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007-ict-tw-spaces-20220705-Post-Holiday-Trade-Routine-original

Last modified by Drunk Monkey on 2022-12-29 08:26

Outline

00:49 - How do you deal with the holiday volume?

03:03 - What does it mean when the market is risk off?

05:06 - Is the dollar at risk off or risk on?

06:48 - The morning opening on equities -.

08:13 - Do you think Amazon cares about everyone else’s opinion about how they do business?

10:52 - Is the price action clean? Is there opportunity?

12:24 - What’s going on with the Dollar.

14:28 - Your opportunity doesn’t necessarily mean it’s my opportunity, and vice versa.

16:40 - How many different timeframes can you do?

Transcription

 

1 00:00:49,560 --> 00:01:01,110 ICT: Bailey's at my feets trying to get my attention. So you're probably hearing her in the background. Have you ever I had a nice fourth July holiday here in
2 00:01:01,110 --> 00:01:14,490 the States. Nice weekend for those across the pond and have sore. So I'm gonna talk a little bit about post-holiday trade routines, I get a lot of questions as
3 00:01:14,490 --> 00:01:29,010 to how do I treat the market? I come back to analysis, how do I deal with the holiday volume that comes in or out of the marketplace? And obviously, most of
4 00:01:29,010 --> 00:01:40,680 my audience may or may not be I don't know that the demographics home such but you may not be American, you may not celebrate the Fourth of July. But any
5 00:01:40,680 --> 00:01:56,430 holiday that causes like a bank holiday, specifically with the dollar I like to wait and see how the market digests the break. Okay, or the the lower volume
6 00:01:56,460 --> 00:02:09,270 that comes into the market just ahead of the holiday. Or if there's a abbreviated trading session. I don't really look at that as noteworthy or
7 00:02:10,020 --> 00:02:24,210 pressing in terms of the analysis. So this morning, what I do is I go through and look at charts. I see what did we do last week? How did we close last week?
8 00:02:25,710 --> 00:02:36,090 Now look at any kind of headlines that came out over the weekend. Was there anything geopolitical, was there anything that would have been unexpected? You
9 00:02:36,090 --> 00:02:48,930 know, war related that type of thing, terrorist attacks, ICT opening on our mentorship front for funds and payments, which I'm not conspiracies, though the
10 00:02:49,770 --> 00:03:01,380 looking for a rhyme or reason as to why the market should do a specific thing. And obviously, we know that the dollar index had a nice big run up overnight.
11 00:03:02,520 --> 00:03:16,530 And we've been bullish on dollar that means it is risk off. So risk off means that other asset classes of the markets are going to have pressure placed on
12 00:03:16,530 --> 00:03:30,090 them not selling pressure, but pressure in the sense that sentiment will evaporate for bullishness Case in point Euro dollar, case in point British Pound
13 00:03:30,090 --> 00:03:45,210 versus US dollar. And if we see a market that kind of feeds that underlying tone, and what does that mean? Well consider stock index futures. Now the market
14 00:03:45,210 --> 00:03:56,580 has traded up, we rallied after an SMT divergence at the lows and compared the NASDAQ and E Mini s&p. You'll see that initial drops lower. We had a failure to
15 00:03:56,580 --> 00:04:00,600 go lower in NASDAQ. That is my s&p divergence. So
16 00:04:02,580 --> 00:04:10,140 when I was asked this morning, if I was going to be trading, my interest was predominantly in the pm session. But I'm always watching to see what is likely
17 00:04:10,140 --> 00:04:20,160 to occur. Does the morning session give me reasons to justify why I want to stay on the sidelines until pm session or this creates some kind of specialty
18 00:04:20,160 --> 00:04:30,120 conditions, some kind of circumstance or setup that would otherwise trip other traders up. Even the retail traders, the street money, what are they going to be
19 00:04:30,120 --> 00:04:37,890 expecting? What are they looking for? And I kind of weigh that out with my expectations on what I believe the market's going to try to do. And that doesn't
20 00:04:37,890 --> 00:04:47,940 mean I'm always right. Obviously, you've seen a few times where I've been wrong. But there are times where if I'm sitting on the sidelines, if I'm waiting for a
21 00:04:47,940 --> 00:04:58,710 particular condition to occur, or form in the afternoon, you're probably asking well, what is it you're trying to avoid them from for what was the initial
22 00:04:59,130 --> 00:05:09,480 apprehension What was the cause? For me to not want to be so interested in the morning? Initially? Well, it's because we had that big run up in dollar. And
23 00:05:10,410 --> 00:05:18,450 that is a risk off scenario. So again, to folks that have answered incorrectly when I asked on Twitter, if the dollar is going higher like that is at risk on
24 00:05:18,450 --> 00:05:33,480 risk off is risk off. That means they're not willing to trade in foreign assets. So they run to flight to quality. I'm not going to defend the dollar, in terms
25 00:05:33,480 --> 00:05:43,020 of being quality. Okay, but it's considered a safe havens. And I'm not going to try to defend that stance either. But that's commonly referred to as the flight
26 00:05:43,020 --> 00:05:55,140 to quality or safe haven. So if there's uncertainty if there is no interest in taking on risk, and that would be in the form of buying Euro, buying pound,
27 00:05:55,320 --> 00:06:06,510 buying equities, that type of thing that is being risk on. So you're willing to assume that risk. And when that occurs, that's when you'll see the dollar tend
28 00:06:06,510 --> 00:06:16,680 to trade lower, or it could be held in consolidation, while other asset classes rally. That's still a risk on scenario is not as strong as when we see dollar
29 00:06:16,680 --> 00:06:25,650 going lower and foreign currencies and equities going higher, that's definitely risk going. That's a strong risk on environment. But if we have in the cation
30 00:06:25,650 --> 00:06:37,920 that we're likely to go lower on a particular market, whether it be forex pair, or an index futures. If we see a very strong dollar, like it's performed
31 00:06:37,920 --> 00:06:53,970 overnight, and my private mentorship, high five, our objective, it's traded into our premium array. And the moment the morning opening on equities, if you look
32 00:06:53,970 --> 00:07:04,950 at what has transpired so far in NASDAQ and E Mini s&p, it started going lower, drifting a little bit lower. And but then it didn't quite get down at at 3740
33 00:07:04,950 --> 00:07:16,170 Did it got real close to it, and then it created an s&p divergence. And then once it starts to rally higher, that is the very thing I try to avoid in the
34 00:07:16,170 --> 00:07:21,840 morning sessions for that very reason. Because it can go against the grain a little bit.
35 00:07:23,100 --> 00:07:34,620 It can lead people astray. I've fallen victim to that stuff before. And I've learned this as a reason for me to have rules of engagement, things that would
36 00:07:34,920 --> 00:07:43,320 limit my engagement, or at least frame it in the context where I least I know what I'm doing and why I'm not doing something. And if you don't have those
37 00:07:43,320 --> 00:07:52,170 things built into your model, you really don't know what you're doing. Much like a stoploss. If you don't use a stop loss, you don't know what you're doing. I
38 00:07:52,170 --> 00:07:58,920 don't care if you're saying you're profitable. And you'd have a broker statement says, look at this, I've made XYZ percent in the last two weeks, three months,
39 00:07:58,920 --> 00:08:08,400 whatever, playing that game, will eventually burn you. So you have to have a stoploss, you have to have rules to know when you're not going to be doing
40 00:08:08,400 --> 00:08:17,220 something and it doesn't matter who agrees with it. It's your business you're running. Do you think Amazon cares with everybody else's opinion to how they do
41 00:08:17,220 --> 00:08:24,660 their thing. There's a lot of people that are very opinionated about how Amazon runs as a company, they don't pay their people enough, they don't do this, they
42 00:08:24,660 --> 00:08:32,400 don't pay enough to offshore, whatever. They're not concerned about it. So you shouldn't be concerned about anybody else, having their opinion about how you
43 00:08:32,400 --> 00:08:42,600 should be trading your business. Stay in your lane, let them worry about themselves. Because I can tell you this, I've discovered the majority of people
44 00:08:42,600 --> 00:08:52,830 on the internet to have a high opinion of other people, or low opinion about other people, they generally are freed up with a lot of time because they're not
45 00:08:52,830 --> 00:09:02,460 actually trading themselves. So if you see these talking heads out there, they're very opinionated about you or someone you're following. It kind of begs
46 00:09:02,460 --> 00:09:10,170 the question, if they're so interested in me or you or what you're doing, what are they doing in their own trading, they're not minding their own business,
47 00:09:10,170 --> 00:09:18,150 they're not minding their own craft, so that in my mind indicate that they have no idea what they're doing in their own funds. They're not making money, they're
48 00:09:18,150 --> 00:09:26,760 not counting their own stacks. So they're what you're they're trying to mind your business. So you have to have rules. So that way you stay in your own lane.
49 00:09:27,210 --> 00:09:34,020 And you don't worry about anybody else. You don't care about what I make. You don't care about what anybody else makes or loses. It's irrelevant. Because
50 00:09:34,020 --> 00:09:43,470 you're not going to spend my money. You're not going to feel the pain and suffering if I take a loss, so why bother with it? And don't invite other people
51 00:09:43,470 --> 00:09:49,980 to do that in your own trading either because they're not going to be sympathetic to you. They may appear on face value, believe me, they're down
52 00:09:50,370 --> 00:10:00,150 there loving the fact that you're suffering just like they are. Although yours might be a very momentary drawdown or a stop loss being hit and you lose in
53 00:10:00,150 --> 00:10:10,470 trade, the high opinionated people, they generally aren't profitable. And they're usually the ones that are very critical of other people, not just one
54 00:10:10,470 --> 00:10:23,880 person or one teacher or guru. But these ideas permeate this industry because 90% Plus failed to be profitable. So it's easy for them to look for an out, lead
55 00:10:23,880 --> 00:10:35,130 to discharge themselves. So, to prevent yourself from having all those pitfalls, where you feel like you got to do those types of things, start being critical of
56 00:10:35,130 --> 00:10:42,060 other people or yourself in your own journal, what you shouldn't do, you have to have rules, you have to have limitations, you have to have some kind of
57 00:10:42,060 --> 00:10:56,100 structure as to why and when you do or do not engage in price. Now, back to the discussion with the index futures. If you compare the NASDAQ with the E Mini
58 00:10:56,100 --> 00:11:06,540 s&p, as I mentioned, you can see that the NASDAQ failed to make lower lows as s&p did. And then we had a little bit of a lift. And then s&p rallied, NASDAQ
59 00:11:06,540 --> 00:11:16,710 rallied and created a short term premium. And the market traded above its short term highs cleared out by side liquidity. And we have since drift a little bit
60 00:11:16,710 --> 00:11:33,330 lower. Now. Did it go higher to a premium to go lower? Yes. Has it gone to 3740 yet? No. is there opportunity in here? Or was there? Yes? Is the price action
61 00:11:33,510 --> 00:11:44,940 clean? No. So contrast, what you're seeing in the index futures this morning versus other market days where we're looking for a particular level of draw on
62 00:11:44,940 --> 00:11:54,630 liquidity above or below. And the market just delivers a very nice little break and stretch, break and structure, and then returned back to a fair value gap.
63 00:11:55,260 --> 00:12:04,650 And then it runs off and chases to the liquidity pool that we're looking for. That's a clean market. That's a symmetrical market. We're not having that
64 00:12:04,650 --> 00:12:13,650 because we're coming off the heels of what a holiday. And we had a big overnight run in dollar. So what's actually happening is the markets being allowed to
65 00:12:13,650 --> 00:12:22,980 digest and develop market sentiment. That's what's occurring. Okay. So because that sentiment is evolving.
66 00:12:24,390 --> 00:12:33,780 Now, I'm not saying that the sentiment that dollar went bullish like it did last night, is the continuation of that very effect. In other words, I'm not
67 00:12:33,780 --> 00:12:43,110 suggesting this just because we had a big up day overnight in dollar, that means it's going to continue higher, because obviously it can be rejected today are
68 00:12:43,110 --> 00:12:52,770 going into tomorrow. What I'm saying is because of the holiday, because we came off of a weekend. Yes, we had abbreviated trading yesterday, but I don't look at
69 00:12:52,770 --> 00:13:03,270 that as again, noteworthy. I could care less what it did yesterday. I treat it like it didn't happen. So I'm looking at Friday's data. Not even concerned with
70 00:13:03,270 --> 00:13:16,200 what we did on an abbreviated session on fourth July. Now, some of you may be hissing, and say, what, what a noob? Well, you do what you want, okay, I'm gonna
71 00:13:16,200 --> 00:13:27,360 do what I believe serves me best, okay. And everybody's gonna have a different opinion about what's. And I'm not subscribing to other people to learn how to
72 00:13:27,360 --> 00:13:37,470 trade, I'm not looking to other people to get a better feel for what I should do as a trader, but to the audience members that come here or my YouTube channel,
73 00:13:37,470 --> 00:13:45,210 and they want to at least look into what it is that I do whether you want to subscribe to the ideas or not, I make that available to those that are inclining
74 00:13:45,210 --> 00:13:55,350 their ear to it. It doesn't mean you should, it just means that I'm answering the call for those individuals to ask, What do I do after holidays? How do I
75 00:13:55,350 --> 00:14:09,030 treat the market? The other reason why I'm posting I posted on Twitter that I'm more interested in the pm session this morning. Because we have non farm
76 00:14:09,030 --> 00:14:16,560 payrolls this Friday. And I know a lot of folks that have been trading for a while they see me make that remark or they hear me make that remark. And I'm
77 00:14:16,560 --> 00:14:24,720 like, Dude, why is he not wanting to trade Non Farm Payroll, picks opportunities, opportunity every single day. There's all the time. But your
78 00:14:24,720 --> 00:14:35,700 opportunity doesn't necessarily mean it's my opportunity. And vice versa, if my opportunity, maybe perf perfect for me, may not necessarily be the opportunity
79 00:14:35,700 --> 00:14:45,030 for you even as my student. So that's why it's important for you to bring your own individual unique personality into this because if you don't do that, if you
80 00:14:45,030 --> 00:14:52,590 fail to do that, you're going to be frustrated because you're trying to align yourself with the person you're trying to copy. And you don't know what I'm
81 00:14:52,590 --> 00:15:00,690 thinking. You don't know what concerns I have. You don't have the time constraints that keeps me from staying with a trade because Maybe I'm getting
82 00:15:00,690 --> 00:15:10,200 ready to go on vacation. Or maybe my wife said, you spent too much time in front of these charts. And you owe me some time. Or my kids say, hey, and this is what
83 00:15:10,200 --> 00:15:18,510 it's going to be like that we got things to do. For something else that's unexpected comes up. So it's important for you to have what it is you're trying
84 00:15:18,510 --> 00:15:27,930 to do. As a unique, individual, independent thinker, it's fine that you're learning from me or anyone else that's profitable and consistent has a sound
85 00:15:27,930 --> 00:15:38,370 logic. But you still have to, at some point, make it your own. And there's nothing inherently wrong about that. You're not trying to reinvent the wheel,
86 00:15:38,370 --> 00:15:45,270 you're not trying to repackage the person. Now, I don't view it as someone repackaging what I teach, I don't like it, when they rename things and try to
87 00:15:45,270 --> 00:15:57,780 sell it. That's obvious then, but for you to learn from me. And it's okay. He taught this, this, this, this, but he didn't put it in this order, or refer to
88 00:15:57,780 --> 00:16:09,480 it on this timeframe in this type of condition, and this economic climate with the calendar, but I see this repeating over and over and over again. So should I
89 00:16:09,480 --> 00:16:18,390 ignore that because he didn't mention it as my mentor or because I see something going on there. Should I log that and continuous in that to see if it's going to
90 00:16:18,390 --> 00:16:29,310 be something fruitful? If you do the latter, you're cheating yourself. Have your own individual model that brings in your own personal personality. And that's
91 00:16:29,310 --> 00:16:33,420 making it your own. I mentioned that a comment.
