0:01 Okay, welcome to tonight's presentation
0:03 guys. Uh top trading tools that
0:06 beginners must know. So the presentation
0:08 is geared towards beginning traders that
0:10 want to get started and they want to
0:12 understand uh what tools they need to
0:14 have in their tool belt to get going,
0:15 right? To have the best experience
0:18 possible and be ready uh to eventually
0:20 the goal, right? The goal eventually is
0:22 to start your live account, right? Start
0:24 your broker, set up a professional
0:26 platform like Dash Trader Pro and be
0:28 prepared with all the tools you need to
0:30 get going, right? Um, so we'll talk a
0:32 little bit about some of the tools and I
0:33 as I was putting this presentation
0:35 together, you know, and I know I'm
0:37 biased to Train Terminal, of course, I'm
0:38 very biased because it's part of our
0:41 tool. We've done an amazing job because
0:44 I was comparing what when I started
0:47 trading back in 2017 and man, all the
0:49 tools that we have in Trading Terminal
0:50 were all over the place, right? I was
0:52 going to different places to get those
0:54 tools. And I'll have a slide towards the
0:56 end talking about budgets and stuff like
0:58 that. Uh, it added up. It add up pretty
1:00 nice. I was paying for all these
1:02 different platforms and it it got
1:05 expensive very very quickly, right? Uh
1:06 plus you have to go to different places
1:08 to get like the I never used the bookmap
1:10 until now, which again is becoming an
1:13 amazing tool. Um but the to get the
1:15 replay to be able to get um all these
1:17 other tools, it was not uh it was not
1:20 ideal. So um Andrew's done an amazing
1:22 job with this trading terminal. is going
1:24 to continue to do it cuz he he's he's so
1:27 focused in what uh this can be for
1:28 traders, especially new traders starting
1:30 out, right? And that's the point to get
1:32 new traders all the tools up ahead and
1:34 in front and center so they can be able
1:37 to uh get everything coordinated. Um all
1:39 right, so quick disclaimer. I'll leave
1:40 this up on the screen. A lot of you
1:41 guys, if you've seen any presentation
1:43 from us, you're very familiar with this
1:46 disclaimer. And we'll jump right in. For
1:47 those that don't know me, um who is this
1:49 guy? Uh my name is Cos Moretta. I'm one
1:52 of the moderators here at Bearoo Traders
1:54 and uh prior to trading I used to work
1:56 for an operations company. Um and I was
1:58 there for 12 years and the only reason I
2:01 left that company was because they had
2:03 relocated to they were going to relocate
2:05 to Kentucky and you know they were they
2:07 were asking people hey do you want to go
2:10 down and move? We basically bought out
2:12 GE appliances right so GE separated
2:13 their businesses into different
2:16 categories. The profitable business is
2:18 the the aviation stuff. that stuff they
2:20 kept. Uh, but they outsourced a 20-year
2:22 license to Hire America, which is a
2:24 Chinese company. And I was just not
2:25 going to relocate. And this is a job,
2:27 guys. I'm telling you, I love this job.
2:30 Started their entry-level processing
2:32 orders for big companies like Walmart,
2:34 Target, Staples, uh, all the all the
2:36 names you could possibly think of. We
2:38 did business with them and it was a
2:40 great job. Moved all the way to
2:42 operations manager. Um, had a team about
2:44 20 20 people or 22 people under me,
2:46 about three different departments. And
2:48 it was it was a cozy, beautiful job. I
2:51 love what I did. Uh and will have never
2:53 left this job to to try day trading. But
2:54 they gave me a two-year notice that,
2:56 hey, we're going to move shop. Um you're
2:58 welcome to come. They gave me a nice
2:59 stay on bonus. I was there for 12 years.
3:02 I also had vacation time. All kinds of
3:05 uh you know uh um benefits for me to
3:08 stay to the end. And the end was 2017.
3:11 So uh during the summer of 2017,
3:12 basically my job was already transition,
3:13 right? I was just there in case
3:15 something went wrong. They knew, hey,
3:16 call this guy. he'll figure it out. Um,
3:18 that was basically my role. So, a lot of
3:21 that did not happen. Um, my voice is
3:24 breaking. Uh, oh, let me I'll reset the
3:26 mic. Anybody else having the same problem?
3:29 problem?
3:32 Okay. So, in that case, um, just refresh
3:34 uh refresh the browser and you should be
3:37 okay. But my mic does like to the cable
3:39 does like to act up a little bit. So, if
3:41 something happens, let me know. Okay.
3:44 Um, and where I left off. Uh, so yeah.
3:45 So basically I'm like, "Okay, I got to
3:46 do something with my time. I'm coming to
3:49 an office to get paid." And at first
3:51 that was fun, but after uh three months,
3:53 it got really boring. Humans are not
3:55 meant to just do nothing. And I was
3:57 really coming into an office just to
4:00 collect a check. And it it got it got
4:02 pretty crappy pretty soon. So I started
4:03 looking into what I can do with the
4:05 time. I found trading before I found
4:07 Babu Traders or Trade of Vancouver
4:10 Traders at that time. I started to um
4:11 you know, just dabble in with Think or
4:13 Swim and and and man, what a mess. lost
4:15 $700 like my first week and I was like,
4:18 "Okay, I need to slow down and and
4:19 really get some education." That's when
4:22 I ran to Andrew's book and uh did
4:24 simulation based on what Andrew was
4:26 teaching at that time uh for about 7
4:29 months starting 2017, right? Um started
4:32 with uh uh live trading on 2018. Uh so I
4:34 went live January 2018, my job finished
4:37 in 2017, so it was a clean cut off and
4:39 became a moderator of the community 2019
4:41 just helping out, answering questions.
4:42 Andrew said, "Hey, you want to come on
4:44 board?" I'm like, "Yeah, sure." Right
4:46 now, um, and from there, the rest is
4:48 history. Uh, my two strategies, if
4:50 you've seen any of my live trading with,
4:53 uh, in on YouTube, is the fiveminute RB
4:56 um, breakout and also the VWAP breakout.
4:58 These are my two favorite strategies,
5:00 right? Uh, have you left your job after
5:03 joining? Uh, I left. No, it was my my
5:06 job again. They they uh they laid me off
5:10 2017, so I left uh prior to BBT. Prior
5:13 to BBT. Yep. Um, and then some of my
5:15 passions, aviation. Uh, I just love the
5:17 aviation world and everything about it.
5:19 Cycling, snowboarding, and I I enjoy
5:21 camping and also hiking as well. All
5:22 right, so that's a little bit about me.
5:24 Here's my beautiful family on a vacation
5:26 we took uh I think last year, the year
5:28 before. Um, all right. So, some of the
5:29 things we're going to cover today. This
5:31 presentation is meant for brand new
5:33 traders, right? Uh if you're not brand
5:35 new, you're more than welcome to also uh
5:37 uh stick around and and hopefully ask
5:39 questions or even share share things
5:41 that uh you have experience that also
5:42 can be helpful for new traders. And
5:43 that's the great thing about this
5:44 community is all about helping each
5:47 other being able to move forward. So
5:48 some of the things we're going to be
5:50 covering is uh using scanners to find
5:51 opportunities. You know, how that's
5:53 how's that going to help you staying
5:56 informed with the news and and how to do
5:57 that and certain things and my routine.
