4 EASY Steps To Start Investing TODAY

hey hey guys how are you how y'all doing today hello a good someone's like hey investors hello hello oh this is so good i'm glad i see some people from sacramento and everywhere yes tanya let's make that money yes okay y'all tell me one thing that you've been afraid of when or or tell me one thing you're looking forward to in this session when we talk about how to get started in the stock market what's one thing that you've been wanting to hear about tell me in the chat then we can make sure that this is tailored towards you and i see people hey texas in here i see houston el paso new orleans coming strong oh my gosh so jamie i've been watching the show the originals and i know i'm probably super late they're on like season five and i'm on season one but it's based out of new orleans so now i think there's vampires and oh but i love it the show is so good okay good so crystal says reading charts fear of losing too much money yeah megan that's a true okay we can talk about that okay sandra says that it feels right and real okay entry and exit points that one will probably talk about more in next week's webinar on how to make a thousand dollars a day how to get started okay good whew these things are coming so fast keep them coming okay ashley says which stocks to pick we're going to talk about that i'm going to give you some ideas this time and next time in the how to make a thousand dollars a day we'll talk about that even more hey dmv all right yup get rid of the emotions good stuff peter how do you do that alexa says getting started stop losses okay leah leah that one's gonna be in next one too so so the my goal here is tonight i want to talk to all of the people who haven't started investing yet so we're talking about how to get started in the stock market and then next thursday we'll go one step higher and talk about okay now that i got my feet in the door how do i start making a thousand dollars a day like terry and her students are doing and that's a little bit more advanced so um i think you're going to get a lot of out of today you're going to learn a lot and then i would say come this week in next week so you can learn as much as possible good okay helen says risk management okay frank says calculated risk good okay how to pick stocks for the long time okay now shannon i tell you the truth i'm not an expert on that i'm a active investor so that means i'm trading for income how do you get money right now so instead of getting a side hustle instead of driving an uber instead of um you know working the night shift at at fedex how do you use stocks to get that money and then how do you use it to pay for things that are important so like how do you pay off your debt how do you pay for your um your student you're like maybe you have a son or daughter how do you pay for their tuition at school how do you pay for the house that you've been dreaming about with stocks so that's where i'm like that's my expertise and sweet spot good okay good shannon's like i'm okay with that too good stuff oh thank you keisha keisha says you look happy good for you thank you girl um makeup is deceiving no i'm just kidding i'm so sleepy all right good stuff making sure that's that's my goal awesome well it looks like we have quite a few people here so let's get started and i will tell you the truth i i didn't make some big pitch for tonight i probably should have my team probably is going to be mad at me but today i just really want to teach i just want to teach you some things about how to get started and that's my goal tonight and i yeah like that's that's the goal what can we do to make sure that you're ready by the time you come into the door at trade and travel so when you come to trade and travel which is my course and i'll tell you guys a little bit more about it but when you come to trade and travel we're um the first thing you do is open a brokerage account and then you start learning about how to trade so that's the um how do you pick the right company how do you protect your risk how do you start reading charts and then you're getting right in there with trading but what i realized that is that there is this foundation that would be helpful even before the course i had one student that was like terry what is a watch list and i was like oh that would be helpful to know um what is the dow jones what is the smp you know like some of those like basic terms would be helpful even before you start the course so my goal today is i'm gonna prep you on some things that'll make you even more ready for taking trade and travel and the first thing well let me just jump in okay good he's just like yes terry thanks that'd be good to know okay so is kaelin kayla's like yes yes yes okay good you're in the right place um so truly my goal tonight is first and some of these steps are on my instagram so at terry geoma we put out a post today and it was the three steps to get started and i'll just tell them to you up front and then we're gonna go into them more in depth but the first one is you have to open a brokerage account to be ready to go then the second one is that you have to pick what stock to invest in so today i'm going to show you how do you pick the stocks that cover the whole index like follow the dow or follow the s p and i'm going to show you how to pick stocks that follow a sector so maybe you want to follow health care or follow um i don't know technology how do you pick those and then i'll actually show you how to place a trade now um yeah we'll just actually like hopefully we'll have time if not then then we'll figure it out but my goal is the last piece of it is you have to place the trade which means you have to actually go into the brokerage account buy one and then you know like sell it to get your money out like that's how you make money as a trader so um it's after the market has closed so we probably won't be able to fully place place it but i can show you in the sim like how i would do it and hopefully that'll take some of your nerves away so you guys with me y'all with me for today i need to see some yeses in the chat i told y'all i'm sleepy so y'all gotta be with me we gotta do this together all right so let me um put my screen up and then good okay good i'm seeing jennifer said yes i'm seeing the yeses come through let's go okay good um somebody told me they were like terry so you've made enough money now everything you do is for charity huh i'm like you know i i wouldn't say it was for charity but everything i do now is a choice i choose to serve i choose to teach so um i want you guys to know like i'm here but y'all got to give me energy back so that i don't fall asleep okay because we've been going all right here we go so let me share my screen actually first let me open tradestation because it takes a minute that way by the time we get to that part of the presentation it'll already be up and going and then i'll share my screen y'all right now tag a friend tell them come on send a quick text message get your notes out let's just be ready to go once we got it up and going all right so you guys should see my screen