to actually go to the second thing when they can easily learn the first thing.

01:53:45.000 The foundation.

01:53:45.000 You know?

01:53:46.000 And then they'll see that, like, you know, the indicator that's on their charts, then it's not as powerful as they think it is.

01:53:51.000 Like, when I first started trading, like, I had a ton of indicators and moving averages and all kind of shit, but eventually it became less and less and less and less, and then to the point that I need nothing on my chart to even make a decent Yeah.

01:54:03.000 All price action, eventually.

01:54:04.000 Yeah, you want to just mainly focus on price action.

01:54:05.000 I went through the same thing.

01:54:07.000 I had a bunch of indicators, and as the months and years passed, I started removing every single one.

01:54:12.000 Yeah, subconsciously, you get better.

01:54:14.000 You know what I'm saying?

01:54:14.000 You need less to actually analyze.

01:54:16.000 So learn price...

01:54:17.000 What's it called?

01:54:20.000 Oh, price action.

01:54:21.000 Understanding and reading price action is king.

01:54:22.000 Over indicators.

01:54:23.000 Yeah, 100%.

01:54:24.000 What do you find?

01:54:26.000 Next one, okay.

01:54:28.000 Can I honestly say that you give out the full sauce in your courses?

01:54:30.000 Honestly, I think most mentors give just enough in their courses and let you struggle to accept their favorite students, of course. 0.98

01:54:34.000 So, people are dumb with these kind of things, honestly. 0.97

01:54:37.000 So, the thing is this. 0.99

01:54:39.000 A person can never, ever give everything.

01:54:42.000 You know why?

01:54:42.000 Because we're still learning ourselves.

01:54:44.000 You know what I'm saying?

01:54:44.000 I'm adapting, I'm learning, I'm getting better each and every single year.

01:54:47.000 It's kind of hard to put everything out.

01:54:49.000 But, Raul would also agree that we put enough information out there within our courses to make people money.

01:54:56.000 But also that they know how to pretty much grow from that certain point.

01:54:59.000 So we're giving them a foundation plus, plus, plus, plus, plus more.

01:55:03.000 And sending you up for adaptation in the future as well.

01:55:05.000 Yeah, you have to adapt.

01:55:05.000 But even then, like, there's no such thing as, like, the sauce.

01:55:10.000 Correct.

01:55:10.000 You know what I mean?

01:55:10.000 But, like, if you want to consider, like...

01:55:12.000 Bro, everything I go over in my course is A through Z on the foundation, making a trading plan, journaling, etc, etc.

01:55:20.000 But even on my free content, I go over a lot of the core principles that my course does.

01:55:25.000 Like, you don't have to buy my course to learn from me.

01:55:27.000 It's all on my free Telegram community and my YouTube channel as well.

01:55:30.000 Like, you even literally see me trade live on YouTube channel.

01:55:33.000 Like, my latest YouTube channel video is literally me executing a position, explaining why my stop loss is here, explaining my risk behind the position, me closing out The positions and then reviewing the trades and then showing a withdrawal at the end.

01:55:45.000 Like, there's so much free content everywhere.

01:55:47.000 My thing is, like, I'll watch the free content first, gain the knowledge or understanding, and then when I can't go any further, then I'll buy the course.

01:55:53.000 Of course.

01:55:54.000 But remember, you would easily go to a club and spend $1,000.

01:55:59.000 You know what I'm saying?

01:55:59.000 True, true.

01:56:00.000 So, like, why is it so hard for a person, you think, to actually spend money towards this way versus...

01:56:06.000 Because they don't see the value in it and they think it's a scam.

01:56:09.000 Off-right.

01:56:10.000 That's why.

01:56:10.000 Yeah.

01:56:11.000 Yeah, a lot of times they don't want to do the work.

01:56:13.000 Because getting a course in itself means you have to actually do the work.

01:56:17.000 You can't just get the course and you actually have to go through it, study it, watch it back multiple times, take notes, actually apply it, learn it, and you got to watch it multiple times and people don't want to do that work a lot of times. 0.98

01:56:27.000 And our courses are long as shit. 0.92

01:56:29.000 Like they're hours upon hours. 0.99

01:56:30.000 You have mine.

