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The Math Behind Profitable Trading — Transcript

by Rayner Teo · 4,611 words · 719 segments · language en · Watch on YouTube

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0:00Hey, hey, what's up, my friend? So, do
0:03you know there there is a legendary
0:05trader called Dan Zanger who
0:09achieved a 29,233%
0:13return over a 1-year period trading
0:16chart patterns.
0:17And you also have this guy called Andrea
0:21Unger who won the World Cup of Trading
0:24four times using algorithms.
0:27And finally,
0:29a market wizard called Ed Seykota who
0:32took $5,000 and turned it into 16
0:35million as a trend follower.
0:38These are three different traders with
0:41different strategies, personalities, and
0:44approaches towards the market.
0:47But they all understood one thing that
0:4995% of traders never figure out.
0:52It's this. It's not a secret indicator.
0:54It's not some magic candlestick pattern,
0:56and it's not discipline.
0:58It is this, the math behind profitable
1:02trading.
1:03And once you understand this math,
1:06you'll see why a trading system with a
1:0840% winning rate can absolutely crush
1:12a system with an 80% winning rate.
1:14Right? No, I haven't lost my mind. I
1:16just lost my hair. The mind is still
1:18intact. So, you ready? Then let's get
1:20started. Let me ask you, if I give you a
1:23trading system that has a 80% winning
1:26rate, meaning you win 80% of the time,
1:29will you trade it?
1:31Well, many traders would say, "Hell yes,
1:33Rayner. Give me that system. Take my
1:34money. Take my wife." Well, okay. Maybe
1:37not my wife, but you get the idea. So,
1:39but what if I tell you that this same
1:41system could still
1:43cause you to lose money in the long run.
1:45How is that possible?
1:47Because your winning rate is only half
1:51the story.
1:52And this is where most traders get it
1:54wrong. So, what I'm about to share with
1:56you is the single most important number
2:00in your trading.
2:01Your expectancy.
2:03So, let me explain to you how this
2:05works.
2:06So, your expectancy can be defined using
2:09this formula over here, right? Don't
2:11don't be alarmed. I'll explain it to you
2:13step by step so that, you know, even a
2:1410-year-old can understand. So,
2:16expectancy, the formula is defined by
2:18your winning percentage multiplied by
2:20your average gain minus your losing
2:23percentage multiplied by your average
2:25loss. So, your winning percentage
2:27refers to, you know, how often you win.
2:29So, if out of 10 trades you take, you
2:32have six winners, four losers, it means
2:34that you have a 60% winning rate, yeah?
2:37And losing percentage is just how often
2:39you lose, and in this case you have a
2:4040% losing rate since you lost four
2:43times out of 10.
2:44Now, what about your average profit? How
2:46do you define the average size of your
2:49profit?
2:50Again, let's say after 10 trades you
2:52made $1,000 after 10 trades. So, this
2:55means that your average profit per trade
2:57is $1,000 divided by 10 because you took
2:5910 trades. So, average profit is $100,
3:02yeah? So, it is just the same for your
3:05average loss. So, now let me walk you
3:07through a couple of examples so you can
3:09see this concept in action.
3:11So, the first example, let's say you
3:14have a trading system that has a 80%
3:17winning rate.
3:18Your average gain per trade is $10.
3:22And your losing rate is 20%.
3:24And your average loss is $100. So, what
3:27is your expectancy?
3:30So, if you plug in the formula, your
3:32expectancy is
3:34You can see your 80% over here is 0.8
3:36multiplied by 10, which is your average
3:38gain over here, minus 0.2, which is your
3:41losing rate from this figure here, and
3:44your average loss is $100, and then you
3:46plug in over here. And what you realize
3:48is that your expectancy is minus $12.
3:52So,
3:53what does this negative $12 mean?
3:57This means that you can expect to lose
3:59an average of $12 per trade.
4:03And if you take 100 trades, you would be
4:07roughly down about $1,200 after 100
4:10trades. So, as you can see, even though
4:13you win 80% of the time, the few losses
4:16that you take, they're so devastating
4:18that they actually wiped out all your
4:20profits and more.
4:22So, it's like being an amazing cook, an
4:24amazing chef, you know, who
4:26occasionally, you know, burns down the
4:28entire house. Sure, you know, eight out
4:29of 10 times you cook
4:31amazing, good-tasting, delicious food.
4:34But the other two times you need to call
4:35on the fire department to put out the
4:37fire in your house.
