WEBVTT NOTE This file was generated by Descript 00:00:00.000 --> 00:00:00.870 How you doing friends? 00:00:00.889 --> 00:00:04.009 This is Zero Days to Expiration. 00:00:04.099 --> 00:00:10.879 This is podcast number 1 0 1, and today's episode is, Today's episode is 00:00:11.449 --> 00:00:15.379 the SWAG that makes zero DTE traders. 00:00:16.659 --> 00:00:25.309 So when I say SWAG, that sounds like a sort of a hip hop word or something like. 00:00:26.074 --> 00:00:31.024 But it is actually an acronym and I believe, I'm not sure exactly the origins 00:00:31.029 --> 00:00:37.774 of this acronym, but it does refer, and the acronym acronym is S W A G 00:00:37.824 --> 00:00:40.914 . Scientific Wild Ass Guess. 00:00:41.694 --> 00:00:44.724 Now, that doesn't mean that it is BS. 00:00:44.724 --> 00:00:47.724 It's not a a BS guess it's an educated guess. 00:00:47.724 --> 00:00:52.299 It's something that's based on experiential things. 00:00:52.599 --> 00:00:57.849 It is something that is also based, maybe loosely on scientific principles, but 00:00:58.119 --> 00:01:02.679 sometimes we don't have the ability to apply all of those principles directly. 00:01:02.684 --> 00:01:04.779 We just understand the nature of it. 00:01:04.784 --> 00:01:09.279 And so we look towards that with that understanding and are able 00:01:09.279 --> 00:01:11.499 to make, uh, valued judgements. 00:01:12.159 --> 00:01:14.229 And most of trading is like that. 00:01:14.409 --> 00:01:20.289 Virtually all discretionary traders do a SWAG, right? 00:01:20.559 --> 00:01:22.929 So that is also what is here. 00:01:22.929 --> 00:01:28.569 But now this particular strategy though is born out of very serious 00:01:28.599 --> 00:01:30.939 mathematics and also philosophy. 00:01:31.479 --> 00:01:36.119 Much of it is borrowed from the greats such as Benoit Mandelbrot 00:01:36.349 --> 00:01:41.619 and Nassim Taleb, and I would highly recommend all of their works. 00:01:42.859 --> 00:01:46.849 So the things that we do are, are firmly embedded in that stuff. 00:01:46.879 --> 00:01:53.989 And it was created, I started the service because of a fundamental 00:01:54.559 --> 00:01:59.269 disconnect between traders and their notion of what risk is. 00:02:01.039 --> 00:02:07.519 And if you just look at what is the most popular type of strategy that you. 00:02:08.419 --> 00:02:12.619 Think of, Well, it's anything that someone says is high probability, right? 00:02:13.129 --> 00:02:16.069 Everyone is attracted to the idea that they're going to be winning a 00:02:16.069 --> 00:02:22.399 lot, and the reasons for it are very human, and those reasons are it, uh, 00:02:22.579 --> 00:02:24.469 it makes us feel good to win a lot. 00:02:25.099 --> 00:02:30.289 The problem with a high probability strategy is that you, you do not really 00:02:30.289 --> 00:02:37.309 take into account the caveat to having a high probability strategy and that caveat 00:02:37.349 --> 00:02:43.399 or the thing that is behind the scenes is the fact that high probability strategies 00:02:43.399 --> 00:02:46.279 usually have extremely high risk. 00:02:46.549 --> 00:02:49.429 There may be a lower incident of actually hitting that risk, 00:02:49.429 --> 00:02:50.419 but it's certainly there. 00:02:52.159 --> 00:02:53.419 But it goes further than that. 00:02:53.869 --> 00:02:58.219 When you start looking at the way pricing models are, the way options 00:02:58.219 --> 00:03:01.849 are priced, the way virtually everybody prices their risk into their trade. 00:03:03.754 --> 00:03:07.804 It is completely understated, and they don't believe that. 00:03:07.804 --> 00:03:12.034 They want to believe that the fact that they are going to put a 95% probability 00:03:12.039 --> 00:03:16.444 strategy on and win 95% of the time, and those times that they lose, 00:03:16.474 --> 00:03:17.944 Oh, they can, they can handle that. 00:03:17.949 --> 00:03:18.964 It's no problem. 00:03:18.964 --> 00:03:23.934 I'll just manage that risk away and or I'll cut it short and it'll never affect. 