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Duane
3:10
To close the long "we sell to close" it, right? To move out the long we sell the 1st position and then "buy to open" the next  long protection position?
Mentor Mike
3:06
Absolutely!  The hotel has much more reliable internet and the real difference is we have Chad/DoveAV helping with the feed and he's incredible!
Guest
3:05
This live feed is so much better than in past.  Thank you for the upgraded feed.
Mentor Mike
3:05
Thanks Chuck!  See you tomorrow!
Chuck P
3:05
Thanks for a good day! Back tomorrow. Best wishes.
Mentor Mike
3:01
The Money Press is one of our main strategies... so we do have quite a bit of training on it.  Like I mentioned, the WOW Insider site has quite a bit of training on that strategy.  Also, as Insiders you get to join Preston every Friday for a live webinar where he talks about his Money Press trades, management of the trades, etc.
Al
3:00
PJ could do a whole class on this.
Mentor Mike
2:55
If you aren't sure about your access you can call at 801-733-4190 or email TheCrew@tradersedgenetwork.com and they will gladly check on that for you
Tim
2:54
I am a WOW from way back - also did one of your coaches - did I still have WOW access?
Mentor Mike
2:53
If you are a WOW Insider member there are several training videos about the Money Press.  We can also make sure you have the Money Press Method Guidebook and two accompanying DVD's that is usually the first thing you start with.  (InsiderMembership.com has more info about the WOW Membership if you aren't currently a member)
Al
2:51
If just starting with MP, what do I study to understand more what he's professing?
Mentor Mike
2:51
Yes exactly!  This is the Money Press strategy with the short put being the one we are selling each week, the long is the put protection we are buying
Patterson
2:51
When B is talking about the long position, he is talking about the buy side and when he says the short side, his referring to the sell side, correct?
Mentor Mike
2:50
Hey Tim... obviously we can't help if someone is coughing.  The mic is helping pick up questions and the speaker so we can't really turn it off unfortunately.  I'll just throw out some prayers for a short cold and quick recovery from whoever that is.  :-)
Tim
2:49
Coughers are drowning out the questions -- do you have any tea with honey - something!
Mentor Mike
2:25
You can't close out the protection without leaving the sold put in a naked/uncovered position which is a margin hog.
Duane
2:24
As Maggie talks about the Money Press: On a money press. on your long protection that you have bought to open, is Maggie talking about the IV re: buying back the long. Do we have that option or is it just "sell to close" the protective leg?
Mentor Mike
2:23
We emailed out the study guides so double-check your email... we will get the PDF posted on the replay site as well for you if the email got lost in your Spam Folder or something
Ralph
2:21
Do I get a study guide?
Guest
2:15
Most charting packages have an IV Study that will show you right on the chart as well
Mentor Mike
2:03
** Taking a short break, starting up again in about 15 mins **
2:00
She looks at the chart and sees where it is relative to the last 6-12 months... you can see if the volatility is at the higher end or more around the baseline
Calvin J
2:00
Maggie, what's your way of determining if the I. V. is low?
Mentor Mike
1:58
ARMIN - you can try closing out of the browser and trying to log back in... that hopefully will get you connected again.
1:54
Sorry Rick, I must have missed that portion.  I had to step out for a minute.  Anyone else know the answer on that?
Rick Berry
1:53
In this example, is she referring to closing a short expiring in same week as earnings, or expiring the week prior to earnings?
Mentor Mike
1:52
Thanks Rick.  That usually solves it.  Streaming HD video like this for a long period of time can be taxing on your internet bandwidth and your computer sometimes.
Rick Berry
1:51
Armin, that happened to me and I lost both audio and video, so I logged out and logged back in.
Mentor Mike
1:51
Thanks Bill!
Bill Doyle
1:51
Over on the right, you can pick IV actual or as a SMA.
Mentor Mike
1:51
Armin - everything seems to be working fine from this end.  Wondering if your internet connection is having some hiccups.
Armin
1:50
Lost the picture. Any problem.
Rick Berry
1:43
Appears Fidelity Active Trader Pro has IV indicator.
Mentor Mike
1:34
Thanks Bill!  I do think that IV Avg is probably what would be similar to what Maggie is using.  I'll see if I can get her input on that
Bill Doyle
1:32
Schwab IV chart setting for StreetSmartEdge?
Mentor Mike
1:28
We always keep May in mind... but just because the calendar changes we don't make a bunch of adjustments.  We simply watch everything a little closer with that in mind.
Guest
1:27
Are we headed into "sell in May and go away territory"?
Mentor Mike
1:25
Definitely Andra.  If some companies start reporting great earnings it can help influence the broad markets... especially if they are larger companies.
Andra Angle
1:24
Several companies have reported positive earnings within the last few minutes.  While the SPY and QQQ is selling, can the positive earnings results negate that selling?
Mentor Mike
1:15
We generally agree with that Rick... if you have to really chase the order it usually isn't a great thing
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