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14-ICT Mentorship Core Content - Month 2 - The Secrets To Selecting High Reward Setups

Last modified by Drunk Monkey on 2022-09-02 11:06
1 00:00:41,190 --> 00:00:50,670 ICT: Okay, folks, welcome to the sixth teaching, oh ma two of the ICT mentorship, where we specifically dealing with the secrets to high reward
2 00:00:50,730 --> 00:01:03,900 trading setups. Now, some of you may have already went through my trading plan development series. It was a long video series added a lot of information. It
3 00:01:03,900 --> 00:01:12,330 was really aimed for those individuals that have never really had exposure to the marketplace. Give them ideas on what direction to go and what to focus on
4 00:01:12,330 --> 00:01:24,180 primarily. And while it is a great deal of information for a neophyte, it is necessary to go through those things. Because it has to give you well not it
5 00:01:24,180 --> 00:01:33,450 doesn't have to, but when you're first starting out, it's important that you have a mentor or you have a framework or foundation to build upon to give your
6 00:01:33,870 --> 00:01:45,270 your trading career a direction. One of the most reoccurring themes in my role as a mentor is new. Where do I begin? What should I do first? Where should I be
7 00:01:45,270 --> 00:01:56,160 focusing my attention at? Now? What should I be studying? Okay. And while the Trading Plan Development Series is still good, it's still valuable, in my
8 00:01:56,160 --> 00:02:06,750 opinion, not because I've made it, but because it's, again, it's useful. Some of you and majority of you actually are actually really exposed to my content and
9 00:02:06,750 --> 00:02:23,910 my material as it relates to trading specifically to foreign exchange. But I think that if, if one were to look at what I actually do on a day by day basis,
10 00:02:24,300 --> 00:02:34,530 what is the procedure? What are the things that I do to elect a specific stance on the marketplace? What makes me bullish what makes me bearish? Why do I focus
11 00:02:34,530 --> 00:02:47,010 on one currency pair over another, all those things are decisions and processes. And while we will have specifics in relationship to how I arrive at individual
12 00:02:48,600 --> 00:03:02,430 specific views, or decision points as relates to how everything fits together on in my decision process, it's important that we start with kind of like a micro
13 00:03:02,430 --> 00:03:12,480 version of the trading plan development series in this teaching. So this is, while it's not going to be comprehensive as the trade plan development series
14 00:03:13,710 --> 00:03:25,800 was, this one's going to be a little bit more specific, it's gonna be more salient to the things that I do as a specific forex trader, I don't look at all
15 00:03:25,800 --> 00:03:38,670 the things that the champion Development Series view course spoke about. They do occasionally come up in my thought processes, but they're not all required to
16 00:03:38,670 --> 00:03:46,980 come to a trade decision. Okay, so we're gonna go through a lot of the things that I believe that if you've been exposed to at least all my free tutorials,
17 00:03:47,310 --> 00:03:59,430 we're gonna be able to get down to a little bit more process and decision based parameters in this teaching. Now, it's important also, that we go into this with
18 00:03:59,430 --> 00:04:08,370 the proper mindset. Okay, I don't want anybody thinking, we're going into trade signals. We're not talking about trading patterns. We're not talking about stop
19 00:04:08,370 --> 00:04:20,010 loss placement or or trade management, none of those things are important here. This is the last primer for us before we start going into the the specifics of
20 00:04:20,310 --> 00:04:22,020 breaking down individual decisions.
21 00:04:23,310 --> 00:04:34,230 Each process, which, as a collective whole, as we'll discuss in this teaching, will, you'll see that that's how the ICT mindset is, you know, what we do on a
22 00:04:34,230 --> 00:04:42,810 day by day basis? What frames our opinion about certain things and when do we change those opinions? And when do we move to the sidelines, all those things
23 00:04:43,020 --> 00:04:54,720 come by way of process thinking. Okay, and it's important that you understand that while entry signals and and stop placement and patterns in order blocks and
24 00:04:54,750 --> 00:05:05,820 order flow and all of the ICT jargon and things that get really a Exciting, there's got to be a little bit of dry information presented to you. And it's
25 00:05:05,820 --> 00:05:14,280 important. So I don't want you to look at this video and go through it and walk away with well, you know, this isn't really teaching me anything, it really is
26 00:05:14,280 --> 00:05:25,650 teaching you, it's going to teach you how number one to think in terms of foundations, because we have to understand where we're building on to elect a
27 00:05:25,680 --> 00:05:34,230 decision relative to whether we're going to be a buyer or seller or whether we're gonna stay on the sidelines. Okay, because that's the real secret to
28 00:05:34,230 --> 00:05:46,620 trading, understanding what makes the process arrive at a decision. Okay, what is the process? What, what are the components that help you arrive at whether
29 00:05:46,620 --> 00:05:54,900 you should be a trader, buying or selling or staying on the sidelines? And what asset class should you be trading and what specific pair are going to be dealing
30 00:05:55,200 --> 00:06:04,560 with foreign exchange as we are in this teaching, all those things will be a little bit more clear, a lot more clear, I should say, by having the thought
31 00:06:04,560 --> 00:06:16,320 processes that I'm going to introduce here. Now, obviously, there has to be a specific order. Okay, there's got to be in the hierarchy to what it is that we
32 00:06:16,320 --> 00:06:29,490 do as a trader, what makes our decisions? Incremental, what do we do first? What do we focus on first. And obviously, I've been a strong supporter of the notion
33 00:06:29,490 --> 00:06:37,500 that every trader needs to have patience, obviously. And you after patients, then we have to understand when you obviously what defines trade environments,
34 00:06:37,740 --> 00:06:50,370 you know, are the environments conducive for trading right now, that's a topic that obviously goes largely on taught by majority of everyone that's teaching
35 00:06:50,370 --> 00:07:01,170 and has courses or whatever they do, in terms of teaching the populace. And I do a lot of work with that in this mentorship. And it's going to be a lot more
36 00:07:01,830 --> 00:07:09,480 spread across the entire mentorship. So I don't really have one specific teaching to talks about when you shouldn't trade, there's going to be a lot of
37 00:07:09,480 --> 00:07:18,660 things that you'll come by experience, and learning that define those environments. Okay, the next stage is obviously to determine a trade parameter,
38 00:07:18,690 --> 00:07:29,670 you know, what makes your trading you know, a buy or sell what gives you those notions to even take action. Obviously, it's not simply, you know, well, it's
39 00:07:29,670 --> 00:07:36,120 been going up for less 60 minutes, so I'm going to buy or it's going to be going lower because of an interest rate announcement, I believe that's going to
40 00:07:36,120 --> 00:07:46,320 happen. So therefore, I'm going to trade on that it has to be very defined, okay, it has to be specific, it has to be a binary, you do this, or you don't do
41 00:07:46,320 --> 00:08:00,090 this, okay? do X or do Y, okay, it has to be a very black or white decision process. If you don't have your trading plan, or your perspective or process in
42 00:08:00,090 --> 00:08:11,670 determining whether you want to be a trader buying or selling right now, we're staying on sidelines, it will create a huge vacuum, where lots of emotional,
43 00:08:11,730 --> 00:08:22,320 psychological, and impulsive trading will creep in. And if you don't have these binary thought processes, and where you're specifically dealing with in terms of
44 00:08:22,350 --> 00:08:33,360 decision making, you won't have any structure. And without structure without having a refined, clear trading model, what defines your trading, what makes
45 00:08:33,360 --> 00:08:40,530 your trading model uniquely yours, you're going to struggle, and it doesn't matter who teaches you doesn't matter what principle of discipline you trade
46 00:08:40,530 --> 00:08:52,200 with, it's going to be an impossible endeavor, if you do not become highly organized. So the athlete after a long period of time spending in front of
47 00:08:52,200 --> 00:08:59,910 charts and, and work with individuals and myself as a as a trader, because I'm always a student, I'm always learning something about myself as a trader, not so
48 00:08:59,910 --> 00:09:11,340 much about the market anymore. And I don't mean to sound arrogant, but most of my learning comes by way of my individual experience as a trader. And you're