00:03:24.689 --> 00:03:29.879 Except when it does and it, and that in fact , not only does it get them 00:03:30.149 --> 00:03:35.189 more than 5% of the time, but often a trader will find that, yeah, they 00:03:35.189 --> 00:03:40.049 put on this 95% probability strategy and I got, uh, two, three losses 00:03:40.049 --> 00:03:41.819 in a row that wiped out my account. 00:03:42.969 --> 00:03:50.609 So what good is the probability statement if it doesn't actually work out? 00:03:50.609 --> 00:03:55.869 And they'll find that they're hitting that risk area way more than 5%. 00:03:57.519 --> 00:03:58.899 And, and that's just the truth. 00:03:58.949 --> 00:04:00.119 I felt it myself. 00:04:00.169 --> 00:04:04.549 Earlier this year, or let's just go back to last year. 00:04:05.179 --> 00:04:08.239 Last year we were running this service during the, you know, the 00:04:08.239 --> 00:04:11.089 market conditions were fantastic for just about any trader. 00:04:11.179 --> 00:04:12.949 The market was going straight up. 00:04:13.849 --> 00:04:17.329 And not only that, there was lower volatility and. 00:04:18.154 --> 00:04:21.364 Really, it was just sort of a by the dip type of scenario. 00:04:21.454 --> 00:04:24.664 And so our, our wind rates were high, et cetera. 00:04:24.664 --> 00:04:27.694 And because of this particular strategy that we are doing, 00:04:28.084 --> 00:04:29.464 we have very small risk. 00:04:29.464 --> 00:04:33.214 We are able to really kill it on there. 00:04:33.214 --> 00:04:38.134 So we're not really suffering a lot from the, uh, that caveat that I just spoke of. 00:04:38.734 --> 00:04:42.724 Uh, however we picked our places and then we got a little bit brazen and thought, 00:04:42.754 --> 00:04:47.174 Hey man, we can lower our cost of our trades even more by putting on these 00:04:47.629 --> 00:04:53.059 relatively high probability butterflies or broken wing flies that have some risk 00:04:53.059 --> 00:04:56.499 that is pushed way, way out, way out. 00:04:57.259 --> 00:05:01.849 As a matter of fact, we tried this after, uh, a fantastic year and tripling my 00:05:01.849 --> 00:05:07.099 account over nine months decide, Hey, let's put on some of these super low risk. 00:05:07.649 --> 00:05:11.519 What we thought was, cuz the front end, the near end, or the near side 00:05:11.519 --> 00:05:14.859 was very, very, uh, small, if anything. 00:05:15.674 --> 00:05:18.884 And all of the risk was put onto the back end, but it was pretty big. 00:05:18.884 --> 00:05:23.714 It was substantial, but it was three and a half standard deviations away. 00:05:24.464 --> 00:05:24.734 Right? 00:05:25.814 --> 00:05:31.634 And wouldn't you know it that within the A period, Now, first of all, what is three 00:05:31.634 --> 00:05:33.464 ha, three and a half standard deviations? 00:05:33.464 --> 00:05:36.424 Well let, let's just say that it's well over 99%. 00:05:37.139 --> 00:05:43.079 So, in other words, the chance of blowing up according to the probabilities 00:05:43.079 --> 00:05:47.189 that are in the trading platform, the Black-Scholes model and the binomial 00:05:47.194 --> 00:05:51.689 and everything else that they put in there that's supposed to be so great. 00:05:52.709 --> 00:06:00.179 Says that there is, uh, I, I don't know, just a unbelievably low 00:06:00.179 --> 00:06:02.289 percentage chance that we could fail. 00:06:03.049 --> 00:06:06.469 If it did fail, we should clearly be able to get out of the trade, right? 00:06:07.489 --> 00:06:10.309 Of course, we are not taking into consideration other things 00:06:10.309 --> 00:06:11.269 that lead you into there. 00:06:11.269 --> 00:06:15.259 This kind of, well, this gamma risk, well, that brings you in there and then 00:06:15.259 --> 00:06:16.459 once you're in there, you can't escape. 00:06:17.809 --> 00:06:24.589 But we got hit with a three and a half standard deviation loss, two trades while 00:06:24.589 --> 00:06:26.629 two out of three trades in one week. 00:06:27.079 --> 00:06:30.349 So what are the odds of doing two point. 