This presentation outlines essential trading tools and strategies for beginner traders, emphasizing the importance of a structured approach, practice, and the right resources to navigate the complexities of the financial markets and prepare for live trading.
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Okay, welcome to tonight's presentation
guys. Uh top trading tools that
beginners must know. So the presentation
is geared towards beginning traders that
want to get started and they want to
understand uh what tools they need to
have in their tool belt to get going,
right? To have the best experience
possible and be ready uh to eventually
the goal, right? The goal eventually is
to start your live account, right? Start
your broker, set up a professional
platform like Dash Trader Pro and be
prepared with all the tools you need to
get going, right? Um, so we'll talk a
little bit about some of the tools and I
as I was putting this presentation
together, you know, and I know I'm
biased to Train Terminal, of course, I'm
very biased because it's part of our
tool. We've done an amazing job because
I was comparing what when I started
trading back in 2017 and man, all the
tools that we have in Trading Terminal
were all over the place, right? I was
going to different places to get those
tools. And I'll have a slide towards the
end talking about budgets and stuff like
that. Uh, it added up. It add up pretty
nice. I was paying for all these
different platforms and it it got
expensive very very quickly, right? Uh
plus you have to go to different places
to get like the I never used the bookmap
until now, which again is becoming an
amazing tool. Um but the to get the
replay to be able to get um all these
other tools, it was not uh it was not
ideal. So um Andrew's done an amazing
job with this trading terminal. is going
to continue to do it cuz he he's he's so
focused in what uh this can be for
traders, especially new traders starting
out, right? And that's the point to get
new traders all the tools up ahead and
in front and center so they can be able
to uh get everything coordinated. Um all
right, so quick disclaimer. I'll leave
this up on the screen. A lot of you
guys, if you've seen any presentation
from us, you're very familiar with this
disclaimer. And we'll jump right in. For
those that don't know me, um who is this
guy? Uh my name is Cos Moretta. I'm one
of the moderators here at Bearoo Traders
and uh prior to trading I used to work
for an operations company. Um and I was
there for 12 years and the only reason I
left that company was because they had
relocated to they were going to relocate
to Kentucky and you know they were they
were asking people hey do you want to go
down and move? We basically bought out
GE appliances right so GE separated
their businesses into different
categories. The profitable business is
the the aviation stuff. that stuff they
kept. Uh, but they outsourced a 20-year
license to Hire America, which is a
Chinese company. And I was just not
going to relocate. And this is a job,
guys. I'm telling you, I love this job.
Started their entry-level processing
orders for big companies like Walmart,
Target, Staples, uh, all the all the
names you could possibly think of. We
did business with them and it was a
great job. Moved all the way to
operations manager. Um, had a team about
20 20 people or 22 people under me,
about three different departments. And
it was it was a cozy, beautiful job. I
love what I did. Uh and will have never
left this job to to try day trading. But
they gave me a two-year notice that,
hey, we're going to move shop. Um you're
welcome to come. They gave me a nice
stay on bonus. I was there for 12 years.
I also had vacation time. All kinds of
uh you know uh um benefits for me to
stay to the end. And the end was 2017.
So uh during the summer of 2017,
basically my job was already transition,
right? I was just there in case
something went wrong. They knew, hey,
call this guy. he'll figure it out. Um,
that was basically my role. So, a lot of
that did not happen. Um, my voice is
breaking. Uh, oh, let me I'll reset the
mic. Anybody else having the same problem?
problem?
Okay. So, in that case, um, just refresh
uh refresh the browser and you should be
okay. But my mic does like to the cable
does like to act up a little bit. So, if
something happens, let me know. Okay.
Um, and where I left off. Uh, so yeah.
So basically I'm like, "Okay, I got to
do something with my time. I'm coming to
an office to get paid." And at first
that was fun, but after uh three months,
it got really boring. Humans are not
meant to just do nothing. And I was
really coming into an office just to
collect a check. And it it got it got
pretty crappy pretty soon. So I started
looking into what I can do with the
time. I found trading before I found
Babu Traders or Trade of Vancouver
Traders at that time. I started to um
you know, just dabble in with Think or
Swim and and and man, what a mess. lost
$700 like my first week and I was like,
"Okay, I need to slow down and and
really get some education." That's when
I ran to Andrew's book and uh did
simulation based on what Andrew was
teaching at that time uh for about 7
months starting 2017, right? Um started
with uh uh live trading on 2018. Uh so I
went live January 2018, my job finished
in 2017, so it was a clean cut off and
became a moderator of the community 2019
just helping out, answering questions.
Andrew said, "Hey, you want to come on
board?" I'm like, "Yeah, sure." Right
now, um, and from there, the rest is
history. Uh, my two strategies, if
you've seen any of my live trading with,
uh, in on YouTube, is the fiveminute RB
um, breakout and also the VWAP breakout.
These are my two favorite strategies,
right? Uh, have you left your job after
joining? Uh, I left. No, it was my my
job again. They they uh they laid me off
2017, so I left uh prior to BBT. Prior
to BBT. Yep. Um, and then some of my
passions, aviation. Uh, I just love the
aviation world and everything about it.
Cycling, snowboarding, and I I enjoy
camping and also hiking as well. All
right, so that's a little bit about me.
Here's my beautiful family on a vacation
we took uh I think last year, the year
before. Um, all right. So, some of the
things we're going to cover today. This
presentation is meant for brand new
traders, right? Uh if you're not brand
new, you're more than welcome to also uh
uh stick around and and hopefully ask
questions or even share share things
that uh you have experience that also
can be helpful for new traders. And
that's the great thing about this
community is all about helping each
other being able to move forward. So
some of the things we're going to be
covering is uh using scanners to find
opportunities. You know, how that's
how's that going to help you staying
informed with the news and and how to do
that and certain things and my routine.
