007-ict-tw-spaces-20230128-Drawing-Your-Successful-Trading-Blueprint
Last modified by Drunk Monkey on 2023-02-03 06:01
Outline
00:38 - How to avoid the pitfalls that most traders fall into.
03:56 - Your system is going to always have the things you wish it had.
08:28 - What are you going to talk about today?
12:06 - You have the burden of thesid on what you should be doing.
16:14 - You don’t have just that limitation. You can strip it down even further if you’re an intraday trader.
22:50 - Keep the focus on what you’re teaching and not on what other people are doing.
26:40 - Why you have to be comfortable with the uncertainty.
30:21 - You can’t expect a mansion from a rancher.
34:00 - I'm not lazy and I'm demanding my students not to be lazy -.
37:46 - If you don’t master yourself, you’ll be ushered out of this industry expediently.
46:20 - Have your students ever held up in their learning? Have you?
50:25 - Defining your trading model -.
55:00 - You have to start with one market -.
58:57 - If you do the things I'm telling you to do, you could be seeing what these young men and women are doing with real money -.
01:05:54 - Why I don’t talk about forex.
01:09:56 - What you’re looking for as a trader -.
01:14:09 - What timeframe are you going to trade in?
01:18:33 - Don’t fall in love with the small risk -.
01:23:05 - It’s not going to diminish, it’re going to get better.
01:30:03 - Don’t have goals or expectations.
01:33:48 - Every move on a chessboard is a loss.
01:37:30 - You get this King Kong feeling like you’re going to make so much more money if you don’t stick to your trade.
01:41:36 - When you are risking, you are putting on risk that has real potential to do damage to you emotionally -.
01:45:49 - You shouldn’t be doing this but you just gotta scratch that itch.
01:53:41 - The sky is not the limit and you can become a high-stakes trader if you want.
01:57:21 - Every single trade you enter is a losing trade.
02:01:09 - Every single time you go in you're going to have periods where you’re going to make some naked trades, some lose lose lose,
02:04:40 - You have to have a foundation before you have a home -.
02:12:02 - Why you need to look at specific things in the market -.
02:15:02 - You have to know yourself, the market, your model, and the economic calendar.
02:18:58 - Get a baseline experience before you start.
02:23:11 - You don’t want to live with what you live with.
02:26:59 - Why you have to be prepared for the negative.
02:34:29 - Why throw more gas on a fire that’s already out -.
02:38:58 - What does a daily chart look like?
02:43:08 - How do you know if a candle is going to go up or down?
02:46:54 - What days are more likely to produce big ranges?
02:50:10 - What’s a simple model you can use to build a blueprint?
02:58:09 - The expectation of looking for a setup between 930 and 11 o’clock.
03:01:22 - Going back and reflecting on the moves after the fact.
03:04:46 - Giving yourself positive self-talk in your charts.
03:08:02 - Focus on what you’re talking about -.
Transcription
| 1 | 00:00:38,850 --> 00:00:49,260 | ICT: Well, it's a good morning, it is a good morning, hope everybody's doing well. So we are going to be discussing kind of like a |
| 2 | 00:00:54,659 --> 00:01:08,609 | media preview of what to expect going forward, or two weeks away from the ICT live sessions that will be conducted on my YouTube channel. And I kind of like |
| 3 | 00:01:08,609 --> 00:01:25,229 | want to build in the proper expectation also ringing how you as a viewer, or listener, new student would take in this information to build a model, how you |
| 4 | 00:01:25,229 --> 00:01:37,349 | should properly build a trading model, and how to avoid the pitfalls that most traders and like myself and I first started years ago, hacking to void those |
| 5 | 00:01:37,379 --> 00:01:48,389 | types of things, and put the most positive forward momentum in your development in your learning. And try to avoid all the things that are going to be pitfalls |
| 6 | 00:01:48,389 --> 00:02:02,579 | and snares. It doesn't mean that even with my guidance that you won't have periods of confusion. You doubts, you misunderstandings or doing it wrong, |
| 7 | 00:02:02,609 --> 00:02:12,359 | that's part of growth. And I want all of you to understand that you this entire year is going to be filled with a mix of emotions for you. Right now you're |
| 8 | 00:02:12,359 --> 00:02:22,709 | excited. Okay. And that's understandable. And I'm excited for you. I'm excited, I can't wait to really get started. But I would just retweeted to focus on the |
| 9 | 00:02:22,709 --> 00:02:31,049 | people that follow me one of the followers said, doesn't seem on too enthusiastic about doing the mentorship, or the mentoring since the second of |
| 10 | 00:02:31,259 --> 00:02:42,329 | January. Non stop. So you're looking for the live sessions, they'll begin February 7 2023. And you'll be able to see the charts, not just seeing tweets me |
| 11 | 00:02:42,329 --> 00:02:57,419 | talking about specific things. So the title of this is your your blueprint to successful trading. And if you're new, you actually have a unique perspective. |
| 12 | 00:02:58,679 --> 00:03:11,369 | That means you have not been tainted with all the things that this industry unfortunately, pushes on students, turns them into gamblers most times. And then |
| 13 | 00:03:11,369 --> 00:03:24,149 | when they fail, they walk away from the industry thinking that no one's able to do this consistently. And it's unfortunate, but consider your successful trading |
| 14 | 00:03:24,389 --> 00:03:34,289 | your successful endeavor as a trader, much like a home. Okay, a new home purchase. And when you're sitting down with someone, maybe you're going into a |
| 15 | 00:03:34,289 --> 00:03:43,919 | home builder, and before I've moved into the home, I'm going in now. And my wife and I considered going to a builder and having them draw up plans for us and do |
| 16 | 00:03:43,919 --> 00:03:54,689 | lots of things. But unfortunately, like you all listening, all around the world, the supply chain has been a major factor in costs. So I went with a existing |
| 17 | 00:03:54,689 --> 00:04:02,519 | home, my wife fell in love with it. And it is what it is. I'm happy with her. There's some things I wish it had. But your system is going to always have those |
| 18 | 00:04:02,519 --> 00:04:13,769 | things too, even when it's profitable. Even when it's a beautiful piece of financial real estate. In your life that can generate income. You're always |
| 19 | 00:04:13,769 --> 00:04:27,359 | going to have these things that you wish it could just have this amenity this addition, or if it had this type of feature. It could do a better way of exiting |
| 20 | 00:04:27,359 --> 00:04:39,779 | like for me, my trading. One could argue it's consistent. Yes. Sometimes it's highly precise. Yes, but my wish about my own system. My own model is I wish my |
| 21 | 00:04:39,779 --> 00:04:50,249 | exits were better. And you're going to have that same thing throughout the year. You're going to wish that you knew more and the things that you learn you're |
| 22 | 00:04:50,249 --> 00:05:00,209 | going to wish you learned sooner. But why waste your time with that? That's what I had to do with my wife. I wanted the master bedroom in the home I'm in now To |
| 23 | 00:05:00,209 --> 00:05:10,919 | be larger, I compromised and she wanted to home. So I bought it. But that's one of the things in this home, I wish it was better. So that's human nature for us, |
| 24 | 00:05:11,309 --> 00:05:17,939 | we're always going to want something better, the grass is always gonna look greener on the other side of the fence. So I want you to make sure that you're |
| 25 | 00:05:17,939 --> 00:05:27,539 | aware of that going through this year under my tutelage because there's going to be times where I'm going to do nothing, I'm going to sit still, maybe on a live |
| 26 | 00:05:27,539 --> 00:05:40,889 | stream, I have no real clear indication of what I would do as a trader and take that as well, that's your invitation to be still, to do nothing, because you |
| 27 | 00:05:40,889 --> 00:05:51,989 | don't want to take risks blindly. Just like going and trusting a builder, you don't go to a builder and say, Build me a home that I'm going to like, okay, |
| 28 | 00:05:52,259 --> 00:06:01,139 | that's what most of my students that have never met me or ever worked in the marketplace at all. They'll come to me with the expectation, I'll say, I heard |
| 29 | 00:06:01,139 --> 00:06:10,349 | you're good. Tell me how to trade give me a system that works. And I don't want to lose money. I want it easy. And I want you to teach it to me quick. Right |
| 30 | 00:06:10,349 --> 00:06:19,949 | away, I want those types of people to go somewhere else. Because I already know from history, that I can't fix that. So if you are like that right now, this is |
| 31 | 00:06:19,949 --> 00:06:29,309 | one of those invitations to get yourself properly aligned with my style of teaching. And I'm okay with it not being conducive for you to learn from me. |
| 32 | 00:06:29,909 --> 00:06:40,829 | There's other ways to trade isn't just my way of making money. But if you're wanting to learn how I can time these things precisely. And you've seen |
| 33 | 00:06:40,859 --> 00:06:51,089 | illustrations of that, with executions and such, and you see my students doing it and you see them making money. Don't come with unrealistic expectations, just |
| 34 | 00:06:51,089 --> 00:06:57,449 | like going to a builder and saying build me a house I'm gonna love. What are they gonna do? They're gonna say, Well, can you sit down with me and give me |
| 35 | 00:06:57,449 --> 00:07:06,719 | some some features that you're looking for? You know, what type of house do you want, you want to rancher craftsman something Victorian, we settled on a |
| 36 | 00:07:06,719 --> 00:07:17,999 | colonial. So our home is a colonial, your trading system. It needs to have a structure, it needs to have something that, you know, is the reason why you're |
| 37 | 00:07:17,999 --> 00:07:28,829 | going into this and potentially incurring risk. Because if you do this with a funded account or your own money, you are incurring risk. And that risk can be |
| 38 | 00:07:28,859 --> 00:07:40,049 | damaging. You can lose more than you have. And it needs to be made aware. Right from Jump Street, right? When you first begin, you need to know that you're |
| 39 | 00:07:40,049 --> 00:07:52,799 | embarking on an endeavor that will absolutely cost you money. You're gonna lose money, it's gonna it's gonna be a transaction, whether it be by me inspiring the |
| 40 | 00:07:52,799 --> 00:08:02,939 | idea, or you taking it indirectly, from your own opinion. There's no guarantee of those things being profitable. And you will incur a losing trade and that |
| 41 | 00:08:02,939 --> 00:08:18,479 | losing trade will force you to wrestle with the idea that is the model you're trying to implement. profitable at all, is their house worth living in. So you |
| 42 | 00:08:18,479 --> 00:08:29,189 | have to know what you're looking for, before you even start this, and blindly following my commentary over a live chart or in a Twitter post. It's foolish. |
| 43 | 00:08:29,489 --> 00:08:40,949 | And some of you are posting your winning trades based on the things I'm saying in those tweets. I don't want you doing that. You're placing undue stress on me |
| 44 | 00:08:40,949 --> 00:08:49,979 | as the mentor because I'm not trying to teach you to follow copycat me. I'm teaching you how to read the tape, and you're cheating yourself. So I'm today |
| 45 | 00:08:49,979 --> 00:08:57,689 | sitting down like the builder. I'm the architect. You came to me hear in this space listening, and you're probably listening to a video that someone else |
| 46 | 00:08:57,719 --> 00:09:08,099 | uploaded on YouTube because I don't want these on my own channel. And you can get them to bother with making sure that the subtitles are correct. why don't |
| 47 | 00:09:08,189 --> 00:09:16,199 | why don't I put them on my channel because sometimes I go ratchet ICT and I don't believe I'm going to be there today. But sometimes I go off the rails and |
| 48 | 00:09:16,199 --> 00:09:27,599 | I don't want that on my channel. So I use Twitter for that medium. But I think we'll be pretty much focused today on what it is that you should be gleaning in |
| 49 | 00:09:27,599 --> 00:09:41,279 | terms of a blueprint for trading, but as the architect and you come to me wanting a high performance trading methodology, a way to go in and time to |
| 50 | 00:09:41,279 --> 00:09:54,779 | market with precision. Go in and take surgical strikes, get in get out. I can present that to you. I can present it to you in a multifaceted presentation. I |
| 51 | 00:09:54,779 --> 00:10:03,989 | can also strip it down to its chrome like today how How can you make money? We're going to talk about that. |
| 52 | 00:10:05,250 --> 00:10:12,120 | What little do you need? We're gonna talk about that what things aren't important, they will be the things that are not mentioned in this presentation |
| 53 | 00:10:12,120 --> 00:10:23,730 | today. That's not to diminish them. It's not to say that those things aren't helpful, that they won't build up the results. I'm just saying, for someone |
| 54 | 00:10:23,730 --> 00:10:34,170 | that's new, or to build the proper expectation, where we're going this year, how to start, I'm going to present these live sessions in a manner that if you're |
| 55 | 00:10:34,170 --> 00:10:44,190 | new to me, and you don't have the time, or not inspired to watch every video on my YouTube channel, I'm going to take you as the person that came to me like |
| 56 | 00:10:44,190 --> 00:10:52,560 | when I was in the 90s, when someone came to me and said, Hey, can you sit down with me and train me to do this, they had one week with me. But prior to that |
| 57 | 00:10:52,560 --> 00:11:08,460 | week, I gave them three months of things to look for, show me in the charts, the types of moves that you're inspired by. So I let them pick the structure of |
| 58 | 00:11:08,460 --> 00:11:18,240 | their home. Sometimes they wanted things that were outside, my personal preference was his long term trading, I don't have the appetite to do that, |
| 59 | 00:11:18,240 --> 00:11:27,840 | because my mind changes constantly. So that's what I do well as an intraday trader, because I can adapt to that you may be a little bit more lethargic, it |
| 60 | 00:11:27,840 --> 00:11:38,340 | takes a lot more for you change your mind about something, and you're more prone to be successful in long term venture like position or swing trading. All of my |
| 61 | 00:11:38,340 --> 00:11:51,840 | concepts work in that all of my concepts work in forex, obviously, you've seen many of that. Futures, commodities and stocks. So it's, it's wild, it's wide |
| 62 | 00:11:51,840 --> 00:12:00,210 | ranging, in terms of what you can utilize it with. I just don't personally say anything about crypto because I've never traded crypto, but people, obviously |
| 63 | 00:12:00,210 --> 00:12:10,980 | that learn from me, report that they do well with it. I can't cosign that because I don't know very much about it. So I try to avoid it. But you come to |
| 64 | 00:12:10,980 --> 00:12:24,060 | me and you want a system, you want a methodology, and you have the burden of the Sidon what you should be doing, because your personality is going to dictate |
| 65 | 00:12:24,060 --> 00:12:35,520 | that I can't make you as much as I show example after example, I can't make you grow comfortable with intraday trading, if it's completely against who you are |
| 66 | 00:12:35,520 --> 00:12:47,460 | as a person, if it's too fast paced, and it is for some of you. And some of you are going to try to and try to overcome that when the real focus point should be |
| 67 | 00:12:47,700 --> 00:12:55,590 | learning how to read price action on the lower timeframe examples in the lectures I'm going to give you and just simply take that same mindset and apply |
| 68 | 00:12:55,590 --> 00:13:07,020 | it to a higher timeframe chart, because it's the same thing. The same elements of what I'm going to show you in 1234 and five minute charts, the lowest |
| 69 | 00:13:07,020 --> 00:13:17,940 | timeframes, that technical analysis and in this industry would scoff at and say it's noise. I'm going to demystify all that, I'm going to show you how to read |
| 70 | 00:13:17,940 --> 00:13:26,280 | all at real time. And you're gonna grow more comfortable with trusting your positions, once you know what you're looking for, and how to just relax and let |
| 71 | 00:13:26,280 --> 00:13:34,260 | the market do what it's designed to do. So that way, you're not wrestling internally thinking, I don't know what the next few candles are going to do. And |
| 72 | 00:13:34,260 --> 00:13:43,410 | I'm scared. Versus this is what it should do. I don't want to sit here and watch and does it continuously give me the feedback, I'm looking for the trust the |
| 73 | 00:13:43,410 --> 00:13:52,410 | outcome to be favorable for me, there's a total different perspective, there's a paradigm shift that takes place, and it's only going to be seen and observed |
| 74 | 00:13:52,740 --> 00:14:02,850 | over the chart. See, I'm giving you a test dry with the tweets because that one way of also showing that it's not delayed in data. It's not cherry picked. It's |
| 75 | 00:14:02,850 --> 00:14:11,610 | like I said it's cherry picking isn't it? I'm picking the winners, right? But you're gonna learn this year how to do this independent from me. But you're |
| 76 | 00:14:11,610 --> 00:14:19,080 | gonna have to show up, and you're going to have to decide what house you're going to live in as a trader, what's the style? What's the structure? Are you |
| 77 | 00:14:19,080 --> 00:14:27,450 | going to be a day trader? Okay, are you going to day trade the full daily range? Is that going to your model, trying to get near the low on a bullish day and |
| 78 | 00:14:27,450 --> 00:14:39,120 | hold for majority of the daily range? Or are you going to break that up into two sessions and say, okay, my work schedule, my life commitments. My sleep schedule |
| 79 | 00:14:39,510 --> 00:14:50,370 | dictates that I can't trade the New York session, Michael. So what should I do in that essence? Well, I think that you should probably trade London. There's |
| 80 | 00:14:50,370 --> 00:14:57,240 | moves that take place overnight, between two o'clock and four o'clock in the morning. There's setups just like when I teach in forex, just because I'm not |
| 81 | 00:14:57,240 --> 00:15:08,790 | hammering that, in the 2022 con and thus far this year, don't think for a moment that you cannot trade the same money kill zone that I teach with Forex. That |
| 82 | 00:15:08,790 --> 00:15:22,320 | same thing exists in futures. overnight session is overnight session. When those individuals over in London, in Europe, they, when they wake up what the markets |
| 83 | 00:15:22,320 --> 00:15:33,930 | not trading because you know it it hasn't happened here in the US because we're still sleeping maybe no, it's working, it's rolling. It just means that when I'm |
| 84 | 00:15:33,930 --> 00:15:43,320 | teaching you the New York session, we had the benefit, the advantage, and plus, I'm really liking the fact that I don't have to stay up at night. I'm getting |
| 85 | 00:15:43,320 --> 00:15:53,910 | old. So the whole point is, is you want to have every advantage in your favor in New York session has that because you have already the hardest part of the day |
| 86 | 00:15:53,910 --> 00:16:02,460 | behind me, which is in Europe in London. What they do overnight, that establishes a lot of things. And we'll talk about that. I'll talk about a little |
| 87 | 00:16:02,460 --> 00:16:11,910 | bit more in this presentation as well. But don't think for a moment that I'm trapping you, in painting you into a corner that you can only trade during the |
| 88 | 00:16:11,910 --> 00:16:22,410 | New York session. You don't have just that limitation. You can trade in the afternoon session between 130 and four o'clock. You can strip it down even |
| 89 | 00:16:22,410 --> 00:16:30,060 | further, if you're an intraday trader, and you're comfortable with making these types of ideas and opinions and studying the charts with that mindset. You can |
| 90 | 00:16:30,060 --> 00:16:40,830 | strip it down to the last hour of trading three o'clock to four o'clock. And that's your entire career, just a handful of them, or maybe even one per week. I |
| 91 | 00:16:40,830 --> 00:16:53,400 | have housewives all over United States that are students of mine now. And they have reported obviously, staying home moms, they get rid of kill a lot from men, |
| 92 | 00:16:53,400 --> 00:17:01,260 | that's Oh, you don't do anything. Woman, you're just gonna tell you tell the kids what they gotta do. Mind the home, when I come home, make sure my dinner is |
| 93 | 00:17:01,260 --> 00:17:08,550 | on the table, clean the house and everything will be fine. Like they don't have a responsibility. Like they don't have things demanding their attention. It's |
| 94 | 00:17:08,550 --> 00:17:22,560 | not like it used to be where women can just sit around and watch soap operas. The world is constantly moving. And to run a home today with children demands a |
| 95 | 00:17:22,560 --> 00:17:32,010 | lot of energy a lot of time, and they still just because they're home, and you're the breadwinner, gentleman, you're out there collecting the money. Don't |
| 96 | 00:17:32,010 --> 00:17:39,780 | think for a second, if they're doing what they're doing as a student here learning that they have all the advantages of extra time because they don't. |
| 97 | 00:17:41,190 --> 00:17:50,010 | Children have to be maintained, the home has to be maintained. They have their own personal things that they want to do as they should. So everybody's |
| 98 | 00:17:50,010 --> 00:17:59,970 | competing with time and how to make this fit in their personal lives. And you need to find that you have to pick the structure of your home as a trader, |
| 99 | 00:17:59,970 --> 00:18:09,210 | because you're gonna live in it. I am around homes that some of them are actually way larger than the home I'm in now. Some of them are actually much |
| 100 | 00:18:09,210 --> 00:18:18,930 | nicer than the home I'm living in right now. And I don't mind it, I don't look at their home, just like you shouldn't look at someone else's trading patterns, |
| 101 | 00:18:19,230 --> 00:18:31,170 | or model or results and say, I wish I slept in that room of that house. I wish I could park my car in that garage, I wish I could drive that car that he has in |
| 102 | 00:18:31,170 --> 00:18:44,490 | his garage. See, by doing all those things that shows discomfort in what you're doing. I never, I never look at someone else online, whether it be their |
| 103 | 00:18:44,490 --> 00:18:52,410 | results, whether they're doing some live streaming, or whether they have won a competition, whether they've done really well on a leaderboard, whether they've |
| 104 | 00:18:52,410 --> 00:19:03,030 | done statements, or I've never looked at someone else and said, Wow, I feel like I'm not significant enough. And you shouldn't do that either. Because what |
| 105 | 00:19:03,030 --> 00:19:12,300 | that's indicating is number one, you're it's a character flaw. And many of you many of you are going to bring that into this trading endeavor. And it's going |
| 106 | 00:19:12,300 --> 00:19:22,500 | to cause you to not want to stay with the things I'm going to show you that will lead to consistency and continuity and eventual profitability if you submit to |
| 107 | 00:19:22,500 --> 00:19:34,470 | it. But if you quit, or if you are distracted easily by this is something that's going on over here. So this person did something that may or may not be valid, |
| 108 | 00:19:35,340 --> 00:19:44,550 | as the reason why the market went higher or lower. But because they take in a transaction they put on risk, and they show the champion trophy of their when |
| 109 | 00:19:44,580 --> 00:19:50,760 | you don't know how many tricks they've taken before that one. You don't know if they've been correct, but that's the one you're going to see and you're going to |
| 110 | 00:19:50,760 --> 00:20:00,150 | be convinced that that's enough of a distraction to stop what you're doing here. And go chase that. And I have lots of students have done that. Oh, Over the |
| 111 | 00:20:00,150 --> 00:20:03,810 | years, even when I was teaching in America Online, back in the 90s. |
| 112 | 00:20:06,660 --> 00:20:17,550 | So you have to wrestle, and guard your mind, if you're here, commit to the full year, don't come in casually, and think, Well, you know, it didn't really teach |
| 113 | 00:20:17,550 --> 00:20:28,860 | me how to make money in the first three sessions, and I'm just gonna pack it in, it doesn't work. It doesn't work for you. You didn't put the work in. So that's |
| 114 | 00:20:28,860 --> 00:20:39,300 | we, you know, have you I'm sorry, you don't have a excuse. If you are going to come in on a part time basis here, you have to be 100%. committed, I'm gonna |
| 115 | 00:20:39,300 --> 00:20:47,940 | give you my full year. What are you going to bring to the table? Are you committed? Are you going to, you know, really put conviction behind the things |
| 116 | 00:20:47,940 --> 00:20:55,530 | that you're doing while you're training with me this year. Because if you don't, you're not going to get the results you're looking for. And you won't hit the |
| 117 | 00:20:55,530 --> 00:21:07,650 | mark that I'm guaranteeing you. By the end of this year, you will be able to read price better than anybody else is going to teach you. That is not me saying |
| 118 | 00:21:07,650 --> 00:21:16,650 | that you're getting rich. That's not me saying that you're going to make money every single day. I'm promising you that there is nobody out there teaching |
| 119 | 00:21:17,220 --> 00:21:28,050 | zero. Absolutely zero. There's no one teaching you what I'm going to teach you this year, you're going to see it, you're going to test drive it, you're going |
| 120 | 00:21:28,050 --> 00:21:39,300 | to be built up in your confidence, but not to be overconfident not to be arrogant. I don't want you as my community as my student base to go around with |
| 121 | 00:21:39,300 --> 00:21:50,640 | pitchforks and torches, and tormenting other people. Because you are learning something that is different. Obviously, it's trailblazing, but it's the real |
| 122 | 00:21:50,640 --> 00:22:02,820 | market. And it's empowering. Yes. But it's I'm not empowering you to be trolls. So also be be respectful of other people, because a lot of other people out |
| 123 | 00:22:02,820 --> 00:22:11,190 | there are making money. And they're not doing anything that I'm teaching. they've mastered themselves. They're comfortable in the house they live in. |
| 124 | 00:22:11,760 --> 00:22:18,630 | That's the house they built for trading. They don't care what their neighbors are sleeping in and driving, and how they parked their cars in their garage. |
| 125 | 00:22:20,250 --> 00:22:27,930 | They have something that they're comfortable with. They're not trying to keep up with the Huddleston. It's the expression is trying to keep up with the Joneses. |
| 126 | 00:22:28,230 --> 00:22:35,340 | There's a lot of people out there, they know me, but they're not influenced by me, they care less what I'm doing what I'm not doing. If I make money, if I |
| 127 | 00:22:35,340 --> 00:22:42,570 | don't make money, they're making money, they're minding their business, I have a lot of respect for those types of people. When I see that I push them I promote |
| 128 | 00:22:42,570 --> 00:22:48,510 | them because there's they're proving to the industry that they're profitably sit out there, they do it in front of people. And the respectfully has nothing |
| 129 | 00:22:48,510 --> 00:22:59,190 | really to say bad about anyone. And they're having a good time. And that's what I tried to do that a with Patrick. And unfortunately, some of you may or may |
| 130 | 00:22:59,190 --> 00:23:08,670 | not, I'm not convinced that all of your students that were doing that, but you don't want to distract yourself. So keep the focus on what it is that I'm |
| 131 | 00:23:08,670 --> 00:23:19,770 | teaching. And that way your mindset is not being drawn to a different direction. So much like a home, when you sit down with an architect, the architect will |
