Hubert here, and one of the hardest things to do in the trading world, is too buy and stick to your plan when you know it scares the bejeezus out of ya…or if you’re just really nervous about it. I’ll walk you through a couple examples. One of the things that helps you do it, is knowing your numbers. Just like being in any business, when you know your numbers and you know you can pay to advertise to grab a customer, then you know that’s a good business decision. Same thing in trading. So I know when I’m trading, so it’s smart to buy in certain places. Let’s walk through this. Strike 1, risk $156. Strike 2, risk $156, Strike 3, risk $156. Now if I have a trade setup that works 3 or 4 times out of 10. So I know I’ve got to be willing to at least put that money down. Then here, we’ve hit a single, double, triple, or even quadruple. So we bought here and are looking for it to go all the way back up to 163 17/32. The only way you can do this, #1 is know your numbers. #2 I know if I’m risking $156, I’m trying to turn that into $1000 or more. In most cases, I’m going to go for 2000 to 5000 dollars. Now in order to do that, you’ve got to have your risk set at $156, and have a big wide open target, and be open to it potentially rolling up there for you. Right now, I’ve got a target of $10,000. I risked $156, but it’s the hardest thing in the world to sit in it though. I’ll show you what the trade looks like, and I nearly jumped out of it…but I didn’t. I just bumped my stop up to something I’m comfortable risk-wise. The risk came all the way down to the lows of the day, and if it takes that out by more than two ticks, I know I’m on the wrong side of the market. So it didn’t do that, but it came down and breathed all over it. Then it went higher, and now it’s trading at 1656. That’s it. good luck. Hope it helps, and I’ll see you on the next video.
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