6:00 I'll go over what I do every morning. uh
6:02 the importance of a trading simulator
6:04 which when I started did not do this and
6:07 cost me a lot of money um navigating
6:10 market atlas uh leveraging a funded
6:12 account uh and then we'll talk into when
6:15 is it time to move to a professional
6:17 platform like dash trader pro like think
6:19 or swim you know we all our moderators
6:21 here we use dash trader pro doesn't mean
6:23 that's the platform you have to use
6:25 right uh and we'll talk a bit about that
6:27 and the cost involved with that then
6:29 towards the end we'll do we'll do a Q&A
6:32 name. All right, perfect. All right, so
6:34 the gappers list, this is probably one
6:37 of my most used scanners and probably
6:38 the most important for me personally,
6:41 right? Uh I mean, if if you look at the
6:42 exchanges, you know, you got 4,000
6:45 tickers in in NASDAQ, you got about
6:47 2,000 almost in New York Stock Exchange
6:49 and you got about 228 in the American
6:51 Stock Exchange. Uh I made a mistake
6:52 here. Um that's not supposed to be
6:54 there. Then NY stock, but the American
6:57 Stock Exchange, you know, we rarely
6:58 trade it. Um there are some tickers
7:00 there like like the spy I believe sits
7:02 on the American stock exchange and some
7:04 other ones but for the most part you
7:06 know with NASDAQ and New York Stock
7:07 Exchange is what we're really focused
7:10 on. So with almost you know 6,000
7:12 tickers which one are you going to
7:13 watch? What are you going to look look
7:16 at? And part of uh trading is
7:19 identifying what's really in play,
7:20 right? You need to be able to identify
7:21 what's really in play. You can't just
7:24 randomly wake up and say, "Oh, I'm going
7:25 to trade this and that." Right? You got
7:27 to identify what's really moving and
7:28 what's going to work well with your
7:31 strategy. Uh I think if there's any luck
7:34 in trading at all is uh uh what you're
7:36 watching. You know, what stocks are you
7:37 watching? What are you trading? Is it
7:38 something that's going to bomb and not
7:40 trade well or is it something that's
7:42 going to give you the volatility and
7:43 momentum that you need for your
7:44 strategy? So, if you're watching the
7:46 wrong stocks, you know, it could be very
7:48 difficult. It could be a battle uphill
7:51 trying to get continuation moves and
7:52 things that are going to trade well
7:54 within your strategy. So, the biggest
7:56 tools that you need to have is a real
7:59 good quality scanners, right? And back
8:02 in when I started, I used to pay for uh
8:04 Trade Ideas and and it's still now
8:06 they're an amazing scanning company,
8:07 right? That's what they do. They focus
8:10 strictly on on scanners, but I remember
8:11 when I was paying that membership, it
8:14 was like uh I think it was 150 or 100 a
8:16 month. I I can't recall, but um it was
8:17 expensive. And starting out, you know,
8:20 the cost to get started was not cheap
8:21 when you start adding all these things
8:23 up. your scanners, your simulator was
8:25 150 with that, you know, you're I was
8:29 putting out almost about 400 a month,
8:32 right? Uh and not making any money. So,
8:34 that does hurt. Once you start making
8:35 money, it's okay. It's it's a cost of
8:37 doing business. But at first, that's a
8:39 big chunk that comes out of out of your
8:41 check. And uh after you look at it for
8:43 uh two, three, four months down the
8:45 line, you know, it it adds up pretty
8:48 quickly, right? So um what we did with
8:50 trading terminal is we basically copied
8:52 their scanners. We went in there and we
8:54 said okay they have all these scanners
8:56 let's do the same thing at a much
8:58 discounted price. So, our scanners are basically
8:59 basically
9:02 uh made out of trading trade ideas,
9:03 which is again an an amazing company,
9:06 not a knock on them, but I found myself
9:07 paying for this membership. And if you
9:10 look at everything they offered, I used
9:13 probably 5% of what they offered, right?
9:15 So, I was not getting the full benefit
9:17 of uh of that membership because a lot
9:19 of stuff on there I was just not using
9:22 as a as a momentum uh day trader for the
9:24 market open. So, that's some stuff you
9:26 have to consider when it comes to that.
9:27 Um, but again, you need to really know
9:29 what's in play every single morning. So,
9:31 every morning you you got to go to your
9:33 gappers list. You got to be able to see,
9:34 okay, these are stocks that are actually
9:36 moving, that are actually doing
9:39 something that can really really you can
9:42 really benefit from. Okay. So, so
9:43 definitely uh you want to have a good
9:46 scanners, whether that's trade ideas or
9:47 trading terminal, you got to have a
9:49 quality scanner. uh and some of my
9:51 criterias for my scanners and this works
9:53 well with a lot of the the teachings
9:54 that we do with Bear Traders and trading
9:56 terminal webinars. You know, we don't
9:58 trade lowflow stocks, right? You guys
10:00 know that we focus on mid to large flow
10:02 stocks. They're easier to trade. They're
10:04 more forgiving for brand new traders.
10:06 So, if you're new, these stocks are not
10:08 going to put you in a in a tough
10:10 situation where they can drop a dollar
10:12 or drop a big percentage. What makes
10:15 lowflow very um very attractive to new
10:18 traders especially because I I remember
10:20 uh this very clearly is that when you're
10:21 first starting out if you especially if
10:23 you have limited buying power you know
10:24 when a stock is trading at $5 that's
10:27 moving to 7 $10 you know in a matter of
10:29 minutes that's very attractive because
10:31 you can buy a whole bunch of shares
10:34 right so uh when you have that scenario
10:35 it really attracts new traders and I
10:37 remember when I first started I was very
10:39 attracted to these lowflow tickers that
10:40 were at a lower price because I can buy
10:43 500 shares very easily, right? Uh and
10:45 try to move, you know, uh five, six,
10:47 seven, even 10% at a time, right? So
10:48 that that was very attractive. But the
10:50 problem with those is they don't really
10:52 work well with our strategies, right? So
10:55 we we try to by most as possible, you
10:57 know, avoid these lowflow tickers. Yes,
10:58 they look look attractive when you wake
11:00 up in the morning and they're up 40%.
11:03 But they're really not tradable. Um it's
11:04 a great question. What I consider a
11:07 lowflow stock is anything under uh 50
11:10 million. 50 million shares float.
11:11 anything under that, you really got to
11:13 be a little bit careful. Um, and I I
11:15 tend to avoid these tickers. Matter of
11:18 fact, my scanners avoid anything under
11:21 under I believe um well, no, I took that
11:23 off, but under 50 million, you know,
11:24 we'll note it on here. We'll call it a
11:26 risky type stock, right? Risky pile. All
11:28 right. So, just be careful with the with
11:30 those. It's not really much about the
11:32 price. It's really much about the float.
11:36 So, we've seen stocks that are uh I
11:37 don't want to misspe here, but I think
11:39 our age was one stock that I remember
11:41 clearly was like a $150 stock that was a
11:43 low float, you know, and when that when
11:46 that thing was in play, it was risky as
11:47 heck, right? So, you did not want to
11:49 trade something that had a float like
11:51 that because what that means is that
11:53 anyone like uh somebody like Andrew who
11:55 has a big size account could could move
11:56 that stock, right? Could could take a
11:58 position uh could short it and could
12:00 move that stock in any way. So when one
12:02 person or a group of people can can take
12:04 that stock and do a short squeeze or or
12:06 dropped immediately, that's when it
12:07 becomes a little bit dangerous. So you
12:08 want to avoid that. So it's not much
12:10 about the price. It's more about the
12:12 flow. Now, I personally don't like
12:14 stocks under $20. I think they don't
12:16 trade all that well. Um but there's a
12:18 few outliers that can do pretty good,
12:20 right? They're around 15 bucks, 13
12:22 bucks. They have a large float. You
12:23 know, they're not going to uh drop on
12:26 you uh unexpectedly. So those those are
12:28 things to consider. Uh, and what I'm
12:30 looking for in this gappers list, right,
12:31 when I'm putting my watch list together
12:33 is I want to see very significant
12:36 pre-market volume and also good opening
12:38 volume, right? We sometimes have stocks
12:41 in play that are on the list uh that the
12:42 market opens and there's no volume,
12:43 right? That's not going to help us
12:45 because we at the end end of it all, we
12:47 are momentum traders. So, we need stuff
12:49 to really move and to get things uh
12:53 going. Um, uh Oh, yeah. Oh, yes, you
12:54 did. I got I got your email. I'll send
12:55 it back to you. I think it was from
12:57 Friday or something. And we could talk
12:58 about it today too uh here in this
13:00 presentation when we're done if we have
13:01 time we'll talk about the three
13:04 differences between uh trading terminal
13:06 uh bear boot traders in the boot camp.
13:08 Right? So I think that's uh yeah we
13:09 could we could talk about that's
13:12 important. Um uh in addition to that
13:14 real-time scanners also are very useful
13:16 right so the real after look at the
13:18 gappers. The gappers list is only good
13:20 for the morning right after the morning
13:22 it it just it expands. It puts a bunch
13:24 of stuff on that's getting volume. It's
13:26 really not useful. So, at the morning
13:28 before the bell rings, you know, you can
13:30 use your gappers list. After that, then
13:33 we go into a real time scanners, right?
13:35 And the idea for this is it's going to
13:37 help you identify stuff that might not
13:38 be on your list. For example, when the
13:40 day starts, the two things I'm looking
13:42 at is this turbo break up and turbo
13:43 breakdown. Now, here I took the
13:45 screenshot a little bit later in the
13:47 day, so it's not populated, but these
13:49 two scanners are really good. And when I
13:50 remember when I had trade ideas, I love
13:52 these two scanners, right? And and and
13:53 I'm glad that we were able to copy that
13:55 over. So basically what this is going to
13:58 identify is stocks that are moving with
14:00 heavy volume in any direction up or
14:02 down, right? Uh and for example, if you
14:04 have your PLTR, if you have your Apple,
14:06 you have your Tesla and they're not
14:08 moving well or choppy, there could be
14:10 something in here that gets spotted that
14:11 you can take a look at and see if it
14:13 meets your criterias, right? Uh and one
14:15 of the things is with all these tools,
14:16 right? All the tools that you have, the
14:18 scanners, Mark Alice, which we'll talk
14:21 about a little bit, um you know, they're
14:23 just a tool. They're not the be all end
14:25 all, right? So, you got to be aware of
14:26 that because I remember when I first
14:28 started, I would look at the extreme
14:29 reversal scanner. This one caught me at
14:31 a lot of times. You know, you'll get a
14:33 ticker here coming up that, hey, this
14:35 has been down five red candles. It might
14:37 be time for reversal. And then I will
14:39 take a trade. The problem with that is
14:42 you're not matching it up to a strategy,
14:44 right? So, nothing replaces having a
14:45 strategy where you have your entire
14:48 breakdown. And we have other videos uh
14:49 on that where you have your stock
14:51 selection, you have your your how to
14:53 identify the strategy, and then how to
14:55 execute the strategy. You still need to
14:56 have that, right? We're not going to get
14:58 into those details, but that's part of
15:00 the process comes later down the line.