| 132 | 00:23:19,800 --> 00:23:29,760 | say, hey, what type of things do you want in your home? Or what type of things do you want? You're trading? You want to be able to pyramid positions? Or do you |
| 133 | 00:23:29,760 --> 00:23:40,230 | want to just do one and done get in? And they may take partials along the way. Okay, that's an amenity. You're asking me to show you how we can build your |
| 134 | 00:23:40,230 --> 00:23:51,120 | house in trading. That you're aesthetically pleased. Looking at hourly. I want to be a day trader Michael, okay. Let's sit down and let's work it out how you |
| 135 | 00:23:51,120 --> 00:24:04,950 | want it? How do you want to trade? What is your what's your model going to be? You have to bring that to me. You have to put that to paper. You can't let me or |
| 136 | 00:24:04,950 --> 00:24:16,050 | anyone else dictate how you're going to trade because I no one else can take you and press you into satisfaction about being in a home or a model of trading that |
| 137 | 00:24:16,050 --> 00:24:23,880 | you really don't like, if you're not comfortable in it. It doesn't matter how many other people are trading it making money. If you can't be comfortable in |
| 138 | 00:24:23,880 --> 00:24:35,490 | it, and live in it, then it's useless to you. And if it's if it's a source of agitation and frustration because it's not really what you wanted. You won't |
| 139 | 00:24:35,490 --> 00:24:44,910 | pour everything into it. Like when you have a home that you love. You'll pour more money until you invest in a new paint job. You know keeping up with maybe a |
| 140 | 00:24:44,910 --> 00:24:59,100 | new carpet every couple of years. And if the while it allows for it, maybe in addition, a swimming pool, something else. All those things are factors that |
| 141 | 00:24:59,100 --> 00:25:07,680 | come with you You being satisfied with what you're putting your work behind, you love the home you're in. That's what you have to be as a trader, you have to |
| 142 | 00:25:07,680 --> 00:25:17,070 | love the home that you're in as a trader, you're not influenced, you're not going to be influenced, or feeling like you don't have enough, you got to be the |
| 143 | 00:25:17,070 --> 00:25:25,200 | king of your castle. Mind your own business and be the king of your own castle. But what castle are you gonna live in as a trader, you have to know what those |
| 144 | 00:25:25,200 --> 00:25:34,740 | things are. And unfortunately, it's a source of frustration for new students and new traders because you don't know what you don't know. You don't know where |
| 145 | 00:25:34,740 --> 00:25:43,050 | your strengths are, and you don't know where your weaknesses are. That's what makes this industry hard because 90% of this is you wrestling with yourself. |
| 146 | 00:25:44,370 --> 00:25:52,170 | Because the charts are going to go up, or they're going to go down. And if they're not doing either one of them they're going sideways. And that's a simple |
| 147 | 00:25:52,170 --> 00:26:00,180 | thing to measure probabilities, is it like to go higher or lower? Or the gates based on economic calendar? When's it likely not to do much at all and go |
| 148 | 00:26:00,180 --> 00:26:13,950 | sideways. So you have three decisions there. But those three decisions are going to push you. If you have a weak minded perspective on risk, it's going to make |
| 149 | 00:26:13,950 --> 00:26:25,320 | you impulsive, and you're going to chase moves, and do things that are gonna be outside of a model. So you have to know what you're asking of me as a mentor. |
| 150 | 00:26:26,490 --> 00:26:40,470 | And what you're placing demands on yourself to follow. I've had so many students over the years, come to me and say, Michael, I want to be a scalper. Okay. Why? |
| 151 | 00:26:42,510 --> 00:26:50,910 | And they can't tell me that, because I want to make money fast. And I'm afraid to lose money. So I knew getting in and getting out, you know, I have less risk |
| 152 | 00:26:50,910 --> 00:27:03,990 | of losing that way. No, you don't. That's that's not true. Okay. If you think that it's less risk day trading than any other style trading, that is too myopic |
| 153 | 00:27:03,990 --> 00:27:14,910 | of a view, you must absolutely must understand and accept the fact that as soon as you enter the marketplace, as soon as you enter that market, whatever market |
| 154 | 00:27:14,910 --> 00:27:25,260 | it is, based on whatever time frame whatever methodology, whether it be mine or someone else's, you have relinquished control over your finances, to the outcome |
| 155 | 00:27:25,260 --> 00:27:40,620 | that you have no control over. Think about that. Because I have continuously harped on that. And a lot of you tend to have selective hearing, and you don't |
| 156 | 00:27:40,620 --> 00:27:48,450 | want to hear that you think there's so or so there's a secret advantage. And there's an order block, there's a fair that you get that's going to help me you |
| 157 | 00:27:48,450 --> 00:28:01,620 | minimize that type of thing. No. Risk is always there. Always. And you have to be comfortable with that uncertainty, because it will visit you. drawdown will |
| 158 | 00:28:02,070 --> 00:28:17,160 | come home and visit you and how long you let it stay in your home is up to you. How much time being uncomfortable Are you willing to absorb? That's also a |
| 159 | 00:28:17,160 --> 00:28:29,970 | factor when building a model. Because if you're going to be a long term position trader, for folks that are listening, when you have periods of drawdown, you |
| 160 | 00:28:29,970 --> 00:28:39,870 | have to be comfortable living in that for a longer time. Because long term position trades. They don't happen every day. They don't happen every week. So |
| 161 | 00:28:40,440 --> 00:28:51,150 | that's another advantage to me, because I would not be comfortable holding a period of drawdown for weeks and months. I wouldn't I couldn't, I can't tolerate |
| 162 | 00:28:51,150 --> 00:29:01,470 | that. It's it's an it's an intolerable experience. For me, I can't personally endure that. That doesn't mean that you couldn't. But that's a factor that, |
| 163 | 00:29:01,740 --> 00:29:12,720 | unfortunately, most books and teachers don't really address and they're paramount for someone that's just becoming interested in doing this. Because, |
| 164 | 00:29:12,930 --> 00:29:20,460 | first of all, you need to be commended, because number one, you don't have all your marbles. If you want to do this anyway. You're not on you're not on the |
| 165 | 00:29:20,460 --> 00:29:37,290 | list of folks that have reasonable risk tolerance, you're willing to assume more risk, even though you don't want to lose. You're willing to face that. But |
| 166 | 00:29:37,290 --> 00:29:46,500 | unfortunately, the first time you get out there and you lose that tells you who you really are. And that many times separates you from this industry. And if it |
| 167 | 00:29:46,500 --> 00:29:47,250 | happens to you |
| 168 | 00:29:49,710 --> 00:29:56,760 | and for unfortunately as a trader, yes. But fortunate that you have learned your lesson early and you don't pour yourself into it and lose more money when you |
| 169 | 00:29:56,760 --> 00:30:04,980 | know it may not be something that you can do. And there's no shame in that. There's people out there that can help you. If you can't execute, there's people |
| 170 | 00:30:04,980 --> 00:30:14,010 | that can manage your funds for you, but you have to be demanding of them. Show proof, you know, how are you going to risk? You know, how do you manage risk. |
| 171 | 00:30:15,660 --> 00:30:26,160 | But I'm pouring everything into this this year. And you have to show up every day. And I will build your house with you. But you have to bring those |
| 172 | 00:30:26,490 --> 00:30:41,670 | expectations that are reasonable to me. You can't expect a mansion from a rancher. You can't expect, you know, Ferrari performance with a Ford Pinto. And |
| 173 | 00:30:41,670 --> 00:30:51,330 | unfortunately, that's many times what happens when I have brand new, never been in the marketplace never experienced that at all. They come to me and they |
| 174 | 00:30:51,330 --> 00:30:58,350 | think, Okay, well, you're supposed to be the professional. So therefore, give me a system that never, that never loses, that never has drawdown. And I'm always |
| 175 | 00:30:58,350 --> 00:31:09,330 | going to be right, and I'm not going to be tricked into doing something and manipulated and have my stop loss hit. I'm not that guy. I'm looking for him to |
| 176 | 00:31:10,140 --> 00:31:18,420 | come out, they're looking for him. They don't exist, folks. I mean, you're you're gonna have to be comfortable with uncertainty to embrace that. That's |
| 177 | 00:31:18,420 --> 00:31:29,370 | what trading is this lifestyle. Because that's what this is. I don't call it a career, I call it the lifestyle, you have to embrace that. And it's fun. It's |
| 178 | 00:31:29,370 --> 00:31:40,890 | fun. It's like treasure hunting. And if you sit down in front of these charts, and you don't feel that passion, about like, being on a treasure hunt, like you |
| 179 | 00:31:40,890 --> 00:31:54,630 | have the potential to do something extremely difficult. But if you follow the rules of a well sounded, and formulated approach that manages impeccably the |
| 180 | 00:31:54,630 --> 00:32:08,580 | risks, this is really fun. It's really fun. And the outcome could potentially change your whole entire life. In both senses of the term, it could be good or |
| 181 | 00:32:08,580 --> 00:32:24,360 | bad. But the potential is there. So in the home, that you're making, for your trading, there's different rooms, there's certain rooms that you use for certain |
| 182 | 00:32:24,360 --> 00:32:33,180 | things in my trading, if you were to use the analogy I've been using this morning, my home has several rooms that have the great room, which would be |
| 183 | 00:32:33,180 --> 00:32:42,540 | considered like the main entertainment room, that I have sleeping areas, and I have the downstairs where I have a home theater and other things that I use, I |
| 184 | 00:32:42,540 --> 00:32:54,090 | have a workout area and have storage areas, each one has its own main function to get to those areas in that home. There's doorways. That's what a PD array is. |
| 185 | 00:32:55,350 --> 00:33:04,680 | You may not use certain rooms in the house, like I've had many times in homes that I barely enter in to any of the certain rooms, I don't have a reason to be |
| 186 | 00:33:04,680 --> 00:33:16,440 | in there. So they get used very little infrequently. You want to have a home in your trading that you're using. Frequently, because much like a home that's not |
| 187 | 00:33:16,440 --> 00:33:27,390 | lived in, it tends to wear down and becomes dilapidated. You don't want your trading model to be that way. You only want what works and you're using. See |
| 188 | 00:33:27,390 --> 00:33:36,600 | that when you want something that's lean, not fluffed up. And that's unfortunately, what many of the people come to me they think, wow. Look, look at |
| 189 | 00:33:36,600 --> 00:33:49,350 | all these videos it tease me like what is what the hell am I supposed to do with all this? Where do I start? Where do I start with all this? And I know it's a |
| 190 | 00:33:49,350 --> 00:33:58,620 | little intimidating. But I'm passionate about teaching everything I know. And everything I know takes time. And I want to build on. I don't want to have to |
| 191 | 00:33:58,620 --> 00:34:09,360 | ask anything. I'm not lazy. And I'm demanding my students not to be lazy. And unfortunately, lazy folks have very poor opinions of me, because they don't have |
| 192 | 00:34:09,360 --> 00:34:22,950 | the, the wherewithal to do what's required to learn properly under me. But when you see how I really teach and how I actually trade and how my students are |
| 193 | 00:34:22,950 --> 00:34:37,440 | trading, all of those things, all those video series, all those episodes, if you will. They're introducing you a component, one cog in the machine. That cog |
| 194 | 00:34:37,470 --> 00:34:45,150 | might be in that video series, that particular video that lecture that moment where I say something and show something that's been a hindrance to you that you |
| 195 | 00:34:45,150 --> 00:34:53,760 | have not been able to go over and pass through and you're understanding something happens and boom, you have an epiphany. Suddenly everything clicks and |
| 196 | 00:34:53,760 --> 00:35:08,970 | you know exactly what has been holding you up. And now you can move forward That's what the purpose of all those lessons are for their for my children, it's |
| 197 | 00:35:08,970 --> 00:35:17,730 | a record for them in case something happens to me, they can hear me, as their dad tell them, This is what I want you to do. Son, Daughter, grandchildren, |
| 198 | 00:35:18,750 --> 00:35:29,640 | these are things that I've learned, and I think are going to be helpful to you if you adopt them. But I also state many times, and this is this trap, the ICT |
| 199 | 00:35:29,640 --> 00:35:40,260 | content produces. Because I have so many weapons in my arsenal, so many rooms in my home, and the doorways, I have many doorways in areas of my home, I have many |
| 200 | 00:35:40,260 --> 00:35:51,390 | doorways in my trading methodology, I have different strategies, which is a room in my home as trading. But I have multiple access points to those rooms, I don't |
| 201 | 00:35:51,390 --> 00:36:02,610 | have just one doorway. That's an entry technique. I can use a breaker, I can use an order block and use a fair Vega. I can use a mitigation block, institutional |
| 202 | 00:36:02,610 --> 00:36:15,210 | order flow entry drill, I can buy the stops, or I can sell the stops. That's many ways to get into something. What's the purpose of that room? When I'm |
| 203 | 00:36:15,210 --> 00:36:24,750 | buying something I'm going long, I'll use some strategy of many. But once I'm in the trade, if I still have room to get to the other side of my home, which is |
| 204 | 00:36:24,750 --> 00:36:34,440 | that trading model, that's my terminus, that's my target. Okay, well, I can I can get to the other side of my house, through different ways, in different ways |
| 205 | 00:36:34,500 --> 00:36:44,970 | would be like me pyramiding more entries based on what the what the market is presenting me. Not every trading price run is going to have a breaker in it. So |
| 206 | 00:36:44,970 --> 00:36:54,060 | if you're only looking to try to take trades that have a breaker, you have nothing to do. And you need to be comfortable with doing nothing because your |
| 207 | 00:36:54,060 --> 00:37:02,580 | model isn't telling you to do anything right now, not thinking but Instagram dyes are saying that they should be buying to you I missed that move. What am I |
| 208 | 00:37:02,580 --> 00:37:13,860 | doing wrong, you're doing nothing wrong. Except for watching other people trying to do what they're doing because they're following their own model. Don't get |
| 209 | 00:37:13,860 --> 00:37:24,480 | tricked into thinking that influences even myself. Don't think for a moment that I'm saying to you in any particular day, when I'm doing something, that that's |
| 210 | 00:37:24,480 --> 00:37:36,570 | the only way of doing it. It's not like that at all. And that's why it's important for you to spend time here and see different results by different |
| 211 | 00:37:36,570 --> 00:37:45,060 | students, because they're all doing something different using everything I taught. And many times they're going against a trade that I would be in. And |
| 212 | 00:37:45,060 --> 00:37:54,120 | they're still profitable. How's that possible? How is that possible? If ICT is going long, the market has to bend to his will. But think about it. He's right |
| 213 | 00:37:54,150 --> 00:38:00,240 | all the time. Right? That's what the that's what you're coming to me with. It's that's the false sense of security that you're adopting. And I'm trying to |
| 214 | 00:38:00,240 --> 00:38:11,730 | remind you and shake you and say no, you're gonna see me do it wrong. And it's okay. It's okay. There's no reason to be alarmed by being wrong. That's part of |
| 215 | 00:38:11,730 --> 00:38:21,330 | your model. In fact, we're going to talk about how you have to build in allowances for that. Because if you don't, you'll be ushered out of this |
| 216 | 00:38:21,330 --> 00:38:34,860 | industry. expediently. Maybe not as politely as you'd probably hope, but that will be the end result if you don't master yourself. But don't try to apply |
| 217 | 00:38:34,860 --> 00:38:43,560 | everything that I teach. That's the that's the problem. That's the problem. When people come to my content, they listen to my lectures, and they see okay, he's |
| 218 | 00:38:43,560 --> 00:38:54,480 | all over the place. Yeah, you go and you watch a painter. I don't paint. But if you're watching, there was a gentleman years and years ago, he's he's passed |
| 219 | 00:38:54,480 --> 00:39:05,910 | away now. Bob Ross. Okay. Guy was just chill laid back. If you'd like to sleep with me on your YouTube channel, like if you want to go sleep for the long video |
| 220 | 00:39:05,910 --> 00:39:15,210 | and ICT and obviously, it's a lullaby. Okay. I got no problem with that. I used to put Bob Ross on. When I couldn't sleep. I just watch him and happy little |
| 221 | 00:39:15,210 --> 00:39:24,270 | trees and he's paint and I'm looking at and I'm thinking, okay, he's painting. Most of the time. He's only using a fan brush, or that small little detail brush |
| 222 | 00:39:24,300 --> 00:39:32,100 | or a big wide brush. There's three. There's three paint brushes he used predominantly most of the time. And there's so many like, what the hell society |
| 223 | 00:39:32,100 --> 00:39:41,670 | people talking about. Bob Ross and Payne. think this guy is a professional. He's got a blank canvas. That's what your chart looks like in the morning. The hard |
| 224 | 00:39:41,670 --> 00:39:50,370 | right edge that is a blank canvas. And most of you are staring at that thing. Like a deer in headlights. You have no idea what the hell's about to happen. |
| 225 | 00:39:52,440 --> 00:40:07,500 | But a professional that understands price. We are expecting art. We're excited Acting, a beautiful delivery. And we're going to engage based on what that chart |
| 226 | 00:40:07,500 --> 00:40:21,510 | does. And at the end of the day, our aim is to have a Picasso, something that we're proud of that we engaged in Bob Ross, the painter, he doesn't know, if, |
| 227 | 00:40:21,750 --> 00:40:31,620 | when he takes that brush and pushes it onto the canvas, he doesn't know for sure the delivery of that paint is going to be exactly how he's hoping it will be. |
| 228 | 00:40:31,650 --> 00:40:39,480 | That's why yes, make adjustments and tap, tap, tap all over the canvas and do more adjustments and make the thing come to fruition. At the beginning, you have |
| 229 | 00:40:39,480 --> 00:40:52,020 | no idea what he's painting, you're confused, you're like, Okay. And then suddenly, he does a little bit more, with just three paintbrushes. All sudden, |
| 230 | 00:40:52,020 --> 00:40:58,770 | you see something you see mountains, you see a lake, you see, you know, whatever it is, he had in his mind, he wanted to paint at the annual like, well, I didn't |
| 231 | 00:40:58,770 --> 00:41:09,120 | see that coming. It's beautiful. But he has all these other paint brushes. But he goes to these certain tools, these certain three brushes over many of the |
| 232 | 00:41:09,120 --> 00:41:19,380 | other ones. But if he has a purpose, for reaching for that other paintbrush to do a specific function, a small little detail, he wants to go in and highlight a |
| 233 | 00:41:19,380 --> 00:41:29,370 | certain area of a tree or wrappers, the light reflecting off of water. That's what a volume imbalance is, for me. It's just another tool that I can utilize to |
| 234 | 00:41:29,370 --> 00:41:39,750 | justify holding on to a trade if it's supporting price, and I'm long, great, I'm looking for it to do that. It may go through it and come back above it and |
| 235 | 00:41:39,750 --> 00:41:49,200 | bullish and I want to see it now does it respect that volume imbalance again, or for the first time, I'm looking at it, I'm reaching for a paintbrush that's not |
| 236 | 00:41:49,200 --> 00:41:59,070 | required for me to do the trade, but it's supporting the idea. I might not enter on the breaker. I'm waiting for a price run and a fair value gap or a |
| 237 | 00:41:59,070 --> 00:42:09,690 | institutional order flow. That's a paintbrush. It's going to be used if the opportunity presents itself. But I'm not going to the marketplace. I'm here |
| 238 | 00:42:09,690 --> 00:42:17,490 | guys. I have all my breakers, all my motivation blocks and my favorite I guess I'm gonna force all of this on this chart today. I'm going to press it all on |
| 239 | 00:42:17,490 --> 00:42:29,280 | there, you're going to have a mess. And that's unfortunately, what neophyte traders or casual Netflix type ICT people that come here and just watch and |
| 240 | 00:42:29,280 --> 00:42:37,620 | listen to me. And they think, okay, you know, this stuff doesn't work, because there was no breaker today and look what the market did. Okay, look what else it |
| 241 | 00:42:37,620 --> 00:42:46,620 | provided you an opportunity I can get in the market. After market runs halfway. I can still go on those moves. I have tools for that you're going to learn those |
| 242 | 00:42:46,620 --> 00:42:55,110 | things this year. And it won't be chasing price, like everybody else will say it's chasing price. You're not chasing price. If the moves gonna move 50 |
| 243 | 00:42:55,110 --> 00:43:07,860 | handles, and it's already moved 30 Are you afraid to buy it? So I'm not? I'm not a winning trade is a winning trade. And you don't know what that is yet. You |
| 244 | 00:43:07,860 --> 00:43:18,510 | don't know what you don't know. And once it runs up a lot. Don't think it can keep going. And there's rules that I'll teach you throughout this year. When |
| 245 | 00:43:18,510 --> 00:43:31,860 | should you not do it? And when should you risk it? But understand that there's a higher level of risk there. That all needs to be managed. So what's your model |
| 246 | 00:43:31,860 --> 00:43:40,890 | going to be? What's the home that you're building? Are you a scalper a day trader, a swing trader, a short term trader position trader, I'm not doing any |
| 247 | 00:43:40,890 --> 00:43:52,080 | of that decision making for you need to do side that. I teach day trading because I like day trading. But also as a teacher, it allows me a great deal of |
| 248 | 00:43:52,080 --> 00:44:04,440 | experience in a short period of time, you'll know right away. If my stuff works, because I have daily examples of it. I'm calling it on Twitter, so you can see |
| 249 | 00:44:04,440 --> 00:44:13,800 | it in your charts real time. Right when it's happening. And then watch it p&l. And it's fun, isn't it? It's really engaging. It's fun. That's this is what |
| 250 | 00:44:13,800 --> 00:44:22,260 | trading should have been for me when I first started. But I didn't have this. So I'm trying to be the Mr. Wizard. And folks that are the child of the 70s and |
| 251 | 00:44:22,260 --> 00:44:29,640 | 80s. You know who I'm talking about Mr. Western, you he would, he would do his little experiments with his, you know, his kids on the TV shows hosting |
| 252 | 00:44:29,850 --> 00:44:38,250 | something scientific or whatever and it defined, I love it. I'm trying to do that with you. Because I know if I show you where the market is right now, and |
| 253 | 00:44:38,250 --> 00:44:48,630 | where it's gonna go next. And you watch that thing unfold day after day, week after week and it's very precise. You will be confident that you're in good |
| 254 | 00:44:48,630 --> 00:44:55,470 | hands. That's all that's the major hurdle for me as a mentor. And that's the major hurdle for you when you're starting to learn how to do this because you're |
| 255 | 00:44:55,470 --> 00:45:04,650 | going to doubt everything Think about when you go to buy a house and you work with the builder, you don't know if these people are going to do a good job. |
| 256 | 00:45:05,130 --> 00:45:17,280 | Sure, they might have references. Oh, yeah, this person built this house is great. Okay, but they haven't built your house yet. So reviews and opinions |
| 257 | 00:45:17,280 --> 00:45:27,540 | about other people are going to influence you early on. And that's why I do what I do. I show you proof, this is precision, this is where it's going to go, this |
| 258 | 00:45:27,540 --> 00:45:38,940 | is why it's going to happen. So that way, it will be able to be leaned on, when the times come when you think that the lessons are not working for you. Like |
| 259 | 00:45:38,940 --> 00:45:48,960 | you're not getting the results as quick as and as efficiently as you were hoping, like you want to learn how to do this in three weeks, I'm telling you, |
| 260 | 00:45:48,960 --> 00:45:55,500 | you're not going to, you're going to it's going to take you the full year. And some of you it's going to require you to do the things I'm going to teach you |
| 261 | 00:45:55,680 --> 00:46:04,140 | and go into a little bit more of next year before you really get it. Some of you it's been with me for a long time that have been on the fence with wrestling |
| 262 | 00:46:04,140 --> 00:46:10,890 | with some of these things I've talked about thus far. And they've been a hindrance to you just don't know what it has been for you specifically, it's |
| 263 | 00:46:10,890 --> 00:46:20,910 | causing you not to get through that threshold, it's needed for you to find consistency with it. You'll find probably the first month or two. It'll happen |
| 264 | 00:46:20,910 --> 00:46:30,660 | for you. And I've already seen it with my private students. When I was doing private mentorship, which I don't do do a mentorship openly now. So stop asking |
| 265 | 00:46:31,590 --> 00:46:40,470 | the students ever held up in their learning. You just what I've been showing on Twitter, calling it live tweeting out, this is what it is, this is good that |
| 266 | 00:46:40,470 --> 00:46:49,590 | minute candle, watch it here. And it's going to go here, that alone. As simple as that was it pushed some of them now they're funded, and now they're making |
| 267 | 00:46:49,590 --> 00:47:02,340 | money. And they've been with me since 2016 unprofitable. And now all of a sudden, just because some tweets that I put out, real time they see it now |
| 268 | 00:47:02,370 --> 00:47:09,810 | something happened, the veil was lifted, and they're able to understand what it is they've been looking to do, but never really understood exactly what it is. |
| 269 | 00:47:10,590 --> 00:47:19,770 | And I'm not bringing in all the tools that's it's possible to be utilized, that you hear me teach and talk about in certain videos. Like if you look at the |
| 270 | 00:47:19,800 --> 00:47:28,770 | trading plan series, that's a lot of videos, it's a lot of stuff in here. It's meant to take you through the process those videos in the order that I put them |
| 271 | 00:47:28,770 --> 00:47:43,260 | out. That was literally That's literally how I came to be inner circle trader. It's been a whole social media experience for me to try to create another me |
| 272 | 00:47:44,820 --> 00:47:52,740 | doing the very things and presenting the very things that I came in to understanding in the order that came into my understanding with it. And I |
| 273 | 00:47:52,740 --> 00:48:01,260 | haven't seen one person do it yet, which to me, is interesting. I wanted to see if I could create that laboratory experiment where these are the ingredients. |
| 274 | 00:48:02,160 --> 00:48:14,160 | And boom powderpuff ICT version two pops out. So I don't view it as a failure. I just it's been very interesting to watch what has transpired over the time you |
| 275 | 00:48:14,160 --> 00:48:22,650 | teaching this stuff. But you can't take the whole series like the trading views Development Series. And think, okay, I knew everything now. No, they were just |
| 276 | 00:48:23,100 --> 00:48:36,540 | ideas to start implementing and give you some kind of framework to study. And then another lesson comes another idea, another specific element about price |