4:38As you can tell, having a positive
4:40expectancy, having an edge in the
4:41markets is so, so, so important. So,
4:43this is why I actually wrote this book
4:46called Trading Systems That Work. You
4:48can grab a copy for the link in the
4:50description or go down to
4:51tradingsystemsbook.com
4:53and grab a copy. So, over here
4:56you will learn not one, not two, but
4:57three proven trading systems that work.
5:00You will learn in this case a mean
5:01reversion system here. You'll learn a
5:03trend-following system and a breakout
5:05trading system. I'll give you the exact
5:07trading rules along with the back-tested
5:09data so you can actually verify these
5:11findings on your own and don't take my
5:12word for it. And when you grab a copy of
5:15this book today, you also get a number
5:16of bonuses like the TradingView setup,
5:18brokerage account setup, risk management
5:20training, a community, private
5:22community, and a trading systems cheat
5:24sheet. So, all this comes along for free
5:26when you grab a copy of this book called
5:28Trading Systems That Work. So, if you're
5:29interested, I'll put the link somewhere
5:30below this video and you can grab a
5:32copy. Now, you might be thinking, "Oh,
5:35Rayner, if I just find a trading system
5:37with the 80 90% winning rate and a
5:40favorable risk to reward where I risk a
5:42dollar and make back $3 or more, I'll be
5:44rich."
5:46Sorry to burst your bubble.
5:48That's like wanting a six-pack abs while
5:51eating anything you want.
5:53It doesn't exist because there is always
5:55a
5:56trade-off.
5:57Let me give you a real-world example,
5:58okay? So, a mean reversion trading
6:01system, they typically have a high
6:02winning rate, you know, 60 plus percent,
6:04sometimes even 70 percent, but a poor
6:07risk to reward. That's because a mean
6:09reversion trading system, it looks to
6:10buy stocks when it's oversold.
6:14And then sell when it makes
6:16a bounce higher. And usually the bounces
6:18are quite small. So, this type of
6:20trading system typically have a high
6:21winning rate, 60 plus 70% winning rate,
6:24but the average profit is smaller than
6:28the average loss. Why is that? That's
6:30because you're taking quick profits on
6:32the bounce.
6:33But when a stock doesn't bounce, it can
6:35keep falling
6:37and falling
6:38and falling. All right, just like my
6:39hairline, right? Started receding at 30,
6:42all right? 10 years later, it's still
6:43going down lower. So, in other words,
6:45you have a high winning rate, but a poor
6:47risk to reward ratio. Let me give you an
6:50example. For example, this is one of the
6:52mean reversion trading system that I've
6:54developed, and you can see that this
6:55system has a positive expectancy in the
6:57long run. You can see that.
6:59From 2000, right? To now, right? The
7:01equity curve is heading up in the right
7:03direction over time. Although, of
7:05course, you know, there's some bumps
7:06along the way, right? Like pullbacks,
7:08drawdowns along the way. And you can see
7:10that for this particular system, the
7:11winning rate is 66%. Can you see it?
7:16In the long run, it's about 66%. And if
7:18you look at the average profit
7:19percentage, it's about 4.1%.
7:22And the average loss percentage is 4.7,
7:25close to 4.8%. So, in other words, all
7:27right, your average loss is
7:30slightly bigger than your average
7:31profit. And again, as explained earlier,
7:33because sometimes when you buy a stock,
7:35it doesn't bounce, and it continue to,
7:36you know, hit down lower and lower over
7:38time.
7:39On the other hand, you have trend
7:41following, a type of trading system that
7:43looks to ride trends in the market.
7:46The winning rate for trend following is
7:48usually low, between 35 to 45% and
7:51you're wrong more often than you're
7:53right. It can feel like, you know,
7:54you're constantly getting punched by the
7:56market. All right, on Monday you lose,
7:58Tuesday you lose, Wednesday you lose,
8:00Thursday you check your account and your
8:01software ask you if you're okay. Even
8:03the software feels sorry for you.
8:06But when you do catch a trend, okay, the
8:08payoff is massive. Right? Your average
8:11profit will easily dwarf your average
8:13loss. One good trend following trade can
8:15pay off for multiple losses that you've
8:17incurred earlier. So, kind of similar to
8:19the fishing analogy that I shared with
8:21you earlier.
8:22So, in other words, a trend following
8:24system has a low winning rate but a
8:26favorable risk to reward ratio. Let me
8:28give you an example.
