006-ict-tw-spaces-20230121-Risk-Management-Within-Trade-Management
Last modified by Drunk Monkey on 2023-02-03 05:58
Outline
00:24 - Why I don’t move my stop loss back once I trim the risk.
04:08 - Management of a stop loss -.
11:54 - How to use a stop loss correctly when the market is gyrating.
14:51 - Get for the Day - 3940.
21:54 - If you get stopped out, that’s a partial of your equity that you just lost -.
25:56 - You have to manage the person that’s pushing the buttons -.
32:47 - What is wrong with you if you don’t admit when you are wrong?
40:45 - High resistance, low resistance, and liquidity run signatures.
44:44 - You don’t know what you’re doing to your overleveraged three -.
51:00 - What happens if you don’t take anything off.
54:32 - When you start trading with real money, you’re going to discover something about yourself.
01:01:34 - Take it back with vengeance -.
01:04:50 - The uncomfortable things that trading will bring and how you react.
01:10:47 - How will you know when you’re about to find out your spouse cheated on you?
01:16:28 - When you’re trying to distract yourself from what’s going on, you are trying to make the market go up.
01:19:57 - When you feel uncomfortable and it starts physically manifesting in you, trade through partials.
01:27:35 - You’re not managing your trade -.
01:30:03 - If you want to be a victim of them, get in at Robins Cup.
01:35:37 - You’re going to have struggling points in your learning and the best thing you can do is expect them.
01:40:33 - Get out of the trade as soon as you start worrying about the outcome.
01:43:08 - When you’re 50, you have a stroke.
01:49:30 - When you’re trying to exert your will in a toxic relationship.
01:53:12 - Why you have to treat your bad trades as if they are gambling -.
02:00:04 - Do it for the rest of the year and then at the end of the Year show it.
02:03:54 - You can’t just kill it, you have to guard your mind.
02:11:26 - What is a High Resistance Liquid Run? -.
02:18:43 - If my uncle taught me how to trade, who cares?
02:22:16 - Keep your payments up-to-date.
02:27:39 - You don’t need to go through all of that to get to this point.
02:31:13 - Why don’t you just start trading sooner?
02:36:47 - Why the markets are choppy right now.
Transcription
| 1 | 00:00:24,990 --> 00:00:39,240 | ICT: Good afternoon, folks. hope everybody's doing well. Good Friday. So we are looking at a market that has been all over the place this week. And I kind of |
| 2 | 00:00:39,240 --> 00:00:54,360 | like want to talk a little bit about something I did today, that has obviously brought a lot of questions up, folks send me emails and such about why I was |
| 3 | 00:00:54,360 --> 00:01:05,550 | taking off the singles in the last portion of the trade ahead this morning. And I want to make sure that you understand why I don't move my stop loss back once |
| 4 | 00:01:05,550 --> 00:01:15,480 | I once I trim the risk. And this is one of the rules that you want to have going forward in your trading as well, you don't want to be doing a lack of a stop |
| 5 | 00:01:15,480 --> 00:01:25,530 | loss, you see that folks out there. That isn't number one reason why most people won't show you their live executions, the trade management because they're |
| 6 | 00:01:25,530 --> 00:01:33,600 | either not using a stop loss, or they're doing it poorly, most of the time, they're not using a stoploss. And that, to me communicates a lack of |
| 7 | 00:01:34,260 --> 00:01:44,670 | understanding what they're doing tends to lead to probably risking too much. And the bottom line is they don't know where to place a stop loss. I have no problem |
| 8 | 00:01:44,670 --> 00:01:54,210 | being stopped out, I have no problem getting the trade wrong. But I do have a problem with opening up my stock once I trim it. So if the stock has been |
| 9 | 00:01:54,210 --> 00:02:08,910 | reduced, as the trade moves in my direction, and the trailing stop loss up closer to pair, the total risk that would be opened at the time of entry, before |
| 10 | 00:02:08,910 --> 00:02:23,370 | making the stop loss become either breakeven or locking in something for profit. Either or once I move it, it never gets taken the other direction like I'll take |
| 11 | 00:02:23,370 --> 00:02:35,250 | it move it up five handles and say Oh, well, you know, it might get my stop. I mean, let me drop it down three, from the five, I just moved it or whatever. I |
| 12 | 00:02:35,280 --> 00:02:46,350 | commit myself to that. And that has helped me over the years frame a better understanding about where I want to move my stop. And it makes it more |
| 13 | 00:02:46,350 --> 00:03:01,890 | disciplined for me to adhere to a rule based idea about not opening up risk once I trimmed it down. And today, you watched it in an example from this morning, I |
| 14 | 00:03:01,890 --> 00:03:10,290 | moved my stop loss up, I have no regrets about it, even though the market didn't move up higher, was unable to do anything in the afternoon. I'm sure some of you |
| 15 | 00:03:10,290 --> 00:03:18,660 | are thinking, Oh, he hit the reset button. What I'm showing, okay, because there's a lot of talkers out there that can't find profitability in their live |
| 16 | 00:03:18,660 --> 00:03:31,530 | streams. So instead of dealing the Robins cup out finding profitability first, Vincent, and then we'll talk about Robins. Second, Sam, join the Robins cup for |
| 17 | 00:03:31,530 --> 00:03:46,770 | real. I promise you, I'll do 25 times whatever you do, if I don't, I'll delete my YouTube channel. How's that? That straightforward for you. Now, with that out |
| 18 | 00:03:46,770 --> 00:03:52,470 | of the way, I promise, you won't hear any more about it on this one. But you probably hear more of it later on every weekend. It's gonna be Sleepless in |
| 19 | 00:03:52,500 --> 00:04:05,910 | Allen, Texas tonight. So if we look at moves like today, and you're probably looking at that morning, move where the market dropped, the bottom fell out of |
| 20 | 00:04:05,910 --> 00:04:21,330 | it real quick. That's a Judas swing. Okay, and you can clearly see in my markup, the execution. I saw it as such. If you're zoomed in, okay, and this is going to |
| 21 | 00:04:21,330 --> 00:04:31,950 | go in the same thought process of the management of a stop loss. Okay, when you're zooming in on your charts, and this is what I see a lot of the students |
| 22 | 00:04:31,950 --> 00:04:43,740 | aren't if they're trying to make sure they have a specific candle in the photograph or the screenshots, but they're zoomed in so close. You can't really, |
| 23 | 00:04:44,280 --> 00:04:53,970 | you can't really measure what's going on. So when I'm looking at my charts, I have a lot more data showing. And I think that's the number one reason why |
| 24 | 00:04:53,970 --> 00:05:02,880 | folks, they get disoriented from what I'm showing they think that everything that I have in the screen is part admit to the very setup that I'm trying to |
| 25 | 00:05:03,390 --> 00:05:14,550 | engage in. And that's not the case. But I am showing it to that way, at least in the presentations because on Twitter once I compress it and speed it up, I lose |
| 26 | 00:05:14,550 --> 00:05:26,490 | some resolution, even though I'm screen capturing it with a lot of resolution on monitors are kind of big. So when it goes into compression for Twitter, you lose |
| 27 | 00:05:26,490 --> 00:05:36,240 | a little bit resolution unless I make the chart a little bit closer than normal. You really can't appreciate the clarity of what price is doing at each candle |
| 28 | 00:05:36,330 --> 00:05:46,950 | and how it paints. So you want to have at least enough in your charts when you're watching it. And also, you shouldn't be trading on your phones. Okay, I |
| 29 | 00:05:46,950 --> 00:05:58,110 | saw a gentleman. I'm assuming it's a gentleman. Forgive me if it's not. Someone tweeted to me say Hey, can you? Can you give me a phone? So I can trade? First |
| 30 | 00:05:58,110 --> 00:06:06,000 | of all, I wouldn't buy your phone. So you can trade. Okay, you should not be trading on your phone. Even though you see me sometimes. Early in the morning, |
| 31 | 00:06:06,000 --> 00:06:15,090 | before I get out of bed, I might do something in screen capture it. That's just me highlighting something but you should not be ever making financial decisions |
| 32 | 00:06:15,630 --> 00:06:24,780 | in your trading with applications on your phone, like moving a stop loss managing a position while you're on the go it Okay, yeah, it's fine. But doing |
| 33 | 00:06:24,780 --> 00:06:37,500 | analysis on your phone, and trading from your phone. Yeah, that's a recipe for disaster. Because you're you're looking through such a small lens, and not |
| 34 | 00:06:37,500 --> 00:06:46,890 | really taking in enough information. So that's the reason why I have as much data on my charts, when I'm showing my examples, I want you to understand where |
| 35 | 00:06:46,890 --> 00:07:01,260 | we are in within the price run where we are in the previous dealing range. So it helps you understand why I'm not in a rush to raise my stop loss up. I'm more |
| 36 | 00:07:01,260 --> 00:07:11,880 | concerned about watching where prices going, then that of protecting the fact that I might get stopped out and have a losing trade. Now that's number one rule |
| 37 | 00:07:11,880 --> 00:07:24,090 | always preservation of capital, but clout and saving face publicly is the number one rule for most people on social media today. They don't want to do anything |
| 38 | 00:07:24,090 --> 00:07:36,990 | that might be viewing them outwardly. From outside perspective, other ones that we may be looking at you or them could be very judgmental. And that is many more |
| 39 | 00:07:36,990 --> 00:07:49,170 | times costly and expensive and painful than that have a losing trade. And you would have done a privacy of your own trading without making your results |
| 40 | 00:07:49,170 --> 00:07:59,010 | public. And there are lots of folks right now that are wrestling right now because they want to stand out, they want to shake their sword and stand up and |
| 41 | 00:07:59,100 --> 00:08:12,030 | rattle Rouse. And they're hanging around and breakeven. And we're in drawdown, but only one, quote unquote, profitably for the entire month so far. And they've |
| 42 | 00:08:12,030 --> 00:08:26,550 | allowed us to talk. And they'll tell you that you're not going to hear sound good advice here. When I execute on the sound good advice that I teach. So when |
| 43 | 00:08:26,550 --> 00:08:38,790 | you watch a video by me, okay, consider how much information I have on the chart. Because it's pertinent to you get into higher timeframe perspective, |
| 44 | 00:08:39,510 --> 00:08:50,130 | everything that salient unless I'm doing like, what do you see? Like I'm zeroed in on a small little segment of a price fractal at that time. But when I'm doing |
| 45 | 00:08:50,130 --> 00:08:58,830 | a trade, and I'm managing the trade, I'm allowing you to see all of the information that I believe that will be useful to you. Because I teach grading |
| 46 | 00:08:58,830 --> 00:09:09,780 | price swings. You want to be able to go back and look at the dealing range that I'm operating in. And if you have a phone, or if you have your charts on your |
| 47 | 00:09:09,780 --> 00:09:20,340 | laptop or your computers and if you have multiple monitors, if you're so zoom, so zoomed in that you can only see a small little segment of price action. How |
| 48 | 00:09:20,340 --> 00:09:38,970 | can you how can you fully trust what you're seeing on the next few candles is going to be something that is limiting your trade or putting a cap on it |
| 49 | 00:09:39,060 --> 00:09:50,910 | prematurely because you're so zoomed in. You're losing sight of something that will be a longer term objective. Now I learned that lesson very painfully and |
| 50 | 00:09:50,910 --> 00:10:04,590 | costly. losing trades that were winners, holding on to really good trades too long. Because I had my charts zoomed in too tight. And over years and years and |
| 51 | 00:10:04,590 --> 00:10:12,780 | years of just saying, I gotta take a step back from this and seeing the charts better than I do now, oh, not better than I do now, but better than I did, then |
| 52 | 00:10:13,020 --> 00:10:22,830 | I could see it now better because I allow for more information. And also, I mentioned this several times in my discussions in lectures, and even on Twitter |
| 53 | 00:10:22,830 --> 00:10:23,430 | spaces. |
| 54 | 00:10:24,750 --> 00:10:34,260 | Periodically, when you're in a trade, especially if you feel like you're second guessing it, like if you're in a trade, it's moved. And you just don't know for |
| 55 | 00:10:34,260 --> 00:10:46,650 | sure it's gonna keep running. Still step away from your chart. Put your laptop, maybe on a coffee table or dining room table, take it, take a little bit of a |
| 56 | 00:10:46,650 --> 00:10:56,370 | distance between you in it and look at it further away, put more data on the chart, and then kind of get a feel for where you are, at that moment. Many |
| 57 | 00:10:56,370 --> 00:11:05,100 | times, it'll give you a different perspective. And you'll see if you understand how to read price action, you'll see that what you're fearful of because you're |
| 58 | 00:11:05,100 --> 00:11:15,420 | so zoomed in, and you're watching that one or five minute chart. And it's fluctuating around a lot because you you're zoomed in, and it causing your brain |
| 59 | 00:11:15,450 --> 00:11:26,430 | to pump out this adrenaline and or up to the point of releasing cortisol, which is a stressful hormone. In the last Twitter space, I talked about managing |
| 60 | 00:11:26,460 --> 00:11:35,700 | anxiety attacks and panic attacks. And when you're in trades, whether they're profitable or losing, you're pumping chemicals constantly into your bloodstream. |
| 61 | 00:11:37,320 --> 00:11:51,540 | And if you are not used to that incurred risk, while trading, it can cause you to be number one emotional, psychologically, you amped up, and you're going to |
| 62 | 00:11:51,540 --> 00:12:06,450 | make something that is very insignificant. Paramount, it's going to be a huge thing when it isn't. And typically, for those that want to use a stop loss |
| 63 | 00:12:06,930 --> 00:12:18,360 | correctly. We're not concerned about ramming up the stop real quick to lock in anything. Because we're allowing the market to move around and gyrate and you |
| 64 | 00:12:18,360 --> 00:12:26,910 | watched the trade this morning that I've had, I had a very specific fair value gap that I did not want to see. Come back into I certainly didn't want to see it |
| 65 | 00:12:26,910 --> 00:12:40,020 | close. That that fair begun. So when My stop was trailed up, it was trailed up to the bottom of the Faraday gap that I did not want to see. Fill in my |
| 66 | 00:12:40,020 --> 00:12:54,720 | annotation in phire gap was it must remain on unfilled for me to trust it because it's a Friday. Everybody else wanted to go short. They gave you the |
| 67 | 00:12:54,720 --> 00:13:09,360 | carrot this morning, right at 930. They dropped the real quick took it away the nine o'clock low sell side was purged the 630 lo purged everything. Everything |
| 68 | 00:13:10,050 --> 00:13:12,420 | looked like it was a sell to anybody looking at that chart. |
| 69 | 00:13:17,429 --> 00:13:31,049 | Typically, on Fridays, there will be a resume. Now resume, it'll be a return back into the weekly range. So what's the weekly arrangement this week down? So |
| 70 | 00:13:31,049 --> 00:13:44,009 | it's going to do what likely retrace up into that weekly range 20 to 30, maybe 40% of the range. So whenever I see a Friday, slammed down after a bearish week, |
| 71 | 00:13:45,059 --> 00:13:56,639 | my mind immediately jumps to okay, we've already hit so many discount arrays and always targets on the low end. It's reasonable to expect this is manipulation. |
| 72 | 00:13:58,409 --> 00:14:09,329 | So that dropped down at 930 on Emini, s&p. That to me signaled okay, this is we're done. But I didn't want to go in and try to catch a falling knife and you |
| 73 | 00:14:09,329 --> 00:14:19,799 | watch me do that. The other day yesterday, that wasn't altogether something different this. This could be me reading it as it's a Judas swing, it's Friday, |
| 74 | 00:14:19,799 --> 00:14:30,539 | it might retrace back into the weekly range. And if I tried to go in there and try to buy the low and it could just keep dropping. So I required a little bit |
| 75 | 00:14:30,539 --> 00:14:41,639 | more I need to see it get back above nine o'clock low and I need to see it, create a fair value gap. And you watch that form I drew it out. It was retracing |
| 76 | 00:14:41,639 --> 00:14:56,429 | back down into that before it'll be 10 o'clock hour. So accumulated multiple positions using the fair value gap. Stop loss was not rushed. But once it starts |
| 77 | 00:14:56,429 --> 00:15:11,429 | approaching the second target in my second part Get for the day was 3940 and three quarters. That level is an old high we're looking for obviously, the |
| 78 | 00:15:11,429 --> 00:15:23,669 | public to be armwrestling Smart Money Smart Money is going to pressure on Friday the street money, the Street Money sees what all week long the market and going |
| 79 | 00:15:23,669 --> 00:15:31,349 | down is going down, it's going down. And their mindset, their thinking, Okay, it's been going down. Nobody wants to miss out on the move going over the |
| 80 | 00:15:31,349 --> 00:15:39,449 | weekend, because it's probably going to be lower on Monday. So let's get short. So there's a there's an arm wrestling match. From a sentiment Perspective |
| 81 | 00:15:39,509 --> 00:15:49,439 | Perspective. You have the informed money straight money against those individuals, they're just trying to catch up. They missed the move. So therefore |
| 82 | 00:15:49,439 --> 00:16:01,349 | they must do what do what everything and everyone has done to be profitable for the week, which was be net short. And whenever he dropped the market real quick |
| 83 | 00:16:01,349 --> 00:16:13,049 | and sudden, just like that going into the open. CNBC, Bloomberg, everybody's gonna be chattering. Futures are down looks like it's going to be a ugly |
| 84 | 00:16:13,049 --> 00:16:28,949 | morning. What does that tell the retail trader? They better get short. The markets going down, get ready for it. I, on the other hand, am expecting TGIF |
| 85 | 00:16:29,999 --> 00:16:39,929 | thank God, it's Friday. Okay. What that means is it's a little quirky expression for the likely of the likelihood of a retracement back into the weekly range. So |
| 86 | 00:16:39,929 --> 00:16:50,429 | the weekly range has been majority lower. So it's going to do what retrace back up into that range a little bit 20 to 30%, as much as 40% of the weekly range. |
| 87 | 00:16:51,839 --> 00:17:04,379 | Now once I see the move, start panning out if you haven't watched the video I've uploaded on Twitter. I've already shared it, it's been recorded. You can watch |
| 88 | 00:17:04,379 --> 00:17:15,809 | me manage it, I give you my views about it. And it's actually trading in a high resistance liquidity run. Now, you've probably heard this term, low resistance |
| 89 | 00:17:15,809 --> 00:17:25,919 | liquidity run. That's what I teach my students. That's what I like to trade in those environments where it's just really, really easy to get in, get the stock |
| 90 | 00:17:25,919 --> 00:17:38,669 | placed it quickly run through your profit objectives and partials. And usually the trades over like pretty quick. high resistance liquidity runs have much more |
| 91 | 00:17:38,669 --> 00:17:50,249 | deeper retracements they tend to consolidate a lot, they chop around and move a little bit, go to a new level and consolidate and chop and move again. That is a |
| 92 | 00:17:50,249 --> 00:17:59,189 | high resistance. It doesn't mean obviously you can see I can find profitability in that. But I try to steer my students when they're first learning away from |
| 93 | 00:17:59,189 --> 00:18:07,379 | these market conditions. Now you might think and I've read several people over the last few days, they're chit chatting. And in tweets. They'll say, I can't |
| 94 | 00:18:07,379 --> 00:18:14,189 | really learn from these videos, when Michael puts them up or with the music. It doesn't serve any purpose. Well, you're wasting your time then. Because you need |
| 95 | 00:18:14,189 --> 00:18:24,209 | to go into the examples I'm showing and study why those areas are being used for me when I'm taking a pyramid entry. And when I'm building my position larger. |
| 96 | 00:18:25,229 --> 00:18:33,779 | Why was I buying or selling where I was selling? Why was that taken my partials where I was taking them. Look at the daily chart, the weekly chart, the four |
| 97 | 00:18:33,779 --> 00:18:40,289 | hour, the one hour to 15 minute timeframe. Don't just look at the example I'm showing with that one minute chart and think well, that's all there is to it. |
| 98 | 00:18:41,159 --> 00:18:52,109 | You're ignoring the opportunity for you to discover much more about why I was doing it. Because it's not it's not only on a one minute chart, the one minute |
| 99 | 00:18:52,109 --> 00:19:06,389 | charts, it's allowing me the medium or timeframe to engage in. It's not just the one minute chart. Okay, there's other things that are there that you need to |
| 100 | 00:19:06,389 --> 00:19:14,819 | understand has been taught on this YouTube channel. And by doing that, that, that work of going in and saying okay, he showed this so he took the initiative |