92 00:16:34,710 --> 00:16:43,530 I think the last stream or Twitter live thing, whatever you call it here, spaces. I made a remark that I could make a model every single week the rest of
93 00:16:43,530 --> 00:16:49,620 my life and it'd be different. And that wasn't an exaggeration. I got some I sent me emails. Why did you say something like that? You know, that's not
94 00:16:49,620 --> 00:16:59,850 possible. It is possible. How many timeframes are there? It's the all kinds of different timeframes. You can do three minute charts and a chart 27 second
95 00:16:59,850 --> 00:17:11,130 chart, you're not limited. And your framework would make sense to you. And the logic behind those things. But you, they may not be critical to me, they may not
96 00:17:11,130 --> 00:17:21,270 be critical to everyone else in this social circle that you're into. That's why I frown upon groups. Okay, I see a lot of folks coming to my comment section, or
97 00:17:21,360 --> 00:17:28,500 they reply to my tweets. And what they're trying to do is they're trying to drum up an audience. Okay, they're trying to get people to come together to
98 00:17:28,500 --> 00:17:37,170 congregate. And then they're gonna come in and pitch ICT mentorship videos, how price when I'm telling you don't waste your money, folks, you have no idea what
99 00:17:37,170 --> 00:17:48,720 I'm teaching it. Don't buy from these goobers. Trust me, okay, trust me and look what I've already given away. I'm going to amplify what I've already given away.
100 00:17:49,290 --> 00:17:58,470 We're getting ready, we're going to be making ends meet. And we're gonna have some PDF study guides and everything starting this weekend. But it's going to be
101 00:17:58,470 --> 00:18:11,190 based on building rules, rules of engagement, when not to engage. And because they have an economic calendar with the Non Farm Payroll this week. I don't like
102 00:18:11,190 --> 00:18:20,160 Non Farm Payroll. Have I made money on Non Farm Payroll with real live trading? Yes. Have I lost a lot of money on Non Farm Payroll with real life trading? Yes,
103 00:18:20,910 --> 00:18:33,090 the latter is more likely to occur and has been in the past over my career. So doesn't it make sense if I know that's an area where I'm prone to do it wrong?
104 00:18:33,840 --> 00:18:46,260 What do you say? Oh, just can't be ICT ICT is too arrogant. He would never say something like that. No. I have found that most of my losses occur in certain
105 00:18:46,260 --> 00:18:57,150 times of the month where the economic calendar, broadcasts it beforehand. And because I was falling victim to everybody else on at the time message boards on
106 00:18:57,150 --> 00:19:08,040 AMS American online. I killed it in Non Farm Payroll. Okay, I didn't see them trade it but I just read what they said they made. But that means I'm missing
107 00:19:08,040 --> 00:19:20,460 out let me go here. And every single time I would regret it and it would be less money in my account as a result. So I came to the conclusion that these people
108 00:19:20,580 --> 00:19:28,260 are full of shit. And I didn't want them trade. They didn't even show me a burqa statement. They just said they made this and I had her on that this is actually
109 00:19:28,500 --> 00:19:37,830 them to themselves and everyone else that would lend their ear reader crap because they want to be coddled they want to be nudged like, wow, you you must
110 00:19:37,830 --> 00:19:46,260 really know what you're doing. And then they've mentally because they really blew their shit. They lost their money and now they're gonna act like they got
111 00:19:46,260 --> 00:19:55,680 it all figured out when they really don't. And that's why this industry sucks in a lot of ways because there's a lot of fakes and they may not come out with the
112 00:19:55,680 --> 00:20:04,650 intent to be a fake or a fraud or trying to scam anyone they may not even be selling saying anything. But if you take the time to listen to other people, and
113 00:20:04,650 --> 00:20:11,430 they're the usually the braggarts, the people that don't really have anything to show for what they're saying, but they're really critical of other people, too.
114 00:20:13,380 --> 00:20:24,840 They aren't profitable. They're not making money. Because believe me, folks, if people are making money in this day and age, believe me, they're going to shove
115 00:20:24,840 --> 00:20:31,740 it down your throat. They're going to prove it even when you're not asking for it. And when you said, you've seen enough, they're going to still shove it down
116 00:20:31,740 --> 00:20:42,270 your throat. Think about this whole world right now. Look, what you're listening to. You're listening to me right now, pontificate about things that probably you
117 00:20:42,270 --> 00:20:54,090 don't feel are useful to you. But they really are, do you have a filter? Are you filtering out all these people that like to get on the internet, on Twitter, and
118 00:20:54,090 --> 00:21:04,200 do things and say things that they can't really back up with any evidence that those things took place. And that's how I fell victim to Non Farm Payroll. I
119 00:21:04,200 --> 00:21:08,550 listened to other people. bloviate about how much they made.
120 00:21:10,260 --> 00:21:19,050 Maybe they made a profitable trade later in the day, but it's six trades in the previous five are losing trades, are only talking about how they made money on
121 00:21:19,050 --> 00:21:30,690 that one trade. And their net loss for today isn't really being talked about. Is that genuine? No. But that's them putting on that mental bandaid. That's what
122 00:21:30,690 --> 00:21:44,040 social media has done. It's allowed people to put social band aids on their character flaws. They virtue signal. Oh, look at me, I'm doing this for the, for
123 00:21:44,040 --> 00:21:51,540 the poor. Look at this, I'm gonna, I'm gonna give a helping hands ministry to people can't afford this and that. Well, if you're doing that, there's your
124 00:21:51,540 --> 00:22:03,960 reward. I don't get on here and talk about what I do for other people. Because I don't want that reward. I don't want that virtue placed on me because I say I'd
125 00:22:03,960 --> 00:22:15,150 done something. The people I helped, they know I help them. And I don't want to be glad hand about it. And the same thing about my trading. I want my students,
126 00:22:15,660 --> 00:22:27,240 my genuine students to come here on YouTube, with a pen and pad with a sincere desire to want to learn and lay down all your mental baggage. That means the
127 00:22:27,240 --> 00:22:37,440 stuff you're bringing in, that's toxic. And also, what your previous educators taught. You put all that stuff down. You can you can pick it up later on. But if
128 00:22:37,440 --> 00:22:47,850 you try to blend all that stuff, like Wycoff, and supply and demand and Elliot wave and harmonics, and this net, anything, all that stuff is going to make it
129 00:22:47,850 --> 00:22:58,500 harder for you to learn what it is I'm teaching because what I'm teaching is very easy. But the complication is, you have to get out of your own way. And
130 00:22:58,500 --> 00:23:07,980 want to get myself out of my own way was make very rigid rules around how I'm going to conduct myself in the marketplace. When am I allowed to do anything?
131 00:23:08,760 --> 00:23:22,320 And here's the hard time. When am I not allowed to do anything? Think about it. The sign says Don't step on the grass. Don't touch wet paint. What are you gonna
132 00:23:22,320 --> 00:23:38,400 do? You're gonna moonwalk across the lawn. And then you're gonna put your initials, fresh paint. ICT was here 2000 going to bite me. I did stupid stuff.
133 00:23:38,400 --> 00:23:45,690 Like I when I was younger, I'm not proud of it. But that's human nature tells me I can't do something. And I'm gonna start thinking about 20 ways I can do it and
134 00:23:45,690 --> 00:23:55,590 not get caught doing it. And then feel like I've done something good when it's not good. That's human nature. That's human nature. All of us have that. That's
135 00:23:55,590 --> 00:24:10,950 inherent in all of us. A child is not taught how to be a hating little being. It just knows it by nature. Well, in trading, all of us are like children. Yeah,
136 00:24:11,700 --> 00:24:22,740 that means what? we contend to do things to get ourselves in harm's way. And you have to have boundaries, you have to set them as the analyst. Because if you
137 00:24:22,740 --> 00:24:34,890 don't do that, as the analyst, the trader in you is going to listen to the gambler just like it did when I was on AOL. Not on payroll man is going to move
138 00:24:34,890 --> 00:24:45,180 around, it's going to do this, it's going to do that. And if you buy this package here, it'll send you a signal. And it's a red box. That means you sell
139 00:24:45,180 --> 00:24:53,550 it and if it's a green box, you buy it. Oh, what the news is going to do we know what the numbers are going to do, man. I wasted money doing it. And I was among
140 00:24:53,550 --> 00:25:00,990 a lot of other people that did that kind of crap. All these systems that said before the news comes out, we're gonna get If you do this, and as soon as the
141 00:25:00,990 --> 00:25:11,670 news comes out, it's going to give you a red or a green box. Well, first of all, you're sitting here, you're waiting for red or green. Think about how that works
142 00:25:11,670 --> 00:25:25,470 when you're at a red light in your automobile. Are you really looking both ways. And see if these oncoming traffic has really stopped on their end before your
143 00:25:25,470 --> 00:25:33,390 green light becomes. Chancellor, you probably don't do it. I know I have to yell at my wife all the time. And yes, I do yell at my wife when she's driving,
144 00:25:33,390 --> 00:25:43,410 because she's not that safe as a driver. And I don't feel comfortable riding shotgun with her. And one of the things that she does is she waits for the light
145 00:25:43,410 --> 00:25:52,590 to turn green, and starts moving. But there's people that just generally think they can get through that light. And that's a lot of what we do as traders when
146 00:25:52,590 --> 00:25:54,600 we don't have limitations.
147 00:25:55,980 --> 00:26:04,740 Just because you have time to be in front of charts, just because you have margin in your account. Just because these candlesticks are painting, and you
148 00:26:04,740 --> 00:26:18,780 have time to be in front of the next session doesn't mean that this is the safest thing for you to do. For instance, look at your chart right now on the E
149 00:26:18,780 --> 00:26:28,710 Mini s&p. Now, probably not as practical for people that are listening to this later on. But it's basically consolidating right now. It had a little bit of a
150 00:26:28,710 --> 00:26:39,870 rally up. After the opening at 9:30am. We started drifting, lower, and now we're consolidating. Okay. There are people out there that can't wait to get in, based
151 00:26:39,870 --> 00:26:51,990 on the last five candles that says printed, because they felt they're going to do what miss something. I don't feel like I'm missing anything. Because we have
152 00:26:51,990 --> 00:26:59,160 Non Farm Payroll conditions. And generally for those who have been keeping up, and for those that have not really listened to this before, or heard me say it,
153 00:26:59,550 --> 00:27:06,270 the way I teach my students is on Non Farm Payroll weeks, what is that? It's when the employment number comes out, usually the first Friday of every Trade
154 00:27:06,270 --> 00:27:17,280 Month, and they'll give you the employment number. I don't care about the data. And whenever these reports come out, when I'm looking at high impact or medium
155 00:27:17,280 --> 00:27:27,090 impact news drivers, I don't care what the data says, I don't care. First of all, if I cared about it, think about what you're expecting, you're going to
156 00:27:27,120 --> 00:27:36,000 wait for the numbers to be released, then open up the data and start reading it is the market sitting still while you're doing that? Hell no ain't doing that.
157 00:27:36,240 --> 00:27:46,470 It's not doing it. And my belief is it's already priced in to the market. And then what they're going to do is, they're going to use that as sentiment. And
158 00:27:46,560 --> 00:27:54,240 people many times will be caught off guard not all the time. But in my experience, I've seen many times where the data suggests that it should go
159 00:27:54,240 --> 00:28:02,040 higher for that particular market, or would be considered beneficial for the currency. Okay, that's how like for expect he will say something like that. And
160 00:28:02,040 --> 00:28:10,740 it goes the other direction. So that was one of the reasons why I stopped trying to decipher all the quote unquote, fundamental data, then I don't think that's
161 00:28:10,740 --> 00:28:24,810 fundamental. That's hindsight. Because all those data points they'd been known about. They've been known about by more intelligent, more vested individuals,
162 00:28:24,870 --> 00:28:32,880 entities that really have a lot more money in this game than you and I and collectively, will ever. And because of that, they're greedy. And they'll pay
163 00:28:32,880 --> 00:28:42,240 for information. And they'll want to be positioned ahead of time, and start fading these types of moves. Because once it gets into the public's hands and
164 00:28:42,240 --> 00:28:56,760 eyes, it's already done. Like it's done, what do you expect it to happen? So it's not the same as if, you know, headline comes out. So and So country was
165 00:28:56,760 --> 00:29:08,070 just bombed, God forbid, in a nuclear fashion, man, that's gonna cause the market to go nuts. You can't you can't expect that you can't know how to
166 00:29:09,060 --> 00:29:19,890 decipher what that's going to do for a marketplace. It's going to be crazy. And that's like a black swan event. Every individual event that's high impact a
167 00:29:19,890 --> 00:29:30,480 meeting in the impact event, I treat that as that very thing just on a very smaller scale. In other words, I'm expecting volatility to be injected into the
168 00:29:30,480 --> 00:29:43,770 marketplace. Something happens by that data being released in the market is either organically or artificially manipulated. And what does that mean? Well,
169 00:29:43,770 --> 00:29:50,220 the algorithms going to do it normally does or manual intervention comes in and they will reprice to a specific level and it usually is immediate, kind of like
170 00:29:50,220 --> 00:29:58,740 an interest rate. announcement coming out by FOMC, something like that. If the Fed comes out, or another country comes out and says okay, we're going to cut
171 00:29:58,740 --> 00:30:08,310 interest rates You buy a few basis points, something unexpected, you know, boom, they reprice immediately. That's not buying and selling pressure, that's a
172 00:30:08,310 --> 00:30:15,030 central bank level. They're saying, it's our currency, it's our commodity, it's our products aren't good. And guess what, who sets the price we do. And we don't
173 00:30:15,030 --> 00:30:29,700 care if you're long or short and too bad, pound St. Those types of events, you can't really predict. So what I like to do is wait for the news to hit the
174 00:30:29,700 --> 00:30:42,540 market, and then basically go in the price and see if there is something that would be manipulated, to match my narrative, my bias, my trading model,
175 00:30:43,800 --> 00:30:53,460 if there's the if there's three things agree, and the event is now been introduced to the marketplace, that being volatility, based on the data that's
176 00:30:53,460 --> 00:31:05,040 being released by the report, then I'll go in and look to engage, but on days after holidays, and if it's like it is here, we had fourth July in the US, it's
177 00:31:05,040 --> 00:31:16,140 a holiday in the US dollar based. And, you know, people are out there doing what they're cooking hot dogs and hamburgers, someone getting sunburns, and doing
178 00:31:16,140 --> 00:31:30,180 things as he probably shouldn't be doing. fun doing it. They're not trading. But the day after that, when we put our thinking caps back on, maybe you are a
179 00:31:30,180 --> 00:31:42,570 little hungover, maybe you're a little tired, maybe you're not really focused in on what's going on. And then you add to it that we have a Non Farm Payroll week,
180 00:31:42,960 --> 00:31:53,640 where I teach my students on those particular weeks on Monday, Tuesday and Wednesday, by 7am, you either have your trade on, or you don't. And you stay on
181 00:31:53,640 --> 00:32:04,440 the sidelines the rest of the week. Come on ICT, that's not fun. I can still find trades on Wednesday. You can you can or not. There's lots of moves, I miss
182 00:32:04,440 --> 00:32:20,970 doing this. But of really big moves. I'm not oblivious to that. But I've also been saved by a lot of noisy, choppy price action. And I want to be where it's
183 00:32:20,970 --> 00:32:30,780 likely to materialize in the scope that it's high probability. There's market symmetry there, everything's lined up, everything's in agreement dollars up,
184 00:32:30,780 --> 00:32:39,900 everything else is going down. I'm going short Eurodollar. And I have correlated pair s&p Divergence supporting the fact that I'm in the weaker of the two
185 00:32:39,900 --> 00:32:49,200 between cable and fiber. So that means Euro dollars, failed to make a higher high, and then it's going lower, more likely to go lower than cable, which is
186 00:32:49,200 --> 00:33:00,300 POUND DOLLAR. So all those things that's a symmetrical market. To me, it's high probability, all things all factors considered, that's high probability. But I
187 00:33:00,300 --> 00:33:13,350 will never frame the day after a holiday is high probability ever, ever. Because that market is ripe, to be manipulated manual basis, that means someone can come
188 00:33:13,350 --> 00:33:24,840 in and do something that you won't expect. And I don't want to be able to look back and say, Well, I usually lose money in that situation. And I took the
189 00:33:24,840 --> 00:33:34,770 chance today, and I lost again, I wish I would have learned my lesson. I don't want to have that again. So what I like to do is, look at the marketplace.