| 277 | 00:48:36,540 --> 00:48:47,610 | action, and how you as a trader can engage. Where does that thing usually manifest in price action? What time of day? What day of week? What year? Yeah, |
| 278 | 00:48:47,610 --> 00:49:00,060 | there's yearly cycles. What seasonal tendency of a year is better than others for what a certain type of price delivery, that seasonal tendencies. They exist, |
| 279 | 00:49:00,060 --> 00:49:10,170 | they exist in stock market, they exist in commodities. I'm sure if crypto lasts long enough, you'll see seasonal tendencies manifest there as well. I don't have |
| 280 | 00:49:10,170 --> 00:49:22,200 | any horse in the race in that. So I keep my hands on that cookie jar. But your model, you need to determine what that is. And I'm giving you the framework to |
| 281 | 00:49:22,200 --> 00:49:28,650 | try to do that this year. So you need to create that model independently and uniquely. |
| 282 | 00:49:29,910 --> 00:49:38,640 | On your own wants and desires as a trader, don't do what you see me doing. Because I've had students come to me and say, Look, you know, I can see what you |
| 283 | 00:49:38,640 --> 00:49:46,650 | taught last year on Twitter. I'm sorry, not on Twitter, but on YouTube. The 2020 model, the fair value got a shift in market structure. I can see after the fact |
| 284 | 00:49:46,650 --> 00:49:54,990 | that I just can't do it live. I can't see it happening and they're frustrated. So they think there's no other way besides that one. That's not true. That's not |
| 285 | 00:49:54,990 --> 00:50:04,350 | true at all. There's other ways to trade. I'll show you them. But I'm going to try to win work with the 2022 model predominantly, in the slight variations in |
| 286 | 00:50:04,350 --> 00:50:15,840 | that model that you will see that you probably didn't notice from the lessons I gave you last year. But I've been trading a lot with that model, intraday. Even |
| 287 | 00:50:15,840 --> 00:50:22,830 | after the moves start, I'm still using that model, you just can't recognize it yet, because you're not familiar with it. That's all. That's all it is. It's a |
| 288 | 00:50:22,830 --> 00:50:31,590 | new language you haven't learned yet. And it takes time. And it's boring in the beginning. That's why I'm doing all these types of discussions. Because the |
| 289 | 00:50:31,590 --> 00:50:37,380 | students that are really here to learn, you're here listening, and you're taking notes, the people that are going to be casual, they're not going to be |
| 290 | 00:50:37,380 --> 00:50:44,070 | profitable, they're not going to learn no matter how much I do live in front of them. As soon as I stopped doing the commentaries, they'll never find a winning |
| 291 | 00:50:44,070 --> 00:50:55,860 | trade. That's who they're going to be. That's not who I'm talking to. I have a certain group of students that are hardcore, they really want to know what's |
| 292 | 00:50:55,860 --> 00:51:02,970 | going on, and how to overcome themselves and learn how to read these markets, like a book they've read 2030 times, you know, the plot, you know, the |
| 293 | 00:51:02,970 --> 00:51:09,630 | characters, he probably can say verbatim what the next line is going to be in the next paragraph, because you've been here before. That's what experience |
| 294 | 00:51:09,630 --> 00:51:22,440 | does. In in the hands of a lay audience. When I show like what I've been doing with Twitter, it seems magical. But you're going to do the same thing. And don't |
| 295 | 00:51:22,440 --> 00:51:29,310 | be prideful about it. Don't build yourself up like you're something special. Because all I am is blessed, and I'm trying to share this life skill with you. |
| 296 | 00:51:29,730 --> 00:51:38,160 | And I want you to be responsible with it. So you have to define your, your trading model. So let's talk about defining that. What is the market, you're |
| 297 | 00:51:38,160 --> 00:51:48,690 | going to trade, to keep it easy to stop all the arguments. And also to keep my focus, which is important, it's important. And it's imperative that you keep |
| 298 | 00:51:48,690 --> 00:52:00,300 | your focus when you're first learning. I'm choosing to trade only the Standard and Poor's 500. s&p. But I don't want to trade that I don't care what you want |
| 299 | 00:52:00,300 --> 00:52:09,240 | to trade. I'm here teaching price action, take these lessons and apply it to whatever market you want to trade after we get through this year, because it all |
| 300 | 00:52:09,240 --> 00:52:22,320 | is the same. But I want to trade the Dow you don't trade the Dow, I just said I'm only teaching price action through one medium, the s&p, if that doesn't fit |
| 301 | 00:52:22,320 --> 00:52:32,490 | your expectations, go somewhere else. I was fine before you came here, I'll be fine after and I promise you, you'll be fine without me, you'll probably do |
| 302 | 00:52:32,490 --> 00:52:40,560 | something else and do very, very well. And I wish you the best of luck with it. But I'm not going to have it your way mentorship, okay, it's not going to be |
| 303 | 00:52:40,560 --> 00:52:51,030 | like that. I know how to do this, I know how to teach it. But also know that to keep the questions to a minimum. The keep the distractions to me as at a |
| 304 | 00:52:51,030 --> 00:53:08,700 | minimum, I'm only using one canvas. And I'm going to show you what little paintbrush selection, you need the pink of a costume now, I can't paint worth a |
| 305 | 00:53:08,700 --> 00:53:17,970 | shit be honest with you, I can't, I don't know how to do I can draw, I can draw very well. But I can't promise that every single time I sit in from the charts |
| 306 | 00:53:17,970 --> 00:53:28,200 | with you that it's going to be a Picasso every single time because I'm going to fall victim to manipulation, manual intervention. And I'll tell you when it's |
| 307 | 00:53:28,200 --> 00:53:36,780 | likely to occur so that you can see that sometimes forecast, you can forecast when it's going to happen. And or I will fall victim to it. And then you'll see |
| 308 | 00:53:36,780 --> 00:53:46,980 | me exactly as I teach you. Okay, we have now shifted to a period of time where it's not favorable for me to do this. And I'd be wasting my time doing what |
| 309 | 00:53:46,980 --> 00:53:55,500 | we're doing right now. And I'll close up shop. And so we'll resume on this session on this day. And you need to be prepared and be comfortable with that. |
| 310 | 00:53:55,680 --> 00:54:04,080 | Because you're going to do that same thing in your own trading. This because you sit down in front of charts, the market doesn't owe you shit doesn't owe you |
| 311 | 00:54:04,080 --> 00:54:11,940 | anything. It doesn't owe you your setup, your doesn't know your pattern. It doesn't owe you your are multiple you're trying to get and it doesn't owe you |
| 312 | 00:54:12,000 --> 00:54:22,980 | your fucking HTML leaderboard position you're trying to aim for audit your account is going to make you move over to some new stage that you pass the |
| 313 | 00:54:22,980 --> 00:54:36,600 | funded account. Like it doesn't owe you that. That's a that's a major hurdle for new traders. nobody owes you anything. You have to work your ass off for it, you |
| 314 | 00:54:36,600 --> 00:54:44,820 | have to earn it. And it's not going to be easy. And when you think you accepted the fact that it's going to be harder than you probably thought it was. Then |
| 315 | 00:54:44,820 --> 00:54:54,030 | when you're met with the reality that it's really harder than you thought it was going to be. That separates you from traders that are going to be here and |
| 316 | 00:54:54,030 --> 00:55:02,970 | endure it because if you give yourself enough time, you'll find consistency and consistency. consistency and profitably consistent isn't mean everyday |
| 317 | 00:55:02,970 --> 00:55:17,610 | profitable. But your model has to define what sound logic you're going to adopt. So you have to start with one market, I'm forcing all of you. Don't ask me about |
| 318 | 00:55:17,610 --> 00:55:24,150 | Euro dollar, I'll talk about it in daily commentaries on a daily chart, I'll tell you where I think it's gonna go. That's the draw on liquidity. I think |
| 319 | 00:55:24,150 --> 00:55:32,400 | that's where it's gonna likely go, you have to use everything I've already taught. To submit to does it reach there, I'm probably gonna be right, I'm |
| 320 | 00:55:32,400 --> 00:55:43,740 | probably gonna be wrong, I don't care. My focus is predominantly in. Yes. And you only need one market. You only need one market. Because if you know what |
| 321 | 00:55:43,740 --> 00:55:54,360 | you're doing, and you're trading well with sound logic and read price action correctly, your attention is dialed in laser precision, you're not distracted by |
| 322 | 00:55:54,390 --> 00:56:03,930 | anything else. I don't care what bitcoins doing. I don't care what crude oil is doing. I don't care what the British pounds done. I don't care. I sure as fuck |
| 323 | 00:56:03,930 --> 00:56:12,870 | don't care what Yen is doing. So all those things are a distraction to me. I don't care about those things. I don't care what the other guy on the YouTubes |
| 324 | 00:56:12,870 --> 00:56:24,570 | doing. I don't care. This new book just came out. They're all things that's gonna distract me. I have a I have an agenda that the follow this year. And I |
| 325 | 00:56:24,570 --> 00:56:33,690 | have to be disciplined. And it may sound like I'm all over the place. But I'm literally I'm literally reading bullet points. So I'm, I'm on focus. I'm not |
| 326 | 00:56:33,930 --> 00:56:40,770 | down rabbit holes. I know exactly where I'm going. And I know where we're going as we get through this discussion. But if you already feel uncomfortable, I |
| 327 | 00:56:40,770 --> 00:56:52,050 | guarantee you, you're not going to do well here. If you're impatient, get to it. Get to it, Michael, like Tom Hall guard reached out to him the other day? Not a |
| 328 | 00:56:52,080 --> 00:57:03,900 | lot of you have said hey, have you seen Tom? At messaging in private? I said, yeah, a lot of my students have mentioned you. Unfortunately, with all due |
| 329 | 00:57:03,900 --> 00:57:13,020 | respect, I've never heard of you before. But I've watched a couple of videos over the last week or so. And I just ordered his book. So I'll be taking that in |
| 330 | 00:57:13,020 --> 00:57:26,280 | digesting it when I get it. But I believe, I believe he was referring to me in the 26th presentation does like a commentary over the charts, much in the same |
| 331 | 00:57:26,280 --> 00:57:39,450 | way I do with Twitter, but he's doing it like I think audibly sharing it live. And he mentioned that. It I do tend to be long winded things like okay, you |
| 332 | 00:57:39,450 --> 00:57:53,160 | know, get with it, you know, get you get to where you're going. Unfortunately, that is something I try to overcome, because I want to make sure I'm efficient. |
| 333 | 00:57:53,850 --> 00:58:05,760 | But I care more about making sure I am satisfied with the level of content that I'm producing. I don't I don't really care if people think I'm long winded |
| 334 | 00:58:05,790 --> 00:58:12,840 | because they're not going to say well, that was a half assed approach to teaching something, I know what I'm saying matters, because you're going to |
| 335 | 00:58:12,840 --> 00:58:22,650 | refer to these things I'm talking about at a later time. And then you're going to go back and listen to a video and listen to a lecture and say, damn it. He |
| 336 | 00:58:22,650 --> 00:58:29,640 | said that shit. And I didn't pay attention to it. And now I'm dealing with it. If I just want to listen to it and have it in my notes and refer to it, have it |
| 337 | 00:58:29,640 --> 00:58:37,020 | in the forefront of my mind going in. These are these are hurdles. This is someone that's been doing it for 30 years, I lost a lot of fucking money, folks. |
| 338 | 00:58:37,440 --> 00:58:48,180 | I've lost a lot of money doing stupid shit. Do you want to go through it to learn the lesson? I mean, think about it. Do you want to learn that way? And |
| 339 | 00:58:48,180 --> 00:58:55,920 | because that's what everybody else does. All I'm trying to be as a conduit. So that way you don't do those things. I'm not promising you're gonna get rich, I |
| 340 | 00:58:55,920 --> 00:59:03,840 | promise you, you're gonna work your ass off. But you do the things I'm telling you to do. You could, you could be seeing what these young men and women are |
| 341 | 00:59:03,840 --> 00:59:14,460 | doing all around the world right now with real money. And that's undeniable. And I'm not hand holding them. So you have to have your focus. And you have to |
| 342 | 00:59:14,460 --> 00:59:23,040 | tolerate being taught correctly. And when you go to college, and you listen, these people, and they may be up there teaching and may never have ever done |
| 343 | 00:59:23,040 --> 00:59:26,100 | anything in the field that they're doing. They're lecturing and teaching on. |
| 344 | 00:59:27,930 --> 00:59:39,510 | How many fights do these boxers in their trainers? How many? How many trainers have those fight managers there's, there's trainers, how many world titles that |
| 345 | 00:59:39,510 --> 00:59:52,560 | they hold. There's an argument that's being constantly perpetuated, that if you teach you can't do I'm proven I can do it asking you to be responsible as a |
| 346 | 00:59:52,560 --> 01:00:02,550 | student and filter out all the bullshit because you're gonna see if I know what I'm talking about right away if you haven't already noticed But your limitation, |
| 347 | 01:00:03,000 --> 01:00:14,760 | and distractions are managing that. I'm also managing my own as a human being, I'm not AI, I'm a real person, I'm easily distracted, I'm easily pissed off, I |
| 348 | 01:00:14,760 --> 01:00:23,610 | can fire off you while you're now hearing it, right? That's the mood shifts that I have to wrestle with all the time. In in the marketplace, you'll have that. |
| 349 | 01:00:25,170 --> 01:00:33,180 | You won't see that manifest in me doing live sessions, you'll never see me go off the rails over the charts. That is absolutely when I'm 100% disciplined. |
| 350 | 01:00:33,840 --> 01:00:46,470 | That took 30 years to get that you're never going to hear me. Oh, this son of a bitch. unit's never going to happen. I don't look at a result that's adverse in |
| 351 | 01:00:46,470 --> 01:00:53,490 | the marketplace. Whether I'm in a trade live, or when I'm in front of you calling into something else. I'm never going to hear you've never been here, |
| 352 | 01:00:53,490 --> 01:01:08,040 | Miko, luksic. That doesn't happen. Because I know, I know me. I know my model. And I know that what I'm doing will repeat. So there's no fucking reason for me |
| 353 | 01:01:08,130 --> 01:01:19,410 | or you to get into an emotional response to what the markets doing. There's absolutely no reason for that. None. Because as soon as you do that, as soon as |
| 354 | 01:01:19,410 --> 01:01:29,640 | you do it, you have now recorded in the annals of history in terms of you as a trader internally, that's a bad experience. And you're going to do everything in |
| 355 | 01:01:29,640 --> 01:01:40,620 | your power to avoid that again, that means what? Pushing the button, you're going to, I don't want to take it on the last day, I'm down 5%, because I didn't |
| 356 | 01:01:40,620 --> 01:01:56,370 | listen to sound logic and say, to losers, and stop. So I'm managing at the, my best. These are the things I've thought about this over the holiday break, how |
| 357 | 01:01:56,370 --> 01:02:08,370 | am I going to manage all of you? How am I going to manage all your personnel like flaws and characters that are impulsive? With a clean conscience, I'm doing |
| 358 | 01:02:08,370 --> 01:02:16,200 | everything I can, but you still have the responsibility of not pushing a button. While you're learning how to do this. The worst thing that can happen is if I |
| 359 | 01:02:16,200 --> 01:02:23,400 | get up there that call something that I believe firmly that the market is likely to do and it doesn't deliver and you push the button you got a lot of trade on, |
| 360 | 01:02:23,520 --> 01:02:32,100 | you're going to determine that as the that's the reason why it doesn't work. And that shouldn't learn from Michael, I shouldn't even worry about this stuff. I |
| 361 | 01:02:32,100 --> 01:02:42,090 | think you go out there and start plating, trading and supply and demand. Elliott Wave or whatever else that catches your eye. And that would be unfortunate. |
| 362 | 01:02:42,090 --> 01:02:56,160 | Because one trade one transaction one week, one month is not a narrative for success or failure. But as a new student, a new trader in development, it's easy |
| 363 | 01:02:56,160 --> 01:03:14,220 | to establish rather an opinion based on not enough evidence. Because you're you're going into this with a great deal of skepticism, and it's healthy. That's |
| 364 | 01:03:14,220 --> 01:03:22,500 | normal. And you I'm encouraging you to be that way. I want you to be that way. I don't want you to believe me, because I fucking make a video and record myself |
| 365 | 01:03:22,500 --> 01:03:31,830 | doing it. I want you to sit with me. Sit with me and watch me talk about every one one minute candle. Because every every single one of those candles, even the |
| 366 | 01:03:31,830 --> 01:03:42,720 | smallest that is that one minute candle has a storyline. It's telling you something, you need to be understanding real time when I'm not going to be doing |
| 367 | 01:03:42,720 --> 01:03:51,630 | this. By experience. You've seen it you've walked it before. You've been down this road before you know where that Rottweiler is, you know, in the hole in the |
| 368 | 01:03:51,630 --> 01:03:57,660 | fence. If you get too far and close to it. It's going to rip us apart. So you get what you have experienced right? Gently you walk down and you know I'm |
| 369 | 01:03:57,660 --> 01:04:04,230 | coming across the other side of the road doesn't mean you're weak doesn't mean you're scared. This means that that's stupid. I'm not walking over here in front |
| 370 | 01:04:04,230 --> 01:04:11,460 | of this fucking nice shirt I'm wearing. I'm not tearing up my clothes. I'm like it not tore up. That's experience but some of you just want to walk down the |
| 371 | 01:04:11,460 --> 01:04:19,470 | road and get your ass tore up and say that I did it to it thing and look at like the like the scene from Jaws everybody's showing their scars or uses the wound. |
| 372 | 01:04:19,470 --> 01:04:28,410 | I gotta look at this one. I got one better than yet. Trying to keep up with the Joneses. Fuck the Joneses. Carl Jones is the person you're trying to avoid. You |
| 373 | 01:04:28,410 --> 01:04:40,410 | don't want to be friends with him. If there's a Carl Jones, listen, it's it's fictitious. It's just it's just for comedic relief here. Carl, Carl is always |
| 374 | 01:04:40,410 --> 01:04:47,760 | trying to get the employee of the week that's the it's the person is always trying to one up somebody. Okay, that's the that's the person you don't want to |
| 375 | 01:04:47,760 --> 01:04:57,030 | be in trading. The guy that does something better. The guy that knows something more. That's has more experience has this. You don't want to do that. Okay, |
| 376 | 01:04:57,060 --> 01:05:06,030 | nobody gives a shit about that. And that shouldn't be your motivation on learning. So I'm managing all these types of things that I've had in doored over |
| 377 | 01:05:06,030 --> 01:05:16,560 | the years as a mentor, and I'm forcing all of you to look at one market and I know that it's going to alienate some of you. And I'm asking you to be |
| 378 | 01:05:16,980 --> 01:05:28,260 | considerate to the idea that I am doing my best to teach you price. The things that I'm going to show you in this one market, they occur in forex. So if you're |
| 379 | 01:05:28,260 --> 01:05:40,410 | only going to be a forex trader, and you can't trade futures, that's fine. This stuff works there, too. If Bob Ross was painting on somebody else's canvas with |
| 380 | 01:05:40,410 --> 01:05:52,050 | somebody else's brushes, he'd still be able to paint the way he can paint. I'm teaching you how to paint in these charts. That way you can see these things, |
| 381 | 01:05:52,650 --> 01:06:00,780 | pan out and work with them. It matters not what the instrument is. Some of you may like, well, you know, I'm gonna be trading crypto, and I'm gonna be using |
| 382 | 01:06:00,780 --> 01:06:10,530 | it. Okay. I'm not cosigning that. But if that's where you're going with it, that's that's on you. I don't have any experience in it. That's why I don't talk |
| 383 | 01:06:10,530 --> 01:06:18,240 | about crypto. That's why I don't trade it. I'm never ever going to get up there on a live stream and say, This is what I'm not doing that. That's not my forte. |
| 384 | 01:06:18,570 --> 01:06:30,810 | My forte is futures. That's where I started 1992 And then I segwayed into Forex, forex right now look at this week, for some of you that are arguing in them, and |
| 385 | 01:06:30,810 --> 01:06:38,400 | you're angry at me right now. You're cussing me right now. This son of a bitch ICT, you said you were going to I said I was going to do analysis every day |
| 386 | 01:06:38,400 --> 01:06:46,110 | Monday through Friday on forex? Yes, I did say that. I did not say I was gonna sit down in front of you and call the shots on forex every single day. No, I |
| 387 | 01:06:46,110 --> 01:06:56,880 | didn't say that. I said I was gonna do that with the stock index market. Yes, that's what I'm selling in on. You'll see NASDAQ come in where it's useful. But |
| 388 | 01:06:56,880 --> 01:07:09,510 | I'm going to only talk about the setups in E Mini s&p. Why? Why are you holding back from us ICT I'm not, I'm giving you every advantage of doing everything the |
| 389 | 01:07:09,510 --> 01:07:18,000 | right fucking way. And you just got to trust me on it. Trust me. It's all I'm asking you to do, then you can send me a PayPal payment. You can swipe any |
| 390 | 01:07:18,000 --> 01:07:26,130 | fucking credit cards with me. I'm sitting here on my weekend, pour myself into you, I'm never going to meet you. You're not going to shake my hand, we're not |
| 391 | 01:07:26,130 --> 01:07:33,390 | going to have dinner, you're not going to be introduced to my wife, my kids are not gonna spend time with you. I am showing you the greatest consideration that |
| 392 | 01:07:33,390 --> 01:07:46,470 | anybody else would do for free. Don't come to me and say, Fuck you ICT, you're not doing it the way I want. Go somewhere else. Go somewhere else. You want to |
| 393 | 01:07:46,470 --> 01:07:56,970 | learn how to make a lot of fucking money show up every day. You want to learn how to control yourself in the markets show up every day, you want to learn how |
| 394 | 01:07:56,970 --> 01:08:06,900 | to manage draw down and come out of it. Show up every day. How to avoid when the trades are not likely to pan out show up every day. But only gonna be able to |
| 395 | 01:08:06,900 --> 01:08:16,260 | teach that effectively with one market. Look at Forex. Look at I've told you what I believe was going to happen. I told you exactly what I expected to see |
| 396 | 01:08:16,260 --> 01:08:28,020 | happen in dollar index, and euro and cable have only only been partially correct. Now contrast that with the laser guided fucking precision that you've |
| 397 | 01:08:28,020 --> 01:08:39,510 | been seeing me do with ES daily. Since the beginning of the year, you're going to ask me why am I not talking about forex? Is there not a better picture been |
| 398 | 01:08:40,230 --> 01:08:50,700 | explained than that? If I know what my if my personal precision is going to be off? If I know that I'm going to have adversity in trading an instrument? Why |
| 399 | 01:08:50,700 --> 01:08:58,530 | the hell would I go in there and try to trade with with money? Why would I do that? And why the hell would I want to do it publicly in front of you, right? |
| 400 | 01:08:58,980 --> 01:09:05,910 | That's stupid. That's asinine. But I understand that your infancy coming to me you haven't been doing it long enough. You think that I should be pulling |
| 401 | 01:09:06,240 --> 01:09:11,790 | signals out of my ass with Eurodollar and POUND DOLLAR every five fucking seconds. And that's not how it works. |
| 402 | 01:09:13,110 --> 01:09:23,130 | That's not how this works, folks. There has to be a reason to do it. There has to be a reason to be expecting high probability conditions. And if you don't |
| 403 | 01:09:23,130 --> 01:09:35,370 | have a way of defining what that is, or knowing what it is, having experienced, engaging in price with that, then it comes to no surprise that you have people |
| 404 | 01:09:35,370 --> 01:09:45,090 | saying well, you know I'm disappointed because you're not doing Forex. I'm thankful I'm not trading Forex right now. I would be frustrated right now. |
| 405 | 01:09:45,570 --> 01:09:55,740 | Because the market is shit in forex right now. Company compare it with what I've been showing you in the image, even the s&p That's beautiful price action, |
| 406 | 01:09:55,740 --> 01:10:03,390 | folks. That's exactly what the fuck you're looking for, but you don't recognize it yet. You don't even know what you're looking at. That's exactly what you're |
| 407 | 01:10:03,390 --> 01:10:12,630 | looking for. As a trader, a trader sees this market, it says, it's going to go up to this level, it's going to come down to this level, it should respect this |
| 408 | 01:10:12,630 --> 01:10:24,480 | level. And it should go here next, not all over the fucking place, chopping this wild price swings. That means nothing. But you're gonna see these jokers on |
| 409 | 01:10:24,480 --> 01:10:40,080 | social media showing her 25 executions on Mt. Four, and the same instrument with $27,000 supposedly profit next to it. Those people aren't on the FTM o board. So |
| 410 | 01:10:40,170 --> 01:10:48,270 | why the fuck it was necessary. I mean, if you can do that, do it on those funded accounts and do there. But that's the shit you fall victim to, you'd like that |
| 411 | 01:10:48,270 --> 01:10:57,210 | stuff. You want to see that shit. Because you think that that because it makes you feel cool at me if I could do that. I will be respected by people online |
| 412 | 01:10:57,300 --> 01:11:07,020 | that don't give a fuck about you. They don't care about you. So you're you're trying to chase things that are not going to deliver what you really want. I |
| 413 | 01:11:07,020 --> 01:11:14,610 | don't give a fuck who likes me, who believes me, I don't care. I'm doing what I want to do. Because I like doing it. I'm living my life. I'm in my own fucking |
| 414 | 01:11:14,610 --> 01:11:24,480 | lane. As a trader, that's what I'm trying to do. And when you do this, and you're trying to make money, that's all you're doing it for. That's it. If |
| 415 | 01:11:24,480 --> 01:11:32,880 | you're doing this for any other reason, but then make money, you're fucking off, you're doing it wrong, you're doing it absolutely incorrect. Because if you're |
| 416 | 01:11:32,880 --> 01:11:43,290 | doing it for other things like pride, ego status, clout, guess what that's going to do, it's going to invite you into trying to perform better than somebody else |
| 417 | 01:11:43,290 --> 01:11:51,060 | that has the hot hand right now. And right now I have the hot hand. And then you see all these other people that are coming at me, because they're insignificant, |
| 418 | 01:11:51,900 --> 01:11:57,990 | they're not happy in their home. Because if they're happy in their home, they would still just be dealing with the fucktard billing, and people would |
| 419 | 01:11:57,990 --> 01:12:03,540 | recognize that and appreciate that, hey, you know what, you're not getting caught up and all that drama bullshit, you're still just delivering, you know |
| 420 | 01:12:03,540 --> 01:12:14,040 | what, that's why I tap that guy, Patrick Wiley. Once a man he talks his shit, you know, he's a character. And that's cool, I can appreciate the same way. It |
| 421 | 01:12:14,040 --> 01:12:22,200 | kind of makes it breaks up the monotony. But when it comes time to push the button, the man's pushing it. And he's shown that he makes money. Now, every |