49 00:09:11,340 --> 00:09:21,900 learned, that actually helps you refine your, your trade parameters. And next, obviously, you need to know what makes your executable criteria what it is, what
50 00:09:21,900 --> 00:09:24,210 makes you be the buyer or the seller
51 00:09:24,240 --> 00:09:34,050 and, you know, having those those parameters defined. It's not just simply I'm bullish right now, you okay, well, if you're bullish, what would you do to be a
52 00:09:34,050 --> 00:09:44,160 buyer? And what would make that buying scenario negated? What would what would change the tone in the marketplace for you to either move to the sidelines? Or
53 00:09:44,790 --> 00:09:53,550 if you have a stoploss hit? Do you still consider that being a buying condition? You know, these things have to be specific, they have to be highly refined. It's
54 00:09:53,550 --> 00:10:01,500 got to be like a flowchart format. It's got to you have to go from one step to the next. And if it's not like that again, You're going to be very emotional,
55 00:10:01,530 --> 00:10:11,370 you're going to be very psychologically influenced by the things that you see in the price action and worse, by online media, forums, Twitter, Facebook, people
56 00:10:11,370 --> 00:10:19,050 talking to you, and you're at work and your friends that knew me, you know, their traders, all those things are going to be influential to you. And it's
57 00:10:19,050 --> 00:10:29,280 gonna be detrimental to your performance as a trader. So we don't care what anybody else's opinion is, we don't care about what their opinion of our trading
58 00:10:29,280 --> 00:10:37,320 model is, in fact, we're not really trying to share our trading models, anybody. It's a unique trading plan and trading model for you, okay, and you're going to
59 00:10:37,320 --> 00:10:45,900 define that refinement to yourself. And that's going to be your graduation, when you know exactly what's going to be framing your trading model. And you'll have
60 00:10:45,900 --> 00:10:55,380 a lot of help along the way through the remaining months of this mentorship, but they have to be defined by you, I can't force you to be a day trader, I can't
61 00:10:55,380 --> 00:11:03,750 force you to be a short term trader, I can't force you to be a swing trader, you'll know which one that is for you, by the end of this mentorship. And then
62 00:11:03,750 --> 00:11:13,200 more importantly, you have to understand why the trade should pan out and understand what makes the trade viable. Okay, it's not so simply, I see a
63 00:11:13,200 --> 00:11:21,960 trading pattern here, or I believe I'm bullish, or I believe I'm bearish in the marketplace, there has to be a real understanding of why that scenario should
64 00:11:21,960 --> 00:11:31,620 take place. And largely, this is going to come by experience. Okay. And obviously, that experience comes by taking action in a demo account. And when
65 00:11:31,620 --> 00:11:40,770 you do that experience should be logged and kept for future reference. That's the only way you're really going to learn, obviously, if you just go into a demo
66 00:11:40,770 --> 00:11:49,080 account, and you click on buy and sell, and you're just waiting to see the outcome. And you want to attribute the winning trades as you're a good trader.
67 00:11:49,260 --> 00:11:56,340 And with the losing trades, well, that really didn't happen. So therefore, it doesn't make a difference to me. That doesn't help you as a developing trader.
68 00:11:56,910 --> 00:12:07,170 So the real secrets to finding high reward trade setups, is the number one you have to know what it is specifically you're looking for and where to find that
69 00:12:07,170 --> 00:12:18,480 information. So before we get into all those things, I want you to understand that it's crucial to understand that efficiency and trading comes by way of
70 00:12:18,480 --> 00:12:30,030 process oriented thinking. It doesn't come by way of reactionary or impulsive thinking, which also leads to rushing ahead and trade signals prematurely. I can
71 00:12:30,030 --> 00:12:41,250 tell you, if we were all going to sit over top my email box and look at some of the things that I got in by way of feedback. It's the reoccurring thing is I
72 00:12:41,250 --> 00:12:52,500 want to see trades, I want to see entries I want to see. Get me in and get me out that type of perspective. And I understand that I get that, okay. But I can
73 00:12:52,500 --> 00:13:00,330 tell you being from where you are right now and where I am now in my understanding as a trader, I can tell you, that's not what you need to know
74 00:13:00,330 --> 00:13:10,020 right now. And it doesn't feel good to hear that it feels like I'm leading you down the primrose lane. It feels like I'm just deferring something that you
75 00:13:10,020 --> 00:13:22,500 think you need to have right now. And that's not true. What it is, is you have to develop a process oriented thinking. And that means I can show you order
76 00:13:22,500 --> 00:13:34,740 blocks, you know, I can show you breakers, I can show you institutional order flow, returning back to a mitigation block. Okay, I can show you examples of
77 00:13:34,740 --> 00:13:46,140 that. But until you understand the process behind why these things should be doing what they're going to do. It's going to be really, of no help to you. It's
78 00:13:46,140 --> 00:13:55,500 going to feel like I'm demonstrating toys, it's going to feel like I'm showing you what this is what I can do. And that's not what this is all about. It's to
79 00:13:55,500 --> 00:13:57,060 show you with an intimate
80 00:13:58,710 --> 00:14:08,670 experience on a day by day basis, a weekly basis a teaching tutorial basis, a theme generalized over the month. Okay, that builds on your total understanding.
81 00:14:09,780 --> 00:14:18,420 The folks that are struggling right now are the folks that are really trying to be reactionary or they're impulsively thinking about what they want to do right
82 00:14:18,420 --> 00:14:27,210 now. And that's the hardest thing for traders to do. When they first get involved with learning. They have this insatiable desire, they have to be
83 00:14:27,210 --> 00:14:37,410 trading right now. They want to get in, they want to take signals. Okay. And I spent the entire first month September on a day by day basis showing you that
84 00:14:37,410 --> 00:14:46,050 there are a plethora of trading signals all the time we were laser guided precision. There's no reason for you to be feeling rushed and October didn't
85 00:14:46,050 --> 00:14:55,560 change. Okay, that wait price has been delivered. None of these concepts fell out of fad. Okay, it still works. But I needed to do show you the first month
86 00:14:55,590 --> 00:15:03,930 that there's nothing that's going to hinder your ability to find signals because there's always a lot of them. The problem is going to be is this a you don't
87 00:15:03,930 --> 00:15:15,450 know what defines the setups for you as a trader, and you're not going to have a process oriented thinking, that leads you to high reward trade setups. And it's,
88 00:15:15,810 --> 00:15:25,650 it comes by experience, it comes by showing you conceptual ideas, and a broad brush idea of breaking down what it is that we look for in the marketplace, and
89 00:15:25,650 --> 00:15:32,460 where does that information reside. So it's really important before we get into this, that this is important that you focus on the fact that what I'm showing
90 00:15:32,460 --> 00:15:42,030 you in this teaching wallet doesn't give you technicals. It doesn't give you trade scenarios. It doesn't give you specific getting get outside things. I'm
91 00:15:42,060 --> 00:15:52,080 I'm of the mindset that this is exactly what I needed to be told, when I first started as a trader, but no one was around to tell me these things. No one had
92 00:15:52,080 --> 00:16:02,970 the experience around me, or I had the the avenue of reaching them like you have with me, you have a very intimate relationship with me as a mentor, because I'm
93 00:16:02,970 --> 00:16:11,940 spending a great deal time. And I'm investing a lot of my time by way of my experience. And it takes a lot of time to communicate that because we're talking
94 00:16:11,940 --> 00:16:20,550 about someone that's been doing this for two decades or more. And there's a lot of lessons I learned. And there's a lot of lessons that I resisted initially.
95 00:16:20,910 --> 00:16:26,730 And some of those are the same things. I'm one of those individuals that are feeling it right now. And you know who you are, because right now you're
96 00:16:26,730 --> 00:16:34,470 squirming? You're wanting to get on, get on with it, get on with it, Michael, if you're feeling that you're in that reactionary impulse of thinking, Okay, you
97 00:16:34,470 --> 00:16:43,080 need to change that suppress that it's hard. I know, it's hard. But you're not going to get to high reward trading scenarios, okay, that you can find very
98 00:16:43,080 --> 00:16:51,300 quickly in the marketplace that you can find consistently efficiently. All those things are going to evade you because you're looking to do something right now.
