Veteran Wall Street Trader Reveals Strategies Used At Stock Exchanges

Summary

In this insightful video, veteran trader Richie Nasso shares his 40-year journey on the New York Stock Exchange floor, emphasizing the importance of understanding market algorithms, risk management, and trader psychology. He reveals the significance of stop orders in successful trades and offers practical advice on scaling trades and managing emotions. Richie's experiences highlight the necessity of preparation, discipline, and the reality that trading is a marathon, not a sprint, debunking the myth of get-rich-quick schemes in the stock market.

Takeaways

• 🤖 Algorithms dominate the stock market, not big institutional players or hedge funds.
• 🚀 Richie Nasso started as a runner making $60 a week and became one of the most powerful traders on the New York Stock Exchange.
• 💼 Nasso's initial business was trading IBM, which at one point constituted 19.78% of the S&P 500.
• 🌐 Nasso opened offices in London and Switzerland, trading for some of the largest institutions in the world.
• 📈 He executed the first program trade in the history of the NYSE, involving 10 million shares.
• 🎓 Nasso's educational background is high school only, emphasizing the importance of intuition and experience over formal education in trading.
• 🛠 Nasso's routine involved early mornings, connecting with European clients, and constant study of market conditions.
• 📊 Emphasis on the importance of understanding technicals, emotions, psychology, and the role of algorithms in market movements.
• 🔁 Nasso recommends against single entry trades due to their risk, suggesting traders should scale into their positions.
• 🚨 He warns of the manipulative tactics by market makers who can see order flow and stop losses, advising traders to be aware and act contrarily.
• 💡 Nasso's final advice is to manage risk, study diligently, and approach trading as a marathon, not a sprint, with no shortcuts to success.

Q & A

What is the main point the speaker emphasizes about the control of the stock market?

The speaker emphasizes that algorithms, not big institutional players or hedge funds, control the stock market by creating liquidity and volatility at premium and discount levels.

What was Richie Nasso's initial role when he first started at the New York Stock Exchange?

Richie Nasso started as a runner at the New York Stock Exchange, making $60 a week.

What stock did Richie Nasso begin his trading career with?

Richie Nasso began his trading career with IBM, which at the time constituted 19.78% of the S&P 500.

How did Richie Nasso's trading business evolve over the years?

Richie Nasso's trading business evolved from trading one stock, IBM, to controlling 30% of the daily volume and building up a clientele that included major institutions and corporations.

What was the significance of April 19th, 1983, in Richie Nasso's career?

April 19th, 1983, was significant in Richie Nasso's career because he executed the first program trade orders in the history of the New York Stock Exchange, involving 10 million shares.

What is Richie Nasso's educational background in finance?

Richie Nasso does not have a formal educational background in finance; he has a high school education and attributes his success to his gut feel and experience in trading.

What is Richie Nasso's advice for traders regarding managing emotions and psychology in trading?

Richie Nasso advises traders to stay centered and focused, to think like a criminal to avoid being swayed by emotions, and to understand the market makers' tactics to not be taken advantage of.

What trading strategy does Richie Nasso suggest for new traders in the stock market?

Richie Nasso suggests that new traders should study charts, technicals, emotions, and psychology, and emphasizes the importance of understanding algorithms' role in controlling the market.

What does Richie Nasso recommend for traders dealing with large orders and managing risk?

Richie Nasso recommends not putting all eggs in one basket and using a scaling system for entering trades to manage risk effectively, rather than relying on single entry trades.

How does Richie Nasso approach taking profits in his trades?

Richie Nasso likes to take 75% of his profits off the table while keeping the other 25% to let it run, using trailing stop orders to manage the remaining position.

What is Richie Nasso's view on day trading in the current market environment?

Richie Nasso believes that day trading is the way to be in the current volatile market environment, as it allows for capital to be kept moving and managed effectively.

What is Richie Nasso's final advice to traders watching the video?