I'll go over what I do every morning. uh
the importance of a trading simulator
which when I started did not do this and
cost me a lot of money um navigating
market atlas uh leveraging a funded
account uh and then we'll talk into when
is it time to move to a professional
platform like dash trader pro like think
or swim you know we all our moderators
here we use dash trader pro doesn't mean
that's the platform you have to use
right uh and we'll talk a bit about that
and the cost involved with that then
towards the end we'll do we'll do a Q&A
name. All right, perfect. All right, so
the gappers list, this is probably one
of my most used scanners and probably
the most important for me personally,
right? Uh I mean, if if you look at the
exchanges, you know, you got 4,000
tickers in in NASDAQ, you got about
2,000 almost in New York Stock Exchange
and you got about 228 in the American
Stock Exchange. Uh I made a mistake
here. Um that's not supposed to be
there. Then NY stock, but the American
Stock Exchange, you know, we rarely
trade it. Um there are some tickers
there like like the spy I believe sits
on the American stock exchange and some
other ones but for the most part you
know with NASDAQ and New York Stock
Exchange is what we're really focused
on. So with almost you know 6,000
tickers which one are you going to
watch? What are you going to look look
at? And part of uh trading is
identifying what's really in play,
right? You need to be able to identify
what's really in play. You can't just
randomly wake up and say, "Oh, I'm going
to trade this and that." Right? You got
to identify what's really moving and
what's going to work well with your
strategy. Uh I think if there's any luck
in trading at all is uh uh what you're
watching. You know, what stocks are you
watching? What are you trading? Is it
something that's going to bomb and not
trade well or is it something that's
going to give you the volatility and
momentum that you need for your
strategy? So, if you're watching the
wrong stocks, you know, it could be very
difficult. It could be a battle uphill
trying to get continuation moves and
things that are going to trade well
within your strategy. So, the biggest
tools that you need to have is a real
good quality scanners, right? And back
in when I started, I used to pay for uh
Trade Ideas and and it's still now
they're an amazing scanning company,
right? That's what they do. They focus
strictly on on scanners, but I remember
when I was paying that membership, it
was like uh I think it was 150 or 100 a
month. I I can't recall, but um it was
expensive. And starting out, you know,
the cost to get started was not cheap
when you start adding all these things
up. your scanners, your simulator was
150 with that, you know, you're I was
putting out almost about 400 a month,
right? Uh and not making any money. So,
that does hurt. Once you start making
money, it's okay. It's it's a cost of
doing business. But at first, that's a
big chunk that comes out of out of your
check. And uh after you look at it for
uh two, three, four months down the
line, you know, it it adds up pretty
quickly, right? So um what we did with
trading terminal is we basically copied
their scanners. We went in there and we
said okay they have all these scanners
let's do the same thing at a much
discounted price. So, our scanners are basically
basically
uh made out of trading trade ideas,
which is again an an amazing company,
not a knock on them, but I found myself
paying for this membership. And if you
look at everything they offered, I used
probably 5% of what they offered, right?
So, I was not getting the full benefit
of uh of that membership because a lot
of stuff on there I was just not using
as a as a momentum uh day trader for the
market open. So, that's some stuff you
have to consider when it comes to that.
Um, but again, you need to really know
what's in play every single morning. So,
every morning you you got to go to your
gappers list. You got to be able to see,
okay, these are stocks that are actually
moving, that are actually doing
something that can really really you can
really benefit from. Okay. So, so
definitely uh you want to have a good
scanners, whether that's trade ideas or
trading terminal, you got to have a
quality scanner. uh and some of my
criterias for my scanners and this works
well with a lot of the the teachings
that we do with Bear Traders and trading
terminal webinars. You know, we don't
trade lowflow stocks, right? You guys
know that we focus on mid to large flow
stocks. They're easier to trade. They're
more forgiving for brand new traders.
So, if you're new, these stocks are not
going to put you in a in a tough
situation where they can drop a dollar
or drop a big percentage. What makes
lowflow very um very attractive to new
traders especially because I I remember
uh this very clearly is that when you're
first starting out if you especially if
you have limited buying power you know
when a stock is trading at $5 that's
moving to 7 $10 you know in a matter of
minutes that's very attractive because
you can buy a whole bunch of shares
right so uh when you have that scenario
it really attracts new traders and I
remember when I first started I was very
attracted to these lowflow tickers that
were at a lower price because I can buy
500 shares very easily, right? Uh and
try to move, you know, uh five, six,
seven, even 10% at a time, right? So
that that was very attractive. But the
problem with those is they don't really
work well with our strategies, right? So
we we try to by most as possible, you
know, avoid these lowflow tickers. Yes,
they look look attractive when you wake
up in the morning and they're up 40%.
But they're really not tradable. Um it's
a great question. What I consider a
lowflow stock is anything under uh 50
million. 50 million shares float.
anything under that, you really got to
be a little bit careful. Um, and I I
tend to avoid these tickers. Matter of
fact, my scanners avoid anything under
under I believe um well, no, I took that
off, but under 50 million, you know,
we'll note it on here. We'll call it a
risky type stock, right? Risky pile. All
right. So, just be careful with the with
those. It's not really much about the
price. It's really much about the float.
So, we've seen stocks that are uh I
don't want to misspe here, but I think
our age was one stock that I remember
clearly was like a $150 stock that was a
low float, you know, and when that when
that thing was in play, it was risky as
heck, right? So, you did not want to
trade something that had a float like
that because what that means is that
anyone like uh somebody like Andrew who
has a big size account could could move
that stock, right? Could could take a
position uh could short it and could
move that stock in any way. So when one
person or a group of people can can take
that stock and do a short squeeze or or
dropped immediately, that's when it
becomes a little bit dangerous. So you
want to avoid that. So it's not much
about the price. It's more about the
flow. Now, I personally don't like
stocks under $20. I think they don't
trade all that well. Um but there's a
few outliers that can do pretty good,
right? They're around 15 bucks, 13
bucks. They have a large float. You
know, they're not going to uh drop on
you uh unexpectedly. So those those are
things to consider. Uh, and what I'm
looking for in this gappers list, right,
when I'm putting my watch list together
is I want to see very significant
pre-market volume and also good opening
volume, right? We sometimes have stocks
in play that are on the list uh that the
market opens and there's no volume,
right? That's not going to help us
because we at the end end of it all, we
are momentum traders. So, we need stuff
to really move and to get things uh
going. Um, uh Oh, yeah. Oh, yes, you
did. I got I got your email. I'll send
it back to you. I think it was from
Friday or something. And we could talk
about it today too uh here in this
presentation when we're done if we have
time we'll talk about the three
differences between uh trading terminal
uh bear boot traders in the boot camp.
Right? So I think that's uh yeah we
could we could talk about that's
important. Um uh in addition to that
real-time scanners also are very useful
right so the real after look at the
gappers. The gappers list is only good
for the morning right after the morning
it it just it expands. It puts a bunch
of stuff on that's getting volume. It's
really not useful. So, at the morning
before the bell rings, you know, you can
use your gappers list. After that, then
we go into a real time scanners, right?
And the idea for this is it's going to
help you identify stuff that might not
be on your list. For example, when the
day starts, the two things I'm looking
at is this turbo break up and turbo
breakdown. Now, here I took the
screenshot a little bit later in the
day, so it's not populated, but these
two scanners are really good. And when I
remember when I had trade ideas, I love
these two scanners, right? And and and
I'm glad that we were able to copy that
over. So basically what this is going to
identify is stocks that are moving with
heavy volume in any direction up or
down, right? Uh and for example, if you
have your PLTR, if you have your Apple,
you have your Tesla and they're not
moving well or choppy, there could be
something in here that gets spotted that
you can take a look at and see if it
meets your criterias, right? Uh and one
of the things is with all these tools,
right? All the tools that you have, the
scanners, Mark Alice, which we'll talk
about a little bit, um you know, they're
just a tool. They're not the be all end
all, right? So, you got to be aware of
that because I remember when I first
started, I would look at the extreme
reversal scanner. This one caught me at
a lot of times. You know, you'll get a
ticker here coming up that, hey, this
has been down five red candles. It might
be time for reversal. And then I will
take a trade. The problem with that is
you're not matching it up to a strategy,
right? So, nothing replaces having a
strategy where you have your entire
breakdown. And we have other videos uh
on that where you have your stock
selection, you have your your how to
identify the strategy, and then how to
execute the strategy. You still need to
have that, right? We're not going to get
into those details, but that's part of
the process comes later down the line.