190 00:33:36,300 --> 00:33:47,340 Respect the risk, come up with an idea and opinion and see if it pans out. And then when it doesn't pan out in my journal, those entries are like this. This is
191 00:33:47,340 --> 00:33:55,950 one more instance where I'm glad I have these rules of engagement that keeps me from participating in the marketplace because I expected this and the model
192 00:33:55,950 --> 00:34:06,540 didn't materialize. This is what took it had I not followed my rules, I would have suffered a monetary loss with this idea. Now, in my critiquing myself, Yes,
193 00:34:06,600 --> 00:34:17,310 am I being negative about it? No. I'm re emphasizing the fact that I've done things correctly. But also recording the fact that if I was to follow the model,
194 00:34:18,120 --> 00:34:26,970 or a model, I have lots of models. But if I followed a model that I had in mind beforehand, when I've already adopted the mindset based on rules of engagement,
195 00:34:26,970 --> 00:34:36,840 things that I have to know when I'm going to do something when I can't do something days after holidays, I am likely to sit still. But I'd like to
196 00:34:37,260 --> 00:34:47,580 obviously engage on the mental side of trading. It doesn't mean I'm going and pushing a rival account. But I'm usually going in sometimes with a demo
197 00:34:47,580 --> 00:34:56,370 sometimes I'm making a comment to my son's. I'll say look, this is what that thinks is going to happen. And let's see what happens. They love telling me when
198 00:34:56,370 --> 00:35:07,590 I got it wrong. Much like some of the people out there on YouTube and Twitter They live for that. But when I get it wrong, I sit down with them. And I say,
199 00:35:07,590 --> 00:35:17,100 Look, this is what dad was expecting. And this is what took place. And this is the reason why dad or ICT doesn't want to do these on these types of days,
200 00:35:17,400 --> 00:35:27,420 because I'm more apt to be incorrect. So again, if you know you're likely to have your arm tore off, walking down three streets, to the right from where you
201 00:35:27,420 --> 00:35:35,790 live, and there's a white picket fence, and there's a Rottweiler over there. And every time you walk by there, this dog has taken something from you, whether it
202 00:35:35,790 --> 00:35:44,670 be clothing, flesh, something, how many times you're going to keep walking down there before you realize it's probably not the best path for you to end up where
203 00:35:44,670 --> 00:35:45,450 you're trying to get in
204 00:35:45,450 --> 00:35:56,130 one piece. Now, I don't know where you're from. But I don't need to have decades of that type of experience before I learned my lesson. It took me a couple
205 00:35:56,130 --> 00:36:07,680 years, painfully, but it took me time and pain and loss to come up with these ideas where I'm not going to engage. And I don't care what anybody else thinks
206 00:36:07,680 --> 00:36:15,810 about it. I don't care how anybody else views it, because most of the time, people are going to be judgmental to you, they'll be judgmental to me. And they
207 00:36:15,810 --> 00:36:23,400 have no idea how I trade they don't even know what it is I'm teaching you, they look at something. And because they want to make a name for themselves, or they
208 00:36:23,400 --> 00:36:33,180 want to feel better about themselves. They'll critique some and it's usually by ignorance, and they look like a fool. Don't take other people's opinions about
209 00:36:33,180 --> 00:36:43,860 you not wanting to engage the market as something that should influence you laugh at them. Because they're, they're raising of importance, their self
210 00:36:44,370 --> 00:36:53,040 awareness about themselves. And they equate that you should view them as someone who listened to when they brought nothing to the table as the reason why they
211 00:36:53,040 --> 00:37:00,960 should be listened to. And you're not going to get someone to listen to you. If you start poking at them saying you've done this, you've done this wrong, you do
212 00:37:00,960 --> 00:37:10,320 this wrong. Okay? Show me by contrast, what it is that I should be doing. These jokers don't do that. So when I sit down with you, and I lecture you, I'm
213 00:37:10,320 --> 00:37:20,610 telling you, I've learned these lessons through pain, okay, I didn't learn them from books. I learned these from pain, I learned them from taking an account,
214 00:37:20,700 --> 00:37:33,000 placing it into risk, in that environment, fleecing me, taking from me, not only one time occasion, not on just a handful of occasions, but many instances where
215 00:37:33,030 --> 00:37:43,290 many times equated to me having an account that was blown. I have no reason to hide that. That's the whole reason why I'm teaching the way I teach. I have
216 00:37:43,290 --> 00:37:51,270 suffered those things. So what's in it for you to learn from somebody that has made mistakes before and other things? Sure. What did they do to hurt
217 00:37:51,270 --> 00:38:00,660 themselves? What did they do to help themselves learn better, quicker, without having all these pitfalls and these snares? That's what you want. That's a
218 00:38:00,660 --> 00:38:11,130 mentor, someone that has gone through things, and understands, okay, that's a problem area. And if you don't do these things, and put these controls in place,
219 00:38:11,310 --> 00:38:23,220 you're likely to repeat that same thing in the future. If they're not equipped to see that and come up with a mitigation to it. Some kind of, like I mentioned,
220 00:38:23,250 --> 00:38:31,620 mechanism, that means a filter something that says you are not allowed to trade, you're not allowed to participate. You have to have those things. Think about
221 00:38:31,620 --> 00:38:40,020 it, folks, if if you don't drink and drive, and you stay on your side of the road, and you don't speed, about 85% of the time, you're gonna kind of have a
222 00:38:40,020 --> 00:38:50,190 car accident and the people around you aren't gonna have car accident either. But sometimes there's individuals that say those those rules don't apply to
223 00:38:50,190 --> 00:39:02,160 them. Well, it's the same thing with trading without stop loss. Yeah, I know that. Yeah. That doesn't listen to me, okay. And I know there's people in here
224 00:39:02,160 --> 00:39:09,600 that are teaching other people even have YouTube channels, and they don't use stop losses, and they try to justify why they don't use a stop loss. There is no
225 00:39:09,600 --> 00:39:23,910 justification for it, zero, learn how to mitigate risk. Then go back to teaching. Because if you're not using a stop loss, you are gambling. And the
226 00:39:23,910 --> 00:39:37,500 only thing you're teaching other people is guess what? You're Nostradamus. You know what the markets going to do? Think about it. If you're saying that you
227 00:39:37,500 --> 00:39:44,100 don't need to put a stop loss and because you know where you're gonna get out when your trades wrong. What happens when it reprice as aggressively and you
228 00:39:44,100 --> 00:39:56,160 didn't expect that repricing occur so aggressively? And it moves way beyond what your safe exit point would have been or what you're willing to lose? You're
229 00:39:56,160 --> 00:40:09,840 crushed. And if anybody's watched you trade that way. Which, conveniently, they never let anyone see that those individuals are learning to do that very thing
230 00:40:09,840 --> 00:40:22,620 in their own trading. Now is that, in my opinion, I think you would agree to, is that right kind of leadership, and or mentor or teacher, when it comes to
231 00:40:22,650 --> 00:40:34,920 risking money? I would humbly submit No. Because what they're doing is trading by itself is already in heavy. And you have to have a way to control yourself.
232 00:40:35,910 --> 00:40:45,210 You have to control how much you risk, your leverage, the amount of money per trade, how much of a stop loss you're gonna allow in terms of points or pips.
233 00:40:46,350 --> 00:40:55,920 You have to place a limit on that. What days of the week you're going to trade? Are you gonna trade any old time? I teach what a kill zone. And we're shorten,
234 00:40:56,250 --> 00:41:03,420 we want to see it go up first. That's what instant traders do. They have mechanisms, they have to wait for the market to have an uptick before they go
235 00:41:03,420 --> 00:41:12,660 short. So I adopted that with my perspective and price, I need to see what first it needs to go higher. Okay, so where does it need to go to have some measure of
236 00:41:12,660 --> 00:41:23,700 equilibrium. So I'm having all these rules, and these control mechanisms placed in my logic, because it's an algorithm that's pricing these markets, and it's
237 00:41:23,700 --> 00:41:36,660 booking them. And they have what control mechanisms, filters. So I'm aligning myself with an algorithmic principle oriented trading model. But if you are
238 00:41:36,660 --> 00:41:43,080 teaching, or if you're learning from someone that's not using a stoploss and preaches they don't need the use of stop loss, because they know where they're
239 00:41:43,080 --> 00:41:51,960 gonna get out. What they're saying is they know what the markets going to do. Absolutely. So therefore, they don't need a stoploss. That is the definition of
240 00:41:51,960 --> 00:42:06,060 arrogance. I am not arrogant, I'm confident, probably sometimes, to blisteringly confident for some, but I do have limitations. And to teach or to illustrate
241 00:42:06,090 --> 00:42:15,930 trading without a stop loss, there is no other way to say it, folks, this is the way it is those individuals are doing that are saying they know what the markets
242 00:42:15,930 --> 00:42:28,410 gonna do. Now, they may say it and believe it. But that's not true. I don't know what the markets gonna do. I have to use a stoploss. I know it's likely to do
243 00:42:28,410 --> 00:42:40,560 this or that. But I have to use a stop loss. Why? Because I'm human. I may have done something wrong. I may have shirked a rule of engagement bent the rules a
244 00:42:40,560 --> 00:42:51,660 little bit. I've done in the past. And I'm human. Sometimes I think. Yeah, this looks like it's trying to do this, I want to do that. But it looks like it's
245 00:42:51,660 --> 00:43:01,860 still in this. And I'll just toss in something small. But I'm using a stoploss. Why? Because I don't know what the manual side of intervention is going to do.
246 00:43:02,400 --> 00:43:13,410 It, nobody knows that. That's the risk that is always in the offing, you have to have that aware that awareness of that potentially harming you. And if you're
247 00:43:13,410 --> 00:43:25,470 learning from someone, or if you're trying to do this without using a stoploss, what you're saying is you have no boundaries. That means whatever the market
248 00:43:25,470 --> 00:43:34,890 wants to do to you, you're inviting it. Now there are times when manual intervention comes in. And major repricing in the market basket takes place and
249 00:43:34,890 --> 00:43:47,430 your stop loss necessarily will be of no protection to you. And what does that mean, you might have a 20 handle stop loss on your index futures trade. Now, I'm
250 00:43:47,430 --> 00:43:59,490 not arguing or making the case that 20 handles is the appropriate size. But let's just say for the discussion here, say you have 20 points. Okay. And the
251 00:43:59,490 --> 00:44:12,990 market has some kind of major announcement comes out or someone gets bombed. Boom, the market just gaps. 40 handles, thank you can't do that. Stick around,
252 00:44:13,050 --> 00:44:25,320 because you're gonna see stuff like that real soon. But what happens with your stop loss? Does the market in the broker say, hey, Gene had her stop loss? At
253 00:44:25,320 --> 00:44:40,890 4250? Okay, but it gapped 4310 Oh, I can't move like that. Either direction it can do that. No problem, given the right circumstance. They're not going to go
254 00:44:40,890 --> 00:44:51,450 back and say, Okay. Jane stock was at 50. So we're going to honor that and get her out. And we're going to mark to market in her Castel net understanding.
255 00:44:51,660 --> 00:45:01,680 They're not going to do that, folks. They're not going to do it. So, yes, you need to stop loss. Yes, sometimes there's Stop Loss doesn't give you the
256 00:45:01,740 --> 00:45:14,820 protection that you hold true that it would likely give you. That's the underlying risk. That's why this is not meant for everyone. And for some of you,
257 00:45:14,820 --> 00:45:21,960 you're probably thinking, this is something I don't, I didn't really think about this, I don't think I can do this. Guess what? That's probably true. And maybe
258 00:45:21,960 --> 00:45:29,250 I've saved you a lot of hardship and monetary loss, because you probably wouldn't learn until you lost a lot of money, that you probably can't do this.
259 00:45:30,690 --> 00:45:34,890 But for those individuals that know that you've been bitten by the bug, and you're not going to take no for an answer,
260 00:45:36,720 --> 00:45:43,620 you have to use that boss, because it's a rule of engagement, you have to have it, you don't know what that market is going to do. You don't know how far
261 00:45:43,620 --> 00:45:56,730 they're going to take it against your idea. And believe me, when I was a 20 year old, I arm wrestled, and I would pretend I was using a stoploss. Like, okay, if
262 00:45:56,730 --> 00:46:03,660 it goes down here, I'm gonna get out of that. And then all of a sudden, they would start going towards it. And that's okay, well, really, you know, I'm
263 00:46:03,660 --> 00:46:12,630 willing to take a little bit bigger risk, I'll sit through 10 More cents, and move in soybeans against me, more than I would have missed stop loss is not in
264 00:46:12,630 --> 00:46:26,280 the market yet. It's this open, I have a target I'm trying to get to. But they'll have to keep you want to push it in. Because that's what you're
265 00:46:26,280 --> 00:46:37,920 essentially doing. And that may sound crude, but that's exactly what it is. If you give the market the opportunity to abuse you, it will gladly do so
266 00:46:38,730 --> 00:46:47,850 repeatedly. Don't believe it, lose and go back and again, lose and go back. And again, it's not gonna feel sorry for you, it's not going to feel sorry that you
267 00:46:47,850 --> 00:46:56,880 didn't put a stop loss and and limit the amount of money that you're gonna lose or could have lost. It's going to punish you. That's what it's there for. It's
268 00:46:56,880 --> 00:47:07,770 not here, for your entertainment. It's not here for you to get better in terms of financial living. It's not for you. This is war. And you have to treat it as
269 00:47:07,770 --> 00:47:21,150 such. When people go out to battle, nation against nation, are they walking out there with wifebeaters? On in shorts and flip flops? Hell no. They're going out
270 00:47:21,150 --> 00:47:32,040 there with helmets, plates, they're trying to get behind barriers, like tanks and things that fortify themselves from, you know, enemy fire, because there's a
271 00:47:32,040 --> 00:47:40,350 risk. So if you're out there trying to do things, and you don't have control methods, mechanisms and measures in place, when should you do something? When
272 00:47:40,350 --> 00:47:50,310 shouldn't you do some apply? So stop loss. I'm willing to take a loss if it goes here. But if it goes here and beyond, I'm probably wrong. That's what everybody
273 00:47:50,310 --> 00:47:59,940 without a stop loss is avoiding that notion of being wrong. And being wrong, folks, you got to warm up to the idea. That's the best thing to know, in this
274 00:47:59,940 --> 00:48:09,960 industry. Are you wrong? Are you wrong about your idea, your outlook on the marketplace. Because if you are wrong, you're going to want to know it. Because
275 00:48:09,960 --> 00:48:18,780 you're not going to keep throwing good money after bad. And as a young man at 20 years old, I didn't know that. I learned it painfully and very expensively, but
276 00:48:18,780 --> 00:48:29,190 I did learn it. Those. And these are the discussions that none of the young hot shots that want to come here, teach me an older block, teach me an older block,
277 00:48:29,220 --> 00:48:36,270 just give me the bias those individuals and you know who you are listening, you're never going to learn how to do this, as long as you hold on to those
278 00:48:36,270 --> 00:48:45,150 mindsets and think that's all it is. There is so much more that's going to be in your way. And you have not been here long enough, not under me but in the
279 00:48:45,150 --> 00:48:56,160 markets long enough to discern where these things are gonna creep up into your development, your trading. And everybody indoors it. You're not going to be the
280 00:48:56,160 --> 00:49:05,490 guy or gal that this tap dances around these barriers, these pitfalls, these snares, you're going to put your head in the noose just like everybody else
281 00:49:05,490 --> 00:49:17,430 doesn't hang themselves. But Antonia you don't have to do those things to learn the lesson. Learn from my mistakes, learn from the fact that I lost fortunes,
282 00:49:17,850 --> 00:49:28,260 doing stupid stuff, stupid things. And it's not shameful for me to admit these things I would want to learn from someone that's open and honest. This is how I
283 00:49:28,260 --> 00:49:34,860 screwed up in the past. And I lost lots of money. And I believe these things that are out there, they're still being promoted by books and authors and
284 00:49:34,860 --> 00:49:47,700 things. And it's garbage. Because they only talk about this is what you can make. This is the pattern that works and they fixate on those positive outcomes
285 00:49:48,420 --> 00:49:59,370 and not nearly enough on the things they're going to hurt you. That's the reality. You're going to lose money, even trading with what I teach. You're
286 00:49:59,370 --> 00:50:08,310 going To lose money, are you going to keep losing money in the same trading day in the same environment that you keep losing previous weeks in previous months,
287 00:50:08,400 --> 00:50:18,750 most of you probably won't endure that because your money management is lacking. And you'll blow out before that even becomes an issue. Suddenly, some of you are
288 00:50:18,750 --> 00:50:29,820 thinking to yourself, Wow, this trading thing is a little bit more involved than I thought, exactly. It's very easy to do. But it's next to impossible to
289 00:50:29,820 --> 00:50:31,830 accomplish profitably.