00:06:30.919 --> 00:06:36.409 2% probability losses out of, uh, out of three trades. 00:06:36.409 --> 00:06:39.199 It's just, it's like mind blowing, astronomical. 00:06:39.204 --> 00:06:43.849 It's a, it's a, you know, a thousand, 10000% something, one out of 10,000. 00:06:44.989 --> 00:06:50.989 But it happened, and what I noticed was after that happened, decided 00:06:50.989 --> 00:06:52.339 that we're never gonna do that again. 00:06:52.549 --> 00:06:55.309 I mean, we worked all of this time to build up an account, and then 00:06:55.309 --> 00:06:58.249 just in the course of a couple of trades, it knocks half of it. 00:06:59.554 --> 00:07:03.754 So that that, uh, strategy has been completely nixed, and I took a better 00:07:03.754 --> 00:07:08.404 look and started really taking into account all the things that I have, 00:07:08.524 --> 00:07:13.474 a adored over the years in terms of the works of Taleb and Mandelbrot and 00:07:13.474 --> 00:07:15.844 others on the true nature of risk. 00:07:15.844 --> 00:07:19.114 That it is way bigger than what most people think. 00:07:19.514 --> 00:07:21.859 How often do you hear an analyst or someone else. 00:07:22.939 --> 00:07:27.139 when something bad happens, they'll say something like, Man, that never happens. 00:07:27.139 --> 00:07:28.939 And then next week you hear it again. 00:07:28.969 --> 00:07:30.589 Wow, man, that never happens. 00:07:31.069 --> 00:07:34.219 Well, apparently it does happen and it happens a lot. 00:07:36.049 --> 00:07:41.389 Once you realize that, once you understand that, uh, the risk is vastly 00:07:41.389 --> 00:07:46.564 understated , then it requires you to take a different look at things and start 00:07:46.564 --> 00:07:52.174 understanding what it is that you really need to be successful in this business. 00:07:52.444 --> 00:07:55.894 What it is that you have to do in order to beat the risk. 00:07:55.984 --> 00:08:01.024 Can you actually rely on the probabilities that are stated in your platform? 00:08:01.654 --> 00:08:03.994 Can you rely on expected move? 00:08:03.994 --> 00:08:06.364 Can you rely on implied volatility? 00:08:06.364 --> 00:08:08.704 Of course, your, your options and everything are priced 00:08:08.709 --> 00:08:10.434 based on that supposedly. 00:08:11.294 --> 00:08:12.134 Can you rely on it? 00:08:12.134 --> 00:08:13.094 And the answer is no. 00:08:13.244 --> 00:08:19.364 I mean, even, even implied volatility, generally volatility itself is overstated 00:08:19.454 --> 00:08:22.154 by a, by a huge margin 85% of the time. 00:08:22.154 --> 00:08:25.574 So that leaves another 15% of the time where it's not. 00:08:27.074 --> 00:08:32.654 And then there are these, um, liquidity wells and gamma risk, that will hit 00:08:32.654 --> 00:08:35.024 you on a regular basis that cause. 00:08:35.999 --> 00:08:43.499 Interim problems that will, even though if you had held on and weathered 00:08:43.504 --> 00:08:45.479 it, you may have come out okay? 00:08:45.479 --> 00:08:46.529 At the other end. 00:08:47.639 --> 00:08:51.959 In the interim, you feel this pain in this panic and this, uh, 00:08:53.099 --> 00:08:57.839 huge drawdown say intra trade that will shake you off of that trade. 00:08:58.759 --> 00:08:59.979 And so , you get out of it. 00:09:00.189 --> 00:09:02.559 And how, how, how often has that happened to you? 00:09:02.619 --> 00:09:07.429 Where you're in this high probability trade and it, uh, goes the wrong 00:09:07.429 --> 00:09:13.349 way and it gets close to your risk strike and you're down, lots, 00:09:13.589 --> 00:09:15.029 hundreds and hundreds of dollars. 00:09:16.784 --> 00:09:20.354 And you decide, you know, I can't take, I can't take the chance that we're 00:09:20.354 --> 00:09:24.854 going to go to the max risk, which could be say, a thousand or $2,000, right? 00:09:25.304 --> 00:09:29.864 So you get out and then as soon as you get out, it reverses right back and comes back 00:09:29.964 --> 00:09:32.064 where you thought it should be, right? 