| 101 | 00:19:14,819 --> 00:19:24,329 | to do this, because it's not showing off, I can do a better job of showing off. This is me teaching you by example showing you executions, trade management, and |
| 102 | 00:19:24,329 --> 00:19:37,259 | also showing you like today when we were in the 1030 time window going into 11 o'clock. It was stalling just below the 3940 level after had already swept it. I |
| 103 | 00:19:37,259 --> 00:19:48,569 | took my partial five contracts above that. So for contracts off it 3933 and three quarters. So I had the majority of the trade already booked, stops rolled. |
| 104 | 00:19:49,979 --> 00:20:02,249 | But because once I roll my stop up, and I'm long I've taken two partials. I'm already in my opinion in a position of I don't care, I have a free look. Now, I |
| 105 | 00:20:02,249 --> 00:20:17,519 | have a free look to see if it goes to my Terminus my my best case exit strategy, which would have been 3945 and a quarter. So if it could get to that level, that |
| 106 | 00:20:17,519 --> 00:20:32,429 | would be my morning session I'd be done. As the market consolidated between 1030 and 11 o'clock I was annotating saying, okay, it needs to move now you can see |
| 107 | 00:20:32,429 --> 00:20:41,069 | it in my annotation. So okay, it needs to do this right now it needs to do this, I need to see speed and needs to be sharp and needs to run higher. And there |
| 108 | 00:20:41,069 --> 00:20:49,889 | were several times that I wanted to see that happen in price, and it didn't do it. So I had five contracts remaining on the position. So what do I do? Start |
| 109 | 00:20:49,889 --> 00:21:02,369 | scaling off one. So what am I doing? I'm managing number one. Trade expectations. I was watching the the guy I've turned a lot of you guys on to |
| 110 | 00:21:02,909 --> 00:21:13,199 | Patrick Weiland. He's live streaming over here on YouTube. And I was watching him in and I had to leave. But I was listening to him as I was driving. And he |
| 111 | 00:21:13,199 --> 00:21:21,449 | was squirming. And I'm not making fun of you, Pat, I'm just saying, This is typical. When you want the market to run in your favor you want you can't stand |
| 112 | 00:21:21,449 --> 00:21:29,849 | it like it's like, come on, please, please, please go for me, go for me go for me. The best thing you can do, if you feel that, and it's not going to feel like |
| 113 | 00:21:29,849 --> 00:21:37,649 | this is the best thing. It's not going to feel like it's the thing you should be dealing. But if you have enough a position to take something off. That's what |
| 114 | 00:21:37,649 --> 00:21:46,169 | you do. And I know he doesn't like partials because he thinks it's not worth having the initial risk. And I understand that's the same argument to other |
| 115 | 00:21:46,169 --> 00:21:55,739 | people on Twitter and YouTube and Facebook, they had the same thing, but partials profit. Okay, I don't understand the argument. If you get stopped out. |
| 116 | 00:21:57,359 --> 00:22:10,259 | That's a partial of your equity that you just lost. I mean, think folks think, no, I don't want to take any profits. Now doesn't make any sense to me to take |
| 117 | 00:22:10,289 --> 00:22:19,409 | something out and pay myself for all the time and effort and energy and attention I've placed on this engagement here. No, I don't want to do that. It's |
| 118 | 00:22:19,439 --> 00:22:34,079 | all or nothing. To me. That doesn't make any sense. That makes absolute zero sense to me. Are you going to work? Monday, Tuesday, Wednesday, Thursday, and |
| 119 | 00:22:34,079 --> 00:22:46,919 | then say, Okay, I got a flat tire. I can't make it to work on time. I'm tied up, can't get to work. I got a call out on Friday. And then Hey, Hey, boss, listen, |
| 120 | 00:22:47,789 --> 00:22:57,029 | I couldn't do Friday. Just keep keep everything I put in to let me go home with nothing. That's what that's what trading. That's exactly what trading is, |
| 121 | 00:22:57,149 --> 00:23:05,129 | without taking partials when you're given the opportunity to be paid. That's the equivalent of that. Does that make any sense? That's asinine. |
| 122 | 00:23:07,530 --> 00:23:18,600 | You are going to struggle when you first start learning how to do this. So it is advantageous for you to know where you're trying to take profits. So that way, |
| 123 | 00:23:18,600 --> 00:23:28,050 | you know what it feels like. You get accustomed to dealing over and over again. And that's why I teach. And I preach that when you're new, you should strive to |
| 124 | 00:23:28,050 --> 00:23:38,100 | get five handles. Not that that's your entire career. That's not what I ever I've never said that. But you can make a career on that. Don't let anybody tell |
| 125 | 00:23:38,100 --> 00:23:44,700 | you, you can't make a career on five minutes. I'm gonna tell you something, I could do that every single day and show you that account, a live account, a |
| 126 | 00:23:44,700 --> 00:23:52,740 | funded account, robins cut wherever the fuck you want to do. I can beat Robins cut with five handles. All you got to do is find your as in that leaderboard. |
| 127 | 00:23:53,100 --> 00:24:01,140 | Okay, that's all I'm asking you to do. Don't waste my fucking time talking. Don't talk, get up there and then talk. Because once you call me out and you |
| 128 | 00:24:01,140 --> 00:24:16,110 | tweet to me, everybody's gonna fuck and see it clowns, and I will rip your shit apart. Sorry. But you have to have a you have to have a target a goal. Something |
| 129 | 00:24:16,890 --> 00:24:29,130 | because here's what you don't realize. You might have a good edge, you might have a good role you might be dialed in and your attention to detail is keyed |
| 130 | 00:24:29,130 --> 00:24:37,590 | up, you know exactly what you're doing. And you've been consistent for a day, a week, a month, a couple months. And you get this feeling like you're King Kong |
| 131 | 00:24:37,590 --> 00:24:51,000 | and you can't do anything wrong. Then you get into that trade that's going to come and you're going to hold onto it and it's going to build up a lot of |
| 132 | 00:24:51,060 --> 00:25:02,280 | unrealized equity. That means on paper, unrealized potential if you close a trade you would get that but you're not going to because partials are stupid. |
| 133 | 00:25:02,280 --> 00:25:10,500 | That's what you've been telling yourself. And you don't want to subscribe to that. And I have watched my own trades. I've watched my students trades. And |
| 134 | 00:25:10,500 --> 00:25:21,480 | I've watched people that don't trade anything like me get real close to their objectives. And I listened. And I observed and I watched them. Arm wrestle the |
| 135 | 00:25:21,480 --> 00:25:33,780 | public, because people with more insight than them more experienced than them simply said, why don't you just take something off here? It's struggling, and |
| 136 | 00:25:33,780 --> 00:25:41,580 | you're flipping out and you're losing your mind and you're stressing out and you're all over the place, you're animated. can't sit still, and you're live |
| 137 | 00:25:41,580 --> 00:25:54,540 | streaming. That made me anxious. And I don't get anxious in the marketplace. But that made me anxious watching this person squirm over something that is such an |
| 138 | 00:25:54,570 --> 00:26:05,580 | easy remedy. You just take something off. That's trade management, that's risk management. And it's also emotional management. You have to manage the person |
| 139 | 00:26:06,870 --> 00:26:19,410 | that's pushing the buttons and money fear of losing fear of judgment public publicly. Listen, I'm going to call a move, probably a couple of them this year. |
| 140 | 00:26:20,220 --> 00:26:30,240 | And it's not going to work. You think I give a shit what you think if I do it wrong, I don't care. I'm gonna do it more times, right? Then I'll do it wrong. |
| 141 | 00:26:30,270 --> 00:26:39,600 | It's okay. And I want you to understand that you're going to do it wrong. And because you don't know for certain, you don't know for certain it's going to |
| 142 | 00:26:39,600 --> 00:26:51,510 | move where you want it to. I'm proving with my annotations, that most of the time I'm right. But today, I wasn't. I wasn't even though I was wrong. It didn't |
| 143 | 00:26:51,510 --> 00:27:03,870 | go to my 3945 objective. Even though I was wrong, and I saw a fair value gap that I wanted to see, remain unfilled. It filled in. And that was a warning sign |
| 144 | 00:27:03,870 --> 00:27:12,420 | to me. I was like, okay, it needs to rip up to death. And I 45. If it came all the way back down here, it needs the bolt, though, right up there had no |
| 145 | 00:27:12,420 --> 00:27:20,730 | difficulty whatsoever. And I've mapped out two times where everybody that would just simply watch the first couple of videos of my 2020 mentorship, and think |
| 146 | 00:27:20,730 --> 00:27:30,150 | they got it all figured out. They don't have to watch anything else. I'm going to tell you, the folks that took shortcuts, where they're going to see the fair |
| 147 | 00:27:30,150 --> 00:27:38,400 | value gap, the shift in market structure, they're going to try to go short. And I'm telling you in the chart, that's not it. Because you didn't watch the entire |
| 148 | 00:27:38,400 --> 00:27:45,390 | thing, you didn't back test, you didn't read pricing and study, you didn't do any of these things. And you're trying to sell short today, over and over and |
| 149 | 00:27:45,390 --> 00:27:56,880 | over again wrestling, arm wrestling, because you have something to prove. Well, you're proving that you're not as disciplined, as you claimed to be. You're not |
| 150 | 00:27:56,880 --> 00:28:10,110 | profitable. You're not consistent. You're not precise. And your methods shit. Ying, ying yang don't shit for you. So if you're going to wrestle with these |
| 151 | 00:28:10,110 --> 00:28:21,930 | markets, you don't invite yourself to be wrestling emotionally, psychologically, while you're in the trades. So if you feel that tug of war, that's affecting |
| 152 | 00:28:21,930 --> 00:28:38,130 | your focus, if you're physically talking about it, if you if you do those types of things, if you make any kind of physical, audible response to whatever the |
| 153 | 00:28:38,130 --> 00:28:51,990 | market's doing, that's the surest sign that you need to take something off. You have to do that. If you don't do that. You're literally putting yourself through |
| 154 | 00:28:51,990 --> 00:28:59,190 | the wringer for no reason. Because you don't know if your targets gonna get hit just like mine wasn't hit today. I had two parcels that come off and I had the |
| 155 | 00:28:59,460 --> 00:29:19,980 | largest portion of the trade in the book. My stops were rolled if it came back I told you I didn't care. $9,100 but wrong. Say that again? $9,100 and I was |
| 156 | 00:29:19,980 --> 00:29:32,610 | wrong. How many times can you afford to be wrong? If you don't pay yourself? You're You're literally in the statistics that this industry talks about |
| 157 | 00:29:33,060 --> 00:29:44,280 | shitting yourself in the first 90 days. Which is why I did today day 190 days, you'll see every fucking trade everything full history everything but you will |
| 158 | 00:29:44,280 --> 00:29:51,660 | not see that from the people crying about it. They want me to do it. I have no problem doing this, folks. If that's what you need to feel good about this? |
| 159 | 00:29:52,020 --> 00:30:02,340 | Sure. It's no problem. I do it every day anyway. Like, I'm gonna fucking forget how to trade because I gotta show you the history. I love Listen, we're dumb. |
| 160 | 00:30:02,490 --> 00:30:14,280 | We're done with all this dumb shit. Okay, I'm killing everything this year, I'm removing any doubts. All yet this keeps showing up. I'm bringing everything, |
| 161 | 00:30:14,700 --> 00:30:29,460 | everything. You can't be profitable, you can't make a lot of money with five handles, watch me watch my students. You don't need to know where the highs |
| 162 | 00:30:29,460 --> 00:30:36,360 | gonna go. He don't need to know where it's going to close. You don't need to capture the full am session move, you don't need to capture the full pm session |
| 163 | 00:30:36,360 --> 00:30:44,280 | move. You don't have to be right on your direction you can be wrong. Get in alignment, it's okay, I was wrong there. I mean, reverse it and do half the |
| 164 | 00:30:44,280 --> 00:30:56,370 | position size that I just took a loss on and ended up making more money than you probably would have done if you would have moved in your favor. This is what I'm |
| 165 | 00:30:56,370 --> 00:31:05,010 | talking about when many of you are getting into this industry. And you don't really know what you're doing. And you don't know what to expect. And you listen |
| 166 | 00:31:05,010 --> 00:31:15,510 | to these Yahoo's on the internet. They have no idea what they're doing. These people that can't prove that they can trade profitably. They're the one giving |
| 167 | 00:31:15,510 --> 00:31:26,910 | you advice. They're the ones telling you what you're seeing didn't happen. That's lunacy, like that is lunacy, like that is some Tom Cruise, jumping on the |
| 168 | 00:31:26,910 --> 00:31:38,220 | couch shit right there. Okay, like, these are the people you're going to listen to. Just look at this week, folks. I didn't get lucky this week, we're going to |
| 169 | 00:31:38,220 --> 00:31:53,730 | do a whole year this you need to think about who you're giving your time and attention to, you need to guard it. You are going to be met with so many things. |
| 170 | 00:31:55,050 --> 00:32:09,390 | distracting you this year. Social media trolls, your personal life. Watch how it happens. It always works like this. It always does. Because there's it's like |
| 171 | 00:32:09,390 --> 00:32:20,250 | this unseen force that doesn't want to see anybody be successful. And all you gotta do is keep your nose down in the charts. Keep your ears open and listen to |
| 172 | 00:32:20,250 --> 00:32:32,100 | what I'm telling you to do. And don't do the things that tell you not to do. You need to use a stoploss I could have kept this trade from being seen by any of |
| 173 | 00:32:32,100 --> 00:32:44,970 | you today. But if I'm going to teach you, if I'm going to teach you how to do proper trade management, proper risk management, and emotional and psychological |
| 174 | 00:32:44,970 --> 00:32:46,110 | management in a trade. |
| 175 | 00:32:47,610 --> 00:32:58,500 | This was a perfect Hallmark moment for it. Because I wanted to see it run up there. I literally was telling myself vocally, I said it needs to go here. And |
| 176 | 00:32:58,500 --> 00:33:09,360 | as soon as I did that, that was it. That was my that was my cue. So I do exactly what I'm telling you to do. If I'm going to make a physical response audibly. Or |
| 177 | 00:33:09,480 --> 00:33:19,920 | with my body, I'm, I'm disturbed. I'm trying to get more comfortable because this is making me uncomfortable. It's not doing what I wanted to do. It's not |
| 178 | 00:33:19,920 --> 00:33:29,250 | bending to my will. So now I'm becoming what armwrestling. So if I start armwrestling the market, and I have something on the trade where I can peel |
| 179 | 00:33:29,250 --> 00:33:39,450 | something off five contracts to contract. What if you only have two contracts? Would you still take one off? Yes. Yes. What's wrong with that? What is wrong |
| 180 | 00:33:39,450 --> 00:33:47,130 | with that? Because what you're saying is, you fucking know without a doubt that your targets gonna hit when I'm saying everything in that chart when I was |
| 181 | 00:33:47,130 --> 00:33:56,670 | recording it today. Once I got my second partial and it pulled off of that 3940 level. I was like okay, it needs to stay above that fair value gap that was |
| 182 | 00:33:56,670 --> 00:34:10,170 | formed just after 10 o'clock. I said it must remain open. It traded all the way down into that after running up to 3933 and three quarters. So that dropped |
| 183 | 00:34:10,170 --> 00:34:21,810 | down. I need the seat in immediate response to get to their 940 I got it in the first fair Vega that you'll see in the recording. It's like a pink color. Then |
| 184 | 00:34:21,810 --> 00:34:35,640 | it retraced back down again after running 3940. But I was already committed to my stop. Now I could have I could have opened that stuff up and guess what that |
| 185 | 00:34:35,640 --> 00:34:51,030 | does? That makes me a hypocrite. That means I don't practice what I teach. When I practice what I teach market went up to 3980 something whatever it was today, |
| 186 | 00:34:51,030 --> 00:35:06,540 | I don't know exactly. Yeah, had a really nice run. But my focus was Only aiming for 3945. I just want to get second real quick. Thank you folks that were |
| 187 | 00:35:06,540 --> 00:35:19,140 | helping me today on Twitter, because I did the test run on the live sessions, I want to make sure that my layout that I created this morning was okay looking. |
| 188 | 00:35:19,170 --> 00:35:30,270 | It's not bling bling, right? It's it's never been me. But it's functioning. It's fine. I got a disclaimer, I got the welcome page. And I had all my charts set |
| 189 | 00:35:30,270 --> 00:35:40,170 | up. So the audio, I have a microphone that wasn't connected, but I was just using the laptop microphone. So thank you for helping me work that out on |
| 190 | 00:35:40,170 --> 00:35:51,210 | Twitter confirming some things but if you go to look at that recording, you'll see only one liquidity pool highlight. It says buyside liquidity 3945 Oh, you |
| 191 | 00:35:51,210 --> 00:36:04,470 | cherry picked it again. Yes. I'm going to pick and Jerry's Amen. So while that was my only objective for today, because we had to do our grocery shopping in |
| 192 | 00:36:04,470 --> 00:36:12,930 | the afternoon. And that's where I spent most of this afternoon. And yes, I was looking at my phone. And yes, I was thinking I could do this, I could do this. |
| 193 | 00:36:13,290 --> 00:36:28,380 | But I can't do it. Because I can't manage it appropriately. So I had to stay out. And here's where I'm at. So the question is, do you have it in you to admit |
| 194 | 00:36:28,380 --> 00:36:38,910 | when you're wrong? Can you admit when you're wrong? Because you need that skill set in this industry. A lot of the hot heads and I might sound like a hothead, |
| 195 | 00:36:38,940 --> 00:36:46,980 | I'm just passionate. But the hotheads that will tell you don't do this, don't listen to me, don't listen to anybody. But then because they're selling |
| 196 | 00:36:46,980 --> 00:36:58,950 | bullshit, they have a service, they have something to sell you. I'm not doing any of that I'm over here, outperforming them over delivering, I'm busier than |
| 197 | 00:36:58,950 --> 00:37:08,460 | them, proving it showing you profitable students coming on my ass. And they got something to say about why you shouldn't be here. And their response would be |
| 198 | 00:37:08,730 --> 00:37:22,920 | buy their stuff as an alternative. I'm just reminding you, I'm doing this because I want to do this. It's free. It works. People are making money, you can |
| 199 | 00:37:22,920 --> 00:37:34,050 | find consistency in it, you will lose money like anything else. But you need to understand how to manage even winning positions winning trades, they have to be |
| 200 | 00:37:34,050 --> 00:37:45,780 | managed just as much as a trade that might be a losing trade, but you hold on to them too long. Now, think about this for a moment. If you've traded with live |
| 201 | 00:37:45,780 --> 00:37:55,230 | money. This is not the same as when you're trading with a demo or paper trading, you're trying to learn how to do it. If you ever trade with live funds, you're |
| 202 | 00:37:55,230 --> 00:38:03,600 | gonna have this experience. Once you do it, at least a few times, you'll have this happened to you, you'll put a trade on, you'll feel good about it. Or maybe |
| 203 | 00:38:03,600 --> 00:38:08,280 | you won't feel good about you'll just be impulsive and put the trade on because you have time and just want to see something happen feel like the lottery win. |
| 204 | 00:38:10,140 --> 00:38:19,680 | But you'll put the trade on. And it won't move in your favor right away. And it starts drifting down. And you know, in your mind's eye, that if it goes to this |
| 205 | 00:38:19,680 --> 00:38:36,450 | level, you don't want to be in that trade. But your stop loss, if you've adopted one is maybe very close to that level, that's really uncomfortable for you if he |
| 206 | 00:38:36,450 --> 00:38:44,910 | gets to that point. So in reality, that should have been your stop loss where you're uncomfortable. Because you don't know if the market is going to drop down |
| 207 | 00:38:44,910 --> 00:38:58,410 | there and snap into that level and go through it. So wherever that pain threshold is for you in the trade, that's where your stop losses. But you know, |
| 208 | 00:38:58,410 --> 00:39:11,310 | how do you manage that? Fear. Don't over leverage, but use that same stop. Because what you're doing is you're saying I'm fundamentally wrong as a human |
| 209 | 00:39:11,310 --> 00:39:19,290 | being, because if it goes here, it's probably going to keep going. And my idea about it going higher, is incorrect. And that's uncomfortable. That's worse than |
| 210 | 00:39:19,290 --> 00:39:33,540 | estoppel because it's Pride. Pride takes more than a losing trade takes in funds. It lasts longer the pains worse, the drawdown doesn't come back that fast |
| 211 | 00:39:33,570 --> 00:39:46,140 | from a losing series of trades because of the ego. The pride is the issue of being right to be perceived by your peers or onlookers. detractors, supporters, |
