017-ict-tw-spaces-20230311-The-Culling...
Last modified by Drunk Monkey on 2023-03-16 11:17
Outline
00:31 - When do you set aside a time when you're not trying to be as active or not even trade at all?
06:11 - What’s going to happen if you don’t have the money to take care of things.
12:20 - As long as there’s a market, you’ll find a way to eat -.
18:11 - You have to put the work in to get this.
24:20 - If you lose your job, it will be one of the best things for you -.
30:47 - Why these fluctuations in price are not random, they go to levels that make perfect sense.
35:19 - Selling short in the fear of a gap.
41:46 - Don’t be a student of the market.
48:37 - Why it’s important to guard your mind.
54:42 - Why won’t these order blocks work? -.
59:43 - It’s so easy to psych yourself out unconvinced.
01:04:46 - Preparing yourself mentally for the worst.
01:10:26 - You have to know what you’re doing.
01:16:35 - You will never learn how to trade unless you master yourself -.
01:22:35 - You might win, but here’s what’s going to happen after 10 minutes.
01:28:37 - You’re doing your job.
01:33:55 - When the markets are moving around with the intent to take you out, why would you want to trade?
01:39:29 - What does it feel like when you see what you’ve been expecting?
01:45:25 - What’s going to happen in the market this summer.
01:51:50 - Central bank digital currencies coming.
01:58:23 - What are the buzzwords you’re going to hear?
02:03:40 - What is the currency of the interviews?
02:10:33 - What it’s like to see so many people’s lives being impacted and changed for the better because of this.
02:17:39 - The fear of missing out in crypto.
Transcription
| 1 | 00:00:31,980 --> 00:00:46,200 | ICT: Good evening, folks. Welcome back. So usually I do these things on Saturday, but my younger son and my wife asked for my weekend. So I'll be doing |
| 2 | 00:00:46,200 --> 00:01:01,860 | this tonight. And then we'll all enjoy our weekends, hopefully, and rejoin ourselves to the market on Monday. So we've had a pretty eventful week, this |
| 3 | 00:01:01,860 --> 00:01:16,980 | week, we had a Non Farm Payroll protocol. And much like I've warned, every time I talk about, like, I asked a question about when do you set aside a time when |
| 4 | 00:01:16,980 --> 00:01:27,120 | you're not trying to be as active or not even trade at all. And one of those weeks for me is non farm payrolls. I don't like to trade on Thursday, and I |
| 5 | 00:01:27,120 --> 00:01:39,090 | don't like to trade on the Friday and you watch me do Thursday and Friday executions. There are times when it's going to move. And it's not most of the |
| 6 | 00:01:39,090 --> 00:01:46,830 | time, it's sometimes. And there's a lot of things going on right now that are causing fluctuations in the marketplace. |
| 7 | 00:01:54,269 --> 00:02:08,519 | Perhaps you noticed today that there was a major bank, discard garnered a lot of attention. Because it's been shut down by the authorities. And to be honest with |
| 8 | 00:02:08,519 --> 00:02:20,429 | you, I don't know the details. So I'm not gonna talk too much about it. But imagine for a moment that you had money in that bank right now. In fact, what if |
| 9 | 00:02:20,429 --> 00:02:33,179 | it was the only bank account that you had your money in? There's a lot of people lining up in front of that bank right now. Trying to get their money, hoping |
| 10 | 00:02:33,179 --> 00:02:53,279 | they can get their money. We're told that the FDIC is there to save Rs, just in case up to 250,000 hours per bank per account. Well, what if I told you there |
| 11 | 00:02:53,279 --> 00:03:06,089 | isn't enough money to cover everything? And what if I told you that the FDIC terms state that they could pay up to 100 years before they give you your money |
| 12 | 00:03:06,089 --> 00:03:21,569 | back? So that's the fine print folks. So there's, there's a calling about the beginning. And it's probably already beginning on I mentioned this many times, |
| 13 | 00:03:21,989 --> 00:03:34,499 | in the past, where you, why are you learning how to do this trading thing, to prepare yourself to live a better life. Some of you want to get rich. And some |
| 14 | 00:03:34,499 --> 00:03:42,809 | of you just want to make ends meet. And some of you just want to have a secondary income to do whatever it is that you want to do. All of those things |
| 15 | 00:03:42,809 --> 00:03:58,679 | are fine. There's nothing wrong with that. But take a moment and think for a second. What if you are blocked from having access to your money? If you |
| 16 | 00:03:58,679 --> 00:04:13,499 | couldn't get into the account to get it, the bank doors were closed. The website wouldn't let you in. Would you be prepared to handle something like that? What |
| 17 | 00:04:13,499 --> 00:04:29,609 | if there was a delay of two weeks, or a month or more before you had access to your house ready for something like that? Now, I'm not trying to scare you. This |
| 18 | 00:04:29,609 --> 00:04:40,049 | is actually a good message. But I want you to kind of think about something like that. Because just because we have FDIC insurance, supposedly protecting our |
| 19 | 00:04:40,079 --> 00:04:55,439 | bank accounts and the deposits. I personally I don't have a lot of faith in that. In fact, I don't have an answer as an alternative either. There's some of |
| 20 | 00:04:55,439 --> 00:05:05,099 | you raise your hand say let's that's cryptos job. That's why we have Bitcoin and we have all these All coins, we won't have that problem. There'll be another |
| 21 | 00:05:05,099 --> 00:05:25,739 | discussion later in this month. But hopefully seen this week, there's a way to potentially harvest a potential secondary income. And that secondary income can |
| 22 | 00:05:25,739 --> 00:05:47,609 | be modest. It can be above average, it could replace a job, it could many times replace a salary several times over. It matters not what your specific goal is. |
| 23 | 00:05:48,719 --> 00:06:03,119 | Because your goal was yours, mine are mine and everyone else listening to this. They all have their own goals. But you have to prepare while you make money. |
| 24 | 00:06:03,809 --> 00:06:15,809 | When you make money, you have to prepare for times that are coming very hard. Everything's expensive now, yes, I know. They're gonna get more expensive, |
| 25 | 00:06:16,439 --> 00:06:34,619 | harder to get. Back in 2008, and 2009, we had the Lehman Brothers in potential financial meltdown that was averted by the good old taxpayers of the United |
| 26 | 00:06:34,619 --> 00:06:52,499 | States. We came in and bailed them out. There's already talk about bailing out this particular bank. Whether that happens or not, I don't know. But if you |
| 27 | 00:06:52,499 --> 00:07:03,329 | studied the history around 2008 2009, they would lead you to believe that that was potentially financial Armageddon, everything was going to melt down unless |
| 28 | 00:07:03,329 --> 00:07:17,909 | we bailed them out. So I want you to be aware that there are things that unfortunately, are uncomfortable to talk about. They're not fun, they're not |
| 29 | 00:07:17,909 --> 00:07:36,989 | sexy. You're not in vogue. But we're fastly approaching a time. When if you aren't prepared to have the money that you're earning from your trading, to be |
| 30 | 00:07:36,989 --> 00:07:50,009 | able to take care of things. Like how much cash do you have on hand? Most of us have just a debit card or credit card. And we have money in the bank. But what |
| 31 | 00:07:50,009 --> 00:08:06,599 | happens if you can't access it? How would you be able to function? Could you get gas in your car? Could you get groceries, diapers, formula, medicines and |
| 32 | 00:08:06,599 --> 00:08:16,679 | prescriptions? See, we've grown accustomed to thinking that it's always available to us have it right now at our fingertips, push a button, it's ours. |
| 33 | 00:08:16,679 --> 00:08:26,669 | It's right there. And there's a lot of families right now that are scared because of what's going on with the bank that they have money in some of these |
| 34 | 00:08:26,669 --> 00:08:42,749 | companies that actually have employees, they may not be getting paid. Imagine that. Imagine that. They have mortgages, families defeat car notes to pay |
| 35 | 00:08:43,679 --> 00:08:54,569 | insurance payments, everything like you and I and we're all sitting back chillin right now, on a Friday evening listening to some goober talk about stuff that |
| 36 | 00:08:54,569 --> 00:09:07,559 | you probably weren't wanting to talk about. But they are not thinking that sit back and chill. They're very uncomfortable right now. And rightfully so. But my |
| 37 | 00:09:07,979 --> 00:09:18,899 | concern is I'm not panicking. I'm not going to lose sleep over this. But it's the here's my concern. Over the years, whenever I've talked about, quote |
| 38 | 00:09:18,899 --> 00:09:35,069 | unquote, tinfoil hat discussions, the the reminder has always been for me to you as the listener is they will pull something on a Friday, going into a weekend. |
| 39 | 00:09:37,439 --> 00:09:51,509 | That's the MO that's the way they operate. That's just the way it is. And true to form. Here we have a bank failing on a Friday and that's going to be the |
| 40 | 00:09:52,349 --> 00:10:04,319 | excuse. Why the market went down. We were already looking for the lower prices in s&p. That's not The reason why it went down, but it's a perfect excuse for |
| 41 | 00:10:04,319 --> 00:10:20,519 | why it does. These markets are going to be changing here over the coming months and maybe two years. But more specifically, as we go into the latter portion of |
| 42 | 00:10:20,519 --> 00:10:35,399 | this year, in the beginning of next year, and you have to do what you can do, to be diligent about learning how to do this now. Because the stresses that are |
| 43 | 00:10:35,399 --> 00:10:47,519 | coming, are going to plague those individuals out there that don't have a game plan. They don't know how to trade. They don't know how to invest, they don't |
| 44 | 00:10:47,519 --> 00:10:56,939 | have control of themselves, they don't know what you're looking for in the charts. And you have been witnessing exactly what we look for, and how wonderful |
| 45 | 00:10:56,939 --> 00:11:12,959 | it is to be informed. So you may not be trading with live funds yet. But you are informed money. You're just not putting it the task yet. That you are informed, |
| 46 | 00:11:13,319 --> 00:11:24,689 | you're seeing things that 99.9% of the people in the world that speculate in trade, are unaware of. They're looking at things that have no bearing on price, |
| 47 | 00:11:25,649 --> 00:11:40,739 | and attributing a religion to it that this is what makes price go up. In the same types of speculators, these same types of traders are going to be called |
| 48 | 00:11:41,219 --> 00:11:55,199 | soon what is called me a reduction a collection a gathering with the purposes of removal |
| 49 | 00:12:02,760 --> 00:12:15,360 | I'm not gonna be able to spare all of you obviously, you're all gonna have your own demons to wrestle with and your own character flaws and that's normal. But |
| 50 | 00:12:15,360 --> 00:12:25,740 | for those that are here this year to put the time and effort into it. You're learning a skill set. As long as there's a market and we have access to it |
| 51 | 00:12:28,920 --> 00:12:47,910 | you'll probably find a way to eat you'll probably find a way to make ends meet I promise you this over the next 24 months everybody's expectations about pursuing |
| 52 | 00:12:47,910 --> 00:12:57,360 | the good life that's going to be diluted it's going to be I'm glad I can make ends meet |
| 53 | 00:13:02,370 --> 00:13:13,560 | so your job is once you hate it right now you should be thankful for your habit. Because that's one income stream stream that you have as long as you show up. |
| 54 | 00:13:14,340 --> 00:13:30,420 | You get the participation award within the week paycheck or every two weeks but you're building a business on the side the goal is to either duplicate or |
| 55 | 00:13:30,420 --> 00:13:46,470 | replace entirely that jobs income where everybody else in speculation and trading they want to Lamborghini they want to Ferrari they want to they don't |
| 56 | 00:13:46,470 --> 00:13:57,030 | want to Bugatti do they Nobody wants a Bugatti. I'm so tempted to get one. Can you imagine it's it up on my banner on my YouTube channel. Look at this guy do |
| 57 | 00:13:57,030 --> 00:14:12,030 | gaudy. It's a demo. Everybody else has got that mindset right now they still want to pursue you know that Luxe Life ain't nothing wrong with it. But they're |
| 58 | 00:14:12,030 --> 00:14:22,710 | going to find that it's going to be much more challenging in the coming weeks and months in a year. And a lot of things are going to change and it's going to |
| 59 | 00:14:22,980 --> 00:14:46,080 | change will come up abruptly just like it did for some that have their money in that bank, Silicon Valley Bank. The CEO knew he sold a $4 million dollars worth |
| 60 | 00:14:46,080 --> 00:15:07,950 | of stock about two weeks ago. You don't have to answer for that I'm sure but this calling that's coming is going to remove a whole lot of ignorant unknowing |
| 61 | 00:15:08,640 --> 00:15:24,270 | Street money in the markets, it's going to be a bloodbath. They're not going to know what to do, they're going to panic. And they're going to heavily bet, just |
| 62 | 00:15:24,270 --> 00:15:38,940 | to get themselves out of something is going to parlay something worse, and they're going to lose their money. You're learning how not to do that. You're |
| 63 | 00:15:38,940 --> 00:15:51,510 | learning a market, it's very difficult right now. But guess what? It still works. It still works. It works both directions. You can be a buyer and a seller |
| 64 | 00:15:51,510 --> 00:16:10,920 | on the same day, you can trade without a bias, you can trade with Tobias. You're learning very succinct principles. Concepts, times of the day, when these things |
| 65 | 00:16:10,920 --> 00:16:24,810 | should occur. And you're also seeing evidence to know when it's not there. Well, get out of the trade. Before it turns on you. Stuff that books don't talk about |
| 66 | 00:16:25,830 --> 00:16:39,360 | things that aren't taught in courses. Because the average bear doesn't know what they plow ahead, looking for that next set of that next fill. Give me the bag, |
| 67 | 00:16:39,360 --> 00:16:53,850 | give me this, give me the start. Give me the target. Don't worry me. With all this boring discussion, is psychology stuff. When those candlesticks is a study |
| 68 | 00:16:53,850 --> 00:17:12,690 | of psychology, your personal and everyone else trading. You're reading the minds of everybody out there. And you're projecting your hopes and fears into those |
| 69 | 00:17:12,690 --> 00:17:24,450 | candlesticks when you're a trader. As a new trader, you're projecting every fear and anxiety. It's no demand. It's the end of the world. When you look at these |
| 70 | 00:17:24,450 --> 00:17:37,110 | candlesticks and you're in a lot of trade, you have no trust, no baseline to feel confident about what it is you're doing. And as a seasoned trader, someone |
| 71 | 00:17:37,110 --> 00:17:46,470 | that knows what to look for has been here before, they're not experiencing their first rodeo. They're familiar with a bowl that bucks around and wants to throw |
| 72 | 00:17:46,470 --> 00:17:59,760 | them off. That's normal. But the first time bull rider doesn't feel that way. They're regretting him. They should have kept the rear end on the couch, where |
| 73 | 00:17:59,760 --> 00:18:03,150 | it was safe to watch it. Not bucked around. |
| 74 | 00:18:11,250 --> 00:18:28,080 | But you're learning. And some of you I'm pleased to notice that you have been aware, just in the first month, how much you have been learning and encouraged |
| 75 | 00:18:28,080 --> 00:18:39,180 | as a mentor, because sometimes I wonder, are you really putting the work in? Are you just watching tweets and waiting for me to the point something and that's |
| 76 | 00:18:39,180 --> 00:18:48,390 | the extent of it, that's your participation. That's the level of interaction, it's going to be there. And it won't go any further than that. And that's |
| 77 | 00:18:48,390 --> 00:18:58,080 | unfortunate. That's what you are right now. My encouragement is for you to get more involved because we only have a few more months left. Think about how fast |