Richie Nasso's final advice is to limit risk, put in the necessary work to prepare, and understand that trading is a marathon, not a sprint, with no get-rich-quick schemes.

Outlines

00:00

🚀 Introduction to Stock Market Algorithms and Trading with Richie Nasso

The video script opens with an introduction to the influence of algorithms on the stock market, suggesting a need for a criminal-like mindset to navigate its complexities. The speaker is positioned at the New York Stock Exchange, setting the stage for an interview with Richie Nasso, a 40-year veteran trader. The summary highlights the speaker's intent to explore Richie's background, his journey in the stock market, and the evolution of trading. It also previews the valuable insights on risk management, trading strategies, and trader psychology that Richie is expected to share.

05:01

🏆 Richie Nasso's Trading Experience and Market Control

This paragraph delves into Richie Nasso's illustrious trading career, emphasizing his rise from a $60-a-week runner to one of the most powerful traders on the New York Stock Exchange floor. It underscores his specialization in trading IBM, which once constituted a significant portion of the S&P 500. Richie's narrative includes his experience with the first program trade in NYSE history and his remarkable ability to manage large volumes of stock on behalf of major institutions. His educational background is revealed as being limited to high school, with his success attributed to a keen intuition developed through a life of gambling.

10:03

📈 The Discipline of Trading and the Role of Algorithms

The focus shifts to the rigorous routine and preparation necessary for success in trading. Richie Nasso discusses the importance of understanding order flow and the absence of shortcuts in the trading business. He reiterates the dominance of algorithms in controlling market movements, explaining how they create liquidity at premium and discount levels. The summary also touches on Richie's trading strategies, particularly his approach to buying against collapsing technical areas, which contrasts the common tendency to follow the market's trend.

15:04

💼 Personal Trading Strategies and Dealing with Market Volatility

Richie Nasso shares his current trading focus on the ES future market, highlighting the importance of liquidity and the impact of stock market movements on future markets. He discusses his personal trading methods, including his preference for trading in large volumes and his avoidance of small retail transactions. The paragraph also addresses the psychological aspect of trading, with Richie advising viewers to stay centered and to think like a criminal to outsmart market manipulations, particularly around stop orders.

20:05

🛠 Risk Management and the Art of Scaling Entries in Trading

This section emphasizes the critical role of risk management in trading, with Richie Nasso advocating for a personalized approach based on individual tolerance and market conditions. He warns against the dangers of single entry trades and suggests scaling into positions to manage risk effectively. Richie also talks about his profit-taking strategy, which involves securing a portion of profits while allowing the remainder to ride the market's momentum, using trailing stop orders to lock in gains without missing out on potential upside.

🌐 Final Thoughts on Trading, Investing, and the Importance of Preparation

In the concluding paragraph, Richie Nasso reinforces the message of limiting risk and exposure, urging traders to invest time in preparation and study. He likens trading to a marathon rather than a sprint, dismissing the idea of get-rich-quick schemes. Richie's final advice is to approach the market methodically, with an understanding that success comes from consistent effort and learning from experienced traders.

Keywords

💡Algorithms

In the context of the video, 'algorithms' refer to the systematic mathematical processes or set of rules used by computers to perform tasks, including the execution of trades in the stock market. The video emphasizes that algorithms, not human traders, are the primary controllers of the market movements. An example from the script is when Richie Nasso explains that the market's premium and discount levels are areas where algorithms create liquidity and volatility.

💡Stock Market

The 'stock market' is the central theme of the video, representing the venue where shares of publicly traded companies are issued and traded. It is where traders and investors come to buy and sell securities. Richie Nasso shares his experiences and insights as a veteran trader on the New York Stock Exchange, highlighting the evolution of trading from a physical floor to an algorithm-driven digital landscape.