| 422 | 01:12:22,200 --> 01:12:31,740 | day, I've seen him, you know, give up some some losses here and there, I'm gonna give up some wins. But he's pushing it every day in front of people that |
| 423 | 01:12:31,740 --> 01:12:37,980 | sometimes are talking shit, I can't do that. Because it's a distraction, I want to smack them in the face with a sledgehammer. When I see shit like that. I want |
| 424 | 01:12:37,980 --> 01:12:45,090 | to show them they do nothing. But if I do that, it's taking my attention from where the charts. So that's why when you see me doing live sessions, I'm not |
| 425 | 01:12:45,090 --> 01:12:53,580 | going to have the chat window open. I could give two fucks what your opinion of me is, I'm literally reading the tape. That's it. Okay. And when I'm done this |
| 426 | 01:12:53,580 --> 01:12:59,250 | year, you can criticize me and write all the reviews and talk all the bullshit, you want to talk about me, but you're not going to change the fact that these |
| 427 | 01:12:59,250 --> 01:13:10,800 | motherfuckers all around the world are making money now. And they did the work they showed up every day. So back to mindless. So you need to know what what |
| 428 | 01:13:10,800 --> 01:13:17,610 | market you're following. I'm forcing the s&p as the teaching medium, understanding that everything that is going to be applicable to everything else, |
| 429 | 01:13:17,760 --> 01:13:27,960 | and what style of trading I'm forcing day trading in the morning session, I'm forcing that on you. Well, I want to do that it doesn't matter. Because the same |
| 430 | 01:13:27,960 --> 01:13:35,100 | things I'm teaching you, I'm going to teach you how to apply to every other timeframe. That really other style of trading, I'm not going to effectively be |
| 431 | 01:13:35,100 --> 01:13:45,180 | able to teach you long term position trading. Think about it. Like okay, here's here's the daily chart. We're gonna take a long here, the stop here, and we're |
| 432 | 01:13:45,180 --> 01:13:51,210 | expecting it to go to how long is that going to take? Who the fuck knows? I don't know, I don't have time, you're gonna you're gonna wait to the next video |
| 433 | 01:13:51,210 --> 01:13:57,900 | update for that. Hell no, you're not somebody you're chomping at the bit. You're constantly looking at Twitter, and my do I have my notifications on? So I knew |
| 434 | 01:13:57,900 --> 01:14:07,530 | it should be tough some sharing now. You're already wired, you're already hardwired to do what I'm training you to do. So roll with it. So that morning |
| 435 | 01:14:07,530 --> 01:14:17,700 | session, we're gonna be focusing on that. So what timeframe Are you going to trade in? What's your model going to be? I'm forcing you to use the weekly |
| 436 | 01:14:18,450 --> 01:14:27,030 | expansion. In other words, I'm going to walk through. And I'm going to constantly remind you each time we do a session, what the weekly expansion is. |
| 437 | 01:14:27,060 --> 01:14:35,130 | So that sets the tone for where's the largest magnitude of volatility in what direction likely to be. It doesn't mean that there isn't going to be moves that |
| 438 | 01:14:35,130 --> 01:14:45,780 | go against that throughout the course of the week. It just means that I want to be where the gunpowder is, like I want to be in there putting in trades when |
| 439 | 01:14:45,780 --> 01:14:57,570 | it's likely to go to fuck off and just run explosively. So when I'm sitting on the weekend, like I'll do tonight, once I'm done doing my fatherly and husbandly |
| 440 | 01:14:57,600 --> 01:15:08,010 | things with my family and When they go to sleep, then I resign myself to my office. And then I pour over my charts. And I'm looking at specifically the |
| 441 | 01:15:08,010 --> 01:15:18,480 | weekly chart. And I, I spend more time on that weekly chart than I spend on any other timeframe. What the hell do you just say? Who will ever see you talk about |
| 442 | 01:15:18,480 --> 01:15:28,650 | a weekly chart, we only see these one minute, one minute candlestick, right. And that's what I'm talking about. See, you only see the result of 30 years |
| 443 | 01:15:28,650 --> 01:15:38,400 | experience being shown to you real time, but you aren't there, when I'm putting in the time, over the charts, studying and looking for the things and weighing |
| 444 | 01:15:38,400 --> 01:15:48,120 | out things with my own personal experience, logging and journaling in my own journals, all those things, that's what gets me or has recently has allowed me |
| 445 | 01:15:48,120 --> 01:15:57,420 | to reach the level of precision you see me doing. And it didn't happen overnight. It wasn't a quick thing, and it's not going to be quick for you. And |
| 446 | 01:15:57,420 --> 01:16:03,720 | I'm not trying to sugarcoat it, I'm telling you upfront, I tell you, every time in these videos, you're going to fucking lose money, it's going to be harder |
| 447 | 01:16:03,720 --> 01:16:12,480 | than you want it to be. It's going to be easy to want to quit. But you have to dig your heels in and just show up, you have to show up. Because when you start |
| 448 | 01:16:12,480 --> 01:16:21,090 | trading with real money, should you ever decide to do that. You're gonna have times when you start going in drawdown, you're gonna lose, and you need to make |
| 449 | 01:16:21,090 --> 01:16:32,640 | decisions, and they need to be rooted in sound logic. What's the next step, if you're going to draw down another trade, same risk, more risk, no stop loss, you |
| 450 | 01:16:32,640 --> 01:16:40,800 | have to have rules, you have to have a process to manage yourself. Because unless you manage you, it's over. Doesn't matter what system you're using, |
| 451 | 01:16:40,800 --> 01:16:47,940 | doesn't matter who your guru mentor is, it doesn't matter if ICT can turn other people into profit students, if you fuck up, and you go off the rails, and you |
| 452 | 01:16:47,940 --> 01:16:56,520 | don't follow the processes and rules I'm gonna lay down for you, you're gonna blow it, and who's gonna get the fault for that, you know, you're gonna blame |
| 453 | 01:16:56,520 --> 01:17:05,100 | me, you're gonna blame me. But everybody else that's making money and it's found consistency are just going to be saying, No, you're full of shit. So you're not |
| 454 | 01:17:05,130 --> 01:17:15,750 | gonna get the outcome you want there either. That's why when I push this in the videos, I talk about in the lectures, okay? These are the parts where you, you |
| 455 | 01:17:15,750 --> 01:17:24,090 | got the message, you understand, but there's a lot of you that don't. And I am not going to be guilty of not at least pushing the idea that this is risky shit. |
| 456 | 01:17:26,160 --> 01:17:36,120 | I'm not oblivious to that. But some of you are. And I need to make sure that you understand, if you do things half ass, you are going to get your ass handed to |
| 457 | 01:17:36,120 --> 01:17:36,360 | you. |
| 458 | 01:17:37,890 --> 01:17:44,790 | That's the way it works in this business. You can't, you can't sugarcoat it, you can't, I can't, as a teacher, as a mentor, I can't do that. It would be |
| 459 | 01:17:45,030 --> 01:17:54,870 | unethical, it would be irresponsible for me to sit here and try to make it sound like everybody walks in here and we all get rich. Man, if it was like that, I |
| 460 | 01:17:54,870 --> 01:18:04,080 | would love it. That would be great. But unfortunately, the reality is, that's not true, you're gonna have to work really hard for this. So you need to decide |
| 461 | 01:18:04,110 --> 01:18:13,980 | what time for you to trade in on that weekly chart, I do my top down. And then I get myself to a point where inside of a specific element of time in a day, I'm |
| 462 | 01:18:13,980 --> 01:18:25,140 | looking for one and five minute entry techniques to deliver on a 15 or an hourly framework. So that's why I can take a trade that even though it's one a one |
| 463 | 01:18:25,140 --> 01:18:37,590 | minute chart, I'm getting five to 110 to 112, the one are multiples on a one minute candlestick chart. That's it. Very, very small risk. Now, don't fall in |
| 464 | 01:18:37,590 --> 01:18:45,960 | love with the small risk. Because I'm going to teach you how to be responsible, and not try to get these really, really small stop losses in the beginning, you |
| 465 | 01:18:45,960 --> 01:18:53,460 | will learn that this year. But in the beginning, it's irresponsible of me to try to paint this watch, I'm going to get you in here and we're going to use to |
| 466 | 01:18:53,460 --> 01:19:03,750 | handle stop losses. I'm going to show you how you can do that. But be responsible in your expectations going forward. Because in the beginning, I'm |
| 467 | 01:19:03,750 --> 01:19:13,560 | not doing a crash course on laser guided precision with ultra slim stop losses and mega are multiple profits that I'm not promising you that I'm showing you |
| 468 | 01:19:13,560 --> 01:19:21,660 | how to read the tape, you're gonna be able to find one good setup per week. That's my guarantee. One good setup. But that's not getting me rich Michael, if |
| 469 | 01:19:21,660 --> 01:19:31,470 | you take that one concept and apply it and multiply it over and over and over again, and you sound money management, that same pattern exists each day. But |
| 470 | 01:19:31,470 --> 01:19:41,850 | you have to discover what it means to be disciplined and say, Okay, I don't know what I'm doing. I need to control myself. I need to pace myself and not expect |
| 471 | 01:19:41,850 --> 01:19:52,410 | to be able to do this every single day as a neophyte. a neophyte comes in with a great deal of fear of failure. How do you conquer that fear? Do what you're |
| 472 | 01:19:52,410 --> 01:20:01,800 | supposed to do one time for the week and Stockman in this observe the rest of the week and see how many times you would have got it wrong. long after that, |
| 473 | 01:20:02,220 --> 01:20:10,260 | but safely on the sidelines without committing anything with your demo account, oh, you're talking about demo, you need to learn in a controlled environment, |
| 474 | 01:20:10,410 --> 01:20:18,750 | you cannot learn this risking real money. You can't, you cannot, I don't give a fuck, who tells you don't give a fuck how much money they may, and they're |
| 475 | 01:20:18,750 --> 01:20:29,820 | trying to teach you that I don't give a fuck. Because as soon as you equate the outcome of an experiment, or a laboratory study or case study and price action, |
| 476 | 01:20:29,970 --> 01:20:40,260 | it only is favorable, if it makes you money. If you're learning like that, in the beginning, you are training yourself, you're teaching yourself to worry |
| 477 | 01:20:40,260 --> 01:20:50,760 | about the outcome monetarily, when the whole function should be is the market delivering price exactly it has expecting it to do because once you place the |
| 478 | 01:20:51,120 --> 01:20:57,480 | protective stop loss on and you have already mapped out where your partials are gonna go and what your Terminus where the end result is the goal of your trade. |
| 479 | 01:20:59,340 --> 01:21:06,780 | I don't give a fuck what the outcome is in terms of money. What I'm doing when I'm doing my partials, I don't have it calculated, I'm gonna make this much on |
| 480 | 01:21:06,780 --> 01:21:14,070 | that first partial, I'm gonna take that I'm not doing all that math. I'm looking at the chart. The chart says this is what the price runs likely to do now, |
| 481 | 01:21:14,220 --> 01:21:25,200 | where's my stop, this is where my stuff is gonna go. Okay, how much is in terms of the full range, I'm looking for a minimum of 10 handles. If it can't offer me |
| 482 | 01:21:25,200 --> 01:21:34,770 | 10 handles, I don't give a shit about that mean. Why? Because I'm teaching you not that I can't go in here and find three handles every, every 15 minutes, I |
| 483 | 01:21:34,770 --> 01:21:45,870 | can pull out three handles, you won't see me do it this year, I will. The point is I'm teaching you, you that person that doesn't have any experience, I'm |
| 484 | 01:21:45,870 --> 01:21:57,360 | showing you how to go in because comfortable, not be scared, not have anxiety about what the hell you're doing and what's going to happen. They're gonna stop |
| 485 | 01:21:57,360 --> 01:22:08,820 | me out. There are certain segments of the of the time in intraday price action on a daily range, where factors are very favorable for you to go in and manage |
| 486 | 01:22:08,820 --> 01:22:18,540 | risk responsibly and have a reasonable expectation, the market will likely do a specific thing. That's why I teach the way I do it, because it's algorithmic. |
| 487 | 01:22:20,010 --> 01:22:27,990 | These things should manifest themselves in price. And if they don't, it's good for you to be out of it be stopped out and be done, go to the next session or |
| 488 | 01:22:27,990 --> 01:22:35,400 | don't trade the rest of the day. And some of you already are communicating that you don't have the discipline to not pull the trigger when I'm calling these |
| 489 | 01:22:35,400 --> 01:22:43,080 | moves now, because you're trying to make money. And you're doing it wrong. You're absolutely fucking doing it wrong. At the end of the year, when I'm no |
| 490 | 01:22:43,080 --> 01:22:49,350 | longer doing this, and you didn't learn what you should have learned you're going to be back at square one scared shitless because you're going to do a |
| 491 | 01:22:49,350 --> 01:22:56,970 | couple trades on your own and they won't pan out and you're going to think ah, they changed the algorithm. It T shirts finally been mainstream now it's the new |
| 492 | 01:22:56,970 --> 01:23:04,470 | retail it's not going to be the rockin fucking new retail. It I'm teaching you the market. I'm teaching you how the markets book price, it is what it is it |
| 493 | 01:23:04,470 --> 01:23:13,440 | isn't going to fucking change. It's not going to diminish. It's not going to if anything, it's going to get better. As technology becomes more advanced, the |
| 494 | 01:23:13,440 --> 01:23:22,710 | precision elements, the static bullshit that you see in certain times of the day, that's going to go away. It's gonna be smoother. I'm excited about the |
| 495 | 01:23:22,710 --> 01:23:32,670 | fucking future. I'm that scared it's gonna stop. But I understand how it feels you found the goose that lays golden eggs and you just don't want it to die. |
| 496 | 01:23:35,640 --> 01:23:48,990 | Listen, even when ICT has gone on to greener pastures, the shits still gonna be working. And I'm gonna be echoing your mind every week, every day, and it won't |
| 497 | 01:23:48,990 --> 01:23:59,460 | stop. When are you going to start trading? Your model has to have that you have to know when are you going to pull the plug say okay, I've lost enough today. |
| 498 | 01:23:59,850 --> 01:24:09,180 | And it might be just one trade. That's your threshold. That's it, I'm done. I'm not going to allow myself to go into a period of mental drawdown which is much |
| 499 | 01:24:09,180 --> 01:24:19,710 | more expensive than financial drawdown because financial drawdown is finite. It's it's limited to what it is. But when you have a losing trade or series of |
| 500 | 01:24:19,710 --> 01:24:30,960 | losing trades, how many times that fucker haunt you? I can tell you and think about things that I endured in the 90s that just the mere mention of them are |
| 501 | 01:24:30,960 --> 01:24:38,760 | reading that journal causes me to have anxiety because I can relive that moment. That's why journaling is important because it takes you right back to that |
| 502 | 01:24:38,760 --> 01:24:46,770 | moment. Right then in there. And you can relive it. It's not like these jokers on social media. I'm gonna tell you a trade off today. I think I got it over |
| 503 | 01:24:46,770 --> 01:24:55,740 | here. The fuck outta here. Get out of here. If you took a trade you're gonna show us where the fuck your trade entry was. You're gonna think oh, I was in I |
| 504 | 01:24:55,740 --> 01:25:03,360 | think it was around here. I think I did. I don't know how many contracts the fuck out of here. But you're, you're wasting your time. Listen these people, |
| 505 | 01:25:03,990 --> 01:25:17,760 | you're listening to these jokers you need to know when to stop. Stop listening to ICT. You've you've watched enough videos for today when he got to stop your |
| 506 | 01:25:17,760 --> 01:25:31,320 | trading when you make money, are you stopping? No, no, no, no, no, no, no, no, we can't do that shit. We still got the afternoon session about five G's baby |
| 507 | 01:25:31,380 --> 01:25:41,040 | five G's. It's the easiest fucking money ever made my life. I'm gonna double it. I can't wait until 132 o'clock. As you said, the next move happens then. And I'm |
| 508 | 01:25:41,040 --> 01:26:00,840 | going all in Texas fucking Hold'em YesStyle, we're going all in. You get fucked on the turn. We record your history, see you later. Because you don't have |
| 509 | 01:26:00,840 --> 01:26:16,920 | limitations, you don't know when to stop when it's a good thing enough. That's why I presented that series ends. If you've listened to me, and you've adopted |
| 510 | 01:26:16,920 --> 01:26:27,930 | this mindset, you're going to get rich real quick. That's the that is unfortunate. Because I want you to first master yourself. And it's going to take |
| 511 | 01:26:27,930 --> 01:26:37,860 | you a year and a half, two years, really to do that. It ain't this 30 days to replace a bad habit. Fuck that. Let me tell you something. If it was that easy, |
| 512 | 01:26:38,040 --> 01:26:50,550 | I would have been a whole lot better sooner. This is something totally different. You have never done anything like this. Ever, ever. Because as much |
| 513 | 01:26:50,550 --> 01:26:59,880 | as other people may troll me. Because I don't do what they want me to do. Dance for them the way they want me to dance to the tune they want to play fuck them. |
| 514 | 01:27:00,660 --> 01:27:11,010 | You do what I do. That's all I'm asking you to do. And it costs me nothing. I get this. Put your calls out there live where it should go where it shouldn't |
| 515 | 01:27:11,010 --> 01:27:34,290 | go. But you have to know where your limitations are stop. You make money. What's enough? Where what is your rent payment? What is your mortgage payment each |
| 516 | 01:27:34,290 --> 01:27:34,590 | month? |
| 517 | 01:27:38,430 --> 01:27:47,280 | That's where you should be focusing if I could just get half of that a month. Listen, listen, folks, nobody's writing a fucking book about this. Nobody is |
| 518 | 01:27:47,280 --> 01:28:01,080 | going to to a teaching series like like that. I did. And you wonder why this industry is plagued with so many failures. Because your expectations are too |
| 519 | 01:28:01,080 --> 01:28:10,320 | high. You want Olympic gold results on every fucking trade. And that's not realistic folks. And you expect it to be daily. And it's not realistic either. |
| 520 | 01:28:12,390 --> 01:28:23,130 | The flavor of the month right now is I want to make $100,000 a month. That Well that's certainly commendable if you can obtain that. But is it realistic for me |
| 521 | 01:28:23,160 --> 01:28:32,820 | as an educator, or you as a new student to think that you can walk out here in your first year doing that? I never do that kind of fucking shit. I don't ever |
| 522 | 01:28:33,000 --> 01:28:45,300 | promote some unrealistic threshold that you should strive for 6% a month is going to be hard for you in the beginning. So what happens if you only make 1% a |
| 523 | 01:28:45,300 --> 01:28:59,940 | month? Is that failure? Fuck now some of you don't know math. Like you lose sight like you, like you forget rudimentary math. You're all wanting to get |
| 524 | 01:28:59,940 --> 01:29:11,580 | these funded accounts. I want to be funded 250,000 Unless it's 150,000 it's not worth my time. Oh, yeah, your fucking mind. Like if you literally had any |
| 525 | 01:29:11,580 --> 01:29:21,720 | equity, any. You can trade micro and build that up. It's gonna take you more time, I'm not going to argue that it's going to take you more time. But it |
| 526 | 01:29:21,720 --> 01:29:31,410 | doesn't matter. If you only get a $10,000 funded account. If that's what you get. That's what you get. You can work with that. And don't fall into $2 million |
| 527 | 01:29:31,800 --> 01:29:48,510 | funded. Okay? It's become a measuring contest. Like we're all pulling our dicks out to see who's got the longest one. I'm gonna sit over here in my lane and say |
| 528 | 01:29:48,810 --> 01:29:56,160 | none of you motherfuckers are going to be as precise as me. So measure up. I don't need them on anybody's leaderboard. I don't need to do any of that stuff. |
| 529 | 01:29:57,810 --> 01:30:07,890 | So don't get caught up in all that you You're here to learn how to make money. That's it. That is it. There's nothing else to this industry except for that and |
| 530 | 01:30:07,890 --> 01:30:17,160 | have fun doing it. control risk and have fun doing it, be passionate about it. But you also have to know where you're going to pull the plug and say, I'm done. |
| 531 | 01:30:17,490 --> 01:30:25,560 | I've made enough for today, I fulfilled my objective. You have to have goals. There's people out there gonna say, Don't fucking have goals have goals, you |
| 532 | 01:30:25,560 --> 01:30:33,000 | have to know what it's likely to reach for it. Because here's what's going to happen if you don't, you're going to be impulsive. You're going to chase price, |
| 533 | 01:30:33,060 --> 01:30:43,620 | you're going to react to price instead of anticipating price. I can't fucking stand it. I can't fucking stand it. When I see and hear people say don't have |
| 534 | 01:30:43,620 --> 01:30:51,600 | goals or expectations in the marketplace where it's going to go head on. FUCK are you going to fucking trade? How are you going to fucking trade seriously, |
| 535 | 01:30:51,990 --> 01:31:01,050 | you're gonna put a trade on and not have an expectation Where is gonna go? How does that even make sense? Don't have goals. You got to know where it's going. |
| 536 | 01:31:02,610 --> 01:31:10,320 | What conviction are you placing behind the idea that you're incurring risk on if you don't have a fucking goal? If you don't know where the markets gonna go next |
| 537 | 01:31:10,380 --> 01:31:21,780 | reasonably? How could you possibly expect to be profitable? You must have to split the fucking quarter heads you're buying tails you're selling right? |
| 538 | 01:31:23,880 --> 01:31:30,660 | Somebody new or fresh? Like this guy just lost his fucking mind. No, I'm absolutely passionate about you what I'm doing and what I'm teaching and I see |
| 539 | 01:31:30,660 --> 01:31:45,090 | this nonsensical bullshit promoted online. It should be fucking criminal. You should be fucking penalized for sit like that. How else could you possibly |
| 540 | 01:31:45,570 --> 01:32:00,000 | measure progress? understanding and learning? If you don't know where the market's gonna go next. Why are you pushing that fucking button? Why are you |
| 541 | 01:32:00,000 --> 01:32:14,640 | inviting monetary loss? Emotional distress, stress, anxiety. You're inviting that on the basis of what a fucking indicator that said it's overbought who says |
| 542 | 01:32:14,640 --> 01:32:27,420 | it's fucking overbought, that squiggly yes fucking line only crunched numbers. Back 14 bars who gets above 14 bars on a weekly range is nothing. When the |
| 543 | 01:32:27,420 --> 01:32:37,560 | markets going to reprice higher on a level that's established on a weekly timeframe, you're overbought and bearish divergences aren't gonna mean shit. |
| 544 | 01:32:39,570 --> 01:32:54,720 | It's just gonna keep repricing and you're gonna get mad. But my indicator teacher said is indicator said it's gonna go down. The divergence is there. Fuck |
| 545 | 01:32:54,720 --> 01:33:04,170 | that divergence. It's not there. You're right. It's not there. The algorithm doesn't give a fuck about the indicator. It doesn't even realize it's even |
| 546 | 01:33:04,170 --> 01:33:13,410 | there. It's not calculating anything on your own your indicator bullshit, your harmonic fucking triangles and bullshit, you lay out your charts. None of that |
| 547 | 01:33:13,410 --> 01:33:27,990 | shit matters. None of it. So you have to know when you're going to do a full stop pool are all the stops, you're done for the day. You're done listening to |
| 548 | 01:33:27,990 --> 01:33:36,090 | ICT, you're done listening to the bullshit, you're done trading, you have to have limitations and thresholds that you're not going to cross. That discipline |
| 549 | 01:33:36,120 --> 01:33:50,040 | has to be forged early on, and continuously honed in this lifestyle, because it's easy to get caught up in the mania. Thinking you know more than you really |
| 550 | 01:33:50,040 --> 01:33:59,730 | did. I fell victim to that as a 20 year old. I thought I had everything fucking figured out. And then the market showed me a new shit. Fuck all and then |
| 551 | 01:33:59,730 --> 01:34:08,190 | nothing. And I arm wrestled it. Oh, yeah. You want to blow that account? Watch what I do with this fucking account. Oh, yeah, you did great. You just fucking |
| 552 | 01:34:08,190 --> 01:34:21,270 | lost that one twice as fast. You definitely done the city and do it again. No Did did it determine fuck? No. Because if they took it from me, that means that |
| 553 | 01:34:21,270 --> 01:34:30,630 | they made that money. And I was going to be on that side. That's the side of the game I was going to be on. So when you lose, do you take that as a personal |
| 554 | 01:34:30,660 --> 01:34:40,920 | defeat and you're like, Fuck, I'm gonna end up quitting this soon. I don't. I'm like okay, that was a good move on the chessboard. But I still have pieces. I'm |
| 555 | 01:34:40,920 --> 01:34:53,430 | taking your shit. That's why I think that's why I think about this. Every move on a chessboard. Sometimes. You're going to lose a piece. That's just the way it |
| 556 | 01:34:53,430 --> 01:35:03,420 | is. But as long as you still have pieces on the chessboard, the game still on. But many of you don't With regard the level of risk, and you think, Okay, well, |
| 557 | 01:35:03,420 --> 01:35:12,930 | I lost a little bit there. You know, my daily max loss is, you know, I'm only halfway there, I just can't go home with a losing trade, I gotta get it back. |
| 558 | 01:35:13,440 --> 01:35:19,680 | Let me just go in here and try to do it one more time, I won't use a stop loss this time, because I'll be worried about getting stopped if I put a stop loss. |
| 559 | 01:35:19,890 --> 01:35:26,760 | So therefore, let me go in there and just do it without stop loss. And I'll do with three times leverage I just lost on because then I only need a small little |
| 560 | 01:35:26,760 --> 01:35:43,350 | piece. I don't even have to be much correct in terms of where it's gonna go now, because I'm doing three times the leverage. An ancient yourself your maximum |
| 561 | 01:35:43,350 --> 01:35:53,250 | loss is hit you lost your funded account, or you blew your account. What are you gonna feel like when that happens? That's a hard pill to swallow. Because it's |
| 562 | 01:35:53,250 --> 01:36:04,290 | completely avoidable. As soon as you think that you got to fix it. Okay, listen to me. I picked up a row from Larry Williams, when as a younger man, it really |
| 563 | 01:36:04,290 --> 01:36:21,180 | is so true. When I was coming up as a trader in my 20s in 1993, when I was going in with a little bit more understanding, but still knowing nothing. I felt that |
| 564 | 01:36:21,180 --> 01:36:28,950 | every time when I was right, and I was in positions that were being making profit, profit, there were unrealized profits, but they were in positions that |
| 565 | 01:36:28,950 --> 01:36:35,730 | were paying me, you know, increase will be gone. And I was holding them overnight. So I was trying to be a swing trader, then I wasn't day trading |
| 566 | 01:36:35,730 --> 01:36:46,680 | initially. So I'd put a trade on. And I'd have to wait in agony all day long while I was working, worrying that every fluctuation of price and I'm panicking |
| 567 | 01:36:46,710 --> 01:36:57,840 | all day long, constant panic is going to turn on he's going to turn on he's gonna turn on me. No, no, I had no idea what I was doing. When I was making |
| 568 | 01:36:57,840 --> 01:37:00,600 | money, then I hadn't closed the trade yet. |