15:02 Once you have the tools, you got to make
15:03 sure you have a strategy on what you're
15:05 trading, right? The scanner is not going
15:07 to be, hey, I'm going to just going to
15:09 follow this blindly. It's not going to
15:11 work that well, right? is you're going
15:12 you're going to end up losing money um
15:14 because the scanner is going to have a
15:15 lot of noise on here and you got to be
15:17 able to filter some of this noise,
15:19 right? So, there's a pro and a con to
15:22 everything. Um the the pro on the
15:23 scanners is identify things that you
15:26 might not be watching. Try to find stuff
15:27 from the gappers list that is going to
15:29 be helpful to you. But at the end of it
15:31 all, you got to have that strategy to
15:33 match match it up against because the
15:34 con of this is there's a lot of noise
15:37 here that is not going to trade very
15:38 well. And that's just not in trading
15:39 terminal. This is trading terminal
15:41 scanners here. That's in any scanner.
15:43 The one that has Thinker Swim, the one
15:44 that's in Dash Trader Pro embedded in
15:46 that one, the one from Trade Ideas,
15:48 that's across the board. You need to be
15:51 able to filter out was trading within
15:52 your uh within your strategy, right? So,
15:54 it's very, very important. Let me move
15:57 this out the way. Um, so, so scanners is
15:59 key, right? And, and Trading Terminal
16:00 has a great scanner. Uh, that's the one
16:03 I use every morning now, and I highly
16:05 recommend you you give it a try. Uh,
16:07 what is Trading Terminal? Uh, yes. Oh,
16:09 it yes, it is in train terminal. This is
16:10 in train terminal. So, I'll actually
16:12 show you because a lot of the tools
16:13 we're going to talk about, again, as I
16:15 was putting this presentation together,
16:17 a lot of the stuff comes from here,
16:19 right, from Trading Terminal. So, we put
16:22 all the tools a new trader needs in here
16:24 to be able to get started in trading.
16:25 So, you click on scanners here, you'll
16:27 be able to see the scanners. When you
16:28 click on the simulator, you got the
16:31 simulator. Um, and you basically got all
16:33 the tools you you need on here. And
16:35 they're very customizable.
16:36 Um, so you could definitely take
16:38 advantage on on customizing things the
16:39 way you like. That's important too
16:42 because I remember at one point I was,
16:44 you know, I had limited buying power and
16:47 stocks that were, you know, 300, 250
16:49 were not ideal for me because I could
16:51 take very little shares, right? So even
16:53 though I got the move I wanted, I was
16:55 not making the amount that was worth it.
16:57 Right? So what I did was at that time I
17:00 went from a from a a filter that only
17:02 included stocks that had a $20 price to
17:05 a $80 price. Right? Right? So, I've even
17:06 filter out even more noise, right? Kind
17:09 of fine-tune it to what works for me and
17:10 my buying power at that time and how I
17:12 was trading. You could do the same,
17:14 right? You can come in here and you can
17:17 filter things out to your price range
17:18 that you like that you're comfortable
17:20 with. Um, I was also not comfortable
17:23 trading, you know, $150 stocks that
17:25 would move. Even if I was able to take a
17:27 good amount of shares, you know, I was
17:28 just not comfortable trading at that
17:29 price, right? As you get more
17:31 experience, that that does not become an
17:33 issue. Um, you know, we trade 300 stocks
17:35 all the time now, right? Between Tesla
17:37 and some other ones. So, that's not an
17:39 issue anymore, but at first it can be,
17:41 you know, make the tools work for you.
17:43 Make these tools work for you. You don't
17:44 have to watch everything. All you need
17:47 is one or two really good tickers that
17:49 are moving. Focus on those. Have your
17:51 strategy in place and take advantage of
17:53 of the move that they provide if they do
17:54 provide it. Right? There's going to be
17:56 some days where these tickers are, you
17:58 know, they're just not going to give you
18:00 the opportunity. Don't feel the pressure
18:02 to have to trade something. That's very,
18:04 very important. All right. So, again,
18:05 everything is in trading terminal.com.
18:07 We'll talk about some of these on here.
18:10 So, good question, guys. Um, all right.
18:11 So, the scanner is the first tool you
18:12 need to have. You need to have a good c
18:14 good scanner. You know, filter things
18:17 out so they can uh make sense for you.
18:18 Filter out the lowflow stocks. You don't
18:20 need to look at those. They're very
18:23 risky, especially if you are a brand new
18:25 trader. The next thing you want to have
18:26 is tools that are going to provide you
18:28 with news. Now, news could be a little
18:30 bit tricky because there's so many
18:31 different places that you can get news
18:34 from. Um, but you need to stay informed
18:35 on what's happening with the market and
18:37 what sectors are in play and what can
18:39 affect you throughout the day. So, my
18:41 morning routine is every morning I wake
18:44 up uh around 5 5:30 and I put on
18:45 Bloomberg, right? I like I like
18:46 Bloomberg radio. So, I put on Bloomberg
18:48 radio and I listen to what's happening
18:50 for the day. What what is the top news
18:52 that's affecting uh the market that day?
18:54 whether it's tariffs, whether it's any
18:57 mergers, where whether is uh um you know
19:00 any any Nvidia deals like like we saw
19:02 today with Microsoft. So I want to be
19:04 aware of what sector is in play. Is
19:07 quantum in play and kind of the the the
19:11 underlying um uh catalyst that's moving
19:13 a ticker. Eventually those end up in the
19:15 gappers list if they get enough volume.
19:17 But the idea here that's very important
19:19 for new traders is as you're looking at
19:20 your news, whether you get it from
19:22 Bloomberg, listen to Bloomberg, whether
19:24 you're getting it from uh uh Ben Singa,
19:26 we have a partnership with Ben Singa, by
19:27 the way. So, writing trading terminal,
19:29 part of your membership is that you got
19:31 this Ben Singa news in the back. And if
19:33 you guys heard Andrew Trey, he has the
19:34 Ben Singa running in the background
19:37 because they pro provide live updates of
19:40 things that can help um uh active
19:43 traders. And what I like about the Ben
19:44 singinga news is that they're they're
19:46 they filter out a lot of the noise. So
19:49 you're going to get stocks that uh are
19:52 specifically uh geared towards active
19:53 traders like me and you, right? They
19:55 they focus on that on that retail
19:57 trading, right? Uh and they're very
19:58 good. You could have them running in the
20:00 background. You can see why something is
20:01 moving. They'll call it out. Earnings as
20:03 well. They do a good job with that also.
20:05 Uh if you do like to trade earnings. So
20:07 it's nice to have that feature. But then
20:08 here you also have breaking news. you
20:10 have all the tickers and any news that
20:12 might be major that's coming out. So you
20:15 can see okay um for example Amazon has
20:17 something happening here. This is all
20:19 after hours. So it's not really going to
20:20 uh uh give you a lot of trading
20:21 opportunities but throughout the day
20:23 there's constantly news coming out and
20:25 sometimes you will see market news. So
20:27 it'll be like the spy right? uh let's
20:30 say tariff tariff news or any news that
20:32 can affect the market that's not really
20:34 a companydriven but overall market news
20:36 you'll see like the spy on here because
20:39 it can affect the overall market one of
20:41 the most important things though when it
20:42 comes to this news ticker right you can
20:44 get this from trading terminal as well
20:46 and and other new again I look at a lot
20:48 of news I look at this one I look at
20:51 Bloomberg I look at I got a Bloomberg uh
20:53 membership which is actually really good
20:56 it's $30 and I really love their analyst
20:58 and their writing their writing of their
21:00 uh of their opinion pieces, right?
21:02 They're really nice, very in informative
21:05 informative and um I really enjoy the
21:06 way they do their writing. So, it's very
21:07 nice. So, if you have your budget, which
21:09 we'll talk a little bit later about, you
21:11 know, your starting budget as a for your
21:13 trading business. If you have the
21:14 budget, highly recommend you check it
21:16 out. Um I think they do a trial for a
21:18 month for free and if you like it, you
21:21 know, put it on there. Why not? Um
21:24 biggest thing with news is, you know,
21:26 trade the volatility. This is important.
21:28 All right? Because many times when you
21:29 first start out, if you don't have a
21:34 strong uh strategy, it can be so easy to
21:36 just trade the bias of that news. And
21:37 what do I mean by that? Something comes
21:41 out and they say um uh uh who in fact
21:44 the one that dropped 66 66% today. Well,
21:45 what ticker was that? It dropped about
21:47 66% at the market open. It was negative
21:49 news. They failed some kind of uh
21:51 pharmaceutical what whatever it was. It
21:53 was negative news, right? You would
21:54 think, oh, I'm going to short this
21:56 stock. Cure. Yeah, Q U R E. Exactly. I'm
21:58 going to short this stock. And we saw
21:59 one last week, too, where it was it
22:00 dropped a bunch. I think it was FI,
22:04 right? Dropped almost 40%. That's a big
22:06 chunk, right? All negative news. You
22:07 would think at the bell when we're
22:09 getting ready to trade, this thing is
22:10 going to continue to collapse, right?