01:56:31.000 They're hours upon hours upon hours.

01:56:33.000 Some people just don't want to put in the work.

01:56:35.000 But I mean, regardless, nowadays, online and social media, even if you're not in the trading industry, whatever industry you're in, the minute you have a course, you're labeled as a scam.

01:56:43.000 Yeah.

01:56:43.000 No matter what it is.

01:56:44.000 Yeah.

01:56:45.000 It is what it is. 1.00

01:56:46.000 Shit, we got a course too. 1.00

01:56:47.000 Yeah. 0.99

01:56:48.000 How are you guys backtesting your strategies and how do you avoid curve fitting?

01:56:52.000 Curve fitting.

01:56:53.000 I've never heard of that terminology before.

01:56:56.000 But overall, I feel like backtesting is definitely a part of trading overall.

01:57:01.000 You've got to pretty much go back in the past and see what you could have done to actually get into a certain trade or win a certain trade or get out earlier.

01:57:09.000 Backtesting is literally just going over what could have been or what you could have done to actually...

01:57:16.000 Do better on a certain trade and that kind of thing.

01:57:17.000 So if I do actually win a trade or even lose a trade, I gotta backtest to see what I could have done better in some kind of way.

01:57:24.000 Yeah, and for me personally, when it comes to backtesting, there's so many softwares available nowadays that will literally, you can go back at any point in time and you can do simulation trading and essentially the way I would backtest would be the same exact way my trading plan is formulated.

01:57:38.000 I would just simply apply it to previous price action data.

01:57:41.000 And then after seeing that the results have a positive expectancy, move it over To the future.

01:57:46.000 Correct.

01:57:46.000 And actually forward test.

01:57:47.000 Yeah.

01:57:48.000 Because the biggest thing is kind of like, you know, programming your mind to actually think faster.

01:57:51.000 So like when the opportunity does come up in the market again, you're pretty much already, yeah, like you understand what to do and how to do it.

01:57:57.000 And then to make it, you know, eventually play out if it all goes well.

01:58:01.000 Okay.

01:58:01.000 Yeah.

01:58:01.000 That's something where trading experience comes in.

01:58:05.000 Correct.

01:58:05.000 How important is experience in trading, you think?

01:58:07.000 It's the most important thing, right?

01:58:09.000 That's one thing that we can't teach is experience.

01:58:11.000 You have to go through it yourself.

01:58:12.000 We can teach you everything else.

01:58:14.000 But experience is the one thing that you have to pretty much get on your own.

01:58:17.000 You got to put in that chart time all by yourself and that kind of stuff.

01:58:19.000 That's all on you, honestly.

01:58:20.000 Got to do the homework.

01:58:21.000 Yep.

01:58:22.000 Okay.

01:58:23.000 And then, what's the next one?

01:58:26.000 Let's see here.

01:58:28.000 We did that one already.

01:58:29.000 Okay.

01:58:30.000 Mad respect to you guys.

01:58:31.000 And guys, we've got to close this thing out.

01:58:32.000 So we'll answer these that came in.

01:58:34.000 Mad respect to you guys for getting some traders on after I asked two weeks ago.

01:58:37.000 Question, what brokers would you guys recommend?

01:58:39.000 And what are some tools you recommend to help with Forex trading?

01:58:42.000 Thank you, FNF. So I guess for Forex trading, he's asking for the brokers.

01:58:45.000 I mean, if you follow us, then I'm pretty sure we'll mention the brokers that we use.

01:58:49.000 I just don't want to put it all out there.

01:58:50.000 But at the same time, if you...

01:58:52.000 Follow us on IG and YouTube and that kind of stuff.

01:58:54.000 We'll mention it.

01:58:55.000 But it's also based on the kind of features that you're looking at for a broker.

01:58:58.000 So it can be leverage.

01:58:59.000 It could be the deposit methods.

01:59:01.000 It could be all kinds of different things.