and let's make sure that we have up canva which i thought i had up before but it doesn't look like it in case anybody does presentations this one i did in canva has nothing to do with trading but you can see the inside and kind of see what i've been working on um oh and that was the black enterprise article that you guys saw all right let's go so it's going to take it a little second to come up but this should be good and y'all know what i'm going to be doing so much in and out on this one i almost want to just leave it like this usually i would do like full presentation mode but i'm going to leave it like this so that we can like move around and i can show you some things like real teacher style if that's okay with you so instead of us just doing presentation i'm gonna keep it like this and you guys can still see everything hopefully you can see the how to start investing for the ultra novice never done it before beginner yes you can see it okay good don't tell you i got to be with me be ready to laugh let's go give energy yes and then if you are also like me and don't like a lot of like distractions feel free to close your chat down you're good stick with your own notes don't you know pay attention stay focused tell the kids go in the other room and then do stay until the end because i do think you're going to learn quite a bit of good stuff here so for those that don't know me i'm terry gioma and i literally trade and travel like that's what i do i'm a day in swing trader i trade most days some days i take a break but lately i've been trading for my dream home so i've been trading every day um and i travel i love to travel the world and i've been all over the place i've been to you know korea and thailand that's actually uh south korea and thailand is where i actually started up teaching thailand was my first class and then vietnam was my second class teaching people about the stock market then i came home and they had seen it on instagram and they were like oh terry we need you to teach us too so i had no idea that i would be even in a field where i'd be teaching people how to trade but that's what i was doing to afford my travels if i wanted to do a trip to greece i knew that it was 3 500 so i needed to make 300 a day for about what 10 12 days and i could afford my trip and that's literally the thinking that i had how do i pay for my bills with trading so that i could kind of not have a boss live a decent life and i'm not the type that's like oh i want a lamborghini and you know 50 million well i do kind of want 50 million dollars but when i was trading or w when i'm trading that's not the goal for me it's like how do i make enough to just live a decent life and for you it might be and actually tell me in the chat what your your inspiration is what is your kind of goal for the money is it hey terry really i just need you know an extra 300 a month to pay for my groceries or i have a cousin he was paying for his car note and all he needed was like 243 dollars a month to have that done and that's when he would trade for it or maybe you're somebody like you know what terry if i just had an extra 100 a week that's 400 a month that's something like fun that i could do for me like what are your personal goals around trading and i'm actually click over because i want to see what you say to travel to retire my husband good stuff i retired my mom to pay mortgage be debt-free good freedom quit my job awesome like literally most of those things are things that i've done with trading like i quit my job as an assistant principal at an elementary school the kids were great but the parents and the admin were crazy um some of the parents were the sweetest yeah i'm really just playing um but the bosses not so much they were crazy for real um for real um then i retired my mom i her her yearly salary is like 35 000 a year and i made a trade in one day that was like five times five years of her salary and was able to retire her i've paid off my student loans with trading so you know we we can we digress y'all don't want to hear about me you want to hear about you but that's who i am that's who you're listening to right now as your teacher and i've just found that like i'm really blessed at being a really good teacher and i'm blessed at being a really good trader and i can do both some people are like you know where do you make your money both like the lord has really blessed me in two things and so for you guys today i want you to focus on this like as you're listening to me if you have any fears about trading or any like myths or preconceived notions as you come into this class like take a minute and just like shake it off what's the song shake it off shake it off i don't know the rest of the words but that is that is a song anyway i want to want you to do that um and the thing is like it's better to say oops than to say what if and there's so many of us that are always stuck in that i should do that i will do that when it comes around i'll do that but investing is something that like you should start and it's better for you to have tried it than to not have tried it at all so today we're once again talking about the four steps that you'll need to get started as an investor with me that's my instagram terry geoma um tag a bestie like i said take a screenshot let them know you in here you learning you investing in yourself um we have two instagram pages my personal one terry gioma and then the trade and travel one tag us um and then here's the things we're going to cover and i did i know somebody's like terry you just said that i did but y'all know people be running late so i have to repeat it again for those people that just got on the call welcome so these are the things we're going to cover how to open a brokerage account pick a stock and then place the trade so let's first start about the opening the brokerage account so here's the thing i get this question all the time and i will take a minute to answer your questions about the brokerage account and each part will will take a second to answer questions but one of the biggest things questions i get is like terry should i use robin hood weeble interactive brokers td ameritrade fidelity um tradestation how do i know which broker to choose because literally that's the first step and for those that are wondering like what is a brokerage account a brokerage account is just a bank account it's a bank account where you're able to trade stocks and the coolest thing about it is that when you open your brokerage account um like you'll do the paperwork just like a bank account but then also they're going to ask you do you want and this is extra we'll talk about this more actually next week's webinar on the how to make a thousand dollars a day one but when you open this brokerage account they'll ask you do you want it to be like a regular cash account or a margin account i want you guys to select margin we're not going to go deep into that today because this is for the ultra novice super beginners you got this you about to start trading investors but just know next week we'll cover that but in the brokerage account these are the