We are in a business that buys fear and sell to the greed. We need to understand the the pressure on an institutional fund manager is so intense that it shapes the entire stock market, the short term perspective happens because the fund managers don't want to lose their job. That's the huge advantage of us who manage our own money. We can wait, we can sit in cash when we cannot find companies to put that cash into, we can see things in the long run. If we could find wonderful companies at great price, we don't care what the market's doing. It doesn't matter what the market's doing. Managing portfolio is right back to the Rule One basics. It comes down to the simplest kinds of things that require a great deal of discipline. And those things are simply to make sure that you are really understand the business, that it has a protective moat that protects it from competition. And that the management is honest. If you've got those things, you should be able to put a reasonable price on this business. You're not going to get it perfect, but you get a reasonable price. And when you get a reasonable price, you discount it dramatically and buy it at a margin of safety. This is not the kind of investing where a high IQ beats a lower IQ or an average IQ. And this week we're all happy to see why the word "discipline" comes in here. Because it requires discipline. Strictly follow our rule to remain emotionally confident, that's the only way to make money in the long run and have a peace of mind. :)

Do we set up an Australian account and use AUD, do we convert USD to send to this, or do we set up a US IBKR account and send USD?

Hi team — Last Sunday we had to move quickly through the options section because there was a lot to cover. I do believe mindset and the big picture matter most for long-term success — after all, we’re here to make serious money over time 🙂 If you feel a bit confused about options, that’s completely normal! :) It takes time and practice, and it’s absolutely worth it — you’ll soon see how powerful this tool is. In Session 2, we’ll go straight into options. We’ll review the core concepts and recap the ROP and ROC strategies, take your questions; then move on to additional strategies — especially ROCT, which makes up about 70% of my trades. As long as your account and funds are ready, you should be able to start making money in the market right after Session 2. Please make sure you’re ready: (1) Join the live session at 4:25pm on Sunday, Feb 8. We start sharp at 4:30pm. Plan for about 2.5 hours — I will try to make this one more interactive. :) (2) Check the Telegram channel regularly and catch up on any previous messages you missed. My posts are meant to be directly useful — I don’t post meaningless things. (3) Review contents of session 1. Post your questions in the Skool community or the Telegram chat group. (4) Broker & funding: Open and fund your account. Make sure your options permission level is 3 or higher. (5) Charting tool — TOS: Open a TOS account and download the Thinkorswim desktop app. Get Excited for Session 2, Wendy

1. Open your IBKR account using my referral link. It will be a US account, so you’ll need to convert your funds to USD before depositing. https://ibkr.com/referral/wenyi422 2. Fill in your personal info to open the account, better to open a "margin" account (account type: trading), instead of "cash" account (account type: investment). 3.provide details about your income, net worth, and investing experience. We need option level 3 permission, please refer to the attached screenshots — I think they should be sufficient. (pic 1 and 2) 4.Apply for option permission: 1️⃣ Open the IBKR website → log in to your account 2️⃣ Go to the Client Portal (account dashboard) 3️⃣ Click your profile icon in the top right corner → select "Settings" ->"Trading permission" -> "Request Option" (see picture 3-5) 5. How to funding Your Account: Once your account is ready, you’ll need to fund it with USD. Steps: IBKR website -> login to your account -> Transfer & Pay -> Transfer Funds -> Deposit Funds Then follow the instructions; (pic 6) Based on different currency selections, there are different methods to fund your account. (pic 7). For example, if you're using AUD, then you can transfer from WISE balance or even BPAY; If you need to convert your currency to USD, I recommend to use CurrencyFair. It’s the cheapest way I’ve found, and once you set it up, it’s super easy. My referal link：https://www.currencyfair.com/rafland/?channel=R7JA81 Let's Rock and Roll! Wendy