0:00 what is Good Guys welcome back uh
0:02 welcome to boot camp I believe day 13.
0:06 um hopefully you guys are ready to get
0:07 into some disciplined stuff and uh for
0:10 most you guys today is going to be
0:12 relatively easy for others
0:15 um you know you might be able to learn a
0:16 little bit more but
0:19 today we are going to talk about
0:20 something very basic which is just risk
0:24 management and really the first part
0:26 about risk management in
0:29 um uh in just trading uh and that is
0:33 literally how much you are risking
0:35 because when people say risk management
0:37 is the most important thing
0:40 they're you know like it's it's true but
0:43 also like
0:45 it's it's the most important thing
0:48 because of how hard it is due to all the
0:52 other emotions so in this video we're
0:55 going to talk about what risk management
0:57 really is which is literally just how
1:00 much to risk and when to risk it
1:04 um and all those other emotions and
1:07 things that we have to deal with that
1:10 comes from discipline um so when people
1:11 say yeah risk management is the most
1:13 important thing they it's not wrong but
1:16 it's
1:17 um
1:18 this thing on
1:20 um yeah it's not it's not wrong but it's
1:22 also I guess just not phrased the right
1:25 way I would say discipline is the most
1:27 important thing and just having a stable
1:30 um and strong like headspace is is the
1:34 most important thing and not many people
1:35 have that uh you know believe it or not
1:37 in this world and you tend to find that
1:39 you know you find someone that's super
1:41 disciplined they're making a lot of
1:42 money same thing applies to trading if
1:44 you're super disciplined that money will
1:46 come
1:47 um just like with any other job right if
1:49 you put in the work the money will come
1:51 right back to you
1:52 um you know you just got to do the right
1:54 stuff and don't slip up okay so today
1:58 it's going to be relatively quick video
2:00 but it is very important if you don't
2:02 know anything about it and like I said
2:05 um all over Tick Tock and like I've said
2:07 at the beginning we are doing this from
2:08 scratch so this is essential for me to
2:10 mention
2:12 um especially because I feel like a lot
2:15 of you guys come into this thinking
2:18 you are going to make 100K in your first
2:21 year I hate to ruin your dreams I hate
2:24 to break it to you bro
2:30 you're not gonna make [ __ ]
2:33 you're going to lose money probably in
2:36 your first year probably in your second
2:39 year
2:39 imagine this is like college tuition
2:41 you're paying you're paying for the
2:43 lessons Okay so how can we make it so we
2:47 lose the least amount of money because
2:50 it's kind of impossible to to just start
2:54 off OfferUp even if you've been trading
2:56 on demo even if you go from demo
2:59 profitable on demo to live there is
3:01 going to be an in-between where you are
3:03 losing money
3:05 um
3:06 just because your emotions it's it's so
3:08 hard and that's why half of this literal
3:10 boot camp is all dedicated to emotion so
3:13 hopefully we can start nipping those
3:14 things in the ass and you know like cut
3:16 out a lot of these problems that you'll
3:18 face along the way as long as you guys
3:19 listen as long as you listen Okay so
3:23 today what are we talking about we're
3:24 talking about risk management how much
3:26 you should risk per trade and that's
3:28 about it and how often you should trade
3:30 because that's really all risk
3:31 management is right what are we doing
3:33 managing our risk how do we do that
3:34 understand what we're risking and
3:36 understand not to overdo it okay so how
3:39 can we do that what I like to do very
3:42 simple okay risk one to three percent of
3:45 your account
3:48 and that's it okay you're risking one to
3:51 three percent of your account size per
3:53 trade okay and depending on if you do
3:56 Futures if you do options if you do
3:58 Forex there's a bunch of different ways
4:00 to calculate this and figure out your
4:02 risk
4:03 um and it's relatively easy on all of
4:05 them and a little simple Google search
4:08 can help you out how do I risk one
4:10 percent of my account doing options with