| 569 | 01:37:01,920 --> 01:37:11,010 | As soon as I grabbed my calculator, and on the road when I was delivering candy and soda machines and stuff, that's what I was doing at the time. I had a little |
| 570 | 01:37:11,010 --> 01:37:21,750 | Casio calculator, watch back then it was a big deal. And I would pull up on the time place I got this many contracts in that goes here. I'm already already |
| 571 | 01:37:22,620 --> 01:37:31,110 | showing the early signs of I should be getting out right now. And Larry Williams in 1995 made a course and you hear me talk about this a lot. But it absolutely |
| 572 | 01:37:31,110 --> 01:37:42,960 | is true. He says you, you get this King Kong feeling like you got it all figured out, you're gonna make so much more money. You don't stick to your trade goal. |
| 573 | 01:37:43,350 --> 01:37:50,790 | Now it's become a long term position trade, you're going to you're going to hold on to this thing for a year now. Originally, it was going to be like a four day |
| 574 | 01:37:50,790 --> 01:38:00,000 | trade. Now it's a long term position Ira trade, okay, you're gonna retire on this one. And you think you're gonna be making so much more money and you start |
| 575 | 01:38:00,000 --> 01:38:08,250 | calculating all this shit that goes up to more cents, man, wheat is going to kill it for me, it's only going to crush it. That's the very moment. That's the |
| 576 | 01:38:08,250 --> 01:38:18,870 | very moment that King Kong feel in that moment. That is the surest sign that you should close your fucking trade and be happy with it. And a lot of that is how I |
| 577 | 01:38:18,870 --> 01:38:34,830 | do my, my targets today. So when I'm in a move, I know what it should do. It is a perfect perfect centerfold trade. It should do this level. And then what I do |
| 578 | 01:38:34,830 --> 01:38:49,170 | now is I cope with this desire to be perfect. By saying if I just get 80% of the move, and I do that consistently more times than I lose. I have trained myself |
| 579 | 01:38:49,170 --> 01:38:59,820 | to accept that as above average, which it is, but to me, I wrestle with that in my mind, in my mind and my subconscious. I'm constantly trying to manifest |
| 580 | 01:38:59,820 --> 01:39:08,790 | perfection. In my entries, in my my approach to getting into a move, you're gonna see that that signature is there because I worked very hard to overcome |
| 581 | 01:39:08,790 --> 01:39:16,110 | fear, which is what my son Cameron has now. He wants to trade he wants to do well, he wants to impress that, but I'm trying to tell him you don't impress me, |
| 582 | 01:39:16,140 --> 01:39:24,870 | you make fucking money. You follow rules and you make money. You control risk, and you make money. That's it. But I was afraid in the beginning of taking |
| 583 | 01:39:24,870 --> 01:39:40,380 | trades I was afraid to get in. I just was scared. I learned how to be a futures trader I thought and with no experience, I went into options and lost my finance |
| 584 | 01:39:40,410 --> 01:39:54,780 | in the first trade overnight. So impulsiveness, knowing where the stops are, where's the thresholds for you? Are you going to be influenced by greed? Are you |
| 585 | 01:39:54,780 --> 01:40:07,140 | going to allow greed to be a factor in your decision making process? You have to you have to say when you're going to stop, when are you going to say no more, |
| 586 | 01:40:07,740 --> 01:40:17,370 | whether it be profitable, whether it be studying, whether it be taking a loss, you have to place those limitations in and you have to stick to them. That's |
| 587 | 01:40:17,370 --> 01:40:26,280 | forging discipline. If you don't do that, your broker is not going to do it for you. I can't do it for you, your trading partner in life, they're not going to |
| 588 | 01:40:26,280 --> 01:40:36,180 | do it for you. You have to be responsible with that. And how much you're going to risk. This is the part that everybody loses their ass on. They think that, |
| 589 | 01:40:36,570 --> 01:40:42,180 | you know, they can take big risks to fix their problems and their drawdown. And then all of a sudden it makes it worse and compounds it and they blow their |
| 590 | 01:40:42,180 --> 01:40:53,220 | account loser funded account. And it Wrexham emotionally, psychologically, and that barrier is a long term loss. That's the part of trading that isn't talked |
| 591 | 01:40:53,220 --> 01:41:03,060 | about enough. And I love listening to people have traded for a long period of time. Because when they when you really listen to them, they open up to you. I |
| 592 | 01:41:03,060 --> 01:41:09,090 | have a headset, and I'm talking to you right now. And it's telling me it's a little battery. So I'm going to disconnect the Bluetooth I'm not sure if it's |
| 593 | 01:41:09,090 --> 01:41:17,310 | going to affect I hope it doesn't, I'm going to continue on as if it won't. So bear with me if I lose the connection or where I apologize that I'm gonna go |
| 594 | 01:41:17,310 --> 01:41:29,310 | over to Twitter. Just give me a heads up if you can still hear me. You should be should be still hearing me. Do me a favor, tweet to me, let me know you can |
| 595 | 01:41:29,310 --> 01:41:51,870 | still hear me. Can you still hear me? Thank you. So when you are risking, you're putting on risk that has real potential to do damage to you emotionally. So when |
| 596 | 01:41:51,870 --> 01:42:04,080 | you listen to people like me or others education, I say risk 2% on your trade 2% A lot. New trader should not be risking 2% I think that you can make a lot of |
| 597 | 01:42:04,080 --> 01:42:15,150 | money risking one half of 1%. And anybody that says that you can't. It's bullshit. Now there are people that can do really phenomenal things risking a |
| 598 | 01:42:15,150 --> 01:42:25,320 | lot. Larry Williams was one of them. Okay. I don't think that that's something that a new trader should aspire to do. Because number one, you already have a |
| 599 | 01:42:25,320 --> 01:42:35,940 | lot of other things to worry with. And if you learn how to trade and you can do things, well, reading price action. Over time, you'll learn where your strengths |
| 600 | 01:42:35,940 --> 01:42:44,550 | are, you'll know the setups that you can really trust that are going to be runners. And that part is a neck that's experiencing most of the questions that |
| 601 | 01:42:44,550 --> 01:42:53,910 | you see many people ask me all the time, how do I know this? And how do I know that? As soon as you see a question started with the framework of how do I know, |
| 602 | 01:42:54,300 --> 01:43:02,730 | chances are I'm going to 99% of time say it's just a matter of experience. When you you know I don't think I don't know very much about that guy, Tom, hold on. |
| 603 | 01:43:02,760 --> 01:43:12,570 | He's apparently like he puts on really big size takes on a lot of risk. One of the videos, the few videos that I watched was one of him show him where he put |
| 604 | 01:43:12,570 --> 01:43:24,630 | up on, I believe the equipment like 40,000, I'm probably doing a terrible does justice to the presentation. But I only watched it one time and from what I |
| 605 | 01:43:24,630 --> 01:43:36,210 | gathered, he knew going in, and it was very responsible for him to articulate it in his presentation that he knew going in that he has the potential of long now. |
| 606 | 01:43:36,600 --> 01:43:46,920 | But he was gonna push it really, really hard. So like he's a high stakes trader, like that's Larry Williams level type risk with that, to me, that's anxiety |
| 607 | 01:43:46,920 --> 01:44:00,090 | inducing. Like I, I personally could not take that kind of risk on because the outcome of failing with it would be worse than a monetary loss. So the |
| 608 | 01:44:00,090 --> 01:44:07,530 | advantages of using money management to do all the heavy lifting, that's what I do. That's how I teach it. And every time you saw me run up the accounts, that's |
| 609 | 01:44:07,530 --> 01:44:18,000 | what I utilized. I wasn't doing crazy, crazy leverage, but I have a lot of respect for that type of thing. Because if you can do it, man, like that's brass |
| 610 | 01:44:18,030 --> 01:44:26,910 | like that's, I can't do it. And I have no shame in saying I can't do that. I can't do world, you know, World Poker competition like the same people, you see |
| 611 | 01:44:26,910 --> 01:44:35,760 | the same faces that are willing to put big heavy bets on they have strong convictions, you're not going to talk them out of it. Unfortunately, and I think |
| 612 | 01:44:36,210 --> 01:44:43,920 | I don't know very much about Tom, but I think he would be in agreement in this regard. I don't think that a new student that has no experience whatsoever, |
| 613 | 01:44:43,950 --> 01:44:52,620 | should aspire to do something like that. And I think he communicated that effectively in his presentation saying, you know, this, obviously, is very, very |
| 614 | 01:44:52,620 --> 01:44:59,490 | risky and he's not promoting the idea that you should try to duplicate that. I can tell you, and I know some of you are probably already hoping this was going |
| 615 | 01:44:59,490 --> 01:45:09,660 | to happen. I'm not going to be able to do that type of $40,000 risk. And let's try to blow the account up to 14,000 hours in one day, you're not going to see |
| 616 | 01:45:09,660 --> 01:45:21,810 | that, I can't do that. I can't do that. But I can grow an account over a course of a month, two months, three months, and have really respectful returns. So |
| 617 | 01:45:21,900 --> 01:45:29,520 | again, you have to know where your thresholds are, you have to know what you're capable of doing, and where your problem areas are going to be. Because if you |
| 618 | 01:45:29,520 --> 01:45:46,770 | lose money, the money is replaceable. It's very difficult to patch up a scar that comes from losing badly. Especially if you know going in, I should not be |
| 619 | 01:45:46,770 --> 01:45:54,300 | doing this and your conscience is telling you don't do it. You shouldn't be doing this, but you just gotta scratch that itch. And as soon as you enter that |
| 620 | 01:45:54,300 --> 01:46:09,000 | trade, because what happens regret, the loss is easily recouped. It's money, that can be made more, but now you have that mental scar, that scar tissue |
| 621 | 01:46:09,240 --> 01:46:23,790 | that's going to haunt you, for as long as you trade. And even if you stop, it's still going to be a source of pain. It's going to limit you scar tissue. It's |
| 622 | 01:46:23,790 --> 01:46:36,930 | not as flexible as your regular flesh. So when you stretch your bounds, beyond what you're used to doing for growth, what are you going to be leaning on? All |
| 623 | 01:46:36,930 --> 01:46:38,730 | the good stuff you did, right? No, |
| 624 | 01:46:39,989 --> 01:46:50,399 | no, you're not, you're going to be limited by the scar tissue that won't let you stretch as far as you would if you wouldn't have endured that painful thing. So |
| 625 | 01:46:50,399 --> 01:46:59,009 | you don't want to develop a lot of scar tissue, which is what I did in the beginning. I have a lot of scars that have still they're still impacting me, as |
| 626 | 01:46:59,009 --> 01:47:14,429 | a trader. Like I, I know certain things that I've done to myself that are going to be detrimental. It if I repeat them. And sometimes they manifest themselves |
| 627 | 01:47:14,429 --> 01:47:24,809 | in my decision making, and will either limit or altogether cause me to not participate in a move. And I'm, I'm comfortable with missing it. Because I'm not |
| 628 | 01:47:25,139 --> 01:47:35,459 | losing anything. But I'm not making anything either. So because of the scar tissue of doing things incorrectly and isn't developing student trading before I |
| 629 | 01:47:35,459 --> 01:47:45,809 | should have with real money and learning, I thought with real money. When I had no idea what the hell was going on, I had no idea what price was doing none. And |
| 630 | 01:47:45,809 --> 01:48:06,659 | I was in your trading 25 contracts of soybeans. No, I was dumb. I was so dumb. I had no business doing that. So you have to have a real world. Grounded respect |
| 631 | 01:48:06,959 --> 01:48:17,849 | for risk, especially when you first start. And don't be ashamed to say, I'm going to adopt one quarter or one half of 1% risk even in your demo. You |
| 632 | 01:48:17,849 --> 01:48:29,729 | punching these numbers in and doing 10 contracts and 40 contracts and 16 contracts and being mesmerized. Hypnotized if you will, that this is what's |
| 633 | 01:48:29,759 --> 01:48:39,749 | reasonable for you to expect as a trader. That's why when you're trading with a demo, you should only be trading with even if they give you 100,000 hours. |
| 634 | 01:48:40,529 --> 01:48:50,309 | Unless you're trading with 100,000 hours when you start trading with live funds. That's stupid even considered trade with the smallest size that the exchange |
| 635 | 01:48:50,309 --> 01:49:03,719 | will offer a micro trade with that, but it's it's only $5 ICT, who cares? You're learning how to read price, you're trying to remove the influence of the profit |
| 636 | 01:49:03,719 --> 01:49:17,519 | or loss because that doesn't limit the effects on you as a trader, the psychological impact of that win and loss. Monetarily has much more lasting |
| 637 | 01:49:17,519 --> 01:49:31,559 | effects than the short term affliction that you place on yourself with drawdown or the mania that comes with doing something right, you walk around feeling like |
| 638 | 01:49:31,559 --> 01:49:39,659 | you're invincible, because that moment that you think you've got it all figured out. You're very vulnerable. You don't realize it but you're extremely |
| 639 | 01:49:39,659 --> 01:49:52,739 | vulnerable. You know, that you just had a windfall victory. And you're going to ignore the fact that you over leverage. You broke rules, but you're going to |
| 640 | 01:49:52,739 --> 01:50:00,959 | just say, Well, I'm gonna bother with that right now because I looked at I made and as soon as you share it on social media, that's it. It's done. You're going |
| 641 | 01:50:00,959 --> 01:50:11,519 | to keep going back to that post CMA more people like your post hit net dopamine. And when it starts to wane, and we're off, and there's more trading hours in a |
| 642 | 01:50:11,519 --> 01:50:20,939 | day, what are you gonna do? Are you gonna look at that when that you got that was really not justified because you took too much leverage and you broke every |
| 643 | 01:50:20,939 --> 01:50:32,579 | role. But you want to feel good. When you say something, you know, it feels good. Knowing when not to trade, and when the trade and only executing like that |
| 644 | 01:50:32,609 --> 01:50:41,969 | and being done. That feels good. That's fucking amazing. That's better than a Saturday night. Well, you made it real, real good. You fill in the blanks when |
| 645 | 01:50:41,969 --> 01:50:51,059 | you're on top now. There's nothing better than being disciplined. And knowing what you're doing while you're doing it. Even if you have a losing trade, it |
| 646 | 01:50:51,059 --> 01:51:00,449 | feels good. Because it can't take more from you. You limited how much flesh it can take off for you. There's only so much as you can lose in this business |
| 647 | 01:51:00,449 --> 01:51:11,879 | before you're done. But you have to fight that desire to feel like okay, that one was great. It felt amazing. I shared it on public, social media, everybody |
| 648 | 01:51:11,879 --> 01:51:28,679 | sees it. And I got to do the next one. Because I'm feeling my Hi wear off. What are you trading? Think about that. What are you actually trading your social |
| 649 | 01:51:28,679 --> 01:51:38,879 | media equity curve. And that's what everybody's trying to do right now. Fuck social media. All of you that are listening, God bless you for giving me the |
| 650 | 01:51:38,879 --> 01:51:46,589 | opportunity to talk to you and share my life experience. But ultimately, if none of you give a shit about me, I'm not losing sleep, I'm not changing my lifestyle |
| 651 | 01:51:46,589 --> 01:51:57,569 | because you'd like me or love me. It matters not. I'm pouring myself in the people that are willing to listen to me. And hopefully, I'm protecting some of |
| 652 | 01:51:57,569 --> 01:52:08,939 | you from yourselves, before we even start this endeavor this year. But invariably, some of you aren't going to be saved. You want the scar tissue. And |
| 653 | 01:52:08,939 --> 01:52:20,549 | once you get it, you regret it. It hinders your growth and slows you down. So I'm teaching you in a way where you have all the upside advantages. And I'm |
| 654 | 01:52:20,549 --> 01:52:32,429 | trying to minimize all of the carnage that is possible. If you just let yourself run wild, there has to be a controlled, structured approach to doing these |
| 655 | 01:52:32,429 --> 01:52:40,739 | things, knowing why you should do it when you shouldn't do it. And you have to know what those thresholds are. And you have to also place them in a limitation |
| 656 | 01:52:40,739 --> 01:52:49,169 | in terms of monetary risk. So when you're doing your demo, and you're doing the case studies that I'm going to put you in, I'm gonna say okay, in your demo, |
| 657 | 01:52:49,199 --> 01:52:57,419 | this is not an invitation for you to take a live trade. But in your demo, I'm going to tell you, alright, we're going to use this Fairbanks app or this order |
| 658 | 01:52:57,419 --> 01:53:04,859 | block. And we're going to aim for this and we're gonna use this stop loss, I want you to feel what it feels like to be in there doing that, with no money. |
| 659 | 01:53:05,759 --> 01:53:14,309 | You can't make or lose anything from nothing's gonna leave your account. No money is gonna leave, you're not gonna miss your bills this month, because you |
| 660 | 01:53:14,309 --> 01:53:24,539 | did something with real money. And you're not going to add more money to your bank account because you gambled, you're not going to learn effectively if you |
| 661 | 01:53:24,539 --> 01:53:35,999 | do it any other way. Besides what I'm showing. Now I'm asking you just to trust me in that, just trust me. Because if you learn this skill set, there's no limit |
| 662 | 01:53:36,299 --> 01:53:48,029 | to what you can do with it. There's no limit to it. Sky is not the limit. And you can become a high stakes trader if you want if you if your risk tolerance |
| 663 | 01:53:48,059 --> 01:54:02,999 | allows for that mine doesn't. I don't have that. And I can respect anybody that does it's it's insane. But I can't, as a mentor in good conscience, not beat |
| 664 | 01:54:02,999 --> 01:54:14,309 | this over your head. Even when you think you heard enough of it, you haven't. You have not until you can exercise that discipline that's required. You don't |
| 665 | 01:54:14,309 --> 01:54:24,179 | know that you don't know the lesson from it yet. And hearing it's not enough. So, core tenets to high probability trading. Okay, when we walk into this in |
| 666 | 01:54:24,179 --> 01:54:31,409 | February, I want you to constantly referring to everything we're talking about the frameworks, I'm going to outline where I think the markets gonna go, why it |
| 667 | 01:54:31,409 --> 01:54:41,429 | should go there, why it shouldn't do certain things. You want to be revisiting this list of things because these are going to repeat every single day. Number |
| 668 | 01:54:41,429 --> 01:54:49,589 | one, you need to know yourself. How are you going to undo yourself? You're going to ruin it. You are not these concepts not Michael Huddleston, not the market, |
| 669 | 01:54:49,859 --> 01:55:01,289 | not the stock Hunter. You're doing it to yourself. You have to know yourself and how are you or how are you going to ruin your price? aggress Are you gonna be |
| 670 | 01:55:01,289 --> 01:55:10,949 | toxic about your observations, only look for where it was wrong. Or you're going to look at, you know, I'm glad that this happened the way it did. And I didn't |
| 671 | 01:55:10,949 --> 01:55:23,249 | take a loss. I've learned from this, because you know, you don't learn anything. From making money. No one's ever learned jack shit. Making money, the only thing |
| 672 | 01:55:23,249 --> 01:55:34,289 | they did was feel like they want to get another hit of that. That's not positive learning. That's encouraging you to do what gamble. I'm not a gambler. I can't |
| 673 | 01:55:34,289 --> 01:55:43,289 | gamble. I can't risk that, because I will beat myself up forever. If I do those types of things, because that's exactly what I didn't beginning. As a trader, |
| 674 | 01:55:43,289 --> 01:55:54,299 | when I, when I first started trading, I was gambling. That's what I was doing. I was taking gamble on ignorance. I had no idea what I was doing. I was entering |
| 675 | 01:55:54,299 --> 01:56:04,349 | markets that could have absolutely decimated me. And it could have taken more money from me than I could have amassed even with doing three jobs. And I didn't |
| 676 | 01:56:04,349 --> 01:56:19,559 | understand that risk. There was oblivious to me, I was the epitome of clueless. That was me. And I'm thankful that I was able to skirt my way through what I was |
| 677 | 01:56:19,559 --> 01:56:22,349 | able to endure, and it wasn't worse than it was. |
| 678 | 01:56:23,609 --> 01:56:33,659 | So you have to know yourself. How are you going to wreck yourself? Where's your character flaws? And that stuff needs to be understood. And don't, don't hide |
| 679 | 01:56:33,659 --> 01:56:42,599 | from it? No, are you impulsive? If you're impulsive, then you need to start putting in more risk parameters and more boundaries for yourself. And that's a |
| 680 | 01:56:42,599 --> 01:56:50,819 | good thing. That's good medicine as much as it doesn't taste good. Right? Now, that's a good thing. Because you want to be here, when the moves come that it's |
| 681 | 01:56:50,819 --> 01:56:59,849 | easy, the easy See, easy to enter, they just run away from your entry and go right to your targets. That's the days that you want to be here for. But if you |
| 682 | 01:56:59,849 --> 01:57:11,009 | blow up, pushing something really hard, and markets that are shit, you don't give yourself the opportunity to do it. You're going to fortify your mindset |
| 683 | 01:57:11,009 --> 01:57:20,129 | with toxic feelings and experiences. When I'm trying to teach you that that's part of this, you're going to lose, you're going to miss trades, it's going to |
| 684 | 01:57:20,369 --> 01:57:30,509 | stop you out. And you're gonna have to live with that. That's what that's what this lifestyle is. Like, you're you're managing that costs constantly. Every |
| 685 | 01:57:30,509 --> 01:57:43,169 | trade you enter is a losing trade. Every single trade, every single trade that you enter, ever, is a losing trade, you have to trade your way out of it, you |
| 686 | 01:57:43,169 --> 01:57:53,669 | have to overcome the cost of commissions. If you're trading Forex, you got to overcome that feeling spread. And until you close that trade, and cover all |
| 687 | 01:57:53,669 --> 01:58:09,299 | costs associated with it. It's not a win. So every one of us live a lifestyle of a losing trader. And we have to trade our way out of that deficit that every |
| 688 | 01:58:09,299 --> 01:58:18,929 | trade opens up with. And it took a long time for me to understand that. I felt that every trade is a winner. That's what we're told by the books. That's what |
| 689 | 01:58:18,929 --> 01:58:27,869 | we hear from ICT video, sometimes it comes across as a message that you can't lose bullshit. Every one of my videos is laced with this stuff, you're going to |
| 690 | 01:58:27,869 --> 01:58:38,729 | lose, you are going to lose and how you manage losing sets the stage for your ultimate success or failure. Because a losing trade is not failure. That's a tax |
| 691 | 01:58:38,819 --> 01:58:48,869 | on participation in the world's greatest fucking business. There's nothing better than this, folks, and you want to give every advantage to you and filter |
| 692 | 01:58:48,869 --> 01:59:05,909 | all the bullshit. Because there's no better way to make your own paycheck than this. If you can do it well manage risk. How much can you make? I don't know. |
| 693 | 01:59:06,749 --> 01:59:15,659 | But whatever number you have associated with it's probably not high enough. That's that's the reality of this. You can make far more than you can imagine |
| 694 | 01:59:15,659 --> 01:59:29,399 | right now. But you're gonna have to incur losing. Can you endure it? Most people can they lose their mind over it, they have to have perfection, or I can't go |
| 695 | 01:59:29,399 --> 01:59:38,639 | home with a losing trade. So you have to know yourself. You got to know your market. All these characteristics that you can build up an understanding of what |
| 696 | 01:59:38,669 --> 01:59:46,169 | the market likes to do around the opening price at 930. What does it like to do on Mondays? What does it like to do on Fridays? How does the market like to |
| 697 | 01:59:46,169 --> 01:59:56,939 | behave in certain weeks when there's certain economic calendar events? All those factors, they're all characteristics so that way you know your market. You can't |
| 698 | 01:59:56,969 --> 02:00:06,689 | fully appreciate that if you're trading 28 pairs In Forex, every currency has its own little quirks and little characteristics it likes to do. And I've |
| 699 | 02:00:06,749 --> 02:00:15,659 | taught, I've done teachings on those, and they're in my YouTube channel, but we're looking at the ES. So the s&p 500 market has certain characteristics that |
| 700 | 02:00:15,659 --> 02:00:20,669 | I'm going to share throughout the year. And I'm going to tell you what they are before they happen in the marketplace. That way you can know it's not contrived. |
| 701 | 02:00:20,669 --> 02:00:27,839 | It's not formfitting. And cherry picked, and just said, Here, it happens. So therefore, I can make it look like I'm smart. No, there's logic that repeats. |
| 702 | 02:00:29,519 --> 02:00:37,559 | And you'll see it you'll, you'll handle it yourself. And then you'll come away knowing wow, I can be really systematic about what it is I'm doing as a trader. |
| 703 | 02:00:38,969 --> 02:00:49,049 | And I won't be swayed by distractions and things that will otherwise undo me and prevent me from finding success. Because this is something that you can be |
| 704 | 02:00:49,049 --> 02:01:02,039 | successful in, folks. As much as I'd like to hammer the realities of what real risk is, with this. I honestly believe that you can do this, you can do it, you |
| 705 | 02:01:02,039 --> 02:01:12,029 | can absolutely find a way to have a secondary source of income in this, but it isn't always going to be profits. Every single time you go in. You're gonna have |
| 706 | 02:01:12,029 --> 02:01:18,269 | periods where you you're making some naked some lose, lose, lose dig into some drawdown but you're gonna manage it you're gonna mitigate it and as it's |
| 707 | 02:01:18,419 --> 02:01:28,859 | creating, you know, a series of losing trades it's gonna take less from you. And you're not going to be rushed to get back I gotta get back to equity high you'll |
| 708 | 02:01:28,859 --> 02:01:40,979 | get there you got the whole fucking year to trade don't worry about it. That one transaction that one week that month is not your entire career. But it's gonna |
| 709 | 02:01:40,979 --> 02:01:55,709 | feel like it is but my friends on social media they're gonna ask me show me my my FX book fuck them. Fuck them. You owe nobody nothing. Nothing your trading to |
| 710 | 02:01:55,709 --> 02:02:04,139 | make you and your fucking family wealthy more than you have right now. You define wealth. I'm not going to tell you what my definition of it is. But if |
| 711 | 02:02:04,139 --> 02:02:13,619 | you're making money above what you earn right now from whatever means you get income from that's a source of income. Who the fuck do you owe explanation of |
| 712 | 02:02:13,619 --> 02:02:23,129 | what you've done with your trades? Who do you owe that? Fuck these people. There's so there's so entitlement nine Did you owe me the fucking broker |
| 713 | 02:02:23,129 --> 02:02:30,239 | statements? You owe me a my effects. Look fuck you. I owe you nothing. But just the rubbing your fucking face. I'm going to call the market every fucking day to |
