001-ict-tw-spaces-20220520-original
Last modified by Drunk Monkey on 2022-12-29 08:24
Outline
01:48 - What’s happening in the market today.
08:06 - Big down days, big ranges, and small ranges.
13:51 - The choppy range is going to create a lot of doubt and confusion.
19:33 - Don’t wait for a full stop out.
25:46 - The market can stay in a range bound condition or trade higher and leave it.
30:37 - What is a fair value gap?
36:09 - Don’t try to reach out to me.
43:42 - The byproduct of a day like yesterday -.
49:45 - The mirror analysis of yourself and your character.
55:02 - Why you need to be realistic about managing risk -.
59:55 - I make my kids work menial jobs because I hate them.
01:05:26 - Scott’s run on the 3950 level -.
01:09:05 - Nasdaq looks like it wants to take the S&P 500 down.
01:13:06 - The unicorn is your unicorn.
01:17:51 - Don’t go out and express yourself in a pompous manner.
01:23:05 - What do you want to get paid?
Transcription
| 1 | 00:00:01,530 --> 00:00:16,140 | ICT: Alright folks, can you hear me? Just give me a response back to that tweet I just posted out appreciate it. You can hear me. Everyone that's asking to |
| 2 | 00:00:16,140 --> 00:00:30,090 | speak with me. I'm going to ignore your requests respectfully. I don't know what I'm doing on this thing is trial and error. Is the audio clear? And is the |
| 3 | 00:00:30,090 --> 00:00:34,890 | volume good? Thank you J rod |
| 4 | 00:00:42,810 --> 00:00:52,620 | Awesome. Awesome. All right, so give me one second longer I appreciate your patience. But it looks like it's gonna be pretty quiet this morning. So far, |
| 5 | 00:00:52,620 --> 00:01:00,450 | there's no news to speak up and just give me a couple more seconds to get my charts one. |
| 6 | 00:01:52,020 --> 00:02:07,050 | Alright, so if you watching live or listening live, I should say you take your E Mini s&p chart and open it to the 15 minute timeframe. |
| 7 | 00:02:15,090 --> 00:02:32,670 | Okay, and overnight, it ran up and took the balance of the position I had on from yesterday's three o'clock, short opportunity. That example was hopefully |
| 8 | 00:02:32,670 --> 00:02:43,440 | insightful to you. A lot of discussion about what was shown in my tweet yesterday without really going through it a couple of beta males out there to |
| 9 | 00:02:43,440 --> 00:02:54,300 | chat and not really picking up on the narrative. But this is the invitation I'm going to places in the beginning if all you out there that are like educators |
| 10 | 00:02:54,300 --> 00:03:04,980 | and want to be gurus and traitors and stuff. Why don't you start showing your statements? So I can No, you can trade too, because I think it's been raised up. |
| 11 | 00:03:05,520 --> 00:03:18,660 | Now. The bar has been raised, saying You took a trade and talking about something doesn't work anymore. So I believe because we have no real news this |
| 12 | 00:03:18,660 --> 00:03:34,860 | morning. Think about what we have seen this week so far. For the index futures. The big smashed down day we had on Wednesday, the outside they was down close. |
| 13 | 00:03:36,360 --> 00:03:48,060 | The fact that we didn't take out May 12 low on Spoos Emini, s&p, and NASDAQ failed to take its low out but on the Dow and and a lot of you guys are |
| 14 | 00:03:48,060 --> 00:03:57,420 | questioning all the time. Why don't ever talk about that. I don't trade the Dow. Okay, I don't trade it, but I do incorporate it with my analysis between the |
| 15 | 00:03:57,420 --> 00:04:09,870 | three averages. So anyway, the point is this. We had a big smash down day, one Thursday, outside day with down close Generally, I like outside days with down |
| 16 | 00:04:09,870 --> 00:04:17,460 | closes when the markets bullish. Now let's say this market has been going up. Okay. And I think we have a little bit upside this morning. Let me just preface |
| 17 | 00:04:17,460 --> 00:04:28,470 | it by saying all that. I don't think there's anything to do at the very moment. I want to see what we do at 930. I'll probably hang out with you until around 10 |
| 18 | 00:04:28,470 --> 00:04:40,200 | o'clock and then I have to escape. But, you know, I try to talk with you about some things that I think may be useful to you. And also review what we did |
| 19 | 00:04:40,200 --> 00:04:52,230 | yesterday, a little bit more detail. But the idea of a outside day with a down close if it's bullish. I teach that pattern is a setup that's usually bullish |
| 20 | 00:04:52,230 --> 00:05:00,900 | that goes into the next few days after that, because we have been going lower. We've been going lower into May at a seasonal tendency. I'll lined in the |
| 21 | 00:05:00,900 --> 00:05:13,590 | mentorship on YouTube, you've all watched that transpire. So if we look for days to have outside days down close in a market that's bearish by itself, it just |
| 22 | 00:05:13,590 --> 00:05:25,980 | means it's likely to continue lower. But if we are met with what we have, here we are at the end of the week, you know, Thursday, we had a mixed day didn't |
| 23 | 00:05:25,980 --> 00:05:33,510 | really continue going lower to make a new lower low. The three averages have not confirmed one another with the lower low on the daily chart. So if you take a |
| 24 | 00:05:33,510 --> 00:05:46,140 | look at your E Mini s&p June 2022 contract, and you'll notice the relationship between Thursday's low versus may 12 is low. It wasn't able to make that lower |
| 25 | 00:05:46,140 --> 00:06:00,720 | low compared to the 12. On May. Same thing with the NASDAQ. But we did get it lower on the Dow. So by itself, you know, that's I guess if you want to use it |
| 26 | 00:06:00,720 --> 00:06:13,410 | as like a Dow Theory, the averages have not confirmed. And we're at the end of the week, we don't really have any news today. So it could potentially be a very |
| 27 | 00:06:13,410 --> 00:06:21,990 | lackluster digging session, going by face value looking at what we have right now. But obviously all that can change at 930. When the equities market opens |
| 28 | 00:06:21,990 --> 00:06:32,640 | up, and things start getting moving around. So we'll see what we get in regards to that. But I wanted to kind of like, roll back a little bit on the discussion |
| 29 | 00:06:32,640 --> 00:06:45,270 | with yesterday's whole entire day. The whole point was, and for those that have actually been with me for a while you know this to be true. And even the folks |
| 30 | 00:06:45,270 --> 00:06:57,840 | out there to have my mentorship, whether it's been by hook or by crook. You know what I say in that mentorship, I talk about how going big down days, or large |
| 31 | 00:06:57,840 --> 00:07:07,170 | Range Days, big ranges beget small ranges and small ranges to get large ranges. I learned that from Larry Williams, and I think it's a truism, it's going to |
| 32 | 00:07:07,170 --> 00:07:14,040 | never fall out of style, it's real. When there's a lot of excitement, when there's an interest in a market, |
| 33 | 00:07:15,600 --> 00:07:26,550 | that's when everybody else feels comfortable going in. And I don't want anybody to take one or two of those tweets that were given yesterday, which I obviously |
| 34 | 00:07:26,880 --> 00:07:40,590 | assaulted most of you. That's not my intention with the Twitter. But I made it an attempt to walk you through a day. Which, I guess in retrospect, looking at |
| 35 | 00:07:40,590 --> 00:07:49,410 | how I guess this is a lot easier. But I wasn't confident that I was gonna make it work. So I had my son next to me, and I was gonna just basically translate |
| 36 | 00:07:49,410 --> 00:07:59,340 | what I was giving him with you. So if I've given you a lot of tweets, or you're wondering like, man, what did I sign up? I'm not going to continuously do that, |
| 37 | 00:07:59,370 --> 00:08:12,600 | obviously. But the session yesterday was really geared towards, you know how to avoid blowing, you're focusing on the real manipulation and the move that takes |
| 38 | 00:08:12,600 --> 00:08:20,940 | place in the day. And how we moved and gyrated around that initial fair value gap, I gave you the levels and showed you in the video on YouTube last night and |
| 39 | 00:08:20,940 --> 00:08:34,830 | episode 32 of the 2020 mentorship series on my YouTube channel. It just kept going above and below and then gravitating right back to that fair, Vega just |
| 40 | 00:08:34,980 --> 00:08:45,420 | stayed within that range and only went up a little bit just to take the buy stops and very, very shallow declines. And as soon as you determine if you |
| 41 | 00:08:45,420 --> 00:08:56,790 | haven't really got that much experience yet in trading, the the sooner the sooner you can find out that you're in a day like that better. In you then |
| 42 | 00:08:56,790 --> 00:09:07,110 | you're met with? Do I continuously watch the market? Or do I wait to the last hour of trading. And that's kind of like the takeaway from yesterday, you're |
| 43 | 00:09:07,110 --> 00:09:17,730 | gonna learn by failure, that you're not going to see these things coming all the time, but as a precursor just know, ahead of time when we have big down days, |
| 44 | 00:09:18,000 --> 00:09:29,100 | and there's a large range day and we're near the end of a daily range. And we're within the last few trading sessions and now for weeks in a month or so, we've |
| 45 | 00:09:29,100 --> 00:09:42,030 | been bearish. We've been seeing the indices go lower since the beginning of April. So I'm not calling the bottom. I'm not trying to pick the bottom. But if |
| 46 | 00:09:42,030 --> 00:09:51,690 | you're going to be day trading or studying price intraday, you have to be aware of what may transpire after you see these big down days, especially if you see a |
| 47 | 00:09:51,780 --> 00:10:01,350 | outside day with down close near the end of the price run. And what I mean by the end the price run if you refer back to the blow made on May two Well, versus |
| 48 | 00:10:01,350 --> 00:10:13,590 | the April highs on your daily chart, that whole entire price swing. We're near the end of it right now this week. But we didn't get a lower low on Thursday |
| 49 | 00:10:13,620 --> 00:10:27,330 | with NAS or Spoos. We got it with Dow. So while I don't trade the Dow and why don't I trade it, it's, to me, I think it's a little too sloppy, it's erratic. |
| 50 | 00:10:27,750 --> 00:10:40,830 | And I'd prefer to be in s&p, s&p will have the cleaner price moves. NASDAQ, if I'm in a idea that is parabolic, and onwards, I think the markets really going |
| 51 | 00:10:40,830 --> 00:10:50,520 | to run, I think it's going to really take off, I have a big range day, I want to try to trade in the NASDAQ. Because I want that because it tends to exaggerate |
| 52 | 00:10:50,520 --> 00:10:58,110 | everything when it's a big move. Other people may say, Well, I'm not going to trade the NASDAQ because it's going to rip my face off. And I'll slow down and |