| 212 | 00:39:46,200 --> 00:39:57,480 | whatever you want to call it, an audience whoever you invite to watch your trade to make it harder than it fucking has to be. It's stupid. It's madness to see |
| 213 | 00:39:57,480 --> 00:40:06,900 | what you guys want to do with yourself. And then when you are struggling trying to find profitability. You're coming at me to vent. When you're doing it all |
| 214 | 00:40:06,900 --> 00:40:16,140 | wrong. You're out there trying to arm wrestle yourself in front of the public, and you're floundering. I don't need to do anything. You're doing it to |
| 215 | 00:40:16,140 --> 00:40:25,320 | yourself. But if you're here to be a student, you want to learn how to do it correctly. You have to identify where you're wrong. And admit that okay, I'm |
| 216 | 00:40:25,320 --> 00:40:38,850 | wrong here. That's wisdom. That's wisdom. But you look at it as that's a weakness. I should have known better. Who says, who says that you should have |
| 217 | 00:40:38,850 --> 00:40:47,940 | known better? You don't know what that market is going to do? You don't know if it's going to run to your target? I don't know. That's why I have to use a stop |
| 218 | 00:40:47,940 --> 00:40:58,290 | loss. If I knew for certain I wouldn't even bother moving my stop loss. I wouldn't use a stop loss. And I wouldn't take my partials would I? Oh, shit. I |
| 219 | 00:40:58,290 --> 00:41:07,830 | never really thought about that. Hello. In high resistance, liquidity run signatures, I am very, very disciplined about taking partials. If I'm in a low |
| 220 | 00:41:07,830 --> 00:41:15,840 | resistance, liquidity run signature, I can run them for a full pool, I have a lot of things that I feel confident. And I'll let the full stop out happen in |
| 221 | 00:41:15,840 --> 00:41:24,510 | that case, and not have to worry about getting any partial I know on one side, that that doesn't mean I knew with 100% of surety, the uncorrect. It just means |
| 222 | 00:41:24,510 --> 00:41:36,600 | that I as the Trade Manager, managing the person, the risks, the emotions, the money, all those factors being equal. I'm comfortable with not taking parcels in |
| 223 | 00:41:36,630 --> 00:41:47,700 | a move. That's low resistance liquidity. It means it's going to move like a hot knife through butter. Nothing's gonna really slow it down. Look at the |
| 224 | 00:41:47,700 --> 00:42:00,570 | annotations today. In today's video, I'm annotating saying, Okay, you think you see the 2022 model, and it's a sell here. It's not. Retail sees resistance here. |
| 225 | 00:42:00,780 --> 00:42:11,550 | It's not but it's slowing price down. And I said it's a speed bump here on that first fair value gap. What are those adjectives communicating resistance, high |
| 226 | 00:42:11,550 --> 00:42:25,650 | resistance, but not formidable enough to stop the price from going where they're 945 and 3985, or wherever High was. But it's a lot more aggravating. When you're |
| 227 | 00:42:25,650 --> 00:42:35,760 | used to seeing moose this run right away for you, too. I'm used to trading in market environments that like when I dog whistle for my boxers, and I call them, |
| 228 | 00:42:35,850 --> 00:42:44,340 | they immediately come to my side. When I dog whistle, a trade it's a low resistance liquidity run signature, I'm comfortable knowing that the mark is |
| 229 | 00:42:44,340 --> 00:42:45,360 | going to go where I want it to go. |
| 230 | 00:42:47,130 --> 00:42:58,560 | I still have a stoploss I'm not all that pressed to take parcels for that much of them off. Because I'm generally on the right side. But high resistance |
| 231 | 00:42:58,560 --> 00:43:11,940 | liquidy run signatures, you have to be mindful that they can many times come back and swipe stock losses much more frequently. Then a low resistance and |
| 232 | 00:43:11,940 --> 00:43:20,820 | poorly run signature. Those price runs, they don't have a whole lot of returns back for stocks, they just quickly trying to run to an objective above or below |
| 233 | 00:43:20,820 --> 00:43:28,650 | the marketplace, which is the reason why I teach my students to look for those. They're very rewarding. They are quick to give you that instant gratification. |
| 234 | 00:43:28,680 --> 00:43:39,720 | And it's exhilarating. You feel like Wow, man, nothing delivered like nobody's business. Fast that thing happened. I thought awesome. And you want to go right |
| 235 | 00:43:39,720 --> 00:43:47,790 | back in and do it again, when you're new, you think it's gonna be something just like that. Next, it's not like that. There's small little surgical precision |
| 236 | 00:43:47,790 --> 00:43:59,190 | elements that leads to that. But high resistance liquidity runs, they will still go. But they go in these stair stepping type thing. It'll go up a little bit, |
| 237 | 00:43:59,190 --> 00:44:10,620 | consolidate, drop down, re accumulate, go up a little bit, slowly, go to a new high consolidate, drop down, run stops, consolidate, rally up again, |
| 238 | 00:44:10,860 --> 00:44:20,850 | consolidate, dropped down to an inefficiency, rally again little bit and then go down once more to take out stops after then inefficiency formed. That's what |
| 239 | 00:44:20,850 --> 00:44:30,360 | makes a high resistance liquidity run very frustrating. And many of you that are trying to learn my content, you're going to think that you're trading like I am. |
| 240 | 00:44:31,200 --> 00:44:38,610 | And you might think that you're among those trades that move real quick and it's like hot knife through butter. But in reality, you're trading a high resistance, |
| 241 | 00:44:38,610 --> 00:44:47,310 | liquidity run, expecting low resistance in that move. And you're getting frustrated. Why? Because you don't know you're doing to your overleveraged |
| 242 | 00:44:47,430 --> 00:44:54,900 | three, you don't have experienced sitting in a trade and you're not going to take anything off because you listen to people on social media say don't take |
| 243 | 00:44:54,900 --> 00:45:06,120 | partials they're stupid. What I'm showing you every day Every week, months in years over and over and over again, me executing with the very things that I |
| 244 | 00:45:06,120 --> 00:45:17,250 | teach. Come on out. Come on, what matters more? If you're going to court, okay? If you're sitting in front of a judge in a jury, who's going to have the more |
| 245 | 00:45:17,250 --> 00:45:25,950 | damning evidence, somebody that's bringing the receipts showing that this is what it works like, this is execution. This is the person driving, and I'm doing |
| 246 | 00:45:25,950 --> 00:45:35,190 | it. I'm doing every fucking day. Every week, I'm showing you exactly what I taught news videos, and it's happening like precision. But it's also delivering |
| 247 | 00:45:35,190 --> 00:45:42,930 | the same way. When I say it's a high resistance liquidity run. It's performing exactly how I said, this is what you don't want to be pushing hard in these |
| 248 | 00:45:42,930 --> 00:45:52,380 | types of moves. Can you make money? Yes. Can you find five handles and decisive moves? Yes. But you have to relax. You have to relax. And you can't push, push, |
| 249 | 00:45:52,380 --> 00:46:03,360 | push, push push. You short telling me to do the bias. You can't be selling short on a day like this over and over and over again, adding more and trying to do a |
| 250 | 00:46:03,360 --> 00:46:24,150 | bigger position because you're armwrestling for clout and failing. failing. Allen, Texas, like I said you would. Why don't you just listen to me. I'm giving |
| 251 | 00:46:24,150 --> 00:46:45,900 | you the very things to help you and you are fighting me. You're fighting me. It doesn't make any sense. It makes no sense. When you are in a trade, and you feel |
| 252 | 00:46:47,160 --> 00:46:56,250 | high strung when you feel like you want to turn your livestream off, because you know your trades about the shit bed and you're going to lose more. Number one, |
| 253 | 00:46:56,250 --> 00:47:10,830 | you need to stop, take some time off to your over leveraging. And three, you need to reassess what you're doing. Because you are fighting real institutional |
| 254 | 00:47:10,830 --> 00:47:25,380 | order flow. And you don't know it. market profile is not going to teach you that point of control. It's fucking useless. Debt, the market, all that bullshit. |
| 255 | 00:47:26,040 --> 00:47:38,910 | heatmaps dumb bullshit, it's useless. It's all gimmick, you don't need any of that stuff. You don't need any of it. I've been trading this entire year. Just |
| 256 | 00:47:38,910 --> 00:47:52,920 | doing discretionary trades, with just the basic of the things that I teach on my YouTube channel. None of that. None of that was enigma. You don't need that. And |
| 257 | 00:47:52,920 --> 00:48:01,860 | I think that what I'm showing they're worthwhile results. And it's not even Perfect. Now, you might argue Wait a minute, you just said on Tuesday it was |
| 258 | 00:48:01,860 --> 00:48:14,250 | gonna go. Boring that. But apart from that. It's just discretionary trading, sticking to just general basic rules, liquidity, inefficiencies time of day, |
| 259 | 00:48:15,120 --> 00:48:25,500 | market structure, simple stuff. That may not seem simple to you right now. But if you're in trades, and you feel that tendency to want to wig out, and you're |
| 260 | 00:48:25,560 --> 00:48:33,180 | uncomfortable, you're squirming. You got to get up, you're walking away from the charts. You're pacing around, let me tell you what I used to do. When I'd be in |
| 261 | 00:48:33,180 --> 00:48:46,890 | trades, usually it was the bomber, because when it would move, it would move nice and quick. And every tick was over $30 $31.25 So just the tick is almost |
| 262 | 00:48:46,890 --> 00:49:00,360 | what a full mini Emmitt Emini s&p Is today with one contract. And this bond market would move around a lot. If you got 16 ticks. You know, you're making |
| 263 | 00:49:00,360 --> 00:49:15,810 | what 10 contracts on a minimum of one contract would deliver or lose that per contract. So, I the trade, I put the trade on. It's not moving for me. You know, |
| 264 | 00:49:15,810 --> 00:49:24,690 | I got to live in ticks. I could, I could bank something here. But I'm like, No, I need it to go 16 ticks. That's what I wanted my trading to pay. I took this |
| 265 | 00:49:24,690 --> 00:49:32,130 | trade, and I am not going to be able to move the stop loss because I was too new. I didn't know what I was doing. So I kept the stoploss exactly where it was |
| 266 | 00:49:32,130 --> 00:49:41,010 | because I was thinking, I don't want to be wrong. I don't want to get stopped out and not get my 500 hours. What's wrong there? Number one, I'm assuming I'm |
| 267 | 00:49:41,010 --> 00:49:55,740 | right. And that's always a bad thing, too. I'm not appreciating the fact that the stop loss is there to protect me not a Institute of pain and suffering. It's |
| 268 | 00:49:55,740 --> 00:50:05,280 | to protect you from excessive pain and suffering. That's what it's paid to do. When you put that stoploss in there, and you pay the transaction costs and |
| 269 | 00:50:05,280 --> 00:50:21,000 | commissions and fees for that executed order, you paid it to do its job, which is to what, keep the amount of money and suffering. At a minimum, whatever that |
| 270 | 00:50:21,180 --> 00:50:30,030 | order would execute at. That's what you pay it to do. Once you place the order, you don't worry about that it's doing its job, if you are going to worry about |
| 271 | 00:50:30,030 --> 00:50:36,810 | it, then don't use a stop loss and try to time it if it goes down there. Because that's the equivalent what you're doing. So why waste any fucking time doing |
| 272 | 00:50:36,810 --> 00:50:45,060 | that, to put the trade in there and then focus on what matters most is the trade continuously giving you signs and signatures in price action, that it's going |
| 273 | 00:50:45,060 --> 00:50:55,050 | where you want it to go. It's not giving you that the broken wing tactic, you know, it's running out of steam, it doesn't have energy anymore. You know, |
| 274 | 00:50:55,050 --> 00:51:05,400 | you've been in trades where you just know that this damn thing is not going where you want it to go. But what happens, what happens, you don't take anything |
| 275 | 00:51:05,400 --> 00:51:14,160 | off. You don't close the trade and say, Okay, I'm not going to waste any more emotional and psychological equity on this trade. If you're holding on to |
| 276 | 00:51:14,160 --> 00:51:26,100 | something, and it's this, driving you nuts, your infancy in this, or your obsessiveness, which I know a lot about will prevent you from closing the trade |
| 277 | 00:51:26,100 --> 00:51:35,250 | and walking away. And knowing here's, here's the common sense that everybody ignores, the market is going to trade next week, it's going to have a morning |
| 278 | 00:51:35,250 --> 00:51:43,080 | session, it's going to have a pm session, it's going to have liquidity runs, it's going to have a run to inefficiencies. It's going to be all kinds of |
| 279 | 00:51:43,080 --> 00:51:54,240 | repeating things that you somehow get amnesia about. And you let the trade going to draw down, you move your stop or take it off. Instead of taking something off |
| 280 | 00:51:54,240 --> 00:52:05,730 | when you had profit, and easing that pain, and growing through that pain, like a child and growing pains. When I was a child, I had growing pains with my feet, |
| 281 | 00:52:05,730 --> 00:52:16,050 | my ankles and my shins. And I'm not that tall, I'm only 510. But you would have thought that the amount of pain I was feeling I was gonna reach 610 I thought I |
| 282 | 00:52:16,050 --> 00:52:28,830 | was being stretched out like some medieval device. But that growing pain of going through this, you compensate for that pain by taking some of the trade off |
| 283 | 00:52:28,860 --> 00:52:39,750 | and fund yourself. Take it off, reduce the measure of risk that you're going to hold on to. And be diligent about making sure that if you start feeling that |
| 284 | 00:52:39,780 --> 00:52:41,070 | don't let it go to your full stop. |
| 285 | 00:52:43,080 --> 00:52:53,940 | Don't let it go to your full stop. Simple. If you open the trade up, and you're going to take a mistake of two full percent. As soon as you start squirming, |
| 286 | 00:52:54,300 --> 00:53:04,230 | take take the trade off that way. Whatever you have, it can't take more than 1% away from you. And if you've taken something off in partials, It can't even be a |
| 287 | 00:53:04,230 --> 00:53:14,190 | full 1% then. So what happens when you're wrong is a mosquito bite. It's not pleasant, it's going to eat you every weekend, you're gonna think about Oh, it |
| 288 | 00:53:14,190 --> 00:53:19,590 | didn't work out for me. I'm going to keep going back to it scratching and scratching and keep doing it's going to get infected. It's going to hold you up |
| 289 | 00:53:19,830 --> 00:53:28,830 | from doing something new and exciting and more profitable. But you have to let go of these things and identify these times where you're getting uncomfortable. |
| 290 | 00:53:29,640 --> 00:53:42,690 | You're vocalizing your frustrations, your breathing. It shows that you're physically uncomfortable. You're agitated, you're fidgeting. I fidget with a |
| 291 | 00:53:42,690 --> 00:53:53,970 | deck of cards. Every time I'm trading, you can't hear it. But I have a deck of cards. I'm either doing shuffling. I'm doing honey, one hand cuts, I'm ruffling |
| 292 | 00:53:53,970 --> 00:54:08,190 | through him. I'm doing that while I'm waiting for the setup to come. Because in my mind, I'm that sports car in neutral, the gas pedal to the floor. I'm ready |
| 293 | 00:54:08,190 --> 00:54:15,210 | to go. Just give me a look at me. Look how many times I can get into something. But boom, shotgun blast, I'm buying everything or selling everything that could |
| 294 | 00:54:15,210 --> 00:54:26,550 | have been used for entry. I could do a whole lot more entries. But I don't want to be too much for all of you. I might show something like that later on |
| 295 | 00:54:26,580 --> 00:54:44,910 | September, October. But you don't. You don't grow. If you hold on to the trade and take nothing off and remove the stock or move the stock larger. When you |
| 296 | 00:54:44,910 --> 00:54:52,710 | start trading with real money, you're going to discover something about yourself. This is the thing that hurts most people, it's usually the man. You're |
| 297 | 00:54:52,710 --> 00:55:00,930 | going to put the trade on. It's going to offer a little bit of profit. And then you're going to feel that struggling. It ain't moving. It's not Moving for you. |
| 298 | 00:55:01,620 --> 00:55:09,480 | And you start worrying about what is going to go from my stuff. You're worrying about it going into your stock, instead of saying, Is it showing signs it wants |
| 299 | 00:55:09,480 --> 00:55:16,980 | it continuously moving in my favor. But no, you're not doing that you're focusing on, it's moving to my stock, you're telling yourself, it's going to |
| 300 | 00:55:16,980 --> 00:55:26,280 | your stock, you're thinking it's going to stop. But you're not doing shit about taking any of the risk off. You've abandoned the idea of studying whether or not |
| 301 | 00:55:26,280 --> 00:55:35,310 | it's giving you clues that it's going to keep moving in your direction, you totally forgot about that. Now your arm wrestling the market like you're somehow |
| 302 | 00:55:35,310 --> 00:55:43,260 | going to be able to control it with telekinesis, you staring at the chart, you cutting out the chart, you throwing shit at your, you're throwing it all around |
| 303 | 00:55:43,260 --> 00:55:51,780 | the room. You think that that's gonna have something to do with how the market like the market is gonna think, oh, shit, he just threw his glasses. Oh, shit, |
| 304 | 00:55:52,020 --> 00:55:59,760 | he just threw his Ray Ban glasses against the wall. Man, I better not go for this guy. Stop. You think that's what's going on? You think that's what's going |
| 305 | 00:55:59,760 --> 00:56:07,980 | on? You think that anything, you act out and go crazy. But that's going to have an influence on what the markets gonna do. Now, clearly, right now, we're |
| 306 | 00:56:07,980 --> 00:56:13,440 | talking outside the marketplace and you're laughing you're probably thinking yourself, it's true. It's true. I've been there, maybe not throwing you Ray |
| 307 | 00:56:13,440 --> 00:56:20,700 | Bans, but you've done something to that effect. Resisting the obvious, what you should have done is take something off or collapse the trade and just be out of |
| 308 | 00:56:20,700 --> 00:56:36,090 | the pain. You don't want to stay in those positions of uncertainty, pain, discomfort, because what you're doing is fortifying the exact reasons why you're |
| 309 | 00:56:36,090 --> 00:56:45,480 | gonna be scared shitless taking the next trades when they're good. I mean, the last time I got a girlfriend, she cheated on me. So I'm not getting girlfriend. |
| 310 | 00:56:46,350 --> 00:56:57,840 | What the hell kind of logic is that? That's what you're doing with the market. You had one bad relationship that you held on to a toxic relationship. The trade |
| 311 | 00:56:57,840 --> 00:57:10,170 | doesn't love you. It's okay. There's other ones out there that will. So you have to do what, kill it. Not murder, but you have to kill the transaction. Just be |
| 312 | 00:57:10,170 --> 00:57:20,550 | done with it. And save your mental equity, your emotional equity, that psychological tug of war, you have to know when that's there. And as soon as you |
| 313 | 00:57:20,550 --> 00:57:29,250 | feel and I felt it today in the market, it was not giving me what I wanted to see. And I was communicating in my text in the annotation. So it needs to go |
| 314 | 00:57:29,250 --> 00:57:40,050 | here, it needs to go right now. And just start fluttering. Okay, I got five contracts on the B take one off off, do I feel any less anxiety about whether or |
| 315 | 00:57:40,050 --> 00:57:48,180 | not this is going to pan out, not that I was freaking out, but communicate the way you're going to feel it when you have real money, whether it be your funded |
| 316 | 00:57:48,180 --> 00:57:57,660 | account, trading a demo account, because that's what they all are. Or with your own money, you're going to feel this eventually. And the way you manage it, the |
| 317 | 00:57:57,660 --> 00:58:07,980 | way you press through it, is you take something off, you reduce the risk, and if there's profits, you bank some of it. And you do it again, if it doesn't feel |
| 318 | 00:58:07,980 --> 00:58:15,990 | like you've overcome it. And that's what I did. I did once, twice, three times. I said okay, I'm just gonna get done. We'll take one contract and see if we can |
| 319 | 00:58:15,990 --> 00:58:28,470 | run to my target. I don't care at this point. And then being stalked out $9,187. Wrong. I did the right thing, no regrets. That's why I typed it out. I was |
| 320 | 00:58:28,470 --> 00:58:39,180 | communicating exactly how I teach you well, I did not get what I wanted in the final piece. But I anchored with a bullet point to my subconscious remembers I |
| 321 | 00:58:39,180 --> 00:58:51,960 | did everything right. No regrets, I got stopped out with no regrets. I do this. I live this. And I teach it so that way you do the same things. You can never |