| 714 | 02:02:30,239 --> 02:02:41,729 | the fucking infinite detail. Stick that up your ass. That's how you handle those jokers. Fuck them. If they're so worried about what you're doing, they're not |
| 715 | 02:02:41,729 --> 02:02:49,199 | satisfied with their own results. Because let me tell you something. I'm walking on fucking sunshine. I don't give a shit. who's doing what? I don't give a |
| 716 | 02:02:49,199 --> 02:03:00,329 | flying fuck. Who's doing what I don't care. That's the mindset you have. That's what you adopt. Fuck everybody else. Hey, nothing wrong with that mindset. |
| 717 | 02:03:00,359 --> 02:03:07,919 | You're minding your own business. They're not going to fucking run your business better for for you if you share your results. And again, I Guaran damn tee you. |
| 718 | 02:03:09,089 --> 02:03:19,799 | Whoever you share those results with some fucking Joker, some fucking clown is going to say I was expecting you to do more than that. Fuck off, go back to |
| 719 | 02:03:19,799 --> 02:03:29,939 | fucking work on Monday, Dunkin Donuts, get the fuck out of here. Stop inviting these people into your development and letting them pour shit all over you. In |
| 720 | 02:03:29,939 --> 02:03:39,329 | the beginning, you're going to be worrying about dumb shit. If you invite other people's opinion. Fuck them. Fuck all of them. They don't matter. They're nobody |
| 721 | 02:03:39,449 --> 02:03:50,609 | in your development. Nobody. The same people you're trying to influence or get acceptance from on social media right now. Five years from now. When you're |
| 722 | 02:03:50,609 --> 02:03:58,769 | doing whatever the fuck you want to do, wherever the fuck you want to do it. You think you're gonna remember these fucking clowns? Nope. Nope. But they're gonna |
| 723 | 02:03:58,769 --> 02:04:09,059 | fucking remember you. Because they're gonna see you. If you make it public, where are you gone? So if that's what you want to do, wait till you arrive. Stop |
| 724 | 02:04:09,059 --> 02:04:18,659 | bringing people into your fucking conversation and your development early stages because you're vulnerable. You're easily influenced. You're so influenced by |
| 725 | 02:04:19,049 --> 02:04:31,079 | most social media is very powerful, very effective. Think about it. You're here listening to me? Have you ever seen me sit on a live stream? Trade live right in |
| 726 | 02:04:31,079 --> 02:04:45,089 | front of you? Now so how'd you get here? Word of mouth. Then you showed up. Then you studied a little bit. You see some things then you started watching me on |
| 727 | 02:04:45,089 --> 02:04:57,389 | Twitter. And then all of a sudden this guy is con every minor fluctuation in the marketplace. Extremely precisely. Yep, that's that's um, that same guy that's |
| 728 | 02:04:57,389 --> 02:05:04,829 | been saying that could have been dealing with all of mine. And I don't give a fuck Like, who wants me to do what I don't care. What affects me is when a |
| 729 | 02:05:04,829 --> 02:05:19,229 | student spends time with me, and they fail themselves, and they say my life's work is a fraud, when I know if they just would have pressed further and got |
| 730 | 02:05:19,229 --> 02:05:30,959 | through that threshold, that pain barrier of not seeing what you are hoping to see by the time limits that you placed on it. Press into that, whenever you have |
| 731 | 02:05:30,959 --> 02:05:41,879 | adversity in this, you need to dig your fucking heels in, I am not leaving, I'm not going to motherfucking place. This is just a speed bump. And this is |
| 732 | 02:05:41,879 --> 02:05:50,669 | something that's saying, you aren't worthy, and I am fucking worthy, you're worthy, you are fucking destined to do this, you are absolutely you ended up |
| 733 | 02:05:50,669 --> 02:06:00,329 | here for that very reason you're that's a testament that you meant. You're meant to do this. I didn't advertise. I didn't trick you with some fucking |
| 734 | 02:06:00,329 --> 02:06:13,469 | advertisement on Facebook, or you do that I run it. The testimonials are organic. It's real. And it's how you ended up here. So don't cheat yourself and |
| 735 | 02:06:13,469 --> 02:06:20,729 | have the opportunity to do this right? Don't fall victim to the bullshit that everybody else falls victim to. |
| 736 | 02:06:22,949 --> 02:06:31,709 | And that's knowing your model. Only operate in that don't try to tinker with it in the beginning, stick to the things I'm going to show you only operate in that |
| 737 | 02:06:31,709 --> 02:06:39,629 | because you will get the foundational experience that's required to start adding on other things. You want to build an addition to your home. Well, you have to |
| 738 | 02:06:39,629 --> 02:06:46,589 | have a foundation before you have a home, right? And that's what this whole tape reading thing is. It's not about putting you in winning trades. It's about |
| 739 | 02:06:46,589 --> 02:06:54,419 | reading price, knowing yourself, how are you feeling about price, you're gonna hear me ask that when I'm doing the live sessions. I'm saying this is where I |
| 740 | 02:06:54,419 --> 02:07:00,149 | think tomorrow is gonna go and the market is going to gyrate around a little bit. Sometimes I'm going to put you in positions mentally not in your demo, not |
| 741 | 02:07:00,149 --> 02:07:09,419 | on your Live account. But I want you to feel what it feels like. I'm going to be doing certain things that retail traders are gonna be trying to do. And I want |
| 742 | 02:07:09,419 --> 02:07:18,899 | you to feel in an recorded in a tweet to me, while I'm doing the live sessions on YouTube, tell me what your sentiment is, don't be afraid to say it. I'm not |
| 743 | 02:07:18,899 --> 02:07:27,239 | judging you. And if anybody says anything about it, fuck them. Because I want you to feel what you will feel in the beginning stages versus how you feel at |
| 744 | 02:07:27,239 --> 02:07:34,559 | the end of the year, it's going to be a totally different paradigm shift that you're going to be able to relate to, oh, wow, I don't even think like that |
| 745 | 02:07:34,559 --> 02:07:48,179 | anymore. But unless you press into that uncomfortable state of revealing it to yourself, namely handle ambling that experience. You won't overcome that |
| 746 | 02:07:48,179 --> 02:07:58,589 | anxiety. And that's how you do it. You press into it, and see that it can't hurt you why? Because you're not risking any money. You have all the upside |
| 747 | 02:07:58,709 --> 02:08:08,549 | advantages, learning how to do this correctly, and not have any adverse results of doing it losing money. Because even if you'd lost $10 on something I call |
| 748 | 02:08:08,549 --> 02:08:23,639 | live, that's toxic. It feels like Oh, shit. All the rumors are true. And you'll believe any little fucking function and you get why you shouldn't do it. Ask |
| 749 | 02:08:23,639 --> 02:08:34,619 | anybody that makes real money. Did they lose? Yes. Does it stop them from wanting to do what they're doing? Fuck no. It's not taking losing trades. It's |
| 750 | 02:08:34,619 --> 02:08:44,639 | still way fucking better than going to work for fucking whatever it is you got to earn a job but you couldn't pay me. I'm unemployable during a motherfucking |
| 751 | 02:08:44,639 --> 02:08:58,079 | company out there that could pay me ever to not do this. There's not enough money out there to say if you could go back in time. The choice of knowing what |
| 752 | 02:08:58,079 --> 02:09:05,609 | I know today, if I had that benefit of knowing with foresight I haven't right now and go back and say, here's the other career choice that you could do and |
| 753 | 02:09:05,609 --> 02:09:19,589 | it's this the high dollar amount. It wouldn't be enough. And I'm being honest, every fucking thing out there like this. Nothing you can control when you do it |
| 754 | 02:09:19,589 --> 02:09:28,649 | when you don't do it. Who says you can't pick it up vacation when you want to take a vacation. Thought that Carl's position and seniority is not going to |
| 755 | 02:09:28,649 --> 02:09:36,839 | affect your fucking position on picking the week that everybody in your family can get off. But you can't get because fucking Carl at your fucking job says |
| 756 | 02:09:36,869 --> 02:09:49,229 | he's got seniority. Fuck Carl, fuck that job. Fuck that employer, you're carving out your own trail. But you can't run that trail and blaze it yet. So don't rush |
| 757 | 02:09:49,589 --> 02:09:59,549 | and try to act before you can really do it. So you stay with your model, your approach you stick with it. It'll provide you that foundation. That beginning |
| 758 | 02:09:59,579 --> 02:10:07,079 | base so that you start building more experience on, oh, I'm gonna learn a pyramid I like ICT does you can't learn that right away, you have to first |
| 759 | 02:10:07,079 --> 02:10:17,189 | understand what's a high probability trade? What is low probability? Can you differentiate that? Can you differentiate a high resistance liquidity run from a |
| 760 | 02:10:17,189 --> 02:10:26,099 | low resistance liquid run secondary yet? Some of you tweet to me say, Oh, this is a low resistance liquid around signature when it's not. I don't correct you. |
| 761 | 02:10:26,099 --> 02:10:34,349 | I don't say anything. Because I know right now, some of you're so new, if I say anything, it's going to have a lasting impression on you. And it may be |
| 762 | 02:10:34,349 --> 02:10:44,069 | detrimental to your development. So I just leave it alone. Don't touch it. Some of you might see that and wonder what why he corrected him. I don't want to be a |
| 763 | 02:10:44,069 --> 02:10:54,059 | negative impact. Because you're so delicate right now. You're so easily influenced, I want everything to be communicated in the lectures and in the live |
| 764 | 02:10:54,059 --> 02:11:04,679 | sessions, focus there, unless I mentioned it there. Everything else is not important. No other video series is important. No other thing is important. But |
| 765 | 02:11:04,679 --> 02:11:13,649 | if you need to have a foundation, before we go into February 7, and live sessions, you should go through those 40 videos that I put out last year and the |
| 766 | 02:11:13,649 --> 02:11:22,859 | 2022 mentorship, it's not a lot of material, you can probably digest it over the time between now and February 7, not even rushing it. And it'll give you at |
| 767 | 02:11:22,859 --> 02:11:30,299 | least the foundation. So that way, when you see me pointing to certain things in the chart, you'll understand what I'm talking about. You don't need to do any |
| 768 | 02:11:30,299 --> 02:11:38,909 | other video series. I thought about this over the last couple weeks. I'm like, Okay, I gave them you all, a short list of video series that you really don't |
| 769 | 02:11:38,909 --> 02:11:49,889 | need anything except for last year's mentorship videos. It's only 40 of them. 41 of them. Know that and come up every day when I do live sessions and follow |
| 770 | 02:11:49,889 --> 02:11:59,609 | along on twitter every day. Because I'm prompting you live, where my focus is where I believe the market is gonna go next. And that is going to do more from |
| 771 | 02:11:59,609 --> 02:12:08,189 | you, for you and your learning than anything else. Because I'm forcing you to look at specific things in the market. Framing only a small segment of price |
| 772 | 02:12:08,189 --> 02:12:21,179 | action, and then you can't deny it's fun, isn't it? Seeing it happen? Real time? Arts feels like fortune telling. It's like time travel. It's so fucking fun. And |
| 773 | 02:12:21,179 --> 02:12:30,359 | you haven't even made any money yet. Now imagine. Fuckin imagine okay. You're in the Maldives. It's five years from fucking now and you're kicking back you're |
| 774 | 02:12:30,359 --> 02:12:38,549 | thinking you know what, and I fucking ICT now that's a hell of a fucking guy. You came out there and literally fucking smoked everything out there for free. |
| 775 | 02:12:38,999 --> 02:12:47,219 | And look at the lifestyle. I'm living right now. I gotta send that motherfucker a tweet. Dude, I'm over here right now soaking up the sun on this fucking grass, |
| 776 | 02:12:47,219 --> 02:12:53,459 | hot motherfucking thing floating around in this beautiful turquoise water. And I just want to tell you, thank you so much for the new lifestyle that you had a |
| 777 | 02:12:53,459 --> 02:13:00,839 | small part in building for me. Thank you. You know what? I'm gonna fucking walk around my fucking house like a fucking peacock dance around chillin my moves |
| 778 | 02:13:00,839 --> 02:13:08,069 | like fucking Jagger. And my wife's gonna slap me upside the head say Shut the fuck up. Okay, but I don't care. That's what I'm looking forward to. I know, I |
| 779 | 02:13:08,069 --> 02:13:21,479 | know, where all of you potentially could end up. You just don't see it yet. You don't see that yet. But I know it. I fucking know it. And you just have to show |
| 780 | 02:13:21,479 --> 02:13:29,549 | up. Show up every day. Take notes. Listen to all this boring, boring, boring bullshit. Because it matters. It doesn't matter to you right now. Because you |
| 781 | 02:13:29,549 --> 02:13:36,419 | want signals. You want to get your funded account secure. You want to make money, you want to copy trades and all that bullshit. Okay? That's all the wrong |
| 782 | 02:13:36,419 --> 02:13:45,179 | things. That's all the wrong things. You want junk food, fast food and sugar, fat and candy bars right now. That's what you want. You need the fucking meat |
| 783 | 02:13:45,179 --> 02:13:54,089 | and potatoes. That's what you need. You need that you need a clean diet, remove all the junk food from your fucking attention. That's what you need to be doing. |
| 784 | 02:13:55,109 --> 02:14:02,219 | Period. If you want to watch other people other than me, well, I gave you a guy he's out there pushing. He doesn't. I mean, he just recently mentioned the fair |
| 785 | 02:14:02,219 --> 02:14:08,999 | value gap. But I don't see him going over the fair value yet. And there's nothing wrong with that. Because he's consistently finding setups that he trusts |
| 786 | 02:14:08,999 --> 02:14:19,259 | on his own. And he's making money, let that be an encouragement to you. There's people making money, even outside of my shit. Some of them doing phenomenal, |
| 787 | 02:14:19,859 --> 02:14:29,699 | crazy level amount of money. And they ain't touched one ICT fucking thing ever. But I mean, this is me, this is my shit. I'm not going to talk about other |
| 788 | 02:14:29,699 --> 02:14:41,489 | stuff. I can't tear down somebody that has done well and is making money and it's not my inspiration to do that. I do attack retail logic because my |
| 789 | 02:14:41,489 --> 02:14:56,609 | methodology is opposed to it. Like I turn it upside down. That's how I trade and that sometimes comes across as arrogant, argumentative, prideful, boastful. You |
| 790 | 02:14:56,669 --> 02:15:12,179 | name it. I guess in a lot of ways impartially It's true. But it doesn't change the fact that these are the facts, this is our trade. So you have to know you're |
| 791 | 02:15:12,209 --> 02:15:21,449 | yourself, the market, the market, you're trading your model, how you're gonna only engaged in that model, I'm not going to do anything outside the time |
| 792 | 02:15:21,449 --> 02:15:28,079 | parameters. I'm not going to trade another market. And I'm going to try to add another pattern. I'm not going to try to pyramid before I'm ready to understand |
| 793 | 02:15:28,079 --> 02:15:38,279 | how to do that. And you need to know the landscape, the economic landscape, the economic calendar, you know, is it is it conducive for a very easy week? Or are |
| 794 | 02:15:38,279 --> 02:15:47,399 | we plagued with a lot of high or medium impact news drivers, you know, economic calendar FOMC. Okay, CPI number, Non Farm Payroll, |
| 795 | 02:15:48,659 --> 02:16:01,409 | those have a impediment on easy trading days. And you won't know what that feels like or understand what I just said, until you see that happening. And you watch |
| 796 | 02:16:01,409 --> 02:16:08,459 | price action live over my shoulder, and I'm coaching you and what, what you should expect and what shouldn't be occurring today, and what will likely occur. |
| 797 | 02:16:08,639 --> 02:16:17,639 | And then because you watched it, and you didn't put a money result, at the end of the lesson, you didn't lose or make any money, you observed price, because |
| 798 | 02:16:17,639 --> 02:16:30,239 | that's the that's the root pathway to success and making money. You have to determine you have to pick you have to guess you have to forecast. Where is this |
| 799 | 02:16:30,239 --> 02:16:39,449 | market going? Is it gonna go higher from where it is right now? Or is gonna go lower? If it's gonna go against you? How far is it reasonable for you to allow |
| 800 | 02:16:39,449 --> 02:16:47,399 | for that, and still trust that it's going to go where you think it's gonna go? That's setting goals. The goal is not to have your stop loss hit. And the other |
| 801 | 02:16:47,399 --> 02:16:54,869 | goal is to have your targets and partials hit. That's setting goals, that's fucking trading books. People that say don't have goals, book them, they have no |
| 802 | 02:16:54,869 --> 02:17:03,119 | idea what you're talking about, you have to have a structured approach. That way you can go and see, this is what the markets likely to do. Not some retail |
| 803 | 02:17:03,119 --> 02:17:13,649 | horseshit. Not some kind of fucking dumb animal pattern that has absolutely no fucking bearing on what price is going to do next, it has no respect of that |
| 804 | 02:17:13,649 --> 02:17:29,219 | shit. You're fooling yourself with chaos. That's chaos theory. It's randomness. Go back and find, you know, oh, this is where it would have worked. So you have |
| 805 | 02:17:29,219 --> 02:17:37,679 | to have an understanding of the economic calendar, you will see that obviously, this year, I usually prompt you on Twitter anyway. And you have to obviously |
| 806 | 02:17:37,709 --> 02:17:47,819 | know your risk tolerance, you know, it gets back to knowing yourself. So it begins and ends with the same thing you you have to know yourself what you're |
| 807 | 02:17:47,819 --> 02:17:58,799 | comfortable with. Are you comfortable with a trading model that you're trying to buy? Can you afford to live in the trading house that you're trying to buy? In |
| 808 | 02:17:58,799 --> 02:18:10,889 | other words, are you going to be able to be comfortable only trading that model and not be influenced to do something else? And dilute your attention and focus |
| 809 | 02:18:10,889 --> 02:18:20,639 | on the model that you're trying to build? If you're out there all the time? Like, how foolish would it be for me? Buying a new home, moving into the new |
| 810 | 02:18:20,639 --> 02:18:28,409 | home, and I'm still unpacking? How foolish would it be for me to be looking at Zillow listings for new homes right now. That's the last thing on my fucking |
| 811 | 02:18:28,409 --> 02:18:36,899 | list. I'm not even thinking that right? But how many times have you looked at something from an influencer? Maybe me or someone else. And you see what they're |
| 812 | 02:18:36,899 --> 02:18:47,519 | doing and they show you results. They show you the my effects book or they show you the empty for Scroll of what their profits are. And you're thinking, well, |
| 813 | 02:18:47,519 --> 02:18:57,509 | it's probably something else. It's a better house right now. I'd like to spend a night in that house. That's the equivalent what you're doing. That's exactly |
| 814 | 02:18:57,509 --> 02:19:08,459 | what you're doing. But that shit is stupid. Like you don't even settle in on one methodology first, to that way, get some kind of baseline experience. And |
| 815 | 02:19:08,459 --> 02:19:18,599 | unfortunately, in this industry, there's a lot of bullshit. There's a lot of things that's going to look sugar coated, candy coated, you know, come over here |
| 816 | 02:19:18,599 --> 02:19:27,989 | we have all the sweets that you want. But when you taste it, it's horseshit. And it's not even sugar coated. You get your hands dirty. It's not like shit tastes |
| 817 | 02:19:27,989 --> 02:19:40,199 | like shit and you end up losing money. And you wasted time because you were influenced by image image when all that shit doesn't matter, my cars my home the |
| 818 | 02:19:40,199 --> 02:19:47,069 | things I had in my checking account balance all that shit. Can that make you better as a traitor? If it could, I would fucking shove it down your throat. |
| 819 | 02:19:47,459 --> 02:19:54,899 | Literally I would cram it down your fucking face every day. If I felt that it would make you a better trader. None of that shit does the only thing it does is |
| 820 | 02:19:54,899 --> 02:20:03,029 | invites worship and I don't want you fucking worship me. I want you working your ass off building Your own model, find the results you were looking for. And then |
| 821 | 02:20:03,029 --> 02:20:12,539 | just tell me hey, this is what I've done. What do you think, man? That's all I'm asking for. That's all I'm asking for. How hard is this fucking relationship? |
| 822 | 02:20:12,539 --> 02:20:23,579 | Gotta be like, seriously, some of you are fighting me. And I'm trying to be the best friend in the fucking head. So, core tenets to high probability trading, as |
| 823 | 02:20:23,579 --> 02:20:32,669 | obviously in shortlist is, you got to know yourself. Know the market you're trading. Don't dilute your attention. Trade only the model you're working with |
| 824 | 02:20:32,699 --> 02:20:42,269 | nothing extra? No, don't tinker with it. Know the economic calendar and the landscape, the risks that are associated with that. And then you have to know |
| 825 | 02:20:42,269 --> 02:20:52,919 | your risk tolerance, what are you willing to absorb? Because you might get a funded account. And they might say that you have $6,000 daily drawdown. But when |
| 826 | 02:20:52,919 --> 02:21:05,279 | you've hit 500, and you lose your fucking mind, what's your threshold really $500 says you got to make some changes, don't you? Just because that funded |
| 827 | 02:21:05,279 --> 02:21:15,869 | account, or your equity balance says that you can afford to trade more, you might not be equipped, psychologically and emotionally to trade like that yet. |
| 828 | 02:21:16,109 --> 02:21:26,309 | And there's nothing wrong with that. There's absolutely nothing wrong with that. If you only make 1% a month, and you're using what we considered the funded |
| 829 | 02:21:26,309 --> 02:21:38,459 | account of $150,000. Let me tell you something that does significant damage to a rent payment. It does significant damage to a car note each month, it does |
| 830 | 02:21:38,489 --> 02:21:52,349 | significant damage to grocery costs today. You start there, folks, you don't aim for the pie in the sky type shit, Lamborghini lifestyle. Maybe games are over |
| 831 | 02:21:52,499 --> 02:22:02,609 | rated or pieces of shit. The bottom line is, is you want to have income, cash flow. And you want to be able to trust that what you do even though it will lose |
| 832 | 02:22:02,609 --> 02:22:12,059 | sometimes and you're gonna make mistakes as a human being. It's all part of this industry. And that lifestyle. You have to grow accustomed to that in by inviting |
| 833 | 02:22:12,059 --> 02:22:25,019 | people outside of yourself. That's friends, family, social media buddies, inviting them into that discussion. The only thing that comes from that is |
| 834 | 02:22:25,019 --> 02:22:36,089 | compounding the pressure, the anxiety and stress. So why the fuck would you even consider doing it? Why would you do it? Right now you think that it will |
| 835 | 02:22:36,089 --> 02:22:45,869 | establish you and make you better when I'm telling you it has the adverse effect when it makes it harder than it needs to be? Because you're compounding the |
| 836 | 02:22:45,869 --> 02:22:55,589 | mental baggage that you now have to carry. You have to carry the hopes and fucking treasured beliefs that your friends and family on social media. They're |
| 837 | 02:22:55,589 --> 02:23:05,399 | not your family. But you treat them better than your family. You have the you have their hopes about you ahead of everything else. Don't think so? How many |
| 838 | 02:23:05,399 --> 02:23:14,699 | times if you rush to fucking Twitter, over your your son trying to get your attention. He's tugging on your shirt. That that wait a minute, I gotta get this |
| 839 | 02:23:14,699 --> 02:23:22,259 | post on Twitter. I gotta show my fucking p&l for today. Oh, I gotta close this fucking trade right now. So I can go on social me and share. Don't bother me |
| 840 | 02:23:22,259 --> 02:23:35,219 | now, son. Don't bother me now, son, I'm on a roll. I got something better to do than to be a dad, to you. I'm sorry. If I gotta be market dad sometimes. But |
| 841 | 02:23:35,639 --> 02:23:47,249 | this is the shit that I had to learn from that I did that stuff. I didn't do the best job as being a dad. And I wasn't the best husband. Because I put the |
| 842 | 02:23:47,249 --> 02:24:00,449 | markets and trading in front of all of them. And you don't want to live with what I live with now. It's regret. Because I would give 20 times what I have to |
| 843 | 02:24:00,449 --> 02:24:07,529 | get the opportunity to go back and fix that and I can't. So all these things are going away when you fucking send me tweets or you put comments that I will not |
| 844 | 02:24:07,529 --> 02:24:14,219 | approve of on my fucking videos and saying You talk too much shit get to the fucking point. Get to the point. The point is, if you do this long enough, |
| 845 | 02:24:14,279 --> 02:24:25,349 | you're gonna have these fucking problems. And you're gonna have these regrets. And my point is I don't want you to live with what I live with. I've walked this |
| 846 | 02:24:25,349 --> 02:24:35,789 | shit, I lived it. And there's a lot of things I wish I could go back and undo and I can't. I can't. And I'm gonna asshole if I fucking don't tell you how to |
| 847 | 02:24:35,789 --> 02:24:48,449 | avoid what I did. It doesn't matter how good of a contractor you are. You're gonna fuck up somewhere and I'm showing you where you won't expect it. Success |
| 848 | 02:24:48,479 --> 02:25:01,709 | still brings with it the opportunity to be a fucking failure. I failed being the best daddy. I could have been to my own fucking children. They saw me once in a |
| 849 | 02:25:01,709 --> 02:25:11,489 | while. I'm the ghost in the machine, I was the ghost in the fucking house to once Mr. They saw me, that was it. I was chained to this fucking chain into |
| 850 | 02:25:11,489 --> 02:25:30,749 | these monitors, I was chained, like a fucking slave to these charts. Because in my mind this is who I am. And this is all I am. And it's not true. I'm a loving |
| 851 | 02:25:30,749 --> 02:25:40,979 | husband. I'm a loving dad. I'm a good friend. But in my mind, I allowed this whole industry |
| 852 | 02:25:42,600 --> 02:25:54,690 | to hypnotize me into thinking that my only sense of significance is me, building up my net worth building up my next trade, what's my result going to be? In? |
| 853 | 02:25:54,690 --> 02:26:06,750 | There it is. That's how I define my own existence over the last 30 years, more or less 20 years, because last two years, I've wrestled with those demons and |
| 854 | 02:26:06,810 --> 02:26:23,280 | made it public. It's uncomfortable to talk about these things. But it's real. And nobody does it. Enough of it. You like the Mark Douglas book, that's great, |
| 855 | 02:26:23,310 --> 02:26:34,140 | and was nice read. But it doesn't even scratch the surface of what you're going to fucking endure in this. It it's not about only the money you make and what |
| 856 | 02:26:34,140 --> 02:26:49,650 | you lose. It's what you give up. And you can't waste the time with toxic fucking bullshit. You can't do it. If you do those things. It's just gonna hold you back |
| 857 | 02:26:50,790 --> 02:26:58,200 | for the beat, or it will be the very barrier that's going to block you. So when you're looking at trading the markets, you think it's just the charts and the |
| 858 | 02:26:58,200 --> 02:27:06,960 | patterns. And like all these guys that showed him money and shit, okay? Or they're making money, and they're profiting, like, they don't have anything else |