22:12 Because you might have that bias that,
22:14 hey, this is has a negative outcome and
22:16 you might want to short that ticker. But
22:17 both of those tickers, at least for the
22:19 beginning part of the day, were long,
22:21 you know? So, you don't want to have
22:22 this bias. What you want to do is you
22:24 want the news to create the volatility
22:26 for you, right? That's the whole point
22:28 of looking at the news as retail
22:30 traders. The actual underlying of the
22:32 company's P& and their performance and
22:34 the finances, that's more for swing
22:35 traders and people that are trading
22:37 fundamentals. Keep in mind, we're not
22:39 fundamental traders, right? We're we're
22:42 day traders. We're trading uh strictly
22:44 technical. So, we don't care
22:46 specifically about the actual news. We
22:49 care what the news is going to bring to
22:50 the table as far as movement, right? Our
22:53 job as a trader is to uh not not do what
22:56 we think uh based on a headline, right?
22:58 That's very important. Headlines will
23:01 will fake you out every single time. And
23:03 it and it happened to me at the start,
23:04 right? I'll see a positive headline
23:05 like, "Oh, this is great. It's going to
23:07 good news." You know, they're up 10%,
23:09 the thing is going to go higher and the
23:11 thing becomes a short the entire day.
23:13 So, don't let that build a bias, right?
23:15 News is important. You got to stay
23:17 informed. We have plenty of tools for
23:18 you to do that throughout the trading
23:20 day. Also do your own part of like you
23:23 know uh pick your favorite channels or
23:24 outlet out there that you like for
23:26 market news and stay up to date with
23:27 what's happening right that's important
23:30 so you can have an idea of what sectors
23:32 what market what tickers might be in
23:34 play for that day but again don't let
23:37 that uh build a bias. Uh what time do
23:38 you go through the news before the
23:40 trading day or is it in the background
23:42 during the day? So I have I have
23:44 Bloomberg running in the background
23:45 throughout the day so I have that
23:47 running in the background. Um, no.
23:49 Bloomberg. No, you might be thinking
23:51 about the Bloomberg. Um, it's not that
23:53 expensive. It's You might be thinking
23:57 about the uh the Bloomberg um what's it
24:00 call it? Their their their trading. I
24:01 forgot I forgot the name of it, but you
24:03 you might be talking about their their
24:05 Bloomberg platform, which is a whole
24:07 different story. Uh that's like 20 grand
24:09 a month. [laughter] The Bloomberg
24:10 terminal is like 20 grand a month or
24:12 something like that. It's a ridiculous
24:14 amount, right? That's completely
24:16 different, right? So yeah, you you you
24:18 have that. It's a whole different
24:20 ballgame. So um do you need it? Yeah,
24:22 it's like right like 20k a month. Yeah,
24:24 it's ridiculous. I'm sure they got uh uh
24:26 they get updates on news and all kinds
24:27 of stuff you could do with that tool.
24:30 You probably could by now have it tra
24:32 even trade for you, right? So um is it
24:34 2K a month? Okay. Some It's something
24:36 ridiculous. I thought it was a lot more.
24:38 I thought it was like in the rounds of
24:42 like 10 20. So I I'm not sure. But it's
24:44 very very expensive. The membership I'm
24:45 talking about is just, you know, for
24:47 their opinion news, for for the all the
24:50 stuff they release out there, and also
24:52 access to their their channel as well,
24:53 which is really nice because their
24:55 channel does give you breaking news.
24:56 They'll have it on there and they'll
24:58 have a a nice um setup so you could look
25:00 at what's what's happening, right? So,
25:02 um I enjoy it. It's $30 a month. I
25:05 signed up and I found it so far uh very
25:07 useful. So, I have it running throughout
25:08 the day. even when I'm doing the
25:10 pre-market show and even the the live
25:11 trading, I'll have it on a different
25:13 screen just to see if anything comes up
25:15 that is uh that is useful. All right. Um
25:17 so yeah, so stay informed. There's many
25:19 ways to do this. Again, we you can
25:21 search tickers on trading terminal.com.
25:23 You can search news almost anywhere. Um
25:25 so there's a a feature that we have here
25:26 u that's very powerful. But again, this
25:28 been single to is very very nice. If you
25:30 have not used it yet, definitely check
25:32 it out. It's hard for me to do it when
25:34 I'm live with you guys. Um to have, you
25:35 know, something else also running in the
25:38 background because this is all audio. Uh
25:39 but it's definitely pretty pretty nice
25:41 as well. And this is also power, I
25:43 believe this new thing is also powered
25:44 by Ben Singer, which they do a great job
25:47 as well with their text there. All
25:49 right, so now let's get to the fun part,
25:52 Trading Simulator. And as a new trader,
25:55 I remember I I I went in straight to
25:57 live trading, right? Which is a big big
25:59 mistake a lot of traders make. um they
26:01 lose money, then they realize, okay, I
26:03 probably should go learn on how to
26:04 trade, right? That's usually the the
26:07 course that many traders take. Um you
26:09 have to have to have to use a simulator,
26:12 right? And my rule is, you know, until
26:14 you can make money consistently in a
26:17 simulator, you don't move to an uh uh to
26:20 your own broker trading your own money,
26:21 right? That's a disaster. You're not
26:23 going to just magically start making
26:26 money in a real live account, right? So,
26:28 you never want to do that. You want to
26:30 train a simulator. You want to treat the
26:32 simulator like it's real money. I know
26:33 um people like to come in and they like
26:35 to play around and and they'll hold past
26:37 their stop and they'll hold they'll hold
26:40 something and be down like $1,500
26:41 and then it comes back to green and
26:43 like, "Oh, they close to green. Oh,
26:45 look, I make money today." You're not
26:46 going to do that in your real account,
26:48 right? That's not something you your
26:50 stomach is going to be able to hold on a
26:51 real account, especially when you start
26:53 trading. So, you know, be reasonable
26:56 with the simulator. trade a a decent
26:58 amount of shares like you would if
26:59 you're trading a live account. This will
27:02 give you the best practice as a new
27:04 trader to get started in a real account,
27:06 right? Very, very important. So, don't
27:08 go in here. Um, yes, can you play around
27:09 with a little bit to get used to how you
27:11 know how to enter trades? Yeah, that's
27:13 all fine and dandy, but eventually you
27:14 want to get to the point where like,
27:17 okay, I'm going to start my my trading
27:19 to prepare for a live account that
27:20 you're going to be trading with your own
27:22 money, right? So, you won't be taking a
27:23 thousand shares on Tesla. you won't be
27:26 taking uh you won't be taking draw downs
27:28 of like $2,000 then eventually comes
27:30 back to break even or averaging down.
27:31 You're not going to be breaking these
27:33 rules on your live account. And if you
27:36 do like many people do like I have had
27:39 in the past, you are going to pay quite
27:40 a bit, right? You're going to pay quite
27:41 a bit. So, this is very important that
27:44 you are focused uh uh strictly on on
27:46 trading like you would a real account.
27:48 So, that's the whole purpose of the
27:49 simulator is to prepare you to get you
27:52 ready uh without risking your own money.
27:54 Right? So, we have a great simulator.
27:55 Um, and we we'll talk about the funded
27:57 account a little bit later as well and
27:59 what that does. But even before you even
28:00 think about the funded account, you
28:02 know, try the simulator. Try the
28:04 simulator. Try to trade your strategies.
28:06 Try to understand the price action. The
28:08 whole point of this is to get screen
28:09 time, right? People don't talk a lot
28:12 about screen time and time and see. But
28:14 as a new trader, this is crucial. You
28:17 have to have screen time. Um, and the
28:18 more screen time you have, the better
28:20 you're gonna understand the price
28:21 action. You got to understand which
28:23 tickers don't trade well. The market is
28:26 is repetitive, right? Price action is
28:27 repetitive, right? There's so many
28:29 different outcomes. You never know
28:31 what's really going to happen. No one
28:33 does. Not even the best analysts know
28:35 what's going to happen. Um, but the more
28:36 screen time you get, the more prepared
28:38 you're going to be to react to certain
28:39 situations. When you see a certain
28:40 pattern, hey, I've seen this before.
