Hubert Senters here. Let’s cover how the bonds work as far as tick values. Now, there’s different bond. There’s the 30 year bond. There’s the 10 year note there’s the 5 year note, there’s the 2 year note. They all trade slightly different and they all have different tick values. I’m going to cover the 30 here really quickly with you. So as you can see there’s a slide up on the screen. So we’re going to pretend that we’re all in this trade together. We’re going to say we are at $135 right here where this little X is at $135 and then the market’s going to go up for us and we’re going to hold it until it goes to $135 and 1/30 seconds. Now, these things trade in fractions. This is the 30 year. Don’t ask me why they trade in fractions. They just do it. It’s not a big deal. You can kind of get used to it so a $135 from $135 to $135 1/30 seconds. That is considered one tick. That is the minimum move these bad boys can make 1/30 second. And if they move up one tick you will make $31.25. If you’re short and it goes a direction you’ll lose that money. Now, if you go and that’s on a one lot. If it goes from $135 to $135 in 2/30 seconds will you take $31.25 multiply that times two or you just cheat the like it’s $31.25, $31.25 that’s going to be $62.50. Pretty simple, right. We’re going to go back to we’re trading one lot here. We’re going to hold it from $135 all the way until it goes to 136. That is going to be considered 32/30 seconds. And if you remember fractions from grade school. That’s one full point which equals $1,000. So that is how they work. Now, the 10 year note is slightly different. It is worth half the value of the 30. So in other words these ticks are going to be worth about 15 bucks a pop. So you can see where my PNL is going up here a little bit. $718.75 and then down here I’ll make another $15, $734 or it will take another $15 away from me. So that’s going to be up or down 15 ticks at a time so every tick I’m going to make or lose $15. So we’re going to try to hold on to that. Now, if I was going to do a 30 year. Once again it’s going to be $31.25. I’ve got a trader here and mark them but I will throw one on really quickly for you to show you what it looks like if there’s going to sell right there at market. I’ll pull it down here and get a feel so I got to feel so you can see if it goes up because I’m short. I’m going to lose $31.25. You see that right there? That’s a negative $31.25 if it continues to drop for me I would make $31.25 every tick it increases or decreases depending on my position in the market. Good luck. Hope it helps. And I’ll see you on the next video. Hubert.