💡Risk Management

Risk management is a critical concept in trading, which involves the identification, evaluation, and control of potential risks to minimize or eliminate any negative impacts on investments. Richie Nasso emphasizes the importance of understanding one's risk tolerance and managing it effectively, as it is key to preventing significant financial losses in the volatile stock market.

💡Trading Strategies

Trading strategies are specific approaches or plans traders use to decide when to buy or sell assets. The video discusses various strategies, including entries and exits, which are crucial for managing trades effectively. Nasso's advice on trading against the grain and buying against technical breakdowns exemplifies the kind of strategies he recommends for success in the market.

💡Technical Analysis

Technical analysis is the study of historical market data, primarily price and volume, to predict future market trends. It is a key component of a trader's toolkit, as illustrated in the video where Richie Nasso talks about watching the technicals on the big board and using them to make informed trading decisions.

💡Psychology

Trader psychology refers to the emotional and cognitive processes that influence trading decisions. The video stresses the importance of maintaining emotional stability and discipline in trading, as emotions can often lead to poor decision-making. Nasso advises thinking like a 'criminal' to outsmart the market's emotional manipulations.

💡Floor Broker

A 'floor broker' is a professional who executes orders on a stock exchange trading floor. Richie Nasso shares his experience as a floor broker, providing insights into the role's responsibilities and the evolution of trading from a physical exchange to an electronically dominated market.

💡Stop Orders

A 'stop order' is a type of order that is designed to limit an investor's loss on a position. In the video, Richie Nasso reveals that one of the most successful trading strategies is to participate against stop orders, as they often lead to significant market movements when triggered.

💡Day Trading

Day trading is the practice of buying and selling financial instruments within the same trading day. The video suggests that day trading can be a viable strategy in the current market environment, with Richie Nasso advocating for it as a way to manage risk and capitalize on market volatility.

💡Liquidity

Liquidity in the context of the stock market refers to the ease with which assets can be bought or sold without affecting their price. Nasso discusses how algorithms create liquidity at premium and discount levels, which is essential for facilitating smooth trading activities.

💡Volatility

Volatility is a measure of the rate and magnitude of price changes in the stock market. The video highlights the role of algorithms in creating volatility, which can present both risks and opportunities for traders. Nasso's trading experiences and strategies often revolve around navigating and exploiting market volatility.

💡Futures Market

The futures market is a financial marketplace where participants can buy and sell standardized contracts to buy or sell an asset at a predetermined price at a specified time in the future. Richie Nasso mentions trading the ES (E-mini S&P 500) futures, emphasizing its liquidity and the importance of the futures market in reflecting and affecting the stock market.

Highlights

Algorithms control the stock market, not institutional players or hedge funds.

Richie Nasso, a 40-year veteran trader, shares his experience on the New York Stock Exchange floor.

Nasso's trading career started as a runner making $60 a week and evolved into being a powerful trader.

He traded IBM, which accounted for 19.78% of the S&P 500, a significant market influence.

Nasso executed the first program trade in NYSE history involving 10 million shares.

His educational background is high school with no formal finance education, emphasizing the importance of gut feel and adaptability.

Nasso's routine involved early mornings, connecting with European clients, and studying market conditions worldwide.

He emphasizes the importance of preparation, with no shortcuts in trading.

Nasso recommends studying charts, technicals, emotions, and psychology for success in trading.

Market makers do see order flow and stop losses, and they use this information to their advantage.

Participating against stop orders can be a successful trading strategy.

Nasso's personal trading now focuses on the ES future market for its liquidity and relevance to stock market movements.

Emotional control is crucial; Nasso suggests thinking like a criminal to stay ahead of emotional trading traps.

Risk management is key, with no set parameters as it's relative to individual tolerance and market conditions.

Avoid single entry trades; instead, use a scaling system to manage risk and average entry points.

Nasso advises taking 75% of profits early and trailing the rest with stop orders for potential further gains.

Day trading is Nasso's recommended approach in the current volatile market, favoring active management over buy-and-hold strategies.