00:09:32.424 --> 00:09:35.184 So the next time you figure out, I'm gonna beat it this time, I'm just gonna 00:09:35.184 --> 00:09:38.724 hold on , because it always comes back. 00:09:39.684 --> 00:09:41.634 And of course that's the time that it doesn't come back. 00:09:42.384 --> 00:09:43.344 So you can't win. 00:09:44.814 --> 00:09:51.204 So that got me thinking that playing those odds are, are not reliable. 00:09:51.564 --> 00:09:57.504 There's only one reliable way that you can actually play the odds or, or, 00:09:57.504 --> 00:09:59.994 um, take valid chances in the market. 00:09:59.999 --> 00:10:05.004 And that is to define your risk, to know exactly what it is and to, 00:10:05.964 --> 00:10:09.234 be outside of those probabilities, forget the probabilities. 00:10:09.264 --> 00:10:12.474 I just want to know what I can put at risk and whether or not it's 00:10:12.474 --> 00:10:16.914 a good bet and whether or not I have, uh, good expectations for a 00:10:16.919 --> 00:10:18.804 return or a possibility of a return. 00:10:19.464 --> 00:10:24.804 And will the risk be such that I don't really have to worry if I, 00:10:24.864 --> 00:10:27.564 I do fall into, uh, a bad trade. 00:10:28.614 --> 00:10:30.024 I, I don't want that worry. 00:10:31.824 --> 00:10:38.109 And after re-listening to the Black Swan and Skin in the game, and, uh, 00:10:38.769 --> 00:10:41.149 misbehaving Markets by, uh, Mandelbrot. 00:10:41.939 --> 00:10:44.729 I started to realize that, you know, that was my intuition. 00:10:44.729 --> 00:10:52.829 That was my, my SWAG, talking that no longer would we be 00:10:53.339 --> 00:10:55.709 tied to these false models. 00:10:56.279 --> 00:10:59.489 Now, I'm not saying that they, uh, don't work at all. 00:10:59.579 --> 00:11:04.754 I mean, for a large part of time they are valid and they will give you valid 00:11:05.204 --> 00:11:07.004 results except for when they don't. 00:11:07.004 --> 00:11:13.734 And those are the times that capital is lost for those unexpected times. 00:11:13.734 --> 00:11:16.794 For those things that never happen until they do. 00:11:18.174 --> 00:11:22.354 So you need to have that level of swag and understanding that that is 00:11:22.354 --> 00:11:24.334 the case, that you cannot rely on it. 00:11:24.334 --> 00:11:29.044 And really the only way to approach a market validly is to take the 00:11:29.044 --> 00:11:30.634 risk that you're willing to take. 00:11:31.894 --> 00:11:34.264 And it should be small, it should be asymmetric. 00:11:34.654 --> 00:11:35.074 Why? 00:11:35.284 --> 00:11:40.924 Why put yourself in a position where it's gonna cause a lot of 00:11:41.014 --> 00:11:43.434 angst, stress, anxiety, panic. 00:11:43.989 --> 00:11:44.949 There's no reason to. 00:11:45.129 --> 00:11:47.439 So that's exactly what we do here. 00:11:47.499 --> 00:11:53.919 Now, we take extremely small positions and we set up our trade so that 00:11:53.919 --> 00:11:58.749 we are, um, open to or with the potential of a fairly good potential 00:11:59.769 --> 00:12:06.339 of getting a large portion of profit back or multiples of what we risk. 00:12:08.529 --> 00:12:09.489 And that works. 00:12:10.059 --> 00:12:15.129 In fact, when you start doing the math and you start looking at the, uh, 00:12:15.159 --> 00:12:20.769 long term expectancy, not only does it work, but it is vastly superior 00:12:20.769 --> 00:12:22.389 to the high probability method. 00:12:25.599 --> 00:12:29.589 It produces smaller draw downs, less liquid, less, 00:12:29.899 --> 00:12:31.849 volatility in your equity curve. 00:12:31.849 --> 00:12:36.109 So in other words, you have a, a smoother equity curve and a 00:12:36.169 --> 00:12:38.339 larger expectancy in the long run. 00:12:39.809 --> 00:12:42.199 The other thing is that you're protected from a number of things. 00:12:42.199 --> 00:12:48.539 One is this risk of ruin, that risk of ruin goes away under certain conditions. 