| 322 | 00:58:51,960 --> 00:58:59,400 | get to this level of precision and trade management unless you do the thing that I'm teaching you to do. And that's just the bottom line. It's just the way it is |
| 323 | 00:58:59,400 --> 00:59:07,560 | and I'm not gonna show who sells you otherwise, I want to see someone else do what I'm doing. do that consistently explain it in the logic behind why you're |
| 324 | 00:59:07,560 --> 00:59:17,880 | going to fail? Why you're going to struggle how to beat it, how to go through it, not well yeah. Don't use a stop loss because you might get stopped out. Now |
| 325 | 00:59:17,880 --> 00:59:28,830 | use a stop loss because you're gonna get stopped out and you want to keep the risk limited. And you're gonna find out one of these days when you finally do |
| 326 | 00:59:28,830 --> 00:59:41,520 | touch it on account has real risk monetarily. You're gonna have all kinds of staying power. You're gonna have Viagra effect, holding on to a fucking losing |
| 327 | 00:59:41,520 --> 00:59:55,980 | trade. You will go all night all week off friggin month, holding that losing trade. But you're one winning trade. You got two and a half handles. You're |
| 328 | 00:59:55,980 --> 01:00:18,390 | freaking out. You can't hold it. You got to go That's it. Party's over. Data don't think about that. You are willing, you're willing to go to hell and back. |
| 329 | 01:00:18,840 --> 01:00:28,410 | For that losing trade, that son of a bitch ain't paid you one dime, it ain't gave you anything, not even so much as a reach around, and you're not gonna let |
| 330 | 01:00:28,410 --> 01:00:36,540 | go that one. That's the one baby, you're gonna win. This is a fight to the death, it's mortal fucking combat on this one trade, it's a losing trade, you |
| 331 | 01:00:36,540 --> 01:00:42,210 | know, damn, well, it's not gonna come back, you don't have a stoploss on it, you're gonna hold on and hold on one. And here's the worst case scenario, some |
| 332 | 01:00:42,210 --> 01:00:49,650 | of you are adding to it. Because you think all I gotta do is add more. And in just a little bit of move in my favor. I don't need to go all the way back to my |
| 333 | 01:00:49,650 --> 01:01:01,500 | original entry because I keep buying more. And Martin kill your ass out the door. Sound familiar, Allen, Texas, because that's what you're doing. There's |
| 334 | 01:01:01,500 --> 01:01:11,520 | nothing illegal about it. There's nothing mysterious about what you're doing. You don't have a trade. And that's the bottom line. And I don't want my students |
| 335 | 01:01:11,520 --> 01:01:20,040 | that are listening to do those same things because it's human nature to do it. You don't want to admit you're wrong, you don't want to throw in a towel. Okay, |
| 336 | 01:01:20,040 --> 01:01:30,570 | I was wrong. This is transactions done. I am completely out of my focus today. I can't do this. And just close the charts and walk away. It won't feel like |
| 337 | 01:01:30,570 --> 01:01:41,190 | that's the right thing to do. You got to win. You got to win. It's the way it is. The market took first blood. So now you gotta get even in take it back with |
| 338 | 01:01:41,190 --> 01:01:51,780 | vengeance. It's a big movie now. Okay, and you're trying to place yourself as the leading role. That's my that's make believe that's fantasy ship. These |
| 339 | 01:01:51,780 --> 01:02:06,090 | markets will open your head and literally lay you out broke both physically and psychologically. And mentally, you're completely warped. And it's completely |
| 340 | 01:02:06,180 --> 01:02:24,780 | avoidable. You have to know when that market is signifying that, hey, I shouldn't be running for you right now. And you know, it should be but but it's |
| 341 | 01:02:24,780 --> 01:02:27,240 | not. And you have profit. |
| 342 | 01:02:28,800 --> 01:02:36,120 | And what happens if I get out ICT? You don't understand? I have been taking loss after loss after loss. And then all of a sudden now I've got this one trade |
| 343 | 01:02:36,120 --> 01:02:43,380 | where I'm in there just marginally profitable. And yeah, it's okay. It's not moving. For me right now. It's been three fucking days. It hasn't done anything |
| 344 | 01:02:43,380 --> 01:02:51,750 | for me. But I got a small little game right now. And I know I know, deep down inside that this trade is not going to pan out for me. I know it's not. But what |
| 345 | 01:02:51,750 --> 01:03:06,540 | it does. After I get out. I have lived that moment so many times as a 20 year old. Listen. These are the things I've mentioned many times in the boring |
| 346 | 01:03:06,540 --> 01:03:18,180 | discussions that you need to listen to. You're going to encounter that it's uncomfortable. It sucks. You have to admit you're wrong. And even if you close |
| 347 | 01:03:18,180 --> 01:03:32,340 | the trade and it runs in your favor. You would have made you will Well, listen, it does cost me $850 at the grocery store this afternoon. All the woulda, and |
| 348 | 01:03:32,340 --> 01:03:42,000 | shoulda, coulda ain't gonna pay the $150 grocery bill that is paid at the grocery store. It doesn't. You can't do shit with that woulda, coulda shoulda is |
| 349 | 01:03:42,000 --> 01:03:54,090 | nothing. That's all it's worse than paper trading. It's something that you didn't even do anything about. You weren't in there. You can't realize anything |
| 350 | 01:03:54,090 --> 01:04:06,450 | from that, but regret. And you're doing that. Instead of saying, I was right, to manage my emotions, disconnect myself psychologically from the marketplace and |
| 351 | 01:04:06,450 --> 01:04:21,240 | the result of one transaction. I removed that emphasis and power over me as the human being that wrestling match that gladiator war. You're in because you're in |
| 352 | 01:04:21,240 --> 01:04:33,060 | the Coliseum, you're doing battle. You think you're doing it with the market. You're doing it with yourself you're flogging yourself. You're literally beating |
| 353 | 01:04:33,060 --> 01:04:49,260 | yourself. needlessly. Professionals, consistently profitable students, traders, money managers, they know pain threshold. They know themselves. That's how they |
| 354 | 01:04:49,260 --> 01:05:00,000 | get there. They don't try to hide it. They don't wear blinders. They don't blame somebody else or something else. They own it. And when they feel these triggers |
| 355 | 01:05:00,000 --> 01:05:13,290 | Are these uncomfortable things that trading will bring and present to you, and how you react, how you justify your actions, or the lack thereof is going to be |
| 356 | 01:05:13,290 --> 01:05:26,070 | an uncomfortable endeavor for all of you. You don't know who you are yet, you think you do. All you young guys, you're all cowboys. And ladies, you think |
| 357 | 01:05:26,070 --> 01:05:34,620 | you're gonna be able to manage it? Well, you're not going to take a high risk approach, you're going to be very frugal, and that what you think is going to be |
| 358 | 01:05:34,620 --> 01:05:47,130 | the thing that gets you through it. And then all of a sudden, you discover, wow, there's a whole lot more to it than that. Yeah. This is hard, because you are a |
| 359 | 01:05:47,130 --> 01:05:56,100 | formidable person, all of you are. And you're gonna hold yourself up doing the wrong things, which is why I've talked about it in those boring parts of the |
| 360 | 01:05:56,100 --> 01:06:04,170 | videos, those barriers, which you haven't even uncapping in Canada yet, you don't even know what that is yet, you don't even know I'm talking about. That's |
| 361 | 01:06:04,170 --> 01:06:11,250 | why when it goes in one ear out, the other eye understands like my kids, you're gonna do this, you're gonna do that I tell my son. When I gave him the car, I |
| 362 | 01:06:11,250 --> 01:06:22,410 | said, Listen, don't cross the other line. If you cross that yellow line 90% of the accidents that you would ever have won't happen. And the accident he had he |
| 363 | 01:06:22,410 --> 01:06:34,920 | crossed the yellow line. I told him, I specifically told him, I said, if you crash this car, I will not buy you a replacement, you will earn it and work for |
| 364 | 01:06:34,920 --> 01:06:42,420 | it. And guess what? That makes me a piece of shit that in most people's eyes, well, you have all this money. Yep. But I'm a dad. And he didn't listen. He |
| 365 | 01:06:42,420 --> 01:06:53,190 | disregarded it. He could have hurt a family, he could have hurt himself. But guess what? He's at fault. He has to own that. I'm a piece of shit Father, if |
| 366 | 01:06:54,780 --> 01:07:05,190 | well, here, here's a replacement car. He learned nothing from that. So when I talk to you, and these videos are nice spaces, and I'm giving you real world |
| 367 | 01:07:05,190 --> 01:07:16,680 | experience, that every trader worth their salt knows exactly what I'm saying is the gospel. It is the absolute defining moment for you finding consistency, |
| 368 | 01:07:16,680 --> 01:07:27,540 | because if you can't wrangle yourself in and overcome yourself, it matters not who you trade with, who taught you, what you use for your trading methodology, |
| 369 | 01:07:27,660 --> 01:07:37,230 | how much you have, how many funded accounts you have, what company what your payout scale is, fucking means nothing. Because you're going to unravel |
| 370 | 01:07:37,230 --> 01:07:50,370 | yourself. You will unravel yourself, plain and simple, because you want perfect rose petal pathways where you don't have to worry about ever stomping your toe. |
| 371 | 01:07:51,210 --> 01:08:05,160 | No paper cuts for you. No drawdown. And the market owes you something. It's looking out for you. When in fact, none of that's true. And then when you |
| 372 | 01:08:05,250 --> 01:08:16,890 | finally come to grips with the first stages of seeing that is the case where the market is not easy. The market is trying to chew you up, spit you out. It's not |
| 373 | 01:08:16,980 --> 01:08:25,380 | an invitation for you to go in and get rich. When you discover that and you're going to trade and you know damn well that you need to have it. You're gonna do |
| 374 | 01:08:25,380 --> 01:08:39,000 | what human beings do. The opposite of what should be done. Don't walk on the grass. ICTs moonwalking across it is human nature tell me I can't do something. |
| 375 | 01:08:39,720 --> 01:08:52,110 | I'm gonna do it. There's no shame in it. I'm being honest. I'm a human being. We're designed to be what we are. And we have to work our whole lives becoming |
| 376 | 01:08:52,110 --> 01:09:04,950 | better. And I have not attained perfection yet. And none of you listening have arrived there either. But in trading, I know where my thresholds are where I |
| 377 | 01:09:04,950 --> 01:09:18,090 | know that the egotistical, pompous 20 year old boy that thought he owned world. I know that feeling that little itch inside it says okay, it shouldn't be doing |
| 378 | 01:09:18,090 --> 01:09:28,650 | this. It should not be doing that. So there's your warning sign. So what are you going to do? You got one more opportunity and I put a time filter and I say |
| 379 | 01:09:28,650 --> 01:09:40,140 | okay, this candle or the next one, it's got to start delivering. If it doesn't give it to me, or if it breaks a PDA array. I can always think about like this. |
| 380 | 01:09:40,620 --> 01:09:52,830 | If I have a fair value gap that I have my stop beneath and I'm long. I am trusting that a fair value gap is the catch all. It's the the thing that's |
| 381 | 01:09:52,830 --> 01:10:03,420 | buffering me from being stopped out and I'm trusting it. Preferably I have one or two more or PV arrays, whether it be a volume imbalance or bullish order |
| 382 | 01:10:03,420 --> 01:10:14,700 | block above that fair value gap. If I lose two of those PV arrays, and it goes into that fear value gap, that's a warning sign for me because it just came in |
| 383 | 01:10:14,970 --> 01:10:26,910 | three levels of what I would deem a support. Not classical Support Resistance bullshit. Things that from a orderflow idea, it would not go down there if it |
| 384 | 01:10:26,910 --> 01:10:37,170 | was bullish where my stop is. If you watch that video, well, I can't learn from these videos, it doesn't make any sense. Just you know, I'd rather have the four |
| 385 | 01:10:37,170 --> 01:10:46,410 | hour long videos where he just drones on or not. Okay, but those short little videos are me putting the rubber meets the road. That's it. That's me doing all |
| 386 | 01:10:46,410 --> 01:11:00,000 | the things I've talked about. If I never showed you executions, then I'm just a talker. But if I'm doing this shit, and I'm telling you to do, I'm walking the |
| 387 | 01:11:00,000 --> 01:11:08,730 | walk, I'm showing you precision, I'm showing you trade management, I'm showing you stop placement, managing the stop. And I'm also teaching you if there's |
| 388 | 01:11:08,730 --> 01:11:18,210 | something that I experienced as the trader, as you will, too. What does that feel like? How will you know, you'll know? You'll know because it will feel like |
| 389 | 01:11:20,250 --> 01:11:31,500 | you're about to find out your spouse cheated on you. You know, that, when you open that door up, you're going to see something that you will never forget. And |
| 390 | 01:11:31,500 --> 01:11:44,190 | it's going to scar you. You know, holding on to that trade is going to be very similar experience. That you won't let go that because you're wrestling with who |
| 391 | 01:11:44,970 --> 01:11:51,780 | your broker gonna say, No, you can't get out the trade talk you use this way it is. Don't call here, don't don't push the button, we're not gonna let you get |
| 392 | 01:11:51,780 --> 01:11:59,580 | out of it. This is the way it is. You made your bed, I mean it. That's not That's not what's happening. But you would be convincing yourself at the time |
| 393 | 01:11:59,700 --> 01:12:10,470 | that there's no way out of this. There's no way out of this trade, I have to hold on to it. My whole livelihood, my whole identity rests on this trades |
| 394 | 01:12:10,500 --> 01:12:22,410 | outcome. You've elevated this entire existence as a trader in that one transaction. You're squirming around, you're bitching your cousin, you're |
| 395 | 01:12:22,410 --> 01:12:31,020 | throwing shit around, you're, you don't want to talk to your spouse. You hate everything you had dinner plans later on, you ain't going now. |
| 396 | 01:12:35,760 --> 01:12:48,360 | This is what happens when you get in this market. It shows you your ugly side. And as nice as some of you people are, I'm sure you were very, very pleasant. It |
| 397 | 01:12:48,360 --> 01:13:05,850 | will show you the monster that's in you. That ugly person, the one that you like to pretend doesn't exist. Everyone was habit. Every single person has it. And |
| 398 | 01:13:06,060 --> 01:13:17,070 | you have to master that person. You're never ever mastering the market. I'm never going to master the market. I'm never going to be a master of the market. |
| 399 | 01:13:18,540 --> 01:13:30,630 | You know, I am a master of me. I might go off the rails chemically and bounce for a few minutes or so customers rave and then it subsides and I go the other |
| 400 | 01:13:30,630 --> 01:13:52,560 | direction again. But I master me, I can't trade in a state of mania. I have to physically walk away. I can't keep a look at the charts. Because in my mind. I'm |
| 401 | 01:13:53,250 --> 01:14:02,790 | I'm in that Russell Crowe gladiator shit, like I'm in there, I'm going to kill everybody. I'm going to lay waste to everybody. And I'm going to have a |
| 402 | 01:14:02,790 --> 01:14:15,810 | bloodlust in there. And I might do something and not feel the pain that I would feel if I was more focused. Like I felt today. I seen what I was doing. And my |
| 403 | 01:14:15,810 --> 01:14:25,020 | expectation in the marketplace was not panning out. It was stalling, stalling and stalling and I watched it take out several PD arrays that in my opinion, |
| 404 | 01:14:25,440 --> 01:14:35,430 | were warning signs. So that's why I said okay, if it starts stalling again, and it's not delivering what I want it to deliver. The time filter starts it's like |
| 405 | 01:14:35,430 --> 01:14:44,880 | a little clock. You know, it's this candle or the next. So it's two minutes, you two minutes. It doesn't start moving for me in my favorite peel and something |
| 406 | 01:14:44,880 --> 01:14:54,090 | off. And then when I take the trade lower in terms of my risk if I had five contracts on or whatever it is, but at that time today, at five remaining one, I |
| 407 | 01:14:54,090 --> 01:15:02,370 | took one of them off. I didn't feel at ease about it. So I took another one off, felt no change in it. took one more off. I said, That's it. If I'm gonna take |
| 408 | 01:15:02,430 --> 01:15:09,990 | three off, I'm just gonna take it all way down to one, lead one, one and then see what happens. And then went down and stopped me out. Who cares? At that |
| 409 | 01:15:09,990 --> 01:15:22,920 | point, I've done the right thing. I did the right thing. I listened to my analyst, that smarter part of me, that tells me what I should and shouldn't do. |
| 410 | 01:15:23,580 --> 01:15:37,530 | I allowed the trader that is in a turtle trader, to listen to the animals, which is Michael. Michael is the person that has the shit figured out. ICT is the one |
| 411 | 01:15:37,530 --> 01:15:48,750 | out there that wants to be Russell Crowe and slay everybody. Ratchet ICT, which is who you hear on here. I gotta keep him at bay. Because when I get manic, |
| 412 | 01:15:49,950 --> 01:15:58,440 | that's the guy that will put me in drawdown, and I gotta work to fix that shit. So you're always going to be wrestling that internally, because you're made up |
| 413 | 01:15:58,440 --> 01:16:11,670 | of three people, the analyst, the trader, and the gambler. So when I am paying attention to all these symptoms, that a market condition or trade is presenting |
| 414 | 01:16:11,670 --> 01:16:22,140 | to me, if I'm distracting myself with you. Stupid, toxic thinking, what if it does this? And what if I'm wrong? Fuck that. Is it doing what I'm expecting it |
| 415 | 01:16:22,140 --> 01:16:30,780 | to do? If it's not, then what's it doing? Telling me I gotta lighten the load on my position. But you're supposed to only take partials when it's moving in your |
| 416 | 01:16:30,780 --> 01:16:40,380 | favor. That's what you're aiming to do. Are you going to argue and say that taking something off to manage the emotion, the psychological position that your |
| 417 | 01:16:40,380 --> 01:16:51,900 | wrist you're wrestling with, I can't make the market go up. No matter how mad or uncomfortable or impatient I become. You can't either. But when you when you get |
| 418 | 01:16:51,900 --> 01:17:01,020 | caught up in that moment, it feels like that's the right thing to be worrying about. And what you're doing is you're trying any fucking way to distract |
| 419 | 01:17:01,020 --> 01:17:12,450 | yourself from the discomfort of what you're going through at that moment. That's what's really going on. That's the very thing that piercing pain of frustration |
| 420 | 01:17:12,450 --> 01:17:28,740 | and anxiety and impatience. You're trying to distract yourself. Because you know what you should do and you won't win when the skilled trader, the one that |
| 421 | 01:17:28,740 --> 01:17:38,190 | seasoned and learned how to deal with this stuff over years of doing it, lost money lost accounts, and figured out oh, well, these are periods where I fuck up |
| 422 | 01:17:38,190 --> 01:17:50,190 | and I gotta stop doing it when I see times when there cannot be any hesitation. No hesitation whatsoever. All you have to know that this is the right thing to |
| 423 | 01:17:50,190 --> 01:17:58,740 | do. And if it would have read it like, well, look what happened today. It eventually went to 3095. And there there abouts. But it didn't go there before |
| 424 | 01:17:58,740 --> 01:18:11,430 | taking my stop. It could have just kept on going higher and never went to my stuff. And I could have closed the trade entirely. And I still would be talking |
| 425 | 01:18:11,430 --> 01:18:21,120 | to you like I am today right now. Because you have to know yourself. You have to know what you're going to be thinking how you're going to react. And young man |
| 426 | 01:18:21,120 --> 01:18:31,110 | I'm telling you. Those are not the moments where you want to pony up and cowboy up. I'm gonna stick with this, take my stop loss off open my stop up more trade |
| 427 | 01:18:31,110 --> 01:18:42,000 | larger into the into losing position that I know is likely to materialize. You don't want to do that. It's going to feel like you should do it. Because you're |
| 428 | 01:18:42,000 --> 01:18:53,190 | going to treat it like a video game. In this shooting a video game. This stuff will put you in Porterville working the rest of your life type shit. And it's |
| 429 | 01:18:53,490 --> 01:19:08,070 | something that you can manage your way out of. As soon as you feel that discomfort. The tendency to think irrationally about it. Your breath increases |
| 430 | 01:19:08,070 --> 01:19:16,530 | in its rate of inhale and exhale. You start to hyperventilate slowly. You don't realize it yet, but you feel it. You're looking around, your palms are sweating. |
| 431 | 01:19:17,340 --> 01:19:29,370 | You're irritable. You're hoping that nobody around you says anything to you. And worse off. If you're doing this at work. You can lose your job because of the |
| 432 | 01:19:29,370 --> 01:19:37,560 | way you're reacting. You're not doing your job already because you're trading you're distracted. You're stealing from your boss, the company that's gainfully |