290 00:50:33,660 --> 00:50:42,600 Because you get in your own way, you don't have boundaries, you don't have limitations on what you can and can't do. And you expose yourself to risks,
291 00:50:43,680 --> 00:50:56,760 limitless risks without a stop loss, you're saying, take everything in my account and more. And given that opportunity, it can. And will. I have seen that
292 00:50:57,960 --> 00:51:07,410 firsthand, I know that intimately. That's a feeling you don't want to ever have. And I can tell you, in those instances where I was a 20 year old, and I knew
293 00:51:07,410 --> 00:51:20,040 that was going to be the outcome, I still wouldn't close the trade. Think about it. I'm in an account, that account maybe had 17 $18,000.20 $1,000 in it. And
294 00:51:20,040 --> 00:51:30,750 I'm in a position, and I'm holding on to it holding on to it. Live cattle is going to it's going to move it's moving against me. And it's way beyond what
295 00:51:30,750 --> 00:51:38,340 I've been thinking is this is the area, I would like to get out to go down here. But I don't want to be wrong. I don't want to be wrong, man. Come on, I need a
296 00:51:38,340 --> 00:51:51,060 winner. And if I can come back from this, this is like the underdog story. It's thing went against me so far. And I still came out. Well, I came out, I came out
297 00:51:51,300 --> 00:52:05,190 of that trading day with a blown account. So you have to have patience, you have to say, regardless what anybody else thinks about me, regardless of whatever my
298 00:52:05,190 --> 00:52:20,010 mentor might suggest, I have to have my own limitations. These are the rules that adhere to. That's it, he teaches 1% risk, but I can't I gotta do one
299 00:52:20,010 --> 00:52:30,780 quarter of 1%. Because I just can't, I can't tolerate it, I gotta, I gotta use that little bit of money to do it. That's the right way of doing it. If I or
300 00:52:30,780 --> 00:52:46,800 anybody else says, this is the minimum threshold that you should reach in terms of managing and managing risk. It's always there. But if you take that one
301 00:52:46,800 --> 00:52:55,680 degree or more beyond what the educator like myself or anyone else that's teaching sound money management and risk management, and you make it even more
302 00:52:57,030 --> 00:53:06,630 limited. That's actually a good thing. And some of you're like, Oh, well, you can't get rich, I can't make a lot of money, risking one quarter of 1% You don't
303 00:53:06,630 --> 00:53:20,760 know math. Anybody that says you can't get rich, risking one quarter of 1% failed rudimentary math period. Because you can do a whole hell of a lot,
304 00:53:21,060 --> 00:53:32,670 risking one quarter of 1% If you know what you're doing. Let's promise you failed rudimentary math. That's the first problem, too. You don't want to trade
305 00:53:33,630 --> 00:53:41,280 you don't know how to trade because you don't know that these patterns repeat multiple times inside of one week. How many weeks are in a month generally for
306 00:53:41,280 --> 00:53:52,800 more? How many months or in a year 12. How long do you plan on being on this spinning rock? It's uncertain. But as long as you have mental faculties and help
307 00:53:52,800 --> 00:54:04,470 to do so and equity you probably want to keep trading right. So all that is potential opportunity. But you you right now listening are probably looking at
308 00:54:04,470 --> 00:54:16,650 every single individual transaction every trade this is the make it and break it this is the be all end all is has to work or I'm done. Why? Why did you just
309 00:54:16,650 --> 00:54:29,010 make this a summer blockbuster plot where you have to absolutely conquer the biggest boss of the most villainous organization on the planet. Even the X men
310 00:54:29,010 --> 00:54:38,070 wouldn't even mess with this person. Okay, that's you've turned this trade into. It sounds silly when you think about because that's exactly what you've been
311 00:54:38,070 --> 00:54:49,170 doing. You've turned it into an Olympic feat when it's just a simple trade. But you're trading with such a high degree of leverage in an environment where it's
312 00:54:49,170 --> 00:55:04,290 not likely to work in your favor, but you just had to push a button now you're looking for the theme track to Interstellar, John, I'm gonna figure out the
313 00:55:04,290 --> 00:55:15,450 problems of the universe and I'm gonna beat this trade and come on in you doing too much. It's either you're buying it, it's gonna go higher and you get out, or
314 00:55:15,450 --> 00:55:23,430 you're shorting it, you're getting out lower price. If the markets not providing you an atmosphere or environment that provides it in a way where it's
315 00:55:24,210 --> 00:55:30,720 symmetrical, all things being equal risk on risk off, liquidity is obvious. The markets moving very
316 00:55:32,010 --> 00:55:40,440 nice, clean price levels, it means it's great imbalances, it comes back rebounds, and then start to expand into direction you want to see it. Order Flow
317 00:55:40,470 --> 00:55:48,180 is working in your favor. All those things are firing on all cylinders. That's the environment you want to be trading in. And that's what I teach you how to
318 00:55:48,180 --> 00:55:55,860 identify. But I'm also teaching you and some of your kicking and screaming, you don't want to learn the lessons when to stay out. Because guess what, that's
319 00:55:55,860 --> 00:56:05,820 being told, you can't do something by that. A lot of you have daddy issues. You don't want to be told when you can and can't do something. Don't try to trade
320 00:56:05,820 --> 00:56:21,780 with the two pips stop loss. Because you see other people saying they can do it. Listen, I can doesn't mean I do. Do that. I can, but doesn't mean I do. Just
321 00:56:21,780 --> 00:56:29,250 because you see someone else do something. That means that they've said they've done something already, it's hindsight they've done something that's not an
322 00:56:29,250 --> 00:56:37,050 invitation for you to try to replicate that. The circumstances that caused that event, even if it did make money, you can't go back in time and do that with
323 00:56:37,050 --> 00:56:45,810 them. And you can't take every instance of when someone else said something, just like my lessons and my teachings. They're gonna be fractal they littler,
324 00:56:45,930 --> 00:56:54,090 but they're not exactly identical. And some of you like my uncle was, he's very finite, he it has to be black or white, it has to be this or that. And it can't
325 00:56:54,090 --> 00:57:04,710 be close to it, but still worth taking a shot and using a stoploss and see what happens. If you're too analytical, two, things have to be in the fine print
326 00:57:04,740 --> 00:57:17,430 exactly this way, each time, you are going to struggle. And there's no shorter way of saying it and more direct, you're gonna struggle. The markets not gonna
327 00:57:17,430 --> 00:57:27,450 bend. To make it easier for you, you're gonna have to endure and learn that you have to train, you have to trade in the gray, where it looks like something
328 00:57:27,450 --> 00:57:34,830 you've seen before. But because it could be wrong and you as the operator as the trader following the analyst
329 00:57:40,500 --> 00:57:52,500 you have to incur that risk. And you have to keep at bay, the gambler says, Call me Tom, listen, this guy, man. Look, you see the chart, you done 14 other trades
330 00:57:52,500 --> 00:58:03,720 where he wasn't even looking at that pair. And you made money. Don't listen to ICP about everything. Trust your gut. Well, this is one instance where you don't
331 00:58:03,720 --> 00:58:12,270 trust your gut. And you should be listening to me. I'm talking to the analyst in you, not the trader, this is the brain trust inside of you. This is the person
332 00:58:12,450 --> 00:58:24,450 that you're going to place all your trust in not me, not your friends in some chat room. You the person that's really going to push that button to get in and
333 00:58:24,450 --> 00:58:32,070 get out the person that's really going to put the stop loss on and not pretend that I know where I want to get out. There's a lot of trades, I wish I would
334 00:58:32,070 --> 00:58:42,330 have got out where I wanted to get out. And it didn't give me the opportunity to do it. It just roll right over top of it and kept on running. You have to have
335 00:58:46,590 --> 00:59:01,710 well, flexibility in yourself. You're expecting your own performance. But that is also going to have to incorporate hard rules. I cannot take a date when
336 00:59:01,710 --> 00:59:13,440 circumstances are like this. What is that the day after a bank holiday a day after a long weekend? Those things are man, they're snares. There's gonna be
337 00:59:13,440 --> 00:59:22,530 some days where do this really rip and tear off. And this is wonderful to be a part of those moves. But they're not always like that. They're more likely than
338 00:59:22,530 --> 00:59:34,740 not be like that. So is that high probability conditions? No, at least not by my definition isn't. And I know some of you in here don't like to define things as
339 00:59:34,740 --> 00:59:41,610 high probability based on the things I say are high probability. Because you've done something and you maybe done something and you made profits and it's a real
340 00:59:41,610 --> 00:59:50,370 account because you shouldn't be trading with real money yet you're still learning but some of you just want to be doing it. Now, be honest, no one else
341 00:59:50,370 --> 01:00:02,790 can hear your thoughts. When you know you shouldn't be doing something and you made money. Do you really feel good about it? Now, that's the reason why you go
342 01:00:02,790 --> 01:00:11,820 on social media and talk about how you made mine. You're dealing with the guilt, because you knew that that was not skill that was playing Oh, luck. I believe in
343 01:00:11,820 --> 01:00:22,770 luck. I don't believe my results are a result of luck. I believe when I make money, and I knew I shouldn't have done what I did, that is luck. I know it
344 01:00:22,770 --> 01:00:37,080 exists. My ass has been saved many times of doing the wrong thing at the wrong time. But he came my way out of it with a profit. And I believe that goes on a
345 01:00:37,080 --> 01:00:48,960 lot in this industry. And you see it thrown up, regurgitated day after day, with these people posting their empty for results. And they're the same individual to
346 01:00:48,960 --> 01:01:01,140 have 20 trades in the same asset. And they're all different prices by maybe one and a half pips difference 18,000 $20,000 profits on each one of they did not
347 01:01:01,140 --> 01:01:09,450 take that trade and the fact that they have all those little entry points. They didn't know what they're doing. They're just going in placing trades, placing
348 01:01:09,450 --> 01:01:18,450 trades, placing trades. And in there it is. I'm telling you, folks, those individuals are not making real money, period. But these are the same people,
349 01:01:18,450 --> 01:01:27,450 they're going to influence you and tell you don't use a stop loss trade on days where I'm teaching you, it's not likely to be that perfect setup that you're
350 01:01:27,450 --> 01:01:38,190 looking for. Did you just say perfect? Yes, I did. There's a perfect setup that I had in mind that I hunt every single week. Sometimes I miss it. Sometimes it
351 01:01:38,190 --> 01:01:48,300 doesn't form. But in my mind, I have a specific unicorn pattern that I like to see every single week. And I go after that. That's my personal model, I'm not
352 01:01:48,300 --> 01:01:57,780 teaching you, he has a lot of the things that I've shared. But your unique unicorn pattern, that little perfect thing that you're looking for, you'll
353 01:01:57,780 --> 01:02:05,490 develop that on your own, it might be the very model I gave on YouTube. Or if you're a private membership student, and maybe one of the models I taught, or it
354 01:02:05,490 --> 01:02:16,410 might be a hybrid of 12 that I taught. That's where the flexibility has to come in, you have to give yourself the flexibility and invitation to bring your own
355 01:02:16,410 --> 01:02:28,320 individual unique pneus as a person into your trading. It's fine to take what I've taught conceptually. But you have to still work with that, like clay and
356 01:02:28,320 --> 01:02:37,800 mold it around your personality. If it doesn't work. It's not because my concepts don't work. And it's not because you can't be a profitable trader, it's
357 01:02:37,800 --> 01:02:49,920 just you have not formed fitted it to your personal personality, your way of thinking and engaging. But these types of ideas around teaching that you cannot
358 01:02:49,920 --> 01:02:59,700 do something on certain times and the calendar week or month. They have to be hard rules, regardless of what you've done in the past, regardless of who you
359 01:02:59,700 --> 01:03:07,110 respect in this industry. And they tell you differently. I'm telling you folks, if you want longevity, this is one of those keys those secrets that doing it.
360 01:03:07,830 --> 01:03:20,220 You have to know when to say no, I don't care how good it looks. You're watching the chart. It's no, because I can tell you, every time I broke this rule every
361 01:03:20,220 --> 01:03:33,270 single time before I put the trade on, I could justify Oh, it looks good. And as soon as I put the trade on, most of times I regretted it. But I would stay with
362 01:03:33,270 --> 01:03:46,230 it because well, I committed myself. So I can tell you statistically looking back all the times that were harmful to me. The things that were not positive or
363 01:03:46,230 --> 01:03:46,920 profitable,
364 01:03:48,180 --> 01:03:57,450 all generally hinge on doing things when the markets really not likely to even give me the setup I'm even looking for. And when I was younger, if I had a setup
365 01:03:57,450 --> 01:04:05,520 I was looking for many times I was in paid over to hell with it, you know, I'm getting tired of waiting. This cast is then get down to oversold quite yet. And
366 01:04:05,520 --> 01:04:16,290 I'm just going to get in and now because I'm just impatient and tired of waiting. Stupid. And you've probably done things like this before. Everybody
367 01:04:16,290 --> 01:04:23,880 that's ever traded with live money has done that before. And many of you probably still do it. You know what you're looking for a fair value gap after a
368 01:04:23,880 --> 01:04:31,050 shift in market structure and a liquidity pool. There are three things that are very, very clear things that you need to see in the chart. You can't see them
369 01:04:31,050 --> 01:04:43,650 obviously. What are you doing? gambling. If you feel the impulse to gamble, that is the surest sign for you to get the hell out of there. turn the computer off
370 01:04:43,680 --> 01:04:51,300 and go and leave your house. Leave your office, leave your phone and go do something else. physically remove yourself from the opportunity to hurt
371 01:04:51,300 --> 01:05:03,240 yourself. Do it. I promise you if you do that, over the course of one year, look at how much money you would have saved you herself. That's how you convince
372 01:05:03,240 --> 01:05:11,790 yourself of it. But some of you are so new at this, you're not gonna believe what I just said, applies to you. You're the exception to the rule, and you're
373 01:05:11,790 --> 01:05:20,310 not believe me. I didn't think my shits think when I was 20 years old, I thought I figured it out real quick, real fast, and then was like, Oh, the golden child.