| 859 | 02:27:06,960 --> 02:27:18,030 | to worry about. That's them lying. That's them hiding that stuff. Okay, I love I literally love watching live streamers trade, because number one, that is brass. |
| 860 | 02:27:18,480 --> 02:27:27,840 | That takes guts to do that. Number one, you're you're placing yourself out there in the eyes of everybody that wants to give you their opinion. And you may or |
| 861 | 02:27:27,840 --> 02:27:39,990 | may not appreciate their opinion, but you still are offering an inviting that. And then when? Well, I'll give an example. Yesterday, I invited all of you to go |
| 862 | 02:27:39,990 --> 02:27:51,180 | where I was watching. And I've been watching that guy, Patrick line for Howard for almost four weeks. And it's pretty consistent. And he has a little bit of a |
| 863 | 02:27:51,180 --> 02:27:59,490 | character to himself. And that's fine, I can appreciate that. It makes it more entertaining. Instead of just watching the channel says goodbye. But when |
| 864 | 02:27:59,790 --> 02:28:08,460 | obviously my entourage showed up, and some of you acted like fools and embarrassed me, and I know some of you probably aren't really my students you're |
| 865 | 02:28:08,460 --> 02:28:20,970 | in you're trying to be a dick. But I watched him and his disposition change. And I know that fucked his focus all up. And that's why I apologize publicly. |
| 866 | 02:28:21,330 --> 02:28:30,750 | Because that was not my intent. And I'm not going to be there. You try to do that anymore. But I did put your name out there, Pat, I think what you're doing |
| 867 | 02:28:30,750 --> 02:28:38,280 | is cool. It's awesome. I wish it would show more in Hawaii and some B roll shit. That'd be neat. It's beautiful there. My wife has been there. I have not been |
| 868 | 02:28:38,280 --> 02:28:54,900 | there. But the the focus and the shift that took place was visual. And he guarded himself by putting it to members only chat. And he put up his walls. And |
| 869 | 02:28:54,900 --> 02:29:01,950 | I'm sure if we were honest, and we're talking together right now, you know, and I never talked to him before. I think he would be honest to say Yeah, it kind of |
| 870 | 02:29:01,950 --> 02:29:06,960 | fucked me up and kissed me off. Because you know, these people coming in here talking some shit in here. I'm doing it like, you're right, you're fucking doing |
| 871 | 02:29:06,960 --> 02:29:17,040 | it live. And these talkers are just talking shit. And that's what this industry is all about. These talkers, that ain't doing shit. They're miserable. So that's |
| 872 | 02:29:17,040 --> 02:29:26,100 | what you're inviting. So you have to be prepared for that. You have to be prepared. If you're going to make your journey public. There's going to be a |
| 873 | 02:29:26,100 --> 02:29:37,410 | whole lot more negative fucking people watching you and hoping that you're going to fail. And are you really wanting to invite that in the beginning when you're |
| 874 | 02:29:37,410 --> 02:29:50,550 | so easily influenced? Most of you wouldn't be able to endure that. I'm pretty fucking good at trading. I'm pretty good at it. I am honest. And I've told you I |
| 875 | 02:29:50,550 --> 02:30:03,150 | discovered in 2016 I cannot. I can't process constant you know, chit chat questions like what the fuck I I can't even focus. Like this is hard shit, man, |
| 876 | 02:30:03,630 --> 02:30:13,500 | this is hard. You are wrestling with your internal demons. And you're trying to decipher what these candlesticks are going to do next. And you're worrying about |
| 877 | 02:30:13,500 --> 02:30:22,680 | what the fuck is gonna happen in the world. Any given moment some shit can hit the marketplace, some news events, some kind of fucking unexpected thing, all of |
| 878 | 02:30:22,680 --> 02:30:33,810 | a sudden, she goes upside down. We are in. I don't care if anybody anybody tells you this is not true. They're bullshitting, they've been around long enough. |
| 879 | 02:30:34,140 --> 02:30:47,490 | These markets right now are so much more complex than they had ever been. Can I try it again. But I can tell you in all honesty, even though you've seen me |
| 880 | 02:30:47,490 --> 02:30:57,690 | being as precise as I am, I am not as comfortable as I was before the last three years have played that way. I think that's a fair way of saying what I'm what I |
| 881 | 02:30:57,690 --> 02:31:07,290 | mean, without saying it. You probably hear my stock Brown. Apologize for that. But you're learning didn't say something, you're learning how to do this in the |
| 882 | 02:31:07,290 --> 02:31:17,190 | most difficult time ever. The markets are very fickle, sometimes in recent months and years. There's not a lot of follow through, it's just real, choppy. |
| 883 | 02:31:17,880 --> 02:31:28,260 | And there's opportunities to make money in that. But unfortunately, everybody wants these big textbook runners expect these big explosive Bitcoin type surges, |
| 884 | 02:31:28,350 --> 02:31:37,470 | where it just keeps on going and over delivers. And unfortunately, if you have that mindset, and you're trading in these environments, as of recent, it can be |
| 885 | 02:31:37,470 --> 02:31:51,870 | very frustrating and not deliver that. So. Got to wet my whistle. It's only a second time and the whole time we've been talking. The I now I can talk to him, |
| 886 | 02:31:51,990 --> 02:32:00,510 | I can keep going and go on and on. Like Energizer Bunny, this guy never shuts the fuck up. Not when I'm awake, I don't. So we covered a lot of things, core |
| 887 | 02:32:00,510 --> 02:32:08,640 | tenants to high probability and basically revolves around you, everything is your responsibility. Your results are your own, your successes, your own, your |
| 888 | 02:32:08,640 --> 02:32:19,560 | failures, you're on, you own all of it. And that's what this industry forces upon all of us as traders. And unfortunately, some of you, much like I was in |
| 889 | 02:32:19,560 --> 02:32:30,360 | the beginning, I was ill equipped for that, that reality check. And I want you to trust what you're going to be seeing and learning this year without money |
| 890 | 02:32:30,360 --> 02:32:38,730 | attached to it. Because that's the only way you're gonna be able to combat that. If you don't believe me, waste your time this year and regret it. Okay, that's |
| 891 | 02:32:38,730 --> 02:32:49,920 | all I'm gonna say. So technically speaking, what we will be doing is I'm going to do a top down analysis. So I will go through the weekly chart, I'll give you |
| 892 | 02:32:49,920 --> 02:32:59,220 | what I think the weekly chart is going to do. So that kind of sets the stage for where I think that expansion on the week is likely to do like is it more likely |
| 893 | 02:32:59,220 --> 02:33:08,400 | to have a big, larger portion of the weekly rains go to the north, higher prices or lower, and I want to kind of frame my trades predominantly in that direction. |
| 894 | 02:33:08,550 --> 02:33:17,010 | It doesn't mean I won't trade counter to that. It just means if I do take those trades, I won't pyramid those positions up, if it's going against my weekly |
| 895 | 02:33:17,010 --> 02:33:28,170 | expectation. When we say it against that we understand. Hypothetically, let's just say I do my top down analysis with you. And I show that my opinion is that |
| 896 | 02:33:28,170 --> 02:33:38,160 | there's a strong possibility that the s&p will have a sizable move, what is sizable, it's all relative to the time I'm showing you on the chart, and I'll |
| 897 | 02:33:38,160 --> 02:33:48,840 | give you very specific levels is going to reach to so it's not ambiguous, I would prefer a move on the weekly chart reaching to a specific level under the |
| 898 | 02:33:48,840 --> 02:34:01,320 | marketplace price right now, that means I would I want to do my largest position or even pyramid in that direction only. I will take Long's and go long in that |
| 899 | 02:34:01,320 --> 02:34:11,580 | week. But I will never build a pyramid in that where it goes against my weekly commentary. So that way we understand what I'm doing here. I have done pyramid |
| 900 | 02:34:11,580 --> 02:34:21,360 | thing against the weekly commentary or my weekly expectations, but it's very few and infrequent, because I want to be trading with the order flow that I'm |
| 901 | 02:34:21,360 --> 02:34:30,660 | expecting and price delivery to be on my side. So that way I won't be building in a position that more likely to turn on me or not deliver. So you know why? |
| 902 | 02:34:30,840 --> 02:34:44,520 | Why throw more gas on a fire that's already out. You won't get any more ignition. It's done. So I'm trying to only push the real heavy handed leverage |
| 903 | 02:34:44,580 --> 02:34:54,720 | trades in the direction where I had the highest probability of movement in my favor. So you'll see a top down analysis. It won't be arduous, it'll be very |
| 904 | 02:34:54,720 --> 02:35:03,300 | short and sweet what I'm looking for, and you're going to ask immediately when I do it, well why not this and when Note that my greatest request to you is this |
| 905 | 02:35:03,810 --> 02:35:14,460 | focus on the things I'm talking about only. If I'm not talking about it, it has no bearing on why I'm doing what I'm doing. This year, I'm going to show you how |
| 906 | 02:35:14,460 --> 02:35:24,300 | to take the things from my concepts and make a very lean, streamline approach. It's not bloated with all the things that you think it's necessary when it's |
| 907 | 02:35:24,300 --> 02:35:32,250 | not. I don't know, if you'd like a breaker as an entry technique, I don't know if you'd like the fair value got, I don't know if you'd like. |
| 908 | 02:35:34,139 --> 02:35:43,769 | You know, selling short by stops on a false breakout. I don't know if you even trust a institutional or full entry drill. Because unless you know what a fair |
| 909 | 02:35:43,769 --> 02:35:52,409 | value gap is, you can't do that institutional or fiduciary rule. Like you don't even know what that is. So everything has its own place. But also I'm, I'm |
| 910 | 02:35:52,409 --> 02:36:02,099 | Cognizant to the fact that you're all bringing your own personality to this. So I have to make concessions for that as an educator, and allow you to find your |
| 911 | 02:36:02,099 --> 02:36:12,359 | own niche. And this because if you don't bring your own personality to this, and you try to copy me entirely all by itself, and whether I'm right or wrong, and |
| 912 | 02:36:12,359 --> 02:36:22,679 | if I'm giving profitable analysis, if you copy that, the only thing you've learned is to be codependent. And that's the worst thing as an educator, I don't |
| 913 | 02:36:22,679 --> 02:36:28,619 | want that. I'm not trying to cultivate that. I want you to be independent. I want you to learn how to do this on your own. And the only way you're gonna do |
| 914 | 02:36:28,619 --> 02:36:35,759 | that effectively is by not doing anything with money attached to it. And then that sounds kind of intuitive. It sounds counterproductive. And you're thinking |
| 915 | 02:36:35,759 --> 02:36:41,999 | there's no way I'm doing it. If you're calling the market live, I'm in there. I'm fucking trading this shit. And I don't give a fuck. You can judge me |
| 916 | 02:36:41,999 --> 02:36:51,869 | afterwards ICT I need to get my hands on it. I get it. I understand. Here's my request. Please don't tell me what you made her last. I think that's a fair. |
| 917 | 02:36:52,139 --> 02:37:02,279 | Okay. Please don't tweet to me. And say hi five ICT. Thank you so much. I don't want to see that. Because if you do that, you are going to be in my mind when |
| 918 | 02:37:02,279 --> 02:37:12,299 | I'm doing the analysis. And I don't want to second guess anything. Like, I don't want to have any of those types of distractions ever. When I call those shots on |
| 919 | 02:37:12,299 --> 02:37:22,589 | Twitter, I'm posting the tweets. And I'm not looking at anything until afterwards. Because I can't have any of you influence me. I don't want to be |
| 920 | 02:37:22,589 --> 02:37:29,609 | worrying. I don't want to be managing your fucking trades. Okay, that's what that's what it's going to become. I'm telling you what I think the markets gonna |
| 921 | 02:37:29,609 --> 02:37:38,849 | do. And you won't see me push the button. So I'm not managing a trade. I'm reading price. I'm practicing what I'm preaching. That's how you learn it. But |
| 922 | 02:37:38,849 --> 02:37:48,299 | as soon as you all collectively are following him and taking trades, and you're putting the results and you're showing you're making money that's going to weigh |
| 923 | 02:37:48,299 --> 02:37:55,199 | on me. And I don't want that. Like I don't want to be managing your fucking trades. That's why you see all these funded accounts. Okay, these these |
| 924 | 02:37:55,199 --> 02:38:03,779 | companies. I'm not stupid. Okay, I'm not done that fucking dumb. I know exactly what the fuck is going on. That's why I asked the other day, which funded |
| 925 | 02:38:03,779 --> 02:38:13,289 | accounts all the health copiers, trade copiers. This is exactly why I should on my effects book, new 2017 Once I find out that someone's potentially going to |
| 926 | 02:38:13,289 --> 02:38:23,609 | trade in copying my fucking trades. I'm not interested. Listen, folks, I'm consistent with this. Even on trading view, I shit those accounts constantly. Do |
| 927 | 02:38:23,609 --> 02:38:30,029 | all the fucking time because I don't want to I know somebody can fucking see what I'm doing there. And I actually literally type it out in my fucking charts, |
| 928 | 02:38:30,119 --> 02:38:38,279 | stop falling my fucking trades TradingView and I fucking purposely shit the fucking trades. I do it all the time. But you can argue about that, whether |
| 929 | 02:38:38,279 --> 02:38:46,139 | that's the real reason why I'm doing or not. That's all goes to the wayside when I'm out there live and I'm calling the market. That's what I want you focusing |
| 930 | 02:38:46,139 --> 02:39:00,599 | on? That's all I'm wanting you to focus on. If you do that, okay, if you do that, you will learn what you came here for. Top down, we'll do. And we're going |
| 931 | 02:39:00,599 --> 02:39:07,739 | to note the higher timeframe key levels on a daily chart. Now what does that look like? What do I mean by that? Well, I did it this week. I outlined what I |
| 932 | 02:39:07,739 --> 02:39:16,859 | thought was gonna be the direction using the I didn't show you the weekly chart. But I guess I could later today show you the chart on the weekly and show you |
| 933 | 02:39:16,859 --> 02:39:26,609 | what I was looking at and why it was impactful. But I did focus on the daily chart. And I told you how to do and how to do how to split the wicks and taught |
| 934 | 02:39:26,609 --> 02:39:34,679 | you that the candlestick wicks are gaps. The algorithm sees wicks as gaps. So it's going to go to one of three levels, the high of the gap, the low of the |
| 935 | 02:39:34,679 --> 02:39:44,069 | gap, or the middle, which is consequent encroachment. And you saw how beautifully beautifully she followed her coding. She went exactly to those |
| 936 | 02:39:44,069 --> 02:39:51,299 | levels like I was saying today. Well, not today, but the days I'm showing you. Where are those levels where and why they're important. You don't see that in |
| 937 | 02:39:51,299 --> 02:40:01,709 | any books and retail logic anywhere. None of that shit is taught anywhere else. Okay. That was codified in 1996 in a new way you can I disputed it is what it |
| 938 | 02:40:01,709 --> 02:40:12,539 | is. So we go through the daily chart, we go through the weekly chart, and there isn't a whole lot that's necessary, but that that's the basis for framing |
| 939 | 02:40:13,019 --> 02:40:21,989 | narrative. Okay, so that way you know how to use the PV arrays, the PV arrays, are there things that are going to be noteworthy, like an order block a fair |
| 940 | 02:40:21,989 --> 02:40:30,479 | value gap on the daily chart, a weekly chart, an old high on old low, something that is going to cause the market to want to gravitate towards that level. |
| 941 | 02:40:31,019 --> 02:40:42,209 | That's how you have to build your beginning basis of a narrative. Why should the market reach that level? Well, because it's already went down here and took out |
| 942 | 02:40:42,209 --> 02:40:53,009 | sell side or went above here to take out by side. So we know whenever the stop hunt, we want to be the we want to look for the opposing arrays. So I'll give |
| 943 | 02:40:53,009 --> 02:41:04,409 | you an example. The market trades down below a kilo, whether it be weekly or daily. And it trades above it again. We reasonably expected that was a stop |
| 944 | 02:41:04,409 --> 02:41:14,609 | point. Not all the time, but that we go into our decision making process If This Then That. So if the market takes out a low and we're doing fresh analysis |
| 945 | 02:41:14,609 --> 02:41:20,459 | beginning of the week, you know, like right now we're on neutral time. So no markets are not trading. And I'm not talking about Krypton, because to me, |
| 946 | 02:41:20,669 --> 02:41:28,109 | that's done the market. But if we just killed a lot of you pissed me off and been practicing you up by saying that, but I'm don't want you to ask me about |
| 947 | 02:41:28,109 --> 02:41:37,559 | crypto. That's why I do it. I don't trade it. So please don't ask me. But our markets futures and forex is not trading right now. So this is when you want to |
| 948 | 02:41:37,559 --> 02:41:45,809 | do your analysis, your higher timeframe analysis where you're not being influenced by the the up and down ebb and flow of price action. And it's static |
| 949 | 02:41:45,809 --> 02:41:54,119 | right now, everybody in every major institution right now, there, they're looking through charts to they have their analysts looking at shit over the |
| 950 | 02:41:54,119 --> 02:42:02,729 | weekend. So that way they can get their positions squared for what they opened on Monday. How are we going to be in that pursuit of investment profits for the |
| 951 | 02:42:02,729 --> 02:42:15,059 | coming week? Everybody's losing sleep right now. Tonight, going into Sunday, worrying about what the fuck is this market going to do? Come Sunday. How are we |
| 952 | 02:42:15,059 --> 02:42:24,029 | going to trade on Mondays at 930 opening? What's going to happen? Everybody's pouring themselves over charts, drawn fucking phantom trend lines and shit and |
| 953 | 02:42:24,029 --> 02:42:31,199 | all kinds of stuff, all kinds of things. Flipping runestones on the on the grounds reading Tarot cards, getting their palms read, they're all trying to |
| 954 | 02:42:31,199 --> 02:42:41,519 | figure out what it's going to do. What we do is simply strip it down to is it likely that we're going to see the weekly candlestick that's going to form in |
| 955 | 02:42:41,519 --> 02:42:54,959 | this new week coming up, isn't going to have more potential to expand higher or lower, that sets the baseline for narrative, you need that before you get to |
| 956 | 02:42:54,959 --> 02:43:06,509 | bias. To arrive at a bias, you must understand how the narrative is likely to pan out, what's it likely to do? Well, the weekly charts likely to go up to this |
| 957 | 02:43:06,509 --> 02:43:20,099 | specific level? Then how much of a movement is that? Does it allow for multiple trades? And then you look at the daily chart, and you look for those levels as |
| 958 | 02:43:20,099 --> 02:43:31,079 | well. And there's something inside that potential price run. After it's taken outside liquidity, then you look for where's the imbalance that exists? If it |
| 959 | 02:43:31,079 --> 02:43:41,939 | does, because it may not be one? Is there a fair value gap that it may reach up to? And is it above equilibrium of the last price leg down? And if there isn't, |
| 960 | 02:43:42,239 --> 02:43:53,969 | then you look for it to go to buyside I sound like I'm trying to complicate things, but you're just watching one video of many. So you're expecting one |
| 961 | 02:43:53,969 --> 02:44:03,359 | video one posts from me on Twitter to encapsulate the entire process and the algorithm itself it's impossible it's unrealistic expectations. There's nobody |
| 962 | 02:44:03,389 --> 02:44:10,499 | that can short line this content you can't there's a lot of people out there on YouTube they're trying to do learn to ICT in five minutes each thought that it's |
| 963 | 02:44:10,529 --> 02:44:23,579 | bullshit. It's bullshit you have to go through eating this elephant one bite at a time and I've already want you going in it's a long meal. If you want |
| 964 | 02:44:23,579 --> 02:44:34,649 | precision it costs if you want Tom Dick And Harry's fucking, you know one of the algorithm in Watts bullshit posts on your fucking chart, go right ahead. Do that |
| 965 | 02:44:34,949 --> 02:44:44,429 | learn good money manage and you'll probably do well because that's the real answer there. And I'm gonna be using these higher timeframe weekly and daily PD |
| 966 | 02:44:44,429 --> 02:44:49,469 | arrays, order blocks, fair value gaps and all the highs and lows. Is that complicated? |
| 967 | 02:44:50,790 --> 02:44:58,710 | And I've got a lot of talking today but have I made anything overly complicated by saying we look at a weekly chart, the weekly chart is likely to go higher. So |
| 968 | 02:44:58,710 --> 02:45:07,560 | I'm gonna be focusing primarily To do my best biggest positions in buying only, not saying I won't sell short and go short napkins where it presents itself. But |
| 969 | 02:45:07,650 --> 02:45:17,130 | I'm only looking to limit my big heavy handed bets on the direction that the weekly chart is likely to move in not close. I'm not trying to predict the |
| 970 | 02:45:17,160 --> 02:45:26,850 | closing price on that weekly can't I'm not trying to do that I'm looking for is it more likely for that next weekly candle to have a lot of movement? You know, |
| 971 | 02:45:26,880 --> 02:45:36,210 | the largest portion of the weekly range be going up or going down? And you're probably thinking okay, well tell me how to do that. I'm going to that's what |
| 972 | 02:45:36,210 --> 02:45:43,650 | mentoring is I'm gonna fucking literally do it. I'm explain why I'm doing it. But some of you don't listen, like you're, you're asking me when am I going to |
| 973 | 02:45:43,650 --> 02:45:55,680 | do this and I've been very consistent by telling you on the seventh of February live streams are going to happen. But I think teaching every day. Each small |
| 974 | 02:45:55,680 --> 02:46:05,070 | little thing I'm giving you is one more building block. But you're all expecting that building block to be the fucking skyscraper immediately delivered to you |
| 975 | 02:46:05,070 --> 02:46:18,780 | and you understand how to live in it now. Trump Tower. I'm not a Trump fan, by the way. divisive, always divisive. A guy Tom Hogan said I was like a Moses, the |
| 976 | 02:46:18,780 --> 02:46:28,530 | vibe, the water of laughing about that. Anyway. You want to crowd you want to you want to faithful crowd be divisive. Because when they love you, you know, |
| 977 | 02:46:28,530 --> 02:46:36,060 | you got a good baseline of people to talk to you, then the people that hate you fuck them. But the ones that love you, then you have a baseline to work with, |
| 978 | 02:46:36,120 --> 02:46:43,530 | and you cater to them. And then by their results, you'll grow. That's how I've done this. There's no advertising. There's none of that bullshit. It was all |
| 979 | 02:46:43,560 --> 02:46:54,000 | it's all organic. And I had I planned all this stuff out. I am very divisive for reason, because I knew it causes smoke. And where there's smoke, there's fire. |
| 980 | 02:46:54,510 --> 02:47:04,500 | Come here, you could just burn. Once you have this higher timeframe weekly and settlement on the daily PD eraser you're looking for, then you can build a |
| 981 | 02:47:04,500 --> 02:47:17,010 | narrative utilizing the economic calendar. So certain days are more likely to produce big ranges. And what days would you expect small ranges to form just the |
| 982 | 02:47:17,010 --> 02:47:27,780 | head of a high impact news driver, like CPI FOMC rate announcements or Non Farm Payroll. Now non farm payrolls a little bit of a wonky one man. So I teach my |
| 983 | 02:47:27,780 --> 02:47:36,060 | students if you're going to trade that that week, you can trade on Monday, you can trade on Tuesday, but come Wednesday, in the New York session after that you |
| 984 | 02:47:36,060 --> 02:47:44,790 | don't want to trade because it gets really shitty. And the delivery of price tends to be on a Wednesday afternoon, not always on Sunday, you're gonna go on |
| 985 | 02:47:44,790 --> 02:47:52,830 | the charts and say look at this ICC said never trade on Wednesday, get the fuck out of here. I'm saying over my 30 years of experience doing this. I have |
| 986 | 02:47:52,830 --> 02:48:04,320 | learned to not want to trade in Wednesday afternoon. Even though you watch me do it. Thursday's trading and on Friday are non farm payrolls, don't trade that. |
| 987 | 02:48:05,160 --> 02:48:15,180 | Now, that does not mean that price is sitting still. It's not moving around. There are trades there. But as a new student who I'm always talking to, it's |
| 988 | 02:48:15,210 --> 02:48:26,070 | important for you to know that those market environments are not the same. As a week after Non Farm Payroll, there's a lot of heavy manipulation that goes on |
| 989 | 02:48:26,070 --> 02:48:38,280 | that week. There's a lot of wait and see type conditions and the market is tends to be really unfavorable. I can push the button in those days I can do it. I've |
| 990 | 02:48:38,280 --> 02:48:51,210 | done it. I've proven it. But as a new developing student, it doesn't have experience. You can hurt yourself. So I tried to do my best to make you aware of |
| 991 | 02:48:51,210 --> 02:49:01,230 | where these snares these pitfalls, these traps these things that are going to hurt you these thorn bushes. Okay, you don't need to be enticed by the pretty |
| 992 | 02:49:01,230 --> 02:49:07,950 | flower that everybody puts up on social media. So look at this rose I collected today on Non Farm Payroll. And then when you fuck and try to do it next Friday, |
| 993 | 02:49:08,040 --> 02:49:18,120 | you get a thorn in your hand. I'm trying to prevent that. Okay, because I hurt myself doing those things because I believe these assholes that put up these |
| 994 | 02:49:18,120 --> 02:49:27,810 | systems. If your pops up read your seller on Non Farm Payroll, if it pops up green, you're a buyer and they're trying to predict the numbers and I lost so |
| 995 | 02:49:27,810 --> 02:49:36,990 | much fucking money doing that shit. Like wait for Non Farm Payroll if you if you want to do anything, wait for non payment Non Farm Payroll, Non Farm Payroll, |
| 996 | 02:49:37,440 --> 02:49:44,820 | tongue twister there. Wait 20 minutes 30 minutes after Non Farm Payroll and then look for imbalances or liquidity and then boom, there it is. You can trade it. |
| 997 | 02:49:45,480 --> 02:49:54,750 | But I want to be consistent because I knew the new students that come to me are not listening attentively. They're cherry picking what they want to hear the |
| 998 | 02:49:54,750 --> 02:50:04,290 | waiting for this is the buy this is a sale. Here's my stop. Here's the target. That's what you're listening for. So I'm like a bulldozer don't trade them. It |
| 999 | 02:50:04,290 --> 02:50:11,160 | makes it easy to manage you. And then ultimately, it's your responsibility. You hurt yourself those days because I said, Don't do it, right. So that's why I |
| 1000 | 02:50:11,160 --> 02:50:23,130 | teach the way I do. I'm trying to be, and this might sound arrogant and a little off base. But some of you need a dad, okay to tell you. Sometimes shit ain't |
| 1001 | 02:50:23,130 --> 02:50:32,370 | right. And sometimes, you got to just listen to me. And trust that, trust me, I've done this before I've been here. I know that I have students that are older |
| 1002 | 02:50:32,370 --> 02:50:41,070 | than me. Okay. But the ones that appreciate good wisdom and good, good, real knowledge, they reach out and say, Look, I appreciate I'm older than you. I'm 80 |
| 1003 | 02:50:41,070 --> 02:50:48,810 | years old, and I can hear you like I can hear the Father in you telling your students this, and I can appreciate it resonates with me, and I'm older than |
