Cliff Notes: STOCK TRADING FOR BEGINNERS
Earn Your Leisure
iHeartPodcasts
4.9 • 7.9K Ratings
🗓️ 20 June 2021
⏱️ 17 minutes
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Summary
In this clip Ian discussed the basics of stock trading.
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Transcript
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| 0:00.0 | Lesson one. Please write this down. Everything I'm going for 91 and night. The risk to reward ratio is everything. |
| 0:07.5 | I wish I could have had my brother on, but I took up about an hour and a half of this time on a stock club call. |
| 0:12.4 | And at one point, he was in an AMC trade. And he was down $11,000. But remember, I told you guys, risk to reward is always everything. |
| 0:21.3 | You either want to risk $1 to make $5, write that down. You either want to risk $1 to make $10, $1 to make $25, $1 to make $50 or $1 to $100. |
| 0:32.4 | A lot of times we'll get down on the trade. And then of course, I was listening to the episode that you guys had with track and trappers like, hey, man, sometimes in one of my trades, I may be up 60 grand. And some days I may be only up 1800. |
| 0:44.4 | The thing that will allow us to stay in a trade is that you have to know what the risk to reward parameters that you are using beforehand. So you know when to get in and when to get out. So that's number one lesson number two. |
| 0:59.0 | Everyone was asking what did he start with, but the thing that he wanted to stress to everyone, it doesn't matter what you start with. |
| 1:05.0 | You just have to start. I'm going to be honest, I know some of you have been watching the show since last year and you have not taken your first trade yet or your first investment. Why? |
| 1:14.0 | I'm giving you every good stock on the planet, every bad one and the three that I may have messed up on. I said, hey, man, I messed up my bad and made up for it. You have to get started. |
| 1:24.6 | Lesson number three. Stop hesitating and take the trade. And I'm going to say this humbly and respectfully, especially when I call it. |
| 1:32.0 | Some of you should know my body language and mannerisms enough. One something is going to take off. |
| 1:38.7 | Take the trade. Don't hesitate. Do your own research. Even if we have a parabolic move to the upside and we slide back down and there's another chance to get in usually on here. I will call out where and then for those of you asked questions tonight, please have four or five stocks that you want to ask about tonight. So I can be able to help you. |
| 1:56.7 | Lesson number four. Master the craft. This is most important. It took him 11 months of practice with frustration and he's married. So fellas, you know how this if you got a significant other, you married, you're working on something and it doesn't produce results. |
| 2:11.7 | The significant others like, yo, what are you doing? What is the time you could be working on something else? It took 11 months. Let me ask you this. But would you practice and learn how to trade for 10 months or 11 months to then turn around while on vacation to make $282,000 in a matter of days. Put yes and no in chat. |
| 2:31.7 | Master the craft. This is a business. Some kids work on going to the NBA for 19 years that allows 20 years that allows a lot of people go to school for 12 years. You're telling me you can't take 11 months, 12 months, 18 months, 60 months to master craft in which you can make money on demand. I'm telling you, it is absolutely worth it. |
| 2:55.7 | You have to learn how to trade to be a better investor. So for my long term investors, this is the gap that you have to close and this is the sweet spot that I saw. |
| 3:06.7 | I noticed most investors did not know how to trade well and most traders don't know how to invest. So I was like, let me take Warren Buffett, Peter Lynch's model and blended with part to the Jones road and one. |
| 3:18.7 | When you are a good trader, you're able to get better entries long term. Then you have to become a better investor to be a better trader to all my traders, get off of the five minute, get off of the one minute. It is a losing parameter. |
| 3:32.7 | Go to a higher timeframe. And here's the thing. I've always said it. The cheat code is if you wake up and you see that NAS that goes up a ton if you're invested in it, what a S&P 500 is up, you generally know what the market is going to do for that day. So if you're already long term invested and gives you a cheat code to know what to do. |
| 3:50.7 | Lesson number seven, 12 trades per year, everybody on here earners, bread, panda family, everybody on YouTube, 12 trades per year. Here's the thing. Once you start to bleed to 30 60 80 trades, if you're not using the algorithm, you have a higher probability of losing who in here thinks they can win 10 out of 12 trades or nine out of 12 trades. |
| 4:12.7 | Most here can, but you hear so much noise, which if talk is cheap, those that are debating are trying to keep you from getting real money. |
| 4:22.7 | All you need is 12 good trades for the year to make a significant impact on your life. |
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