Once you have the tools, you got to make
sure you have a strategy on what you're
trading, right? The scanner is not going
to be, hey, I'm going to just going to
follow this blindly. It's not going to
work that well, right? is you're going
you're going to end up losing money um
because the scanner is going to have a
lot of noise on here and you got to be
able to filter some of this noise,
right? So, there's a pro and a con to
everything. Um the the pro on the
scanners is identify things that you
might not be watching. Try to find stuff
from the gappers list that is going to
be helpful to you. But at the end of it
all, you got to have that strategy to
match match it up against because the
con of this is there's a lot of noise
here that is not going to trade very
well. And that's just not in trading
terminal. This is trading terminal
scanners here. That's in any scanner.
The one that has Thinker Swim, the one
that's in Dash Trader Pro embedded in
that one, the one from Trade Ideas,
that's across the board. You need to be
able to filter out was trading within
your uh within your strategy, right? So,
it's very, very important. Let me move
this out the way. Um, so, so scanners is
key, right? And, and Trading Terminal
has a great scanner. Uh, that's the one
I use every morning now, and I highly
recommend you you give it a try. Uh,
what is Trading Terminal? Uh, yes. Oh,
it yes, it is in train terminal. This is
in train terminal. So, I'll actually
show you because a lot of the tools
we're going to talk about, again, as I
was putting this presentation together,
a lot of the stuff comes from here,
right, from Trading Terminal. So, we put
all the tools a new trader needs in here
to be able to get started in trading.
So, you click on scanners here, you'll
be able to see the scanners. When you
click on the simulator, you got the
simulator. Um, and you basically got all
the tools you you need on here. And
they're very customizable.
Um, so you could definitely take
advantage on on customizing things the
way you like. That's important too
because I remember at one point I was,
you know, I had limited buying power and
stocks that were, you know, 300, 250
were not ideal for me because I could
take very little shares, right? So even
though I got the move I wanted, I was
not making the amount that was worth it.
Right? So what I did was at that time I
went from a from a a filter that only
included stocks that had a $20 price to
a $80 price. Right? Right? So, I've even
filter out even more noise, right? Kind
of fine-tune it to what works for me and
my buying power at that time and how I
was trading. You could do the same,
right? You can come in here and you can
filter things out to your price range
that you like that you're comfortable
with. Um, I was also not comfortable
trading, you know, $150 stocks that
would move. Even if I was able to take a
good amount of shares, you know, I was
just not comfortable trading at that
price, right? As you get more
experience, that that does not become an
issue. Um, you know, we trade 300 stocks
all the time now, right? Between Tesla
and some other ones. So, that's not an
issue anymore, but at first it can be,
you know, make the tools work for you.
Make these tools work for you. You don't
have to watch everything. All you need
is one or two really good tickers that
are moving. Focus on those. Have your
strategy in place and take advantage of
of the move that they provide if they do
provide it. Right? There's going to be
some days where these tickers are, you
know, they're just not going to give you
the opportunity. Don't feel the pressure
to have to trade something. That's very,
very important. All right. So, again,
everything is in trading terminal.com.
We'll talk about some of these on here.
So, good question, guys. Um, all right.
So, the scanner is the first tool you
need to have. You need to have a good c
good scanner. You know, filter things
out so they can uh make sense for you.
Filter out the lowflow stocks. You don't
need to look at those. They're very
risky, especially if you are a brand new
trader. The next thing you want to have
is tools that are going to provide you
with news. Now, news could be a little
bit tricky because there's so many
different places that you can get news
from. Um, but you need to stay informed
on what's happening with the market and
what sectors are in play and what can
affect you throughout the day. So, my
morning routine is every morning I wake
up uh around 5 5:30 and I put on
Bloomberg, right? I like I like
Bloomberg radio. So, I put on Bloomberg
radio and I listen to what's happening
for the day. What what is the top news
that's affecting uh the market that day?
whether it's tariffs, whether it's any
mergers, where whether is uh um you know
any any Nvidia deals like like we saw
today with Microsoft. So I want to be
aware of what sector is in play. Is
quantum in play and kind of the the the
underlying um uh catalyst that's moving
a ticker. Eventually those end up in the
gappers list if they get enough volume.
But the idea here that's very important
for new traders is as you're looking at
your news, whether you get it from
Bloomberg, listen to Bloomberg, whether
you're getting it from uh uh Ben Singa,
we have a partnership with Ben Singa, by
the way. So, writing trading terminal,
part of your membership is that you got
this Ben Singa news in the back. And if
you guys heard Andrew Trey, he has the
Ben Singa running in the background
because they pro provide live updates of
things that can help um uh active
traders. And what I like about the Ben
singinga news is that they're they're
they filter out a lot of the noise. So
you're going to get stocks that uh are
specifically uh geared towards active
traders like me and you, right? They
they focus on that on that retail
trading, right? Uh and they're very
good. You could have them running in the
background. You can see why something is
moving. They'll call it out. Earnings as
well. They do a good job with that also.
Uh if you do like to trade earnings. So
it's nice to have that feature. But then
here you also have breaking news. you
have all the tickers and any news that
might be major that's coming out. So you
can see okay um for example Amazon has
something happening here. This is all
after hours. So it's not really going to
uh uh give you a lot of trading
opportunities but throughout the day
there's constantly news coming out and
sometimes you will see market news. So
it'll be like the spy right? uh let's
say tariff tariff news or any news that
can affect the market that's not really
a companydriven but overall market news
you'll see like the spy on here because
it can affect the overall market one of
the most important things though when it
comes to this news ticker right you can
get this from trading terminal as well
and and other new again I look at a lot
of news I look at this one I look at
Bloomberg I look at I got a Bloomberg uh
membership which is actually really good
it's $30 and I really love their analyst
and their writing their writing of their
uh of their opinion pieces, right?
They're really nice, very in informative
informative and um I really enjoy the
way they do their writing. So, it's very
nice. So, if you have your budget, which
we'll talk a little bit later about, you
know, your starting budget as a for your
trading business. If you have the
budget, highly recommend you check it
out. Um I think they do a trial for a
month for free and if you like it, you
know, put it on there. Why not? Um
biggest thing with news is, you know,
trade the volatility. This is important.
All right? Because many times when you
first start out, if you don't have a
strong uh strategy, it can be so easy to
just trade the bias of that news. And
what do I mean by that? Something comes
out and they say um uh uh who in fact
the one that dropped 66 66% today. Well,
what ticker was that? It dropped about
66% at the market open. It was negative
news. They failed some kind of uh
pharmaceutical what whatever it was. It
was negative news, right? You would
think, oh, I'm going to short this
stock. Cure. Yeah, Q U R E. Exactly. I'm
going to short this stock. And we saw
one last week, too, where it was it
dropped a bunch. I think it was FI,
right? Dropped almost 40%. That's a big
chunk, right? All negative news. You
would think at the bell when we're
getting ready to trade, this thing is
going to continue to collapse, right?