| 78 | 00:18:58,110 --> 00:19:15,630 | January 1 came and went. And we're starting the middle of March already next week. Time flies, folks, it's not gonna wait for you. And yes, I know there's a |
| 79 | 00:19:15,630 --> 00:19:28,140 | lot of other things you could probably want to do. Instead of looking at charts and back testing, staring at recordings that you've recorded a live price data |
| 80 | 00:19:28,140 --> 00:19:38,970 | while you are at work or at school, or sleeping. But that feeling of I wish I could do something else right now. That's easier to satisfy once you have this |
| 81 | 00:19:38,970 --> 00:19:52,380 | skill set. Once you have this skill set, your schedule becomes flexible. Where is not flexible right now. You're trying to cram in everything that makes your |
| 82 | 00:19:52,380 --> 00:20:08,700 | life feel pleasant, fun, rewarding because you need it as a distraction. right now. And I'm reminding you that you need to keep your focus on this task this |
| 83 | 00:20:08,700 --> 00:20:20,430 | year. It will serve you well, going forward. But you have to work for it, you have to show up every day you have to put the work in and do the things that are |
| 84 | 00:20:20,430 --> 00:20:40,980 | uncomfortable right now. Differ weekend living. Differ all the little perks, the things that take your attention, money, energy, pour all that into this. You're |
| 85 | 00:20:40,980 --> 00:20:54,060 | making an investment in yourself. And this investment, you can't even imagine how much better it'll be for you. Once you have it, and you're implementing it |
| 86 | 00:20:54,450 --> 00:21:09,960 | when everybody else. When everybody else is getting sacked, made redundant at their job, because that's coming. That's part of the calling as well. This whole |
| 87 | 00:21:09,960 --> 00:21:21,060 | thing with COVID, the last few years, I told everybody that was in the earshot of me, you're not going to see the real problems that shutting down everything |
| 88 | 00:21:21,090 --> 00:21:39,690 | as long as we did. It's all coming home to roost. It just hasn't made its way to your household yet. Some of you it has. For many of you it hasn't yet. And the |
| 89 | 00:21:39,690 --> 00:21:52,140 | best thing you can be doing right now is what you're doing right at this moment. taking in information, taking in information that you can take translate that |
| 90 | 00:21:52,140 --> 00:21:57,750 | into a skill and that skill translate into a another income stream. |
| 91 | 00:22:03,869 --> 00:22:16,169 | That's insurance. It's insurance that pays you not that you pay it. And as long as you don't have to use it should be thankful. This is insurance that it's |
| 92 | 00:22:16,169 --> 00:22:35,999 | going to pay you pay your children, your spouse, significant other your family tree. And when everyone else next year, is freaking out, panicking, not having |
| 93 | 00:22:35,999 --> 00:22:59,219 | enough. You're going to be in a position to have more because you have this skill set. Remember, one contract, one mini contract put the task five handles a |
| 94 | 00:22:59,219 --> 00:23:09,569 | day. And you can see how easy that is. Don't be discouraged if you're new and you think that that was a statement that makes you feel inferior. Oh, that just |
| 95 | 00:23:09,569 --> 00:23:17,729 | makes me feel bad because you say it's easy. And it's I don't think it's easy yet. It'll be easy by the end of the year. You have to keep showing up. |
| 96 | 00:23:18,389 --> 00:23:32,909 | Remember, you didn't swipe a credit card here. There's no PayPal. No Vimeo, no cash app, nothing. The only thing you're doing is letting me help you by just |
| 97 | 00:23:32,909 --> 00:23:45,959 | showing up taking the information. There's no ads here. I'm spending my Friday night investing in you. And the worst thing to do is just listen and view it as |
| 98 | 00:23:45,959 --> 00:24:09,629 | entertainment. But everybody else next year they're going to be feeling things that are going to be hardship and you you right now are investing you are |
| 99 | 00:24:09,629 --> 00:24:21,689 | storing up experience that you can put the work next year when everybody else is feeling like the world's caving in on them. They can't afford things they can't |
| 100 | 00:24:21,689 --> 00:24:23,129 | do things they lost her job |
| 101 | 00:24:29,460 --> 00:24:38,970 | you're going to be in position where you don't have to feel that way. And if you do lose your job that's probably going to be one of the best things for you |
| 102 | 00:24:38,970 --> 00:24:57,030 | because then you're free to do what trade more so your mindsets, transforming right now. Some of you faster than others. Before understanding how to do this, |
| 103 | 00:24:57,090 --> 00:25:07,260 | it will be terrifying for you to lose your job for Some of you know already this audio. What would I do if I lost my job? What would I do? What would my family |
| 104 | 00:25:07,320 --> 00:25:21,420 | do? How would we make it? We live paycheck to paycheck, I can't afford it. You're learning a skill set, and you've done the math already. Just a little |
| 105 | 00:25:21,420 --> 00:25:36,120 | bit. Just a little bit of effort. Over the span of one trading day, replaces your job. |
| 106 | 00:25:42,450 --> 00:25:52,290 | The reason why it doesn't feel like that's possible for you is because you've magnified all of your problems. You've elevated every obstacle that you may or |
| 107 | 00:25:52,290 --> 00:26:02,160 | may not actually have. Because what if thinking, what if this happens? But what if that happens? What if I fail? What if I don't really learn how to make money |
| 108 | 00:26:02,370 --> 00:26:17,910 | before November nicey? T stops, and I don't know how to do it. You'll have everything at your fingertips. Don't worry. Worrying about how you're going to |
| 109 | 00:26:17,910 --> 00:26:30,690 | be in November is irrelevant right now. What happens if you learn how to do it? before November? You've worried about nothing that was worth worrying about. |
| 110 | 00:26:33,780 --> 00:26:50,730 | Your way of thinking should be? How exciting is it going to be? How exciting is it going to be? For me as a new developed speculator with a skill set that I now |
| 111 | 00:26:50,730 --> 00:27:06,840 | am armed with. And whatever this world throws at me. I'm not limited to whatever my paycheck tells me I'm worth. That's how you should be thinking. Not what if I |
| 112 | 00:27:06,840 --> 00:27:19,470 | don't learn this in time? What if what if I, I start I lose money, you're going to lose money the rest of your career. So every trader does. Losing is part of |
| 113 | 00:27:19,470 --> 00:27:30,990 | it. And you're worrying about it, like it's going to go away like you couldn't avoid it. You watch me have losing trades this week. Did it have any effect. If |
| 114 | 00:27:30,990 --> 00:27:47,460 | you watch that last video, you can see it didn't affect the results. But your skill set that's in development right now. It's like a superpower that you |
| 115 | 00:27:47,460 --> 00:28:00,120 | haven't discovered you have yet somebody who's gonna give you overconfidence and almost stroke your ego to the point where you think you're better than anyone |
| 116 | 00:28:00,120 --> 00:28:17,730 | and everyone. You'll be humbled. And for those that are more balanced, prepared for the responsibilities of having this new superpower what's the superpower by |
| 117 | 00:28:17,730 --> 00:28:36,750 | the way, what is a superpower the ability to write your own checks to go on your own steam to be able to tell Carl to pound sand, enjoy work and Carl places to |
| 118 | 00:28:36,750 --> 00:28:41,370 | be in people to see and you want to. |
| 119 | 00:28:48,510 --> 00:29:00,120 | So you're going to have a whole lot of things to be thankful for next year. You just don't realize it yet. Your friends and your family right now. Probably the |
| 120 | 00:29:00,120 --> 00:29:14,100 | ones that told you you're wasting your time. They're gonna be very uncomfortable next year. And they may remember that you were doing this, and they may notice |
| 121 | 00:29:14,100 --> 00:29:29,850 | that you aren't really living in lack. And they may want to do what you're doing. And you'll probably be you'll probably be in a better position mentally |
| 122 | 00:29:30,930 --> 00:29:40,560 | to sit down and help them because you're prepared. Whereas if you are trying to learn how to do it, when everything around us is falling apart. When the stress |
| 123 | 00:29:40,560 --> 00:29:56,550 | is extremely high. It's very difficult to learn anything. So you're all becoming these potential support structures to your friends and family. Once you |
| 124 | 00:29:56,550 --> 00:30:06,450 | understand what it is you're supposed to do You're a resource that you can choose to live your life, not wanting to help anybody else. And that's your |
| 125 | 00:30:06,450 --> 00:30:16,350 | prerogative, you can do that. It's not my hope and aim for that for all of you, it's obviously for you to be empowered to not only take care of yourself and |
| 126 | 00:30:16,350 --> 00:30:26,430 | your family. But to help anyone else out there, if you can raise your hand help, you're gonna see a whole lot of that opportunity next year, probably before the |
| 127 | 00:30:26,430 --> 00:30:27,120 | end of this year. |
| 128 | 00:30:33,990 --> 00:30:47,970 | Seeing what you've witnessed with just this new concept of a new week opening gap, and seeing how that draws price to a much like a black hole. These |
| 129 | 00:30:48,150 --> 00:30:59,130 | fluctuations in price, they're not random folks. They go to levels that make perfect sense. If you understand what that level is about. What's the purpose of |
| 130 | 00:30:59,130 --> 00:31:02,730 | it? Why should it go there? |
| 131 | 00:31:08,430 --> 00:31:21,750 | It's been very satisfying over the last two and a half weeks reading the comments where all of you are in your charts. And observing how price is |
| 132 | 00:31:21,750 --> 00:31:39,480 | reacting to these levels, and gyrating to them, drawing into them like a magnet and how consistently they behave. It's been in your charts all this time. In |
| 133 | 00:31:39,480 --> 00:31:55,230 | fact, people talk about them. There's gaps. Of course, there's gaps. Of course. I said he didn't invent a gap. But ICT taught us it's not just gaps like the |
| 134 | 00:31:55,230 --> 00:32:12,630 | field. Now it's filled. Right next. Can't wait till tomorrow. Who cares? Another gap? No. I'm using yesterday's gap. Last week's gap two weeks ago is gap. so |
| 135 | 00:32:12,630 --> 00:32:34,020 | forth. And if you're bearish, you're really looking for these to draw pricing. If you start looking at how they nest over the course of weeks and months, you |
| 136 | 00:32:34,020 --> 00:32:42,360 | can actually start to see the market structure that's been there the whole time. But it's eluded you and everybody else that doesn't know how to do this year. |
| 137 | 00:32:46,560 --> 00:33:06,330 | You heard what I said? Go on your charts and you'll see how the market works from short term low intermediate term low, long term low. Vice versa. The market |
| 138 | 00:33:06,330 --> 00:33:27,360 | is not random folks. Yes, yes, indeed. There is an algorithm and you're seeing it and it's delivering. Exactly. Now it's could there's fluctuations in price |
| 139 | 00:33:27,360 --> 00:33:41,070 | action on Non Farm Payroll weeks that are a little squirrely. You see me have to navigate. And one of my trades didn't pan out to full profit. It gave me my |
| 140 | 00:33:41,070 --> 00:33:57,900 | first target 3087, which is what I tweeted. When we're in the 4000s it dropped down here, and then gave me an indication that was going to go that direction. |
| 141 | 00:33:58,560 --> 00:34:11,640 | And you watched me on a fly, just like that reverse. I remember the first time one of my older students and mentorship, they watched me reverse right on the |
| 142 | 00:34:11,640 --> 00:34:26,370 | dime, just boom, spit theorists gone other direction. And they were like, that was crazy to see that. And he wants that today that comes with experience that |
| 143 | 00:34:26,370 --> 00:34:33,990 | comes with understanding what you're looking for. But also know this if it wasn't Non Farm Payroll, my target would have been hit today. That little box of |
| 144 | 00:34:33,990 --> 00:34:44,610 | said was time stopper. It would have been right up here. That's why I don't like trading Thursday and Friday of Non Farm Payroll because there's too much |
| 145 | 00:34:44,640 --> 00:34:59,310 | intervention there's too much hand in the cookie jar moving things around. I know what the algorithm is going to do. But I don't know when the human is going |
| 146 | 00:34:59,310 --> 00:35:16,590 | to go in there. and disrupted. So you have to be extremely nimble to navigate it, if you're gonna play it at all because that is what typically takes place. |
| 147 | 00:35:19,830 --> 00:35:36,360 | It's not a erratic amount of buying and selling pressure. It's not what it is at the start of the morning, you saw the fairway ghupat, wind went real. And that |
| 148 | 00:35:36,360 --> 00:35:36,990 | was high the day |
| 149 | 00:35:43,290 --> 00:35:54,120 | I made allowance for maybe running for another attempt higher. I showed you another chart where it runs above that that would be in if I was being honest |
| 150 | 00:35:54,120 --> 00:36:05,730 | 100% If it had gone to that one, I would have called that as the daily high. But it just so happened that the first rake up I outlined that was the high the day |
| 151 | 00:36:06,840 --> 00:36:24,270 | in the market started going lower. Sorry, the lower saw a comment. When I was doing the afternoon session trade dropped down to a fear of a gap that I changed |
| 152 | 00:36:24,270 --> 00:36:35,490 | the color to obviously to whenever I have a fear of a gap that's like a hue of red or pink or something to affect. That's usually my view of it being bearish. |
| 153 | 00:36:36,210 --> 00:36:48,240 | If it's green or blue, that affect I'm viewing it as something bullish. If it's not either one of them, then I'm just waiting for more information. It's It's |
| 154 | 00:36:48,270 --> 00:37:02,460 | um, observing. Like Sun ASEAN, it was there any reason why my colors are use. And I said, Well, I guess subconsciously, that's how I internalize it. But I |
| 155 | 00:37:02,460 --> 00:37:11,550 | never really actively said anything about it. I think maybe some of you that were more aware in looking at things more critically, probably observed that. |
| 156 | 00:37:13,710 --> 00:37:25,350 | But I saw the tweet sent to me after I shared the the afternoon trades. Where I sold short as it was inside of a fair value gap, that price was above it traded |
| 157 | 00:37:25,350 --> 00:37:38,970 | down into it. And I went short right there. Because you're in an area of inefficiency, my expectation was price is going to go lower. So the price is |
| 158 | 00:37:38,970 --> 00:37:53,700 | going to go lower, you can trade short, in the fear of a gap anywhere as soon as it enters it, it's okay. It's the equivalent of selling short on a sell stop. |
| 159 | 00:37:54,240 --> 00:38:05,280 | That's how I internalize it. But I'm trading within a range of that fair value got I'm trying to get, preferably consequent crushing the midpoint. Because |
| 160 | 00:38:05,280 --> 00:38:17,520 | that's like, the perfect little area where I don't need to be at the high end of it to be short. And it's not the lowest of the range that makes that fair value |
| 161 | 00:38:17,520 --> 00:38:30,540 | gap. So I'm trying to get in there anything better than the low what the fair value gap. When I'm bearish. And you saw how that performed, it moved outside |
| 162 | 00:38:30,540 --> 00:38:41,910 | the fair value gap went down below came back up. And then I added more as it bumped the bottom of the fair Vega. See, that's what real support resistance |
| 163 | 00:38:42,000 --> 00:38:51,480 | should perform like in price. The problem is, you aren't ever going to know which line to draw. That's correct, because it's always going to go through it |
| 164 | 00:38:51,690 --> 00:39:05,220 | not respected. And that's why it look if it was just as simple as Support Resistance. Those books would be constantly on the best sellers list. They're |