00:12:48.539 --> 00:12:51.629 I mean, you have to have a large enough account in order to be able to handle 00:12:51.659 --> 00:12:57.319 any possible draw down, but it's much smaller that, possible draw down or 00:12:57.349 --> 00:13:01.219 much less likely to be a large draw down than other high probability method. 00:13:03.499 --> 00:13:07.339 So there's another benefit to that, and that is that you can then afford 00:13:07.339 --> 00:13:09.709 to have that kind of swagger or swag. 00:13:09.709 --> 00:13:13.394 When you have that SWAG and that understanding and the confidence in, 00:13:13.394 --> 00:13:17.894 in that type of situation where you're taking small risks, so that can't hurt. 00:13:18.824 --> 00:13:22.484 No matter what you put on, you can now develop a level of 00:13:22.484 --> 00:13:23.924 detachment from your trades. 00:13:24.314 --> 00:13:27.944 A clear head no panic means that you have a clear mind and 00:13:27.944 --> 00:13:29.294 you can make better decisions. 00:13:29.474 --> 00:13:35.204 And that's, that's a key that is, that in of itself is a kind of edge that we have. 00:13:35.984 --> 00:13:40.694 When you have that kind of edge, you can make decisions without being under 00:13:40.754 --> 00:13:46.034 duress or panicked or fear that you're going to, that you're going to fail. 00:13:49.514 --> 00:13:52.664 But you don't get that when you're in a high probability trade. 00:13:52.664 --> 00:13:57.824 And it only takes a few times before you get bit by that high probability 00:13:57.829 --> 00:14:03.474 risk to really make you feel, and that I know that you're out there and you 00:14:03.474 --> 00:14:05.424 know exactly what I'm talking about. 00:14:05.624 --> 00:14:10.074 Those strategies that you thought we're gonna. 00:14:11.259 --> 00:14:13.869 Just make you millions and, and produce income. 00:14:13.869 --> 00:14:16.779 That's the other big word people with these high probability 00:14:16.784 --> 00:14:20.259 strategies will say, Yeah, produce monthly income as if it's regular. 00:14:20.259 --> 00:14:25.899 And you can, you can actually pay your bills on this and buy a Lambo even until 00:14:25.899 --> 00:14:31.509 you hit those one or two, uh, unlikely risk events that wipe you out or wipe out 00:14:31.929 --> 00:14:33.849 several weeks or months worth of work. 00:14:35.319 --> 00:14:36.399 And that's what happens. 00:14:36.729 --> 00:14:37.719 All of you have felt it. 00:14:37.899 --> 00:14:39.969 If you've been in trading long enough, you are going to feel it. 00:14:39.969 --> 00:14:42.639 If you haven't been in long enough and you're in a high probability 00:14:43.209 --> 00:14:45.099 strategy, you will feel it. 00:14:45.279 --> 00:14:46.989 You will feel it, and you'll, it'll hurt. 00:14:47.199 --> 00:14:48.039 It'll hurt a lot. 00:14:48.579 --> 00:14:50.889 Now here's, here's the reason why. 00:14:50.894 --> 00:14:53.799 People keep on going back to the high probability strategies 00:14:53.799 --> 00:14:55.179 because they don't know any better. 00:14:55.269 --> 00:14:59.839 They haven't read the works from Mandelbrot or Taleb, and understand 00:15:00.319 --> 00:15:05.514 that the pricing in these systems are not what they say they are. 00:15:09.144 --> 00:15:14.874 And they believe the gurus and pundits that tell them that they can go and do 00:15:14.874 --> 00:15:19.454 this and make, make their fortune and never have to have any consequence. 00:15:19.459 --> 00:15:20.504 Just keep on winning. 00:15:20.744 --> 00:15:26.204 And of course, from being a human, uh, we love winning and especially 00:15:26.204 --> 00:15:29.714 when we have a lot of small wins because that, that's like having this 00:15:30.389 --> 00:15:32.919 dopamine drip, like it's intravenous. 