374 01:05:21,420 --> 01:05:28,710 And I had no idea what I was doing. And nobody could have told me these lessons right now. And I never would have listened. And I know that going into this
375 01:05:28,710 --> 01:05:36,450 discussion with you, there are some excess, the young men, you're not going to receive this message and you're just putting your fingers in your ears, you're
376 01:05:36,450 --> 01:05:45,030 waiting for me to talk about something else. There is nothing else I'm talking about today. This is it. But you need this lesson, you need to know it. Because
377 01:05:45,030 --> 01:05:58,140 if you don't, if you don't learn it early on, you won't be in this game long. It won't matter. Because you will remove yourself. And you've done it to yourself.
378 01:05:58,560 --> 01:06:09,000 It won't be me, it won't be my fault. It won't be my concepts. It won't be somebody else influencing you, it's you. You. Your broker takes orders from you.
379 01:06:10,680 --> 01:06:24,870 Everybody else around you may have an influence on you. But still bottom line and responsibility solely rests on you. You can't blame anyone else. You. That's
380 01:06:24,870 --> 01:06:34,680 another reason why this industry is difficult. It's so easy. But it's next to impossible. Because everybody wants to have the credit when it works out in
381 01:06:34,680 --> 01:06:42,840 their favor. They want to add a boy or a girl. They want to champion themselves they want only themselves in front everybody look at this. Look at I did. Look
382 01:06:42,840 --> 01:06:52,470 how great I am. But a thumbs up like my comment my post retweet me. I've done something excellent today. Take notice of me. Look what I've done today, I have
383 01:06:52,470 --> 01:07:07,080 done something that isn't is that someone that's grounded in what they're doing? And they don't need someone else to validate them? No. That's a weak minded
384 01:07:07,080 --> 01:07:21,000 person, that someone that's an attention whore. That's what that is. I'm accused of that. But i not i There's a lot of things that I could show you and do. That
385 01:07:21,000 --> 01:07:29,910 would be the definition of that. I don't need to do those things. What I do what I do just enough to inspire my students, I'm interested in what you're showing
386 01:07:29,910 --> 01:07:40,530 me. That's the exchange here. I teach you, I give you examples to show you what it looks like. And then and then you are to go out there and do it. And then you
387 01:07:40,530 --> 01:07:51,420 show me like homework. That's the relationship we have here. I don't view that as attention seeking or cloud chasing, you're giving feedback to your mentor,
388 01:07:51,510 --> 01:08:05,790 I'm looking for that. I want that. And honestly, I have a lot of user groups in my private mentorship. And I don't have one single user group where one group is
389 01:08:05,790 --> 01:08:15,450 this really thriving, and they're doing this like they're afraid. Like they're afraid to be judged by other people in their own group.
390 01:08:18,090 --> 01:08:26,790 In a safe, enclosed little area, like I have in a private mentorship forum, they should feel safe, they are not. And that tells you something about their
391 01:08:26,820 --> 01:08:38,340 psychology, their viewpoint. They're afraid. And you have to conquer that fear. Put it out there, when you send me something on Twitter. Or if you make a video
392 01:08:38,430 --> 01:08:44,820 on YouTube, and you send me the link, and I watch a lot of videos as long as you're not really long. I like to see the videos like I create myself, these
393 01:08:44,820 --> 01:08:53,970 little vignettes. And you probably hear my stomach growling because I haven't seen anything I apologize. But I liked that feedback. Because that means I know
394 01:08:54,120 --> 01:09:01,710 you're doing the work. And you're taking the lessons like this one, and you're applying it to yourself, you're applying it to your trading. And when you do
395 01:09:01,710 --> 01:09:10,230 those types of things repeatedly, you're going to get the results you're looking for, you're not going to get it on the timeline that you want. That's the
396 01:09:10,230 --> 01:09:21,000 problem. You're all subscribing to the fact that yes, these things work. Yes, I can do it and you see other people doing it. But you don't want to subscribe to
397 01:09:21,000 --> 01:09:29,220 the idea that it's going to take you a year to get really a full, solid understanding of what a calendar year looks like in trading. That's why I tell
398 01:09:29,220 --> 01:09:39,780 you, it's going to take you about a minimum of a year, you can learn how to trade in a month and a half, two months. You can learn that part of it. But you
399 01:09:39,780 --> 01:09:49,590 cannot learn to be a trader. Anything less than a year. Now don't give a shit who tells you there's a lot of people out there beating their chests that
400 01:09:49,590 --> 01:09:59,550 they're the best. They're the goat or this nothing. I don't see their students showing shit. I'm waiting. I'm being real patient before the end of the year.
401 01:10:00,000 --> 01:10:14,520 But I'm waiting. And I don't see anybody thinking outside the box or profiting in the box. But I could be wrong, we'll see by and a year. But these guys are
402 01:10:14,520 --> 01:10:27,990 here. They try to influence you. And only thing I'm trying to do is keep you on the right path. Don't do stupid stuff. Don't take unrealistic risk. Don't expect
403 01:10:27,990 --> 01:10:42,150 these models to dance for you. When there's no music playing. That's essentially what's being said here. Don't go in immediately after a bank holiday, and expect
404 01:10:42,150 --> 01:10:53,640 the market to be perfect, symmetrical, everything easy. Because it's not likely to be it can, but it's not likely to be. So don't you really want to focus your
405 01:10:53,640 --> 01:11:05,160 time in market environments that are likely to give you Gangbuster conditions, that means easy salad day trading. So it's really easy, and it's just like low
406 01:11:05,160 --> 01:11:11,700 hanging fruit, the setups is laid out in front of you. But easy placement of where a stop loss should be typical. And where it's likely to go is a draw on
407 01:11:11,700 --> 01:11:22,920 liquidity. That's what I teach my students. And guess what, folks, that is not an everyday condition. Just because we call it day trading, it is not every day
408 01:11:23,460 --> 01:11:38,280 trading. You have to grow comfortable with not needing to be doing something today. And you see these jokers, Twitter, Instagram, I see T says he doesn't
409 01:11:38,280 --> 01:11:48,000 trade on Mondays. Now I can trade on Mondays, I just like to wait and see what Monday does on certain weeks. But they take something I've said in a video or
410 01:11:48,030 --> 01:11:55,710 someone repeats, and then take it to the extreme, oh, he doesn't do this. So therefore he's stupid, or he doesn't work. And he hasn't had a profitable
411 01:11:55,710 --> 01:12:04,050 system. And he doesn't do this and doesn't do that. That's a full speaking, pretending to know something I have no idea what they're talking about. And
412 01:12:04,050 --> 01:12:16,620 again, ask them to show by contrast, crickets. So don't invite these other people, whether they're critical of me as your mentor, or you as a student who
413 01:12:16,620 --> 01:12:28,980 gives a shit. Who gives a shit? Who cares what any of these people think? Are you going to give this stranger who you will never meet? The power, the energy,
414 01:12:29,010 --> 01:12:43,650 the time of day, to even listen to their bullshit. Many of you it's like, it's like flypaper. And you land on it, and you can't get away from it, you'd love
415 01:12:43,650 --> 01:12:57,720 the drama. And you're always chasing that drama. Instead of pouring that energy and time into improving your craft. This is a skill set that you have to work
416 01:12:57,720 --> 01:13:08,460 at, you got to keep working at it. And you have to filter out all the bullshit, you got to take the negative stuff and keep it at bay, don't let it in. If I'm a
417 01:13:08,460 --> 01:13:09,810 fraud, you'll know it.
418 01:13:11,190 --> 01:13:20,370 If this stuff doesn't work, you're gonna know it. You don't need somebody else's opinion. You won't need that you're gonna come away with, wow, this shit really
419 01:13:20,370 --> 01:13:33,840 works or This is bullshit, it doesn't work. This doesn't even hold up. And on asking people that have a genuine sincere interest in themselves, not me. In
420 01:13:33,840 --> 01:13:46,770 themselves, test drive it laid in your hands for free. I tell you what you have to do? What is likely not to work for you. When not to do something. And if you
421 01:13:46,770 --> 01:13:56,520 operate with that in mind, you're still going to lose money. But you're gonna see that it works more times than it doesn't. So if it works more times than it
422 01:13:56,520 --> 01:14:08,340 doesn't. When does it work? That's the discovery you have to find because it's you bringing that into it. What what you're saying is, is your methods perfect.
423 01:14:09,000 --> 01:14:17,640 The algorithm is perfect. The interpretation that you or me are going to bring to the marketplace that given day or trading session. That's where the error
424 01:14:17,640 --> 01:14:28,380 comes in. The markets always right. We are the ones that are incorrect and we suffer the monetary loss when we are wrong. How hard is that to assume in terms
425 01:14:28,380 --> 01:14:37,020 of responsibility? It's something easy, but it's like telling a child you can't have that lollipop right now. You need to eat dinner first. You have to eat your
426 01:14:37,020 --> 01:14:46,770 vegetables. You can't have your pudding until you have your meat. Well, this is one of those lessons that's meat. It's not a milkshake and gumdrops, folks, but
427 01:14:46,770 --> 01:14:55,260 this is the stuff that you have to have. It fortifies you it makes you prepared indoor with this market in any market out there. you're ever going to trade it's
428 01:14:55,260 --> 01:15:07,350 going to give you nothing about you This could be two or three chapters on a book. And you wouldn't want to read these chapters, you'd be going to the parks
429 01:15:07,350 --> 01:15:17,850 that have charts and pictures of order blocks and fair value gaps and volume imbalances, and this season cities and all those good things. And all that stuff
430 01:15:17,880 --> 01:15:27,810 will still cause you to lose money, if you don't listen to things like this. Because you have to have boundaries, you have to have limitations. And
431 01:15:27,810 --> 01:15:41,700 limitations are not a bad thing. They're not. But you have to be told by someone that operates with them. That benefits from them. And then you have to test
432 01:15:41,700 --> 01:15:50,490 drive that to and it gives you a peace of mind, it gives you clarity, it gives you confidence, a confidence level that you can't really, I can't really
433 01:15:50,490 --> 01:15:58,830 articulate because you have to experience it to know, how do you know when not to treat treat a specific setup, even though it may look like there's an optimal
434 01:15:58,830 --> 01:16:05,700 trade entry, a fair value gap, a shift in market structure, it looks like there's relatively equal lows above or below the marketplace. How do you know
435 01:16:05,700 --> 01:16:15,150 not to take those trades? How is he able to not be a participant in those moves? Well, it's this, but I don't beat around the bush and lie and sugarcoat and say,
436 01:16:15,570 --> 01:16:24,990 I'm in every move out there. Because there's a lot of moves that I'm not a participant in, that were perfect. That just wasn't there to do them. Or I did
437 01:16:24,990 --> 01:16:33,330 it wrong. I was looking somewhere else. I paid attention to somebody else's opinion about something I go in and look at. It's why I don't like following
438 01:16:33,330 --> 01:16:41,340 anybody. It's not arrogance. And last last time I was on Twitter at people say, Oh, look at he's so arrogant. He doesn't follow anybody, what kind of mentors
439 01:16:41,340 --> 01:16:50,340 that he doesn't follow anybody? Well, I want a mentor that doesn't look for advice in the field that they're trying to be the mentor in. Because if I'm
440 01:16:50,340 --> 01:16:59,190 looking for advice, that means I don't have it together. I don't know what I'm doing. Now, I'm not saying that everything I do is in, you know, is perfect and
441 01:16:59,460 --> 01:17:08,460 free of imperfection. Because I'm not perfect. My trading results are not perfect, I have losing trades. I can do it wrong, just like anybody else. But
442 01:17:08,460 --> 01:17:16,470 that's the human element in me where I'm thinking outside of the rules I've placed in there. And every single time I do it, invariably, I regret it. But I
443 01:17:16,470 --> 01:17:24,240 don't want to follow anyone else. I don't want to be looking at what they're thinking, because in my mind, and this is gonna sound arrogant, but I want you
444 01:17:24,240 --> 01:17:35,160 to understand why I do it. If someone shares an idea with me on Twitter, number one, if you're if you're a student, what you're basically saying is, if he likes
445 01:17:35,160 --> 01:17:41,310 my post, about what I think is going to happen in the marketplace, he's really basically giving me a nod saying, that's the right way of doing it. And notice
446 01:17:41,310 --> 01:17:50,850 that you do that I don't ever do it. It's not because I don't see you, I see you. It's not because I'm trying to be rude or ignorant. I'm not going to cosign
447 01:17:50,850 --> 01:18:01,290 your trade, because what that's going to do is it's going to build this expectation that, okay, I'm going to rub the magic eight ball, I'm going to open
448 01:18:01,290 --> 01:18:10,740 up Twitter. And I'm going to shake my phone and rub it and ask it this ICT thing that this euro dollar trade is a goodbye, right here.
449 01:18:13,680 --> 01:18:24,300 Yes. If he comments and says otherwise, it's no, if he doesn't like it, it's no an approximate class to trade. Some of you are laughing right now, because you
450 01:18:24,300 --> 01:18:33,360 knew damn, well, that's what you're doing. And I'm not going to like your post. I'm not going to cosign your trade because guess what it becomes my trade. And
451 01:18:33,360 --> 01:18:43,500 if I can't make money off your trade, I don't want to be a part of it. So don't do those things. And you won't feel like I'm ignoring you. And you won't grow
452 01:18:43,950 --> 01:18:51,960 with this measure of expectancy, that I'm going to be the oracle that cosines the validity of your trade setup, because it's not going to happen like that. I
453 01:18:51,960 --> 01:19:02,550 don't do it for my private membership group. And I'm sure as hell not going to do it on Twitter. So I don't follow anyone. And I don't like when people pose
454 01:19:02,550 --> 01:19:11,550 their analysis to me about something that's unfolding. Because I'm immediately what I'm doing is this is what I'm really doing. When you do that. I'm going in
455 01:19:11,550 --> 01:19:22,890 to see what you're doing wrong. Not in the position to correct you because the market is going to correct you and you have to learn that way. It's impossible
456 01:19:22,890 --> 01:19:29,310 for me to field every single question that's ever sent to me by email or even on Twitter or my comment section into videos and says look, I missed too many of
457 01:19:29,310 --> 01:19:44,790 them. Can't keep up with it. But if I am posed a question with this is what I'm doing in trade right now. You know, what do you think about that? Or sometimes
458 01:19:44,790 --> 01:19:56,160 throw a comment in here like learn from the best ICT? Listen, I don't need that kind of stuff. I appreciate it. But I'm still not going to like your post. I'm
459 01:19:56,160 --> 01:20:05,370 not going to highfive it. I'm not going to do that because what I'm doing is good Then you that little nudge that you're not going to get when you're trading
460 01:20:05,370 --> 01:20:13,200 without me around. And that's going to be a day in the future. I don't know when, but it'll happen. And you're going to need to be able to trust yourself.