99 00:16:51,630 --> 00:17:02,430 And professional traders are not in a rush to put money at work. They want to sit back and wait for a scenario. That makes sense. So if, if we were all in a
100 00:17:02,430 --> 00:17:14,160 room and everyone had a chance to ask me something, I can tell you. The number one reoccurring question, if we were all to write it down on a piece of paper
101 00:17:14,340 --> 00:17:24,930 ahead of time, not just broke vocally say it. That way, no one would knew basically repeat it, repeat it. The question would come by way of what makes me
102 00:17:24,930 --> 00:17:35,730 think this orderbox going to do what? Or what makes me think that this level is going to keep price from going higher? Or what why do I think the Judas swing
103 00:17:35,970 --> 00:17:44,430 should go up after midnight? And then sell off? What are all those things? And I understand why you're asking those questions. And they the same types of
104 00:17:44,430 --> 00:17:50,130 questions that I had about the marketplace. But again, I didn't have anybody to direct those questions to. But
105 00:17:51,270 --> 00:17:58,860 it's important that you understand that there's no way I can actually answer that question to you now. Because we haven't gone through all the things that
106 00:17:58,890 --> 00:18:09,300 are necessary for me to adequately answer that. It would, it's almost like I'm creating an additional language, on top of what you've already arrived at, by
107 00:18:09,300 --> 00:18:19,380 going through my free tutorials. In it, that's why I require 12 months with me, because it's going to basically beat it in your brains by hearing it over and
108 00:18:19,380 --> 00:18:29,730 over again, specifically dealing with it on a trade by trade basis, that daily involvement, the application of it. And that's going to be you know, the big
109 00:18:29,730 --> 00:18:40,080 takeaway, you're going to have experience, whereas if I just wrote a book, or if I made some DVDs or CDs, and you watch them, that will be it, it would be rather
110 00:18:40,080 --> 00:18:47,670 stilted, you would come away with Well, that's cool, I can see how it works sometimes, or I can see it how it works in the past. But you don't have the
111 00:18:47,670 --> 00:18:56,910 intimate relationship of sitting down and going through the process. And again, they explain why it should take place. We did some of that on a microscale in
112 00:18:56,910 --> 00:19:09,750 September. But we need to go through a process of outlining, you know what the beginning foundations are going to be because as we go into the fourth, fifth
113 00:19:09,750 --> 00:19:22,560 and sixth month, they're going to be greatly focused on the components that make up the trade templates. Okay, in other words, at the end of the mentorship,
114 00:19:22,560 --> 00:19:32,010 you're actually going to get a flowchart for when to be a buyer for swing trades, when to be a seller for swing trades, every specific decision point that
115 00:19:32,010 --> 00:19:41,370 goes through my head as a trader, and what tools you use for each decision point and what's the response that you should have? Everything that we use everything
116 00:19:41,370 --> 00:19:48,480 that I go through in my tools for short term trading, same way what makes me be a buyer what makes me be a seller? You know what makes the trade no longer good?
117 00:19:48,480 --> 00:19:57,870 Where's this my stop? When do I move my stop all those decisions that go through my new mind mental process, okay, because whatever everything I do is process
118 00:19:57,870 --> 00:20:08,310 oriented thinking and it comes across as well, you, you're just really good at this. And it's not that I'm good at it. It's just I'm experienced that and I
119 00:20:08,310 --> 00:20:20,100 know what decision I need to make right now. And sometimes it's sit on the sidelines. And because I've done it so long, that experience gives me reference
120 00:20:20,100 --> 00:20:29,220 to go to mentally and it only takes a few seconds sometimes to to arrive at where I think the markets gonna go based on these processes. Now, while it seems
121 00:20:29,250 --> 00:20:37,320 like it's a great deal of information, and I'm jawboning here, it's important that you really, really listen. So if you're, if this is one of those videos,
122 00:20:37,320 --> 00:20:46,140 because there's no charts here, you need to sit down and listen, don't be watching TV, don't you know, don't be having your kids in the sidelines. Okay,
123 00:20:46,140 --> 00:20:57,960 distracting you, you need to be paying attention to this one because it's important. Okay, so let's take a look at how we go about this using the tools
124 00:20:58,260 --> 00:21:08,250 and all the processes along lines of ICT related information. Obviously, again, we're not talking about the trade plan development series, okay. It's just like
125 00:21:08,250 --> 00:21:17,670 a microscale version of all that stuff. So we're going to go right into where the information is going to reside, and what you're going to be looking for, in
126 00:21:17,670 --> 00:21:27,660 these specific areas of study. Before we get into any high reward trading setup, we have to understand obviously, there's going to be a big picture perspective,
127 00:21:27,960 --> 00:21:38,280 okay. And when I say big picture perspective, it's primarily for areas of reference, it's going to be macro market analysis, it's going to be inter, I'm
128 00:21:38,280 --> 00:21:51,840 sorry, interest rate analysis, inter market analysis, and seasonal influences. Next, Next area study is going to be for an intermediate perspective. We're
129 00:21:51,840 --> 00:22:05,010 gonna be looking at top down analysis, co T data, which is commitment of traders, and market sentiment. And for our short term perspective, we're gonna
130 00:22:05,010 --> 00:22:12,210 be looking at correlation analysis, time and price theory, and EFTA, which is the interbank price delivery algorithm.
131 00:22:16,109 --> 00:22:25,649 Now, looking closer at the big picture perspective, we're going to take a look at what makes up our big picture perspective. Obviously, there's four areas of
132 00:22:25,649 --> 00:22:37,169 study. And again, my macro market analysis, interest rate analysis, inter market analysis, and seasonal influence is a little bit of a tongue twister folks, when
133 00:22:37,169 --> 00:22:49,139 we look at the big picture, perspective, okay, while there's four areas of study, we're going to need to primarily focus on at least two of these that have
134 00:22:49,139 --> 00:23:01,439 to come into agreement. Okay. What I mean by that is our macro analysis, our interest rate analysis, our Inter market analysis, and seasonal influences, all
135 00:23:01,439 --> 00:23:12,209 four these do not have to agree. Okay, but you do need to have two of these components to arrive at your big picture perspective. Okay. In other words, our
136 00:23:12,299 --> 00:23:22,799 our grand scheme of things, our, our, our big picture perspective, okay, is going to be defined by at least two of these areas of study, they have to come
137 00:23:22,799 --> 00:23:35,429 into agreement. It doesn't matter which of these four that you elect to subscribe to, but they have to come in an agreement. So let's take a look at a
138 00:23:35,429 --> 00:23:46,349 little bit more information about each one of these four. Okay, so again, focusing on the big picture perspective, the first thing we're going to be
139 00:23:46,349 --> 00:23:56,309 looking at is the macro market analysis. Now, this is really simply described as are we in an inflationary market? Are we in a deflationary market, when the
140 00:23:56,309 --> 00:24:05,819 markets or a currency or country is in a inflationary condition, it's going to have a direct relationship on the currency, obviously, when they're in a
141 00:24:05,819 --> 00:24:18,209 deflationary market condition that's going to have a relationship or a response to their currency. It also in terms of equities is going to have a direct
142 00:24:18,209 --> 00:24:28,889 relationship to that. So when we talk about commodities, and we talk about stock prices, later on in this mentorship, inflationary and deflationary market
143 00:24:28,889 --> 00:24:39,899 conditions are going to have a large impact on that as well. The next area is interest rate analysis. And obviously, when we're looking at interest rates, we
144 00:24:39,899 --> 00:24:47,219 have to consider are we looking at higher interest rates? Have we seen a trend in interest rates? Have they been climbing? Are we looking at lower interest
145 00:24:47,219 --> 00:24:59,999 rates? Have we just had rates decrease, or have we seen a trend in lower interest rates? Or do we have an unexpected change something come out with EFA
146 00:24:59,999 --> 00:25:10,649 I'm see that their currency coming out and intervene in their currency by having an unexpected interest rate change, did they hike interest rates or do they do
147 00:25:10,649 --> 00:25:22,199 an unexpected rate cut. And also, by looking at interest rates, which is not noted here, we look at differentials between two interest rate markets. So
148 00:25:22,229 --> 00:25:32,699 between currency that has a high interest rate and another currency that has a low interest rate, many times that creates what's called a carrying, carrying
149 00:25:32,699 --> 00:25:44,069 charge market, where you can actually have a very easy way of finding trades directional when it has that. But again, what we're looking at if we were just
150 00:25:44,069 --> 00:25:51,479 looking at these two primary areas of focus for the big picture perspective, we could have the macro market analysis. In other words, we could see an
151 00:25:51,479 --> 00:26:01,229 inflationary market and interest rates alignment with that perspective. And that would give us our big picture analysis and other words that would frame on the
152 00:26:01,229 --> 00:26:10,619 grand scale, are we a buyer or seller, and we want to focus primarily on that. The next area studies inter market analysis.