28:42 When this happens, the likelihood is
28:44 that this can happen. That's what we're
28:46 doing, right? That's all as traders,
28:47 that's all we're doing. We're trying to
28:48 identify patterns that hey, when this
28:51 takes place, the next likely thing is
28:53 going to happen is this. That's benefits
28:55 me in getting long, getting short,
28:57 trading my strategy. That's all we're
28:59 doing, right? It's it's that simple. So,
29:01 you you want to practice that in a
29:02 simulator. You want to get that screen
29:04 time. A lot of people when they when
29:06 they first start trading, you know, they
29:09 they'll pick their two strategies. As a
29:11 new trader, understand that if you once
29:12 you start practicing your new
29:14 strategies, the first month or two,
29:16 you're going to be really bad. Yeah, you
29:18 you're just not going to be good. You're
29:19 going to be getting in late. You're
29:21 going to be overthinking things. Um and
29:23 at the end, you might come to three
29:24 months and realize, hey, these two
29:27 strategies are not really working for
29:29 me. Doesn't mean that, you know, there's
29:30 not a strategy out there. It just means
29:32 you got to change the strategy. And it
29:34 also doesn't mean that the time you
29:36 spend watching the market is wasted
29:37 time. A lot of people think that way and
29:39 they instead of change the strategy to
29:41 something else, they want to force those
29:42 strategies into a live environment and
29:45 that's when things go really bad. So,
29:47 take your time in the simulator. Um,
29:49 don't move to a funded account. Don't
29:50 move to a live account until you
29:53 actually have a strategy that you can
29:56 trade. Um, as humans, we like to, cuz I
29:57 did this. Well, some of us, not all of
30:01 us. We like to only take things serious
30:03 when it's real uh skin in the game,
30:04 right? Like, oh, it's a simulator. Who
30:07 cares? I have certain certain people
30:08 think that's okay. Hey, it's a
30:10 simulator. Just play around. But my the
30:12 point is to get you ready for that. It's
30:14 like taking a a a driving test, right?
30:15 And you're just messing around. So,
30:17 you're learning how to drive. Are you
30:18 going to be doing that when you get get
30:20 the exam when you actually are on the
30:22 road? No, you're not. So, trade this
30:25 like a real account. Get the experience,
30:26 get the screen time, and then prepare
30:29 yourself to move to a a uh a funded
30:31 account and then eventually your own
30:32 account, right? That's the purpose of
30:35 this um questions here. Let me get to
30:37 some how to help distinguish between a
30:39 trade bias and a solid trade hypothesis.
30:41 is a hypothesis formed from the
30:43 combination of the news indicators in
30:49 chat. Yes. So you can have um a a
30:51 thesis, right? You can have your thesis
30:53 where you think okay the likelihood of
30:55 this happening is uh this could be a
30:58 long opportunity. You can have that and
30:59 that's okay and I have that all the
31:00 time. I had it today with Amazon, right?
31:02 And and unfortunately got got stopped
31:04 out twice. Eventually did drop uh the
31:06 level I was expecting, right? Just my
31:08 timing was off. So you can have that,
31:10 but at the end of the day, your trading
31:12 execution should be on your strategy,
31:14 right? And your strategy should not
31:18 really have a bias or or
31:20 a news-driven event that's driving that
31:21 strategy. That strategy, at least for
31:23 technical traders, is based on your
31:25 technicals, right? If this pattern shows
31:27 up, if the volume is this, if this level
31:29 gets broken, if we get a if we get
31:31 confirmation here, then we take our
31:33 entry, right? That's really what your
31:35 your trading should come down to is that
31:36 strategy, right? And we can talk about
31:38 that. a whole different webinar. We can
31:41 get into that at a later time. How do
31:42 you how long do you need to make money
31:45 in sim before going live? I I want to
31:48 say at least two to three months, right?
31:49 You don't want to wait too long. You
31:50 don't want to wait like seven, eight
31:53 months in simulator. You know, uh I only
31:54 did seven months because I was stuck at
31:56 a job and I was just going to wait till
31:58 I was done. Uh I was uh laid off at the
32:00 end of the year. But you don't want to
32:01 wait that long. You know, you want to
32:03 start getting the feel for trading real
32:05 money, for having skin in the game. So,
32:07 you know, go to a funded account after
32:08 two, three months of, you know, actually
32:10 trading well, not making rookie
32:12 mistakes, right? You are going to make
32:13 rookie mistakes. You're going to take
32:14 the take a long, you want to take a
32:16 short, you know, get that stuff out of
32:19 the way, get the the nervous things out
32:20 of the way first, become confident in
32:23 the platform, understand your tools, uh,
32:24 and then that's when you're ready to go
32:26 live. But at least two or three months,
32:28 you know, trading well, then you can
32:30 start thinking about, you know, getting
32:32 a funded account, getting a a brokerage
32:35 account. All right. Um, if you work
32:36 full-time in the office during the
32:38 market hours, what's your best advice
32:39 for using a simulator? So, that's when
32:41 we get into the replay simulator, which
32:42 actually I missed a put on here, the
32:44 replay simulator. That's when you get
32:46 into that. And I think that can be very,
32:48 very helpful. So, if you're working
32:49 full-time and you're stuck in a 9-5, use
32:52 a replay simulator, right? Go back and
32:53 don't go back to like today's day. Go
32:55 back to like last week, right? Aiman
32:56 does a great job of giving you guys the
32:58 tickers that were in play that day.
33:00 That's also available on our website,
33:02 Bear Traders. You can go in there, look
33:03 at the stuff that was in play. you can
33:05 see what other moderators were watching.
33:07 So, if you find yourself trading like
33:09 Brian, trading like Thor, trading like
33:11 one of the moderators, you know, look at
33:14 what stocks they had in play for that
33:15 day, put those tickers on your watch
33:17 list and then then just play the replay.
33:19 Play the replay and act like it's the
33:20 market open, you know, and you're going
33:21 to get that screen time. You're going to
33:24 see the way the price action moves. Be
33:26 surprised. I see a lot of people don't
33:28 do that. And this is the part where you
33:30 got to spend time in the back end. You
33:32 don't become a trader just at the market
33:33 open when the bell rings, right? There's
33:35 a lot of work that's done behind the
33:37 scenes outside of the market that can
33:39 prepare you, right? The simulator is a
33:40 great one, right? The replay simulator.
33:42 So, take advantage of that, right? Uh
33:44 and then eventually uh when you know
33:46 whether your time changes with your job
33:48 or you're able to take the mornings off
33:49 or you have some availability during
33:52 that that market hour, you're prepared,
33:53 right? I know a lot of people they say,
33:55 "Oh, I'm not going to learn how to trade
33:57 yet because I'm I'm stuck at a job and I
33:59 don't have any idea when this is going
34:01 to change." Start start practicing.
34:03 Start practicing because when you are
34:04 ready, you're going to hit the ground
34:05 running, right? So, if you know this is
34:07 something you want to try, spend the
34:09 time practicing, you know, one hour a
34:11 day at night, you know, and do the
34:13 simulator. Uh, and yes, it might feel
34:15 like, oh, this is useless, but trust me,
34:18 it is extremely helpful. Screen time is
34:20 something that we don't give uh a lot of
34:22 credit to. Um, and a lot of people don't
34:24 talk about it, but screen time is key,
34:26 right? When you see Andrew trade
34:28 sometime he takes trades that you're
34:30 like, okay, I don't I'm not sure what
34:31 he's seeing in there. It's just a time
34:33 and see. He's been trading for 10 years.
34:35 Been looking at charts for 10 years.
34:36 You've been looking at uh pricing
34:38 patterns for 10 years, right? So, this
34:39 is something that's going to stick with
34:41 you and it's going to make you a a
34:44 better trader. Um, uh, yeah, Jeremy, so
34:46 you've been using it. Awesome. Yeah,
34:47 they're really really good. They're
34:49 really really good. Right. So, don't
34:51 feel like you're you're stuck without an
34:52 out. There is a way for you to still get
34:56 practice uh uh and get going there. Uh
34:57 when you started playing with real
34:59 money, did you have a daily profit
35:01 target percentage on your account? And
35:04 if so, what percentage was it? So, I I
35:06 went through um I went through some some
35:08 tough times when I when I went live. I
35:11 started risking 250 uh per trade, which
35:12 I found out quickly was way too much,
35:14 right? So, my plan was, hey, I'm going
35:17 to going to make $500 a day and and and
35:19 that that'll be it, right? Not the way
35:21 it works out with with live trading.
35:22 Didn't work out very well. You I did get
35:25 some wins. I remember and I told the
35:27 story before. I remember
35:29 at one point I had a I had three weeks
35:32 where the first week was like a,500 we
35:34 made. The second week was like 2,000.
35:36 The third week was like almost 3 4,000.
35:38 This is a brand new trader. Brand brand
35:40 new, right? So, yes, it was great when
35:42 things were working out. But the problem
35:45 with that is I was risking way too much,
35:46 right? Risking way too much. If I can go
35:49 back and redo my simulator experience, I
35:51 would have done it with less shares.
35:53 Risking a little bit less. Like if it
35:55 was something realistic, right? Uh and
35:58 after I had my my huge loss, I lost
36:00 $17,000 with bad habits and all that
36:02 stuff. After I had that loss, I reset
36:05 it. I'm like, I really got to go back
36:08 down to Oh, wow. It's pouring out there.
36:09 And I left something out that I got to
36:47 All right. Sorry about that. I left my
36:48 leaf blower out there. I was blowing
36:50 leaves before I started doing the chat
36:51 here, so I had to run and get that. [laughter]
36:53 [laughter]
36:54 No, the bike is inside. Never leave the
36:57 bike outside.
37:00 All right. So, um, so yeah. So, I I had
37:02 a realization. I got to start forgetting
37:03 about the money and think about the
37:05 process. So, what I did was I literally
37:08 went down to $20 risk, right? $20 risk
37:10 per trade. And it was a group of us. It
37:11 was three of us. We started holding each
37:13 other accountable. We were struggling.