He warns against get-rich-quick schemes and emphasizes the importance of methodical preparation and study.

Transcripts

the first thing you really need to know

and understand is that the

algorithms control the stock market the

algorithms think you have to think like

a criminal is that H the stock market

works okay please tell well I'm not

saying everybody's a criminal don't get

me in trouble but what I am and I'll

give you a real secret about this place

down here in the day okay one of the

most successful trades out of any trade

that has ever taken place in this

building I am here at a New York Stock

Exchange today right here on the balcony

today I'm going to visit a 40-year

veteran trader who used to work on the

floor of the New York Stock Exchange

over the last few decades this Trader

has worked at several major Financial

organizations and witness the evolution

of trading join me today to meet Richie

nasso in this video you're going to

learn how he got into the New York Stock

Exchange his background and career

through the evolution of trading his

experience working here at a New York

Stock Exchange Pro tips about risk

management trading strategies including

entries and exits for Traders today and

even more tips about risk management

Trader psychology and discipline so

please join me today and make sure to

smash the like button and that's

[Music]

go what's up Traders I'm here in the New

York Stock Exchange with Richie nasso

hey Richie how are you today wonderful

Shay thank you so much for having me

thank you if you could tell audience

briefly uh what kind of Trader are you

and what did you used to do here on the

New York Stock Exchange oh my God uh I

mean coming back here brings out

memories that you can't even imagine uh

I walked into this building as a as a

runner uh making $60 a week and uh got

myself into an area where I will humbly

say uh I was one of the most powerful

Traders down here I started my business

trading One stock and that was IBM IBM

just one stock One stock in the

beginning and to put that in perspective

uh IBM was

19.78% of the S&P 500 yeah today's

biggest component is Apple at

4.78% so my customers uh we controlled

from One customer yeah who happened to

be Stevie Cohen the owner of the Mets

from one customer I built that up to 30%

of the volume a day and the most

important stock emotionally and every

other way that you can imagine and the

trading experience from that yeah is

incredible and how many years were you

working on the floor here well I mean I

started on the floor and I I'm almost

embarrassed to say this in

1965 making $60 a week you know and so I

spent I was here to 2,000 okay and uh

you know in between that I started two

broker dealers open up an office in

London open up an office in Switzerland

and C to in I did not have a retail

client and C to the largest institutions

in the world and what was the largest

order you executed in one day oh my god

well I executed the first program trade

orders in the history of the New York

Stock Exchange and there was uh 10

million shares involved in that oh wow

at April 19th 1983 if you want to put

that in perspective wow okay uh you know

I had 5 million shares of every S&P name

to buy Market on close and of course the

other side of the trade added up to

almost 10 million shares oh and what

what what's your education background

did you have any former education in um

in finance I guess no I was just a kid

that grew up in a very tough

neighborhood in New York City and uh had

a you know gambled on anything my whole

life basically so my my background is

high school I graduated high school and

and that's it that's the end of my

background my gut feel yeah and how my

how my being took to the gambling aspect

of this place was extremely important

yeah to be able to be

ambidextrous and have 10 or 20 orders in

my hand at every different level um

really played out very very well for me

as crazy and as basic basic as it may s

it was extremely important for what I

developed yeah tell us a little bit

about what your routine was like working

as a floor broker here I uh when I had

my European offices I started I I left

my home at like 6:00 a.m. in the morning

came here uh got went to my office I had

an office right now right across the

street and started reaching out to my

European clients and and do it what what

what business owners do with their

clients and then you know studied a

financial study what's going on study

what's going on around the world yeah I

mean this is a business where you have

to prepare it doesn't really matter what

level you're at folks from a retail

Trader there are no shortcuts in this

business you have to learn and you have

to put in a time to learn or else you

know it is a too difficult of a

situation and too difficult to beat this

market and then what do you do after the

open till close you know what I do is

concentrate on the order flow I was is

entrusted with millions of shares of