153 00:26:12,630 --> 00:26:21,030 And it's gonna come by way of the CRB Index, or we're focusing primarily on the commodity market. And we're looking at the relationship between the commodities
154 00:26:21,270 --> 00:26:32,190 and the US Dollar Index, you're gonna see many times, the markets between commodities and the dollar index are inversely related. In other words, if the
155 00:26:32,190 --> 00:26:40,080 dollar index is going up, usually commodity prices are going down. And when commodity prices are going up, usually the dollar is going higher, and vice
156 00:26:40,080 --> 00:26:51,120 versa. In other words, again, looking at these three areas of study, we need to have these areas of study to come to an agreement to arrive at our big picture
157 00:26:51,390 --> 00:27:05,310 perspective. Okay, we could see a interest rate market, indicating that there are lower rates on horizon or, or higher interest rates on the horizon. And
158 00:27:05,340 --> 00:27:17,640 that's going to lend well to a directional bias on a currency. And if we see that same time happening, where the commodity market wants to go higher, and the
159 00:27:17,640 --> 00:27:26,160 dollar index wants to go lower, that gives us a framework for a high reward chain scenario relative to the big picture. So the only thing we're doing now is
160 00:27:26,160 --> 00:27:36,240 framing three areas of study. Okay, and if I haven't said it already, what makes a high reward trade setup is if your big picture perspective, your intermediate
161 00:27:36,240 --> 00:27:43,170 perspective, and your short term perspective, is all in agreement. Okay? Directional wise, if you want to be a buyer or seller, relative to Dave's three
162 00:27:43,170 --> 00:27:51,480 perspectives on the marketplace. If those three are in alignment, when you trade on that side of the marketplace, that is high reward trading scenarios or
163 00:27:51,510 --> 00:28:02,280 setups. And the last of the four is seasonal influences. And that is obviously you speaking on terms of are we in a bullish seasonal tendency for that asset
164 00:28:02,280 --> 00:28:14,250 class or or pair or currency, or for the dollar for that matter, or commodities, if if we're studying commodities, there's a large seasonal influence that has an
165 00:28:14,250 --> 00:28:24,570 effect on commodities. And if we see that, obviously, there's going to be mirrored in what we see in the dollar index, okay? The CRB Index is entering a
166 00:28:24,570 --> 00:28:32,280 time when commodities as a whole usually go higher, that's going to put downward pressure on the dollar. So if there's gonna be downward pressure on the dollar,
167 00:28:32,610 --> 00:28:44,670 that means that we can see easy buy signals in currencies that have interest rates that are going higher, and that that chasing of yield, okay with the
168 00:28:44,670 --> 00:28:55,290 currency makes a high reward trade setup. And obviously, there's bearish seasonal tendencies as well. But when we go forward in the mentorship, we're
169 00:28:55,290 --> 00:29:04,350 actually gonna be breaking down what specifically frames a inflation, I'm sorry, inflationary market in a deflationary market, and how to go in and look at
170 00:29:04,350 --> 00:29:15,600 interest rates specifically, and how to use the interest rate market for timing. So it gives us a stage on when this criteria is in place, what we do with it,
171 00:29:15,630 --> 00:29:23,970 you know, what, when should we be buying or selling relative to the interest rate analysis that we see. And the same thing with inter market analysis and
172 00:29:23,970 --> 00:29:25,050 seasonal tendencies
173 00:29:31,680 --> 00:29:40,620 The next area of focus is obviously the intermediate perspective. And that is by way of looking at a top down analysis, commitment, traitors data and market
174 00:29:40,620 --> 00:29:49,200 sentiment. And for me perspective, there's only really three things that you're looking for. Okay, but at least two of these things have to come in an
175 00:29:49,200 --> 00:29:59,280 agreement. So that means by looking at these three specific components, okay, top down analysis is simply just looking at higher timeframes down to a lower
176 00:29:59,280 --> 00:30:07,740 timeframe. And CRT again, if you're not familiar what that is it's Commitment of Traders data. What we do is we look at the CFTC report that comes out every
177 00:30:07,740 --> 00:30:18,450 week. And it gives us a reportable level report on large commercial traders, large speculators, and obviously the small specks. We're not really so concerned
178 00:30:18,450 --> 00:30:28,440 about small specs, small specs will be somebody like ourselves, you know, we're trading in in on reportable levels in numbers, we don't trade at a level where
179 00:30:28,440 --> 00:30:42,990 we have to report our trade size, which is mandated by the CFTC, at least in the states it is. And market sentiment is simply I use market Vane, okay, which is a
180 00:30:43,290 --> 00:30:54,960 measure of brokerage firms actually calling around and getting a consensus on whether they believe a particular market is bullish or bearish. And it's
181 00:30:54,990 --> 00:31:06,300 basically it's an opinion, you can you can use other things like there's certain websites out there that have a bullish or bearish opinion. Like if you go to bar
182 00:31:06,300 --> 00:31:16,560 chart.com, and you pull up a specific commodity, you can actually see what the community at large in net Forum has for that particular view. I think there's
183 00:31:17,580 --> 00:31:27,210 pretty much just about every forum out there has a way of measuring sentiment. And I do a lot of research on Saturdays with that perspective alone. I go
184 00:31:27,210 --> 00:31:34,710 through a lot of resources and actually show you where I go and get all my sentiment numbers. But it's, again, this teaching is not going to teach you
185 00:31:34,740 --> 00:31:41,160 everything about every individual component. But the components that we're talking about specifically, we're laying down the foundation, because it's
186 00:31:41,160 --> 00:31:48,750 important that we know where our study is going to be focused going through this mentorship and why it's not a lot of information, but it's a little bit of
187 00:31:48,750 --> 00:31:57,300 homework that's needed for you didn't get to the decision making processes that I go through as a trader. So again, intermediate perspective, let's take a
188 00:31:57,330 --> 00:32:09,270 closer look at these three things. Okay, so intermediate perspective on the marketplace, framing, high reward trading scenarios or setups. Okay, top down
189 00:32:09,270 --> 00:32:17,220 analysis is obviously this going through a monthly chart, and we do more monthly chart analysis. And what specifically are we looking for in a monthly chart,
190 00:32:18,210 --> 00:32:24,900 obviously, without going into great detail, because I'm not trying to teach it all here, the monthly chart is we're looking at Key Levels, we're looking at
191 00:32:24,930 --> 00:32:40,140 intermediate and long term highs and lows, we're looking at specific order blocks, and we're looking at levels that show a clear indication of wanting to
192 00:32:40,140 --> 00:32:48,390 repel price higher or lower. And the same thing as said for the weekly chart. When we look at the weekly charts, we're looking at, again, a higher timeframe
193 00:32:48,390 --> 00:32:57,600 perspective. So it gives us a great deal framework for high reward trading scenarios simply because of the weekly chart being, again, a weekly chart, large
194 00:32:57,600 --> 00:33:08,100 funds, okay, large managed funds, do a great deal analysis on weekly charts, okay. Most of their work really comes by way of monthly and weekly, and they
195 00:33:08,100 --> 00:33:17,340 usually execute on daily charts. Okay, so it's important that that you understand that that's the reason why the markets move around like they do. Most
196 00:33:17,340 --> 00:33:27,330 folks that have YouTube channels and Facebook accounts and they're out there trying to pretend that they're some kind of analysis, or I'm sorry, analyst or,
197 00:33:27,570 --> 00:33:36,840 or teacher, they'll be teaching with a one minute chart or a five minute chart, and they lead individuals to believe that these intraday charts have some
198 00:33:36,840 --> 00:33:45,450 influence over price, and they don't do all they're doing is reflecting, okay, what is going to be arrived that by looking at a monthly, weekly and a daily
199 00:33:45,450 --> 00:33:55,320 chart, because those three timeframes are really what makes the markets move. By having these intermediate perspectives, okay, again, you have to have at least
200 00:33:55,740 --> 00:33:57,300 two of these
201 00:33:58,650 --> 00:34:08,340 areas of focus in agreement, so that you can have a an idea on a monthly chart that frames one of the two things that lead to your intermediate term
202 00:34:08,370 --> 00:34:16,710 perspective. Okay, and it could be obviously, it can be all for the weekly chart or could be the daily chart. Okay, but that would be one of the two that's
203 00:34:16,710 --> 00:34:25,200 necessary to frame your intermediate perspective. The next area of study would be a CT data. Okay, that's obviously looking at the bullish hedging by smart
204 00:34:25,200 --> 00:34:34,290 money or the commercial traders, or the bearish hedging by the smart money. And again, if you haven't watched any of my free tutorials, there's teachings on
205 00:34:34,290 --> 00:34:44,250 Commitment of Traders. It's important to know that you'll learn everything you need to know about co2 data in this mentorship. So even if you haven't watched
206 00:34:44,250 --> 00:34:52,440 the videos, okay, or are familiar with commitment of traders, just settle down, relax. Please don't send me a Twitter storm of questions or emails because
207 00:34:52,530 --> 00:34:59,760 everything I'm talking about here, I'm laying down a foundation. Okay, these are the things that you need to be starting to write down in your notebook because
208 00:34:59,790 --> 00:35:07,410 there Gonna be Aries in your notebook that you need to have specific notes relative to these things. Okay? And I will give you everything you need to know