Because you might have that bias that,
hey, this is has a negative outcome and
you might want to short that ticker. But
both of those tickers, at least for the
beginning part of the day, were long,
you know? So, you don't want to have
this bias. What you want to do is you
want the news to create the volatility
for you, right? That's the whole point
of looking at the news as retail
traders. The actual underlying of the
company's P& and their performance and
the finances, that's more for swing
traders and people that are trading
fundamentals. Keep in mind, we're not
fundamental traders, right? We're we're
day traders. We're trading uh strictly
technical. So, we don't care
specifically about the actual news. We
care what the news is going to bring to
the table as far as movement, right? Our
job as a trader is to uh not not do what
we think uh based on a headline, right?
That's very important. Headlines will
will fake you out every single time. And
it and it happened to me at the start,
right? I'll see a positive headline
like, "Oh, this is great. It's going to
good news." You know, they're up 10%,
the thing is going to go higher and the
thing becomes a short the entire day.
So, don't let that build a bias, right?
News is important. You got to stay
informed. We have plenty of tools for
you to do that throughout the trading
day. Also do your own part of like you
know uh pick your favorite channels or
outlet out there that you like for
market news and stay up to date with
what's happening right that's important
so you can have an idea of what sectors
what market what tickers might be in
play for that day but again don't let
that uh build a bias. Uh what time do
you go through the news before the
trading day or is it in the background
during the day? So I have I have
Bloomberg running in the background
throughout the day so I have that
running in the background. Um, no.
Bloomberg. No, you might be thinking
about the Bloomberg. Um, it's not that
expensive. It's You might be thinking
about the uh the Bloomberg um what's it
call it? Their their their trading. I
forgot I forgot the name of it, but you
you might be talking about their their
Bloomberg platform, which is a whole
different story. Uh that's like 20 grand
a month. [laughter] The Bloomberg
terminal is like 20 grand a month or
something like that. It's a ridiculous
amount, right? That's completely
different, right? So yeah, you you you
have that. It's a whole different
ballgame. So um do you need it? Yeah,
it's like right like 20k a month. Yeah,
it's ridiculous. I'm sure they got uh uh
they get updates on news and all kinds
of stuff you could do with that tool.
You probably could by now have it tra
even trade for you, right? So um is it
2K a month? Okay. Some It's something
ridiculous. I thought it was a lot more.
I thought it was like in the rounds of
like 10 20. So I I'm not sure. But it's
very very expensive. The membership I'm
talking about is just, you know, for
their opinion news, for for the all the
stuff they release out there, and also
access to their their channel as well,
which is really nice because their
channel does give you breaking news.
They'll have it on there and they'll
have a a nice um setup so you could look
at what's what's happening, right? So,
um I enjoy it. It's $30 a month. I
signed up and I found it so far uh very
useful. So, I have it running throughout
the day. even when I'm doing the
pre-market show and even the the live
trading, I'll have it on a different
screen just to see if anything comes up
that is uh that is useful. All right. Um
so yeah, so stay informed. There's many
ways to do this. Again, we you can
search tickers on trading terminal.com.
You can search news almost anywhere. Um
so there's a a feature that we have here
u that's very powerful. But again, this
been single to is very very nice. If you
have not used it yet, definitely check
it out. It's hard for me to do it when
I'm live with you guys. Um to have, you
know, something else also running in the
background because this is all audio. Uh
but it's definitely pretty pretty nice
as well. And this is also power, I
believe this new thing is also powered
by Ben Singer, which they do a great job
as well with their text there. All
right, so now let's get to the fun part,
Trading Simulator. And as a new trader,
I remember I I I went in straight to
live trading, right? Which is a big big
mistake a lot of traders make. um they
lose money, then they realize, okay, I
probably should go learn on how to
trade, right? That's usually the the
course that many traders take. Um you
have to have to have to use a simulator,
right? And my rule is, you know, until
you can make money consistently in a
simulator, you don't move to an uh uh to
your own broker trading your own money,
right? That's a disaster. You're not
going to just magically start making
money in a real live account, right? So,
you never want to do that. You want to
train a simulator. You want to treat the
simulator like it's real money. I know
um people like to come in and they like
to play around and and they'll hold past
their stop and they'll hold they'll hold
something and be down like $1,500
and then it comes back to green and
like, "Oh, they close to green. Oh,
look, I make money today." You're not
going to do that in your real account,
right? That's not something you your
stomach is going to be able to hold on a
real account, especially when you start
trading. So, you know, be reasonable
with the simulator. trade a a decent
amount of shares like you would if
you're trading a live account. This will
give you the best practice as a new
trader to get started in a real account,
right? Very, very important. So, don't
go in here. Um, yes, can you play around
with a little bit to get used to how you
know how to enter trades? Yeah, that's
all fine and dandy, but eventually you
want to get to the point where like,
okay, I'm going to start my my trading
to prepare for a live account that
you're going to be trading with your own
money, right? So, you won't be taking a
thousand shares on Tesla. you won't be
taking uh you won't be taking draw downs
of like $2,000 then eventually comes
back to break even or averaging down.
You're not going to be breaking these
rules on your live account. And if you
do like many people do like I have had
in the past, you are going to pay quite
a bit, right? You're going to pay quite
a bit. So, this is very important that
you are focused uh uh strictly on on
trading like you would a real account.
So, that's the whole purpose of the
simulator is to prepare you to get you
ready uh without risking your own money.
Right? So, we have a great simulator.
Um, and we we'll talk about the funded
account a little bit later as well and
what that does. But even before you even
think about the funded account, you
know, try the simulator. Try the
simulator. Try to trade your strategies.
Try to understand the price action. The
whole point of this is to get screen
time, right? People don't talk a lot
about screen time and time and see. But
as a new trader, this is crucial. You
have to have screen time. Um, and the
more screen time you have, the better
you're gonna understand the price
action. You got to understand which
tickers don't trade well. The market is
is repetitive, right? Price action is
repetitive, right? There's so many
different outcomes. You never know
what's really going to happen. No one
does. Not even the best analysts know
what's going to happen. Um, but the more
screen time you get, the more prepared
you're going to be to react to certain
situations. When you see a certain
pattern, hey, I've seen this before.