00:15:32.969 --> 00:15:38.669 And so when you do have these short, sharp shocks of risk 00:15:38.669 --> 00:15:40.739 event, that's what they are. 00:15:40.739 --> 00:15:43.199 They're short and they're sharp and they hurt. 00:15:43.829 --> 00:15:50.849 But then you get the drip again, and then you can excuse it away or say that there 00:15:50.849 --> 00:15:57.899 must have been something wrong with my, my psychology or my implementation or 00:15:57.899 --> 00:16:04.919 my process or something, something that I did not recognize, but it's not, it 00:16:04.924 --> 00:16:07.249 really isn't . That thing is always there. 00:16:07.909 --> 00:16:09.049 It's there lurking. 00:16:09.139 --> 00:16:12.439 It's, it's a demonn waiting to bite you when you least expect it. 00:16:12.469 --> 00:16:17.269 It is the black swan, but you don't know it. 00:16:17.269 --> 00:16:18.139 And you don't care. 00:16:18.199 --> 00:16:23.554 You can get over it and quite frankly, brokersare relying on you coming 00:16:23.554 --> 00:16:28.294 back and producing a lot of those small little transactions that, 00:16:28.354 --> 00:16:30.274 uh, produce commissions for them. 00:16:31.354 --> 00:16:33.704 So that's what the SWAG is all about. 00:16:33.744 --> 00:16:41.574 It's a level of knowing that you're in a strategy that is immune to these problems, 00:16:41.574 --> 00:16:43.614 these high probability strateg strategies. 00:16:43.614 --> 00:16:44.964 We're not high probability. 00:16:45.114 --> 00:16:49.494 I mean, we, we can make money whether we're trading at a 40% win rate or 00:16:49.494 --> 00:16:51.264 a 50 or a 60, it doesn't matter. 00:16:53.794 --> 00:16:55.859 We could put basically a coin flip. 00:16:55.859 --> 00:16:59.844 And as long as our risk is small and our reward, potential reward is 00:16:59.844 --> 00:17:06.399 very high, uh, there's going to be a percentage of times where we're going 00:17:06.399 --> 00:17:09.159 to make a lot more than what we lose. 00:17:10.629 --> 00:17:16.269 And the times that we make, um, small wins are going to essentially 00:17:16.689 --> 00:17:18.609 cancel out the small losses. 00:17:20.199 --> 00:17:24.579 And so when you have that knowledge and you start experiencing that, and it, 00:17:24.669 --> 00:17:28.599 I'm not saying that it comes easy, You have to, you still have to work at, uh, 00:17:28.629 --> 00:17:35.199 developing your process and have some level of expertise and skill in your 00:17:35.199 --> 00:17:37.239 execution, which is extremely important. 00:17:38.439 --> 00:17:41.709 Because if you're just haphazard and you jump around and try different 00:17:41.714 --> 00:17:45.939 things and you're not able to measure your progress, then no matter what 00:17:45.939 --> 00:17:47.619 the strategy is, you're going to fail. 00:17:47.679 --> 00:17:56.079 So you need to still develop that level of, of expertise so that you can remain 00:17:56.079 --> 00:17:59.059 in the game and keep the skin in the game. 00:17:59.859 --> 00:18:02.439 So I'm just dropping names here and dropping names of books and 00:18:02.439 --> 00:18:05.169 things that you should be listening to at Black Swan Skin in the Game. 00:18:05.174 --> 00:18:10.389 Fooled by Randomness, Antifragile Misbehaving Markets, on and on. 00:18:13.299 --> 00:18:18.519 So we developed that swagger, that kind of knowing that we can 00:18:18.519 --> 00:18:19.989 now be detached from our trades. 00:18:21.009 --> 00:18:21.609 Put them on. 00:18:21.609 --> 00:18:26.679 And we know that if we follow the process that we're going to produce a positive 00:18:26.679 --> 00:18:29.009 skew in the distribution of our returns. 00:18:29.039 --> 00:18:29.849 What does that mean? 00:18:30.749 --> 00:18:35.459 That means that we're going to open ourselves up to, not big losses, but 00:18:35.459 --> 00:18:39.149 small losses and large potential wins. 00:18:39.179 --> 00:18:41.669 The what everybody calls the fat tail. 00:18:42.539 --> 00:18:43.549 That's what we're after. 