209 00:35:07,440 --> 00:35:15,810 and more, trust me, but I'm just giving you the foundation of where our study is going forward. Okay, going into the mentorship. And obviously with the co2 data,
210 00:35:16,110 --> 00:35:25,200 we look at extreme levels historically in the last 12 months in the last four years, when the commercials on the commitment traders report get to a 12 month
211 00:35:25,200 --> 00:35:33,630 extreme, higher or low. In other words, if they haven't real extreme high reading or low reading, relative to the net sum zero line that that's used for
212 00:35:33,630 --> 00:35:43,980 the CBOT net traded position chart, which will learn all about that usually sometimes indicates a change in their hedging program. And it gives you a real
213 00:35:43,980 --> 00:35:52,410 clear indication of there's probably an intermediate term or long term high forming in the last is market sentiment, obviously, or we're looking at extreme
214 00:35:52,410 --> 00:36:00,210 market bullishness or extreme market bearishness. And again, that's one of the things that come by way of my Saturday studies, I go through all of the things
215 00:36:00,510 --> 00:36:11,520 that lead to my opinion, or my own individual market sentiment readings, based on a number of areas, I go and look for readings, and then I get an average of
216 00:36:11,520 --> 00:36:19,020 that reading and come away with a consensus whether or not we're either at a bullish or bearish sentiment. Now, again, out of these three, you need to have
217 00:36:19,020 --> 00:36:29,040 at least two of them in agreement, the least the of significance is obvious the market sentiment. But the main thing is the top down analysis, you have to have
218 00:36:29,040 --> 00:36:39,780 a level or an idea relative to the monthly, the weekly or the daily, it does not require to have those timeframes, it just needs one. Okay, you can trade really
219 00:36:39,810 --> 00:36:50,790 without the monthly, weekly and daily chart and trade on a idea relative to the commitment of traders and sentiment. Now think about that. You're probably
220 00:36:50,790 --> 00:36:57,120 thinking, Wait a minute, Michael, when you say we gotta use a daily chart, we got us a weekly chart, we gotta use a monthly chart. Yeah, you can. But you can
221 00:36:57,120 --> 00:37:06,000 still use the commitment of traders data information I'm going to provide to you and market sentiment to frame your intermediate perspective. Now, obviously,
222 00:37:06,030 --> 00:37:16,320 we're not executing on an intermediate basis. But it frames your trade idea, you need one of two, at least three to come into agreement with your intermediate
223 00:37:16,320 --> 00:37:24,480 term perspective. Now, I know what some of you are thinking, Well, what if I look at a monthly chart and it tells me that this is bullish? And the weekly
224 00:37:24,480 --> 00:37:34,890 chart says it's bearish? And a daily chart is bearish? If at the commandment trader says it's bullish, and market sentiment is extremely bullish, okay, what
225 00:37:34,890 --> 00:37:42,240 do I do with all that information? How do I arrive at that, that's all going to be taught to you in the mentorship. But the main thing is, is this criteria is
226 00:37:42,240 --> 00:37:51,660 what we'll be using going forward. So that way, when we look at the market in nice views, you understand why I'm doing what I'm doing? Because based on the
227 00:37:51,660 --> 00:38:00,750 things that you're seeing here. Okay, so again, just know that to have the intermediate perspective outlined that to come to an agreement that at least two
228 00:38:00,750 --> 00:38:08,040 of these areas of study or focus for the intermediate term perspective, you have to come to an agreement of with two of them, in other words, either have to be a
229 00:38:08,040 --> 00:38:19,050 buyer based on two specific areas of study here, out of the three. Okay? So, again, as an example, you know, the weekly chart indicates the higher prices and
230 00:38:19,050 --> 00:38:28,470 commitment traders suggesting that there's bullishness on the stance of the commercials, that would be enough to frame a intermediate term perspective, that
231 00:38:28,470 --> 00:38:36,780 means you're gonna simply wait around for a short term perspective that lines up with buying. And that's really all we do here. That's all we're doing. Okay, so
232 00:38:36,780 --> 00:38:45,090 we're gonna frame a macro big perspective. Okay, and then either me an intermediate term perspective, and a short term perspective. That's what we're
233 00:38:45,090 --> 00:38:51,180 looking at next. Okay, so for short term perspectives,
234 00:38:52,170 --> 00:39:02,070 we're gonna be looking at the correlation analysis, time and price theory, and Epta, which is again, interbank price delivery algorithm to take a closer look
235 00:39:02,070 --> 00:39:14,310 at this short term perspective. Okay, so right away, there should be something staring at you that now all of a sudden, we have to look at three things to
236 00:39:14,310 --> 00:39:22,680 arrive at our short term perspective. And the reason why is because most people just look at a one minute chart or five insurance as Okay, well, this is what I
237 00:39:22,680 --> 00:39:30,030 need. And that's what gets them in trouble. Okay, so when we look at short term perspectives, okay, we're gonna be looking at the correlation analysis. And
238 00:39:30,030 --> 00:39:39,180 again, that is going to be linked to your understanding of the US Dollar Index SMT analysis, and I know it's probably went way over your head if you're new if
239 00:39:39,180 --> 00:39:49,770 you never went through my free tutorials. That probably sounds like something you hear from NASA. But the the dollar index SMT analysis is basically just
240 00:39:49,770 --> 00:39:59,040 looking at the relationship between the dollar making higher highs. A relationship between a currency to the dollar like the British pound for
241 00:39:59,040 --> 00:40:08,010 instance, if that dollars making higher highs. If the British pound versus the Dollar fails to make lower lows, that's a crack in correlation. And we view that
242 00:40:08,010 --> 00:40:18,570 with a specific idea in mind. And the other correlation analysis concept that I use is correlated pair SMT analysis, where we look at closely correlated pairs,
243 00:40:18,570 --> 00:40:26,730 like for instance, the Euro dollar, and the British pound dollar, because usually they move in general, same direction, not always obviously, you can see
244 00:40:26,730 --> 00:40:37,110 with the Brexit issue, generally, when there's a symmetrical market, which we learned about in this mentorship, already correlated pairs move in tandem, when
245 00:40:37,110 --> 00:40:46,590 they do not move in tandem, that obviously gives us a lot of insight in terms of how we should be trading the marketplace. If it is not moving in tandem, then
246 00:40:46,590 --> 00:40:54,420 obviously, that's indication that we do not have what asymmetrical market. So that means we have to be very selective with our trades, because now there is
247 00:40:54,420 --> 00:41:03,210 the lack of symmetry in the marketplace, that means the dollar is very clearly moving higher, all foreign currencies are moving lower in sympathy. Next area of
248 00:41:03,210 --> 00:41:12,570 study is time and price theory. Okay, and so time and price theory, we're looking specifically at the quarterly effect, that means every, every three
249 00:41:12,570 --> 00:41:22,380 months or so, there is a new price shift in the higher timeframes. In other words, if the markets been going higher, generally, you'll probably see the
250 00:41:22,380 --> 00:41:30,000 market go into a consolidation over the next three months, not for the next entire three months. But over the course of three months, if the markets been
251 00:41:30,000 --> 00:41:39,900 going higher, you'll probably see the market go into consolidation or reverse, okay, and if the markets been going lower, okay, over the next three months, we
252 00:41:39,900 --> 00:41:48,450 may see a consolidation and go into range, or it could reverse and go higher than we just were watching them, the market over, it's usually a three to four
253 00:41:48,450 --> 00:41:57,600 months. So I'll add a little bit of overlap in terms of calendar months, it's not specific daily, you know, so I'm sorry, it's not specific to the first of
254 00:41:57,600 --> 00:42:07,170 every month to the end of, you know, the last day of the third month, it's not that clear cut. So we look at the market with a quarterly perspective and allow
255 00:42:07,680 --> 00:42:19,320 the next shift and market structure to unfold. There's a monthly effect where we look at the monthly ranges, and we look at specific points of reference relative
256 00:42:19,320 --> 00:42:28,140 to the monthly chart. And then obviously, the weekly rains. Most of you know about that, because I teach a lot in my free tutorials about one shot one kill
257 00:42:28,350 --> 00:42:38,340 setups, which I think is like, that's like my bread and butter go to. That's how I, that's how I define my own trading. I am a weekly range trader, by far and
258 00:42:38,340 --> 00:42:46,590 large, that's usually how I'm trading the marketplace, I'm looking for capitalizing at least the lions portion of what I interpret as the weekly range
259 00:42:46,590 --> 00:42:55,470 that may unfold for the week ahead. And obviously, the daily range daily ranges, the time and price theory that we use for engineering to daily rings, that the
260 00:42:55,470 --> 00:43:06,420 power three, open high, low and close how that transforms into the actual daily candle, you know, those theories and ideas, concepts will will teach a great
261 00:43:06,420 --> 00:43:15,120 deal about that. And obviously, time and time of day will build on what's already been shared in the free tutorials. And you'll actually have really
262 00:43:15,300 --> 00:43:28,350 precision based concepts as it relates to that. And I'm finally Epta, which is the interbank price delivery algorithm, we'll be nailing down institutional
263 00:43:28,350 --> 00:43:32,130 order flow, we'll understand obviously, by looking at liquidity.