| 433 | 01:19:37,590 --> 01:19:51,570 | paying you with your employment. You're trying to play casino and now you know you should get up on a table and walk away. And you are that Ferrari in neutral |
| 434 | 01:19:52,380 --> 01:20:06,990 | with the gas pedal floored. Ready to go. But you won't do it. You won't simply Let go of it, because you think that that only will be a sign of weakness. If it |
| 435 | 01:20:06,990 --> 01:20:13,380 | would have moved in your favor after you got out, you would have said, See, I failed, I didn't hold on to it when I was feeling uncomfortable, I'm telling |
| 436 | 01:20:13,380 --> 01:20:23,640 | you, when you feel uncomfortable, and it starts physically manifesting in you, you get asked to trade through partials are entirely, there is no shame in that |
| 437 | 01:20:23,640 --> 01:20:36,330 | there is absolutely nothing wrong with that. That's how you coach yourself through growing pains. And it's also how you keep your account, solvent. Because |
| 438 | 01:20:36,330 --> 01:20:49,440 | you will lose control of yourself. Unless you control yourself. The broker is not going to do it for you. watching my videos, me talking to you right now, |
| 439 | 01:20:49,680 --> 01:20:59,070 | it's not going to do it for you. It doesn't, it doesn't do it for you. You can sit there and nod your head saying, I understand what you're saying. And you're |
| 440 | 01:20:59,070 --> 01:21:05,550 | gonna end up in a situation and none of this is going to do anything for you. You might even remember me talking about it. When it happens. You're like shit, |
| 441 | 01:21:05,550 --> 01:21:09,720 | here it is. I'm in that moment. He's talking about fuck ICT. I'm going in, I'm holding on to it |
| 442 | 01:21:17,250 --> 01:21:29,520 | that's when regret comes in. And then what happens is the fear and anxiety about just getting out of it. And what if it moves in my favor? If I got out, I'll be |
| 443 | 01:21:29,520 --> 01:21:45,870 | wrong there too. Oh, is replaced with I gotta get it back. I gotta get back. Like I, I lost something there. I lost a potential profitable trade there. And I |
| 444 | 01:21:45,870 --> 01:21:52,290 | gotta do it on the next one. Because that one wasn't right. But I gotta go out and do it again, in something else, this currency pair didn't do it. This one |
| 445 | 01:21:52,290 --> 01:21:58,770 | now is the one that's going to do it. Let me jump out, we're gonna do that. That's another reason why I tell you to focus on one or two pairs. Because if |
| 446 | 01:21:58,770 --> 01:22:07,260 | you have 28 pairs, listen to the people on Twitter that aren't profitable. Teaching don't take partials, and they watch all these different markets. Let me |
| 447 | 01:22:07,260 --> 01:22:22,830 | tell you something. I am not a genius, okay. I'm not a mental giant. I am aware that even if I didn't have the mental baggage I have. I don't believe I could |
| 448 | 01:22:23,340 --> 01:22:36,420 | physically track 28 markets, and realistically be able to do what I do. It's just, it's too many, it's too many things to consider. So it's better for you to |
| 449 | 01:22:36,420 --> 01:22:43,890 | learn on one market. Regardless if you're a forex trader. And I know some of you're like thinking back to Forex. I'll get back to Forex. When I want to get |
| 450 | 01:22:43,890 --> 01:22:53,010 | back to Forex. I'm teaching students how to trade. And everything that I'm teaching here with E Mini s&p is applicable to Forex. It's all same thing, it's |
| 451 | 01:22:53,010 --> 01:23:00,270 | price. And the things I'm teaching you about managing yourself, and the psychological lessons and money management and risk management and trade |
| 452 | 01:23:00,270 --> 01:23:06,210 | management, all those things are going to be factors that you're going to have to contend with, whether you're trading Forex, crypto, or whatever how you want |
| 453 | 01:23:06,210 --> 01:23:18,240 | to trade. You have to manage yourself. So many young people that are single, and you're trading body fluids on the weekend, and you can't control yourself there. |
| 454 | 01:23:20,820 --> 01:23:33,660 | You have to control yourself here. You must control yourself here. No one can help you with that. It's something that you do individually. You own it. And |
| 455 | 01:23:33,660 --> 01:23:41,130 | it's uncomfortable, when you find out that you aren't as strong in the areas that you were expecting it to be. I'm going to know how to do this, I'm gonna |
| 456 | 01:23:41,130 --> 01:23:49,890 | pick the right trades, I'm going to pick the right order blocks the right fair value gets, I'm going to have no fear getting in the trade. Great. That's a good |
| 457 | 01:23:49,890 --> 01:24:04,770 | start. Now, once you get in there, and it doesn't move for you, the real learning starts. How do you know when to hold on to the trade? See, all the |
| 458 | 01:24:04,770 --> 01:24:20,670 | teachings that I've done and all the lecturing, and I'm talking all the way back to 1996. That's when I first started teaching that whole the whole time. It is |
| 459 | 01:24:20,670 --> 01:24:33,780 | astonishing to me that folks don't ask how to overcome these moments. It's like they they block it out. Like they know it exists in their own trading. And by I |
| 460 | 01:24:33,780 --> 01:24:44,130 | guess by asking that they feel like that's a weakness. They'll ask how do you pick the right order block? How do you know when the fair baguette stays open? |
| 461 | 01:24:45,540 --> 01:24:56,340 | How do you know when market structure is really not a stop hunt? T. Most of my students will ask questions like that. Because it's not something that's |
| 462 | 01:24:56,340 --> 01:25:11,340 | pointed. It doesn't take anything out of them. or require a blood offering something that you had to go through in terms of uncomfortable misery, |
| 463 | 01:25:11,670 --> 01:25:20,190 | discomfort. It's like you're, you know, it's there. But you don't want to bring it up. That uncomfortable, I should get out of the tray. I don't know what to |
| 464 | 01:25:20,190 --> 01:25:28,800 | do. I mean, we were starting to take my stop off, holding on to a loser. You know that folks that are here listening to you know, you've had that, and it's |
| 465 | 01:25:28,800 --> 01:25:37,230 | uncomfortable hearing about you, I think can get off the subject. It reminds me about x. I can't, I can't, I can't vibe with you, and you're doing this. This |
| 466 | 01:25:37,230 --> 01:25:51,960 | ain't a vibe. This is growth. This is learning how to be impeccable. With risk management, knowing yourself. Because all the entry techniques are useless. It's |
| 467 | 01:25:51,960 --> 01:26:02,940 | shit. If you don't have an answer yourself, if you can't recognize when the market is no longer likely to deliver where you need it to deliver, and it's |
| 468 | 01:26:02,940 --> 01:26:14,550 | more likely to hit your stop loss. He needs to know what you're going to do. And it needs to be consistent every single time. You don't think about it, it's just |
| 469 | 01:26:14,550 --> 01:26:24,300 | a matter of when you touch something hot, and it burns, what do you do, you retract your hand, real quick, boom, your brain is telling your arm, get your |
| 470 | 01:26:24,300 --> 01:26:34,590 | finger away from the hottest shit right now. You don't even think about it, your brain does as good as its second nature. In trading, as soon as you pick up, |
| 471 | 01:26:36,210 --> 01:26:48,750 | that you're in a position that now is not high probability. And you're spending a whole lot of emotion, a whole lot of psychological equity, you're worrying |
| 472 | 01:26:48,750 --> 01:26:56,310 | about it. Whereas when you put a trade on, in the beginning, I'm not saying you won't have these feelings and these concerns about whether or not you're gonna |
| 473 | 01:26:56,310 --> 01:27:01,650 | be right or wrong, because that's normal. But eventually, when you know what your model is, and you get experienced dealing, you're not gonna be afraid to |
| 474 | 01:27:01,650 --> 01:27:09,540 | push the button, you're not gonna be afraid to put your stop loss there. But when you get into those positions where it feels like it's probably not going to |
| 475 | 01:27:09,540 --> 01:27:23,580 | pan out for you. The worst thing that you could be doing, the worst thing is showing people that you're in that trade. And then it materializes. It's usually |
| 476 | 01:27:23,580 --> 01:27:30,750 | the guys that will send me something they got a trade on, it's already in profit. They have their stop loss that they just put on because it wasn't when |
| 477 | 01:27:30,750 --> 01:27:39,060 | the whole time they had to trade open. You think I don't see that shit. I'm in there. I'm in the room with you. I know you're doing okay. And you're just right |
| 478 | 01:27:39,060 --> 01:27:50,760 | before your limit orders taken, or would have been taken. And then it's uncanny. It's uncanny? How immediately that one minute chart starts consolidating and |
| 479 | 01:27:50,760 --> 01:28:01,170 | pulling back into a fair value gap that you don't expect. And now you're feeling it. You're thinking shit. Why the fuck that I just sent that tweet guys at, man. |
| 480 | 01:28:01,200 --> 01:28:09,330 | I'm flipping out here. I should have hit my target by now. He's watching me. Everybody else is watching me. The trolls are going to troll me now. What are |
| 481 | 01:28:09,330 --> 01:28:19,680 | you doing? You're not managing your trade. You're not managing the trade. And you're making your trade, my trade, Twitter's trade, and the trolls trade. And |
| 482 | 01:28:19,680 --> 01:28:34,110 | guess what? We're all winning. We're in a free trade. When you lose. It costs us nothing. When you win, it doesn't mean anything to us. We're neutral. We don't |
| 483 | 01:28:34,110 --> 01:28:47,670 | care one way or the Delta neutral. We don't have any. We don't we don't care. But now you do more than you did before you sent that tweet. You've invited |
| 484 | 01:28:48,090 --> 01:28:57,570 | chaos. And it always shows up. It's never fucking late to the party. It's showing up no matter whether you want it there or not. You invite it. It's |
| 485 | 01:28:57,570 --> 01:29:08,550 | coming. And live streaming when you can't trade and you're emotionally unstable and you're trying to have a vendetta. You're going to hit the bed and you're |
| 486 | 01:29:08,550 --> 01:29:25,140 | proven it. You are a recipe for classic toxic, unprofitable trading. They need to stop stop doing what you're doing. Stop lying and saying I've done things |
| 487 | 01:29:25,140 --> 01:29:39,960 | that I didn't do. Everybody sees I can trade. Everybody knows it now. But they're also watching you. do more harm to your brand. Than you doing it to |
| 488 | 01:29:39,960 --> 01:29:58,860 | yourself. Just stop to stop. There's no need for what you're doing. Everybody's coming to my Twitter, talking shit. Explain what I've been showing you. Explain |
| 489 | 01:29:58,860 --> 01:30:09,120 | what I've been calling beforehand. It's not cherry picking. I am here, just trying to help. That's all I'm trying to do. I'm not trying to be Billy badass. |
| 490 | 01:30:09,420 --> 01:30:19,440 | But if you want to be a victim of them get in at Robins cup, officially. I have no problem, I won't even badmouth you, when I'm beating the fuck out of unit. I |
| 491 | 01:30:19,440 --> 01:30:32,160 | won't even say nothing nasty. I'll just quietly just do it. That's not what I'm here to share. I'm here to let you know how to do this. And some of you are |
| 492 | 01:30:32,160 --> 01:30:43,890 | wasting the opportunity. You're wasting it. And you won't realize you've wasted until next year when I'm not doing it. I wish I would have I wish I would have |
| 493 | 01:30:44,550 --> 01:31:01,470 | is something you can't do anything with. And when you're trading, and you have these tug of wars, of knowing the probabilities have shifted. You do not open |
| 494 | 01:31:01,470 --> 01:31:07,200 | your stock up to take on more risk. If you've limited it by moving it up or down in deference to your trade. |
| 495 | 01:31:09,600 --> 01:31:19,260 | You stick with it. You've done the job as the trader, the analyst and you said trim the risk. You executed on it. You rolled the stop. You've took partials. |
| 496 | 01:31:19,440 --> 01:31:28,560 | Now, the MLS is killing up and saying hey, watch this. This is an area where it should be moving. Pay attention to it. Because if it doesn't, you need to start |
| 497 | 01:31:28,560 --> 01:31:38,820 | taking the risk off or bail. That's the internal dialogue I'm having. Leaning on experience. I'm not hearing the voice. I do this. But it's I'm trying to |
| 498 | 01:31:38,820 --> 01:31:51,450 | personify it for you. So you understand the the dialogue between Tallinn on my own experience that serves me well. And how I encounter that with opposition in |
| 499 | 01:31:51,450 --> 01:32:03,090 | price action. If I trade every single day, and I'm trying to do it every day. I don't like I don't pursue this as a trader. But because I'm mentoring, I'm |
| 500 | 01:32:03,090 --> 01:32:12,840 | teaching you all. And sometimes I think like I was talking to my son before I came up here. He was there every day you aren't trading. I said when I'm |
| 501 | 01:32:12,840 --> 01:32:25,860 | teaching No. But in trading, I don't want to be trading every day. Like I don't I want it to be where I don't have a condition like I had today. I can find |
| 502 | 01:32:25,860 --> 01:32:37,740 | profitability just about any day. But it doesn't mean I won't encounter a stop out or losing trade here and there. If I force myself to trade every single day, |
| 503 | 01:32:39,060 --> 01:32:46,470 | if I say I'm going to go in today and take a trade, I'm going to trade the morning session, I'm going to trade the afternoon session, I'm going to do it |
| 504 | 01:32:46,470 --> 01:32:56,940 | every single day. Invariably, I'm going to have a series of losing trades sprinkled across the month. It doesn't mean I'm drawing down to 90% drawdown |
| 505 | 01:32:58,740 --> 01:33:07,710 | this whole business you're never gonna see ICT show a 90 day track record. Okay, no problem. But I want to see yours too. But I'll show you my first Don't worry, |
| 506 | 01:33:08,100 --> 01:33:22,980 | I'll do that. But it's not going to prove anything when that's done too. It's not going to prove anything. You gonna say I had somebody at trading view helped |
| 507 | 01:33:22,980 --> 01:33:23,370 | me out |
| 508 | 01:33:28,890 --> 01:33:38,760 | there so I mean, you can see who's really, really in control themselves in this industry, the ones that are chatting to me constantly kind constantly chatting |
| 509 | 01:33:38,760 --> 01:33:48,690 | to me or chatting about me. You know, damn well, these people are miserable, that they're miserable. That I am not worrying about you fucking people until |
| 510 | 01:33:48,690 --> 01:34:03,150 | you tweet to me. I'm not worrying about it. So you don't want to grow into this toxic thinking. But these individuals are their poster boys. For what not to do |
| 511 | 01:34:03,180 --> 01:34:20,460 | in trading. It's not a team sport. There are no heroes. I'm not a hero. I'm not a Titan. I'm not a goat. The goat I'm not the king of the charts. Bullshit. I am |
| 512 | 01:34:20,490 --> 01:34:32,430 | trying my best to continuously deliver things that you're going to encounter as a trader. And it's my goal is to simply just help you That's all. That's all I |
| 513 | 01:34:32,430 --> 01:34:46,500 | want to do. I want to help you. Because when I stop in December and I say my final yeah, there it is. Happy New Year as we go into 2024 ICT is not doing what |
| 514 | 01:34:46,500 --> 01:35:04,470 | you're seeing him do. ICT is being husband 99% of the time. That's what I'm doing and I'm with you every day, I'm pouring myself into lessons that you're |
| 515 | 01:35:04,470 --> 01:35:11,970 | going to see on preparing even the live streams. You know, I pointed to where it was going to go today, if you were just paying attention to the live stream, |
| 516 | 01:35:12,240 --> 01:35:20,670 | just look at, it's still there. Just go on the YouTube channel, look it up, straight there. Just go into live sessions, click it, you'll see there's a small |
| 517 | 01:35:20,670 --> 01:35:35,610 | little I don't even know what it's titled flutter. It's right there on the chart. It's the only annotation on the chart 3945 by side liquidity. But there's |
| 518 | 01:35:35,610 --> 01:35:54,330 | probably luck too. It's cherry pick. You're going to have struggling points in your learning. And the best thing you can do is expect them expect them in these |
| 519 | 01:35:54,330 --> 01:36:04,560 | instances and know how to deal with them early on. I didn't learn this from a book. I've read Mark Douglass's book, I've read all kinds of other trade |
| 520 | 01:36:04,560 --> 01:36:13,710 | psychology books, and things that mentioned certain things and like I mentioned before, Alexander elders book, trading for a living the first half of that book |
| 521 | 01:36:13,710 --> 01:36:26,190 | before he even starts talking about charts. That that whole business about wrestling with oneself, and everything that he talks about in that first half of |
| 522 | 01:36:26,190 --> 01:36:38,580 | that book that is worth more than Mark Douglass's book. It talks about real root issues as humans, whereas Mark Douglas will talk about trade related things, |
| 523 | 01:36:39,120 --> 01:36:53,970 | then you got to get to the core root cause of things. alcoholism, substance abuse, inferiority complexes, superiority complexes. Bullying, are you a bully |
| 524 | 01:36:53,970 --> 01:37:08,070 | when you're a kid? Were you bullied as a kid? You think you'd know them by looking at how they act today on social media? toxic, toxic and you're trying to |
| 525 | 01:37:08,070 --> 01:37:20,190 | be a mentor, trying to run a business, and you're chatting to me making memes and Photoshops you're about to see me? Don't corbs show. I'm slated to be with |
| 526 | 01:37:20,190 --> 01:37:28,350 | him on the 30th of January. I'm not sure if he does the same day broadcasts or whatever, you're gonna find out that you don't you're not gonna see a bald fat |
| 527 | 01:37:28,350 --> 01:37:44,400 | guy. Nope, it's not. That's not who I am. But that's okay. You know, surprises galore. And this year, I want you to do well, I do want to see you do well. And |
| 528 | 01:37:44,400 --> 01:37:54,690 | I want you to understand that some of these problems that creep in, which are normal, there are opportunities for you to be excellent as a trader know exactly |
| 529 | 01:37:54,690 --> 01:38:05,220 | why you're doing something not. Should I shouldn't I, I'm afraid to make a decision. Fuck that. When it has to do with money. You're never wrong. Cutting |
| 530 | 01:38:05,220 --> 01:38:13,380 | the risk entirely. There's no shame in that. And anybody teaches you that that's a problem. Or you're a pussy. Oh, look at you. Look at you. You can't hold your |
| 531 | 01:38:13,380 --> 01:38:22,800 | trade. Oh, you don't know what you're doing. These people aren't making money. People that are making money aren't running around trolling other people about |
| 532 | 01:38:22,800 --> 01:38:30,810 | not making money. I'm making fucking money, folks. Okay, I'm in my own lane. I'm teaching people all over the place. Okay, I'm showing it improving. I'm calling |
| 533 | 01:38:30,810 --> 01:38:43,140 | it I'm executing it, I'm showing it and these other people aren't showing shit there and draw them. Consider your source. So I'm asking just to be reasonable. |
| 534 | 01:38:47,520 --> 01:39:01,590 | If you want to learn, you want to do it the right way. I'm teaching you that. It's not always give me a trade entry. Show me the new magical voodoo technique |
| 535 | 01:39:01,590 --> 01:39:10,320 | of getting in there and doing something that nobody else does, because that's what everybody wants to do right now. They want my new magic trick. And go |
| 536 | 01:39:10,320 --> 01:39:23,220 | rename it and make a course with it. When the better thing for you to learn is how to manage yourself. You're constantly in this state of chasing something |
| 537 | 01:39:24,390 --> 01:39:40,800 | when you're supposed to be spending the time this year diving into yourself. I did not understand how much of a impediment I was to my own success early on. I |
| 538 | 01:39:41,220 --> 01:39:53,490 | all the time looked at outward excuses. I blamed my first wife that she left me I used that guilt. And no wonder I couldn't make any money and she'd left me and |
| 539 | 01:39:53,910 --> 01:40:05,220 | I'm distracted by that. That's bullshit. That was bullshit. Because every night when I was studying I was motivated by thinking I'd winter back. So that wasn't |
| 540 | 01:40:05,220 --> 01:40:13,830 | it. There was just a perfect excuse when I would blow my account, I would say, Oh, well, you know, it's because her, she's already with somebody else. She |
| 541 | 01:40:13,830 --> 01:40:23,640 | ain't seen me, I ain't slept with her. She didn't cheat on me again, that's a dead issue. But human me wanted to take the fault and place it on something |
| 542 | 01:40:23,670 --> 01:40:37,350 | else. But me and my inability to have enough experience and know what I should know. You'd learn this lesson. If you're able to trade with real money long |
| 543 | 01:40:37,350 --> 01:40:48,570 | enough, when you get in news, painted into a corner type scenarios, like you have nowhere to go. And you feel like you're trapped. When you're not just get |