| 53 | 00:10:58,110 --> 00:11:06,630 | go into the s&p, I'm not like that. And you've seen me do that. And I've done it with live trades, Live account, it's not afraid of that. You won't be afraid of |
| 54 | 00:11:06,630 --> 00:11:14,760 | it either. But it doesn't mean it's an invitation for you go out there and risk live money and everything I teach you should be viewed in the context of paper |
| 55 | 00:11:14,760 --> 00:11:25,440 | trading and demo. But I've kind of like wanted to go into this year, like I mentioned last year, of trying to prove to everyone that there's no reason for |
| 56 | 00:11:25,440 --> 00:11:35,220 | you not to go in and look at this stuff on your own and see it for yourself. But invariably, when you do these things, like Murphy's Law, whatever can go wrong |
| 57 | 00:11:35,250 --> 00:11:47,820 | will. And as a new student, it's very easily easily found for a new student to be discouraged because of initial adversities. And if you started, like for |
| 58 | 00:11:47,820 --> 00:12:01,740 | instance, if say use signed up for this whole business of ICT mentorship, ICT concepts, Smart Money, concepts, whatever. And you started learning yesterday, |
| 59 | 00:12:03,180 --> 00:12:13,170 | that is going to be a huge hurdle. And it's going to create a lot of doubt and confusion, because intraday range was choppy, it was sideways. And that was more |
| 60 | 00:12:13,170 --> 00:12:14,490 | or less what I was walking you through. |
| 61 | 00:12:16,080 --> 00:12:22,320 | Go back and look at the tweets. And you'll see that you can't just take one tweet out of there and say, Oh, look, he did this, he did that he didn't do |
| 62 | 00:12:22,320 --> 00:12:31,320 | this, he didn't do that. The whole context was stay out of the marketplace, because we went to 5050. So 5050 means we're gonna be in consolidation. |
| 63 | 00:12:31,320 --> 00:12:39,900 | Consolidation means wait till the last hour of trading doesn't mean you're gonna get it right doesn't mean I'm gonna get it right. It just means that as soon as |
| 64 | 00:12:39,900 --> 00:12:49,980 | you realize you're in a choppy range bound market, especially with index futures, this is predominantly linked to just index trading. This is not a Forex |
| 65 | 00:12:49,980 --> 00:13:03,840 | idea. I don't like Forex, you know, afternoon, to be honest with you. Noon local time, New York. But if you noticed how we were just holding that range, and ran |
| 66 | 00:13:03,840 --> 00:13:15,120 | up for the buy side, as I was outlining in a tweet yesterday, the whole context of what I was taking you through. A lot of traders just want me to, or students, |
| 67 | 00:13:15,120 --> 00:13:24,390 | I should say, want me to just get to the point give me a give me a way to buy or sell. Pick my entry. Give me a way to determine where my stop loss should be. |
| 68 | 00:13:24,390 --> 00:13:33,300 | Tell me how to move my stop, when should I move my stop and give me a target. And the fat expecting that to be understood, because I have already done all of |
| 69 | 00:13:33,300 --> 00:13:46,020 | that. Like that's already on YouTube right now. The problem is, there are so many variables to how the market is going to book present. What I mean by |
| 70 | 00:13:46,020 --> 00:13:55,140 | percent, it gives you opportunity, and sometimes it gives you these in impressions that it may be a good day to trade. But then all of a sudden, as |
| 71 | 00:13:55,140 --> 00:14:05,820 | soon as you press the button, it does what it did yesterday, and can be very frustrating. I can tell you as a younger man in my 20s when I first started |
| 72 | 00:14:05,820 --> 00:14:15,870 | trading the s&p we didn't have these big ranges back then in the 90s. They were nowhere near the level of volatility that's available to all of us now. But the |
| 73 | 00:14:15,870 --> 00:14:25,590 | idea of getting in on those days, like yesterday, when I was a young man, I would be in there trying to capture every continuation bull flag bear flag the |
| 74 | 00:14:25,590 --> 00:14:35,340 | whole business, I would go after everything I thought to anticipate the next run. But only on an upside because I was a buyer. I didn't want to short |
| 75 | 00:14:35,340 --> 00:14:46,800 | anything. But I would literally blow my accounts out all the time with those types of days. So you have to know what leads to those events. So that way you |
| 76 | 00:14:46,800 --> 00:14:56,910 | can avoid it or at least know that once you're in it, and you've taken a loss or two. You have to learn how to stop. Like you have to stop and not do any more |
| 77 | 00:14:56,910 --> 00:15:07,680 | trading and When it's easy, and the markets are real primed, and we're not primed to do anything exciting yet, I'm watching the charts as I'm talking to |
| 78 | 00:15:07,680 --> 00:15:18,690 | you. So don't think I'm not paying attention to it. When it's easy to see the market drawing to a particular high or a particular low, and it's one sided, |
| 79 | 00:15:18,720 --> 00:15:27,750 | that's what I teach as a low resistance liquidity run, okay, where you have just a real easy run to an objective. It's so one sided, you can't even argue about |
| 80 | 00:15:27,750 --> 00:15:37,620 | the possibility of an opposite perspective. That is my definition of high probability. I get the question all the time, like what makes a trade high |
| 81 | 00:15:37,620 --> 00:15:47,220 | probability, the fact that you can only really define it, either in a bullish stance or a bearish stance, and using the concepts that I teach, it is |
| 82 | 00:15:47,220 --> 00:15:58,290 | impossible to sell it to yourself as a closing opportunity numbers, if you're bullish. If you think the markets gonna go up, can you go in, in any way, shape, |
| 83 | 00:15:58,290 --> 00:16:06,720 | or form, justify a short, using what I'm teaching you. And if that's true, you can find something that's short, that's not high price, it doesn't mean that it |
| 84 | 00:16:06,720 --> 00:16:15,600 | can't still go up, it just means that it's not high probability. So when I'm mentoring my students, I'm teaching them to look for those types of setups. And |
| 85 | 00:16:15,600 --> 00:16:24,840 | the whole point of yesterday was not a high probability setup. And I told you watch, we're going to build this up, take the buy side out and watch the middle |
| 86 | 00:16:24,840 --> 00:16:31,290 | of the range. And it's going to occur between three o'clock and four o'clock. I don't know why these beta males out there that want to sit here on the sidelines |
| 87 | 00:16:31,290 --> 00:16:41,250 | when I'm safe, and not show you anything that they're doing this year. But they want to talk and chitchat. Go into the whole timeline of yesterday. And the real |
| 88 | 00:16:41,250 --> 00:16:47,730 | riders that were with me the entire day yesterday. Yes, it was grueling. Yes, I beat your Twitter. |
| 89 | 00:16:49,170 --> 00:17:01,950 | But you came away with now a measure of experience that you otherwise not, would have another never had got, without having gone through it. It's easy to get |
| 90 | 00:17:01,950 --> 00:17:09,570 | frustrated, and say, You know what, I'm not anymore, I'm done. Or going in and over trade in not knowing what you're doing, and then walk away with a toxic |
| 91 | 00:17:09,600 --> 00:17:20,130 | view about the experience. Whereas yesterday, all of us that were together, we were walking through the entire daily range on a one minute chart. So that way, |
| 92 | 00:17:20,130 --> 00:17:28,530 | we are reading the intraday volatility, how the market would likely reach for liquidity pool, if it doesn't reach down for it, what's it going to do? change |
| 93 | 00:17:28,530 --> 00:17:40,080 | gears, if it pulls back into a imbalance after it's left it, I taught you how to save your stop, don't wait for a full stop out. Like there was a lot of things |
| 94 | 00:17:40,080 --> 00:17:51,330 | yesterday that if I were 20 years old, again, I would have really had a notebook, out and pen. And literally going through the whole thing again, with |
| 95 | 00:17:51,330 --> 00:17:58,230 | the chart like I would still be doing it today, going back through yesterday's price action, reading everything into what I was outlining on the tweets, |
| 96 | 00:17:58,500 --> 00:18:13,020 | because that would have preserved sounds that I literally with live money blew out in the early 2020s, early 20s, in early 1990s. So when I give you these |
| 97 | 00:18:14,010 --> 00:18:22,500 | lectures, and I talk about the things that are going to be problematic, their conversations that the young guys want, like you don't want that you want to be |
| 98 | 00:18:23,280 --> 00:18:33,930 | in these big moves, that capture a lot of movement, make money, and then parade on social media. That's not what I'm trying to inspire. I'm trying to inspire |
| 99 | 00:18:33,930 --> 00:18:43,890 | folks to have a sober mindset about the real risks involved in this industry, because it's easy to hurt yourself. It's easy to hurt yourself, listening to |
| 100 | 00:18:43,890 --> 00:18:52,020 | anybody, even myself. So I have to pick my words carefully. Because there's a few out there that want to take anything they can take out of context and say, |
| 101 | 00:18:52,020 --> 00:18:57,780 | Look, he didn't do this, right. He said that he didn't. But forgetting the fact that we got about three o'clock yesterday being a short after the biceps get |
| 102 | 00:18:57,780 --> 00:19:09,480 | taken out and go back to the Millah range. They're not going to talk about that. But that was the whole point of yesterday's discussion. So as I mentor as I |
| 103 | 00:19:09,480 --> 00:19:21,420 | teach, as I try to bring things to light with the things that I use and implement in the marketplace, there's this large chasm, okay between hearing me |
| 104 | 00:19:21,420 --> 00:19:35,520 | or watching me display an idea conceptually, versus really understanding what it is that is required to do it yourself. Because the analogy I use all the time, |
| 105 | 00:19:35,520 --> 00:19:45,750 | it's not like you watch the video. It's an instant download. It may feel like that it may look like it's easy. It's not easy. It's not easy when you're |
| 106 | 00:19:45,750 --> 00:19:54,000 | developing and you're learning. It's normal for you to have that overwhelming sense of uncertainty. It's that's a normal thing. I had that I had that for a |
| 107 | 00:19:54,000 --> 00:20:03,990 | long time. Nobody was really cheering me on. I'm telling you that that's a normal part of this process, and try not to get your attention on like the |
| 108 | 00:20:03,990 --> 00:20:10,920 | Instagram guys that want to promote the image only that type of thing I want all of you, at least |