8:30So, this over here is a trend following
8:32system that I've developed and you can
8:34see again, this system has a positive
8:35expectancy in the long run. The equity
8:37curve is sloping up higher over time.
8:39And what I want to bring your attention
8:41to is over here.
8:44Average winning rate is about 45%
8:46in this case.
8:48And you can see that the average profit
8:49percentage for this is about 188%
8:52and your average loss percentage is 99
8:56percent, right? Don't don't don't get
8:57freaked out by the numbers up because
8:58with proper risk management and position
8:59sizing, you're not going to lose 100% of
9:01your account on each trade. But this is
9:03just the way the
9:05numbers are being reflected when we run
9:06the back test for the system. So, you
9:08can see over here, right? The message
9:10is clear. For this system, you have a
9:1345% winning rate but your gains are
9:16almost twice the size of your losses.
9:20So, this is why
9:21as a trend follower, you may not win
9:24often but when you win, you win big.
9:27So, here's the deal. You can't have both
9:29a high winning rate and a favorable risk
9:32to reward. There's always a trade-off.
9:35It's like marriage, you know, you can't
9:36have someone who is always right or you
9:39can have
9:40peace. Ask me how I know about it.
9:43You can't have both, right? Don't tell
9:45my wife I said that.
9:46This is why traders struggle, you know,
9:48they expect to win 80 90% of the time
9:50with an average of a 1:3, 1:4, 1:5 risk
9:52to reward ratio. It It doesn't exist.
9:55So, at this point, you've understood
9:57what is expectancy and why it's so
10:00important to have a profitable trading
10:01system. But still, it is not enough if
10:04you want to be a consistently profitable
10:06trader because you also need
10:08risk management, baby. So, risk
10:12management protects your downside no
10:14matter what happens, even if you have
10:1610 20 losing trades in a row,
10:19risk management is what helps you
10:21survive so you can live to fight another
10:23day because without it, even a
10:26profitable trading system, even a
10:28trading system that has a positive
10:30expectancy,
10:31will still fail. Let me give you an
10:34example. So, imagine this. Imagine there
10:37are two traders, John and Sally.
10:39And let's say they both have a $10,000
10:41trading account.
10:43They have a trading system that has a
10:4450% winning rate and an average of a 1:3
10:48risk reward ratio. This means if they
10:50risk uh
10:51a $1,000 on a trade, a 1:3 risk reward
10:54ratio means you'll get back $3,000 on
10:57your winning trades. So, you can see
10:58that clearly this trading system has an
11:00edge, right? You have a positive
11:01expectancy because your average gains is
11:04bigger than your average loss.
11:06And let's say John, you know, is the
11:08type of trader that is aggressive, you
11:10know, he he watches too many YouTube
11:12videos of guys standing in front of
11:14their rented Lamborghinis and telling
11:16you that fortune favors the bold, yeah?
11:19So, that's John. He risks $5,000 per
11:22trade. And then you have Sally, who is
11:24more conservative, risking $100 per
11:27trade.
11:28And then the next
11:3010 trades are as follows, okay? This uh
11:33is the outcome of the next 10 trades.
11:35So, you can see over here you have, you
11:36know, first few trades are lose, lose,
11:38lose, lose, lose, followed by wins.
11:40So, what is the outcome for both
11:42traders? So, if you look at first, let's
11:44look at John, shall we? Because
11:47John
11:48is the
11:49aggressive one. You can see that. First
11:51losing trade, he lose minus 5,000.
11:54Second losing trade, lose again minus
11:55another 5,000. And at this point, you
11:57can see that John has pretty much
12:00blown up, right? Because
12:02minus five, minus five, negative
12:04$10,000. And he start with $10,000,
12:06nothing left after two trades.
12:08On the other hand, let's say you have
12:09Sally.
12:11You can see that Sally risk $100 per
12:13trade, and the first five trades are
12:15losers, right? This five trades are
12:17losing trades. So, total for Sally,
12:18first five trades minus $500.
12:21And because
12:22she has proper risk management, she
12:25managed to survive and see better days
12:27ahead. And the next five trades are
12:29winning trades. And as you know,
12:32she gets an average of a one to three
12:33risk reward ratio. This means on
12:35average, her winning trades are three
12:37times the size of her losses. So, in
12:39total, she'll achieve about a positive
12:421,500 for
12:44her five trades, right? Each trade is
12:45about $300, 300, 300, 300, 300. So, net,
12:49right? Sally, you can see she's actually
12:51up $1,000
12:53after
12:5510 trades, whereas John has blown up
12:57over here.
