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Washington, DC 2021
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Guest
10:15
Thank you all, really enjoyed the seminar
*** Saturday, October 9 ***
Beau C
4:12
Great Stuff Crew
Guest
4:04
Thanks Traders Edge.  You guys are awesome!
Clyde
4:04
Thanks for a great two days!
Matt Thomas
4:04
Run one in TEXAS!! :)  (please? lol)
Mentor Mike
Thanks and have a great weekend everyone!
4:01
We sure appreciate all of you taking the time to tune in!  I’m about to head to the airport so I’m signing off!
(Unfortunately this software service doesn’t let us export it all)
4:00
It should be up for at least another 24 hours... you could copy/paste some of it from the chat to a document if you’d like!
Guest
3:59
Mike is there a way to save the questions & answers in the chat?  Lots of good info there.
Guest
3:57
Thank you Mike
Mentor Mike
3:57
A slower/steady climb is better for a Money Press.  Something that is really hot and has more explosive upside we like the calls side!
Adam
3:56
If a stock is in an uptrend are you better off w calls or should you consider doing puts for a money press?
Lance
3:56
Thank you!!!
Albert R., FL
3:56
Thanks to Preston and the entire staff for a great 2 days.
Mentor Mike
3:43
It is always a blast having these and getting to interact through the chat!
3:42
Great point Kevin and I couldn’t agree more Matt!
Matt P
3:42
OK, thank you. Thanks for moderating and answering questions
Kevin
3:40
know yourself and find what strategies work best for your lifestyle and goals.
Mentor Mike
3:40
They are working on the replay as we speak... I’m hoping we have it all turned around by Monday!  Look out for an email with the details!
Marc
3:39
Mike, how do we access the reply of the 2 days? Will there be a link sent out?
Mentor Mike
3:39
Once her account crossed above the 25k level she wouldn’t need to worry about the day trading rule.  And honestly you’d probably have very few day trades if you aren’t spending a couple hours a day at the computer
Lance
3:38
Thanks, Mike. So since Maggie is demonstrating a small account of 10,000 and is trading multiple day trades per day and per week as her journal shows it is not really accurate for a normal small account like I have. Right?
Mentor Mike
3:38
You never REAALLy know with Preston, but I think this will be it!  :-)
Matt P
3:37
Is there something final with Preston or is this the end?
Mentor Mike
3:13
You bet!!
Jeff N
3:13
Thank You Mike
Mentor Mike
3:08
Yes exactly! “Playing the down” is the general idea of trading a move lower, the Princess Trade is buying a put on a stock that’s looking over extended
Jeff N
3:07
Is the Princess Trade and Playing the Down the same type of trade? Long Puts ... with a similar set-up?
Mentor Mike
2:50
These are very quick/short term trades.  She sees a big move up, where it is overextended, and is just trying to trade a short move back/retracement.
Adam
2:50
I don't understand why draw the angle when it looks like she is just entering on a new high after a sell off and a rebound
Mentor Mike
2:49
I believe that is just a daily candlestick chart
Guest
2:49
What is the Candle and chart time set-up for this trade?
Mentor Mike
2:49
If you spend a short amount of time each day checking your current positions, to check on things, look for anything that needs attention, etc.  (say 10-15 mins a day)   Then we'd want to spend a little more time just looking around for new opportunities.  Once you get a daily routine down that might only take 10-20 mins a day
Kevin
2:46
I find myself getting stuck on a stock and sort of kicking a dead horse.  one thing I'm hearing from Maggie is she spends more time prospecting for better setups.  Has anybody ever attempted to prescribe how many hours should be spent prospecting vs hours trading?
Mentor Mike
2:46
No... but at the end of each week she posts her trade journals
William
2:45
Question for Maggie – does she send out trade alerts to her clients for all her trades? Thanks
Mentor Mike
2:37
Correct... you need over 25k to be a pattern day trader.  If you have under 25k, you can only do 3 "day trades" in a 7 week rolling window
Lance
2:36
A small account can't do day trading on most platforms. 3 max
Mentor Mike
2:36
You'll just want to be careful not to buy/sell in the same day.  If you can commit the time, you can just look to enter and exit at least the next trading day
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