00:18:44.864 --> 00:18:50.964 So to give you some stats on my personal account and, you know, I can't tell 00:18:50.964 --> 00:18:55.014 you what everybody makes or what this strategy would be capable of. 00:18:55.014 --> 00:18:56.814 I think it's capable of, of a lot. 00:18:56.844 --> 00:19:01.464 It really is in the hands of the person and every person has a different level 00:19:01.464 --> 00:19:06.959 of, of, uh, tolerance and capacity for risk and how big they make their 00:19:07.839 --> 00:19:10.599 positions according to their account size. 00:19:10.989 --> 00:19:14.469 But I recommend that everybody does it small, and I'll be talking about 00:19:14.469 --> 00:19:20.019 that probably sometime this week, where smaller is better, right? 00:19:20.019 --> 00:19:24.759 The smaller and the greater that you make that risk to reward asymmetric 00:19:24.759 --> 00:19:30.829 equation, the better that you're gonna be, uh, the more successful. 00:19:30.859 --> 00:19:33.319 Now you may not, um, see that success. 00:19:34.219 --> 00:19:39.169 That dopamine drip you get with the high probability trade, but it doesn't matter 00:19:39.169 --> 00:19:41.449 what each individual trade is giving you. 00:19:41.659 --> 00:19:46.099 All that really matters is what happens at the in the end game. 00:19:47.179 --> 00:19:52.219 Is it a high probability of being successful trade month in, 00:19:52.224 --> 00:19:53.919 month out, or year in, year out? 00:19:55.049 --> 00:19:58.459 That's the real measure, not what happens on each individual trade. 00:19:59.719 --> 00:20:01.009 You have to look at the long game. 00:20:02.134 --> 00:20:02.914 And that's where we're at. 00:20:02.914 --> 00:20:07.864 That's, that is the 0-DTE way, which is quite a bit different. 00:20:08.404 --> 00:20:11.884 If you just look at us as just another 0DTE company, you would be missing the 00:20:11.884 --> 00:20:18.514 boat because what we do is almost the exact opposite of what all the other zero 00:20:18.514 --> 00:20:21.214 days to expiration services do out there. 00:20:21.874 --> 00:20:24.424 First of all, most of them are just alert services. 00:20:24.484 --> 00:20:25.774 This is not focused on that. 00:20:25.774 --> 00:20:26.494 This is focused. 00:20:27.394 --> 00:20:32.284 Coaching and mentoring our members to get them to pro level. 00:20:32.854 --> 00:20:34.324 That is exactly what we do. 00:20:34.894 --> 00:20:36.364 We're not just an alert service. 00:20:37.264 --> 00:20:38.674 People follow what I do. 00:20:39.064 --> 00:20:40.084 I don't put out alerts. 00:20:40.084 --> 00:20:42.724 I just say, Hey, this is what I'm thinking of doing. 00:20:42.754 --> 00:20:47.674 But we're there to teach people how to adopt this philosophy, this 00:20:47.674 --> 00:20:56.354 SWAG, this strategy process and methods and trade the SWAG way. 00:20:56.784 --> 00:20:58.894 The 0-DTE way. 00:20:59.824 --> 00:21:00.514 So there you go. 00:21:01.024 --> 00:21:03.634 . So anyways, I wanna thank everybody for showing up. 00:21:04.024 --> 00:21:06.064 It looks like we're gonna have a good day today. 00:21:06.394 --> 00:21:10.204 We're still in this market, need to go and manage this trade now. 00:21:11.584 --> 00:21:12.424 Peace to you all. 00:21:12.634 --> 00:21:13.684 Thank you very much. 00:21:15.424 --> 00:21:18.334 Oh, Tim wants to know, are we all done with the last hour trade? 00:21:18.934 --> 00:21:19.924 I would say yes. 00:21:20.024 --> 00:21:25.844 I haven't felt the, um, The mojo with that last hour trade. 00:21:25.904 --> 00:21:30.044 We did fantastic early on, but I think that this market right now just is not 00:21:30.044 --> 00:21:33.194 conducive, uh, to that final hour trade. 00:21:33.374 --> 00:21:35.894 And that was an experimental trade by the way that we did. 00:21:36.414 --> 00:21:41.754 I've made the executive decision to go back to the podcast and talk about these 00:21:41.754 --> 00:21:46.524 individual topics on trading, on being a professional and how you can make 00:21:46.524 --> 00:21:50.079 the most out your own personal swag. 00:21:51.609 --> 00:21:52.119 All right. 00:21:53.109 --> 00:21:53.979 Thank you very much. 00:21:54.219 --> 00:21:54.999 Peace to you all. 00:21:55.509 --> 00:21:57.129 Oh, there we go. 00:21:57.459 --> 00:21:57.939 Take care.