OVERTRADING Is A Guarantee You’ll Stay BROKE

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2:35Taxes and fees extra. See full terms at mintmobile.com. What's the trading tip of the week? I was having a great conversation today. And I know there's a lot of fear in the market, but just because there's more volatility in the market doesn't mean it's time to take more trades. like some of you are having arguments with your business partners, your husbands, boyfriends, girlfriends, wives before you're trading, just because there is a precipitous incline in volatility and information, don't deviate from your 12 trades per year. Like if you're trading futures, if you get 12 good trades, you should hit a thousand to 3000 % return.

3:20Trading has considerable risk. Please consult your advisor, consult your broker statements, et cetera. Right. But some of you are taking one great trade winning and then saying, oh, let me do this three more times to make up for the misses I had before. And now you're giving all your gains away or even worse blowing your account. So just because we have more volatility, it does not mean to take more trades. Less is more. I know it's a thing you don't want to hear, but for those of you who have taking 30 to 40 trades in the month, did it work for you in your favor? Even though we have in these issues week to week, we've been 30 days into the war.

3:59The people who've made the most money are the ones who held their trades for the longest. Less is more just because there's more volatility. Don't trade more. You can do whatever you want, but if you lose, you deserve to be broke. Back to you, Tron Rashad. You definitely deserve to be broke. it's interesting because it fits in that same realm of over trading. I think especially for us when we talk about long term trading I always say that the best asset is time. Absolutely. If you're trading options, you're buying equities or indexes, ETFs buy time. Buy time. I know and I got a few texts about it like man my account is hurt, it's hurt, it's hurt.

4:45I'm like this is week five of a war yeah you're going out a week and a half or two weeks if you went out a year you will be fine so so buy time it's important and then when you start to see your account go in a different direction right this is why having that plan before you you you enter any position is important having that stop loss is important understanding like there's going to be pulled backs, understanding, hey, where am I taking my profits at? All those things are important and they become even more important when there's volatility. But like I said last week, if you can find clarity in this uncertainty, there's going to be some opportunities for you to make money if you have a long-term vision, which is why buying time is vitally important.

5:31So my thing would just be buy time, buy time. It will always work in your favor from a long-term perspective and even from a LEAP perspective as well. The Sunday market jump has been a relatively new thing for most traders. The move is not always going to present itself. I remember maybe even eight years ago, I was always looking at your gas on Sunday evening, and you kind of want to force a move. If it's not there, go to the London. If it's not there, go to the American Close. But some of you are wasting great volatile situations, burning through your account, not being disciplined. Like somebody today was like, oh, I went long.

6:07why did I get chopped? I'm like, what news is positive for you to go on? It's tricky because I understand it. And I've had this question as well. Again, when you're watching Sunday night and you start to see the futures market for the Dow, the NASDAQ, and S &P, even last night it was like negative and then you wake up and it's positive and the Dow's up 300 points on news that there might be an end to it. And I feel like we've been recycling the same thing. for the past four weeks. Sunday night, it's, oh, we're close. We're going to do this. And by the time the market opens, it's a complete reversal.

6:45Because at this point, yeah, it's the taco effect, right? Like, we've heard it, but the sustainability of it now, it's worn off. It's like, it's either we're going to escalate or we're going to end. And I'm not sure which one's going to happen. It feels more like, right? It feels more like escalation is where we're headed. But then you'll hear reports today saying, hey, we're pretty close to a deal. And then, you know, by 945, the other side will say we've never even spoken to them. There is no deal. Yeah. So it's very confusing. And I understand people's appetite. They're like, wait, I don't even know what to do.

7:25Sit on the side. By your time. And Rashad, real quick before you go, can I give you guys an indicator that the market is not good? Bill Ackman gets on Twitter and tells you what to buy again like in 2020. Hey, Fannie and Freddie are a great investment. Whenever Bill Ackman comes out and starts to front run the news and tries to act like Wall Street Jesus, we may see a turnaround soon, but that's usually not for the public's benefit. Remember when he went on CBC and almost cried and did the little war saga? And made$6 billion right after that? Yes. be mindful at every turn we're seeing manipulation of the highest order look at your monthly time frame your week allegedly allegedly and if they are not all in alignment now is not the time to buy but when powell is saying you know that we need to rebalance even the united states debt to gdp which i've talked about forever that's a concern when there's no growing jobs that's a concern, there isn't a clear signal to buy yet if you're intraday trading to the upside check.

8:33Yeah. I say alleged because we missed this part. Our content is intended to be used and must be used for informational purposes only. Yes. It's very important to do your own analysis before making any investment based on your own personal circumstance. You should take independent financial advice from a professional in connection with or independently research and verify any information that you find on our show and wish to rely upon whether for the purpose of making an investment decision or otherwise. people continue to do the research continue to build knowledge build our community build the brokerage account love is love let's back to our regularly scheduled program taco news is fake fake news taco um i will say this um we don't have the ticker this week because we had some technical difficulties this is live it's a live show it's a live show so um we had some last minute technical difficulties.

9:23So we were not able to get the ticker as you guys have become accustomed to, but you know, the show must go on. It will go on. The show must go on. Hey Ernest, what's up? One thing we always say on this show is you've got to be intentional with your money. Because it's not just about how much you make. It's about how you manage what you spend. Exactly. That's why tools like Klarna are interesting. It gives you flexibility when you're making purchases. When you're checking out, you can decide how you want to pay, whether that's paying right away or spreading payments over time, depending on what works for you.

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