stock at my discretion from the likes of

Vanguard to the likes of the IBM company

itself for their corporate repurchase

order and so I would watch the

technicals on the big board that's

displayed right there that's the only

thing we had no Bloomberg machines no

nothing you didn't have the Bloomberg

terminal back then no no okay Bloomberg

I we nobody knew what Bloomberg was

except a very rich person for Traders

watching this video right now now if

they want to eventually do what you did

as a floor broker here on the New York

Stock Exchange what do you recommend

them to do what study like how should

they work to get here I mean you know

there's not one factor involved in

learning this business okay you you you

know you need to study charts you need

to know technicals uh you need to know

emotions you need to know

psychology I mean uh and you the first

thing you really need to know and

understand is that the

algorithms control the stock market the

algorithms not the big institutional

players not the huge hedge funds not

anybody it's the algorithms that control

the market what do I mean by that well

it's very very simple you have premium

in a market on a day-to-day basis

premium level and you have discount

levels and if the market is moving up

towards a premium level yeah the

algorithms are going to go to that area

oh I see to create liquidity okay

conversely speaking if the market is

coming down and the direction is lower

the algorithms are going to go they're

going to go to that discount area and

they're going to create liquidity oh and

they're going to create volatility to

get the fractions moving you know some

of the biggest trades are failed

breakdowns I hope I'm not getting too

technical oh that's okay some of the big

some of the big viewers need to learn

this some of the biggest trades that I

make is buying against technical areas

that are collapsing yeah that's when you

should be buying and everybody else

they're pushing out of the marketplace

sorry you my Lamborghini how dare you I

touched on Lamborghini I'm sorry you got

to be against the grain in the stock

market today okay you you don't want to

short a failed breakdown in a technical

area you know want to buy a break out in

a technical area you want to do the

opposite in those particular areas I

mean that may be too technical I'm sorry

if it is but that to me if you

understand if you hear what I'm saying

and think about what I'm saying it will

help you down the line dramatically

thanks for sharing so much tips a lot of

technicals with our um audience watching

this so how does that relate to how you

are personally trading today are you

using more technicals and what kind of

asset classes are you Trading nowadays

yeah I mean I trade the es future Market

only I I've traded uh billions seriously

billions of shares of stock I I I just

don't see the value in buying 500 shares

of Microsoft at

$330 a share to try to make 50 cents

that's not what I do that's not the way

I think this Market should be navigated

I mean I have different accounts but I I

I don't trade some accounts I just have

you know income stuff in and blah blah

blah but I trade the es future Market on

a day-to-day basis only I RAR have

positions going out at night sometimes I

do depending oh okay last night I did

okay last night I did I was I told you

earlier I was long S&P micro contracts 5

of them only because of the huge sell

off yesterday yeah and you know I get up

this morning got dressed to come here

and meet you and before I did I hit sale

sold I see up 11 and A4 handle

it was a quick 250 bucks and that's it I

paid for my trip in by car okay but

anyway I trade the future Market only I

think it's a place to be especially for

younger younger not younger so to speak

but traders who are starting out and

trying to learn this business uh the es

future Market be becomes incredibly

liquid uh uh you know you can trade the

the main contract the mini contract it's

called for

$225,000 a contract yeah or you can

trade the micro contract for about 45

50,000 a contract and air liquid or the

NASDAQ futures which a little bit Wilder

uh or the ym which is a little bit

Wilder but the future markets provide

liquidity and nothing can happen in the

stock market without affecting the

future markets and how do you help the

Traders you trade with whether it's

futures or any asset class how would you

recommend traders to deal with

psychology and managing their emotions

yeah

uh emotions are a whole deal you need to

stay centered stay centered you know uh

if you get yourself in trouble and

everybody does and whether you're long

and it's you're getting killed or

whether you're short and you're getting

killed whatever it is yeah you can get

yourself out of it you can get yourself

out of it but if you're not focused if

you're not centered yeah it's going to

be very difficult think you have to

think like a criminal a criminal is that