264 00:43:33,780 --> 00:43:43,680 We'll be looking at how the market seeks liquidity. And we'll be finishing up our perspective on market efficiency paradigm. So when we are looking at the
265 00:43:43,680 --> 00:43:56,280 short term perspective, we require three things. Okay, three things must come by way of these three areas of study correlation analysis, time and price theory
266 00:43:56,550 --> 00:44:06,660 and the HIPAA. Preferably, you have to have at least one from each. Okay, so in other words, you have to have your dollar index has given you an indication that
267 00:44:06,690 --> 00:44:17,970 it's showing you a kraken correlation, or correlated pair SMT is giving you insight. Okay, so that would be one way of determining correlation analysis. The
268 00:44:17,970 --> 00:44:29,430 next area is crucial time and price, you have to have something from the time price theory to indicate where you're at relative to the short term perspective.
269 00:44:29,820 --> 00:44:38,940 Now, you're probably thinking, Okay, well, how is the quarterly affected a monthly effect, or weekly range? A short term perspective? Because short term is
270 00:44:38,940 --> 00:44:47,100 what you're actually going to execute on. Okay? It doesn't mean this is your five minute 15 minute setup. It's just this is your short term perspective. So
271 00:44:47,100 --> 00:44:55,860 we're looking at framing the ideas of trading around a big picture perspective, intermediate term perspective, and a short term perspective. When we get things
272 00:44:55,860 --> 00:45:05,160 in alignment, that lead to us being a buyer all across just those three perspectives being a big picture perspective and intermediate term perspective
273 00:45:05,160 --> 00:45:17,850 and short term perspective, we are highly prepared to find high reward setups to be a buyer in those conditions. It doesn't mean you're going to have, you know,
274 00:45:17,850 --> 00:45:26,340 losses and you're gonna have all winners, it doesn't mean that okay, but we have a context that we frame our ideas of trades with that model, or at least that's
275 00:45:26,340 --> 00:45:35,730 how I do it. So that's why you're here. You want to learn how I do it. So this is how I do it. We can have the correlated analysis, give us a indication that
276 00:45:36,330 --> 00:45:46,980 we're going to be bullish on dollar, which would be bearish on foreign currencies. And time and price theory. Okay, quarterly effective? Well, maybe
277 00:45:46,980 --> 00:45:57,300 we've seen the market moving higher, okay, in recent months, and we're probably getting ready to go into a down cycle. Okay. And that would lend well to you
278 00:45:57,300 --> 00:46:10,440 being short on foreign currencies, maybe the, the weekly range, okay, maybe we have initially at the beginning of the week, we've rallied out from Sunday into
279 00:46:10,440 --> 00:46:18,720 Monday. And now we're primarily looking for what lower prices. And if we see that weakness on the part of foreign currencies relative to what the dollar
280 00:46:18,720 --> 00:46:25,740 index is suggesting, okay, these are all scenarios I'm giving you just an idea because some of you probably think Institute vague isn't that helpful? Okay,
281 00:46:26,190 --> 00:46:35,580 believe me, this is this is what really trading is all about, you're doing all these things behind the scene, the very little bit of time that's used to
282 00:46:35,580 --> 00:46:44,850 execute trades. Okay, that's so tiny, the most of your time is actually gonna be in the process of deciding whether or not you should be a buyer or seller, and
283 00:46:44,850 --> 00:46:54,090 what frames that criteria. And obviously, time of day, you know, are we in a time of day where it's conducive for the trade the setup, okay, we may not have
284 00:46:54,090 --> 00:47:02,100 anything immediately off the quarterly effect or monthly effect, or weekly range or the daily range, okay. But the time of day may indicate that now suddenly,
285 00:47:02,100 --> 00:47:11,730 there's something that we could do. Okay. And obviously, Epta is always going to be essential, understanding institutional order flow, and understanding where
286 00:47:11,730 --> 00:47:19,800 liquidity is and why the market will seek that liquidity. And our perspective, as always, with the market efficiency paradigm, we look at the marketplace in
287 00:47:19,800 --> 00:47:29,370 terms of where are the orders, and it's not the orders of the smart money. Okay, like supply and demand tries to teach they teach you that. This is where smart
288 00:47:29,370 --> 00:47:31,140 money orders are, where Smart Money
289 00:47:32,400 --> 00:47:40,830 wants to go back to, they're not always knowing that there's some time seeking where existing orders are, that would allow them to engineer counterparties to
290 00:47:40,830 --> 00:47:49,410 their execution. Okay, so in other words, they're run old highs for the buy stops, they'll run old lows for the sell stops, because that will be a forced
291 00:47:49,560 --> 00:48:00,810 injection of liquidity to the counterparty to their bookmaking. So we're going to go forward in our studies in this mentorship with a great deal of refinement
292 00:48:00,810 --> 00:48:09,930 on all of these things. And I know some of you probably look at this and say, well, this isn't a lot of just boring information. But I have to give you a
293 00:48:09,930 --> 00:48:19,860 context of where our area of study is going to be. So in the grand scheme of things, we're going to be breaking them out down in these specific perspective.
294 00:48:20,190 --> 00:48:30,150 And then what we do in these respective areas of study that give us what we're specifically specifically doing on a day by day basis. Now it looks like and
295 00:48:30,150 --> 00:48:36,480 I've been talking for a long time, it looks like a lot of information and a lot of things to do before you come away with Okay, I'm gonna be a buyer seller.