things you're going to look for you want to find one of the brokers who has good customer service i will tell you the truth um i've tried most of the ones out there and one of the worst pet peeves is when something is going wrong and you call your broker and they don't answer the phone like that is like oh my gosh like i had a account with e-trade they did that to me one time i called nobody could answer they kept passing me off from person to person i moved all my money that day to another broker so one you're going to be looking for a broker with good customer service the next thing is you want really fast entry times this is where robinhood um even i don't have a lot of experience with weeble i'll tell you guys the truth but this is where robin hood and even fidelity sometimes can can fall or falter because their entry times has like a slight delay which is where they make their money so if you place an order to buy it ten dollars and you did like a market order then they will wait like two or three seconds to place the order so you might end up getting it at 1003 ten dollars and three cents which doesn't sound like a lot but they actually make the difference on that three cents and that's how they're making their money other brokers though they make money in different ways so they're actually going to try to get you a better price so if i put in at tradestation that's my broker if i put in an order at 10 i might get 9.98 and i've actually seen that literally happen between me and one of my students i place a trade and they place the same trade same time but i get a better price so that's something too that you'll be looking for in your broker who is a more robust broker known for working with traders because they're probably going to give you a better price another thing that you're looking for is advanced order types and advanced order types what does that mean terry so when i am trading and like i said in a little bit we're gonna place a trade so i'll actually show you this as well in tradestation but in um in a more advanced broker you can have two exits at a time now why would you need two exits so some of you guys how many of you all work you have a full-time job or you might not be able to look at the market every day well an exit is going to allow you to just have the order sitting in the computer so that the trade will operate on its own if it goes up to wherever you want to exit the trade you'll have an order sitting there and if it starts going down while you're at work and you can't monitor it you can have an order sitting there only certain brokers will let you have two exits those are called exit orders two exit orders at a time um an example of this is i i use bank of america so i opened up a merrill lynch account because merrill lynch is attached to bank of america and i do think that's a good idea for some of my beginners that have a bank of america account ask them you can go to the bank and say hey i also want to open a account to trade to open it with merrill lynch only thing is that merrill lynch only lets you have one exit so i put in a trade one time i think i was investing in probably probably apple or chipotle at the time and i wanted to be able to put in my two exits because that's what i do at tradestation but they only let me pick one so i had to choose am i going to protect myself from losing if it comes down or am i going to get out when it gets to where you know i've made my goal for the day and you don't want to have to have that choice like you want to be able to have both sitting in the computer at one time so that's another thing that we're looking for in a brokerage account final things are you want to have good customer service let me see do i have that here um you want to have good customer service you want to have good charting technology so just write those down and as you're looking at your broker whether that's td ameritrade interactive brokers whatever it is just check and make sure that it fits all the bills um as you see here one of the things that i like about tradestation and i don't even i don't even get money from them so so y'all can pick whatever broker you want key is first step is you gotta open a brokerage account and fund it um but one of the things i do like about them is oh they also do margin so what is margin i told you i'd cover it more next week but margin is just when the bank lets you use some of their buying power in addition to your cash now this is like a line of credit if you've ever bought a house and your house had equity sometimes they'll give you a line of credit and they'll say you know what if you need to do a renovation you can use this money or if you want to use it for whatever you can use this money it's here but you don't have to use it if you use it you pay an interest on it if you don't then you don't have to pay anything actually brokerage accounts will do the same thing and it depends which brokerage account to see what the margin is so like merrill lynch they give you two times your cash amount for their margin um tradestation will give you four times your cash amount so if you have two thousand dollars you can place a trade up to eight thousand dollars you just have to make sure you don't use that money for too long the next day they'll ask you to sell off some of it um because it's not your money but if you if you see like a really great opportunity you can take it because the money is there um and then they waive fees but a lot of brokerage accounts have waived fees and and i want to show you that so i told you we're going to be flipping around to some different things real quick let me look at how you guys are doing are y'all still with me okay so kamoy says hey kamoy how you doing says how do they charge interest i'll tell you about that um denise says i'm in london i know tradestation also operates in the uk so that's fine um yes ladonna says can you trade inside of an ira yes you can and you can also move your investment so some people may say well i have some stocks already at fidelity do i have to sell those stocks before i move them to a different brokerage most brokers will will transfer the whole portfolio so if you want to keep your your amazon stock or keep your tesla stock they can move that whole thing over to a new account so do know that and then here let me just today remember i told you i want to make sure that i'm really getting some of those nerves out so how would you open an account so i told y'all i use tradestation so i'm going to show you from here but like you'd go to tradestation.com you could open then press open an account ah of course it wouldn't work the day i'm trying to show y'all see problems come on now let's get it together uh actually let me put it let me actually put it in because i've been having that sitting there a second maybe that's it oh okay it says there might be too much traffic oh it sees that there's too many people oh my bad i know i couldn't talk on a webinar and show y'all stuff my bad no but here i do want to show you all something that corey who is our broker showed me and here i'll close this down so y'all just see