| 109 | 00:20:12,179 --> 00:20:20,579 | in my target audience is I want everyone to appreciate the underlying risks, because it's real easy to a wreck yourself financially, emotionally, |
| 110 | 00:20:20,579 --> 00:20:33,089 | psychologically. And it's painful. And you can develop real mental illness, from allowing yourself to be harmed in these marketplaces. Because it's easy to just |
| 111 | 00:20:33,419 --> 00:20:42,149 | feel like, okay, well, I got time, I'm gonna sit down from the charts. And if you apply that type of mindset yesterday, that was the whole point of walking |
| 112 | 00:20:42,149 --> 00:20:51,749 | you through it yesterday, I knew, if I wouldn't have been talking or tweeting about yesterday, most of you would have been like, I'm done. This is not doing |
| 113 | 00:20:51,749 --> 00:21:01,619 | anything on board. Some people were actually tweeting, say up, there's no set up, I'm just gonna leave. If you are not versed in understanding what you're |
| 114 | 00:21:01,619 --> 00:21:10,529 | doing in the market number one, two, with what I'm teaching you. And you say, I'm not going to look at the market, because the setups, not there, you're |
| 115 | 00:21:10,529 --> 00:21:20,939 | cheating yourself from real experience that's going to protect you in the future. I'm not always going to be here to point to where the markets gonna go. |
| 116 | 00:21:21,689 --> 00:21:29,099 | I'm not going to be chit chatting with my mentorship group. You know, in the future, when I can't do it, they're going to be left to make these decisions and |
| 117 | 00:21:30,089 --> 00:21:40,199 | lean on their own experience. So when I teach, I'm teaching an independent thinkers approach where you're not handheld. With me, I'm not trying to GLAAD |
| 118 | 00:21:40,199 --> 00:21:48,329 | hands on anybody, I'm not holding anybody hostage. My intent is for you to be able to look at the things I'm teaching you go through the experiences and |
| 119 | 00:21:48,329 --> 00:21:57,779 | endure the things that are required for you to get a better understanding of what it is that's required to participate in these markets. But the importance |
| 120 | 00:21:57,779 --> 00:22:06,389 | is, is you have to go through these long periods of boring, boring price action and looking at things that aren't necessarily going to put anything in your |
| 121 | 00:22:06,389 --> 00:22:18,869 | pocket immediately. Or take anything out. That's the main plus. That's an advantage. So when you're just observing, and your tape reading, not even demo |
| 122 | 00:22:18,869 --> 00:22:27,179 | trading, like there's a lot of you that are pushing the button already with live accounts, saying yeah, made this ICT, I did this with your mentorship. That's |
| 123 | 00:22:27,179 --> 00:22:34,829 | cool. You know, I get it, you're excited. But I've already mentioned many times, none of you should be doing that yet. But we have not had enough time. For me |
| 124 | 00:22:34,829 --> 00:22:44,099 | first starting teaching this whole thing. I think what was the first lesson and in February, or something to that effect. It was really early in the year. All |
| 125 | 00:22:44,099 --> 00:22:55,319 | of you should still be in the observation and maybe just starting to work into forward testing before testing is not pressing a demo. Like you got to be |
| 126 | 00:22:55,319 --> 00:23:06,539 | sitting down in front of the market and tape read. make annotations on your chart without pushing a button. Stop thinking about how much money you're making |
| 127 | 00:23:06,539 --> 00:23:16,649 | are losing and stop thinking about all the opportunities that you're missing. Things repeat that some of the better takeaways from sitting down from the |
| 128 | 00:23:16,649 --> 00:23:26,429 | charts and reading price on a day by day basis. Because then you'll be convinced rather quickly that there's a button ample amount of opportunities over the |
| 129 | 00:23:26,429 --> 00:23:38,219 | month stop thinking that you have to trade every single day. If you beat yourself up and not know what you're doing and you over trade and or push like I |
| 130 | 00:23:38,219 --> 00:23:48,899 | would like to see I would like to see that 3855 level swept it would make sense to do that. But the market can stay in a range bound condition or trade higher |
| 131 | 00:23:49,019 --> 00:23:59,039 | and leave that there. It can it can be there for months. Nothing says it has to go down here right away. I prefer it and right now if you're looking at your |
| 132 | 00:23:59,609 --> 00:24:04,049 | receipt on your E Mini s&p Let's go into a five minute chart |
| 133 | 00:24:09,690 --> 00:24:23,550 | Alright, so right now it's 10 minutes to nine near York local time. We have sweating 34 level and we took out the short term highs at 3944. So both near |
| 134 | 00:24:23,550 --> 00:24:32,550 | term buy side liquidity and sell side has been taken out. After three, again we're looking at a five minute chart on E Mini s&p, so on trading view your |
| 135 | 00:24:32,550 --> 00:24:43,620 | symbol would be E S, M 2022 and five minutes interval. So if you look at the high that was formed around five o'clock in the morning or certainly see if |
| 136 | 00:24:43,620 --> 00:25:03,930 | that's every time you have 510 515 that high at 3949 and a half. That was three times the market went up. See it was a high forehand At 3:45am, then at higher |
| 137 | 00:25:03,930 --> 00:25:20,850 | high formed at 440 or so. And then 515, then the market broke a short term low, at five o'clock in the morning, Faraday got formed on the 540 candle, and then |
| 138 | 00:25:20,850 --> 00:25:34,710 | the market traded down. And notice it did not take out the short term at 410. But then ran up above the short term high at 620, again, then broke down, we |
| 139 | 00:25:34,710 --> 00:25:50,730 | create another fair value got on the 810 Candle displacement on the downside, except for this small little low at eight o'clock on the dot, and then we broke |
| 140 | 00:25:50,730 --> 00:26:02,910 | down and took out the short term low at 710. Now, I'm not saying that you can't scalp that that's obviously a scalp. But when I'm looking at the market, I'm not |
| 141 | 00:26:02,910 --> 00:26:14,790 | looking for these little tiny micro moves. Okay, I'm looking for a move that could be framed as a small scalp like that, but I want to be part of a larger |
| 142 | 00:26:14,790 --> 00:26:24,330 | price run. I mentioned earlier in the conversation that I'm teaching my students to look for low resistance liquidity runs, that's either going long, and running |
| 143 | 00:26:24,360 --> 00:26:36,780 | above an old high or going short target of running out an old low. That is kind of like my bread and butter approach to trading. There are things that obviously |
| 144 | 00:26:36,780 --> 00:26:47,010 | helped me frame that logic, that idea, but they are predominately already taught on my YouTube channel. So you can dig into all those other things that support |
| 145 | 00:26:47,010 --> 00:26:59,580 | the idea. But the main thing if you're a student that just came to me by way of someone say, hey, look, check this guy out, whatever. Note that low eight, I'm |
| 146 | 00:26:59,580 --> 00:27:11,070 | sorry, for 10 liquidity resting rate below there, there isn't really any imbalance to the left of us. So the liquidity rustling below 410 on E Mini s&p |
| 147 | 00:27:11,340 --> 00:27:21,900 | five minute chart, that's a drop in liquidity. And then there's no real imbalance after that until we get down to the lows at 250. That is the low at |
| 148 | 00:27:23,220 --> 00:27:34,350 | 250. In the morning, go back a little bit. And you'll see that relative equal lows down here sort of cell side resting below that. So that's a draw. Let me |
| 149 | 00:27:34,350 --> 00:27:52,620 | put down my chart. Alright, so I got what I was saying. low resistance liquidity run, the idea of looking for trades that are one sided, where it's easy, you |
| 150 | 00:27:52,620 --> 00:28:02,910 | don't have to put a whole lot of thought into it. But waiting for those types of setups. Those are, in my opinion, what traders should be striving to trade and |
| 151 | 00:28:03,540 --> 00:28:15,540 | hunt. Not looking for just any old pattern. You know, you're all learning my fair value. Not every little gap constitutes a low resistance liquidity run |
| 152 | 00:28:15,690 --> 00:28:29,490 | entry. Many times it could be just filling it in it's because it's a common gap. Fair Value. Fair Value gaps are part of a underlying logic. And it's not just a |
| 153 | 00:28:29,940 --> 00:28:40,890 | small little separation that's highlighted with three candles. Okay? That candle at if you have your five minute chart on E Mini s&p, if you look at the candle |
| 154 | 00:28:41,100 --> 00:28:45,030 | exactly at 810, this morning on May 2020 22. |
| 155 | 00:28:46,950 --> 00:28:58,470 | That is the fair value got that one candle that is down the next candle to the right of it has a high of 30 and 40 and a half the candle prior to the candle at |
| 156 | 00:28:58,470 --> 00:29:18,360 | a 10 has a low of 3941 and a half that gap because it has already ran by stops the biceps resting above that 620. High that right there. That is a fair value |
| 157 | 00:29:18,360 --> 00:29:29,370 | gap because it's implying and the logic behind this and narrative is the market has already dropped and we return back into that imbalance at 810 that candle so |
| 158 | 00:29:29,370 --> 00:29:46,410 | it fills in that candle rebalances goes back up to the low of the candle at 805 then price is allowed to release lower and take out the low at 710 Because |
| 159 | 00:29:46,410 --> 00:30:01,170 | there's liquidity resting below that and then now we just swept the low are doing it we can tell you that we swept the world at 410 So When I'm teaching |
| 160 | 00:30:01,170 --> 00:30:10,140 | people look at the marketplace, it's easy for someone to be critical and say, Okay, look at this, you know, this fair value get didn't work there, oh, this, |
| 161 | 00:30:10,260 --> 00:30:18,570 | this didn't work there, this didn't work there. When, if you're going to look at what I'm teaching or investigate what it is I'm looking for, don't go in with |
| 162 | 00:30:18,570 --> 00:30:28,770 | the mindset saying, let's see how this fails, I want you to go in looking at how I teach you how to find it. Because the critics, they avoid all that, they're |
| 163 | 00:30:28,770 --> 00:30:36,480 | not going to go through the process of doing it the right way, as I outlined, and then you'll see that there they exist, they're there in the move every |
| 164 | 00:30:36,480 --> 00:30:47,310 | single day, every single week, they repeat all the time. If you go in looking for moves to systems, because you think it's a fair value gap, that's going to |
| 165 | 00:30:47,310 --> 00:30:57,300 | frustrate you, because it's not going to give you moves like yesterday, there may be fair value gaps there, okay by what is defined as the pattern. But that |