| 165 | 00:39:05,220 --> 00:39:20,130 | not because it's subjective. Whereas if you understand the first 30 minutes of trading 930 to 10 o'clock. I've been intrigued and notice that not one of you. |
| 166 | 00:39:21,090 --> 00:39:34,230 | Not one of you has yet noticed this, but it should go in your journal right now. In the first 30 minutes, the fair value gap that I mentioned every time that's |
| 167 | 00:39:34,230 --> 00:39:44,160 | the one that's critical throughout the rest of the day. Have you noticed that? Oh no, I gotta go through that. Now. I gotta go through all my charts and go |
| 168 | 00:39:44,160 --> 00:39:46,110 | back and look at those tweets. Yeah, it's there. |
| 169 | 00:39:51,660 --> 00:40:02,310 | You'll learn about that this year. What's the significance in that? You'll learn it just one step at a time. I can give you every thing in a big gigantic blob of |
| 170 | 00:40:02,310 --> 00:40:19,470 | information. But is it going to help you, you have to have pieces of it shown to you one piece at a time. And you'll know perfect illustration of that is my |
| 171 | 00:40:19,470 --> 00:40:33,900 | mentorship students that paid me and I crammed a decade or so worth of information inside of one year, which is that core content that's up on my |
| 172 | 00:40:33,900 --> 00:40:44,100 | YouTube channel right now. And people that went through it tapped out early, they couldn't handle it. Because it takes a lot more a lot more effort than they |
| 173 | 00:40:44,100 --> 00:40:50,040 | wanted to put in. A lot more things to remember a lot more things to sort out |
| 174 | 00:40:56,610 --> 00:41:10,890 | those things are going to take you time to learn. And which ones are you going to use for you. That's what this whole year is about. I'm showing you not the |
| 175 | 00:41:10,890 --> 00:41:22,380 | same thing all the time, I'm showing you different approaches to using the things that's already on my YouTube channel, allowing you as the viewer, the |
| 176 | 00:41:22,380 --> 00:41:34,230 | trader in the making, to decide, wow, that makes perfect sense to me. I'm going to use that predominantly. And I'm aware of this and most of everyone else's, |
| 177 | 00:41:35,520 --> 00:41:47,310 | too, when it comes to me teaching something new. It's like that's it. That's the thing. That's the thing I was needing all this time. And for some of you that |
| 178 | 00:41:47,310 --> 00:41:55,710 | might be true. That might be true for some of you. But there are students in mind that I see. And I recognize them all the time that no matter what it is I |
| 179 | 00:41:55,710 --> 00:42:06,330 | teach if it's something new, they will invariably say this is it. This is the panacea. This is the be all end all this is the silver bullet. And it's just |
| 180 | 00:42:06,330 --> 00:42:13,500 | their excitement about learning something new. See there? They are perpetual students, like my daughter, my daughter wants to be a college student the rest |
| 181 | 00:42:13,500 --> 00:42:25,830 | of her life. Like, I understand that, but you shouldn't have that mindset. Especially as a student of mine. Yes, I guess it is fascinating, because I |
| 182 | 00:42:25,830 --> 00:42:39,210 | think, you know, it's my life's work and is great. But your job is not to just love everything because ICT talked about it. And I am thankful that some of you |
| 183 | 00:42:39,240 --> 00:42:47,430 | just feel that way. But let's face it, not everybody is going to trade a breaker. Not everybody is going to trade a institutional order flow entry drill, |
| 184 | 00:42:48,300 --> 00:42:55,200 | it just isn't going to resonate with them. It doesn't mean it sucks. It doesn't mean that one thing is better than the other. And I get a lot of questions sent |
| 185 | 00:42:55,200 --> 00:43:07,080 | to me through TradingView and Twitter, which pdra is better. In the new one I just saw the other day. It may have been today. It's a bit of a blur in time. |
| 186 | 00:43:07,080 --> 00:43:20,970 | But the tweet was what's more powerful and more and more significant. A divergence between the NASDAQ and ES or ES in the dollar. To which I responded, |
| 187 | 00:43:20,970 --> 00:43:32,490 | they're equally efficient. Like there's there's no advantage. One of them is enough. If there's both $1 and index divergence between the three averages, the |
| 188 | 00:43:32,490 --> 00:43:46,140 | Dow the NASDAQ, and yes, if one of those failed to confirm lower lows or higher highs, that's enough. It doesn't matter if one is the Dow that diverges, or if |
| 189 | 00:43:46,140 --> 00:43:57,780 | it's the NASDAQ or if it's the ES, as long as one of them diverges. And you have a narrative already in mind. Then the SMP, it means something. But just because |
| 190 | 00:43:57,810 --> 00:44:09,720 | SMT is forming. If you don't know what you're doing, if you don't know where you are in market structure, where you are in time of day, what liquidity is yet to |
| 191 | 00:44:09,720 --> 00:44:18,780 | be taken and engaged, or what inefficiency it's aiming for. You can trick yourself just by looking at SMT. But it's funny how when I'm talking about SMT |
| 192 | 00:44:18,780 --> 00:44:30,960 | it's there. Why? Because I'm bringing you the narrative. That's the part I'm lending to you that experience watching price through my eyes. Those old 50 year |
| 193 | 00:44:30,960 --> 00:44:45,810 | old, tired eyes you're learning how to do this incrementally. It's the only way you can learn it. And for some of you it's not happening fast enough in your |
| 194 | 00:44:45,810 --> 00:44:57,210 | vocalizing. Well, no vocalizing sharing your frustrations through tweets. And I must say it's unfortunate because I've asked many times for you not to do that |
| 195 | 00:44:57,210 --> 00:45:07,050 | because, number one, the only thing you're doing is reading forcing subconsciously, that you're probably going to be unsuccessful. Because you're |
| 196 | 00:45:07,050 --> 00:45:19,800 | focusing on, you're elevating, you're placing all the emphasis on your shortcomings. And you're doing it in a negative light, like you're bringing all |
| 197 | 00:45:19,800 --> 00:45:28,590 | the energy in highlight and spotlight on the fact that you can't do it. I saw a student or a viewer, I'm not sure what it is, it could be somebody just |
| 198 | 00:45:28,590 --> 00:45:37,470 | trolling. But they said, I hate myself because I can't learn this. Well, that's the worst thing. Apparently, you're not listening. Because if you really feel |
| 199 | 00:45:37,470 --> 00:45:53,340 | that way, and you felt compelled to type that out, and just toss that out there in the abyss, into the ether, what's going to happen? You kept some of that. |
| 200 | 00:45:54,930 --> 00:46:06,600 | Internally, you kept it, you didn't throw it away by just typing into the internet, sending it into Twitter. You signed it to your soul that you'd |
| 201 | 00:46:06,600 --> 00:46:24,330 | literally tattooed the pain, the regret of that tweet that that emotional stimuli that you've elevated it to, you have retained that internally. And you |
| 202 | 00:46:24,330 --> 00:46:41,550 | now have to work through that. And every time you do it, you're building up more callus. More callous, that makes it harder for you to get down to the flexible |
| 203 | 00:46:41,550 --> 00:46:54,360 | skin that you have to be as a trader, when you build up all these calluses, which is all emotional, psychologically done to yourself, you lose the |
| 204 | 00:46:54,360 --> 00:47:03,870 | elasticity of having healthy skin as a trader. That's why it's important for you to listen to me. So that way you don't get the scar tissue. The scar tissue is |
| 205 | 00:47:03,870 --> 00:47:16,110 | not so elastic, it limits you. I've been stabbed in my thigh as a younger man to try to take my car off me. And every now and then, if I'm doing certain |
| 206 | 00:47:16,140 --> 00:47:28,320 | stretches or whatever, I can still feel that tugging in my thigh, because there's scar tissue there. So the same thing applies with you. While you're |
| 207 | 00:47:28,320 --> 00:47:45,540 | learning how to do this, you don't want to encapsulate a negative feeling about your shortcomings don't encapsulate that moment of regret, or despair or doubt. |
| 208 | 00:47:47,820 --> 00:47:58,590 | Instead, whenever you had that impulse to do that, you need to change the vocabulary. Instead of saying, I hate myself, because I can't learn this shit. |
| 209 | 00:47:58,950 --> 00:48:13,710 | That was the tweet. Instead of typing that out and sending it into the ether on Twitter, say something like this. I'm not there yet, but I'm excited that I'm |
| 210 | 00:48:13,710 --> 00:48:27,180 | going to absolutely kill it. And I will know exactly how to do this before I ever thought I could. Now, you may not wholeheartedly believe everything you |
| 211 | 00:48:27,180 --> 00:48:41,250 | just typed. But your subconscious retained it. You're programming yourself with positive self talk. It's important, folks. It's absolutely crucial. Because this |
| 212 | 00:48:41,250 --> 00:48:54,210 | game is won between the ears. It's not one with the clicking of your mouse. Because long before you press that button on your mouse, there's a war going on |
| 213 | 00:48:54,360 --> 00:49:07,320 | between those two temples of yours. That gray matter that seven pound universe that's inside your skull. It's wrestling. And the only thing it's wrestling with |
| 214 | 00:49:07,470 --> 00:49:18,210 | is the only thing you gave it. The worrisome thoughts that would have thinking, what if I fail? What if people ever weather my last at me? What if they asked me |
| 215 | 00:49:18,210 --> 00:49:29,070 | for my results and I can't show it? What if my spouse asked me? Did you lose any money today? So that's what you're feeding yourself. You're feeding yourself |
| 216 | 00:49:29,070 --> 00:49:44,790 | that constant diet of negativity. Is it any wonder or surprise when it comes time to doing a trade? You're scared. Of course it doesn't make any sense for |
| 217 | 00:49:44,790 --> 00:49:59,430 | you not to be scared because you've conditioned yourself and then you feel like you shouldn't be scared to press the button or worried about the outcome or if |
| 218 | 00:49:59,430 --> 00:50:08,760 | you take a loss It's monumental now. Because you've told yourself dozens of times, before you even walk to your computer, before you even check the charts, |
| 219 | 00:50:08,820 --> 00:50:17,070 | you've already convinced yourself that you're probably gonna lose mine today, I'm probably gonna lose money today, it's gonna be one of those days, where I'm |
| 220 | 00:50:17,070 --> 00:50:33,330 | gonna get negative or what. And then you go on to social media, like it's your therapist, like someone's going to be coddling you, and saying, honey, it's |
| 221 | 00:50:33,330 --> 00:50:45,570 | okay, this chin up, keep doing exactly what you're doing. And you'll get there. I'm not going to tell you that. If you take those things into Twitter, and my |
| 222 | 00:50:45,570 --> 00:50:56,100 | handles attached to it, you're never going to hear me or see me say, keep doing what you're doing, buddy. That's the right way of doing it. |
| 223 | 00:50:57,030 --> 00:51:10,950 | That's the wrong way of doing it. You're in COURAGING, negative thinking, toxic thinking more specifically. And you have to guard yourself from doing they're in |
| 224 | 00:51:10,950 --> 00:51:22,770 | the middle, it's hard, especially when you're new, it just feels normal for you to vent. Believe me, I know all about that. But when you're new, and you're |
| 225 | 00:51:22,770 --> 00:51:39,330 | learning, it's crucial that you guard your mind. And you don't allow your mind to run around like a child and emotionally charged every experience in light of |
| 226 | 00:51:39,630 --> 00:51:55,470 | its negative implications on you as a trader or as a person. It's important for you to understand that that is a counterproductive trait that many people do. |
| 227 | 00:51:56,550 --> 00:52:14,400 | And unfortunately, it does them in. It prevents them from ever finding success. It prevents them from reaching their highest performance. Where they don't have |
| 228 | 00:52:14,400 --> 00:52:31,500 | to worry about the outcome. Do you think that major league athletes like baseball players, football players, even golfers? Do you think they're out there |
| 229 | 00:52:31,500 --> 00:52:39,510 | thinking themselves right before they swing the bat? Before they wait for the quarterback to snatch the ball and send it to whoever is going to be expected to |
| 230 | 00:52:39,510 --> 00:52:51,630 | catch it? Or when they're out there? Give me swing that putter? Do you think they're telling themselves? They're about to blow it here. This is going to be |
| 231 | 00:52:51,630 --> 00:53:04,140 | the worst thing I've ever done in my entire career. And I'm being televised. You think you're doing that? Chances are they're probably not. What are you probably |
| 232 | 00:53:04,140 --> 00:53:15,090 | doing at a time? They're focusing on what their conditioning and training has brought them to that very moment. What am I supposed to be focused on? This is |
| 233 | 00:53:15,090 --> 00:53:26,070 | the play we're about to do this play. The Playbook says the coach said, This is what we're doing. It doesn't matter what just happened. Two plays ago or last |
| 234 | 00:53:26,070 --> 00:53:39,840 | inning last quarter, whatever what whole. We're here right now. What's the process? I'm supposed to do this because this is what's happening. So therefore, |
| 235 | 00:53:40,020 --> 00:53:51,810 | this is what's been given to me. I have to make a decision. What's my process? What's my experience? Tell me? I'm leaning on that not would have thinking. If |
| 236 | 00:53:51,810 --> 00:54:03,720 | the quarterback takes the ball, snatches it is starts thinking, what if I throw the ball to the wrong player, then they don't have time to ever thinking about |
| 237 | 00:54:03,720 --> 00:54:14,430 | that stuff. Major League Baseball players with high batting averages, they're not stepping up to the plate and thinking themselves well, you know, I instruct |
| 238 | 00:54:14,430 --> 00:54:23,310 | out in a while, it's probably a good time to start doing it. That's not what they do. That's not what they do. But some of you, all of us really in the |
| 239 | 00:54:23,310 --> 00:54:34,080 | beginning. As traders when we're new, we're out there saying, suck. Me I'm never gonna get this stuff. This is really hard. This is way harder than I thought it |
| 240 | 00:54:34,080 --> 00:54:50,880 | was. This is BS. I'm never going to make it. Why am I failing at this? Why won't these order blocks work? Because you're frustrated, and it's normal. But you |
| 241 | 00:54:50,880 --> 00:55:02,610 | have to replace that with positive self talk. You are your best cheerleader. You're the only cheerleader that's going to have an impact on you. Yes, that's |
| 242 | 00:55:02,610 --> 00:55:10,650 | true. Because yes, you can go out there and lie on social media and pretend to be something you're not. Or you can share something you got lucky with and wait |
| 243 | 00:55:10,650 --> 00:55:21,510 | for other people to like the comment, comment on and say, Well, you're the goat. And the only thing that's doing is what it stroking your ego, when you know, |
| 244 | 00:55:22,200 --> 00:55:32,820 | you're not gonna be able to replicate that, again. It's just an aberration right now, just, it just happened. And you know it, but you want to feel good. So you |
| 245 | 00:55:32,820 --> 00:55:44,670 | toss it up to do this, in the ether, on Twitter, on Instagram. So that way, someone will see you. And they'll pat you on the back. And that's a false sense |
| 246 | 00:55:44,670 --> 00:55:59,940 | of security. That's a false sense of security. That's a false sense of accomplishment. So it goes both ways. You shouldn't talk to yourself in a |
| 247 | 00:55:59,940 --> 00:56:15,930 | negative light, when you don't do well. Because your subconscious is so powerful, it's absolutely crucial that you feed it the right things. If you |
| 248 | 00:56:15,930 --> 00:56:28,620 | constantly give it negativity, it's going to show up. And it's going to present what you fed it. You're going to get in, you're going to get out of it, what you |
| 249 | 00:56:28,620 --> 00:56:39,630 | put into it. If you constantly feed yourself negativity, highly critical of yourself doubting yourself. When it comes time to do something, in trading in |