37:15 We were really struggling. And I was
37:18 like, "No, I got to really uh focus on
37:21 $20 risk, no more than that, and try to
37:23 make 40." And it really helped. And then
37:25 slowly every month if we if we did well,
37:27 then we pushed pushed it up, right? So,
37:30 so that's how we did it.
37:33 All right, let's uh continue here. Okay,
37:36 Mark Atlas, another tool that it's not
37:38 new, right? This thing has been out for
37:40 quite some time. And um and if you look
37:42 at it, not Atlas itself, but for
37:43 example, book bookmap, right? It's been
37:46 out for a while. I never really used it.
37:47 I heard a lot of people rave about it
37:49 like Thor. Thor has been telling us to
37:53 use bookmap for a couple of months now.
37:56 And you're like, okay, you know what?
37:58 this the tools I had was working so I
38:00 didn't really bother with it but when it
38:02 became part of my membership with with
38:04 uh trading terminal like let me take a
38:07 look at it is really good it is really
38:09 really good so here's another tool
38:11 that's part of your trading terminal uh
38:12 membership that you don't have to pay
38:14 extra for right um when you start
38:15 looking at all these tools separately I
38:19 think uh bookmap is probably what $34
38:20 $40 depending where you get it from I
38:22 think they have different uh tiers of
38:24 membership but the one I saw was like
38:27 $34 you know, it it starts to add up.
38:28 So, you get this now you get a Dash
38:31 Trader Pro Simulator is 150. You know,
38:33 you're looking at almost 400 bucks a
38:34 month, right? You got your membership
38:36 with BBT because you're part of a
38:39 community. Um, adds up. It adds up
38:41 pretty pretty fast. So, with Trading
38:43 Terminal, we created Market Atlas. And
38:45 man, what a great tool it is. It really
38:48 helps you identify levels of support and
38:50 resistance. Now, I'm pretty new to it,
38:51 so I can't talk to all the things you
38:53 can do with it. Um, Nathan Thor could do
38:55 a way better job at that, but it's
38:56 becoming one of the tools that I'm
38:58 getting very familiar with. And I'm
39:00 really enjoying some of the visuals on
39:01 here, right? And the one thing I like
39:03 the most, this what you don't get out of
39:05 level two, right? In level two, you see
39:08 it real time where the where the um
39:10 where the demand and the supply is. And
39:12 I got a great webinar for you new
39:14 traders, right? If you're new, uh I got
39:16 a great video on YouTube. I'm put the
39:17 link out here. Actually, Dwayne, if you
39:19 could get that link, it's the one that
39:21 we talk about uh the supply and demand.
39:23 and I did like 5 years ago. To this day,
39:25 still the it's still the same. That
39:27 video still applies. It's still the way
39:28 we look at level two. It's the way
39:30 Andrew looks at level two. So, when
39:32 Andrew did that presentation, he did the
39:34 presentation. He asked me to actually
39:36 record and put it on YouTube, but it's
39:38 his presentation as far as how he looks
39:39 at the level two. And to this day,
39:41 that's how we do it. What the market
39:44 atlas does, it provides a more visual
39:45 and better understanding where these
39:47 levels are at. And what I love about it
39:49 is the history on it, right? So, for
39:50 example, you can see the history like
39:53 here this price, you know, 200 obviously
39:54 is a big level, but you could tell if
39:57 buyers are still sitting here or if
39:58 they're getting lighter. You can tell
40:00 what's happening in real time plus the
40:02 history of it for the last couple of
40:04 minutes, which can be very important,
40:05 right? To see how things are developing.
40:07 Are are we losing ground? Are we losing
40:10 bids? Is it going lower? You don't have
40:11 that with the live level two on Dash
40:13 Trader Pro. So, this is extremely
40:15 helpful helpful. Um, highly recommend
40:18 it. Again, I know there's more to it,
40:19 but I'm just starting out with this
40:20 tool, but this is something as a new
40:23 trader that you can quickly uh put on
40:25 here and add to your to your to your
40:27 tool belt, right? So, very very nice.
40:29 Um, we done a pretty good job with this
40:30 one. And again, it's part of your
40:33 trading terminal uh membership as well.
40:36 Um, no, that's that's not the one. Uh,
40:37 Dwayne, let me see if I could find it
40:39 here for you guys. I think this is if
40:40 you're if you're starting out, level two
40:43 can be a little bit tricky at first and
40:46 this will break down uh the details that
40:48 you can use it. Let me see if I can find
40:50 it here.
40:51 Okay, Dwayne's giving you the replay.
40:56 Awesome. Let me see here. Level two. Uh
40:59 just going to get this so I don't forget
41:00 how we doing on time. Okay, we still got
41:07 Okay, so here it is. Yes, got it. All
41:10 right, let me Oh, yeah. Dwayne, that's
41:13 it. Yep, that's the one from six years ago.
41:15 ago.
41:19 Yep, that's it. Yeah, Seth, it is it is
41:21 much easier to read. Uh it's a tool that
41:24 I did not um start training with when I
41:27 did my my simulation or my live trading,
41:29 you know, for all these years. But it's
41:30 really nice to be able to see. It's very
41:33 straightforward. Uh the level two moves
41:35 very fast so it's hard for people to see
41:37 um you know what's really happening to
41:38 keep track of the numbers and everything
41:39 else. It could be a little bit
41:41 distracting. It could be actually
41:44 overwhelming. Right. So the atlas it
41:46 gives you a better visual on how things
41:47 are placing where the bids and the
41:50 buyers are. So this could be extremely
41:52 uh extremely helpful.
41:55 All right. Let's see here. All right.
41:57 Funded account. All right. So now you
41:58 have all your tools in place. You have
42:00 your scanners. You you practicing the
42:02 simulator. Now you are ready to try a
42:05 funded account and and the purpose of
42:07 the funded account is for you to put
42:09 some real skin in the game, right? Some
42:11 real skin in the game where now you are
42:12 actually paying for this, right? You're
42:15 paying I think it's uh 300 bucks or
42:16 something to sign up for it. You're
42:18 actually putting money on the line now,
42:19 right? You can actually make money if
42:21 you are able to follow all the rules. If
42:23 you're able to, you know, stay
42:25 profitable, you can actually make money
42:26 out of the account within 90 days,
42:28 right? Andrew Andrew will definitely pay
42:31 you out. But that's just part of it. You
42:32 know, a lot of people are join joining
42:34 the funded account and what they're
42:35 doing is they're just want to get the
42:38 payout. That's the least of of the goal
42:40 there. Great. If you can make money and
42:42 you get paid out, awesome. But the idea
42:44 is that if you can make money here, if
42:47 you can become profitable, you know,
42:50 with the commissions that we just added,
42:51 uh, with the real life market
42:53 environment, then you're ready to move
42:57 to a real account. Like if I if I if I'm
42:58 starting out and I cannot make money in
43:00 a in a funded account, then there's no
43:02 reason for me to go start risking my own
43:05 money now, right? You have to make money
43:06 here and not just one or two days
43:09 because I think every everyone here can
43:12 make money in one or two trades. It's
43:15 not it's not rocket science. The the
43:16 hardest thing with traders, this
43:18 something that um we have talked about
43:20 before, we can teach you how to make
43:22 money trading. That is I don't think
43:24 that's that's a problem within the
43:26 trading community, especially retail
43:28 traders. The issue is the biggest
43:30 problem that new traders have when
43:31 they're starting out and even some
43:34 experienced traders is keeping the money
43:37 that they make. That is by by far one of
43:39 the hardest things that we've seen and I
43:40 should have had it here. I wish I would
43:42 have thought about it but as we're
43:45 talking now I cannot explain to you how
43:47 many equity curves in the funded account
43:50 in the boot camp uh in other in other
43:52 mentorship that I've done in the past
43:54 where people's equities they're doing
43:56 great they do awesome like oh you figure
43:59 it out you got this and then all it
44:02 takes is boom one or two bad trades and
44:07 they give it all back all back you know
44:08 and and that's the problem how can we
44:12 help these traders just stop. Just stop.