12:59So, this is actually about a 10% gain
13:01for Sally.
13:02So,
13:04can you see how important this is? You
13:05can see that risk management is what
13:08will protect your downside, right? So,
13:09you can let the positive expectancy of
13:11your trading play out over time.
13:14So, how do you actually apply sound risk
13:16management so that you don't blow up
13:17your account like John? Well, this is
13:19where you need to use a technique called
13:22proper position sizing.
13:25So, this refers to buying the right
13:27number of shares according to your risk
13:29management. So, let me teach you this
13:31very useful technique.
13:33Especially if you trade stocks, right?
13:34So, the first step is this. Number one,
13:36you must define the amount to risk,
13:39usually 1 to 2% of your capital. So, let
13:41me say for example, let's say you have a
13:44$20,000 trading capital.
13:46And if you want to risk 1% of your
13:48account, this means 1% of $20,000 is
13:51$200. This means you want to
13:55buy the optimal number of shares such
13:58that if the trade hits your stop loss,
14:00you will lose not more than $200 per
14:02trade. So, this is the first step first
14:04step, right? To define the amount dollar
14:07amount to risk, which is usually 1 to 2%
14:09of your capital. So, another example,
14:11let's say you have, you know, $100,000.
14:13And if you're risking 2% of 100k, this
14:15means you can
14:17afford to lose up to $2,000 per trade.
14:20Step two.
14:22You then need to
14:24You then need to take the dollar amount
14:26that you want to risk divide by your
14:28entry minus your stop loss. So,
14:31So, let me give you a quick example. So,
14:33entry refers to the entry price you're
14:34entering the trade. Stop loss refers to
14:37the level that you want to exit your
14:38trade to cut your loss and move on.
14:40And this dollar amount to risk is pretty
14:42much defined over here in step one. So,
14:44let me give you an example so you can
14:45see how this works.
14:47So, let's say for example, you have a
14:48$100,000 trading account. You want to
14:51risk 1% of your capital on each trade.
14:53So, in other words, you want to risk
14:56and lose not more than $1,000 on the
14:58trade because 1% of $100,000 is $1,000.
15:02Let's say your entry price, you know, to
15:04place the trade is at $100. Maybe you
15:06want to buy a breakout at $100. And your
15:08stop loss is at $90. So, now the
15:10question is, how many shares should you
15:12buy? So, this is where again, step one,
15:15define the dollar amount to risk. So,
15:17just take 1%
15:18of $100,000 and you get
15:21$1,000. Step two,
15:24position size the formula is equal to
15:26the dollar amount that you want to risk,
15:27which is a thousand dollars over here,
15:29divided by your entry price minus your
15:31stop loss. And in this case, you get 100
15:34shares. Okay, so just plug in the
15:36formula, 1,000
15:38divided by 100 minus 90. 100 is from
15:41your entry price, 90 is from your stop
15:43loss, and you can
15:44get 100 shares. So, this means you can
15:46buy 100 shares of this stock
15:50at the at the price of $100. And if you
15:53were to hit your stop loss at $90, guess
15:55what? You will lose, right? About $1,000
15:58on this trade, which is the risk that
16:00you have defined at the start.
16:02Now, let me give you a another example
16:04so I can explain a key concept.
16:08Example two, right? Again, let's say you
16:09have a hundred thousand dollars trading
16:11account. You want to risk 1% of your
16:13capital.
16:14Entry price is 100 bucks, and this time
16:16around your stop loss is wider. Your
16:19stop loss now is at $80. How many shares
16:22can you buy?
16:23So, once again, plug in the formula,
16:25define the dollar amount to risk, which
16:26is a thousand dollars.
16:28Step two, your position size is defined
16:31by the amount to risk divided by your
16:33entry minus stop loss. And in this case,
16:35you realize that you can buy a total of
16:3850 shares.
16:40Okay, so do you see how how this works?
16:44If you recall earlier, you can buy 100
16:46shares because
16:48your stop loss level was at $90.
16:52See the difference?
16:54$90 stop loss, entry price is the same,
16:56and you can buy 100 shares.
16:58And in the second example, you can buy
17:0150 shares because this time around your
17:03stop loss got wider. Instead of 90
17:06bucks, now it's at $80. So, the message
17:08that I'm trying to bring across here is
17:10this, is that your position size depends
17:12on the size of your stop loss, whether
17:15how tight or how wide it is.