how the stock market works okay please

tell I'm not saying everybody a criminal

don't get me in trouble but what I am

but what I am saying is you have to

think like a criminal okay because if

you think like a criminal the emotions

will not get the best of you if you can

figure out what they're trying to do to

make you emotional I see all right what

they're trying to do to make you

emotional all right you're going to be

way ahead of the game so I have a

question for you so there's um there's a

lot of saying online retail Traders

saying that oh the market makers you

know are there they see your order flow

they see uh your stop losses and they

they intentionally take you out and then

swipe the swipe it back up is that true

or not 100% okay 100% And that's part of

the thinking you does anybody know

whether that's the case no but can you

see the reaction from these levels and

know that is true yes and I'll give you

a real secret about this place down here

in the day okay one of the most

successful trades out of any trade that

has ever taken place in this building is

when stop orders are touched off people

are protecting themselves they don't

want to lose money where is the biggest

most successful trade I would venture in

this place over the years is when you

participate against stop orders so if

the stop orders are touched off and they

have to sell down you want to buy that

every time or if the or if the stop

orders are on the way

you want toell that time you want to be

on the

other so what you just said

is what you just said it's 100% accurate

and sometimes in our proprietary charts

yeah it will touch it off and we have a

certain sound associated with it and

when it ERS St T got taken out and when

you hear

that close your eyes and buy them or

close your eyes and sell them oh okay

that's a secret strategy right there

yeah it I'm telling you that's

proprietary stuff where is it based on

folks it's based on what I learned here

as a kid that's where it's B based on

this is a real uh Wall Street and New

York Stock Exchange uh experience here

and uh this is enough these are like

some really really juicy tips um okay so

any other tips that you have for Traders

watching this how should they get

started let's say they're a brand new

Trader they're navigating the markets

today how what kind of tips do you have

for them yeah have to be able to manage

your risk okay you really have to be

able to manage your risk so people ask

me all the time well how do you manage

risk what are your

parameters there are no parameters it's

relative to the situation the market is

is a chameleon it changes colors by the

second so there is no way but

everybody's tolerance is different

everybody's Market uh bank account or or

Market or um investment account is

different and so it's all relative to

what your tolerance is and you need to

know you need to know your personality I

see every Trader that's starting out

needs to understand their personality

cuz it's going to come through and it's

going to be the difference between you

winning or losing when you're risking

your own capital I see kind of

understand what their own risk tolerance

is like right let's say I can only take

$100 risk I should trade differently

than someone who risk like 10,000 that's

it exactly and and I'll say something

something else okay don't put all your

eggs in one basket on a particular trade

yeah single entry trades will kill you

oh okay because if you're trading think

about that let me just say it again

single entry trades will kill you is cuz

everybody buy a low for the day and feel

comfortable no so you have to have a

little more ammunition if you're too

early on the trade to bring your average

down

I see okay you okay single entry trades

will hurt you every time so it sounds

like you're recommending our traders to

have use a entry system where they scale

into Trad slowly to build a decent

average let say around the level you

were looking at absolutely yeah so my

level this morning I don't know where it

is right now my level this morning was

uh

4366 it broke that level oh okay it

broke that level but let's just say and

I'm looking at it in hindsight now folks

I put these signals out there last night

so you know but

4366 so let's just say as an example of

what we're talking about you buy 4366

wonderful it's a it's a very major

technical support area in the market

okay but now wait a minute um I'm a

little early okay there some other

people selling and they're knocking it

down number two I will not not average

down down a handle or two okay you got

to spread it out so you bring your price

you bring your point you bring your

price down you can't bring your price

down if you're trading a future Market

or anything by a small amount you got to

spread out where your second entry is or

else you use the first entry and play it

out the way it is I see but don't Bunch

together the second entry okay if you're