4:13 this stop loss how do I risk one to
4:16 three percent of my account doing
4:18 futures
4:20 with you know a two-point stop loss with
4:24 a five-point stop loss with a ten point
4:25 stop loss right how do I calculate you
4:29 know how do I figure out one percent
4:30 risk on this account size with this pip
4:34 stop loss for Forex for example okay
4:36 simple Google search or literally just
4:38 looking up lot size calculator position
4:40 size calculator all of those things work
4:44 um that's not for me to do that's for
4:46 you to do that's your homework there you
4:48 go that's one step of your homework okay
4:50 you can figure out where you can find
4:53 out to calculate that that's not what
4:55 I'm here for Google can do that in two
4:57 SEC seconds and I'm not going to waste
4:58 my time explaining that so that being
5:01 said you're going to risk one to three
5:03 percent of your account why are we doing
5:04 this well let's think about it logically
5:07 right if we are risking one percent of
5:09 our account per trade that means we
5:10 would have to lose a hundred trades in a
5:12 row to lose that account completely will
5:15 that happen rarely right you may be
5:18 asset trading but you will probably get
5:22 at least like two out of your ten trades
5:25 say it take profit
5:27 um whether it's from luck or just
5:30 yeah it'll probably be from luck if
5:32 you're a terrible at trading right
5:34 um so right it's pretty much impossible
5:37 to blow your account risking one percent
5:40 per trade because that pretty much means
5:42 you would have to lose 100 trades in a
5:45 row and you aren't going to do that and
5:47 then from there it's like okay let's say
5:50 like even then like let's say you're
5:52 losing 80 of the time if you're only
5:54 risking one percent
5:56 then like
5:58 you know at the end of the year you'll
6:00 still have 20 of that account left and
6:01 that's still money that you saved right
6:05 instead of blowing all of it in two
6:07 weeks and then having to refund it right
6:09 so let's think about this logically
6:11 would you rather be able to keep the
6:13 initial account that you started with
6:15 or
6:17 or would you rather keep having to fund
6:20 that same amount of money that's in your
6:22 account right now every [ __ ] week
6:24 because you keep losing it
6:27 all because you want to get rich quick
6:28 and we know damn well you aren't right
6:29 we talked about this at the very
6:30 beginning you will not get rich quick
6:32 doing this get that [ __ ] out of your
6:34 head
6:37 okay get it out of your head and once
6:39 that's gone say okay cool I'll get rich
6:41 slow relatively slow right
6:45 um so I'll get risk slow how do you do
6:47 that by risking one to three percent of
6:49 your account okay what else does this
6:52 mean this also means okay yeah we're
6:55 risking one percent per trade that means
6:57 it takes 100 trades for us you know to
7:00 lose everything however
7:02 what happens if you take 100 trades in a
7:04 day that means that account will be gone
7:06 in a day and we can't risk that we can't
7:08 this is a risk on Marketplace this is a
7:11 risk on asset this is a risk on job okay
7:13 if you if you are the type of person
7:17 that needs instant gratification and you
7:19 need it every second of the day this is
7:21 not for you because with trading you
7:24 literally
7:25 trading is not what people painted out
7:27 to paint it out to be trading is waking
7:31 up and doing something emotion like
7:34 without emotion
7:36 and and you have to you have to be able
7:39 to make up to upwards of 60k in a day
7:42 and be emotionless and also lose you
7:46 know up to like 20 I lost like 27k like
7:49 two weeks ago in one trade in a day
7:52 and you have to be emotionless because
7:54 the second the second your emotions
7:56 plug-in boom you're [ __ ] that account
7:58 consider that gone literally considering
8:00 gone the second you start over trading
8:02 the seconds you start taking more than
8:04 the set amount of Trades that you wanted
8:06 to take per per day
8:08 the minute you start doing more than
8:09 that
8:10 that's when you screwed the minute you
8:12 start risking more that's when you're
8:14 screwed and you're probably thinking no