| 250 | 00:56:39,630 --> 00:56:52,290 | anything, you're going to second guess you're going to doubt you're going to procrastinate. And even when you do make a move, you won't be doing it with |
| 251 | 00:56:52,290 --> 00:57:03,090 | confidence. Because you're going to expect what what your subconscious already told you is going to happen, you're going to fail. And here you are doing it |
| 252 | 00:57:03,090 --> 00:57:11,310 | over and over again, expecting something different to happen. That must be the epiphany ICT is talking about, I'm looking for this thing to happen. You're |
| 253 | 00:57:11,310 --> 00:57:23,070 | never going to have it happen. When you're doing that. You're going to be consistent at failing. Instead of aligning yourself with consistently developing |
| 254 | 00:57:23,100 --> 00:57:35,280 | into profitability. He can't reach profitability. If you're constantly feeding yourself negative self doubting thoughts, or highly critical thoughts of |
| 255 | 00:57:35,280 --> 00:57:46,920 | yourself, lacing it with you know, I'm such a screw up. I really blew it this time. I'm never going to get this. This is hard. And I thought this is too hard. |
| 256 | 00:57:47,190 --> 00:57:57,780 | Those types of things. Your brain is extremely powerful. It does so many computations all day long. You have no idea. But the average person, listen, |
| 257 | 00:57:57,780 --> 00:58:13,110 | folks, the average person every single day has at least 300 Negative thoughts. Don't believe me? Tomorrow when you wake up. Every time you think of something |
| 258 | 00:58:13,110 --> 00:58:30,900 | negative. Put a little checkmark on a piece of paper or send yourself a text message 1234 Pizza count like that. You'll be astonished how fast how fast you |
| 259 | 00:58:30,900 --> 00:58:39,720 | start mounting up having negative thoughts. I didn't believe it either. When I first heard it, and I learned it from Lucinda Bassett. She was one of the |
| 260 | 00:58:40,170 --> 00:58:50,010 | authors I read when I was dealing with high anxiety and agoraphobia, which is a fear of being around other people, which is all stemming from 911 garbage, |
| 261 | 00:58:50,310 --> 00:59:04,740 | listening to television. So I don't have a television that I watch. But these negative thoughts 300 of them a day. And you wonder why these antidepressant |
| 262 | 00:59:04,740 --> 00:59:19,140 | drugs are in style right now. Because you've not learned how to deal with everyday stress. You've not learned correctly how to learn to do things that are |
| 263 | 00:59:19,500 --> 00:59:30,660 | very demanding of us as humans. And you're doing something that is extremely difficult. No matter where you come from whatever walk of life, whatever |
| 264 | 00:59:30,660 --> 00:59:44,430 | culture, whatever race whatever sex you are doesn't matter. This is one of the hardest things that you as a human being will ever endeavor to do. Because it's |
| 265 | 00:59:44,430 --> 01:00:02,190 | so easy to psych yourself out. unconvinced that 80% of people that fail. They talk themselves into failure either subconsciously or blatantly. |
| 266 | 01:00:07,620 --> 01:00:17,670 | Think about what you've done to yourself as a trader, if you've traded with live funds, and you've blown that account or accounts, you can go right back to the |
| 267 | 01:00:17,670 --> 01:00:30,420 | moment where you knew you knew at that moment, right before you did it when you still had money in the account. The day that you did, like 2530, trades, over |
| 268 | 01:00:30,420 --> 01:00:41,760 | leveraging, trying to fix something, trying to just do whatever. At some point, it became like, you just wanted to end it all, because it was too painful. Just |
| 269 | 01:00:41,760 --> 01:00:49,500 | click until I don't have any more money left, I don't have the discipline to do it, right. I've already convinced myself that I'm never going to do this. So |
| 270 | 01:00:49,500 --> 01:01:00,570 | let's just blow the account be done with it. So subconsciously, what your mind tells your hand, there's something to do push the button. But the chart saying |
| 271 | 01:01:00,570 --> 01:01:12,120 | nothing about dealing anything at all. You're never going to see a book written like that. But that's the stuff that goes on for real. That's the very thing |
| 272 | 01:01:12,120 --> 01:01:25,680 | that's going on in the mind of someone that's blowing your account. Going into severe drawdown, their subconscious is manifesting themselves through that |
| 273 | 01:01:25,800 --> 01:01:34,680 | transaction or series of transactions, the subconscious already knows that you're failing. So it's doing what it's doing what you trained it to do, |
| 274 | 01:01:35,040 --> 01:01:38,160 | manifest what you've programmed it to expect from you. |
| 275 | 01:01:43,320 --> 01:02:00,390 | But when the money's gone, in the accounts blown. You have this sudden feeling of regret that you didn't have before you were pressing the button. You didn't |
| 276 | 01:02:00,390 --> 01:02:10,740 | have any regrets. You're going right in here, pressing and pressing and pressing and pressing because you had a task, you had a goal. And you hit it. Well done. |
| 277 | 01:02:12,960 --> 01:02:24,060 | What would have happened, if you would have conditioned yourself properly, encouraged yourself with positive self talk, constantly filtering out every |
| 278 | 01:02:24,060 --> 01:02:31,710 | negative thought and replacing it with something positive. Oh, I took a loss. It's okay, that one loss is going to hurt me. I'm going to stop trading today. |
| 279 | 01:02:31,710 --> 01:02:43,980 | Because I don't want to have any reason to compound that pain, and make it harder for me to come out of this drawdown, which is easy for right now. It's |
| 280 | 01:02:43,980 --> 01:02:54,150 | takes a lot to have that discipline to remind yourself, Oh, yes, something bad has happened? Well, you know what, I'm going to stop here. And before I lose |
| 281 | 01:02:54,150 --> 01:03:07,650 | control of myself, I'm going to exercise discipline, I'm going to do the right thing, which is follow the principles. convince myself that this is not the end |
| 282 | 01:03:07,650 --> 01:03:16,290 | of the world. And do it in a light that's positive. And and what's going to happen is the next time you go from the charts, you're not going to be fearful |
| 283 | 01:03:16,320 --> 01:03:26,070 | because that last trade that you just took a loss on, it wasn't that big of a deal. You start trading because you know that your discipline is required. And |
| 284 | 01:03:26,070 --> 01:03:35,100 | you did the right thing. You didn't make it worse, and you're not impatient. So you're not trying to rush to get it right back because you'd lost the trade. And |
| 285 | 01:03:35,100 --> 01:03:44,370 | that way, when you go into the next trade, what are you feeding off of the positive things that you've reinforced your subconscious with? None of that |
| 286 | 01:03:44,370 --> 01:03:54,480 | fear. None of that regret is manifesting in the next trade. You're going right back to why you're Why are you doing this. You want to make money. You want to |
| 287 | 01:03:54,480 --> 01:04:07,050 | live a better life, you want to have a secondary income, that income doesn't happen doesn't just fall in your lap. Because you told yourself you suck. That |
| 288 | 01:04:07,050 --> 01:04:21,480 | income isn't coming, because you told yourself you deserve more. And it's it's harder than you thought it's going to be though. How's that productive? But |
| 289 | 01:04:21,480 --> 01:04:35,910 | that's what you have to be aware of. Every day you're feeding your subconscious. the very reasons why you're either succeeding or you're failing. And it takes a |
| 290 | 01:04:35,910 --> 01:04:47,670 | lot of effort to constantly keep your mind focused on the positive things. In recent years, it's very hard to stay positive about anything. It's depressing |
| 291 | 01:04:47,670 --> 01:04:55,470 | when you look around and see what has been going on. But you have to you still have to grind in, prepare yourself mentally for this |
| 292 | 01:05:01,380 --> 01:05:10,080 | No one's gonna do it for you. No one's gonna sit down and tell you to do these things. I mean, I'm doing it now. Every time I have a Twitter space, I'm |
| 293 | 01:05:10,080 --> 01:05:23,670 | basically doing that. But it's a bit annoying. When I see students in Twitter, tweeting to me, or copying me in a tweet, where they're complaining with a |
| 294 | 01:05:23,670 --> 01:05:34,650 | negative tone, about their inability to do something by now, I should have been learning how to do this x months ago, but I'm still losing in my trades when |
| 295 | 01:05:34,650 --> 01:05:43,440 | you're not supposed to be trading. Don't get it, you know, listening. It's not going to magically happen for you, because you're pressing a button with a live |
| 296 | 01:05:43,440 --> 01:05:54,090 | candle when you don't have to trade. I mean, that's like one on one. Trading doesn't magically happen. Just because you're using real money. You have to be |
| 297 | 01:05:54,090 --> 01:06:09,810 | able to do this consistently. By reading the tape with no trades, put on on a demo from once, then do it consistently with paper trades or demo? Consistently, |
| 298 | 01:06:10,380 --> 01:06:23,070 | then, then you have a decision to make? Are you prepared? How will I know when I'm ready to go into life on ICT? How will I know? When you're bored to death? |
| 299 | 01:06:25,050 --> 01:06:40,710 | You go in every single day, and you can get your five handles, and it's easy for you to do it. Then, then you can entertain that thought. But not before if you |
| 300 | 01:06:40,710 --> 01:06:50,910 | are nervous, or have any anxiety, or do you get angry when you have a losing trade in a demo. If you're angry over that transaction, you're not ready to |
| 301 | 01:06:50,910 --> 01:07:02,520 | trade with iPhones, believe me, you're not. If you're overzealous about getting into a trade, even in a demo, like you're like you're so excited to push the |
| 302 | 01:07:02,520 --> 01:07:15,660 | button cuz you want to see it deliver like you want it to deliver. You're not ready to trade with iPhones. Because you have created a environment that is |
| 303 | 01:07:15,690 --> 01:07:28,110 | charged emotionally. It's either euphoria, or it's doom and gloom, it's the best or the worst. When it needs to be indifferent. You need to be able to look at |
| 304 | 01:07:28,110 --> 01:07:39,000 | these trades like a psychopath. There's no emotion. Like you're a serial killer. You're literally looking at these candles, knowing that the other side of that |
| 305 | 01:07:39,000 --> 01:07:57,480 | trade, someone's bleeding. And you don't care matters not to you. That's the reality of it. But what happens is, you have conditioned yourself to be a lamb. |
| 306 | 01:08:00,030 --> 01:08:13,110 | And you walk out there, all by yourself scared to death. And you press the button, you walk into the slaughterhouse and you're counting the seconds down |
| 307 | 01:08:13,140 --> 01:08:30,360 | until a lion devours you. And when it does, in your last moments of life in that trade before it stopped out, and you're in a loss you're squealing why this |
| 308 | 01:08:30,360 --> 01:08:46,980 | happened to me? Why am I being devoured? This shouldn't be happening to me. When you as the Lamb walking out there ill prepared. You have no defense. You have no |
| 309 | 01:08:46,980 --> 01:08:49,020 | defense against a lion. |
| 310 | 01:08:55,020 --> 01:09:08,310 | And you're wondering why that happens in your trading. Because you're ill equipped. You're going into a slaughterhouse every single time you enter these |
| 311 | 01:09:08,310 --> 01:09:21,780 | markets. I'm going in, you're going in and we're all going in it. But some of us are walking out of there the same way we went in, but we're taking a pound of |
| 312 | 01:09:21,780 --> 01:09:40,380 | flesh with us. We're not leaving a pound of flesh or more in there. We know our way in in our way out. We know when the lions are on the prowl and wanting to |
| 313 | 01:09:40,380 --> 01:09:55,230 | eat. We don't want to go in. But that's exactly what the retail traders want to do. Non Farm Payroll. It's got a lot of movement. That's where all the |
| 314 | 01:09:55,230 --> 01:10:07,050 | volatility is. That's what we got to do. And I'm really really well Working hard not to go off the rails. Twice nail always went there, give me go on the Crazy |
| 315 | 01:10:07,050 --> 01:10:11,040 | Train. Oh, the boats |
| 316 | 01:10:16,440 --> 01:10:28,530 | retail thinks about these high impact news drivers. And some of them are good. But some of them aren't. But this is where you want to treat and ICT says don't |
| 317 | 01:10:28,530 --> 01:10:33,360 | trade here, look at this trade. Look at my trades this week |
| 318 | 01:10:41,010 --> 01:10:53,700 | you have to know what you're doing, you have to know how to think. And you have to guard your mind. You can't just walk out there and expect whatever happens is |
| 319 | 01:10:53,700 --> 01:11:02,610 | going to be detrimental to me. And it's going to end me and you know, that's just, this is the way you guys just get your experience, I can just get beat up. |
| 320 | 01:11:02,970 --> 01:11:13,470 | Now that's not, that's not how it is. If you listen to me, you will have experiences where it doesn't pan out for you, that's fine, that's normal. But |
| 321 | 01:11:13,470 --> 01:11:22,440 | you'll have more experiences where it does pan out in your favor, which allows you to do what spend more time doing it without being frustrated to the point |
| 322 | 01:11:22,440 --> 01:11:34,650 | where you give up, which is what 90% of people do. That's what I tried to do as a mentor, placing your attention in the charts, at the moments that the things |
| 323 | 01:11:34,650 --> 01:11:44,790 | that I like personally, and I believe it's going to pan out. It allows you to see it there. Whereas you may not have noticed that are expected to happening. |
| 324 | 01:11:44,850 --> 01:11:52,530 | And it looks like oh, look at that move here. That would have been cool for me to see that coming. Well, now you have someone telling you when those things are |
| 325 | 01:11:52,530 --> 01:12:04,050 | happening. So that way you can go in, study it, observe it and see what it's doing when it does it. While you're doing that you are talking to yourself, like |
| 326 | 01:12:04,050 --> 01:12:15,240 | you saw that coming. So you're borrowing my experience, you're watching Real Time price action moves that are happening consistently day by day. And then |
| 327 | 01:12:15,240 --> 01:12:26,400 | you're telling yourself through your journal, in your own words. This is what I expected. You're talking to your subconscious by doing that. It feels weird. |
| 328 | 01:12:26,580 --> 01:12:41,460 | When you first start doing it. It feels like what am I doing? Just do it. I promise you just do it. If any of you ever meditated one of the things and |
| 329 | 01:12:41,460 --> 01:12:52,350 | functions that you do with your mind while you're meditating, is you're constantly giving yourself positive reassurance. There is no emergency. I'm home |
| 330 | 01:12:52,350 --> 01:13:04,140 | right now in my own body where I'm at right now, I'm in need of doing nothing and I'm in need of nothing. There is no emergency. I am comfortable. In my body |
| 331 | 01:13:04,140 --> 01:13:17,490 | right now I'm comfortable. In my present state right now my mind is at ease. I'm anxious for nothing. My body is strong, my body is healthy, my body is at rest. |
| 332 | 01:13:17,970 --> 01:13:28,860 | And this is peaceful to me. You go through a period in your day a couple times like that just go to a quiet place and maybe a place in your home, it work you |
| 333 | 01:13:28,860 --> 01:13:40,920 | may need to go to your car, we have breaks do that. It makes things a whole lot better. Instead of going out there and smoking your cigarettes, conditioning |
| 334 | 01:13:40,920 --> 01:13:50,250 | yourself mentally like that, and manage everything, you manage your blood sugar, your cortisol, your adrenaline, all those things, it's many times probably |
| 335 | 01:13:50,250 --> 01:14:01,200 | causing you to want to go out there and get a smoke break. And your health will improve your ability to maintain focus and manage the stress that everybody has |
