Trade More Than Twice a Week and You’ll Go Broke

**Rashad Bilal** (0:00)
I'm going to be very honest, I had a bunch of amazing conversations, amazing dinner with the Red Panda Millionaires last night.
You won't make hundreds of thousands of dollars or millions of dollars by over trading and anybody who's taken more than five trades a week, you're going to be broke. I had a chance to talk to a lot of traders.
Troy, I had a chance to talk to Kev before you all took off. The thing that I'm seeing from a lot of people in Red Panda, there's one correlation that I see from everyone who is making a hundred thousand in a month or quarter from trading, and some of them have made millions as a result. They all take one or two trades a week. I don't care how much you love trading. At some point, you have to have a cutoff time. And for me, I can see if you're not trading from 830 to 930 and then stopping and then trading the last hour of the close, if you're trading at 1115 or 1245, whatever lie you tell, I know you're lying. You're not making a lot of money because you're giving it away. Have a separate laptop to be able to watch the market on. Like on my Apple laptop, I don't have Ninja Trader. I have it on my desktop at home and on my black trading computer. On the laptop I'm on now, I can just watch the market and I can place investments.
The biggest mistake that people are making is being in the market too much with their account open. You need one to two trades a week, otherwise you deserve to be broke. And don't argue with me saying that, oh, I disagree because when you go look at that P&L over a quarter or a year to year, you're negative, less is more. But you can do what you want. I choose to be rich. Back in my ghost five, back to you Troy and Rashad.

**Troy Millings** (1:47)
Choose to be rich. We are going to...

**SPEAKER_3** (1:50)
Mike, I'm gonna switch my mic off, just bring us back in.

**Troy Millings** (1:54)
Because apparently we're not on the audio. Let's see, let's just see. Ian.

**Rashad Bilal** (2:01)
Now it's time to be devious. Swing trading typically. No, but all jokes aside, if you are over trading, figure out a way to hit your goal by taking one to two trades a week and then stopping at four months or five months. You don't need to trade 12 months out of the year. I think it's a mistake. You end up getting burned out. If you trade 12 months in a row, figure out how to hit your goal by trading one to two times a week for four or five months and then having a season off where you end up stopping.

**SPEAKER_3** (2:33)
Hey, man, how we doing now? We sound better now?

**Troy Millings** (2:35)
How's it sound?

**Rashad Bilal** (2:38)
Okay, now we back. I'm saying I brought out the soup for nothing though.

**SPEAKER_3** (2:43)
No, we didn't go out like that. You know what I'm saying?
So it was y'all. This time, it was us. You know what?

**Rashad Bilal** (2:50)
The theme of the last month, everything's y'all fault.

**SPEAKER_3** (2:53)
You know, but guess what?

**Rashad Bilal** (2:54)
We made the traffic bad, the airport bad. You brought all the people to Atlanta, shot to the city of Atlanta. I love you.

**SPEAKER_3** (3:00)
Somebody walked up to me and said, you know what my code is? There's a solution for all of it. And there's always a solution for all of it. So we back. We back. I'm gonna give my trading tip real quick, and then we'll move on to the next thing, man. All right. So and this is important. And I like what you said about not trading in certain settings. Right. You said you got a specific computer. I don't like trading on my phone. I feel like I'm more effective when I got my setup.
I'll do it every now and then. But if I had a preference, it would be with my MacBook, with my screen, going through all the research before I make that decision. So I like that you said that. There's a lot of people like, oh, shout out to our team. We got some guys who are involved in some short term trading. And so they're like, I'm in the car.
Shout out to the bro. But I like to probably be in the setting of my home in front of my computer where I'm supposed to be focused. But mine is this, man, time doesn't eliminate risks, but investing is one of the best ways to survive.