296 00:48:38,220 --> 00:48:46,170 You'll see obviously, the big picture perspective, you usually have that at the beginning of the week. And the intermediate term perspective, you usually have
297 00:48:46,170 --> 00:48:52,770 that at the beginning of the week to it can happen or change gears in the middle of the week, relative to Tuesday and Wednesday. But usually the short term
298 00:48:52,770 --> 00:49:02,430 perspective, that's the one that usually changes on a day by day basis. Okay, so, understand that while we're doing a lot of our homework and the big picture
299 00:49:02,430 --> 00:49:12,960 perspective, and a midterm perspective, and we can do that on the weekends. Your nightly or daily procedures will be largely in this list that you see right
300 00:49:12,960 --> 00:49:25,020 here. So when we do like, live sessions, okay, I'm operating from this scale right here, I'm looking for three things that come in agreement. And that's why
301 00:49:25,050 --> 00:49:34,530 when I call a specific move in the marketplace, they usually go there. And I'm using this right here. They are all linked to my understanding of what I arrived
302 00:49:34,530 --> 00:49:46,170 at for my intermediate term perspective, and my big picture perspective, okay. But once you understand price action extremely well, and you operate as a
303 00:49:46,170 --> 00:49:55,140 scalper, okay, and I'm not trying to induce the notion of scalping as a as an ideal way of trading by an assignment. You're going to take my information and
304 00:49:55,140 --> 00:50:04,080 do that invariably, you can just use what you see here. And you can be a very Efficient scalper if you understand what is being shown here, and what,
305 00:50:04,830 --> 00:50:11,340 specifically that we do with this information, you know, understanding what the quarterly effect is what the monthly effect is weekly range, daily range and
306 00:50:11,340 --> 00:50:20,010 time of day. Understand what SMT divergence is, and correlate SMT divergence, understanding what that Kraken correlation means for you as a trader, and then
307 00:50:20,010 --> 00:50:28,710 obviously, understanding institution or for where's the stops, and why those stops would be necessarily up for grabs, why would the market go there, that's
308 00:50:28,710 --> 00:50:38,400 what the market efficiency paradigm is. So again, this is the only thing that you need to be worrying about in terms of trade plan development, for the ICT
309 00:50:38,400 --> 00:50:48,930 mentorship, all of these things come by way of very, very short amount of time looking at price, and you'll come away with what you want to do right away. And
310 00:50:48,930 --> 00:50:57,150 initially, you're going to write down these things. Okay, I believe that the big picture perspective is I believe that it's going to be this, this and this. And
311 00:50:57,150 --> 00:51:05,070 then you're gonna go into intermediate term perspective, you know, you come away with your analysis on what you believe there. And when you see the short term
312 00:51:05,070 --> 00:51:13,350 perspective, you go through the same process here, basically, what you saw me doing with the exception of not bringing out the s&p divergence studies in
313 00:51:13,350 --> 00:51:21,540 September because I was looking at but you just didn't see it, the guy was operating on this, this short term perspective, that's how that's this is my
314 00:51:21,540 --> 00:51:31,380 model. Okay, so as a day trader, as a short term trader, and as a one shot, one kill trader, this is all the information I need, I don't need anything else
315 00:51:31,380 --> 00:51:37,080 outside of this page you're looking at right here, I just need three things to come in agreement with that. And then I'll understand where it's short term
316 00:51:37,080 --> 00:51:44,190 perspective is and where the markets going to go. And that's why I'm like 90 plus percent accurate. In the month of September, we pretty much had 100%, hit
317 00:51:44,190 --> 00:51:48,720 rate on everything want to ask the market to show us in terms of where it was going to go and why it would go there.
318 00:51:50,250 --> 00:51:56,730 It's not always going to be that easy. There's going to be transitions, obviously, on an intermediate term basis, and even a long term basis. And that
319 00:51:56,730 --> 00:52:04,950 will cause you to have hiccups, okay, or speed bumps, if you will, or barriers, okay, on the short term perspectives, and that's where the losses are going to
320 00:52:04,950 --> 00:52:12,510 be, you're going to find that your losses are not incurred so much by way of trading in intermediate and long term perspective, the big picture, when you're
321 00:52:12,510 --> 00:52:21,720 trading in those higher timeframes, those trades generally will serve you very well, you will still have losses, but you're gonna find that all of your trades
322 00:52:21,720 --> 00:52:29,880 that have the majority of the losing side, it's going to be because you're in the short term perspective, and you either force something or the markets in
323 00:52:29,880 --> 00:52:40,650 transition, and yet to allow for that. Okay, so if you're focusing on the higher timeframe, perspective, in your trades, that is an advantage. So, while we see
324 00:52:40,650 --> 00:52:49,530 me operating a lot with the 15 minute timeframe, and four hour and one hour chart, the things that we talk about are largely on the weekly and the daily
325 00:52:49,530 --> 00:52:58,770 chart. And if we do that, primarily in all of our trade setups, requiring a big picture perspective, intermediate term perspective and short term perspective,
326 00:52:58,800 --> 00:53:10,140 in alignment and agreement, that means all three, we come away with a reason for expecting the outcome. In other words, higher prices, or lower prices. Think
327 00:53:10,140 --> 00:53:24,030 about what we have here, we have to have seven things in agreement to make a high reward trade scenario. Okay, for a high reward trading setup, it has to be
328 00:53:24,060 --> 00:53:32,640 four things in agreement, that means you have to have two things in agreement, from the big picture perspective, get that two things in agreement with the
329 00:53:32,640 --> 00:53:42,270 intermediate term perspective, then you have to have all three, that's less listed here. Okay, yet that one from each one of these three, to come into
330 00:53:42,270 --> 00:53:50,700 agreement with all three perspectives to big picture, intermediate term perspective and the short term perspective. And if you frame your trades with
331 00:53:50,700 --> 00:54:01,050 this mindset, what that does is it number one, it gives you clarity, number one, it gives you the understanding what it is that you should be expecting to see in
332 00:54:01,050 --> 00:54:09,840 the marketplace and why which is important. Okay, it's not important to understand every dynamic behind what's being shown here for each perspective in
333 00:54:09,840 --> 00:54:21,420 the marketplace of study. That's going to be taught to you. But understanding that you need to have seven things. Okay, seven things that build high reward
334 00:54:21,420 --> 00:54:31,950 trade setups. This is not execution. This is not entry. It just gives you the framework, what makes that trade high probability or basically high reward.
335 00:54:33,480 --> 00:54:42,210 You still have to wait for a entry signal. And again, that's the least of your concern right now. So that's what I'm saying by looking at this information like
336 00:54:42,210 --> 00:54:51,900 this, even without going into great detail about each individual component. You can see clearly that there is a method behind what I do. Okay, folks that are on
337 00:54:51,900 --> 00:54:59,790 the outside, they look at what I do, and they say, well, it's there's no real structure here. There's no real plan of action now. There's no way of knowing
338 00:54:59,790 --> 00:55:08,190 what Is that should be doing from the beginning to the end. And that is because they have not been exposed to what you're being exposed to. Now, there is a
339 00:55:08,190 --> 00:55:17,070 method, there is a rhythm, there's a routine that you go through. But they have to come by way of a process oriented thinking. And this is how I break the
340 00:55:17,070 --> 00:55:24,420 market down. This is how I internalize it. And I go through the process of going through these three perspectives. And by doing that, it gives me everything that
341 00:55:24,420 --> 00:55:34,380 I need in terms of Arriving at a decision. And once you have that same process of thinking, okay, you'll have no problem going through the marketplace, finding
342 00:55:34,380 --> 00:55:45,420 scenarios and setups, and then picking out what gives you your unique trade setup that you'd like to trade if you find very easy, and the clarity will be
343 00:55:45,420 --> 00:55:53,610 exactly as you imagined it would be. And when you get in front of a chart that just jumps off at you. Okay, that's how it'll be for you, as a new trader, you
344 00:55:53,610 --> 00:56:02,640 don't get exposed to these types of thinking, you don't get exposed to these process, you know, procedures where you got to look at things conceptually,
345 00:56:03,120 --> 00:56:12,480 because number one, it doesn't sell courses, it doesn't make you want to watch that YouTube video, you don't want to listen to this one. Okay, but this is
346 00:56:12,480 --> 00:56:21,720 where the real meat is, okay, you have to know why these things make a difference. And why it's important that you understand what you need to be doing
347 00:56:21,750 --> 00:56:29,970 for individual perspectives of study. And then once you go through and you understand it, it's like anything else, no one wants to read the driver's manual
348 00:56:29,970 --> 00:56:37,410 to learn how to drive, no one wants to look at the instruction manual on how to put that TV standard together that you had to buy, because your wife said, you
349 00:56:37,410 --> 00:56:43,290 have to have it, okay, and you just want to look at the parts and fit it together. So you can quickly get through it. You can't do that with trading,
350 00:56:43,560 --> 00:56:53,640 okay, you have to go through this boring stuff. And it means a great deal, trust me. If I would have been told this initially, I would have ignored it too. I
351 00:56:53,640 --> 00:57:00,720 would have just pushed it aside. And I was looking for, give me the buy signals and give me the sell signals. Because that's how I thought to once I felt the
352 00:57:00,720 --> 00:57:08,880 pain of not knowing what I was doing. Then I suddenly got interested in what makes traders think the way they do. And then what's the process of why they
353 00:57:08,880 --> 00:57:18,210 think the way they think and why. Why did they build their trading plans around that? If you think about it, what do you not see in the marketplace? When people
354 00:57:18,210 --> 00:57:30,240 sell things, and they sell courses? What is it they don't sell, they never sell you an actual trading plan. They never sell you a step by step, this is what
355 00:57:30,240 --> 00:57:34,470 you're going to do. And this is the reason why it should do this. No one does that.