| 336 | 01:14:01,200 --> 01:14:13,890 | every day. And some of you have never really felt stress yet until you start trading with live money. And it may not even be a lot of money. But the fact |
| 337 | 01:14:13,890 --> 01:14:28,950 | that you have money at risk. It's going to feel a lot more significant than it really is. I mean, let's let's be fair. If you lose two or 50 bucks, you're not |
| 338 | 01:14:28,950 --> 01:14:38,340 | going to end your life over 250 bucks. The world's not going to stop turning over 250 bucks, but it's 250 bucks. You know I have a lot of money if you know |
| 339 | 01:14:38,460 --> 01:14:49,350 | if I lost you on for the hours that fell out of my pocket, but man, I wish that didn't happen. I'm not going to starve over losing that 250 bucks. But I'm not |
| 340 | 01:14:49,350 --> 01:14:56,970 | going to sit there for a week and complain about I wish I wouldn't have put that money in that pocket because I want to reach in and grab something else out like |
| 341 | 01:14:56,970 --> 01:15:05,070 | my car keys and boom, the money fell out. I can Are you aware I probably dropped it. I'm not gonna spend two weeks complaining about it, and saying, Oh, I was |
| 342 | 01:15:05,070 --> 01:15:14,790 | stupid because of that. But that's what many of you are doing. In the beginning while trying to learn how to trade. You're taking everything that you're doing. |
| 343 | 01:15:16,020 --> 01:15:25,650 | And it's a scorecard. And you're never, ever being honest with yourself. Think about it, you're never giving yourself positive feedback about anything that |
| 344 | 01:15:25,650 --> 01:15:37,860 | you've done correctly, the only thing you're doing is honing in on what the thing you did wrong. And if you constantly keep telling yourself, try it with |
| 345 | 01:15:37,860 --> 01:15:47,700 | your spouse, gentleman, your wife comes through the door, ain't seen her for a little while she's going out with her friends or whatever. Tell her what she's |
| 346 | 01:15:47,700 --> 01:15:58,560 | wearing doesn't look good on her. Make sure you have your blanket in your pillow. Because you're sleeping on the couch tonight. But then tell her the nail |
| 347 | 01:15:58,560 --> 01:16:06,630 | polish she has on her hands, you don't like that either. How much of that is you're going to tolerate before she tells you about yourself? Probably what a |
| 348 | 01:16:06,630 --> 01:16:19,380 | rolling pin upside your head. It's like anything else, if you constantly feed negativity. And this is what you want to do also with who you're around who |
| 349 | 01:16:19,410 --> 01:16:31,440 | who's influencing you? Is it constant negative drama, that stuff is draining. It's draining for the people that do it. Who may think it's entertaining for |
| 350 | 01:16:31,440 --> 01:16:43,170 | them. But it's just, it's a lot of effort to do that kind of stuff. It's toxic. And if that's what you're around, and if that's how you operate as a human |
| 351 | 01:16:43,170 --> 01:16:54,870 | being, unless you have different coping mechanisms and skill sets, which is what I'm trying to coach you to do, using self talk that's positive. You're being |
| 352 | 01:16:54,870 --> 01:17:04,320 | your best cheerleader, you're guarding your mind. You'll be better equipped to do the things that's required as a trainer that way. In fact, you can use these |
| 353 | 01:17:04,320 --> 01:17:14,280 | skills in your average everyday life. Managing the stresses of work, managing the stresses of a marriage, or relationship, children parenting, if you're a |
| 354 | 01:17:14,280 --> 01:17:24,420 | single parent, which I was for a little while with my oldest son. It was the best time and it was the worst time I worried about whether I was ever going to |
| 355 | 01:17:24,450 --> 01:17:33,540 | find someone because I was a single parent. It's easy for a woman to find any some of the women out here might think, no, no, no, it's hard to find a good man |
| 356 | 01:17:33,570 --> 01:17:46,350 | when you're a single mom, that's not true. I've wanted to find a single mom, and I married one. And I'm happy. Now every man out there is a douche. But if you go |
| 357 | 01:17:46,350 --> 01:17:53,640 | into everyday life, thinking you're never gonna find the good man. You're guarding yourself from ever having the opportunity to fall into the reality and |
| 358 | 01:17:53,640 --> 01:18:03,360 | then you meet someone because you'll push them away because you're expecting everybody to be like that negative thing that you create in your mind. So we do |
| 359 | 01:18:03,360 --> 01:18:18,330 | these things every day as humans, but you can't do these things in trading in succeed. And not enough is talked about how to cope with it. In every |
| 360 | 01:18:18,330 --> 01:18:29,400 | psychological book out there, fall short on this. It doesn't really get to the heart of the matter. And while there are some good books out there, Mark |
| 361 | 01:18:29,400 --> 01:18:39,630 | Douglas, I think it's overrated, but it's good. The first few chapters of Alexander's book, trading for a living, in my opinion is better than Mark |
| 362 | 01:18:39,630 --> 01:18:51,030 | Douglass's book. Because it makes it practical. It takes you right in there, and shows you this is what it is. Versus someone that writes a book about trading |
| 363 | 01:18:51,270 --> 01:19:01,380 | psychology. The problem and reason why those psychology books never make an impression on the people that buy them is because it's talking about something |
| 364 | 01:19:01,380 --> 01:19:11,670 | they haven't learned how to do yet anyway, trading. I'm telling you, there's a step before that. You will never learn how to trade unless you master yourself. |
| 365 | 01:19:11,790 --> 01:19:24,660 | How do you give yourself a chance. You have to give yourself a chance. You have to be willing to put yourself through a process of removing negativity, |
| 366 | 01:19:24,690 --> 01:19:34,080 | filtering negativity, and rewarding yourself in with finding everything that you've ever done in your development, finding that silver lining in it because |
| 367 | 01:19:34,080 --> 01:19:49,560 | you have to cheerlead yourself. This is hard, it's very difficult. And the folks that master themselves keep these negative distractions from creeping in and |
| 368 | 01:19:49,560 --> 01:20:00,270 | derailing their progress. All it takes is one bad day. One bad day where you let your guard down. You're wrestling with something with your your relations. Ship, |
| 369 | 01:20:00,630 --> 01:20:14,850 | you're wrestling with something about your job, your finances. And then you go into trading. Thinking it's Rocky theme playing. There's a montage going on |
| 370 | 01:20:14,850 --> 01:20:28,290 | right now. You're playing in your your earbuds, every comeback song ever came across the the TV movies or whatever it is, and you're in it. You're the main |
| 371 | 01:20:28,290 --> 01:20:40,410 | character now. And you're going into the market to prove something. It's a vendetta. You're gonna go out there, and you're going to exact revenge on Carl. |
| 372 | 01:20:42,360 --> 01:20:54,810 | Carl's not on the other side of your trade. Carl's still at the desk at work, trying to get an employee at the month again. But you're in there trying to do |
| 373 | 01:20:54,810 --> 01:21:13,020 | something fantasizing. ill prepared going in with the wrong mindset. Expecting an experience to replace something that's going on in your personal life. Drama, |
| 374 | 01:21:13,800 --> 01:21:34,920 | heartache, loneliness, I broke this. And I'm promising you this. I'm promising you. If you trade like that, where you have to have a transaction that replaces |
| 375 | 01:21:35,070 --> 01:21:49,530 | anger, resentment. Someone broke up with you. A job fired you. Your children are doing things, you know, unruly, and they're making bad decisions and you can't |
| 376 | 01:21:49,890 --> 01:22:07,920 | do it because they're young adults. I've been there going through a divorce, you lost a loved one. Midlife, midlife crisis, I had one about a motorcycle and |
| 377 | 01:22:07,920 --> 01:22:23,580 | regretted it, I still regret it. But those things. I promise you, if you go in to any trade, in the real root cause for you pushing that button is any one of |
| 378 | 01:22:23,580 --> 01:22:45,000 | those things. You're doomed. You're doomed. You might get lucky. And you might win. But here's what's going to happen. As soon as you win 10 minutes, maybe 20. |
| 379 | 01:22:45,180 --> 01:22:56,310 | If it even last that long. It's not going to satisfy you, you're still going to have that heart ache that that woman that walked out on you that now you feel |
| 380 | 01:22:56,310 --> 01:23:05,310 | like you got to do like ICT thought he was going to do when he was 20 year old. I'm gonna win it back, I'm gonna make a lot of money. I'm gonna win her back |
| 381 | 01:23:05,310 --> 01:23:22,650 | with a lot of money. It doesn't work like that. I'll show my boss, I don't need him. I'm gonna go over leverage this account. Because I feel good. And if you |
| 382 | 01:23:22,650 --> 01:23:31,830 | win, as soon as you do it in the trade closes and profit, you're going to peacock around like I was doing today to my wife. When I say that I'm just |
| 383 | 01:23:31,860 --> 01:23:43,830 | walking around and gluten. She doesn't care. But today when you see these movements in the marketplace, that's not typical of non farm payrolls, I want to |
| 384 | 01:23:43,830 --> 01:23:56,010 | make sure you have that your notes. But when you have these moments where you go into the marketplace, yourself, and you win, under the context that you went in |
| 385 | 01:23:56,070 --> 01:24:09,330 | needing stimuli to make you feel significant to make you feel better to coddle you emotionally, to replace this emptiness, that the real world outside those |
| 386 | 01:24:09,330 --> 01:24:18,540 | candlesticks is putting on you to everybody else indoors too. But you're at a breaking point and you just need a release. You need to be able to feel good |
| 387 | 01:24:18,540 --> 01:24:33,990 | about something. And if it happens, and it works in your favor. That is going to be the shortest lived satisfaction ever. Because it can't compete with the |
| 388 | 01:24:33,990 --> 01:24:43,560 | things you're bringing into trading. How are you going to? How are you going to take that that winning trade that you overleveraged and I don't care if you make |
| 389 | 01:24:43,560 --> 01:25:00,630 | $20,000 that win is only going to feel good for so much time. And when it really hits you that you lost your life, you lost your husband and you're lonely If you |
| 390 | 01:25:00,630 --> 01:25:17,100 | lost a child, maybe it passed away. Maybe you had a miscarriage, we win there. We know that pain, it sucks. But that when it won't counter that level of ache |
| 391 | 01:25:18,420 --> 01:25:35,400 | so don't go into trading with that. You can't fix those things with joint your trades, winning trades don't fix those things. A process a model, sound risk |
| 392 | 01:25:35,400 --> 01:25:51,600 | management, impeccable money management. Those things deliver wins. And those wins need to be collected without any emotion. Okay. I mean, another $1,000 |
| 393 | 01:25:51,600 --> 01:26:08,580 | Today, okay. I mean, not 500 hours this trade, okay. I mean, 20,000 hours this month, okay. You're not getting excited. It is just simply your job. I mean, |
| 394 | 01:26:08,580 --> 01:26:17,850 | when you get your paycheck, maybe some of you got paid today. Did you open up the envelope? On the stuff that you got said your direct deposit says, this is a |
| 395 | 01:26:17,850 --> 01:26:28,410 | mess. money you got? Did you think that honey, look at that? Did you go around parading around your wife or husband? High five, your kids? Look at this. I got |
| 396 | 01:26:28,410 --> 01:26:37,230 | another one of those things I got last week. Look at this. Look at that right there. See what they gave me. I went there for 40 hours. They gave me that. Like |
| 397 | 01:26:37,230 --> 01:26:47,250 | it's something different. You're not parading around with that. It's not an accomplishment. It's just what you expect to do when you go to work. It's a |
| 398 | 01:26:47,250 --> 01:26:57,870 | participation award, right? Well, every one of your trades, you win needs to be simply that it's a participation award. You it was expected this is what you |
| 399 | 01:26:57,870 --> 01:27:11,610 | expect to happen. You're not surprised. It's just the way it is. Okay, you don't want to emotionally charged it. It's not a big deal. It's nothing to be afraid |
| 400 | 01:27:11,610 --> 01:27:22,050 | of. It's nothing to really celebrate. You celebrate at the end of the year. You celebrate at the end of the year. This is how much I get to have to pay taxes |
| 401 | 01:27:22,050 --> 01:27:38,070 | on. I love it. That's it, that's the way it works. You do not champion a winning trade. And you don't regret and just go into depression over a losing trade. |
| 402 | 01:27:40,980 --> 01:27:52,620 | You're indifferent. It it's just business. It's the holidays, it's just business. You showing up to your job at your regularly scheduled time. For the |
| 403 | 01:27:52,620 --> 01:28:01,110 | time you're supposed to punch in to the time you go home and punch out. It's just business. That's the relationship you have. The ball says you show up at |
| 404 | 01:28:01,110 --> 01:28:13,740 | this time, be here this time and go home at this time. If you do that, you get a monetary reward at the end of the week. Okay, same process with trading. The |
| 405 | 01:28:13,740 --> 01:28:23,820 | process is I have to do this I have to show up in front of my charts. I got to do the process of looking through these charts, looking for the thing I'm |
| 406 | 01:28:23,820 --> 01:28:37,920 | supposed to be doing as the trader then when the time has come, I'm expected to do something with that opportunity. And I have to do what manage risk. You're |
| 407 | 01:28:37,920 --> 01:28:44,490 | doing your job. You're managing your personal risk when you drive there, because you don't know if you're gonna get there safely or not. But you're doing |
| 408 | 01:28:44,490 --> 01:28:55,620 | everything you can hopefully not looking at your phone, texting and whatnot. But once you're at your job, then you're managing the risk of what your employer you |
| 409 | 01:28:55,620 --> 01:29:09,600 | don't want to waste supplies. You don't want to waste time watching ICT videos on the clock. Liar. Everything you're doing is managing risk. Are you a good |
| 410 | 01:29:09,600 --> 01:29:22,560 | risk manager? Do you speed to work? Are you driving without your seatbelt on? Are you texting speeding without your seatbelt on? That's not a good manager of |
| 411 | 01:29:22,560 --> 01:29:40,830 | risk. You're going to blow your account these are all things that you need to be aware of. Because that's exactly what you're bringing to trading that's exactly |
| 412 | 01:29:40,950 --> 01:29:58,470 | what next year when everybody's having a hard time and that calling of the ill informed Street Money traders they're gonna be cast out like lepers. This market |
| 413 | 01:29:58,470 --> 01:30:10,080 | is going to be harsh to them. But it's not going to be harsh to you. Because you're learning, you're being forged in the fires of difficult trading |
| 414 | 01:30:10,110 --> 01:30:26,760 | environments right now, these are hard markets, and you're being forged in these fires. You're being prepared. Your steel is being forged in this. You're being |
| 415 | 01:30:26,790 --> 01:30:32,010 | battle ready, you're being battle prepared. |
| 416 | 01:30:34,410 --> 01:30:43,590 | You're getting all of your armor right now. And you're learning how to use your weapons. In a safe environment where nothing can happen to you right now, |
| 417 | 01:30:43,620 --> 01:30:59,220 | nothing can hurt you. It's all upside, it's all advantageous. It's not any weaknesses. This is proper training. This is the right way to do it. And when it |
| 418 | 01:30:59,220 --> 01:31:09,180 | comes time for you to be involved in actual trading, whether it be through a funded account, or live trading, you will be at the highest point of readiness, |
| 419 | 01:31:10,020 --> 01:31:23,970 | any trader would be reasonably expected to have. Because it all changes when there's real money involved. That's the part that I can't, I can't take you to |