| 544 | 01:40:48,570 --> 01:40:58,650 | out of the trade, close it. As soon as you start worrying about the outcome of the trade, it says becomes a worrisome thing. And it's a source of anxiety, or |
| 545 | 01:40:58,920 --> 01:41:09,330 | discomfort physically, and it's manifesting physically. That's the surest sign that you need to get out. Close the trade don't even go back in the same day. |
| 546 | 01:41:10,140 --> 01:41:18,270 | And have no regrets about that. There's nothing wrong with that. But everybody on social media will fucking tell you, it's your you're weak. You're a pussy. |
| 547 | 01:41:18,840 --> 01:41:31,320 | You can't do this. Because look how soft you are, you're not hard. I can tell you something. You can go real, real hard into the poor house. Trying to over do |
| 548 | 01:41:31,320 --> 01:41:42,270 | something. And you're insisting it's your going to be your way. And you lose sight of what it is you're supposed to be doing. You're there to make money. |
| 549 | 01:41:43,140 --> 01:41:53,550 | You're not there to win friends and influence people. When you look at social media, that's what trading is. Get more followers, get more likes get |
| 550 | 01:41:53,550 --> 01:42:09,480 | worshipped. He's got more comments in the section of his videos than I do. He's got more followers than me. When real traders, like real people that do this and |
| 551 | 01:42:09,480 --> 01:42:24,450 | do it well. That's the focus. That's it. I don't want to see your glad handing comments. I don't care if you'd like my posts, I'm going to still do them. I |
| 552 | 01:42:24,450 --> 01:42:32,430 | don't care if you stay in the whole Twitter space and leave early. Or say I talk about dumb shit. I don't give a fuck. I'm you you are blocky. And that's the way |
| 553 | 01:42:32,430 --> 01:42:41,880 | it is. I don't need to see your bullshit. But you can't do that with your own trades. That's the that's the wrestling point that I want you to understand. |
| 554 | 01:42:42,330 --> 01:42:51,090 | When the market is not doing something that you wanted or expected to do, and you're in a trade, you have to make a decision. You're at a crossroads. What do |
| 555 | 01:42:51,090 --> 01:43:04,290 | you do? What are you going to do? What is the process that you are always going to go through? First rule? Am I physically feeling discomforted by this? Is it |
| 556 | 01:43:04,290 --> 01:43:22,890 | physically affecting me? Because I'm gonna tell you something. I'm 50 I have when I was 36 2009, march |
| 557 | 01:43:22,920 --> 01:43:40,950 | 9 2009. I read that like, it was like 2012 Yeah, 2012. I was trading. And I got into a trade that really wasn't that big. But then I started worrying about the |
| 558 | 01:43:40,950 --> 01:43:54,270 | outcome of it. And it was not even that big of a deal. And I tried to close a trade, and it wouldn't take my order. So immediately, unless I my face got no |
| 559 | 01:43:54,420 --> 01:44:06,060 | sorry, tingling. I'm like, oh shit. That's weird. And I felt like my eye my left eye was like, like, if you put your finger on your outside edge of where your |
| 560 | 01:44:06,060 --> 01:44:18,270 | eye meets your eyelashes, I guess, at the end of your eyebrow. It felt like someone had their fingertip right there into slightly this point away from the |
| 561 | 01:44:18,270 --> 01:44:29,160 | corner my eye. And it was all tingling. And I'm thinking myself What the hell is that? And it felt like it was moving down into the corner of my lip on the left |
| 562 | 01:44:29,160 --> 01:44:37,170 | hand side. And the more I thought about it, the more I started thinking about oh, now it's just a stroke because my father has had multiple strokes. His |
| 563 | 01:44:37,170 --> 01:44:47,340 | father literally died from a stroke. When my father went to jail. He got arrested and he's served in two consecutive life sentences plus 20 years and |
| 564 | 01:44:47,340 --> 01:44:56,670 | then I don't know how many years he got from breaking out the mayor into Maryland penitentiary in 80, something whatever it was, but when they showed the |
| 565 | 01:44:56,670 --> 01:45:05,100 | newspaper of my dad being arrested for a contract Murder. My grandfather saw the paper in his head to slump, they were done just like that stroke to stick in |
| 566 | 01:45:05,100 --> 01:45:16,500 | that wreck. So real quick boom. So, in my family strokes are an issue that is a thing that goes that and diabetes. So my first thought was, am I having a |
| 567 | 01:45:16,500 --> 01:45:27,270 | stroke? And what triggered it was something unexpected. I couldn't get out of the trade, the broker would not, it wouldn't, it wouldn't let me close. Okay, |
| 568 | 01:45:27,780 --> 01:45:37,440 | it's not that big of a deal, even. Even if it would have moved on me into the stock, it wouldn't be a big deal. But that sense of I'm not in control. I'm not |
| 569 | 01:45:37,440 --> 01:45:47,280 | in control, and I can't fix it triggered instantly, a body symptom. You might have this similar thing happened. I didn't have a stroke. By the way, I went to |
| 570 | 01:45:47,280 --> 01:45:56,880 | the hospital, everything's checked out. Heart was fine. Brain was fine. No issues. Thank you, Jesus. But no long story short. These body symptoms are going |
| 571 | 01:45:56,880 --> 01:46:11,070 | to manifest themselves through anxiety, fear, depression and anxiety. Those three triggers are going to cause you to have irrational fear, uncontrollable |
| 572 | 01:46:11,070 --> 01:46:21,240 | fear, and sometimes fear so gripping and terrifying, that you're convinced that you're about to die. Now, how are you going to be able to navigate the |
| 573 | 01:46:21,240 --> 01:46:36,090 | marketplace if that happens to you? If you feel that sense of impending doom, and anytime you're dropping dead. But when I was feeling that, I was like, how |
| 574 | 01:46:36,090 --> 01:46:45,000 | embarrassing would it be if my wife finds me laying here dead? Like, that's embarrassing, and that cause more anxiety? Like, what the fuck if I'm dead, I'm |
| 575 | 01:46:45,000 --> 01:46:55,350 | gonna worry about it, right? But that's your rational thoughts. And when you get caught up in that state of panic, because the markets not doing what you want to |
| 576 | 01:46:55,350 --> 01:47:07,620 | do, you're gonna think irrationally. So you have to have a process that's written out, preferably, at your trade desk, in front of you on the wall |
| 577 | 01:47:07,680 --> 01:47:22,140 | laminated. if shit goes upside down, do this. My protocol is this, take something off, does it subside? If it doesn't take more off? If it doesn't work, |
| 578 | 01:47:22,590 --> 01:47:30,360 | take it down to the smallest position size, which is what I did today. If that doesn't subside it, then you close a tree and have no regrets about it and be |
| 579 | 01:47:30,360 --> 01:47:42,510 | done. Who gives a shit if it goes up? Parabolic or drops? Parabolic? Who cares? You have to be balanced. And that sounds crazy coming from me because I'm not |
| 580 | 01:47:42,510 --> 01:47:53,100 | chemically balanced. But listen, I know my shit. Okay, I know, I know what is going to be the barriers for you. And most of you that keep coming back to me, |
| 581 | 01:47:53,310 --> 01:48:01,560 | you know, I know my shit because you have experienced it. And you're also experiencing now consistency, profitability, you can find the winning the |
| 582 | 01:48:01,560 --> 01:48:10,710 | winning trades, you're making money now. Okay, so I've won you over. And I'm increasing that level of understanding. By telling you it's not a weakness for |
| 583 | 01:48:10,710 --> 01:48:20,670 | you to be able to pull the plug when it's time. Like it's those trading environments. You should have no regrets about euthanizing that trade. Just |
| 584 | 01:48:20,700 --> 01:48:32,760 | completely take it out, pull the plug on it, it's no longer in a position where it can affect you. Walk away from it. How many trades? Have you seen me execute |
| 585 | 01:48:32,760 --> 01:48:48,900 | on just this year? Daily? What if half of them were just me taking some of it off in partials and then pulling the plug and never got to the end result? Would |
| 586 | 01:48:48,900 --> 01:48:59,730 | that be losing? No. Not at all. I wouldn't feel like that was a losing trader. No one should look at that as a failed mentor teacher. Because it's still |
| 587 | 01:48:59,760 --> 01:49:10,320 | building the bottom line on finding setups, engaging them and following the logic that would lead to proper trade management. But if you don't have these |
| 588 | 01:49:10,320 --> 01:49:22,950 | protocols in place, and making room for a process, that you don't panic, and you need to have it written out why written out. Because you're going to look around |
| 589 | 01:49:22,950 --> 01:49:32,850 | your room. When you're in that moment of panic. You're going to reach for those things that make you feel comfortable. For me. It's a deck of cards. And I start |
| 590 | 01:49:32,850 --> 01:49:44,670 | fidgeting, you know, I do shuffling you know, I fandom I do I'm like I'm ideal 21 Hands to Myself and a hand in front of me and I play 21 I distract myself |
| 591 | 01:49:45,120 --> 01:49:55,950 | when I'm feeling that. And if I can't focus on following through on the trade idea. Then I had to start taking something off the trade. Here's little fidget |
| 592 | 01:49:55,950 --> 01:50:06,000 | spinners I have a couple of them is And as you start spinning that thing, and you just, you feel like you want to spin it faster and get suspended before. |
| 593 | 01:50:08,100 --> 01:50:15,660 | It's telling you something that's a manifestation physically, that you're trying to do what you're trying to exert your will, when something other than the |
| 594 | 01:50:15,660 --> 01:50:25,320 | market that who's right now ignoring you. You want that market to bend your will, it's not going to fucking bend to your will. So stop thinking that you |
| 595 | 01:50:25,320 --> 01:50:39,930 | must bend to its will. And everybody on social media is trying to communicate today don't ever have that problem. And that is horseshit. That's bullshit. |
| 596 | 01:50:41,670 --> 01:50:54,360 | That's why you do not see them consistently. That's why you see them hiding shit. Deleting their streams when they lose not updating their my effects book. |
| 597 | 01:50:57,630 --> 01:51:10,290 | That shit is showing you that they're wrestling with things. They're wrestling with things just like you just like me. Because trading is mental chess with |
| 598 | 01:51:10,350 --> 01:51:27,390 | yourself. And it gets back to the question I asked on. I can't remember what the SoundCloud is it SoundCloud now I'm wondering if I said that right. I did these |
| 599 | 01:51:27,390 --> 01:51:42,060 | like are you deserving? That that whole presentation I gave about that? Are you are you in a position where you feel like you deserve to be successful? Because |
| 600 | 01:51:42,060 --> 01:51:53,850 | much like an abusive relationship does to the abused. They feel like they don't deserve anything but the abuse after they've been abused over and over again. |
| 601 | 01:51:58,260 --> 01:52:08,940 | You feel like? Well, it's just the way it is. And you freeze up. And you just want that shiny white knight to come in there. And some magical good fairy a |
| 602 | 01:52:09,150 --> 01:52:19,980 | good luck comes near and sprinkles the good dust of good luck on your outcome. And you weather it and you get out by the skin of your teeth. That's not going |
| 603 | 01:52:19,980 --> 01:52:31,140 | to happen in trading. There's no Santa Claus. Okay, there's no Forex Jesus isn't coming there. God's not up there listening to you praying. Please get me on this |
| 604 | 01:52:31,140 --> 01:52:41,610 | trade. The fact that he's given you the physical manifestations, that's him telling you get out of the trade. I believe God exists when he shows up. Oh, |
| 605 | 01:52:41,610 --> 01:52:49,710 | he's showing up in physical manifestations. He's speaking to you through your conscience, close the trade get out of the trade, you're in something that's |
| 606 | 01:52:49,710 --> 01:53:00,240 | toxic, and you're trying to hold on to it. But I love him. He beats me but I love him. He's cheated on me but I love him get out of that toxic relationship |
| 607 | 01:53:00,780 --> 01:53:10,560 | that trade is a toxic relationship it's a go nowhere that in relationship you're gonna get nothing from that relationship. It's just going to suck more blood |
| 608 | 01:53:10,560 --> 01:53:10,890 | from you. |
| 609 | 01:53:12,180 --> 01:53:20,070 | And it's going to make you feel drained. And you're not going to be able to be energetic to take the next good trade bitcoins because you are now further |
| 610 | 01:53:20,370 --> 01:53:33,030 | abused and damage your damaged goods now. Tomorrow when the market sets up a beautiful setup. Because you wrestled with you felt like it was this is the |
| 611 | 01:53:33,030 --> 01:53:41,670 | right thing to do. I'm doing the right thing I'm sticking to my my guns I'm gonna go out with you know, with everything and I'm fighting hard for this trade |
| 612 | 01:53:41,670 --> 01:53:54,900 | the workout because I need to feel like I'm gonna be accomplished and successful. And you're doing everything wrong. The best money managers in the |
| 613 | 01:53:54,900 --> 01:54:02,460 | world are the one that says Fuck, this isn't a good I'm closing it. And that's it. There's no more they're not regretting it. They're not thinking about it, |
| 614 | 01:54:02,820 --> 01:54:18,930 | running scenarios what they're done. Next. Next, what's the next one next? You have to treat your bad trades or questionable trades that you're in. As soon as |
| 615 | 01:54:18,930 --> 01:54:31,200 | they start manifesting physically in you. You have to have a process. It has to be written. It must be visible where you are trading. Another reason why you |
| 616 | 01:54:31,200 --> 01:54:49,830 | don't trade on your phone. I'm riding the bus home. This got me 50 pips, forex King. Hello. No, you are literally gambling. You're gambling. Because here's |
| 617 | 01:54:49,830 --> 01:54:58,950 | what's going to happen one day when you're doing this. Ask me. You're gonna be out in the public. There'll be minding your own business. Your wife is going to |
| 618 | 01:54:58,950 --> 01:55:07,140 | be predisposed spirits suppose and distracted with Victoria secrets bra sale. You're just minding your own business walking around, you're not being trying to |
| 619 | 01:55:07,170 --> 01:55:17,610 | be creepy, you don't care about the pain, ease and things all around you. You're in your phone, minding your business on empty for no problem, no harm no foul, |
| 620 | 01:55:18,300 --> 01:55:28,530 | you can put the trade on, you're gonna be managing it. Okay? Then shits gonna go upside down and you're gonna be looking around and you're pacing back and forth |
| 621 | 01:55:28,530 --> 01:55:36,960 | and now everyone around you is looking at you thinking, what the hell's this guy doing, you're not trying to be next to your wife, because you don't want her to |
| 622 | 01:55:36,960 --> 01:55:45,690 | see that you're on to NT four. Again, you're walking around, you're breathing a little bit heavy, you're pacing back and forth up right steel Santamaria, you're |
| 623 | 01:55:45,690 --> 01:55:50,640 | getting ready to take those friggin paintings and stick them in your coat pocket and run out the store aren't you, that's what everybody's gonna be thinking |
| 624 | 01:55:50,640 --> 01:56:00,600 | you're gonna do. And now you got me thinking about that, or something to that effect like I was. And I can't even focus on the trade on it, I can do it. So |
| 625 | 01:56:00,630 --> 01:56:09,690 | that's just going to creep in, something like that did you didn't expect nothing like that. But the real world, and shit that comes out of left field is going to |
| 626 | 01:56:09,720 --> 01:56:20,880 | pop into your trading. And you're not going to have what the process the protocol that you follow in front of you, because you're holding your phone. Or |
| 627 | 01:56:22,140 --> 01:56:31,800 | you might get lack of service. Internet, you're gonna you're in an area where you can't connection, you don't think it's gonna happen, it's happened, it's |
| 628 | 01:56:31,800 --> 01:56:42,480 | happened to me a lot. I don't trade on my phone. Unless I'm in the bed and I'm hooked up to my Wi Fi here. I'll do an example like that, where it's something |
| 629 | 01:56:42,480 --> 01:56:53,400 | simple, short, little type thing, nothing big. Just to get your attention to focus on something other than what you're worrying about. But you have to have |
| 630 | 01:56:53,400 --> 01:57:06,630 | it written down. How are you going to process and work through a protocol that's written out? How are you going to be able to weather compensate, cope, or |
| 631 | 01:57:06,630 --> 01:57:19,380 | euthanize that toxic trade? I told you what mine is. If it doesn't start painting out in a timeframe in my mind, once I feel those physical symptoms, |
| 632 | 01:57:20,220 --> 01:57:32,250 | among dis dis dusted by the fact that this mark is not moving to the will of ICT, how dare this son of a bitch sit around here in Hemet Hall and not move to |
| 633 | 01:57:32,250 --> 01:57:42,930 | my target? I'm recording this, it should be doing what I wanted to do. That's what's going on in my head. Today, I'm watching it. That's what's in my head. So |
| 634 | 01:57:42,930 --> 01:57:54,120 | as soon as I feel that, that's okay, Time Time to put a time limit on it. Two minutes this candle what next? It needs to start showing it to me. It doesn't. |
| 635 | 01:57:54,690 --> 01:58:05,610 | Okay, sorry, you don't get off? I got five contracts one off? Do I feel any better about it? Nope. All the down to the smallest one. Now, I don't care. I |
| 636 | 01:58:05,610 --> 01:58:14,640 | don't care what the outcomes going to be. Because I've taken as much as I can take off that trade. Because it's not going to go higher, and drops from where I |
| 637 | 01:58:14,640 --> 01:58:23,100 | got out all my partials and leave one contract remaining. Who's gonna argue and say that was the bad decision to do because I got out at the best case scenario |
| 638 | 01:58:23,100 --> 01:58:30,420 | I could have. With the four contracts that I peeled off, that weren't going any higher. And if I would have held on to them, it would have been full stop out on |
| 639 | 01:58:30,420 --> 01:58:50,520 | five contracts. That's a winning trade. But it didn't go to your 3945 level ICT, you're wrong. I had 8000 $109,187 of evidence in that demo account, that if I |
| 640 | 01:58:50,520 --> 01:59:02,490 | did those things any other way, that wouldn't be the case, that wouldn't be the result of it. So you can argue about all the things that don't matter. And never |
| 641 | 01:59:02,490 --> 01:59:14,850 | grow and improve your mindset about how you're going to endeavor. And work yourself through these moments that every trader is going to have for the rest |
| 642 | 01:59:14,850 --> 01:59:23,220 | of their career, you're going to have these moments where your trade isn't panning out. And you're going to have to wrestle with it. This is the reason why |
| 643 | 01:59:23,220 --> 01:59:37,080 | I tell you don't make the public your partner in trading. Social media is not your partner in your trading business. That's why he's saying people are |
| 644 | 01:59:37,080 --> 01:59:43,440 | floundering and failing and they're bent out of shape because they feel it and they can't get out of this situation because if they stopped doing what they're |
| 645 | 01:59:43,440 --> 01:59:51,810 | doing, they know what the public's gonna say. Oh, look, it's you. You stop putting your mind experts out there. Sam, listen to me. Okay. All the bullshit |
| 646 | 01:59:51,810 --> 02:00:03,090 | aside, I would whip your ass in that competition. Any competition? I would beat your shit silly. Here's my best advice to you Stop making your my effects book |
| 647 | 02:00:03,090 --> 02:00:15,330 | public. Just do it for the rest of the year. And then at the end of the year, show it, I promise you, you will do better. You'll do better. That guy corbs I |
| 648 | 02:00:15,330 --> 02:00:23,670 | like I keep promoting them all the time. I think he's a wonderful personality for this industry. He doesn't get out there and brag. He doesn't pretend to be |
| 649 | 02:00:23,670 --> 02:00:38,970 | something he's not. I think he's a pretty likable guy. And he tried doing live sessions and trading live. And I physically felt uncomfortable for him. When I |
| 650 | 02:00:38,970 --> 02:00:45,240 | was talking earlier, when he when I was talking about the trader that's throwing his glasses across the room and pitching sit around. He's who I was thinking. |
| 651 | 02:00:46,500 --> 02:00:57,930 | And I know in his mind, he was thinking book, Why am I on this fucking livestream doing this in front of everybody? And I told him, I don't think what |
| 652 | 02:00:57,930 --> 02:01:11,220 | you're doing is the most efficient way of doing what it is you're trying to be as a trader, I have no problems with someone trading, recording something, or |
| 653 | 02:01:11,220 --> 02:01:17,520 | not even recording and say, here's the trade I did. And here's the proof, either with a broker statement, or something to the effect of showing their entire |
| 654 | 02:01:17,520 --> 02:01:23,220 | trade history. I don't need to do that. I can fucking trade and record it. And then I'll show you everything afterwards, too. But I'm also going to tell you |