17:18A tighter stop loss means you can buy
17:20more shares, and a wider stops means you
17:22can buy fewer shares. And either way,
17:25the dollar amount you risk stays the
17:28same.
17:29Now, a mistake that many traders make is
17:31they have a habit of buying the same
17:34number of shares regardless of
17:38the stocks that they are trading. So,
17:40what I mean by this is that, you know,
17:42let's say they have a habit of always
17:43buying, you know, 100 shares. But, as
17:45you know, if you buy 100 shares for a
17:47stock like McDonald's versus 100 shares
17:50for a stock like Nvidia, you can see
17:52that your
17:54risk
17:56is not going to be constant because for
17:58Nvidia, buying 100 shares, the stock is
18:00more volatile. Usually, you would have a
18:02wider stop loss to take into account
18:04that volatility. And by using a wider
18:05stop loss and still buying that same 100
18:07shares, you could potentially lose more
18:09money compared to a more
18:12lower volatility stock like McDonald's,
18:14where you won't have such a huge stop
18:16loss. So, by using that fixed 100 shares
18:18across all the different stocks that
18:20you're trading, regardless of time frame
18:21and stuff like that, what's going to
18:22happen is that you realize that
18:24sometimes when you are wrong, your
18:26losses can far exceed your
18:28winners. Yeah? And there will also be
18:30times where sometimes when you are
18:31right, then you realize, "Why is my
18:32profit so so small?" Yeah? Because,
18:35again, position sizing. You need to
18:37adjust it according to the size of your
18:39stop loss, and your size of your stop
18:41loss is, you know, influenced by the
18:43volatility of the stock that you're
18:45trading.
18:46So, now, at this point, you've learned
18:47what is expectancy,
18:49risk management, and proper position
18:51sizing.
18:52So, however, I can tell you that, you
18:54know, after a few losses, many traders,
18:56they will start to doubt the trading
18:58system. They will second-guess their
18:59trades, and, you know, eventually
19:01abandon the trading system, right? I've
19:03been there myself. And why is that?
19:06That's because
19:08in the short run, your trading results
19:11is actually random. Let me explain. Now,
19:14imagine you toss a coin, right? A normal
19:18legit coin, right? Whether it's a dollar
19:20or 50 cents, doesn't matter. I'm sure
19:22you can agree that there is a 50% chance
19:24that coin will either come up head
19:27or tail, right? Duh.
19:29Now, let me ask you. If you toss the
19:31coin 10 times, okay? Just, you know, do
19:33it 10 times.
19:34Are you guaranteed to get five heads and
19:37five tails?
19:39Think about this. Think about this. I'll
19:41give you 5 seconds.
19:421 2 3 4 5, okay?
19:45And the answer is no. Of course not. You
19:47could get, you know, four head, six
19:49tails. You could could get three heads,
19:51seven tails,
19:53you know, and whatnot.
19:55So, you won't definitely get five heads
19:57and five tails. And
19:59why? Why is that so?
20:01And the reason is simple.
20:03It's because
20:05you didn't toss the coin
20:07enough.
20:08The frequency of your coin toss isn't
20:10So, let me give you an example so you
20:12know what I mean.
20:14So, after tossing a coin 10 times, you
20:16could get, you know, four heads and six
20:17tails. We call this a 40% hit rate, not
20:20a winning rate because, you know, it's
20:21not it's not trading or investing. So,
20:22we call this a 40% hit rate.
20:25And now, what happens if you now toss
20:27the coin 100 times? How would your hit
20:29rate change? Well, after 100 times, you
20:31probably will get something like
20:3345 heads and 55 tails, and that's about
20:36a 45%
20:38hit rate, right? With reference to the
20:40the number of times you get hit, right?
20:42So, just you take 45
20:44divide by the number of times you toss
20:46the coin, you get 45%.
20:49And what if you now toss the coin 1,000
20:52times? How will your hit rate change?
20:56Well, in this case, you get something
20:57like, you know, possibly 480 heads and
21:00520 tails, a 48% hit rate.
21:04And do you do you do you see the
21:06pattern?
21:07Right? Do you see the pattern? You can
21:09see that the more time you flip the
21:10coin, the closer you get to that 50%
21:14probability. And this is a very
21:16important
21:17concept. This is a concept that we call
21:21the law of large number.