01:59:03.000 What software they actually offer.

01:59:04.000 So it's all on you.

01:59:05.000 But we definitely use brokers that are pretty much beneficial to how we trade.

01:59:08.000 And that's it.

01:59:09.000 Can you give one?

01:59:11.000 I don't want to put it out there.

01:59:13.000 It depends.

01:59:13.000 I mean, you have MetaTrader, you have Ctrader.

01:59:15.000 It depends.

01:59:16.000 You have TradeLocker now, which is my trading platform that pretty much...

01:59:19.000 It's like a new modern trading platform.

01:59:23.000 You have MT4 and MT5, but then TradeLocker is now a part of that conversation now.

01:59:28.000 I think I have MT5 currently.

01:59:31.000 Guys, we got 1.3k likes, man.

01:59:35.000 Do me a favor, get us a 2,000.

01:59:36.000 At least we got over 2,000 y'all watching on YouTube and I think another 5 or 6 over on Rumble.

01:59:41.000 Luka, yo Raul, how can we join your mentorship program?

01:59:45.000 I appreciate what you guys do.

01:59:46.000 So, I mean, me personally, I don't always have it open.

01:59:50.000 I don't always have it available.

01:59:51.000 And then when I actually do open it up, I'll only accept 100 people to come in.

01:59:55.000 And I do that because I only want people who are actually going to take it serious.

01:59:58.000 I'm not putting hours upon hours upon hours into my mentorship program for people just to not take advantage of it.

02:00:04.000 Because at the end of the day, I want hardworking individuals that I'm going to help transform their lives.

02:00:07.000 And then they're going to blame you when they're not successful.

02:00:09.000 Exactly.

02:00:10.000 That's the worst.

02:00:10.000 You know what I'm saying?

02:00:11.000 And again, it's like the quality of individual and the entry level as well.

02:00:15.000 Someone who pays X amount of dollars versus 50 bucks is going to be a lot more invested into the program than that.

02:00:20.000 But I mean, right now, I just currently have a waitlist.

02:00:22.000 Then after the waitlist, we're going to send everyone in the waitlist applications.

02:00:26.000 You then have to apply.

02:00:27.000 And then after you apply, you'll get an acceptance or down email.

02:00:31.000 But realistically, like we said, probably like 80% of people that actually do apply, then you just have to be one of the lucky 100 to actually join.

02:00:36.000 Is yours closed all the time or is it open?

02:00:38.000 It's open, actually, because it's a platform that's self-sustaining.

02:00:41.000 So, yeah, it's there.

02:00:43.000 It's 130 hours worth of content on there.

02:00:45.000 So, yeah, it's like a four or five month commitment overall to actually complete the course.

02:00:50.000 Well, again, once you learn the skill, you can get your own fish.

02:00:53.000 Yeah, exactly.

02:00:54.000 And I'm still active within my platform itself, but at the same time, people, they take their time and they study at their own rate and that kind of thing within my course.

02:01:03.000 And then last few here.

02:01:05.000 Masculinity Archive says, thoughts on Snapchat stock viability?

02:01:09.000 Having a tough time understanding tech stocks should be avoided and pursued during this market correction.

02:01:14.000 Snapchat stock viability.

02:01:16.000 I mean, for me personally, if you're having a tough time understanding these tech stocks...

02:01:22.000 If you're having a tough time understanding these tech stocks, why trade tech stocks then?

02:01:25.000 If you don't understand what you're actually doing.

02:01:27.000 It doesn't make any sense.

02:01:31.000 Alright, so understand it before you trade it.

02:01:34.000 7yuli7 says, what's your take on the MFF situation?

02:01:38.000 This is what they talked about earlier, right?

02:01:40.000 Same one, right?

02:01:41.000 We talked about that, my man.

02:01:43.000 You might have asked it before.

02:01:44.000 And the last one here, Kyoshin24.

02:01:46.000 Hey guys, what's good?

02:01:48.000 I've been studying Forex trading for about six months.

02:01:49.000 I think I'm ready to start trading.