this but um at tradestation and i'll actually put this link in the chat one of the benefits of being in the trade and travel program is that we have a direct partner at tradestation for when we have questions so i'm going to actually give you guys that same access his name is corey andrews and again like i send him so many people if he doesn't respond right away just give him grace and here's his email he has told me like instead of calling email him because he gets so many people reaching out to him but i'm gonna put this link here in the chat and then what it does is it allows you to get free stock trades which most most places have free stock trades and then 60 cents per contract with options and then your software and real data are also free so that's like a hundred dollars a month savings and that's something that usually just my students get but because you're here on this webinar i'm gonna pass it to you too so let me put this link in the chat and then y'all can copy it but if you decide to open an account with tradestation just use this one so that you can get those benefits from my students all right here let me come in the webinar jam i'ma stop sharing for a second so i can put this into the comments there you go oh you're welcome kim kim says thank you oh and dominique says thank you oh if he says slow down effie you know what there will be a replay of this and you'll get a replay uh emailed to you afterwards so you don't have to worry but do y'all see that there let me see if i can pin it uh broadcast comment to the room i've never done that before but there you go so you guys can just copy that link if you want to open an account and then that'll make sure you get the same discounts as my students i will say like we used to get also like the options trades a little cheaper but they stopped that deal um unfortunately but at least you'll get your data fees waived which like i said is an extra savings of about a hundred dollars a month so hopefully hopefully that will help and then okay good question so sonya just says terry can you move from a cash account to a margin account and the answer is actually they'll require you to open another account it's kind of the same as a checking account versus a savings they'll just say hey fill the paperwork out again and this time click savings so they'll do the same with this one they'll say hey fill the paperwork out again and this time check margin okay um if you're having a hard time if if you guys have any kind of issues let me also put my team email address in here hello at i trade and travel dot com hello at i trading travel dot com if anything's come up where you're like oh man i can't get the link or something happen just email us and we can we can take care of you um in the next couple days you're welcome shirley no problem but that's a good link so first step open and brokerage account another cool thing about tradestation is if you fund it with five hundred dollars then you're able to um trade in a simulator which we're going to be using in just a minute so that i can show you how to place a trade and actually let me go ahead and log into that while we are here i see someone says that i'm freezing if i am at the top press refresh and you should be able to see me you guys good okay and then for cason he says um okay good um cason says what asset accounts have you chosen to trade i trade stocks and options when you're opening the account you can go ahead and select all the things though it'll say do you want stocks equities options excuse me equities which is stocks options or or futures check them all it doesn't hurt to have more capability up front than less so just check it all and also another key is when they ask you how much experience you have you can include if someone else has been investing on your behalf so if you were in a 401k um and someone was investing for you or if you had like um a different brokerage account but you weren't investing it yourself you can still count that though in your years of experience okay so that'll help and what that does is it'll help for down the road when you're applying to trade options they want to know they base your your options access on how long you've been trading so that way it'll help you later to have a higher level of of access somebody says is wells fargo good brokerage account um i haven't used them before so i just can't speak to it um and then susan says great question um if can you use trade and trap tradestation if you're not in trade and travel and yes you can that's why i i went ahead and put the link here and my goal is like i said everything i'm teaching you now will just help you for when you do come into trade and travel you'll be already ready to go like um my trading travel students when they first get set up they have to open an account but you guys will already have one open so you'll be you know two steps ahead alright so now let's keep going to the next step okay all right so the next step is picking a company now today's lesson we're talking about talking to the y'all can say it with me the super novice ultra beginner i'm about to be a traitor for life investor i changed that every time so you probably couldn't have typed it but but the truth is like we're talking to the novices today and next week we'll talk to a little bit more advanced but still novices so if you are just now opening your account and you came to me and you said terry i'm i'm a little scared um but i want to get started and you know i want to take your class but i'm just like how do i get started i would say well the first thing is maybe consider investing in an index fund that follows the market or an etf that follows a sector okay and so terry what are those things so an etf is just a bucket of stocks but it trades like one stock so if we do an etf of of an index so an etf of the dow jones the dow jones has 30 stocks in it and the etf would follow those same 30 stocks but you just invest in one company to follow them all does that make sense so you're investing in a group of companies but they're all bucketed together into one that's the etf and it's called an exchange traded fund all right some of the most popular are an index fund which follows like i said the overall indexes and then sector etfs so the indexes let's actually check those out for those that that don't know so the first index that many people look at is the dow jones and what often investors even advanced investors don't realize is the dow jones it literally just covers the top 30 companies in the us so i'm actually going to give you a second to look at these these are the companies that are in the dow jones so you got american express apple boeing uh chevron goldman sachs home depot johnson and johnson i don't know if anybody's trying to take the vaccine um they put a pause on it i'm being facetious you got jp morgan chase so it's a mix of everything you got nike in here procter and gamble sales force united health so you got a little tech a little banking a little food i think mcdonald's is here yet little food um little uh communications with the verizon so you got a little bit of