When this happens, the likelihood is
that this can happen. That's what we're
doing, right? That's all as traders,
that's all we're doing. We're trying to
identify patterns that hey, when this
takes place, the next likely thing is
going to happen is this. That's benefits
me in getting long, getting short,
trading my strategy. That's all we're
doing, right? It's it's that simple. So,
you you want to practice that in a
simulator. You want to get that screen
time. A lot of people when they when
they first start trading, you know, they
they'll pick their two strategies. As a
new trader, understand that if you once
you start practicing your new
strategies, the first month or two,
you're going to be really bad. Yeah, you
you're just not going to be good. You're
going to be getting in late. You're
going to be overthinking things. Um and
at the end, you might come to three
months and realize, hey, these two
strategies are not really working for
me. Doesn't mean that, you know, there's
not a strategy out there. It just means
you got to change the strategy. And it
also doesn't mean that the time you
spend watching the market is wasted
time. A lot of people think that way and
they instead of change the strategy to
something else, they want to force those
strategies into a live environment and
that's when things go really bad. So,
take your time in the simulator. Um,
don't move to a funded account. Don't
move to a live account until you
actually have a strategy that you can
trade. Um, as humans, we like to, cuz I
did this. Well, some of us, not all of
us. We like to only take things serious
when it's real uh skin in the game,
right? Like, oh, it's a simulator. Who
cares? I have certain certain people
think that's okay. Hey, it's a
simulator. Just play around. But my the
point is to get you ready for that. It's
like taking a a a driving test, right?
And you're just messing around. So,
you're learning how to drive. Are you
going to be doing that when you get get
the exam when you actually are on the
road? No, you're not. So, trade this
like a real account. Get the experience,
get the screen time, and then prepare
yourself to move to a a uh a funded
account and then eventually your own
account, right? That's the purpose of
this um questions here. Let me get to
some how to help distinguish between a
trade bias and a solid trade hypothesis.
is a hypothesis formed from the
combination of the news indicators in
chat. Yes. So you can have um a a
thesis, right? You can have your thesis
where you think okay the likelihood of
this happening is uh this could be a
long opportunity. You can have that and
that's okay and I have that all the
time. I had it today with Amazon, right?
And and unfortunately got got stopped
out twice. Eventually did drop uh the
level I was expecting, right? Just my
timing was off. So you can have that,
but at the end of the day, your trading
execution should be on your strategy,
right? And your strategy should not
really have a bias or or
a news-driven event that's driving that
strategy. That strategy, at least for
technical traders, is based on your
technicals, right? If this pattern shows
up, if the volume is this, if this level
gets broken, if we get a if we get
confirmation here, then we take our
entry, right? That's really what your
your trading should come down to is that
strategy, right? And we can talk about
that. a whole different webinar. We can
get into that at a later time. How do
you how long do you need to make money
in sim before going live? I I want to
say at least two to three months, right?
You don't want to wait too long. You
don't want to wait like seven, eight
months in simulator. You know, uh I only
did seven months because I was stuck at
a job and I was just going to wait till
I was done. Uh I was uh laid off at the
end of the year. But you don't want to
wait that long. You know, you want to
start getting the feel for trading real
money, for having skin in the game. So,
you know, go to a funded account after
two, three months of, you know, actually
trading well, not making rookie
mistakes, right? You are going to make
rookie mistakes. You're going to take
the take a long, you want to take a
short, you know, get that stuff out of
the way, get the the nervous things out
of the way first, become confident in
the platform, understand your tools, uh,
and then that's when you're ready to go
live. But at least two or three months,
you know, trading well, then you can
start thinking about, you know, getting
a funded account, getting a a brokerage
account. All right. Um, if you work
full-time in the office during the
market hours, what's your best advice
for using a simulator? So, that's when
we get into the replay simulator, which
actually I missed a put on here, the
replay simulator. That's when you get
into that. And I think that can be very,
very helpful. So, if you're working
full-time and you're stuck in a 9-5, use
a replay simulator, right? Go back and
don't go back to like today's day. Go
back to like last week, right? Aiman
does a great job of giving you guys the
tickers that were in play that day.
That's also available on our website,
Bear Traders. You can go in there, look
at the stuff that was in play. you can
see what other moderators were watching.
So, if you find yourself trading like
Brian, trading like Thor, trading like
one of the moderators, you know, look at
what stocks they had in play for that
day, put those tickers on your watch
list and then then just play the replay.
Play the replay and act like it's the
market open, you know, and you're going
to get that screen time. You're going to
see the way the price action moves. Be
surprised. I see a lot of people don't
do that. And this is the part where you
got to spend time in the back end. You
don't become a trader just at the market
open when the bell rings, right? There's
a lot of work that's done behind the
scenes outside of the market that can
prepare you, right? The simulator is a
great one, right? The replay simulator.
So, take advantage of that, right? Uh
and then eventually uh when you know
whether your time changes with your job
or you're able to take the mornings off
or you have some availability during
that that market hour, you're prepared,
right? I know a lot of people they say,
"Oh, I'm not going to learn how to trade
yet because I'm I'm stuck at a job and I
don't have any idea when this is going
to change." Start start practicing.
Start practicing because when you are
ready, you're going to hit the ground
running, right? So, if you know this is
something you want to try, spend the
time practicing, you know, one hour a
day at night, you know, and do the
simulator. Uh, and yes, it might feel
like, oh, this is useless, but trust me,
it is extremely helpful. Screen time is
something that we don't give uh a lot of
credit to. Um, and a lot of people don't
talk about it, but screen time is key,
right? When you see Andrew trade
sometime he takes trades that you're
like, okay, I don't I'm not sure what
he's seeing in there. It's just a time
and see. He's been trading for 10 years.
Been looking at charts for 10 years.
You've been looking at uh pricing
patterns for 10 years, right? So, this
is something that's going to stick with
you and it's going to make you a a
better trader. Um, uh, yeah, Jeremy, so
you've been using it. Awesome. Yeah,
they're really really good. They're
really really good. Right. So, don't
feel like you're you're stuck without an
out. There is a way for you to still get
practice uh uh and get going there. Uh
when you started playing with real
money, did you have a daily profit
target percentage on your account? And
if so, what percentage was it? So, I I
went through um I went through some some
tough times when I when I went live. I
started risking 250 uh per trade, which
I found out quickly was way too much,
right? So, my plan was, hey, I'm going
to going to make $500 a day and and and
that that'll be it, right? Not the way
it works out with with live trading.
Didn't work out very well. You I did get
some wins. I remember and I told the
story before. I remember
at one point I had a I had three weeks
where the first week was like a,500 we
made. The second week was like 2,000.
The third week was like almost 3 4,000.
This is a brand new trader. Brand brand
new, right? So, yes, it was great when
things were working out. But the problem
with that is I was risking way too much,
right? Risking way too much. If I can go
back and redo my simulator experience, I
would have done it with less shares.
Risking a little bit less. Like if it
was something realistic, right? Uh and
after I had my my huge loss, I lost
$17,000 with bad habits and all that
stuff. After I had that loss, I reset
it. I'm like, I really got to go back
down to Oh, wow. It's pouring out there.
And I left something out that I got to
All right. Sorry about that. I left my
leaf blower out there. I was blowing
leaves before I started doing the chat
here, so I had to run and get that. [laughter]
[laughter]
No, the bike is inside. Never leave the
bike outside.