02:01:51.000 Should I start now or wait a little bit then start?

02:01:53.000 Thank you guys.

02:01:53.000 Much love.

02:01:54.000 No homo. 1.00

02:01:55.000 If you never start at some point, you're never going to gain the experience because experience is literally every single thing in trading and it's all about trial and error, in my opinion.

02:02:02.000 So you have to just get started.

02:02:04.000 Do what they said, man.

02:02:05.000 Trade a less volatile pair.

02:02:06.000 What was it?

02:02:07.000 AUD-USD? AUD-USD, yeah.

02:02:10.000 You can also enter the most minimum position size and be risking a dollar a pip.

02:02:16.000 Not even a dollar a pip.

02:02:17.000 You can be risking a cent a pip to mitigate your risk, but it's just about the action of actually trading.

02:02:23.000 All right.

02:02:24.000 At that point, it's practice.

02:02:25.000 Get some confidence.

02:02:26.000 Some small wins will lead to more confidence, which will let you risk more.

02:02:29.000 Get some big wins, it'll give you more confidence.

02:02:31.000 Correct.

02:02:31.000 All right.

02:02:32.000 Cool.

02:02:34.000 And last thing for me here, how has trading changed your life, family-wise, investment-wise, lifestyle-wise?

02:02:41.000 I think it's just, it kind of just put things in perspective of like, you know, things, anything that's possible that you put your mind to and your effort to.

02:02:47.000 But also like trading had gave me the ability to actually, you know, have my time freedom, have my financial freedom, but also being able to actually put people on to actually, you know, do the same thing as well.

02:02:56.000 You know what I'm saying?

02:02:57.000 Family-wise, my family's good.

02:02:59.000 You know what I'm saying?

02:02:59.000 Like, I'm like one person that...

02:03:01.000 That could actually change that dynamic of how my family sees finances and online money and that kind of thing also, which is pretty cool.

02:03:09.000 So I think it'll change drastically.

02:03:11.000 It was a complete 360 overall compared to how it was before I started.

02:03:16.000 All right.

02:03:17.000 Roe?

02:03:18.000 What was the question?

02:03:19.000 How has trading changed your life, family-wise, lifestyle-wise?

02:03:23.000 I mean, me personally, like, I'm the only person that's ever traded in my family, so it's a very different route.

02:03:27.000 You know, they wanted me to kind of go, like, the college route, get an education, and then, you know, do the whole regular thing.

02:03:33.000 I don't want to say 9 to 5.

02:03:34.000 So you're like the black sheep? 0.96

02:03:36.000 Well, Spanish sheep. 1.00

02:03:38.000 Yeah, in my family, yeah.

02:03:40.000 I mean, in my family, everyone's school, everyone's college, you know, everybody got a job.

02:03:46.000 The only people that actually were entrepreneurs in the space was my dad and my grandpa, right?

02:03:52.000 But they all went to school and they did their whole thing.

02:03:55.000 So me personally, like...

02:03:56.000 When I was going to college studying business administration, I was also trading around the same time.

02:04:00.000 It's like, I completely dropped that because I asked my business teacher if he's ever owned a business and he said no.

02:04:06.000 Right?

02:04:06.000 So I was like, bro, if you've never even owned a business, you have no skin in the game.

02:04:09.000 I'm not going to listen to you.

02:04:10.000 So that's when I went full time into trading and they were like a bit worried at first, you know, because it was just new to them.

02:04:16.000 It's a new thing.

02:04:16.000 Yeah.

02:04:17.000 Yeah.

02:04:17.000 Right, but after I started to be able to sustain my own, and that's when they went full in for me.

02:04:24.000 So, I mean, personally, how it's affected me and my life, it's affected my life for the better, and it's allowed me different opportunities to actually make enough income to be able to invest in either a different business or to be able to go out, purchase whatever I want, or to be able to just make any type of investment that I want to in general.

02:04:40.000 And it's also, over the years, shifted my complete mindset about what finances actually are as well.

02:04:45.000 Right, it's powerful.

02:04:46.000 And guys, Last thing for me as well, and then where to go find you.