everything in the dow jones that's why when we look at the dow we can say okay this is how the overall market is doing because we're looking at the top companies over a sector right i mean over um over the whole economy yeah visa in here walgreens walmart and this dow company please if you think this is a dow the company not dow jones so i don't want you guys to get confused and put in the ticker symbol d.o.w thinking that you're investing in the overall dow because that's not true this is a company the way to invest in all 30 of these companies is actually an etf and there's a couple different ones but there's actually an etf called dia so i'll come right here the ticker symbol would be dia that's a popular one that follows the dow jones now i should have done a disclaimer but disclaimer tonight everything i'm saying tonight is for educational purposes only i'm not telling you what to do but i just want to give you guys these things because like a lot of us we never learned this in school so we didn't know we could invest in something that follows the whole dow jones can you just imagine like think back to last year march of 2020 the whole market went down and then all of a sudden the whole market starts rising back up to new highs well what if you could have just invested in the whole thing you know you didn't you didn't have to pick a company you didn't have to to work too hard you just said you know what the whole market is rising i'm going to invest in the whole thing you could have invested in this ticker symbol dia all right another one is the spy and let me also give you guys i found out about this one recently but there's another website too that also looks at etfs and it's etfdb.com so you guys can write that one down and we'll come back to this one in a second etfdb.com and then where i was just a second ago with the dow jones this is the cnbc app so this is cnbc.com-30 and that'll tell you the 30 stocks that are in the dow it'll also tell you the stocks that are in the nasdaq the nasdaq are mostly technology companies so if you wanted to look and say okay i want to invest in more technology companies the ones that are usually tech are falling in the nasdaq and so you see here some popular ones are like adobe and advanced micro devices amgen amazon apple all those are in the nasdaq okay what you might not have thought about was like activision blizzard how many how many of you guys do gaming activision is in here i bet um i bet there's some others yep electronic arts is in here for those gamers out there they're in the nasdaq so if you or somebody that's like you know i like gaming i'm interested in investing in technology then maybe you do the nasdaq the ticker symbol for that one that's really popular is qqq and i know i skipped s p i'll come back to it but the qqq follows the nasdaq and then there's also the s p 500 it covers the top 500 companies remember the dow was just the top 30. the the s p is the top 500 companies in the us and that one a popular etf to follow is spy often i'll tell you the truth often the s p 500 and the dow they tend to move together but one secret i will give you is you can only trade indexes outside of using etfs you can trade them in options the dow tech usually moves a little faster than the s p so if you are trading these i want just give you a tip if you're trading the s p 500 watch what the dow is doing if it's moving up in numbers like say the dow jones opens at 200 and then all of a sudden it starts going up 300 points and the s p hasn't moved yet you can assume that s p is going to follow the dow so it's a good like the dow is a good indicator um and i don't really use indicators but i'm just saying the dow jones is a good thing to watch if you're trading the s p so that's just a little trading tip but these usually trade in the same direction but um you'll notice that the dow will move in more points than the s p but the s p like i really like trading this one it's it's a little bit more stable like i just really like trading s p all right so that's the indexes and let me move a little faster and then what about the sectors so there's different sectors and actually i'm gonna go back to well we'll do it in two ways just to show you the differences so the essen the cnbc app this is what they show so these are the different sectors that you can invest in so we're going we're kind of narrowing down first we were at the big indexes now we're coming down to the sectors so in sectors you can do consumer discretionary you can do energy financials health care materials real estate um you can decide hey i want to invest in one of these industries uh if you go to that etf db you can actually see how many etfs are are in or like for each sector so i'm going to pull it out like here the sectors we just looked at look how many etfs there are for each sector there's like 37 that cover consumer discretionary 90 that cover technology 25 color cover utilities 60 different ets cover health care so because of that i told y'all help you make it easy for yourself so let me give you some of the ones that i like the most in these sectors and it's called sector spider etfs so if you go to i think that did i put them up yep here if you go to sectorspdr.comsectorspdr.com it'll give you an etf for each sector so you see here this one's for real estate xlre xlf is for financials xlv is covering healthcare and then you can keep going around if you want to do communications and keep going around technology remember it had 90 different etfs following technology sector well this one is called the xlk which is pretty popular and then you're able to click into it too and then actually see what funds or what stocks are in there so here let me show you here are the different ones and like how they're performing so you guys can come do some research here just go to sectors sectorspdr.com but let me show you how to also see what stocks are in each one of these etfs so you can click xlk and then it'll actually show you down here when you press portfolio what the holdings are so when we say you're investing in the whole technology sector this is what's what you're actually investing in you're investing in apple that's 21 of this fund microsoft is 20 and then it goes down from there but these are still significant nvidia visa mastercard paypal intel adobe cisco salesforce so those are like the biggest holdings in this excel xlk etf but this is a way for you to say okay terry i'm not i'm not quite ready yet to pick one stock but i really do like technology so how do i invest in that sector well check out these um sector spider etfs that's a good way to start all right y'all still there so we're on step two we just said first step was what y'all put it in the chat i kind of gave you an exa i gave you a hint the first chat first step was opening a brokerage account second step picking a company and we suggested for those ultra beginners that haven't come to the class just yet one company or good idea might be investing in an etf for an index or investing in etf for a sector okay so we're getting there we're getting there now the last step y'all i'm like