44:13 I know part of it is psychology and
44:16 everything else. Um but this is a big
44:18 big problem in the retail trading
44:19 community that these guys know how to
44:21 trade. They know how to make money. They
44:23 know how to take strategies. They know
44:25 how to do um you know what they need to
44:28 to actually make money and grow their
44:30 account, but it just takes one or two
44:32 days to blow it all up, right? And part
44:34 of it obviously psychology um but not
44:36 having enough practice and going
44:38 straight into you know into an
44:40 environment where you start risking your
44:42 own money could be could add even more
44:44 pressure right so this adds pressure but
44:47 not to the point where it's so is as
44:48 tough as it is when you're trading your
44:50 own money your own hardearned money
44:53 right here you put in 300 bucks you got
44:56 it for 90 days you know do your best to
44:59 be profitable to show that okay I can
45:01 actually handle this I can actually you
45:02 go into a live account where now I'm
45:04 risking my own money. So the goal here
45:06 is to experience different market
45:07 conditions or experience everything
45:09 before you open up your own money and
45:11 you open up your broker account. That's
45:13 the idea, right? So I think everyone
45:15 before opening a broker account, do the
45:17 funded account challenge. See if you can
45:18 make money there. If you could make
45:20 money and you could keep it, that's the
45:22 thing. You could keep it, then you're
45:24 ready for your live account. Other than
45:26 that, you should not be trading your own
45:27 money just yet because you haven't
45:29 proven to yourself that you're ready,
45:30 that you actually have the experience to
45:32 actually start managing uh an account
45:36 that's, you know, $30,000, $25,000 in
45:38 the market, you know, where where
45:40 there's no there's nobody that's going
45:42 to stop you. You're not trading with
45:44 with a firm where they have rules and
45:45 regulations where they're watching over
45:47 your account. It's just you. So if your
45:49 psychology takes over, which usually
45:51 what happens here, if your psychology
45:54 takes a a detour, you know, it's going
45:56 to cost you a lot. Not just the 200 for
45:57 the funded account, the 300 for the
45:58 funded account, it's going to cost you a
46:01 lot more, right? So why not invest that
46:03 first in a funded account, see that,
46:05 okay, I can make money. I can keep the
46:07 money within 90 days. You can keep money
46:08 within 90 days. You could be profitable
46:11 within 90 days. You're ready for a live
46:13 account. You're ready for a live
46:14 account. There's no need to do the
46:16 funded account again. do the live
46:18 account, move over and and uh and start
46:19 doing the same thing you've been doing
46:21 in this situation, right? That that's
46:23 ideal. Let me get some questions here. Um
46:25 Um
46:27 uh let's see here. Uh I'm not sure why
46:29 I'm getting these messages, but I see
46:30 Dwayne. Oh, Dwayne, you're answering
46:32 messages that are private. I don't know
46:34 how that works. Okay, cool. Let me see
46:36 over here. What do we have? Um Carl, I
46:38 found the link here to the on boarding
46:42 link. There three weeks three weeks I
46:43 tried to get some on boarding class.
46:44 We're doing on boarding class right
46:45 after this. Right after this, we'll do
46:48 on boarding class. So, um yeah, I got
46:51 Oh, man. 751. Time is running. Uh do you
46:52 still have the same trading station set
46:56 up as you did in the video? Um on that
46:58 video, no, that I think that's six six
46:59 monitors. No, I don't have that anymore.
47:01 I only have three monitors now. I do
47:02 need to get one more monitor because now
47:04 I have when I have market atlas on a
47:06 separate monitor, there's a lot of tools
47:07 that I want to have now. So, I'm going
47:09 to get one more. But starting out as a
47:11 new trader, two, three monitors is all
47:14 you need. you know, and and a lot of you
47:15 guys could start with what you have
47:17 right now, maybe two monitors, right?
47:18 And if you only have one, you know,
47:19 invest in another one. Get a used one
47:21 from from Best Buy. Go see what they
47:22 have refurbished. Walk through their
47:23 little thing there. They have some open
47:25 box stuff that's pretty cheap. You can
47:27 get a decent monitor for almost u 90
47:31 bucks. A good monitor for 90 bucks uh uh
47:34 at uh at uh Best Buy, right? So, a pawn
47:37 shops or that too. Exactly. Um, how long
47:39 will you practice in simulator? Assuming
47:41 you are doing well before you uh pay for
47:42 the funded account. Two to three months,
47:44 no more than that. Two to three months
47:46 you're doing well. Move to a funded
47:47 account. Start putting some skin in the
47:49 game. Um, two three months you're doing
47:51 well. I think it's time to to, you know,
47:54 to take the next step. Uh, can uh where
47:56 can I learn about the scanners, filters,
47:58 alerts? you know, we I have a actually
47:59 when I was putting this presentation
48:02 together, I have a presentation um
48:04 showing all the the scanners, every
48:06 single scanner that we have on train
48:08 terminal. So, maybe I'll do a video that
48:10 we put up on YouTube, make it public for
48:12 everybody and uh and I'll do some new
48:14 slides with the new features that we
48:16 have now for the scanner. So, I do have
48:18 all of that. Um maybe I'll put a video
48:19 together this week for you, Ralph. Uh
48:22 can you do TT funded account again if
48:24 you are profitable and get payout? I'm
48:26 not sure Sean if that's one of the
48:29 conditions but again if you are why why
48:31 go through it well I can see you know if
48:33 you if you if you don't have the PDT
48:35 which by the way should be going away
48:37 beginning of next year which is going to
48:40 be another problem in itself for brand
48:42 new traders because now now that a lot
48:44 of people can actually open up an
48:47 account with I think it's 2500 is what
48:49 the PDT is going to move down to you're
48:51 gonna have a slew of these brand new
48:53 traders right that are not taking the
48:55 right steps like you guys are going into
48:57 the market to trade because now they can
49:00 day trade. Um, and it's good. I'm all
49:02 for the move down, but I'm also all for
49:04 you need to know what you're doing,
49:08 right? I if if money is not the problem
49:09 as far as day trading. It's the
49:11 education and the training part that's
49:13 the issue, right? Um, so you're going to
49:15 have all these brand new traders now
49:18 putting in their 5K and just making a
49:20 mess, right? So hopefully that they find
49:22 their way to get some education first
49:25 and before they start actually uh
49:26 trading their actual money, right?
49:28 That's going to be very very important.
49:30 Um but I see that happening. I see that
49:30 happening where a lot of people are
49:32 going to go in there and just start
49:33 messing around with their live account,
49:35 not go to the simulation, not do the P
49:37 the funded account, and they're going to
49:38 be in for a shock, right? Because this
49:41 is not easy. Um what's a good platform
49:44 for Mac Dash pros or parallels? Um
49:45 actually, we'll talk about that in a
49:48 second here. Uh I have so that's the
49:50 funded account. Again it's it's I think
49:53 it's a step everybody should take and I
49:56 wish when I started we had something
49:58 like this. We went from simulation
50:01 straight to trading real money, right?
50:03 And you don't there's no buffer in
50:05 between to help you get ready for that,
50:06 right? Uh and yes, you're still going to
50:09 be nervous. You're still going to uh uh
50:10 you know have those jitters when you go
50:12 live on your broker account. That's
50:13 going to happen. Especially that first
50:14 trade. I remember like it was yesterday.
50:16 My first live trade after I went through
50:19 my simulation was it was it was it was I
50:20 was nervous. I was nervous. My palms
50:22 were sweaty. I still remember like it
50:24 was yesterday. Um this is a good buffer
50:25 because you got skin in the game is
50:27 going to help you prepare for that. All right.
50:28 right.
50:31 Yeah. Uh Ali, so they're work already
50:34 the PDT right now is set up to 25,000
50:38 right here in the US. Um FINRA already
50:40 approved their board already approved
50:42 bringing it down to 2500. now is is
50:45 waiting on the SE uh SEC and some other
50:47 uh uh boards to approve it and then once
50:49 that's done then the restriction will
50:52 come down to uh to 2500. But the fact
50:53 that it went to the first hurdle already
50:55 and it got approved most likely it's
50:57 going to happen. It's just a matter of
50:59 time where a lot of experts are saying
51:01 by the beginning of next year it it is
51:03 it's going to be a huge game changer if
51:05 you can trade with $10,000 right opposed
51:08 to having 25K. You know, I know traders
51:10 that have the money and they don't want
51:12 to put, you know, their 40,000 in the
51:14 trading account because first of all,
51:16 they either don't trust themselves yet
51:18 or they're just not ready to risk that
51:19 much on a venture that they don't know
51:20 if they're going to be good at. So, to
51:22 start with a small account, you know,
51:23 makes sense. So, I'm looking forward to
51:24 that. And it's going to take some time
51:26 for all the brokers to actually
51:28 implement that change, which I'm sure
51:30 they're going to do very quickly. I'm
51:32 sure Interactive Brokers like in a week
51:34 is going to have that done. Why? Because
51:35 it's more transaction fees for them,
51:36 right? It's more accounts being opened
51:39 up. That's not going to take long. Uh
51:40 we're just waiting for the approvals to
51:43 uh to take place here. Um there's not a
51:46 PT uh PDT restrictions for options, but
51:48 options like Andrew said today, they're
51:50 difficult. They're they're difficult and
51:51 you got to know what you're doing. And
51:53 when you're playing with leverage,
51:54 right? One of the biggest problems we
51:55 have in the trading in the funded
51:57 account is that people take a bunch of
51:59 leverage, right? uh they they'll we'll
52:02 give you a 12,500 to start with a buying
52:05 power of 50,000 and people are using the
52:08 50,000 on a trade like that's too much
52:10 leverage. Options can be even worse. So
52:12 you got to be really careful when it
52:15 when it comes to to options. Um I'm
52:16 going to move through this very quickly
52:17 guys. I just noticed the time we're
52:19 running out pretty quick here. Uh moving
52:21 to a professional platform. Then once
52:22 you're once you pass the funded account
52:24 then move to a professional platform
52:26 like Dash to the Pro. We kind of spoke
52:28 about this a little bit. How to be when
52:29 to know when you're ready to move to an
52:32 account uh to a pro platform. I think
52:33 within two or three months of of good
52:35 trading where you're following your
52:37 rules, you have a strategy, you have a
52:39 trade book, right? Um we we have tons of
52:40 videos about how to build your
52:42 tradebook. The boot camp is all about
52:44 that. How to build your tradebook, how
52:46 to set it up. Um that's important,
52:49 right? Uh doesn't matter how many tools
52:50 you have, right? You could have all the
52:52 best professional tools in the world. If
52:54 you don't have a tradebook to follow,
52:56 you're not going to be successful,
52:57 right? That's like opening up a business
52:59 without a business plan, you're not
53:02 going to succeed, right? It's just the
53:04 way it is. Um, and then with everything,
53:06 these tools are expensive. So, look at
53:08 your trading budget, right? Look at your
53:11 trading budget and see, okay, how can I
53:13 what tools can I afford uh with my
53:15 budget, right? The great thing about
53:18 Trading Terminal is $99 a month. Um, and
53:21 you get all these tools, right? You get
53:22 the simulator, you get the um you don't
53:24 get the funded account, but you get the
53:25 simulator, you get the scanners, you get
53:27 market atlas. I mean, right there you
53:28 have three things that you will be
53:31 paying for if you were to go separately,
53:32 right? So, this is a great deal that
53:34 Andrew has put together. I know it's not
53:36 going to stay at that price. Um so,
53:37 think about it. I always tell people,
53:39 try it out. If it's something you like,
53:40 definitely stick with it because the
53:42 price is going to go up to be able to
53:44 help for all the data that he's spending
53:46 and the developers. These guys are not
53:48 cheap, right? Um, so we got to pay these
53:50 guys to to make sure they keep uh this
53:52 tool up and running and also ma make it
53:54 nicer than what it is right now. So take
53:55 advantage of the replay, take advantage
53:58 of the simulator this all available to
54:00 you. Um, Dash is really good. Going back
54:04 to TT is pretty tough honestly. Yes.