461 01:20:14,430 --> 01:20:23,310 That's the mentor I'm trying to be, I don't want you pushing me above everyone else, I don't want you worshiping Me, I don't want you call me a goat, or a
462 01:20:23,310 --> 01:20:32,130 king, or any of that crap. Be your own king. You want to be a goat, you'd like being goats and all that stuff, do you be a goat, I don't want to be a good, I
463 01:20:32,130 --> 01:20:46,170 want to be just ICT. And I'm a boring, middle aged guy. That is very, very content with being what I am. And I like being what I am. And I'm not going to
464 01:20:46,680 --> 01:20:58,500 be influenced to change who I am. And when someone sends me something like that, I go in looking for what they're doing wrong. And sometimes, that has caused me
465 01:20:58,500 --> 01:21:12,630 to go in and take trades. Some fading what you guys are sending me. Now you don't see those things, even when they are profitable. But that's what that's
466 01:21:12,630 --> 01:21:21,480 what goes on in my head. That's how I'm wired. When I see other people, and they show their YouTube channel reviews or whatever, maybe they've taken a trade,
467 01:21:21,810 --> 01:21:31,980 maybe that trade was profitable. I'm going in and comparing what I did that day. And I'm measuring myself against that, because that's a character flaw in me. So
468 01:21:31,980 --> 01:21:44,160 I had to keep that at bay. And I don't allow it in my teaching. Because if it comes out in my teaching, it's not going to give you any benefit. Because I
469 01:21:44,160 --> 01:21:54,000 struggle with it. Because I believe thing better than everyone else. That's That's my understanding. That's my belief. Okay. Whether anyone else subscribes
470 01:21:54,000 --> 01:22:00,120 to that view or not is irrelevant to me. Because I know I have. And I know what I see, I know what I've been able to work with, throughout the course of my
471 01:22:00,120 --> 01:22:14,640 entire life doing all this stuff. But that is also in a person's hands like mine who is obsessively compulsive, and a control freak. These are issues that I
472 01:22:14,640 --> 01:22:25,110 wrestle with. I'm not going to engage my students like that. Like when I was on baby pips, that was me just doing. But still teaching, it was a social
473 01:22:25,110 --> 01:22:35,700 experiment, I want to see, can I basically create the environment that created me, and nobody ever came out of it like buying. I don't have a student who
474 01:22:35,700 --> 01:22:48,810 doesn't, you know, transformed into a junior ICT. I don't have anything like that. I have a lady, woman to the brother. That is really amazing in trading.
475 01:22:49,230 --> 01:22:59,280 And she works with three different models. And I'm telling you, she is so humble and so modest. She and she's right now she's wishing I wouldn't even bring her
476 01:22:59,280 --> 01:22:59,640 out right now.
477 01:23:00,989 --> 01:23:11,069 But I'm just impressed. Like I'm impressed what she's been able to do. And she never wants to draw any attention to herself. She never goes out in social media
478 01:23:11,069 --> 01:23:22,559 and reps me. She never says anything. And she's extremely modest when she contacts me. So and this is a woman that trades with lots of real money. Okay,
479 01:23:23,039 --> 01:23:38,009 and how many of those types of students you hear me saying I have? Exactly. Most of my students are young guys that have came through. They wanted to do it easy.
480 01:23:38,129 --> 01:23:48,089 They wanted to have it real fast dollar menu, mentorship with Olympics results, gold medal results, because they want to go out and hurry out in social media
481 01:23:48,749 --> 01:23:58,769 and say, Look at me, I'm a beast. Look at me, I'm a goat. I'm this and I'm that look at me worship me. And that's why they're struggling. Not because this stuff
482 01:23:58,769 --> 01:24:06,029 doesn't work, because they're in a rush to be something they're not intended to be. And I am not creating that. That's not my intent of teaching, you know, all
483 01:24:06,029 --> 01:24:17,489 the things I'm teaching. I have a lot of profitable students that are quiet about what they're doing. Not many of them are like, the lady student I refer to
484 01:24:17,879 --> 01:24:30,689 she's, she's, she's cut from a different cloth. And frankly, she's, you know, this is a really amazing person. Not just in her trading, but just a really nice
485 01:24:31,079 --> 01:24:44,789 individual. You would you wouldn't find anything negative to say about this woman. She's very humble. She's very soft spoken. But if you saw you slow what
486 01:24:44,789 --> 01:24:55,169 you could do, oh, man, like, sometimes she's traded better than me. And I don't have any shame in saying that. Like, her entry sometimes was better than mine or
487 01:24:55,169 --> 01:25:06,749 exits were better than mine. And sometimes she traded in a market that I wasn't interested in And I'm flattered that she calls me, her mentor, I'm blessed and
488 01:25:06,749 --> 01:25:20,069 honored that that woman is so aware that what she's learned from came from me, but she doesn't elevate me. And that's exactly what I want from all my students.
489 01:25:20,489 --> 01:25:28,889 And I love champion her. I wish she'd give me permission, I wish she would give me permission. Because I'm telling you right now, I would have her plastered
490 01:25:28,949 --> 01:25:39,839 everywhere. And that's what I want my students to be my students like that. But she knows that's exactly what I intend to do. So she's telling me no, because
491 01:25:39,839 --> 01:25:52,739 she doesn't want that type of energy around her. But the man in me, the teacher, the guy, the testosterone junkie, okay, I want that. I want to be able to shove
492 01:25:52,739 --> 01:25:59,909 that right in the faces of everybody that says, You can't learn anything profitable. And from the men that think they're they're going to be the ones
493 01:25:59,909 --> 01:26:14,099 that rule everything. My best student is a woman. You hear a lady. And man, I'm telling you what, she's done phenomenally well, she's done very well with
494 01:26:14,099 --> 01:26:25,919 articulating what it is that works for her. Not everything resonated with her. But she's found her own way of doing it. And it's amazing to see it, the
495 01:26:25,919 --> 01:26:35,009 transformation was amazing. And there was nothing special about him when she first came to me, nothing that stood out as this was going to be the one that
496 01:26:35,009 --> 01:26:46,709 really stands out. Nothing. Because it was a soft spoken person. Just said, lots of questions. What I what do I do in this situation? How do I avoid this? I'm
497 01:26:46,709 --> 01:26:58,409 afraid of this? How do I conquer that fear. And it's everything I've taught on this YouTube channel. Think about that. All the things that was required for her
498 01:26:58,409 --> 01:27:16,469 to find her niche in this where I taught for free on this YouTube channel before 2020 to think about that. My best. My best came from what's freely available to
499 01:27:16,469 --> 01:27:26,279 you. And I see all these people out there. They're making little videos saying Oh, yes, in my opinion of ICT, don't tell me an opinion, until you show me that
500 01:27:26,279 --> 01:27:37,919 you traded with it. Because if you're not trading with it, then you didn't do enough work to trust it. Who has ever logic? See, you'd like to sit on here and
501 01:27:38,339 --> 01:27:43,439 critique other YouTubers, and you've never really done anything? When they placed themselves out there and said, Hey, look,
502 01:27:45,300 --> 01:27:54,270 this is how I do something, and you're welcome to try to test drive it and see if it works for you. That's all I do. And for those individuals that go out, and
503 01:27:54,270 --> 01:28:03,120 they watch a video or two, I really didn't do as to 2022 mentorship, but this is how I do things differently. I'd look at this way this is my spin on ICT. Don't
504 01:28:03,120 --> 01:28:10,410 even bring my name up. Don't even do that. That's clickbait, okay, usually what's going to happen this is my students gonna come in and rip your comments
505 01:28:10,410 --> 01:28:17,460 section apart. Okay, and which means that sounds like we're a cult, and it's not just these are young men and women that are very, very passionate about who
506 01:28:17,460 --> 01:28:24,150 they're learning from, because they know I'm passionate about them, will encourage you not to do those types of things. Because not, not only does it
507 01:28:24,150 --> 01:28:34,890 look ugly, it looks like I champion that stuff. I don't, I don't I don't want any my students that act like that. It's lessons like this, I want to hopefully
508 01:28:34,890 --> 01:28:44,430 ground you, give you the right perspective. Explain why certain things are beneficial for you, and how conditions and environments are going to be harmful
509 01:28:44,430 --> 01:28:57,210 to you psychologically, emotionally. And traditionally, it's the men, the young guys in here that get themselves in trouble, because they are thinking with an
510 01:28:57,210 --> 01:29:08,550 adversarial, like a gladiator, a person that want to go out there and you rattle sabers with the next guy out there. And sometimes it's because they feel like
511 01:29:08,550 --> 01:29:14,700 they gotta defend me or sometimes they just feel like they want to be a superhero. And they want to go out there and challenge the entire world. You are
512 01:29:14,700 --> 01:29:27,720 invited all the wrong kind of energy. Because here's some folks just like it was for me. When I was looking at baby pips. For almost like a year or so I was
513 01:29:27,750 --> 01:29:38,220 quietly just reading baby pips forms, and to listen to the stuff or really read the stuff that was being talked about on there. It's laughable, like, this stuff
514 01:29:38,910 --> 01:29:52,800 that was being promoted by people is garbage. It's literally trash. But there was people still working very diligently to try to make those things work, and
515 01:29:52,800 --> 01:30:00,690 they never were working. So I literally sat down and said, You know what I'm gonna do I'm gonna I'm gonna do something else that wasn't Got to do anymore,
516 01:30:02,070 --> 01:30:09,870 I'm gonna come out and make myself available to people, but I'm gonna have to get something out of this, I'm gonna have to do a social experiment and see if
517 01:30:09,870 --> 01:30:18,210 there is a way that I can kind of create the same atmosphere that I had when I came up. And I want to see if I can create that, like a laboratory experiment,
518 01:30:19,080 --> 01:30:28,770 give them just the right amount of information I had in the order I got it, and see if they were able to see what I was able to see. And again, not one person
519 01:30:28,770 --> 01:30:45,690 was able to do that. But I wanted to be the person to come out there and help other people. But I'm out with something, I have a chip on my shoulder. I was
520 01:30:45,690 --> 01:31:02,820 told not to do something. And remember what I said earlier in the video or this discussion. The science says they offline. Don't touch wetpaint. When I'm told
521 01:31:02,850 --> 01:31:14,730 I'm not supposed to do something, I'm going to look for 17 different ways to do it. That's just the way I'm wired. I'm not saying it's an admirable
522 01:31:14,790 --> 01:31:25,710 characteristic. It's many times the real reasons why I have anything negative in my life, because I feel like I have to do these types of things out really, some
523 01:31:25,710 --> 01:31:38,910 of you might look at this, oh, your attention seeking No, I'm thinking I gotta get off my chest. And I have it. I have it, where it's very easily disseminated
524 01:31:39,090 --> 01:31:56,880 in the world. But I'm told I can't do certain things. So I try the color outside the lines as much as I possibly can. And then I'm told, Don't do that. Don't do
525 01:31:56,880 --> 01:32:07,710 this. You better not do that. So I backpedal. And I look for different ways to go, again, a different approach a different strategy, but gets me very, very
526 01:32:07,710 --> 01:32:22,380 close to what I feel is an insatiable desire to share. And when I was teaching for free, I'm teaching for free right now want to go back to ever teaching for
527 01:32:22,380 --> 01:32:32,580 money. But I had so many people say, you know, he only wants to do this for money. Well, I prove that I can make millions of dollars teaching. And I proved
528 01:32:32,580 --> 01:32:40,650 that I can put that down because I don't need it. There's a number of individuals out there right now that are teaching, they don't really have a
529 01:32:40,650 --> 01:32:44,970 justification for collecting money, because what they teach doesn't work in the camper, they've done anything with it.
530 01:32:47,100 --> 01:32:59,400 They in this situation like I am in the I'm turning away that type of money. They would never even ever, ever entertain that. And why did I do that? Why did
531 01:32:59,400 --> 01:33:10,020 I go into the paid mentorship group because I know some of this stuff keeps popping up. When I was teaching for free on baby pips, and I was doing a lot
532 01:33:10,020 --> 01:33:18,480 like every day I was putting up something that I loved it. I was like, why are you spending so much time with these people? Like you're spending all that time?
533 01:33:19,320 --> 01:33:28,470 What are you getting out of it? I got a lot out of it. It was an event. It was an outlet for me to plug into and download everything. It's in my head. And I
534 01:33:28,470 --> 01:33:37,260 was really actively trying to see if there was going to be an industry out there that could come up like I did. I wanted to create that that Dr. Frankenstein
535 01:33:37,260 --> 01:33:45,870 scenario. And I was disappointed that it didn't materialize. Like I worked very hard with some individuals on an individual level. And they know who they are.
536 01:33:46,020 --> 01:33:55,470 And some of them actually turned out to be trolls. And that just goes to show that they had the issues not me because they were getting hand delivered things
537 01:33:55,500 --> 01:34:06,450 out above what I was teaching on baby pips in a YouTube channel early on. But I didn't go in with the intent of building an audience to sell. I didn't because I
538 01:34:06,450 --> 01:34:14,040 could have done that right from Jump Street. I had a million views on my threads. Nobody ever had that many of us on baby pips and it's not bragging
539 01:34:14,040 --> 01:34:22,620 folks, I'm just telling you to think about, I had the framework to go right into business that I wanted to. But we went to Ocean City one summer, and I was in
540 01:34:22,620 --> 01:34:34,770 2016, actually. And I came back and I had all these emails from people saying, there's a Middle Eastern guy in a company that's taking your free YouTube videos
541 01:34:35,670 --> 01:34:47,730 and selling them. And I'm like, what? And I just kept reading all these emails. It was like, everybody discovered that this was going on, and I honestly I ain't
542 01:34:47,730 --> 01:34:58,050 gonna not gonna sugarcoat it. I was fucking pissed off. I got pissed off. It lit a fire under my ass like you son of a bitch. Watch this. You want to do
543 01:34:58,050 --> 01:35:07,020 something like that? Okay, no problem. instantly, I told my wife, I said, I'm about to do something, that's probably going to change a lot of people's opinion
544 01:35:07,020 --> 01:35:19,800 about me. But I don't do this, I'm gonna lose my mind. So I went right to Twitter, I said, I'm not going to teach anything ever again, for free, even
545 01:35:19,800 --> 01:35:35,370 selling my stuff, if anybody's want to collect money on it, I am. And I put the PayPal link up in 24 hours at 80,000 hours, 24 hours i $80,000. And it just came
546 01:35:35,370 --> 01:35:49,350 in wave after wave after wave after wave. Now when my wife saw that, she was like, wow, this is without any advertising at all. I was like, Yeah, it's crazy.
547 01:35:49,890 --> 01:36:00,960 I never advertised. And I got all kinds of threats. And I knew I was ready to read my target. Because why are they gonna buy anything from anybody else? When
548 01:36:00,960 --> 01:36:10,500 the real McCoy is doing it. And that's how I grew. It was not by any fraud, everything I've done, I've done in front of people, I've said, this is where the
549 01:36:10,500 --> 01:36:17,040 markets gonna go, this is what's going to do this is why should work. And this is why people were in my mentorship and stayed, the ones that couldn't do it
550 01:36:17,040 --> 01:36:24,180 couldn't afford it, or they found someone leaking it and selling it to him for cheaper. And that's the reality of it, folks. And no matter what I do, someone's
551 01:36:24,180 --> 01:36:31,770 gonna be out there trying to twist it and make a way for them to make money with it. That wouldn't be an agreement with me. It's like anything, pay per view
552 01:36:31,770 --> 01:36:42,900 events, they, they, they make their little channels on, it used to be like Periscope, and I can't think of other thing that you don't talk about when
553 01:36:42,900 --> 01:36:51,390 people, they can't afford to pay the live event, like it's a boxing event or something like that. Somebody will put it up there and say, Hey, this took me
554 01:36:51,390 --> 01:36:58,020 five bucks, and you can watch it from my stream. That doesn't matter. I mean, that's always gonna go on, I'm not going to be the exception to that. And if I'm
555 01:36:58,020 --> 01:37:08,550 a hot commodity, which in trading forex and such, I am, and I'm not beating my chest, but I did this with the intent of doing it for free forever. But I got
556 01:37:09,030 --> 01:37:20,760 pissed off. I did it. And then I said, Well, you know, I'm not going to advertise. And I did say I'm going to do it, and close it. And then I had all
557 01:37:20,760 --> 01:37:26,820 these other people saying it's join us join us join, I want to join, you didn't give me an opportunity. And for a few years, it just
558 01:37:28,079 --> 01:37:37,439 I felt bad. So I opened it up. And I finally said this is it because it's become it's become too many people. I cannot I cannot imagine having any more people
559 01:37:37,469 --> 01:37:44,789 than I already have. It's next to impossible to manage. And I'm gonna tell you the truth. This is the this is the truth, folks. Okay, and listen to me. This is
560 01:37:44,789 --> 01:37:53,669 why you can trust I am never ever, ever, ever, ever, ever, ever, ever, ever, ever. Putting that PayPal link out there and saying join my mentorship again,
561 01:37:54,179 --> 01:38:04,829 because I can't give the level of service on an individual basis like some of my students already wanting they expect in knew damn well, they would never be able
562 01:38:04,829 --> 01:38:13,259 to get that from me. You can't nobody has enough time in the day to be able to do that. Let's just say you had 500 students and I have shit tons more than
563 01:38:13,259 --> 01:38:27,689 that. The say at 500 students. And all of them are emailing you two or three way. And believe me, that's low end. How much time do you have in a day? Doing
564 01:38:27,689 --> 01:38:37,319 everything else you do as a husband or wife, father than employee? Because most of you probably have a job or if you have a business? Or if you're in school?