literally teaching you how to get started as an investor so this like you know what my challenge after this actually i told you i didn't have like a real good call to action after this but my challenge is going to be i want you guys to go and do these steps like buy next week go open an account and then and i i'll tell you the truth it takes about two weeks if you pick one of the more robust brokerage accounts it can take from two days to two weeks to get it open so it might take a minute but go open an account and then try even just buying one share of one of the indexes or or etfs that we just said i mean and like i said i can't tell you what to do but i would challenge you like if you really are serious about getting started get started okay so now the last step of how to get started in the stock market is that you have to place your trade and let's see if my tradestation is up now let me stop sharing for a second and make sure it's up okay and are you guys seeing me i think you guys are seeing me now right okay good all right and y'all still are y'all with me y'all ready like y'all y'all hopefully today you are ready to start to start getting started at least you're good thank you thank you sanderson who's like this is gravy oh and let me get my charger real quick so let me share my screen i'm going to show you what the inside of tray station looks like and while you're looking at it and just kind of get the lay of the land you don't have to like look real deep but i just want you to kind of like look at the buttons look at the matrix oh now we actually just place a trade we're going to make this super easy but at the top here what you would do is you would put in the symbol let's do one share of the smp so the smp would be your ticker you'd have to put in the ticker for it so the spy is the ticker we said that followed the whole s p then you put in your quantity now i can't breathe y'all need to worry out then there's the order type and this is where i want you guys to make sure that you're always let me put it for good so cancel so it'll brighten up so an order type i want to make sure you're always putting in a limit order instead of just doing a market order because a limit order will actually make sure that you are getting in at the price that you want instead of what the market tells you and if we want to see like what this is going for right now what we would do is open up a watch list which would be our radar screen page and then we could put the ticker symbol in here so spy and every broker is going to be a little different but we we could also put in dia this is going to be our watch list to see what the price of the stock is and then we could even put in qqq now we followed the whole index um so here spy was going for 415.87 and usually it's just two decimals away from what the actual s p is going for so here if we wanted to switch back to the s p if we want to trade the s p we could put a limit order for what this price is or even a little lower at 400 and lump 414.99 i always like getting a better price and the stock market is not like a grocery store where you have to buy it whatever price they say it's a negotiation so me as a buyer i can put in a lower price and oftentimes i'm going to get my price so just know that you can put in a lower price and then for us it's after the after hours so we'd go in and put gtc good till cancelled you don't have to change anything else and then you press buy and then it's going to say you know your pres you're doing this after market hours that's okay the total cost of this oh my quantity size let me change that up here where it says quantity i told you guys to just buy one so i'm gonna change it to one but you could buy more if you could afford more and then you'd press buy it's always good to check that little thing there we go now it's like okay you're buying one share at this price i'm looking at how much i'm gonna have to spend it's gonna cost me 414.99 am i okay with that yes so i press yes and now it's in the computer and what will happen is when the market opens tomorrow it'll actually execute the trade so i can go to sales manager and you know what you guys will see some other things i have in my i'm gonna go over to the sales manager our trade manager will actually see the stock in our queue so now you see it where it says trade manager and orders and you can set this screen up however you want to see it i just set it up for like brand new person um i have some other workspaces that are a little more robust as a trader i'm a technical analysis trader so i got charts and different things but i don't want to overwhelm you today so here now you can see that that's in the computer the spy i'm going to buy one share and then tomorrow this is how much it'll cost but tomorrow it'll actually if it gets filled it'll execute and it'll show up here and then what we'll do is let me look at some current positions that i have here in the sim so i have some options positions here let me see if i have a stock all right let's look at this one so till ray i guess i had or no let's look at this one check out this nvidia i know this is hard to see let me see if i can open it up a little bit so if you look right here some of them i'm i'm making money and some of them i'm losing money and that's okay in trading there's going to be some that you're winning and some that you're losing that's okay what the the bigger concern is over here in this column that says open p l if you look down where it says how much i'm making so on this on this trade i'm up seven thousand two hundred i'm down two thousand on this one hey sometimes you're not going to make it i'm up 13 000 on this one and then down 875 on this one so my total profit right now is 18 000. so what if we said you know what i've reached my goal with nvidia i'm making 13 000 here and one of my goals is maybe maybe you needed 10 000 to pay off some debt so you can click into this trade and now you'll say it'll tell you to close it that's how you're going to make your money so i'm going to close this position so close this nvidia position and if i just did send now then it would do a market order and get me out at whatever price is current price but i told you guys i like using limit orders so i'm come down here to customize at trade bar so it came up here to my trading bar and now i'm going to put in what i want to sell for so i'm in nvidia 100 shares i'm going to do let me do good till canceled good till cancel just means the order will sit in the computer until it's executed which is helpful for us because we're trading after hours so i'm a coming here order type limit and then i'm going to put in the price that i want to sell right now nvidia is at 506 and you can see excuse me no i got in at 506 and it's currently the last price is 644 dollars so that's how i made the money i had a hundred shares that i bought at 506. it went up 144 dollars per share i had 100 of them so you do 144 times 100 that's how i'm making almost 14 dollars okay so i'm gonna sell limit price 466 and somebody might say terry why are you putting in the same price why do you even have to