| 420 | 01:31:23,970 --> 01:31:32,100 | that, everybody's going to experience that on a different level. That might be extremely stressful for you, and others to be like this is way easier than I |
| 421 | 01:31:32,100 --> 01:31:47,670 | thought it wasn't as fun. But some of you will be thinking, I'm terrified, I can't afford to lose. And you'll have new learning to go through. But you'll at |
| 422 | 01:31:47,670 --> 01:31:56,940 | least be trained properly, before you get to that point, which is important. books and courses don't take you there. Because it takes time. And they don't |
| 423 | 01:31:57,390 --> 01:32:03,090 | want to lose the subscription fees. The membership fees. |
| 424 | 01:32:08,580 --> 01:32:15,330 | I told you coming in this year, you're gonna have to work, it's going to take longer than you thought, you're going to do a lot of things that you don't feel |
| 425 | 01:32:15,330 --> 01:32:23,280 | comfortable doing. But you're going to be doing that the rest of your life as a trader anyway. So you might as well warm up to the idea that testing studying |
| 426 | 01:32:23,280 --> 01:32:36,420 | charts, looking at charts, before a trade conform, what are you doing, looking at charts you have to look at them, right? You have to see, you must get used to |
| 427 | 01:32:36,420 --> 01:32:47,730 | the idea of doing it and enjoying it. And that's what tape reading is doing for some of you, it's wonderful to see the comments that somebody's like, I love |
| 428 | 01:32:47,730 --> 01:32:56,400 | this, like this makes so much more sense to me. Now, I didn't know what I was looking for. And now I don't have any fear of losing. And I'm learning. I don't |
| 429 | 01:32:56,400 --> 01:33:05,700 | get all excited about having to make a winning trade. I'm just studying price, and I'm learning so much. Hallelujah. Thank you, Jesus, because that's exactly |
| 430 | 01:33:05,700 --> 01:33:16,140 | what you're supposed to be feeling right now. You're replacing that desire to make money right now when you're not prepared to make money. So it's unrealistic |
| 431 | 01:33:16,140 --> 01:33:26,220 | for you to try to make money when you don't know how to make money. I'm sparing you all that frustration in allowing your mind and understanding to develop |
| 432 | 01:33:26,220 --> 01:33:40,350 | properly with the proper amount of time. And you'll be much more appreciated next year when I'm not doing this anymore, and you'll have all this experience |
| 433 | 01:33:40,350 --> 01:33:52,560 | the leaner and everybody that's never went through this type of conditioning, trading in the environments that we're going to go into 2024. Yeah, it's going |
| 434 | 01:33:52,560 --> 01:34:02,370 | to be a nightmare for them. But you're going to already be prepared. You're desensitized by then you know that there's opportunities every day, every week, |
| 435 | 01:34:03,090 --> 01:34:10,410 | you know, when it's likely to hurt you, when everybody else is being told to rush in there and trade. This is when the markets are moving around. Yeah, |
| 436 | 01:34:10,410 --> 01:34:20,070 | they're moving around with the intent to take you out. So why would why would you want to go in there. There's other days where you can trade with probability |
| 437 | 01:34:20,070 --> 01:34:35,850 | is more in line with you as a trader succeeding in it not? Well, it's casino time. I got time to do it. Let's go push the button. And I'm so pleased to see |
| 438 | 01:34:36,570 --> 01:34:47,370 | this paradigm shift that's happened just in the first month. I was concerned that I wouldn't see enough of it. I mean, obviously it's not all the same. But |
| 439 | 01:34:48,750 --> 01:35:01,320 | as we get further into it, in this year, you'll see that there's a lot of progress that you don't understand that you have gained In this week, I've |
| 440 | 01:35:01,620 --> 01:35:15,150 | provided you a homework assignment. I purposely told you to draw your account down. And then come back up before the close of this week, in a week, that is |
| 441 | 01:35:15,180 --> 01:35:23,280 | already hard. Now, admittedly, we had some really good price runs on Thursday and Friday, which were too good for me to pass. And that's why I showed you |
| 442 | 01:35:23,340 --> 01:35:30,450 | examples with it. And I hope I'm not encouraging you to want to trade those days, because it's like that this week. It's not like that every time there's |
| 443 | 01:35:30,450 --> 01:35:38,610 | non farm payrolls, sometimes it's just ugly, it just goes nowhere chops around and doesn't do anything. So if you have that in your mind, as that's the usual |
| 444 | 01:35:39,480 --> 01:35:49,650 | menu, or Non Farm Payroll, then you won't be until enticed to trade it and hurt yourself. Because you can do damage. And then think about it's at the beginning |
| 445 | 01:35:49,650 --> 01:35:56,700 | of the month. So now what are you gonna do, you're gonna start the month in drawdown. Now, you got to spend the first week and a half, getting out of |
| 446 | 01:35:56,700 --> 01:36:05,460 | drawdown. And then you're really worried about going back into drawdown in the third week of trading, which is going to be bringing you what mental baggage. |
| 447 | 01:36:06,810 --> 01:36:16,560 | What if thinking, that could have always been avoided by simply not trading on for over a week, on Thursday and Friday, it's simple. It's simple. But you want |
| 448 | 01:36:16,560 --> 01:36:26,280 | to do something that everybody is saying that they should be doing, getting in on the days that moves around? Well, there's a lot of movement on FOMC Are you |
| 449 | 01:36:26,280 --> 01:36:36,480 | able to get in before the rate announcement come out about the CPI number. There's a lot of movement there, too. It's funny that ideas don't apply to them. |
| 450 | 01:36:38,250 --> 01:36:52,710 | But it's the same thing with Non Farm Payroll. It's not worth it's not for professionals. NFP, not for professionals. But you witnessed this week, a level |
| 451 | 01:36:52,740 --> 01:37:09,900 | of precision, continuity, consistency, visibility, all during a time when the market is predominantly unfavorable on Thursdays and Fridays have nonfarm prayer |
| 452 | 01:37:09,900 --> 01:37:27,840 | week. And that should be an encouragement to you. For a new student, it's probably hard to appreciate where you're at and what you're learning. Because |
| 453 | 01:37:27,840 --> 01:37:40,650 | you don't have a reference point to say, this is the other alternative. And for someone that has gone through other styles of trading, maybe tried different |
| 454 | 01:37:40,650 --> 01:37:51,420 | approaches to trading. And now they're doing this. It's rewarding to me as a mentor reading their comments and saying, I've been doing this, I've been doing |
| 455 | 01:37:51,420 --> 01:38:01,770 | this, none of this ever worked or made sense. To me, this makes perfect sense. That's exactly what I'm aiming for. That's exactly what I'm aiming for. Because |
| 456 | 01:38:01,770 --> 01:38:10,680 | there are different ways to skin a cat and make money trading, yes. But those disciplines don't get to the root cause of why price is going, where it's going, |
| 457 | 01:38:10,680 --> 01:38:22,740 | when it's going to go there and why it should. That's, that's what I try to deliver as an educator. When I'm looking at price, I'm internalizing a whole lot |
| 458 | 01:38:22,740 --> 01:38:31,860 | of things that create a narrative. Why is he going to go up there? Why should that candle not be broken in the process of going up there? We should be |
| 459 | 01:38:31,860 --> 01:38:42,180 | reasonable in terms of retracements, but no further than this? See, that's logic. That stuff you don't you don't have that in their traditional analysis. |
| 460 | 01:38:42,780 --> 01:38:59,940 | Trust me, I would tell you if it was, would save me a lot of time talking to here, you just do this and be done. But it's been one month. And we have been |
| 461 | 01:39:00,210 --> 01:39:10,230 | watching live price action. I've called out specific things that I haven't taught before. And you watch them deliver in price real time with a one minute |
| 462 | 01:39:10,230 --> 01:39:25,200 | chart. Precisely. I'm not in edge. You can hear me when I'm talking about it live when it's happening. I'm not surprised. I'm not hopeful. Scared. It's this |
| 463 | 01:39:25,200 --> 01:39:36,420 | is what I'm looking for. This is what an algorithm should be doing at this time. Right now I'm doing this. My focus is on the expectation of what I know is being |
| 464 | 01:39:36,420 --> 01:39:49,470 | driven by code. I'm not worrying about wrong or right. I'm telling you, at this moment in this instance right now with what the chart has shown right here. This |
| 465 | 01:39:49,470 --> 01:40:02,220 | is what we expect to see in May and is it satisfying to see people say what, that just happened. Exactly, exactly. That's, that's where my satisfaction comes |
| 466 | 01:40:02,220 --> 01:40:13,350 | from. I'm not looking at the charts and saying, Wow, it still works. That doesn't happen. What I get my high off of is you all experiencing because I |
| 467 | 01:40:13,350 --> 01:40:24,570 | remember exactly what it felt like. And I live vicariously through all of my students, new discoveries, seeing something that I've grown bored of seeing |
| 468 | 01:40:26,730 --> 01:40:39,210 | in that moment of astonishment where the veils pulled back, and you finally see what this market really is, and you all watch it in your charts, real time, I |
| 469 | 01:40:39,240 --> 01:40:49,020 | often many times think to myself, that's when I'm usually putting a little smiley face, tweet out, because I know you're looking at the chart, probably |
| 470 | 01:40:49,020 --> 01:40:59,310 | with your corners of your mouth turned up to and a smirk or a smile, because, dammit, it happened again. There it is, it just happened again, it's not random, |
| 471 | 01:40:59,340 --> 01:41:08,610 | right? And that's exactly like I'm in the room with you. Like, I'm watching that chart, just like you are in the same thing that you're experiencing. And you're |
| 472 | 01:41:08,610 --> 01:41:20,910 | smiling, ticking. Man, this is not random. This is predictable things that I can see. He's he taught this, he pointed this very thing out, and it's going right |
| 473 | 01:41:20,910 --> 01:41:33,030 | there. And as soon as it does already have a well written tweet, with a, an image that's already pre selected. All I'm doing is waiting for time in price to |
| 474 | 01:41:33,030 --> 01:41:42,930 | meet. I don't have the time to type all that stuff out. Right when it hits there. I'm doing it in advance. Because I know what's about to happen. It's what |
| 475 | 01:41:42,930 --> 01:41:52,170 | I've told you, it's gonna happen. And then as soon as it happens, this week hits. And I do that because I want you to read that. And some of you read it as |
| 476 | 01:41:52,380 --> 01:42:03,360 | bragging or arrogance. No, I'm telling you, for the students, that that is a monumental experience for you to remember. It makes it meaningful. Otherwise, it |
| 477 | 01:42:03,360 --> 01:42:14,100 | just looks like so what? Yeah, the market went to that level there. And you didn't notice the tweet outline why it should? I'm not interested that in that |
| 478 | 01:42:14,100 --> 01:42:24,390 | person. That's not my audience. My audience is the folks that are looking at my tweets actively engaging their own charts, going to that specific candle and |
| 479 | 01:42:24,390 --> 01:42:31,470 | saying, okay, he said, this moment, now I'm watching it, how does it behave? And then what is he saying we're looking for buy side or sell side that gives you |
| 480 | 01:42:31,470 --> 01:42:46,080 | what bias. So when it starts gravitating towards it, I'm typing up a tweet, this is 387, booked, in some kind of emoji didn't make everybody laugh or smile or |
| 481 | 01:42:46,080 --> 01:43:00,210 | whatever. And it's just my way of just putting a bullet point, a little pin, in your memory about that was an experience that you watched, unfold live, you knew |
| 482 | 01:43:00,210 --> 01:43:09,630 | it was happening beforehand, you watched it deliver in now you have a memory of it, it's meaningful, it's impactful. And then you're going to be more inclined |
| 483 | 01:43:09,630 --> 01:43:19,890 | to do what journalists and then you put it in your own words, whereas you watch me outline it, I can tell you in the tweet to say, okay, screenshot your chart |
| 484 | 01:43:19,890 --> 01:43:31,800 | right here, label it with whatever. How many of you are dealing it, I would venture to say it's probably a good number of you that aren't dealing and you're |
| 485 | 01:43:31,830 --> 01:43:42,900 | missing the opportunity to grow, to learn how to do this independently, because you're going to basically be mimicking what I do. That's the only copycat stuff |
| 486 | 01:43:42,900 --> 01:43:56,520 | that I think is worthwhile, not copy every model that I try to trade with. I'm gonna country with all of them, but I have ones that I favor over others. This |
| 487 | 01:43:56,520 --> 01:44:05,130 | is my personal preference. It doesn't mean that the other ones are not as good. It just means I like these specific ones. And what is that it's a second stage |
| 488 | 01:44:05,130 --> 01:44:16,950 | distribution in a cell model, and its second stage accumulation, or re accumulation in a bimodal. There, my unicorn setups are just my eye is |
| 489 | 01:44:16,950 --> 01:44:29,010 | constantly seeking that. But if you put me in front of a chart, give me at least five minutes and I'll find my setup. It may require me to be on a second chart, |
| 490 | 01:44:29,580 --> 01:44:41,970 | but I'll find a setup. That's what I was doing this week. I was going to be doing lots of trades, doing everything up and down. And you shouldn't feel like |
| 491 | 01:44:41,970 --> 01:44:52,710 | that's something that you need to do to be good. Being good is not what you're doing here. You're being consistent, eventually working towards profitability |
| 492 | 01:44:52,710 --> 01:45:04,350 | that's consistently profitable. That's your goal here. And your first rung objective is five handles. Five handles in the ES. We've already narrowed your |
| 493 | 01:45:04,350 --> 01:45:15,090 | focus down to one market, even if you're kicking and screaming, saying I don't want to do ES. I don't want to trade that. I want to trade euro dollar. Okay, |
| 494 | 01:45:15,660 --> 01:45:28,950 | what did Euro dollar do today? Took a long time before I got started, didn't it? That's why I'm not there. Yes, forex pairs are moving around. But not like the |
| 495 | 01:45:28,950 --> 01:45:41,160 | US is not like the NASDAQ is. And it's gonna stay moving around. I think this summer, we're going to have a very busy summer. Whereas usually it's lethargic |
| 496 | 01:45:41,160 --> 01:45:52,350 | and just doldrums. I don't think we're going to have that this year, I think we're going to have a wild, wild price action summer. And I'm here for it. And |
| 497 | 01:45:52,350 --> 01:46:02,100 | I'm hoping that when we do our second baseline, which was what I gave me this week here trying to recoup the drawdown, if you failed to get back to 150,000 on |
| 498 | 01:46:02,100 --> 01:46:11,970 | your paper trading account. Don't be discouraged by that you now have a baseline. This is what you understood. Right now, this week, this is what you |
| 499 | 01:46:11,970 --> 01:46:22,470 | were able to do in this week. months from now, about halfway through between when we started in February and November, I'll tell you, we're going to do |
| 500 | 01:46:22,470 --> 01:46:30,420 | another week of that it's a second baseline, I'm going to tell you drop your account name down $3,000 and then spend the rest of the week trying to get it |
| 501 | 01:46:30,420 --> 01:46:40,500 | back, you're going to see even if you fail the second time, it's still going to be a lot easier than it was this time. And then when I do in November, you're |
| 502 | 01:46:40,590 --> 01:46:50,160 | you're gonna probably ace it. And then that's a wonderful skill set to have. Because you're gonna lose, you're going to have losing trades, your your account |
| 503 | 01:46:50,160 --> 01:47:00,390 | is going to experience drawdown, it happens to the best of us. You can't avoid that. Okay, you can't, if you're pressing the button and you're trading, it's |