565 01:38:37,619 --> 01:38:47,879 How much time? Do you have to sit down and just 1500 replies, now you're not just right away, giving them reply, you got to listen to them, you got to read
566 01:38:47,879 --> 01:38:56,819 it, you got to figure out where they're coming from, in an articulate a manner, response to them that is going to be meaningful and useful to them. Now, do that
567 01:38:57,059 --> 01:39:10,109 with hundreds of 1000s of people. Think about that. Do you know anybody? It could easily sit down and say, Yeah, that's accomplished with this, that other
568 01:39:10,109 --> 01:39:19,889 thing. I could do that. I could have a team of people. And it still wouldn't help me because the brain trust is me. I can't I can't give the responsibility
569 01:39:19,889 --> 01:39:28,469 to answering their questions to someone else. So I can tell you this, this is the reality of it all. They are part of a community that I outline beforehand
570 01:39:28,469 --> 01:39:38,159 where I think the markets gonna go. That's the only benefit that they have. You cannot join that in the YouTube on the mentorship stuff that I'm doing on
571 01:39:38,159 --> 01:39:49,139 YouTube, that's for free. I'm teaching you what it is that I used to give them that insight. They have already been taught that. But the advantages, I'm
572 01:39:49,139 --> 01:40:00,119 cosigning before it happens. I tell them where it's going. Now a lot of you want that, but I'm telling you, you don't need it. You don't need that. There So a
573 01:40:00,119 --> 01:40:08,279 lot of people that wishes they didn't join my paid mentorship and knew I was going to do what I was doing right now. Because they wouldn't have spent the
574 01:40:08,279 --> 01:40:15,389 money. And it would be a lot easier for them to be lazy. And say, well, at least I didn't pay for it. And I can just do it whenever I want to, and they're on
575 01:40:15,389 --> 01:40:27,239 YouTube. You're not going to hear mentor talk like that about their own service. But I'm honest. But I'm also that same mentor, that could easily come in there
576 01:40:28,319 --> 01:40:40,679 and start making millions of dollars every single month. Yeah, month. And I don't want it. I don't need it. And it doesn't motivate me. What motivates me is
577 01:40:40,679 --> 01:40:51,419 the people that are still listening, you that didn't turn off, because you want to listen, and learn. Because you know, there's something different about me, I
578 01:40:51,419 --> 01:41:04,529 love what I'm doing. I'm not getting paid to do this. There's no ads playing. There's no pop up saying, skip this video in five seconds. I love this. I love
579 01:41:04,529 --> 01:41:17,249 doing it. I care about your results. And I know I'm never going to meet you. But I know that the students that are really resonating with what I'm doing, your
580 01:41:17,249 --> 01:41:26,759 life is going to change in a way that you can't even imagine. And it's not just going to be for trading. It's going to give yourself control over yourself, it's
581 01:41:26,759 --> 01:41:34,919 going to give you a means of focusing on a task and seeing it through sticking to it and understanding there's going to be hard, there's going to be problems
582 01:41:34,919 --> 01:41:48,539 that come up unexpected twists of events, that doesn't really help the cause that you're trying to go after. But you endure it and you grow from it. And when
583 01:41:48,539 --> 01:41:55,469 things do happen outside of what your expectations were, you don't go in with a negative mindset of beat yourself up with that, oh, wish I would have done this,
584 01:41:55,619 --> 01:42:05,339 oh, I wish I would have done that. Oh, I wish this wouldn't have happened to me. It's this is what happened. What can I take away from that for learning
585 01:42:05,339 --> 01:42:17,099 experience and how to prevent and mitigate it from ever occurring to this level again. That is how you live, that's life. Life is not promising you ease. And
586 01:42:17,099 --> 01:42:23,369 just because you're learning from me, I'm not promising you, you're going to have profitability that's going to come to you easily. There are some of you
587 01:42:23,369 --> 01:42:27,629 that right now feel strongly about what you're learning, and yet you still will fail.
588 01:42:29,760 --> 01:42:38,250 And I'm not going to pull that punch. I'm not trying to sell you the books. I'm not trying to sell you a future mentorship, and that chance to sell you a
589 01:42:38,250 --> 01:42:48,660 subscription on my YouTube channel. And I don't care if you follow me here. I'm being honest with you. But those same individuals that would encounter that
590 01:42:48,960 --> 01:42:59,130 failure, you can change that too. But you have to put work into it. And you have to put the work that nobody wants to talk about in their courses. They just want
591 01:42:59,130 --> 01:43:10,680 you believe in their bullshit, subscribing to their worship session. And you have to be your own cheerleader. So if you want to worship somebody and
592 01:43:10,680 --> 01:43:18,510 cheerlead on somebody and raise somebody's name up, do it when you feel like you need it. And guess what? There's nothing wrong with that, folks. You got to
593 01:43:18,510 --> 01:43:27,930 preach to yourself, sometimes you gotta say, You know what? Is is hard. And guess what? If it was easy, everybody else will be doing it. But I deserve this.
594 01:43:28,200 --> 01:43:34,980 I'm working towards this, it ain't gonna be gifted to me, it ain't gonna just fall into my lap. I'm earning this so nobody can talk bad about what I'm doing.
595 01:43:35,160 --> 01:43:43,260 I'm working towards it. Just like a college degree like a master's degree. Like a doctorate you're going to be. I don't know what you're trying to be in. Some
596 01:43:43,260 --> 01:43:59,130 of you are in school. That's admirable. The tenacity that's required to stick with that is admirable. But in this, it's got to be even more than that. See in
597 01:43:59,130 --> 01:44:12,150 this, it's not just tuition and trying to get the passing grade. It's survival here. And when you don't survive, it weighs heavily. It's not like, I'll go to
598 01:44:12,150 --> 01:44:19,230 college, I went to college, I went the things I'm supposed to do to become a systems analyst in computer programming. And I did all that. I had really high
599 01:44:19,230 --> 01:44:30,960 math, really high science. And I was advanced as a child because I was pouring myself into these things before school would ever consider it a sixth grade, I
600 01:44:30,960 --> 01:44:46,710 was making my own video games with basic human language. I stayed after school, and stayed in my math teacher's classroom to work on coding. Because I wanted to
601 01:44:46,710 --> 01:44:58,170 be better than everybody else. And nobody else wanted to do what I was doing in class. But I wanted to be on computers, every opportunity I could. And I cut
602 01:44:58,170 --> 01:45:08,070 grass. I save that money. And I got my own personal computer. And that's what I was doing when everybody else was playing football, and playing baseball, and
603 01:45:08,070 --> 01:45:17,790 doing soccer and all the other stuff that normal kids would do. I was in there coding. I didn't know what the what the markets them. But that's where I was.
604 01:45:18,660 --> 01:45:28,560 That's happening. So I've been different. And I'm a mentor to could meet Nixon mil can be making millions of dollars every single month, doing what I've been
605 01:45:28,560 --> 01:45:41,490 doing for six years. And I want you to just take it, take a step back and listen. Who else would do that? I'm not trying to virtue signal. I'm not trying
606 01:45:41,490 --> 01:45:50,310 to say, Look at me, I'm the goat because I'm doing it. I want you to understand what my motivations are. And don't lose sight of what I've been telling
607 01:45:50,310 --> 01:46:00,390 everybody. Shit is about to get really hard. And I don't feel comfortable. saying you know what, you're gonna need to make more money and different ways of
608 01:46:00,390 --> 01:46:11,850 making money. It's gonna get hard. Here, pay me and I'll teach you how to do that. That's disingenuous. But because I'm willing to do that doesn't entitle
609 01:46:11,850 --> 01:46:24,210 you to the same level of analysis that my private group gets. The beforehand. They earned that because they trusted me and they paid for it, frankly. Here, I
610 01:46:24,210 --> 01:46:32,850 do way above what would be reasonable and expected in terms of free education. And I love doing works. Look around, there's people that are doing all these
611 01:46:32,850 --> 01:46:42,540 things that are now making money. They're not solicited, I don't pay these people to do that. I don't have any affiliate relationship with any of these
612 01:46:42,540 --> 01:46:48,060 funded accounts. And believe me, they'll tell you if you ask them, because some of them reach out to me all the time. Hey, can you know I'm not? I'm not
613 01:46:48,060 --> 01:46:59,340 repping? Any of you? To sit back, my students will probably be using your service and then they can rep you. What other mentor? Let me say it this way,
614 01:46:59,340 --> 01:47:10,650 because they're the careful. What other concepts do you see all these funded account? People getting their accounts and then getting withdrawals? What other
615 01:47:10,650 --> 01:47:12,750 concepts do you see outside of mine?
616 01:47:15,659 --> 01:47:24,419 They may have their own little twist of their name and what they're teaching my stuff. But they're learning what I have authored. Now, I don't like how they did
617 01:47:24,419 --> 01:47:34,949 it. But the students have done well. I'm happy for the people that are trying to get credit for themselves. Like they learned it on their own. They're the ones I
618 01:47:34,949 --> 01:47:42,749 have an issue with, because they're doing all the wrong ways. And I understand they're trying to kind of they have a hustle. But their hustle, their hustle is
619 01:47:42,989 --> 01:47:50,249 really flawed. Because they're really not going to have the credit. Once people wake up to who they are and what they're doing. They'll start smacking around
620 01:47:50,249 --> 01:47:58,439 and they don't care. They want that fast money right now. But the people that are learning what it is that I've released into the world, that stuff that's
621 01:47:58,439 --> 01:48:11,429 making them real money. You can argue against that. There's a lot of people out there teaching all kinds of stuff. But where's the proof that this stuff works?
622 01:48:12,599 --> 01:48:20,369 That was the proof I've always wanted. I wanted that proof. I want to be that mentor. I don't want to be the person that says Oh, no, you know, I make lots of
623 01:48:20,369 --> 01:48:31,169 money. Because I've taught No, I am the mentor you want to have because I'm not going to lie to you about happy for you, all of you. But I'm also the mentor
624 01:48:31,169 --> 01:48:43,649 that's going to be able to say I could be getting rich off of you. But I don't want to in my eyes coming up the way I did. That's the person I would have
625 01:48:43,649 --> 01:48:53,579 latched on to. That's the person I would say you know what? I may not agree with everything they say, I may not agree with their delivery method. He may not say
626 01:48:54,359 --> 01:49:05,879 the things I want to hear. But I know what he's saying is impactful. He endured something he'd learned from that. So I might not feel that it's applicable right
627 01:49:05,879 --> 01:49:12,719 now in my own development. But I know it's noteworthy because he is talking about it. And now I'm talking about a lot longer than I wanted to when I first
628 01:49:12,719 --> 01:49:24,179 sat down with this space. If you were here with me one on one, like I was doing in the 90s this is exactly what majority of the time was going to be like, This
629 01:49:24,179 --> 01:49:35,879 is not one of those individuals ever sat up and said, You know what? I gotta go. This was a waste. This was the things that they leaned on afterwards, when they
630 01:49:35,879 --> 01:49:44,699 started engaging, pushing a button. These are the things they said you know what that conversation we had about this or that conversation, that session we had
631 01:49:44,699 --> 01:49:52,319 about that. That really came to fruition and resonated with me today because I leaned on that logically as I needed it. And I can't imagine how it would have
632 01:49:52,319 --> 01:50:06,119 been able to endure had it not took place and I was a participant in that conversation. See, I'm talking to my children right now. You just had the
633 01:50:06,119 --> 01:50:18,539 benefit of thinking, I'm talking to you, My children, that's what this message is for. So when I talk to them, I absolutely love them enough, the poor
634 01:50:18,539 --> 01:50:30,899 everything I have, about knowing what they should and shouldn't do. And that's why it's genuine to you. Because it's meant to be genuine. It's real. I'm doing
635 01:50:30,899 --> 01:50:44,129 this out of love. But you have the benefit of being permitted to listen to it. That's why I'm different. That's why when you listen to me, I sound sincere,
636 01:50:44,159 --> 01:50:54,449 because I am. My audience is my children. All those videos I made on YouTube, all the videos I made in mentorship. They're not for you. They're for them. And
637 01:50:54,449 --> 01:51:03,539 I say it multiple times throughout the years, I've been doing it. But that's why it feels like I'm talking to you. And it feels like we have a relationship like
638 01:51:03,539 --> 01:51:13,469 that. Because you are coming to me with an expectation. You want to be taught, and you want me to care about your results I do. As a student, I want you to do
639 01:51:13,469 --> 01:51:25,979 very, very well. But have in mind also, that when I'm speaking, I have my children's faces in mind. I'm talking sometimes to one specific child about
640 01:51:25,979 --> 01:51:33,689 certain things that they're wrestling with, or I know they're about to wrestle with money, I'm going after that, in our in our conversation, I'm gonna finally
641 01:51:33,689 --> 01:51:47,429 get a conversation about the job earning session like this. So I understand the unique position I'm in. I'm not oblivious to how some of you can take that out
642 01:51:47,429 --> 01:51:59,789 of context and lift me up as a hero or look at me as someone that's not worth having the attention placed on. I don't care either way. I don't like when I'm
643 01:51:59,789 --> 01:52:13,829 worshipped. But I don't care when people disagree with what I say, I don't think I teach appropriate things. But you have to know where are your boundaries? I
644 01:52:13,829 --> 01:52:17,399 know where mine are. The you know where yours are.