| 655 | 02:01:23,220 --> 02:01:34,290 | why I'm going to do it before I'm doing the trade. So I'm doing well beyond my effects book. But corbs he literally was out there. Going through it. wrestling |
| 656 | 02:01:34,290 --> 02:01:48,210 | with it. Who What? What was he contending with himself? I Guaran damn tee you. He was thinking to myself, Oh, man. If I, if I stopped doing this, they're gonna |
| 657 | 02:01:48,210 --> 02:02:01,350 | think I'm not a good trader. And that's why I told him publicly in this live streams. I said, in my opinion, it's not shameful for you to not do this. If you |
| 658 | 02:02:01,350 --> 02:02:10,050 | do a trade, show your executions later on in the lodge because the way you did it. Real traders will recognize that anybody else that wants to talk about it |
| 659 | 02:02:10,050 --> 02:02:17,970 | and talk all plants are bullshit. Fuck them in their opinion, they're Nobodies, they're going to work on Monday. They're gonna be hoping they get a week's |
| 660 | 02:02:17,970 --> 02:02:35,760 | vacation. Their opinions don't mean shit. And then when he stopped his reserves, his results improved. Again, why this the pressures off. But I felt that I felt |
| 661 | 02:02:35,760 --> 02:02:44,700 | that when I was with my first mentorship group, Aaron, three, six people. And they're all coming at me saying, answer this answer that look at this and look |
| 662 | 02:02:44,700 --> 02:02:56,790 | at that. And you know, how am I like to overdo it? Like, I'm trying to make sure I pour everything I got me into you. And I'm feeling guilty, because there's no |
| 663 | 02:02:56,790 --> 02:02:59,790 | way I can humanly respond to all of them. |
| 664 | 02:03:01,620 --> 02:03:10,770 | And then also on top of it, focus on the marketplace in front of me. It was honestly, I thought I'm gonna be able to do it, I really thought I was gonna be |
| 665 | 02:03:10,770 --> 02:03:20,580 | able to do that. And I was like, What the fuck, I can't focus on anything. Like I literally felt like I had 1000 voices screaming in my ear. I couldn't hear any |
| 666 | 02:03:20,580 --> 02:03:31,500 | of them. It was only them just zipping by like a, like a chat window when I was doing to him was that program, go to webinar, go to webinar 100 People now |
| 667 | 02:03:31,500 --> 02:03:39,360 | obviously, not all he was sending me messages at the same time, but a lot of them were. And they would repeat and say, Look, you're not to answer my |
| 668 | 02:03:39,360 --> 02:03:48,930 | question. I'm like, fuck, fuck, I wanted to be anywhere else. But that place at that time. Because I couldn't, I couldn't get up. I was in that very thing that |
| 669 | 02:03:48,930 --> 02:04:03,690 | it feels like when you're in a trade, and you can't, you can't do what you know you should do. You can't just kill it. So you need to have a process of making |
| 670 | 02:04:03,690 --> 02:04:15,690 | sure that you guard your mind. Because this is hard shit. Because you are trying to ignore the inevitable, temporary failures that this business is going to |
| 671 | 02:04:15,690 --> 02:04:23,670 | present to you and everybody in it. You're gonna lose, you're gonna lose money, you're gonna get stopped out, you're going to take a trade and never gets to any |
| 672 | 02:04:23,670 --> 02:04:31,560 | profitability. It's gonna rip right into your stock. You're gonna press buy when you really wanted to go in and go short. That's a stupid error, but you're going |
| 673 | 02:04:31,560 --> 02:04:45,270 | to do it. You're going to do it, you're going to go into a trade and forget that calendar has something getting ready to come on hoping CPI and soon as you get |
| 674 | 02:04:45,270 --> 02:04:55,020 | it and you realize you did it wrong, get the fuck out. Just don't even worry about arguing about this get out. You have to have a process and the process is |
| 675 | 02:04:55,050 --> 02:05:07,980 | first rule this in industry, preserve capital When in doubt, get the fuck out. You cannot, you cannot fuck around and stay in this market in a position that |
| 676 | 02:05:07,980 --> 02:05:17,670 | you don't even understand why you're in while you're holding on to something that you know is highly unlikely to pan out profitable and more likely to go to |
| 677 | 02:05:17,670 --> 02:05:25,320 | your stuff, you're convinced of it, because that's all you could see happening, you're worrying about that tick. That's next to come after the next adjustment |
| 678 | 02:05:25,320 --> 02:05:32,430 | in market price. And you're watching it go closer and closer to your stop just four more points, and it'll be stopping you just three and a half more points, |
| 679 | 02:05:32,430 --> 02:05:39,150 | it's gonna stop Yeah, you're not thinking about is it showing me signs that it wants to continue in the direction I traded in, you're not looking at that. So |
| 680 | 02:05:39,150 --> 02:05:48,090 | as soon as you abandon your trade idea, and you start taking your attention to worrying about the stop loss getting hit, that is the surest sign that you need |
| 681 | 02:05:48,180 --> 02:06:05,190 | to kill the trade. That is the easiest, absolute no brainer, it wins every time. Get out. Because if you give yourself enough time, let me train you. Over this |
| 682 | 02:06:05,190 --> 02:06:14,850 | year, I'm going to teach you exactly how to identify that bullshit. And you need to be able to say, I'm not thinking about it, it's just the way it is. It's a |
| 683 | 02:06:14,850 --> 02:06:22,410 | process. As soon as I feel that shit, I'm done, I'm out. No more risk. I'm not going to trade the rest of that day, I'll come back tomorrow, see how I feel |
| 684 | 02:06:22,410 --> 02:06:32,040 | about it. And you're going to feel good, that you killed that pain, that you need to understand the death seizing control over yourself, your reckless self, |
| 685 | 02:06:33,390 --> 02:06:43,980 | that part of you that will fuck you up in this marketplace. That person needs to be held down, curbs stopped sometimes, because you're going to put yourself in |
| 686 | 02:06:43,980 --> 02:06:57,210 | harm's way if you don't. And when you get to the point where you see this as a strength, you will not feel like you're abusing yourself or denying yourself |
| 687 | 02:06:57,210 --> 02:07:11,580 | success, you're giving yourself the chance that it must, it must be done for you to have a real chance at being successful in this. There's no safety net, none. |
| 688 | 02:07:12,960 --> 02:07:26,640 | In that instance, you are losing all control. And you're falling into failure, you're falling into it. You could stop at any time, grab a hold of something, |
| 689 | 02:07:27,450 --> 02:07:35,820 | and print money and preserve yourself from falling into a full stop and regret. Because you get what you will get stopped out. And when it does, you're going to |
| 690 | 02:07:35,820 --> 02:07:43,950 | think to yourself I knew was going to stop me out and I could have kept myself from losing. I should have just killed it. And you're gonna do that for hours |
| 691 | 02:07:43,950 --> 02:07:54,780 | and days and weeks beating yourself up. Let me explain something to you. This is what you don't understand. These fucking clowns out there that make up shit |
| 692 | 02:07:54,810 --> 02:08:04,980 | Photoshop and mean and bullshit and make all kinds of lies about me. None of these people could ever say anything to hurt me. None of them. I am the hardest |
| 693 | 02:08:05,010 --> 02:08:19,860 | critic of myself, and any you fuckers could ever be. You can't do shit to me. If I don't do something, the smallest scale of what I think I should have done. I |
| 694 | 02:08:19,860 --> 02:08:31,350 | beat myself up about that I can't let those things go because I have obsessive compulsive disorder. It's not something that is fixed. You can't fix that. You |
| 695 | 02:08:31,350 --> 02:08:41,700 | have to cope with it. You live with it. But I'm not worried about these fucking clowns. And you're going to have these problems creep into your trading, and |
| 696 | 02:08:41,700 --> 02:08:54,270 | you're going to have to be met with Can you deal with that? Can you deal with these uncomfortable feelings of you can't control this. The outcome is outside |
| 697 | 02:08:54,270 --> 02:09:02,640 | of your control the the market is going to take something from you. Are you going to wrestle with that? Are you going to compensate and put a blind eye to |
| 698 | 02:09:02,640 --> 02:09:11,550 | it say oh, you know, I don't see it there. And then fault me or someone else, your spouse your job. Somebody else was the reason why you didn't do what the |
| 699 | 02:09:11,550 --> 02:09:24,330 | fuck you're supposed to do. Because now you have no excuse. Now you know what you're supposed to do? It's easy. It's easy, just let go of it. There's plenty |
| 700 | 02:09:24,330 --> 02:09:33,360 | of trades out there. And you're gonna find by training with me this year, by focusing in on the low resistance liquidity runs. Those are the trades that I'm |
| 701 | 02:09:33,360 --> 02:09:42,000 | training your eye to see them. They're the little unicorn traits that just hear what look at the unicorn. Hey, not in fucking scary about a unicorn you want to |
| 702 | 02:09:42,000 --> 02:09:49,530 | go there. You want to pet it. You want to be friends with it. It's it's inviting. That's how a low resistance decoder run signature is. It's it's nice |
| 703 | 02:09:49,890 --> 02:09:57,390 | to just very, very pleasant to deal with in the marketplace. They're real quick to respond to you. And they get almost instant gratification. And that to me is |
| 704 | 02:09:57,390 --> 02:10:07,860 | what every trader wants contract. Is that with the fucking donkey from Shrek? Okay, this little fucker, he's cute, but he's a pain in the ass. That's exactly |
| 705 | 02:10:07,860 --> 02:10:19,110 | what a high resistance liquidy Ron signature is. Like, listen, you don't want to be rude, okay? You tolerate your cousin, you don't want to see him, okay? That |
| 706 | 02:10:19,110 --> 02:10:28,110 | they, they always find their way it functions it but you're trying to find your way out of the conversations and always being outside their reach. You want to |
| 707 | 02:10:28,110 --> 02:10:37,560 | treat the high resistance liquidity on signature trades like that. And as soon as you identify that you fell into a conversation with that cousin, like the |
| 708 | 02:10:37,560 --> 02:10:44,160 | high resistance coherent signature, and it becomes uncomfortable, and you're looking for any opportunity for him to shut the fuck up. So you can get the |
| 709 | 02:10:44,160 --> 02:10:53,580 | conversations Oh, yeah, you're texting your friend, call me right now. So that way I can pretend I gotta get out of here, you're looking for any off ramp. |
| 710 | 02:10:54,570 --> 02:11:01,200 | That's what you're doing with these types of trades, you're looking for any reason to bail on it. As soon as you recognize you're in a high resistance |
| 711 | 02:11:01,200 --> 02:11:10,350 | liquidity signature. Listen, go back and look at the commentary. In that video. I knew what I was doing. I knew I had been labeled. It's high resistance |
| 712 | 02:11:10,350 --> 02:11:20,580 | liquidity runs. I'm showing you by contrast, look at the other trades that I show when they're low resistance to just real quick sudden, phone delivered, |
| 713 | 02:11:21,090 --> 02:11:32,250 | secure to bag. Easy, over and over and over again. Easy, easy, easy. And then what the hell's going on? I'm trying to get somewhere. And I feel like I'm on a |
| 714 | 02:11:32,250 --> 02:11:41,910 | stair climber in this in the same place, but doing 1000s repetitions and it's a tent climb to my target, that that's exactly what a high resistance liquid run |
| 715 | 02:11:41,910 --> 02:11:51,000 | signature is this, the markets moving, you can make money, you can make five points. But when you're trying to hold on for these big long 20 handles 30 |
| 716 | 02:11:51,000 --> 02:12:00,240 | handle moves, they can wear you out. If you're in there trying to expect real quick, sudden, big blast off moves in ain't gonna happen. |
| 717 | 02:12:02,190 --> 02:12:09,540 | So you have to change your outlook on what you're anticipating in price delivery. And you'll appreciate that more when we're doing the live streams, |
| 718 | 02:12:09,540 --> 02:12:18,990 | because I'm going to explain where it should be fast to where it should be like today. And then over time, you'll start to see the characteristics Oh, yeah, |
| 719 | 02:12:18,990 --> 02:12:28,080 | this, I can see it. I can't articulate it in words, like there's no way. And as I said, like, there's certain things in my books, there's just no way, there's |
| 720 | 02:12:28,080 --> 02:12:36,300 | no way that it could be communicated. Unless you just see me talk about it live. When you see me outline it. And this is what the candle is likely to do. You |
| 721 | 02:12:36,300 --> 02:12:42,660 | don't want to see it do this, you know, obviously, I do the best I can with a one minute chart with annotating it. But it's still not the same as what you'll |
| 722 | 02:12:42,660 --> 02:12:54,150 | see in February, like, you'll feel it, you'll feel exactly like you're dialed in, you're connected with price. And in times where I'm off, and I'm out of sync |
| 723 | 02:12:54,150 --> 02:13:02,220 | and I get it wrong. You'll see how it gives me indications that okay, this is not what I should be looking for. Either I moved to Thailand and wait for more |
| 724 | 02:13:02,220 --> 02:13:11,730 | information or maybe not all the time, maybe reversing good other action. And I'll talk about what makes it feasible for me to want to reverse and go against |
| 725 | 02:13:11,730 --> 02:13:22,440 | my initial expectation, what changes my mind about that. So whatever happens that price does with us, when we're doing our live sessions, you're going to |
| 726 | 02:13:22,440 --> 02:13:31,920 | understand more about yourself, because you will see looking at the charts. And when I say what I'm saying about the chart at the time, you're going to have a |
| 727 | 02:13:31,920 --> 02:13:39,630 | immediate response internally. I don't see that or I think it's going to go either way. And then some of you will be wrestling with me, you think it's going |
| 728 | 02:13:39,630 --> 02:13:51,090 | to go this way. Or you're going to go that way. And it might be amusing to see when you might be right. And I get it wrong. But most of the time, you're going |
| 729 | 02:13:51,090 --> 02:14:01,620 | to be wrong. And you're gonna need to learn from that. And understand that. Are you the type of person like my uncle was? He's a contrarian, and I tried to tell |
| 730 | 02:14:01,620 --> 02:14:17,520 | him all the time. I have students Troy, you know who you are. Okay. 2016 young man used to play poker. And most of everything I would say in my commentaries. |
| 731 | 02:14:18,540 --> 02:14:27,630 | This guy would fade it. But he would fade and I beat me up Troy. Nobody knows your last name. Okay, but you know who I'm talking to. And then he would send me |
| 732 | 02:14:27,630 --> 02:14:35,250 | emails me, I'm frustrated. I can't get the work. And then we would go through like, what are you doing? And he's fading me. So I tell him, I said, Listen, |
| 733 | 02:14:35,490 --> 02:14:44,610 | you're fading my analysis, doing the opposite of it. And then you're complaining to me about why it ain't panning out? Why you can't make it work. Like what the |
| 734 | 02:14:44,610 --> 02:14:56,220 | hell. It was so frustrating for me as his teacher to try to, like I tried to find all kinds of ways to bridge it to him and not hurt his feelings and be |
| 735 | 02:14:56,220 --> 02:15:09,060 | encouraging at the same time. But finally, I said you know what? You're revealing to me as a teacher, that your strength is being the contrarian trader. |
| 736 | 02:15:10,800 --> 02:15:24,750 | So instead of me trying to change him and push him into a specific approach, he's better suited to look for opportunities to be contract, not so much a |
| 737 | 02:15:24,750 --> 02:15:36,510 | country and have me. But that's his approach to trading. So if, for instance, like a turtle, skinning a turtle suit, trade, something that have a false break |
| 738 | 02:15:36,510 --> 02:15:52,140 | above relative equal highs, I believe that that would be a model that would fit his personality and his issues with being taught. Under me, I can see how that |
| 739 | 02:15:52,140 --> 02:16:04,950 | could be turned into an advantageous strength. Were as his his ability to not follow my instructions and go with the bias outlined. One could argue, Hey, you |
| 740 | 02:16:04,950 --> 02:16:17,370 | are being a unruly student. When dealing with them for weeks and months, and then seeing it constantly materialize, it was better for him to dis identify |
| 741 | 02:16:17,490 --> 02:16:26,670 | patterns that fit the criteria that is contrary. And so this is what I'm trying to talk about most of the time in these discussions in the videos and in these |
| 742 | 02:16:26,670 --> 02:16:37,170 | presentations. Because you don't know what's gonna materialize in you, once you start getting into this. Listen to the videos and watching videos and watching |
| 743 | 02:16:37,170 --> 02:16:48,720 | what I do on the charts. Some of you, unfortunately, attribute that as you're doing something. You're doing nothing. You're watching Netflix ICT series, okay? |
| 744 | 02:16:49,080 --> 02:16:57,060 | And the series is ending this year. So you want to have an interactive experience. You want to be pushing the boundaries of your comfort zone, and |
| 745 | 02:16:57,060 --> 02:17:06,750 | deferring all your weekend warrior stuff, really pour yourself into this. Everything that you're looking for, to get you on the right foot. Learning how |
| 746 | 02:17:06,750 --> 02:17:17,940 | to do this real time, find the setups that make the most sense for you. Some of you might not be able to do the 2022 model. It doesn't make sense to you like |
| 747 | 02:17:17,970 --> 02:17:27,240 | you want something contrarian. Okay, well, instead of watching the buyside liquidity get purged and then wait for a shift in market structure. You're |
| 748 | 02:17:27,240 --> 02:17:41,820 | waiting for that buyside liquidity pool to be purged. And that's your trade. Folks that are contrarian that are looking for the fake entry for breakouts. |
| 749 | 02:17:42,390 --> 02:17:53,370 | People that resist good logic, sound logic and bias. They are the ones that do the best with turtle soup. In my uncle, if he just would have fucking listened |
| 750 | 02:17:53,370 --> 02:18:06,360 | to me, but he was a country and a heart. True and true. He wouldn't he wouldn't do it. He won't submit himself to that because he felt that I'm his nephew. I'm |
| 751 | 02:18:06,360 --> 02:18:15,330 | younger than him. He introduced trading to me. He's my senior, and I shouldn't be able to teach him anything. He should be the one being looked up to and he |
| 752 | 02:18:15,330 --> 02:18:28,110 | wrestled with that. He wrestled with that. He pulled a fucking Vinny Okay. Vinnie is made a whole storyline of all kinds of bullshit that ain't true. To |
| 753 | 02:18:28,110 --> 02:18:41,880 | justify his discomfort. He can't find his own audience. He can't prove that he's profitable or consistent. He can't prove his concepts or his product is worth |
| 754 | 02:18:41,880 --> 02:18:55,830 | buying. I'm dealing with my uncle again. Just focus on the thing right now. Remove all the drama. Take all that bullshit out of there. If my uncle didn't |
| 755 | 02:18:55,830 --> 02:19:05,760 | that take all the drama about oh, your nephew taught you how to trade? Oh, who would your friends and co workers think about that? Who gives a shit? Who gives |
| 756 | 02:19:05,760 --> 02:19:17,520 | a shit who you talk or who taught you? Once you learn the skill set? Once you learn this, I can't take it back from you. Nobody can take it from you. You can |
| 757 | 02:19:17,520 --> 02:19:26,130 | carve out your own living the way to fuck you want to live it? Who cares? I just want to encourage you along the way to live a life that's going to help other |
| 758 | 02:19:26,130 --> 02:19:39,300 | people. Some of you interpret that as reteach my shit in your own mentorship. That's not what I said. If you do well help other people. That's it. Give them |
| 759 | 02:19:39,300 --> 02:19:50,100 | something they didn't ask for when they need it. Or if they need help, and you can do it. Help them. I get so many requests and I just had one of my students |
| 760 | 02:19:50,100 --> 02:20:01,050 | reach out to me, said listen, you know I'm on hard times. Can you help me out? I don't want to go back to working a job. That would be a blow to My ego or |
| 761 | 02:20:01,350 --> 02:20:10,170 | couldn't do it and he just needs a little push. And I replied to him, I said, Look, I honestly every single day, I get requests for people all around the |
| 762 | 02:20:10,170 --> 02:20:18,720 | world, hey, look, can you help me? I need help with this, can you? Can you fund me? Can you give me an account? I have money. But it's almost like that meme |
| 763 | 02:20:18,720 --> 02:20:27,690 | that's going around where they said, If Elon Musk, you know, gave everybody a billion dollars, he would still have money left over you, if you know what I'm |
| 764 | 02:20:27,690 --> 02:20:38,370 | talking about. Just look around, you'll see it. It's, I can't do that for everybody. I can't, but I'm doing something better than that. I'm telling you, |