21:23Now, the law of large number applies to
21:25anything that deals with probabilities,
21:27whether you're tossing a coin, whether
21:29you're investing, whether you're
21:31trading.
21:32And this is a concept where
21:35in the short run, your results, your
21:37trading results is actually random.
21:39And it's only in the long run, it'll
21:41align towards your trading system's
21:43expectancy.
21:45So, the message that I want to bring
21:47over here is that don't abandon your
21:48trading system system, especially if you
21:50know that it's a proven trading system
21:51backed by data. Don't abandon it after a
21:53few losses. Because the outcome is is
21:56random. You can have a trading system
21:57with a 70% winning rate, but maybe you
22:00take 10 trades, you could have
22:01experienced
22:03six losses and four winners, and you
22:04think it's only a 40% winning rate. But
22:06no, it's because you didn't execute
22:09enough trades for your trading system
22:12expectancy to play out. So, don't
22:13abandon the the system after a few
22:15losses. You need time. You need to give
22:17your trading system time
22:19for its edge to play out. You with me?
22:22Do you agree? Right?
22:24Smash the thumbs up button and hit
22:25subscribe, right, if you do.
22:27At this point, you have learned quite a
22:29few mathematical concepts and
22:31techniques. So, let me share with you a
22:34recap Give you a quick recap of what
22:36we've covered today.
22:37First, we talked about the expectancy.
22:39What is expectancy and the formula
22:40behind it? So, as you've learned, right,
22:42your winning rate, your risk-to-reward
22:44ratio on its own, these metrics are, you
22:46know, they are
22:47useless. It doesn't give you the full
22:49picture. What you need to know is the
22:51expectancy, whether your system has a
22:53positive expectancy or not. And that
22:55formula is defined by this: your winning
22:57percentage multiplied by your average
22:59gain minus your losing percentage
23:00multiplied by your average loss. And if
23:02you have a positive expectancy, it means
23:04that you have an edge in the markets and
23:06you're going to make money in the long
23:07run when you have a trading system that
23:09gives you a positive expectancy.
23:12Then you've learned that having
23:13expectancy is one thing, but it's not
23:15enough because you also need sound risk
23:17management to protect your downside so
23:18you can leave to fight another day, so
23:21you can survive the drawdown. Yeah? And
23:24the way we manage our risk is through
23:26proper position sizing and I explained
23:28to you the formula, the math behind it.
23:31Step one is to define the dollar amount
23:33to risk, usually about 1 to 2% of your
23:35trading capital. Once you've done that,
23:37then you need to calculate your position
23:39size using this formula over here, which
23:42is the dollar amount that you want to
23:43risk divided by your entry minus your
23:45stop loss. And you've learned that
23:47usually when you have a wider stop loss,
23:49you would
23:50have a smaller position size. And if
23:52your stop loss is tighter,
23:54you would have a larger position size.
23:57And finally, we've also talked about the
23:59law of large numbers. Right? This is
24:01important because in the short run your
24:03trading results
24:04is random, right? And in the in the long
24:06run you're aligned towards your trading
24:07system expectancy. So don't abandon your
24:10system, you know, just because of a few
24:11losing trades because you are then, you
24:13know, kind of like giving up too early.
24:15Yeah? So
24:18this is a quick recap. And for those of
24:20you who are wondering, "Noraina, you
24:21know, how do I then, you know, get, you
24:23know, trading systems that work? How do
24:24I know that my trading system actually
24:26has an edge in the market?" Well, if you
24:28feel that way, then I've written a book
24:30over here called Trading Systems That
24:32Work. I'll put the link somewhere below
24:33this video so you can grab a copy or
24:35just go down to Trading Systems
24:37Book.com. And this book, you'll learn
24:40not one, not two, but three proven
24:41trading systems that work. They're all
24:43backed by data so you can actually
24:45verify it on your own. And
24:48here's the deal, right? You know,
24:50I'm going to, you know, make this
24:51risk-free for you. You can, you know,
24:53grab a copy of this book and read it and
24:56if you don't get value out of it, right?
24:57You know, just feel free to drop us an
24:59email, right?
25:00Within the first 180 days and we'll
25:02happily refund you in full and you can
25:03still, you know, keep the book, right?
25:05Just as our way of, you know, saying
25:06thank you, right? For being supportive
25:08of our work over the years. So, I'll put
25:09the link somewhere somewhere below this
25:11video so you can grab a copy and with
25:12that said, I wish you good luck, good
25:14trading. I'll be talking to you soon.

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