| 166 | 00:30:57,300 --> 00:31:08,460 | pattern is not associated with the expected delivery of price for that given day. So what I mean by that, as I outlined on day on Thursday, it was a large |
| 167 | 00:31:08,460 --> 00:31:19,080 | range day. And we're near the end of the range on that daily, Ron was lower from April high to May 12. So we're by definition, without the use of an indicator, |
| 168 | 00:31:19,110 --> 00:31:28,590 | we're oversold, we don't need an indicator to plot the fact that we're oversold. So the markets really, really, really suppressed, pull down low, it's at a real |
| 169 | 00:31:28,590 --> 00:31:43,710 | deep discount. And we're at the end of the week. And we start short on s&p, and the Nasdaq before running out May 12, low. But the Dow was able to go through |
| 170 | 00:31:44,280 --> 00:31:58,620 | May 12, slow. So all of those ingredients come together and create this product called consolidation. And those days, if you don't know what you're looking for |
| 171 | 00:31:58,620 --> 00:32:09,270 | when to anticipate them how to read them. You can go in and trick yourself into thinking there's a pattern there. There's a pattern in anything, you can be |
| 172 | 00:32:09,270 --> 00:32:18,510 | Fooled By Randomness. But when you apply logic, and the narrative that would be associated with a low resistance liquidity run, that means it's a high |
| 173 | 00:32:18,510 --> 00:32:30,480 | probability one sided price move that is justifiable only on the side that you're trying to trade. In the beginning, when you're learning, it's not going |
| 174 | 00:32:30,480 --> 00:32:38,280 | to feel clear to you as to what that means. And that's why I tell everyone, you have to take your time, you're gonna get these moments of astonishment, where |
| 175 | 00:32:38,280 --> 00:32:48,420 | it's like, I finally got that it's an epiphany, where you discover what you didn't realize was important to you. Now, suddenly, things become a lot more |
| 176 | 00:32:48,420 --> 00:33:03,720 | clear. And that is the byproduct of going through back testing, looking through old data and studying it. Watch that gap at, let's see what candles at 840 on |
| 177 | 00:33:03,720 --> 00:33:18,780 | your five minute chart. See if there's any response after going into the high on the 845. Candles high at 3937 and a quarter. See if there's a response in there. |
| 178 | 00:33:19,800 --> 00:33:33,360 | We left relatively cool lows at 29 and a quarter. And we have sellside resting just below 3915 and a quarter. |
| 179 | 00:33:44,910 --> 00:33:56,670 | So one of the frustrating things I've endured as a mentor, and teacher not just in recent years, but when I was doing one on one consultations and teaching one |
| 180 | 00:33:56,670 --> 00:34:06,060 | on one back in the late 90s. That does not happen. So please don't try to reach out to me. I don't do them anymore. But I'm just referring back to those |
| 181 | 00:34:06,090 --> 00:34:17,610 | experiences. I had many times where the people I was working with they would take what I gave them, follow the instructions. And they were on our way happy. |
| 182 | 00:34:18,540 --> 00:34:24,090 | And I had a handful of folks that were if I give them a set of rules and say this is what you're looking for. This is what you're trying to operate and |
| 183 | 00:34:24,090 --> 00:34:37,110 | engage with. They would say okay, I get what you're saying. But so as soon as you say but you just cancel out everything before what you just said. What they |
| 184 | 00:34:37,110 --> 00:34:47,670 | were saying to me and showcasing is they have no discipline. And many of you learning this, not just under me. Many of you are going to discover that you |
| 185 | 00:34:47,670 --> 00:34:56,040 | don't have discipline either. I didn't have that either. In the beginning, I was literally all over the place chasing everything because I felt like there was |
| 186 | 00:34:56,040 --> 00:35:07,380 | going to be something else that made it easier when I discovered the Easy aspect comes through the grueling process of going through and reading price studying |
| 187 | 00:35:07,380 --> 00:35:20,400 | this candlesticks, not, it wasn't counsel expect that it was open high low close bar. But the the randomness of price action, what repeating phenomenon were |
| 188 | 00:35:20,400 --> 00:35:31,890 | taking place. And studying that, and because I was actually taking trades and losing, I was trying to go back and say, okay, somebody obviously made money on |
| 189 | 00:35:31,890 --> 00:35:41,700 | the other side of the street. So how are they doing it? If I'm losing in my live account, and I'm putting money up in unbound grain markets, or on buying live |
| 190 | 00:35:41,700 --> 00:35:52,230 | cattle or lean hogs or, you know, crude oil, gold, or whatever I was, at the time trading? What was I doing wrong? That they could see, that was an |
| 191 | 00:35:52,230 --> 00:36:01,590 | opportunity. And that was one of the biggest epiphanies for me is to go back and see what it was I was referring to. And how if I was to reverse it and say, |
| 192 | 00:36:01,590 --> 00:36:12,870 | Okay, if I didn't look at it with that perspective in mind, okay, if I didn't look at it as if I'm bold, I'm buying it. That's all I was doing back in the |
| 193 | 00:36:12,870 --> 00:36:26,310 | 90s. I was afraid to short, I didn't understand it. So I was a permeable, okay. So if I took along and I got stopped out, or if I didn't use a stoploss, because |
| 194 | 00:36:26,310 --> 00:36:34,080 | I did that a lot in the 90s, I was afraid to put it in the wrong place. So what was the safest way to trade then in my mind, don't use a stop. And I ruined |
| 195 | 00:36:34,080 --> 00:36:42,840 | myself so many times doing that, you have to have a threshold in which this is where I'm wrong. I'm not going to trade anymore. This is where I have to pull |
| 196 | 00:36:42,840 --> 00:36:53,490 | the plug. But I would go back in my trades and start reverse engineering it from the other side, like someone was a bear. And that was one of the biggest |
| 197 | 00:36:53,490 --> 00:37:05,190 | discoveries for me to trust being a short for bear is to see when my own live trades were failing when I was extremely bullish. And I had my biggest positions |
| 198 | 00:37:05,190 --> 00:37:16,470 | on long 20 contracts of soybeans, you know, I'm, I'm really in there, I'm really trying to do what is likely to be a big move, right? So if it craps out, and I'm |
| 199 | 00:37:16,470 --> 00:37:23,580 | stopped out and it goes careening the other direction, I'm going in trying to figure out what it is that I did wrong. And if I was a bearish trader, what was |
| 200 | 00:37:23,580 --> 00:37:37,650 | I looking for that would be there. And one of the patterns that continuously forming is what I literally just gave you all on mentorship, on YouTube, that |
| 201 | 00:37:37,650 --> 00:37:46,890 | pattern of waiting for a run higher, because I would chase breakouts. I didn't call myself a breakout artist, okay, because breakout artists, they would |
| 202 | 00:37:46,890 --> 00:37:54,810 | literally just leave their their stock order above the marketplace and let the market and then not me back then I was scared. I was scared I wanted to see the |
| 203 | 00:37:54,810 --> 00:38:04,710 | market really running, really taking off where a reasonable expectation will be to see the market go maybe two cents above an old high for trading the grains |
| 204 | 00:38:04,710 --> 00:38:17,520 | it's like $100 per contract. It's like it's the same as like an evening. It's 50 hours per cent. But I wouldn't wait for it to move like 15 to 20 cents. Now on |
| 205 | 00:38:17,520 --> 00:38:33,060 | that big candle up. I'd be chasing and buying long there. Well, obviously just static retracements would come back and start scaring and I would move my stop |
| 206 | 00:38:33,060 --> 00:38:42,690 | loss if I had one lower opening up the risk even larger and larger because in my mind I had to be right because it's been going up it was really explosive to the |
| 207 | 00:38:42,690 --> 00:38:45,030 | upside. But |
| 208 | 00:38:46,140 --> 00:38:58,170 | I got wrecked. I got my counterparts handed to me. And what I discovered was this pattern of going above an old high then breaking down and then that |
| 209 | 00:38:58,170 --> 00:39:11,910 | secondary rally up at that time if I hadn't been stopped out. Or if I removed my stop and I weathered that retracement. I would feel like okay I dodged a bullet |
| 210 | 00:39:11,910 --> 00:39:20,850 | there and then I would feel more confident and I'd be in there praying to God helped me get this move past you know this level here keep going up. Just let me |
| 211 | 00:39:20,850 --> 00:39:29,520 | get out of it. Even at that point. I didn't want to be a profitable trader in that trade. I just wanted to be able to survive it and commission which at that |
| 212 | 00:39:29,520 --> 00:39:46,950 | paying $100 per contract let me say it again $100 Every contract Fox investments okay. That's what I was paying as a beginning trader. Everybody was getting |
| 213 | 00:39:46,950 --> 00:39:55,500 | raped back then it was ridiculous. Okay, you guys complain about what you have to pay for your Commission's today. This is peanuts, okay. It's nothing compared |
| 214 | 00:39:55,500 --> 00:40:04,080 | to what we were having to pay back in the 90s. And before that, it was just, you know, they Call it full service brokerage full service. Yeah, they're servicing |
| 215 | 00:40:04,980 --> 00:40:12,330 | the hose without no lube. And I didn't know any better Africa, this is what you're supposed to do. And it wasn't till later on, I moved to Lindwall dock |
| 216 | 00:40:12,330 --> 00:40:18,750 | where it was a little bit better in terms of the Commission's I think it was around like 30 hours round turn, which, even by today's standards is does it but |
| 217 | 00:40:18,750 --> 00:40:29,880 | man coming from 100 hours per contract to 30 hours, it's, it's a big savings. But back to the discussion about how this whole model evolved. During that |
| 218 | 00:40:29,910 --> 00:40:38,640 | return back to the fair value gap that I had no awareness of, I had no awareness of that fair value gap at all. Didn't even stand out in the chart, I had no idea |
| 219 | 00:40:38,640 --> 00:40:47,280 | what it was, didn't see it, it was always in the charts. But I paid no attention to it, because I didn't understand it. But as it went back up into that fair |
| 220 | 00:40:47,280 --> 00:40:55,680 | value gap, I'm thinking, okay, my long trade is going to be able to get me back to a point where I can just get out of it, because I can't stand it. I'm |