do that because once again if you put in a market order instead of a limit it can give you any price to exit so i want you guys to make sure you're getting the best price so you're going to do limit and put in a price and then you'll press sell and tomorrow when this executes i'll have thirteen thousand dollars thirteen thousand seven hundred seventy five almost fourteen thousand dollars that i can now go use for whatever i want and it's really simple i'ma stop sharing now but what would happen is that money would then go into your bank account and then you can do like a balance transfer just like if you were moving from your savings to your checking you would just move that money over to your your regular bank account and then you can use it like that's a i mean 14 000 when i was assistant principal i only made like 4 000 a month so that would have carried me a good three months just with that one trade alone and then those other ones until i sell i can still let them kind of work their way and do their thing until they um they either go up or until i'm ready to sell them so does that make sense like that's literally how to get started in the stock market and i'll tell you the truth what i just taught you with the index funds and the etfs you'll probably make about like the average for the market is like a eight to ten percent return per year um you can also because those are stocks though you can trade them and that's when you'll start making a bigger return and like that's what i teach in trade and travel so how would you trade these things like getting in and out of them on a regular basis to make a 10 to 20 return per month so so that's what we do in trade and travel but at least this will get you started so y'all put in the chat and i'm so sorry my computer's about to die usually i would take like a ton of more questions but um did this help just let me know in the chat was this helpful and of the things that i taught today like what was something that you like learned what's a oh yeah i didn't realize this or are this nugget oh good i'm seeing a lot of this is great oh good thank you ronel he's like i see how real terry is i think you know what's so sad though is like i wish i had my charger and i have a feeling it's like in the car and i'm gonna be so mad that i just didn't bring it inside the house good good so i'm glad you guys it looks like you guys at least hopefully hopefully i'm seeing a lot of yeses definitely very helpful so hopefully this took some of the fear away and and of course like i said when you so once you get this part it's like okay i opened my account i bought my first share and many of you guys have done that like you you've done that step then the next thing is like okay well how do i make a higher return and that's where i come in and say okay this is the stocks that you pick and this is what we do in trading travel but it's like this is the stocks that you're going to look for in order to make a higher return this is how you're going to do your risk management those remember how we put in the limit order where there's other order types you can use to protect yourself um this is what you're going to do looking at charts to know when to get in and out of the stock like we sold in nvidia but we kind of just picked the price today but you could look at a chart and say is this the right time to sell or will it keep going up or you could um or when we got into um the s p we could have looked at a chart to say what price should we have really put in i put in 414.99 just because i wanted it to be a little better than current price but if i had looked at a chart i could actually say you know what i think it's going to come back down to 387 and when it gets to 387 it's gonna hit there and bounce back up so we're gonna put our order in at 387 you know like we can do that with charts so like that's what what the next step would be and that's what you would learn in trade and travel so i hope this was helpful i hope you guys at least are like whoo that makes sense about investing i can breathe and then let me see we uh this thing is going to go out at some point and when it does i appreciate you guys for coming in um but until then let me see if i can answer some questions and then i see some people asking okay good some people are like it was good to see the website it's good to visualize good um if you did want to get into the course it's invest with terry.com that's trade and travel course invest with my name is t-e-r-i so y'all can go there invest with terry okay good so danielle says um basically the question is i'm gonna tailor it a little bit because she send it to me private but um how much do you need to get started the tradestation app that i just showed you you can actually there's an app on your cell phone and then what i showed you was the desktop version the app on your cell phone is even easier to use you can open that account with five hundred dollars and then use the simulator and that's what i was showing you guys today it's just like the regular thing but it's with paper money so you guys can do that with just five hundred dollars when you're really starting to trade more actively i suggest having about a thousand to two thousand dollars at 2 000 that's when that margin account starts kicking in and you can trade more like you can just trade more often when you have that buying power because you don't have to wait you know if you have 2 000 and you have just a couple shares it might tie up a lot of your money but if your user have that margin you can be in several trades and kind of rotate them without having to stop as often good katie i'm so glad she says yes very helpful this relieves my sense of fear and that's that's why i wanted to do this like we for financial literacy month i asked my team like what can i do i want to do something and so this was the first step good okay so lolita says how long to hold let's uh join us next week when i do the how to make a thousand dollars a day web uh webinar it's free too and at the same time um because we look at charts to figure out how long to hold it you're going to look at a chart to see where the banks big banks like morgan stanley are trading and where they're selling or where they're buying and where they're selling and then you're going to hold it as long as you need to for it to do like get from one place to the other that could be a day it could be three days it could be a week so um it's really about the charts i love that elma says tara you make it sound so easy but it really isn't that tough it really isn't that tough but i do think it's important to have the right teacher because like i've been trading 11 years now the first six years i was trying to teach myself and it wasn't working so it wasn't until i started taking classes and i started practicing that i even got really good and came up with my strategy so like it's much easier when you have like a teacher or mentor christine says do you teach options yes in the vip program so the whole class is called uh vip trade and travel it's eight weeks and we go from uh basically what i talked about today picking