early this is the same way with taking

profit as well you know taking profits

what I like to do is I'm right yeah I

would like to put 75% of my profit in

okay I like to take 75% of my profit off

oh okay you scale out off and and I like

to keep the other 25% and let it run up

oh so you Trail it on the way I I Trail

it and then I I follow it with stop

orders and at the end of the day if I'm

right and this is running and it keep

and it's running and I'm feeling real

good I lock in money I make these trades

riskless if I'm right riskless I see

yeah so like if if it does go higher you

make even more money and it doesn't you

have a stop so you don't lose money I

don't lose money and I I could lock in

two or three handles I can lock in an

amount of money again it's according to

you know everybody's perseverance uh you

know maybe maybe they got killed

yesterday and they want to make some

money and put it in a bank you know I

mean it's everybody's different with

that okay but there's certain rules of

money management that you need to adhere

to and you need to have a tolerance for

how much money you're willing to risk on

a trade yeah and that's important so if

you're willing to risk $250 on a trade

fine then protect yourself down $250 but

you need to know this before you make

your initial bet I see because if you

don't sometimes if you don't give it

enough room if you don't give the trade

enough room to develop you know you

could be wrong and right at the same

time I see well like it can you can get

take out you're wrong and then the trade

ends up working your favor exactly your

favor so it's very important to identify

those areas that make you comfortable

but it again you need to give the trader

uh some time to develop some sometimes

you can't just be SC afraid out of it

let's take a step back um I know we

talked a lot about trading what's your

opinion on investing should people

watching this what brand new should they

start with trading or investing what's

your thoughts yeah well look I mean I've

been on both sides of the fence as as I

mentioned i' I've traded literally

billions and billions of shares billions

yeah and right now I think the way to be

and I know people think oh day Traders

day Traders I don't believe that at all

right you know my company is named

lpq limited exposure prevent blowups

which is the one thing every Master

Trader will tell you if you can prevent

blowups you're way ahead of the game

that's why I developed this country this

company I'm a firm believer that day

trading can be conquered I see it I do I

do it every day my partners and I do it

every day my subscribers are off the

charts happy because of the plan we put

in place so I'm saying to you this

Market is very volatile and to try to

learn on the fly with this kind of

action going on and volatility it's very

difficult listen this could change but

as of now and from in a foreseeable

future day trading this Market is the

way to be and that's my opinion so you

you don't believe in uh Buy and Hold or

like long-term

investing I mean you know dividend

paying stocks obviously I'm an owner of

IBM acting very very well the yield is

almost 5% why would they want to buy the

stock market if you can get 5% for

nothing when they and when they're

making you crazy those are some of the

things that I look at I'm saying what do

I want to buy this for what do I want to

buy that for what do I want to buy up

this kind of capital I want to keep the

capital moving and I think that day

trading this Market is the way to do it

in the environment that we're in Richie

do you have any me final messages or

tips for our viewers watching this right

now yeah I mean limit limit your risk

limitate your exposure put in your work

you have to put in your work the putting

in the work prepares you and gives you

the confidence level that you need to to

Really tackle this Market every day so

it it it is not a it is not a Sprint

this is not a Sprint if you want to roll

in this market it's a marathon and you

should be conscious of the fact that

it's methodical don't think that there's

any you know uh getrich quick schemes

here in the stock market it's not but a

lot of young people coming in uh you

know word them M everybody's got

something to say oh I made this oh I

made that you don't know what they made

okay you really don't know but I tell

you that you need to be prepared and you

need to study and there are a lot of

ways you could do it okay but don't

think you're going to come in here and

get rich quick doing do doing this

because they'll chop you up they'll take

you money for sure and and they'll and

Shay you she know that better than most

they'll take you money humbled after all

yeah thank you very much Richie my

pleasure thank you so much I appreciate

it and uh good luck to all you folks out

there thank you for the thank you for

this if you want to see even more of my

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