| 221 | 00:40:55,680 --> 00:41:05,070 | completely, I'm completely mentally and physically and emotionally fatigued. Now, I don't have any stamina to be in the market anymore, not long, not short, |
| 222 | 00:41:05,070 --> 00:41:15,630 | nothing, I just want to be out of it. Give me a number one, tweet to me number one, right now, if you've ever had that experience, where you're in a trade and |
| 223 | 00:41:15,630 --> 00:41:23,580 | you're just absolutely exhausted, you just want to get back to even, you don't care about being profitable. You don't want to be you know, a net loss on a |
| 224 | 00:41:23,580 --> 00:41:32,520 | trade, but you just, I don't even care if it goes to the moon. But just let me get out of where I got in it. That is what these markets will do to you. That is |
| 225 | 00:41:32,520 --> 00:41:43,230 | the byproduct of a day like yesterday, you have to know what that feels like. And many of you are so new, absolutely so new, that you don't even know that |
| 226 | 00:41:43,230 --> 00:41:55,380 | that's available to you in terms of insight and experience that would protect you. It keeps you from learning how painful that you can blow your account, you |
| 227 | 00:41:55,380 --> 00:42:05,040 | don't need to blow your account folks to to learn these lessons. And that's why I'm mentoring you this way. If you go through these learning episodes, and take |
| 228 | 00:42:05,040 --> 00:42:13,950 | yourself in the market and endure these moments like yesterday, that one day, you can look back and say, well, this, I didn't make any money. This was a waste |
| 229 | 00:42:13,950 --> 00:42:21,630 | of my time. This is a joke. This guy can't trade. This is fair value gap pattern didn't work. His model is broken, it's fake, it's flawed. It's a lot. It's |
| 230 | 00:42:21,690 --> 00:42:32,430 | illogical. You know, he's only hindsight he's this he's that. That's where losing traders do. You immediately go to the toxic excuse as to why it's not |
| 231 | 00:42:32,460 --> 00:42:45,990 | working for you. When the whole concept and point was, go into the marketplace study, what is it doing? How is this going to benefit me? Or, more importantly, |
| 232 | 00:42:46,440 --> 00:42:59,250 | how could I be harmed by this? Because if these environments repeat you, they do if you know what they look like going in, or once you get involved, and you can |
| 233 | 00:42:59,250 --> 00:43:07,800 | identify what it is in terms of a market profile day where it's likely to consolidate and in chop you up? How do you engage with that? How do you trade |
| 234 | 00:43:07,800 --> 00:43:21,390 | it? Well, I give you insights on how to do that. Stop trading off into all throughout the afternoon, wait to that last hour target. And look for a pattern |
| 235 | 00:43:21,780 --> 00:43:31,470 | that makes sense, that run led by stops and pullback to middle range. You don't need it to take out the lows at 39 or 3055. Or what it was, you don't need that. |
| 236 | 00:43:31,650 --> 00:43:35,280 | If it pulls back to the middle range and you sold short, the daily high. |
| 237 | 00:43:36,570 --> 00:43:45,240 | Who's gonna complain about that, I'm sure look around, you'll find some money. But if you're in here trying to find setups that are consistent, even on |
| 238 | 00:43:45,240 --> 00:43:53,040 | consolidation days, you're gonna find that those choppy days if you go back and look at the last hour of trading, many times you're gonna find that opportunity |
| 239 | 00:43:53,040 --> 00:44:01,290 | present itself and sometimes it can go even further in the middle of the range. But it's better to take the bulk of your trade off as you watched me illustrate |
| 240 | 00:44:01,290 --> 00:44:08,880 | in my video last night, it's better to take the bulk of your trade off in the middle because it could stay range bound or like it did with me Come back up and |
| 241 | 00:44:08,880 --> 00:44:14,490 | take my stop which was only on one contract basis. And the majority of everything else was taken off in the middle range and you might even take the |
| 242 | 00:44:14,490 --> 00:44:24,930 | other one off but remaining to took one off in the video of the recording. But back to the discussion of the model. So during my times when I was being a |
| 243 | 00:44:24,930 --> 00:44:39,420 | breakout trader chasing price, so I'm like Johnny come lately. Okay, I'm waiting for it to not only break out bullishly and run up 1520 pennies. Okay, that's |
| 244 | 00:44:39,450 --> 00:44:52,200 | $1,500 Unknown I'm sorry, it's 20 cents, that's 1000 hours. So 750 hours to 1000 hours movement already hired. And then I'm going in and I'm buying. That's what |
| 245 | 00:44:52,200 --> 00:45:02,610 | I was doing back then. Because in my mind as a new trader, no experience whatsoever. Completely. greenhorns. This they're I mean, I was the definition of |
| 246 | 00:45:02,610 --> 00:45:13,320 | absolutely clueless. But I'm gonna live money, way too fast, no idea what I was doing. And I was chasing it because I was thinking, okay, Ken Roberts showed me |
| 247 | 00:45:13,320 --> 00:45:25,680 | in this book that these moves go, like $20 moves, you know, in, in the grains, you can do that, or silver is gonna go up to $50, you know, an ounce, it's every |
| 248 | 00:45:25,680 --> 00:45:36,990 | day, every year, he was promoting that by silver, by silver by silver. And that book really converted me into thinking that every trade I was going to get into |
| 249 | 00:45:37,440 --> 00:45:49,230 | what's going to be these big blowout, huge run up moves. So it was in my mind thinking, hey, I'm gonna wait for the breakout, that initial breakout encourages |
| 250 | 00:45:49,230 --> 00:45:58,080 | me, but then I'm gonna wait, I want to have further confirmation. And a lot of you actually probably had this experience to where you can pretty much see |
| 251 | 00:45:58,080 --> 00:46:06,660 | likely to go. But you don't have the courage to actually go in when it's the best time to get in. You want to wait for it to start moving in that direction, |
| 252 | 00:46:07,080 --> 00:46:14,730 | and give up a half or three quarters of the move. And then you start saying, Okay, well, I can see it's gonna go to that particular level right there. And |
| 253 | 00:46:14,730 --> 00:46:21,960 | then you go into the train. And it might go for you go peace, and those are your wins. They're the ones that you'll feel confident showing your friends on social |
| 254 | 00:46:21,960 --> 00:46:30,030 | media, or your co workers. But you won't share the ones where it retraces against you, which is normal. But you get either stopped out or scared, you |
| 255 | 00:46:30,030 --> 00:46:38,010 | close a trade and then it runs to your objective. And you go away thinking I'm never learned this, you're never going to learn it doing it that way. And just |
| 256 | 00:46:38,010 --> 00:46:44,070 | like I didn't learn how to trade profitably by doing what I was explaining earlier, waiting for the anticipating the breakout, seeing it and then watching |
| 257 | 00:46:44,070 --> 00:46:55,920 | it run even further. And then calling that confirmation. No, that's not confirmation. That is observation of someone else doing it right. And me not |
| 258 | 00:46:55,950 --> 00:47:07,290 | having the understanding the discipline, or the foresight, as I aged when I should have. But when it would go back up into the fear of a gap on my long |
| 259 | 00:47:07,830 --> 00:47:17,610 | after it took out a high, I would be confident that I'm going to get to the point where I can get out of the trade and be breakeven. So what I was doing was |
| 260 | 00:47:18,180 --> 00:47:33,720 | teaching myself to be what? late to the party and never making money. Think about that, apply that scene hardcore in the mirror analysis of yourself. |
| 261 | 00:47:34,290 --> 00:47:44,400 | Because I guarantee you put a number to tweet to me number two. If you've ever endured that or experienced it, and there's no shame in it, it's normal. Because |
| 262 | 00:47:44,790 --> 00:48:00,330 | these markets are a well, in a lot of ways it's a mirror, it's going to show you yourself. And that reflection isn't going to be appreciated by most of you, does |
| 263 | 00:48:00,330 --> 00:48:12,030 | you think you look a certain way, or are a certain type of person. And when you engage in these marketplaces, and you put in your opinion, or you associate your |
| 264 | 00:48:12,030 --> 00:48:24,360 | intellect, to what these little patterns and candlesticks are likely to do next. And young men and women they stick their whole existence and image on the fact |
| 265 | 00:48:24,360 --> 00:48:32,910 | that these candlesticks do something that relates to a profitable or positive outcome |
| 266 | 00:48:34,770 --> 00:48:44,880 | instead of just saying, okay, is this making me money? And how is it going to hurt me. And over time, when I was going back through all my losing trades as a |
| 267 | 00:48:44,880 --> 00:48:57,270 | bull, because in the 90s, as I was doing, I discovered, because the pattern that Ken Roberts was teaching his course, which was not really accurately described, |
| 268 | 00:48:57,450 --> 00:49:09,540 | or titled, but the world's most powerful money manual and course. And it was neither powerful or enabling for me for any profitability. I've never made money |
| 269 | 00:49:09,540 --> 00:49:19,230 | with anything the guy taught. But when I took everything that he talked about, and John Murphy refers to in his book, technical analysis of the financial |
| 270 | 00:49:19,230 --> 00:49:26,550 | markets, I think that is a book that everybody should have not because the stuff in it works but because if you take take that logic and turn it upside down, you |
| 271 | 00:49:26,550 --> 00:49:37,560 | have a 90% winning rate, okay, in back testing, go back and look at all that kind of stuff. And that logic fails. It fails. Trendlines are wonderful when |
| 272 | 00:49:37,560 --> 00:49:50,490 | it's already happened, everybody can do that kind of thing. But the hard walk forward for traders not only on their mind, mentorship, but in any endeavor in |
| 273 | 00:49:50,490 --> 00:50:00,270 | terms of trading this is hard, not because the concepts are, you know, unavailable because they have been obviously explained to you with me makes it |
| 274 | 00:50:00,270 --> 00:50:13,920 | hard is your personal personality, your character flaws, all of us have character flaws. I'm a perfectionist, I have to be perfect. Like I have to be |
| 275 | 00:50:14,100 --> 00:50:25,380 | perfect in my that's what I'm pursuing ever going to get there. But my trades, the things I'm showing, I think they they illustrate, above average, I'm getting |
| 276 | 00:50:25,380 --> 00:50:33,420 | into lows and getting out above old highs, vice versa. Now I'm not doing it all the time I take losing trades. Logic is what I want to go in. And I try to teach |