| 504 | 01:47:00,390 --> 01:47:10,650 | going to come how you deal with that as a losing trader, in that one transaction or series of transactions. That determines how you're going to spend your |
| 505 | 01:47:10,650 --> 01:47:24,090 | career, whether it be in longevity, or it's going to be short and abrupt. And for whatever reason. Most traders are not interested in these topics. But this |
| 506 | 01:47:24,090 --> 01:47:35,370 | is the stuff that you need to know. Because you can't survive in this industry without knowing it. You have to have your mindset correctly aligned with what it |
| 507 | 01:47:35,370 --> 01:47:47,550 | is you're doing. And avoiding things that are going to invite your failure and it comes with boring discussions and uncomfortable discussions. This would be |
| 508 | 01:47:47,550 --> 01:48:03,930 | better spent. If you told us how to pick the right Vega tell me how to use the event horizon pdra some of your talking like you know what it is already? You |
| 509 | 01:48:03,930 --> 01:48:16,890 | don't even know what it is. I appreciate and love your enthusiasm, but you need to dial it back. You have no idea what you're doing. Nobody knows what an event |
| 510 | 01:48:16,890 --> 01:48:25,920 | horizon pdra is. Nobody does. I haven't taught it. Okay. Nobody knows what it is. Nobody in my private mentorship knows what it is they're all waiting just |
| 511 | 01:48:25,920 --> 01:48:38,250 | like you are. Withdrawal after posting Charlson like you've like you see it don't do that. Be genuine if you don't know what it is, he had no business |
| 512 | 01:48:38,250 --> 01:48:56,910 | referring to it in your chart. It's disingenuous when you don't think I know it, you don't know. I haven't done it yet. So anyway, I had a lot of fun this week. |
| 513 | 01:48:57,270 --> 01:49:09,570 | I had a lot of fun. I thought that we had a very productive week. And it looks like things are heating up in the markets are really moving really good. So |
| 514 | 01:49:12,240 --> 01:49:26,460 | usually in the springtime April in May, the market tends to create some type of a topping formation and it starts to drift down into the summer months and then |
| 515 | 01:49:26,460 --> 01:49:45,960 | to a low of the fall. This recent dropped this week. Once we went up into that daily chart Sibi for ES this was a little bit more energetic. I think the words |
| 516 | 01:49:45,990 --> 01:50:07,410 | appropriate for that here. And we're in March. So we might be in store for well It could be a lot of things. But based on what I'm seeing in the charts right |
| 517 | 01:50:07,410 --> 01:50:20,490 | now, so a lot of folks out there, a lot of the old dinosaurs, older than me, that do some really archaic, retail stuff in their analysis and whatnot. Some of |
| 518 | 01:50:20,490 --> 01:50:25,320 | them are saying that we're just going to go sideways for a long, long time. |
| 519 | 01:50:27,450 --> 01:50:37,830 | And I don't see that. Like, I don't see that at all. I think that's an easy cop out for just not knowing where it's gonna go. So this is saying it's gonna go |
| 520 | 01:50:37,830 --> 01:50:47,850 | sideways. And no matter what it does, as long as it's not crashing, or going parabolic to the upside, they can keep drawing the range, it's just wider and |
| 521 | 01:50:47,850 --> 01:50:58,230 | say, look, it's in consolidation. I'm gonna tell you what I think, okay, and I'm gonna tell you the reasons why. And then I'm gonna close this and go have my two |
| 522 | 01:50:58,230 --> 01:51:15,930 | scoops of ice cream, Haagen Dazs. And then the cowboy. So obviously, there's a lot of things going on in the world with Taiwan, China, going on with Ukraine, |
| 523 | 01:51:17,130 --> 01:51:30,720 | and a lot of just saber rattling. There's, you know, a major financial institution that just got shut down today. happened on Friday, like I said, |
| 524 | 01:51:30,720 --> 01:51:41,460 | it's, that's the motive. You know, that they fall all the time. They just, that's just the way they do things. I believe that we're going to see a lot of |
| 525 | 01:51:41,490 --> 01:51:52,170 | turmoil. Globally, not just in one contracting is going to happen everywhere. And that's going to accelerate things. We have central bank, digital currencies |
| 526 | 01:51:52,170 --> 01:52:05,940 | coming. And my opinion, and I've said this to you last summer, when I was doing Twitter spaces that needed to prepare, because in the next 18 months, and you |
| 527 | 01:52:05,940 --> 01:52:26,160 | know, we're halfway there. There's going to be a upheaval, some kind of jarring event, some kind of thing that's extremely uncomfortable for everyone. Me too. |
| 528 | 01:52:26,460 --> 01:52:36,090 | Just because I have money doesn't make me exempt. It's going to be unsettling for all of us. I don't know what that is, folks are like, I don't know, if I |
| 529 | 01:52:36,090 --> 01:52:51,420 | knew I swear to God, I'd tell you, I would tell you, I just know it's coming. And that abrupt catalyst that forces us to just almost beg for a central bank |
| 530 | 01:52:51,420 --> 01:53:04,410 | digital currency, because nobody really wants it. Everybody that understands really what it is, they don't want it. You won't have any privacy. You'll have |
| 531 | 01:53:04,410 --> 01:53:18,240 | control placed on you with how you spend your money. Your freedom is gone with your finances. And then once they have that they have absolutely control every |
| 532 | 01:53:18,300 --> 01:53:30,510 | bit of control over us as a society, which is the intent, I'm not going to do this or that, oh, you aren't. Here, you push a button. You can't touch your |
| 533 | 01:53:30,510 --> 01:53:47,760 | money, your direct deposit will go in that you can't spend any more than this much. capital controls, that's what's coming. You can't live a free life when |
| 534 | 01:53:47,760 --> 01:54:08,070 | you're under that kind of oppression. And nobody really wants it. So the way you get everybody wanting it is create a reason that this is the only solution. That |
| 535 | 01:54:08,070 --> 01:54:18,780 | makes sense. So and people will be begging for it. cheering for it. Yeah, give it to us, you know, bail us out, give it give it this, this is the way to fix |
| 536 | 01:54:18,780 --> 01:54:18,960 | it. |
| 537 | 01:54:24,450 --> 01:54:39,450 | And once it happens the way we do business, the way we bank. The way we spend money or have the ability to spend money will forever change. And I understand |
| 538 | 01:54:39,480 --> 01:54:54,660 | you could argue and say well it's already digital. Not like this. Like I can go out and take a wad of cash and buy groceries right now. I can go buy clothing, I |
| 539 | 01:54:54,660 --> 01:55:07,200 | can buy medicine. I can buy a firearm. I can buy ammunition I could buy car parts can go by car cashed with real bills, instead of writing checks like I do, |
| 540 | 01:55:07,950 --> 01:55:19,470 | it still spends the same right now, but it won't eventually. And those things you don't think about it right now, because it's not something you need to |
| 541 | 01:55:19,470 --> 01:55:40,800 | concern yourself with in your mind. But everything is speeding very, very fast to every Central Bank, putting in place, their digital currency. I think |
| 542 | 01:55:40,800 --> 01:55:55,350 | personally, there's going to be an event in the banks, it's going to be some kind of glitch, some kind of hack, some kind of Mo, they've already got |
| 543 | 01:55:55,350 --> 01:56:11,970 | something started today, a major bank failing, being taken over by the FDIC or whatever. And now, bank runs are in discussion, a bank runs where depositors, |
| 544 | 01:56:12,210 --> 01:56:25,740 | people like your nine to have a bank account with that bank. All are trying to get our money out of the bank. They don't like that. They don't want that. There |
| 545 | 01:56:25,740 --> 01:56:39,000 | isn't enough money in the banks. If we all went there to ask for it. Go to the bank and ask them for $35,000. I mean, you have to have it. Obviously, you |
| 546 | 01:56:39,000 --> 01:56:48,510 | can't. It's like bank robbery. You mean $35,000? You haven't no deposit? No, I just want 35,000. Okay, hold on real quick. There's a cop coming. But if you |
| 547 | 01:56:48,510 --> 01:57:04,410 | have $35,000 in the bank, go into a bank and ask for it. Look at them squirm in start looking around, like you just asked for something they don't have. Because |
| 548 | 01:57:04,410 --> 01:57:16,590 | they don't. You have to order that. It can take up to a week for that money to come there. Now that they have money, because they have cash on hand for people |
| 549 | 01:57:16,590 --> 01:57:27,330 | to do business with cash still, and some people still have their checks cashed or whatever, but they don't have that kind of cash. And I have had many |
| 550 | 01:57:27,360 --> 01:57:43,590 | instances where I've gone in and asked for cash. And they literally said, we can't do it. We can give you 5000? No, I asked for $25,000. We don't have it on |
| 551 | 01:57:43,590 --> 01:57:52,920 | hand. What are you talking about? You don't have 20, but you're a bank, you should have 25,000. Now we don't maybe if I call around that the other branches, |
| 552 | 01:57:53,220 --> 01:58:02,910 | you can probably go around and pick up a couple 1000 Here. What did Jesus say to me? They literally tried to do that. And that opened my eyes. And I was thinking |
| 553 | 01:58:02,910 --> 01:58:15,720 | myself Wow. This is kind of unnerving, really to think about it. Like it's not even a lot of money. And they don't want that kind of money being withdrawn. |
| 554 | 01:58:17,670 --> 01:58:32,490 | They want your money in their hands. capital controls. That's what's coming. Trust me, that's going to be circulating around. Those are the words those |
| 555 | 01:58:32,490 --> 01:58:43,800 | buzzwords, you're gonna be hearing that. You can't take any more money than this out. Have you noticed your bank withdrawal at the Tim's have been reduced? |
| 556 | 01:58:43,800 --> 01:59:00,930 | Because mine were and I never authorized it. I used to take out $1,500 Every bank account I have I could take out $1,500 Now 700 bucks. On other accounts |
| 557 | 01:59:01,740 --> 01:59:19,500 | 500. Nope, this ATM won't let you get more than $500. What? It's my money. Well, you can always go in there and ask the teller for if it's reasonable. It's my |
| 558 | 01:59:19,500 --> 01:59:36,420 | money. They don't want you to get the cash out. And right now, watch over the weekend. I might not be correct in this. But you're going to hear the terms bank |
| 559 | 01:59:36,420 --> 01:59:48,000 | run capital controls, those words are going to start buzzing. And people are going to get real nervous and they're gonna be thinking oh, now I gotta get to |
| 560 | 01:59:48,000 --> 01:59:58,440 | the bank. And this is the reason why they do it on a Friday because you have a half a banking business day on Saturday. That's it. Not everybody can go to the |
| 561 | 01:59:58,440 --> 02:00:08,580 | bank. And a lot of people are just gonna be like, Oh, I'm watching the news. It's party time. It's Friday night, girl night money. And Saturday, they're |
| 562 | 02:00:08,610 --> 02:00:22,770 | hungover. They're sleeping in until noon, when the banks will close. And when they wake up, it's too late for him to go to the bank and get anything. But it's |
| 563 | 02:00:22,800 --> 02:00:36,060 | always on the weekend, they always do things on the weekend. They set up things that get people all twisted up and divided. So we're fighting each other on the |
| 564 | 02:00:36,060 --> 02:00:44,610 | weekend, because you have time to be out there causing all kinds of drama. And whenever you mess around with the financial stuff, it's the same way on Friday. |
| 565 | 02:00:47,280 --> 02:00:57,420 | The bank doors are closed. And then anytime they want to say it's a bank holiday, it's done. We're not opening back up, we're on holiday, meaning you're |
| 566 | 02:00:57,420 --> 02:01:11,490 | Sol. capital controls. Ask anybody that lived in Greece, they'll tell you all about it. They had money in the bank. But they couldn't take any more than this |
| 567 | 02:01:11,490 --> 02:01:35,550 | number of euros out per day. That's what's coming. That is what's coming. It's very convenient that we have all these proxy wars, going on. Talks about war. So |
| 568 | 02:01:35,550 --> 02:01:49,440 | we have all these perfect scenarios to justify how the glitch, the hack that takes place, the banks collapse because there was a glitch or a hack. Well, the |
| 569 | 02:01:49,440 --> 02:02:01,170 | only way we can protect everybody now is we got to put everybody on a central bank digital currency. And so many people will eat that up they can it make |
| 570 | 02:02:01,170 --> 02:02:17,160 | sense. It's a digital currency. Right now, all of my money that's not in cash is in the digital format. It's a number in banks. |
| 571 | 02:02:22,830 --> 02:02:40,470 | But they're going to tell you, it's better for it to be in the central bank digital currency. It's safer. Well, thank you for looking out for me. Tell |
| 572 | 02:02:43,470 --> 02:02:56,970 | something to be watchful for. You can't stop it. There's no sense of worrying about it. But it's going to change everything. There's going to be folks that |
| 573 | 02:02:57,420 --> 02:03:17,340 | say, oh, it's not gonna do anything, it's not gonna be bad. Watch, watch and see. But you'll have a skill set, as long as we have access to these markets. To |
| 574 | 02:03:17,340 --> 02:03:33,570 | make another stream of income. In the income can be wherever your skill set takes it. For something new, it's just a little bit more a month. In for others. |
| 575 | 02:03:33,600 --> 02:03:48,480 | It's Lux lifestyle. No matter what decision you make and what direction you go in, I'm actually very interested to see what your story is, if you're willing to |
| 576 | 02:03:48,480 --> 02:04:01,020 | share it with me, which is the currency here. I did our first interview tonight, but Poulton. I enjoy talking to him. And I have another gentleman that I'm gonna |
| 577 | 02:04:01,020 --> 02:04:15,240 | be interviewing on Tuesday. So I'll have another one on Tuesday night. So we might do. We might do two week if I can find a way to get in there. But at least |
| 578 | 02:04:15,240 --> 02:04:24,450 | one per week. I have so many of them. If you email me just know if I haven't responded to you or anything. I have a lot of you. And I'm doing it in the order |
| 579 | 02:04:24,450 --> 02:04:32,100 | I received on the so that way. I'm not cherry picking anybody I've literally, Paladin was the first one. And the gentleman I'm going to be talking to on |
| 580 | 02:04:32,100 --> 02:04:41,730 | Tuesday. He's a second one. And the folks that are right behind him. They'll get an email just like they did. And it's just basically saying, This is the day I'd |
| 581 | 02:04:41,730 --> 02:04:53,040 | like to do it. If it doesn't work, let me know. And I give them the list of questions I intend to ask them. And can you see it? Real people real faces real |
| 582 | 02:04:53,040 --> 02:05:04,260 | money. The companies themselves have interviewed them. The payouts are are verified. You can see it it's there. So it's to me, it's a source of |
| 583 | 02:05:04,290 --> 02:05:14,280 | inspiration. And I use the title real money real people, because that's how I started. Ken Roberts, that garbage book that I bought that I thought was going |
| 584 | 02:05:14,280 --> 02:05:23,040 | to change the world for me is little cassette tape that he sold me on the idea with was titled real money, real people. And it was interviews with people that |
| 585 | 02:05:23,040 --> 02:05:37,200 | were using commodities to make money. So I'm full circle going right back into how I started, what was my inspiration. So I know, seeing individuals seeing |
| 586 | 02:05:37,200 --> 02:05:50,190 | their face, reading their emotions, from their discussion, how they're talking to you how they're talking with me. The way they share their experience, it's |
| 587 | 02:05:50,190 --> 02:06:00,000 | genuine. It's not like if I was talking to someone right here on this, which is, I've contemplated doing, like I contemplated having like the interviews over |