02:04:49.000 What do you invest in now other than trading?

02:04:51.000 What are your other investments?

02:04:53.000 So, over the last, like, two years, I've just recently been starting to get into, like, more property.

02:04:58.000 So, my first, like, kind of, like, big breakthrough with property, essentially, is when I first bought a house.

02:05:04.000 This was around COVID time.

02:05:05.000 I bought a house for...

02:05:07.000 8.30, put some money into it, and I sold it for a mil.

02:05:09.000 And that's when I realized the power behind real estate and investing in property.

02:05:14.000 Then at 10.31, exchanged it, moved it over into another house where I bought that house for 1.4.

02:05:20.000 I dumped a little bit of money into it, and I sold it for $2 million.

02:05:25.000 1.4 to $2 million.

02:05:27.000 And that completely blew my mind.

02:05:30.000 So nowadays I really want to just start investing a ton of money into real estate and really building as much passive income as possible because that's income that's not going to disappear because people are always going to need a place to live.

02:05:42.000 I don't think I want to get into commercial.

02:05:43.000 But definitely want to get into residential, you know, especially like pre-construction where we go in, we buy a building, or we essentially buy a plot of land, put a building tree. 0.91

02:05:52.000 You're going to go the whole full rehab and the building shit. 0.98

02:05:55.000 Okay. 0.99

02:05:55.000 You got like contractors ready? 0.99

02:05:57.000 Oh yeah.

02:05:57.000 Okay.

02:05:58.000 A lot of work.

02:05:59.000 A lot of work.

02:05:59.000 A hundred percent.

02:06:00.000 Thank you.

02:06:00.000 That's where a lot of my trading income is going to be put towards nowadays.

02:06:04.000 That's like the freedom.

02:06:05.000 That's the freedom behind it.

02:06:06.000 WRO. And then Q, you made a whole complex yourself.

02:06:09.000 You built your...

02:06:10.000 A whole compound.

02:06:11.000 Yeah, yeah, yeah, man.

02:06:12.000 That's like my first...

02:06:14.000 Big real estate investment that I actually did.

02:06:17.000 That's probably now worth, like, three times the amount of money that I actually paid for it, which is crazy.

02:06:21.000 So, I mean, like, ever since then, I've always been kind of sketchy on the sketch side about the real estate stuff because it's so slow.

02:06:28.000 But at the same time, it's, like, a guarantee type of thing, I feel like.

02:06:31.000 You know what I'm saying?

02:06:32.000 Because, remember, like, we trade, so, like, we see, like, the gains and everything very, very quickly.

02:06:36.000 Yeah, yeah, yeah.

02:06:36.000 So, when it comes to real estate, I was like, ugh.

02:06:38.000 But I actually enjoy it, though.

02:06:40.000 So, I have a couple...

02:06:42.000 Properties and that kind of stuff.

02:06:43.000 The compound was my first big property that I actually purchased.

02:06:45.000 I have a couple condos and that kind of thing also.

02:06:48.000 We're trying to buy an apartment complex right now too, me and my partners.

02:06:52.000 But I'm just starting to get comfortable with real estate, honestly.

02:06:56.000 Because it's so different.

02:06:58.000 But I think it's one thing that is never going to fail.

02:07:00.000 You know what I'm saying?

02:07:02.000 I know that you're very big into the properties and that kind of stuff.

02:07:07.000 Yeah, residential real estate.

02:07:08.000 I think it's the best asset class from a tax perspective, etc.

02:07:12.000 But you're not going to make money as quickly as you guys are doing.

02:07:15.000 That $100K will probably take you a year to appreciate in a really good market on a good year.

02:07:20.000 Yeah.

02:07:20.000 But nowadays, I feel like it's very important to actually get into those big properties now because, I mean, taxes, bro.

02:07:25.000 You know what I'm saying?

02:07:26.000 Yeah.

02:07:26.000 So we have to make sure that that's actually taken care of.

02:07:28.000 That's the biggest reason.

02:07:29.000 To be honest with y'all, it's really the tax savings why real estate is so good.