| 277 | 00:50:33,420 --> 00:50:48,240 | my students, where is the most logical entry point for a trade? And before that, I want to know where is it likely to go. And that is likely to be the outcome or |
| 278 | 00:50:48,240 --> 00:51:00,480 | the terminal to where price is going to be drawn to? can I justify a trade in the in the opposing direction. Because if I can do that, then I still might take |
| 279 | 00:51:00,480 --> 00:51:06,120 | the trade. But I'm not going to trade with four and a half percent leverage behind it, which would be like my competitive leverage gearing. I don't always |
| 280 | 00:51:06,120 --> 00:51:14,730 | trade with that. But I do it to showcase the difference between talkers out there that talk about what they do a market replay, and they in reports that |
| 281 | 00:51:14,730 --> 00:51:24,450 | they can easily be changed and audited, and make adjustments and edit it. You can't do that with TradingView. There's nothing you can't do any of that with |
| 282 | 00:51:24,450 --> 00:51:35,220 | trading view. And you shorts aren't gonna be able to do that when you're trading through a live broker and using trading view as the portal. So that's why I'm |
| 283 | 00:51:35,220 --> 00:51:46,080 | teaching the way I teach. That's why I'm in this trading view. That's why I show you the statements. That's why I show you the results. The bottom line is you |
| 284 | 00:51:46,080 --> 00:51:56,340 | can go out there and chase all kinds of wonderful illusions that a lot of people want to trick you into believing. And yes, I made millions of dollars selling my |
| 285 | 00:51:56,340 --> 00:52:06,660 | education. I don't do that right now. I'm not going to do it again. This is not only eating, I'm not teaching you a little bit to get your mouth wet and say |
| 286 | 00:52:06,660 --> 00:52:18,510 | Okay, now here's the, here's the pitch. I'm not selling anything, nothing. It's been stressful. But I do enjoy teaching. But I want to teach you properly. |
| 287 | 00:52:19,560 --> 00:52:28,590 | Because there's a way to do this incorrectly. And it's everybody out there parroting what I say? They have no idea why I said what I said they just repeat |
| 288 | 00:52:28,590 --> 00:52:39,060 | what I said. And that's why their students get frustrated because they can't get answers to the things that they heard me say they then repeat because they don't |
| 289 | 00:52:39,060 --> 00:52:49,620 | understand why I thought I said. So when I do these long rants and discussions that are very boring. To someone that just wants to get in, give me a stop and |
| 290 | 00:52:49,620 --> 00:52:58,170 | give me a target, I ain't got time for this, I got things that go on and talk about. Those individuals are never going to find longevity or consistency. And |
| 291 | 00:52:58,170 --> 00:53:11,400 | my students, my heart is in them succeeding. And I think if you pay attention to me long enough, you can hear that, like I am passionate about all of you, like I |
| 292 | 00:53:11,400 --> 00:53:24,000 | want you to succeed. What's it going to give me there isn't going to be a mentorship for sale. It's just the enjoyment, the satisfaction of knowing that I |
| 293 | 00:53:24,000 --> 00:53:28,530 | poured myself into individuals on the internet that I'm never likely to meet. |
| 294 | 00:53:29,909 --> 00:53:39,209 | And you have done something to change your entire family tree. And that, to me is amazing. I wish I would have found somebody like what I'm trying to be for |
| 295 | 00:53:39,209 --> 00:53:49,439 | all of you. But I'm not going to sugarcoat this stuff for you. I'm not going to sugarcoat it and say you're going to walk into these marketplaces. And it's |
| 296 | 00:53:49,439 --> 00:53:56,429 | going to be an optimal trade entry every single time you get in it. And you don't need to worry about a stoploss you don't need to worry about over |
| 297 | 00:53:56,429 --> 00:54:07,019 | leveraging. Just do as much as you can afford. Do you understand how irresponsible that would be? I'm telling you I'm promising you that you're going |
| 298 | 00:54:07,019 --> 00:54:16,919 | to lose money. These young guys out there that sell courses and make YouTube videos. You never hear them talk about risk. None of them really put risk |
| 299 | 00:54:16,919 --> 00:54:25,919 | disclaimers in from their videos but they're out there Schollander least Lamborghinis and such. Let me tell you something. When you make for instance, |
| 300 | 00:54:26,429 --> 00:54:39,929 | like $500,000 a week in mentorship pay. Okay. How many Lamborghinis could I have purchased or even leased doing that? For six years or so? How many houses could |
| 301 | 00:54:39,929 --> 00:54:49,739 | I rented and pretended to be somebody on not? How many vacations could I went on? Till pictures and have somebody go around taking pictures? I mean, filming |
| 302 | 00:54:49,739 --> 00:55:01,709 | me. Look at me. I'm flossing. If that was what I wanted to do, I certainly could have done so. And you didn't see you still don't see it. Because none of that is |
| 303 | 00:55:01,709 --> 00:55:12,539 | going to deposit money into your pocket. A lot of you are trying to live vicariously through other guys and gals out there on the internet, doing those |
| 304 | 00:55:12,539 --> 00:55:27,659 | types of things. When I was a younger man, that was my approach. Today, I teach with a really boring, introverted style. Because this is what pays the bills. |
| 305 | 00:55:28,649 --> 00:55:42,119 | This is what's realistic about managing risk. Talking about making money, and not really emphasizing the underlying risk associated to doing this is |
| 306 | 00:55:42,119 --> 00:55:52,019 | irresponsible. And I want you to understand where you're going to lose. I'm telling you, you're going to lose. But I want you to know that it's assuring to |
| 307 | 00:55:52,019 --> 00:56:05,219 | know where these pitfalls are likely to materialize. Some people are not going to want to find value in that, like yesterday's entire drawn out discussion |
| 308 | 00:56:05,219 --> 00:56:17,099 | throughout today is a day that will absolutely do down. Anybody that's talking smack a guarantee, ask them to show their trade statements from yesterday, live |
| 309 | 00:56:17,129 --> 00:56:26,909 | trade statements, they might want to talk smack, Go show it, put it up on YouTube, put it on Twitter, I guarantee you, they won't do that. Because they |
| 310 | 00:56:26,909 --> 00:56:39,149 | probably got chopped out yesterday. I'm sitting here on trying to the best I can possibly be to be an insightful educator and dad to him, and also communicate |
| 311 | 00:56:39,149 --> 00:56:52,319 | the same things to you typing it out throughout the entire day. And he's able to push the button. And he's doing well. He's not been learning how to trade very |
| 312 | 00:56:52,319 --> 00:57:06,269 | long, and we're talking literally less than a month. So he is by no means a trading giant. He's not that great yet. There's a lot of things he's uncertain |
| 313 | 00:57:06,269 --> 00:57:14,489 | about. He's not confident about himself at this point. But his intentions, he says is that once he understands what he's doing, he wants to put a YouTube |
| 314 | 00:57:14,819 --> 00:57:23,309 | channel together. And should he get to this point, I will absolutely invite all of you over there. He doesn't care about trolls. He's not trying to teach |
| 315 | 00:57:23,309 --> 00:57:34,259 | anybody. He just wants to have the opportunity to say, this is what I play with my dad's life's work. And this is what I took myself out of my job with because |
| 316 | 00:57:34,259 --> 00:57:47,459 | I make my kids work menial jobs, you probably work menial jobs I did a lot of them. If you look at my younger life, I had such low income jobs that just |
| 317 | 00:57:47,459 --> 00:57:58,679 | stripped time from me. And I hated it. And I hated every person that employed me. Not because they were bad people. I did have bad employers, but I hated them |
| 318 | 00:57:58,679 --> 00:58:07,349 | because they had control over me my time. When can I do something? When Can't I do something? And what am I getting paid for being here? You're prostituting my |
| 319 | 00:58:07,349 --> 00:58:07,799 | time |
| 320 | 00:58:09,480 --> 00:58:19,830 | for next to nothing. And I have nothing to show for it. So that lesson was important for me. And I forced that on my children. You see these trolls out |
| 321 | 00:58:19,830 --> 00:58:26,910 | there. One guy that says he investments when I was into private investigators ask him what about the chargeback he did for his private investigator because he |
| 322 | 00:58:26,910 --> 00:58:35,730 | couldn't afford the $10,000 for the 10 days that they were recording me. And then he asked them to go on my personal property record through my windows, my |
| 323 | 00:58:35,730 --> 00:58:44,370 | family and wife and children through my windows and then they fired him. And then he did a chargeback on his credit card saying oh yeah, I didn't make these |
| 324 | 00:58:44,370 --> 00:58:56,580 | charges. Potentially. Yeah, we know about that. These people, okay. They're sick. They're not teaching you anything that makes money. They don't make money |
| 325 | 00:58:56,580 --> 00:59:03,990 | for real. They work in in Market Replay because if they could, they'd be taking their amp account right over that trading view and plugging it in. And then |
| 326 | 00:59:03,990 --> 00:59:18,870 | you'd see the results like I just showed my son yesterday. Hello. Shit just got real. Mind daughter does not work in the fucking Chipotle. She managed to |
| 327 | 00:59:18,870 --> 00:59:39,420 | restore. My children are being groomed to appreciate the money they make. On their own steam, I can give them millions. But what have I done? If I die, they |
| 328 | 00:59:39,420 --> 00:59:51,750 | can't make more of it. So I'm giving them a life skill, and I'm burdening them. I had a rough childhood. I appreciate the things I've been given and blessed |
| 329 | 00:59:51,750 --> 01:00:04,920 | with and this insight was not easy coming to me. I went through a lot of hardship. My children will appreciate what they can do on their own. Because if |
| 330 | 01:00:04,920 --> 01:00:14,850 | I give it to them, it's just like any old Christmas present you give to your your children. Oh, it's great for that moment when they tear it open. And 20 |
| 331 | 01:00:14,850 --> 01:00:27,300 | minutes later, they've done forgot about it. The appreciations evaporated a life skill like this. Well guess what it continuously gives over and over and over |
| 332 | 01:00:27,300 --> 01:00:37,860 | again. And that would make me proud this, I hope to get to see all of my children. I'm hoping that when Caleb makes this turning point where he can be |
| 333 | 01:00:37,860 --> 01:00:58,530 | consistent, not have any inspiration by me whatsoever to do this on his own two more minutes and the equities open up that I can join. I want to see that. Like, |