| 1004 | 02:50:48,810 --> 02:50:57,570 | you. And I appreciate that. Like, I like that kind of stuff. I like that more than you're the greatest of all time coaches. I can't fucking stand that. But |
| 1005 | 02:50:57,840 --> 02:51:10,020 | anyway, we're almost there, folks, only a quarter of the way left. Okay. Congratulations, you've endured another one. So what's a simple model? Okay, |
| 1006 | 02:51:10,020 --> 02:51:16,320 | what is a simple model? That way you can build this blueprint, or at least start thinking about this weekend, like, where are you going in this pursuit this |
| 1007 | 02:51:16,320 --> 02:51:26,490 | year, you can't wait to see what I'm gonna do. Oh, I can't wait to see what you're gonna do. Okay. But as a simple model, we're using the ES the E Mini s&p, |
| 1008 | 02:51:26,550 --> 02:51:36,750 | that's our market. And we're focusing our attention on 930 to noon. Now, I'm not going to be here all the way till noon, I'll probably usually close the session |
| 1009 | 02:51:36,750 --> 02:51:45,360 | around 11 o'clock, I will tell you what I think may happen. But most of the time, you're going to see if there was a setup, it's usually probably panned out |
| 1010 | 02:51:45,360 --> 02:51:53,490 | by 11 o'clock. And if it's anything less, it's going to be a partial that You could pretend to manage in your own attention, and falling price. Okay, but from |
| 1011 | 02:51:53,490 --> 02:52:06,600 | 930 opening, that's the model from 930, to noon. So that would be your working hours, I will be in live session at 830. I want to see the news drivers if there |
| 1012 | 02:52:06,600 --> 02:52:13,620 | is one. And I will be putting us in less sessions when there won't be a new driver set where you can see the difference on how we trade those and what we |
| 1013 | 02:52:13,620 --> 02:52:25,260 | would encounter, how to think about it, what the what the process will be. But my time will be usually like quarter after eight in New York local time. That |
| 1014 | 02:52:25,260 --> 02:52:36,210 | way, there's 15 minutes to do my bullshit monologues. And then at 830, we'll watch the delivery of price after that, and then I will have my charts open. But |
| 1015 | 02:52:36,210 --> 02:52:47,340 | I'll probably walk away until like 10, after nine. And then I'll start watching price again. And prepare for the 930 opening, I'll give you what my expectations |
| 1016 | 02:52:47,340 --> 02:52:54,150 | are what I would like to see what I don't want to see. And then we wait for it to materialize. And then I would say this is what we would expect to see price |
| 1017 | 02:52:54,150 --> 02:53:02,760 | in next. And I'll start painting the narrative based on every one minute and five minute candle, and you'll watch it over my own charts, you'll see it on my |
| 1018 | 02:53:02,760 --> 02:53:10,740 | charts, you'll see it's not fucking delayed, okay, it's real. And if you have been listened to me all this time, I've told you the only way you're gonna be |
| 1019 | 02:53:10,740 --> 02:53:20,310 | able to see this live, and you can't even trade. Like with delayed data. You can't do it with trading view. And I'm in trading view. So you'll see it you'll |
| 1020 | 02:53:20,580 --> 02:53:29,190 | now explain why I'm expecting it to happen. You will see consistency you will see understanding and price action you will get comfortable with not knowing |
| 1021 | 02:53:29,190 --> 02:53:37,200 | when there is nothing to do. There's time someone that is there. And you will see that there's no reason to be afraid of that. Or feel like you don't know |
| 1022 | 02:53:37,200 --> 02:53:47,580 | something. If you don't know something, that's when you sit still. There are times as a trader, I don't know enough. Is it? Does it mean that I'm ignorant to |
| 1023 | 02:53:47,580 --> 02:53:55,140 | how markets operate? No, it means I understand how they fucking operate. And it means I know that this is a trap. Retail will chase everything during those |
| 1024 | 02:53:55,140 --> 02:54:05,550 | times. I'm not going to. And I'm teaching you how to do that to know when to do it. When not to do it. The best valuable lesson you can learn is when not to do |
| 1025 | 02:54:05,550 --> 02:54:15,780 | something walking up to the pot that's sitting on the stove. You just got home. You don't know if that pots hot, until when you walk over and you put your hand |
| 1026 | 02:54:15,780 --> 02:54:25,890 | on it too fast and burn your hands or you put your hand near it. You respect the risk of mmm, I burned my hand here. That's experience you burned your hand |
| 1027 | 02:54:25,890 --> 02:54:33,960 | before. You didn't learn that lesson of just not touching the pot yet just getting close to does it feel warm. Now, as a kid, you don't know what you don't |
| 1028 | 02:54:33,960 --> 02:54:42,780 | know the experience of getting burned. And that's exactly the mindset that most of you that are coming to me are. So I'm teaching you with that perspective in |
| 1029 | 02:54:42,780 --> 02:54:44,520 | mind. It may seem |
| 1030 | 02:54:45,870 --> 02:54:53,070 | disrespectful to some of you the way I teach. It may seem like you're talking to me like a kid. You know, I'm gonna go look I get it. But I'm also aware that |
| 1031 | 02:54:53,070 --> 02:54:59,640 | some of you motherfuckers don't want to listen. And you get yourself in situations and I gotta read emails about I wish I want to listen to you. I wish |
| 1032 | 02:54:59,640 --> 02:55:09,570 | I would have done Unless I wish I would have done that. And that's all avoidable. It's all 100% avoidable because you're learning in a condition where |
| 1033 | 02:55:09,570 --> 02:55:23,310 | there's no risk. That's the only way you can cut through the bullshit and read price. The outcome is, are you seeing price do the things I'm teaching you, if |
| 1034 | 02:55:23,310 --> 02:55:32,010 | that's what you learn to do, and you can forecast that and track real time order flow, without depth of market with all the bullshit, we're just looking at the |
| 1035 | 02:55:32,010 --> 02:55:42,210 | candlesticks. That's all we're doing time and price. That's all we're doing. You will not see a fucking indicator pop up on my fucking chart ever. The open high, |
| 1036 | 02:55:42,210 --> 02:55:49,200 | low and close on a one and five minute chart once we start going in the beginning, I will revisit the weekly and the daily I'll show you the key levels |
| 1037 | 02:55:49,200 --> 02:55:56,400 | that are impactful. But we're going to rate break down into the one to five minute charts that will have those annotated levels from those higher |
| 1038 | 02:55:56,400 --> 02:56:06,990 | timeframes. So you can see how price gyrates and gravitates towards them based on specific times of the day. And you will grow confident in your ability to be |
| 1039 | 02:56:06,990 --> 02:56:18,210 | able to do this because you have been trained to see it, you will see exactly what's going on. And over time, you will adopt the same mindset that I have, |
| 1040 | 02:56:18,540 --> 02:56:31,050 | where you can reasonably trust. Not unequivocally not absolutely trust, it's never going to fail. But you will learn to trust the things I'm teaching you |
| 1041 | 02:56:31,200 --> 02:56:42,060 | have a high measure of merit. And they repeat a lot more than they fail if certain conditions are met. And I know that your head swirling right now what |
| 1042 | 02:56:42,060 --> 02:56:51,750 | are those conditions? Why can't you just spell it out, you will learn it better and more effectively by me doing it in front of you. Certain lessons can't be |
| 1043 | 02:56:51,750 --> 02:57:01,020 | taught in a book, you can't, you just can't do it. Unless you see it done. And a lot of you, you're going to discover that you are better visual learners. And |
| 1044 | 02:57:01,020 --> 02:57:07,650 | that's why it's been a struggle for you because you have to go in and find these things on your own. And if you don't know what you're doing, or what you're |
| 1045 | 02:57:07,650 --> 02:57:15,480 | looking for, it feels like it's a never ending cycle of learning, but never getting to where you should be arriving. And that's I understand, it's |
| 1046 | 02:57:15,480 --> 02:57:23,730 | understandable. But if you sit in front of charts and watch the real time data, if you do that for several months, you will know right away what I was talking |
| 1047 | 02:57:23,730 --> 02:57:31,770 | about in those lectures, and it will resonate with you. And because I know some of you haven't done that, this is the opportunity for you to be enticed by me. |
| 1048 | 02:57:32,790 --> 02:57:42,540 | It's for your it's better for you to see it. Even though I know that some of you are going to copy me and do this trades. I don't want to know about it. Okay, |
| 1049 | 02:57:42,540 --> 02:57:52,980 | that's all I'm asking. Don't. It's like the dad, I know you're going on a date. I don't want you to do certain things. But I can't stop you and I can't control |
| 1050 | 02:57:52,980 --> 02:58:00,240 | what you do when you're outside of my sight. But I just don't want you bring it home babies. Okay? Don't come home, tell me that somebody's not that. I don't |
| 1051 | 02:58:00,240 --> 02:58:07,620 | want to hear about it. Okay, whether you made money or lost money, that's your fucking business. That's the bed you make you lie in it. Okay, that's all I'm |
| 1052 | 02:58:07,620 --> 02:58:17,010 | saying. That's all I'm going to put out there. And that is the last time I'm going to talk about. But we will go through the expectation of looking for a |
| 1053 | 02:58:17,010 --> 02:58:25,680 | setup between 930. And most of the time, you're gonna see that the setup usually pans out by 11 o'clock. And then we're focusing trading inside the intraday |
| 1054 | 02:58:25,680 --> 02:58:36,720 | price action. So day trading, and the specific time is nine 930 to noon, that that window of opportunity. And your time is always going to be New York time |
| 1055 | 02:58:38,400 --> 02:58:47,610 | focusing on pdra Matrix inside that fractal. So the other day, when I put up a video and I shaded out the 930 to noon, I said this is your window, this is what |
| 1056 | 02:58:47,610 --> 02:59:00,030 | you're focusing on everything prior to that. You don't give a shit about you don't care about it. It's irrelevant. Unless I talk about it, unless it's |
| 1057 | 02:59:00,030 --> 02:59:11,640 | encapsulated in that little fractal of time, what time 930 shade that all ever to noon. Everything you're looking for and hunting for is going to occur in that |
| 1058 | 02:59:11,640 --> 02:59:22,680 | time window. Now, that's the aspect of what you're focusing on for where the setups going to form because it's time. What are you looking for next price. So |
| 1059 | 02:59:22,680 --> 02:59:33,480 | where has it been in that range? That's what you're looking for. You want to see what is it referring to next? And there's going to reach outside the boundaries |
| 1060 | 02:59:33,780 --> 02:59:43,590 | of the present range that's formed or is it going to stay within that? And that won't make any sense to you until you are with me looking over my shoulder and |
| 1061 | 02:59:43,590 --> 02:59:54,090 | I'll explain it to you. That's what I mean by certain certain topics. Unless you watch me articulated live over the chart. It won't make any sense. It will feel |
| 1062 | 02:59:54,090 --> 03:00:04,710 | like it's disjointed and it wasn't a premeditated action on my part. To make it feel that way, it's just this the way it is. Like, you can't, you can't do it |
| 1063 | 03:00:04,740 --> 03:00:13,470 | unless you do it. You can't learn it, unless you get your hands in it and, and see it, and does handle it each day seeing it over and over and over again, |
| 1064 | 03:00:13,500 --> 03:00:20,490 | that's what I'm doing with you with Twitter, I'm prompting your attention to look at a specific element of time, watch this level, watch where it's going to |
| 1065 | 03:00:20,490 --> 03:00:28,590 | go to next. This is what we're looking for. And then you see it. Look at the excitement, everybody's posting and the response. Man, this is great. This is so |
| 1066 | 03:00:28,590 --> 03:00:36,960 | fun. Exactly. That's how learning should be. That's how it should be. Because when it's fun, it's engaging, it makes you feel like wow, this is not a waste of |
| 1067 | 03:00:36,960 --> 03:00:44,460 | my time, I really see the the effects of what I'm doing here. Like there's a there's a real result painting out, which is what we were expecting, it was |
| 1068 | 03:00:44,460 --> 03:00:54,960 | measured, and it delivers. Amazing. Now, contrast that with everything I've tried to do in all these books and shit. And I've never been able to see this |
| 1069 | 03:00:54,960 --> 03:01:05,640 | type of precision and continuity. I've never, I've never been able to find anything else deliver what I'm trying to share with you. So hopefully, you know, |
| 1070 | 03:01:05,670 --> 03:01:13,710 | hopefully, that's a selling point when you're not spending any money with me, right. And we're gonna be utilizing the medium and high impact news drivers. |
| 1071 | 03:01:13,710 --> 03:01:20,850 | That means the economic calendar, I will talk you through that. Obviously, every day on the Twitter feed, I tell you, you'd be mindful of certain things at |
| 1072 | 03:01:20,850 --> 03:01:31,050 | certain times. And we're risking no more than 1%. Hypothetically, if we're looking at the moves, okay, you need to go back and reflect on it after the fact |
| 1073 | 03:01:31,080 --> 03:01:37,860 | you're not watching it and thinking this is how much money I'd be making or losing. after the fact when you do all your markups. And you annotate your chart |
| 1074 | 03:01:37,860 --> 03:01:44,970 | and you record your your observations for that day. And that case study that we've done. You want to go through and say okay, hypothetically, using what I |
| 1075 | 03:01:44,970 --> 03:01:53,760 | just watched today, I would have used potentially this entry point, this price and where my stop would be how much drawdown would have incurred? How much time |
| 1076 | 03:01:53,760 --> 03:02:06,750 | did it take before the drawdown or first partial was met? And how long does it take before the trade actually goes to fruition and reaches Terminus that means |
| 1077 | 03:02:06,750 --> 03:02:14,760 | our target, or where we would have been stopped out hypothetically, because I'll walk you through when price is there, I think it should not go to this level. |
| 1078 | 03:02:14,760 --> 03:02:24,690 | Whenever I say price should not revisit this level in your mind for annotation purposes later on. That's where you have a hypothetical stop loss. Okay, some of |
| 1079 | 03:02:24,690 --> 03:02:32,070 | you are going to interpret that as that's where I need to raise my stop to or lower my stop to, I don't want to hear about it. Okay, but that's what your |
| 1080 | 03:02:32,070 --> 03:02:40,740 | mindset is after the fact. So that way you're doing what I teach my students to do, if you can't watch it live, the same lesson is profitable for you to go |
| 1081 | 03:02:40,740 --> 03:02:48,060 | through it. In hindsight, the same way, you'll have the benefit of watching Real Time Data because my chart will be live recorded, showing a one and five minute |
| 1082 | 03:02:48,060 --> 03:02:59,790 | chart. So there's no disadvantage here. Because even if you sat down and watched me talk about it live, it's the same experience, especially if you don't look at |
| 1083 | 03:02:59,790 --> 03:03:09,570 | the chart, like if you can't be here live, don't look at anything, come home, do your normal everyday thing, okay? Don't look at the charts, just go to my live |
| 1084 | 03:03:09,570 --> 03:03:18,210 | stream. And watch it from that perspective only. And you will have the same experience that individuals that are gonna be watching me live do it, they'll |
| 1085 | 03:03:18,210 --> 03:03:26,550 | have that same you'll have that same experience. It'll be unknown to you what actually transpires, you won't have an inside edge to know what actually panned |
| 1086 | 03:03:26,550 --> 03:03:35,820 | out afterwards. So it won't distract you. And you'll see what it feels like to be watching it and explain what it shouldn't shouldn't do. And it's a really |
| 1087 | 03:03:35,820 --> 03:03:44,850 | rewarding thing. It will convince you to do it when I'm not live stream because I'm not going to watch you every day. I've only committed to a week, because |
| 1088 | 03:03:44,850 --> 03:03:51,720 | you'll see it's a lot and several hours two times and look at this shit. I'm still talking to you now. Okay, it takes a lot of time out of your week. A lot |
| 1089 | 03:03:51,720 --> 03:04:00,090 | of people don't have a whole lot of time, right? But this year, I'm making my time available to you. And if you do the things I'm telling you to do, you will |
| 1090 | 03:04:00,090 --> 03:04:04,170 | learn what it is you're here for. And I think |
| 1091 | 03:04:09,660 --> 03:04:19,710 | I think I've got one more thing when you're looking at your trades. Okay, hypothetical trades, when you're logging it. You're talking to yourself and your |
| 1092 | 03:04:19,710 --> 03:04:33,780 | charts. Like I see this, or I'm sorry, I seen this fair value gap. And I felt confident that that was a strong area for me to go in, enter on. And I felt |
| 1093 | 03:04:33,780 --> 03:04:44,520 | confident that my stop loss placed here would mitigate any undue anxiety. And I would trust the fact that getting stopped out here would be a good thing and it |
| 1094 | 03:04:44,520 --> 03:04:56,100 | would limit my loss. It sounds artificial. It sounds stilted. It sounds disingenuous. It is it's total fucking bullshit. But you're giving yourself |
| 1095 | 03:04:56,100 --> 03:05:04,860 | positive self talk in your charts. So that way when the week pans out out, in on the weekend, you're looking back, you're seeing the chart, you're going in there |
| 1096 | 03:05:04,860 --> 03:05:14,910 | recording the whole process all over again, by seeing every individual candle, and you're reading those annotations. It's in your own words, you wrote it. But |
| 1097 | 03:05:14,910 --> 03:05:24,510 | your subconscious sees that, and you're feeling the dopamine of wow, this really panned out. Look how this whole week when you're going into that journal, you |
| 1098 | 03:05:24,630 --> 03:05:32,790 | already know, it's a love fucking story that you already know, it's a good fucking thing. It's good. But when you go back and you read it, in your own |
| 1099 | 03:05:32,790 --> 03:05:42,930 | words that you saw that coming, you saw that your self talk is positive, you're absolutely not shitting on anything about the marketplace that you did or didn't |
| 1100 | 03:05:42,930 --> 03:05:57,720 | see. Nothing negative ever gets into your journal, nothing. Nothing. There's always a way to an emotionally be detached from recording something that would |
| 1101 | 03:05:57,720 --> 03:06:08,190 | be not a favorable outcome. And what do I mean by that? The days that you see me outline it, I want you to adopt that same mindset, like you saw the same thing I |
| 1102 | 03:06:08,190 --> 03:06:17,190 | saw, but from your perspective, and say, Okay, I was looking for this Saturday, I got to support price, it was unsuccessful here. And this is what I learned |
| 1103 | 03:06:17,190 --> 03:06:25,710 | from it. See the difference between that and saying, this fucking shit never works, I always get the wrong ones, you're gonna, you don't want anything |
| 1104 | 03:06:25,710 --> 03:06:33,930 | negative in your journal, because when you refer back to it, one Saturday or Sunday, whenever you use you do it when the markets not trading, you want to go |
| 1105 | 03:06:33,930 --> 03:06:43,620 | through your Monday through Friday markups, and then record how much draw down every one of these potential setups were there. And then read out loud, in your |
| 1106 | 03:06:43,620 --> 03:06:54,000 | own words, every annotation, it's like meditation. And I know it doesn't seem like it's going to be all that impactful. But you're literally coaching yourself |
| 1107 | 03:06:54,030 --> 03:07:02,340 | with the most positive influence that you can do. And you're tricking your subconscious into thinking that that was experience that you had and foresight |
| 1108 | 03:07:02,340 --> 03:07:12,330 | that you knew beforehand. That's how you train your reticular activating system. When you see something over and over again. And it's a positive thing. It |
| 1109 | 03:07:12,330 --> 03:07:22,920 | combats fear and anxiety. And it reinforces the understanding of what it is that your pattern recognition should be zeroing in on when you're watching price. You |
| 1110 | 03:07:22,920 --> 03:07:34,500 | cannot teach yourself any other way. That that's it. That's the secret sauce, that learning how to do this effectively and properly. And no, it will not |
| 1111 | 03:07:34,500 --> 03:07:41,160 | happen in one week, it will not be in one month, it won't be in three months, it won't be in four months, it's going to take the whole fucking year. Okay, so |
| 1112 | 03:07:41,160 --> 03:07:51,540 | pack a fucking lunch, bring some road snacks, no beer, no intoxication, leave your leave your weed, you know, for the weekend. But when we're doing this shit, |
| 1113 | 03:07:51,570 --> 03:08:00,990 | you got to be 100%, lucid 100% Leave the baggage of that door. Leave all your bullshit preconceived ideas about what you think the markets going to do on your |
| 1114 | 03:08:01,020 --> 03:08:11,550 | indicators or anybody else. Focus. Focus on what I'm talking about. What I'm not talking about is not important. That's all you need to do show up, roll your |
| 1115 | 03:08:11,550 --> 03:08:20,910 | sleeves up and just have fun. Have fun, and I promise you everything, everything that was a sticking point for you. I'm going to remove all that this year, |
| 1116 | 03:08:21,780 --> 03:08:31,170 | you're going to have no hindrances whatsoever, except for the time required being here. And it's expensive, it's expensive. This cost more than any amount |
| 1117 | 03:08:31,170 --> 03:08:38,820 | of money I would have charged, because you already have anxiety about it. You're not going to waste my fucking time this guy, I'm not going to waste my time with |
| 1118 | 03:08:38,820 --> 03:08:49,410 | this shit. What happens if I go into this? I'm watching for two months. And this shit doesn't make any sense to me still? How do you know yet? How do you know |
| 1119 | 03:08:50,310 --> 03:09:00,840 | that that's something to be even worrying about right now. Because I believe I've already presented enough reason to do a further investigation for free. And |
| 1120 | 03:09:00,840 --> 03:09:09,690 | if anything, I promise you're gonna come up with a better understanding about price anyway. And keep pressing into it, showing up every day doing the same |
| 1121 | 03:09:09,690 --> 03:09:17,520 | things I'm teaching you to do, even when I don't do it. That means when I'm not doing a live session, you need to be doing what it is I did in the live |
| 1122 | 03:09:17,520 --> 03:09:27,030 | sessions, how I did it, what I'm expecting why certain things repeat over and over and over again. And you'll see there's continuity there. And you're also |
| 1123 | 03:09:27,030 --> 03:09:37,830 | see, when I get it wrong. There's no emotion. There's no shame, no embarrassment. It says okay, here's what it didn't do this. So now what do we |
| 1124 | 03:09:37,830 --> 03:09:45,180 | do? Here's the process. We do this, this this and we don't do this, this and this. And then we either close the charts or we wait for more information or we |
| 1125 | 03:09:45,300 --> 03:09:56,850 | wait for the afternoon session. There's a process that I'll walk you through and it's something that you need to see being done. And you'll see all this anxiety, |
| 1126 | 03:09:57,060 --> 03:10:06,570 | all these fearful things that you're so concerned about. right now are such a distraction for no reason. All the negative things that you're thinking right |
| 1127 | 03:10:06,570 --> 03:10:13,860 | now, but what if it doesn't do this? And what if it doesn't work? And what if it this? And what if that and with the market makers go against ICT on every trade, |
| 1128 | 03:10:14,070 --> 03:10:27,240 | that would be interesting women. Sign up, it just show up for that, right? That's a good enough reason to show that right? It seemed blow it the negative |
| 1129 | 03:10:27,240 --> 03:10:39,840 | thoughts that you're thinking right now, and I'm gonna say this, and I'm gonna close it. You're placing so much emphasis on the potential of this being a |
| 1130 | 03:10:39,840 --> 03:10:53,430 | waste, and a scary thing to endure. And you don't want to waste any of your time. You don't want to be a victim of ICT. Oh, I believe is bullshit. And it |
| 1131 | 03:10:53,430 --> 03:11:00,180 | didn't work. That's what you're that's what you're feeling right now. Not all of you, some of you, I'm talking to the ones that are just really on the fence |
| 1132 | 03:11:00,180 --> 03:11:10,950 | still. But if you're being honest with yourself, you're doing that with most of everything in your life. You're more prone to be anxious about everything, not |
| 1133 | 03:11:10,950 --> 03:11:23,490 | just what I'm about to show you. And I understand what that feels like I live with generalized anxiety and high anxiety to the point of agoraphobia, where I |
| 1134 | 03:11:23,490 --> 03:11:34,650 | didn't want to be around other people. I'm going to help you overcome at least this part of your anxiety, I'm going to show you that you can do this, I'm going |
| 1135 | 03:11:34,650 --> 03:11:43,230 | to show you that you can forecast price action, you can get it wrong sometimes and still be right More times than not. And I want you to trust that you have |
| 1136 | 03:11:43,260 --> 03:11:55,170 | everything in you to be able to do this. You just need to be guided that's all you need to be shown what to focus on what not to focus on. Find a way to be |
| 1137 | 03:11:56,460 --> 03:12:08,580 | disciplined, repeat the same things over and over again. And the results cumulatively over the year you will see is profitable. I am not saying profit in |
| 1138 | 03:12:08,580 --> 03:12:16,980 | terms of money, you're learning your experience and understanding how to reprice, it will be profitable, you will have more understanding than you have |
| 1139 | 03:12:17,430 --> 03:12:28,770 | right now. And it will be an encouragement to you. And it will help you combat future anxiety. Because there will be times where the markets gonna get shitty |
| 1140 | 03:12:29,970 --> 03:12:37,380 | this year we could potentially go into a period where it gets really really really hard. And that's great because that means I'm going to teach you in that |
| 1141 | 03:12:37,380 --> 03:12:45,690 | environment. And if you can find setups in that when the salad days comes when it's easy day's trading so what I mean by that where it just falls into your |
| 1142 | 03:12:45,690 --> 03:12:54,000 | favor so fast and you can see the steps coming a mile away. You get an take a trade and it just runs away right perfectly like you want it to like yesterday |
| 1143 | 03:12:54,780 --> 03:13:06,000 | when I showed you the real integral entries in the markets took off. Funny how that iceberg order was in there, Patrick at the same time I've called out the |
| 1144 | 03:13:06,510 --> 03:13:19,380 | actual Hi one minute candle and you mentioned the iceberg. Cool how that worked in it. Dump right to where we were looking for. So you're seeing I have a lot of |
| 1145 | 03:13:19,380 --> 03:13:28,140 | magic tricks to share. No you enjoy this year, I promise you, but that's going to be it for this one. I went a little bit longer than I wanted to but I know |
| 1146 | 03:13:28,140 --> 03:13:34,500 | some of you really don't like these long ones. Most of you really don't like these long ones, but some of you really like them. And the ones that love it. |
| 1147 | 03:13:34,530 --> 03:13:45,300 | That's the one I'm catering to. But anyway, that's gonna be it for this one. I will touch base with you obviously by way of Twitter on Monday, Lord willing and |
| 1148 | 03:13:45,360 --> 03:13:48,480 | till then enjoy the rest of the weekend and be safe |