8:16 no that's not going to be me it's not
8:17 going to be me I'm going to follow tjr
8:19 it's trust me you will make this mistake
8:21 without a doubt but again remember what
8:23 we said last time last last discipline
8:26 class
8:27 understand when the mistake happens and
8:31 never do it again right it's like
8:33 imagine you have the best the best job
8:35 in the world and you have a boss and
8:38 you're getting paid millions of dollars
8:40 a year
8:41 and you [ __ ] up you make a mistake and
8:44 your boss comes to you and says I can
8:47 fire you right now or I'll give you one
8:50 more chance but you can never make this
8:52 mistake again
8:54 right
8:56 never make that mistake again because
8:58 this is literally the exact same
9:00 situation because you are literally on
9:02 Pace
9:04 to pretty much an infinite source of
9:07 money with this skill
9:09 as long as you follow these damn rules
9:11 because think about it this way if you
9:13 had two hundred thousand dollars in your
9:15 trading account would you be trading the
9:17 way that you are now
9:19 would you be risking 20 to 30 per trade
9:22 would you be risking your entire account
9:24 on a trade would you be taking 10 trades
9:27 a day and would you be okay with losing
9:29 10 trades every single day with that
9:31 high of a risk
9:32 you probably wouldn't especially if it
9:34 was two hundred thousand dollars
9:36 and you're probably saying tjr my
9:38 account's not at that size right now I
9:40 know it's not at that size
9:42 but you have to treat it as if it is at
9:44 that size because that's just like you
9:46 know some [ __ ] ass kid in high school
9:48 or in college saying I don't got to do
9:51 this I don't got to do that I'm not in
9:52 the NBA yet well how the [ __ ] do you
9:54 think you're going to get into the NBA
9:56 how how the [ __ ] do you expect yourself
9:59 to get to that point if you can't even
10:02 act and hold yourself like the people
10:04 that that are already doing that are you
10:07 know how do you expect to get there you
10:09 really think you're going to do it a
10:11 different way you really think of all
10:12 these people that are doing this
10:13 successfully you really think that you
10:15 can do it a different way
10:19 right let's let's think about this okay
10:22 so
10:24 now that we understand all that
10:26 perfect
10:28 [ __ ] stick to it that's what risk
10:30 management risk management is clap it up
10:33 you figured it out you're done
10:36 now you just gotta stick to it and
10:38 that's the hard part so
10:41 super [ __ ] easy video today write
10:44 down in your notes risk management what
10:46 am I risking one to three percent per
10:49 trade
10:50 how many trades am I taking per day
10:54 this is what I would like to say risk
10:57 one to three percent of your account per
11:00 day
11:01 that just makes it easy that makes it
11:03 the easiest thing possible because then
11:05 it's like okay I can take
11:09 two trades with 1.5 risk
11:12 or I can take one trade with one percent
11:14 risk I can take one trade with three
11:16 percent risk I can take three trades
11:18 with one percent risk
11:20 either way you're still within that
11:22 threshold
11:24 and you can take you know one or two
11:26 setups right if you see two setups for
11:28 the day perfect and guys the nice thing
11:30 is you're not always going to see
11:32 multiple setups every day you know who
11:34 knows some days you might not see any
11:35 setups and you risk zero on the day
11:37 other times you see two setups and you
11:39 wanna you know go heavier on the wrist
11:41 because all the biases are aligning
11:43 right and that we'll cover that in this
11:45 course as well but for risk management
11:48 one to three percent a day because all
11:52 you're doing here is living to trade
11:54 another day if you can live to trade
11:55 another day there will always be setups
11:57 tomorrow this Market is not going
11:59 anywhere this Market's not going
12:01 anywhere so stop trying to rush the
12:03 process drop like you guys realize
12:05 you're trying to go from zero to 100K in
12:07 under a month do you realize how [ __ ]
12:10 stupid that sounds you are
12:12 me okay that's you that's you it is you
12:15 okay that is that is you if you think