02:07:33.000 It's not even the earnings like that.

02:07:34.000 It's because you have to buy so much property to get that really good passive income.

02:07:37.000 It's the tax mitigation that saves you.

02:07:39.000 Yeah, man.

02:07:40.000 And like I said, me and my partners and everything, we're trying to actually buy some property in the Wynwood area also and that kind of stuff.

02:07:46.000 That's going to be expensive.

02:07:47.000 That alone is going to be very expensive, but at the same time, long term.

02:07:51.000 It could be worth it.

02:07:52.000 They're selling lots for millions right now over there in Wynwood because they know that whole area is about to be gentrified.

02:07:57.000 Empty lots, right?

02:07:58.000 Yeah, empty lots.

02:07:58.000 That's crazy.

02:07:59.000 We're trying to buy an old building and that kind of stuff.

02:08:01.000 They're trying to turn Wynwood into the new trendsetter, hipster brickle.

02:08:06.000 No, no.

02:08:06.000 It's on the way.

02:08:07.000 It's on the way.

02:08:08.000 So it's not like it's nowhere close.

02:08:09.000 It's definitely on the way, honestly.

02:08:10.000 I love that area.

02:08:11.000 Next five to ten years, it's absolutely going to be the new Brooklyn of Miami. 0.88

02:08:17.000 But yeah, guys, Fresh, you had anything else?

02:08:20.000 That's it for me.

02:08:21.000 And I just got to say this, man.

02:08:22.000 Thank you for coming, guys, because I know you guys have a busy schedule playing golf and traveling the world.

02:08:27.000 I gave a lot of sauce on this.

02:08:28.000 Kind of.

02:08:30.000 Where can I find you guys for mentorship?

02:08:32.000 Well, my main thing is on Instagram at QBanks.

02:08:35.000 Pretty much in my bio, I pretty much have all the things that I'm linked to.

02:08:39.000 It could be like my educational platform, things like my YouTube channel and that kind of stuff.

02:08:43.000 It's all going to be on my Instagram profile.

02:08:44.000 C-U-E-B-N-K-S QBanks. 1.00

02:08:46.000 Alright.

02:08:47.000 Yeah, for me, it's Instagram and YouTube.

02:08:49.000 Instagram, just Lambo Raul.

02:08:51.000 YouTube is at Real Lambo Raul.

02:08:53.000 And again, you can find a free ton of free educational content on trading just on my YouTube channel alone.

02:08:58.000 And my YouTube channel will also redirect you to my free Telegram room where I post weekly free educational content as well.

02:09:04.000 All free.

02:09:05.000 You know how we mentioned the free stuff first, right?

02:09:07.000 Yeah.

02:09:07.000 Yeah, because, listen, we give out a lot of value.

02:09:10.000 Yeah, yeah.

02:09:10.000 Obviously, we have our courses and that kind of stuff also, but at the same time, we also make sure that people that don't want to invest in that.

02:09:16.000 Y'all didn't even pitch their courses for all the haters that are saying, like, they're going to pitch their course now.

02:09:20.000 No, I never.

02:09:21.000 I haven't pitched my course in months, you know what I'm saying?

02:09:24.000 People still enroll every day, but at the same time, that's because people see the value, but people be people.

02:09:31.000 They didn't even mention their course one time.

02:09:33.000 Y'all mentioned it more than they did, bro. 1.00

02:09:35.000 What the fuck, man? 0.99

02:09:36.000 I don't even have mine available to always purchase, either. 1.00

02:09:41.000 It is what it is, man.

02:09:42.000 Hey, go check them out, guys.

02:09:43.000 Some of the best in the game.

02:09:44.000 We'll catch you guys on the next episode.

02:09:46.000 I think next time you guys see us, we'll probably be in the new studio.

02:09:49.000 Love you guys.

02:09:49.000 Peace.

02:09:56.000 We're good to go.

Fresh & Fit - September 25, 2023

How to Become A Millionaire With Trading w- Cue Banks And Lambo Raul

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Transcript