356 00:57:35,850 --> 00:57:44,610 That was my goal. For this mentorship, I want to show you what specifically I do as a trader. Now, I'm going to give you all kinds of ideas on how you can refine
357 00:57:44,610 --> 00:57:51,840 that and make it uniquely yours. And you can define your own trading model around that. Because I believe just like Chris Laurie has said, and I was in
358 00:57:51,840 --> 00:58:00,270 agreement with him when he said it, you can't copy someone else, you can't do it. And some of you want to be just like me as a trader and do this and do that.
359 00:58:00,540 --> 00:58:08,670 You're only really asking to be able to call moves and trade to the levels like I call in advance. So it's not that you want to trade like me, you want to have
360 00:58:08,670 --> 00:58:15,630 the ability to read interpret price acts in the same way I do. And that's what you bought and paid for. And that's what you're gonna get as a delivery. By the
361 00:58:15,630 --> 00:58:24,960 end of this mentorship, you're going to have everything that I do, why I do what I do, and how I arrive. That understanding is what has been shown here. There's
362 00:58:24,960 --> 00:58:36,240 no secret sauce, there's nothing outside of what's been shown here. The theory behind why they all blend together. Okay, that's what we'll be building on. And
363 00:58:36,240 --> 00:58:45,840 at the end once we understand intimately what each one of these perspectives we're looking for. And what criteria lens well for the decision making process
364 00:58:45,840 --> 00:58:55,260 for each individual perspective and individual respective component. Once we have that, then we have the building blocks for what the flowchart for every
365 00:58:55,260 --> 00:59:05,340 model of trading that there can be day trading, scalping, swing trading, one shot, one kill you position trading, all those things, it's easy for me to have
366 00:59:05,490 --> 00:59:14,280 a flowchart and say, okay, XYZ do this or do that, you'll know what I mean by that. And that's what I said, if I if I put the flowchart up on the website
367 00:59:14,280 --> 00:59:21,420 right now, you wouldn't be able to do anything with it, it would be no use to you, you couldn't do anything with it. But by breaking down these individual
368 00:59:21,420 --> 00:59:31,200 components, intimately, you'll know what I mean when I say okay, do this or do that. Okay, you okay, well, I understand what that means. And then I know how to
369 00:59:31,200 --> 00:59:41,220 arrive at the decision relative to those specific points of reference. And then by doing that, you'll you'll work through the flowchart and you'll either come
370 00:59:41,220 --> 00:59:48,300 to the decision point where you take action or you stand and you wait for more information or you go back to the previous stage and you wait for more
371 00:59:48,300 --> 00:59:48,930 information there.
372 00:59:50,190 --> 00:59:59,040 And it makes it very binary. You need your trading to be just like that. It's boring and it's exactly what you want. You do not want high excitement in your
373 00:59:59,040 --> 01:00:06,390 trading all only do that on the weekends, when you had a really good smashing week, we just killed it. That's when emotions are allowed. But throughout the
374 01:00:06,390 --> 01:00:14,670 week, when the markets are still trading, you cannot allow your emotions to get ahead of yourself and can't get crazy. And you want your trading to be boring,
375 01:00:14,670 --> 01:00:23,220 you want it to be monotonous you want it to be mundane, and, and routine, and nothing exciting about it. That's when you know that you're gonna be forced by
376 01:00:23,220 --> 01:00:30,660 emotion, you're not gonna be driven by fear and greed. It's just business as usual. It's the same thing all the time. And you hear it sometimes when I'm
377 01:00:30,660 --> 01:00:38,220 talking, you know, I'll talk about especially the level the markets start screaming for it, I'm still talking, you know, I'm not worrying about it.
378 01:00:38,460 --> 01:00:45,990 Because I've seen it so many times, the whole time that the room is lit up, they're like, I can't believe this happening, because it's moving look at what
379 01:00:45,990 --> 01:00:55,230 rate to the PIP. You're all experiencing that for the first time. You expressing in December, everyone that was watching on a day that day by basis. That's not
380 01:00:55,260 --> 01:01:02,640 something I get excited about unless, you know, I see a real new trader, when they get in there, and they start looking at it. And their response is that I
381 01:01:02,640 --> 01:01:09,930 can get to relive that moment. But when we go through the process of breaking down the markets, and we're looking for high reward trading scenarios, you have
382 01:01:09,930 --> 01:01:17,910 to suppress that desire, don't be in a rush to get to that feeling of you were right and look at the market don't do that. And by having a process oriented
383 01:01:17,910 --> 01:01:27,690 thinking, you're thinking binary, it's x courts, oh, it's on or it's off, it's black, or it's white, that's how your trading has to be. And if you can work
384 01:01:27,690 --> 01:01:37,620 your trading model into that area of study and execution, you will have no problem with fear and greed, you won't rush, you won't have any issues at all.
385 01:01:37,650 --> 01:01:44,640 And just like we've mentioned in the previous teaching, if you have a loss, there's no reason to worry about it, it's very easy to get it back. And even if
386 01:01:44,640 --> 01:01:52,140 you have a string of losses, it doesn't take long to recoup that. But if you lose your mind, okay, thinking all of a sudden the markets are, you know, are
387 01:01:52,140 --> 01:02:00,540 never gonna work like this again. And there's no reason to think that way. You'll see, by the end of this mentorship, you'll know everything you need to
388 01:02:00,540 --> 01:02:10,140 know, and how to operate and execute and engage the marketplace on a day by day basis. And you'll know what exactly you're going to do and why. But it comes by
389 01:02:10,140 --> 01:02:20,520 what we just described here. And all the framework has been shown here, nothing outside of this no secret stuff. Okay. Everything refined to great detail, minut
390 01:02:20,520 --> 01:02:31,350 detail. And then what that allow us to do is to have specific processes that will lend well to specific conditions that we'll talk about. And then all that
391 01:02:31,350 --> 01:02:39,120 will give us our trade scenarios and setups. But the ingredient behind it all is what's been shown here in this tutorial. And it's important you understand that
392 01:02:39,150 --> 01:02:49,320 this is exactly what you would be wanting to know, but you just didn't know it. And it doesn't sound sexy doesn't make a good course, it doesn't make a good
393 01:02:49,320 --> 01:03:01,920 video, YouTube. If if you were to just explain this, if someone was to show just a PDF file on this on this video, maybe like this tells me nothing. But really
394 01:03:01,920 --> 01:03:09,510 is when we're going to build on this. It's exactly the the framework or the backbone of how I trade, how I'm able to call the markets and why they go where
395 01:03:09,510 --> 01:03:19,560 they go beforehand, how I showed 50,000,000% In one month, you know with a my FX book for October so far. All that is because of what's been shown here and my
396 01:03:19,560 --> 01:03:28,830 implementation of all that information. So I want you to understand it. We're going to build on this individually, conceptually. And then once we flesh it all
397 01:03:28,830 --> 01:03:38,160 out. It'll be easy to be able to provide a PDF file and you'll know exactly what that means when you look at the PDF file why these information reference points
398 01:03:38,190 --> 01:03:46,770 are influential in terms of decision making. And once you have that, you'll be exactly what you signed up for the independent thinking efficient trading