12:18 that is possible if you're the if you
12:20 are a child
12:31 I can't wait to watch it tomorrow I
12:33 can't wait to watch tjr's video today
12:36 I can't wait to become a millionaire in
12:38 two days
12:40 that's you
12:41 if you're watching this saying
12:44 yeah I'm trying to be a Million Dollar
12:46 Trader by the end of this year you're a
12:48 come on guys let's be ambitious
12:53 let's be slightly over over ambitious
12:57 let's not and I didn't even want this
12:59 [ __ ] ass gum I was just trying to be
13:01 like you
13:02 um
13:04 let's be
13:06 slightly overly ambitious
13:09 let's not be [ __ ] Liars okay
13:14 um I don't want this [ __ ]
13:19 okay
13:21 let's be let's be smart about this all
13:23 right and under understand that this
13:25 will take time okay the money's not
13:28 going to happen in one day but again
13:30 think about what we've said previously
13:32 we are here to learn the skill initially
13:35 the money will come and that is very
13:38 very difficult for Traders to understand
13:40 especially new Traders or Traders people
13:42 learning how to trade
13:44 they want money first
13:47 and that's it they don't they don't even
13:49 think about the skill they're just like
13:50 me want money give give it okay [ __ ]
13:55 you won't get it okay you're not you're
13:59 not going to get that money because you
14:01 could give a [ __ ] about learning the
14:02 skill all you want is the [ __ ] money
14:04 why don't you dedicate instead of
14:06 dedicating your life to I want to make
14:07 money
14:08 dedicate this [ __ ] to I want to actually
14:11 learn how the [ __ ] these charts move
14:13 because once you understand that
14:16 money is [ __ ] Limitless if you know
14:19 where a chart is going to go that
14:21 literally
14:22 is is a is literally showing you where
14:27 the economy is going in terms of like
14:29 the S P 500 or literally the dxy if you
14:33 can read that chart you have Insider
14:35 information
14:36 and that it that in itself is an
14:38 infinite money glitch
14:40 and that's what you have to understand
14:41 it's the skill that's the glitch
14:44 it I don't know I don't know what you
14:47 think I don't know what you think you
14:50 know your [ __ ] ass over leverage
14:52 [ __ ] trades are gonna do they won't
14:54 do [ __ ] you're you're banking you're
14:56 you're over leveraging and over trading
14:58 Banking and hoping that you can get one
15:00 trade to hit one trade to get you out of
15:02 the fat ass hole that you've been in
15:04 news flash buddy you're digging it
15:06 [ __ ] deeper with every single one of
15:08 those that you take because guess what I
15:10 was there too and I went to bro
15:13 I was in so much [ __ ] debt I was in
15:15 so much debt because of that [ __ ] it was
15:17 terrible I was literally indebted to
15:19 friends
15:20 that is never a fun thing
15:23 and Shout out those people for not
15:26 literally like beating my ass over the
15:29 money because it took me a while to get
15:31 it back to them
15:33 um so yeah don't fall into the stupid
15:37 ass trap of thinking you're going to get
15:38 rich quick and risking a lot this is a
15:41 risk on game and there's no point in
15:43 risk putting risk on when you don't when
15:46 you don't even know how to do this so
15:48 this is very important that we're
15:49 getting this out the way early on
15:51 because
15:53 [ __ ] man uh you guys would have been
15:56 [ __ ] you guys would have been like
15:58 perfect I know how to trade let's put a
16:00 thousand on this [ __ ] and it's like all
16:02 right I failed you right so before we
16:06 even teach you guys when to enter a
16:08 trade
16:09 let's understand what we're entering
16:11 with and why we want to do so okay so
16:14 hopefully you guys understood that from
16:15 the video and we have a nice little
16:20 dildo
16:22 um here for me to speak into now so
16:25 maybe the audio is clear maybe and is
16:29 the video clear uh I didn't do a face
16:32 cam but I tried like
16:34 different settings I don't know
16:36 hopefully it worked out if not
16:38 I'm sorry
16:40 um but anyways I'll see you guys
16:41 tomorrow peace out
16:42 I want to eat your ass
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