645 01:52:19,260 --> 01:52:30,210 I know that this morning wasn't going to give me the conditions that would be the ideal model conditions. I'll leave it up to you to discern whether or not it
646 01:52:30,210 --> 01:52:41,700 was offering very clean, symmetrical price action. Sure markets gyrated around, it's moved around on all kinds of things. But has it done with this model calls
647 01:52:41,700 --> 01:52:55,740 for? No. Should you be upset about that? Some students would be ICT, you said this repeats every day. It repeats every day in some asset. It's there every
648 01:52:55,740 --> 01:53:05,130 single day. But your market might not be the market that creates this setup it and you have to know that. It's fine. It'll come when it's supposed to. But
649 01:53:05,130 --> 01:53:17,790 here's the wonderful thing. I didn't fall victim to anything today, because I have a rule. After bank holidays, I watch observe. Is the market still booking
650 01:53:17,790 --> 01:53:31,740 price in the manner I would expect? dollar went higher. So does the s&p sell off? Not so much after it ran up initially? Yeah. But it has yet to take out
651 01:53:31,740 --> 01:53:48,240 that 3740 level. That's my interest. That's the level I'm interested in this week. How is that useful? Well, if I don't have a setup, come Wednesday, seven
652 01:53:48,240 --> 01:53:58,740 o'clock in the morning, I have to pull all interest in taking entries. That's how I operate. Doesn't mean it won't pan out. Like it won't deliver on Thursday
653 01:53:58,740 --> 01:54:07,230 or lately, maybe even Wednesday afternoon. That will be a missed opportunity for me. I'm okay with it. You're probably not going to have that comfort or
654 01:54:07,620 --> 01:54:15,690 willingness to say okay, I missed that move. You'll probably go crazy because it went down to 3740. On a level that was obvious it was framework was there. But
655 01:54:15,690 --> 01:54:24,750 that's not a trade I would take because outside the rules that I've placed on myself for this particular week, Non Farm Payroll week. Why do I operate like
656 01:54:24,750 --> 01:54:33,690 this? Because Thursday and going into Friday, Non Farm Payroll release 830 the market can be very choppy, aimless, and just do things that are uncharacteristic
657 01:54:33,690 --> 01:54:42,150 to what it is I'm looking for in price action. So if I know that these climates in the economic calendar for that particular week, every single month are likely
658 01:54:42,150 --> 01:54:53,850 to bring those adversities why would I want to risk money in that? When I know there's times when it's not like that? And I'm looking for those instances where
659 01:54:54,330 --> 01:55:05,520 the markets almost inviting me. Hey, look, I'm going to do that thing you're used to saying Come over here and get this versus what the hell's going on? Why
660 01:55:05,520 --> 01:55:16,590 is it doing that when I should be doing this, I'm gonna arm wrestle you. That was 20 year old ICT it was an invitation to go out into the arena, bring my
661 01:55:16,620 --> 01:55:25,860 sword, leave my shield. Because I was better than the average bear, I don't need to worry about defending myself, it was just get out there and buy it and expect
662 01:55:25,860 --> 01:55:41,790 limited moves and Blue Ribbon results. And I was the one being carried out on a stretcher. Every single time I was like that, that's what was the result. So you
663 01:55:41,790 --> 01:55:51,210 either live long enough to learn the lessons and be better because of it, or it takes you out of the game entirely. And I was fortunate enough to not ever want
664 01:55:51,210 --> 01:56:01,680 to lose my passion for this. And even though I had early on adversities that would have otherwise took the average person out of this interest, completely
665 01:56:01,680 --> 01:56:10,020 remove it, I still wouldn't let go. And I think that's the reason why the Lord gave me obsessive compulsive. Because if I didn't have that, I don't think I
666 01:56:10,020 --> 01:56:19,830 would have stayed in this. Like it would have been too painful for me to endure all the times where I lost my accounts, even doing it to myself, as a 20 year
667 01:56:19,830 --> 01:56:30,600 old, I would have never had the wherewithal to stay with it, I would have given up way earlier than the dozens of times I said I was going to quit but really
668 01:56:30,600 --> 01:56:42,360 was just me saving up money that could another account started. So there's a lot of lessons that you know, an experienced individual can give you but they're
669 01:56:42,360 --> 01:56:51,090 going to be in the flavor that isn't going to be the most palatable when you're young or new. Because you feel like they're not going to be useful to you until
670 01:56:51,090 --> 01:56:57,780 you start losing money. And then you're gonna want to know the answers to those questions that are very pressing at that time. How do I stop the hemorrhaging?
671 01:56:58,650 --> 01:57:08,430 How do I stop myself from doing this to myself? See, many of you have never even traded outside of a demo yet. You don't even know what that feels like yet. Your
672 01:57:08,430 --> 01:57:18,600 first trade is going to be full of heart palpitations, your palms are going to be sweating. And it doesn't matter how little risk you're putting on. It's real
673 01:57:18,600 --> 01:57:18,960 now.
674 01:57:20,279 --> 01:57:31,529 It's a report card that none of you want to get the results for. You scared? What if your first trade is a losing trade? How embarrassing would that
675 01:57:31,530 --> 01:57:44,970 be? Every single time I've ever opened up an account since I was 27 years old. I purposely throw the first trade to do something, just to put it on there. And I
676 01:57:44,970 --> 01:57:56,430 close it after it puts a loss. And I do that, you know I do that. It cancels out the necessity for me to be perfect. I'm sure that sounds silly in some of your
677 01:57:56,430 --> 01:58:07,950 ears, it's why would you want to do that. Because that's something I have to do. Or I will wrestle with perfection. So if I start a new account, so I open up
678 01:58:07,950 --> 01:58:15,990 with a broker open up and all of a sudden boom, you know, I'm ready to go there, I'm starting to trade, the first thing I do is throw one trade. I just toss it
679 01:58:15,990 --> 01:58:27,840 in. And that completely discharges my ego, it completely discharges my expectation on myself. And it frees me up to just focus on what it is I'm doing
680 01:58:27,840 --> 01:58:40,170 it for naught. I can't have a losing first trade. I mean, worry about I make it the first trade, losing trade. There it is done. I have mastered my ego. By
681 01:58:40,170 --> 01:58:54,390 doing that very one thing. Whenever Whenever I start a new month, I do the same thing. Why it's a rule for me. And I'm not saying I'm losing 1000s and 1000s of
682 01:58:54,390 --> 01:59:08,460 dollars. But I am taking a loss. And it's something I want to do. Because it sets me up in the right mindset that perfection is unrealistic. So if I can take
683 01:59:08,460 --> 01:59:16,920 that loss, knowing I'm going into it, taking that losing trade, guess what that's doing. It's reminding me that this business is all about managing losing
684 01:59:16,920 --> 01:59:24,960 trades, because every single trade is a losing trade until you close it in profit. When you open up a trade, you're under spread, you're underneath the
685 01:59:24,960 --> 01:59:35,070 Commission's you got to come out of that you have to trade your way out of every trade, because they're all losing trades. Very, very rarely do you ever get in a
686 01:59:35,070 --> 01:59:44,220 trade right away from entry to no drawdown whatsoever they happen. But largely majority of them are going to be you got to overcome some kind of initial under
687 01:59:44,220 --> 01:59:53,400 the water type threshold, whether it be caused by commission or spread or initial draw down from the entry. So one of the most freeing things I could have
688 01:59:53,400 --> 02:00:02,820 done for myself as a young man was the myself permission to do that very thing. And I got the idea from George and Joe, which is also the guy that taught me
689 02:00:03,240 --> 02:00:12,330 that if I don't have a real good feel for the marketplace, but I know that the market is going to be moving. And I'm just a little unsure about my bias, or I
690 02:00:12,330 --> 02:00:19,200 don't have a bias, but I'm expecting a lot about till the Fed day, because the reports coming out something to that effect, I will just put on a small
691 02:00:19,200 --> 02:00:28,200 position, I'll just toss something in the water and see how I react to that. If I put a short one, for instance, and back then the 90s is to say I went in and I
692 02:00:28,470 --> 02:00:38,430 put two contracts short. Okay, I'm watching the sea, how do I feel in that trade? Do I feel confident it's going to move in my favor, or my starting to
693 02:00:38,430 --> 02:00:47,430 feel like it's gonna go against me and widen the loss? And that immediately gets me alignment with the marketplace? Some of you would never even think to do
694 02:00:47,430 --> 02:00:57,750 that, because you think that's wasted money? No, no, no, I'm just paying a premium for Intel. When I first read that, in his books, I was like, the hell is
695 02:00:57,750 --> 02:01:05,910 this guy smokin, you're telling me, You're putting real money in the markets, knowing that you don't know what the hell you're doing. And you're just going to
696 02:01:05,940 --> 02:01:16,860 get a feel for what's going on. Look, I can do that by watching price. You can't, you cannot, it's not the same, you have a perspective that is much more
697 02:01:16,860 --> 02:01:27,600 meaningful, when you put something on the line. And for instance, I you trade in forex, put in the smallest leverage your broker will point you to do. And see
698 02:01:27,600 --> 02:01:40,170 how much insight it gives you stop thinking about that MT four, screenshot being blue only? It doesn't matter. If you have a little bit of red in there. What
699 02:01:40,170 --> 02:01:51,240 matters is are you hemorrhaging money when you're losing it? Or are they controlled losses? Are those losses inside the boundaries that you've outlined
700 02:01:51,360 --> 02:02:04,170 for them? You have to have boundaries. In every asset and facet of trading, the way you engage the way you think, while you're doing something, while you're not
701 02:02:04,170 --> 02:02:13,470 going to be doing something, what prevents you from engaging a certain way or certain time of the day or calendar week. And when you have those rules, stick
702 02:02:13,530 --> 02:02:23,040 to them. It doesn't matter what anybody else thinks about them, who have to adhere to them. When you're driving your car, how often you to go over the other
703 02:02:23,040 --> 02:02:31,530 side of the road. Make it a practice to build on time, right? Hopefully? How about drinking and driving? Do you make it a practice to get up every morning to
704 02:02:31,530 --> 02:02:34,290 have to go to work and drive to work? Hopefully not?
705 02:02:37,319 --> 02:02:44,819 Speeding, I'm guilty of this one. So I'm going to be real careful how I say this one to how many times you want to go over the speed of 100 mile an hour.
706 02:02:46,889 --> 02:03:00,239 Probably not very often. But I can tell you, it's on occasion happened. But I'm being honest, folks, those rules are there for our protection and everyone
707 02:03:00,239 --> 02:03:08,669 else's protection. But your broker is not there to protect you. I'm not going to be there to save you, your spouse isn't going to help you, your children aren't
708 02:03:08,669 --> 02:03:19,379 going to certainly do anything to get you out of that situation. And those people in that chat room that you think are your friends, they don't give a shit
709 02:03:19,649 --> 02:03:30,479 about you or your results. They don't care. They don't care folks. They're in there to get a withdrawal from all of you around them. They're not in there
710 02:03:30,479 --> 02:03:41,429 depositing anything good. They're in there to fluff themselves up or to cope. They're in here to get a dose of opium because they're losing. And they want to
711 02:03:41,429 --> 02:03:48,599 be around other people that they can see are losing to and they can talk down to you. Even if it sounds like they're doing something admirable and saying oh,
712 02:03:48,599 --> 02:03:56,849 don't worry, stick to it, stick to it, you'll be you'll do you'll do better. Meanwhile, they're blown out their account. There between accounts, they don't
713 02:03:56,849 --> 02:04:04,589 have money to back in an account. But they're giving you advice, know what they're doing. And you might feel this person is really nice. He talks to me or
714 02:04:04,589 --> 02:04:13,289 she talks to me encourages me, this person is probably a losing trader. That's why I got rooms. That's why I don't like discord rooms. That's why I don't like
715 02:04:13,289 --> 02:04:25,049 all those types of things because they feed negatively, it doesn't give you a benefit of being there. Now, there are times where there are individuals that
716 02:04:25,049 --> 02:04:33,749 are genuinely interested in helping other people. And they're showing their prowess they're calling a move, they outline a move, they explain what's going
717 02:04:33,749 --> 02:04:43,769 on why it should take place. If you're in an environment where it's like that, and you don't have the opinions of others also, like if it's a free for all
718 02:04:43,769 --> 02:04:53,699 everybody can talk, then I think that's a bad place for you to be. But if you're amongst someone that has a skill set that they're showcasing and they're walking
719 02:04:53,699 --> 02:05:03,269 you through the marketplace in their proving prowess, then that's not a wasted environment, that's something that could be beneficial to you. But
720 02:05:03,269 --> 02:05:15,329 unfortunately, there isn't a whole lot of that going on. And they do exist. But largely, it's not like that. Usually, it's some kind of a forum where everybody
721 02:05:15,329 --> 02:05:25,169 can chit chat. And I know when you're new, this is what I thought too. I'm gonna say this, I'm gonna close this session, when I was on America Online, I would
722 02:05:25,169 --> 02:05:41,369 join so many message boards and forums online, because I was looking for that person that I am today. And I never found them. So I couldn't find them. So I
723 02:05:41,369 --> 02:05:51,899 became the person I was looking for. When you join these chat rooms, you're thinking that someone's going to be very nice and help you out. And they're
724 02:05:51,899 --> 02:06:00,809 going to do it out the kindness of their heart. And I never found that to be true. I got the same regurgitate crap, advice, that in all the books I'll waste
725 02:06:00,809 --> 02:06:18,749 the money on. I stopped buying books 2016 Books. I never ever, ever bought another financial book. After that one. That was it done. The books that I say
726 02:06:18,779 --> 02:06:28,739 that are beneficial, I put on a video on my YouTube channel. That's it. They're the only ones and I have just about every book you're going to ever come up
727 02:06:28,739 --> 02:06:41,159 with, until unless it was released after 2016. I probably have it. And I've read some of them multiple times. And most mostly it's because it's sentimental
728 02:06:41,159 --> 02:06:55,289 value, that I went through that crap. But if someone's stolen from me, I wouldn't care. What I buy the books that I mentioned on my YouTube channel,
729 02:06:55,289 --> 02:07:05,969 again, if my books were stolen, yes, I think they're valuable. I think there's useful information in them. There is no book out there, that's going to give you
730 02:07:05,999 --> 02:07:17,669 everything. There isn't an author update, it's gonna give you all the pieces. And I try to teach with that mindset, I try to cover everything. And a lot of
731 02:07:17,669 --> 02:07:28,589 that is going to be the things that you don't feel are valuable right now. Managing losing trades, how to avoid market trading environments that aren't
732 02:07:28,619 --> 02:07:36,179 going to be favorable. Because you're wired to think what? Go go go Lee, push the button, push the button, push the button.
733 02:07:37,890 --> 02:07:48,510 Well, I believe I'm better than the average bear. But if I go in every single day one, just simply push the button, I'm not going to have the results that I
734 02:07:48,510 --> 02:07:59,280 want. And that would otherwise be expected of someone in my position. So hopefully, in the closing this Twitter space, you can see why I will be talking
735 02:07:59,280 --> 02:08:06,510 about these types of things. Because it's important for you to know where your limitations should be. Why it's beneficial for you to not want to do something
736 02:08:06,510 --> 02:08:17,130 every single day. Because it's more profitable to do that. If you can avoid the times when you're likely to have adverse results, you are ahead of the game. And
737 02:08:17,130 --> 02:08:29,910 I mean, across the board, because everybody has a way of making money. You can make money with Elliott Wave, you can make money with supply and demand. You can
738 02:08:29,910 --> 02:08:41,370 make money with black box garbage. Okay, sharp patterns and that patterns and all this other nonsense. There's always a gimmick that you can use to justify
739 02:08:41,370 --> 02:09:04,170 why you made money. But nobody has a system where it says, avoid this. Our daily life has all of that. One way, don't enter. Wrong way. Speed limit. Here's the
740 02:09:04,170 --> 02:09:17,010 yellow line don't cross it. If it's dashed, you can cross it. But if it's double sided line, don't cross it. No U turns here. Are you cussing at every sign? You
741 02:09:17,010 --> 02:09:25,170 probably do when you need to make a U turn. Or if you're in a hurry, and you know that signs this suggesting that's probably the safest speed to go into. But
742 02:09:25,170 --> 02:09:32,580 you're not worried about that because you're late for work. Because you didn't do something beforehand. You stayed up too late. You call it outside the lines.
743 02:09:32,970 --> 02:09:44,430 You broke your rules. You didn't set the alarm, you didn't make sure that alarm was set for why it happens. And you have to have a way of mitigating those
744 02:09:44,430 --> 02:09:53,040 circumstances in trading, preventing the opportunity for managing majority of your losses. You're going to lose but the times you're going to blow your
745 02:09:53,040 --> 02:09:59,670 account are going to be in times where you knew damn well. You should not have done that. And you want to fix it right away because you don't want to go home
746 02:09:59,670 --> 02:10:09,660 without losing Trade and then you parlay that little booboo. That little mistake into something that completely blows your account. I can tell you every single
747 02:10:09,660 --> 02:10:18,180 time I blew an account, they always were on the heels of one little booboo I wish I wouldn't have done and I tried to fix it. And that became a paper cut
748 02:10:18,240 --> 02:10:31,230 into an open wound. Even stitches couldn't be handled. So I'll leave it up to you whether you decide this was a beneficial space or not. It's not a feel good
749 02:10:31,230 --> 02:10:42,360 moment. It's not a discussion. It is a happy one. It doesn't make you feel empowered. It makes you take inventory. Are you dealings? Are you thinking
750 02:10:42,360 --> 02:10:49,140 correctly? And are you avoiding when you're likely to lose? Until next time, be safe?