| 334 | 01:00:58,530 --> 01:01:06,630 | it's emotional for me to to see it. Finally one of my kids are trying to do it immediately. They're all waiting for me just to handle money. But I guess like |
| 335 | 01:01:06,630 --> 01:01:17,940 | anybody else's parents when they're with someone that's a fluent. I don't live my life fluently is Have you seen part of that? I live introverted life I try |
| 336 | 01:01:17,940 --> 01:01:29,460 | not to draw too much attention to myself. And hopefully my children follow that same process but my children work menial jobs. Caleb right now brings home $400 |
| 337 | 01:01:29,460 --> 01:01:40,140 | A week at his job comes home sore works in a warehouse making I don't know if it's condiments or something like not ketchup or anything like that. But some |
| 338 | 01:01:40,170 --> 01:01:51,660 | like the name escapes me. Of course, radish is company makes horseradish stir meat. They're known for making horseradish. And others uncoding Cody. He lives |
| 339 | 01:01:51,660 --> 01:02:07,170 | across the street from his stepfather. And they have a trailer that he lives in by choice. He's traded crypto, but he and I you know we're not the closest but I |
| 340 | 01:02:07,170 --> 01:02:19,650 | hope that when he sees Caleb do well it'll inspire him to do same thing. But they're all individual people live in their in their individual lives. And |
| 341 | 01:02:19,650 --> 01:02:27,240 | they're making whatever decisions they're making on their own and the consequences that come from those decisions are about to open up here and about |
| 342 | 01:02:27,240 --> 01:02:39,180 | 15 seconds those decisions are going to bring with them the rewards or repercussions and all of them have been made available like all the things that |
| 343 | 01:02:39,180 --> 01:02:48,870 | I know how to do are made available to them but you're discovering that is not easy as it takes some work and they're young they're in their 20s they they're |
| 344 | 01:02:48,870 --> 01:02:57,120 | not thinking that way I want to pour all that time into that that's going to be worn down by money that's really what they're thinking like 20 year olds do. |
| 345 | 01:02:59,820 --> 01:03:08,250 | Just take a second watching this opening price movement here oh my run on the 39 2950 level |
| 346 | 01:03:36,210 --> 01:03:38,040 | not too exciting this morning so far. |
| 347 | 01:03:50,369 --> 01:04:01,259 | Most device silence after 950 I'm looking at still the five minute chart because there's nothing for me to be looking at in lower. |
| 348 | 01:04:27,599 --> 01:04:47,969 | Now we opened we went down below the 3930 lows just briefly and just a small little movement above the high formed at 835. So, so far, we don't have anything |
| 349 | 01:04:50,069 --> 01:05:01,679 | to work on. Based on bias. I think that it will make sense for them to run the buy side in here because everybody wants that 30 At Five level, everybody's |
| 350 | 01:05:01,679 --> 01:05:11,969 | pointing to everybody, even people that are on Twitter they're looking forward to. So if I was making the market I'd run up to 3950s. |
| 351 | 01:05:21,480 --> 01:05:23,130 | NASDAQ is real heavy and here |
| 352 | 01:05:28,710 --> 01:05:38,250 | it has got stops at less than 1009 60. s&p should be picking up moving lower. Now if it's going to move in concert with the NASDAQ. |
| 353 | 01:05:44,550 --> 01:05:53,610 | Dow you can see it's sloppy. And that's the reason why I don't touch it. s&p is refusing to go lower. |
| 354 | 01:06:18,420 --> 01:06:29,100 | I sent out think about what I was talking about earlier, and how we have this expectation of hunting one sidedness in the marketplace. Does the market show a |
| 355 | 01:06:29,100 --> 01:06:41,700 | one sidedness this morning? No. Even in the opening, it's been not in a hurry to get anywhere. In particular, it's just recently went above and below for near |
| 356 | 01:06:41,700 --> 01:06:51,270 | term liquidity. And it hasn't really moved a lot yet. Now, admittedly, it's only been four minutes, not even four minutes since the opening. But NAS looks like |
| 357 | 01:06:51,270 --> 01:06:55,680 | it wants to take it's 11,009 60 11,009 50 liquidity |
| 358 | 01:07:04,199 --> 01:07:28,169 | no real imbalance on s&p to speak of. No one thing in my mind is the buy side at 4950. But the stops below 3915 and a quarter. Good, they take it down to 3915 to |
| 359 | 01:07:28,169 --> 01:07:35,939 | make them think they're gonna run for the 3055 and then ramp it up into 3950 That would be what I would do that I would absolutely do that. |
| 360 | 01:07:50,190 --> 01:07:53,610 | NASDAQ in striking distance on that 11,009 50. |
| 361 | 01:08:11,760 --> 01:08:28,470 | SAP just not wanting to join the phone. Now, in response to what I was saying earlier about one sidedness. When you have a one sided market gearing where a |
| 362 | 01:08:28,470 --> 01:08:39,690 | low resistance liquidity run for like a run to old high or low was what I'm kind of really trying to teach my store. It'll have a very clear pattern and |
| 363 | 01:08:39,690 --> 01:08:51,030 | expectation. At the opening price, or after opening press opening at 930. You'll get this flurry of price action, like if we were bearish, the ideal scenario in |
| 364 | 01:08:51,030 --> 01:09:01,860 | my mind would have been run up, take the take out that 3950 level and then break down, then come back in for a fair value get an end run for 3915 and a quarter. |
| 365 | 01:09:02,580 --> 01:09:12,120 | That's if I was bearish. That would be the ideal scenario I would have been looking for. And we didn't get that they get a fair shake up for that. This is |
| 366 | 01:09:12,120 --> 01:09:24,360 | s&p Five minute charts. That way you can calibrate on your own 840. That candle is a favorite I got it returned back up into that area. And I mentioned that, |
| 367 | 01:09:24,420 --> 01:09:33,930 | you know, watch that level and we've now started moving lower. So I'm sorry, NASDAQ has blown out it's 11,009 50 level. s&p is about to take that 3915 and a |
| 368 | 01:09:33,930 --> 01:09:50,370 | quarter level. and Dow just looks like a mess. So I guess I don't tree down. It's only 30 stocks that make up that composite index. And those 30 stocks just |
| 369 | 01:09:50,370 --> 01:09:56,610 | don't have as much weight that like the s&p 500 and NASDAQ 100 have |
| 370 | 01:09:59,100 --> 01:10:15,300 | but We want to see one site in this one, we're looking at the marketplace. And if you don't have clear one sidedness, and if you're expecting bearish prices, |
| 371 | 01:10:15,300 --> 01:10:24,600 | the obvious would be the market rallies above the opening price runs to either an old high or rebalances to a fair value gap, then breaks down and goes to a |
| 372 | 01:10:25,440 --> 01:10:35,550 | low resistance liquidity run for sell side liquidity below low. That is, to me what all of you should be hunting for. That's your unicorn, okay, they exist |
| 373 | 01:10:35,730 --> 01:10:46,350 | there in the marketplace. But they don't form every single trading session every single day. You have a handful of those over the course of a week. But apart |
| 374 | 01:10:46,350 --> 01:10:55,260 | from that, you can do little tiny little scalps, they may not have the same level of probability behind them. But if you're getting one for one, and you |
| 375 | 01:10:55,260 --> 01:11:03,870 | know what you're doing, you know, over leveraging yourself, you can grow an account with one to one, you don't need five to 150 to one 200 to one like these |
| 376 | 01:11:03,870 --> 01:11:12,840 | guys on Instagram, and telegram rooms. Yeah, I'm doing. If you ever done the math on these guys, they're old. Okay, but they're claiming they got 500 to one |
| 377 | 01:11:12,840 --> 01:11:27,630 | trades. Why aren't they billionaires? Like seriously? Why if you can do that? Why are you trading with one micro lot with your empty for screenshots? Like, |
| 378 | 01:11:28,260 --> 01:11:39,330 | it's been six months, you should be at least about the standard lot. Now. The things that people believe and swallow just because they see one screenshot or |
| 379 | 01:11:39,330 --> 01:11:51,240 | something is ridiculous. And all I try to do is be a voice of reason. Okay. I could do a lot of those things for real that they're pretending to afford. But |
| 380 | 01:11:51,240 --> 01:12:03,990 | it does nothing to make you a better trader. Thinking about things responsibly, respecting level risk, and doing things that are boring. Trading is boring. You |
| 381 | 01:12:03,990 --> 01:12:12,120 | want it to be boring. Your job sucks, right? Everybody hates their job. You're there. You have to put in the time. It's boring. You'd rather be doing something |
| 382 | 01:12:12,120 --> 01:12:22,260 | else. Trading is like that, too. People say Oh, I love trading. No, you don't. You don't love trading. You love trading when it's profitable. Okay, let's be |
| 383 | 01:12:22,260 --> 01:12:32,910 | real. You don't like trading? You don't love trading? You love winning? Okay, but everybody wants to love trade. I eat sleep. Breathe trading. Yeah, I do |
| 384 | 01:12:32,910 --> 01:12:44,310 | those things. And I hate it. Like, I hate it. I love back testing. I love studying price action. I love that. I hate trading. Why do I hate trading? |
| 385 | 01:12:44,610 --> 01:12:57,900 | Because every single one of these candles that form I'm expecting it to do what I want it to do. Think about that. And I'm being 100% honest with you. I want |
| 386 | 01:12:57,900 --> 01:13:06,690 | every single one of these candles to do exactly what I want them to do. And that is an internal struggle for me. Because I've mentioned many times I'm |
| 387 | 01:13:06,690 --> 01:13:18,870 | obsessively compulsive. So I want things my way. I am an absolute control freak on every aspect of my aim when I look at these candlesticks, it's an internal |
| 388 | 01:13:19,050 --> 01:13:29,460 | armwrestling match when they don't bend to my will. So in my approach to learning how to beat these markets, I had to align myself with how they look. |
| 389 | 01:13:30,300 --> 01:13:40,440 | And I was blessed and fortunate to end up in situations that I was in that I was able to learn what these things do. There are times when I don't know what |
| 390 | 01:13:40,440 --> 01:13:51,600 | they're doing. And it was a hard process for me to learn when that is because when you're young, and you're able to do very, very well very, very easily. |
| 391 | 01:13:52,650 --> 01:14:02,550 | After initial look, it gives you this feeling of invincibility you feel like you can't do anything wrong, you feel like you just walk into and command the |