All right. So, um, so yeah. So, I I had
a realization. I got to start forgetting
about the money and think about the
process. So, what I did was I literally
went down to $20 risk, right? $20 risk
per trade. And it was a group of us. It
was three of us. We started holding each
other accountable. We were struggling.
We were really struggling. And I was
like, "No, I got to really uh focus on
$20 risk, no more than that, and try to
make 40." And it really helped. And then
slowly every month if we if we did well,
then we pushed pushed it up, right? So,
so that's how we did it.
All right, let's uh continue here. Okay,
Mark Atlas, another tool that it's not
new, right? This thing has been out for
quite some time. And um and if you look
at it, not Atlas itself, but for
example, book bookmap, right? It's been
out for a while. I never really used it.
I heard a lot of people rave about it
like Thor. Thor has been telling us to
use bookmap for a couple of months now.
And you're like, okay, you know what?
this the tools I had was working so I
didn't really bother with it but when it
became part of my membership with with
uh trading terminal like let me take a
look at it is really good it is really
really good so here's another tool
that's part of your trading terminal uh
membership that you don't have to pay
extra for right um when you start
looking at all these tools separately I
think uh bookmap is probably what $34
$40 depending where you get it from I
think they have different uh tiers of
membership but the one I saw was like
$34 you know, it it starts to add up.
So, you get this now you get a Dash
Trader Pro Simulator is 150. You know,
you're looking at almost 400 bucks a
month, right? You got your membership
with BBT because you're part of a
community. Um, adds up. It adds up
pretty pretty fast. So, with Trading
Terminal, we created Market Atlas. And
man, what a great tool it is. It really
helps you identify levels of support and
resistance. Now, I'm pretty new to it,
so I can't talk to all the things you
can do with it. Um, Nathan Thor could do
a way better job at that, but it's
becoming one of the tools that I'm
getting very familiar with. And I'm
really enjoying some of the visuals on
here, right? And the one thing I like
the most, this what you don't get out of
level two, right? In level two, you see
it real time where the where the um
where the demand and the supply is. And
I got a great webinar for you new
traders, right? If you're new, uh I got
a great video on YouTube. I'm put the
link out here. Actually, Dwayne, if you
could get that link, it's the one that
we talk about uh the supply and demand.
and I did like 5 years ago. To this day,
still the it's still the same. That
video still applies. It's still the way
we look at level two. It's the way
Andrew looks at level two. So, when
Andrew did that presentation, he did the
presentation. He asked me to actually
record and put it on YouTube, but it's
his presentation as far as how he looks
at the level two. And to this day,
that's how we do it. What the market
atlas does, it provides a more visual
and better understanding where these
levels are at. And what I love about it
is the history on it, right? So, for
example, you can see the history like
here this price, you know, 200 obviously
is a big level, but you could tell if
buyers are still sitting here or if
they're getting lighter. You can tell
what's happening in real time plus the
history of it for the last couple of
minutes, which can be very important,
right? To see how things are developing.
Are are we losing ground? Are we losing
bids? Is it going lower? You don't have
that with the live level two on Dash
Trader Pro. So, this is extremely
helpful helpful. Um, highly recommend
it. Again, I know there's more to it,
but I'm just starting out with this
tool, but this is something as a new
trader that you can quickly uh put on
here and add to your to your to your
tool belt, right? So, very very nice.
Um, we done a pretty good job with this
one. And again, it's part of your
trading terminal uh membership as well.
Um, no, that's that's not the one. Uh,
Dwayne, let me see if I could find it
here for you guys. I think this is if
you're if you're starting out, level two
can be a little bit tricky at first and
this will break down uh the details that
you can use it. Let me see if I can find
it here.
Okay, Dwayne's giving you the replay.
Awesome. Let me see here. Level two. Uh
just going to get this so I don't forget
how we doing on time. Okay, we still got
Okay, so here it is. Yes, got it. All
right, let me Oh, yeah. Dwayne, that's
it. Yep, that's the one from six years ago.
ago.
Yep, that's it. Yeah, Seth, it is it is
much easier to read. Uh it's a tool that
I did not um start training with when I
did my my simulation or my live trading,
you know, for all these years. But it's
really nice to be able to see. It's very
straightforward. Uh the level two moves
very fast so it's hard for people to see
um you know what's really happening to
keep track of the numbers and everything
else. It could be a little bit
distracting. It could be actually
overwhelming. Right. So the atlas it
gives you a better visual on how things
are placing where the bids and the
buyers are. So this could be extremely
uh extremely helpful.
All right. Let's see here. All right.
Funded account. All right. So now you
have all your tools in place. You have
your scanners. You you practicing the
simulator. Now you are ready to try a
funded account and and the purpose of
the funded account is for you to put
some real skin in the game, right? Some
real skin in the game where now you are
actually paying for this, right? You're
paying I think it's uh 300 bucks or
something to sign up for it. You're
actually putting money on the line now,
right? You can actually make money if
you are able to follow all the rules. If
you're able to, you know, stay
profitable, you can actually make money
out of the account within 90 days,
right? Andrew Andrew will definitely pay
you out. But that's just part of it. You
know, a lot of people are join joining
the funded account and what they're
doing is they're just want to get the
payout. That's the least of of the goal
there. Great. If you can make money and
you get paid out, awesome. But the idea
is that if you can make money here, if
you can become profitable, you know,
with the commissions that we just added,
uh, with the real life market
environment, then you're ready to move
to a real account. Like if I if I if I'm
starting out and I cannot make money in
a in a funded account, then there's no
reason for me to go start risking my own
money now, right? You have to make money
here and not just one or two days
because I think every everyone here can
make money in one or two trades. It's
not it's not rocket science. The the
hardest thing with traders, this
something that um we have talked about
before, we can teach you how to make
money trading. That is I don't think
that's that's a problem within the
trading community, especially retail
traders. The issue is the biggest
problem that new traders have when
they're starting out and even some
experienced traders is keeping the money
that they make. That is by by far one of
the hardest things that we've seen and I
should have had it here. I wish I would
have thought about it but as we're
talking now I cannot explain to you how
many equity curves in the funded account
in the boot camp uh in other in other
mentorship that I've done in the past
where people's equities they're doing
great they do awesome like oh you figure
it out you got this and then all it
takes is boom one or two bad trades and
they give it all back all back you know
and and that's the problem how can we
help these traders just stop. Just stop.