good companies um well not our webinar but picking good companies risk management technical analysis then we do shorting so that's how to make money on the when the market is falling we talk about gaps in globe x trading and we do options that's the eight week vip program and if you want to start with just the first half of that you can and the whole thing just so y'all know like there's no secrets around here the whole thing is 5000 and then the first half is 2500 and when you want to upgrade you just pay the difference so you just pay the extra 2500 later if you want to upgrade um i guess since you guys are on here though i will give you a coupon so if you put in life skills here let's put that in here so if you put in life skills on the vip program promo code it'll take 500 off the course so for those that are interested go to invest with terry but scroll to the bottom and do the vip and put in promo code life skills and you'll get it'll take 500 off so that's a blessing all right any other questions good question so el elmira says should we open the account and do it on ourselves before we join train travel honestly i think it'll be a lot easier for you easier for you if you join trade and travel first because then you have my coaches you have myself you have all of the students we've had over 6 000 students that i've taught how to trade and we're all in a facebook group community together so anytime you have a question you'll be able to ask them like and our community is so like supportive and helpful and friendly um so i think it's better to just join trading travel first and then part of that is going to be opening your account um so honestly to answer your question i would say join the join the class and it'll be helpful for you yeah wendy trading travel is tough it is a more robust platform like even what i was showing you today hopefully that kind of showed you some of the buttons to press but trading travel is a bit more tough that's another good reason why it's good to be in the class because then like you'll get to see my videos and see we have like a whole section on how to start how to do tradestation how do you do a watch list in it how do you do it so that will help um good question b b says am i planning to stay with tradestation i remember in an interview that you said you no longer had a relationship you know what b i sent so many people to them they backpedaled a little bit and i still don't i still don't have like a relationship like i'm i'm not making any money when i refer people there but they held those benefits for my students and that was what was important to me the only thing is that the options trades used to be 20 percent cheaper so they used to be 48 cents for us because they were like using a percentage of it to pay back the tuition they're not doing that anymore options trades are 60 cents but they still are waiving the data fee waiving software fees and waiving any equity fees so that we're trading stocks for free so so they've they've maintained those and that's why i still i still think it's a good choice in the future i might switch it up but if you all know some good connections that i hear a lot about like td ameritrade and other places let me know but but for now i still like them awesome thank you things people say can't wait for the next webinar oh here i'll put this on a broadcast the website for the course investment terry.com okay so marilyn says can you see step three again and marilyn there will be a recording of this it should be sent to your email so that's one of the reasons why it's good that you registered because you'll get a a recording and then jimmy says should we be doing this first trade in the simulator i encourage you yeah you can do it in the sim until you actually get into the class and start really learning when to get in and out of a stock or trade um it might be good to do it in the sim yes shirley you can rewatch this um good i'm glad most people it looks like this has been helpful uh jennifer says how often do i teach in the course it's um all in videos and recorded so you can do it at your own pace and then weekly we have a live uh q a and coaching calls and for the for the vips they have two they have a coaching call on tuesdays and they have a study group on saturdays so and then the trading travel students the first half the uh standard students the ones in the first four weeks they have one on wednesday yep so roland i hope that answers your question as well okay talisha says what are the tax implications what they do is at the end of the year the brokerage company will send you a i think it's a 1099 but don't like i'm not a cpa so i might have my letters and numbers mixed up but they'll send you the paperwork and you just add that to your income just like a side hustle if you had a side hustle or got a bonus at work you just add that to your income and then your um your taxes tax rate will be based on that so it can be helpful if you have a loss it can go against your income so that you can pay less or if you have a gain it can it'll just be part of your income so it's really not i'm not sure what caused so many people to be worried about the tax implications but it's really not that different than just having a side hustle or another job um i answered that question oh thank you sandra she says this teaching makes me want to start your course now yeah girl y'all let me know if you actually do sign up for the course so i can shout you out hopefully before the battery guys uh oh it's got the little red blinking things let me just stop so thank you guys so much for coming to the class tonight i hope you learned something from the webinar please join us next week and you don't have to re-sign up it'll send you a reminder reminder about it but um next week next thursday i'll do the how to make a thousand dollars a day webinar and we'll cover even more on like what about trading and uh what you need to know for for becoming an uh active investor stuttering but what you need to know to become an active trading investor and thank you guys once again for coming i hope to see you in the course soon and uh yeah and if you do have questions that i didn't get to i'll try to look at the questions as well and and we can respond to you in another way or send us a dm on instagram terry gioma is my ig send us a dm there as well and we can we can get your questions answered all right elma says does the coupon expire not yet but move fast so you can get that 500 off promo code life skills okay guys all right let me go before this drops out have a great day i'll talk to you later

Channel: Trade And Travel

Views: 156,998

Keywords: #generationalwealth, #million, #pandemicproof, #1000inadayclub, #stocks, #invest, #wealth, #sidehustle, #financialliteracy, #teriijeoma, investwithteri, retirement, stockmarket, shorting, trading, extramoney, 1000inaday, daytrading, budget, invest, 401k, swingtrading, stocks, tradetoday, how to place a trade, how to start investing, how to start investing today, options, investing, trading plan

Id: h3daMiczips

Length: 67min 19sec (4039 seconds)

Published: Fri May 21 2021