| 392 | 01:14:02,550 --> 01:14:18,090 | attention of everybody. And it messes with you. So, that sense of arrogance and pride. That was an affliction for me as a young man. That obviously is what goes |
| 393 | 01:14:18,090 --> 01:14:35,580 | on with students they learn from me to get good at it. And then they consoled themselves with pompous actions, okay, and the outwardly, you know, flex and if |
| 394 | 01:14:35,580 --> 01:14:45,630 | you're young and you're doing that kind of stuff, just know that that did not help me It hurt me. And in the world like today, like I would really be popular |
| 395 | 01:14:45,630 --> 01:14:59,010 | if I was the old me and 20s on Instagram. I'd probably be one of the biggest followed person on Instagram in trading circles. Watch the the 3950 levels on |
| 396 | 01:14:59,070 --> 01:14:59,610 | s&p. |
| 397 | 01:15:01,920 --> 01:15:16,860 | Now unbalanced on Spoos. On the downside, it just ran down, didn't get in to the 3915 and quarter level. But we're back above where we opened. Real, real, |
| 398 | 01:15:17,220 --> 01:15:29,580 | choppy, indecisive price action is what I'm saying. But the last thing I want you all to do, if you're young and you're trying to learn this is go out and try |
| 399 | 01:15:29,580 --> 01:15:41,550 | to outwardly express yourself in a pompous manner. Because it's your not your only thing you're gonna do is attract the wrong element, the people that are |
| 400 | 01:15:41,550 --> 01:15:49,470 | just going to look for you to be, how are you going to outshine the last time you did on Instagram? How are you going to outdo the last video you just did |
| 401 | 01:15:49,470 --> 01:15:59,460 | when you showed your house that you're renting, or the last cars that you bought, but you're not showing trades, you're not showing how to go in and help |
| 402 | 01:15:59,490 --> 01:16:09,150 | the viewer. And I'm trying to do that, even in these boring discussions that I have in my videos, I'm giving you those mile markers that you're going to |
| 403 | 01:16:09,150 --> 01:16:24,300 | encounter, given enough time. You going to endure these things. And if you don't have something to lean on, in terms of correcting the direction you're in, or |
| 404 | 01:16:24,330 --> 01:16:37,380 | encouraging you to make a change or endure something. It's unfortunate that people think that that part of the video or that part of my teaching is the |
| 405 | 01:16:37,380 --> 01:16:47,700 | least of importance. And you'll actually see people go in and put little minute marker links to avoid, in my opinion, the real important factors in those |
| 406 | 01:16:47,700 --> 01:16:55,410 | videos. It's not me, pushing a button watching the chart, go to a specific level that's entertaining for you as a new student, because it's like, Oh, I see that |
| 407 | 01:16:55,410 --> 01:17:06,300 | works. That's cool. But the things I'm talking about in the video that everybody else would just kind of like dismiss. That's the thing that gave me the |
| 408 | 01:17:06,300 --> 01:17:17,490 | foresight and trust to stay in the trade. How many times have you taken care of because it didn't move right away for you? Why does that happen? Because you |
| 409 | 01:17:17,490 --> 01:17:25,680 | haven't endured enough back testing. And then tape reading, getting comfortable with the idea of what it is you're looking for. What's the pattern? What's the |
| 410 | 01:17:25,680 --> 01:17:33,300 | framework? Is it repeating? And then once you identify and you grow confident, it repeats to some of you are saying, oh, yeah, it repeats it. ICT says it |
| 411 | 01:17:33,300 --> 01:17:42,030 | repeats. Do you know what the repeats personally? Have you done the work? Don't take what I say and run around thinking that's the gospel. I'm telling you go |
| 412 | 01:17:42,030 --> 01:17:51,390 | out there and prove it to yourself. Because once that nobody's going to convince you. And that's why people say it's like a cult here. If this is a cult, you're |
| 413 | 01:17:51,390 --> 01:18:02,460 | welcome to leave. Okay, Nobody's holding you here. There's no Kool Aid, you know, exit strategy here. You're all welcomed to stop writing, or stop listening |
| 414 | 01:18:02,460 --> 01:18:12,000 | to me. But if you want to learn how I'm doing it, I'm literally giving you everything I'm telling. I'm telling you, what goes on in my mind, what the |
| 415 | 01:18:12,030 --> 01:18:19,590 | hurdles that you're going to encounter, and how to overcome them. If you choose not to listen to it, don't be upset and you don't get the result you're looking |
| 416 | 01:18:19,590 --> 01:18:25,020 | for. So it's 945. |
| 417 | 01:18:32,070 --> 01:18:49,710 | I'm just looking at this equity here. And downs come back up into its opening range, the s&p was unable to take that 3915 and a quarter low out. NASDAQ did so |
| 418 | 01:18:49,710 --> 01:19:03,180 | again we have a divergence at the lows on s&p against the NASDAQ NASDAQ went lower as the P failed to go lower. And went on to specifically if you look at |
| 419 | 01:19:03,180 --> 01:19:24,420 | the candle at 935 The s&p failed to make that lower low than that of 250 to 250 is low and s&p is been kept in place. But the three o'clock in the morning low |
| 420 | 01:19:24,420 --> 01:19:28,140 | on NASDAQ has been swept out |
| 421 | 01:19:39,870 --> 01:19:45,330 | Yeah, I wouldn't be I'm not interested in today |
| 422 | 01:19:51,000 --> 01:20:07,590 | no news. It's a Friday. Most of the range for the week has been put in on Thursday. And everybody wants 3855 So everybody, let's, let's talk like, retail |
| 423 | 01:20:07,590 --> 01:20:18,570 | for a second. Okay. Let's say you were fortunate enough to be short from Tuesday or Monday or earlier in the week. Or, I'm sorry, Thursday, say you were lucky |
| 424 | 01:20:18,570 --> 01:20:34,470 | enough to get to high on on Thursday and wrote it down. It's Friday. What do you want to do going into the weekend? You want to get paid, right? So that squaring |
| 425 | 01:20:34,470 --> 01:20:45,030 | up positions, if you don't want to think about the logic that I teach, okay, the sales retail module, would you reasonably assume and expect that short covering |
| 426 | 01:20:45,120 --> 01:20:52,800 | should come into the market today. Because to get out there short, they got to do what they have to buy, right. So if the market fails to go lower, and you |
| 427 | 01:20:52,800 --> 01:21:01,560 | believe it's buying pressure that moves price up, I'll talk in those terms. That way, you can understand what I see in price today. That way, I'll talk to you |
| 428 | 01:21:01,560 --> 01:21:09,150 | with retail logic. So that way, if you don't want to subscribe to the conspiracy ideas that I get labeled with, well, this call it it's probably gonna be short |
| 429 | 01:21:09,150 --> 01:21:18,630 | covering today, it probably won't go lower, and disrupt those people that want to see that 3055 Because everybody, everybody wants it. It's already talked |
| 430 | 01:21:18,630 --> 01:21:31,980 | about on every medium, and areas. So if it doesn't go down there, and people are covering short, what is likely to be taken by stops. Okay, so I'm not trading |
| 431 | 01:21:31,980 --> 01:21:41,820 | today, I'm not entering, I only have a trade entry forming in my charts right now, just sloppy opening range trading. But that 3950 level, this looks like |
| 432 | 01:21:41,820 --> 01:21:54,330 | it's just too easy. Like they can make it take that and two candles and go on. So I'm not interested in taking anything today. I've had lots of video work that |
| 433 | 01:21:54,330 --> 01:22:05,130 | are still complete with my other group. So I have things I want to take care of today. But I really appreciate you hanging out with me this morning. And I'm not |
| 434 | 01:22:05,130 --> 01:22:18,960 | sure it wasn't insightful to you if it was helpful to you. But I meant to yesterday, with my son being here, I wasn't able to test my live streaming go, I |
| 435 | 01:22:18,960 --> 01:22:27,780 | gotta check that out and see if I can do that. So I'll probably end up doing that really late tonight. So if I wake you up, or if I disturb you, in your |
| 436 | 01:22:27,780 --> 01:22:35,430 | evening affairs, or that it's not me trying to be on live session for a long period of time, I'm only going to go in there long enough to just test that I |
| 437 | 01:22:35,430 --> 01:22:45,360 | can see my screen, and that I can hear myself and should that work. Monday, my intentions are to sit down that I don't want to be doing this. Because this to |
| 438 | 01:22:45,360 --> 01:22:48,150 | me is it's not |
| 439 | 01:22:56,820 --> 01:23:05,820 | sorry, I'm looking depressed. It's not something I want to do. Like I feel disconnected because I got a phone face than me and my face. And then I've got |
| 440 | 01:23:05,820 --> 01:23:14,130 | my charts in front of me. I feel like I'm plate spinning. So it'd be just easier for me to have my chart in front of me and point to it and but I wanted to give |
| 441 | 01:23:14,130 --> 01:23:26,220 | you the exercise of yesterday sitting in there and internalizing the struggles that would be associated with the day like yesterday I think that's going to be |
| 442 | 01:23:26,220 --> 01:23:43,560 | it and we will close our session now. I think if I do this right little the little toggle box I did for you the Twitter space it says toggle to record it. |
| 443 | 01:23:45,480 --> 01:23:55,770 | If all of you that know how to do this would have I'm going to ask you a question and just reply to it or send me a tweet to mongers most recent rather. |
| 444 | 01:23:56,700 --> 01:24:11,790 | I think it was Yeah, reply to my tweet. Most recent one and tell me how I make sure everybody can hear this because I don't know how to do it. I know I know |
| 445 | 01:24:11,790 --> 01:24:19,530 | when I'm closing it when I stopped this will everybody be able to see it or access it? I don't know. |
| 446 | 01:24:28,380 --> 01:24:31,410 | Waiting for someone to tell me exactly how to make sure everybody gets it |
| 447 | 01:24:39,030 --> 01:24:54,090 | back thank you very much for that letter telling me it automatically saves. So, is it my understanding that I close it The link will be made. I have it toggled |
| 448 | 01:24:54,090 --> 01:24:54,660 | to record |
| 449 | 01:25:06,600 --> 01:25:15,390 | Alright, we're gonna find out what happens. I'm gonna end the session here. If it gives me an opportunity to like tweet it or whatever. That's what I'll do. If |
| 450 | 01:25:15,390 --> 01:25:27,060 | not, thanks for hanging out. And I guess I'll talk with you by way of YouTube lately. Just a reminder, I'm not doing videos on YouTube every single day. I |
| 451 | 01:25:27,300 --> 01:25:36,990 | promise that this week, but we'll resume what the normal schedule on Tuesday and Thursday next week on board. Enjoy your weekend. Thanks for hanging out. Be |
| 452 | 01:25:36,990 --> 01:25:37,620 | safe. |