I know part of it is psychology and
everything else. Um but this is a big
big problem in the retail trading
community that these guys know how to
trade. They know how to make money. They
know how to take strategies. They know
how to do um you know what they need to
to actually make money and grow their
account, but it just takes one or two
days to blow it all up, right? And part
of it obviously psychology um but not
having enough practice and going
straight into you know into an
environment where you start risking your
own money could be could add even more
pressure right so this adds pressure but
not to the point where it's so is as
tough as it is when you're trading your
own money your own hardearned money
right here you put in 300 bucks you got
it for 90 days you know do your best to
be profitable to show that okay I can
actually handle this I can actually you
go into a live account where now I'm
risking my own money. So the goal here
is to experience different market
conditions or experience everything
before you open up your own money and
you open up your broker account. That's
the idea, right? So I think everyone
before opening a broker account, do the
funded account challenge. See if you can
make money there. If you could make
money and you could keep it, that's the
thing. You could keep it, then you're
ready for your live account. Other than
that, you should not be trading your own
money just yet because you haven't
proven to yourself that you're ready,
that you actually have the experience to
actually start managing uh an account
that's, you know, $30,000, $25,000 in
the market, you know, where where
there's no there's nobody that's going
to stop you. You're not trading with
with a firm where they have rules and
regulations where they're watching over
your account. It's just you. So if your
psychology takes over, which usually
what happens here, if your psychology
takes a a detour, you know, it's going
to cost you a lot. Not just the 200 for
the funded account, the 300 for the
funded account, it's going to cost you a
lot more, right? So why not invest that
first in a funded account, see that,
okay, I can make money. I can keep the
money within 90 days. You can keep money
within 90 days. You could be profitable
within 90 days. You're ready for a live
account. You're ready for a live
account. There's no need to do the
funded account again. do the live
account, move over and and uh and start
doing the same thing you've been doing
in this situation, right? That that's
ideal. Let me get some questions here. Um
Um
uh let's see here. Uh I'm not sure why
I'm getting these messages, but I see
Dwayne. Oh, Dwayne, you're answering
messages that are private. I don't know
how that works. Okay, cool. Let me see
over here. What do we have? Um Carl, I
found the link here to the on boarding
link. There three weeks three weeks I
tried to get some on boarding class.
We're doing on boarding class right
after this. Right after this, we'll do
on boarding class. So, um yeah, I got
Oh, man. 751. Time is running. Uh do you
still have the same trading station set
up as you did in the video? Um on that
video, no, that I think that's six six
monitors. No, I don't have that anymore.
I only have three monitors now. I do
need to get one more monitor because now
I have when I have market atlas on a
separate monitor, there's a lot of tools
that I want to have now. So, I'm going
to get one more. But starting out as a
new trader, two, three monitors is all
you need. you know, and and a lot of you
guys could start with what you have
right now, maybe two monitors, right?
And if you only have one, you know,
invest in another one. Get a used one
from from Best Buy. Go see what they
have refurbished. Walk through their
little thing there. They have some open
box stuff that's pretty cheap. You can
get a decent monitor for almost u 90
bucks. A good monitor for 90 bucks uh uh
at uh at uh Best Buy, right? So, a pawn
shops or that too. Exactly. Um, how long
will you practice in simulator? Assuming
you are doing well before you uh pay for
the funded account. Two to three months,
no more than that. Two to three months
you're doing well. Move to a funded
account. Start putting some skin in the
game. Um, two three months you're doing
well. I think it's time to to, you know,
to take the next step. Uh, can uh where
can I learn about the scanners, filters,
alerts? you know, we I have a actually
when I was putting this presentation
together, I have a presentation um
showing all the the scanners, every
single scanner that we have on train
terminal. So, maybe I'll do a video that
we put up on YouTube, make it public for
everybody and uh and I'll do some new
slides with the new features that we
have now for the scanner. So, I do have
all of that. Um maybe I'll put a video
together this week for you, Ralph. Uh
can you do TT funded account again if
you are profitable and get payout? I'm
not sure Sean if that's one of the
conditions but again if you are why why
go through it well I can see you know if
you if you if you don't have the PDT
which by the way should be going away
beginning of next year which is going to
be another problem in itself for brand
new traders because now now that a lot
of people can actually open up an
account with I think it's 2500 is what
the PDT is going to move down to you're
gonna have a slew of these brand new
traders right that are not taking the
right steps like you guys are going into
the market to trade because now they can
day trade. Um, and it's good. I'm all
for the move down, but I'm also all for
you need to know what you're doing,
right? I if if money is not the problem
as far as day trading. It's the
education and the training part that's
the issue, right? Um, so you're going to
have all these brand new traders now
putting in their 5K and just making a
mess, right? So hopefully that they find
their way to get some education first
and before they start actually uh
trading their actual money, right?
That's going to be very very important.
Um but I see that happening. I see that
happening where a lot of people are
going to go in there and just start
messing around with their live account,
not go to the simulation, not do the P
the funded account, and they're going to
be in for a shock, right? Because this
is not easy. Um what's a good platform
for Mac Dash pros or parallels? Um
actually, we'll talk about that in a
second here. Uh I have so that's the
funded account. Again it's it's I think
it's a step everybody should take and I
wish when I started we had something
like this. We went from simulation
straight to trading real money, right?
And you don't there's no buffer in
between to help you get ready for that,
right? Uh and yes, you're still going to
be nervous. You're still going to uh uh
you know have those jitters when you go
live on your broker account. That's
going to happen. Especially that first
trade. I remember like it was yesterday.
My first live trade after I went through
my simulation was it was it was it was I
was nervous. I was nervous. My palms
were sweaty. I still remember like it
was yesterday. Um this is a good buffer
because you got skin in the game is
going to help you prepare for that. All right.
right.
Yeah. Uh Ali, so they're work already
the PDT right now is set up to 25,000
right here in the US. Um FINRA already
approved their board already approved
bringing it down to 2500. now is is
waiting on the SE uh SEC and some other
uh uh boards to approve it and then once
that's done then the restriction will
come down to uh to 2500. But the fact
that it went to the first hurdle already
and it got approved most likely it's
going to happen. It's just a matter of
time where a lot of experts are saying
by the beginning of next year it it is
it's going to be a huge game changer if
you can trade with $10,000 right opposed
to having 25K. You know, I know traders
that have the money and they don't want
to put, you know, their 40,000 in the
trading account because first of all,
they either don't trust themselves yet
or they're just not ready to risk that
much on a venture that they don't know
if they're going to be good at. So, to
start with a small account, you know,
makes sense. So, I'm looking forward to
that. And it's going to take some time
for all the brokers to actually
implement that change, which I'm sure
they're going to do very quickly. I'm
sure Interactive Brokers like in a week
is going to have that done. Why? Because
it's more transaction fees for them,
right? It's more accounts being opened
up. That's not going to take long. Uh
we're just waiting for the approvals to
uh to take place here. Um there's not a
PT uh PDT restrictions for options, but
options like Andrew said today, they're
difficult. They're they're difficult and
you got to know what you're doing. And
when you're playing with leverage,
right? One of the biggest problems we
have in the trading in the funded
account is that people take a bunch of
leverage, right? uh they they'll we'll
give you a 12,500 to start with a buying
power of 50,000 and people are using the
50,000 on a trade like that's too much
leverage. Options can be even worse. So
you got to be really careful when it
when it comes to to options. Um I'm
going to move through this very quickly
guys. I just noticed the time we're
running out pretty quick here. Uh moving
to a professional platform. Then once
you're once you pass the funded account
then move to a professional platform
like Dash to the Pro. We kind of spoke
about this a little bit. How to be when
to know when you're ready to move to an
account uh to a pro platform. I think
within two or three months of of good
trading where you're following your
rules, you have a strategy, you have a
trade book, right? Um we we have tons of
videos about how to build your
tradebook. The boot camp is all about
that. How to build your tradebook, how
to set it up. Um that's important,
right? Uh doesn't matter how many tools
you have, right? You could have all the
best professional tools in the world. If
you don't have a tradebook to follow,
you're not going to be successful,
right? That's like opening up a business
without a business plan, you're not
going to succeed, right? It's just the
way it is. Um, and then with everything,
these tools are expensive. So, look at
your trading budget, right? Look at your
trading budget and see, okay, how can I
what tools can I afford uh with my
budget, right? The great thing about
Trading Terminal is $99 a month. Um, and
you get all these tools, right? You get
the simulator, you get the um you don't
get the funded account, but you get the
simulator, you get the scanners, you get
market atlas. I mean, right there you
have three things that you will be
paying for if you were to go separately,
right? So, this is a great deal that
Andrew has put together. I know it's not
going to stay at that price. Um so,
think about it. I always tell people,
try it out. If it's something you like,
definitely stick with it because the
price is going to go up to be able to
help for all the data that he's spending
and the developers. These guys are not
cheap, right? Um, so we got to pay these
guys to to make sure they keep uh this
tool up and running and also ma make it
nicer than what it is right now. So take
advantage of the replay, take advantage
of the simulator this all available to
you. Um, Dash is really good. Going back
to TT is pretty tough honestly. Yes.