| 765 | 02:20:38,760 --> 02:20:51,240 | how to get your own. without charging you. And I'm giving you it for free. And I'm proving it works. I'm showing you the logic I'm teaching you, and I'm giving |
| 766 | 02:20:51,240 --> 02:21:09,330 | you my whole year. I'm living with you all. via social media. I'm still talking to you. I want you to do better. That's all. I don't give a fuck if you buy my |
| 767 | 02:21:09,330 --> 02:21:22,080 | book. Or books. I don't care. You won't need them. If you put the work in this year, you won't need to buy my book. How's that a sales pitch for a book. That's |
| 768 | 02:21:22,080 --> 02:21:32,340 | the worst marketing campaign ever. I'm reading the book to solidify that this is my shit. And everybody else that's ever going to talk about it and has tried to |
| 769 | 02:21:32,340 --> 02:21:40,590 | talk about it in your books. rags of the book. Okay, it's nonsense. That's the only reason why I'm putting it in print. I don't give a fuck. That's the best |
| 770 | 02:21:40,590 --> 02:21:50,490 | seller. I don't care if nobody buys it. I don't care. I don't care. But this year, I care to see that you find success. |
| 771 | 02:21:51,630 --> 02:21:59,490 | It's going to be hard. It's going to be frustrating. Sometimes it's going to be even worse. If you have somebody in your life telling you you're wasting your |
| 772 | 02:21:59,490 --> 02:22:09,480 | time. If you give your ear to people that are telling you constantly we have the only thing that works. ICT is a scam look around. Am I showing you scam? Am I |
| 773 | 02:22:09,480 --> 02:22:21,000 | showing you fraud? Am I showing you the goods I believe I am who's really got your best interests at heart. Ask that of any mentor right now. Any of them but |
| 774 | 02:22:21,000 --> 02:22:37,500 | just make sure you keep your fucking payments up to date. Common sense folks? Common sense. It's all ours. Show up every day. Expect to have to work. And I'm |
| 775 | 02:22:37,500 --> 02:22:49,830 | reminding you When you get in here even when you do it right. And you're in a trade is profitable. You You're gonna encounter that time where now it's hard. |
| 776 | 02:22:50,610 --> 02:23:06,570 | Do I hold the trade? What do I do? I've already rolled my stop. In that moment is a weird internal argument. It's a weird it's very stressful. In the sooner |
| 777 | 02:23:06,570 --> 02:23:17,070 | you identify it in, the sooner that you adopt the mindset of I'm not dealing with it. And it's not weakness, its strength. I'm wasting no more time on this. |
| 778 | 02:23:17,700 --> 02:23:26,280 | I'm cancelling it euthanizing the whole trade. It can't take any more money from you. As soon as you kill the trade, you cannot have any more fees and |
| 779 | 02:23:26,310 --> 02:23:37,050 | commissions paid on it. You have no more fear about it panning out to a loss full stop out. You've banked more money than you would have if it goes to your |
| 780 | 02:23:37,050 --> 02:23:52,290 | stock how's that a bad transaction? Please make me understand that that's something that's not worth doing. convinced me that that's not sound logic. |
| 781 | 02:23:52,800 --> 02:24:02,820 | Because it is in the you're listening to people write books and talk about things on videos and shit. And they have never brought anything to the table to |
| 782 | 02:24:02,820 --> 02:24:14,460 | help you become better at this at all. And just like the trade that you know damn well you should be getting out of you're holding on to a loser. You're |
| 783 | 02:24:14,460 --> 02:24:27,150 | holding on to toxic people because drama is infectious. And drama and Kancil culture is a fire once it starts it spreads quick. And that's all these people |
| 784 | 02:24:27,150 --> 02:24:42,390 | want to see happen with me. And here I am peson on every fire they start bulletproof reckon bulletproof. fireproof. Fuck all y'all. Okay? You don't like |
| 785 | 02:24:42,390 --> 02:24:51,150 | me? I don't give a shit. I'm not here for you. I'm not here for you. I don't give a fuck if you're algo box or you're fucking KB trading loss. It makes you a |
| 786 | 02:24:51,150 --> 02:25:00,900 | lot of money or it doesn't make you a fucking Penny. You get what you get. You deserve what you fucking get. But listen, you ain't doing shit. To me, you're |
| 787 | 02:25:00,900 --> 02:25:13,140 | not slowing down and even started yet. And you're seeing the proof that I got shit that nobody's seen before. And I'm going to turn a lot of you into |
| 788 | 02:25:13,140 --> 02:25:22,500 | financial fucking savages this year, you're going to do shit that you've never even imagine before, you're going to make so much fucking decisions that have so |
| 789 | 02:25:22,500 --> 02:25:33,300 | much more emphasis on the outcome of your life, folks would have never given it to you mentorships and with anybody else would have never given it to you. I |
| 790 | 02:25:33,300 --> 02:25:50,280 | can't wait. I can't wait. I'm getting all my shit together and getting organized. And we're going to have school classes open on February 7. It would |
| 791 | 02:25:50,280 --> 02:26:07,050 | be foolish for you not to prepare yourself. It would be foolish for you not to commit 110% This year the entire trajectory of your life could change this year. |
| 792 | 02:26:08,460 --> 02:26:23,070 | And starting in 2024. You could be carving out an entirely different outcome for your whole family. Not just you, everybody after you, your children, their |
| 793 | 02:26:23,070 --> 02:26:24,450 | children, and so forth. |
| 794 | 02:26:29,850 --> 02:26:46,470 | What's gonna stop you? What's the thing? Who's the person that's going to say? Yep, this is enough for me to say I'm not going to do it. That's weakness. Not |
| 795 | 02:26:46,920 --> 02:26:57,240 | this isn't making me money. This is too much stress. I want to close this losing trade, or potential losing trade. That's a strength. That's not a weakness. Most |
| 796 | 02:26:57,240 --> 02:27:08,250 | of your opinions about things in this industry are upside down. You think everybody gets rich the first month they go out and start trading? You think |
| 797 | 02:27:08,250 --> 02:27:21,780 | everybody has no losing trades? No drawdown, nobody's ever blown out an account that's profitable and consistent. Now. There's no way somebody that blew out |
| 798 | 02:27:21,780 --> 02:27:32,460 | accounts could find consistency and profitability. Now, when everybody that ever gets there, has done that. And the ones that have done it, they don't hide it. |
| 799 | 02:27:34,110 --> 02:27:47,160 | It's their badge. That's their, that's their war scars. I endured a whole shit ton of stuff that get to the point where I know what I know now. And you don't |
| 800 | 02:27:47,160 --> 02:28:00,210 | need to go through all of that. You don't need to do that. And I'm trying my best. I wish I was better at teaching. I wish I was I pray all the time that you |
| 801 | 02:28:00,210 --> 02:28:13,320 | know, is unrefined as I am. As a man I am. I'm falling short many times as a teacher, and sometimes, you know, I feel like I wish I could have done it |
| 802 | 02:28:13,320 --> 02:28:23,700 | better. But I don't I don't know how to do it better. Like I don't know how I could make it any better than undoing it. I just know the things that I do work. |
| 803 | 02:28:24,990 --> 02:28:33,000 | And I've also found that the people that are lazy that don't do the things I tell them to do. They never get here. And they can call me a fraud. They can |
| 804 | 02:28:33,000 --> 02:28:40,170 | call me a scammer. They can call me whatever fuck they want to call me. I know that they're in pain, because they want it to work for them. And they want it to |
| 805 | 02:28:40,170 --> 02:28:48,570 | be easy. But I've already told every one of you. And every time I've ever opened up a mentorship I've always said it's going to take a lot of work. It's not |
| 806 | 02:28:48,570 --> 02:28:55,800 | going to be easy. You're gonna have to put a lot of effort into this and they all come in. Yeah, we want to do it. We're ready. I'm gonna do everything. The |
| 807 | 02:28:55,800 --> 02:29:12,540 | first month. I gotta do what? Fuck this no matter here. Yep. You're gonna find out who you really are this year and you got to press into it. When it's |
| 808 | 02:29:12,540 --> 02:29:25,140 | uncomfortable, press into that. That's what trading is going to feel like. You do not know if your trade is going to be stopped out. That uncertainty you have |
| 809 | 02:29:25,140 --> 02:29:44,160 | to press into that as a trader the fact that you're still listening to me you got what it takes. You have exactly what it takes everybody taps out says oh, |
| 810 | 02:29:44,160 --> 02:29:51,720 | this is really yours are too long. You're droning on and get to the point I delete your shit. You're a waste of my fucking time. I'm not gonna read your |
| 811 | 02:29:51,720 --> 02:30:02,790 | tweet. And I don't want to read your shit on my channel anymore. I deleted your lazy fuck off I don't need to tell you to your face. I don't make a show of it. |
| 812 | 02:30:03,180 --> 02:30:12,120 | But that's what I do with people like you. If you're toxic or delete you, unless you have any for saying me, you're not blocked this is I'm not going to block |
| 813 | 02:30:12,120 --> 02:30:22,170 | you. You're going to be left open so that way when you get on a leaderboard, should you ever do it? I'll see it. Nobody will have to read tweet it to me. I'm |
| 814 | 02:30:22,170 --> 02:30:38,040 | waiting. I am fucking weeping with bells on. Because I can't walk your ass. Come on, come on. And I can do that and mentor. I'm not distracted. It's still |
| 815 | 02:30:38,040 --> 02:30:55,170 | trading folks. The things that I'm doing right now are wiping their ass now. I don't need to do half of what I'm doing. 20% a day. 10% a day. 15% a day. I |
| 816 | 02:30:55,170 --> 02:31:10,170 | mean, losing trades. Are you saying? Do the math on that? I don't need to calculate your baby. I know how this fucking ends. Me winning. You got a mentor? |
| 817 | 02:31:10,170 --> 02:31:19,890 | That's absolutely fucking jacked up this year. I am. I can't wait. I can't fucking wait until February 7. Why don't you just start sooner ICT? Honestly, |
| 818 | 02:31:19,890 --> 02:31:32,250 | I've contemplated that. Today I almost did it. I was like, Okay, let me let me just sit down and relax. My protocol has been for years. first Tuesday of |
| 819 | 02:31:32,250 --> 02:31:45,390 | February. That's when I, that's when I pull the trigger. And that's when I start taking it for what it is not staying like now, usually I wouldn't be doing |
| 820 | 02:31:45,390 --> 02:31:56,310 | anything in the marketplace at all. And before I started mentoring, the community that started with the 2016 group, I wouldn't be looking at charts. And |
| 821 | 02:31:56,310 --> 02:32:07,200 | that's why I required the first Tuesday of February, allowing January we can be mid, sometimes it's a sloppy month, where it can be just really just not doing a |
| 822 | 02:32:07,200 --> 02:32:17,070 | whole lot. I mean, we're seeing movement, but it's still choppy. It's still shitty markets. And don't let my analysis on Tuesday night with that biggest |
| 823 | 02:32:17,100 --> 02:32:26,520 | drop going down to perfect new delivery a price convince you that January is a good month all the time it's not. And then what usually what happened before I |
| 824 | 02:32:26,520 --> 02:32:36,180 | started mentoring is it would take me about a week and a half for me to get acclimated to what the market was doing. So even though I would be in there, my |
| 825 | 02:32:36,180 --> 02:32:45,780 | trades will be very, very small, one contract, maybe two, and just work in slowly to get a feel for what the markets doing. Because I would not be looking |
| 826 | 02:32:45,780 --> 02:32:56,040 | at it from the second week of November, all the way up to the first Tuesday of February. But because I was mentoring, I always stayed looking at the charts, |
| 827 | 02:32:56,040 --> 02:33:03,450 | even though I wasn't actively teaching with the group, because I would take a couple of weeks off, you know, in December going into February, it would be like |
| 828 | 02:33:03,450 --> 02:33:11,280 | commentary, because I needed to make sure I stay plugged in that way. And that's all I've been dealing with you all to someone you're like, Dude, why are you |
| 829 | 02:33:11,280 --> 02:33:19,320 | sending all these recordings need? Why aren't you doing this in mind, and keeping myself close to the marketplace. So that way when I go on February 7, |
| 830 | 02:33:19,980 --> 02:33:29,910 | I'm not rusty, just like a skill set like anything else, you have to use it for you gotta practice, like stretching out, you want to be able to do a split, |
| 831 | 02:33:29,910 --> 02:33:37,260 | right? You can't do a fucking split the first time you want to do a split, you got to grow into that it's painful. It takes time. And you got to sit through |
| 832 | 02:33:37,260 --> 02:33:48,810 | that painful stretch over months to get that. Well, if you step away from the charts, and you don't get a feel for the rhythm, the order flow that's going on |
| 833 | 02:33:48,990 --> 02:33:56,040 | the climate, the sentiment that's in the marketplace all there's all kinds of shit going on in the world right now. And that's what makes trading very, very |
| 834 | 02:33:56,040 --> 02:34:07,020 | difficult right now. All the biggest talkers are all falling on their face right now too. It's hard. I didn't say it was easy. I'm having a hard time getting a |
| 835 | 02:34:07,020 --> 02:34:20,280 | read on some of this shit. That's the way it is. This is the hardest the markets ever been in my 30 years. So if you feel like you're having a hard time getting |
| 836 | 02:34:20,280 --> 02:34:35,190 | your footing, think about this. And I'm gonna close it. You're learning to do the most difficult shit in the world. This skill set when you obtain it. And if |
| 837 | 02:34:35,190 --> 02:34:47,670 | you listen and you show up every day, you're going to you're going to and you're going to spend the rest of your life honing that skill, keeping it working |
| 838 | 02:34:47,670 --> 02:35:00,360 | towards improving yourself refining it and nobody can take it away from you. If your spouse leaves you, okay, that's unfortunate, but they can't take the split |
| 839 | 02:35:00,360 --> 02:35:12,300 | with you. You're gonna have this skill set for as long as you have your mental faculties. And you can change your whole financial landscape. And when you learn |
| 840 | 02:35:12,300 --> 02:35:26,340 | how to do this, in this environment, when it gets easy, and it will win, I don't know. But there's going to be easy days and easy months and easy conditions to |
| 841 | 02:35:26,340 --> 02:35:40,920 | trade in. And you're gonna feel like a frickin monster. But you can do anything, nothing wrong in those environments. You should be commending yourself that |
| 842 | 02:35:40,920 --> 02:35:51,480 | you're even willing to do this. In the hardest time it's ever been for trading. We mean, it's hard, is what you're gonna see these jokers that are gonna be |
| 843 | 02:35:51,480 --> 02:36:03,390 | tweeting to me, this guy thought about trading ZZ I made this day. Okay, show me your last six months. It's just ridiculous. Take things in the right proper |
| 844 | 02:36:03,390 --> 02:36:17,280 | context, I'm saying that in my 30 years of experience in these markets, I have never seen a condition that has been so choppy. So just an organized price |
| 845 | 02:36:17,280 --> 02:36:26,460 | action, just real shitty. And that is not the algorithm being changed. It's not them rewriting the algorithm. And none of that is a factor here. It's just the |
| 846 | 02:36:26,460 --> 02:36:30,030 | fact that we have a lot of stuff going on. |
| 847 | 02:36:31,380 --> 02:36:44,670 | All the time. It's constant, geopolitical things, wars breaking out over here. This government's being overtaken by that one, you know, global unification. |
| 848 | 02:36:47,790 --> 02:37:08,190 | Food becoming scarce illnesses. All that stuff is weighing heavily on everyone. Large funding firms not like funding crunch for trading, but like institutions, |
| 849 | 02:37:09,150 --> 02:37:23,430 | big banks, they have a great respect for the level of risk right now. They're not out there rolling the dice. And because they're not participating, even |
| 850 | 02:37:23,430 --> 02:37:33,870 | though the algorithms pricing higher and lower, they're not Buyten yet. And that's why the markets doing what it's doing. They they're going to have to |
| 851 | 02:37:33,870 --> 02:37:50,850 | create a significant displacement in price to get sentiment engaged. We're still early in the year. These people that run these funds and hedge funds and put |
| 852 | 02:37:50,850 --> 02:38:01,770 | billions at work, they're not chomping at the bit to just plunk down any old bet. They want to have something really meaningful to acquire and absorb the |
| 853 | 02:38:01,770 --> 02:38:12,060 | risk that's inherent to having a trade in this environment. Who's rushing to buy what stock right now think about that. What company out there is doing no wrong, |
| 854 | 02:38:12,480 --> 02:38:24,690 | and everybody should need to pour their money into it. UNIVAC knows, I don't know what currency in what country is the most trustworthy right now that you |
| 855 | 02:38:24,690 --> 02:38:39,570 | should be focusing on that currency and pouring your money into it. Good luck with that. When you look at it like that, it's quick and easy to understand why |
| 856 | 02:38:39,570 --> 02:38:49,170 | the markets are doing what they're doing. They're choppy for a reason because no one with big deep pockets are participating. It's just us right now, the little |
| 857 | 02:38:49,170 --> 02:39:00,660 | guppies moving around. So they don't need to move the market a lot for us. That's all the liquidity in or photos coming in. But when they create this next |
| 858 | 02:39:00,660 --> 02:39:11,220 | move, what move you'll know it is going to be a shift in market structure that's meaningful, you'll see it it will be obvious and that will get everybody |
| 859 | 02:39:11,220 --> 02:39:20,970 | thinking okay, we're off to the races now they start allocating funds to positions. Hedge funds start pouring in money in that is what we're waiting for |
| 860 | 02:39:20,970 --> 02:39:31,500 | because they are going to be cannibalized. The markets are not going after retail Rick retail Rick just puts himself underneath the tires of the truck. |
| 861 | 02:39:33,690 --> 02:39:52,200 | They're going after the deep pockets that's out there in the marketplace. Not every hedge fund is profitable. Some of them are just lunch. So a couple a lot |
| 862 | 02:39:52,200 --> 02:40:00,240 | of stuff. Probably some things you probably didn't want to listen to. I don't care. I'm not here for you. I'm here for the people that just want to learn See, |
| 863 | 02:40:00,570 --> 02:40:13,320 | and understand that this is difficult. They're going to understand about many things that you aren't gonna learn about in books, systems and approaches and |
| 864 | 02:40:13,320 --> 02:40:24,030 | things. That's not. That's not it. It's the you, the person that's listening, the person that's got to look in that mirror tonight, tomorrow, you're going to |
| 865 | 02:40:24,030 --> 02:40:35,280 | reflect on the things that you're learning. And how's it going to impact your life? Are you going to feel like this is too much, don't even bother with it. I |
| 866 | 02:40:35,280 --> 02:40:45,210 | should have been easier. It's not. I'm not a good teacher. So there's your perfect excuse good run with that one. If you don't have the wherewithal to |
| 867 | 02:40:45,210 --> 02:40:58,200 | endure it, then this isn't for you. It's not for you. Not because I'm not willing, and not because it's something that you couldn't learn. It's a decision |
| 868 | 02:40:58,200 --> 02:41:06,750 | that you've made. And once you settle on that decision, you know, it's best for you not to participate that much. Why waste your time, don't waste my time, I |
| 869 | 02:41:06,750 --> 02:41:20,070 | won't waste yours. But it's going to be requiring a lot of work. You're going to get frustrated many times, you're going to feel like you want to quit. Don't let |
| 870 | 02:41:20,070 --> 02:41:34,560 | me remind you. You're not swiping the credit card here. You're not sending me PayPal. You're not giving me money. You don't even have to thank me. Okay, keep |
| 871 | 02:41:34,560 --> 02:41:52,080 | your focus on you this year. There's no reason for you to feel like you should want to quit. I get no ad revenue on this. And I'm still talking to you. I want |
| 872 | 02:41:52,080 --> 02:42:01,770 | to see you do well. But you're gonna have to listen. If you don't listen. The lessons are gonna be much more painful than they need to be. So I want you to |
| 873 | 02:42:01,770 --> 02:42:13,260 | enjoy your weekend. Study. Enjoy your time with your family as well. So make sure you keep in time for them. Keep your business your business. Don't talk |
| 874 | 02:42:13,260 --> 02:42:22,680 | about what you're doing, at work or at school around your friends. If they're not already involved in this, don't invite them. You don't need to be a sales |
| 875 | 02:42:22,680 --> 02:42:34,680 | rep for ICT with your friends and family and co workers. Okay. Keep the focus on you. build yourself up. stay busy in your study. And I will be back out of the |
| 876 | 02:42:34,680 --> 02:42:40,290 | game with you on Monday. I'll talk to you then. Be safe |