| 588 | 02:06:00,000 --> 02:06:08,550 | Twitter, but I don't manage my own Twitter spaces. Once I don't, I'm done. And other people upload them and whatever, and you can do whatever you want with |
| 589 | 02:06:08,550 --> 02:06:20,970 | them, I don't care. But I just wanted to see their face. Like, to me, it's an emotional thing. Like I'm, when I was doing that tonight, I had to fight back in |
| 590 | 02:06:21,000 --> 02:06:31,710 | the emotion that I was feeling. And when I watched the playback, I'm looking like, I'm a substitute teacher. And I'm watching a class that I don't have any |
| 591 | 02:06:31,710 --> 02:06:41,190 | affinity for. When in reality, I was very emotional. Like, I was very emotional. And I was trying to keep my composure, because I'm so appreciative of him. |
| 592 | 02:06:41,220 --> 02:06:51,330 | Number one, sharing his experience with me and allowing it to be seen by everyone pays obviously done interviews with other folks before too, but it to |
| 593 | 02:06:51,330 --> 02:07:01,890 | me, it's meaningful, because he's saying that he uses what he's learned from me. And that, to me is wonderful. And I'm thankful that the Lord has allowed me to |
| 594 | 02:07:01,890 --> 02:07:11,100 | have that impact on his life and other folks that are in my inbox waiting to have a conversation with me, and share their experience with you as well. And |
| 595 | 02:07:11,370 --> 02:07:21,540 | more of them came in today. So I mean, as obviously, as we go forward throughout this year, folks that are more versed in trading, that are already trading with |
| 596 | 02:07:21,540 --> 02:07:29,130 | live funds and can find profitability, they're going to, um, certain have a testimony of their own. And they're probably reached out to me, and I'm anxious |
| 597 | 02:07:29,130 --> 02:07:37,920 | to have a conversation with them as well. This is a lot of them. And I'm not going out of the order that they came to me, not all of them are going to be |
| 598 | 02:07:37,920 --> 02:07:51,150 | 250,000 $300,000. In not all of them are like that some of them were 20,000. Some of them are 10,000 Isn't that in my opinion, that's still noteworthy, like |
| 599 | 02:07:51,150 --> 02:08:02,400 | you're not demo trading, and to see the response, and hear their appreciation for having this skill set taught to them, they can now do it. In that's |
| 600 | 02:08:02,430 --> 02:08:13,440 | meaningful to me, it may not be as a mean as meaningful to you, because you can't do it yet. But you're learning how to do it. And I'm excited to talk to |
| 601 | 02:08:13,440 --> 02:08:25,230 | you to, like I want to, I want to see more of all of you. And I've had a lot of individuals through my mentorship over the years, people reach out to me send |
| 602 | 02:08:25,230 --> 02:08:40,410 | private links to videos on YouTube, or send me things, you know, through other mediums. And my family and I had the wonderful prep privilege and pleasure to |
| 603 | 02:08:41,250 --> 02:08:55,110 | see and hear them show their appreciation. And it's just a wonderful, wonderful repayment for everything I'm poured into this. This is one thing to say, you |
| 604 | 02:08:55,110 --> 02:09:05,880 | know, thanks ICT in a tweet, and you know, there it is as cool. But when someone spends time, and they show you their face, and they talk from their heart and |
| 605 | 02:09:05,880 --> 02:09:17,100 | show you the appreciation, the fact that you know, I didn't have to do this. I mean, I could have went back on my promise that if I was taught how to do this, |
| 606 | 02:09:17,100 --> 02:09:26,670 | and I could do it, I would teach the rest of my life and teach other people how to do it. I could went back on that. But I didn't want to do that. Sometimes I |
| 607 | 02:09:26,670 --> 02:09:36,630 | do because it's hard to manage all your personalities and your demands on me and I have to balance a lot of other things and on top of what I'm doing here. But |
| 608 | 02:09:36,630 --> 02:09:49,890 | when I see folks really give a heartfelt thank you and I can see them my wife's it's to me. When my wife saw this young man tonight, it's just one more of what |
| 609 | 02:09:49,890 --> 02:10:01,590 | she's already seen many of and that's what I got her to tell me one time we were taking a ride and I think I've said this to you before But for her to say, you |
| 610 | 02:10:01,590 --> 02:10:12,660 | know, I, I can understand now why you do it. And I didn't understand it before. Like, because she always thought that all of you were stealing her time. Because |
| 611 | 02:10:12,660 --> 02:10:28,200 | I spend more time with all of you than I spend with her. And it's been like that our entire marriage it's she's a, she's a different kind of woman. There's not a |
| 612 | 02:10:28,200 --> 02:10:42,780 | lot of women out there that would want to allow something like this. But she understands that this is who I am. This is who I was when she met me. And she's |
| 613 | 02:10:42,780 --> 02:10:55,920 | never said that being who you are. And I wouldn't. I'm incapable of it. But for her to say, because you've seen so many people's lives being impacted, and |
| 614 | 02:10:55,920 --> 02:11:11,010 | changed for the better. To see them emotionally break down and say, This is what I'm able to do now. And something took me out of my work. Some accident, |
| 615 | 02:11:11,010 --> 02:11:24,390 | something, you know, health wise, I can't, I can't do this anymore. But now, because of this, I'm able to do that. You know, and when you see that, and they |
| 616 | 02:11:24,390 --> 02:11:40,590 | are heartfelt, and you're tearful, and it just so emotionally, to me committed to now doing this, because they've seen it work for them. And us as a family, |
| 617 | 02:11:41,250 --> 02:11:54,660 | like I let my, I let my kids see it. Because it's to me, it's like, I want them to see, this is why I do it. This is why I do it. These people all around the |
| 618 | 02:11:54,660 --> 02:12:08,250 | world are thinking and praying for me. Because I help them. And now they have the ability to do something they otherwise never would have. |
| 619 | 02:12:09,720 --> 02:12:19,050 | And the fear, the anxiety that they had before with not having a skill set like this. And it was only their job, that maybe they were made redundant and they |
| 620 | 02:12:19,050 --> 02:12:32,340 | got sacked, they're fired, lost it COVID took a lot of people out of the job. And they've not been able to resurrect themselves from that. But my students |
| 621 | 02:12:32,610 --> 02:12:49,290 | have been able to do what, find another way. Some of them had businesses that were ended. And they are now finding their way with this. And it just feels |
| 622 | 02:12:52,200 --> 02:13:08,880 | really rewarding, not only because I'm appreciative of the feedback that I'm getting, but it allows my wife who I know, I know. She doesn't fully understand |
| 623 | 02:13:09,660 --> 02:13:24,780 | what it is that we do. Like she doesn't get it. But when she sees folks provide a testimony and say, look with this has enabled me and my family to now partake |
| 624 | 02:13:24,780 --> 02:13:40,530 | in. Look at the blessing that now I am able to go in and do this. That that enrichment to my life. I'm thankful for this. And my wife sacrifice by allowing |
| 625 | 02:13:40,530 --> 02:13:56,640 | me to do what it is I'm doing with you all right now, every single day, every week. And for years I've been doing it she can see it and understand enough to |
| 626 | 02:13:56,640 --> 02:14:08,070 | allow it. Which I'm thankful for. Because it would be very difficult for me if he was to sit down one day and say, Michael, I love you. I've dealt with this |
| 627 | 02:14:08,070 --> 02:14:24,600 | for a long, long time. But I can't do it anymore. Oh, wow, that would be that'd be rough, like deadly, that will be rough. And I feel like that's where we're at |
| 628 | 02:14:24,600 --> 02:14:40,530 | because we're older. I'm 50 Chain 50. But at some point, she's gonna want all my time. So that's another major contributing factor to why I want to not take in |
| 629 | 02:14:40,830 --> 02:14:51,960 | new mentorship groups because nobody shut me down. I wanted to wind this down. And this year, I have all of you on a timetable because of what I know is |
| 630 | 02:14:51,960 --> 02:15:06,210 | coming. And I'm doing my best every day to put on enough of a clip Nik to try to teach you on real time data, using the things that's on my YouTube channel and |
| 631 | 02:15:06,210 --> 02:15:20,880 | the things I'm teaching you this year. And I'm hoping that I'm going to have more of all of you telling me next year, if not sooner, that I'm so thankful |
| 632 | 02:15:20,880 --> 02:15:34,230 | that, you know, I poured myself into what you were sharing in the look at the results I have. And you can pass that on to your children. And leave a legacy, |
| 633 | 02:15:35,370 --> 02:15:50,280 | which I'm so honored and privileged to be a small, small little piece of that. Like, I feel special because of that. It's not arrogance, I'm so thankful and |
| 634 | 02:15:50,310 --> 02:16:05,280 | honored to be number one, you're listening to me right now. The fact that you're willing to listen to what I've spent my entire life doing. I don't take that for |
| 635 | 02:16:05,280 --> 02:16:16,800 | granted. And when I talk to you, I talk to you from my heart. And I want you don't understand that I appreciate everything, all of you share in terms of your |
| 636 | 02:16:17,130 --> 02:16:34,410 | attention to details that I'm sharing the the rate of appreciation that our community has, I love that. I love it. I love when a new member joins our fold |
| 637 | 02:16:34,410 --> 02:16:46,620 | here. And they say, this is the best community I've ever been a part of. I love that I'm proud of that. I'm proud of all of you that welcome other new students |
| 638 | 02:16:46,620 --> 02:16:58,890 | in because I'm gonna tell you something, every time I brought a new group in my private mentorship, I was hearing about it, I was hearing about it. We don't |
| 639 | 02:16:58,890 --> 02:17:15,990 | want nobody else in here. I thought was, so I just want to let you know that I appreciate that. And it encourages me, it makes me do more. Like it keeps me |
| 640 | 02:17:15,990 --> 02:17:26,400 | motivated. And I don't feel like a 50 year old man. I don't think I look like a 50 year old man either. But I certainly don't feel like I imagine if it's your |
| 641 | 02:17:26,400 --> 02:17:37,950 | old man would feel when I was younger. Like I don't get tired of this. Clearly, that had gone on or not. If I went and lost my voice when I was sick, I still |
| 642 | 02:17:37,950 --> 02:17:51,510 | would have been teaching. I just couldn't talk so made things difficult. But I think that's going to be it for tonight is I want to just more or less start |
| 643 | 02:17:51,510 --> 02:18:03,060 | rambling about things. You probably don't have a whole lot of bearing on you as a trader. But as a student, you know, I want you to know from your mentors lips |
| 644 | 02:18:03,060 --> 02:18:21,060 | that I am absolutely honored that you number one chose me as your mentor. And that you continuously show up each day. Because I know where I'm taking you. You |
| 645 | 02:18:21,060 --> 02:18:33,840 | may not see it entirely that I do. I've been here before I've taken other people there. I know my way around, even in the dark. And while you might not know |
| 646 | 02:18:33,840 --> 02:18:43,710 | where you're heading, all you got to do show up each day, I promise, I'll take you by the hand. And we'll walk into this jungle every day. And you'll come out |
| 647 | 02:18:43,710 --> 02:18:57,090 | in one piece, but you'll be coming out with spoils. You'll come out with more than you went in with. And each time you do it, you'll have more experience. You |
| 648 | 02:18:57,090 --> 02:19:05,190 | have more understanding about yourself and the markets. And when it comes time for you to decide whether you want to take the plunge and trade with a funded |
| 649 | 02:19:05,190 --> 02:19:15,540 | account or trade with your own money. You won't have any doubts of what it is you're going to do and when you'll know you'll absolute absolutely now there'll |
| 650 | 02:19:15,540 --> 02:19:23,310 | be no doubt about it. And it won't because you're rushing to make money is because you're going to know that you know exactly what you're doing. And that |
| 651 | 02:19:23,310 --> 02:19:32,130 | peace of mind of not worrying about missing something because you don't know when it's going to come up. Because that's really what fear of missing out is |
| 652 | 02:19:32,370 --> 02:19:44,040 | you don't know what you're doing. You don't know what you're doing or what to expect in price. So therefore you're fearful of missing something. Which is what |
| 653 | 02:19:44,490 --> 02:19:56,130 | we've watched crypto traders for years, experienced that fear of missing out. They think that there's always going to be that next 50,000 new point run in the |
| 654 | 02:19:56,130 --> 02:20:07,320 | cryptocurrency every little fluctuation is going to be 100,000 and Bitcoin, every little movement, because they don't know how to trade. I'm not knocking |
| 655 | 02:20:07,320 --> 02:20:20,310 | any crypto traders specifically, I'm just saying that asset class recently has drawn in nobodies as far as traders, they've never traded before anything. It's |
| 656 | 02:20:20,310 --> 02:20:31,140 | like a circus that community of, of speculation. It's like the I love it because it's a freak show. Like I love the names on Twitter. I saw one of them, chart |
| 657 | 02:20:31,140 --> 02:20:43,260 | Simpson. I love the names that mean something you folks came up with. They're really really ingenious. I love them. Some of them a little bit too crude. But |
| 658 | 02:20:44,340 --> 02:20:55,290 | for the most part, they're very funny, very interesting selections of almost like a meaning. It's neat. But the traders themselves that came in with that big |
| 659 | 02:20:55,290 --> 02:21:08,790 | boom up in Bitcoin brought average people with no previous trading experience. So it's easy for them to do what get whipped up into a frenzy. And they fear |
| 660 | 02:21:08,790 --> 02:21:19,620 | they're going to miss every little movement is going to be the next Bitcoin 100,000 Run. Because he don't know how to trade. I'm teaching you how to trade. |
| 661 | 02:21:19,980 --> 02:21:34,170 | I'm teaching you how to read price. So that way, you're never going to have fear of missing out. There's no FOMO in ICT, None. None. I'm bored. I'm boring |
| 662 | 02:21:34,170 --> 02:21:48,210 | listening to his live streams. It's like, I've seen this before. And it's exactly how it's going to be for you. No emotion. I gotta bring in the dad jokes |
| 663 | 02:21:48,210 --> 02:21:58,080 | all the time to break up the monotony of this boredom. It's boredom. It's the same stuff all the time. And that's how it's gonna be for you. |
| 664 | 02:21:59,760 --> 02:22:11,250 | And you want it to be like that. You don't want it to be some kind of rave. Okay, not some kind of techno jam party in nothing over the top in terms of |
| 665 | 02:22:11,280 --> 02:22:26,580 | exhilaration. You want it to be absolutely boring. You've been here before you knew how it ends. You won't get emotionally attached to the trade. You're not |
| 666 | 02:22:26,580 --> 02:22:34,080 | going to be beating yourself up if you lose. And you're not going to think of yourself as the goat because you had one winning trade. That's how you'd been as |
| 667 | 02:22:34,080 --> 02:22:48,960 | he beat this business. That's how you do it. And you're getting there. So hopefully this is going to be enough for this weekend. Like I said, I usually do |
| 668 | 02:22:48,960 --> 02:23:02,220 | them on Saturday. But I don't have an opportunity to do that this weekend. So we did tonight. And I hopefully have deposited something useful and helpful to you |
| 669 | 02:23:02,220 --> 02:23:13,830 | tonight. If nine I apologize for wasting your time. But if you keep showing up, I promise it won't always be like that you'll get something and we'll be back up |
| 670 | 02:23:13,830 --> 02:23:24,750 | again Lord willing on Monday. So this weekend, try to get some rest still to this day, not too too much. And I'll have some new lectures for you this coming |
| 671 | 02:23:24,750 --> 02:23:28,560 | week. And until I'll talk to you then be safe |