54:06 Yes. Dash is a professional platform. If
54:08 you're able to if you're able to um
54:10 afford Dash right out of the gates, do
54:13 it. You know, Dash is a pro platform.
54:15 This is why um people ask, "Oh, are you
54:16 guys going to be able to attach the
54:18 trading terminal to a broker account to
54:20 trade with?" And Andrew is like, "No,
54:22 why would I do that?" Das is the Das
54:24 already has it figured out. They got the
54:27 best tool when it comes to uh to
54:29 trading, right? It is awesome. And I
54:31 agree, Mike, I have tried to when I
54:34 first started, I tried to, you know, I
54:36 was struggling. I was paying 150 for
54:39 just the simulator on that. I was not
54:40 even trading real money. I was paying
54:43 150 a month for the simulator and I'm
54:44 like, you let me see if I could use
54:47 something else, a TWWS or Think or Swim.
54:49 It just doesn't work for my strategy. It
54:50 just doesn't work. It was very very
54:52 difficult to do that. Hey Dwayne, you
54:54 want to open up the class and and I'll
54:55 start heading over there in a second
54:56 because 8:00, but I want to I want to
54:58 make sure I finish up with you guys
55:01 here. Um, so it was very difficult
55:02 because Daz does a good job. But if
55:03 you're brand new, you can still use a
55:06 simulator here, get started, save some
55:08 money, and then eventually, I agree,
55:10 Mike, you got to move to a uh a Dash
55:13 Dash platform, a pro platform. Dash is
55:15 not the only one, right? We're we're not
55:18 uh uh you know, pushing D on people, but
55:20 it is the one we use for a reason. There
55:22 are other market direct market access
55:25 platform out there, but DAS, attached in
55:27 the brokers, they do a really, really
55:29 amazing job. All right, let me try to
55:30 get to some of these questions. I'll
55:32 have to stop here. Um, let me see if I
55:33 can get to somebody's question. Sorry,
55:35 I'm off topic. One personal question I
55:37 want. I am beginner and I want to quit
55:39 my job. I give uh one year to learn and
55:41 enter the real market. Is that a good
55:44 time? Well, anyone that asks me should
55:46 they leave their job? My answer is no.
55:49 Don't quit your job. Fine. You got
55:52 understand that trading brings a lot of
55:54 pressure to make money. Now, if you have
55:57 the funds to survive, you know, uh your
56:00 daily expenses for a year and you don't
56:01 have to worry about making money from
56:03 trading, right? If if you don't have
56:06 that pressure, then by all means go for
56:08 I know some people that they have a good
56:10 amount of money and they, you know, I
56:11 can survive for a year, two years and a
56:13 half with no worries and they're, you
56:15 know, they they left their job or
56:17 thinking about leaving their job. Great.
56:19 But it adds a a level of pressure,
56:21 right? When I got laid off, I got a
56:24 boatload of money. And even then, I
56:27 still felt the pressure to make money,
56:29 right? So, I don't recommend you do
56:31 that. I rather recommend you try to find
56:33 a different job that can cover the
56:34 expenses, even if you have a lot of
56:36 money. Cover the expenses if you can,
56:38 the daily expenses, and then trading
56:40 become less stressful. You know, you
56:42 don't want that pressure of, okay, I
56:43 have a I have this time frame to try to
56:45 make money, so see if I can survive off
56:46 of this, right? You don't want that
56:48 level of pressure. But now, if you have
56:51 enough and you're able to uh to plan
56:53 that very well, if your living expenses
56:55 can do it, by all means, give it a shot.
56:56 That's probably one of the fastest and
56:58 best way to do it if you can focus
57:01 completely on trading. But to balance
57:02 the pressure of having to make money out
57:04 of something that's very difficult is
57:06 very tough. Is very tough. So, you want
57:08 to be very very careful with that. All
57:10 right. Um, do you have any advice for
57:12 preparing for fees, commissions, and
57:14 live trading? Um, that's what the funded
57:15 account does, right? The funded account
57:17 has commissions on there. So you see
57:19 real time where you know especially when
57:21 you're trading small you're going to hit
57:22 with those commissions and you're going
57:24 to see what this would be like in a real
57:26 live environment. So um you want to try
57:27 that first and you're going to get a
57:29 real feel for what it's like when those
57:31 commissions come in because they do add
57:32 up. I remember having days where I
57:34 traded a boatload was negative came back
57:36 up to break even made a little bit of
57:39 money after trading my butt off. When I
57:41 went to my interactive brokers account I
57:42 was negative because the commissions
57:44 were like 400 bucks right from all the
57:47 trading I did right. So it gives you a
57:49 real life perspective on on how how that
57:51 is, right? It could be exactly it could
57:52 be a real awakening, right? So the
57:54 funded account is going to help with
57:56 that to give you a realistic expectation
57:59 of what your your net profit is going to
58:02 be at the end of all these trades. Okay.
58:04 Uh let's see here. I think I got to
58:07 request. So after TT Simulator, we still
58:10 better go to DAS, right? Um it depends.
58:12 I will suggest funded account first.
58:14 That's my suggestion. If you want to go
58:15 to that, that's that's more of a a
58:17 question that you a decision that you
58:18 have to make. I recommend go to the
58:20 funded account. I think it's a great
58:22 tool to decide whether you're ready or
58:24 not opposed to doing it on your actual
58:26 account, right? Um what what Mike was
58:28 talking about is once you start trading
58:30 in DS, then it's difficult to use other
58:31 platforms because you get so used to
58:33 some of the professional tools that they
58:34 have. But if you haven't done that
58:37 already, do the funded account, you
58:39 know, get that get that uh get that
58:41 experience and then move over to a
58:43 professional platform. then open up your
58:45 own account.
58:47 All right. All right, friends. I have to
58:49 run to the on boarding class. I I wish
58:51 we had more more time. We can always do
58:53 this again. I think definitely I want to
58:54 do one with the scanners on the
58:56 criterias. I think that would be a
58:59 really good uh webinar as far as how to
59:00 use every scanners, what they're going
59:02 to help you identify, what strategies
59:04 those scanners can be good for. Uh and
59:05 we're talking about these over here,
59:07 right? We're talking about the uh all
59:08 these scanners here, right? The extreme
59:10 reversals. I have a web I have a webinar
59:12 where I explain what all of these are
59:14 good for and what they can help you
59:16 with, what strategy, what you're looking
59:19 at uh at them for. So I think that'll be
59:21 the next webinar we do. I think it'll be
59:22 very useful and we'll do it here. We'll
59:23 do an in training terminal webinar as
59:26 well free for you guys. So guys, thank
59:27 you so much. I appreciate you guys
59:29 taking the time to be with with me here
59:31 tonight. This is recorded so we'll put
59:33 it up on the website. Um, once again, if
59:34 you have any questions that we didn't
59:37 get to today because we ran out of time,
59:39 um, carlosbearers.com,
59:41 send me an email there and I will get
59:43 back to you as soon as possible. Okay?
59:45 Usually within 48 hours, uh, if I'm not
59:47 behind on on the madness. But, but yeah,
59:49 send me an email there and I would love
59:50 to hear from you. And guys, take care.