Yes. Dash is a professional platform. If
you're able to if you're able to um
afford Dash right out of the gates, do
it. You know, Dash is a pro platform.
This is why um people ask, "Oh, are you
guys going to be able to attach the
trading terminal to a broker account to
trade with?" And Andrew is like, "No,
why would I do that?" Das is the Das
already has it figured out. They got the
best tool when it comes to uh to
trading, right? It is awesome. And I
agree, Mike, I have tried to when I
first started, I tried to, you know, I
was struggling. I was paying 150 for
just the simulator on that. I was not
even trading real money. I was paying
150 a month for the simulator and I'm
like, you let me see if I could use
something else, a TWWS or Think or Swim.
It just doesn't work for my strategy. It
just doesn't work. It was very very
difficult to do that. Hey Dwayne, you
want to open up the class and and I'll
start heading over there in a second
because 8:00, but I want to I want to
make sure I finish up with you guys
here. Um, so it was very difficult
because Daz does a good job. But if
you're brand new, you can still use a
simulator here, get started, save some
money, and then eventually, I agree,
Mike, you got to move to a uh a Dash
Dash platform, a pro platform. Dash is
not the only one, right? We're we're not
uh uh you know, pushing D on people, but
it is the one we use for a reason. There
are other market direct market access
platform out there, but DAS, attached in
the brokers, they do a really, really
amazing job. All right, let me try to
get to some of these questions. I'll
have to stop here. Um, let me see if I
can get to somebody's question. Sorry,
I'm off topic. One personal question I
want. I am beginner and I want to quit
my job. I give uh one year to learn and
enter the real market. Is that a good
time? Well, anyone that asks me should
they leave their job? My answer is no.
Don't quit your job. Fine. You got
understand that trading brings a lot of
pressure to make money. Now, if you have
the funds to survive, you know, uh your
daily expenses for a year and you don't
have to worry about making money from
trading, right? If if you don't have
that pressure, then by all means go for
I know some people that they have a good
amount of money and they, you know, I
can survive for a year, two years and a
half with no worries and they're, you
know, they they left their job or
thinking about leaving their job. Great.
But it adds a a level of pressure,
right? When I got laid off, I got a
boatload of money. And even then, I
still felt the pressure to make money,
right? So, I don't recommend you do
that. I rather recommend you try to find
a different job that can cover the
expenses, even if you have a lot of
money. Cover the expenses if you can,
the daily expenses, and then trading
become less stressful. You know, you
don't want that pressure of, okay, I
have a I have this time frame to try to
make money, so see if I can survive off
of this, right? You don't want that
level of pressure. But now, if you have
enough and you're able to uh to plan
that very well, if your living expenses
can do it, by all means, give it a shot.
That's probably one of the fastest and
best way to do it if you can focus
completely on trading. But to balance
the pressure of having to make money out
of something that's very difficult is
very tough. Is very tough. So, you want
to be very very careful with that. All
right. Um, do you have any advice for
preparing for fees, commissions, and
live trading? Um, that's what the funded
account does, right? The funded account
has commissions on there. So you see
real time where you know especially when
you're trading small you're going to hit
with those commissions and you're going
to see what this would be like in a real
live environment. So um you want to try
that first and you're going to get a
real feel for what it's like when those
commissions come in because they do add
up. I remember having days where I
traded a boatload was negative came back
up to break even made a little bit of
money after trading my butt off. When I
went to my interactive brokers account I
was negative because the commissions
were like 400 bucks right from all the
trading I did right. So it gives you a
real life perspective on on how how that
is, right? It could be exactly it could
be a real awakening, right? So the
funded account is going to help with
that to give you a realistic expectation
of what your your net profit is going to
be at the end of all these trades. Okay.
Uh let's see here. I think I got to
request. So after TT Simulator, we still
better go to DAS, right? Um it depends.
I will suggest funded account first.
That's my suggestion. If you want to go
to that, that's that's more of a a
question that you a decision that you
have to make. I recommend go to the
funded account. I think it's a great
tool to decide whether you're ready or
not opposed to doing it on your actual
account, right? Um what what Mike was
talking about is once you start trading
in DS, then it's difficult to use other
platforms because you get so used to
some of the professional tools that they
have. But if you haven't done that
already, do the funded account, you
know, get that get that uh get that
experience and then move over to a
professional platform. then open up your
own account.
All right. All right, friends. I have to
run to the on boarding class. I I wish
we had more more time. We can always do
this again. I think definitely I want to
do one with the scanners on the
criterias. I think that would be a
really good uh webinar as far as how to
use every scanners, what they're going
to help you identify, what strategies
those scanners can be good for. Uh and
we're talking about these over here,
right? We're talking about the uh all
these scanners here, right? The extreme
reversals. I have a web I have a webinar
where I explain what all of these are
good for and what they can help you
with, what strategy, what you're looking
at uh at them for. So I think that'll be
the next webinar we do. I think it'll be
very useful and we'll do it here. We'll
do an in training terminal webinar as
well free for you guys. So guys, thank
you so much. I appreciate you guys
taking the time to be with with me here
tonight. This is recorded so we'll put
it up on the website. Um, once again, if
you have any questions that we didn't
get to today because we ran out of time,
um, carlosbearers.com,
send me an email there and I will get
back to you as soon as possible. Okay?
Usually within 48 hours, uh, if I'm not
behind on on the madness. But, but yeah,
send me an email there and I would love
to hear from you. And guys, take care.
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