The 300 Trade Rule Why You MUST Practice Before Going Live!

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1:59Rashad Bilal:What's the trading tip of the week? I keep getting pushback on these contract sizes. When I did episode 70 with them, I want to be clear because I see what kind of mood Rashad is. So I'm going to be in the same mood. I feel you, my brother. when I did the episode in 2020 that was my six year trading futures not everyone wants to trade one to three contracts forever at some point you're gonna have to size up in order to have freedom if you're new here my rule of thumb has always been 300 practice trades and then go live but you can't put a baski out on your wall trading one to four contracts put in chat I deserve to size up to become free.

2:49Practice like crazy, but once you get two years in,

2:55Rashad Bilal:you need to be in that 10 to 15 contract range in order to make the moves that you're making in the market worth it. Trading has considerable risk. Please consult your advisor. You have to love this game inside and out and be dedicated to it. But you know what really sucks? Catching a seven or 800 point move on a nasdaq and dow and you're one contract in you may have caught one of the best moves of your life and then when you transfer the money it doesn't feel like you had any significant value so you gotta size up i want to now it's very important i was going to pause you but i'm not going to pause you because this is too important to play go ahead

3:37Rashad Bilal:you saw you got to size up yeah that's crazy but not true and when i was watching your presentation i i'm always looking for like just new information so even when you talked about uh contracts being the same price in futures right which is very different in options which you know almost made me unravel the level of discipline that i usually have because i'm i started looking for contracts that would be more feasible to a grander audience meaning like these are more affordable and if they're more affordable more people can get multiple contracts whereas in the past it was always hey let me go find a leap out there that is a year maybe 18 to two years out a little bit more expensive but we buy time which means we buy volatility um and so there's like this space that I'm wrestling with because it's like, yes, you want more people to have exactly what you're talking about.

4:35Rashad Bilal:I would say when you have an investment or you make a trade that works, two things happen. One's going to be like, man, I'm so happy that that worked and I'm happy that I'm in the green. And the other thing is, damn, I wish I would have put more money in. Absolutely. Those are the two things that - Every time. When you're in the green, it's like, damn, if I got one contract, man, if I would have had two, or I have five contracts. Imagine if I had 10 or I had 10, but it pulled back a little bit and I sold half of it off. And those things always happen. And I think it goes back to that piece we talked about maybe last week where it's like, don't skip that.

5:12Rashad Bilal:Like you should go through that. Like you should, you should prepare yourself for that moment. You should prepare yourself to be in those positions because it will teach you about grit. It'll teach you about financial intelligence mixed with emotional intelligence. You have to go through it. but the discipline piece of saying, you know what? This is my moment. I feel comfortable now. Like you said, 300 trades. For me, it was 2020, July. I said, I'm comfortable. I'm going for it. At some point, again, trading has considerable risk. At some point, you've got to get to the point where it's like, I put up enough practice shots.

5:48Rashad Bilal:It's time for me to, I got to go in the game now and start and really say, this is my plan, and I'm going to execute at a high level. and then be disciplined about that. And some of you asked when is the time? We'll tell you, like, I remember when April happened. I did Good Day New York. Of course, we did the show. We're telling you, like, no, this keen buying opportunity. Like, even for me, that April made the rest of my year. Like, I could have been done just trading in April. Like, that allowed me such a large swing percentage-wise that I can be really careful after every trade after that and only take perfect setup.

6:26Rashad Bilal:So we're getting close to an inflection point like that. And kudos to all of anyone if you're new. But this being my 10th year in this future space when it wasn't that many of us of RU in it, I'm telling you, at some point, you have to have moments in which you graduate. You've seen it even in this partnership and with their show, right? You go from show to get your tickets to InvestFest. At some point, you have to scale and get outside of your comfort zone. Here's a question in just full transparency here because I've noticed this happen time to time. You have these great gains, 1 ,000%, 2 ,000 % in a company.

7:06Rashad Bilal:You have your stacks. And I think maybe in 24, I noticed this, right? Just having some great gains and saying, hey, we've won big here. We can be a little bit more risky over here. And then in 2025, realizing like, wait, no, no, no. You got to stay as disciplined as you were when you were at the big game. Even more disciplined, even more precise. I think that's where the stay low, keep firing thing comes from. It's like, yes, stay low, be in the research, but still strike with the same amount of position. Don't get loose because you've got balls. Don't get, you know. Some of y 'all was at All-Star Weekend, I heard.

7:46Rashad Bilal:We're talking about it on blackout or not. Don't unravel. Don't lose your plan. don't get undisciplined because of those gains and that happens a lot too right like people will say oh man i hit this 500 that let me go i'm trying to do this again you've got to change the risk profile can't do risk risk can't change and that that that is something that's very important and on the downside as well i've seen people hey you know what i did this call it didn't work i'm never doing this again and then they watch that same call for somebody else where it's up it's about the discipline but it's also about the experience too i think we can't overlook those two things together and you probably an even best better lesson on in futures your risk profile should not change and then if you once you scale up you should stay in that pocket of contracts whatever you're trading 400 trades that way you can have clear risk profile and you're not going up let's say 1400 but then drawn down 300 your stop losses should be the same your target should be the same even in red panda they'll ask me like what's your short target i'm like it's the same thing from episode 70 you can't keep changing and that's why like when rashad is hella conservative i like that because he'll be in the game 15 years from now the people who blow up all their funds like take sam bankman free right he did a couple things that were illegal and missed out on a whirlwind of an investment in anthropic because your risk profile changed because you start crunching the numbers to meet a shorter term metric.

9:19Rashad Bilal:If you stay conservative, only risk one to two percent of trade, 10 percent of trade. You won't have those issues and you'll eventually be able to hit a home run. So keep your risk profile the same throughout your trading career and it'll go a hell of a lot easier.

9:32Johnathan Jones:What if mind control is real? If you could control the behavior of anybody around you, what kind of life would you have? Can you hypnotically persuade someone to buy a car? When you look at your car, you're going to become overwhelmed with such good feelings. Can you hypnotize someone into sleeping with you? I gave her some suggestions to be sexually aroused. Can you get someone to join your cult? NLP was used on me to access my subconscious. Mind Games, a new podcast exploring NLP, a.k.a. neurolinguistic programming. Is it a self-help miracle, a shady hypnosis scam, or both? Listen to Mind Games on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.

10:12Johnathan Jones:You can scroll the headlines all day and still feel empty. I'm Ben Higgins, and If You Can Hear Me is where culture meets the soul. Honest conversations about identity, loss, purpose, peace, faith, and everything in between. Celebrities, thinkers, everyday people, some have answers. Most are still figuring it out. And if you've ever felt like there has to be more to the story, this show is for you. Listen to If You Can Hear Me on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. I'm Amanda Knox, and in the new podcast Doubt, The Case of Lucy Letby, we unpack the story of an unimaginable tragedy that gripped the UK in 2023.

10:53Johnathan Jones:But what if we didn't get the whole story?

10:55Rashad Bilal:I've just been made to fit.

10:57Johnathan Jones:The moment you look at the whole picture, the case collapsed. What if the truth was disguised by a story we chose to believe? Oh my God, I think she might be innocent. Listen to Doubt, The Case of Lucy Letby on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. This is Special Agent Regal, Special Agent Bradley Hall. In 2018, the FBI took down a ring of spies working for China's Ministry of State Security, one of the most mysterious intelligence agencies in the world. The Sixth Bureau podcast is a story of the inner workings of the MSS and how one man's ambition and mistakes opened its vault of secrets.

11:35Johnathan Jones:Listen to The Sixth Bureau on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. This is an iHeart Podcast. Guaranteed human.